Palmer Square changes portfolio managers, adds currency strategies

By Toni Weeks

San Diego, Oct. 17 - Palmer Square Absolute Return Fund announced changes to the fund's sub-advisers and portfolio managers and added currency strategies to its principal investment strategies in a 497K filing with the Securities and Exchange Commission.

The fund said that effective Oct. 12, Coe Capital Management, LLC, Fountain Capital Management, LLC and Mesirow Financial Investment Management, Inc. are sub-advisers to the fund. Previously, Argonaut Management, LP, Cramer Rosenthal McGlynn, LLC, Forum Asset Management, LLC, Glaxis Capital Management, LLC, Madison Street Partners, LLC, Pinebank Asset Management, LP and SSI Investment Management, Inc. were the sub-advisers.

Mark D. Coe of Coe Capital Management; Douglas Campbell, Gregory Murphy, Paul Carey, Erin Carney and Adam Peltzer of Fountain Capital Management; and Gary Klopfenstein, Fred Stambaugh and Michael Miranda of Mesirow are now the portfolio managers. Coe is the founder and chief investment officer at Coe Capital Management. The remaining new portfolio managers are existing portfolio managers at their respective firms. In addition, Campbell is chief executive officer and founding partner at Fountain, and Peltzer is a partner at Fountain.

Coe Capital Management's primary investment strategy is long/short equity, whereas Fountain's is high-yield credit. Mesirow's primary strategy targets global currency alpha.

Palmer Square also adjusted its principal investment strategy, adding currency strategies as part of the broader global macro strategy. The fund's currency strategies can employ long and short positions in investments in currency markets around the world and may include one or a combination of options, futures, forwards or spot contracts on foreign currencies.

The company added currency risk to the principal risks for investors, noting that foreign currency may fall relative to the dollar and may be affected by volatile currency markets or actions of U.S. and foreign governments or central banks.

Palmer Square Capital Management LLC, the fund's adviser, is based in Leawood, Kan.

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