US credit-focused asset manager Palmer Square Capital Management will enter European ETFs with three strategies for recording collateralized loan obligations (CLOs).
The Mission Woods, Kansas-based company said it will target European institutional investors with a trio of ETFs in “early 2025,” starting with the filing of the Palmer Square EUR CLO Senior Debt Index ETF.
The company’s initial launch in Europe will provide actively managed exposure to AAA and AA rated euro and US dollar denominated CLOs.
Palmer Square will also launch passive products that provide access to the company’s expertise in senior tranches of CLOs.
The fund promoter currently has more than $33 billion in assets under management (AUM), including the NYSE-listed $28 million Palmer Square Credit Opportunities ETF (PSQO).
Angie Long, the company’s CIO and portfolio manager, commented: “The launch of these ETFs in Europe underlines our commitment to delivering cutting-edge solutions in complex investment environments around the world.
“Using our proprietary benchmarks trusted by institutions around the world, these new products provide efficient access to a unique and attractive asset class, affirming our commitment to creating value for institutional and professional investors.”
Taylor Moore, managing director and portfolio manager at Palmer Square, added: “The institutional interest in our proprietary European CLO indices and debt products further underlines the demand for these innovative ETFs.
“Our ability to fully manage and develop these products in-house ensures operational independence and best execution.”
The upcoming launches follow the arrival of the Janus Henderson Tabula EUR AAA CLO UCITS ETF (JCLO) last week.
Invesco has also applied to launch a pair of CLO ETFs with the Central Bank of Ireland (CBI), after understanding the regulator is about to change its position on exposure.
This article was originally published by etf.com sister publication ETF Stream.
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