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Palmer Square Long/Short Credit Fund announces plans to launch
By Toni Weeks
San Luis Obispo, Calif., Sept. 12 – Investment Managers Series Trust announced in an N-1A filing with the Securities and Exchange Commission its plans to offer the Palmer Square Long/Short Credit Fund.
The fund will seek absolute (positive) total returns over a complete market cycle through a portfolio of diversified long and short exposure to the credit markets.
Under normal circumstances, it will invest at least 80% of its net assets in credit-related instruments, which include, but are not limited to, U.S. and non-U.S. collateralized debt obligations; corporate bonds, notes, debentures and convertible bonds; securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored entities; senior secured floating-rate and fixed-rate loans or debt; second-lien or other subordinated or unsecured floating-rate and fixed-rate loans or debt; and other fixed-, floating- or variable-interest-rate securities and instruments. The fund may invest in domestic and foreign debt securities of any maturity and credit quality, including securities rated below investment grade and unrated securities.
Angie K. Long, Christopher D. Long, Daniel C. Cox and Benjamin J. Etsy will be the portfolio managers.
The fund will offer class A and class I shares. The ticker symbols have not yet been set.
There will be a maximum sales load of 5.75% and a maximum deferred sales load of 1% on class A shares. The management fee will be 1%. Total annual fund operating expenses have not yet been determined.
Mission Woods, Kan.-based Palmer Square Capital Management LLC will be the investment adviser.
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