PSOIX: Palmer Square Opportunistic Income Fund - MutualFunds.com
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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$18.97

-

4.89%

$0.93

1.76%

Vitals

YTD Return

3.4%

1 yr return

15.0%

3 Yr Avg Return

5.2%

5 Yr Avg Return

7.0%

Net Assets

$N/A

Holdings in Top 10

14.3%

52 WEEK LOW AND HIGH

$18.97
$17.28
$18.98

Expenses

OPERATING FEES

Expense Ratio 1.76%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 74.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$250,000

IRA

N/A


Fund Classification

Fund Type

Closed-end mutual fund

Investment Style

Nontraditional Bond


Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$18.97

-

4.89%

$0.93

1.76%

PSOIX - Profile

Distributions

  • YTD Total Return 3.4%
  • 3 Yr Annualized Total Return 5.2%
  • 5 Yr Annualized Total Return 7.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 6.40%
DIVIDENDS
  • Dividend Yield 4.9%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Palmer Square Opportunistic Income Fund
  • Fund Family Name
    Palmer Square
  • Inception Date
    Aug 29, 2014
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Christopher Long

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities and/or income-producing securities (the “80% Policy”). It may invest in debt securities of any maturity and credit quality, including securities rated below investment grade and unrated securities. The fund is non-diversified.


PSOIX - Performance

Return Ranking - Trailing

Period PSOIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -25.0% 21.8% 8.44%
1 Yr 15.0% -30.0% 49.9% 6.20%
3 Yr 5.2%* -10.6% 11.7% 41.51%
5 Yr 7.0%* -14.4% 13.9% 3.79%
10 Yr N/A* -1.4% 14.0% N/A

* Annualized

Return Ranking - Calendar

Period PSOIX Return Category Return Low Category Return High Rank in Category (%)
2020 -0.8% -49.2% 314.3% 67.91%
2019 1.5% -35.1% 16.7% 83.07%
2018 -6.4% -48.0% 3.4% 71.87%
2017 5.8% -14.8% 11.2% 4.27%
2016 4.2% -11.2% 12.8% 30.21%

Total Return Ranking - Trailing

Period PSOIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -25.0% 25.3% 8.57%
1 Yr 15.0% -34.1% 49.9% 6.69%
3 Yr 5.2%* -12.3% 13.0% 36.43%
5 Yr 7.0%* -15.4% 13.9% 3.54%
10 Yr N/A* -1.4% 14.0% N/A

* Annualized

Total Return Ranking - Calendar

Period PSOIX Return Category Return Low Category Return High Rank in Category (%)
2020 -0.8% -49.2% 314.3% 67.91%
2019 1.5% -35.1% 16.7% 83.85%
2018 -6.4% -48.0% 8.0% 78.56%
2017 5.8% -14.8% 15.2% 16.70%
2016 4.2% -11.2% 17.7% 47.95%

NAV & Total Return History


PSOIX - Holdings

Concentration Analysis

PSOIX Category Low Category High PSOIX % Rank
Net Assets N/A 10 143 B N/A
Number of Holdings 295 3 7887 58.72%
Net Assets in Top 10 31.4 M -8.09 B 6.07 B 62.99%
Weighting of Top 10 14.29% 4.1% 100.0% 84.47%

Top 10 Holdings

  1. Federated Hermes Treasury Obl IS 5.39%
  2. Dryden XXXIII Senior Loan Fund 0% 1.29%
  3. Aimco Clo Series 2015-A / Llc 5.38% 1.15%
  4. Cumberland Park CLO Ltd 5.84% 1.15%
  5. Darpk 1x Crr Mtge Var 01/28/2034 1.11%
  6. CIFC Funding 2011-I Ltd. 2.35% 1.07%
  7. DRYDEN 78 CLO LTD / LLC 2.45% 1.05%
  8. Barings Clo Ltd 2017-I 6.19% 1.05%
  9. MOUNTAIN VIEW CLO I LTD 2.67% 1.05%
  10. EATON VANCE CLO LTD 6.93% 1.03%

Asset Allocation

Weighting Return Low Return High PSOIX % Rank
Bonds
92.97% -169.75% 217.61% 23.46%
Cash
6.67% -152.64% 281.06% 46.80%
Other
0.31% -39.52% 104.83% 22.08%
Convertible Bonds
0.04% 0.00% 129.09% 84.19%
Stocks
0.01% -54.77% 182.84% 69.64%
Preferred Stocks
0.00% 0.00% 32.58% 83.81%

Stock Sector Breakdown

Weighting Return Low Return High PSOIX % Rank
Technology
100.00% 0.00% 100.00% 0.18%
Utilities
0.00% 0.00% 100.00% 77.80%
Real Estate
0.00% 0.00% 100.00% 77.80%
Industrials
0.00% 0.00% 100.00% 81.47%
Healthcare
0.00% 0.00% 100.00% 77.06%
Financial Services
0.00% 0.00% 100.00% 81.65%
Energy
0.00% 0.00% 100.00% 92.84%
Communication Services
0.00% 0.00% 100.00% 82.94%
Consumer Defense
0.00% 0.00% 100.00% 74.68%
Consumer Cyclical
0.00% 0.00% 100.00% 81.83%
Basic Materials
0.00% 0.00% 47.08% 80.18%

Stock Geographic Breakdown

Weighting Return Low Return High PSOIX % Rank
US
0.01% -50.06% 182.84% 61.73%
Non US
0.00% -4.71% 10.02% 76.16%

Bond Sector Breakdown

Weighting Return Low Return High PSOIX % Rank
Securitized
74.77% 0.00% 99.25% 6.15%
Corporate
18.57% 0.00% 100.00% 74.15%
Cash & Equivalents
6.66% 0.00% 100.00% 52.07%
Derivative
0.00% 0.00% 58.05% 82.69%
Municipal
0.00% 0.00% 54.18% 77.04%
Government
0.00% 0.00% 99.48% 95.23%

Bond Geographic Breakdown

Weighting Return Low Return High PSOIX % Rank
Non US
68.84% 0.00% 126.35% 4.52%
US
24.13% -170.06% 209.58% 90.34%

PSOIX - Expenses

Operational Fees

PSOIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.76% 0.02% 5.53% 21.85%
Management Fee 1.00% 0.00% 2.25% 83.93%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.85% 36.47%

Sales Fees

PSOIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% 85.71%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

PSOIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.40% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PSOIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 74.00% 0.00% 498.00% 45.01%

PSOIX - Distributions

Dividend Yield Analysis

PSOIX Category Low Category High PSOIX % Rank
Dividend Yield 4.89% 0.00% 3.36% 68.22%

Dividend Distribution Analysis

PSOIX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Monthly Monthly

Net Income Ratio Analysis

PSOIX Category Low Category High PSOIX % Rank
Net Income Ratio 6.40% -1.31% 11.44% 4.59%

Capital Gain Distribution Analysis

PSOIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

PSOIX - Fund Manager Analysis

Managers

Christopher Long


Start Date

Tenure

Tenure Rank

Aug 29, 2014

7.01

7.0%

Mr. Christopher Long is the Founder and serves as Chief Executive Officer, President and Portfolio Manager at Palmer Square Capital Management. Since inception, Chris has been successful in not only building a highly-experienced investment team, but also an integrated credit investment platform that manages mutual fund offerings, private funds and separately managed accounts. The firm has a client list that spans not only institutions and family offices, but also RIAs, bank/trust, and broker-dealers. Chris's previous work experience includes key investment roles at Prairie Capital and Sandell Asset Management as well as working at Morgan Stanley in the Credit Derivatives and Distressed Securities Group focused on the firm's proprietary investments. Before Morgan Stanley, he worked at TH Lee Putnam Ventures, a private equity fund sponsored by Thomas H Lee Partners and Putnam Investments. In that role, he also served on the Board of Directors of Avero, Inc. and was a Board Observer for Parago, Inc. He started his career at JPMorgan & Co. in Leveraged Finance and Mergers & Acquisitions (FIG Group) advising corporations and private equity firms on investment banking and capital markets. He received an MBA degree from the Harvard Business School and an AB degree in Economics cum laude from Princeton University. Chris's community involvement includes serving as an Investment Committee member of the Nelson-Atkins Museum of Art, Board Member of the Children's Mercy Hospital Foundation, Trustee for the St. Paul's Episcopal Day School, Co-Class Agent for Princeton University, Social Chair for the Princeton Club of Greater Kansas City, and Alumni Mentor for the Princeton University Bendheim Center for Finance Mentorship Program. Chris is also a member of the Young Presidents Organization (YPO) and the Economic Club of Kansas City. Formerly, Chris was also appointed by Kansas Governor Sam Brownback and unanimously approved by the Senate to two terms as a Trustee for the Kansas Public Employees Retirement System (KPERS). Chris also formerly served as the Treasurer for the City of Mission Hills, KS (appointed by Mayor David Fromm of Mission Hills, KS). Finally, Chris was formerly a Member of the Children's Mercy Hospitals Leadership Circle of Care Committee, Kansas University's Finance Department Advisory Board, Treasurer for the Harvard-Radcliffe Club of Kansas City, Investment Committee Member for the Foundation of the University of Missouri-Kansas City and Member of the Major Gifts Committee - Harvard Business School. Finally, Chris was selected as a Finalist for the 2016 Ernst & Young Entrepreneur of the Year Award for the Central Midwest Region and to participate in the Civic Council of Greater Kansas City's KC Tomorrow (2007-2008 Class). He was awarded Ingram Magazine's 40 Under 40 award, the Kansas City Business Journal's Class of 2015 NextGen Leaders award, and KC Business Magazine's Rising Star Award.

Angie Long


Start Date

Tenure

Tenure Rank

Aug 29, 2014

7.01

7.0%

Angie Knighton Long, Chief Investment Officer, has ultimate responsibilities for all investment-related activities at Palmer Square inclusive of approximately $9.5 billion in assets (as of 6/30/2019) and a platform that includes private funds, mutual funds, and separately managed accounts. Under Angie’s leadership, Palmer Square is also a well-known issuer and pioneer within the structured credit and CLO arena. Prior to joining Palmer Square, Angie worked for JPMorgan Chase & Co. in New York for 13 years. Angie held many senior roles including Deputy Head of North American Credit Trading, Head of High Yield Trading, and Head of Credit Derivatives Trading. Angie has been a trader of many products including high yield bonds, high yield credit derivatives, distressed debt, capital structure arbitrage, and structured credit. In addition, she worked with the Global Head of Credit Trading to help oversee risk management for the High Yield and High Grade credit trading books. Named a Managing Director at age 29, Angie is considered a pioneer in the Credit Derivatives industry and is credited with creating the HYDI (High Yield Debt Index), the first liquid credit trading index and predecessor to all of today’s indices (the Markit CDX). Angie received an AB degree in Economics from Princeton University and is a CFA ® charterholder. During her years at Princeton, Angie was a member of two National Championship Rugby Teams and was selected as an All-American in 1997. Angie also founded the Greater Kansas City Princeton Women’s Network (PWN) and is the Co-Chair for the Greater Kansas City Region’s Alumni Schools Committee effort for Princeton. Angie was also formerly on the Women In Leadership committee of Princeton University (WIL). Angie is also a member of the 100 Women in Finance.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 27.68 5.4 2.45