Palmer Square EUR CLO Senior Debt Index UCITS ETF

ETF Overview

A passively managed ETF that invests in the AAA and AA debt tranches of the European CLO universe and seeks to replicate the performance, before fees and expenses, of the Palmer Square EUR Senior Debt Index, a proprietary, research-driven, and rules-based index that seeks to define the highest quality and most liquid segments of AAA and AA tranches of the European CLO senior debt universe of assets.

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ETF Details

The Palmer Square EUR CLO Senior Debt Index UCITS ETF (PCL0) seeks to track the risk and return characteristics of the Palmer Square EUR CLO Senior Debt Index (ECLOSE).

Inception Date
Aug 7, 2025
Total Net Assets
As of
€51,250,000
Net Annual Expense Ratio
As of most recent prospectus
0.20%
Ongoing Charges
As of most recent prospectus
0.25%
Use of Income
Accumulating
ISIN Code
IE000JTHNWF0
NAV Ticker
PCL0
Exchange
XETR
Benchmark
Palmer Square EUR CLO Senior Debt Index (ECLOSE)

Portfolio Management

Angie Long is Chief Investment Officer and one of two Principal Owners for Palmer Square Capital Management, where she has key responsibilities for all investment-related activities.

With her leadership, the firm has grown Assets Under Management (AUM) to more than $35.9 billion (as of 06/30/2025) and has expanded its global presence, notably with the recent establishment of a London office. She is widely regarded as 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). Additionally, she is one of the architects of the firm’s leadership investment strategy in Collateralized Loan Obligations (CLOs). With more than 91 CLOs issued, including 25 in Europe, Palmer Square is one of only nine CLO managers among 128 with zero downgrades. Additionally, Angie’s vision was behind the firm’s proprietary scoring system to identify and evaluate fund performance in Environmental, Social and Governance (ESG) metrics, with all three European funds ESG compliant.

Angie’s career includes experience at JPMorgan Chase & Co. where she was named a Managing Director at age 29 and held many senior roles including Deputy Head of North American Credit Trading, Head of High Yield Trading, and Head of Credit Derivatives Trading. 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. Angie received an AB degree in Economics from Princeton University and was a member of two National Championship Rugby teams and named an All-American in 1997. Angie has continued her involvement with Princeton as she served on the Women in Leadership Committee of Princeton, founded the Greater Kansas City Princeton Women’s Network (PWN), and is currently serving as Co-Chair for the Princeton Greater Kansas City Region’s Alumni Schools Committee. Angie is a member of the 100 Women in Finance and is a CFA ® charterholder.

Taylor joined Palmer Square in 2013 and is a member of the firm’s structured credit investing team, as well as head of structured credit trading. He is responsible for trading the firms CLO, CMBS, RMBS, and ABS investments.

Prior to joining Palmer Square, Taylor worked at JPMorgan Chase & Co. in New York. Taylor was an integral part of the firm’s North American foreign exchange business serving as Associate Product Controller. In particular, Taylor played a key role in all financial operations and management of JPMorgan’s Forward and Spot foreign exchange trading desks. He began his career at JPMorgan as part of the firm’s Corporate Development Program, a two year selective leadership development program. Prior to JPMorgan Chase & Co., Taylor worked at Frontier Investment Bank, a boutique investment bank based out of Kansas City.

Taylor received a BA in Economics from Cornell University. During his time at Cornell, Taylor was a member of four top ten NCAA Wrestling teams, and traveled to Beijing in 2008 to represent team USA in the FILA Junior World Championships. He is also a CFA® charterholder.

Documents

KIID (French)
KIID (German)
KIID (UK)
KIID (English)
Prospectus
Supplement
EEA Country Supplement
German Consolidated Prospectus
Instrument of Incorporation (IOI)

Regulatory Disclaimer/Legal Information

Palmer Square UCITS ICAV (the "ICAV") is registered in Ireland pursuant to the Irish Collective Asset-management Vehicles Act 2015 and is authorised by the Central Bank of Ireland as a UCITS.

The authorisation of the ICAV by the Central Bank shall not constitute a warranty as to the performance of the ICAV and the Central Bank shall not be liable for the performance or default of any Fund of the ICAV. The authorisation of the ICAV is not an endorsement or guarantee of the ICAV by the Central Bank nor is the Central Bank responsible for the contents of this Prospectus.

Carne Global Fund Managers (Ireland) Limited (the "Manager") reserves the right to terminate the arrangements made for the marketing of the sub-fund and/or its shares in accordance with Article 93a of Directive 2009/65/EC and Article 31a of Directive 2011/61/EU. Prior notice of this cessation will be made in Ireland.

This is a marketing communication. Please refer to the Prospectus of Palmer Square UCITS  ICAV (including the Supplements and KIID/KID for each relevant sub-fund of the Palmer Square UCITS ICAV available on etf.palmersquarefunds.com/ before making any final investment decisions. The investment which is promoted concerns the acquisition of units or shares in a fund and not in a given underlying asset owned by the fund.

Important Information:

Nothing on this website constitutes investment advice, an offer, or a solicitation to buy or sell any investment product. While reasonable care has been taken to ensure the accuracy of the information on this website, no warranty is given to its completeness or accuracy. The content of this website is only intended for residents of Ireland, France, Germany, United Kingdom and Italy countries where the fund has been registered for sale. The Fund is not available for sale in jurisdictions where such sale would be unlawful. All content on this website is the property of Palmer Square Capital Management LLC, the investment manager appointed to the ICAV, and may not be reproduced without prior written consent.

This material is for investment professionals only and should not be relied upon by private or retail investors.

The value of investments and the income from them can go down as well as up so investors may get back less than they invest. Tax treatment depends on individual circumstances and may be subject to change. Investors should seek independent tax advice. ETFs are subject to charges and expenses. Charges and expenses reduce the potential growth of your investment. This means you could get back less than you paid in. The costs may increase or decrease because of currency and exchange rate fluctuations. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realise returns that are different from the NAV performance. There is no guarantee that the investment objective of any passively managed fund will be achieved. The performance of a sub-fund may not match the performance of the index it tracks due to factors including, but not limited to, the investment strategy used, fees and expenses, and taxes. These ETFs do not offer any guarantee or protection with respect to return, capital preservation, stable net asset value or volatility.

The Fund is considered a complex product.

Investors in the Fund are expected to understand and be able to evaluate the strategy, characteristics and risks of the Fund as disclosed in the Supplement, and in particular the risks associated with investments in CLOs, in order to make an informed investment decision. Investors are expected to have the knowledge of, and the investment experience in the financial markets generally.

The Shares of the Fund are intended exclusively for "Advanced Investors", "Professional Investors" and "Eligible Counterparties", each as prescribed in the current European MiFID template (as at the date of the Supplement). The sale of this Fund on the Secondary Market to Retail Investors is not permitted and the Fund shall not be offered to such Retail Investors.

30-Day SEC Yield represents net investment income earned by the Fund over the 30-day period, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-day period.