MISSION WOODS, Kan., Jan. 16, 2019 /PRNewswire/ -- Palmer Square Capital Management is pleased to announce that its Palmer Square Income Plus Fund (PSYPX) has received Morningstar's highest rating, 5-stars, for the overall and 3-year periods as of December 31, 2018 for the 23rd consecutive month. PSYPX is included in the Ultra Short Bond Morningstar Category which is comprised of 145 funds. The rating is based upon risk-adjusted returns. PSYPX also ranked #1 in Total Return Percentage within its category over the 3-year period.
"Morningstar's 5-star rating provides compelling validation of our experienced corporate and structured credit investment team and our disciplined and repeatable investment processes," said Palmer Square President & CEO, Christopher D. Long. "And, most importantly, it underscores our ongoing commitment to deliver attractive risk-adjusted returns for our clients."
Added Chief Investment Officer, Angie K. Long, "Our goal with PSYPX is to not only capture income and total return, but also provide clients with a multi-sector offering which can provide diversification and exposure to a much broader universe of credit beyond just corporate bonds, municipal bonds, and Treasuries. We are incredibly pleased with the continued recognition for many aspects of our business."
About Palmer Square Capital Management
Founded in 2009 and based right outside of Kansas City, Palmer Square manages approximately $8.4 billion in fixed income/credit investments on behalf of a diverse client base inclusive of institutional investors, wealth management firms, and high net worth individuals (as of 11/30/2018).
Please read the prospectus carefully before investing. For a prospectus, or summary prospectus, that contains this and other information about the Funds, call 866-933-9033 or visit our website at www.palmersquarefunds.com. Please read the prospectus, or summary prospectus carefully before investing.
The Palmer Square Income Plus Fund is distributed by IMST Distributors, LLC.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10- year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar 3-Yr total return for PSYPX is 3.47% as of 12/31/2018. The Ultra Short Bond Morningstar Category is comprised of 145 funds for the 3-Yr calculation figures.
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This update is limited to the dissemination of general information pertaining to Palmer Square Capital Management's services and general economic market conditions. The information contained herein is not intended to be personal legal or investment advice or a solicitation to buy or sell any security or engage in a particular investment strategy.
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1900 Shawnee Mission Parkway, Suite 315 Mission Woods, KS 66205 Copyright © 2019, All rights reserved.
SOURCE Palmer Square Capital Management