Europe’s First Passive CLO ETF Launched by Palmer Square Capital Management

What is the expected inflow and asset size for PCL0 in its initial months, and how does that compare to similar active CLO strategies? What regulatory or compliance considerations does a passive CLO ETF face in Europe, and how might that affect its performance? What is the expected impact on related securities (e.g., underlying CLO issuers, banks, and asset‑backed securities) from increased investor exposure via PCL0? How will the launch of the euro‑denominated CLO ETF (PCL0) affect the demand for existing European CLO funds and the broader CLO market? What are the underlying assets and credit quality distribution within the PCL0 portfolio, and how does the passive approach impact credit risk? How will the launch affect existing Palmer Square products and the overall market perception of PALMER’S management capabilities? How does PCL0’s passive index construction compare to other CLO indices (e.g., Bloomberg, S&P) in terms of exposure and diversification? How will the launch impact yields and spreads on the underlying CLO securities compared to pre‑launch levels? What are the macro‑economic implications (e.g., interest‑rate expectations, credit cycles) that could influence PCL0’s performance and investor interest? What are the tax implications for European investors of a euro‑denominated CLO ETF listed on Xetra? How will the launch affect the trading liquidity and bid‑ask spreads of PCL0 on the Xetra exchange? How does PCL0’s fee structure compare to other European CLO ETFs and actively managed CLO funds?