Liquid Alternatives: Panagram Launches Its Maiden ETF Focused On Collateralized Loan Obligations

January 26, 2023 | Latest News, Liquid Alternatives, News

Panagram Structured Asset Management is a $13.5 billion credit asset manager.

Panagram Structured Asset Management, a subsidiary of Eldridge, has launched its first ETF, the Panagram BBB-B CLO ETF (NYSEARCA: CLOZ).


CLOZ is an actively managed fund that invests in collateralized loan obligations (CLOs) and aims to provide investors with a liquid alternative to traditional fixed income with attractive structural features and competitive yield. (ETF Trends/VettaFI)

CLOs have historically provided higher yield than similarly rated corporate bonds and benefit from structural rules that may benefit investors from credit loss. The fund will invest in mostly BBB- and BB-rated CLO bonds and is expected to pay a monthly dividend. CLO bonds rated BBB and BB not only tend to provide higher current yield than comparable credit products but also maintain low correlations to public debt and equity markets.

The fund’s team has extensive experience in the CLO market, which has grown to $1 trillion in size. Furthermore, Panagram’s long-standing relationships in the institutional CLO market give it access to assets that have the potential to offer monthly income while diversifying away from stocks and bonds.

The ETF is listed on the NYSE and has an expense ratio of 0.50%.


“Our goal is to provide investors with a liquid alternative to traditional fixed income with attractive structural features and competitive yield,” said John Kim, CEO of Panagram and portfolio manager of CLOZ. “We recognize how difficult 2022 was, and the historical outperformance of CLO tranches versus other corporates led us to create this innovative floating-rate product for the retail investor. We are excited to launch CLOZ, which seeks to democratize CLO exposure and provide investors with the added benefit of expert oversight.”

Related Story:  DIPC, A Liquid Alt Offering From FundFront And DipSea Capital

Image by HeungSoon from Pixabay

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…