Palmer Square Capital Management, the hedge fund-of-fund specialist, is launching its first mutual fund in partnership with Montage Investments, a group of asset managers with which the firm has an affiliation.

The Palmer Square Absolute Return Fund has an objective of capital appreciation and absolute returns, with low correlation to the broad equity and bond markets. It will be managed by Christopher Long, founder and president of Palmer Square, and Angie Long, the firm’s chief investment officer.

Long joined the firm earlier this year from JPMorgan Chase & Co, where she held roles including deputy head of credit trading for North America.

The fund will utilize a group of seven institutional managers operating a range of hedge-fund-type strategies including global macro, long/short and event-driven credit, long/short international and domestic equity, and convertible bond arbitrage.

Both investor and institutional share classes are available.