Request URL: https://www.principal.com/InvestmentProfiles/overview.faces
Investment Type: separateaccount

Real Estate Securities Separate Account-Pro







Quick Facts


12/31/2002

12/06/2000
Real Estate
$6,759.97

Investment Strategy

   What's this?
The investment seeks to generate a total return. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies principally engaged in the real estate industry at the time of purchase. It invests in equity securities regardless of market capitalization (small, medium or large). The fund concentrates its investments (invest more than 25% of its net assets) in securities in the real estate industry. It is non-diversified.




Morningstar Style Box™

  as of 08/31/2024
   What's this?
Investment Style
Stylebox Market Capitalization

Overall Morningstar Star Rating™

  as of 09/30/2024
   What's this?

Out of 229 Real Estate Funds

StarRating

Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.


Total Returns



In situations where the net and gross fund expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the fund. The gross fund expense figure does not reflect any waivers or caps on the mutual fund. Performance shown reflects the application of net expenses of the fund.

In situations where the net and gross total investment expense figures are different, the mutual fund or the underlying fund in which a Separate Account invests has waived/capped a portion of its management fees through the date displayed in the waiver expiration date or contractual cap expiration date column. Differences may also be shown due to the fund family choosing to pay certain expenses that would normally be payable by the fund. Returns displayed are based on net total investment expense.



Month-End | Quarter-End
Average Annual Total Returns as of 09/30/2024
1 Month3 MonthYTD1 Year3 Year5 Year10 YearSince     
Inception*
Total Return % 2.35 14.87 12.14 28.82 1.71 3.85 6.83 8.75
U.S. REIT Linked Index % 3.17 16.79 15.17 33.60 4.78 5.35 7.70 ---
FTSE NAREIT All Equity REIT Index % 3.17 16.79 14.23 34.77 3.51 5.09 8.04 ---
Real Estate Category % 2.97 15.79 13.77 32.06 2.58 4.53 6.94 ---
Morningstar Percentile Rankings** --- --- --- 83 82 73 65 ---
# of Funds in Category 240 240 239 238 229 210 152 ---
12/31/200212/06/2000
**Morningstar percentile rankings are based on total returns.


Expenses

  as of 09/30/2024
Total Investment Expense - Gross: 2.46%
Total Investment Expense - Net: 2.46%
Total Investment Expense Gross Per $1,000 Invested: $24.60



Inv Manager or Sub-Advisor

   What's this?
Principal Real Estate Inv



Portfolio Managers

   What's this?
Kelly D. Rush , CFA
Since 12/06/2000
M.B.A. , University of Iowa

Anthony Kenkel , CFA
Since 06/15/2012
M.B.A. , University of Chicago

Keith Bokota , CFA
Since 11/22/2013
B.A. , Georgetown University






Morningstar
Before directing retirement funds to a separate account, investors should carefully consider the investment objectives, risks, charges and expenses of the separate account as well as their individual risk tolerance, time horizon and goals. For additional information contact us at 1-800-547-7754 or by visiting principal.com.

Some Separate Accounts are considered sub-advised investment options, while others are not. All Separate Accounts are available through a group annuity contract with the Principal Life Insurance Company®. Insurance products and plan administrative services are provided through Principal Life, a member of the Principal Financial Group®, Des Moines, IA 50392. See the fact sheets for the full names of the Separate Accounts. Certain investment options may not be available in all states or U.S. commonwealths. Principal Life reserves the right to defer payments or transfers from Principal Life Separate Accounts as described in the group annuity contracts providing access to the Separate Accounts or as required by applicable law. Such deferment will be based on factors that may include situations such as: unstable or disorderly financial markets; investment conditions which do not allow for orderly investment transactions; or investment, liquidity, and other risks. If you elect to allocate funds to a Separate Account, you may not be able to immediately withdraw them.

Returns shown for periods of less than one year are not annualized. All returns displayed here are after Total Investment Expense of the investment option.

Investment and Insurance products are:
* Not insured by the FDIC or Any Federal Government Agency
* Not a Deposit or Other Obligation of, or Guaranteed by Credit Union or Bank
* Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

For a Separate Account investment option, Total Investment Expense gross equals the sum of these expenses: (a)the amount of money, expressed as a percentage, deducted for the costs of managing a separate account where applicable, fees for plan administrative services and agent compensation, plus (b) if the separate account invests in an underlying mutual fund, the total fund operating expenses of the underlying mutual fund, plus (c) if an underlying mutual funds invests in other mutual funds, the weighted-average management fee of those other mutual funds, as listed in the most recent prospectus. The actual Total Investment Expense may change if an underlying mutual fund's allocation of assets to other mutual funds changes.

Investment Options may charge a short-term trading or redemption fee to protect the interests of long-term Contractholders.

Principal Real Estate Securities investment option is available as a mutual fund and as a Separate Account that invests wholly in R6 class shares of the Principal Funds, Inc. Real Estate Securities R6 Fund. All voting rights associated with ownership of shares in the mutual fund are the rights of the Separate Account, not of contract holders investing in the Separate Account. For further information on the underlying mutual fund, see the prospectus of the fund (PFRSX) at https://www.principalam.com/us/fund/PFRSX

Investing involves risk, including possible loss of principal.

The Year-to-Date Change represents an unannualized rate of return (change in value) since the start of the year. All returns shown here are after the Total Investment Expense of the investment option.

Fees and expenses are only one of several factors that participants and beneficiaries should consider when making investment decisions. The cumulative effect of fees and expenses can substantially reduce the growth of a participant's or beneficiary's retirement account. Participants and beneficiaries can visit the Employee Benefit Security Administration's website for an example demonstrating the long-term effect of fees and expenses.

Contingent Deferred Sales Charge (CDSC) - A deferred sales charge, which is paid at the time of redemption and generally decreases with the amount of time that fund shares are held before sale, ultimately declining to 0%. It is referred to as a contingent sales charge because of such declining schedule. The CDSC is also commonly called a back-end load. Performance displayed reflects the application of these charges.

As a Featured Partner Investment Option, the investment manager enters into an Agreement with Principal Life Insurance Company® and standardly pays an annual fee, which would range between $100,000 - $500,000. The features of the Agreement make certain services available to the investment manager, which may include but are not limited to, the use of the investment option by a plan sponsor in a RetireView® model and/or the availability of certain target date investments. The fee may also include applicable amounts under the Principal® Platform Connectivity Program.

Several investment companies have decided to impose redemption fees and/or transfer restrictions on certain plan and/or participant transactions. One or more of the investment options in your employer's retirement plan may be impacted. For more information, log into your account and visit us at at principal.com.

This investment option is considered non-diversified, which means it, or the underlying mutual fund, can invest a higher percentage of its assets in fewer individual issuers than a diversified investment. As a result, changes in the value of a single investment could cause greater fluctuations, gain or loss, in the net asset value than would occur if it was more diversified.

These calculated returns reflect the historical performance of the oldest share class of the fund, adjusted to reflect a portion of the fees and expenses of this share class. For time periods prior to inception date of the fund, predecessor performance is reflected. Please see the fund's prospectus for more information on specific expenses, and the fund's most recent shareholder report for actual date of first sale. Expenses are deducted from income earned by the fund. As a result, dividends and investment results will differ for each share class.

Real Estate investment options are subject to investment and liquidity risk and other risks inherent in real estate such as those associated with general and local economic conditions. Property values can decline due to environmental and other reasons. In addition, fluctuation in interest rates can negatively impact the performance of real estate investment options.

Investment manager/sub-advisor means either the Investment Advisor or Sub-Advisor to the investment option or the underlying asset(s). Principal Life Insurance Company is the Investment Manager as defined by ERISA, with regard to the assets of some Separate Accounts. Refer to the factsheet for more information.

The FTSE NAREIT All Equity REIT Index measures the performance of all tax-qualified REITs with more than 50 percent of total assets in qualifying real estate assets other than mortgages secured by real property that also meet minimum size and liquidity criteria. A REIT is a company that owns, and in most cases, operates income-producing real estate.

U.S. REIT Linked Index composition: For March 01, 2024, and after, the index is 100% the FTSE NAREIT All Equity REIT Index, and for the period prior to March 01, 2024, it is 100% the MSCI US REIT Index.

MSCI US REIT Index is a capitalization-weighted benchmark index of most actively traded Real Estate Investment Trusts (REITs), designed to measure real estate performance.