Principal Funds Earns Two Lipper Fund Awards
Awards recognize mutual funds with consistently strong performance
March 25, 2010 (Des Moines, IA) - Two Principal Funds have received Lipper Fund Awards for consistent multi-year performance. The award-winning funds include:
- Principal Equity Income Fund; A (PQIAX): best equity income fund for the 10-year period
- Principal High Yield Fund I; Institutional (PYHIX): best high current yield fund for the three-year period
Lipper, a leading global research firm, presented the awards at a March 24 ceremony in New York City.
"We are very proud of these awards and are committed to producing top-tier results at a time when financial professionals and their clients are focused on rebuilding assets," said Nora Everett, president of Principal Funds. "This recognition is a testament to our rigorous asset management process and disciplined due-diligence program."
The Principal Equity Income Fund is subadvised by Edge Asset Management, Inc., an investment management boutique affiliated with Principal Global Investors. The Principal High Yield Fund I is subadvised by J.P. Morgan Investment Management, Inc., and Neuberger Berman Fixed Income LLC.
The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community.
About Principal Funds
Principal Funds is a leading provider of mutual funds, with $55.6 billion in assets under management. Principal Funds brings expertise in global investment management, asset allocation and retirement leadership to financial professionals and investors. Including its target-risk and target-date offerings, Principal Funds is the fifth-largest manager of lifecycle funds in the industry. The companies that make up Principal Funds are members of the Principal Financial Group®. For more information, visit www.principalfunds.com.
About the Principal Financial Group
The Principal Financial Group® (The Principal®) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $284.7 billion in assets under management and serves some 18.9 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Past performance is no guarantee of future results. Funds shown may have recent negative performance. Please see principalfunds.com or call 800-222-5852 for current performance information.
Before investing, you should carefully consider a fund's investment objectives, risks, charges and expenses. Contact your financial professional, visit www.principalfunds.com, or call 800.222.5852 to obtain a prospectus containing this and other information. Read the prospectus carefully before investing.
A mutual fund's share price and investment return will vary with market conditions, and the principal value of an investment when you sell your shares may be more or less than the original cost.
Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Lower-rated securities are subject to additional credit and default risks. Not all investors may be eligible to invest in the Institutional Class of Shares.
The calculation periods extend over 36, 60 and 120 months. The highest Lipper Leader for Consistent Return (effective return) value within each eligible classification determines the fund classification winner over 3, 5 or 10 years. Equity Income Fund - 3 yrs: 158/237 funds, 5 yrs: 72/180 funds, 10 yrs: 1/98 funds. High Yield Fund I - 3 yrs: 1/385 funds, 5 yrs: 5/337 funds.
Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc., member of the Principal Financial Group.® Principal Funds Distributor, Principal Shareholder Services, Principal Management Corporation and its affiliates, and Principal Funds, Inc. are collectively referred to as Principal Funds.
- As of December 31, 2009. Includes all share classes of the Principal Funds, Inc and Principal Variable Contracts Fund, Inc.
- FRC Mutual Fund Lifecycle Report 4Q09.
- The Principal Financial Group and The Principal are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
- As of December 31, 2009.