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Principal Global Investors Announces New Head of Emerging Market Equities

Mihail Dobrinov promoted to lead role

November 12, 2012 (Des Moines, Iowa) – Principal Global Investors, LLC, a leading global asset manager and a member of the Principal Financial Group® (NYSE:PFG), announces Mihail Dobrinov has been named head of the emerging market equities team.

In this role, Dobrinov is responsible for the management of $9.3 billion in assets, including portfolio management of the $1.62 billion Principal International Emerging Markets fund and $1.8 billion in Asian regional mandates.

“We are pleased to announce Mihail as the new lead of the emerging market equities team,” said Barb McKenzie, executive director - chief operating officer at Principal Global Investors. “He is ideally suited to this new role, with 17 years of emerging markets investment experience with Principal Global Investors. He remains well versed in our time-tested, globally integrated investment process and research platform.”

Dobrinov joined Principal Global Investors in 1995 as an international and emerging market debt and currency specialist. He joined the equities team in 2002 and has served as a portfolio manager for emerging markets equities since 2007. He replaces Michael Reynal, who has left Principal Global Investors, in this role. For the last several years, Dobrinov and Reynal have been co-portfolio managers on most of the assets managed by the emerging market equities team, and Dobrinov continues in that capacity.

Principal Global Investors has been managing emerging market equities since 1987 as part of its International Equity strategy, and began managing a dedicated Emerging Markets Equity strategy in 1995. Since then, the firm has developed a suite of complementary emerging markets and regional Asian equity strategies. The Principal has asset management functions in key emerging markets around the globe, including China, Brazil and India.

“Mihail’s familiarity with our proprietary Global Research Platform and globally integrated investment process make him a unique fit to take the lead on our emerging market equities team,” said Mustafa Sagun, chief investment officer, equities, at Principal Global Investors. “We’re confident Mihail’s leadership and experience will prove an excellent fit in his new role.”

About Principal Global Investors

Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group®, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $276.2 billion in assets[1] primarily for retirement plans and other institutional clients[2].

About the Principal Financial Group

The Principal Financial Group® (The Principal®)[3] is a global investment management leader including retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $392.2 billion in assets under management[4] and serves some 18.3 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.



[1]
As of September 30, 2012.
[2]
Principal Global Investors is the asset management arm of the Principal Financial Group ® (The Principal ®)³ and includes the asset management operations of the following subsidiaries of The Principal: Principal Global Investors, LLC; Principal Real Estate Investors, LLC; Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Columbus Circle Investors; Edge Asset Management, Inc.; Morley Financial Services Inc.; Finisterre Capital, LLP; Origin Asset Management, LLP; Principal Global Investors (Europe) Limited; Principal Global Investors (Singapore) Ltd.; Principal Global Investors (Australia) Ltd.; Principal Global Investors (Japan) Ltd.; Principal Global Investors (Hong Kong) Ltd.; CIMB-Principal Islamic Asset Management Sdn. Bhd.; and the majority owned affiliates of Principal International, Inc. Assets under management includes assets managed by investment professionals of Principal Global Investors under dual employee arrangements with other subsidiaries of The Principal.
[3]
“The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
[4]
As of September 30, 2012.

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