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Investment Type: pif

Global Multi-Strategy Inst Fund (PSMIX)

Quick Facts Ticker: PSMIX Inception Date: 10/24/2011 Morningstar Category: Multistrategy Total Net Assets (mil): $439.73	Investment Strategy    What's this? The investment seeks to achieve long-term capital appreciation with an emphasis on positive total returns and managing volatility. The fund invests in a broad range of instruments including, but not limited to, equities, bonds, currencies, commodities, convertible securities, and bank loans. Under normal market conditions, it invests in securities of issuers located throughout the world, including the U.S., invests at least 30% of its net assets in foreign and emerging market securities, and holds investments tied economically to at least twenty countries.
Morningstar Style Box™   as of 08/31/2025    What's this?	Overall Morningstar Star Rating™   as of 09/30/2025    What's this? Out of 104 Multistrategy Funds 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

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.

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.

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 fund. Performance when shown reflects the application of net expenses of the fund.

Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For more performance information, including the most recent month-end performance, visit principal.com.

Insurance products and plan administrative services provided through Principal Life Insurance Company®. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392. Certain investment options and contract[PB1] riders may not be available in all states or U.S. commonwealths.

Month-End | Quarter-End

Average Annual Total Returns as of 10/31/2025

1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since      Inception* Total Return % 0.84 4.32 8.45 10.11 8.07 6.53 4.47 4.24 HFRX Global Hedge Fund Index % --- --- --- --- --- --- --- --- Multistrategy Category % --- --- --- --- --- --- --- --- Morningstar Percentile Rankings** --- --- --- --- --- --- --- --- # of Funds in Category --- --- --- --- --- --- --- ---

* Inception Date: 10/24/2011

**Morningstar percentile rankings are based on total returns.

Expenses   as of 10/31/2025 Total Investment Expense - Gross: 1.49% Total Investment Expense - Net: 1.48% Contractual Cap Date: 12/30/2025 Total Investment Expense Gross Per $1,000 Invested: $14.90

Inv Manager or Sub-Advisor

   What's this?

Loomis Sayles & Company

LA Capital Management

Wellington Management Co, LLP

Graham Capital Management

Gotham Asset Management

Principal Global Investors

Westchester Capital Mgmt, Inc.

Record Currency Management

Crabel Capital Management

Portfolio Managers

   What's this?

Benjamin E. Rotenberg , CFA , CAIA Since 03/07/2014 B.A. , Pomona College

Jessica S. Bush , CFA Since 03/07/2014 B.A. , University of Michigan

May Tong , CFA Since 05/10/2021 B.A./B.S. , Boston College

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