Relevance of strategy
This fund represents active exposure to global developed markets real estate-related companies and REITs.
Principal Asset Management is the global investment management business for Principal Financial Group, a Nasdaq listed global financial services company established in 1879. Principal AM manages over US$590bn of assets globally covering the full client spectrum and across asset classes and vehicles.
The Principal Global Property Securities Fund is an actively managed fund seeking to provide a total return by investing primarily in a global portfolio of public securities of companies engaged in property industry or whose value is largely derived from property assets. This may include real estate investment trusts (REITs), non-REIT real estate companies and similar structures, or equity and debt securities of companies with at least 50% of their assets, income or profits derived from property related products or services. The fund has a portfolio of >70 holdings.
The fund is sub-managed by 3 entities - Principal Real Estate Investors LLC is responsible for the North American investments, Principal Global Investors (Europe) Ltd is responsible for the European investments, and Principal Global Investors (Australia) Ltd is responsible for the Asian and Pacific markets investments.