Home Fixed income investment strategies Short-Term Income
Short-Term Income

A high-quality short duration strategy seeking to provide an attractive level of income, while protecting principal.
Strategy differentiators

Independent credit research with a preference toward issuers with a margin of safety.

Longstanding investment process that integrates a top-down, bottom-up analysis and a disciplined focus on risk management.

Long-term investment horizon seeking to capitalize on value opportunities.
Strategy facts

Manager

Principal Fixed Income

Inception

1 February 1998

Index

Bloomberg U.S. Credit 1-3 Year Index

Targeted number of issuers

150-225

Expected turnover

50%

Investment vehicles

U.S. Mutual Fund
Portfolio management
Principal Fixed Income

A global platform of integrated and specialized teams focused on delivering innovative, actively managed total return and yield-oriented investment solutions through capabilities that span all major fixed income sectors.

Learn more about Principal Fixed Income
Scott J. Peterson, CFA
Portfolio Manager
37 years of experience
Jeffrey Callahan
Jeff Callahan, CFA
Portfolio Manager
20 years of experience
Mike
Michael Goosay
Executive Managing Director - CIO and Global Head of Fixed Income
35 years of experience

No information
Get the latest insights
Fixed income
Bond market sell-off: Higher yields, stronger fundamentals
Government bond yields have recently risen sharply, pushing borrowing costs to their highest levels in years and extending the bond market sell-off. 10-year Treasury yields have moved above 5.2%, their highest level since 2007, while 30-year yields have climbed beyond 5.5%, the highest level since 2004.
September 29, 2026
Fixed income
Quick takes
Private credit: Looking beyond the headlines
Private credit stress is concentrated, creating opportunities where fundamentals remain strong.
September 11, 2026
Fixed income
Private credit: Opportunities amid market dislocation
Private credit faces headline-driven pressures, but market dislocation is creating new opportunities.
September 1, 2026
View all

Past performance does not guarantee future results.

Fixed‐income investment options are subject to interest rate risk, and their value will decline as interest rates rise.

Investment guidelines are subject to change.

Not all investment options are available in all jurisdictions.

The Bloomberg U.S. Credit 1-3 Year Index is composed of publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity, and quality requirements. To qualify, bonds must be SEC-registered.

Principal Fixed Income is an investment team within Principal Global Investors.