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Fixed income investment team

Principal Morley

Committed to designing and constructing capital preservation strategies to help investors achieve retirement and income goals.
Our team

Principal Morley is a specialized U.S. stable value manager, focused almost exclusively on managing stable value assets for our institutional client base. Our seasoned investment and service teams collaborate to offer innovative solutions, tailored to meet client investment needs, as well as a distinct client experience, designed to provide preservation of principal with stability and consistency of returns.​

Meet our team (PDF)
Our investment approach

We believe the best way to maximize stable value performance is through a quantitative portfolio construction process that focuses first on client needs, combined with empirically supported risk and return expectations. We combine in-house active management with external sub-advisers to achieve a diversified portfolio seeking to provide complementary sources of excess return.​
Our capabilities​

We offer three distinct fee competitive stable value investment solutions to meet your capital preservation needs.

Collective Trust

Morley Stable Value Fund
Principal Stable Value Fund

PGI Trust Co. – Trustee | Principal Morley – Investment manager

  • Diversified investment strategy – mandate, manager, and wrap issuer
  • $0 minimum investment
  • Range of service provider offsets available
  • Morley Stable Value Fund – multiple platforms/TPAs
  • Principal Stable Value Fund – (Principal® platform only)

Individual Portfolio

Custom stable value separately managed account

Tailored portfolio construction

  • Multi sub-advisers
  • Multi mandate
  • Multi wrap issuers

Custom investment guidelines and wrap structure

Individual Portfolio

Principal Morley/Principal® wrapped portfolio

Blending Principal Morley and Principal Asset Management® investment capabilities with unique Principal Life Insurance Company® wrap contract guidelines and terms

  • Guideline flexibility
  • Income/yield orientation
  • Multi wrap issuers
  • Stand-alone stable value fund and custom target date fund strategies available

We design and construct capital preservation strategies to help investors achieve retirement and income goals.

Firm

  • Dedicated first and foremost to capital preservation strategies for over 42 years
  • Over $16 billion in assets under management
  • Nearly 1 in 10 plans using a stable value CIT use a trust management by Principal Morley

Team

  • Averages nearly 20 years stable value and fixed income experience through multiple market cycles.
  • Seasoned teams collaborate to ensure a distinct client experience
  • Relationship team dedicated to fulfilling unique client needs

Strategy

  • Proprietary modeling provides a framework for customizing portfolios
  • Diversified tailored investment strategies designed to optimize risk/return objectives
  • Risk management embedded throughout entire investment process
Get to know our fixed income investment teams.

Our fixed income investment teams have a track record of solving for a wide range of personalized investor objectives.
Principal Alternative Credit
A seasoned investment team with significant credit investment experience across all major industries and market cycles, focused on providing our global investment base access to private credit solutions.
Principal Finisterre
As a specialist emerging market debt manager committed to delivering solutions that can perform in any market condition, the team utilizes an unconstrained, time-tested approach to managing income, volatility, and liquidity.
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.
Spectrum Asset Management
Extensive experience managing global preferred and capital securities with a robust fundamental credit research approach, including both top-down and bottom-up analyses that lead to selective and thoughtful portfolio construction.
Additional resources
Stable Value FAQs What is Stable Value
Get the latest insights
Fixed income
Stable Value Insights Capital preservation comparison—Update
PDF
Capital preservation investment insights focusing on a comparison of stable value, money market and short-term bond funds.
June 23, 2026
View all

Past performance does not guarantee future results.

Investing in stable value is subject to many similar risks of investing in fixed income, including, but not limited to, credit risk, default risk, interest rate risk, issuer risk, liquidity risk, manager risk, market risk, regulatory risk, and tax and accounting risk. Risk management techniques seek to mitigate or reduce risk but cannot remove it.

Principal Morley is an investment team within Principal Global Investors.

Footnotes

As of June 30, 2026.

Source: Stable Value Investment & Policy Report, 2025 Manager Edition as of 12/31/2025