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.
Strategy differentiators
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Time-tested process complemented by proprietary investment tools.
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Rigorous fundamental credit research informed by top-down macro.
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Team structure that fosters the swift translation of insight into action.
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Cross-sector collaboration across our fixed income platform.
Strategy facts
Portfolio management
PM Title
Head of High Yield
Name
Mark Denkinger, CFA
33 years of experience
PM Title
Portfolio Manager
Name
Joshua Rank, CFA
23 years of experience
PM Title
Portfolio Manager
Name
Darrin Smith, CFA
32 years of experience
Get the latest insights.
Fixed income perspectives 1Q 2025: Finding opportunities in a dynamic global environment
Themes, outlook, and investment implications across global fixed income markets.
Credit maturity wall: Not as difficult a climb as it may seem
2 min
A much-flagged risk for this year is that, due to the Fed’s 2022-23 hiking cycle, the wall of maturing debt…
By
Seema Shah
Where the looming credit maturity wall and the economy collide
7 min
Assuming the economy remains fairly robust, a deeper look into the refinancing dynamics shows that, except…
By
Seema Shah
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. Lower-rated securities are subject to additional credit and default risks.
Investment guidelines are subject to change. Not all investment options are available in all jurisdictions.
Bloomberg U.S. High Yield 2% Issuer Constrained Index is a component of the U.S. Corporate High Yield Bond Index with a maximum exposure of 2% per issuer. The index includes all fixed income securities having a maximum quality rating of Ba1, a minimum amount outstanding of $150 million, and at least 1 year to maturity. The Bloomberg U.S. High Yield 2% Issuer Constrained Index covers fixed rate, noninvestment grade securities rated BB+ through C by S&P. No single issuer can comprise more than 2% of the Index.
Principal Fixed Income is an investment team within Principal Global Investors.