74261Q853
Principal International Equity Fund
Portfolio management
Literature
Fund details
CUSIP
74261Q853
Benchmark
MSCI ACWI Ex-U.S. NTR Index
Fund inception date
02/21/2025
Dividend frequency
Dividends Reinvested
Minimum investment
$50,000,000.00
Inception date
—
Portfolio management
Paul Blankenhagen
Paul Blankenhagen, CFA
Portfolio Manager
34 years of experience
George
George P. Maris, CFA
Executive Managing Director - CIO and Global Head of Equities
28 years of experience
Matt Peron
Matthew Peron
Managing Director - Deputy CIO Equities
34 years of experience

No information
Literature
Investment materials Annual Report
Proxy Voting Document
The collective investment trust named above (the CIT) is a collective investment trust maintained by Principal Global Investors Trust Company (the Trust Company). The Trust Company has retained Principal Global Investors LLC (the Advisor), to serve as investment advisor with respect to the CIT, subject to the Trust Company’s supervision and review. The Advisor is an indirect wholly owned subsidiary of Principal Financial Group, Inc., and is under common control with the Trust Company.
The CIT is not a mutual fund and is not registered with the Securities and Exchange Commission, the State of Oregon, or any other regulatory body. Units of the CIT are not deposits or obligations of, guaranteed by, or insured by the Trust Company or any affiliate, and are not insured by the FDIC or any other federal or state government agency. The value of the CIT will fluctuate so that when redeemed, units may be worth more or less than the original cost.
The CIT is available only to certain qualified retirement plans and governmental 457(b) plans.
The declaration of trust, participation agreement, and disclosure documents contain important information about investment objectives, risks, fees and expenses associated with investment in the Fund and should be read carefully before investing.
These calculated returns reflect the historical performance of the oldest share class of the Fund, adjusted to reflect the fees and expenses of the share class shown. Please see the Fund’s disclosure documents for more information.
The holdings listed do not constitute a recommendation to purchase or sell a particular security. Cash and/or derivative positions that are not part of the core investment strategy will not be reflected in the top holdings list.
NOT FDIC INSURED - MAY LOSE VALUE - NO BANK GUARANTEE
International investing involves greater risks such as currency fluctuations, political/social instability, and differing accounting standards.
Morningstar percentile rankings are based on total returns and do not reflect the inclusion of sales charges. If sales charges were reflected, rankings could be lower.
Performance assumes reinvestment of all dividends and capital gains.
The MSCI ACWI ex USA Index captures large and mid cap representation across 22 of 23 Developed Markets (DM) countries (excluding the US) and 27 Emerging Markets (EM) countries*. With 2,352 constituents, the index covers approximately 85% of the global equity opportunity set outside the US.
© 2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please refer to the Morningstar shareholder disclosures .
The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.
The Analyst-Driven % data point displays the weighted percentage of a vehicle’s pillar ratings assigned directly or indirectly by analysts.
The Data Coverage % data point is a summary metric describing the level of data completeness used to generate the overall rating.
Overview
Fund details
CUSIP
74261Q853
Benchmark
MSCI ACWI Ex-U.S. NTR Index
Fund inception date
02/21/2025
Dividend frequency
Dividends Reinvested
Minimum investment
$50,000,000.00
Inception date
—
Portfolio management
Paul Blankenhagen
Paul Blankenhagen, CFA
Portfolio Manager
34 years of experience
George
George P. Maris, CFA
Executive Managing Director - CIO and Global Head of Equities
28 years of experience
Matt Peron
Matthew Peron
Managing Director - Deputy CIO Equities
34 years of experience

No information
Literature
Investment materials Annual Report
Proxy Voting Document
The collective investment trust named above (the CIT) is a collective investment trust maintained by Principal Global Investors Trust Company (the Trust Company). The Trust Company has retained Principal Global Investors LLC (the Advisor), to serve as investment advisor with respect to the CIT, subject to the Trust Company’s supervision and review. The Advisor is an indirect wholly owned subsidiary of Principal Financial Group, Inc., and is under common control with the Trust Company.
The CIT is not a mutual fund and is not registered with the Securities and Exchange Commission, the State of Oregon, or any other regulatory body. Units of the CIT are not deposits or obligations of, guaranteed by, or insured by the Trust Company or any affiliate, and are not insured by the FDIC or any other federal or state government agency. The value of the CIT will fluctuate so that when redeemed, units may be worth more or less than the original cost.
The CIT is available only to certain qualified retirement plans and governmental 457(b) plans.
The declaration of trust, participation agreement, and disclosure documents contain important information about investment objectives, risks, fees and expenses associated with investment in the Fund and should be read carefully before investing.
These calculated returns reflect the historical performance of the oldest share class of the Fund, adjusted to reflect the fees and expenses of the share class shown. Please see the Fund’s disclosure documents for more information.
The holdings listed do not constitute a recommendation to purchase or sell a particular security. Cash and/or derivative positions that are not part of the core investment strategy will not be reflected in the top holdings list.
NOT FDIC INSURED - MAY LOSE VALUE - NO BANK GUARANTEE
International investing involves greater risks such as currency fluctuations, political/social instability, and differing accounting standards.
Morningstar percentile rankings are based on total returns and do not reflect the inclusion of sales charges. If sales charges were reflected, rankings could be lower.
Performance assumes reinvestment of all dividends and capital gains.
The MSCI ACWI ex USA Index captures large and mid cap representation across 22 of 23 Developed Markets (DM) countries (excluding the US) and 27 Emerging Markets (EM) countries*. With 2,352 constituents, the index covers approximately 85% of the global equity opportunity set outside the US.
© 2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please refer to the Morningstar shareholder disclosures .
The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.
The Analyst-Driven % data point displays the weighted percentage of a vehicle’s pillar ratings assigned directly or indirectly by analysts.
The Data Coverage % data point is a summary metric describing the level of data completeness used to generate the overall rating.