Principal Global Multi-Strategy Fund
Overview
Performance
As of 10/31/2025
YTD
8.13%
1-year
9.75%
3-year
7.64%
5-year
6.07%
10-year
4.05%
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted.
Overall Morningstar Rating™
As of 09/30/2025
Fund details
as of
11/05/2025
unless indicated otherwise
Fund ticker
PMSAX
CUSIP
74255L720
Benchmark
HFRX Global Hedge Fund Index
NAV
$11.83
Total fund assets
$439.73M
Dividend frequency
Annually
Minimum investment
$1,000.00
Inception date
10/24/2011
Morningstar category
Multi-Strategy
Investment approach
The investment seeks to achieve long-term capital appreciation with an emphasis on positive total returns and managing volatility.
The fund invests in a broad range of instruments including, but not limited to, equities, bonds, currencies, commodities, convertible securities, and bank loans. Under normal market conditions, it invests in securities of issuers located throughout the world, including the U.S., invests at least 30% of its net assets in foreign and emerging market securities, and holds investments tied economically to at least twenty countries.
Performance & expenses
As of
10/31/2025
| Name | 1 month | 3 month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | Overall |
|---|---|---|---|---|---|---|---|---|---|
| Excluding sales charge | 0.85% | 4.23% | 8.13% | 9.75% | 7.64% | 6.07% | 4.05% | 3.83% | — |
| Including sales charge | -2.95% | 0.34% | 4.04% | 5.59% | 6.28% | 5.26% | 3.65% | 3.55% | — |
| Benchmark performance | — | — | — | — | — | — | — | — | — |
| Morningstar category average | — | — | — | — | — | — | — | — | — |
| Morningstar percentile rankings | — | — | — | 39 | 33 | 33 | 28 | — | — |
| # of funds in category | 124 | 124 | 121 | 121 | 104 | 103 | 66 | — | 104 |
| Morningstar rating | — | — | — | — | — |
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted.
Returns shown for periods of less than one year are not annualized.
Index performance information: no deductions for fees, expenses or taxes. Indices are unmanaged and individuals cannot invest directly in an index.
| Name | 1 month | 3 month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | Overall |
|---|---|---|---|---|---|---|---|---|---|
| Excluding sales charge | 1.82% | 4.08% | 7.21% | 7.64% | 8.22% | 5.77% | 4.05% | 3.79% | — |
| Including sales charge | -2.00% | 0.17% | 3.16% | 3.60% | 6.86% | 4.97% | 3.65% | 3.51% | — |
| Benchmark performance HFRX Global Hedge Fund Index |
1.46% | 3.19% | 5.65% | 5.84% | 4.72% | 3.61% | 2.88% | — | — |
| Morningstar category average Multi-Strategy |
1.70% | 3.40% | 4.93% | 5.37% | 7.11% | 5.51% | 3.02% | — | — |
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted.
Returns shown for periods of less than one year are not annualized.
Index performance information: no deductions for fees, expenses or taxes. Indices are unmanaged and individuals cannot invest directly in an index.
| Data | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Excluding sales charge | 8.45% | 6.09% | -2.30% | 5.14% | 4.68% |
| Including sales charge | 4.36% | 2.08% | -5.94% | 1.17% | 0.78% |
| Morningstar category average Multi-Strategy |
6.09% | 6.24% | -2.07% | 6.86% | — |
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted.
| Date | Type | Dollar per share |
|---|---|---|
| 12/27/2024 | Income | 0.1298 |
| 12/19/2024 | Short Term Capital Gain | 0.0003 |
| 12/19/2024 | Long Term Capital Gain | 0.0035 |
| 12/27/2023 | Income | 0.3149 |
| 12/28/2022 | Income | 0.5536 |
| 12/20/2022 | Short Term Capital Gain | 0.0277 |
| 12/20/2022 | Long Term Capital Gain | 0.5950 |
Expense ratio gross
1.81%
Expense ratio net
1.81%
Expense limit expiration date
—
Maximum up-front sales charge
3.75%
Contingent deferred sales charge
1.00%
A maximum sales charge of 3.75% may apply for Class A shares. Performance reflects this maximum sales charge when a sales charge is indicated.
In situations where the net and gross fund expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the fund. The gross fund expense figure does not reflect any waivers or caps on the mutual fund. Performance shown reflects the application of net expenses of the fund.
Ratings
Morningstar ratings
as of 09/30/2025
Holdings
Top 10
as of
09/30/2025
% of Assets
% of Assets
1.
Principal Government Money Mar
16.43%
2.
Canadian Treasury Bill
2.37%
3.
Canadian Treasury Bill
1.89%
4.
GMS Cayman Corporation
1.50%
5.
GMS Cayman Corporation
0.91%
6.
Canadian Treasury Bill
0.90%
7.
Endeavor Group Holdings Inc
0.86%
8.
Mr Cooper Group Inc
0.84%
9.
NVIDIA Corp
0.79%
10.
United States Treasury Note/Bo
0.77%
Portfolio management
Jessica Bush, CFA
24 years of experience
Ben Rotenberg, CFA, CAIA
32 years of experience
May Tong, CFA
24 years of experience