Emphasizing active security selection across the high yield investment universe to identify and extract value from market inefficiencies, while limiting downside risk.
Time-tested process complemented by proprietary investment tools.
Team structure that fosters the swift translation of insight into action.
Rigorous fundamental credit research informed by top-down macro.
Cross-sector collaboration across our fixed income platform.
Manager
Principal Fixed Income
Inception
1 January 2008
Index
Bloomberg High Yield 2% Issuer Constrained Index
Targeted number of issuers
150-225
Expected turnover
30-50%
Investment vehicles
IMA, U.S. Mutual Fund
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.
No information
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.