page assignment hero

Strategy differentiators

  • Time-tested process complemented by proprietary investment tools.

  • Rigorous fundamental credit research informed by top-down macro.

  • Team structure that fosters the swift translation of insight into action.

  • Cross-sector collaboration across our fixed income platform.

Strategy facts

  • Manager

    Principal Fixed Income

  • Inception

    1 January 2008

  • Index

    Bloomberg High Yield 2% Issuer Constrained Index

  • Targeted number of holdings


  • Expected turnover


  • Investment vehicles

    IMA, U.S. Mutual Fund

Portfolio management

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.

PM Title
Head of High Yield
Mark Denkinger, CFA
33 years of experience
PM Title
Portfolio Manager
Joshua Rank, CFA
23 years of experience
PM Title
Portfolio Manager
Darrin Smith, CFA
32 years of experience
Learn more

Get the latest insights.

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.