Seeking to provide a high level of income that is exempt from federal income tax while helping protect investors’ capital.
Attractive tax-free income, singularly focused on mid-quality municipal credit
Active management seeks the optimal spot on the yield curve and higher exposure to bonds rated A and BBB, in an effort to maximize yield
Preference for revenue bonds that provide attractive relative yield and less sensitivity to business cycles
Ability to participate in large and small issues, exploiting market and sector dislocations, through credit research
Manager
Principal Fixed Income
Inception
1 January 2012
Index
Bloomberg Municipal Bond Index
Targeted number of holdings
225-250
Expected turnover
30% (assuming normal market conditions)
Investment vehicles
SMA, 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. Risk management techniques seek to mitigate or reduce risk but cannot remove it.
Investment guidelines are subject to change.
Bloomberg Municipal Bond Index represents the long-term, investment-grade tax-exempt bond market.
Principal Fixed Income is an investment team within Principal Global Investors.