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Principal Global Diversified Income Fund tops USD1b in less than two years

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The Principal Global Diversified Income Fund, launched December 2008 by Principal Funds, recently surpassed USD1bn in assets.

Less than three per cent of all funds registered at that time have reached the USD1bn milestone.

"Our diversified approach – by asset class, by manager, by geography – in building this fund is resonating with advisors and investors," says Mike Finnegan, portfolio adviser and Principal Funds chief investment officer. "We’re pleased with the fund’s growth, which we view as an affirmation of our strategy that seeks to maximise yield with a keen eye on risk."

The fund is also one of the top ten funds, based on sales, within Morningstar’s World Allocation category.

"We’ve been pleased with the fund," says Don DeWaay, chairman and chief executive of DeWaay Capital Management. "Being able to provide yield to investors in these challenging economic times is very attractive, especially with a tactical, multi-manager and multi-sector diversification model."

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