Relevance of strategy
This fund represents an active approach for exposure to pure high yield corporate bond market segment from US and Europe, though with USD and US-bias.
Principal Asset Management is the global investment management business for Principal Financial Group, a Nasdaq listed global financial services company established in 1879. Principal AM manages over US$590bn of assets globally covering the full client spectrum and across asset classes and vehicles.
The Principal GIF - Global High Yield Fund is an actively managed bond strategy that seeks to provide a return consisting of income and capital growth over the long term, by investing primarily in US and Europe USD public and private issued corporate high yield fixed income securities. The fund uses mainly a bottom-up security selection approach and seeks to add value primarily through value identification, downside protection, and risk diversification, with an emphasis on well-defined exit strategies to help minimise risk. Investment ideas are generated through internal research efforts, which are supplemented by external sources. The fund has a portfolio of >360 holdings.