Money Management Executive
Principal Adds Value Fund to Retirement Lineup
July 19, 2001, 1:00 a.m. EDT 1 Min Read
Principal Advantage Program Expands to 44 Funds
The Principal Financial Group has added another fund to the Principal Investors Fund, a fund series launched earlier this year, the company announced yesterday.
The Principal Investors Fund is an investment vehicle for Principal Advantage, a package of investments and retirement services for employer-sponsored retirement plans. The new fund, the Principal Investors Capital Preservation Fund, is the 44th investment option available to customers of the Principal Advantage program.
The new fund will be available, not only to 401(k) plan participants, but also to 403(b) plan and IRA investors, according to the company. Satisfied customers can therefore roll over 401(k) or 403(b) assets into an IRA while keeping the same fund.
Principal Capital Income Investors, a member of the Principal Financial Group that manages over $26 billion in fixed-income assets, will advise the new fund. The fund will invest at least 80% of its assets in fixed-income securities with short to intermediate maturities, and the rest in cash, cash equivalents, and wrap contracts.
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