Principal Financial’s has changed the name and strategy of one of its top mutual funds. The Principal Utilities Fund is now the Principal Equity Income Fund, and instead of investing all in utilities, it will invest in a more diverse portfolio that includes value stocks in many industries, real estate investment trusts (REITs), and convertible and preferred securities.

The overall goal – long-term income and capital growth for those with high incomes – will not change. Said Principal’s Director of Retirement & Investor Services Jim Sager, "Pure-utility funds may no longer offer the safety and high dividend yields sought by income-oriented investors."

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