On Dec. 20, 2023, Principal announced that two new sleeves will be added to the Diversified Real Asset fund and collective investment trust sometime during 2024's first quarter. These impending additions do not alter the strategy or underlying investment philosophy. The team will add one sleeve dedicated to smaller tactical purchases via passive exchange-traded funds. This sleeve will be responsible for the tactical moves previously made within the existing liquidity sleeve for better transparency. The second sleeve will introduce a passive global natural-resources exposure that complements the existing natural-resources sleeve. Principal's passive equities team, reporting to Diversified Real Asset's lead portfolio manager May Tong, will manage the exposure. It is expected to receive 2% to 8% of portfolio assets, though the overall natural-resources target allocation remains at 15%. These impending changes do not affect the strategy's Average People and Process Pillar ratings.
Principal Diversified Real Asset Instl PDRDX
- NAV / 1-Day Return 11.82 / −0.08 %
- Total Assets 3.1 Bil
-
Adj. Expense Ratio
- Expense Ratio 0.840%
- Distribution Fee Level Average
- Share Class Type Institutional
- Category Global Allocation
- Investment Style Mid Value
- Credit Quality / Interest Rate Sensitivity High/Moderate
- Status Open
- TTM Yield 2.40%
- Turnover 72%
USD | NAV as of Oct 04, 2024 | 1-Day Return as of Oct 04, 2024, 10:29 PM GMT+0
Morningstar’s Analysis PDRDX
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Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 29.5
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
---|---|---|---|
Dracay Wellington | 10.25 | 319.7 Mil | — |
Dracay Corecommodity - 30 | 4.85 | 151.1 Mil | — |
Principal Government Money Market R-6 | 3.49 | 108.7 Mil | — |
iShares Global Infrastructure ETF | 2.53 | 78.9 Mil | — |
Cash Offset | 2.44 | 76.0 Mil | — |
Global X US Infrastructure Dev ETF | 2.03 | 63.3 Mil | — |
Vanguard Real Estate ETF | 1.46 | 45.5 Mil | — |
Welltower Inc | 1.30 | 40.4 Mil | Real Estate |
NextEra Energy Inc | 1.25 | 38.9 Mil | Utilities |
Equinix Inc | 1.20 | 37.4 Mil | Real Estate |