Principal Funds announces management, fee changes to some funds

By Toni Weeks

San Diego, Dec. 19 - Principal Funds, Inc. announced several management and fee changes to some of its funds in a 497 filing with the Securities and Exchange Commission on Friday.

The subadviser to the LargeCap Value Fund III will now be Barrow, Hanley, Mewhinney & Strauss, LLC. The portfolio managers will be James P. Barrow, Robert J. Chambers, Timothy J. Culler, Mark Giambrone and Ray Nixon Jr.

Christopher W. Marx, Joseph Gerard Paul, John D. Phillips Jr. and Greg Powell of AllianceBernstein LP are no longer portfolio managers.

The filing also noted that the SmallCap Blend Fund decreased some fees by 0.1%, dropping the total annual fund operating expenses to 1.47% from 1.57%.

In addition, Principal Funds Distributor, Inc. has agreed to limit class J distribution fees for all of the Principal Funds through Feb. 28, 2013 to 0.25% or less.

The funds are managed by Des Moines-based Principal Management Corp.

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