Principal Funds announces new Principal Real Estate Debt Income Fund

By Tali Rackner

Norfolk, Va., Jan. 21 – Principal Funds announced the launch of the Principal Real Estate Debt Income Fund, according to a press release.

The fund seeks to provide current income and allow investors access to commercial real estate debt. It expands Principal Funds’ real estate mutual fund offerings beyond public real estate equity into public real estate debt.

“We continue to see strong demand for income, which is driving interest in our real estate expertise and products,” Principal president and chief executive officer Nora Everett said in the release. “As the real estate mutual fund universe continues to grow, we have a deep, talented and long-tenured real estate team helping us design and launch these innovative funds.”

Principal also announced the launch of the Principal Real Estate Allocation Fund.

Both funds became effective Dec. 31 and are managed by Principal Real Estate Investors, a wholly owned subsidiary of Principal Global Investors.

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