Principal Fds, Inc. Equity Income Fd Cl A
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- Principal Funds, Inc. (Principal Funds) serves as the investment adviser and distributor for a diverse lineup of mutual funds, including equity, fixed income, target-date, and alternative investment strategies offered through various share classes such as Class A, Institutional, and R shares; Principal Equity Income Fund Class A (PQIAX) represents one of its flagship offerings, seeking current income and long-term growth of income and capital by investing at least 80% of net assets in dividend-paying equity securities of large- and medium-capitalization companies, emphasizing value-oriented dividend growers with a sector-neutral approach to mitigate risk. The firm provides these products to individual investors, retirement plans, and institutional clients across the United States, with Principal Financial Group, Inc. (PFG, founded 1879 and headquartered in Des Moines, Iowa) as its ultimate parent overseeing global asset management operations spanning over 80 markets and $601.5 billion in assets under management as of September 30, 2025. Principal Funds operates within Principal Asset Management, which manages specialized teams across equity, fixed income, real estate, and multi-asset strategies, serving 1,600+ institutional clients globally. In recent developments, Principal Financial Group completed the integration of its 2019 acquisition of Wells Fargo's Institutional Retirement and Trust business in late 2023, adding approximately $150 billion in assets and 4.3 million participants to bolster retirement solutions. The company expanded its employee stock ownership plan (ESOP) services through the 2024 acquisition of Ascensus' ESOP recordkeeping business, announced in May and expected to close by Q2 2024, increasing its ESOP plans to over 2,000 and participants to 765,000. Principal Funds announced adjustments to its ETF lineup and earned recognition as a Best Place to Work in Money Management by Pensions & Investments for the 14th consecutive year as of December 2025, underscoring ongoing strategic enhancements in product offerings and operational excellence.