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POSIX Principal Global Real Estate Sec Instl

  • Fund
  • POSIX
  • Price as of: Aug 08, 2016
  • $9.71
  • + $0.03
  • + 0.31%
  • Category
  • Global Real Estate

POSIX - Profile

Vitals

  • YTD Return 8.7%
  • 3 Yr Annualized Return 9.7%
  • 5 Yr Annualized Return 9.6%
  • Net Assets $3.36 B
  • Holdings in Top 10 31.3%

52 WEEK LOW AND HIGH

$9.71
$7.94
$9.81

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.90%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 47.50%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

Global Real Estate
  • Fund Type Open End Mutual Fund
  • Investment Style Global Real Estate

Distributions

  • YTD Total Return 8.7%
  • 3 Yr Annualized Total Return 9.7%
  • 5 Yr Annualized Total Return 9.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.55%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Principal Global Real Estate Securities Fund
  • Fund Family Name Principal Funds
  • Inception Date Oct 01, 2007
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Simon Hedger

Fund Description

The Principal Global Real Estate Securities Fund Institutional Class (POSIX) looks to provide investors with a high rate of total return through capital appreciation and dividends. POSIX does this by betting on a variety of real estate-related equities both at home and abroad. These equities include REITs, real estate developers, property managers and real estate brokers. The fund can invest across the entire market cap spectrum and holds small-, mid- and large-cap stocks. POSIX is allocated roughly 50/50 between U.S. and international holdings.

With its expenses below the category average, POSIX makes a prime core position in any portfolio. The fund is managed by Principal Management and is subadvised by Principal Real Estate Investors.

POSIX - Performance

Return Ranking - Trailing

Period POSIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 8.7% -6.2% 15.4% 48.09% 3
1 Yr 10.2% -11.5% 19.2% 38.59% 2
3 Yr 9.7% * -1.9% 14.3% 17.61% 1
5 Yr 9.6% * -2.5% 12.8% 5.84% 1
10 Yr N/A * -2.6% 7.6% N/A N/A

* Annualized


Return Ranking - Calendar

Period POSIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -2.8% -51.8% 3.7% 22.03% 2
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

Total Return Ranking - Trailing

Period POSIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 8.7% -6.2% 15.4% 49.16% 3
1 Yr 10.2% -15.7% 19.2% 29.89% 2
3 Yr 9.7% * -3.7% 14.3% 14.20% 1
5 Yr 9.6% * -3.6% 12.8% 4.55% 1
10 Yr N/A * -3.1% 7.6% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period POSIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -2.8% -51.8% 3.7% 22.03% 2
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

NAV & Total Return History

POSIX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

POSIX Category Low Category High POSIX % Rank Quintile
Net Assets 3.36 B 3 M 5.26 B 3.26% 1
Number of Holdings 87 20 661 13.04% 3
Net Assets in Top 10 1 B 1.4 M 3.91 B 2.17% 1
Weighting of Top 10 31.3% 17.3% 78.0% 19.02% 3

Top 10 Holdings

  1. Simon Property Group Inc 7.21%
  2. Mitsui Fudosan Co Ltd 2.69%
  3. Essex Property Trust Inc 2.71%
  4. Prologis Inc 2.43%
  5. AvalonBay Communities Inc 2.93%
  6. Equity Residential 2.37%
  7. Boston Properties Inc 2.35%
  8. Klépierre 2.60%
  9. Welltower Inc 3.12%
  10. Deutsche Wohnen AG 2.92%

Asset Allocation

Weighting Category Low Category High POSIX % Rank Quintile
Stocks
98.23% 61.19% 99.91% 7.07% 2
Cash
1.51% -0.23% 19.04% 13.59% 3
Other
0.26% 0.00% 8.70% 23.37% 4
Convertible Bonds
0.00% 0.00% 0.64% 1.63% 2
Preferred Stocks
0.00% 0.00% 18.53% 1.63% 2
Bonds
0.00% 0.00% 16.62% 2.72% 2

Stock Sector Breakdown

Weighting Category Low Category High POSIX % Rank Quintile
Real Estate
94.42% 59.49% 99.52% 17.39% 3
Communication Services
2.04% 0.00% 4.11% 2.17% 1
Consumer Cyclical
1.17% 0.00% 16.02% 9.24% 2
Technology
0.60% 0.00% 1.85% 1.09% 1
Financial Services
0.00% 0.00% 7.11% 13.04% 4
Healthcare
0.00% 0.00% 2.81% 7.07% 3
Energy
0.00% 0.00% 0.01% 1.09% 2
Industrials
0.00% 0.00% 5.65% 5.98% 2
Consumer Defense
0.00% 0.00% 0.01% 1.09% 2
Utilities
0.00% 0.00% 1.32% 1.63% 2
Basic Materials
0.00% 0.00% 1.58% 4.89% 2

Stock Geographic Breakdown

Weighting Category Low Category High POSIX % Rank Quintile
US
54.79% 0.00% 96.95% 7.07% 2
Non US
43.44% 0.00% 99.45% 17.93% 3

POSIX - Expenses

Operational Fees

POSIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.90% 0.16% 5.63% 57.07% 1
Management Fee 0.86% 0.12% 1.20% 4.89% 3
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.01% 0.26% N/A N/A

Sales Fees

POSIX Fees (% of AUM) Category Low Category High POSIX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

POSIX Fees (% of AUM) Category Low Category High POSIX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

POSIX Fees (% of AUM) Category Low Category High POSIX Rank Quintile
Turnover 47.50% 1.00% 289.00% 13.59% 2

POSIX - Distributions

Dividend Yield Analysis

POSIX Category Low Category High POSIX % Rank Quintile
Dividend Yield 0.1% 0.01% 1.15% 77.06% 5

Dividend Distribution Analysis

POSIX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

POSIX Category Low Category High POSIX % Rank Quintile
Net Income Ratio 1.55% 0.14% 6.46% 38.59% 3

Capital Gain Distribution Analysis

POSIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

POSIX - Managers

Simon Hedger

Manager

Start Date

Oct 01, 2007

Tenure

8.84

Tenure Rank

5.2%

Simon Hedger - Managing Director-Portfolio Management Real Estate Securities As portfolio manager, Simon directs the global real estate investment trust activity for Principal Real Estate Investors, the dedicated real estate group of Principal Global Investors. He is head of a real estate investment team based in London and oversees the firm's European real estate capability in REITs and listed property securities. Simon has over 27 years of property experience, including extensive time spent in both the United Kingdom and Australia markets. This includes positions both as an analyst and as a portfolio manager. He joined Principal Global Investors in 2003. Previously, Simon worked for Domaine Property Funds, managing the assets of its property syndicates. Prior to this, he was a senior equities analyst at Prudential Bache/BNP Equities. His background also includes positions as fund manager for Paladin Commercial Trust and GEM Commercial Property Trust, as well as a variety of real estate related roles with Prudential Assurance Company in both Australia and the United Kingdom. Simon received an MBA from the University of New England and is an associate member of both the Royal Institute of Chartered Surveyors and of the Australian Property Institute. He is a U.K. qualified chartered surveyor (ARICS).


Anthony Kenkel

Manager

Start Date

Sep 16, 2010

Tenure

5.88

Tenure Rank

9.2%

Anthony Kenkel, CFA, FRM - Portfolio Manager Anthony is a portfolio manager for Principal Real Estate Investors, the dedicated real estate group of Principal Global Investors. He is responsible for the investment analysis of real estate investment trust companies and is a member of the real estate securities portfolio management team. Anthony joined Principal in 1997. In 2000, he became a real estate consultant for Arthur Andersen before joining GATX Corporation as a senior financial analyst in 2002. Anthony rejoined Principal in 2005 in his current position. He received a bachelor's degree in finance from Drake University and an MBA from the University of Chicago Graduate School of Business. Anthony has earned the right to use the Chartered Financial Analyst and Financial Risk Manager designations.


Kelly D. Rush

Manager

Start Date

Oct 01, 2007

Tenure

8.84

Tenure Rank

5.2%

Kelly D. Rush, CFA - Head of Real Estate Securities As head of real estate securities, Kelly directs the domestic and global real estate investment trust (REIT) activity for Principal Real Estate Investors, the dedicated real estate group of Principal Global Investors. He has experience in both separate account and pooled fund management, and has been managing real estate stock portfolios since 1997. Previously, Kelly was responsible for analyzing and recommending investments in bonds issued of public real estate companies and mortgage loans provided to them. He has been with the real estate investment area of the firm since 1987. Kelly received an MBA in business administration and a bachelor's degree in finance from the University of Iowa. He has earned the right to use the Chartered Financial Analyst designation. Kelly is a member of the Iowa Society of Financial Analysts and the CFA Institute.


Tenure Analysis

Category Low

0.0

Category High

27.5

Category Average

6.78

Category Mode

1.6