PFUMX: Principal Finisterre Uncons EM Bd Instl

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PFUMX Principal Finisterre Uncons EM Bd Instl


Profile

PFUMX - Profile

Vitals

  • YTD Return -4.2%
  • 3 Yr Annualized Return -1.0%
  • 5 Yr Annualized Return N/A
  • Net Assets $196 M
  • Holdings in Top 10 N/A

52 WEEK LOW AND HIGH

$10.00
$9.15
$10.65

Expenses

OPERATING RELATED FEES

  • Expense Ratio N/A

SALES FEES

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

BROKERAGE FEES

  • Turnover 312.50%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Emerging Markets Bond

Distributions

  • YTD Total Return -4.2%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.21%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Principal Finisterre Unconstrained Emerging Markets Bond Fund
  • Fund Family Name
    Principal Funds
  • Inception Date
    Jul 11, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Arthur Duchon-Doris

Fund Description

The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds and other fixed-income securities that are tied economically to an emerging market country, and in derivatives on such investments. It uses derivatives to enhance return and to hedge and manage investment risks. The fund is non-diversified.


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Categories

Performance

PFUMX - Performance

Return Ranking - Trailing

Period PFUMX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.2% -37.1% 7.0% 40.88%
1 Yr -0.1% -40.0% 15.4% 30.53%
3 Yr -1.0%* -26.1% 2.7% 29.36%
5 Yr N/A* -18.6% 18.2% N/A
10 Yr N/A* -12.8% 10.9% N/A

* Annualized

Return Ranking - Calendar

Period PFUMX Return Category Return Low Category Return High Rank in Category (%)
2019 8.6% -21.7% 32.8% 30.94%
2018 -5.2% -35.5% 3.9% 24.65%
2017 2.9% -15.9% 20.0% 74.96%
2016 N/A -13.3% 210.7% N/A
2015 N/A -29.9% 5.0% N/A

Total Return Ranking - Trailing

Period PFUMX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.2% -37.1% 7.0% 40.88%
1 Yr -0.1% -40.0% 15.4% 30.53%
3 Yr -1.0%* -26.1% 4.1% 39.60%
5 Yr N/A* -18.6% 26.3% N/A
10 Yr N/A* -12.8% 13.4% N/A

* Annualized

Total Return Ranking - Calendar

Period PFUMX Return Category Return Low Category Return High Rank in Category (%)
2019 8.6% -21.7% 32.8% 31.94%
2018 -5.2% -35.5% 3.9% 34.57%
2017 2.9% -15.9% 21.6% 84.11%
2016 N/A -13.3% 233.7% N/A
2015 N/A -29.9% 6.6% N/A

NAV & Total Return History


Holdings

PFUMX - Holdings

Concentration Analysis

PFUMX Category Low Category High PFUMX % Rank
Net Assets 196 M 902 K 13.6 B 51.68%
Number of Holdings 130 4 3983 72.75%
Net Assets in Top 10 179 M -1.05 B 61.1 B 25.00%
Weighting of Top 10 N/A 5.6% 288.6% 2.04%

Top 10 Holdings

  1. 5 Year Treasury Note Future June 20 33.92%
  2. RECV LCH INTEREST RATE SW_Receive 30.65%
  3. Euro Bobl Future June 20 28.87%
  4. US Treasury Bond Future June 20 15.05%
  5. United States Treasury Notes 1.12% 10.79%
  6. 2 Year Treasury Note Future June 20 10.69%
  7. Euro Buxl Future June 20 7.64%
  8. PAYB LCH INTEREST RATE SW_Pay 7.10%
  9. 1MDB Global Investments Ltd. 4.4% 3.09%
  10. CREDIT DEFAULT SWAP 3.07%

Asset Allocation

Weighting Return Low Return High PFUMX % Rank
Bonds
172.24% 80.03% 7956.53% 5.47%
Convertible Bonds
0.37% 0.00% 19.52% 52.53%
Stocks
0.00% -100.67% 110.51% 45.02%
Preferred Stocks
0.00% 0.00% 11.06% 23.46%
Other
0.00% -17.44% 51.06% 32.72%
Cash
-72.61% -7876.18% 78.90% 91.15%

Bond Sector Breakdown

Weighting Return Low Return High PFUMX % Rank
Government
57.28% -0.16% 263.38% 39.61%
Derivative
28.34% -0.31% 70.24% 12.92%
Corporate
8.48% 0.00% 94.19% 69.10%
Cash & Equivalents
5.90% -221.24% 43.57% 57.58%
Securitized
0.00% 0.00% 90.58% 49.72%
Municipal
0.00% 0.00% 41.00% 24.58%

Bond Geographic Breakdown

Weighting Return Low Return High PFUMX % Rank
Non US
99.38% -0.30% 329.40% 10.25%
US
72.86% -38.08% 7927.09% 13.20%

Expenses

PFUMX - Expenses

Operational Fees

PFUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio N/A 0.01% 38.91% 89.36%
Management Fee 0.75% 0.00% 2.50% 68.77%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

PFUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PFUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

PFUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 312.50% 0.00% 451.00% 94.13%

Distributions

PFUMX - Distributions

Dividend Yield Analysis

PFUMX Category Low Category High PFUMX % Rank
Dividend Yield 0.00% 0.00% 4.71% 17.18%

Dividend Distribution Analysis

PFUMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

PFUMX Category Low Category High PFUMX % Rank
Net Income Ratio 4.21% -2.28% 11.37% 38.67%

Capital Gain Distribution Analysis

PFUMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

Dividend Payout History

View More +

Fund Manager Analysis

PFUMX - Fund Manager Analysis

Managers

Arthur Duchon-Doris


Start Date

Tenure

Tenure Rank

Jul 11, 2016

3.81

3.8%

Arthur Duchon-Doris has been with Finisterre since 2015. Previously, he was employed by AXA Investment Managers (2015), Credit Agricole CIB (2014 - 2015), Societe General CIB (2012 - 2013), and Epervier Corporate Finance (2011). Mr. Duchon-Doris earned his M.S.C. in Financial Markets with a concentration in Asset Management from the EDHEC Business School.

Damien Buchet


Start Date

Tenure

Tenure Rank

Jul 11, 2016

3.81

3.8%

Damien joined Finisterre in September 2015 as a Portfolio Manager and Chief Investment Officer for the Total Return Fund Strategy. Prior to joining Finisterre, he was the Global Head of for Emerging Markets Fixed Income at AXA Investment Managers from 2010 to 2015, overseeing $7bn in EM FI assets and leading the EM team located in Paris, London and Hong Kong. From 2007 to 2010, Damien was Head of Sovereign & Emerging Markets Proprietary Trading at Dexia Credit Local in Paris, where he was responsible for two €3bn relative value trading books, in EM hard and local currency assets. Damien was Portfolio Manager and Head of Emerging Markets at CCR Gestion, Commerzbank Group in Paris from 2005 to 2007. From 1996 to 2005, Damien was a Senior Fund Manager, Deputy Head of Alternative EM Funds at Barep Asset Management in Paris, the alternative asset manager of Societe Generale. He started his career in Hong Kong as an Asian Equity Fund Manager at Euro Pacific Advisers Ltd from 1993 to 1996, and a Financial Analyst, China Desk at Societe Generale Hong Kong Branch from 1992 to 1993. Damien graduated from EDHEC School of Business Administration in Lille, France (1991) and is also a CFA charterholder.

Christopher Watson


Start Date

Tenure

Tenure Rank

Jul 11, 2016

3.81

3.8%

Christopher joined Finisterre in 2007 as Head of Research and became a Portfolio Manager in 2013. Prior to joining Finisterre, Christopher was an investment analyst in the Global Special Situations Group at Citigroup.  Before Citigroup, Christopher was an Assistant Vice President at GE Capital from 2001 – 2004.  He started his career at the Royal Bank of Canada in 1999 where he worked as a financial institutions banker.  Christopher has an MBA from IMD Lausanne and a BA Hons from McGill University, Montreal.  He has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 28.11 5.85 10.67