Fact sheet: Principal GIF RealEstDt

Fund information
Fund name
Principal GIF Real Estate Debt I Inc USD
Fund manager company
Principal Global Investors (Ir
Fund type
Unit Trust
Fund managers
  • Marc Petersonsince 21/03/2016
  • Scott Carsonsince 21/03/2016
  • Jason Haighsince 21/03/2016
Fund objective
The Fund seeks to achieve the Investment Objective by investing the majority of its assets in a diversified portfolio of U.S. commercial mortgage-backed securities (CMBS). CMBS are structured debt securities, typically secured by diversified pools of mortgages on commercial real estate properties located across the U.S. While the Fund will primarily invest in CMBS, it may also invest in unsecured bonds issued by companies primarily engaged in a real estate or real estate related business. The CMBS and unsecured bonds may include Rule 144a securities. The Fund may use certain financial derivative instruments (FDI) for investment purposes.
Benchmark
  • Barclays CMBS Investment Grade
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
-
1 Year rank in sector
-
Sector
FO Fixed Int - USD Securitised
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.85%
Fund size
£9m (£9m last year)
Top in this sector
Fund name1 Year
Fidelity US Loan4.7%
GAM Star MBS Ttl Rtn4%
Manulife US Treas Infln Ptd Sec1.7%
BNP Paribas FlexIUSMrtg0.9%
Allianz ShDrGblREBd-
...more in FO Fixed Int - USD Securitised

Performance snapshot

Holdings snapshot

  • USA99%
    Money Market1.7%
  • Non-Rated83.3%
    B6.5%
    A-4.7%
    B-4.6%
  • US Corporate Fixed Interest84.6%
    US Fixed Interest14.4%
    Money Market1.7%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-2.2%-2.8%1.4%---
Sector-0.9%-0.6%0.9%1.8%5.9%13.1%
Rank within sector4 / 55 / 53 / 5---
Quartile4th4th3rd
Calendar performance
 YTD - 20162015201420132012
Fund-----
Sector3%-1.8%5.3%-2.5%8%
Rank within sector-----
Quartile
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
-
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
-
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
-
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
-
Price movement
52 week high10.49
52 week low9.96
Current bid price-
Current offer price-
Current mid price9.97
Region
1USA99.03%
2Money Market1.7%
Industry sector
1Non-Rated83.29%
2B6.48%
3A-4.69%
4B-4.57%
Asset type
1US Corporate Fixed Interest84.62%
2US Fixed Interest14.41%
3Money Market1.7%
Individual holdings
1GS MORTGAGE SECURITIES TRUST 2 VAR 10/06/20477.59%
2MSBAM_13-C13 C6.23%
3COMMERCIAL MORTGAGE 2012-CR2 VAR MTG BDS 15/08/22 USD1 D 144A6.17%
4MSC 2015-MS1 AS 20150701 204805154.82%
5CFCRE COMMERCIAL MORTGAGE TRUS VAR 15/12/20474.72%
6JPMBB COMMERCIAL MORTGAGE SECU VAR 15/04/20474.69%
7MORGAN STANLEY BAML TRUST 3.325% MTG BDS 15/03/26 USD1000 A44.67%
8CITIGROUP COMMERCIAL MORTGAGE 3.58% 10/04/20494.61%
9WACHOVIA BANK COMMERICAL MTG TST 5.413% MTG BDS 15/12/43 USD10004.61%
Management
Fund manager group
Principal Global Investors
Fund manager company
Principal Global Investors (Ir
Fund type
Unit Trust
Fund objective
The Fund seeks to achieve the Investment Objective by investing the majority of its assets in a diversified portfolio of U.S. commercial mortgage-backed securities (CMBS). CMBS are structured debt securities, typically secured by diversified pools of mortgages on commercial real estate properties located across the U.S. While the Fund will primarily invest in CMBS, it may also invest in unsecured bonds issued by companies primarily engaged in a real estate or real estate related business. The CMBS and unsecured bonds may include Rule 144a securities. The Fund may use certain financial derivative instruments (FDI) for investment purposes.
Benchmark
  • Barclays CMBS Investment Grade
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Marc Peterson21/03/2016Marc is a managing director, portfolio management, for Principal Global Investors. He is responsible for managing the commercial mortgage-backed securities (CMBS) within the multi-sector fixed income portfolios. Marc joined the firm in 1992. Previously, he was an accountant for The Principal Financial Group. He received an MBA from Drake University and a bachelor's degree in accounting from Luther College. Marc has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Society of Iowa. He is also a member of the Commercial Mortgage Securities Association.
Scott Carson21/03/2016Scott is director - portfolio manager at Principal Real Estate Investors, the dedicated real estate group of Principal Global Investors. He is responsible for the management of affiliated and non-affiliated CMBS portfolios. He previously performed pricing, hedging and valuation functions for Principal Real Estate Investors' CMBS issuance program as well as developing real estate strategies and products as part of the new business development team. Scott received a bachelor's degree in finance from Iowa State University. Additionally, he has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.
Jason Haigh21/03/2016Jason is a trader/portfolio manager at Principal Real Estate Investors, the dedicated real estate unit of Principal Global Investors. He is responsible for the day-to-day trading of CMBS for various portfolio strategies, assisting in the development and execution of CMBS portfolio strategies and tactical planning to achieve risk/return objectives for clients. Jason joined the firm in 1999. He received a bachelor's degree in finance & economics from University of Northern Iowa and is a member of CRE Finance Council.
Compliance
UCITS V Compliant
Domicile
No data available.
Fund for sale in
Belgium, Switzerland, Germany, Spain, Finland, France, United Kingdom, Guernsey, Ireland, Italy, Jersey, Netherlands, Offshore, Sweden
Principal GIF Real Estate Debt A Acc USD
Initial charge5%
Annual charge1.1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN8MQ
Principal GIF Real Estate Debt A Hedged Acc CHF
Initial charge5%
Annual charge1.1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN8NK
Principal GIF Real Estate Debt A Hedged Acc EUR
Initial charge5%
Annual charge1.1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN8NG
Principal GIF Real Estate Debt A Hedged Acc GBP
Initial charge5%
Annual charge1.1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN8NI
Principal GIF Real Estate Debt A Hedged Acc JPY
Initial charge5%
Annual charge1.1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyJPY
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN8NM
Principal GIF Real Estate Debt A Hedged Inc CHF
Initial charge5%
Annual charge1.1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeN8NL
Principal GIF Real Estate Debt A Hedged Inc EUR
Initial charge5%
Annual charge1.1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeN8NH
Principal GIF Real Estate Debt A Hedged Inc GBP
Initial charge5%
Annual charge1.1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeN8NJ
Principal GIF Real Estate Debt A Hedged Inc JPY
Initial charge5%
Annual charge1.1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyJPY
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeN8NN
Principal GIF Real Estate Debt A Inc USD
Initial charge5%
Annual charge1.1%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeN8MR
Principal GIF Real Estate Debt D Acc USD
Initial charge5%
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.68%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN8MS
Principal GIF Real Estate Debt D Inc USD
Initial charge5%
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.68%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeN8MT
Principal GIF Real Estate Debt D2 Inc USD
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNFBK
Principal GIF Real Estate Debt F Acc USD
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.18%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN8MU
Principal GIF Real Estate Debt F Inc USD
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.18%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeN8MV
Principal GIF Real Estate Debt I Acc USD
Initial charge-
Annual charge0.55%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)0.84%
Total expense ratio (TER)0.83%
Bid price-
Offer price-
Mid price10.31
CurrencyUSD
Price updated02/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN3PD
Principal GIF Real Estate Debt I Hedged Acc CHF
Initial charge-
Annual charge0.55%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN8NC
Principal GIF Real Estate Debt I Hedged Acc EUR
Initial charge-
Annual charge0.55%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN8MZ
Principal GIF Real Estate Debt I Hedged Acc GBP
Initial charge-
Annual charge0.55%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN8NA
Principal GIF Real Estate Debt I Hedged Acc JPY
Initial charge-
Annual charge0.55%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyJPY
Price updated01/01/1900
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN8NE
Principal GIF Real Estate Debt I Hedged Inc CHF
Initial charge-
Annual charge0.55%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeN8ND
Principal GIF Real Estate Debt I Hedged Inc EUR
Initial charge-
Annual charge0.55%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeN8MY
Principal GIF Real Estate Debt I Hedged Inc GBP
Initial charge-
Annual charge0.55%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeN8NB
Principal GIF Real Estate Debt I Hedged Inc JPY
Initial charge-
Annual charge0.55%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyJPY
Price updated01/01/1900
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeN8NF
Principal GIF Real Estate Debt I Inc USD
Initial charge-
Annual charge0.55%
Min single investment£2,000,000
Min regular saving£500,000
Available in ISANo
Ongoing charge (OCF)0.85%
Total expense ratio (TER)0.83%
Bid price-
Offer price-
Mid price9.97
CurrencyUSD
Price updated02/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeN3PE
Principal GIF Real Estate Debt N Acc USD
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNFBC
Principal GIF Real Estate Debt N Hedged Acc CHF
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNFBI
Principal GIF Real Estate Debt N Hedged Acc EUR
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNFBE
Principal GIF Real Estate Debt N Hedged Acc GBP
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNFBG
Principal GIF Real Estate Debt N Hedged Inc CHF
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyCHF
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNFBJ
Principal GIF Real Estate Debt N Hedged Inc EUR
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNFBF
Principal GIF Real Estate Debt N Hedged Inc GBP
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBP
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNFBH
Principal GIF Real Estate Debt N Inc USD
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNFBD
Principal GIF Real Estate Debt P Acc USD
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.23%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN8MW
Principal GIF Real Estate Debt P Inc USD
Initial charge-
Annual charge0.55%
Min single investment£10,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.23%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyUSD
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeN8MX
Data provided by

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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.