The investment seeks to provide as high a level of current income that is exempt from federal and state personal income tax as is consistent with prudent investment management and preservation of capital. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in California municipal obligations at the time of each purchase. Generally, these municipal obligations pay interest that is exempt from State personal income tax and federal income tax. It may invest up to 20% of its assets in below investment grade bonds.
Morningstar Style Box™
as of 02/28/2014 What's this?
Overall Morningstar Star Rating™
as of 03/31/2014 What's this?
Out of 138 Muni California Long Funds
Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.
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Represents performance for Class A shares adjusted for the maximum sales charge and assumes the reinvestment of distributions.
Performance assumes reinvestment of all dividends and capital gains.Extended performance is calculated based on the historical performance of the investment option's oldest share class, adjusted for the fees and expenses of the share class shown. Periods of less than one year are not annualized.
Inv Manager or Sub-Advisor
Principal Global Investors
Douglas J. Gaylor Since 09/12/2011 M.B.A. , State University College at Buffalo
James Noble Since 03/01/2013 M.B.A. , Hofstra University
The full name of this investment option is Principal California Municipal Fund (A).
Investors should carefully consider a fund's investment objectives, risks, charges, and expenses prior to investing. A prospectus, or summary prospectus if available, containing this and other information can be obtained by contacting a financial professional, visiting principalfunds.com, or calling 800-222-5852. Read the prospectus carefully before investing.
Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc., member of the Principal Financial Group®. Principal Funds Distributor, Principal Shareholder Services, Principal Management Corporation and its affiliates, and Principal Funds, Inc. are collectively referred to as Principal Funds.
Not FDIC Insured May Lose Value - Not a Deposit - No Bank Guarantee Not Insured by any Federal Government Agency
Barclays California Municipal Index tracks the California part of the Barclays Municipal Bond Index. The Barclays Municipal Bond represents the long-term, investment-grade tax-exempt bond market.
Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. A portion of the Fund's income may be subject to state and/or local taxes, and it may be subject to federal alternative minimum tax (AMT) for certain investors.
Effective September 12, 2011, this portfolio is sub-advised by Principal Global Investors. Prior to September 12, 2011, the portfolio was sub-advised by Invesco.