And, while it won’t impact your retirement plan, Principal Funds has also reduced the level at which investors can purchase Principal fixed-income funds without an up-front sales charge to $500,000 from $1,000,000. In addition, Principal Funds has shortened the Contingent Deferred Sales Charge (CDSC) holding period on those purchases to 12 months from 18 months.
Principal Funds offers several fixed-income funds including:
- Principal High Yield Fund (CPHYX)
- Principal Preferred Securities Fund (PPSAX)
- Principal Income Fund (CMPIX)
- Principal Mortgage Securities Fund (CMPGX)
- Principal Short-Term Income Fund (SRHQX)
For more information about the reduction in fixed-income sales charges, visit https://www.principalfunds.com/investor/performance/saleschrgdiscounts.htm .
This site also outlines recent changes in breakpoint levels.
“We understand the market’s current downward trend may be troubling to investors, especially those nearing retirement,” said Nora Everett, president of Principal Funds. “Fixed-income investing may be an attractive option in this environment, and we want to make it as easy and cost-effective as possible for sidelined investors to re-enter the market.”