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Tuesday, November 13, 2007

Principal Funds Expands International Roster

Reported by Erin Kello

Principal Funds is broadening its international lineup by adding one new fund and a new set of share classes to an existing one.

The new Principal Global REIT Fund will join the Principal Diversified International Fund and the Principal International Emerging Markets Fund in the company's international roster.

"(International REITS) make a good asset class even better," Michael Finnegan, chief investment officer at Principal told The MFWire on the sidelines of Sunstar's Lipper Leaders press briefing held Tuesday morning at the Reuters Building in Times Square.

In addition to the new fund, The Principal is also adding A and C share classes to its Principal International Growth Fund.

The Principal's fund group has $64.4 billion in AUM as of September 30.  

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