Principal Global Investors Fulfills $150 Million Qualified Foreign Institutional Investor Quota

Mon Feb 4, 2013 11:05am EST

* Reuters is not responsible for the content in this press release.

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130204:nBw046082a

DES MOINES, Iowa--(Business Wire)--
Principal Global Investors, LLC, a leading global asset manager and a member of
the Principal Financial Group® (NYSE:PFG), announces it has fulfilled its $150
million Qualified Foreign Institutional Investor (QFII) quota. The full amount
of the quota will be invested directly into the local China A-share markets on
behalf of one client of Principal Global Investors. 

Principal Global Investors was awarded the QFII designation in January 2012 and
was granted a $150 million quota in August 2012. Due to high client demand,
Principal Global Investors will apply for a second quota from China`s State
Administration of Foreign Exchange. 

Jim McCaughan, CEO of Principal Global Investors, said, "We are pleased to see
the full $150 million quota filled by one client. Access to the China A-share
markets remains in demand among sophisticated institutional investors. China`s
economy has slowed in recent years, but it has experienced nothing like the
`hard landing` many pundits predicted. As a result, the A-share markets
represent good value at a time when many international investors are getting
their first opportunity to participate. We hope to offer access to this market
to more of our clients by being granted an additional quota." 

Fulfilling the QFII quota builds on the long-term presence and success that The
Principal Financial Group® has had in the retirement and mutual fund business
within the region, an effort that dates back to 1994. Principal Global
Investors` China strategy is supported through its regional headquarters in
Singapore, a regional office in Hong Kong, the global headquarters in Des
Moines, Iowa, and coordinated through a representative office in Beijing. The
investment team responsible for the capability is located in Hong Kong,
Singapore and the United States. 

About Principal Global Investors
Principal Global Investors is a diversified asset management organization and a
member of the Principal Financial Group®, with expertise in equities, fixed
income and real estate investments, as well as specialized overlay and advisory
services. Principal Global Investors manages $281.5 billion in assets1 primarily
for retirement plans and other institutional clients2. 

About the Principal Financial Group
The Principal Financial Group® (The Principal®)3 is a global investment
management leader offering retirement services, insurance solutions and asset
management. The Principal offers businesses, individuals and institutional
clients a wide range of financial products and services, including retirement,
asset management and insurance through its diverse family of financial services
companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal
Financial Group has $403.0 billion in assets under management4 and serves some
18.3 million customers worldwide from offices in Asia, Australia, Europe, Latin
America and the United States. Principal Financial Group, Inc. is traded on the
New York Stock Exchange under the ticker symbol PFG. For more information, visit
www.principal.com. 

1 As of Dec. 31, 2012
2 Principal Global Investors is the asset management arm of the Principal
Financial Group® (The Principal®)3 and includes the asset management operations
of the following subsidiaries of The Principal: Principal Global Investors, LLC;
Principal Real Estate Investors, LLC; Principal Enterprise Capital, LLC;
Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Columbus Circle
Investors; Edge Asset Management, Inc.; Morley Financial Services Inc.;
Finisterre Capital, LLP; Origin Asset Management, LLP; Principal Global
Investors (Europe) Limited; Principal Global Investors (Singapore) Ltd.;
Principal Global Investors (Australia) Ltd.; Principal Global Investors (Japan)
Ltd.; Principal Global Investors (Hong Kong) Ltd.; CIMB-Principal Islamic Asset
Management Sdn. Bhd.; and the majority owned affiliates of Principal
International, Inc. Assets under management includes assets managed by
investment professionals of Principal Global Investors under dual employee
arrangements with other subsidiaries of The Principal and assets managed in
accordance with investment advice provided by Principal Global Investors through
the delivery of a model.
3 "The Principal Financial Group" and "The Principal" are registered service
marks of Principal Financial Services, Inc., a member of the Principal Financial
Group.
4 As of Dec. 31, 2012

Principal Financial Group
Adam Lackey, 515-362-0482
lackey.adam@principal.com

Copyright Business Wire 2013

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.