Company Company Profile

Principal Global Investors

Head office:
Des Moines, IA
Assets Managed:
$402 Billon (2016-06-30)

"Principal uses multi-boutique approach that allows their teams to really focus on their area of expertise while leveraging the extensive research capabilities of PGI. They have a strong, stable and experienced Portfolio Management team that has a history of delivering excellent long term results."

- Daniel Solomon, Chief Investment Officer, NEI Investments

Company Profile

Principal Global Investors is the institutional asset management arm of the Principal Financial Group®. The multi-boutique firm currently manages $US402 billion of assets on behalf of a broad range of sophisticated investors. The network of specialized investment boutiques offers expertise in fixed income, equity, and real estate investments as well as currency management, asset allocation, stable value management, and other structured investment strategies.


Investment Approach

Global Equities — Principal Global Equities, a boutique investment firm within Principal Global Investors, seamlessly integrates original fundamental research with complementary and fundamentally-driven quantitative insights. Their capabilities provide a competitive advantage in identifying change in business conditions at the company level. Their analysts focus their original research work on identifying high-potential investment candidates experiencing positive fundamental change and their portfolio managers are focused on high-conviction stock selection and portfolio construction decisions.

Global Fixed Income — Principal Global Fixed Income, a specialized investment management group within Principal Global Investors. As global credit specialists, their focus is on providing total-return, yield-oriented, and customized investment strategies for clients worldwide. The investment teams each specialize in one specific sector, but share a common macroeconomic viewpoint that provides a consistent framework for all investment decisions. As a result, clients get access to investment choices that strictly bottom-up managers might miss.

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Funds Managed icon Funds Managed

Name Lead Managers Inception Date Category Morningstar Profile
NEI Global Equity Fund* Mustafa Sagun
Chris Ibach
1995-05-01
2002-04-30
Global Equity A F
NEI Global High Yield Bond Fund Mark Denkinger
Darrin Smith
Joshua Rank
2005-06-10 High Yield Fixed Income A F T

*Effective, August 30, 2016, the portfolio sub-advisor of the NEI Global Equity Fund has changed from Beutel, Goodman & Company Ltd. to Principal Global Investors, LLC.

Lead Manager icon Lead Managers - Global Equities

Lead Manager Picture

Mustafa Sagun

Portfolio Manager

Mustafa is chief investment officer for Principal Global Equities and has over 24 years of industry experience. He is responsible for overseeing portfolio management and research for all international, domestic, and global equities strategies. Prior to his current role, Mustafa was a VP and analyst for PNC Financial Services Group and an equity derivatives specialist for Salomon Brothers. Mustafa received a Ph.D. in finance and a MA in international economics from the University of South Florid. He has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Iowa.

Lead Manager Picture

Chris Ibach

Portfolio Manager

Chris is a portfolio manager for Principal Global Equities with over 21 years of industry experience. He leads the global large-cap team which encompasses global, international and U.S. strategies. He joined the firm in 2000 as an equities research analyst, specializing in the analysis of international technology companies and became portfolio manager in 2002. Previously, Chris gained six years of related industry experience with Motorola, Inc. He received an MBA in finance and a bachelor's degree in electrical engineering from the University of Iowa. Chris has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.

Lead Manager icon Lead Managers - Global Fixed Income

Lead Manager Picture

Mark Denkinger, CFA

Portfolio Manager

Mark is a portfolio manager at Principal Global Fixed Income, with responsibility for high yield credit and leveraged loans. Previously, Mark was the managing director of fixed income credit research and trading. Mark joined the firm in 1990 and assumed his current role in 2004, having previously served as a portfolio manager and senior research analyst specializing in corporate debt with an emphasis on high yield and distressed credits. He received his bachelor's degree in finance and an MBA with a finance emphasis from the University of Iowa. Mark has earned the right to use the Chartered Financial Analyst designation. He is a member of the CFA Institute and the CFA Society of Iowa.

Lead Manager Picture

Darrin Smith, CFA

Portfolio Manager

Darrin is a portfolio manager at Principal Global Fixed Income. He is a member of the high yield portfolio management team, with responsibility for high yield securities and leveraged loans. Darrin joined the firm in 2007 and has experience as a high yield portfolio manager since 1998. Previously, Darrin was a vice president and senior high yield portfolio manager at Aviva Capital Management. He received an MBA from Drake University and a bachelor's degree in economics from Iowa State University. Darrin has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Iowa. He is a Fellow of the Life Management Institute (FLMI) and a member of the Life Officers' Management Association (LOMA).

Lead Manager Picture

Joshua Rank, CFA

Portfolio Manager

Joshua is a high yield portfolio manager at Principal Global Investors. He is responsible for high yield and leveraged loan strategies. Joshua joined the firm in 2013. Prior to his current role, Joshua served as a vice president, senior high yield portfolio manager at Aviva Investors Americas. He received a bachelor's degree in finance from Iowa State University. Joshua holds the Chartered Financial Analyst designation.