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Principal Real Estate Securities R3 (PRERX)

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24.96+0.14 (+0.56%)
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Principal Real Estate Securities R3

Des Moines, IA 50392

711 High Street

Principal Financial Group

(800) 986-3343
Management information
Kelly D. Rush,Lead manager since 5 December 2000
Kelly D. Rush, CFA - CEO, Public Real Assets & CIO, Real Estate Securities  As CEO Of Public Real Assets, Kelly provides executive level leadership of Principal Asset Management’s listed real assets strategies including both real estate securities and listed infrastructure. As CIO of Real Estate Securities, he is further responsible for directing the daily activities of the listed real estate securities unit. Kelly founded Principal’s listed U.S. equity real estate securities business in 1998. Under his leadership, the business expanded into managing global strategies in 2007 and the firm is widely recognized as an industry leader in managing listed real estate equity securities. In 2019, Kelly played a leading role in the firm’s launch of a listed infrastructure strategy by successfully advocating for the development of the strategy and the hiring of the lead portfolio manager. Kelly joined the firm in 1987 as a member of Principal Financial Group’s real estate investment division. As a private market investment professional, he was responsible for generating commercial mortgage loan investments. In the mid-1990s his focus shifted to structuring commercial mortgage loans for public real estate companies and analyzing bonds issued by the same. Kelly received his MBA in business administration and a bachelor’s degree in finance from the University of Iowa. He has earned the right to use the Chartered Financial Analyst designation and is a member of both the Iowa Society of Financial Analysts and the CFA Institute.
Morningstar style box
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Morningstar category
While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. Where necessary, we may change a category assignment based on recent changes to the portfolio.

Fund overview

CategoryReal Estate
Fund familyPrincipal Funds
Net assets5.49B
YTD return-9.33%
Yield2.57%
Morningstar rating★★★★
Inception date5 Dec 2000

Fund operations

Last dividend0.12
Last cap gain1.00
Holdings turnover16.10%
Average for categoryN/A

Fees and expenses

ExpensePRERXCategory average
Annual report expense ratio (net)1.37%1.08%
Prospectus net expense ratio1.37%N/A
Prospectus gross expense ratio1.37%N/A
Max 12b1 feeN/AN/A
Max front end sales loadN/A5.10%
Max deferred sales loadN/A1.13%
3-yr expense projection0N/A
5-yr expense projection0N/A
10-yr expense projection0N/A