The mandate will be invested in the $280 million Principal Global Strategic Income Fund. City Super chief executive Ian Prowse said he believed the Principal Global Strategic Income Fund would provide a positive exposure to higher yielding securities. "We are confident in the ability of Principal Global Investors to achieve its stated risk/return targets", Prowse said. Principal's diversified fixed income fund has also been added to the approved product list of four financial planning groups in the past month. City Super has 10,000 members and $1.2 billion in funds under management.
