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Principal announces investment unit rebrand

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The firm’s investment unit will now be known as Principal Asset Management.

Principal Financial Group has announced that its investment unit will now begin doing business as Principal Asset Management.

The firm, which is intensifying its focus on asset management, said that the new name highlighted its deep, local knowledge and global perspectives across all asset classes.

“Asset management is a core growth driver for Principal, adding significant value to the company both financially and strategically in our goal to provide holistic financial solutions,” Principal chairman, president and CEO Dan Houston. 

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“As markets mature and fluctuate, and demand for global investment solutions increases, Principal Asset Management is well positioned to help our clients achieve their financial goals.”

Principal Asset Management said that it has been working towards unifying and strengthening its investment teams, processes, distribution model and products in order to execute on a forward-looking strategy that reinforces its specialised investment expertise.

Additionally, the asset manager said it is leveraging talent, technology and its global footprint to bring together its public and private market capabilities and best serve its client base.

“We’re building and strengthening relationships with investors in over 80 markets, aligning our growth strategy to their needs, and the evolving market opportunities to solidify a consistent global identity,” said Principal Asset Management COO, Kamal Bhatia.

“Principal remains focused on identifying compelling opportunities by providing clear perspectives that are harnessed by the power of our diverse, local investment talent. A global asset management platform that brings deep, specialist capabilities will continue to actively unlock insights and opportunities for all our clients.”

According to the firm, resources have been dedicated to building new products and alternative investment options such as model portfolios and direct lending, and strategic hires have been made to support growth initiatives like global wealth alternatives and liability driven investments.

As of June, Principal Asset Management had $507.1 billion in assets and a client base of more than 800 institutional, retirement, retail and high-net-worth investors.

Principal announces investment unit rebrand

The firm’s investment unit will now be known as Principal Asset Management.

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Jon Bragg

Jon Bragg

Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.

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