Business is booming at Principal Global Investors with three new platform listings for its funds in recent weeks.
The Principal Global Strategic Income Fund has been listed on Aviva’s platform Navigator and on Synergy, the in-house wrap for Genesys Wealth Advisers.
“The Navigator news is important because it is a very widely used IFA (independent financial adviser) platform,” Principal Global Investors platform and adviser sales director Giles Gunesekera said.
The Principal Property Securities Fund has been added to the Beacon platform.
PGI’s funds can now be accessed by 2000 advisers.
Principal is also celebrating its first fund-to-fund win. In total, $17.5 million has been allocated from the MFS Premium Income Fund to the Principal Global Strategic Income Fund.
The fund was also awarded a $400 million mandate from the Australian Reward Investment Alliance this month, doubling its size.
“Navigator and Macquarie Wrap are two of the most widely used non-aligned IFA platforms. The MFS win was our first fund to fund triumph; that component will grow over time,” Gunesekera said.
Its new product, the Principal Global Property Securities Fund, was recently given three stars – an investment grade rating – by Standard & Poor’s.
Sydney-based Principal Global Investors is a member of the Principal Financial Group, which also has operations in the United States, Latin America, Europe and Asia.
It manages more than US$213 billion largely for retirement plans and other institutional clients.
