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Global Real Estate Securities Fund
mutual fund
PGRSX
Payout Change
Suspended
Price as of:
$9.4
+0.06
+0.64%
primary theme
International Real Estate
share class
PGRSX (Mutual Fund)
Global Real Estate Securities Fund
Payout Change
Suspended
Price as of:
$9.4
+0.06
+0.64%
primary theme
International Real Estate
share class
PGRSX (Mutual Fund)
Global Real Estate Securities Fund
Payout Change
Suspended
Price as of:
$9.4
+0.06
+0.64%
primary theme
International Real Estate
share class
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
1.2%
1 yr return
1.6%
3 Yr Avg Return
-5.4%
5 Yr Avg Return
-0.2%
Net Assets
$1.82 B
Holdings in Top 10
39.1%
52 WEEK LOW AND HIGH
$9.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.89%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 25.90%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
PGRSX - Profile
Distributions
- YTD Total Return 1.2%
- 3 Yr Annualized Total Return -5.4%
- 5 Yr Annualized Total Return -0.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.59%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameGlobal Real Estate Securities Fund
-
Fund Family NamePrincipal Funds
-
Inception DateNov 25, 2014
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerSimon Hedger
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of U.S. and non-U.S. companies principally engaged in the real estate industry at the time of purchase. For the Fund’s investment policies, a real estate company has at least 50% of its assets, income, or profits derived from products or services related to the real estate industry. Real estate companies include real estate investment trusts (“REITs”) and companies with substantial real estate holdings such as paper, lumber, hotel, and entertainment companies, as well as those whose products and services relate to the real estate industry, such as building supply manufacturers, mortgage lenders, and mortgage servicing companies. The Fund invests in equity securities regardless of market capitalization (small, medium or large). The Fund invests in value equity securities and growth equity securities.
The Fund invests a significant percentage of its portfolio in REITs and foreign REIT-like entities. REITs are pooled investment vehicles that invest in income producing real estate, real estate related loans, or other types of real estate interests. REITs in the U.S. are corporations or business trusts that are permitted to eliminate corporate-level federal income taxes by meeting certain requirements of the Internal Revenue Code. Some foreign countries have adopted REIT structures that are very similar to those in the U.S. Similarities include pass-through tax treatment and portfolio diversification. Other countries have REIT structures that are significantly different than the structure in the U.S., while some countries have not adopted a REIT-like structure at all.
Under normal market conditions, the Fund holds investments tied economically to at least 3 countries and invests a percentage of its net assets in securities of foreign issuers equal to at least the lesser of 40% or the percentage foreign issuers in FTSE EPRA/NAREIT Developed Index minus 10%.
The Fund concentrates its investments (invest more than 25% of its net assets) in securities in the real estate industry.
PGRSX - Performance
Return Ranking - Trailing
| Period | PGRSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.2% | -18.2% | 30.6% | 39.88% |
| 1 Yr | 1.6% | -16.9% | 30.5% | 39.31% |
| 3 Yr | -5.4%* | -20.5% | 2.0% | 55.69% |
| 5 Yr | -0.2%* | -11.4% | 13.7% | 64.42% |
| 10 Yr | 3.2%* | -3.9% | 10.2% | 46.28% |
* Annualized
Return Ranking - Calendar
| Period | PGRSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.0% | -16.8% | 16.7% | 56.73% |
| 2022 | -27.6% | -39.5% | 4.5% | 44.91% |
| 2021 | 20.5% | -0.9% | 30.7% | 48.47% |
| 2020 | -5.0% | -19.7% | 13.7% | 41.10% |
| 2019 | 17.2% | 1.0% | 26.5% | 38.27% |
Total Return Ranking - Trailing
| Period | PGRSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.2% | -18.2% | 30.6% | 39.88% |
| 1 Yr | 1.6% | -16.9% | 30.5% | 39.31% |
| 3 Yr | -5.4%* | -20.5% | 2.0% | 55.69% |
| 5 Yr | -0.2%* | -11.4% | 13.7% | 64.42% |
| 10 Yr | 3.2%* | -3.9% | 10.2% | 46.28% |
* Annualized
Total Return Ranking - Calendar
| Period | PGRSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.9% | -14.6% | 23.4% | 47.95% |
| 2022 | -26.7% | -39.5% | 10.1% | 70.06% |
| 2021 | 23.5% | 5.7% | 101.8% | 69.33% |
| 2020 | -3.9% | -17.8% | 14.7% | 43.56% |
| 2019 | 24.8% | 4.3% | 37.2% | 40.74% |
NAV & Total Return History
PGRSX - Holdings
Concentration Analysis
| PGRSX | Category Low | Category High | PGRSX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.82 B | 4.27 M | 7.6 B | 12.35% |
| Number of Holdings | 74 | 5 | 691 | 47.40% |
| Net Assets in Top 10 | 717 M | 2.13 M | 4.45 B | 16.76% |
| Weighting of Top 10 | 39.06% | 20.1% | 63.7% | 49.42% |
Top 10 Holdings
- Equinix Inc 6.15%
- Welltower Inc 5.92%
- Ventas Inc 4.39%
- Prologis Inc 4.34%
- Extra Space Storage Inc 3.76%
- AvalonBay Communities Inc 3.70%
- Goodman Group 3.33%
- VICI Properties Inc 2.75%
- Invitation Homes Inc 2.46%
- Vonovia SE 2.27%
Asset Allocation
| Weighting | Return Low | Return High | PGRSX % Rank | |
|---|---|---|---|---|
| Stocks | 98.50% | 3.62% | 126.54% | 61.27% |
| Cash | 1.50% | 0.00% | 11.23% | 46.24% |
| Preferred Stocks | 0.00% | 0.00% | 7.25% | 45.66% |
| Other | 0.00% | -33.49% | 101.32% | 56.65% |
| Convertible Bonds | 0.00% | 0.00% | 0.07% | 39.31% |
| Bonds | 0.00% | 0.00% | 22.09% | 43.93% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PGRSX % Rank | |
|---|---|---|---|---|
| Real Estate | 96.92% | 72.53% | 100.00% | 55.62% |
| Consumer Cyclical | 2.04% | 0.00% | 13.03% | 12.43% |
| Technology | 0.54% | 0.00% | 4.92% | 33.73% |
| Communication Services | 0.50% | 0.00% | 10.08% | 49.70% |
| Utilities | 0.00% | 0.00% | 0.96% | 42.01% |
| Industrials | 0.00% | 0.00% | 4.91% | 52.07% |
| Healthcare | 0.00% | 0.00% | 1.54% | 46.75% |
| Financial Services | 0.00% | 0.00% | 9.53% | 49.70% |
| Energy | 0.00% | 0.00% | 0.11% | 39.05% |
| Consumer Defense | 0.00% | 0.00% | 0.18% | 40.83% |
| Basic Materials | 0.00% | 0.00% | 1.63% | 43.20% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PGRSX % Rank | |
|---|---|---|---|---|
| US | 62.95% | 0.00% | 102.00% | 61.27% |
| Non US | 35.55% | 0.00% | 99.07% | 39.31% |
PGRSX - Expenses
Operational Fees
| PGRSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.89% | 0.10% | 36.96% | 82.66% |
| Management Fee | 0.87% | 0.09% | 1.50% | 69.77% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.25% | N/A |
Sales Fees
| PGRSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| PGRSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| PGRSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 25.90% | 1.00% | 165.00% | 19.05% |
PGRSX - Distributions
Dividend Yield Analysis
| PGRSX | Category Low | Category High | PGRSX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 5.52% | 27.17% |
Dividend Distribution Analysis
| PGRSX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| PGRSX | Category Low | Category High | PGRSX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.59% | -0.23% | 3.84% | 40.00% |
Capital Gain Distribution Analysis
| PGRSX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 27, 2023 | $0.249 | OrdinaryDividend |
| Dec 28, 2022 | $0.102 | OrdinaryDividend |
| Dec 29, 2021 | $0.254 | OrdinaryDividend |
| Dec 20, 2021 | $0.025 | CapitalGainShortTerm |
| Dec 20, 2021 | $0.016 | CapitalGainLongTerm |
| Dec 29, 2020 | $0.080 | OrdinaryDividend |
| Sep 18, 2020 | $0.020 | OrdinaryDividend |
| Jun 17, 2020 | $0.015 | OrdinaryDividend |
| Dec 27, 2019 | $0.120 | OrdinaryDividend |
| Dec 19, 2019 | $0.313 | CapitalGainLongTerm |
| Sep 18, 2019 | $0.129 | OrdinaryDividend |
| Jun 19, 2019 | $0.059 | OrdinaryDividend |
| Mar 19, 2019 | $0.042 | OrdinaryDividend |
| Dec 27, 2018 | $0.169 | OrdinaryDividend |
| Dec 19, 2018 | $0.064 | CapitalGainLongTerm |
| Sep 18, 2018 | $0.042 | OrdinaryDividend |
| Jun 19, 2018 | $0.042 | OrdinaryDividend |
| Mar 19, 2018 | $0.027 | OrdinaryDividend |
| Dec 27, 2017 | $0.190 | OrdinaryDividend |
| Dec 20, 2017 | $0.151 | CapitalGainLongTerm |
| Sep 18, 2017 | $0.020 | OrdinaryDividend |
| Jun 20, 2017 | $0.022 | OrdinaryDividend |
| Mar 21, 2017 | $0.018 | OrdinaryDividend |
| Dec 28, 2016 | $0.201 | OrdinaryDividend |
| Dec 20, 2016 | $0.025 | CapitalGainLongTerm |
| Sep 30, 2016 | $0.032 | OrdinaryDividend |
| Jun 30, 2016 | $0.032 | OrdinaryDividend |
| Mar 31, 2016 | $0.028 | OrdinaryDividend |
| Dec 28, 2015 | $0.137 | OrdinaryDividend |
| Dec 17, 2015 | $0.160 | CapitalGainLongTerm |
| Sep 30, 2015 | $0.012 | OrdinaryDividend |
| Jun 30, 2015 | $0.019 | OrdinaryDividend |
| Mar 31, 2015 | $0.068 | OrdinaryDividend |
| Dec 29, 2014 | $0.158 | OrdinaryDividend |
| Dec 17, 2014 | $0.011 | CapitalGainShortTerm |
| Dec 17, 2014 | $0.044 | CapitalGainLongTerm |
PGRSX - Fund Manager Analysis
Managers
Simon Hedger
Start Date
Tenure
Tenure Rank
Oct 01, 2007
14.67
14.7%
Simon is a managing director of real estate securities portfolio management for Principal Real Estate Investors, the dedicated real estate unit of Principal Global Investors. Based in London, he is responsible for the firm's European, Middle East, and Africa real estate capability in REITs and listed real estate securities. Simon has over 34 years of real estate experience, including extensive time spent in both the United Kingdom and Australia markets. This includes positions both as an analyst and as a portfolio manager. He joined Principal Global Investors in 2003. Previously, Simon worked for Domaine real estate funds, managing the assets of its real estate syndicates. Prior to this, he was a senior equities analyst at Prudential Bache/BNP Equities. His background also includes positions as fund manager for Paladin Commercial Trust and GEM Commercial Property Trust, as well as a variety of real estate related roles with Prudential Assurance Company in both Australia and the United Kingdom. Simon received an MBA from the University of New England and is an associate member of the Royal Institute of Chartered Surveyors, the Australian Property Institute and the FTSE EPRA NAREIT European Regional Index Committee.
Kelly Rush
Start Date
Tenure
Tenure Rank
Oct 01, 2007
14.67
14.7%
As head of global property securities, Kelly directs the domestic and global real estate investment trust (REIT) activity for Principal Real Estate Investors, the dedicated real estate group of Principal Global Investors. He has experience in both separate account and pooled fund management, and has been managing real estate stock portfolios since 1997. Previously, Kelly participated in structuring commercial mortgage loans for public real estate companies and the analysis of real estate investment trust issued bonds. He has been with the real estate investment area of the firm since 1987. Kelly received an 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. Kelly is a member of the Iowa Society of Financial Analysts and the CFA Institute. Kelly is an active supporter of the Toigo Foundation and is currently serving as a mentor to a 2007 Toigo Fellow. Kelly’s prior speaking engagements include the Institutional Investor Endowments & Foundations Roundtable, the NAREIT Institutional Investor Forum, the National Conference of Public Employee Retirement Systems (NCPERS), and the International Council of Shopping Centers (ICSC) Law Conference.
Anthony Kenkel
Start Date
Tenure
Tenure Rank
Sep 16, 2010
11.71
11.7%
Anthony is a managing director of real estate securities portfolio management for Principal Real Estate Investors, the dedicated real estate unit of Principal Global Investors. Currently based in Singapore, he is responsible for the firm’s Asia Pacific real estate capability in REITs and listed real estate securities, and has prior experience managing the firm’s Americas real estate capabilities. He also remains active in managing U.S. securities as one of the teams listed U.S. portfolio managers. Anthony joined Principal in 1997. In 2000, he became a real estate consultant for Arthur Andersen before joining GATX Corporation as a senior financial analyst in 2002. Anthony rejoined Principal in 2005 in his current position. He received a bachelor's degree in finance from Drake University and an MBA from the University of Chicago Graduate School of Business. Anthony has earned the right to use the Chartered Financial Analyst and Financial Risk Manager designations.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 20.42 | 7.13 | 10.42 |
