Compliance
Principal Asset Management Berhad ('Principal') has a compliance unit which is responsible to ensure that all business conducts and practices of the Company complies with securities laws, regulations and relevant guidelines which are gazetted and issued by the regulators.
The compliance unit reports directly to the board of directors and works closely with the senior management personnel on all compliance matters. The Unit also liaises with other departments within the Company to discharge the duties and functions effectively.
Other responsibilities include: Establishing, maintaining and administering the implementation of policies and procedures to detect and prevent breaches of securities laws, regulations and relevant guidelines; Preparing and tabling compliance reviews to the board of directors; Maintaining and reviewing compliance procedures for each area of the Company’s operation; Examining and investigating any irregularity in the Company’s operations; Assisting in training and educating staff members on compliance matters, industry and regulatory developments.
Principal has developed a set of "Rules of Business Conduct" which applies to all employees that set forth Principal's commitment to conduct its business lawfully with high credibility and integrity. The culture dictates that compliance is each employee's responsibility. Principal also has a Business Continuity Plan (BCP) in place that details the Company’s back-up plans for all key systems and proceeding of operations in the event of disaster.
Risk Management
Principal's risk management comprises dedicated risk management and compliance teams, and members of the investment committee.
The team works in tandem with the investment team to ensure the level of risk meets the expectations of clients' overall performance targets that are set against the appropriate benchmark. Portfolios are constructed and managed within pre-determined guidelines such as risk budgets that will be monitored regularly.
Investment Committee
Principal has appointed the investment committee for the Funds, pursuant to the requirements under the Securities Commission Malaysia (SC) guidelines. The investment committee currently consists of four (4) members including three (3) independent members.
| Yoon Mun Thim | Chairman | Independent member |
| Nor' Azamin Salleh | Independent member |
| Wong Joon Hian | Independent member |
| Munirah Khairuddin | Non-Independent member |
Generally, the investment committee meets once a month and is responsible for ensuring that the investment management of the Funds is consistent with the objectives of the Funds, the Deeds, the SC guidelines and relevant securities laws, any internal investment restrictions and policies of the Manager, as well as acceptable and efficacious investment management practices within the unit trust industry.
In this role, the powers and duties of the investment committee include formulating and monitoring the implementation by the Manager of appropriate investment management strategies for the Funds and the measurement and evaluation of the performance of the Manager.
Investment Committee Members
Munirah Khairuddin
Non-Independent member
Experience:
Munirah joined Principal in November 2006 and was appointed as CEO and Executive Director of Malaysia in May 2013. She has been instrumental in leading the company to grow its Assets Under Management (AUM), deepening its retail leadership with new focus in private retirement space and innovative digital solutions to benefit all Malaysians irrespective of their financial background, and maintaining consistent risk management and investment performance. Under her leadership, Principal Malaysia has embarked on a significant journey in fulfilling its commitment towards the United Nation Sustainable Development Goals (UNSDG).
Munirah’s responsibilities for Principal have continued to expand. In March 2023, Munirah was appointed as the Head of Global Islamic business for Principal, and subsequently in 2024 was named Managing Director of Strategic Distribution & Institutional Clients Relations (Southeast Asia & Global Shariah) overseeing key strategic institutional client and distribution relationships.
In 2025, Munirah’s role continued to expand where on April 1, she was named Chief Executive Officer and Head of Principal Asset Management Berhad (Group of Companies). In this new role, Munirah is responsible for Principal Singapore, Indonesia, Malaysia, and Thailand businesses.
In addition, Munirah also serves as Chair of the Boards for Principal Thailand and Principal Indonesia.
Prior to Principal, Munirah worked as a G7 Economist and strategist for a Fortune 500 multinational oil and gas company. Prior to that, she was a fixed income portfolio manager for emerging markets at Rothschild Asset Management in London.
Munirah was recognized as Asset Management CEO of the Year Malaysia 2024 by Global Banking & Finance Awards. Munirah was also recognized as CEO of the Year, Malaysia in Asia Asset Management’s 2015 and 2014 Best of the Best Awards. Munirah was also selected as one of the recipients for the "Top 25 Women of Asset Management" award by Asian Investor in 2014.
Qualification:
Munirah is a Chartered Financial Analyst charter holder and holds the Capital Markets Services Representative’s License for fund management. She graduated with a Bachelor of Arts (Honours) in Accounting & Financial Analysis, University of Newcastle, United Kingdom.
* Independent Member.
Financial Information
| In RM | 2020 | 2021 | 2022 | 2023 | 2024 |
| Paid-up Share Capital | 438,000,000 | 438,000,000 | 438,000,000 | 438,000,000 | 438,000,000 |
| Shareholders’ funds | 651,312,375 | 661,757,701 | 645,470,221 | 601,453,922 | 613,015,020 |
| Revenue | 560,094,465 | 712,807,330 | 505,939,786 | 499,052,242 | 606,962,249 |
| Profit before tax | 162,410,124 | 157,929,043 | 138,912,806 | 125,012,158 | 112,961,316 |
| Profit after tax | 152,682,892 | 145,445,326 | 124,712,520 | 117,983,701 | 96,661,098 |
Total Number of Fund and Total Value of Funds Under Management
As of 28 February 2026.
Total Value of Asset Under Management (Unit Trust + Mandate + PRS) - RM 92.532 billion
Total Number of Fund
67 Conventional Unit Trust funds (including 1 Exchange-Traded Funds)
27 Islamic Unit Trust
20 PRS Funds
Shariah Adviser
Amanie Advisors Sdn Bhd (''Amanie'')
Amanie is a Shariah advisory, consultancy, training and research and development boutique for institutional and corporate clientele focusing on Islamic financial services. It is a registered Shariah advisory company for Islamic unit trust with the Securities Commission Malaysia (SC). Amanie was established with the aim of addressing the global needs for experts' and Shariah scholars' pro-active input. This will ultimately allow the players in the industry to manage and achieve their business and financial goals in accordance with the Shariah Principles.
The roles of Shariah Adviser are:
1. Ensure that the Fund is managed and administered in accordance with Shariah Principles.
2. Provide expertise and guidance in all matters relating to Shariah Principles, including on the Fund's deed and prospectus, its structure and investment process, and other operational and administrative matters.
3. Consult with SC where there is any ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process.
4. Act with due care, skill and diligence in carrying out its duties and responsibilities.
5. Responsible for scrutinising the Fund's compliance report as provided by the compliance officer and investment transaction reports provided by, or duly approved by, the Trustee to ensure that the Fund's investments are in line with Shariah Principles.
6. Prepare a report to be included in the Fund's interim and annual reports certifying whether the Fund have been managed and administered in accordance with Shariah Principles for the period concerned.
With more than fourteen (14) years of experience in the advisory role of unit trusts, Amanie has to date managed more than 170 funds locally and globally.
Mohd Suhaimi Abdul Hamid
Chairman of Amanie Advisors Sdn Bhd
Suhaimi was the Chief Executive Officer (CEO) for 5 years at Standard Chartered Saadiq Malaysia Berhad (SCSB) from March 2019 till 14 March 2024. SCSB is a full-fledged Islamic subsidiary of Standard Chartered Bank Malaysia Berhad (SCBMB) that has the largest business network covering Asia, Africa, Middle East and Europe. SCSB is the 3rd largest revenue contribution among 25 markets globally.
Suhaimi was born in Johor and received primary education at Johor Bahru before joining Sek. Men. Agama Segamat (SMKA) and Kolej Islam Sultan Alam Shah (KISAS). He graduated from International Islamic University Malaysia (IIUM), Bachelor of Economics (Hons) in 1999 major in Economics and minor in Islamic Finance. He has also completed the Certificate of Islamic Banking issued by the International Centre for Education in Islamic Finance (INCEIF). In addition, Suhaimi’s professional qualifications in Sustainable Leadership Program Organised by IBFIM and Cambridge University and Global Leaders programme at Chase School. London. He is also an Associate Member of Chartered Institute of Islamic Finance Professionals (CIIF). In addition to that, Suhaimi has completed the Financial Institutions Directors’ Education Programme (FIDE) training in Malaysia.
He has a total of 25 years’ experience in Corporate Banking, Investment Banking, Islamic Banking and has since garnered domestic and regional exposure throughout his career life in local and multinational financial institutions Corporate Banking and Investment Banking. Suhaimi started his career with MBF Finance Berhad, AmIslamic Berhad in 1999 and has since worked in several banks, which include Alliance Islamic Bank, OCBC Bank (M) Berhad and Maybank Islamic (M) Berhad for approximately 10 years, holding various positions before joining Standard Chartered Bank Group for 15 years from March 2009 till March 2024.
Prior to be the CEO of Malaysia entity, Suhaimi was managing Corporate Banking, Investment Banking, Islamic business in Singapore, Indonesia and Kenya before he returns to Malaysia in year 2015. In Malaysia, Suhaimi was then appointed as the Head, Islamic for Commercial Banking SCBMB and also responsible to execute refresh strategies for Islamic retail business of which he has successfully growing Bumi business, with focus to reshape the balance sheet for SCSB and he was instrumental in strengthening the collaboration with internal stakeholders within SCB and 3rd party providers to grow Islamic fees based revenue before assuming role as the Chief Operating Officer of SCSB in 2018.
During his time as CEO for 5 years at Standard Chartered Saadiq Malaysia, Suhaimi played an instrumental role in strengthening Standard Chartered Saadiq’s presence in Malaysia by offering “Halal360” unique solution to Islamic Financial Institutions, large Corporates, SMEs and Individual. Besides growing balance sheet and revenue, Suhaimi has successfully embark digital banking business in Malaysia and received multiple awards as the best Islamic Digital bank by Global Finance and CX Digital consecutively for 5 years. He has also been a strong advocate of the Bank’s diversity and inclusion agenda through his key contributions to WOWnita a business financing facility for women entrepreneurs. Additionally, as Country Champion for Standard Chartered Futuremakers, Suhaimi has demonstrated unwavering dedication towards initiatives that support financial literacy, female entrepreneurship, and youth employability that have given an impact to 10,000 youth. Suhaimi has collaborated with Yayasan Zarith Sofia to launch “celik Kewangan” to educate youth and benefit to 2000 students in Johor.
After his retirement in commercial banking in April 2024, Suhaimi ventured in fintech namely Berrypay as investor and management. With his expertise in global banking business, he focus to expand this fintech franchise across Middle East and Africa markets.
Suhaida Mahpot, CSAA
Chief Executive Officer, Amanie Advisors Sdn Bhd
Suhaida Mahpot is the Chief Executive Officer for Amanie Advisors in Kuala Lumpur office. She holds a Bachelor of Economics (Islamic Economic & Finance) from International Islamic University Malaysia and a professional certificate of Certified Shariah Advisor and Auditor (CSAA) of AAOIFI.
She joined Amanie in 2008 and was amongst the pioneers in the company. She is a specialist in sukuk advisory and has been advising numerous sukuk locally and internationally. One of the sukuk advised by her together with Tan Sri Dr Mohd Daud Bakar has been awarded as Best Securitisation Sukuk at The Asset Triple A Islamic Finance Award (2020). Apart from sukuk advisory, her primarily focus is on Shariah governance, structuring, enhancement and conversion exercises, establishment of Islamic financial entities as well as development of Islamic products. Her career in banking & financial industry started as a trainee under Capital Market Graduated Trainee Scheme organized by the SC.
Prior to joining Amanie, she worked with Affin Investment Bank Bhd since 2006 as an executive for debt & capital markets department. She completed various project financing deals using private debt securities instruments ranging from infrastructure & utilities, real estate, plantation and many others.
Designated person for Shariah Matters;
Ahmad Anas Fadzil,CSAA, CIPA
Senior Consultant, Amanie Advisors Sdn Bhd
Ahmad Anas is the Senior Consultant for Amanie Advisors, based at the Head Office in Kuala Lumpur. As part of Amanie Advisors’ global team, his primary focus is on advising and delivering projects for various Islamic financial services across the globe on their strategic issues and on Shariah compliant products and instruments.
Prior to joining Amanie Advisors, he was attached with Sigur Ros for Turkey’s Project of Century: Turkish Republic North Cyprus Water Supply project where he had been assigned as the Project Accountant based in Turkey. Among his responsibilities was the preparation of various reports pertaining to the Project Account. Prior to that, he was an auditor with Ernst & Young, attached to Global Financial Services department, engaged in performing auditing work for the financial institutions.
Ahmad Anas is an Associate Member of Association of Shariah Advisors in Islamic Finance (ASAS) and holds a professional certificate of Certified Shariah Advisor and Auditor (CSAA) and Certified Islamic Public Accountant (CIPA) from Accounting and Auditing Organisation for Islamic Financial Institution (AAOIFI). He holds a Master of Islamic Finance (MSc) from The Global University of Islamic Finance (INCEIF), and is an accounting graduate from Universiti Teknologi Mara (UiTM). He speaks English, Malays and Turkish.
Muhammad Hafizuddin
Assistant Consultant, Amanie Advisors Sdn Bhd
Muhammad Hafizuddin graduated with a Bachelor of Business Administration (HONS) Islamic Banking from Universiti Teknologi Mara (UiTM). He was exposed to the financial and Shariah advisory services such as Shariah stock screening, monitoring and compliance review during his internship with Amanie.
Sub-Managers
Principal Asset Management (S) Pte. Ltd. (formerly known as CIMB-Principal Asset Management (S) Pte. Ltd) (“Principal Singapore”)
Sub-Manager for:
- Principal DALI Equity Fund (formerly known as CIMB Islamic DALI Equity Fund) (foreign portion)
- Principal DALI Asia Pacific Equity Growth Fund (formerly known as CIMB Islamic DALI Asia Pacific Equity Growth Fund) (foreign portion)
- Principal Islamic Lifetime Balanced Fund (formerly known as CIMB Islamic Balanced Fund) (foreign portion)
- Principal Asia Titans Fund (formerly known as CIMB-Principal Asian Equity Fund)
- Principal China-India-Indonesia Opportunities Fund (formerly known as CIMB-Principal China-India-Indonesia Equity Fund)
- Principal Titans Growth & Income Fund (formerly known as CIMB-Principal Equity Growth & Income Fund) (foreign portion)
- Principal Titans Income Plus Fund (formerly known as CIMB-Principal Equity Income Fund) (foreign portion)
- Principal Global Titans Fund (formerly known as CIMB-Principal Global Titans Fund)
- Principal Asia Pacific Dynamic Income Fund (formerly known as CIMB-Principal Asia Pacific Dynamic Income Fund)
- Principal Asia Pacific Dynamic Income Fund (formerly known as CIMB-Principal Asia Pacific Dynamic Income Fund)
- Principal Asia Pacific Dynamic Mixed Asset Fund (formerly known as CIMB-Principal Asia Pacific Dynamic Mixed Asset Fund)
- CIMB-Principal Asia Pacific Target Return Fund 1
- Principal Dynamic Growth Fund (formerly known as CIMB-Principal Dynamic Growth Fund)
Principal Asset Management Berhad (“Principal Malaysia”) has appointed Principal Singapore as the Sub-Manager for the above funds, and was granted the discretion to manage, realise, invest, reinvest or howsoever deal with the respective portion of these funds allocated to foreign investments in accordance with the investment objectives of each of these funds. The Sub-Manager’s discretionary authority over the foreign investments of these funds is subject to the Guidelines on Unit Trust Funds issued by the Securities Commission Malaysia, the Capital Markets and Services Act 2007 and the internal policies and procedures.
Principal Malaysia shall be responsible for the review, monitoring and oversight of Principal Singapore in the performance of its duties and obligations in respect of these funds.
Principal Singapore was incorporated in Singapore on 18 May 2006, and has been in the fund management industry for more than ten (10) years. The company is a wholly-owned subsidiary of Principal Malaysia. Principal Singapore is a regional asset management company established in Singapore offering both Islamic and conventional fund management services. The company manages regional investment activities for the Principal Asset Management group of companies.
Principal Singapore is a licensed fund manager regulated by the Monetary Authority of Singapore. The company is the Fund Manager for the CIMB FTSE ASEAN 40 ETF and several other discretionary accounts and SGD 3.9 billion in Assets Under Management as of 31 December 2018.
Board of Directors of Principal Asset Management (S) Pte. Ltd.
Christopher Leow, Chief Executive Officer and Chief Investment Officer.
Alejandro Elias Echegorri Rodriguez, Director.
Chong Chooi Wan, Director.
Principal Global Investors, LLC (“PGI”)
Sub-Manager for:
- Principal Global Millennial Equity Fund (MILEF)
- Principal Islamic RetireEasy 2060 (iRE60)
- Principal Islamic RetireEasy 2050 (iRE50)
- Principal Islamic RetireEasy 2040 (iRE40)
- Principal Islamic RetireEasy 2030 (iRE30)
- Principal Islamic RetireEasy Income (iREI)
- Principal RetireEasy 2060 (RE60)
- Principal RetireEasy 2050 (RE50)
- Principal RetireEasy 2040 (RE40)
- Principal RetireEasy 2030 (RE30)
- Principal RetireEasy Income (REI)
PGI was appointed as the Sub-Manager for the above fund(s). As the Sub-Manager, PGI is responsible for the investment management function of the fund(s), which granted it with the discretion to manage, realize, invest, reinvest or howsoever deal with the fund(s) in accordance with the investment objective of the fund(s). The Sub-Manager’s discretionary authority over the investments of the fund(s) is subject to the Guidelines on Unit Trust Funds and/or Guidelines on Private Retirement Schemes issued by the Securities Commission Malaysia and the internal policies and procedures. Principal Asset Management Berhad shall be responsible for the review, monitoring and oversight of PGI in the performance of its duties and obligations in respect of the fund(s).
PGI is a global investment management leader and wholly-owned subsidiary of the Principal Financial Group® (“The Principal®”), a public company listed on the New York Stock Exchange under ticker symbol PFG. The Principal® was founded in 1879, began managing retirement assets in 1941, and today operates four primary business segments: Principal Global Investors, Retirement and Investor Services, Principal International, and Insurance Solutions.
PGI was formed as a Delaware Limited Liability Company in 1998 and became a registered investment advisor with the U.S. Securities and Exchange Commission on October 26, 1998 bringing together more than six decades of asset management experience of the company into a single organization. There have been no major organizational or ownership changes to the firm since inception.
The multi-boutique strategy of PGI enables it to provide comprehensive investment solutions for its clients and encompasses a growing network of specialized investment boutiques and teams with focused expertise in equities, fixed income, real estate, and asset allocation, as well as currency management, stable value management, and other structured investment strategies.
Principal Global Equities (“PGE”) is a specialized investment management group within PGI. PGE has been investing in global equity markets since 1987 and Principal now manages more than US $675.4 billion of assets, which includes over US $442.4 billion of assets managed by Principal Global Investors as of 31 March 2019. PGE provides client-focused active fundamental strategies and systematic solutions across equity markets worldwide.
Key person responsible for investment management of MILEF
Jeffrey A. Schwarte, CFA - Portfolio Manager
Jeff is a portfolio manager for Principal Global Equities. He co-leads the firm’s global systematic solutions team, responsible for model development and testing, proprietary technologies and risk management analytics for the firm’s fundamental and systematic strategies. He is a portfolio manager for several custom US, international and global systematic strategies and many of the firm’s active strategies. He joined the equities group in 2000 as an analyst, and was named a portfolio manager in 2001. He has been with Principal since 1993, holding various positions with the firm such as investment accountant and auditor. He received a bachelor's degree in accounting from the University of Northern Iowa. Jeff has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Society
Christopher Ibach, CFA - Portfolio Manager
Chris is a portfolio manager for Principal Global Equities. He specializes primarily in the management of global strategies, integrating fundamental and quantitative research . Chris also leads our advanced research and development initiatives, including ongoing alignment with the Principal data science team, which leads the coordination of our growing community of university and expert network resources. Chris has served as a key contributor to the firm’s research and development efforts for more than a decade, including model development for the firm’s proprietary stock selection models, portfolio construction, and risk management tools. He joined the firm in 2000 as an equities research analyst, specializing in the analysis of international technology companies and was named a portfolio manager in 2002. Previously, Chris gained six years of research and development experience with Motorola, Inc. He received an MBA in finance and a bachelor's degree in electrical engineering from the University of Iowa. Chris has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.
Steven Larson - Portfolio Manager - Global Equities
Steven is a Portfolio Manager for Principal Global Equities. He specializes primarily in the management of global large cap strategies. Steven began his career at Principal in 1992 and held several roles including co-managing international equity portfolios primarily for institutional and retirement plan clients. He also directly participated in the development of the firm’s first global equity strategy in 2002. Before rejoining Principal in 2019, Steven served as a partner and portfolio manager for international equities at Arbor Capital Management, LLC and later as managing director, portfolio manager for international equities at Winslow Capital Management (an affiliate of Nuveen/TIAA). He received an MBA in Finance from University of Minnesota, Carlson School of Management and a bachelor's degree in Finance from Drake University. Steven has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.
Key person responsible for investment management of the iRE60, iRE50, iRE40, iRE30, iREI, RE60, RE50, RE40, RE30 and REI
Randy Welch – Portfolio Manager
Randy Welch is Managing Director, Portfolio Manager at Principal Global Asset Allocation (PGAA), a specialized investment boutique within Principal Global Investors that engages in the creation of asset allocation solutions. He is responsible for overseeing the wholly-owned Asset Allocation team. He has been a portfolio manager for the Principal LifeTime Target Date portfolios since 2007 and the Principal Trust Hybrid Target Date Funds since their inception in 2009. He serves as a Portfolio Manager on the multi-managed core/satellite funds and is also responsible for the New Mexico 529 Plan. Randy joined Principal in 1989 and has been in the investment industry since 1985. Randy received an M.B.A. from Drake University and a bachelor’s degree from Grand View College. Randy is an affiliate member of the Chartered Financial Analysts (CFA) Institute.
Scott W. Smith – Portfolio Manager
Scott Smith is a Portfolio Manager for Principal Global Asset Allocation (PGAA), a specialized investment boutique within Principal Global Investors that engages in the creation of asset allocation solutions. Scott is involved in the portfolio management of the Principal LifeTime portfolios, the Principal LifeTime Hybrid Funds, and the Principal LifeTime Hybrid CITs, as well as several institutional target risk mandates and other target date offerings. Prior to becoming a Portfolio Manager, Scott served as an analyst and was responsible for building and maintaining asset allocation models. Prior to joining PGAA, Scott was a Portfolio Manager for a number of U.S. equity index portfolios. Scott joined Principal in 1999. He received a bachelor's degree in Finance from Iowa State University.
James Fennessey – Portfolio Manager
James is a Portfolio Manager within Principal Global Asset Allocation (PGAA), a specialized investment boutique within Principal Global Investors that engages in the creation of asset allocation solutions. He joined the Principal Financial Group in 2000. He has been a portfolio manager for the Principal LifeTime target date portfolios since 2007 and the Principal Trust Target Date CITs since their inception in 2009. He serves as a Portfolio Manager on the multi-managed core/satellite funds and is also responsible for New Mexico 529 Plan. James graduated from Truman State University with a B.S. in Business Administration, with an emphasis in Finance and a minor in Economics. He has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.
Principal Real Estate Investors, LLC
Sub-Manager for Principal Global Real Estate Fund
Principal Global Investors is a global asset management leader and a member of the Principal Financial Group, serving pension and institutional clients since 1841. Principal Real Estate Investors, LLC is a wholly owned subsidiary of Principal Global Investors, LLC and a member of Principal. Principal Real Estate Investors, LLC is a dedicated real estate group builds upon a vertically-integrated platform, incorporating all disciplines of commercial real estate. Drawing from over 6 decades of investment experience and the knowledge and relationships of over 230 real estate investment professionals, we provide our clients with access to opportunities across the spectrum of public and private equity, public debt and private debt investment, Principal Real Estate Investors has earned a reputation as a trusted advisor and built a top-tier investment platform. The
breadth of our capabilities provides a distinct perspective on real estate and capital markets and enables us to deliver the investment solutions our global client base desires.
As the Sub-Manager of the Fund, Principal Real Estate Investors, LLC is responsible for the fund management function of the Fund in accordance with the investment objective and within the investment parameters, restrictions and limits of the Fund.
Given the size and scope of our operations, it is not uncommon for Principal Real Estate Investors LLC to be involved in litigation, both as a defendant and as a plaintiff. However, management does not believe that any pending litigation will have a material adverse effect on our business, financial position or net income.
1. Key management staff of Principal Real Estate Investors - Global Real Estate Securities: Global Portfolio Management Team
| Name: | Kelly Rush, CFA |
| Designation: | Chief Investment Officer |
| Experience: | As head of global real estate securities, Kelly directs the domestic and global real estate investment trust (REIT) activity for Principal Real Estate Investors, the dedicated real estate unit 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. |
| Qualifications: | 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. |
| Name: | Koh Shern Ling, CFA |
| Designation: | Portfolio Manager, Real Estate Securities |
| Shern is a portfolio manager for Principal Real Estate Investors, the dedicated real estate unit of Principal Global Investors. He is responsible for researching Asian Pacific listed property securities for the team’s global real estate strategies. Shern joined the firm in early 2014. He was previously the CEO/CIO at OSK International Asset Management where he managed all investment mandates for their public and private equity business in Singapore. He served as an investment analyst at Fidelity International Ltd from 2007 to 2011 where he was responsible for identifying publicly listed real estate securities investment opportunities for Fidelity’s global funds. | |
| Qualifications: | Shern received his bachelor’s degree from Cambridge University, a master’s degree from Yale University, and an MBA from Harvard Business School. He has earned the right to use the Chartered Financial Analyst designation and speaks Mandarin and French. |
2.Key management staff of Principal Real Estate Investors, Commercial Mortgage Backed Securities (CMBS): Global Portfolio Management Team
| Name: | Marc Peterson, CFA |
| Designation: | Chief Investment Officer |
| Experience: | Marc is a managing director, portfolio management at Principal Real Estate Investors, the dedicated real estate group of Principal Global Investors. He is responsible for affiliated and non-affiliated CMBS investment strategies for PGI with current AUM of $9.3B. He manages a team of eight professionals who are responsible for due diligence and modeling of all CMBS opportunities. Recommendations are based on a combination of credit analysis and relative value within CMBS and other fixed income asset classes.Marc joined the firm in 1992. Prior to his current role, he was an accountant for The Principal Financial Group. |
| Qualifications: | He received an MBA from Drake University and a bachelor's degree in accounting from Luther College. Marc has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute. He is also a member of the CRE Financial Council. |
| Name: | Scott M.Carson, CFA |
| Designation: | Director – Portfolio Manager |
| Experience: | Scott is director - portfolio manager at Principal Real Estate Investors, the dedicated real estate group of Principal Global Investors. He is responsible for the management of affiliated and non-affiliated CMBS portfolios. He previously performed pricing, hedging and valuation functions for Principal Real Estate Investors' CMBS issuance program as well as developing real estate strategies and products as part of the new business development team. |
| Qualifications: | Scott received a bachelor's degree in finance from Iowa State University. Additionally, he has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute. |
Fund Outsourcing Providers
Deutsche Trustee Malaysia Berhad
The Manager has appointed Deutsche Trustee Malaysia Berhad to provide fund administration and fund accounting services. It is a wholly owned subsidiary of Deutsche Bank A.G. has built up an established presence in Kuala Lumpur since 1967.
Deutsche Trustee Malaysia Berhad’s roles and responsibilities include keeping proper records, performing valuations of the investments and fund accounting services, which would encompass the following services:
- Maintaining financial accounting record of portfolios including all transactions data, records and investment ledgers;
- Monitoring and recording of corporate actions;
- Performing cash and securities reconciliation with financial institutions and custodian records;
- Performing valuation of the investments and the Fund;
- Provision of a reporting package which includes the following:
- Statement of Assets and Liabilities
- Statement of Income and Expenditure
- Portfolio Valuation Report
- Transaction schedules
- Providing relevant information to facilitate the preparation of statistical returns for submission to regulatory bodies;
- Submitting accounts/accounting records to the appointed external auditors and providing relevant information for disclosure in the annual financial statements (whenever applicable)
HSBC (Malaysia) Trustee Berhad
The manager outsourced its fund valuation function to HSBC (Malaysia) Trustee Berhad (“HSBC”). HSBC is responsible to compute the fund’s NAV based on the method of calculation set out in the fund’s offering document and in accordance with the manager instruction.
HSBC (Malaysia) Trustee Berhad is a company incorporated in Malaysia since 1937 and registered as a trust company under the Trust Companies Act 1949, with its registered address at 13th Floor, Bangunan HSBC, South Tower, No. 2, Leboh Ampang, 50100 Kuala Lumpur. Since 1993, the Trustee has acquired experience in the administration of trusts and has been appointed as trustee for unit trust funds, exchange traded funds, wholesale funds and funds under private retirement scheme.
Funds outsourced to HSBC (Malaysia) Trustee Berhad;
- Principal Emerging Markets Multi Asset Fund (formerly known as CIMB-Principal Emerging Markets Multi Asset Fund)
- Principal US Mortgage Fund (formerly known as CIMB-Principal US Mortgage Fund)
- Principal Global Preferred Securities Fund (formerly known as CIMB-Principal Preferred Securities Fund)
- Principal China Multi Asset Income Fund (formerly known as CIMB-Principal China Multi Asset Income Fund)
- Principal Global Income Fund (formerly known as CIMB-Principal Global Income Fund)
- Principal China Direct Opportunities Fund (formerly known as CIMB-Principal China Direct Opportunities Fund)
- Principal World Selection Conservative Fund
- Principal World Selection Moderate Conservative Fund
- Principal World Selection Moderate Fund
- Principal World Selection Moderate Aggressive Fund
- Principal World Selection Aggressive Fund
- Principal Islamic Global Sukuk Fund (formerly known as CIMB Islamic Global Sukuk Fund)