Everett Elected to Investment Company Institute's Board of Governors
DES MOINES, Iowa -- October 23, 2012
Principal Funds President and CEO Nora Everett has been elected to the
Investment Company Institute’s (ICI) Board of Governors. Everett, one of seven
new members, will serve a three-year term expiring September 30, 2015.
ICI is the national association of U.S. investment companies, including mutual
funds, exchange-traded funds, closed-end funds and unit investment trusts.
Members of ICI manage total assets of $13.5 trillion and serve over 90 million
“ICI has a longstanding commitment to promoting education, transparency and
high ethical standards within the investment industry – for the benefit of
fund shareholders,” said Everett. “It’s an honor to be chosen to serve on this
board. I’m looking forward to working with my ICI colleagues on critical
issues impacting our mutual fund investors and their retirement savings.”
Everett joined the Principal Financial Group^® in 1991 and was promoted to
senior vice president in 2004. She became president of Principal Funds in
2008. Prior to joining The Principal^®, Everett practiced law in Washington,
D.C. She earned her bachelor’s degree and Phi Beta Kappa honors from Iowa
State University and her J.D. degree from William & Mary Law School.
Everett serves on several boards, including Principal Funds, Principal
International, Origin Asset Management, Finisterre Capital and the Community
Foundation of Greater Des Moines.
About Principal Funds
Principal Funds is a leading provider of mutual funds, with $77.2 billion in
assets under management.^1 Principal Funds brings expertise in global
investment management, asset allocation and retirement leadership to financial
professionals and investors. Including its target-risk and target-date
offerings, Principal Funds is the fifth largest manager of lifecycle funds in
the industry.^2 The companies that make up Principal Funds are members of the
Principal Financial Group^®. For more information, visit
About the Principal Financial Group
The Principal Financial Group^® (The Principal ^®)^3 is a global investment
management leader including retirement services, insurance solutions and asset
management. The Principal offers businesses, individuals and institutional
clients a wide range of financial products and services, including retirement,
asset management and insurance through its diverse family of financial
services companies. Founded in 1879 and a member of the FORTUNE 500^®, the
Principal Financial Group has $367.1 billion in assets under management^4 and
serves some 18.2 million customers worldwide from offices in Asia, Australia,
Europe, Latin America and the United States. Principal Financial Group, Inc.
is traded on the New York Stock Exchange under the ticker symbol PFG. For more
information, visit www.principal.com.
The Principal LifeTime Funds, which are target-date funds, invest in
underlying Principal Funds. Each Principal LifeTime Fund is managed toward a
particular target (retirement) date, or the approximate date the participant
or investor starts withdrawing money. As each Principal LifeTime Fund
approaches its target date, the investment mix becomes more conservative by
increasing exposure to generally more conservative investment options and
reducing exposure to typically more aggressive investment options. The asset
allocation for each Principal LifeTime Fund is regularly re-adjusted within a
timeframe that extends 10-15 years beyond the target date, at which point it
reaches its most conservative allocation. Principal LifeTime Funds assume the
value of the investor's account will be withdrawn gradually during retirement.
Neither the principal nor the underlying assets of the Principal LifeTime
Funds are guaranteed at any time, including the target date. Investment risk
remains at all times.
Investors should carefully consider a fund’s investment objectives, risks,
charges, and expenses prior to investing. A prospectus, or summary prospectus
if available, containing this and other information can be obtained by
contacting a financial professional, visiting principalfunds.com, or calling
800-222-5852. Read the prospectus carefully before investing.
A mutual fund's share price and investment return will vary with market
conditions, and the principal value of an investment when you sell your shares
may be more or less than the original cost.
Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc.,
member of the Principal Financial Group^®. Principal Funds Distributor,
Principal Shareholder Services, Principal Management Corporation and its
affiliates, and Principal Funds, Inc. are collectively referred to as
^1 As of June 30, 2012. Includes all share classes of the Principal Funds,
Inc. and Principal Variable Contracts Funds, Inc.
^2 FRC Mutual Fund Lifecycle Report Q112.
^3 “The Principal Financial Group” and “The Principal” are registered service
marks of Principal Financial Services, Inc., a member of the Principal
^4 As of June 30, 2012.
The Principal Financial Group
Jaime Naig, 515-247-0798
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