Principal LifeTime 2045 Fund R-3 Class is a target-date mutual fund designed to align with investors anticipating retirement around the year 2045. The fund pursues a total return objective, balancing long-term capital appreciation with current income. It operates as a fund of funds, investing primarily in a diversified mix of underlying Principal Exchange-Traded Funds and Principal Funds, Inc. portfolios. These underlying investments span domestic and international equities, fixed income, and real asset funds, aiming to achieve broad diversification and risk management beyond traditional asset classes. A distinctive feature of the fund is its dynamic asset allocation strategy: the portfolio starts with a higher equity allocation for growth potential and systematically shifts toward more conservative holdings, such as bonds and other fixed-income securities, as the 2045 target date approaches. This gradual shift is designed to reduce volatility and provide greater capital preservation for investors nearing retirement. The Principal LifeTime 2045 Fund R-3 Class is widely used for retirement planning within employer-sponsored plans, serving as a single, professionally managed investment solution that adapts to a participant's lifestage and retirement horizon.
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