Principal GIF Gl.High Yield A Dis AUD H/  IE00BP4VMB80  /

The objective of the Fund is to provide a return consisting of income and, over the long term, capital growth. The Fund seeks to achieve its overall objective by investing the majority of the assets of the Fund in a portfolio of US dollar denominated public and private issued highyield fixed income securities, such as fixed interest rate corporate bonds and Rule 144A securities (including Rule 144A securities which have not been issued with an undertaking to register them with the U.S. Securities and Exchanges Commission, provided that they are eligible investments for the Fund). The Fund may also invest globally in public and private issued high-yield fixed income securities, such as fixed interest rate corporate bonds. These securities will generally be rated below investment grade. The Fund is actively managed with reference to ICE BofA Global High Yield USD Hedged Index (the "Index") on the basis that the Fund seeks to outperform the Index.

The objective of the Fund is to provide a return consisting of income and, over the long term, capital growth.