# Fund analysis
Average Credit Quality	BB+	BB-
Current Yield	6.77.3
Yield to Worst	12.013.4
Yield to Maturity	12.013.2
Option Adjusted Duration (Years)	2.22.7
Any yields quoted on the fact sheet are calculated at portfolio level gross of tax and expenses.
| Top 10 holdings (%) |  |  | Credit quality (%) |  |
| --- | --- | --- | --- | --- |
|  | Fund |  |  | Fund | Difference |
| Mgm China Holdings Ltd | 2.2 |  | AAA | 19.7 | 19.7 |
| Network I2i Ltd | 1.9 |  | A | 0.6 | 0.6 |
| Adaro Indonesia Pt | 1.9 |  | BBB | 6.3 | 6.3 |
| Melco Resorts Finance Ltd | 1.8 |  | BB | 40.8 | -20.7 |
| Country Garden Holdings Co Ltd | 1.7 |  | B | 19.7 | -9.4 |
| Wynn Macau Ltd | 1.6 |  | CCC and Below | 5.9 | -3.5 |
| Mongolia Government International Bond | 1.6 |  | Not Rated | 7.0 | 7.0 |

Sands China Ltd1.4
New Metro Global Ltd1.4
Indika Energy Capital Iv Pte Ltd1.4

## Total	16.9
Credit Quality refers to the credit ratings for the underlying securities in the Fund as rated by Standard & Poor's or Moody's Investors Service, and typically range from AAA/Aaa (highest) to C/D (lowest). If Moody's and S&P assign different ratings, the higher rating is used. Ratings methodologies and individual ratings can change over time.
No. of holdings110
| Geographic allocation (%) |  |  |  | Industry allocation (%) |  |
| --- | --- | --- | --- | --- | --- |
|  | Fund | Difference |  |  | Fund | Difference |
| China | 23.1 | -9.3 |  | Real Estate | 18.4 | 2.1 |
| United States | 19.6 | 19.6 |  | Leisure | 15.0 | -0.6 |
| India | 19.6 | -2.5 |  | Banking | 10.8 | -6.5 |
| Macau | 10.6 | -0.4 |  | Utility | 8.1 | -4.9 |
| Indonesia | 7.7 | 0.6 |  | Basic Industry | 7.2 | -3.6 |
| Hong Kong | 5.7 | -4.8 |  | Sovereign | 5.3 | -2.1 |
| Philippines | 2.9 | 2.6 |  | Financial Services | 4.1 | 3.5 |
| Thailand | 2.4 | 0.5 |  | Telecommunications | 3.1 | 0.8 |
| Pakistan | 2.2 | -1.6 |  | Energy | 3.0 | -1.9 |
| South Korea | 1.8 | 1.2 |  | Automotive | 1.6 | 0.2 |
| Mongolia | 1.6 | -1.0 |  | Capital Goods | 1.4 | -0.6 |
| Singapore | 0.7 | -1.6 |  | Technology & Electronics | 1.4 | 0.3 |
| Sri Lanka | 0.7 | 0.7 |  | Transportation | 1.2 | -2.6 |
| Other | 1.2 | -4.2 |  | Local-Authority | 0.5 | -1.8 |
|  |  |  |  | Other | 0.0 | -1.2 |
|  |  |  |  | Cash | 18.8 | 18.8 |

Source: Principal Global Investors and/or its affiliates and the Index.
Data: This data/analysis is not sourced from the Fund's official record. It is based upon data from the internal systems of Principal Global Investors and/or its affiliates. Performance shown in this section is gross which does not take into account any fees or other charges which, if taken into account, would reduce the figures shown.
Asian High Yield Fund - D2 Class Income Units

Translation (ENIT, 2023-03-31):
# Valutazione del fondo
4 Star Overall Morningstar Rating™ as of 31 March 2023
★★★★
| Wynn Macau Ltd | 1,6 |  | CCC and Below | 5,9 | -3,5 |
| --- | --- | --- | --- | --- | --- |
| Mongolia Government International Bond | 1,6 |  | Not Rated | 7,0 | 7,0 |

Sands China Ltd	1,4
New Metro Global Ltd	1,4
Indika Energy Capital Iv Pte Ltd	1,4

### Totale	16,9
La qualità creditizia fa riferimento ai rating assegnati ai titoli sottostanti del Fondo da Standard & Poor’s o Moody’s Investors Service e sono in genere compresi tra AAA/Aaa (valutazione massima) e C/D (valutazione minima). Se Moody’s e S&P assegnano rating diversi si utilizza quello più elevato. Le metodologie di valutazione e i singoli rating possono mutare nel tempo.
Numero di titoli110
| Geographic allocation (%) |  |  |  | Ripartizione per industria % |  |
| --- | --- | --- | --- | --- | --- |
|  | Fondo | Differenza |  |  | Fondo | Differenza |
| Cina | 23,1 | -9,3 |  | Real Estate | 18,4 | 2,1 |
| Stati Uniti | 19,6 | 19,6 |  | Leisure | 15,0 | -0,6 |
| India | 19,6 | -2,5 |  | Banking | 10,8 | -6,5 |
| Macau | 10,6 | -0,4 |  | Utility | 8,1 | -4,9 |
| Indonesia | 7,7 | 0,6 |  | Industrie di base | 7,2 | -3,6 |
| Hong Kong | 5,7 | -4,8 |  | Sovereign | 5,3 | -2,1 |
| Filippine | 2,9 | 2,6 |  | Financial Services | 4,1 | 3,5 |
| Tailandia | 2,4 | 0,5 |  | Telecommunications | 3,1 | 0,8 |
| Pakistan | 2,2 | -1,6 |  | Energia | 3,0 | -1,9 |
| Corea Del Sud | 1,8 | 1,2 |  | Automotive | 1,6 | 0,2 |
| Mongolia | 1,6 | -1,0 |  | Beni strumentali | 1,4 | -0,6 |
| Singapore | 0,7 | -1,6 |  | Technology & Electronics | 1,4 | 0,3 |
| Sri Lanka | 0,7 | 0,7 |  | Trasporti | 1,2 | -2,6 |
| Altro | 1,2 | -4,2 |  | Local-Authority | 0,5 | -1,8 |
|  |  |  |  | Altro | 0,0 | -1,2 |
|  |  |  |  | Liquidità | 18,8 | 18,8 |

Fonte: Principal Global Investors e/o delle sue affiliate e dell'Indice.
Dati: Questo dato/analisi non è tratto dal resoconto ufficiale del Fondo. Si basa sui dati provenienti dai sistemi interni di Principal Global Investors e/o dei suoi affiliati. Le prestazioni indicate in questa sezione si intendono lorde e non tengono conto delle commissioni o di altri oneri che, se presi in considerazione, riducono le cifre indicate.
Asian High Yield Fund - D2 Class Income Units