Company: PDSRX
Filing Date: 2025-11-25
Form Type: N-CSRS
Source: 0001756404-25-000041
Chunk: 64

Company: Principal Real Asset Fund
Filing Date: 2025-11-25
Form: N-CSRS
Chunk 64
---
operations,

the

experience

and

skills

of

the

personnel

that

would

perform

the

functions

under

the

### Management
Agreement

and

the

resources

that

would

be

made

available

to

such

personnel,

the

ability

of

the

Manager

to

attract

and

retain

high-quality

personnel

and

the

organizational

depth

and

stability

of

the

Manager.

The

Board

also

considered

that

the

Manager

had

delegated

day-to-day

portfolio

### management
responsibility

to

the

Sub-Adviser,

an

affiliate

of

the

Manager.

The

Board

noted

that

the

Manager’s

process

for

the

selection

of

sub-advisors

emphasizes

the

selection

of

Principal-affiliated

sub-advisors

that

are

determined

to

be

qualified

under

the

Manager’s

due

diligence

process,

but

that

the

Manager

will

select

an

unaffiliated

sub-advisor

to

manage

all

or

a

portion

of

the

Fund’s

investment

portfolio

when

deemed

necessary

or

appropriate

based

upon

a

consideration

of

the

Fund’s

investment

mandate

and

available

expertise

and

resources

within

the

Principal

organization.

The

Board

considered

the

due

diligence

process

developed

by

the

Manager

for

purposes

of

selecting

a

qualified

sub-advisor

for

the

Fund.

The

Board

considered

the

Manager’s

due

diligence

process

for

monitoring

and

replacing

sub-advisors

and

for

monitoring

the

investment

performance

of

sub-advisors.

The

Board

concluded

that

appropriate

resources

were

provided

under

the

### Management
Agreement,

that

the

Manager

had

sufficient

quality

and

depth

of

personnel,

resources,

investment

methods,

and

compliance

policies

and

### procedures
to

perform

its

duties