Company: PGZ
Filing Date: 2025-01-03
Form Type: N-CSR
Source: 0001398344-25-000145
Chunk: 72

Company: Principal Real Estate Income Fund
Filing Date: 2025-01-03
Form: N-CSR
Chunk 72
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 for such hedging transactions develops. All of the aforementioned may adversely affect the Fund’s performance or net asset value.

| Principal Real Estate Income 
 Fund                         | Summary                
 of Updated Information 
 Regarding the Fund     |

October 31, 2024 (Unaudited)

Fundamental Investment Restrictions

The following investment restrictions of the Fund are designated as fundamental policies and as such cannot be changed without the approval of the holders of a majority of the Fund’s outstanding voting securities, which as used in this annual report means the lesser of (a) 67% of the shares of the Fund present or represented by proxy at a meeting if the holders of more than 50% of the outstanding shares are present or represented at the meeting or (b) more than 50% of outstanding shares of the Fund. As a matter of fundamental policy the Fund:

| (1) | Will                                                                                      
 concentrate its investments in the real estate industry, which may include CMBS, REITs,   
 REIT-like structures, and other securities that are secured by or otherwise have exposure 
 to, real estate;                                                                          |

| (2) | May                                                                                            
 not borrow money, except as permitted by (a) the 1940 Act, or interpretations or modifications 
 by the SEC, SEC staff or other authority with appropriate jurisdiction, or (b)                 
 exemptive or other relief or permission from the SEC, SEC staff or other authority;            |

| (3) | May                                                                                          
 not issue senior securities, as defined in the 1940 Act, other than (a) preferred shares     
 which immediately after issuance will have asset coverage of at least 200%, (b) indebtedness 
 which immediately after issuance will have asset coverage of at least 300% or (c) borrowings 
 permitted by investment restriction (2) above;                                               |

| (4) | May                                                                                        
 not purchase securities on margin (but the Fund may obtain such short-term credits as      
 may be necessary for the clearance of purchases and sales of securities); provided that    
 the purchase of investment assets with the proceeds of a permitted borrowing or securities 
 offering will not be deemed to be the purchase of securities on margin;                    |

| (5) | May                                                                                     
 not underwrite securities issued by other persons, except insofar as it may technically 
 be deemed to be an underwriter under the Securities Act in selling or disposing of a    
 portfolio investment;                                                                   |

| (6) | May                                                                                         
 make loans, only as permitted under the 1940 Act