Company: PDSRX
Filing Date: 2025-07-25
Form Type: 486BPOS
Source: 0001756404-25-000017
Chunk: 50

Company: Principal Real Asset Fund
Filing Date: 2025-07-25
Form: 486BPOS
Chunk 50
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 terms, may seek to sell commonly held investments before the Fund sells such investments. Sale by such other accounts of the same or similar investments, depending upon the volume of sales and the nature of the market, may affect the market value of investments that continue to be held by the Fund.

Other potential conflicts might arise due to compensation arrangements. The management fee received by PGI (and the fee PGI pays to a Sub-Advisor) is based on the Fund’s average daily managed assets. As a result, PGI and the Sub-Advisor(s) may have a financial incentive to cause the Fund to use leverage or invest in more speculative investments to increase the assets of the Fund, and accordingly, the fees they receive. Other clients advised by PGI or the Sub-Advisor(s) may pay them a higher asset-based fee or performance-based compensation, which could create an incentive for PGI or the Sub-Advisor to favor such clients over the Fund.

Conflicts may arise relating to selection of brokers or dealers to execute Fund portfolio trades and/or specific uses of commissions from Fund portfolio trades (for example, research, or “soft dollars,” if any).

To the extent permitted by applicable law, PGI or a Sub-Advisor (or an account managed by PGI or a Sub-Advisor) may have economic interests in, or other relationships with, issuers or special purpose vehicles in which the Fund may have an economic interest. Such persons may invest at different levels of an entity’s capital structure or in different classes of an issuer’s securities that give rise to conflicts of interest between or among the various classes of securities that may be held by the Fund and such other clients, including in the case of financial distress of the investment entity. PGI or a Sub-Advisor’s respective partners, security holders, officers, directors, agents or employees may serve on an issuer’s board of directors or otherwise have ongoing relationships. In such cases, to the extent consistent with applicable law, PGI or a Sub-Advisor may be required by its fiduciary obligations on behalf of another account to take actions that are not in the Fund’s best interests. Moreover, the Fund may be limited by applicable law or other policies in its ability to invest in a portfolio company in which PGI, a Sub-Advisor, or their respective clients have an investment.

PGI and the Sub-Advisor(s) are authorized to combine purchase or sale orders on the Fund’s behalf together with orders for the other accounts managed by them or their respective affiliates and allocate the securities or