Company: PDSRX
Filing Date: 2025-07-25
Form Type: 486BPOS
Source: 0001756404-25-000017
Chunk: 68

Company: Principal Real Asset Fund
Filing Date: 2025-07-25
Form: 486BPOS
Chunk 68
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 account the last reported net asset value of the Private Fund using the practical expedient and adjusting, to the extent not then part of the valuation methodology then employed. Adjustments may be made for subsequent capital calls and distributions, market prices for listed securities where there is sufficient transparency, foreign currency fluctuations, material events on private securities that the Fund is aware of and any material estimated fees and expenses of the Fund for the period. In circumstances where the Private Fund’s net asset value is suspended, or the Fund believes that the net asset value is not representative of fair value based on the information that it has obtained through its investment and operational due diligence reviews and ongoing monitoring of the Private Fund, an alternative valuation methodology, approved by the Fund’s Valuation Committee, may be utilized.

DISTRIBUTIONS AND DISTRIBUTION REINVESTMENT POLICIES

#### Distribution Policy
The Fund intends to distribute most or all of its net earnings and realized gains, if any, in the form of dividends from net investment income (“dividends”) and distributions of net realized capital gains (“capital gain distributions,” and together with dividends, “distributions”). The Fund intends to declare and distribute dividends to Shareholders of record semi-annually. A portion of the Fund’s semi-annual distribution may consist of a return of capital (i.e. from your original investment). Shareholders should not assume that the source of a distribution from the Fund is net profit. Net realized capital gain distributions, if any, are usually declared and paid in December for the prior twelve-month period ending October 31. The Fund does not have a fixed distribution rate nor does it guarantee that it will pay any distributions in any particular period. If deemed necessary by the Board and management to comply with regulatory requirements or if in the best interest of shareholders, dividend and capital distributions may be paid at other times during the year.

#### Distribution Options
When completing your application, you may select one of the following options for distributions. Notify the Fund of a change in your distribution option at least 10 days before the record date of the distribution.

• Full Reinvestment. Distributions from the Fund will be reinvested in additional Shares of the same class of the Fund. This option will be selected automatically unless one of the other options is specified.

• Part Cash and Part Reinvestment. You may request to have part of your distributions paid in cash and part of your distributions reinvested in additional Shares of the same class of the Fund.

• All Cash. Distributions will be paid in cash. You may