Company: PDSRX
Filing Date: 2025-07-25
Form Type: 486BPOS
Source: 0001756404-25-000017
Chunk: 7

Company: Principal Real Asset Fund
Filing Date: 2025-07-25
Form: 486BPOS
Chunk 7
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 shares outstanding during the period.

(b) Excludes interest expense and commitment fees charged on borrowings. See "Operating Policies" in notes to financial statements.

(c) Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption.

(d) Total return is calculated without the front-end sales charge or contingent deferred sales charge.

(e) Total returns calculated using the reported net asset values as of March 31, 2025 are 3.31%, 3.81% and 3.65% for Class A, Class Y and Institutional, respectively.

(f) Subject to Manager's contractual expense limit.

(g) Total returns calculated using the reported net asset values as of March 31, 2024 are 1.94%, 2.46% and 2.24% for Class A, Class Y and Institutional, respectively.

(h) Total returns calculated using the reported net asset values as of March 31, 2023 are (3.11)%, (2.64)% and (2.80)% for Class A, Class Y and Institutional, respectively.

(i) Total returns calculated using the reported net asset values as of March 31, 2022 are 14.32%, 14.86%, and 14.62% for Class A, Class Y, and Institutional, respectively.

(j) Period from June 25, 2019, date operations commenced, through March 31, 2020.

(k) Total return amounts have not been annualized.

(l) Computed on an annualized basis.

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#### THE FUND
Principal Real Asset Fund (the “Fund”) is a non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund continuously offers its shares of beneficial interest (the “Shares”) and is operated as an “interval fund."

The Fund currently offers three classes of Shares: A, Institutional, and Y. The Fund may offer additional classes of Shares in the future.

The Fund was organized as a Delaware statutory trust on September 21, 2018 and is operated pursuant to an Amended and Restated Agreement and Declaration of Trust (the "Declaration") governed by the State of Delaware. The Fund has a limited operating history. The Fund’s principal office is located at