* The unit price of the fund is calculated on net asset value.

Fund Name  Inception Date  Monthly Fund  Fact Sheet Principal Global Equity Fund - A Class Acc Unit 04/12/1992 Principal European Equity Fund - A Class Acc Unit 24/11/1992 Principal Asian Equity Fund - A Class Acc Unit 06/11/1992 Principal Emerging Markets Equity Fund - A Class Acc Unit 19/02/1998 Principal Japanese Equity Fund - A Class Acc Unit 01/08/2000 Principal Preferred Securities Fund - A Class Inc Unit 27/02/2005 Principal U.S. Equity Fund - A Class Acc Unit 01/12/2003

Investment involves risks and past performance is not indicative of future performance. The value of units may rise and fall. Details of the funds and risks of emerging markets are contained in the Prospectus. Investors are advised to read and understand the contents of this Prospectus before investing.