Principal Global Investors unveils US equity income product

Principal Global Investors has unveiled a US income product to be managed by its US-based affiliate Edge Asset Management.

The Edge Equity Income fund will provide a combination of income and long-term capital growth by investing in US large-caps, typically above $7bn in size, with the ability to pay and grow dividends over time and in all economic environments. The Dublin-registered and UCITS compliant fund will be managed by Edge's Dan Coleman, head of equities, and David Simpson. It will be benchmarked against the Russell 1000 Value index. "Increased volatility in the equity markets and low yields on bonds has understandably intensified the search for alternative income strategies. The yield availab...