0001756404-24-000010.txt : 20240318 0001756404-24-000010.hdr.sgml : 20240318 20240318104925 ACCESSION NUMBER: 0001756404-24-000010 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240318 DATE AS OF CHANGE: 20240318 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Principal Real Asset Fund CENTRAL INDEX KEY: 0001756404 ORGANIZATION NAME: IRS NUMBER: 832104764 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-228850 FILM NUMBER: 24757335 BUSINESS ADDRESS: STREET 1: 711 HIGH ST. CITY: DES MOINES STATE: IA ZIP: 50392 BUSINESS PHONE: 5152359328 MAIL ADDRESS: STREET 1: 711 HIGH ST. CITY: DES MOINES STATE: IA ZIP: 50392 FORMER COMPANY: FORMER CONFORMED NAME: Principal Diversified Select Real Asset Fund DATE OF NAME CHANGE: 20181018 424B3 1 prasaisupp031824.htm 424B3 Document

Principal Real Asset Fund
Supplement dated March 18, 2024
to the Statement of Additional Information dated August 1, 2023
(as previously supplemented)
This supplement updates information currently in the Statement of Additional Information (“SAI”). Please retain this supplement for future reference.
On March 13, 2024, the Board of Trustees (the “Board”) of Principal Real Asset Fund (the “Fund”) elected Thomas A. Swank as an Independent Board Member effective immediately. Also on that date, Patrick G. Halter retired from the Board. As such, the changes set forth below are being made to the Fund’s SAI.
MANAGEMENT OF THE FUND
Delete all references to Patrick G. Halter.
Under Independent Trustees, add the following in alphabetical order:
Thomas A. Swank. Mr. Swank has served as an Independent Board Member of the Fund Complex since March 2024. From 2015 to 2023, Mr. Swank served as the Chief Executive Officer and President of Wellabe, formerly American Enterprise Group, Inc. He has served as the Chairman of Board for Wellabe since 2023 and as a Director since 2015. Mr. Swank has also served as a Director on the Director Forum 500 - American Council of Life Insurers since 2015. Through his education, employment experience, and experience as a board member, Mr. Swank is experienced with financial, accounting, regulatory, and investment matters.
Under Board Committees, delete the members of the Executive Committee and Operations Committee and replace with the following:
Committee and Independent Board Members
Executive Committee
Kamal Bhatia, Chair
Craig Damos
Kenneth A. McCullum
Operations Committee
Padelford L. Lattimer, Chair
Katharin S. Dyer
Karen McMillan
Thomas A. Swank
Under Additional Information Regarding Board Members and Officers, in the INDEPENDENT BOARD MEMBERS table, add the following in alphabetical order:
INDEPENDENT BOARD MEMBERS
Name, Address,
and Year of Birth
Board Positions Held
with Fund Complex
Principal Occupation(s)
During Past 5 Years
Number of
Portfolios
Overseen
in Fund
Complex
Other
Directorships
Held During
Past 5 Years
Thomas A. Swank
711 High Street
Des Moines, IA 50392
1960
Director, PFI and PVC (since 2024)
Trustee, PRA and PETF (since 2024)
Chief Executive Officer and President, Wellabe (formerly, American Enterprise Group, Inc.) (life and health insurance) from 2015 -2023126Wellabe (formerly, American Enterprise Group, Inc.)
2015 - present
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In the Board Member Ownership of Securities section, add the following row alphabetically and footnote to the Independent Board Members table:
INDEPENDENT BOARD MEMBERS
Board Member
Dollar Range of Equity Securities
in the Fund
Aggregate Dollar Range of
Equity Securities in
All Registered Investment Companies
in the Fund Complex
Thomas A. Swank(2)
A
A
(2)Appointment effective March 13, 2024.
In the Board Member and Officer Compensation section, add the following row alphabetically and footnote to the Independent Board Members table:
Independent Board Members
Board Member
Aggregate Compensation
from the Fund		Total Compensation from the Fund and
Fund Complex Paid to Board Members
Thomas A. Swank(2)
$0
$0
(2)Mr. Swank was elected to the Board effective March 13, 2024 and therefore did not receive compensation from the Fund or the Fund Complex for the fiscal year ended March 31, 2023.
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