Consent of Independent Registered Public Accounting Firm

We consent to the reference to our firm under the captions “Financial Highlights” and 

“Financial Statements” in the Proxy Statement/Prospectus and “Information Incorporated 

by Reference” in the Statement of Additional Information and to the incorporation by 

reference in the Statement of Additional Information of our report dated December 18, 

2009, with respect to the financial statements and financial highlights of the High-Quality 

Intermediate Term Bond Fund of the Principal Funds, Inc. in this Registration Statement 

under the Securities Act of 1933 (Form N-14/A), filed with the Securities and Exchange 

Commission. 

                                                                                                                              /s/ Ernst & Young LLP 

Chicago, Illinois 

March 12, 2010