EX-99.(L)(45) 9 initialcapagmt092215.htm INITIAL CAPITAL AGMT 092215 Exhibit

September 22, 2015


Mr. Michael Beer, President
Principal Funds, Inc.
Principal Financial Group
Des Moines, IA 50392-2080


Dear Mr. Beer:

Principal Financial Services, Inc. intends to purchase the following shares (the “Shares”):


Principal Funds, Inc. -
Purchase
Amount
Shares
Purchased
SystematEx Large Value Fund – Class R-6
$7,500,000
750,000
SystematEx International Fund – Institutional
$4,000,000
400,000
SystematEx International Fund – Class R-6
$3,500,000
350,000
Global Opportunities Equity Hedged Fund – Class A
$2,500,000
250,000
Global Opportunities Equity Hedged Fund – Institutional
$2,500,000
250,000
Global Opportunities Equity Hedged Fund – Class P
$2,500,000
250,000

Each share of SystematEx Large Value Fund has a par value of $0.01 and a price of $10 per share. Each share of SystematEx International Fund has a par value of $0.01 and a price of $10 per share. Each share of Global Opportunities Equity Hedged Fund has a par value of $0.01 and a price of $10 per share. In connection with such purchase, Principal Financial Services, Inc. represents and warrants that it will purchase such Shares as an investment and not with a view to resell, distribute or redeem.


 
PRINCIPAL FINANCIAL SERVICES, INC.
 
 
 
 
 
 
 
 
 
 
By
/s/ Clint Woods
 
 
Vice President and Associate General Counsel