EX-99.(L)(51) 3 ex99l51-initialcapitalagmt.htm INITIAL CAPITAL AGMT 112216 Exhibit


Principal Funds
711 High Street, Des Moines, IA 50392
515 247 5111 tel
www.principal.com
newprincipallogo.jpg


November 22, 2016

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


Dear Mr. Beer:

Principal Management Corporation intends to purchase the following shares (the “Shares”):

Principal Funds, Inc. -
Purchase
Amount
Shares
Purchased
High Yield Fund - R6
$10,000
1400.560
International Fund I - R6
$10,000
789.266
International Emerging Markets Fund - R6
$10,000
463.607
MidCap S&P 400 Index Fund - R6
$10,000
484.966
MidCap Fund - R6
$10,000
435.161
Real Estate Securities Fund - R6
$10,000
450.450
SmallCap Fund - R6
$10,000
426.076
SmallCap S&P 600 Index Fund - R6
$10,000
377.074

Each share of the High Yield Fund has a par value of $0.01 and a price of $7.14 per share. Each share of the International Fund I has a par value of $0.01 and a price of $12.67 per share. Each share of the International Emerging Markets Fund has a par value of $0.01 and a price of $21.57 per share. Each share of the MidCap S&P 400 Index Fund has a par value of $0.01 and a price of $20.62 per share. Each share of the MidCap Fund has a par value of $0.01 and a price of $22.98 per share. Each share of the Real Estate Securities Fund has a par value of $0.01 and a price of $22.20 per share. Each share of the SmallCap Fund has a par value of $0.01 and a price of $23.47 per share. Each share of the SmallCap S&P 600 Index Fund has a par value of $0.01 and a price of $26.52 per share. In connection with such purchase, Principal Management Corporation represents and warrants that it will purchase such Shares as an investment and not with a view to resell, distribute or redeem.

PRINCIPAL MANAGEMENT CORPORATION



BY _ _/s/ Adam U. Shaikh__________________
Adam U. Shaikh
Counsel