Aug. 19, 2002 — Principal Financial Grp (PFG) is eliminating the Principal Partners Large Cap Growth Fund/A (PLCAX) by merging it into the larger Principal Growth Fund/A (PRGWX).
The Large-Cap Growth fund has performed worse than similar funds, Principal Financial said in a regulatory filing. The company added that the fund’s strategy of buying a relatively small number of companies exhibiting accelerating earnings has become “unpopular with many investors” because it is relatively risky and volatile.
The Large-Cap Growth fund lost 33.6% for the year ended in July. The portfolio is too new to be ranked by Standard & Poor’s.