Principal Finisterre Emerging Markets Total Return Bond Fund is an open‑end mutual fund focused on fixed income from emerging economies. Its primary objective is to deliver total return by combining current income with capital appreciation, investing predominantly in bonds and other debt securities tied economically to emerging markets, alongside derivatives used for exposure and risk management. The strategy spans hard‑currency and local‑currency sovereign and corporate debt, and actively employs tools such as interest rate futures, swaps, credit default swaps, and currency positions to adjust duration, credit, and FX risk. The portfolio is broadly diversified across hundreds of holdings with a moderate interest‑rate sensitivity profile, and it distributes income on a regular basis. Managed by a specialist team at Principal/Finisterre, the fund targets a flexible, benchmark‑aware approach intended to navigate varying market cycles within developing countries’ debt markets. Within the emerging markets bond category, it emphasizes research‑driven allocation and dynamic hedging to balance yield opportunities with macro and credit risks inherent to these markets.