principal global investors funds an umbrella trust governed by the laws of ireland interim unaudited report for six months ended 31 march 2005 general information 3 investment adviser s 5 portfolio investments equity fund 8 asian 11 european 13 emerging markets 16 japanese 19 multi sector bond 21 preferred securities 26 us 29 high yield balance sheet 34 notes to 35 statement changes 51 52 53 54 55 56 57 58 59 directory 61 enquiries 62 following is derived from and should be read in conjunction with full text definitions section prospectus was constituted on october 1992 as open
