A regionally-focused fund has expanded its investment universe and is looking to take advantage of a wider range of investment opportunities. As of June 30, the Principal Funds’ West Coast Equity Fund no longer limits itself to companies domiciled or doing significant business in Alaska, California, Oregon and Washington and will instead pursue investments throughout the United States without geographic restrictions.

The changes to the underlying investment strategy of the fund are denoted by a new name -- the fund is now known as the Principal Capital Appreciation Fund. The newly structured fund will invest across small, mid and large cap companies in order to provide long-term growth of capital. The fund, founded in 1986, currently has assets of roughly $812 million and is one of ten large-cap strategies offered by Principal.

The change is being marketed as an opportunity to expand the fund's existing long-term investment strategy to country-wide investment opportunities. Dave Reichart, head of business development for Principal Funds, noted that "the investment philosophy behind this fund has a proven history of success. By lifting geographic restrictions on stocks the fund can hold, we’re expanding our opportunity to deliver even more value to the investor."

The West Coast Equity Fund was named "Best Multi-Cap Core Fund over 10 Years" by Lipper this April. 

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