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This material contains general information only on investment matters; it should not be considered as a comprehensive statement on any matter and should not be relied upon as such. The information it contains does not take account of any investor's investment objectives, particular needs or financial situation. You should consider whether an investment fits your investment objectives, particular needs and financial situation.

The contents of this material have been approved solely for the purposes of S.21 of the Financial Services and Markets Act 2000 by Principal Global Investors (Europe) Limited, which is authorised and regulated by the Financial Services Authority. In the United Kingdom this document is directed exclusively at persons who are market counterparties or intermediate customers (as defined by the rules of the Financial Services Authority). In all other jurisdictions, this document is directed exclusively at professional or other sophisticated institutional investors. No persons should rely on the contents of the material. Products upon which composite results contained in this material, if any, are based may not themselves be available in the United Kingdom and certain other jurisdictions; however, the underlying investment management capability can be made available to institutional investors subject to all applicable local regulations and restrictions. In connection with its management of client portfolios, Principal Global Investors (Europe) Limited may delegate management authority to affiliates that are not authorised and regulated by the Financial Services Authority. In any such case, the client may not benefit from all protections afforded by rules and regulations enacted under the Financial Services and Markets Act 2000.