According to a press release, previously, the fund was limited to investing in companies located or doing significant business in Alaska, California, Oregon, and Washington. The new name and strategy allow the portfolio manager to take advantage of a wider range of investment opportunities throughout the United States.

The investment approach is long-term, generally with a three- to five-year time horizon for the fund’s holdings. Principal said the buy-and-hold strategy generates low portfolio turnover, which contributes to the fund’s tax efficiency and relatively low expenses.

“The investment philosophy behind this fund has a proven history of success,” said Dave Reichart, head of business development for Principal Funds, in the press release. “By lifting geographic restrictions on stocks the fund can hold, we’re expanding our opportunity to deliver even more value to the investor.”

More information about Principal Funds can be found at www.principalfunds.com.