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Principal Global Investors offers expertise in the management of mid-cap and large-cap growth equities through our affiliate, Columbus Circle Investors. With $15.7 billion in assets under management,* as of December 31, 2009, Columbus Circle Investors (CCI) provides a strong history in growth-oriented equity investment management. The firm was founded in 1975 and is based in Stamford, Conn. CCI is distinguished by its depth of investment management expertise, the long-term continuity of its senior professionals and its focused investment process. CCI manages assets for a diverse variety of organizations including corporate, government, endowment and foundation and Taft-Hartley funds. Successful asset management requires a focused and clearly understood investment approach. CCI's investment philosophy is simple and straightforward. It is based on the premise that companies doing better than expected will have rising securities prices while companies producing less than expected results will not. CCI refers to its discipline as positive momentum and positive surprise. CCI, therefore, focuses its research on finding positive momentum and positive surprise. In practice, CCI strives to invest in companies that exceed investors' expectations, and sell or avoid those that fall short of those expectations. Through careful analysis of company fundamentals in the context of the prevailing economic environment, CCI's team of investment professionals selects companies that meet the criteria of positive momentum and positive surprise. Historically, when a company demonstrates positive momentum and positive surprise in its business progress and thereby exceeds investors' expectations in its reported results, its stock price generally will continue on an upward trend for several months. As the company benefits from the strengths of a new product cycle, a niche technology or service, or a dominant secular trend, the stock usually continues to outperform the market. Conversely, if a company's results fall short of investors' expectations, the stock will usually underperform until new expectations are surpassed. CCI's close monitoring of a company's progress vs. expectations alerts the portfolio management team as to the best time to buy or sell a stock. Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group®. We manage $215.4 billion* in assets for clients worldwide. Our investment capabilities encompass an extensive range of equity, fixed income and real estate investments as well as specialized overlay and advisory services.
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