Mark Denkinger – Principal Financial Portfolio Manager – High Income Bonds
Mark has been with Principal for 29 years and loves what he does – primarily because of the team that he works with.
63% of Principal’s revenue is generated from their Global Investor’s division, and 41% if Global Investor’s revenue is generated by fixed income investing. Principal is the 31st largest asset manager in the world, and their growth has been driven through investing for the international market. Fixed income investing is the buying, holding, trading of bonds. Mark’s team is responsible for the High Yield (or Junk Bond) portion of this asset class. High Yield indicates that the bond issuer (the borrower) has a lower credit rating.
Fixed income investing is the buying, holding, trading of bonds. Mark’s team is responsible for the High Yield (or Junk Bond) portion of this asset class. High Yield indicates that the bond issuer (the borrower) has a lower credit rating.
Mark travels the world to meet with investors to discuss the operation of Principal’s High Yield Bond portfolio. He also manages a team primarily based in Des Moines of nine analysts and two traders that develop and implement the firm’s High Yield bond investment strategy. This team manages about $10 billion holdings at this point.
Mark feels that success in this position is based on building a great team. Leading such a team is what makes his work so enjoyable. The team takes this work very seriously. They realize that they are managing people’s retirement savings.
Mark’s keys to success:
- Work hard, play hard
- Build a cohesive team – include families
- Do something you love – bring passion
- Admit mistakes
- Be flexible
- Anything worth doing is worth doing right!