Consent of Independent Registered Public Accounting Firm |
We consent to the reference to our firm under the captions “Financial Highlights” and |
“Financial Statements” in the Proxy Statement/Prospectus and “Information Incorporated |
by Reference” in the Statement of Additional Information and to the incorporation by |
reference in the Statement of Additional Information of our report dated December 17, |
2010, with respect to the financial statements and financial highlights of the SmallCap |
Value Fund, SmallCap Growth Fund, and SmallCap Blend Fund of the Principal Funds, |
Inc. in this Pre-Effective Amendment No. 1 to the Registration Statement under the |
Securities Act of 1933 (Form N-14, No. 333-178050. |
/s/ Ernst & Young LLP |
Chicago, Illinois |
December 8, 2011 |