Asset manager Principal Global Investors has launched a diversified fund to invest in private real assets.

The Principal Diversified Select Real Asset (DSRA) fund, the manager’s first interval fund, will primarily invest in assets, including infrastructure, natural resources, and real estate.

The closed-ended fund is structured as an interval fund, which means it conducts quarterly repurchase offers of no less than 5% of the fund’s outstanding shares at net asset value, the manager said.

Mike Beer, executive director of Principal Funds, said: “This launch reflects Principal’s commitment to meeting growing client interest and demand for products that offer access and exposure to diversifying private assets.

“Throughout 2019, we have encouraged clients and investors to reevaluate risk within their portfolios. Offerings like DSRA are designed to help investors address market uncertainty and volatility.”