Business Context and Reporting Period
This Form 8-K is a Regulation FD disclosure filed by Principal Financial Group, Inc. on October 17, 2023. The report provides Assets Under Management (AUM) data for the quarter ended September 30, 2023, prior to the release of the company's quarterly earnings.
Key Financial Metrics
The filing focuses exclusively on AUM figures and does not provide data on revenue, profit, cash flow, margins, debt, or liquidity.
- Total AUM (as of Sept 30, 2023): $650.6 billion
- Principal Global Investors AUM: $469.0 billion
- Principal International AUM: $168.4 billion (translated to U.S. dollars)
- Principal Asset Management AUM: $506.9 billion (defined for marketing purposes, excluding minority-owned entities and regulatory exclusions)
Material Changes
The filing text does not provide comparative data for the prior period; therefore, material changes versus the prior comparable period cannot be determined from this document.
Outlook, Commentary, and Risks
Management commentary highlights the company's exposure to specific asset classes during market dislocations, noting significant positions in small and mid-cap U.S. equity products, as well as high yield and preferred securities in fixed income. The report clarifies that Principal Asset Management AUM is intended for marketing purposes and should not be used for financial modeling. No specific guidance, risks, or contingencies beyond the standard AUM disclosure are detailed in this filing.
Investor Verification Checklist
- Verify the upcoming quarterly earnings release scheduled for approximately October 26, 2023, for detailed financial performance metrics.
- Confirm the reconciliation between Total AUM ($650.6 billion) and Principal Asset Management AUM ($506.9 billion) in the financial supplement to understand excluded assets.
- Review the impact of foreign exchange rates on the $168.4 billion reported by Principal International.
- Assess the risk profile associated with the disclosed exposure to small/mid-cap equities and high-yield fixed income.