Business Context and Reporting Period
This Form 8-K is a Regulation FD disclosure filed by Principal Financial Group, Inc. on April 20, 2023. The report provides Assets Under Management (AUM) data for the quarter ended March 31, 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.
| Asset Manager | AUM (as of March 31, 2023) |
|---|---|
| Total Principal Financial Group | $659.9 billion |
| Principal Global Investors | $478.7 billion |
| Principal International | $167.1 billion |
Note: Principal International's AUM is translated to U.S. dollar equivalents using end-of-period spot foreign exchange rates.
Material Changes
The filing text does not provide comparative data for the prior period; therefore, material changes in AUM versus the prior comparable period cannot be determined from this document.
Outlook, Risks, and Management Commentary
Management highlighted specific portfolio exposures relevant during times of market dislocation and wider dispersion of returns:
- US Equity AUM: Exposure to small and mid-cap products.
- Fixed Income AUM: Exposure to high yield and preferred securities.
The company indicated that these AUM figures will be presented again in the financial supplement for the quarter ended March 31, 2023, expected to be posted on or about April 28, 2023.
Investor Verification Checklist
- Verify the full quarterly earnings release and financial supplement expected on or about April 28, 2023, for revenue and profit metrics.
- Confirm the specific performance of small/mid-cap equity and high yield/preferred fixed income segments in the upcoming earnings report.
- Review the prior quarter's AUM data to calculate the period-over-period change, as this 8-K does not include historical comparisons.