Business Context and Reporting Period
This Form 8-K is a Regulation FD disclosure filed by Principal Financial Group, Inc. on January 18, 2023. The report provides Assets Under Management (AUM) data as of December 31, 2022, 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.
- Principal Global Investors AUM: $464.7 billion
- Other Entities AUM: $170.6 billion
- Total AUM Disclosed: $635.3 billion
"Other Entities" includes Principal International, Principal Bank, insurance segment assets, and sub-advised assets within the RIS segment. International AUM is translated to U.S. dollars using end-of-period spot foreign exchange rates.
Material Changes
The filing text does not provide comparative AUM figures for the prior period; therefore, material changes 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 return dispersion:
- US Equity AUM: Exposure to small and mid-cap products.
- Fixed Income AUM: Exposure to high yield and preferred securities.
The company noted that these AUM figures will be presented again in the financial supplement for the quarter ended December 31, 2022, expected to be posted on or about January 30, 2023.
Investor Verification Checklist
- Verify the full quarterly earnings release and financial supplement expected on or about January 30, 2023, for revenue and profitability metrics.
- Confirm the breakdown of the $170.6 billion "Other Entities" AUM to understand the specific contribution of Principal International and insurance segments.
- Assess the impact of the noted small/mid-cap equity and high-yield fixed income exposures on current market volatility.