Business Context and Reporting Period
This Form 8-K is a Regulation FD disclosure filed by Principal Financial Group, Inc. on October 18, 2022. The report provides Assets Under Management (AUM) data by asset manager for the quarter ended September 30, 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: $449.4 billion
- Other Entities of Principal Financial Group AUM: $158.2 billion
Note: "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 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 September 30, 2022, expected to be posted on the investor relations website on or about October 27, 2022.
Investor Verification Checklist
- Verify the total AUM figures ($449.4 billion and $158.2 billion) against the upcoming quarterly earnings release and financial supplement expected on October 27, 2022.
- Review the detailed breakdown of "Other Entities" to understand the specific contribution of Principal International and insurance segments.
- Assess the impact of the noted exposures (small/mid-cap equities and high yield/preferred fixed income) on portfolio performance given current market conditions.
- Confirm the foreign exchange rates used for translating Principal International AUM to U.S. dollars.