Business Context and Reporting Period
This Form 8-K is a Regulation FD disclosure filed by Principal Financial Group, Inc. on April 19, 2022. The report provides Assets Under Management (AUM) data by asset manager for the quarter ended March 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.
- Total AUM (Principal Global Investors): $537.4 billion
- Total AUM (Other Entities): $176.9 billion
- Combined AUM: $714.3 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 rates.
Material Changes
Effective in the first quarter of 2022, $18.6 billion of AUM was reclassified into Principal Global Investors. This shift resulted from the integration of the Institutional Asset Advisory team through Operations Acquired.
Outlook, Risks, and Management Commentary
Management highlighted specific portfolio exposures relevant during market dislocations and 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 March 31, 2022, expected to be posted on or about April 28, 2022.
Investor Verification Checklist
- Verify the upcoming quarterly earnings release and financial supplement (expected ~April 28, 2022) for comprehensive financial results beyond AUM.
- Confirm the impact of the $18.6 billion AUM reclassification on segment reporting in future filings.
- Review the company's specific exposure to small/mid-cap equities and high-yield fixed income in the context of current market volatility.
- Note that this filing does not contain revenue, earnings, or cash flow data.