Item 7.01 Regulation FD Disclosure
This report is filed quarterly to disclose assets under management ("AUM") by
asset manager, prior to the availability of Principal Financial Group, Inc's
(the "Company") quarterly earnings release. The amounts presented herein will be
consistent with the format of AUM by asset manager and presented again in such
format within the Company's financial supplement for the quarter ended December
31, 2021 when that document is posted to the Company's investor relations web
site on or about February 7, 2022.
As of December 31, 2021, the assets under management by asset manager were
$546.5 billion for Principal Global Investors and $167.4 billion for Principal
International and Other Entities of Principal Financial Group.1 Principal
International and Other Entities of Principal Financial Group includes Principal
International, Principal Bank, assets managed by segments of the insurance
company and sub-advised assets within the RIS segment.
1 Effective 4Q21, $4.7 billion of AUM moved out of Principal Global Investors
and $14.1 billion of AUM moved into Principal International and Other Entities
of Principal Financial Group through Other on a prospective basis due to an
internal definition change relating to AUM and assets under administration
("AUA").
Note: During 2021, we exited our retail investment and retirement business in
India which resulted in $1.2 billion through Operations Disposed for Principal
Global Investors.
Note: Principal Global Investors delivers products and services through our
network of focused investment teams. During times of market dislocations and a
wider dispersion of returns, it is important to note our exposure to small and
mid-cap products in US equity AUM and high yield and preferred securities
exposure in fixed income AUM. Principal International and Other Entities of
Principal Financial Group includes AUM associated with Principal International
where AUM is translated to U.S. dollar equivalents using end of reporting period
spot foreign exchange rates.
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