Principal Financial Group reported $206 billion in assets under management for the second quarter, an increase of less than 1% from the previous quarter but a 14% boost over the previous one-year period, according to a company news release. Net flows into the company's Principal Global Investors and Principal International businesses were partially offset by depreciation in the equity markets during the quarter.
The company cited its international and third-party institutional business as reasons for the growth over the last year, as well as an increase in its domestic asset accumulation businesses. For the quarter, Principal also reported net income available to stockholders of $210.5 million, a 26% decrease from the first quarter and a 12% decrease from the second quarter 2005.
