Solid Financial Performance: - Adjusted diluted EPS for Q2 2025 was $2.24, stable compared to Q2 2024 ($2.26) and Q1 2025 ($2.23). Despite challenging market conditions, the company maintained consistent earnings.

Net Outflows Challenge: - Experienced $14.9 billion in net outflows driven primarily by U.S. equities and client redemptions. However, positive flows were noted in fixed income, multi-asset solutions, and alternatives; July indicated stronger flows, suggesting potential recovery.

Retirement Solutions Growth: - The Target Date fund suite surpassed $520 billion in AUM, indicating strong demand. The company continues to explore opportunities in integrating private assets into retirement funds, recognizing the importance of the evolving regulatory landscape around private market inclusion.