8 unchanged sentences
We are exposed to market risk through our investment management and distribution fees, which are generally calculated as a percentage of AUM.
−Removed: Changes in equity market prices, interest rates, credit spreads, foreign exchange rates, or a combination of these factors could cause the value of AUM to decline, which would result in lower investment management and distribution fees.
+Added: Changes in market prices, interest rates, credit spreads, foreign exchange rates, or a combination of these factors could cause the value of AUM to decline, which would result in lower investment management and distribution fees.
Our exposure to these risks is reduced as we sponsor a broad range of investment products in various global jurisdictions, which serves to mitigate the impact of changes in any particular market or region.
4 unchanged sentences
Our exposure to interest rate risks from these investments is mitigated by the low average duration exposure and a broad range of products in various global jurisdictions.
−Removed: We had no exposure to changes in interest rates from debt obligations at September 30, 2021 as all of our outstanding debt was issued at fixed rates.
+Added: We had minimal exposure to changes in interest rates from debt obligations at September 30, 2022 as substantially all of our outstanding debt was issued at fixed rates.
As of September 30, 2022, we have considered the potential impact of a 100 basis point movement in market interest rates on our investments in funds that invest in debt securities.
6 unchanged sentences
and expenses incurred denominated in foreign currencies increase.
−Removed: The exposure to foreign currency exchange risk in our consolidated balance sheet mostly relates to cash and cash equivalents and investments that are denominated in foreign currencies, primarily in the Euro, Pound Sterling, Indian Rupee, Canadian dollar and Australian dollar.
+Added: The exposure to foreign currency exchange risk in our consolidated balance sheet mostly relates to cash and cash equivalents and investments that are denominated in foreign currencies, primarily in the Euro, Indian Rupee, Pound Sterling and Australian dollar.
These assets accounted for 19% of the total cash and cash equivalents and investments at September 30, 2022.
3 unchanged sentences
dollar assets.
−Removed: Such a weakening as of September 30, 2021 would result in a $93.4 million increase in accumulated other comprehensive income and a $29.7 million decrease in pre-tax earnings.
+Added: Such a weakening as of September 30, 2022 would result in a $109.1 million decrease in accumulated other comprehensive loss and a $19.9 million decrease in pre-tax earnings.
We generally do not use derivative financial instruments to manage foreign currency exchange risk exposure.
13 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.