1 unchanged sentence
Our primary exposure to market risk is the indirect impact that movements in the fair value of investments in products has on our management fees.
−Removed: In our Credit products, our management fees are generally based on the fair value of the gross assets held by such products, and therefore changes in the fair value of those assets impacts the management fees we earn in any given period.
+Added: In our Credit products, our management fees are generally based on the fair value of the gross assets held by such products, and therefore changes in the fair value of those assets impact the management fees we earn in any given period.
These management fees will be increased (or reduced) in direct proportion to the effect of changes in the market value of our investments in the related funds.
14 unchanged sentences
We generally endeavor to minimize our risk of exposure by limiting to reputable financial institutions the counterparties with which we enter into financial transactions.
−Removed: As of September 30, 2023 and December 31, 2022, we held the majority of our cash balances with a single highly rated financial institution and such balances are in excess of Federal Deposit Insurance Corporation insured limits.
+Added: As of March 31, 2024 and December 31, 2023, we held the majority of our cash balances with a single highly rated financial institution and such balances are in excess of Federal Deposit Insurance Corporation insured limits.
We seek to mitigate this exposure by monitoring the credit standing of these financial institutions.
See “Item 1A.
−Removed: Risk Factors — Risks Related to Macroeconomic Factors” in our Annual Report and “Item 1A.
−Removed: Risk Factors — Difficult market and political conditions may reduce the value or hamper the performance of the investments made by our products or impair the ability of our products to raise or deploy capital” in our quarterly report on Form 10-Q for the quarter ended March 31, 2023.
+Added: Risk Factors — Risks Related to Macroeconomic Factors” in our Annual Report.
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.