We are also a leading global manager of syndicated bank loans. Three of the vehicles that we manage are publicly traded corporations. "Other JurisdictionsCertain of our subsidiaries operate outside the United States. The U.K. exited the EU on January 31, 2020. The AIFMD imposes significant regulatory requirements on AIFMs established in the EEA. It is unclear at this stage whether and how AIFMD II will affect us or our subsidiaries. Certain funds in different groups may invest alongside each other in the same security. We, from time to time, incur fees, costs, and expenses on behalf of more than one fund. For more information about our fees see "Item 7. IFR/IFD represents a complete overhaul of "prudential" regulation in the EU. Compliance with these rules could involve a material cost to our business. This may increase costs or make it more difficult for us to pursue our objectives. Further, the development of the U.K.'s future legislative approach remains uncertain. In addition, the investment returns of most of our funds are volatile. Cyclicality is important to our businesses. This obligation is known as a "clawback" or contingent repayment obligation. Summary of Significant Accounting Policies" and "Note 9. These events would lead to a decrease in our revenues, which could be substantial. Hedging strategies may adversely affect the returns on our funds' investments. Dividends on shares of the Series A Preferred Stock are discretionary and non-cumulative. If the bill is accepted, the date of entry into force would be subject to discussion. Some insurers are excluding terrorism coverage from their all-risk policies.