RE:RE:RE:RE:RE:RE:Fx Hedging Dudsywow, This has nothing to do with how your personal porfolio is structured. There is a risk that stems from the mismatch between AMCo costs on Euros and AMCo revenues in Pounds. An exact "wash" is unlikely. [I think that may have been the spot where there was an awkward silence on the conferrence call after it was said.]
The effect will be on the company's reported earnings. A 2% swing that affects your bottom line can greatly afffect a company with narrow margins.
Setting hedging policy is a strategic decision by companies and recent swings in global currencies (especially GBP/EUR rate) has brought exchange rate risk to the forefront.
Again, nothing to do with how your portfolio is diversified. It is earnings of the company that can be affected, and in some cases can be significant.
KAZ