Mr. Nick Ashmore:

On the Chairman's final question in regard to the managers to whom we have deployed capital, we run a good monitoring process around our managers. We have substantial investors in respect of whom we work with our managers, in particular in regard to what they are up to on a monthly basis in the context of the changing mandate. These are the first examples of what we are doing and we need to ensure they are working, that the managers are getting everything right and that if there are any problems we can step in and sort them out as quickly as possible.