Ms Imelda Hurley:

I am very happy to explain the rationale. Our interest in the Irish strategic forestry fund is very much around enabling new forests, so afforestation. In terms of setting up a fund the types of investors that are being attracted and are needed are long-term investors and, therefore, they are normally pension funds. Effectively as part of the risk management of any fund in forestry, we would look for a distribution of age classes so not just new forests but also looking to have some immature forests so that the pension fund can ultimately get a return on an annual basis.