Mr. Nick Ashmore:

The 2.4% reflects the nature of the investment of the discretionary portfolio which is split into two parts. We have what we call Irish impact investments which tend to be in alternative assets. These are higher risk, higher returning investments that are quite illiquid and which generate a greater level of return. The balance, in what we call the global portfolio, is really a low-risk, liquid reserve that is there to fund Irish investments as they arise. That generates a much lower return. The 2.4% is a composite of the two different portfolios' returns and what they have generated over the last while. That is quite different from the way we would expect to see either the Future Ireland Fund or the ICNF perform.