Mr. Pat Lardner:

If one wants to invest in a fund and wants to have exposure to emerging economies in the Far East, it is reasonable to assume that some of the expertise required to do that may not necessarily sit in Ireland. An Asia-based manager or US-based manager may be used instead. The whole idea is that delegation is used so that the right expertise can be used.

We have been very active in our promotional activity. We have done over 30 events around the world this year. The investment limited partnership legislation is key, not only to firms in Limerick but also around the country, because a lot of investment goes through English investment limited partnerships, and we foresee that if we can get our own legislation updated - we are very happy to work with this committee and Government to help do that - it would improve our toolkit and mean that we can hopefully ensure more activity and more employment.