Ann: Appendix 4D and HY19 Financial Report, page-14

No I dont have any particular insight into the distribution strategy.
They certainly could let the results speak for themselves however to raise the money they have in the past without going through established intermediaries they have a done a great job at marketing themselves. As they point out they are now pursuing that channel with their retail product so there is plenty of upside if they get that distribution strategy right that I am not factoring into my investment case at all.

In my experience it will take them longer than they expect to gain solid flows through the financial adviser market but they are way ahead of a new manager wanting to get into the space as they have the experience the track record etc.