Thank you.
When we think about our investment process, there might be an idea that portfolio managers are making decisions by themselves. That is actually not the case. Almost every single investment, especially in private markets, has to go through a committee—what we call the risk and investment committee—which means that once a proposal is on the table, the risk team will look at it and our legal team will look at it and our responsible investment team will look at it. We really dice and slice an investment proposal in many different ways, including with regard to geopolitical risk and national security risk.
This is actually becoming, as my neighbour said as well, more and more important in our process. Before an investment decision is made, it has been looked at from many different angles, including national security and geopolitical risk.