Aradhna Dayal: We’re seeing early signs of the emergence of Singapore-domiciled funds. Can this really be a viable option to, say, a Cayman-domiciled structure and are you considering it for your strategies?
|Whether a domicile such as Singapore, which has obviously got a beneficial tax regime, is seen as more acceptable than Cayman remains to be seen|
Mike Coleman: I thought it was an interesting development and in theory there is no reason why it should not work. However, the Cayman structure is well established, people think they know how it works...