Every sector that I look at, I have “Well, maybe good” or “Well, maybe not so good” views. One thing I do know, hedge fund assets will grow strongly. There are significant mandates being planned in Australia, and they are coming from some non-traditional sources. Hedge fund managers are hard- and soft-closing. We are now in a new world of transparency and risk, where liquidity risk within a hedge fund manager’s portfolio is a primary issue. Managers do not want to get caught in a liquidity downdraft again similar to 2008-09. Managers are matching their liquidity terms with underlying asset exposures, which is a far cry from their pre-2008 position. This strongly appeals to investors as they look to hedge their actively managed exposures to dampen volatility.