Has that surprised you in any way, Manas?

Not really, right? I mean, when you have billions of dollars to invest, I think you look at it from an opportunity point of view.

I mean, obviously, there's elements to the story where there's real human lives at stake.

I mean, obviously, the geopolitical tensions.

I mean, to all our listeners in the Middle East, we're thinking about them.

And it has been a rather tough time this year.

But if you look at that... uh fragmentation or that we were discussing from a lot of allocators perspective they do see it as an opportunity to to to invest in in good managers and when things stop moving together and you obviously have a fragment a fragmentation of sorts it uh it's more it's sort of more good for a good manager to to to pick apart to to actually work with i think when uh you and i have discussed this over the last i mean 10 years that we've known each other almost There was time when I had joined, when I started working on these research pieces 10 years ago.

So would it be fair to say that investors now are looking at hedge funds as a portfolio construction tool rather than just another asset class?