We require all of our managers to have good internal governance and expect that significant regulatory breaches will be unearthed during our due diligence process. We will remove managers with regulatory issues where engagement has failed or the breach is deemed insurmountable. In our approval process we show preference for managers with a strong compliance culture and framework, and have increased awareness about environmental and social issues through the initiation of an RI DDQ. Over time, we have seen the RI practices of managers improve on aggregate. In extreme instances, we have moved away from managers in favour of those with better practices.