Q116 results are consistent with our full year forecasts, towards the top end of management guidance, and we have made no material changes to our estimates. 2015 saw FVI raising capital and moving into a growth phase after several years of focusing on portfolio optimisation. It acquired a majority holding in a new subsidiary, increased participation in existing subsidiaries and directly acquired properties previously held within subsidiaries. The capital base is sufficient to support further similar significant growth that is not yet reflected in our base case forecasts.
