 I've had quite a diverse career actually, approximately 30 years in the business as both a senior portfolio manager in the large end of town, managing billions in the fixed income space and then as a proprietary interest rate trader for a US bank, oh I've been through possibly every period of volatility that anyone investor could possibly imagine or remember over the last 30 years from from wars and bull markets and bear markets and crises etc etc. MIPS is the acronym for Managed Income Portfolio Service. We are specialist investors in the Australian corporate bond market and deliver program investment structures in the in independently managed account form taking advantage of the direct bond and debt origination services of fixed securities to deliver highly yielding and highly diversified exposures to investors that emanate in significant outperformance. MIPS does not charge a spread on any of the trades that are actions. We look to seek the best price for our clients and the clients receive the full benefit of that price of this full pass through of price. They need professional management, market is difficult, market is volatile. You need expertise, you need experience, you need to know the moves to make and when to make them. The securities that MIPS favour are often common across all investment programs and we can aggregate this demand and access the wholesale or institutional market in order to achieve efficient pricing and achieve great returns. I don't deny that some investors are quite good at this and have sufficient time to investigate all the information required to make appropriate decisions. However replicating the size of my team would be difficult and the expertise and experience would be quite difficult and I suggest that in professionals hands your returns are likely higher.