Daniel Shrimsky

But what I want to ask you is... We need an acronym from that, though.

You're right, James.

And the proposal is they would need to have it in the scheme for two years.

Yes.

And then they can obviously take it out and

take advantage of the benefit that they've gained and they can hopefully use it to help them build wealth.

Yeah.

Look, we've spoken to both sides of government, very constructive discussions.

We're really happy with the level of interest and we will keep advocating.

This is, you know, like I do, James, these things take time, but we think there's a real place for it and we'll keep pushing, advocating.

And, you know, we're confident that it has real merit and benefit for Australians.

Yeah.

Yeah, it's a good one.

It is true.

I mean, it is true.

Pulled investments like ETFs and managed funds are the same, will distribute the income that they generate and capital gains are included there.

But look, we're very conscious of trying to run the fund as efficiently as we can.

And because we track an index, I think we're a little different.

Ultimately, we have low turnover in the portfolio.

So if you look at something like the Australian Shares ETF, VAS, which is the biggest ETF in the market, it turns over less than 5%.