The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Tom Mills - Jefferies Financial Group, Inc. - Analyst
: Hey, good morning, guys. Thanks very much for the presentation. I just had a couple of questions around fundraising, really. Firstly, and I appreciate
you've only just IPO'd the forestry business so I might be jumping the gun a little bit here, but just to get a longer-term idea of your ambitions. Do
you think that that strategy can ultimately scale to be one of a similar size to sort of JLEN and FSFL? That would be the first question.
And then secondly, I think you guys have also been doing pretty well on the tax advantage products there, and, obviously, the fee margins there
are pretty attractive. Can you just give an idea about how you're seeing demand trends for those involved at the moment as well? That would be
great. Thanks very much.
Question: Tom Mills - Jefferies Financial Group, Inc. - Analyst
: That's great. Thanks very much, Bernard and Gary. Cheers.
Question: Andrew Shepherd-Barron - Peel Hunt LLP - Analyst
: Great. Good morning, and, yes, thank you very much indeed. A couple of questions from me too. One is on fundraising as well, which is, could you
talk a little bit more about retail distribution -- well, total distribution into Europe? How you think -- how you're how doing it and how quickly you
think that can scale.
And then a second question from me on M&A. Where do you think is the sort of hottest prospects for you? Is there availability? Are prices crazy?
Anything you could add? Thanks.
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DECEMBER 09, 2021 / 9:00AM, FSGF.L - Interim 2022 Foresight Group Holdings Ltd Earnings Call
Question: Andrew Shepherd-Barron - Peel Hunt LLP - Analyst
: Okay, great. Thank you very much.
Question: David McCann - Numis Securities Ltd. - Analyst
: Yeah, morning, everyone. And just a couple of questions. One, I guess following on from the last question. I'll start with that one that, yes, you've
-- obviously, a part of the strategy, you have mentioned that acquisitions remain very much part of the agenda here. But obviously, to date, you
haven't transacted any since you've been listed. So just really getting a sense of is that still something that you're looking at, kind of the areas of
interest? That would be just helpful. I guess that's the first question.
And then secondly, and I mean, it sounds like you've got absolutely plenty of stuff to do with your existing strategies and so forth. You're already
-- you have GBP6 billion or GBP8 billion, depending upon how you count the numbers. So yes, the group is still -- you have plenty to get on with.
But I'm also interested, you said in there that you've been identifiers of the next kind of big thing, particularly in sustainable.
I mean, so if we look forward in five years' time, what do you think the equivalent of forestry is going to be in three to five years' time? What is most
exciting at the moment?
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