ANCHOR OFF-CAMERA ENGLISH SAYING

So I guess the argument would be why not just invest in companies based in the US that are doing business in China? Because some of these companies, it's not like they're returning cash to holders. There's not dividends or share buybacks. So how is this advantageous?

BRENDAN AHERN, MANAGING DIRECTOR, KRANESHARES, (ENGLISH) SAYING

Yeah, I mean, first and foremost, I think there's a lot of the US multinationals do play a part within China and broader Asia. But the Chinese companies are the ones that are really benefiting. This is a closed economy and there is a huge preference by the government which actually owns a lot of these companies to see them benefit, and to give that away to foreigners would not be in their own best interest. So shareholders, I think, investors need to be focused on a lot of these Chinese domiciled companies that are listed overseas.

ANCHOR OFF-CAMERA ENGLISH SAYING

You're focusing on some Internet names as well.

BRENDAN AHERN, MANAGING DIRECTOR, KRANESHARES, (ENGLISH) SAYING

Within the technology space, if you look at the ADR performance of names like Perfect World and YY, they've been up over 100%. Baidu is up, better than 30%. So can you really have this kind of gains going forward? I mean should investors expect that or is that a little bit overdone? Yeah, I mean, the CAGR of the Internet group in China has grown at 120% each of the last 10 years. Now with that said, only 120 million Chinese have access to broadband Internet. Another 400 million access the Internet via wireless, mobile Web. So you're actually looking at a very small penetration to this technology sector by the broader population. As that population adapts and basically accepts that technology, we think there's good days ahead as well.