Dominic Lindley: Certainly a lot of with-profit schemes, and even with-profit schemes that were supposed to be run in the best interests of members—Equitable Life, for example—made a big mistake in not reserving for the guarantees that they had offered to members, and then got into significant difficulty. Other with-profits funds such as Prudential have delivered very good long-term returns with smoothing. The real difficulty came when the initial company that set up the with-profits fund sold it on to a consolidator who started to run the fund more in their interest than the interest of consumers. As those funds are closed to new members, they are not interested in attracting new members, which pushes down the performance. Funds such as Prudential are still open and interested in attracting new members.