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and injersey? because what i said was that, which i mentioned earlier, is that the clients of large endowments worldwide, that's where they wanted to be. let's take a bigger picture and look now at how you run the fund. the fund has massive stakes in oil and gas companies around the world, i think still to the tune of some $27 billion. now, post—glasgow, cop26 and the urgent need to decarbonise the world economy, are you sending a message that you will divest from oil and gas? no, we are not, and i'll tell you why — in 2019, the oil fund divested the pure upstream oil companies. now, that was not for ethical reasons, that was because we wanted to have diversification risk, because the nation is so dependent on oil

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