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For example, healthcare, medical access and Senior Housing and similar to what tonya was discussing on the private equity side, those sectorfocused funds, we think, you know, our data has shown that those sectorfocused funds have generated more than the diversified funds and also gives us and staff the ability to tail tailor the portfolio more than we could if we were looking at diversified funds. Thats an interesting tabernacledynamic,maybe a benefe market. That isnt to say moving away from the funds and theres approaches to having both on the portfolio works pretty well and some of those diversified managers have proven to be good at pivoting from one sector to another and much more nimble than we could in terms of allocating a specialfocused fund. So i think the combination is attractive. Just touching on the market environment, i dont want to spend too much time but similar to private equity and most asset classes, real estate ....
We are not in a position where some public Pension Plans are paying out 5 . We have a better illiquidity for that. The payoff for that return is on page 19 of the cambridge report. There is a powerful positive cash flow driver when you start in year 2 2022. I wanted to explain the rationale for the strategy. I will turn it over to the board for questions. This is not an action item. Is there Public Comment . I have been coming to meetings over two years and listened to the mum bow jumbo. All of the people are all active money managers. How communevehowhow come there e from vanguards, price. You get more information over the long. I just told you that vanguard, s p 500 in the last 30 years, less than 1 of the s p 500. My recommendation is start inviting passive money managers, and i think your outlook on investing will change. That concludes item nine. Item 10. We are probably ....
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