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Thank you So_Cynical, I saw that but missed the importance of it. I had intended to look at what Wilson was investing into. I did that with WAM when it first started and wasn't massively impressed with his choices. It will be much harder if not totally impossible to find out where the money is being put which means there is absolutely no transparency. I always like to look at what LICs and ETFs hold. I don't like a bloody pig in a poke. Thanks again So_Cynical, that was very helpful.