Senator DI NATALE: Mr Burgess, can you tell me what the current value of the tobacco holdings in the Future Fund are? Mr Burgess : We use a definition of the MSCI-GICS category, and the current value as that 30 June is $210 million. Senator DI NATALE: Can you also tell me whether there have been additional shares purchased? Mr Burgess : I think we provided some information to 14 February; over that period shares have been sold by our managers. Just to be clear: this is all bought and sold at our manager's discretion. Senator DI NATALE: Sorry, can you just an elaborate on that point? Since the answer that you provided me on notice, you are saying that there have been shares sold but no new shares purchased? Mr Burgess : In aggregate, the number of shares have been sold. So the value has gone down, but also the number of shares have gone down on top of that. Senator DI NATALE: There have been some shares purchased and some sold, but the aggregate is fewer shares. Is that what you are saying? Mr Burgess : That is correct. Senator DI NATALE: Just a point on providing me with the answers the questions on notice: I have asked questions at estimates on a number of occasions on this issue, and every time that I have got a response on notice it has been months late. There is a requirement to provide those answers within 30 days. One of