I recall clearly some comments made during the live webcast of...

I recall clearly some comments made during the live webcast of the annual results presentation as at 30 June 2010. Bearing in mind the webcast occurred during August 2010 (Not that long ago).

Marty McCarthy (European CEO) was asked about the next 6 months ahead in Europe and what we should expect. His response were words to the effect of "on the back of our recent success securing Euro$350 Million funds management mandates we expect to continue securing more portfolio management deals with large European fund managers. We are also working on a new fund roll out of aproximately Euro$500 Million which will look to be deployed into new projects as Europe recovers".

He went into say that the expected timing of this new fund was late 2010 to early 2011.

I believe considerable effort and progress is being made in Europe to deliver this new fund however I wonder if this will be taken into account in any MBO proposal. As a minimum I am hoping for a status update on this important fund for VPG in the half yearly. If they are completely silent on the subject then I will be treating that with the suspicion it deserves.