Amongst the domestic shares, the Q3 results season saw an even wider gap between winning and losing businesses. The weak economy resulted in a larger number of domestic counters reporting results below market expectations. In this environment, stock picking remained critical. The winning businesses held in the portfolio prospered despite the tough domestic economy. OUTsurance is an example of a business that has reported exceptional results since the June quarter. OUTsurance has a strong emphasis on providing good value to consumers through disciplined, scientific underwriting, combined with a strong focus on cost efficiency. This has enabled OUTsurance to build sizeable and profitable businesses across SA and Australia. We expect OUTsurance to continue gaining share across these markets.