​So I think in the near term we have to be a bit more cautious about the market returns. In contrast, the medium term outlook is distinctly positive, things like the capex cycle recovery, the real estate recovery, the China plus one development as far as industrial outsourcing is concerned, all these factors make the clear outlook much more positive. But that is tempered by the fact that I think the next six to 12 months we have to be a bit more careful or moderate about return expectations.

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