‘We haven’t yet talked about it in the investment committee.’ (Meaning: Don’t blame me!) ‘Our lawyers are still going over the prospectus and may not get to it in time.’ (I am looking at more interesting funds I might actually invest with.) ‘We just need to see how you get on in the early days.’ (We don’t want to be the only jokers to give you money!) ‘We really want to give you money, but we already have so much exposure to European managers.’ (No chance!)
