Q: What characteristics do you look for in a natural capital fund manager before committing capital? Q: How do you balance the long-term sustainability benefits of natural capital investments against clients’ return and liquidity expectations? On natural capital, two challenges need to be acknowledged: the benefits of natural capital are widely shared, which is hard to capture in metrics. Q: Do you see natural capital becoming a strategic portfolio allocation in its own right, or remaining a niche thematic exposure? Samriddhi Sharma: Our research highlights that natural capital is a resilient, strategic allocation rather than a niche.