I notice also from looking at the published accounts for the 9th and 10th Forestry Growth Plans that they too have acquired some of the assets of the Second Forestry Investment Plan. Digging around in the accounts for the other plans, it's obvious from the "Related Party Transactions" section of the accounts notes that most if not all of the Second Forestry Investment Plan assets ended up in other IFS managed funds. I am not sure whether to be concerned about this or not - after all IFS have become a major forest manager/purchaser and there's no reason why their funds should not be customers of each other, provided disposals are being carried out at reasonable market rates, thus protecting investors at both ends of the transaction (i.e. in the disposing and the purchasing funds). However IFS does not seem to have publicised the way the second Forestry Investment Plan was distributed (or the returns achieved), at least in terms of press releases listed on its own website. I wonder if they think investors would be concerned about this?