Understanding LTR Process

Just getting started playing around with the new long term retention features in Zerto 7 and had a few questions around data processing.

From the webinar, the way I understand it to work is that when the scheduled retention process runs, the DSS process on the ZVM essentially streams the data from the journal to create a point-in-time copy of the VMs in a VPG. I understand this to be separate to the journal. Is this correct?

Second, I have a test VPG where I have retention defined as daily/weekly/monthly targeting an NFS share on a PBBA (Exagrid). I’ve run it once on schedule and once on demand so far but when I mount the NFS share on the Exagrid, I see that it’s empty. When I review the Admin Guide, it talks about a 30-day window. Am I to understand that only retention data processed by the DSS that is older than 30 days will be moved to the Exagrid? If so, where does the retention data that is <30 days live? In the same datastore as the journal for the VMs in a VPG?