{"annotation_id":"44499b55-07d9-4d61-9436-7191da6ed606","file_hash":"d8ae958cf761b8de7fca366ac29fd58b15ac27149f644d715c35480d5ba67fa4","schema_id":"open/document-extraction","schema_version":"0.5.0","record":{"extraction_type":"boxes","producer":"pdf-extractor-v0.5.0","blocks":[{"id":"8c2206a7-003a-452f-86f0-ee942ac4f93e","block_type":"box","text":"MARKETING COMMUNICATION  |","page_number":1,"box":{"x":31,"y":22,"width":164,"height":8}},{"id":"c180d599-541e-4015-8fd2-854e593ece8d","block_type":"box","text":"Factsheet  |  31 August 2026","page_number":1,"box":{"x":203,"y":22,"width":141,"height":8}},{"id":"fcfccc94-d4c3-4942-ae5d-ee1d4ed457b3","block_type":"box","text":"The Mercantile Investment Trust plc","page_number":1,"box":{"x":31,"y":59,"width":579,"height":22}},{"id":"7738c8f4-ad45-43e6-b6a0-fb6b6ebcd6b3","block_type":"box","text":"ISIN","page_number":1,"box":{"x":36,"y":94,"width":24,"height":7}},{"id":"fea38701-0918-426f-a09a-274177e57259","block_type":"box","text":"GB00BF4JDH58","page_number":1,"box":{"x":67,"y":94,"width":98,"height":7}},{"id":"7171f62a-89e7-469f-a498-bc743d77f677","block_type":"box","text":"Sedol","page_number":1,"box":{"x":229,"y":94,"width":34,"height":7}},{"id":"2cdffdc1-a65c-4c8c-a48c-848221009183","block_type":"box","text":"BF4JDH5","page_number":1,"box":{"x":270,"y":94,"width":54,"height":7}},{"id":"93d6cf64-4ba5-4c22-a3d2-2998dc96d488","block_type":"box","text":"Bloomberg","page_number":1,"box":{"x":423,"y":94,"width":67,"height":9}},{"id":"7b89db17-a717-430d-af93-102225a1d47d","block_type":"box","text":"MRC LN","page_number":1,"box":{"x":497,"y":94,"width":45,"height":7}},{"id":"647a8131-b57e-49a1-b471-fa90c6129472","block_type":"box","text":"Reuters","page_number":1,"box":{"x":616,"y":94,"width":48,"height":7}},{"id":"5c763f61-4a60-4764-bb3c-1be7a58148e2","block_type":"box","text":"MRCM.L","page_number":1,"box":{"x":670,"y":94,"width":49,"height":7}},{"id":"823df38b-98ab-42b3-8ff0-7b7d596f418d","block_type":"box","text":"Objective:","page_number":1,"box":{"x":35,"y":126,"width":76,"height":11}},{"id":"b5cfc170-be86-4653-ab15-e7508f37b5cb","block_type":"box","text":"The Company aims to achieve long","page_number":1,"box":{"x":36,"y":142,"width":207,"height":9}},{"id":"20f148c5-351b-45bb-b8f6-271118aa5fe2","block_type":"box","text":"-","page_number":1,"box":{"x":245,"y":146,"width":4,"height":1}},{"id":"4df7da08-9e0e-4b6d-89a6-97a01720ab1d","block_type":"box","text":"term capital growth through investing","page_number":1,"box":{"x":249,"y":142,"width":228,"height":9}},{"id":"4c0cda70-9e7a-4457-827e-8dfeb4f58e0b","block_type":"box","text":"in a diversified portfolio of UK medium and smaller companies. It pays","page_number":1,"box":{"x":37,"y":153,"width":418,"height":9}},{"id":"b1fd3c4d-a7ef-4998-99d8-47deba240b85","block_type":"box","text":"quarterly dividends and aims to grow its dividend at least in line with","page_number":1,"box":{"x":36,"y":165,"width":410,"height":8}},{"id":"01e81337-0671-4878-803f-24787443f8ee","block_type":"box","text":"inflation. The Company","page_number":1,"box":{"x":37,"y":176,"width":137,"height":8}},{"id":"d343f557-0857-4fdb-b8f8-d5f7f9128287","block_type":"box","text":"’","page_number":1,"box":{"x":175,"y":176,"width":2,"height":2}},{"id":"d9576c7a-aeed-464a-b51b-6bb54e4e980d","block_type":"box","text":"s gearing policy is to operate within a range of 10%","page_number":1,"box":{"x":178,"y":176,"width":300,"height":8}},{"id":"897d36df-748f-4400-b45d-8c6faa23503f","block_type":"box","text":"net cash to 20% geared. Gearing may magnify gains or losses","page_number":1,"box":{"x":37,"y":187,"width":370,"height":9}},{"id":"ad299ad1-06f0-4a43-9ff3-a31c995fccd3","block_type":"box","text":"experienced by the Company.","page_number":1,"box":{"x":36,"y":198,"width":178,"height":9}},{"id":"88c1ffa0-74fb-4d92-a7e7-0ab14754e64f","block_type":"box","text":"Company ratings","page_number":1,"box":{"x":33,"y":643,"width":137,"height":11}},{"id":"e552a281-7835-45c2-af71-51b75d96cc95","block_type":"box","text":"Performance","page_number":1,"box":{"x":33,"y":705,"width":103,"height":9}},{"id":"f639352b-ec93-451b-8aad-70f7d47008c6","block_type":"box","text":"Cumulative performance (%)","page_number":1,"box":{"x":32,"y":766,"width":164,"height":8}},{"id":"c8081ba9-ced4-4935-be1f-37bf5f650de6","block_type":"box","text":"Cumulative","page_number":1,"box":{"x":133,"y":778,"width":72,"height":7}},{"id":"59943245-f6ad-4a68-a5ef-c1b81b2443b7","block_type":"box","text":"Annualised","page_number":1,"box":{"x":360,"y":779,"width":72,"height":6}},{"id":"5f9b858e-d8cb-40df-9929-94651bf1be4a","block_type":"box","text":"1 month","page_number":1,"box":{"x":63,"y":791,"width":50,"height":6}},{"id":"009795a8-e2ef-4851-ad23-8b097cde3f3c","block_type":"box","text":"3 months","page_number":1,"box":{"x":125,"y":790,"width":59,"height":7}},{"id":"ff20acd5-aa5e-4eee-ba6f-a172fe4e30c7","block_type":"box","text":"1 year","page_number":1,"box":{"x":195,"y":791,"width":36,"height":8}},{"id":"0cffe0d0-86be-43db-8dce-a8845361e1f1","block_type":"box","text":"YTD","page_number":1,"box":{"x":248,"y":791,"width":24,"height":6}},{"id":"d91212b9-d692-4e62-abc7-123e3de67fe5","block_type":"box","text":"3 years","page_number":1,"box":{"x":315,"y":790,"width":44,"height":9}},{"id":"a01606a9-3b14-4d60-9ff9-ecfb2e940aac","block_type":"box","text":"5 years","page_number":1,"box":{"x":380,"y":791,"width":45,"height":8}},{"id":"19176c13-d7fc-48dc-bf13-d24c38290550","block_type":"box","text":"10 years","page_number":1,"box":{"x":436,"y":790,"width":51,"height":9}},{"id":"bd2db2ad-aeef-4974-be90-663b294b7023","block_type":"box","text":"4.52","page_number":1,"box":{"x":76,"y":802,"width":25,"height":7}},{"id":"a7f9f4d7-d8b3-455e-8123-99adb18e5237","block_type":"box","text":"8.49","page_number":1,"box":{"x":142,"y":802,"width":24,"height":7}},{"id":"750dac4c-c136-43ce-ba13-8ed52fde7809","block_type":"box","text":"20.37","page_number":1,"box":{"x":197,"y":802,"width":33,"height":7}},{"id":"6a41182f-7ae3-4809-8f7d-80a87d7c6d94","block_type":"box","text":"14.51","page_number":1,"box":{"x":248,"y":803,"width":26,"height":6}},{"id":"3e691403-588c-45a6-9faa-c0a5991b6d85","block_type":"box","text":"17.49","page_number":1,"box":{"x":323,"y":802,"width":28,"height":7}},{"id":"13c1f5f1-5474-45df-957e-04896de6ad73","block_type":"box","text":"3.42","page_number":1,"box":{"x":391,"y":802,"width":24,"height":7}},{"id":"1c62f6cd-c447-4d9c-8be6-313b1cf54f76","block_type":"box","text":"8.99","page_number":1,"box":{"x":449,"y":802,"width":25,"height":7}},{"id":"11e6ee87-952e-43a6-91e9-a19f7a1a7381","block_type":"box","text":"4.84","page_number":1,"box":{"x":76,"y":815,"width":25,"height":6}},{"id":"8af172ec-9ecf-47f6-b986-3f958b93b683","block_type":"box","text":"8.77","page_number":1,"box":{"x":143,"y":815,"width":22,"height":6}},{"id":"79fd0ecf-d114-4e61-9a11-074c3a580c89","block_type":"box","text":"20.23","page_number":1,"box":{"x":196,"y":815,"width":33,"height":6}},{"id":"31abd52a-bd5d-4201-a5b4-6365c83ab80a","block_type":"box","text":"15.05","page_number":1,"box":{"x":245,"y":815,"width":31,"height":6}},{"id":"e2e35ac5-fbc8-45ef-8038-07b0d0874068","block_type":"box","text":"15.10","page_number":1,"box":{"x":323,"y":815,"width":28,"height":6}},{"id":"1845508e-e8f8-47d4-bdb4-97082bcc89ca","block_type":"box","text":"3.52","page_number":1,"box":{"x":391,"y":815,"width":24,"height":6}},{"id":"bf48aaa1-430d-4c78-9ea3-e3ad05241e48","block_type":"box","text":"8.70","page_number":1,"box":{"x":449,"y":815,"width":24,"height":6}},{"id":"41800422-13f0-446e-b8a3-4f788ec59c18","block_type":"box","text":"4.69","page_number":1,"box":{"x":76,"y":827,"width":25,"height":6}},{"id":"4cc87be5-d7ad-4392-af55-a34e10e5ccb9","block_type":"box","text":"8.80","page_number":1,"box":{"x":142,"y":827,"width":25,"height":6}},{"id":"aecb7a66-59d4-4e3d-8de9-054ab94ed76f","block_type":"box","text":"19.27","page_number":1,"box":{"x":199,"y":827,"width":28,"height":6}},{"id":"bf212bb1-23a0-4f08-8eae-c8c748f59f7b","block_type":"box","text":"13.75","page_number":1,"box":{"x":246,"y":827,"width":28,"height":6}},{"id":"ab3ddab4-0187-4bf6-86e2-d224321e2f82","block_type":"box","text":"14.40","page_number":1,"box":{"x":322,"y":827,"width":30,"height":6}},{"id":"16d16398-2b64-47fd-b7ce-afb31847b750","block_type":"box","text":"3.89","page_number":1,"box":{"x":391,"y":827,"width":24,"height":6}},{"id":"b941d040-dc2f-423c-bcca-ed45358019c3","block_type":"box","text":"6.33","page_number":1,"box":{"x":449,"y":827,"width":25,"height":6}},{"id":"3b0d567a-2742-4ef9-94b1-7a8084506c64","block_type":"box","text":"Portfolio manager(s)","page_number":1,"box":{"x":35,"y":227,"width":119,"height":9}},{"id":"dddb6898-d555-48fd-b38a-113ab9478bfe","block_type":"box","text":"Share price","page_number":1,"box":{"x":179,"y":227,"width":68,"height":9}},{"id":"056e610c-c3f5-46d1-a938-054542c11a00","block_type":"box","text":"Actual gearing","page_number":1,"box":{"x":301,"y":227,"width":85,"height":9}},{"id":"29041feb-8dbf-4924-8198-6f07d207bc7b","block_type":"box","text":"Guy Anderson (2012)","page_number":1,"box":{"x":35,"y":238,"width":122,"height":9}},{"id":"ee78a25e-8f80-4f5a-8623-80ed19f89e23","block_type":"box","text":"Anthony Lynch (2012)","page_number":1,"box":{"x":34,"y":250,"width":127,"height":8}},{"id":"3083f046-7e84-470f-8d73-a24f04808eab","block_type":"box","text":"289.0p","page_number":1,"box":{"x":179,"y":238,"width":42,"height":9}},{"id":"462cffef-cb75-42ce-87db-883666a42930","block_type":"box","text":"15.6%","page_number":1,"box":{"x":301,"y":238,"width":33,"height":7}},{"id":"4a82b1e7-4fde-498c-9840-e6601cc23634","block_type":"box","text":"Company Broker(s)","page_number":1,"box":{"x":35,"y":266,"width":110,"height":9}},{"id":"2bb747bf-1d88-4fcc-99ce-8e73306bef65","block_type":"box","text":"NAV","page_number":1,"box":{"x":180,"y":266,"width":25,"height":7}},{"id":"d35475fb-d3f6-43b9-8b87-374f8d871419","block_type":"box","text":"Company fees & expenses","page_number":1,"box":{"x":301,"y":266,"width":153,"height":9}},{"id":"935cd5d3-62b7-46dd-bd02-bafd224fffde","block_type":"box","text":"Ongoing Charges","page_number":1,"box":{"x":301,"y":277,"width":101,"height":9}},{"id":"681f7f26-10a5-4a1a-9cad-b48b60b8d5bf","block_type":"box","text":"Peel Hunt / Winterflood","page_number":1,"box":{"x":36,"y":288,"width":138,"height":7}},{"id":"5f6c8439-2a0b-457f-9159-a44022909fe8","block_type":"box","text":"Securities","page_number":1,"box":{"x":35,"y":299,"width":61,"height":7}},{"id":"140a8576-9756-45a8-98bb-f72ebb5aab9d","block_type":"box","text":"321.0p","page_number":1,"box":{"x":179,"y":288,"width":39,"height":9}},{"id":"580ace1d-76e0-4d22-9e71-53531e1ff9cd","block_type":"box","text":"0.48%","page_number":1,"box":{"x":301,"y":288,"width":36,"height":7}},{"id":"daf59f75-0e8f-4d2f-9f36-6efa10b6ceed","block_type":"box","text":"Benchmark","page_number":1,"box":{"x":35,"y":316,"width":67,"height":7}},{"id":"82c41040-4202-440e-b75f-964f872811ea","block_type":"box","text":"Company launch","page_number":1,"box":{"x":179,"y":316,"width":96,"height":8}},{"id":"aa639fec-1607-4670-9998-4f248e5d2656","block_type":"box","text":"Annual management fee","page_number":1,"box":{"x":301,"y":316,"width":142,"height":8}},{"id":"8ac67c24-b971-47c0-9bd1-0077f3c874de","block_type":"box","text":"FTSE All","page_number":1,"box":{"x":36,"y":327,"width":44,"height":7}},{"id":"5d5112b7-94df-43fe-a155-b458deb18646","block_type":"box","text":"-","page_number":1,"box":{"x":82,"y":331,"width":4,"height":1}},{"id":"d0eb2905-3faa-4d8a-bc67-bd91bf43b628","block_type":"box","text":"Share (ex FTSE","page_number":1,"box":{"x":87,"y":327,"width":88,"height":8}},{"id":"bd215bb1-fc8d-4641-99c9-e2d1f9230380","block_type":"box","text":"100, ex Inv Companies)","page_number":1,"box":{"x":35,"y":338,"width":137,"height":9}},{"id":"8add5846-4969-4e59-a647-9a08aceb8d48","block_type":"box","text":"(","page_number":1,"box":{"x":35,"y":349,"width":3,"height":9}},{"id":"0368dea5-3dde-4672-9216-8263d8c1c6c2","block_type":"box","text":"£","page_number":1,"box":{"x":38,"y":349,"width":7,"height":7}},{"id":"78622b70-907d-4139-bd96-91638009101a","block_type":"box","text":")","page_number":1,"box":{"x":45,"y":349,"width":3,"height":9}},{"id":"53588565-2fd1-46a7-86dc-d5a3436d5964","block_type":"box","text":"8 Dec 1884","page_number":1,"box":{"x":179,"y":327,"width":63,"height":7}},{"id":"c8392a11-1b4c-4ce1-ba2f-5eefffc794c7","block_type":"box","text":"0.45% on Market Cap","page_number":1,"box":{"x":301,"y":327,"width":125,"height":8}},{"id":"054314e0-0858-4679-ba7a-2713b0ebfe14","block_type":"box","text":"Company assets","page_number":1,"box":{"x":35,"y":365,"width":97,"height":9}},{"id":"0c2a6668-3de4-4a01-a070-8e6965625f0d","block_type":"box","text":"Discount(","page_number":1,"box":{"x":180,"y":366,"width":56,"height":8}},{"id":"24414730-c1c3-4afc-8d61-6e95bce6a41c","block_type":"box","text":"-","page_number":1,"box":{"x":237,"y":369,"width":4,"height":1}},{"id":"df2a48a8-7029-4d67-ba24-d952647c61cf","block_type":"box","text":")/","page_number":1,"box":{"x":242,"y":366,"width":10,"height":8}},{"id":"a10494c7-16ac-4857-bf34-9e2709fbfb24","block_type":"box","text":"Premium","page_number":1,"box":{"x":180,"y":377,"width":50,"height":7}},{"id":"4f75a8a3-74c7-44f1-b9dd-f194e3f6a63a","block_type":"box","text":"Performance fee","page_number":1,"box":{"x":301,"y":366,"width":98,"height":6}},{"id":"24d8b011-4568-4480-897f-7e6947732e15","block_type":"box","text":"£","page_number":1,"box":{"x":35,"y":388,"width":6,"height":7}},{"id":"2c27ea7f-4dbf-445b-ba5c-8eac3d2fdbee","block_type":"box","text":"2270.3m","page_number":1,"box":{"x":44,"y":388,"width":51,"height":7}},{"id":"e725bbb0-6bbc-4a45-8573-aa57475c95a3","block_type":"box","text":"-","page_number":1,"box":{"x":180,"y":392,"width":3,"height":1}},{"id":"b723e94a-2346-48de-9211-477fcb510efe","block_type":"box","text":"10.0%","page_number":1,"box":{"x":184,"y":388,"width":36,"height":7}},{"id":"bb17a58d-fe29-4b74-9f9a-3115c5bf526a","block_type":"box","text":"No","page_number":1,"box":{"x":302,"y":388,"width":15,"height":7}},{"id":"2d9b8b73-b2d4-4e2b-88b1-27d99118fc26","block_type":"box","text":"Dividends paid","page_number":1,"box":{"x":35,"y":404,"width":85,"height":9}},{"id":"e8219c48-3fce-47cb-8a24-fdc00f1d8ce7","block_type":"box","text":"Potential gearing","page_number":1,"box":{"x":180,"y":404,"width":99,"height":9}},{"id":"4f92bc03-5325-42ef-a720-7244463002c7","block_type":"box","text":"range","page_number":1,"box":{"x":180,"y":417,"width":33,"height":7}},{"id":"bee96585-0854-4018-b1fa-05d078cc1356","block_type":"box","text":"February, May, August","page_number":1,"box":{"x":36,"y":426,"width":133,"height":9}},{"id":"17ce0cab-bf86-46db-96c4-a211c1bf8ad0","block_type":"box","text":"and November","page_number":1,"box":{"x":35,"y":438,"width":89,"height":6}},{"id":"47491459-db00-491b-bf2e-94227cb73a05","block_type":"box","text":"-","page_number":1,"box":{"x":180,"y":430,"width":3,"height":1}},{"id":"0a10ad8f-6a5c-4ecf-a010-5cc8e9842c59","block_type":"box","text":"10% to 20%","page_number":1,"box":{"x":184,"y":426,"width":66,"height":7}},{"id":"32ed2378-43b5-4da3-998b-238ae6ae89b3","block_type":"box","text":"ESG Integration is the systematic inclusion of financially material ESG","page_number":1,"box":{"x":36,"y":491,"width":418,"height":9}},{"id":"64f6c52b-1fdd-4bb6-9768-f430f20cfd2e","block_type":"box","text":"factors, alongside other relevant factors, in investment analysis and","page_number":1,"box":{"x":34,"y":502,"width":406,"height":9}},{"id":"ed42630b-bb10-4446-b88e-68f25d926102","block_type":"box","text":"investment decisions with the goals of managing risk and improving long","page_number":1,"box":{"x":35,"y":513,"width":444,"height":9}},{"id":"5a0965d2-c3c1-418d-a133-c87083749751","block_type":"box","text":"term returns. ESG integration does not by itself change this product's","page_number":1,"box":{"x":34,"y":524,"width":417,"height":9}},{"id":"07ef0f87-65bf-499a-831a-c6ae86025c4c","block_type":"box","text":"investment objective, exclude specific types of companies or constrain its","page_number":1,"box":{"x":35,"y":536,"width":442,"height":8}},{"id":"757c68dc-9b0d-45db-8a41-16f285190a35","block_type":"box","text":"investable universe. This product is not designed for investors who are","page_number":1,"box":{"x":35,"y":547,"width":424,"height":8}},{"id":"ce029fae-6b26-463e-badb-7860b7587559","block_type":"box","text":"looking for a product that meets specific ESG goals or wish to screen out","page_number":1,"box":{"x":36,"y":558,"width":432,"height":9}},{"id":"5b047f98-7d3c-498b-98e7-5703d2f7940c","block_type":"box","text":"particular types of companies or investments, other than those required by","page_number":1,"box":{"x":36,"y":569,"width":448,"height":9}},{"id":"bce75385-5a65-40a1-bc36-a74e3aa798b3","block_type":"box","text":"any applicable law such as companies involved in the manufacture,","page_number":1,"box":{"x":35,"y":580,"width":409,"height":9}},{"id":"e0bac82c-7695-4746-a8a1-34804afdfca6","block_type":"box","text":"production or supply of cluster munitions. ESG integration does not imply","page_number":1,"box":{"x":36,"y":591,"width":443,"height":9}},{"id":"df3ab9b3-7833-48b1-bb09-8306ec66027b","block_type":"box","text":"that the Fund is marketed or authorised as an ESG product in any","page_number":1,"box":{"x":34,"y":602,"width":393,"height":9}},{"id":"434999c8-6bb4-41d2-82a8-99f2003175d5","block_type":"box","text":"jurisdiction where such authorisation is required.","page_number":1,"box":{"x":34,"y":614,"width":301,"height":8}},{"id":"21bcb65d-6277-4bd0-88ef-2dcb502d0e6c","block_type":"box","text":"ESG information","page_number":1,"box":{"x":37,"y":463,"width":123,"height":9}},{"id":"b673f454-348a-4777-a5fc-cf968074b726","block_type":"box","text":"ESG approach","page_number":1,"box":{"x":36,"y":479,"width":88,"height":8}},{"id":"a0c3e157-30e4-4370-b122-0949ad1be590","block_type":"box","text":"-","page_number":1,"box":{"x":130,"y":483,"width":4,"height":1}},{"id":"a5e7a6a4-cc48-48d9-b5d6-246d78b6166c","block_type":"box","text":"Integrated","page_number":1,"box":{"x":140,"y":479,"width":63,"height":9}},{"id":"f7868e9d-e04b-4785-af1d-ebf72d6a9843","block_type":"box","text":"Morningstar Category™","page_number":1,"box":{"x":32,"y":662,"width":146,"height":8}},{"id":"cd055f02-7f5b-4aac-861f-80c8382aa589","block_type":"box","text":"CE UK Mid","page_number":1,"box":{"x":183,"y":662,"width":64,"height":7}},{"id":"62ca964c-39f5-46f8-bd32-7a41f9677d28","block_type":"box","text":"-","page_number":1,"box":{"x":249,"y":666,"width":4,"height":1}},{"id":"865588f6-d1ea-489e-886b-90e7fdb40183","block_type":"box","text":"Cap Equity","page_number":1,"box":{"x":255,"y":662,"width":69,"height":8}},{"id":"454b06d3-4792-42bc-a54a-043638ff5257","block_type":"box","text":"FE Crown Fund","page_number":1,"box":{"x":32,"y":680,"width":95,"height":7}},{"id":"8eab9204-b2da-4a27-8977-d02c9cc4a8f5","block_type":"box","text":"Share Price","page_number":1,"box":{"x":48,"y":725,"width":71,"height":7}},{"id":"32892970-3ec3-4255-832a-0dff01cf32ef","block_type":"box","text":"Net asset value","page_number":1,"box":{"x":49,"y":737,"width":95,"height":7}},{"id":"79661705-0b13-4073-a4b2-453c48317805","block_type":"box","text":"Benchmark:","page_number":1,"box":{"x":49,"y":749,"width":73,"height":7}},{"id":"94b4cffa-9a24-45bb-ad1b-41d3fb7dd5d1","block_type":"box","text":"FTSE All","page_number":1,"box":{"x":127,"y":749,"width":45,"height":7}},{"id":"385ec4a4-de2f-454d-aef6-63933e066562","block_type":"box","text":"-","page_number":1,"box":{"x":174,"y":753,"width":3,"height":1}},{"id":"49962eaa-ec65-4ecd-b720-b37a0b6e4a71","block_type":"box","text":"Share (ex FTSE 100, ex Inv Companies) (","page_number":1,"box":{"x":178,"y":749,"width":235,"height":9}},{"id":"8c5e03f4-8ac1-48c8-a8c4-af3db94abeef","block_type":"box","text":"£","page_number":1,"box":{"x":414,"y":749,"width":6,"height":7}},{"id":"0b9e0bb5-81ed-41a3-944e-a2c71a0161fd","block_type":"box","text":")","page_number":1,"box":{"x":421,"y":749,"width":2,"height":9}},{"id":"1c3365f7-7f8c-4c9f-b2a3-9eec7c5e7c63","block_type":"box","text":"1","page_number":1,"box":{"x":37,"y":725,"width":4,"height":7}},{"id":"f373b445-00ba-4383-8baf-ae511e14bcc9","block_type":"box","text":"2","page_number":1,"box":{"x":36,"y":737,"width":6,"height":7}},{"id":"a8a35b5f-7224-4df8-a350-997310d4177a","block_type":"box","text":"3","page_number":1,"box":{"x":36,"y":749,"width":6,"height":7}},{"id":"18d58e29-515f-4a48-833e-dd6e973dfb86","block_type":"box","text":"Quarterly rolling 12","page_number":1,"box":{"x":520,"y":282,"width":108,"height":8}},{"id":"f23c711b-edca-4783-a8cd-ec8857911bfd","block_type":"box","text":"-","page_number":1,"box":{"x":629,"y":286,"width":4,"height":1}},{"id":"8ec8c2bb-4c64-4043-8346-76852efcfff0","block_type":"box","text":"month performance (%)","page_number":1,"box":{"x":635,"y":282,"width":134,"height":8}},{"id":"c1694ce9-f140-43a6-b71c-a044603f5a25","block_type":"box","text":"As at end of June 2026","page_number":1,"box":{"x":517,"y":296,"width":125,"height":6}},{"id":"c5d2d2e2-a57a-4811-a87c-fb37f0adc360","block_type":"box","text":"YIELD AND DIVIDEND HISTORY","page_number":1,"box":{"x":518,"y":360,"width":172,"height":7}},{"id":"e2f4236b-c4e1-4c75-8a15-f49cbb33bce9","block_type":"box","text":"2022","page_number":1,"box":{"x":687,"y":397,"width":29,"height":7}},{"id":"e3a9ba86-2fc4-4f1c-9c4c-3b6f69ebcae3","block_type":"box","text":"2023","page_number":1,"box":{"x":748,"y":397,"width":29,"height":7}},{"id":"c85b45c4-e797-46fe-af9b-e6779e94ac59","block_type":"box","text":"2024","page_number":1,"box":{"x":809,"y":397,"width":30,"height":7}},{"id":"f326c4fc-542f-4191-bd50-2ae269cd8ddb","block_type":"box","text":"2025","page_number":1,"box":{"x":870,"y":397,"width":29,"height":7}},{"id":"941fc49b-9ff1-4a35-a643-2cfecdf914b2","block_type":"box","text":"2026","page_number":1,"box":{"x":920,"y":397,"width":29,"height":7}},{"id":"0ed24a14-e1c5-4a53-a3e4-d6a55b34f363","block_type":"box","text":"Total dividend per share (p)","page_number":1,"box":{"x":517,"y":408,"width":149,"height":8}},{"id":"968fd3e7-d7ab-4a56-9c28-08f482e8a75a","block_type":"box","text":"6.90","page_number":1,"box":{"x":690,"y":409,"width":24,"height":7}},{"id":"6af6f76e-587d-4e33-8260-04c6683b057f","block_type":"box","text":"7.15","page_number":1,"box":{"x":751,"y":409,"width":21,"height":7}},{"id":"a2665eb7-fcdd-4795-ae2f-a6186c55c9ac","block_type":"box","text":"7.65","page_number":1,"box":{"x":812,"y":409,"width":24,"height":7}},{"id":"90189779-62b7-4e9d-a959-dea73ffe5cca","block_type":"box","text":"7.90","page_number":1,"box":{"x":873,"y":409,"width":23,"height":7}},{"id":"79f5d0ae-d556-4668-9bfb-543f82eacbd9","block_type":"box","text":"8.20","page_number":1,"box":{"x":923,"y":409,"width":22,"height":7}},{"id":"b21fa92d-9939-4f7d-8496-5e0cdc76e663","block_type":"box","text":"Portfolio analysis","page_number":1,"box":{"x":519,"y":426,"width":139,"height":11}},{"id":"300fe0e7-7efb-429b-881e-dd9ac9953519","block_type":"box","text":"Measurement","page_number":1,"box":{"x":517,"y":440,"width":80,"height":6}},{"id":"910e33db-bad5-4351-9763-bdab9eb3ff43","block_type":"box","text":"3 years","page_number":1,"box":{"x":767,"y":440,"width":41,"height":8}},{"id":"a4584285-74c2-4511-90dd-216384b9fcb1","block_type":"box","text":"5 years","page_number":1,"box":{"x":914,"y":440,"width":40,"height":8}},{"id":"1e84ae0a-c48a-4150-ab68-083418b409eb","block_type":"box","text":"Correlation","page_number":1,"box":{"x":517,"y":451,"width":62,"height":7}},{"id":"b2efa2d2-4890-43cf-9b51-0ad135b0e108","block_type":"box","text":"0.95","page_number":1,"box":{"x":784,"y":451,"width":24,"height":7}},{"id":"7cfe625a-b8b0-47d7-8e72-ff11f047a991","block_type":"box","text":"0.96","page_number":1,"box":{"x":930,"y":451,"width":24,"height":7}},{"id":"1e418799-8ebc-45fe-8361-c1bc027e83af","block_type":"box","text":"Alpha (%)","page_number":1,"box":{"x":517,"y":463,"width":50,"height":7}},{"id":"a1fac7dd-a577-4a21-88da-972bc91ef8c4","block_type":"box","text":"0.61","page_number":1,"box":{"x":786,"y":463,"width":21,"height":6}},{"id":"fdabec7c-09f6-4a2a-965b-b4493ad93e86","block_type":"box","text":"-","page_number":1,"box":{"x":926,"y":466,"width":3,"height":1}},{"id":"1452b028-88cf-4714-9944-2854094ad724","block_type":"box","text":"0.36","page_number":1,"box":{"x":931,"y":463,"width":23,"height":6}},{"id":"bfeac6bb-6753-4c58-82e3-4dbfbc0e8883","block_type":"box","text":"Beta","page_number":1,"box":{"x":518,"y":474,"width":25,"height":6}},{"id":"2ad692a6-f6ae-4dfb-a2ff-37a49f384608","block_type":"box","text":"0.93","page_number":1,"box":{"x":785,"y":474,"width":23,"height":6}},{"id":"cef1a9de-bcf5-460a-9b29-2679e9e5a22e","block_type":"box","text":"1.01","page_number":1,"box":{"x":934,"y":474,"width":19,"height":6}},{"id":"fa5d1bb0-291e-457f-9245-892e08e00b1c","block_type":"box","text":"Annualised volatility (%)","page_number":1,"box":{"x":517,"y":485,"width":126,"height":8}},{"id":"1cf2af1a-4aae-4b5b-8ee7-47e1753addca","block_type":"box","text":"14.73","page_number":1,"box":{"x":782,"y":485,"width":26,"height":6}},{"id":"9a3e6193-1280-49aa-ac88-a2a4723f3f8a","block_type":"box","text":"17.39","page_number":1,"box":{"x":927,"y":485,"width":27,"height":6}},{"id":"8b0adc4a-0f7a-44f8-93b4-db1fd5639539","block_type":"box","text":"Sharpe ratio","page_number":1,"box":{"x":517,"y":496,"width":68,"height":8}},{"id":"bf6e2c15-32e3-4063-8a99-8e22d5c20e12","block_type":"box","text":"0.72","page_number":1,"box":{"x":786,"y":496,"width":22,"height":6}},{"id":"cfa0c10d-ef9b-4cd7-93d9-4e925df96817","block_type":"box","text":"0.08","page_number":1,"box":{"x":931,"y":496,"width":23,"height":6}},{"id":"d9bd85a7-63af-479f-8be7-1eb4a157ff97","block_type":"box","text":"Tracking error (%)","page_number":1,"box":{"x":517,"y":507,"width":98,"height":8}},{"id":"45d648db-b4f8-449a-b38e-64687f9196de","block_type":"box","text":"4.71","page_number":1,"box":{"x":788,"y":507,"width":19,"height":6}},{"id":"14b638df-cbfa-406a-aec6-a37087ade0dd","block_type":"box","text":"4.91","page_number":1,"box":{"x":933,"y":507,"width":20,"height":6}},{"id":"346d8a41-a651-4376-8015-3b8dae5f5174","block_type":"box","text":"Information ratio","page_number":1,"box":{"x":518,"y":518,"width":92,"height":7}},{"id":"7ef20f88-9b7d-4cac-b13c-a4f505ba4dea","block_type":"box","text":"0.12","page_number":1,"box":{"x":787,"y":518,"width":21,"height":7}},{"id":"539c724d-f1a9-4d05-b94a-75938766f8c3","block_type":"box","text":"-","page_number":1,"box":{"x":926,"y":522,"width":3,"height":1}},{"id":"b0c9fb77-9e13-40be-aa6b-6d34f7b7b84e","block_type":"box","text":"0.04","page_number":1,"box":{"x":931,"y":518,"width":23,"height":7}},{"id":"47b6e299-ea9b-4fc2-ad79-b7ca28916c82","block_type":"box","text":"Holdings","page_number":1,"box":{"x":519,"y":547,"width":72,"height":11}},{"id":"3b0ca234-0ec0-49c0-a52f-a8868a79a3a6","block_type":"box","text":"Top 10","page_number":1,"box":{"x":518,"y":562,"width":35,"height":8}},{"id":"d83618d3-5842-4839-9d89-5827628afbed","block_type":"box","text":"Sector","page_number":1,"box":{"x":743,"y":562,"width":36,"height":7}},{"id":"038e1edd-181c-4bcc-9742-e7d62f3671ac","block_type":"box","text":"% of assets","page_number":1,"box":{"x":881,"y":562,"width":61,"height":7}},{"id":"41cc70b1-26ec-41ea-a010-d19a7902bb7b","block_type":"box","text":"Softcat","page_number":1,"box":{"x":518,"y":575,"width":38,"height":6}},{"id":"ed06e31b-d79c-4e8e-9f46-17aa2a9b9da6","block_type":"box","text":"Technology","page_number":1,"box":{"x":743,"y":575,"width":64,"height":8}},{"id":"e292b016-d796-4cc3-acd5-1ed8385691fb","block_type":"box","text":"4.5","page_number":1,"box":{"x":925,"y":575,"width":17,"height":6}},{"id":"0ade0372-4e44-40b5-9dc1-7825d37491f2","block_type":"box","text":"Intermediate Capital Group","page_number":1,"box":{"x":519,"y":588,"width":150,"height":8}},{"id":"3ad4e9cc-3ddf-4a71-874a-a0175eb61f03","block_type":"box","text":"Financials","page_number":1,"box":{"x":744,"y":588,"width":53,"height":6}},{"id":"d11454ec-0a5c-4848-ace5-5a59a5a2cd55","block_type":"box","text":"3.5","page_number":1,"box":{"x":925,"y":588,"width":17,"height":6}},{"id":"64aa6722-0637-4c52-a75c-48fb2bc3b9a7","block_type":"box","text":"Bellway","page_number":1,"box":{"x":519,"y":606,"width":41,"height":8}},{"id":"2c9295f5-8ca5-4670-98e9-6b41dbe7de2a","block_type":"box","text":"Consumer","page_number":1,"box":{"x":743,"y":601,"width":59,"height":6}},{"id":"9880b1e3-c3ea-4cdd-97cc-945cabd90bf4","block_type":"box","text":"Discretionary","page_number":1,"box":{"x":744,"y":611,"width":73,"height":8}},{"id":"e0a74903-0bf8-4ba8-9493-c38e88c3aac5","block_type":"box","text":"3.2","page_number":1,"box":{"x":927,"y":606,"width":15,"height":6}},{"id":"10de0f33-3f98-4efa-8cd7-2db976469427","block_type":"box","text":"Computacenter","page_number":1,"box":{"x":518,"y":624,"width":88,"height":8}},{"id":"5dd2cb7f-4016-4636-a9ec-f4f0d52213be","block_type":"box","text":"Technology","page_number":1,"box":{"x":743,"y":624,"width":64,"height":8}},{"id":"f8c6d89e-f233-4acd-9af4-97c76acb4a54","block_type":"box","text":"3.2","page_number":1,"box":{"x":927,"y":624,"width":15,"height":6}},{"id":"6bced7f2-088d-45a5-8bb7-e1405691e409","block_type":"box","text":"Cranswick","page_number":1,"box":{"x":518,"y":637,"width":58,"height":6}},{"id":"2364658e-8696-4401-8958-24d3ba96c35f","block_type":"box","text":"Consumer Staples","page_number":1,"box":{"x":743,"y":637,"width":103,"height":8}},{"id":"e597a04e-5387-476b-9fb3-d45d1f5d8218","block_type":"box","text":"3.2","page_number":1,"box":{"x":927,"y":637,"width":15,"height":6}},{"id":"27621678-a1f4-4173-b76a-da4cec5a33a3","block_type":"box","text":"Hill & Smith","page_number":1,"box":{"x":519,"y":650,"width":59,"height":6}},{"id":"512945aa-ea46-43e0-91aa-9a42089c5db0","block_type":"box","text":"Basic Materials","page_number":1,"box":{"x":744,"y":650,"width":82,"height":6}},{"id":"3c8aec67-92f5-44ad-ba5b-8c34963b8ae0","block_type":"box","text":"3.2","page_number":1,"box":{"x":927,"y":650,"width":15,"height":6}},{"id":"8a4cbac6-edf2-4b72-9eb4-30953d82371e","block_type":"box","text":"Balfour Beatty","page_number":1,"box":{"x":519,"y":663,"width":79,"height":8}},{"id":"4a4988bb-5d4a-4065-b557-91467d945597","block_type":"box","text":"Industrials","page_number":1,"box":{"x":744,"y":663,"width":57,"height":6}},{"id":"ebd6bb39-aa2c-4fbe-aa02-2092621a8742","block_type":"box","text":"3.1","page_number":1,"box":{"x":928,"y":663,"width":13,"height":6}},{"id":"fdd59106-b489-46f6-bc52-83c45e45e55a","block_type":"box","text":"Serco","page_number":1,"box":{"x":518,"y":676,"width":32,"height":6}},{"id":"8c22c63d-d669-445e-9531-ffa654e8e3c6","block_type":"box","text":"Industrials","page_number":1,"box":{"x":744,"y":676,"width":57,"height":6}},{"id":"951ceb0f-5ec0-4194-8eb4-96b1bb058b4f","block_type":"box","text":"3.0","page_number":1,"box":{"x":925,"y":676,"width":17,"height":6}},{"id":"0176a1f7-a5a0-465f-968e-12377deb03e0","block_type":"box","text":"Lion Finance","page_number":1,"box":{"x":519,"y":689,"width":68,"height":6}},{"id":"c2ee969d-7e24-486d-9df3-1b8f119c93e6","block_type":"box","text":"Financials","page_number":1,"box":{"x":744,"y":689,"width":53,"height":6}},{"id":"7f6b810c-fbaf-477f-ad64-4937f6bebd0f","block_type":"box","text":"2.7","page_number":1,"box":{"x":927,"y":689,"width":15,"height":6}},{"id":"e4ec0ca5-2ba8-41f3-b594-7f3766dbcdfa","block_type":"box","text":"Plus500","page_number":1,"box":{"x":519,"y":701,"width":43,"height":7}},{"id":"d0f8d8e9-f738-4112-8a20-85987eb6aa12","block_type":"box","text":"Financials","page_number":1,"box":{"x":744,"y":701,"width":53,"height":7}},{"id":"c7dda743-1c01-4b49-ad71-f4b8cbdd7e6d","block_type":"box","text":"2.6","page_number":1,"box":{"x":926,"y":701,"width":16,"height":7}},{"id":"2ed00517-9cfa-4ee4-939e-f6d2628ffe6a","block_type":"box","text":"Past performance is not a reliable indicator of current and future","page_number":1,"box":{"x":518,"y":740,"width":407,"height":8}},{"id":"12fc010e-8103-4a27-bf3a-1dbc53b1dbc9","block_type":"box","text":"results.","page_number":1,"box":{"x":518,"y":751,"width":46,"height":7}},{"id":"4f66df13-fcc2-4ced-81f2-7946b74c299a","block_type":"box","text":"For more information on our approach to sustainable investing at J.P.","page_number":1,"box":{"x":519,"y":778,"width":414,"height":9}},{"id":"16a4cbbf-a8cd-457e-b35a-170e6bc4a118","block_type":"box","text":"Morgan Asset Management please visit","page_number":1,"box":{"x":519,"y":789,"width":236,"height":9}},{"id":"24bf04c1-9f00-42a9-9776-eb03549fecf8","block_type":"box","text":"https://am.jpmorgan.com/uk/esg","page_number":1,"box":{"x":519,"y":801,"width":215,"height":8}},{"id":"a97bcdf1-a82b-49c5-8302-e8500b5d2b72","block_type":"box","text":"The latest month in review commentary can be found on the J.P.Morgan","page_number":1,"box":{"x":518,"y":823,"width":428,"height":9}},{"id":"3be0cb2b-9fa1-47ca-9470-617f2a9823ab","block_type":"box","text":"Asset Management website","page_number":1,"box":{"x":518,"y":834,"width":166,"height":9}},{"id":"286d50e9-47dd-4b3e-8fc7-b45e15ccef61","block_type":"box","text":"here","page_number":1,"box":{"x":688,"y":834,"width":26,"height":7}},{"id":"47a9dcce-bede-410e-b7b4-eb3835cbcf3c","block_type":"box","text":".","page_number":1,"box":{"x":716,"y":840,"width":1,"height":1}},{"id":"d1385066-2ec0-4fad-b707-e6567399b737","block_type":"box","text":"Performance Disclosures","page_number":1,"box":{"x":520,"y":728,"width":145,"height":6}},{"id":"16adbd54-a538-4033-9c38-e0e026c8d2a5","block_type":"box","text":"ESG","page_number":1,"box":{"x":520,"y":767,"width":22,"height":6}},{"id":"9e30b641-a4fc-4014-8380-a344f0f9d1ed","block_type":"box","text":"GROWTH OF","page_number":1,"box":{"x":517,"y":123,"width":77,"height":7}},{"id":"dfa09905-2735-4b14-98fe-a9ed0d9517d4","block_type":"box","text":"£","page_number":1,"box":{"x":598,"y":123,"width":8,"height":7}},{"id":"65fe827f-bc0a-40cd-9fee-9335a0c514f3","block_type":"box","text":"10,000","page_number":1,"box":{"x":611,"y":123,"width":42,"height":9}},{"id":"45271c1f-e9d3-404d-bda4-4532c30fcc1c","block_type":"box","text":"Calendar years","page_number":1,"box":{"x":657,"y":124,"width":88,"height":8}},{"id":"41d7e8b7-9368-429f-8d20-927b54cbef24","block_type":"box","text":"31 Aug 2021","page_number":1,"box":{"x":553,"y":263,"width":61,"height":9}},{"id":"775ac77b-0eb9-4d93-84c8-be467d08b0c7","block_type":"box","text":"31 Aug 2026","page_number":1,"box":{"x":889,"y":263,"width":68,"height":9}},{"id":"e0c78b10-8448-43f5-bdb6-1ca8fce83e98","block_type":"box","text":"2021/2022","page_number":1,"box":{"x":546,"y":307,"width":66,"height":7}},{"id":"5a683ba6-d68e-4d20-9f15-e97be2251c78","block_type":"box","text":"2022/2023","page_number":1,"box":{"x":629,"y":307,"width":67,"height":7}},{"id":"f7f18fc2-fc36-4dcb-8927-28ea94661765","block_type":"box","text":"2023/2024","page_number":1,"box":{"x":712,"y":307,"width":67,"height":7}},{"id":"72d42baf-fb6c-4c27-9d5b-6b425d05bbe8","block_type":"box","text":"2024/2025","page_number":1,"box":{"x":796,"y":307,"width":68,"height":7}},{"id":"29c4270d-6c0b-4816-ac2b-8501dff3d6e8","block_type":"box","text":"2025/2026","page_number":1,"box":{"x":878,"y":307,"width":69,"height":7}},{"id":"9dcbabdb-121a-45b6-8741-d0fb5a5485d3","block_type":"box","text":"-","page_number":1,"box":{"x":561,"y":323,"width":4,"height":1}},{"id":"12a7ebb0-ea77-46d2-b5bb-c8002eb66760","block_type":"box","text":"28.55","page_number":1,"box":{"x":566,"y":319,"width":32,"height":7}},{"id":"78448ec6-c01b-44d3-9ae1-5c9f26d6f46a","block_type":"box","text":"13.03","page_number":1,"box":{"x":647,"y":319,"width":31,"height":7}},{"id":"97915af6-10be-4f3e-ac18-bc6fe02f348c","block_type":"box","text":"24.15","page_number":1,"box":{"x":731,"y":319,"width":30,"height":7}},{"id":"83910699-bd71-4638-96a8-1cc2c323b24f","block_type":"box","text":"13.76","page_number":1,"box":{"x":815,"y":319,"width":28,"height":7}},{"id":"1a2dd98b-6df4-4d1e-849d-decc9d792392","block_type":"box","text":"7.73","page_number":1,"box":{"x":901,"y":319,"width":22,"height":7}},{"id":"a379b5f7-1c84-47ab-bc65-30c62848a5a5","block_type":"box","text":"-","page_number":1,"box":{"x":560,"y":335,"width":3,"height":1}},{"id":"68fb03d5-c0ce-48ac-a84f-fdb1091f36c4","block_type":"box","text":"24.02","page_number":1,"box":{"x":564,"y":331,"width":33,"height":7}},{"id":"c8763e3e-ffcf-418b-bac1-75b176b2221d","block_type":"box","text":"12.85","page_number":1,"box":{"x":647,"y":331,"width":30,"height":7}},{"id":"4b4cf18e-4d85-45a4-bfe7-95decb0cf7e6","block_type":"box","text":"17.99","page_number":1,"box":{"x":731,"y":331,"width":29,"height":7}},{"id":"58c49258-c5e1-4f6d-b9c5-72b826e5d110","block_type":"box","text":"10.84","page_number":1,"box":{"x":814,"y":331,"width":31,"height":7}},{"id":"30ae69df-c072-427f-9642-870deba5a07e","block_type":"box","text":"7.71","page_number":1,"box":{"x":902,"y":331,"width":20,"height":7}},{"id":"4e4fe4d0-a182-4079-8ad2-5d08ee2c84b2","block_type":"box","text":"-","page_number":1,"box":{"x":564,"y":347,"width":3,"height":1}},{"id":"a57c9747-5070-45bc-b3aa-0c3e49c360b3","block_type":"box","text":"15.91","page_number":1,"box":{"x":568,"y":343,"width":26,"height":7}},{"id":"37c012fc-a712-47e8-8b4a-31745d8a2839","block_type":"box","text":"2.51","page_number":1,"box":{"x":651,"y":343,"width":21,"height":7}},{"id":"d160b228-80f7-4492-94c1-ac73cb1f7d79","block_type":"box","text":"15.43","page_number":1,"box":{"x":731,"y":343,"width":30,"height":7}},{"id":"277100a8-ba09-4fd5-a985-d6af23dc01c6","block_type":"box","text":"11.71","page_number":1,"box":{"x":818,"y":343,"width":22,"height":7}},{"id":"3e33ac63-e98d-45c0-9bc2-32bc7912e963","block_type":"box","text":"6.71","page_number":1,"box":{"x":903,"y":343,"width":20,"height":7}},{"id":"f6647130-be5b-4b53-b0c4-7c6820b9579e","block_type":"box","text":"Prospective dividend yield:","page_number":1,"box":{"x":518,"y":372,"width":145,"height":8}},{"id":"981470b6-b49a-44a4-a165-e29e2992966a","block_type":"box","text":"2.8%","page_number":1,"box":{"x":667,"y":372,"width":26,"height":7}},{"id":"62cb8add-8d88-44bf-84b8-7ac412eafe73","block_type":"box","text":"Total dividend for last financial year:","page_number":1,"box":{"x":517,"y":383,"width":196,"height":8}},{"id":"930dce4e-e47d-4371-8e28-21a0c29c7dbd","block_type":"box","text":"8.20p","page_number":1,"box":{"x":717,"y":383,"width":32,"height":8}},{"id":"1111a880-9767-441b-a84f-1877dc7f36b4","block_type":"box","text":"Financial year end:","page_number":1,"box":{"x":788,"y":383,"width":102,"height":8}},{"id":"d900e2a8-6f6b-4789-bf14-452dc055e050","block_type":"box","text":"31 January","page_number":1,"box":{"x":894,"y":383,"width":60,"height":8}},{"id":"909bc12d-907d-4f0f-b701-eb261f68ccba","block_type":"box","text":"Summary Risk Indicator","page_number":1,"box":{"x":670,"y":15,"width":133,"height":7}},{"id":"88067202-0802-4aad-af11-d89c42da0b98","block_type":"box","text":"Lower risk","page_number":1,"box":{"x":671,"y":44,"width":48,"height":6}},{"id":"25717fd6-2d36-415d-b4e2-3d540c89506b","block_type":"box","text":"Higher risk","page_number":1,"box":{"x":902,"y":44,"width":52,"height":7}},{"id":"64d8a849-6c00-433a-8f19-835ef032a488","block_type":"box","text":"Market cap (%) (GBP)","page_number":2,"box":{"x":30,"y":55,"width":115,"height":8}},{"id":"87726e81-05a9-4db7-8990-1b535ee0d559","block_type":"box","text":"0.00","page_number":2,"box":{"x":204,"y":85,"width":23,"height":6}},{"id":"c789b6b9-2188-4f45-a5fc-df39342ac12f","block_type":"box","text":"> 100 bn","page_number":2,"box":{"x":240,"y":85,"width":43,"height":6}},{"id":"57f4492f-a88c-44c7-bb73-18f4f30200a8","block_type":"box","text":"0.95","page_number":2,"box":{"x":204,"y":101,"width":23,"height":6}},{"id":"6e22903b-5574-4806-9b6a-6dcf3f76300d","block_type":"box","text":"10 bn","page_number":2,"box":{"x":240,"y":101,"width":27,"height":6}},{"id":"9fbe65cb-92e9-44da-a14f-4baa06c99def","block_type":"box","text":"-","page_number":2,"box":{"x":271,"y":104,"width":4,"height":1}},{"id":"46a44b00-bcfa-4e36-9ae8-e70a48e189e5","block_type":"box","text":"100 bn","page_number":2,"box":{"x":278,"y":101,"width":34,"height":6}},{"id":"e091b75d-6f1b-4570-9e77-6b6f3f4e01ba","block_type":"box","text":"80.95","page_number":2,"box":{"x":204,"y":117,"width":29,"height":6}},{"id":"186331d0-9864-468e-a54f-37eb3611a495","block_type":"box","text":"1 bn","page_number":2,"box":{"x":240,"y":117,"width":20,"height":6}},{"id":"c36ccf1b-1630-496c-8d6e-df7438900f70","block_type":"box","text":"-","page_number":2,"box":{"x":264,"y":120,"width":4,"height":1}},{"id":"01fe5c09-06b8-46ad-b8f2-e47f9d0892d4","block_type":"box","text":"10 bn","page_number":2,"box":{"x":271,"y":117,"width":27,"height":6}},{"id":"0f99b7b9-3c33-418e-a941-ceb5f7c15fdc","block_type":"box","text":"18.10","page_number":2,"box":{"x":204,"y":133,"width":25,"height":6}},{"id":"ec39bde9-72bb-45c4-96d8-368978370c03","block_type":"box","text":"< 1 bn","page_number":2,"box":{"x":240,"y":133,"width":29,"height":6}},{"id":"9a932367-7f43-4105-9a57-e3f012c0081a","block_type":"box","text":"Figures shown may not add up to 100 due to rounding.","page_number":2,"box":{"x":30,"y":179,"width":319,"height":8}},{"id":"a853cc31-9549-4042-95a1-8ef4e3207408","block_type":"box","text":"Sectors (%)","page_number":2,"box":{"x":513,"y":55,"width":61,"height":8}},{"id":"d3d3ed9f-a1c0-4156-9d15-b2ce20cdd510","block_type":"box","text":"Compared to benchmark","page_number":2,"box":{"x":807,"y":55,"width":140,"height":8}},{"id":"1ec17c40-bd4c-4dbd-90c4-c6daa77959d8","block_type":"box","text":"Financials","page_number":2,"box":{"x":512,"y":67,"width":52,"height":6}},{"id":"c706bc96-4fbd-4f00-9380-55f5f52b7c10","block_type":"box","text":"26.0","page_number":2,"box":{"x":735,"y":67,"width":23,"height":6}},{"id":"b7fd7387-cefa-4cc1-9a40-412cc79c0cba","block_type":"box","text":"+11.1","page_number":2,"box":{"x":923,"y":67,"width":23,"height":6}},{"id":"256300cb-6cf8-4077-84ff-62eedd73b918","block_type":"box","text":"Industrials","page_number":2,"box":{"x":512,"y":77,"width":55,"height":7}},{"id":"09682029-8548-4c5e-be09-1c81a18eb43b","block_type":"box","text":"22.6","page_number":2,"box":{"x":736,"y":77,"width":22,"height":7}},{"id":"050ef0bc-e7f0-4087-b544-bb0597e4eaa8","block_type":"box","text":"-","page_number":2,"box":{"x":928,"y":81,"width":4,"height":1}},{"id":"30038eab-4309-413e-9f40-12ebdeaf85c7","block_type":"box","text":"3.7","page_number":2,"box":{"x":933,"y":77,"width":14,"height":7}},{"id":"513b4f6d-0206-4430-afe2-163448b4431b","block_type":"box","text":"Consumer Discretionary","page_number":2,"box":{"x":511,"y":88,"width":132,"height":8}},{"id":"3ae6f05c-1499-4965-b4a1-3bd2ed1a86db","block_type":"box","text":"20.0","page_number":2,"box":{"x":735,"y":88,"width":23,"height":6}},{"id":"7de1e3a2-f540-47b1-a63b-59eebc257612","block_type":"box","text":"-","page_number":2,"box":{"x":927,"y":92,"width":3,"height":1}},{"id":"70c35121-9ac7-442f-8b34-3bcb496c105b","block_type":"box","text":"0.3","page_number":2,"box":{"x":932,"y":88,"width":15,"height":6}},{"id":"05457a28-bb18-4fe8-b081-4287f8c09a5d","block_type":"box","text":"Technology","page_number":2,"box":{"x":511,"y":99,"width":62,"height":8}},{"id":"5a28c35d-1eb9-4d8a-bbeb-e1d4534ceb86","block_type":"box","text":"11.2","page_number":2,"box":{"x":740,"y":99,"width":18,"height":6}},{"id":"88c10288-bf96-4e64-815d-9229356561df","block_type":"box","text":"+6.9","page_number":2,"box":{"x":923,"y":99,"width":24,"height":6}},{"id":"e3297152-7b07-41c5-b985-7d0d656a1860","block_type":"box","text":"Consumer Staples","page_number":2,"box":{"x":511,"y":110,"width":100,"height":8}},{"id":"8c384be1-a37f-455e-96db-b91d8bff17ba","block_type":"box","text":"7.9","page_number":2,"box":{"x":742,"y":110,"width":15,"height":6}},{"id":"48f23c0f-7228-4c62-8208-dbd0ca25b803","block_type":"box","text":"+1.9","page_number":2,"box":{"x":926,"y":110,"width":21,"height":6}},{"id":"62556eac-bad5-441b-a8e0-aba8d6018784","block_type":"box","text":"Real Estate","page_number":2,"box":{"x":512,"y":121,"width":59,"height":6}},{"id":"e6bd6a64-f185-4177-a149-d28d1a732b88","block_type":"box","text":"6.2","page_number":2,"box":{"x":742,"y":121,"width":16,"height":6}},{"id":"df7c78d2-a9b7-4637-a2f2-02ce6ece27c8","block_type":"box","text":"-","page_number":2,"box":{"x":927,"y":125,"width":3,"height":0}},{"id":"5cc179e0-236d-4ba3-9ef7-4894a9ed1a4f","block_type":"box","text":"6.7","page_number":2,"box":{"x":931,"y":121,"width":16,"height":6}},{"id":"2916a0eb-a3d6-4c68-a898-4d7354f22958","block_type":"box","text":"Basic Materials","page_number":2,"box":{"x":512,"y":132,"width":80,"height":6}},{"id":"b310c6af-7f21-4bb8-bb4b-8738a0885cd2","block_type":"box","text":"5.1","page_number":2,"box":{"x":743,"y":132,"width":14,"height":6}},{"id":"aa5b18d3-8650-4273-81be-bc954b2d5dfe","block_type":"box","text":"-","page_number":2,"box":{"x":929,"y":135,"width":4,"height":1}},{"id":"b2f0fa2e-d803-469c-871b-06ab0cca9a32","block_type":"box","text":"1.3","page_number":2,"box":{"x":934,"y":132,"width":13,"height":6}},{"id":"7611e1c5-ba20-4ce3-bb53-ec10814568fe","block_type":"box","text":"Health Care","page_number":2,"box":{"x":512,"y":143,"width":63,"height":6}},{"id":"748dfb74-e8fe-4e10-99eb-b3d6bf332585","block_type":"box","text":"0.0","page_number":2,"box":{"x":741,"y":143,"width":17,"height":6}},{"id":"10b0698a-22f3-4ec6-aef9-1843786f8db6","block_type":"box","text":"-","page_number":2,"box":{"x":927,"y":146,"width":3,"height":1}},{"id":"3023f569-5f02-4992-b4a1-8cb5c23db5b3","block_type":"box","text":"2.9","page_number":2,"box":{"x":931,"y":143,"width":16,"height":6}},{"id":"67a3299f-6f42-45a0-a1fd-9e97bdbe3060","block_type":"box","text":"Energy","page_number":2,"box":{"x":512,"y":154,"width":38,"height":7}},{"id":"d5c55538-042c-4321-9c82-e6cda1e606e4","block_type":"box","text":"0.0","page_number":2,"box":{"x":741,"y":154,"width":17,"height":6}},{"id":"3b7e27d5-aee7-48a0-a4c8-75394134ed9b","block_type":"box","text":"-","page_number":2,"box":{"x":927,"y":157,"width":3,"height":1}},{"id":"e470afa1-213e-4ba6-8436-3be4b7582782","block_type":"box","text":"2.5","page_number":2,"box":{"x":931,"y":154,"width":16,"height":6}},{"id":"2666f598-6ba0-424f-94d9-f527eecfe674","block_type":"box","text":"Utilities","page_number":2,"box":{"x":512,"y":164,"width":35,"height":7}},{"id":"2ca63770-37f0-4767-92bb-c853216b4488","block_type":"box","text":"0.0","page_number":2,"box":{"x":741,"y":164,"width":17,"height":7}},{"id":"d6f0c34c-9551-4d3a-9df6-9b3770b25509","block_type":"box","text":"-","page_number":2,"box":{"x":928,"y":168,"width":4,"height":1}},{"id":"4e8e4917-99f2-48df-b7bd-e29035761895","block_type":"box","text":"2.3","page_number":2,"box":{"x":933,"y":164,"width":14,"height":7}},{"id":"8a8ed43c-a600-4a4b-9809-89e35c9c7475","block_type":"box","text":"Telecommunications","page_number":2,"box":{"x":511,"y":175,"width":112,"height":6}},{"id":"2b78891d-a42a-4cf6-b5b8-9ce603ca7f52","block_type":"box","text":"0.0","page_number":2,"box":{"x":741,"y":175,"width":17,"height":6}},{"id":"79a0420c-a20d-4c9c-a063-b66fb6cf7f5b","block_type":"box","text":"-","page_number":2,"box":{"x":929,"y":179,"width":4,"height":0}},{"id":"191604f9-fe40-4837-8e81-26ecab91fda4","block_type":"box","text":"1.2","page_number":2,"box":{"x":934,"y":175,"width":13,"height":6}},{"id":"789e476a-20cf-4158-bebf-b53cd98044b6","block_type":"box","text":"Cash","page_number":2,"box":{"x":511,"y":186,"width":27,"height":6}},{"id":"2397aef9-3f1b-42f8-8446-60fea3071b87","block_type":"box","text":"1.0","page_number":2,"box":{"x":743,"y":186,"width":15,"height":6}},{"id":"5cb08dec-7e3b-4d6a-a2fb-378fff166fd6","block_type":"box","text":"+1.0","page_number":2,"box":{"x":926,"y":186,"width":21,"height":6}},{"id":"e4d68736-aca1-4578-8ab5-fb2cfd00faf4","block_type":"box","text":"Figures shown may not add up to 100 due to rounding.","page_number":2,"box":{"x":513,"y":202,"width":319,"height":9}},{"id":"eeef6062-e9de-4e16-b797-017e80c48223","block_type":"box","text":"n","page_number":2,"box":{"x":182,"y":83,"width":14,"height":10}},{"id":"ab149f57-5ae4-4c7c-a1c3-258b24539e79","block_type":"box","text":"n","page_number":2,"box":{"x":182,"y":99,"width":14,"height":10}},{"id":"794858f7-1532-4373-8913-65945d7838d2","block_type":"box","text":"n","page_number":2,"box":{"x":182,"y":115,"width":14,"height":10}},{"id":"a1777ee1-a997-4f4c-848f-9c3ecd99d93b","block_type":"box","text":"n","page_number":2,"box":{"x":182,"y":131,"width":14,"height":10}},{"id":"5ad4db29-94da-4b83-8b57-2952cc452f51","block_type":"box","text":"Investment is subject to documentation. The Annual Reports and Financial","page_number":2,"box":{"x":29,"y":456,"width":434,"height":9}},{"id":"1124b6c0-e2f5-4bb0-92f4-abf3de5cab7d","block_type":"box","text":"Statements, AIFMD art. 23 Investor Disclosure Document and PRIIPs Key","page_number":2,"box":{"x":29,"y":467,"width":424,"height":8}},{"id":"79fe5498-11dd-4f36-afe5-ee4f81168baa","block_type":"box","text":"Information Document can be obtained free of charge in English from","page_number":2,"box":{"x":29,"y":477,"width":405,"height":9}},{"id":"3318d089-4d6a-449f-a6a2-8601d9779122","block_type":"box","text":"JPMorgan Funds Limited or","page_number":2,"box":{"x":29,"y":487,"width":161,"height":9}},{"id":"18f98fd5-c3e8-4da0-9ee1-856e174dbeb4","block_type":"box","text":"www.jpmam.co.uk/investmenttrust","page_number":2,"box":{"x":193,"y":487,"width":212,"height":9}},{"id":"b8a2c70d-2cd4-4d09-b50a-38f49bd371c9","block_type":"box","text":".","page_number":2,"box":{"x":406,"y":493,"width":1,"height":1}},{"id":"e017e74b-6e35-4b46-8888-7ce9823dd73a","block_type":"box","text":"This material should not be considered as advice or an investment","page_number":2,"box":{"x":29,"y":499,"width":364,"height":6}},{"id":"cf914bbc-2992-4608-b871-f5e0f570074d","block_type":"box","text":"recommendation. Company holdings and performance are likely to have changed","page_number":2,"box":{"x":30,"y":509,"width":448,"height":8}},{"id":"b4d46ad4-9286-4281-a49b-029652ed96cf","block_type":"box","text":"since the report date. No provider of information presented here, including index","page_number":2,"box":{"x":29,"y":520,"width":443,"height":7}},{"id":"07cb6dc3-25cc-40ad-8856-8359f3622b77","block_type":"box","text":"and ratings information, is liable for damages or losses of any type arising from","page_number":2,"box":{"x":29,"y":530,"width":442,"height":8}},{"id":"e98ef795-c4a8-40ee-94af-813da82cf80f","block_type":"box","text":"use of their information.","page_number":2,"box":{"x":29,"y":540,"width":133,"height":6}},{"id":"791a4e19-ffde-4744-bb85-3962dcd43312","block_type":"box","text":"To the extent permitted by applicable law, we may record telephone calls and","page_number":2,"box":{"x":29,"y":551,"width":421,"height":7}},{"id":"ebf377d4-fe48-4dd7-9082-ee720dfc1701","block_type":"box","text":"monitor electronic communications to comply with our legal and regulatory","page_number":2,"box":{"x":30,"y":561,"width":416,"height":8}},{"id":"1ec1b7e3-9c3f-4936-8a78-59cddad80713","block_type":"box","text":"obligations and internal policies. Personal data will be collected, stored and","page_number":2,"box":{"x":29,"y":572,"width":416,"height":7}},{"id":"81f15afe-8a2b-49e5-a1bc-9c3ea4122869","block_type":"box","text":"processed by J.P. Morgan Asset Management in accordance with our EMEA","page_number":2,"box":{"x":30,"y":582,"width":415,"height":8}},{"id":"da580218-67fd-400a-aa54-55f733ecc67c","block_type":"box","text":"Privacy Policy","page_number":2,"box":{"x":30,"y":593,"width":74,"height":7}},{"id":"1bb7a772-d94c-4a1c-91c8-405ea1ba0ea2","block_type":"box","text":"www.jpmorgan.com/emea","page_number":2,"box":{"x":107,"y":593,"width":146,"height":7}},{"id":"372c476f-a11b-42da-89a8-457da6b69a3f","block_type":"box","text":"-","page_number":2,"box":{"x":254,"y":596,"width":3,"height":1}},{"id":"de14a483-4e1b-44a9-ac01-fb367b1a8ab1","block_type":"box","text":"privacy","page_number":2,"box":{"x":259,"y":593,"width":38,"height":7}},{"id":"f2cfc8d4-bcb6-49a7-bed4-6e73236d84e9","block_type":"box","text":"-","page_number":2,"box":{"x":298,"y":596,"width":3,"height":1}},{"id":"31d74da3-8703-4415-aaa7-afd382ff8e0f","block_type":"box","text":"policy","page_number":2,"box":{"x":303,"y":593,"width":31,"height":7}},{"id":"0732933b-821d-4db4-8ddb-6e9cc55b8b0d","block_type":"box","text":"Risk Indicator: The risk indicator assumes you keep the product for 5 year(s). The","page_number":2,"box":{"x":30,"y":605,"width":438,"height":8}},{"id":"7bc27d74-e4ec-45f4-b67a-8578d1401109","block_type":"box","text":"risk of the product may be significantly higher if held for less than the","page_number":2,"box":{"x":30,"y":616,"width":382,"height":7}},{"id":"ecc0e629-f901-45eb-b013-62cf74940d28","block_type":"box","text":"recommended holding period.","page_number":2,"box":{"x":30,"y":626,"width":163,"height":8}},{"id":"7241c211-7fde-47d7-b007-0b24341ba551","block_type":"box","text":"Ongoing charges are the management fee and all other operating expenses,","page_number":2,"box":{"x":29,"y":638,"width":420,"height":8}},{"id":"7b471ea8-e5ec-40ea-a294-213fb002b7bf","block_type":"box","text":"excluding interest charges on any borrowing and any performance fee payable","page_number":2,"box":{"x":29,"y":649,"width":435,"height":8}},{"id":"83164d75-438a-4f67-9f35-63fafd757f07","block_type":"box","text":"expressed as a percentage of the average daily net assets during the year. All the","page_number":2,"box":{"x":29,"y":659,"width":444,"height":8}},{"id":"fed9790f-2c38-4434-916a-23f385a7801a","block_type":"box","text":"figures are for the previous financial year unless where indicated. For information","page_number":2,"box":{"x":29,"y":670,"width":448,"height":8}},{"id":"a3cb21dc-922a-42e6-ab71-18029c18e421","block_type":"box","text":"on ongoing charges please refer to the Company's Annual Report and Accounts.","page_number":2,"box":{"x":29,"y":680,"width":443,"height":8}},{"id":"4d0a1839-7cab-4fae-a72e-39a487bc7af4","block_type":"box","text":"https://mercantileit.co.uk","page_number":2,"box":{"x":30,"y":691,"width":140,"height":7}},{"id":"7fbdffbe-9575-4b28-aebb-063d5a9b8498","block_type":"box","text":"Performance information","page_number":2,"box":{"x":29,"y":706,"width":136,"height":6}},{"id":"281e5b8c-f723-41c1-b3be-b66f5a95e4a2","block_type":"box","text":"Source: J.P. Morgan Asset Management/Morningstar. Net asset value","page_number":2,"box":{"x":29,"y":719,"width":385,"height":8}},{"id":"7fa53869-4dde-4f4b-b769-b66602213cdd","block_type":"box","text":"performance (NAV) data has been calculated on a NAV to NAV basis, including","page_number":2,"box":{"x":30,"y":729,"width":430,"height":8}},{"id":"cef8be2d-bd42-4ebb-8a21-cbc8dcc989e8","block_type":"box","text":"ongoing charges and any applicable fees, with any income reinvested, in GBP.","page_number":2,"box":{"x":29,"y":740,"width":428,"height":7}},{"id":"31442542-6ae0-4b0b-9c4b-ba59fbf6a30c","block_type":"box","text":"NAV is the cum income NAV with debt at fair value, diluted for treasury and/or","page_number":2,"box":{"x":30,"y":752,"width":430,"height":8}},{"id":"af31676e-8623-4891-bcd6-7ec0a5edae57","block_type":"box","text":"subscription shares if applicable, with any income reinvested.Share price","page_number":2,"box":{"x":29,"y":763,"width":399,"height":7}},{"id":"1796beaf-301f-4553-9982-98110c4bf5a9","block_type":"box","text":"performance figures are calculated on a mid market basis in GBP with income","page_number":2,"box":{"x":30,"y":773,"width":426,"height":8}},{"id":"be2f0877-0f7d-477a-ae9f-573ff9c5411e","block_type":"box","text":"reinvested on the ex","page_number":2,"box":{"x":30,"y":784,"width":108,"height":6}},{"id":"2f0b6d5a-c8e3-4486-94c6-4107109bfe45","block_type":"box","text":"-","page_number":2,"box":{"x":138,"y":787,"width":4,"height":1}},{"id":"4765e992-296e-4c7a-969a-2b9c4835e906","block_type":"box","text":"dividend date.The performance of the company's portfolio, or","page_number":2,"box":{"x":143,"y":784,"width":339,"height":7}},{"id":"6f069386-28c4-4aab-b909-a72cafc4c0a4","block_type":"box","text":"NAV performance, is not the same as share price performance and shareholders","page_number":2,"box":{"x":30,"y":794,"width":440,"height":8}},{"id":"e5a28a11-ed1a-4d3c-ac4e-cde4389c3905","block_type":"box","text":"may not realise returns which are the same as NAV performance.","page_number":2,"box":{"x":30,"y":804,"width":354,"height":8}},{"id":"d2fe64d8-071e-4abd-999e-5a1abec6600e","block_type":"box","text":"Prospective dividend yield","page_number":2,"box":{"x":29,"y":817,"width":140,"height":8}},{"id":"518d15e5-1089-46bb-9c32-2fda3fe032b9","block_type":"box","text":"is for the investment trust's current financial year. It is","page_number":2,"box":{"x":174,"y":817,"width":296,"height":8}},{"id":"ba61dc4f-e32e-45a7-a9c9-465be727f38c","block_type":"box","text":"indicative only and based on the latest month end mid","page_number":2,"box":{"x":29,"y":827,"width":300,"height":8}},{"id":"6fa62d5d-3067-4ea3-8c87-7a951e2665ea","block_type":"box","text":"-","page_number":2,"box":{"x":330,"y":831,"width":4,"height":1}},{"id":"c63e5a1d-afb4-4617-bbb1-5229a5826c14","block_type":"box","text":"market price and the","page_number":2,"box":{"x":335,"y":827,"width":113,"height":8}},{"id":"6a9e9ebe-4636-44f9-b676-cb9b4a4855d4","block_type":"box","text":"declared and net prospective dividends for the current financial year.","page_number":2,"box":{"x":29,"y":838,"width":378,"height":8}},{"id":"88a751d2-3ab1-4f6e-b663-6bd499f45470","block_type":"box","text":"Holdings information","page_number":2,"box":{"x":29,"y":854,"width":115,"height":7}},{"id":"b7175c5d-7a67-42d5-8ce6-34c21ac24540","block_type":"box","text":"Market Cap excludes cash.","page_number":2,"box":{"x":30,"y":866,"width":144,"height":8}},{"id":"59a03205-c123-4e2e-a670-8d412e87274d","block_type":"box","text":"Information Sources","page_number":2,"box":{"x":29,"y":876,"width":111,"height":7}},{"id":"fe848b61-8413-483b-83a5-27530bdda1cf","block_type":"box","text":"Key risks","page_number":2,"box":{"x":34,"y":236,"width":65,"height":10}},{"id":"61b9087b-8562-44fd-b0e0-fb175aa2b953","block_type":"box","text":"External factors may cause an entire asset class to decline in value.","page_number":2,"box":{"x":40,"y":250,"width":407,"height":8}},{"id":"f123b649-2db0-4699-96df-9a833bb24422","block_type":"box","text":"Prices and values of all shares or all bonds and income could decline at","page_number":2,"box":{"x":40,"y":260,"width":428,"height":7}},{"id":"bf957c76-8a21-4c66-8770-f3f8dadcb900","block_type":"box","text":"the same time, or fluctuate in response to the performance of individual","page_number":2,"box":{"x":39,"y":270,"width":433,"height":9}},{"id":"6b6662b2-ead1-41cb-aa0b-eec94b402145","block_type":"box","text":"companies and general market conditions.","page_number":2,"box":{"x":39,"y":281,"width":259,"height":8}},{"id":"c8100cbf-de6f-4585-8dd1-c4f655276cde","block_type":"box","text":"This Company may utilise gearing (borrowing) which will exaggerate","page_number":2,"box":{"x":39,"y":291,"width":403,"height":9}},{"id":"935bcaac-8536-4ec6-930c-819cf1729537","block_type":"box","text":"market movements both up and down.","page_number":2,"box":{"x":40,"y":302,"width":231,"height":8}},{"id":"6c9a6a44-47b2-45ca-8bf1-2a60aa115bcd","block_type":"box","text":"This Company may also invest in smaller companies which may","page_number":2,"box":{"x":39,"y":312,"width":382,"height":9}},{"id":"337a5e88-8235-41fe-b66b-4338e333f7a7","block_type":"box","text":"increase its risk profile.","page_number":2,"box":{"x":40,"y":323,"width":137,"height":8}},{"id":"38e01c06-b481-4aa7-bff0-afabdd9cd2ab","block_type":"box","text":"The share price may trade at a discount to the Net Asset Value of the","page_number":2,"box":{"x":39,"y":333,"width":412,"height":9}},{"id":"5dc21fb1-57ba-41ba-8f1c-722149f7ec7c","block_type":"box","text":"Company.","page_number":2,"box":{"x":39,"y":343,"width":60,"height":9}},{"id":"229236fc-019a-4967-8b47-47b1002f2e41","block_type":"box","text":"The single market in which the Company primarily invests, in this case","page_number":2,"box":{"x":39,"y":354,"width":423,"height":9}},{"id":"ed827076-fda8-4468-b3e0-a41223251aae","block_type":"box","text":"the UK, may be subject to particular political and economic risks and, as","page_number":2,"box":{"x":39,"y":364,"width":431,"height":9}},{"id":"3b583a41-c0a8-4dbf-816d-f52c37bbaf95","block_type":"box","text":"a result, the Company may be more volatile than more broadly diversified","page_number":2,"box":{"x":39,"y":375,"width":432,"height":8}},{"id":"2bca1085-5410-41eb-b58f-c54cd2980cd8","block_type":"box","text":"companies.","page_number":2,"box":{"x":39,"y":385,"width":70,"height":9}},{"id":"573d0e04-c1d8-4179-858d-1f151465f049","block_type":"box","text":"Companies listed on AIM tend to be smaller and early stage companies","page_number":2,"box":{"x":39,"y":396,"width":423,"height":8}},{"id":"76f59ef7-eb2e-4b75-9ae1-f65c60f01305","block_type":"box","text":"and may carry greater risks than an investment in a Company with a full","page_number":2,"box":{"x":39,"y":406,"width":432,"height":9}},{"id":"24a97f5f-aa51-409b-8e54-0bd13b847b54","block_type":"box","text":"listing on the London Stock Exchange.","page_number":2,"box":{"x":40,"y":416,"width":231,"height":9}},{"id":"2e040118-bb59-437e-b12e-0f95cf57e4c5","block_type":"box","text":"General Disclosures","page_number":2,"box":{"x":29,"y":443,"width":119,"height":6}},{"id":"574fd272-9a27-4571-bea5-533248dc6302","block_type":"box","text":"Company information, including performance calculations and other data, is","page_number":2,"box":{"x":505,"y":229,"width":426,"height":8}},{"id":"2de15e7a-e67a-4221-804f-62cb3a235b1a","block_type":"box","text":"provided by J.P. Morgan Asset Management (the marketing name for the asset","page_number":2,"box":{"x":506,"y":240,"width":431,"height":8}},{"id":"1ede1eb8-5bbc-47f1-aa39-c56a5d82fbfc","block_type":"box","text":"management businesses of JPMorgan Chase & Co. and its affiliates worldwide).","page_number":2,"box":{"x":506,"y":250,"width":437,"height":8}},{"id":"13aa562e-4c66-4e07-903c-f0d98444c8cb","block_type":"box","text":"All data is as at the document date unless indicated otherwise.","page_number":2,"box":{"x":505,"y":261,"width":336,"height":6}},{"id":"0ce9d0f0-3aa2-44d9-9cd9-4fc6ce28f7c1","block_type":"box","text":"©","page_number":2,"box":{"x":506,"y":271,"width":8,"height":6}},{"id":"68be67cb-09af-4d5d-b80b-075e96d6fa43","block_type":"box","text":"2026 Morningstar. All Rights Reserved. The information contained herein: (1) is","page_number":2,"box":{"x":519,"y":271,"width":424,"height":8}},{"id":"57d9f1b7-d2c0-4d25-9e63-b64fc50ce770","block_type":"box","text":"proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not","page_number":2,"box":{"x":506,"y":281,"width":425,"height":8}},{"id":"bb65ae02-eb22-43d6-930c-8d037976cab8","block_type":"box","text":"warranted to be accurate, complete or timely. Neither Morningstar nor its content","page_number":2,"box":{"x":505,"y":292,"width":448,"height":8}},{"id":"875a0137-50f4-4809-937e-6ee390b956b3","block_type":"box","text":"providers are responsible for any damages or losses arising from any use of this","page_number":2,"box":{"x":506,"y":302,"width":441,"height":8}},{"id":"e6a2f0d4-affc-40bb-9fd5-31f77e281b16","block_type":"box","text":"information.","page_number":2,"box":{"x":506,"y":313,"width":67,"height":6}},{"id":"ffbdca21-4545-4840-9f07-b3ee28d52145","block_type":"box","text":"Benchmark Source: FTSE","page_number":2,"box":{"x":506,"y":328,"width":135,"height":7}},{"id":"ec8fb4ba-ecdf-4f23-a9ce-eabf4efc793c","block_type":"box","text":"®","page_number":2,"box":{"x":642,"y":329,"width":8,"height":6}},{"id":"a7a4f2a3-ac4e-42d4-9f8d-66eb9a73225b","block_type":"box","text":"is a trade mark of London Stock Exchange Limited and","page_number":2,"box":{"x":655,"y":328,"width":301,"height":8}},{"id":"75ff9a83-1bb7-4aed-bba4-e5b1af41f926","block_type":"box","text":"The Financial Times Limited and is used by FTSE International Limited under","page_number":2,"box":{"x":505,"y":339,"width":415,"height":8}},{"id":"0b368819-a1e3-4592-bb99-8cf58b8f0748","block_type":"box","text":"license.","page_number":2,"box":{"x":506,"y":349,"width":38,"height":6}},{"id":"e3638e6c-800f-44d6-994c-e40e4474da41","block_type":"box","text":"Issuer","page_number":2,"box":{"x":506,"y":360,"width":31,"height":6}},{"id":"d69eadf5-23e1-43fa-aacc-d735e1860123","block_type":"box","text":"JPMorgan Asset Management (UK) Limited Registered address: 25 Bank Street,","page_number":2,"box":{"x":505,"y":370,"width":429,"height":8}},{"id":"d9f2127a-bced-4cf3-ae0c-ccdadea139a1","block_type":"box","text":"Canary Wharf, London E14 5JP, United Kingdom. Authorised and regulated by the","page_number":2,"box":{"x":505,"y":381,"width":447,"height":7}},{"id":"804930d3-b411-4162-95ce-34c1b1e114bd","block_type":"box","text":"Financial Conduct Authority. Registered in England No. 01161446.","page_number":2,"box":{"x":506,"y":391,"width":353,"height":8}},{"id":"7ebff8cb-2048-481d-9480-6e4f629943bc","block_type":"box","text":"Definitions","page_number":2,"box":{"x":506,"y":418,"width":58,"height":6}},{"id":"8b282f8f-d4cf-4d17-8e83-61fede904318","block_type":"box","text":"FE fundinfo Crown Rating","page_number":2,"box":{"x":506,"y":429,"width":140,"height":7}},{"id":"3cdeb0ac-d8c9-460a-b65c-c98fb741bad3","block_type":"box","text":"are quantitative ratings ranging from one to five","page_number":2,"box":{"x":650,"y":429,"width":268,"height":7}},{"id":"249d9090-d08e-4994-9039-656d23f4c16e","block_type":"box","text":"designed to help investors identify funds which have displayed superior","page_number":2,"box":{"x":505,"y":439,"width":394,"height":8}},{"id":"ef46e539-cdb4-4557-ada7-f0229e2a0f77","block_type":"box","text":"performance in terms of stockpicking, consistency and risk control.","page_number":2,"box":{"x":506,"y":450,"width":367,"height":7}},{"id":"af453fb2-565d-48c0-b820-17ee020ce52e","block_type":"box","text":"FE Crown Fund Ratings are however purely quantitative and backward looking,","page_number":2,"box":{"x":506,"y":470,"width":434,"height":8}},{"id":"7cba4fbe-78bb-452c-a8a9-a0dd27e2fb62","block_type":"box","text":"and, as such, cannot offer any certainty about the future.","page_number":2,"box":{"x":505,"y":481,"width":318,"height":8}},{"id":"ff9e04d8-1fa8-46d4-bb23-77d9efa46878","block_type":"box","text":"FE Trustnet crown rating as at 31 Jul 2026.","page_number":2,"box":{"x":506,"y":502,"width":228,"height":8}},{"id":"7a550741-532d-40fc-8df6-3ddfaf30a786","block_type":"box","text":"Benchmark comparison","page_number":2,"box":{"x":506,"y":512,"width":127,"height":8}},{"id":"a1b521ab-f5dc-4d17-b5f3-72ebb242b60f","block_type":"box","text":"The benchmark is for comparative purposes only.","page_number":2,"box":{"x":636,"y":512,"width":271,"height":8}},{"id":"5ae0d00d-59d8-43cf-bbe7-9e138adae0f7","block_type":"box","text":"Gearing","page_number":2,"box":{"x":505,"y":523,"width":42,"height":7}},{"id":"c388711c-7bb7-4c5d-93fe-ce5d2a582c39","block_type":"box","text":"Gearing represents the excess amount above shareholders´ funds of total","page_number":2,"box":{"x":551,"y":523,"width":405,"height":7}},{"id":"1d51d713-e415-40a0-9f1c-aacce8eb1802","block_type":"box","text":"investments (excluding liquidity fund holdings) expressed as a percentage of the","page_number":2,"box":{"x":506,"y":533,"width":440,"height":8}},{"id":"e3e5edc3-1896-4cd6-8831-983ac0157af7","block_type":"box","text":"shareholders´ funds. If the amount calculated is negative, this is known as a","page_number":2,"box":{"x":505,"y":544,"width":419,"height":7}},{"id":"ff39753e-0dbf-47e9-a506-8b7c9130b9d5","block_type":"box","text":"“","page_number":2,"box":{"x":928,"y":544,"width":3,"height":1}},{"id":"fa36069d-5b2b-4e2a-aaf6-8a60a4f9b8cb","block_type":"box","text":"net","page_number":2,"box":{"x":933,"y":544,"width":16,"height":6}},{"id":"8e11da16-c683-41c7-a2ec-24989ae3ac42","block_type":"box","text":"cash","page_number":2,"box":{"x":505,"y":554,"width":26,"height":6}},{"id":"96ccdcca-f614-48a2-98f3-73370600dde9","block_type":"box","text":"”","page_number":2,"box":{"x":532,"y":554,"width":3,"height":2}},{"id":"77fc63e6-c843-4c8f-be15-2c1e52d79bb4","block_type":"box","text":"position.","page_number":2,"box":{"x":540,"y":554,"width":47,"height":8}},{"id":"08a40893-3c94-492a-8c26-78d7a251e2e2","block_type":"box","text":"Discount/Premium","page_number":2,"box":{"x":506,"y":564,"width":102,"height":6}},{"id":"ba9c4327-d319-44b2-acf6-4f97f5d28a8a","block_type":"box","text":"If the share price of an investment company is lower/higher","page_number":2,"box":{"x":612,"y":564,"width":327,"height":8}},{"id":"d4802133-f79e-4087-a48f-cb3f05916a4c","block_type":"box","text":"than the NAV per share, the company is said to be trading at a discount/premium.","page_number":2,"box":{"x":505,"y":575,"width":454,"height":8}},{"id":"043fbe0a-a05b-44b0-9ac7-a86f419b386d","block_type":"box","text":"The discount/premium is shown as a percentage of the NAV.","page_number":2,"box":{"x":505,"y":585,"width":333,"height":8}},{"id":"0a671dca-1c4f-4c3d-b65d-864955d0c82a","block_type":"box","text":"NAV","page_number":2,"box":{"x":506,"y":596,"width":22,"height":6}},{"id":"a99e04f2-7318-42dd-b4fa-9b6f08fd9741","block_type":"box","text":"The value of investment and cash, including current year revenue, less","page_number":2,"box":{"x":532,"y":596,"width":383,"height":7}},{"id":"79151989-5606-4d1c-b3b9-6c22caacede7","block_type":"box","text":"liabilities (prior charges such as loans, debenture stock and preference shares at","page_number":2,"box":{"x":506,"y":606,"width":442,"height":8}},{"id":"aa044b06-d1ed-4a97-8701-cf5f1d825547","block_type":"box","text":"fair value).","page_number":2,"box":{"x":505,"y":617,"width":57,"height":7}},{"id":"fbf83288-f4cb-488d-8f67-dc241f499663","block_type":"box","text":"Cash","page_number":2,"box":{"x":505,"y":627,"width":26,"height":6}},{"id":"deba7133-ce54-45ce-b0db-fa1267589e27","block_type":"box","text":"A company","page_number":2,"box":{"x":535,"y":627,"width":61,"height":8}},{"id":"4974f85e-99ed-48a9-9634-f75d51ee11e0","block_type":"box","text":"’","page_number":2,"box":{"x":597,"y":627,"width":2,"height":2}},{"id":"82ce1c54-a410-494d-a993-c5f255ac5613","block_type":"box","text":"s net exposure to cash / cash equivalents [includes investment in","page_number":2,"box":{"x":600,"y":627,"width":358,"height":8}},{"id":"b97374fa-3150-45b2-9dbf-1b7b34aa693d","block_type":"box","text":"liquidity funds and treasury stocks if held] expressed as a percentage of","page_number":2,"box":{"x":506,"y":637,"width":396,"height":8}},{"id":"fad1e92f-c50c-4a09-964f-b09d713f3d20","block_type":"box","text":"shareholders funds after any offset against its gearing.","page_number":2,"box":{"x":505,"y":648,"width":306,"height":8}},{"id":"2060fc44-1ee1-4c78-b41f-c3f58904a51d","block_type":"box","text":"Correlation","page_number":2,"box":{"x":505,"y":658,"width":60,"height":6}},{"id":"49295cdf-c6f5-4d29-9d08-830904a616cc","block_type":"box","text":"measures the strength and direction of the relationship between","page_number":2,"box":{"x":570,"y":658,"width":352,"height":8}},{"id":"68b13ebb-3293-4339-898f-cb8944e01e9c","block_type":"box","text":"movements in fund and benchmark returns. A correlation of 1.00 indicates that","page_number":2,"box":{"x":506,"y":669,"width":434,"height":6}},{"id":"da081b73-76b3-4f9e-95f2-4737366f8794","block_type":"box","text":"fund and benchmark returns move in lockstep in the same direction.","page_number":2,"box":{"x":505,"y":679,"width":374,"height":8}},{"id":"79c44b95-1aac-4dbf-88ab-81b0ec561824","block_type":"box","text":"Alpha (%)","page_number":2,"box":{"x":505,"y":690,"width":48,"height":7}},{"id":"e627686b-af95-4888-a0eb-5dd5fd9d516b","block_type":"box","text":"a measure of excess return generated by a manager compared to the","page_number":2,"box":{"x":557,"y":690,"width":380,"height":7}},{"id":"361d0611-1476-450d-a8b0-d95f450c32fe","block_type":"box","text":"benchmark. An alpha of 1.00 indicates that a fund has outperformed its","page_number":2,"box":{"x":506,"y":700,"width":396,"height":8}},{"id":"6c4cc637-a0a4-400a-84e9-01d67d01718c","block_type":"box","text":"benchmark by 1%.","page_number":2,"box":{"x":506,"y":710,"width":97,"height":8}},{"id":"9520a460-e5b1-4fdb-9650-074bb65d79b5","block_type":"box","text":"Beta","page_number":2,"box":{"x":506,"y":721,"width":22,"height":6}},{"id":"faac8d5f-5297-49b2-b921-a6e86facbdb8","block_type":"box","text":"a measure of a fund","page_number":2,"box":{"x":532,"y":721,"width":111,"height":6}},{"id":"56a2d778-90f1-4447-92e0-285ad72d73e3","block_type":"box","text":"’","page_number":2,"box":{"x":645,"y":721,"width":1,"height":2}},{"id":"4accbc22-ca91-4dbf-9e3f-7ff2ae61939f","block_type":"box","text":"s sensitivity to market movements (as represented by the","page_number":2,"box":{"x":647,"y":721,"width":310,"height":8}},{"id":"36993aa4-c101-4889-a7b3-684072c38dbe","block_type":"box","text":"fund","page_number":2,"box":{"x":505,"y":731,"width":25,"height":6}},{"id":"b5efdefd-6a0d-4300-8823-3e1df08dea32","block_type":"box","text":"’","page_number":2,"box":{"x":532,"y":731,"width":2,"height":2}},{"id":"9dc74ffc-a5d8-4f8e-80be-9b10fb16dacc","block_type":"box","text":"s benchmark). A beta of 1.10 suggests the fund could perform 10% better than","page_number":2,"box":{"x":535,"y":731,"width":425,"height":8}},{"id":"ac98da66-1b02-4abd-ab98-34f3f305478c","block_type":"box","text":"the benchmark in up markets and 10% worse in down markets, assuming all other","page_number":2,"box":{"x":505,"y":742,"width":450,"height":8}},{"id":"11c93381-1ae9-4699-b956-0b47f88ccd57","block_type":"box","text":"factors remain constant.Usually the higher betas represent riskier investments.","page_number":2,"box":{"x":505,"y":752,"width":432,"height":8}},{"id":"3e2b9d06-b3be-45b2-98e0-986ab141dea7","block_type":"box","text":"Annualised volatility (%)","page_number":2,"box":{"x":505,"y":763,"width":126,"height":7}},{"id":"ae36199c-44ce-4297-8311-c5ff73a917ab","block_type":"box","text":"measures the extent to which returns vary up and down","page_number":2,"box":{"x":636,"y":763,"width":305,"height":7}},{"id":"43e7a9ed-4baa-4033-a299-0804515350a3","block_type":"box","text":"over a given period.","page_number":2,"box":{"x":505,"y":773,"width":107,"height":8}},{"id":"d1be0539-8985-4125-90d0-1870608ef648","block_type":"box","text":"Sharpe ratio","page_number":2,"box":{"x":505,"y":784,"width":66,"height":7}},{"id":"90fbf065-8a2a-45c7-ae71-326407fd7dc3","block_type":"box","text":"performance of an investment adjusting for the amount of risk taken","page_number":2,"box":{"x":575,"y":784,"width":379,"height":7}},{"id":"ef360f84-fa44-4591-8274-b591485b0447","block_type":"box","text":"(compared a risk","page_number":2,"box":{"x":506,"y":794,"width":91,"height":8}},{"id":"70d10031-b3fe-4bb4-b43e-8f3ed438d519","block_type":"box","text":"-","page_number":2,"box":{"x":597,"y":798,"width":3,"height":0}},{"id":"05118388-751b-4847-a35e-18b69e4cc09e","block_type":"box","text":"free investment). The higher the Sharpe ratio the better the","page_number":2,"box":{"x":601,"y":794,"width":320,"height":8}},{"id":"735733d0-2a4a-4b04-83b0-d3537d68b498","block_type":"box","text":"returns compared to the risk taken.","page_number":2,"box":{"x":506,"y":804,"width":192,"height":8}},{"id":"8118d334-1076-4701-b025-7a4477450b67","block_type":"box","text":"Tracking error (%)","page_number":2,"box":{"x":505,"y":815,"width":92,"height":8}},{"id":"2c686580-350c-419f-a360-33d38219f2f0","block_type":"box","text":"measures how much a fund","page_number":2,"box":{"x":602,"y":815,"width":152,"height":6}},{"id":"62dbc561-0e41-4299-9498-b26e98a0703c","block_type":"box","text":"’","page_number":2,"box":{"x":755,"y":815,"width":2,"height":2}},{"id":"bbdd5ede-b04c-4b35-a757-88adba4bf20b","block_type":"box","text":"s returns deviate from those of the","page_number":2,"box":{"x":758,"y":815,"width":190,"height":6}},{"id":"df9802aa-494c-42fa-bcc3-7408a51c4dfd","block_type":"box","text":"benchmark. The lower the number the closer the fund","page_number":2,"box":{"x":506,"y":825,"width":290,"height":6}},{"id":"bbbd6fbb-3c7a-42dd-b544-3ec6e6661f7c","block_type":"box","text":"’","page_number":2,"box":{"x":798,"y":825,"width":2,"height":2}},{"id":"063e1408-b739-4ae0-9333-5fce6a6d1304","block_type":"box","text":"s historic performance has","page_number":2,"box":{"x":801,"y":825,"width":146,"height":8}},{"id":"b841cc8d-8504-4e58-8962-abe23ed26821","block_type":"box","text":"followed its benchmark.","page_number":2,"box":{"x":505,"y":836,"width":131,"height":6}},{"id":"710f76cd-8f7d-4d58-9dac-5f7343941394","block_type":"box","text":"Information ratio","page_number":2,"box":{"x":506,"y":846,"width":91,"height":6}},{"id":"53b7a2a0-16a7-48b5-b94a-8aae0d1f8a95","block_type":"box","text":"measures if a manager is outperforming or underperforming the","page_number":2,"box":{"x":602,"y":846,"width":354,"height":8}},{"id":"b5df7c75-a3d7-42f1-a679-9ad46da1caf8","block_type":"box","text":"benchmark and accounts for the risk taken to achieve the returns. A manager who","page_number":2,"box":{"x":506,"y":857,"width":452,"height":7}},{"id":"71254075-ce46-4080-b350-8da220014157","block_type":"box","text":"outperforms a benchmark by 2% p.a. will have a higher IR than a manager with the","page_number":2,"box":{"x":505,"y":867,"width":456,"height":8}},{"id":"60b7235b-22a8-44b2-8501-ca8192a0e1d7","block_type":"box","text":"same outperformance but who takes more risk.","page_number":2,"box":{"x":505,"y":878,"width":259,"height":7}},{"id":"58376fc9-50ee-432e-9cc9-041fa7110de2","block_type":"box","text":"Page 2 of 2 | Factsheet","page_number":2,"box":{"x":29,"y":21,"width":119,"height":8}},{"id":"97c32827-6486-4ce9-b4c9-d4e9d7506c13","block_type":"box","text":"| 31 August 2026","page_number":2,"box":{"x":152,"y":21,"width":87,"height":8}},{"id":"83b3a5c1-445b-4ad7-98aa-e8c00bffb22c","block_type":"box","text":"The Mercantile Investment Trust plc","page_number":2,"box":{"x":772,"y":21,"width":194,"height":8}},{"id":"819c4a0c-2429-4501-8a75-5e697778c69a","block_type":"box","text":"0903c02a823c9316","page_number":2,"box":{"x":29,"y":947,"width":102,"height":6}}],"unit":"per_mille","page_width":595,"page_height":842,"attributes":{"chunk_type":"page_range","start_page":1,"end_page":2}},"source":{"type":"Model","id":"github:dorsalhub/pdf-extractor","version":"0.5.0","execution_id":"1a3148b6-a50a-4f91-8fdf-dcd7f5e5cd04"},"user_id":1000002,"date_created":"2026-10-08T01:14:19.225000Z","date_modified":"2026-10-08T01:14:19.225000Z","private":false}