{"annotation_id":"7496e0d4-955a-4bec-b04c-215917a49849","file_hash":"aae97fab9d5cd737c52405158c1aca0dfc97f4034b2ac1bf3afd2c857e256849","schema_id":"open/document-extraction","schema_version":"0.5.0","record":{"extraction_type":"boxes","producer":"pdf-extractor-v0.5.0","blocks":[{"id":"e2856c5f-9a0b-4fb1-9634-f2f26ac18dbd","block_type":"box","text":"V","page_number":1,"box":{"x":66,"y":65,"width":17,"height":14}},{"id":"5f2bf8d0-0621-4b20-861a-2112e324f5ba","block_type":"box","text":"T H","page_number":1,"box":{"x":83,"y":65,"width":39,"height":14}},{"id":"bd16d638-79aa-4b28-b14d-3ec39bf1a518","block_type":"box","text":"a","page_number":1,"box":{"x":125,"y":68,"width":12,"height":11}},{"id":"9507adff-44ac-40b1-aebb-f2d0b068940a","block_type":"box","text":"lo","page_number":1,"box":{"x":141,"y":64,"width":29,"height":15}},{"id":"86f38894-890a-46a3-9c57-6927e68848c3","block_type":"box","text":"ASIA","page_number":1,"box":{"x":170,"y":65,"width":58,"height":14}},{"id":"68eccec8-d9d3-4f1f-b910-4b14eefdd42d","block_type":"box","text":"GROWTH","page_number":1,"box":{"x":236,"y":65,"width":115,"height":14}},{"id":"aff429dc-ab87-4980-a8f5-6c582a8830f1","block_type":"box","text":"FUND","page_number":1,"box":{"x":362,"y":65,"width":70,"height":14}},{"id":"314ddfd1-d456-46d8-9dfe-85650b7d0269","block_type":"box","text":"August","page_number":1,"box":{"x":65,"y":94,"width":68,"height":14}},{"id":"2ec7db9e-7afd-4db5-a406-0c928690bb95","block_type":"box","text":"2026","page_number":1,"box":{"x":140,"y":94,"width":46,"height":11}},{"id":"80f91f15-6463-4a4f-ad7d-17bb9f66d69f","block_type":"box","text":"Fact Sheet","page_number":1,"box":{"x":193,"y":93,"width":99,"height":12}},{"id":"1af42d33-7851-4ada-be4b-db7192bdcb81","block_type":"box","text":"All Data at 12.00 GMT","page_number":1,"box":{"x":705,"y":120,"width":123,"height":7}},{"id":"41d6d243-c7f0-4874-bac4-5938813d9755","block_type":"box","text":"28","page_number":1,"box":{"x":830,"y":121,"width":14,"height":6}},{"id":"dcc4a927-c1d7-4336-8d1d-fd056695e22e","block_type":"box","text":"th","page_number":1,"box":{"x":844,"y":120,"width":6,"height":4}},{"id":"1e8dd975-e3a5-4e79-bc4a-407c624623ed","block_type":"box","text":"August","page_number":1,"box":{"x":853,"y":121,"width":39,"height":7}},{"id":"cda264aa-3aac-47a4-8743-1e57716e2377","block_type":"box","text":"202","page_number":1,"box":{"x":895,"y":121,"width":20,"height":6}},{"id":"9856c70c-deb5-4f27-a093-901b3d5057a8","block_type":"box","text":"6","page_number":1,"box":{"x":916,"y":121,"width":6,"height":6}},{"id":"ec49a88d-bc72-4ad2-a458-e0cdd6843b4f","block_type":"box","text":"FOR PROFESSIONAL INVESTORS AND THEIR ADVISORS ONLY","page_number":1,"box":{"x":56,"y":955,"width":342,"height":5}},{"id":"c733239c-774a-447c-8c8a-0e9fc504af72","block_type":"box","text":"Halo Global Asset Management Ltd","page_number":1,"box":{"x":474,"y":941,"width":195,"height":8}},{"id":"d55a1e6c-5475-4593-9ba7-fb60b1eaf37a","block_type":"box","text":",","page_number":1,"box":{"x":671,"y":946,"width":1,"height":3}},{"id":"012642c8-3ab9-4839-97a7-88f2c4a9a88d","block_type":"box","text":"Wades House","page_number":1,"box":{"x":677,"y":941,"width":76,"height":6}},{"id":"8a5ca781-a092-404e-b84f-9cd603a4276c","block_type":"box","text":",","page_number":1,"box":{"x":754,"y":946,"width":2,"height":3}},{"id":"83c98b50-5c50-4055-ae7f-9ada69cdc4aa","block_type":"box","text":"Barton Stacey","page_number":1,"box":{"x":761,"y":941,"width":78,"height":8}},{"id":"f3855d04-b3f0-4457-ac29-e8c3b02420e0","block_type":"box","text":",","page_number":1,"box":{"x":840,"y":946,"width":1,"height":3}},{"id":"39a763a4-d8ad-4c52-b14b-f16cf3a1f64e","block_type":"box","text":"SO21","page_number":1,"box":{"x":846,"y":941,"width":28,"height":6}},{"id":"1bcfefe3-5edf-40ac-b4eb-b644172582f0","block_type":"box","text":"3RJ","page_number":1,"box":{"x":880,"y":941,"width":20,"height":6}},{"id":"65eba4ba-1c73-423b-bdef-a583577c97b3","block_type":"box","text":"Tel","page_number":1,"box":{"x":473,"y":960,"width":16,"height":6}},{"id":"4f6396b9-990e-449b-acb9-9934d25ebc89","block_type":"box","text":":","page_number":1,"box":{"x":491,"y":962,"width":1,"height":4}},{"id":"e4859c6b-9241-4541-861e-fb299b7283d6","block_type":"box","text":"+44(0)","page_number":1,"box":{"x":501,"y":960,"width":33,"height":8}},{"id":"921ffcac-3bf3-4b36-a09b-e53a8f62f59f","block_type":"box","text":"7769885127","page_number":1,"box":{"x":538,"y":960,"width":64,"height":6}},{"id":"f21dfc72-8b78-4013-b05b-9908bdb7903a","block_type":"box","text":"Email:","page_number":1,"box":{"x":641,"y":955,"width":34,"height":6}},{"id":"e99e243b-762e-473e-99df-a11ee7124c30","block_type":"box","text":"Francis Horn","page_number":1,"box":{"x":680,"y":955,"width":65,"height":6}},{"id":"4b99b261-e74f-4809-b5b3-19cce98603c1","block_type":"box","text":"fh@h","page_number":1,"box":{"x":649,"y":965,"width":27,"height":8}},{"id":"8327b980-2e2d-4899-8125-864c46afb3e8","block_type":"box","text":"gamuk","page_number":1,"box":{"x":677,"y":965,"width":35,"height":8}},{"id":"6f76e78c-eabb-474f-910c-652d12de94a1","block_type":"box","text":".com","page_number":1,"box":{"x":713,"y":966,"width":24,"height":5}},{"id":"8b4c88b6-2167-4770-9ed7-0e039eea6b46","block_type":"box","text":"Web:","page_number":1,"box":{"x":777,"y":960,"width":27,"height":6}},{"id":"c1216ab5-490b-4563-8165-365a448a3ef8","block_type":"box","text":"www.hgamuk.","page_number":1,"box":{"x":808,"y":960,"width":71,"height":7}},{"id":"8613168e-d440-492a-b601-47850ddd5bd2","block_type":"box","text":"com","page_number":1,"box":{"x":880,"y":961,"width":21,"height":5}},{"id":"fc561a64-3ee2-413d-9022-1b1172d4d1dc","block_type":"box","text":"Portfolio Description","page_number":1,"box":{"x":70,"y":149,"width":161,"height":10}},{"id":"8d2a92fe-ebd3-458b-b0d3-397406bb135a","block_type":"box","text":"The VT Halo","page_number":1,"box":{"x":65,"y":177,"width":81,"height":8}},{"id":"3ae2b32c-2fac-44e5-acf6-594f875e01fa","block_type":"box","text":"Asia Growth","page_number":1,"box":{"x":151,"y":177,"width":82,"height":8}},{"id":"2c47c41f-ff03-49e5-87b8-80f01cfc9535","block_type":"box","text":"Fund aims to achieve an annualised total return before fees of","page_number":1,"box":{"x":240,"y":177,"width":423,"height":8}},{"id":"8990b105-1332-49cd-acb8-7957f4f70f32","block_type":"box","text":"7","page_number":1,"box":{"x":69,"y":192,"width":7,"height":7}},{"id":"14a1196d-9aaa-4545-abf0-3f9df749575a","block_type":"box","text":"-","page_number":1,"box":{"x":77,"y":196,"width":4,"height":1}},{"id":"d1340b8b-ad2f-424e-8438-7dc79237bff0","block_type":"box","text":"11","page_number":1,"box":{"x":83,"y":192,"width":15,"height":7}},{"id":"56fded94-4355-49a1-9867-1fe1c14e80c0","block_type":"box","text":"% over the","page_number":1,"box":{"x":99,"y":191,"width":72,"height":9}},{"id":"3e618ce4-d4f6-4326-81b2-49e3c158da6e","block_type":"box","text":"period of an economic cycle","page_number":1,"box":{"x":177,"y":191,"width":189,"height":10}},{"id":"714cbc36-5a41-402e-abce-ad1ed0d38f22","block_type":"box","text":",","page_number":1,"box":{"x":367,"y":198,"width":3,"height":3}},{"id":"3fd52079-3c25-4393-905b-7086b9f87006","block_type":"box","text":"typically 5","page_number":1,"box":{"x":375,"y":191,"width":68,"height":10}},{"id":"c234d15f-01c6-497e-884d-b23e674403b5","block_type":"box","text":"-","page_number":1,"box":{"x":444,"y":196,"width":4,"height":1}},{"id":"7fe37962-fcc3-4bcb-b630-ffa4cfe0905f","block_type":"box","text":"7 years","page_number":1,"box":{"x":449,"y":192,"width":48,"height":9}},{"id":"e127753b-f157-4728-ab2e-9a5e18629e49","block_type":"box","text":". This will be achieved","page_number":1,"box":{"x":499,"y":191,"width":149,"height":8}},{"id":"5755a640-f5bd-4efd-a4a4-81d69e98d464","block_type":"box","text":"by","page_number":1,"box":{"x":655,"y":191,"width":15,"height":10}},{"id":"9f926005-e8e8-4127-8fc7-bd933f185018","block_type":"box","text":"investing in companies globally which are exposed to the growth of the Asian middle","page_number":1,"box":{"x":69,"y":206,"width":575,"height":10}},{"id":"a3db9086-93f5-4a34-8528-789e49deb5df","block_type":"box","text":"class and the corresponding rise in their consumption.","page_number":1,"box":{"x":69,"y":220,"width":367,"height":10}},{"id":"e80a1c0c-5696-48d3-9a34-59f3493b61e9","block_type":"box","text":"Fund Manager’s Comments","page_number":1,"box":{"x":66,"y":249,"width":190,"height":10}},{"id":"98a6e852-680f-4366-a510-97216a66d7c1","block_type":"box","text":"The Fund (B £ Acc class)","page_number":1,"box":{"x":65,"y":265,"width":171,"height":11}},{"id":"b55c3445-3c67-466e-8d0f-02e19836343c","block_type":"box","text":"rose 2.1%","page_number":1,"box":{"x":245,"y":266,"width":67,"height":8}},{"id":"e66266cb-c52f-42a7-a2f2-3f8af891f853","block_type":"box","text":"for the month","page_number":1,"box":{"x":319,"y":266,"width":98,"height":8}},{"id":"69afd115-4255-4ae9-8c7e-2ea3d4494e00","block_type":"box","text":",","page_number":1,"box":{"x":418,"y":272,"width":3,"height":3}},{"id":"c72a4147-8b4f-4ffa-ade0-b2c12ba0c88a","block_type":"box","text":"driven by better performance from","page_number":1,"box":{"x":429,"y":266,"width":245,"height":10}},{"id":"375fd967-7b62-4ffd-bbb0-69c6f771fb32","block_type":"box","text":"Indonesia and Vietnam. The key issue","page_number":1,"box":{"x":67,"y":280,"width":255,"height":10}},{"id":"c5c667b4-c491-428d-82a1-c244c3d05aa4","block_type":"box","text":"has been the resumed hostilities in the Middle East,","page_number":1,"box":{"x":327,"y":280,"width":347,"height":10}},{"id":"a8dabc28-3eb6-490b-89ae-5a30a5a4ad5c","block_type":"box","text":"which","page_number":1,"box":{"x":66,"y":295,"width":38,"height":8}},{"id":"93eeaa6e-a645-48da-a4ae-2c247de02be7","block_type":"box","text":"resulted in oil prices rising again","page_number":1,"box":{"x":111,"y":295,"width":218,"height":10}},{"id":"a4c01559-8e76-45b7-996b-e91739d52cd3","block_type":"box","text":". Brent","page_number":1,"box":{"x":332,"y":295,"width":49,"height":8}},{"id":"024afa75-97d4-4f7e-bd1f-b0e5a8b93249","block_type":"box","text":",","page_number":1,"box":{"x":382,"y":301,"width":2,"height":3}},{"id":"f234e83f-ff0a-4e29-844c-270844afe8e0","block_type":"box","text":"having dipped down to $79","page_number":1,"box":{"x":391,"y":294,"width":185,"height":11}},{"id":"7d570568-6bfb-4c24-9047-2f446acb87fa","block_type":"box","text":", climbed back","page_number":1,"box":{"x":578,"y":295,"width":97,"height":9}},{"id":"b0045045-43ba-4a67-8199-3b93ba070860","block_type":"box","text":"to $90","page_number":1,"box":{"x":65,"y":308,"width":43,"height":11}},{"id":"b88ec78d-e973-4796-bded-f5bfbedb27c5","block_type":"box","text":". Asia is perceived as v","page_number":1,"box":{"x":110,"y":309,"width":151,"height":10}},{"id":"d32716bf-4d85-432b-b383-19f9f0dc50c7","block_type":"box","text":"ulnerable","page_number":1,"box":{"x":262,"y":309,"width":63,"height":8}},{"id":"a6a29eac-fcf0-4971-8d62-29b82ac00bf7","block_type":"box","text":"to higher oil prices, with most countries being a net","page_number":1,"box":{"x":329,"y":309,"width":346,"height":10}},{"id":"6d004c49-e308-4637-9be5-cffa7b03bc03","block_type":"box","text":"importer and historically","page_number":1,"box":{"x":66,"y":324,"width":168,"height":10}},{"id":"16f01506-de82-46b0-b32f-0438faeb7680","block_type":"box","text":"most of","page_number":1,"box":{"x":241,"y":324,"width":52,"height":8}},{"id":"3b1fd8fa-12b2-4b3d-9b23-bfbe271d58b9","block_type":"box","text":"the imports arriv","page_number":1,"box":{"x":297,"y":324,"width":116,"height":10}},{"id":"43d85ec3-162a-40de-893c-a858c62781c6","block_type":"box","text":"ing","page_number":1,"box":{"x":414,"y":324,"width":19,"height":10}},{"id":"2d5a470d-22af-4c98-872f-0ebb490d8575","block_type":"box","text":"from the Middle East.","page_number":1,"box":{"x":439,"y":324,"width":149,"height":8}},{"id":"5c929ceb-eb99-45ca-a2c5-8ce88f6e5100","block_type":"box","text":"We saw","page_number":1,"box":{"x":599,"y":324,"width":53,"height":8}},{"id":"aabe3aa7-f1b1-49b3-ab81-f712f60136f4","block_type":"box","text":"US","page_number":1,"box":{"x":659,"y":324,"width":16,"height":8}},{"id":"a735002b-028e-447d-9fb8-2b8091ac1952","block_type":"box","text":"Treasury bond yields move up to 4.75% and","page_number":1,"box":{"x":65,"y":338,"width":296,"height":10}},{"id":"a33b0196-0a18-4d6a-a016-faecf73d600b","block_type":"box","text":"the stronger upward drift into the month end","page_number":1,"box":{"x":366,"y":338,"width":308,"height":10}},{"id":"2d635825-9586-4bb8-a701-d019a687e30c","block_type":"box","text":"reflects the resilience of US economic growth and","page_number":1,"box":{"x":66,"y":353,"width":342,"height":10}},{"id":"f431832d-6101-4ea8-8635-2fa557f87646","block_type":"box","text":"the follow through of higher oil prices","page_number":1,"box":{"x":414,"y":353,"width":261,"height":10}},{"id":"0350bb45-3248-49b7-b485-20a35fd1ddf5","block_type":"box","text":"to inflation.","page_number":1,"box":{"x":65,"y":367,"width":84,"height":8}},{"id":"6b23ad1c-2254-4da9-bbab-114bc7e6617c","block_type":"box","text":"Treasury Secretary Bessant also announced","page_number":1,"box":{"x":177,"y":367,"width":315,"height":10}},{"id":"38b8fd81-23d2-4e1d-adc8-5c78b15c51f9","block_type":"box","text":"the","page_number":1,"box":{"x":503,"y":367,"width":22,"height":8}},{"id":"3ff3d0fb-5bfc-4f90-88be-72827e812773","block_type":"box","text":"buyback","page_number":1,"box":{"x":536,"y":367,"width":55,"height":10}},{"id":"4a047a4a-4c67-4423-997d-4b8d2339c699","block_type":"box","text":"of","page_number":1,"box":{"x":602,"y":367,"width":13,"height":8}},{"id":"5617a2a9-c0b8-4902-96fd-a377c6f131c0","block_type":"box","text":"30","page_number":1,"box":{"x":625,"y":368,"width":15,"height":7}},{"id":"c6ab1754-ba81-4ce4-bb6f-7c0504ab8749","block_type":"box","text":"-","page_number":1,"box":{"x":641,"y":372,"width":4,"height":1}},{"id":"8afc8175-9ad4-4007-ad29-1bf1d4563671","block_type":"box","text":"year","page_number":1,"box":{"x":646,"y":370,"width":29,"height":7}},{"id":"4ceac7c0-171d-4559-b4c1-b425b9fbb234","block_type":"box","text":"Treasuries, which smacked of","page_number":1,"box":{"x":65,"y":382,"width":201,"height":9}},{"id":"5f8f30f9-1d37-4285-91d6-98083cb0a8e7","block_type":"box","text":"panic in trying to supress rising yields, with the US failing to","page_number":1,"box":{"x":271,"y":382,"width":403,"height":10}},{"id":"d4ff6bbb-3064-4ea2-9bbb-eb3460ae125c","block_type":"box","text":"bring its fiscal deficit under control. This is relevant to Asia, as typically","page_number":1,"box":{"x":66,"y":396,"width":480,"height":10}},{"id":"f6101380-f5f4-423c-b248-a4d32e56db69","block_type":"box","text":"bond yields in Asia","page_number":1,"box":{"x":551,"y":396,"width":124,"height":10}},{"id":"65db5060-2f27-499e-9286-97f19f78e128","block_type":"box","text":"trade at a premium to US Treasuries, so putting upward pressure on their cost of financing.","page_number":1,"box":{"x":65,"y":411,"width":609,"height":10}},{"id":"f18a95cc-fbb2-432f-b61e-f7ca33414545","block_type":"box","text":"Although this announcement","page_number":1,"box":{"x":65,"y":425,"width":197,"height":10}},{"id":"cc0c9a09-85fe-4904-8bdd-3aa426a884f3","block_type":"box","text":"sent the Dollar tumbling against","page_number":1,"box":{"x":266,"y":425,"width":215,"height":10}},{"id":"4dc7971e-b179-4670-b506-91413f2d618f","block_type":"box","text":"currencies","page_number":1,"box":{"x":485,"y":425,"width":69,"height":8}},{"id":"6b00b46b-e765-4d9d-bf86-08ea40e11b29","block_type":"box","text":"around the world","page_number":1,"box":{"x":559,"y":425,"width":115,"height":8}},{"id":"8e62e5ff-c4c4-4d83-9967-294d532c6789","block_type":"box","text":"the spread between US and Asian bond yields","page_number":1,"box":{"x":65,"y":440,"width":315,"height":10}},{"id":"6d73a067-54cb-49d3-ba3f-793e945c6dd0","block_type":"box","text":"actually","page_number":1,"box":{"x":387,"y":440,"width":52,"height":10}},{"id":"3db99c80-4899-4df0-a03e-d08439acef68","block_type":"box","text":"narrowed","page_number":1,"box":{"x":445,"y":440,"width":64,"height":8}},{"id":"8e1f1032-2a86-48eb-9b52-474388b39bab","block_type":"box","text":", so rising bond yields in","page_number":1,"box":{"x":510,"y":440,"width":165,"height":10}},{"id":"af663a25-61d9-4132-a28d-4a7f4026aaa6","block_type":"box","text":"the US is not currently having a","page_number":1,"box":{"x":65,"y":454,"width":212,"height":10}},{"id":"2ba27aab-645e-44b0-947e-a0861aef61ff","block_type":"box","text":"knock","page_number":1,"box":{"x":283,"y":454,"width":39,"height":8}},{"id":"edcc89d6-2c9d-4fee-94cd-d16b59f5410b","block_type":"box","text":"-","page_number":1,"box":{"x":323,"y":459,"width":4,"height":1}},{"id":"3c10b975-255d-442d-8e54-1669ec776376","block_type":"box","text":"on","page_number":1,"box":{"x":328,"y":457,"width":16,"height":5}},{"id":"8d1444d8-788b-40e9-abaa-f24659cd8dc4","block_type":"box","text":"effect in Emerging Asia.","page_number":1,"box":{"x":349,"y":454,"width":159,"height":10}},{"id":"62681bff-1662-4c78-8650-92a99a49e92d","block_type":"box","text":"Indonesia","page_number":1,"box":{"x":67,"y":483,"width":63,"height":8}},{"id":"b0696910-0824-422a-8ef8-5e49b6d204af","block_type":"box","text":"produced strong GDP numbers for Q2 a","page_number":1,"box":{"x":137,"y":483,"width":267,"height":10}},{"id":"a27bf25e-1a97-4472-bea1-2e90995b7a56","block_type":"box","text":"t","page_number":1,"box":{"x":405,"y":484,"width":5,"height":7}},{"id":"1ede0313-5d19-4fd9-bf3a-a52a00d32a83","block_type":"box","text":"5.3%","page_number":1,"box":{"x":415,"y":483,"width":32,"height":8}},{"id":"d7adcd28-5870-4975-8eeb-5d8b70b64869","block_type":"box","text":"above consensus estimates","page_number":1,"box":{"x":452,"y":483,"width":185,"height":8}},{"id":"543f48a0-7676-4f37-8a65-307c66c84ed0","block_type":"box","text":",","page_number":1,"box":{"x":638,"y":490,"width":3,"height":3}},{"id":"7dea49be-671a-4de4-ad9f-18be5041562c","block_type":"box","text":"with","page_number":1,"box":{"x":646,"y":483,"width":29,"height":8}},{"id":"3a41b0b3-8597-4181-93d4-30dd4d717e44","block_type":"box","text":"household spending","page_number":1,"box":{"x":66,"y":498,"width":142,"height":10}},{"id":"4848ab9a-08fd-4def-a164-bca3ae931b62","block_type":"box","text":"and investment driving the growth. President Prabowo also","page_number":1,"box":{"x":220,"y":498,"width":455,"height":10}},{"id":"312e36f8-b84e-4077-a680-b2fe646e4666","block_type":"box","text":"presented his 2027 budget","page_number":1,"box":{"x":66,"y":512,"width":187,"height":10}},{"id":"908bd645-1948-4117-970c-e849abf6a9c4","block_type":"box","text":"address,","page_number":1,"box":{"x":261,"y":512,"width":55,"height":10}},{"id":"2d9392d5-7854-43e3-9686-58c78c1284e6","block_type":"box","text":"and this soothed investor concerns over the fiscal","page_number":1,"box":{"x":324,"y":512,"width":350,"height":8}},{"id":"46f51986-fc26-4e83-8c71-482179373a9c","block_type":"box","text":"discipline","page_number":1,"box":{"x":66,"y":527,"width":62,"height":10}},{"id":"19230274-0f85-487e-add6-b0c14d9dd053","block_type":"box","text":"with the fiscal deficit set to narrow and remain under the","page_number":1,"box":{"x":133,"y":527,"width":390,"height":8}},{"id":"d7fccf8d-8806-4f44-911e-d9865dba9ee8","block_type":"box","text":"3% limit. Stocks have","page_number":1,"box":{"x":529,"y":527,"width":146,"height":8}},{"id":"abee3d30-301c-4293-b5c9-cd704c6482de","block_type":"box","text":"rallied in","page_number":1,"box":{"x":66,"y":541,"width":57,"height":8}},{"id":"500d6a59-d79f-43fb-b636-f294850fadc0","block_type":"box","text":"response,","page_number":1,"box":{"x":129,"y":544,"width":64,"height":7}},{"id":"3c52b039-313a-4185-b2ee-1b3f7fd221fb","block_type":"box","text":"and the market was up 4.7% for the month","page_number":1,"box":{"x":199,"y":541,"width":291,"height":10}},{"id":"dcfecd1d-bd8a-45f2-8b28-050775dc5a61","block_type":"box","text":".","page_number":1,"box":{"x":493,"y":548,"width":2,"height":1}},{"id":"98112408-bc99-406b-a636-cb30ba79302b","block_type":"box","text":"Vietnam had a better month with the index up","page_number":1,"box":{"x":65,"y":570,"width":321,"height":10}},{"id":"6c073ba1-ca54-4275-8ac8-644eb41cddbf","block_type":"box","text":"5.5%","page_number":1,"box":{"x":393,"y":570,"width":31,"height":8}},{"id":"214d5bcd-31ae-4d90-9330-3cec89dfa909","block_type":"box","text":",","page_number":1,"box":{"x":425,"y":577,"width":3,"height":3}},{"id":"c6736f41-6da3-41ab-8996-a027b48052eb","block_type":"box","text":"the catalyst being the","page_number":1,"box":{"x":434,"y":570,"width":147,"height":10}},{"id":"c501f1f0-e34e-4909-8482-31e3034b4a06","block_type":"box","text":"long","page_number":1,"box":{"x":588,"y":570,"width":28,"height":10}},{"id":"d2e7a5f6-3156-48cb-a161-bc1e3c9ad4d2","block_type":"box","text":"-","page_number":1,"box":{"x":617,"y":575,"width":4,"height":1}},{"id":"770814de-76ea-40d6-8e91-68bf626ac2ff","block_type":"box","text":"awaited","page_number":1,"box":{"x":622,"y":570,"width":53,"height":8}},{"id":"3670e3c6-a180-4d64-bdca-d99e3403c45e","block_type":"box","text":"upgrade from Frontier to Emerging Market status by","page_number":1,"box":{"x":66,"y":585,"width":358,"height":10}},{"id":"3cf202e8-1032-437a-8164-00265d87dd4b","block_type":"box","text":"the FTSE and a larger than expected","page_number":1,"box":{"x":429,"y":585,"width":245,"height":10}},{"id":"94f3c312-49a7-4657-8d9c-7f28bdd6b183","block_type":"box","text":"weighting, with an estimated $2.5bn inflows to start","page_number":1,"box":{"x":66,"y":598,"width":356,"height":11}},{"id":"bd702efc-db25-4408-b639-9c4ad73836bc","block_type":"box","text":"after September this year.","page_number":1,"box":{"x":428,"y":599,"width":177,"height":10}},{"id":"9e035abf-3605-487e-a15b-ebaa5ee4b695","block_type":"box","text":"We had a","page_number":1,"box":{"x":611,"y":599,"width":64,"height":8}},{"id":"6f9760be-7244-44f6-b75d-a3f5fb07347b","block_type":"box","text":"number of shares exhibiting strong performance for the month such as","page_number":1,"box":{"x":66,"y":614,"width":488,"height":10}},{"id":"49dfaa3e-5b47-44ec-9163-956f3147ed7f","block_type":"box","text":"FPT Digital Retail","page_number":1,"box":{"x":562,"y":614,"width":113,"height":10}},{"id":"188f549e-012a-4cdc-90a4-b6a6b8d91994","block_type":"box","text":"up","page_number":1,"box":{"x":66,"y":631,"width":16,"height":7}},{"id":"e7f983fe-6b42-470d-9aa1-f24ac971b282","block_type":"box","text":"17.7%,","page_number":1,"box":{"x":90,"y":628,"width":44,"height":10}},{"id":"1db79974-3549-4794-93cc-12d73304cc3b","block_type":"box","text":"on","page_number":1,"box":{"x":142,"y":631,"width":15,"height":5}},{"id":"ea39d3f7-7314-4a38-aa8e-e99b28c4e44c","block_type":"box","text":"little news","page_number":1,"box":{"x":166,"y":628,"width":71,"height":8}},{"id":"2489f500-a86c-4dfc-a3e9-90be47b0ad31","block_type":"box","text":",","page_number":1,"box":{"x":238,"y":635,"width":3,"height":3}},{"id":"d1f12728-e303-4911-9b6d-57b671056f11","block_type":"box","text":"but coming from oversold levels and numerous upgrades by","page_number":1,"box":{"x":249,"y":628,"width":426,"height":10}},{"id":"cf659f75-9f9e-4936-becd-521cc3ac8be1","block_type":"box","text":"brokers for 2026 and 2027 profit expectations.","page_number":1,"box":{"x":66,"y":643,"width":312,"height":10}},{"id":"5b5c184c-86a3-45c4-9f3d-33d371c2f427","block_type":"box","text":"Tec","page_number":1,"box":{"x":386,"y":643,"width":23,"height":8}},{"id":"41b77dfe-41f5-4277-901f-408bdb79490c","block_type":"box","text":"hcom Bank rose 15.1% on rumours that","page_number":1,"box":{"x":411,"y":643,"width":264,"height":8}},{"id":"bbd3003b-d533-481e-93b2-5d7125b19ac6","block_type":"box","text":"BNP or Kookmin Bank were looking to take a 15% stake in the business at a price of 2x","page_number":1,"box":{"x":67,"y":657,"width":608,"height":10}},{"id":"ffe38caf-b4d6-4027-b081-d717451d0030","block_type":"box","text":"book value, which would equate to a 66% premium to the current share price. BNP later","page_number":1,"box":{"x":66,"y":672,"width":609,"height":10}},{"id":"7e9f71c0-2fb8-4470-a386-cce24129812c","block_type":"box","text":"denied it. On the other side","page_number":1,"box":{"x":66,"y":686,"width":204,"height":8}},{"id":"1a390896-4494-4ba9-b23c-124ec92c662e","block_type":"box","text":",","page_number":1,"box":{"x":272,"y":693,"width":2,"height":3}},{"id":"043bf5f3-1823-4c17-aa83-7c7c63021b5a","block_type":"box","text":"F88, the","page_number":1,"box":{"x":283,"y":686,"width":56,"height":10}},{"id":"e5a86806-b19e-469f-8538-85301eb2f067","block_type":"box","text":"consumer finance company, despite upgrading","page_number":1,"box":{"x":347,"y":686,"width":328,"height":10}},{"id":"6cf4d9c2-8d01-4fe1-a312-e7673e58874a","block_type":"box","text":"guidance for this year by over 20% saw its share price fall","page_number":1,"box":{"x":66,"y":701,"width":393,"height":10}},{"id":"d67afd1a-8d29-48ef-b98a-61d4a23688d9","block_type":"box","text":"7% as","page_number":1,"box":{"x":466,"y":701,"width":37,"height":8}},{"id":"c3cacc8f-aa80-492a-90e3-176412694376","block_type":"box","text":"the take up of its capital","page_number":1,"box":{"x":509,"y":701,"width":165,"height":10}},{"id":"3ac62bae-387a-4d59-b358-2810326bb851","block_type":"box","text":"raising had been poor. This was technical and now trades on a PE of 10x this year","page_number":1,"box":{"x":66,"y":715,"width":578,"height":10}},{"id":"ef7df82a-f894-4ca7-8cf8-e5dbfa07ea5d","block_type":"box","text":"and","page_number":1,"box":{"x":651,"y":715,"width":24,"height":8}},{"id":"07019407-a9e7-40e5-b414-b82e79b2f568","block_type":"box","text":"expect","page_number":1,"box":{"x":66,"y":731,"width":44,"height":9}},{"id":"66520cef-31da-4c8c-8d37-fcda5588629d","block_type":"box","text":"s","page_number":1,"box":{"x":111,"y":732,"width":5,"height":6}},{"id":"5feaf1fd-b679-491f-893c-52594eac4104","block_type":"box","text":"to see profits compound by at least 25% per annum over the next few years.","page_number":1,"box":{"x":121,"y":730,"width":520,"height":10}},{"id":"add03b84-ee6a-4ede-8590-7ecc6ba6c8e2","block_type":"box","text":"The Philippines","page_number":1,"box":{"x":65,"y":759,"width":102,"height":10}},{"id":"51ed3477-e569-4d9c-8f67-9b04e441e9e3","block_type":"box","text":"(","page_number":1,"box":{"x":172,"y":759,"width":3,"height":10}},{"id":"59103412-3798-47fa-8676-76eccee8c6de","block_type":"box","text":"-","page_number":1,"box":{"x":177,"y":763,"width":4,"height":1}},{"id":"3160040f-4d5c-45c7-b9fd-c21e13efc9ed","block_type":"box","text":"5.7%","page_number":1,"box":{"x":182,"y":759,"width":32,"height":8}},{"id":"f643e4a7-85e6-4ed5-a684-f14cadba1e66","block_type":"box","text":")","page_number":1,"box":{"x":216,"y":759,"width":3,"height":10}},{"id":"d7d39995-0f8e-4bf4-bdf7-409649462bbe","block_type":"box","text":"and India","page_number":1,"box":{"x":224,"y":759,"width":61,"height":8}},{"id":"2a0806d3-ef5b-4a42-9277-92da5c1e0b95","block_type":"box","text":"(","page_number":1,"box":{"x":290,"y":759,"width":3,"height":10}},{"id":"17fe60d1-9ac8-476a-b086-10d20ff0dd46","block_type":"box","text":"-","page_number":1,"box":{"x":295,"y":763,"width":4,"height":1}},{"id":"093faa01-05ff-4333-a052-468a562a06a9","block_type":"box","text":"2.8%","page_number":1,"box":{"x":300,"y":759,"width":32,"height":8}},{"id":"7a22eba0-5374-411f-be70-58af80fb3242","block_type":"box","text":")","page_number":1,"box":{"x":334,"y":759,"width":3,"height":10}},{"id":"52cf4073-b2eb-4992-88a0-6921de7e2534","block_type":"box","text":"were weak as they have negative current account","page_number":1,"box":{"x":341,"y":759,"width":334,"height":10}},{"id":"c572df05-5472-4bcb-b9f9-936a9114cf2e","block_type":"box","text":"b","page_number":1,"box":{"x":66,"y":773,"width":7,"height":8}},{"id":"919158e8-8067-494e-a123-7ec9166ab707","block_type":"box","text":"alances and suffer from higher oil prices. Although our stocks in the Philippines","page_number":1,"box":{"x":75,"y":773,"width":559,"height":10}},{"id":"51202b91-c03d-40e3-9104-f0b08ca158c1","block_type":"box","text":"were","page_number":1,"box":{"x":641,"y":776,"width":34,"height":5}},{"id":"30b096d0-ee45-4991-892e-4636427b59c5","block_type":"box","text":"broadly unchanged on the month, so outperforming. India is very much perceived as the","page_number":1,"box":{"x":66,"y":788,"width":608,"height":10}},{"id":"7fff528e-4166-4c5e-ad8f-d85b33bb7c94","block_type":"box","text":"anti AI trade and","page_number":1,"box":{"x":66,"y":802,"width":114,"height":8}},{"id":"bd7e2f57-a8ba-4c86-9909-1db84edcbe3e","block_type":"box","text":"with the bounce back in AI related names and higher oil prices, foreign","page_number":1,"box":{"x":186,"y":802,"width":488,"height":10}},{"id":"3e546ea3-a1eb-4d19-9e7a-0bcedc4bf5b4","block_type":"box","text":"selling resumed","page_number":1,"box":{"x":66,"y":817,"width":105,"height":10}},{"id":"ea494533-1fed-4fca-ba87-83065711cf79","block_type":"box","text":"and sentiment turned bearish.","page_number":1,"box":{"x":177,"y":817,"width":205,"height":8}},{"id":"619d28ab-0dd0-4da2-931d-42914f3c04eb","block_type":"box","text":"On the results front, it was the turn of our Chinese holdings, with Alibaba and Tencent","page_number":1,"box":{"x":66,"y":846,"width":608,"height":10}},{"id":"bf14561a-9d19-47f6-bc5e-8058ff78928c","block_type":"box","text":"both punished for increasing AI capex as","page_number":1,"box":{"x":66,"y":860,"width":269,"height":10}},{"id":"7a394f2e-c12d-486c-99a2-c82e4288a5d6","block_type":"box","text":"they both indicated demand was accelerating and","page_number":1,"box":{"x":340,"y":860,"width":334,"height":10}},{"id":"f0f70cb0-aa0c-4438-af06-bc375d73ccf2","block_type":"box","text":"so","page_number":1,"box":{"x":66,"y":877,"width":14,"height":6}},{"id":"a99747ea-f354-40f6-ae6f-7440b57ae7c0","block_type":"box","text":"further","page_number":1,"box":{"x":86,"y":875,"width":48,"height":8}},{"id":"404473bc-00dc-495f-853b-693ef4dae675","block_type":"box","text":"investment was","page_number":1,"box":{"x":141,"y":875,"width":107,"height":8}},{"id":"ae5b9482-7bb4-45cd-a58d-4371b6911549","block_type":"box","text":"justified","page_number":1,"box":{"x":253,"y":875,"width":54,"height":10}},{"id":"b107eaeb-71ba-4176-a98b-51fa874fa230","block_type":"box","text":". Alibaba reiterat","page_number":1,"box":{"x":310,"y":875,"width":121,"height":8}},{"id":"bf353729-9362-48e3-8e95-50ef99431dc7","block_type":"box","text":"ed","page_number":1,"box":{"x":432,"y":875,"width":15,"height":8}},{"id":"e5e2f095-044f-4242-acc4-46eacbfe5708","block_type":"box","text":"payback was under three","page_number":1,"box":{"x":455,"y":875,"width":174,"height":10}},{"id":"07cfa00e-873d-4a04-93a1-24f9d6800d16","block_type":"box","text":"years,","page_number":1,"box":{"x":636,"y":877,"width":39,"height":8}},{"id":"5352cfc5-a07f-4108-964b-00fe8e9a6b33","block_type":"box","text":"and growth would accelerate to over 50% for its cloud business in Q3.","page_number":1,"box":{"x":66,"y":889,"width":474,"height":10}},{"id":"8efa5ecd-4bd9-491f-acbc-f1acdbe2014d","block_type":"box","text":"B £ Acc","page_number":1,"box":{"x":725,"y":154,"width":57,"height":10}},{"id":"baac52d1-af69-4017-aa02-9d2e75e46249","block_type":"box","text":"NAV","page_number":1,"box":{"x":789,"y":154,"width":36,"height":9}},{"id":"18de58ee-b601-428a-91d5-008097ae434a","block_type":"box","text":"1","page_number":1,"box":{"x":849,"y":154,"width":8,"height":9}},{"id":"00347965-ec58-4db7-8ebc-b2920ff2aedb","block_type":"box","text":"41.3","page_number":1,"box":{"x":858,"y":154,"width":35,"height":10}},{"id":"f1064c06-53ef-4b8c-a72e-94fa972eb2a6","block_type":"box","text":"p","page_number":1,"box":{"x":895,"y":157,"width":9,"height":9}},{"id":"024d6c4f-44f9-48ca-9779-d8c7700a9103","block_type":"box","text":"Investment","page_number":1,"box":{"x":762,"y":186,"width":63,"height":6}},{"id":"311a6d97-7416-4be6-beb7-3b025c2b096c","block_type":"box","text":"Manager:","page_number":1,"box":{"x":772,"y":198,"width":52,"height":8}},{"id":"26188565-bb45-488f-ba72-1fc4645b598a","block_type":"box","text":"Halo Global Asset","page_number":1,"box":{"x":847,"y":186,"width":97,"height":6}},{"id":"6d2b316f-8367-4a36-a64f-e43a7c84e347","block_type":"box","text":"Management","page_number":1,"box":{"x":847,"y":198,"width":74,"height":8}},{"id":"4727e9bd-248a-4d65-bb0a-78034caef2ea","block_type":"box","text":"Fund Manager:","page_number":1,"box":{"x":725,"y":221,"width":83,"height":8}},{"id":"e9f5f94c-18ba-4d13-971d-041bafa5a130","block_type":"box","text":"Andrew Williamson","page_number":1,"box":{"x":846,"y":221,"width":109,"height":6}},{"id":"953c5800-537d-4cf4-84cf-4583bb73f628","block_type":"box","text":"Jones","page_number":1,"box":{"x":846,"y":232,"width":31,"height":7}},{"id":"411d2c6a-b2aa-44d5-b55a-b6aec4a7b39d","block_type":"box","text":"ACD:","page_number":1,"box":{"x":798,"y":256,"width":26,"height":6}},{"id":"f528a47a-ae3d-4334-974a-4fcb577dfbac","block_type":"box","text":"Valu","page_number":1,"box":{"x":843,"y":255,"width":24,"height":7}},{"id":"03949ea7-e169-462c-ac0c-5ffd960b4474","block_type":"box","text":"-","page_number":1,"box":{"x":869,"y":259,"width":3,"height":1}},{"id":"c18d89e2-5f4d-4d7c-ac55-9790bf16d502","block_type":"box","text":"Trac Investment","page_number":1,"box":{"x":873,"y":256,"width":89,"height":6}},{"id":"988eab04-10b4-4248-8b7c-3c144481362d","block_type":"box","text":"Management Ltd.","page_number":1,"box":{"x":844,"y":267,"width":98,"height":8}},{"id":"2743d1b1-04f9-4e2d-800d-acf374bf81bd","block_type":"box","text":"Fund Type:","page_number":1,"box":{"x":764,"y":290,"width":60,"height":8}},{"id":"e5c614e2-c2a3-4861-9200-4a10de2d2337","block_type":"box","text":"UK UCITS IV OEIC","page_number":1,"box":{"x":844,"y":290,"width":94,"height":7}},{"id":"abf174d3-fbc4-41f5-adee-1904ad040e4f","block_type":"box","text":"Launch Date:","page_number":1,"box":{"x":753,"y":313,"width":71,"height":7}},{"id":"d0f52643-568b-45bf-8d36-93fbaecf9403","block_type":"box","text":"3 Nov 2014","page_number":1,"box":{"x":844,"y":314,"width":61,"height":6}},{"id":"f371c7bd-7463-4f96-b8ab-5d4c6d5ecd44","block_type":"box","text":"Classes:","page_number":1,"box":{"x":782,"y":337,"width":42,"height":6}},{"id":"2ee976ab-3d25-4fbc-aa3d-c3a48106ed34","block_type":"box","text":"B, C","page_number":1,"box":{"x":844,"y":337,"width":20,"height":7}},{"id":"bf348c71-664e-4f81-8f6c-abf1e1212a92","block_type":"box","text":"Base Currency:","page_number":1,"box":{"x":743,"y":360,"width":81,"height":8}},{"id":"e162fd20-b8d8-4045-b04d-f76bcb6f12ce","block_type":"box","text":"Sterling","page_number":1,"box":{"x":843,"y":360,"width":43,"height":8}},{"id":"6d3b2cf6-30b8-460c-9f19-5470cc21a9b8","block_type":"box","text":"Dealing & Valuation:","page_number":1,"box":{"x":710,"y":383,"width":114,"height":8}},{"id":"49975689-abc3-4681-8cad-ef0ee40a5e9d","block_type":"box","text":"Daily 12.00pm","page_number":1,"box":{"x":844,"y":383,"width":78,"height":8}},{"id":"75b7c489-3896-47cf-8c12-421eea268a7a","block_type":"box","text":"Year End:","page_number":1,"box":{"x":772,"y":406,"width":52,"height":7}},{"id":"03c2491a-36d5-4409-8f10-2953ea541172","block_type":"box","text":"3","page_number":1,"box":{"x":844,"y":406,"width":5,"height":7}},{"id":"15781fee-b95e-44f2-8a11-cf48b2645092","block_type":"box","text":"0","page_number":1,"box":{"x":850,"y":406,"width":6,"height":7}},{"id":"2caaf448-23e9-4753-83cc-bde740ff73f7","block_type":"box","text":"th","page_number":1,"box":{"x":857,"y":406,"width":7,"height":4}},{"id":"d97b0654-e60b-48d7-b183-7dfc2327883c","block_type":"box","text":"June","page_number":1,"box":{"x":867,"y":407,"width":25,"height":6}},{"id":"e69e329b-ac45-4c17-96d2-639933539f7e","block_type":"box","text":"Management fee:","page_number":1,"box":{"x":726,"y":429,"width":98,"height":9}},{"id":"f95ac3ab-2136-44d6-ad10-b12cb480dbf8","block_type":"box","text":"B: 0.","page_number":1,"box":{"x":844,"y":430,"width":23,"height":6}},{"id":"5acbf732-4ce0-4eff-87b4-e7c119c76138","block_type":"box","text":"9","page_number":1,"box":{"x":868,"y":430,"width":6,"height":6}},{"id":"69ae27d4-1994-43e4-b8fc-7116245a1753","block_type":"box","text":"5% p.a.","page_number":1,"box":{"x":875,"y":430,"width":40,"height":8}},{"id":"d384f010-2db1-4ca7-87bf-963751e767bb","block_type":"box","text":"C: 0.","page_number":1,"box":{"x":844,"y":441,"width":23,"height":6}},{"id":"9d92c6c5-5b50-40b8-b7db-57d9af4b083d","block_type":"box","text":"7","page_number":1,"box":{"x":868,"y":441,"width":6,"height":6}},{"id":"197818ef-7fd2-4d69-b67a-90cc3b037761","block_type":"box","text":"5% p.a.","page_number":1,"box":{"x":875,"y":441,"width":39,"height":8}},{"id":"84ed67c1-c58c-4b93-a8ab-b8e23c8a3d32","block_type":"box","text":"ISIN:","page_number":1,"box":{"x":798,"y":476,"width":24,"height":6}},{"id":"83fbd0b2-c4a2-4e14-85a6-f09813ef17dc","block_type":"box","text":"B $ Acc","page_number":1,"box":{"x":787,"y":497,"width":38,"height":8}},{"id":"91bef390-60f2-4a86-a4b1-ebf8d7c477a8","block_type":"box","text":"GB00BRWQWY25","page_number":1,"box":{"x":844,"y":498,"width":96,"height":7}},{"id":"77a92937-c3be-4572-a5fe-91954e875a78","block_type":"box","text":"B $ Inc","page_number":1,"box":{"x":790,"y":508,"width":35,"height":8}},{"id":"c2efd2fd-b1d6-4a37-93c0-3ee4ae4ca1e4","block_type":"box","text":"GB00BRJTG867","page_number":1,"box":{"x":844,"y":509,"width":82,"height":6}},{"id":"911dba44-988a-4125-a16b-601ed01a85ce","block_type":"box","text":"B £ Acc","page_number":1,"box":{"x":787,"y":521,"width":38,"height":6}},{"id":"6d71e31d-9cc3-444f-b0f6-b0f2f4fe1ff7","block_type":"box","text":"GB00BRWQWX18","page_number":1,"box":{"x":844,"y":521,"width":96,"height":7}},{"id":"7a0ba03e-f48b-495f-b714-9e57c575075d","block_type":"box","text":"B £ Inc","page_number":1,"box":{"x":790,"y":532,"width":35,"height":7}},{"id":"0e70b642-cb8f-44f1-90e4-e6be0070362e","block_type":"box","text":"GB00BRGCDS71","page_number":1,"box":{"x":844,"y":532,"width":86,"height":7}},{"id":"edd08a6e-66cb-4c64-b7df-455460b79212","block_type":"box","text":"B","page_number":1,"box":{"x":787,"y":544,"width":5,"height":6}},{"id":"1d1d6dbc-3c46-43c3-be9a-8f90580a6251","block_type":"box","text":"€ Acc","page_number":1,"box":{"x":796,"y":544,"width":29,"height":6}},{"id":"5b2d598e-1f1a-4fcb-b848-768a580cf5e4","block_type":"box","text":"GB00BK9WNR45","page_number":1,"box":{"x":844,"y":544,"width":91,"height":6}},{"id":"aa97bbbd-d6b1-4a13-a066-df9520f95ad5","block_type":"box","text":"B","page_number":1,"box":{"x":790,"y":556,"width":5,"height":6}},{"id":"af0c51e1-f97f-4dfe-ba24-fccbd416b7e0","block_type":"box","text":"€ Inc","page_number":1,"box":{"x":799,"y":556,"width":26,"height":6}},{"id":"ed4f7758-efd3-4cdd-8bb2-3299da42c1e0","block_type":"box","text":"GB00BK9WNQ38","page_number":1,"box":{"x":844,"y":556,"width":92,"height":7}},{"id":"1f055f75-8b24-4ecf-b601-f7c458ef973b","block_type":"box","text":"C $ Acc","page_number":1,"box":{"x":786,"y":566,"width":39,"height":9}},{"id":"b7ee255b-531d-400c-a70c-4bbe0025db67","block_type":"box","text":"GB00BRWQX051","page_number":1,"box":{"x":844,"y":567,"width":91,"height":7}},{"id":"f3b4451d-9934-4b47-9129-2042b85854a8","block_type":"box","text":"C $ Inc","page_number":1,"box":{"x":789,"y":578,"width":36,"height":8}},{"id":"35676e0f-fbb8-49f3-81af-ee89d85cd532","block_type":"box","text":"GB00BRJTG974","page_number":1,"box":{"x":844,"y":579,"width":82,"height":6}},{"id":"4f8cf54f-747e-4316-bb29-e354eb46af56","block_type":"box","text":"C £ Acc","page_number":1,"box":{"x":786,"y":592,"width":39,"height":6}},{"id":"2860c588-8549-4f3c-867d-69cdc22df545","block_type":"box","text":"GB00BRWQWZ32","page_number":1,"box":{"x":844,"y":592,"width":95,"height":7}},{"id":"80ddc692-8b30-4dbe-a720-b571c8809138","block_type":"box","text":"C £ Inc","page_number":1,"box":{"x":789,"y":603,"width":36,"height":6}},{"id":"79231562-f425-4b4b-a3bd-bffbaa61fdbe","block_type":"box","text":"GB00BRGCDT88","page_number":1,"box":{"x":844,"y":603,"width":87,"height":6}},{"id":"5b1abdf0-3f05-4ebc-8f1d-f8ee56e3f596","block_type":"box","text":"C","page_number":1,"box":{"x":786,"y":615,"width":7,"height":6}},{"id":"f60351b2-2dcf-4d44-8322-529344087c6c","block_type":"box","text":"€ Acc","page_number":1,"box":{"x":796,"y":615,"width":29,"height":6}},{"id":"9d168389-ae31-4b39-b8f8-ccb957cc43da","block_type":"box","text":"GB00BK9WNT68","page_number":1,"box":{"x":844,"y":615,"width":90,"height":6}},{"id":"8d29c5b3-e0aa-4cb6-a602-a411ac479abe","block_type":"box","text":"C","page_number":1,"box":{"x":789,"y":626,"width":6,"height":7}},{"id":"1509df63-6f98-45c6-a3ef-3ff55b1dfc1b","block_type":"box","text":"€ Inc","page_number":1,"box":{"x":799,"y":626,"width":26,"height":7}},{"id":"a56375f2-77a7-4d0c-ace5-dbdb6d0a1835","block_type":"box","text":"GB00BK9WNS51","page_number":1,"box":{"x":844,"y":626,"width":89,"height":7}},{"id":"e2cd72ef-e080-4d76-b82d-6e65fdef852c","block_type":"box","text":"Asset Under Mgt","page_number":1,"box":{"x":731,"y":649,"width":93,"height":8}},{"id":"b9a170bb-a149-4d77-9d6e-1aa3ae52f32c","block_type":"box","text":"$","page_number":1,"box":{"x":844,"y":649,"width":5,"height":8}},{"id":"f0a99700-5bbd-401e-81c5-62cda39a2bd9","block_type":"box","text":"21.7","page_number":1,"box":{"x":850,"y":650,"width":24,"height":6}},{"id":"cdc3899d-36ab-40b6-9a15-dde3f998ef4a","block_type":"box","text":"m","page_number":1,"box":{"x":875,"y":651,"width":9,"height":5}},{"id":"1e8f59b4-deac-4876-9c00-bbb9b32e7777","block_type":"box","text":"Depository:","page_number":1,"box":{"x":761,"y":673,"width":63,"height":8}},{"id":"868dbb26-1dda-441e-9302-c326333d7b49","block_type":"box","text":"National","page_number":1,"box":{"x":844,"y":672,"width":46,"height":7}},{"id":"16ab2e66-feaf-4cc6-ab67-f1649ff801d9","block_type":"box","text":"Westminster","page_number":1,"box":{"x":843,"y":684,"width":72,"height":7}},{"id":"00e7321a-bb9f-4fe8-8971-56fe36421e1b","block_type":"box","text":"Bank PLC","page_number":1,"box":{"x":844,"y":696,"width":50,"height":6}},{"id":"54bec6d6-13c4-4ff3-8abe-ae7417cecf81","block_type":"box","text":"Dealing Frequency:","page_number":1,"box":{"x":719,"y":719,"width":105,"height":8}},{"id":"5d5c8a81-1c8c-4d1e-bc2d-453b3f7889a7","block_type":"box","text":"Daily","page_number":1,"box":{"x":844,"y":719,"width":27,"height":8}},{"id":"6306c871-3d93-4145-8371-1a2179b94e63","block_type":"box","text":"Daily NAV available:","page_number":1,"box":{"x":713,"y":742,"width":111,"height":8}},{"id":"663a5017-6168-4414-8b9a-7926256b4bc3","block_type":"box","text":"Bloomberg,","page_number":1,"box":{"x":844,"y":742,"width":63,"height":8}},{"id":"b15efd22-a562-49be-9097-0c4c32e279c2","block_type":"box","text":"Refinitive","page_number":1,"box":{"x":912,"y":742,"width":52,"height":7}},{"id":"b1d41877-b20a-4683-ac25-f35d89d8d548","block_type":"box","text":"Morningstar &","page_number":1,"box":{"x":844,"y":754,"width":81,"height":8}},{"id":"44edc5d1-80eb-4ca0-a197-6540d4061a92","block_type":"box","text":"Valu","page_number":1,"box":{"x":843,"y":765,"width":24,"height":7}},{"id":"343b7d8a-3e0c-424a-959f-3be5f0f7c856","block_type":"box","text":"-","page_number":1,"box":{"x":869,"y":769,"width":3,"height":1}},{"id":"5d6dd89c-7b66-4be8-b78b-b911d684f581","block_type":"box","text":"Trac","page_number":1,"box":{"x":873,"y":766,"width":23,"height":6}},{"id":"40d30fa4-f857-41e9-a139-d244469b05ac","block_type":"box","text":"Issued and a","page_number":1,"box":{"x":724,"y":823,"width":66,"height":7}},{"id":"cc70a378-311f-497a-903a-29ce3a647bf2","block_type":"box","text":"pproved by Halo Global Asset","page_number":1,"box":{"x":791,"y":823,"width":160,"height":8}},{"id":"54faff78-a487-481d-a4f7-f8ffb8be7ca0","block_type":"box","text":"Management","page_number":1,"box":{"x":712,"y":835,"width":73,"height":8}},{"id":"89f75c3a-614b-4c45-80d9-24c91809f4a8","block_type":"box","text":"Ltd","page_number":1,"box":{"x":788,"y":835,"width":17,"height":6}},{"id":"aa6b44ca-61db-4d6e-9f16-4e3094f43666","block_type":"box","text":"Authorised and regulated by","page_number":1,"box":{"x":808,"y":835,"width":155,"height":8}},{"id":"f5afbf15-31c7-4ee5-b600-d98e5e8afc16","block_type":"box","text":"the","page_number":1,"box":{"x":829,"y":846,"width":16,"height":7}},{"id":"48ba8c2a-ce04-4871-b5d4-22a5dfd17517","block_type":"box","text":"Financial Conduct Authority.","page_number":1,"box":{"x":760,"y":858,"width":152,"height":8}},{"id":"4ee5f6e8-7a2a-4140-9efd-ea6497032eeb","block_type":"box","text":"Issued and approved by Halo","page_number":1,"box":{"x":745,"y":968,"width":175,"height":9}},{"id":"9281c461-8d5a-456e-b626-84161758aad9","block_type":"box","text":"Investment Management LLC.","page_number":1,"box":{"x":742,"y":981,"width":181,"height":9}},{"id":"fb8ced3b-a354-4c42-a739-6d3bc1cda976","block_type":"box","text":"Authorised and regulated by the","page_number":1,"box":{"x":733,"y":994,"width":198,"height":6}},{"id":"34a79efc-5b91-4b68-864a-9d759f7833db","block_type":"box","text":"V","page_number":2,"box":{"x":66,"y":65,"width":17,"height":14}},{"id":"ceb06ad9-b504-4ffd-875b-013a3f8850d8","block_type":"box","text":"T H","page_number":2,"box":{"x":83,"y":65,"width":39,"height":14}},{"id":"976370fa-86c8-49c2-a818-9282882686ea","block_type":"box","text":"a","page_number":2,"box":{"x":125,"y":68,"width":12,"height":11}},{"id":"98c294ba-5b2c-4a5d-93fe-81fc9059e4c3","block_type":"box","text":"lo","page_number":2,"box":{"x":141,"y":64,"width":29,"height":15}},{"id":"30296021-e5e2-4dd9-8b62-b894fad26ba6","block_type":"box","text":"ASIA","page_number":2,"box":{"x":170,"y":65,"width":58,"height":14}},{"id":"74a63fbf-ee7f-48e5-97aa-33a77f8fe9a7","block_type":"box","text":"GROWTH","page_number":2,"box":{"x":236,"y":65,"width":115,"height":14}},{"id":"1797c8c5-85e8-4533-b1b5-43c4f97155a7","block_type":"box","text":"FUND","page_number":2,"box":{"x":362,"y":65,"width":70,"height":14}},{"id":"bee87ace-4698-427a-a824-341218d8a478","block_type":"box","text":"August","page_number":2,"box":{"x":65,"y":94,"width":68,"height":14}},{"id":"1c15031e-083b-487f-af69-a7712baacbfe","block_type":"box","text":"2026","page_number":2,"box":{"x":140,"y":94,"width":46,"height":11}},{"id":"adbac10e-87eb-490b-b89d-f25e4147c45c","block_type":"box","text":"Fact Sheet","page_number":2,"box":{"x":193,"y":93,"width":99,"height":12}},{"id":"a5c9d6ab-03c4-4b48-ac35-38fc5630e9c5","block_type":"box","text":"All Data at 12.00 GMT","page_number":2,"box":{"x":705,"y":120,"width":123,"height":7}},{"id":"413f73b5-5751-4ea3-b703-6779aa90affe","block_type":"box","text":"28","page_number":2,"box":{"x":830,"y":121,"width":14,"height":6}},{"id":"95292a75-2264-4c36-9384-a951dbbadbc5","block_type":"box","text":"th","page_number":2,"box":{"x":844,"y":120,"width":6,"height":4}},{"id":"0362511e-e519-40ed-9074-0fe36532a605","block_type":"box","text":"August","page_number":2,"box":{"x":853,"y":121,"width":39,"height":7}},{"id":"c7209d15-b0bd-425e-849d-4864aa00158c","block_type":"box","text":"202","page_number":2,"box":{"x":895,"y":121,"width":20,"height":6}},{"id":"04b204b4-7bd5-44a5-a401-a36741aadce6","block_type":"box","text":"6","page_number":2,"box":{"x":916,"y":121,"width":6,"height":6}},{"id":"fdae8c6e-de0b-4e8d-a0c3-8e143d6084b0","block_type":"box","text":"FOR PROFESSIONAL INVESTORS AND THEIR ADVISORS ONLY","page_number":2,"box":{"x":56,"y":955,"width":342,"height":5}},{"id":"a45288ab-4e4d-4e0f-8673-f44f10f45644","block_type":"box","text":"Halo Global Asset Management Ltd","page_number":2,"box":{"x":474,"y":941,"width":195,"height":8}},{"id":"2dbc3d66-bb5f-4c19-8233-aac4ce8f6144","block_type":"box","text":",","page_number":2,"box":{"x":671,"y":946,"width":1,"height":3}},{"id":"5676c604-053d-41f2-9140-b8a7c94c3e48","block_type":"box","text":"Wades House","page_number":2,"box":{"x":677,"y":941,"width":76,"height":6}},{"id":"876daca7-532f-4e91-b22e-f38e5793c93d","block_type":"box","text":",","page_number":2,"box":{"x":754,"y":946,"width":2,"height":3}},{"id":"ae5df502-3dbf-43fd-9d8d-2d0094a33523","block_type":"box","text":"Barton Stacey","page_number":2,"box":{"x":761,"y":941,"width":78,"height":8}},{"id":"8d4b578c-f6a4-4cfe-81a1-1a5c483dc8a6","block_type":"box","text":",","page_number":2,"box":{"x":840,"y":946,"width":1,"height":3}},{"id":"fd8a2d1e-53e9-4099-a49b-f88bee672c74","block_type":"box","text":"SO21","page_number":2,"box":{"x":846,"y":941,"width":28,"height":6}},{"id":"53b33d57-7c84-437f-97e7-3ceaa8d0743f","block_type":"box","text":"3RJ","page_number":2,"box":{"x":880,"y":941,"width":20,"height":6}},{"id":"edc036c7-238b-4dd7-9f78-24b1431345fb","block_type":"box","text":"Tel","page_number":2,"box":{"x":473,"y":960,"width":16,"height":6}},{"id":"89405e1c-593f-478c-bf09-4cd4498e34f8","block_type":"box","text":":","page_number":2,"box":{"x":491,"y":962,"width":1,"height":4}},{"id":"67a64e44-94eb-49b4-a359-befc976640e8","block_type":"box","text":"+44(0)","page_number":2,"box":{"x":501,"y":960,"width":33,"height":8}},{"id":"12bcfb5e-b258-4ae7-b6f1-3f913308ad38","block_type":"box","text":"7769885127","page_number":2,"box":{"x":538,"y":960,"width":64,"height":6}},{"id":"fd38f60b-f92e-489e-bb49-9ad98b868b27","block_type":"box","text":"Email:","page_number":2,"box":{"x":641,"y":955,"width":34,"height":6}},{"id":"db166641-62c4-4f62-b26f-546fab20821a","block_type":"box","text":"Francis Horn","page_number":2,"box":{"x":680,"y":955,"width":65,"height":6}},{"id":"a2157c14-3ca1-49c3-9722-f19b97b1c6a6","block_type":"box","text":"fh@h","page_number":2,"box":{"x":649,"y":965,"width":27,"height":8}},{"id":"f1e07f3f-c00f-4403-af24-2a1a0dcd9be4","block_type":"box","text":"gamuk","page_number":2,"box":{"x":677,"y":965,"width":35,"height":8}},{"id":"e918f438-8af9-4cac-a41e-c2f7c85bb0e5","block_type":"box","text":".com","page_number":2,"box":{"x":713,"y":966,"width":24,"height":5}},{"id":"ef7ad36a-ccc4-45b3-ab6c-ef3739b55f88","block_type":"box","text":"Web:","page_number":2,"box":{"x":777,"y":960,"width":27,"height":6}},{"id":"519115dd-dc90-41c1-9793-07551e893692","block_type":"box","text":"www.hgamuk.","page_number":2,"box":{"x":808,"y":960,"width":71,"height":7}},{"id":"af00df08-aa53-4100-a196-1a2492ecd63d","block_type":"box","text":"com","page_number":2,"box":{"x":880,"y":961,"width":21,"height":5}},{"id":"d79852be-f65d-4e49-8adf-0feed015f18e","block_type":"box","text":"NB: performance numbers","page_number":2,"box":{"x":59,"y":682,"width":109,"height":6}},{"id":"104e6699-eecc-4aa0-838f-2b5ef713637e","block_type":"box","text":"a","page_number":2,"box":{"x":171,"y":683,"width":5,"height":4}},{"id":"251feb87-130c-4d5c-9f04-1449258d81ed","block_type":"box","text":"re net of fees.","page_number":2,"box":{"x":176,"y":682,"width":57,"height":6}},{"id":"c46a9380-8d53-41f1-abe2-cb572c3e7758","block_type":"box","text":"Where this communication constitutes a financial promotion/marketing communication it is issued and only made available to, a","page_number":2,"box":{"x":96,"y":709,"width":698,"height":9}},{"id":"ba49c44c-b3f7-410f-93c3-cdbe5800c775","block_type":"box","text":"nd directed at, (a) persons","page_number":2,"box":{"x":796,"y":709,"width":142,"height":9}},{"id":"ff1b8964-ee32-4323-a1ae-3e61c8eee4bd","block_type":"box","text":"who have professional experience in matters relating to investments falling within Article 19(1) of the","page_number":2,"box":{"x":96,"y":721,"width":548,"height":8}},{"id":"bce7c955-9bee-47d1-acb5-32ff500abbe9","block_type":"box","text":"Financial Services and Markets Act 2000 (Financial","page_number":2,"box":{"x":648,"y":721,"width":274,"height":8}},{"id":"c531c57e-0a0f-4423-80a7-474140104a8e","block_type":"box","text":"Promotion) Order 2005 (the “Order”) or (b) high net worth entities, and other persons to whom it may otherwise lawfully be co","page_number":2,"box":{"x":95,"y":733,"width":687,"height":8}},{"id":"812368e8-1df5-43b7-bac2-3fa7a0967674","block_type":"box","text":"mmunicated, falling within","page_number":2,"box":{"x":783,"y":733,"width":145,"height":8}},{"id":"d02fa718-672c-433a-970b-70f775c83219","block_type":"box","text":"Article 49(1) of the Order (all such persons togethe","page_number":2,"box":{"x":94,"y":744,"width":275,"height":8}},{"id":"6e9222ba-6696-418e-a107-1f17d9ca1a1d","block_type":"box","text":"r being referred to as “relevant persons”). This communication must not be acted on or relied on by","page_number":2,"box":{"x":370,"y":744,"width":537,"height":8}},{"id":"b747aba2-8301-4394-96b0-7fcf2de63570","block_type":"box","text":"persons who are not relevant persons. Any investment or investment activity to which this communication relates is only avail","page_number":2,"box":{"x":95,"y":756,"width":682,"height":8}},{"id":"a54c4bc4-9c84-4f75-83a5-c672943e4599","block_type":"box","text":"able to relevant persons and","page_number":2,"box":{"x":777,"y":756,"width":155,"height":8}},{"id":"d0fb1f3e-b2fb-4b55-823f-35bd7385d787","block_type":"box","text":"wi","page_number":2,"box":{"x":96,"y":768,"width":12,"height":6}},{"id":"90b965f1-7353-4880-81ff-29a90564db0e","block_type":"box","text":"ll be engaged only with relevant persons. This is for professional clients and eligible counterparties only. This is an Under","page_number":2,"box":{"x":108,"y":767,"width":651,"height":9}},{"id":"f2c3d93a-f311-47f7-8741-f68221b0ce65","block_type":"box","text":"taking for Collective Investment","page_number":2,"box":{"x":760,"y":767,"width":171,"height":9}},{"id":"b6f9e233-8fbd-4cdc-b530-c85d22182c91","block_type":"box","text":"in Transferable Securities (UCITS) regulated by The Financial Conduct Authority (FCA) in the Unite","page_number":2,"box":{"x":95,"y":779,"width":525,"height":8}},{"id":"ab6b8efb-ac02-448d-920a-2483bac39bde","block_type":"box","text":"d Kingdom. The information herein was obtained from","page_number":2,"box":{"x":621,"y":779,"width":294,"height":8}},{"id":"788b31eb-20b6-46da-95b7-d1ca89b9aee9","block_type":"box","text":"various sources. We do not guarantee its accuracy. This information is for your private information and is for discussion pur","page_number":2,"box":{"x":95,"y":791,"width":668,"height":8}},{"id":"d7301a01-3c48-4ceb-99ec-3e49da64d27c","block_type":"box","text":"poses only. A variety of market","page_number":2,"box":{"x":763,"y":791,"width":168,"height":8}},{"id":"3f34462e-4749-4931-8df4-9014ae7a9f29","block_type":"box","text":"factors and assumptions may affect this analysis","page_number":2,"box":{"x":93,"y":802,"width":260,"height":8}},{"id":"98b694e6-b8d6-4b97-a367-553c8b3d0e2e","block_type":"box","text":"is, and this analysis does not reflect all possible loss scenarios. There is no certainty that the parameters and","page_number":2,"box":{"x":353,"y":802,"width":583,"height":8}},{"id":"b6b31e0c-d42c-4824-a38d-fb3e4fb25e33","block_type":"box","text":"assumptions used in this analysis can be duplicated with actual investments. Any historical examples which appear are not nec","page_number":2,"box":{"x":95,"y":814,"width":686,"height":8}},{"id":"64d05796-55bd-4724-9139-2dff07552d17","block_type":"box","text":"essarily indicativ","page_number":2,"box":{"x":782,"y":814,"width":89,"height":8}},{"id":"3e45da4d-0142-4f76-9d47-3ef9b8382cfa","block_type":"box","text":"e of future","page_number":2,"box":{"x":872,"y":814,"width":56,"height":8}},{"id":"30603001-2afa-44d4-b0e4-05d5bae1223a","block_type":"box","text":"investments. Neither the information, recommendations or opinions expressed herein constitutes an offer to buy or sell the sp","page_number":2,"box":{"x":95,"y":825,"width":680,"height":9}},{"id":"b8d47f40-a825-43c6-a0f1-942e69ed58a4","block_type":"box","text":"ecified investment product.","page_number":2,"box":{"x":777,"y":825,"width":146,"height":9}},{"id":"97e59a05-b5b9-4ea1-bfe2-76be979c1386","block_type":"box","text":"Foreign currencies denominated investments are subject to fluctuations in exchange rates th","page_number":2,"box":{"x":95,"y":837,"width":500,"height":8}},{"id":"0f4ac2b1-9b22-4a93-8ea4-844bd58586a3","block_type":"box","text":"at could have a positive or adverse effect on the investor’s","page_number":2,"box":{"x":597,"y":837,"width":314,"height":8}},{"id":"610d5b56-9236-4545-b45a-bf0d526f2b70","block_type":"box","text":"return. Unless otherwise stated, any pricing information in this presentation is indicative only and is subject to change. Pr","page_number":2,"box":{"x":95,"y":849,"width":657,"height":8}},{"id":"632e8489-b542-4a4e-a8c2-661516652f47","block_type":"box","text":"ior to undertaking any investment,","page_number":2,"box":{"x":752,"y":849,"width":186,"height":8}},{"id":"70f1a027-4b0f-415d-8655-31703beb36a7","block_type":"box","text":"you should discuss with your profes","page_number":2,"box":{"x":95,"y":860,"width":191,"height":8}},{"id":"788e0193-1be7-4399-bb40-9142c6f6413f","block_type":"box","text":"sional tax, accounting or other advisor how such a particular investment(s) affects you and whether it is suitable. All","page_number":2,"box":{"x":286,"y":860,"width":630,"height":8}},{"id":"17b34260-c371-440a-a337-90ac7aefceef","block_type":"box","text":"analysis (whether in respect of tax, accounting, law or of any other nature), should be treated as illustrative only and not","page_number":2,"box":{"x":95,"y":872,"width":654,"height":8}},{"id":"01b26c91-9b7e-4bc4-91fb-aab0aa6c5227","block_type":"box","text":"relied upon","page_number":2,"box":{"x":752,"y":872,"width":60,"height":8}},{"id":"6af35d03-0789-45d9-b5f0-037a2c1c4064","block_type":"box","text":"as accurate. Halo","page_number":2,"box":{"x":817,"y":872,"width":93,"height":6}},{"id":"340b1a4b-88b8-45bc-b371-bd3a76cddd48","block_type":"box","text":"Global Asset Management is authorised and regulated by the Financial Conduct Authority,","page_number":2,"box":{"x":95,"y":883,"width":489,"height":9}},{"id":"2a840c73-2193-435c-bd90-be8c6b4f0a1b","block_type":"box","text":"N o. 820966. This product may place your capital at risk; return","page_number":2,"box":{"x":589,"y":883,"width":341,"height":9}},{"id":"88ebc86f-3a78-4835-95cc-901b41f63283","block_type":"box","text":"figures quoted may not display all the short and long","page_number":2,"box":{"x":93,"y":895,"width":288,"height":8}},{"id":"05386c2c-1220-4640-86fd-d68e8b5ea9c8","block_type":"box","text":"-","page_number":2,"box":{"x":382,"y":899,"width":3,"height":1}},{"id":"46266d4a-28c7-4edf-8bef-35d4d1d840ca","block_type":"box","text":"term prospects for the investment","page_number":2,"box":{"x":386,"y":895,"width":184,"height":8}}],"unit":"per_mille","page_width":595,"page_height":841,"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":"f8c38893-a881-480a-8d30-33945b1f6407"},"user_id":1000002,"date_created":"2026-10-05T17:31:29.578000Z","date_modified":"2026-10-05T17:31:29.578000Z","private":false}