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For the six months ended 31 March 2026 (unaudited)
Interim Report and Financial Statements
AVIVA INVESTORS
PASSIVE FUNDS ACS
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 1
CONTENTS
Scheme Information* 2 ACS Manager’s Report* 3 ACS Manager’s Responsibilities* 4 Cross Holdings 5 AI 30:70 Global Equity (Currency Hedged) Index Fund 6 AI Multi-Asset (40-85% Shares) Index Fund 47 AI 40:60 Global Equity Index Fund 56 AI 50:50 Global Equity Index Fund 64 AI 60:40 Global Equity Index Fund 108 AI Continental European Equity Index Fund 152 AI Developed Asia Pacific Ex Japan Equity Index Fund 169 AI Developed European Ex UK Equity Index Fund 184 AI Developed Overseas Government Bond (Ex UK) Index Fund 200 AI Developed World Ex UK Equity Index Fund 228 AI Index-Linked Gilts Over 5 Years Index Fund 267 AI Japanese Equity Index Fund 275 AI Non-Gilt Bond All Stocks Index Fund 293 AI Non-Gilt Bond up to 5 Years Index Fund 325 AI Non-Gilt Bond Over 15 Years Index Fund 344 AI North American Equity Index Fund 355 AI Pacific ex-Japan Equity Index Fund 375 AI UK Equity (Ex Aviva, Investment Trusts) Index Fund 385 AI UK Equity Index Fund 399 AI UK Gilts up to 5 Years Index Fund 417 AI UK Gilts Over 15 Years Index Fund 425 AI UK Gilts All Stocks Index Fund 432 AI US Equity Index Fund 441 General Information 462 Securities Financing Transactions Regulation Disclosure 463
* These items, together with the Investment Manager’s Report, Investment Objective and Policy and Portfolio Statement for each individual Sub-fund, comprise the ACS Manager’s Report for the purpose of the rules contained in the Collective Investment Schemes Sourcebook (the “Regulations”).
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
Scheme Information
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AUTHORISED CONTRACTUAL SCHEME (“ACS”) MANAGER Aviva Investors UK Fund Services Limited 80 Fenchurch Street London, EC3M 4AE Aviva Investors UK Fund Services Limited is a subsidiary of Aviva Investors Holdings Limited and forms part of the Aviva Group. The ACS Manager is authorised and regulated by the Financial Conduct Authority (“FCA”). The Manager is an authorised Alternative Investment Fund Manager (“AIFM”) under the Alternative Investment Fund Managers Directive (“AIFMD”).
DIRECTORS J Barber M Bell A Coates (resigned 31 March 2026) M Kingdon J Lowe K McClellan G Speirs (appointed 24 February 2026)
INVESTMENT MANAGERS BlackRock Investment Management (UK) Limited 12 Throgmorton Avenue London, EC2N 2DL
REGISTRAR Aviva Investors UK Fund Services Limited 80 Fenchurch Street London, EC3M 4AE
DEPOSITARY HSBC Bank Plc 8 Canada Square London, E14 5HQ Authorised by the Prudential Regulation Authority and Regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
INDEPENDENT AUDITOR Ernst & Young LLP Atria One 144 Morrison Street Edinburgh, EH3 8EX
FUND ACCOUNTING AND PRICING AGENT HSBC Securities Services 1-2 Lochside Way, Edinburgh Park Edinburgh, EH12 9DT
SCHEME INFORMATION
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
ACS Manager’s Report
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THE SCHEME Aviva Investors Passive Funds ACS (“the Scheme”) is an Authorised Contractual Scheme. Subsequent references to the ‘Scheme’ relate to Aviva Investors Passive Funds ACS. The Scheme is organised as an umbrella co-ownership scheme comprising separate Sub-funds. Each Sub-fund shall have a segregated portfolio of assets and, accordingly, the assets of a Sub-fund are allocated exclusively to that Sub-fund and shall not be used or made available to discharge (directly or indirectly) the liabilities of, or claims against, any other person or body, including any other Sub-fund and shall not be available for any other purpose. Unitholders are not liable for the debts of a Sub-fund. The Scheme is subject to the rules of the FCA as set out in the Collective Investment Schemes Sourcebook (“COLL”) and the Investment Funds Sourcebook (“FUND”), both of which form part of the FCA Handbook, and the Alternative Investment Fund (“AIF”) Regulations. The property of the Scheme is entrusted to HSBC Bank Plc as depositary (“the Depositary”). The object of the Scheme is to invest the Scheme Property through its Sub-funds, and the objective of each Sub-fund is for the ACS Manager on behalf of the Unitholders, as co-owners of the relevant Sub-fund’s property, to invest that property in transferable securities, money market instruments, derivatives and forward transactions, deposits, cash, near cash, units in collective investment schemes and immovable property, in accordance with the regulations applicable to the Scheme and each Sub-fund, with the aim of spreading investment risk and giving the Unitholders the results of the management of that property. Each Sub-fund has a different investment objective, and in the financial statements you will find an investment review for each Sub-fund which includes details of the investment objectives. As at 31 March 2026 there were 23 active Sub-funds in the Aviva Investors Passive Funds ACS.
AUTHORISED STATUS The Financial Conduct Authority authorised the Aviva Investors Passive Funds ACS (“the Scheme”) as a Non-UCITS Retail Scheme (NURS) on 14 February 2017.
THE FINANCIAL STATEMENTS We are pleased to present the interim financial statements of the Scheme for the six months ended 31 March 2026. As required by the Regulations, information for each of the Sub-funds has also been included in these financial statements. On the following pages we review the performance of each of those Sub-funds during the period. We hope that you find our review useful and informative. For the purposes of this report, “Manager”/“ACS Manager” will be used interchangeably.
TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES (TCFD) Information relating to Aviva Investors TCFD can be found on Aviva Investors website: https://www.avivainvestors.com/en-gb/ capabilities/tcfd/
SIGNIFICANT INFORMATION
CHANGES TO THE PROSPECTUS On 3 December 2025, the Prospectus for the Aviva Investors Passive Funds ACS was updated to clarify the exceptions that apply in relation to the Thermal Coal, Arctic Oil, and Oil Sands screens that are implemented pursuant to the Baseline Exclusions Policy. On 24 December 2025, we made several updates to our prospectuses, as we do annually to ensure the disclosures are as clear as possible and to make sure all elements of the prospectus are up to date, including administrative data and fund performance.
ACS MANAGER’S REPORT
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ACS Manager’s Responsibilities
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We hereby approve the Report and Financial Statements of Aviva Investors Passive Funds ACS for the six months ended 31 March 2026 on behalf of Aviva Investors UK Fund Services Limited in accordance with the requirements of the Collective Investment Schemes Sourcebook of the Financial Conduct Authority.
M Bell Director
K McClellan Director 27 May 2026
ACS MANAGER’S RESPONSIBILITIES
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Cross Holdings
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Some Sub-funds within the Aviva Investors Passive Funds ACS Scheme may hold investments in other Sub-funds of the Scheme. Details of these cross holdings as at 31 March 2026 are as follows:
AI Multi-Asset (40-85% Shares) Index Fund
Fund Units
Market Value £000 AI Developed Asia Pacific ex Japan Equity Index Fund 242,039 9,960 AI Developed European ex UK Equity Index Fund 1,653,193 3,730 AI Developed Overseas Government Bond (Ex UK) Index Fund 45,774,603 31,542 AI Index-Linked Gilts Over 5 Years Index Fund 37,275,991 40,424 AI Japanese Equity Index Fund 145,641,435 124,612 AI Non-Gilt Bond All Stocks Index Fund 161,467,358 479,991 AI UK Equity Index Fund 104,072,316 213,350 AI UK Gilts All Stocks Index Fund 222,067,399 398,424 AI US Equity Index Fund 44,434,163 83,134
AI 40:60 Global Equity Index Fund
Fund Units
Market Value £000 AI Developed Asia Pacific ex Japan Equity Index Fund 4,589,286 8,480 AI Developed European ex UK Equity Index Fund 10,445,382 21,445 AI Developed World ex UK Equity Index Fund 77,264,990 203,908 AI Japanese Equity Index Fund 6,021,515 11,266 AI UK Equity Index Fund 113,443,153 203,533 AI US Equity Index Fund 38,693,158 115,022
CROSS HOLDINGS
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AI 30:70 Global Equity (Currency Hedged) Index Fund
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The Sub-fund is a Sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Subfund was authorised by the FCA on 29 September 2017 and launched on 24 November 2017.
INVESTMENT OBJECTIVE AND POLICY The aim of the Sub-fund is to seek to provide capital growth and income for investors by tracking the performance of the Composite Benchmark Index. The Sub-fund seeks to achieve 30% exposure to equity securities of companies listed in the UK, 60% exposure to equity securities of companies listed in developed overseas markets and 10% exposure to equity securities of companies listed in emerging markets. In pursuing this objective the Sub-fund will directly invest into constituents of the Composite Benchmark Index with regard UK and developed overseas equity exposure. With regard to emerging market equity exposure the Sub-fund will invest in units of collective investment schemes. The Sub-fund may also invest in permitted transferable securities, permitted money-market instruments, permitted deposits, units of collective investment schemes (including other suitable Sub-funds of the Scheme and schemes operated by other Aviva Group entities and group entities of the Investment Manager) and exchange traded funds (including funds operated by group entities of the Investment Manager). Derivatives and forward transactions may be used for the purposes of investment purposes and efficient portfolio management. The Investment Manager will seek to hedge to Sterling 95% of foreign currency exposure arising from developed overseas equities, with hedging being re-set to 95% on a monthly basis. No other foreign currency exposure will be hedged.
COMPOSITE BENCHMARK INDEX 30% UK Equity Exposure 30.0% FTSE® All Share Index 60% Developed Overseas Equity Exposure 60.0% FTSE® Custom Developed ex UK, Canada, Israel and S Korea 95% Hedged to GBP Index 10% Emerging Markets Equity Exposure 10% MSCI Emerging Markets index Composite Benchmark Index description The FTSE® All Share Index represents the performance of all eligible companies listed on the London Stock Exchange’s (LSE) main market, which pass screening for size and liquidity. It is a free float-adjusted market capitalisation weighted index which captures 98 per cent of the UK’s market capitalisation. Free float-adjusted means that only shares readily available in the market rather than all of a company’s issued shares are used in calculating the index. Free float-adjusted market capitalisation is the share price of a company multiplied by the number of shares readily available in the market. The constituents and the weightings comprising the FTSE® All Share Index will be reviewed and reset by FTSE® quarterly on the third Friday in March, June, September, and December. The underlying FTSE® All Share Index of the Composite Benchmark Index is valued at the close of day. Further details regarding the FTSE® All Share Index (including its constituents) are available on the index provider’s website at http://www.ftse.com/Indices/
The FTSE Developed ex UK, Canada, Israel, and South Korea 95% Hedged to GBP Index is derived from the FTSE Global Equity Index Series (GEIS), it is a market-capitalisation weighted index comprising the large and mid cap stocks of all Developed markets excluding UK, Canada, Israel and South Korea. The index is designed to help investors to manage the currency risk of holding stocks traded in foreign currencies. Hedging methodology allows exposure to the returns of the foreign assets in the index without being exposed to the volatility of the exchange rates against the British Pound Sterling (GBP). The constituents and the weightings comprising the FTSE Developed ex UK, Canada, Israel, and South Korea 95% Hedged to GBP Index will be reviewed and reset by FTSE® semi-annually. The underlying FTSE Developed ex UK, Canada, Israel, and South Korea 95% Hedged to GBP Index of the Composite Benchmark Index is valued at close of day. Further details regarding the FTSE Developed ex UK, Canada, Israel, and South Korea 95% Hedged to GBP Index (including its constituents) are available on the index provider’s website at http://www.ftse.com/Indices/ The MSCI Emerging Markets Index captures large and mid cap representation across 24 Emerging Markets countries. The index covers approximately 85% of the free float-adjusted market capitalisation in each country. The constituents and the weightings comprising the MSCI Emerging Markets Index will be reviewed and reset by MSCI quarterly in February, May, August and November. The underlying MSCI Emerging Markets Index of the Composite Benchmark Index is valued at the close of day. Further details regarding the MSCI Emerging Markets Index (including its constituents) are available on the index provider’s website at https://www.msci.com/constituents The Sub-fund will rebalance daily to the respective 30% UK Equity, 60% Developed Overseas Equity and 10% Emerging Market Equity set out in the Composite Benchmark Index above, subject to tolerances mandated to the Investment Manager from time to time. In addition the 60% exposure to overseas regions within the Developed Overseas element of the Composite Benchmark Index will be rebalanced daily to the geographical split of the weightings within the FTSE® Developed ex-UK Canada, Israel, and South Korea 95% Hedged to GBP Index subject to tolerances mandated to the Investment Manager from time to time. The Composite Benchmark Index is valued at the close of day. Benchmark Regulation The ACS Manager is required under Regulation (EU) 2016/1011 (the “Benchmark Regulation”) to set out whether the Composite Benchmark Index is included in the European Securities and Markets Authority (“ESMA”) Register of Benchmarks. FTSE International Limited has been granted authorisation by ESMA as a Benchmark Administrator in respect of all its indices, including the relevant constituents of the Composite Benchmark Index. MSCI Limited has been granted authorisation by ESMA as a Benchmark Administrator in respect of all its indices, including the relevant constituents of the Composite Benchmark Index.
AI 30:70 GLOBAL EQUITY (CURRENCY HEDGED) INDEX FUND
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AI 30:70 Global Equity (Currency Hedged) Index Fund
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AI 30:70 GLOBAL EQUITY (CURRENCY HEDGED) INDEX FUND (CONTINUED)
Benchmark replicating/non-replicating Fund Non-replicating Fund. For details of the characteristics of replicating funds and nonreplicating funds please refer to section 24 (c) of the Prospectus. Unitholders should note that the actual performance of the Sub-fund will not necessarily be aligned with the performance of the Composite Benchmark Index, this is referred to as Tracking Error risk. For a detailed explanation of Tracking Error risk and the circumstances under which this may arise, please refer to section 26 of the Prospectus.
PERFORMANCE AND RISK MEASUREMENT The Sub-fund’s performance is compared against the Benchmark Index because the Sub-fund intends to replicate the performance of the Benchmark Index. The Sub-fund uses a “tracking error” to measure the consistency between the Sub-fund’s returns and the returns of the Benchmark Index. In general, the lower the tracking error, the more consistent the Sub-fund’s returns are relative to the Index, and vice-versa. The Sub-fund has a yearly tracking error target range of 0–0.30% (excluding charges). In normal market conditions the anticipated level of tracking error will be within 0.30% (excluding charges) of the Benchmark Index. As at 31 March 2026 the tracking error was 0.12%.
INVESTMENT MANAGERS’ REPORT Performance Over the six months ended 31 March 2026, the Sub-fund returned 3.08%. The Sub-fund’s benchmark returned 3.04% over the same period. Quarter 4 2025 Global bond market sentiment was mixed in December, with credit spreads tightening while developed market government bond yields moved mostly higher over the month. In the US, headline Consumer Price Index (CPI) inflation accelerated to 2.7% year-on-year (YoY), below the market expectation of 3.1%. Core CPI, which excludes food and energy, rose to 2.6% YoY, also below the 3.0% expected. In Europe, headline inflation edged down to 2.1% YoY, just under the 2.2% consensus. By contrast, UK inflation printed softer than expected at 3.2% YoY (vs 3.5%). Lastly, Japan’s CPI printed at 2.9% YoY, in line with expectations. In the US, the unemployment rate rose to 4.6% in November, though the household survey quality deteriorated, likely overstating the actual labour market weakening. October payroll data fell by 105k due to federal job losses, then rebounded to +64k in November, while private payroll growth averaged around 60k across both months. At its December meeting, the Federal Open Market Committee (FOMC) cut the federal funds rate by 25 basis points (bps) to 3.50-3.75% and announced $40bn in reserve management purchases for the following month, with ongoing purchases set to maintain ample reserves. Meanwhile, media reports flagged National Economic Council Director Kevin Hassett as a potential successor to Chair Powell.
In the euro area, the European Central Bank (ECB) kept rates unchanged at 2%, striking a mildly hawkish tone after upgrading its 2026-27 growth and inflation forecasts, even as activity indicators remained weak, with the composite PMI easing to 51.9 in December. The unemployment rate was 6.4% in October, with revisions indicating it bottomed at 6.2% a year earlier and the number of unemployed individuals was rising by a cumulative 268k year-to-date. In the UK, the Bank of England cut the Bank Rate by 25bps to 3.75%, maintaining cautious guidance amid mixed labour data, including declining HMRC payrolls and a rising unemployment rate. In Japan, GDP revisions lifted the level of output relative to earlier estimates despite a larger-than-expected downward revision to Q3 growth, while the Bank of Japan raised policy rates by 25bps to 0.75%, offering limited forward guidance on the pace of further normalization. Developed market bond performance was mostly negative over the month. The 2-year US treasury yield fell by 2 bps to 3.47%, though the 10-year rose by 15 bps to 4.17%. In Europe, the 2-year German bund yield rose by 9 bps to 2.12%, and the 10-year point of the curve rose by 17 bps to 2.85%. In the UK, 2-year bond yields declined by 1 bp to 3.74%, whereas the 10year yield rose by 4 bps to 4.48%. Finally, the 2-year and 10-year point of the curve rose in Japan – the 2-year increased by 20 bps to 1.17% while the 10-year rose by 25 bps to 2.06%. The US investment grade corporate bond index returned -0.20% in December, while the European investment grade corporate bond index generated a negative return of -0.19%. US high yield bonds returned 0.69%, while European high yield bonds also delivered a positive return of 0.37%. In emerging markets, the local currency debt index returned 1.49% (unhedged), while the hard currency debt index delivered returns of 0.72%. Most G10 currencies appreciated against the US dollar over the month. The Swedish krona was the best performing currency, appreciating by +2.57% against the US dollar. Quarter 1 2026 Global bond markets posted negative returns in March, with developed market government and corporate bonds both under pressure following the escalation of military tensions in the Middle East. In the US, headline CPI inflation recorded 2.4% year-on-year (YoY), in line with expectations, while core CPI (excluding food and energy) remained steady at 2.5% YoY, as expected. In Europe, final headline inflation remained at 1.9% YoY, as expected, for the February period; although provisional headline CPI inflation accelerated to 2.5% YoY, below market expectation of 2.6% YoY. In the UK, CPI remained in line with market expectations at 3.0% YoY. Meanwhile, Japan’s CPI printed at 1.3% YoY, down from 1.5% YoY in the previous month, and below expectations of 1.5% YoY. In the US, the Federal Reserve held rates at 3.75% as expected, with Chair Powell highlighting elevated uncertainty related to the war in the Middle East. Meanwhile, February payrolls fell short of expectations at -92k, while prior months were revised lower, and the unemployment rate rose from 4.3% to 4.4%. January retail sales broadly met expectations but remained weak, with headline sales down -0.2%, while initial jobless claims stayed relatively contained, printing at 213k early in the month before falling to 205k and then edging back up to 210k by month end.
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INVESTMENT MANAGERS’ REPORT (CONTINUED) Quarter 1 2026 (continued) In the euro area, the European Central Bank (ECB) held rates at 2.0% as expected at the March meeting. In terms of economic data, euro area GDP for Q4 was revised slightly lower from 0.3% quarter-on-quarter (QoQ) to 0.2%, while the labour market remained firm, with unemployment falling from 6.2% to a record low of 6.1%. Retail sales came in below consensus at -0.1% MoM, industrial production contracted by -1.5% MoM in January, and the composite PMI fell from 51.9 to a 10-month low of 50.5 in March. In the UK, the Bank of England (BoE) left Bank Rate unchanged at 3.75% at the March meeting. Meanwhile, January GDP was weaker than expected at 0.0% versus 0.2% expected, the March composite PMI fell from 53.7 to 51.0, private sector wage growth eased to 3.31% in the three months to January from 3.41% in December, and the unemployment rate remained at 5.2%. Lastly in Japan, the Bank of Japan (BoJ) kept its policy rate at 0.75% as expected, though there was a stronger view that upside risks to inflation had increased given the tensions in the Middle East. Developed market government bonds delivered mostly negative returns in March. In the US, the 2-year Treasury yield rose by 42 bps (bps) to 3.79%, while the 10-year increased by 38bps to 4.32%. In Europe, German bund yields also rose sharply, with the 2-year up 61bps to 2.61% and the 10-year up 36bps to 3.00%. Similarly, the 2-year UK gilt yield increased by 88bps to 4.41% while the 10-year rose by 68bps to 4.92%. In Japan, the 2-year yield rose by 12bps to 1.34%, while the 10-year was up 24bps to 2.35%. Corporate bonds also delivered negative returns during the month. The US investment grade corporate bond index returned -1.98%, and the European investment grade index generated a return of -2.26%. US high yield bonds returned -1.13%, and European high yield bonds delivered a return of -1.13%. In emerging markets, the local currency debt index returned -5.55% (unhedged), and the hard currency debt index returned -3.27%. In currency markets, all G10 currencies depreciated against the US dollar, the worst performer being the Swedish krona which depreciated by -4.65%. May 2026 Source: BlackRock Please note that the performance figures quoted in the comparative tables are based on the net asset value per the published accounts and are shown after charges. Any opinions expressed are those of the investment managers. They should not be viewed as a guarantee of a return from an investment in the Sub ‑ fund. The content of the commentary should not be viewed as a recommendation to invest nor buy or sell securities. Past performance is not a guide to the future. The value of an investment and any income from it can go down as well as up. Investors may not get back the original amount invested. “FTSE” is a trade mark owned by the London Stock Exchange Plc, and is used by FTSE International Limited (“FTSE”) under Licence. FTSE does not sponsor, endorse or promote this product and is not in any way connected to it and does not accept any liability in relation to its issue, operation and trading. All copyright in the index values and constituent list vests in FTSE.
AI 30:70 GLOBAL EQUITY (CURRENCY HEDGED) INDEX FUND (CONTINUED)
Performance History
Calendar year
2021 %
2022 %
2023 %
2024 %
2025 % Insured Pension Accumulation Units 19.9 -10.8 16.9 17.1 20.6 UK Institutional Accumulation Units 19.8 -11.0 16.8 16.9 20.6 Composite Index 19.7 -11.2 17.0 16.7 20.6 Performance figures are based on net asset value, per the published accounts and are shown after charges. Source for all data in subsequent periods: Aviva Investors/Morningstar. This is based on index provider data where applicable. All performance figures are calculated based on the published price, with net income reinvested in GBP, net of fees. Periods for which less than a full calendar year’s data is available will be labelled as N/A.
Risk and Reward profile The Risk and Reward Indicator table demonstrates where the Sub-fund ranks in terms of its potential risk and reward. The higher the rank the greater the potential reward but the greater the risk of losing money. It is based on past data, may change over time and may not be a reliable indication of the future risk profile of the Sub-fund. The highlighted number in the table below shows the Sub-fund’s ranking on the Risk and Reward Indicator.
Lower risk Higher risk
Potentially lower reward Potentially higher reward 1 2 3 4 5 6 7 Please note that even the lowest risk class can lose you money and that extreme market circumstances can mean you suffer severe losses in all cases. The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. Relevant risks: The indicator does not take into account the following risks of investing in this Sub-fund: – For Sub-funds investing globally, currency exchange rate fluctuations may have a positive or negative impact on the value of your investment. – The Sub-fund can use derivatives in order to meet its investment objectives or to protect from price movements. This may result in gains or losses that are greater than the original amount invested. – Further details on risk are set out in the Prospectus in the section Risk Factors.
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PERFORMANCE RECORD
Insured Pension Accumulation Units
Six months ended 31.03.26 (pence per Unit)
Year ended 30.09.25 (pence per Unit)
Year ended 30.09.24 (pence per Unit)
Year ended 30.09.23 (pence per Unit) Change in net assets per Unit Opening net asset value per Unit 205.69 176.11 141.99 121.84 Return before operating charges † 6.68 29.58 34.12 20.15 Operating charges # – – – Return after operating charges † 6.68 29.58 34.12 20.15 Distributions on accumulation Units – ‡ (3.36) (3.31) (3.63) Retained distributions on accumulation Units – 3.36 3.31 3.63 Closing net asset value per Unit 212.37 205.69 176.11 141.99
† after direct transaction costs of# f# : 0.03 0.07 0.06 0.06 # actual expenses expressed by reference to the average Units in issue. Performance Return after charges 3.25% 16.80% 24.03% 16.54%
Other information Closing net asset value (£000) 452,836 559,249 577,515 605,737 Closing number of Units 213,233,089 271,884,867 327,922,905 426,618,760 Operating charges* 0.01% – – Direct transaction costs** 0.01% 0.04% 0.04% 0.04% Prices ^ Highest Unit price (p) 227.80 205.60 176.20 147.90 Lowest Unit price (p) 205.20 158.40 137.00 121.10 * All expenses are borne by the Investment Manager, operating charges are nil. ** Expressed by reference to the average NAV during the period/year. ^ These prices may have been calculated on a different basis to the closing net asset value per Unit shown in the comparative table, this may result in the closing net asset value per Unit being higher or lower than the published highest or lowest prices for the period/year. ‡ The income distribution for this Sub-fund is made annually as at the year-end accounting date of 30 September, being allocated to Unitholders on or before 30 November. Please see the Prospectus for full details.
COMPARATIVE TABLE For the six months ended 31 March 2026 (unaudited)
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PERFORMANCE RECORD (CONTINUED)
COMPARATIVE TABLE For the six months ended 31 March 2026 (unaudited)
UK Institutional Accumulation Units
Six months ended 31.03.26 (pence per Unit)
Year ended 30.09.25 (pence per Unit)
Year ended 30.09.24 (pence per Unit)
Year ended 30.09.23 (pence per Unit) Change in net assets per Unit Opening net asset value per Unit 202.99 173.73 140.24 120.55 Return before operating charges † 6.50 29.26 33.49 19.69 Operating charges # – – – Return after operating charges † 6.50 29.26 33.49 19.69 Distributions on accumulation Units – ‡ (3.42) (3.07) (3.35) Retained distributions on accumulation Units – 3.42 3.07 3.35 Closing net asset value per Unit 209.49 202.99 173.73 140.24
† after direct transaction costs of# f# : 0.03 0.07 0.06 0.06 # actual expenses expressed by reference to the average Units in issue. Performance Return after charges 3.20% 16.84% 23.88% 16.33%
Other information Closing net asset value (£000) 45 56 58 60 Closing number of Units 21,591 27,614 33,297 42,855 Operating charges* 0.01% – – Direct transaction costs** 0.01% 0.04% 0.04% 0.00% Prices ^ Highest Unit price (p) 224.70 202.90 173.90 146.10 Lowest Unit price (p) 202.50 156.20 135.30 119.80 * All expenses are borne by the Investment Manager, operating charges are nil. ** Expressed by reference to the average NAV during the period/year. ^ These prices may have been calculated on a different basis to the closing net asset value per Unit shown in the comparative table, this may result in the closing net asset value per Unit being higher or lower than the published highest or lowest prices for the period/year. ‡ The income distribution for this Sub-fund is made annually as at the year-end accounting date of 30 September, being allocated to Unitholders on or before 30 November. Please see the Prospectus for full details.
Units in issue
Unit class Opening 01.10.25 Units Issued Units Redeemed
Closing 31.03.26 Insured Pension Accumulation Units 271,884,867 10,298,393 (68,950,171) 213,233,089 UK Institutional Accumulation Units 27,614 – (6,023) 21,591
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PORTFOLIO STATEMENT As at 31 March 2026 (unaudited)
EQUITIES – 99.87% (99.19%) UNITED KINGDOM – 27.77% (27.42%) 50,778 3i Group 1,238 0.27 1,302 4imprint Group 44 0.01 4,390 A. G. Barr 29 0.01 14,835 Aberdeen Diversified Income & Growth 2 91,330 Aberdeen Group 173 0.04 1,664 Aberdeen New India Investment Trust 11 1,961 Aberdeen Private Equity Opportunities Trust 11 5,478 Aberdeen Standard Asia 20 2,405 Aberdeen Standard Equity Income Trust 9 44,736 Aberdeen Standard European Logistics Income 12 1,196 Aberdeen UK Smaller Companies Growth Trust 6 3,319 Aberforth Smaller Companies Investment Trust 48 0.01 12,703 Admiral Group 400 0.09 34,620 Airtel Africa 119 0.03 19,837 AJ Bell 93 0.02 8,719 Alfa Financial Software Holdings 13 19,312 Alliance Witan 231 0.05 17,484 Allianz Technology 89 0.02 54,605 Anglo American 1,735 0.38 1,812 Anglo-Eastern Plantations 31 0.01 17,254 Antofagasta 574 0.13 22,333 AO World 19 3,339 Applied Nutrition 7 3,133 Aptitude Software 7 3,822 Artemis UK Future Leaders 12 22,472 Ashmore Group 48 0.01 9,672 Ashoka India 21 0.01 3,554 Ashtead Technology Holdings 15 2,559 ASOS 6 14,719 Associated British Foods 276 0.06 17,986 Aston Martin Lagonda Global Holdings 7 77,211 AstraZeneca 11,342 2.50 6,147 Auction Technology 21 0.01 8,589 Augmentum Fintech 9 8,537 Aurora Investment Trust 19 43,003 Auto Trader Group 202 0.05 24,622 AVI Global Trust 60 0.01 8,541 AVI Japan Opportunity Trust 14 87,909 Aviva Warrants 27/08/2026 # 544 0.12 1,862 Avon Technologies 31 0.01 25,462 Babcock International 295 0.07 154,432 BAE Systems 3,398 0.75 5,339 Baillie Gifford China Growth Trust 16 8,836 Baillie Gifford European Growth Trust 8 3,225 Baillie Gifford Japan Trust 27 0.01 17,899 Baillie Gifford Shin Nippon Investment Trust 24 0.01 11,364 Baillie Gifford US Growth Trust 32 0.01 4,788 Bakkavor Group ~+ – 24,777 Balfour Beatty 187 0.04 17,320 Baltic Classifieds Group 32 0.01 43,187 Bankers Investment Trust 55 0.01 715,980 Barclays Bank 2,788 0.62 68,210 Barratt Redrow 178 0.04 9,615 BB Healthcare Trust 12 29,500 Beazley 373 0.08 5,780 Bellway 107 0.02 4,502 Berkeley Group Holdings 155 0.03 8,595 Big Yellow Group REIT 73 0.02 69,307 Biopharma Credit 49 0.01 431 Biotech Growth Trust 5 –
Holding or Nominal value Market value £000
Total net assets%
Page 14
Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
12
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
UNITED KINGDOM – 27.77% (27.42%) (continued) 11,094 Blackrock Energy and Resources Income Trust 21 0.01 13,418 BlackRock Frontiers Investment Trust 23 0.01 2,888 BlackRock Greater Europe Investment Trust 15 1,754 BlackRock Smaller Companies Trust 21 0.01 1,081 BlackRock Sustainable American Income Trust 3 1,859 BlackRock Throgmorton Trust 10 10,592 BlackRock World Mining Investment Trust 93 0.02 5,428 Bloomsbury Publishing 31 0.01 7,754 Bodycote 47 0.01 808,339 BP 4,901 1.08 17,694 Breedon Group 53 0.01 22,106 Bridgepoint Group 51 0.01 49,225 British Land REIT 175 0.04 1,614 Brooks MacDonald 22 0.01 830 Brunner 11 295,587 BT Group 622 0.14 16,263 Bunzl 366 0.08 17,972 Burberry Group 196 0.05 15,110 Bytes Technology Group 42 0.01 16,551 Caledonia Investments 53 0.01 6,072 Capita PLC 16 74,016 Capital & Counties Properties 94 0.02 10,822 Capital & Counties Properties 13 1,005 Capital Gearing Trust 50 0.01 5,024 Capricorn Energy 15 24,509 Card Factory 16 6,631 Carnival (London listed) 125 0.03 238,326 Centrica 506 0.11 8,037 Ceres Power 25 0.01 14,658 Chemring 74 0.02 7,579 Chesnara 23 0.01 1,218 City of London Investment 5 25,197 City of London Investment Trust 136 0.03 1,396 Clarkson 64 0.01 7,824 Close Brothers 31 0.01 14,057 CLS Holdings 7 1,642 CMC Markets 6 78,442 Coats Group 63 0.01 10,718 Coca-Cola Europacific 736 0.16 86,955 Compass Group 1,374 0.30 2,814 Computacenter 84 0.02 97,438 Convatec Group 210 0.05 9,711 Costain 18 10,762 Coupland Cardiff Japan Income & Growth Trust 24 0.01 2,632 Cranswick 138 0.03 10,145 Crest Nicholson Holdings 10 7,022 Croda International 198 0.05 1,394 CT Private Equity Trust 6 6,235 CT UK Capital & Income Investment Trust 20 0.01 43,356 Currys 54 0.01 11,202 Custodian REIT 9 2,105 CVS Group 24 0.01 5,126 Derwent London REIT 80 0.02 114,571 Diageo 1,599 0.35 6,768 Diploma 403 0.09 5,613 Discoverie Group 30 0.01 21,721 Domino‘s Pizza 37 0.01 40,219 Dr. Martens 25 0.01 17,318 Drax Group 153 0.03 4,293 Dunedin Income Growth Investment Trust 12 6,398 Dunelm Group 50 0.01
Holding or Nominal value Market value £000
Total net assets%
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
13
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
UNITED KINGDOM – 27.77% (27.42%) (continued) 32,084 EasyJet 111 0.02 8,233 Ecofin Global Utilities & Infrastructure Trust 21 0.01 20,531 Ecora Resources 29 0.01 7,510 Edinburgh Investment Trust 58 0.01 15,934 Edinburgh Worldwide Investment Trust 35 0.01 23,022 Elementis 34 0.01 3,149 Elixirr International 19 10,350 Endeavour Mining 462 0.10 6,920 Energean Oil & Gas 60 0.01 106,064 EnQuest 22 0.01 5,016 EP Global Opportunities Trust 17 20,831 Essentra 19 1,714 European Opportunities Trust 14 72,801 EVRAZ Group ~+ * – 7,751 FDM Group Holdings 8 7,615 Ferrexpo 4 1,688 Fidelity Asian Values Investment Trust 10 17,582 Fidelity China Special Situations Trust 49 0.01 24,032 Fidelity European Values 91 0.02 15,019 Fidelity Special Values 60 0.01 39,722 Finablr ~ * + – 5,256 Finsbury Growth & Income 38 0.01 31,807 FirstGroup 53 0.01 24,089 Foreign & Colonial Investment Trust 290 0.06 6,893 Forterra 11 19,314 Foxtons Group 8 5,929 Frasers Group 38 0.01 9,354 Fresnillo 309 0.07 1,372 Fuller, Smith & Turner ‘A’ 9 11,685 Funding Circle Holdings 15 5,540 Future 16 3,871 Galliford Try 19 1,663 Games Workshop 294 0.07 5,810 Gamma Communications 41 0.01 14,441 GB Group 29 0.01 11,368 Genuit Group 33 0.01 3,596 Genus 85 0.02 109 Goodwin 12 26,545 Gore Street Energy Storage Fund 14 36,429 Grainger 59 0.01 19,652 Great Portland REIT 56 0.01 115,788 Greencoat UK Wind 112 0.02 5,057 Greggs 77 0.02 205,686 GSK 4,245 0.94 457,737 Haleon 1,711 0.38 18,945 Halma 719 0.16 27,702 Hammerson REIT 82 0.02 32,421 Harbour Energy 97 0.02 10,709 Harworth Group 16 83,848 Hays 28 0.01 6,210 Headlam Group 2 3,926 Helical 7 36,957 Helios Towers 66 0.02 7,086 Henderson High Income Trust 13 2,657 Henderson Smaller Companies Investment Trust 21 0.01 5,249 Henry Boot 10 2,743 Herald Investment Trust 66 0.01 22,676 HgCapital Trust 88 0.02 107,580 HICL Infrastructure 128 0.03 8,705 Hikma Pharmaceuticals 110 0.02 4,083 Hill & Smith Holdings 86 0.02
Holding or Nominal value Market value £000
Total net assets%
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
14
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
UNITED KINGDOM – 27.77% (27.42%) (continued) 3,795 Hilton Food Group 19 15,546 Hochschild Mining 92 0.02 9,813 Hollywood Bowl Group 23 0.01 44,051 Home Reit 4 2,212 Hostelworld Group 2 27,257 Howden Joinery Group 216 0.05 884,772 HSBC Holdings 10,807 2.39 6,773 Hunting 34 0.01 21,696 Ibstock 22 0.01 2,878 ICG Enterprise Trust 38 0.01 16,697 IG Group Holdings 239 0.05 12,317 IMI 311 0.07 12,976 Impax Environmental Markets 53 0.01 15,838 Inchcape 119 0.03 65,260 Informa 488 0.11 11,820 IntegraFin Holdings 36 0.01 7,260 InterContinental Hotels Group 717 0.16 13,787 Intermediate Capital Group 210 0.05 1,188 International Biotechnology Trust 11 4,599 International Personal Finance 11 8,229 International Workplace Group 11 7,788 Intertek Group 284 0.06 24,799 Intu Properties* ~+ – 13,516 Invesco Asia Trust 56 0.01 4,045 Invesco Global Equity Income Trust 14 28,997 Investec 166 0.04 60,148 IP Group 32 0.01 6,729 Ithaca Energy 17 173,758 ITV 130 0.03 111,849 JD Sports 79 0.02 1,772 JD Wetherspoon 10 8,491 Johnson Matthey 161 0.04 25,791 Johnson Service Group 33 0.01 8,272 JPMorgan American Investment Trust 88 0.02 2,407 JPMorgan Asia Growth & Income 11 6,710 JPMorgan China Growth & Income 18 4,408 JPMorgan Claverhouse Investment Trust 37 0.01 48,775 JPMorgan Emerging Markets Investment Trust 68 0.02 5,438 JPMorgan European Discovery Trust 31 0.01 18,531 JPMorgan European Investment Trust 24 0.01 20,324 JPMorgan Global Emerging Markets Income Trust 35 0.01 27,308 JPMorgan Global Growth & Income Investment Trust 148 0.03 3,058 JPMorgan Indian Investment Trust 25 0.01 8,471 JPMorgan Japanese Investment Trust 59 0.01 4,857 JPMorgan UK Smaller Companies Investment Trust 14 4,352 JPMorgan US Smaller Companies Investment Trust 17 22,171 Jupiter Fund Management 37 0.01 44,368 Just Group 97 0.02 3,450 Kainos Group 25 0.01 3,420 Keller 66 0.01 20,206 Kier Group 38 0.01 86,996 Kingfisher 247 0.05 37,578 Land Securities 208 0.05 6,920 Law Debenture Investment Trust 73 0.02 284,345 Legal & General 700 0.16 1,579 Lion Finance Group 147 0.03 3,979 Liontrust Asset Management 10 3,049,381 Lloyds Banking Group 2,816 0.62 25,298 London Stock Exchange Group 2,242 0.50 113,367 Londonmetric Property 206 0.05 18,202 Lowland Investment 29 0.01
Holding or Nominal value Market value £000
Total net assets%
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
15
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
UNITED KINGDOM – 27.77% (27.42%) (continued) 5,157 LSL Property Services 11 3,982 Luceco 7 107,662 M&G 293 0.07 282 Macfarlane Group + – 2,325 Majedie Investment Trust 6 103,484 Marks & Spencer Group 351 0.08 17,353 Marshalls 24 0.01 52,736 Marston’s 28 0.01 6,004 Mears Group 20 63,360 Melrose 318 0.07 9,539 Merchants Trust 56 0.01 5,640 Metlen Energy & Metals 164 0.04 14,610 Metro Bank 17 2,596 Mid Wynd International + 18 15,948 Mitchells & Butlers 41 0.01 64,861 Mitie Group 110 0.02 5,312 MJ Gleeson 14 44,853 Mobico Group 8 7,727 Molten Ventures 35 0.01 22,068 Mondi 186 0.04 8,569 Monks Investment Trust 120 0.03 10,263 Montanaro European Smaller Companies Trust 15 14,357 Montanaro UK Smaller Companies 13 23,553 Mony Group 35 0.01 15,830 Moonpig Group 33 0.01 11,640 Morgan Advanced Materials 23 0.01 2,356 Morgan Sindall Group 97 0.02 4,098 Motorpoint Group 5 4,630 Murray Income Trust 41 0.01 28,362 Murray International Trust 96 0.02 254,578 National Grid 3,231 0.71 409,707 NatWest Group 2,262 0.50 18,281 NCC Group 21 30,635 Newriver REIT 21 0.01 5,996 Next Group 759 0.17 11,558 Ninety One 26 0.01 12,708 Nippon Active Value Fund 28 0.01 2,249 Norcros 6 6,592 North American Income Trust 25 0.01 7,859 North Atlantic Smaller 26 0.01 33,172 Ocado Group 59 0.01 39,042 Octopus Renewables Infrastructure 21 0.01 3,436 Odyssean Investment Trust 6 17,911 OSB Group 93 0.02 2,849 Oxford BioMedica 15 2,670 Oxford Instruments 64 0.01 8,899 Oxford Nanopore Technologies 10 9,538 Pacific Assets Investment Trust 34 0.01 3,707 Pacific Horizon Investment Trust 32 0.01 9,567 PageGroup 13 43 Palace Capital + – 101,036 Pan African Resources 140 0.03 33,391 Pantheon Infrastructure 36 0.01 19,954 Pantheon International 72 0.02 8,953 Paragon Banking Group 64 0.01 1,756 Paypoint 10 32,444 Pearson 321 0.07 23,877 Pennon Group 126 0.03 15,881 Persimmon 170 0.04 16,666 Personal Assets Trust 87 0.02 24,173 Pets at Home Group 44 0.01
Holding or Nominal value Market value £000
Total net assets%
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
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PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
UNITED KINGDOM – 27.77% (27.42%) (continued) 37,735 Phoenix Group Holdings 256 0.06 13,647 Photo-Me International 19 3,388 Pinewood Technologies Group 7 7,280 Polar Capital Global Financials Trust 15 8,244 Polar Capital Global Healthcare Growth & Income Trust 30 0.01 56,409 Polar Capital Technology Trust 270 0.06 1,638 Porvair 12 38,529 Premier Foods 71 0.02 122,531 Primary Health Properties REIT 111 0.03 130,558 Prudential 1,355 0.30 14,087 Puretech Health 15 18,557 PZ Cussons 15 23,587 QinetiQ 107 0.02 67,241 Quilter 117 0.03 21,351 Rank Group 19 2,078 Raspberry 9 2,915 Rathbone Brothers 58 0.01 29,170 Reach 18 33,559 Reckitt Benckiser Group 1,707 0.38 83,557 RELX 2,069 0.46 9,486 RELX (EUR) 237 0.05 1,837 Renishaw 65 0.01 127,324 Rentokil Initial 594 0.13 328 Residential Secure REIT + – 38,926 Rightmove 167 0.04 53,412 Rio Tinto 3,708 0.82 5,858 RIT Capital Partners 123 0.03 3,030 Robert Walters 3 437,062 Rolls-Royce 4,945 1.09 45,508 Rotork 142 0.03 1,788 Royalty Pharma 65 0.01 25,841 RS Group 145 0.03 269 S&U 5 11,075 Sabre Insurance Group 17 10,116 Safestore Holdings REIT 64 0.01 6,317 Saga 29 0.01 48,341 Sage Group 405 0.09 86,448 Sainsbury (J) 293 0.07 6,708 Savills 55 0.01 6,587 Schroder Asia Pacific Fund 43 0.01 6,759 Schroder Asian Total Return 38 0.01 5,631 Schroder Income Growth Fund 19 0.01 9,656 Schroder Japan Growth Investment Trust 30 0.01 2,844 Schroder UK Mid Cap Fund 19 67,614 Schroder UK Public Private Trust 9 37,353 Schroders 215 0.05 10,812 Scottish American Investment Trust 53 0.01 56,247 Scottish Mortgage Investment Trust 670 0.15 2,853 Scottish Oriental Smaller Companies 7 46,568 SDCL Energy Efficiency Income Trust 19 1,554 Secure Trust Bank 20 68,324 Segro REIT 440 0.10 20,148 Senior 58 0.01 14,662 Seraphim Space Investment Trust 22 0.01 55,037 Serco Group 157 0.03 29,852 Severfield 7 13,426 Severn Trent 414 0.09 5,675 Shawbrook Group 18 295,187 Shell 10,575 2.34 65,677 SIG 6 –
Holding or Nominal value Market value £000
Total net assets%
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
17
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% UNITED KINGDOM – 27.77% (27.42%) (continued) 43,009 Smith & Nephew 510 0.11 16,513 Smiths Group 376 0.08 37,063 Social Housing REIT 27 0.01 14,524 Soco International 4 6,842 Softcat 83 0.02 36,247 Speedy Hire 8 3,711 Spirax-Sarco Engineering 248 0.06 7,606 Spire Healthcare Group 11 62,333 SSE 1,617 0.36 40,719 SSP Group 71 0.02 25,823 St. James’s Place Capital 304 0.07 94,064 Standard Chartered 1,462 0.32 6,538 SThree 10 722 Strategic Equity Capital 2 1,843 STV Group 2 57,250 Supermarket Income REIT 45 0.01 6,839 Synthomer 3 28,810 Target Healthcare 29 0.01 15,212 Tate & Lyle 55 0.01 174,831 Taylor Wimpey 154 0.03 2,177 TBC Bank Group 89 0.02 3,159 Telecom Plus 41 0.01 13,583 Temple Bar Investment Trust 51 0.01 48,484 Templeton Emerging Markets Investment Trust 119 0.03 320,334 Tesco 1,515 0.34 23,297 The Global Smaller Companies Trust 41 0.01 8,430 The Gym Group 15 38,029 The Mercantile Investment Trust 91 0.02 19,897 THG 6 10,772 Topps Tiles 4 15,491 TR European Growth Trust 31 0.01 15,930 TR Property Investment Trust 48 0.01 19,323 Trainline 44 0.01 10,376 Travis Perkins 59 0.01 6,007 Treatt 12 5,202 Trifast 3 123,674 Tritax Big Box REIT 175 0.04 22,179 Trustpilot 43 0.01 9,621 TT Electronics 11 78,253 Tullow Oil 10 109,910 Unilever 4,615 1.02 21,965 Unite Group 100 0.02 34,608 United Utilities 455 0.10 10,640 Utilico Emerging Markets 29 0.01 3,228 Value and Indexed Property Income Trust 6 1,885 Verisure 15 8,559 Vesuvius 34 0.01 16,212 VH Global Sustainable Energy Opportunities 12 3,743 Victrex 21 0.01 71 Videndum Rights ~+ – 17,849 Vistry Group 59 0.01 947,131 Vodafone Group 1,073 0.24 10,220 Volution Group 58 0.01 11,910 Watches of Switzerland 53 0.01 13,136 Weir Group 367 0.08 8,720 Whitbread 200 0.04 6,356 WHSmith 36 0.01 15,068 Wickes Group 31 0.01 9,478 Workspace Group REIT 32 0.01 20,185 Worldwide Healthcare Trust 67 0.01
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
18
UNITED KINGDOM – 27.77% (27.42%) (continued) 4,869 XPS Pensions Group 14 8,864 Zigup 34 0.01 861 Zotefoams + 3 Total United Kingdom 125,809 27.77 AUSTRALIA – 1.24% (1.19%) 3,259 ALS 35 0.01 1,284 Ampol 22 0.01 1,484 Ansell 21 8,956 APA Group 46 0.01 2,307 Aristocrat Leisure 54 0.01 1,116 ASX 30 0.01 5,870 Atlas Arteria 13 8,705 Aurizon Holdings 18 14,708 Australia and New Zealand Banking Group 275 0.06 2,323 Bendigo Bank 12 24,242 BHP Billiton 634 0.14 2,444 Bluescope Steel 33 0.01 6,399 Brambles 74 0.02 1,432 Carsales.com 17 1,563 Challenger 6 3,505 Charter Hall Group 34 0.01 313 Cochlear 27 0.01 7,740 Coles Group 88 0.02 8,264 Commonwealth Bank of Australia 720 0.16 1,986 Computershare 29 0.01 2,391 CSL 175 0.04 6,163 Deterra Royalties 13 6,663 Dexus 20 7,201 Downer 28 0.01 8,387 Endeavour Group 14 9,804 Evolution Mining 64 0.01 1,383 Flight Centre 8 7,834 Fortescue Metals Group 83 0.02 13,033 General Property Group 31 0.01 6,530 Genesis Minerals 20 9,805 Goodman Group 129 0.03 499 Hub24 21 5,140 IGO 21 0.01 6,074 Iluka Resources 20 9,755 Insurance Australia 37 0.01 402 JB Hi-Fi 15 8,695 Lottery Corporation 24 0.01 4,419 Lynas Rare Earths 43 0.01 1,692 Macquarie Group 177 0.04 1,972 Magellan Financial Group 10 16,790 Medibank 38 0.01 2,803 Metcash 4 681 Mineral Resources 19 22,378 Mirvac Group 20 15,120 National Australia Bank 325 0.07 4,698 Nextdc 27 0.01 6,648 Northern Star Resources 70 0.02 1,360 Orica 14 9,171 Origin Energy 59 0.01 689 Perpetual Trustees Australia 6 10,816 Pilbara Minerals 29 0.01 220 Pro Medicus 13 2,826 Qantas Airways 12 6,417 QBE Insurance Group 70 0.02 6,998 Qube Holdings 17 9,878 Ramelius Resources 19 –
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets%
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
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PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% AUSTRALIA – 1.24% (1.19%) (continued) 1,123 Ramsay Health Care 23 0.01 320 REA Group 26 0.01 2,318 Reece 16 11,687 Region Group 13 1,788 Rio Tinto 149 0.03 2,359 Sandfire Resources 20 19,276 Santos 80 0.02 22,603 Scentre Group 39 0.01 1,866 SEEK 13 1,530 SGH 32 0.01 26,127 Sigma Healthcare 36 0.01 1,400 Sims Metal Management 13 1,749 Sonic Healthcare 19 19,327 South32 43 0.01 3,377 Steadfast Group 7 14,328 Stockland Trust 32 0.01 5,216 Suncorp Group 44 0.01 469 Technology One 6 2,234 Telix Pharmaceuticals 16 20,565 Telstra Corporation 57 0.01 5,820 TPG Telecom 12 16,581 Transurban Group 121 0.03 2,521 Treasury Wine Estates 5 20,844 Vicinity Centres REIT 25 0.01 1,003 Wash H Soul Pattinson 21 0.01 5,578 Wesfarmers 211 0.05 16,909 Westpac Banking 346 0.08 1,064 WiseTech Global 21 0.01 9,365 Woodside Energy Group 170 0.04 6,079 Woolworths 114 0.03 1,834 Worleyparsons 11 Total Australia 5,624 1.24 AUSTRIA – 0.06% (0.05%) 510 Andritz 27 0.01 476 Bawag Group 53 0.01 1,389 Erste Bank 112 0.02 744 OMV 41 0.01 425 Raiffeisen Bank International 13 412 Verbund 24 0.01 Total Austria 270 0.06 BELGIUM – 0.14% (0.13%) 149 Ackermans 34 0.01 752 Ageas (BRU) 41 0.01 4,708 Anheuser-Busch InBev 246 0.05 120 D’Ieteren 17 180 Elia Group 21 0.01 111 Financiere De Tubize 21 0.01 297 Groupe Bruxelles Lambert 20 1,119 KBC Group 102 0.02 2 Lotus Bakeries 17 100 Sofina 18 368 Syensqo 16 565 UCB 128 0.03 991 Warehouses De Pauw 19 Total Belgium 700 0.14 BERMUDA – 0.17% (0.16%) 5,429 Aegon 30 0.01 1,763 Arch Capital Group 128 0.03 5,500 CK Infrastructure Holdings 33 0.01
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
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PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% BERMUDA – 0.17% (0.16%) (continued) 336 Credicorp 86 0.02 180 Everest Re Group 45 0.01 16,830 Hiscox 254 0.06 5,000 Johnson Electric Holdings 11 13,795 Lancashire Holdings 81 0.02 9,371 Oakley Capital Investment 44 0.01 1,500 Orient Overseas International 20 11,000 Yue Yuen Industrial Holdings 16 Total Bermuda 748 0.17 CAYMAN ISLANDS – 0.12% (0.13%) 5,000 AAC Technologies 16 6,000 Budweiser Brewing Company 4 14,200 Chow Tai Fook 15 7,500 CK Asset Holdings 32 0.01 12,500 CK Hutchison Holdings 72 0.02 7,768 Dragon Capital Vietnam Enterprise Investment ‘C’ 57 0.01 246 GlobalFoundries 8 15,000 Nexteer Automotive Group 7 16,530 Nu Holdings 180 0.04 10,000 Sands China 16 5,500 Shenzhou International 25 0.01 6,000 SITC International Holdings 20 0.01 48,629 WH Group 48 0.01 13,000 Wharf Real Estate Investment Company 28 0.01 21,200 Wynn Macau 11 Total Cayman Islands 539 0.12 CHANNEL ISLANDS – 1.44% (1.38%) 32,664 3i Infrastructure 109 0.02 3,699 Aberdeen Asian Income Fund 10 1,918 Amcor 58 0.01 906 Aptiv 48 0.01 14,812 BH Macro 62 0.01 45,921 Bluefield Solar Income Fund 38 0.01 39,348 Chrysalis Investments 32 0.01 23,969 CQS New City High Yield Fund 12 1,770 CVC Capital Partners 17 69,469 Digital 9 Infrastructure 4 46,512 Experian Group 1,208 0.27 3,213 Fidelity Emerging Markets 36 0.01 43,296 Foresight Environmental Infrastructure 29 0.01 3,788 Foresight Group 13 14,958 Foresight Solar Fund 9 8,816 GCP Asset Backed Income Fund 5 54,166 GCP Infrastructure Investments 39 0.01 542,570 Glencore 3,068 0.68 3,952 Harbourvest Global Private Equity 119 0.03 9,436 Henderson Far East Income 23 0.01 11,844 Highbridge Tactical Credit ~ * ^ – 89,135 International Public Partnership 114 0.03 37,730 International Workplace Group 66 0.02 8,222 Invesco Bond Income Plus 14 4,521 JPMorgan Global Core Real Assets 3 8,467 JTC 110 0.02 61,212 Man Group 154 0.03 1,550 NB Private Equity Partners ‘A’ 21 0.01 44,245 Nextenergy Solar Fund 19 3,907 Partners Group Private Equity 30 0.01 6,521 Pershing Square Holdings 255 0.06 40,886 Petrofac + * ^ – 2,852 Phoenix Spree REIT 5 –
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
21
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% CHANNEL ISLANDS – 1.44% (1.38%) (continued) 32,862 Picton Property Income 25 0.01 975 Pollen Street Group 8 475 PPHE Hotel Group 8 19,303 Raven Property ~ * ^+ – 9,724 Real Estate Credit Investments 11 134,204 Renewables Infrastructure 86 0.02 8,885 RTW Biotech Opportunities 13 16,912 Ruffer 52 0.01 18,561 Schiehallion Fund 25 0.01 10,404 Schroder Oriental Income Fund 37 0.01 9,029 Schroder Real Estate Investment Trust 4 88,002 Sequoia Economic Infrastructure Income Fund 67 0.01 78,547 Sirius Real Estate 73 0.02 11,114 Syncona 10 37,636 TP ICAP Group 102 0.02 51,429 TwentyFour Income Fund 56 0.01 6,698 TwentyFour Select Monthly Income Fund 5 5,230 VinaCapital Vietnam Opportunity Fund 24 0.01 4,168 Wizz Air Holdings 35 0.01 54,648 WPP 128 0.03 Total Channels Islands 6,499 1.44 CYPRUS – 0.01% (0.01%) 4,798 Atalaya Mining 34 0.01 Total Cyprus 34 0.01 DENMARK – 0.27% (0.29%) 21 A P Moller – Maersk 39 0.01 20 A P Moller – Maersk A/S 38 0.01 318 Carlsberg ‘B’ 30 0.01 678 Coloplast ‘B’ 35 0.01 2,984 Danske Bank 109 0.02 943 DSV 169 0.04 345 Genmab 69 0.02 3,624 H Lundbeck ‘B’ 17 15,765 Novo Nordisk 428 0.09 1,919 Novozymes 86 0.02 2,151 Ørsted 39 0.01 532 Pandora 28 0.01 310 Rockwool Asia 6 422 Tryg 8 4,857 Vestas Wind System 109 0.02 616 William Demant Holding 14 Total Denmark 1,224 0.27 FINLAND – 0.20% (0.17%) 442 Elisa Communications 16 1,770 Fortum 34 0.01 1,669 Kesko ‘B’ 28 0.01 1,778 Kone ‘B’ 85 0.02 2,784 Metso 36 0.01 1,923 Neste Oyj 47 0.01 24,792 Nokia 147 0.03 16,074 Nordea Bank (EUR) 207 0.04 429 Orion 26 0.01 12,251 Sampo Oyj 98 0.02 2,783 Stora Enso (registered) 24 3,205 UPM-Kymmene 75 0.02 1,108 Valmet Corporation 24 2,763 Wartsila Corporation 76 0.02 Total Finland 923 0.20
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
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PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% FRANCE – 1.56% (1.56%) 224 Abivax 18 738 Accor 26 0.01 176 ADP Promesses 16 2,850 Air Liquide 443 0.10 1,211 Alstom 26 0.01 316 Amundi 20 8,252 AXA 283 0.06 1,227 Ayvens 11 206 BioMérieux 17 4,899 BNP Paribas 347 0.08 1,475 Bollore 6 811 Bouygues 35 0.01 1,901 Bureau Veritas 43 0.01 728 Capgemini 64 0.01 3,757 Carrefour 52 0.01 4,954 Credit Agricole 69 0.02 3,281 Danone 197 0.04 67 Dassault Aviation 19 3,330 Dassault Systemes 50 0.01 1,736 Edenred 26 0.01 455 Eiffage 52 0.01 10,299 Engie 249 0.05 1,426 Essilor International 247 0.06 649 FDJ United 14 269 Gecina 16 1,009 Getlink 16 168 Hermes International 236 0.05 60 Ipsen Promesses 8 372 Kering 83 0.02 730 Klepierre 21 0.01 1,133 L’Oreal 346 0.08 1,247 Legrand Promesses 144 0.03 1,262 LVMH 511 0.11 2,869 Michelin (CGDE) 73 0.02 10,667 Orange 164 0.04 1,068 Pernod-Ricard 60 0.01 1,089 Publicis Groupe 67 0.02 1,149 Renault 29 0.01 1,505 Rexel 44 0.01 1,720 Safran 420 0.09 2,236 Saint Gobain 137 0.03 5,308 Sanofi 383 0.09 157 Sartorius Stedim Biotech 23 0.01 2,776 Schneider Electric 556 0.12 323 Scor Regroupe 9 3,489 Société Générale 188 0.04 487 Sodexo 19 883 Spie 33 0.01 488 Thales 107 0.02 9,423 TotalEnergies 665 0.15 491 Unibail-Rodamco-Westfield 41 0.01 2,747 Veolia Environnement 78 0.02 2,469 Vinci 276 0.06 Total France 7,083 1.56 GERMANY – 1.49% (1.54%) 753 Adidas 90 0.02 1,911 Allianz 597 0.13 370 Aumovio 11 4,640 BASF 212 0.05 4,865 Bayer 167 0.04 608 Bechtle 15 –
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
23
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% GERMANY – 1.49% (1.54%) (continued) 691 Beiersdorf 46 0.01 1,282 BMW 87 0.02 299 BMW preference 20 966 Brenntag 48 0.01 3,324 Commerzbank 89 0.02 740 Continental 38 0.01 325 CTS Eventim 14 3,592 Daimler 164 0.04 2,850 Daimler Truck Holding 103 0.02 1,554 Delivery Hero 21 8,763 Deutsche Bank 192 0.04 952 Deutsche Boerse 208 0.05 17,178 Deutsche Telekom 480 0.11 4,574 DHL Group 178 0.04 10,977 E.On 182 0.04 884 Evonik Industries 13 2,219 Fresenius 85 0.02 1,218 Fresenius Medical Care 41 0.01 577 GEA Group 31 0.01 334 Hannover Rueck 78 0.02 591 HeidelbergCement 92 0.02 305 Henkel 16 805 Henkel preference 47 0.01 367 Hensoldt 24 0.01 60 Hochtief 20 6,904 Infineon Technologies 229 0.05 488 KION Group 19 254 Knorr-Bremse 22 487 Leg Immobilien 24 0.01 2,475 Lufthansa 16 597 Merck KGaA 56 0.01 291 MTU Aero Engines 78 0.02 647 Muenchener Rueckver 304 0.07 448 Nemetschek 25 0.01 50 Rational 27 0.01 374 Renk Group 16 223 Rheinmetall 281 0.06 3,229 RWE 163 0.04 5,086 SAP 652 0.14 3,413 Schaeffler 21 408 Scout24 23 0.01 3,633 Siemens 651 0.14 3,674 Siemens Energy 455 0.10 1,418 Siemens Healthineers 45 0.01 618 Symrise 40 0.01 257 Talanx 24 0.01 138 Volkswagen 11 931 Volkswagen preference 70 0.02 4,078 Vonovia 77 0.02 956 Zalando 17 Total Germany 6,755 1.49 GIBRALTAR – 0.00% (0.00%) 28,822 Evoke 10 Total Gibraltar 10 HONG KONG – 0.28% (0.27%) 52,000 AIA Group 427 0.09 1,700 ASMPT 16 16,500 Bank of China (Hong Kong) 68 0.02 28,000 Champion REIT 6 7,500 CLP Holdings 53 0.01
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
24
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% HONG KONG – 0.28% (0.27%) (continued) 8,000 Galaxy Entertainment Group 27 0.01 14,000 Hang Lung Group 20 4,920 Henderson Land Development 14 44,070 Hong Kong & China Gas 30 0.01 6,300 Hong Kong Exchanges and Clearing 237 0.05 10,000 Hysan Development 18 8,500 Kerry Properties 18 26,000 Lenovo Group 23 0.01 12,500 Link REIT 44 0.01 11,600 Man Wah Holdings 5 28,000 MMG 20 0.01 9,500 MTR Corporation 29 0.01 20,500 New World Development 16 14,000 Sino Land 15 7,000 Sun Hung Kai Properties 87 0.02 3,500 Swire Pacific ‘A’ 29 0.01 10,892 Swire Pacific ‘B’ 14 7,500 Techtronic Industries 74 0.02 Total Hong Kong 1,290 0.28 IRELAND – 11.01% (11.26%) 3,093 Accenture 465 0.10 10,246 AIB Group 80 0.02 405 Allegion 45 0.01 1,038 Aon Ireland 254 0.06 4,740 Bank of Ireland Group 64 0.01 1,088,704 Blackrock Emerging Markets Index Fund ‘A’ 44,799 9.89 3,351 CRH 267 0.06 4,369 DCC 202 0.04 1,937 Eaton Corporation 526 0.12 867 Flutter Entertainment 67 0.01 8,988 Grafton Group 81 0.02 24,643 Greencore Group 60 0.01 2,993 James Hardie Industries 41 0.01 3,262 Johnson Controls 324 0.07 7,376 Kenmare Resources 15 673 Kerry Group ‘A’ 40 0.01 739 Kingspan Group 47 0.01 2,321 Linde 872 0.19 6,337 Medtronic 416 0.09 873 Pentair 58 0.01 1,176 Ryanair Holdings 25 0.01 1,046 Seagate Technology Holdings 310 0.07 2,383 Smurfit Westrock 72 0.02 415 Steris 70 0.02 1,462 TE Connectivity 232 0.05 1,102 Trane Technologies 348 0.08 463 Willis Towers Watson 102 0.02 Total Ireland 49,882 11.01 ISLE OF MAN – 0.05% (0.07%) 29,855 Entain 167 0.04 13,207 Playtech 44 0.01 Total Isle of Man 211 0.05 ISRAEL – 0.04% (0.04%) 448 Check Point Software Technologies 48 0.01 3,260 Plus500 133 0.03 Total Israel 181 0.04 ITALY – 0.54% (0.49%) 13,652 A2A 29 0.01 821 Banca Mediolanum 12 –
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
25
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% ITALY – 0.54% (0.49%) (continued) 10,496 Banca Monte dei Paschi di Siena 68 0.02 8,421 Banco BPM 87 0.02 7,643 BPER Banca 74 0.02 98 Brunello Cucinelli 6 376 Buzzi Unicem 14 38,401 Enel 315 0.07 9,623 ENI 208 0.05 3,253 Finecobank Banco Fineco 54 0.01 4,789 Generali 144 0.03 7,075 Hera 25 0.01 1,447 Infrastrutture Wireless 9 470 Interpump Group 13 75,964 Intesa Sanpaolo 343 0.08 4,613 Italgas 40 0.01 1,990 Leonardo 101 0.02 1,034 Moncler 46 0.01 5,531 Nexi 15 1,930 Poste Italiane 34 0.01 2,100 Prada 7 1,522 Prysmian 131 0.03 764 Recordati 33 0.01 177 Reply 12 8,579 Snam 49 0.01 38,074 Telecom Italia 20 49,342 Telecom Italia Rights +~ – 49,342 Telecom Italia RNC 30 0.01 85,690 Telecom Italia Spa Rights +~ – 6,665 Terna 57 0.01 7,565 Unicredit 402 0.09 1,522 Unipol Gruppo Finanziario 26 0.01 Total Italy 2,404 0.54 JAPAN – 4.44% (4.15%) 1,200 ABC-Mart 14 5,600 Acom 12 16 Advance Residence Investment Corporation 12 3,500 Advantest 339 0.08 12,900 Aeon 116 0.03 1,700 Aeon Financial Service 13 2,200 Air Water 22 0.01 3,300 Aisin Seiki 34 0.01 4,700 Ajinomoto 98 0.02 1,700 Amada 18 1,700 ANA Holdings 23 0.01 1,700 Aozora Bank 20 1,100 Asahi Glass 29 0.01 7,800 Asahi Group Holdings 59 0.01 1,100 Asahi Intecc 17 4,800 Asahi Kasei 35 0.01 3,000 Asics Corporation 59 0.01 9,000 Astellas Pharma 108 0.02 2,400 Azbil Corporation 15 2,700 Bandai Namco Holdings 50 0.01 1,100 BayCurrent Consulting 24 0.01 5,400 Bridgestone 84 0.02 900 Brother Industries 12 1,100 Calbee 16 4,100 Canon 85 0.02 2,400 Capcom 38 0.01 3,300 Casio Computer 22 0.01 4,700 Central Japan Railway 91 0.02 3,400 Chiba Bank 32 0.01
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
26
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% JAPAN – 4.44% (4.15%) (continued) 3,200 Chugai Pharmaceutical 131 0.03 500 Comsys Holdings 12 400 Cosmos Pharmaceutical 13 600 Credit Saison 11 1,600 CyberAgent 10 1,600 Dai Nippon Printing 22 0.01 2,500 Daido Steel 22 0.01 1,900 Daifuku 49 0.01 17,100 Dai-Ichi Mutual Life Insurance 116 0.03 10,200 Daiichi Sankyo 134 0.03 1,400 Daikin Industries 125 0.03 2,000 Daito Trust Construction 35 0.01 2,600 Daiwa House Industry 61 0.01 5,800 Daiwa Securities Group 40 0.01 18 Daiwahouse Residential Investment Corporation 11 8,400 Denso 78 0.02 1,300 Dentsu 17 1,900 Dexerials Corporation 19 1,100 DIC 19 400 Disco Corporation 117 0.03 300 DMG Mori 3 100 Dowa Mining 4 4,500 East Japan Railway 78 0.02 900 Ebara 18 1,900 Eisai 44 0.01 14,500 ENEOS Holdings 97 0.02 1,200 EXEO Group 15 800 Ezaki Glico 22 0.01 4,500 Fanuc Corporation 114 0.03 900 Fast Retailing 264 0.06 500 Fuji Electric 25 0.01 600 Fuji Media Holdings 11 1,100 Fuji Oil 19 5,400 Fujifilm Holdings Corporation 76 0.02 7,800 Fujikura 152 0.03 8,500 Fujitsu 128 0.03 800 Fukuoka Financial Group 22 0.01 300 Furukawa Electric 41 0.01 17 GLP J-Reit 10 500 GMO Payment Gateway 20 3,200 Gunma Bank 31 0.01 1,400 Hachijuni Bank 13 3,600 Hakuhodo DY Holdings 18 1,200 Hamamatsu Photonics 10 1,700 Hankyu 37 0.01 600 Haseko 8 100 Hikari Tsushin 19 120 Hirose Electric 12 21,800 Hitachi 464 0.10 300 Hitachi Construction Machinery 8 17,500 Honda Motor 105 0.02 200 Horiba 17 400 Hoshizaki Electric 10 1,100 House Foods 16 1,700 Hoya 215 0.05 1,800 Hulic 16 1,099 Ibiden 39 0.01 5,800 Idemitsu Kosan 43 0.01 4,500 IHI Corporation 67 0.02 11 Industrial & Infrastructure Fund Investment Corporation 7 4,400 Inpex 98 0.02
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
27
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% JAPAN – 4.44% (4.15%) (continued) 17 Invincible Investment 5 1,600 Isetan Mitsukoshi Holdings 22 0.01 3,600 Isuzu Motors 38 0.01 1,400 IT Holdings 22 0.01 900 Ito En 13 31,500 Itochu 296 0.07 400 Itoham Yonekyu Holdings 11 800 Iwatani 8 2,200 Iyogin Holdings 30 0.01 400 J Front Retailing 5 1,700 Japan Airlines 21 0.01 700 Japan Airport Terminal 17 4,600 Japan Exchange Group 40 0.01 35 Japan Metropolitan Fund Investment Corporation 19 10,000 Japan Post Bank 120 0.03 8,400 Japan Post Holdings 72 0.02 3,300 Japan Post Insurance 25 0.01 24 Japan Prime Realty Investment Corporation 11 30 Japan Real Estate Investment Trust 17 100 Japan Steel Works 4 4,000 JFE Holdings 35 0.01 3,200 JX Advanced Metals Corporation 51 0.01 2,300 K‘s Holdings 18 1,600 Kadokawa Dwango Corp 29 0.01 1,100 Kagome 15 2,100 Kajima 59 0.01 900 Kandenko 25 0.01 600 Kansai Paint 7 2,700 Kao 79 0.02 4,500 Kawasaki Heavy Industries 62 0.01 3,000 Kawasaki Kisen Kaisha 38 0.01 13,700 KDDI 178 0.04 1,500 Keio 6 3,000 Keisei Electric Railway 17 10 Kenedix Realty Investment 8 700 Keyence 183 0.04 2,300 Kikkoman 16 300 Kinden 10 1,100 Kintetsu 17 900 Kioxia Holdings 82 0.02 4,900 Kirin Holdings 59 0.01 1,100 Kobe Bussan 18 500 Koito Manufacturing 6 1,100 Kokusai Electric Corporation 26 0.01 3,200 Kokuyo 13 4,900 Komatsu 140 0.03 400 Konami 37 0.01 6,800 Konica Minolta 17 600 Kraftia Corporation 27 0.01 4,300 Kubota 50 0.01 900 Kuraray 7 400 Kurita Water Industries 14 600 Kusuri No Aoki Holdings ‘C’ 11 6,100 Kyocera 69 0.02 600 Kyoto Financial Group 12 1,100 Kyowa Kirin 14 3,700 Kyushu Electric Power 32 0.01 1,000 Kyushu Financial Group 5 300 Kyushu Railway 5 300 Lasertec 48 0.01 800 Lixil Group 6 –
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
28
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% JAPAN – 4.44% (4.15%) (continued) 1,200 Makita 29 0.01 7,300 Marubeni 195 0.04 1,800 Marui 26 0.01 100 Maruwa 25 0.01 1,400 MatsukiyoCocokara 17 2,300 Mazda Motor 11 200 McDonalds 8 5,300 Mebuki Financial Group 30 0.01 1,400 Meiji Holdings 26 0.01 1,300 Mercari 23 0.01 11,200 Metaplanet 16 2,800 Minebea 34 0.01 1,400 Misumi 18 9,300 Mitsubishi Chemical Group Corporation 40 0.01 16,200 Mitsubishi Corporation 411 0.09 9,800 Mitsubishi Electric 233 0.05 5,400 Mitsubishi Estate 111 0.03 800 Mitsubishi Gas Chemical 14 4,700 Mitsubishi HC Capital 31 0.01 15,900 Mitsubishi Heavy Industries 320 0.07 9,500 Mitsubishi Motors 14 54,400 Mitsubishi UFJ Financial Group 674 0.15 12,500 Mitsui & Company 355 0.08 3,400 Mitsui Chemicals 30 0.01 700 Mitsui Engineering & Shipbuilding 19 12,200 Mitsui Fudosan 96 0.02 200 Mitsui Mining & Smelting 27 0.01 1,500 Mitsui O.S.K. Lines 46 0.01 12,100 Mizuho Financial Group 351 0.08 300 Modec 21 0.01 2,300 Monotaro 19 600 Morinaga Milk Industry 14 6,000 MS&AD Insurance Group 115 0.03 8,100 Murata Manufacturing 132 0.03 6,000 NEC 110 0.02 2,800 Nexon 39 0.01 1,400 NGK Insulators 27 0.01 600 NGK Spark Plug 21 0.01 700 NH Foods 23 0.01 600 Nichirei 6 5,300 Nidec 50 0.01 2,200 Nihon Kohden 15 5,400 Nintendo 226 0.06 50 Nippon Building Fund REIT 32 0.01 600 Nippon Express Holdings 10 2,500 Nippon Kayaku 21 0.01 6,600 Nippon Paint Holdings 31 0.01 1,000 Nippon Sanso Holdings Corporation 26 0.01 800 Nippon Shinyaku 19 2,000 Nippon Shokubai 22 0.01 30,000 Nippon Steel Corporation 82 0.02 130,800 Nippon Telegraph & Telephone 98 0.02 2,100 Nippon Yusen 58 0.01 1,700 Nipro 13 800 Nissan Chemical Industries 23 0.01 14,200 Nissan Motor 23 0.01 1,200 Nisshin Seifun 12 1,300 Nissin Food Products 19 2,500 Nitori Holdings 30 0.01 3,800 Nitto Denko 55 0.01 16,800 Nomura Holding 96 0.02
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
29
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% JAPAN – 4.44% (4.15%) (continued) 2,500 Nomura Real Estate Holdings 12 23 Nomura Real Estate Master Fund 17 2,000 Nomura Research Institute 41 0.01 2,800 Obayashi 50 0.01 1,400 OBIC 26 0.01 200 OBIC Business Consultants 6 1,100 Odakyu Electric Railway 9 4,200 Oji Holdings Corporation 17 5,700 Olympus Optical 40 0.01 1,500 Omron 32 0.01 2,700 Ono Pharmaceutical 32 0.01 600 Open House 29 0.01 300 Oracle Japan 12 6,200 Oriental Land 80 0.02 5,700 Orix 125 0.03 34 Orix J-REIT 16 1,700 Osaka Gas 52 0.01 1,100 Otsuka 16 2,000 Otsuka Holdings 105 0.02 500 Paltac 11 10,500 Pan Pacific International Holdings 48 0.01 12,200 Panasonic 150 0.03 1,500 Park24 13 5,000 Persol Holdings 6 1,100 Pola Orbis Holdings 7 700 Rakuten Bank 19 6,200 Rakuten Group 21 0.01 6,600 Recruit Holdings 205 0.05 1,500 Relo Holdings 14 8,000 Renesas Electronics 82 0.02 10,600 Resona 87 0.02 2,000 Resort Trust 17 2,800 Ricoh 18 2,000 Rohm 29 0.01 700 Rohto Pharmaceutical 8 2,200 Ryohin Keikaku 35 0.01 4,000 Sanrio 19 1,500 Santen Pharmaceutical 13 800 Sanwa Holdings 13 1,000 Sapporo Breweries 8 1,500 Sawai Group Holdings 16 2,600 SBI Holdings 35 0.01 800 Screen Holdings 34 0.01 1,900 Secom 55 0.01 1,100 Seibu Holdings 23 0.01 1,900 Seiko Epson 17 1,500 Sekisui Chemical 19 2,800 Sekisui House 47 0.01 38 Sekisui House REIT 16 11,800 Seven & I Holdings 119 0.03 9,800 Seven Bank 13 2,200 SG Holdings 15 2,100 Sharp 6 800 Shimadzu 14 1,500 Shimamura 24 0.01 500 Shimano 39 0.01 2,500 Shimizu 33 0.01 1,000 Shin Nittetsu Sumikin Solutions Corporation 17 9,200 Shin-Etsu Chemical 274 0.06 3,700 Shionogi 61 0.01 2,500 Shiseido 38 0.01
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
30
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% JAPAN – 4.44% (4.15%) (continued) 1,600 Shizuoka Financial Group 20 1,200 Sho-Bond Holdings 8 700 Showa Denko 33 0.01 1,500 Sky Perfect JSAT 21 0.01 1,800 Skylark 29 0.01 300 SMC 86 0.02 1,700 Socionext 15 19,400 Softbank 329 0.07 140,200 SoftBank Group 141 0.03 700 Sojitz Holdings 20 4,200 Sompo Japan Nipponkoa Holdings 120 0.03 700 So-Net M3 5 25,200 Sony 385 0.09 36,400 Sony Financial Holding 25 0.01 1,100 Sotetsu Holdings 15 2,100 Square Enix 25 0.02 2,100 Subaru Corporation 25 0.02 3,500 Sumco 28 0.01 7,400 Sumitomo Chemical 18 5,100 Sumitomo Corporation 141 0.03 2,500 Sumitomo Dainippon Pharma 25 0.01 4,100 Sumitomo Electric Industries 164 0.04 2,400 Sumitomo Forestry 16 500 Sumitomo Heavy Industries 11 1,200 Sumitomo Metal Mining 51 0.01 18,300 Sumitomo Mitsui Financial 437 0.10 3,500 Sumitomo Mitsui Trust Holdings 82 0.02 3,000 Sumitomo Realty & Development 63 0.01 1,000 Sundrug 19 700 Suntory Beverage & Food 15 400 Sushiro Global Holdings 18 7,700 Suzuki Motor 69 0.02 3,400 Sysmex Corporation 22 0.01 1,800 T&D Holdings 34 0.01 600 Taisei 46 0.01 1,100 Taiyo Yuden 19 2,600 Takara Holdings 19 2,400 Takashimaya 21 0.01 7,776 Takeda Pharmaceutical 210 0.05 500 Tbs Holdings 13 10,000 TDK 94 0.02 2,700 Teijin 21 0.01 8,200 Terumo 82 0.02 1,100 Tobu Railway 15 2,000 Toho 16 3,200 Toho Gas 19 9,100 Tokio Marine Holdings 317 0.07 2,200 Tokyo Electron 390 0.09 1,700 Tokyo Gas 60 0.01 2,900 Tokyo Metro 22 0.01 300 Tokyo Ohka Kogyo 11 300 Tokyo Seimitsu 19 1,000 Tokyo Tatemono 17 3,500 Tokyu 31 0.02 3,400 Tokyu Fudosan Holdings 21 0.01 1,800 Toppan Printing 35 0.01 5,800 Toray Industries 30 0.01 2,800 Tosoh 31 0.01 400 Toto 10 500 Toyo Suisan Kaisha 26 0.01 1,100 Toyoda Gosei 21 0.01
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
31
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% JAPAN – 4.44% (4.15%) (continued) 800 Toyota Boshoku 9 1,100 Toyota Industries Corporation 107 0.02 52,600 Toyota Motor 793 0.18 3,300 Toyota Tsusho 94 0.02 800 Trend Micro 20 1,000 Tsumura & Co 18 1,342 Tsuruha Holdings 16 1,500 Ube Industries 17 200 Ulvac 8 6,600 Unicharm Corporation 29 0.01 24 United Urban Investment 19 900 USS 7 3,000 West Japan Railway 45 0.01 1,800 Yakult Honsha 23 0.01 3,600 Yamaha 19 4,500 Yamaha Motor 24 0.01 1,600 Yamato Holdings 13 500 Yamazaki Baking 8 1,000 Yaskawa Electric 19 1,500 Yokogawa Electric 34 0.01 4,000 Yokohama Finance 26 0.01 1,100 Yokohama Rubber 31 0.01 16,800 Z Holdings Corporation 31 0.01 1,400 Zenkoku Hosho 21 500 Zensho Holdings 22 0.01 2,200 Zeon Corporation 18 900 ZOZO 5 Total Japan 20,082 4.44 LIBERIA – 0.06% (0.07%) 1,252 Royal Caribbean Group 261 0.06 Total Liberia 261 0.06 LUXEMBOURG – 0.12% (0.15%) 3,145 Allegro.eu 17 2,153 ArcelorMittal 82 0.02 50,658 B&M European Value Retail 85 0.02 513 Eurofins Scientific 28 0.01 831 InPost 11 9,600 Samsonite International 14 760 Spotify Technology 279 0.06 1,378 Tenaris 31 0.01 Total Luxembourg 547 0.12 NETHERLANDS – 1.19% (1.19%) 3,331 ABN AMRO Group GDR 79 0.02 131 Adyen 97 0.02 2,891 Airbus Group 406 0.09 694 AkzoNobel 30 0.01 299 Argen 162 0.04 229 ASM International 127 0.03 1,863 ASML Holding 1,820 0.40 991 ASR Nederland 51 0.01 92,584 Aviva Warrants 29/07/2026 (Merrill) # 559 0.12 371 BE Semiconductor Industries 58 0.01 840 CSG 17 2,956 Davide Campari-Milano 16 551 Euronext 66 0.02 330 Exor 19 590 Ferrari New 149 0.03 2,521 Ferrovial International 122 0.03 1,514 Heineken 88 0.02
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
32
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% NETHERLANDS – 1.19% (1.19%) (continued) 793 Heineken Holdings 43 0.01 214 IMCD Group 17 14,714 ING Groep 284 0.06 545 JDE Peet s 15 4,261 Koninklijke Ahold 150 0.03 3,634 Koninklijke Philips 74 0.02 18,156 KPN 76 0.02 1,203 Lyondell Basell Industries 74 0.02 1,995 Magnum Ice Cream 22 0.01 1,100 NN Group 64 0.01 1,247 NXP Semiconductors 186 0.04 6,062 Prosus 206 0.06 930 Qiagen 28 0.01 854 Randstad Holding 17 501 RHI Magnesita 12 12,173 Stellantis 64 0.01 3,136 STMicroelectronics 78 0.02 4,198 Universal Music Group 61 0.01 1,145 Wolters Kluwer certificates 65 0.01 Total Netherlands 5,402 1.19 NEW ZEALAND – 0.05% (0.06%) 4,126 A2 Milk 20 0.01 7,947 Auckland International Airport 27 0.01 3,435 Contact Energy 14 960 EBOS Group 9 2,405 Fisher & Paykel Healthcare 38 0.01 10,358 Fletcher Building 13 3,409 Infratil 17 421 Mainfreight 10 11,382 Meridian Energy 27 0.01 11,024 Ryman Healthcare 10 11,916 Spark New Zealand 11 889 Xero 35 0.01 Total New Zealand 231 0.05 NORWAY – 0.13% (0.10%) 138 Aker ‘A’ 12 1,312 Aker BP 37 0.01 4,412 DNB Bank ASA 103 0.02 3,464 Equinor 113 0.02 1,600 Gjensidige Forsikring 31 0.01 2,210 Kongsberg Gruppen ASA 71 0.02 2,297 Marine Harvest 39 0.01 4,480 Norsk Hydro 36 0.01 2,464 Orkla 23 0.01 497 Salmar 22 2,957 Telenor 39 0.01 255 Vend Marketplaces 5 697 Yara International 31 0.01 Total Norway 562 0.13 PANAMA – 0.03% (0.03%) 5,852 Carnival 115 0.03 Total Panama 115 0.03 POLAND – 0.08% (0.06%) 3,660 Dino Polska 25 623 KGHM Polska Miedź 34 0.01 10 LPP 45 0.01 2,613 Orlen 71 0.02 827 Pekao 37 0.01 4,079 PKO Bank Polski 72 0.02
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avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
33
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% POLAND – 0.08% (0.06%) (continued) 1,897 PZU Group 25 344 Santander Bank Polska 41 0.01 Total Poland 350 0.08 PORTUGAL – 0.03% (0.03%) 61,008 Banco Comercial Portugues 44 0.01 14,307 Energias de Portugal 57 0.01 1,431 Galp Energia 26 1,738 Jeronimo Martins 31 0.01 Total Portugal 158 0.03 SINGAPORE – 0.32% (0.25%) 25,444 Ascendas Real Estate Investment Trust 37 0.01 929 Ascott Residence REIT + – 3,100 BOC Aviation 23 0.01 712 CapitaLand Ascendas Rights + – 30,805 CapitaLand Integrated Commercial Trust REIT 41 0.01 16,300 CapitaLand Investment 26 0.01 500 City Developments 2 9,930 DBS Group 332 0.07 1,941 Flex 96 0.02 21,400 Frasers Logistics & Commercial Trust 11 71,600 Hutchison Port 11 6,700 Keppel Corporation 46 0.01 4,305 Keppel REIT 2 22,700 Mapletree Industrial Trust 26 0.01 37,935 Mapletree Logistics REIT 26 0.01 17,992 Oversea-Chinese Banking Corporation 232 0.05 5,953 SATS 12 5,441 Seatrium 8 8,100 Sembcorp Industries 32 0.01 3,900 SIA Engineering 7 6,000 Singapore Airlines 23 0.01 4,999 Singapore Exchange 57 0.01 6,400 Singapore Technologies Engineering 41 0.01 34,000 Singapore Telecommunications 99 0.02 7,600 Starhub 5 6,700 United Overseas Bank 144 0.03 1,200 UOL Group 7 2,700 Venture Corporation 24 0.01 12,000 Wilmar International 27 0.01 1,628 XP Power 20 Total Singapore 1,417 0.32 SPAIN – 0.77% (0.72%) 108 Acciona 21 0.01 953 Actividades de Construccion y Servicios 87 0.02 3,540 Aena SME 79 0.02 2,294 Amadeus IT Group ‘A’ 98 0.02 30,022 Banco de Sabadell 80 0.02 73,367 Banco Santander 608 0.13 2,610 Bankinter 31 0.01 28,035 BBV Argentaria 447 0.10 17,764 CaixaBank 158 0.04 2,684 Cellnex Telecom 65 0.01 2,712 EDP Renovaveis 32 0.01 1,469 Endesa 46 0.01 1,394 Grifols ‘A’ 11 1,590 Grifols ‘B’ 9 33,444 Iberdrola 577 0.13 403 Indra Sistemas 17 5,472 Industria de Diseno Textil 235 0.05
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Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026 | avivainvestors.com
AI 30:70 Global Equity (Currency Hedged) Index Fund
34
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% SPAIN – 0.77% (0.72%) (continued) 171,538 International Consolidated Airlines Group 600 0.13 6,297 Mapfre 21 2,629 Merlin Properties REIT 32 0.01 1,781 Naturgy Energy Group 40 0.01 2,748 Red Electrica de Espana 35 0.01 4,546 Repsol 98 0.02 18,795 Telefonica 62 0.01 Total Spain 3,489 0.77 SWEDEN – 0.57% (0.52%) 1,274 AAK 25 0.01 1,488 AddTech 38 0.01 1,256 Alfa Laval 51 0.01 4,629 Assa Abloy ‘B’ 124 0.03 13,411 Atlas Copco 174 0.04 7,114 Atlas Copco ‘B’ 82 0.02 2,407 Beijer Ref ‘B’ 25 0.01 537 Biovitrum 17 1,315 Boliden 51 0.01 2,898 Castellum 25 0.01 3,231 Epiroc A 59 0.01 2,204 Epiroc B 35 0.01 2,242 EQT 51 0.01 13,497 Ericsson ‘B’ 114 0.03 3,408 Essity Aktiebolag ‘B’ 66 0.01 534 Evolution Gaming Group 25 0.01 3,730 Fastighets AB Balder 16 1,355 Getinge ‘B’ 20 1,998 Hennes & Mauritz ‘B’ 28 0.01 9,622 Hexagon 69 0.02 599 Holmen 16 288 Industivarden ‘A’ 11 926 Industivarden ‘C’ 34 0.01 1,986 Indutrade 34 0.01 2,401 Investor A 67 0.02 8,703 Investor B 245 0.05 603 Latour Investment ‘B’ 10 714 Lifco 16 428 Lundbergs ‘B’ 18 9,478 Nibe Industrier 29 0.01 1,776 Saab 87 0.02 1,987 Sagax ‘B’ 27 0.01 5,198 Sandvik 147 0.03 1,640 Securitas ‘B’ 21 7,100 Skandinaviska Enskilda Banken ‘A’ 97 0.02 1,638 Skanska ‘B’ 33 0.01 1,980 SKF ‘B’ 35 0.01 2,133 SSAB ‘B’ 12 2,360 Svenska Cellulosa ‘B’ 20 7,882 Svenska Handelsbanken 77 0.02 13 Svenska Handelsbanken ‘B’ + – 2,044 Sweco ‘B’ 22 4,000 Swedbank ‘A’ 102 0.02 3,274 Tele2 ‘B’ 51 0.01 11,984 Telia 46 0.01 755 Trelleborg ‘B’ 21 1,457 Volvo ‘AB-A’ 35 0.01 7,744 Volvo ‘AB-B’ 188 0.04 1,164 Volvo Car ‘AB’ 2 Total Sweden 2,598 0.57
Page 37
avivainvestors.com | Aviva Investors Passive Funds ACS Interim Report and Financial Statements for the six months ended 31 March 2026
AI 30:70 Global Equity (Currency Hedged) Index Fund
35
PORTFOLIO STATEMENT (CONTINUED) As at 31 March 2026 (unaudited)
Holding or Nominal value Market value £000
Total net assets% SWITZERLAND – 1.84% (1.69%) 7,776 ABB (registered) 464 0.10 2,530 Alcon 141 0.03 2,537 Amrize 104 0.02 65 Banque Cantonale Vaudoise 8 12 Barry Callebaut 16 50 Belimo Holding 30 0.01 173 BKW Energy 26 0.01 6 Chocoladefabriken Lindt & Sprüngli Participating Certificates 64 0.01 1,806 Chubb 446 0.10 2,618 Cie Financiere Richemont ‘A’ 342 0.07 10,138 Coca-Cola HBC 431 0.10 1,021 DSM-Firmenich 55 0.01 285 Dufry Group 13 33 Ems-Chemie 19 117 Flughafen Zuerich 27 0.01 951 Galderma Group 138 0.03 763 Garmin 134 0.03 191 Geberit 96 0.02 610 Georg Fischer 23 0.01 37 Givaudan 94 0.02 439
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"id": "1eca0042-1a3d-4ffc-8bf8-98bf0d3379b9",
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"text": "(\u201cAIF\u201d) Regulations."
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"id": "e4965b5b-ece2-4efa-9183-a091b81436dc",
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"text": "The property of the Scheme is entrusted to HSBC Bank Plc as"
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"text": "depositary (\u201cthe Depositary\u201d)."
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"id": "131ea37e-e32c-4273-be8a-9f605a568f0f",
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"text": "The object of the Scheme is to invest the Scheme Property"
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"text": "through its Sub-funds, and the objective of each Sub-fund is for"
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"id": "b83e2ee6-5101-44ac-ad83-3b2f965e1601",
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"text": "the ACS Manager on behalf of the Unitholders, as co-owners"
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"id": "6072ce83-f85b-4e2f-b830-4de2fb2e42a1",
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"text": "of the relevant Sub-fund\u2019s property, to invest that property in"
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"text": "transferable securities, money market instruments, derivatives"
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"text": "and forward transactions, deposits, cash, near cash, units in"
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"text": "collective investment schemes and immovable property, in"
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"text": "accordance with the regulations applicable to the Scheme and"
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"id": "fcc9d3d4-f606-4610-9e5b-400650b4b155",
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"text": "each Sub-fund, with the aim of spreading investment risk and"
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"text": "giving the Unitholders the results of the management of that"
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"text": "property."
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"text": "Each Sub-fund has a different investment objective, and in the"
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"id": "bc10d205-efc6-4f4d-b6a1-b12dae33475f",
"page_number": 5,
"text": "financial statements you will find an investment review for each"
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"text": "Sub-fund which includes details of the investment objectives. As"
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"id": "cdb6c9b8-a2be-4804-8f54-2d51278938e6",
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"text": "at 31 March 2026 there were 23 active Sub-funds in the Aviva"
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"text": "Investors Passive Funds ACS."
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"text": "AUTHORISED STATUS"
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"text": "The Financial Conduct Authority authorised the Aviva Investors"
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"id": "858c8e1b-a337-4c47-a57d-e5598d48fa37",
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"text": "Passive Funds ACS (\u201cthe Scheme\u201d) as a Non-UCITS Retail Scheme"
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"text": "(NURS) on 14 February 2017."
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"text": "THE FINANCIAL STATEMENTS"
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"text": "We are pleased to present the interim financial statements of the"
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"id": "f682a3c6-31a4-4023-8bef-ae38ce294ccf",
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"text": "Scheme for the six months ended 31 March 2026. As required by"
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"id": "3b11a913-743d-4185-afdd-f7320ade7e30",
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"text": "the Regulations, information for each of the Sub-funds has also"
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"text": "been included in these financial statements. On the following"
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"id": "2b2f5c5e-0105-42d7-a6da-ee8cf05a9b5b",
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"text": "pages we review...