{"annotation_id":"17b768eb-2e8d-4f0f-8a6f-9dc5b50e5bfb","file_hash":"03cf190f9578b15510946ccc17bd4eac2ce479aada65482da38d7d7e06656fd1","schema_id":"open/document-extraction","schema_version":"0.5.0","record":{"extraction_type":"boxes","producer":"pdf-extractor-v0.5.0","blocks":[{"id":"e732de12-f8a3-45ed-88e7-a0b2e82b79a7","block_type":"box","text":"Royal London","page_number":1,"box":{"x":283,"y":188,"width":434,"height":40}},{"id":"382be7fa-f096-49fb-99f5-51c02e432acf","block_type":"box","text":"Multi-Asset Funds ICVC","page_number":1,"box":{"x":119,"y":233,"width":763,"height":31}},{"id":"d3c94722-0909-4e45-9594-1dd3f7205ca1","block_type":"box","text":"Interim Report","page_number":1,"box":{"x":290,"y":302,"width":422,"height":35}},{"id":"c589426f-bb5c-4b2f-85b2-a3577ae0df6f","block_type":"box","text":"For the six month period ended 30","page_number":1,"box":{"x":163,"y":348,"width":403,"height":18}},{"id":"0e5dab55-d5bc-4423-9594-04daa2733227","block_type":"box","text":"June 2026 (unaudited)","page_number":1,"box":{"x":575,"y":348,"width":262,"height":18}},{"id":"8fa9efbf-a421-4723-96f7-b67b52b9de08","block_type":"box","text":"Contents","page_number":2,"box":{"x":58,"y":94,"width":106,"height":11}},{"id":"ebfa3ee4-f0b1-4795-b31d-04d0d825b1e7","block_type":"box","text":"Company Information*","page_number":2,"box":{"x":57,"y":153,"width":147,"height":10}},{"id":"3742ac29-f4d0-45e9-8641-9fc948f1ce9d","block_type":"box","text":"3","page_number":2,"box":{"x":470,"y":153,"width":7,"height":8}},{"id":"081d16e9-95fd-40fa-98d6-88236fa9a828","block_type":"box","text":"Directors’ Report*","page_number":2,"box":{"x":58,"y":177,"width":116,"height":10}},{"id":"56c10870-159e-437b-b17c-67d4ebf9abd6","block_type":"box","text":"4","page_number":2,"box":{"x":470,"y":177,"width":7,"height":8}},{"id":"1d2dba18-7f76-4b56-98f6-3bd3861d6d53","block_type":"box","text":"Summary of Significant Accounting Policies","page_number":2,"box":{"x":57,"y":201,"width":287,"height":10}},{"id":"da5ddb5f-32c9-4b80-a804-71944bb620cb","block_type":"box","text":"5","page_number":2,"box":{"x":470,"y":201,"width":7,"height":8}},{"id":"daaa1726-1e5e-4e2a-bf4d-d6e1e93f1fa3","block_type":"box","text":"Funds","page_number":2,"box":{"x":58,"y":225,"width":39,"height":8}},{"id":"3251d735-fe0c-41bb-917f-3ca4d6d0c1d0","block_type":"box","text":"Royal London GMAP Diversified Bond Fund","page_number":2,"box":{"x":73,"y":244,"width":290,"height":10}},{"id":"895d4b0a-1556-4e43-bb82-d483dc338121","block_type":"box","text":"9","page_number":2,"box":{"x":470,"y":244,"width":7,"height":7}},{"id":"b9857dba-36aa-4f29-9aba-25dc22e4d2af","block_type":"box","text":"Royal London GMAP Defensive Fund","page_number":2,"box":{"x":73,"y":262,"width":246,"height":10}},{"id":"d449d1c5-a625-4e8e-8a53-55456f5db282","block_type":"box","text":"17","page_number":2,"box":{"x":464,"y":262,"width":13,"height":8}},{"id":"df5669fc-c2a2-48ca-bea9-5947029f96e0","block_type":"box","text":"Royal London GMAP Balanced Fund","page_number":2,"box":{"x":73,"y":281,"width":243,"height":10}},{"id":"5c948983-e71f-4c7b-8ab7-366531befd66","block_type":"box","text":"25","page_number":2,"box":{"x":462,"y":281,"width":15,"height":8}},{"id":"770587d2-fad3-4997-8f07-b111ce9f2030","block_type":"box","text":"Royal London GMAP Growth Fund","page_number":2,"box":{"x":73,"y":300,"width":229,"height":10}},{"id":"583d7a80-ac66-45d3-965b-19205d37eef5","block_type":"box","text":"34","page_number":2,"box":{"x":462,"y":300,"width":15,"height":8}},{"id":"84cb10cd-6401-4f71-876f-58606fa92718","block_type":"box","text":"Royal London GMAP Adventurous Fund","page_number":2,"box":{"x":73,"y":319,"width":264,"height":10}},{"id":"2edb2768-cd3f-41c5-8bcc-5db6946b07b6","block_type":"box","text":"43","page_number":2,"box":{"x":461,"y":319,"width":16,"height":8}},{"id":"b9b3466d-e521-41fa-8050-70312fc7c28b","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund","page_number":2,"box":{"x":73,"y":338,"width":284,"height":10}},{"id":"0954711d-813b-4f2e-851a-7555911796b6","block_type":"box","text":"52","page_number":2,"box":{"x":462,"y":338,"width":15,"height":8}},{"id":"336e588c-3681-4a81-88c2-d9a10e660c09","block_type":"box","text":"Royal London Multi Asset Strategies Fund","page_number":2,"box":{"x":73,"y":356,"width":276,"height":10}},{"id":"e04ef5c0-48b3-438c-9fac-f14b2177b20f","block_type":"box","text":"60","page_number":2,"box":{"x":462,"y":357,"width":15,"height":7}},{"id":"947671dc-8efe-461b-ae08-b8a78a41ff98","block_type":"box","text":"Royal London GMAP Moderate Growth Fund","page_number":2,"box":{"x":73,"y":375,"width":296,"height":10}},{"id":"833eb6c7-4ca3-44ad-99b0-6ea6adc183c6","block_type":"box","text":"68","page_number":2,"box":{"x":462,"y":375,"width":15,"height":8}},{"id":"3f8631f9-4168-4be2-b7f5-15c56f21018b","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund","page_number":2,"box":{"x":73,"y":394,"width":303,"height":10}},{"id":"abf9dc7b-68ef-4d30-a14e-a4bce204ae01","block_type":"box","text":"76","page_number":2,"box":{"x":462,"y":394,"width":15,"height":8}},{"id":"7cf0d51c-e063-4f69-b9d6-3e9aff07af65","block_type":"box","text":"Fact File","page_number":2,"box":{"x":58,"y":418,"width":55,"height":8}},{"id":"8f2812ab-c0b6-4095-a109-6305d9838808","block_type":"box","text":"Constitution","page_number":2,"box":{"x":73,"y":437,"width":77,"height":8}},{"id":"e22b75ed-5fdf-48ab-8c88-4f289c656b83","block_type":"box","text":"84","page_number":2,"box":{"x":462,"y":437,"width":15,"height":8}},{"id":"12dca85f-8f96-434b-b38f-5f7b63c8a299","block_type":"box","text":"Investment Objectives and Policies*","page_number":2,"box":{"x":74,"y":456,"width":234,"height":10}},{"id":"d1ce751c-c2d1-403d-8b00-2cb0a9d1cd54","block_type":"box","text":"89","page_number":2,"box":{"x":462,"y":456,"width":15,"height":7}},{"id":"8f194eb2-c19f-41d7-ab47-237811d5e2e2","block_type":"box","text":"General Information","page_number":2,"box":{"x":57,"y":479,"width":131,"height":8}},{"id":"239aabc9-8ab4-4e7d-8ec5-856a8b0299eb","block_type":"box","text":"94","page_number":2,"box":{"x":462,"y":479,"width":15,"height":8}},{"id":"da0ba54e-d1e8-482e-94c1-01b36b9e883f","block_type":"box","text":"*","page_number":2,"box":{"x":57,"y":509,"width":4,"height":3}},{"id":"2fc6ab95-d096-402a-a0b1-87ae17557014","block_type":"box","text":"The Authorised Corporate Director’s report comprises these items, together","page_number":2,"box":{"x":65,"y":509,"width":413,"height":8}},{"id":"a3fcc9c6-842f-4768-849e-eeb462abc09a","block_type":"box","text":"with the following for each individual sub-fund: Manager’s Investment Report;","page_number":2,"box":{"x":65,"y":520,"width":412,"height":8}},{"id":"c4e06e35-93da-4723-a6b8-184723b6d792","block_type":"box","text":"Investment Objective and Policy and Portfolio Statement.","page_number":2,"box":{"x":66,"y":531,"width":302,"height":7}},{"id":"7b323529-eb41-4598-8787-1584bf35368a","block_type":"box","text":"The Director is referred to as the AIFM and ACD interchangeably.","page_number":2,"box":{"x":57,"y":545,"width":347,"height":7}},{"id":"b6bc29c6-b9b9-4dd8-afa3-1b57b2a8116f","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":2,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"f32feca8-8ba1-48bd-8530-464754cc4191","block_type":"box","text":"2","page_number":2,"box":{"x":936,"y":33,"width":6,"height":6}},{"id":"767a946a-c5d5-4eb6-afa8-e69d4285914e","block_type":"box","text":"Company Information","page_number":3,"box":{"x":58,"y":94,"width":254,"height":14}},{"id":"454f2d9d-3832-4e68-8fae-745046d178da","block_type":"box","text":"Company","page_number":3,"box":{"x":57,"y":151,"width":86,"height":11}},{"id":"80a0b882-c2bd-4171-a864-f2a16aa90c2e","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":3,"box":{"x":58,"y":169,"width":278,"height":10}},{"id":"992bde1c-a9ac-46c5-93cc-c91d8c09e9b9","block_type":"box","text":"Registered in England with Company Number IC001058","page_number":3,"box":{"x":58,"y":187,"width":378,"height":10}},{"id":"c6445fc9-4428-44c1-9d5b-306cdb655c33","block_type":"box","text":"Registered office:","page_number":3,"box":{"x":57,"y":208,"width":119,"height":10}},{"id":"e43e8f68-baa1-40f7-94b1-56cb03d2aacb","block_type":"box","text":"80 Fenchurch Street, London EC3M 4BY","page_number":3,"box":{"x":57,"y":222,"width":277,"height":10}},{"id":"752e3216-1ff4-4288-b7a2-a53fa6abcf48","block_type":"box","text":"Director","page_number":3,"box":{"x":58,"y":249,"width":75,"height":9}},{"id":"441957e9-1278-4a43-8c06-0feaedbb6c83","block_type":"box","text":"The Authorised Corporate Director (ACD) is Royal London","page_number":3,"box":{"x":57,"y":268,"width":420,"height":10}},{"id":"6bbeba18-4568-4b82-a668-39d1a04b2181","block_type":"box","text":"Unit Trust Managers Limited which is the sole director.","page_number":3,"box":{"x":58,"y":282,"width":419,"height":10}},{"id":"bf27f360-2c25-48a5-b0df-7ee85d24d1ce","block_type":"box","text":"The ACD also acts as the Alternative Investment Fund","page_number":3,"box":{"x":57,"y":296,"width":420,"height":8}},{"id":"760bd15c-3f4f-4ff3-945c-137c880badc5","block_type":"box","text":"Manager (AIFM).","page_number":3,"box":{"x":58,"y":310,"width":117,"height":10}},{"id":"7ce15e30-73b4-4c56-b885-0647a3afccf3","block_type":"box","text":"Place of business and Registered office:","page_number":3,"box":{"x":57,"y":331,"width":272,"height":10}},{"id":"c4075697-fbeb-4a12-8ab4-533d44b74500","block_type":"box","text":"80 Fenchurch Street, London EC3M 4BY","page_number":3,"box":{"x":57,"y":346,"width":277,"height":9}},{"id":"3ccd0c2a-8bd7-4a59-9a32-1e95df26e664","block_type":"box","text":"Authorised and regulated by the Financial Conduct Authority;","page_number":3,"box":{"x":57,"y":367,"width":420,"height":10}},{"id":"d93e6680-686e-481d-a90f-fe2626c338e5","block_type":"box","text":"a member of The Investment Association (IA).","page_number":3,"box":{"x":57,"y":381,"width":308,"height":10}},{"id":"13002bb6-bcfd-45f4-98ff-1c787f07be02","block_type":"box","text":"T: 020 7506 6500","page_number":3,"box":{"x":57,"y":402,"width":118,"height":8}},{"id":"5e8de1ff-827a-4ba5-a4b2-80625402e96f","block_type":"box","text":"F: 020 7506 6503","page_number":3,"box":{"x":58,"y":420,"width":117,"height":7}},{"id":"a05ec024-2e6e-483b-9305-d95a276feb4f","block_type":"box","text":"Directors","page_number":3,"box":{"x":58,"y":441,"width":66,"height":7}},{"id":"9e00aad3-303d-4f4e-8ad8-77bd0fd95c31","block_type":"box","text":"J.M. Brett","page_number":3,"box":{"x":57,"y":458,"width":65,"height":8}},{"id":"53f8141e-d5ca-4041-82a6-20d8f426c531","block_type":"box","text":"(Independent Non-executive Director) (Chairman)","page_number":3,"box":{"x":127,"y":460,"width":264,"height":8}},{"id":"bed12da1-e2ff-4876-b97a-47b223eabe1f","block_type":"box","text":"H.I. Georgeson","page_number":3,"box":{"x":58,"y":474,"width":102,"height":10}},{"id":"d1242ee6-4388-4f24-a64b-76835883c5ad","block_type":"box","text":"J.S. Glen","page_number":3,"box":{"x":57,"y":490,"width":61,"height":8}},{"id":"0f54ae8a-4d04-49f7-b9f9-c7dc22a4a120","block_type":"box","text":"(Independent Non-executive Director) (Resigned 25 March 2026)","page_number":3,"box":{"x":123,"y":492,"width":346,"height":7}},{"id":"03c1974b-f93e-466a-baeb-2dc213bbce53","block_type":"box","text":"A.L. Hunt","page_number":3,"box":{"x":57,"y":506,"width":64,"height":8}},{"id":"3ca38157-6aa1-4b98-9de1-67d7a93a7f42","block_type":"box","text":"(Resigned 30 April 2026)","page_number":3,"box":{"x":126,"y":508,"width":132,"height":7}},{"id":"498ac7ab-5f1c-495d-9e2a-4a0cc0d46c22","block_type":"box","text":"J.M. Jackson","page_number":3,"box":{"x":57,"y":522,"width":88,"height":8}},{"id":"480697f9-064e-49a2-904d-ef05639fa7cf","block_type":"box","text":"(Independent Non-executive Director)","page_number":3,"box":{"x":151,"y":523,"width":200,"height":8}},{"id":"f6ea9378-f4ee-4cb3-a889-0899626551ad","block_type":"box","text":"R. Kumar","page_number":3,"box":{"x":58,"y":538,"width":63,"height":8}},{"id":"e5550e4a-e144-4a9f-8736-9c8665403c38","block_type":"box","text":"(Resigned 6 October 2025)","page_number":3,"box":{"x":126,"y":539,"width":144,"height":8}},{"id":"673230e0-81f9-4931-80d5-51cbe8890aee","block_type":"box","text":"R. McNamara","page_number":3,"box":{"x":58,"y":554,"width":93,"height":8}},{"id":"82ab663c-d342-48a1-9d9c-320ab8361d48","block_type":"box","text":"(Appointed 11 May 2026)","page_number":3,"box":{"x":156,"y":555,"width":133,"height":8}},{"id":"ac9949b9-3525-4894-80cc-50fc1e90a153","block_type":"box","text":"S. Spiller","page_number":3,"box":{"x":57,"y":570,"width":61,"height":9}},{"id":"3627ac06-e594-403e-ac56-c19e0086a766","block_type":"box","text":"(Resigned 30 June 2026)","page_number":3,"box":{"x":123,"y":571,"width":133,"height":8}},{"id":"61834e86-a555-4885-af1d-ffe342cb65b4","block_type":"box","text":"Investment Adviser","page_number":3,"box":{"x":58,"y":597,"width":179,"height":8}},{"id":"c4375739-cf1a-4358-9b53-9d2f6d88264c","block_type":"box","text":"Royal London Asset Management Limited","page_number":3,"box":{"x":58,"y":615,"width":303,"height":10}},{"id":"cd75afe7-73c7-48aa-9edb-5543a2856150","block_type":"box","text":"Place of business and Registered office:","page_number":3,"box":{"x":57,"y":636,"width":272,"height":10}},{"id":"733bf33d-08d2-43dc-ba49-a8df7758821d","block_type":"box","text":"80 Fenchurch Street, London EC3M 4BY","page_number":3,"box":{"x":57,"y":650,"width":277,"height":9}},{"id":"60b88b6c-6005-46d7-a7e0-8b6fdfde95fd","block_type":"box","text":"Authorised and regulated by the Financial Conduct Authority.","page_number":3,"box":{"x":57,"y":671,"width":410,"height":10}},{"id":"6efb4ce6-686d-49d5-9037-62495d713105","block_type":"box","text":"Depositary","page_number":3,"box":{"x":522,"y":151,"width":100,"height":11}},{"id":"fb694f36-3909-4699-8f7f-8172a9b8b6c2","block_type":"box","text":"HSBC Bank plc","page_number":3,"box":{"x":522,"y":169,"width":110,"height":10}},{"id":"2efcae0f-5cb6-4249-b48f-6b15563691ef","block_type":"box","text":"8 Canada Square, Canary Wharf, London E14 5HQ","page_number":3,"box":{"x":522,"y":184,"width":346,"height":10}},{"id":"211cf837-7d18-4e64-a660-210ff1eeb67b","block_type":"box","text":"Authorised and regulated by the Financial Conduct Authority.","page_number":3,"box":{"x":521,"y":205,"width":411,"height":10}},{"id":"eafe0ff5-0c2c-48b5-b519-dbdafe7d749a","block_type":"box","text":"Registrar","page_number":3,"box":{"x":522,"y":232,"width":86,"height":11}},{"id":"a37ef9cb-0f14-4143-9ac4-06370d560c8c","block_type":"box","text":"SS&C Financial Services International Limited","page_number":3,"box":{"x":521,"y":250,"width":337,"height":8}},{"id":"7bc1aaef-a1e2-4d19-9eb4-be58f17fb489","block_type":"box","text":"The Register may be inspected at:","page_number":3,"box":{"x":521,"y":268,"width":231,"height":10}},{"id":"edcccf05-3cf7-4e1d-bd4c-43596ab4b7f0","block_type":"box","text":"SS&C House, St Nicholas Lane, Basildon, Essex SS15 5FS","page_number":3,"box":{"x":522,"y":282,"width":401,"height":9}},{"id":"ad9f34d3-872d-4484-ad9d-ce74a9cc03bc","block_type":"box","text":"Authorised and Regulated by the Financial Conduct Authority.","page_number":3,"box":{"x":521,"y":303,"width":416,"height":10}},{"id":"faea8824-2b69-41c7-b225-06765c95cf90","block_type":"box","text":"Independent Auditor","page_number":3,"box":{"x":522,"y":330,"width":190,"height":11}},{"id":"f2ac1352-134e-48ce-a4bc-5050e5d17d46","block_type":"box","text":"KPMG LLP","page_number":3,"box":{"x":522,"y":348,"width":77,"height":8}},{"id":"1ad76701-7b63-4b65-bab6-c6d64ee6c54c","block_type":"box","text":"Chartered Accountants and Statutory Auditor","page_number":3,"box":{"x":522,"y":362,"width":333,"height":10}},{"id":"9894a3d8-5a78-42f0-b61d-c039142db10f","block_type":"box","text":"15 Canada Square, London E14 5GL","page_number":3,"box":{"x":523,"y":380,"width":247,"height":10}},{"id":"4e6e4d8f-c059-4044-95a4-9ed241bdbb3d","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":3,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"fee6f457-ef8c-414a-a65b-f493900fcb3f","block_type":"box","text":"3","page_number":3,"box":{"x":936,"y":33,"width":6,"height":6}},{"id":"4c966d53-c43f-44aa-a781-936e6ca784f1","block_type":"box","text":"We are pleased to present the Interim Report for Royal London","page_number":4,"box":{"x":57,"y":151,"width":420,"height":10}},{"id":"ba0e8f74-424d-43f8-846f-25b7ccb44ad3","block_type":"box","text":"Multi-Asset Funds ICVC, covering the six month period from","page_number":4,"box":{"x":58,"y":165,"width":419,"height":10}},{"id":"9d9dec23-331a-4c90-97e8-e174bb23815f","block_type":"box","text":"1 January 2026 to 30","page_number":4,"box":{"x":58,"y":179,"width":142,"height":10}},{"id":"d241681f-aeda-4b44-a654-14d3a3480309","block_type":"box","text":"June 2026.","page_number":4,"box":{"x":205,"y":179,"width":74,"height":8}},{"id":"a3a4bc94-07a0-44c4-8c09-43607fd1e372","block_type":"box","text":"Royal London Multi-Asset Funds ICVC (‘the Company’) is","page_number":4,"box":{"x":58,"y":200,"width":419,"height":10}},{"id":"922bf74b-cd83-4d8f-b952-d335ac4cc15e","block_type":"box","text":"authorised and regulated by the Financial Conduct Authority","page_number":4,"box":{"x":57,"y":215,"width":421,"height":10}},{"id":"444943ba-16d0-4a24-a35e-993eec606479","block_type":"box","text":"and is structured as an umbrella investment company, in that","page_number":4,"box":{"x":57,"y":229,"width":421,"height":10}},{"id":"afe4ae09-3b26-4b66-9fe1-858133165ebd","block_type":"box","text":"the Company proposes to issue shares linked to different sub","page_number":4,"box":{"x":57,"y":243,"width":421,"height":10}},{"id":"b7f53dd3-8bdb-43d9-9b3d-d31d122f9687","block_type":"box","text":"funds which have been established.","page_number":4,"box":{"x":57,"y":257,"width":240,"height":8}},{"id":"ff616ab0-ece6-4484-8944-18c37f371c80","block_type":"box","text":"The Company is a non-UCITS retail scheme and qualifies as","page_number":4,"box":{"x":57,"y":278,"width":421,"height":10}},{"id":"4eef0e23-770e-4c7a-ab7b-5ed1609228f2","block_type":"box","text":"an Alternative Investment Fund within the meaning of AIFMD.","page_number":4,"box":{"x":57,"y":293,"width":413,"height":10}},{"id":"635b81d4-b144-4d7b-be82-5da37f104967","block_type":"box","text":"The sub-funds in existence during the six month period from","page_number":4,"box":{"x":57,"y":314,"width":420,"height":10}},{"id":"fb32b3c3-eab3-43d5-a37f-10d91c1c812e","block_type":"box","text":"1 January 2026 to 30","page_number":4,"box":{"x":58,"y":328,"width":142,"height":10}},{"id":"9cc121a6-dbbd-44be-909f-f58cf7b38d29","block_type":"box","text":"June 2026 were:","page_number":4,"box":{"x":205,"y":328,"width":111,"height":8}},{"id":"53b6be8e-39d7-413c-9891-c2770f7424cf","block_type":"box","text":"Royal London GMAP Diversified Bond Fund","page_number":4,"box":{"x":58,"y":349,"width":296,"height":10}},{"id":"67939372-24c4-4131-b82d-f568d0690381","block_type":"box","text":"(launched 14 March 2016)","page_number":4,"box":{"x":58,"y":363,"width":175,"height":10}},{"id":"eee24776-7dc9-46e5-bdf8-6d3985c4425f","block_type":"box","text":"Royal London GMAP Defensive Fund","page_number":4,"box":{"x":58,"y":384,"width":251,"height":10}},{"id":"f42fc0de-9cef-42c7-98de-a5f7bb5b18db","block_type":"box","text":"(launched 14 March 2016)","page_number":4,"box":{"x":58,"y":398,"width":175,"height":10}},{"id":"5aa6c412-bf66-4a0d-ac0c-ff37d24c719d","block_type":"box","text":"Royal London GMAP Balanced Fund","page_number":4,"box":{"x":58,"y":419,"width":248,"height":10}},{"id":"27b0ffde-a2b5-4d47-8a63-9d7b09a98cf2","block_type":"box","text":"(launched 14 March 2016)","page_number":4,"box":{"x":58,"y":434,"width":175,"height":10}},{"id":"556c53ee-fbc8-4a8c-b3e6-1e648de60e77","block_type":"box","text":"Royal London GMAP Growth Fund","page_number":4,"box":{"x":58,"y":455,"width":233,"height":10}},{"id":"6adefd27-2a0f-4811-83aa-7036d6a7f9f2","block_type":"box","text":"(launched 14 March 2016)","page_number":4,"box":{"x":58,"y":469,"width":175,"height":10}},{"id":"409cc945-5cec-49cf-93a6-131c5b5bb667","block_type":"box","text":"Royal London GMAP Adventurous Fund","page_number":4,"box":{"x":58,"y":490,"width":269,"height":10}},{"id":"7fc54577-c511-4908-a73e-8b4d9f23420f","block_type":"box","text":"(launched 14 March 2016)","page_number":4,"box":{"x":58,"y":504,"width":175,"height":10}},{"id":"570a9193-733a-44a9-af2c-9c9825da7204","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund","page_number":4,"box":{"x":58,"y":525,"width":290,"height":10}},{"id":"86a83aef-a08b-4017-8bd4-6493c8011e37","block_type":"box","text":"(launched 14","page_number":4,"box":{"x":58,"y":539,"width":86,"height":10}},{"id":"df5556d8-5f94-4420-9cc3-0aa474593f01","block_type":"box","text":"March 2016)","page_number":4,"box":{"x":150,"y":539,"width":83,"height":10}},{"id":"b31e7388-dab4-4c5a-916a-7c6687beb255","block_type":"box","text":"Royal London Multi Asset Strategies Fund","page_number":4,"box":{"x":58,"y":560,"width":282,"height":10}},{"id":"f4a72284-3c40-49bb-b70f-9773500600e9","block_type":"box","text":"(launched 23 November 2018)","page_number":4,"box":{"x":58,"y":575,"width":203,"height":10}},{"id":"322ad975-abfc-4da9-875f-6a1a07973f55","block_type":"box","text":"Royal London GMAP Moderate Growth Fund","page_number":4,"box":{"x":58,"y":596,"width":302,"height":10}},{"id":"088c46b4-3a90-4517-833d-3721ed2dd240","block_type":"box","text":"(launched 25 July 2024)","page_number":4,"box":{"x":58,"y":610,"width":160,"height":10}},{"id":"81d1a3d5-d2f5-4451-aaf6-d828dab05747","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund","page_number":4,"box":{"x":58,"y":631,"width":310,"height":10}},{"id":"813936dd-facc-4f42-b3bc-d3d3edafe758","block_type":"box","text":"(launched 9 January 2026)","page_number":4,"box":{"x":58,"y":645,"width":180,"height":10}},{"id":"0fb23ea1-367f-4772-933e-9d8c9e0dc4ed","block_type":"box","text":"An ICVC may comprise a single fund or may be structured as","page_number":4,"box":{"x":57,"y":666,"width":420,"height":10}},{"id":"73b2601a-a1bb-4ec4-8b56-38b72a98acab","block_type":"box","text":"an umbrella with a number of different sub-funds, each with its","page_number":4,"box":{"x":57,"y":680,"width":421,"height":10}},{"id":"ea169721-4157-4e95-872b-b98011b0ebba","block_type":"box","text":"own portfolio of underlying assets invested in accordance with","page_number":4,"box":{"x":57,"y":695,"width":420,"height":10}},{"id":"1e51e7c5-a7e0-41ec-940e-dd1ccbf3f11a","block_type":"box","text":"the investment objective and policy applicable to that sub-fund.","page_number":4,"box":{"x":57,"y":709,"width":420,"height":10}},{"id":"2a0715dc-8359-4ad4-b7a7-a9903bf9297b","block_type":"box","text":"Currently, the funds of an umbrella company are ring-fenced,","page_number":4,"box":{"x":57,"y":730,"width":420,"height":10}},{"id":"1c0dd38a-c32d-4eb4-b04e-415008bd4025","block_type":"box","text":"and consequently creditors of the company may not look to all","page_number":4,"box":{"x":57,"y":744,"width":420,"height":10}},{"id":"f4a1f1fc-ca1b-41b9-9820-bfca4871fbf4","block_type":"box","text":"the assets of the company for payment regardless of the sub","page_number":4,"box":{"x":57,"y":758,"width":421,"height":10}},{"id":"9c0e5b7a-fafb-4b02-a60e-634cb4b66258","block_type":"box","text":"fund in respect of which that creditor’s debt has arisen.","page_number":4,"box":{"x":57,"y":773,"width":368,"height":9}},{"id":"701c0793-574b-48ea-a917-ada5e588e56a","block_type":"box","text":"Shareholders are not liable for the debts of the Company.","page_number":4,"box":{"x":57,"y":794,"width":385,"height":10}},{"id":"a9c8c3f7-47ad-4a6c-ba8b-669641a8cf95","block_type":"box","text":"This report has been prepared in accordance with the","page_number":4,"box":{"x":521,"y":151,"width":421,"height":10}},{"id":"9260a909-e0b2-4880-a1c5-93f83bf6aa10","block_type":"box","text":"requirements of the Collective Investment Schemes","page_number":4,"box":{"x":522,"y":165,"width":420,"height":10}},{"id":"0054a381-bda1-4eb0-be0f-1269c61ac68a","block_type":"box","text":"Sourcebook as issued and amended by the Financial","page_number":4,"box":{"x":521,"y":179,"width":420,"height":10}},{"id":"9a66bfe7-6417-4add-baa7-c736dcfe7e5f","block_type":"box","text":"Conduct","page_number":4,"box":{"x":522,"y":194,"width":61,"height":8}},{"id":"24ed046f-c50f-4ea9-a6c5-30b35ce16fc0","block_type":"box","text":"Authority.","page_number":4,"box":{"x":588,"y":194,"width":71,"height":10}},{"id":"e3d03d47-d8ce-4515-9b4f-f0512c52c087","block_type":"box","text":"For and behalf of Royal London Unit Trust","page_number":4,"box":{"x":522,"y":215,"width":311,"height":10}},{"id":"9ba38927-277b-4f21-95fa-63c60177073b","block_type":"box","text":"Managers","page_number":4,"box":{"x":522,"y":229,"width":71,"height":10}},{"id":"327be141-1840-4ce5-b6e2-8fa933db3177","block_type":"box","text":"Limited","page_number":4,"box":{"x":600,"y":229,"width":54,"height":8}},{"id":"0a37077a-170a-4af2-be4e-d75c06bd78a9","block_type":"box","text":"Authorised Corporate Director","page_number":4,"box":{"x":521,"y":250,"width":224,"height":10}},{"id":"4ec25964-2be1-4c3f-9de5-59ffa6be15f5","block_type":"box","text":"H. I. Georgeson","page_number":4,"box":{"x":522,"y":334,"width":112,"height":10}},{"id":"390f6d71-4802-40b0-8e7a-525e3f6a4e9c","block_type":"box","text":"(Director)","page_number":4,"box":{"x":643,"y":334,"width":62,"height":10}},{"id":"ebad3731-5167-4698-a548-f5ffa7caa920","block_type":"box","text":"R. McNamara","page_number":4,"box":{"x":522,"y":418,"width":96,"height":8}},{"id":"3e156266-e6c2-4cb1-b876-ed7758374d04","block_type":"box","text":"(Director)","page_number":4,"box":{"x":643,"y":418,"width":62,"height":10}},{"id":"48ee6117-f13e-47bd-be02-ff99a35240f4","block_type":"box","text":"24 August 2026","page_number":4,"box":{"x":521,"y":460,"width":112,"height":10}},{"id":"7a57e573-c554-4497-821b-17b7a2a8c4b9","block_type":"box","text":"Directors’ Report","page_number":4,"box":{"x":58,"y":94,"width":203,"height":14}},{"id":"49a64019-b4d9-41a8-9c7e-fa9618470d48","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":4,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"24b0e069-ffab-46ab-9ad2-69bf31773b2a","block_type":"box","text":"4","page_number":4,"box":{"x":936,"y":33,"width":6,"height":6}},{"id":"2a21e722-84ba-4cd4-9ada-403483d93592","block_type":"box","text":"1. Accounting policies","page_number":5,"box":{"x":58,"y":151,"width":205,"height":11}},{"id":"79bcf144-53b8-4de3-bb16-a425cdf6ead6","block_type":"box","text":"Basis of preparation","page_number":5,"box":{"x":58,"y":173,"width":147,"height":10}},{"id":"6eb5ebc8-1713-4d71-81d1-887d2b59242e","block_type":"box","text":"The financial statements have been prepared under the","page_number":5,"box":{"x":57,"y":190,"width":420,"height":10}},{"id":"503ef56b-fbe3-4bf7-8834-32687dd00322","block_type":"box","text":"historical cost basis, as modified by the revaluation of","page_number":5,"box":{"x":58,"y":205,"width":421,"height":10}},{"id":"a7ee56a5-ff14-4a5f-b569-2fede7f5cc94","block_type":"box","text":"investments, in compliance with the Financial Conduct","page_number":5,"box":{"x":58,"y":219,"width":420,"height":10}},{"id":"6118c082-5e2c-48c4-80ee-807dc4aaf348","block_type":"box","text":"Authority’s Collective Investment Schemes sourcebook. They","page_number":5,"box":{"x":57,"y":233,"width":421,"height":10}},{"id":"444519b9-be2f-4f37-945c-904dd2fcb103","block_type":"box","text":"have been prepared in accordance with the UK Financial","page_number":5,"box":{"x":58,"y":247,"width":419,"height":10}},{"id":"fd2ec6cd-a15d-4fba-9f5f-c3424bb04ad1","block_type":"box","text":"Reporting Standard 102 (FRS 102, FRS 104) and the","page_number":5,"box":{"x":58,"y":262,"width":419,"height":10}},{"id":"afd02b10-f0a8-4162-b1eb-051b73b618f0","block_type":"box","text":"Statement of Recommended Practice for Authorised Funds","page_number":5,"box":{"x":57,"y":276,"width":420,"height":8}},{"id":"75155f0d-32a0-40ab-85e3-cf227ecca104","block_type":"box","text":"(SORP) for Financial Statements of Authorised Funds issued","page_number":5,"box":{"x":58,"y":290,"width":419,"height":10}},{"id":"e7a292e5-31e4-4222-af99-7c5fb847e244","block_type":"box","text":"by The Investment Association in October 2025.","page_number":5,"box":{"x":58,"y":304,"width":323,"height":10}},{"id":"ba0605ed-4253-4ec5-a952-c0c3188f5b66","block_type":"box","text":"The accounting policies outlined below have been applied on","page_number":5,"box":{"x":57,"y":325,"width":420,"height":10}},{"id":"75505afe-a2d1-4233-b849-5618876a1ac6","block_type":"box","text":"a consistent basis throughout the period.","page_number":5,"box":{"x":57,"y":340,"width":277,"height":10}},{"id":"7e630b82-cefd-4e80-aac6-f1432a8f1c74","block_type":"box","text":"Further analysis of the distribution and the net asset position","page_number":5,"box":{"x":58,"y":361,"width":419,"height":10}},{"id":"30fa764e-57ce-4d3e-8feb-a385150966e7","block_type":"box","text":"can be found within the Financial Statements of the individual","page_number":5,"box":{"x":57,"y":375,"width":420,"height":8}},{"id":"229b27e1-b685-4a83-99a2-b5099035ba72","block_type":"box","text":"sub-funds.","page_number":5,"box":{"x":57,"y":389,"width":71,"height":8}},{"id":"103a6998-8e22-450c-9b20-12e25fd1e657","block_type":"box","text":"Basis of valuation of investments","page_number":5,"box":{"x":58,"y":413,"width":242,"height":8}},{"id":"2c44fb6b-c7d6-450b-9e30-b2fa71ae8a6e","block_type":"box","text":"The investments of the Company have been valued at closing","page_number":5,"box":{"x":57,"y":431,"width":420,"height":10}},{"id":"eefc5ae7-8d71-4f35-9404-8b2dc8cdda31","block_type":"box","text":"mid price on 30 June 2026, the last valuation point in the","page_number":5,"box":{"x":58,"y":445,"width":419,"height":10}},{"id":"43835f3c-5cb0-40dc-a01b-41ac86d656eb","block_type":"box","text":"accounting period.","page_number":5,"box":{"x":57,"y":460,"width":124,"height":10}},{"id":"7c55a494-5546-46bd-b491-ce7973d9d4ec","block_type":"box","text":"This is deemed by the ACD to reflect the fair value of investments.","page_number":5,"box":{"x":57,"y":481,"width":420,"height":10}},{"id":"86def60f-fbe1-44c0-93e4-053e3c77f10c","block_type":"box","text":"If the closing mid price is not available the price used is the last","page_number":5,"box":{"x":58,"y":502,"width":420,"height":10}},{"id":"9628b6da-abc7-493c-88bd-f03060802993","block_type":"box","text":"available published price at the year end.","page_number":5,"box":{"x":57,"y":516,"width":276,"height":10}},{"id":"73857305-8361-4eda-94be-95328fdff9d5","block_type":"box","text":"The ACD has assigned the responsibility to review and approve","page_number":5,"box":{"x":57,"y":537,"width":420,"height":10}},{"id":"ca1d55dc-42bb-4351-abbc-f90b0ab8b6e4","block_type":"box","text":"fair value pricing decisions to the RLAM Valuation Oversight","page_number":5,"box":{"x":57,"y":551,"width":421,"height":10}},{"id":"68dd10ec-45de-4879-89dd-ac87ae713152","block_type":"box","text":"Committee. In accordance with the RLAM Pricing and Ensuring","page_number":5,"box":{"x":57,"y":565,"width":420,"height":10}},{"id":"1f4f45ca-0fab-4626-b04a-13bca5c85553","block_type":"box","text":"Fair Value Policy, the Committee provide regular governance","page_number":5,"box":{"x":58,"y":580,"width":419,"height":10}},{"id":"424b9cb8-c289-4383-b06a-ef86b9e69277","block_type":"box","text":"and oversight on suspended, defaulted, delisted, unquoted or","page_number":5,"box":{"x":57,"y":594,"width":421,"height":10}},{"id":"da8dfa9c-3359-45da-a966-a5b928a3894c","block_type":"box","text":"manually priced securities, taking into consideration where","page_number":5,"box":{"x":58,"y":608,"width":419,"height":10}},{"id":"360f61ee-f526-47f8-9aad-e86f31ce0dcc","block_type":"box","text":"appropriate, latest dealing prices, valuations from reliable","page_number":5,"box":{"x":57,"y":622,"width":420,"height":10}},{"id":"6ff7a374-0e0a-44f2-b098-9b469115f361","block_type":"box","text":"sources, financial performance and other relevant factors.","page_number":5,"box":{"x":57,"y":637,"width":390,"height":9}},{"id":"f6e37d5d-a3f0-4512-9683-9fe4f0b96da5","block_type":"box","text":"Investments in dual priced Collective Investment Schemes","page_number":5,"box":{"x":58,"y":658,"width":419,"height":9}},{"id":"ce7388e0-80c4-4d24-a6bd-a4451c0b3694","block_type":"box","text":"(CIS) have been valued at the mid price of the bid and offer","page_number":5,"box":{"x":58,"y":672,"width":420,"height":10}},{"id":"6603849f-d421-4498-92bd-cabd323fb90e","block_type":"box","text":"price. Single priced CIS have been valued at their quoted price.","page_number":5,"box":{"x":58,"y":686,"width":419,"height":10}},{"id":"2d889437-df88-4d0e-9e17-75d2a88a63fd","block_type":"box","text":"Derivative assets and liabilities are valued at the fair value","page_number":5,"box":{"x":58,"y":707,"width":419,"height":8}},{"id":"c2b9f601-7291-494c-85fa-51da62e65730","block_type":"box","text":"price to close out the contract at the Balance Sheet date, using","page_number":5,"box":{"x":58,"y":721,"width":419,"height":10}},{"id":"659fb403-d07f-4921-b89e-104c0b38b8c7","block_type":"box","text":"available market prices or an assessment of fair value based","page_number":5,"box":{"x":57,"y":736,"width":420,"height":9}},{"id":"04819d79-3f89-4eba-839d-bf0c9eef7062","block_type":"box","text":"on counterparty valuations and appropriate pricing models.","page_number":5,"box":{"x":57,"y":750,"width":398,"height":10}},{"id":"dae08401-c0ba-414b-b50c-71bc9d94ec04","block_type":"box","text":"Exchange rates","page_number":5,"box":{"x":58,"y":774,"width":112,"height":10}},{"id":"60ef96b8-d056-4207-beda-a6c109d820f0","block_type":"box","text":"Assets and liabilities denominated in foreign currencies have","page_number":5,"box":{"x":57,"y":792,"width":420,"height":10}},{"id":"c9987ac3-1f59-4d29-afd5-50b0ef8d6205","block_type":"box","text":"been converted to sterling at the mid-market closing rates of","page_number":5,"box":{"x":58,"y":806,"width":421,"height":10}},{"id":"1ba10c95-6301-4ecc-af09-fca61da2cc06","block_type":"box","text":"exchange on 30","page_number":5,"box":{"x":57,"y":820,"width":107,"height":10}},{"id":"169144e5-e1cd-4cd3-91bd-7202da51340d","block_type":"box","text":"June 2026.","page_number":5,"box":{"x":170,"y":820,"width":73,"height":8}},{"id":"c7e5b1ca-a3b1-471d-84ec-b22f6f539dcf","block_type":"box","text":"Foreign income and expenditure have been converted into","page_number":5,"box":{"x":58,"y":841,"width":420,"height":10}},{"id":"a33422d3-98f4-4dc8-bcd6-2f608412e5be","block_type":"box","text":"sterling at the rate of exchange ruling at the date of transaction.","page_number":5,"box":{"x":57,"y":856,"width":420,"height":10}},{"id":"1da664b7-74d4-4e50-9ffc-2043f95ffde7","block_type":"box","text":"Summary of Significant Accounting Policies","page_number":5,"box":{"x":57,"y":94,"width":525,"height":14}},{"id":"b1160c2c-e326-4a0b-b7de-c5b3612db2f9","block_type":"box","text":"For the six month period ended 30","page_number":5,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"cc0b1fd8-49cb-445c-b4a3-0cdfa8bff256","block_type":"box","text":"June 2026","page_number":5,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"daae2622-de3e-48d3-a84e-9214526a7407","block_type":"box","text":"Recognition of revenue","page_number":5,"box":{"x":522,"y":151,"width":169,"height":10}},{"id":"f2ab8a14-1925-4c8a-8154-b61e191ac62a","block_type":"box","text":"Revenue from equities and non-equity shares (including","page_number":5,"box":{"x":522,"y":169,"width":419,"height":10}},{"id":"8a9ef6e6-4728-40aa-bb10-f3a4f7f7ed99","block_type":"box","text":"distributions from collective investment schemes and","page_number":5,"box":{"x":521,"y":183,"width":420,"height":8}},{"id":"028b34c7-7564-4390-a3c0-b3fb9a8359c9","block_type":"box","text":"Exchange Traded Funds) is recognised when the security is","page_number":5,"box":{"x":522,"y":197,"width":420,"height":10}},{"id":"160ce9d1-c41a-420d-aea7-5648e72fad54","block_type":"box","text":"quoted ex","page_number":5,"box":{"x":521,"y":212,"width":66,"height":9}},{"id":"a68a34a8-e805-42f9-8be3-ca7eb9092f87","block_type":"box","text":"‑","page_number":5,"box":{"x":588,"y":216,"width":4,"height":1}},{"id":"2348b762-f6ab-455f-9b22-a415e0edb153","block_type":"box","text":"dividend.","page_number":5,"box":{"x":593,"y":212,"width":60,"height":7}},{"id":"dd631953-9fe2-4960-8043-85fab121ba47","block_type":"box","text":"Revenue received from investments in authorised collective","page_number":5,"box":{"x":522,"y":232,"width":420,"height":8}},{"id":"14815ff5-5783-45da-8698-fcf8b21e4e70","block_type":"box","text":"investment schemes, which are purchased during the financial","page_number":5,"box":{"x":522,"y":247,"width":419,"height":10}},{"id":"435ef7fb-0b63-4d8a-922b-605218895191","block_type":"box","text":"period, will include an element of equalisation which represents","page_number":5,"box":{"x":522,"y":261,"width":420,"height":10}},{"id":"c7cefd5c-512b-4b51-b40c-db6db0e38326","block_type":"box","text":"the average amount of revenue included in the price paid for","page_number":5,"box":{"x":521,"y":275,"width":422,"height":10}},{"id":"d25c01d6-fdc6-4df5-b8ed-e0130ecebb26","block_type":"box","text":"shares or units. This equalisation is treated as capital and","page_number":5,"box":{"x":521,"y":290,"width":420,"height":9}},{"id":"39b5e832-05b8-41df-9b01-d4d051c6174a","block_type":"box","text":"deducted from the cost of the investment.","page_number":5,"box":{"x":521,"y":304,"width":279,"height":8}},{"id":"bcd3d8b7-39ac-49e8-837a-008ef58c89c8","block_type":"box","text":"Interest and revenue from bank balances and deposits and","page_number":5,"box":{"x":522,"y":325,"width":419,"height":10}},{"id":"bf2ccd82-7116-4359-9940-7a86a071258f","block_type":"box","text":"other securities is recognised on an accruals basis.","page_number":5,"box":{"x":521,"y":339,"width":346,"height":10}},{"id":"fcd454cd-3203-46ba-a945-1c1a9b17c0a6","block_type":"box","text":"UK dividends are shown net of any associated tax credits","page_number":5,"box":{"x":522,"y":360,"width":420,"height":10}},{"id":"d7bc5e42-4d9b-4838-9c72-a1b8b8b8ff99","block_type":"box","text":"attached to the income.","page_number":5,"box":{"x":521,"y":374,"width":158,"height":8}},{"id":"e7fe952e-d707-4f9d-baca-b92f524d32d8","block_type":"box","text":"Overseas revenue received after the deduction of withholding","page_number":5,"box":{"x":522,"y":395,"width":419,"height":10}},{"id":"2af1bfed-9374-43e2-a134-083f42a30b56","block_type":"box","text":"tax is shown gross of tax, with the tax consequences shown","page_number":5,"box":{"x":521,"y":409,"width":420,"height":10}},{"id":"180d6fca-1b42-4cc3-83ab-24c6c80e4acd","block_type":"box","text":"within the tax charge.","page_number":5,"box":{"x":521,"y":424,"width":143,"height":10}},{"id":"dfab8775-acfe-4ad1-b6f5-533d2315e490","block_type":"box","text":"Dividends from UK REITs are split into PID (Property Income","page_number":5,"box":{"x":522,"y":445,"width":420,"height":10}},{"id":"e01c49a3-3edc-4998-a995-d755e140a632","block_type":"box","text":"Distributions) and Non-PID components for tax purposes.","page_number":5,"box":{"x":522,"y":459,"width":419,"height":10}},{"id":"04dac7ba-c62b-4f6f-8bef-37b52dcde323","block_type":"box","text":"Revenue arising from UK REITs tax-exempt rental business is","page_number":5,"box":{"x":522,"y":473,"width":420,"height":10}},{"id":"c184e126-957d-40d7-afc4-52556817f688","block_type":"box","text":"colloquially known as PID revenue and is taxable in the hands","page_number":5,"box":{"x":522,"y":488,"width":420,"height":9}},{"id":"fccb5a05-96e1-47dd-82ce-8aaa7a5504de","block_type":"box","text":"of the Fund. A UK REIT may also carry out activities that give","page_number":5,"box":{"x":521,"y":502,"width":421,"height":10}},{"id":"afbc6ee2-92bd-4880-b407-b3f427a46dc0","block_type":"box","text":"rise to taxable profits and gains, it is from these that the REIT","page_number":5,"box":{"x":522,"y":516,"width":420,"height":10}},{"id":"2c1537c0-cd79-45ab-bfe1-7d25307c2774","block_type":"box","text":"will make a Non-PID distribution, these are treated for tax","page_number":5,"box":{"x":521,"y":530,"width":421,"height":9}},{"id":"000ba61b-b7eb-4317-8b55-66072ad0bacd","block_type":"box","text":"purposes in the same way as dividends from UK companies","page_number":5,"box":{"x":522,"y":544,"width":420,"height":10}},{"id":"8b7ba546-1bca-48d8-847b-1370ca3d4fe6","block_type":"box","text":"and are reflected under UK dividends within the revenue note.","page_number":5,"box":{"x":521,"y":559,"width":417,"height":8}},{"id":"7dd54c3f-8bbf-402c-9ca9-83634575fcc2","block_type":"box","text":"Interest earned on interest bearing securities are determined","page_number":5,"box":{"x":522,"y":580,"width":419,"height":10}},{"id":"e84a1610-a0cd-4e8a-9435-72d1b55172c7","block_type":"box","text":"on an effective yield basis. Effective yield is a revenue","page_number":5,"box":{"x":521,"y":594,"width":421,"height":10}},{"id":"e9c68752-4453-4cd1-817b-c9dc0c0a7aa4","block_type":"box","text":"calculation that reflects the amount of amortisation of any","page_number":5,"box":{"x":522,"y":608,"width":420,"height":10}},{"id":"fef53778-2e39-4ceb-a694-87ec01361e79","block_type":"box","text":"discount or premium on the purchase price over the remaining","page_number":5,"box":{"x":521,"y":623,"width":420,"height":9}},{"id":"bd01c99e-5419-48fd-87cb-5bbdbe7adb84","block_type":"box","text":"life of the security.","page_number":5,"box":{"x":522,"y":637,"width":121,"height":10}},{"id":"83096852-9916-4305-acd5-1ffe9e04552b","block_type":"box","text":"The fees charged on underlying collective investment schemes","page_number":5,"box":{"x":521,"y":658,"width":421,"height":10}},{"id":"ea5853b5-978a-4505-b6f1-8484cb948164","block_type":"box","text":"and exchange traded funds are reimbursed back to the","page_number":5,"box":{"x":521,"y":672,"width":421,"height":10}},{"id":"4296b2dd-d12b-4891-8e1f-1740129e8599","block_type":"box","text":"sub","page_number":5,"box":{"x":521,"y":686,"width":24,"height":8}},{"id":"278116c4-f951-4c97-9521-9e0ac3ee3d72","block_type":"box","text":"‑","page_number":5,"box":{"x":546,"y":691,"width":5,"height":1}},{"id":"4d05af8d-c534-4578-8d11-92398cde2d84","block_type":"box","text":"funds via either rebate agreements or by Royal London","page_number":5,"box":{"x":551,"y":686,"width":390,"height":10}},{"id":"0e110fcc-0140-4ff0-9392-8fc89a777535","block_type":"box","text":"Asset Management Limited. The accrual and reimbursement of","page_number":5,"box":{"x":521,"y":700,"width":422,"height":10}},{"id":"e3e4c837-ef3e-4839-9320-3d2ed878db7a","block_type":"box","text":"this fee (referenced as management fee rebates) is recognised","page_number":5,"box":{"x":521,"y":715,"width":420,"height":10}},{"id":"27feb41f-480d-4bf6-8b38-62b24f4304a2","block_type":"box","text":"as either capital or income in accordance with the management","page_number":5,"box":{"x":521,"y":729,"width":421,"height":10}},{"id":"1af5b330-4510-4866-9dbb-544fc2abd215","block_type":"box","text":"fee charged on the underlying Collective Investment Schemes.","page_number":5,"box":{"x":521,"y":743,"width":420,"height":10}},{"id":"c194b11e-5570-46d9-9a42-ba6752a08361","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":5,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"7b5ec492-fc67-4d2c-aba3-a7c4b71abcfc","block_type":"box","text":"5","page_number":5,"box":{"x":936,"y":33,"width":6,"height":6}},{"id":"ae593705-b49c-4abf-9aa9-9df6186656ca","block_type":"box","text":"1. Accounting policies – continued","page_number":6,"box":{"x":58,"y":151,"width":317,"height":11}},{"id":"68976cec-a107-4566-a3d1-dec7ed6019e1","block_type":"box","text":"Treatment of expenses","page_number":6,"box":{"x":57,"y":173,"width":165,"height":10}},{"id":"4e142870-f877-4c70-82e0-768f2900b186","block_type":"box","text":"Expenses are recognised on an accruals basis.","page_number":6,"box":{"x":58,"y":190,"width":318,"height":10}},{"id":"63ff3b6d-0e53-4d6e-aefa-462b6edc891f","block_type":"box","text":"The underlying sub-funds may hold a number of share classes.","page_number":6,"box":{"x":57,"y":211,"width":420,"height":10}},{"id":"832b44e5-ede9-45fa-aa47-2a36c10c6a5f","block_type":"box","text":"Each share class suffers a different Fund Management Fee,","page_number":6,"box":{"x":58,"y":226,"width":419,"height":10}},{"id":"a05fcf10-238b-4248-b0cf-f5877a35dc13","block_type":"box","text":"which can be found in the Prospectus. Consequently the level","page_number":6,"box":{"x":57,"y":240,"width":420,"height":10}},{"id":"46a9d612-2c63-4dfd-81b6-42d7c4513a57","block_type":"box","text":"of expenses attributable to each share class will differ.","page_number":6,"box":{"x":57,"y":254,"width":365,"height":10}},{"id":"0ec207e5-2eb2-4c49-919a-96ebc6e0571b","block_type":"box","text":"The costs and charges detailed in the Prospectus, including the","page_number":6,"box":{"x":57,"y":275,"width":420,"height":10}},{"id":"242b1b08-d960-497b-b081-f0ff0444b3da","block_type":"box","text":"ACD’s own fee, will be met out of this fixed Fund Management","page_number":6,"box":{"x":57,"y":289,"width":421,"height":10}},{"id":"a9195344-c701-4a40-bd48-7fb559d96e5f","block_type":"box","text":"Fee. In the event the actual costs incurred by a sub-fund","page_number":6,"box":{"x":58,"y":304,"width":419,"height":10}},{"id":"5c2be474-2f9e-439c-9ea1-d5d4a920ca01","block_type":"box","text":"exceed the level of the fixed Fund Management Fee applicable","page_number":6,"box":{"x":57,"y":318,"width":420,"height":10}},{"id":"24d29794-7737-4fa0-8fa1-5d3938407680","block_type":"box","text":"to that share class, the ACD shall bear any such excess. Where","page_number":6,"box":{"x":57,"y":332,"width":420,"height":10}},{"id":"3c8f35f4-2011-48bf-b064-f21088b08590","block_type":"box","text":"the actual costs incurred by a sub-fund fall below the fixed","page_number":6,"box":{"x":57,"y":346,"width":420,"height":10}},{"id":"8324f9ed-2df2-4c1e-8c4f-0510b2d2914a","block_type":"box","text":"Fund Management Fee, the ACD shall be entitled to retain any","page_number":6,"box":{"x":58,"y":361,"width":420,"height":10}},{"id":"d0728759-f425-427e-9e83-9a083200d980","block_type":"box","text":"amount by which the fixed Fund Management Fee exceeds","page_number":6,"box":{"x":57,"y":375,"width":421,"height":10}},{"id":"da977b06-33bd-4a03-8d0f-15687b2c4563","block_type":"box","text":"those actual costs.","page_number":6,"box":{"x":57,"y":389,"width":125,"height":8}},{"id":"433f849e-c72c-46b7-beef-a18354aab336","block_type":"box","text":"Taxation","page_number":6,"box":{"x":57,"y":414,"width":61,"height":7}},{"id":"df2e17c5-8018-4243-ba9f-c9d9a777e511","block_type":"box","text":"Royal London GMAP Diversified Bond Fund and Royal London","page_number":6,"box":{"x":58,"y":431,"width":419,"height":10}},{"id":"4123156f-b710-41d9-a910-f0742bc4784d","block_type":"box","text":"Multi Asset Strategies Fund satisfied the qualifying investments","page_number":6,"box":{"x":58,"y":445,"width":419,"height":10}},{"id":"488e3e76-4fea-4cf8-abb7-248a0820e9b9","block_type":"box","text":"test of Statutory Instrument 2006/964 Authorised Investment","page_number":6,"box":{"x":57,"y":460,"width":421,"height":10}},{"id":"5b423c9f-95ec-43a5-8a10-fd3aa19f03db","block_type":"box","text":"Funds (Tax) Regulations 2006 Paragraph 19 throughout the","page_number":6,"box":{"x":58,"y":474,"width":419,"height":10}},{"id":"b4fa1162-6a0e-4168-b0f4-38c6a8b04f70","block_type":"box","text":"period. All distributions made are therefore made as interest","page_number":6,"box":{"x":58,"y":488,"width":420,"height":10}},{"id":"4f8b2406-335a-4289-aa81-72911bd0f6b3","block_type":"box","text":"distributions for these two sub-funds.","page_number":6,"box":{"x":57,"y":502,"width":249,"height":8}},{"id":"8fcabd72-527e-4fbf-82f1-c62c1fa74753","block_type":"box","text":"Provision is made for taxation at current rates on the excess","page_number":6,"box":{"x":58,"y":523,"width":419,"height":8}},{"id":"3755fda7-870e-4d2a-9c34-78fcd6ffc5a4","block_type":"box","text":"of investment revenue over allowable expenses, with relief for","page_number":6,"box":{"x":57,"y":538,"width":421,"height":9}},{"id":"b824f647-7e56-474d-bc7b-7f028aca89a1","block_type":"box","text":"overseas taxation taken where appropriate.","page_number":6,"box":{"x":57,"y":552,"width":291,"height":10}},{"id":"be50e994-f92b-4a30-9513-9defcadb21c1","block_type":"box","text":"Deferred tax is provided on all timing differences that have","page_number":6,"box":{"x":58,"y":573,"width":419,"height":10}},{"id":"17590b5c-405d-4e93-a5cd-c6108ee4c6b5","block_type":"box","text":"originated but not reversed by the balance sheet date. Deferred","page_number":6,"box":{"x":57,"y":587,"width":420,"height":10}},{"id":"16951762-761f-4289-9c38-b26b3da4c2b1","block_type":"box","text":"tax is not recognised on permanent differences.","page_number":6,"box":{"x":57,"y":601,"width":322,"height":10}},{"id":"40697b0c-8185-41d6-a360-7e92cfea7834","block_type":"box","text":"Deferred tax assets are recognised only to the extent that it","page_number":6,"box":{"x":58,"y":622,"width":420,"height":10}},{"id":"0f7aa653-27c7-4844-8115-88efca20765e","block_type":"box","text":"is more likely than not that there will be taxable profits from","page_number":6,"box":{"x":58,"y":637,"width":419,"height":10}},{"id":"134c8f87-53f6-49a2-973e-f83c9003e76d","block_type":"box","text":"which the future reversal of the underlying timing differences","page_number":6,"box":{"x":57,"y":651,"width":420,"height":10}},{"id":"a82064a7-c3af-4da1-abb2-ba1c255c9135","block_type":"box","text":"can be deducted.","page_number":6,"box":{"x":57,"y":665,"width":116,"height":8}},{"id":"06c72b92-9f13-4a80-a918-ac3d5b2d37a2","block_type":"box","text":"Summary of Significant Accounting Policies","page_number":6,"box":{"x":57,"y":94,"width":525,"height":14}},{"id":"30b189b2-df09-4c89-b8a3-24e4ef514863","block_type":"box","text":"(continued)","page_number":6,"box":{"x":588,"y":97,"width":74,"height":10}},{"id":"f3a7d32c-4a7f-4681-bdcc-018c4554d3db","block_type":"box","text":"For the six month period ended 30","page_number":6,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"9999404f-6d5d-4334-8ae6-99a490ffeae9","block_type":"box","text":"June 2026","page_number":6,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"6d25ad92-4dcb-48f9-b5ba-15df84d93b4e","block_type":"box","text":"Treatment of derivative contracts","page_number":6,"box":{"x":521,"y":151,"width":242,"height":8}},{"id":"52bf18ee-680a-450d-9748-a2d3e633fbbc","block_type":"box","text":"The unrealised gains or losses on Forward Foreign Exchanges","page_number":6,"box":{"x":521,"y":169,"width":421,"height":10}},{"id":"8c25301c-1b1b-44f2-8268-5283a5de14fb","block_type":"box","text":"(FFX) are disclosed in the Portfolio Statements, where such","page_number":6,"box":{"x":522,"y":183,"width":419,"height":10}},{"id":"3ca0386d-7882-4592-bb90-ce72e99d4d03","block_type":"box","text":"contracts are held by an individual sub","page_number":6,"box":{"x":522,"y":197,"width":258,"height":10}},{"id":"eebab568-4635-431e-a247-b51da3fa4186","block_type":"box","text":"‑","page_number":6,"box":{"x":782,"y":202,"width":4,"height":1}},{"id":"8389cf9e-f3e5-47cf-8f7a-e3064f93696e","block_type":"box","text":"fund.","page_number":6,"box":{"x":787,"y":197,"width":32,"height":8}},{"id":"df985aa4-f5fc-46bf-8b0d-cd87277f722d","block_type":"box","text":"The unrealised gains or losses on open future contracts are","page_number":6,"box":{"x":521,"y":218,"width":421,"height":10}},{"id":"ae11e316-94e4-4561-9755-a667aec77fb3","block_type":"box","text":"disclosed in the Portfolio Statement, where such contracts","page_number":6,"box":{"x":521,"y":232,"width":421,"height":10}},{"id":"4fcdfe6f-3f73-4b64-a5d3-ca943fbf51f0","block_type":"box","text":"are held by an individual sub-fund. The margins paid on these","page_number":6,"box":{"x":521,"y":247,"width":421,"height":10}},{"id":"4c294989-9540-4b7e-a4f8-98b2b47b9f18","block_type":"box","text":"contracts are included in the amounts held at derivative clearing","page_number":6,"box":{"x":522,"y":261,"width":419,"height":10}},{"id":"a2bfd7ef-5979-462e-bf50-d13427377696","block_type":"box","text":"houses and brokers.","page_number":6,"box":{"x":522,"y":275,"width":136,"height":8}},{"id":"b2bf745b-1468-4895-b71c-30c276c54f59","block_type":"box","text":"Motives and circumstances are used to determine whether","page_number":6,"box":{"x":522,"y":296,"width":421,"height":8}},{"id":"4cf1add0-7b86-4d1e-963d-87681d1750ce","block_type":"box","text":"returns on derivative contracts should be treated as capital or","page_number":6,"box":{"x":522,"y":311,"width":421,"height":9}},{"id":"f32e095e-6a43-47a5-a381-44f55804ac56","block_type":"box","text":"revenue. Where positions are undertaken to protect or enhance","page_number":6,"box":{"x":522,"y":325,"width":420,"height":10}},{"id":"dee53ac5-c189-42ae-849e-7f7eea21d11d","block_type":"box","text":"capital and the circumstances support this, the returns are","page_number":6,"box":{"x":522,"y":339,"width":420,"height":10}},{"id":"afc7ca07-3e3a-41a3-9dd8-a045ba3582d1","block_type":"box","text":"included within net capital gains/losses in the Statement of","page_number":6,"box":{"x":522,"y":353,"width":421,"height":10}},{"id":"50769665-fe3a-4918-8b65-65ef5e0189a4","block_type":"box","text":"Total Return. Where they are undertaken for generating or","page_number":6,"box":{"x":521,"y":367,"width":422,"height":10}},{"id":"7fcb11c9-4fc3-4789-bb0f-0dcbff276418","block_type":"box","text":"protecting revenue and the circumstances support this, the","page_number":6,"box":{"x":522,"y":382,"width":420,"height":10}},{"id":"2dfba720-12c9-42b6-9640-7c0fd1811274","block_type":"box","text":"returns are treated as revenue and are included within the net","page_number":6,"box":{"x":522,"y":396,"width":420,"height":8}},{"id":"200d2d0e-2936-48dd-9300-97c8212dc059","block_type":"box","text":"revenue in the Statement of Total Return.","page_number":6,"box":{"x":522,"y":410,"width":276,"height":8}},{"id":"cd56940f-9425-4063-986c-6950b3e149a7","block_type":"box","text":"The basis of apportionment is typically made by reference","page_number":6,"box":{"x":521,"y":431,"width":421,"height":10}},{"id":"4937c9be-fc31-478b-9749-506f6954ccfd","block_type":"box","text":"to the yield on the underlying security, index or other","page_number":6,"box":{"x":521,"y":446,"width":422,"height":9}},{"id":"2bf02b09-987e-46ef-b2f4-59032668515c","block_type":"box","text":"appropriate source.","page_number":6,"box":{"x":521,"y":460,"width":131,"height":10}},{"id":"7591d069-2720-45a1-8262-85e588ef87c8","block_type":"box","text":"Dilution adjustment","page_number":6,"box":{"x":522,"y":484,"width":143,"height":10}},{"id":"cfe96b0b-cafb-4d1b-b9a6-24f7d31828d3","block_type":"box","text":"In order to mitigate the effect of dilution the Regulations allow","page_number":6,"box":{"x":522,"y":502,"width":420,"height":10}},{"id":"ba3b8d8f-e70d-4acc-82f3-0f805e97fe72","block_type":"box","text":"the ACD to adjust the sale and purchase price of shares in the","page_number":6,"box":{"x":521,"y":516,"width":421,"height":10}},{"id":"368e7845-df97-4bb0-8609-6ad7e29fd463","block_type":"box","text":"sub-funds to take into account the possible effects of dilution.","page_number":6,"box":{"x":521,"y":530,"width":412,"height":10}},{"id":"c2ca4988-7208-4e9c-b267-0a728d8b5dd2","block_type":"box","text":"This practice is known as making a “dilution adjustment” or","page_number":6,"box":{"x":521,"y":551,"width":422,"height":10}},{"id":"9ac29b7d-7092-41ce-beb0-462da4a17aa4","block_type":"box","text":"operating swinging single pricing.","page_number":6,"box":{"x":521,"y":566,"width":224,"height":9}},{"id":"cdc9e589-3150-43bf-9f36-b5a7de3401fe","block_type":"box","text":"The power to make a dilution adjustment may only be exercised","page_number":6,"box":{"x":521,"y":586,"width":420,"height":10}},{"id":"6ba01059-6bbb-41e4-8d24-d0469cef8720","block_type":"box","text":"for the purpose of reducing dilution in the Funds.","page_number":6,"box":{"x":521,"y":601,"width":326,"height":10}},{"id":"84330b26-43fe-4199-9ff3-d2157e092845","block_type":"box","text":"The ACD reserves the right to make a dilution adjustment every","page_number":6,"box":{"x":521,"y":622,"width":421,"height":10}},{"id":"3c311514-e0e7-4d96-aba9-dfec41493978","block_type":"box","text":"day. The dilution adjustment is calculated using the estimated","page_number":6,"box":{"x":521,"y":636,"width":420,"height":10}},{"id":"875973c3-6529-4396-bb72-f373392d0d98","block_type":"box","text":"dealing costs of a sub-fund’s underlying investments and","page_number":6,"box":{"x":521,"y":650,"width":420,"height":10}},{"id":"057550eb-c00d-4d7b-8746-467522f92bfe","block_type":"box","text":"taking into consideration any dealing spreads, commission and","page_number":6,"box":{"x":521,"y":664,"width":420,"height":10}},{"id":"9de8878f-b415-4db5-904a-a4108412a89b","block_type":"box","text":"transfer taxes.","page_number":6,"box":{"x":521,"y":679,"width":96,"height":8}},{"id":"60868754-1025-4eb0-93f1-d1181b2bfb2d","block_type":"box","text":"The need to make a dilution adjustment will depend on the","page_number":6,"box":{"x":521,"y":700,"width":421,"height":10}},{"id":"64f5b9a9-b58a-42a3-b987-faa291411f03","block_type":"box","text":"difference between the net value of shares being acquired and","page_number":6,"box":{"x":521,"y":714,"width":420,"height":10}},{"id":"9acf5647-ca85-4994-abb7-886b730f8b18","block_type":"box","text":"the net value of shares being redeemed as a proportion of the","page_number":6,"box":{"x":521,"y":728,"width":421,"height":10}},{"id":"9db1aed2-43fe-46d0-9e89-de8dc30ca03a","block_type":"box","text":"total value of that Fund.","page_number":6,"box":{"x":521,"y":742,"width":157,"height":8}},{"id":"233076e8-b45f-458d-92d0-bfe42259907e","block_type":"box","text":"For historic swing factor percentages and frequency of","page_number":6,"box":{"x":522,"y":763,"width":421,"height":10}},{"id":"db6dc429-1e9a-4caf-9893-231d0d6d87d6","block_type":"box","text":"adjustments by sub-fund please refer to the Prospectus.","page_number":6,"box":{"x":521,"y":778,"width":377,"height":10}},{"id":"25f3ff4b-e43d-45a5-9cc2-7674761f6fe0","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":6,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"8a0910d9-1b49-44ed-a9db-8efec0465b35","block_type":"box","text":"6","page_number":6,"box":{"x":936,"y":33,"width":6,"height":6}},{"id":"6528e915-38a0-4bf9-a452-6451c21643a4","block_type":"box","text":"Summary of Significant Accounting Policies","page_number":7,"box":{"x":57,"y":94,"width":525,"height":14}},{"id":"1358abcd-2ed4-4f43-91fb-4071f2fbb1a1","block_type":"box","text":"(continued)","page_number":7,"box":{"x":588,"y":97,"width":74,"height":10}},{"id":"dca9a002-98f0-41fe-9cf5-561ea42c4b8f","block_type":"box","text":"For the six month period ended 30","page_number":7,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"169b6591-ddbc-4e23-8cff-8df5e9941915","block_type":"box","text":"June 2026","page_number":7,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"7f759816-8a8e-4de1-a69f-b02e964335f3","block_type":"box","text":"2. Distribution policies","page_number":7,"box":{"x":57,"y":151,"width":210,"height":11}},{"id":"240c857c-1127-46a9-b537-974095204add","block_type":"box","text":"Basis of distribution","page_number":7,"box":{"x":58,"y":173,"width":147,"height":8}},{"id":"27b2d494-ed2e-4a75-8891-16b45f34ac49","block_type":"box","text":"Revenue produced by the sub-funds’ investments accumulates","page_number":7,"box":{"x":58,"y":190,"width":419,"height":10}},{"id":"ec45d528-9ab4-4a08-80af-c4e8151ee210","block_type":"box","text":"during each accounting period. If at the end of the accounting","page_number":7,"box":{"x":57,"y":205,"width":420,"height":10}},{"id":"a7d89573-4284-4f81-9a5a-06c7e5a5e386","block_type":"box","text":"period, revenue exceeds expenses, the net revenue of each","page_number":7,"box":{"x":58,"y":219,"width":419,"height":10}},{"id":"74479432-1dae-48c2-ad70-bbb04f7992c5","block_type":"box","text":"sub-fund is available to be distributed, at share class level,","page_number":7,"box":{"x":57,"y":233,"width":420,"height":9}},{"id":"178777b1-e635-4108-b9a5-367d4db864fc","block_type":"box","text":"to shareholders.","page_number":7,"box":{"x":57,"y":247,"width":108,"height":8}},{"id":"9cc8c071-d21e-4502-816e-6cb971cc420e","block_type":"box","text":"All nine sub-funds make distributions on a half yearly basis.","page_number":7,"box":{"x":57,"y":268,"width":400,"height":10}},{"id":"96c81a59-edd6-47b0-89e2-246fdf7b3e58","block_type":"box","text":"All sub-funds make dividend distributions except for the Royal","page_number":7,"box":{"x":57,"y":289,"width":420,"height":10}},{"id":"7ca5c981-0a73-427d-8b4a-298b5d015355","block_type":"box","text":"London GMAP Diversified Bond Fund and Royal London Multi","page_number":7,"box":{"x":58,"y":304,"width":419,"height":10}},{"id":"e7443c62-5299-4446-9529-c77f931d2028","block_type":"box","text":"Asset Strategies Fund, which pay out available income in the","page_number":7,"box":{"x":57,"y":318,"width":420,"height":10}},{"id":"69b1f96f-c46b-4c1a-a7cb-cb7c652b3f19","block_type":"box","text":"form of interest distributions.","page_number":7,"box":{"x":57,"y":332,"width":191,"height":8}},{"id":"9c265948-1671-4622-a285-82ca487d7d4c","block_type":"box","text":"Apportionment to multiple share classes","page_number":7,"box":{"x":57,"y":357,"width":298,"height":9}},{"id":"ec898c49-500d-4e6c-baab-4ef1c3f398fe","block_type":"box","text":"The allocation of revenue and expenses to each share class","page_number":7,"box":{"x":57,"y":374,"width":420,"height":10}},{"id":"e12731b8-9081-4259-9233-329342210593","block_type":"box","text":"is based on the proportion of the sub-funds assets attributable","page_number":7,"box":{"x":58,"y":388,"width":419,"height":10}},{"id":"9b76e362-a3fb-4667-968f-6c672d2282bd","block_type":"box","text":"to each share class on the day the revenue is earned or the","page_number":7,"box":{"x":57,"y":403,"width":420,"height":10}},{"id":"d80e808a-8631-4d9b-b639-956801d7bcda","block_type":"box","text":"expense is suffered. The ACD’s fixed Fund Management Fee","page_number":7,"box":{"x":57,"y":417,"width":420,"height":10}},{"id":"6d7a0a49-8cb4-4f8c-a77c-a6c7be4887f6","block_type":"box","text":"is specific to each share class.","page_number":7,"box":{"x":58,"y":431,"width":204,"height":10}},{"id":"65d005f8-b0a9-40aa-a1b8-e5279173abb0","block_type":"box","text":"Expenses","page_number":7,"box":{"x":58,"y":456,"width":70,"height":9}},{"id":"49637b95-8b83-46f3-8b9a-2f9dd9b31e9c","block_type":"box","text":"In determining the net revenue available for distribution,","page_number":7,"box":{"x":58,"y":473,"width":419,"height":10}},{"id":"14aad30b-f321-4a64-850d-9178dc8ccf94","block_type":"box","text":"expenses related to the purchase and sale of investments","page_number":7,"box":{"x":57,"y":487,"width":420,"height":10}},{"id":"86a36696-4758-4444-98a0-6d2e2b88b037","block_type":"box","text":"are borne wholly by capital. All other expenses are borne by","page_number":7,"box":{"x":57,"y":502,"width":421,"height":10}},{"id":"394e7085-1c8e-447b-a982-0be1891df462","block_type":"box","text":"revenue on all the Funds.","page_number":7,"box":{"x":58,"y":516,"width":168,"height":8}},{"id":"39966f57-4096-452f-a58c-c155462e83b2","block_type":"box","text":"Equalisation","page_number":7,"box":{"x":58,"y":540,"width":89,"height":10}},{"id":"04ac1807-f462-44d6-adbb-af4effcc2db4","block_type":"box","text":"Equalisation applies only to shares purchased during the","page_number":7,"box":{"x":58,"y":558,"width":419,"height":10}},{"id":"f0bd6c1a-dbce-47da-bc81-94327c4c0a75","block_type":"box","text":"distribution period (Group","page_number":7,"box":{"x":57,"y":572,"width":173,"height":10}},{"id":"5522cc40-e903-4bec-9edd-ba2956761983","block_type":"box","text":"2 shares). It represents the accrued","page_number":7,"box":{"x":236,"y":572,"width":241,"height":10}},{"id":"71b20e67-bffa-4d8c-b594-d5be50f827c4","block_type":"box","text":"revenue included in the purchase price of the shares. After","page_number":7,"box":{"x":58,"y":586,"width":420,"height":10}},{"id":"90aa7ef9-14bd-4851-8038-bd6ee367f8b7","block_type":"box","text":"averaging it is returned with the distribution as a capital","page_number":7,"box":{"x":57,"y":601,"width":420,"height":10}},{"id":"e0e2ca99-aab6-4f54-9d4c-6ae64298ef39","block_type":"box","text":"repayment. It is not liable to Income Tax but must be deducted","page_number":7,"box":{"x":58,"y":615,"width":419,"height":10}},{"id":"a57f84b9-1aa8-4acf-9e29-01e90340a24d","block_type":"box","text":"from the cost of the shares for Capital Gains Tax purposes.","page_number":7,"box":{"x":57,"y":629,"width":398,"height":10}},{"id":"a399edc6-87c4-4124-909a-bebfeb0fe796","block_type":"box","text":"3. Risk management policies","page_number":7,"box":{"x":57,"y":656,"width":268,"height":11}},{"id":"1be859d5-4f5b-4ad2-a2f9-df9f55d826d2","block_type":"box","text":"In accordance with its investment objective, the Company","page_number":7,"box":{"x":58,"y":674,"width":420,"height":10}},{"id":"52a0afb6-4066-4c32-9196-eae7ea0dee9b","block_type":"box","text":"holds financial instruments such as equity collective investment","page_number":7,"box":{"x":58,"y":689,"width":420,"height":10}},{"id":"989d666a-757b-463d-a981-11b3d46a94a5","block_type":"box","text":"schemes, bond collective investment schemes, derivatives,","page_number":7,"box":{"x":57,"y":703,"width":420,"height":9}},{"id":"80bc850e-55c5-49bb-b6d0-ff83ddacc1f2","block_type":"box","text":"Exchange Traded Funds (ETFs) and short-term debtors","page_number":7,"box":{"x":58,"y":717,"width":419,"height":10}},{"id":"e3bcfaa4-afd7-4f02-926d-db20faacd8d8","block_type":"box","text":"and creditors.","page_number":7,"box":{"x":57,"y":732,"width":91,"height":7}},{"id":"5b5cfe69-d306-490e-b267-2e26f894a616","block_type":"box","text":"The risks arising from the Company’s financial instruments are","page_number":7,"box":{"x":57,"y":752,"width":420,"height":10}},{"id":"ea7b5b05-4ddd-47c0-a0d6-70d71af4aeda","block_type":"box","text":"summarised below.","page_number":7,"box":{"x":57,"y":767,"width":129,"height":8}},{"id":"752260bb-568d-495d-81e9-32a151d19e7a","block_type":"box","text":"Market and cash flow risk","page_number":7,"box":{"x":58,"y":794,"width":186,"height":8}},{"id":"eec83266-c208-41e4-8c2b-869c2c6e424a","block_type":"box","text":"Material exposure of the Company’s assets and liabilities to","page_number":7,"box":{"x":58,"y":812,"width":419,"height":10}},{"id":"370101f6-0a8c-4613-ad1f-dd2af1472334","block_type":"box","text":"interest bearing instruments results in the risk of changes in","page_number":7,"box":{"x":58,"y":826,"width":419,"height":10}},{"id":"c4f81195-5d39-49bc-b960-84897bfc41fc","block_type":"box","text":"market interest rates which, in addition to other market price","page_number":7,"box":{"x":58,"y":841,"width":419,"height":9}},{"id":"afea516f-edbf-425d-88d8-ba3a10878d8b","block_type":"box","text":"risk arising from the uncertainty of future prices, can cause the","page_number":7,"box":{"x":58,"y":855,"width":419,"height":10}},{"id":"92c94e98-ea58-45cb-8f6b-e8494912df74","block_type":"box","text":"value of financial instruments to fluctuate. This, in combination","page_number":7,"box":{"x":57,"y":869,"width":420,"height":9}},{"id":"20ea84e8-32d0-462c-ac39-33c20e2afdde","block_type":"box","text":"with variable cash flows, can potentially significantly affect the","page_number":7,"box":{"x":57,"y":883,"width":420,"height":10}},{"id":"9a42f28b-0df6-4d0a-84b1-5fa358c0ebbe","block_type":"box","text":"Balance Sheet and Statement of Total Return.","page_number":7,"box":{"x":58,"y":898,"width":308,"height":7}},{"id":"26883382-8f4f-41a7-8ac4-8770bbe1d61b","block_type":"box","text":"The ACD adheres to the investment guidelines and investment","page_number":7,"box":{"x":521,"y":151,"width":421,"height":10}},{"id":"0cf542fd-a845-48a3-8bf7-57d6990d38ff","block_type":"box","text":"and borrowing powers established in the Prospectus and in the","page_number":7,"box":{"x":521,"y":165,"width":421,"height":10}},{"id":"76b2681b-67e3-4103-be91-ad74085e4307","block_type":"box","text":"Rules governing the operations of ICVCs. In this way the ACD","page_number":7,"box":{"x":522,"y":180,"width":420,"height":10}},{"id":"564fe15e-75b6-4a9f-be61-66e13fd55cb9","block_type":"box","text":"monitors and controls the exposure to risk from any type of","page_number":7,"box":{"x":522,"y":194,"width":421,"height":10}},{"id":"4d130a81-f15c-4b97-b652-a6d939ca0aa4","block_type":"box","text":"security, market sector or individual issuer.","page_number":7,"box":{"x":521,"y":208,"width":286,"height":10}},{"id":"0d352bab-36cd-43a5-aebe-648c4c64bb1b","block_type":"box","text":"Credit and liquidity risk","page_number":7,"box":{"x":522,"y":232,"width":171,"height":10}},{"id":"c860b483-c0d7-41bc-9f39-6ad88a932ca3","block_type":"box","text":"Credit risk is the risk that one party to a financial instrument","page_number":7,"box":{"x":522,"y":250,"width":420,"height":10}},{"id":"45df12e1-523e-46c4-98a6-3f0b75db9f10","block_type":"box","text":"will cause a financial loss for the other party by failing to","page_number":7,"box":{"x":521,"y":264,"width":421,"height":10}},{"id":"d884085e-2d28-4022-abeb-36e02913d742","block_type":"box","text":"discharge an obligation. This includes counterparty and issuer","page_number":7,"box":{"x":521,"y":279,"width":422,"height":10}},{"id":"d4684bba-cfcb-497c-812f-f2d35834f45c","block_type":"box","text":"risk. Cash is held with reputable credit institutions and credit","page_number":7,"box":{"x":522,"y":293,"width":420,"height":10}},{"id":"d1ca2160-2f88-4da9-a5d4-821db24228bd","block_type":"box","text":"risk is assessed on a regular basis. Certain transactions","page_number":7,"box":{"x":522,"y":307,"width":420,"height":10}},{"id":"7c71f56f-12ef-42e8-acba-0366e6f6d8c9","block_type":"box","text":"in securities that the Company enters into expose it to the","page_number":7,"box":{"x":522,"y":321,"width":420,"height":10}},{"id":"4ba8672b-bcff-451f-8bcc-1fa6cbc50d48","block_type":"box","text":"risk that a counterparty will not deliver the investment for a","page_number":7,"box":{"x":522,"y":336,"width":420,"height":10}},{"id":"16160dc5-e856-4383-8dd5-f8d16871915a","block_type":"box","text":"purchase, or cash for a sale after the Company has fulfilled its","page_number":7,"box":{"x":522,"y":350,"width":420,"height":10}},{"id":"0cbd2afb-6b30-4baa-871d-3e96b64d5521","block_type":"box","text":"responsibilities. The Company only buys and sells investments","page_number":7,"box":{"x":522,"y":364,"width":420,"height":10}},{"id":"cdd71b28-c112-4f42-aac3-f6694f8ae024","block_type":"box","text":"through brokers which have been approved by the Manager","page_number":7,"box":{"x":521,"y":378,"width":422,"height":10}},{"id":"4bdae6e6-a979-4555-9960-65accfe02403","block_type":"box","text":"as an acceptable counterparty and these are reviewed on an","page_number":7,"box":{"x":521,"y":393,"width":420,"height":10}},{"id":"04d58876-983d-4557-91c7-687707356f7f","block_type":"box","text":"ongoing basis.","page_number":7,"box":{"x":521,"y":407,"width":97,"height":10}},{"id":"48a92c8b-4049-4306-9064-de7c783a6313","block_type":"box","text":"The Company’s assets comprise mainly readily available","page_number":7,"box":{"x":521,"y":428,"width":421,"height":10}},{"id":"691830b5-8d45-4aa4-903b-a09df050a9b1","block_type":"box","text":"realisable securities, which can be sold to meet funding","page_number":7,"box":{"x":522,"y":442,"width":419,"height":10}},{"id":"fa7c7893-31cc-4679-b0bb-bba4765f431d","block_type":"box","text":"requirements if and when necessary. The main liability of","page_number":7,"box":{"x":522,"y":456,"width":421,"height":10}},{"id":"c1776d8b-5750-4d58-a574-71771c98561b","block_type":"box","text":"the Company is the redemption of any shares that investors","page_number":7,"box":{"x":521,"y":471,"width":421,"height":10}},{"id":"51f2d209-5e08-4a81-a820-4fa1b5ea015c","block_type":"box","text":"wish to sell. Liquidity risk, mainly derived from the liability to","page_number":7,"box":{"x":521,"y":485,"width":421,"height":10}},{"id":"4e7a7880-22a8-4502-9542-3d1bb6b0f4e2","block_type":"box","text":"shareholders, is minimised through holding cash and readily","page_number":7,"box":{"x":521,"y":499,"width":421,"height":10}},{"id":"4e80e19f-ae7f-4521-9352-6225167c3f09","block_type":"box","text":"realisable securities which can meet the usual requirements of","page_number":7,"box":{"x":522,"y":513,"width":421,"height":10}},{"id":"f253dbb0-7205-47b3-b523-58bea074eabb","block_type":"box","text":"share redemptions.","page_number":7,"box":{"x":521,"y":528,"width":129,"height":9}},{"id":"f13ec980-33bd-47d4-adb6-fe333df6d9b9","block_type":"box","text":"It should be noted however, that with regards the Royal London","page_number":7,"box":{"x":522,"y":549,"width":419,"height":10}},{"id":"065ad9a6-aff9-4110-95a5-93e59a0597fd","block_type":"box","text":"Property Trust a three months advance notice of intention to","page_number":7,"box":{"x":522,"y":563,"width":420,"height":10}},{"id":"cf750c4e-902d-4b02-8829-f4bd8f9356eb","block_type":"box","text":"redeem is required. This notice can be waived at the ACD’s","page_number":7,"box":{"x":522,"y":577,"width":420,"height":10}},{"id":"63c28ffd-1acf-45d2-b7c9-878ccf2dedf4","block_type":"box","text":"discretion. The ACD has measures in place to manage","page_number":7,"box":{"x":521,"y":591,"width":421,"height":10}},{"id":"0c5ec074-b07d-4ab1-ac9d-04ba1cdb9479","block_type":"box","text":"their liquidity profiles in line with any anticipated redemption","page_number":7,"box":{"x":521,"y":606,"width":420,"height":10}},{"id":"64f6cb2a-1e43-4b91-aa56-14c72e1d117f","block_type":"box","text":"flows to mitigate any credit risk to the Fund. In exceptional","page_number":7,"box":{"x":521,"y":620,"width":420,"height":10}},{"id":"14fb88ea-ad62-4b4f-8507-6235fdbff702","block_type":"box","text":"circumstances resulting from market uncertainty, the ACD also","page_number":7,"box":{"x":522,"y":634,"width":420,"height":10}},{"id":"62306c52-7c65-4181-8d9f-0d9d79bd6b6b","block_type":"box","text":"has the right to suspend dealing in the Royal London Property","page_number":7,"box":{"x":522,"y":648,"width":420,"height":10}},{"id":"0e2404c6-f266-4e16-9760-19fd6c1dcc53","block_type":"box","text":"Trust. As mentioned above the liquidity risk associated to this","page_number":7,"box":{"x":521,"y":663,"width":421,"height":10}},{"id":"539a14d5-4bf9-4f37-aee6-f8ff49536d43","block_type":"box","text":"exceptional circumstance has been deemed insignificant.","page_number":7,"box":{"x":521,"y":677,"width":386,"height":10}},{"id":"05d46486-01ca-4bb1-847b-ee5760f0231f","block_type":"box","text":"Currency risk","page_number":7,"box":{"x":522,"y":701,"width":98,"height":10}},{"id":"b6524ed6-af80-402d-80ef-fcc0ffdcf05f","block_type":"box","text":"The value of the Company’s investments may be affected","page_number":7,"box":{"x":521,"y":719,"width":420,"height":10}},{"id":"b513563d-1617-4173-8d8c-84ddcfd9c093","block_type":"box","text":"by currency movements since a proportion of the assets are","page_number":7,"box":{"x":522,"y":733,"width":420,"height":10}},{"id":"39a73d89-1d3a-4a83-925c-db7316f6b1e3","block_type":"box","text":"denominated in currencies other than sterling. The ACD may,","page_number":7,"box":{"x":521,"y":747,"width":420,"height":10}},{"id":"6df9d7cc-10e4-4c40-ab92-c7e708003bcb","block_type":"box","text":"from time to time, seek to mitigate the effect of these currency","page_number":7,"box":{"x":521,"y":762,"width":421,"height":10}},{"id":"94472b72-8bd9-42ac-b7a7-0e08352bdbd6","block_type":"box","text":"exposures by covering a proportion of its investments using","page_number":7,"box":{"x":521,"y":776,"width":420,"height":10}},{"id":"006ff834-ac5f-4fd7-bf49-25402afb1049","block_type":"box","text":"forward currency hedges. The risk of currency movements on","page_number":7,"box":{"x":521,"y":790,"width":420,"height":10}},{"id":"17b4ea6b-a62d-4099-b1d0-d2044892f9ed","block_type":"box","text":"the income property of the Company is minimised by converting","page_number":7,"box":{"x":521,"y":804,"width":420,"height":10}},{"id":"5320f7df-4fe3-4cc4-9498-8f99c69339d0","block_type":"box","text":"income received in foreign currency into sterling on the date","page_number":7,"box":{"x":522,"y":819,"width":420,"height":10}},{"id":"67d02418-76d6-4eda-a73e-805c78b4a54f","block_type":"box","text":"of transaction.","page_number":7,"box":{"x":521,"y":833,"width":95,"height":8}},{"id":"bbb9d333-46f9-4709-b729-dc9043eed8b1","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":7,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"8f2adecb-9b04-4449-8a11-b7634daec946","block_type":"box","text":"7","page_number":7,"box":{"x":936,"y":33,"width":6,"height":6}},{"id":"09394071-6b0b-477e-a81e-28ec032ecc7b","block_type":"box","text":"3. Risk management policies – continued","page_number":8,"box":{"x":57,"y":151,"width":380,"height":11}},{"id":"521244ff-3b1c-42e0-8aff-63fe447ee91a","block_type":"box","text":"Interest rate risk","page_number":8,"box":{"x":58,"y":173,"width":119,"height":8}},{"id":"9c5af228-47e2-4dd3-af6c-0524deaf1aee","block_type":"box","text":"The Company has an indirect exposure to interest rate risk. It","page_number":8,"box":{"x":57,"y":190,"width":421,"height":10}},{"id":"23be9669-6951-4b39-b0f5-38426ae8d9b5","block_type":"box","text":"invests predominantly in bond collective investment schemes","page_number":8,"box":{"x":58,"y":205,"width":419,"height":10}},{"id":"ccbbbb3a-610e-42b5-a9d1-c06192a25163","block_type":"box","text":"which subsequently invest in fixed and variable interest rate","page_number":8,"box":{"x":57,"y":219,"width":420,"height":10}},{"id":"1d1a498e-1c48-478f-9feb-7a7c77e47cb5","block_type":"box","text":"securities. There is also a small interest risk exposure on other","page_number":8,"box":{"x":57,"y":233,"width":421,"height":10}},{"id":"c7a8bfe9-4042-4c92-99b1-8ee07a3f10ed","block_type":"box","text":"fixed interest securities held by the Company. Any changes","page_number":8,"box":{"x":57,"y":247,"width":421,"height":10}},{"id":"e3be2a8a-3648-4cbb-bb6b-7a9800745ddb","block_type":"box","text":"to interest rates relevant for particular securities may result in","page_number":8,"box":{"x":57,"y":262,"width":420,"height":10}},{"id":"d5280349-d880-41ed-9938-ea0c80888729","block_type":"box","text":"either revenue increasing or decreasing.","page_number":8,"box":{"x":57,"y":276,"width":271,"height":10}},{"id":"03c89820-0851-4c2b-9938-a88aeeeaa908","block_type":"box","text":"In general, if interest rates rise the revenue potential of the","page_number":8,"box":{"x":58,"y":297,"width":419,"height":10}},{"id":"3b391572-e1cf-4564-8e2a-821336b83268","block_type":"box","text":"Company also rises but the value of fixed interest securities","page_number":8,"box":{"x":57,"y":311,"width":420,"height":10}},{"id":"9f81a8a6-1613-4f7a-87fd-185a127390f3","block_type":"box","text":"may decline. A fall in interest rates will, in general, have the","page_number":8,"box":{"x":58,"y":325,"width":419,"height":10}},{"id":"c2796081-771d-4b1b-a6a7-9d35898ae922","block_type":"box","text":"opposite effect.","page_number":8,"box":{"x":57,"y":340,"width":103,"height":10}},{"id":"93b3f68d-35c0-4216-bb21-a982b7b7a729","block_type":"box","text":"Interest rate risk also applies to balances held at the bank as","page_number":8,"box":{"x":58,"y":361,"width":419,"height":10}},{"id":"1ca90a12-c70b-4ac5-a6c3-fbc30a37c2af","block_type":"box","text":"disclosed in the balance sheet. Changes to the rate of interest","page_number":8,"box":{"x":57,"y":375,"width":421,"height":10}},{"id":"d09ee3e5-24d6-4072-844e-22179d925cda","block_type":"box","text":"applied on the underlying balances will affect the Company","page_number":8,"box":{"x":57,"y":389,"width":421,"height":10}},{"id":"925cc1db-b1ea-4223-bfd3-b8ba2f2526b7","block_type":"box","text":"accordingly.","page_number":8,"box":{"x":57,"y":403,"width":80,"height":10}},{"id":"6bb9a100-c2e3-479d-9425-0b91c6fee626","block_type":"box","text":"All cash balances earn interest at a variable rate.","page_number":8,"box":{"x":57,"y":424,"width":329,"height":8}},{"id":"1b976374-9a89-44ce-a8b0-017250e13b74","block_type":"box","text":"Derivatives risk","page_number":8,"box":{"x":58,"y":449,"width":113,"height":8}},{"id":"88022645-8a76-4b53-be9e-197a23671b58","block_type":"box","text":"The ACD may employ derivatives for investment purposes and","page_number":8,"box":{"x":57,"y":466,"width":420,"height":10}},{"id":"6ee27ffd-10a7-42a9-aa91-1d664babb48c","block_type":"box","text":"for efficient portfolio management (EPM). All derivative trading","page_number":8,"box":{"x":57,"y":481,"width":420,"height":10}},{"id":"2dafce97-4f1c-4c2e-8427-2089a3ee8395","block_type":"box","text":"is in the form of instruments listed on a regulated exchange. The","page_number":8,"box":{"x":58,"y":495,"width":419,"height":10}},{"id":"9d7082c2-d319-4387-a74f-73e2cbe65d63","block_type":"box","text":"Funds may make use of EPM techniques to reduce risk and/or","page_number":8,"box":{"x":58,"y":509,"width":420,"height":10}},{"id":"389072c5-9725-4143-995c-bd150f531cf9","block_type":"box","text":"costs in the Fund and to produce additional capital or income in","page_number":8,"box":{"x":57,"y":523,"width":420,"height":10}},{"id":"70de5e14-1af1-4d5c-9eda-fc131ab2027e","block_type":"box","text":"the Funds in a manner which is economically appropriate and","page_number":8,"box":{"x":57,"y":538,"width":420,"height":10}},{"id":"4f62ec61-e589-416c-9d2d-cf4b82db1379","block_type":"box","text":"with an acceptable level of risk.","page_number":8,"box":{"x":57,"y":552,"width":210,"height":10}},{"id":"eaed8a6b-d5b5-46a8-88fc-5b7bbaf65cf2","block_type":"box","text":"Techniques used by the Fund may include using derivatives","page_number":8,"box":{"x":57,"y":573,"width":421,"height":10}},{"id":"7a1c2537-2f20-4e25-a897-1e3a6d5ac288","block_type":"box","text":"for hedging against price or currency fluctuations, engaging","page_number":8,"box":{"x":57,"y":587,"width":420,"height":10}},{"id":"a1b4974c-2e85-44a9-8b91-fcc6963fb0aa","block_type":"box","text":"in securities lending and reverse repurchase transactions.","page_number":8,"box":{"x":58,"y":601,"width":419,"height":10}},{"id":"a6252c62-2fbe-4f1f-98e8-0cbbba2b9ce6","block_type":"box","text":"EPM techniques may involve a Fund entering into derivative","page_number":8,"box":{"x":58,"y":616,"width":419,"height":10}},{"id":"87c86391-cc4d-40a6-ab23-467140fdaf41","block_type":"box","text":"transactions or securities lending transactions with a","page_number":8,"box":{"x":57,"y":630,"width":420,"height":10}},{"id":"caadecaa-a89e-48af-aec2-47a8f4ff9605","block_type":"box","text":"counterparty. There maybe a risk that a counterparty will","page_number":8,"box":{"x":57,"y":644,"width":420,"height":10}},{"id":"489b6e08-bd8d-4857-81c6-41ec1b96c869","block_type":"box","text":"wholly or partially fail to honour its contractual obligations. To","page_number":8,"box":{"x":57,"y":658,"width":421,"height":10}},{"id":"e812cbe7-7733-4d50-bf01-78d6a1e58bb2","block_type":"box","text":"mitigate that risk, the counterparties to these transactions may","page_number":8,"box":{"x":58,"y":673,"width":420,"height":10}},{"id":"6b7bd789-6910-4312-bf2e-a67b3552fc3a","block_type":"box","text":"be required to provide collateral to the Fund. The ACD has","page_number":8,"box":{"x":58,"y":687,"width":419,"height":10}},{"id":"ff55f512-2ee0-4213-bbfd-fe67f6d381ef","block_type":"box","text":"a collateral management policy which details the provisions","page_number":8,"box":{"x":57,"y":701,"width":420,"height":10}},{"id":"584dc241-cac6-40b8-96d0-b896bc68e201","block_type":"box","text":"which are in place to reduce this risk.","page_number":8,"box":{"x":57,"y":715,"width":249,"height":10}},{"id":"4c8fcf96-1d4d-440b-933b-2528ee359203","block_type":"box","text":"The use of derivatives and forward transactions for investment","page_number":8,"box":{"x":57,"y":736,"width":421,"height":8}},{"id":"de042ab8-43c7-479b-93fc-f8ba13eacc67","block_type":"box","text":"purposes may from time to time expose the Fund to volatile","page_number":8,"box":{"x":58,"y":751,"width":419,"height":10}},{"id":"64bc3e59-87c8-487b-8c3e-e4185c38947c","block_type":"box","text":"investment returns. Investing in derivatives does carry the risk","page_number":8,"box":{"x":58,"y":765,"width":420,"height":10}},{"id":"25d8ba3f-f56c-49b3-a546-b7f9f70283eb","block_type":"box","text":"of reduced liquidity, substantial loss and increased volatility in","page_number":8,"box":{"x":57,"y":779,"width":420,"height":10}},{"id":"492e8a0c-bbee-43f1-887c-1dc24b670417","block_type":"box","text":"adverse market conditions.","page_number":8,"box":{"x":57,"y":794,"width":181,"height":7}},{"id":"f38c1df9-9ed6-40a0-89c4-c5617009457c","block_type":"box","text":"Other risks","page_number":8,"box":{"x":522,"y":151,"width":80,"height":8}},{"id":"585336b6-a021-4c53-b4dd-8f07210e2ff5","block_type":"box","text":"Potential implications of an epidemic and/or a pandemic","page_number":8,"box":{"x":522,"y":169,"width":410,"height":10}},{"id":"a5acfef6-853a-466c-b1ea-33724d30884a","block_type":"box","text":"Epidemics and pandemics such as COVID-19, can seriously","page_number":8,"box":{"x":522,"y":186,"width":420,"height":10}},{"id":"76814f89-76ea-43ea-91d0-8a1ad0ad5a0e","block_type":"box","text":"disrupt the global economy and markets. Pandemics and","page_number":8,"box":{"x":521,"y":201,"width":420,"height":10}},{"id":"9226c941-d36b-4fd8-98d0-f3f87e033536","block_type":"box","text":"similar events could also have an acute effect on individual","page_number":8,"box":{"x":521,"y":215,"width":420,"height":8}},{"id":"bfbe0bad-c49e-4d13-9e3c-1a3e572d99ea","block_type":"box","text":"issuers or related groups of issuers and could adversely affect","page_number":8,"box":{"x":522,"y":229,"width":420,"height":10}},{"id":"f294f69d-e21e-4ff5-8758-92fe7cc26ec6","block_type":"box","text":"securities markets, interest rates, auctions, secondary trading,","page_number":8,"box":{"x":521,"y":243,"width":420,"height":10}},{"id":"c68f63b0-68d1-4c4a-b2a5-74e10e872508","block_type":"box","text":"ratings, credit risk, inflation, deflation and other factors relating","page_number":8,"box":{"x":522,"y":258,"width":419,"height":10}},{"id":"f42a21eb-50fb-4f4f-979a-45ececfd8f26","block_type":"box","text":"to a Fund’s investments or the ACD’s operations and the","page_number":8,"box":{"x":521,"y":272,"width":421,"height":10}},{"id":"489c2ce4-efa1-4e87-8f22-060247a13b18","block_type":"box","text":"operations of the ACD’s and the Company’s service providers.","page_number":8,"box":{"x":521,"y":286,"width":419,"height":10}},{"id":"305a239e-aaae-468d-a831-f16156150f1a","block_type":"box","text":"Political risk","page_number":8,"box":{"x":522,"y":307,"width":90,"height":8}},{"id":"02702144-8d61-4514-9a6f-aeb94c4fa840","block_type":"box","text":"The value of the assets of a Fund may be affected by","page_number":8,"box":{"x":521,"y":325,"width":421,"height":10}},{"id":"fe4121eb-0a1d-4638-a54f-e457003ea3b2","block_type":"box","text":"uncertainties such as international political developments,","page_number":8,"box":{"x":522,"y":339,"width":419,"height":10}},{"id":"c9508499-8b90-4d85-80d9-f93bf3fa8855","block_type":"box","text":"changes in government policies, taxation, restrictions on foreign","page_number":8,"box":{"x":522,"y":353,"width":419,"height":10}},{"id":"11856f44-378b-4c02-98a4-d709d0896390","block_type":"box","text":"investment and currency repatriation, and other developments","page_number":8,"box":{"x":522,"y":368,"width":420,"height":9}},{"id":"90f28590-3a94-43ad-bb45-22c055c2ff30","block_type":"box","text":"in applicable laws and regulations. The Investment Manager","page_number":8,"box":{"x":522,"y":382,"width":421,"height":10}},{"id":"a9297fed-8a07-4a33-968d-29708ec98d38","block_type":"box","text":"is closely monitoring the current geopolitical risks, including","page_number":8,"box":{"x":522,"y":396,"width":419,"height":10}},{"id":"c95c237b-daf7-46d3-993c-040327a443ef","block_type":"box","text":"those arising from the continuing conflict in the Ukraine and","page_number":8,"box":{"x":521,"y":410,"width":420,"height":10}},{"id":"13fef2b8-9e1c-4646-8fcc-9c494653db8e","block_type":"box","text":"the Middle East.","page_number":8,"box":{"x":521,"y":425,"width":108,"height":7}},{"id":"c21f4c0e-21b0-42a6-837a-7585791515b2","block_type":"box","text":"4. Cross holdings","page_number":8,"box":{"x":521,"y":451,"width":160,"height":11}},{"id":"be2b5233-0850-4a3e-b522-bf1102229b92","block_type":"box","text":"Cross holdings of sub-funds is permitted.","page_number":8,"box":{"x":522,"y":470,"width":276,"height":10}},{"id":"5febd2e6-1657-430c-a1dd-1c517c659d12","block_type":"box","text":"There are no cross holdings within the Royal London Multi","page_number":8,"box":{"x":521,"y":491,"width":421,"height":10}},{"id":"10121622-627b-47c9-b347-2b0e5b157f62","block_type":"box","text":"Asset Funds ICVC.","page_number":8,"box":{"x":521,"y":505,"width":127,"height":8}},{"id":"524a9ea5-d5b6-47d7-a7a8-785c21682d55","block_type":"box","text":"Summary of Significant Accounting Policies","page_number":8,"box":{"x":57,"y":94,"width":525,"height":14}},{"id":"b430043b-9635-4a12-8d8c-2b6110e8e1f7","block_type":"box","text":"(continued)","page_number":8,"box":{"x":588,"y":97,"width":74,"height":10}},{"id":"4e7fa923-e804-4bdb-99cf-e286810a6c51","block_type":"box","text":"For the six month period ended 30","page_number":8,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"586001be-c490-47e3-8349-99f31f74d358","block_type":"box","text":"June 2026","page_number":8,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"5b5fa7da-6643-4354-b312-80584f7fd1bf","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":8,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"5741eac2-2723-489b-bf60-081a807d5da4","block_type":"box","text":"8","page_number":8,"box":{"x":936,"y":33,"width":6,"height":6}},{"id":"c21eb6fd-3497-44fd-8a33-d6c525960329","block_type":"box","text":"Manager’s Investment Report","page_number":9,"box":{"x":58,"y":151,"width":352,"height":14}},{"id":"3df36045-8fc5-4a5c-b680-f447bd0e7d2f","block_type":"box","text":"Cumulative Performance","page_number":9,"box":{"x":57,"y":181,"width":230,"height":9}},{"id":"170fda2b-a1bd-4747-9324-ab039b48a505","block_type":"box","text":"(% change to 30/06/26)","page_number":9,"box":{"x":57,"y":203,"width":164,"height":10}},{"id":"48ccf441-fe80-49d5-b56e-b71c27e41e2f","block_type":"box","text":"6 month","page_number":9,"box":{"x":242,"y":231,"width":46,"height":6}},{"id":"370bbc60-c363-4d4f-a9f0-1ee04a882977","block_type":"box","text":"total","page_number":9,"box":{"x":263,"y":241,"width":25,"height":6}},{"id":"b5e380b5-8c50-47c2-8ca1-12a98dc9d68b","block_type":"box","text":"return","page_number":9,"box":{"x":254,"y":250,"width":34,"height":6}},{"id":"b8d63f00-77ee-4b42-875f-725c1118817b","block_type":"box","text":"%","page_number":9,"box":{"x":279,"y":260,"width":9,"height":6}},{"id":"15bd6fc6-8fcd-4154-b141-16bd80c5fd68","block_type":"box","text":"1 year","page_number":9,"box":{"x":316,"y":231,"width":34,"height":8}},{"id":"cb11ca80-7c60-4aae-9ed1-c307c6386ddb","block_type":"box","text":"total","page_number":9,"box":{"x":324,"y":241,"width":25,"height":6}},{"id":"e190e706-596d-442b-8303-0f6b25b18345","block_type":"box","text":"return","page_number":9,"box":{"x":315,"y":250,"width":34,"height":6}},{"id":"c492e8db-1d1b-4b69-973d-e6e48fad47a8","block_type":"box","text":"%","page_number":9,"box":{"x":340,"y":260,"width":9,"height":6}},{"id":"aaefbc1f-6861-45a0-8d2f-8b5abf762362","block_type":"box","text":"3 year","page_number":9,"box":{"x":376,"y":231,"width":34,"height":8}},{"id":"8ebf6e6d-66f9-4a42-8009-29acdee46735","block_type":"box","text":"total","page_number":9,"box":{"x":385,"y":241,"width":24,"height":6}},{"id":"ab650116-e796-470a-a992-d4c4fd524682","block_type":"box","text":"return","page_number":9,"box":{"x":376,"y":250,"width":33,"height":6}},{"id":"2ba3c9bd-5eb2-47c0-9595-b77d79b7c801","block_type":"box","text":"%","page_number":9,"box":{"x":400,"y":260,"width":10,"height":6}},{"id":"2685f129-c398-4dea-b884-1cf3af8306f7","block_type":"box","text":"5 year","page_number":9,"box":{"x":437,"y":231,"width":34,"height":8}},{"id":"8fa71d84-bb9f-47e2-af30-6970157c63b7","block_type":"box","text":"total","page_number":9,"box":{"x":445,"y":241,"width":25,"height":6}},{"id":"64b1fc24-54ff-40d1-acfa-85a46b8f368a","block_type":"box","text":"return","page_number":9,"box":{"x":436,"y":250,"width":34,"height":6}},{"id":"641e1845-d511-4913-8d5d-210b76dec7ba","block_type":"box","text":"%","page_number":9,"box":{"x":461,"y":260,"width":9,"height":6}},{"id":"18557e0c-a574-4fa9-8dbc-69e6b49f6c90","block_type":"box","text":"Royal London GMAP","page_number":9,"box":{"x":58,"y":279,"width":111,"height":8}},{"id":"25c09c22-ead0-4af1-942c-36aba34d7612","block_type":"box","text":"Diversified Bond Fund,","page_number":9,"box":{"x":58,"y":289,"width":120,"height":7}},{"id":"d5a1d553-cb71-4a72-a7a7-3f5d11ef67ba","block_type":"box","text":"Class M Accumulation","page_number":9,"box":{"x":57,"y":298,"width":118,"height":7}},{"id":"90b2b914-06a9-4c5c-a9f1-f8de0b2256e4","block_type":"box","text":"1.21","page_number":9,"box":{"x":267,"y":280,"width":20,"height":6}},{"id":"11569bf3-0e8f-46a2-9ca3-c6eade465bb3","block_type":"box","text":"3.54","page_number":9,"box":{"x":326,"y":280,"width":23,"height":6}},{"id":"872a39e9-d75b-4487-b70d-4ad689f71a4f","block_type":"box","text":"12.19","page_number":9,"box":{"x":383,"y":280,"width":27,"height":6}},{"id":"bd58558b-19b0-4f0a-9000-c2c197c3b579","block_type":"box","text":"-2.75","page_number":9,"box":{"x":444,"y":280,"width":26,"height":6}},{"id":"93d6e06d-09c8-492e-a952-67e9a638e70c","block_type":"box","text":"Royal London GMAP","page_number":9,"box":{"x":58,"y":318,"width":111,"height":8}},{"id":"d4f77970-e07b-48a0-833e-1a53f2619acd","block_type":"box","text":"Diversified Bond Fund,","page_number":9,"box":{"x":58,"y":327,"width":120,"height":8}},{"id":"7b6f85e3-c4c3-41cf-97fc-e10b04ca5b7b","block_type":"box","text":"Class M Income","page_number":9,"box":{"x":57,"y":337,"width":85,"height":6}},{"id":"b7e45206-1039-402c-a3cf-a615a486b4c0","block_type":"box","text":"1.15","page_number":9,"box":{"x":269,"y":318,"width":19,"height":6}},{"id":"e370ae85-952e-4051-87eb-d13477da401f","block_type":"box","text":"3.51","page_number":9,"box":{"x":327,"y":318,"width":20,"height":6}},{"id":"92028366-e784-4c43-a1f1-a87d5b1a2f32","block_type":"box","text":"12.15","page_number":9,"box":{"x":383,"y":318,"width":27,"height":6}},{"id":"685d5c33-ef99-4a2f-a7b2-53e927b9cafe","block_type":"box","text":"-2.82","page_number":9,"box":{"x":444,"y":318,"width":26,"height":6}},{"id":"927253aa-7306-4652-8aae-7ca540850702","block_type":"box","text":"Royal London GMAP","page_number":9,"box":{"x":58,"y":357,"width":111,"height":7}},{"id":"0c820ddb-d6bb-4b1c-955e-55c8b7c100be","block_type":"box","text":"Diversified Bond Fund,","page_number":9,"box":{"x":58,"y":366,"width":120,"height":7}},{"id":"c8b607a5-5a0a-4cfb-82ee-4aa5b520d6b2","block_type":"box","text":"Class P Accumulation","page_number":9,"box":{"x":57,"y":376,"width":116,"height":6}},{"id":"520b8063-6393-494b-862e-7d85da417b5b","block_type":"box","text":"1.15","page_number":9,"box":{"x":269,"y":357,"width":19,"height":6}},{"id":"f636792e-2642-435f-a44d-94b29b9c0f8c","block_type":"box","text":"3.54","page_number":9,"box":{"x":326,"y":357,"width":23,"height":6}},{"id":"2dfc9437-77eb-4299-a1ff-5e0de3297c81","block_type":"box","text":"12.27","page_number":9,"box":{"x":382,"y":357,"width":28,"height":6}},{"id":"0ea5e7fd-5579-4cc8-aeae-4ca1df8c1c1d","block_type":"box","text":"-2.50","page_number":9,"box":{"x":444,"y":357,"width":26,"height":6}},{"id":"127f5f5c-6df7-4fca-8648-2947b74e3dea","block_type":"box","text":"Royal London GMAP","page_number":9,"box":{"x":58,"y":395,"width":111,"height":8}},{"id":"86d36bd6-b4a3-4ce0-bba6-887b83d738ea","block_type":"box","text":"Diversified Bond Fund,","page_number":9,"box":{"x":58,"y":405,"width":120,"height":7}},{"id":"34c10ee9-5953-4100-b3d0-ce899a84bf29","block_type":"box","text":"Class R Accumulation","page_number":9,"box":{"x":57,"y":414,"width":117,"height":6}},{"id":"bb42e7a8-d397-43a6-9c05-2a71267d02ea","block_type":"box","text":"1.35","page_number":9,"box":{"x":267,"y":395,"width":21,"height":6}},{"id":"5a75aaaa-1f45-4a72-955b-3c7b1285b964","block_type":"box","text":"3.97","page_number":9,"box":{"x":327,"y":395,"width":22,"height":6}},{"id":"24a1e75d-67ed-48ca-bce1-1ca32c8fd256","block_type":"box","text":"13.69","page_number":9,"box":{"x":382,"y":395,"width":28,"height":6}},{"id":"15bf7eb2-b927-4d54-9b68-4484877dabff","block_type":"box","text":"-0.53","page_number":9,"box":{"x":443,"y":395,"width":27,"height":6}},{"id":"b06ca845-d0fc-4e40-988e-b9399fed178d","block_type":"box","text":"Royal London GMAP","page_number":9,"box":{"x":58,"y":434,"width":111,"height":7}},{"id":"7cfd0466-feb7-4530-ba6e-2051467f2a6b","block_type":"box","text":"Diversified Bond Fund,","page_number":9,"box":{"x":58,"y":443,"width":120,"height":7}},{"id":"d22f3519-5772-47ac-860e-12564a90b7ec","block_type":"box","text":"Class Z Accumulation","page_number":9,"box":{"x":57,"y":453,"width":115,"height":6}},{"id":"997c31fe-fbcf-43ec-8453-cb0a43e342d9","block_type":"box","text":"1.30","page_number":9,"box":{"x":267,"y":434,"width":21,"height":6}},{"id":"4c12b0b9-7e12-49f4-b7e2-1542bb4de40f","block_type":"box","text":"3.71","page_number":9,"box":{"x":327,"y":434,"width":20,"height":6}},{"id":"b410728d-1911-4594-a3e8-c576e2ffb129","block_type":"box","text":"12.78","page_number":9,"box":{"x":382,"y":434,"width":28,"height":6}},{"id":"ac2c9951-3807-44ce-9a1b-bcc4ac4930d9","block_type":"box","text":"–","page_number":9,"box":{"x":464,"y":437,"width":7,"height":1}},{"id":"d39a41e9-bfb0-451c-9055-0b018225dcb6","block_type":"box","text":"IA Sterling Strategic Bond Total","page_number":9,"box":{"x":58,"y":472,"width":166,"height":8}},{"id":"fd909112-3e25-4682-9c49-e12f37b2a2e4","block_type":"box","text":"Return (TR)*","page_number":9,"box":{"x":58,"y":482,"width":66,"height":7}},{"id":"29ccbfc2-bfa9-4d84-a1e0-4c8903244807","block_type":"box","text":"0.63","page_number":9,"box":{"x":266,"y":472,"width":22,"height":6}},{"id":"7629bee8-d2cd-42fd-822e-30bf9be446cc","block_type":"box","text":"3.24","page_number":9,"box":{"x":326,"y":472,"width":23,"height":6}},{"id":"a46f8974-ee23-455f-a3a0-282ddf34ae9b","block_type":"box","text":"15.16","page_number":9,"box":{"x":383,"y":472,"width":27,"height":6}},{"id":"e3f3e3e8-8d8e-4bab-b21f-b25f08c4dc13","block_type":"box","text":"-8.03","page_number":9,"box":{"x":443,"y":472,"width":27,"height":6}},{"id":"4527a23e-5a2d-40a9-a79f-354c8fc07645","block_type":"box","text":"* Benchmark","page_number":9,"box":{"x":57,"y":509,"width":69,"height":7}},{"id":"c944bb0d-12d3-4f76-89a1-8c03e3030d5e","block_type":"box","text":"Class Z Accumulation launched on 31 January 2023.","page_number":9,"box":{"x":57,"y":523,"width":280,"height":8}},{"id":"1e5ed4f5-4055-4dd4-907d-9bd8e0b9dcd8","block_type":"box","text":"Past performance is not necessarily a reliable indicator","page_number":9,"box":{"x":58,"y":543,"width":420,"height":10}},{"id":"fc045df6-3948-4374-89de-c7bd60c04123","block_type":"box","text":"of future performance. The value of investments and the","page_number":9,"box":{"x":57,"y":557,"width":420,"height":10}},{"id":"f6dfc34b-678e-45f5-91ae-1e7b14d4c1e6","block_type":"box","text":"income from them is not guaranteed and may go down","page_number":9,"box":{"x":58,"y":571,"width":419,"height":10}},{"id":"782620ac-ef47-478f-9168-ef6d6b8e8536","block_type":"box","text":"as well as up and investors may not get back the amount","page_number":9,"box":{"x":57,"y":586,"width":421,"height":10}},{"id":"93f985f8-fdf7-46e4-ab71-3c46343d2a61","block_type":"box","text":"originally invested.","page_number":9,"box":{"x":57,"y":600,"width":138,"height":10}},{"id":"62d6a708-8b05-4422-b07e-f0f529341135","block_type":"box","text":"Source: Royal London Asset Management Limited and","page_number":9,"box":{"x":57,"y":621,"width":420,"height":10}},{"id":"c813aab8-5b44-4191-93cd-9248920cdc01","block_type":"box","text":"Morningstar, as at 30","page_number":9,"box":{"x":58,"y":635,"width":165,"height":10}},{"id":"2dd6df4a-d059-4232-89d5-a5b8aa38810c","block_type":"box","text":"June 2026. Returns are net of","page_number":9,"box":{"x":237,"y":635,"width":242,"height":8}},{"id":"1148d768-5593-4829-91e2-f91d1dc887c8","block_type":"box","text":"management fees. Investors should also note that the total","page_number":9,"box":{"x":58,"y":649,"width":419,"height":10}},{"id":"0693ed7a-5414-4544-8baa-344edc8886fd","block_type":"box","text":"return is calculated on the Fund’s official 2pm price whereas the","page_number":9,"box":{"x":58,"y":663,"width":419,"height":10}},{"id":"a17fafcd-051b-4908-bf25-0d164ac4f04f","block_type":"box","text":"Fund has been valued as at close of business for the Closing","page_number":9,"box":{"x":58,"y":678,"width":419,"height":10}},{"id":"7ea8ba0c-3b42-4094-8869-a4235374c869","block_type":"box","text":"Net Asset Value quoted within the Comparative Table. For","page_number":9,"box":{"x":58,"y":692,"width":420,"height":10}},{"id":"331f5d85-283a-4f16-8225-ff5d77031ce8","block_type":"box","text":"further information, including ongoing performance and Fund","page_number":9,"box":{"x":57,"y":706,"width":420,"height":10}},{"id":"fdf01199-d2d0-4231-954d-04a176123ca7","block_type":"box","text":"breakdown information, please refer to the latest factsheet at","page_number":9,"box":{"x":58,"y":721,"width":420,"height":9}},{"id":"3c726e90-214b-4288-b7c0-d976fd935f1d","block_type":"box","text":"www.rlam.com.","page_number":9,"box":{"x":57,"y":735,"width":103,"height":8}},{"id":"91033148-4635-4dac-ba3e-098ca8bdc9ef","block_type":"box","text":"Fund objective","page_number":9,"box":{"x":522,"y":151,"width":135,"height":11}},{"id":"599eafd2-4e3c-4d04-a902-1dc2114c4f2b","block_type":"box","text":"The Fund’s investment objective is to achieve a total return over","page_number":9,"box":{"x":521,"y":169,"width":422,"height":10}},{"id":"8b8f92c4-b7da-4f6c-81c0-63719288f9c9","block_type":"box","text":"the medium term, which should be considered as a period of","page_number":9,"box":{"x":521,"y":184,"width":422,"height":10}},{"id":"67822def-d57c-4a8e-ada0-d6995ac30854","block_type":"box","text":"3–5 years, by predominantly (ie at least 80%) investing in a","page_number":9,"box":{"x":522,"y":198,"width":420,"height":10}},{"id":"7add783f-12f8-46c1-98c3-ed3b303e33a7","block_type":"box","text":"range of different fixed income strategies through investment in","page_number":9,"box":{"x":522,"y":212,"width":419,"height":10}},{"id":"0fe52b7d-e467-4531-bc1a-132ff8b4b3a2","block_type":"box","text":"Collective Investment Schemes (CIS). The Fund forms part of","page_number":9,"box":{"x":522,"y":226,"width":421,"height":10}},{"id":"7852ffeb-8db3-4966-9e8a-059b239b4764","block_type":"box","text":"the Royal London Global Multi-Asset Portfolio (GMAP) range.","page_number":9,"box":{"x":521,"y":241,"width":420,"height":10}},{"id":"54d5ac8a-5a56-471d-ad0a-7cafcec96848","block_type":"box","text":"Each Fund in the range is assigned a level of potential risk","page_number":9,"box":{"x":522,"y":255,"width":420,"height":10}},{"id":"85f168e9-aeee-4ab3-88b9-72d43fe39ca2","block_type":"box","text":"and return relative to the other funds in the range. Within this","page_number":9,"box":{"x":521,"y":269,"width":421,"height":10}},{"id":"40c32779-a1cf-4dc1-945f-8006cec359b8","block_type":"box","text":"range, this Fund aims to achieve a low level of risk and return.","page_number":9,"box":{"x":522,"y":283,"width":419,"height":10}},{"id":"8466aa34-58fd-432b-aca3-59b1bd7a838b","block_type":"box","text":"The Fund is actively managed, meaning that the manager will","page_number":9,"box":{"x":521,"y":298,"width":420,"height":10}},{"id":"ae994da3-06ae-49d6-9b71-17041cc17062","block_type":"box","text":"use their expertise to select investments to meet the objective.","page_number":9,"box":{"x":522,"y":312,"width":419,"height":10}},{"id":"c4740098-acd8-4865-88bd-ea288e39579c","block_type":"box","text":"Performance overview","page_number":9,"box":{"x":522,"y":339,"width":209,"height":9}},{"id":"c5543932-0b17-4f7a-ab08-36ee3cf5ba65","block_type":"box","text":"The Fund outperformed the benchmark during the period","page_number":9,"box":{"x":521,"y":357,"width":420,"height":10}},{"id":"627c2c4c-c95d-4d88-a6cc-61044d1ee748","block_type":"box","text":"under review.","page_number":9,"box":{"x":522,"y":372,"width":88,"height":7}},{"id":"bcf7c49d-680f-43e3-9951-049a69f860a0","block_type":"box","text":"Market overview","page_number":9,"box":{"x":522,"y":398,"width":154,"height":9}},{"id":"a44e4fd6-f49a-4a66-a93f-e7ee00b64584","block_type":"box","text":"Geopolitical tensions in the Middle East were a key driver of","page_number":9,"box":{"x":522,"y":417,"width":421,"height":10}},{"id":"c01bc13e-427f-4792-b1e4-01f827bf7752","block_type":"box","text":"markets over the period, which saw commodities rise materially","page_number":9,"box":{"x":522,"y":431,"width":420,"height":10}},{"id":"49c6c0c6-cffd-4510-be2a-48223521596a","block_type":"box","text":"over the start of the year. Despite this, global equity markets","page_number":9,"box":{"x":521,"y":445,"width":421,"height":10}},{"id":"95ee6afb-2a62-4034-bf7a-53181c00d50f","block_type":"box","text":"performed well over the period, with euphoria around Artificial","page_number":9,"box":{"x":522,"y":460,"width":419,"height":9}},{"id":"14c8aa10-10ee-465f-863f-4bdc98f87551","block_type":"box","text":"Intelligence (AI) once again boosting investor sentiment.","page_number":9,"box":{"x":522,"y":474,"width":419,"height":10}},{"id":"4ea8e3f6-d9ff-46eb-9b88-14cfa74e552c","block_type":"box","text":"Semiconductor companies, which are at the heart of the AI","page_number":9,"box":{"x":522,"y":488,"width":419,"height":10}},{"id":"80991044-cb87-4dac-bd5a-43a22ff82950","block_type":"box","text":"infrastructure buildout, were beneficiaries, rising sharply over","page_number":9,"box":{"x":522,"y":502,"width":421,"height":10}},{"id":"41554fba-74d5-46e5-a72e-8d2bd10c8880","block_type":"box","text":"Q2. Bond yields ended the period higher, as rising inflation risk","page_number":9,"box":{"x":522,"y":517,"width":420,"height":10}},{"id":"9be6fd4b-0dff-4738-9aaa-96ce1798d1b0","block_type":"box","text":"saw markets moved to price in interest rate hikes from global","page_number":9,"box":{"x":521,"y":531,"width":420,"height":10}},{"id":"f17a19ff-7f56-4069-9363-819e32ebf15e","block_type":"box","text":"central banks.","page_number":9,"box":{"x":522,"y":545,"width":93,"height":8}},{"id":"a4852300-c108-48b5-b17a-ab18f7a7212c","block_type":"box","text":"Portfolio commentary","page_number":9,"box":{"x":522,"y":572,"width":202,"height":11}},{"id":"657cd30a-e32e-40f6-a010-27b7fb0c7c92","block_type":"box","text":"Short-dated government bonds outperformed long-dated","page_number":9,"box":{"x":522,"y":590,"width":419,"height":10}},{"id":"2263cb6d-5a49-41bd-aea3-c005a0394d15","block_type":"box","text":"equivalents in the first part of 2026, as investors rapidly changed","page_number":9,"box":{"x":521,"y":605,"width":420,"height":10}},{"id":"856aefd7-143b-4a09-ad7e-b14f8508106a","block_type":"box","text":"expectations around central bank policy for the rest of the year.","page_number":9,"box":{"x":521,"y":619,"width":420,"height":10}},{"id":"5969c0b7-d0a7-49db-ac91-3089ccc2e031","block_type":"box","text":"At the start of the year, there were numerous interest rate cuts","page_number":9,"box":{"x":521,"y":633,"width":421,"height":10}},{"id":"2f7a0686-0ba8-4cf0-bc65-650b25d0141f","block_type":"box","text":"priced in and this moved to expectations of interest rate hikes","page_number":9,"box":{"x":522,"y":647,"width":420,"height":10}},{"id":"9042c0c0-f578-491c-b31a-a8312c906ab9","block_type":"box","text":"across major developed economies. Bond yields did ease","page_number":9,"box":{"x":521,"y":662,"width":421,"height":10}},{"id":"99e89882-5979-4fc5-b451-08cf49ede055","block_type":"box","text":"somewhat after this however, as progress towards a fragile","page_number":9,"box":{"x":521,"y":676,"width":421,"height":10}},{"id":"34f26013-5e0a-4aa6-8656-23a84c9c8d5d","block_type":"box","text":"peace deal and lower oil prices helped ease inflation concerns.","page_number":9,"box":{"x":522,"y":690,"width":419,"height":10}},{"id":"66fd6727-a495-4bba-8646-9aff1785562e","block_type":"box","text":"Later in the period, both the ECB and the Bank of Japan","page_number":9,"box":{"x":522,"y":711,"width":419,"height":10}},{"id":"508116fc-6aff-426f-b1d5-43bbbe279858","block_type":"box","text":"delivered 25bps rate hikes. Following Warsh’s first meeting as","page_number":9,"box":{"x":521,"y":725,"width":421,"height":10}},{"id":"f4d452ed-26fc-4048-82d8-26791bd5ed43","block_type":"box","text":"Fed Chair, markets moved to price a tougher approach from the","page_number":9,"box":{"x":522,"y":740,"width":420,"height":10}},{"id":"98438e93-6bc4-413a-9e2c-499f6886497e","block_type":"box","text":"US central bank, with a rate hike expected in October.","page_number":9,"box":{"x":522,"y":754,"width":361,"height":10}},{"id":"fa42c765-c342-4b2d-a27f-682386708df0","block_type":"box","text":"The Fund remains neutral on global high yield, having reduced","page_number":9,"box":{"x":521,"y":775,"width":420,"height":10}},{"id":"e153d1fc-f9f8-476c-bcc7-92bb684aeba1","block_type":"box","text":"exposure when the Iran War started to protect against a","page_number":9,"box":{"x":521,"y":789,"width":421,"height":10}},{"id":"046abc88-fa68-44b5-8d97-394e3800371b","block_type":"box","text":"potential stagflationary shock from higher energy prices. While","page_number":9,"box":{"x":522,"y":803,"width":420,"height":10}},{"id":"d1c486d0-fd68-4527-a7e6-fad385612ed2","block_type":"box","text":"risky assets have rallied sharply over recent few months, fixed","page_number":9,"box":{"x":522,"y":818,"width":419,"height":10}},{"id":"dd083d43-060d-47d4-a904-4a361c22c783","block_type":"box","text":"income markets remain volatile, and credit spreads remain","page_number":9,"box":{"x":522,"y":832,"width":419,"height":10}},{"id":"2c051e1e-8373-4e35-9b4c-44d1b0502e83","block_type":"box","text":"near historically tight levels.","page_number":9,"box":{"x":522,"y":846,"width":185,"height":10}},{"id":"7801c9af-40b9-4902-b1fe-3b08efc3677c","block_type":"box","text":"Royal London GMAP Diversified Bond Fund","page_number":9,"box":{"x":59,"y":94,"width":622,"height":17}},{"id":"9ffd3f7b-e16f-473d-8f5c-f0f259ce4ddb","block_type":"box","text":"Royal London GMAP Diversified Bond Fund | Royal London Multi-Asset Funds ICVC","page_number":9,"box":{"x":465,"y":33,"width":448,"height":8}},{"id":"d2caf446-a2cb-468b-9e8d-c4c4d832b362","block_type":"box","text":"9","page_number":9,"box":{"x":936,"y":33,"width":6,"height":6}},{"id":"9c7578ee-068d-4fcf-be13-b903e3a276ef","block_type":"box","text":"Manager’s Investment Report","page_number":10,"box":{"x":58,"y":94,"width":352,"height":14}},{"id":"2fde4e64-f876-44ae-8f64-7999f6477ae0","block_type":"box","text":"Investment outlook","page_number":10,"box":{"x":58,"y":151,"width":179,"height":9}},{"id":"b48602ea-27d7-4394-aa9f-a01c8ebe246d","block_type":"box","text":"The Investment Clock is in Stagflation, reflecting the high oil","page_number":10,"box":{"x":57,"y":169,"width":420,"height":10}},{"id":"3792e1bc-2d60-42df-96c1-cac5e9e02cdd","block_type":"box","text":"price and weaker business surveys amid the still uncertain US","page_number":10,"box":{"x":58,"y":184,"width":420,"height":10}},{"id":"dbaee945-1163-4ae5-baa2-6d5057196c5d","block_type":"box","text":"Iran conflict. Energy prices retreated last quarter on signs of a","page_number":10,"box":{"x":58,"y":198,"width":419,"height":10}},{"id":"f3de8a16-44db-4705-923e-56c47a6a253c","block_type":"box","text":"fragile peace deal, but tensions have since risen again.","page_number":10,"box":{"x":57,"y":212,"width":370,"height":10}},{"id":"0a7857da-53c8-4514-9ed8-ae1498a0248f","block_type":"box","text":"The AI boom is raising corporate earnings of technology","page_number":10,"box":{"x":57,"y":233,"width":421,"height":10}},{"id":"96866b60-f2fe-4e80-8634-e0d5b725cd36","block_type":"box","text":"stocks. Cycle-adjusted valuations are near dot com era levels.","page_number":10,"box":{"x":57,"y":247,"width":420,"height":10}},{"id":"1348cf9c-9498-4fe6-b2ef-777afa0be2bb","block_type":"box","text":"Innovation waves often get overblown in financial markets,","page_number":10,"box":{"x":58,"y":262,"width":419,"height":10}},{"id":"e222c1b3-392c-4aa6-aa90-db43eba0f5a6","block_type":"box","text":"even when their long-term impact is transformative.","page_number":10,"box":{"x":57,"y":276,"width":345,"height":10}},{"id":"a7a45841-a9b2-41cd-a859-9d43fea808d5","block_type":"box","text":"Please see our Investment Clock blog at www.rlam.com for our","page_number":10,"box":{"x":58,"y":297,"width":420,"height":10}},{"id":"af310dba-6dd3-4627-8c24-170dee9c5dbb","block_type":"box","text":"latest views.","page_number":10,"box":{"x":58,"y":311,"width":80,"height":8}},{"id":"3baaa506-531c-419c-9a39-f4116ec237ea","block_type":"box","text":"Trevor Greetham","page_number":10,"box":{"x":57,"y":353,"width":121,"height":8}},{"id":"08ca8779-dbd4-4998-9c20-5918a663d6ab","block_type":"box","text":"Fund Manager","page_number":10,"box":{"x":58,"y":367,"width":103,"height":10}},{"id":"feda8e98-d1b2-46c6-8437-47962d24d1c6","block_type":"box","text":"Royal London Asset Management Limited","page_number":10,"box":{"x":58,"y":382,"width":303,"height":10}},{"id":"aa10c0fd-7460-4ffd-9121-4a09f46e06f7","block_type":"box","text":"30","page_number":10,"box":{"x":57,"y":396,"width":16,"height":8}},{"id":"a299eb9e-8544-4b25-b1a4-9e804aa98709","block_type":"box","text":"June 2026","page_number":10,"box":{"x":78,"y":396,"width":73,"height":8}},{"id":"f883439c-b014-410b-9e8e-f99e7eb7f374","block_type":"box","text":"Please note that this commentary is written as at end of the","page_number":10,"box":{"x":58,"y":430,"width":419,"height":10}},{"id":"d8b4dda8-59c4-41a6-9e90-bee7de4ff5b9","block_type":"box","text":"review period. For insights into market events or positioning","page_number":10,"box":{"x":58,"y":443,"width":419,"height":10}},{"id":"c068b1a6-cc4b-4780-b6ed-6ba7157e30fa","block_type":"box","text":"since then, please go to www.rlam.com.","page_number":10,"box":{"x":57,"y":456,"width":270,"height":10}},{"id":"07456f35-47c5-43de-bf33-dccc01b608bd","block_type":"box","text":"This report covers investment performance, activity and","page_number":10,"box":{"x":57,"y":472,"width":420,"height":10}},{"id":"88f10da3-5e20-4fc7-a099-31ba35ce4a59","block_type":"box","text":"outlook. For a wider look at the Fund, our Annual Assessment","page_number":10,"box":{"x":57,"y":486,"width":421,"height":9}},{"id":"1bcd5877-4a6f-4999-8afe-42bac55c8bb9","block_type":"box","text":"of Value report is available at www.rlam.com.","page_number":10,"box":{"x":57,"y":499,"width":305,"height":9}},{"id":"5ead9331-e590-4213-a2c8-15c168bbb206","block_type":"box","text":"For further help on some of the terms used, please see our","page_number":10,"box":{"x":58,"y":515,"width":420,"height":10}},{"id":"8c69b34c-a23e-425f-a966-459a421a20a1","block_type":"box","text":"glossary at www.rlam.com/uk/individual-investors/glossary.","page_number":10,"box":{"x":57,"y":528,"width":400,"height":10}},{"id":"7d6bf35f-b03f-4e04-96d0-5a69039ef1e7","block_type":"box","text":"The Task Force on Climate-related Financial Disclosures","page_number":10,"box":{"x":57,"y":545,"width":420,"height":7}},{"id":"1b3ac012-409d-4b46-9578-b369ea9b0471","block_type":"box","text":"(TCFD) Report can be found under the relevant Fund name","page_number":10,"box":{"x":58,"y":558,"width":419,"height":10}},{"id":"4f9a773b-5d10-4ca8-b39b-3ff632991b0a","block_type":"box","text":"at","page_number":10,"box":{"x":57,"y":571,"width":13,"height":8}},{"id":"bb8b95f2-f51d-4f29-bef4-df055e2f7499","block_type":"box","text":"https://www.rlam.com/uk/individual-investors/funds","page_number":10,"box":{"x":81,"y":571,"width":391,"height":10}},{"id":"3f846b15-ff10-4168-b1d1-1caebd2ce5ab","block_type":"box","text":".","page_number":10,"box":{"x":475,"y":577,"width":2,"height":1}},{"id":"1d42b7ee-0716-4e94-9133-37f22fe9f0a4","block_type":"box","text":"This report has been prepared in accordance with the","page_number":10,"box":{"x":57,"y":584,"width":420,"height":10}},{"id":"dca5f6a8-6107-4014-836a-d922d146a44e","block_type":"box","text":"recommendations of the TCFD, which aims to help the","page_number":10,"box":{"x":58,"y":597,"width":419,"height":10}},{"id":"abb5a453-06bd-48a7-ade7-3df7b548b0cd","block_type":"box","text":"investment community build a more in-depth and consistent","page_number":10,"box":{"x":58,"y":610,"width":420,"height":10}},{"id":"648febb2-0eff-4fe0-ba38-c7de6c83e8aa","block_type":"box","text":"picture of the impact of climate change. A copy of Royal","page_number":10,"box":{"x":58,"y":623,"width":419,"height":10}},{"id":"cf5ee842-ea2e-4cdd-a1ce-7f793f9006a7","block_type":"box","text":"London Asset Management Limited’s annual TCFD Report","page_number":10,"box":{"x":58,"y":636,"width":420,"height":10}},{"id":"5208bdce-48da-480e-90de-d84e3369bb29","block_type":"box","text":"can also be found on our website.","page_number":10,"box":{"x":57,"y":649,"width":228,"height":8}},{"id":"800ca580-7b0a-4b05-9a90-cb5e0aa86d01","block_type":"box","text":"The views expressed are the author’s own and do not","page_number":10,"box":{"x":57,"y":666,"width":421,"height":9}},{"id":"b893ebfc-bcfd-4899-9600-d9f8559e21d2","block_type":"box","text":"constitute investment advice and are not an indication","page_number":10,"box":{"x":57,"y":679,"width":420,"height":7}},{"id":"89ed1493-1f89-4107-9056-a57a0d02bb0d","block_type":"box","text":"of future Fund performance. Portfolio holdings are","page_number":10,"box":{"x":57,"y":692,"width":420,"height":10}},{"id":"50ec3635-c07d-43ae-9bf5-344b535f691e","block_type":"box","text":"subject to change, for information only and are not","page_number":10,"box":{"x":57,"y":705,"width":421,"height":10}},{"id":"805495cc-142d-4ff5-aa05-37e382ee3389","block_type":"box","text":"investment recommendations.","page_number":10,"box":{"x":58,"y":718,"width":201,"height":8}},{"id":"846b6e82-49cc-489e-ac6e-004f9e615c2d","block_type":"box","text":"Source: Royal London Asset Management Limited, unless","page_number":10,"box":{"x":57,"y":734,"width":393,"height":10}},{"id":"4ef9f524-47ae-4811-b0b0-af4e62ffdd35","block_type":"box","text":"otherwise stated.","page_number":10,"box":{"x":57,"y":747,"width":115,"height":8}},{"id":"75f023f4-db52-40a1-b140-318954fba6a9","block_type":"box","text":"Royal London GMAP Diversified Bond Fund | Royal London Multi-Asset Funds ICVC","page_number":10,"box":{"x":465,"y":33,"width":448,"height":8}},{"id":"bbc7d040-83a0-4db5-b9ac-048caebb5530","block_type":"box","text":"10","page_number":10,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"44e93372-f5fd-4aab-9aa4-18845053c1bc","block_type":"box","text":"Class M Accumulation","page_number":11,"box":{"x":57,"y":151,"width":206,"height":9}},{"id":"c8eabd6c-0dfd-4745-a233-ac9c1c260d67","block_type":"box","text":"Change in net assets","page_number":11,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"3cf3432d-3f2d-436e-b00f-d8ec683366bf","block_type":"box","text":"30/06/26","page_number":11,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"0121ee30-219a-42c3-9e16-1cbbdee4770a","block_type":"box","text":"31/12/25","page_number":11,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"778ffbd4-ce5e-4206-a0e4-b4a3c2a6b976","block_type":"box","text":"31/12/24","page_number":11,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"4134c6f8-4d03-441f-922c-03289ac19822","block_type":"box","text":"31/12/23","page_number":11,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"f806f8a3-1b14-4c57-bb03-46a5e353fe90","block_type":"box","text":"per share","page_number":11,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"b1626f89-0d7e-4620-8a7b-766c00af1ba8","block_type":"box","text":"(p)","page_number":11,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"411f16d4-0766-434f-ac79-d7da88d3b198","block_type":"box","text":"(p)","page_number":11,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"2e99c841-2e5e-4ab4-9e8a-9defc0746799","block_type":"box","text":"(p)","page_number":11,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"acc2b5a8-8293-47f1-a606-98395c49b8da","block_type":"box","text":"(p)","page_number":11,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"082a9c2a-6198-4d3e-b8bc-2e321ceaaed4","block_type":"box","text":"Opening net asset","page_number":11,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"537dc38e-a5ee-42a9-91f8-ad54c182f122","block_type":"box","text":"value per share","page_number":11,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"d271986f-1bca-447f-89fb-1981f5016380","block_type":"box","text":"115.52","page_number":11,"box":{"x":225,"y":205,"width":33,"height":6}},{"id":"f4169626-f4a9-49b3-a2f8-be3057521c0e","block_type":"box","text":"110.37","page_number":11,"box":{"x":296,"y":205,"width":34,"height":6}},{"id":"ca8c7352-65c0-4eb5-9e5d-d95986a90523","block_type":"box","text":"110.45","page_number":11,"box":{"x":368,"y":205,"width":33,"height":6}},{"id":"8903e657-664d-479b-968e-a2694ddcf365","block_type":"box","text":"105.61","page_number":11,"box":{"x":438,"y":205,"width":33,"height":6}},{"id":"2c5a5a65-bd19-46ad-8a30-ea5de606ce65","block_type":"box","text":"Return before operating","page_number":11,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"24e74275-da77-4e39-863c-1c2e4868c693","block_type":"box","text":"charges*","page_number":11,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"33e3e019-0f99-4eb5-b56c-bc744d9422a4","block_type":"box","text":"1.30","page_number":11,"box":{"x":237,"y":232,"width":21,"height":6}},{"id":"ea744603-fdcb-4f59-b81a-5021ef4c06af","block_type":"box","text":"5.82","page_number":11,"box":{"x":307,"y":232,"width":23,"height":6}},{"id":"15c1725d-5f5e-49e8-9c23-0a2806ddc5da","block_type":"box","text":"0.58","page_number":11,"box":{"x":379,"y":232,"width":22,"height":6}},{"id":"63abc4c2-70b9-4a5e-9e6a-41e4e523a963","block_type":"box","text":"5.48","page_number":11,"box":{"x":450,"y":232,"width":23,"height":6}},{"id":"347fa376-1eb6-4ef2-b74b-21b7fdc5e372","block_type":"box","text":"Operating charges","page_number":11,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"f62b0388-d2ee-4a8f-a655-5835f34a9a05","block_type":"box","text":"(0.34)","page_number":11,"box":{"x":232,"y":259,"width":31,"height":8}},{"id":"bdbec0e8-51ea-43f7-900c-676b53c6dc07","block_type":"box","text":"(0.67)","page_number":11,"box":{"x":304,"y":259,"width":30,"height":8}},{"id":"3548d5f1-bfbd-4b69-b696-716529a85ccb","block_type":"box","text":"(0.66)","page_number":11,"box":{"x":375,"y":259,"width":30,"height":8}},{"id":"d80d1317-c931-4cc5-872b-eb9a3afdf1fc","block_type":"box","text":"(0.64)","page_number":11,"box":{"x":447,"y":259,"width":30,"height":8}},{"id":"8f207702-9d86-46c6-b4be-bd5dc2462126","block_type":"box","text":"Return after operating","page_number":11,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"e5b5f0a8-29ac-4011-a901-77c851312339","block_type":"box","text":"charges*","page_number":11,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"2f16a950-43b0-4275-a612-380cee5d6ecc","block_type":"box","text":"0.96","page_number":11,"box":{"x":236,"y":276,"width":22,"height":6}},{"id":"82704faf-5ee9-4618-b574-ca4212e3ac0f","block_type":"box","text":"5.15","page_number":11,"box":{"x":309,"y":276,"width":21,"height":6}},{"id":"62ec9e0b-b9e8-4373-aeee-fade1a77bdeb","block_type":"box","text":"(0.08)","page_number":11,"box":{"x":375,"y":276,"width":30,"height":8}},{"id":"6f7d0da3-ef1b-4a21-918f-4c6c735b9f9e","block_type":"box","text":"4.84","page_number":11,"box":{"x":450,"y":276,"width":23,"height":6}},{"id":"cfcce8aa-d3a8-4226-a345-3636cbe1d978","block_type":"box","text":"Distributions on","page_number":11,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"9aff9e4a-5d8d-4da4-b93c-1d3bbc3214a3","block_type":"box","text":"accumulation shares","page_number":11,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"076c3022-8654-4c67-80c6-fdcf640c559c","block_type":"box","text":"(1.15)","page_number":11,"box":{"x":235,"y":303,"width":28,"height":8}},{"id":"617c8c52-9e31-445e-ba53-282784eca18e","block_type":"box","text":"(3.39)","page_number":11,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"7551ae26-cbc1-4db7-ab77-6d0995a3e3da","block_type":"box","text":"(3.63)","page_number":11,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"6f2964f5-3789-48e0-b739-673055b3e954","block_type":"box","text":"(3.05)","page_number":11,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"235a07be-aa64-4499-8048-0a54955bcde6","block_type":"box","text":"Retained distributions","page_number":11,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"b14f4b92-19a2-4436-974c-38f242b7f8e1","block_type":"box","text":"on accumulation shares","page_number":11,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"10d515e5-b148-4115-8fba-6fa72d21421f","block_type":"box","text":"1.15","page_number":11,"box":{"x":239,"y":330,"width":20,"height":6}},{"id":"13e17ea2-b240-4c5f-a1c8-530dd5e35aee","block_type":"box","text":"3.39","page_number":11,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"bbf7ac1e-a423-46d7-a4a5-d105904ab62d","block_type":"box","text":"3.63","page_number":11,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"e9eea7f4-1770-49b4-ba00-0e0d11955632","block_type":"box","text":"3.05","page_number":11,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"35513769-741f-49e0-be6b-63db9e9ed635","block_type":"box","text":"Closing net asset","page_number":11,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"a62977a8-12f2-4f19-832a-1d6f7a17a342","block_type":"box","text":"value per share","page_number":11,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"10e8e6dd-3c2c-4847-9364-4b2df3fef0bf","block_type":"box","text":"116.48","page_number":11,"box":{"x":224,"y":357,"width":34,"height":6}},{"id":"5791b976-4b8e-4530-8d09-0c4f3fa6e4e3","block_type":"box","text":"115.52","page_number":11,"box":{"x":296,"y":357,"width":34,"height":6}},{"id":"51ab1245-e51a-4cea-aea0-0066d5ccd125","block_type":"box","text":"110.37","page_number":11,"box":{"x":367,"y":357,"width":34,"height":6}},{"id":"96905b91-c6df-46a9-b57b-2f1594634547","block_type":"box","text":"110.45","page_number":11,"box":{"x":438,"y":357,"width":35,"height":6}},{"id":"c9bd4cc3-a4b1-4afe-b12d-675747dc3e59","block_type":"box","text":"* after direct transaction","page_number":11,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"3d401fab-ec44-47ed-8f17-e9695a412af3","block_type":"box","text":"costs of:","page_number":11,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"bd610dc9-fcdc-46aa-bd34-d98178db5faa","block_type":"box","text":"–","page_number":11,"box":{"x":252,"y":389,"width":7,"height":0}},{"id":"a1d570d3-38f4-406d-be41-2d53f333721d","block_type":"box","text":"–","page_number":11,"box":{"x":324,"y":389,"width":6,"height":0}},{"id":"39cf58eb-b806-40b9-8b0c-3c05d61aaaf4","block_type":"box","text":"–","page_number":11,"box":{"x":395,"y":389,"width":7,"height":0}},{"id":"2db147f8-1f30-4436-b58a-1352aa7248b0","block_type":"box","text":"–","page_number":11,"box":{"x":467,"y":389,"width":6,"height":0}},{"id":"4d105fcc-f356-4b0b-b5c0-f903edb04c79","block_type":"box","text":"Performance","page_number":11,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"0a991d83-2ac0-4c8f-b8eb-14815e25a00b","block_type":"box","text":"Return after charges","page_number":11,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"d5a4b784-c39f-448c-b568-4f41d0cc4e37","block_type":"box","text":"0.83%","page_number":11,"box":{"x":225,"y":419,"width":33,"height":7}},{"id":"2ff9742a-8c34-4ead-8d8a-af642e7789f9","block_type":"box","text":"4.67%","page_number":11,"box":{"x":297,"y":419,"width":33,"height":7}},{"id":"eee37fc5-9746-4329-8d66-d9a467735fe2","block_type":"box","text":"(0.07)%","page_number":11,"box":{"x":366,"y":419,"width":40,"height":8}},{"id":"ce9054b8-149b-4cfd-aff6-fb4eb9e2cff7","block_type":"box","text":"4.58%","page_number":11,"box":{"x":439,"y":419,"width":34,"height":7}},{"id":"f684fd38-290d-4de0-89d0-f0924c7726f9","block_type":"box","text":"Other information","page_number":11,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"ec05b39f-d39b-4ab7-888a-e99c10f630db","block_type":"box","text":"Closing net asset value","page_number":11,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"728ea0c0-f244-4b4b-907b-7988559f1b96","block_type":"box","text":"(£’000)","page_number":11,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"11c50675-8713-4cba-854e-720792a2ddf4","block_type":"box","text":"1,154","page_number":11,"box":{"x":232,"y":447,"width":26,"height":7}},{"id":"e7831a12-5497-40f0-ba47-03f77f3538a2","block_type":"box","text":"1,393","page_number":11,"box":{"x":302,"y":447,"width":28,"height":7}},{"id":"316fd4ee-4896-4bab-8aca-ccaead845452","block_type":"box","text":"1,736","page_number":11,"box":{"x":374,"y":447,"width":27,"height":7}},{"id":"df8416de-24fc-4775-9479-b76322f930a6","block_type":"box","text":"2,548","page_number":11,"box":{"x":443,"y":447,"width":30,"height":7}},{"id":"bce41962-ba91-46e0-9c39-e4d7311c08c6","block_type":"box","text":"Closing number of","page_number":11,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"19c0dd47-bc8a-445e-ab8d-25cddd0122bb","block_type":"box","text":"shares","page_number":11,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"01d46176-203b-4af7-8713-9a3c56c84c6b","block_type":"box","text":"991,114","page_number":11,"box":{"x":222,"y":466,"width":36,"height":7}},{"id":"0eaf5648-41a0-4bac-996e-2364be5bdeba","block_type":"box","text":"1,205,939","page_number":11,"box":{"x":281,"y":466,"width":49,"height":7}},{"id":"f21e9246-7377-426a-8bcf-5d69e39205f7","block_type":"box","text":"1,572,737","page_number":11,"box":{"x":354,"y":466,"width":47,"height":7}},{"id":"fa0fb649-6657-4a02-b721-790827b63a80","block_type":"box","text":"2,306,752","page_number":11,"box":{"x":424,"y":466,"width":49,"height":7}},{"id":"16a86bfc-d3f8-439a-873c-611570ad5aba","block_type":"box","text":"Operating charges","page_number":11,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"1d8f17a9-da6c-4e70-89c3-66b2b289068d","block_type":"box","text":"0.60%","page_number":11,"box":{"x":225,"y":485,"width":33,"height":6}},{"id":"32d4a2e8-428c-4111-a8bf-7ff1936fd845","block_type":"box","text":"0.60%","page_number":11,"box":{"x":297,"y":485,"width":33,"height":6}},{"id":"cdba2880-0bb5-40e8-885a-0f0443cb23ab","block_type":"box","text":"0.60%","page_number":11,"box":{"x":368,"y":485,"width":33,"height":6}},{"id":"f58ed403-4552-44fa-af1b-8eefe453c89a","block_type":"box","text":"0.60%","page_number":11,"box":{"x":440,"y":485,"width":33,"height":6}},{"id":"1f55dd13-d313-42c7-b77a-32361a1ab1b2","block_type":"box","text":"Direct transaction costs","page_number":11,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"262a90b5-495a-4f5f-85f9-d2198f0b4c6e","block_type":"box","text":"–","page_number":11,"box":{"x":252,"y":498,"width":7,"height":1}},{"id":"8b26c33b-decc-45a6-93af-1382e3e953da","block_type":"box","text":"–","page_number":11,"box":{"x":324,"y":498,"width":6,"height":1}},{"id":"f6f544c2-fca1-4a75-86d2-f552a9b5d125","block_type":"box","text":"–","page_number":11,"box":{"x":395,"y":498,"width":7,"height":1}},{"id":"24576a22-3960-4ba1-9680-d99b905bf965","block_type":"box","text":"–","page_number":11,"box":{"x":467,"y":498,"width":6,"height":1}},{"id":"5518800e-325f-49a3-a0b5-8f542fb0fd24","block_type":"box","text":"Prices","page_number":11,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"009805cd-0cac-44c7-b150-bce5cd2781dc","block_type":"box","text":"^","page_number":11,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"e11f1192-811a-4aeb-b9cb-90104b694a80","block_type":"box","text":"Highest share price","page_number":11,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"2e7e0b9a-81f2-431c-b385-cb1b8892c538","block_type":"box","text":"118.00","page_number":11,"box":{"x":224,"y":522,"width":34,"height":6}},{"id":"7f75b1f9-e970-4d48-a384-70b3214ad681","block_type":"box","text":"115.50","page_number":11,"box":{"x":296,"y":522,"width":34,"height":6}},{"id":"bcbef372-1030-4e1a-9db6-08706f2b8611","block_type":"box","text":"113.80","page_number":11,"box":{"x":367,"y":522,"width":34,"height":6}},{"id":"b12d4380-ab7a-4cbf-a502-90678eb76105","block_type":"box","text":"111.10","page_number":11,"box":{"x":442,"y":522,"width":31,"height":6}},{"id":"9e625b6a-a131-4104-b6fe-49e31c4cc92d","block_type":"box","text":"Lowest share price","page_number":11,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"1fd48e1f-c198-47cc-adc2-88c799893922","block_type":"box","text":"113.80","page_number":11,"box":{"x":225,"y":532,"width":33,"height":6}},{"id":"5ab246db-12c7-4b31-8e0c-5926ae4ba2ca","block_type":"box","text":"108.70","page_number":11,"box":{"x":295,"y":532,"width":35,"height":6}},{"id":"a5128837-3a9d-4b0e-9656-fbd4b1489372","block_type":"box","text":"107.60","page_number":11,"box":{"x":368,"y":532,"width":33,"height":6}},{"id":"6796e150-2675-4f99-af56-21e4139149e7","block_type":"box","text":"102.20","page_number":11,"box":{"x":438,"y":532,"width":35,"height":6}},{"id":"f6371b10-ef8a-4a6d-90a3-79328e7c830e","block_type":"box","text":"Class M Income","page_number":11,"box":{"x":57,"y":560,"width":146,"height":9}},{"id":"17fae26d-e67d-4ce9-b8cd-b9e29b96b273","block_type":"box","text":"Change in net assets","page_number":11,"box":{"x":57,"y":586,"width":120,"height":8}},{"id":"f98407ef-9c75-4c4a-9eff-156e4ddd468f","block_type":"box","text":"30/06/26","page_number":11,"box":{"x":212,"y":586,"width":47,"height":6}},{"id":"4f1fc267-4585-4a34-ab19-66dc4cf8fc14","block_type":"box","text":"31/12/25","page_number":11,"box":{"x":285,"y":586,"width":45,"height":6}},{"id":"0af4abee-e34e-4bb5-a96a-6b8a703cd45c","block_type":"box","text":"31/12/24","page_number":11,"box":{"x":356,"y":586,"width":46,"height":6}},{"id":"706bbdef-9b34-465e-96aa-1adbe82305e8","block_type":"box","text":"31/12/23","page_number":11,"box":{"x":428,"y":586,"width":45,"height":6}},{"id":"82f01653-495f-4251-9485-21208400af8d","block_type":"box","text":"per share","page_number":11,"box":{"x":57,"y":595,"width":54,"height":8}},{"id":"d302fcbc-a7f3-412c-9666-ae4444df2953","block_type":"box","text":"(p)","page_number":11,"box":{"x":245,"y":595,"width":13,"height":8}},{"id":"cd62903e-d7ef-4307-872a-19a0a4661895","block_type":"box","text":"(p)","page_number":11,"box":{"x":316,"y":595,"width":14,"height":8}},{"id":"f97e2d4c-daa0-4c3a-a3d6-9aab60196ef0","block_type":"box","text":"(p)","page_number":11,"box":{"x":387,"y":595,"width":14,"height":8}},{"id":"9bf5a591-06c4-46cb-a4e9-5a83c47b2067","block_type":"box","text":"(p)","page_number":11,"box":{"x":459,"y":595,"width":14,"height":8}},{"id":"447925a7-d3bf-4ad6-806d-2b398a51bc99","block_type":"box","text":"Opening net asset","page_number":11,"box":{"x":57,"y":614,"width":97,"height":8}},{"id":"6ae65401-678f-4b67-9bed-0f273bab6049","block_type":"box","text":"value per share","page_number":11,"box":{"x":57,"y":624,"width":82,"height":7}},{"id":"526d341d-6c4b-40e3-8d44-71ee9f8416cc","block_type":"box","text":"95.90","page_number":11,"box":{"x":229,"y":614,"width":29,"height":6}},{"id":"5c58e70c-3761-48c9-ba3b-1321f171c5b8","block_type":"box","text":"94.39","page_number":11,"box":{"x":300,"y":614,"width":30,"height":6}},{"id":"4feaefef-7527-428b-b7fa-6934e414142b","block_type":"box","text":"97.66","page_number":11,"box":{"x":373,"y":614,"width":28,"height":6}},{"id":"7b6a3019-7984-4499-a136-6d5b5fef4f4a","block_type":"box","text":"96.05","page_number":11,"box":{"x":443,"y":614,"width":30,"height":6}},{"id":"c7d9fdc0-7541-4c92-b64d-655e8dd3212d","block_type":"box","text":"Return before operating","page_number":11,"box":{"x":58,"y":641,"width":125,"height":8}},{"id":"f7be226b-3b77-444d-b19f-b005509c5ff6","block_type":"box","text":"charges*","page_number":11,"box":{"x":57,"y":650,"width":47,"height":8}},{"id":"b3b3f7bd-972f-42de-958d-4f7927217380","block_type":"box","text":"1.08","page_number":11,"box":{"x":237,"y":641,"width":22,"height":6}},{"id":"f1be15f7-ec66-4442-aa76-7d314670bfaf","block_type":"box","text":"4.96","page_number":11,"box":{"x":307,"y":641,"width":23,"height":6}},{"id":"65d3d93a-9b44-45e4-845b-870ec8760064","block_type":"box","text":"0.50","page_number":11,"box":{"x":379,"y":641,"width":22,"height":6}},{"id":"97eca2ae-e93a-4bad-a58f-797e05a306b9","block_type":"box","text":"4.96","page_number":11,"box":{"x":450,"y":641,"width":23,"height":6}},{"id":"1ceb0a35-5c88-403d-94a6-2f75ae13ac1e","block_type":"box","text":"Operating charges","page_number":11,"box":{"x":57,"y":668,"width":99,"height":8}},{"id":"dd13218a-782f-42e2-9cab-0922be5bbb5c","block_type":"box","text":"(0.29)","page_number":11,"box":{"x":232,"y":668,"width":31,"height":8}},{"id":"b77db028-770c-475c-b450-17712d9620ab","block_type":"box","text":"(0.57)","page_number":11,"box":{"x":304,"y":668,"width":30,"height":8}},{"id":"58ea752c-e515-437e-a20b-aec227851265","block_type":"box","text":"(0.58)","page_number":11,"box":{"x":375,"y":668,"width":30,"height":8}},{"id":"09c39573-fb2a-4165-8235-ca2f49cb4a74","block_type":"box","text":"(0.58)","page_number":11,"box":{"x":447,"y":668,"width":30,"height":8}},{"id":"5160c00a-c41c-4904-bb75-7528f92f0a39","block_type":"box","text":"Return after operating","page_number":11,"box":{"x":58,"y":685,"width":116,"height":8}},{"id":"3947a711-c890-40dd-a120-48f9a76597cb","block_type":"box","text":"charges*","page_number":11,"box":{"x":57,"y":695,"width":47,"height":8}},{"id":"ae0435ec-f3a9-47f4-8a3e-2ba41492c16c","block_type":"box","text":"0.79","page_number":11,"box":{"x":237,"y":686,"width":22,"height":6}},{"id":"2a61ded1-e0df-4391-adbd-fe559aad0e64","block_type":"box","text":"4.39","page_number":11,"box":{"x":307,"y":686,"width":23,"height":6}},{"id":"3da7103a-2445-4a6a-8eae-79e7b3933a6b","block_type":"box","text":"(0.08)","page_number":11,"box":{"x":375,"y":685,"width":30,"height":8}},{"id":"37dfb41e-fcf9-4652-8c00-773f54b47c10","block_type":"box","text":"4.38","page_number":11,"box":{"x":450,"y":686,"width":23,"height":6}},{"id":"85f12c1b-504f-4a5d-a798-eca163f7f1c8","block_type":"box","text":"Distributions on income","page_number":11,"box":{"x":58,"y":713,"width":124,"height":6}},{"id":"2e53c5ae-e407-49d3-be6d-ce4e77543762","block_type":"box","text":"shares","page_number":11,"box":{"x":57,"y":722,"width":35,"height":6}},{"id":"e1b8dddb-e925-442c-9b73-e1e6956b941b","block_type":"box","text":"(0.95)","page_number":11,"box":{"x":232,"y":712,"width":31,"height":8}},{"id":"d5c99f36-7345-4837-ab1f-312a6dea469a","block_type":"box","text":"(2.88)","page_number":11,"box":{"x":304,"y":712,"width":30,"height":8}},{"id":"a2c5ee53-73df-4313-a3fb-fdc5c8fcd97f","block_type":"box","text":"(3.19)","page_number":11,"box":{"x":377,"y":712,"width":28,"height":8}},{"id":"f1a64981-170c-4c03-ad47-b4fdca46d1d6","block_type":"box","text":"(2.77)","page_number":11,"box":{"x":447,"y":712,"width":30,"height":8}},{"id":"9a521b5a-d14e-4048-97df-d3bf52989718","block_type":"box","text":"Closing net asset","page_number":11,"box":{"x":57,"y":739,"width":100,"height":8}},{"id":"06424504-0fcb-48d9-bbad-dfb2e14d8d5e","block_type":"box","text":"value per share","page_number":11,"box":{"x":57,"y":749,"width":88,"height":8}},{"id":"3e0e3571-2de1-4041-aecc-03835e354e65","block_type":"box","text":"95.74","page_number":11,"box":{"x":230,"y":740,"width":29,"height":6}},{"id":"6561e604-843d-4dbd-859e-a7880b3cee59","block_type":"box","text":"95.90","page_number":11,"box":{"x":300,"y":740,"width":30,"height":6}},{"id":"40f5022f-6f7d-48cd-84a9-cf64afcaff3b","block_type":"box","text":"94.39","page_number":11,"box":{"x":372,"y":740,"width":29,"height":6}},{"id":"7983ef67-2f36-45bd-9a28-3fad66f52612","block_type":"box","text":"97.66","page_number":11,"box":{"x":444,"y":740,"width":29,"height":6}},{"id":"a0ac6819-107c-43c0-ab47-05e25876b02b","block_type":"box","text":"* after direct transaction","page_number":11,"box":{"x":57,"y":767,"width":127,"height":6}},{"id":"9b59de2e-cdbb-44e2-b739-75679f7c2be1","block_type":"box","text":"costs of:","page_number":11,"box":{"x":57,"y":777,"width":44,"height":6}},{"id":"f9588729-3275-4cf9-91ea-e3fbc6499fd8","block_type":"box","text":"–","page_number":11,"box":{"x":252,"y":771,"width":7,"height":0}},{"id":"aef24320-88c7-4685-ade9-070254e2a4e3","block_type":"box","text":"–","page_number":11,"box":{"x":324,"y":771,"width":6,"height":0}},{"id":"686553d0-9b89-4c0d-b866-c15421af9b7c","block_type":"box","text":"–","page_number":11,"box":{"x":395,"y":771,"width":7,"height":0}},{"id":"2ca78581-4805-4713-85b3-d7ee54073f69","block_type":"box","text":"–","page_number":11,"box":{"x":467,"y":771,"width":6,"height":0}},{"id":"777ce83d-33a5-4202-b5b0-50897189f300","block_type":"box","text":"Performance","page_number":11,"box":{"x":58,"y":792,"width":73,"height":6}},{"id":"2f4ff02d-87ea-4ec2-8184-f8c68e61b5ca","block_type":"box","text":"Return after charges","page_number":11,"box":{"x":58,"y":801,"width":108,"height":8}},{"id":"bf7f6423-2e5d-405d-9d8f-80abe05d9a2e","block_type":"box","text":"0.82%","page_number":11,"box":{"x":225,"y":801,"width":33,"height":7}},{"id":"a822bb0a-c3f6-4c86-90d6-e1b3f6653415","block_type":"box","text":"4.65%","page_number":11,"box":{"x":297,"y":801,"width":33,"height":7}},{"id":"84515825-ff56-41a2-a276-f05a93747627","block_type":"box","text":"(0.08)%","page_number":11,"box":{"x":366,"y":801,"width":40,"height":8}},{"id":"276105ec-8716-4113-b52b-d64b9ed3a0a9","block_type":"box","text":"4.56%","page_number":11,"box":{"x":439,"y":801,"width":34,"height":7}},{"id":"cd601d53-c008-4b69-b74a-5859fb421561","block_type":"box","text":"Other information","page_number":11,"box":{"x":57,"y":819,"width":102,"height":7}},{"id":"7402993f-b5c5-42ce-a357-8b7bf6d396af","block_type":"box","text":"Closing net asset value","page_number":11,"box":{"x":57,"y":829,"width":123,"height":8}},{"id":"a578d2e8-9683-4338-a8b3-a336dae46029","block_type":"box","text":"(£’000)","page_number":11,"box":{"x":57,"y":838,"width":37,"height":8}},{"id":"8bdb443e-c01b-4d25-9e7a-61018deb9266","block_type":"box","text":"144","page_number":11,"box":{"x":241,"y":829,"width":17,"height":6}},{"id":"f5731c91-d31d-4524-8e2d-dd23cc847f8e","block_type":"box","text":"181","page_number":11,"box":{"x":313,"y":829,"width":15,"height":6}},{"id":"76114366-5b99-43ca-bcfb-8273f546954e","block_type":"box","text":"187","page_number":11,"box":{"x":384,"y":829,"width":17,"height":6}},{"id":"28065d87-e18e-4108-b426-8e96e63ecd0e","block_type":"box","text":"174","page_number":11,"box":{"x":456,"y":829,"width":17,"height":6}},{"id":"744d80b3-e82c-4316-aea4-99b274a92362","block_type":"box","text":"Closing number of","page_number":11,"box":{"x":57,"y":848,"width":98,"height":8}},{"id":"ca8da104-6451-40a0-a40c-2494a05e9d0c","block_type":"box","text":"shares","page_number":11,"box":{"x":57,"y":857,"width":35,"height":6}},{"id":"6514ed7e-ed0e-477d-9208-39e1248e7d65","block_type":"box","text":"150,427","page_number":11,"box":{"x":220,"y":848,"width":39,"height":7}},{"id":"6d8879cd-63b8-40e4-9cb6-d6a3fbc790dd","block_type":"box","text":"188,290","page_number":11,"box":{"x":291,"y":848,"width":39,"height":7}},{"id":"ce30a504-e986-4100-a3e6-3a24055a14a3","block_type":"box","text":"197,882","page_number":11,"box":{"x":364,"y":848,"width":37,"height":7}},{"id":"be5a8869-27f4-4124-98d3-b8467ea18324","block_type":"box","text":"178,333","page_number":11,"box":{"x":434,"y":848,"width":39,"height":7}},{"id":"f337c5e7-ae9e-4911-a8d6-97d39f999006","block_type":"box","text":"Operating charges","page_number":11,"box":{"x":57,"y":867,"width":99,"height":8}},{"id":"9a9aefef-bd92-4348-9623-be6e9b931934","block_type":"box","text":"0.60%","page_number":11,"box":{"x":225,"y":867,"width":33,"height":6}},{"id":"ebdea669-03af-4375-83c7-389f48f5c668","block_type":"box","text":"0.60%","page_number":11,"box":{"x":297,"y":867,"width":33,"height":6}},{"id":"0ff3fcee-3c5f-4e0a-9b16-8d5feeb14adc","block_type":"box","text":"0.60%","page_number":11,"box":{"x":368,"y":867,"width":33,"height":6}},{"id":"77d1c234-3951-4614-80df-fc0b7603e799","block_type":"box","text":"0.60%","page_number":11,"box":{"x":440,"y":867,"width":33,"height":6}},{"id":"cd7587e1-62b0-408d-8963-2e60ada50573","block_type":"box","text":"Direct transaction costs","page_number":11,"box":{"x":58,"y":877,"width":125,"height":6}},{"id":"a6f22309-dda9-4424-bbca-6e0585a9b87d","block_type":"box","text":"–","page_number":11,"box":{"x":252,"y":880,"width":7,"height":1}},{"id":"bc1387a0-d92f-4a57-97e7-2539de6faefc","block_type":"box","text":"–","page_number":11,"box":{"x":324,"y":880,"width":6,"height":1}},{"id":"49b1bf60-01ea-4137-8bf9-b6e85706cf82","block_type":"box","text":"–","page_number":11,"box":{"x":395,"y":880,"width":7,"height":1}},{"id":"fd7611b3-adb3-438f-b53a-c49b58a472db","block_type":"box","text":"–","page_number":11,"box":{"x":467,"y":880,"width":6,"height":1}},{"id":"22a7d40a-4480-48e1-b31a-b4a7577f1a27","block_type":"box","text":"Prices","page_number":11,"box":{"x":58,"y":895,"width":35,"height":6}},{"id":"f9d4c611-357e-40ac-93b8-694e381337c7","block_type":"box","text":"^","page_number":11,"box":{"x":94,"y":895,"width":3,"height":2}},{"id":"28be8c73-e168-4660-b676-16e80ac30238","block_type":"box","text":"Highest share price","page_number":11,"box":{"x":58,"y":904,"width":102,"height":8}},{"id":"46771da1-47cc-4464-97b6-95fd9427c66a","block_type":"box","text":"97.97","page_number":11,"box":{"x":231,"y":904,"width":27,"height":6}},{"id":"e3f86b0d-4b2f-48db-ad54-04375b25fd77","block_type":"box","text":"97.73","page_number":11,"box":{"x":303,"y":904,"width":27,"height":6}},{"id":"63c68a3e-288a-48c6-be72-5e5ca11863b8","block_type":"box","text":"99.81","page_number":11,"box":{"x":372,"y":904,"width":28,"height":6}},{"id":"94a6e6bd-2d8e-4478-83df-4b8611b033f4","block_type":"box","text":"100.40","page_number":11,"box":{"x":438,"y":904,"width":35,"height":6}},{"id":"74064cf1-4a2a-4075-a4f9-01f51c7d340a","block_type":"box","text":"Lowest share price","page_number":11,"box":{"x":58,"y":914,"width":99,"height":8}},{"id":"738d5187-810f-46e3-a99d-3319d1456b5a","block_type":"box","text":"94.52","page_number":11,"box":{"x":229,"y":914,"width":29,"height":6}},{"id":"9d83d152-5f97-4e55-8dd3-963d537f9bcd","block_type":"box","text":"93.11","page_number":11,"box":{"x":303,"y":914,"width":25,"height":6}},{"id":"f20ba5b6-1be6-468d-b1d7-852505566171","block_type":"box","text":"95.14","page_number":11,"box":{"x":374,"y":914,"width":27,"height":6}},{"id":"c6cf5dac-971e-4bbb-a34a-f5063ad3d38f","block_type":"box","text":"92.34","page_number":11,"box":{"x":443,"y":914,"width":30,"height":6}},{"id":"a7ce5794-faa4-4a0c-a9bf-d77ccd5a895a","block_type":"box","text":"Class P Accumulation","page_number":11,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"ff04e6a1-ed3c-409c-bb58-44a833c02413","block_type":"box","text":"Change in net assets","page_number":11,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"54bc3b86-7b24-4188-bbeb-65aad6e2cdc3","block_type":"box","text":"30/06/26","page_number":11,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"da2062ae-6e36-4a0a-af9b-72e29ee6d3e2","block_type":"box","text":"31/12/25","page_number":11,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"94bf6b1a-f180-4979-9f40-90d27cee50c3","block_type":"box","text":"31/12/24","page_number":11,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"ddfd9d13-2256-4cf1-bfe3-79d0101289ac","block_type":"box","text":"31/12/23","page_number":11,"box":{"x":892,"y":177,"width":45,"height":6}},{"id":"e62c806d-a951-4806-b6f3-e42b8f1ff35d","block_type":"box","text":"per share","page_number":11,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"6fc1dcb1-eadf-4e23-9d46-2c774285ced3","block_type":"box","text":"(p)","page_number":11,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"9b2cad17-73e3-4660-be06-a0cd9dc180d9","block_type":"box","text":"(p)","page_number":11,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"e5d99931-7e61-4f52-be60-d8a8b410a625","block_type":"box","text":"(p)","page_number":11,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"b27ae4e9-2202-490c-9d71-3d675806d528","block_type":"box","text":"(p)","page_number":11,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"45e97105-befa-41db-88f6-44f9df4c4fa2","block_type":"box","text":"Opening net asset","page_number":11,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"7ad2da61-47b7-4ae0-b2f8-7a1bf2b69e75","block_type":"box","text":"value per share","page_number":11,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"6f49faf6-a143-42bd-a13c-7255e30dc0c0","block_type":"box","text":"104.20","page_number":11,"box":{"x":688,"y":205,"width":35,"height":6}},{"id":"2a599c83-deb9-4ef7-a793-36cdc186a924","block_type":"box","text":"99.50","page_number":11,"box":{"x":765,"y":205,"width":29,"height":6}},{"id":"4c2bb9a7-c8ce-4d36-8004-1d3374b8241b","block_type":"box","text":"99.51","page_number":11,"box":{"x":837,"y":205,"width":27,"height":6}},{"id":"2c0517d4-978e-46bb-aec9-f8e351235282","block_type":"box","text":"95.09","page_number":11,"box":{"x":908,"y":205,"width":29,"height":6}},{"id":"1a3c5f22-fc2d-4104-88e7-f90319a1a39e","block_type":"box","text":"Return before operating","page_number":11,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"3fdba476-0803-4f68-9afd-f2e8da506a01","block_type":"box","text":"charges*","page_number":11,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"e9d5adaf-49a8-408c-a42c-4e9d6072690a","block_type":"box","text":"1.16","page_number":11,"box":{"x":703,"y":232,"width":20,"height":6}},{"id":"ec77a862-6451-4d97-8265-0f3dd341850f","block_type":"box","text":"5.25","page_number":11,"box":{"x":772,"y":232,"width":22,"height":6}},{"id":"efaac3c6-bab3-4f55-bf85-b2af06119a07","block_type":"box","text":"0.53","page_number":11,"box":{"x":843,"y":232,"width":23,"height":6}},{"id":"b5363f8d-ee35-451c-80dc-cada93c0131e","block_type":"box","text":"4.94","page_number":11,"box":{"x":914,"y":232,"width":23,"height":6}},{"id":"e822ba42-a937-4d74-b91c-0c9bb280bfe4","block_type":"box","text":"Operating charges","page_number":11,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"22bd0f0f-c3d3-4987-aff9-19659d78379a","block_type":"box","text":"(0.29)","page_number":11,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"8285f170-db81-4e9d-9cb3-2149ae0a7e84","block_type":"box","text":"(0.55)","page_number":11,"box":{"x":768,"y":259,"width":30,"height":8}},{"id":"812ba2bc-2ffb-4d57-aa3e-b8b340d1b1ab","block_type":"box","text":"(0.54)","page_number":11,"box":{"x":840,"y":259,"width":30,"height":8}},{"id":"6dca89f7-63ec-4cd6-8791-372b57c27f96","block_type":"box","text":"(0.52)","page_number":11,"box":{"x":911,"y":259,"width":30,"height":8}},{"id":"3bda1c0d-0f8e-4cdd-9d3e-f23bc1669024","block_type":"box","text":"Return after operating","page_number":11,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"35851a3c-96b2-432c-904d-98be3833abf3","block_type":"box","text":"charges*","page_number":11,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"fc1ad1d3-942e-4184-a554-f1610b9e7b8c","block_type":"box","text":"0.87","page_number":11,"box":{"x":700,"y":276,"width":23,"height":6}},{"id":"f3f34726-bae6-4c35-95a7-c663eedbd64b","block_type":"box","text":"4.70","page_number":11,"box":{"x":772,"y":276,"width":22,"height":6}},{"id":"fa2d6d2b-33bb-427b-8b2e-6d7a562f28cb","block_type":"box","text":"(0.01)","page_number":11,"box":{"x":840,"y":276,"width":30,"height":8}},{"id":"16a48791-323e-41a8-bb85-74c11a8c1b29","block_type":"box","text":"4.42","page_number":11,"box":{"x":915,"y":276,"width":22,"height":6}},{"id":"17eab6aa-a2fc-464a-8ae8-79a873c3f10c","block_type":"box","text":"Distributions on","page_number":11,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"4c817883-2e36-4e64-9aad-ceddba4c9fad","block_type":"box","text":"accumulation shares","page_number":11,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"c4e18c49-a8fb-4ee4-a701-7b1ac340f801","block_type":"box","text":"(1.06)","page_number":11,"box":{"x":698,"y":303,"width":29,"height":8}},{"id":"d5e9102c-1ce8-4dc5-95c1-c67b9267aac3","block_type":"box","text":"(3.11)","page_number":11,"box":{"x":771,"y":303,"width":27,"height":8}},{"id":"ea07846f-f4e8-4f20-9d5b-cd342b66da1c","block_type":"box","text":"(3.34)","page_number":11,"box":{"x":840,"y":303,"width":30,"height":8}},{"id":"ec78fc42-98f5-4524-b05a-d9bbcf6d70b3","block_type":"box","text":"(2.81)","page_number":11,"box":{"x":912,"y":303,"width":29,"height":8}},{"id":"c289148b-05c3-42e3-bcbe-c01f6929544c","block_type":"box","text":"Retained distributions","page_number":11,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"34209b61-9be2-4cd5-9e5b-024dca13bff4","block_type":"box","text":"on accumulation shares","page_number":11,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"de4cc7ba-7457-4652-a5bd-7f41ff8456e6","block_type":"box","text":"1.06","page_number":11,"box":{"x":701,"y":330,"width":22,"height":6}},{"id":"d7d37ffe-8877-4c09-bf0f-1f40481b6acf","block_type":"box","text":"3.11","page_number":11,"box":{"x":774,"y":330,"width":19,"height":6}},{"id":"00d8ff9f-8a1d-49d7-83e3-3e3ba99a0136","block_type":"box","text":"3.34","page_number":11,"box":{"x":843,"y":330,"width":23,"height":6}},{"id":"a965192f-0695-49a4-9b0e-7699ecb38236","block_type":"box","text":"2.81","page_number":11,"box":{"x":915,"y":330,"width":20,"height":6}},{"id":"eb317fcc-6cde-4dc4-89d7-f99efcda051d","block_type":"box","text":"Closing net asset","page_number":11,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"d476118e-8f37-4ffe-a255-b8509bba3be8","block_type":"box","text":"value per share","page_number":11,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"9f8e2bc2-845e-4440-b928-3d97721c41e9","block_type":"box","text":"105.07","page_number":11,"box":{"x":688,"y":357,"width":35,"height":6}},{"id":"f99588db-0847-4d80-9537-c50848202591","block_type":"box","text":"104.20","page_number":11,"box":{"x":758,"y":357,"width":36,"height":6}},{"id":"51f7bb30-3f60-4516-a796-7311e3bf9110","block_type":"box","text":"99.50","page_number":11,"box":{"x":836,"y":357,"width":30,"height":6}},{"id":"55605f1a-3c27-4e54-8d7d-40e4c2815f3e","block_type":"box","text":"99.51","page_number":11,"box":{"x":908,"y":357,"width":28,"height":6}},{"id":"c69e2514-e719-4e0e-9a48-6b9688f5f3cb","block_type":"box","text":"* after direct transaction","page_number":11,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"0927aa50-c226-4962-b407-c2a9f88b4323","block_type":"box","text":"costs of:","page_number":11,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"edd20a17-7139-4f75-8c48-a9a763b018f8","block_type":"box","text":"–","page_number":11,"box":{"x":717,"y":389,"width":6,"height":0}},{"id":"424681a8-70f0-4e8f-936d-5d2750db3f38","block_type":"box","text":"–","page_number":11,"box":{"x":788,"y":389,"width":7,"height":0}},{"id":"902f2a7b-2f8f-44c1-80d3-9e624d770412","block_type":"box","text":"–","page_number":11,"box":{"x":860,"y":389,"width":6,"height":0}},{"id":"96ab8394-b7c3-43f9-9f02-15b86b96a5c8","block_type":"box","text":"–","page_number":11,"box":{"x":931,"y":389,"width":7,"height":0}},{"id":"09c8cb01-a392-4d20-8631-5c26eac64220","block_type":"box","text":"Performance","page_number":11,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"5357d644-7fb1-4f99-a45d-fed50ca9d3f1","block_type":"box","text":"Return after charges","page_number":11,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"a2d65ce6-ccf1-421e-9e8e-8222fef6adba","block_type":"box","text":"0.83%","page_number":11,"box":{"x":690,"y":419,"width":33,"height":7}},{"id":"b107b410-cf46-4993-a87a-f4ce22b6dd3b","block_type":"box","text":"4.72%","page_number":11,"box":{"x":761,"y":419,"width":33,"height":7}},{"id":"9f8717f8-11c2-4763-a729-585e70f0d5d4","block_type":"box","text":"(0.01)%","page_number":11,"box":{"x":831,"y":419,"width":39,"height":8}},{"id":"19653569-81e4-475d-98c7-45bf4e832486","block_type":"box","text":"4.65%","page_number":11,"box":{"x":904,"y":419,"width":33,"height":7}},{"id":"bce41168-ad3e-486b-8fbd-daa9618be814","block_type":"box","text":"Other information","page_number":11,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"762437f8-806c-4a4d-b8ba-21955a749649","block_type":"box","text":"Closing net asset value","page_number":11,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"aba68dcf-5194-4065-bd1d-3551084d70a8","block_type":"box","text":"(£’000)","page_number":11,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"5a728755-ee42-4b09-908a-6fbff163a062","block_type":"box","text":"5","page_number":11,"box":{"x":717,"y":447,"width":6,"height":6}},{"id":"34eee40d-04ab-44e0-9009-83e8c70bf654","block_type":"box","text":"5","page_number":11,"box":{"x":789,"y":447,"width":5,"height":6}},{"id":"51e1ffd2-68d2-44ce-8454-0f87a40bb094","block_type":"box","text":"5","page_number":11,"box":{"x":860,"y":447,"width":6,"height":6}},{"id":"fe14a0f0-1eeb-4204-b209-8a16b39eda92","block_type":"box","text":"5","page_number":11,"box":{"x":932,"y":447,"width":5,"height":6}},{"id":"81f48990-8e8d-45a6-8f56-2b6f6fed9f42","block_type":"box","text":"Closing number of","page_number":11,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"b36a12dd-3c54-47a9-a555-878b05ae4a4b","block_type":"box","text":"shares","page_number":11,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"b896e3a6-32d6-4e1c-81c8-c737a0e5ec57","block_type":"box","text":"4,878","page_number":11,"box":{"x":696,"y":466,"width":27,"height":7}},{"id":"ec4bfbd9-7db8-4be3-b03a-09d81308a6e8","block_type":"box","text":"4,878","page_number":11,"box":{"x":767,"y":466,"width":27,"height":7}},{"id":"43a34107-16f9-4465-8307-282b615aed9f","block_type":"box","text":"4,878","page_number":11,"box":{"x":838,"y":466,"width":28,"height":7}},{"id":"d4a890a9-b898-4807-84f9-3d814ad7d079","block_type":"box","text":"4,878","page_number":11,"box":{"x":910,"y":466,"width":27,"height":7}},{"id":"7ea6355d-5959-4576-9634-6b286df5bb8e","block_type":"box","text":"Operating charges","page_number":11,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"8b2ca171-2e91-4e81-b8f9-bc19c9740e95","block_type":"box","text":"0.55%","page_number":11,"box":{"x":690,"y":485,"width":33,"height":6}},{"id":"633ec17d-dbd8-4dd1-8899-0fa99ac070a8","block_type":"box","text":"0.55%","page_number":11,"box":{"x":761,"y":485,"width":33,"height":6}},{"id":"ceebd2fb-a814-48b0-a486-089f17a1b784","block_type":"box","text":"0.55%","page_number":11,"box":{"x":833,"y":485,"width":32,"height":6}},{"id":"bc2685c6-8fe7-42ff-8760-93cac29c8472","block_type":"box","text":"0.55%","page_number":11,"box":{"x":904,"y":485,"width":33,"height":6}},{"id":"f918c4f7-3beb-4529-b5ec-f33976bb8074","block_type":"box","text":"Direct transaction costs","page_number":11,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"34bba03f-6c81-4d36-996e-fdef00d51a76","block_type":"box","text":"–","page_number":11,"box":{"x":717,"y":498,"width":6,"height":1}},{"id":"cc7a29a4-8678-406d-9663-a7b038b5715d","block_type":"box","text":"–","page_number":11,"box":{"x":788,"y":498,"width":7,"height":1}},{"id":"980f9772-ebf9-47d7-ab3a-da58e0a5e916","block_type":"box","text":"–","page_number":11,"box":{"x":860,"y":498,"width":6,"height":1}},{"id":"7cadb271-0e16-42ce-a4aa-136923571391","block_type":"box","text":"–","page_number":11,"box":{"x":931,"y":498,"width":7,"height":1}},{"id":"6cd8b094-64e3-4215-a84d-c888bb56b9f6","block_type":"box","text":"Prices","page_number":11,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"76536850-1b4b-412d-a30b-f1cfebe3ebb2","block_type":"box","text":"^","page_number":11,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"146e80fa-acf5-4534-a88f-8f752cf036ef","block_type":"box","text":"Highest share price","page_number":11,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"9a189f3c-c07d-4369-a109-cacca47be4d7","block_type":"box","text":"106.40","page_number":11,"box":{"x":688,"y":522,"width":35,"height":6}},{"id":"2fe06766-3255-4605-be69-99b5462fa0d7","block_type":"box","text":"104.20","page_number":11,"box":{"x":759,"y":522,"width":35,"height":6}},{"id":"338e97ed-253c-4390-b007-2161ecc84f62","block_type":"box","text":"102.60","page_number":11,"box":{"x":831,"y":522,"width":35,"height":6}},{"id":"0878591e-af2c-4016-a838-74262cbfff5e","block_type":"box","text":"100.10","page_number":11,"box":{"x":903,"y":522,"width":34,"height":6}},{"id":"b440cefb-aae4-4a40-a484-69f15a02f692","block_type":"box","text":"Lowest share price","page_number":11,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"219f0ed9-89ab-4679-8e29-9abe43bba989","block_type":"box","text":"102.70","page_number":11,"box":{"x":688,"y":532,"width":35,"height":6}},{"id":"ccb7ea9c-46f7-457d-bc72-b9ed1e8ba118","block_type":"box","text":"98.04","page_number":11,"box":{"x":765,"y":532,"width":29,"height":6}},{"id":"07fa2546-cb94-4b17-8176-289aa5ebcef9","block_type":"box","text":"96.95","page_number":11,"box":{"x":836,"y":532,"width":30,"height":6}},{"id":"19ab1784-2a32-41e7-b923-965a21a644b1","block_type":"box","text":"92.06","page_number":11,"box":{"x":908,"y":532,"width":29,"height":6}},{"id":"ff840f09-57fe-4130-8021-2c79f3fe1979","block_type":"box","text":"Comparative Tables","page_number":11,"box":{"x":58,"y":94,"width":236,"height":14}},{"id":"c4ccefbd-f757-45df-88be-fa7ece0343d4","block_type":"box","text":"Royal London GMAP Diversified Bond Fund | Royal London Multi-Asset Funds ICVC","page_number":11,"box":{"x":465,"y":33,"width":448,"height":8}},{"id":"2d82363b-453e-4658-a5b4-bebc6b66e22b","block_type":"box","text":"11","page_number":11,"box":{"x":931,"y":33,"width":9,"height":6}},{"id":"14a777b5-84af-4971-8c0c-33f7d6268ec3","block_type":"box","text":"Comparative Tables","page_number":12,"box":{"x":58,"y":94,"width":236,"height":14}},{"id":"54ad798e-d245-43ee-898e-02f98b6fbc2a","block_type":"box","text":"(continued)","page_number":12,"box":{"x":300,"y":97,"width":75,"height":10}},{"id":"0c559c53-7ecf-411c-bd86-96b9b91b63de","block_type":"box","text":"Class R Accumulation","page_number":12,"box":{"x":57,"y":151,"width":203,"height":9}},{"id":"4628bbe9-dccd-4b3f-99da-14468895b642","block_type":"box","text":"Change in net assets","page_number":12,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"418abfaf-e481-40b1-b6f5-f2ffceb8971b","block_type":"box","text":"30/06/26","page_number":12,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"8f406311-a00a-4432-ba81-c74b79992a90","block_type":"box","text":"31/12/25","page_number":12,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"7fa8f88d-5364-4c35-ae74-8dd3dd714281","block_type":"box","text":"31/12/24","page_number":12,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"0d80389d-bc02-4c9c-ae8a-de002319a880","block_type":"box","text":"31/12/23","page_number":12,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"9e2de0a2-f0f9-4b3d-886d-d15dd31c7742","block_type":"box","text":"per share","page_number":12,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"dc0e7091-a5ca-427b-9905-0cb11c0dd075","block_type":"box","text":"(p)","page_number":12,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"83adf632-86a5-495f-9f8e-6d72005109ff","block_type":"box","text":"(p)","page_number":12,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"e11cf76f-4ff3-4699-bea5-125fff779b53","block_type":"box","text":"(p)","page_number":12,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"851936c7-9966-4804-b266-72aa7c937f72","block_type":"box","text":"(p)","page_number":12,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"337b0e48-ec85-48d7-a82f-c2e0fa71c1eb","block_type":"box","text":"Opening net asset","page_number":12,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"e25783e4-73d2-4aa3-a310-d1b0e2936e5a","block_type":"box","text":"value per share","page_number":12,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"5b8d5f81-f1ea-49f0-93aa-d7be8f315198","block_type":"box","text":"111.16","page_number":12,"box":{"x":227,"y":205,"width":31,"height":6}},{"id":"3b9c8a32-af89-453f-adf2-3f15990f61dd","block_type":"box","text":"105.70","page_number":12,"box":{"x":296,"y":205,"width":34,"height":6}},{"id":"88887830-a6ff-4c13-8513-c47ee67f3121","block_type":"box","text":"105.30","page_number":12,"box":{"x":366,"y":205,"width":35,"height":6}},{"id":"72ec3739-6068-4c0b-b0e1-c1cf0a186128","block_type":"box","text":"100.21","page_number":12,"box":{"x":438,"y":205,"width":33,"height":6}},{"id":"3610aa5c-9f71-46f4-8a14-af2e677de436","block_type":"box","text":"Return before operating","page_number":12,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"3f3e2eb7-132e-4669-92d4-435c095085bb","block_type":"box","text":"charges*","page_number":12,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"375842bf-c896-4a51-a91a-ce214fb767b3","block_type":"box","text":"1.25","page_number":12,"box":{"x":237,"y":232,"width":22,"height":6}},{"id":"3db292ad-0adf-4d64-a2c5-2cf1bcf0d5c6","block_type":"box","text":"5.59","page_number":12,"box":{"x":307,"y":232,"width":23,"height":6}},{"id":"841f5ec2-60a7-479d-907c-e34c13ee9b29","block_type":"box","text":"0.55","page_number":12,"box":{"x":379,"y":232,"width":22,"height":6}},{"id":"13a73d0f-cf49-4302-b715-9632deedb1f4","block_type":"box","text":"5.24","page_number":12,"box":{"x":450,"y":232,"width":23,"height":6}},{"id":"7a7fc1fb-84d1-4454-a1bb-85ff44ed7a8a","block_type":"box","text":"Operating charges","page_number":12,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"e415bdd8-fd40-4395-bdf4-4899ac8c038b","block_type":"box","text":"(0.07)","page_number":12,"box":{"x":233,"y":259,"width":30,"height":8}},{"id":"ef3a63bd-b504-47ad-984e-3317e0d3791d","block_type":"box","text":"(0.13)","page_number":12,"box":{"x":306,"y":259,"width":28,"height":8}},{"id":"f50c703c-2eee-42e3-ba9c-8bdd7e80f56e","block_type":"box","text":"(0.15)","page_number":12,"box":{"x":377,"y":259,"width":28,"height":8}},{"id":"aee39214-d03b-42a4-b5e5-4a3cc7af33be","block_type":"box","text":"(0.15)","page_number":12,"box":{"x":448,"y":259,"width":29,"height":8}},{"id":"2e8e0880-be00-4167-90a1-89f0eb9198e5","block_type":"box","text":"Return after operating","page_number":12,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"c8e50ed3-27a7-4ee5-8a55-db88f1dbd388","block_type":"box","text":"charges*","page_number":12,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"d3b383fa-5867-4d02-bfe1-a7c8059a9e65","block_type":"box","text":"1.18","page_number":12,"box":{"x":239,"y":276,"width":20,"height":6}},{"id":"fbf90c49-65c0-48d2-b27b-d434f69a1967","block_type":"box","text":"5.46","page_number":12,"box":{"x":307,"y":276,"width":23,"height":6}},{"id":"36790e8b-3dab-487b-a9be-b601ab0585e0","block_type":"box","text":"0.40","page_number":12,"box":{"x":379,"y":276,"width":22,"height":6}},{"id":"afa300d6-cc23-4478-bf0a-cff87381bf42","block_type":"box","text":"5.09","page_number":12,"box":{"x":450,"y":276,"width":23,"height":6}},{"id":"b1e2007d-efc0-4037-bd5a-d08e6a7486dc","block_type":"box","text":"Distributions on","page_number":12,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"87bcc0b7-c337-4797-a4b7-b99b87750049","block_type":"box","text":"accumulation shares","page_number":12,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"b92dda71-4691-4c06-8e0a-63812e3b97a7","block_type":"box","text":"(1.37)","page_number":12,"box":{"x":233,"y":303,"width":30,"height":8}},{"id":"f0527d32-e09d-41a9-b31b-559c4692332f","block_type":"box","text":"(3.77)","page_number":12,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"66be44d9-1020-4c7c-a58d-0263c97e4975","block_type":"box","text":"(3.96)","page_number":12,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"49f578ce-7179-4733-8094-795c63f6c892","block_type":"box","text":"(3.37)","page_number":12,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"6a3289f8-ddb7-40bd-bb90-6015a5104746","block_type":"box","text":"Retained distributions","page_number":12,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"35585738-e167-49fa-9f08-0dc5dc80e5d2","block_type":"box","text":"on accumulation shares","page_number":12,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"19edce89-14ca-49cb-9152-197a0d8bb813","block_type":"box","text":"1.37","page_number":12,"box":{"x":237,"y":330,"width":21,"height":6}},{"id":"11849144-653b-44bc-8096-6483cd301176","block_type":"box","text":"3.77","page_number":12,"box":{"x":308,"y":330,"width":22,"height":6}},{"id":"023bc917-d50d-4741-9de5-80b1ab9bd1c4","block_type":"box","text":"3.96","page_number":12,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"92ca3891-5d48-4972-a7c9-ad999239aa06","block_type":"box","text":"3.37","page_number":12,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"317d6b95-9b26-4c81-9a2d-da78361c8778","block_type":"box","text":"Closing net asset","page_number":12,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"75b33a97-b499-474c-ba7a-2dab893b673d","block_type":"box","text":"value per share","page_number":12,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"3bab0d9a-bdca-40b2-afac-ce813b5a2f7a","block_type":"box","text":"112.34","page_number":12,"box":{"x":224,"y":357,"width":35,"height":6}},{"id":"c772001e-4f03-41aa-965e-0ac36488d378","block_type":"box","text":"111.16","page_number":12,"box":{"x":298,"y":357,"width":32,"height":6}},{"id":"9f897488-2930-454f-b82c-9359db22f764","block_type":"box","text":"105.70","page_number":12,"box":{"x":367,"y":357,"width":34,"height":6}},{"id":"f8da36fc-0f69-414b-9e95-571c4cea91c3","block_type":"box","text":"105.30","page_number":12,"box":{"x":437,"y":357,"width":36,"height":6}},{"id":"a45eb1f8-7641-4e0c-84d5-176bda3ffb9b","block_type":"box","text":"* after direct transaction","page_number":12,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"9fb13d35-b67c-40f9-9d62-53b5cb9dcd6e","block_type":"box","text":"costs of:","page_number":12,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"ca861251-4646-4eba-950f-3db88a3c1ac3","block_type":"box","text":"–","page_number":12,"box":{"x":252,"y":389,"width":7,"height":0}},{"id":"bcd472ed-182a-4e3c-a7c1-c949b655fdc3","block_type":"box","text":"–","page_number":12,"box":{"x":324,"y":389,"width":6,"height":0}},{"id":"8368cd22-6d37-478d-83e1-27961b9b658c","block_type":"box","text":"–","page_number":12,"box":{"x":395,"y":389,"width":7,"height":0}},{"id":"902edc32-ce6c-441f-9361-99008819383c","block_type":"box","text":"–","page_number":12,"box":{"x":467,"y":389,"width":6,"height":0}},{"id":"042f602c-99e1-40da-8300-265ca27d8605","block_type":"box","text":"Performance","page_number":12,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"18664c4c-a0e9-47ae-a1a5-00ce4a3a39a9","block_type":"box","text":"Return after charges","page_number":12,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"bcffaf32-3fdc-48c5-995d-1ffb47bae400","block_type":"box","text":"1.06%","page_number":12,"box":{"x":227,"y":419,"width":31,"height":7}},{"id":"3bea2439-3f16-43ee-b207-416acd3b78cc","block_type":"box","text":"5.17%","page_number":12,"box":{"x":299,"y":419,"width":31,"height":7}},{"id":"e493da8c-eccc-4a7e-8c0a-13d1e438011f","block_type":"box","text":"0.38%","page_number":12,"box":{"x":368,"y":419,"width":33,"height":7}},{"id":"e6a6e6ee-6f7c-4a4b-963e-2264849b1d0f","block_type":"box","text":"5.08%","page_number":12,"box":{"x":440,"y":419,"width":33,"height":7}},{"id":"929f8081-8b82-435b-85bd-b1f8d2d68968","block_type":"box","text":"Other information","page_number":12,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"22e7fea4-e7e6-42d0-b4ac-0aa2bc1116b5","block_type":"box","text":"Closing net asset value","page_number":12,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"07177200-bc26-4bee-ab16-b338e2f6b336","block_type":"box","text":"(£’000)","page_number":12,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"bc1c9afe-5826-4363-8eec-7adf5b0711da","block_type":"box","text":"452,408","page_number":12,"box":{"x":215,"y":447,"width":44,"height":7}},{"id":"99b44178-1b98-401f-b49c-de558bcf74e1","block_type":"box","text":"430,793","page_number":12,"box":{"x":287,"y":447,"width":43,"height":7}},{"id":"2254bd62-4c14-4a0a-98ac-13ff09fb7c01","block_type":"box","text":"393,150","page_number":12,"box":{"x":360,"y":447,"width":41,"height":7}},{"id":"b9387d7d-82e7-4031-afcd-2f35048eb0c9","block_type":"box","text":"467,605","page_number":12,"box":{"x":431,"y":447,"width":42,"height":7}},{"id":"db495bd8-1c45-4e24-b4f1-7746036c586c","block_type":"box","text":"Closing number of","page_number":12,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"01ebc2d7-1483-4c04-91d8-17a740dd8f72","block_type":"box","text":"shares","page_number":12,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"33bb7c2e-9b26-41e1-a292-f69df4a759f2","block_type":"box","text":"402,724,110","page_number":12,"box":{"x":199,"y":466,"width":59,"height":7}},{"id":"d4bfc3b2-bb97-47f3-9c5c-9154e7b62ed8","block_type":"box","text":"387,557,360","page_number":12,"box":{"x":270,"y":466,"width":60,"height":7}},{"id":"bcec69cb-82ac-418f-9644-97a85d7c4498","block_type":"box","text":"371,953,558","page_number":12,"box":{"x":340,"y":466,"width":61,"height":7}},{"id":"b1036753-595c-42c1-82fd-a5a08104ad66","block_type":"box","text":"444,079,824","page_number":12,"box":{"x":411,"y":466,"width":62,"height":7}},{"id":"da6a6a22-fb19-42d9-97a1-07e5c9d71eb3","block_type":"box","text":"Operating charges","page_number":12,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"824e5175-af35-4d32-bd0e-fff52bfe4ab7","block_type":"box","text":"0.12%","page_number":12,"box":{"x":227,"y":485,"width":31,"height":6}},{"id":"f6f9a3e9-a042-4604-8ec3-841e58b09c81","block_type":"box","text":"0.12%","page_number":12,"box":{"x":298,"y":485,"width":32,"height":6}},{"id":"251ac2d7-e878-42bb-8ffa-83914aac14cb","block_type":"box","text":"0.12%","page_number":12,"box":{"x":366,"y":485,"width":31,"height":6}},{"id":"06586385-f776-408b-a5a1-550acd9ee9bc","block_type":"box","text":"#","page_number":12,"box":{"x":398,"y":485,"width":4,"height":3}},{"id":"964d5d2e-959e-4eb6-90bb-f055295ced49","block_type":"box","text":"0.15%","page_number":12,"box":{"x":441,"y":485,"width":32,"height":6}},{"id":"192ed0ea-fa1f-4539-b9f1-3c265e6ec223","block_type":"box","text":"Direct transaction costs","page_number":12,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"8e379f9a-913a-474e-ada4-d0126d607efc","block_type":"box","text":"–","page_number":12,"box":{"x":252,"y":498,"width":7,"height":1}},{"id":"67227ce0-d59f-4498-a191-64388c44c206","block_type":"box","text":"–","page_number":12,"box":{"x":324,"y":498,"width":6,"height":1}},{"id":"2e1b12ac-1f6c-4758-82ba-4813e922918b","block_type":"box","text":"–","page_number":12,"box":{"x":395,"y":498,"width":7,"height":1}},{"id":"a8cfa12a-20e5-4aad-994f-be0d736fc396","block_type":"box","text":"–","page_number":12,"box":{"x":467,"y":498,"width":6,"height":1}},{"id":"5da5dd2c-ff5a-4ddc-a6c6-c96e5a1523a3","block_type":"box","text":"Prices","page_number":12,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"b25eafb7-1337-44a9-8f30-6af583ecfada","block_type":"box","text":"^","page_number":12,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"92b24aa6-6cf9-42f8-8846-162e252902e0","block_type":"box","text":"Highest share price","page_number":12,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"ce6b63f8-193f-4f65-8b00-33ff4147fe0d","block_type":"box","text":"113.60","page_number":12,"box":{"x":225,"y":522,"width":33,"height":6}},{"id":"12855bbe-4758-4d92-9cd9-e71cfe342587","block_type":"box","text":"107.70","page_number":12,"box":{"x":297,"y":522,"width":33,"height":6}},{"id":"85da161a-bc1e-4cca-aef1-d1d1fad11f2b","block_type":"box","text":"108.90","page_number":12,"box":{"x":366,"y":522,"width":35,"height":6}},{"id":"89e8659a-abf3-4c6a-8ae9-c9258485c85e","block_type":"box","text":"105.90","page_number":12,"box":{"x":438,"y":522,"width":35,"height":6}},{"id":"6ab274e7-45b1-449a-a1f6-e98b2202c041","block_type":"box","text":"Lowest share price","page_number":12,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"0dc14279-d205-49b6-9a2a-84fe51c3c208","block_type":"box","text":"109.70","page_number":12,"box":{"x":224,"y":532,"width":34,"height":6}},{"id":"ccbdbd4f-31a8-4f96-92d0-d3faaa0ee1cc","block_type":"box","text":"101.20","page_number":12,"box":{"x":296,"y":532,"width":34,"height":6}},{"id":"6f8a8362-a3b8-4707-a92a-882c5dd15f33","block_type":"box","text":"102.60","page_number":12,"box":{"x":366,"y":532,"width":35,"height":6}},{"id":"372587b4-832e-4c98-9b4d-050ab5351079","block_type":"box","text":"97.34","page_number":12,"box":{"x":445,"y":532,"width":28,"height":6}},{"id":"bfd87fcb-254b-435c-b7f4-e71a11c34c7e","block_type":"box","text":"#","page_number":12,"box":{"x":57,"y":556,"width":3,"height":3}},{"id":"82e97cf2-e3b3-4eaa-83ed-338ca9cd27c2","block_type":"box","text":"The FMF changed from 0.15% to 0.12% on 23 September 2024.","page_number":12,"box":{"x":64,"y":556,"width":338,"height":7}},{"id":"12dc3333-ec2b-469b-b1b1-4bc255733f27","block_type":"box","text":"Class Z Accumulation","page_number":12,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"c604f0e0-534b-4f2c-ae92-f918637c75ac","block_type":"box","text":"Change in net assets","page_number":12,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"168170bd-9de4-4086-b35a-55674e18050a","block_type":"box","text":"30/06/26","page_number":12,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"6d680ff3-8d7e-49e0-bdba-4064dd5ff802","block_type":"box","text":"31/12/25","page_number":12,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"f20fb568-ac50-411a-97f9-c64ac65c5d34","block_type":"box","text":"31/12/24","page_number":12,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"32c61c28-e765-4e34-8210-98a00af74f3b","block_type":"box","text":"31/12/23**","page_number":12,"box":{"x":882,"y":177,"width":55,"height":6}},{"id":"32a4357f-fa6b-4019-bff5-0e6ba06758b9","block_type":"box","text":"per share","page_number":12,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"2cefe349-4871-49da-8643-b80467eb6cd1","block_type":"box","text":"(p)","page_number":12,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"5cb215ee-e419-48fa-a034-c905d5e0ba6a","block_type":"box","text":"(p)","page_number":12,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"95b166af-a010-4896-8634-ca1c19613e42","block_type":"box","text":"(p)","page_number":12,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"67fccc67-2649-4e94-9793-defaa7079fdf","block_type":"box","text":"(p)","page_number":12,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"dca76af8-3e20-4087-af61-d3a92c10733b","block_type":"box","text":"Opening net asset","page_number":12,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"d79e72de-4d9e-481d-9c95-b3a29bdd283f","block_type":"box","text":"value per share","page_number":12,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"151497e9-5ced-46ad-ba36-6916a4fc958b","block_type":"box","text":"107.72","page_number":12,"box":{"x":690,"y":205,"width":33,"height":6}},{"id":"cb671947-2044-4ad4-b77b-7dca043ea701","block_type":"box","text":"102.73","page_number":12,"box":{"x":760,"y":205,"width":34,"height":6}},{"id":"63d2326e-a75d-40d5-9e53-7bd105f390cb","block_type":"box","text":"102.61","page_number":12,"box":{"x":831,"y":205,"width":33,"height":6}},{"id":"5ee02d6f-dcf0-4d48-940e-188b89c348d2","block_type":"box","text":"100.00","page_number":12,"box":{"x":902,"y":205,"width":35,"height":6}},{"id":"29a781d9-eebd-458b-8341-0b8903d7afc5","block_type":"box","text":"Return before operating","page_number":12,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"8f108ff0-54f0-464b-9f08-fbc689339725","block_type":"box","text":"charges*","page_number":12,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"d2214e63-8c5d-4988-84b0-3f109cb50327","block_type":"box","text":"1.21","page_number":12,"box":{"x":702,"y":232,"width":19,"height":6}},{"id":"18df193d-3a87-4ee9-a69b-7a67118cf6de","block_type":"box","text":"5.42","page_number":12,"box":{"x":772,"y":232,"width":22,"height":6}},{"id":"f076a94f-0b4c-4e58-bc0c-51e5f689b797","block_type":"box","text":"0.54","page_number":12,"box":{"x":843,"y":232,"width":23,"height":6}},{"id":"00a58e8a-d2d6-45e9-ab5c-874cacdd9bc8","block_type":"box","text":"2.99","page_number":12,"box":{"x":914,"y":232,"width":23,"height":6}},{"id":"c9dffd94-1217-429d-81c7-a9d760c2683d","block_type":"box","text":"Operating charges","page_number":12,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"cf0eba39-a01f-4f99-b378-0c9c8ae2f5fb","block_type":"box","text":"(0.22)","page_number":12,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"e2c97711-66e9-4c51-9219-6044b762092e","block_type":"box","text":"(0.43)","page_number":12,"box":{"x":768,"y":259,"width":30,"height":8}},{"id":"04bee79b-5533-4c2d-9c35-5ce17289df6e","block_type":"box","text":"(0.42)","page_number":12,"box":{"x":840,"y":259,"width":30,"height":8}},{"id":"86fb9e7f-887a-4610-9347-f64c7baae5f4","block_type":"box","text":"(0.38)","page_number":12,"box":{"x":911,"y":259,"width":30,"height":8}},{"id":"2021e19c-2731-4292-b6b2-07f4368451ff","block_type":"box","text":"Return after operating","page_number":12,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"e83ecd7d-2f98-4b0d-ab48-d0d4a973d668","block_type":"box","text":"charges*","page_number":12,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"d4978ae2-3986-4f1c-b0ef-16b0610d0fb5","block_type":"box","text":"0.99","page_number":12,"box":{"x":700,"y":276,"width":23,"height":6}},{"id":"459a5b38-7378-4b2d-a341-560b4f10a4da","block_type":"box","text":"4.99","page_number":12,"box":{"x":771,"y":276,"width":23,"height":6}},{"id":"60a4c1d8-9068-4a6a-8454-7505b44ef79b","block_type":"box","text":"0.12","page_number":12,"box":{"x":845,"y":276,"width":21,"height":6}},{"id":"3928adab-e23a-44d7-b692-fb234fa0b99f","block_type":"box","text":"2.61","page_number":12,"box":{"x":915,"y":276,"width":20,"height":6}},{"id":"039e2b93-eaa9-45e1-80ac-b3517f382b3d","block_type":"box","text":"Distributions on","page_number":12,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"6edb3cfa-2874-44ec-af74-43245c01ad17","block_type":"box","text":"accumulation shares","page_number":12,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"bae9750d-d564-45fe-a7ed-342368531996","block_type":"box","text":"(1.18)","page_number":12,"box":{"x":699,"y":303,"width":28,"height":8}},{"id":"663defff-bd3a-418d-9705-24815cb671b3","block_type":"box","text":"(3.35)","page_number":12,"box":{"x":768,"y":303,"width":30,"height":8}},{"id":"5ca57d3e-8bcb-40c4-8dba-7dd5b233c2d6","block_type":"box","text":"(3.57)","page_number":12,"box":{"x":839,"y":303,"width":31,"height":8}},{"id":"dd14196c-5728-4b1a-80c4-84bcaf1df17e","block_type":"box","text":"(2.98)","page_number":12,"box":{"x":911,"y":303,"width":30,"height":8}},{"id":"59d6f452-c62e-40f7-8c8c-dea4caf3daf2","block_type":"box","text":"Retained distributions","page_number":12,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"825b1110-6b54-4f38-9055-ce6bb57b488d","block_type":"box","text":"on accumulation shares","page_number":12,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"25de5f95-0629-4961-a786-11fe0459bcc8","block_type":"box","text":"1.18","page_number":12,"box":{"x":703,"y":330,"width":20,"height":6}},{"id":"a168a178-a3a4-4134-ad86-348165f6bee2","block_type":"box","text":"3.35","page_number":12,"box":{"x":772,"y":330,"width":22,"height":6}},{"id":"59f9404d-c826-4b6f-8083-fcab4cec7674","block_type":"box","text":"3.57","page_number":12,"box":{"x":843,"y":330,"width":23,"height":6}},{"id":"7de5cd37-1674-4c66-a2af-cc49b654cad0","block_type":"box","text":"2.98","page_number":12,"box":{"x":914,"y":330,"width":23,"height":6}},{"id":"d016a4c2-b716-4240-ae28-7365bf9031b6","block_type":"box","text":"Closing net asset","page_number":12,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"adb50e07-0b25-4a12-bcb6-e8b457fb45c9","block_type":"box","text":"value per share","page_number":12,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"c86246be-19d7-4f87-8be7-a366ebf75103","block_type":"box","text":"108.71","page_number":12,"box":{"x":688,"y":357,"width":33,"height":6}},{"id":"6d9b0434-c5bd-4686-8581-c32cf1ee4b26","block_type":"box","text":"107.72","page_number":12,"box":{"x":761,"y":357,"width":33,"height":6}},{"id":"20c4686e-6209-46c8-8945-3c319936dfc4","block_type":"box","text":"102.73","page_number":12,"box":{"x":831,"y":357,"width":35,"height":6}},{"id":"1e4f558b-84aa-4886-8eff-072a5422d4ae","block_type":"box","text":"102.61","page_number":12,"box":{"x":902,"y":357,"width":34,"height":6}},{"id":"167323c5-747a-4161-9cb9-8d563e59cf8b","block_type":"box","text":"* after direct transaction","page_number":12,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"d325c5dc-5a38-4102-b883-b4745748c3a3","block_type":"box","text":"costs of:","page_number":12,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"bfd02c20-936d-47f0-8138-f5108f2b7101","block_type":"box","text":"–","page_number":12,"box":{"x":717,"y":389,"width":6,"height":0}},{"id":"af5f1396-aac5-49ff-9af4-e78cdb0fe658","block_type":"box","text":"–","page_number":12,"box":{"x":788,"y":389,"width":7,"height":0}},{"id":"50c8835c-e16d-489c-a021-e5d206a8932b","block_type":"box","text":"–","page_number":12,"box":{"x":860,"y":389,"width":6,"height":0}},{"id":"95d4eb4b-99ec-473a-a187-4de7775493d2","block_type":"box","text":"–","page_number":12,"box":{"x":931,"y":389,"width":7,"height":0}},{"id":"375af9d2-5e6e-4277-b44e-6f546aaa0ca2","block_type":"box","text":"Performance","page_number":12,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"a1d68dbe-81ea-4bed-a674-38cd8c4b18b7","block_type":"box","text":"Return after charges","page_number":12,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"848eb62a-0060-4771-8b8f-1d2ba4970031","block_type":"box","text":"0.92%","page_number":12,"box":{"x":690,"y":419,"width":33,"height":7}},{"id":"225b9c4c-3c80-4a76-8c12-71e051517746","block_type":"box","text":"4.86%","page_number":12,"box":{"x":761,"y":419,"width":33,"height":7}},{"id":"b26ab4de-dafe-43a5-9a92-5931f25ab068","block_type":"box","text":"0.12%","page_number":12,"box":{"x":834,"y":419,"width":31,"height":7}},{"id":"a4e3730b-6e71-46e6-8c56-a280676088e4","block_type":"box","text":"2.61%","page_number":12,"box":{"x":905,"y":419,"width":32,"height":7}},{"id":"1fa5ec10-2319-405a-bf22-b7bc7bd65e40","block_type":"box","text":"Other information","page_number":12,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"29f15518-37d6-4d9a-aabd-f2af823d9d34","block_type":"box","text":"Closing net asset value","page_number":12,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"7ec479df-7467-423d-9626-ce8c60a6d023","block_type":"box","text":"(£’000)","page_number":12,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"abaf4982-e746-4cda-9938-5a20a6d22ca1","block_type":"box","text":"3","page_number":12,"box":{"x":717,"y":447,"width":6,"height":6}},{"id":"6569d963-16a5-438b-ac2c-655b69af3817","block_type":"box","text":"3","page_number":12,"box":{"x":789,"y":447,"width":5,"height":6}},{"id":"66adcec6-85df-4a49-8f8d-73c2a10776d3","block_type":"box","text":"2","page_number":12,"box":{"x":860,"y":447,"width":6,"height":6}},{"id":"8c8ceba4-0445-435b-9065-87163384e8b2","block_type":"box","text":"3","page_number":12,"box":{"x":932,"y":447,"width":5,"height":6}},{"id":"6aef2807-0d0e-4059-9a59-7e82dab04a62","block_type":"box","text":"Closing number of","page_number":12,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"2d2820e1-2126-43e9-829a-717524c44313","block_type":"box","text":"shares","page_number":12,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"9c0784ce-41de-4796-9310-9ea290cb86e6","block_type":"box","text":"2,500","page_number":12,"box":{"x":693,"y":466,"width":30,"height":7}},{"id":"b476a3b7-94cb-4558-bd88-5d9f1bdef34f","block_type":"box","text":"2,500","page_number":12,"box":{"x":764,"y":466,"width":30,"height":7}},{"id":"df30c638-6f92-42be-8512-3bfda44cdde1","block_type":"box","text":"2,500","page_number":12,"box":{"x":836,"y":466,"width":30,"height":7}},{"id":"d2c87470-9b4c-4d42-9d28-e6c86784c7b5","block_type":"box","text":"2,500","page_number":12,"box":{"x":907,"y":466,"width":30,"height":7}},{"id":"61b55712-e531-48c2-b935-12a061e50e9a","block_type":"box","text":"Operating charges","page_number":12,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"f60412c3-a302-4cd0-ab1b-240cc6467728","block_type":"box","text":"0.40%","page_number":12,"box":{"x":690,"y":485,"width":33,"height":6}},{"id":"4312f5e2-9180-436f-bce9-f1edc7025e5c","block_type":"box","text":"0.40%","page_number":12,"box":{"x":761,"y":485,"width":33,"height":6}},{"id":"3d18355b-d2b2-490a-a2fb-b88a920142ae","block_type":"box","text":"0.40%","page_number":12,"box":{"x":833,"y":485,"width":32,"height":6}},{"id":"559cfb92-d79f-45a7-8ce4-a45d9b3682d4","block_type":"box","text":"0.40%","page_number":12,"box":{"x":904,"y":485,"width":33,"height":6}},{"id":"d5a4a123-8528-4b7d-9213-6067ba5170b7","block_type":"box","text":"Direct transaction costs","page_number":12,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"7ae12b21-339c-4fc3-87b7-e9c10c78856e","block_type":"box","text":"–","page_number":12,"box":{"x":717,"y":498,"width":6,"height":1}},{"id":"5794aa9e-6414-4c0c-a155-3d6dc02695f1","block_type":"box","text":"–","page_number":12,"box":{"x":788,"y":498,"width":7,"height":1}},{"id":"f24192cb-3e5a-4a00-b610-604c83d1a3b9","block_type":"box","text":"–","page_number":12,"box":{"x":860,"y":498,"width":6,"height":1}},{"id":"a8b620e3-89f4-4350-aeee-33df536947fa","block_type":"box","text":"–","page_number":12,"box":{"x":931,"y":498,"width":7,"height":1}},{"id":"7aaa9f75-6c70-4824-b9f4-e69426be9bd9","block_type":"box","text":"Prices","page_number":12,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"39349133-e73f-474f-8535-063efb3814e5","block_type":"box","text":"^","page_number":12,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"41852b27-4edf-4dbf-80cc-a0343709a7d0","block_type":"box","text":"Highest share price","page_number":12,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"a53bc1e5-74de-4e74-ba48-bafe662a382f","block_type":"box","text":"110.10","page_number":12,"box":{"x":690,"y":522,"width":33,"height":6}},{"id":"3a6a8955-726c-4907-b58a-44fc49a36ae8","block_type":"box","text":"111.20","page_number":12,"box":{"x":761,"y":522,"width":33,"height":6}},{"id":"c1f0aa42-ddf3-4628-b6e2-36595e50cd05","block_type":"box","text":"105.90","page_number":12,"box":{"x":830,"y":522,"width":36,"height":6}},{"id":"a9c133b5-cc9e-484a-881a-205f7837aecb","block_type":"box","text":"103.20","page_number":12,"box":{"x":902,"y":522,"width":35,"height":6}},{"id":"017fd92e-ce83-4560-bf28-32c79808984e","block_type":"box","text":"Lowest share price","page_number":12,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"0e83d91f-2d2a-491b-b307-bcb78b5c8bca","block_type":"box","text":"106.20","page_number":12,"box":{"x":687,"y":532,"width":36,"height":6}},{"id":"0a07b46a-070c-4787-a432-9d1e69a8d7fb","block_type":"box","text":"104.20","page_number":12,"box":{"x":759,"y":532,"width":35,"height":6}},{"id":"e3b72fa1-3379-436a-b23a-6d2bc8d2f7bc","block_type":"box","text":"99.98","page_number":12,"box":{"x":836,"y":532,"width":30,"height":6}},{"id":"19388b03-221c-42ea-a39b-ae8a03c5b0f3","block_type":"box","text":"94.91","page_number":12,"box":{"x":908,"y":532,"width":27,"height":6}},{"id":"d879b33d-0a43-423f-94cd-21b1444b5b0d","block_type":"box","text":"** Class Z Accumulation launched on 31 January 2023.","page_number":12,"box":{"x":521,"y":556,"width":293,"height":7}},{"id":"05ce8231-d8d3-4751-864b-32eb5d4168b1","block_type":"box","text":"^","page_number":12,"box":{"x":521,"y":570,"width":3,"height":2}},{"id":"5b671f0b-7604-4d4a-8dd3-9af00c43a664","block_type":"box","text":"The high and low prices disclosed are the high and low prices for the accounting","page_number":12,"box":{"x":527,"y":570,"width":415,"height":8}},{"id":"fd838557-262c-4054-9597-365dc87bf3f8","block_type":"box","text":"period and not the calendar year.","page_number":12,"box":{"x":522,"y":581,"width":174,"height":7}},{"id":"224a0c04-8701-4797-9250-b606e5562861","block_type":"box","text":"From 3 June 2019, the Fund has received a full rebate of","page_number":12,"box":{"x":522,"y":598,"width":421,"height":10}},{"id":"8185992f-4d94-4c20-8316-33c3dbfd7677","block_type":"box","text":"synthetic costs to maintain the Fund Management Fee at a","page_number":12,"box":{"x":521,"y":612,"width":421,"height":10}},{"id":"e32f81c7-af4a-42d1-8dca-99fd8da58211","block_type":"box","text":"fixed level.","page_number":12,"box":{"x":521,"y":625,"width":71,"height":8}},{"id":"3ce1de28-920c-45ad-b29a-144e5b1329ef","block_type":"box","text":"It should be noted that past performance is not a reliable","page_number":12,"box":{"x":522,"y":641,"width":420,"height":10}},{"id":"2faba4d2-ce02-4ead-843b-cd3ccaeb8f65","block_type":"box","text":"indicator of future performance and that the value of shares,","page_number":12,"box":{"x":522,"y":654,"width":419,"height":10}},{"id":"76ad702e-2186-4091-8dba-80c8b2559664","block_type":"box","text":"and the income derived from them, can vary.","page_number":12,"box":{"x":521,"y":667,"width":303,"height":10}},{"id":"f87c98f3-9792-4441-9be3-856f4ec37eaf","block_type":"box","text":"Royal London GMAP Diversified Bond Fund | Royal London Multi-Asset Funds ICVC","page_number":12,"box":{"x":465,"y":33,"width":448,"height":8}},{"id":"a6640c30-45a3-4d13-b572-6d9d43a2c5c0","block_type":"box","text":"12","page_number":12,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"d3a06443-bfc3-428b-b416-3e02cd9d1a4f","block_type":"box","text":"Portfolio Statement","page_number":13,"box":{"x":58,"y":94,"width":233,"height":11}},{"id":"74514011-9321-4c92-b5ee-a16af9955eef","block_type":"box","text":"As at 30","page_number":13,"box":{"x":57,"y":113,"width":55,"height":8}},{"id":"c9cbc946-b3da-4819-ad80-b3f11f27da4d","block_type":"box","text":"June 2026","page_number":13,"box":{"x":117,"y":113,"width":70,"height":8}},{"id":"26b24b40-3987-4c87-9832-2a8ef9607103","block_type":"box","text":"Bond Collective Investment Schemes – 99.61% (99.23%)","page_number":13,"box":{"x":58,"y":201,"width":319,"height":8}},{"id":"f9f89fe7-a8f9-4d2e-b1c6-874ffa96d968","block_type":"box","text":"£21,578,199","page_number":13,"box":{"x":65,"y":211,"width":65,"height":7}},{"id":"27ccc6fd-da2a-47e3-8bd7-aabd091f50a7","block_type":"box","text":"Royal London Absolute Return","page_number":13,"box":{"x":139,"y":211,"width":157,"height":8}},{"id":"82cf624d-2808-4eb8-b86f-bf3ac075e8a4","block_type":"box","text":"Government Bond Fund R Acc","page_number":13,"box":{"x":138,"y":220,"width":159,"height":7}},{"id":"23342405-29ba-4251-89e0-133218ab57f1","block_type":"box","text":"†","page_number":13,"box":{"x":297,"y":220,"width":4,"height":5}},{"id":"f2632a4b-d26f-494a-967f-22338b9f3bfa","block_type":"box","text":"28,518","page_number":13,"box":{"x":364,"y":220,"width":35,"height":8}},{"id":"69e695c9-d4b1-4b4f-9245-0df7c83871f0","block_type":"box","text":"6.29","page_number":13,"box":{"x":450,"y":220,"width":22,"height":7}},{"id":"1aca37c1-9e2f-4bec-89fe-2315838d52f6","block_type":"box","text":"£14,231,594","page_number":13,"box":{"x":65,"y":230,"width":65,"height":7}},{"id":"2e41c4ef-baf7-447c-a870-cf2ac3910575","block_type":"box","text":"Royal London Ethical Bond Fund R Acc","page_number":13,"box":{"x":139,"y":230,"width":204,"height":8}},{"id":"05001a11-a546-43fa-960e-3de8f41b2e7f","block_type":"box","text":"†","page_number":13,"box":{"x":344,"y":230,"width":3,"height":4}},{"id":"8b3f09a4-60b5-49e6-a2e2-dfd36a4f37f4","block_type":"box","text":"18,150","page_number":13,"box":{"x":365,"y":230,"width":34,"height":7}},{"id":"638261f0-fdbc-451e-bcd9-3e9027b759a3","block_type":"box","text":"4.00","page_number":13,"box":{"x":450,"y":230,"width":22,"height":6}},{"id":"cc343236-52c7-450e-b032-8e510f192ef8","block_type":"box","text":"£11,251,525","page_number":13,"box":{"x":66,"y":239,"width":64,"height":8}},{"id":"6ec0348a-7030-41ee-8d0d-e74ca7c2182e","block_type":"box","text":"Royal London Global Government Bond","page_number":13,"box":{"x":139,"y":239,"width":206,"height":8}},{"id":"d22bb6af-d269-45c7-94fa-294242956a03","block_type":"box","text":"Fund R Acc","page_number":13,"box":{"x":139,"y":249,"width":59,"height":6}},{"id":"591dbb73-3e38-4d98-a2ca-c71793c5073d","block_type":"box","text":"†","page_number":13,"box":{"x":199,"y":249,"width":3,"height":4}},{"id":"f6326e31-16c8-458a-be74-2a81b992eaf2","block_type":"box","text":"11,362","page_number":13,"box":{"x":366,"y":249,"width":33,"height":7}},{"id":"0634263a-ea72-474c-95c1-00f96e4bae34","block_type":"box","text":"2.50","page_number":13,"box":{"x":450,"y":249,"width":22,"height":6}},{"id":"0dc800ca-e190-4cff-8827-1b0792df0681","block_type":"box","text":"£32,667,063","page_number":13,"box":{"x":65,"y":258,"width":65,"height":8}},{"id":"74bfc968-ba15-4b41-a266-358c10e5f38a","block_type":"box","text":"Royal London Global Sustainable Credit","page_number":13,"box":{"x":139,"y":258,"width":208,"height":8}},{"id":"1893c7a5-0b0b-4871-a97a-b6dc4ac1bf86","block_type":"box","text":"Fund R Acc","page_number":13,"box":{"x":139,"y":268,"width":59,"height":6}},{"id":"d8cb209a-dad2-4158-89f7-3470e8da3ee3","block_type":"box","text":"†","page_number":13,"box":{"x":199,"y":268,"width":3,"height":4}},{"id":"6b2f821b-2dcf-4e3e-88da-59f579b95980","block_type":"box","text":"33,970","page_number":13,"box":{"x":364,"y":268,"width":35,"height":7}},{"id":"9f69a602-836f-4aa4-befd-277b7a28a335","block_type":"box","text":"7.49","page_number":13,"box":{"x":451,"y":268,"width":21,"height":6}},{"id":"b0b0bc18-426c-4b9a-8766-350a2f63364a","block_type":"box","text":"£110,944,786","page_number":13,"box":{"x":60,"y":277,"width":70,"height":8}},{"id":"7a88f13e-69b2-4e08-82b4-9c7ca644f83c","block_type":"box","text":"Royal London Index Linked Fund R Acc","page_number":13,"box":{"x":139,"y":278,"width":205,"height":7}},{"id":"3efdab30-4f60-4c7c-a5da-a174300b0bf2","block_type":"box","text":"†","page_number":13,"box":{"x":344,"y":278,"width":4,"height":4}},{"id":"ce22a3c5-b737-44c9-96cf-dd0ef517e09e","block_type":"box","text":"90,625","page_number":13,"box":{"x":364,"y":278,"width":35,"height":7}},{"id":"b833de86-6e8a-4450-a8ad-7c47b839fea0","block_type":"box","text":"19.97","page_number":13,"box":{"x":445,"y":278,"width":27,"height":6}},{"id":"69aba0c0-bfa8-4570-9e3d-3482aec4eed3","block_type":"box","text":"£19,830,564","page_number":13,"box":{"x":65,"y":287,"width":65,"height":7}},{"id":"50051d89-cc71-444a-9f26-25e7abae3c71","block_type":"box","text":"Royal London International Government","page_number":13,"box":{"x":139,"y":287,"width":207,"height":8}},{"id":"fe54abff-8be0-4208-a037-c24c2302d5c0","block_type":"box","text":"Bond Fund R Acc","page_number":13,"box":{"x":138,"y":297,"width":91,"height":6}},{"id":"1c3c6f5f-8bfe-4c1f-b091-93d6e06c1ce2","block_type":"box","text":"†","page_number":13,"box":{"x":229,"y":297,"width":4,"height":4}},{"id":"39c287db-7f9e-475c-b946-596a2abe3e31","block_type":"box","text":"22,680","page_number":13,"box":{"x":364,"y":297,"width":35,"height":7}},{"id":"6e23f9be-c693-4ca0-bd8a-8ef1817cf144","block_type":"box","text":"5.00","page_number":13,"box":{"x":450,"y":297,"width":22,"height":6}},{"id":"ab6cb782-d147-4440-aa55-715e45fba20e","block_type":"box","text":"£17,743,156","page_number":13,"box":{"x":65,"y":306,"width":65,"height":7}},{"id":"324f1a1b-8df3-4335-8f7e-e9fdab6eac8d","block_type":"box","text":"Royal London Short Duration Global","page_number":13,"box":{"x":139,"y":306,"width":187,"height":8}},{"id":"bd549962-1aec-40a5-9d04-541bb39d2bf5","block_type":"box","text":"Index Linked Fund R Acc","page_number":13,"box":{"x":139,"y":316,"width":129,"height":6}},{"id":"f6ae9029-2e83-4d85-936d-eaf469002d44","block_type":"box","text":"†","page_number":13,"box":{"x":269,"y":316,"width":3,"height":4}},{"id":"67b2f066-cfda-4a3b-8b47-f95cabbbc6a4","block_type":"box","text":"22,562","page_number":13,"box":{"x":364,"y":316,"width":35,"height":7}},{"id":"48df1f21-722a-44fc-ab9b-fea85ec70fd9","block_type":"box","text":"4.97","page_number":13,"box":{"x":450,"y":316,"width":22,"height":6}},{"id":"dd645008-2aaa-4f66-be85-96f784260067","block_type":"box","text":"£20,186,360","page_number":13,"box":{"x":65,"y":325,"width":65,"height":7}},{"id":"60c78956-5745-479d-a5e3-26e8c554dd04","block_type":"box","text":"Royal London Short-Term Money","page_number":13,"box":{"x":139,"y":325,"width":171,"height":8}},{"id":"a987d740-1a02-4e85-a656-261a7cb5b82d","block_type":"box","text":"Market Fund R Acc","page_number":13,"box":{"x":138,"y":335,"width":99,"height":6}},{"id":"ea0c3873-f21d-4729-9c72-bec2a3821c22","block_type":"box","text":"†","page_number":13,"box":{"x":238,"y":335,"width":3,"height":4}},{"id":"90ebd97e-9d5b-4feb-ae58-ab3f8e82843b","block_type":"box","text":"24,437","page_number":13,"box":{"x":364,"y":335,"width":35,"height":7}},{"id":"781623e1-62b5-4434-9d24-9024d65230ed","block_type":"box","text":"5.39","page_number":13,"box":{"x":450,"y":335,"width":22,"height":6}},{"id":"14468a6e-8b1e-4c40-850f-2e254673f205","block_type":"box","text":"£46,993,720","page_number":13,"box":{"x":65,"y":344,"width":65,"height":7}},{"id":"f4436e80-e950-46a7-a874-a6668cf2b315","block_type":"box","text":"Royal London Sterling Liquidity Money","page_number":13,"box":{"x":139,"y":344,"width":199,"height":8}},{"id":"d29c2273-0ccd-49d0-b167-01b6376b4b63","block_type":"box","text":"Market Fund R Inc","page_number":13,"box":{"x":138,"y":354,"width":96,"height":6}},{"id":"876a6be0-af34-44a9-acd2-84003238bed8","block_type":"box","text":"†","page_number":13,"box":{"x":235,"y":354,"width":3,"height":4}},{"id":"b75b0101-006d-4478-a026-c24f0f2920fe","block_type":"box","text":"46,994","page_number":13,"box":{"x":364,"y":354,"width":35,"height":7}},{"id":"6fc0356d-ada7-48dd-a003-26130b289c79","block_type":"box","text":"10.36","page_number":13,"box":{"x":445,"y":354,"width":27,"height":6}},{"id":"e85592e9-bb32-4df8-94da-ce7d1647ed92","block_type":"box","text":"£39,131,011","page_number":13,"box":{"x":66,"y":363,"width":62,"height":7}},{"id":"86147a2f-ece9-47b7-995a-afc342640c6b","block_type":"box","text":"Royal London Sustainable Corporate","page_number":13,"box":{"x":139,"y":363,"width":191,"height":8}},{"id":"b7231868-0e5e-44f9-aa18-8be38b6857ff","block_type":"box","text":"Bond Trust D Acc","page_number":13,"box":{"x":138,"y":373,"width":90,"height":6}},{"id":"2105d2e1-e2e3-42e9-aa23-eff2eac5637a","block_type":"box","text":"†","page_number":13,"box":{"x":229,"y":373,"width":3,"height":4}},{"id":"e13bb693-0d5f-41cd-99b7-6128b3f50ee5","block_type":"box","text":"61,610","page_number":13,"box":{"x":364,"y":373,"width":35,"height":7}},{"id":"317e321c-226e-420d-9b72-dc8b38dedf35","block_type":"box","text":"13.58","page_number":13,"box":{"x":445,"y":373,"width":27,"height":6}},{"id":"96527933-de82-4e49-ae17-889329b9e419","block_type":"box","text":"£94,783,717","page_number":13,"box":{"x":65,"y":382,"width":65,"height":7}},{"id":"82c33a2e-bcd7-487d-8dab-a30815685b15","block_type":"box","text":"Royal London UK Government Bond","page_number":13,"box":{"x":139,"y":382,"width":189,"height":8}},{"id":"80ac78cc-8178-439d-a3ed-3ed58cfc4dc1","block_type":"box","text":"Fund R Acc","page_number":13,"box":{"x":139,"y":392,"width":59,"height":6}},{"id":"baf22ea9-9616-45b6-90e4-0d5c2419f741","block_type":"box","text":"†","page_number":13,"box":{"x":199,"y":392,"width":3,"height":4}},{"id":"6af95fb0-b907-457c-985e-42090e3cbbab","block_type":"box","text":"91,019","page_number":13,"box":{"x":364,"y":392,"width":35,"height":7}},{"id":"ce637b7f-7934-4e47-8162-71d5fe5e5720","block_type":"box","text":"20.06","page_number":13,"box":{"x":444,"y":392,"width":28,"height":6}},{"id":"bad625bb-3f4b-40f1-afb8-f436168019b9","block_type":"box","text":"Total Bond Collective Investment Schemes","page_number":13,"box":{"x":57,"y":408,"width":239,"height":6}},{"id":"0cc6578e-954d-47b4-8c01-5bd6305ef542","block_type":"box","text":"451,927","page_number":13,"box":{"x":357,"y":408,"width":42,"height":7}},{"id":"c931e49a-0d4e-437a-b28f-b550cdcf2a38","block_type":"box","text":"99.61","page_number":13,"box":{"x":443,"y":408,"width":27,"height":6}},{"id":"48d1b139-991b-4f91-8207-62fdb626c349","block_type":"box","text":"Total value of investments","page_number":13,"box":{"x":57,"y":450,"width":146,"height":6}},{"id":"b596d31a-6a4f-4c2c-b212-322829aaaba0","block_type":"box","text":"451,927","page_number":13,"box":{"x":357,"y":450,"width":42,"height":7}},{"id":"470ef5f7-04dc-4947-b78e-198cb6e8a4da","block_type":"box","text":"99.61","page_number":13,"box":{"x":443,"y":450,"width":27,"height":6}},{"id":"40ca60e9-1852-432a-8388-11cfbdf233f4","block_type":"box","text":"Net other assets","page_number":13,"box":{"x":58,"y":466,"width":90,"height":6}},{"id":"b28bd68c-4542-48cb-b3e1-c7b6e52028f3","block_type":"box","text":"1,787","page_number":13,"box":{"x":371,"y":466,"width":28,"height":7}},{"id":"121f435d-aa3d-443e-8953-fdf16261504e","block_type":"box","text":"0.39","page_number":13,"box":{"x":450,"y":466,"width":22,"height":6}},{"id":"01e4fbfa-b60b-4112-b46b-e98fc815ebb6","block_type":"box","text":"Total net assets","page_number":13,"box":{"x":57,"y":482,"width":87,"height":6}},{"id":"7c0fe021-4f15-494b-a25b-f5d534755348","block_type":"box","text":"453,714","page_number":13,"box":{"x":357,"y":482,"width":42,"height":8}},{"id":"ef76adcf-73c8-48a8-8b43-aeff8dd6aeaa","block_type":"box","text":"100.00","page_number":13,"box":{"x":437,"y":482,"width":35,"height":6}},{"id":"8c8b94d6-8eb3-4a10-a7e4-60e62b44c5bc","block_type":"box","text":"†","page_number":13,"box":{"x":57,"y":500,"width":3,"height":4}},{"id":"a4935e29-9a45-4a92-bee4-be373f64a1cc","block_type":"box","text":"Related Party","page_number":13,"box":{"x":65,"y":500,"width":72,"height":7}},{"id":"6c4b7903-204d-4ee2-ad8d-50f31adae2b5","block_type":"box","text":"All investments, except collective investment schemes, are listed on recognised","page_number":13,"box":{"x":57,"y":514,"width":420,"height":7}},{"id":"7489d7c2-45ba-4a88-93ca-769481353840","block_type":"box","text":"stock exchanges and are “approved securities” within the meaning of the FCA","page_number":13,"box":{"x":57,"y":524,"width":421,"height":8}},{"id":"a4be5fee-88bf-4e4f-807b-5cada39a18f4","block_type":"box","text":"rules unless otherwise stated.","page_number":13,"box":{"x":57,"y":535,"width":158,"height":6}},{"id":"f4a145ec-4f1c-44a9-91d4-4b8c785f0b99","block_type":"box","text":"Holding","page_number":13,"box":{"x":58,"y":177,"width":43,"height":8}},{"id":"e9467f27-cdda-4177-972b-9b3f3397aa1b","block_type":"box","text":"Investment","page_number":13,"box":{"x":138,"y":177,"width":64,"height":6}},{"id":"034cd656-81fb-4935-b364-0144be0906c6","block_type":"box","text":"Mid-market","page_number":13,"box":{"x":337,"y":158,"width":65,"height":6}},{"id":"f4e87af3-29ea-416c-8dab-1f4770a13c0b","block_type":"box","text":"value","page_number":13,"box":{"x":371,"y":168,"width":30,"height":6}},{"id":"3aa7ef89-4e4f-4cd7-9abd-1d9370a648c2","block_type":"box","text":"(£’000)","page_number":13,"box":{"x":364,"y":177,"width":37,"height":8}},{"id":"7186b13c-0fdd-4e4e-b0fa-57da18f32683","block_type":"box","text":"Total net","page_number":13,"box":{"x":424,"y":168,"width":49,"height":6}},{"id":"49125892-ba4b-4939-8f3e-06d816c5f57a","block_type":"box","text":"assets (%)","page_number":13,"box":{"x":414,"y":177,"width":59,"height":8}},{"id":"a50f02cc-de48-4631-96bd-54894aa66578","block_type":"box","text":"Royal London GMAP Diversified Bond Fund | Royal London Multi-Asset Funds ICVC","page_number":13,"box":{"x":465,"y":33,"width":448,"height":8}},{"id":"2c613cd0-5018-4a9b-a79a-eeb3352873ed","block_type":"box","text":"13","page_number":13,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"95fa6873-2282-4e6d-91c0-597220908e38","block_type":"box","text":"Summary of Material Portfolio Changes","page_number":14,"box":{"x":57,"y":94,"width":470,"height":14}},{"id":"82977872-97be-401a-93d5-417523d4b152","block_type":"box","text":"For the six month period ended 30","page_number":14,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"a245ced9-18b1-444f-b6e5-027a9d25a802","block_type":"box","text":"June 2026","page_number":14,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"79f32d43-5135-4f46-b9c7-f890728d3675","block_type":"box","text":"Total Purchases","page_number":14,"box":{"x":57,"y":151,"width":149,"height":9}},{"id":"66f9a90d-8b02-4566-98ea-9a070f6d07e9","block_type":"box","text":"Cost","page_number":14,"box":{"x":447,"y":177,"width":26,"height":6}},{"id":"de7cb557-336e-4590-b61e-05b79d39290a","block_type":"box","text":"£’000","page_number":14,"box":{"x":443,"y":186,"width":30,"height":6}},{"id":"35cadcec-5eeb-4e8d-92be-3d15e265338f","block_type":"box","text":"Royal London Index Linked Fund R Acc","page_number":14,"box":{"x":58,"y":205,"width":209,"height":7}},{"id":"767b847e-ca9a-4f54-945b-52b1fde3b097","block_type":"box","text":"7,525","page_number":14,"box":{"x":445,"y":205,"width":28,"height":7}},{"id":"65e7bb90-667e-48b4-a83f-5a5e3988f16c","block_type":"box","text":"Royal London UK Government Bond Fund R Acc","page_number":14,"box":{"x":58,"y":222,"width":259,"height":8}},{"id":"cfd2e721-a69d-48ba-abf3-f7f04a34c168","block_type":"box","text":"5,102","page_number":14,"box":{"x":445,"y":222,"width":28,"height":7}},{"id":"bb61677f-3e54-444a-8c71-6fa250ecc102","block_type":"box","text":"Royal London Sustainable Corporate Bond Trust D Acc","page_number":14,"box":{"x":58,"y":240,"width":293,"height":7}},{"id":"38a48a94-287d-49c1-ac5f-a5753635855b","block_type":"box","text":"2,301","page_number":14,"box":{"x":444,"y":240,"width":27,"height":7}},{"id":"6433a916-870e-4cb1-b821-ac464d9a5fe9","block_type":"box","text":"Royal London Global Sustainable Credit Fund R Acc","page_number":14,"box":{"x":58,"y":257,"width":278,"height":8}},{"id":"eff1ec99-60dc-4ab5-9815-aeadbe6df952","block_type":"box","text":"1,709","page_number":14,"box":{"x":445,"y":257,"width":28,"height":7}},{"id":"a3edbf46-41cd-429d-9cee-30f88760e1b6","block_type":"box","text":"Royal London Short Duration Global Index Linked Fund R Acc","page_number":14,"box":{"x":58,"y":275,"width":329,"height":7}},{"id":"ac3f1d96-9168-43d7-8b58-d40aeeacd7bb","block_type":"box","text":"990","page_number":14,"box":{"x":453,"y":275,"width":20,"height":6}},{"id":"2b62d263-01b8-4bed-a7d7-eeec5399be78","block_type":"box","text":"Royal London International Government Bond Fund R Acc","page_number":14,"box":{"x":58,"y":292,"width":309,"height":8}},{"id":"f908d682-2993-44aa-a786-c6ad032f5a58","block_type":"box","text":"971","page_number":14,"box":{"x":455,"y":292,"width":16,"height":6}},{"id":"635e1f6b-dce0-4bbb-9c32-970de3a267c0","block_type":"box","text":"Royal London Ethical Bond Fund R Acc","page_number":14,"box":{"x":58,"y":310,"width":209,"height":7}},{"id":"f50b7479-db28-4ec0-b547-93546bd2a726","block_type":"box","text":"578","page_number":14,"box":{"x":454,"y":310,"width":19,"height":6}},{"id":"43f7ac54-2f73-4b0f-b313-c592a82406a9","block_type":"box","text":"Royal London Global Government Bond Fund R Acc","page_number":14,"box":{"x":58,"y":327,"width":277,"height":8}},{"id":"47b6e513-259a-485c-b0d1-cfb3835d5dfc","block_type":"box","text":"484","page_number":14,"box":{"x":453,"y":327,"width":20,"height":6}},{"id":"b0ce2939-084a-4b7d-98b8-215b2aeac4fb","block_type":"box","text":"Royal London Asset Global High Yield Bond R Acc","page_number":14,"box":{"x":58,"y":345,"width":269,"height":7}},{"id":"19f6b189-6f06-4024-bd42-bae6c1ba1334","block_type":"box","text":"280","page_number":14,"box":{"x":454,"y":345,"width":19,"height":6}},{"id":"bd787613-6df1-47a7-82cb-bc7a203d5165","block_type":"box","text":"Total cost of purchases, including the above, for the period","page_number":14,"box":{"x":57,"y":362,"width":339,"height":8}},{"id":"9e625a2c-f176-4a43-961a-b7369c605563","block_type":"box","text":"19,940","page_number":14,"box":{"x":437,"y":362,"width":36,"height":8}},{"id":"f0ed847c-2927-401d-a643-d4f28360f019","block_type":"box","text":"Total Sales","page_number":14,"box":{"x":521,"y":151,"width":103,"height":9}},{"id":"07a5af78-cdda-49e7-b0e8-ee57b7eb6d79","block_type":"box","text":"Proceeds","page_number":14,"box":{"x":884,"y":177,"width":53,"height":6}},{"id":"3dc594ca-86de-4ae1-a1a1-07ff4fb1c81e","block_type":"box","text":"£’000","page_number":14,"box":{"x":907,"y":186,"width":30,"height":6}},{"id":"5dc9b6bd-9ad3-4b78-afee-2425054e0ca1","block_type":"box","text":"Royal London Asset Global High Yield Bond R Acc","page_number":14,"box":{"x":522,"y":205,"width":269,"height":7}},{"id":"a0ae58b1-d5e4-4419-b371-e7f7a8e1b1b7","block_type":"box","text":"13,099","page_number":14,"box":{"x":902,"y":205,"width":35,"height":7}},{"id":"d82d45c1-3a50-4b8d-8130-679b1b2516f6","block_type":"box","text":"Royal London Index Linked Fund R Acc","page_number":14,"box":{"x":522,"y":222,"width":209,"height":8}},{"id":"c60eb72f-fe32-4a13-896e-52e7c6c4a992","block_type":"box","text":"3,664","page_number":14,"box":{"x":907,"y":222,"width":30,"height":7}},{"id":"d80a8484-e8bb-48c3-9d38-0eed258ce70a","block_type":"box","text":"Royal London UK Government Bond Fund R Acc","page_number":14,"box":{"x":522,"y":240,"width":259,"height":7}},{"id":"9f36d381-be12-4469-8204-6c36325187a8","block_type":"box","text":"594","page_number":14,"box":{"x":918,"y":240,"width":19,"height":6}},{"id":"85891d4f-cb88-40c6-be5a-7e0b140e6826","block_type":"box","text":"Royal London Global Sustainable Credit Fund R Acc","page_number":14,"box":{"x":522,"y":257,"width":278,"height":8}},{"id":"0c8b749d-51cd-4762-bbc8-c77246888b5c","block_type":"box","text":"582","page_number":14,"box":{"x":918,"y":257,"width":19,"height":6}},{"id":"cf97642b-6204-4810-8de4-e55521422dbe","block_type":"box","text":"Royal London Short Duration Global Index Linked Fund R Acc","page_number":14,"box":{"x":522,"y":275,"width":329,"height":7}},{"id":"154857cc-65bb-4bef-bdfb-fe78265fc095","block_type":"box","text":"372","page_number":14,"box":{"x":918,"y":275,"width":19,"height":6}},{"id":"134fc8f4-f4c1-4efe-b8dc-d32d794acb42","block_type":"box","text":"Royal London Sustainable Corporate Bond Trust D Acc","page_number":14,"box":{"x":522,"y":292,"width":293,"height":8}},{"id":"2b2c1b34-971e-4cf9-8b3e-2f440471cd93","block_type":"box","text":"90","page_number":14,"box":{"x":925,"y":292,"width":12,"height":6}},{"id":"a89109bf-cbc7-4180-b409-3eb206cb613b","block_type":"box","text":"Total proceeds from sales, including the above, for the period","page_number":14,"box":{"x":521,"y":310,"width":347,"height":7}},{"id":"64da997a-a0c0-4db7-a18b-74d6b68af17d","block_type":"box","text":"18,401","page_number":14,"box":{"x":902,"y":310,"width":34,"height":7}},{"id":"8f6121e4-d658-4f00-8351-d00b6eca1160","block_type":"box","text":"Royal London GMAP Diversified Bond Fund | Royal London Multi-Asset Funds ICVC","page_number":14,"box":{"x":465,"y":33,"width":448,"height":8}},{"id":"b4075a1b-6e13-4a3e-817f-464baf19ef12","block_type":"box","text":"14","page_number":14,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"129139cc-695e-4041-be3f-bf8af68479f2","block_type":"box","text":"Financial Statements","page_number":15,"box":{"x":58,"y":94,"width":253,"height":11}},{"id":"1c7d3ffd-7b8c-4245-9729-1a16f99fb756","block_type":"box","text":"Statement of Total Return","page_number":15,"box":{"x":57,"y":151,"width":241,"height":9}},{"id":"16410bf7-3f65-4d1e-8b82-1cfe4a58548e","block_type":"box","text":"For the six month period ended 30","page_number":15,"box":{"x":58,"y":169,"width":231,"height":10}},{"id":"00ee5d0d-c5c3-4ba9-ac89-03e9cee35436","block_type":"box","text":"June 2026","page_number":15,"box":{"x":294,"y":169,"width":70,"height":8}},{"id":"7ce69a61-d76c-4f82-8b7b-654b1354a642","block_type":"box","text":"30 Jun 2026","page_number":15,"box":{"x":264,"y":198,"width":66,"height":6}},{"id":"41fb24db-e32c-4ff1-a511-c38f6176b382","block_type":"box","text":"30 Jun 2025","page_number":15,"box":{"x":407,"y":198,"width":66,"height":6}},{"id":"58f0f55b-8dfe-4b8f-8fb8-8f350deaf244","block_type":"box","text":"£’000","page_number":15,"box":{"x":229,"y":207,"width":29,"height":6}},{"id":"d10dccd3-a12c-4219-b1e9-fd8fa2d236b0","block_type":"box","text":"£’000","page_number":15,"box":{"x":300,"y":207,"width":30,"height":6}},{"id":"0671f677-093b-418d-9107-bc44c40204b0","block_type":"box","text":"£’000","page_number":15,"box":{"x":371,"y":207,"width":30,"height":6}},{"id":"3acb9e80-4a6d-4278-b41a-75dbc6c62e96","block_type":"box","text":"£’000","page_number":15,"box":{"x":443,"y":207,"width":30,"height":6}},{"id":"9332ed6c-a29c-4f21-b57f-dcdb2ab0a1f5","block_type":"box","text":"Income","page_number":15,"box":{"x":58,"y":226,"width":38,"height":6}},{"id":"cd8792ff-4425-4341-8977-547cd7e8bb8b","block_type":"box","text":"Net capital (losses)/","page_number":15,"box":{"x":69,"y":243,"width":106,"height":8}},{"id":"60be5e89-3b3b-436c-a866-0a0e94229ee4","block_type":"box","text":"gains","page_number":15,"box":{"x":69,"y":253,"width":28,"height":8}},{"id":"66c6f385-bea1-427b-8208-ac875a60cc9f","block_type":"box","text":"(708)","page_number":15,"box":{"x":307,"y":243,"width":27,"height":8}},{"id":"8a311991-aa79-4fac-8fc8-e08f48e4edcc","block_type":"box","text":"4,226","page_number":15,"box":{"x":443,"y":243,"width":30,"height":8}},{"id":"392ca137-a2b9-48ab-a113-e10c5268382c","block_type":"box","text":"Revenue","page_number":15,"box":{"x":69,"y":270,"width":47,"height":6}},{"id":"e029988d-a4c0-4ffc-8c7e-6c2ba7288294","block_type":"box","text":"5,699","page_number":15,"box":{"x":229,"y":270,"width":30,"height":8}},{"id":"8f5b38df-582b-4951-b26f-89e5e90a9c94","block_type":"box","text":"5,709","page_number":15,"box":{"x":373,"y":270,"width":28,"height":8}},{"id":"11b7ab4b-477d-4675-a066-e616ecacb34e","block_type":"box","text":"Expenses","page_number":15,"box":{"x":58,"y":288,"width":51,"height":8}},{"id":"043f8f09-ae92-4df6-9224-0b9bc06ed338","block_type":"box","text":"(267)","page_number":15,"box":{"x":236,"y":288,"width":27,"height":8}},{"id":"adc27e2c-a728-4936-8786-98a70799629e","block_type":"box","text":"(245)","page_number":15,"box":{"x":379,"y":288,"width":26,"height":8}},{"id":"6df620c4-d6d7-42c9-9f4f-0e241f46e492","block_type":"box","text":"Net revenue before","page_number":15,"box":{"x":58,"y":305,"width":101,"height":6}},{"id":"ab75a8b3-e6eb-4e3f-96ec-043eb958bb59","block_type":"box","text":"taxation","page_number":15,"box":{"x":57,"y":315,"width":42,"height":6}},{"id":"928b98dd-e293-42e6-b860-193ebee5494d","block_type":"box","text":"5,432","page_number":15,"box":{"x":229,"y":305,"width":29,"height":8}},{"id":"424ebeee-c6db-4e5b-97a3-07d9c7b076e9","block_type":"box","text":"5,464","page_number":15,"box":{"x":372,"y":305,"width":29,"height":8}},{"id":"b83dbbeb-e1c3-4ad6-a79e-382086608475","block_type":"box","text":"Taxation","page_number":15,"box":{"x":57,"y":332,"width":44,"height":6}},{"id":"f2f36a3a-7b27-4e67-9886-b7e5d9e90ac9","block_type":"box","text":"–","page_number":15,"box":{"x":252,"y":336,"width":7,"height":1}},{"id":"db7d6da0-4475-413c-8284-a8a6979b0219","block_type":"box","text":"–","page_number":15,"box":{"x":395,"y":336,"width":7,"height":1}},{"id":"abbe5a1e-8c3b-42cf-9449-10a7a1a14b56","block_type":"box","text":"Net revenue after","page_number":15,"box":{"x":58,"y":350,"width":92,"height":6}},{"id":"a80e94b0-703e-4770-9dbe-1d9081ef75e6","block_type":"box","text":"taxation","page_number":15,"box":{"x":57,"y":359,"width":42,"height":6}},{"id":"5b5770cf-d1b1-4640-91f4-a0820386e143","block_type":"box","text":"5,432","page_number":15,"box":{"x":301,"y":350,"width":29,"height":7}},{"id":"2a4766ca-b5d8-42d8-9ddb-93d3e1af659f","block_type":"box","text":"5,464","page_number":15,"box":{"x":443,"y":350,"width":30,"height":7}},{"id":"dd66b2ff-1652-4247-9201-b804af60e1c5","block_type":"box","text":"Total return before","page_number":15,"box":{"x":57,"y":377,"width":98,"height":6}},{"id":"d850a08b-6932-4707-a8d8-9cdaa079d158","block_type":"box","text":"distributions","page_number":15,"box":{"x":57,"y":386,"width":64,"height":6}},{"id":"280d2c40-0639-402a-8a0a-89d82ac3c733","block_type":"box","text":"4,724","page_number":15,"box":{"x":301,"y":377,"width":29,"height":7}},{"id":"644ea8e9-0bba-460c-a6e8-c0d1bf8bb5bf","block_type":"box","text":"9,690","page_number":15,"box":{"x":443,"y":377,"width":30,"height":7}},{"id":"e9b2e159-da6c-4ad2-9a74-70355c49d5c6","block_type":"box","text":"Distributions","page_number":15,"box":{"x":58,"y":404,"width":65,"height":6}},{"id":"bdf750cf-7e6c-42cc-8e06-a608f35bc9f7","block_type":"box","text":"(5,432)","page_number":15,"box":{"x":297,"y":404,"width":37,"height":8}},{"id":"500b381d-2f9c-446c-961e-69980ccc118f","block_type":"box","text":"(5,464)","page_number":15,"box":{"x":440,"y":404,"width":37,"height":8}},{"id":"4a9911fe-bcce-4643-8053-67cb29df18cf","block_type":"box","text":"Change in net assets","page_number":15,"box":{"x":57,"y":421,"width":120,"height":8}},{"id":"e8eb745f-2e6d-469c-a7f4-d528356c5d73","block_type":"box","text":"attributable to","page_number":15,"box":{"x":57,"y":431,"width":81,"height":6}},{"id":"55eab1e7-cc32-4e0f-90c4-446a1223e620","block_type":"box","text":"shareholders","page_number":15,"box":{"x":57,"y":440,"width":76,"height":6}},{"id":"60a24f7b-a742-4c30-bb93-4670a88ab86d","block_type":"box","text":"from investment","page_number":15,"box":{"x":57,"y":450,"width":94,"height":6}},{"id":"e5cf177c-3993-4adc-81ed-3a5994457e23","block_type":"box","text":"activities","page_number":15,"box":{"x":57,"y":459,"width":52,"height":6}},{"id":"caf5dace-45bd-4fdb-9b95-a4be6451284f","block_type":"box","text":"(708)","page_number":15,"box":{"x":307,"y":421,"width":27,"height":8}},{"id":"d2a2c82e-3a46-4957-8806-06bb73853999","block_type":"box","text":"4,226","page_number":15,"box":{"x":443,"y":421,"width":30,"height":8}},{"id":"b81d763d-3539-41a4-ad0b-746ec78930e3","block_type":"box","text":"Statement of Change in Net Assets","page_number":15,"box":{"x":57,"y":505,"width":332,"height":11}},{"id":"ff3e326d-b7aa-4556-b905-f5abf3d48358","block_type":"box","text":"Attributable to Shareholders","page_number":15,"box":{"x":57,"y":519,"width":265,"height":9}},{"id":"42f1adac-76f6-4d08-80a9-f8b84b3e7333","block_type":"box","text":"For the six month period ended 30","page_number":15,"box":{"x":58,"y":537,"width":231,"height":10}},{"id":"408b1670-266d-4161-b74b-c1b50f84b40d","block_type":"box","text":"June 2026","page_number":15,"box":{"x":294,"y":537,"width":70,"height":8}},{"id":"7c795ea0-598d-46b4-8009-30626ada5ce6","block_type":"box","text":"30 Jun 2026","page_number":15,"box":{"x":264,"y":566,"width":66,"height":6}},{"id":"9138eca2-a582-4c5d-a47a-27a213dce780","block_type":"box","text":"30 Jun 2025","page_number":15,"box":{"x":407,"y":566,"width":66,"height":6}},{"id":"d50efeb4-4394-4a4c-9dce-4b18235191ef","block_type":"box","text":"£’000","page_number":15,"box":{"x":229,"y":575,"width":29,"height":6}},{"id":"f42554eb-9bf2-4811-b9f1-3725990760eb","block_type":"box","text":"£’000","page_number":15,"box":{"x":300,"y":575,"width":30,"height":6}},{"id":"31af820e-5df0-4678-9ed5-7840490a40ff","block_type":"box","text":"£’000","page_number":15,"box":{"x":371,"y":575,"width":30,"height":6}},{"id":"cbe21922-e0ee-4fd7-ae75-9ae9586de4b7","block_type":"box","text":"£’000","page_number":15,"box":{"x":443,"y":575,"width":30,"height":6}},{"id":"73b58692-768c-4230-8943-c145b49bf771","block_type":"box","text":"Opening net assets","page_number":15,"box":{"x":57,"y":594,"width":111,"height":7}},{"id":"4b1bd08e-40d9-48b1-99a9-89125d96afda","block_type":"box","text":"attributable to","page_number":15,"box":{"x":57,"y":603,"width":81,"height":6}},{"id":"d1f28756-619c-4c59-aa1f-228880fa6c09","block_type":"box","text":"shareholders","page_number":15,"box":{"x":57,"y":613,"width":76,"height":6}},{"id":"4678a295-fe42-4037-bdec-96260922b8f4","block_type":"box","text":"432,375","page_number":15,"box":{"x":287,"y":594,"width":43,"height":7}},{"id":"0242ba8e-6db2-49f3-a1ba-4ba6dc436007","block_type":"box","text":"395,080","page_number":15,"box":{"x":430,"y":594,"width":43,"height":7}},{"id":"dec70f9a-fbe5-4861-ba1c-9b7680b29234","block_type":"box","text":"Issue of shares","page_number":15,"box":{"x":58,"y":630,"width":80,"height":6}},{"id":"0b63a342-a126-4d42-9ef1-5fa12bd73449","block_type":"box","text":"24,448","page_number":15,"box":{"x":222,"y":630,"width":37,"height":7}},{"id":"6748c678-f4d4-4b29-b662-acadde9fce81","block_type":"box","text":"16,352","page_number":15,"box":{"x":367,"y":630,"width":34,"height":7}},{"id":"9eff2b3b-6308-4cb5-82aa-7e6e8a65a0bf","block_type":"box","text":"Cancellation of shares","page_number":15,"box":{"x":57,"y":648,"width":119,"height":6}},{"id":"82d86bcd-5a4c-4b8c-acb4-87e56a9bd894","block_type":"box","text":"(7,938)","page_number":15,"box":{"x":227,"y":648,"width":36,"height":7}},{"id":"d8a76ae6-c6da-4fe9-a718-7ad0df2e7d28","block_type":"box","text":"(16,328)","page_number":15,"box":{"x":363,"y":648,"width":42,"height":7}},{"id":"2b17baae-54ec-42b1-b4b0-ae92bd39f6df","block_type":"box","text":"16,510","page_number":15,"box":{"x":296,"y":665,"width":34,"height":7}},{"id":"801fc4f9-9f33-4d50-b349-316fd3f49d60","block_type":"box","text":"24","page_number":15,"box":{"x":461,"y":665,"width":12,"height":6}},{"id":"a539a233-810b-4eaf-a714-0a8c25b561e0","block_type":"box","text":"Change in net","page_number":15,"box":{"x":57,"y":683,"width":74,"height":7}},{"id":"7ab8e40e-dc62-4857-b860-84a17379dd6a","block_type":"box","text":"assets attributable","page_number":15,"box":{"x":57,"y":692,"width":98,"height":6}},{"id":"cf01d65a-23b3-4229-925b-32b00e9e08e5","block_type":"box","text":"to shareholders from","page_number":15,"box":{"x":57,"y":702,"width":110,"height":6}},{"id":"71205935-7f8d-4b2e-a7ac-d36c39cb3bf3","block_type":"box","text":"investment activities","page_number":15,"box":{"x":57,"y":711,"width":108,"height":6}},{"id":"c287ff2e-162e-4616-9124-30e502031137","block_type":"box","text":"(708)","page_number":15,"box":{"x":307,"y":683,"width":27,"height":7}},{"id":"454a2199-da42-47a9-9251-7026392238e2","block_type":"box","text":"4,226","page_number":15,"box":{"x":443,"y":683,"width":30,"height":7}},{"id":"639080cc-a3df-43ad-8d15-2fa7ac1b02be","block_type":"box","text":"Retained distributions on","page_number":15,"box":{"x":58,"y":729,"width":131,"height":6}},{"id":"b62ce8a7-c307-414a-baff-b3658ee0ecb4","block_type":"box","text":"accumulation shares","page_number":15,"box":{"x":57,"y":738,"width":110,"height":6}},{"id":"e626055b-1918-4292-a0cf-a1bd0ea27ccb","block_type":"box","text":"5,537","page_number":15,"box":{"x":301,"y":729,"width":29,"height":7}},{"id":"7c16f697-58e5-4bb6-ae59-5d137aa274f7","block_type":"box","text":"5,391","page_number":15,"box":{"x":444,"y":729,"width":27,"height":7}},{"id":"75570bc6-53e7-4944-b275-9764a9eca43f","block_type":"box","text":"Closing net assets","page_number":15,"box":{"x":57,"y":756,"width":106,"height":7}},{"id":"40f2b556-fc99-4729-9ea9-2f052ce4b53c","block_type":"box","text":"attributable to","page_number":15,"box":{"x":57,"y":765,"width":81,"height":6}},{"id":"9438f4bc-1589-4c06-81f9-d637b294636b","block_type":"box","text":"shareholders","page_number":15,"box":{"x":57,"y":775,"width":76,"height":6}},{"id":"4e178e73-1ab3-4b54-a1e0-ef8c384d05ee","block_type":"box","text":"453,714","page_number":15,"box":{"x":288,"y":756,"width":42,"height":7}},{"id":"7004b0ca-d71c-42c4-9152-54b0726b61fe","block_type":"box","text":"404,721","page_number":15,"box":{"x":430,"y":756,"width":41,"height":7}},{"id":"337bab1f-aa55-412f-bf17-ded22860810e","block_type":"box","text":"Balance Sheet","page_number":15,"box":{"x":522,"y":151,"width":134,"height":9}},{"id":"a6df030e-252e-438c-aa7d-9c9ddd97cdb5","block_type":"box","text":"As at 30","page_number":15,"box":{"x":521,"y":169,"width":55,"height":8}},{"id":"82cda8cc-e316-426f-bbef-4d1b4519f246","block_type":"box","text":"June 2026","page_number":15,"box":{"x":582,"y":169,"width":70,"height":8}},{"id":"eb512005-1d0a-4f3b-a68e-7045f13b12f8","block_type":"box","text":"30 Jun 2026","page_number":15,"box":{"x":728,"y":198,"width":66,"height":6}},{"id":"71b4bf82-763e-48a0-88a3-28b13204e5a3","block_type":"box","text":"31 Dec 2025","page_number":15,"box":{"x":871,"y":198,"width":66,"height":6}},{"id":"ca6d7af5-2464-4e11-86f5-5efe611bee16","block_type":"box","text":"£’000","page_number":15,"box":{"x":764,"y":207,"width":30,"height":6}},{"id":"e9aa90e8-695b-49b2-b3ff-a3b4e8bd3fe0","block_type":"box","text":"£’000","page_number":15,"box":{"x":907,"y":207,"width":30,"height":6}},{"id":"bb8c4d2d-e55e-4e85-91b6-b3fc9f3a29fc","block_type":"box","text":"Assets","page_number":15,"box":{"x":521,"y":226,"width":39,"height":6}},{"id":"1f3d2619-b07b-4003-ac59-0f5784e0c483","block_type":"box","text":"Investments","page_number":15,"box":{"x":522,"y":243,"width":63,"height":6}},{"id":"742d6b5c-32f4-4658-99c0-0969be264afc","block_type":"box","text":"451,927","page_number":15,"box":{"x":752,"y":243,"width":42,"height":7}},{"id":"9cb0949b-7f46-44f7-a5ae-3536dd5a8d1f","block_type":"box","text":"429,037","page_number":15,"box":{"x":895,"y":243,"width":42,"height":7}},{"id":"1a5abfbf-e35c-4791-8e55-0e59e95b2457","block_type":"box","text":"Amounts receivable","page_number":15,"box":{"x":521,"y":261,"width":106,"height":6}},{"id":"0a9e3cce-9604-4c20-95cc-173c10cd4ac4","block_type":"box","text":"238","page_number":15,"box":{"x":775,"y":261,"width":19,"height":6}},{"id":"4a8d7cea-6fe9-4ead-8785-8bd9dad7b8eb","block_type":"box","text":"877","page_number":15,"box":{"x":918,"y":261,"width":19,"height":6}},{"id":"df1b65e3-7e54-4a66-aedc-51a1df94320e","block_type":"box","text":"Cash and cash","page_number":15,"box":{"x":522,"y":278,"width":78,"height":6}},{"id":"a42755ea-106f-4871-912b-bcef81507c36","block_type":"box","text":"equivalents","page_number":15,"box":{"x":521,"y":288,"width":61,"height":7}},{"id":"567582a0-1c63-4889-8b3a-6395983d5557","block_type":"box","text":"2,225","page_number":15,"box":{"x":765,"y":278,"width":29,"height":7}},{"id":"38edb854-ebfd-49e9-93b3-92523f334225","block_type":"box","text":"2,962","page_number":15,"box":{"x":907,"y":278,"width":30,"height":7}},{"id":"40907387-b996-4f1b-ac1f-4c023c711192","block_type":"box","text":"Total assets","page_number":15,"box":{"x":521,"y":305,"width":64,"height":6}},{"id":"63578d2d-2e33-40fd-a4c4-c89df7f22212","block_type":"box","text":"454,390","page_number":15,"box":{"x":750,"y":305,"width":44,"height":7}},{"id":"9d38e0c5-97ce-420a-b080-fe1a9815c0e2","block_type":"box","text":"432,876","page_number":15,"box":{"x":894,"y":305,"width":43,"height":7}},{"id":"c99d8c48-1c87-4cfa-b004-3480bbb2fd8f","block_type":"box","text":"Liabilities","page_number":15,"box":{"x":522,"y":323,"width":55,"height":6}},{"id":"27ade966-a9d7-44be-afc9-f6c7cd125b4a","block_type":"box","text":"Distribution payable","page_number":15,"box":{"x":522,"y":340,"width":105,"height":8}},{"id":"fc8a35e5-3a87-4278-8d28-1623a0a9f123","block_type":"box","text":"1","page_number":15,"box":{"x":789,"y":340,"width":4,"height":6}},{"id":"09fc1895-0472-47b6-95f7-4e086196b5e9","block_type":"box","text":"3","page_number":15,"box":{"x":932,"y":340,"width":5,"height":6}},{"id":"c0bcf1ee-a519-4e19-bed8-44c5386462c6","block_type":"box","text":"Other amounts payable","page_number":15,"box":{"x":521,"y":358,"width":124,"height":7}},{"id":"862f91b6-5bf8-4bde-aa7a-63cd60eb2b00","block_type":"box","text":"675","page_number":15,"box":{"x":776,"y":358,"width":18,"height":6}},{"id":"154d3fb1-6f2f-4dca-bc77-6496115f434c","block_type":"box","text":"498","page_number":15,"box":{"x":918,"y":358,"width":19,"height":6}},{"id":"bf2b9469-1b81-432c-941f-41e8e66d974e","block_type":"box","text":"Total liabilities","page_number":15,"box":{"x":521,"y":375,"width":75,"height":6}},{"id":"8ca8ad2e-9bca-45d9-8967-852ffa91ce7a","block_type":"box","text":"676","page_number":15,"box":{"x":775,"y":375,"width":19,"height":6}},{"id":"44f0fd0a-e800-4f0d-b3f1-967929404983","block_type":"box","text":"501","page_number":15,"box":{"x":918,"y":375,"width":17,"height":6}},{"id":"e943df1f-d497-4790-a36c-ced0f69b52f5","block_type":"box","text":"Net assets","page_number":15,"box":{"x":522,"y":393,"width":59,"height":6}},{"id":"45afbe9d-ccb8-433b-bb31-1b1b6b92ce8e","block_type":"box","text":"attributable to","page_number":15,"box":{"x":521,"y":402,"width":82,"height":6}},{"id":"b74abcca-3a56-491c-8d10-7e761343d1ed","block_type":"box","text":"shareholders","page_number":15,"box":{"x":521,"y":412,"width":76,"height":6}},{"id":"c02aa741-008a-4921-a6d5-797d595f90fb","block_type":"box","text":"453,714","page_number":15,"box":{"x":752,"y":393,"width":42,"height":7}},{"id":"4ef80672-5911-4a2b-acc8-7011390b6f3a","block_type":"box","text":"432,375","page_number":15,"box":{"x":894,"y":393,"width":43,"height":7}},{"id":"5b9f8658-d524-4d6e-ba30-d26b08c12e81","block_type":"box","text":"Royal London GMAP Diversified Bond Fund | Royal London Multi-Asset Funds ICVC","page_number":15,"box":{"x":465,"y":33,"width":448,"height":8}},{"id":"36c229d6-276e-4220-ac5a-697b198ce285","block_type":"box","text":"15","page_number":15,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"b7943be1-ec1f-4dbb-b2fc-eb7f8a9e8a3b","block_type":"box","text":"Notes to the Financial Statements","page_number":16,"box":{"x":58,"y":94,"width":409,"height":11}},{"id":"a0086534-1e3e-4678-8d2d-e91b8ff055ba","block_type":"box","text":"For the six month period ended 30","page_number":16,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"984fa9bf-7a19-42d3-a275-90e8573cf72c","block_type":"box","text":"June 2026","page_number":16,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"4d0cf062-9192-4050-a029-170cb65479a1","block_type":"box","text":"1. Accounting policies","page_number":16,"box":{"x":58,"y":151,"width":205,"height":11}},{"id":"fd6cc856-b4bd-47f9-9874-8644854ca87a","block_type":"box","text":"The accounting policies are set out in note 1 on pages","page_number":16,"box":{"x":57,"y":169,"width":404,"height":10}},{"id":"50f7ab20-8b8f-4997-9e9a-aeb03eadaa8f","block_type":"box","text":"5","page_number":16,"box":{"x":470,"y":170,"width":7,"height":7}},{"id":"e14df884-26ff-461f-88fa-474dc9778c00","block_type":"box","text":"and","page_number":16,"box":{"x":57,"y":184,"width":24,"height":8}},{"id":"3386952e-5ae1-4d15-a2dc-46da596ac651","block_type":"box","text":"6","page_number":16,"box":{"x":87,"y":184,"width":7,"height":8}},{"id":"a276f62c-5419-4225-a045-995c5104cbbb","block_type":"box","text":".","page_number":16,"box":{"x":96,"y":190,"width":2,"height":1}},{"id":"e225ee83-3954-46eb-a8d6-00bd30c48128","block_type":"box","text":"2. Related party transactions","page_number":16,"box":{"x":57,"y":210,"width":272,"height":12}},{"id":"8fc8c54f-553f-4038-a7c2-839882005758","block_type":"box","text":"The Fund’s Authorised Corporate Director, Royal London","page_number":16,"box":{"x":57,"y":229,"width":420,"height":10}},{"id":"7fea9652-1b66-41df-9c3f-c7bf59e1c831","block_type":"box","text":"Unit Trust Managers Limited, is a related party to the Fund","page_number":16,"box":{"x":58,"y":243,"width":419,"height":10}},{"id":"5832521c-d7b1-40ba-a433-54add07fcb60","block_type":"box","text":"as defined by Financial Reporting Standard 102 ‘Related","page_number":16,"box":{"x":57,"y":257,"width":420,"height":10}},{"id":"807f3fb5-d9d7-44c9-97cd-f4df6e46b068","block_type":"box","text":"Party Disclosures’.","page_number":16,"box":{"x":58,"y":272,"width":124,"height":10}},{"id":"db4142b5-777e-494e-b13c-6560d2ee8e5c","block_type":"box","text":"Fund Management fees charged by Royal London Unit Trust","page_number":16,"box":{"x":58,"y":293,"width":420,"height":10}},{"id":"c35ebb71-a9d5-4dcb-b043-759d567834e0","block_type":"box","text":"Managers Limited are disclosed within the expenses figure","page_number":16,"box":{"x":58,"y":307,"width":419,"height":10}},{"id":"396095e7-2659-4fa5-b7f4-153b817d1f0f","block_type":"box","text":"shown on the Statement of Total Return and details of shares","page_number":16,"box":{"x":57,"y":321,"width":421,"height":8}},{"id":"1419a8d2-3c34-4108-bd8b-b31a58a987f4","block_type":"box","text":"created and cancelled by Royal London Unit Trust Managers","page_number":16,"box":{"x":57,"y":336,"width":421,"height":9}},{"id":"99aae7ff-4024-4d46-a4a9-578d624510a0","block_type":"box","text":"Limited are shown in the Statement of Change in Net Assets","page_number":16,"box":{"x":58,"y":350,"width":420,"height":10}},{"id":"f0db414c-6161-411f-99fc-d5e0372f47a8","block_type":"box","text":"Attributable to Shareholders and the Distribution figure shown","page_number":16,"box":{"x":57,"y":364,"width":420,"height":10}},{"id":"06e37bff-b56f-44d9-9ecd-dc045d55dae1","block_type":"box","text":"on the Statement of Total Return.","page_number":16,"box":{"x":57,"y":378,"width":223,"height":8}},{"id":"2fd252dc-46b3-4372-b555-55fb2b483fc0","block_type":"box","text":"At the six months period end the balance due to/from Royal","page_number":16,"box":{"x":57,"y":399,"width":420,"height":10}},{"id":"f1770d62-0072-434b-9abd-3a89a041b629","block_type":"box","text":"London Unit Trust Managers Limited in respect of these","page_number":16,"box":{"x":58,"y":413,"width":419,"height":10}},{"id":"abc17e28-b1a1-48f6-887b-b3bae7548f2c","block_type":"box","text":"transactions was £654,000 (31/12/25: £650,000).","page_number":16,"box":{"x":57,"y":428,"width":330,"height":10}},{"id":"2d17fbeb-19e1-4fab-b667-d6db12fb775f","block_type":"box","text":"Amounts due from Royal London Unit Trust Managers Limited in","page_number":16,"box":{"x":57,"y":449,"width":420,"height":10}},{"id":"e05f6cf3-4404-4adf-9648-70169a4fc614","block_type":"box","text":"respect of periodic charge rebates at the period end amounted","page_number":16,"box":{"x":58,"y":463,"width":419,"height":10}},{"id":"fd1481cf-8d7f-477e-bfc5-ca080ae065f2","block_type":"box","text":"to £82,000 (31/12/25: £73,000).","page_number":16,"box":{"x":57,"y":477,"width":210,"height":10}},{"id":"1b6241b5-ace9-4e33-9b19-517c0329a705","block_type":"box","text":"At the six months period end, 30 June 2026, 99.72% (31/12/25:","page_number":16,"box":{"x":57,"y":498,"width":420,"height":10}},{"id":"20e90b52-eca0-4a0d-87f6-21c6e168cec4","block_type":"box","text":"99.48%) of the shares in issue were held by The Royal London","page_number":16,"box":{"x":57,"y":512,"width":420,"height":10}},{"id":"caaac8ee-f014-4ca1-9639-9734eb16b58a","block_type":"box","text":"Mutual Insurance Society Limited. Royal London Unit Trust","page_number":16,"box":{"x":58,"y":527,"width":420,"height":10}},{"id":"5de0a676-ec5b-494a-aa4a-4c42f83e0bd7","block_type":"box","text":"Managers Limited is a wholly owned subsidiary of The Royal","page_number":16,"box":{"x":58,"y":541,"width":419,"height":10}},{"id":"1cd09bfe-bf66-4741-94b2-0a29b926205d","block_type":"box","text":"London Mutual Insurance Society Limited.","page_number":16,"box":{"x":58,"y":555,"width":282,"height":10}},{"id":"dd8f1a3b-cb53-43c4-aa91-1078eaf7ee77","block_type":"box","text":"3. Fair value of investments","page_number":16,"box":{"x":522,"y":151,"width":255,"height":9}},{"id":"a1aa737d-6b4f-4732-82cf-7dd8ffcf5774","block_type":"box","text":"The fair values of the Fund’s assets and liabilities are","page_number":16,"box":{"x":521,"y":169,"width":421,"height":8}},{"id":"c47e891a-1a11-4421-b769-079529661401","block_type":"box","text":"represented by the values shown in the balance sheet. There","page_number":16,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"557f90e9-9919-4ac5-9fed-e9e6ad030b3e","block_type":"box","text":"is no material difference between the value of the financial","page_number":16,"box":{"x":522,"y":198,"width":419,"height":8}},{"id":"90ec1ea8-5e06-43b9-b7fb-95f8b49419b3","block_type":"box","text":"assets and liabilities, as shown in the balance sheet, and their","page_number":16,"box":{"x":521,"y":212,"width":422,"height":9}},{"id":"9c53290a-b00e-4bbd-b246-c625918eecdf","block_type":"box","text":"fair value.","page_number":16,"box":{"x":521,"y":226,"width":64,"height":8}},{"id":"adf69df1-607b-46c3-a54f-8e034c533761","block_type":"box","text":"The fair value of investments has been determined using the","page_number":16,"box":{"x":521,"y":247,"width":421,"height":10}},{"id":"a1edb7b5-edda-4b81-9412-d6353afc09df","block_type":"box","text":"following hierarchy:","page_number":16,"box":{"x":521,"y":262,"width":130,"height":10}},{"id":"73d7e8a6-ab8c-466d-9ac7-5c8387e5b97d","block_type":"box","text":"Level 1","page_number":16,"box":{"x":522,"y":283,"width":45,"height":7}},{"id":"51d35b25-7d97-473d-b134-c7f95c836732","block_type":"box","text":"The unadjusted quoted price in an active market","page_number":16,"box":{"x":593,"y":283,"width":349,"height":10}},{"id":"29a27efc-508c-4535-a043-4e2014e58130","block_type":"box","text":"for identical assets or liabilities that the entity can","page_number":16,"box":{"x":592,"y":297,"width":349,"height":10}},{"id":"347fb445-c515-4e19-987d-4982d65b47f8","block_type":"box","text":"access at the measurement date.","page_number":16,"box":{"x":593,"y":311,"width":224,"height":8}},{"id":"01bb11e8-7e7f-478c-8087-f7a0f49ad612","block_type":"box","text":"Level 2","page_number":16,"box":{"x":522,"y":332,"width":47,"height":8}},{"id":"9a2fe5b0-ac1d-4ae4-8704-45390b53b3f0","block_type":"box","text":"Inputs other than quoted prices included within","page_number":16,"box":{"x":594,"y":332,"width":347,"height":10}},{"id":"bc422783-4fff-43db-8afa-b8a0146730f6","block_type":"box","text":"Level 1 that are observable (i.e. developed using","page_number":16,"box":{"x":593,"y":346,"width":348,"height":10}},{"id":"5b7bcc72-625b-44a3-8445-3f6535c2d856","block_type":"box","text":"market data) for the asset or liability, either directly","page_number":16,"box":{"x":593,"y":361,"width":349,"height":10}},{"id":"d1cab580-d50a-4acd-9a59-39e1cb2ca291","block_type":"box","text":"or indirectly.","page_number":16,"box":{"x":593,"y":375,"width":80,"height":10}},{"id":"c12c4d70-f1f0-4cfb-ba8b-98b31086e816","block_type":"box","text":"Level 3","page_number":16,"box":{"x":522,"y":396,"width":47,"height":8}},{"id":"64f317f0-6a9f-430b-9958-7cc14f3760c9","block_type":"box","text":"Inputs are unobservable (i.e. for which market data","page_number":16,"box":{"x":594,"y":396,"width":348,"height":10}},{"id":"42f951dd-055c-4da3-a798-15c4843545e7","block_type":"box","text":"is unavailable) for the asset or liability.","page_number":16,"box":{"x":593,"y":410,"width":255,"height":10}},{"id":"51e14b2d-40d3-4a8a-80bd-329a9cf165dd","block_type":"box","text":"As at the period ended 30","page_number":16,"box":{"x":521,"y":431,"width":186,"height":10}},{"id":"8f081665-6bd3-4f5f-bf7a-c0c7d4e4667d","block_type":"box","text":"June 2026","page_number":16,"box":{"x":713,"y":431,"width":73,"height":8}},{"id":"287c50e4-7885-4b24-a8d0-af297eacc889","block_type":"box","text":"Level","page_number":16,"box":{"x":522,"y":456,"width":28,"height":6}},{"id":"b3d2584a-6a96-4868-95eb-ac34070e7c91","block_type":"box","text":"1","page_number":16,"box":{"x":718,"y":456,"width":3,"height":6}},{"id":"cf3d887a-079f-4d1c-847c-7055ab71efef","block_type":"box","text":"2","page_number":16,"box":{"x":788,"y":456,"width":6,"height":6}},{"id":"95483365-b162-495f-829d-fa0bacfc14e6","block_type":"box","text":"3","page_number":16,"box":{"x":860,"y":456,"width":6,"height":6}},{"id":"c53c556b-015a-4369-a305-c8fa90641476","block_type":"box","text":"Total","page_number":16,"box":{"x":910,"y":456,"width":27,"height":6}},{"id":"bdbee01f-0ff8-4222-aa07-d5e05709d67d","block_type":"box","text":"£’000","page_number":16,"box":{"x":693,"y":466,"width":30,"height":6}},{"id":"c8487d2b-dfb0-4dea-b4be-308c0e6c2416","block_type":"box","text":"£’000","page_number":16,"box":{"x":764,"y":466,"width":30,"height":6}},{"id":"56ba3974-d3ee-497c-9d02-3d64d29966e4","block_type":"box","text":"£’000","page_number":16,"box":{"x":836,"y":466,"width":30,"height":6}},{"id":"223e133f-ca4e-460d-afbe-cf57e6517587","block_type":"box","text":"£’000","page_number":16,"box":{"x":907,"y":466,"width":30,"height":6}},{"id":"8f7f3f01-f6db-49cf-aee5-850287cbb90f","block_type":"box","text":"Investments","page_number":16,"box":{"x":522,"y":484,"width":69,"height":6}},{"id":"cdcc3e77-5d49-4e0e-b467-37988a97044f","block_type":"box","text":"Collective investment","page_number":16,"box":{"x":522,"y":502,"width":113,"height":6}},{"id":"f2cdf546-fad8-44ad-9cfb-7c6e96347383","block_type":"box","text":"schemes","page_number":16,"box":{"x":521,"y":511,"width":48,"height":6}},{"id":"a561cf71-fae5-4c12-b240-50b836eb0a61","block_type":"box","text":"–","page_number":16,"box":{"x":717,"y":505,"width":6,"height":1}},{"id":"04d39f73-2ed6-4988-bbce-dd3dfbf4932a","block_type":"box","text":"451,927","page_number":16,"box":{"x":752,"y":502,"width":42,"height":7}},{"id":"45b0ee95-949c-4bb0-b9e3-5da64207a6ad","block_type":"box","text":"–","page_number":16,"box":{"x":860,"y":505,"width":6,"height":1}},{"id":"6df26919-1eaa-4666-9fba-77fa087ebee3","block_type":"box","text":"451,927","page_number":16,"box":{"x":895,"y":502,"width":42,"height":7}},{"id":"bd253a90-25b4-4065-a3cf-94a6d76ba20b","block_type":"box","text":"Total","page_number":16,"box":{"x":521,"y":529,"width":27,"height":6}},{"id":"9b37e939-0aa2-4a32-96ce-5f375a14f04c","block_type":"box","text":"–","page_number":16,"box":{"x":717,"y":532,"width":6,"height":1}},{"id":"44ccbc3f-b071-40b3-95f9-79ea64ddc621","block_type":"box","text":"451,927","page_number":16,"box":{"x":752,"y":529,"width":42,"height":7}},{"id":"12b9dc1f-13cd-4f71-99a2-560e83c07e17","block_type":"box","text":"–","page_number":16,"box":{"x":860,"y":532,"width":6,"height":1}},{"id":"68c426a3-6918-490d-9305-8f5a71c2cbcb","block_type":"box","text":"451,927","page_number":16,"box":{"x":895,"y":529,"width":42,"height":7}},{"id":"f01ed222-8761-4588-a2a6-b3fbb87a6a14","block_type":"box","text":"As at the year ended 31","page_number":16,"box":{"x":521,"y":551,"width":168,"height":10}},{"id":"c91b1491-6e61-4a69-a042-8350e8aefbea","block_type":"box","text":"December 2025","page_number":16,"box":{"x":697,"y":551,"width":111,"height":7}},{"id":"aad0a940-3fab-4609-b56f-9a25be72cfe6","block_type":"box","text":"Level","page_number":16,"box":{"x":522,"y":576,"width":28,"height":6}},{"id":"ba84f208-675b-45db-a6f6-c9ea480d1ad2","block_type":"box","text":"1","page_number":16,"box":{"x":718,"y":576,"width":3,"height":6}},{"id":"7074b19d-18dc-4b21-a6dc-d9b701d34345","block_type":"box","text":"2","page_number":16,"box":{"x":788,"y":576,"width":6,"height":6}},{"id":"4620e4fc-190f-4e5e-84e1-716d8c3442ad","block_type":"box","text":"3","page_number":16,"box":{"x":860,"y":576,"width":6,"height":6}},{"id":"60e567f4-0667-4df7-bff5-e4bcb339d3e4","block_type":"box","text":"Total","page_number":16,"box":{"x":910,"y":576,"width":27,"height":6}},{"id":"ef96949e-0bfb-4ac6-9c06-eb29450a698b","block_type":"box","text":"£’000","page_number":16,"box":{"x":693,"y":585,"width":30,"height":6}},{"id":"b8a669f0-1160-4dfd-8f61-355ba26e9f0e","block_type":"box","text":"£’000","page_number":16,"box":{"x":764,"y":585,"width":30,"height":6}},{"id":"fe98682e-f881-41b2-8e2f-94bb0a7733b3","block_type":"box","text":"£’000","page_number":16,"box":{"x":836,"y":585,"width":30,"height":6}},{"id":"503685a5-9649-48d7-a41d-e271719bba78","block_type":"box","text":"£’000","page_number":16,"box":{"x":907,"y":585,"width":30,"height":6}},{"id":"5aff7b53-e5e7-481e-8587-e12c5cc7c838","block_type":"box","text":"Investments","page_number":16,"box":{"x":522,"y":604,"width":69,"height":6}},{"id":"a9c1ba9d-dc55-4f78-a7f4-d2ff6a9d29c5","block_type":"box","text":"Collective investment","page_number":16,"box":{"x":522,"y":621,"width":113,"height":6}},{"id":"d63b6395-ea23-4b92-8b6c-702109a6dc82","block_type":"box","text":"schemes","page_number":16,"box":{"x":521,"y":631,"width":48,"height":6}},{"id":"3b06c3c5-f44d-40cb-88ee-25b26c2c78a4","block_type":"box","text":"–","page_number":16,"box":{"x":717,"y":625,"width":6,"height":0}},{"id":"d83a6a02-9a90-40e0-af59-8ec84feef7d4","block_type":"box","text":"429,037","page_number":16,"box":{"x":752,"y":621,"width":42,"height":7}},{"id":"4bdc253d-d138-4b06-a38d-24ff89f6a062","block_type":"box","text":"–","page_number":16,"box":{"x":860,"y":625,"width":6,"height":0}},{"id":"8ae82b46-d05f-4984-a865-89f3d9a07cce","block_type":"box","text":"429,037","page_number":16,"box":{"x":895,"y":621,"width":42,"height":7}},{"id":"5d2e520f-445e-4778-b646-2a698e831064","block_type":"box","text":"Total","page_number":16,"box":{"x":521,"y":648,"width":27,"height":6}},{"id":"10a06930-2bb1-4479-901b-9abda6ff88dd","block_type":"box","text":"–","page_number":16,"box":{"x":717,"y":652,"width":6,"height":0}},{"id":"b3ab7f31-ee5e-43f5-9b2a-e35e179aabc7","block_type":"box","text":"429,037","page_number":16,"box":{"x":751,"y":648,"width":43,"height":8}},{"id":"01356b1d-c3d9-456a-992f-51471ce3edba","block_type":"box","text":"–","page_number":16,"box":{"x":860,"y":652,"width":6,"height":0}},{"id":"0772e68f-4e3b-4fe7-bd56-fe949a972e3e","block_type":"box","text":"429,037","page_number":16,"box":{"x":894,"y":648,"width":43,"height":8}},{"id":"e19aa029-99cf-4964-9e4d-c707627addcf","block_type":"box","text":"Royal London GMAP Diversified Bond Fund | Royal London Multi-Asset Funds ICVC","page_number":16,"box":{"x":465,"y":33,"width":448,"height":8}},{"id":"0873eb13-2db5-4b20-9184-a322b5c22c66","block_type":"box","text":"16","page_number":16,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"2dc7befd-41ba-4bbe-b59a-6b69142397ee","block_type":"box","text":"Manager’s Investment Report","page_number":17,"box":{"x":58,"y":151,"width":352,"height":14}},{"id":"f2a572ef-6340-4fdf-b372-cd3c533f4fc9","block_type":"box","text":"Cumulative Performance","page_number":17,"box":{"x":57,"y":181,"width":230,"height":9}},{"id":"caa27204-a001-42e8-9c98-c6d5821ea0e6","block_type":"box","text":"(% change to 30/06/26)","page_number":17,"box":{"x":57,"y":203,"width":164,"height":10}},{"id":"80ae09d8-045c-438c-b4fb-3318026061d3","block_type":"box","text":"6 month","page_number":17,"box":{"x":242,"y":231,"width":46,"height":6}},{"id":"16d16d7a-6b0a-47cd-96bb-6423f7391155","block_type":"box","text":"total","page_number":17,"box":{"x":263,"y":241,"width":25,"height":6}},{"id":"efaa2aa2-0f72-4f3e-aa97-c89add718e12","block_type":"box","text":"return","page_number":17,"box":{"x":254,"y":250,"width":34,"height":6}},{"id":"2132dc1b-c930-4df6-ba98-6cd0df40ce16","block_type":"box","text":"%","page_number":17,"box":{"x":279,"y":260,"width":9,"height":6}},{"id":"1b596e94-8b29-4be0-aa7a-b9c2b241abec","block_type":"box","text":"1 year","page_number":17,"box":{"x":316,"y":231,"width":34,"height":8}},{"id":"6e55e67e-cce3-4396-8285-cbb597a5501a","block_type":"box","text":"total","page_number":17,"box":{"x":324,"y":241,"width":25,"height":6}},{"id":"e2f971cd-8dcd-41b9-a54c-919bf63704ab","block_type":"box","text":"return","page_number":17,"box":{"x":315,"y":250,"width":34,"height":6}},{"id":"95330863-121f-46bd-8381-2720e4a23500","block_type":"box","text":"%","page_number":17,"box":{"x":340,"y":260,"width":9,"height":6}},{"id":"d087c57b-1019-4e11-ae52-e7db73ba5640","block_type":"box","text":"3 year","page_number":17,"box":{"x":376,"y":231,"width":34,"height":8}},{"id":"e9b654b4-4e21-4bdb-9f97-778650733dcc","block_type":"box","text":"total","page_number":17,"box":{"x":385,"y":241,"width":24,"height":6}},{"id":"91c1423d-2269-48d8-be46-0db7e21ec1cb","block_type":"box","text":"return","page_number":17,"box":{"x":376,"y":250,"width":33,"height":6}},{"id":"66cbbeac-8fc5-4561-bc3f-f33cf7a9a3c3","block_type":"box","text":"%","page_number":17,"box":{"x":400,"y":260,"width":10,"height":6}},{"id":"6144e737-acb1-487a-96ed-50aa7b966562","block_type":"box","text":"5 year","page_number":17,"box":{"x":437,"y":231,"width":34,"height":8}},{"id":"f2712382-080f-4eb5-88fb-8222c0861a7a","block_type":"box","text":"total","page_number":17,"box":{"x":445,"y":241,"width":25,"height":6}},{"id":"abb53063-066c-4ff9-b1c2-f778b65d0539","block_type":"box","text":"return","page_number":17,"box":{"x":436,"y":250,"width":34,"height":6}},{"id":"58ab42d5-522c-4e09-bb2d-ad2ac7694c9b","block_type":"box","text":"%","page_number":17,"box":{"x":461,"y":260,"width":9,"height":6}},{"id":"e32a666b-87b1-4578-9fe9-c0da23b327e4","block_type":"box","text":"Royal London GMAP","page_number":17,"box":{"x":58,"y":279,"width":111,"height":8}},{"id":"d3b0d58c-746a-43ad-8731-08394393a24d","block_type":"box","text":"Defensive Fund,","page_number":17,"box":{"x":58,"y":289,"width":85,"height":7}},{"id":"efa21f9c-81ae-4621-b75e-f371e146c027","block_type":"box","text":"Class M Accumulation","page_number":17,"box":{"x":57,"y":298,"width":118,"height":7}},{"id":"ee7a58b3-3bb5-4522-8cbd-24020923782f","block_type":"box","text":"3.75","page_number":17,"box":{"x":266,"y":280,"width":22,"height":6}},{"id":"bca09e80-9ed6-41a4-98fd-5ec07edf3028","block_type":"box","text":"9.05","page_number":17,"box":{"x":327,"y":280,"width":22,"height":6}},{"id":"55fad4f0-9eb2-4e8b-88bf-f3077723ea42","block_type":"box","text":"21.34","page_number":17,"box":{"x":381,"y":280,"width":29,"height":6}},{"id":"669657fa-b6d4-46a6-b866-baa0150b06dd","block_type":"box","text":"17.30","page_number":17,"box":{"x":444,"y":280,"width":26,"height":6}},{"id":"df004cb0-071e-4f58-9246-dcd22af75b8b","block_type":"box","text":"Royal London GMAP","page_number":17,"box":{"x":58,"y":318,"width":111,"height":8}},{"id":"9febcfa4-3c45-4e03-800c-3b617f7c9ff1","block_type":"box","text":"Defensive Fund,","page_number":17,"box":{"x":58,"y":327,"width":85,"height":8}},{"id":"a42b7a01-0195-4cd7-b18c-7b928c7cf74e","block_type":"box","text":"Class M Income","page_number":17,"box":{"x":57,"y":337,"width":85,"height":6}},{"id":"40b3f4a5-62ac-4935-8774-3c856bbd44a6","block_type":"box","text":"3.38","page_number":17,"box":{"x":266,"y":318,"width":22,"height":6}},{"id":"be10f7fd-ba79-49c3-8089-04a644dcaa34","block_type":"box","text":"8.64","page_number":17,"box":{"x":326,"y":318,"width":23,"height":6}},{"id":"1d72d02f-bb7b-4d56-b4bd-75cf9e5e4363","block_type":"box","text":"20.88","page_number":17,"box":{"x":380,"y":318,"width":30,"height":6}},{"id":"514f0eb4-cf47-4c37-9df8-6d6cfa7a4d8b","block_type":"box","text":"16.11","page_number":17,"box":{"x":444,"y":318,"width":25,"height":6}},{"id":"1c80cce9-e5e5-4c95-af8c-e0b6b1ddbabf","block_type":"box","text":"Royal London GMAP","page_number":17,"box":{"x":58,"y":357,"width":111,"height":7}},{"id":"5e9f1447-826b-440a-81a1-76d18e88d8b7","block_type":"box","text":"Defensive Fund,","page_number":17,"box":{"x":58,"y":366,"width":85,"height":7}},{"id":"6411d15c-e55e-4bc2-b1fc-0aed8cc6b9e3","block_type":"box","text":"Class P Accumulation","page_number":17,"box":{"x":57,"y":376,"width":116,"height":6}},{"id":"7de6cc17-2203-474f-b468-4ee107f3110f","block_type":"box","text":"3.86","page_number":17,"box":{"x":266,"y":357,"width":22,"height":6}},{"id":"2ed58251-342e-4548-b179-da9b94861734","block_type":"box","text":"9.14","page_number":17,"box":{"x":328,"y":357,"width":21,"height":6}},{"id":"33849935-d1d5-46c2-9165-f85bd54eb342","block_type":"box","text":"21.50","page_number":17,"box":{"x":381,"y":357,"width":29,"height":6}},{"id":"7ee493ff-bb45-4192-a018-485f0e4907f5","block_type":"box","text":"17.55","page_number":17,"box":{"x":444,"y":357,"width":26,"height":6}},{"id":"6fd90a91-dcd3-4a00-bf4e-4b2691c8b4aa","block_type":"box","text":"Royal London GMAP","page_number":17,"box":{"x":58,"y":395,"width":111,"height":8}},{"id":"934dcb04-1523-4bc3-9ced-b25f6164f1de","block_type":"box","text":"Defensive Fund,","page_number":17,"box":{"x":58,"y":405,"width":85,"height":7}},{"id":"98f086ee-b784-42da-bb80-0a62a17b9d41","block_type":"box","text":"Class R Accumulation","page_number":17,"box":{"x":57,"y":414,"width":117,"height":6}},{"id":"667d0c5b-1bcf-43c6-8720-efacafa3a1d2","block_type":"box","text":"3.98","page_number":17,"box":{"x":266,"y":395,"width":22,"height":6}},{"id":"6398a229-5315-40fb-b100-59f99ed800f2","block_type":"box","text":"9.53","page_number":17,"box":{"x":326,"y":395,"width":23,"height":6}},{"id":"84573c9f-f792-4062-b659-1f67d0014453","block_type":"box","text":"22.74","page_number":17,"box":{"x":381,"y":395,"width":29,"height":6}},{"id":"1ec896d6-a1d3-4acb-a890-86d51642506c","block_type":"box","text":"19.55","page_number":17,"box":{"x":442,"y":395,"width":28,"height":6}},{"id":"4f6313c1-8627-4be9-af35-5fb0a8e1ac08","block_type":"box","text":"Royal London GMAP","page_number":17,"box":{"x":58,"y":434,"width":111,"height":7}},{"id":"8226beea-6869-45dd-933a-4d331f72a433","block_type":"box","text":"Defensive Fund,","page_number":17,"box":{"x":58,"y":443,"width":85,"height":7}},{"id":"7c38b86c-aedb-4bb7-b197-7e85d164593b","block_type":"box","text":"Class S Accumulation","page_number":17,"box":{"x":57,"y":453,"width":116,"height":6}},{"id":"0f075050-40b2-4b6e-bcde-2db0b4de759e","block_type":"box","text":"4.01","page_number":17,"box":{"x":266,"y":434,"width":21,"height":6}},{"id":"f7ea8e13-f75c-4b79-8446-8f7a29f3e9a4","block_type":"box","text":"9.54","page_number":17,"box":{"x":326,"y":434,"width":23,"height":6}},{"id":"e42e3d01-b67e-4d16-ae92-482b49de7d22","block_type":"box","text":"–","page_number":17,"box":{"x":404,"y":437,"width":6,"height":1}},{"id":"4335a0f6-9a28-44cc-97b0-e4fd53d4971e","block_type":"box","text":"–","page_number":17,"box":{"x":464,"y":437,"width":7,"height":1}},{"id":"4e51a5ef-c188-42fb-8f59-068dff9c69c8","block_type":"box","text":"Royal London GMAP","page_number":17,"box":{"x":58,"y":472,"width":111,"height":8}},{"id":"0ce13f25-6f4e-49f3-9b75-318c03acbd4b","block_type":"box","text":"Defensive Fund,","page_number":17,"box":{"x":58,"y":482,"width":85,"height":7}},{"id":"56abc955-4bba-4358-8365-54b7f0dd01cc","block_type":"box","text":"Class Z Accumulation","page_number":17,"box":{"x":57,"y":491,"width":115,"height":6}},{"id":"69e421f1-31ff-42ad-94b9-5ddc4bac8b18","block_type":"box","text":"3.89","page_number":17,"box":{"x":266,"y":472,"width":22,"height":6}},{"id":"b7f667b3-9a08-4bb1-b3c0-672d3fbf7e21","block_type":"box","text":"9.18","page_number":17,"box":{"x":328,"y":472,"width":21,"height":6}},{"id":"50d21656-1b99-420b-ab4b-74793fe37291","block_type":"box","text":"21.93","page_number":17,"box":{"x":381,"y":472,"width":29,"height":6}},{"id":"eb8c36fd-1ec6-4ea3-afb1-56791d1156d4","block_type":"box","text":"–","page_number":17,"box":{"x":464,"y":476,"width":7,"height":0}},{"id":"599300d2-b581-4f76-8265-10fb12b82d82","block_type":"box","text":"IA Mixed Investment 0-35%","page_number":17,"box":{"x":58,"y":511,"width":145,"height":6}},{"id":"94434c4a-32cc-491c-ba99-68068fce2782","block_type":"box","text":"Shares Total Return (TR)*","page_number":17,"box":{"x":57,"y":520,"width":138,"height":8}},{"id":"3aea23eb-6a2e-4c95-bc38-dce8409078a1","block_type":"box","text":"3.40","page_number":17,"box":{"x":266,"y":511,"width":22,"height":6}},{"id":"39659e19-b8e4-4425-b16a-b34e2a33b17e","block_type":"box","text":"8.60","page_number":17,"box":{"x":326,"y":511,"width":23,"height":6}},{"id":"cd2ac12d-92da-4c99-8653-d5d3fe40a565","block_type":"box","text":"22.79","page_number":17,"box":{"x":381,"y":511,"width":29,"height":6}},{"id":"094094fe-a589-4e29-a8da-fd0eff3aac25","block_type":"box","text":"12.29","page_number":17,"box":{"x":442,"y":511,"width":28,"height":6}},{"id":"53e39465-94c5-4ecd-af4b-bdb33b690859","block_type":"box","text":"* Benchmark","page_number":17,"box":{"x":57,"y":548,"width":69,"height":6}},{"id":"64a715d4-c6f5-485c-8139-369381f94278","block_type":"box","text":"Class Z Accumulation launched on 31 January 2023 and Class S Accumulation","page_number":17,"box":{"x":57,"y":562,"width":420,"height":8}},{"id":"49fb0113-0eae-42d4-9cce-cabb0ab4b750","block_type":"box","text":"launched on 30 September 2024.","page_number":17,"box":{"x":57,"y":573,"width":176,"height":7}},{"id":"b1059bad-919f-4021-837a-7ca94d4ef8ec","block_type":"box","text":"Past performance is not necessarily a reliable indicator","page_number":17,"box":{"x":58,"y":592,"width":420,"height":10}},{"id":"69968c07-3000-4b27-b6ba-1b4f4cf08297","block_type":"box","text":"of future performance. The value of investments and the","page_number":17,"box":{"x":57,"y":606,"width":420,"height":10}},{"id":"ead1e870-27f2-49fc-ba5b-defe92a0070b","block_type":"box","text":"income from them is not guaranteed and may go down","page_number":17,"box":{"x":58,"y":620,"width":419,"height":10}},{"id":"a0d5293a-21b9-4bd8-b868-d3fbd8cde704","block_type":"box","text":"as well as up and investors may not get back the amount","page_number":17,"box":{"x":57,"y":635,"width":421,"height":10}},{"id":"9e0de2cc-ccbd-4c0b-8b7a-e6657c484e22","block_type":"box","text":"originally invested.","page_number":17,"box":{"x":57,"y":649,"width":138,"height":10}},{"id":"39ae21cd-50e3-4579-bf3a-261104b9b134","block_type":"box","text":"Source: Royal London Asset Management Limited and","page_number":17,"box":{"x":57,"y":670,"width":420,"height":10}},{"id":"4fb36f3e-f2b0-4625-838d-194d84e6bff6","block_type":"box","text":"Morningstar, as at 30","page_number":17,"box":{"x":58,"y":684,"width":165,"height":10}},{"id":"774178fe-1e3a-45ef-9623-468358f049dd","block_type":"box","text":"June 2026. Returns are net of","page_number":17,"box":{"x":237,"y":684,"width":242,"height":8}},{"id":"45284eed-6642-466a-88f1-cbbe05da8c18","block_type":"box","text":"management fees. Investors should also note that the total","page_number":17,"box":{"x":58,"y":698,"width":419,"height":10}},{"id":"34e69014-9cd0-4827-93ee-0f3e2c8e9daf","block_type":"box","text":"return is calculated on the Fund’s official 2pm price whereas the","page_number":17,"box":{"x":58,"y":713,"width":419,"height":10}},{"id":"ba6b9d5b-5f37-4a7b-bca8-3ceca265fcc7","block_type":"box","text":"Fund has been valued as at close of business for the Closing","page_number":17,"box":{"x":58,"y":727,"width":419,"height":10}},{"id":"3a0b1247-31a6-4674-b02b-cbe0e47bec6b","block_type":"box","text":"Net Asset Value quoted within the Comparative Table. For","page_number":17,"box":{"x":58,"y":741,"width":420,"height":10}},{"id":"cfb6ce6c-453a-4d94-b3d6-9d111f6457e6","block_type":"box","text":"further information, including ongoing performance and Fund","page_number":17,"box":{"x":57,"y":755,"width":420,"height":10}},{"id":"e7088727-05be-472f-94da-7ab7a2f2bbf5","block_type":"box","text":"breakdown information, please refer to the latest factsheet at","page_number":17,"box":{"x":58,"y":770,"width":420,"height":10}},{"id":"bf1c7458-c567-4293-becf-fd83254162d5","block_type":"box","text":"www.rlam.com.","page_number":17,"box":{"x":57,"y":784,"width":103,"height":8}},{"id":"540aabd7-2507-4e58-8194-f3ac935e92f3","block_type":"box","text":"Fund objective","page_number":17,"box":{"x":522,"y":151,"width":135,"height":11}},{"id":"c72b266f-8645-4234-95bf-a4850b76b366","block_type":"box","text":"The Fund aims to achieve capital growth over rolling 5-year","page_number":17,"box":{"x":521,"y":169,"width":422,"height":10}},{"id":"39fb567f-8d24-41bd-a0de-f60dedc2bbb5","block_type":"box","text":"periods, after the deduction of charges. The Fund forms part of","page_number":17,"box":{"x":522,"y":184,"width":421,"height":10}},{"id":"d8d7b9aa-149e-444e-aa4b-361c1751df9c","block_type":"box","text":"the Royal London Global Multi-Asset Portfolio (“GMAP”) range","page_number":17,"box":{"x":521,"y":198,"width":421,"height":10}},{"id":"417d49c7-dd0a-41a6-8ab6-9c089d9baf46","block_type":"box","text":"and aims to achieve a high level of risk and return relative to","page_number":17,"box":{"x":521,"y":212,"width":421,"height":10}},{"id":"fa4b4933-f713-4437-b59b-41fea24876bf","block_type":"box","text":"other funds in the GMAP range as further described in the","page_number":17,"box":{"x":521,"y":226,"width":421,"height":10}},{"id":"db0810bf-b833-4c18-857a-0ad5fd996f65","block_type":"box","text":"investment strategy. The performance comparator for the","page_number":17,"box":{"x":522,"y":241,"width":420,"height":10}},{"id":"2f0b79e8-f7ae-45d9-889f-ceeb413b6bd6","block_type":"box","text":"Fund is the IA Mixed Investment 40–85% Shares sector (“IA","page_number":17,"box":{"x":522,"y":255,"width":420,"height":10}},{"id":"450d96f6-833b-4b2c-b6e3-db0fe9fd9fa8","block_type":"box","text":"Sector”). Funds in the IA Sector must invest between 40% and","page_number":17,"box":{"x":522,"y":269,"width":419,"height":10}},{"id":"3d743082-cd46-43bd-8a8a-a7ac5a5ac81e","block_type":"box","text":"85% of their assets in shares. The Fund’s assets are generally","page_number":17,"box":{"x":522,"y":283,"width":420,"height":10}},{"id":"bae4e9fd-c5d0-437b-b20e-f59126b2e963","block_type":"box","text":"consistent with these investment parameters therefore the IA","page_number":17,"box":{"x":522,"y":298,"width":420,"height":10}},{"id":"0e1c3269-e244-46dd-8e1b-05e42a0c218e","block_type":"box","text":"Sector is considered appropriate as a performance comparator.","page_number":17,"box":{"x":522,"y":312,"width":419,"height":10}},{"id":"d25fa7f2-039c-4bd8-9eb1-6cd093960fef","block_type":"box","text":"Management of the Fund is not restricted by the use of the IA","page_number":17,"box":{"x":522,"y":326,"width":420,"height":10}},{"id":"430cccd4-5cdd-448b-bcb5-54a734b08354","block_type":"box","text":"Sector as a performance comparator.","page_number":17,"box":{"x":522,"y":340,"width":251,"height":10}},{"id":"6f69abf5-ea50-4a8d-a7e4-60477dc33e79","block_type":"box","text":"Performance overview","page_number":17,"box":{"x":522,"y":367,"width":209,"height":9}},{"id":"3696e9d7-9e1a-43c4-ba01-3cded9d12c01","block_type":"box","text":"The Fund outperformed the benchmark during the period","page_number":17,"box":{"x":521,"y":386,"width":420,"height":10}},{"id":"02f89348-5e5e-4b53-8dce-2645f349e128","block_type":"box","text":"under review.","page_number":17,"box":{"x":522,"y":400,"width":88,"height":8}},{"id":"45450cd7-6e94-442d-b9ef-ceac6b1952ac","block_type":"box","text":"Market overview","page_number":17,"box":{"x":522,"y":427,"width":154,"height":9}},{"id":"b9d03096-9732-4d9c-8c00-4743fcaeb935","block_type":"box","text":"Geopolitical tensions in the Middle East were a key driver of","page_number":17,"box":{"x":522,"y":445,"width":421,"height":10}},{"id":"9f67c1da-8574-4ff1-99a7-9f510b3590ad","block_type":"box","text":"markets over the period, which saw commodities rise materially","page_number":17,"box":{"x":522,"y":460,"width":420,"height":10}},{"id":"cc0337c0-4aef-4225-921a-dcdf9f3bda26","block_type":"box","text":"over the start of the year. Despite this, global equity markets","page_number":17,"box":{"x":521,"y":474,"width":421,"height":10}},{"id":"ec922cab-7b57-4c17-a106-35be6a851941","block_type":"box","text":"performed well over the period, with euphoria around Artificial","page_number":17,"box":{"x":522,"y":488,"width":419,"height":10}},{"id":"d6ce8804-ee1d-49b0-b1a8-80278041b12a","block_type":"box","text":"Intelligence (AI) once again boosting investor sentiment.","page_number":17,"box":{"x":522,"y":502,"width":419,"height":10}},{"id":"bbd2f82c-5912-42cc-b8e0-6ba5284b6ca9","block_type":"box","text":"Semiconductor companies, which are at the heart of the AI","page_number":17,"box":{"x":522,"y":517,"width":419,"height":10}},{"id":"19c07c22-13cc-4f2a-b5b2-d3f52410aff7","block_type":"box","text":"infrastructure buildout, were beneficiaries, rising sharply.","page_number":17,"box":{"x":522,"y":531,"width":419,"height":10}},{"id":"f47a70a4-14e7-4ce1-bb2e-5688b9d22e4b","block_type":"box","text":"Bond yields ended the period higher, as rising inflation risk","page_number":17,"box":{"x":522,"y":545,"width":420,"height":10}},{"id":"086b24ab-c418-41a9-8961-c90d03e5b862","block_type":"box","text":"saw markets moved to price in interest rate hikes from global","page_number":17,"box":{"x":521,"y":559,"width":420,"height":10}},{"id":"a2091e7d-176e-4d5d-a7c6-db69c7dd34a3","block_type":"box","text":"central banks.","page_number":17,"box":{"x":522,"y":574,"width":94,"height":8}},{"id":"c4dfe0a2-2f31-4874-b62b-1f2bbc55f594","block_type":"box","text":"Royal London GMAP Defensive Fund","page_number":17,"box":{"x":59,"y":94,"width":526,"height":17}},{"id":"61c33fef-3535-4f67-a46a-0355264b3146","block_type":"box","text":"Royal London GMAP Defensive Fund | Royal London Multi-Asset Funds ICVC","page_number":17,"box":{"x":500,"y":33,"width":413,"height":8}},{"id":"a72fbd93-0c7b-4678-a953-aab92dc6c8e1","block_type":"box","text":"17","page_number":17,"box":{"x":931,"y":33,"width":11,"height":6}},{"id":"20eee664-0546-4ca8-9a57-0ea9a60a2a04","block_type":"box","text":"Portfolio commentary","page_number":18,"box":{"x":58,"y":151,"width":198,"height":11}},{"id":"c71f9c1c-c77d-4f32-8441-c1666db80e0f","block_type":"box","text":"Having begun the year with a tactically overweight position in","page_number":18,"box":{"x":58,"y":169,"width":419,"height":10}},{"id":"0bdbed0b-2283-46a6-b35c-b89598948913","block_type":"box","text":"equities, the Fund moved to a more defensive position towards","page_number":18,"box":{"x":57,"y":184,"width":421,"height":10}},{"id":"76829e4b-7501-46f5-ac84-dbd1a7aa6750","block_type":"box","text":"the end of the first quarter, noting the sharp rise of uncertainty","page_number":18,"box":{"x":57,"y":198,"width":421,"height":10}},{"id":"0f683d41-14ba-46e5-9427-5cd28432beb4","block_type":"box","text":"which accompanied the onset of the war between US and Iran.","page_number":18,"box":{"x":57,"y":212,"width":420,"height":10}},{"id":"897d8a89-1b3a-408d-8b72-9314589fc811","block_type":"box","text":"This saw the Fund move to a tactically underweight position","page_number":18,"box":{"x":57,"y":226,"width":420,"height":10}},{"id":"c13ac075-7d52-44c2-96a9-d8fa3ee87944","block_type":"box","text":"heading into the Spring. The Fund shortly added back to","page_number":18,"box":{"x":58,"y":241,"width":420,"height":10}},{"id":"c23c8bf6-0add-4b81-ab3f-a8517bc853d0","block_type":"box","text":"equities at the lower levels, as investor sentiment started to","page_number":18,"box":{"x":57,"y":255,"width":420,"height":10}},{"id":"5c418062-85df-42cd-af68-91e2b8e1d1c7","block_type":"box","text":"improve from oversold levels on renewed AI enthusiasm.","page_number":18,"box":{"x":58,"y":269,"width":380,"height":10}},{"id":"6705bd8c-becf-49d3-b57f-30d4ef1713aa","block_type":"box","text":"At the regional level, tactical positioning has mostly been","page_number":18,"box":{"x":57,"y":290,"width":420,"height":10}},{"id":"efc31699-005a-4f95-a026-efe2fcbec2d5","block_type":"box","text":"overweight Japan, the US and emerging markets supported","page_number":18,"box":{"x":57,"y":304,"width":420,"height":10}},{"id":"36cb658e-5d05-4e85-a12e-37b2d0272ece","block_type":"box","text":"by strong earnings and the enthusiasm around AI stocks.","page_number":18,"box":{"x":58,"y":319,"width":419,"height":10}},{"id":"8ea7da2d-295b-49dd-bf3e-4792d703aa64","block_type":"box","text":"The Fund has also remained tactically underweight Europe","page_number":18,"box":{"x":57,"y":333,"width":420,"height":10}},{"id":"b16082f0-3ae9-42c4-afc1-55b94f897938","block_type":"box","text":"throughout most of the period as earnings continued to be","page_number":18,"box":{"x":57,"y":347,"width":420,"height":10}},{"id":"2cd77e98-eab4-4957-ac7f-6f221a491231","block_type":"box","text":"lacklustre and the region suffered with its greater sensitivity to","page_number":18,"box":{"x":58,"y":361,"width":419,"height":10}},{"id":"da8316ba-8108-45aa-b2a0-4da6fd78169b","block_type":"box","text":"the higher energy prices.","page_number":18,"box":{"x":57,"y":376,"width":167,"height":10}},{"id":"a16d43da-167e-4fbc-93e5-e7b61961e1bb","block_type":"box","text":"Elsewhere, our strategic allocation to commodities proved","page_number":18,"box":{"x":58,"y":397,"width":419,"height":10}},{"id":"493dd005-edc5-4c98-a7ff-ac094f7420c9","block_type":"box","text":"beneficial particularly in the early months of 2026, as the","page_number":18,"box":{"x":58,"y":411,"width":419,"height":10}},{"id":"5ea159ee-d5e0-4134-97c7-f69a0927c67f","block_type":"box","text":"asset class surged over the quarter as escalating geopolitical","page_number":18,"box":{"x":57,"y":425,"width":420,"height":10}},{"id":"a823d1e4-4e39-47af-8965-8e147bcd5670","block_type":"box","text":"tensions culminated in direct military conflict with Iran. Brent","page_number":18,"box":{"x":57,"y":439,"width":421,"height":10}},{"id":"b4384224-b5fa-48d4-8e7e-28229b73ec7a","block_type":"box","text":"crude recorded its largest quarterly gain since the Gulf War in","page_number":18,"box":{"x":57,"y":454,"width":420,"height":10}},{"id":"6d32fcca-9445-426d-a215-4cd4a8d55d81","block_type":"box","text":"1990 (+94%).","page_number":18,"box":{"x":58,"y":468,"width":87,"height":10}},{"id":"f9b56582-992f-46ae-a21d-cecc711417fc","block_type":"box","text":"Gold had been held as a separate tactical position heading","page_number":18,"box":{"x":57,"y":489,"width":420,"height":10}},{"id":"445c73bf-0905-4405-8e0a-a986a076189f","block_type":"box","text":"into the year before being fully removed towards the end of","page_number":18,"box":{"x":58,"y":503,"width":421,"height":10}},{"id":"7a87068a-1291-4795-bd7f-e801b74d56cd","block_type":"box","text":"March. The position had continued to add value in the Fund,","page_number":18,"box":{"x":58,"y":518,"width":419,"height":9}},{"id":"c83f9343-5fbe-4552-98d4-1486d44fdbc5","block_type":"box","text":"benefitting last year from a backdrop of elevated risks around","page_number":18,"box":{"x":58,"y":532,"width":419,"height":10}},{"id":"cdca935c-cd05-49a5-8cdb-2ce7444d11ae","block_type":"box","text":"geopolitics and US policy.","page_number":18,"box":{"x":57,"y":546,"width":173,"height":10}},{"id":"94bfaf07-b93b-423a-aa7d-aec5b9ecca14","block_type":"box","text":"Manager’s Investment Report","page_number":18,"box":{"x":58,"y":94,"width":359,"height":14}},{"id":"fbdede89-b826-4c62-b07c-ddc116caa339","block_type":"box","text":"(continued)","page_number":18,"box":{"x":418,"y":97,"width":75,"height":10}},{"id":"77c60aef-8ae1-4f23-8c25-8619c710f297","block_type":"box","text":"Investment outlook","page_number":18,"box":{"x":522,"y":151,"width":179,"height":9}},{"id":"b2db020f-061a-42b8-af3f-bc1a1ab5c24a","block_type":"box","text":"The Investment Clock is in Stagflation, reflecting the high oil","page_number":18,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"5f2dfe0d-1813-4b48-93c7-25b89b55de43","block_type":"box","text":"price and weaker business surveys amid the still uncertain US","page_number":18,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"b0e8dec4-6199-4f9e-8225-8caefd990c96","block_type":"box","text":"Iran conflict.","page_number":18,"box":{"x":522,"y":198,"width":81,"height":8}},{"id":"15e1fae3-d88d-4ecd-980f-72e91e746ae5","block_type":"box","text":"Energy prices retreated last quarter on signs of a fragile","page_number":18,"box":{"x":522,"y":219,"width":420,"height":10}},{"id":"7815c330-8acf-4343-b521-de8a2edd6442","block_type":"box","text":"peace deal, but tensions have since risen again. Commodities","page_number":18,"box":{"x":522,"y":233,"width":420,"height":10}},{"id":"9249aebc-de98-4914-ae86-f9968ef62fdc","block_type":"box","text":"remain a good hedge against a renewed flare up in geopolitical","page_number":18,"box":{"x":522,"y":247,"width":419,"height":10}},{"id":"a75c4609-e4dd-4290-b6df-8fd7e8ae4ce1","block_type":"box","text":"tensions and spikes in inflation.","page_number":18,"box":{"x":521,"y":262,"width":210,"height":10}},{"id":"6e9824a2-f231-4a5d-976a-8de5c8d42ef2","block_type":"box","text":"The AI boom is raising corporate earnings of technology","page_number":18,"box":{"x":521,"y":283,"width":421,"height":10}},{"id":"72474deb-b08a-4acc-863a-6c5398652583","block_type":"box","text":"stocks. Cycle-adjusted valuations are near dot com era levels.","page_number":18,"box":{"x":521,"y":297,"width":420,"height":10}},{"id":"abb7146f-d801-4f4a-9b39-150e7cbc7de1","block_type":"box","text":"Innovation waves often get overblown in financial markets,","page_number":18,"box":{"x":522,"y":311,"width":419,"height":10}},{"id":"b65552f7-5347-481c-ac98-88995c2f502f","block_type":"box","text":"even when their long-term impact is transformative.","page_number":18,"box":{"x":521,"y":325,"width":345,"height":10}},{"id":"ab7cc7c8-3620-4d94-91e9-21b719ef64a4","block_type":"box","text":"Tactically, we maintain a moderate overweight position in","page_number":18,"box":{"x":521,"y":346,"width":420,"height":10}},{"id":"dcd60496-5d36-4dce-b8b6-c95aa85879cc","block_type":"box","text":"equities and underweight position in government bonds.","page_number":18,"box":{"x":521,"y":361,"width":377,"height":10}},{"id":"ac106fa8-0826-48de-9e7e-35650f90639d","block_type":"box","text":"Please see our Investment Clock blog at www.rlam.com for our","page_number":18,"box":{"x":522,"y":382,"width":421,"height":10}},{"id":"0771b491-6990-4c55-8e70-bcc327e64655","block_type":"box","text":"latest views.","page_number":18,"box":{"x":522,"y":396,"width":81,"height":8}},{"id":"59959dc7-75d6-4427-bad7-c11e7f195ddf","block_type":"box","text":"Trevor Greetham","page_number":18,"box":{"x":521,"y":438,"width":122,"height":8}},{"id":"f0ac708b-f763-4702-8a84-8090036b8783","block_type":"box","text":"Fund Manager","page_number":18,"box":{"x":522,"y":452,"width":104,"height":10}},{"id":"808c4d4d-5a02-4974-9959-e8db5b29feaf","block_type":"box","text":"Royal London Asset Management Limited","page_number":18,"box":{"x":522,"y":466,"width":303,"height":10}},{"id":"f2c01402-2eb4-4268-8304-c3e203aa6236","block_type":"box","text":"30","page_number":18,"box":{"x":522,"y":481,"width":15,"height":7}},{"id":"8596800d-8053-47bb-b75d-5b725beb15ee","block_type":"box","text":"June 2026","page_number":18,"box":{"x":542,"y":481,"width":74,"height":7}},{"id":"debc1f6c-a390-44dc-8556-5c2470d1b689","block_type":"box","text":"Please note that this commentary is written as at end of the","page_number":18,"box":{"x":522,"y":515,"width":420,"height":10}},{"id":"e942056c-1eba-4554-a0cd-8dd38f0beef7","block_type":"box","text":"review period. For insights into market events or positioning","page_number":18,"box":{"x":522,"y":528,"width":419,"height":10}},{"id":"31f8dfab-9f1e-46e9-9d03-b398e06ff114","block_type":"box","text":"since then, please go to www.rlam.com.","page_number":18,"box":{"x":521,"y":541,"width":270,"height":10}},{"id":"e2ff1dd6-3a6a-45bf-8d30-acff7e8ab6b5","block_type":"box","text":"This report covers investment performance, activity and","page_number":18,"box":{"x":521,"y":557,"width":420,"height":10}},{"id":"834eade1-da17-49bf-90c7-a9aeb6117cda","block_type":"box","text":"outlook. For a wider look at the Fund, our Annual Assessment","page_number":18,"box":{"x":521,"y":570,"width":421,"height":10}},{"id":"39adc93e-f21f-4de4-b600-e88a2676e61e","block_type":"box","text":"of Value report is available at www.rlam.com.","page_number":18,"box":{"x":521,"y":583,"width":306,"height":10}},{"id":"d08448d2-bc02-4e30-959b-e1f6b3a38480","block_type":"box","text":"For further help on some of the terms used, please see our","page_number":18,"box":{"x":522,"y":600,"width":421,"height":10}},{"id":"140c4b8a-0460-462f-97c3-983996c5c155","block_type":"box","text":"glossary at www.rlam.com/uk/individual-investors/glossary.","page_number":18,"box":{"x":521,"y":613,"width":400,"height":10}},{"id":"6aa4a2e1-7342-4e49-9d60-c0633f0233dd","block_type":"box","text":"The Task Force on Climate-related Financial Disclosures","page_number":18,"box":{"x":521,"y":629,"width":421,"height":8}},{"id":"bb35f6ad-7d78-46c6-83e9-6445e38e15e2","block_type":"box","text":"(TCFD) Report can be found under the relevant Fund name","page_number":18,"box":{"x":522,"y":642,"width":420,"height":10}},{"id":"a14219c5-cfbe-44d5-9999-0501db933090","block_type":"box","text":"at","page_number":18,"box":{"x":521,"y":656,"width":13,"height":7}},{"id":"40677ace-0c8b-47f7-a1d7-1877d2bb389d","block_type":"box","text":"https://www.rlam.com/uk/individual-investors/funds","page_number":18,"box":{"x":545,"y":655,"width":392,"height":10}},{"id":"835e4b50-4502-4133-957b-34d643e1d7dc","block_type":"box","text":".","page_number":18,"box":{"x":940,"y":662,"width":1,"height":1}},{"id":"05c4e98d-5737-4518-9689-a13e684e9b46","block_type":"box","text":"This report has been prepared in accordance with the","page_number":18,"box":{"x":521,"y":669,"width":421,"height":9}},{"id":"04c5de4d-757a-49d1-a37e-01987711006e","block_type":"box","text":"recommendations of the TCFD, which aims to help the","page_number":18,"box":{"x":522,"y":682,"width":420,"height":9}},{"id":"bc45bb71-564e-498f-99e3-ea27040d8f35","block_type":"box","text":"investment community build a more in-depth and consistent","page_number":18,"box":{"x":522,"y":695,"width":420,"height":10}},{"id":"822fcdcb-15d7-4d48-82a0-d9fdf7acd836","block_type":"box","text":"picture of the impact of climate change. A copy of Royal","page_number":18,"box":{"x":522,"y":708,"width":419,"height":10}},{"id":"156124af-0703-4f65-b5f9-f5058e06f3dd","block_type":"box","text":"London Asset Management Limited’s annual TCFD Report","page_number":18,"box":{"x":522,"y":721,"width":420,"height":10}},{"id":"933e219b-c0a5-4e9a-a360-47d56ff064af","block_type":"box","text":"can also be found on our website.","page_number":18,"box":{"x":522,"y":734,"width":227,"height":8}},{"id":"37560684-d8a3-42b3-9f6a-2933c5ef8e66","block_type":"box","text":"The views expressed are the author’s own and do not","page_number":18,"box":{"x":521,"y":750,"width":421,"height":10}},{"id":"34b8176c-4b33-42e4-bbb6-d09513e8f5bb","block_type":"box","text":"constitute investment advice and are not an indication","page_number":18,"box":{"x":522,"y":763,"width":419,"height":8}},{"id":"56ce6f63-6106-4472-bd58-49e2a8d0c884","block_type":"box","text":"of future Fund performance. Portfolio holdings are","page_number":18,"box":{"x":521,"y":776,"width":421,"height":10}},{"id":"a9ae8598-b4e8-4a10-b0d5-788d17afcb66","block_type":"box","text":"subject to change, for information only and are not","page_number":18,"box":{"x":521,"y":789,"width":421,"height":10}},{"id":"269c417d-cdec-4c77-83ce-174f76aea104","block_type":"box","text":"investment recommendations.","page_number":18,"box":{"x":522,"y":803,"width":202,"height":7}},{"id":"00eb3fdf-2a1e-43a3-a6f3-45ff9859c164","block_type":"box","text":"Source: Royal London Asset Management Limited, unless","page_number":18,"box":{"x":522,"y":819,"width":392,"height":10}},{"id":"022de4ef-3ea6-4e97-abf2-db6a6193d529","block_type":"box","text":"otherwise stated.","page_number":18,"box":{"x":521,"y":832,"width":115,"height":8}},{"id":"59564bcc-5098-405c-afce-79bad3807df2","block_type":"box","text":"Royal London GMAP Defensive Fund | Royal London Multi-Asset Funds ICVC","page_number":18,"box":{"x":500,"y":33,"width":413,"height":8}},{"id":"3f17ac94-9ee0-4785-aaaa-9e4d9e3398db","block_type":"box","text":"18","page_number":18,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"8f4eef04-c637-4b05-90c4-77d51f8be77b","block_type":"box","text":"Class M Accumulation","page_number":19,"box":{"x":57,"y":151,"width":206,"height":9}},{"id":"f5a199a2-7f88-410a-899a-ef4256bdc1c0","block_type":"box","text":"Change in net assets","page_number":19,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"b72627ac-221f-4eb6-9821-b4583221481d","block_type":"box","text":"30/06/26","page_number":19,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"480f2b12-028a-4c50-9c4a-9e4422892f62","block_type":"box","text":"31/12/25","page_number":19,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"61a5e2a3-5a62-4cf7-95da-31ed4004f2af","block_type":"box","text":"31/12/24","page_number":19,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"a65824a6-c034-4031-ba62-7388e216bd8c","block_type":"box","text":"31/12/23","page_number":19,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"3232cbfd-42d3-4223-afe0-6dec739f327c","block_type":"box","text":"per share","page_number":19,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"12a5ef2a-1888-49c2-b3e6-35f6fc2f135f","block_type":"box","text":"(p)","page_number":19,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"3da11ff7-4cd4-49b1-982f-40fd08eb933c","block_type":"box","text":"(p)","page_number":19,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"8a3ea1fe-74b5-47b4-bda4-a1a1605d1462","block_type":"box","text":"(p)","page_number":19,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"179c448d-74e7-435e-b412-bac1bee7db1a","block_type":"box","text":"(p)","page_number":19,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"ce456c07-df1a-4dc0-ac74-91fddfef691e","block_type":"box","text":"Opening net asset","page_number":19,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"565d67dd-51f4-4080-b680-6781d0f52d63","block_type":"box","text":"value per share","page_number":19,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"9e744b72-c363-4053-a307-a43322700d10","block_type":"box","text":"135.33","page_number":19,"box":{"x":224,"y":205,"width":34,"height":6}},{"id":"c890d4b3-240c-4777-b9ac-da4695596a10","block_type":"box","text":"127.06","page_number":19,"box":{"x":296,"y":205,"width":34,"height":6}},{"id":"408f0be1-bb69-4bcd-b359-84ef9fb93033","block_type":"box","text":"122.38","page_number":19,"box":{"x":366,"y":205,"width":35,"height":6}},{"id":"d97e702a-61c6-48e4-b078-a268bca692da","block_type":"box","text":"115.71","page_number":19,"box":{"x":440,"y":205,"width":31,"height":6}},{"id":"6a0052e8-5f6f-4fd5-afe9-0a0813d8dfb4","block_type":"box","text":"Return before operating","page_number":19,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"76c879e5-739b-4a2b-9a51-966e6785359f","block_type":"box","text":"charges*","page_number":19,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"a44053b8-9369-41e9-b4f3-cbada178aa69","block_type":"box","text":"5.79","page_number":19,"box":{"x":236,"y":232,"width":23,"height":6}},{"id":"6dc18e75-c676-4029-961e-fe49a70e6673","block_type":"box","text":"9.05","page_number":19,"box":{"x":308,"y":232,"width":22,"height":6}},{"id":"f5fdbdf6-59f2-4c9d-873b-5cede0616892","block_type":"box","text":"5.43","page_number":19,"box":{"x":379,"y":232,"width":22,"height":6}},{"id":"f1d0e915-7dfc-4df5-a324-8301973a5cf0","block_type":"box","text":"7.38","page_number":19,"box":{"x":451,"y":232,"width":22,"height":6}},{"id":"db5279eb-c1f9-4046-8831-adbc833d9b87","block_type":"box","text":"Operating charges","page_number":19,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"ac1a6221-c234-446e-9d30-66e560d7e9eb","block_type":"box","text":"(0.41)","page_number":19,"box":{"x":234,"y":259,"width":29,"height":8}},{"id":"a448d227-65fc-4c35-b93b-8b85d9e8c312","block_type":"box","text":"(0.78)","page_number":19,"box":{"x":305,"y":259,"width":29,"height":8}},{"id":"295b10db-98fd-4182-8ac9-af4569d41599","block_type":"box","text":"(0.75)","page_number":19,"box":{"x":376,"y":259,"width":29,"height":8}},{"id":"20ff4780-41cc-43c8-9642-eb729bbdf1fb","block_type":"box","text":"(0.71)","page_number":19,"box":{"x":448,"y":259,"width":29,"height":8}},{"id":"06fa577b-902e-4824-a127-c2b0729a303d","block_type":"box","text":"Return after operating","page_number":19,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"151ef70b-fc28-40d7-ae92-292df831df63","block_type":"box","text":"charges*","page_number":19,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"f4a66c83-7b09-48ae-9a10-cb82ea2d4518","block_type":"box","text":"5.38","page_number":19,"box":{"x":236,"y":276,"width":23,"height":6}},{"id":"0aa01414-2e24-425b-b7d8-f2776503d879","block_type":"box","text":"8.27","page_number":19,"box":{"x":307,"y":276,"width":23,"height":6}},{"id":"edb9f917-5cbb-417b-95b7-71aaf9699542","block_type":"box","text":"4.68","page_number":19,"box":{"x":379,"y":276,"width":22,"height":6}},{"id":"eec7837c-37ea-4273-ad2f-db9cc34dd860","block_type":"box","text":"6.67","page_number":19,"box":{"x":450,"y":276,"width":23,"height":6}},{"id":"ad34c552-f513-4799-a021-1a7291a221e2","block_type":"box","text":"Distributions on","page_number":19,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"fac8f02a-877b-4773-a19e-2675ae079a07","block_type":"box","text":"accumulation shares","page_number":19,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"69c823cc-0e0c-44f1-b2a5-5b73e4543458","block_type":"box","text":"(1.23)","page_number":19,"box":{"x":233,"y":303,"width":30,"height":8}},{"id":"e562807e-2dc8-4c04-9cf4-2fad0cf8b57e","block_type":"box","text":"(3.27)","page_number":19,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"ed59f5eb-7fe9-47c6-a304-f6ddba9841b0","block_type":"box","text":"(3.42)","page_number":19,"box":{"x":376,"y":303,"width":29,"height":8}},{"id":"689e020d-c364-4625-8993-870cfb8d4673","block_type":"box","text":"(2.94)","page_number":19,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"ca0f6e66-88c0-43a3-9e18-f483519b8efe","block_type":"box","text":"Retained distributions","page_number":19,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"75dfe544-8ed9-4394-8912-6200a6a3077d","block_type":"box","text":"on accumulation shares","page_number":19,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"6cd42bdb-44d7-44ea-9dc2-73187240cd65","block_type":"box","text":"1.23","page_number":19,"box":{"x":237,"y":330,"width":21,"height":6}},{"id":"c64f7804-df8f-41fc-afd3-8a0b81b9c3de","block_type":"box","text":"3.27","page_number":19,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"c3c59049-8490-4e9e-868d-b012f454daf1","block_type":"box","text":"3.42","page_number":19,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"037a6d57-0c9c-4430-8d19-6d06107a2b97","block_type":"box","text":"2.94","page_number":19,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"d6e9bc59-bfdb-41a0-b313-d46131d9be7a","block_type":"box","text":"Closing net asset","page_number":19,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"95a7331c-2cbe-4250-be07-3ec215102b32","block_type":"box","text":"value per share","page_number":19,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"45cd02d8-6637-49ca-ad4f-e2e7084fb5ce","block_type":"box","text":"140.71","page_number":19,"box":{"x":224,"y":357,"width":33,"height":6}},{"id":"4e46803f-cc09-45e9-bef1-0ef1ea085160","block_type":"box","text":"135.33","page_number":19,"box":{"x":295,"y":357,"width":35,"height":6}},{"id":"82770b1d-53d3-4648-a733-3730a3e96740","block_type":"box","text":"127.06","page_number":19,"box":{"x":367,"y":357,"width":34,"height":6}},{"id":"e48608e5-8901-4f75-a4c6-f85c48a09311","block_type":"box","text":"122.38","page_number":19,"box":{"x":437,"y":357,"width":36,"height":6}},{"id":"7fef1097-e597-4bfb-9267-a3af491ebb86","block_type":"box","text":"* after direct transaction","page_number":19,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"7b623c74-7c2b-42ce-b6a4-f9008dae7168","block_type":"box","text":"costs of:","page_number":19,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"57aa86f3-ce1e-4884-8e7c-1a2064099162","block_type":"box","text":"0.02","page_number":19,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"8bb3a524-8e06-40b8-9ef6-5b58efff0a41","block_type":"box","text":"0.03","page_number":19,"box":{"x":308,"y":385,"width":22,"height":6}},{"id":"bd4431b1-bc95-4536-8f71-f74243ef1a35","block_type":"box","text":"0.03","page_number":19,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"122bf976-66a4-471c-bb30-e78d6881cd27","block_type":"box","text":"0.02","page_number":19,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"3c38dc57-e606-49ec-beab-d174e74e8092","block_type":"box","text":"Performance","page_number":19,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"71ecb3f9-6bbe-4014-8d01-0a4b75c61e1f","block_type":"box","text":"Return after charges","page_number":19,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"5079cea9-6b2f-41e3-a3c7-fc1f62093549","block_type":"box","text":"3.98%","page_number":19,"box":{"x":225,"y":419,"width":33,"height":7}},{"id":"098640c0-fc68-471d-9260-db8125f9f25e","block_type":"box","text":"6.51%","page_number":19,"box":{"x":298,"y":419,"width":32,"height":7}},{"id":"b7a325fd-7c6b-46a1-a43b-8cb56cf6f559","block_type":"box","text":"3.82%","page_number":19,"box":{"x":368,"y":419,"width":33,"height":7}},{"id":"5a9a0fb4-43e7-41de-be33-ca83685323f1","block_type":"box","text":"5.76%","page_number":19,"box":{"x":440,"y":419,"width":33,"height":7}},{"id":"95f3130a-9b7b-404c-a915-30e4074a3c87","block_type":"box","text":"Other information","page_number":19,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"fbc112f0-85a1-4fc0-b314-120a56ed71f0","block_type":"box","text":"Closing net asset value","page_number":19,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"d2128311-7eef-4cef-b85a-2845e9cf048d","block_type":"box","text":"(£’000)","page_number":19,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"92daee8a-bd2b-421c-8cc3-e923a6dfbddd","block_type":"box","text":"43,640","page_number":19,"box":{"x":222,"y":447,"width":36,"height":7}},{"id":"88c21235-c6f8-4d78-9de9-ce7a537f0e0d","block_type":"box","text":"43,656","page_number":19,"box":{"x":293,"y":447,"width":37,"height":7}},{"id":"9fdb0230-0bcc-4d1f-a203-0dcfe3d69283","block_type":"box","text":"47,014","page_number":19,"box":{"x":368,"y":447,"width":33,"height":7}},{"id":"c431a554-4e91-462e-ac87-71dbdce09b3f","block_type":"box","text":"39,892","page_number":19,"box":{"x":437,"y":447,"width":36,"height":7}},{"id":"1c241e60-dded-497f-b0c2-c843029c53b1","block_type":"box","text":"Closing number of","page_number":19,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"c635e022-4566-4d4a-8eac-e2e5929fea76","block_type":"box","text":"shares","page_number":19,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"28470359-176b-4637-9bcb-72ca3dbddeaa","block_type":"box","text":"31,015,868","page_number":19,"box":{"x":204,"y":466,"width":55,"height":7}},{"id":"176fe416-36e0-4075-bbeb-444898daba51","block_type":"box","text":"32,258,032","page_number":19,"box":{"x":274,"y":466,"width":56,"height":7}},{"id":"0be48784-52df-4eef-8e7f-184d3dda5f9e","block_type":"box","text":"37,001,238","page_number":19,"box":{"x":347,"y":466,"width":54,"height":7}},{"id":"702b05b0-92a8-4f0c-98ed-384a75f66191","block_type":"box","text":"32,597,723","page_number":19,"box":{"x":419,"y":466,"width":54,"height":7}},{"id":"0f147d5a-15ec-4a65-9e05-f3da9beb3ee4","block_type":"box","text":"Operating charges","page_number":19,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"b3c89691-f1ef-4615-b722-ad333564ab82","block_type":"box","text":"0.60%","page_number":19,"box":{"x":225,"y":485,"width":33,"height":6}},{"id":"a3847fb2-6f85-4877-9857-a57382e0cdf0","block_type":"box","text":"0.60%","page_number":19,"box":{"x":297,"y":485,"width":33,"height":6}},{"id":"32c2aed3-ff4c-4e53-8765-5e65c64adce8","block_type":"box","text":"0.60%","page_number":19,"box":{"x":368,"y":485,"width":33,"height":6}},{"id":"c1153407-016e-4e2f-83b8-ec17f5e4a9c3","block_type":"box","text":"0.60%","page_number":19,"box":{"x":440,"y":485,"width":33,"height":6}},{"id":"5c9c57d7-f253-41a0-bcd2-723f7f8040c2","block_type":"box","text":"Direct transaction costs","page_number":19,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"89fc68aa-3862-4acc-86e1-60a6ca058ebf","block_type":"box","text":"0.01%","page_number":19,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"1a4a580c-67e3-4ea9-a136-1620927897aa","block_type":"box","text":"0.02%","page_number":19,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"ce31039e-dda5-4e2d-8e30-823b400e9acc","block_type":"box","text":"0.03%","page_number":19,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"a488e463-74f0-469d-a06a-8cc9bb0ed5b8","block_type":"box","text":"0.02%","page_number":19,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"70872218-cc86-45f3-9cbf-a6454186e68d","block_type":"box","text":"Prices","page_number":19,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"08a65564-a81e-4c33-a313-9d3d9a38fb26","block_type":"box","text":"^","page_number":19,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"8fb836f3-e4ef-4381-a359-69a7e809d8e8","block_type":"box","text":"Highest share price","page_number":19,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"881e3df7-7f9c-46f6-85f6-4a86dcc228b1","block_type":"box","text":"141.10","page_number":19,"box":{"x":227,"y":522,"width":31,"height":6}},{"id":"7700436c-9c9e-4a2e-9e44-d15b4ab698af","block_type":"box","text":"135.90","page_number":19,"box":{"x":295,"y":522,"width":35,"height":6}},{"id":"b60ae597-2038-4e7b-be28-733a1dc68684","block_type":"box","text":"128.40","page_number":19,"box":{"x":367,"y":522,"width":34,"height":6}},{"id":"e4b22e30-b4ae-465c-af11-a64ed5303122","block_type":"box","text":"122.90","page_number":19,"box":{"x":438,"y":522,"width":35,"height":6}},{"id":"45358c91-0657-471e-8c6e-2140939ddfe0","block_type":"box","text":"Lowest share price","page_number":19,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"86a4068b-7f3a-4b49-99b7-fe4c6f352b14","block_type":"box","text":"135.80","page_number":19,"box":{"x":224,"y":532,"width":34,"height":6}},{"id":"3d965e7d-fba6-429e-8d9d-7a58cc9d71cb","block_type":"box","text":"125.10","page_number":19,"box":{"x":297,"y":532,"width":33,"height":6}},{"id":"7e592c04-bbb2-44b6-8815-9aeb464dfeaa","block_type":"box","text":"121.00","page_number":19,"box":{"x":367,"y":532,"width":34,"height":6}},{"id":"45a16f8b-27a9-4f19-b998-a9611cd9addc","block_type":"box","text":"115.30","page_number":19,"box":{"x":439,"y":532,"width":34,"height":6}},{"id":"a15d0cd2-8346-4ffc-afd3-38ce6ef98247","block_type":"box","text":"Class M Income","page_number":19,"box":{"x":57,"y":560,"width":146,"height":9}},{"id":"2fdc3740-dfe9-416b-bc2c-27d3c0e86f42","block_type":"box","text":"Change in net assets","page_number":19,"box":{"x":57,"y":586,"width":120,"height":8}},{"id":"9354a085-a9a1-47c1-b915-56b5dff2a280","block_type":"box","text":"30/06/26","page_number":19,"box":{"x":212,"y":586,"width":47,"height":6}},{"id":"8318ca9e-b8bb-4f25-aaf2-4851eb10d4bf","block_type":"box","text":"31/12/25","page_number":19,"box":{"x":285,"y":586,"width":45,"height":6}},{"id":"d6c05be2-eebc-473b-84a5-d3cad73002f1","block_type":"box","text":"31/12/24","page_number":19,"box":{"x":356,"y":586,"width":46,"height":6}},{"id":"d6b90a16-7fa4-4ef2-8766-6dbffc08f845","block_type":"box","text":"31/12/23","page_number":19,"box":{"x":428,"y":586,"width":45,"height":6}},{"id":"f518d43a-ddbe-48bb-be8b-7269604809a9","block_type":"box","text":"per share","page_number":19,"box":{"x":57,"y":595,"width":54,"height":8}},{"id":"fca3e935-677c-4603-844e-5efe6945d775","block_type":"box","text":"(p)","page_number":19,"box":{"x":245,"y":595,"width":13,"height":8}},{"id":"cd4dae6d-69f5-4041-8af3-5c8a01b77ad3","block_type":"box","text":"(p)","page_number":19,"box":{"x":316,"y":595,"width":14,"height":8}},{"id":"fb56cc6d-9277-472b-9b37-283af64544fd","block_type":"box","text":"(p)","page_number":19,"box":{"x":387,"y":595,"width":14,"height":8}},{"id":"bb111d8a-3dd0-49c0-906e-edc2c315807b","block_type":"box","text":"(p)","page_number":19,"box":{"x":459,"y":595,"width":14,"height":8}},{"id":"5378a3e6-33ee-4cbc-b688-73d40758e603","block_type":"box","text":"Opening net asset","page_number":19,"box":{"x":57,"y":614,"width":97,"height":8}},{"id":"a3d3a1fc-95f7-43ef-a44c-c42ffb2950dd","block_type":"box","text":"value per share","page_number":19,"box":{"x":57,"y":624,"width":82,"height":7}},{"id":"0e60c930-c1b1-4fc9-b0e2-5579cdb98562","block_type":"box","text":"114.85","page_number":19,"box":{"x":225,"y":614,"width":34,"height":6}},{"id":"0705ba77-eee4-4d84-bc87-81ad30bfb361","block_type":"box","text":"110.50","page_number":19,"box":{"x":296,"y":614,"width":34,"height":6}},{"id":"fe6b37d1-09af-4d45-a6d2-5416ccdaa6f6","block_type":"box","text":"109.36","page_number":19,"box":{"x":366,"y":614,"width":35,"height":6}},{"id":"1943fdf5-d042-499e-bccb-7fd3a9e6f871","block_type":"box","text":"105.92","page_number":19,"box":{"x":438,"y":614,"width":35,"height":6}},{"id":"0c8a5854-a6f4-4a57-bbf2-0af064bec234","block_type":"box","text":"Return before operating","page_number":19,"box":{"x":58,"y":641,"width":125,"height":8}},{"id":"a318d1ce-e9fd-419c-ba89-745126eaae74","block_type":"box","text":"charges*","page_number":19,"box":{"x":57,"y":650,"width":47,"height":8}},{"id":"40af82fc-e9e8-4552-af73-91a69beeb24e","block_type":"box","text":"4.93","page_number":19,"box":{"x":236,"y":641,"width":22,"height":6}},{"id":"0c523460-6210-4d1b-93c3-5ab2661f6115","block_type":"box","text":"7.85","page_number":19,"box":{"x":308,"y":641,"width":22,"height":6}},{"id":"ca05aede-606e-4b78-8d47-2266baee6a23","block_type":"box","text":"4.83","page_number":19,"box":{"x":378,"y":641,"width":23,"height":6}},{"id":"236d2e03-371a-4f0d-bb3a-ccf54507cbed","block_type":"box","text":"6.51","page_number":19,"box":{"x":451,"y":641,"width":20,"height":6}},{"id":"8b804d75-4f96-4f3f-abbb-e4acd2c0ed94","block_type":"box","text":"Operating charges","page_number":19,"box":{"x":57,"y":668,"width":99,"height":8}},{"id":"1fd60960-11cc-4ce7-b416-8cdaaa1b56c5","block_type":"box","text":"(0.35)","page_number":19,"box":{"x":232,"y":668,"width":31,"height":8}},{"id":"39fe6541-8926-4052-95ee-39f02b55e0d0","block_type":"box","text":"(0.68)","page_number":19,"box":{"x":304,"y":668,"width":30,"height":8}},{"id":"76d70b63-6f2a-44c5-80c4-f52bb79d7b2c","block_type":"box","text":"(0.67)","page_number":19,"box":{"x":375,"y":668,"width":30,"height":8}},{"id":"2f0f8a9f-b05c-4cfc-885c-a5534832e06a","block_type":"box","text":"(0.65)","page_number":19,"box":{"x":447,"y":668,"width":30,"height":8}},{"id":"d13c65c7-440f-4976-9bdc-6c80ecf98703","block_type":"box","text":"Return after operating","page_number":19,"box":{"x":58,"y":685,"width":116,"height":8}},{"id":"e9585393-7425-4401-8896-f722701c9c98","block_type":"box","text":"charges*","page_number":19,"box":{"x":57,"y":695,"width":47,"height":8}},{"id":"9bd34dc7-02fc-4541-b70c-410157e02b96","block_type":"box","text":"4.58","page_number":19,"box":{"x":236,"y":686,"width":23,"height":6}},{"id":"153b2f0f-b11a-4daf-af6e-9a62a9c62e8c","block_type":"box","text":"7.17","page_number":19,"box":{"x":310,"y":686,"width":20,"height":5}},{"id":"f39aba04-01f3-4669-93cf-1f91d80a0ecd","block_type":"box","text":"4.16","page_number":19,"box":{"x":380,"y":686,"width":21,"height":6}},{"id":"08d81ec4-05e3-45eb-8bdd-13a589a0a9e9","block_type":"box","text":"5.86","page_number":19,"box":{"x":450,"y":686,"width":23,"height":6}},{"id":"7d7b017e-7506-4adc-9bcd-5682c72bf668","block_type":"box","text":"Distributions on income","page_number":19,"box":{"x":58,"y":713,"width":124,"height":6}},{"id":"ba034fa6-2e8d-4f95-a79b-1986371c9594","block_type":"box","text":"shares","page_number":19,"box":{"x":57,"y":722,"width":35,"height":6}},{"id":"63e28659-ee53-4b75-a827-30a08f189784","block_type":"box","text":"(1.05)","page_number":19,"box":{"x":233,"y":712,"width":30,"height":8}},{"id":"64afd470-a68f-4d7a-a616-00f803a725fd","block_type":"box","text":"(2.82)","page_number":19,"box":{"x":304,"y":712,"width":30,"height":8}},{"id":"a3c9fc5e-a588-4619-b8f7-9b14d9c96e7d","block_type":"box","text":"(3.02)","page_number":19,"box":{"x":376,"y":712,"width":29,"height":8}},{"id":"80cdffcf-b51f-4c07-ba3c-42deec244e42","block_type":"box","text":"(2.42)","page_number":19,"box":{"x":447,"y":712,"width":30,"height":8}},{"id":"3f6eb248-59f2-464a-abc1-53c75a10401a","block_type":"box","text":"Closing net asset","page_number":19,"box":{"x":57,"y":739,"width":100,"height":8}},{"id":"40d3f4dc-57e9-437a-9c33-45c1b7d2ef42","block_type":"box","text":"value per share","page_number":19,"box":{"x":57,"y":749,"width":88,"height":8}},{"id":"b1430355-45b6-4f78-9be9-5dd8ee17be84","block_type":"box","text":"118.38","page_number":19,"box":{"x":224,"y":740,"width":34,"height":6}},{"id":"5dca3ccf-27ae-4569-872a-6fba47f94dca","block_type":"box","text":"114.85","page_number":19,"box":{"x":295,"y":740,"width":35,"height":6}},{"id":"ce9daa43-f1ce-4e70-8610-e4ab19777aa3","block_type":"box","text":"110.50","page_number":19,"box":{"x":367,"y":740,"width":34,"height":6}},{"id":"5291cb54-355f-4fd9-89f0-a3765c8d0a98","block_type":"box","text":"109.36","page_number":19,"box":{"x":437,"y":740,"width":36,"height":6}},{"id":"6d9ce10f-bd44-42c7-b461-9e904fab0083","block_type":"box","text":"* after direct transaction","page_number":19,"box":{"x":57,"y":767,"width":127,"height":6}},{"id":"44228029-c241-4a74-bc54-663be2835dfa","block_type":"box","text":"costs of:","page_number":19,"box":{"x":57,"y":777,"width":44,"height":6}},{"id":"bdcdcc58-aed6-4805-a0aa-8f70fe8194f5","block_type":"box","text":"0.01","page_number":19,"box":{"x":236,"y":767,"width":21,"height":6}},{"id":"7e3ace29-b95b-4c8f-acbc-5e9d60daba47","block_type":"box","text":"0.03","page_number":19,"box":{"x":308,"y":767,"width":22,"height":6}},{"id":"1bcd785f-8832-47c0-b9d5-b75757b61e0d","block_type":"box","text":"0.03","page_number":19,"box":{"x":379,"y":767,"width":22,"height":6}},{"id":"3d2b188a-5ad9-4836-93e2-d7f5e4028639","block_type":"box","text":"0.02","page_number":19,"box":{"x":450,"y":767,"width":23,"height":6}},{"id":"3891dfd8-b58b-40d3-bbaf-88189dc679eb","block_type":"box","text":"Performance","page_number":19,"box":{"x":58,"y":792,"width":73,"height":6}},{"id":"92d0f585-8289-434e-89d8-3fad8fd7db32","block_type":"box","text":"Return after charges","page_number":19,"box":{"x":58,"y":801,"width":108,"height":8}},{"id":"3a5124cf-8aea-4155-851f-0039829e7f64","block_type":"box","text":"3.99%","page_number":19,"box":{"x":225,"y":801,"width":33,"height":7}},{"id":"ecd91d68-4ede-4479-b811-718b145b651e","block_type":"box","text":"6.49%","page_number":19,"box":{"x":297,"y":801,"width":33,"height":7}},{"id":"a6d5059d-e2ce-4ccb-b2bb-1400089e16a1","block_type":"box","text":"3.80%","page_number":19,"box":{"x":368,"y":801,"width":33,"height":7}},{"id":"ad02e1ab-51cb-4051-a07a-83e5645fc456","block_type":"box","text":"5.53%","page_number":19,"box":{"x":440,"y":801,"width":33,"height":7}},{"id":"d3d69d6b-ad54-4fc6-bc09-49a697510960","block_type":"box","text":"Other information","page_number":19,"box":{"x":57,"y":819,"width":102,"height":7}},{"id":"469c7800-b5f5-4082-85ba-4f0b93b44fe3","block_type":"box","text":"Closing net asset value","page_number":19,"box":{"x":57,"y":829,"width":123,"height":8}},{"id":"1aba4882-51b8-4e94-8b9f-e981128d60af","block_type":"box","text":"(£’000)","page_number":19,"box":{"x":57,"y":838,"width":37,"height":8}},{"id":"a14cd301-6de7-4ebd-b377-9efca2a270d0","block_type":"box","text":"5,321","page_number":19,"box":{"x":230,"y":829,"width":27,"height":7}},{"id":"c0682a3c-267e-479b-a184-890833abb6ee","block_type":"box","text":"4,902","page_number":19,"box":{"x":300,"y":829,"width":30,"height":7}},{"id":"9b42f063-c539-4b59-bddd-fa4eb7ecd372","block_type":"box","text":"6,005","page_number":19,"box":{"x":372,"y":829,"width":29,"height":7}},{"id":"75d3e983-8f2e-4e8f-9f08-bd009a519cca","block_type":"box","text":"5,433","page_number":19,"box":{"x":443,"y":829,"width":30,"height":7}},{"id":"ee076411-f592-45e0-ba0b-fbd6ef684f3b","block_type":"box","text":"Closing number of","page_number":19,"box":{"x":57,"y":848,"width":98,"height":8}},{"id":"2ead567b-7024-4bbf-b915-3a9aff9eb74d","block_type":"box","text":"shares","page_number":19,"box":{"x":57,"y":857,"width":35,"height":6}},{"id":"c331f9d7-4a24-4c8f-8476-ed7ed26070b5","block_type":"box","text":"4,494,694","page_number":19,"box":{"x":208,"y":848,"width":50,"height":7}},{"id":"40171bff-7a1c-48b1-8056-06972581a57d","block_type":"box","text":"4,268,097","page_number":19,"box":{"x":280,"y":848,"width":50,"height":7}},{"id":"2d39440b-df1f-4eab-8d46-a9f85323e560","block_type":"box","text":"5,435,000","page_number":19,"box":{"x":351,"y":848,"width":50,"height":7}},{"id":"96772f99-609f-4ee3-b22e-a337942d019e","block_type":"box","text":"4,967,494","page_number":19,"box":{"x":424,"y":848,"width":49,"height":7}},{"id":"c00c273f-a8b3-4739-bc11-3e0af9fd19ca","block_type":"box","text":"Operating charges","page_number":19,"box":{"x":57,"y":867,"width":99,"height":8}},{"id":"daf3a8f5-43af-4cfe-9c51-1296f12b2bc9","block_type":"box","text":"0.60%","page_number":19,"box":{"x":225,"y":867,"width":33,"height":6}},{"id":"f84bf7f0-88f2-41e0-bdca-7dab3ef15023","block_type":"box","text":"0.60%","page_number":19,"box":{"x":297,"y":867,"width":33,"height":6}},{"id":"422d6574-d73b-425c-9877-ecd6242462e3","block_type":"box","text":"0.60%","page_number":19,"box":{"x":368,"y":867,"width":33,"height":6}},{"id":"a302a22e-4c7d-4e0e-aefb-391d7a8f27ff","block_type":"box","text":"0.60%","page_number":19,"box":{"x":440,"y":867,"width":33,"height":6}},{"id":"7e5880d0-a39b-4aba-bd5f-1ee8e49077da","block_type":"box","text":"Direct transaction costs","page_number":19,"box":{"x":58,"y":877,"width":125,"height":6}},{"id":"a757863e-b403-4e1e-bbce-e53f2793e0f1","block_type":"box","text":"0.01%","page_number":19,"box":{"x":227,"y":877,"width":31,"height":6}},{"id":"c2f08ad8-8b55-4eb0-acf2-86cdc65baa00","block_type":"box","text":"0.02%","page_number":19,"box":{"x":297,"y":877,"width":33,"height":6}},{"id":"e9b5f9a9-19b8-4541-a5e6-c83192c4940d","block_type":"box","text":"0.03%","page_number":19,"box":{"x":369,"y":877,"width":32,"height":6}},{"id":"17b282da-a204-4f8f-bedd-f4105cbf6f59","block_type":"box","text":"0.02%","page_number":19,"box":{"x":440,"y":877,"width":33,"height":6}},{"id":"6b2a2073-537e-4a95-9d37-42e67724f98c","block_type":"box","text":"Prices","page_number":19,"box":{"x":58,"y":895,"width":35,"height":6}},{"id":"5185fe22-3372-4f9d-985a-2f8c233af3cb","block_type":"box","text":"^","page_number":19,"box":{"x":94,"y":895,"width":3,"height":2}},{"id":"608275e1-fdd4-4d28-9842-f2df737d42fb","block_type":"box","text":"Highest share price","page_number":19,"box":{"x":58,"y":904,"width":102,"height":8}},{"id":"596c7dae-b1ea-4049-abdf-d481f1c00a95","block_type":"box","text":"119.80","page_number":19,"box":{"x":225,"y":904,"width":33,"height":6}},{"id":"dcc81fc6-06f6-4268-b028-93fa6e250ae5","block_type":"box","text":"117.10","page_number":19,"box":{"x":299,"y":904,"width":31,"height":6}},{"id":"3da0fc69-762c-4cd3-8118-ad09f11b6252","block_type":"box","text":"113.60","page_number":19,"box":{"x":368,"y":904,"width":33,"height":6}},{"id":"77ff9971-d3b2-4b5b-ac3c-6b78c484fc4b","block_type":"box","text":"111.90","page_number":19,"box":{"x":440,"y":904,"width":33,"height":6}},{"id":"047d1116-c721-4975-8300-508ada0feb58","block_type":"box","text":"Lowest share price","page_number":19,"box":{"x":58,"y":914,"width":99,"height":8}},{"id":"eb0a19e2-0936-486f-b6d1-8696007ab6d1","block_type":"box","text":"115.30","page_number":19,"box":{"x":225,"y":914,"width":33,"height":6}},{"id":"dd565886-6631-4835-a962-2bc316fbd3c2","block_type":"box","text":"108.80","page_number":19,"box":{"x":295,"y":914,"width":35,"height":6}},{"id":"13e6596a-1806-4089-b0bb-5b2a26999c14","block_type":"box","text":"108.20","page_number":19,"box":{"x":366,"y":914,"width":35,"height":6}},{"id":"a30afda6-ce6f-41ee-8241-d10c1aebbe56","block_type":"box","text":"104.90","page_number":19,"box":{"x":438,"y":914,"width":35,"height":6}},{"id":"6da7a325-fb73-4d61-8404-89c88245a002","block_type":"box","text":"Class P Accumulation","page_number":19,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"2674102b-b70f-47ea-887c-88fc537fd303","block_type":"box","text":"Change in net assets","page_number":19,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"4c1a9f05-e110-427c-85d0-2a7071111459","block_type":"box","text":"30/06/26","page_number":19,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"2ed1e556-7713-4abb-b05d-5929ceff0ed9","block_type":"box","text":"31/12/25","page_number":19,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"35348deb-d81e-4443-be52-34bb88a9c02f","block_type":"box","text":"31/12/24","page_number":19,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"c66aa8b2-931d-448b-b11c-4a00e41a3efe","block_type":"box","text":"31/12/23","page_number":19,"box":{"x":892,"y":177,"width":45,"height":6}},{"id":"1e009b93-bce6-4301-95d7-f8fa40ba072e","block_type":"box","text":"per share","page_number":19,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"2bcfc484-4f40-47bf-bfa6-01faaa861a2a","block_type":"box","text":"(p)","page_number":19,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"d78b8f31-b19f-4f41-822f-ff73b6b07051","block_type":"box","text":"(p)","page_number":19,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"e1d71cfd-2f6b-479d-9b8c-67fe34692a39","block_type":"box","text":"(p)","page_number":19,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"9dc891d6-ac1d-453f-a502-ecb6255e7ba3","block_type":"box","text":"(p)","page_number":19,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"daa7b50e-69e1-4936-831d-7a6702cb1db4","block_type":"box","text":"Opening net asset","page_number":19,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"b1ef7d8c-511d-4319-88c8-30f093e1e3fe","block_type":"box","text":"value per share","page_number":19,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"f73f15b2-3b7e-4c41-95ca-eb2510b5bfc7","block_type":"box","text":"121.45","page_number":19,"box":{"x":689,"y":205,"width":34,"height":6}},{"id":"4d1cde4c-e574-453c-99eb-197224dfda95","block_type":"box","text":"113.98","page_number":19,"box":{"x":760,"y":205,"width":34,"height":6}},{"id":"d5124f7e-e9f8-4587-897f-2873faea6932","block_type":"box","text":"109.74","page_number":19,"box":{"x":832,"y":205,"width":34,"height":6}},{"id":"dd70dafd-7420-4409-b455-45c8f716fba6","block_type":"box","text":"103.70","page_number":19,"box":{"x":903,"y":205,"width":34,"height":6}},{"id":"396197fa-9dfc-4309-a436-80fd440eb69e","block_type":"box","text":"Return before operating","page_number":19,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"ae3b7208-0589-4079-b700-3d9730d665ae","block_type":"box","text":"charges*","page_number":19,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"12b034b8-c29e-461b-a97e-7489e2528c8d","block_type":"box","text":"5.19","page_number":19,"box":{"x":702,"y":232,"width":21,"height":6}},{"id":"272090bf-23bb-4995-8785-94f5a05f51a5","block_type":"box","text":"8.11","page_number":19,"box":{"x":774,"y":232,"width":19,"height":6}},{"id":"d92a99ad-89ce-4d97-8e31-ffbc944aebc4","block_type":"box","text":"4.85","page_number":19,"box":{"x":843,"y":232,"width":23,"height":6}},{"id":"2e51cb56-1da5-44fa-bdd5-fb2f8212756a","block_type":"box","text":"6.62","page_number":19,"box":{"x":915,"y":232,"width":22,"height":6}},{"id":"cbaa0371-6b69-4988-8226-9fd7b7358e70","block_type":"box","text":"Operating charges","page_number":19,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"a583c59b-579f-4608-90e8-4f80c8660fac","block_type":"box","text":"(0.34)","page_number":19,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"7de4c846-f324-4b21-991e-cb93c586dc0c","block_type":"box","text":"(0.64)","page_number":19,"box":{"x":768,"y":259,"width":30,"height":8}},{"id":"02aff8df-0e66-4293-9108-7d773b9adf2e","block_type":"box","text":"(0.61)","page_number":19,"box":{"x":840,"y":259,"width":30,"height":8}},{"id":"1bfcfcd8-bef9-4982-8089-da7b91fa6234","block_type":"box","text":"(0.58)","page_number":19,"box":{"x":911,"y":259,"width":30,"height":8}},{"id":"5d90161c-cd54-47ed-b03d-41cf90ad669d","block_type":"box","text":"Return after operating","page_number":19,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"cc67730f-79a0-483b-86b9-3f8dbdc52ad0","block_type":"box","text":"charges*","page_number":19,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"0de40f67-0ff1-41b7-bc7e-d16cd782dc8e","block_type":"box","text":"4.85","page_number":19,"box":{"x":700,"y":276,"width":23,"height":6}},{"id":"aaeb975c-8f24-4b64-a0cf-0f4aff4f2b26","block_type":"box","text":"7.47","page_number":19,"box":{"x":773,"y":276,"width":21,"height":6}},{"id":"100fb1d2-470b-415e-8912-1630d8a9df4f","block_type":"box","text":"4.24","page_number":19,"box":{"x":843,"y":276,"width":23,"height":6}},{"id":"d0aa8244-beef-4a05-b9fb-3d637908bbd0","block_type":"box","text":"6.04","page_number":19,"box":{"x":914,"y":276,"width":23,"height":6}},{"id":"c5d6aafd-558a-4a93-ba78-2455d1d8936c","block_type":"box","text":"Distributions on","page_number":19,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"84e0df99-a4aa-43a7-b0fc-28156bd8a57c","block_type":"box","text":"accumulation shares","page_number":19,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"3fb2cbc7-d459-4187-9747-20c1df5c426b","block_type":"box","text":"(1.13)","page_number":19,"box":{"x":699,"y":303,"width":28,"height":8}},{"id":"3621ffb3-8c0f-454f-b412-9231d71f15ed","block_type":"box","text":"(2.98)","page_number":19,"box":{"x":768,"y":303,"width":30,"height":8}},{"id":"b1364caf-2a26-46ff-b0c9-36b73a66d650","block_type":"box","text":"0.00","page_number":19,"box":{"x":843,"y":303,"width":23,"height":6}},{"id":"5d958f86-250b-4bf9-8d07-61e451f98ee5","block_type":"box","text":"(2.61)","page_number":19,"box":{"x":912,"y":303,"width":29,"height":8}},{"id":"54a33d96-727a-428f-9a72-9128ed64e149","block_type":"box","text":"Retained distributions","page_number":19,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"09888717-4a37-4a0c-814f-8dab33cfc596","block_type":"box","text":"on accumulation shares","page_number":19,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"57b03c73-7e6e-4cba-8c7e-6209fb5388de","block_type":"box","text":"1.13","page_number":19,"box":{"x":703,"y":330,"width":20,"height":6}},{"id":"3411cb42-1237-4bd5-9477-aaa85e55b873","block_type":"box","text":"2.98","page_number":19,"box":{"x":771,"y":330,"width":23,"height":6}},{"id":"db517407-dd66-46f6-98b3-1d79a643a17a","block_type":"box","text":"0.00","page_number":19,"box":{"x":843,"y":330,"width":23,"height":6}},{"id":"e99c6adb-0bc6-4a49-8e94-b0e14d90b9be","block_type":"box","text":"2.61","page_number":19,"box":{"x":915,"y":330,"width":20,"height":6}},{"id":"898f363f-7d01-4389-a8a0-8b28b584edd6","block_type":"box","text":"Closing net asset","page_number":19,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"c80e26bc-9a5d-4381-a649-57cfbc091a54","block_type":"box","text":"value per share","page_number":19,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"674c6f17-7ced-4312-9b04-6c43b09beebd","block_type":"box","text":"126.30","page_number":19,"box":{"x":687,"y":357,"width":36,"height":6}},{"id":"63dc5eba-9cf5-4b12-8e0f-5bb2f448880c","block_type":"box","text":"121.45","page_number":19,"box":{"x":759,"y":357,"width":35,"height":6}},{"id":"0e6cb751-b402-44dd-bf84-18a3e3124904","block_type":"box","text":"113.98","page_number":19,"box":{"x":831,"y":357,"width":35,"height":6}},{"id":"2364ed3f-4b04-461f-b0ae-acacb64ec02a","block_type":"box","text":"109.74","page_number":19,"box":{"x":903,"y":357,"width":34,"height":6}},{"id":"2940c712-99c2-4d27-a888-8291807aa60c","block_type":"box","text":"* after direct transaction","page_number":19,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"e35c63cf-b966-4cc1-923b-3f48c0de9bb4","block_type":"box","text":"costs of:","page_number":19,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"c79b00e1-87ac-4187-8dbd-29a8a582c573","block_type":"box","text":"0.01","page_number":19,"box":{"x":701,"y":385,"width":20,"height":6}},{"id":"94707721-867f-444d-974a-d6a0b006a0ad","block_type":"box","text":"0.03","page_number":19,"box":{"x":772,"y":385,"width":22,"height":6}},{"id":"879538c0-554b-4980-a428-69829b53538f","block_type":"box","text":"0.03","page_number":19,"box":{"x":843,"y":385,"width":23,"height":6}},{"id":"4ebba03d-81ef-495e-a446-caab244ae802","block_type":"box","text":"0.02","page_number":19,"box":{"x":915,"y":385,"width":22,"height":6}},{"id":"b258f302-c119-4d34-86fe-041c2a63852b","block_type":"box","text":"Performance","page_number":19,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"1e49b0d3-3b42-45d5-9d27-b074be1dfda0","block_type":"box","text":"Return after charges","page_number":19,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"92dc37cb-2c3f-4aa9-96a4-bf5a1e046324","block_type":"box","text":"3.99%","page_number":19,"box":{"x":689,"y":419,"width":34,"height":7}},{"id":"28d587e4-3ede-4dd3-a7d6-ca0e59a5324e","block_type":"box","text":"6.55%","page_number":19,"box":{"x":761,"y":419,"width":33,"height":7}},{"id":"6223180a-7019-4a37-8be7-950911d5f514","block_type":"box","text":"3.86%","page_number":19,"box":{"x":832,"y":419,"width":33,"height":7}},{"id":"24a26f95-7971-4a9d-a09a-18e1810f1a5d","block_type":"box","text":"5.82%","page_number":19,"box":{"x":904,"y":419,"width":33,"height":7}},{"id":"f2f4fbb6-2361-4359-b515-970285f7cdd1","block_type":"box","text":"Other information","page_number":19,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"95fbf6d7-e09d-49fb-9135-09b801c5c74e","block_type":"box","text":"Closing net asset value","page_number":19,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"683dd612-6898-4ab3-9d9d-58b2d6edbd5c","block_type":"box","text":"(£’000)","page_number":19,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"f44682c1-c00f-4727-99f6-0e2f9c12cf12","block_type":"box","text":"5","page_number":19,"box":{"x":717,"y":447,"width":6,"height":6}},{"id":"72b68c04-5473-483c-9973-3fc03ebf94d0","block_type":"box","text":"5","page_number":19,"box":{"x":789,"y":447,"width":5,"height":6}},{"id":"3fd4bc1d-24a6-4080-bf64-f5b2e665da3a","block_type":"box","text":"7","page_number":19,"box":{"x":860,"y":447,"width":6,"height":6}},{"id":"05bd286f-b010-432a-8d85-82ae2bc5ce6e","block_type":"box","text":"201","page_number":19,"box":{"x":918,"y":447,"width":17,"height":6}},{"id":"491f8ae7-b825-47d5-88bb-330c9645e43c","block_type":"box","text":"Closing number of","page_number":19,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"c1948eaa-63fe-460a-8472-3d8580ac7f53","block_type":"box","text":"shares","page_number":19,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"9392fabd-05e2-484c-8373-7e6a4872b57a","block_type":"box","text":"4,202","page_number":19,"box":{"x":695,"y":466,"width":28,"height":7}},{"id":"05015038-54f6-43c4-8ac6-18d1206c8649","block_type":"box","text":"4,202","page_number":19,"box":{"x":766,"y":466,"width":28,"height":7}},{"id":"1fe40f98-16b8-4a0a-a01e-37f75d50fdce","block_type":"box","text":"5,887","page_number":19,"box":{"x":838,"y":466,"width":28,"height":7}},{"id":"d1714009-38c7-4328-8952-73ea1a19c4c5","block_type":"box","text":"183,001","page_number":19,"box":{"x":898,"y":466,"width":38,"height":7}},{"id":"612aae7b-52ed-4493-9c41-5891c5cace66","block_type":"box","text":"Operating charges","page_number":19,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"b690137f-e806-43b5-9959-aead79eca18b","block_type":"box","text":"0.55%","page_number":19,"box":{"x":690,"y":485,"width":33,"height":6}},{"id":"be2326b4-efc6-487c-8842-35e5287a3ab4","block_type":"box","text":"0.55%","page_number":19,"box":{"x":761,"y":485,"width":33,"height":6}},{"id":"35ac1075-c37d-447a-bcb9-5353e6c97e7d","block_type":"box","text":"0.55%","page_number":19,"box":{"x":833,"y":485,"width":32,"height":6}},{"id":"d8aa2ffd-346e-4fa6-ae4a-efcfe4e100a1","block_type":"box","text":"0.55%","page_number":19,"box":{"x":904,"y":485,"width":33,"height":6}},{"id":"b77d68aa-24d5-431a-ab80-b4e02811eeef","block_type":"box","text":"Direct transaction costs","page_number":19,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"c0dec7d3-3c88-4b06-a286-4c8133b98929","block_type":"box","text":"0.01%","page_number":19,"box":{"x":691,"y":495,"width":32,"height":6}},{"id":"a3ff53d6-8d62-46ed-a777-402588448c65","block_type":"box","text":"0.02%","page_number":19,"box":{"x":761,"y":495,"width":33,"height":6}},{"id":"37855468-1da0-43eb-ac2c-6ef75e997160","block_type":"box","text":"0.03%","page_number":19,"box":{"x":833,"y":495,"width":32,"height":6}},{"id":"6b8ba1d3-2d48-4cb0-a797-cee68eaeacf9","block_type":"box","text":"0.02%","page_number":19,"box":{"x":904,"y":495,"width":33,"height":6}},{"id":"9a4feddd-d746-441a-b0fd-c43ff0b7b4dd","block_type":"box","text":"Prices","page_number":19,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"df35bda8-4a52-4cbf-a3ce-233e21ccb5f8","block_type":"box","text":"^","page_number":19,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"c3cecef5-4df7-47d9-8256-8269dc18bd6c","block_type":"box","text":"Highest share price","page_number":19,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"1fdf242e-6577-44f2-a4d4-b90c50c514d6","block_type":"box","text":"126.70","page_number":19,"box":{"x":689,"y":522,"width":34,"height":6}},{"id":"b58b3d5f-24de-4c18-9b96-a6e3eeb7b1e6","block_type":"box","text":"122.00","page_number":19,"box":{"x":759,"y":522,"width":35,"height":6}},{"id":"b7aa9b63-1bf9-42e8-ae8e-010b7959e124","block_type":"box","text":"115.20","page_number":19,"box":{"x":832,"y":522,"width":34,"height":6}},{"id":"e631a5e4-3ae1-4c69-9163-fa732c0c3770","block_type":"box","text":"110.20","page_number":19,"box":{"x":903,"y":522,"width":34,"height":6}},{"id":"2b93f977-223a-471d-9dc4-c90eb5573c2d","block_type":"box","text":"Lowest share price","page_number":19,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"1d2f33dd-2381-4527-afef-b1cb5d05ff42","block_type":"box","text":"121.90","page_number":19,"box":{"x":689,"y":532,"width":34,"height":6}},{"id":"9a60f2d7-bc34-417e-97e6-3b61c73ea127","block_type":"box","text":"112.20","page_number":19,"box":{"x":760,"y":532,"width":34,"height":6}},{"id":"892fa13d-5b0d-44b1-b575-eebbeebe469f","block_type":"box","text":"108.50","page_number":19,"box":{"x":830,"y":532,"width":36,"height":6}},{"id":"53fe9302-13f1-4b08-9a7e-135e29037c87","block_type":"box","text":"103.40","page_number":19,"box":{"x":902,"y":532,"width":35,"height":6}},{"id":"3a2b98e2-4ae3-4eed-b03c-96511d4a8871","block_type":"box","text":"Comparative Tables","page_number":19,"box":{"x":58,"y":94,"width":236,"height":14}},{"id":"2194ac82-cf48-4518-a757-9af0eca89801","block_type":"box","text":"Royal London GMAP Defensive Fund | Royal London Multi-Asset Funds ICVC","page_number":19,"box":{"x":500,"y":33,"width":413,"height":8}},{"id":"549bc916-a450-4a7b-9b07-17e82c08ce9f","block_type":"box","text":"19","page_number":19,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"40a9eb0c-0e5d-4b15-b50b-91188733edfc","block_type":"box","text":"Comparative Tables","page_number":20,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"a1ffa746-767e-4d38-9d91-7baed774baad","block_type":"box","text":"(continued)","page_number":20,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"06d9e642-8707-4441-8275-da34a7a1e3ac","block_type":"box","text":"Class R Accumulation","page_number":20,"box":{"x":57,"y":151,"width":203,"height":9}},{"id":"0873d164-1f89-44e2-93d0-e35dfc0d4e75","block_type":"box","text":"Change in net assets","page_number":20,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"7b647e06-6c35-486c-963d-675ff72afc4f","block_type":"box","text":"30/06/26","page_number":20,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"fceb4b4b-5fdb-4877-9de6-fc6e8ee1d3d2","block_type":"box","text":"31/12/25","page_number":20,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"b6906518-3c1f-402f-a7f2-1cf04c4c1b7f","block_type":"box","text":"31/12/24","page_number":20,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"00d6ecaf-836b-4b1c-85fb-7d71bbdee3b7","block_type":"box","text":"31/12/23","page_number":20,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"bb81fc73-5bb0-47f7-8cc8-0d84a512f531","block_type":"box","text":"per share","page_number":20,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"31732acc-d31d-4254-9f4a-87e255eeeb54","block_type":"box","text":"(p)","page_number":20,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"4a3eaacd-72c3-47de-aa44-a4da698aff02","block_type":"box","text":"(p)","page_number":20,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"45d4e800-4d03-4b86-a124-6174c4f3879f","block_type":"box","text":"(p)","page_number":20,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"7dd19912-7dbb-4b7f-87ad-38fa05a54d30","block_type":"box","text":"(p)","page_number":20,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"1e3c2458-6424-4301-a126-885bdf5f37be","block_type":"box","text":"Opening net asset","page_number":20,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"ac82784c-37c8-4300-8cee-725a2c989443","block_type":"box","text":"value per share","page_number":20,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"731a41a3-4680-478b-bb39-f1ab728eff0a","block_type":"box","text":"127.67","page_number":20,"box":{"x":225,"y":205,"width":33,"height":6}},{"id":"8189304a-03ca-478e-92e4-95114444f7cd","block_type":"box","text":"119.41","page_number":20,"box":{"x":297,"y":205,"width":31,"height":6}},{"id":"f1069331-8bc8-4cca-9c4b-ab87f0ed39cd","block_type":"box","text":"114.59","page_number":20,"box":{"x":368,"y":205,"width":33,"height":6}},{"id":"4adac824-23b0-4c2d-8b23-a7e2e296a146","block_type":"box","text":"107.95","page_number":20,"box":{"x":439,"y":205,"width":34,"height":6}},{"id":"717d3a02-c1e6-4f6d-9f7f-241e0ec76210","block_type":"box","text":"Return before operating","page_number":20,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"fe4575ab-5d74-4914-9d1d-af8e60b5c0df","block_type":"box","text":"charges*","page_number":20,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"7bc0ae4b-17a8-4a1b-ae8c-5d10cf57b0dc","block_type":"box","text":"5.41","page_number":20,"box":{"x":237,"y":232,"width":20,"height":6}},{"id":"b58cdcea-2e95-40b7-99ac-54558ea54d90","block_type":"box","text":"8.41","page_number":20,"box":{"x":308,"y":232,"width":20,"height":6}},{"id":"01c46ae5-3d18-4af2-b666-5e4289e46bac","block_type":"box","text":"4.99","page_number":20,"box":{"x":378,"y":232,"width":23,"height":6}},{"id":"94190b99-8766-4870-94fc-095678f85006","block_type":"box","text":"6.80","page_number":20,"box":{"x":450,"y":232,"width":23,"height":6}},{"id":"e9a01ec1-98eb-4131-af41-dfdc1d93e984","block_type":"box","text":"Operating charges","page_number":20,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"4e9a7e60-05ae-43f4-99c4-879c8d4c0840","block_type":"box","text":"(0.08)","page_number":20,"box":{"x":233,"y":259,"width":30,"height":8}},{"id":"4d8c93e7-263d-4ea7-a165-353a62d5f29b","block_type":"box","text":"(0.15)","page_number":20,"box":{"x":305,"y":259,"width":29,"height":8}},{"id":"1153265a-c084-4974-9d7f-1d76b402eb9f","block_type":"box","text":"(0.17)","page_number":20,"box":{"x":377,"y":259,"width":28,"height":8}},{"id":"08e4645c-9e94-4239-a869-daba259c3318","block_type":"box","text":"(0.16)","page_number":20,"box":{"x":448,"y":259,"width":29,"height":8}},{"id":"65c5f83e-24c9-4d09-a905-0e1bc18c6533","block_type":"box","text":"Return after operating","page_number":20,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"fe3fe0ac-9ab2-4f30-bfbd-ff08e97f4732","block_type":"box","text":"charges*","page_number":20,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"73a6660c-012d-413a-8cb5-321946091f14","block_type":"box","text":"5.33","page_number":20,"box":{"x":236,"y":276,"width":22,"height":6}},{"id":"b03de0b9-a278-4a7e-b2ba-73f2ee672a78","block_type":"box","text":"8.26","page_number":20,"box":{"x":307,"y":276,"width":23,"height":6}},{"id":"5782d2fa-d011-4b8d-9afc-bb816c58df77","block_type":"box","text":"4.82","page_number":20,"box":{"x":379,"y":276,"width":22,"height":6}},{"id":"5613f8e6-eefa-414f-99d6-6ca8086bbf59","block_type":"box","text":"6.64","page_number":20,"box":{"x":450,"y":276,"width":23,"height":6}},{"id":"390a2f36-e07e-445e-8aaa-10da82459dc0","block_type":"box","text":"Distributions on","page_number":20,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"6a1fd6cc-7b00-4212-bf54-81601b06de31","block_type":"box","text":"accumulation shares","page_number":20,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"20b7983d-fc5f-495f-a8ce-6c07f3b16460","block_type":"box","text":"(1.42)","page_number":20,"box":{"x":234,"y":303,"width":29,"height":8}},{"id":"a4ce3204-29e2-413c-a77f-cc157c755a70","block_type":"box","text":"(3.55)","page_number":20,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"3644aacd-e437-4523-8a99-af6e0249f762","block_type":"box","text":"(3.63)","page_number":20,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"e20d2828-bfd8-4f8f-88ce-a3a03ab4951b","block_type":"box","text":"(3.13)","page_number":20,"box":{"x":449,"y":303,"width":28,"height":8}},{"id":"8063d54b-159e-4d37-9c44-a8e3ff49d41e","block_type":"box","text":"Retained distributions","page_number":20,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"f9a87f83-c028-43b2-a36c-849f6d708929","block_type":"box","text":"on accumulation shares","page_number":20,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"d087ed71-708b-4058-8c05-420f23e0d99a","block_type":"box","text":"1.42","page_number":20,"box":{"x":238,"y":330,"width":20,"height":6}},{"id":"ec733440-327f-44af-ab4a-92d4333c4412","block_type":"box","text":"3.55","page_number":20,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"1eb2788f-e26f-477a-a7c4-be00e7a41cd0","block_type":"box","text":"3.63","page_number":20,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"fca84300-145a-435c-800e-d4cf699063e2","block_type":"box","text":"3.13","page_number":20,"box":{"x":452,"y":330,"width":21,"height":6}},{"id":"250ef8ed-7703-48d7-92fd-39cfa41ade75","block_type":"box","text":"Closing net asset","page_number":20,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"5d1a6831-e5a0-4cae-82e3-f3a054aaf2a6","block_type":"box","text":"value per share","page_number":20,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"3c5ac210-237c-47ee-b4a8-76f01a618d17","block_type":"box","text":"133.00","page_number":20,"box":{"x":223,"y":357,"width":35,"height":6}},{"id":"3a196ecb-ba7a-46b4-9bf5-b2a86d17dd4c","block_type":"box","text":"127.67","page_number":20,"box":{"x":296,"y":357,"width":34,"height":6}},{"id":"db9d4530-823d-46f9-b85a-977fdbfb26ea","block_type":"box","text":"119.41","page_number":20,"box":{"x":367,"y":357,"width":33,"height":6}},{"id":"03a0870c-aa2a-4d66-8b06-a6d2a9531491","block_type":"box","text":"114.59","page_number":20,"box":{"x":438,"y":357,"width":35,"height":6}},{"id":"57a57fbb-f64e-47f8-b046-bc7954995391","block_type":"box","text":"* after direct transaction","page_number":20,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"33b42239-9bca-48c1-a940-4e96a69ff3b7","block_type":"box","text":"costs of:","page_number":20,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"e2f9c932-ba4b-40b4-8b8e-dae19729441e","block_type":"box","text":"0.02","page_number":20,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"13d8d99b-8601-43d8-ac79-d71d270f659b","block_type":"box","text":"0.03","page_number":20,"box":{"x":308,"y":385,"width":22,"height":6}},{"id":"06d8e6e5-57bb-45b0-92b2-96934d0a48da","block_type":"box","text":"0.03","page_number":20,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"0bdf1706-c49a-4035-b5c0-a7401d427ce1","block_type":"box","text":"0.02","page_number":20,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"7c69cd98-38b8-4664-a31e-8ca7f4cb4ef2","block_type":"box","text":"Performance","page_number":20,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"2f7e82db-4cbc-4ce4-af5c-b545d2204c8e","block_type":"box","text":"Return after charges","page_number":20,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"2f6f86e5-6675-427f-aace-a91fe18449c5","block_type":"box","text":"4.17%","page_number":20,"box":{"x":227,"y":419,"width":31,"height":7}},{"id":"6c4511ad-8a2c-431b-9192-6e5a71d67c71","block_type":"box","text":"6.92%","page_number":20,"box":{"x":297,"y":419,"width":33,"height":7}},{"id":"5f995066-0472-48ca-b629-5257c156421a","block_type":"box","text":"4.21%","page_number":20,"box":{"x":369,"y":419,"width":32,"height":7}},{"id":"873eb608-ff57-42e7-bf63-809a2fa141c6","block_type":"box","text":"6.15%","page_number":20,"box":{"x":441,"y":419,"width":32,"height":7}},{"id":"32f323da-28db-4deb-a2f6-a1cf4b7b96d0","block_type":"box","text":"Other information","page_number":20,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"6b9fe879-769f-47cf-8326-695a46cfb8c5","block_type":"box","text":"Closing net asset value","page_number":20,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"75180376-dc21-42c2-ad5a-11034fc297d3","block_type":"box","text":"(£’000)","page_number":20,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"a01010c2-5b0d-49ed-8b15-9f25ae4b0f72","block_type":"box","text":"25,536","page_number":20,"box":{"x":222,"y":447,"width":36,"height":7}},{"id":"b4389816-38ff-4620-8999-dc2466bf15ba","block_type":"box","text":"25,132","page_number":20,"box":{"x":296,"y":447,"width":34,"height":7}},{"id":"f2f6450d-991b-4ac9-b31c-fcc11bdaa0d5","block_type":"box","text":"22,708","page_number":20,"box":{"x":366,"y":447,"width":35,"height":7}},{"id":"338150ea-c852-47d5-9d26-15314580688d","block_type":"box","text":"23,080","page_number":20,"box":{"x":436,"y":447,"width":37,"height":7}},{"id":"ebdabb52-3651-4b23-aead-01d7a48d969b","block_type":"box","text":"Closing number of","page_number":20,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"6cf8254d-02ea-4e64-a58d-940c70d87ad6","block_type":"box","text":"shares","page_number":20,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"f696033b-c323-4d5d-bf86-d833ac1349da","block_type":"box","text":"19,199,638","page_number":20,"box":{"x":201,"y":466,"width":58,"height":7}},{"id":"1a51a99e-0917-4df5-bd40-2b3db22077de","block_type":"box","text":"19,685,268","page_number":20,"box":{"x":271,"y":466,"width":59,"height":7}},{"id":"b2de6fb3-7f17-4491-86ac-3e15d0b90b3f","block_type":"box","text":"19,017,805","page_number":20,"box":{"x":345,"y":466,"width":56,"height":7}},{"id":"86175f39-8b3d-4ee5-9512-ea42b3d66f54","block_type":"box","text":"20,141,279","page_number":20,"box":{"x":416,"y":466,"width":57,"height":7}},{"id":"5a8e8a04-64da-47cc-8d12-99d540599407","block_type":"box","text":"Operating charges","page_number":20,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"bce29c92-5308-47bd-9315-a0ef30aee2ab","block_type":"box","text":"0.12%","page_number":20,"box":{"x":227,"y":485,"width":31,"height":6}},{"id":"26434624-dd19-4dce-936b-e0137fd221ca","block_type":"box","text":"0.12%","page_number":20,"box":{"x":298,"y":485,"width":32,"height":6}},{"id":"3af6a06d-25b1-4780-aec9-cbbe03de2c51","block_type":"box","text":"0.12%","page_number":20,"box":{"x":366,"y":485,"width":31,"height":6}},{"id":"d2060268-3e47-4a3d-baab-9d2a175a8715","block_type":"box","text":"#","page_number":20,"box":{"x":398,"y":485,"width":4,"height":3}},{"id":"33604c92-c476-48ff-b45d-81f41423d5f5","block_type":"box","text":"0.15%","page_number":20,"box":{"x":441,"y":485,"width":32,"height":6}},{"id":"3f3f4027-daba-4b21-983d-2db0b3a48298","block_type":"box","text":"Direct transaction costs","page_number":20,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"1572f10b-3bff-4bda-b804-83b78d5b67ba","block_type":"box","text":"0.01%","page_number":20,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"e92968ed-fdc1-489b-8a52-d2e45ee4415c","block_type":"box","text":"0.02%","page_number":20,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"f09c8b66-a435-4606-89cb-aa1290e7247a","block_type":"box","text":"0.03%","page_number":20,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"758f533f-3155-4815-9b7a-a7c690bf1ddf","block_type":"box","text":"0.02%","page_number":20,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"9a7e17df-b989-4a31-929c-387aac3347dc","block_type":"box","text":"Prices","page_number":20,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"aa6a8814-e7e4-4c08-a6ec-2778b13ba91a","block_type":"box","text":"^","page_number":20,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"10141687-8aab-4527-9820-711f6857298a","block_type":"box","text":"Highest share price","page_number":20,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"050d7e03-7f37-4942-8b20-fcc5ef923876","block_type":"box","text":"133.40","page_number":20,"box":{"x":224,"y":522,"width":34,"height":6}},{"id":"dbb0af8a-6146-4266-adf8-fee34a66b973","block_type":"box","text":"128.20","page_number":20,"box":{"x":295,"y":522,"width":35,"height":6}},{"id":"0adc7642-2a69-43d9-b5bd-1f063daaa05d","block_type":"box","text":"120.60","page_number":20,"box":{"x":367,"y":522,"width":34,"height":6}},{"id":"94fbbb9e-856c-418d-bca8-74e0f8778d36","block_type":"box","text":"115.10","page_number":20,"box":{"x":440,"y":522,"width":33,"height":6}},{"id":"c9b77831-348a-4d85-baf1-6a234a1ea8d5","block_type":"box","text":"Lowest share price","page_number":20,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"c1e26cf2-0c70-4e5b-a223-cd41641cf8a2","block_type":"box","text":"128.10","page_number":20,"box":{"x":225,"y":532,"width":33,"height":6}},{"id":"f9563852-08b8-4d86-91b3-a6c82d46825a","block_type":"box","text":"117.70","page_number":20,"box":{"x":298,"y":532,"width":32,"height":6}},{"id":"2fc43aac-9039-4fb8-83de-9262ddccce01","block_type":"box","text":"113.40","page_number":20,"box":{"x":368,"y":532,"width":33,"height":6}},{"id":"245d5087-4c5d-4ba8-baa5-a0ea5ae16a89","block_type":"box","text":"107.80","page_number":20,"box":{"x":439,"y":532,"width":34,"height":6}},{"id":"9e9bf979-aee1-41ee-a71a-458d3a20ff06","block_type":"box","text":"#","page_number":20,"box":{"x":57,"y":556,"width":3,"height":3}},{"id":"e42d378f-8667-4027-a23f-49d89144850d","block_type":"box","text":"The FMF changed from 0.15% to 0.12% on 23 September 2024.","page_number":20,"box":{"x":63,"y":556,"width":337,"height":7}},{"id":"722ebc68-1cb2-43eb-a1b5-f4b6004ab4c5","block_type":"box","text":"Class S Accumulation","page_number":20,"box":{"x":57,"y":581,"width":202,"height":9}},{"id":"d77f8968-b675-4cda-acfd-6ca33ac64aa3","block_type":"box","text":"30/06/26","page_number":20,"box":{"x":283,"y":607,"width":47,"height":6}},{"id":"7c9b71f3-192b-4121-9260-5965a7a047aa","block_type":"box","text":"31/12/25","page_number":20,"box":{"x":356,"y":607,"width":46,"height":6}},{"id":"b44c48ca-4814-4915-9cc9-0410e32cfab4","block_type":"box","text":"30/12/24**","page_number":20,"box":{"x":417,"y":607,"width":56,"height":6}},{"id":"22b0232b-17ee-4fbe-9bb3-d63e4e88040d","block_type":"box","text":"Change in net assets per share","page_number":20,"box":{"x":57,"y":616,"width":178,"height":8}},{"id":"4ca2c69b-2e6c-4fb2-978c-8b7d2cf9a325","block_type":"box","text":"(p)","page_number":20,"box":{"x":316,"y":616,"width":14,"height":8}},{"id":"4579be65-36f6-4759-890e-d6600c701e86","block_type":"box","text":"(p)","page_number":20,"box":{"x":387,"y":616,"width":14,"height":8}},{"id":"ff06f895-c6d7-4b78-a52c-84178e0d0082","block_type":"box","text":"(p)","page_number":20,"box":{"x":459,"y":616,"width":14,"height":8}},{"id":"6157ad9f-3e04-4408-ad07-4bd06c224715","block_type":"box","text":"Opening net asset value per share","page_number":20,"box":{"x":57,"y":635,"width":183,"height":8}},{"id":"82f9b776-eeb4-48e7-86a1-3d1daf4b0132","block_type":"box","text":"106.68","page_number":20,"box":{"x":295,"y":635,"width":35,"height":6}},{"id":"1db524a5-234c-40b6-a48f-35dda6a4d2b7","block_type":"box","text":"99.80","page_number":20,"box":{"x":372,"y":635,"width":29,"height":6}},{"id":"dfc50c0d-3836-4271-afcc-0336ec91f235","block_type":"box","text":"100.00","page_number":20,"box":{"x":438,"y":635,"width":35,"height":6}},{"id":"66fbba03-cb2c-4df2-ba28-1d5c239d4f4b","block_type":"box","text":"Return before operating charges*","page_number":20,"box":{"x":58,"y":652,"width":176,"height":8}},{"id":"eb0fedc0-eec5-4f43-b199-3d9d1906e303","block_type":"box","text":"4.53","page_number":20,"box":{"x":307,"y":652,"width":23,"height":6}},{"id":"c9543770-59a1-4eab-a70f-9d7bc86fc392","block_type":"box","text":"7.03","page_number":20,"box":{"x":380,"y":652,"width":21,"height":6}},{"id":"7b9814a3-222a-462e-b562-187029bcf5fa","block_type":"box","text":"(0.16)","page_number":20,"box":{"x":448,"y":652,"width":29,"height":8}},{"id":"bcd171e6-134d-4311-90f8-9d0001dd50e1","block_type":"box","text":"Operating charges","page_number":20,"box":{"x":57,"y":670,"width":99,"height":8}},{"id":"fbea281b-8a9c-419a-aa07-2bd69c53acfe","block_type":"box","text":"(0.08)","page_number":20,"box":{"x":304,"y":670,"width":30,"height":8}},{"id":"730e4868-3d77-422a-9c09-b4cd8d9a4b61","block_type":"box","text":"(0.15)","page_number":20,"box":{"x":377,"y":670,"width":28,"height":8}},{"id":"33f4b62e-0cbe-4fa4-aa1b-08d947cd7d9a","block_type":"box","text":"(0.04)","page_number":20,"box":{"x":447,"y":670,"width":30,"height":8}},{"id":"079fe6f6-3ad5-4320-86c0-12941bfdc353","block_type":"box","text":"Return after operating charges*","page_number":20,"box":{"x":58,"y":687,"width":167,"height":8}},{"id":"8acbf232-6084-4002-b7d3-e24774736e8b","block_type":"box","text":"4.45","page_number":20,"box":{"x":307,"y":687,"width":23,"height":6}},{"id":"beed53fd-3bce-45cd-aea9-2b2f07df350a","block_type":"box","text":"6.88","page_number":20,"box":{"x":379,"y":687,"width":22,"height":6}},{"id":"1dd1ab46-e8b5-43f7-9b0d-36717951b4c4","block_type":"box","text":"(0.20)","page_number":20,"box":{"x":447,"y":687,"width":30,"height":8}},{"id":"389406af-a235-420c-9bb4-bb4dcf272302","block_type":"box","text":"Distributions on accumulation shares","page_number":20,"box":{"x":58,"y":705,"width":196,"height":6}},{"id":"60425769-de54-446f-9fcd-71fac4e49277","block_type":"box","text":"(1.38)","page_number":20,"box":{"x":305,"y":705,"width":29,"height":8}},{"id":"6ed88352-7a92-462d-a237-59614c440e4a","block_type":"box","text":"(2.95)","page_number":20,"box":{"x":375,"y":705,"width":30,"height":8}},{"id":"d2ce5f9d-1614-41e8-8fca-c63273510b1e","block_type":"box","text":"(1.50)","page_number":20,"box":{"x":448,"y":705,"width":29,"height":8}},{"id":"e2a6be5a-891d-4db8-9885-41ca4e123b10","block_type":"box","text":"Retained distributions on","page_number":20,"box":{"x":58,"y":722,"width":131,"height":6}},{"id":"beb86fcb-590e-4411-acb2-979a4f7992b3","block_type":"box","text":"accumulation shares","page_number":20,"box":{"x":57,"y":732,"width":110,"height":6}},{"id":"09963d5c-49a7-4298-999c-c6c8f4ce0ac1","block_type":"box","text":"1.38","page_number":20,"box":{"x":309,"y":722,"width":21,"height":6}},{"id":"0b9c4660-f4ee-4f6c-830d-f29630f5b652","block_type":"box","text":"2.95","page_number":20,"box":{"x":379,"y":722,"width":22,"height":6}},{"id":"1dc70ac0-0be4-487b-b3ec-512bc5466af0","block_type":"box","text":"1.50","page_number":20,"box":{"x":451,"y":722,"width":22,"height":6}},{"id":"031919b7-b3fc-4d6c-b9af-8a5f8e5aca72","block_type":"box","text":"Closing net asset value per share","page_number":20,"box":{"x":57,"y":749,"width":191,"height":8}},{"id":"a1bb95b2-a9e3-45f2-9288-dab1ae75dd51","block_type":"box","text":"111.13","page_number":20,"box":{"x":298,"y":749,"width":32,"height":6}},{"id":"094714fc-0a83-4425-9f08-4c51f370133d","block_type":"box","text":"106.68","page_number":20,"box":{"x":366,"y":749,"width":35,"height":6}},{"id":"72d431fd-f6f7-4185-88a9-dd05110762ab","block_type":"box","text":"99.80","page_number":20,"box":{"x":443,"y":749,"width":30,"height":6}},{"id":"cedbd043-1004-448f-b7ed-33ee2eb3c228","block_type":"box","text":"* after direct transaction costs of:","page_number":20,"box":{"x":57,"y":767,"width":175,"height":7}},{"id":"757ab801-d0c2-4b65-8673-586c8b741e33","block_type":"box","text":"0.01","page_number":20,"box":{"x":308,"y":767,"width":20,"height":7}},{"id":"6d232071-08a4-4531-9f44-4ab367cce286","block_type":"box","text":"0.02","page_number":20,"box":{"x":379,"y":767,"width":22,"height":7}},{"id":"ad71c7ad-8d53-48d8-8671-d40e0933291f","block_type":"box","text":"0.03","page_number":20,"box":{"x":450,"y":767,"width":23,"height":7}},{"id":"1b53fbc3-289e-4f3e-a98c-85a4c8ab2996","block_type":"box","text":"Performance","page_number":20,"box":{"x":58,"y":783,"width":73,"height":6}},{"id":"cd3beb68-f461-4675-b76c-21c5a3212461","block_type":"box","text":"Return after charges","page_number":20,"box":{"x":58,"y":793,"width":108,"height":7}},{"id":"de3feccd-11e6-4646-9c28-e7b546ce7d7b","block_type":"box","text":"4.17%","page_number":20,"box":{"x":298,"y":793,"width":32,"height":6}},{"id":"4f43c550-dc48-4e97-8032-d806c54c3066","block_type":"box","text":"6.89%","page_number":20,"box":{"x":368,"y":793,"width":33,"height":6}},{"id":"e624e5b1-49ff-4d9c-af14-e6209aacde8c","block_type":"box","text":"(0.20)%","page_number":20,"box":{"x":437,"y":793,"width":40,"height":7}},{"id":"0491c329-57f6-4c4b-9ab6-37a7eecfdb0d","block_type":"box","text":"Other information","page_number":20,"box":{"x":57,"y":811,"width":102,"height":6}},{"id":"017811b5-b4eb-4b39-b95e-b8d309b7d7a0","block_type":"box","text":"Closing net asset value (£’000)","page_number":20,"box":{"x":57,"y":820,"width":165,"height":8}},{"id":"2789817e-9369-4253-9f0d-f8f822b18020","block_type":"box","text":"78","page_number":20,"box":{"x":318,"y":820,"width":12,"height":6}},{"id":"937623ef-7d22-4946-8511-83a7419cb3d7","block_type":"box","text":"15","page_number":20,"box":{"x":390,"y":820,"width":11,"height":6}},{"id":"3bd61e6d-849a-4828-91ce-98b926c8801c","block_type":"box","text":"5","page_number":20,"box":{"x":467,"y":820,"width":6,"height":6}},{"id":"20922be1-30d4-4ee6-9472-7c2e0e77a10f","block_type":"box","text":"Closing number of shares","page_number":20,"box":{"x":57,"y":830,"width":136,"height":8}},{"id":"293fac08-6311-43c9-b9af-65a84adaa98d","block_type":"box","text":"69,890","page_number":20,"box":{"x":293,"y":830,"width":37,"height":7}},{"id":"0f3567b8-9ffd-4727-9084-0220f2f2b19b","block_type":"box","text":"14,085","page_number":20,"box":{"x":367,"y":830,"width":34,"height":7}},{"id":"030a5198-c7a5-4ce3-a897-aceb31a83fda","block_type":"box","text":"5,000","page_number":20,"box":{"x":443,"y":830,"width":30,"height":7}},{"id":"ec8e4eb4-42f4-4f12-8c24-10f57cd2cc11","block_type":"box","text":"Operating charges","page_number":20,"box":{"x":57,"y":840,"width":99,"height":8}},{"id":"52118959-bce1-4feb-a4ac-53fa92844fe2","block_type":"box","text":"0.15%","page_number":20,"box":{"x":299,"y":840,"width":31,"height":6}},{"id":"9f3c7978-d1a8-4391-beca-decafccea43c","block_type":"box","text":"0.15%","page_number":20,"box":{"x":370,"y":840,"width":31,"height":6}},{"id":"2ac6c056-82e5-4101-b7fc-3453bea2de1f","block_type":"box","text":"0.15%","page_number":20,"box":{"x":441,"y":840,"width":32,"height":6}},{"id":"bd4c873e-983b-41db-a941-d6629444d459","block_type":"box","text":"Direct transaction costs","page_number":20,"box":{"x":58,"y":850,"width":125,"height":6}},{"id":"f7d99d79-8cba-48cd-bf35-f3f8e7507e13","block_type":"box","text":"0.01%","page_number":20,"box":{"x":298,"y":850,"width":32,"height":7}},{"id":"6052d575-d77d-48ff-8d89-81cd3cf2dfb5","block_type":"box","text":"0.02%","page_number":20,"box":{"x":368,"y":850,"width":33,"height":7}},{"id":"99237602-c18e-4ccb-a673-579fa14121e7","block_type":"box","text":"0.03%","page_number":20,"box":{"x":440,"y":850,"width":33,"height":7}},{"id":"a46c43d2-2ab7-4015-91a0-5c183d2ca9ea","block_type":"box","text":"Prices","page_number":20,"box":{"x":58,"y":868,"width":35,"height":6}},{"id":"0122606a-d573-475a-8392-166e3601705e","block_type":"box","text":"^","page_number":20,"box":{"x":94,"y":868,"width":3,"height":2}},{"id":"420ba9d4-4573-456f-9918-50c7a29dd75e","block_type":"box","text":"Highest share price","page_number":20,"box":{"x":58,"y":878,"width":102,"height":7}},{"id":"7250317a-31f4-42b6-8bd3-3286da2d3796","block_type":"box","text":"111.40","page_number":20,"box":{"x":297,"y":878,"width":33,"height":6}},{"id":"5204885b-fd1c-469a-92ef-dd6ecbf16701","block_type":"box","text":"107.10","page_number":20,"box":{"x":369,"y":878,"width":32,"height":6}},{"id":"4a4e0d74-04e3-483e-922d-1ca6c9980de8","block_type":"box","text":"100.69","page_number":20,"box":{"x":438,"y":878,"width":35,"height":6}},{"id":"4e92bf3d-bcdb-435d-8176-c1fd8737d14b","block_type":"box","text":"Lowest share price","page_number":20,"box":{"x":58,"y":888,"width":99,"height":8}},{"id":"f5669160-f1c3-44a8-8cb0-784199c14500","block_type":"box","text":"107.10","page_number":20,"box":{"x":298,"y":888,"width":32,"height":6}},{"id":"595d6e91-a509-42c7-b774-9207802f4413","block_type":"box","text":"98.33","page_number":20,"box":{"x":372,"y":888,"width":29,"height":6}},{"id":"56aa1182-bc9d-45de-ab1f-4687f97d1d4b","block_type":"box","text":"50.07","page_number":20,"box":{"x":444,"y":888,"width":29,"height":6}},{"id":"97347cdb-1eae-4664-8aad-ea7f68c74c1b","block_type":"box","text":"** Class S Accumulation launched on 30 September 2024.","page_number":20,"box":{"x":57,"y":911,"width":310,"height":8}},{"id":"34a5fd80-d6fe-4b4e-bc53-f73551928faf","block_type":"box","text":"Class Z Accumulation","page_number":20,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"6795cde4-fa05-4091-accb-4c1663bafcb5","block_type":"box","text":"Change in net assets","page_number":20,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"d591ea37-d2e0-4218-94ca-2e35323faf5e","block_type":"box","text":"30/06/26","page_number":20,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"af205cbf-d2ca-4c91-aa98-e460fa960f60","block_type":"box","text":"31/12/25","page_number":20,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"b9b9b356-2c29-40d9-b0c2-c3498f615425","block_type":"box","text":"31/12/24","page_number":20,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"a729dff1-b220-4c98-af01-741fbaf0a12e","block_type":"box","text":"30/12/23**","page_number":20,"box":{"x":881,"y":177,"width":56,"height":6}},{"id":"6a4d7d01-bcb0-4d49-931f-dc7cfff2c326","block_type":"box","text":"per share","page_number":20,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"4f186544-a368-4736-a922-845075af45c9","block_type":"box","text":"(p)","page_number":20,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"193fa590-2371-4215-b5ea-f842fda8a900","block_type":"box","text":"(p)","page_number":20,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"69f6a942-959a-4386-9dcf-35b3530e9289","block_type":"box","text":"(p)","page_number":20,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"b443129f-3d68-4445-8953-3735f6c9f77a","block_type":"box","text":"(p)","page_number":20,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"4b1d391a-f91a-4fa2-8640-66e0928e0d80","block_type":"box","text":"Opening net asset","page_number":20,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"c2376a5b-14f4-4bc2-897e-e4c85ec00af4","block_type":"box","text":"value per share","page_number":20,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"e0fc1cae-2946-44cf-95f6-397e73dfb543","block_type":"box","text":"115.19","page_number":20,"box":{"x":691,"y":205,"width":32,"height":6}},{"id":"34634def-8864-4817-b303-5ca811b268e4","block_type":"box","text":"107.97","page_number":20,"box":{"x":761,"y":205,"width":33,"height":6}},{"id":"67b39e8a-550a-4993-9ecd-b3fe65d4e1fe","block_type":"box","text":"103.81","page_number":20,"box":{"x":831,"y":205,"width":33,"height":6}},{"id":"74474d1a-7a2d-4b13-af2f-4c8830ab627a","block_type":"box","text":"100.00","page_number":20,"box":{"x":902,"y":205,"width":35,"height":6}},{"id":"aa4ab07a-967c-417f-b8ee-203c626e2ac0","block_type":"box","text":"Return before operating","page_number":20,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"a2ee6c88-b438-4106-b2f9-cc277e98c4a8","block_type":"box","text":"charges*","page_number":20,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"257a1dc3-16a7-4980-ac5e-c238787c1bb7","block_type":"box","text":"4.89","page_number":20,"box":{"x":700,"y":232,"width":23,"height":6}},{"id":"400c4141-ecf0-4c57-8bdd-c35781cc9289","block_type":"box","text":"7.66","page_number":20,"box":{"x":773,"y":232,"width":21,"height":6}},{"id":"6c5342d1-0a80-4e1e-bf19-a2705fa6f960","block_type":"box","text":"4.59","page_number":20,"box":{"x":843,"y":232,"width":23,"height":6}},{"id":"da15e595-3abc-434e-ac05-5b0c1cd1c277","block_type":"box","text":"4.19","page_number":20,"box":{"x":916,"y":232,"width":21,"height":6}},{"id":"238412f5-81e6-4eaf-9fa1-01338bf2cf7b","block_type":"box","text":"Operating charges","page_number":20,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"3bb69106-c272-49c1-b3fc-d704a6b9908d","block_type":"box","text":"(0.20)","page_number":20,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"b7fedef2-4f45-4e77-bbea-123dde53dc10","block_type":"box","text":"(0.44)","page_number":20,"box":{"x":768,"y":259,"width":30,"height":8}},{"id":"efc93bb9-e07e-4619-a63e-dacf9d19864c","block_type":"box","text":"(0.43)","page_number":20,"box":{"x":840,"y":259,"width":30,"height":8}},{"id":"edf6d74b-47e0-44c1-866b-30a68cc9c16a","block_type":"box","text":"(0.38)","page_number":20,"box":{"x":911,"y":259,"width":30,"height":8}},{"id":"6e373db7-d59c-48f7-b68f-ccfb94d4551e","block_type":"box","text":"Return after operating","page_number":20,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"dc27f913-d03b-4d72-af70-34ba1a5662de","block_type":"box","text":"charges*","page_number":20,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"ddfc56bc-3834-45bf-ab02-404ea78d4c26","block_type":"box","text":"4.69","page_number":20,"box":{"x":700,"y":276,"width":23,"height":6}},{"id":"fb960ce1-e144-43b2-9ee8-35699dce5306","block_type":"box","text":"7.22","page_number":20,"box":{"x":773,"y":276,"width":21,"height":6}},{"id":"cfe6f44d-3d73-459f-b694-2a39e55f201f","block_type":"box","text":"4.16","page_number":20,"box":{"x":844,"y":276,"width":22,"height":6}},{"id":"c02c147d-c1f5-422c-8b6e-702a76145cf3","block_type":"box","text":"3.81","page_number":20,"box":{"x":915,"y":276,"width":20,"height":6}},{"id":"a9ffa13a-cf99-494d-8ac2-0e3b361aded7","block_type":"box","text":"Distributions on","page_number":20,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"8052425c-3bad-47c9-aee6-2f053415c7d0","block_type":"box","text":"accumulation shares","page_number":20,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"11f97bf4-d282-4a74-b707-5c7e9decb3d5","block_type":"box","text":"(1.17)","page_number":20,"box":{"x":699,"y":303,"width":28,"height":8}},{"id":"4778bd13-2838-4543-82f5-91ed45f7d3b4","block_type":"box","text":"(2.96)","page_number":20,"box":{"x":768,"y":303,"width":30,"height":8}},{"id":"2ca56712-4207-43b4-8dc8-8d8467067fec","block_type":"box","text":"(3.29)","page_number":20,"box":{"x":839,"y":303,"width":31,"height":8}},{"id":"75c5f15c-49f3-4f4d-b8ba-2085b0d55d09","block_type":"box","text":"(2.64)","page_number":20,"box":{"x":911,"y":303,"width":30,"height":8}},{"id":"37afc15a-28e6-4662-b6b2-784852f6c049","block_type":"box","text":"Retained distributions","page_number":20,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"fc2919b8-0718-4cad-a2d7-0cdf7a0c037f","block_type":"box","text":"on accumulation shares","page_number":20,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"697585ec-86c3-46e5-8f5b-23bb39d42686","block_type":"box","text":"1.17","page_number":20,"box":{"x":703,"y":330,"width":20,"height":6}},{"id":"9278601f-ad9d-40ae-8d76-2384a874ec09","block_type":"box","text":"2.96","page_number":20,"box":{"x":771,"y":330,"width":23,"height":6}},{"id":"a712ce63-e71c-43ae-99b7-7cb05ed90d2b","block_type":"box","text":"3.29","page_number":20,"box":{"x":843,"y":330,"width":23,"height":6}},{"id":"287bb534-f1cc-40a0-97c5-0ad429afc6df","block_type":"box","text":"2.64","page_number":20,"box":{"x":914,"y":330,"width":23,"height":6}},{"id":"dc4c79d7-7c54-4ad8-9e9f-e057c90869c8","block_type":"box","text":"Closing net asset","page_number":20,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"9de03ea4-b20e-45af-aad0-217ec7883116","block_type":"box","text":"value per share","page_number":20,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"3d359df5-b7a4-4065-a5fd-4fa498d3f21f","block_type":"box","text":"119.88","page_number":20,"box":{"x":688,"y":357,"width":35,"height":6}},{"id":"913227ad-43cc-4247-9a1c-9b5aa66e04ad","block_type":"box","text":"115.19","page_number":20,"box":{"x":761,"y":357,"width":33,"height":6}},{"id":"ca2023d1-0cec-44ed-ae14-f9ff5b4f12bd","block_type":"box","text":"107.97","page_number":20,"box":{"x":832,"y":357,"width":34,"height":6}},{"id":"44a8615a-30c0-49bb-94a8-aef17507e56b","block_type":"box","text":"103.81","page_number":20,"box":{"x":902,"y":357,"width":34,"height":6}},{"id":"0d1108c0-16b2-4e16-9658-2da2b2693362","block_type":"box","text":"* after direct transaction","page_number":20,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"8ae4ff5d-06b1-4458-9788-cd11eaeaa758","block_type":"box","text":"costs of:","page_number":20,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"e4b550bc-eb13-4ecf-b9af-73b5cff54cfc","block_type":"box","text":"0.01","page_number":20,"box":{"x":701,"y":385,"width":20,"height":6}},{"id":"79432b0a-79d8-4bb4-8be4-ca270b715f84","block_type":"box","text":"0.03","page_number":20,"box":{"x":772,"y":385,"width":22,"height":6}},{"id":"354e4668-6598-4b9c-a381-72d0bfac002e","block_type":"box","text":"0.03","page_number":20,"box":{"x":843,"y":385,"width":23,"height":6}},{"id":"1aa18baf-a85e-4db2-992f-3f1de2eaa820","block_type":"box","text":"0.02","page_number":20,"box":{"x":915,"y":385,"width":22,"height":6}},{"id":"199d4668-81f8-4c57-9954-ad8885cb64d6","block_type":"box","text":"Performance","page_number":20,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"22c44733-4c0b-4fc5-a4fb-6282f0a8fbfe","block_type":"box","text":"Return after charges","page_number":20,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"36ba4641-6d1a-451e-b3a9-c62e8f0c03a9","block_type":"box","text":"4.07%","page_number":20,"box":{"x":690,"y":419,"width":33,"height":7}},{"id":"24fe8b7d-1748-4303-ac19-8b728468b5b4","block_type":"box","text":"6.69%","page_number":20,"box":{"x":761,"y":419,"width":33,"height":7}},{"id":"65d2112f-86a9-47ee-87d6-89fe3d660706","block_type":"box","text":"4.02%","page_number":20,"box":{"x":832,"y":419,"width":33,"height":7}},{"id":"89668eb6-5e0e-4363-9bdd-2757aed4c80f","block_type":"box","text":"3.81%","page_number":20,"box":{"x":905,"y":419,"width":32,"height":7}},{"id":"de575527-09b0-44b0-84ee-98d534070c20","block_type":"box","text":"Other information","page_number":20,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"ee17c62e-9fe9-4180-8c8a-fe8e6935438a","block_type":"box","text":"Closing net asset value","page_number":20,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"788e95b0-ea2b-4d2b-8cd8-b70f377a4c98","block_type":"box","text":"(£’000)","page_number":20,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"69c7e4e6-89c3-4a2b-a9f9-c3a1313e5270","block_type":"box","text":"9,764","page_number":20,"box":{"x":694,"y":447,"width":29,"height":7}},{"id":"1a6bb022-becc-469c-a859-bb18f03d8eeb","block_type":"box","text":"6,625","page_number":20,"box":{"x":765,"y":447,"width":29,"height":7}},{"id":"9f09d446-ec7d-4e0d-890e-b3b1306fe814","block_type":"box","text":"1,941","page_number":20,"box":{"x":838,"y":447,"width":26,"height":7}},{"id":"f99bb696-e139-4db4-a642-3d2af0403324","block_type":"box","text":"2","page_number":20,"box":{"x":931,"y":447,"width":6,"height":6}},{"id":"4f748a65-61e9-40e9-bd9e-6ac0e3f8f74a","block_type":"box","text":"Closing number of","page_number":20,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"66e69ad7-8e61-492b-b021-db229ea1da26","block_type":"box","text":"shares","page_number":20,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"24caf81d-c2e1-47bf-b61e-a2f4c6b8f645","block_type":"box","text":"8,144,465","page_number":20,"box":{"x":671,"y":466,"width":52,"height":7}},{"id":"9020481f-2f2a-41cc-9f3a-eb6a93589ca8","block_type":"box","text":"5,751,412","page_number":20,"box":{"x":744,"y":466,"width":50,"height":7}},{"id":"d598e58c-5609-4636-a9d4-6f0a2e7748de","block_type":"box","text":"1,797,626","page_number":20,"box":{"x":816,"y":466,"width":50,"height":7}},{"id":"c46736ea-6755-4270-b0c8-91f38428237b","block_type":"box","text":"2,500","page_number":20,"box":{"x":907,"y":466,"width":30,"height":7}},{"id":"916428d3-67b0-4264-8c45-01002f279e34","block_type":"box","text":"Operating charges","page_number":20,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"8366c1a9-23cd-4662-aafe-93762b3239da","block_type":"box","text":"0.30%","page_number":20,"box":{"x":685,"y":485,"width":33,"height":6}},{"id":"7196e871-d472-419b-b92a-2bc2d48d2915","block_type":"box","text":"#","page_number":20,"box":{"x":719,"y":485,"width":4,"height":3}},{"id":"b5863ceb-fa0a-417d-85a9-15db44f48bff","block_type":"box","text":"0.40%","page_number":20,"box":{"x":761,"y":485,"width":33,"height":6}},{"id":"ec24dfbe-d71d-4b42-ac34-43dd44456c74","block_type":"box","text":"0.40%","page_number":20,"box":{"x":833,"y":485,"width":32,"height":6}},{"id":"71803d3f-67da-4f85-83c2-813c1e2e1c0a","block_type":"box","text":"0.40%","page_number":20,"box":{"x":904,"y":485,"width":33,"height":6}},{"id":"d023e0b9-db22-4293-b0cb-630b08d92c15","block_type":"box","text":"Direct transaction costs","page_number":20,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"444492f9-bf39-4b4d-bda9-beac7c1ab6cd","block_type":"box","text":"0.01%","page_number":20,"box":{"x":691,"y":495,"width":32,"height":6}},{"id":"a8e84f08-088e-4ea3-b5c1-3b24cd252d5a","block_type":"box","text":"0.02%","page_number":20,"box":{"x":761,"y":495,"width":33,"height":6}},{"id":"e9c6c5e9-b88c-4247-ba0d-3332748d8f79","block_type":"box","text":"0.03%","page_number":20,"box":{"x":833,"y":495,"width":32,"height":6}},{"id":"26d7bae6-368d-427f-b38a-fcf184a22488","block_type":"box","text":"0.02%","page_number":20,"box":{"x":904,"y":495,"width":33,"height":6}},{"id":"dc51ae78-5671-4156-b347-5f7a8e3f4f6b","block_type":"box","text":"Prices","page_number":20,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"9eb79575-2454-41a2-9bca-abbb0d388317","block_type":"box","text":"^","page_number":20,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"c6d7f325-e085-49df-bb42-e30e413c97cc","block_type":"box","text":"Highest share price","page_number":20,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"d3a88afc-245f-4f9a-817e-39122c4e8464","block_type":"box","text":"120.20","page_number":20,"box":{"x":688,"y":522,"width":35,"height":6}},{"id":"96869c0d-6c8a-4854-bd7d-f49fc60d4115","block_type":"box","text":"115.70","page_number":20,"box":{"x":761,"y":522,"width":33,"height":6}},{"id":"5f432131-ce7a-4403-87bc-b8996728afcd","block_type":"box","text":"109.10","page_number":20,"box":{"x":832,"y":522,"width":34,"height":6}},{"id":"d1ac1dcb-0a23-49cb-9851-7ee9c6777046","block_type":"box","text":"104.30","page_number":20,"box":{"x":902,"y":522,"width":35,"height":6}},{"id":"d1b79bdb-9ed0-42c4-90ef-5e86d7090b3f","block_type":"box","text":"Lowest share price","page_number":20,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"f2e101cb-b0f5-4248-a7d7-73f7470d4370","block_type":"box","text":"115.60","page_number":20,"box":{"x":689,"y":532,"width":34,"height":6}},{"id":"1ec5c4e9-e33c-4e1c-99c1-52dc793157ee","block_type":"box","text":"106.30","page_number":20,"box":{"x":759,"y":532,"width":35,"height":6}},{"id":"e57dedb8-07d5-40e6-9058-caf442f428a4","block_type":"box","text":"102.70","page_number":20,"box":{"x":831,"y":532,"width":35,"height":6}},{"id":"96b6657c-0258-4412-9d3f-776a0fc98c4e","block_type":"box","text":"97.74","page_number":20,"box":{"x":910,"y":532,"width":27,"height":6}},{"id":"6ea4aa2f-31be-4a00-aede-4aaa571d07ed","block_type":"box","text":"** Class Z Accumulation launched on 31 January 2023.","page_number":20,"box":{"x":521,"y":556,"width":293,"height":7}},{"id":"14b216f8-9051-4f27-8f98-74ed0757c4cc","block_type":"box","text":"#","page_number":20,"box":{"x":521,"y":570,"width":4,"height":3}},{"id":"1fb41c47-f5fa-434c-8f6e-e3555e1eb0d8","block_type":"box","text":"The FMF changed from 0.40% to 0.30% on 31 March 2026.","page_number":20,"box":{"x":527,"y":570,"width":316,"height":8}},{"id":"24381581-2076-4307-8442-cb4debf1f807","block_type":"box","text":"^","page_number":20,"box":{"x":521,"y":584,"width":3,"height":2}},{"id":"7acc2892-e886-4e40-801f-deb7d4981563","block_type":"box","text":"The high and low prices disclosed are the high and low prices for the accounting","page_number":20,"box":{"x":527,"y":584,"width":415,"height":8}},{"id":"79f7b700-eca3-4035-a1dc-b4fa1eed51db","block_type":"box","text":"period and not the calendar year.","page_number":20,"box":{"x":522,"y":595,"width":174,"height":7}},{"id":"2cb6f2fa-62d0-4609-a6a2-bd12dadd28e6","block_type":"box","text":"From 3 June 2019, the Fund has received a full rebate of","page_number":20,"box":{"x":522,"y":613,"width":421,"height":9}},{"id":"e4e0d762-dd7e-41e8-ac9c-e4e07d4c3e2b","block_type":"box","text":"synthetic costs to maintain the Fund Management Fee at a","page_number":20,"box":{"x":521,"y":626,"width":421,"height":10}},{"id":"fdbe7296-8256-4328-bb9c-dec603e44d9b","block_type":"box","text":"fixed level.","page_number":20,"box":{"x":521,"y":639,"width":71,"height":8}},{"id":"950cce11-1f4b-4ec1-83ac-ff74d52e3dae","block_type":"box","text":"It should be noted that past performance is not a reliable","page_number":20,"box":{"x":522,"y":655,"width":420,"height":10}},{"id":"5d71f255-9b35-46be-b610-851b85a05266","block_type":"box","text":"indicator of future performance and that the value of shares,","page_number":20,"box":{"x":522,"y":668,"width":419,"height":10}},{"id":"f3fe10bf-8358-437c-aaaf-28b9077366f1","block_type":"box","text":"and the income derived from them, can vary.","page_number":20,"box":{"x":521,"y":681,"width":303,"height":10}},{"id":"107cf5a1-911b-48ca-820a-bde50c0f7bc6","block_type":"box","text":"Royal London GMAP Defensive Fund | Royal London Multi-Asset Funds ICVC","page_number":20,"box":{"x":500,"y":33,"width":413,"height":8}},{"id":"a16860d0-9ab2-4864-b94e-dc6a5e4ce718","block_type":"box","text":"20","page_number":20,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"c52289d3-c52f-448d-b978-a9a0c548b2f9","block_type":"box","text":"Portfolio Statement","page_number":21,"box":{"x":58,"y":94,"width":233,"height":11}},{"id":"b9de6fe7-c843-460f-bf0d-183311cf29a9","block_type":"box","text":"As at 30","page_number":21,"box":{"x":57,"y":113,"width":55,"height":8}},{"id":"f7818bff-d364-4522-9721-3725624fada3","block_type":"box","text":"June 2026","page_number":21,"box":{"x":117,"y":113,"width":70,"height":8}},{"id":"0d55bb7b-0210-42cd-a015-d5a8edc2ff62","block_type":"box","text":"Bond Collective Investment Schemes – 70.73% (31/12/25 – 73.94%)","page_number":21,"box":{"x":58,"y":201,"width":378,"height":8}},{"id":"e2cee185-d363-40a2-8b84-3f5b38e0fd31","block_type":"box","text":"746,186","page_number":21,"box":{"x":79,"y":211,"width":41,"height":7}},{"id":"703819e1-77cb-4ca4-bd9e-97630172ab56","block_type":"box","text":"Royal London Emerging Markets Corporate","page_number":21,"box":{"x":129,"y":211,"width":225,"height":8}},{"id":"c57dc892-9961-4b1b-94ac-7fa6ccb6020b","block_type":"box","text":"Bond Fund R Acc","page_number":21,"box":{"x":129,"y":221,"width":90,"height":6}},{"id":"57e1d17d-54d4-4e4b-813f-c7666e8a02e5","block_type":"box","text":"†","page_number":21,"box":{"x":220,"y":220,"width":3,"height":5}},{"id":"05fb46ba-9267-4912-838c-47e456e9fc61","block_type":"box","text":"954","page_number":21,"box":{"x":380,"y":220,"width":19,"height":7}},{"id":"0792bc63-dff6-45a5-9304-a85efd254f36","block_type":"box","text":"1.13","page_number":21,"box":{"x":451,"y":220,"width":21,"height":7}},{"id":"fdfb1345-68a1-4c32-8473-e5b0bdfe58c0","block_type":"box","text":"1,706,084","page_number":21,"box":{"x":70,"y":230,"width":50,"height":7}},{"id":"f78d4b4a-5529-4a34-8baa-e970cf9036be","block_type":"box","text":"Royal London Global High Yield Bond Fund","page_number":21,"box":{"x":129,"y":230,"width":225,"height":8}},{"id":"5daa7fd9-401d-4bea-904c-cd17f39ee6a3","block_type":"box","text":"R Acc","page_number":21,"box":{"x":129,"y":240,"width":30,"height":6}},{"id":"76a4fdee-df3c-4aab-bd6f-3a8c5d3df604","block_type":"box","text":"†","page_number":21,"box":{"x":159,"y":240,"width":3,"height":4}},{"id":"a2d727ac-7081-4ef1-9cc7-3c7fe0b889aa","block_type":"box","text":"2,245","page_number":21,"box":{"x":370,"y":240,"width":29,"height":7}},{"id":"cd076d8e-fb7a-4233-aa79-0ca5bf35bf5b","block_type":"box","text":"2.66","page_number":21,"box":{"x":450,"y":240,"width":22,"height":6}},{"id":"e467d04d-c95d-4195-977f-ab7abbbb8458","block_type":"box","text":"2,997,651","page_number":21,"box":{"x":69,"y":249,"width":50,"height":7}},{"id":"6f7f2d20-601d-4591-821e-dbe291764cab","block_type":"box","text":"Royal London Global Senior ABS Fund","page_number":21,"box":{"x":129,"y":249,"width":202,"height":8}},{"id":"155ab03e-729c-47a5-bf10-4e1d1d4a7c3e","block_type":"box","text":"R Acc","page_number":21,"box":{"x":129,"y":259,"width":30,"height":6}},{"id":"30f7c397-f11a-47c7-bd36-4dd7e18bcd78","block_type":"box","text":"†","page_number":21,"box":{"x":159,"y":259,"width":3,"height":4}},{"id":"3febfcf8-0644-4d21-bf3e-2714d97b5c07","block_type":"box","text":"3,193","page_number":21,"box":{"x":371,"y":259,"width":28,"height":7}},{"id":"4c40512e-1de3-4909-82f5-3f8a46fc719a","block_type":"box","text":"3.79","page_number":21,"box":{"x":450,"y":259,"width":22,"height":6}},{"id":"ceafbc5c-8747-491b-aeaa-0e421ae8d0fb","block_type":"box","text":"2,842,882","page_number":21,"box":{"x":69,"y":268,"width":51,"height":7}},{"id":"61d877b9-0cbf-4f2c-bfe9-4323917e1221","block_type":"box","text":"Royal London Global Sustainable Credit","page_number":21,"box":{"x":129,"y":268,"width":208,"height":8}},{"id":"48a9abb0-7eb3-46e7-b57b-5c4824f907f7","block_type":"box","text":"Fund R Acc","page_number":21,"box":{"x":129,"y":278,"width":60,"height":6}},{"id":"4ffee483-4a07-4bf3-b4ad-2771055b96d8","block_type":"box","text":"†","page_number":21,"box":{"x":189,"y":278,"width":3,"height":4}},{"id":"23f0f223-b482-4863-ae13-6cf3cd8b2edf","block_type":"box","text":"2,956","page_number":21,"box":{"x":370,"y":278,"width":29,"height":7}},{"id":"185e6958-73b5-4a19-b9de-0eb1bb57e85f","block_type":"box","text":"3.50","page_number":21,"box":{"x":450,"y":278,"width":22,"height":6}},{"id":"779aa411-b8e5-4326-b204-48c14c8f7336","block_type":"box","text":"5,226,430","page_number":21,"box":{"x":69,"y":287,"width":51,"height":7}},{"id":"eaa6a177-d315-4263-81e6-716087c632c0","block_type":"box","text":"Royal London Index Linked Fund R Acc","page_number":21,"box":{"x":129,"y":287,"width":206,"height":8}},{"id":"52841056-c684-4e44-ac55-767cae4af5d9","block_type":"box","text":"†","page_number":21,"box":{"x":335,"y":287,"width":3,"height":4}},{"id":"3d6aaf65-9899-4e3c-a8d4-7f8c5d9bd7ea","block_type":"box","text":"4,305","page_number":21,"box":{"x":370,"y":287,"width":29,"height":7}},{"id":"df510d8f-4649-47e1-8b0e-8810fb616345","block_type":"box","text":"5.10","page_number":21,"box":{"x":450,"y":287,"width":22,"height":6}},{"id":"2c6b091a-d6b9-46d5-af71-ecc0eadb3e14","block_type":"box","text":"4,104,540","page_number":21,"box":{"x":69,"y":297,"width":51,"height":7}},{"id":"0d759105-5f69-41b4-87b7-795ddab2eba1","block_type":"box","text":"Royal London International Government","page_number":21,"box":{"x":129,"y":296,"width":207,"height":8}},{"id":"705ba258-77f3-4f67-ae1a-d224275851be","block_type":"box","text":"Bond Fund R Acc","page_number":21,"box":{"x":129,"y":306,"width":90,"height":6}},{"id":"55c0b940-c138-46cf-a3e3-07eb26460e7d","block_type":"box","text":"†","page_number":21,"box":{"x":220,"y":306,"width":3,"height":4}},{"id":"7a6a3506-75bc-4980-83a4-e2b64e2f893b","block_type":"box","text":"4,706","page_number":21,"box":{"x":370,"y":306,"width":29,"height":7}},{"id":"9e3077ba-69e2-4ea6-8f6b-904658ca33f7","block_type":"box","text":"5.58","page_number":21,"box":{"x":450,"y":306,"width":22,"height":6}},{"id":"cd4a7ce2-1136-4025-a30f-d11f759a386d","block_type":"box","text":"5,858,314","page_number":21,"box":{"x":69,"y":316,"width":51,"height":7}},{"id":"b29e4aea-1fbc-4916-bc07-2061f01c1013","block_type":"box","text":"Royal London Investment Grade Short","page_number":21,"box":{"x":129,"y":315,"width":200,"height":8}},{"id":"818c8117-5053-4a46-9cc4-5b49d19ea737","block_type":"box","text":"Dated Credit Fund R Acc","page_number":21,"box":{"x":129,"y":325,"width":129,"height":6}},{"id":"d9a6bcd0-fbd1-4c39-9d2d-4dee7701cba2","block_type":"box","text":"†","page_number":21,"box":{"x":258,"y":325,"width":4,"height":4}},{"id":"674310f6-cc5d-4436-923b-23b7d8351827","block_type":"box","text":"7,396","page_number":21,"box":{"x":371,"y":325,"width":28,"height":7}},{"id":"a173ee09-91cf-4339-ba65-5b488f53dd20","block_type":"box","text":"8.77","page_number":21,"box":{"x":450,"y":325,"width":22,"height":6}},{"id":"d8ab0b9d-0ac1-45dd-9111-a56429d89725","block_type":"box","text":"4,633,863","page_number":21,"box":{"x":69,"y":335,"width":51,"height":7}},{"id":"9b6925d4-50a1-42b9-aee9-74e9c6b591b1","block_type":"box","text":"Royal London Short Duration Gilts Fund","page_number":21,"box":{"x":129,"y":334,"width":207,"height":8}},{"id":"b20c3fcb-acbe-496d-b653-ec73bec7c231","block_type":"box","text":"R Acc","page_number":21,"box":{"x":129,"y":344,"width":30,"height":6}},{"id":"0c7714ba-4f17-40c6-93c2-df87dc0e697b","block_type":"box","text":"†","page_number":21,"box":{"x":159,"y":344,"width":3,"height":4}},{"id":"b9d9354a-e8ed-41e7-9452-9cbee05e87c4","block_type":"box","text":"5,277","page_number":21,"box":{"x":371,"y":344,"width":28,"height":7}},{"id":"3b85c22b-48bc-4fdc-9177-a58143a76ac3","block_type":"box","text":"6.26","page_number":21,"box":{"x":450,"y":344,"width":22,"height":6}},{"id":"826d11e1-7c0d-4911-a653-96971c2d8ef9","block_type":"box","text":"3,309,569","page_number":21,"box":{"x":69,"y":354,"width":51,"height":7}},{"id":"da828b73-dbc7-4194-a624-e2f6a58d4f8a","block_type":"box","text":"Royal London Short Duration Global Index","page_number":21,"box":{"x":129,"y":353,"width":220,"height":8}},{"id":"9da3abd7-081a-4be6-a302-8167e742ecd8","block_type":"box","text":"Linked Fund R Acc","page_number":21,"box":{"x":129,"y":363,"width":98,"height":6}},{"id":"c7c4e25a-021f-4edd-b97b-07677fb59375","block_type":"box","text":"†","page_number":21,"box":{"x":227,"y":363,"width":3,"height":4}},{"id":"a9053a97-deca-4e45-9aab-c61a760e31c5","block_type":"box","text":"4,218","page_number":21,"box":{"x":370,"y":363,"width":29,"height":7}},{"id":"1b376cdc-9e8b-43bd-b449-9d76b51effa3","block_type":"box","text":"5.00","page_number":21,"box":{"x":450,"y":363,"width":22,"height":6}},{"id":"0ce77b84-5aa4-41d6-9291-235ba3266751","block_type":"box","text":"400,000","page_number":21,"box":{"x":79,"y":373,"width":41,"height":7}},{"id":"56a790ab-defe-4507-b8b8-25db04cd20aa","block_type":"box","text":"Royal London Short-Term Money Market","page_number":21,"box":{"x":129,"y":372,"width":211,"height":8}},{"id":"3234b53a-0004-4a98-8230-da36436f9a7e","block_type":"box","text":"Fund R Acc","page_number":21,"box":{"x":129,"y":382,"width":60,"height":6}},{"id":"b765656e-7250-40f0-9c95-518ccfae086e","block_type":"box","text":"†","page_number":21,"box":{"x":189,"y":382,"width":3,"height":4}},{"id":"b03c1084-2c68-4be7-bb03-50a83b997bf1","block_type":"box","text":"484","page_number":21,"box":{"x":380,"y":382,"width":19,"height":6}},{"id":"bb0f25aa-02fa-4520-92e2-a7935be5a08f","block_type":"box","text":"0.57","page_number":21,"box":{"x":450,"y":382,"width":22,"height":6}},{"id":"eff6a6b2-cdde-4061-b8d2-ed97157d6613","block_type":"box","text":"5,796,826","page_number":21,"box":{"x":69,"y":392,"width":51,"height":7}},{"id":"9d844248-4527-40f7-b1e6-9db096f261b4","block_type":"box","text":"Royal London Sterling Credit Fund R Acc","page_number":21,"box":{"x":129,"y":391,"width":213,"height":8}},{"id":"c2b23274-91fb-49ac-bf23-58a87af1509e","block_type":"box","text":"†","page_number":21,"box":{"x":343,"y":392,"width":3,"height":4}},{"id":"dedb409f-781c-4fec-bdc3-9b0a7d3eb46e","block_type":"box","text":"7,717","page_number":21,"box":{"x":371,"y":392,"width":28,"height":7}},{"id":"f315aec4-f7f2-4638-b95d-dc77a46b0215","block_type":"box","text":"9.15","page_number":21,"box":{"x":450,"y":392,"width":22,"height":6}},{"id":"190f2e70-c83e-4dd6-b4d6-12fe269ebadf","block_type":"box","text":"4,879,734","page_number":21,"box":{"x":69,"y":401,"width":51,"height":7}},{"id":"c8f57ff4-5ecd-41db-a9ef-4b54495623a2","block_type":"box","text":"Royal London Sterling Liquidity Money","page_number":21,"box":{"x":129,"y":401,"width":200,"height":8}},{"id":"f3a3a2e2-07bb-42ce-bf35-ef0f26ae22f1","block_type":"box","text":"Market Fund R Inc","page_number":21,"box":{"x":129,"y":411,"width":96,"height":6}},{"id":"f7d8b905-aad7-4007-a94a-3f42f294d318","block_type":"box","text":"†","page_number":21,"box":{"x":225,"y":411,"width":3,"height":4}},{"id":"eb0158ea-d842-417b-82f4-e21b2c702c34","block_type":"box","text":"4,880","page_number":21,"box":{"x":370,"y":411,"width":29,"height":7}},{"id":"1ddc9cea-ed80-42e0-986c-46303af0a6c9","block_type":"box","text":"5.79","page_number":21,"box":{"x":450,"y":411,"width":22,"height":6}},{"id":"f940b348-299f-4a37-bcb9-78e5492210cd","block_type":"box","text":"11,748,571","page_number":21,"box":{"x":64,"y":420,"width":55,"height":7}},{"id":"2126230f-63b6-4162-a62a-e914af8464a2","block_type":"box","text":"Royal London UK Government Bond Fund","page_number":21,"box":{"x":129,"y":420,"width":219,"height":8}},{"id":"89a7f45a-0dac-4c63-a4f5-77ae3d756e98","block_type":"box","text":"R Acc","page_number":21,"box":{"x":129,"y":430,"width":30,"height":6}},{"id":"58cc56b4-630e-424e-abc7-ab377adc5b02","block_type":"box","text":"†","page_number":21,"box":{"x":159,"y":430,"width":3,"height":4}},{"id":"8ee744f9-1263-4d85-bf51-d63052b0a978","block_type":"box","text":"11,327","page_number":21,"box":{"x":366,"y":430,"width":33,"height":7}},{"id":"5d8c9b0c-d250-407a-8877-60e6d9fcaa54","block_type":"box","text":"13.43","page_number":21,"box":{"x":444,"y":430,"width":28,"height":6}},{"id":"dc84f363-297f-4c93-b184-30fc62437400","block_type":"box","text":"Total Bond Collective Investment Schemes","page_number":21,"box":{"x":57,"y":446,"width":239,"height":6}},{"id":"ad85eba3-eac5-4867-862c-f7ffca286c8c","block_type":"box","text":"59,658","page_number":21,"box":{"x":364,"y":446,"width":35,"height":7}},{"id":"a7e376d3-6474-457b-8e40-56630b5ed7bf","block_type":"box","text":"70.73","page_number":21,"box":{"x":443,"y":446,"width":29,"height":6}},{"id":"d2d500fe-42e3-4b8b-9760-280cb0c28865","block_type":"box","text":"Equity Collective Investment Schemes – 23.08% (31/12/25 – 18.74%)","page_number":21,"box":{"x":58,"y":462,"width":384,"height":8}},{"id":"0f9abd89-5131-4831-9f5d-cd8702a7faf5","block_type":"box","text":"163,710","page_number":21,"box":{"x":80,"y":472,"width":40,"height":7}},{"id":"d2d764ee-6a5b-47f7-999a-05e0fe222a11","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt","page_number":21,"box":{"x":129,"y":471,"width":204,"height":8}},{"id":"0fba81bc-0930-4c91-8a89-0dee5556a810","block_type":"box","text":"Fund R Acc","page_number":21,"box":{"x":129,"y":481,"width":60,"height":6}},{"id":"69a91def-7b5e-4096-9d21-a6f4274b0e12","block_type":"box","text":"†","page_number":21,"box":{"x":189,"y":481,"width":3,"height":4}},{"id":"aef1903d-fbb0-4c9c-a4e3-f1932d050340","block_type":"box","text":"488","page_number":21,"box":{"x":380,"y":481,"width":19,"height":6}},{"id":"eb68aaab-53d5-4b0d-99af-3cbbb5f6d271","block_type":"box","text":"0.58","page_number":21,"box":{"x":450,"y":481,"width":22,"height":6}},{"id":"54ad99f3-836e-4889-a872-8f29acd37a3f","block_type":"box","text":"1,009,835","page_number":21,"box":{"x":70,"y":491,"width":50,"height":7}},{"id":"93793d30-3c6f-41ff-bb85-3b8c2cb03117","block_type":"box","text":"Royal London Emerging Markets Equity","page_number":21,"box":{"x":129,"y":491,"width":206,"height":7}},{"id":"a56cea86-08bf-4f06-808d-c306573f7927","block_type":"box","text":"Tilt Fund R Acc","page_number":21,"box":{"x":128,"y":500,"width":79,"height":6}},{"id":"1b5a692b-30dc-40e8-b758-aa4e29772988","block_type":"box","text":"†","page_number":21,"box":{"x":208,"y":500,"width":3,"height":4}},{"id":"7fd9178a-9251-4c29-a9e2-32504404d260","block_type":"box","text":"2,113","page_number":21,"box":{"x":371,"y":500,"width":28,"height":7}},{"id":"8c4807a5-96ba-4b4f-9d28-9fa75a98badc","block_type":"box","text":"2.50","page_number":21,"box":{"x":450,"y":500,"width":22,"height":6}},{"id":"44474ebb-b1b4-458b-9a15-c742e575a8d2","block_type":"box","text":"267,026","page_number":21,"box":{"x":79,"y":510,"width":41,"height":7}},{"id":"2f506455-9987-4871-b599-0db808409a18","block_type":"box","text":"Royal London Europe ex UK Equity Tilt","page_number":21,"box":{"x":129,"y":510,"width":202,"height":7}},{"id":"92e5d96c-ed57-468e-80dd-834bc03f3279","block_type":"box","text":"Fund R Acc","page_number":21,"box":{"x":129,"y":519,"width":60,"height":6}},{"id":"6e36c1ab-67a9-4f46-9b37-bd1edc1ca938","block_type":"box","text":"†","page_number":21,"box":{"x":189,"y":519,"width":3,"height":4}},{"id":"0a97ca60-4960-45d6-be07-47d3d4de6dd5","block_type":"box","text":"601","page_number":21,"box":{"x":380,"y":519,"width":17,"height":6}},{"id":"a5c60b1a-b0be-42d4-b451-51baacd6cc0a","block_type":"box","text":"0.71","page_number":21,"box":{"x":450,"y":519,"width":20,"height":6}},{"id":"7fba4dd4-8c75-452e-bbe3-9cd4c113e56c","block_type":"box","text":"796,496","page_number":21,"box":{"x":79,"y":529,"width":41,"height":7}},{"id":"a78dfdce-0f90-455c-8bd5-a2319b36d812","block_type":"box","text":"Royal London Global Equity Diversified","page_number":21,"box":{"x":129,"y":528,"width":202,"height":8}},{"id":"96a90184-9a97-4a67-8986-756f4b28c521","block_type":"box","text":"Fund R Acc","page_number":21,"box":{"x":129,"y":538,"width":60,"height":6}},{"id":"b0aacfcf-1a89-42bf-89b6-dedb44581ff6","block_type":"box","text":"†","page_number":21,"box":{"x":189,"y":538,"width":3,"height":4}},{"id":"f82927d3-9be4-48d2-9ee7-b7ea2b162db9","block_type":"box","text":"2,372","page_number":21,"box":{"x":370,"y":538,"width":29,"height":7}},{"id":"9f2b53b0-3f84-44fb-93fe-79d4a2cc4331","block_type":"box","text":"2.81","page_number":21,"box":{"x":450,"y":538,"width":20,"height":6}},{"id":"0c941ceb-65b0-4dfa-ab8d-a07d4437536c","block_type":"box","text":"1,380,767","page_number":21,"box":{"x":70,"y":548,"width":50,"height":7}},{"id":"1f0c9c95-8b7e-4ad5-9307-cefae2465a47","block_type":"box","text":"Royal London Global Equity Enhanced Fund","page_number":21,"box":{"x":129,"y":547,"width":230,"height":8}},{"id":"17c8b83e-501a-4c78-a27c-9c1c2c5773ed","block_type":"box","text":"R Acc","page_number":21,"box":{"x":129,"y":557,"width":30,"height":6}},{"id":"96d085ea-6a6a-4fe7-8779-c46f2e213223","block_type":"box","text":"†","page_number":21,"box":{"x":159,"y":557,"width":3,"height":4}},{"id":"d8ca60da-f616-4469-b056-015f24f42d6d","block_type":"box","text":"2,413","page_number":21,"box":{"x":370,"y":557,"width":29,"height":7}},{"id":"cf7e13b6-3c0d-4d91-a7e2-146c891acf53","block_type":"box","text":"2.86","page_number":21,"box":{"x":450,"y":557,"width":22,"height":6}},{"id":"f108e641-10ec-4d2a-a5fa-4d96d04221f9","block_type":"box","text":"721,044","page_number":21,"box":{"x":79,"y":567,"width":41,"height":7}},{"id":"30bf92fd-48c3-456f-8b31-79f212cd016c","block_type":"box","text":"Royal London Global Equity Tilt Fund","page_number":21,"box":{"x":129,"y":566,"width":192,"height":8}},{"id":"f26eaa18-3099-459f-91e7-b63614fbf746","block_type":"box","text":"R Acc","page_number":21,"box":{"x":129,"y":576,"width":30,"height":6}},{"id":"6fd23842-a5cf-433d-8589-87f379d61055","block_type":"box","text":"†","page_number":21,"box":{"x":159,"y":576,"width":3,"height":4}},{"id":"297c34ec-6935-4b10-9a37-c32e79daeed2","block_type":"box","text":"803","page_number":21,"box":{"x":380,"y":576,"width":19,"height":6}},{"id":"1f49afd8-c7de-43c9-8e96-9788e83e9654","block_type":"box","text":"0.95","page_number":21,"box":{"x":450,"y":576,"width":22,"height":6}},{"id":"636ff43a-d33c-4adb-899c-965a1b11aa75","block_type":"box","text":"174,418","page_number":21,"box":{"x":80,"y":586,"width":40,"height":7}},{"id":"9a49b6f2-4577-49d1-93e4-40ed686681e6","block_type":"box","text":"Royal London Japan Equity Tilt Fund","page_number":21,"box":{"x":129,"y":586,"width":190,"height":7}},{"id":"be9e1949-be60-440d-9a66-ebe2b6b5b152","block_type":"box","text":"R Acc","page_number":21,"box":{"x":129,"y":595,"width":30,"height":6}},{"id":"d7e34a68-26b2-4b6e-a706-447fc8a90bbd","block_type":"box","text":"†","page_number":21,"box":{"x":159,"y":595,"width":3,"height":4}},{"id":"c942f9bb-92f2-4149-a26a-1bfe2f0e85c0","block_type":"box","text":"326","page_number":21,"box":{"x":380,"y":595,"width":19,"height":6}},{"id":"9bb1b422-6ba6-4adb-946a-a20b57eb7125","block_type":"box","text":"0.39","page_number":21,"box":{"x":450,"y":595,"width":22,"height":6}},{"id":"bba363a0-460c-4e19-9dbf-3caed7b71e40","block_type":"box","text":"516,461","page_number":21,"box":{"x":79,"y":605,"width":40,"height":7}},{"id":"a08b3690-8970-486b-9b7d-749910272411","block_type":"box","text":"Royal London Property Trust A Acc","page_number":21,"box":{"x":129,"y":605,"width":181,"height":7}},{"id":"12bba84d-804d-4982-b9f0-11be6f8332a5","block_type":"box","text":"†","page_number":21,"box":{"x":310,"y":605,"width":3,"height":4}},{"id":"b7a7e604-46b7-4eac-9226-0eefcf6f7c52","block_type":"box","text":"4,389","page_number":21,"box":{"x":370,"y":605,"width":29,"height":7}},{"id":"e31cf941-4cff-465e-9f4c-033f1a2a5b5c","block_type":"box","text":"5.20","page_number":21,"box":{"x":450,"y":605,"width":22,"height":6}},{"id":"4ec7fb1a-8c5b-4bc9-ab3e-3787ba0903c4","block_type":"box","text":"2,065,542","page_number":21,"box":{"x":69,"y":614,"width":51,"height":7}},{"id":"e4c1c88e-1394-48a0-b261-56ac2ac228fc","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund","page_number":21,"box":{"x":129,"y":614,"width":209,"height":8}},{"id":"b10d4a44-ad57-4573-937f-f6237ebbfe05","block_type":"box","text":"R Acc","page_number":21,"box":{"x":129,"y":624,"width":30,"height":6}},{"id":"726e0e86-190c-4847-9f08-950608314fb4","block_type":"box","text":"†","page_number":21,"box":{"x":159,"y":624,"width":3,"height":4}},{"id":"d7a2b7e0-50c5-45cf-99fe-0976d34861a5","block_type":"box","text":"3,412","page_number":21,"box":{"x":371,"y":624,"width":28,"height":7}},{"id":"5604cf93-7010-4b00-aab3-08241635167e","block_type":"box","text":"4.05","page_number":21,"box":{"x":450,"y":624,"width":22,"height":6}},{"id":"5810a5eb-406c-4198-ae87-7e411c028397","block_type":"box","text":"907,661","page_number":21,"box":{"x":79,"y":633,"width":40,"height":7}},{"id":"e69adec8-0710-4ab1-937b-75ca1a892564","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":21,"box":{"x":129,"y":633,"width":209,"height":8}},{"id":"1a8d1353-c150-4d7d-bb1a-75233ca7edf3","block_type":"box","text":"†","page_number":21,"box":{"x":339,"y":633,"width":3,"height":4}},{"id":"bf66a71f-2b0f-468f-85bc-6ea8e029e962","block_type":"box","text":"2,552","page_number":21,"box":{"x":370,"y":633,"width":29,"height":7}},{"id":"654a9321-9bb2-49de-9548-98d6a2813ce3","block_type":"box","text":"3.03","page_number":21,"box":{"x":450,"y":633,"width":22,"height":6}},{"id":"560f1069-9852-4cb9-b9d0-5a919734adc5","block_type":"box","text":"Total Equity Collective Investment Schemes","page_number":21,"box":{"x":57,"y":649,"width":245,"height":8}},{"id":"89521e51-c3c6-4ab6-a306-8b4778cd0676","block_type":"box","text":"19,469","page_number":21,"box":{"x":364,"y":649,"width":35,"height":8}},{"id":"1fae950b-4f90-4815-a6c8-c1f76a26a31f","block_type":"box","text":"23.08","page_number":21,"box":{"x":443,"y":649,"width":29,"height":6}},{"id":"da8b4420-5460-4182-8afc-414936733a0b","block_type":"box","text":"Exchange Traded Commodities – 0.00% (31/12/25 – 1.50%)","page_number":21,"box":{"x":58,"y":675,"width":330,"height":8}},{"id":"b0992a47-4548-4b9c-a380-c9067d4038e5","block_type":"box","text":"Exchange Traded Funds – 4.98% (31/12/25 – 5.43%)","page_number":21,"box":{"x":58,"y":694,"width":289,"height":8}},{"id":"df2e2511-adb7-4864-be5a-533b88e5169a","block_type":"box","text":"154,617","page_number":21,"box":{"x":80,"y":704,"width":40,"height":7}},{"id":"b0c659e5-dec6-42ed-9df6-c8541707c6ae","block_type":"box","text":"Invesco Bloomberg Commodity Carbon","page_number":21,"box":{"x":129,"y":703,"width":203,"height":8}},{"id":"41d800b8-0427-4f59-881b-6aeda1ac96ad","block_type":"box","text":"Tilted UCITS ETF","page_number":21,"box":{"x":128,"y":713,"width":92,"height":6}},{"id":"27689612-0c38-403c-ac9e-4aa43d1fcc40","block_type":"box","text":"820","page_number":21,"box":{"x":380,"y":713,"width":19,"height":6}},{"id":"20a61229-b747-4d6d-bd04-987fecc5bdcc","block_type":"box","text":"0.97","page_number":21,"box":{"x":450,"y":713,"width":22,"height":6}},{"id":"2cfd1f4b-1360-43b7-87dc-b9c69bf02ab0","block_type":"box","text":"146,159","page_number":21,"box":{"x":80,"y":723,"width":40,"height":7}},{"id":"33f9dc28-4549-43e7-9acc-e9c3b0e6aead","block_type":"box","text":"iShares Bloomberg Roll Select Commodity","page_number":21,"box":{"x":129,"y":722,"width":221,"height":8}},{"id":"07876944-4789-4e62-a445-e1af4b5fb83b","block_type":"box","text":"Swap UCITS ETF","page_number":21,"box":{"x":129,"y":732,"width":92,"height":8}},{"id":"9a7b5f5b-4715-4ca2-98f2-6e38b9bf1951","block_type":"box","text":"1,103","page_number":21,"box":{"x":371,"y":732,"width":28,"height":7}},{"id":"f6a0ae93-a97d-4e20-b4d7-d2056c366427","block_type":"box","text":"1.31","page_number":21,"box":{"x":451,"y":732,"width":19,"height":6}},{"id":"16b57512-0240-4ca6-9e0f-20b86a021c44","block_type":"box","text":"654","page_number":21,"box":{"x":102,"y":742,"width":18,"height":6}},{"id":"c2962d02-4b84-43f7-a540-3a77f0cbf80d","block_type":"box","text":"iShares MSCI Canada UCITS ETF","page_number":21,"box":{"x":129,"y":741,"width":180,"height":7}},{"id":"67427845-67c5-42e5-ba51-7626197727f1","block_type":"box","text":"147","page_number":21,"box":{"x":381,"y":742,"width":18,"height":6}},{"id":"22f64371-876d-4549-8511-25825d16be5b","block_type":"box","text":"0.18","page_number":21,"box":{"x":450,"y":742,"width":22,"height":6}},{"id":"1ab4ad47-bead-4f9e-a5a2-1181106dd001","block_type":"box","text":"66,306","page_number":21,"box":{"x":85,"y":751,"width":35,"height":7}},{"id":"a5b2af70-75d9-485d-a085-f4a137af9cb9","block_type":"box","text":"UBS (IRL) Fund Solutions – UCITS ETF","page_number":21,"box":{"x":129,"y":751,"width":208,"height":8}},{"id":"3126353e-3801-43d5-abe5-c5aecc4478bb","block_type":"box","text":"B Acc","page_number":21,"box":{"x":129,"y":761,"width":29,"height":6}},{"id":"6821ab2e-be2a-4dd2-95fe-51f3353ffcfd","block_type":"box","text":"1,034","page_number":21,"box":{"x":371,"y":761,"width":28,"height":7}},{"id":"08cf59db-a39c-4da3-8885-fa36c03c053c","block_type":"box","text":"1.23","page_number":21,"box":{"x":451,"y":761,"width":21,"height":6}},{"id":"88200cc5-2430-46b9-8be4-f4864e5e4aea","block_type":"box","text":"72,470","page_number":21,"box":{"x":86,"y":770,"width":34,"height":7}},{"id":"91d50ea0-dbd2-40ab-bf1b-c85b6a5aa742","block_type":"box","text":"Wisdomtree Enhanced Commodity","page_number":21,"box":{"x":128,"y":770,"width":182,"height":8}},{"id":"794270dd-dd46-49d2-a3ee-68b43924b4ee","block_type":"box","text":"UCITS ETF","page_number":21,"box":{"x":129,"y":779,"width":59,"height":7}},{"id":"3dad878c-5983-40fe-886b-cdcbe2c18c54","block_type":"box","text":"1,092","page_number":21,"box":{"x":371,"y":780,"width":28,"height":7}},{"id":"f4bd8df8-f282-428f-8c69-6a5323ce0bdc","block_type":"box","text":"1.29","page_number":21,"box":{"x":451,"y":780,"width":21,"height":6}},{"id":"77ec084f-ec20-4b4a-b1d0-6090bdc0f817","block_type":"box","text":"Total Exchange Traded Funds","page_number":21,"box":{"x":57,"y":796,"width":165,"height":8}},{"id":"110a6b4c-5a68-4635-ac3f-71ea389855ce","block_type":"box","text":"4,196","page_number":21,"box":{"x":370,"y":796,"width":29,"height":7}},{"id":"0dfcbc3c-b692-49e8-a328-e72995a8fbcd","block_type":"box","text":"4.98","page_number":21,"box":{"x":450,"y":796,"width":22,"height":6}},{"id":"71b8290e-b251-490b-885f-9667b8f31f92","block_type":"box","text":"Holding","page_number":21,"box":{"x":58,"y":177,"width":43,"height":8}},{"id":"c69c35a6-f183-44ec-8063-49b61b632520","block_type":"box","text":"Investment","page_number":21,"box":{"x":129,"y":177,"width":63,"height":6}},{"id":"461e2bcf-9f1a-4094-a2e6-ff69d14e5c40","block_type":"box","text":"Mid-market","page_number":21,"box":{"x":337,"y":158,"width":65,"height":6}},{"id":"31522673-4e5b-4aa5-a021-bb5b5baa9683","block_type":"box","text":"value","page_number":21,"box":{"x":371,"y":168,"width":30,"height":6}},{"id":"52bfbf6c-b931-481c-bfd9-8e5084f29003","block_type":"box","text":"(£’000)","page_number":21,"box":{"x":364,"y":177,"width":37,"height":8}},{"id":"9a7fc17a-9c8c-43e1-8af5-4ba36dec51b4","block_type":"box","text":"Total net","page_number":21,"box":{"x":424,"y":168,"width":49,"height":6}},{"id":"ff955986-fd2c-44ef-a424-cf862768b48e","block_type":"box","text":"assets (%)","page_number":21,"box":{"x":414,"y":177,"width":59,"height":8}},{"id":"d717c27e-45dd-4ffe-ad21-1276fba9741e","block_type":"box","text":"Holding","page_number":21,"box":{"x":522,"y":177,"width":43,"height":8}},{"id":"60a6f3e7-c957-49e5-a664-aee1e923df30","block_type":"box","text":"Investment","page_number":21,"box":{"x":593,"y":177,"width":63,"height":6}},{"id":"3daf2fbe-9470-472b-a56a-c3d9579a9475","block_type":"box","text":"Mid-market","page_number":21,"box":{"x":802,"y":158,"width":64,"height":6}},{"id":"fd7cbddb-fcc5-4349-8855-e53834459049","block_type":"box","text":"value","page_number":21,"box":{"x":835,"y":168,"width":31,"height":6}},{"id":"9310c4cb-637b-41fa-b47f-74fbe06ca878","block_type":"box","text":"(£’000)","page_number":21,"box":{"x":828,"y":177,"width":38,"height":8}},{"id":"f2e6ec30-ce1e-4c74-afcb-325a23da9d05","block_type":"box","text":"Total net","page_number":21,"box":{"x":888,"y":168,"width":49,"height":6}},{"id":"5c623b58-510c-4468-a1bd-e4c252bf2def","block_type":"box","text":"assets (%)","page_number":21,"box":{"x":879,"y":177,"width":58,"height":8}},{"id":"005c1a4d-14d5-447c-b89d-5b0feffc9216","block_type":"box","text":"Forward Currency Contracts – 0.04% (31/12/25 – (0.03)%)","page_number":21,"box":{"x":522,"y":202,"width":322,"height":7}},{"id":"c8355a35-249b-422f-b0ca-351639569980","block_type":"box","text":"Buy AUD340,521 & Sell £180,522*","page_number":21,"box":{"x":593,"y":211,"width":180,"height":8}},{"id":"97815771-facc-4883-9ae7-a1297b26bec8","block_type":"box","text":"(3)","page_number":21,"box":{"x":854,"y":211,"width":13,"height":8}},{"id":"e7e849b5-77ff-441f-ac6f-b38acf41fd44","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":215,"width":7,"height":0}},{"id":"fb8d73c6-a762-45a0-b428-3e1ca77d6619","block_type":"box","text":"Buy €88,119 & Sell £76,282*","page_number":21,"box":{"x":593,"y":221,"width":148,"height":7}},{"id":"7f256375-14f6-4d6e-be74-0f439b527781","block_type":"box","text":"+","page_number":21,"box":{"x":742,"y":221,"width":4,"height":3}},{"id":"18f1361d-9f85-41cd-a8e8-c198dc64d46a","block_type":"box","text":"–","page_number":21,"box":{"x":857,"y":224,"width":7,"height":1}},{"id":"455f360c-5309-467b-88d7-6f0993659353","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":224,"width":7,"height":1}},{"id":"6f8a2851-3346-4b7e-8e19-fa40b4ded693","block_type":"box","text":"Buy £269,913 & Sell AUD512,720*","page_number":21,"box":{"x":593,"y":230,"width":180,"height":8}},{"id":"1a644475-0097-4590-8c46-dfd71fbfa7a5","block_type":"box","text":"3","page_number":21,"box":{"x":858,"y":230,"width":5,"height":6}},{"id":"bc11b381-8a28-4f5f-af99-777fdb3507ed","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":234,"width":7,"height":0}},{"id":"a0f20128-c1e0-4b72-b031-1b1a62d5f520","block_type":"box","text":"Buy £5,973 & Sell CAD11,210*","page_number":21,"box":{"x":593,"y":240,"width":160,"height":7}},{"id":"3cd9e265-d0f7-49c1-84ba-fd57386f40f7","block_type":"box","text":"+","page_number":21,"box":{"x":754,"y":240,"width":3,"height":3}},{"id":"555c6114-0797-439b-abc7-88a9106d016d","block_type":"box","text":"–","page_number":21,"box":{"x":857,"y":243,"width":7,"height":1}},{"id":"b9cdb700-9d2f-4e8d-8193-187ae7cdb2b6","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":243,"width":7,"height":1}},{"id":"a66ca767-5f37-4864-a445-c805b7ef2c4c","block_type":"box","text":"Buy £147,241 & Sell CHF156,568*","page_number":21,"box":{"x":593,"y":249,"width":180,"height":8}},{"id":"1935700f-51f4-4457-bb03-29306410b1d6","block_type":"box","text":"1","page_number":21,"box":{"x":859,"y":249,"width":3,"height":6}},{"id":"d9b15e36-6f1a-4a48-b41a-71f666088e3d","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":253,"width":7,"height":0}},{"id":"a7136f1e-fda6-47fb-88ac-6eddc4a36879","block_type":"box","text":"Buy £223,690 & Sell €257,896*","page_number":21,"box":{"x":593,"y":259,"width":162,"height":7}},{"id":"676a9ff3-1ce2-4679-b2bd-58611c21b938","block_type":"box","text":"1","page_number":21,"box":{"x":859,"y":259,"width":3,"height":6}},{"id":"583ec1c7-055f-440f-8b30-c9c2fe816339","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":262,"width":7,"height":1}},{"id":"ef03bc15-8306-4d30-93a0-4c9ec084c406","block_type":"box","text":"Buy £229,373 & Sell NOK2,934,091*","page_number":21,"box":{"x":593,"y":268,"width":191,"height":8}},{"id":"05ef19e6-62f0-433e-a173-fe3507422d92","block_type":"box","text":"6","page_number":21,"box":{"x":858,"y":268,"width":5,"height":6}},{"id":"732ed973-aff1-46a1-a70d-26dcf3c350dc","block_type":"box","text":"0.01","page_number":21,"box":{"x":914,"y":268,"width":20,"height":6}},{"id":"f0681b0a-76eb-4405-8bc1-04f2cf85e4b9","block_type":"box","text":"Buy £212,447 & Sell SEK2,674,616*","page_number":21,"box":{"x":593,"y":278,"width":189,"height":7}},{"id":"85453f5f-0d2b-45a0-a7d3-80628d3d0940","block_type":"box","text":"4","page_number":21,"box":{"x":857,"y":278,"width":6,"height":6}},{"id":"18fe0389-cfeb-48f7-af32-87007b9a9e87","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":281,"width":7,"height":1}},{"id":"c697232d-67ad-4b08-b745-95f9e36fbae0","block_type":"box","text":"Buy JPY26,402,499 & Sell £123,011*","page_number":21,"box":{"x":593,"y":287,"width":193,"height":8}},{"id":"eb6929f3-244b-4e53-8bed-f008e23a5037","block_type":"box","text":"+","page_number":21,"box":{"x":787,"y":288,"width":3,"height":2}},{"id":"5eebaa6d-a369-4c2d-9135-484102d25c2e","block_type":"box","text":"–","page_number":21,"box":{"x":857,"y":291,"width":7,"height":0}},{"id":"9d65c8f1-7f60-4c78-b2f5-155424fa85bf","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":291,"width":7,"height":0}},{"id":"003c3f8d-75b9-482a-bb6d-c61cb5448d92","block_type":"box","text":"Buy SEK1,333,044 & Sell £105,480*","page_number":21,"box":{"x":593,"y":297,"width":189,"height":7}},{"id":"5022c655-30da-48af-a4ac-da3e7ce46a17","block_type":"box","text":"(2)","page_number":21,"box":{"x":854,"y":297,"width":13,"height":7}},{"id":"05f55f80-5f19-492c-abff-c701d78f31cb","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":300,"width":7,"height":1}},{"id":"2b5a96d5-c18d-4339-a0e0-f049e6ff98a9","block_type":"box","text":"Buy SGD242,516 & Sell £141,287*","page_number":21,"box":{"x":593,"y":306,"width":181,"height":8}},{"id":"07c75d3b-86c2-407e-be39-547d8d06be2e","block_type":"box","text":"+","page_number":21,"box":{"x":775,"y":307,"width":3,"height":2}},{"id":"a9c1139d-7e02-4410-9cbb-d1702ca7ed1a","block_type":"box","text":"–","page_number":21,"box":{"x":857,"y":310,"width":7,"height":0}},{"id":"b4bf5098-1aba-413f-b469-4628af773753","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":310,"width":7,"height":0}},{"id":"96f726d1-a7f7-476a-be5e-8ca6afb37b1b","block_type":"box","text":"Buy $2,699,994 & Sell £2,012,977*","page_number":21,"box":{"x":593,"y":315,"width":182,"height":8}},{"id":"7f73aede-de2f-4822-b77b-56b070748a66","block_type":"box","text":"21","page_number":21,"box":{"x":851,"y":316,"width":11,"height":6}},{"id":"41c69cb6-d0af-4f31-92c5-cf389fbb3af1","block_type":"box","text":"0.03","page_number":21,"box":{"x":914,"y":316,"width":22,"height":6}},{"id":"e4e640a8-9e81-4671-b170-a7a1d2b67bb2","block_type":"box","text":"Total Forward Currency Contracts","page_number":21,"box":{"x":521,"y":332,"width":189,"height":8}},{"id":"32569295-02c1-447d-9ce7-fa19a07d356b","block_type":"box","text":"31","page_number":21,"box":{"x":851,"y":332,"width":11,"height":6}},{"id":"3f76fae1-6960-405d-b252-aace13190bb1","block_type":"box","text":"0.04","page_number":21,"box":{"x":914,"y":332,"width":22,"height":6}},{"id":"4a72f88b-878f-4118-a4f5-9709810bef04","block_type":"box","text":"Futures – 0.03% (31/12/25 – 0.05%)","page_number":21,"box":{"x":522,"y":348,"width":194,"height":8}},{"id":"51089b38-099b-4eb9-9c79-94f82f4dfded","block_type":"box","text":"(73)","page_number":21,"box":{"x":565,"y":358,"width":20,"height":7}},{"id":"dae72202-24b2-42f6-a225-a247e89805a1","block_type":"box","text":"CBT Bloomberg Commodity Index September","page_number":21,"box":{"x":593,"y":358,"width":239,"height":7}},{"id":"b731dc89-f968-4f88-bba1-a00b5f8dc9c5","block_type":"box","text":"2026","page_number":21,"box":{"x":593,"y":367,"width":25,"height":6}},{"id":"35a23384-fa22-49f1-91c7-a586bc9c05fc","block_type":"box","text":"17","page_number":21,"box":{"x":852,"y":367,"width":11,"height":6}},{"id":"73b48fec-acf9-4d4d-8a91-d05696be1ed5","block_type":"box","text":"0.02","page_number":21,"box":{"x":914,"y":367,"width":22,"height":6}},{"id":"a5c76911-bb09-4112-91e4-6f0290a0e539","block_type":"box","text":"(7)","page_number":21,"box":{"x":572,"y":377,"width":13,"height":7}},{"id":"5259467b-2fbe-43a7-b0a8-d787ad01c3bf","block_type":"box","text":"CBT US 10 Year Note (CBT) September 2026","page_number":21,"box":{"x":593,"y":377,"width":238,"height":7}},{"id":"1015c023-cf31-428d-a7c0-575b9542f650","block_type":"box","text":"(2)","page_number":21,"box":{"x":854,"y":377,"width":13,"height":7}},{"id":"0decf005-224d-4bad-b6fa-044ddb97c471","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":380,"width":7,"height":1}},{"id":"42f64c85-78a9-44b8-92d9-551049733a2a","block_type":"box","text":"(3)","page_number":21,"box":{"x":572,"y":386,"width":13,"height":8}},{"id":"de87e0c7-7a24-4c8f-90fe-8e2fa6d77d77","block_type":"box","text":"CME S&P500 E-Mini Consumer Services","page_number":21,"box":{"x":593,"y":386,"width":214,"height":6}},{"id":"84e1c016-c0b1-4363-b33d-4d06339034e3","block_type":"box","text":"September 2026","page_number":21,"box":{"x":593,"y":396,"width":86,"height":7}},{"id":"215803de-e18b-4aa2-93f6-00146bd5b33e","block_type":"box","text":"(2)","page_number":21,"box":{"x":854,"y":396,"width":13,"height":7}},{"id":"85bcef0a-9828-48e4-a99a-9a5f6cbb6123","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":399,"width":7,"height":1}},{"id":"9e3a8d78-f61b-451d-801f-9ba7a566f9f9","block_type":"box","text":"47","page_number":21,"box":{"x":572,"y":405,"width":13,"height":6}},{"id":"dec12a42-ac50-4f3b-b81c-4157b1e6e0eb","block_type":"box","text":"CME S&P500 E-Mini Future September 2026","page_number":21,"box":{"x":593,"y":405,"width":235,"height":8}},{"id":"0485a128-a6e3-4a94-822e-0b8297b79b7d","block_type":"box","text":"9","page_number":21,"box":{"x":858,"y":405,"width":5,"height":6}},{"id":"c37dd1ab-7a00-469e-92de-50d7b5c25345","block_type":"box","text":"0.01","page_number":21,"box":{"x":914,"y":405,"width":21,"height":6}},{"id":"81aeef4b-8802-4a6d-a8df-c5183218ef35","block_type":"box","text":"(1)","page_number":21,"box":{"x":572,"y":415,"width":13,"height":7}},{"id":"cbb43e81-e985-4bb0-b1c0-69464b089752","block_type":"box","text":"CME XAB Materials September 2026","page_number":21,"box":{"x":593,"y":415,"width":193,"height":7}},{"id":"b528a17c-04ac-40d2-a091-fb7e8e8e0545","block_type":"box","text":"1","page_number":21,"box":{"x":859,"y":415,"width":3,"height":6}},{"id":"e347561a-3e31-42f3-bc8e-ad57b1b13657","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":418,"width":7,"height":1}},{"id":"131b1941-f18c-476a-9a61-aa10ae8de6ca","block_type":"box","text":"(4)","page_number":21,"box":{"x":572,"y":424,"width":13,"height":8}},{"id":"c6bace66-b9a7-42fc-ac57-f28168d22b5e","block_type":"box","text":"CME XAE Consumer Energy September 2026","page_number":21,"box":{"x":593,"y":424,"width":240,"height":8}},{"id":"52142d13-1480-4c88-b03f-742974316e65","block_type":"box","text":"8","page_number":21,"box":{"x":858,"y":424,"width":5,"height":6}},{"id":"2b15dfe1-5e9a-4ea5-9b51-937ce0e2f813","block_type":"box","text":"0.01","page_number":21,"box":{"x":914,"y":424,"width":21,"height":6}},{"id":"d3fa8eae-8481-477d-96ea-b9e7da91c880","block_type":"box","text":"1","page_number":21,"box":{"x":580,"y":434,"width":3,"height":6}},{"id":"5573ff52-f8c9-4392-8394-03fc15ef4a91","block_type":"box","text":"CME XAF Financial September 2026","page_number":21,"box":{"x":593,"y":434,"width":192,"height":7}},{"id":"b40aa83d-6cea-4144-a50c-5f32c40fd3d7","block_type":"box","text":"+","page_number":21,"box":{"x":786,"y":434,"width":3,"height":3}},{"id":"70eae1f9-8465-46d1-8cf2-201c8f6766e3","block_type":"box","text":"–","page_number":21,"box":{"x":857,"y":437,"width":7,"height":1}},{"id":"8e4ae26d-5a74-471f-af8b-bc74c8257ae3","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":437,"width":7,"height":1}},{"id":"64df61db-57f6-49e1-9083-515092a0c89e","block_type":"box","text":"2","page_number":21,"box":{"x":579,"y":443,"width":6,"height":6}},{"id":"e524bdfb-1440-4d39-9261-46a9af16c8a1","block_type":"box","text":"CME XAK Technology September 2026","page_number":21,"box":{"x":593,"y":443,"width":204,"height":8}},{"id":"efc2af40-d63b-4300-aa0c-8a427d52e825","block_type":"box","text":"(3)","page_number":21,"box":{"x":854,"y":443,"width":13,"height":8}},{"id":"2d7e63b5-08bf-41bb-9c20-2cc62173ef3e","block_type":"box","text":"(0.01)","page_number":21,"box":{"x":911,"y":443,"width":29,"height":8}},{"id":"6de5765e-61cd-4056-a8e1-57b9ad488d2a","block_type":"box","text":"1","page_number":21,"box":{"x":580,"y":453,"width":3,"height":6}},{"id":"e006f3b0-7bfd-40a1-88bc-32248164ad7b","block_type":"box","text":"CME XAP Consumer Staples September 2026","page_number":21,"box":{"x":593,"y":453,"width":242,"height":7}},{"id":"1958e79c-c6a7-4afc-80b4-561ba59eb676","block_type":"box","text":"(1)","page_number":21,"box":{"x":854,"y":453,"width":13,"height":7}},{"id":"9dd8df4b-3248-436f-81bb-423d6162f654","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":456,"width":7,"height":1}},{"id":"55a9e6f2-ab51-411a-8e72-30ec1167f524","block_type":"box","text":"7","page_number":21,"box":{"x":579,"y":462,"width":6,"height":6}},{"id":"bc4f2caa-048e-4579-93c6-9686234b4825","block_type":"box","text":"CME XAU Utilities September 2026","page_number":21,"box":{"x":593,"y":462,"width":184,"height":8}},{"id":"7b848997-bba3-4800-be7f-6c75879b6d9d","block_type":"box","text":"(11)","page_number":21,"box":{"x":848,"y":462,"width":19,"height":8}},{"id":"370a0a4d-a19d-4b3f-b3a9-8af0558072d5","block_type":"box","text":"(0.01)","page_number":21,"box":{"x":911,"y":462,"width":29,"height":8}},{"id":"112a29fe-f2bd-4b4d-b179-cffbeebc21c6","block_type":"box","text":"2","page_number":21,"box":{"x":579,"y":472,"width":6,"height":6}},{"id":"7ae59869-42f3-4a96-bd40-49de13c160c0","block_type":"box","text":"CME XAV Health Care September 2026","page_number":21,"box":{"x":593,"y":472,"width":207,"height":7}},{"id":"2132cc2f-82bb-4f3e-aade-c7535c5a54d0","block_type":"box","text":"9","page_number":21,"box":{"x":858,"y":472,"width":5,"height":6}},{"id":"0a660600-82dd-420f-b97c-2447d2279c09","block_type":"box","text":"0.01","page_number":21,"box":{"x":914,"y":472,"width":21,"height":6}},{"id":"7a4c26bd-1b2e-42f2-af41-56f082c1b011","block_type":"box","text":"(3)","page_number":21,"box":{"x":572,"y":481,"width":13,"height":8}},{"id":"bd265c65-b69b-4283-82f4-6614ce5e35b3","block_type":"box","text":"CME XAY Consumer Discretionary Future","page_number":21,"box":{"x":593,"y":481,"width":217,"height":8}},{"id":"db07bbf6-322e-4542-b091-2c9a1ac0d378","block_type":"box","text":"September 2026","page_number":21,"box":{"x":593,"y":491,"width":86,"height":7}},{"id":"0ec3fca1-39cc-4251-be5b-3d0a430b5fc0","block_type":"box","text":"(7)","page_number":21,"box":{"x":854,"y":491,"width":13,"height":7}},{"id":"26e7cd07-89ba-49e3-a980-16245ea2295c","block_type":"box","text":"(0.01)","page_number":21,"box":{"x":911,"y":491,"width":29,"height":7}},{"id":"8fb7c25a-24c9-4b8c-a919-1be9737b42eb","block_type":"box","text":"(5)","page_number":21,"box":{"x":572,"y":500,"width":13,"height":8}},{"id":"072ae454-85fa-484e-b7a8-416c2e98cf9c","block_type":"box","text":"EUX Euro-Bund Future September 2026","page_number":21,"box":{"x":593,"y":500,"width":210,"height":8}},{"id":"6cacef1b-8ac6-4f02-b61d-1a3bf4c3ccbf","block_type":"box","text":"(6)","page_number":21,"box":{"x":854,"y":500,"width":13,"height":8}},{"id":"641b4ee4-c3a1-479f-a2cd-cd3c846fdb22","block_type":"box","text":"(0.01)","page_number":21,"box":{"x":911,"y":500,"width":29,"height":8}},{"id":"68efec8f-bccc-4cb8-bb39-175aefc8bc78","block_type":"box","text":"19","page_number":21,"box":{"x":573,"y":510,"width":12,"height":6}},{"id":"187192a3-ff0e-4898-a778-12aef5916571","block_type":"box","text":"EUX Euro Stoxx 50 Future September 2026","page_number":21,"box":{"x":593,"y":510,"width":228,"height":7}},{"id":"54c7d06a-026f-477d-bbce-2374e00d7c58","block_type":"box","text":"15","page_number":21,"box":{"x":852,"y":510,"width":11,"height":6}},{"id":"5236d378-56ee-4cb6-87a2-c387faa859d7","block_type":"box","text":"0.02","page_number":21,"box":{"x":914,"y":510,"width":22,"height":6}},{"id":"043d28b5-37e9-4fc0-b5e2-833e901f3d65","block_type":"box","text":"(14)","page_number":21,"box":{"x":565,"y":519,"width":20,"height":8}},{"id":"d18aee83-a45d-4f37-833d-56b2ea59bbf8","block_type":"box","text":"HKG Hang Seng Index Future July 2026","page_number":21,"box":{"x":593,"y":519,"width":209,"height":8}},{"id":"6e479ece-5706-48ba-b6c8-679636c11cda","block_type":"box","text":"7","page_number":21,"box":{"x":858,"y":519,"width":5,"height":6}},{"id":"bd6c76bc-66b3-4b19-8cf6-f0c6d082d6a4","block_type":"box","text":"0.01","page_number":21,"box":{"x":914,"y":519,"width":21,"height":6}},{"id":"1b86bd99-79c1-4e28-820b-c665690d9140","block_type":"box","text":"(2)","page_number":21,"box":{"x":572,"y":529,"width":13,"height":7}},{"id":"5aa358f0-61a9-48de-8275-6e5455df0578","block_type":"box","text":"ICF FTSE 100 Index Future September 2026","page_number":21,"box":{"x":593,"y":529,"width":233,"height":7}},{"id":"2b612720-99c6-4e7e-b019-43fa1cbdef44","block_type":"box","text":"(2)","page_number":21,"box":{"x":854,"y":529,"width":13,"height":7}},{"id":"e7b4c9a7-c010-48d1-a17c-14b892ff8c02","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":532,"width":7,"height":1}},{"id":"e09f3bd9-4cbd-4527-8723-d958adc04527","block_type":"box","text":"(7)","page_number":21,"box":{"x":572,"y":538,"width":13,"height":8}},{"id":"c003ddb7-7444-4731-a96a-fd60de401855","block_type":"box","text":"ICF Long Gilt Future September 2026","page_number":21,"box":{"x":593,"y":538,"width":196,"height":8}},{"id":"c8cd0184-fb3d-4c00-a64f-236afd7332a7","block_type":"box","text":"(9)","page_number":21,"box":{"x":854,"y":538,"width":13,"height":8}},{"id":"6acb3574-3cd0-45d2-8d45-3d96fbee0549","block_type":"box","text":"(0.01)","page_number":21,"box":{"x":911,"y":538,"width":29,"height":8}},{"id":"ff57d046-8e8d-4f1e-8dd7-4ebed039556e","block_type":"box","text":"19","page_number":21,"box":{"x":573,"y":548,"width":12,"height":6}},{"id":"e8ca8cbc-14af-481c-86af-a22cb4d9b7e2","block_type":"box","text":"NYF MSCI Emerging Market September 2026","page_number":21,"box":{"x":593,"y":548,"width":238,"height":7}},{"id":"6a79027b-71e9-4bf8-9aab-c28ced7dd42b","block_type":"box","text":"(25)","page_number":21,"box":{"x":848,"y":548,"width":19,"height":7}},{"id":"45be5f10-151b-49a4-9214-3f1ae6275973","block_type":"box","text":"(0.03)","page_number":21,"box":{"x":911,"y":548,"width":29,"height":7}},{"id":"bf1126a9-9937-4541-8d24-7394e15bccfd","block_type":"box","text":"36","page_number":21,"box":{"x":573,"y":557,"width":12,"height":6}},{"id":"7e01a5e9-0ecf-4b51-8f01-46873ec658f3","block_type":"box","text":"OSE Mini Topix Index Future September 2026","page_number":21,"box":{"x":593,"y":557,"width":238,"height":8}},{"id":"7227fc6d-7eaa-412d-b587-0a265a0a900c","block_type":"box","text":"5","page_number":21,"box":{"x":858,"y":557,"width":5,"height":6}},{"id":"f798ca10-0ede-4672-85e7-fed8fcc8d6ad","block_type":"box","text":"–","page_number":21,"box":{"x":930,"y":561,"width":7,"height":0}},{"id":"f0d76f93-bd02-451f-b330-224dad373626","block_type":"box","text":"20","page_number":21,"box":{"x":572,"y":567,"width":13,"height":6}},{"id":"695b66de-522a-426f-be74-58da69f3a425","block_type":"box","text":"OSE Nikkei 225 Mini September 2026","page_number":21,"box":{"x":593,"y":567,"width":197,"height":7}},{"id":"62910e1d-20d2-401a-a156-339cf5500739","block_type":"box","text":"18","page_number":21,"box":{"x":852,"y":567,"width":11,"height":6}},{"id":"aca5e3d2-0420-4344-a255-fdddfd5c3129","block_type":"box","text":"0.02","page_number":21,"box":{"x":914,"y":567,"width":22,"height":6}},{"id":"3700cc49-93e1-43aa-8479-fc2e8d17653e","block_type":"box","text":"(6)","page_number":21,"box":{"x":572,"y":576,"width":13,"height":8}},{"id":"e6660257-2379-4898-8629-c24dd1186967","block_type":"box","text":"SFE SPI 200 Future September 2026","page_number":21,"box":{"x":593,"y":576,"width":194,"height":8}},{"id":"de49c21a-9c57-4bc0-8897-cc4abafcd6fc","block_type":"box","text":"8","page_number":21,"box":{"x":858,"y":576,"width":5,"height":6}},{"id":"6ddcde12-4bf0-407e-abce-1ab77178dd8a","block_type":"box","text":"0.01","page_number":21,"box":{"x":914,"y":576,"width":21,"height":6}},{"id":"82e44ff4-27d2-42d2-9c36-f0e2a3806adb","block_type":"box","text":"Total Futures","page_number":21,"box":{"x":521,"y":592,"width":73,"height":6}},{"id":"c3ca0d05-e819-4283-be82-5e2b7d4a7f37","block_type":"box","text":"29","page_number":21,"box":{"x":851,"y":592,"width":12,"height":6}},{"id":"0d9d7691-f92b-400e-9ef2-302372bd8ad6","block_type":"box","text":"0.03","page_number":21,"box":{"x":914,"y":592,"width":22,"height":6}},{"id":"ece3b0d9-0ffe-4d30-b7ca-29605bce9e6a","block_type":"box","text":"Total value of investments","page_number":21,"box":{"x":521,"y":634,"width":146,"height":6}},{"id":"6f3cc6dc-7d83-42d9-8a01-fabd099ce5ed","block_type":"box","text":"^","page_number":21,"box":{"x":668,"y":634,"width":3,"height":2}},{"id":"9d217f78-0349-4d6a-bdcb-1b6ddfa3035b","block_type":"box","text":"83,383","page_number":21,"box":{"x":828,"y":634,"width":35,"height":8}},{"id":"e8af9be9-594b-489b-8391-0f22c48e0f66","block_type":"box","text":"98.86","page_number":21,"box":{"x":908,"y":634,"width":28,"height":6}},{"id":"d14c387f-0ff3-4461-a562-d1a4a6f352c8","block_type":"box","text":"Net other assets","page_number":21,"box":{"x":522,"y":651,"width":90,"height":6}},{"id":"d343e73d-f795-4246-834b-d56d6c27d9ae","block_type":"box","text":"961","page_number":21,"box":{"x":845,"y":651,"width":17,"height":6}},{"id":"12bfe44a-f28a-4d3d-92cf-8cd51f2605c5","block_type":"box","text":"1.14","page_number":21,"box":{"x":915,"y":651,"width":21,"height":6}},{"id":"db5eaa7c-792c-4f96-85c4-c8449be6037d","block_type":"box","text":"Total net assets","page_number":21,"box":{"x":521,"y":667,"width":87,"height":6}},{"id":"aea55002-9db9-4794-9131-1260a9e4c30a","block_type":"box","text":"84,344","page_number":21,"box":{"x":828,"y":667,"width":36,"height":7}},{"id":"e4ceccf3-a8ba-49fd-b1c3-6f167543390e","block_type":"box","text":"100.00","page_number":21,"box":{"x":902,"y":667,"width":34,"height":6}},{"id":"53847b1a-62c6-498c-96c3-0129161054d3","block_type":"box","text":"†","page_number":21,"box":{"x":521,"y":684,"width":4,"height":5}},{"id":"052e3c2b-889d-425d-8418-94967ed8685e","block_type":"box","text":"Related Party","page_number":21,"box":{"x":529,"y":684,"width":72,"height":8}},{"id":"6ead289c-da41-4997-930a-5b63abe4da72","block_type":"box","text":"* Unlisted","page_number":21,"box":{"x":521,"y":698,"width":51,"height":6}},{"id":"3d70f4cd-669e-449b-83e9-249d86d869b1","block_type":"box","text":"+","page_number":21,"box":{"x":521,"y":713,"width":4,"height":2}},{"id":"810c4da2-5dee-44ae-9fc6-7ff4b289e914","block_type":"box","text":"Value less than £1,000","page_number":21,"box":{"x":528,"y":712,"width":122,"height":8}},{"id":"3cd187ae-041c-4f02-b715-1d18b2e3692c","block_type":"box","text":"^","page_number":21,"box":{"x":521,"y":726,"width":3,"height":2}},{"id":"69032195-a8b0-4735-9672-0c4e80cd98f9","block_type":"box","text":"Including investment liabilities","page_number":21,"box":{"x":529,"y":726,"width":157,"height":8}},{"id":"936dc489-46b7-4208-a260-4e131cd6c831","block_type":"box","text":"All investments, except collective investment schemes and forward currency","page_number":21,"box":{"x":521,"y":740,"width":421,"height":8}},{"id":"898ddfab-0661-4472-aa20-1e533ed64259","block_type":"box","text":"contracts, are listed on recognised stock exchanges and are “approved","page_number":21,"box":{"x":521,"y":751,"width":420,"height":8}},{"id":"4bb8eb7e-e12f-4438-8877-870147b7d46a","block_type":"box","text":"securities” within the meaning of the FCA rules unless otherwise stated.","page_number":21,"box":{"x":521,"y":762,"width":381,"height":8}},{"id":"32195314-8075-4a19-b834-45c8387a836d","block_type":"box","text":"Royal London GMAP Defensive Fund | Royal London Multi-Asset Funds ICVC","page_number":21,"box":{"x":500,"y":33,"width":413,"height":8}},{"id":"42d61a78-5f55-4dcb-9456-17b0992b2f6b","block_type":"box","text":"21","page_number":21,"box":{"x":930,"y":33,"width":10,"height":6}},{"id":"696f210e-926c-4b96-9e5a-d22275fd6c09","block_type":"box","text":"Summary of Material Portfolio Changes","page_number":22,"box":{"x":57,"y":94,"width":470,"height":14}},{"id":"b8e1ae1d-6544-4fc3-9cd1-d7a35961271c","block_type":"box","text":"For the six month period ended 30","page_number":22,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"76a587a6-058a-450b-9dbd-e763c84dbb23","block_type":"box","text":"June 2026","page_number":22,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"37ba658f-593e-43fd-a4ba-c70d869dc5d2","block_type":"box","text":"Significant Purchases","page_number":22,"box":{"x":57,"y":151,"width":203,"height":11}},{"id":"d29a2f58-60d3-48ea-8c9d-d8c7456863f4","block_type":"box","text":"Cost","page_number":22,"box":{"x":447,"y":177,"width":26,"height":6}},{"id":"34bcf9d3-3417-40a3-b6c2-400144641538","block_type":"box","text":"£’000","page_number":22,"box":{"x":443,"y":186,"width":30,"height":6}},{"id":"c35a4632-3a28-472a-9a92-b644f8c98721","block_type":"box","text":"Royal London International Government Bond Fund R Acc","page_number":22,"box":{"x":58,"y":205,"width":309,"height":7}},{"id":"d23c322c-3181-427e-b615-03f032651ab2","block_type":"box","text":"2,261","page_number":22,"box":{"x":444,"y":205,"width":27,"height":7}},{"id":"95260f82-2682-458a-b16a-dad582be068e","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":22,"box":{"x":58,"y":222,"width":214,"height":8}},{"id":"cea20903-7da9-4676-a8c7-0d9a399b9f79","block_type":"box","text":"2,132","page_number":22,"box":{"x":445,"y":222,"width":28,"height":7}},{"id":"9fab8c4a-9478-470e-b3e2-0b5d1994504f","block_type":"box","text":"Invesco Physical Gold ETC","page_number":22,"box":{"x":58,"y":240,"width":144,"height":7}},{"id":"8e54f817-3518-4ae1-b28d-dcb1d8bf3204","block_type":"box","text":"1,789","page_number":22,"box":{"x":445,"y":240,"width":28,"height":7}},{"id":"2573d8b0-5e3f-4d5b-adaa-9e1aa6c310b7","block_type":"box","text":"Wisdomtree Enhanced C ETF","page_number":22,"box":{"x":57,"y":257,"width":159,"height":6}},{"id":"b368eb72-1fb3-4a08-8834-11aae78921c0","block_type":"box","text":"1,139","page_number":22,"box":{"x":446,"y":257,"width":27,"height":7}},{"id":"e207ae95-0bfe-4cd3-9b7a-c6703dfedac9","block_type":"box","text":"Royal London Global Senior ABS Fund R Acc","page_number":22,"box":{"x":58,"y":275,"width":242,"height":7}},{"id":"2f84a82f-fb55-45f6-b99b-4c1a8cfcb61d","block_type":"box","text":"1,119","page_number":22,"box":{"x":447,"y":275,"width":26,"height":7}},{"id":"4b2afdc6-ca62-454e-86af-6912a913c34b","block_type":"box","text":"Royal London UK Government Bond Fund R Acc","page_number":22,"box":{"x":58,"y":292,"width":259,"height":8}},{"id":"764e30f6-0639-47df-8155-63155babbf6c","block_type":"box","text":"912","page_number":22,"box":{"x":455,"y":292,"width":18,"height":6}},{"id":"55eb08b2-6b49-454a-97b9-3a08ebf3cd75","block_type":"box","text":"iShares Physical Gold ETC","page_number":22,"box":{"x":57,"y":310,"width":144,"height":7}},{"id":"315eeb55-973d-46f4-8ffc-ae219e2d083a","block_type":"box","text":"896","page_number":22,"box":{"x":453,"y":310,"width":20,"height":6}},{"id":"bfb4d3a4-a12c-4bd4-a288-36014d910af2","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":22,"box":{"x":58,"y":327,"width":295,"height":8}},{"id":"bf0a04f7-70c3-4a04-9079-09d3013c3271","block_type":"box","text":"747","page_number":22,"box":{"x":455,"y":327,"width":18,"height":6}},{"id":"69336626-13b3-4f11-852e-23d8a87c027a","block_type":"box","text":"Royal London Global Equity Diversified Fund R Acc","page_number":22,"box":{"x":58,"y":345,"width":273,"height":7}},{"id":"7ba25823-8714-4999-ae3b-13ab71d11add","block_type":"box","text":"373","page_number":22,"box":{"x":454,"y":345,"width":19,"height":6}},{"id":"86faf23e-05a9-4a08-9c51-168c6eede5d0","block_type":"box","text":"Royal London Global Equity Enhanced Fund R Acc","page_number":22,"box":{"x":58,"y":362,"width":270,"height":8}},{"id":"37056962-20ca-4b08-af64-2bec8a51dd12","block_type":"box","text":"365","page_number":22,"box":{"x":454,"y":362,"width":19,"height":6}},{"id":"b1d6f8f3-0cbd-4152-9c41-6e0587403411","block_type":"box","text":"Subtotal","page_number":22,"box":{"x":57,"y":380,"width":48,"height":6}},{"id":"5b18cd55-797b-4517-bf17-3a13464b761b","block_type":"box","text":"11,733","page_number":22,"box":{"x":439,"y":380,"width":34,"height":7}},{"id":"f5b0db6a-9fae-43be-94f3-db67832d0768","block_type":"box","text":"Total cost of purchases, including the above, for the period","page_number":22,"box":{"x":57,"y":397,"width":339,"height":8}},{"id":"83b1d03c-a518-4e95-bcd3-5f23f3fb1735","block_type":"box","text":"14,244","page_number":22,"box":{"x":437,"y":397,"width":36,"height":8}},{"id":"d676f18f-cf41-4457-b70f-75b512df49de","block_type":"box","text":"Significant Sales","page_number":22,"box":{"x":522,"y":151,"width":156,"height":11}},{"id":"710e7237-ef82-4caa-845e-3d82ce8eb841","block_type":"box","text":"Proceeds","page_number":22,"box":{"x":884,"y":177,"width":53,"height":6}},{"id":"9468e4b5-eec8-4c3c-93cb-618ace42292e","block_type":"box","text":"£’000","page_number":22,"box":{"x":907,"y":186,"width":30,"height":6}},{"id":"88ea7f97-6a28-4c61-860c-e396e7c9f3e3","block_type":"box","text":"Royal London Short-Term Money Market Fund R Acc","page_number":22,"box":{"x":522,"y":205,"width":281,"height":7}},{"id":"fd47eec2-790f-44e7-b1f1-6e5ea066c193","block_type":"box","text":"3,141","page_number":22,"box":{"x":910,"y":205,"width":25,"height":7}},{"id":"05209bd4-9704-4710-96cb-00f04c89847f","block_type":"box","text":"Invesco Physical Gold ETC","page_number":22,"box":{"x":522,"y":222,"width":144,"height":8}},{"id":"fdaa9db4-8689-4ac6-8365-98ec39665f06","block_type":"box","text":"2,465","page_number":22,"box":{"x":908,"y":222,"width":29,"height":7}},{"id":"f7aee5f5-60d8-4b30-85f1-3b12be052b4e","block_type":"box","text":"Royal London Global High Yield Bond Fund R Acc","page_number":22,"box":{"x":522,"y":240,"width":266,"height":7}},{"id":"c9ca2a55-ee61-45db-b366-d1f817e3f0a9","block_type":"box","text":"2,218","page_number":22,"box":{"x":908,"y":240,"width":29,"height":7}},{"id":"3fedb213-28c9-4889-aacb-e6df170e1e8c","block_type":"box","text":"Royal London Short Duration Gilts Fund R Acc","page_number":22,"box":{"x":522,"y":257,"width":247,"height":8}},{"id":"2b10d135-62b7-4754-b722-2402fb6628e1","block_type":"box","text":"2,189","page_number":22,"box":{"x":909,"y":257,"width":28,"height":7}},{"id":"c82738d4-96e4-4127-938e-a12035f47e45","block_type":"box","text":"iShares Physical Gold ETC","page_number":22,"box":{"x":522,"y":275,"width":144,"height":7}},{"id":"97baac3d-cb08-4640-9042-ca0b4cf7af7a","block_type":"box","text":"1,602","page_number":22,"box":{"x":909,"y":275,"width":28,"height":7}},{"id":"86182527-d869-4b32-8766-51f0ae2a4053","block_type":"box","text":"iShares Bloomberg Roll Select Commodity Swap UCITS ETF","page_number":22,"box":{"x":522,"y":292,"width":325,"height":8}},{"id":"94ef2298-9221-452e-a232-8fce53e0f884","block_type":"box","text":"1,566","page_number":22,"box":{"x":909,"y":292,"width":28,"height":7}},{"id":"5b993b52-d848-4c58-807a-7cc64595d38f","block_type":"box","text":"Royal London Investment Grade Short Dated Credit Fund R Acc","page_number":22,"box":{"x":522,"y":310,"width":340,"height":7}},{"id":"50827200-ea60-4d16-b211-1ca191822a31","block_type":"box","text":"1,151","page_number":22,"box":{"x":911,"y":310,"width":24,"height":7}},{"id":"d5eea6ea-8064-40ae-8d28-c2f1c33966d6","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":22,"box":{"x":522,"y":327,"width":295,"height":8}},{"id":"1d56a3ab-a435-4ce9-ac0d-5ed08c0dcb76","block_type":"box","text":"396","page_number":22,"box":{"x":918,"y":327,"width":19,"height":6}},{"id":"2ba2fff8-82d3-4f75-aad8-efa3e62dedad","block_type":"box","text":"Royal London UK Government Bond Fund R Acc","page_number":22,"box":{"x":522,"y":345,"width":259,"height":7}},{"id":"f1224254-18a8-447f-be7c-9b362c0c7d3a","block_type":"box","text":"392","page_number":22,"box":{"x":918,"y":345,"width":19,"height":6}},{"id":"9d24ef1b-9a82-4757-a4e0-916a2ea92089","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":22,"box":{"x":522,"y":362,"width":250,"height":8}},{"id":"5ba56aee-db74-4267-b977-f1a79e981f2f","block_type":"box","text":"306","page_number":22,"box":{"x":918,"y":362,"width":19,"height":6}},{"id":"86950a66-42c4-42de-ac3c-5440842f2202","block_type":"box","text":"Subtotal","page_number":22,"box":{"x":521,"y":380,"width":48,"height":6}},{"id":"6ec137ac-b445-43aa-ad11-211255ba6255","block_type":"box","text":"15,426","page_number":22,"box":{"x":902,"y":380,"width":35,"height":7}},{"id":"c25823e7-e73a-41f6-a385-d4dd894b605c","block_type":"box","text":"Total proceeds from sales, including the above, for the period","page_number":22,"box":{"x":521,"y":397,"width":347,"height":8}},{"id":"6a4d4d20-226b-4f59-974c-bd6f21b0ba14","block_type":"box","text":"16,658","page_number":22,"box":{"x":902,"y":397,"width":35,"height":8}},{"id":"e75fe2dd-4c41-4550-94a6-fbf93e25d348","block_type":"box","text":"Royal London GMAP Defensive Fund | Royal London Multi-Asset Funds ICVC","page_number":22,"box":{"x":500,"y":33,"width":413,"height":8}},{"id":"3d769238-7104-4c00-a73f-018ecf436e6c","block_type":"box","text":"22","page_number":22,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"83d6293f-fda2-4a8f-8566-5e7c9478a833","block_type":"box","text":"Financial Statements","page_number":23,"box":{"x":58,"y":94,"width":253,"height":11}},{"id":"1439fc97-9762-4353-9e35-c66ac01fd2df","block_type":"box","text":"Statement of Total Return","page_number":23,"box":{"x":57,"y":151,"width":241,"height":9}},{"id":"299d479a-523d-4765-abfb-708d6cf30ba5","block_type":"box","text":"For the six month period ended 30","page_number":23,"box":{"x":58,"y":169,"width":231,"height":10}},{"id":"f977a8d1-326d-444d-a8b8-3123a6ce73a3","block_type":"box","text":"June 2026","page_number":23,"box":{"x":294,"y":169,"width":70,"height":8}},{"id":"9d07acc6-dc08-4eab-8a9c-f485c9227e8b","block_type":"box","text":"30 Jun 2026","page_number":23,"box":{"x":264,"y":198,"width":66,"height":6}},{"id":"c0aa407e-039d-42ac-ad1c-d93099b0c137","block_type":"box","text":"30 Jun 2025","page_number":23,"box":{"x":407,"y":198,"width":66,"height":6}},{"id":"775cb68f-c64e-4efe-81c2-c85b29287076","block_type":"box","text":"£’000","page_number":23,"box":{"x":229,"y":207,"width":29,"height":6}},{"id":"52d637f5-b726-4c8c-8776-65bf4aef4de7","block_type":"box","text":"£’000","page_number":23,"box":{"x":300,"y":207,"width":30,"height":6}},{"id":"9a030db5-a992-46bf-b88a-89ad87fcc03d","block_type":"box","text":"£’000","page_number":23,"box":{"x":371,"y":207,"width":30,"height":6}},{"id":"d74dc6b8-4264-4523-af35-1147e63a3034","block_type":"box","text":"£’000","page_number":23,"box":{"x":443,"y":207,"width":30,"height":6}},{"id":"4c47c815-e468-4b90-befd-76485a0f76e5","block_type":"box","text":"Income","page_number":23,"box":{"x":58,"y":226,"width":38,"height":6}},{"id":"9252f589-169b-47ec-b94e-a573374c8393","block_type":"box","text":"Net capital gains","page_number":23,"box":{"x":69,"y":243,"width":88,"height":8}},{"id":"730bb532-07d7-43b2-8bd8-3e2d2caa3ea0","block_type":"box","text":"2,468","page_number":23,"box":{"x":300,"y":243,"width":30,"height":8}},{"id":"a724de94-6654-4a80-9a60-e49257b1c5bd","block_type":"box","text":"423","page_number":23,"box":{"x":454,"y":243,"width":19,"height":6}},{"id":"546eaadd-e068-40b1-9e49-41055186f028","block_type":"box","text":"Revenue","page_number":23,"box":{"x":69,"y":261,"width":47,"height":6}},{"id":"b4cdaea3-b591-4364-814a-d616ca6ef3a3","block_type":"box","text":"1,157","page_number":23,"box":{"x":232,"y":261,"width":26,"height":7}},{"id":"9461bb25-f790-464b-bfaa-6ac5f1ffaa22","block_type":"box","text":"1,183","page_number":23,"box":{"x":375,"y":261,"width":26,"height":7}},{"id":"1b63f4f7-6aab-49d8-8410-71b110c7d486","block_type":"box","text":"Expenses","page_number":23,"box":{"x":58,"y":278,"width":51,"height":8}},{"id":"8a34515f-8e00-4e23-ab15-ec9a0b62f044","block_type":"box","text":"(179)","page_number":23,"box":{"x":237,"y":278,"width":26,"height":8}},{"id":"13fd461d-9f77-4f75-a379-262407f78724","block_type":"box","text":"(173)","page_number":23,"box":{"x":380,"y":278,"width":25,"height":8}},{"id":"42284514-bada-4b87-b789-031132b9bf08","block_type":"box","text":"Net revenue before","page_number":23,"box":{"x":58,"y":296,"width":101,"height":6}},{"id":"803451ea-f50e-4c01-ba7e-4a65f3821a52","block_type":"box","text":"taxation","page_number":23,"box":{"x":57,"y":305,"width":42,"height":6}},{"id":"f429b4c6-6233-42dc-9c4a-bc1d0afdbafa","block_type":"box","text":"978","page_number":23,"box":{"x":240,"y":296,"width":19,"height":6}},{"id":"b18bebca-b335-4b68-8246-86288f362caa","block_type":"box","text":"1,010","page_number":23,"box":{"x":374,"y":296,"width":27,"height":7}},{"id":"36719d2d-4d62-4876-81c9-24c02abd5a5f","block_type":"box","text":"Taxation","page_number":23,"box":{"x":57,"y":323,"width":44,"height":6}},{"id":"7f71f656-31a5-4707-bbeb-1977361730d9","block_type":"box","text":"(186)","page_number":23,"box":{"x":237,"y":323,"width":26,"height":8}},{"id":"ddbe9103-1ebf-4a69-9496-669dbc49f8c8","block_type":"box","text":"(195)","page_number":23,"box":{"x":379,"y":323,"width":26,"height":8}},{"id":"57fc7b3e-f9d2-47e4-8d11-024ffc721857","block_type":"box","text":"Net revenue after","page_number":23,"box":{"x":58,"y":340,"width":92,"height":6}},{"id":"732fe760-a486-42f7-b703-0615f7484160","block_type":"box","text":"taxation","page_number":23,"box":{"x":57,"y":350,"width":42,"height":6}},{"id":"038bfc17-9d38-41f5-939d-d101199ace1a","block_type":"box","text":"792","page_number":23,"box":{"x":311,"y":340,"width":19,"height":6}},{"id":"6c9509e1-7f32-4de1-b8f8-4b6e6826eab4","block_type":"box","text":"815","page_number":23,"box":{"x":455,"y":340,"width":18,"height":6}},{"id":"0fa71d18-1e64-4cdd-8a7e-0b42a174f195","block_type":"box","text":"Total return before","page_number":23,"box":{"x":57,"y":367,"width":98,"height":6}},{"id":"2e71c213-e41e-45fd-924c-0e02780582ec","block_type":"box","text":"distributions","page_number":23,"box":{"x":57,"y":377,"width":64,"height":6}},{"id":"7991731f-908e-4724-af06-d66078434f40","block_type":"box","text":"3,260","page_number":23,"box":{"x":300,"y":367,"width":30,"height":8}},{"id":"eb37e053-3512-43ed-a5da-f1a04746c4cf","block_type":"box","text":"1,238","page_number":23,"box":{"x":445,"y":367,"width":28,"height":8}},{"id":"7d232708-0d37-45b1-88e3-be892fd6994e","block_type":"box","text":"Distributions","page_number":23,"box":{"x":58,"y":394,"width":65,"height":6}},{"id":"78681ab1-b828-445e-af94-bf0a2b95e3d3","block_type":"box","text":"(797)","page_number":23,"box":{"x":307,"y":394,"width":27,"height":8}},{"id":"068ba3e9-4239-4042-b509-476cd36e9b04","block_type":"box","text":"(790)","page_number":23,"box":{"x":450,"y":394,"width":27,"height":8}},{"id":"3321d844-e5a1-44b1-9552-eaea61b80bbd","block_type":"box","text":"Change in net assets","page_number":23,"box":{"x":57,"y":412,"width":120,"height":8}},{"id":"674ad1ce-f79f-4407-a081-5249ebacfea4","block_type":"box","text":"attributable to","page_number":23,"box":{"x":57,"y":421,"width":81,"height":6}},{"id":"2d06c8e3-5c10-480d-a85d-5cf9cf93fba3","block_type":"box","text":"shareholders from","page_number":23,"box":{"x":57,"y":431,"width":106,"height":6}},{"id":"4f241ff2-806a-46a2-b2d5-8aaedabb0dcc","block_type":"box","text":"investment activities","page_number":23,"box":{"x":57,"y":440,"width":119,"height":6}},{"id":"5ccbfcfa-6085-4a02-936e-d27a9a8c8c1e","block_type":"box","text":"2,463","page_number":23,"box":{"x":300,"y":412,"width":30,"height":7}},{"id":"3fdd3b65-e239-457f-a930-c069b0044ec0","block_type":"box","text":"448","page_number":23,"box":{"x":453,"y":412,"width":20,"height":6}},{"id":"08729e33-29a6-45f1-961b-8c73507f8781","block_type":"box","text":"Statement of Change in Net Assets","page_number":23,"box":{"x":57,"y":486,"width":332,"height":11}},{"id":"7b351800-10df-4b12-94f9-bca22decd326","block_type":"box","text":"Attributable to Shareholders","page_number":23,"box":{"x":57,"y":500,"width":265,"height":9}},{"id":"9b5b9603-b96d-4c3a-8d4f-66231c1c86bf","block_type":"box","text":"For the six month period ended 30","page_number":23,"box":{"x":58,"y":518,"width":231,"height":10}},{"id":"7362d469-f048-4310-a45c-59a40bf32d15","block_type":"box","text":"June 2026","page_number":23,"box":{"x":294,"y":518,"width":70,"height":8}},{"id":"b5098035-7755-416d-8afe-e3c1129958df","block_type":"box","text":"30 Jun 2026","page_number":23,"box":{"x":264,"y":547,"width":66,"height":6}},{"id":"0549461e-676f-49a1-a9ad-ce4fe34e498f","block_type":"box","text":"30 Jun 2025","page_number":23,"box":{"x":407,"y":547,"width":66,"height":6}},{"id":"efbe15c5-3f01-49df-9683-82f3bcee2feb","block_type":"box","text":"£’000","page_number":23,"box":{"x":229,"y":556,"width":29,"height":6}},{"id":"984803d6-0c48-480c-a4b2-53e95c6006c3","block_type":"box","text":"£’000","page_number":23,"box":{"x":300,"y":556,"width":30,"height":6}},{"id":"b66cf544-a4a0-42ea-8db6-cbbf4f184c77","block_type":"box","text":"£’000","page_number":23,"box":{"x":371,"y":556,"width":30,"height":6}},{"id":"e90e12c2-6d3e-4894-aea9-d076e9ade8a6","block_type":"box","text":"£’000","page_number":23,"box":{"x":443,"y":556,"width":30,"height":6}},{"id":"9750cc9c-da83-45ce-a7db-152f444844d5","block_type":"box","text":"Opening net assets","page_number":23,"box":{"x":57,"y":575,"width":111,"height":7}},{"id":"e913011b-4955-4f6f-8860-305b0852825a","block_type":"box","text":"attributable to","page_number":23,"box":{"x":57,"y":584,"width":81,"height":6}},{"id":"54cf5ed9-016e-4655-b7df-affd14f49129","block_type":"box","text":"shareholders","page_number":23,"box":{"x":57,"y":594,"width":76,"height":6}},{"id":"3933c7d4-2c6f-4b07-a261-9061e9db0951","block_type":"box","text":"80,335","page_number":23,"box":{"x":294,"y":575,"width":36,"height":7}},{"id":"2f077768-48ec-4360-8779-435a6cf634cd","block_type":"box","text":"77,680","page_number":23,"box":{"x":438,"y":575,"width":35,"height":7}},{"id":"5c87a6d3-5827-4788-9314-5a6860769acf","block_type":"box","text":"Issue of shares","page_number":23,"box":{"x":58,"y":611,"width":80,"height":6}},{"id":"a1ec42fc-b519-43ca-b95e-331da3d30c93","block_type":"box","text":"7,238","page_number":23,"box":{"x":230,"y":611,"width":29,"height":7}},{"id":"720e8433-66d2-42d3-baa5-b70595b2408e","block_type":"box","text":"9,157","page_number":23,"box":{"x":374,"y":611,"width":27,"height":7}},{"id":"0413b23e-3d6a-4fc3-8243-09ce6dd15c36","block_type":"box","text":"Cancellation of shares","page_number":23,"box":{"x":57,"y":629,"width":119,"height":6}},{"id":"6f265789-32a5-4f7a-8662-acc4bdb221f6","block_type":"box","text":"(6,448)","page_number":23,"box":{"x":225,"y":629,"width":38,"height":7}},{"id":"d0f0093d-1568-4be6-890d-e69c326326b1","block_type":"box","text":"(9,509)","page_number":23,"box":{"x":368,"y":629,"width":37,"height":7}},{"id":"5e0872b6-d717-4c3f-94e3-b9f28ad38edf","block_type":"box","text":"790","page_number":23,"box":{"x":311,"y":646,"width":19,"height":6}},{"id":"6f094233-9b59-44c1-8e01-85ee6e7b4aaa","block_type":"box","text":"(352)","page_number":23,"box":{"x":450,"y":646,"width":27,"height":8}},{"id":"a1ac54c1-8c76-4ff2-9ed2-69f6fee14164","block_type":"box","text":"Dilution adjustment","page_number":23,"box":{"x":58,"y":664,"width":101,"height":7}},{"id":"d3e1331e-7ca6-426e-ab20-94291a9b4884","block_type":"box","text":"6","page_number":23,"box":{"x":324,"y":664,"width":6,"height":6}},{"id":"90a39646-688a-489f-b297-3dcc1cff94cd","block_type":"box","text":"11","page_number":23,"box":{"x":462,"y":664,"width":9,"height":6}},{"id":"7483cc0f-73b7-4783-a7b6-39e32ae30851","block_type":"box","text":"Change in net","page_number":23,"box":{"x":57,"y":681,"width":74,"height":8}},{"id":"b0f0b835-4051-45a5-9383-01f6247be3d4","block_type":"box","text":"assets attributable","page_number":23,"box":{"x":57,"y":691,"width":98,"height":6}},{"id":"5724fcc2-ab15-450a-9410-36ded4ee1b27","block_type":"box","text":"to shareholders from","page_number":23,"box":{"x":57,"y":700,"width":110,"height":6}},{"id":"a45585ef-bb2e-4f85-bbdd-b39b4805540f","block_type":"box","text":"investment activities","page_number":23,"box":{"x":57,"y":710,"width":108,"height":6}},{"id":"67fe72cb-16b5-424a-ac56-1b90c206ddc1","block_type":"box","text":"2,463","page_number":23,"box":{"x":300,"y":681,"width":30,"height":7}},{"id":"cbf154ce-7f4c-4685-b44e-f6112dc0e692","block_type":"box","text":"448","page_number":23,"box":{"x":453,"y":681,"width":20,"height":6}},{"id":"0ecff5db-c842-426a-a849-cc1ade5794e0","block_type":"box","text":"Retained distributions on","page_number":23,"box":{"x":58,"y":727,"width":131,"height":6}},{"id":"5f5929ef-b8a1-4e0a-ab23-95453d2e3208","block_type":"box","text":"accumulation shares","page_number":23,"box":{"x":57,"y":737,"width":110,"height":6}},{"id":"ec4efe17-3c5b-4210-b52e-a8a2bfb45692","block_type":"box","text":"750","page_number":23,"box":{"x":311,"y":727,"width":19,"height":6}},{"id":"c7686c20-7981-465a-a44b-0ae696dfe751","block_type":"box","text":"752","page_number":23,"box":{"x":454,"y":727,"width":19,"height":6}},{"id":"35e0102a-b543-4496-9dca-8d4a941de8db","block_type":"box","text":"Closing net assets","page_number":23,"box":{"x":57,"y":754,"width":106,"height":8}},{"id":"b5886090-3445-4996-b0d2-3f2f6eb88846","block_type":"box","text":"attributable to","page_number":23,"box":{"x":57,"y":764,"width":81,"height":6}},{"id":"24a64980-b31d-4c12-8682-2b4839318fae","block_type":"box","text":"shareholders","page_number":23,"box":{"x":57,"y":773,"width":76,"height":6}},{"id":"acd2aca5-c701-4c94-890a-fb346abdf63c","block_type":"box","text":"84,344","page_number":23,"box":{"x":293,"y":754,"width":37,"height":7}},{"id":"12f20b10-530b-45e5-9b19-9afa6da43981","block_type":"box","text":"78,539","page_number":23,"box":{"x":437,"y":754,"width":36,"height":7}},{"id":"75df5751-4d4b-41cd-ae83-175b33344621","block_type":"box","text":"Balance Sheet","page_number":23,"box":{"x":522,"y":151,"width":134,"height":9}},{"id":"c246b627-dbfb-4ce5-bfe9-d9a51d68c0c0","block_type":"box","text":"As at 30","page_number":23,"box":{"x":521,"y":169,"width":55,"height":8}},{"id":"b4192550-2e0a-489a-a0c5-37612f6cb1f9","block_type":"box","text":"June 2026","page_number":23,"box":{"x":582,"y":169,"width":70,"height":8}},{"id":"a060a0af-0de1-4d3c-8f0c-303e19d46e05","block_type":"box","text":"30 Jun 2026","page_number":23,"box":{"x":728,"y":198,"width":66,"height":6}},{"id":"4721978d-8f09-4fb6-838e-49d9fc87867d","block_type":"box","text":"31 Dec 2025","page_number":23,"box":{"x":871,"y":198,"width":66,"height":6}},{"id":"36943b82-502c-4e81-9e5c-985f6c053359","block_type":"box","text":"£’000","page_number":23,"box":{"x":764,"y":207,"width":30,"height":6}},{"id":"b2dc8b94-5639-42e5-ac74-df29db90e7d4","block_type":"box","text":"£’000","page_number":23,"box":{"x":907,"y":207,"width":30,"height":6}},{"id":"e737e877-8a3e-4b6b-9e5c-54af617b613c","block_type":"box","text":"Assets","page_number":23,"box":{"x":521,"y":226,"width":39,"height":6}},{"id":"1010f3c4-cb26-4ed6-b1f8-df242bc617c4","block_type":"box","text":"Investments","page_number":23,"box":{"x":522,"y":243,"width":63,"height":6}},{"id":"d7c17c17-fa59-438a-b406-e8a71feb6649","block_type":"box","text":"83,456","page_number":23,"box":{"x":758,"y":243,"width":36,"height":7}},{"id":"e16ad934-edee-4d0d-8677-dcd462d40d91","block_type":"box","text":"80,107","page_number":23,"box":{"x":903,"y":243,"width":34,"height":7}},{"id":"de7da400-5107-47cb-9e1b-872c04a905f0","block_type":"box","text":"Amounts receivable","page_number":23,"box":{"x":521,"y":261,"width":106,"height":6}},{"id":"91148ca0-76cb-46a7-9ef6-706030207f00","block_type":"box","text":"263","page_number":23,"box":{"x":775,"y":261,"width":19,"height":6}},{"id":"27e968c8-4716-42fa-8107-c588509d5c2f","block_type":"box","text":"33","page_number":23,"box":{"x":925,"y":261,"width":12,"height":6}},{"id":"805b534c-6690-40ad-bffc-43b372c776e6","block_type":"box","text":"Cash and cash","page_number":23,"box":{"x":522,"y":278,"width":78,"height":6}},{"id":"73649b5d-5213-4df1-b527-643d783907b7","block_type":"box","text":"equivalents","page_number":23,"box":{"x":521,"y":288,"width":61,"height":7}},{"id":"ca68bdb7-8e02-46b8-ab56-bc6f43053bfa","block_type":"box","text":"1,608","page_number":23,"box":{"x":766,"y":278,"width":28,"height":7}},{"id":"2f4d6a74-7eaf-47a7-8135-e293dc46674b","block_type":"box","text":"1,302","page_number":23,"box":{"x":909,"y":278,"width":28,"height":7}},{"id":"fbfe3b62-1836-4992-85d7-cc61f982745e","block_type":"box","text":"Total assets","page_number":23,"box":{"x":521,"y":305,"width":64,"height":6}},{"id":"7c9b7cb9-1e46-446c-b6d4-99e163c15848","block_type":"box","text":"85,327","page_number":23,"box":{"x":758,"y":305,"width":36,"height":7}},{"id":"ad73e155-a4ed-43aa-b852-21dd5332c72f","block_type":"box","text":"81,442","page_number":23,"box":{"x":902,"y":305,"width":35,"height":7}},{"id":"285a8e4f-86d2-4392-9064-f04c9c608020","block_type":"box","text":"Liabilities","page_number":23,"box":{"x":522,"y":323,"width":55,"height":6}},{"id":"0f1ccb44-17f7-41f0-afd0-de76ec6775db","block_type":"box","text":"Investments","page_number":23,"box":{"x":522,"y":340,"width":63,"height":6}},{"id":"53c906e5-7cfe-4769-804f-e23328823bce","block_type":"box","text":"73","page_number":23,"box":{"x":782,"y":340,"width":12,"height":6}},{"id":"4e916274-7e6d-4336-8f0a-dc8317a025dd","block_type":"box","text":"68","page_number":23,"box":{"x":925,"y":340,"width":12,"height":6}},{"id":"d577888d-d5bb-4f25-b5a2-629a8e57431f","block_type":"box","text":"Bank overdrafts","page_number":23,"box":{"x":522,"y":358,"width":83,"height":6}},{"id":"6944db05-9028-4af8-9190-35b1f05af835","block_type":"box","text":"452","page_number":23,"box":{"x":775,"y":358,"width":19,"height":6}},{"id":"f6d6cd37-b1db-4bc4-8f3c-fcf06221f47d","block_type":"box","text":"326","page_number":23,"box":{"x":918,"y":358,"width":19,"height":6}},{"id":"010ad320-8422-4962-9107-3398a3db78a6","block_type":"box","text":"Distribution payable","page_number":23,"box":{"x":522,"y":375,"width":105,"height":8}},{"id":"ba90359c-9101-47cb-a04c-1b4234e434dd","block_type":"box","text":"47","page_number":23,"box":{"x":782,"y":375,"width":12,"height":6}},{"id":"3dfd3b82-227e-4a79-ad8f-bff6c2bc4b96","block_type":"box","text":"75","page_number":23,"box":{"x":925,"y":375,"width":12,"height":6}},{"id":"959a20d3-cc14-4256-b2b4-e3007ca9b614","block_type":"box","text":"Other amounts payable","page_number":23,"box":{"x":521,"y":393,"width":124,"height":7}},{"id":"3194a753-82f4-4079-b34c-58fd1ab2bdcd","block_type":"box","text":"411","page_number":23,"box":{"x":777,"y":393,"width":16,"height":6}},{"id":"eaed2963-3b34-4e08-8a45-bd9dedf9162e","block_type":"box","text":"638","page_number":23,"box":{"x":918,"y":393,"width":19,"height":6}},{"id":"7d8c7118-a4fb-4310-8721-baf543bc9070","block_type":"box","text":"Total liabilities","page_number":23,"box":{"x":521,"y":410,"width":75,"height":6}},{"id":"598b706f-2847-4977-b298-f97b6bc20397","block_type":"box","text":"983","page_number":23,"box":{"x":775,"y":410,"width":19,"height":6}},{"id":"da803d17-873b-4135-b055-7aca41bdc3fa","block_type":"box","text":"1,107","page_number":23,"box":{"x":911,"y":410,"width":26,"height":7}},{"id":"e38c1eea-82ca-47d2-81d0-22ed4d8a3a59","block_type":"box","text":"Net assets","page_number":23,"box":{"x":522,"y":428,"width":59,"height":6}},{"id":"b95fb425-0079-415a-a13e-f3381044b7e7","block_type":"box","text":"attributable to","page_number":23,"box":{"x":521,"y":437,"width":82,"height":6}},{"id":"3e8bbce9-8370-42a1-b713-11dd7d1cb84a","block_type":"box","text":"shareholders","page_number":23,"box":{"x":521,"y":447,"width":76,"height":6}},{"id":"434801de-af18-4fe0-866c-fbca31757ab8","block_type":"box","text":"84,344","page_number":23,"box":{"x":757,"y":428,"width":37,"height":7}},{"id":"b9e21617-3d3c-44af-ad12-767ad4063c3a","block_type":"box","text":"80,335","page_number":23,"box":{"x":901,"y":428,"width":36,"height":7}},{"id":"22ac4628-778c-48de-89ce-562b2121ce2a","block_type":"box","text":"Royal London GMAP Defensive Fund | Royal London Multi-Asset Funds ICVC","page_number":23,"box":{"x":500,"y":33,"width":413,"height":8}},{"id":"4fd4f78c-c066-4251-8c8c-87a54a2d9189","block_type":"box","text":"23","page_number":23,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"1ffd2f9a-c48d-470e-a383-923c6353cc6f","block_type":"box","text":"Notes to the Financial Statements","page_number":24,"box":{"x":58,"y":94,"width":409,"height":11}},{"id":"217df79c-cc16-4ad9-a8e7-5f304fe267b2","block_type":"box","text":"For the six month period ended 30","page_number":24,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"550e74e9-1e03-4822-9ae7-e23586770f47","block_type":"box","text":"June 2026","page_number":24,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"1e4eeda5-4c3a-4590-87c0-56151584eeee","block_type":"box","text":"1. Accounting policies","page_number":24,"box":{"x":58,"y":151,"width":205,"height":11}},{"id":"be05e916-3db8-4ede-b5dc-904fa62314c5","block_type":"box","text":"The accounting policies are set out in note 1 on pages","page_number":24,"box":{"x":57,"y":169,"width":404,"height":10}},{"id":"eba3cb73-6cea-4683-a6a5-ffdd35a6cdb2","block_type":"box","text":"5","page_number":24,"box":{"x":470,"y":170,"width":7,"height":7}},{"id":"312bd1fe-24ad-4bc7-9c75-00429fc8954a","block_type":"box","text":"and","page_number":24,"box":{"x":57,"y":184,"width":24,"height":8}},{"id":"e1409456-f5e7-4fa4-955a-957bb034c1ce","block_type":"box","text":"6","page_number":24,"box":{"x":87,"y":184,"width":7,"height":8}},{"id":"2d757677-8091-4ef3-84a9-c21ca035dceb","block_type":"box","text":".","page_number":24,"box":{"x":96,"y":190,"width":2,"height":1}},{"id":"1e3e1c47-7dbb-44d7-8c81-d347111165e3","block_type":"box","text":"2. Related party transactions","page_number":24,"box":{"x":57,"y":210,"width":272,"height":12}},{"id":"a68da81a-4494-45e7-b035-43181cf3116f","block_type":"box","text":"The Fund’s Authorised Corporate Director, Royal London","page_number":24,"box":{"x":57,"y":229,"width":420,"height":10}},{"id":"cec547e6-c657-49a0-8279-a32641a07840","block_type":"box","text":"Unit Trust Managers Limited, is a related party to the Fund","page_number":24,"box":{"x":58,"y":243,"width":419,"height":10}},{"id":"b3cc613c-3838-430c-b85f-7cc0b475ba44","block_type":"box","text":"as defined by Financial Reporting Standard 102 ‘Related","page_number":24,"box":{"x":57,"y":257,"width":420,"height":10}},{"id":"7e6ac26e-b0a9-42d7-be74-a73bb36be1e9","block_type":"box","text":"Party Disclosures’.","page_number":24,"box":{"x":58,"y":272,"width":124,"height":10}},{"id":"ef23bfa8-4e6a-4f75-9916-ee990e2b6c98","block_type":"box","text":"Fund Management fees charged by Royal London Unit Trust","page_number":24,"box":{"x":58,"y":293,"width":420,"height":10}},{"id":"6743eb6b-3534-4ffa-9283-5b56391abe04","block_type":"box","text":"Managers Limited are disclosed within the expenses figure","page_number":24,"box":{"x":58,"y":307,"width":419,"height":10}},{"id":"180151b0-a1f1-44ee-91cb-c09eae5b533b","block_type":"box","text":"shown on the Statement of Total Return and details of shares","page_number":24,"box":{"x":57,"y":321,"width":421,"height":8}},{"id":"c54cfc20-aae5-47d0-9bd7-5f3405fc1c04","block_type":"box","text":"created and cancelled by Royal London Unit Trust Managers","page_number":24,"box":{"x":57,"y":336,"width":421,"height":9}},{"id":"a94c62d5-8043-418b-b14e-e17fb6f6c2a5","block_type":"box","text":"Limited are shown in the Statement of Change in Net Assets","page_number":24,"box":{"x":58,"y":350,"width":420,"height":10}},{"id":"2dac0bee-3a5a-4809-af31-c40c743ec364","block_type":"box","text":"Attributable to Shareholders and the Distribution figure shown","page_number":24,"box":{"x":57,"y":364,"width":420,"height":10}},{"id":"a54ceb17-c976-452c-9ea3-6a11b9fa3193","block_type":"box","text":"on the Statement of Total Return.","page_number":24,"box":{"x":57,"y":378,"width":223,"height":8}},{"id":"609f0994-70e2-4f3e-95ef-0aa664a05bd3","block_type":"box","text":"At the six months period end the balance due to Royal London","page_number":24,"box":{"x":57,"y":399,"width":420,"height":10}},{"id":"73343143-a9e5-4941-ad95-f4c4a01cb9f9","block_type":"box","text":"Unit Trust Managers Limited in respect of these transactions","page_number":24,"box":{"x":58,"y":413,"width":419,"height":10}},{"id":"e04ea559-fbb1-4d76-8b01-1fb99251560a","block_type":"box","text":"was £114,000 (31/12/25: (£81,000)).","page_number":24,"box":{"x":57,"y":428,"width":239,"height":10}},{"id":"462ecd84-44ed-476b-bb85-c2a757d6b695","block_type":"box","text":"Amounts due from Royal London Unit Trust Managers Limited in","page_number":24,"box":{"x":57,"y":449,"width":420,"height":10}},{"id":"2ec14da5-c41d-4f6b-af4e-fb796a8ac0da","block_type":"box","text":"respect of periodic charge rebates at the period end amounted","page_number":24,"box":{"x":58,"y":463,"width":419,"height":10}},{"id":"665a6ce0-a2e8-4c49-996a-33ea0d88e7d7","block_type":"box","text":"to £15,000 (31/12/25: £18,000).","page_number":24,"box":{"x":57,"y":477,"width":209,"height":10}},{"id":"aa45c438-b64c-4935-a3c0-90d6c9b52330","block_type":"box","text":"At the six months period end, 30 June 2026, 30.35% (31/12/25:","page_number":24,"box":{"x":57,"y":498,"width":420,"height":10}},{"id":"d23ed321-98aa-4064-8fdc-5f7bcdf03cc0","block_type":"box","text":"31.76%) of the shares in issue were held by The Royal London","page_number":24,"box":{"x":57,"y":512,"width":420,"height":10}},{"id":"807a343f-0718-4ffd-886c-78d9b591c76d","block_type":"box","text":"Mutual Insurance Society Limited. Royal London Unit Trust","page_number":24,"box":{"x":58,"y":527,"width":420,"height":10}},{"id":"1c805ec4-1c3f-40de-9d0a-023c218911cb","block_type":"box","text":"Managers Limited is a wholly owned subsidiary of The Royal","page_number":24,"box":{"x":58,"y":541,"width":419,"height":10}},{"id":"e93d20ec-6dea-4e21-a2ef-af6e5d7ecec1","block_type":"box","text":"London Mutual Insurance Society Limited.","page_number":24,"box":{"x":58,"y":555,"width":282,"height":10}},{"id":"da9b2bce-037e-4818-889b-a1dc215cff67","block_type":"box","text":"3. Fair value of investments","page_number":24,"box":{"x":522,"y":151,"width":255,"height":9}},{"id":"bcc94f42-cb35-4422-ba84-40b11d0a596a","block_type":"box","text":"The fair values of the Fund’s assets and liabilities are","page_number":24,"box":{"x":521,"y":169,"width":421,"height":8}},{"id":"aa04de0f-df03-4b85-ba18-11e2bafbbcec","block_type":"box","text":"represented by the values shown in the balance sheet. There","page_number":24,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"3e939e80-bf92-4134-81cc-87f536148533","block_type":"box","text":"is no material difference between the value of the financial","page_number":24,"box":{"x":522,"y":198,"width":419,"height":8}},{"id":"aa44f7ae-ca45-45b0-ab18-7c9bd58c215c","block_type":"box","text":"assets and liabilities, as shown in the balance sheet, and their","page_number":24,"box":{"x":521,"y":212,"width":422,"height":9}},{"id":"7fbe93b0-47c1-4463-b9af-d43938cdc133","block_type":"box","text":"fair value.","page_number":24,"box":{"x":521,"y":226,"width":64,"height":8}},{"id":"66d3608c-36bb-4ea9-be3d-6ee228455371","block_type":"box","text":"The fair value of investments has been determined using the","page_number":24,"box":{"x":521,"y":247,"width":421,"height":10}},{"id":"06b7f244-ff9f-4957-8271-3c9b728cf266","block_type":"box","text":"following hierarchy:","page_number":24,"box":{"x":521,"y":262,"width":130,"height":10}},{"id":"71ed38c5-3b87-449a-98f9-c0b6ee45213c","block_type":"box","text":"Level 1","page_number":24,"box":{"x":522,"y":283,"width":45,"height":7}},{"id":"03997a70-337b-4eb7-a64c-65f1b821b9a1","block_type":"box","text":"The unadjusted quoted price in an active market","page_number":24,"box":{"x":593,"y":283,"width":349,"height":10}},{"id":"fccc7494-9ddc-4af9-8cba-9a643061ec0b","block_type":"box","text":"for identical assets or liabilities that the entity can","page_number":24,"box":{"x":592,"y":297,"width":349,"height":10}},{"id":"654e7a26-807e-440f-a9af-586e073e3239","block_type":"box","text":"access at the measurement date.","page_number":24,"box":{"x":593,"y":311,"width":224,"height":8}},{"id":"5350a863-2a30-41fc-adf3-1db92ddb3259","block_type":"box","text":"Level 2","page_number":24,"box":{"x":522,"y":332,"width":47,"height":8}},{"id":"3c5c8c7a-b830-46fc-a7e6-5b9b6d24b23c","block_type":"box","text":"Inputs other than quoted prices included within","page_number":24,"box":{"x":594,"y":332,"width":347,"height":10}},{"id":"e261c607-a56d-4a83-bcae-d2a9fd2ff631","block_type":"box","text":"Level 1 that are observable (i.e. developed using","page_number":24,"box":{"x":593,"y":346,"width":348,"height":10}},{"id":"f3e50ac4-709c-4520-b68e-aa7b0b06fb59","block_type":"box","text":"market data) for the asset or liability, either directly","page_number":24,"box":{"x":593,"y":361,"width":349,"height":10}},{"id":"96a993b5-e5bd-4679-8527-18a2cbe0f705","block_type":"box","text":"or indirectly.","page_number":24,"box":{"x":593,"y":375,"width":80,"height":10}},{"id":"3c04b7f9-0210-4e23-b973-f37bfa45f5e8","block_type":"box","text":"Level 3","page_number":24,"box":{"x":522,"y":396,"width":47,"height":8}},{"id":"a300febb-8bdd-4225-884e-415d259a2f02","block_type":"box","text":"Inputs are unobservable (i.e. for which market data","page_number":24,"box":{"x":594,"y":396,"width":348,"height":10}},{"id":"a3a0ba10-bf08-4159-85fd-2e6e8193a57b","block_type":"box","text":"is unavailable) for the asset or liability.","page_number":24,"box":{"x":593,"y":410,"width":255,"height":10}},{"id":"101e79c3-095b-47a8-b8ba-75365768af93","block_type":"box","text":"As at the period ended 30","page_number":24,"box":{"x":521,"y":431,"width":186,"height":10}},{"id":"c52575c6-dad4-4367-96f7-f6efcce2ee0b","block_type":"box","text":"June 2026","page_number":24,"box":{"x":713,"y":431,"width":73,"height":8}},{"id":"7b52783e-74c1-4071-bb97-ec119acfebd1","block_type":"box","text":"Level","page_number":24,"box":{"x":522,"y":456,"width":28,"height":6}},{"id":"645fb63b-8adc-4f0f-a9f1-f621ee0fa51d","block_type":"box","text":"1","page_number":24,"box":{"x":718,"y":456,"width":3,"height":6}},{"id":"459ddfc9-26f7-42a5-b538-7d01c61d5aa4","block_type":"box","text":"2","page_number":24,"box":{"x":788,"y":456,"width":6,"height":6}},{"id":"43398316-5dcc-4a3a-8ad1-10e7b98277f3","block_type":"box","text":"3","page_number":24,"box":{"x":860,"y":456,"width":6,"height":6}},{"id":"83155da7-cbf5-4252-85c4-2fe2efa2813c","block_type":"box","text":"Total","page_number":24,"box":{"x":910,"y":456,"width":27,"height":6}},{"id":"b5ce1cf5-1a85-4ef6-bacb-fba2dcfcf346","block_type":"box","text":"£’000","page_number":24,"box":{"x":693,"y":466,"width":30,"height":6}},{"id":"c38f17b4-12b8-46a7-8a3d-471acaedd7f7","block_type":"box","text":"£’000","page_number":24,"box":{"x":764,"y":466,"width":30,"height":6}},{"id":"591f5265-2b46-4502-8c8f-0e540cd2c2bb","block_type":"box","text":"£’000","page_number":24,"box":{"x":836,"y":466,"width":30,"height":6}},{"id":"54ad1ef9-a97f-412f-8bac-1cb5c8d3d7c2","block_type":"box","text":"£’000","page_number":24,"box":{"x":907,"y":466,"width":30,"height":6}},{"id":"4b16a07b-189d-45db-b84e-36b875c2edfb","block_type":"box","text":"Investments","page_number":24,"box":{"x":522,"y":484,"width":69,"height":6}},{"id":"30593a18-ea50-4a84-9653-486ad49361a3","block_type":"box","text":"Collective investment","page_number":24,"box":{"x":522,"y":502,"width":113,"height":6}},{"id":"d147b5ca-9eea-404d-a9ce-3648c5a15759","block_type":"box","text":"schemes","page_number":24,"box":{"x":521,"y":511,"width":48,"height":6}},{"id":"dcf517fd-197a-4c6e-80ed-a543f0b25a15","block_type":"box","text":"–","page_number":24,"box":{"x":717,"y":505,"width":6,"height":1}},{"id":"0fbb93a4-2263-407a-ac56-1f44215b61cd","block_type":"box","text":"79,127","page_number":24,"box":{"x":760,"y":502,"width":34,"height":7}},{"id":"1afb9aa0-62c4-4871-9db6-4b946e8e0b11","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":505,"width":6,"height":1}},{"id":"5b87f25c-0b6c-4e7a-b89c-1a8331bdcf92","block_type":"box","text":"79,127","page_number":24,"box":{"x":903,"y":502,"width":34,"height":7}},{"id":"d12b7293-9f2a-45b8-be6c-ad2254cb9797","block_type":"box","text":"Exchange Traded","page_number":24,"box":{"x":522,"y":529,"width":92,"height":7}},{"id":"eb8a26ac-f82c-488d-acbb-844d9412989a","block_type":"box","text":"Funds and","page_number":24,"box":{"x":522,"y":538,"width":54,"height":6}},{"id":"8729f82c-92c5-4c4d-a24e-e025693cd422","block_type":"box","text":"Commodities","page_number":24,"box":{"x":522,"y":548,"width":69,"height":6}},{"id":"1ca331c6-98fd-48da-9e78-221a7676c9f6","block_type":"box","text":"4,196","page_number":24,"box":{"x":695,"y":529,"width":28,"height":7}},{"id":"1880e190-1bda-4061-baeb-4d49af4c0b9e","block_type":"box","text":"–","page_number":24,"box":{"x":788,"y":532,"width":7,"height":1}},{"id":"9a74a05e-1447-49ba-8a61-b9e4e0330940","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":532,"width":6,"height":1}},{"id":"f4f8eec3-0b01-418d-a6d6-d7fe42792f99","block_type":"box","text":"4,196","page_number":24,"box":{"x":909,"y":529,"width":28,"height":7}},{"id":"992bc0ee-61b5-401c-8d71-54bed56b6419","block_type":"box","text":"Derivatives","page_number":24,"box":{"x":522,"y":565,"width":58,"height":6}},{"id":"5483cbdb-8ef7-4fae-807e-04025df2072d","block_type":"box","text":"97","page_number":24,"box":{"x":711,"y":565,"width":12,"height":6}},{"id":"af9b9ffd-f4a7-41b0-ac8b-ed6dcf602260","block_type":"box","text":"36","page_number":24,"box":{"x":782,"y":565,"width":12,"height":6}},{"id":"6716bd16-e220-4333-916e-6763f1eba145","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":569,"width":6,"height":0}},{"id":"979334e8-b3c4-4827-9a45-84356a2fe9b0","block_type":"box","text":"133","page_number":24,"box":{"x":919,"y":565,"width":18,"height":6}},{"id":"ef142a40-3fba-4a32-8787-e4f385972036","block_type":"box","text":"Total","page_number":24,"box":{"x":521,"y":583,"width":27,"height":6}},{"id":"0ffaa89c-2960-4bc5-b554-8354f22bbe51","block_type":"box","text":"4,293","page_number":24,"box":{"x":693,"y":583,"width":30,"height":7}},{"id":"caea3666-fbd8-4ab5-a4fb-bd3d68f0cb45","block_type":"box","text":"79,163","page_number":24,"box":{"x":760,"y":583,"width":34,"height":7}},{"id":"c7452378-3473-42d6-9fe1-6673b0554719","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":586,"width":6,"height":1}},{"id":"a751c834-7a7a-40e0-9596-6f74c3d225aa","block_type":"box","text":"83,456","page_number":24,"box":{"x":901,"y":583,"width":36,"height":7}},{"id":"d172fab5-ceb0-4425-b633-40c29caf9858","block_type":"box","text":"Investment liabilities","page_number":24,"box":{"x":522,"y":600,"width":119,"height":6}},{"id":"22616b38-d8e2-458e-a067-26544dd69140","block_type":"box","text":"Derivatives","page_number":24,"box":{"x":522,"y":618,"width":58,"height":6}},{"id":"200a058b-c3d1-4685-bdcf-cf18cd348141","block_type":"box","text":"(68)","page_number":24,"box":{"x":707,"y":618,"width":20,"height":7}},{"id":"5b70ed17-0f6c-4ebb-a7b0-3c72ca8d3a38","block_type":"box","text":"(5)","page_number":24,"box":{"x":785,"y":618,"width":13,"height":7}},{"id":"ad0d05b3-26bf-4d0a-b744-29cf23827cad","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":621,"width":6,"height":1}},{"id":"37e1cbc6-3633-46ce-994c-a5f86b57c3df","block_type":"box","text":"(73)","page_number":24,"box":{"x":921,"y":618,"width":20,"height":7}},{"id":"e7a20c0a-4ea3-4faf-b159-33881fc1d066","block_type":"box","text":"Total","page_number":24,"box":{"x":521,"y":635,"width":27,"height":6}},{"id":"036cf3ea-9fc0-4818-a435-661959f22fbc","block_type":"box","text":"(68)","page_number":24,"box":{"x":707,"y":635,"width":20,"height":8}},{"id":"5bd82258-3d9a-4f86-934c-975f4b1f4614","block_type":"box","text":"(5)","page_number":24,"box":{"x":785,"y":635,"width":13,"height":8}},{"id":"51831df5-6c6a-449c-8f83-30d4047ed48c","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":639,"width":6,"height":0}},{"id":"17621d7d-c186-49ec-ab9a-fb4592b6675a","block_type":"box","text":"(73)","page_number":24,"box":{"x":921,"y":635,"width":20,"height":8}},{"id":"470f7e9e-3d98-4caf-93fc-5606d9d47363","block_type":"box","text":"As at the year ended 31","page_number":24,"box":{"x":521,"y":657,"width":168,"height":10}},{"id":"12a758a1-e83a-4532-840b-bf6b99cbc4e8","block_type":"box","text":"December 2025","page_number":24,"box":{"x":697,"y":657,"width":111,"height":8}},{"id":"109d9a1a-1f6e-4e4b-b50d-57bb2277d1b8","block_type":"box","text":"Level","page_number":24,"box":{"x":522,"y":682,"width":28,"height":6}},{"id":"97a9912e-208e-4c7c-8c06-f573b1b974d4","block_type":"box","text":"1","page_number":24,"box":{"x":718,"y":682,"width":3,"height":6}},{"id":"746ca461-e64c-4b6b-9ec5-098db0eba547","block_type":"box","text":"2","page_number":24,"box":{"x":788,"y":682,"width":6,"height":6}},{"id":"b850bb2c-21f6-4390-a24f-74f537dbf4a9","block_type":"box","text":"3","page_number":24,"box":{"x":860,"y":682,"width":6,"height":6}},{"id":"15ff507b-c47e-4556-912b-a10c2acdef5f","block_type":"box","text":"Total","page_number":24,"box":{"x":910,"y":682,"width":27,"height":6}},{"id":"4b3ae718-617a-4fcc-a8dc-f2579ff618dd","block_type":"box","text":"£’000","page_number":24,"box":{"x":693,"y":692,"width":30,"height":6}},{"id":"b8a52c62-7fbc-417e-9580-b7dde1fb1288","block_type":"box","text":"£’000","page_number":24,"box":{"x":764,"y":692,"width":30,"height":6}},{"id":"03578fd8-7d7f-4595-a435-68afeed893cf","block_type":"box","text":"£’000","page_number":24,"box":{"x":836,"y":692,"width":30,"height":6}},{"id":"dea8d287-3b17-4044-959b-8858b99ec27e","block_type":"box","text":"£’000","page_number":24,"box":{"x":907,"y":692,"width":30,"height":6}},{"id":"e9e0c8a1-c449-45a1-845d-a080724c6d55","block_type":"box","text":"Investments","page_number":24,"box":{"x":522,"y":710,"width":69,"height":6}},{"id":"cb29cb6b-6928-4c29-9e07-b61045a14a97","block_type":"box","text":"Collective investment","page_number":24,"box":{"x":522,"y":728,"width":113,"height":6}},{"id":"2cd7ea46-7edc-4dfe-9e5e-9184d0d6cfb3","block_type":"box","text":"schemes","page_number":24,"box":{"x":521,"y":737,"width":48,"height":6}},{"id":"ecfb27ad-d636-45a6-9c5f-4b27b94bb9f3","block_type":"box","text":"–","page_number":24,"box":{"x":717,"y":731,"width":6,"height":1}},{"id":"b142821e-dcdf-4df7-9527-8b5abb90a586","block_type":"box","text":"74,449","page_number":24,"box":{"x":759,"y":728,"width":35,"height":7}},{"id":"c53a3b24-e6eb-4525-b93f-42bc3a6b82dd","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":731,"width":6,"height":1}},{"id":"9d011974-05a1-4073-9076-6fcebefe9aaa","block_type":"box","text":"74,449","page_number":24,"box":{"x":902,"y":728,"width":35,"height":7}},{"id":"df74e955-09b1-43f8-956f-bb0e52474b9f","block_type":"box","text":"Exchange Traded","page_number":24,"box":{"x":522,"y":755,"width":92,"height":7}},{"id":"052d5616-951d-40e7-b8b1-c09a4f3912a9","block_type":"box","text":"Funds and","page_number":24,"box":{"x":522,"y":764,"width":54,"height":6}},{"id":"60e6227b-28f4-4ea6-ad15-2610becd58c7","block_type":"box","text":"Commodities","page_number":24,"box":{"x":522,"y":774,"width":69,"height":6}},{"id":"3d34904d-6a57-40d3-9709-c927ed4167db","block_type":"box","text":"5,570","page_number":24,"box":{"x":694,"y":755,"width":29,"height":7}},{"id":"a9a1c449-a2ef-4ab6-82dd-a7c64b835a41","block_type":"box","text":"–","page_number":24,"box":{"x":788,"y":758,"width":7,"height":1}},{"id":"df937481-1740-4b94-90b9-3446bf84e7ca","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":758,"width":6,"height":1}},{"id":"b660f78b-a411-413d-9d7c-4ef1189e48c3","block_type":"box","text":"5,570","page_number":24,"box":{"x":908,"y":755,"width":29,"height":7}},{"id":"0353cf14-4b6e-410b-9f5a-0f6cf580adc0","block_type":"box","text":"Derivatives","page_number":24,"box":{"x":522,"y":791,"width":58,"height":6}},{"id":"01fb5cf4-ae06-4290-92bc-4aeab3f40b10","block_type":"box","text":"86","page_number":24,"box":{"x":710,"y":791,"width":13,"height":6}},{"id":"c63429c6-95d9-4bc6-ba26-2509820617b3","block_type":"box","text":"2","page_number":24,"box":{"x":789,"y":791,"width":5,"height":6}},{"id":"3c7ddb13-8587-4fe6-9b26-95b8eb98700d","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":795,"width":6,"height":0}},{"id":"37b9befb-518b-451e-b143-b6c049c9b965","block_type":"box","text":"88","page_number":24,"box":{"x":925,"y":791,"width":12,"height":6}},{"id":"d29a9c06-39de-4ffb-9824-5f6ff092f181","block_type":"box","text":"Total","page_number":24,"box":{"x":521,"y":809,"width":27,"height":6}},{"id":"b5d90a43-ba5c-46a9-8d7b-2b8c218cbd2b","block_type":"box","text":"5,656","page_number":24,"box":{"x":693,"y":809,"width":30,"height":7}},{"id":"49eb3530-fb4c-460c-baef-a20bb5eb6f2d","block_type":"box","text":"74,451","page_number":24,"box":{"x":759,"y":809,"width":34,"height":7}},{"id":"42ba88e1-19fe-42dd-9413-c40c933604f9","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":812,"width":6,"height":1}},{"id":"bca585ae-a12c-4ad7-8616-8fa7a9ccd30e","block_type":"box","text":"80,107","page_number":24,"box":{"x":902,"y":809,"width":35,"height":7}},{"id":"ff429a8f-363d-4ba5-89f3-ab1ef0cd20ff","block_type":"box","text":"Investment liabilities","page_number":24,"box":{"x":522,"y":826,"width":119,"height":6}},{"id":"00998eef-1a4e-4061-bb3f-a641c2944ce0","block_type":"box","text":"Derivatives","page_number":24,"box":{"x":522,"y":844,"width":58,"height":6}},{"id":"62caebb0-3e74-47d3-986f-9c6ac16c0728","block_type":"box","text":"(42)","page_number":24,"box":{"x":708,"y":844,"width":19,"height":7}},{"id":"8468f277-d7ad-4379-b825-cbb409658ee1","block_type":"box","text":"(26)","page_number":24,"box":{"x":779,"y":844,"width":19,"height":7}},{"id":"f3905166-1d87-4442-a699-e52771237ff0","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":847,"width":6,"height":1}},{"id":"f76988f4-b8e2-479a-8846-e3d3cd0c637a","block_type":"box","text":"(68)","page_number":24,"box":{"x":921,"y":844,"width":20,"height":7}},{"id":"564e54af-4e08-45ae-96d2-f3a7bba05ed5","block_type":"box","text":"Total","page_number":24,"box":{"x":521,"y":861,"width":27,"height":6}},{"id":"ddcfaa4d-b752-4468-956e-9e0851762ed7","block_type":"box","text":"(42)","page_number":24,"box":{"x":707,"y":861,"width":20,"height":8}},{"id":"656149d2-693e-4f33-beac-edf5e8ac4a83","block_type":"box","text":"(26)","page_number":24,"box":{"x":778,"y":861,"width":20,"height":8}},{"id":"d7f8079c-d3a7-4dfe-9524-2882769148a8","block_type":"box","text":"–","page_number":24,"box":{"x":860,"y":865,"width":6,"height":1}},{"id":"f7359e5b-4122-4fb9-865f-76c792b5c2b7","block_type":"box","text":"(68)","page_number":24,"box":{"x":921,"y":861,"width":20,"height":8}},{"id":"fcf7a12e-7428-41fd-b9d0-b78955d4f12e","block_type":"box","text":"Royal London GMAP Defensive Fund | Royal London Multi-Asset Funds ICVC","page_number":24,"box":{"x":500,"y":33,"width":413,"height":8}},{"id":"01b43499-2c26-4974-a8df-d3eb32351575","block_type":"box","text":"24","page_number":24,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"415abe21-fed0-4ded-8ed0-56f5b7b59e56","block_type":"box","text":"Manager’s Investment Report","page_number":25,"box":{"x":58,"y":151,"width":352,"height":14}},{"id":"45018b58-e535-4dda-b02d-5ad2a342c234","block_type":"box","text":"Cumulative Performance","page_number":25,"box":{"x":57,"y":181,"width":230,"height":9}},{"id":"569699f4-944b-473f-b1ae-c71910e2c9d6","block_type":"box","text":"(% change to 30/06/26)","page_number":25,"box":{"x":57,"y":203,"width":164,"height":10}},{"id":"6807118d-5b68-4b7c-a8e6-4cec58bd4caa","block_type":"box","text":"6 month","page_number":25,"box":{"x":242,"y":231,"width":46,"height":6}},{"id":"011bc7bc-2349-420b-9daf-05a7d757f165","block_type":"box","text":"total","page_number":25,"box":{"x":263,"y":241,"width":25,"height":6}},{"id":"2ea05c96-a019-42bd-b5ea-946e8420b592","block_type":"box","text":"return","page_number":25,"box":{"x":254,"y":250,"width":34,"height":6}},{"id":"065cfb44-16eb-413b-b4b5-a46ec9d26fdf","block_type":"box","text":"%","page_number":25,"box":{"x":279,"y":260,"width":9,"height":6}},{"id":"69f5d116-580b-4fa4-a4f6-edb8f0b0b3fd","block_type":"box","text":"1 year","page_number":25,"box":{"x":316,"y":231,"width":34,"height":8}},{"id":"c2950d6a-5c81-4a48-ad5a-d5b768d48914","block_type":"box","text":"total","page_number":25,"box":{"x":324,"y":241,"width":25,"height":6}},{"id":"982d6048-f941-48a9-92b3-a801b9b0f675","block_type":"box","text":"return","page_number":25,"box":{"x":315,"y":250,"width":34,"height":6}},{"id":"1bd1907d-2e98-43cf-ae22-4a6e0c67367d","block_type":"box","text":"%","page_number":25,"box":{"x":340,"y":260,"width":9,"height":6}},{"id":"dca22da0-b2e6-4194-9305-99283ffa3170","block_type":"box","text":"3 year","page_number":25,"box":{"x":376,"y":231,"width":34,"height":8}},{"id":"2692feb3-fc64-4830-a3d3-65386c12f146","block_type":"box","text":"total","page_number":25,"box":{"x":385,"y":241,"width":24,"height":6}},{"id":"9a7a005b-2819-4498-8e7f-3f451adf7f90","block_type":"box","text":"return","page_number":25,"box":{"x":376,"y":250,"width":33,"height":6}},{"id":"67c83a7f-907c-43ed-b7c2-b4509922f37e","block_type":"box","text":"%","page_number":25,"box":{"x":400,"y":260,"width":10,"height":6}},{"id":"eaa07f96-b78c-4253-b468-fe38144b911c","block_type":"box","text":"5 year","page_number":25,"box":{"x":437,"y":231,"width":34,"height":8}},{"id":"72088400-a074-40ae-b590-787cf86db35f","block_type":"box","text":"total","page_number":25,"box":{"x":445,"y":241,"width":25,"height":6}},{"id":"815326cc-b46c-4c0f-8509-70eeb96858f9","block_type":"box","text":"return","page_number":25,"box":{"x":436,"y":250,"width":34,"height":6}},{"id":"b035cdd0-185b-4563-87a2-cbff68808a83","block_type":"box","text":"%","page_number":25,"box":{"x":461,"y":260,"width":9,"height":6}},{"id":"8987bf66-f8af-4c57-a115-16a06db7626a","block_type":"box","text":"Royal London GMAP","page_number":25,"box":{"x":58,"y":279,"width":111,"height":8}},{"id":"ab61ab13-f8ed-405c-bdad-630bedd878ea","block_type":"box","text":"Balanced Fund,","page_number":25,"box":{"x":58,"y":289,"width":82,"height":7}},{"id":"d764ff8e-34d9-4955-b33a-485c42123cd9","block_type":"box","text":"Class M Accumulation","page_number":25,"box":{"x":57,"y":298,"width":118,"height":7}},{"id":"f3f00c1e-b24a-4e82-912c-0451e02a3772","block_type":"box","text":"5.41","page_number":25,"box":{"x":267,"y":280,"width":20,"height":6}},{"id":"d2ba5448-41b0-4f12-a214-fbe31840f81d","block_type":"box","text":"12.51","page_number":25,"box":{"x":322,"y":280,"width":25,"height":6}},{"id":"4cd6a933-fc14-459d-94b9-f2717eabfc12","block_type":"box","text":"27.50","page_number":25,"box":{"x":381,"y":280,"width":29,"height":6}},{"id":"c923dd66-7cb0-425d-952e-ef2cb7591371","block_type":"box","text":"27.80","page_number":25,"box":{"x":442,"y":280,"width":28,"height":6}},{"id":"4ee8ed04-67cd-41df-8204-822c4ce7a2d7","block_type":"box","text":"Royal London GMAP","page_number":25,"box":{"x":58,"y":318,"width":111,"height":8}},{"id":"2368f372-05bf-44c1-af40-5c40b60aa2e5","block_type":"box","text":"Balanced Fund,","page_number":25,"box":{"x":58,"y":328,"width":82,"height":7}},{"id":"757ba706-c7f7-43c2-ad83-7514fdd0d2e1","block_type":"box","text":"Class M Income","page_number":25,"box":{"x":57,"y":337,"width":85,"height":6}},{"id":"78013fb0-06af-4575-8d56-b2ba3b93d28b","block_type":"box","text":"5.19","page_number":25,"box":{"x":267,"y":318,"width":21,"height":6}},{"id":"303b0c2a-0a96-42ec-bbde-d900391d1f69","block_type":"box","text":"12.25","page_number":25,"box":{"x":321,"y":318,"width":28,"height":6}},{"id":"98cf0efe-53c1-4252-b0a6-cf9a90094341","block_type":"box","text":"27.20","page_number":25,"box":{"x":381,"y":318,"width":29,"height":6}},{"id":"e1cc3294-9030-4add-bcc0-3188abb6b181","block_type":"box","text":"27.26","page_number":25,"box":{"x":442,"y":318,"width":28,"height":6}},{"id":"43bf92d8-b7a9-48a9-ab53-0b2a3898bb17","block_type":"box","text":"Royal London GMAP","page_number":25,"box":{"x":58,"y":357,"width":111,"height":7}},{"id":"1e0d34a6-2560-4ee7-934b-eb0e3280d14d","block_type":"box","text":"Balanced Fund,","page_number":25,"box":{"x":58,"y":366,"width":82,"height":7}},{"id":"e414dbe8-220d-42f0-9b85-ad436ae32889","block_type":"box","text":"Class P Accumulation","page_number":25,"box":{"x":57,"y":376,"width":116,"height":6}},{"id":"89f98177-2f4d-4c70-b5f0-6b067bc80e65","block_type":"box","text":"5.41","page_number":25,"box":{"x":267,"y":357,"width":20,"height":6}},{"id":"26be1b6d-f030-4fcb-b8b3-2abc17ec4fb3","block_type":"box","text":"12.61","page_number":25,"box":{"x":321,"y":357,"width":26,"height":6}},{"id":"712b5051-800a-458a-9601-9493868371ef","block_type":"box","text":"27.69","page_number":25,"box":{"x":381,"y":357,"width":29,"height":6}},{"id":"ce38d91b-7fb3-422c-9298-5a3f0e44840f","block_type":"box","text":"28.04","page_number":25,"box":{"x":441,"y":357,"width":29,"height":6}},{"id":"9ac2698c-b489-468e-99de-f8670b27044e","block_type":"box","text":"Royal London GMAP","page_number":25,"box":{"x":58,"y":395,"width":111,"height":8}},{"id":"b8fa533a-3a6b-4387-a69b-fbd9d6b90eae","block_type":"box","text":"Balanced Fund,","page_number":25,"box":{"x":58,"y":405,"width":82,"height":7}},{"id":"915ed8a1-9321-4eaf-ba40-0f97c985e772","block_type":"box","text":"Class R Accumulation","page_number":25,"box":{"x":57,"y":414,"width":117,"height":6}},{"id":"9c882853-d7dd-4063-8e91-d5a1dd8ec785","block_type":"box","text":"5.63","page_number":25,"box":{"x":266,"y":395,"width":22,"height":6}},{"id":"a5968e29-e7aa-457a-80c9-d38381c07b69","block_type":"box","text":"12.94","page_number":25,"box":{"x":321,"y":395,"width":28,"height":6}},{"id":"b4549dca-a628-4f94-9e0c-70524fe2743a","block_type":"box","text":"28.95","page_number":25,"box":{"x":380,"y":395,"width":30,"height":6}},{"id":"2dc0c16b-8600-453d-b735-a246a7c11914","block_type":"box","text":"30.18","page_number":25,"box":{"x":443,"y":395,"width":27,"height":6}},{"id":"e96ce47c-2243-4eac-aff7-faa89084dd4f","block_type":"box","text":"Royal London GMAP","page_number":25,"box":{"x":58,"y":434,"width":111,"height":7}},{"id":"a14f8e1b-b77c-4989-a188-b00e78d9161c","block_type":"box","text":"Balanced Fund,","page_number":25,"box":{"x":58,"y":443,"width":82,"height":7}},{"id":"54942eec-a452-431e-b50b-248d9fb8be57","block_type":"box","text":"Class S Accumulation","page_number":25,"box":{"x":57,"y":453,"width":116,"height":6}},{"id":"ae7de4b1-fed4-4958-87e6-485c4aaef4dd","block_type":"box","text":"5.54","page_number":25,"box":{"x":265,"y":434,"width":23,"height":6}},{"id":"b2e05c5b-f050-433c-ac8b-a5722435ab48","block_type":"box","text":"12.90","page_number":25,"box":{"x":321,"y":434,"width":28,"height":6}},{"id":"4117766f-8457-402c-a282-d28241caffd1","block_type":"box","text":"28.86","page_number":25,"box":{"x":380,"y":434,"width":30,"height":6}},{"id":"3ecd236b-3366-406c-a18f-c4d4a7acf4aa","block_type":"box","text":"–","page_number":25,"box":{"x":464,"y":437,"width":7,"height":1}},{"id":"b94da4e4-91f7-4293-be51-4132d93c6aaf","block_type":"box","text":"Royal London GMAP","page_number":25,"box":{"x":58,"y":472,"width":111,"height":8}},{"id":"4f712c79-8622-4955-bad4-e003a3c442b6","block_type":"box","text":"Balanced Fund,","page_number":25,"box":{"x":58,"y":482,"width":82,"height":7}},{"id":"059768c2-7f39-41f4-acfc-44315d439e0b","block_type":"box","text":"Class Z Accumulation","page_number":25,"box":{"x":57,"y":491,"width":115,"height":6}},{"id":"0b2e773e-05b8-40d9-aacb-35501df249a7","block_type":"box","text":"5.54","page_number":25,"box":{"x":265,"y":472,"width":23,"height":6}},{"id":"ccddcb1d-6cdb-405a-b22f-d739a750a1bc","block_type":"box","text":"12.71","page_number":25,"box":{"x":322,"y":472,"width":25,"height":6}},{"id":"c77fdd5b-4084-468b-9930-c677824c6c4f","block_type":"box","text":"28.20","page_number":25,"box":{"x":380,"y":472,"width":30,"height":6}},{"id":"ee216c26-14a8-4d9e-b49a-8314d1a3003d","block_type":"box","text":"–","page_number":25,"box":{"x":464,"y":476,"width":7,"height":0}},{"id":"8ca15b02-3565-4b90-92f4-a3b15d8d8b02","block_type":"box","text":"IA Mixed Investment 20-60%","page_number":25,"box":{"x":58,"y":511,"width":153,"height":6}},{"id":"2b3bc1f4-77c7-44ce-9248-3eb0ae9c9931","block_type":"box","text":"Shares Total Return (TR)*","page_number":25,"box":{"x":57,"y":520,"width":138,"height":8}},{"id":"20ea1ff9-a48e-4e87-b17e-949a5711da74","block_type":"box","text":"5.24","page_number":25,"box":{"x":266,"y":511,"width":22,"height":6}},{"id":"fea68e9f-0c21-4c0e-868f-b09196195bfb","block_type":"box","text":"12.27","page_number":25,"box":{"x":321,"y":511,"width":28,"height":6}},{"id":"35316c1f-a72b-426b-8dc7-ce957b7d99bc","block_type":"box","text":"30.03","page_number":25,"box":{"x":380,"y":511,"width":30,"height":6}},{"id":"dbea55fb-9be9-40a9-80c2-b6725bfdb672","block_type":"box","text":"22.12","page_number":25,"box":{"x":442,"y":511,"width":28,"height":6}},{"id":"43a9907c-6439-4abd-b0e0-f542802bfdc1","block_type":"box","text":"* Benchmark","page_number":25,"box":{"x":57,"y":548,"width":69,"height":6}},{"id":"2e2b9b2a-a3a1-4ab0-9c09-643c847d9147","block_type":"box","text":"Class Z Accumulation launched on 31 January 2023 and Class S Accumulation","page_number":25,"box":{"x":57,"y":562,"width":420,"height":8}},{"id":"1612b769-8ae0-43ed-8db3-317c3217eede","block_type":"box","text":"launched on 3 May 2023.","page_number":25,"box":{"x":57,"y":573,"width":133,"height":7}},{"id":"9f2f875a-10f6-46f2-8228-093449bbd41d","block_type":"box","text":"Past performance is not necessarily a reliable indicator","page_number":25,"box":{"x":58,"y":592,"width":420,"height":10}},{"id":"d9780bf3-ed48-4143-95a5-db7a9bd80d98","block_type":"box","text":"of future performance. The value of investments and the","page_number":25,"box":{"x":57,"y":606,"width":420,"height":10}},{"id":"65bced8d-0293-4fe3-852d-6db1ff9263f8","block_type":"box","text":"income from them is not guaranteed and may go down","page_number":25,"box":{"x":58,"y":620,"width":419,"height":10}},{"id":"c872042a-faef-4cf2-90e3-af96618608c7","block_type":"box","text":"as well as up and investors may not get back the amount","page_number":25,"box":{"x":57,"y":635,"width":421,"height":10}},{"id":"7ab6d86a-42d0-485e-a526-898398ca1125","block_type":"box","text":"originally invested.","page_number":25,"box":{"x":57,"y":649,"width":138,"height":10}},{"id":"37694217-2a90-4cac-878f-a5bdba251121","block_type":"box","text":"Source: Royal London Asset Management Limited and","page_number":25,"box":{"x":57,"y":670,"width":420,"height":10}},{"id":"3cd06918-5ab1-413d-a885-6e11a29628a4","block_type":"box","text":"Morningstar, as at 30","page_number":25,"box":{"x":58,"y":684,"width":165,"height":10}},{"id":"803693f4-6426-43ec-9626-2abb36d522f1","block_type":"box","text":"June 2026. Returns are net of","page_number":25,"box":{"x":237,"y":684,"width":242,"height":8}},{"id":"753d5d35-2360-4c3b-908b-6adaad53377c","block_type":"box","text":"management fees. Investors should also note that the total","page_number":25,"box":{"x":58,"y":698,"width":419,"height":10}},{"id":"0c5e82b0-6be1-4f3a-9352-1595ab92c219","block_type":"box","text":"return is calculated on the Fund’s official 2pm price whereas the","page_number":25,"box":{"x":58,"y":713,"width":419,"height":10}},{"id":"38786d55-857e-46a4-93a7-8c715f9e2ebc","block_type":"box","text":"Fund has been valued as at close of business for the Closing","page_number":25,"box":{"x":58,"y":727,"width":419,"height":10}},{"id":"f203053f-0162-41f0-adcc-0d7bc1ee63b1","block_type":"box","text":"Net Asset Value quoted within the Comparative Table. For","page_number":25,"box":{"x":58,"y":741,"width":420,"height":10}},{"id":"f419a0e1-4a76-4214-8fec-ca488f5e43db","block_type":"box","text":"further information, including ongoing performance and Fund","page_number":25,"box":{"x":57,"y":755,"width":420,"height":10}},{"id":"3fd90173-6c8d-4ffe-8a8d-1d990bbf2f0d","block_type":"box","text":"breakdown information, please refer to the latest factsheet at","page_number":25,"box":{"x":58,"y":770,"width":420,"height":10}},{"id":"58ed6750-51a5-4813-9b0a-46a2b5e99446","block_type":"box","text":"www.rlam.com.","page_number":25,"box":{"x":57,"y":784,"width":103,"height":8}},{"id":"ae973b0e-be26-4536-a0d7-a76712e1c43e","block_type":"box","text":"Fund objective","page_number":25,"box":{"x":522,"y":151,"width":135,"height":11}},{"id":"35c3bdc3-cc09-4a3b-af4a-7546ff327654","block_type":"box","text":"The Fund aims to achieve capital growth over rolling 5-year","page_number":25,"box":{"x":521,"y":169,"width":422,"height":10}},{"id":"ba52582b-8176-4dd8-8573-7b4aa136b022","block_type":"box","text":"periods, after the deduction of charges. The Fund forms part of","page_number":25,"box":{"x":522,"y":184,"width":421,"height":10}},{"id":"19115d51-3ee4-4fd5-92dc-61ccdbcefe52","block_type":"box","text":"the Royal London Global Multi-Asset Portfolio (“GMAP”) range","page_number":25,"box":{"x":521,"y":198,"width":421,"height":10}},{"id":"e0c00e9c-edb0-449a-bade-4597c7783860","block_type":"box","text":"and aims to achieve a high level of risk and return relative to","page_number":25,"box":{"x":521,"y":212,"width":421,"height":10}},{"id":"f765b5bf-0df5-4664-bdcc-2252458b2707","block_type":"box","text":"other funds in the GMAP range as further described in the","page_number":25,"box":{"x":521,"y":226,"width":421,"height":10}},{"id":"4dd5e809-1d9f-4310-9331-111285f9c764","block_type":"box","text":"investment strategy. The performance comparator for the","page_number":25,"box":{"x":522,"y":241,"width":420,"height":10}},{"id":"866bf876-e98a-4d7e-a76e-212821ca1a5e","block_type":"box","text":"Fund is the IA Mixed Investment 40–85% Shares sector (“IA","page_number":25,"box":{"x":522,"y":255,"width":420,"height":10}},{"id":"5a798307-0b23-40ec-a410-f33fa1291616","block_type":"box","text":"Sector”). Funds in the IA Sector must invest between 40% and","page_number":25,"box":{"x":522,"y":269,"width":419,"height":10}},{"id":"830efd56-2980-40ad-9e7e-9581d900be89","block_type":"box","text":"85% of their assets in shares. The Fund’s assets are generally","page_number":25,"box":{"x":522,"y":283,"width":420,"height":10}},{"id":"eaaaefc0-4709-495b-af18-9e8ad7070a19","block_type":"box","text":"consistent with these investment parameters therefore the IA","page_number":25,"box":{"x":522,"y":298,"width":420,"height":10}},{"id":"3010b554-d989-4eb2-9dfc-f15ef645a6c9","block_type":"box","text":"Sector is considered appropriate as a performance comparator.","page_number":25,"box":{"x":522,"y":312,"width":419,"height":10}},{"id":"6790d2ca-0757-45f8-9ceb-82dd8a61c7b0","block_type":"box","text":"Management of the Fund is not restricted by the use of the IA","page_number":25,"box":{"x":522,"y":326,"width":420,"height":10}},{"id":"b919d9df-f26c-465d-835c-14cad46f4cc5","block_type":"box","text":"Sector as a performance comparator.","page_number":25,"box":{"x":522,"y":340,"width":251,"height":10}},{"id":"a7aa51d7-2219-48a9-81e0-81b9ae64b7ad","block_type":"box","text":"Performance overview","page_number":25,"box":{"x":522,"y":367,"width":209,"height":9}},{"id":"3972952a-3ade-4ced-8f25-15170deb04d4","block_type":"box","text":"The Fund outperformed the benchmark during the period","page_number":25,"box":{"x":521,"y":386,"width":420,"height":10}},{"id":"b7df2a19-cb46-4ca8-a40b-b2f727871647","block_type":"box","text":"under review.","page_number":25,"box":{"x":522,"y":400,"width":88,"height":8}},{"id":"e4893350-a4ea-49e4-b030-2830adf2d031","block_type":"box","text":"Market overview","page_number":25,"box":{"x":522,"y":427,"width":154,"height":9}},{"id":"75c19f3e-9929-432b-a4b7-5e4445026680","block_type":"box","text":"Geopolitical tensions in the Middle East were a key driver of","page_number":25,"box":{"x":522,"y":445,"width":421,"height":10}},{"id":"28bde95f-c10d-42b2-b680-1c79b4e8200e","block_type":"box","text":"markets over the period, which saw commodities rise materially","page_number":25,"box":{"x":522,"y":460,"width":420,"height":10}},{"id":"ef90e03a-4078-473e-bf83-dd8e15c8f436","block_type":"box","text":"over the start of the year. Despite this, global equity markets","page_number":25,"box":{"x":521,"y":474,"width":421,"height":10}},{"id":"b30e45dc-0084-4277-8e70-a18d59c44b10","block_type":"box","text":"performed well over the period, with euphoria around Artificial","page_number":25,"box":{"x":522,"y":488,"width":419,"height":10}},{"id":"bbbbba5b-5439-4176-9b5e-52e6f524a269","block_type":"box","text":"Intelligence (AI) once again boosting investor sentiment.","page_number":25,"box":{"x":522,"y":502,"width":419,"height":10}},{"id":"0c6e55fc-32d3-408e-8e55-cbc6b298c71f","block_type":"box","text":"Semiconductor companies, which are at the heart of the AI","page_number":25,"box":{"x":522,"y":517,"width":419,"height":10}},{"id":"5481abf1-9b34-4ea5-aada-3ab40a47704a","block_type":"box","text":"infrastructure buildout, were beneficiaries, rising sharply over","page_number":25,"box":{"x":522,"y":531,"width":421,"height":10}},{"id":"10a621a0-b945-43eb-a778-4768445fc0c7","block_type":"box","text":"Q2. Bond yields ended the period higher, as rising inflation risk","page_number":25,"box":{"x":522,"y":545,"width":420,"height":10}},{"id":"39f3e131-af3e-4d8e-a20d-3b5ac15f969c","block_type":"box","text":"saw markets moved to price in interest rate hikes from global","page_number":25,"box":{"x":521,"y":559,"width":420,"height":10}},{"id":"54edfe4e-6d68-409c-ae03-8e73f833c421","block_type":"box","text":"central banks.","page_number":25,"box":{"x":522,"y":574,"width":93,"height":8}},{"id":"05cf7a64-8e82-47b0-a69f-b7eaac25cce7","block_type":"box","text":"Royal London GMAP Balanced Fund","page_number":25,"box":{"x":59,"y":94,"width":519,"height":17}},{"id":"39dcce83-6a66-4568-827b-94a41c174f54","block_type":"box","text":"Royal London GMAP Balanced Fund | Royal London Multi-Asset Funds ICVC","page_number":25,"box":{"x":503,"y":33,"width":410,"height":8}},{"id":"01777c30-b69b-4ff0-acb1-2ab505246b02","block_type":"box","text":"25","page_number":25,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"24410df7-e345-44eb-b56e-da2b828412a3","block_type":"box","text":"Manager’s Investment Report","page_number":26,"box":{"x":58,"y":94,"width":352,"height":14}},{"id":"1dfce8d4-68e7-4097-aa0f-a4b0b28f4f2b","block_type":"box","text":"(continued)","page_number":26,"box":{"x":415,"y":97,"width":75,"height":10}},{"id":"0dc89827-cc10-4f4f-9ad1-debc62aa39f2","block_type":"box","text":"Portfolio commentary","page_number":26,"box":{"x":58,"y":151,"width":198,"height":11}},{"id":"4675aca2-b172-4d4b-afcd-c2acdf76f1ab","block_type":"box","text":"Having begun the year with a tactically overweight position in","page_number":26,"box":{"x":58,"y":169,"width":419,"height":10}},{"id":"9e0b9560-311a-4537-8a80-14dd261dfa8f","block_type":"box","text":"equities, the Fund moved to a more defensive position towards","page_number":26,"box":{"x":57,"y":184,"width":421,"height":10}},{"id":"974b10b2-a44b-420f-a7b6-6b3091edd4cf","block_type":"box","text":"the end of the first quarter, noting the sharp rise of uncertainty","page_number":26,"box":{"x":57,"y":198,"width":421,"height":10}},{"id":"97e7de2f-0753-496f-9047-e4be79d3c822","block_type":"box","text":"which accompanied the onset of the war between US and Iran.","page_number":26,"box":{"x":57,"y":212,"width":420,"height":10}},{"id":"206cd509-45d5-48bd-84ea-1ad87038ad29","block_type":"box","text":"This saw the Fund move to a tactically underweight position","page_number":26,"box":{"x":57,"y":226,"width":420,"height":10}},{"id":"57690e84-583a-45eb-b975-c23546aa6fcd","block_type":"box","text":"heading into the Spring. The Fund shortly added back to","page_number":26,"box":{"x":58,"y":241,"width":420,"height":10}},{"id":"2fd3a023-86ff-4810-8ff2-5f15ba4c8d0d","block_type":"box","text":"equities at the lower levels, as investor sentiment started to","page_number":26,"box":{"x":57,"y":255,"width":420,"height":10}},{"id":"dd387d57-f869-4902-b484-49dd602b6665","block_type":"box","text":"improve from oversold levels on renewed AI enthusiasm.","page_number":26,"box":{"x":58,"y":269,"width":380,"height":10}},{"id":"7d2799e6-10cf-4f48-b30d-5ae176294984","block_type":"box","text":"At the regional level, tactical positioning has mostly been","page_number":26,"box":{"x":57,"y":290,"width":420,"height":10}},{"id":"2500fd2b-5bd2-4b09-a2d6-be4f72b8754d","block_type":"box","text":"overweight Japan, the US and emerging markets supported","page_number":26,"box":{"x":57,"y":304,"width":420,"height":10}},{"id":"fb86efdf-9838-42ac-baaf-0744be7b84f7","block_type":"box","text":"by strong earnings and the enthusiasm around AI stocks.","page_number":26,"box":{"x":58,"y":319,"width":419,"height":10}},{"id":"1caf3326-8cc6-4697-9584-9af29bcec49b","block_type":"box","text":"The Fund has also remained tactically underweight Europe","page_number":26,"box":{"x":57,"y":333,"width":420,"height":10}},{"id":"ad54e93c-7521-4f30-9407-2d0ddf22f3ed","block_type":"box","text":"throughout most of the period as earnings continued to be","page_number":26,"box":{"x":57,"y":347,"width":420,"height":10}},{"id":"b0df4e96-c1fd-4143-bccc-5abd9aed20af","block_type":"box","text":"lacklustre and the region suffered with its greater sensitivity to","page_number":26,"box":{"x":58,"y":361,"width":419,"height":10}},{"id":"da8f890e-50f2-4066-bed5-a9f119cd0120","block_type":"box","text":"the higher energy prices.","page_number":26,"box":{"x":57,"y":376,"width":167,"height":10}},{"id":"ad70ff73-a5ba-4c03-8744-f132cf572ee6","block_type":"box","text":"Elsewhere, our strategic allocation to commodities proved","page_number":26,"box":{"x":58,"y":397,"width":419,"height":10}},{"id":"3c3be643-a88c-4e0f-b543-f215d9b3ce07","block_type":"box","text":"beneficial particularly in the early months of 2026, as the","page_number":26,"box":{"x":58,"y":411,"width":419,"height":10}},{"id":"b82d4d7d-28d5-4f34-89e5-415e30fac290","block_type":"box","text":"asset class surged over the quarter as escalating geopolitical","page_number":26,"box":{"x":57,"y":425,"width":420,"height":10}},{"id":"e8f05942-a135-4aeb-86cf-7f0562491f1b","block_type":"box","text":"tensions culminated in direct military conflict with Iran. Brent","page_number":26,"box":{"x":57,"y":439,"width":421,"height":10}},{"id":"780d6057-b232-4ce8-ae12-b1408904be07","block_type":"box","text":"crude recorded its largest quarterly gain since the Gulf War in","page_number":26,"box":{"x":57,"y":454,"width":420,"height":10}},{"id":"aa28c0f4-1926-49c2-a66e-b931aacb1168","block_type":"box","text":"1990 (+94%).","page_number":26,"box":{"x":58,"y":468,"width":87,"height":10}},{"id":"77730839-33a7-4cef-9eae-e6eb55fb3e07","block_type":"box","text":"Gold had been held as a separate tactical position heading","page_number":26,"box":{"x":57,"y":489,"width":420,"height":10}},{"id":"57d8d8be-027c-41da-a367-07dae28f816a","block_type":"box","text":"into the year before being fully removed towards the end of","page_number":26,"box":{"x":58,"y":503,"width":421,"height":10}},{"id":"62c54784-0af1-4e65-aa0c-7ee172033a72","block_type":"box","text":"March. The position had continued to add value in the Fund,","page_number":26,"box":{"x":58,"y":518,"width":419,"height":9}},{"id":"8353f876-afb7-475a-a36f-24015f084ae9","block_type":"box","text":"benefitting last year from a backdrop of elevated risks around","page_number":26,"box":{"x":58,"y":532,"width":419,"height":10}},{"id":"3abc3d30-304c-4cef-adcb-f4355bb9423e","block_type":"box","text":"geopolitics and US policy.","page_number":26,"box":{"x":57,"y":546,"width":173,"height":10}},{"id":"17346d91-6fe9-4172-9da7-c6753c722086","block_type":"box","text":"Investment outlook","page_number":26,"box":{"x":522,"y":151,"width":179,"height":9}},{"id":"f3a01f13-823d-4474-b066-b18eb2b8581b","block_type":"box","text":"The Investment Clock is in Stagflation, reflecting the high oil","page_number":26,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"ba4da315-2e2f-43ad-9a1f-68346c036a4a","block_type":"box","text":"price and weaker business surveys amid the still uncertain US","page_number":26,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"cee0a4e1-a514-421c-bc68-96c7a335aa35","block_type":"box","text":"Iran conflict.","page_number":26,"box":{"x":522,"y":198,"width":81,"height":8}},{"id":"36770d34-c417-4187-b68a-efb857808516","block_type":"box","text":"Energy prices retreated last quarter on signs of a fragile","page_number":26,"box":{"x":522,"y":219,"width":420,"height":10}},{"id":"0721db99-b5a4-4893-b224-2b032ba439b1","block_type":"box","text":"peace deal, but tensions have since risen again. Commodities","page_number":26,"box":{"x":522,"y":233,"width":420,"height":10}},{"id":"20c32877-ccab-4c81-a51b-0df9945d62f3","block_type":"box","text":"remain a good hedge against a renewed flare up in geopolitical","page_number":26,"box":{"x":522,"y":247,"width":419,"height":10}},{"id":"ff5d69a7-70f6-41fd-8c68-0f6d483cbc53","block_type":"box","text":"tensions and spikes in inflation.","page_number":26,"box":{"x":521,"y":262,"width":210,"height":10}},{"id":"b00bbe00-dc0c-489b-a141-84b2e70160d6","block_type":"box","text":"The AI boom is raising corporate earnings of technology","page_number":26,"box":{"x":521,"y":283,"width":421,"height":10}},{"id":"122fa257-d87a-4c00-a30f-f19182d0d3fb","block_type":"box","text":"stocks. Cycle-adjusted valuations are near dot com era levels.","page_number":26,"box":{"x":521,"y":297,"width":420,"height":10}},{"id":"b5d8d15a-44e1-46ab-b819-21fab8466c57","block_type":"box","text":"Innovation waves often get overblown in financial markets,","page_number":26,"box":{"x":522,"y":311,"width":419,"height":10}},{"id":"8883d54e-4ffc-4c7b-98f9-8cda117b5f37","block_type":"box","text":"even when their long-term impact is transformative.","page_number":26,"box":{"x":521,"y":325,"width":345,"height":10}},{"id":"e4ec476a-a3c8-4a50-bfc8-ab660bb802fa","block_type":"box","text":"Tactically, we maintain a moderate overweight position in","page_number":26,"box":{"x":521,"y":346,"width":420,"height":10}},{"id":"02d785f7-b437-4994-ba14-ccb4dacc26df","block_type":"box","text":"equities and underweight position in government bonds.","page_number":26,"box":{"x":521,"y":361,"width":377,"height":10}},{"id":"1af3b155-fab8-4dac-aaed-612b0ff55521","block_type":"box","text":"Please see our Investment Clock blog at www.rlam.com for our","page_number":26,"box":{"x":522,"y":382,"width":421,"height":10}},{"id":"30f09f1a-d642-4c8c-b43e-4e79dbc266a5","block_type":"box","text":"latest views.","page_number":26,"box":{"x":522,"y":396,"width":81,"height":8}},{"id":"1e471ded-d8f0-4b77-9379-935e4b50cebd","block_type":"box","text":"Trevor Greetham","page_number":26,"box":{"x":521,"y":438,"width":122,"height":8}},{"id":"a9e31c79-f318-4738-a6b8-217faaf5157a","block_type":"box","text":"Fund Manager","page_number":26,"box":{"x":522,"y":452,"width":104,"height":10}},{"id":"cbc979b9-f4da-4159-a696-050fb14ad03a","block_type":"box","text":"Royal London Asset Management Limited","page_number":26,"box":{"x":522,"y":466,"width":303,"height":10}},{"id":"84a9b095-5742-4c1c-b1d3-802c6fa0b7ea","block_type":"box","text":"30","page_number":26,"box":{"x":522,"y":481,"width":15,"height":7}},{"id":"ded17343-c069-454e-b2f8-f884ac4c96cb","block_type":"box","text":"June 2026","page_number":26,"box":{"x":542,"y":481,"width":74,"height":7}},{"id":"d46ff4f6-f805-4f58-87dc-60a31106de0a","block_type":"box","text":"Please note that this commentary is written as at end of the","page_number":26,"box":{"x":522,"y":515,"width":420,"height":10}},{"id":"adafc50e-b394-4602-9de2-213d4f9bba05","block_type":"box","text":"review period. For insights into market events or positioning","page_number":26,"box":{"x":522,"y":528,"width":419,"height":10}},{"id":"325cb39c-bf2c-4497-9158-bcb979af361e","block_type":"box","text":"since then, please go to www.rlam.com.","page_number":26,"box":{"x":521,"y":541,"width":270,"height":10}},{"id":"316e5249-ffa1-423b-a780-6b2f0b149078","block_type":"box","text":"This report covers investment performance, activity and","page_number":26,"box":{"x":521,"y":557,"width":420,"height":10}},{"id":"2f04ff39-87ef-405c-a73a-0dd80025569a","block_type":"box","text":"outlook. For a wider look at the Fund, our Annual Assessment","page_number":26,"box":{"x":521,"y":570,"width":421,"height":10}},{"id":"c4702f5b-e8c0-4653-9952-5da579e78f8e","block_type":"box","text":"of Value report is available at www.rlam.com.","page_number":26,"box":{"x":521,"y":583,"width":306,"height":10}},{"id":"7b345963-6795-41ed-a577-f4455981e7b0","block_type":"box","text":"For further help on some of the terms used, please see our","page_number":26,"box":{"x":522,"y":600,"width":421,"height":10}},{"id":"f2c1e753-1361-4ffe-b477-45f1dcbad83d","block_type":"box","text":"glossary at www.rlam.com/uk/individual-investors/glossary.","page_number":26,"box":{"x":521,"y":613,"width":400,"height":10}},{"id":"3d8e3cd9-41f3-462d-a6a8-f5184c54167a","block_type":"box","text":"The Task Force on Climate-related Financial Disclosures","page_number":26,"box":{"x":521,"y":629,"width":421,"height":8}},{"id":"d3d68792-13fe-4a98-a2db-2ed259ba7210","block_type":"box","text":"(TCFD) Report can be found under the relevant Fund name","page_number":26,"box":{"x":522,"y":642,"width":420,"height":10}},{"id":"72bd75ce-a9f8-4c67-b10c-c70a5301e09a","block_type":"box","text":"at","page_number":26,"box":{"x":521,"y":656,"width":13,"height":7}},{"id":"75d6ee54-cd6f-4b92-84d7-ebd3bf926ee1","block_type":"box","text":"https://www.rlam.com/uk/individual-investors/funds","page_number":26,"box":{"x":545,"y":655,"width":392,"height":10}},{"id":"7e0f8f8f-4ef5-4254-8818-2d5c3b906cf1","block_type":"box","text":".","page_number":26,"box":{"x":940,"y":662,"width":1,"height":1}},{"id":"de490e6f-daf0-4cd8-8e8b-bdeaea24dafc","block_type":"box","text":"This report has been prepared in accordance with the","page_number":26,"box":{"x":521,"y":669,"width":421,"height":9}},{"id":"c56c8b1c-5397-4206-88f0-dbca81214e35","block_type":"box","text":"recommendations of the TCFD, which aims to help the","page_number":26,"box":{"x":522,"y":682,"width":420,"height":9}},{"id":"b0c3019f-4971-4e09-bcd3-109d66bfe7ac","block_type":"box","text":"investment community build a more in-depth and consistent","page_number":26,"box":{"x":522,"y":695,"width":420,"height":10}},{"id":"810a64b3-e8e7-4a79-895d-b1ac97bbaa63","block_type":"box","text":"picture of the impact of climate change. A copy of Royal","page_number":26,"box":{"x":522,"y":708,"width":419,"height":10}},{"id":"f3cd299e-2b3f-4d63-8dc4-a656efe774ac","block_type":"box","text":"London Asset Management Limited’s annual TCFD Report","page_number":26,"box":{"x":522,"y":721,"width":420,"height":10}},{"id":"54ccddf1-e91a-4c8a-9c4c-f2422838f8ac","block_type":"box","text":"can also be found on our website.","page_number":26,"box":{"x":522,"y":734,"width":227,"height":8}},{"id":"18a2807d-b94a-4256-9764-26c566ef1d6e","block_type":"box","text":"The views expressed are the author’s own and do not","page_number":26,"box":{"x":521,"y":750,"width":421,"height":10}},{"id":"b047e1c6-01a9-499e-8751-b6b575cf0776","block_type":"box","text":"constitute investment advice and are not an indication","page_number":26,"box":{"x":522,"y":763,"width":419,"height":8}},{"id":"7fa2b59d-7a97-4ddf-92cb-76f83899a673","block_type":"box","text":"of future Fund performance. Portfolio holdings are","page_number":26,"box":{"x":521,"y":776,"width":421,"height":10}},{"id":"eeb72fce-2a0f-4ecf-8753-675e67f9e2c6","block_type":"box","text":"subject to change, for information only and are not","page_number":26,"box":{"x":521,"y":789,"width":421,"height":10}},{"id":"cab204b1-cb7b-4b98-83af-7720dc9ac5f2","block_type":"box","text":"investment recommendations.","page_number":26,"box":{"x":522,"y":803,"width":202,"height":7}},{"id":"061a9cc0-de6b-476f-8eee-6bf4587f9b82","block_type":"box","text":"Source: Royal London Asset Management Limited, unless","page_number":26,"box":{"x":522,"y":819,"width":392,"height":10}},{"id":"8f3fb9de-2afd-4a3e-8047-14a78fa95c73","block_type":"box","text":"otherwise stated.","page_number":26,"box":{"x":521,"y":832,"width":115,"height":8}},{"id":"66727d8f-ff8c-4ac3-9d01-a77661c370cc","block_type":"box","text":"Royal London GMAP Balanced Fund | Royal London Multi-Asset Funds ICVC","page_number":26,"box":{"x":503,"y":33,"width":410,"height":8}},{"id":"87bf6676-8e86-4df8-98fd-f46c49179e00","block_type":"box","text":"26","page_number":26,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"afb8a1a4-292b-40e2-82ca-a0c55c963f88","block_type":"box","text":"Class M Accumulation","page_number":27,"box":{"x":57,"y":151,"width":206,"height":9}},{"id":"855bb270-db20-4235-b9c4-b14cbb7ec2a5","block_type":"box","text":"Change in net assets","page_number":27,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"158c9b8c-b283-4877-a176-4e76aedeb25c","block_type":"box","text":"30/06/26","page_number":27,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"11ef1418-1733-4581-9ac9-236e2540d35e","block_type":"box","text":"31/12/25","page_number":27,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"6a37bf43-fd8b-49bd-9357-56ff252292f6","block_type":"box","text":"31/12/24","page_number":27,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"a4cdffd8-c04a-4ed9-9d28-059b73b524b0","block_type":"box","text":"31/12/23","page_number":27,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"6bb68c9b-1e73-4d2c-8397-f7b32022508b","block_type":"box","text":"per share","page_number":27,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"68eb941b-0304-448b-86c7-fa0ef542d3fe","block_type":"box","text":"(p)","page_number":27,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"4eee42ae-51e7-45ad-9f3c-0bc2720fcd4d","block_type":"box","text":"(p)","page_number":27,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"86e9f6bc-7edc-4e05-bfee-df7c699ac424","block_type":"box","text":"(p)","page_number":27,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"6c89539d-2226-43be-84ad-9622951186bd","block_type":"box","text":"(p)","page_number":27,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"9b95fc18-feee-4479-ac9a-5c73721b1948","block_type":"box","text":"Opening net asset","page_number":27,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"5ebf93cd-7526-4c58-ac74-e221d1f69274","block_type":"box","text":"value per share","page_number":27,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"787b7a04-2e2b-4a73-97fe-a4bb4d884942","block_type":"box","text":"156.28","page_number":27,"box":{"x":223,"y":205,"width":36,"height":6}},{"id":"8e7cc726-cb54-43de-9173-c22823faec40","block_type":"box","text":"145.34","page_number":27,"box":{"x":295,"y":205,"width":35,"height":6}},{"id":"f2402cff-1bfe-4978-859b-737b37df8e48","block_type":"box","text":"136.47","page_number":27,"box":{"x":367,"y":205,"width":34,"height":6}},{"id":"2565ae9c-8158-4669-96ec-5e98139176ac","block_type":"box","text":"127.53","page_number":27,"box":{"x":439,"y":205,"width":34,"height":6}},{"id":"869c7613-1fb1-4e57-8ad6-fdadc72f4f28","block_type":"box","text":"Return before operating","page_number":27,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"695147b4-6eca-48fd-920b-02292d3b50bf","block_type":"box","text":"charges*","page_number":27,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"7b127e0e-481f-47d4-ae0e-2f3d1ab4bca2","block_type":"box","text":"9.42","page_number":27,"box":{"x":236,"y":232,"width":22,"height":6}},{"id":"8bce7cd5-be6a-4643-9b8d-3ba0b45262a6","block_type":"box","text":"11.84","page_number":27,"box":{"x":303,"y":232,"width":27,"height":6}},{"id":"5c646ce8-43ee-4c0b-ba73-80dd175bc99e","block_type":"box","text":"9.72","page_number":27,"box":{"x":379,"y":232,"width":22,"height":6}},{"id":"cca3f359-9b06-4473-ac89-e2b05cbe8f2b","block_type":"box","text":"9.72","page_number":27,"box":{"x":451,"y":232,"width":22,"height":6}},{"id":"5fb3f4d7-d567-4384-bd79-b46d47bfa268","block_type":"box","text":"Operating charges","page_number":27,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"e7927370-d176-47d9-8fcf-c8c480610005","block_type":"box","text":"(0.48)","page_number":27,"box":{"x":233,"y":259,"width":30,"height":8}},{"id":"a79f0a32-95ca-41a1-bd2c-9ebf4c934024","block_type":"box","text":"(0.90)","page_number":27,"box":{"x":304,"y":259,"width":30,"height":8}},{"id":"e71b66e6-fcdf-4c4d-9c78-334a3530dac7","block_type":"box","text":"(0.85)","page_number":27,"box":{"x":375,"y":259,"width":30,"height":8}},{"id":"f7fa1c73-8516-4be7-9d1b-998e42c22bd8","block_type":"box","text":"(0.78)","page_number":27,"box":{"x":447,"y":259,"width":30,"height":8}},{"id":"f7b6f169-d188-4654-928c-6c8b280d15b6","block_type":"box","text":"Return after operating","page_number":27,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"4a3b367c-12c8-4831-a39a-b3b1e9f139d4","block_type":"box","text":"charges*","page_number":27,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"3b30ce9b-1318-45b0-ba46-3674d9ed88ca","block_type":"box","text":"8.94","page_number":27,"box":{"x":236,"y":276,"width":22,"height":6}},{"id":"0d35ae3e-3f8e-4ad7-b5e6-6ed1b61f368f","block_type":"box","text":"10.94","page_number":27,"box":{"x":302,"y":276,"width":28,"height":6}},{"id":"86c5d708-dc2a-4b5d-bd16-5294b2c359cb","block_type":"box","text":"8.87","page_number":27,"box":{"x":379,"y":276,"width":22,"height":6}},{"id":"dc6a311c-83ae-47f4-84e9-ac400473fc09","block_type":"box","text":"8.94","page_number":27,"box":{"x":450,"y":276,"width":23,"height":6}},{"id":"2dce3299-5a21-4afc-a956-583db3c54eb1","block_type":"box","text":"Distributions on","page_number":27,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"315320cb-5555-43ee-a6be-d0d3f89321d2","block_type":"box","text":"accumulation shares","page_number":27,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"ca2c9e68-1819-462d-ba02-c88ffb95259d","block_type":"box","text":"(1.21)","page_number":27,"box":{"x":234,"y":303,"width":29,"height":8}},{"id":"7e49971e-8add-4dfa-a3b5-e9bf0a239e06","block_type":"box","text":"(3.24)","page_number":27,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"b51c3124-ce5d-400d-96c5-bebd30486acf","block_type":"box","text":"(3.46)","page_number":27,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"b2b776a5-4809-4116-8533-d6ed8a2b40f4","block_type":"box","text":"(2.84)","page_number":27,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"79d6ae0e-02b6-43ae-9ed2-4e8f682d1fc5","block_type":"box","text":"Retained distributions","page_number":27,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"83b41e18-cef1-4943-9121-01cb45145217","block_type":"box","text":"on accumulation shares","page_number":27,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"cdaae437-04c4-4597-8863-de24e2f2f881","block_type":"box","text":"1.21","page_number":27,"box":{"x":237,"y":330,"width":20,"height":6}},{"id":"28410627-562f-4221-a399-7d0577ebced0","block_type":"box","text":"3.24","page_number":27,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"ed119041-ea48-48b4-8af4-ecb3d8120f6a","block_type":"box","text":"3.46","page_number":27,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"8b0c6f4e-4958-4bef-b1ec-2b4e3ff7066d","block_type":"box","text":"2.84","page_number":27,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"b60d6752-8553-4b21-9026-1415571a91d9","block_type":"box","text":"Closing net asset","page_number":27,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"d36b1404-4e6c-4060-a3d6-1dee607f505a","block_type":"box","text":"value per share","page_number":27,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"582e2d61-270f-4fc4-8cdc-682512af95d2","block_type":"box","text":"165.22","page_number":27,"box":{"x":223,"y":357,"width":35,"height":6}},{"id":"8e85ce8d-9dd0-4af8-979d-7a99c8e34df4","block_type":"box","text":"156.28","page_number":27,"box":{"x":294,"y":357,"width":36,"height":6}},{"id":"b89e8777-a6e8-4f65-b9ad-8114f2f09b4b","block_type":"box","text":"145.34","page_number":27,"box":{"x":366,"y":357,"width":36,"height":6}},{"id":"653558ea-d975-4d83-b7dd-73ebf80c6d36","block_type":"box","text":"136.47","page_number":27,"box":{"x":438,"y":357,"width":35,"height":6}},{"id":"ac71f071-0662-47d4-8685-66650a4671c7","block_type":"box","text":"* after direct transaction","page_number":27,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"3400bba8-ce85-4337-aecb-dae0a9e781ac","block_type":"box","text":"costs of:","page_number":27,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"569afede-ddd7-463d-8a78-c9410b096399","block_type":"box","text":"0.02","page_number":27,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"b76b7628-5d9a-4e26-ab0d-703aa9a81e69","block_type":"box","text":"0.04","page_number":27,"box":{"x":307,"y":385,"width":23,"height":6}},{"id":"a6f33cb9-d541-4288-9a85-0215d7c52036","block_type":"box","text":"0.05","page_number":27,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"a75d8eef-bfde-422b-82ed-f14e46d516f4","block_type":"box","text":"0.04","page_number":27,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"98307c4f-1180-4e0c-b224-9dc4ad09a25d","block_type":"box","text":"Performance","page_number":27,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"e744ae60-5db6-4f55-a345-43fa4ceff8f9","block_type":"box","text":"Return after charges","page_number":27,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"18c06c3b-0e2e-4412-8443-22ec2b6cd490","block_type":"box","text":"5.72%","page_number":27,"box":{"x":226,"y":419,"width":32,"height":7}},{"id":"2fb88b97-4f9b-47d0-8611-25bf04343306","block_type":"box","text":"7.53%","page_number":27,"box":{"x":298,"y":419,"width":32,"height":7}},{"id":"83fbbff0-d09c-4cdb-914d-6c46e7c4c6c9","block_type":"box","text":"6.50%","page_number":27,"box":{"x":368,"y":419,"width":33,"height":7}},{"id":"fc54da67-5cd3-4a4c-87b7-3af9c1cc2114","block_type":"box","text":"7.01%","page_number":27,"box":{"x":442,"y":419,"width":31,"height":7}},{"id":"c9739bc2-ffc5-40ff-83c1-8a881ee9554b","block_type":"box","text":"Other information","page_number":27,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"0e3b282a-4605-407f-a47b-4a66983e45f0","block_type":"box","text":"Closing net asset value","page_number":27,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"3a6a7fc2-2f07-4aab-8873-9278cadadce5","block_type":"box","text":"(£’000)","page_number":27,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"2ff52d1c-2fbc-4d44-b9e5-ffa6ac6969fc","block_type":"box","text":"190,178","page_number":27,"box":{"x":219,"y":447,"width":40,"height":7}},{"id":"e0fd6e46-fe84-4f81-8116-56f1b6b7b515","block_type":"box","text":"193,059","page_number":27,"box":{"x":288,"y":447,"width":42,"height":7}},{"id":"59e463de-a955-49f1-b005-360ad5310827","block_type":"box","text":"197,634","page_number":27,"box":{"x":361,"y":447,"width":40,"height":7}},{"id":"a2ef26c2-3176-4a11-9097-fc3ff54a27ad","block_type":"box","text":"159,732","page_number":27,"box":{"x":432,"y":447,"width":41,"height":7}},{"id":"6cb3a505-d980-4f20-95f2-41a2ee51a261","block_type":"box","text":"Closing number of","page_number":27,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"e2aeb488-216e-45dd-affe-6b62931cf63a","block_type":"box","text":"shares","page_number":27,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"40c6cab3-1a8d-436c-8c4a-f3956a9ffbcd","block_type":"box","text":"115,102,714","page_number":27,"box":{"x":200,"y":466,"width":58,"height":7}},{"id":"dd2f0829-1382-42b5-9f2d-29e9fa127a32","block_type":"box","text":"123,537,484","page_number":27,"box":{"x":269,"y":466,"width":61,"height":7}},{"id":"f87e978b-c72d-4fb2-bdbb-2ffa850d920a","block_type":"box","text":"135,980,957","page_number":27,"box":{"x":339,"y":466,"width":62,"height":7}},{"id":"14ad34d2-39dd-44d6-b41f-7a47c67a3b2c","block_type":"box","text":"117,041,778","page_number":27,"box":{"x":415,"y":466,"width":58,"height":7}},{"id":"c402b3ba-37ff-4f42-bcb5-90a3dd9b404b","block_type":"box","text":"Operating charges","page_number":27,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"f33ce5f5-a362-4211-9b4a-c7bd86f40f1a","block_type":"box","text":"0.60%","page_number":27,"box":{"x":225,"y":485,"width":33,"height":6}},{"id":"9098f15f-f19b-48bc-b46c-ae231e0a1ae9","block_type":"box","text":"0.60%","page_number":27,"box":{"x":297,"y":485,"width":33,"height":6}},{"id":"1943b66c-060b-4654-8c49-3c2dbdceceda","block_type":"box","text":"0.60%","page_number":27,"box":{"x":368,"y":485,"width":33,"height":6}},{"id":"21e70b04-0fa5-4183-a375-d593576f622b","block_type":"box","text":"0.60%","page_number":27,"box":{"x":440,"y":485,"width":33,"height":6}},{"id":"ac499cde-61aa-44bb-8526-648dc97f568f","block_type":"box","text":"Direct transaction costs","page_number":27,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"c35f6578-1a50-4658-acf5-c3189cb07856","block_type":"box","text":"0.01%","page_number":27,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"130b52e2-6ffd-4460-b132-5c4783229cb5","block_type":"box","text":"0.03%","page_number":27,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"9265399a-c9bd-4808-ac36-e813b32aa3bf","block_type":"box","text":"0.04%","page_number":27,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"00e4a7ba-f0ce-4eba-af84-5aa985fc0e47","block_type":"box","text":"0.03%","page_number":27,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"b01e4ed3-3687-4962-8b3f-ea01bcb535e6","block_type":"box","text":"Prices","page_number":27,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"ea9cf691-4095-4443-87be-b20d3a4cb52b","block_type":"box","text":"^","page_number":27,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"1789e8db-4508-4536-8f40-3a9e64c94fb5","block_type":"box","text":"Highest share price","page_number":27,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"3452b9c2-a906-40a0-b8d3-7117723c8d76","block_type":"box","text":"166.00","page_number":27,"box":{"x":223,"y":522,"width":35,"height":6}},{"id":"1ebb28b7-fd78-4282-b81b-e4c2f946d220","block_type":"box","text":"157.00","page_number":27,"box":{"x":296,"y":522,"width":34,"height":6}},{"id":"c478559d-781b-429d-b98d-6de2d02f7f7b","block_type":"box","text":"147.10","page_number":27,"box":{"x":370,"y":522,"width":31,"height":6}},{"id":"f45687f8-fa61-45e6-a96e-a4e55886ac6a","block_type":"box","text":"137.00","page_number":27,"box":{"x":439,"y":522,"width":34,"height":6}},{"id":"b2299078-eaa7-4a70-862c-e377774ffaa3","block_type":"box","text":"Lowest share price","page_number":27,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"83531907-5c62-4de6-a64f-b4dd17121e22","block_type":"box","text":"157.00","page_number":27,"box":{"x":225,"y":532,"width":33,"height":6}},{"id":"fd8377bc-2b1f-4b31-a687-f4e9e5bec732","block_type":"box","text":"139.40","page_number":27,"box":{"x":295,"y":532,"width":35,"height":6}},{"id":"cecde12c-59b7-453a-92c0-82a980025584","block_type":"box","text":"134.70","page_number":27,"box":{"x":367,"y":532,"width":34,"height":6}},{"id":"d3c74a1a-15be-40cc-8e46-98916e330aba","block_type":"box","text":"127.40","page_number":27,"box":{"x":439,"y":532,"width":34,"height":6}},{"id":"d7faefbe-92c3-4623-80c5-cceb67c4e9d5","block_type":"box","text":"Class M Income","page_number":27,"box":{"x":57,"y":560,"width":146,"height":9}},{"id":"bf7641e7-4012-492b-8c9e-fc5486c098b8","block_type":"box","text":"Change in net assets","page_number":27,"box":{"x":57,"y":586,"width":120,"height":8}},{"id":"dc8103fc-7c79-4440-88ad-9f48c70e8863","block_type":"box","text":"30/06/26","page_number":27,"box":{"x":212,"y":586,"width":47,"height":6}},{"id":"159f305e-73cb-4426-a173-3057cfc19202","block_type":"box","text":"31/12/25","page_number":27,"box":{"x":285,"y":586,"width":45,"height":6}},{"id":"acc2a1e9-0fe7-40ce-ae31-8809f2b2dc04","block_type":"box","text":"31/12/24","page_number":27,"box":{"x":356,"y":586,"width":46,"height":6}},{"id":"83586a0d-01de-4087-a2b2-75419b5fbffc","block_type":"box","text":"31/12/23","page_number":27,"box":{"x":428,"y":586,"width":45,"height":6}},{"id":"8477ab0a-993c-4100-9f63-4af9f5f88031","block_type":"box","text":"per share","page_number":27,"box":{"x":57,"y":595,"width":54,"height":8}},{"id":"c47ec425-c1b1-47e7-b276-5977387487ba","block_type":"box","text":"(p)","page_number":27,"box":{"x":245,"y":595,"width":13,"height":8}},{"id":"f66851d8-7175-47a2-b988-de10e122314c","block_type":"box","text":"(p)","page_number":27,"box":{"x":316,"y":595,"width":14,"height":8}},{"id":"cfb86621-13b4-4f20-b343-f3d2c75731ec","block_type":"box","text":"(p)","page_number":27,"box":{"x":387,"y":595,"width":14,"height":8}},{"id":"288bcb2c-7acf-4ee2-8c0b-d7579c3a942a","block_type":"box","text":"(p)","page_number":27,"box":{"x":459,"y":595,"width":14,"height":8}},{"id":"9c49c26c-9ed3-4bba-9832-308b203aec6a","block_type":"box","text":"Opening net asset","page_number":27,"box":{"x":57,"y":614,"width":97,"height":8}},{"id":"9236dab6-dca8-4c3b-b50b-dd8fd597fbd0","block_type":"box","text":"value per share","page_number":27,"box":{"x":57,"y":624,"width":82,"height":7}},{"id":"704ae780-2297-4f23-afb8-347567445932","block_type":"box","text":"134.26","page_number":27,"box":{"x":223,"y":614,"width":35,"height":6}},{"id":"24bdd46c-05ac-42f2-ac2d-d519461c9b1a","block_type":"box","text":"127.55","page_number":27,"box":{"x":296,"y":614,"width":34,"height":6}},{"id":"a6cd10cc-4f9d-4023-b013-874daea0170f","block_type":"box","text":"122.68","page_number":27,"box":{"x":366,"y":614,"width":35,"height":6}},{"id":"7c7726bc-1c66-4cd7-9297-667d72d2db6c","block_type":"box","text":"117.08","page_number":27,"box":{"x":440,"y":614,"width":33,"height":6}},{"id":"b0561970-3fbc-4bcd-9a6b-7454784f212c","block_type":"box","text":"Return before operating","page_number":27,"box":{"x":58,"y":641,"width":125,"height":8}},{"id":"a10a8263-cf65-409b-a93d-c64f6ea505cc","block_type":"box","text":"charges*","page_number":27,"box":{"x":57,"y":650,"width":47,"height":8}},{"id":"e31a2c56-7c60-4c2b-a217-d3e98a6a4049","block_type":"box","text":"8.12","page_number":27,"box":{"x":238,"y":641,"width":20,"height":6}},{"id":"fda0799b-e5ec-4819-94fa-70c07add4603","block_type":"box","text":"10.32","page_number":27,"box":{"x":302,"y":641,"width":28,"height":6}},{"id":"cbfb08c0-5408-4f3e-823e-2632ece0cc59","block_type":"box","text":"8.73","page_number":27,"box":{"x":379,"y":641,"width":22,"height":6}},{"id":"229a0c8a-f5a9-44ce-a0f1-60078e174be4","block_type":"box","text":"8.92","page_number":27,"box":{"x":450,"y":641,"width":23,"height":6}},{"id":"ffc0e653-bf58-40d3-b4e1-556a2cc8899f","block_type":"box","text":"Operating charges","page_number":27,"box":{"x":57,"y":668,"width":99,"height":8}},{"id":"bd0ca6e0-9c84-445c-9cdf-7e9f0bbd48e0","block_type":"box","text":"(0.41)","page_number":27,"box":{"x":234,"y":668,"width":29,"height":8}},{"id":"2740f579-7040-471a-8034-3ad661b21aad","block_type":"box","text":"(0.78)","page_number":27,"box":{"x":305,"y":668,"width":29,"height":8}},{"id":"4483b846-2e60-4247-92ad-c65543cd5c4d","block_type":"box","text":"(0.76)","page_number":27,"box":{"x":376,"y":668,"width":29,"height":8}},{"id":"3adc4c74-f913-44cd-9221-57253d67b433","block_type":"box","text":"(0.72)","page_number":27,"box":{"x":447,"y":668,"width":30,"height":8}},{"id":"aba11c96-1f3a-44ea-8286-129079ff8c35","block_type":"box","text":"Return after operating","page_number":27,"box":{"x":58,"y":685,"width":116,"height":8}},{"id":"3549fac9-f635-41ec-959a-b7149e6e18ae","block_type":"box","text":"charges*","page_number":27,"box":{"x":57,"y":695,"width":47,"height":8}},{"id":"bcf9001e-405f-4d45-987b-765ab50578f3","block_type":"box","text":"7.71","page_number":27,"box":{"x":238,"y":686,"width":19,"height":5}},{"id":"9401ada7-bcd1-4b4e-a8dc-9a38e438f6cd","block_type":"box","text":"9.54","page_number":27,"box":{"x":307,"y":686,"width":23,"height":6}},{"id":"3da6c60f-8100-4535-9b2d-493b4404d116","block_type":"box","text":"7.97","page_number":27,"box":{"x":380,"y":686,"width":21,"height":6}},{"id":"9439c96d-e0b5-4f5b-83b3-90c438281a46","block_type":"box","text":"8.20","page_number":27,"box":{"x":450,"y":686,"width":23,"height":6}},{"id":"2a5a3fda-00d8-43a4-8861-997c2e03c9f6","block_type":"box","text":"Distributions on income","page_number":27,"box":{"x":58,"y":713,"width":124,"height":6}},{"id":"b60267fc-4770-4ec9-a3d2-6748599525a6","block_type":"box","text":"shares","page_number":27,"box":{"x":57,"y":722,"width":35,"height":6}},{"id":"2bd1e904-ae59-497c-9bb4-9b728635ceca","block_type":"box","text":"(1.04)","page_number":27,"box":{"x":234,"y":712,"width":29,"height":8}},{"id":"a1d71901-c11d-4d10-8a32-2e5a112649e3","block_type":"box","text":"(2.83)","page_number":27,"box":{"x":304,"y":712,"width":30,"height":8}},{"id":"c0e1d6ff-f3af-4039-95e2-6157dda318ee","block_type":"box","text":"(3.10)","page_number":27,"box":{"x":377,"y":712,"width":28,"height":8}},{"id":"1e326b71-a0f8-40f1-8641-29b2313cd9d7","block_type":"box","text":"(2.60)","page_number":27,"box":{"x":447,"y":712,"width":30,"height":8}},{"id":"91686ef7-f1e1-4102-bd8c-a97a1e7c16b3","block_type":"box","text":"Closing net asset","page_number":27,"box":{"x":57,"y":739,"width":100,"height":8}},{"id":"e7cd3da9-5c20-4194-a223-b4b8f7fa1710","block_type":"box","text":"value per share","page_number":27,"box":{"x":57,"y":749,"width":88,"height":8}},{"id":"07cfb5f9-e252-408c-909e-9c51acf9b532","block_type":"box","text":"140.93","page_number":27,"box":{"x":223,"y":740,"width":36,"height":6}},{"id":"02594f52-ab6b-4304-b90c-c636b0adda77","block_type":"box","text":"134.26","page_number":27,"box":{"x":294,"y":740,"width":36,"height":6}},{"id":"1524fcab-8bc7-4353-8ba5-a8a202cc96b3","block_type":"box","text":"127.55","page_number":27,"box":{"x":367,"y":740,"width":35,"height":6}},{"id":"2fb9874a-fdf2-4ad5-8a57-ba5e7744415e","block_type":"box","text":"122.68","page_number":27,"box":{"x":437,"y":740,"width":36,"height":6}},{"id":"88b19e7b-398f-4403-a543-3f683bb13e54","block_type":"box","text":"* after direct transaction","page_number":27,"box":{"x":57,"y":767,"width":127,"height":6}},{"id":"a156e1dd-a858-4bc2-b1e0-4267dbb88ada","block_type":"box","text":"costs of:","page_number":27,"box":{"x":57,"y":777,"width":44,"height":6}},{"id":"3442d2c2-dcdb-4c0e-adeb-f28340f0d3e6","block_type":"box","text":"0.02","page_number":27,"box":{"x":236,"y":767,"width":22,"height":6}},{"id":"a3507c22-5e51-457b-8afa-dd28db9c995c","block_type":"box","text":"0.04","page_number":27,"box":{"x":307,"y":767,"width":23,"height":6}},{"id":"a410c2d3-5699-47f0-85db-10b46253ca4d","block_type":"box","text":"0.05","page_number":27,"box":{"x":379,"y":767,"width":22,"height":6}},{"id":"70be0e7c-b305-4dcf-91d1-e17a7128862a","block_type":"box","text":"0.04","page_number":27,"box":{"x":450,"y":767,"width":23,"height":6}},{"id":"6159af22-08d6-4c26-84c4-13fae2ded4f7","block_type":"box","text":"Performance","page_number":27,"box":{"x":58,"y":792,"width":73,"height":6}},{"id":"fe466254-2622-4ca9-8b78-167cdb5b2712","block_type":"box","text":"Return after charges","page_number":27,"box":{"x":58,"y":801,"width":108,"height":8}},{"id":"25643e8d-07d1-4e8a-be54-d8a07e79426a","block_type":"box","text":"5.74%","page_number":27,"box":{"x":227,"y":801,"width":31,"height":7}},{"id":"de8064b3-7007-4fa4-ba61-09f4e30c74aa","block_type":"box","text":"7.48%","page_number":27,"box":{"x":298,"y":801,"width":32,"height":7}},{"id":"2743e71f-7250-4271-b77a-58437cc72870","block_type":"box","text":"6.50%","page_number":27,"box":{"x":368,"y":801,"width":33,"height":7}},{"id":"d44ea660-6146-4cde-b8cd-152973b981ff","block_type":"box","text":"7.00%","page_number":27,"box":{"x":441,"y":801,"width":32,"height":7}},{"id":"42ae4b26-1317-43ae-967b-9f634a6e941e","block_type":"box","text":"Other information","page_number":27,"box":{"x":57,"y":819,"width":102,"height":7}},{"id":"5e9c2f85-523c-418a-a987-7fa7e9b12dd4","block_type":"box","text":"Closing net asset value","page_number":27,"box":{"x":57,"y":829,"width":123,"height":8}},{"id":"07d58f2a-0785-4470-8a20-7af97c51ea4a","block_type":"box","text":"(£’000)","page_number":27,"box":{"x":57,"y":838,"width":37,"height":8}},{"id":"7519e960-76a7-4f4c-8391-1d9bb2752e7b","block_type":"box","text":"8,427","page_number":27,"box":{"x":230,"y":829,"width":28,"height":7}},{"id":"bc17e119-4a82-47f1-963a-c30825e1411e","block_type":"box","text":"9,336","page_number":27,"box":{"x":301,"y":829,"width":29,"height":7}},{"id":"8592fd44-3262-4e18-9cf8-c5b90b800816","block_type":"box","text":"8,679","page_number":27,"box":{"x":372,"y":829,"width":29,"height":7}},{"id":"d2519c94-d3ab-45fb-bdc3-fffc83931a1e","block_type":"box","text":"6,426","page_number":27,"box":{"x":444,"y":829,"width":29,"height":7}},{"id":"a17e0ede-9aba-475e-a534-bce13d679459","block_type":"box","text":"Closing number of","page_number":27,"box":{"x":57,"y":848,"width":98,"height":8}},{"id":"9b6bcb80-f6b2-4734-bf20-e4d67afa17b0","block_type":"box","text":"shares","page_number":27,"box":{"x":57,"y":857,"width":35,"height":6}},{"id":"3d890855-afa7-4c25-a0cb-125f15edec09","block_type":"box","text":"5,979,763","page_number":27,"box":{"x":207,"y":848,"width":51,"height":7}},{"id":"5a6dd07f-e819-4bf8-86b1-72c96db06019","block_type":"box","text":"6,953,640","page_number":27,"box":{"x":276,"y":848,"width":54,"height":7}},{"id":"1f48f2d0-c09c-4675-9c6c-963f2dbcf7d9","block_type":"box","text":"6,804,713","page_number":27,"box":{"x":350,"y":848,"width":51,"height":7}},{"id":"e48d13db-80a9-40e0-b379-723a563d067c","block_type":"box","text":"5,238,261","page_number":27,"box":{"x":420,"y":848,"width":51,"height":7}},{"id":"ac710bfd-8b0e-42d4-8256-22e816eee484","block_type":"box","text":"Operating charges","page_number":27,"box":{"x":57,"y":867,"width":99,"height":8}},{"id":"eb604cfc-852c-4874-8c35-15f374437ed2","block_type":"box","text":"0.60%","page_number":27,"box":{"x":225,"y":867,"width":33,"height":6}},{"id":"fbb37606-7002-4d57-99a9-d75fe213c9c8","block_type":"box","text":"0.60%","page_number":27,"box":{"x":297,"y":867,"width":33,"height":6}},{"id":"f7f79552-a256-486d-ac7f-99da7a47f4c3","block_type":"box","text":"0.60%","page_number":27,"box":{"x":368,"y":867,"width":33,"height":6}},{"id":"630491c8-dcbc-4d77-a671-eb03262c5423","block_type":"box","text":"0.60%","page_number":27,"box":{"x":440,"y":867,"width":33,"height":6}},{"id":"c8ea9e77-b084-41e8-af0f-d51d9c1a6aa6","block_type":"box","text":"Direct transaction costs","page_number":27,"box":{"x":58,"y":877,"width":125,"height":6}},{"id":"1b8c1db6-0c09-4e9d-93c0-6c8703c8cc56","block_type":"box","text":"0.01%","page_number":27,"box":{"x":227,"y":877,"width":31,"height":6}},{"id":"06a9e4e8-1d10-45df-bd98-07de028b2fcd","block_type":"box","text":"0.03%","page_number":27,"box":{"x":297,"y":877,"width":33,"height":6}},{"id":"0c91c440-44b8-4372-b12d-88b918c55844","block_type":"box","text":"0.04%","page_number":27,"box":{"x":369,"y":877,"width":32,"height":6}},{"id":"1dbbce65-1ac0-40fb-999f-c38666815329","block_type":"box","text":"0.03%","page_number":27,"box":{"x":440,"y":877,"width":33,"height":6}},{"id":"06b7234c-9457-4601-b5ae-e7f811b24aa5","block_type":"box","text":"Prices","page_number":27,"box":{"x":58,"y":895,"width":35,"height":6}},{"id":"7f1eb482-17dc-4780-a813-9bdb374e9d54","block_type":"box","text":"^","page_number":27,"box":{"x":94,"y":895,"width":3,"height":2}},{"id":"2bdbf329-7f24-41fb-bd74-eb1b87f92782","block_type":"box","text":"Highest share price","page_number":27,"box":{"x":58,"y":904,"width":102,"height":8}},{"id":"dd778637-525e-49e5-baae-4e8931b3639d","block_type":"box","text":"142.60","page_number":27,"box":{"x":224,"y":904,"width":34,"height":6}},{"id":"4198d74f-4100-4a8d-a97b-d6bf7166d566","block_type":"box","text":"136.70","page_number":27,"box":{"x":296,"y":904,"width":34,"height":6}},{"id":"33b260b8-0f8e-42d5-96b9-59953a38881e","block_type":"box","text":"131.20","page_number":27,"box":{"x":367,"y":904,"width":34,"height":6}},{"id":"24fbcabb-077a-4a37-86de-0b99a25e63e6","block_type":"box","text":"125.00","page_number":27,"box":{"x":438,"y":904,"width":35,"height":6}},{"id":"f6821177-6bdf-4339-bcf7-d7cee1d04da2","block_type":"box","text":"Lowest share price","page_number":27,"box":{"x":58,"y":914,"width":99,"height":8}},{"id":"b30b8c70-8661-4b07-9ae0-ab90ac21817e","block_type":"box","text":"134.90","page_number":27,"box":{"x":223,"y":914,"width":35,"height":6}},{"id":"06effaa5-d0e7-41bd-8594-e1762737a206","block_type":"box","text":"122.30","page_number":27,"box":{"x":295,"y":914,"width":35,"height":6}},{"id":"47660eeb-05ca-4874-b81e-0362acb3f902","block_type":"box","text":"121.10","page_number":27,"box":{"x":369,"y":914,"width":32,"height":6}},{"id":"ab9c4a8e-e7a3-46e3-8fbd-28b88c0e9aa8","block_type":"box","text":"117.00","page_number":27,"box":{"x":440,"y":914,"width":33,"height":6}},{"id":"041ab763-1fd2-479d-9c86-c7a55f24d996","block_type":"box","text":"Class P Accumulation","page_number":27,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"640eb522-f8eb-498c-aee1-4ac1d407d958","block_type":"box","text":"Change in net assets","page_number":27,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"2fc9c82d-61fb-4b2a-9180-7e9f57cb0233","block_type":"box","text":"30/06/26","page_number":27,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"a5e9a66d-9886-4423-af88-f1a0680229e1","block_type":"box","text":"31/12/25","page_number":27,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"2a3b2a58-d48e-4a4d-8d36-f3e1169e4339","block_type":"box","text":"31/12/24","page_number":27,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"629af09b-925d-445f-8971-423d7df14712","block_type":"box","text":"31/12/23","page_number":27,"box":{"x":892,"y":177,"width":45,"height":6}},{"id":"678c4dc6-dc25-4fd5-af4d-7581177d0c8b","block_type":"box","text":"per share","page_number":27,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"4cc59b19-644f-4de0-8d19-5afb1de967b3","block_type":"box","text":"(p)","page_number":27,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"388ee93b-755d-4c2a-842b-4018c83207da","block_type":"box","text":"(p)","page_number":27,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"db6f2007-1b34-498f-b553-a58d97e81682","block_type":"box","text":"(p)","page_number":27,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"acb63e8b-5ae6-409b-86e9-e544a7a16ac5","block_type":"box","text":"(p)","page_number":27,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"e684b4c3-49ce-434d-93a4-0979575b42cc","block_type":"box","text":"Opening net asset","page_number":27,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"f9b91477-8bc7-454e-bfe0-19723904cc11","block_type":"box","text":"value per share","page_number":27,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"750b8ed0-2ea1-4c7d-950e-ee7b5e3b1a76","block_type":"box","text":"132.35","page_number":27,"box":{"x":688,"y":205,"width":35,"height":6}},{"id":"89ef3cd6-a6a3-435f-af55-b430aafcae2f","block_type":"box","text":"123.04","page_number":27,"box":{"x":759,"y":205,"width":35,"height":6}},{"id":"7f44e5c1-a029-4652-b40a-d0edf9b3717d","block_type":"box","text":"115.50","page_number":27,"box":{"x":832,"y":205,"width":34,"height":6}},{"id":"affef5a9-2130-45b7-bddb-dccf045b198b","block_type":"box","text":"107.88","page_number":27,"box":{"x":903,"y":205,"width":34,"height":6}},{"id":"649093b4-dfd0-4e87-acb6-8d097e0e9924","block_type":"box","text":"Return before operating","page_number":27,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"7e3ad34a-15ac-4017-b961-3fd0cd6e5b45","block_type":"box","text":"charges*","page_number":27,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"26c4d93a-6fb8-4ee9-ac77-ecf673a99f2d","block_type":"box","text":"7.97","page_number":27,"box":{"x":702,"y":232,"width":21,"height":6}},{"id":"a8c0eb9a-12fc-4753-8087-f86ddaef3c85","block_type":"box","text":"10.00","page_number":27,"box":{"x":766,"y":232,"width":28,"height":6}},{"id":"500b35fe-9a01-4a2f-9433-dc2875527e4f","block_type":"box","text":"8.20","page_number":27,"box":{"x":843,"y":232,"width":23,"height":6}},{"id":"a1a2e1c4-d757-47a7-87e5-bfa6bdf3ee0d","block_type":"box","text":"8.23","page_number":27,"box":{"x":914,"y":232,"width":23,"height":6}},{"id":"affa7e1e-2069-4fc2-8d79-64356970e5f6","block_type":"box","text":"Operating charges","page_number":27,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"b432aca9-642b-4476-bf19-900ca521c821","block_type":"box","text":"(0.37)","page_number":27,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"204326cb-e63b-428b-9e0f-7932b79166b4","block_type":"box","text":"(0.69)","page_number":27,"box":{"x":768,"y":259,"width":30,"height":8}},{"id":"6b3fe88b-c571-402a-a81b-1b8c79dfe10f","block_type":"box","text":"(0.66)","page_number":27,"box":{"x":840,"y":259,"width":30,"height":8}},{"id":"c270afb3-b45d-42ea-b8ca-90619d1c76df","block_type":"box","text":"(0.61)","page_number":27,"box":{"x":912,"y":259,"width":29,"height":8}},{"id":"df5fc113-5521-462f-bcf6-87f4ec605bfd","block_type":"box","text":"Return after operating","page_number":27,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"b286d810-bacc-463a-9556-07fa8395fa14","block_type":"box","text":"charges*","page_number":27,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"0fb311da-25bc-42e7-aeed-4b05b21f0ad1","block_type":"box","text":"7.60","page_number":27,"box":{"x":701,"y":276,"width":22,"height":6}},{"id":"4ae2174b-616c-4637-9bb4-d0a7720de1fa","block_type":"box","text":"9.31","page_number":27,"box":{"x":772,"y":276,"width":21,"height":6}},{"id":"bc0ed81f-5058-4099-8d4f-c6ebb4e884e5","block_type":"box","text":"7.54","page_number":27,"box":{"x":844,"y":276,"width":22,"height":6}},{"id":"5e334070-d135-4a0d-99d7-a7d42457a50a","block_type":"box","text":"7.62","page_number":27,"box":{"x":916,"y":276,"width":21,"height":6}},{"id":"a72a9eae-b66e-41fe-a53b-0ae50881a262","block_type":"box","text":"Distributions on","page_number":27,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"48db5a61-82e1-4fdc-a200-cf8c4239517c","block_type":"box","text":"accumulation shares","page_number":27,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"97ebfa7a-1047-49d2-a1ed-d7f7bf128048","block_type":"box","text":"(1.05)","page_number":27,"box":{"x":698,"y":303,"width":29,"height":8}},{"id":"bd24b962-2a4b-48f1-8748-2a4f3539a9d0","block_type":"box","text":"(2.79)","page_number":27,"box":{"x":769,"y":303,"width":29,"height":8}},{"id":"bb11e4bb-832c-4162-9e70-dddcaca0fd76","block_type":"box","text":"(0.85)","page_number":27,"box":{"x":839,"y":303,"width":31,"height":8}},{"id":"92d710b4-f148-43e6-8977-c238fd3def52","block_type":"box","text":"(2.45)","page_number":27,"box":{"x":911,"y":303,"width":30,"height":8}},{"id":"7a2ead0a-cf67-4dd9-b16c-82e1ae9d863c","block_type":"box","text":"Retained distributions","page_number":27,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"c840e9fc-ba3f-43d1-930e-827cc49c6690","block_type":"box","text":"on accumulation shares","page_number":27,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"bf94bed5-5862-4189-978f-a5e932c9ba6d","block_type":"box","text":"1.05","page_number":27,"box":{"x":702,"y":330,"width":21,"height":6}},{"id":"d985d792-0631-451e-bba2-2eb71ebbe5ea","block_type":"box","text":"2.79","page_number":27,"box":{"x":772,"y":330,"width":22,"height":6}},{"id":"8901e120-1612-4f4b-8bc5-0a2f0acc8fdf","block_type":"box","text":"0.85","page_number":27,"box":{"x":843,"y":330,"width":23,"height":6}},{"id":"58298ff5-c944-4690-a093-4ffb85cf30c5","block_type":"box","text":"2.45","page_number":27,"box":{"x":914,"y":330,"width":23,"height":6}},{"id":"de03e475-576d-4ef7-bbf5-5f5004dceea9","block_type":"box","text":"Closing net asset","page_number":27,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"c9a19be5-700c-4314-93e5-8b86615d7f00","block_type":"box","text":"value per share","page_number":27,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"30182e5e-2d6e-46b4-8aee-b627206d528c","block_type":"box","text":"139.95","page_number":27,"box":{"x":688,"y":357,"width":35,"height":6}},{"id":"3b4ca5f0-075d-42a2-8be3-c97cacd89505","block_type":"box","text":"132.35","page_number":27,"box":{"x":759,"y":357,"width":35,"height":6}},{"id":"3555255d-05b9-4f48-a4a1-d6005aca1539","block_type":"box","text":"123.04","page_number":27,"box":{"x":830,"y":357,"width":36,"height":6}},{"id":"4f64b066-a7cd-4674-b84f-e90e41cac12f","block_type":"box","text":"115.50","page_number":27,"box":{"x":902,"y":357,"width":35,"height":6}},{"id":"b09ff72a-0908-4f3b-8d63-3ea1036496cf","block_type":"box","text":"* after direct transaction","page_number":27,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"226c0776-e5b1-4a93-94ca-6ec484a439aa","block_type":"box","text":"costs of:","page_number":27,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"a9233b1a-5dff-4b5f-a564-004531d87fdc","block_type":"box","text":"0.02","page_number":27,"box":{"x":700,"y":385,"width":23,"height":6}},{"id":"b5852a56-d014-4aff-bf26-f78f2e8426c8","block_type":"box","text":"0.03","page_number":27,"box":{"x":772,"y":385,"width":22,"height":6}},{"id":"d379a67b-8a0d-4b31-82b2-1ac02a5f448f","block_type":"box","text":"0.04","page_number":27,"box":{"x":843,"y":385,"width":23,"height":6}},{"id":"a47c498f-e65e-45e0-b5c7-d39026874e8f","block_type":"box","text":"0.04","page_number":27,"box":{"x":915,"y":385,"width":22,"height":6}},{"id":"3458faa2-740e-4c44-b263-6854977902f9","block_type":"box","text":"Performance","page_number":27,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"3ed763ed-21fc-4d4d-8e72-de63f419bd53","block_type":"box","text":"Return after charges","page_number":27,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"a84aee78-9e0f-4050-a13e-7880633c003c","block_type":"box","text":"5.74%","page_number":27,"box":{"x":691,"y":419,"width":32,"height":7}},{"id":"0c82b576-8101-41be-abac-766875069230","block_type":"box","text":"7.57%","page_number":27,"box":{"x":762,"y":419,"width":32,"height":7}},{"id":"1d121629-4563-4a31-b249-5c0af3f81e81","block_type":"box","text":"6.53%","page_number":27,"box":{"x":832,"y":419,"width":33,"height":7}},{"id":"2265f852-e0b4-4603-98fd-5219fb0bf831","block_type":"box","text":"7.06%","page_number":27,"box":{"x":905,"y":419,"width":32,"height":7}},{"id":"ca0d4d11-3bab-4d76-9795-85cd8bd08087","block_type":"box","text":"Other information","page_number":27,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"bb9f0597-f5dc-4901-8441-9a59881e8778","block_type":"box","text":"Closing net asset value","page_number":27,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"111ba469-a1f3-43af-be8a-8b5f880c55a3","block_type":"box","text":"(£’000)","page_number":27,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"d807e948-0778-40f7-b7af-cf14ecf2d15a","block_type":"box","text":"252","page_number":27,"box":{"x":704,"y":447,"width":19,"height":6}},{"id":"2c1bb9a8-da58-4c73-a113-e8bd1e061d9c","block_type":"box","text":"246","page_number":27,"box":{"x":775,"y":447,"width":19,"height":6}},{"id":"4558087a-9e45-489c-bd2b-f0db52f222da","block_type":"box","text":"402","page_number":27,"box":{"x":846,"y":447,"width":20,"height":6}},{"id":"90b8e108-f716-4a29-8edf-2fe5087a6374","block_type":"box","text":"4,715","page_number":27,"box":{"x":909,"y":447,"width":28,"height":7}},{"id":"e7fb28f4-ae2c-43ba-a7b8-82b803760aac","block_type":"box","text":"Closing number of","page_number":27,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"739625d6-dbed-4396-ba41-b517f75dffc8","block_type":"box","text":"shares","page_number":27,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"c5f7b7d4-a82f-475f-b8c9-00f5319e9cfb","block_type":"box","text":"180,185","page_number":27,"box":{"x":683,"y":466,"width":40,"height":7}},{"id":"da723a46-4ae8-4c7e-ba1b-bb61067efa14","block_type":"box","text":"186,118","page_number":27,"box":{"x":755,"y":466,"width":39,"height":7}},{"id":"1088bf56-63db-4e85-8467-2315048c6f2b","block_type":"box","text":"326,691","page_number":27,"box":{"x":823,"y":466,"width":41,"height":7}},{"id":"f71b5851-0c1b-412e-abc6-9ef8b149ce71","block_type":"box","text":"4,082,376","page_number":27,"box":{"x":884,"y":466,"width":53,"height":7}},{"id":"a5934c88-dca4-41bb-b0a3-5887cf8a33d8","block_type":"box","text":"Operating charges","page_number":27,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"c720df95-88e5-431e-bcb9-3f525d2cc2b5","block_type":"box","text":"0.55%","page_number":27,"box":{"x":690,"y":485,"width":33,"height":6}},{"id":"2212339a-ec2f-4e04-b4b0-7e5a582e7ed1","block_type":"box","text":"0.55%","page_number":27,"box":{"x":761,"y":485,"width":33,"height":6}},{"id":"adedca04-1bf3-47af-a563-ae9111210d29","block_type":"box","text":"0.55%","page_number":27,"box":{"x":833,"y":485,"width":32,"height":6}},{"id":"c4a335cb-832c-4539-812f-d0a23d83e7e7","block_type":"box","text":"0.55%","page_number":27,"box":{"x":904,"y":485,"width":33,"height":6}},{"id":"25706bd4-93dd-4a1c-b976-799f4dc089c8","block_type":"box","text":"Direct transaction costs","page_number":27,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"781fba9a-fc93-4294-b1d5-9ff02a046657","block_type":"box","text":"0.01%","page_number":27,"box":{"x":691,"y":495,"width":32,"height":6}},{"id":"6440e92c-e0f1-4a1e-bd46-6333d4660633","block_type":"box","text":"0.03%","page_number":27,"box":{"x":761,"y":495,"width":33,"height":6}},{"id":"f4ed992c-07cb-46e2-895e-4fd8bc4c00e4","block_type":"box","text":"0.04%","page_number":27,"box":{"x":833,"y":495,"width":32,"height":6}},{"id":"9211c860-a9ba-4752-a2fc-69b0281bd03d","block_type":"box","text":"0.03%","page_number":27,"box":{"x":904,"y":495,"width":33,"height":6}},{"id":"7f2731e0-1116-4fba-8290-7538c029f987","block_type":"box","text":"Prices","page_number":27,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"c49aac0a-3966-4b6c-bb3f-aeca53b6b46d","block_type":"box","text":"^","page_number":27,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"67c0b07a-18d0-4f4f-ad50-e9c1b7b5f74a","block_type":"box","text":"Highest share price","page_number":27,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"356b5684-7552-4164-a80b-bdf55721b3a8","block_type":"box","text":"140.60","page_number":27,"box":{"x":688,"y":522,"width":35,"height":6}},{"id":"a98fd6d5-7691-4f3d-8944-05205d24cae0","block_type":"box","text":"133.00","page_number":27,"box":{"x":759,"y":522,"width":35,"height":6}},{"id":"66338e70-d478-4158-a559-634960abec44","block_type":"box","text":"124.50","page_number":27,"box":{"x":831,"y":522,"width":35,"height":6}},{"id":"2dae58e4-0840-444b-8423-53406dbdc9ac","block_type":"box","text":"115.90","page_number":27,"box":{"x":903,"y":522,"width":34,"height":6}},{"id":"eec1d79e-2c5e-4d7a-8437-7216b507e185","block_type":"box","text":"Lowest share price","page_number":27,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"757691a7-d57b-485f-888c-b16b63b07be6","block_type":"box","text":"132.90","page_number":27,"box":{"x":688,"y":532,"width":35,"height":6}},{"id":"f2eaf396-a692-4f86-ae9e-497bbb284565","block_type":"box","text":"118.00","page_number":27,"box":{"x":760,"y":532,"width":34,"height":6}},{"id":"8ea2d2dd-669d-4e9a-8c3a-d71da0507548","block_type":"box","text":"114.00","page_number":27,"box":{"x":832,"y":532,"width":34,"height":6}},{"id":"e3929fa2-caf1-4180-a1b0-12af7678bf55","block_type":"box","text":"107.80","page_number":27,"box":{"x":903,"y":532,"width":34,"height":6}},{"id":"3f1c38ed-8983-4431-9855-91f839911824","block_type":"box","text":"Comparative Tables","page_number":27,"box":{"x":58,"y":94,"width":236,"height":14}},{"id":"51e338f2-ee7d-4dd8-a191-4c30fe6963ff","block_type":"box","text":"Royal London GMAP Balanced Fund | Royal London Multi-Asset Funds ICVC","page_number":27,"box":{"x":503,"y":33,"width":410,"height":8}},{"id":"5d8d2217-cf12-404e-8782-aa94a3ac8e0c","block_type":"box","text":"27","page_number":27,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"677c528f-f2e0-4370-b0ec-fb6d1ad67efb","block_type":"box","text":"Comparative Tables","page_number":28,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"9fe9760b-ac84-413c-ae82-dadbb674d528","block_type":"box","text":"(continued)","page_number":28,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"c4508222-bb67-46ac-9f2a-2450bfbe1ed7","block_type":"box","text":"Class S Accumulation","page_number":28,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"3732b9c7-9f71-44d9-9115-b06fddca705f","block_type":"box","text":"Change in net assets","page_number":28,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"3d8339b6-f2c4-4e32-be8a-a737aa53ac07","block_type":"box","text":"30/06/26","page_number":28,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"cf25e02d-b905-43d2-8707-e5b4aa022535","block_type":"box","text":"31/12/25","page_number":28,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"18861009-bdc9-4793-bbe7-51fc2e1b53ab","block_type":"box","text":"31/12/24","page_number":28,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"60e78e9d-e17f-4294-8180-3a4216bfb1ee","block_type":"box","text":"31/12/23**","page_number":28,"box":{"x":882,"y":177,"width":55,"height":6}},{"id":"a311beed-b201-4f32-831b-145545e8f385","block_type":"box","text":"per share","page_number":28,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"7840539c-733a-456c-a469-b30d76823c4e","block_type":"box","text":"(p)","page_number":28,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"91a67b25-240f-48cc-9ad5-128c355348c4","block_type":"box","text":"(p)","page_number":28,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"4c448ab7-67ae-4f71-868f-83ca04f8c6b2","block_type":"box","text":"(p)","page_number":28,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"2a1bfb5b-6fb0-47ac-956a-9acbbfec93fc","block_type":"box","text":"(p)","page_number":28,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"2db28afd-8709-4a7e-a335-614d0b9f93b3","block_type":"box","text":"Opening net asset","page_number":28,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"33401fe5-3f1e-4b15-933e-03ba81c89e71","block_type":"box","text":"value per share","page_number":28,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"eddd0093-2d30-436f-97c0-070ba055d9f4","block_type":"box","text":"122.11","page_number":28,"box":{"x":690,"y":205,"width":31,"height":6}},{"id":"b73b2394-a33d-4a86-9b05-0b350648df39","block_type":"box","text":"113.16","page_number":28,"box":{"x":762,"y":205,"width":32,"height":6}},{"id":"e3aede7b-e944-4333-a44b-8ca83c98f2b5","block_type":"box","text":"105.87","page_number":28,"box":{"x":831,"y":205,"width":35,"height":6}},{"id":"39b58f9c-f408-4267-90c2-53b29c177cd2","block_type":"box","text":"100.00","page_number":28,"box":{"x":902,"y":205,"width":35,"height":6}},{"id":"abd88c5f-d2e2-4ad3-8b1f-48c4f240b6fe","block_type":"box","text":"Return before operating","page_number":28,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"7a7fb0e1-2989-4b53-b3fe-73087242f0ab","block_type":"box","text":"charges*","page_number":28,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"5675d17d-c416-4974-80bf-9ac88b3f9cd4","block_type":"box","text":"7.29","page_number":28,"box":{"x":701,"y":232,"width":22,"height":6}},{"id":"70749ba7-18df-4056-9f3a-5ec565adf133","block_type":"box","text":"9.12","page_number":28,"box":{"x":773,"y":232,"width":21,"height":6}},{"id":"bfd8652c-7f78-48dc-a922-88015a43d349","block_type":"box","text":"7.46","page_number":28,"box":{"x":844,"y":232,"width":22,"height":6}},{"id":"a40600d4-0ea3-4c17-986a-c59a67792438","block_type":"box","text":"5.97","page_number":28,"box":{"x":915,"y":232,"width":22,"height":6}},{"id":"a04b492d-0368-4470-bb13-c1938110f3b2","block_type":"box","text":"Operating charges","page_number":28,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"72f83c58-0f9c-4c83-9a8c-4d7b45f1b926","block_type":"box","text":"(0.09)","page_number":28,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"c70437cd-04d1-4f87-9b7c-b96519df15de","block_type":"box","text":"(0.17)","page_number":28,"box":{"x":770,"y":259,"width":28,"height":8}},{"id":"3da9b78b-157e-41c4-abdc-2f808e30137a","block_type":"box","text":"(0.17)","page_number":28,"box":{"x":841,"y":259,"width":29,"height":8}},{"id":"6ca21bc4-465c-4e9c-91ad-16769e53268b","block_type":"box","text":"(0.10)","page_number":28,"box":{"x":913,"y":259,"width":28,"height":8}},{"id":"1bff1dcf-d376-47a2-8c56-1bfeaae308be","block_type":"box","text":"Return after operating","page_number":28,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"09ad3d8b-c202-4856-8dff-d4eb1c177a5d","block_type":"box","text":"charges*","page_number":28,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"0e7071bc-18ef-4fbc-afb2-5bd895688ddf","block_type":"box","text":"7.20","page_number":28,"box":{"x":701,"y":276,"width":22,"height":6}},{"id":"ac526655-2d28-4ed6-9c8f-578b71849495","block_type":"box","text":"8.95","page_number":28,"box":{"x":772,"y":276,"width":22,"height":6}},{"id":"85fa8f40-2473-4c65-a122-71e1ec3d66cb","block_type":"box","text":"7.29","page_number":28,"box":{"x":844,"y":276,"width":22,"height":6}},{"id":"ac33f884-8e08-49c5-aef8-6470575a8653","block_type":"box","text":"5.87","page_number":28,"box":{"x":915,"y":276,"width":22,"height":6}},{"id":"abecdcb2-77bb-41cd-b7da-17f672ed1320","block_type":"box","text":"Distributions on","page_number":28,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"c33433c8-8eb6-443c-a0cd-764ce3ebc3d5","block_type":"box","text":"accumulation shares","page_number":28,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"280a1c0d-f9a9-486c-9701-3a7a7477517a","block_type":"box","text":"(1.17)","page_number":28,"box":{"x":699,"y":303,"width":28,"height":8}},{"id":"c188560a-757d-4ce9-8258-e6217d798082","block_type":"box","text":"(2.95)","page_number":28,"box":{"x":768,"y":303,"width":30,"height":8}},{"id":"148496a2-6ec1-4162-91a6-c923c1d74f0c","block_type":"box","text":"(3.09)","page_number":28,"box":{"x":840,"y":303,"width":30,"height":8}},{"id":"3c743639-479b-4717-b486-b9cb2d5ae896","block_type":"box","text":"(1.72)","page_number":28,"box":{"x":913,"y":303,"width":28,"height":8}},{"id":"0dff1af3-e6e5-442c-bbac-60b8eb6cf51e","block_type":"box","text":"Retained distributions","page_number":28,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"b484e216-9c03-4af8-b469-91270cfdcff8","block_type":"box","text":"on accumulation shares","page_number":28,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"0064c889-844b-46e5-a41e-ae79682572b6","block_type":"box","text":"1.17","page_number":28,"box":{"x":703,"y":330,"width":20,"height":6}},{"id":"801c877b-7283-48b1-bb89-73633a178b03","block_type":"box","text":"2.95","page_number":28,"box":{"x":771,"y":330,"width":23,"height":6}},{"id":"98e5894d-fde0-4fa3-aef6-fd9c05f98648","block_type":"box","text":"3.09","page_number":28,"box":{"x":843,"y":330,"width":23,"height":6}},{"id":"30e39f9e-9e09-4c83-b805-d8ca498f2f00","block_type":"box","text":"1.72","page_number":28,"box":{"x":916,"y":330,"width":21,"height":6}},{"id":"d5b93a49-91ab-421c-baf9-221556f78496","block_type":"box","text":"Closing net asset","page_number":28,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"0a97c15a-7a0c-443f-8117-bd7ef30124f1","block_type":"box","text":"value per share","page_number":28,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"b9bcc302-15b7-48b4-a60a-0ae8d5d46f54","block_type":"box","text":"129.31","page_number":28,"box":{"x":688,"y":357,"width":33,"height":6}},{"id":"ebef2668-ab8c-451c-8194-fb61f1cf5917","block_type":"box","text":"122.11","page_number":28,"box":{"x":761,"y":357,"width":32,"height":6}},{"id":"b0a4ab96-9607-48d9-84ab-4aed6e839ea6","block_type":"box","text":"113.16","page_number":28,"box":{"x":833,"y":357,"width":33,"height":6}},{"id":"0d4c72b5-3518-4453-87a7-7ec52d0f0c32","block_type":"box","text":"105.87","page_number":28,"box":{"x":902,"y":357,"width":35,"height":6}},{"id":"c35ea8f8-0cf0-40d8-9b95-18fed695423c","block_type":"box","text":"* after direct transaction","page_number":28,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"b0e5a309-814c-4699-abca-521e50020972","block_type":"box","text":"costs of:","page_number":28,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"f89d830f-c9aa-44c6-b84e-701642670079","block_type":"box","text":"0.02","page_number":28,"box":{"x":700,"y":385,"width":23,"height":6}},{"id":"e3e18a8a-972a-442d-9123-9fce07402e7f","block_type":"box","text":"0.03","page_number":28,"box":{"x":772,"y":385,"width":22,"height":6}},{"id":"21d323f0-4893-49b6-bfd3-52d01745e813","block_type":"box","text":"0.04","page_number":28,"box":{"x":843,"y":385,"width":23,"height":6}},{"id":"8909d180-b215-4eac-a012-fdbc823be404","block_type":"box","text":"0.03","page_number":28,"box":{"x":915,"y":385,"width":22,"height":6}},{"id":"f73127b0-f7a1-4ffb-ab77-7c33c2e37b04","block_type":"box","text":"Performance","page_number":28,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"b58eca8a-14e6-46b6-ae58-34ca60ef8e96","block_type":"box","text":"Return after charges","page_number":28,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"22db9ad9-e412-4507-9a43-79ce89f63cec","block_type":"box","text":"5.90%","page_number":28,"box":{"x":689,"y":419,"width":34,"height":7}},{"id":"b55b3a62-3966-4643-8b72-27bb2639c347","block_type":"box","text":"7.91%","page_number":28,"box":{"x":763,"y":419,"width":31,"height":7}},{"id":"98f842f3-1080-4a00-a707-5ce35eb75329","block_type":"box","text":"6.89%","page_number":28,"box":{"x":832,"y":419,"width":33,"height":7}},{"id":"f20304c7-ac59-48c3-8f66-75daa69493e7","block_type":"box","text":"5.87%","page_number":28,"box":{"x":904,"y":419,"width":33,"height":7}},{"id":"5daa07ac-b760-498a-96ff-ca6b85556234","block_type":"box","text":"Other information","page_number":28,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"4ea58425-72e3-4686-943c-05852a586f6b","block_type":"box","text":"Closing net asset value","page_number":28,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"e15b785e-264a-4958-813f-63ecc86a3481","block_type":"box","text":"(£’000)","page_number":28,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"12d510ed-0cfc-4b0e-9bfe-0d42f1b5d0a5","block_type":"box","text":"29,713","page_number":28,"box":{"x":688,"y":447,"width":35,"height":7}},{"id":"63d1095c-bb76-4535-8ab3-32adf3774473","block_type":"box","text":"7,830","page_number":28,"box":{"x":766,"y":447,"width":28,"height":7}},{"id":"6677802b-d1b8-4349-9e59-b33c71d34fec","block_type":"box","text":"7,246","page_number":28,"box":{"x":838,"y":447,"width":28,"height":7}},{"id":"7ead277c-975e-4878-ba0c-be75a6f60b5a","block_type":"box","text":"4,918","page_number":28,"box":{"x":908,"y":447,"width":29,"height":7}},{"id":"acdb6b4f-c506-428c-b5c4-6857a1069ec1","block_type":"box","text":"Closing number of","page_number":28,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"53966e45-0558-4401-9a5d-162d6feb0e37","block_type":"box","text":"shares","page_number":28,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"0950a6c2-74d8-4769-b31b-03bfcdb74c22","block_type":"box","text":"22,977,443","page_number":28,"box":{"x":664,"y":466,"width":59,"height":7}},{"id":"1d500270-e9b4-49d0-8219-e3759371f856","block_type":"box","text":"6,411,958","page_number":28,"box":{"x":743,"y":466,"width":51,"height":7}},{"id":"4c57cfa1-3453-4bc0-b4c5-7a091ca774f7","block_type":"box","text":"6,403,949","page_number":28,"box":{"x":812,"y":466,"width":54,"height":7}},{"id":"bc262d5a-d3d3-4210-881f-eff317fdcfe6","block_type":"box","text":"4,644,963","page_number":28,"box":{"x":883,"y":466,"width":54,"height":7}},{"id":"fe77caed-b177-40e0-8a63-de0c09304215","block_type":"box","text":"Operating charges","page_number":28,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"3c5b5a0e-4f78-4ab6-bcf2-075e30ab2cd0","block_type":"box","text":"0.15%","page_number":28,"box":{"x":691,"y":485,"width":32,"height":6}},{"id":"6bf85c66-8ad9-4962-909a-81a2141953b7","block_type":"box","text":"0.15%","page_number":28,"box":{"x":763,"y":485,"width":31,"height":6}},{"id":"9e2bc99b-4653-4a34-b977-ebeb3558c373","block_type":"box","text":"0.15%","page_number":28,"box":{"x":834,"y":485,"width":31,"height":6}},{"id":"951f68be-553e-42cc-9296-627ad5786485","block_type":"box","text":"0.15%","page_number":28,"box":{"x":906,"y":485,"width":31,"height":6}},{"id":"deca8d4c-c4d1-4591-b32c-55d88e311221","block_type":"box","text":"Direct transaction costs","page_number":28,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"ec5d69bb-977a-42bc-85c1-ebf321175c55","block_type":"box","text":"0.01%","page_number":28,"box":{"x":691,"y":495,"width":32,"height":6}},{"id":"fcd50802-f626-474f-9cc2-77e6b579a651","block_type":"box","text":"0.03%","page_number":28,"box":{"x":761,"y":495,"width":33,"height":6}},{"id":"92ecb0e4-1251-432a-818d-40e9b34e1030","block_type":"box","text":"0.04%","page_number":28,"box":{"x":833,"y":495,"width":32,"height":6}},{"id":"99fb7937-8679-43f8-9e63-a6b4dcddf353","block_type":"box","text":"0.03%","page_number":28,"box":{"x":904,"y":495,"width":33,"height":6}},{"id":"a1e24258-7834-41e9-9878-fed4a0512c28","block_type":"box","text":"Prices","page_number":28,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"18f8b220-b029-4727-8d57-481740262cba","block_type":"box","text":"^","page_number":28,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"c4026102-89a5-40e7-89bf-07ad08794714","block_type":"box","text":"Highest share price","page_number":28,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"38d4446a-25b6-4b23-91cc-71e6ce3a4960","block_type":"box","text":"129.90","page_number":28,"box":{"x":688,"y":522,"width":35,"height":6}},{"id":"60ab32e9-7108-46d2-b480-a11c2b2baf1f","block_type":"box","text":"122.70","page_number":28,"box":{"x":760,"y":522,"width":34,"height":6}},{"id":"3d47c87a-1b4b-4c83-bcae-d218c9ebbd21","block_type":"box","text":"113.20","page_number":28,"box":{"x":832,"y":522,"width":34,"height":6}},{"id":"27de304a-18ac-4a19-9614-96016d16f08d","block_type":"box","text":"106.30","page_number":28,"box":{"x":902,"y":522,"width":35,"height":6}},{"id":"27b494ac-b067-4db7-9fb0-0ab827ac6b31","block_type":"box","text":"Lowest share price","page_number":28,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"3fdc0e4d-0786-4f07-bed0-009fe8a06e0f","block_type":"box","text":"122.70","page_number":28,"box":{"x":689,"y":532,"width":34,"height":6}},{"id":"c82e63c3-d4be-4d62-bb70-fdebc5d73f3c","block_type":"box","text":"108.60","page_number":28,"box":{"x":759,"y":532,"width":35,"height":6}},{"id":"723d5546-704d-4e51-9181-b844341d8cca","block_type":"box","text":"104.50","page_number":28,"box":{"x":831,"y":532,"width":35,"height":6}},{"id":"71f3c961-0348-45fe-a453-ac987275d344","block_type":"box","text":"99.48","page_number":28,"box":{"x":908,"y":532,"width":29,"height":6}},{"id":"66969155-206a-4734-a133-bbb2dc12aa2e","block_type":"box","text":"** Class S Accumulation launched on 3 May 2023.","page_number":28,"box":{"x":521,"y":556,"width":267,"height":7}},{"id":"fdd83f7b-40e0-448c-892c-97c8aa8b3c65","block_type":"box","text":"Class R Accumulation","page_number":28,"box":{"x":57,"y":151,"width":203,"height":9}},{"id":"1eb18381-be03-4d0d-9935-d68c4166f4c7","block_type":"box","text":"Change in net assets","page_number":28,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"dab589ea-271f-4978-b1d3-c3d9c5942bbc","block_type":"box","text":"30/06/26","page_number":28,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"2fac5162-10ba-412d-b9b7-e911b64c6a88","block_type":"box","text":"31/12/25","page_number":28,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"af90cdff-c148-42a8-a369-4a9cd3fb4a76","block_type":"box","text":"31/12/24","page_number":28,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"437f50b0-dd20-45b8-9093-4efd0784da65","block_type":"box","text":"31/12/23","page_number":28,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"34ececb2-382e-4798-b9ed-056061a567b6","block_type":"box","text":"per share","page_number":28,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"c428ea85-32da-4b96-b418-f54e8600468f","block_type":"box","text":"(p)","page_number":28,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"0358f71a-1cb5-4beb-9f99-ec71aef58b83","block_type":"box","text":"(p)","page_number":28,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"6bc4610e-bbc7-411a-bfec-093ab6dff079","block_type":"box","text":"(p)","page_number":28,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"4662bcc1-068a-40bb-a76b-2e20e269f694","block_type":"box","text":"(p)","page_number":28,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"7640f839-43a7-4a53-8878-2c58644e98e2","block_type":"box","text":"Opening net asset","page_number":28,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"c47a9e30-97eb-4d3a-a271-ae924b098733","block_type":"box","text":"value per share","page_number":28,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"6ebf84c4-e746-43f2-8204-1f4cd91ee86b","block_type":"box","text":"141.43","page_number":28,"box":{"x":225,"y":205,"width":33,"height":6}},{"id":"474a51c6-c0c1-4c17-8ec7-d826cf5a53da","block_type":"box","text":"131.03","page_number":28,"box":{"x":296,"y":205,"width":34,"height":6}},{"id":"e4fc6c61-caf2-4415-a1b0-37c66f5545ad","block_type":"box","text":"122.59","page_number":28,"box":{"x":366,"y":205,"width":35,"height":6}},{"id":"99275319-98dd-48f3-9fb4-afe2046a09f1","block_type":"box","text":"114.13","page_number":28,"box":{"x":441,"y":205,"width":32,"height":6}},{"id":"71063e94-d7b7-4624-b2c7-e85a50580b5b","block_type":"box","text":"Return before operating","page_number":28,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"5d392a74-bb91-4228-86f2-352e52eba962","block_type":"box","text":"charges*","page_number":28,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"d081d4b8-d826-45e9-a409-9ba15d7f4ced","block_type":"box","text":"8.47","page_number":28,"box":{"x":236,"y":232,"width":22,"height":6}},{"id":"ef6f76d7-0ae3-4318-af32-3f5b0724687c","block_type":"box","text":"10.56","page_number":28,"box":{"x":302,"y":232,"width":28,"height":6}},{"id":"dffe0e0c-ec6d-477a-adea-1f4415538deb","block_type":"box","text":"8.62","page_number":28,"box":{"x":379,"y":232,"width":22,"height":6}},{"id":"8a22c564-f539-4545-b916-b495bea019bb","block_type":"box","text":"8.64","page_number":28,"box":{"x":450,"y":232,"width":23,"height":6}},{"id":"90849ee2-ec98-41ef-a591-f9ef167e86d7","block_type":"box","text":"Operating charges","page_number":28,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"30096042-60e8-42ad-9d1c-9e50c028dc9e","block_type":"box","text":"(0.09)","page_number":28,"box":{"x":232,"y":259,"width":31,"height":8}},{"id":"9b529796-fc0c-456e-9ac7-845700d64132","block_type":"box","text":"(0.16)","page_number":28,"box":{"x":305,"y":259,"width":29,"height":8}},{"id":"62cfb7bb-4aee-40b5-a922-fd8720571e59","block_type":"box","text":"(0.18)","page_number":28,"box":{"x":377,"y":259,"width":28,"height":8}},{"id":"3b8f5126-40ce-4560-bc15-3ac2d5314f09","block_type":"box","text":"(0.18)","page_number":28,"box":{"x":448,"y":259,"width":29,"height":8}},{"id":"39323b9b-dd32-48b0-a925-1b7f8dc35d82","block_type":"box","text":"Return after operating","page_number":28,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"45e3e85c-c259-4aa3-bde4-fef5ccde04b2","block_type":"box","text":"charges*","page_number":28,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"2d3f99b1-80ec-4b20-ace3-3def803e21d8","block_type":"box","text":"8.38","page_number":28,"box":{"x":236,"y":276,"width":23,"height":6}},{"id":"30c3b98f-ae35-4edf-95e8-5437de1eafdc","block_type":"box","text":"10.40","page_number":28,"box":{"x":302,"y":276,"width":28,"height":6}},{"id":"a8d6b2bc-f856-4084-925a-4647c500bd54","block_type":"box","text":"8.44","page_number":28,"box":{"x":379,"y":276,"width":22,"height":6}},{"id":"7d33ff97-c64b-4cda-acf0-f9541edb79d4","block_type":"box","text":"8.46","page_number":28,"box":{"x":450,"y":276,"width":23,"height":6}},{"id":"c0731bae-094d-4285-aad7-d3c9bdb0c56b","block_type":"box","text":"Distributions on","page_number":28,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"a8975988-25f9-4ec9-9a92-5df573f4fe06","block_type":"box","text":"accumulation shares","page_number":28,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"d5a58673-f3a9-4572-8602-63f9cd17c92c","block_type":"box","text":"(1.37)","page_number":28,"box":{"x":233,"y":303,"width":30,"height":8}},{"id":"cd28df20-51f5-40a0-bd24-de8fd246fe7e","block_type":"box","text":"(3.44)","page_number":28,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"48d7c67c-b573-45b0-ab68-49d34c788eb6","block_type":"box","text":"(3.58)","page_number":28,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"f8e47205-1619-4dd8-a338-a72eea6c53c2","block_type":"box","text":"(2.97)","page_number":28,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"9e4a36e0-d6eb-4a02-87d8-c22c3a62114b","block_type":"box","text":"Retained distributions","page_number":28,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"9a9cf58e-ba94-4428-bb46-11f4cb6640da","block_type":"box","text":"on accumulation shares","page_number":28,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"db139197-3a97-4268-852f-48231485576f","block_type":"box","text":"1.37","page_number":28,"box":{"x":237,"y":330,"width":21,"height":6}},{"id":"d006e2ea-613c-4174-9c93-e2ec1bb2967d","block_type":"box","text":"3.44","page_number":28,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"e66b1ac6-9b52-4ac4-99a8-ecd7dedecb5d","block_type":"box","text":"3.58","page_number":28,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"baa884b0-5ff9-417c-8c5e-06dd05999862","block_type":"box","text":"2.97","page_number":28,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"01d00f57-8771-4ed4-b95f-7531313a03fa","block_type":"box","text":"Closing net asset","page_number":28,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"3193b584-af4f-41a9-830c-f1182de0e2a1","block_type":"box","text":"value per share","page_number":28,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"2a1d952f-9565-408d-aceb-5701bfe07779","block_type":"box","text":"149.81","page_number":28,"box":{"x":224,"y":357,"width":33,"height":6}},{"id":"5b49b3ab-e38d-4ee6-a85b-a6a08d3f016b","block_type":"box","text":"141.43","page_number":28,"box":{"x":295,"y":357,"width":35,"height":6}},{"id":"fd113b88-fbd0-4456-be11-8e00744c0348","block_type":"box","text":"131.03","page_number":28,"box":{"x":367,"y":357,"width":34,"height":6}},{"id":"cb340705-63b6-49d3-81f2-255c1e58a2db","block_type":"box","text":"122.59","page_number":28,"box":{"x":437,"y":357,"width":36,"height":6}},{"id":"7b7924bf-2039-4806-a13e-31e9d25dc29b","block_type":"box","text":"* after direct transaction","page_number":28,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"57fd081f-5251-4616-b852-76d6be4dd2cb","block_type":"box","text":"costs of:","page_number":28,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"75ba0750-f54e-488a-83b1-d4fe23eb39f6","block_type":"box","text":"0.02","page_number":28,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"e20ce065-693e-4163-9c34-a84f9ca35621","block_type":"box","text":"0.04","page_number":28,"box":{"x":307,"y":385,"width":23,"height":6}},{"id":"4b9394a5-dbd0-4f43-9fa6-80507cdaa992","block_type":"box","text":"0.05","page_number":28,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"27fbe79d-76ed-42e6-9543-67962bd17fd3","block_type":"box","text":"0.04","page_number":28,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"f5613a74-1f24-4bfa-be17-231747143247","block_type":"box","text":"Performance","page_number":28,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"180bee8f-85d4-4ed8-b908-dd6bf26235ae","block_type":"box","text":"Return after charges","page_number":28,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"b261589c-d43f-44ed-a1a6-4ed45fa9733d","block_type":"box","text":"5.93%","page_number":28,"box":{"x":225,"y":419,"width":33,"height":7}},{"id":"0223e4d8-1e11-4a70-b967-482859458819","block_type":"box","text":"7.94%","page_number":28,"box":{"x":298,"y":419,"width":32,"height":7}},{"id":"929bb7d4-494d-477f-82ee-852f6df18a7e","block_type":"box","text":"6.88%","page_number":28,"box":{"x":368,"y":419,"width":33,"height":7}},{"id":"36187f6c-7407-459c-b47f-cc5907af7296","block_type":"box","text":"7.41%","page_number":28,"box":{"x":442,"y":419,"width":31,"height":7}},{"id":"819a11ab-a6c9-460f-9a7e-1ad8785f766e","block_type":"box","text":"Other information","page_number":28,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"e9e6c551-c73a-48e1-9cfd-c7608c7a047e","block_type":"box","text":"Closing net asset value","page_number":28,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"fb16318a-4735-4243-9f4b-8666d0050407","block_type":"box","text":"(£’000)","page_number":28,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"b6e30a7f-0871-49f5-bb56-17c4bbcb1b22","block_type":"box","text":"518,491","page_number":28,"box":{"x":217,"y":447,"width":40,"height":7}},{"id":"9939edeb-7281-4965-88e9-f9cc9ff09915","block_type":"box","text":"470,091","page_number":28,"box":{"x":288,"y":447,"width":40,"height":7}},{"id":"cb0b5900-00d9-44c4-9e5d-d658ebf23bf3","block_type":"box","text":"389,328","page_number":28,"box":{"x":359,"y":447,"width":42,"height":7}},{"id":"e888dfda-93c9-461e-ac80-fb388a5cb5f8","block_type":"box","text":"331,083","page_number":28,"box":{"x":431,"y":447,"width":42,"height":7}},{"id":"bbda7754-dece-4ebb-b1bf-3ff985fdc6b1","block_type":"box","text":"Closing number of","page_number":28,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"47dbffaf-c27c-4a90-935d-601129b2653a","block_type":"box","text":"shares","page_number":28,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"4d5b76a6-0438-4031-bbd0-f2f988491c06","block_type":"box","text":"346,109,391","page_number":28,"box":{"x":194,"y":466,"width":63,"height":7}},{"id":"e1a969d7-76f5-4709-86fa-f208632abb15","block_type":"box","text":"332,381,423","page_number":28,"box":{"x":266,"y":466,"width":64,"height":7}},{"id":"ad9923ee-f66f-44f0-a180-436d889f2097","block_type":"box","text":"297,129,301","page_number":28,"box":{"x":342,"y":466,"width":58,"height":7}},{"id":"23dea7f8-3440-4acd-8bf5-d2c1cbcbfa1a","block_type":"box","text":"270,074,286","page_number":28,"box":{"x":412,"y":466,"width":61,"height":7}},{"id":"b7d97f03-15c9-4454-8c02-9ff961da3c5b","block_type":"box","text":"Operating charges","page_number":28,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"59880ae1-227b-46aa-9124-7ff1f12d8eb8","block_type":"box","text":"0.12%","page_number":28,"box":{"x":227,"y":485,"width":31,"height":6}},{"id":"764cdbd2-a22b-410d-ae90-bbee7ca5dadf","block_type":"box","text":"0.12%","page_number":28,"box":{"x":298,"y":485,"width":32,"height":6}},{"id":"a6b91ad4-935f-4687-ad6e-76749b3250ec","block_type":"box","text":"0.12%","page_number":28,"box":{"x":366,"y":485,"width":31,"height":6}},{"id":"03019d0a-6c1c-48b6-a0b4-a54cad78d807","block_type":"box","text":"#","page_number":28,"box":{"x":398,"y":485,"width":4,"height":3}},{"id":"b434d8f1-b7f0-4b08-84b6-9507e6be5adb","block_type":"box","text":"0.15%","page_number":28,"box":{"x":441,"y":485,"width":32,"height":6}},{"id":"26a05cee-5c97-4656-9aa6-befa910b9165","block_type":"box","text":"Direct transaction costs","page_number":28,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"3f7cbe00-b570-4f47-9d1e-97dc74c8b3ff","block_type":"box","text":"0.01%","page_number":28,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"08a12d04-d68b-4f5a-bc9a-0b73dbddc282","block_type":"box","text":"0.03%","page_number":28,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"99707d13-0923-4616-bbcb-987d6c5fac48","block_type":"box","text":"0.04%","page_number":28,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"643b2adf-cd31-4890-9cba-01c43c5f9792","block_type":"box","text":"0.03%","page_number":28,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"9b570718-5d63-4a3f-89a0-6dce6af9cceb","block_type":"box","text":"Prices","page_number":28,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"e8b3cf35-eef5-43f8-9a25-849f3e4196ee","block_type":"box","text":"^","page_number":28,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"eca00782-ce88-42a4-bcb4-713eaf529a39","block_type":"box","text":"Highest share price","page_number":28,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"fa06700a-decf-4d4b-949a-d9ccd37b1b37","block_type":"box","text":"150.50","page_number":28,"box":{"x":224,"y":522,"width":34,"height":6}},{"id":"f60252a7-d4c0-466a-bbe0-a1c7df94f911","block_type":"box","text":"142.10","page_number":28,"box":{"x":297,"y":522,"width":33,"height":6}},{"id":"5a304f2a-d0ea-4ee7-96ab-dc587c375e01","block_type":"box","text":"132.60","page_number":28,"box":{"x":367,"y":522,"width":34,"height":6}},{"id":"0021bd01-7378-4c0b-a86a-b46a3df9a91d","block_type":"box","text":"123.10","page_number":28,"box":{"x":440,"y":522,"width":33,"height":6}},{"id":"eca3887f-be93-4d24-aa8e-4a8671b2154a","block_type":"box","text":"Lowest share price","page_number":28,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"c4b20680-b804-413e-a38c-51abed942209","block_type":"box","text":"142.10","page_number":28,"box":{"x":225,"y":532,"width":33,"height":6}},{"id":"0bbcac4e-4293-484c-afca-9a1c41dfad38","block_type":"box","text":"125.80","page_number":28,"box":{"x":295,"y":532,"width":35,"height":6}},{"id":"54448f2d-9b96-466d-a891-768a3e3cf63a","block_type":"box","text":"121.00","page_number":28,"box":{"x":367,"y":532,"width":34,"height":6}},{"id":"e97782e0-2512-4705-9e56-495f6bedce14","block_type":"box","text":"114.10","page_number":28,"box":{"x":441,"y":532,"width":32,"height":6}},{"id":"1631a8f9-c6b7-44cc-b16a-f247c6ea9dc4","block_type":"box","text":"#","page_number":28,"box":{"x":57,"y":556,"width":3,"height":3}},{"id":"01f83ff7-2af7-4d32-a45d-b373f9bf16c3","block_type":"box","text":"The FMF changed from 0.15% to 0.12% on 23 September 2024.","page_number":28,"box":{"x":63,"y":556,"width":337,"height":7}},{"id":"462693cd-06e4-4e18-b4b5-782a964f4e41","block_type":"box","text":"Royal London GMAP Balanced Fund | Royal London Multi-Asset Funds ICVC","page_number":28,"box":{"x":503,"y":33,"width":410,"height":8}},{"id":"681f94d0-4082-44b8-8baa-0e05b4051d9d","block_type":"box","text":"28","page_number":28,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"07ec9947-d1e8-4595-ba75-49d12cce1600","block_type":"box","text":"Class Z Accumulation","page_number":29,"box":{"x":57,"y":151,"width":202,"height":9}},{"id":"938e23b2-efcc-4794-b427-5b2e3b60d39b","block_type":"box","text":"Change in net assets","page_number":29,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"ae388cb0-5682-4a8b-88c1-b22fa414532f","block_type":"box","text":"30/06/26","page_number":29,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"2f9da37a-5a25-4673-8833-9af9d3687ab6","block_type":"box","text":"31/12/25","page_number":29,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"3e91bf43-da35-49ce-86c8-77bc431e96d6","block_type":"box","text":"31/12/24","page_number":29,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"a0a11e42-1d1f-49ff-b6a4-3212282c1802","block_type":"box","text":"31/12/23**","page_number":29,"box":{"x":418,"y":177,"width":55,"height":6}},{"id":"058ab245-f243-447d-9599-fa939c9d5d07","block_type":"box","text":"per share","page_number":29,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"7a79ea20-9e7a-48d9-8715-6a2461fd7e9e","block_type":"box","text":"(p)","page_number":29,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"4f7ecbeb-d3cc-4c1b-89a8-4675912e31de","block_type":"box","text":"(p)","page_number":29,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"3da85b29-8594-4123-9354-2b91af523435","block_type":"box","text":"(p)","page_number":29,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"62cd43f5-faa1-4815-b739-0cc47c89ee4d","block_type":"box","text":"(p)","page_number":29,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"f1fcee6f-7ae8-4a2f-a225-436267d3c4c7","block_type":"box","text":"Opening net asset","page_number":29,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"a2f733f7-e619-4d52-a6c8-689fbb760247","block_type":"box","text":"value per share","page_number":29,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"00357a12-802a-4a90-8e02-e09c50845727","block_type":"box","text":"120.43","page_number":29,"box":{"x":224,"y":205,"width":34,"height":6}},{"id":"07c12768-c936-4f37-ad43-a02f59a91cac","block_type":"box","text":"111.83","page_number":29,"box":{"x":297,"y":205,"width":33,"height":6}},{"id":"de0ac696-ec7b-4006-bde9-3e968ce81c99","block_type":"box","text":"104.82","page_number":29,"box":{"x":366,"y":205,"width":35,"height":6}},{"id":"05ca0fb5-c705-4266-8939-f4e670c1f166","block_type":"box","text":"100.00","page_number":29,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"d6fcb70c-4689-400e-a469-25d2375529ba","block_type":"box","text":"Return before operating","page_number":29,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"bea42b23-d4a9-47ae-91a4-e48a74c00e4a","block_type":"box","text":"charges*","page_number":29,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"914ec78c-cb60-4278-be51-b0f38b415ca8","block_type":"box","text":"7.22","page_number":29,"box":{"x":237,"y":232,"width":21,"height":6}},{"id":"2c279af2-dd1e-48f0-9336-f4632463e930","block_type":"box","text":"9.06","page_number":29,"box":{"x":307,"y":232,"width":23,"height":6}},{"id":"3deb32ca-9d65-47ea-b66b-d321f15d9576","block_type":"box","text":"7.45","page_number":29,"box":{"x":380,"y":232,"width":21,"height":6}},{"id":"759e57e2-63ae-4cf1-9b9d-a3806ae789e6","block_type":"box","text":"5.20","page_number":29,"box":{"x":450,"y":232,"width":23,"height":6}},{"id":"5bc67676-a24e-48ea-bb9a-4f2a619cc0d3","block_type":"box","text":"Operating charges","page_number":29,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"c0b63b74-e682-4860-88fd-b1cd42d6cb6e","block_type":"box","text":"(0.21)","page_number":29,"box":{"x":233,"y":259,"width":30,"height":8}},{"id":"3be7d7c7-a0c7-4faf-b774-29ff56363c6d","block_type":"box","text":"(0.46)","page_number":29,"box":{"x":304,"y":259,"width":30,"height":8}},{"id":"9fc8b3f4-8dfe-46d6-a6fd-1a3395f2b076","block_type":"box","text":"(0.44)","page_number":29,"box":{"x":375,"y":259,"width":30,"height":8}},{"id":"5e1c9b46-006f-4e61-9ec4-e5cd2d50cff1","block_type":"box","text":"(0.38)","page_number":29,"box":{"x":447,"y":259,"width":30,"height":8}},{"id":"80ee6513-258e-4c93-baac-188df271bfe7","block_type":"box","text":"Return after operating","page_number":29,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"46d32c6b-d18a-49a9-a64e-6b273ff951cc","block_type":"box","text":"charges*","page_number":29,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"dd6eb41a-586a-4d66-941b-c79d19eb906d","block_type":"box","text":"7.01","page_number":29,"box":{"x":238,"y":276,"width":19,"height":6}},{"id":"cb9fd500-08bf-4608-be16-1e3aab71097d","block_type":"box","text":"8.60","page_number":29,"box":{"x":307,"y":276,"width":23,"height":6}},{"id":"2c3a2762-1a8b-4153-849c-5676ae6fda82","block_type":"box","text":"7.01","page_number":29,"box":{"x":380,"y":276,"width":20,"height":6}},{"id":"6944e9b8-6097-4aa4-8ebb-d4b9873639ee","block_type":"box","text":"4.82","page_number":29,"box":{"x":450,"y":276,"width":23,"height":6}},{"id":"d73f34a3-d198-4c6b-b3c8-bb4bd98869e8","block_type":"box","text":"Distributions on","page_number":29,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"cd6492de-4b90-4c35-ae98-59df7742725d","block_type":"box","text":"accumulation shares","page_number":29,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"9d1149ab-3299-4379-8e2c-d7a6df1f0d2e","block_type":"box","text":"(1.05)","page_number":29,"box":{"x":233,"y":303,"width":30,"height":8}},{"id":"e71aaf9e-e740-4f6e-b7dd-0afb53b7b662","block_type":"box","text":"(2.68)","page_number":29,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"2db4f2f7-991e-4abe-a9ad-a6eefb0041c1","block_type":"box","text":"(3.07)","page_number":29,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"931b1440-76c1-4b25-84f7-d979f6a9a07e","block_type":"box","text":"(2.30)","page_number":29,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"0a60d395-02ab-4b68-9182-10db072307a5","block_type":"box","text":"Retained distributions","page_number":29,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"9a13ecde-51f6-450a-ba08-389fc9b006de","block_type":"box","text":"on accumulation shares","page_number":29,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"f39bec3d-7364-490f-9a8d-29b1258622f8","block_type":"box","text":"1.05","page_number":29,"box":{"x":237,"y":330,"width":22,"height":6}},{"id":"25276b36-ae8f-4319-ad3c-6b79eecfdf34","block_type":"box","text":"2.68","page_number":29,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"d403074e-131f-4ec0-8581-6d87fe283b92","block_type":"box","text":"3.07","page_number":29,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"e6c7dbfe-1037-4ab1-8c1b-97791c6349bf","block_type":"box","text":"2.30","page_number":29,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"22657adf-1449-4681-8d4c-5897107ee230","block_type":"box","text":"Closing net asset","page_number":29,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"ecb0f49d-fb6a-4270-9a45-55cf1b22fbeb","block_type":"box","text":"value per share","page_number":29,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"93bd7cbb-d0b3-44fa-a2b5-5f4efa3704c2","block_type":"box","text":"127.44","page_number":29,"box":{"x":224,"y":357,"width":35,"height":6}},{"id":"944ef003-6f9a-48ea-8485-eb75f4560f8d","block_type":"box","text":"120.43","page_number":29,"box":{"x":295,"y":357,"width":35,"height":6}},{"id":"2acfccfb-f24e-4955-98a9-80331acc9c91","block_type":"box","text":"111.83","page_number":29,"box":{"x":368,"y":357,"width":33,"height":6}},{"id":"9c13bf3b-2f6e-41ee-828f-9790585f90c6","block_type":"box","text":"104.82","page_number":29,"box":{"x":437,"y":357,"width":36,"height":6}},{"id":"fcfaf97e-6e73-485c-bb77-fcdc6c98dc11","block_type":"box","text":"* after direct transaction","page_number":29,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"7c094585-bb37-47d1-9191-b4f038e09596","block_type":"box","text":"costs of:","page_number":29,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"75618afa-2648-4edc-aa2e-1dca17485e07","block_type":"box","text":"0.02","page_number":29,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"5238d615-892b-4e35-be0a-d14bc4476085","block_type":"box","text":"0.03","page_number":29,"box":{"x":308,"y":385,"width":22,"height":6}},{"id":"575d5e5f-6511-47ee-b455-e771636e0ca0","block_type":"box","text":"0.04","page_number":29,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"e1624e8d-f160-473c-adba-745ec185a55e","block_type":"box","text":"0.03","page_number":29,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"ae42e4ad-5ef8-4dd2-9bc2-3a05bc42ec4f","block_type":"box","text":"Performance","page_number":29,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"cc6199ca-ca58-4fb1-bc26-c459f2d672d6","block_type":"box","text":"Return after charges","page_number":29,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"0f567110-e39b-4daa-8967-b46cb56a8022","block_type":"box","text":"5.82%","page_number":29,"box":{"x":225,"y":419,"width":33,"height":7}},{"id":"e7dc0f7a-e104-4fe0-b50f-8c7b1a1ffa36","block_type":"box","text":"7.69%","page_number":29,"box":{"x":298,"y":419,"width":32,"height":7}},{"id":"72934476-e70f-427d-86bf-499ee4b9992e","block_type":"box","text":"6.69%","page_number":29,"box":{"x":368,"y":419,"width":33,"height":7}},{"id":"9a0afe8d-19bc-4c75-8c8b-17919308d62c","block_type":"box","text":"4.82%","page_number":29,"box":{"x":439,"y":419,"width":34,"height":7}},{"id":"10581b28-8913-4e04-9690-4df9c5e2f56f","block_type":"box","text":"Other information","page_number":29,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"5848e9d0-4617-4b91-9656-db6eab671cc9","block_type":"box","text":"Closing net asset value","page_number":29,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"67532602-5de2-4d9d-a84a-5855c85c97ce","block_type":"box","text":"(£’000)","page_number":29,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"17bed6e0-478a-49fa-b4ca-b8699538d9ae","block_type":"box","text":"56,200","page_number":29,"box":{"x":222,"y":447,"width":36,"height":7}},{"id":"26afe029-0168-4a52-b6b1-0506e68677bc","block_type":"box","text":"50,973","page_number":29,"box":{"x":294,"y":447,"width":36,"height":7}},{"id":"bd0aa96e-5d0e-46cf-afe1-ae54eb018ca9","block_type":"box","text":"28,196","page_number":29,"box":{"x":366,"y":447,"width":35,"height":7}},{"id":"c1f18889-a494-40c8-b801-18f1d484e106","block_type":"box","text":"3","page_number":29,"box":{"x":467,"y":447,"width":6,"height":6}},{"id":"68f14152-a0a5-4b33-951a-7f79e7b0e564","block_type":"box","text":"Closing number of","page_number":29,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"e57f8297-913f-4db7-88e3-e04593a6fffd","block_type":"box","text":"shares","page_number":29,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"99ad00fa-7f46-4e50-bbe8-6c95dcb382ce","block_type":"box","text":"44,099,868","page_number":29,"box":{"x":198,"y":466,"width":61,"height":7}},{"id":"a784424c-4686-4431-95fc-53d077f5c1b5","block_type":"box","text":"42,323,935","page_number":29,"box":{"x":270,"y":466,"width":60,"height":7}},{"id":"07c5210a-31a3-46fb-bfa8-95981afb2b3b","block_type":"box","text":"25,213,999","page_number":29,"box":{"x":342,"y":466,"width":59,"height":7}},{"id":"0d5e4e09-302b-4a2e-b131-048fc573d42f","block_type":"box","text":"2,500","page_number":29,"box":{"x":443,"y":466,"width":30,"height":7}},{"id":"556be33d-ddc4-4293-bb4b-0d0d684c523b","block_type":"box","text":"Operating charges","page_number":29,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"ca84a7a6-1d85-4654-b9c1-7f449dd4dc8c","block_type":"box","text":"0.30%","page_number":29,"box":{"x":221,"y":485,"width":33,"height":6}},{"id":"49266357-ff64-4195-b6c8-7f2e3cf05b44","block_type":"box","text":"#","page_number":29,"box":{"x":255,"y":485,"width":4,"height":3}},{"id":"6d51e5fd-c559-4f10-9db9-520c61468c55","block_type":"box","text":"0.40%","page_number":29,"box":{"x":297,"y":485,"width":33,"height":6}},{"id":"b09513d4-5947-4d5a-ada8-3e26e63b3c89","block_type":"box","text":"0.40%","page_number":29,"box":{"x":368,"y":485,"width":33,"height":6}},{"id":"3cb6740f-bcc9-43fd-8946-3c02997016a0","block_type":"box","text":"0.40%","page_number":29,"box":{"x":440,"y":485,"width":33,"height":6}},{"id":"2718ad01-5a83-4a50-8dbe-19f466781eab","block_type":"box","text":"Direct transaction costs","page_number":29,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"8a557429-1f96-41eb-a764-003660b4b62f","block_type":"box","text":"0.01%","page_number":29,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"b8416bf4-ac12-4aee-a4ef-f26c2e0aa300","block_type":"box","text":"0.03%","page_number":29,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"bd6d7b59-2f6c-4fe9-930c-2c958d0cd49d","block_type":"box","text":"0.04%","page_number":29,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"d8010411-78e5-4470-88e4-b962fe0403ab","block_type":"box","text":"0.03%","page_number":29,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"ee07ab93-fad9-4071-bc28-147b1e893fe2","block_type":"box","text":"Prices","page_number":29,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"61b27c61-5797-4ee3-ad13-22ca1e3a9a2e","block_type":"box","text":"^","page_number":29,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"4942d6ad-6a55-49e9-aa41-8ead0a0928e8","block_type":"box","text":"Highest share price","page_number":29,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"707d3047-440f-4c98-827b-ac9e4865ffd9","block_type":"box","text":"128.00","page_number":29,"box":{"x":224,"y":522,"width":34,"height":6}},{"id":"b29f12d2-e753-498f-aacb-2c76cfc36019","block_type":"box","text":"121.00","page_number":29,"box":{"x":296,"y":522,"width":34,"height":6}},{"id":"23a2aa8a-8570-4449-82b4-8a037420d539","block_type":"box","text":"114.50","page_number":29,"box":{"x":368,"y":522,"width":33,"height":6}},{"id":"32f6f024-f96c-45d4-aadd-71db13a851c3","block_type":"box","text":"105.20","page_number":29,"box":{"x":438,"y":522,"width":35,"height":6}},{"id":"215af763-86e8-49d6-a5c9-147eeefa2107","block_type":"box","text":"Lowest share price","page_number":29,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"491809c7-3641-4de0-89b6-d4a14bf6cba0","block_type":"box","text":"121.00","page_number":29,"box":{"x":224,"y":532,"width":34,"height":6}},{"id":"ee221fcd-3ee8-460e-b428-844b3099da2a","block_type":"box","text":"107.30","page_number":29,"box":{"x":296,"y":532,"width":34,"height":6}},{"id":"6d893a3c-a1e6-4967-9a9a-659204f64998","block_type":"box","text":"103.50","page_number":29,"box":{"x":366,"y":532,"width":35,"height":6}},{"id":"9fefc219-058e-4110-8b62-812f516d7e42","block_type":"box","text":"97.76","page_number":29,"box":{"x":445,"y":532,"width":28,"height":6}},{"id":"c788aa9c-b45d-436c-8d7a-7d320d9bd0b5","block_type":"box","text":"** Class Z Accumulation launched on 31 January 2023.","page_number":29,"box":{"x":57,"y":556,"width":293,"height":7}},{"id":"ba6f69a4-a91b-46ad-8a4e-fe466131372f","block_type":"box","text":"#","page_number":29,"box":{"x":57,"y":570,"width":3,"height":3}},{"id":"d4224eca-6601-4c45-9f8d-0ca38321d50a","block_type":"box","text":"The FMF changed from 0.40% to 0.30% on 31 March 2026.","page_number":29,"box":{"x":64,"y":570,"width":316,"height":8}},{"id":"5557c3ea-8a6b-45d8-9af1-333d9c4af1c2","block_type":"box","text":"^","page_number":29,"box":{"x":57,"y":584,"width":3,"height":2}},{"id":"daaeec00-4385-4fe7-8de1-6989238eda57","block_type":"box","text":"The high and low prices disclosed are the high and low prices for the accounting","page_number":29,"box":{"x":63,"y":584,"width":414,"height":8}},{"id":"5c370b0e-d794-4e2b-841a-1bf2f4f3baa0","block_type":"box","text":"period and not the calendar year.","page_number":29,"box":{"x":57,"y":595,"width":175,"height":7}},{"id":"8312f399-2d22-48a3-80de-1c78c6dc6086","block_type":"box","text":"From 3 June 2019, the Fund has received a full rebate of","page_number":29,"box":{"x":58,"y":613,"width":421,"height":9}},{"id":"79f0affe-dac7-4621-879f-d89ed45a6457","block_type":"box","text":"synthetic costs to maintain the Fund Management Fee at a","page_number":29,"box":{"x":57,"y":626,"width":420,"height":10}},{"id":"21441176-b4b2-40dd-bb71-3dbd29cdd4a5","block_type":"box","text":"fixed level.","page_number":29,"box":{"x":57,"y":639,"width":71,"height":8}},{"id":"6b4f2150-773c-4a5c-a0c1-45a3681231af","block_type":"box","text":"It should be noted that past performance is not a reliable","page_number":29,"box":{"x":58,"y":655,"width":419,"height":10}},{"id":"03a9dcbc-4000-46e9-8ba6-e5aa9c29b5c7","block_type":"box","text":"indicator of future performance and that the value of shares,","page_number":29,"box":{"x":58,"y":668,"width":419,"height":10}},{"id":"87a9a1bf-4544-44ae-a922-eea035d6b143","block_type":"box","text":"and the income derived from them, can vary.","page_number":29,"box":{"x":57,"y":681,"width":302,"height":10}},{"id":"958fa2f5-1544-480b-92d7-21c4857fad33","block_type":"box","text":"Comparative Tables","page_number":29,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"6dba3c10-cde3-437d-b7c6-107cf88cd656","block_type":"box","text":"(continued)","page_number":29,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"bf3098cb-c76e-45f8-82ae-1366e84ee91a","block_type":"box","text":"Royal London GMAP Balanced Fund | Royal London Multi-Asset Funds ICVC","page_number":29,"box":{"x":503,"y":33,"width":410,"height":8}},{"id":"cbc9f177-e9be-4ba1-baaa-3e6649abb867","block_type":"box","text":"29","page_number":29,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"f283b563-38ca-43e6-a524-c6d80e944680","block_type":"box","text":"Portfolio Statement","page_number":30,"box":{"x":58,"y":94,"width":233,"height":11}},{"id":"7fd2e951-61b4-483f-b884-0ac923e259ed","block_type":"box","text":"As at 30","page_number":30,"box":{"x":57,"y":113,"width":55,"height":8}},{"id":"5992e740-fbed-475a-a39f-2a8d88546918","block_type":"box","text":"June 2026","page_number":30,"box":{"x":117,"y":113,"width":70,"height":8}},{"id":"7588e3f0-16a7-4710-a914-e790744cbbc0","block_type":"box","text":"Bond Collective Investment Schemes – 59.96% (31/12/25 – 59.81%)","page_number":30,"box":{"x":58,"y":201,"width":378,"height":8}},{"id":"0a2cb35c-3cb7-4e92-8f9a-676427fafcb3","block_type":"box","text":"9,403,760","page_number":30,"box":{"x":69,"y":211,"width":51,"height":7}},{"id":"51e1aad0-965c-4dea-b033-811e74fa45ac","block_type":"box","text":"Royal London Emerging Markets Corporate","page_number":30,"box":{"x":129,"y":211,"width":225,"height":8}},{"id":"e85dbd65-590d-42b1-bee2-aa635bfc2871","block_type":"box","text":"Bond Fund R Acc","page_number":30,"box":{"x":129,"y":221,"width":90,"height":6}},{"id":"ce9aef66-aadb-459e-b6ab-cbea9de25804","block_type":"box","text":"†","page_number":30,"box":{"x":220,"y":220,"width":3,"height":5}},{"id":"27737b9f-59f6-47af-b1aa-ac1557109b8d","block_type":"box","text":"12,021","page_number":30,"box":{"x":365,"y":220,"width":32,"height":8}},{"id":"16648ba5-d3fc-4820-9d39-24a807a6fca5","block_type":"box","text":"1.50","page_number":30,"box":{"x":451,"y":220,"width":21,"height":7}},{"id":"d3ad7cd5-2e9f-4051-857c-d8e164c79e92","block_type":"box","text":"21,364,610","page_number":30,"box":{"x":62,"y":230,"width":58,"height":7}},{"id":"4945005f-37d6-4dcb-87e2-ccf328bfbfc1","block_type":"box","text":"Royal London Global High Yield Bond Fund","page_number":30,"box":{"x":129,"y":230,"width":225,"height":8}},{"id":"6ccec123-f401-4cb2-a023-8ba86841d0fb","block_type":"box","text":"R Acc","page_number":30,"box":{"x":129,"y":240,"width":30,"height":6}},{"id":"2c6d0095-e520-4c4e-be31-0833a4cb3d65","block_type":"box","text":"†","page_number":30,"box":{"x":159,"y":240,"width":3,"height":4}},{"id":"e0f4116f-539f-400f-b00f-6ead7b9e7ac6","block_type":"box","text":"28,116","page_number":30,"box":{"x":365,"y":240,"width":34,"height":7}},{"id":"91b47fa7-b663-4532-b37a-64c68d954786","block_type":"box","text":"3.50","page_number":30,"box":{"x":450,"y":240,"width":22,"height":6}},{"id":"de4664b0-3e46-444b-86f1-84f3b21ef79c","block_type":"box","text":"22,566,549","page_number":30,"box":{"x":62,"y":249,"width":58,"height":7}},{"id":"03184efb-011a-43f6-a003-63582b94a1bd","block_type":"box","text":"Royal London Global Senior ABS Fund","page_number":30,"box":{"x":129,"y":249,"width":202,"height":8}},{"id":"12e5781f-0d8a-4b31-9980-28ffd610510e","block_type":"box","text":"R Acc","page_number":30,"box":{"x":129,"y":259,"width":30,"height":6}},{"id":"9e357999-d019-43d1-8476-8e86e9490686","block_type":"box","text":"†","page_number":30,"box":{"x":159,"y":259,"width":3,"height":4}},{"id":"df66af4f-9460-4d45-9c64-43804e08a39f","block_type":"box","text":"24,038","page_number":30,"box":{"x":364,"y":259,"width":35,"height":7}},{"id":"f4d3e18d-de98-49ec-a29c-0b70d1a388e3","block_type":"box","text":"2.99","page_number":30,"box":{"x":450,"y":259,"width":22,"height":6}},{"id":"38f9e743-1e98-46e5-aedf-dff9212b7e78","block_type":"box","text":"19,441,633","page_number":30,"box":{"x":63,"y":268,"width":57,"height":7}},{"id":"11ce23f9-7c53-4d00-8f3f-2de9e483f8c7","block_type":"box","text":"Royal London Global Sustainable Credit","page_number":30,"box":{"x":129,"y":268,"width":208,"height":8}},{"id":"e3279d54-d209-4cb4-97c0-996ad53ded19","block_type":"box","text":"Fund R Acc","page_number":30,"box":{"x":129,"y":278,"width":60,"height":6}},{"id":"a9e684cf-e523-487e-8d91-535f85ef570d","block_type":"box","text":"†","page_number":30,"box":{"x":189,"y":278,"width":3,"height":4}},{"id":"e4ab7796-1206-4548-8852-2db74acc95d5","block_type":"box","text":"20,217","page_number":30,"box":{"x":364,"y":278,"width":35,"height":7}},{"id":"3f33d17c-b1e0-4b9b-821c-c38bf432dc49","block_type":"box","text":"2.52","page_number":30,"box":{"x":450,"y":278,"width":22,"height":6}},{"id":"15ae4040-c941-4d67-8235-15769c4793a7","block_type":"box","text":"49,340,090","page_number":30,"box":{"x":62,"y":287,"width":58,"height":7}},{"id":"a7b7b9db-b715-4604-8bbc-dc3f8c6861d2","block_type":"box","text":"Royal London Index Linked Fund R Acc","page_number":30,"box":{"x":129,"y":287,"width":206,"height":8}},{"id":"b262e4a7-8caa-4695-a280-bd2daba74769","block_type":"box","text":"†","page_number":30,"box":{"x":335,"y":287,"width":3,"height":4}},{"id":"d605a294-3d5d-43bd-8e12-eeb93a37d49b","block_type":"box","text":"40,303","page_number":30,"box":{"x":364,"y":287,"width":35,"height":7}},{"id":"418660b5-c665-42fe-a314-ef21dcd325a9","block_type":"box","text":"5.02","page_number":30,"box":{"x":450,"y":287,"width":22,"height":6}},{"id":"f35bcf1d-99ef-4f18-b3a5-81d6077a9774","block_type":"box","text":"31,590,201","page_number":30,"box":{"x":63,"y":297,"width":56,"height":7}},{"id":"67be840a-b38d-45f4-a2ff-e3f4b8956c58","block_type":"box","text":"Royal London International Government","page_number":30,"box":{"x":129,"y":296,"width":207,"height":8}},{"id":"850f8db3-44c3-4f24-8522-7112176907f8","block_type":"box","text":"Bond Fund R Acc","page_number":30,"box":{"x":129,"y":306,"width":90,"height":6}},{"id":"1235d9f7-7804-446f-8b7d-f9f79fcc6757","block_type":"box","text":"†","page_number":30,"box":{"x":220,"y":306,"width":3,"height":4}},{"id":"3ec2c63e-241f-443d-9938-24a341d3a09d","block_type":"box","text":"36,130","page_number":30,"box":{"x":364,"y":306,"width":35,"height":7}},{"id":"05f3b532-d4e2-4e23-8e7d-77d92af1f5ba","block_type":"box","text":"4.50","page_number":30,"box":{"x":450,"y":306,"width":22,"height":6}},{"id":"ff515ac2-a7e5-4b56-929c-61beafd8c871","block_type":"box","text":"44,914,600","page_number":30,"box":{"x":62,"y":316,"width":58,"height":7}},{"id":"f6c3989b-0bab-42b4-ab0c-5e645be3ff3c","block_type":"box","text":"Royal London Investment Grade Short","page_number":30,"box":{"x":129,"y":315,"width":200,"height":8}},{"id":"6ddc3104-eb43-4066-a2b0-08ab88b0f6fb","block_type":"box","text":"Dated Credit Fund R Acc","page_number":30,"box":{"x":129,"y":325,"width":129,"height":6}},{"id":"5068c704-3400-4cbc-ba27-e823e1252596","block_type":"box","text":"†","page_number":30,"box":{"x":258,"y":325,"width":4,"height":4}},{"id":"9e1c78b7-fa3c-40a0-8863-8ad520145761","block_type":"box","text":"56,664","page_number":30,"box":{"x":364,"y":325,"width":35,"height":7}},{"id":"0c11bd88-cadc-4bcb-9800-6a6a52850aea","block_type":"box","text":"7.05","page_number":30,"box":{"x":450,"y":325,"width":22,"height":6}},{"id":"4163d4e6-4521-44e4-898e-4a9b3ea9b3a1","block_type":"box","text":"35,324,994","page_number":30,"box":{"x":63,"y":335,"width":57,"height":7}},{"id":"b0e7680f-7d04-42c0-a35c-81b0af3b7ab8","block_type":"box","text":"Royal London Short Duration Gilts Fund","page_number":30,"box":{"x":129,"y":334,"width":207,"height":8}},{"id":"d055132a-e580-4880-be34-2698e213f48c","block_type":"box","text":"R Acc","page_number":30,"box":{"x":129,"y":344,"width":30,"height":6}},{"id":"742f6968-70a9-4d74-b368-24e289ab51ed","block_type":"box","text":"†","page_number":30,"box":{"x":159,"y":344,"width":3,"height":4}},{"id":"55b16923-8baa-4b8d-b7e3-138aa165fa22","block_type":"box","text":"40,182","page_number":30,"box":{"x":364,"y":344,"width":35,"height":7}},{"id":"c8df6649-2da5-437e-bc73-d00d0e09d4a9","block_type":"box","text":"5.00","page_number":30,"box":{"x":450,"y":344,"width":22,"height":6}},{"id":"78629419-8afd-4698-a35d-0fc6fbe78870","block_type":"box","text":"23,642,661","page_number":30,"box":{"x":62,"y":354,"width":57,"height":7}},{"id":"a7c6cd77-2722-46b3-ad97-37936085fe4a","block_type":"box","text":"Royal London Short Duration Global Index","page_number":30,"box":{"x":129,"y":353,"width":220,"height":8}},{"id":"93814269-e96f-4266-94cd-aa10ad4f0892","block_type":"box","text":"Linked Fund R Acc","page_number":30,"box":{"x":129,"y":363,"width":98,"height":6}},{"id":"43365927-c2a7-46f3-8414-1fc9d8a90b3f","block_type":"box","text":"†","page_number":30,"box":{"x":227,"y":363,"width":3,"height":4}},{"id":"59677920-5740-4f04-9d41-f5ea4a6c9417","block_type":"box","text":"30,064","page_number":30,"box":{"x":364,"y":363,"width":35,"height":7}},{"id":"e247debd-2ee6-4c15-b159-8b5188ffe7cd","block_type":"box","text":"3.74","page_number":30,"box":{"x":450,"y":363,"width":22,"height":6}},{"id":"30409312-d26d-47c3-a74c-b60e3fbe66af","block_type":"box","text":"1,570,780","page_number":30,"box":{"x":70,"y":373,"width":50,"height":7}},{"id":"1d6ea6a5-5468-4bc8-a294-bb3ecc26146b","block_type":"box","text":"Royal London Short-Term Money Market","page_number":30,"box":{"x":129,"y":372,"width":211,"height":8}},{"id":"3585df6d-437f-4ba4-8e40-adfdfa588581","block_type":"box","text":"Fund R Acc","page_number":30,"box":{"x":129,"y":382,"width":60,"height":6}},{"id":"d5c7c53a-3555-4b74-8a79-f437589a24d6","block_type":"box","text":"†","page_number":30,"box":{"x":189,"y":382,"width":3,"height":4}},{"id":"450346a1-0766-4712-b3fb-3a69b6cdda52","block_type":"box","text":"1,902","page_number":30,"box":{"x":371,"y":382,"width":28,"height":7}},{"id":"3386e2f9-7c23-4ab6-9e48-37a3746354d4","block_type":"box","text":"0.24","page_number":30,"box":{"x":450,"y":382,"width":22,"height":6}},{"id":"e2f33533-c03e-4e79-b3d2-e8c8eb086102","block_type":"box","text":"38,070,203","page_number":30,"box":{"x":63,"y":392,"width":57,"height":7}},{"id":"84200cbf-aa53-4d33-a7e9-38f0acc9b40e","block_type":"box","text":"Royal London Sterling Credit Fund R Acc","page_number":30,"box":{"x":129,"y":391,"width":213,"height":8}},{"id":"7626ed9a-95cd-41e7-b32d-af37b08c2545","block_type":"box","text":"†","page_number":30,"box":{"x":343,"y":392,"width":3,"height":4}},{"id":"3829b215-1190-473d-9881-46bfffc82f0e","block_type":"box","text":"50,595","page_number":30,"box":{"x":364,"y":392,"width":35,"height":7}},{"id":"6d56e057-5af2-4890-b0cf-d82944f58299","block_type":"box","text":"6.30","page_number":30,"box":{"x":450,"y":392,"width":22,"height":6}},{"id":"a8373233-3ef3-49d6-b6ad-74926651277e","block_type":"box","text":"66,446,659","page_number":30,"box":{"x":63,"y":401,"width":57,"height":7}},{"id":"0f77d6ed-d542-42d7-a716-8badfe96bbb1","block_type":"box","text":"Royal London Sterling Liquidity Money","page_number":30,"box":{"x":129,"y":401,"width":200,"height":8}},{"id":"50d7d4b0-60f8-4021-a90c-1a890e3c2acc","block_type":"box","text":"Market Fund R Inc","page_number":30,"box":{"x":129,"y":411,"width":96,"height":6}},{"id":"77dda236-81a8-4880-ada4-12cbace8fa71","block_type":"box","text":"†","page_number":30,"box":{"x":225,"y":411,"width":3,"height":4}},{"id":"f1b0e261-7f47-475d-94e9-37e6a95eb875","block_type":"box","text":"66,447","page_number":30,"box":{"x":364,"y":411,"width":35,"height":7}},{"id":"b4671c50-b4c7-4d67-be3b-f19b33dbc14a","block_type":"box","text":"8.27","page_number":30,"box":{"x":450,"y":411,"width":22,"height":6}},{"id":"e2623d31-8b19-4af8-9c52-9ed1ccc51e12","block_type":"box","text":"78,061,222","page_number":30,"box":{"x":63,"y":420,"width":57,"height":7}},{"id":"de6fdd25-46fa-43a7-bb80-4e4c2dde3fa3","block_type":"box","text":"Royal London UK Government Bond","page_number":30,"box":{"x":129,"y":420,"width":189,"height":8}},{"id":"79fde9c2-6110-4666-8d5e-087a1b654bf3","block_type":"box","text":"Fund R Acc","page_number":30,"box":{"x":129,"y":430,"width":60,"height":6}},{"id":"e38b21d8-5c66-49de-b34d-9953454d3d88","block_type":"box","text":"†","page_number":30,"box":{"x":189,"y":430,"width":3,"height":4}},{"id":"1b15a50d-55f0-482b-ad02-a826c62bd411","block_type":"box","text":"74,961","page_number":30,"box":{"x":364,"y":430,"width":33,"height":7}},{"id":"3089c7a3-371d-4998-b8ed-810db176aa77","block_type":"box","text":"9.33","page_number":30,"box":{"x":450,"y":430,"width":22,"height":6}},{"id":"a1717c7c-ba61-468a-856b-a25c5d735a0d","block_type":"box","text":"Total Bond Collective Investment Schemes","page_number":30,"box":{"x":57,"y":446,"width":239,"height":6}},{"id":"5f02cf39-887c-4d75-8a81-f582e485c882","block_type":"box","text":"481,640","page_number":30,"box":{"x":357,"y":446,"width":42,"height":7}},{"id":"20bd4ffe-8529-46b8-bce0-3780c7111418","block_type":"box","text":"59.96","page_number":30,"box":{"x":443,"y":446,"width":29,"height":6}},{"id":"2286e431-212c-4930-87d2-82c73285a1c0","block_type":"box","text":"Equity Collective Investment Schemes – 33.42% (31/12/25 – 31.88%)","page_number":30,"box":{"x":58,"y":462,"width":385,"height":8}},{"id":"855da87f-c5b0-44f0-b082-ea9b60dbc724","block_type":"box","text":"2,710,066","page_number":30,"box":{"x":69,"y":472,"width":51,"height":7}},{"id":"04564ca4-0f23-49c8-b0e5-2d26a7fc9a78","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt","page_number":30,"box":{"x":129,"y":471,"width":204,"height":8}},{"id":"b6a968b2-545c-4c98-b42f-4c83ca623c71","block_type":"box","text":"Fund R Acc","page_number":30,"box":{"x":129,"y":481,"width":60,"height":6}},{"id":"650249d5-9a93-4d77-b29e-5899d2653564","block_type":"box","text":"†","page_number":30,"box":{"x":189,"y":481,"width":3,"height":4}},{"id":"227eb7e3-8307-406b-a3c1-0aafa0cc914c","block_type":"box","text":"8,117","page_number":30,"box":{"x":371,"y":481,"width":28,"height":7}},{"id":"e685aeab-dedd-4b38-ba27-e2ffb79206be","block_type":"box","text":"1.01","page_number":30,"box":{"x":451,"y":481,"width":19,"height":6}},{"id":"82a8f6af-58b1-4225-b8f9-62fb47d6c4a0","block_type":"box","text":"14,835,908","page_number":30,"box":{"x":63,"y":491,"width":57,"height":7}},{"id":"b30aa731-2f61-4740-b11f-1fea7fe8e42c","block_type":"box","text":"Royal London Emerging Markets Equity","page_number":30,"box":{"x":129,"y":491,"width":206,"height":7}},{"id":"1f6812cd-10b7-46f7-bdbf-6d2c29dfaa87","block_type":"box","text":"Tilt Fund R Acc","page_number":30,"box":{"x":128,"y":500,"width":79,"height":6}},{"id":"603ebdfd-e8b8-4460-af37-3d4f808d510d","block_type":"box","text":"†","page_number":30,"box":{"x":208,"y":500,"width":3,"height":4}},{"id":"400a23da-1ee6-4293-8d4b-4c12f4b76664","block_type":"box","text":"30,848","page_number":30,"box":{"x":364,"y":500,"width":35,"height":7}},{"id":"4d7efb24-c940-4715-beb4-a52ade823aca","block_type":"box","text":"3.84","page_number":30,"box":{"x":450,"y":500,"width":22,"height":6}},{"id":"15699cc3-61ac-4b2a-9978-f17653edbfc9","block_type":"box","text":"4,273,659","page_number":30,"box":{"x":69,"y":510,"width":51,"height":7}},{"id":"13337dfd-5406-4d56-81d6-b241fc0f798f","block_type":"box","text":"Royal London Europe ex UK Equity Tilt","page_number":30,"box":{"x":129,"y":510,"width":202,"height":7}},{"id":"2960a890-9e0c-47d4-ad8b-d6b5c527c87f","block_type":"box","text":"Fund R Acc","page_number":30,"box":{"x":129,"y":519,"width":60,"height":6}},{"id":"778dc7ab-354e-4afa-b1d3-5b2879a29b69","block_type":"box","text":"†","page_number":30,"box":{"x":189,"y":519,"width":3,"height":4}},{"id":"df6388d1-246e-4e72-9cca-30f07a12603a","block_type":"box","text":"9,644","page_number":30,"box":{"x":371,"y":519,"width":28,"height":7}},{"id":"2b15b1dc-3b4d-46e3-b7e7-96844cceea3d","block_type":"box","text":"1.20","page_number":30,"box":{"x":451,"y":519,"width":21,"height":6}},{"id":"bf76441b-80cf-4677-aa7b-08a59092091b","block_type":"box","text":"12,009,855","page_number":30,"box":{"x":63,"y":529,"width":57,"height":7}},{"id":"8ca56866-bbfe-4848-bae6-fad52e1dbf3e","block_type":"box","text":"Royal London Global Equity Diversified","page_number":30,"box":{"x":129,"y":528,"width":202,"height":8}},{"id":"02ec1023-5fe4-44c5-9d26-e2dcf12882da","block_type":"box","text":"Fund R Acc","page_number":30,"box":{"x":129,"y":538,"width":60,"height":6}},{"id":"18194a25-5d86-4f53-a77b-96fb1a62b424","block_type":"box","text":"†","page_number":30,"box":{"x":189,"y":538,"width":3,"height":4}},{"id":"826b63c7-824e-42de-94aa-729483f23706","block_type":"box","text":"35,831","page_number":30,"box":{"x":364,"y":538,"width":33,"height":7}},{"id":"98cafc5b-00de-4d10-92ac-f984bd30d6f7","block_type":"box","text":"4.46","page_number":30,"box":{"x":450,"y":538,"width":22,"height":6}},{"id":"bc1b2f64-d94f-4ec4-9ca9-e0360e4e5c32","block_type":"box","text":"20,871,385","page_number":30,"box":{"x":62,"y":548,"width":58,"height":7}},{"id":"92dabdc8-9fc1-49c2-866b-0bde9053c975","block_type":"box","text":"Royal London Global Equity Enhanced","page_number":30,"box":{"x":129,"y":547,"width":200,"height":8}},{"id":"f0a9f634-feab-44cd-929f-1e0e4f4355c0","block_type":"box","text":"Fund R Acc","page_number":30,"box":{"x":129,"y":557,"width":60,"height":6}},{"id":"d29424e6-ea37-4734-8588-296f501459ec","block_type":"box","text":"†","page_number":30,"box":{"x":189,"y":557,"width":3,"height":4}},{"id":"c2276733-58d6-4da3-840c-414c4d8d30e7","block_type":"box","text":"36,473","page_number":30,"box":{"x":364,"y":557,"width":35,"height":7}},{"id":"95154667-e578-4318-b600-89316be11c5b","block_type":"box","text":"4.54","page_number":30,"box":{"x":450,"y":557,"width":22,"height":6}},{"id":"ec4828cd-9093-4b1c-96d1-769dc4158b6b","block_type":"box","text":"11,000,000","page_number":30,"box":{"x":64,"y":567,"width":56,"height":7}},{"id":"43b82142-8a2d-41f2-afe6-0357f8fb6191","block_type":"box","text":"Royal London Global Equity Tilt Fund","page_number":30,"box":{"x":129,"y":566,"width":192,"height":8}},{"id":"70b5acac-742c-4df2-a6c6-13bdbe5734b4","block_type":"box","text":"R Acc","page_number":30,"box":{"x":129,"y":576,"width":30,"height":6}},{"id":"9dfd01ef-9e45-4301-9123-db7928673926","block_type":"box","text":"†","page_number":30,"box":{"x":159,"y":576,"width":3,"height":4}},{"id":"699f0fe9-f7fc-4b99-823a-7b25eef3a870","block_type":"box","text":"12,287","page_number":30,"box":{"x":365,"y":576,"width":34,"height":7}},{"id":"86f123d7-666c-4a74-a066-4a552b95cfa6","block_type":"box","text":"1.53","page_number":30,"box":{"x":451,"y":576,"width":21,"height":6}},{"id":"ed0a936d-e331-4039-84d0-85ad39986e8c","block_type":"box","text":"2,661,496","page_number":30,"box":{"x":69,"y":586,"width":51,"height":7}},{"id":"13a18b03-d537-4bee-b103-786c637b3a41","block_type":"box","text":"Royal London Japan Equity Tilt Fund","page_number":30,"box":{"x":129,"y":586,"width":190,"height":7}},{"id":"c1a2989d-26cb-494b-a1e1-ce6c8a3b22b0","block_type":"box","text":"R Acc","page_number":30,"box":{"x":129,"y":595,"width":30,"height":6}},{"id":"f87093f4-ddf4-4f1d-ba20-2635e33d0575","block_type":"box","text":"†","page_number":30,"box":{"x":159,"y":595,"width":3,"height":4}},{"id":"137ac254-8913-4879-b9f6-799e78236edc","block_type":"box","text":"4,941","page_number":30,"box":{"x":370,"y":595,"width":27,"height":7}},{"id":"a9b2b5b0-09d7-425b-b566-cfb922be419a","block_type":"box","text":"0.62","page_number":30,"box":{"x":450,"y":595,"width":22,"height":6}},{"id":"feefab96-e011-47be-9a73-87ef76536db2","block_type":"box","text":"6,810,823","page_number":30,"box":{"x":69,"y":605,"width":51,"height":7}},{"id":"db00c0d4-438e-480c-aaa8-e9557a235355","block_type":"box","text":"Royal London Property Trust A Acc","page_number":30,"box":{"x":129,"y":605,"width":181,"height":7}},{"id":"a56b859b-9fbf-4034-a2cd-c7828614a48e","block_type":"box","text":"†","page_number":30,"box":{"x":310,"y":605,"width":3,"height":4}},{"id":"b0dd5c70-7fa7-4bdf-8ac1-ed98456c70d2","block_type":"box","text":"60,016","page_number":30,"box":{"x":364,"y":605,"width":35,"height":7}},{"id":"f3179561-ad03-4261-86ca-93f83a54b0b3","block_type":"box","text":"7.47","page_number":30,"box":{"x":450,"y":605,"width":22,"height":6}},{"id":"4300c841-af85-432e-a395-e5f39606cb87","block_type":"box","text":"31,330,647","page_number":30,"box":{"x":63,"y":614,"width":57,"height":7}},{"id":"1a4c61b4-a943-4d48-8354-cf76cc7c12aa","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund","page_number":30,"box":{"x":129,"y":614,"width":209,"height":8}},{"id":"7d392105-54c8-4c81-bbdb-976d0b77495f","block_type":"box","text":"R Acc","page_number":30,"box":{"x":129,"y":624,"width":30,"height":6}},{"id":"dd120d7c-35e0-4e1d-96b2-d0e62ea4387d","block_type":"box","text":"†","page_number":30,"box":{"x":159,"y":624,"width":3,"height":4}},{"id":"49095355-480d-4b77-b099-347253bf54c2","block_type":"box","text":"51,028","page_number":30,"box":{"x":364,"y":624,"width":35,"height":7}},{"id":"e8dcf616-1261-4f44-ae90-43b878e786c0","block_type":"box","text":"6.36","page_number":30,"box":{"x":450,"y":624,"width":22,"height":6}},{"id":"01c747d3-586f-4656-96d4-f9a01accb55c","block_type":"box","text":"6,809,647","page_number":30,"box":{"x":69,"y":633,"width":51,"height":7}},{"id":"674cbf75-2630-4967-9c8f-0a05acf086a6","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":30,"box":{"x":129,"y":633,"width":209,"height":8}},{"id":"a2b162fc-6485-474a-8e42-612e6e78701f","block_type":"box","text":"†","page_number":30,"box":{"x":339,"y":633,"width":3,"height":4}},{"id":"d914cbe8-1b15-4d28-a484-63bc66fd436e","block_type":"box","text":"19,219","page_number":30,"box":{"x":365,"y":633,"width":34,"height":7}},{"id":"6c846b94-9fae-4bff-9583-0fb9666c1c53","block_type":"box","text":"2.39","page_number":30,"box":{"x":450,"y":633,"width":22,"height":6}},{"id":"62b01fba-aba6-459d-ae99-fcc756ba1794","block_type":"box","text":"Total Equity Collective Investment Schemes","page_number":30,"box":{"x":57,"y":649,"width":245,"height":8}},{"id":"0e24b368-d6fd-4ad1-a2fd-ac786cb2705e","block_type":"box","text":"268,404","page_number":30,"box":{"x":357,"y":649,"width":42,"height":8}},{"id":"ea00a383-d519-4e80-bfb0-b7c3e92fe155","block_type":"box","text":"33.42","page_number":30,"box":{"x":443,"y":649,"width":29,"height":6}},{"id":"40c476b5-3f37-4eaa-b0cb-fe711445a743","block_type":"box","text":"Exchange Traded Commodities – 0.00% (31/12/25 – 2.00%)","page_number":30,"box":{"x":58,"y":675,"width":331,"height":8}},{"id":"c76072e6-70d9-4ec8-9978-7a514d52d0d2","block_type":"box","text":"Exchange Traded Funds – 5.10% (31/12/25 – 5.42%)","page_number":30,"box":{"x":58,"y":694,"width":288,"height":8}},{"id":"97e39601-18dd-4fe1-bc29-4f8aade2763d","block_type":"box","text":"1,465,606","page_number":30,"box":{"x":70,"y":704,"width":50,"height":7}},{"id":"20b21f11-3fe1-4a95-ae71-fb73ff35454b","block_type":"box","text":"Invesco Bloomberg Commodity Carbon","page_number":30,"box":{"x":129,"y":703,"width":203,"height":8}},{"id":"c05a0260-ecfc-4910-9248-4b075c4357ad","block_type":"box","text":"Tilted UCITS ETF","page_number":30,"box":{"x":128,"y":713,"width":92,"height":6}},{"id":"7060c49a-1dbe-407f-8628-2a9fd2dce333","block_type":"box","text":"7,777","page_number":30,"box":{"x":371,"y":713,"width":28,"height":7}},{"id":"23a07898-84fb-4a5a-b4c6-a50f0b71924f","block_type":"box","text":"0.97","page_number":30,"box":{"x":450,"y":713,"width":22,"height":6}},{"id":"f5471642-aeaf-4db8-b668-4005a5190b48","block_type":"box","text":"1,385,765","page_number":30,"box":{"x":70,"y":723,"width":50,"height":7}},{"id":"7cfdad55-d4d1-4617-8dbf-5eb7a6f91104","block_type":"box","text":"iShares Bloomberg Roll Select Commodity","page_number":30,"box":{"x":129,"y":722,"width":221,"height":8}},{"id":"bcf5b3a4-79be-4ced-b175-7882f18e4d78","block_type":"box","text":"Swap UCITS ETF","page_number":30,"box":{"x":129,"y":732,"width":92,"height":8}},{"id":"2cb84a70-77d0-4d60-a1dd-aa19863fab45","block_type":"box","text":"10,459","page_number":30,"box":{"x":365,"y":732,"width":34,"height":7}},{"id":"d541601b-e2b2-4bae-8c54-57196e19bf71","block_type":"box","text":"1.30","page_number":30,"box":{"x":451,"y":732,"width":21,"height":6}},{"id":"1c7e692a-ca84-449a-93a4-a5ae830e815d","block_type":"box","text":"11,048","page_number":30,"box":{"x":87,"y":742,"width":33,"height":7}},{"id":"03c6a433-5e5f-47a4-bb36-0215957aa21d","block_type":"box","text":"iShares MSCI Canada UCITS ETF","page_number":30,"box":{"x":129,"y":741,"width":180,"height":7}},{"id":"7d5862fe-e4eb-4e7c-acc9-07c1c15fd70c","block_type":"box","text":"2,488","page_number":30,"box":{"x":370,"y":742,"width":29,"height":7}},{"id":"e08c69b4-531e-4994-8ae4-8a6003ece419","block_type":"box","text":"0.31","page_number":30,"box":{"x":450,"y":742,"width":20,"height":6}},{"id":"13f72a2b-cf1b-471a-aefa-ce1182b895ec","block_type":"box","text":"625,554","page_number":30,"box":{"x":79,"y":751,"width":41,"height":7}},{"id":"379adf7a-8f91-46f2-aabe-5d8e29faba0f","block_type":"box","text":"UBS (IRL) Fund Solutions – UCITS ETF","page_number":30,"box":{"x":129,"y":751,"width":208,"height":8}},{"id":"65541de0-0ce3-498c-a5bb-cf46af5b41a1","block_type":"box","text":"B Acc","page_number":30,"box":{"x":129,"y":761,"width":29,"height":6}},{"id":"660fe99e-e1ee-40ba-a936-d3e090bb753a","block_type":"box","text":"9,879","page_number":30,"box":{"x":371,"y":761,"width":28,"height":7}},{"id":"3863683a-357f-44c3-baf5-88e90147db48","block_type":"box","text":"1.23","page_number":30,"box":{"x":451,"y":761,"width":21,"height":6}},{"id":"c4163134-448b-4e1b-aa23-23ca55311758","block_type":"box","text":"686,936","page_number":30,"box":{"x":79,"y":770,"width":41,"height":7}},{"id":"c1f70237-daf7-4081-b2ba-7f70f4dcb6fe","block_type":"box","text":"Wisdomtree Enhanced C ETF","page_number":30,"box":{"x":128,"y":770,"width":156,"height":6}},{"id":"680cdf5e-0c3e-4dda-8774-3ef5c0d39570","block_type":"box","text":"10,355","page_number":30,"box":{"x":365,"y":770,"width":34,"height":7}},{"id":"2b3e3f03-9c63-4ecf-90a5-4f09e78a003f","block_type":"box","text":"1.29","page_number":30,"box":{"x":451,"y":770,"width":21,"height":6}},{"id":"22923396-e573-4826-9fc0-9d39a265b5ae","block_type":"box","text":"Total Exchange Traded Funds","page_number":30,"box":{"x":57,"y":786,"width":165,"height":8}},{"id":"7a533ae9-85d1-4d49-954f-b3487a74a19a","block_type":"box","text":"40,958","page_number":30,"box":{"x":364,"y":786,"width":35,"height":8}},{"id":"b3331b05-fa23-4d71-975b-a78ae4f1fd0c","block_type":"box","text":"5.10","page_number":30,"box":{"x":450,"y":786,"width":22,"height":6}},{"id":"63ee8626-fd52-4eb1-a7ff-6f810c1954af","block_type":"box","text":"Holding","page_number":30,"box":{"x":58,"y":177,"width":43,"height":8}},{"id":"d6c88e87-67bb-4509-9e01-98ab3eb8430a","block_type":"box","text":"Investment","page_number":30,"box":{"x":129,"y":177,"width":63,"height":6}},{"id":"6e75a067-8450-4b18-aa0a-40652eb70e0e","block_type":"box","text":"Mid-market","page_number":30,"box":{"x":337,"y":158,"width":65,"height":6}},{"id":"b667cb64-4b0a-42e7-8534-5ad5f4880b5d","block_type":"box","text":"value","page_number":30,"box":{"x":371,"y":168,"width":30,"height":6}},{"id":"d69b8ca3-7f0d-4957-b5cd-6b7d6c8b643a","block_type":"box","text":"(£’000)","page_number":30,"box":{"x":364,"y":177,"width":37,"height":8}},{"id":"a085df6a-2159-4e1f-ba8d-207260927bc6","block_type":"box","text":"Total net","page_number":30,"box":{"x":424,"y":168,"width":49,"height":6}},{"id":"02704ec4-d716-4fb9-b120-4d91988e23ce","block_type":"box","text":"assets (%)","page_number":30,"box":{"x":414,"y":177,"width":59,"height":8}},{"id":"e487d6c6-2ab5-4314-a5c1-947e507d86ad","block_type":"box","text":"Holding","page_number":30,"box":{"x":522,"y":177,"width":43,"height":8}},{"id":"95e3e2fd-2af7-4fcd-9c81-101ffde7126d","block_type":"box","text":"Investment","page_number":30,"box":{"x":593,"y":177,"width":63,"height":6}},{"id":"3a5274d9-974e-4d36-ad47-c62a46ab99e5","block_type":"box","text":"Mid-market","page_number":30,"box":{"x":802,"y":158,"width":64,"height":6}},{"id":"5861dd9e-0173-4e8f-a4e1-ea4f34822e21","block_type":"box","text":"value","page_number":30,"box":{"x":835,"y":168,"width":31,"height":6}},{"id":"ad8c7262-1cda-48de-b09d-177763072197","block_type":"box","text":"(£’000)","page_number":30,"box":{"x":828,"y":177,"width":38,"height":8}},{"id":"f5036d31-7c3c-4687-ba7a-99911bfe685e","block_type":"box","text":"Total net","page_number":30,"box":{"x":888,"y":168,"width":49,"height":6}},{"id":"44299bce-0124-4097-896c-ed3fe7a05677","block_type":"box","text":"assets (%)","page_number":30,"box":{"x":879,"y":177,"width":58,"height":8}},{"id":"4eda8309-c7b4-4d5c-a951-2f75fc2b67e9","block_type":"box","text":"Forward Currency Contracts – 0.08% (31/12/25 – (0.06)%)","page_number":30,"box":{"x":522,"y":202,"width":322,"height":7}},{"id":"e082a697-40d6-4951-840f-f86501ab94cb","block_type":"box","text":"Buy AUD4,792,677 & Sell £2,540,765*","page_number":30,"box":{"x":593,"y":211,"width":200,"height":8}},{"id":"605d6362-25db-4662-b219-9dbeb2b050a7","block_type":"box","text":"(40)","page_number":30,"box":{"x":848,"y":211,"width":19,"height":8}},{"id":"2787db79-cd2f-4c11-9492-9afaa6527608","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":215,"width":7,"height":0}},{"id":"459f2d66-08af-42cf-ba6a-754a9d889a7e","block_type":"box","text":"Buy €998,751 & Sell £864,590*","page_number":30,"box":{"x":593,"y":221,"width":162,"height":7}},{"id":"93482a8e-6dee-4afc-b6b3-0b9cd252aaa9","block_type":"box","text":"(4)","page_number":30,"box":{"x":854,"y":221,"width":13,"height":7}},{"id":"50aa4294-6246-4f8b-8ea7-f07e25efb384","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":224,"width":7,"height":1}},{"id":"1c6583c1-3e59-45db-b881-873d0100ad83","block_type":"box","text":"Buy £8,362 & Sell CAD15,692*","page_number":30,"box":{"x":593,"y":230,"width":161,"height":8}},{"id":"35ecc6c3-a2e8-4b81-b118-ce025c51b2af","block_type":"box","text":"+","page_number":30,"box":{"x":755,"y":231,"width":3,"height":2}},{"id":"8b89557f-2665-4960-a294-c883baaaa9c2","block_type":"box","text":"–","page_number":30,"box":{"x":857,"y":234,"width":7,"height":0}},{"id":"48b61d84-4045-4bf6-b479-0d791d629013","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":234,"width":7,"height":0}},{"id":"c61f295d-8608-44d1-ac67-2e09e276e6a2","block_type":"box","text":"Buy £2,084,143 & Sell CHF2,216,155*","page_number":30,"box":{"x":593,"y":240,"width":200,"height":7}},{"id":"3cd97647-b3d5-4c66-9fa7-dc51864a8d1b","block_type":"box","text":"10","page_number":30,"box":{"x":852,"y":240,"width":11,"height":6}},{"id":"97e0694f-4967-4820-87ab-a108a33a005f","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":243,"width":7,"height":1}},{"id":"251f6525-b10e-4c5c-9643-4d526df7697b","block_type":"box","text":"Buy £611,217 & Sell $808,763*","page_number":30,"box":{"x":593,"y":249,"width":162,"height":8}},{"id":"eadb4bd3-8aa3-4a29-87a1-5283fe7d0b68","block_type":"box","text":"2","page_number":30,"box":{"x":858,"y":249,"width":5,"height":6}},{"id":"b9ee2675-40c7-4249-807b-6b533bfa4c3d","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":253,"width":7,"height":0}},{"id":"f6666899-2844-4b20-bd1e-23a5978cc68f","block_type":"box","text":"Buy £4,269,208 & Sell AUD8,109,700*","page_number":30,"box":{"x":593,"y":259,"width":200,"height":7}},{"id":"b8d8800e-1483-49f9-b7f7-3e34258e73fd","block_type":"box","text":"38","page_number":30,"box":{"x":851,"y":259,"width":12,"height":6}},{"id":"c820194b-f063-45a7-bd3b-22fbbe952cbc","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":262,"width":7,"height":1}},{"id":"b9271962-6c91-4618-b7ee-7f045072c329","block_type":"box","text":"Buy £2,999,182 & Sell SEK37,758,506*","page_number":30,"box":{"x":593,"y":268,"width":206,"height":8}},{"id":"a5237735-d3ff-474f-9a7e-7e570251c54a","block_type":"box","text":"57","page_number":30,"box":{"x":851,"y":268,"width":12,"height":6}},{"id":"2126fe07-3278-4aff-919e-8068c875fe30","block_type":"box","text":"0.01","page_number":30,"box":{"x":914,"y":268,"width":20,"height":6}},{"id":"ac7ca882-2d46-4f4b-8611-31687a574ea0","block_type":"box","text":"Buy £3,241,221 & Sell NOK41,461,059*","page_number":30,"box":{"x":593,"y":278,"width":207,"height":7}},{"id":"78e9f05f-f035-4fb6-b8de-c6df2229d60e","block_type":"box","text":"85","page_number":30,"box":{"x":851,"y":278,"width":12,"height":6}},{"id":"f4ad5587-789a-4b33-8ee2-dca3a1ae558f","block_type":"box","text":"0.01","page_number":30,"box":{"x":914,"y":278,"width":20,"height":6}},{"id":"74c28fef-d1ac-46dd-b4ba-12d0676ef979","block_type":"box","text":"Buy £3,239,345 & Sell €3,734,690*","page_number":30,"box":{"x":593,"y":287,"width":182,"height":8}},{"id":"b7e2d5f7-ac1e-4dad-a97a-badf75d3333c","block_type":"box","text":"20","page_number":30,"box":{"x":851,"y":287,"width":12,"height":6}},{"id":"bfde3c15-935a-4fec-ba64-4cae9868e7e8","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":291,"width":7,"height":0}},{"id":"89538e0d-e167-414a-977f-085d09fe744b","block_type":"box","text":"Buy $62,903,222 & Sell £46,880,656*","page_number":30,"box":{"x":593,"y":296,"width":195,"height":8}},{"id":"27c82812-2b81-41e9-a85b-2a19fd8c897b","block_type":"box","text":"513","page_number":30,"box":{"x":845,"y":297,"width":18,"height":6}},{"id":"1847d6ff-f3c7-4ae9-89c1-4a815754b5aa","block_type":"box","text":"0.06","page_number":30,"box":{"x":914,"y":297,"width":22,"height":6}},{"id":"3755a146-8f3b-471b-972a-03c1640522c4","block_type":"box","text":"Buy JPY444,840,246 & Sell £2,072,538*","page_number":30,"box":{"x":593,"y":306,"width":210,"height":8}},{"id":"feb6dad4-3fae-459c-b781-377a497e47df","block_type":"box","text":"(7)","page_number":30,"box":{"x":854,"y":306,"width":13,"height":8}},{"id":"66c437a9-c0c0-47bd-960f-91779d9d526c","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":310,"width":7,"height":0}},{"id":"ce77860c-cb17-409d-8ecc-4ff4378c3503","block_type":"box","text":"Buy SEK18,702,264 & Sell £1,479,856*","page_number":30,"box":{"x":593,"y":316,"width":206,"height":7}},{"id":"0cc80d21-3ba3-4982-93f6-64da121af7e6","block_type":"box","text":"(22)","page_number":30,"box":{"x":848,"y":316,"width":19,"height":7}},{"id":"510314b9-796a-4700-8263-19331ce5f2b1","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":319,"width":7,"height":1}},{"id":"78897553-73af-43f8-8b54-166301b2956a","block_type":"box","text":"Buy SGD3,457,986 & Sell £2,014,587*","page_number":30,"box":{"x":593,"y":325,"width":201,"height":8}},{"id":"e0214ec7-7b52-424a-84e8-be07cf4384ad","block_type":"box","text":"2","page_number":30,"box":{"x":858,"y":325,"width":5,"height":6}},{"id":"deaa6e4b-8a4d-4aa5-8ed3-fa471a0d2eec","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":329,"width":7,"height":0}},{"id":"40278168-c86e-4ced-b989-81ecf0cf2a2f","block_type":"box","text":"Total Forward Currency Contracts","page_number":30,"box":{"x":521,"y":341,"width":189,"height":8}},{"id":"b042a84a-55f7-4e4e-bfa2-afeebe2a901b","block_type":"box","text":"654","page_number":30,"box":{"x":845,"y":341,"width":19,"height":6}},{"id":"3136892a-d1e9-4f3b-814d-455a709b9116","block_type":"box","text":"0.08","page_number":30,"box":{"x":914,"y":341,"width":22,"height":6}},{"id":"00193de9-31e5-42c0-ba4b-a47cdc231e4d","block_type":"box","text":"Futures – 0.07% (31/12/25 – 0.05%)","page_number":30,"box":{"x":522,"y":358,"width":194,"height":7}},{"id":"e5e38bcc-6874-43f6-91e9-34fc2456e515","block_type":"box","text":"(671)","page_number":30,"box":{"x":558,"y":367,"width":27,"height":8}},{"id":"152a5773-6bff-4d65-bca9-851625348908","block_type":"box","text":"CBT Bcom Commodity Index Future","page_number":30,"box":{"x":593,"y":367,"width":188,"height":8}},{"id":"4f9606f0-9154-4a0d-a3c6-d87958157ffe","block_type":"box","text":"September 2026","page_number":30,"box":{"x":593,"y":377,"width":86,"height":7}},{"id":"ee29406f-295b-4ddd-9542-77f0bd550f83","block_type":"box","text":"163","page_number":30,"box":{"x":845,"y":377,"width":18,"height":6}},{"id":"3c0b67d7-8c9f-4f23-9cdd-4b124b62a0c8","block_type":"box","text":"0.02","page_number":30,"box":{"x":914,"y":377,"width":22,"height":6}},{"id":"410a9ce2-647a-4c12-af5b-90aa56738a45","block_type":"box","text":"(64)","page_number":30,"box":{"x":565,"y":386,"width":20,"height":8}},{"id":"40507651-31b1-4857-aaba-3871f4fe8858","block_type":"box","text":"CBT US 10Year Note Future September 2026","page_number":30,"box":{"x":593,"y":386,"width":237,"height":8}},{"id":"3b4cfd8d-b350-4390-bace-65a58ec095e1","block_type":"box","text":"(19)","page_number":30,"box":{"x":848,"y":386,"width":19,"height":8}},{"id":"9642eeda-8fd0-4da4-8120-badaae05bf87","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":390,"width":7,"height":0}},{"id":"fa10b32a-9ea7-4a23-aed4-681d62114e42","block_type":"box","text":"(46)","page_number":30,"box":{"x":565,"y":396,"width":20,"height":7}},{"id":"a9e5f6d5-e3ab-49f6-a1de-caf598ec3375","block_type":"box","text":"CME S&P500 E-Mini Consumer Services","page_number":30,"box":{"x":593,"y":396,"width":214,"height":6}},{"id":"00ee5b8e-dcb3-4842-9a18-a46f5cb22c6f","block_type":"box","text":"September 2026","page_number":30,"box":{"x":593,"y":405,"width":86,"height":8}},{"id":"43112aa8-e156-45dd-9590-1bcc93323096","block_type":"box","text":"(34)","page_number":30,"box":{"x":848,"y":405,"width":19,"height":8}},{"id":"0d9e03a7-4a51-4b29-a96f-134c8beea0f9","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":409,"width":7,"height":0}},{"id":"4e136c11-e5fb-4c9a-b3e2-86cc4e08ccfe","block_type":"box","text":"141","page_number":30,"box":{"x":567,"y":415,"width":16,"height":6}},{"id":"f3e665e8-07c6-4151-aa80-644157a1cf73","block_type":"box","text":"CME S&P500 E-Mini Future September 2026","page_number":30,"box":{"x":593,"y":415,"width":235,"height":7}},{"id":"a193cc86-e9d3-485a-888f-80e64e98fda2","block_type":"box","text":"251","page_number":30,"box":{"x":845,"y":415,"width":17,"height":6}},{"id":"d7a0cbbe-23a8-4bd6-93fb-dfdd672b687f","block_type":"box","text":"0.03","page_number":30,"box":{"x":914,"y":415,"width":22,"height":6}},{"id":"1791a95b-a4e1-41a4-94a8-c46b18d41f66","block_type":"box","text":"(12)","page_number":30,"box":{"x":565,"y":424,"width":20,"height":8}},{"id":"c8affd22-0841-461d-ad89-df362da644ec","block_type":"box","text":"CME XAB Materials Future September 2026","page_number":30,"box":{"x":593,"y":424,"width":230,"height":8}},{"id":"65a625ce-77a8-4079-af2e-7d47a492a6d0","block_type":"box","text":"6","page_number":30,"box":{"x":858,"y":424,"width":5,"height":6}},{"id":"fc29e154-8c63-4882-aa8e-06aaa9bd0bb2","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":428,"width":7,"height":0}},{"id":"d6e85092-e48c-44d0-a73d-8764144150e6","block_type":"box","text":"(56)","page_number":30,"box":{"x":565,"y":434,"width":20,"height":7}},{"id":"774add99-dbb1-4c85-bafc-1670b29e453b","block_type":"box","text":"CME XAE Energy Future September 2026","page_number":30,"box":{"x":593,"y":434,"width":220,"height":7}},{"id":"e001838a-db04-47fa-97f2-c7ffcd56c076","block_type":"box","text":"101","page_number":30,"box":{"x":845,"y":434,"width":17,"height":6}},{"id":"1cf581a0-7845-402c-8a32-e2b04b759116","block_type":"box","text":"0.01","page_number":30,"box":{"x":914,"y":434,"width":21,"height":6}},{"id":"55e91b18-3eda-48f0-912a-eb9b9f346a67","block_type":"box","text":"12","page_number":30,"box":{"x":573,"y":443,"width":12,"height":6}},{"id":"c2ea7626-7cf5-43ad-8715-5cc9abe1118c","block_type":"box","text":"CME XAF Financial Future September 2026","page_number":30,"box":{"x":593,"y":443,"width":229,"height":8}},{"id":"dc8489bc-adf0-402e-9c5f-aedfaa2bc73a","block_type":"box","text":"4","page_number":30,"box":{"x":857,"y":443,"width":6,"height":6}},{"id":"3b8d08f1-58cd-45f1-8e87-40f28aaaba39","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":447,"width":7,"height":0}},{"id":"fb47c2c4-208a-4fca-a1dc-bce3823abd52","block_type":"box","text":"22","page_number":30,"box":{"x":572,"y":453,"width":13,"height":6}},{"id":"cfa2590d-caf3-4dc6-8d61-a971688935c1","block_type":"box","text":"CME XAK Technology Future September 2026","page_number":30,"box":{"x":593,"y":453,"width":242,"height":7}},{"id":"bc979289-0746-4d48-87e4-3f7b7e052354","block_type":"box","text":"(37)","page_number":30,"box":{"x":848,"y":453,"width":19,"height":7}},{"id":"81af35b1-4edd-40a3-bb9a-330772012259","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":456,"width":7,"height":1}},{"id":"59c4e049-079b-4b05-a11e-8e854e98b975","block_type":"box","text":"15","page_number":30,"box":{"x":573,"y":462,"width":12,"height":6}},{"id":"33d0d4f5-a4c7-47d2-8e69-fb85f7f5a5ae","block_type":"box","text":"CME XAP Consumer Staples Futures","page_number":30,"box":{"x":593,"y":462,"width":195,"height":8}},{"id":"e75b9215-9433-49ce-ae24-4988430dbc1a","block_type":"box","text":"September 2026","page_number":30,"box":{"x":593,"y":472,"width":86,"height":7}},{"id":"b0ed730e-75b3-4e10-ba6d-58add46194d2","block_type":"box","text":"(17)","page_number":30,"box":{"x":848,"y":472,"width":19,"height":7}},{"id":"8045d530-7ac0-412c-8efe-ba9a2a6682d7","block_type":"box","text":"–","page_number":30,"box":{"x":930,"y":475,"width":7,"height":1}},{"id":"dfa71558-c3ab-4b94-924f-d1cc368e85c0","block_type":"box","text":"96","page_number":30,"box":{"x":573,"y":481,"width":12,"height":6}},{"id":"06268bbc-a1a1-4c37-87bd-e0d565b07852","block_type":"box","text":"CME XAU Utilities Future September 2026","page_number":30,"box":{"x":593,"y":481,"width":221,"height":8}},{"id":"e8c37a0a-a5bf-4adc-8bcd-979e76c360f7","block_type":"box","text":"(146)","page_number":30,"box":{"x":841,"y":481,"width":26,"height":8}},{"id":"9cb1ea79-a361-4653-a5e8-f6c602d33f97","block_type":"box","text":"(0.02)","page_number":30,"box":{"x":911,"y":481,"width":29,"height":8}},{"id":"863e7e3c-e2c1-44e4-bc55-3a5086c73f46","block_type":"box","text":"35","page_number":30,"box":{"x":573,"y":491,"width":12,"height":6}},{"id":"8d86bc4a-e3c8-4290-a247-4828852c7523","block_type":"box","text":"CME XAV Health Care September 2026","page_number":30,"box":{"x":593,"y":491,"width":207,"height":7}},{"id":"3553d7e0-78d1-4be0-b6f0-f0c32f3e68a1","block_type":"box","text":"153","page_number":30,"box":{"x":845,"y":491,"width":18,"height":6}},{"id":"67e710f0-4eef-47ad-b653-249d185a1a84","block_type":"box","text":"0.02","page_number":30,"box":{"x":914,"y":491,"width":22,"height":6}},{"id":"b0996e81-53e0-43c7-a93d-9ba73dbcc7a2","block_type":"box","text":"(50)","page_number":30,"box":{"x":565,"y":500,"width":20,"height":8}},{"id":"e6d15936-88da-408d-9543-1f4d4fcd5b36","block_type":"box","text":"CME XAY Consumer Discretionary Future","page_number":30,"box":{"x":593,"y":500,"width":217,"height":8}},{"id":"d9edf4de-cdc2-4c01-934f-0897b6a98779","block_type":"box","text":"September 2026","page_number":30,"box":{"x":593,"y":510,"width":86,"height":7}},{"id":"45117f37-e209-4056-94cc-29477acbe381","block_type":"box","text":"(136)","page_number":30,"box":{"x":841,"y":510,"width":26,"height":7}},{"id":"831e7323-9d09-4bcb-a025-3ee0e81a8e50","block_type":"box","text":"(0.02)","page_number":30,"box":{"x":911,"y":510,"width":29,"height":7}},{"id":"d2cc75f6-defb-4f4b-ac99-f5e190f1aa29","block_type":"box","text":"224","page_number":30,"box":{"x":566,"y":519,"width":19,"height":6}},{"id":"3e16c54b-2a7e-473a-a9b2-8e165bf23757","block_type":"box","text":"EUX Euro Stoxx 50 Future September 2026","page_number":30,"box":{"x":593,"y":519,"width":228,"height":8}},{"id":"75ba5e22-005c-4e4d-a35b-669a55d347f6","block_type":"box","text":"184","page_number":30,"box":{"x":845,"y":519,"width":18,"height":6}},{"id":"095133a5-87a2-42c3-93c7-79761505e10c","block_type":"box","text":"0.02","page_number":30,"box":{"x":914,"y":519,"width":22,"height":6}},{"id":"249a5d06-538a-4032-bcff-8ff5bf01b4ab","block_type":"box","text":"(48)","page_number":30,"box":{"x":565,"y":529,"width":20,"height":7}},{"id":"ed1fc14f-90a6-44c2-98a1-3d0816e4ed2f","block_type":"box","text":"EUX Euro-Bond Future September 2026","page_number":30,"box":{"x":593,"y":529,"width":210,"height":7}},{"id":"b195ae8b-4788-4133-9e0f-ec40bee9cb4a","block_type":"box","text":"(57)","page_number":30,"box":{"x":848,"y":529,"width":19,"height":7}},{"id":"5e613dd0-df72-499b-a5f2-f2c8569b6b0d","block_type":"box","text":"(0.01)","page_number":30,"box":{"x":911,"y":529,"width":29,"height":7}},{"id":"61b4d83b-2046-4200-8f1b-9292d08a2f85","block_type":"box","text":"(47)","page_number":30,"box":{"x":565,"y":538,"width":20,"height":8}},{"id":"9dcd1f46-f94d-4bbe-b3ab-efae95454a09","block_type":"box","text":"HKG Hang Seng Index Future Spetember","page_number":30,"box":{"x":593,"y":538,"width":217,"height":8}},{"id":"5eeb584f-f4f3-4f7a-9a0d-c8b019942a53","block_type":"box","text":"2026","page_number":30,"box":{"x":593,"y":548,"width":25,"height":6}},{"id":"6d01cb7d-012d-4360-a29e-25e262a288d6","block_type":"box","text":"112","page_number":30,"box":{"x":846,"y":548,"width":17,"height":6}},{"id":"1e9a93da-3204-419a-bfb5-c797af18e2b3","block_type":"box","text":"0.02","page_number":30,"box":{"x":914,"y":548,"width":22,"height":6}},{"id":"9b7ff8cc-d530-4e1d-bb6f-f9eaa1215283","block_type":"box","text":"(51)","page_number":30,"box":{"x":565,"y":557,"width":20,"height":8}},{"id":"c99510ec-57ec-4b9e-bab4-0e9d52a00314","block_type":"box","text":"ICF FTSE 100 Index Future September 2026","page_number":30,"box":{"x":593,"y":557,"width":233,"height":8}},{"id":"eaf215e0-fb28-4b80-94ae-79385f8fcf20","block_type":"box","text":"(41)","page_number":30,"box":{"x":848,"y":557,"width":19,"height":8}},{"id":"0e50ef79-62b1-495e-8964-44dc7cbb99e7","block_type":"box","text":"(0.01)","page_number":30,"box":{"x":911,"y":557,"width":29,"height":8}},{"id":"5462a484-6db3-49ba-968b-c867f3a0f887","block_type":"box","text":"(59)","page_number":30,"box":{"x":565,"y":567,"width":20,"height":7}},{"id":"a95054b9-11d2-43ca-9be4-9e6b025e8cc1","block_type":"box","text":"ICF Long Gilt Future September 2026","page_number":30,"box":{"x":593,"y":567,"width":196,"height":7}},{"id":"549186c5-9633-43a1-8100-5a6266b46dc2","block_type":"box","text":"(68)","page_number":30,"box":{"x":848,"y":567,"width":19,"height":7}},{"id":"bd3509c9-7688-4cbe-815b-43e00ad3e5cd","block_type":"box","text":"(0.01)","page_number":30,"box":{"x":911,"y":567,"width":29,"height":7}},{"id":"1d3b7b2d-53c0-4dd6-a86b-ea4c666379a2","block_type":"box","text":"250","page_number":30,"box":{"x":566,"y":576,"width":19,"height":6}},{"id":"46ad4db3-7487-4d6d-8cba-c36544dbbcc9","block_type":"box","text":"NYF MSCI Emerging Market Future","page_number":30,"box":{"x":593,"y":576,"width":185,"height":8}},{"id":"59c432f6-e9f9-40c1-bd4a-32bb83a9ae32","block_type":"box","text":"September 2026","page_number":30,"box":{"x":593,"y":586,"width":86,"height":7}},{"id":"2e95990e-979d-4d01-943c-2e379c1c17b8","block_type":"box","text":"(319)","page_number":30,"box":{"x":841,"y":586,"width":26,"height":7}},{"id":"0daaf33b-3943-436b-bdfd-09124d7f4565","block_type":"box","text":"(0.04)","page_number":30,"box":{"x":911,"y":586,"width":29,"height":7}},{"id":"8b2a274c-6d28-442f-9c20-5f68000f7573","block_type":"box","text":"250","page_number":30,"box":{"x":566,"y":595,"width":19,"height":6}},{"id":"1655b982-0695-4624-aebe-632fb32c4332","block_type":"box","text":"OSE Nikkei 225 MINI September 2026","page_number":30,"box":{"x":593,"y":595,"width":200,"height":8}},{"id":"e8843574-96bd-418d-a185-202bd3cda903","block_type":"box","text":"238","page_number":30,"box":{"x":845,"y":595,"width":18,"height":6}},{"id":"933d38a1-eb67-42a4-ae97-576bcdaba5bc","block_type":"box","text":"0.03","page_number":30,"box":{"x":914,"y":595,"width":22,"height":6}},{"id":"7a5bf148-fc4f-4da9-960e-1d904af52ad4","block_type":"box","text":"45","page_number":30,"box":{"x":572,"y":605,"width":13,"height":6}},{"id":"145c3a3c-9b91-44f6-aab4-35bb50d03258","block_type":"box","text":"OSE Topix Index Future September 2026","page_number":30,"box":{"x":593,"y":605,"width":214,"height":7}},{"id":"6ff93ada-e08e-449a-81e7-25fc7a94b97a","block_type":"box","text":"74","page_number":30,"box":{"x":851,"y":605,"width":12,"height":6}},{"id":"bdad0ea0-e9e3-4e41-900c-870bb81bcdab","block_type":"box","text":"0.01","page_number":30,"box":{"x":914,"y":605,"width":21,"height":6}},{"id":"98c9e4d1-e5a0-424a-a038-ae8044e8465b","block_type":"box","text":"(107)","page_number":30,"box":{"x":558,"y":614,"width":27,"height":8}},{"id":"4651c79c-3854-4aa4-89cb-5fe9ed6e2db3","block_type":"box","text":"SFE SPI 200 Future September 2026","page_number":30,"box":{"x":593,"y":614,"width":194,"height":8}},{"id":"f539cd5c-b16b-4481-a3e0-58a1345fa0e8","block_type":"box","text":"160","page_number":30,"box":{"x":845,"y":614,"width":18,"height":6}},{"id":"7c105a74-51c1-40f3-ba78-e0be8fe14d03","block_type":"box","text":"0.02","page_number":30,"box":{"x":914,"y":614,"width":22,"height":6}},{"id":"b1712261-a11f-498d-8209-65715f576bc7","block_type":"box","text":"Total Futures","page_number":30,"box":{"x":521,"y":630,"width":73,"height":6}},{"id":"ee9cbb08-7f52-4ee7-b0df-ffdfb243207e","block_type":"box","text":"572","page_number":30,"box":{"x":845,"y":630,"width":18,"height":6}},{"id":"ffda58de-5eec-4c58-ad7b-9593582a24c8","block_type":"box","text":"0.07","page_number":30,"box":{"x":914,"y":630,"width":22,"height":6}},{"id":"76a07156-7c7e-4f37-b97e-ef0fbf94bae3","block_type":"box","text":"Total value of investments","page_number":30,"box":{"x":521,"y":672,"width":146,"height":6}},{"id":"e3617c02-1c42-47fc-966b-795d3cca9a34","block_type":"box","text":"^","page_number":30,"box":{"x":668,"y":672,"width":3,"height":2}},{"id":"487a7528-f531-44b9-a8b9-4d6b815af740","block_type":"box","text":"792,228","page_number":30,"box":{"x":822,"y":672,"width":41,"height":8}},{"id":"7ab222cc-81b0-428c-a395-3221911603b6","block_type":"box","text":"98.63","page_number":30,"box":{"x":908,"y":672,"width":28,"height":6}},{"id":"9d6247ec-4562-4bb3-b9bb-38e57b85c152","block_type":"box","text":"Net other assets","page_number":30,"box":{"x":522,"y":689,"width":90,"height":6}},{"id":"44c42099-25bc-4716-9a02-bdaae75d5d8f","block_type":"box","text":"11,033","page_number":30,"box":{"x":829,"y":689,"width":34,"height":7}},{"id":"3b99fdf0-727b-4970-91ce-f0d9d3531b0d","block_type":"box","text":"1.37","page_number":30,"box":{"x":915,"y":689,"width":21,"height":6}},{"id":"0e809108-bb8c-4120-b007-be112104ad4d","block_type":"box","text":"Total net assets","page_number":30,"box":{"x":521,"y":705,"width":87,"height":6}},{"id":"96ca830a-d21e-4647-a40e-a8596bd0bc2f","block_type":"box","text":"803,261","page_number":30,"box":{"x":822,"y":705,"width":40,"height":7}},{"id":"5b00ecad-6770-44fb-b0eb-189e3051604e","block_type":"box","text":"100.00","page_number":30,"box":{"x":902,"y":705,"width":34,"height":6}},{"id":"209508c7-e4f9-4d39-a4dd-81519f6e8d80","block_type":"box","text":"†","page_number":30,"box":{"x":521,"y":722,"width":4,"height":5}},{"id":"ddcbf9a2-0da1-480d-8e4c-cf67d2664a1a","block_type":"box","text":"Related Party","page_number":30,"box":{"x":529,"y":722,"width":72,"height":8}},{"id":"ccfb377e-439e-4ba5-af5f-6fbcaf7732b1","block_type":"box","text":"* Unlisted","page_number":30,"box":{"x":521,"y":736,"width":51,"height":6}},{"id":"08898182-eaa5-4599-9886-c14ec1de2705","block_type":"box","text":"+","page_number":30,"box":{"x":521,"y":751,"width":4,"height":2}},{"id":"2133d3ae-dad7-4713-a3ec-96c7959ce4f9","block_type":"box","text":"Value below £1,000","page_number":30,"box":{"x":528,"y":750,"width":105,"height":8}},{"id":"bff57627-55f9-4908-8af5-9a26e0fb7578","block_type":"box","text":"^","page_number":30,"box":{"x":521,"y":764,"width":3,"height":2}},{"id":"96210697-e299-443c-b027-26c80b4d5fe8","block_type":"box","text":"Including investment liabilities","page_number":30,"box":{"x":529,"y":764,"width":157,"height":8}},{"id":"5e284a6c-4675-44ec-9b19-efd7e56c33dd","block_type":"box","text":"All investments, except collective investment schemes and forward currency","page_number":30,"box":{"x":521,"y":778,"width":421,"height":8}},{"id":"b40a9966-729e-4617-80cd-2ae955ee27b2","block_type":"box","text":"contracts, are listed on recognised stock exchanges and are “approved","page_number":30,"box":{"x":521,"y":789,"width":420,"height":8}},{"id":"0218bee7-eec0-4572-9264-5dc7121e1385","block_type":"box","text":"securities” within the meaning of the FCA rules unless otherwise stated.","page_number":30,"box":{"x":521,"y":800,"width":381,"height":8}},{"id":"a603f7c1-8e66-47ce-b65c-ccde3826c9c2","block_type":"box","text":"Royal London GMAP Balanced Fund | Royal London Multi-Asset Funds ICVC","page_number":30,"box":{"x":503,"y":33,"width":410,"height":8}},{"id":"443314d8-d37d-4f8d-ba2a-150399e6e058","block_type":"box","text":"30","page_number":30,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"70d6dcc8-7b1b-41f3-bb72-84b1c8df99a7","block_type":"box","text":"Summary of Material Portfolio Changes","page_number":31,"box":{"x":57,"y":94,"width":470,"height":14}},{"id":"215c0d33-d17a-472c-9329-3330570ab350","block_type":"box","text":"For the six month period ended 30","page_number":31,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"fc6e3aa2-b300-4910-b0e4-285067a310e7","block_type":"box","text":"June 2026","page_number":31,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"bfa3eff8-3522-497e-857b-b20ca2dd752f","block_type":"box","text":"Significant Purchases","page_number":31,"box":{"x":57,"y":151,"width":203,"height":11}},{"id":"7ccac783-bc0e-4539-861e-07e99f27f52d","block_type":"box","text":"Cost","page_number":31,"box":{"x":447,"y":177,"width":26,"height":6}},{"id":"0c98af9e-8b6b-4fbe-89e8-d4366c389aea","block_type":"box","text":"£’000","page_number":31,"box":{"x":443,"y":186,"width":30,"height":6}},{"id":"3f7e9322-4b13-4d38-be50-6ce67b9a6240","block_type":"box","text":"Invesco Physical Gold ETC","page_number":31,"box":{"x":58,"y":205,"width":144,"height":7}},{"id":"cd775398-4073-44af-b90b-080790f592d6","block_type":"box","text":"21,626","page_number":31,"box":{"x":438,"y":205,"width":35,"height":7}},{"id":"13a298a3-b0e9-4d77-b36f-4724ca150031","block_type":"box","text":"Royal London International Government Bond Fund R Acc","page_number":31,"box":{"x":58,"y":222,"width":309,"height":8}},{"id":"2751469e-2c58-43b1-8c9d-c0e86ceb763c","block_type":"box","text":"21,374","page_number":31,"box":{"x":438,"y":222,"width":35,"height":7}},{"id":"0371fb4f-a23c-433e-a0cd-3ccf8f9a6dc3","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":31,"box":{"x":58,"y":240,"width":214,"height":7}},{"id":"5aad4643-f0c7-4b94-8975-db18c3a27ec9","block_type":"box","text":"14,358","page_number":31,"box":{"x":438,"y":240,"width":35,"height":7}},{"id":"d88a823d-b9c3-4816-a59f-d79278517038","block_type":"box","text":"iShares Physical Gold ETC","page_number":31,"box":{"x":57,"y":257,"width":144,"height":8}},{"id":"82543eb7-9501-4edf-bd7b-cff413c4962f","block_type":"box","text":"10,836","page_number":31,"box":{"x":438,"y":257,"width":35,"height":7}},{"id":"7c655408-e76f-4a4c-8e3e-1fd0c65a6862","block_type":"box","text":"Wisdomtree Enhanced C ETF","page_number":31,"box":{"x":57,"y":275,"width":159,"height":6}},{"id":"2809ef85-8cb6-4a36-b0eb-c22a679fb6c1","block_type":"box","text":"10,786","page_number":31,"box":{"x":438,"y":275,"width":35,"height":7}},{"id":"0f134c36-19c5-4870-b305-d3e2590200a5","block_type":"box","text":"Royal London Global Senior ABS Fund R Acc","page_number":31,"box":{"x":58,"y":292,"width":242,"height":8}},{"id":"ab1f5317-158a-49ed-8d6c-05b813f68d1d","block_type":"box","text":"9,204","page_number":31,"box":{"x":443,"y":292,"width":30,"height":7}},{"id":"2a0cf563-a590-4612-b2d3-80132aa857eb","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":31,"box":{"x":58,"y":310,"width":295,"height":7}},{"id":"e7dce234-4bf8-427c-aac5-5385b24483c8","block_type":"box","text":"8,246","page_number":31,"box":{"x":443,"y":310,"width":30,"height":7}},{"id":"34e7ab67-f05e-4d8d-a8e2-b3f9e5dfe175","block_type":"box","text":"Royal London UK Government Bond Fund R Acc","page_number":31,"box":{"x":58,"y":327,"width":259,"height":8}},{"id":"b2bc1976-9fd1-43c8-871b-79774e8870cd","block_type":"box","text":"8,159","page_number":31,"box":{"x":445,"y":327,"width":28,"height":7}},{"id":"52c803a4-aa2b-4e77-884e-6cbbb248c10c","block_type":"box","text":"Royal London Investment Grade Short Dated Credit Fund R Acc","page_number":31,"box":{"x":58,"y":345,"width":340,"height":7}},{"id":"78672093-bac1-4332-a6fc-fea104122993","block_type":"box","text":"5,175","page_number":31,"box":{"x":446,"y":345,"width":27,"height":7}},{"id":"fb9d2163-8c41-4749-b2a8-71467e79159b","block_type":"box","text":"Royal London Emerging Markets Corporate Bond Fund R Acc","page_number":31,"box":{"x":58,"y":362,"width":327,"height":8}},{"id":"966b8a0a-a598-4a17-83e3-c0b9cc9d5a70","block_type":"box","text":"4,755","page_number":31,"box":{"x":444,"y":362,"width":29,"height":7}},{"id":"d5eac04f-b4c9-48ec-be0b-ef6d3b0aecb4","block_type":"box","text":"Subtotal","page_number":31,"box":{"x":57,"y":380,"width":48,"height":6}},{"id":"4a8ed602-8fe6-4cc7-8c23-9ba2f65559e5","block_type":"box","text":"114,519","page_number":31,"box":{"x":432,"y":380,"width":41,"height":7}},{"id":"84c3ffd4-8058-4b4f-b64a-916d7f782af0","block_type":"box","text":"Total cost of purchases, including the above, for the period","page_number":31,"box":{"x":57,"y":397,"width":339,"height":8}},{"id":"da1984a2-fc1e-4334-a30c-4e4ec33037f8","block_type":"box","text":"144,244","page_number":31,"box":{"x":430,"y":397,"width":43,"height":8}},{"id":"d33aafb7-3bfd-4d10-ac57-36a0a8d82311","block_type":"box","text":"Significant Sales","page_number":31,"box":{"x":522,"y":151,"width":156,"height":11}},{"id":"2179fcc0-7def-4111-a61b-4812684e1fc6","block_type":"box","text":"Proceeds","page_number":31,"box":{"x":884,"y":177,"width":53,"height":6}},{"id":"0d7cc95b-b289-4f6f-8f3a-e94e52b5c4ab","block_type":"box","text":"£’000","page_number":31,"box":{"x":907,"y":186,"width":30,"height":6}},{"id":"545b2216-5c59-48c2-bec8-85cc65de40a6","block_type":"box","text":"Invesco Physical Gold ETC","page_number":31,"box":{"x":522,"y":205,"width":144,"height":7}},{"id":"9d8ee9ba-35e1-4e4c-b8d7-7809cffa1948","block_type":"box","text":"29,816","page_number":31,"box":{"x":902,"y":205,"width":35,"height":7}},{"id":"e51c56d2-0bd1-4132-a860-46367b2c8559","block_type":"box","text":"Royal London Global High Yield Bond Fund R Acc","page_number":31,"box":{"x":522,"y":222,"width":266,"height":8}},{"id":"d209b5b5-58c8-4520-a9d6-2fb00f723922","block_type":"box","text":"20,769","page_number":31,"box":{"x":901,"y":222,"width":36,"height":7}},{"id":"e85a6ad2-e2e8-4ad1-abdb-5745d0923a7c","block_type":"box","text":"iShares Physical Gold ETC","page_number":31,"box":{"x":522,"y":240,"width":144,"height":7}},{"id":"5a3cb7a2-a099-45ce-a31a-5bfb74b1bee0","block_type":"box","text":"19,398","page_number":31,"box":{"x":902,"y":240,"width":35,"height":7}},{"id":"988d2e48-e885-43d1-82bf-89889ce6b2f0","block_type":"box","text":"iShares Bloomberg Roll Select Commodity Swap UCITS ETF","page_number":31,"box":{"x":522,"y":257,"width":325,"height":8}},{"id":"44d99329-3c7d-4f2c-ae79-bc35e28410cc","block_type":"box","text":"13,987","page_number":31,"box":{"x":902,"y":257,"width":35,"height":7}},{"id":"eb1ec8ab-2dda-4edb-9a38-1f3f556c5100","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":31,"box":{"x":522,"y":275,"width":250,"height":7}},{"id":"889342b2-2da5-40d9-8098-d0b687db5fce","block_type":"box","text":"9,731","page_number":31,"box":{"x":909,"y":275,"width":26,"height":7}},{"id":"a3c46a77-33c8-44fb-b256-a16fa3c596a5","block_type":"box","text":"Royal London Investment Grade Short Dated Credit Fund R Acc","page_number":31,"box":{"x":522,"y":292,"width":340,"height":8}},{"id":"b906a839-eeeb-45df-b5ba-e2b540ca19e3","block_type":"box","text":"8,637","page_number":31,"box":{"x":908,"y":292,"width":29,"height":7}},{"id":"8e2ada9d-5197-49e9-ad06-bd4d06b79e54","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":31,"box":{"x":522,"y":310,"width":295,"height":7}},{"id":"bdbee6d6-56f3-4027-a3e6-7491bc11a5eb","block_type":"box","text":"6,675","page_number":31,"box":{"x":908,"y":310,"width":29,"height":7}},{"id":"a87cb750-a545-4466-ae1a-6ccf9d0f3730","block_type":"box","text":"Invesco Bloomberg Commodity Carbon Tilted UCITS ETF","page_number":31,"box":{"x":522,"y":327,"width":307,"height":8}},{"id":"42c48fab-1fed-4bf9-b777-689b5647ac56","block_type":"box","text":"2,381","page_number":31,"box":{"x":908,"y":327,"width":27,"height":7}},{"id":"7d947fb4-6d60-4d21-a604-004da5173650","block_type":"box","text":"Royal London Global Equity Diversified Fund R Acc","page_number":31,"box":{"x":522,"y":345,"width":274,"height":7}},{"id":"2440e468-5234-43b3-b1c7-0437e1c42be2","block_type":"box","text":"2,311","page_number":31,"box":{"x":909,"y":345,"width":26,"height":7}},{"id":"29d8c0e9-a91b-4705-a6d8-9ff78d9d9937","block_type":"box","text":"Royal London Global Equity Enhanced Fund R Acc","page_number":31,"box":{"x":522,"y":362,"width":271,"height":8}},{"id":"a9031602-f6ba-4114-9fcf-1136556a4450","block_type":"box","text":"1,891","page_number":31,"box":{"x":909,"y":362,"width":26,"height":7}},{"id":"50bd151f-6cde-44ea-af12-9c0a92cdd45c","block_type":"box","text":"Subtotal","page_number":31,"box":{"x":521,"y":380,"width":48,"height":6}},{"id":"38700597-8666-4484-9598-6a455c5a44fa","block_type":"box","text":"115,596","page_number":31,"box":{"x":896,"y":380,"width":41,"height":7}},{"id":"b2d5ec32-3697-446e-a394-be9456ccc1b2","block_type":"box","text":"Total proceeds from sales, including the above, for the period","page_number":31,"box":{"x":521,"y":397,"width":347,"height":8}},{"id":"86e2cbd7-0f77-4f85-aa58-0ef12235bc30","block_type":"box","text":"121,856","page_number":31,"box":{"x":896,"y":397,"width":41,"height":8}},{"id":"59370c50-20e9-4418-8239-1dc25c119153","block_type":"box","text":"Royal London GMAP Balanced Fund | Royal London Multi-Asset Funds ICVC","page_number":31,"box":{"x":503,"y":33,"width":410,"height":8}},{"id":"bc8e039e-3c70-45c7-8e99-629a76e67ba7","block_type":"box","text":"31","page_number":31,"box":{"x":930,"y":33,"width":10,"height":6}},{"id":"fe03b1e1-35fd-44f7-8ea0-c2d11bd40725","block_type":"box","text":"Financial Statements","page_number":32,"box":{"x":58,"y":94,"width":253,"height":11}},{"id":"38f52099-cca5-4d19-9413-b9f9d61ce99e","block_type":"box","text":"Statement of Total Return","page_number":32,"box":{"x":57,"y":151,"width":241,"height":9}},{"id":"bc52d8e5-7f63-4441-8562-0cc1e94584df","block_type":"box","text":"For the six month period ended 30","page_number":32,"box":{"x":58,"y":169,"width":231,"height":10}},{"id":"5c9f5162-0eac-47e2-9d08-2e28c9ad4026","block_type":"box","text":"June 2026","page_number":32,"box":{"x":294,"y":169,"width":70,"height":8}},{"id":"cf0498e8-c1fc-4643-b7f6-c2463b8e05db","block_type":"box","text":"30 Jun 2026","page_number":32,"box":{"x":264,"y":198,"width":66,"height":6}},{"id":"0ef42290-9238-49df-b0a7-dc2d4be53386","block_type":"box","text":"30 Jun 2025","page_number":32,"box":{"x":407,"y":198,"width":66,"height":6}},{"id":"989d7a00-b2e1-462a-8937-133c26aa490e","block_type":"box","text":"£’000","page_number":32,"box":{"x":229,"y":207,"width":29,"height":6}},{"id":"d5d8a40e-d905-4ab2-a480-e7567e3097a3","block_type":"box","text":"£’000","page_number":32,"box":{"x":300,"y":207,"width":30,"height":6}},{"id":"dd197340-cbd7-4623-89b4-91d092175576","block_type":"box","text":"£’000","page_number":32,"box":{"x":371,"y":207,"width":30,"height":6}},{"id":"2c536dc8-b504-430a-a0cb-caf09a32809f","block_type":"box","text":"£’000","page_number":32,"box":{"x":443,"y":207,"width":30,"height":6}},{"id":"db4099d3-670e-48bf-ae3e-2bd5128fb709","block_type":"box","text":"Income","page_number":32,"box":{"x":58,"y":226,"width":38,"height":6}},{"id":"fe77773f-602d-4a54-aec9-9147a5654c62","block_type":"box","text":"Net capital gains","page_number":32,"box":{"x":69,"y":243,"width":88,"height":8}},{"id":"c28abefe-07cd-4929-876a-4dc5141b68db","block_type":"box","text":"36,280","page_number":32,"box":{"x":294,"y":243,"width":36,"height":8}},{"id":"d6e96aa5-4f7b-432e-bd54-492ff5207d08","block_type":"box","text":"1,856","page_number":32,"box":{"x":445,"y":243,"width":28,"height":8}},{"id":"253c3445-74ad-4f40-9fe3-85da9164a45d","block_type":"box","text":"Revenue","page_number":32,"box":{"x":69,"y":261,"width":47,"height":6}},{"id":"aa6020d6-d61c-4d7c-902f-3895544c2177","block_type":"box","text":"9,172","page_number":32,"box":{"x":231,"y":261,"width":27,"height":7}},{"id":"289fc0e9-11d0-4eb4-960a-a946f4b72108","block_type":"box","text":"8,761","page_number":32,"box":{"x":373,"y":261,"width":27,"height":7}},{"id":"5028b6f0-7adf-45ff-867d-58d94357ce00","block_type":"box","text":"Expenses","page_number":32,"box":{"x":58,"y":278,"width":51,"height":8}},{"id":"f89a960b-55c2-470b-8770-18746c474e5c","block_type":"box","text":"(1,011)","page_number":32,"box":{"x":229,"y":278,"width":34,"height":8}},{"id":"7d5c04f3-8764-4e0a-a851-93a2a381593f","block_type":"box","text":"(926)","page_number":32,"box":{"x":379,"y":278,"width":26,"height":8}},{"id":"e3542362-0432-41f4-adfa-0d3e6ca24570","block_type":"box","text":"Interest payable and","page_number":32,"box":{"x":58,"y":296,"width":107,"height":8}},{"id":"156e5dcf-9453-4b66-900e-f5e47889928b","block_type":"box","text":"similar expenses","page_number":32,"box":{"x":57,"y":305,"width":89,"height":8}},{"id":"759fa046-800e-4b8b-bd75-73b6e8db2b6d","block_type":"box","text":"(1)","page_number":32,"box":{"x":250,"y":296,"width":13,"height":8}},{"id":"0d01906f-16d2-4aa7-a5ee-3943ca444023","block_type":"box","text":"–","page_number":32,"box":{"x":395,"y":299,"width":7,"height":1}},{"id":"7cbf83a6-eb86-436b-97a6-0dee6221cecd","block_type":"box","text":"Net revenue before","page_number":32,"box":{"x":58,"y":323,"width":101,"height":6}},{"id":"c97abdf4-1eff-4edb-9868-d1e5505dc00a","block_type":"box","text":"taxation","page_number":32,"box":{"x":57,"y":332,"width":42,"height":6}},{"id":"bc7d1cc9-b73f-403e-b7ef-95c2d913d370","block_type":"box","text":"8,160","page_number":32,"box":{"x":230,"y":323,"width":28,"height":7}},{"id":"8bdb7ce5-86de-41aa-bbd3-f549cb795150","block_type":"box","text":"7,835","page_number":32,"box":{"x":373,"y":323,"width":28,"height":7}},{"id":"e2deb270-2b77-42d7-b67c-b99b148d4f19","block_type":"box","text":"Taxation","page_number":32,"box":{"x":57,"y":350,"width":44,"height":6}},{"id":"2522637c-f40b-4f50-b6fb-835349a3eaec","block_type":"box","text":"(1,454)","page_number":32,"box":{"x":227,"y":350,"width":36,"height":8}},{"id":"e3a98b71-c53d-434b-b844-fa24eb3eaae3","block_type":"box","text":"(1,378)","page_number":32,"box":{"x":370,"y":350,"width":35,"height":8}},{"id":"bed2c4ed-0ed0-4ad3-8f50-f827f3f44f7f","block_type":"box","text":"Net revenue after","page_number":32,"box":{"x":58,"y":367,"width":92,"height":6}},{"id":"d73e25b9-c67a-4f7d-987e-a4cc5b5e0329","block_type":"box","text":"taxation","page_number":32,"box":{"x":57,"y":377,"width":42,"height":6}},{"id":"fcc4f1d3-7b2a-451d-823e-728a51b27f22","block_type":"box","text":"6,706","page_number":32,"box":{"x":301,"y":367,"width":29,"height":8}},{"id":"5769a0da-e89e-4517-8e73-e37728d9f3e5","block_type":"box","text":"6,457","page_number":32,"box":{"x":444,"y":367,"width":29,"height":8}},{"id":"bf7a52cf-747c-4100-bb03-ca92f5230290","block_type":"box","text":"Total return before","page_number":32,"box":{"x":57,"y":394,"width":98,"height":6}},{"id":"b62cc080-1510-432f-b781-e3c9d0b715e7","block_type":"box","text":"distributions","page_number":32,"box":{"x":57,"y":404,"width":64,"height":6}},{"id":"096b49ea-f795-44fa-85bb-2a628bca587f","block_type":"box","text":"42,986","page_number":32,"box":{"x":294,"y":394,"width":36,"height":8}},{"id":"2cf6afed-b3d2-45a0-97e4-7cfd8b16915b","block_type":"box","text":"8,313","page_number":32,"box":{"x":444,"y":394,"width":29,"height":8}},{"id":"0544f401-fff4-48a9-90eb-bcf0eb76b923","block_type":"box","text":"Distributions","page_number":32,"box":{"x":58,"y":421,"width":65,"height":6}},{"id":"578ecf86-24f3-4a5d-ae4c-acc421b9b37e","block_type":"box","text":"(6,731)","page_number":32,"box":{"x":299,"y":421,"width":35,"height":8}},{"id":"8bcd5433-01f9-46c3-9b88-cdcbf84dbd12","block_type":"box","text":"(6,245)","page_number":32,"box":{"x":440,"y":421,"width":37,"height":8}},{"id":"20275183-00f6-4fc9-b7b5-a31da69bf47b","block_type":"box","text":"Change in net assets","page_number":32,"box":{"x":57,"y":439,"width":120,"height":8}},{"id":"a062c179-86b4-47a3-a382-4399de20aa22","block_type":"box","text":"attributable to","page_number":32,"box":{"x":57,"y":448,"width":81,"height":6}},{"id":"02df9ef8-a9ad-48b3-ad34-d69fa452d03a","block_type":"box","text":"shareholders from","page_number":32,"box":{"x":57,"y":458,"width":106,"height":6}},{"id":"82c0002c-f99d-4f51-8993-65fd51b23034","block_type":"box","text":"investment activities","page_number":32,"box":{"x":57,"y":467,"width":119,"height":6}},{"id":"970dc04d-1692-4e2f-b635-31167e006338","block_type":"box","text":"36,255","page_number":32,"box":{"x":294,"y":439,"width":36,"height":7}},{"id":"1137d85a-ece4-429a-b5ed-68c9527338f7","block_type":"box","text":"2,068","page_number":32,"box":{"x":443,"y":439,"width":30,"height":7}},{"id":"61332759-0b29-4b81-ab00-55c01448f5e1","block_type":"box","text":"Statement of Change in Net Assets","page_number":32,"box":{"x":57,"y":513,"width":332,"height":11}},{"id":"c5f69e31-5c2a-4db4-a179-d69f52202f43","block_type":"box","text":"Attributable to Shareholders","page_number":32,"box":{"x":57,"y":527,"width":265,"height":9}},{"id":"d05e8bcf-8598-4364-b730-f6bf2289c769","block_type":"box","text":"For the six month period ended 30","page_number":32,"box":{"x":58,"y":545,"width":231,"height":10}},{"id":"a2a8794b-3305-4959-8936-4026d02edfe0","block_type":"box","text":"June 2026","page_number":32,"box":{"x":294,"y":545,"width":70,"height":8}},{"id":"0590b0cd-913e-4247-a01a-5a413b0f6368","block_type":"box","text":"30 Jun 2026","page_number":32,"box":{"x":264,"y":574,"width":66,"height":6}},{"id":"43aa3172-258d-4067-b1c9-445eb45cb1a6","block_type":"box","text":"30 Jun 2025","page_number":32,"box":{"x":407,"y":574,"width":66,"height":6}},{"id":"4a7f3352-1f1d-4863-91fb-ee090a1df8ea","block_type":"box","text":"£’000","page_number":32,"box":{"x":229,"y":583,"width":29,"height":6}},{"id":"c59702c3-1e3d-49ef-a838-c45d0bd7e8de","block_type":"box","text":"£’000","page_number":32,"box":{"x":300,"y":583,"width":30,"height":6}},{"id":"7b8856a2-6045-4299-95d7-33238ee80fde","block_type":"box","text":"£’000","page_number":32,"box":{"x":371,"y":583,"width":30,"height":6}},{"id":"00440288-b634-4529-a9bb-3dcc0aabab8f","block_type":"box","text":"£’000","page_number":32,"box":{"x":443,"y":583,"width":30,"height":6}},{"id":"6a9130af-7560-4d3e-b880-c42380292c20","block_type":"box","text":"Opening net assets","page_number":32,"box":{"x":57,"y":602,"width":111,"height":7}},{"id":"75c2dfc8-1e78-4e43-ad6c-a5ec35d433c4","block_type":"box","text":"attributable to","page_number":32,"box":{"x":57,"y":611,"width":81,"height":6}},{"id":"d0483da1-486c-4094-bac7-ef6dee6f3b42","block_type":"box","text":"shareholders","page_number":32,"box":{"x":57,"y":621,"width":76,"height":6}},{"id":"b97f6537-e9e3-46ea-bea8-90fef2892089","block_type":"box","text":"731,535","page_number":32,"box":{"x":288,"y":602,"width":42,"height":7}},{"id":"fe8786e7-148d-42ae-a6e5-8228f5b88371","block_type":"box","text":"631,485","page_number":32,"box":{"x":430,"y":602,"width":43,"height":7}},{"id":"7e2d08e6-dfdb-4070-97b9-05503a474f33","block_type":"box","text":"Issue of shares","page_number":32,"box":{"x":58,"y":638,"width":80,"height":6}},{"id":"6f38a07c-6a0f-4134-80c2-b3a5a1e570f2","block_type":"box","text":"78,539","page_number":32,"box":{"x":222,"y":638,"width":37,"height":7}},{"id":"d8bcd2cc-06fd-404a-9a24-77d2a180f38b","block_type":"box","text":"65,773","page_number":32,"box":{"x":366,"y":638,"width":35,"height":7}},{"id":"f3e9ce57-ec3f-4521-9b78-835e5feeae37","block_type":"box","text":"Cancellation of shares","page_number":32,"box":{"x":57,"y":656,"width":119,"height":6}},{"id":"3da03708-e938-408c-b318-a773436250c4","block_type":"box","text":"(50,095)","page_number":32,"box":{"x":219,"y":656,"width":44,"height":7}},{"id":"e70f8a1d-2025-4832-bb40-6507965d297e","block_type":"box","text":"(36,253)","page_number":32,"box":{"x":362,"y":656,"width":43,"height":7}},{"id":"b2306924-be11-4c01-8df9-8b24eab2295a","block_type":"box","text":"28,444","page_number":32,"box":{"x":293,"y":673,"width":37,"height":7}},{"id":"f388d370-4554-48f7-a53b-07db95205e99","block_type":"box","text":"29,520","page_number":32,"box":{"x":437,"y":673,"width":36,"height":7}},{"id":"aef943a8-2236-4048-afea-4ad297777c78","block_type":"box","text":"Dilution adjustment","page_number":32,"box":{"x":58,"y":691,"width":101,"height":7}},{"id":"c8b1e7e8-0ad1-49fe-a6d5-575f62a2447f","block_type":"box","text":"166","page_number":32,"box":{"x":312,"y":691,"width":18,"height":6}},{"id":"aeab4200-86db-422d-a283-09e002f6c9c1","block_type":"box","text":"90","page_number":32,"box":{"x":460,"y":691,"width":13,"height":6}},{"id":"cb753f53-ae80-4d89-ab8a-406defce166a","block_type":"box","text":"Stamp duty reserve tax","page_number":32,"box":{"x":57,"y":708,"width":124,"height":8}},{"id":"d1ee419e-b290-43ec-8a31-c106badce502","block_type":"box","text":"–","page_number":32,"box":{"x":324,"y":712,"width":6,"height":0}},{"id":"3294c716-cedb-4b66-9219-06e8769250fe","block_type":"box","text":"(4)","page_number":32,"box":{"x":464,"y":708,"width":13,"height":8}},{"id":"08a64f6b-9c79-40a6-b1a8-0fcc85c09251","block_type":"box","text":"Change in net","page_number":32,"box":{"x":57,"y":726,"width":74,"height":7}},{"id":"e2069863-8cb7-4a8c-b0e2-841828b0a293","block_type":"box","text":"assets attributable","page_number":32,"box":{"x":57,"y":735,"width":98,"height":6}},{"id":"eb906df9-ca0e-4982-9a10-887958dc4b1c","block_type":"box","text":"to shareholders from","page_number":32,"box":{"x":57,"y":745,"width":110,"height":6}},{"id":"9b606e73-44c4-486c-94c8-e82213bef57b","block_type":"box","text":"investment activities","page_number":32,"box":{"x":57,"y":754,"width":108,"height":6}},{"id":"c0862c04-cece-4503-a8b8-0ba294c32402","block_type":"box","text":"36,255","page_number":32,"box":{"x":294,"y":726,"width":36,"height":7}},{"id":"73c14431-d67e-4cb7-86b2-4d691e05e52d","block_type":"box","text":"2,068","page_number":32,"box":{"x":443,"y":726,"width":30,"height":7}},{"id":"76e55253-7356-416b-9b80-61ea72f1bfd5","block_type":"box","text":"Retained distributions on","page_number":32,"box":{"x":58,"y":772,"width":131,"height":6}},{"id":"08b7be4d-cac7-4928-8cb4-94da2286c4c9","block_type":"box","text":"accumulation shares","page_number":32,"box":{"x":57,"y":781,"width":110,"height":6}},{"id":"07b71a34-a2e8-48d5-9ca7-e8ab6ddac6e7","block_type":"box","text":"6,861","page_number":32,"box":{"x":301,"y":772,"width":27,"height":7}},{"id":"c73ed196-a76c-4595-9b48-e71e075f6380","block_type":"box","text":"6,405","page_number":32,"box":{"x":443,"y":772,"width":30,"height":7}},{"id":"7fb81395-4140-4860-85c1-885500fb72a5","block_type":"box","text":"Closing net assets","page_number":32,"box":{"x":57,"y":799,"width":106,"height":7}},{"id":"b2b4f5dd-7b12-4911-a541-310e6ded3032","block_type":"box","text":"attributable to","page_number":32,"box":{"x":57,"y":808,"width":81,"height":6}},{"id":"0589a96f-81ba-4bb5-ae54-d5ed5cd8a05e","block_type":"box","text":"shareholders","page_number":32,"box":{"x":57,"y":818,"width":76,"height":6}},{"id":"e0d7a268-7680-4505-910a-7eb329d061d9","block_type":"box","text":"803,261","page_number":32,"box":{"x":287,"y":799,"width":42,"height":7}},{"id":"547de95d-2c4d-48f7-b500-cec3ac8acaf7","block_type":"box","text":"669,564","page_number":32,"box":{"x":430,"y":799,"width":43,"height":7}},{"id":"1b94af89-4c30-459b-af8f-ecf8d6d92be2","block_type":"box","text":"Balance Sheet","page_number":32,"box":{"x":522,"y":151,"width":134,"height":9}},{"id":"4b2908e9-e4ac-4a81-a4da-32ffa3f1060b","block_type":"box","text":"As at 30","page_number":32,"box":{"x":521,"y":169,"width":55,"height":8}},{"id":"c4154742-fc60-4e21-937a-aa8f82c36cf0","block_type":"box","text":"June 2026","page_number":32,"box":{"x":582,"y":169,"width":70,"height":8}},{"id":"24e99d36-bb93-40ae-b374-a4a25c5fd4c1","block_type":"box","text":"30 Jun 2026","page_number":32,"box":{"x":728,"y":198,"width":66,"height":6}},{"id":"05ed251b-5a12-4a64-86d0-09b463e48c47","block_type":"box","text":"31 Dec 2025","page_number":32,"box":{"x":871,"y":198,"width":66,"height":6}},{"id":"ad43016c-9123-4c10-8db4-f529a0f36c17","block_type":"box","text":"£’000","page_number":32,"box":{"x":764,"y":207,"width":30,"height":6}},{"id":"21223802-d62e-4f4b-8233-a64c9752c55d","block_type":"box","text":"£’000","page_number":32,"box":{"x":907,"y":207,"width":30,"height":6}},{"id":"ed944129-2a11-44d3-8f02-6663cd20984d","block_type":"box","text":"Assets","page_number":32,"box":{"x":521,"y":226,"width":39,"height":6}},{"id":"26c92e46-1bc6-40a3-b85a-e86678c4b66c","block_type":"box","text":"Investments","page_number":32,"box":{"x":522,"y":243,"width":63,"height":6}},{"id":"b5bed4ae-9843-4428-85cf-45ea294f8adc","block_type":"box","text":"793,175","page_number":32,"box":{"x":754,"y":243,"width":40,"height":7}},{"id":"1e57dad5-2a34-4080-9b8b-33a3f407b733","block_type":"box","text":"726,025","page_number":32,"box":{"x":895,"y":243,"width":42,"height":7}},{"id":"31596334-a18c-4b38-b3dc-374e952f60e4","block_type":"box","text":"Amounts receivable","page_number":32,"box":{"x":521,"y":261,"width":106,"height":6}},{"id":"534e4c05-23c2-4d6d-aa6d-b825635c6a33","block_type":"box","text":"1,549","page_number":32,"box":{"x":766,"y":261,"width":28,"height":7}},{"id":"503ed5b5-0a2a-4b30-bdb9-4489d58bfa3e","block_type":"box","text":"1,408","page_number":32,"box":{"x":909,"y":261,"width":28,"height":7}},{"id":"f411e94a-2dc1-47df-869d-038c8dacaa25","block_type":"box","text":"Cash and cash","page_number":32,"box":{"x":522,"y":278,"width":78,"height":6}},{"id":"fbc71bdb-71a7-48fb-8e22-6084cc49e201","block_type":"box","text":"equivalents","page_number":32,"box":{"x":521,"y":288,"width":61,"height":7}},{"id":"be1f0209-ad11-4249-929a-dd2b66c69a45","block_type":"box","text":"17,206","page_number":32,"box":{"x":760,"y":278,"width":34,"height":7}},{"id":"22a3121a-859c-45bd-bac7-b8b2aa91ea13","block_type":"box","text":"15,185","page_number":32,"box":{"x":904,"y":278,"width":33,"height":7}},{"id":"aa52e496-a5e6-4ebb-95bc-adb181468d6b","block_type":"box","text":"Total assets","page_number":32,"box":{"x":521,"y":305,"width":64,"height":6}},{"id":"f1623bd8-b65e-433e-a15a-730067602174","block_type":"box","text":"811,930","page_number":32,"box":{"x":753,"y":305,"width":41,"height":7}},{"id":"0fe23104-377c-4366-a82f-d1c7dd67d19b","block_type":"box","text":"742,618","page_number":32,"box":{"x":896,"y":305,"width":41,"height":7}},{"id":"c77344ee-52af-4a31-a801-32a245b51c1d","block_type":"box","text":"Liabilities","page_number":32,"box":{"x":522,"y":323,"width":55,"height":6}},{"id":"c89ce999-71ef-4802-a6e5-723747a1e61f","block_type":"box","text":"Investments","page_number":32,"box":{"x":522,"y":340,"width":63,"height":6}},{"id":"57e0b128-37ff-49f9-9244-893ada99421f","block_type":"box","text":"947","page_number":32,"box":{"x":775,"y":340,"width":19,"height":6}},{"id":"ee7d9a97-939f-4528-aadd-0514961e4d34","block_type":"box","text":"1,083","page_number":32,"box":{"x":909,"y":340,"width":28,"height":7}},{"id":"fdec014f-8d14-46b4-a252-cb4e6a001dd4","block_type":"box","text":"Bank overdrafts","page_number":32,"box":{"x":522,"y":358,"width":83,"height":6}},{"id":"c10fd71b-cbf5-40c2-8023-9ccda32b8e06","block_type":"box","text":"5,583","page_number":32,"box":{"x":765,"y":358,"width":29,"height":7}},{"id":"98192e96-3e14-47c5-856c-8b8d9c73a295","block_type":"box","text":"4,168","page_number":32,"box":{"x":909,"y":358,"width":28,"height":7}},{"id":"3e2a19d7-e1eb-4695-a57f-8348c1d7fc9c","block_type":"box","text":"Distribution payable","page_number":32,"box":{"x":522,"y":375,"width":105,"height":8}},{"id":"244606e9-b0c5-4b43-81de-533efec1974c","block_type":"box","text":"62","page_number":32,"box":{"x":782,"y":375,"width":12,"height":6}},{"id":"435ebd97-b8ee-4718-9d28-acef85f9d714","block_type":"box","text":"121","page_number":32,"box":{"x":920,"y":375,"width":15,"height":6}},{"id":"ad85b061-3384-4a75-9f11-5f64952c5694","block_type":"box","text":"Other amounts payable","page_number":32,"box":{"x":521,"y":393,"width":124,"height":7}},{"id":"a47c291e-fe8e-4eab-9b67-8c9bd1949bad","block_type":"box","text":"2,077","page_number":32,"box":{"x":765,"y":393,"width":29,"height":7}},{"id":"1e825a90-5712-4ce4-a255-ee7de703b489","block_type":"box","text":"5,711","page_number":32,"box":{"x":910,"y":393,"width":25,"height":7}},{"id":"89d53e70-4b97-43c5-906b-38686cb6e6dc","block_type":"box","text":"Total liabilities","page_number":32,"box":{"x":521,"y":410,"width":75,"height":6}},{"id":"8b875e78-dfdf-4376-852c-597ae37ec1ef","block_type":"box","text":"8,669","page_number":32,"box":{"x":765,"y":410,"width":29,"height":7}},{"id":"4d64e5fc-d049-4298-8f47-7d38fd8080f7","block_type":"box","text":"11,083","page_number":32,"box":{"x":903,"y":410,"width":34,"height":7}},{"id":"2307356a-00f8-4acb-b11c-8e77a46216de","block_type":"box","text":"Net assets","page_number":32,"box":{"x":522,"y":428,"width":59,"height":6}},{"id":"fb3a8d70-d909-4cf4-8418-2f7e8d92bb98","block_type":"box","text":"attributable to","page_number":32,"box":{"x":521,"y":437,"width":82,"height":6}},{"id":"cea62232-5f02-490b-89c6-ac6dff82320b","block_type":"box","text":"shareholders","page_number":32,"box":{"x":521,"y":447,"width":76,"height":6}},{"id":"cad707a4-c32c-411c-b187-2c0a65f89fb6","block_type":"box","text":"803,261","page_number":32,"box":{"x":751,"y":428,"width":42,"height":7}},{"id":"41cfa0e2-15d7-4c65-982e-01b69238071b","block_type":"box","text":"731,535","page_number":32,"box":{"x":895,"y":428,"width":42,"height":7}},{"id":"51fa39c7-615a-4b24-80f9-b8661dbb0911","block_type":"box","text":"Royal London GMAP Balanced Fund | Royal London Multi-Asset Funds ICVC","page_number":32,"box":{"x":503,"y":33,"width":410,"height":8}},{"id":"06b7ce29-50e0-4d8b-8ab0-f2c5c874159c","block_type":"box","text":"32","page_number":32,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"a80f6c41-44ca-4233-b2cc-f233861f0455","block_type":"box","text":"Notes to the Financial Statements","page_number":33,"box":{"x":58,"y":94,"width":409,"height":11}},{"id":"551af6cb-aedc-40d9-9cce-6b6325b14799","block_type":"box","text":"For the six month period ended 30","page_number":33,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"1829961d-f526-4fa6-930b-0cd0163d0db1","block_type":"box","text":"June 2026","page_number":33,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"868d4452-121a-418e-a46f-99d260078e31","block_type":"box","text":"1. Accounting policies","page_number":33,"box":{"x":58,"y":151,"width":205,"height":11}},{"id":"2c679084-ccd0-48a7-85fe-c0f2db507df2","block_type":"box","text":"The accounting policies are set out in note 1 on pages","page_number":33,"box":{"x":57,"y":169,"width":404,"height":10}},{"id":"77e104bf-dcd7-4a98-a336-c06c76119174","block_type":"box","text":"5","page_number":33,"box":{"x":470,"y":170,"width":7,"height":7}},{"id":"e5036d2a-8479-407e-9add-5d5fbbf6fab0","block_type":"box","text":"and","page_number":33,"box":{"x":57,"y":184,"width":24,"height":8}},{"id":"877e0b0e-f166-45d3-854d-19bcd4be1c8d","block_type":"box","text":"6","page_number":33,"box":{"x":87,"y":184,"width":7,"height":8}},{"id":"ce4301ad-61d9-4c88-8467-4bf8b47e9be7","block_type":"box","text":".","page_number":33,"box":{"x":96,"y":190,"width":2,"height":1}},{"id":"27d8a1bd-66af-4140-aa90-a3ec583db1bd","block_type":"box","text":"2. Related party transactions","page_number":33,"box":{"x":57,"y":210,"width":272,"height":12}},{"id":"77ce90c7-a715-4949-b73d-05654b697e9c","block_type":"box","text":"The Fund’s Authorised Corporate Director, Royal London","page_number":33,"box":{"x":57,"y":229,"width":420,"height":10}},{"id":"bca47337-269f-459a-923c-2da079927c13","block_type":"box","text":"Unit Trust Managers Limited, is a related party to the Fund","page_number":33,"box":{"x":58,"y":243,"width":419,"height":10}},{"id":"74e03458-0b6d-437f-8fbb-c2c1ecec6e38","block_type":"box","text":"as defined by Financial Reporting Standard 102 ‘Related","page_number":33,"box":{"x":57,"y":257,"width":420,"height":10}},{"id":"db690113-5d2d-4a93-ad06-671bf7e32335","block_type":"box","text":"Party Disclosures’.","page_number":33,"box":{"x":58,"y":272,"width":124,"height":10}},{"id":"e67d9052-40ba-423b-94b1-a0585be0b6ed","block_type":"box","text":"Fund Management fees charged by Royal London Unit Trust","page_number":33,"box":{"x":58,"y":293,"width":420,"height":10}},{"id":"3a47f972-4c7b-4652-92c4-e1fd5d99a3e6","block_type":"box","text":"Managers Limited are disclosed within the expenses figure","page_number":33,"box":{"x":58,"y":307,"width":419,"height":10}},{"id":"a95b6aeb-01a2-4a4e-92d9-a116e44de2a5","block_type":"box","text":"shown on the Statement of Total Return and details of shares","page_number":33,"box":{"x":57,"y":321,"width":421,"height":8}},{"id":"477ac499-e84a-4a42-8468-98e37bd78a59","block_type":"box","text":"created and cancelled by Royal London Unit Trust Managers","page_number":33,"box":{"x":57,"y":336,"width":421,"height":9}},{"id":"796bdf9a-b794-4683-b6b4-4b0b6f780a15","block_type":"box","text":"Limited are shown in the Statement of Change in Net Assets","page_number":33,"box":{"x":58,"y":350,"width":420,"height":10}},{"id":"3b790b7f-9659-422a-b109-f0f0f2ba4d34","block_type":"box","text":"Attributable to Shareholders and the Distribution figure shown","page_number":33,"box":{"x":57,"y":364,"width":420,"height":10}},{"id":"3549631e-d257-4991-80aa-b67373c87228","block_type":"box","text":"on the Statement of Total Return.","page_number":33,"box":{"x":57,"y":378,"width":223,"height":8}},{"id":"388efe8e-b96b-496f-906b-b3fef79b1280","block_type":"box","text":"At the six months period end the balance due from Royal","page_number":33,"box":{"x":57,"y":399,"width":420,"height":10}},{"id":"0513fbaf-38ab-48ec-abef-81f7400db1f7","block_type":"box","text":"London Unit Trust Managers Limited in respect of these","page_number":33,"box":{"x":58,"y":413,"width":419,"height":10}},{"id":"b2caac30-e9e7-4aa8-9787-b464c0d2ae74","block_type":"box","text":"transactions was £427,000 (31/12/25: £917,000).","page_number":33,"box":{"x":57,"y":428,"width":324,"height":10}},{"id":"a5999829-b59d-4777-a20e-5f712089b52e","block_type":"box","text":"Amounts due from Royal London Unit Trust Managers Limited in","page_number":33,"box":{"x":57,"y":449,"width":420,"height":10}},{"id":"a6684ba3-bae8-472f-847e-b60d30170fa6","block_type":"box","text":"respect of periodic charge rebates at the period end amounted","page_number":33,"box":{"x":58,"y":463,"width":419,"height":10}},{"id":"9f49f4e5-d5df-4963-a6db-3103b2e17469","block_type":"box","text":"to £150,000 (31/12/25: £162,000).","page_number":33,"box":{"x":57,"y":477,"width":226,"height":10}},{"id":"37a518f4-ba28-4290-9095-c5ab669bcd2f","block_type":"box","text":"At the six months period end, 30 June 2026, 64.62% (31/12/25:","page_number":33,"box":{"x":57,"y":498,"width":420,"height":10}},{"id":"5a0bbf65-0dca-4fb4-a8d3-ead3cb7343e2","block_type":"box","text":"64.80%) of the shares in issue were held by The Royal London","page_number":33,"box":{"x":57,"y":512,"width":420,"height":10}},{"id":"d69c5d0c-b5b7-4695-88fe-b48c58cf1907","block_type":"box","text":"Mutual Insurance Society Limited. Royal London Unit Trust","page_number":33,"box":{"x":58,"y":527,"width":420,"height":10}},{"id":"61d71d73-dba4-418c-af6f-af284519e90f","block_type":"box","text":"Managers Limited is a wholly owned subsidiary of The Royal","page_number":33,"box":{"x":58,"y":541,"width":419,"height":10}},{"id":"60a28811-4705-4ceb-853f-ed28eb28fab2","block_type":"box","text":"London Mutual Insurance Society Limited.","page_number":33,"box":{"x":58,"y":555,"width":282,"height":10}},{"id":"e76a5925-7b47-47a8-b964-00ef6a1dfc87","block_type":"box","text":"3. Fair value of investments","page_number":33,"box":{"x":522,"y":151,"width":255,"height":9}},{"id":"8094c1d8-9b83-4bca-87e2-c242c9a92389","block_type":"box","text":"The fair values of the Fund’s assets and liabilities are","page_number":33,"box":{"x":521,"y":169,"width":421,"height":8}},{"id":"5d7a7eca-29cf-478d-89a6-aeb85348fb36","block_type":"box","text":"represented by the values shown in the balance sheet. There","page_number":33,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"dd444261-94e0-443e-a59c-e293854ea7e1","block_type":"box","text":"is no material difference between the value of the financial","page_number":33,"box":{"x":522,"y":198,"width":419,"height":8}},{"id":"e8e247c7-df38-4759-a00f-db409bb82f06","block_type":"box","text":"assets and liabilities, as shown in the balance sheet, and their","page_number":33,"box":{"x":521,"y":212,"width":422,"height":9}},{"id":"467f49bc-3342-462f-8558-88acfc1321ee","block_type":"box","text":"fair value.","page_number":33,"box":{"x":521,"y":226,"width":64,"height":8}},{"id":"e09ceeb9-3e67-4766-b37e-c9252a493d00","block_type":"box","text":"The fair value of investments has been determined using the","page_number":33,"box":{"x":521,"y":247,"width":421,"height":10}},{"id":"36803b48-bf22-460d-bbda-6dfb35c700dc","block_type":"box","text":"following hierarchy:","page_number":33,"box":{"x":521,"y":262,"width":130,"height":10}},{"id":"635b8d91-30e4-4e89-985c-451340207741","block_type":"box","text":"Level 1","page_number":33,"box":{"x":522,"y":283,"width":45,"height":7}},{"id":"580a2cb9-9c36-40c2-b826-fad3da36c28c","block_type":"box","text":"The unadjusted quoted price in an active market","page_number":33,"box":{"x":593,"y":283,"width":349,"height":10}},{"id":"e0b0e3ed-7d4f-437a-9fa5-bd02ad33ea50","block_type":"box","text":"for identical assets or liabilities that the entity can","page_number":33,"box":{"x":592,"y":297,"width":349,"height":10}},{"id":"a4980fed-38c3-413e-bd26-8a81c17aac28","block_type":"box","text":"access at the measurement date.","page_number":33,"box":{"x":593,"y":311,"width":224,"height":8}},{"id":"ce90b6f9-9afa-4fc8-8aee-1c23af0718ef","block_type":"box","text":"Level 2","page_number":33,"box":{"x":522,"y":332,"width":47,"height":8}},{"id":"b8f8f4d1-c594-43bd-957f-b1ab2e72374f","block_type":"box","text":"Inputs other than quoted prices included within","page_number":33,"box":{"x":594,"y":332,"width":347,"height":10}},{"id":"b763a83c-3774-4ead-87df-1609f50cfe3d","block_type":"box","text":"Level 1 that are observable (i.e. developed using","page_number":33,"box":{"x":593,"y":346,"width":348,"height":10}},{"id":"b7d1239f-5bb3-4595-849d-c67c12c5794f","block_type":"box","text":"market data) for the asset or liability, either directly","page_number":33,"box":{"x":593,"y":361,"width":349,"height":10}},{"id":"1c917a44-9613-4a3d-9350-9f3756d75177","block_type":"box","text":"or indirectly.","page_number":33,"box":{"x":593,"y":375,"width":80,"height":10}},{"id":"d88358d1-7b4d-4918-8dcf-835e59cbe9e5","block_type":"box","text":"Level 3","page_number":33,"box":{"x":522,"y":396,"width":47,"height":8}},{"id":"3ab5714a-69eb-4ef0-8a8b-9378a3a7f8ce","block_type":"box","text":"Inputs are unobservable (i.e. for which market data","page_number":33,"box":{"x":594,"y":396,"width":348,"height":10}},{"id":"f89107c1-c3b7-4e13-af1e-ce29e9ac2f2e","block_type":"box","text":"is unavailable) for the asset or liability.","page_number":33,"box":{"x":593,"y":410,"width":255,"height":10}},{"id":"10acd7bb-0006-4faa-82a3-a18380b6036f","block_type":"box","text":"As at the period ended 30","page_number":33,"box":{"x":521,"y":431,"width":186,"height":10}},{"id":"12548aa0-3d07-4e4e-86f7-577ef810577b","block_type":"box","text":"June 2026","page_number":33,"box":{"x":713,"y":431,"width":73,"height":8}},{"id":"db6a4e63-c0fb-4a7d-a68d-c851505e5b8d","block_type":"box","text":"Level","page_number":33,"box":{"x":522,"y":456,"width":28,"height":6}},{"id":"cddb11b9-e84f-42b1-a88c-270e2030408e","block_type":"box","text":"1","page_number":33,"box":{"x":718,"y":456,"width":3,"height":6}},{"id":"e9812e58-3dba-4a1d-9457-c044e45d023f","block_type":"box","text":"2","page_number":33,"box":{"x":788,"y":456,"width":6,"height":6}},{"id":"ba37d410-e2e9-4134-8b9d-0d2aa3981281","block_type":"box","text":"3","page_number":33,"box":{"x":860,"y":456,"width":6,"height":6}},{"id":"9e01b69f-0c33-44a1-8527-40b1dbb8f227","block_type":"box","text":"Total","page_number":33,"box":{"x":910,"y":456,"width":27,"height":6}},{"id":"9f3d03b9-931a-4191-9c9d-5128f5a9f128","block_type":"box","text":"£’000","page_number":33,"box":{"x":693,"y":466,"width":30,"height":6}},{"id":"e47b0f2f-60c4-475a-aab1-7997524d017b","block_type":"box","text":"£’000","page_number":33,"box":{"x":764,"y":466,"width":30,"height":6}},{"id":"1b98fdaf-51a6-4aae-a0d4-aa1c9f004f83","block_type":"box","text":"£’000","page_number":33,"box":{"x":836,"y":466,"width":30,"height":6}},{"id":"fc9e100b-4521-4e77-b673-b69a2e49185b","block_type":"box","text":"£’000","page_number":33,"box":{"x":907,"y":466,"width":30,"height":6}},{"id":"377a909d-cb5e-4e06-a29e-0530a8d999ae","block_type":"box","text":"Investments","page_number":33,"box":{"x":522,"y":484,"width":69,"height":6}},{"id":"4da002c2-dbaa-474b-853e-85161a46aa33","block_type":"box","text":"Collective investment","page_number":33,"box":{"x":522,"y":502,"width":113,"height":6}},{"id":"cab07384-8499-49f7-ae58-9b0c11f55b47","block_type":"box","text":"schemes","page_number":33,"box":{"x":521,"y":511,"width":48,"height":6}},{"id":"17035fc3-c9ab-49ba-b598-2f3d3cefccb9","block_type":"box","text":"–","page_number":33,"box":{"x":717,"y":505,"width":6,"height":1}},{"id":"6ae98f1a-711b-4796-922c-9997b993a94b","block_type":"box","text":"750,044","page_number":33,"box":{"x":751,"y":502,"width":43,"height":7}},{"id":"65db1a96-1768-4686-9a5b-1af1aaa336db","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":505,"width":6,"height":1}},{"id":"c4797753-9ad3-484a-bcaa-370afbb87035","block_type":"box","text":"750,044","page_number":33,"box":{"x":894,"y":502,"width":43,"height":7}},{"id":"bb447aaf-0227-402b-8661-89f1b136f788","block_type":"box","text":"Exchange Traded","page_number":33,"box":{"x":522,"y":529,"width":92,"height":7}},{"id":"df228f35-390c-4753-98e7-3a60da25a204","block_type":"box","text":"Funds and","page_number":33,"box":{"x":522,"y":538,"width":54,"height":6}},{"id":"3adc9626-2b94-4d0f-84e7-d1e9bd04ca2b","block_type":"box","text":"Commodities","page_number":33,"box":{"x":522,"y":548,"width":69,"height":6}},{"id":"4c05da0f-585a-4f63-8793-44cc052827e4","block_type":"box","text":"40,958","page_number":33,"box":{"x":686,"y":529,"width":37,"height":7}},{"id":"9f36eac5-49fd-4df9-a575-19fdf4cb2adf","block_type":"box","text":"–","page_number":33,"box":{"x":788,"y":532,"width":7,"height":1}},{"id":"e9145c1e-bdc2-42cc-b1dc-d22310f0dfa2","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":532,"width":6,"height":1}},{"id":"aa388259-5ac6-4a2e-b2f3-b1eaeabf8cab","block_type":"box","text":"40,958","page_number":33,"box":{"x":900,"y":529,"width":37,"height":7}},{"id":"8bc3225d-89ed-4c4f-8899-6c8468f1b95f","block_type":"box","text":"Derivatives","page_number":33,"box":{"x":522,"y":565,"width":58,"height":6}},{"id":"97042e07-8ac1-4569-bcbf-e9d5c44d07fb","block_type":"box","text":"1,446","page_number":33,"box":{"x":695,"y":565,"width":28,"height":7}},{"id":"37b8f2b9-4fff-4d74-8310-eeee2e8fe097","block_type":"box","text":"727","page_number":33,"box":{"x":775,"y":565,"width":19,"height":6}},{"id":"ed6fbb19-f17a-4e6e-9089-743bb87a8ede","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":569,"width":6,"height":0}},{"id":"3196a4b1-dcd9-44e2-b332-2d72338fb3be","block_type":"box","text":"2,173","page_number":33,"box":{"x":910,"y":565,"width":27,"height":7}},{"id":"b82ce580-a6c4-4e75-a299-ddac956a51c4","block_type":"box","text":"Total","page_number":33,"box":{"x":521,"y":583,"width":27,"height":6}},{"id":"7ae4fff8-fc96-419f-b692-07edbb12de68","block_type":"box","text":"42,404","page_number":33,"box":{"x":686,"y":583,"width":37,"height":7}},{"id":"aad949c4-da10-4dad-ad22-5c44ccd5cdab","block_type":"box","text":"750,771","page_number":33,"box":{"x":752,"y":583,"width":41,"height":7}},{"id":"00ff9982-5a87-47c2-8c0e-7a6233ffd920","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":586,"width":6,"height":1}},{"id":"f73655c3-2e97-41ec-a0b9-10e8dc2debd4","block_type":"box","text":"793,175","page_number":33,"box":{"x":896,"y":583,"width":41,"height":7}},{"id":"806ca1bb-3050-4de2-bfe5-b149ec45aa08","block_type":"box","text":"Investment liabilities","page_number":33,"box":{"x":522,"y":600,"width":119,"height":6}},{"id":"c50c542a-476a-449a-9408-58cef58c91b4","block_type":"box","text":"Derivatives","page_number":33,"box":{"x":522,"y":618,"width":58,"height":6}},{"id":"d0ad5843-4eb4-4c58-b831-a83b91f84bb9","block_type":"box","text":"(874)","page_number":33,"box":{"x":701,"y":618,"width":26,"height":7}},{"id":"6a994a1e-b5be-4810-9957-281b6d8b28d0","block_type":"box","text":"(73)","page_number":33,"box":{"x":778,"y":618,"width":20,"height":7}},{"id":"89b81ade-9a53-4fb4-9f4a-707528c145c4","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":621,"width":6,"height":1}},{"id":"6329b767-a00e-4d26-9296-e381d4694b52","block_type":"box","text":"(947)","page_number":33,"box":{"x":914,"y":618,"width":27,"height":7}},{"id":"aeaed0cc-515d-42d8-a609-4d67eeeb5072","block_type":"box","text":"Total","page_number":33,"box":{"x":521,"y":635,"width":27,"height":6}},{"id":"1bf5bc55-997a-4cb3-97a9-6ec96b1a1aa2","block_type":"box","text":"(874)","page_number":33,"box":{"x":701,"y":635,"width":26,"height":8}},{"id":"722fa66b-8cee-407b-992d-0f38a257f85a","block_type":"box","text":"(73)","page_number":33,"box":{"x":778,"y":635,"width":20,"height":8}},{"id":"96395ee3-33f7-457a-b95d-5b2c21d8562c","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":639,"width":6,"height":0}},{"id":"cdf96eec-aec6-4d90-90bc-f379c903fb5a","block_type":"box","text":"(947)","page_number":33,"box":{"x":914,"y":635,"width":27,"height":8}},{"id":"7039650e-dc02-4d0b-ae2c-20d1b6c9600c","block_type":"box","text":"As at the year ended 31","page_number":33,"box":{"x":521,"y":657,"width":168,"height":10}},{"id":"bf14d229-865b-4925-b6f6-9cf7fb1b7844","block_type":"box","text":"December 2025","page_number":33,"box":{"x":697,"y":657,"width":111,"height":8}},{"id":"0ef84a9e-96f3-4bee-9d4d-6fd4b8b65dfd","block_type":"box","text":"Level","page_number":33,"box":{"x":522,"y":682,"width":28,"height":6}},{"id":"d29e5b2b-db6e-47f6-97e5-86816f5bfb88","block_type":"box","text":"1","page_number":33,"box":{"x":718,"y":682,"width":3,"height":6}},{"id":"3df498dd-81ec-4202-92ce-f3c58f0d081b","block_type":"box","text":"2","page_number":33,"box":{"x":788,"y":682,"width":6,"height":6}},{"id":"ab69a3bd-01f1-4af4-8e83-ad772c59aa05","block_type":"box","text":"3","page_number":33,"box":{"x":860,"y":682,"width":6,"height":6}},{"id":"6347d01b-f49a-4758-86d1-74873d8d67ae","block_type":"box","text":"Total","page_number":33,"box":{"x":910,"y":682,"width":27,"height":6}},{"id":"7200bee8-a541-49df-b289-bf344188726a","block_type":"box","text":"£’000","page_number":33,"box":{"x":693,"y":692,"width":30,"height":6}},{"id":"69dc2bdf-8809-4b6d-8e62-19a8f3f04594","block_type":"box","text":"£’000","page_number":33,"box":{"x":764,"y":692,"width":30,"height":6}},{"id":"6cc9a1ed-bac0-438a-83d3-b3a3b62611cc","block_type":"box","text":"£’000","page_number":33,"box":{"x":836,"y":692,"width":30,"height":6}},{"id":"1c2c9515-6fa5-4766-989b-41e2fe37c38a","block_type":"box","text":"£’000","page_number":33,"box":{"x":907,"y":692,"width":30,"height":6}},{"id":"ff3f6c10-03e4-44ed-af50-78be0fe60c85","block_type":"box","text":"Investments","page_number":33,"box":{"x":522,"y":710,"width":69,"height":6}},{"id":"2f866062-650a-4c9e-8d5f-70ca1f4546f7","block_type":"box","text":"Collective investment","page_number":33,"box":{"x":522,"y":728,"width":113,"height":6}},{"id":"e99f9974-ff35-4ef0-b94e-ec7084054f02","block_type":"box","text":"schemes","page_number":33,"box":{"x":521,"y":737,"width":48,"height":6}},{"id":"4d05c8ed-8566-491c-a54d-293d26a8517b","block_type":"box","text":"–","page_number":33,"box":{"x":717,"y":731,"width":6,"height":1}},{"id":"ccf662f4-e6cc-4730-848b-019787f0b7d4","block_type":"box","text":"670,749","page_number":33,"box":{"x":753,"y":728,"width":41,"height":7}},{"id":"2458664d-c8b8-4138-8dde-99f78a462f94","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":731,"width":6,"height":1}},{"id":"aaef1bae-a669-4364-a5d6-b4545888c58b","block_type":"box","text":"670,749","page_number":33,"box":{"x":896,"y":728,"width":41,"height":7}},{"id":"2f9701e1-3926-45f1-9f5c-5cba6fe90cb5","block_type":"box","text":"Exchange Traded","page_number":33,"box":{"x":522,"y":755,"width":92,"height":7}},{"id":"c98ce71a-2e1d-4c13-a170-b22b24719776","block_type":"box","text":"Funds and","page_number":33,"box":{"x":522,"y":764,"width":54,"height":6}},{"id":"5ef8f43a-9d26-42df-afbc-d8c5d07753c5","block_type":"box","text":"Commodities","page_number":33,"box":{"x":522,"y":774,"width":69,"height":6}},{"id":"0a5a6281-497b-459f-ac9b-e381797d42b7","block_type":"box","text":"54,260","page_number":33,"box":{"x":686,"y":755,"width":37,"height":7}},{"id":"4485fd76-b57a-46d4-88cf-825e2bf59acf","block_type":"box","text":"–","page_number":33,"box":{"x":788,"y":758,"width":7,"height":1}},{"id":"eaa1b342-2701-4622-898b-efdcbb00d815","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":758,"width":6,"height":1}},{"id":"e0568e64-786d-45f9-acf3-8021ecec9c67","block_type":"box","text":"54,260","page_number":33,"box":{"x":901,"y":755,"width":36,"height":7}},{"id":"b793eee7-3add-439b-b814-bc8599033b96","block_type":"box","text":"Derivatives","page_number":33,"box":{"x":522,"y":791,"width":58,"height":6}},{"id":"2f1c2765-fb99-4b45-adb5-646e9eb1a381","block_type":"box","text":"993","page_number":33,"box":{"x":704,"y":791,"width":19,"height":6}},{"id":"7c1bf83f-6421-4e73-b603-45577a397337","block_type":"box","text":"22","page_number":33,"box":{"x":782,"y":791,"width":12,"height":6}},{"id":"12f23d8e-25e2-466b-be93-2a22b58fbf74","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":795,"width":6,"height":0}},{"id":"1a253f45-3728-4616-8066-b2499085c3e5","block_type":"box","text":"1,015","page_number":33,"box":{"x":910,"y":791,"width":27,"height":7}},{"id":"bfac555e-f94f-4994-a3cc-14afd2b837bd","block_type":"box","text":"Total","page_number":33,"box":{"x":521,"y":809,"width":27,"height":6}},{"id":"f51c9572-f574-462f-8a33-8d64a229e48c","block_type":"box","text":"55,253","page_number":33,"box":{"x":686,"y":809,"width":37,"height":7}},{"id":"7bb57d60-4dc1-424f-85e5-3cb9edb988cd","block_type":"box","text":"670,771","page_number":33,"box":{"x":752,"y":809,"width":41,"height":7}},{"id":"8701b121-0793-48ae-b118-8534c0e41520","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":812,"width":6,"height":1}},{"id":"9dcc7322-a516-4c0d-ad16-f1560b5f3285","block_type":"box","text":"726,024","page_number":33,"box":{"x":894,"y":809,"width":43,"height":7}},{"id":"f29ba47a-ee96-4fd3-9e94-d0faaf0d8fa9","block_type":"box","text":"Investment liabilities","page_number":33,"box":{"x":522,"y":826,"width":119,"height":6}},{"id":"ad69ce0a-42c7-447c-84e2-212484db5206","block_type":"box","text":"Derivatives","page_number":33,"box":{"x":522,"y":844,"width":58,"height":6}},{"id":"1e679008-6539-46c6-926e-18fe6e29702f","block_type":"box","text":"(641)","page_number":33,"box":{"x":701,"y":844,"width":26,"height":7}},{"id":"df338028-59ac-4371-89ca-c2812e58cae3","block_type":"box","text":"(441)","page_number":33,"box":{"x":773,"y":844,"width":25,"height":7}},{"id":"7da6ee2e-2636-4700-b544-14f9d3f53d18","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":847,"width":6,"height":1}},{"id":"343f39b5-be43-4471-8344-3b394ae127dd","block_type":"box","text":"(1,082)","page_number":33,"box":{"x":905,"y":844,"width":36,"height":7}},{"id":"328ea8fe-99a9-40a6-9038-0f0e7a94db8e","block_type":"box","text":"Total","page_number":33,"box":{"x":521,"y":861,"width":27,"height":6}},{"id":"7fe00ed1-17da-4647-b74b-48fe12d05d92","block_type":"box","text":"(641)","page_number":33,"box":{"x":701,"y":861,"width":26,"height":8}},{"id":"643b77f8-7471-4e25-a58f-d316e48e7fcd","block_type":"box","text":"(441)","page_number":33,"box":{"x":772,"y":861,"width":26,"height":8}},{"id":"9c830317-ee90-4221-989b-702928f49010","block_type":"box","text":"–","page_number":33,"box":{"x":860,"y":865,"width":6,"height":1}},{"id":"350b9a4b-fe82-49cb-9c09-075cff3a7863","block_type":"box","text":"(1,082)","page_number":33,"box":{"x":905,"y":861,"width":36,"height":8}},{"id":"4cb8bb0e-5320-4dbf-a222-a3f3711f638d","block_type":"box","text":"Royal London GMAP Balanced Fund | Royal London Multi-Asset Funds ICVC","page_number":33,"box":{"x":503,"y":33,"width":410,"height":8}},{"id":"a007f4db-5547-4bce-b231-91230c80ad0c","block_type":"box","text":"33","page_number":33,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"b3c54051-5992-4985-bf96-4c923e91951e","block_type":"box","text":"Manager’s Investment Report","page_number":34,"box":{"x":58,"y":151,"width":352,"height":14}},{"id":"ea4b422b-36dc-4607-8800-b94f8f6a21ec","block_type":"box","text":"Cumulative Performance","page_number":34,"box":{"x":57,"y":181,"width":230,"height":9}},{"id":"42fe6de8-8080-4235-bb7a-80982c106188","block_type":"box","text":"(% change to 30/06/26)","page_number":34,"box":{"x":57,"y":203,"width":164,"height":10}},{"id":"58ccae01-6a33-409c-83b3-ac8e89771bc9","block_type":"box","text":"6 month","page_number":34,"box":{"x":242,"y":231,"width":46,"height":6}},{"id":"8529decb-f0c8-4019-a63d-7b0fe9268994","block_type":"box","text":"total","page_number":34,"box":{"x":263,"y":241,"width":25,"height":6}},{"id":"614ce0e1-0d36-4dba-9c84-6688b8bb702c","block_type":"box","text":"return","page_number":34,"box":{"x":254,"y":250,"width":34,"height":6}},{"id":"05a97e77-6c5c-4a59-81fd-984efc05e352","block_type":"box","text":"%","page_number":34,"box":{"x":279,"y":260,"width":9,"height":6}},{"id":"e5c9975e-47e7-41d4-b2ac-7f033247cfd3","block_type":"box","text":"1 year","page_number":34,"box":{"x":316,"y":231,"width":34,"height":8}},{"id":"d58810c7-1444-42c2-bbb4-4f5913a9740f","block_type":"box","text":"total","page_number":34,"box":{"x":324,"y":241,"width":25,"height":6}},{"id":"543d0df7-0af7-4351-9ef6-bcb5e0f0bd09","block_type":"box","text":"return","page_number":34,"box":{"x":315,"y":250,"width":34,"height":6}},{"id":"2805f532-4c92-4106-ac20-56fcbee1af89","block_type":"box","text":"%","page_number":34,"box":{"x":340,"y":260,"width":9,"height":6}},{"id":"10d67195-d12d-4443-952f-3f570c117b75","block_type":"box","text":"3 year","page_number":34,"box":{"x":376,"y":231,"width":34,"height":8}},{"id":"38678f64-e631-41b6-af27-2910d5957fe5","block_type":"box","text":"total","page_number":34,"box":{"x":385,"y":241,"width":24,"height":6}},{"id":"75e0b4a8-8785-44fc-9e9f-dc0e1056ae6d","block_type":"box","text":"return","page_number":34,"box":{"x":376,"y":250,"width":33,"height":6}},{"id":"f9e3d6ff-f064-4c6d-84d9-7985c84c21aa","block_type":"box","text":"%","page_number":34,"box":{"x":400,"y":260,"width":10,"height":6}},{"id":"35a37806-4e20-4578-87e8-cfbb8ef50a82","block_type":"box","text":"5 year","page_number":34,"box":{"x":437,"y":231,"width":34,"height":8}},{"id":"8b75e6f8-4c24-4b52-856a-2de19ee44d09","block_type":"box","text":"total","page_number":34,"box":{"x":445,"y":241,"width":25,"height":6}},{"id":"7c92129c-0902-4485-9d08-3711aa742831","block_type":"box","text":"return","page_number":34,"box":{"x":436,"y":250,"width":34,"height":6}},{"id":"299ec24d-2c11-4621-8c6c-15433eba4853","block_type":"box","text":"%","page_number":34,"box":{"x":461,"y":260,"width":9,"height":6}},{"id":"ef0dc628-d815-4bca-82f8-466da8d01d4b","block_type":"box","text":"Royal London GMAP","page_number":34,"box":{"x":58,"y":279,"width":111,"height":8}},{"id":"33386ec9-569b-4df7-84bf-2444200c6dd1","block_type":"box","text":"Growth Fund,","page_number":34,"box":{"x":57,"y":289,"width":71,"height":7}},{"id":"7320ae90-9438-411b-b202-37ad777b4fed","block_type":"box","text":"Class M Accumulation","page_number":34,"box":{"x":57,"y":298,"width":118,"height":7}},{"id":"1de83749-0976-45f8-ae3b-72b3cd8179ef","block_type":"box","text":"7.99","page_number":34,"box":{"x":267,"y":280,"width":21,"height":6}},{"id":"14afccde-c6cc-4b18-87a0-cd124712c00c","block_type":"box","text":"18.05","page_number":34,"box":{"x":321,"y":280,"width":28,"height":6}},{"id":"c3ac0c2a-6026-4f2c-8cba-9b6c59a5d2f5","block_type":"box","text":"38.32","page_number":34,"box":{"x":380,"y":280,"width":30,"height":6}},{"id":"2dad6028-0735-49ae-a504-c46bdbeccc02","block_type":"box","text":"42.24","page_number":34,"box":{"x":441,"y":280,"width":29,"height":6}},{"id":"0260c355-14d9-4aba-9322-e80bf2ac7abf","block_type":"box","text":"Royal London GMAP","page_number":34,"box":{"x":58,"y":318,"width":111,"height":8}},{"id":"d0ea9a6c-5615-4903-bd7b-73030afc4fcf","block_type":"box","text":"Growth Fund,","page_number":34,"box":{"x":57,"y":327,"width":71,"height":8}},{"id":"c8863ee8-3ffd-4997-a51a-42e62aefef98","block_type":"box","text":"Class M Income","page_number":34,"box":{"x":57,"y":337,"width":85,"height":6}},{"id":"b5c063b5-728d-418c-8e8e-e8704dc92da9","block_type":"box","text":"7.73","page_number":34,"box":{"x":267,"y":318,"width":21,"height":6}},{"id":"09bcf493-3349-493d-8809-8b0db0123cbd","block_type":"box","text":"17.88","page_number":34,"box":{"x":322,"y":318,"width":27,"height":6}},{"id":"14e23558-6d3e-4c35-893f-3320c634fa78","block_type":"box","text":"38.04","page_number":34,"box":{"x":380,"y":318,"width":30,"height":6}},{"id":"4e23be9f-823a-40ad-9905-784a99eed571","block_type":"box","text":"41.59","page_number":34,"box":{"x":442,"y":318,"width":28,"height":6}},{"id":"52919a58-94ea-4d10-bc62-539ef69b8e85","block_type":"box","text":"Royal London GMAP","page_number":34,"box":{"x":58,"y":357,"width":111,"height":7}},{"id":"435c027f-80da-48f5-b1c5-9e541c6ab6df","block_type":"box","text":"Growth Fund,","page_number":34,"box":{"x":57,"y":366,"width":71,"height":7}},{"id":"3abe5e44-a65d-475a-a808-fec2c9df006e","block_type":"box","text":"Class P Accumulation","page_number":34,"box":{"x":57,"y":376,"width":116,"height":6}},{"id":"3c9def47-573f-41bb-868d-47854733e9d7","block_type":"box","text":"8.02","page_number":34,"box":{"x":266,"y":357,"width":22,"height":6}},{"id":"da79e051-17cd-4075-a05e-c845ac7b9059","block_type":"box","text":"18.13","page_number":34,"box":{"x":322,"y":357,"width":27,"height":6}},{"id":"1e176bf1-f43a-45fb-b714-a88d94019c49","block_type":"box","text":"38.59","page_number":34,"box":{"x":380,"y":357,"width":30,"height":6}},{"id":"869c3852-6482-4a4c-86ff-9bbfaeebf30e","block_type":"box","text":"42.50","page_number":34,"box":{"x":441,"y":357,"width":29,"height":6}},{"id":"fc8ec18c-fb8c-4603-9847-196b418ef87f","block_type":"box","text":"Royal London GMAP","page_number":34,"box":{"x":58,"y":395,"width":111,"height":8}},{"id":"28ee732f-4527-4d3d-ae65-2cd838958738","block_type":"box","text":"Growth Fund,","page_number":34,"box":{"x":57,"y":405,"width":71,"height":7}},{"id":"d05cbe5f-93af-4c9e-a8b2-62fd15b40025","block_type":"box","text":"Class R Accumulation","page_number":34,"box":{"x":57,"y":414,"width":117,"height":6}},{"id":"b29ba50b-7245-4d4a-8f51-3ad1bd997db0","block_type":"box","text":"8.19","page_number":34,"box":{"x":267,"y":395,"width":21,"height":6}},{"id":"3d3137ce-b5af-45dd-bbe3-ad6c6b0e7869","block_type":"box","text":"18.48","page_number":34,"box":{"x":321,"y":395,"width":28,"height":6}},{"id":"6ce02723-eab9-49b0-8b4a-38f08144938a","block_type":"box","text":"39.89","page_number":34,"box":{"x":380,"y":395,"width":30,"height":6}},{"id":"47647f88-a516-46a3-8bfd-87e78b5c60bb","block_type":"box","text":"44.85","page_number":34,"box":{"x":441,"y":395,"width":29,"height":6}},{"id":"6559fcc6-eb57-4684-9b88-3c3421b6da82","block_type":"box","text":"Royal London GMAP","page_number":34,"box":{"x":58,"y":434,"width":111,"height":7}},{"id":"e790e0b9-7441-4f21-aa7b-87222e034983","block_type":"box","text":"Growth Fund,","page_number":34,"box":{"x":57,"y":443,"width":71,"height":7}},{"id":"414ef4ed-db02-4568-95db-5aabd17b7bf2","block_type":"box","text":"Class S Accumulation","page_number":34,"box":{"x":57,"y":453,"width":116,"height":6}},{"id":"0eb70358-4452-4bb9-a0f5-4c2297bf066c","block_type":"box","text":"8.18","page_number":34,"box":{"x":267,"y":434,"width":21,"height":6}},{"id":"ea834f8d-c865-4ccc-a601-197d183c6cb3","block_type":"box","text":"18.53","page_number":34,"box":{"x":321,"y":434,"width":28,"height":6}},{"id":"2c01f780-3241-4607-ad56-f6280dfcb19b","block_type":"box","text":"–","page_number":34,"box":{"x":404,"y":437,"width":6,"height":1}},{"id":"91e1e6f2-377e-493f-b715-b65928206805","block_type":"box","text":"–","page_number":34,"box":{"x":464,"y":437,"width":7,"height":1}},{"id":"1ecc1c29-7bac-4fb3-a3a5-cf524863c1ae","block_type":"box","text":"Royal London GMAP","page_number":34,"box":{"x":58,"y":472,"width":111,"height":8}},{"id":"4c006042-e4e9-4690-9d00-2c92a752e993","block_type":"box","text":"Growth Fund,","page_number":34,"box":{"x":57,"y":482,"width":71,"height":7}},{"id":"d008bf5c-0f75-456c-b712-0ba2d836f226","block_type":"box","text":"Class Z Accumulation","page_number":34,"box":{"x":57,"y":491,"width":115,"height":6}},{"id":"5b9b7aaf-1ae8-45dc-b806-1fb3cc2791ff","block_type":"box","text":"8.11","page_number":34,"box":{"x":268,"y":472,"width":19,"height":6}},{"id":"5e2e6fe5-98e5-4a2f-bd43-846d2cc97aa7","block_type":"box","text":"18.26","page_number":34,"box":{"x":321,"y":472,"width":28,"height":6}},{"id":"4e420400-5e83-4dd3-88ae-e8da94924d19","block_type":"box","text":"39.07","page_number":34,"box":{"x":381,"y":472,"width":29,"height":6}},{"id":"c5717d7b-8a3e-4bd8-a50a-c3bae20c744e","block_type":"box","text":"–","page_number":34,"box":{"x":464,"y":476,"width":7,"height":0}},{"id":"0a31a602-a45e-4cb3-b901-4d5cf0471446","block_type":"box","text":"IA Mixed Investment 40-85%","page_number":34,"box":{"x":58,"y":511,"width":152,"height":6}},{"id":"0324b813-f17c-4857-ad74-3cbb3408d371","block_type":"box","text":"Shares Total Return (TR)*","page_number":34,"box":{"x":57,"y":520,"width":138,"height":8}},{"id":"fe7686fe-6747-4507-8ee7-397a80c5dcb6","block_type":"box","text":"7.21","page_number":34,"box":{"x":267,"y":511,"width":20,"height":6}},{"id":"466a642c-e9b8-46cf-a373-8b2a4dae23d7","block_type":"box","text":"16.61","page_number":34,"box":{"x":321,"y":511,"width":26,"height":6}},{"id":"d986032f-fe6f-4b38-b718-b9933a6e3b5d","block_type":"box","text":"37.51","page_number":34,"box":{"x":382,"y":511,"width":26,"height":6}},{"id":"be518b98-9ee0-4ea5-8454-57b99ccf1a84","block_type":"box","text":"31.90","page_number":34,"box":{"x":442,"y":511,"width":28,"height":6}},{"id":"ab4e8ce7-82e8-48d3-abbb-67f77287cab7","block_type":"box","text":"* Benchmark","page_number":34,"box":{"x":57,"y":548,"width":69,"height":6}},{"id":"6a099bea-7a0f-4e85-b1d1-88b685d48de4","block_type":"box","text":"Class Z Accumulation launched on 31 January 2023 and Class S Accumulation","page_number":34,"box":{"x":57,"y":562,"width":420,"height":8}},{"id":"846aa602-007d-44ca-a598-b66d4cdfc9db","block_type":"box","text":"launched on 12 October 2023.","page_number":34,"box":{"x":57,"y":573,"width":160,"height":6}},{"id":"abd21523-0086-41e3-891c-c9efda2d1b6f","block_type":"box","text":"Past performance is not necessarily a reliable indicator","page_number":34,"box":{"x":58,"y":592,"width":420,"height":10}},{"id":"6b93e6a7-871c-436f-b78d-7da124ebce83","block_type":"box","text":"of future performance. The value of investments and the","page_number":34,"box":{"x":57,"y":606,"width":420,"height":10}},{"id":"e9e38e30-7040-417b-a3b8-b1bea7beb1c2","block_type":"box","text":"income from them is not guaranteed and may go down","page_number":34,"box":{"x":58,"y":620,"width":419,"height":10}},{"id":"a94b973b-c121-4580-9b00-4589c119a343","block_type":"box","text":"as well as up and investors may not get back the amount","page_number":34,"box":{"x":57,"y":635,"width":421,"height":10}},{"id":"d9b8b384-3682-4c8e-b4da-91f3def5d0cc","block_type":"box","text":"originally invested.","page_number":34,"box":{"x":57,"y":649,"width":138,"height":10}},{"id":"fbb71a1f-e5ed-4919-aad3-dc410da3d336","block_type":"box","text":"Source: Royal London Asset Management Limited and","page_number":34,"box":{"x":57,"y":670,"width":420,"height":10}},{"id":"c62f9cd6-8970-4515-a699-d189109e807e","block_type":"box","text":"Morningstar, as at 30","page_number":34,"box":{"x":58,"y":684,"width":165,"height":10}},{"id":"4a4693ef-1cb2-4812-a156-1b6fc15c55dd","block_type":"box","text":"June 2026. Returns are net of","page_number":34,"box":{"x":237,"y":684,"width":242,"height":8}},{"id":"26d4bed9-9207-4d1d-9ff2-28c01b2011ad","block_type":"box","text":"management fees. Investors should also note that the total","page_number":34,"box":{"x":58,"y":698,"width":419,"height":10}},{"id":"94022fb0-0a0f-4fda-b365-c0ce523d0846","block_type":"box","text":"return is calculated on the Fund’s official 2pm price whereas the","page_number":34,"box":{"x":58,"y":713,"width":419,"height":10}},{"id":"ac2e4880-ec5a-4db3-b4e1-ccf27463541d","block_type":"box","text":"Fund has been valued as at close of business for the Closing","page_number":34,"box":{"x":58,"y":727,"width":419,"height":10}},{"id":"966fc218-a525-41b6-a5de-5613c4ca8d82","block_type":"box","text":"Net Asset Value quoted within the Comparative Table. For","page_number":34,"box":{"x":58,"y":741,"width":420,"height":10}},{"id":"d1fb3a0b-d49a-48a5-bf69-b2c88848d520","block_type":"box","text":"further information, including ongoing performance and Fund","page_number":34,"box":{"x":57,"y":755,"width":420,"height":10}},{"id":"ec953e00-b887-4dc4-a8ee-e7cccbed3af9","block_type":"box","text":"breakdown information, please refer to the latest factsheet at","page_number":34,"box":{"x":58,"y":770,"width":420,"height":10}},{"id":"edad466b-454f-4f98-b00e-53dfe27e9a25","block_type":"box","text":"www.rlam.com.","page_number":34,"box":{"x":57,"y":784,"width":103,"height":8}},{"id":"642a491d-dac5-4d3e-9589-b90c35acfe22","block_type":"box","text":"Fund objective","page_number":34,"box":{"x":522,"y":151,"width":135,"height":11}},{"id":"bd9f6352-f198-4a64-ae9d-e9a593b68aa9","block_type":"box","text":"The Fund aims to achieve capital growth over rolling 5-year","page_number":34,"box":{"x":521,"y":169,"width":422,"height":10}},{"id":"a22ac406-737b-428b-8283-0c589c26fed2","block_type":"box","text":"periods, after the deduction of charges. The Fund forms part of","page_number":34,"box":{"x":522,"y":184,"width":421,"height":10}},{"id":"4b1dcdf0-546d-4276-9bd9-dd11e3529200","block_type":"box","text":"the Royal London Global Multi-Asset Portfolio (“GMAP”) range","page_number":34,"box":{"x":521,"y":198,"width":421,"height":10}},{"id":"7851a4da-c886-4fbe-a4ff-a1e46069ed76","block_type":"box","text":"and aims to achieve a high level of risk and return relative to","page_number":34,"box":{"x":521,"y":212,"width":421,"height":10}},{"id":"8cfab981-90f1-4b7c-8a3a-209f3afe9b20","block_type":"box","text":"other funds in the GMAP range as further described in the","page_number":34,"box":{"x":521,"y":226,"width":421,"height":10}},{"id":"a95b1b95-1a85-4e67-8859-8d3bae774c73","block_type":"box","text":"investment strategy. The performance comparator for the","page_number":34,"box":{"x":522,"y":241,"width":420,"height":10}},{"id":"d1a26dbd-3420-4011-8144-0b30398037c0","block_type":"box","text":"Fund is the IA Mixed Investment 40–85% Shares sector (“IA","page_number":34,"box":{"x":522,"y":255,"width":420,"height":10}},{"id":"99d0e688-9511-430e-8f5f-4853bc0550c3","block_type":"box","text":"Sector”). Funds in the IA Sector must invest between 40% and","page_number":34,"box":{"x":522,"y":269,"width":419,"height":10}},{"id":"c349ac98-1526-40e9-a459-d40f77dc1cb0","block_type":"box","text":"85% of their assets in shares. The Fund’s assets are generally","page_number":34,"box":{"x":522,"y":283,"width":420,"height":10}},{"id":"ddd58b2a-05a5-4cbb-a165-ce816910c750","block_type":"box","text":"consistent with these investment parameters therefore the IA","page_number":34,"box":{"x":522,"y":298,"width":420,"height":10}},{"id":"6083d7c0-3846-4132-8b5c-eb4065753ad5","block_type":"box","text":"Sector is considered appropriate as a performance comparator.","page_number":34,"box":{"x":522,"y":312,"width":419,"height":10}},{"id":"aa8a3abb-b935-4582-af5d-0623b8b09e95","block_type":"box","text":"Management of the Fund is not restricted by the use of the IA","page_number":34,"box":{"x":522,"y":326,"width":420,"height":10}},{"id":"6b398b3b-0f9b-40a4-bd73-ca7d060827a3","block_type":"box","text":"Sector as a performance comparator.","page_number":34,"box":{"x":522,"y":340,"width":251,"height":10}},{"id":"eb38285a-27f2-49d6-911f-d27f9fbc3a84","block_type":"box","text":"Performance overview","page_number":34,"box":{"x":522,"y":367,"width":209,"height":9}},{"id":"9ae3cc5a-9055-47b3-a45c-6d276b9c0ccd","block_type":"box","text":"The Fund outperformed the benchmark during the period","page_number":34,"box":{"x":521,"y":386,"width":420,"height":10}},{"id":"f19d40b5-4eaf-414b-bd45-d7527bb9e488","block_type":"box","text":"under review.","page_number":34,"box":{"x":522,"y":400,"width":88,"height":8}},{"id":"278dbc19-ef2c-4362-b204-80cfa99e7aff","block_type":"box","text":"Market overview","page_number":34,"box":{"x":522,"y":427,"width":154,"height":9}},{"id":"61ef3b8e-f647-4678-bcea-9b442b347b3a","block_type":"box","text":"Geopolitical tensions in the Middle East were a key driver of","page_number":34,"box":{"x":522,"y":445,"width":421,"height":10}},{"id":"40ffe7cd-c62a-43da-b3a4-a3e6539ff138","block_type":"box","text":"markets over the period, which saw commodities rise materially","page_number":34,"box":{"x":522,"y":460,"width":420,"height":10}},{"id":"e7905ed9-8996-49c2-a3b1-42cd3087807c","block_type":"box","text":"over the start of the year. Despite this, global equity markets","page_number":34,"box":{"x":521,"y":474,"width":421,"height":10}},{"id":"0ae54c3f-c297-4a41-9d93-34c377936265","block_type":"box","text":"performed well over the period, with euphoria around Artificial","page_number":34,"box":{"x":522,"y":488,"width":419,"height":10}},{"id":"cf7f19a6-3b6b-4b03-8204-70d20f3771cf","block_type":"box","text":"Intelligence (AI) once again boosting investor sentiment.","page_number":34,"box":{"x":522,"y":502,"width":419,"height":10}},{"id":"16a40057-d384-4c5e-930b-43794bd802c0","block_type":"box","text":"Semiconductor companies, which are at the heart of the AI","page_number":34,"box":{"x":522,"y":517,"width":419,"height":10}},{"id":"feb45fdc-0459-46ea-b0ea-e2c0d7c0bfb6","block_type":"box","text":"infrastructure buildout, were beneficiaries, rising sharply.","page_number":34,"box":{"x":522,"y":531,"width":419,"height":10}},{"id":"43ab092f-d86b-41b2-b3f3-78f404c4a849","block_type":"box","text":"Bond yields ended the period higher, as rising inflation risk","page_number":34,"box":{"x":522,"y":545,"width":420,"height":10}},{"id":"26c06967-51b9-4b60-b6af-66b862e83e5c","block_type":"box","text":"saw markets moved to price in interest rate hikes from global","page_number":34,"box":{"x":521,"y":559,"width":420,"height":10}},{"id":"c11e2dac-b026-4dd0-bfcf-850977e4dece","block_type":"box","text":"central banks.","page_number":34,"box":{"x":522,"y":574,"width":94,"height":8}},{"id":"c137a9d2-6cb4-408f-8eea-d7274514a266","block_type":"box","text":"Royal London GMAP Growth Fund","page_number":34,"box":{"x":59,"y":94,"width":489,"height":17}},{"id":"07959813-aff2-46bd-8d1a-6df2e90f56ca","block_type":"box","text":"Royal London GMAP Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":34,"box":{"x":514,"y":33,"width":399,"height":8}},{"id":"e377af6b-1f24-48bb-89ef-f7c85683c569","block_type":"box","text":"34","page_number":34,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"cd689988-d20e-4180-81d3-b1ebe9b74e58","block_type":"box","text":"Manager’s Investment Report","page_number":35,"box":{"x":58,"y":94,"width":352,"height":14}},{"id":"2aff2a62-d128-43ff-ae68-19e43db4cb48","block_type":"box","text":"(continued)","page_number":35,"box":{"x":415,"y":97,"width":75,"height":10}},{"id":"10ebf07a-1e37-48b4-8985-78b03dd35e04","block_type":"box","text":"Portfolio commentary","page_number":35,"box":{"x":58,"y":151,"width":198,"height":11}},{"id":"d2884c29-f276-4241-aba3-8dfd8d1cde9e","block_type":"box","text":"Having begun the year with a tactically overweight position in","page_number":35,"box":{"x":58,"y":169,"width":419,"height":10}},{"id":"031e0c60-eb2a-4a8a-87f0-2506699efe4a","block_type":"box","text":"equities, the Fund moved to a more defensive position towards","page_number":35,"box":{"x":57,"y":184,"width":421,"height":10}},{"id":"647f790c-e038-4105-a432-0346803c456e","block_type":"box","text":"the end of the first quarter, noting the sharp rise of uncertainty","page_number":35,"box":{"x":57,"y":198,"width":421,"height":10}},{"id":"3a1cd218-c437-4902-92e0-5d75012a7f7a","block_type":"box","text":"which accompanied the onset of the war between US and Iran.","page_number":35,"box":{"x":57,"y":212,"width":420,"height":10}},{"id":"b7a45149-770f-432c-81d5-4da9c7631b11","block_type":"box","text":"This saw the Fund move to a tactically underweight position","page_number":35,"box":{"x":57,"y":226,"width":420,"height":10}},{"id":"091020f5-5e94-4b8e-81b2-51ff3cbd9f40","block_type":"box","text":"heading into the Spring. The Fund shortly added back to","page_number":35,"box":{"x":58,"y":241,"width":420,"height":10}},{"id":"95b2c7d2-d1cf-49ad-88e1-7ff293f05168","block_type":"box","text":"equities at the lower levels, as investor sentiment started to","page_number":35,"box":{"x":57,"y":255,"width":420,"height":10}},{"id":"ea651a21-29ba-4e48-8bc2-46728d2dfb7f","block_type":"box","text":"improve from oversold levels on renewed AI enthusiasm.","page_number":35,"box":{"x":58,"y":269,"width":380,"height":10}},{"id":"7c31dfc7-19ec-4d2d-a0f9-1220dc51c03a","block_type":"box","text":"At the regional level, tactical positioning has mostly been","page_number":35,"box":{"x":57,"y":290,"width":420,"height":10}},{"id":"dbdccd23-af3f-4955-a2c1-110192508f7e","block_type":"box","text":"overweight Japan, the US and emerging markets supported","page_number":35,"box":{"x":57,"y":304,"width":420,"height":10}},{"id":"20d62454-34d0-4cf2-a788-dc48148cb070","block_type":"box","text":"by strong earnings and the enthusiasm around AI stocks.","page_number":35,"box":{"x":58,"y":319,"width":419,"height":10}},{"id":"c3a9a8c2-21a6-48f3-b9b6-2d0bd6964d9c","block_type":"box","text":"The Fund has also remained tactically underweight Europe","page_number":35,"box":{"x":57,"y":333,"width":420,"height":10}},{"id":"cb6d1585-8991-44d7-abef-363c6560b07f","block_type":"box","text":"throughout most of the period as earnings continued to be","page_number":35,"box":{"x":57,"y":347,"width":420,"height":10}},{"id":"92393b2e-b01d-4078-bb34-a95ec21c39bf","block_type":"box","text":"lacklustre and the region suffered with its greater sensitivity to","page_number":35,"box":{"x":58,"y":361,"width":419,"height":10}},{"id":"4111a9ff-a359-4ce9-8e05-af2a8a8eae5a","block_type":"box","text":"the higher energy prices.","page_number":35,"box":{"x":57,"y":376,"width":167,"height":10}},{"id":"49ff5e9f-e2f0-4add-91e3-bcfde36072fc","block_type":"box","text":"Elsewhere, our strategic allocation to commodities proved","page_number":35,"box":{"x":58,"y":397,"width":419,"height":10}},{"id":"4e423f84-fb01-4e9d-80f7-c3b97d3ecdd6","block_type":"box","text":"beneficial particularly in the early months of 2026, as the","page_number":35,"box":{"x":58,"y":411,"width":419,"height":10}},{"id":"2016c022-8cab-4806-8cd3-6fb032effb9a","block_type":"box","text":"asset class surged over the quarter as escalating geopolitical","page_number":35,"box":{"x":57,"y":425,"width":420,"height":10}},{"id":"7fd4b25a-6d61-464d-87d5-5d4e709facf2","block_type":"box","text":"tensions culminated in direct military conflict with Iran. Brent","page_number":35,"box":{"x":57,"y":439,"width":421,"height":10}},{"id":"372e88bd-ff66-4552-ab7b-2a5acd2467a7","block_type":"box","text":"crude recorded its largest quarterly gain since the Gulf War in","page_number":35,"box":{"x":57,"y":454,"width":420,"height":10}},{"id":"b0fa1a99-9a0e-4919-a469-a15da315c2a4","block_type":"box","text":"1990 (+94%).","page_number":35,"box":{"x":58,"y":468,"width":87,"height":10}},{"id":"29a0bee2-bcaf-4645-9b3a-d7852aad85e4","block_type":"box","text":"Gold had been held as a separate tactical position heading","page_number":35,"box":{"x":57,"y":489,"width":420,"height":10}},{"id":"3c35cadf-2b8f-486b-ad2b-0a04aa398990","block_type":"box","text":"into the year before being fully removed towards the end of","page_number":35,"box":{"x":58,"y":503,"width":421,"height":10}},{"id":"ba273710-594a-4de7-9812-022381f3af93","block_type":"box","text":"March. The position had continued to add value in the Fund,","page_number":35,"box":{"x":58,"y":518,"width":419,"height":9}},{"id":"67dafe27-5bb5-4753-85bf-12c47b5ed333","block_type":"box","text":"benefitting last year from a backdrop of elevated risks around","page_number":35,"box":{"x":58,"y":532,"width":419,"height":10}},{"id":"6ef960cb-6eb8-4a41-b90c-a098705be3a1","block_type":"box","text":"geopolitics and US policy.","page_number":35,"box":{"x":57,"y":546,"width":173,"height":10}},{"id":"dd05f542-715f-46ad-88db-7c0da91140ee","block_type":"box","text":"Investment outlook","page_number":35,"box":{"x":522,"y":151,"width":179,"height":9}},{"id":"6d733c9f-c267-48fb-8095-0e68a4d32830","block_type":"box","text":"The Investment Clock is in Stagflation, reflecting the high oil","page_number":35,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"5ca3e195-c58a-4302-bb38-de2b4d88cfcb","block_type":"box","text":"price and weaker business surveys amid the still uncertain US","page_number":35,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"4205a1e6-7742-4adc-9bcf-f05dc6e14bba","block_type":"box","text":"Iran conflict.","page_number":35,"box":{"x":522,"y":198,"width":81,"height":8}},{"id":"0fddedf8-5b02-47cf-ac28-9eefd9c9163c","block_type":"box","text":"Energy prices retreated last quarter on signs of a fragile","page_number":35,"box":{"x":522,"y":219,"width":420,"height":10}},{"id":"c7bd1aa6-44de-4c65-9710-9704ea8a0ae2","block_type":"box","text":"peace deal, but tensions have since risen again. Commodities","page_number":35,"box":{"x":522,"y":233,"width":420,"height":10}},{"id":"e76df03f-ae94-4212-a835-5655d41df8eb","block_type":"box","text":"remain a good hedge against a renewed flare up in geopolitical","page_number":35,"box":{"x":522,"y":247,"width":419,"height":10}},{"id":"f414d85d-f63d-4021-b25d-3fe9a1f9db32","block_type":"box","text":"tensions and spikes in inflation.","page_number":35,"box":{"x":521,"y":262,"width":210,"height":10}},{"id":"810e7209-2e65-426b-915d-5c24ea6f6460","block_type":"box","text":"The AI boom is raising corporate earnings of technology","page_number":35,"box":{"x":521,"y":283,"width":421,"height":10}},{"id":"bfe9187d-c833-42d8-bcd6-77877f69d071","block_type":"box","text":"stocks. Cycle-adjusted valuations are near dot com era levels.","page_number":35,"box":{"x":521,"y":297,"width":420,"height":10}},{"id":"fb2403e9-a1cf-4021-8407-38a154d3a90b","block_type":"box","text":"Innovation waves often get overblown in financial markets,","page_number":35,"box":{"x":522,"y":311,"width":419,"height":10}},{"id":"b81de3df-53d8-4c14-8693-0016972786ac","block_type":"box","text":"even when their long-term impact is transformative.","page_number":35,"box":{"x":521,"y":325,"width":345,"height":10}},{"id":"1b25d355-42ad-413b-b16f-083556af48c4","block_type":"box","text":"Tactically, we maintain a moderate overweight position in","page_number":35,"box":{"x":521,"y":346,"width":420,"height":10}},{"id":"8d5282d1-03e5-4edf-b082-ffdaa13bc7e1","block_type":"box","text":"equities and underweight position in government bonds.","page_number":35,"box":{"x":521,"y":361,"width":377,"height":10}},{"id":"f7f4ec54-5d0e-4728-b6c9-5961bc0de0fd","block_type":"box","text":"Please see our Investment Clock blog at www.rlam.com for our","page_number":35,"box":{"x":522,"y":382,"width":421,"height":10}},{"id":"0b3debda-b7bb-4a08-9ba1-b19afd0da45b","block_type":"box","text":"latest views.","page_number":35,"box":{"x":522,"y":396,"width":81,"height":8}},{"id":"6479579d-51c6-4997-9641-3330ad9be995","block_type":"box","text":"Trevor Greetham","page_number":35,"box":{"x":521,"y":438,"width":122,"height":8}},{"id":"30543a8e-35cd-42be-8921-9f13b439b04d","block_type":"box","text":"Fund Manager","page_number":35,"box":{"x":522,"y":452,"width":104,"height":10}},{"id":"ba5fac88-fbb3-4487-af40-0b8314fab284","block_type":"box","text":"Royal London Asset Management Limited","page_number":35,"box":{"x":522,"y":466,"width":303,"height":10}},{"id":"8967c98d-1ba7-4737-951f-6e7a6b830f74","block_type":"box","text":"30","page_number":35,"box":{"x":522,"y":481,"width":15,"height":7}},{"id":"568e6d82-40ed-4e75-a6ff-8edfd2497a32","block_type":"box","text":"June 2026","page_number":35,"box":{"x":542,"y":481,"width":74,"height":7}},{"id":"c713281e-f5e2-4b13-b219-9a829ad1de3b","block_type":"box","text":"Please note that this commentary is written as at end of the","page_number":35,"box":{"x":522,"y":515,"width":420,"height":10}},{"id":"5c4fafcd-3a31-48ae-bc73-d73aa93f34a6","block_type":"box","text":"review period. For insights into market events or positioning","page_number":35,"box":{"x":522,"y":528,"width":419,"height":10}},{"id":"875df272-e5e3-4411-a79a-6de5571a52ea","block_type":"box","text":"since then, please go to www.rlam.com.","page_number":35,"box":{"x":521,"y":541,"width":270,"height":10}},{"id":"bf07381e-ef4f-4773-81dc-c6f871d654ca","block_type":"box","text":"This report covers investment performance, activity and","page_number":35,"box":{"x":521,"y":557,"width":420,"height":10}},{"id":"9b6c47a9-11de-4b1c-88d0-1b8985859d3b","block_type":"box","text":"outlook. For a wider look at the Fund, our Annual Assessment","page_number":35,"box":{"x":521,"y":570,"width":421,"height":10}},{"id":"b94c7236-15e2-46b9-aaf2-b919b6ae39a9","block_type":"box","text":"of Value report is available at www.rlam.com.","page_number":35,"box":{"x":521,"y":583,"width":306,"height":10}},{"id":"44b4d245-e006-4200-9932-a806c0fd008f","block_type":"box","text":"For further help on some of the terms used, please see our","page_number":35,"box":{"x":522,"y":600,"width":421,"height":10}},{"id":"949b5729-3ad6-4214-86ea-a5402596d07f","block_type":"box","text":"glossary at www.rlam.com/uk/individual-investors/glossary.","page_number":35,"box":{"x":521,"y":613,"width":400,"height":10}},{"id":"a22eaeea-9c2c-4e34-ad73-e344aefe9bb8","block_type":"box","text":"The Task Force on Climate-related Financial Disclosures","page_number":35,"box":{"x":521,"y":629,"width":421,"height":8}},{"id":"cf813d4c-bd18-4490-855f-5d1a8fe3235f","block_type":"box","text":"(TCFD) Report can be found under the relevant Fund name","page_number":35,"box":{"x":522,"y":642,"width":420,"height":10}},{"id":"5286dfbd-0812-4089-94dc-30828b8d5a83","block_type":"box","text":"at","page_number":35,"box":{"x":521,"y":656,"width":13,"height":7}},{"id":"80b6133c-0b0f-48f0-b9da-b4c393095504","block_type":"box","text":"https://www.rlam.com/uk/individual-investors/funds","page_number":35,"box":{"x":545,"y":655,"width":392,"height":10}},{"id":"afa9ada8-dd91-4e5d-a689-b0c86d480d24","block_type":"box","text":".","page_number":35,"box":{"x":940,"y":662,"width":1,"height":1}},{"id":"95d234e9-8815-4706-8c21-61ac678fdea7","block_type":"box","text":"This report has been prepared in accordance with the","page_number":35,"box":{"x":521,"y":669,"width":421,"height":9}},{"id":"28c81093-626a-45ec-860b-8c6880443cfd","block_type":"box","text":"recommendations of the TCFD, which aims to help the","page_number":35,"box":{"x":522,"y":682,"width":420,"height":9}},{"id":"20b1739d-5db7-4af6-aa1d-b4c9392ab328","block_type":"box","text":"investment community build a more in-depth and consistent","page_number":35,"box":{"x":522,"y":695,"width":420,"height":10}},{"id":"784819ee-eb51-406e-81f1-272587667cf9","block_type":"box","text":"picture of the impact of climate change. A copy of Royal","page_number":35,"box":{"x":522,"y":708,"width":419,"height":10}},{"id":"24bb08f9-7bbb-47b2-a0ad-3bc737222cde","block_type":"box","text":"London Asset Management Limited’s annual TCFD Report","page_number":35,"box":{"x":522,"y":721,"width":420,"height":10}},{"id":"48a67152-a99c-42fb-bf45-4dfebc611e3a","block_type":"box","text":"can also be found on our website.","page_number":35,"box":{"x":522,"y":734,"width":227,"height":8}},{"id":"5071eade-933b-4788-a3ce-07e22ca0826c","block_type":"box","text":"The views expressed are the author’s own and do not","page_number":35,"box":{"x":521,"y":750,"width":421,"height":10}},{"id":"94bb9686-ced8-4696-9441-0bc7f8caa877","block_type":"box","text":"constitute investment advice and are not an indication","page_number":35,"box":{"x":522,"y":763,"width":419,"height":8}},{"id":"c2423234-04bc-49b6-9d23-8005d2861d9d","block_type":"box","text":"of future Fund performance. Portfolio holdings are","page_number":35,"box":{"x":521,"y":776,"width":421,"height":10}},{"id":"238529dd-18f2-490d-83f2-735b4a079b01","block_type":"box","text":"subject to change, for information only and are not","page_number":35,"box":{"x":521,"y":789,"width":421,"height":10}},{"id":"3e6f642f-e8b1-4fb4-903b-d4170a077d26","block_type":"box","text":"investment recommendations.","page_number":35,"box":{"x":522,"y":803,"width":202,"height":7}},{"id":"328c8e10-972a-41ee-85ae-11eab263c57c","block_type":"box","text":"Source: Royal London Asset Management Limited, unless","page_number":35,"box":{"x":522,"y":819,"width":392,"height":10}},{"id":"2fbcd0b6-36f6-4eff-a6ce-89542a460772","block_type":"box","text":"otherwise stated.","page_number":35,"box":{"x":521,"y":832,"width":115,"height":8}},{"id":"45955af4-df96-4f75-aea5-0b740cecf92d","block_type":"box","text":"Royal London GMAP Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":35,"box":{"x":514,"y":33,"width":399,"height":8}},{"id":"c441d9ab-12e4-4b20-a255-b0ec93ca6322","block_type":"box","text":"35","page_number":35,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"3fe4b33f-9d6e-454a-86b4-d17d8d146228","block_type":"box","text":"Class M Accumulation","page_number":36,"box":{"x":57,"y":151,"width":206,"height":9}},{"id":"c8f01a0a-9e4b-46f5-935b-54a038dadb34","block_type":"box","text":"Change in net assets","page_number":36,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"23ec1c75-a229-488b-bc7b-589fb7e09c7e","block_type":"box","text":"30/06/26","page_number":36,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"162847ef-4ef6-4369-8670-cd42289e5ed6","block_type":"box","text":"31/12/25","page_number":36,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"5ccadbc9-cde1-47c7-a15a-4562dd1b5911","block_type":"box","text":"31/12/24","page_number":36,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"bee26d3f-7bdd-4b7a-8cd9-64a7a4bc9e93","block_type":"box","text":"31/12/23","page_number":36,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"d16b324a-8766-4adf-a5d3-dd49451bb642","block_type":"box","text":"per share","page_number":36,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"8791668e-c4a0-462f-981f-9a0214ab79e5","block_type":"box","text":"(p)","page_number":36,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"e369a28d-3e67-46af-8426-f9f3b468b101","block_type":"box","text":"(p)","page_number":36,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"f054b5a0-dc5f-40c3-a087-60ad90518d08","block_type":"box","text":"(p)","page_number":36,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"c8238899-af04-4d19-ad59-3ad172c76ad4","block_type":"box","text":"(p)","page_number":36,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"a311686a-6c92-41bc-b593-8c10d7f515ac","block_type":"box","text":"Opening net asset","page_number":36,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"bbe4311c-6d1f-4533-b411-6bc16bcbb43c","block_type":"box","text":"value per share","page_number":36,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"c6fb8965-b3db-446e-9a8a-738b8fe859ca","block_type":"box","text":"189.26","page_number":36,"box":{"x":224,"y":205,"width":34,"height":6}},{"id":"d72f4cf6-1dd7-4df5-b249-d34291bfa876","block_type":"box","text":"171.89","page_number":36,"box":{"x":296,"y":205,"width":34,"height":6}},{"id":"229b47de-098d-43ec-bdc5-fff7e18edd70","block_type":"box","text":"156.07","page_number":36,"box":{"x":367,"y":205,"width":34,"height":6}},{"id":"15c4df7a-6a19-4bd9-aade-9dd22eb7814b","block_type":"box","text":"143.53","page_number":36,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"88593d8e-7948-4377-b7b5-f4e72c5a0864","block_type":"box","text":"Return before operating","page_number":36,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"dc03c9b7-7667-40b5-8bf0-a6ff0b5469de","block_type":"box","text":"charges*","page_number":36,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"1be62af0-dff1-462f-b546-7ae42802dbd6","block_type":"box","text":"16.86","page_number":36,"box":{"x":230,"y":232,"width":28,"height":6}},{"id":"102d58c5-28a0-4f8c-b972-11ebaf3466d4","block_type":"box","text":"18.44","page_number":36,"box":{"x":302,"y":232,"width":28,"height":6}},{"id":"abba8163-a2d7-42ed-af83-e865fe15f20c","block_type":"box","text":"16.82","page_number":36,"box":{"x":373,"y":232,"width":28,"height":6}},{"id":"b8a2b0d0-fe3f-4e5a-b0cb-be1928b3ba1c","block_type":"box","text":"13.43","page_number":36,"box":{"x":445,"y":232,"width":28,"height":6}},{"id":"d7e47a79-cf93-48b9-b0af-8ebe6b5b3be2","block_type":"box","text":"Operating charges","page_number":36,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"08305403-b5c3-4c94-a3e1-7c5f5dc6a45b","block_type":"box","text":"(0.59)","page_number":36,"box":{"x":232,"y":259,"width":31,"height":8}},{"id":"f27d28e3-6887-480f-8a8a-ac3e8add0bbe","block_type":"box","text":"(1.07)","page_number":36,"box":{"x":305,"y":259,"width":29,"height":8}},{"id":"21018984-9bce-4dbe-872b-00bcac24b0ec","block_type":"box","text":"(1.00)","page_number":36,"box":{"x":376,"y":259,"width":29,"height":8}},{"id":"21ccbd2c-afe6-4180-b45a-67c35338fa3d","block_type":"box","text":"(0.89)","page_number":36,"box":{"x":447,"y":259,"width":30,"height":8}},{"id":"89479062-a0af-411d-8f89-777ba8341aa1","block_type":"box","text":"Return after operating","page_number":36,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"dd0a573c-f89a-4eac-8d90-08580934a851","block_type":"box","text":"charges*","page_number":36,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"58023999-05b8-406e-b39b-25c071a9e498","block_type":"box","text":"16.27","page_number":36,"box":{"x":230,"y":276,"width":28,"height":6}},{"id":"a7daae96-fec6-4aff-8d43-8afcccee3c94","block_type":"box","text":"17.37","page_number":36,"box":{"x":303,"y":276,"width":27,"height":6}},{"id":"a530903e-3409-4815-833b-1bfbfcbf5fce","block_type":"box","text":"15.82","page_number":36,"box":{"x":373,"y":276,"width":28,"height":6}},{"id":"456fea65-f3fd-487e-b0de-92aa9fe6d162","block_type":"box","text":"12.54","page_number":36,"box":{"x":444,"y":276,"width":29,"height":6}},{"id":"a6c3f355-4acb-4993-93ff-2ad08abd9c16","block_type":"box","text":"Distributions on","page_number":36,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"d0ace874-05de-45d2-93a3-903c6eb8b0ef","block_type":"box","text":"accumulation shares","page_number":36,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"d9c4d23e-0f3a-4058-85ed-08d0d15eaeb0","block_type":"box","text":"(1.10)","page_number":36,"box":{"x":235,"y":303,"width":28,"height":8}},{"id":"f4abed29-a7a8-469f-938b-cc5fb01fa9a1","block_type":"box","text":"(3.06)","page_number":36,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"5f486771-e353-4dec-a0b6-32d3e5253423","block_type":"box","text":"(3.62)","page_number":36,"box":{"x":376,"y":303,"width":29,"height":8}},{"id":"f972d8a3-a2c8-4430-a35b-74d930297951","block_type":"box","text":"(3.30)","page_number":36,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"647d2c7d-7793-498c-8e49-da0c8dde8be3","block_type":"box","text":"Retained distributions","page_number":36,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"22edd967-321a-4ce7-a444-1abfe85ddcad","block_type":"box","text":"on accumulation shares","page_number":36,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"72f813a5-de9e-4848-a5c0-8f9165edd2cb","block_type":"box","text":"1.10","page_number":36,"box":{"x":239,"y":330,"width":19,"height":6}},{"id":"22610fdd-9eff-4774-ac5f-ff6f1c41629b","block_type":"box","text":"3.06","page_number":36,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"dac11db9-7325-43bd-aaae-cccfb5052a2a","block_type":"box","text":"3.62","page_number":36,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"8a7a6b4d-d989-48a3-926b-bee6f8a63ebe","block_type":"box","text":"3.30","page_number":36,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"41cbfbe2-a2be-4775-a77f-b8f0dbeb2b96","block_type":"box","text":"Closing net asset","page_number":36,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"2e38f0b7-02d5-4041-a250-f3871432c605","block_type":"box","text":"value per share","page_number":36,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"f5208e9f-7d70-415a-a2e1-62b88c8a60b7","block_type":"box","text":"205.53","page_number":36,"box":{"x":222,"y":357,"width":37,"height":6}},{"id":"dc8b1b77-d3a3-4763-8067-bd7cbf6f9bea","block_type":"box","text":"189.26","page_number":36,"box":{"x":294,"y":357,"width":36,"height":6}},{"id":"59164874-a834-4a81-ba87-8895c69145b9","block_type":"box","text":"171.89","page_number":36,"box":{"x":367,"y":357,"width":34,"height":6}},{"id":"21b4a38d-ae59-4c36-8fa1-1ee074695ab6","block_type":"box","text":"156.07","page_number":36,"box":{"x":438,"y":357,"width":35,"height":6}},{"id":"e9e9e1ed-c8ad-4904-99af-d8854ffadebd","block_type":"box","text":"* after direct transaction","page_number":36,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"55dad837-6915-43d8-83de-ed18f1923015","block_type":"box","text":"costs of:","page_number":36,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"aabb5435-1f98-4ad7-9254-50686072db2d","block_type":"box","text":"0.02","page_number":36,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"0b31fa70-3485-4e0c-8c50-0dfc200acb93","block_type":"box","text":"0.04","page_number":36,"box":{"x":307,"y":385,"width":23,"height":6}},{"id":"efc083a3-32ff-4c28-8a02-2c4e5eacb89b","block_type":"box","text":"0.06","page_number":36,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"a5856b7b-1139-486a-9c36-8c5a5749083c","block_type":"box","text":"0.05","page_number":36,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"08a808e9-20f2-424c-bc66-1418f87d2953","block_type":"box","text":"Performance","page_number":36,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"4c77679c-5905-4a58-ade5-4c4648b21cca","block_type":"box","text":"Return after charges","page_number":36,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"f6978d74-629b-4cf8-8f87-8c363e8f884a","block_type":"box","text":"8.60%","page_number":36,"box":{"x":225,"y":419,"width":33,"height":7}},{"id":"2264a57c-c778-4fd9-9e55-8794a58ca774","block_type":"box","text":"10.11%","page_number":36,"box":{"x":294,"y":419,"width":36,"height":7}},{"id":"ee6b50ea-4cf4-4088-8eff-2f3e7f727daf","block_type":"box","text":"10.14%","page_number":36,"box":{"x":365,"y":419,"width":36,"height":7}},{"id":"494650c4-5585-405a-8593-dda178e65962","block_type":"box","text":"8.74%","page_number":36,"box":{"x":441,"y":419,"width":32,"height":7}},{"id":"209096da-93cd-457b-8489-ba64c608d13c","block_type":"box","text":"Other information","page_number":36,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"feca8524-ab9b-4db5-8ac4-b7cd00c12b8a","block_type":"box","text":"Closing net asset value","page_number":36,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"827e4f89-2707-4f97-b37e-66b8b8d4dd79","block_type":"box","text":"(£’000)","page_number":36,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"8844ea88-4210-4b5b-8c5e-d799122a9ac9","block_type":"box","text":"322,738","page_number":36,"box":{"x":216,"y":447,"width":43,"height":7}},{"id":"7488afbb-5f54-49a4-ae70-fdc27adc91db","block_type":"box","text":"300,967","page_number":36,"box":{"x":287,"y":447,"width":43,"height":7}},{"id":"e7c0a8eb-c7a5-45ee-b9f4-1c76c7d182fd","block_type":"box","text":"268,066","page_number":36,"box":{"x":358,"y":447,"width":43,"height":7}},{"id":"20fb2e10-91d4-4d61-a6b4-411a258012a8","block_type":"box","text":"194,302","page_number":36,"box":{"x":431,"y":447,"width":42,"height":7}},{"id":"84ae77fb-f190-4614-b68f-16177acb4ce8","block_type":"box","text":"Closing number of","page_number":36,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"412dabd8-018b-4873-8aac-e659a56915f8","block_type":"box","text":"shares","page_number":36,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"ed161296-f8de-4b56-87c4-e6d15fe5ed90","block_type":"box","text":"157,029,768","page_number":36,"box":{"x":199,"y":466,"width":60,"height":7}},{"id":"abb67a35-2a57-437e-9ae1-625b49f7fc29","block_type":"box","text":"159,024,130","page_number":36,"box":{"x":271,"y":466,"width":59,"height":7}},{"id":"0b106ce4-e838-4655-be2b-40faa9c3da87","block_type":"box","text":"155,949,303","page_number":36,"box":{"x":340,"y":466,"width":61,"height":7}},{"id":"749552b9-3ea9-4529-87da-8a2d0e2e4ed3","block_type":"box","text":"124,493,892","page_number":36,"box":{"x":412,"y":466,"width":61,"height":7}},{"id":"d6edeb61-9b4b-4396-b8ea-fd6ec008103c","block_type":"box","text":"Operating charges","page_number":36,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"73284258-794d-4f4e-8112-7fcd20e9848c","block_type":"box","text":"0.60%","page_number":36,"box":{"x":225,"y":485,"width":33,"height":6}},{"id":"8bdaac14-47a4-4bc3-8815-dbcaa6ea83f3","block_type":"box","text":"0.60%","page_number":36,"box":{"x":297,"y":485,"width":33,"height":6}},{"id":"1eaebe94-5ac9-4cfe-b6b9-75eeb18bc75a","block_type":"box","text":"0.60%","page_number":36,"box":{"x":368,"y":485,"width":33,"height":6}},{"id":"77ecfaba-2e14-4d5e-88c4-e83e947d7e34","block_type":"box","text":"0.60%","page_number":36,"box":{"x":440,"y":485,"width":33,"height":6}},{"id":"1becde84-aa28-47d5-ab0f-faa8f9b5b800","block_type":"box","text":"Direct transaction costs","page_number":36,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"53ee0dde-2aba-4705-b4c4-85a342fb163c","block_type":"box","text":"0.01%","page_number":36,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"068b3b47-0069-4319-a0ed-8e847c0a2c51","block_type":"box","text":"0.02%","page_number":36,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"24342ce3-85d9-4de8-9606-34fc8b4042b2","block_type":"box","text":"0.04%","page_number":36,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"c2d07a67-9692-49f9-85fb-25fcf966e1d6","block_type":"box","text":"0.03%","page_number":36,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"04e9e1d9-532c-428a-afed-760d970f6478","block_type":"box","text":"Prices","page_number":36,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"67ccc713-d3d7-4ce1-96e1-65d769092b05","block_type":"box","text":"^","page_number":36,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"960f1347-efc5-422a-8f2b-1e5a81172bc1","block_type":"box","text":"Highest share price","page_number":36,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"fa5cd8e0-c2e5-4611-b02c-d0392d9d7e20","block_type":"box","text":"206.70","page_number":36,"box":{"x":223,"y":522,"width":35,"height":6}},{"id":"6143cad3-b531-4e59-ae1a-b64849841b04","block_type":"box","text":"190.70","page_number":36,"box":{"x":296,"y":522,"width":34,"height":6}},{"id":"b3ebe9c0-0f8d-4b6f-a804-0ec780b6a5d3","block_type":"box","text":"174.70","page_number":36,"box":{"x":368,"y":522,"width":33,"height":6}},{"id":"dd2f31bf-9831-432e-927a-3c6e68054d4b","block_type":"box","text":"156.60","page_number":36,"box":{"x":438,"y":522,"width":35,"height":6}},{"id":"ed4afd7d-d26b-4073-a234-0556b5df9fec","block_type":"box","text":"Lowest share price","page_number":36,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"600170f5-8429-47dc-bc3c-a4ff66024592","block_type":"box","text":"189.40","page_number":36,"box":{"x":224,"y":532,"width":34,"height":6}},{"id":"232f4e9b-aa0c-478f-a9a3-7e71216cbfa9","block_type":"box","text":"159.10","page_number":36,"box":{"x":297,"y":532,"width":33,"height":6}},{"id":"61035b35-8792-4456-8f3c-57d69adabec3","block_type":"box","text":"153.40","page_number":36,"box":{"x":366,"y":532,"width":35,"height":6}},{"id":"c67a57d2-0b90-4713-ae7b-67047d9df5bf","block_type":"box","text":"143.10","page_number":36,"box":{"x":439,"y":532,"width":34,"height":6}},{"id":"9c1d7ff2-c088-4897-b394-64ae3fd6dd09","block_type":"box","text":"Class M Income","page_number":36,"box":{"x":57,"y":560,"width":146,"height":9}},{"id":"5d2e6e87-7bb2-4f54-8b8d-87bad752ddc3","block_type":"box","text":"Change in net assets","page_number":36,"box":{"x":57,"y":586,"width":120,"height":8}},{"id":"9868adba-f938-4a65-94a0-e33257fdf61d","block_type":"box","text":"30/06/26","page_number":36,"box":{"x":212,"y":586,"width":47,"height":6}},{"id":"6d578a7a-3833-4203-a8dc-1f523546135b","block_type":"box","text":"31/12/25","page_number":36,"box":{"x":285,"y":586,"width":45,"height":6}},{"id":"68c250ae-c112-453e-9520-5c5a244bde7b","block_type":"box","text":"31/12/24","page_number":36,"box":{"x":356,"y":586,"width":46,"height":6}},{"id":"754e8f95-6e4b-49e8-825f-fe1cd9b63a6e","block_type":"box","text":"31/12/23","page_number":36,"box":{"x":428,"y":586,"width":45,"height":6}},{"id":"43836dcb-0815-4764-9a21-fae1e2796c11","block_type":"box","text":"per share","page_number":36,"box":{"x":57,"y":595,"width":54,"height":8}},{"id":"03c43159-e732-417b-be36-baf1f7cb6610","block_type":"box","text":"(p)","page_number":36,"box":{"x":245,"y":595,"width":13,"height":8}},{"id":"f0eeafa5-a83a-4dee-8d43-f4cda5c28c00","block_type":"box","text":"(p)","page_number":36,"box":{"x":316,"y":595,"width":14,"height":8}},{"id":"a6d8e9e4-a95d-47d5-8ddb-12b5f127fc76","block_type":"box","text":"(p)","page_number":36,"box":{"x":387,"y":595,"width":14,"height":8}},{"id":"8672d464-9216-436c-b34d-01fcb8aef576","block_type":"box","text":"(p)","page_number":36,"box":{"x":459,"y":595,"width":14,"height":8}},{"id":"38249874-f408-4a52-b51f-2a2dce82dbdb","block_type":"box","text":"Opening net asset","page_number":36,"box":{"x":57,"y":614,"width":97,"height":8}},{"id":"e865d2d3-0481-4e85-8f8e-63771e695c98","block_type":"box","text":"value per share","page_number":36,"box":{"x":57,"y":624,"width":82,"height":7}},{"id":"4072e79a-19de-48b2-83ca-2abdfc571492","block_type":"box","text":"160.95","page_number":36,"box":{"x":223,"y":614,"width":36,"height":6}},{"id":"12bc367f-8305-4e42-88da-b22df3aa28e1","block_type":"box","text":"148.63","page_number":36,"box":{"x":295,"y":614,"width":35,"height":6}},{"id":"4adf92c8-132c-422f-8c8c-1096681574c9","block_type":"box","text":"137.86","page_number":36,"box":{"x":368,"y":614,"width":33,"height":6}},{"id":"ac499916-5b70-4e3a-8ba4-e7590862a459","block_type":"box","text":"129.50","page_number":36,"box":{"x":438,"y":614,"width":35,"height":6}},{"id":"4ba97acd-5873-462c-b7ad-2ba724f2d78e","block_type":"box","text":"Return before operating","page_number":36,"box":{"x":58,"y":641,"width":125,"height":8}},{"id":"d12828a1-e4e1-4f0d-bdf2-11c81fc071dc","block_type":"box","text":"charges*","page_number":36,"box":{"x":57,"y":650,"width":47,"height":8}},{"id":"9eaf7375-16ff-485e-95e8-293dbfeb51a5","block_type":"box","text":"14.35","page_number":36,"box":{"x":231,"y":641,"width":28,"height":6}},{"id":"cd27244e-932f-4777-9267-0d4aeefa8965","block_type":"box","text":"15.88","page_number":36,"box":{"x":302,"y":641,"width":28,"height":6}},{"id":"200922b2-ea1b-46af-a097-d0b4b07e6840","block_type":"box","text":"14.83","page_number":36,"box":{"x":373,"y":641,"width":28,"height":6}},{"id":"35a6d3df-c363-48ef-8093-18cb9f51465d","block_type":"box","text":"12.08","page_number":36,"box":{"x":445,"y":641,"width":28,"height":6}},{"id":"5570ff25-bf0d-4971-979c-29e43510eb8e","block_type":"box","text":"Operating charges","page_number":36,"box":{"x":57,"y":668,"width":99,"height":8}},{"id":"96e7a749-b63b-406e-8546-fa3896ac0088","block_type":"box","text":"(0.50)","page_number":36,"box":{"x":232,"y":668,"width":31,"height":8}},{"id":"329c1fd1-e1cc-4e03-8ced-4db4f47b4924","block_type":"box","text":"(0.92)","page_number":36,"box":{"x":304,"y":668,"width":30,"height":8}},{"id":"011660d1-0c78-437c-b640-dcea5d171d79","block_type":"box","text":"(0.88)","page_number":36,"box":{"x":375,"y":668,"width":30,"height":8}},{"id":"26705b10-3ee4-43e1-aa62-133e24b29d0e","block_type":"box","text":"(0.80)","page_number":36,"box":{"x":447,"y":668,"width":30,"height":8}},{"id":"05c0cb2e-0218-4e24-8b5e-d21f56d8d4e7","block_type":"box","text":"Return after operating","page_number":36,"box":{"x":58,"y":685,"width":116,"height":8}},{"id":"fd4038a7-e6cb-48ad-918b-6481aa9404e2","block_type":"box","text":"charges*","page_number":36,"box":{"x":57,"y":695,"width":47,"height":8}},{"id":"5f266adb-4a5e-4eea-9168-7fba22054301","block_type":"box","text":"13.85","page_number":36,"box":{"x":230,"y":686,"width":29,"height":6}},{"id":"f011d7a2-f025-4e0c-a3f2-7b0df8606bc7","block_type":"box","text":"14.96","page_number":36,"box":{"x":302,"y":686,"width":28,"height":6}},{"id":"a4b214c5-262e-4663-a32c-fe5a55273dcc","block_type":"box","text":"13.95","page_number":36,"box":{"x":373,"y":686,"width":28,"height":6}},{"id":"3cbf13dd-8042-4ba3-ab4e-bc9247e5cd1a","block_type":"box","text":"11.28","page_number":36,"box":{"x":446,"y":686,"width":27,"height":6}},{"id":"7ed2f222-3251-4af6-ba56-1697a7c2f01c","block_type":"box","text":"Distributions on income","page_number":36,"box":{"x":58,"y":713,"width":124,"height":6}},{"id":"5f558b65-80ca-4d82-aed6-0ed664f44b1c","block_type":"box","text":"shares","page_number":36,"box":{"x":57,"y":722,"width":35,"height":6}},{"id":"7f7a4abd-498d-4dc6-9dfd-1b5b3d8b1118","block_type":"box","text":"(0.93)","page_number":36,"box":{"x":233,"y":712,"width":30,"height":8}},{"id":"84f37bd8-89bb-4558-95ad-15e85346880b","block_type":"box","text":"(2.64)","page_number":36,"box":{"x":304,"y":712,"width":30,"height":8}},{"id":"ec853192-eb82-4d2d-b51e-a3e7a5c1b22a","block_type":"box","text":"(3.18)","page_number":36,"box":{"x":377,"y":712,"width":28,"height":8}},{"id":"82c5b89b-acdc-408a-b458-9822375e23fc","block_type":"box","text":"(2.92)","page_number":36,"box":{"x":447,"y":712,"width":30,"height":8}},{"id":"a97ff0e1-9dae-44a3-baad-dcdeb860a4b7","block_type":"box","text":"Closing net asset","page_number":36,"box":{"x":57,"y":739,"width":100,"height":8}},{"id":"1dcd4c7e-424d-49bc-904a-089cdd6148bc","block_type":"box","text":"value per share","page_number":36,"box":{"x":57,"y":749,"width":88,"height":8}},{"id":"7a634e5a-d27c-4ac6-8037-484413f672bf","block_type":"box","text":"173.87","page_number":36,"box":{"x":224,"y":740,"width":35,"height":6}},{"id":"cd5d34fc-3746-4d66-a117-6fdc43615931","block_type":"box","text":"160.95","page_number":36,"box":{"x":295,"y":740,"width":35,"height":6}},{"id":"2dc44cbc-5b0e-40c9-b098-3d7921df661e","block_type":"box","text":"148.63","page_number":36,"box":{"x":366,"y":740,"width":35,"height":6}},{"id":"18a0431d-ee3b-4638-8196-aeccf3e2051d","block_type":"box","text":"137.86","page_number":36,"box":{"x":439,"y":740,"width":34,"height":6}},{"id":"7c21d1bf-30b4-474b-8ecc-e28b4c96c8ff","block_type":"box","text":"* after direct transaction","page_number":36,"box":{"x":57,"y":767,"width":127,"height":6}},{"id":"70aaff18-a71d-453b-851e-669b8a2af05c","block_type":"box","text":"costs of:","page_number":36,"box":{"x":57,"y":777,"width":44,"height":6}},{"id":"140067b0-591d-429a-a9b5-3ace144cec28","block_type":"box","text":"0.02","page_number":36,"box":{"x":236,"y":767,"width":22,"height":6}},{"id":"a907b3ef-a4b5-4263-9f22-4f7ea1ad4ab9","block_type":"box","text":"0.03","page_number":36,"box":{"x":308,"y":767,"width":22,"height":6}},{"id":"7ddc5b59-8d32-481c-8255-bf981ce6944a","block_type":"box","text":"0.05","page_number":36,"box":{"x":379,"y":767,"width":22,"height":6}},{"id":"67d3fe6a-5587-4ee2-9f27-f2220d092355","block_type":"box","text":"0.04","page_number":36,"box":{"x":450,"y":767,"width":23,"height":6}},{"id":"8a1b1d86-33fc-4e63-9524-1d0ae2bc31b1","block_type":"box","text":"Performance","page_number":36,"box":{"x":58,"y":792,"width":73,"height":6}},{"id":"6d56f9ef-3a09-4855-86f1-c8b94faf488e","block_type":"box","text":"Return after charges","page_number":36,"box":{"x":58,"y":801,"width":108,"height":8}},{"id":"00ad8e6f-addc-4f58-a3cc-1a7c64510198","block_type":"box","text":"8.61%","page_number":36,"box":{"x":226,"y":801,"width":32,"height":7}},{"id":"763f4b93-060e-423a-9ba4-c1ea0054d138","block_type":"box","text":"10.06%","page_number":36,"box":{"x":291,"y":801,"width":39,"height":7}},{"id":"d37e5e04-021d-4634-9a15-f4e7db96748e","block_type":"box","text":"10.12%","page_number":36,"box":{"x":364,"y":801,"width":37,"height":7}},{"id":"73b477e7-c7cf-482b-acb5-cc65d295f08d","block_type":"box","text":"8.71%","page_number":36,"box":{"x":441,"y":801,"width":32,"height":7}},{"id":"d20facee-d8f7-455b-8461-ae8f9b8f5fba","block_type":"box","text":"Other information","page_number":36,"box":{"x":57,"y":819,"width":102,"height":7}},{"id":"7ef946e0-7f9a-403d-ba9f-8319fc0a9611","block_type":"box","text":"Closing net asset value","page_number":36,"box":{"x":57,"y":829,"width":123,"height":8}},{"id":"772ce203-f7bc-4309-a29d-053da12721e2","block_type":"box","text":"(£’000)","page_number":36,"box":{"x":57,"y":838,"width":37,"height":8}},{"id":"226cd246-89cf-4fe2-9708-39626a2222c0","block_type":"box","text":"19,023","page_number":36,"box":{"x":224,"y":829,"width":34,"height":7}},{"id":"4eb4c2df-72a2-4c57-afc8-566604e79e37","block_type":"box","text":"17,593","page_number":36,"box":{"x":297,"y":829,"width":33,"height":7}},{"id":"20ba4b27-e1c1-4e4e-9330-58bc1ae363bf","block_type":"box","text":"13,180","page_number":36,"box":{"x":368,"y":829,"width":33,"height":7}},{"id":"56b87506-6e52-4e0f-a71e-49173056bb65","block_type":"box","text":"10,338","page_number":36,"box":{"x":438,"y":829,"width":35,"height":7}},{"id":"16b8cf4a-fe59-4f24-bf54-c8563c4042be","block_type":"box","text":"Closing number of","page_number":36,"box":{"x":57,"y":848,"width":98,"height":8}},{"id":"07a2202a-6075-41b0-8fac-783132e2db15","block_type":"box","text":"shares","page_number":36,"box":{"x":57,"y":857,"width":35,"height":6}},{"id":"4620a07e-b860-47f8-9181-66348a32dbd6","block_type":"box","text":"10,940,964","page_number":36,"box":{"x":203,"y":848,"width":55,"height":7}},{"id":"a80c466c-3664-4c81-bebe-683eb8736e14","block_type":"box","text":"10,930,975","page_number":36,"box":{"x":276,"y":848,"width":54,"height":7}},{"id":"b435d6ad-9c5a-4cbd-8860-e4c89fe2493e","block_type":"box","text":"8,867,870","page_number":36,"box":{"x":353,"y":848,"width":48,"height":7}},{"id":"93b9a438-5a0c-43c9-a59f-396d33a311cb","block_type":"box","text":"7,499,448","page_number":36,"box":{"x":424,"y":848,"width":49,"height":7}},{"id":"543d6dfd-4838-45f6-81a2-261b1b1dc508","block_type":"box","text":"Operating charges","page_number":36,"box":{"x":57,"y":867,"width":99,"height":8}},{"id":"8cd6dd8a-270c-4cad-997b-e73393368638","block_type":"box","text":"0.60%","page_number":36,"box":{"x":225,"y":867,"width":33,"height":6}},{"id":"499bf26a-7ac2-4bb7-8a61-252ade3bff00","block_type":"box","text":"0.60%","page_number":36,"box":{"x":297,"y":867,"width":33,"height":6}},{"id":"f0816452-ad26-4535-8fb9-7813db0a605e","block_type":"box","text":"0.60%","page_number":36,"box":{"x":368,"y":867,"width":33,"height":6}},{"id":"2f168b81-a1b3-48aa-8b31-67f393df2fc0","block_type":"box","text":"0.60%","page_number":36,"box":{"x":440,"y":867,"width":33,"height":6}},{"id":"915d18f0-780e-4669-9d1e-2e64b7138525","block_type":"box","text":"Direct transaction costs","page_number":36,"box":{"x":58,"y":877,"width":125,"height":6}},{"id":"d09dde93-c429-4280-8d69-d47d1a67edda","block_type":"box","text":"0.01%","page_number":36,"box":{"x":227,"y":877,"width":31,"height":6}},{"id":"db50bd01-90f0-4c8d-b61a-34a78c536aef","block_type":"box","text":"0.02%","page_number":36,"box":{"x":297,"y":877,"width":33,"height":6}},{"id":"dfbef1ff-b4bb-41fa-b78b-61fe2b4f2ede","block_type":"box","text":"0.04%","page_number":36,"box":{"x":369,"y":877,"width":32,"height":6}},{"id":"cbe01404-7b0d-4be9-8fa4-671f59ff4724","block_type":"box","text":"0.03%","page_number":36,"box":{"x":440,"y":877,"width":33,"height":6}},{"id":"f1fd0d5d-4fcc-4734-9665-fb2adb302773","block_type":"box","text":"Prices","page_number":36,"box":{"x":58,"y":895,"width":35,"height":6}},{"id":"d18bac96-56fa-4f9e-9dac-3303ef35cde1","block_type":"box","text":"^","page_number":36,"box":{"x":94,"y":895,"width":3,"height":2}},{"id":"bd940d65-eca2-4a4b-b199-83427dc7e295","block_type":"box","text":"Highest share price","page_number":36,"box":{"x":58,"y":904,"width":102,"height":8}},{"id":"f7dd09c1-b740-489a-ade8-8f240fecae8a","block_type":"box","text":"175.80","page_number":36,"box":{"x":224,"y":904,"width":34,"height":6}},{"id":"b7c44979-e256-4030-bc9a-609e54a8fea1","block_type":"box","text":"164.00","page_number":36,"box":{"x":295,"y":904,"width":35,"height":6}},{"id":"434620c6-2696-4a81-bdad-ccdabd9fd1eb","block_type":"box","text":"153.30","page_number":36,"box":{"x":366,"y":904,"width":35,"height":6}},{"id":"696704a1-837b-485c-8a49-36c5da7e703a","block_type":"box","text":"140.50","page_number":36,"box":{"x":438,"y":904,"width":35,"height":6}},{"id":"b3a9ee7b-95ea-4113-ac09-9aa21c6bdb9a","block_type":"box","text":"Lowest share price","page_number":36,"box":{"x":58,"y":914,"width":99,"height":8}},{"id":"488b9052-3bc8-46cb-bdbf-6135ea99948f","block_type":"box","text":"161.10","page_number":36,"box":{"x":226,"y":914,"width":32,"height":6}},{"id":"e7798dc4-8ee9-46ac-a7fc-d3cd9906c850","block_type":"box","text":"137.60","page_number":36,"box":{"x":297,"y":914,"width":33,"height":6}},{"id":"1096adfc-7cb1-49ef-826a-0b407902e1e9","block_type":"box","text":"135.50","page_number":36,"box":{"x":366,"y":914,"width":35,"height":6}},{"id":"2483dd4a-9c0b-4c01-8800-5ecf6cc0f172","block_type":"box","text":"129.10","page_number":36,"box":{"x":440,"y":914,"width":33,"height":6}},{"id":"dd7f0087-1c8a-4174-9342-3732ccf7f6f4","block_type":"box","text":"Class P Accumulation","page_number":36,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"bd66fa90-4d36-4afc-935d-1b152d5af6de","block_type":"box","text":"Change in net assets","page_number":36,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"8ba519b8-300b-4be2-bb24-498ec57f99b4","block_type":"box","text":"30/06/26","page_number":36,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"cb0d419b-0b5e-44f9-b3f8-fa3631b6bb90","block_type":"box","text":"31/12/25","page_number":36,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"00487ba2-deeb-40d8-8b06-865fd1a7d6a5","block_type":"box","text":"31/12/24","page_number":36,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"b2abae76-9ab8-4673-8eed-6ee781503575","block_type":"box","text":"31/12/23","page_number":36,"box":{"x":892,"y":177,"width":45,"height":6}},{"id":"b62e91b2-ba5b-4819-abff-133b2d61b068","block_type":"box","text":"per share","page_number":36,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"a52e8c37-2c61-4ba7-ac20-f2a1c8ce63ba","block_type":"box","text":"(p)","page_number":36,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"0ed046a2-e42d-499b-8f35-4d525f50202b","block_type":"box","text":"(p)","page_number":36,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"3423d16e-dfae-4da8-bd59-9861aabcef53","block_type":"box","text":"(p)","page_number":36,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"43846d5f-0cef-4a25-9ce6-53cc89b8bc93","block_type":"box","text":"(p)","page_number":36,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"189e8bda-17b2-448f-b9a6-4e8e6e6125b1","block_type":"box","text":"Opening net asset","page_number":36,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"06dd9b67-3039-4096-a6c1-e998640e9889","block_type":"box","text":"value per share","page_number":36,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"c1c0be30-5cab-4327-9000-680b0bf52183","block_type":"box","text":"148.84","page_number":36,"box":{"x":688,"y":205,"width":35,"height":6}},{"id":"668fc2aa-e158-4ec0-b91c-6e2acff1d690","block_type":"box","text":"135.10","page_number":36,"box":{"x":761,"y":205,"width":33,"height":6}},{"id":"f04517ca-e89d-43f2-8df6-777c5081f4de","block_type":"box","text":"122.62","page_number":36,"box":{"x":831,"y":205,"width":35,"height":6}},{"id":"a530676f-21d7-4081-928d-d9b5aa8391ea","block_type":"box","text":"112.73","page_number":36,"box":{"x":904,"y":205,"width":33,"height":6}},{"id":"ea8491ec-076d-4427-91ca-235ebb2b2dce","block_type":"box","text":"Return before operating","page_number":36,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"d5763c11-a2ac-4658-aaa4-c70432e0b432","block_type":"box","text":"charges*","page_number":36,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"4dd289cc-39fc-4726-8ed0-d09a473db172","block_type":"box","text":"13.25","page_number":36,"box":{"x":695,"y":232,"width":28,"height":6}},{"id":"0d40a044-a97c-41bd-aac3-742638943b1e","block_type":"box","text":"14.50","page_number":36,"box":{"x":766,"y":232,"width":28,"height":6}},{"id":"6b951922-39ef-4ef5-be2b-c0d42ba7b075","block_type":"box","text":"13.18","page_number":36,"box":{"x":839,"y":232,"width":27,"height":6}},{"id":"15919794-4a74-48da-a3df-c1cda19c60fb","block_type":"box","text":"10.53","page_number":36,"box":{"x":909,"y":232,"width":28,"height":6}},{"id":"75cec20b-a70f-4e1e-930e-a5b776696d46","block_type":"box","text":"Operating charges","page_number":36,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"1f29d6ce-959a-47f9-8218-cce19576ba8f","block_type":"box","text":"(0.42)","page_number":36,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"db3534ab-a6b1-4e14-a262-d07c8902b4e6","block_type":"box","text":"(0.76)","page_number":36,"box":{"x":769,"y":259,"width":29,"height":8}},{"id":"3144bf29-2337-41d6-98bd-0250b708b296","block_type":"box","text":"(0.70)","page_number":36,"box":{"x":840,"y":259,"width":30,"height":8}},{"id":"09f175ef-3302-49b3-aaba-1285117aa3cd","block_type":"box","text":"(0.64)","page_number":36,"box":{"x":911,"y":259,"width":30,"height":8}},{"id":"a3439eff-6503-4b56-b936-61f20e05ecc2","block_type":"box","text":"Return after operating","page_number":36,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"3a310068-1039-4a21-a47b-2f8754a2181f","block_type":"box","text":"charges*","page_number":36,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"b721a7b0-8129-4d94-9370-41da1aae0102","block_type":"box","text":"12.83","page_number":36,"box":{"x":695,"y":276,"width":28,"height":6}},{"id":"90abb875-ead3-4367-ac26-795fe413d44e","block_type":"box","text":"13.74","page_number":36,"box":{"x":767,"y":276,"width":27,"height":6}},{"id":"dd8fdb19-d330-44e0-9324-691eac0338a5","block_type":"box","text":"12.48","page_number":36,"box":{"x":838,"y":276,"width":28,"height":6}},{"id":"e09d880f-3df8-4f51-b59c-d503ca46c77a","block_type":"box","text":"9.89","page_number":36,"box":{"x":915,"y":276,"width":22,"height":6}},{"id":"77abeb91-4e3c-4273-93ac-61a299d05b2d","block_type":"box","text":"Distributions on","page_number":36,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"488d8e46-6422-4a6e-9889-5e91b1bf747f","block_type":"box","text":"accumulation shares","page_number":36,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"914aaea2-4e5f-44a1-a07f-a345e5d48646","block_type":"box","text":"(0.90)","page_number":36,"box":{"x":697,"y":303,"width":30,"height":8}},{"id":"96da3253-56b3-440c-9f60-0ca777f8cc8c","block_type":"box","text":"(2.46)","page_number":36,"box":{"x":768,"y":303,"width":30,"height":8}},{"id":"2b1bc365-1c24-4d6d-b9e4-3ef968458ef4","block_type":"box","text":"(0.98)","page_number":36,"box":{"x":840,"y":303,"width":30,"height":8}},{"id":"8a4a1ba5-c132-4a3e-ac31-3ac03253488f","block_type":"box","text":"(2.62)","page_number":36,"box":{"x":911,"y":303,"width":30,"height":8}},{"id":"7fe1fa4d-72ec-4f91-af7a-42bf114a9969","block_type":"box","text":"Retained distributions","page_number":36,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"9f434d93-67f6-4b3b-90a2-f5c1f1d33eb5","block_type":"box","text":"on accumulation shares","page_number":36,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"bcc4ed28-1d36-4e10-b78e-b70cea3521ba","block_type":"box","text":"0.90","page_number":36,"box":{"x":700,"y":330,"width":23,"height":6}},{"id":"cd05fb9e-8340-4ccb-a10f-42733c1fba0f","block_type":"box","text":"2.46","page_number":36,"box":{"x":771,"y":330,"width":23,"height":6}},{"id":"24174e1d-4066-4424-81f4-ac3f7109922a","block_type":"box","text":"0.98","page_number":36,"box":{"x":843,"y":330,"width":23,"height":6}},{"id":"f304196b-ad2c-4a73-abd3-03f2f990852f","block_type":"box","text":"2.62","page_number":36,"box":{"x":914,"y":330,"width":23,"height":6}},{"id":"882a9dc8-2b09-4448-b19e-16b4742f50eb","block_type":"box","text":"Closing net asset","page_number":36,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"66c2b104-cb75-41c3-b365-216a8425dfde","block_type":"box","text":"value per share","page_number":36,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"b66b889a-e388-4afd-a4cd-374b303802f3","block_type":"box","text":"161.67","page_number":36,"box":{"x":688,"y":357,"width":35,"height":6}},{"id":"77e65d5b-c510-440b-b03c-5f4f6056fb61","block_type":"box","text":"148.84","page_number":36,"box":{"x":759,"y":357,"width":35,"height":6}},{"id":"3a7a3a6d-0d77-4e19-b20e-d48f6540e18a","block_type":"box","text":"135.10","page_number":36,"box":{"x":832,"y":357,"width":34,"height":6}},{"id":"d3d631fd-aef8-4f7c-9a90-edcb417155ab","block_type":"box","text":"122.62","page_number":36,"box":{"x":902,"y":357,"width":35,"height":6}},{"id":"30b52713-c0c3-4118-a477-a66619706c1f","block_type":"box","text":"* after direct transaction","page_number":36,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"9d371574-2b61-4ac7-93a4-64e8d2753032","block_type":"box","text":"costs of:","page_number":36,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"c8a99e43-2b6d-47a3-a7f5-708d88c89bd8","block_type":"box","text":"0.02","page_number":36,"box":{"x":700,"y":385,"width":23,"height":6}},{"id":"eb11f89a-f060-4ecd-982c-02f2adbebc30","block_type":"box","text":"0.03","page_number":36,"box":{"x":772,"y":385,"width":22,"height":6}},{"id":"2f4436cf-05d5-4801-a49d-1c06090cfd17","block_type":"box","text":"0.05","page_number":36,"box":{"x":843,"y":385,"width":23,"height":6}},{"id":"d3e6a120-a16c-457c-aae1-fc6465582e43","block_type":"box","text":"0.04","page_number":36,"box":{"x":915,"y":385,"width":22,"height":6}},{"id":"03fc0e98-d69e-4f18-812e-a60e973d58e9","block_type":"box","text":"Performance","page_number":36,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"90428aa0-4c1a-4622-ae10-0f4f3fc1b1f3","block_type":"box","text":"Return after charges","page_number":36,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"91a7b2a0-2a0e-459e-b3d6-acae7656f1d7","block_type":"box","text":"8.62%","page_number":36,"box":{"x":690,"y":419,"width":33,"height":7}},{"id":"09acf8ff-1d5b-4f1b-a114-e2c05bb01df1","block_type":"box","text":"10.17%","page_number":36,"box":{"x":757,"y":419,"width":37,"height":7}},{"id":"fc7a2b83-879c-493d-88a5-fb3850757893","block_type":"box","text":"10.18%","page_number":36,"box":{"x":829,"y":419,"width":36,"height":7}},{"id":"e8ef200a-5361-473d-96d6-7db406b8da08","block_type":"box","text":"8.77%","page_number":36,"box":{"x":904,"y":419,"width":33,"height":7}},{"id":"9fffed1e-010a-407c-8da3-94ceb2d8be31","block_type":"box","text":"Other information","page_number":36,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"4f649919-a83e-4d64-a362-b9b9f1eb82e3","block_type":"box","text":"Closing net asset value","page_number":36,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"e2017070-3bf2-4cca-91bd-d3301781f799","block_type":"box","text":"(£’000)","page_number":36,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"339d47ad-77be-4de5-b88f-e14a7b475772","block_type":"box","text":"195","page_number":36,"box":{"x":705,"y":447,"width":18,"height":6}},{"id":"583753d8-e3f5-4d2a-8137-50a0506b5cad","block_type":"box","text":"184","page_number":36,"box":{"x":776,"y":447,"width":18,"height":6}},{"id":"19bfdf78-14f7-4d2d-a969-223db1bdf79f","block_type":"box","text":"590","page_number":36,"box":{"x":846,"y":447,"width":20,"height":6}},{"id":"8a272fa7-a04a-4572-8d8d-279557cf7e29","block_type":"box","text":"7,244","page_number":36,"box":{"x":909,"y":447,"width":28,"height":7}},{"id":"f5829e45-0a5e-43cc-a2bb-248f9e1ba83e","block_type":"box","text":"Closing number of","page_number":36,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"2ff1462f-893f-4a6d-9a19-453e7f07d156","block_type":"box","text":"shares","page_number":36,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"2b7e1b69-b094-4ce5-8ab2-8f42ecc62a2b","block_type":"box","text":"120,953","page_number":36,"box":{"x":684,"y":466,"width":39,"height":7}},{"id":"0ec4fdbf-6fa0-4fa6-88f8-9aefe4770feb","block_type":"box","text":"123,515","page_number":36,"box":{"x":757,"y":466,"width":37,"height":7}},{"id":"f6b1cbc6-8bc1-4f0d-8666-1010e58ac7eb","block_type":"box","text":"436,358","page_number":36,"box":{"x":825,"y":466,"width":41,"height":7}},{"id":"7bd81da5-07e8-426b-9155-b6c71da87e86","block_type":"box","text":"5,907,337","page_number":36,"box":{"x":889,"y":466,"width":48,"height":7}},{"id":"025f2e19-f077-4e17-ac98-c9912cd6703f","block_type":"box","text":"Operating charges","page_number":36,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"6fa37f2b-36f5-49ea-a541-d9249712d02f","block_type":"box","text":"0.55%","page_number":36,"box":{"x":690,"y":485,"width":33,"height":6}},{"id":"36dd6f7c-166e-46dc-903c-c6b5d0ccc126","block_type":"box","text":"0.55%","page_number":36,"box":{"x":761,"y":485,"width":33,"height":6}},{"id":"ac198032-3ea7-48de-992d-76e0d2843e45","block_type":"box","text":"0.55%","page_number":36,"box":{"x":833,"y":485,"width":32,"height":6}},{"id":"23fbea5d-99fb-4918-a629-0bb9815dc583","block_type":"box","text":"0.55%","page_number":36,"box":{"x":904,"y":485,"width":33,"height":6}},{"id":"1fd78113-6cf6-4ac6-84fb-6b1a55552550","block_type":"box","text":"Direct transaction costs","page_number":36,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"b7621873-d262-4d64-af18-0548e3cce9ea","block_type":"box","text":"0.01%","page_number":36,"box":{"x":691,"y":495,"width":32,"height":6}},{"id":"b34a2399-b9e3-4702-8da8-e97171e8030a","block_type":"box","text":"0.02%","page_number":36,"box":{"x":761,"y":495,"width":33,"height":6}},{"id":"8df92be1-c2ec-49f5-88f4-69da2f80f6a3","block_type":"box","text":"0.04%","page_number":36,"box":{"x":833,"y":495,"width":32,"height":6}},{"id":"d31a6adf-88ab-41ba-b4e7-120c12e2f95f","block_type":"box","text":"0.03%","page_number":36,"box":{"x":904,"y":495,"width":33,"height":6}},{"id":"835629a7-442b-4499-b15b-f16f3c5ec81a","block_type":"box","text":"Prices","page_number":36,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"40fc56e3-6459-46ed-9662-b685d0f1180a","block_type":"box","text":"^","page_number":36,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"fd77a184-6a8f-44fb-b262-33e627183243","block_type":"box","text":"Highest share price","page_number":36,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"e5239e51-e6da-4123-9ce0-77ecf4acc9a8","block_type":"box","text":"162.60","page_number":36,"box":{"x":688,"y":522,"width":35,"height":6}},{"id":"2099e190-71ac-4c0d-ae8e-c02032b2f522","block_type":"box","text":"150.00","page_number":36,"box":{"x":759,"y":522,"width":35,"height":6}},{"id":"3685ef3e-0cdc-4094-bb8c-e63d8496a841","block_type":"box","text":"137.30","page_number":36,"box":{"x":832,"y":522,"width":34,"height":6}},{"id":"e327ac27-b0c9-470a-b13a-664bcb72d6c3","block_type":"box","text":"123.10","page_number":36,"box":{"x":904,"y":522,"width":33,"height":6}},{"id":"2605aa1a-f953-49c4-aa99-f169a776a077","block_type":"box","text":"Lowest share price","page_number":36,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"62be27ab-b6d4-4fd8-8826-fae00e4e5a15","block_type":"box","text":"149.00","page_number":36,"box":{"x":688,"y":532,"width":35,"height":6}},{"id":"0d7191c9-a573-49d1-8620-1333dd0051b7","block_type":"box","text":"125.10","page_number":36,"box":{"x":761,"y":532,"width":33,"height":6}},{"id":"cce23e5d-e738-431c-9545-fb91381e982a","block_type":"box","text":"120.50","page_number":36,"box":{"x":831,"y":532,"width":35,"height":6}},{"id":"d63bb634-0b49-4dfc-baa9-774d198d1be5","block_type":"box","text":"112.40","page_number":36,"box":{"x":903,"y":532,"width":34,"height":6}},{"id":"aad11fde-720d-40de-895d-386ad38067c5","block_type":"box","text":"Comparative Tables","page_number":36,"box":{"x":56,"y":94,"width":237,"height":14}},{"id":"801a6fc2-b3de-4f1e-a049-4430b479945f","block_type":"box","text":"Royal London GMAP Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":36,"box":{"x":514,"y":33,"width":399,"height":8}},{"id":"e27f3b78-f7ae-45e3-9035-71e22a92bbfd","block_type":"box","text":"36","page_number":36,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"e1c5498d-9b25-4427-8a43-f72792f48ce1","block_type":"box","text":"Class R Accumulation","page_number":37,"box":{"x":57,"y":151,"width":203,"height":9}},{"id":"2878edf5-ce79-4321-a4c1-41d3463dc60b","block_type":"box","text":"Change in net assets","page_number":37,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"ab930237-069f-48ed-b1aa-ef93da162758","block_type":"box","text":"30/06/26","page_number":37,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"9b906f09-992d-4b8f-8017-b240dda4b2ec","block_type":"box","text":"31/12/25","page_number":37,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"0d7e8b08-dc2b-44c1-a256-569e50936ea2","block_type":"box","text":"31/12/24","page_number":37,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"8108fed9-da4c-4024-b1c8-d78c3f71445d","block_type":"box","text":"31/12/23","page_number":37,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"55a16813-1945-45d2-aee8-f059d86503fa","block_type":"box","text":"per share","page_number":37,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"d899595f-4595-4f17-be91-f954216cdacb","block_type":"box","text":"(p)","page_number":37,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"cc9a7b3c-a918-4783-8dac-bbb2b6174538","block_type":"box","text":"(p)","page_number":37,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"c0631a28-597f-4eda-b573-b3d43a533853","block_type":"box","text":"(p)","page_number":37,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"7855a84a-87bb-4968-81a5-51ffef281315","block_type":"box","text":"(p)","page_number":37,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"40a6d389-2561-45bd-82cc-b5f6e946ef68","block_type":"box","text":"Opening net asset","page_number":37,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"5ff7d377-a626-4f99-8d3f-ddadd3515191","block_type":"box","text":"value per share","page_number":37,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"60655669-a1ea-4f4e-be5c-fbcab81dd0af","block_type":"box","text":"161.60","page_number":37,"box":{"x":224,"y":205,"width":34,"height":6}},{"id":"244cc506-f5c5-4eef-abe8-2ec9a99e45c4","block_type":"box","text":"146.22","page_number":37,"box":{"x":295,"y":205,"width":35,"height":6}},{"id":"6fea829f-87dc-47ec-844d-d15c0d25adc3","block_type":"box","text":"132.28","page_number":37,"box":{"x":367,"y":205,"width":34,"height":6}},{"id":"67e7f94e-6f76-4678-9ce1-2a602133dae1","block_type":"box","text":"121.22","page_number":37,"box":{"x":439,"y":205,"width":34,"height":6}},{"id":"919bc5e8-fcae-468b-9f71-1b8b96df79c8","block_type":"box","text":"Return before operating","page_number":37,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"c80da6af-eeb6-45d2-a929-aee4c3ba6d6b","block_type":"box","text":"charges*","page_number":37,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"1a2028b6-4dae-49b2-84b8-6240ebe753c3","block_type":"box","text":"14.32","page_number":37,"box":{"x":231,"y":232,"width":27,"height":6}},{"id":"d892ae46-1c35-4523-b438-b5959f259e76","block_type":"box","text":"15.56","page_number":37,"box":{"x":302,"y":232,"width":28,"height":6}},{"id":"ba8cf7e2-ba0d-467c-aea0-b34497527baa","block_type":"box","text":"14.14","page_number":37,"box":{"x":375,"y":232,"width":26,"height":6}},{"id":"ac046d7b-13c4-46b2-aba0-4f639f4596e7","block_type":"box","text":"11.25","page_number":37,"box":{"x":446,"y":232,"width":27,"height":6}},{"id":"0ce333ba-65ca-4531-9fea-7f0fb7f5d091","block_type":"box","text":"Operating charges","page_number":37,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"42a4d871-fa53-4224-868c-b25fa8bbf7dc","block_type":"box","text":"(0.10)","page_number":37,"box":{"x":234,"y":259,"width":29,"height":8}},{"id":"29223457-c6c2-4d37-b61c-063d4ed42c1d","block_type":"box","text":"(0.18)","page_number":37,"box":{"x":306,"y":259,"width":28,"height":8}},{"id":"2dd0d75b-87bc-432b-a8a1-092da4c3822a","block_type":"box","text":"(0.20)","page_number":37,"box":{"x":375,"y":259,"width":30,"height":8}},{"id":"f6af339f-06cc-4bbe-8802-42e534d9ea02","block_type":"box","text":"(0.19)","page_number":37,"box":{"x":448,"y":259,"width":29,"height":8}},{"id":"0fc99a99-17b8-4a30-90b3-adfda1f04d05","block_type":"box","text":"Return after operating","page_number":37,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"063eb789-afc5-4147-b119-de49d16cb22d","block_type":"box","text":"charges*","page_number":37,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"6af02f5b-8873-4095-8ce0-0abccf263d9d","block_type":"box","text":"14.22","page_number":37,"box":{"x":230,"y":276,"width":28,"height":6}},{"id":"f855e667-b7b8-4c2c-873c-8a93981a4e67","block_type":"box","text":"15.38","page_number":37,"box":{"x":302,"y":276,"width":28,"height":6}},{"id":"2192b4ed-ae8f-4961-a025-9076492e2b37","block_type":"box","text":"13.94","page_number":37,"box":{"x":373,"y":276,"width":28,"height":6}},{"id":"569597af-f994-43aa-8383-e0dda9a31468","block_type":"box","text":"11.06","page_number":37,"box":{"x":446,"y":276,"width":27,"height":6}},{"id":"9f7357d9-8a2b-4101-b16d-82942749a95b","block_type":"box","text":"Distributions on","page_number":37,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"ed5d1954-c1c7-45cc-9917-889a95bfa344","block_type":"box","text":"accumulation shares","page_number":37,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"34a90b37-7126-4ccb-879f-494f008b8409","block_type":"box","text":"(1.26)","page_number":37,"box":{"x":233,"y":303,"width":30,"height":8}},{"id":"6cdd9053-073c-447b-9432-7f1cd89a48f3","block_type":"box","text":"(3.19)","page_number":37,"box":{"x":305,"y":303,"width":29,"height":8}},{"id":"f6c2ba18-194d-423c-ab36-c4165c1302e2","block_type":"box","text":"(3.59)","page_number":37,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"f72bb84b-d293-4bbc-9519-7c4cb4598b8d","block_type":"box","text":"(3.21)","page_number":37,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"67a8f211-843a-4bbd-a6b1-11b75ff44384","block_type":"box","text":"Retained distributions","page_number":37,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"fbea36b1-30aa-43c2-8445-66c2fe500725","block_type":"box","text":"on accumulation shares","page_number":37,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"6b80b0b3-f605-4251-b591-bfb44997faa7","block_type":"box","text":"1.26","page_number":37,"box":{"x":237,"y":330,"width":21,"height":6}},{"id":"5098ae48-2eb0-4f08-b19e-57c9406d4f3f","block_type":"box","text":"3.19","page_number":37,"box":{"x":309,"y":330,"width":21,"height":6}},{"id":"0e590c15-66c8-441a-86db-a453ad225564","block_type":"box","text":"3.59","page_number":37,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"6e26a9e3-3dac-4b09-9f52-96fba3833c07","block_type":"box","text":"3.21","page_number":37,"box":{"x":450,"y":330,"width":21,"height":6}},{"id":"7da7f1cc-29be-4df3-8d8d-03071ad3bab6","block_type":"box","text":"Closing net asset","page_number":37,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"f664df13-3800-4f92-8a17-b6eb98e2f5c6","block_type":"box","text":"value per share","page_number":37,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"03e8927c-8d24-4e5e-9261-25747aee1fdf","block_type":"box","text":"175.82","page_number":37,"box":{"x":224,"y":357,"width":34,"height":6}},{"id":"a1d04a66-db20-43c2-8c70-4d4c2d866d2f","block_type":"box","text":"161.60","page_number":37,"box":{"x":295,"y":357,"width":35,"height":6}},{"id":"ab4cd9ad-b43b-4d5c-92fc-8f6d82764d1c","block_type":"box","text":"146.22","page_number":37,"box":{"x":366,"y":357,"width":35,"height":6}},{"id":"05ac4817-0550-4408-ba30-ae379b4388ca","block_type":"box","text":"132.28","page_number":37,"box":{"x":437,"y":357,"width":36,"height":6}},{"id":"c1d869b1-b103-42cc-8d72-08d332d046f0","block_type":"box","text":"* after direct transaction","page_number":37,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"77d247f3-4042-4e3a-bc90-1152bdcf5a68","block_type":"box","text":"costs of:","page_number":37,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"9532438b-61fd-40dc-9d8c-56928cd6a2da","block_type":"box","text":"0.02","page_number":37,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"d492cc87-65a6-4c56-b830-c8e18a6b1e42","block_type":"box","text":"0.03","page_number":37,"box":{"x":308,"y":385,"width":22,"height":6}},{"id":"3ad15d96-6617-464c-bc02-6cc6ca2400cd","block_type":"box","text":"0.05","page_number":37,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"82fa0e27-32f1-47a0-998e-f4207ad8f095","block_type":"box","text":"0.04","page_number":37,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"fb35fab6-a3b1-4421-bba2-dcdef0d00073","block_type":"box","text":"Performance","page_number":37,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"67badf9c-5a39-4f42-b87f-23bce44bdf64","block_type":"box","text":"Return after charges","page_number":37,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"c1ede975-6eb5-49c4-a3a8-2646b23c368c","block_type":"box","text":"8.80%","page_number":37,"box":{"x":225,"y":419,"width":33,"height":7}},{"id":"a2195c98-d46b-4841-9459-33de64a08f7a","block_type":"box","text":"10.52%","page_number":37,"box":{"x":291,"y":419,"width":39,"height":7}},{"id":"fa3e5984-7051-4c41-94a0-a7ac925d5f64","block_type":"box","text":"10.54%","page_number":37,"box":{"x":363,"y":419,"width":38,"height":7}},{"id":"ceca004f-047e-4f4f-921c-a1fa208ccb74","block_type":"box","text":"9.12%","page_number":37,"box":{"x":441,"y":419,"width":32,"height":7}},{"id":"92ac3254-9192-4306-80f8-5d523ef3e1e3","block_type":"box","text":"Other information","page_number":37,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"a524fdd4-11af-4d82-a593-783858b440d1","block_type":"box","text":"Closing net asset value","page_number":37,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"d8901d01-9c8f-4cf7-8d89-7a19791f2717","block_type":"box","text":"(£’000)","page_number":37,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"b9836701-db6d-4b22-9e9e-0ac00c8098ee","block_type":"box","text":"910,539","page_number":37,"box":{"x":216,"y":447,"width":43,"height":7}},{"id":"affd7311-e466-4dcd-988b-8175e12e4d06","block_type":"box","text":"869,675","page_number":37,"box":{"x":287,"y":447,"width":43,"height":7}},{"id":"f468a76a-58ef-4184-8c89-3a48e3e136ae","block_type":"box","text":"498,582","page_number":37,"box":{"x":358,"y":447,"width":43,"height":7}},{"id":"47de4577-82b2-4685-a477-82bd4d42d20a","block_type":"box","text":"490,178","page_number":37,"box":{"x":431,"y":447,"width":42,"height":7}},{"id":"f7e451a3-5840-4579-8ab2-dbaff36c9aff","block_type":"box","text":"Closing number of","page_number":37,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"82bb58c0-477b-4b84-9298-d8e9d4f68558","block_type":"box","text":"shares","page_number":37,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"0c32e417-b7d4-4c5f-8042-5b121c26e249","block_type":"box","text":"517,871,883","page_number":37,"box":{"x":196,"y":466,"width":62,"height":7}},{"id":"5f9f6afe-1ec9-4236-baf4-f3680b792b08","block_type":"box","text":"538,170,297","page_number":37,"box":{"x":265,"y":466,"width":65,"height":7}},{"id":"a4b4368f-35dc-4911-8636-445be3492ea0","block_type":"box","text":"340,977,489","page_number":37,"box":{"x":336,"y":466,"width":65,"height":7}},{"id":"52757933-c5e8-455b-a2e4-000d792548e8","block_type":"box","text":"370,568,048","page_number":37,"box":{"x":407,"y":466,"width":67,"height":7}},{"id":"474a3fae-0be0-4977-9b11-ec70128779c5","block_type":"box","text":"Operating charges","page_number":37,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"e1689811-6aae-4663-9fe1-f894794317e3","block_type":"box","text":"0.12%","page_number":37,"box":{"x":227,"y":485,"width":31,"height":6}},{"id":"2fe834f2-efdc-40f6-b2c9-252fbe56b7e7","block_type":"box","text":"0.12%","page_number":37,"box":{"x":298,"y":485,"width":32,"height":6}},{"id":"9935968c-f97a-4494-a920-9ffc7a4e9968","block_type":"box","text":"0.12%","page_number":37,"box":{"x":366,"y":485,"width":31,"height":6}},{"id":"a4a91364-2b78-401a-8f1c-2ad8871f52ed","block_type":"box","text":"#","page_number":37,"box":{"x":398,"y":485,"width":4,"height":3}},{"id":"29f1d7cb-348d-4cc8-91e4-2db2674ddbd2","block_type":"box","text":"0.15%","page_number":37,"box":{"x":441,"y":485,"width":32,"height":6}},{"id":"5f4533ad-13de-4f0c-9e24-faf43300415c","block_type":"box","text":"Direct transaction costs","page_number":37,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"b163e103-3f68-45be-8ad1-163a77c2b9f2","block_type":"box","text":"0.01%","page_number":37,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"2f7402b4-7736-4df7-b50b-2fde6c7521c1","block_type":"box","text":"0.02%","page_number":37,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"1d2109d5-7e8d-46a3-8970-4889d79128cb","block_type":"box","text":"0.04%","page_number":37,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"5f5b8eb2-aa28-4473-8220-df336f3870f8","block_type":"box","text":"0.03%","page_number":37,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"1f10ee88-6ecf-4199-805a-af1a36d5c568","block_type":"box","text":"Prices","page_number":37,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"b9d7502d-5f0c-4ddd-80a2-b6bbebbef9f9","block_type":"box","text":"^","page_number":37,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"59bc561b-a1df-48f1-bad9-1f77379912f3","block_type":"box","text":"Highest share price","page_number":37,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"619b1deb-4371-413b-bdc3-00869579b1e8","block_type":"box","text":"176.80","page_number":37,"box":{"x":224,"y":522,"width":34,"height":6}},{"id":"8ec59ee8-62d9-4dcb-9603-bbaa47b17cd1","block_type":"box","text":"162.80","page_number":37,"box":{"x":295,"y":522,"width":35,"height":6}},{"id":"97f83bb2-cd4f-4745-983a-0a00784835dd","block_type":"box","text":"148.60","page_number":37,"box":{"x":366,"y":522,"width":35,"height":6}},{"id":"49fc3aea-eaba-44e3-9550-57a809bc2590","block_type":"box","text":"132.80","page_number":37,"box":{"x":438,"y":522,"width":35,"height":6}},{"id":"b4ad0190-c9f0-47e1-8d54-b570d124351a","block_type":"box","text":"Lowest share price","page_number":37,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"f4e25842-04f6-4a7c-b72a-d32ea365032b","block_type":"box","text":"161.90","page_number":37,"box":{"x":224,"y":532,"width":34,"height":6}},{"id":"394d2cfa-6ba2-4581-8eb0-e7505f2b439b","block_type":"box","text":"135.50","page_number":37,"box":{"x":295,"y":532,"width":35,"height":6}},{"id":"138c5ff9-9b1f-456a-8cc9-2a6986bde3cb","block_type":"box","text":"130.10","page_number":37,"box":{"x":368,"y":532,"width":33,"height":6}},{"id":"abac4b56-8834-44eb-b571-c0ef35c5613e","block_type":"box","text":"120.90","page_number":37,"box":{"x":438,"y":532,"width":35,"height":6}},{"id":"be58d501-8e6a-4fe5-b87e-98b4f596c27a","block_type":"box","text":"#","page_number":37,"box":{"x":57,"y":556,"width":3,"height":3}},{"id":"57ef3987-f529-4764-badd-2e33eac165f4","block_type":"box","text":"The FMF changed from 0.15% to 0.12% on 23 September 2024.","page_number":37,"box":{"x":63,"y":556,"width":337,"height":7}},{"id":"055cd4b0-0d5f-4133-b029-ac9d8aa05cbf","block_type":"box","text":"Class S Accumulation","page_number":37,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"289744df-eb42-4e42-a571-df2a36752628","block_type":"box","text":"Change in net assets","page_number":37,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"63d93000-ca31-486f-bea0-095bef3c749b","block_type":"box","text":"30/06/26","page_number":37,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"d5aad013-3423-4996-b6af-52d839ed5e1b","block_type":"box","text":"31/12/25","page_number":37,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"6fa54496-608c-445d-aff7-d1fbf9dbc454","block_type":"box","text":"31/12/24","page_number":37,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"c885b75b-336a-434b-bdb1-3dbe04209134","block_type":"box","text":"31/12/23**","page_number":37,"box":{"x":882,"y":177,"width":55,"height":6}},{"id":"807dd06c-b6a3-4e8c-9f1f-f50bade7edaf","block_type":"box","text":"per share","page_number":37,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"d396f538-26fe-4cfb-9cb7-f7d2418c57dc","block_type":"box","text":"(p)","page_number":37,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"7ab21e68-0961-40e7-bfcc-df3f8c572321","block_type":"box","text":"(p)","page_number":37,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"e63f53b3-dd83-43b1-9c58-ce0b2c728a37","block_type":"box","text":"(p)","page_number":37,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"0a126bd1-1146-47ed-be81-0a1654bc9a2c","block_type":"box","text":"(p)","page_number":37,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"311cac42-332a-4f6d-ad29-d8110cbc5570","block_type":"box","text":"Opening net asset","page_number":37,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"4f5e00b4-65ea-475d-8ab1-100135974bed","block_type":"box","text":"value per share","page_number":37,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"1581aaf1-5d49-4478-b6dd-825708c8a618","block_type":"box","text":"126.40","page_number":37,"box":{"x":688,"y":205,"width":35,"height":6}},{"id":"6edf0cc4-c985-49bd-b22b-1cb51c232729","block_type":"box","text":"114.39","page_number":37,"box":{"x":760,"y":205,"width":34,"height":6}},{"id":"68caeaa5-6c17-4909-aa74-10c3210fd664","block_type":"box","text":"103.50","page_number":37,"box":{"x":831,"y":205,"width":35,"height":6}},{"id":"8d4342b0-bf80-4d69-b1f3-aba5cfe6b373","block_type":"box","text":"100.00","page_number":37,"box":{"x":902,"y":205,"width":35,"height":6}},{"id":"fc14118c-db67-4b3a-9ca9-b77ef37b28ce","block_type":"box","text":"Return before operating","page_number":37,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"5329b4b5-da81-40f0-822d-58d29efbea16","block_type":"box","text":"charges*","page_number":37,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"51311867-90a3-47ed-9189-94b0dc539faa","block_type":"box","text":"11.24","page_number":37,"box":{"x":696,"y":232,"width":27,"height":6}},{"id":"8f888914-ee6c-4521-8a85-f8983e3c6bca","block_type":"box","text":"12.19","page_number":37,"box":{"x":768,"y":232,"width":26,"height":6}},{"id":"157fccb9-a9d9-43e3-b91a-63ae7a74ab85","block_type":"box","text":"11.06","page_number":37,"box":{"x":839,"y":232,"width":27,"height":6}},{"id":"19f3efb1-1cb8-4cf7-9a23-c37ad2e88663","block_type":"box","text":"3.53","page_number":37,"box":{"x":914,"y":232,"width":23,"height":6}},{"id":"233c9045-8b22-49bc-b042-90ee48292201","block_type":"box","text":"Operating charges","page_number":37,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"04d4a496-7aa6-457b-b181-cc63cc036eba","block_type":"box","text":"(0.10)","page_number":37,"box":{"x":698,"y":259,"width":29,"height":8}},{"id":"c9b139e5-d0f0-4a1c-9ab5-f2936d513312","block_type":"box","text":"(0.18)","page_number":37,"box":{"x":770,"y":259,"width":28,"height":8}},{"id":"274678ff-8c33-4f9b-a748-6adb6738cab4","block_type":"box","text":"(0.17)","page_number":37,"box":{"x":841,"y":259,"width":29,"height":8}},{"id":"83bb25df-a17f-4917-a4b6-6c0c7b4d286c","block_type":"box","text":"(0.03)","page_number":37,"box":{"x":911,"y":259,"width":30,"height":8}},{"id":"110c8911-9b01-4370-9b56-ea88fd3e855d","block_type":"box","text":"Return after operating","page_number":37,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"e3fe5b4f-d301-4f14-a7ac-5feca646ebc1","block_type":"box","text":"charges*","page_number":37,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"294f6a72-ef9e-4c21-b6bf-5918cf390222","block_type":"box","text":"11.14","page_number":37,"box":{"x":697,"y":276,"width":26,"height":6}},{"id":"ac3d6b94-9bce-4f9c-9613-49a847f46b50","block_type":"box","text":"12.01","page_number":37,"box":{"x":767,"y":276,"width":26,"height":6}},{"id":"81253054-65ed-41fc-b838-0f815a7d8b3c","block_type":"box","text":"10.89","page_number":37,"box":{"x":837,"y":276,"width":29,"height":6}},{"id":"d906ecc9-1a80-4091-9a8d-722d56b62dd2","block_type":"box","text":"3.50","page_number":37,"box":{"x":914,"y":276,"width":23,"height":6}},{"id":"bde78e9e-fd68-4307-9822-34c1c11e2983","block_type":"box","text":"Distributions on","page_number":37,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"9c002b18-2ef1-4c81-8a20-3e598e67e403","block_type":"box","text":"accumulation shares","page_number":37,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"8245b086-95ce-4a7f-9d99-ccbecdb630d8","block_type":"box","text":"(0.96)","page_number":37,"box":{"x":697,"y":303,"width":30,"height":8}},{"id":"03367e75-f6e8-4a0c-a3f7-59c351e6ad1c","block_type":"box","text":"(2.47)","page_number":37,"box":{"x":768,"y":303,"width":30,"height":8}},{"id":"c7edeb33-4bf2-45eb-ae70-95709d0864b7","block_type":"box","text":"(2.81)","page_number":37,"box":{"x":840,"y":303,"width":30,"height":8}},{"id":"fe4558f2-75f0-4e0b-ae83-1344ec5abc0d","block_type":"box","text":"(0.66)","page_number":37,"box":{"x":911,"y":303,"width":30,"height":8}},{"id":"0517027c-f03d-435e-9b41-8325e43f3371","block_type":"box","text":"Retained distributions","page_number":37,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"c6b50ad5-3a50-4ff1-99db-a56fd63b3258","block_type":"box","text":"on accumulation shares","page_number":37,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"e65600f9-81d4-453d-b06b-1e5543a4802d","block_type":"box","text":"0.96","page_number":37,"box":{"x":700,"y":330,"width":23,"height":6}},{"id":"bcaf1c4d-a998-44cd-8e54-b9dff028c708","block_type":"box","text":"2.47","page_number":37,"box":{"x":772,"y":330,"width":22,"height":6}},{"id":"4ac19788-1e23-47a3-b865-f1e08a26195c","block_type":"box","text":"2.81","page_number":37,"box":{"x":843,"y":330,"width":21,"height":6}},{"id":"53c64a67-2bd3-48e1-a058-23b42db34fda","block_type":"box","text":"0.66","page_number":37,"box":{"x":915,"y":330,"width":22,"height":6}},{"id":"d1d5914a-118a-4de2-8fee-de721e34a959","block_type":"box","text":"Closing net asset","page_number":37,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"0a58f94a-7e69-4fa1-9225-7c60b3b1dc73","block_type":"box","text":"value per share","page_number":37,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"f36ba564-5680-419b-b6e7-dbcdbaefc31e","block_type":"box","text":"137.54","page_number":37,"box":{"x":689,"y":357,"width":34,"height":6}},{"id":"249aa25d-bbea-4149-81c0-744fa6cd343b","block_type":"box","text":"126.40","page_number":37,"box":{"x":759,"y":357,"width":35,"height":6}},{"id":"7e6e0ff5-2632-4750-995c-fccf7e1bbab7","block_type":"box","text":"114.39","page_number":37,"box":{"x":831,"y":357,"width":35,"height":6}},{"id":"fba78714-a0da-4b81-8d82-6fbe4b6e399a","block_type":"box","text":"103.50","page_number":37,"box":{"x":902,"y":357,"width":35,"height":6}},{"id":"36a1f398-d5ff-4de1-8932-24a920b6656e","block_type":"box","text":"* after direct transaction","page_number":37,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"1bb9201f-c069-49a2-837e-85e10ab7610a","block_type":"box","text":"costs of:","page_number":37,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"87557559-6ac0-49d0-8dec-e41741709f6a","block_type":"box","text":"0.01","page_number":37,"box":{"x":701,"y":385,"width":20,"height":6}},{"id":"847a1fbb-a803-413a-80b5-16457f50d564","block_type":"box","text":"0.02","page_number":37,"box":{"x":772,"y":385,"width":22,"height":6}},{"id":"481b72cd-f1ca-4107-b9d8-6665a45e3ea5","block_type":"box","text":"0.04","page_number":37,"box":{"x":843,"y":385,"width":23,"height":6}},{"id":"ab5ed04b-5d62-446c-a803-e3abc2a9d891","block_type":"box","text":"0.03","page_number":37,"box":{"x":915,"y":385,"width":22,"height":6}},{"id":"f287f155-6a3e-4ee4-bd09-5ef739a86b90","block_type":"box","text":"Performance","page_number":37,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"a913fb5c-ab14-4115-a6ec-6ed5fe5abf60","block_type":"box","text":"Return after charges","page_number":37,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"6e83d74a-38d5-4b88-9078-6e3d533e4774","block_type":"box","text":"8.81%","page_number":37,"box":{"x":691,"y":419,"width":32,"height":7}},{"id":"35b5ff2a-516e-4f7a-9f5c-04c6fe08e4e6","block_type":"box","text":"10.50%","page_number":37,"box":{"x":755,"y":419,"width":39,"height":7}},{"id":"2fd8090d-183f-4f5c-82c6-8705175e8e0b","block_type":"box","text":"10.52%","page_number":37,"box":{"x":827,"y":419,"width":38,"height":7}},{"id":"7e264086-0cdb-42c6-a49a-2543a02c18a8","block_type":"box","text":"3.50%","page_number":37,"box":{"x":904,"y":419,"width":33,"height":7}},{"id":"6b376731-5cf2-499e-878f-c96fe8f6798e","block_type":"box","text":"Other information","page_number":37,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"78f7beb2-f8f5-4349-ab9b-44ca6337522d","block_type":"box","text":"Closing net asset value","page_number":37,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"557e635b-83f5-48d9-b36a-55b9c18e71d4","block_type":"box","text":"(£’000)","page_number":37,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"8673eb6b-09fd-4e42-aa69-16ba92243eb0","block_type":"box","text":"25,238","page_number":37,"box":{"x":686,"y":447,"width":37,"height":7}},{"id":"6a5dbcea-7cd9-409a-b447-67f869ae71b6","block_type":"box","text":"2,944","page_number":37,"box":{"x":764,"y":447,"width":30,"height":7}},{"id":"bf6a280d-31aa-4a27-bc58-9436ab9e7167","block_type":"box","text":"2,560","page_number":37,"box":{"x":836,"y":447,"width":30,"height":7}},{"id":"8eed3dcd-006a-476d-84d2-75abfc50a62d","block_type":"box","text":"1,039","page_number":37,"box":{"x":909,"y":447,"width":28,"height":7}},{"id":"eac9c910-b323-4ad2-8db9-1703bece4749","block_type":"box","text":"Closing number of","page_number":37,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"6d5fcb2c-8445-4d1f-8e6b-4f84afa31383","block_type":"box","text":"shares","page_number":37,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"7ee1ddf9-7468-4be2-8080-514443f77733","block_type":"box","text":"18,349,312","page_number":37,"box":{"x":665,"y":466,"width":58,"height":7}},{"id":"573765f9-67b0-4c95-8396-e9f2d528828d","block_type":"box","text":"2,328,998","page_number":37,"box":{"x":741,"y":466,"width":53,"height":7}},{"id":"62e3019e-1e75-4012-b6ad-5d3cf00bb3ac","block_type":"box","text":"2,238,220","page_number":37,"box":{"x":812,"y":466,"width":54,"height":7}},{"id":"224b816b-46a0-4361-8982-9d02cb9e196f","block_type":"box","text":"1,003,805","page_number":37,"box":{"x":885,"y":466,"width":52,"height":7}},{"id":"725ae527-9e09-4c27-bb72-f22f18b3cd69","block_type":"box","text":"Operating charges","page_number":37,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"0d0720c4-c1d6-4264-8ddb-fbcd68c09190","block_type":"box","text":"0.15%","page_number":37,"box":{"x":691,"y":485,"width":32,"height":6}},{"id":"583f2b4d-31ef-4162-a957-5aec31135d5b","block_type":"box","text":"0.15%","page_number":37,"box":{"x":763,"y":485,"width":31,"height":6}},{"id":"8a513f04-0442-499e-ad7d-fcb11dd776ba","block_type":"box","text":"0.15%","page_number":37,"box":{"x":834,"y":485,"width":31,"height":6}},{"id":"c177d785-96ae-4e1a-b6a3-ad78a7f77282","block_type":"box","text":"0.15%","page_number":37,"box":{"x":906,"y":485,"width":31,"height":6}},{"id":"6a85c66f-1a5b-4893-a0fa-c3dcfeea4daf","block_type":"box","text":"Direct transaction costs","page_number":37,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"87b0c17f-21ba-4672-a935-5c2d46c66511","block_type":"box","text":"0.01%","page_number":37,"box":{"x":691,"y":495,"width":32,"height":6}},{"id":"cf3db1b8-d654-4e46-8bc3-d78bb3e94045","block_type":"box","text":"0.02%","page_number":37,"box":{"x":761,"y":495,"width":33,"height":6}},{"id":"df77fc06-f38c-4234-a0f9-ed5a7ff56fa5","block_type":"box","text":"0.04%","page_number":37,"box":{"x":833,"y":495,"width":32,"height":6}},{"id":"8d9b89f9-53e2-48bd-85a0-b4b728be0919","block_type":"box","text":"0.03%","page_number":37,"box":{"x":904,"y":495,"width":33,"height":6}},{"id":"57cef193-97a0-4ce7-b950-198494606020","block_type":"box","text":"Prices","page_number":37,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"305aec99-a3c8-423e-8cb1-bb7b81526cbf","block_type":"box","text":"^","page_number":37,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"e98b1588-2542-4f2d-80c4-779a13de7083","block_type":"box","text":"Highest share price","page_number":37,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"d463d880-6649-45dd-b8ca-9af48f42affa","block_type":"box","text":"138.30","page_number":37,"box":{"x":688,"y":522,"width":35,"height":6}},{"id":"34fccb32-0961-4d91-8e1f-a1eeead04c2a","block_type":"box","text":"127.30","page_number":37,"box":{"x":761,"y":522,"width":33,"height":6}},{"id":"145882f6-8808-4868-963a-126317e77918","block_type":"box","text":"116.20","page_number":37,"box":{"x":832,"y":522,"width":34,"height":6}},{"id":"bc26a00e-8f9b-432d-8baf-cab492fe5bed","block_type":"box","text":"103.90","page_number":37,"box":{"x":902,"y":522,"width":35,"height":6}},{"id":"0542957d-2e33-4080-b33d-3e19e763bf42","block_type":"box","text":"Lowest share price","page_number":37,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"5c1d7681-7b53-44e3-bbef-8d538afde1ba","block_type":"box","text":"126.60","page_number":37,"box":{"x":688,"y":532,"width":35,"height":6}},{"id":"80938411-fca6-4b20-9aaf-6b4197c1cc6f","block_type":"box","text":"106.00","page_number":37,"box":{"x":759,"y":532,"width":35,"height":6}},{"id":"c3fcdf9e-1f76-4a4d-833f-546c1741a579","block_type":"box","text":"101.80","page_number":37,"box":{"x":831,"y":532,"width":35,"height":6}},{"id":"493f4aa4-11e2-4ec9-9858-a3820bd390ce","block_type":"box","text":"97.33","page_number":37,"box":{"x":909,"y":532,"width":28,"height":6}},{"id":"e88d4f79-95b5-41db-b996-70a531b376e9","block_type":"box","text":"** Class S Accumulation launched on 12 October 2023.","page_number":37,"box":{"x":521,"y":556,"width":294,"height":6}},{"id":"da17cb44-64a8-465f-9451-3ee1ce05b669","block_type":"box","text":"Comparative Tables","page_number":37,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"81593ec6-439c-474e-8fdf-f088d8eb2acc","block_type":"box","text":"(continued)","page_number":37,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"e0c52bf4-9a17-40a0-84f7-c3e51e84cfec","block_type":"box","text":"Royal London GMAP Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":37,"box":{"x":514,"y":33,"width":399,"height":8}},{"id":"1c2ab1cc-4663-4521-9a3c-77ad70a457ba","block_type":"box","text":"37","page_number":37,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"6b03c728-d93e-4d5f-a95c-d60d5a21e142","block_type":"box","text":"Comparative Tables","page_number":38,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"d95ac3dc-d8f3-4f39-bbf0-93f364b32c20","block_type":"box","text":"(continued)","page_number":38,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"c40d7e89-9ac2-4623-9607-86fc3a8f6656","block_type":"box","text":"Class Z Accumulation","page_number":38,"box":{"x":57,"y":151,"width":202,"height":9}},{"id":"f614ed84-6b6d-48ce-b2da-666b427e0c51","block_type":"box","text":"Change in net assets","page_number":38,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"8fde5aac-a2d3-42de-ae61-153126f69466","block_type":"box","text":"30/06/26","page_number":38,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"4059d8cc-2c5b-4d54-8abe-f87f50899ebb","block_type":"box","text":"31/12/25","page_number":38,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"9925e63d-f212-44a6-9015-849aa0e5cd09","block_type":"box","text":"31/12/24","page_number":38,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"0e94d768-5b4d-4f83-b7bb-003bc0470733","block_type":"box","text":"31/12/23**","page_number":38,"box":{"x":418,"y":177,"width":55,"height":6}},{"id":"47a24f66-1a00-47b5-ad73-b6c76f3bee4d","block_type":"box","text":"per share","page_number":38,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"fa1f2046-f091-4406-8ada-c28181d55b51","block_type":"box","text":"(p)","page_number":38,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"3bd468d8-721e-4689-bf6d-36935691fef9","block_type":"box","text":"(p)","page_number":38,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"e86c60e4-0f9c-420b-a704-35db698db52c","block_type":"box","text":"(p)","page_number":38,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"9e290984-f6f4-4073-bb7c-f7a203fbe3fb","block_type":"box","text":"(p)","page_number":38,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"0e6f5b07-e52b-45b4-852e-2306c53ee913","block_type":"box","text":"Opening net asset","page_number":38,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"1bbff409-1346-4d1b-8ceb-730610d3fb51","block_type":"box","text":"value per share","page_number":38,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"4c440ab1-8a7f-4b52-b78c-bd6b1efe2543","block_type":"box","text":"128.76","page_number":38,"box":{"x":224,"y":205,"width":34,"height":6}},{"id":"90ce0256-7676-4c3f-b813-890f2ff8a496","block_type":"box","text":"116.76","page_number":38,"box":{"x":297,"y":205,"width":33,"height":6}},{"id":"a03590f8-1372-4eda-af9c-05f59bc5921d","block_type":"box","text":"105.84","page_number":38,"box":{"x":366,"y":205,"width":35,"height":6}},{"id":"52d9bb49-64c5-4f82-a61a-6de7fe2d3d2d","block_type":"box","text":"100.00","page_number":38,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"04f748dc-8cf6-46d5-88f4-5cbb449be3e3","block_type":"box","text":"Return before operating","page_number":38,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"0861cf62-e3b0-414c-98a9-0c0e7f2ed295","block_type":"box","text":"charges*","page_number":38,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"181bf712-43ca-4163-9259-845e28abe68b","block_type":"box","text":"11.42","page_number":38,"box":{"x":232,"y":232,"width":26,"height":6}},{"id":"33502560-9376-4f14-8ec3-a07386a6fe28","block_type":"box","text":"12.48","page_number":38,"box":{"x":302,"y":232,"width":28,"height":6}},{"id":"4d12fceb-c965-4d98-9551-07fdb4e7ae39","block_type":"box","text":"11.38","page_number":38,"box":{"x":374,"y":232,"width":27,"height":6}},{"id":"0faa6430-e1db-4c5e-9cbc-17dea0f1d16b","block_type":"box","text":"6.23","page_number":38,"box":{"x":450,"y":232,"width":23,"height":6}},{"id":"07da9905-691f-49d0-8330-f182cba5176b","block_type":"box","text":"Operating charges","page_number":38,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"e079228e-38d2-490b-ac82-79611dc5b504","block_type":"box","text":"(0.23)","page_number":38,"box":{"x":232,"y":259,"width":31,"height":8}},{"id":"fced4347-3234-4f41-9f1c-e5fe94bb5d00","block_type":"box","text":"(0.48)","page_number":38,"box":{"x":304,"y":259,"width":30,"height":8}},{"id":"27464695-bbae-4f94-b770-9e1bcba83af7","block_type":"box","text":"(0.46)","page_number":38,"box":{"x":375,"y":259,"width":30,"height":8}},{"id":"ebb0ac4c-ff6d-462e-910b-76ca817bb52b","block_type":"box","text":"(0.39)","page_number":38,"box":{"x":447,"y":259,"width":30,"height":8}},{"id":"6edc40f9-017d-45fc-8040-f9f7537a9f46","block_type":"box","text":"Return after operating","page_number":38,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"b84d0c97-710a-4983-ab69-6cc04ce73a15","block_type":"box","text":"charges*","page_number":38,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"748c5f17-760a-4a69-bafc-77574baf48a8","block_type":"box","text":"11.19","page_number":38,"box":{"x":233,"y":276,"width":26,"height":6}},{"id":"a9995f7b-7724-486b-96d7-e9e83cf956eb","block_type":"box","text":"12.00","page_number":38,"box":{"x":302,"y":276,"width":28,"height":6}},{"id":"7272936f-348f-4cfc-b766-a121ff9e9341","block_type":"box","text":"10.92","page_number":38,"box":{"x":373,"y":276,"width":28,"height":6}},{"id":"2bab1564-a2c0-4d12-99f7-50c01a315464","block_type":"box","text":"5.84","page_number":38,"box":{"x":450,"y":276,"width":23,"height":6}},{"id":"05a76cca-5014-4e95-8eed-6bad48023024","block_type":"box","text":"Distributions on","page_number":38,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"a2fd86cc-fd35-442f-b230-5c34ffe86bf6","block_type":"box","text":"accumulation shares","page_number":38,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"7a98aa7c-4811-4d47-8b8d-532d98269916","block_type":"box","text":"(0.87)","page_number":38,"box":{"x":232,"y":303,"width":31,"height":8}},{"id":"925ce157-2081-4895-9d1c-c542dc0eaccd","block_type":"box","text":"(2.28)","page_number":38,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"c6d56720-3fad-4498-9089-0e4722c61317","block_type":"box","text":"(2.83)","page_number":38,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"5843d3cd-7002-4474-9b9a-7352c7274640","block_type":"box","text":"(2.33)","page_number":38,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"f1c4a460-db63-458a-ad15-da208f268f0b","block_type":"box","text":"Retained distributions","page_number":38,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"ace1ed7c-5d03-4179-ab90-3a4dca07568d","block_type":"box","text":"on accumulation shares","page_number":38,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"c9a10cc8-d7da-48a1-b310-4db67c346191","block_type":"box","text":"0.87","page_number":38,"box":{"x":236,"y":330,"width":22,"height":6}},{"id":"70c4edc3-c69c-4b85-bb7f-057b2c085e90","block_type":"box","text":"2.28","page_number":38,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"a0c14b7d-075c-4697-8f89-a1e9e7fb0b5b","block_type":"box","text":"2.83","page_number":38,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"cc1154fb-11a5-4972-aebf-7dcf893179f9","block_type":"box","text":"2.33","page_number":38,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"0d6d2a65-a50a-4eeb-8ee2-de86481e5e23","block_type":"box","text":"Closing net asset","page_number":38,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"5b2184db-c367-4412-91c2-07e6df3d3e99","block_type":"box","text":"value per share","page_number":38,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"6739bc86-a48b-4bb2-b814-0a5d9aa20cc3","block_type":"box","text":"139.95","page_number":38,"box":{"x":223,"y":357,"width":36,"height":6}},{"id":"f4598056-ea2d-4409-ae22-7a8241467a90","block_type":"box","text":"128.76","page_number":38,"box":{"x":295,"y":357,"width":35,"height":6}},{"id":"5a4eb2d4-64b4-46dc-b00a-e361fd6bf2f5","block_type":"box","text":"116.76","page_number":38,"box":{"x":367,"y":357,"width":34,"height":6}},{"id":"bd8a71d0-2924-4635-a782-7d1136805b88","block_type":"box","text":"105.84","page_number":38,"box":{"x":437,"y":357,"width":36,"height":6}},{"id":"1bc3d77b-d880-475d-8ad0-23692ee7c635","block_type":"box","text":"* after direct transaction","page_number":38,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"dd0613f6-05f1-4cb9-b123-1ef9ca958afe","block_type":"box","text":"costs of:","page_number":38,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"341345af-a3ce-4d68-93b4-522bbcdf9e6c","block_type":"box","text":"0.01","page_number":38,"box":{"x":236,"y":385,"width":21,"height":6}},{"id":"b831ba48-ff93-4bfd-be30-1f6caaf1134e","block_type":"box","text":"0.03","page_number":38,"box":{"x":308,"y":385,"width":22,"height":6}},{"id":"7b7faddf-991a-4034-bdb4-f77d45b7b952","block_type":"box","text":"0.04","page_number":38,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"7154ca45-c5e1-4114-96c7-ff4b8b7bc17e","block_type":"box","text":"0.03","page_number":38,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"e2311e7c-701a-4d52-8168-53192e78928f","block_type":"box","text":"Performance","page_number":38,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"695defe8-a1af-4142-86ab-1babf0efd75c","block_type":"box","text":"Return after charges","page_number":38,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"b97abfb0-f2c4-44a2-8f35-3800a02a47bd","block_type":"box","text":"8.69%","page_number":38,"box":{"x":225,"y":419,"width":33,"height":7}},{"id":"01a5e675-3559-4a1b-bb67-a5a5ff5ab04c","block_type":"box","text":"10.28%","page_number":38,"box":{"x":291,"y":419,"width":39,"height":7}},{"id":"47bedfc2-b75b-4842-a5db-ad9be09a93c3","block_type":"box","text":"10.32%","page_number":38,"box":{"x":363,"y":419,"width":38,"height":7}},{"id":"e95f7fb9-85cf-491b-a627-44f9716a2934","block_type":"box","text":"5.84%","page_number":38,"box":{"x":440,"y":419,"width":33,"height":7}},{"id":"8045432a-b6c8-495d-a2d8-042fdb1890ed","block_type":"box","text":"Other information","page_number":38,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"21e5e4e7-ef77-4a78-971c-2b72a8700f78","block_type":"box","text":"Closing net asset value","page_number":38,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"c6ec9c89-06ea-4512-a4d7-168787a8f4fa","block_type":"box","text":"(£’000)","page_number":38,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"92e3c76a-9178-48db-905c-ae3fc23f9fee","block_type":"box","text":"179,038","page_number":38,"box":{"x":217,"y":447,"width":42,"height":7}},{"id":"b3f26e78-ca77-4591-b951-8826b020f119","block_type":"box","text":"142,620","page_number":38,"box":{"x":289,"y":447,"width":41,"height":7}},{"id":"b51243ba-fa72-4f8c-a072-3e7f19b5179d","block_type":"box","text":"67,228","page_number":38,"box":{"x":366,"y":447,"width":35,"height":7}},{"id":"774454ea-523c-43b8-b5b5-abca14d51589","block_type":"box","text":"34","page_number":38,"box":{"x":460,"y":447,"width":13,"height":6}},{"id":"e54e0e05-1643-48d2-86bc-7ea36fbed832","block_type":"box","text":"Closing number of","page_number":38,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"a4c5c857-676f-4eb6-a8a1-26b36759ed81","block_type":"box","text":"shares","page_number":38,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"c2b43648-f30a-4fc3-8e49-aae58bc45870","block_type":"box","text":"127,931,151","page_number":38,"box":{"x":198,"y":466,"width":59,"height":7}},{"id":"1800f2f8-1647-40e1-8223-29164bc5e992","block_type":"box","text":"110,763,575","page_number":38,"box":{"x":267,"y":466,"width":63,"height":7}},{"id":"60f01224-011b-4ecc-a77d-21bc2d2df9ed","block_type":"box","text":"57,578,183","page_number":38,"box":{"x":344,"y":466,"width":57,"height":7}},{"id":"856d4af2-5423-438d-b0f3-3ebff29eff74","block_type":"box","text":"32,114","page_number":38,"box":{"x":439,"y":466,"width":34,"height":7}},{"id":"61abb331-50ea-4452-8f0b-8fa1404a01f0","block_type":"box","text":"Operating charges","page_number":38,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"aac47f61-1941-4bac-99b9-2256af543702","block_type":"box","text":"0.30%","page_number":38,"box":{"x":221,"y":485,"width":33,"height":6}},{"id":"5e45f638-9c02-45f0-b824-0553a7b0e95d","block_type":"box","text":"#","page_number":38,"box":{"x":255,"y":485,"width":4,"height":3}},{"id":"f95f58bc-0f51-4e9c-a9e4-4ef6d952d36e","block_type":"box","text":"0.40%","page_number":38,"box":{"x":297,"y":485,"width":33,"height":6}},{"id":"2cde4602-0c84-4fcb-bb36-b10c02856e1c","block_type":"box","text":"0.40%","page_number":38,"box":{"x":368,"y":485,"width":33,"height":6}},{"id":"6b58494c-88c1-48db-8126-06460fc6acbc","block_type":"box","text":"0.40%","page_number":38,"box":{"x":440,"y":485,"width":33,"height":6}},{"id":"e561965b-fd3f-4c09-901c-1ef5fe86dfad","block_type":"box","text":"Direct transaction costs","page_number":38,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"ea0c2265-fab4-4889-9f83-7f41a8ffcd3b","block_type":"box","text":"0.01%","page_number":38,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"45d0f0ee-1106-47e8-8249-d836e88253b5","block_type":"box","text":"0.02%","page_number":38,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"385e7bd1-1c3a-444d-85fb-3131afda89b6","block_type":"box","text":"0.04%","page_number":38,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"d9df8dae-e1c9-402e-95d9-95ecbee1b30b","block_type":"box","text":"0.03%","page_number":38,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"224c7ca6-0f52-4b9b-a8d8-d3c784dec26c","block_type":"box","text":"Prices","page_number":38,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"22963b7c-ff49-48ce-9d64-00d627ad2583","block_type":"box","text":"^","page_number":38,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"acc02eb2-de9b-4aa0-ae26-15bafd4fede0","block_type":"box","text":"Highest share price","page_number":38,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"9b186013-199c-41c7-8513-145a0ce12695","block_type":"box","text":"140.70","page_number":38,"box":{"x":224,"y":522,"width":34,"height":6}},{"id":"7f681943-0bc2-40e1-b02f-45f9b17d2bc9","block_type":"box","text":"129.70","page_number":38,"box":{"x":296,"y":522,"width":34,"height":6}},{"id":"421e7851-7255-40c4-83da-2f6f161d2f9a","block_type":"box","text":"118.60","page_number":38,"box":{"x":367,"y":522,"width":34,"height":6}},{"id":"09dd487d-72aa-4388-bdb9-c06f14db84a5","block_type":"box","text":"106.20","page_number":38,"box":{"x":437,"y":522,"width":36,"height":6}},{"id":"5d9c2246-79c9-4d85-b58a-d9967e96a1c4","block_type":"box","text":"Lowest share price","page_number":38,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"08f39ccc-f931-43b6-accf-17208975b180","block_type":"box","text":"128.90","page_number":38,"box":{"x":224,"y":532,"width":34,"height":6}},{"id":"e1828d0c-0e77-47b1-994b-8cb8a75a1aa7","block_type":"box","text":"108.10","page_number":38,"box":{"x":296,"y":532,"width":34,"height":6}},{"id":"8a0aa129-e582-4fe5-a32a-24cefaba548c","block_type":"box","text":"104.10","page_number":38,"box":{"x":368,"y":532,"width":33,"height":6}},{"id":"35743df0-c376-418b-83a0-70291b28f284","block_type":"box","text":"96.92","page_number":38,"box":{"x":443,"y":532,"width":30,"height":6}},{"id":"380d2496-80f7-4614-841c-3aa47116a1af","block_type":"box","text":"** Class Z Accumulation launched on 31 January 2023.","page_number":38,"box":{"x":57,"y":556,"width":293,"height":7}},{"id":"7b35ed3a-7dc2-4b25-bb81-03c05f082678","block_type":"box","text":"#","page_number":38,"box":{"x":57,"y":570,"width":3,"height":3}},{"id":"6aafa6eb-84b6-4d3e-976c-ff1588c828ad","block_type":"box","text":"The FMF changed from 0.40% to 0.30% on 31 March 2026.","page_number":38,"box":{"x":64,"y":570,"width":316,"height":8}},{"id":"2478043f-22bb-4755-ba95-f32a6cd3fdcc","block_type":"box","text":"^","page_number":38,"box":{"x":57,"y":584,"width":3,"height":2}},{"id":"6ebb7d5a-7208-49eb-b7c5-2d0dd17b380e","block_type":"box","text":"The high and low prices disclosed are the high and low prices for the accounting","page_number":38,"box":{"x":63,"y":584,"width":414,"height":8}},{"id":"9ce8875c-0006-4e15-bea6-82eb0388d035","block_type":"box","text":"period and not the calendar year.","page_number":38,"box":{"x":57,"y":595,"width":175,"height":7}},{"id":"fcba5ad1-4cfe-4c65-b26d-73b2f72277c1","block_type":"box","text":"From 3 June 2019, the Fund has received a full rebate of","page_number":38,"box":{"x":58,"y":613,"width":421,"height":9}},{"id":"6dce326b-8839-45c3-bf6d-dd265691ac1e","block_type":"box","text":"synthetic costs to maintain the Fund Management Fee at a","page_number":38,"box":{"x":57,"y":626,"width":420,"height":10}},{"id":"a22c8922-2339-44e8-90ae-c73852185972","block_type":"box","text":"fixed level.","page_number":38,"box":{"x":57,"y":639,"width":71,"height":8}},{"id":"7832ccd7-fc10-44c9-9fd3-a3f6d350c7bf","block_type":"box","text":"It should be noted that past performance is not a reliable","page_number":38,"box":{"x":58,"y":655,"width":419,"height":10}},{"id":"2c80fb8e-9393-4bec-a932-b18ee2a4c670","block_type":"box","text":"indicator of future performance and that the value of shares,","page_number":38,"box":{"x":58,"y":668,"width":419,"height":10}},{"id":"27af7077-e815-43b4-ac15-ac333a91c84c","block_type":"box","text":"and the income derived from them, can vary.","page_number":38,"box":{"x":57,"y":681,"width":302,"height":10}},{"id":"3b7b3e64-f31e-435a-8239-b0748f776e79","block_type":"box","text":"Royal London GMAP Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":38,"box":{"x":514,"y":33,"width":399,"height":8}},{"id":"f71eee28-92ee-4174-bba3-f71912d9c051","block_type":"box","text":"38","page_number":38,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"bdabd006-fb2f-4904-9680-d23b9218db6e","block_type":"box","text":"Portfolio Statement","page_number":39,"box":{"x":58,"y":94,"width":233,"height":11}},{"id":"549bc758-6ed6-442e-b8c4-4c15fe0f45b3","block_type":"box","text":"As at 30","page_number":39,"box":{"x":57,"y":113,"width":55,"height":8}},{"id":"1588fd7a-d3f9-4e01-9bdd-69a9e091870b","block_type":"box","text":"June 2026","page_number":39,"box":{"x":117,"y":113,"width":70,"height":8}},{"id":"8a6c8f1f-a706-4d90-b9e0-9c27305a3164","block_type":"box","text":"Bond Collective Investment Schemes – 32.59% (31/12/25 – 35.89%)","page_number":39,"box":{"x":58,"y":201,"width":379,"height":8}},{"id":"6ad49fca-db80-43a1-950f-7f2eab6a2859","block_type":"box","text":"12,842,420","page_number":39,"box":{"x":63,"y":211,"width":57,"height":7}},{"id":"e8dd848c-2966-47cd-bb63-6eb419a9565c","block_type":"box","text":"Royal London Emerging Markets Corporate","page_number":39,"box":{"x":129,"y":211,"width":225,"height":8}},{"id":"cac7e04f-c84d-45ac-bdf6-6d5e90a49eee","block_type":"box","text":"Bond Fund R Acc","page_number":39,"box":{"x":129,"y":221,"width":90,"height":6}},{"id":"dc8b0f26-75a0-4578-98f2-fa45bf419586","block_type":"box","text":"†","page_number":39,"box":{"x":220,"y":220,"width":3,"height":5}},{"id":"6193b0cf-822b-4791-9dbf-fdde7dd11e19","block_type":"box","text":"16,416","page_number":39,"box":{"x":365,"y":220,"width":34,"height":8}},{"id":"b7490fea-53e3-4e0f-8dff-dfd8779b6355","block_type":"box","text":"1.13","page_number":39,"box":{"x":451,"y":220,"width":21,"height":7}},{"id":"5085c67b-01d5-48b2-87c4-b99ddafb84ea","block_type":"box","text":"29,364,671","page_number":39,"box":{"x":62,"y":230,"width":57,"height":7}},{"id":"c9a66ed0-d480-4ac1-ace2-64f1d60d31b2","block_type":"box","text":"Royal London Global High Yield Bond Fund","page_number":39,"box":{"x":129,"y":230,"width":225,"height":8}},{"id":"dc69ae21-899e-48fc-ba1a-d7533de05da3","block_type":"box","text":"R Acc","page_number":39,"box":{"x":129,"y":240,"width":30,"height":6}},{"id":"36329b10-ac05-4196-928d-8aef12b6535f","block_type":"box","text":"†","page_number":39,"box":{"x":159,"y":240,"width":3,"height":4}},{"id":"13bc8407-af48-4773-be4e-38112a53aa8b","block_type":"box","text":"38,644","page_number":39,"box":{"x":364,"y":240,"width":35,"height":7}},{"id":"e4c001b9-8adb-4fda-9222-a40110faa20c","block_type":"box","text":"2.65","page_number":39,"box":{"x":450,"y":240,"width":22,"height":6}},{"id":"98377022-9668-4317-b5d5-1ef03cdac0c9","block_type":"box","text":"10,319,473","page_number":39,"box":{"x":63,"y":249,"width":57,"height":7}},{"id":"5a38ee84-1ff1-4b99-b619-7abc966b65c8","block_type":"box","text":"Royal London Global Senior ABS Fund","page_number":39,"box":{"x":129,"y":249,"width":202,"height":8}},{"id":"299b3ede-beab-480e-be62-7e11d5e76524","block_type":"box","text":"R Acc","page_number":39,"box":{"x":129,"y":259,"width":30,"height":6}},{"id":"5f9e9431-fd40-476b-a847-5c7f59ff21e2","block_type":"box","text":"†","page_number":39,"box":{"x":159,"y":259,"width":3,"height":4}},{"id":"200e2350-2818-4d4a-92d1-6f8f947a2ff5","block_type":"box","text":"10,992","page_number":39,"box":{"x":365,"y":259,"width":34,"height":7}},{"id":"25e1ef0c-6454-4f92-ab9d-f6cadda80644","block_type":"box","text":"0.76","page_number":39,"box":{"x":450,"y":259,"width":22,"height":6}},{"id":"8fc3226c-e2d9-49ac-a41f-edf0a6a3717a","block_type":"box","text":"24,480,714","page_number":39,"box":{"x":62,"y":268,"width":58,"height":7}},{"id":"ea8aecf4-d956-49db-8927-92384af1f1e2","block_type":"box","text":"Royal London Global Sustainable Credit","page_number":39,"box":{"x":129,"y":268,"width":208,"height":8}},{"id":"ecbbaf0c-146f-4ecd-9700-35ffea751073","block_type":"box","text":"Fund R Acc","page_number":39,"box":{"x":129,"y":278,"width":60,"height":6}},{"id":"42c5d684-6df4-4ae8-b860-2f9efe01d502","block_type":"box","text":"†","page_number":39,"box":{"x":189,"y":278,"width":3,"height":4}},{"id":"fff044a8-60ca-42ee-ac6c-f3fd19281b20","block_type":"box","text":"25,458","page_number":39,"box":{"x":364,"y":278,"width":35,"height":7}},{"id":"8473e3f0-1d13-4a74-b2f2-635a5469b06b","block_type":"box","text":"1.75","page_number":39,"box":{"x":451,"y":278,"width":21,"height":6}},{"id":"405eb3e7-492a-4ecb-bf69-7aa8c0fc6b85","block_type":"box","text":"88,291,167","page_number":39,"box":{"x":63,"y":287,"width":57,"height":7}},{"id":"d1afcac5-e3f3-4831-93d1-b4636c6f9117","block_type":"box","text":"Royal London Index Linked Fund R Acc","page_number":39,"box":{"x":129,"y":287,"width":206,"height":8}},{"id":"8a51936e-55bb-4a0c-9d1c-d7c1e84bc160","block_type":"box","text":"†","page_number":39,"box":{"x":335,"y":287,"width":3,"height":4}},{"id":"a550186b-5379-47a6-8986-49b7fae1b957","block_type":"box","text":"72,722","page_number":39,"box":{"x":364,"y":287,"width":35,"height":7}},{"id":"dc2c12fa-42d6-41e8-95af-19fe486760f4","block_type":"box","text":"4.99","page_number":39,"box":{"x":450,"y":287,"width":22,"height":6}},{"id":"4e33a9b4-aa3d-4ba4-a729-49882ce42e82","block_type":"box","text":"38,539,342","page_number":39,"box":{"x":63,"y":297,"width":57,"height":7}},{"id":"bc4d695c-4f2a-45fe-acb1-d293fa4f0c37","block_type":"box","text":"Royal London International Government","page_number":39,"box":{"x":129,"y":296,"width":207,"height":8}},{"id":"d65ad40c-7217-4d13-bc38-d9c745e1b98e","block_type":"box","text":"Bond Fund R Acc","page_number":39,"box":{"x":129,"y":306,"width":90,"height":6}},{"id":"1bb78a9d-ef97-470c-8e1a-6e2c49c2ef61","block_type":"box","text":"†","page_number":39,"box":{"x":220,"y":306,"width":3,"height":4}},{"id":"1db1d4d2-3968-4d7c-98bd-18f5205139b2","block_type":"box","text":"44,189","page_number":39,"box":{"x":364,"y":306,"width":35,"height":7}},{"id":"1e19e008-08a6-4c4a-8773-8ae8feed13b5","block_type":"box","text":"3.03","page_number":39,"box":{"x":450,"y":306,"width":22,"height":6}},{"id":"c693b1a9-f431-4bc1-83b8-1f34d7d9661d","block_type":"box","text":"20,426,598","page_number":39,"box":{"x":62,"y":316,"width":58,"height":7}},{"id":"0a635fb8-42dc-4151-9184-52f0c3e87e64","block_type":"box","text":"Royal London Investment Grade Short","page_number":39,"box":{"x":129,"y":315,"width":200,"height":8}},{"id":"649518e6-e46c-41ed-98d4-603f26c8b126","block_type":"box","text":"Dated Credit Fund R Acc","page_number":39,"box":{"x":129,"y":325,"width":129,"height":6}},{"id":"a4eea263-0df4-4c28-b642-1d2feaf275d2","block_type":"box","text":"†","page_number":39,"box":{"x":258,"y":325,"width":4,"height":4}},{"id":"8664caae-9ae7-4ff5-b16d-ca4a52fcf0f8","block_type":"box","text":"25,789","page_number":39,"box":{"x":364,"y":325,"width":35,"height":7}},{"id":"4b2246a2-6215-4ff6-b8de-987181f60322","block_type":"box","text":"1.77","page_number":39,"box":{"x":451,"y":325,"width":21,"height":6}},{"id":"ec1da38c-f306-462e-b7f1-0be95557bb5e","block_type":"box","text":"36,002,857","page_number":39,"box":{"x":63,"y":335,"width":57,"height":7}},{"id":"983ad1da-0071-4a4f-9d26-799b880a2120","block_type":"box","text":"Royal London Sterling Credit Fund R Acc","page_number":39,"box":{"x":129,"y":334,"width":213,"height":8}},{"id":"013c33f8-3fbc-46fe-a8ad-60a2bd4879e9","block_type":"box","text":"†","page_number":39,"box":{"x":343,"y":335,"width":3,"height":4}},{"id":"f7322692-30d0-409d-994e-40efc5ec7bf6","block_type":"box","text":"47,931","page_number":39,"box":{"x":364,"y":335,"width":33,"height":7}},{"id":"c8139298-fbc3-494b-ba73-a7884f53a148","block_type":"box","text":"3.29","page_number":39,"box":{"x":450,"y":335,"width":22,"height":6}},{"id":"649f7394-af96-4c7c-b574-ff4c6e21769a","block_type":"box","text":"90,502,484","page_number":39,"box":{"x":63,"y":344,"width":57,"height":7}},{"id":"223832de-fb30-4bbe-a2f6-87b56a92d0c6","block_type":"box","text":"Royal London Sterling Liquidity Money","page_number":39,"box":{"x":129,"y":344,"width":200,"height":8}},{"id":"36082e84-75f0-4494-ad24-4999ff0053a2","block_type":"box","text":"Market Fund R Inc","page_number":39,"box":{"x":129,"y":354,"width":96,"height":6}},{"id":"7e140c99-39cd-4a76-94f4-ba841de7015d","block_type":"box","text":"†","page_number":39,"box":{"x":225,"y":354,"width":3,"height":4}},{"id":"debe5709-d40e-41a8-a376-584db82a547c","block_type":"box","text":"90,502","page_number":39,"box":{"x":364,"y":354,"width":35,"height":7}},{"id":"a1533940-9384-4a87-a770-dcaf44b913fb","block_type":"box","text":"6.21","page_number":39,"box":{"x":450,"y":354,"width":20,"height":6}},{"id":"2cf4e52a-8cab-4068-80bb-460d942627f4","block_type":"box","text":"105,914,379","page_number":39,"box":{"x":58,"y":363,"width":64,"height":7}},{"id":"a3ef4caf-3821-4faa-8ae7-0bd214a296a2","block_type":"box","text":"Royal London UK Government Bond Fund","page_number":39,"box":{"x":129,"y":363,"width":219,"height":8}},{"id":"7b8e6173-a1dd-486a-a0b8-f9416a4dbf63","block_type":"box","text":"R Acc","page_number":39,"box":{"x":129,"y":373,"width":30,"height":6}},{"id":"60848020-b47b-44ee-adc2-ffe8c4178d0a","block_type":"box","text":"†","page_number":39,"box":{"x":159,"y":373,"width":3,"height":4}},{"id":"e5dedcc5-7593-4fd8-a90f-fbd3b779dca6","block_type":"box","text":"102,115","page_number":39,"box":{"x":359,"y":373,"width":40,"height":7}},{"id":"be2d080b-75b0-491f-ba64-ceec6b31696b","block_type":"box","text":"7.01","page_number":39,"box":{"x":450,"y":373,"width":20,"height":6}},{"id":"a449d0ad-b147-49d2-9e3e-68757819bd57","block_type":"box","text":"Total Bond Collective Investment Schemes","page_number":39,"box":{"x":57,"y":389,"width":239,"height":6}},{"id":"591ffc6f-9856-416c-8f7d-221fe49c629c","block_type":"box","text":"474,758","page_number":39,"box":{"x":357,"y":389,"width":42,"height":7}},{"id":"11ede145-14c8-429b-90a7-6fe918f4cfd0","block_type":"box","text":"32.59","page_number":39,"box":{"x":443,"y":389,"width":29,"height":6}},{"id":"9d9ec6a3-abd1-4f85-9043-5ca535a53ea3","block_type":"box","text":"Equity Collective Investment Schemes – 60.11% (31/12/25 – 55.93%)","page_number":39,"box":{"x":58,"y":405,"width":383,"height":8}},{"id":"77186103-22ea-430d-80b9-056e4d4c5dee","block_type":"box","text":"8,423,517","page_number":39,"box":{"x":69,"y":415,"width":51,"height":7}},{"id":"d64c3488-fee7-4043-8376-2f09938aa77e","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt","page_number":39,"box":{"x":129,"y":414,"width":204,"height":8}},{"id":"4d55cb7c-3434-4e1b-b95b-fea37773503b","block_type":"box","text":"Fund R Acc","page_number":39,"box":{"x":129,"y":424,"width":60,"height":6}},{"id":"2065897b-6e30-4216-9cec-48a7f793ddac","block_type":"box","text":"†","page_number":39,"box":{"x":189,"y":424,"width":3,"height":4}},{"id":"ac1c79d9-878d-4bae-99a4-82cb4745a63e","block_type":"box","text":"25,133","page_number":39,"box":{"x":364,"y":424,"width":35,"height":7}},{"id":"a06d66ec-3ac7-4d65-9e64-042cc44e2e52","block_type":"box","text":"1.73","page_number":39,"box":{"x":451,"y":424,"width":21,"height":6}},{"id":"e97e29a0-d72b-4901-b285-e13f584cad6c","block_type":"box","text":"49,271,240","page_number":39,"box":{"x":62,"y":434,"width":58,"height":7}},{"id":"d8406775-6fb3-45ab-80c7-b492266cb538","block_type":"box","text":"Royal London Emerging Markets Equity","page_number":39,"box":{"x":129,"y":434,"width":206,"height":7}},{"id":"39ede88a-ce7f-40a4-b4c2-3bd15f88631c","block_type":"box","text":"Tilt Fund R Acc","page_number":39,"box":{"x":128,"y":443,"width":79,"height":6}},{"id":"1773b5f2-058e-4e80-8ae3-78c6dae306e1","block_type":"box","text":"†","page_number":39,"box":{"x":208,"y":443,"width":3,"height":4}},{"id":"08a7d3a1-944d-4b1e-8c44-8efe95af1e53","block_type":"box","text":"103,095","page_number":39,"box":{"x":358,"y":443,"width":41,"height":7}},{"id":"57bb8476-2b80-4041-93ce-24ce450003d5","block_type":"box","text":"7.08","page_number":39,"box":{"x":450,"y":443,"width":22,"height":6}},{"id":"fc76eb46-e6ab-476f-80dc-0cebeeadc6b5","block_type":"box","text":"14,296,758","page_number":39,"box":{"x":63,"y":453,"width":57,"height":7}},{"id":"76e7ac49-275f-4991-9c6b-48799ba3f4e5","block_type":"box","text":"Royal London Europe ex UK Equity Tilt","page_number":39,"box":{"x":129,"y":453,"width":202,"height":7}},{"id":"0ba17b27-38a5-47c1-85cd-34d98b85c76f","block_type":"box","text":"Fund R Acc","page_number":39,"box":{"x":129,"y":462,"width":60,"height":6}},{"id":"01866fd1-eaa6-4158-917e-d70b28ca3a26","block_type":"box","text":"†","page_number":39,"box":{"x":189,"y":462,"width":3,"height":4}},{"id":"3a82f458-bc8d-4d19-9433-01f73004b54c","block_type":"box","text":"32,178","page_number":39,"box":{"x":364,"y":462,"width":35,"height":7}},{"id":"5e25e368-9b7f-4ecc-99a4-b6b6c1174d93","block_type":"box","text":"2.21","page_number":39,"box":{"x":450,"y":462,"width":20,"height":6}},{"id":"70343aca-6e73-4da7-8600-729bfcbf071f","block_type":"box","text":"40,517,051","page_number":39,"box":{"x":62,"y":472,"width":57,"height":7}},{"id":"2e8f1b17-4a5e-4890-91c8-02621d7bfb1b","block_type":"box","text":"Royal London Global Equity Diversified","page_number":39,"box":{"x":129,"y":471,"width":202,"height":8}},{"id":"5e7c742f-df7b-4a20-91e0-351ff0d2fdec","block_type":"box","text":"Fund R Acc","page_number":39,"box":{"x":129,"y":481,"width":60,"height":6}},{"id":"e00f4178-d481-459e-ab77-2bdc738140af","block_type":"box","text":"†","page_number":39,"box":{"x":189,"y":481,"width":3,"height":4}},{"id":"30a7ac47-6486-4406-b8e6-90b93d41d693","block_type":"box","text":"120,684","page_number":39,"box":{"x":358,"y":481,"width":41,"height":7}},{"id":"a722e150-50fd-4c65-89f4-58fc152090ce","block_type":"box","text":"8.28","page_number":39,"box":{"x":450,"y":481,"width":22,"height":6}},{"id":"88bab1fe-afbf-4976-a7dd-318f87a29b89","block_type":"box","text":"68,505,181","page_number":39,"box":{"x":63,"y":491,"width":56,"height":7}},{"id":"2754f5a5-cd4d-44c2-93ca-70bff9564ed7","block_type":"box","text":"Royal London Global Equity Enhanced","page_number":39,"box":{"x":129,"y":490,"width":200,"height":8}},{"id":"af1e17f5-142b-472a-868e-17d4c7a1552a","block_type":"box","text":"Fund R Acc","page_number":39,"box":{"x":129,"y":500,"width":60,"height":6}},{"id":"95124026-df89-446f-be2f-93a1a37a7191","block_type":"box","text":"†","page_number":39,"box":{"x":189,"y":500,"width":3,"height":4}},{"id":"6745c8f9-5e46-470e-b251-8d6ff0f6a411","block_type":"box","text":"119,713","page_number":39,"box":{"x":359,"y":500,"width":40,"height":7}},{"id":"3e2ab275-994b-44ee-b561-9d86ced2acfb","block_type":"box","text":"8.22","page_number":39,"box":{"x":450,"y":500,"width":22,"height":6}},{"id":"17a3b93d-0863-40ce-81c2-2668c8acc098","block_type":"box","text":"36,503,194","page_number":39,"box":{"x":63,"y":510,"width":57,"height":7}},{"id":"e590f730-efd3-4b34-a458-8bb09499b9cb","block_type":"box","text":"Royal London Global Equity Tilt Fund","page_number":39,"box":{"x":129,"y":509,"width":192,"height":8}},{"id":"bed51a84-fa52-48f5-990f-e135d57c0c99","block_type":"box","text":"R Acc","page_number":39,"box":{"x":129,"y":519,"width":30,"height":6}},{"id":"cb98511f-5def-4eb7-92a1-30fcbe157e04","block_type":"box","text":"†","page_number":39,"box":{"x":159,"y":519,"width":3,"height":4}},{"id":"9a8edb54-8fda-437d-8ed5-2eca889b3de4","block_type":"box","text":"40,661","page_number":39,"box":{"x":364,"y":519,"width":33,"height":7}},{"id":"0ea71bfb-39a8-4345-91ea-97ed09f7d85b","block_type":"box","text":"2.79","page_number":39,"box":{"x":450,"y":519,"width":22,"height":6}},{"id":"02925878-3909-48d3-8e42-414038febf4b","block_type":"box","text":"8,857,939","page_number":39,"box":{"x":69,"y":529,"width":51,"height":7}},{"id":"e21eedfa-c0bc-46c4-8d35-1ae88c9b51fd","block_type":"box","text":"Royal London Japan Equity Tilt Fund","page_number":39,"box":{"x":129,"y":529,"width":190,"height":7}},{"id":"83bfa97c-4cc8-41aa-a2bc-201d164249ce","block_type":"box","text":"R Acc","page_number":39,"box":{"x":129,"y":538,"width":30,"height":6}},{"id":"2c729dcc-5e3c-4374-88f7-2987626618e9","block_type":"box","text":"†","page_number":39,"box":{"x":159,"y":538,"width":3,"height":4}},{"id":"a6cf7123-31b2-409b-be7a-258e59212ec4","block_type":"box","text":"16,536","page_number":39,"box":{"x":365,"y":538,"width":34,"height":7}},{"id":"6cad7044-4c4c-42e2-95e1-ba036aa2d489","block_type":"box","text":"1.13","page_number":39,"box":{"x":451,"y":538,"width":21,"height":6}},{"id":"da2672bf-6bf4-4f68-8471-e8b7ff6a0cab","block_type":"box","text":"3,447,111","page_number":39,"box":{"x":71,"y":548,"width":48,"height":7}},{"id":"83fb22c5-7aa1-41c8-88ef-44a331337f71","block_type":"box","text":"Royal London Property Fund Income","page_number":39,"box":{"x":129,"y":548,"width":191,"height":7}},{"id":"26e34f5f-64f4-422c-b91b-ac2d8f64bf7a","block_type":"box","text":"†","page_number":39,"box":{"x":321,"y":548,"width":3,"height":4}},{"id":"67abc0a6-f85c-44ed-933e-d865cc03e7a9","block_type":"box","text":"10,324","page_number":39,"box":{"x":365,"y":548,"width":34,"height":7}},{"id":"a687cfa9-233c-4f67-b077-b46ea711fba2","block_type":"box","text":"0.71","page_number":39,"box":{"x":450,"y":548,"width":20,"height":6}},{"id":"1106af9a-dc06-4be7-b0f9-cdcff41967b1","block_type":"box","text":"13,281,839","page_number":39,"box":{"x":63,"y":557,"width":57,"height":7}},{"id":"4fa44c41-9396-4ea2-a131-ae371359cb55","block_type":"box","text":"Royal London Property Trust A Acc","page_number":39,"box":{"x":129,"y":557,"width":181,"height":8}},{"id":"6e879d7f-3187-48ea-9759-4690accb2d6a","block_type":"box","text":"†","page_number":39,"box":{"x":310,"y":557,"width":3,"height":4}},{"id":"9c6db48f-791b-4660-a1ac-a666ad47cde4","block_type":"box","text":"117,038","page_number":39,"box":{"x":359,"y":557,"width":40,"height":7}},{"id":"08b62931-58bf-4859-863b-78ca85e0aca1","block_type":"box","text":"8.03","page_number":39,"box":{"x":450,"y":557,"width":22,"height":6}},{"id":"1aae3b41-21fb-4ee0-ba22-9495feadde6a","block_type":"box","text":"103,242,066","page_number":39,"box":{"x":58,"y":567,"width":63,"height":7}},{"id":"1c161526-70d4-4cdf-8d2c-443b6951c1fc","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund","page_number":39,"box":{"x":129,"y":567,"width":209,"height":7}},{"id":"814f20ad-cb0e-45fa-9c03-5a9a11d687a8","block_type":"box","text":"R Acc","page_number":39,"box":{"x":129,"y":576,"width":30,"height":6}},{"id":"27a66e38-8366-4183-a7cf-4448f2595ff0","block_type":"box","text":"†","page_number":39,"box":{"x":159,"y":576,"width":3,"height":4}},{"id":"5687310a-136d-44aa-9d98-ad38c43cfadb","block_type":"box","text":"170,546","page_number":39,"box":{"x":358,"y":576,"width":41,"height":7}},{"id":"0c56eee8-b4e1-4b11-8b8d-eded161c3c10","block_type":"box","text":"11.71","page_number":39,"box":{"x":445,"y":576,"width":25,"height":6}},{"id":"a20da3c0-d57d-46c5-8ad5-c3199413635c","block_type":"box","text":"42,607,650","page_number":39,"box":{"x":62,"y":586,"width":58,"height":7}},{"id":"87083261-1e1b-41b3-b553-c0e1f746fc69","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":39,"box":{"x":129,"y":585,"width":209,"height":8}},{"id":"ed79ddbb-516b-42ca-8e4b-c509533068e7","block_type":"box","text":"†","page_number":39,"box":{"x":339,"y":586,"width":3,"height":4}},{"id":"cb4804a0-8463-4055-9b3d-e629abf28b78","block_type":"box","text":"119,774","page_number":39,"box":{"x":359,"y":586,"width":40,"height":7}},{"id":"2f26aaa1-a522-464a-861d-45ac8048aca6","block_type":"box","text":"8.22","page_number":39,"box":{"x":450,"y":586,"width":22,"height":6}},{"id":"e8d7e250-8266-4934-a05a-f9bc3847730f","block_type":"box","text":"Total Equity Collective Investment Schemes","page_number":39,"box":{"x":57,"y":602,"width":245,"height":8}},{"id":"7a60c7cb-6285-497a-b8a8-47c0ed2fca26","block_type":"box","text":"875,682","page_number":39,"box":{"x":357,"y":602,"width":42,"height":7}},{"id":"f34a6fdd-2977-4d85-96e2-f79c1def8d7d","block_type":"box","text":"60.11","page_number":39,"box":{"x":444,"y":602,"width":26,"height":6}},{"id":"a9c1271e-9cdd-485d-b911-1a5bf510f373","block_type":"box","text":"Exchange Traded Commodities – 0.00% (31/12/25 – 1.00%)","page_number":39,"box":{"x":58,"y":627,"width":330,"height":8}},{"id":"99167f74-6e4b-440f-aa53-9da3bff7d5e3","block_type":"box","text":"Exchange Traded Funds – 5.38% (31/12/25 – 5.66%)","page_number":39,"box":{"x":58,"y":646,"width":289,"height":8}},{"id":"7e5ca910-665a-455e-b7af-fcfdd9ad1e84","block_type":"box","text":"2,668,920","page_number":39,"box":{"x":69,"y":656,"width":51,"height":7}},{"id":"41e334c4-bf9e-40c2-b2d1-cb83e815a442","block_type":"box","text":"Invesco Bloomberg Commodity Carbon","page_number":39,"box":{"x":129,"y":656,"width":203,"height":8}},{"id":"edcefdc7-2956-4185-91d4-a35d9b512365","block_type":"box","text":"Tilted UCITS ETF","page_number":39,"box":{"x":128,"y":665,"width":92,"height":7}},{"id":"0ef0016a-5a69-43c1-bebd-1ab9026938fd","block_type":"box","text":"14,162","page_number":39,"box":{"x":365,"y":666,"width":34,"height":7}},{"id":"9d170817-3629-449a-9ef3-4af637617eed","block_type":"box","text":"0.97","page_number":39,"box":{"x":450,"y":666,"width":22,"height":6}},{"id":"d8837a4f-82c1-4ec4-8b53-bb21f7d2aaf3","block_type":"box","text":"2,521,651","page_number":39,"box":{"x":69,"y":675,"width":50,"height":7}},{"id":"7ec2710b-2ed4-419e-a225-859a463d014f","block_type":"box","text":"iShares Bloomberg Roll Select Commodity","page_number":39,"box":{"x":129,"y":675,"width":221,"height":8}},{"id":"f348dad8-946c-4be1-bac5-ce5f2d8bf1f6","block_type":"box","text":"Swap UCITS ETF","page_number":39,"box":{"x":129,"y":684,"width":92,"height":8}},{"id":"0f4e9983-c17b-4d1a-88e4-432b14f70a26","block_type":"box","text":"19,031","page_number":39,"box":{"x":365,"y":685,"width":32,"height":7}},{"id":"95961388-c7b9-4aac-b2c7-04c257966aa4","block_type":"box","text":"1.31","page_number":39,"box":{"x":451,"y":685,"width":19,"height":6}},{"id":"653baaa8-14b8-4133-a5ba-483d5fad83e7","block_type":"box","text":"36,976","page_number":39,"box":{"x":85,"y":694,"width":35,"height":7}},{"id":"2788da4d-1cde-45a5-a6f5-2c2c7a6540e5","block_type":"box","text":"iShares MSCI Canada UCITS ETF","page_number":39,"box":{"x":129,"y":694,"width":180,"height":6}},{"id":"8cf88404-fb2e-4414-993b-db76e964c865","block_type":"box","text":"8,328","page_number":39,"box":{"x":371,"y":694,"width":28,"height":7}},{"id":"e188bff4-02b2-4756-a75d-42bc960cd1cc","block_type":"box","text":"0.57","page_number":39,"box":{"x":450,"y":694,"width":22,"height":6}},{"id":"d59b90a8-d516-48b0-a53e-470561f395ed","block_type":"box","text":"1,142,248","page_number":39,"box":{"x":70,"y":704,"width":50,"height":7}},{"id":"cd601c9a-ad29-4a6e-8f8a-e6bc9fca756e","block_type":"box","text":"UBS (IRL) Fund Solutions – UCITS ETF","page_number":39,"box":{"x":129,"y":703,"width":208,"height":8}},{"id":"47151e3d-33de-44bf-850a-f462e4087773","block_type":"box","text":"B Acc","page_number":39,"box":{"x":129,"y":713,"width":29,"height":6}},{"id":"6da0d06b-5c26-44f3-a151-7a9fde1854e0","block_type":"box","text":"18,038","page_number":39,"box":{"x":365,"y":713,"width":34,"height":7}},{"id":"f832fa3f-2835-492e-a5d8-5a2da05e2fce","block_type":"box","text":"1.24","page_number":39,"box":{"x":451,"y":713,"width":21,"height":6}},{"id":"21331819-0348-4fed-83b7-30d37c9d627a","block_type":"box","text":"1,250,935","page_number":39,"box":{"x":70,"y":723,"width":50,"height":7}},{"id":"94354a31-2b4c-408d-9783-fde778987a13","block_type":"box","text":"Wisdomtree Enhanced Commodity","page_number":39,"box":{"x":128,"y":722,"width":182,"height":8}},{"id":"5a97207a-6c9e-4fe6-b418-c4802d1451cd","block_type":"box","text":"UCITS ETF","page_number":39,"box":{"x":129,"y":732,"width":59,"height":6}},{"id":"a932c6b3-545f-4bd5-a936-76c583ce90eb","block_type":"box","text":"18,857","page_number":39,"box":{"x":365,"y":732,"width":34,"height":7}},{"id":"8ccdd072-4314-401d-b48d-7390f46ca48a","block_type":"box","text":"1.29","page_number":39,"box":{"x":451,"y":732,"width":21,"height":6}},{"id":"03b6caa7-0313-4e0b-bd25-114fc893791f","block_type":"box","text":"Total Exchange Traded Funds","page_number":39,"box":{"x":57,"y":748,"width":165,"height":8}},{"id":"af7edf1a-6156-44cb-bbf5-687a9a28f85f","block_type":"box","text":"78,416","page_number":39,"box":{"x":364,"y":748,"width":35,"height":8}},{"id":"7210fcbf-8370-4954-be67-256c76d0fe05","block_type":"box","text":"5.38","page_number":39,"box":{"x":450,"y":748,"width":22,"height":6}},{"id":"1d7ae35e-3107-4347-aaa5-6e8e4d9ceba6","block_type":"box","text":"Forward Currency Contracts – 0.07% (31/12/25 – (0.07%))","page_number":39,"box":{"x":58,"y":764,"width":322,"height":8}},{"id":"25bd98c4-358e-444b-89e6-3e7292852430","block_type":"box","text":"Buy AUD8,635,663 & Sell £4,578,065*","page_number":39,"box":{"x":129,"y":774,"width":199,"height":8}},{"id":"32dd96ae-4d6b-4167-bce5-cd12b6817885","block_type":"box","text":"(72)","page_number":39,"box":{"x":383,"y":774,"width":20,"height":8}},{"id":"75f2ea14-7d07-4b7e-8ca0-2ba45a3c8846","block_type":"box","text":"–","page_number":39,"box":{"x":466,"y":778,"width":6,"height":0}},{"id":"dca4919d-c481-41d7-9ad1-7c93ef3add70","block_type":"box","text":"Buy €1,597,425 & Sell £1,382,844*","page_number":39,"box":{"x":129,"y":783,"width":182,"height":8}},{"id":"05b6335d-808b-494b-a00b-67a45145dafa","block_type":"box","text":"(6)","page_number":39,"box":{"x":390,"y":783,"width":13,"height":8}},{"id":"b8f3f80b-f7fa-4b5c-bb40-04cd5970e782","block_type":"box","text":"–","page_number":39,"box":{"x":466,"y":787,"width":6,"height":1}},{"id":"f1328884-f2c8-476f-b83d-6cbf4f4cbab3","block_type":"box","text":"Buy $85,630,202 & Sell £63,818,671*","page_number":39,"box":{"x":129,"y":793,"width":195,"height":8}},{"id":"86a0736c-7a50-4fa1-95ef-7c37afd4f078","block_type":"box","text":"699","page_number":39,"box":{"x":380,"y":793,"width":19,"height":6}},{"id":"dd0a0bfd-88a8-4e75-aa9a-437aec932d5f","block_type":"box","text":"0.05","page_number":39,"box":{"x":450,"y":793,"width":22,"height":6}},{"id":"09924006-ffb1-45da-ac30-f3a171a205f7","block_type":"box","text":"Buy JPY803,259,272 & Sell £3,742,434*","page_number":39,"box":{"x":129,"y":802,"width":210,"height":8}},{"id":"2744b33d-c169-49d1-8afa-72f08da11743","block_type":"box","text":"(13)","page_number":39,"box":{"x":383,"y":802,"width":20,"height":8}},{"id":"d67b35e9-8b0b-4592-b1be-8be104f79c2d","block_type":"box","text":"–","page_number":39,"box":{"x":466,"y":806,"width":6,"height":1}},{"id":"6feb1a7c-3bc3-4dbe-9302-847fe8005ef1","block_type":"box","text":"Buy £5,905 & Sell CAD11,082*","page_number":39,"box":{"x":129,"y":812,"width":160,"height":8}},{"id":"7f5e0168-e53a-4bec-90ae-3a12832bfc4c","block_type":"box","text":"–","page_number":39,"box":{"x":393,"y":816,"width":6,"height":0}},{"id":"4ef61d8f-8b7c-4a61-9b25-1456ab05e7a6","block_type":"box","text":"–","page_number":39,"box":{"x":466,"y":816,"width":6,"height":0}},{"id":"20072fa8-014f-4ffe-9f58-1d16b0c9f6cc","block_type":"box","text":"Buy £3,774,199 & Sell CHF4,013,262*","page_number":39,"box":{"x":129,"y":821,"width":199,"height":8}},{"id":"7e417e5b-6d1a-42cb-9d20-681c369ddca3","block_type":"box","text":"19","page_number":39,"box":{"x":388,"y":822,"width":11,"height":6}},{"id":"2e28eca7-2a51-4f66-8200-cd8da633bfcf","block_type":"box","text":"–","page_number":39,"box":{"x":466,"y":825,"width":6,"height":1}},{"id":"f744b1c8-031f-48b7-b85a-0c5a0dfd1ed9","block_type":"box","text":"Buy £394,953 & Sell $522,603*","page_number":39,"box":{"x":129,"y":831,"width":162,"height":8}},{"id":"47c00aa7-fa79-4056-9bd3-6af614476edf","block_type":"box","text":"1","page_number":39,"box":{"x":394,"y":831,"width":3,"height":6}},{"id":"363a46ff-641b-4d65-a367-58ae6c9187cc","block_type":"box","text":"–","page_number":39,"box":{"x":466,"y":835,"width":6,"height":0}},{"id":"a02802f8-1284-4a0b-bb9c-bbd12b12d996","block_type":"box","text":"Buy £5,445,042 & Sell SEK68,550,903*","page_number":39,"box":{"x":129,"y":840,"width":205,"height":8}},{"id":"8e4059ed-f39a-41c1-9d6b-7a630415c0c3","block_type":"box","text":"103","page_number":39,"box":{"x":381,"y":841,"width":18,"height":6}},{"id":"87969ee7-a7ae-4c50-bf00-8d864ef24539","block_type":"box","text":"0.01","page_number":39,"box":{"x":450,"y":841,"width":20,"height":6}},{"id":"f57d2559-dc24-48de-b41b-69ebf9c8e7c0","block_type":"box","text":"Buy £8,485,909 & Sell AUD16,119,658*","page_number":39,"box":{"x":129,"y":850,"width":205,"height":8}},{"id":"1edee207-8043-4ad5-a69b-7f4e76767c78","block_type":"box","text":"74","page_number":39,"box":{"x":387,"y":850,"width":12,"height":6}},{"id":"79839e8c-95ac-4151-86cd-e69893c58c40","block_type":"box","text":"–","page_number":39,"box":{"x":466,"y":854,"width":6,"height":0}},{"id":"985a69ea-af23-4270-8095-964513f2d4a2","block_type":"box","text":"Buy £5,883,784 & Sell NOK75,264,211*","page_number":39,"box":{"x":129,"y":859,"width":206,"height":8}},{"id":"984c4186-dae3-4c4d-96b0-d58a21913103","block_type":"box","text":"155","page_number":39,"box":{"x":381,"y":860,"width":18,"height":6}},{"id":"f88e67c9-9f80-4eb4-862e-4ee62af0a84e","block_type":"box","text":"0.01","page_number":39,"box":{"x":450,"y":860,"width":20,"height":6}},{"id":"3aefe805-17ce-4515-bb93-7bd30ca9a653","block_type":"box","text":"Buy £6,025,209 & Sell €6,946,556*","page_number":39,"box":{"x":129,"y":869,"width":182,"height":8}},{"id":"086b4e05-7277-433f-b68c-7825f74b7277","block_type":"box","text":"37","page_number":39,"box":{"x":387,"y":869,"width":12,"height":6}},{"id":"be36905d-c235-497d-a224-694d78fbd909","block_type":"box","text":"–","page_number":39,"box":{"x":466,"y":873,"width":6,"height":0}},{"id":"67b7a5e8-6513-4acc-9aee-555f1cb3a413","block_type":"box","text":"Buy SEK33,722,582 & Sell £2,668,370*","page_number":39,"box":{"x":129,"y":878,"width":205,"height":8}},{"id":"c21486e6-4b34-4e8e-aafe-2ff24f4e6900","block_type":"box","text":"(41)","page_number":39,"box":{"x":383,"y":878,"width":20,"height":8}},{"id":"856d25fd-388f-4042-a530-f4d696a2c064","block_type":"box","text":"–","page_number":39,"box":{"x":466,"y":882,"width":6,"height":1}},{"id":"de7d86a7-938a-4314-ae13-132266eafd91","block_type":"box","text":"Buy SGD6,096,524 & Sell £3,551,772*","page_number":39,"box":{"x":129,"y":888,"width":201,"height":8}},{"id":"4a0762a9-9a6b-4207-a903-e7b0b7a381c0","block_type":"box","text":"4","page_number":39,"box":{"x":393,"y":888,"width":6,"height":6}},{"id":"e3514dd5-bf93-49ea-b2aa-9b8398a7ff33","block_type":"box","text":"–","page_number":39,"box":{"x":466,"y":892,"width":6,"height":0}},{"id":"cc907e06-46cd-4316-bc81-e1f2ba34e83c","block_type":"box","text":"Total Forward Currency Contracts","page_number":39,"box":{"x":57,"y":904,"width":189,"height":8}},{"id":"6fa83eff-8296-488d-b21b-c80823f2b18a","block_type":"box","text":"960","page_number":39,"box":{"x":380,"y":904,"width":19,"height":6}},{"id":"19c3e2de-b60c-47ea-ac88-dee78e1dfc60","block_type":"box","text":"0.07","page_number":39,"box":{"x":450,"y":904,"width":22,"height":6}},{"id":"7634cf75-bb3c-4523-ae56-eae09824ecf5","block_type":"box","text":"Holding","page_number":39,"box":{"x":58,"y":177,"width":43,"height":8}},{"id":"0df8ab35-c17f-4311-9743-e34c7712f5b0","block_type":"box","text":"Investment","page_number":39,"box":{"x":129,"y":177,"width":63,"height":6}},{"id":"9be5e182-d808-4427-be62-00bb1087e4c2","block_type":"box","text":"Mid-market","page_number":39,"box":{"x":337,"y":158,"width":65,"height":6}},{"id":"49079bd4-1daf-46f0-a440-09dd18d76669","block_type":"box","text":"value","page_number":39,"box":{"x":371,"y":168,"width":30,"height":6}},{"id":"703667d9-03d1-476b-9fe5-7ffab6a294bf","block_type":"box","text":"(£’000)","page_number":39,"box":{"x":364,"y":177,"width":37,"height":8}},{"id":"f5508669-7c18-4026-a42e-41d53fd35955","block_type":"box","text":"Total net","page_number":39,"box":{"x":424,"y":168,"width":49,"height":6}},{"id":"81907969-8e62-4ac2-b29e-57c59d951359","block_type":"box","text":"assets (%)","page_number":39,"box":{"x":414,"y":177,"width":59,"height":8}},{"id":"789cb93e-5db7-47f5-93d5-af5ce345a0a3","block_type":"box","text":"Holding","page_number":39,"box":{"x":522,"y":177,"width":43,"height":8}},{"id":"2778245c-d9d7-4ba7-a36b-c882817265df","block_type":"box","text":"Investment","page_number":39,"box":{"x":593,"y":177,"width":63,"height":6}},{"id":"f9d2dde3-77a9-43d5-b1b0-57cc98a482a5","block_type":"box","text":"Mid-market","page_number":39,"box":{"x":802,"y":158,"width":64,"height":6}},{"id":"272c2df2-c7f5-4433-abdc-71fd0e99b65b","block_type":"box","text":"value","page_number":39,"box":{"x":835,"y":168,"width":31,"height":6}},{"id":"dc5ad559-579e-455f-a6ef-c28f2af600e8","block_type":"box","text":"(£’000)","page_number":39,"box":{"x":828,"y":177,"width":38,"height":8}},{"id":"512b4b1e-467a-46cc-8dba-df24aefe2cb9","block_type":"box","text":"Total net","page_number":39,"box":{"x":888,"y":168,"width":49,"height":6}},{"id":"9a865fce-9eb6-43bd-aa9d-a3e4d1247013","block_type":"box","text":"assets (%)","page_number":39,"box":{"x":879,"y":177,"width":58,"height":8}},{"id":"b669fee5-8f77-4d17-827e-bf7d797da941","block_type":"box","text":"Futures – 0.07% (31/12/25 – 0.05%)","page_number":39,"box":{"x":522,"y":202,"width":194,"height":7}},{"id":"29d0f55e-92ae-4bd1-a592-e313c818d1ef","block_type":"box","text":"(1,223)","page_number":39,"box":{"x":549,"y":211,"width":36,"height":8}},{"id":"e02ce891-303f-4920-b542-44040bd98833","block_type":"box","text":"CBT BCOM Commodity Index September","page_number":39,"box":{"x":593,"y":211,"width":217,"height":8}},{"id":"3a0f2b46-b906-4a7b-ba61-3afcc14d72ac","block_type":"box","text":"2026","page_number":39,"box":{"x":593,"y":221,"width":25,"height":6}},{"id":"38db172c-a892-4409-89ad-3fcc42db8f96","block_type":"box","text":"297","page_number":39,"box":{"x":845,"y":221,"width":18,"height":6}},{"id":"31c1201b-e71e-4b44-a80f-a3817abd0da9","block_type":"box","text":"0.02","page_number":39,"box":{"x":914,"y":221,"width":22,"height":6}},{"id":"a762acb5-edc3-4b8f-920a-b4dadf64767a","block_type":"box","text":"(119)","page_number":39,"box":{"x":559,"y":230,"width":26,"height":8}},{"id":"2cd3c430-f99a-4342-9f2e-5b88eb579001","block_type":"box","text":"CBT US 10year Note Future September 2026","page_number":39,"box":{"x":593,"y":230,"width":237,"height":8}},{"id":"e3a0758d-a74b-461f-8fc9-013308c09a5d","block_type":"box","text":"(37)","page_number":39,"box":{"x":848,"y":230,"width":19,"height":8}},{"id":"b3923e10-8864-4ddb-9a0b-fa225617c648","block_type":"box","text":"–","page_number":39,"box":{"x":930,"y":234,"width":7,"height":0}},{"id":"3fff9368-ee62-4546-9b08-318a489cdf53","block_type":"box","text":"(83)","page_number":39,"box":{"x":565,"y":240,"width":20,"height":7}},{"id":"b28609b1-ef48-417b-8ba7-6c89e25d15df","block_type":"box","text":"CME S&P E-Mini Consumer Services","page_number":39,"box":{"x":593,"y":240,"width":194,"height":6}},{"id":"ba004509-3b4f-46bf-ad2a-e329a8e0d6f7","block_type":"box","text":"September 2026","page_number":39,"box":{"x":593,"y":249,"width":86,"height":8}},{"id":"74bcc119-e6b8-4580-b390-3b8cae9e1b74","block_type":"box","text":"(61)","page_number":39,"box":{"x":848,"y":249,"width":19,"height":8}},{"id":"b902633e-39a8-4cab-925a-c81deb2d941e","block_type":"box","text":"–","page_number":39,"box":{"x":930,"y":253,"width":7,"height":0}},{"id":"6da74dbf-8e0d-42d9-a690-396945cd617d","block_type":"box","text":"227","page_number":39,"box":{"x":566,"y":259,"width":19,"height":6}},{"id":"965901ca-7f5c-4039-9dcd-9273ac3a3c5b","block_type":"box","text":"CME S&P500 E-Mini Index Future September","page_number":39,"box":{"x":593,"y":259,"width":239,"height":7}},{"id":"cfe10fcb-09b3-4329-aa24-adbb11b6f5e0","block_type":"box","text":"2026","page_number":39,"box":{"x":593,"y":268,"width":25,"height":6}},{"id":"a3957694-48d1-4388-9cc4-389286eda8fe","block_type":"box","text":"412","page_number":39,"box":{"x":844,"y":268,"width":19,"height":6}},{"id":"b61a07fe-1eb8-495c-a5ba-f28d68624426","block_type":"box","text":"0.03","page_number":39,"box":{"x":914,"y":268,"width":22,"height":6}},{"id":"ba2e3b48-14b8-4648-a8b5-de96eb531bf2","block_type":"box","text":"(21)","page_number":39,"box":{"x":565,"y":278,"width":20,"height":7}},{"id":"ad030365-803a-425e-921a-c17211dcdbe9","block_type":"box","text":"CME XAB Material September 2026","page_number":39,"box":{"x":593,"y":278,"width":187,"height":7}},{"id":"bf6ccfe5-eadd-4fe0-8303-3d929e214290","block_type":"box","text":"10","page_number":39,"box":{"x":852,"y":278,"width":11,"height":6}},{"id":"c371023f-c54d-4094-a778-c48bd27e8a20","block_type":"box","text":"–","page_number":39,"box":{"x":930,"y":281,"width":7,"height":1}},{"id":"e1c2d52e-83ea-4a64-a834-9e1c65e23409","block_type":"box","text":"(102)","page_number":39,"box":{"x":558,"y":287,"width":27,"height":8}},{"id":"5b11ca91-1f8d-4302-89fd-d2e0900977ba","block_type":"box","text":"CME XAE Consumer Energy September 2026","page_number":39,"box":{"x":593,"y":287,"width":240,"height":8}},{"id":"bb1cb336-ed60-4ebf-8285-0645d102f31e","block_type":"box","text":"186","page_number":39,"box":{"x":845,"y":287,"width":18,"height":6}},{"id":"066c3f4b-dd1a-471b-92e2-e99a13edb536","block_type":"box","text":"0.01","page_number":39,"box":{"x":914,"y":287,"width":20,"height":6}},{"id":"34d4cbfb-7bed-499e-acbf-cdda82a49b23","block_type":"box","text":"21","page_number":39,"box":{"x":572,"y":297,"width":11,"height":6}},{"id":"e88c0b77-3d81-49aa-aa23-6e489afc87d2","block_type":"box","text":"CME XAF Financial Future September 2026","page_number":39,"box":{"x":593,"y":297,"width":229,"height":7}},{"id":"7bde57fc-4d27-4ab5-92e9-8e4a8c21d5c7","block_type":"box","text":"7","page_number":39,"box":{"x":858,"y":297,"width":5,"height":6}},{"id":"02a475ff-e0ef-4aa4-a217-3693dd09f679","block_type":"box","text":"–","page_number":39,"box":{"x":930,"y":300,"width":7,"height":1}},{"id":"9546d688-6e01-4a52-9153-c62dd5596ee8","block_type":"box","text":"40","page_number":39,"box":{"x":572,"y":306,"width":13,"height":6}},{"id":"045c5368-6305-4823-9f33-1b304f57d79b","block_type":"box","text":"CME XAK Technology Future September 2026","page_number":39,"box":{"x":593,"y":306,"width":242,"height":8}},{"id":"7d4c8359-173d-4d41-8a05-e55b5825e8ed","block_type":"box","text":"(68)","page_number":39,"box":{"x":848,"y":306,"width":19,"height":8}},{"id":"7b18596b-bf27-4fdc-8896-1c0947fb5b81","block_type":"box","text":"–","page_number":39,"box":{"x":930,"y":310,"width":7,"height":0}},{"id":"0d3c91b7-2ab1-492e-8086-fc124e5bd91c","block_type":"box","text":"27","page_number":39,"box":{"x":572,"y":316,"width":13,"height":6}},{"id":"63e3abdd-7f26-4a59-9b8e-e0bf756dea7f","block_type":"box","text":"CME XAP Consumer Staples Future","page_number":39,"box":{"x":593,"y":316,"width":189,"height":7}},{"id":"c1e19b5b-5cc2-4a7b-acf6-f4467b90d88d","block_type":"box","text":"September 2026","page_number":39,"box":{"x":593,"y":325,"width":86,"height":8}},{"id":"026e3386-3923-40bc-8f09-def38bd06a3f","block_type":"box","text":"(30)","page_number":39,"box":{"x":848,"y":325,"width":19,"height":8}},{"id":"51c02f11-f101-4c66-841c-9f0d0e756515","block_type":"box","text":"–","page_number":39,"box":{"x":930,"y":329,"width":7,"height":0}},{"id":"1f5f44c4-faab-4826-a25e-a515043b4995","block_type":"box","text":"173","page_number":39,"box":{"x":567,"y":335,"width":18,"height":6}},{"id":"31c2689b-87a5-476b-81b3-be47d5fd97d3","block_type":"box","text":"CME XAU Utilities Future September 2026","page_number":39,"box":{"x":593,"y":335,"width":221,"height":7}},{"id":"8096369d-a0dd-45d8-8a60-f4ceef34657f","block_type":"box","text":"(262)","page_number":39,"box":{"x":841,"y":335,"width":26,"height":7}},{"id":"2db3ae56-0833-4160-9679-a9a1de51e1d0","block_type":"box","text":"(0.02)","page_number":39,"box":{"x":911,"y":335,"width":29,"height":7}},{"id":"d82c6237-76c9-47df-95c2-7b9ccbe0b624","block_type":"box","text":"64","page_number":39,"box":{"x":573,"y":344,"width":12,"height":6}},{"id":"8209c50a-995c-4281-9282-88553493b769","block_type":"box","text":"CME XAV Health Care September 2026","page_number":39,"box":{"x":593,"y":344,"width":207,"height":8}},{"id":"1e73d89a-1173-4f74-868b-558ee6b8ad53","block_type":"box","text":"280","page_number":39,"box":{"x":845,"y":344,"width":18,"height":6}},{"id":"137556f5-8d30-4f28-925b-5902f8db8198","block_type":"box","text":"0.02","page_number":39,"box":{"x":914,"y":344,"width":22,"height":6}},{"id":"d0cb8ad3-e44f-469b-bcb4-4ef2631e044c","block_type":"box","text":"(90)","page_number":39,"box":{"x":565,"y":354,"width":20,"height":7}},{"id":"6ec56241-e6ee-44a7-a665-5caeac99e24c","block_type":"box","text":"CME XAY Consumer Discretionary Future","page_number":39,"box":{"x":593,"y":354,"width":217,"height":7}},{"id":"ae105c09-1365-4223-9e33-9b60e10a090a","block_type":"box","text":"September 2026","page_number":39,"box":{"x":593,"y":363,"width":86,"height":8}},{"id":"3837965e-8439-4577-b9f2-dc9558c434b9","block_type":"box","text":"(245)","page_number":39,"box":{"x":841,"y":363,"width":26,"height":8}},{"id":"d4863387-3197-4f37-8ac0-c2f6bc1231a3","block_type":"box","text":"(0.02)","page_number":39,"box":{"x":911,"y":363,"width":29,"height":8}},{"id":"1795320e-364c-426d-bc9a-81b9bbdfe34b","block_type":"box","text":"(87)","page_number":39,"box":{"x":565,"y":373,"width":20,"height":7}},{"id":"3f83921a-d276-4acf-9a16-dcc14f2cfca2","block_type":"box","text":"EUX Euro Bund Future September 2026","page_number":39,"box":{"x":593,"y":373,"width":209,"height":7}},{"id":"2657585d-3929-4b61-b3c4-c7280ff5d7b7","block_type":"box","text":"(102)","page_number":39,"box":{"x":841,"y":373,"width":26,"height":7}},{"id":"11b6cd62-c62a-4880-ab5f-6b172808f5d1","block_type":"box","text":"(0.01)","page_number":39,"box":{"x":911,"y":373,"width":29,"height":7}},{"id":"0e7d1d98-b39c-41a9-9f7c-875b58761969","block_type":"box","text":"(85)","page_number":39,"box":{"x":565,"y":382,"width":20,"height":8}},{"id":"f8fecfeb-435e-4e13-99df-9e2249d4d87f","block_type":"box","text":"HKG Hang Seng Index Future July 2026","page_number":39,"box":{"x":593,"y":382,"width":209,"height":8}},{"id":"6b22f060-a70e-4615-91fc-685e15ac4ce4","block_type":"box","text":"202","page_number":39,"box":{"x":845,"y":382,"width":18,"height":6}},{"id":"719523ef-30f0-430e-be68-abe1e029f3ea","block_type":"box","text":"0.01","page_number":39,"box":{"x":914,"y":382,"width":21,"height":6}},{"id":"0526bcaf-b80d-40c9-adff-08c359779f97","block_type":"box","text":"(92)","page_number":39,"box":{"x":565,"y":392,"width":20,"height":7}},{"id":"14bde657-2c79-4382-8c94-487536bb2a58","block_type":"box","text":"ICF FTSE 100 Index Future September 2026","page_number":39,"box":{"x":593,"y":392,"width":233,"height":7}},{"id":"f3a87cec-a08a-4b81-97b3-99be705748ee","block_type":"box","text":"(72)","page_number":39,"box":{"x":848,"y":392,"width":19,"height":7}},{"id":"d3bffd81-0ae6-4c5b-bc51-d876c1662a34","block_type":"box","text":"(0.01)","page_number":39,"box":{"x":911,"y":392,"width":29,"height":7}},{"id":"19b77394-d66b-4748-9c52-d439e46df290","block_type":"box","text":"(106)","page_number":39,"box":{"x":558,"y":401,"width":27,"height":8}},{"id":"dc5db2ab-70aa-4137-813f-4310e97f1743","block_type":"box","text":"ICF Long Gilt Future September 2026","page_number":39,"box":{"x":593,"y":401,"width":196,"height":8}},{"id":"68362184-8a88-42ba-a2ef-2e3728836371","block_type":"box","text":"(120)","page_number":39,"box":{"x":841,"y":401,"width":26,"height":8}},{"id":"11cdfbe7-db6d-49bb-af5b-1d1deb62dc66","block_type":"box","text":"(0.01)","page_number":39,"box":{"x":911,"y":401,"width":29,"height":8}},{"id":"3290ca51-7b9a-4f55-8fbd-62eecaf6b6c4","block_type":"box","text":"364","page_number":39,"box":{"x":566,"y":411,"width":19,"height":6}},{"id":"16da0af3-7f89-4968-9ad0-495ff64925ae","block_type":"box","text":"EUX Euro Stoxx 50 September 2026","page_number":39,"box":{"x":593,"y":411,"width":190,"height":7}},{"id":"4a16cce5-2249-4450-89b5-9be364503103","block_type":"box","text":"310","page_number":39,"box":{"x":845,"y":411,"width":18,"height":6}},{"id":"8649490f-b47b-4637-922e-4d261114cdf1","block_type":"box","text":"0.02","page_number":39,"box":{"x":914,"y":411,"width":22,"height":6}},{"id":"7099eb65-31f1-48c6-ac99-b218849f867f","block_type":"box","text":"457","page_number":39,"box":{"x":566,"y":420,"width":19,"height":6}},{"id":"fc76f309-f424-46eb-9ff6-0839546b8ef4","block_type":"box","text":"NYF MSCI Emerging Market Future","page_number":39,"box":{"x":593,"y":420,"width":185,"height":8}},{"id":"e626dcad-35af-435a-9e16-98022d50f946","block_type":"box","text":"September 2026","page_number":39,"box":{"x":593,"y":430,"width":86,"height":7}},{"id":"0309ffe7-4c09-498b-894c-616ad5d09a54","block_type":"box","text":"(551)","page_number":39,"box":{"x":841,"y":430,"width":26,"height":7}},{"id":"469186eb-1887-4249-b36e-e7a220abe2af","block_type":"box","text":"(0.04)","page_number":39,"box":{"x":911,"y":430,"width":29,"height":7}},{"id":"75ed812b-a14c-4e4b-a00c-9af902930461","block_type":"box","text":"452","page_number":39,"box":{"x":566,"y":439,"width":19,"height":6}},{"id":"e3968e9b-fe55-4a71-b296-151e88169983","block_type":"box","text":"OSE NIKKEI 225 September 2026","page_number":39,"box":{"x":593,"y":439,"width":179,"height":8}},{"id":"955bb8c8-1df4-4085-ae93-5a291011e5ad","block_type":"box","text":"514","page_number":39,"box":{"x":845,"y":439,"width":18,"height":6}},{"id":"65b963d2-2ad1-44fa-a8e0-2dda31068437","block_type":"box","text":"0.04","page_number":39,"box":{"x":914,"y":439,"width":22,"height":6}},{"id":"6ba6cadf-f5c9-41d9-9f28-cf7248833e7b","block_type":"box","text":"82","page_number":39,"box":{"x":573,"y":449,"width":12,"height":6}},{"id":"0c98812b-7c2a-486e-bf7a-9f2ef5ab774a","block_type":"box","text":"OSE TOPIX Index Future September 2026","page_number":39,"box":{"x":593,"y":449,"width":221,"height":7}},{"id":"9f403ab9-1e9f-4bcc-b3ab-a8be058648e2","block_type":"box","text":"122","page_number":39,"box":{"x":845,"y":449,"width":18,"height":6}},{"id":"c2d2379c-e927-43e5-bfba-90d83aa89010","block_type":"box","text":"0.01","page_number":39,"box":{"x":914,"y":449,"width":21,"height":6}},{"id":"c005d5cb-799e-4148-9976-fa9fa5751dd9","block_type":"box","text":"(193)","page_number":39,"box":{"x":558,"y":458,"width":27,"height":8}},{"id":"49361764-605b-4d70-ae7e-3b7dbcf3408b","block_type":"box","text":"SFE SPI 200 Future September 2026","page_number":39,"box":{"x":593,"y":458,"width":194,"height":8}},{"id":"830a2f0a-dfc1-4847-a149-d947d629a63d","block_type":"box","text":"283","page_number":39,"box":{"x":845,"y":458,"width":18,"height":6}},{"id":"228402f6-d47c-47fa-8600-6f0c5eb8c80c","block_type":"box","text":"0.02","page_number":39,"box":{"x":914,"y":458,"width":22,"height":6}},{"id":"539b8d8d-71b6-4f06-8c94-f6aae7f03beb","block_type":"box","text":"Total Futures","page_number":39,"box":{"x":521,"y":474,"width":73,"height":6}},{"id":"c0d4e3c8-22eb-43f6-b893-a26d1e464ea9","block_type":"box","text":"1,075","page_number":39,"box":{"x":835,"y":474,"width":28,"height":8}},{"id":"81fe562b-a361-4373-a1da-9a24c4177bff","block_type":"box","text":"0.07","page_number":39,"box":{"x":914,"y":474,"width":22,"height":6}},{"id":"5efa5c1c-450e-4771-8350-90c5b1b6a4e9","block_type":"box","text":"Total value of investments","page_number":39,"box":{"x":521,"y":516,"width":146,"height":6}},{"id":"1faebe04-ee0a-40bb-9645-f3d336cef0de","block_type":"box","text":"^","page_number":39,"box":{"x":668,"y":516,"width":3,"height":2}},{"id":"ad1fd6fd-c625-4a81-9720-192ed8c45fa7","block_type":"box","text":"1,430,891","page_number":39,"box":{"x":812,"y":516,"width":50,"height":8}},{"id":"aef46924-84de-4463-b45e-350a077d84bd","block_type":"box","text":"98.22","page_number":39,"box":{"x":908,"y":516,"width":28,"height":6}},{"id":"71e4b166-bb8a-472b-8598-910d70a1eca5","block_type":"box","text":"Net other assets","page_number":39,"box":{"x":522,"y":533,"width":90,"height":6}},{"id":"6f31adb0-09c1-4035-b72e-e2b21363663f","block_type":"box","text":"25,880","page_number":39,"box":{"x":828,"y":533,"width":35,"height":7}},{"id":"1ded1790-f246-4414-b61a-9b7edcf2c9c4","block_type":"box","text":"1.78","page_number":39,"box":{"x":915,"y":533,"width":21,"height":6}},{"id":"891e30f9-57f8-4fe3-8395-fcf8482361ec","block_type":"box","text":"Total net assets","page_number":39,"box":{"x":521,"y":549,"width":87,"height":6}},{"id":"717e242b-e974-4202-950f-d3cb918df0b2","block_type":"box","text":"1,456,771","page_number":39,"box":{"x":812,"y":549,"width":50,"height":7}},{"id":"69a65b6c-3de2-46b7-84a6-da6ca4750037","block_type":"box","text":"100.00","page_number":39,"box":{"x":902,"y":549,"width":34,"height":6}},{"id":"61fa9795-cabd-42d6-8e8e-65452a2a2608","block_type":"box","text":"†","page_number":39,"box":{"x":521,"y":566,"width":4,"height":5}},{"id":"a9caffda-98bc-45cd-884d-18cd6eafa2d8","block_type":"box","text":"Related Party","page_number":39,"box":{"x":529,"y":566,"width":72,"height":8}},{"id":"73f350d4-7006-4185-ad9c-f307353893a7","block_type":"box","text":"* Unlisted, nil value","page_number":39,"box":{"x":521,"y":580,"width":102,"height":7}},{"id":"c5a14b4a-1a3b-4d71-9cfd-58da917cd9dd","block_type":"box","text":"^","page_number":39,"box":{"x":521,"y":594,"width":3,"height":2}},{"id":"7e1263b6-c397-4eca-9cf5-ab41019cf5b4","block_type":"box","text":"Including investment liabilities","page_number":39,"box":{"x":529,"y":594,"width":157,"height":8}},{"id":"4c73fe52-4e50-47f1-bdac-a497eef4d1cf","block_type":"box","text":"All investments, except collective investment schemes and forward currency","page_number":39,"box":{"x":521,"y":608,"width":421,"height":8}},{"id":"25a2b4f4-5f65-44d4-a1f0-641abcd09a4c","block_type":"box","text":"contracts, are listed on recognised stock exchanges and are “approved","page_number":39,"box":{"x":521,"y":619,"width":420,"height":8}},{"id":"8749e941-aa16-4966-9ba3-5b1ef5e29ab3","block_type":"box","text":"securities” within the meaning of the FCA rules unless otherwise stated.","page_number":39,"box":{"x":521,"y":630,"width":381,"height":8}},{"id":"e47e4c5e-caa9-4464-8abc-1c0634e7eae0","block_type":"box","text":"Royal London GMAP Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":39,"box":{"x":514,"y":33,"width":399,"height":8}},{"id":"19958169-81ab-49d9-8455-9c7b00fc2bc3","block_type":"box","text":"39","page_number":39,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"711f4706-f062-4289-862a-3b2f4a14f02b","block_type":"box","text":"Summary of Material Portfolio Changes","page_number":40,"box":{"x":57,"y":94,"width":470,"height":14}},{"id":"442d6288-57c2-420e-96a4-30b53d03d941","block_type":"box","text":"For the six month period ended 30","page_number":40,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"f35e71c3-4593-4791-809e-b8fe7a012c1b","block_type":"box","text":"June 2026","page_number":40,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"fc88e032-b8a2-4a9c-8a2f-2ae7513320a4","block_type":"box","text":"Significant Purchases","page_number":40,"box":{"x":57,"y":151,"width":203,"height":11}},{"id":"f36b9e91-309d-4a69-9f86-14975933eceb","block_type":"box","text":"Cost","page_number":40,"box":{"x":447,"y":177,"width":26,"height":6}},{"id":"6d6479a8-deef-4fb9-a5ba-6d3670806fc0","block_type":"box","text":"£’000","page_number":40,"box":{"x":443,"y":186,"width":30,"height":6}},{"id":"77eb4a14-846b-43e3-b885-6c244bd8a796","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":40,"box":{"x":58,"y":205,"width":214,"height":7}},{"id":"df696c70-593c-4bbf-940d-a885c0295bde","block_type":"box","text":"65,136","page_number":40,"box":{"x":438,"y":205,"width":35,"height":7}},{"id":"fa62be12-26ae-4ce2-a128-6814c39e933f","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":40,"box":{"x":58,"y":222,"width":295,"height":8}},{"id":"11d8f314-7a92-48f3-876c-bd43e1e99fb6","block_type":"box","text":"26,851","page_number":40,"box":{"x":437,"y":222,"width":34,"height":7}},{"id":"8dbeeab8-1cfb-444e-b1ea-2958f233e6d4","block_type":"box","text":"Royal London UK Government Bond Fund R Acc","page_number":40,"box":{"x":58,"y":240,"width":259,"height":7}},{"id":"e9cdfa8d-704e-4519-90dc-7155ad796b3e","block_type":"box","text":"26,322","page_number":40,"box":{"x":437,"y":240,"width":36,"height":7}},{"id":"d457aa2b-c47a-452c-bfe4-d7e3d63b8465","block_type":"box","text":"Royal London International Government Bond Fund R Acc","page_number":40,"box":{"x":58,"y":257,"width":309,"height":8}},{"id":"01bc9f99-c3a7-41aa-a7f9-c89158f51007","block_type":"box","text":"20,455","page_number":40,"box":{"x":437,"y":257,"width":36,"height":7}},{"id":"51e0ae16-04e9-4ade-a752-d2db7764326c","block_type":"box","text":"Invesco Physical Gold ETC","page_number":40,"box":{"x":58,"y":275,"width":144,"height":7}},{"id":"2f27f53f-a3b7-4eab-97ba-535b45a5b360","block_type":"box","text":"19,898","page_number":40,"box":{"x":438,"y":275,"width":35,"height":7}},{"id":"19dcad2c-1955-43e9-8917-e4e495c1f800","block_type":"box","text":"Wisdomtree Enhanced C ETF","page_number":40,"box":{"x":57,"y":292,"width":159,"height":6}},{"id":"cf5a2eac-db17-4fa2-b92d-ee2a10552879","block_type":"box","text":"19,643","page_number":40,"box":{"x":438,"y":292,"width":35,"height":7}},{"id":"dd1d9308-ea55-4ffc-aaf7-f253a60dacc1","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":40,"box":{"x":58,"y":310,"width":249,"height":7}},{"id":"51e825fc-2166-4564-9bea-fc4a21e75d50","block_type":"box","text":"18,448","page_number":40,"box":{"x":438,"y":310,"width":35,"height":7}},{"id":"8b7115f5-8b1f-4ad2-af5e-197f54405ad0","block_type":"box","text":"iShares Physical Gold ETC","page_number":40,"box":{"x":57,"y":327,"width":144,"height":8}},{"id":"d6fdcf10-4ff2-408e-898b-1b1381c12c3f","block_type":"box","text":"9,987","page_number":40,"box":{"x":444,"y":327,"width":29,"height":7}},{"id":"a17c542e-ff76-4d5b-9265-772cfc36c7ab","block_type":"box","text":"Royal London Global Equity Diversified Fund R Acc","page_number":40,"box":{"x":58,"y":345,"width":273,"height":7}},{"id":"17b23a50-f8b4-4945-8883-2d544714804e","block_type":"box","text":"7,028","page_number":40,"box":{"x":445,"y":345,"width":28,"height":7}},{"id":"4d136df5-02a4-4659-b8f4-52cae359d86a","block_type":"box","text":"Royal London Emerging Markets Corporate Bond Fund R Acc","page_number":40,"box":{"x":58,"y":362,"width":327,"height":8}},{"id":"37beeb18-6df7-495e-aee9-ee99ce39bc0e","block_type":"box","text":"6,636","page_number":40,"box":{"x":443,"y":362,"width":30,"height":7}},{"id":"81873d14-96e6-4705-af21-bdb1c4b08bca","block_type":"box","text":"Subtotal","page_number":40,"box":{"x":57,"y":380,"width":48,"height":6}},{"id":"f036e505-8a09-4e0b-b46a-618f3fe79943","block_type":"box","text":"220,404","page_number":40,"box":{"x":429,"y":380,"width":44,"height":7}},{"id":"3fd5c1ba-ff25-4ff2-b6ce-1b80ff2d1280","block_type":"box","text":"Total cost of purchases, including the above, for the period","page_number":40,"box":{"x":57,"y":397,"width":339,"height":8}},{"id":"d81dd8b9-6dab-4f29-b1c7-2855c189a259","block_type":"box","text":"253,680","page_number":40,"box":{"x":430,"y":397,"width":43,"height":8}},{"id":"13e0152f-5111-451c-8053-1b732dbfd3e2","block_type":"box","text":"Significant Sales","page_number":40,"box":{"x":522,"y":151,"width":156,"height":11}},{"id":"9359ecc8-ff7d-422d-9d1a-102a8d18309e","block_type":"box","text":"Proceeds","page_number":40,"box":{"x":884,"y":177,"width":53,"height":6}},{"id":"b928ee40-4fbb-4395-a247-5f8b154f78ea","block_type":"box","text":"£’000","page_number":40,"box":{"x":907,"y":186,"width":30,"height":6}},{"id":"99c32304-9d32-43e4-aa29-11f5c914672a","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":40,"box":{"x":522,"y":205,"width":250,"height":7}},{"id":"ba6e7811-0590-4659-b40d-5343ad8a5d25","block_type":"box","text":"37,227","page_number":40,"box":{"x":902,"y":205,"width":35,"height":7}},{"id":"be92a0a7-7730-4982-9275-27d1f53d06e2","block_type":"box","text":"Invesco Physical Gold ETC","page_number":40,"box":{"x":522,"y":222,"width":144,"height":8}},{"id":"7d630387-a886-451a-a952-2ad0b4d5572d","block_type":"box","text":"27,357","page_number":40,"box":{"x":902,"y":222,"width":35,"height":7}},{"id":"de5bbc0e-ca32-4a7a-bb05-ce721ac87ac5","block_type":"box","text":"Royal London Global High Yield Bond Fund R Acc","page_number":40,"box":{"x":522,"y":240,"width":266,"height":7}},{"id":"de6c3739-a1bb-414c-a511-9e89aa288ee1","block_type":"box","text":"25,699","page_number":40,"box":{"x":901,"y":240,"width":36,"height":7}},{"id":"0f65aa2b-d4b5-4733-b0e7-911b6b30e383","block_type":"box","text":"iShares Bloomberg Roll Select Commodity Swap UCITS ETF","page_number":40,"box":{"x":522,"y":257,"width":325,"height":8}},{"id":"56e2f5c9-be0d-4816-ab58-0a986601c375","block_type":"box","text":"25,317","page_number":40,"box":{"x":902,"y":257,"width":35,"height":7}},{"id":"ebed5bf9-f917-4b4a-b733-5b6fd62c9f74","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":40,"box":{"x":522,"y":275,"width":295,"height":7}},{"id":"e833486c-49b7-492f-a561-0ef4f13cd739","block_type":"box","text":"21,897","page_number":40,"box":{"x":902,"y":275,"width":35,"height":7}},{"id":"64944c28-dfc2-4211-8e92-718f3474105a","block_type":"box","text":"iShares Physical Gold ETC","page_number":40,"box":{"x":522,"y":292,"width":144,"height":8}},{"id":"debd6529-ca87-4353-9db9-dd7ba8b236b9","block_type":"box","text":"17,784","page_number":40,"box":{"x":904,"y":292,"width":33,"height":7}},{"id":"c4a01fee-2f00-4d61-998e-72b01ca2e919","block_type":"box","text":"Royal London Global Equity Enhanced Fund R Acc","page_number":40,"box":{"x":522,"y":310,"width":271,"height":7}},{"id":"d38e5ef7-9da7-493f-8bcc-95608ebaaad3","block_type":"box","text":"8,146","page_number":40,"box":{"x":909,"y":310,"width":28,"height":7}},{"id":"0add8949-8617-4db5-b0eb-f90576f7df0a","block_type":"box","text":"Royal London Global Equity Diversified Fund R Acc","page_number":40,"box":{"x":522,"y":327,"width":274,"height":8}},{"id":"7c5f3cc6-7f98-4369-bf45-5d8a86c4eae4","block_type":"box","text":"8,093","page_number":40,"box":{"x":908,"y":327,"width":29,"height":7}},{"id":"cd6c1da3-1a3c-4411-93d9-240f2babef0f","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":40,"box":{"x":522,"y":345,"width":214,"height":7}},{"id":"340a9d24-606f-49b2-9efe-af7fa01cf2a2","block_type":"box","text":"6,447","page_number":40,"box":{"x":908,"y":345,"width":29,"height":7}},{"id":"a165e6b3-4847-418b-bc4a-ed4b86b1e783","block_type":"box","text":"Invesco Bloomberg Commodity Carbon Tilted UCITS ETF","page_number":40,"box":{"x":522,"y":362,"width":307,"height":8}},{"id":"c413c814-8f76-4c6c-9d4a-b5877ebf65dd","block_type":"box","text":"4,233","page_number":40,"box":{"x":907,"y":362,"width":30,"height":7}},{"id":"baeb5984-e34e-4102-b3e8-3687d646032c","block_type":"box","text":"Subtotal","page_number":40,"box":{"x":521,"y":380,"width":48,"height":6}},{"id":"6e46480c-0ce0-4b57-a901-e2d248e8b872","block_type":"box","text":"182,200","page_number":40,"box":{"x":895,"y":380,"width":42,"height":7}},{"id":"f85df6a5-61c2-46ef-b053-1edcf8533dda","block_type":"box","text":"Total proceeds from sales, including the above, for the period","page_number":40,"box":{"x":521,"y":397,"width":347,"height":8}},{"id":"6b2c67e7-01a7-4468-a103-f1f483e12ffe","block_type":"box","text":"194,398","page_number":40,"box":{"x":895,"y":397,"width":42,"height":8}},{"id":"ce4eaa83-5a8c-43d9-ad6c-9a8d463fbd58","block_type":"box","text":"Royal London GMAP Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":40,"box":{"x":514,"y":33,"width":399,"height":8}},{"id":"71b092d4-ed0e-419d-bfd7-62d8dd485bd7","block_type":"box","text":"40","page_number":40,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"2d5ed9ab-5b8a-499b-a4b8-072e22e157e8","block_type":"box","text":"Financial Statements","page_number":41,"box":{"x":58,"y":94,"width":253,"height":11}},{"id":"38acad94-0da4-43f2-b06e-b84e5610c3fb","block_type":"box","text":"Statement of Total Return","page_number":41,"box":{"x":57,"y":151,"width":241,"height":9}},{"id":"dec1a0fe-1e21-4b24-b744-cbfb12b02ab6","block_type":"box","text":"For the six month period ended 30","page_number":41,"box":{"x":58,"y":169,"width":231,"height":10}},{"id":"48c7447d-5c58-4fa9-8688-6d9aaf1d9eb3","block_type":"box","text":"June 2026","page_number":41,"box":{"x":294,"y":169,"width":70,"height":8}},{"id":"e0b668a6-72ef-4a33-b425-3812971adcf3","block_type":"box","text":"30 Jun 2026","page_number":41,"box":{"x":264,"y":198,"width":66,"height":6}},{"id":"bc940425-a91a-41ee-8044-6d5c8388e3f0","block_type":"box","text":"30 Jun 2025","page_number":41,"box":{"x":407,"y":198,"width":66,"height":6}},{"id":"0eb3abe3-6229-467f-8045-913262836ccc","block_type":"box","text":"£’000","page_number":41,"box":{"x":229,"y":207,"width":29,"height":6}},{"id":"06cf5838-2f6a-46c9-80d7-a19418fa0446","block_type":"box","text":"£’000","page_number":41,"box":{"x":300,"y":207,"width":30,"height":6}},{"id":"9b1767bb-dde2-4db5-abdb-8e07b555970f","block_type":"box","text":"£’000","page_number":41,"box":{"x":371,"y":207,"width":30,"height":6}},{"id":"ae9cf7e8-aa7f-40f8-92b3-7ccc7acd2f04","block_type":"box","text":"£’000","page_number":41,"box":{"x":443,"y":207,"width":30,"height":6}},{"id":"b753fc71-c44b-470c-9654-95796dcbd0a3","block_type":"box","text":"Income","page_number":41,"box":{"x":58,"y":226,"width":38,"height":6}},{"id":"fe316e28-3a57-48e0-a0a7-64c387427f55","block_type":"box","text":"Net capital gains","page_number":41,"box":{"x":69,"y":243,"width":88,"height":8}},{"id":"2f63ffac-6d15-4d01-b7a1-26d2263f1a68","block_type":"box","text":"107,745","page_number":41,"box":{"x":291,"y":243,"width":39,"height":8}},{"id":"c74dbd1e-06ef-4e84-938e-761f9de69b03","block_type":"box","text":"18,371","page_number":41,"box":{"x":439,"y":243,"width":32,"height":8}},{"id":"9c983901-20f7-4dc1-960c-27d82fd8606b","block_type":"box","text":"Revenue","page_number":41,"box":{"x":69,"y":261,"width":47,"height":6}},{"id":"0948728c-ffa0-4dce-ba57-79cffbea4844","block_type":"box","text":"13,025","page_number":41,"box":{"x":224,"y":261,"width":35,"height":7}},{"id":"f055842b-c020-4779-a483-bc2b865401ae","block_type":"box","text":"9,862","page_number":41,"box":{"x":372,"y":261,"width":29,"height":7}},{"id":"30a1750d-5d6a-4a99-bf59-ef4a267ef50a","block_type":"box","text":"Expenses","page_number":41,"box":{"x":58,"y":278,"width":51,"height":8}},{"id":"756d854a-e4e6-45ec-baaf-21c70b343816","block_type":"box","text":"(1,803)","page_number":41,"box":{"x":227,"y":278,"width":36,"height":8}},{"id":"445c4dda-9b6a-4743-9f59-353adc1c5f30","block_type":"box","text":"(1,389)","page_number":41,"box":{"x":369,"y":278,"width":36,"height":8}},{"id":"d15691cf-b34a-4381-b1b1-97c6843bd1a7","block_type":"box","text":"Net revenue before","page_number":41,"box":{"x":58,"y":296,"width":101,"height":6}},{"id":"a7d626ef-08e3-46f6-ba8e-f4a9b213e324","block_type":"box","text":"taxation","page_number":41,"box":{"x":57,"y":305,"width":42,"height":6}},{"id":"9754d6c4-7cc7-4b62-8d2c-50b555d094d6","block_type":"box","text":"11,222","page_number":41,"box":{"x":224,"y":296,"width":34,"height":7}},{"id":"67b5b4b0-279a-4296-be2a-c68e7a2eec08","block_type":"box","text":"8,473","page_number":41,"box":{"x":373,"y":296,"width":28,"height":7}},{"id":"26b09790-2049-41d3-948a-027a2c3254dc","block_type":"box","text":"Taxation","page_number":41,"box":{"x":57,"y":323,"width":44,"height":6}},{"id":"9cb81853-d95d-4b8c-9322-c8edd4759124","block_type":"box","text":"(1,596)","page_number":41,"box":{"x":226,"y":323,"width":37,"height":8}},{"id":"65024642-a638-47eb-9e0d-e00fc94acb55","block_type":"box","text":"(1,242)","page_number":41,"box":{"x":370,"y":323,"width":35,"height":8}},{"id":"42bbd9b0-f8f8-48b5-ad17-329b27b9382e","block_type":"box","text":"Net revenue after","page_number":41,"box":{"x":58,"y":340,"width":92,"height":6}},{"id":"5e877257-c2e5-475e-8e6a-928bf5a38cdc","block_type":"box","text":"taxation","page_number":41,"box":{"x":57,"y":350,"width":42,"height":6}},{"id":"6904eb5e-0c95-485c-a7a6-c2e86298186c","block_type":"box","text":"9,626","page_number":41,"box":{"x":301,"y":340,"width":29,"height":8}},{"id":"7e72f946-3a63-4e57-9c3d-c0554178b267","block_type":"box","text":"7,231","page_number":41,"box":{"x":445,"y":340,"width":26,"height":8}},{"id":"cdcdebd7-350c-4dfb-aeda-c349982ea3b3","block_type":"box","text":"Total return before","page_number":41,"box":{"x":57,"y":367,"width":98,"height":6}},{"id":"64205377-ac93-42d0-96ca-321da7dcfcd7","block_type":"box","text":"distributions","page_number":41,"box":{"x":57,"y":377,"width":64,"height":6}},{"id":"41d30e95-81d5-4376-a4e4-2051cb756a4c","block_type":"box","text":"117,371","page_number":41,"box":{"x":292,"y":367,"width":36,"height":8}},{"id":"464c88dc-9e2a-4c6d-a340-4f3e1c3d9cfb","block_type":"box","text":"25,602","page_number":41,"box":{"x":437,"y":367,"width":36,"height":8}},{"id":"ae1e8d76-efce-4ce7-8a09-893920775a5b","block_type":"box","text":"Distributions","page_number":41,"box":{"x":58,"y":394,"width":65,"height":6}},{"id":"36091cd0-9eb6-4b67-8f30-2d3e6f07b128","block_type":"box","text":"(9,650)","page_number":41,"box":{"x":297,"y":394,"width":37,"height":8}},{"id":"31d62bca-72e9-4bc7-aaf7-1364b32232e9","block_type":"box","text":"(6,924)","page_number":41,"box":{"x":440,"y":394,"width":37,"height":8}},{"id":"072c5ddd-c194-4308-ad97-b6d7fbeb88f2","block_type":"box","text":"Change in net assets","page_number":41,"box":{"x":57,"y":412,"width":120,"height":8}},{"id":"580fd358-87a0-491d-8d00-f1f4ca1f00e1","block_type":"box","text":"attributable to","page_number":41,"box":{"x":57,"y":421,"width":81,"height":6}},{"id":"9b5e29d4-0106-4ad6-a32a-61dafec4d8d3","block_type":"box","text":"shareholders from","page_number":41,"box":{"x":57,"y":431,"width":106,"height":6}},{"id":"34aca008-39b1-4e6b-84f7-6dbeae4bfd9e","block_type":"box","text":"investment activities","page_number":41,"box":{"x":57,"y":440,"width":119,"height":6}},{"id":"1600eadc-965e-4a4d-b4f2-68ddcdfb61fc","block_type":"box","text":"107,721","page_number":41,"box":{"x":290,"y":412,"width":39,"height":7}},{"id":"e4811c69-3875-44a1-8c75-89219dde7626","block_type":"box","text":"18,678","page_number":41,"box":{"x":438,"y":412,"width":35,"height":7}},{"id":"2ff92af2-1365-4e00-a124-d74b9ccae6fb","block_type":"box","text":"Statement of Change in Net Assets","page_number":41,"box":{"x":57,"y":486,"width":332,"height":11}},{"id":"2e3d3139-2dff-405c-8d12-18f9cf91530d","block_type":"box","text":"Attributable to Shareholders","page_number":41,"box":{"x":57,"y":500,"width":265,"height":9}},{"id":"98dfd680-545b-4e27-a692-fc8eba4fd6cc","block_type":"box","text":"For the six month period ended 30","page_number":41,"box":{"x":58,"y":518,"width":231,"height":10}},{"id":"537fba34-6528-4b8d-bb9f-24c3f9b39005","block_type":"box","text":"June 2026","page_number":41,"box":{"x":294,"y":518,"width":70,"height":8}},{"id":"d092de06-bd3e-421a-b519-c2286f572f0b","block_type":"box","text":"30 Jun 2026","page_number":41,"box":{"x":264,"y":547,"width":66,"height":6}},{"id":"76ab628c-1720-4762-8d42-f9373ad9819c","block_type":"box","text":"30 Jun 2025","page_number":41,"box":{"x":407,"y":547,"width":66,"height":6}},{"id":"43403805-5ab3-47ce-9c47-19887f06f446","block_type":"box","text":"£’000","page_number":41,"box":{"x":229,"y":556,"width":29,"height":6}},{"id":"f0dfb47f-971f-4cae-950d-e1bf2360437f","block_type":"box","text":"£’000","page_number":41,"box":{"x":300,"y":556,"width":30,"height":6}},{"id":"45274dea-8582-4a52-a0d4-5123ea1f69f9","block_type":"box","text":"£’000","page_number":41,"box":{"x":371,"y":556,"width":30,"height":6}},{"id":"22af2d64-1a66-4d1c-94d4-77589f4d6df6","block_type":"box","text":"£’000","page_number":41,"box":{"x":443,"y":556,"width":30,"height":6}},{"id":"aaab2e49-d5d4-4d16-8aaa-8e7fd53535dd","block_type":"box","text":"Opening net assets","page_number":41,"box":{"x":57,"y":575,"width":111,"height":7}},{"id":"d8eb35e3-d93e-494a-86a7-139066026dda","block_type":"box","text":"attributable to","page_number":41,"box":{"x":57,"y":584,"width":81,"height":6}},{"id":"a69cda9a-0f22-4de1-a85d-b4e09bc4a514","block_type":"box","text":"shareholders","page_number":41,"box":{"x":57,"y":594,"width":76,"height":6}},{"id":"a291c5be-8a3d-4fa8-a3ba-f14d15afe9b6","block_type":"box","text":"1,333,983","page_number":41,"box":{"x":277,"y":575,"width":53,"height":7}},{"id":"a871764c-1b39-4556-b888-57d6b960f223","block_type":"box","text":"850,203","page_number":41,"box":{"x":430,"y":575,"width":43,"height":7}},{"id":"3cd624f5-3be3-47f1-8877-5c781adc7216","block_type":"box","text":"Issue of units","page_number":41,"box":{"x":58,"y":611,"width":69,"height":6}},{"id":"14a3262f-d8ff-43b2-96fe-4de4e8c0e8cc","block_type":"box","text":"62,100","page_number":41,"box":{"x":224,"y":611,"width":34,"height":7}},{"id":"1251714b-a9c7-4f88-8451-115cbc747d9a","block_type":"box","text":"377,130","page_number":41,"box":{"x":361,"y":611,"width":40,"height":7}},{"id":"0a5ae607-fd92-4691-966c-61fac23e72a6","block_type":"box","text":"Cancellation of units","page_number":41,"box":{"x":57,"y":629,"width":108,"height":6}},{"id":"15f538b6-c38a-476a-a375-f4e0382bcf02","block_type":"box","text":"(56,570)","page_number":41,"box":{"x":219,"y":629,"width":44,"height":7}},{"id":"9b8a9308-1e3e-4334-ae81-fed19bcf8a4e","block_type":"box","text":"(38,932)","page_number":41,"box":{"x":362,"y":629,"width":43,"height":7}},{"id":"c6d4f0fb-8cea-40e5-be60-6225615de28a","block_type":"box","text":"5,530","page_number":41,"box":{"x":300,"y":646,"width":30,"height":7}},{"id":"ed3a86ed-c581-4ab8-bd46-6024f078c542","block_type":"box","text":"338,198","page_number":41,"box":{"x":431,"y":646,"width":42,"height":7}},{"id":"3a966dab-b43b-43c2-bef3-b1ada7bbc0d3","block_type":"box","text":"Dilution adjustment","page_number":41,"box":{"x":58,"y":664,"width":101,"height":7}},{"id":"20fc15b8-e820-45fa-8a9b-43c77263ca24","block_type":"box","text":"–","page_number":41,"box":{"x":324,"y":667,"width":6,"height":1}},{"id":"356ba09f-f11b-4f78-a22a-43fbace0a8a8","block_type":"box","text":"1,129","page_number":41,"box":{"x":446,"y":664,"width":27,"height":7}},{"id":"6d85da61-5ff7-4951-84a3-44060a9d41f7","block_type":"box","text":"Stamp duty reserve tax","page_number":41,"box":{"x":57,"y":681,"width":124,"height":8}},{"id":"bdcd7a8a-95fe-44b3-95e4-bf1e54bf8c71","block_type":"box","text":"(1)","page_number":41,"box":{"x":322,"y":681,"width":12,"height":8}},{"id":"8beb5c06-3b2a-4ce0-b0f9-8107efad6be6","block_type":"box","text":"(18)","page_number":41,"box":{"x":458,"y":681,"width":19,"height":8}},{"id":"cf35b2ed-a3e5-4ddb-9fdd-b95189d106f6","block_type":"box","text":"Change in net","page_number":41,"box":{"x":57,"y":699,"width":74,"height":7}},{"id":"df85f7bb-6106-422a-9abd-8c5cfad005ea","block_type":"box","text":"assets attributable","page_number":41,"box":{"x":57,"y":708,"width":98,"height":6}},{"id":"9610e14a-b754-43c1-9a49-b161356964d9","block_type":"box","text":"to shareholders from","page_number":41,"box":{"x":57,"y":718,"width":110,"height":6}},{"id":"fdec4cba-0f06-4bbd-9471-abf30a2b28f2","block_type":"box","text":"investment activities","page_number":41,"box":{"x":57,"y":727,"width":108,"height":6}},{"id":"a0b3fc1e-1631-4091-91f6-a3038814c9fe","block_type":"box","text":"107,721","page_number":41,"box":{"x":291,"y":699,"width":37,"height":7}},{"id":"4435b887-82d5-4d91-ae31-7d727ebf3895","block_type":"box","text":"18,678","page_number":41,"box":{"x":438,"y":699,"width":35,"height":7}},{"id":"2f6c2266-4107-4770-bfcd-877d547e9e79","block_type":"box","text":"Retained distributions on","page_number":41,"box":{"x":58,"y":745,"width":131,"height":6}},{"id":"633e6556-b913-487a-a195-20087b320f38","block_type":"box","text":"accumulation shares","page_number":41,"box":{"x":57,"y":754,"width":110,"height":6}},{"id":"b38a6cbe-dc02-4b76-bed8-f9b373f5b0b0","block_type":"box","text":"9,538","page_number":41,"box":{"x":301,"y":745,"width":29,"height":7}},{"id":"5ed5a016-71fd-4e93-83eb-270e0b7c9052","block_type":"box","text":"8,679","page_number":41,"box":{"x":444,"y":745,"width":29,"height":7}},{"id":"9104a673-bca8-41c3-935d-b321eeb39d62","block_type":"box","text":"Closing net assets","page_number":41,"box":{"x":57,"y":772,"width":106,"height":7}},{"id":"8a59eaeb-a5cf-4aad-9a64-3a697bdce940","block_type":"box","text":"attributable to","page_number":41,"box":{"x":57,"y":781,"width":81,"height":6}},{"id":"3695423f-1655-4b52-8a23-47abf99c9223","block_type":"box","text":"shareholders","page_number":41,"box":{"x":57,"y":791,"width":76,"height":6}},{"id":"8f3feebd-a6a5-43e4-b808-01d55e753911","block_type":"box","text":"1,456,771","page_number":41,"box":{"x":278,"y":772,"width":51,"height":7}},{"id":"6ca51c0e-65fc-45a2-989d-31b5534a357f","block_type":"box","text":"1,216,869","page_number":41,"box":{"x":421,"y":772,"width":52,"height":7}},{"id":"aec1489f-46dd-4597-9142-4fad38021a10","block_type":"box","text":"Balance Sheet","page_number":41,"box":{"x":522,"y":151,"width":134,"height":9}},{"id":"d84028e4-addd-4e35-b9fe-f469d18e9b49","block_type":"box","text":"As at 30","page_number":41,"box":{"x":521,"y":169,"width":55,"height":8}},{"id":"b763e457-4c21-4909-bb98-82c01845775a","block_type":"box","text":"June 2026","page_number":41,"box":{"x":582,"y":169,"width":70,"height":8}},{"id":"47e526d2-ccdd-45e5-b919-9041210bf9d0","block_type":"box","text":"30 Jun 2026","page_number":41,"box":{"x":728,"y":198,"width":66,"height":6}},{"id":"08b11966-ed8e-444b-acb1-ba2e87e103bb","block_type":"box","text":"31 Dec 2025","page_number":41,"box":{"x":871,"y":198,"width":66,"height":6}},{"id":"e2a03f7f-a39c-4cf2-9a5f-8bb0bd4700b6","block_type":"box","text":"£’000","page_number":41,"box":{"x":764,"y":207,"width":30,"height":6}},{"id":"dc79b31d-2c3f-41ac-a6f8-20a1208d59f1","block_type":"box","text":"£’000","page_number":41,"box":{"x":907,"y":207,"width":30,"height":6}},{"id":"81090960-e95f-441b-af92-28237a5a4a52","block_type":"box","text":"Assets","page_number":41,"box":{"x":521,"y":226,"width":39,"height":6}},{"id":"a482fc08-cc25-4e5d-aebd-1b81fb1fa163","block_type":"box","text":"Investments","page_number":41,"box":{"x":522,"y":243,"width":63,"height":6}},{"id":"91d90b1b-414d-4805-8dd2-138d0226606c","block_type":"box","text":"1,432,571","page_number":41,"box":{"x":743,"y":243,"width":50,"height":7}},{"id":"0135d9ba-049e-454f-9063-3c172dff5517","block_type":"box","text":"1,315,603","page_number":41,"box":{"x":886,"y":243,"width":51,"height":7}},{"id":"2855293a-8ba8-48f2-811b-00428d7250a6","block_type":"box","text":"Amounts receivable","page_number":41,"box":{"x":521,"y":261,"width":106,"height":6}},{"id":"3228173c-ecbb-495a-a703-3652ff393a8b","block_type":"box","text":"3,682","page_number":41,"box":{"x":765,"y":261,"width":29,"height":7}},{"id":"d18f2f74-acfb-4845-af6b-fd5e04606baa","block_type":"box","text":"1,351","page_number":41,"box":{"x":910,"y":261,"width":25,"height":7}},{"id":"60fadfec-aaec-4bf4-a4dc-9661ad228fec","block_type":"box","text":"Cash and cash","page_number":41,"box":{"x":522,"y":278,"width":78,"height":6}},{"id":"a3c92c31-0b31-46ed-9e15-a174b95a5224","block_type":"box","text":"equivalents","page_number":41,"box":{"x":521,"y":288,"width":61,"height":7}},{"id":"6bc55273-3e6a-4476-9126-d3d61a16692a","block_type":"box","text":"44,234","page_number":41,"box":{"x":757,"y":278,"width":37,"height":7}},{"id":"774593e8-ae96-40fa-88f1-f510f0fb2b91","block_type":"box","text":"31,545","page_number":41,"box":{"x":902,"y":278,"width":35,"height":7}},{"id":"c93c93b0-3cdb-44cc-bba8-323d42e01887","block_type":"box","text":"Total assets","page_number":41,"box":{"x":521,"y":305,"width":64,"height":6}},{"id":"a720b983-cc77-4baf-af76-d1bf7c87c6ee","block_type":"box","text":"1,480,487","page_number":41,"box":{"x":742,"y":305,"width":52,"height":7}},{"id":"61dc528c-4b18-4bae-b101-7db2294aba34","block_type":"box","text":"1,348,499","page_number":41,"box":{"x":885,"y":305,"width":52,"height":7}},{"id":"74fc5735-95a2-4a11-a0dc-e22fe1600551","block_type":"box","text":"Liabilities","page_number":41,"box":{"x":522,"y":323,"width":55,"height":6}},{"id":"1edd2e69-c48c-4b52-b50d-2a9b8153378e","block_type":"box","text":"Investments","page_number":41,"box":{"x":522,"y":340,"width":63,"height":6}},{"id":"325814ce-0dc9-4013-bd6d-d8f20b1858c5","block_type":"box","text":"1,680","page_number":41,"box":{"x":766,"y":340,"width":28,"height":7}},{"id":"a0511ad7-e288-4293-9233-6b5722e4dbf4","block_type":"box","text":"2,190","page_number":41,"box":{"x":909,"y":340,"width":28,"height":7}},{"id":"9f1658b3-7798-41b7-be81-03bb3349ff18","block_type":"box","text":"Bank overdrafts","page_number":41,"box":{"x":522,"y":358,"width":83,"height":6}},{"id":"654f6323-677d-458a-aed4-c7ca5cda4769","block_type":"box","text":"18,381","page_number":41,"box":{"x":760,"y":358,"width":33,"height":7}},{"id":"c0fc5ad5-7e2f-44e0-bfb4-d0e2cb478ad4","block_type":"box","text":"8,447","page_number":41,"box":{"x":908,"y":358,"width":29,"height":7}},{"id":"1bd3eda3-9bab-4413-a997-58e4b3d31b44","block_type":"box","text":"Distribution payable","page_number":41,"box":{"x":522,"y":375,"width":105,"height":8}},{"id":"10eee5e8-b7d7-49f3-98b1-297c934fee7e","block_type":"box","text":"102","page_number":41,"box":{"x":776,"y":375,"width":18,"height":6}},{"id":"e5a5da28-f459-4a65-92f8-aa04d1ae64b5","block_type":"box","text":"192","page_number":41,"box":{"x":919,"y":375,"width":18,"height":6}},{"id":"2d29b7b6-7299-4c46-8575-9384944d599b","block_type":"box","text":"Other amounts payable","page_number":41,"box":{"x":521,"y":393,"width":124,"height":7}},{"id":"489bbf22-0aad-4e6a-9152-ff4b05d025d7","block_type":"box","text":"3,553","page_number":41,"box":{"x":765,"y":393,"width":29,"height":7}},{"id":"8994414d-3184-463b-823f-51cef433936b","block_type":"box","text":"3,687","page_number":41,"box":{"x":908,"y":393,"width":29,"height":7}},{"id":"e8979d54-590b-431b-aa26-32526590680f","block_type":"box","text":"Total liabilities","page_number":41,"box":{"x":521,"y":410,"width":75,"height":6}},{"id":"1c93c246-ac04-48a0-8467-c11cf3bb81e5","block_type":"box","text":"23,716","page_number":41,"box":{"x":759,"y":410,"width":35,"height":7}},{"id":"9d1b9e2a-abd6-40d5-a9eb-390c72df5b38","block_type":"box","text":"14,516","page_number":41,"box":{"x":903,"y":410,"width":34,"height":7}},{"id":"6681f92d-c6ce-46eb-a06d-c0c538a7cc1d","block_type":"box","text":"Net assets","page_number":41,"box":{"x":522,"y":428,"width":59,"height":6}},{"id":"8a5eca68-b3e1-467c-ad13-839e74f499f4","block_type":"box","text":"attributable to","page_number":41,"box":{"x":521,"y":437,"width":82,"height":6}},{"id":"a70de418-2450-486d-858d-cfcc826602b4","block_type":"box","text":"shareholders","page_number":41,"box":{"x":521,"y":447,"width":76,"height":6}},{"id":"56504753-f1c8-495e-8a77-05ee57f87428","block_type":"box","text":"1,456,771","page_number":41,"box":{"x":742,"y":428,"width":51,"height":7}},{"id":"a9a98f9f-97e4-4848-970b-1e225e916efe","block_type":"box","text":"1,333,983","page_number":41,"box":{"x":885,"y":428,"width":52,"height":7}},{"id":"629434fd-1624-4024-980c-8e4a1e081719","block_type":"box","text":"Royal London GMAP Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":41,"box":{"x":514,"y":33,"width":399,"height":8}},{"id":"797a780a-8b63-4788-91f1-df45a81d0ee6","block_type":"box","text":"41","page_number":41,"box":{"x":930,"y":33,"width":10,"height":6}},{"id":"2cb25666-1f89-4f77-8ba5-fed2a382d81b","block_type":"box","text":"Notes to the Financial Statements","page_number":42,"box":{"x":58,"y":94,"width":409,"height":11}},{"id":"c0ad8bc8-be71-47be-8c8b-0654c7c35a7b","block_type":"box","text":"For the six month period ended 30","page_number":42,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"3780010c-7d13-4976-8c96-0c50728619bb","block_type":"box","text":"June 2026","page_number":42,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"0bf18d07-5b39-4930-a59b-4afd695c1d20","block_type":"box","text":"1. Accounting policies","page_number":42,"box":{"x":58,"y":151,"width":205,"height":11}},{"id":"b43c80b2-c914-4992-9a08-b050af9ae993","block_type":"box","text":"The accounting policies are set out in note 1 on pages","page_number":42,"box":{"x":57,"y":169,"width":404,"height":10}},{"id":"551e2e59-bfbc-48a5-bc82-dc678880335a","block_type":"box","text":"5","page_number":42,"box":{"x":470,"y":170,"width":7,"height":7}},{"id":"44a7d9c1-7dbb-4485-bd84-c463c98a5cb0","block_type":"box","text":"and","page_number":42,"box":{"x":57,"y":184,"width":24,"height":8}},{"id":"9ab2f12f-62e0-4516-a7ca-fb4ce0dfef4f","block_type":"box","text":"6","page_number":42,"box":{"x":87,"y":184,"width":7,"height":8}},{"id":"38c615c4-ba79-4a72-8a3b-b69a5923b8c4","block_type":"box","text":".","page_number":42,"box":{"x":96,"y":190,"width":2,"height":1}},{"id":"0b455699-b4b0-4019-9067-c0a279a9ea40","block_type":"box","text":"2. Related party transactions","page_number":42,"box":{"x":57,"y":210,"width":272,"height":12}},{"id":"b808be74-8434-4d97-9286-60da8e69c639","block_type":"box","text":"The Fund’s Authorised Corporate Director, Royal London","page_number":42,"box":{"x":57,"y":229,"width":420,"height":10}},{"id":"d31f2b37-bfda-4220-946d-4ac766ef097e","block_type":"box","text":"Unit Trust Managers Limited, is a related party to the Fund","page_number":42,"box":{"x":58,"y":243,"width":419,"height":10}},{"id":"ca499e06-a1be-4478-b66b-91ecbf220025","block_type":"box","text":"as defined by Financial Reporting Standard 102 ‘Related","page_number":42,"box":{"x":57,"y":257,"width":420,"height":10}},{"id":"a1576854-816a-4556-8cd1-2c45d9f0fe67","block_type":"box","text":"Party Disclosures’.","page_number":42,"box":{"x":58,"y":272,"width":124,"height":10}},{"id":"6e6ca4b6-65fb-4cdf-83b8-3e234b39269f","block_type":"box","text":"Fund Management fees charged by Royal London Unit Trust","page_number":42,"box":{"x":58,"y":293,"width":420,"height":10}},{"id":"529dbd3e-b2d3-4adb-b2c9-30a60b90852b","block_type":"box","text":"Managers Limited are disclosed within the expenses figure","page_number":42,"box":{"x":58,"y":307,"width":419,"height":10}},{"id":"550c3ca5-651f-40fe-8cff-f4fe02d7b12c","block_type":"box","text":"shown on the Statement of Total Return and details of shares","page_number":42,"box":{"x":57,"y":321,"width":421,"height":8}},{"id":"39dac151-1544-4cca-a1a6-b30b1599e153","block_type":"box","text":"created and cancelled by Royal London Unit Trust Managers","page_number":42,"box":{"x":57,"y":336,"width":421,"height":9}},{"id":"6a2e046c-91ea-4fd2-9b4f-0c8ae76d7e8d","block_type":"box","text":"Limited are shown in the Statement of Change in Net Assets","page_number":42,"box":{"x":58,"y":350,"width":420,"height":10}},{"id":"fbd2b0eb-0749-4b56-a634-ec4cefb11cc6","block_type":"box","text":"Attributable to Shareholders and the Distribution figure shown","page_number":42,"box":{"x":57,"y":364,"width":420,"height":10}},{"id":"e16c7d2e-1bfa-491f-97cd-66dc7ac22181","block_type":"box","text":"on the Statement of Total Return.","page_number":42,"box":{"x":57,"y":378,"width":223,"height":8}},{"id":"b505b444-5a0a-40df-a570-a9a971796525","block_type":"box","text":"At the six months period end the balance due to Royal London","page_number":42,"box":{"x":57,"y":399,"width":420,"height":10}},{"id":"ee5a147f-914a-4791-8ae6-b1e6dc4dded6","block_type":"box","text":"Unit Trust Managers Limited in respect of these transactions","page_number":42,"box":{"x":58,"y":413,"width":419,"height":10}},{"id":"81ba1e6a-1790-48e8-a717-384a9d2e93b4","block_type":"box","text":"was £3,205,000 (31/12/25: £360,000).","page_number":42,"box":{"x":57,"y":428,"width":256,"height":10}},{"id":"99ff2cf6-5357-4755-acbb-7952a81b4430","block_type":"box","text":"Amounts due from Royal London Unit Trust Managers Limited in","page_number":42,"box":{"x":57,"y":449,"width":420,"height":10}},{"id":"039152ac-d37c-4402-956d-63e4fa5fd558","block_type":"box","text":"respect of periodic charge rebates at the period end amounted","page_number":42,"box":{"x":58,"y":463,"width":419,"height":10}},{"id":"b9458f67-8d84-4644-b5d8-6fae71730ffa","block_type":"box","text":"to £266,000 (31/12/25: £281,000).","page_number":42,"box":{"x":57,"y":477,"width":227,"height":10}},{"id":"751960c4-44cf-432a-b826-d4a1cbcf9913","block_type":"box","text":"At the six months period end, 30 June 2026, 62.54% (31/12/25:","page_number":42,"box":{"x":57,"y":498,"width":420,"height":10}},{"id":"fd11a34d-1456-48ac-a2d6-d22d42a2793a","block_type":"box","text":"65.52%) of the shares in issue were held by The Royal London","page_number":42,"box":{"x":57,"y":512,"width":420,"height":10}},{"id":"508fca29-043d-4dcf-a1aa-1db0f551c585","block_type":"box","text":"Mutual Insurance Society Limited. Royal London Unit Trust","page_number":42,"box":{"x":58,"y":527,"width":420,"height":10}},{"id":"f02cf62d-e358-4efd-a29c-874c0d8e6279","block_type":"box","text":"Managers Limited is a wholly owned subsidiary of The Royal","page_number":42,"box":{"x":58,"y":541,"width":419,"height":10}},{"id":"9f7e57d9-1966-4874-bfcb-379b55620bfc","block_type":"box","text":"London Mutual Insurance Society Limited.","page_number":42,"box":{"x":58,"y":555,"width":282,"height":10}},{"id":"53de1a18-a796-4a5b-baed-20fba4738770","block_type":"box","text":"Certain directors or close family members of directors of the","page_number":42,"box":{"x":57,"y":576,"width":420,"height":10}},{"id":"6fed5eb6-91d0-48ce-a7f9-2b656a4e9dd3","block_type":"box","text":"Authorised Corporate Director own shares in the Fund which","page_number":42,"box":{"x":57,"y":590,"width":420,"height":10}},{"id":"f2195039-87ba-4bcb-9e40-9ba5d43a7bdf","block_type":"box","text":"are deemed not to be material.","page_number":42,"box":{"x":57,"y":605,"width":206,"height":8}},{"id":"6e80e634-fc3a-448e-8c61-b91aed37488d","block_type":"box","text":"3. Fair value of investments","page_number":42,"box":{"x":522,"y":151,"width":255,"height":9}},{"id":"94dc6f30-6e12-4643-947e-d06c38a45d36","block_type":"box","text":"The fair values of the Fund’s assets and liabilities are","page_number":42,"box":{"x":521,"y":169,"width":421,"height":8}},{"id":"108a14a6-54f9-40be-937c-b7bc0ef44d2b","block_type":"box","text":"represented by the values shown in the balance sheet. There","page_number":42,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"c3d10944-1aec-44f0-981d-7f6dc155b806","block_type":"box","text":"is no material difference between the value of the financial","page_number":42,"box":{"x":522,"y":198,"width":419,"height":8}},{"id":"7970147e-e512-4dcb-9430-6bee7238ceaa","block_type":"box","text":"assets and liabilities, as shown in the balance sheet, and their","page_number":42,"box":{"x":521,"y":212,"width":422,"height":9}},{"id":"e1f686f2-e582-490c-85aa-9ff42d6212ad","block_type":"box","text":"fair value.","page_number":42,"box":{"x":521,"y":226,"width":64,"height":8}},{"id":"e69031cd-1a68-4e18-99ca-ca8c39aad03f","block_type":"box","text":"The fair value of investments has been determined using the","page_number":42,"box":{"x":521,"y":247,"width":421,"height":10}},{"id":"de05f677-dcc7-4858-9872-9a678ba4760e","block_type":"box","text":"following hierarchy:","page_number":42,"box":{"x":521,"y":262,"width":130,"height":10}},{"id":"10876d59-eea6-43a8-88fb-510bc1e0768a","block_type":"box","text":"Level 1","page_number":42,"box":{"x":522,"y":283,"width":45,"height":7}},{"id":"65aa9668-3334-47e3-bcd6-82e9bb1f93f1","block_type":"box","text":"The unadjusted quoted price in an active market","page_number":42,"box":{"x":593,"y":283,"width":349,"height":10}},{"id":"27d26e87-a02f-4d54-ac8a-f329802c4cab","block_type":"box","text":"for identical assets or liabilities that the entity can","page_number":42,"box":{"x":592,"y":297,"width":349,"height":10}},{"id":"94d27084-0c79-4cd3-90fc-8f90dd1faa39","block_type":"box","text":"access at the measurement date.","page_number":42,"box":{"x":593,"y":311,"width":224,"height":8}},{"id":"fd89928a-3195-46e2-bc66-6cc171aeee1a","block_type":"box","text":"Level 2","page_number":42,"box":{"x":522,"y":332,"width":47,"height":8}},{"id":"07dd952e-121b-4214-851f-bc659e2c4f98","block_type":"box","text":"Inputs other than quoted prices included within","page_number":42,"box":{"x":594,"y":332,"width":347,"height":10}},{"id":"6b20fd39-e43d-427c-9232-d009ab0636c7","block_type":"box","text":"Level 1 that are observable (i.e. developed using","page_number":42,"box":{"x":593,"y":346,"width":348,"height":10}},{"id":"715010e8-1af6-4972-84bd-24bdfb523bb9","block_type":"box","text":"market data) for the asset or liability, either directly","page_number":42,"box":{"x":593,"y":361,"width":349,"height":10}},{"id":"517a698a-2492-449f-9f2f-bda8269681f3","block_type":"box","text":"or indirectly.","page_number":42,"box":{"x":593,"y":375,"width":80,"height":10}},{"id":"7446b353-7c22-4627-8f67-7dd6fa06da27","block_type":"box","text":"Level 3","page_number":42,"box":{"x":522,"y":396,"width":47,"height":8}},{"id":"8b72834e-47c6-4f66-bc6b-768692dabf18","block_type":"box","text":"Inputs are unobservable (i.e. for which market data","page_number":42,"box":{"x":594,"y":396,"width":348,"height":10}},{"id":"51ecc12e-11e6-47ea-8dd6-c8a9147d3758","block_type":"box","text":"is unavailable) for the asset or liability.","page_number":42,"box":{"x":593,"y":410,"width":255,"height":10}},{"id":"e5e4efcf-7610-459f-91be-da5f2f077450","block_type":"box","text":"As at the period ended 30","page_number":42,"box":{"x":521,"y":431,"width":186,"height":10}},{"id":"899b4759-8497-4730-8d42-6427c6c30878","block_type":"box","text":"June 2026","page_number":42,"box":{"x":713,"y":431,"width":73,"height":8}},{"id":"d6277c26-4ac6-4553-b942-77ba5d31357d","block_type":"box","text":"Level","page_number":42,"box":{"x":522,"y":456,"width":28,"height":6}},{"id":"516063b0-eedd-4ae9-b81a-b2663ad39dc9","block_type":"box","text":"1","page_number":42,"box":{"x":718,"y":456,"width":3,"height":6}},{"id":"385c77d8-bfd7-4b09-ac2b-23f65c7a711e","block_type":"box","text":"2","page_number":42,"box":{"x":788,"y":456,"width":6,"height":6}},{"id":"c53f0859-4095-48c4-88e1-b6949cdd9287","block_type":"box","text":"3","page_number":42,"box":{"x":860,"y":456,"width":6,"height":6}},{"id":"b4924197-ebbc-44c8-8bc7-01bc96748c81","block_type":"box","text":"Total","page_number":42,"box":{"x":910,"y":456,"width":27,"height":6}},{"id":"31fce72d-7b8c-4371-a2f6-8ada7c23967b","block_type":"box","text":"£’000","page_number":42,"box":{"x":693,"y":466,"width":30,"height":6}},{"id":"c78c15bb-167c-49a8-b59b-fc9cdefb5f70","block_type":"box","text":"£’000","page_number":42,"box":{"x":764,"y":466,"width":30,"height":6}},{"id":"fa223529-bba6-406b-8f67-6030bf877057","block_type":"box","text":"£’000","page_number":42,"box":{"x":836,"y":466,"width":30,"height":6}},{"id":"a6cb2367-ca22-4a88-8b89-66877f59d501","block_type":"box","text":"£’000","page_number":42,"box":{"x":907,"y":466,"width":30,"height":6}},{"id":"26d9c241-11c1-4eed-8ee8-a8c190782e30","block_type":"box","text":"Investments","page_number":42,"box":{"x":522,"y":484,"width":69,"height":6}},{"id":"47f06b5e-8fa4-4999-96ef-460e570c951d","block_type":"box","text":"Exchange Traded","page_number":42,"box":{"x":522,"y":502,"width":92,"height":7}},{"id":"69bf428b-235b-4254-a581-0e52c86dceeb","block_type":"box","text":"Funds and","page_number":42,"box":{"x":522,"y":511,"width":54,"height":6}},{"id":"337e94e9-2d93-46a6-ab0f-2ff41aa7b32e","block_type":"box","text":"Commodities","page_number":42,"box":{"x":522,"y":521,"width":69,"height":6}},{"id":"da267f56-dfdd-4b01-95fc-f11a1e1080e6","block_type":"box","text":"78,416","page_number":42,"box":{"x":688,"y":502,"width":35,"height":7}},{"id":"6c31042e-290f-4498-baee-90fea76ee689","block_type":"box","text":"–","page_number":42,"box":{"x":788,"y":505,"width":7,"height":1}},{"id":"d41c8479-f7e0-43a4-b9bc-29f22697f26e","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":505,"width":6,"height":1}},{"id":"4ba757bb-9c73-44fe-a529-6675595ad38c","block_type":"box","text":"78,416","page_number":42,"box":{"x":902,"y":502,"width":35,"height":7}},{"id":"37ad9b42-f3da-43d4-ae21-ea5ef2268428","block_type":"box","text":"Collective investment","page_number":42,"box":{"x":522,"y":538,"width":113,"height":6}},{"id":"6b0dd191-3044-407e-9e1b-ce96ff302931","block_type":"box","text":"schemes","page_number":42,"box":{"x":521,"y":548,"width":48,"height":6}},{"id":"08323179-ef18-4de8-8b8a-23f6178b0f18","block_type":"box","text":"–","page_number":42,"box":{"x":717,"y":542,"width":6,"height":0}},{"id":"9f5a51d8-1071-4846-965f-03969dc6ee84","block_type":"box","text":"1,350,440","page_number":42,"box":{"x":742,"y":538,"width":52,"height":7}},{"id":"cb5d1e40-6e17-4b58-bf08-de91829a9c56","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":542,"width":6,"height":0}},{"id":"90dd0ec0-f9ca-4e2a-97ca-9f06cd40f58d","block_type":"box","text":"1,350,440","page_number":42,"box":{"x":885,"y":538,"width":52,"height":7}},{"id":"4f80224e-6de3-4760-a267-4c95470cc4e2","block_type":"box","text":"Derivatives","page_number":42,"box":{"x":522,"y":565,"width":58,"height":6}},{"id":"04a8e051-bac7-4e3d-8fb1-a6ecb2ebf5c0","block_type":"box","text":"2,623","page_number":42,"box":{"x":694,"y":565,"width":29,"height":7}},{"id":"f60abeb0-2922-4b38-806d-0c8dc775adbf","block_type":"box","text":"1,092","page_number":42,"box":{"x":766,"y":565,"width":28,"height":7}},{"id":"0085671f-bace-48c2-b7f0-0c4d6bc38a97","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":569,"width":6,"height":0}},{"id":"1bb8b741-93b7-461d-ac13-c7e6c4d0f104","block_type":"box","text":"3,715","page_number":42,"box":{"x":909,"y":565,"width":28,"height":7}},{"id":"d81f904b-a858-4766-a844-b621cb9b65a5","block_type":"box","text":"Total","page_number":42,"box":{"x":521,"y":583,"width":27,"height":6}},{"id":"9515b5f8-eabf-402f-9b0c-60446885e783","block_type":"box","text":"81,039","page_number":42,"box":{"x":687,"y":583,"width":36,"height":7}},{"id":"f3f8d15a-65a2-4a70-b1c1-7f9cdbd82bdf","block_type":"box","text":"1,351,352","page_number":42,"box":{"x":743,"y":583,"width":51,"height":7}},{"id":"941394df-0f46-441a-b002-0a4d44803ed4","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":586,"width":6,"height":1}},{"id":"57099ba9-dca9-42f0-b2a9-76765ffb0b3d","block_type":"box","text":"1,432,571","page_number":42,"box":{"x":885,"y":583,"width":51,"height":7}},{"id":"8127e4c2-123d-4e0b-96d6-1e85d60e4d84","block_type":"box","text":"Investment liabilities","page_number":42,"box":{"x":522,"y":600,"width":119,"height":6}},{"id":"9f797adc-9a8b-4521-b03f-186f1d4a2627","block_type":"box","text":"Derivatives","page_number":42,"box":{"x":522,"y":618,"width":58,"height":6}},{"id":"afd6cda3-6054-49ce-ac8e-6f5967e5e263","block_type":"box","text":"(1,548)","page_number":42,"box":{"x":691,"y":618,"width":36,"height":7}},{"id":"7cb40812-1da6-486d-a859-5b2f62942413","block_type":"box","text":"(132)","page_number":42,"box":{"x":773,"y":618,"width":25,"height":7}},{"id":"27cdb1ae-b7ab-4ec1-aa3f-c9b73970dd91","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":621,"width":6,"height":1}},{"id":"484c8d13-3522-4451-be58-784cba5422c0","block_type":"box","text":"(1,680)","page_number":42,"box":{"x":905,"y":618,"width":36,"height":7}},{"id":"da4a22c7-d2a7-43c7-a16d-5552bafa2f8d","block_type":"box","text":"Total","page_number":42,"box":{"x":521,"y":635,"width":27,"height":6}},{"id":"e39ce120-8d10-422a-9aca-5f388c6881c2","block_type":"box","text":"(1,548)","page_number":42,"box":{"x":690,"y":635,"width":37,"height":8}},{"id":"090d55e0-90af-4824-b6a8-76a32c3b8b7e","block_type":"box","text":"(132)","page_number":42,"box":{"x":772,"y":635,"width":26,"height":8}},{"id":"d8250095-c7bb-45a1-8246-ae0698ff614f","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":639,"width":6,"height":0}},{"id":"0f0c6037-285e-4c88-b07c-ce257fe07c3d","block_type":"box","text":"(1,680)","page_number":42,"box":{"x":905,"y":635,"width":36,"height":8}},{"id":"840c9e58-fc35-47f5-980f-a931450210a4","block_type":"box","text":"As at the year ended 31","page_number":42,"box":{"x":521,"y":657,"width":168,"height":10}},{"id":"887914c3-0b43-44d7-b305-bef717e5f26b","block_type":"box","text":"December 2025","page_number":42,"box":{"x":697,"y":657,"width":111,"height":8}},{"id":"ed516836-9d13-455a-85e0-bcdda9a54233","block_type":"box","text":"Level","page_number":42,"box":{"x":522,"y":682,"width":28,"height":6}},{"id":"ceb94648-adc9-4109-8f0d-c4d0570e2c28","block_type":"box","text":"1","page_number":42,"box":{"x":718,"y":682,"width":3,"height":6}},{"id":"7bc1fb57-5c32-4f42-b77c-9a670b20a7cd","block_type":"box","text":"2","page_number":42,"box":{"x":788,"y":682,"width":6,"height":6}},{"id":"a6c04427-6fbe-4657-a294-7c79af23c8ab","block_type":"box","text":"3","page_number":42,"box":{"x":860,"y":682,"width":6,"height":6}},{"id":"54c32be2-8cf1-485d-b9b4-fef0b82c6cc6","block_type":"box","text":"Total","page_number":42,"box":{"x":910,"y":682,"width":27,"height":6}},{"id":"2fbdeb92-75da-4120-8813-1999e8115f02","block_type":"box","text":"£’000","page_number":42,"box":{"x":693,"y":692,"width":30,"height":6}},{"id":"ce8fad50-b2e7-4bdd-8cbc-e00760269270","block_type":"box","text":"£’000","page_number":42,"box":{"x":764,"y":692,"width":30,"height":6}},{"id":"7f2677a8-5b0e-48a0-b046-bfa1421895e7","block_type":"box","text":"£’000","page_number":42,"box":{"x":836,"y":692,"width":30,"height":6}},{"id":"1828c38e-d664-4333-9161-a317294e99cd","block_type":"box","text":"£’000","page_number":42,"box":{"x":907,"y":692,"width":30,"height":6}},{"id":"d490d9c3-911c-487f-a9d6-2eaa5b92b13c","block_type":"box","text":"Investments","page_number":42,"box":{"x":522,"y":710,"width":69,"height":6}},{"id":"9bd18f66-9342-4bba-a10a-68ccff3ef02f","block_type":"box","text":"Exchange Traded","page_number":42,"box":{"x":522,"y":728,"width":92,"height":7}},{"id":"378c5aa3-f060-4702-82b4-2957c4988657","block_type":"box","text":"Funds and","page_number":42,"box":{"x":522,"y":737,"width":54,"height":6}},{"id":"1a18624d-4492-4cf5-a91e-da4de4bdef26","block_type":"box","text":"Commodities","page_number":42,"box":{"x":522,"y":747,"width":69,"height":6}},{"id":"58552303-b155-4317-b228-ffde9610f323","block_type":"box","text":"88,836","page_number":42,"box":{"x":686,"y":728,"width":37,"height":7}},{"id":"8a635a26-422a-41d2-b14d-3f6aaa3ff729","block_type":"box","text":"–","page_number":42,"box":{"x":788,"y":731,"width":7,"height":1}},{"id":"a395e0a1-f8a3-4cc0-9546-39d8fd1e910f","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":731,"width":6,"height":1}},{"id":"70e52671-b193-4367-9ac9-6fc3d117796c","block_type":"box","text":"88,836","page_number":42,"box":{"x":901,"y":728,"width":36,"height":7}},{"id":"f8c4318d-ac7a-4222-9bbf-47967e088397","block_type":"box","text":"Collective investment","page_number":42,"box":{"x":522,"y":764,"width":113,"height":6}},{"id":"c1e577d9-b3b7-4c22-ae96-4a8b2841ff97","block_type":"box","text":"schemes","page_number":42,"box":{"x":521,"y":774,"width":48,"height":6}},{"id":"cd877a71-b803-439c-97f9-c6444b45dcd0","block_type":"box","text":"–","page_number":42,"box":{"x":717,"y":768,"width":6,"height":0}},{"id":"b2dd86e8-9448-4557-ad5d-4e7e3bbf0b13","block_type":"box","text":"1,224,878","page_number":42,"box":{"x":743,"y":764,"width":51,"height":7}},{"id":"6fd5d136-1549-4f8d-9dca-f3ac30238bde","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":768,"width":6,"height":0}},{"id":"8b2659b9-2bbd-485f-880f-48ac16ee942c","block_type":"box","text":"1,224,878","page_number":42,"box":{"x":886,"y":764,"width":51,"height":7}},{"id":"a50d5529-7efb-4435-b165-0d378983c1b0","block_type":"box","text":"Derivatives","page_number":42,"box":{"x":522,"y":791,"width":58,"height":6}},{"id":"3dec6d87-1f1f-4ec2-8246-66bad759df89","block_type":"box","text":"1,847","page_number":42,"box":{"x":695,"y":791,"width":28,"height":7}},{"id":"dfa6614f-9bb0-4c33-93e0-3c17fe06fba7","block_type":"box","text":"42","page_number":42,"box":{"x":782,"y":791,"width":12,"height":6}},{"id":"da42d9cc-b9b1-40a7-b53b-707811b2aad6","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":795,"width":6,"height":0}},{"id":"0cff9dec-ed86-456c-9790-c6341e8a4002","block_type":"box","text":"1,889","page_number":42,"box":{"x":909,"y":791,"width":28,"height":7}},{"id":"5a3716fc-3dfa-4b89-a781-6ef1f8fbb340","block_type":"box","text":"Total","page_number":42,"box":{"x":521,"y":809,"width":27,"height":6}},{"id":"f874a746-ad97-400f-93b2-ac431e9139f4","block_type":"box","text":"90,683","page_number":42,"box":{"x":686,"y":809,"width":37,"height":7}},{"id":"02787c9e-d814-467a-9f66-1e5e24ec6a6c","block_type":"box","text":"1,224,920","page_number":42,"box":{"x":741,"y":809,"width":53,"height":7}},{"id":"19166a52-74af-4de7-a483-834e5f0ec8fd","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":812,"width":6,"height":1}},{"id":"a3ac5cf2-1622-4a69-bf59-f6dc32755c08","block_type":"box","text":"1,315,603","page_number":42,"box":{"x":886,"y":809,"width":51,"height":7}},{"id":"f7d17701-8f3e-4176-bb53-9f03b99a3cc2","block_type":"box","text":"Investment liabilities","page_number":42,"box":{"x":522,"y":826,"width":119,"height":6}},{"id":"2ea90d7b-248d-4844-966b-aa26c61f03d0","block_type":"box","text":"Derivatives","page_number":42,"box":{"x":522,"y":844,"width":58,"height":6}},{"id":"6ab94c14-710e-4304-b22c-a07c3a014616","block_type":"box","text":"(1,160)","page_number":42,"box":{"x":692,"y":844,"width":35,"height":7}},{"id":"6dcce8f7-c15e-4e91-a61e-d079b6272791","block_type":"box","text":"(1,030)","page_number":42,"box":{"x":762,"y":844,"width":36,"height":7}},{"id":"9e247901-0a78-4485-a43b-58d4f91e464f","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":847,"width":6,"height":1}},{"id":"218d70c6-de5b-486f-ae4e-6971a8a08caa","block_type":"box","text":"(2,190)","page_number":42,"box":{"x":906,"y":844,"width":35,"height":7}},{"id":"1b43363e-e6e0-4ed7-8999-1ba0719d5e9f","block_type":"box","text":"Total","page_number":42,"box":{"x":521,"y":861,"width":27,"height":6}},{"id":"ae7018d7-27a9-4e45-8c1e-f253517feb88","block_type":"box","text":"(1,160)","page_number":42,"box":{"x":692,"y":861,"width":35,"height":8}},{"id":"4fd775df-c0cf-49bd-84b8-412a0b541f78","block_type":"box","text":"(1,030)","page_number":42,"box":{"x":762,"y":861,"width":36,"height":8}},{"id":"d73e8e30-6c43-4c16-9e9a-99c2b218b756","block_type":"box","text":"–","page_number":42,"box":{"x":860,"y":865,"width":6,"height":1}},{"id":"b0e9ff59-f8ca-4e02-9124-1991632fb5e6","block_type":"box","text":"(2,190)","page_number":42,"box":{"x":905,"y":861,"width":36,"height":8}},{"id":"48475044-ad40-4b80-a588-cc77530b25d0","block_type":"box","text":"Royal London GMAP Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":42,"box":{"x":514,"y":33,"width":399,"height":8}},{"id":"5e1bbb5a-f17c-4dc8-a43a-1cd7a5cdbdbf","block_type":"box","text":"42","page_number":42,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"407c3783-e715-4f2d-a37c-4931801b6507","block_type":"box","text":"Manager’s Investment Report","page_number":43,"box":{"x":58,"y":151,"width":352,"height":14}},{"id":"c1127109-f214-4e58-bc02-ec63dd62f40e","block_type":"box","text":"Cumulative Performance","page_number":43,"box":{"x":57,"y":181,"width":230,"height":9}},{"id":"ddc5f7d7-a471-4f6e-89af-ae0f892f32ff","block_type":"box","text":"(% change to 30/06/26)","page_number":43,"box":{"x":57,"y":203,"width":164,"height":10}},{"id":"d4bbaf2d-2733-4471-96cb-8eddef79a5e1","block_type":"box","text":"6 month","page_number":43,"box":{"x":242,"y":231,"width":46,"height":6}},{"id":"2bd8b924-ae91-4ff2-89ea-2f0600d569b6","block_type":"box","text":"total","page_number":43,"box":{"x":263,"y":241,"width":25,"height":6}},{"id":"01d7fc54-6b11-4c8b-8b4c-dee5b01917b5","block_type":"box","text":"return","page_number":43,"box":{"x":254,"y":250,"width":34,"height":6}},{"id":"8298a58d-6a0e-422f-bff6-b744f216134f","block_type":"box","text":"%","page_number":43,"box":{"x":279,"y":260,"width":9,"height":6}},{"id":"d95772f4-3d23-408c-9af5-caeba8020c4a","block_type":"box","text":"1 year","page_number":43,"box":{"x":316,"y":231,"width":34,"height":8}},{"id":"bbab7d2a-25b4-45c6-8a73-58b2eb6788ad","block_type":"box","text":"total","page_number":43,"box":{"x":324,"y":241,"width":25,"height":6}},{"id":"adba5986-03ab-4fe6-8566-00d13932bc2b","block_type":"box","text":"return","page_number":43,"box":{"x":315,"y":250,"width":34,"height":6}},{"id":"d3066b30-f3be-419d-886b-bda27b688a4f","block_type":"box","text":"%","page_number":43,"box":{"x":340,"y":260,"width":9,"height":6}},{"id":"2a564e06-3de2-47e2-a242-e8ed50a28cff","block_type":"box","text":"3 year","page_number":43,"box":{"x":376,"y":231,"width":34,"height":8}},{"id":"cb5b1510-0e0c-4e8d-82e2-c23c616dfb14","block_type":"box","text":"total","page_number":43,"box":{"x":385,"y":241,"width":24,"height":6}},{"id":"cc6132db-bb30-4d6d-a71f-1160badda1fd","block_type":"box","text":"return","page_number":43,"box":{"x":376,"y":250,"width":33,"height":6}},{"id":"e3b124fe-1b54-417a-8c0b-5fc955d8ebf8","block_type":"box","text":"%","page_number":43,"box":{"x":400,"y":260,"width":10,"height":6}},{"id":"469c1c12-bc66-4539-bedd-d3684077ab60","block_type":"box","text":"5 year","page_number":43,"box":{"x":437,"y":231,"width":34,"height":8}},{"id":"d4c0d0f8-7af6-414d-9217-4a691186e28b","block_type":"box","text":"total","page_number":43,"box":{"x":445,"y":241,"width":25,"height":6}},{"id":"62393af9-4fbe-41fb-a5c5-82f2331e3eb3","block_type":"box","text":"return","page_number":43,"box":{"x":436,"y":250,"width":34,"height":6}},{"id":"de511f65-2ae1-4088-8cb2-a60da5913208","block_type":"box","text":"%","page_number":43,"box":{"x":461,"y":260,"width":9,"height":6}},{"id":"19769a44-7524-40fe-8f4d-c807dff3b987","block_type":"box","text":"Royal London GMAP","page_number":43,"box":{"x":58,"y":279,"width":111,"height":8}},{"id":"0fea123c-2636-489d-95bb-bf5bf1a62493","block_type":"box","text":"Adventurous Fund,","page_number":43,"box":{"x":57,"y":289,"width":100,"height":7}},{"id":"e634c0a8-3390-4fd7-84e5-ea30fb9eb09a","block_type":"box","text":"Class M Accumulation","page_number":43,"box":{"x":57,"y":298,"width":118,"height":7}},{"id":"73f9bb54-e13e-481d-8055-bf36409998bc","block_type":"box","text":"9.36","page_number":43,"box":{"x":266,"y":280,"width":22,"height":6}},{"id":"14c09b5b-cab7-4f1e-9856-7550737c2193","block_type":"box","text":"21.03","page_number":43,"box":{"x":320,"y":280,"width":29,"height":6}},{"id":"de51292b-843a-4949-8621-d130a6ed7449","block_type":"box","text":"44.06","page_number":43,"box":{"x":380,"y":280,"width":30,"height":6}},{"id":"577ba7e2-1fc6-4d17-807c-349fdb3fdc82","block_type":"box","text":"52.65","page_number":43,"box":{"x":441,"y":280,"width":29,"height":6}},{"id":"d37ebf95-fa12-49cd-a00a-35d7eeb43285","block_type":"box","text":"Royal London GMAP","page_number":43,"box":{"x":58,"y":318,"width":111,"height":8}},{"id":"f5a5f9f1-b519-420a-8ea9-a31d6ddb4339","block_type":"box","text":"Adventurous Fund,","page_number":43,"box":{"x":57,"y":328,"width":100,"height":7}},{"id":"66405d47-9012-4974-8c9e-f5cd9d20f335","block_type":"box","text":"Class M Income","page_number":43,"box":{"x":57,"y":337,"width":85,"height":6}},{"id":"02a2d108-0b47-4a7f-ac4f-f2fbf134868b","block_type":"box","text":"9.23","page_number":43,"box":{"x":266,"y":318,"width":22,"height":6}},{"id":"fcab34d8-7e03-4fcb-9272-1c9d49e3a946","block_type":"box","text":"20.93","page_number":43,"box":{"x":320,"y":318,"width":29,"height":6}},{"id":"1928e40a-6064-4de1-a4b4-55092e826e6f","block_type":"box","text":"44.01","page_number":43,"box":{"x":380,"y":318,"width":28,"height":6}},{"id":"b7a64fc3-d198-4bec-841b-a914da2facd8","block_type":"box","text":"52.31","page_number":43,"box":{"x":442,"y":318,"width":27,"height":6}},{"id":"63f852e2-28ee-4605-b049-04488d20e213","block_type":"box","text":"Royal London GMAP","page_number":43,"box":{"x":58,"y":357,"width":111,"height":7}},{"id":"9a1eadc1-6ad6-43cb-b17e-8f1bad13766e","block_type":"box","text":"Adventurous Fund,","page_number":43,"box":{"x":57,"y":366,"width":100,"height":7}},{"id":"eed87fd8-36b8-4ccb-b035-b0b850ebb12b","block_type":"box","text":"Class P Accumulation","page_number":43,"box":{"x":57,"y":376,"width":116,"height":6}},{"id":"3bf139c5-764f-4301-b297-0bed370f0f8a","block_type":"box","text":"9.37","page_number":43,"box":{"x":266,"y":357,"width":22,"height":6}},{"id":"c7dcb985-207e-4ac6-921f-a8b4b9045ed2","block_type":"box","text":"21.09","page_number":43,"box":{"x":320,"y":357,"width":29,"height":6}},{"id":"9c361266-dde9-482d-9c0c-86afc8e8701d","block_type":"box","text":"44.35","page_number":43,"box":{"x":380,"y":357,"width":30,"height":6}},{"id":"27257649-e557-46f9-9fb1-4caff3a3ba5a","block_type":"box","text":"53.06","page_number":43,"box":{"x":441,"y":357,"width":29,"height":6}},{"id":"205b98f6-7422-42d6-9ec1-042610481aaf","block_type":"box","text":"Royal London GMAP","page_number":43,"box":{"x":58,"y":395,"width":111,"height":8}},{"id":"d70d4d6c-cded-42ca-8c40-6325f617bbc4","block_type":"box","text":"Adventurous Fund,","page_number":43,"box":{"x":57,"y":405,"width":100,"height":7}},{"id":"c3914790-c103-426e-9096-5aa8d1ec025b","block_type":"box","text":"Class R Accumulation","page_number":43,"box":{"x":57,"y":414,"width":117,"height":6}},{"id":"b5b683a1-9744-439a-9bb8-fa87f17e250d","block_type":"box","text":"9.56","page_number":43,"box":{"x":266,"y":395,"width":22,"height":6}},{"id":"78bdddb1-7c3d-4080-87c9-39756f3802f7","block_type":"box","text":"21.45","page_number":43,"box":{"x":320,"y":395,"width":29,"height":6}},{"id":"a4897da8-4c23-4583-8a3b-36ea53cb854c","block_type":"box","text":"45.72","page_number":43,"box":{"x":380,"y":395,"width":30,"height":6}},{"id":"63f41975-4683-4af9-8a2b-9b1171158ee1","block_type":"box","text":"55.49","page_number":43,"box":{"x":441,"y":395,"width":29,"height":6}},{"id":"1504dd1a-28c5-4ec1-bce1-701e93a17f01","block_type":"box","text":"Royal London GMAP","page_number":43,"box":{"x":58,"y":434,"width":111,"height":7}},{"id":"2b5d0242-b2a0-4404-9807-9702a643dd30","block_type":"box","text":"Adventurous Fund,","page_number":43,"box":{"x":57,"y":443,"width":100,"height":7}},{"id":"a23df153-58c0-4df5-9f4d-c26ab762ab68","block_type":"box","text":"Class S Accumulation","page_number":43,"box":{"x":57,"y":453,"width":116,"height":6}},{"id":"bb65859a-cd28-4b21-ac1b-9cff18e4563f","block_type":"box","text":"9.52","page_number":43,"box":{"x":266,"y":434,"width":22,"height":6}},{"id":"2142e0e8-0b79-407d-866d-f7faf0d63259","block_type":"box","text":"21.40","page_number":43,"box":{"x":320,"y":434,"width":29,"height":6}},{"id":"68079da4-488a-4f7e-8d7e-de0fd059ebf8","block_type":"box","text":"–","page_number":43,"box":{"x":404,"y":437,"width":6,"height":1}},{"id":"7c7c2cad-e99c-494d-8406-fe054e196331","block_type":"box","text":"–","page_number":43,"box":{"x":464,"y":437,"width":7,"height":1}},{"id":"5b95587c-260b-4491-bbe8-1c59b80ffa26","block_type":"box","text":"Royal London GMAP","page_number":43,"box":{"x":58,"y":472,"width":111,"height":8}},{"id":"f260e479-071d-4ccb-880c-c5138054791e","block_type":"box","text":"Adventurous Fund,","page_number":43,"box":{"x":57,"y":482,"width":100,"height":7}},{"id":"406c0679-fab0-42d7-a482-bb81fa050ce5","block_type":"box","text":"Class S Income","page_number":43,"box":{"x":57,"y":491,"width":83,"height":6}},{"id":"c833932f-3f0d-4865-b82f-797c55b756b8","block_type":"box","text":"9.39","page_number":43,"box":{"x":266,"y":472,"width":22,"height":6}},{"id":"54666b0a-2ea3-4f5e-97ab-b54d5da591eb","block_type":"box","text":"21.26","page_number":43,"box":{"x":320,"y":472,"width":29,"height":6}},{"id":"1a816bd6-4e8e-4e3d-81f2-d2f89563c4e9","block_type":"box","text":"45.54","page_number":43,"box":{"x":380,"y":472,"width":30,"height":6}},{"id":"72a2f80d-ef50-49c1-b102-293b7dd4ec71","block_type":"box","text":"55.09","page_number":43,"box":{"x":441,"y":472,"width":29,"height":6}},{"id":"d09b8b10-be63-49cf-9cee-bd05fb2139da","block_type":"box","text":"Royal London GMAP","page_number":43,"box":{"x":58,"y":511,"width":111,"height":7}},{"id":"fe06cdf9-16c7-490f-86d1-ad6fa2d2b2ab","block_type":"box","text":"Adventurous (Z Acc)","page_number":43,"box":{"x":57,"y":520,"width":108,"height":8}},{"id":"79d82d5d-f5ce-482a-b739-1c37fe33752b","block_type":"box","text":"9.46","page_number":43,"box":{"x":266,"y":511,"width":22,"height":6}},{"id":"105cd3e4-61f7-481a-b7a6-6f2f398b61c6","block_type":"box","text":"21.20","page_number":43,"box":{"x":320,"y":511,"width":29,"height":6}},{"id":"ecdd5f60-ced1-4e40-9ea7-00ac33f9ba7b","block_type":"box","text":"44.87","page_number":43,"box":{"x":380,"y":511,"width":30,"height":6}},{"id":"31e911db-21bc-4732-9b65-e8a92053c9dd","block_type":"box","text":"–","page_number":43,"box":{"x":464,"y":514,"width":7,"height":1}},{"id":"3170740e-c1b5-4a00-98c1-15296102dc47","block_type":"box","text":"IA Mixed Investment 40-85%","page_number":43,"box":{"x":58,"y":540,"width":152,"height":6}},{"id":"55f06846-c451-490a-83f9-9ac6b1b968c7","block_type":"box","text":"Shares Total Return (TR)*","page_number":43,"box":{"x":57,"y":549,"width":138,"height":8}},{"id":"4f0072ad-8d6a-406d-9c79-78b04cda756b","block_type":"box","text":"7.21","page_number":43,"box":{"x":267,"y":540,"width":20,"height":6}},{"id":"cb4bfadd-763b-4da2-9b85-42275825b248","block_type":"box","text":"16.61","page_number":43,"box":{"x":321,"y":540,"width":26,"height":6}},{"id":"f11149ae-7cf5-41fb-9e38-18d430aed8b8","block_type":"box","text":"37.51","page_number":43,"box":{"x":382,"y":540,"width":26,"height":6}},{"id":"590929af-37b8-4196-803a-24fafddb3ed0","block_type":"box","text":"31.90","page_number":43,"box":{"x":442,"y":540,"width":28,"height":6}},{"id":"876d1fc2-f174-4112-a941-1bee7e307a2b","block_type":"box","text":"* Benchmark","page_number":43,"box":{"x":57,"y":577,"width":69,"height":6}},{"id":"eec6f7d7-551e-46b4-a89f-813979e53941","block_type":"box","text":"Class Z Accumulation launched on 31 January 2023 and Class S Accumulation","page_number":43,"box":{"x":57,"y":591,"width":420,"height":8}},{"id":"3fe8cf6e-7daa-41e8-b29a-a81c766d3e18","block_type":"box","text":"launched on 30 September 2024.","page_number":43,"box":{"x":57,"y":602,"width":176,"height":7}},{"id":"5061f463-28a6-4edd-bb13-8169ea4fbcb2","block_type":"box","text":"Past performance is not necessarily a reliable indicator","page_number":43,"box":{"x":58,"y":621,"width":420,"height":10}},{"id":"5542bd7f-0aae-4af0-9d8f-0507aa2372fa","block_type":"box","text":"of future performance. The value of investments and the","page_number":43,"box":{"x":57,"y":635,"width":420,"height":10}},{"id":"5d87bb89-cad5-4c6e-9c59-3f6ba3539700","block_type":"box","text":"income from them is not guaranteed and may go down","page_number":43,"box":{"x":58,"y":649,"width":419,"height":10}},{"id":"b4e7ef98-e565-4824-a9be-c217e68692f9","block_type":"box","text":"as well as up and investors may not get back the amount","page_number":43,"box":{"x":57,"y":664,"width":421,"height":10}},{"id":"197fb06c-c1ea-4af6-b921-29489068187b","block_type":"box","text":"originally invested.","page_number":43,"box":{"x":57,"y":678,"width":138,"height":10}},{"id":"4bd796e7-369a-43aa-8355-5cf61af07a2d","block_type":"box","text":"Source: Royal London Asset Management Limited and","page_number":43,"box":{"x":57,"y":699,"width":420,"height":10}},{"id":"e1621c19-ab0b-479e-8367-2dece3264d10","block_type":"box","text":"Morningstar, as at 30","page_number":43,"box":{"x":58,"y":713,"width":165,"height":10}},{"id":"ff1bee8e-dea5-4532-b251-313e11b1e068","block_type":"box","text":"June 2026. Returns are net of","page_number":43,"box":{"x":237,"y":713,"width":242,"height":8}},{"id":"e2d2aed6-e826-4299-9d0e-1dd92d911309","block_type":"box","text":"management fees. Investors should also note that the total","page_number":43,"box":{"x":58,"y":727,"width":419,"height":10}},{"id":"8115da5d-0fbc-42b5-a470-de2574f928b9","block_type":"box","text":"return is calculated on the Fund’s official 2pm price whereas the","page_number":43,"box":{"x":58,"y":742,"width":419,"height":10}},{"id":"ef0a9139-3801-49fc-aaf9-5dc90afca659","block_type":"box","text":"Fund has been valued as at close of business for the Closing","page_number":43,"box":{"x":58,"y":756,"width":419,"height":10}},{"id":"fbf8f473-6823-4eef-b9c0-890e18020365","block_type":"box","text":"Net Asset Value quoted within the Comparative Table. For","page_number":43,"box":{"x":58,"y":770,"width":420,"height":10}},{"id":"51b00673-bc76-44a9-b4d3-f4f6567a771e","block_type":"box","text":"further information, including ongoing performance and Fund","page_number":43,"box":{"x":57,"y":784,"width":420,"height":11}},{"id":"89ac24b2-2699-4fd6-921c-d0228c378ea4","block_type":"box","text":"breakdown information, please refer to the latest factsheet at","page_number":43,"box":{"x":58,"y":799,"width":420,"height":10}},{"id":"02368ca8-623d-4524-8bba-73ecdedad317","block_type":"box","text":"www.rlam.com.","page_number":43,"box":{"x":57,"y":813,"width":103,"height":8}},{"id":"1ede72e9-94c8-4fec-a594-1e3382bed0ad","block_type":"box","text":"Fund objective","page_number":43,"box":{"x":522,"y":151,"width":135,"height":11}},{"id":"42c4241e-69e9-4e88-8e3d-7b50da50d0d5","block_type":"box","text":"The Fund aims to achieve capital growth over rolling 5-year","page_number":43,"box":{"x":521,"y":169,"width":422,"height":10}},{"id":"b78bbdbf-23d7-45d9-b572-a4823ec789b9","block_type":"box","text":"periods, after the deduction of charges. The Fund forms part of","page_number":43,"box":{"x":522,"y":184,"width":421,"height":10}},{"id":"3244ca63-764f-4460-ae94-209c406402bd","block_type":"box","text":"the Royal London Global Multi-Asset Portfolio (“GMAP”) range","page_number":43,"box":{"x":521,"y":198,"width":421,"height":10}},{"id":"6c57182c-835a-4e6b-b163-2f8267a49040","block_type":"box","text":"and aims to achieve a high level of risk and return relative to","page_number":43,"box":{"x":521,"y":212,"width":421,"height":10}},{"id":"360ef5bc-f8f5-4695-9f92-fa6f4a804a81","block_type":"box","text":"other funds in the GMAP range as further described in the","page_number":43,"box":{"x":521,"y":226,"width":421,"height":10}},{"id":"751d8932-0815-421e-b399-b955ec6db3f6","block_type":"box","text":"investment strategy. The performance comparator for the","page_number":43,"box":{"x":522,"y":241,"width":420,"height":10}},{"id":"792a2f40-b436-48b1-aecf-65127fc69c30","block_type":"box","text":"Fund is the IA Mixed Investment 40–85% Shares sector (“IA","page_number":43,"box":{"x":522,"y":255,"width":420,"height":10}},{"id":"1092853b-4dc3-4ad1-857b-fbaf89446c1b","block_type":"box","text":"Sector”). Funds in the IA Sector must invest between 40% and","page_number":43,"box":{"x":522,"y":269,"width":419,"height":10}},{"id":"90781cfd-9ee3-413d-b41e-d53ba4f5be74","block_type":"box","text":"85% of their assets in shares. The Fund’s assets are generally","page_number":43,"box":{"x":522,"y":283,"width":420,"height":10}},{"id":"8d4d7f4b-33d9-49c7-acd2-6209f84f6588","block_type":"box","text":"consistent with these investment parameters therefore the IA","page_number":43,"box":{"x":522,"y":298,"width":420,"height":10}},{"id":"5b22b63c-9bef-4445-8c25-4a8491e9dc98","block_type":"box","text":"Sector is considered appropriate as a performance comparator.","page_number":43,"box":{"x":522,"y":312,"width":419,"height":10}},{"id":"975d78a8-3733-4a4b-a1df-65ebec68e7ed","block_type":"box","text":"Management of the Fund is not restricted by the use of the IA","page_number":43,"box":{"x":522,"y":326,"width":420,"height":10}},{"id":"8d4cba84-ea4a-4c10-a9ea-19d80735e844","block_type":"box","text":"Sector as a performance comparator.","page_number":43,"box":{"x":522,"y":340,"width":251,"height":10}},{"id":"25dcde09-0edd-43cb-ac05-b0cd90d8c349","block_type":"box","text":"Performance overview","page_number":43,"box":{"x":522,"y":367,"width":209,"height":9}},{"id":"c8ce83db-1d67-4552-a486-299444655914","block_type":"box","text":"The Fund outperformed the benchmark during the period","page_number":43,"box":{"x":521,"y":386,"width":420,"height":10}},{"id":"cc8b958b-92ae-484e-82c3-312f2e791ef6","block_type":"box","text":"under review.","page_number":43,"box":{"x":522,"y":400,"width":88,"height":8}},{"id":"e7320b41-5444-4707-819a-95e5c8820c56","block_type":"box","text":"Market overview","page_number":43,"box":{"x":522,"y":427,"width":154,"height":9}},{"id":"644850e8-701b-49ba-afac-c8f2a5f0bb6b","block_type":"box","text":"Geopolitical tensions in the Middle East were a key driver of","page_number":43,"box":{"x":522,"y":445,"width":421,"height":10}},{"id":"f9a9caf1-2a99-4e29-a42d-3b703f98968f","block_type":"box","text":"markets over the period, which saw commodities rise materially","page_number":43,"box":{"x":522,"y":460,"width":420,"height":10}},{"id":"0127ab0e-db3e-409c-b8f3-6202924ff8f7","block_type":"box","text":"over the start of the year. Despite this, global equity markets","page_number":43,"box":{"x":521,"y":474,"width":421,"height":10}},{"id":"dd170d48-cae5-4e7e-bf79-d4aa68ec60ed","block_type":"box","text":"performed well over the period, with euphoria around Artificial","page_number":43,"box":{"x":522,"y":488,"width":419,"height":10}},{"id":"732ddbb6-2e2e-4685-8b82-9b82774a267b","block_type":"box","text":"Intelligence (AI) once again boosting investor sentiment.","page_number":43,"box":{"x":522,"y":502,"width":419,"height":10}},{"id":"f9ac6872-7f4c-4ef5-b6c9-2cc7275bc9e8","block_type":"box","text":"Semiconductor companies, which are at the heart of the AI","page_number":43,"box":{"x":522,"y":517,"width":419,"height":10}},{"id":"f8c5086b-c89c-4fb6-bbe3-4e5b66fad001","block_type":"box","text":"infrastructure buildout, were beneficiaries, rising sharply.","page_number":43,"box":{"x":522,"y":531,"width":419,"height":10}},{"id":"5582ec41-ea9b-43ea-8690-5137ea2f28e1","block_type":"box","text":"Bond yields ended the period higher, as rising inflation risk","page_number":43,"box":{"x":522,"y":545,"width":420,"height":10}},{"id":"446dbb19-3993-47e9-ad9b-e61db088db11","block_type":"box","text":"saw markets moved to price in interest rate hikes from global","page_number":43,"box":{"x":521,"y":559,"width":420,"height":10}},{"id":"81f1d614-2c47-4e51-ac28-cb107d27cad2","block_type":"box","text":"central banks.","page_number":43,"box":{"x":522,"y":574,"width":94,"height":8}},{"id":"8e8513ec-8853-46dc-bf9f-5182fd108e9f","block_type":"box","text":"Royal London GMAP Adventurous Fund","page_number":43,"box":{"x":59,"y":94,"width":566,"height":17}},{"id":"125a2b2f-3eca-47f0-90d9-6ee72f50b5a0","block_type":"box","text":"Royal London GMAP Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":43,"box":{"x":486,"y":33,"width":427,"height":8}},{"id":"b1b906d0-b627-4d23-86fc-96a043153d2e","block_type":"box","text":"43","page_number":43,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"0678cd2b-2882-4d97-8c92-b6468834a890","block_type":"box","text":"Manager’s Investment Report","page_number":44,"box":{"x":58,"y":94,"width":352,"height":14}},{"id":"126a8ffc-88f7-4b9f-9ec2-ee18af340755","block_type":"box","text":"(continued)","page_number":44,"box":{"x":415,"y":97,"width":75,"height":10}},{"id":"ae03e538-732f-48fa-b6c3-cafb9003a6eb","block_type":"box","text":"Portfolio commentary","page_number":44,"box":{"x":58,"y":151,"width":198,"height":11}},{"id":"ed48f1b1-a2f9-4a9d-9298-9dbe93ce6549","block_type":"box","text":"Having begun the year with a tactically overweight position in","page_number":44,"box":{"x":58,"y":169,"width":419,"height":10}},{"id":"c0b09633-1824-45a8-936f-d5cbe96cbe2c","block_type":"box","text":"equities, the Fund moved to a more defensive position towards","page_number":44,"box":{"x":57,"y":184,"width":421,"height":10}},{"id":"f37b6000-ffd7-4d93-9c70-aa265f62ddc1","block_type":"box","text":"the end of the first quarter, noting the sharp rise of uncertainty","page_number":44,"box":{"x":57,"y":198,"width":421,"height":10}},{"id":"e61eb3cb-324d-4335-83f6-021fe0ecc196","block_type":"box","text":"which accompanied the onset of the war between US and Iran.","page_number":44,"box":{"x":57,"y":212,"width":420,"height":10}},{"id":"817dd7f9-89dc-4b66-a618-7c339816933d","block_type":"box","text":"This saw the Fund move to a tactically underweight position","page_number":44,"box":{"x":57,"y":226,"width":420,"height":10}},{"id":"cbd61960-2a26-46fb-b5c4-0a61c4a11bd4","block_type":"box","text":"heading into the Spring. The Fund shortly added back to","page_number":44,"box":{"x":58,"y":241,"width":420,"height":10}},{"id":"c5404e68-596d-4867-bcd8-a642153b27cb","block_type":"box","text":"equities at the lower levels, as investor sentiment started to","page_number":44,"box":{"x":57,"y":255,"width":420,"height":10}},{"id":"4fb6965d-4e94-4d3e-94f2-0b2bb2b5c376","block_type":"box","text":"improve from oversold levels on renewed AI enthusiasm.","page_number":44,"box":{"x":58,"y":269,"width":380,"height":10}},{"id":"993e7a86-56e3-4ea3-819a-57fdb756effb","block_type":"box","text":"At the regional level, tactical positioning has mostly been","page_number":44,"box":{"x":57,"y":290,"width":420,"height":10}},{"id":"8c8d5a85-a56d-496f-ae72-d96473544bfc","block_type":"box","text":"overweight Japan, the US and emerging markets supported","page_number":44,"box":{"x":57,"y":304,"width":420,"height":10}},{"id":"c87d2efb-999d-4cf7-9884-d466289984a4","block_type":"box","text":"by strong earnings and the enthusiasm around AI stocks.","page_number":44,"box":{"x":58,"y":319,"width":419,"height":10}},{"id":"2eb00128-4181-4afc-84e1-99548c657f60","block_type":"box","text":"The Fund has also remained tactically underweight Europe","page_number":44,"box":{"x":57,"y":333,"width":420,"height":10}},{"id":"341c51f6-2249-4768-aa73-b8bb32b26b97","block_type":"box","text":"throughout most of the period as earnings continued to be","page_number":44,"box":{"x":57,"y":347,"width":420,"height":10}},{"id":"613dda9f-50a4-4f43-8cb6-a35725e8a4f2","block_type":"box","text":"lacklustre and the region suffered with its greater sensitivity to","page_number":44,"box":{"x":58,"y":361,"width":419,"height":10}},{"id":"bc02af45-7b4c-44f1-af7f-fb3e8fc4bba8","block_type":"box","text":"the higher energy prices.","page_number":44,"box":{"x":57,"y":376,"width":167,"height":10}},{"id":"dc759547-1d8f-4db7-8125-6ce798730121","block_type":"box","text":"Elsewhere, our strategic allocation to commodities proved","page_number":44,"box":{"x":58,"y":397,"width":419,"height":10}},{"id":"a1ce001f-33ef-4ad4-b6ef-371fa999192b","block_type":"box","text":"beneficial particularly in the early months of 2026, as the","page_number":44,"box":{"x":58,"y":411,"width":419,"height":10}},{"id":"569e74c6-a4bc-4267-b871-10106c183088","block_type":"box","text":"asset class surged over the quarter as escalating geopolitical","page_number":44,"box":{"x":57,"y":425,"width":420,"height":10}},{"id":"bbbbaa7d-67f7-4ddb-9f4c-010e3d50a9cb","block_type":"box","text":"tensions culminated in direct military conflict with Iran. Brent","page_number":44,"box":{"x":57,"y":439,"width":421,"height":10}},{"id":"7fc13bab-0750-4c14-accd-41370123943e","block_type":"box","text":"crude recorded its largest quarterly gain since the Gulf War in","page_number":44,"box":{"x":57,"y":454,"width":420,"height":10}},{"id":"3ac4e44d-6c9a-4450-a2a6-f9391bee0307","block_type":"box","text":"1990 (+94%).","page_number":44,"box":{"x":58,"y":468,"width":87,"height":10}},{"id":"50d0c70b-c306-4808-9752-ac1e29be964b","block_type":"box","text":"Gold had been held as a separate tactical position heading","page_number":44,"box":{"x":57,"y":489,"width":420,"height":10}},{"id":"70fab578-4bb1-4cdc-8906-0330166c0a02","block_type":"box","text":"into the year before being fully removed towards the end of","page_number":44,"box":{"x":58,"y":503,"width":421,"height":10}},{"id":"985040a8-a511-4e72-9456-a7a94b5bfc89","block_type":"box","text":"March. The position had continued to add value in the Fund,","page_number":44,"box":{"x":58,"y":518,"width":419,"height":9}},{"id":"91af548f-ff2a-4a21-978b-0d0c4a6aac7a","block_type":"box","text":"benefitting last year from a backdrop of elevated risks around","page_number":44,"box":{"x":58,"y":532,"width":419,"height":10}},{"id":"10b1b6b0-97a5-49af-aee1-07fc3cfd14c6","block_type":"box","text":"geopolitics and US policy.","page_number":44,"box":{"x":57,"y":546,"width":173,"height":10}},{"id":"be1afdad-d174-4e1a-8d0c-c7c5bde19210","block_type":"box","text":"Investment outlook","page_number":44,"box":{"x":522,"y":151,"width":179,"height":9}},{"id":"49570402-86a2-4b0d-b583-39c6cd808b18","block_type":"box","text":"The Investment Clock is in Stagflation, reflecting the high oil","page_number":44,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"737869c7-8cef-44a4-bf08-e25a15da8139","block_type":"box","text":"price and weaker business surveys amid the still uncertain US","page_number":44,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"14c0477f-121b-4305-b142-3c225c0a367b","block_type":"box","text":"Iran conflict.","page_number":44,"box":{"x":522,"y":198,"width":81,"height":8}},{"id":"064b4c33-9b31-48bb-a304-4a542e504d8a","block_type":"box","text":"Energy prices retreated last quarter on signs of a fragile","page_number":44,"box":{"x":522,"y":219,"width":420,"height":10}},{"id":"20888f47-bd1e-4356-a944-0c6f7c626ae6","block_type":"box","text":"peace deal, but tensions have since risen again. Commodities","page_number":44,"box":{"x":522,"y":233,"width":420,"height":10}},{"id":"d9781cc0-7709-4616-8042-7b4d0418f826","block_type":"box","text":"remain a good hedge against a renewed flare up in geopolitical","page_number":44,"box":{"x":522,"y":247,"width":419,"height":10}},{"id":"8b56eff1-ed62-4116-b605-ec5aab2811bc","block_type":"box","text":"tensions and spikes in inflation.","page_number":44,"box":{"x":521,"y":262,"width":210,"height":10}},{"id":"368f280a-0a70-4670-87d0-5ca8367ff646","block_type":"box","text":"The AI boom is raising corporate earnings of technology","page_number":44,"box":{"x":521,"y":283,"width":421,"height":10}},{"id":"28219d7a-04b3-42eb-8f64-0e20ae2a9bc9","block_type":"box","text":"stocks. Cycle-adjusted valuations are near dot com era levels.","page_number":44,"box":{"x":521,"y":297,"width":420,"height":10}},{"id":"35495da2-9592-4cab-9831-735efcf3e577","block_type":"box","text":"Innovation waves often get overblown in financial markets,","page_number":44,"box":{"x":522,"y":311,"width":419,"height":10}},{"id":"609f67f9-658b-4cef-abb1-2b0d2f5480dd","block_type":"box","text":"even when their long-term impact is transformative.","page_number":44,"box":{"x":521,"y":325,"width":345,"height":10}},{"id":"1b505970-ebc5-44d5-9fc3-e2bbc3692cfe","block_type":"box","text":"Tactically, we maintain a moderate overweight position in","page_number":44,"box":{"x":521,"y":346,"width":420,"height":10}},{"id":"07017b19-c25a-471a-a36c-4cadeb3eac30","block_type":"box","text":"equities and underweight position in government bonds.","page_number":44,"box":{"x":521,"y":361,"width":377,"height":10}},{"id":"ab59b022-3ded-47ae-98f1-ef646a0f0d6a","block_type":"box","text":"Please see our Investment Clock blog at www.rlam.com for our","page_number":44,"box":{"x":522,"y":382,"width":421,"height":10}},{"id":"397bc817-b55a-4a01-af66-1542137e782e","block_type":"box","text":"latest views.","page_number":44,"box":{"x":522,"y":396,"width":81,"height":8}},{"id":"52e50082-f6c3-4d85-a9b3-2d154a9eb6c8","block_type":"box","text":"Trevor Greetham","page_number":44,"box":{"x":521,"y":438,"width":122,"height":8}},{"id":"12b30956-12b5-4fcb-a49b-e94167e2ce92","block_type":"box","text":"Fund Manager","page_number":44,"box":{"x":522,"y":452,"width":104,"height":10}},{"id":"7db9bf43-b006-4314-b977-8cba66ab0e6c","block_type":"box","text":"Royal London Asset Management Limited","page_number":44,"box":{"x":522,"y":466,"width":303,"height":10}},{"id":"43257ddb-0c4f-4204-855d-3c88f23280b3","block_type":"box","text":"30","page_number":44,"box":{"x":522,"y":481,"width":15,"height":7}},{"id":"9f7dec52-13f3-4558-983e-2ad0b1453158","block_type":"box","text":"June 2026","page_number":44,"box":{"x":542,"y":481,"width":74,"height":7}},{"id":"f7af75b5-7413-4bbf-ae5c-6a4766f4a27d","block_type":"box","text":"Please note that this commentary is written as at end of the","page_number":44,"box":{"x":522,"y":515,"width":420,"height":10}},{"id":"1ad92362-297f-48a8-bcff-0b5b6660eaed","block_type":"box","text":"review period. For insights into market events or positioning","page_number":44,"box":{"x":522,"y":528,"width":419,"height":10}},{"id":"936a3b3b-8873-4f51-9df8-6a775e67eeb4","block_type":"box","text":"since then, please go to www.rlam.com.","page_number":44,"box":{"x":521,"y":541,"width":270,"height":10}},{"id":"3436335b-b61a-4e44-a17e-073f0d460c1c","block_type":"box","text":"This report covers investment performance, activity and","page_number":44,"box":{"x":521,"y":557,"width":420,"height":10}},{"id":"99117b32-f43d-432b-b6fb-0f3dadc86ea8","block_type":"box","text":"outlook. For a wider look at the Fund, our Annual Assessment","page_number":44,"box":{"x":521,"y":570,"width":421,"height":10}},{"id":"b5458b88-80fa-4d0e-a158-231e5df1cee1","block_type":"box","text":"of Value report is available at www.rlam.com.","page_number":44,"box":{"x":521,"y":583,"width":306,"height":10}},{"id":"a932d3f6-9b07-428b-abe1-713f88be7da7","block_type":"box","text":"For further help on some of the terms used, please see our","page_number":44,"box":{"x":522,"y":600,"width":421,"height":10}},{"id":"4934a537-a2c0-43d6-a054-92ed1851ce2d","block_type":"box","text":"glossary at www.rlam.com/uk/individual-investors/glossary.","page_number":44,"box":{"x":521,"y":613,"width":400,"height":10}},{"id":"06409bd8-ecb5-4142-abd9-6cd398cf52a2","block_type":"box","text":"The Task Force on Climate-related Financial Disclosures","page_number":44,"box":{"x":521,"y":629,"width":421,"height":8}},{"id":"3e6b9b48-c8e0-4b70-96e1-054dd882ffd2","block_type":"box","text":"(TCFD) Report can be found under the relevant Fund name","page_number":44,"box":{"x":522,"y":642,"width":420,"height":10}},{"id":"ae16fa87-96ce-47b7-b0b5-db358b47ae2e","block_type":"box","text":"at","page_number":44,"box":{"x":521,"y":656,"width":13,"height":7}},{"id":"b4676ca1-f2fb-45ca-b287-f021788279b6","block_type":"box","text":"https://www.rlam.com/uk/individual-investors/funds","page_number":44,"box":{"x":545,"y":655,"width":392,"height":10}},{"id":"6419d93e-3b12-40e1-8995-8aa4604a7cbe","block_type":"box","text":".","page_number":44,"box":{"x":940,"y":662,"width":1,"height":1}},{"id":"162d1df3-4bd8-43c1-bfe1-a237483b96c9","block_type":"box","text":"This report has been prepared in accordance with the","page_number":44,"box":{"x":521,"y":669,"width":421,"height":9}},{"id":"162fc086-483e-459b-b445-783b0eeba5f8","block_type":"box","text":"recommendations of the TCFD, which aims to help the","page_number":44,"box":{"x":522,"y":682,"width":420,"height":9}},{"id":"5b6b11c1-42fb-4218-91e8-993ca223427d","block_type":"box","text":"investment community build a more in-depth and consistent","page_number":44,"box":{"x":522,"y":695,"width":420,"height":10}},{"id":"a297edb2-182c-4e3b-999f-b0e62656708e","block_type":"box","text":"picture of the impact of climate change. A copy of Royal","page_number":44,"box":{"x":522,"y":708,"width":419,"height":10}},{"id":"c69ceb73-31ab-441b-89ae-fc0f5ccf5ca5","block_type":"box","text":"London Asset Management Limited’s annual TCFD Report","page_number":44,"box":{"x":522,"y":721,"width":420,"height":10}},{"id":"bcc362ee-fd6c-44c6-8fef-f38ff5f0ba29","block_type":"box","text":"can also be found on our website.","page_number":44,"box":{"x":522,"y":734,"width":227,"height":8}},{"id":"850d5843-e366-4a08-91fc-f6fe7426f7ec","block_type":"box","text":"The views expressed are the author’s own and do not","page_number":44,"box":{"x":521,"y":750,"width":421,"height":10}},{"id":"1707cfa6-4824-4ecc-b5b0-dd1260af9038","block_type":"box","text":"constitute investment advice and are not an indication","page_number":44,"box":{"x":522,"y":763,"width":419,"height":8}},{"id":"8e025e06-5671-4d04-bbe6-19046439490a","block_type":"box","text":"of future Fund performance. Portfolio holdings are","page_number":44,"box":{"x":521,"y":776,"width":421,"height":10}},{"id":"950d4e6d-fd5f-491b-872b-82bcca6d5773","block_type":"box","text":"subject to change, for information only and are not","page_number":44,"box":{"x":521,"y":789,"width":421,"height":10}},{"id":"d2f08be9-e33b-4d71-b0b9-cb573abbf3a1","block_type":"box","text":"investment recommendations.","page_number":44,"box":{"x":522,"y":803,"width":202,"height":7}},{"id":"c1951a6b-5d69-43a8-9727-2bdd737eaac6","block_type":"box","text":"Source: Royal London Asset Management Limited, unless","page_number":44,"box":{"x":522,"y":819,"width":392,"height":10}},{"id":"f8840374-ee41-4411-be69-153de09be5ef","block_type":"box","text":"otherwise stated.","page_number":44,"box":{"x":521,"y":832,"width":115,"height":8}},{"id":"d85dc877-e158-4f2e-a140-fb8802625d86","block_type":"box","text":"Royal London GMAP Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":44,"box":{"x":486,"y":33,"width":427,"height":8}},{"id":"bfb5d271-72b1-4ab0-a91b-acb5627126a8","block_type":"box","text":"44","page_number":44,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"9f8f10c3-849b-4cdf-b69b-bc2d4b620def","block_type":"box","text":"Class M Accumulation","page_number":45,"box":{"x":57,"y":151,"width":206,"height":9}},{"id":"1b38503d-3b82-4bda-a0a9-bab672fc0635","block_type":"box","text":"Change in net assets","page_number":45,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"0eb16d38-e56c-43ae-bbf2-897edaeb7d97","block_type":"box","text":"30/06/26","page_number":45,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"0a844e6b-ce5d-4a50-b7ba-c84d4b6ab0ea","block_type":"box","text":"31/12/25","page_number":45,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"ddbabbbd-7332-49b8-b869-1a9ecfedd79c","block_type":"box","text":"31/12/24","page_number":45,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"c0e9ea4b-1227-44d7-9280-4746ffa1e287","block_type":"box","text":"31/12/23","page_number":45,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"ae25fcaa-13a9-42bc-baec-1924d5ca91fb","block_type":"box","text":"per share","page_number":45,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"9cd3cdad-3980-4e4a-9406-0322b84710cc","block_type":"box","text":"(p)","page_number":45,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"aa02acaf-717c-4987-aa93-c93b1f8cd913","block_type":"box","text":"(p)","page_number":45,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"48d08dfc-c4d6-47eb-ab8c-249b9d496580","block_type":"box","text":"(p)","page_number":45,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"711ce241-067c-4bde-bad3-216f6f8c982f","block_type":"box","text":"(p)","page_number":45,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"d3c0f69a-86bc-408f-8775-bd23dfd9de3a","block_type":"box","text":"Opening net asset","page_number":45,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"58802a21-9010-442e-9375-08b0f3f51f96","block_type":"box","text":"value per share","page_number":45,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"51566539-2d05-4ecf-8e76-865db218b1c6","block_type":"box","text":"209.55","page_number":45,"box":{"x":222,"y":205,"width":37,"height":6}},{"id":"2219ab69-b3ad-4e8a-8a44-d4c49c042846","block_type":"box","text":"188.23","page_number":45,"box":{"x":295,"y":205,"width":35,"height":6}},{"id":"5d15c871-4e85-431b-a927-bab75e313f87","block_type":"box","text":"167.57","page_number":45,"box":{"x":368,"y":205,"width":33,"height":6}},{"id":"67780f6f-5c8f-4cde-ad58-3b10a948d59c","block_type":"box","text":"152.96","page_number":45,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"867dc764-3a16-48ec-8d60-09dd24780a2c","block_type":"box","text":"Return before operating","page_number":45,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"2d1abbf5-252b-4db2-9bba-1763051fd116","block_type":"box","text":"charges*","page_number":45,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"3ed8d0ae-aaec-490d-895b-1d13e3f42e0f","block_type":"box","text":"20.90","page_number":45,"box":{"x":229,"y":232,"width":29,"height":6}},{"id":"aa21a406-cdd3-47e2-a771-0c6b072fe3a2","block_type":"box","text":"22.49","page_number":45,"box":{"x":300,"y":232,"width":30,"height":6}},{"id":"aa2bc606-8c0d-4adf-b863-c031b52265d3","block_type":"box","text":"21.74","page_number":45,"box":{"x":374,"y":232,"width":27,"height":6}},{"id":"97ecb9ca-71f0-4f85-bc41-ab904b330620","block_type":"box","text":"15.57","page_number":45,"box":{"x":445,"y":232,"width":28,"height":6}},{"id":"7a5a4f6b-df49-4927-ae7f-1e89f10dbd1e","block_type":"box","text":"Operating charges","page_number":45,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"ca66417f-d02a-4bda-b18c-c488a33116c4","block_type":"box","text":"(0.65)","page_number":45,"box":{"x":232,"y":259,"width":31,"height":8}},{"id":"bc910f06-ca9c-4213-9aef-a3d6b556d855","block_type":"box","text":"(1.17)","page_number":45,"box":{"x":306,"y":259,"width":28,"height":8}},{"id":"7d23c957-9b02-4fd9-95a1-f6301315d788","block_type":"box","text":"(1.08)","page_number":45,"box":{"x":376,"y":259,"width":29,"height":8}},{"id":"e883099d-bb56-4145-b258-54b3b3a92ec4","block_type":"box","text":"(0.96)","page_number":45,"box":{"x":447,"y":259,"width":30,"height":8}},{"id":"ed3cba80-2837-4357-81fd-2294b3b6c6fd","block_type":"box","text":"Return after operating","page_number":45,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"526582c1-ae5a-483f-881d-238fee0e16e6","block_type":"box","text":"charges*","page_number":45,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"e0ac3c14-0b41-436c-b7a3-fc3da63b725f","block_type":"box","text":"20.25","page_number":45,"box":{"x":229,"y":276,"width":30,"height":6}},{"id":"7de60c5f-822c-45b4-bf72-eedf099b16c9","block_type":"box","text":"21.32","page_number":45,"box":{"x":301,"y":276,"width":29,"height":6}},{"id":"fc860ba8-606c-43a7-a827-ff24834210db","block_type":"box","text":"20.66","page_number":45,"box":{"x":372,"y":276,"width":29,"height":6}},{"id":"625ae74b-0823-470c-996b-9bfae8bd91c5","block_type":"box","text":"14.61","page_number":45,"box":{"x":445,"y":276,"width":26,"height":6}},{"id":"d7c3c97c-14ce-49ba-89a0-bde319b6d6fc","block_type":"box","text":"Distributions on","page_number":45,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"71092771-17b7-4f96-901d-2f770d6df5a7","block_type":"box","text":"accumulation shares","page_number":45,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"40897aaf-1adf-4887-bf93-2366830fbbaa","block_type":"box","text":"(1.09)","page_number":45,"box":{"x":233,"y":303,"width":30,"height":8}},{"id":"d2afc51f-0edf-480a-aee4-cb247ad96991","block_type":"box","text":"(3.02)","page_number":45,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"e88b3a21-6e8b-4c9d-94ed-8e12f73405b7","block_type":"box","text":"(3.61)","page_number":45,"box":{"x":376,"y":303,"width":29,"height":8}},{"id":"ecd14488-5c1b-4b5f-8a85-278bb247189b","block_type":"box","text":"(3.32)","page_number":45,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"344ce56f-02ce-44e9-81da-47a58e721da1","block_type":"box","text":"Retained distributions","page_number":45,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"f1b0dd3f-d1a7-4cfd-b0b7-154911c830c9","block_type":"box","text":"on accumulation shares","page_number":45,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"b4dc8065-6be7-4556-9646-16e9cf440055","block_type":"box","text":"1.09","page_number":45,"box":{"x":237,"y":330,"width":22,"height":6}},{"id":"2d5d67b9-dba9-4e3b-8662-66d89b383e68","block_type":"box","text":"3.02","page_number":45,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"b417059e-153e-46ff-a225-172b06053640","block_type":"box","text":"3.61","page_number":45,"box":{"x":379,"y":330,"width":21,"height":6}},{"id":"6ce0921d-eeab-435c-9032-d254210e7139","block_type":"box","text":"3.32","page_number":45,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"db701d87-707e-48d3-8d0b-94ea657cc324","block_type":"box","text":"Closing net asset","page_number":45,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"c7eaa70f-b273-4802-aa04-0c8b75cbe7dd","block_type":"box","text":"value per share","page_number":45,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"99da4271-f26c-4ff4-a713-8b5793e36427","block_type":"box","text":"229.80","page_number":45,"box":{"x":222,"y":357,"width":36,"height":6}},{"id":"8fda7551-5a42-432f-946d-664e46197e1b","block_type":"box","text":"209.55","page_number":45,"box":{"x":294,"y":357,"width":36,"height":6}},{"id":"9e72d72b-ae1f-40ad-8f69-ba1400abaf77","block_type":"box","text":"188.23","page_number":45,"box":{"x":366,"y":357,"width":35,"height":6}},{"id":"f88da17f-19e8-400a-aa30-34345e7732c6","block_type":"box","text":"167.57","page_number":45,"box":{"x":439,"y":357,"width":34,"height":6}},{"id":"168b1372-7683-43e5-ba60-db99ec5a7087","block_type":"box","text":"* after direct transaction","page_number":45,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"19fb4e89-7840-460f-a1b2-1e8599c3e92d","block_type":"box","text":"costs of:","page_number":45,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"bf9e94fe-4e58-4db5-8094-983569b5c7d1","block_type":"box","text":"0.02","page_number":45,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"5b520ad2-fc3a-4c9a-90fd-32dad479fa9b","block_type":"box","text":"0.04","page_number":45,"box":{"x":307,"y":385,"width":23,"height":6}},{"id":"73a9f4f9-fab7-400f-9c19-6d2b9a07fe66","block_type":"box","text":"0.07","page_number":45,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"2ffed3c2-1218-41e9-a479-532ecf7b1cf8","block_type":"box","text":"0.06","page_number":45,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"1d715b29-4a9c-473c-b99f-ab4bf5231d06","block_type":"box","text":"Performance","page_number":45,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"3596824d-e4d0-4f02-97ab-bea1eeee1cf4","block_type":"box","text":"Return after charges","page_number":45,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"68f7f229-cf5e-4bfe-9faa-3047e0d6d77f","block_type":"box","text":"9.66%","page_number":45,"box":{"x":225,"y":419,"width":33,"height":7}},{"id":"c634644b-69e5-45f7-92b0-252ac4829bf4","block_type":"box","text":"11.33%","page_number":45,"box":{"x":292,"y":419,"width":38,"height":7}},{"id":"4c6f0708-9d7d-4f62-b43c-64923bbd8dbe","block_type":"box","text":"12.33%","page_number":45,"box":{"x":363,"y":419,"width":38,"height":7}},{"id":"a7e9aa14-ae89-4b53-b85a-79d2c40c571e","block_type":"box","text":"9.55%","page_number":45,"box":{"x":440,"y":419,"width":33,"height":7}},{"id":"0a90e700-0d9f-48a8-93ad-f1331801fac6","block_type":"box","text":"Other information","page_number":45,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"bec163e6-8937-40da-8a9a-6e9d43c523ee","block_type":"box","text":"Closing net asset value","page_number":45,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"950882bb-7881-471e-98d9-f03ffc2b42bf","block_type":"box","text":"(£’000)","page_number":45,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"8df23d6d-6a4a-441d-a5d6-4ae486ef4b15","block_type":"box","text":"219,941","page_number":45,"box":{"x":217,"y":447,"width":40,"height":7}},{"id":"6e9667d2-86e2-4776-a558-7247f75202ae","block_type":"box","text":"191,060","page_number":45,"box":{"x":289,"y":447,"width":41,"height":7}},{"id":"ae9728a9-aebc-42b7-8468-9e7bca514d3d","block_type":"box","text":"164,322","page_number":45,"box":{"x":360,"y":447,"width":41,"height":7}},{"id":"ccfb5683-8ab7-43c2-935c-ecc3285194ac","block_type":"box","text":"109,545","page_number":45,"box":{"x":431,"y":447,"width":42,"height":7}},{"id":"72bd4730-f363-4761-8690-a5e47d3aedff","block_type":"box","text":"Closing number of","page_number":45,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"88429feb-e0d4-4b9d-99b6-f8452a6e7b75","block_type":"box","text":"shares","page_number":45,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"a1dcb163-43e3-4471-afe4-7be3a1b1ffb9","block_type":"box","text":"95,708,035","page_number":45,"box":{"x":203,"y":466,"width":56,"height":7}},{"id":"46e0f678-9de5-49c1-940d-545339dfbd1b","block_type":"box","text":"91,177,392","page_number":45,"box":{"x":278,"y":466,"width":52,"height":7}},{"id":"ebd6c4c7-d238-4b04-acbb-cdc6a334962b","block_type":"box","text":"87,297,877","page_number":45,"box":{"x":348,"y":466,"width":53,"height":7}},{"id":"3ac6de3f-960b-4af6-8e2b-40044f6b2c26","block_type":"box","text":"65,373,183","page_number":45,"box":{"x":419,"y":466,"width":54,"height":7}},{"id":"9a18ae93-4efd-4a23-9468-8cbc177342e6","block_type":"box","text":"Operating charges","page_number":45,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"e5c3ea67-8cff-4e18-9e0a-67d8dbb87328","block_type":"box","text":"0.60%","page_number":45,"box":{"x":225,"y":485,"width":33,"height":6}},{"id":"0b6c660b-fcfc-4b2b-b568-a1ad1d9f7324","block_type":"box","text":"0.60%","page_number":45,"box":{"x":297,"y":485,"width":33,"height":6}},{"id":"40f095c3-6729-4c55-956b-3ed203edc9cb","block_type":"box","text":"0.60%","page_number":45,"box":{"x":368,"y":485,"width":33,"height":6}},{"id":"e23c547b-4e91-463f-b429-639a84b80400","block_type":"box","text":"0.60%","page_number":45,"box":{"x":440,"y":485,"width":33,"height":6}},{"id":"ce8f2688-b56e-4e16-8df6-c8f83e39b2bf","block_type":"box","text":"Direct transaction costs","page_number":45,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"9549c966-ea67-424d-b7dd-7800a641881b","block_type":"box","text":"0.01%","page_number":45,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"eed3e980-6497-4c69-b9f1-918ff11850a7","block_type":"box","text":"0.02%","page_number":45,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"544a0860-36a4-4650-bc76-2204ee871bff","block_type":"box","text":"0.04%","page_number":45,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"0e8b2f5e-1243-4321-8b0e-3fa4d3de4a11","block_type":"box","text":"0.03%","page_number":45,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"f1e78d0c-5cf3-4875-b899-c1a5f9fdc519","block_type":"box","text":"Prices","page_number":45,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"2defab4b-b618-4f55-97f1-ef6bcf50554a","block_type":"box","text":"^","page_number":45,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"c4975974-9a40-4329-a85b-8be979624d52","block_type":"box","text":"Highest share price","page_number":45,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"2402e144-d287-4469-aefd-a9ed86973860","block_type":"box","text":"232.00","page_number":45,"box":{"x":222,"y":522,"width":36,"height":6}},{"id":"4d72fb55-f5eb-4aef-ada0-929066164833","block_type":"box","text":"211.30","page_number":45,"box":{"x":295,"y":522,"width":35,"height":6}},{"id":"adeadbc1-af00-4a46-a66e-f0f16b1bfdea","block_type":"box","text":"191.50","page_number":45,"box":{"x":367,"y":522,"width":34,"height":6}},{"id":"33d13e0c-1665-458c-9ab7-c3b2b2d51274","block_type":"box","text":"168.30","page_number":45,"box":{"x":438,"y":522,"width":35,"height":6}},{"id":"43fdf2f3-eec6-4675-a39d-d3796635c3ca","block_type":"box","text":"Lowest share price","page_number":45,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"61a5cc25-a233-4f52-ad4a-421ee7490018","block_type":"box","text":"209.50","page_number":45,"box":{"x":222,"y":532,"width":36,"height":6}},{"id":"2b5dd959-022a-451b-aba0-82b7240618ae","block_type":"box","text":"172.40","page_number":45,"box":{"x":295,"y":532,"width":35,"height":6}},{"id":"7179d532-0e3c-41f2-b532-bc78bccfe269","block_type":"box","text":"159.00","page_number":45,"box":{"x":367,"y":532,"width":34,"height":6}},{"id":"a07a0570-8efd-441f-8e5a-0e3cb47e867e","block_type":"box","text":"152.10","page_number":45,"box":{"x":440,"y":532,"width":33,"height":6}},{"id":"572aad62-ff5d-48fe-b52c-597e20c6c1be","block_type":"box","text":"Class M Income","page_number":45,"box":{"x":57,"y":560,"width":146,"height":9}},{"id":"0d1cc88a-0e23-4190-bed8-ad80cacad78a","block_type":"box","text":"Change in net assets","page_number":45,"box":{"x":57,"y":586,"width":120,"height":8}},{"id":"8e21a377-8db0-4f95-bfa5-ac900030114e","block_type":"box","text":"30/06/26","page_number":45,"box":{"x":212,"y":586,"width":47,"height":6}},{"id":"4a1b9838-3049-4e68-a736-11342f85947d","block_type":"box","text":"31/12/25","page_number":45,"box":{"x":285,"y":586,"width":45,"height":6}},{"id":"2301a7e7-5485-4e60-92c4-be3c591095d0","block_type":"box","text":"31/12/24","page_number":45,"box":{"x":356,"y":586,"width":46,"height":6}},{"id":"966bfddd-dbac-4135-b1bb-eb7d709ce07a","block_type":"box","text":"31/12/23","page_number":45,"box":{"x":428,"y":586,"width":45,"height":6}},{"id":"8c8c2b9d-2258-4662-be81-b40701b380c5","block_type":"box","text":"per share","page_number":45,"box":{"x":57,"y":595,"width":54,"height":8}},{"id":"7b6d7698-547d-4527-84f9-f0c0ae8abcb4","block_type":"box","text":"(p)","page_number":45,"box":{"x":245,"y":595,"width":13,"height":8}},{"id":"36163a1d-4ccc-44a3-bd75-f06fe2901789","block_type":"box","text":"(p)","page_number":45,"box":{"x":316,"y":595,"width":14,"height":8}},{"id":"71096a5c-954e-4b19-be43-dcb93c5c5e5a","block_type":"box","text":"(p)","page_number":45,"box":{"x":387,"y":595,"width":14,"height":8}},{"id":"01a15dbe-d153-4f0e-83f7-2e2acc12ec80","block_type":"box","text":"(p)","page_number":45,"box":{"x":459,"y":595,"width":14,"height":8}},{"id":"27c365b0-16e3-4db7-a088-296e111f7624","block_type":"box","text":"Opening net asset","page_number":45,"box":{"x":57,"y":614,"width":97,"height":8}},{"id":"43dd2511-21c7-48f5-b552-d6efa1b86525","block_type":"box","text":"value per share","page_number":45,"box":{"x":57,"y":624,"width":82,"height":7}},{"id":"d10d1619-ee6f-4bd3-bd99-e6687dab4365","block_type":"box","text":"178.76","page_number":45,"box":{"x":225,"y":614,"width":33,"height":6}},{"id":"af55daad-b560-46f9-8292-7a14855541f9","block_type":"box","text":"162.98","page_number":45,"box":{"x":295,"y":614,"width":35,"height":6}},{"id":"374d02eb-474c-4f1e-8027-eae008c4cbd1","block_type":"box","text":"147.95","page_number":45,"box":{"x":368,"y":614,"width":33,"height":6}},{"id":"4f2fe3be-02f1-439b-8686-0d978324adbc","block_type":"box","text":"137.76","page_number":45,"box":{"x":440,"y":614,"width":33,"height":6}},{"id":"847c2556-24dc-4c86-ba97-49c8d30d1d24","block_type":"box","text":"Return before operating","page_number":45,"box":{"x":58,"y":641,"width":125,"height":8}},{"id":"05dba18a-bac7-4a62-9631-fcd51e69b0a3","block_type":"box","text":"charges*","page_number":45,"box":{"x":57,"y":650,"width":47,"height":8}},{"id":"18c24525-384d-455c-b4b6-a4ef9bf75eb4","block_type":"box","text":"17.86","page_number":45,"box":{"x":232,"y":641,"width":26,"height":6}},{"id":"5330f359-e18a-4995-97bd-1bbb002313c7","block_type":"box","text":"19.40","page_number":45,"box":{"x":302,"y":641,"width":28,"height":6}},{"id":"11decbcf-659f-4e67-9642-cfc7d900a52a","block_type":"box","text":"19.17","page_number":45,"box":{"x":375,"y":641,"width":26,"height":6}},{"id":"bf9e072e-f51f-494d-82fc-3d85305f4c81","block_type":"box","text":"14.03","page_number":45,"box":{"x":445,"y":641,"width":28,"height":6}},{"id":"6b48ef18-25d3-47ad-99fd-d193d99cbdaf","block_type":"box","text":"Operating charges","page_number":45,"box":{"x":57,"y":668,"width":99,"height":8}},{"id":"50e3a336-5dc4-4c91-8f00-7f0761e6f285","block_type":"box","text":"(0.56)","page_number":45,"box":{"x":232,"y":668,"width":31,"height":8}},{"id":"50caddd0-7e52-41da-92fc-9a9e0c7a2c47","block_type":"box","text":"(1.01)","page_number":45,"box":{"x":306,"y":668,"width":28,"height":8}},{"id":"d341fb04-8592-4eed-abbf-42c26ff25cc4","block_type":"box","text":"(0.95)","page_number":45,"box":{"x":375,"y":668,"width":30,"height":8}},{"id":"33e68bc2-7e2c-407b-9fdf-6fc6e136c6c5","block_type":"box","text":"(0.86)","page_number":45,"box":{"x":447,"y":668,"width":30,"height":8}},{"id":"d17841b0-4638-434c-8e4e-212d524aeb24","block_type":"box","text":"Return after operating","page_number":45,"box":{"x":58,"y":685,"width":116,"height":8}},{"id":"64d3936a-8702-4060-804d-9ef03b4efa88","block_type":"box","text":"charges*","page_number":45,"box":{"x":57,"y":695,"width":47,"height":8}},{"id":"238a2582-4353-486a-bcb2-d6321d689c01","block_type":"box","text":"17.30","page_number":45,"box":{"x":232,"y":686,"width":26,"height":6}},{"id":"cab7194f-597c-4643-97a8-8b0adb3ef3a1","block_type":"box","text":"18.39","page_number":45,"box":{"x":302,"y":686,"width":28,"height":6}},{"id":"e68bad0b-9dcc-453d-a53f-30511ed3efb8","block_type":"box","text":"18.22","page_number":45,"box":{"x":373,"y":686,"width":28,"height":6}},{"id":"bedb49e0-8206-4bf6-b709-bace40642d7b","block_type":"box","text":"13.17","page_number":45,"box":{"x":447,"y":686,"width":26,"height":6}},{"id":"3b22bd48-8338-4973-b208-9652305e57a7","block_type":"box","text":"Distributions on income","page_number":45,"box":{"x":58,"y":713,"width":124,"height":6}},{"id":"837e554d-0e5f-4855-bf2d-36abd37ec932","block_type":"box","text":"shares","page_number":45,"box":{"x":57,"y":722,"width":35,"height":6}},{"id":"9c061750-c98c-4bad-a6a6-d1419752e89d","block_type":"box","text":"(0.93)","page_number":45,"box":{"x":233,"y":712,"width":30,"height":8}},{"id":"90f809ef-bc49-4c51-8212-774f0449e5d1","block_type":"box","text":"(2.61)","page_number":45,"box":{"x":305,"y":712,"width":29,"height":8}},{"id":"9e5e84eb-c83f-42c5-8262-6370a941310e","block_type":"box","text":"(3.19)","page_number":45,"box":{"x":377,"y":712,"width":28,"height":8}},{"id":"07ab1ae4-cc15-4dd0-b5da-01f40d261a7a","block_type":"box","text":"(2.98)","page_number":45,"box":{"x":447,"y":712,"width":30,"height":8}},{"id":"f56b6530-59cf-4a1b-978a-4e78f99df4cb","block_type":"box","text":"Closing net asset","page_number":45,"box":{"x":57,"y":739,"width":100,"height":8}},{"id":"4332dc81-17e3-4bc1-bf10-6177bf2197ee","block_type":"box","text":"value per share","page_number":45,"box":{"x":57,"y":749,"width":88,"height":8}},{"id":"a6424b0a-938e-4b8e-9800-d510bc204b38","block_type":"box","text":"195.13","page_number":45,"box":{"x":225,"y":740,"width":34,"height":6}},{"id":"22633695-666e-4d09-b558-b462fda80091","block_type":"box","text":"178.76","page_number":45,"box":{"x":296,"y":740,"width":34,"height":6}},{"id":"820bf58d-c62e-42e9-94f9-f2b316c7dfba","block_type":"box","text":"162.98","page_number":45,"box":{"x":366,"y":740,"width":35,"height":6}},{"id":"dec9d229-2613-4c3a-9a00-ccb2059a0441","block_type":"box","text":"147.95","page_number":45,"box":{"x":439,"y":740,"width":34,"height":6}},{"id":"edc6afdb-e14a-4fd9-89d9-535633ffad09","block_type":"box","text":"* after direct transaction","page_number":45,"box":{"x":57,"y":767,"width":127,"height":6}},{"id":"d85fe351-6d00-4898-8c1c-345a4d5f133b","block_type":"box","text":"costs of:","page_number":45,"box":{"x":57,"y":777,"width":44,"height":6}},{"id":"683ada01-8f82-4008-a8a9-7511bd4a8a38","block_type":"box","text":"0.02","page_number":45,"box":{"x":236,"y":767,"width":22,"height":6}},{"id":"b2e044ad-5dbd-4c10-816f-a90a14a80346","block_type":"box","text":"0.03","page_number":45,"box":{"x":308,"y":767,"width":22,"height":6}},{"id":"edd5bcd8-1d44-4d81-bbe8-1fa3de328e69","block_type":"box","text":"0.06","page_number":45,"box":{"x":379,"y":767,"width":22,"height":6}},{"id":"d8e27f8c-512d-48f8-8ab4-ece4d46f3349","block_type":"box","text":"0.05","page_number":45,"box":{"x":450,"y":767,"width":23,"height":6}},{"id":"fad56777-d246-4690-bb50-6e29d92b54bd","block_type":"box","text":"Performance","page_number":45,"box":{"x":58,"y":792,"width":73,"height":6}},{"id":"0e037d13-9535-4418-8ab1-83cefdc82099","block_type":"box","text":"Return after charges","page_number":45,"box":{"x":58,"y":801,"width":108,"height":8}},{"id":"04e4a7c3-e7f6-4ad5-b80d-35376122b54e","block_type":"box","text":"9.68%","page_number":45,"box":{"x":225,"y":801,"width":33,"height":7}},{"id":"da901a65-ca04-49e1-92a8-699a0ab1ae39","block_type":"box","text":"11.28%","page_number":45,"box":{"x":292,"y":801,"width":38,"height":7}},{"id":"2a4597c3-7efd-468b-bfc9-a1466c3e7f4a","block_type":"box","text":"12.31%","page_number":45,"box":{"x":364,"y":801,"width":37,"height":7}},{"id":"947307ad-f7f0-498b-8ad9-45fbdb9c6b52","block_type":"box","text":"9.56%","page_number":45,"box":{"x":440,"y":801,"width":33,"height":7}},{"id":"abadd187-1339-4d05-8474-483fa656bb5f","block_type":"box","text":"Other information","page_number":45,"box":{"x":57,"y":819,"width":102,"height":7}},{"id":"2873f2a5-dc33-4b47-bf2d-ff3e6c8f3bd9","block_type":"box","text":"Closing net asset value","page_number":45,"box":{"x":57,"y":829,"width":123,"height":8}},{"id":"7c83b5cc-2e7a-4599-99df-ace35f4c9afb","block_type":"box","text":"(£’000)","page_number":45,"box":{"x":57,"y":838,"width":37,"height":8}},{"id":"2176bb3d-4ccb-48c3-be84-50482ab187a4","block_type":"box","text":"10,526","page_number":45,"box":{"x":224,"y":829,"width":34,"height":7}},{"id":"2468b41c-976d-4432-91bb-9ea19af9d04e","block_type":"box","text":"8,949","page_number":45,"box":{"x":300,"y":829,"width":30,"height":7}},{"id":"c0f100ad-00db-4efd-9052-672214ed1a01","block_type":"box","text":"5,138","page_number":45,"box":{"x":374,"y":829,"width":27,"height":7}},{"id":"a0451057-7a28-411e-8c2e-2cc8f25be776","block_type":"box","text":"2,725","page_number":45,"box":{"x":444,"y":829,"width":29,"height":7}},{"id":"a1b6b985-ff10-4c2d-8d7e-87899058e930","block_type":"box","text":"Closing number of","page_number":45,"box":{"x":57,"y":848,"width":98,"height":8}},{"id":"1aed3120-6c8b-4f56-a917-c970348de39f","block_type":"box","text":"shares","page_number":45,"box":{"x":57,"y":857,"width":35,"height":6}},{"id":"5f5bb3d1-222f-4ccd-8989-f86fc2140e7a","block_type":"box","text":"5,394,432","page_number":45,"box":{"x":209,"y":848,"width":49,"height":7}},{"id":"d0aa69b8-587e-44ea-9502-85d0f4f279b6","block_type":"box","text":"5,006,181","page_number":45,"box":{"x":282,"y":848,"width":46,"height":7}},{"id":"ee0e7eb7-46df-4367-8f72-d2ef905c473b","block_type":"box","text":"3,152,422","page_number":45,"box":{"x":354,"y":848,"width":47,"height":7}},{"id":"544f0337-1bf0-4210-9cab-16b8cdc52a9c","block_type":"box","text":"1,841,873","page_number":45,"box":{"x":426,"y":848,"width":47,"height":7}},{"id":"d08ea892-4d6c-4bf3-ad1c-0f0f9fc16d99","block_type":"box","text":"Operating charges","page_number":45,"box":{"x":57,"y":867,"width":99,"height":8}},{"id":"0a371bf2-4dcc-47f5-9f4d-c3930c3412c9","block_type":"box","text":"0.60%","page_number":45,"box":{"x":225,"y":867,"width":33,"height":6}},{"id":"39fd56fb-e7bb-45ac-9f6e-856ffb62e5a3","block_type":"box","text":"0.60%","page_number":45,"box":{"x":297,"y":867,"width":33,"height":6}},{"id":"aca6dae2-2781-4a1e-8c10-7cfb714c025c","block_type":"box","text":"0.60%","page_number":45,"box":{"x":368,"y":867,"width":33,"height":6}},{"id":"c03f1a44-f5c6-4b6f-b5aa-2eded09f4ec2","block_type":"box","text":"0.60%","page_number":45,"box":{"x":440,"y":867,"width":33,"height":6}},{"id":"97452131-208e-4388-a1d1-caa3ba007149","block_type":"box","text":"Direct transaction costs","page_number":45,"box":{"x":58,"y":877,"width":125,"height":6}},{"id":"4016829f-81de-424c-a00a-3bf110fea4a8","block_type":"box","text":"0.01%","page_number":45,"box":{"x":227,"y":877,"width":31,"height":6}},{"id":"6dc92d76-26c6-4b6d-b2cd-e790e7c40c8a","block_type":"box","text":"0.02%","page_number":45,"box":{"x":297,"y":877,"width":33,"height":6}},{"id":"46b2c871-0158-4210-aeef-e8e8d53ad83e","block_type":"box","text":"0.04%","page_number":45,"box":{"x":369,"y":877,"width":32,"height":6}},{"id":"19b50a9b-0aae-4027-8350-5e87510e133a","block_type":"box","text":"0.03%","page_number":45,"box":{"x":440,"y":877,"width":33,"height":6}},{"id":"62cbef66-9458-458d-9898-0010c9575981","block_type":"box","text":"Prices","page_number":45,"box":{"x":58,"y":895,"width":35,"height":6}},{"id":"e0fd0a35-f80e-43b7-9cad-4d904122d165","block_type":"box","text":"^","page_number":45,"box":{"x":94,"y":895,"width":3,"height":2}},{"id":"8d46bf4a-c469-4aaa-847d-ac81e88d5747","block_type":"box","text":"Highest share price","page_number":45,"box":{"x":58,"y":904,"width":102,"height":8}},{"id":"b17216b2-d141-4b43-861c-63fddd7da73d","block_type":"box","text":"197.90","page_number":45,"box":{"x":225,"y":904,"width":33,"height":6}},{"id":"cb1643ad-ff65-4b70-be2a-f823baa652b8","block_type":"box","text":"182.00","page_number":45,"box":{"x":295,"y":904,"width":35,"height":6}},{"id":"6065b487-322e-4a07-875e-f80c9c13a675","block_type":"box","text":"168.00","page_number":45,"box":{"x":366,"y":904,"width":35,"height":6}},{"id":"b7957c37-83ba-4ac1-946c-a925e439090e","block_type":"box","text":"150.60","page_number":45,"box":{"x":438,"y":904,"width":35,"height":6}},{"id":"a84fd7fb-d8d2-4f33-ab93-1c6a0b6371b0","block_type":"box","text":"Lowest share price","page_number":45,"box":{"x":58,"y":914,"width":99,"height":8}},{"id":"71dae1fb-e43c-4c67-bb21-a0c9f999d7a7","block_type":"box","text":"178.70","page_number":45,"box":{"x":225,"y":914,"width":33,"height":6}},{"id":"52daefdf-8664-42cb-a849-d54e78fc76af","block_type":"box","text":"149.30","page_number":45,"box":{"x":295,"y":914,"width":35,"height":6}},{"id":"b151e98b-686f-46dc-aa60-ce802efd33b8","block_type":"box","text":"143.40","page_number":45,"box":{"x":366,"y":914,"width":35,"height":6}},{"id":"679a8127-8813-4daf-8956-b0b1b54d8e8b","block_type":"box","text":"137.00","page_number":45,"box":{"x":439,"y":914,"width":34,"height":6}},{"id":"7409ca77-9ed4-46f0-9772-2697f65882cc","block_type":"box","text":"Class P Accumulation","page_number":45,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"cb1311f8-e237-4f41-ad4b-81b43390aac8","block_type":"box","text":"Change in net assets","page_number":45,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"1d83e327-3d17-4ac5-94b0-158ff65c7e57","block_type":"box","text":"30/06/26","page_number":45,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"1b190bf7-bf0d-4c15-8ca0-b6fb7b35bc83","block_type":"box","text":"31/12/25","page_number":45,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"94b82473-f920-4380-a4fd-18fd20e5fdd9","block_type":"box","text":"31/12/24","page_number":45,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"ccd25af4-86f4-4825-ad78-9d698f5871a3","block_type":"box","text":"31/12/23","page_number":45,"box":{"x":892,"y":177,"width":45,"height":6}},{"id":"55e95708-6f97-473c-83bc-ae5ee823abb8","block_type":"box","text":"per share","page_number":45,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"82b7704e-79c0-4a1f-a646-67a7141d29de","block_type":"box","text":"(p)","page_number":45,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"fc63df93-a002-4c1c-b9d9-be09145dbe3b","block_type":"box","text":"(p)","page_number":45,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"69254d92-9b20-41e6-890b-e0050bdc1e0e","block_type":"box","text":"(p)","page_number":45,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"be446a64-fbfe-4e52-bc17-2f09a54a3292","block_type":"box","text":"(p)","page_number":45,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"993c193d-fe67-4c40-a1a1-a1ed100d16b5","block_type":"box","text":"Opening net asset","page_number":45,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"9018ceb8-5aa7-43ff-be3c-5e587754a044","block_type":"box","text":"value per share","page_number":45,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"a90445a6-470a-4b71-8cf8-23f1a31f5e45","block_type":"box","text":"159.34","page_number":45,"box":{"x":688,"y":205,"width":35,"height":6}},{"id":"db4a9a4e-e026-4b99-9776-e5416a018856","block_type":"box","text":"143.05","page_number":45,"box":{"x":759,"y":205,"width":35,"height":6}},{"id":"cc0ec532-db51-4e50-ba3e-ead2323a9fe6","block_type":"box","text":"127.30","page_number":45,"box":{"x":832,"y":205,"width":34,"height":6}},{"id":"80de24ba-2d48-4309-8f12-7e45a1ea4b00","block_type":"box","text":"116.13","page_number":45,"box":{"x":905,"y":205,"width":32,"height":6}},{"id":"bee8e5a6-56da-469b-aa5c-6b19e774781a","block_type":"box","text":"Return before operating","page_number":45,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"e5bc6829-f7cb-47a4-b9f6-799397f94819","block_type":"box","text":"charges*","page_number":45,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"2519788c-8bf0-4504-9fa5-c4acebcea48b","block_type":"box","text":"15.91","page_number":45,"box":{"x":695,"y":232,"width":26,"height":6}},{"id":"1b742155-5977-4239-812d-54de0e217a26","block_type":"box","text":"17.11","page_number":45,"box":{"x":770,"y":232,"width":23,"height":6}},{"id":"1ad8834a-7a8a-4d46-8fb2-03ce5e025031","block_type":"box","text":"16.47","page_number":45,"box":{"x":838,"y":232,"width":28,"height":6}},{"id":"7c49ebb4-fe53-4d91-889e-0cb9a33e5378","block_type":"box","text":"11.84","page_number":45,"box":{"x":910,"y":232,"width":27,"height":6}},{"id":"87e1c0b1-675d-4b68-9192-c96272cffed6","block_type":"box","text":"Operating charges","page_number":45,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"282f5523-70e4-4eab-b6f1-d8af394ca0fd","block_type":"box","text":"(0.46)","page_number":45,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"db9a9157-c357-49cf-aa5c-60e9d27656a4","block_type":"box","text":"(0.82)","page_number":45,"box":{"x":768,"y":259,"width":30,"height":8}},{"id":"f7385a18-296c-4ebd-b825-41abffcba76a","block_type":"box","text":"(0.72)","page_number":45,"box":{"x":840,"y":259,"width":30,"height":8}},{"id":"cfabdc88-7854-4104-a89d-212e302e594a","block_type":"box","text":"(0.67)","page_number":45,"box":{"x":911,"y":259,"width":30,"height":8}},{"id":"2774915e-b01f-4eaa-b311-0f53fce06bfe","block_type":"box","text":"Return after operating","page_number":45,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"ec3b1b88-beea-4c47-a6e8-444b131432e6","block_type":"box","text":"charges*","page_number":45,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"0106c913-3998-483f-b911-680ca0582c33","block_type":"box","text":"15.45","page_number":45,"box":{"x":695,"y":276,"width":28,"height":6}},{"id":"dfcd73f4-2262-4cb3-ba40-572935b26e5b","block_type":"box","text":"16.29","page_number":45,"box":{"x":766,"y":276,"width":28,"height":6}},{"id":"b8a19b2f-5921-4e3c-be80-44144e39b796","block_type":"box","text":"15.75","page_number":45,"box":{"x":838,"y":276,"width":28,"height":6}},{"id":"b4fb086a-1ff5-4d6d-ab61-b20d6647c87b","block_type":"box","text":"11.17","page_number":45,"box":{"x":912,"y":276,"width":25,"height":6}},{"id":"23486eec-29c5-4679-be2c-5e5c7894ecc6","block_type":"box","text":"Distributions on","page_number":45,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"cea6e34c-12e2-471f-b4b9-1ae790de2203","block_type":"box","text":"accumulation shares","page_number":45,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"f2ea4a03-48df-4bca-8f31-104b92140331","block_type":"box","text":"(0.86)","page_number":45,"box":{"x":697,"y":303,"width":30,"height":8}},{"id":"20429380-85b0-4e5f-bcda-b9d32bd800c8","block_type":"box","text":"(2.35)","page_number":45,"box":{"x":768,"y":303,"width":30,"height":8}},{"id":"deac3551-c469-430d-afe0-1dd2f02c001e","block_type":"box","text":"–","page_number":45,"box":{"x":860,"y":307,"width":6,"height":1}},{"id":"4bf77909-fcc1-4e58-b7d9-4b61a926f75f","block_type":"box","text":"(2.57)","page_number":45,"box":{"x":911,"y":303,"width":30,"height":8}},{"id":"fc45e43a-bcd5-4a3e-81d0-27dc2bdea43e","block_type":"box","text":"Retained distributions","page_number":45,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"4e676b3b-8921-4f80-ae59-3d6c12e772dd","block_type":"box","text":"on accumulation shares","page_number":45,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"2c16bdfd-5df9-425f-8c25-aa3fe940044e","block_type":"box","text":"0.86","page_number":45,"box":{"x":700,"y":330,"width":23,"height":6}},{"id":"8e62ca64-1225-44c3-a66a-29b44a306ad7","block_type":"box","text":"2.35","page_number":45,"box":{"x":771,"y":330,"width":23,"height":6}},{"id":"b290be4f-4045-4fa1-96a1-6e55f1f4d1cb","block_type":"box","text":"–","page_number":45,"box":{"x":860,"y":334,"width":6,"height":1}},{"id":"aff1d7bc-9d4f-4e81-ab9d-b15f554b58e5","block_type":"box","text":"2.57","page_number":45,"box":{"x":914,"y":330,"width":23,"height":6}},{"id":"25e58572-3c01-4945-914e-7146969843cb","block_type":"box","text":"Closing net asset","page_number":45,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"7490aa39-9f22-42ca-a0e2-28901670171c","block_type":"box","text":"value per share","page_number":45,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"00b60673-7aa1-4dd1-972b-4e7b4d281f11","block_type":"box","text":"174.79","page_number":45,"box":{"x":689,"y":357,"width":34,"height":6}},{"id":"b232ecdd-32ef-4ba0-b43e-72e6ff3a987c","block_type":"box","text":"159.34","page_number":45,"box":{"x":759,"y":357,"width":35,"height":6}},{"id":"c8f8ffb6-6eef-423b-83f4-addbd403a34d","block_type":"box","text":"143.05","page_number":45,"box":{"x":830,"y":357,"width":36,"height":6}},{"id":"7a093d71-0206-4b20-8e87-e9a6fdd1b7c3","block_type":"box","text":"127.30","page_number":45,"box":{"x":903,"y":357,"width":34,"height":6}},{"id":"a61a5063-7afb-452d-b5a8-9c09ee2de420","block_type":"box","text":"* after direct transaction","page_number":45,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"2ed302ea-de65-4e02-ac80-d1cd039a904d","block_type":"box","text":"costs of:","page_number":45,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"6a42bb53-91af-4ec1-811e-803a63efb378","block_type":"box","text":"0.02","page_number":45,"box":{"x":700,"y":385,"width":23,"height":6}},{"id":"4c308ddd-0460-4508-9a66-f2826bf6976e","block_type":"box","text":"0.03","page_number":45,"box":{"x":772,"y":385,"width":22,"height":6}},{"id":"c9f135c4-140d-411f-90bd-ca304a4f7d08","block_type":"box","text":"0.05","page_number":45,"box":{"x":843,"y":385,"width":23,"height":6}},{"id":"922e07a5-e20f-418f-93a9-46180195820e","block_type":"box","text":"0.04","page_number":45,"box":{"x":915,"y":385,"width":22,"height":6}},{"id":"7fa4bc23-146d-457d-9d1e-1443542b437b","block_type":"box","text":"Performance","page_number":45,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"b37d3dec-82aa-453d-8cd7-b6985d7fe0d3","block_type":"box","text":"Return after charges","page_number":45,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"c7e5ed76-7a02-41fc-90a6-ad32988ddd39","block_type":"box","text":"9.70%","page_number":45,"box":{"x":690,"y":419,"width":33,"height":7}},{"id":"ce581f6e-952f-45b9-945b-2d8047ab9a3f","block_type":"box","text":"11.39%","page_number":45,"box":{"x":756,"y":419,"width":38,"height":7}},{"id":"ad6501b1-0fc4-4c25-8fd7-1d41385f1c4a","block_type":"box","text":"12.37%","page_number":45,"box":{"x":827,"y":419,"width":38,"height":7}},{"id":"c978703c-1de8-41d7-8a35-f3d19396fd58","block_type":"box","text":"9.62%","page_number":45,"box":{"x":904,"y":419,"width":33,"height":7}},{"id":"6d550841-aab9-49e4-bee7-e878b8364ecc","block_type":"box","text":"Other information","page_number":45,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"8ac574a9-1ee0-4040-bdbc-6850795101d8","block_type":"box","text":"Closing net asset value","page_number":45,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"2d48bcda-3968-4be7-b41e-461bf473ff94","block_type":"box","text":"(£’000)","page_number":45,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"7ae6becd-161a-4224-8792-645f5fa9afbe","block_type":"box","text":"5","page_number":45,"box":{"x":717,"y":447,"width":6,"height":6}},{"id":"e2fb44f2-bace-4dcd-a10d-a0a13d912137","block_type":"box","text":"6","page_number":45,"box":{"x":789,"y":447,"width":5,"height":6}},{"id":"1c911219-b2fa-4d2e-8b4d-07137d0a10cf","block_type":"box","text":"11","page_number":45,"box":{"x":855,"y":447,"width":9,"height":6}},{"id":"864a3919-39cc-47f2-9563-c25aa8b99022","block_type":"box","text":"2,249","page_number":45,"box":{"x":908,"y":447,"width":29,"height":7}},{"id":"db98d42c-f6ea-46fa-9ddc-59fcde493a54","block_type":"box","text":"Closing number of","page_number":45,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"16cd5bd4-f694-4313-b188-cea97c0d2b54","block_type":"box","text":"shares","page_number":45,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"13e9b2a6-7490-4b05-98fe-fe0a5d3c3064","block_type":"box","text":"2,915","page_number":45,"box":{"x":696,"y":466,"width":27,"height":7}},{"id":"205137cd-4810-4d1a-a1a2-fe66785dad46","block_type":"box","text":"4,086","page_number":45,"box":{"x":766,"y":466,"width":28,"height":7}},{"id":"8ad635cc-d5f9-435c-bbeb-f7121a50c9db","block_type":"box","text":"7,692","page_number":45,"box":{"x":839,"y":466,"width":27,"height":7}},{"id":"b5d27f8d-3073-44d2-82d3-c2e52d1bf76f","block_type":"box","text":"1,766,554","page_number":45,"box":{"x":889,"y":466,"width":48,"height":7}},{"id":"56b81a3c-bace-4550-935d-73b6dfa20c8e","block_type":"box","text":"Operating charges","page_number":45,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"ec406827-99b0-40f6-aa6d-5d6e9264545a","block_type":"box","text":"0.55%","page_number":45,"box":{"x":690,"y":485,"width":33,"height":6}},{"id":"0e19ea61-48bb-4219-8b0d-4281dc34b2d9","block_type":"box","text":"0.55%","page_number":45,"box":{"x":761,"y":485,"width":33,"height":6}},{"id":"6ad31c57-285b-417e-a548-a693ebb2920d","block_type":"box","text":"0.55%","page_number":45,"box":{"x":833,"y":485,"width":32,"height":6}},{"id":"ea5da4c2-7e4b-46d9-a0bd-8137610fe7a5","block_type":"box","text":"0.55%","page_number":45,"box":{"x":904,"y":485,"width":33,"height":6}},{"id":"b84dc1e4-04a0-4b97-8db5-d9f2f907148a","block_type":"box","text":"Direct transaction costs","page_number":45,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"6dd1fe42-83ed-4492-8752-81f30d060746","block_type":"box","text":"0.01%","page_number":45,"box":{"x":691,"y":495,"width":32,"height":6}},{"id":"9a7567aa-2edd-4b0a-8f41-cd5ae7f2bd8f","block_type":"box","text":"0.02%","page_number":45,"box":{"x":761,"y":495,"width":33,"height":6}},{"id":"6ef5a322-1cb8-40b0-9b60-983d4abc8047","block_type":"box","text":"0.04%","page_number":45,"box":{"x":833,"y":495,"width":32,"height":6}},{"id":"65d77ac5-b458-4e07-bad9-9783d35ee680","block_type":"box","text":"0.03%","page_number":45,"box":{"x":904,"y":495,"width":33,"height":6}},{"id":"e362a4ed-c8f6-4b01-acb4-0db29a9af662","block_type":"box","text":"Prices","page_number":45,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"01679e55-3523-429e-aabc-72e8c4bc414d","block_type":"box","text":"^","page_number":45,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"e3126e0f-3984-4742-a858-19b9251def47","block_type":"box","text":"Highest share price","page_number":45,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"6bad4b2e-83ab-4dda-b244-c9ef663b5585","block_type":"box","text":"176.40","page_number":45,"box":{"x":688,"y":522,"width":35,"height":6}},{"id":"a5291eca-dc4f-4580-a066-d0b125620c83","block_type":"box","text":"160.70","page_number":45,"box":{"x":760,"y":522,"width":34,"height":6}},{"id":"efbfb8a1-6867-4720-ad5b-709fef83d7f0","block_type":"box","text":"145.50","page_number":45,"box":{"x":831,"y":522,"width":35,"height":6}},{"id":"460145c1-a6b7-4492-9820-47a02901f618","block_type":"box","text":"127.90","page_number":45,"box":{"x":903,"y":522,"width":34,"height":6}},{"id":"c02157ac-a301-442e-99b1-0535ad1db77d","block_type":"box","text":"Lowest share price","page_number":45,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"92f43e9d-eb08-4520-97f3-2eef62d45495","block_type":"box","text":"159.30","page_number":45,"box":{"x":688,"y":532,"width":35,"height":6}},{"id":"2adea21e-59be-4d5b-a45d-7a9ec9362a79","block_type":"box","text":"131.10","page_number":45,"box":{"x":762,"y":532,"width":32,"height":6}},{"id":"b86583b1-9b7a-453e-a4cc-a9a396faf76d","block_type":"box","text":"120.80","page_number":45,"box":{"x":831,"y":532,"width":35,"height":6}},{"id":"9db6d4b8-2c36-4b17-b4a4-3b9616b221ee","block_type":"box","text":"115.50","page_number":45,"box":{"x":903,"y":532,"width":34,"height":6}},{"id":"5f6980ae-6818-47ba-87ca-2d319c017fcd","block_type":"box","text":"Comparative Tables","page_number":45,"box":{"x":58,"y":94,"width":236,"height":14}},{"id":"44bad873-65d9-44a5-ab11-ffcb296bd294","block_type":"box","text":"Royal London GMAP Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":45,"box":{"x":486,"y":33,"width":427,"height":8}},{"id":"d96617f7-b55d-4d8e-83d9-4cbacde8fbf3","block_type":"box","text":"45","page_number":45,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"db22e92e-992b-479e-affe-7cee8badcc81","block_type":"box","text":"Comparative Tables","page_number":46,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"a1b86de8-7c89-4f91-bc18-90290b14599b","block_type":"box","text":"(continued)","page_number":46,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"d2fdac65-3781-41cd-ba28-85b491863300","block_type":"box","text":"Class R Accumulation","page_number":46,"box":{"x":57,"y":151,"width":203,"height":9}},{"id":"189fdd92-af5e-4c6a-a5cd-7739344a28f6","block_type":"box","text":"Change in net assets","page_number":46,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"38c35d9e-53d7-4c25-aaa1-b6e04ac811c9","block_type":"box","text":"30/06/26","page_number":46,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"cfa9b961-5d9d-4bd6-a941-6038ca5b004d","block_type":"box","text":"31/12/25","page_number":46,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"3372406d-e73f-45f5-a363-89f4f7e80aef","block_type":"box","text":"31/12/24","page_number":46,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"3991a18a-79ee-496d-a3da-d963841cf300","block_type":"box","text":"31/12/23","page_number":46,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"93917f05-c8b9-45ba-ad26-085ba5169a58","block_type":"box","text":"per share","page_number":46,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"3483a02e-6f30-4287-8269-0d6ec6b89395","block_type":"box","text":"(p)","page_number":46,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"0910d671-ff51-4123-82c2-623d973dece0","block_type":"box","text":"(p)","page_number":46,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"e70b8fa3-6881-4641-b959-f23b508e925a","block_type":"box","text":"(p)","page_number":46,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"eae5df0f-1951-46fb-9eaf-b8f27f04ce9a","block_type":"box","text":"(p)","page_number":46,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"6c358323-e064-490a-92c8-812fcd9cc03f","block_type":"box","text":"Opening net asset","page_number":46,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"fc1d7134-5001-4b99-be54-f5141d7ad8c9","block_type":"box","text":"value per share","page_number":46,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"fa33c595-d5ff-4680-b7ed-9b8e635a5a0d","block_type":"box","text":"174.88","page_number":46,"box":{"x":225,"y":205,"width":34,"height":6}},{"id":"4a056ca8-6bfe-47ac-b4ae-37e406c6b769","block_type":"box","text":"156.48","page_number":46,"box":{"x":295,"y":205,"width":35,"height":6}},{"id":"b6b43ebe-218f-4197-84fd-da950f4ffcd8","block_type":"box","text":"138.80","page_number":46,"box":{"x":366,"y":205,"width":35,"height":6}},{"id":"33e2fd37-de93-4cd2-8d9e-fb8f2785797a","block_type":"box","text":"126.22","page_number":46,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"003cc41b-c2ac-4f26-9e72-afa106871ebc","block_type":"box","text":"Return before operating","page_number":46,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"287e7b7f-7244-41a5-822a-4f4e9e7a7bd5","block_type":"box","text":"charges*","page_number":46,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"5322c664-bafb-423f-8186-96122ed5a984","block_type":"box","text":"17.39","page_number":46,"box":{"x":232,"y":232,"width":26,"height":6}},{"id":"04a33a8e-9801-44a2-8924-eed077bf55ce","block_type":"box","text":"18.60","page_number":46,"box":{"x":302,"y":232,"width":28,"height":6}},{"id":"68bbd0ef-fdc2-4f9a-b9b4-13fee4d7fde4","block_type":"box","text":"17.89","page_number":46,"box":{"x":375,"y":232,"width":26,"height":6}},{"id":"60bc9c12-3bb7-441a-bf27-8a5c6f5835ed","block_type":"box","text":"12.78","page_number":46,"box":{"x":445,"y":232,"width":28,"height":6}},{"id":"2a64e44b-184e-49ab-9061-a0b36ea658f2","block_type":"box","text":"Operating charges","page_number":46,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"f07ff5cf-85f6-4bc9-8968-9bb7bd787d36","block_type":"box","text":"(0.11)","page_number":46,"box":{"x":235,"y":259,"width":28,"height":8}},{"id":"62531021-669b-48de-9e70-45328d9d9771","block_type":"box","text":"(0.20)","page_number":46,"box":{"x":304,"y":259,"width":30,"height":8}},{"id":"5eef0573-8cf6-4647-9183-94f80c77ea39","block_type":"box","text":"(0.21)","page_number":46,"box":{"x":376,"y":259,"width":29,"height":8}},{"id":"1541a324-986a-4f45-baae-57e33baf144c","block_type":"box","text":"(0.20)","page_number":46,"box":{"x":447,"y":259,"width":30,"height":8}},{"id":"2e261217-a9ff-4d05-986e-f82b58f1d00d","block_type":"box","text":"Return after operating","page_number":46,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"f6113070-5125-4d08-af2e-41a82f4ee45f","block_type":"box","text":"charges*","page_number":46,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"47fded66-7175-40b1-be0b-a9a332f1e6a6","block_type":"box","text":"17.28","page_number":46,"box":{"x":232,"y":276,"width":26,"height":6}},{"id":"cb2591fa-5a88-44b2-8e08-ef505ba32f65","block_type":"box","text":"18.40","page_number":46,"box":{"x":302,"y":276,"width":28,"height":6}},{"id":"0d993f07-22f8-40d1-b275-9bef0090d6e6","block_type":"box","text":"17.68","page_number":46,"box":{"x":375,"y":276,"width":26,"height":6}},{"id":"c272b040-acf5-461b-9547-f34e1929f654","block_type":"box","text":"12.58","page_number":46,"box":{"x":445,"y":276,"width":28,"height":6}},{"id":"8026d540-97cf-4def-b831-82dea2de9cf4","block_type":"box","text":"Distributions on","page_number":46,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"627cdafc-59f0-4f6b-b166-d05ba1c48d2a","block_type":"box","text":"accumulation shares","page_number":46,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"a0a951b8-533e-4c69-ae5c-9cd2310e427c","block_type":"box","text":"(1.26)","page_number":46,"box":{"x":233,"y":303,"width":30,"height":8}},{"id":"4b11f0ca-daa5-4340-9daf-7a1442f4d613","block_type":"box","text":"(3.14)","page_number":46,"box":{"x":306,"y":303,"width":28,"height":8}},{"id":"2dc5bc91-7520-4532-a00c-7dfb3f093d43","block_type":"box","text":"(3.55)","page_number":46,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"db61cea0-8dd8-4d92-a0bf-302da039b299","block_type":"box","text":"(3.22)","page_number":46,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"d6c53fc5-2ac4-4e86-8d8a-76692754c45c","block_type":"box","text":"Retained distributions","page_number":46,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"ff109cc2-bac4-4c25-a1e8-1ca6e55640f5","block_type":"box","text":"on accumulation shares","page_number":46,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"7f2004cb-9d99-4e36-981d-aab8bb2bccce","block_type":"box","text":"1.26","page_number":46,"box":{"x":237,"y":330,"width":21,"height":6}},{"id":"d5855240-a789-4ba9-8a0f-91331996f41f","block_type":"box","text":"3.14","page_number":46,"box":{"x":309,"y":330,"width":21,"height":6}},{"id":"bd6830a2-9fdb-45de-b62e-6bf74f659309","block_type":"box","text":"3.55","page_number":46,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"b125ab19-cfde-403e-bf3e-cbd659d60e59","block_type":"box","text":"3.22","page_number":46,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"cb50b7e1-3349-424c-a7ee-041c55f5aa5b","block_type":"box","text":"Closing net asset","page_number":46,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"9448e4d6-9e65-46a1-9d53-ddb15f0522bc","block_type":"box","text":"value per share","page_number":46,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"d6b64d31-c8e5-4ea3-8804-a7d3fa144ea7","block_type":"box","text":"192.16","page_number":46,"box":{"x":224,"y":357,"width":35,"height":6}},{"id":"0f4eba13-d975-48b9-aea9-17dbdfa672ee","block_type":"box","text":"174.88","page_number":46,"box":{"x":295,"y":357,"width":35,"height":6}},{"id":"b1b529a1-28d4-44fa-9f2a-eca3b666d0c1","block_type":"box","text":"156.48","page_number":46,"box":{"x":366,"y":357,"width":35,"height":6}},{"id":"0de14a66-7af6-406f-945c-62eae99b86c9","block_type":"box","text":"138.80","page_number":46,"box":{"x":437,"y":357,"width":36,"height":6}},{"id":"6ed55a6f-799f-434f-9529-030fbec20573","block_type":"box","text":"* after direct transaction","page_number":46,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"17f63b90-acd4-40e2-a914-f074b7966339","block_type":"box","text":"costs of:","page_number":46,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"12b0b543-e4a7-491c-8fa7-7f6e0b33d4c8","block_type":"box","text":"0.02","page_number":46,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"bcdd4b7e-654c-478f-aff2-b5980798b78d","block_type":"box","text":"0.03","page_number":46,"box":{"x":308,"y":385,"width":22,"height":6}},{"id":"8ab19c54-153a-490e-852a-7145c879b8c1","block_type":"box","text":"0.06","page_number":46,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"46fd9ecb-52ac-4841-9c83-ff7d573fc67e","block_type":"box","text":"0.05","page_number":46,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"c9b58aaf-72d5-4cf2-91ad-a05ae8fb4c0c","block_type":"box","text":"Performance","page_number":46,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"dc72641e-de10-40d9-a558-14aedfb30b9c","block_type":"box","text":"Return after charges","page_number":46,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"5bab8548-483e-4fd1-a191-7fe8a2e05552","block_type":"box","text":"9.88%","page_number":46,"box":{"x":225,"y":419,"width":33,"height":7}},{"id":"2f462318-5e14-4d3f-a4a3-d931a1bccc96","block_type":"box","text":"11.76%","page_number":46,"box":{"x":293,"y":419,"width":37,"height":7}},{"id":"046949a3-976d-414d-8766-ad5b0cfc4907","block_type":"box","text":"12.74%","page_number":46,"box":{"x":364,"y":419,"width":37,"height":7}},{"id":"c3a4548c-9fc0-444c-9ee5-2d4bfef99cb7","block_type":"box","text":"9.97%","page_number":46,"box":{"x":440,"y":419,"width":33,"height":7}},{"id":"df81669d-939c-4a44-8b09-b7c48421b9b5","block_type":"box","text":"Other information","page_number":46,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"f8220bb4-6314-4c0e-b691-bfb53b5e2e09","block_type":"box","text":"Closing net asset value","page_number":46,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"37ae11dd-9070-43d7-9b0a-2b06263e7b81","block_type":"box","text":"(£’000)","page_number":46,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"c362f918-47da-482b-a494-09d6817f6d04","block_type":"box","text":"460,888","page_number":46,"box":{"x":215,"y":447,"width":44,"height":7}},{"id":"4e5b0396-0738-408e-b9cd-9ebbd397e5ed","block_type":"box","text":"440,163","page_number":46,"box":{"x":288,"y":447,"width":42,"height":7}},{"id":"4fec25fa-fbe5-407e-a302-0843d52b43f6","block_type":"box","text":"283,515","page_number":46,"box":{"x":360,"y":447,"width":41,"height":7}},{"id":"e468f000-6686-4045-96ea-134a9f4c7245","block_type":"box","text":"283,032","page_number":46,"box":{"x":430,"y":447,"width":43,"height":7}},{"id":"90430980-737c-4c96-8c41-cff6fe8a399a","block_type":"box","text":"Closing number of","page_number":46,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"8723e5e9-9c88-4aab-ae4f-9939108e55ca","block_type":"box","text":"shares","page_number":46,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"ec7f23ba-b8e8-461a-b761-67411a966719","block_type":"box","text":"239,850,738","page_number":46,"box":{"x":193,"y":466,"width":66,"height":7}},{"id":"b57ffee8-8cfe-4a2f-a2b7-6905109b1d0c","block_type":"box","text":"251,690,493","page_number":46,"box":{"x":264,"y":466,"width":66,"height":7}},{"id":"06464f44-9a35-4462-b939-b94b00379c2c","block_type":"box","text":"181,179,114","page_number":46,"box":{"x":342,"y":466,"width":59,"height":7}},{"id":"9c29744f-314c-4611-832f-fe4d6a16a86e","block_type":"box","text":"203,913,809","page_number":46,"box":{"x":410,"y":466,"width":63,"height":7}},{"id":"c98dbd34-458f-4370-8bb9-32e12e974012","block_type":"box","text":"Operating charges","page_number":46,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"e00b74ff-7553-4565-80e3-1d895dd45112","block_type":"box","text":"0.12%","page_number":46,"box":{"x":227,"y":485,"width":31,"height":6}},{"id":"6f3769d4-b17f-4187-bd7f-258d7cc632b8","block_type":"box","text":"0.12%","page_number":46,"box":{"x":298,"y":485,"width":32,"height":6}},{"id":"55994baa-e646-4297-9448-b29a94a15ec6","block_type":"box","text":"0.12%","page_number":46,"box":{"x":366,"y":485,"width":31,"height":6}},{"id":"0ffca88f-c85f-4a54-840e-0c1fc453ae55","block_type":"box","text":"#","page_number":46,"box":{"x":398,"y":485,"width":4,"height":3}},{"id":"0408339c-3386-4712-82aa-f9721749f473","block_type":"box","text":"0.15%","page_number":46,"box":{"x":441,"y":485,"width":32,"height":6}},{"id":"b3d76ff2-1ac1-46d5-aa8e-abcd98683eac","block_type":"box","text":"Direct transaction costs","page_number":46,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"f402c296-0468-439b-9c25-71a871f9ae61","block_type":"box","text":"0.01%","page_number":46,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"9ebd28aa-a3cb-4636-adb9-24f52ace42bb","block_type":"box","text":"0.02%","page_number":46,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"f3d53553-ad9f-49b7-a5ad-93e8fe6d4278","block_type":"box","text":"0.04%","page_number":46,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"4c1accab-ff5a-465b-9c5d-ad162eb715c4","block_type":"box","text":"0.03%","page_number":46,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"4c322865-b78b-4826-86d4-eb3cccb25e0f","block_type":"box","text":"Prices","page_number":46,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"03fc8ccd-3775-40c7-a4a4-4c69fdce2a2b","block_type":"box","text":"^","page_number":46,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"a3002d0c-5a44-4092-a67a-09660acce8cb","block_type":"box","text":"Highest share price","page_number":46,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"279759a6-85a0-4c14-b6e0-be6a936d2a04","block_type":"box","text":"193.90","page_number":46,"box":{"x":223,"y":522,"width":35,"height":6}},{"id":"8f00e80f-bda7-4aa2-b20f-d6156ed68786","block_type":"box","text":"176.30","page_number":46,"box":{"x":295,"y":522,"width":35,"height":6}},{"id":"a322bb69-bf01-4b04-a881-90e01bc2858b","block_type":"box","text":"159.20","page_number":46,"box":{"x":366,"y":522,"width":35,"height":6}},{"id":"9cbc613c-3a42-4118-83c3-d57892c1581b","block_type":"box","text":"139.40","page_number":46,"box":{"x":438,"y":522,"width":35,"height":6}},{"id":"6b915ca5-7e9c-4181-a1d1-e6b3a1db85af","block_type":"box","text":"Lowest share price","page_number":46,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"d365e909-1e45-4cc2-a509-c3ac7f4e0d43","block_type":"box","text":"175.00","page_number":46,"box":{"x":224,"y":532,"width":34,"height":6}},{"id":"81bd27b1-cba3-4d53-b9d5-146a745c9c57","block_type":"box","text":"143.50","page_number":46,"box":{"x":295,"y":532,"width":35,"height":6}},{"id":"4c0de47f-8bc5-457c-8a7d-a24b3be20584","block_type":"box","text":"131.30","page_number":46,"box":{"x":367,"y":532,"width":34,"height":6}},{"id":"d790202d-4e47-406b-a8cc-b8ba943fe4e1","block_type":"box","text":"125.60","page_number":46,"box":{"x":438,"y":532,"width":35,"height":6}},{"id":"74dc2fa0-79a3-4bb5-8498-204b9d04c878","block_type":"box","text":"#","page_number":46,"box":{"x":57,"y":556,"width":3,"height":3}},{"id":"5907f9a9-23a6-41f9-aae4-f539da417cbb","block_type":"box","text":"The FMF changed from 0.15% to 0.12% on 23 September 2024.","page_number":46,"box":{"x":64,"y":556,"width":338,"height":7}},{"id":"fd34ccab-855b-4a95-b813-ef093ccd8ef9","block_type":"box","text":"Class S Accumulation","page_number":46,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"1a136f3e-3339-4f6b-a8d8-9bb75d41318e","block_type":"box","text":"30/06/26","page_number":46,"box":{"x":748,"y":177,"width":46,"height":6}},{"id":"29ffc13b-f87b-45f1-99c7-d2691e0929e6","block_type":"box","text":"31/12/25","page_number":46,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"3bd733e4-b3f1-44fe-a687-3ae22c826bc1","block_type":"box","text":"31/12/24**","page_number":46,"box":{"x":882,"y":177,"width":55,"height":6}},{"id":"0b853dd0-d9b7-4379-ac99-603fff448cac","block_type":"box","text":"Change in net assets per share","page_number":46,"box":{"x":521,"y":186,"width":178,"height":8}},{"id":"5b022797-39e1-4c76-87ae-e6c98e024d68","block_type":"box","text":"(p)","page_number":46,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"bcf7b943-d7c6-4cf9-aa71-e45d14b494ab","block_type":"box","text":"(p)","page_number":46,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"e12ebf10-c44a-4f31-a55e-3aec74f1ab56","block_type":"box","text":"(p)","page_number":46,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"7ae5c6c3-5dcb-46c7-a667-0b2627f801db","block_type":"box","text":"Opening net asset value per share","page_number":46,"box":{"x":521,"y":205,"width":183,"height":8}},{"id":"60ea26d8-61e3-4bfa-848e-c14766f5890b","block_type":"box","text":"114.95","page_number":46,"box":{"x":760,"y":205,"width":34,"height":6}},{"id":"28ef9f52-1d42-4d4b-bc76-fc1335c224b8","block_type":"box","text":"102.88","page_number":46,"box":{"x":831,"y":205,"width":35,"height":6}},{"id":"f7dbefce-a0e4-4f48-a839-4d979624dcdd","block_type":"box","text":"100.00","page_number":46,"box":{"x":902,"y":205,"width":35,"height":6}},{"id":"b07d7a7e-191d-4226-8041-4ec2dc08b3e2","block_type":"box","text":"Return before operating charges*","page_number":46,"box":{"x":522,"y":222,"width":177,"height":8}},{"id":"df6b0e38-6a31-4def-9f80-a4530240c994","block_type":"box","text":"11.40","page_number":46,"box":{"x":767,"y":222,"width":27,"height":6}},{"id":"58193632-cb1e-489b-88bd-7f28f2f64bc3","block_type":"box","text":"12.23","page_number":46,"box":{"x":837,"y":222,"width":29,"height":6}},{"id":"f3a7fff8-678b-4e0f-b7ec-feeadb5945c8","block_type":"box","text":"2.92","page_number":46,"box":{"x":914,"y":222,"width":23,"height":6}},{"id":"305a3071-9902-4646-8fa6-a005fe9dfc13","block_type":"box","text":"Operating charges","page_number":46,"box":{"x":521,"y":240,"width":99,"height":8}},{"id":"f33dd798-8240-4669-9390-9563092ab156","block_type":"box","text":"(0.09)","page_number":46,"box":{"x":768,"y":240,"width":30,"height":8}},{"id":"3bfc49a1-ecf9-4ecf-81ed-57e22154df39","block_type":"box","text":"(0.16)","page_number":46,"box":{"x":841,"y":240,"width":29,"height":8}},{"id":"a225d2d7-8f78-4450-a5da-58b36f4b4fac","block_type":"box","text":"(0.04)","page_number":46,"box":{"x":911,"y":240,"width":30,"height":8}},{"id":"301a9baf-e2db-4e7b-9958-40b08e70f249","block_type":"box","text":"Return after operating charges*","page_number":46,"box":{"x":522,"y":257,"width":167,"height":8}},{"id":"66da3513-b890-4b84-b1c7-06ae3fbc583d","block_type":"box","text":"11.31","page_number":46,"box":{"x":768,"y":257,"width":25,"height":6}},{"id":"f8f06978-491a-4828-b152-d0d6c779dbe6","block_type":"box","text":"12.07","page_number":46,"box":{"x":838,"y":257,"width":28,"height":6}},{"id":"89774fdc-d5f5-4e78-b6cb-0ac3f751d0b7","block_type":"box","text":"2.88","page_number":46,"box":{"x":914,"y":257,"width":23,"height":6}},{"id":"4d038872-db84-4beb-bb0a-a1951ff28c1f","block_type":"box","text":"Distributions on accumulation shares","page_number":46,"box":{"x":522,"y":275,"width":196,"height":6}},{"id":"ac27b6c3-0482-4999-9391-f23c80276fb0","block_type":"box","text":"(0.82)","page_number":46,"box":{"x":768,"y":275,"width":30,"height":8}},{"id":"b020c311-e662-4912-b017-5514cbe8e550","block_type":"box","text":"(2.04)","page_number":46,"box":{"x":840,"y":275,"width":30,"height":8}},{"id":"57f98781-d4b5-4b74-b63c-cdef8abed748","block_type":"box","text":"(0.48)","page_number":46,"box":{"x":911,"y":275,"width":30,"height":8}},{"id":"36623999-09f2-4f12-bd63-3b00d0ed787e","block_type":"box","text":"Retained distributions on","page_number":46,"box":{"x":522,"y":292,"width":131,"height":6}},{"id":"2399aba2-e5a7-4ab8-ad45-017713468359","block_type":"box","text":"accumulation shares","page_number":46,"box":{"x":521,"y":302,"width":110,"height":6}},{"id":"1255c431-698d-4338-af47-00ad2fc1b88b","block_type":"box","text":"0.82","page_number":46,"box":{"x":772,"y":292,"width":22,"height":6}},{"id":"45e517a0-1247-4237-994d-ef8f26a38133","block_type":"box","text":"2.04","page_number":46,"box":{"x":843,"y":292,"width":23,"height":6}},{"id":"343977ac-3a49-416a-9c6a-8b3897109ddb","block_type":"box","text":"0.48","page_number":46,"box":{"x":915,"y":292,"width":22,"height":6}},{"id":"66296e69-44c6-4d85-baf5-2dd36bfab84c","block_type":"box","text":"Closing net asset value per share","page_number":46,"box":{"x":521,"y":319,"width":192,"height":8}},{"id":"c7e92ece-77bc-440e-a753-79bb1be72f34","block_type":"box","text":"126.26","page_number":46,"box":{"x":759,"y":319,"width":35,"height":6}},{"id":"4fe50072-6734-4c5b-a2d1-c730f1e95ea6","block_type":"box","text":"114.95","page_number":46,"box":{"x":831,"y":319,"width":35,"height":6}},{"id":"2f39f482-5b2c-49ad-98f9-59fc33e9ac7f","block_type":"box","text":"102.88","page_number":46,"box":{"x":902,"y":319,"width":35,"height":6}},{"id":"8702b6d9-499b-4ca0-913f-1eebbe814335","block_type":"box","text":"* after direct transaction costs of:","page_number":46,"box":{"x":521,"y":337,"width":175,"height":7}},{"id":"6598b143-3eec-4c9d-88a6-c40a84664651","block_type":"box","text":"0.01","page_number":46,"box":{"x":772,"y":338,"width":21,"height":6}},{"id":"4c834322-0130-4fdb-8391-1f183a4b055e","block_type":"box","text":"0.02","page_number":46,"box":{"x":843,"y":338,"width":23,"height":6}},{"id":"1fdf9899-e49a-4ded-b339-5303d5a10511","block_type":"box","text":"0.04","page_number":46,"box":{"x":915,"y":338,"width":22,"height":6}},{"id":"2d3b8450-030e-479a-83a0-f2629eb1552a","block_type":"box","text":"Performance","page_number":46,"box":{"x":522,"y":353,"width":73,"height":6}},{"id":"99684f58-2256-40d6-9752-4c278cf7a680","block_type":"box","text":"Return after charges","page_number":46,"box":{"x":522,"y":363,"width":109,"height":7}},{"id":"a5a0f18a-09a0-4f72-8531-15b1d83360a1","block_type":"box","text":"9.84%","page_number":46,"box":{"x":761,"y":363,"width":33,"height":6}},{"id":"05dc006b-9276-4e84-b403-d3eee8e8d05b","block_type":"box","text":"11.73%","page_number":46,"box":{"x":829,"y":363,"width":36,"height":6}},{"id":"4a880c4d-d5fb-4d4c-b4bf-b60914c96378","block_type":"box","text":"2.88%","page_number":46,"box":{"x":904,"y":363,"width":33,"height":6}},{"id":"9ccc8d71-5ac1-4085-8dc1-490358d38755","block_type":"box","text":"Other information","page_number":46,"box":{"x":521,"y":381,"width":102,"height":6}},{"id":"929c9728-1e95-4529-babc-235f319237ea","block_type":"box","text":"Closing net asset value (£’000)","page_number":46,"box":{"x":522,"y":390,"width":164,"height":8}},{"id":"4f2574f4-b008-4ce1-85ba-6ee256758cba","block_type":"box","text":"115","page_number":46,"box":{"x":777,"y":390,"width":17,"height":6}},{"id":"891e8a22-de39-4106-bbde-64fc00e002b3","block_type":"box","text":"15","page_number":46,"box":{"x":855,"y":390,"width":11,"height":6}},{"id":"4c318f2f-1c8e-458c-abb1-42767b07edd4","block_type":"box","text":"5","page_number":46,"box":{"x":932,"y":390,"width":5,"height":6}},{"id":"c7739681-4919-43cc-b3d2-92ea475233cc","block_type":"box","text":"Closing number of shares","page_number":46,"box":{"x":522,"y":400,"width":135,"height":8}},{"id":"94fb0ad2-1f91-4c55-9972-86f0f3b22c2c","block_type":"box","text":"91,215","page_number":46,"box":{"x":760,"y":400,"width":34,"height":7}},{"id":"1304ba1a-4eab-4d15-856b-9a8cd5ebd68a","block_type":"box","text":"13,043","page_number":46,"box":{"x":831,"y":400,"width":35,"height":7}},{"id":"c192505e-3ce3-4153-9478-2c499f087720","block_type":"box","text":"5,000","page_number":46,"box":{"x":909,"y":400,"width":28,"height":7}},{"id":"4e264e0a-c0e6-4b0b-aa1f-32e5b9594f65","block_type":"box","text":"Operating charges","page_number":46,"box":{"x":521,"y":410,"width":99,"height":8}},{"id":"a0dcf43b-16c4-4eb5-afe7-27de027963e3","block_type":"box","text":"0.15%","page_number":46,"box":{"x":763,"y":410,"width":31,"height":7}},{"id":"63b0cc2d-ede7-41ec-bf63-dbb536cb8c87","block_type":"box","text":"0.15%","page_number":46,"box":{"x":834,"y":410,"width":31,"height":7}},{"id":"34640430-00ba-4b0e-b79f-e6bd5b1efc91","block_type":"box","text":"0.15%","page_number":46,"box":{"x":906,"y":410,"width":31,"height":7}},{"id":"92fad72c-c2ea-4609-8900-b20981859a1e","block_type":"box","text":"Direct transaction costs","page_number":46,"box":{"x":522,"y":420,"width":125,"height":7}},{"id":"afe0b10f-47bd-46b5-a2a7-a871306307a9","block_type":"box","text":"0.01%","page_number":46,"box":{"x":762,"y":420,"width":32,"height":7}},{"id":"f142f70c-e604-4827-a519-9be02141048e","block_type":"box","text":"0.02%","page_number":46,"box":{"x":833,"y":420,"width":32,"height":7}},{"id":"cfdd66bb-a9a2-4b65-a2a7-52366871a036","block_type":"box","text":"0.04%","page_number":46,"box":{"x":904,"y":420,"width":33,"height":7}},{"id":"57374417-d301-4e3a-8319-0998667848af","block_type":"box","text":"Prices","page_number":46,"box":{"x":522,"y":438,"width":35,"height":7}},{"id":"1db6d25f-9db8-4b7c-b83a-45250e4dda12","block_type":"box","text":"^","page_number":46,"box":{"x":558,"y":438,"width":3,"height":2}},{"id":"23814f58-869e-4602-a295-b91ada41ff2e","block_type":"box","text":"Highest share price","page_number":46,"box":{"x":522,"y":448,"width":103,"height":8}},{"id":"4987ff58-86e9-43f8-92bf-620bc54106c4","block_type":"box","text":"127.40","page_number":46,"box":{"x":761,"y":448,"width":33,"height":6}},{"id":"e62914a6-c584-4113-9d48-259614d81cf8","block_type":"box","text":"115.90","page_number":46,"box":{"x":832,"y":448,"width":34,"height":6}},{"id":"f096f0b3-608b-49bf-8801-22a5f46fb44f","block_type":"box","text":"104.60","page_number":46,"box":{"x":902,"y":448,"width":35,"height":6}},{"id":"b2a1047e-562b-4e2b-8381-786a0221bb65","block_type":"box","text":"Lowest share price","page_number":46,"box":{"x":522,"y":458,"width":100,"height":8}},{"id":"c5734544-5aca-48ef-8811-7a934277e371","block_type":"box","text":"115.00","page_number":46,"box":{"x":760,"y":458,"width":34,"height":6}},{"id":"1cd98522-b901-489a-bd6a-bf3fc880898d","block_type":"box","text":"94.33","page_number":46,"box":{"x":836,"y":458,"width":30,"height":6}},{"id":"8c72b02d-2fe4-48c8-bc23-1cb5e8129286","block_type":"box","text":"100.00","page_number":46,"box":{"x":902,"y":458,"width":35,"height":6}},{"id":"480f257d-ea77-46ae-9173-3ea5997c4cb0","block_type":"box","text":"** Class S Accumulation launched on 30 September 2024.","page_number":46,"box":{"x":521,"y":481,"width":310,"height":8}},{"id":"fd9d05d8-ba97-4fad-a3ff-897533a84f2b","block_type":"box","text":"Class S Income","page_number":46,"box":{"x":522,"y":506,"width":142,"height":9}},{"id":"009dd18f-01a0-4bef-ae0f-5bc601e92dbf","block_type":"box","text":"Change in net assets","page_number":46,"box":{"x":521,"y":532,"width":120,"height":8}},{"id":"f1ec3a4a-9241-4152-b9e5-ffed89373246","block_type":"box","text":"30/06/26","page_number":46,"box":{"x":676,"y":532,"width":47,"height":6}},{"id":"7badc5a5-a10d-4486-9fbe-1c3f027f44f7","block_type":"box","text":"31/12/25","page_number":46,"box":{"x":749,"y":532,"width":45,"height":6}},{"id":"a010539c-0580-4bca-9e7e-7bd95469859c","block_type":"box","text":"31/12/24","page_number":46,"box":{"x":820,"y":532,"width":46,"height":6}},{"id":"5d9e32b6-5832-4afd-8e47-b64864a9f9df","block_type":"box","text":"31/12/23","page_number":46,"box":{"x":892,"y":532,"width":45,"height":6}},{"id":"6dee2100-ded5-41bf-b7c5-60b0aea547c5","block_type":"box","text":"per share","page_number":46,"box":{"x":522,"y":542,"width":53,"height":7}},{"id":"7d1b2191-3942-4259-bede-21232f932095","block_type":"box","text":"(p)","page_number":46,"box":{"x":709,"y":542,"width":14,"height":8}},{"id":"74903924-08f5-436b-9dfd-b816f91862d0","block_type":"box","text":"(p)","page_number":46,"box":{"x":780,"y":542,"width":14,"height":8}},{"id":"57ff21e9-76de-4abc-a5a3-364eb5389e79","block_type":"box","text":"(p)","page_number":46,"box":{"x":852,"y":542,"width":14,"height":8}},{"id":"4ce2711a-bacc-4a76-ae1e-c28b3b00deda","block_type":"box","text":"(p)","page_number":46,"box":{"x":923,"y":542,"width":14,"height":8}},{"id":"9695372f-5539-44d4-8329-708de839cc34","block_type":"box","text":"Opening net asset","page_number":46,"box":{"x":521,"y":560,"width":97,"height":8}},{"id":"4c3fc8ce-d11e-4391-9e84-bdad6897b9f5","block_type":"box","text":"value per share","page_number":46,"box":{"x":521,"y":570,"width":82,"height":8}},{"id":"b262bcc3-3e0f-4c9c-960c-2003da874d35","block_type":"box","text":"142.41","page_number":46,"box":{"x":689,"y":560,"width":32,"height":6}},{"id":"d9c50f0a-df8e-450c-aafc-ab583280d921","block_type":"box","text":"129.83","page_number":46,"box":{"x":759,"y":560,"width":35,"height":7}},{"id":"33820ccc-18b1-4bd3-83b2-5e55c81278be","block_type":"box","text":"117.84","page_number":46,"box":{"x":833,"y":560,"width":33,"height":7}},{"id":"f1e14f11-837e-4604-a338-0b5f748148dd","block_type":"box","text":"109.72","page_number":46,"box":{"x":903,"y":560,"width":34,"height":7}},{"id":"5584057f-7443-4330-bffa-4b954b4b6e54","block_type":"box","text":"Return before operating","page_number":46,"box":{"x":522,"y":587,"width":126,"height":8}},{"id":"731364c0-42cb-4c6d-bdeb-d66101b22a0d","block_type":"box","text":"charges*","page_number":46,"box":{"x":521,"y":597,"width":47,"height":8}},{"id":"5b5617b5-1848-468d-914c-8009e5b2af68","block_type":"box","text":"14.17","page_number":46,"box":{"x":697,"y":587,"width":26,"height":6}},{"id":"d9c96b5d-402c-4542-af27-252a1e9fe541","block_type":"box","text":"15.34","page_number":46,"box":{"x":766,"y":587,"width":28,"height":7}},{"id":"0b3c9acd-c823-46b0-8739-6e21594af558","block_type":"box","text":"15.17","page_number":46,"box":{"x":839,"y":587,"width":27,"height":7}},{"id":"5c903d55-58ae-4f35-bb45-afc39b6b6658","block_type":"box","text":"11.08","page_number":46,"box":{"x":910,"y":587,"width":27,"height":7}},{"id":"784b2e4c-99eb-4e9e-b7ce-fa662c46f4a8","block_type":"box","text":"Operating charges","page_number":46,"box":{"x":521,"y":614,"width":99,"height":8}},{"id":"38ecf33e-90a1-4ac9-a432-f7114b5b466f","block_type":"box","text":"(0.11)","page_number":46,"box":{"x":699,"y":614,"width":28,"height":8}},{"id":"87f71f3c-9992-41ea-ba5f-5b41b8322692","block_type":"box","text":"(0.20)","page_number":46,"box":{"x":768,"y":614,"width":30,"height":8}},{"id":"c854141d-76a7-4702-bd44-b29d6f224be3","block_type":"box","text":"(0.19)","page_number":46,"box":{"x":841,"y":614,"width":29,"height":8}},{"id":"28128c64-1329-4c2b-bfdf-88148fc2d043","block_type":"box","text":"(0.17)","page_number":46,"box":{"x":913,"y":614,"width":28,"height":8}},{"id":"5aedc62a-93fe-4e4d-9549-aa30f86aa25f","block_type":"box","text":"Return after operating","page_number":46,"box":{"x":522,"y":632,"width":116,"height":8}},{"id":"c2bf0b45-9b82-4085-809c-a0951ec0b1f3","block_type":"box","text":"charges*","page_number":46,"box":{"x":521,"y":641,"width":47,"height":8}},{"id":"656b4561-2a18-4ab8-ba4e-c8433c0eda4e","block_type":"box","text":"14.06","page_number":46,"box":{"x":695,"y":632,"width":28,"height":6}},{"id":"c21a1a08-67d1-4ed2-8716-00da39726c05","block_type":"box","text":"15.14","page_number":46,"box":{"x":768,"y":632,"width":26,"height":6}},{"id":"0f8888c2-f896-4e29-84fc-eb9566578582","block_type":"box","text":"14.98","page_number":46,"box":{"x":838,"y":632,"width":28,"height":6}},{"id":"bb3192eb-adeb-439c-aeee-fb985a9f7056","block_type":"box","text":"10.91","page_number":46,"box":{"x":909,"y":632,"width":26,"height":6}},{"id":"7c1c3a55-997c-4a6d-bd6a-aac7da05cbd7","block_type":"box","text":"Distributions on income","page_number":46,"box":{"x":522,"y":659,"width":124,"height":6}},{"id":"da9fd51b-f040-425a-8c6c-f51d78854615","block_type":"box","text":"shares","page_number":46,"box":{"x":521,"y":669,"width":36,"height":6}},{"id":"8de88620-0a95-4339-8da1-1f184f6bf68a","block_type":"box","text":"(1.01)","page_number":46,"box":{"x":699,"y":659,"width":28,"height":8}},{"id":"eb9e8f46-52b7-4ec1-976d-ffcf08562b40","block_type":"box","text":"(2.56)","page_number":46,"box":{"x":768,"y":659,"width":30,"height":8}},{"id":"b0b4ff09-79c8-4e36-926f-6f7c13eea62c","block_type":"box","text":"(2.99)","page_number":46,"box":{"x":840,"y":659,"width":30,"height":8}},{"id":"d374b047-0a57-419e-ac84-2d200210eda1","block_type":"box","text":"(2.79)","page_number":46,"box":{"x":912,"y":659,"width":29,"height":8}},{"id":"e363b9a1-bacb-4b3e-90ad-b1471149f149","block_type":"box","text":"Closing net asset","page_number":46,"box":{"x":521,"y":686,"width":100,"height":8}},{"id":"6d42aebc-c9df-4248-be49-3b4f48f9d3e4","block_type":"box","text":"value per share","page_number":46,"box":{"x":521,"y":696,"width":88,"height":7}},{"id":"b8fb196b-68e6-47d8-b495-cf024b64adb3","block_type":"box","text":"155.46","page_number":46,"box":{"x":687,"y":686,"width":36,"height":6}},{"id":"cd07a437-3353-4b4c-b222-e67373516900","block_type":"box","text":"142.41","page_number":46,"box":{"x":759,"y":686,"width":34,"height":6}},{"id":"9ac23b3c-8a4b-4655-a6e0-95f5a0ed03a0","block_type":"box","text":"129.83","page_number":46,"box":{"x":830,"y":686,"width":36,"height":6}},{"id":"6cc781f5-a29b-43aa-8455-d3981e819559","block_type":"box","text":"117.84","page_number":46,"box":{"x":904,"y":686,"width":33,"height":6}},{"id":"9c72567a-8ba1-4204-bf44-cf616326da2a","block_type":"box","text":"* after direct transaction","page_number":46,"box":{"x":521,"y":714,"width":127,"height":6}},{"id":"04f66845-4adb-4cdd-ab4b-049c09d38124","block_type":"box","text":"costs of:","page_number":46,"box":{"x":521,"y":723,"width":44,"height":6}},{"id":"53d67170-1d43-4776-9b41-3aa7f7a78697","block_type":"box","text":"0.01","page_number":46,"box":{"x":701,"y":714,"width":20,"height":6}},{"id":"81f4d160-141d-4a8f-be3d-f87749995970","block_type":"box","text":"0.03","page_number":46,"box":{"x":772,"y":714,"width":22,"height":6}},{"id":"dc7ab486-d607-4d0f-a129-640e65fa260f","block_type":"box","text":"0.05","page_number":46,"box":{"x":843,"y":714,"width":23,"height":6}},{"id":"28d7bb89-706c-4ac1-a9ad-c269cfff2c3f","block_type":"box","text":"0.04","page_number":46,"box":{"x":915,"y":714,"width":22,"height":6}},{"id":"59c3b06f-7e79-47fe-82ec-70d7065e3a90","block_type":"box","text":"Performance","page_number":46,"box":{"x":522,"y":739,"width":73,"height":6}},{"id":"ae951a89-6e80-4bc2-9984-f7767d494297","block_type":"box","text":"Return after charges","page_number":46,"box":{"x":522,"y":748,"width":109,"height":8}},{"id":"ad265284-82d1-476c-94b6-f7821a41e198","block_type":"box","text":"9.87%","page_number":46,"box":{"x":690,"y":748,"width":33,"height":6}},{"id":"f08ba27c-a113-4300-874a-6f799758a7a9","block_type":"box","text":"11.66%","page_number":46,"box":{"x":757,"y":748,"width":37,"height":6}},{"id":"ecabdb43-d617-43e9-9512-4fd58e45cb81","block_type":"box","text":"12.71%","page_number":46,"box":{"x":829,"y":748,"width":36,"height":6}},{"id":"0d58ffc8-f958-4646-8912-b920bc00aca7","block_type":"box","text":"9.94%","page_number":46,"box":{"x":904,"y":748,"width":33,"height":6}},{"id":"13368d64-7bc7-494f-aefb-02aece4a8855","block_type":"box","text":"Other information","page_number":46,"box":{"x":521,"y":766,"width":102,"height":6}},{"id":"258eacae-75c5-41e0-94cb-e1abcac2ef58","block_type":"box","text":"Closing net asset value","page_number":46,"box":{"x":522,"y":775,"width":123,"height":8}},{"id":"caa0404e-63dd-46e6-a71e-93ff9aa45cdb","block_type":"box","text":"(£’000)","page_number":46,"box":{"x":522,"y":785,"width":37,"height":8}},{"id":"835b3b69-d378-400a-ad28-461b087cec9d","block_type":"box","text":"30,479","page_number":46,"box":{"x":687,"y":775,"width":36,"height":8}},{"id":"b1f0ff51-add1-4f28-a6cb-7100e52a15f4","block_type":"box","text":"27,921","page_number":46,"box":{"x":760,"y":775,"width":33,"height":8}},{"id":"db4060e0-2e75-4581-a9ec-6bf6d4e84a27","block_type":"box","text":"25,454","page_number":46,"box":{"x":829,"y":775,"width":37,"height":8}},{"id":"4debf18d-7cf5-4158-abbd-51f3cd8ed4ca","block_type":"box","text":"23,103","page_number":46,"box":{"x":902,"y":775,"width":35,"height":8}},{"id":"7b886235-5346-4edf-b0b0-95fe15bc2929","block_type":"box","text":"Closing number of","page_number":46,"box":{"x":522,"y":794,"width":97,"height":8}},{"id":"788ca4b1-98b3-4df4-841a-6f74144af9cc","block_type":"box","text":"shares","page_number":46,"box":{"x":521,"y":804,"width":36,"height":6}},{"id":"d7be97c9-9d59-4494-bf95-127e03685b36","block_type":"box","text":"19,605,635","page_number":46,"box":{"x":667,"y":794,"width":56,"height":8}},{"id":"051d2fa5-9438-459e-95dc-d30ece9ad3f5","block_type":"box","text":"19,605,635","page_number":46,"box":{"x":738,"y":794,"width":56,"height":8}},{"id":"02123c66-9ec6-42b1-87f6-c2eddc180439","block_type":"box","text":"19,605,635","page_number":46,"box":{"x":810,"y":794,"width":56,"height":8}},{"id":"06c87dd9-2db3-44b1-a33b-99d43718446f","block_type":"box","text":"19,605,635","page_number":46,"box":{"x":881,"y":794,"width":56,"height":8}},{"id":"57da80e8-5817-43c0-8fae-27b145b3c974","block_type":"box","text":"Operating charges","page_number":46,"box":{"x":521,"y":813,"width":99,"height":8}},{"id":"cb6b584d-ea83-4ec7-b898-3e20dd191f50","block_type":"box","text":"0.15%","page_number":46,"box":{"x":691,"y":813,"width":32,"height":6}},{"id":"ae203708-ef19-4506-9d82-5c8842babe2e","block_type":"box","text":"0.15%","page_number":46,"box":{"x":763,"y":813,"width":31,"height":6}},{"id":"3c580c90-da6d-48f8-aa30-0a326edf8046","block_type":"box","text":"0.15%","page_number":46,"box":{"x":834,"y":813,"width":31,"height":6}},{"id":"78fd3840-e7a4-4740-93db-78645f51beec","block_type":"box","text":"0.15%","page_number":46,"box":{"x":906,"y":813,"width":31,"height":6}},{"id":"19d3ff55-d95e-475b-ba15-8945e1a38ace","block_type":"box","text":"Direct transaction costs","page_number":46,"box":{"x":522,"y":823,"width":125,"height":6}},{"id":"2a55bbe8-64d8-4226-ad93-e86b3a326571","block_type":"box","text":"0.01%","page_number":46,"box":{"x":691,"y":823,"width":32,"height":7}},{"id":"bc7e90e1-5dd0-48f6-bbba-eb985cbfd558","block_type":"box","text":"0.02%","page_number":46,"box":{"x":761,"y":823,"width":33,"height":7}},{"id":"e9f3e074-ec5f-40e5-8297-7a7536842833","block_type":"box","text":"0.04%","page_number":46,"box":{"x":833,"y":823,"width":32,"height":7}},{"id":"b7352f5c-7e53-4952-8158-f5c455f992d5","block_type":"box","text":"0.03%","page_number":46,"box":{"x":904,"y":823,"width":33,"height":7}},{"id":"e7c598c3-d19d-4154-9c59-95862fd9f2da","block_type":"box","text":"Prices","page_number":46,"box":{"x":522,"y":841,"width":35,"height":6}},{"id":"0b2cb495-fb1d-4a72-b48f-fbde27097d24","block_type":"box","text":"^","page_number":46,"box":{"x":558,"y":841,"width":3,"height":2}},{"id":"6d3b1bb8-c208-453a-ad51-d1791f57cb7b","block_type":"box","text":"Highest share price","page_number":46,"box":{"x":522,"y":851,"width":103,"height":7}},{"id":"2398c562-4b41-47df-9166-e109ec8818d1","block_type":"box","text":"157.90","page_number":46,"box":{"x":689,"y":851,"width":34,"height":6}},{"id":"5c7f17c4-8f65-4413-a887-27c87dc4e44b","block_type":"box","text":"145.10","page_number":46,"box":{"x":761,"y":851,"width":33,"height":6}},{"id":"1a85620e-6407-42de-b00e-b7d9e1459d02","block_type":"box","text":"134.10","page_number":46,"box":{"x":832,"y":851,"width":34,"height":6}},{"id":"c3e27cc7-7253-4bdd-b49a-369bd4668c3b","block_type":"box","text":"120.20","page_number":46,"box":{"x":902,"y":851,"width":35,"height":6}},{"id":"972cfac3-8a7f-4591-bae4-b8bc017c67b6","block_type":"box","text":"Lowest share price","page_number":46,"box":{"x":522,"y":861,"width":100,"height":8}},{"id":"6fc16366-c0f8-4c1d-98d0-425eb196a83c","block_type":"box","text":"142.50","page_number":46,"box":{"x":688,"y":861,"width":35,"height":6}},{"id":"cbd79f0b-bdc6-492c-806e-62c4cbd5336f","block_type":"box","text":"119.10","page_number":46,"box":{"x":762,"y":861,"width":32,"height":6}},{"id":"9a5f92a9-59de-45fd-ab21-7ac8719264b1","block_type":"box","text":"114.30","page_number":46,"box":{"x":832,"y":861,"width":34,"height":6}},{"id":"180d86c4-5659-4d37-8fc5-7bf6c705e29e","block_type":"box","text":"109.20","page_number":46,"box":{"x":902,"y":861,"width":35,"height":6}},{"id":"d6a166f4-a685-439e-8961-fc66f2f70b36","block_type":"box","text":"Royal London GMAP Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":46,"box":{"x":486,"y":33,"width":427,"height":8}},{"id":"faa205f6-5fc2-4588-9eae-d7a219dbb12e","block_type":"box","text":"46","page_number":46,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"ae4c0f48-fb6a-4c29-880f-2d900678688e","block_type":"box","text":"Comparative Tables","page_number":47,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"d28cfbd3-2650-44ee-8183-5a7588412cfe","block_type":"box","text":"(continued)","page_number":47,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"8ebcadcc-e312-4c4b-848a-8340d15e81d9","block_type":"box","text":"Class Z Accumulation","page_number":47,"box":{"x":57,"y":151,"width":202,"height":9}},{"id":"f1c33b44-ba7b-44de-8bae-5d3d3a82afdc","block_type":"box","text":"Change in net assets","page_number":47,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"e447067d-dad1-4411-8681-6e9861be55e5","block_type":"box","text":"30/06/26","page_number":47,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"5ca1ab95-5850-4fa4-8493-b8aa35e3d4d5","block_type":"box","text":"31/12/25","page_number":47,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"d59c215d-cdd1-4484-8418-e63946169c6e","block_type":"box","text":"31/12/24","page_number":47,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"374fd13f-1bff-4e18-a004-4b428b78bf5d","block_type":"box","text":"31/12/23**","page_number":47,"box":{"x":418,"y":177,"width":55,"height":6}},{"id":"2962a193-2b32-4e9d-999f-4440d1f15fe0","block_type":"box","text":"per share","page_number":47,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"5993ab7e-01f4-42b3-a106-512899ac828a","block_type":"box","text":"(p)","page_number":47,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"299354fb-f1a8-4a97-8218-545166404887","block_type":"box","text":"(p)","page_number":47,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"6d52fe68-90c8-478d-bfe9-0c5f348a1f89","block_type":"box","text":"(p)","page_number":47,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"164a12c2-87e3-4e5b-914f-f32d21b8298b","block_type":"box","text":"(p)","page_number":47,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"cbe978f4-6404-4117-96a1-9c8b5250a8fe","block_type":"box","text":"Opening net asset","page_number":47,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"cf0b43dc-2658-4283-94b9-1acabdd32cc0","block_type":"box","text":"value per share","page_number":47,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"d3e54e98-0f04-4b27-955c-ce37315e970e","block_type":"box","text":"133.62","page_number":47,"box":{"x":224,"y":205,"width":34,"height":6}},{"id":"287c69b3-15da-4375-ab40-753fcd4d9a98","block_type":"box","text":"119.84","page_number":47,"box":{"x":296,"y":205,"width":34,"height":6}},{"id":"0e8b1ceb-21e8-4403-a577-49c29ab8de97","block_type":"box","text":"106.48","page_number":47,"box":{"x":366,"y":205,"width":35,"height":6}},{"id":"84400989-47f4-441a-bf0f-17b8f747113e","block_type":"box","text":"100.00","page_number":47,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"9cf341cc-539c-4957-bcfb-83589a8f143f","block_type":"box","text":"Return before operating","page_number":47,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"30f54479-dc7f-4a96-88e9-692e8ff567a2","block_type":"box","text":"charges*","page_number":47,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"51a334aa-5ca7-4274-aedf-ec2654b35c8a","block_type":"box","text":"13.29","page_number":47,"box":{"x":230,"y":232,"width":29,"height":6}},{"id":"c208575b-6ce7-4ac6-8455-e2d15c503839","block_type":"box","text":"14.28","page_number":47,"box":{"x":302,"y":232,"width":28,"height":6}},{"id":"e39e7a3b-113c-4d72-930a-bc4c01967883","block_type":"box","text":"13.83","page_number":47,"box":{"x":373,"y":232,"width":28,"height":6}},{"id":"4e2a7280-4813-4582-a3bc-1cc636e4b6b9","block_type":"box","text":"6.90","page_number":47,"box":{"x":450,"y":232,"width":23,"height":6}},{"id":"ddee3762-82ce-4679-b434-c4cd9a216a43","block_type":"box","text":"Operating charges","page_number":47,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"cef09334-8eb7-431b-83d2-d8c67d833f58","block_type":"box","text":"(0.24)","page_number":47,"box":{"x":233,"y":259,"width":30,"height":8}},{"id":"c4d41e66-b833-42b5-b6b2-0b2c5c03ae2d","block_type":"box","text":"(0.50)","page_number":47,"box":{"x":304,"y":259,"width":30,"height":8}},{"id":"17dd1c4f-d705-426f-8f0e-5d139fa5825d","block_type":"box","text":"(0.47)","page_number":47,"box":{"x":376,"y":259,"width":29,"height":8}},{"id":"07377dfd-b171-4bb3-8909-1a2eda71c15b","block_type":"box","text":"(0.42)","page_number":47,"box":{"x":447,"y":259,"width":30,"height":8}},{"id":"c124a7a1-7572-4fc4-9a3d-593846854d0f","block_type":"box","text":"Return after operating","page_number":47,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"1d005779-4b5f-468d-b737-1d86ffde1709","block_type":"box","text":"charges*","page_number":47,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"828aa070-badf-4991-8600-4d5d9af3da01","block_type":"box","text":"13.05","page_number":47,"box":{"x":231,"y":276,"width":28,"height":6}},{"id":"7468c684-3601-4bec-8439-4eff0af3ebab","block_type":"box","text":"13.78","page_number":47,"box":{"x":303,"y":276,"width":27,"height":6}},{"id":"92b5603f-ee13-4f12-851d-27a0a3e07f20","block_type":"box","text":"13.36","page_number":47,"box":{"x":373,"y":276,"width":28,"height":6}},{"id":"a7884fcb-f5d0-43c4-b782-83fb4cd3f6c7","block_type":"box","text":"6.48","page_number":47,"box":{"x":450,"y":276,"width":23,"height":6}},{"id":"9662a3e0-8e0c-41fa-965e-cf24d2db6e77","block_type":"box","text":"Distributions on","page_number":47,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"a59197bf-f0ba-44c0-adfe-7d84858c3179","block_type":"box","text":"accumulation shares","page_number":47,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"34c9f001-79c2-4766-b28f-a29de7c298c1","block_type":"box","text":"(0.83)","page_number":47,"box":{"x":232,"y":303,"width":31,"height":8}},{"id":"9069fc25-df1f-4ca5-9081-63949356a8b4","block_type":"box","text":"(2.12)","page_number":47,"box":{"x":306,"y":303,"width":28,"height":8}},{"id":"e2e58967-d874-4626-9c0e-428bb4b99806","block_type":"box","text":"(2.64)","page_number":47,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"1213e8cc-3cd7-409b-ae08-867a81867592","block_type":"box","text":"(2.22)","page_number":47,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"a60a881e-d7da-41b7-880b-e3a08d9d8762","block_type":"box","text":"Retained distributions","page_number":47,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"f0f970a1-2a0e-48b0-8fb0-578b3b2f5514","block_type":"box","text":"on accumulation shares","page_number":47,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"adbd7465-f45b-4a78-a9be-ba8176ac3549","block_type":"box","text":"0.83","page_number":47,"box":{"x":236,"y":330,"width":22,"height":6}},{"id":"a381e203-099a-4b28-8b4a-edd679fdb143","block_type":"box","text":"2.12","page_number":47,"box":{"x":309,"y":330,"width":21,"height":6}},{"id":"4c286584-70eb-4185-8768-e1c7eadbfb4d","block_type":"box","text":"2.64","page_number":47,"box":{"x":378,"y":330,"width":23,"height":6}},{"id":"f01f9237-94c4-40ca-8ace-5d07467ffbfe","block_type":"box","text":"2.22","page_number":47,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"b30afd3e-4223-4a34-8751-065a77e09d8b","block_type":"box","text":"Closing net asset","page_number":47,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"4f6ec42b-a135-462e-b365-53d626366217","block_type":"box","text":"value per share","page_number":47,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"9fe14898-69eb-4501-86eb-1d3230c314bb","block_type":"box","text":"146.67","page_number":47,"box":{"x":223,"y":357,"width":36,"height":6}},{"id":"16e76cfb-75a7-4c5a-8c05-7c0a0501d178","block_type":"box","text":"133.62","page_number":47,"box":{"x":295,"y":357,"width":35,"height":6}},{"id":"fd71f9e0-e9de-40e0-aaeb-3c1ba3f90244","block_type":"box","text":"119.84","page_number":47,"box":{"x":367,"y":357,"width":35,"height":6}},{"id":"b6faf9e7-200a-4252-8b59-a032c8524cc7","block_type":"box","text":"106.48","page_number":47,"box":{"x":437,"y":357,"width":36,"height":6}},{"id":"8ac801b8-ad3a-4e86-a2ee-631525ac163c","block_type":"box","text":"* after direct transaction","page_number":47,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"567d8f1c-e3e9-4d93-87a4-23e2785046cc","block_type":"box","text":"costs of:","page_number":47,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"d4a1956a-47d8-4bc8-a5c3-866b9b45abcd","block_type":"box","text":"0.01","page_number":47,"box":{"x":236,"y":385,"width":21,"height":6}},{"id":"d846c766-38ec-46fa-90aa-2684c0fea1d1","block_type":"box","text":"0.03","page_number":47,"box":{"x":308,"y":385,"width":22,"height":6}},{"id":"9b58d1b4-5035-4ad6-a121-c6e8997afd85","block_type":"box","text":"0.04","page_number":47,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"ae4aa696-ef49-46c9-8702-72a8e489f842","block_type":"box","text":"0.03","page_number":47,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"30ae3523-a8b5-4984-ac6a-cb185586ddb6","block_type":"box","text":"Performance","page_number":47,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"7325d965-1af5-43bb-ab03-6d76c3c98439","block_type":"box","text":"Return after charges","page_number":47,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"2a58c235-6357-4322-9ffb-b3bec30868f9","block_type":"box","text":"9.77%","page_number":47,"box":{"x":226,"y":419,"width":32,"height":7}},{"id":"125126a3-e4dc-40c3-8829-ba16e4cc8043","block_type":"box","text":"11.50%","page_number":47,"box":{"x":292,"y":419,"width":38,"height":7}},{"id":"6bf602c2-6d01-4757-885f-0d8c6a9f78df","block_type":"box","text":"12.55%","page_number":47,"box":{"x":363,"y":419,"width":38,"height":7}},{"id":"37c1a847-b301-406f-b330-7d1e71088b23","block_type":"box","text":"6.48%","page_number":47,"box":{"x":440,"y":419,"width":33,"height":7}},{"id":"836a98a7-fb06-4bc8-b663-01401647898f","block_type":"box","text":"Other information","page_number":47,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"74b7ebc4-6c79-4bb2-bc07-5488648a6e11","block_type":"box","text":"Closing net asset value","page_number":47,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"a6e6e9c7-33e0-42d6-bfeb-c4d7e4a940c0","block_type":"box","text":"(£’000)","page_number":47,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"5d5acc34-be4a-4170-a2f1-bb47007e8299","block_type":"box","text":"122,435","page_number":47,"box":{"x":217,"y":447,"width":42,"height":7}},{"id":"71faee22-721a-4569-a71b-90d060dff60b","block_type":"box","text":"95,475","page_number":47,"box":{"x":295,"y":447,"width":35,"height":7}},{"id":"868d1337-4f35-42d2-9698-37be7acdedaf","block_type":"box","text":"31,582","page_number":47,"box":{"x":366,"y":447,"width":35,"height":7}},{"id":"852893a6-8582-4164-b12c-7a491f801ba7","block_type":"box","text":"214","page_number":47,"box":{"x":454,"y":447,"width":19,"height":6}},{"id":"7171e004-2b68-400e-a628-19a07f48a28e","block_type":"box","text":"Closing number of","page_number":47,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"74bf3288-08eb-4e6d-878b-7fa5013fac5c","block_type":"box","text":"shares","page_number":47,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"286e31f1-7e27-4ea6-8fbb-bc56ed665901","block_type":"box","text":"83,474,134","page_number":47,"box":{"x":201,"y":466,"width":57,"height":7}},{"id":"09c332b2-40f9-4ac2-a91b-4a7cd9578bb8","block_type":"box","text":"71,454,822","page_number":47,"box":{"x":271,"y":466,"width":59,"height":7}},{"id":"e1e3c00a-96c1-4c0c-afa7-cbfb4bec869d","block_type":"box","text":"26,353,916","page_number":47,"box":{"x":342,"y":466,"width":59,"height":7}},{"id":"06d83c28-b47f-4648-a13a-77364e2b4774","block_type":"box","text":"200,953","page_number":47,"box":{"x":432,"y":466,"width":41,"height":7}},{"id":"ddfb891f-1b4e-4c09-bf1b-c64cfcd816a4","block_type":"box","text":"Operating charges","page_number":47,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"c88c2567-14c6-4de4-8646-0f822a59b188","block_type":"box","text":"0.30%","page_number":47,"box":{"x":221,"y":485,"width":33,"height":6}},{"id":"c81a563b-0c9a-44d6-8a53-4980d3be06f5","block_type":"box","text":"#","page_number":47,"box":{"x":255,"y":485,"width":4,"height":3}},{"id":"92748a01-f383-41a9-8222-7309479af1bd","block_type":"box","text":"0.40%","page_number":47,"box":{"x":297,"y":485,"width":33,"height":6}},{"id":"349caf56-7068-450a-a780-e8db485c4678","block_type":"box","text":"0.40%","page_number":47,"box":{"x":368,"y":485,"width":33,"height":6}},{"id":"b79b8a95-0082-4b9e-9419-63b39d07a5cf","block_type":"box","text":"0.40%","page_number":47,"box":{"x":440,"y":485,"width":33,"height":6}},{"id":"d4187168-d3ea-4422-b599-113c4517eb7a","block_type":"box","text":"Direct transaction costs","page_number":47,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"2898688f-ec11-49c7-9c7b-967ef5e43ee4","block_type":"box","text":"0.01%","page_number":47,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"cb413923-e382-401e-8083-dc0f1f2ca56c","block_type":"box","text":"0.02%","page_number":47,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"83f58195-bd49-4691-9c07-b688b2d78288","block_type":"box","text":"0.04%","page_number":47,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"5b81609e-e7d3-4957-9c2b-ed349ff5c09d","block_type":"box","text":"0.03%","page_number":47,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"e0b736e3-ff2b-4371-8a8f-ad1b7dc39919","block_type":"box","text":"Prices","page_number":47,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"a4f34e9d-d3c1-44b9-8af3-5dbabf0df4e7","block_type":"box","text":"^","page_number":47,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"997feb67-fc08-4647-b56a-2acec549793f","block_type":"box","text":"Highest share price","page_number":47,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"490daef7-6c7b-4040-8cfd-b0d905b9a778","block_type":"box","text":"148.00","page_number":47,"box":{"x":223,"y":522,"width":35,"height":6}},{"id":"60157221-85a4-4225-b9b3-0b00a9241b41","block_type":"box","text":"134.70","page_number":47,"box":{"x":296,"y":522,"width":34,"height":6}},{"id":"89f787dc-d509-49f4-9064-875531cc7105","block_type":"box","text":"121.90","page_number":47,"box":{"x":367,"y":522,"width":34,"height":6}},{"id":"890fbc31-e804-4f79-b39f-1c949e2b169c","block_type":"box","text":"107.00","page_number":47,"box":{"x":439,"y":522,"width":34,"height":6}},{"id":"1c34e779-b020-4006-9b25-4ff816a1ae42","block_type":"box","text":"Lowest share price","page_number":47,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"dc89d190-1c5c-4fb9-98bb-d8783a71ad8c","block_type":"box","text":"133.60","page_number":47,"box":{"x":224,"y":532,"width":34,"height":6}},{"id":"1a086272-7454-402e-ba43-2d07ae8c5783","block_type":"box","text":"109.80","page_number":47,"box":{"x":295,"y":532,"width":35,"height":6}},{"id":"e27befbb-6a7e-4474-8b2b-b31bb69e2164","block_type":"box","text":"104.70","page_number":47,"box":{"x":367,"y":532,"width":34,"height":6}},{"id":"15144529-25c7-4185-9ccb-fd8c241b3b2f","block_type":"box","text":"96.52","page_number":47,"box":{"x":443,"y":532,"width":30,"height":6}},{"id":"c5ad223e-01f7-42ad-95ad-b5e71a77d2b3","block_type":"box","text":"** Class Z Accumulation launched on 31 January 2023.","page_number":47,"box":{"x":57,"y":556,"width":293,"height":7}},{"id":"c03fdbbe-e7e7-49f3-8672-c3017f242d9c","block_type":"box","text":"#","page_number":47,"box":{"x":57,"y":570,"width":3,"height":3}},{"id":"c1f432ac-944e-4a0c-9c07-4466baeafc82","block_type":"box","text":"The FMF changed from 0.40% to 0.30% on 31 March 2026.","page_number":47,"box":{"x":64,"y":570,"width":316,"height":8}},{"id":"a03260fc-74a7-47df-9333-c429e15b4375","block_type":"box","text":"^","page_number":47,"box":{"x":57,"y":584,"width":3,"height":2}},{"id":"15013df0-b4fc-4a2f-afd8-6f4b330a34eb","block_type":"box","text":"The high and low prices disclosed are the high and low prices for the accounting","page_number":47,"box":{"x":63,"y":584,"width":414,"height":8}},{"id":"1c2da01d-58ee-4a02-ac99-9ca00313bd88","block_type":"box","text":"period and not the calendar year.","page_number":47,"box":{"x":57,"y":595,"width":175,"height":7}},{"id":"438da9c9-1068-4c67-b59c-c14b7de827c7","block_type":"box","text":"From 3 June 2019, the Fund has received a full rebate of","page_number":47,"box":{"x":58,"y":613,"width":421,"height":9}},{"id":"dc9fc425-1536-4a3b-8968-d8343544ac33","block_type":"box","text":"synthetic costs to maintain the Fund Management Fee at a","page_number":47,"box":{"x":57,"y":626,"width":420,"height":10}},{"id":"4b0faa39-341c-4058-9899-bed2f95f39ba","block_type":"box","text":"fixed level.","page_number":47,"box":{"x":57,"y":639,"width":71,"height":8}},{"id":"68c51944-f921-48a0-a7a7-a6ff84b6da6d","block_type":"box","text":"It should be noted that past performance is not a reliable","page_number":47,"box":{"x":58,"y":655,"width":419,"height":10}},{"id":"1483fbf4-3770-4770-a3f5-1a584ff7cc69","block_type":"box","text":"indicator of future performance and that the value of shares,","page_number":47,"box":{"x":58,"y":668,"width":419,"height":10}},{"id":"d69dfb8f-fb19-48ba-9233-7f820f459bd1","block_type":"box","text":"and the income derived from them, can vary.","page_number":47,"box":{"x":57,"y":681,"width":302,"height":10}},{"id":"629266ca-7444-49ee-a739-9adeb8d26952","block_type":"box","text":"Royal London GMAP Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":47,"box":{"x":486,"y":33,"width":427,"height":8}},{"id":"febd4c54-88fd-4c16-9e55-4a0757516277","block_type":"box","text":"47","page_number":47,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"adce3c5d-ac9e-4ba3-8bd2-ea62f7dd368b","block_type":"box","text":"Portfolio Statement","page_number":48,"box":{"x":58,"y":94,"width":233,"height":11}},{"id":"c8728473-f9b0-4d2d-a151-342e3ceca07f","block_type":"box","text":"As at 30","page_number":48,"box":{"x":57,"y":113,"width":55,"height":8}},{"id":"686b4b4d-4391-4f27-9073-05fc789032b8","block_type":"box","text":"June 2026","page_number":48,"box":{"x":117,"y":113,"width":70,"height":8}},{"id":"46f38932-30e0-4185-a781-b5c8c208907d","block_type":"box","text":"Bond Collective Investment Schemes – 20.21% (31/12/25 – 24.74%)","page_number":48,"box":{"x":58,"y":201,"width":377,"height":8}},{"id":"15f759f5-56d2-4733-8b03-6325809d7207","block_type":"box","text":"4,949,432","page_number":48,"box":{"x":69,"y":211,"width":51,"height":7}},{"id":"dc99bea8-4e40-46ee-8177-640fcaad6313","block_type":"box","text":"Royal London Emerging Markets Corporate","page_number":48,"box":{"x":129,"y":211,"width":225,"height":8}},{"id":"4fa36c87-1d75-404a-ae5a-1edcb896fc1c","block_type":"box","text":"Bond Fund R Acc","page_number":48,"box":{"x":129,"y":221,"width":90,"height":6}},{"id":"c409b777-a1b2-40ba-9adf-393670e36774","block_type":"box","text":"†","page_number":48,"box":{"x":220,"y":220,"width":3,"height":5}},{"id":"76fcdce4-b739-4bbd-b6ce-00ecb147b73c","block_type":"box","text":"6,327","page_number":48,"box":{"x":371,"y":220,"width":28,"height":8}},{"id":"42f204ea-f7de-4e7f-9759-98d29e5c33a2","block_type":"box","text":"0.75","page_number":48,"box":{"x":450,"y":220,"width":22,"height":7}},{"id":"5eb9faaa-82fe-4848-85be-f7296ae07279","block_type":"box","text":"11,245,689","page_number":48,"box":{"x":64,"y":230,"width":56,"height":7}},{"id":"10c7ca97-d3e9-4198-ad73-89bb1c883177","block_type":"box","text":"Royal London Global High Yield Bond Fund","page_number":48,"box":{"x":129,"y":230,"width":225,"height":8}},{"id":"df3f038b-feb0-4b8a-884d-0c1871b6117b","block_type":"box","text":"R Acc","page_number":48,"box":{"x":129,"y":240,"width":30,"height":6}},{"id":"c6481403-cbbc-43ac-8490-7e1317eaad13","block_type":"box","text":"†","page_number":48,"box":{"x":159,"y":240,"width":3,"height":4}},{"id":"d40ee987-3221-452d-bb15-8289ff12acbc","block_type":"box","text":"14,799","page_number":48,"box":{"x":365,"y":240,"width":34,"height":7}},{"id":"7a8d9335-f414-453f-af01-e7ab15f02e22","block_type":"box","text":"1.75","page_number":48,"box":{"x":451,"y":240,"width":21,"height":6}},{"id":"1c3ddc2a-6d0b-4a35-a647-d7d08d59358f","block_type":"box","text":"3,905,633","page_number":48,"box":{"x":69,"y":249,"width":51,"height":7}},{"id":"56442749-240a-4326-b664-abdeb3addfbf","block_type":"box","text":"Royal London Global Senior ABS Fund","page_number":48,"box":{"x":129,"y":249,"width":202,"height":8}},{"id":"9263589e-d60d-4438-82c4-94448bd34bd5","block_type":"box","text":"R Acc","page_number":48,"box":{"x":129,"y":259,"width":30,"height":6}},{"id":"b2d18e8e-f2cc-49d6-b645-6d8877c5ec15","block_type":"box","text":"†","page_number":48,"box":{"x":159,"y":259,"width":3,"height":4}},{"id":"f75126cf-7965-4883-bed7-405f38f5504d","block_type":"box","text":"4,160","page_number":48,"box":{"x":370,"y":259,"width":29,"height":7}},{"id":"522e46a2-b3f7-4cc3-b372-a6952b979adf","block_type":"box","text":"0.49","page_number":48,"box":{"x":450,"y":259,"width":22,"height":6}},{"id":"b29e0fed-e297-4f86-b240-0d2e7a26d010","block_type":"box","text":"4,057,974","page_number":48,"box":{"x":69,"y":268,"width":51,"height":7}},{"id":"3d825f2b-73c3-4baa-a2f7-999f7c7de9f5","block_type":"box","text":"Royal London Global Sustainable Credit","page_number":48,"box":{"x":129,"y":268,"width":208,"height":8}},{"id":"ec9f19f2-1174-4966-a152-168631c3a451","block_type":"box","text":"Fund R Acc","page_number":48,"box":{"x":129,"y":278,"width":60,"height":6}},{"id":"cb153475-5b11-4a6b-8669-4e002fa09b8f","block_type":"box","text":"†","page_number":48,"box":{"x":189,"y":278,"width":3,"height":4}},{"id":"c69397f0-494a-4323-9fc6-b3899df470d3","block_type":"box","text":"4,220","page_number":48,"box":{"x":370,"y":278,"width":29,"height":7}},{"id":"d95c45c5-e6e2-4496-8c9e-657a32e2dfbe","block_type":"box","text":"0.50","page_number":48,"box":{"x":450,"y":278,"width":22,"height":6}},{"id":"1d424fda-8507-41b2-aa4b-f5730ee8d923","block_type":"box","text":"25,802,238","page_number":48,"box":{"x":62,"y":287,"width":58,"height":7}},{"id":"350ccd22-9563-43c6-8fce-8c7875c7854b","block_type":"box","text":"Royal London Index Linked Fund R Acc","page_number":48,"box":{"x":129,"y":287,"width":206,"height":8}},{"id":"316a8d2c-3165-4cd7-8abb-84efbf0df2d1","block_type":"box","text":"†","page_number":48,"box":{"x":335,"y":287,"width":3,"height":4}},{"id":"bde5347e-aade-4748-857b-51a757c1acd9","block_type":"box","text":"21,077","page_number":48,"box":{"x":364,"y":287,"width":35,"height":7}},{"id":"1798c575-ff38-4190-b1b8-dd0fdead7dd0","block_type":"box","text":"2.50","page_number":48,"box":{"x":450,"y":287,"width":22,"height":6}},{"id":"0a93dd92-0953-4fe1-afcd-e4f3f2c6c375","block_type":"box","text":"16,621,734","page_number":48,"box":{"x":63,"y":297,"width":57,"height":7}},{"id":"b5a6e91c-f163-40c7-87fe-03fcd46f68e7","block_type":"box","text":"Royal London International Government","page_number":48,"box":{"x":129,"y":296,"width":207,"height":8}},{"id":"9099626a-5cce-49e4-abb6-125b69770059","block_type":"box","text":"Bond Fund R Acc","page_number":48,"box":{"x":129,"y":306,"width":90,"height":6}},{"id":"7dfad971-8c17-4254-8d2b-117eeb5cdbfc","block_type":"box","text":"†","page_number":48,"box":{"x":220,"y":306,"width":3,"height":4}},{"id":"801c1305-0a46-4950-96cc-eb005e8d067b","block_type":"box","text":"19,010","page_number":48,"box":{"x":365,"y":306,"width":34,"height":7}},{"id":"8b466858-77a0-49dd-89c2-471eda943f32","block_type":"box","text":"2.25","page_number":48,"box":{"x":450,"y":306,"width":22,"height":6}},{"id":"b13d9534-f195-4dd1-9c38-4ab8b86571fb","block_type":"box","text":"5,038,447","page_number":48,"box":{"x":69,"y":316,"width":51,"height":7}},{"id":"8a5d8922-2842-4fc4-844e-c0ae058ea06a","block_type":"box","text":"Royal London Investment Grade Short","page_number":48,"box":{"x":129,"y":315,"width":200,"height":8}},{"id":"ffbb31d7-31c3-4d06-b8a9-3579f057e748","block_type":"box","text":"Dated Credit Fund R Acc","page_number":48,"box":{"x":129,"y":325,"width":129,"height":6}},{"id":"3ad5cf7f-b230-4ac4-b4a9-af0965c6cb42","block_type":"box","text":"†","page_number":48,"box":{"x":258,"y":325,"width":4,"height":4}},{"id":"3e511c6c-9106-4ebe-bfff-58e771678179","block_type":"box","text":"6,357","page_number":48,"box":{"x":371,"y":325,"width":28,"height":7}},{"id":"7344ffa9-ae99-427f-8b4e-7825427d141e","block_type":"box","text":"0.75","page_number":48,"box":{"x":450,"y":325,"width":22,"height":6}},{"id":"3dad6c68-4e80-4b1e-8b22-572c61717554","block_type":"box","text":"12,720,767","page_number":48,"box":{"x":63,"y":335,"width":57,"height":7}},{"id":"09885695-8517-41b9-934a-3c5639ed3d14","block_type":"box","text":"Royal London Sterling Credit Fund R Acc","page_number":48,"box":{"x":129,"y":334,"width":213,"height":8}},{"id":"975d29d5-37bd-4768-80cf-aa5a6d706864","block_type":"box","text":"†","page_number":48,"box":{"x":343,"y":335,"width":3,"height":4}},{"id":"c46d2266-12a6-4644-a19a-b3c2b66d0502","block_type":"box","text":"16,906","page_number":48,"box":{"x":365,"y":335,"width":34,"height":7}},{"id":"ad056d85-0eac-408a-83b3-c853828c90a9","block_type":"box","text":"2.00","page_number":48,"box":{"x":450,"y":335,"width":22,"height":6}},{"id":"d9d022ea-3263-4f0b-a12a-87138c2d9e49","block_type":"box","text":"43,863,770","page_number":48,"box":{"x":62,"y":344,"width":58,"height":7}},{"id":"3d991d19-fae8-4318-93b6-270de3008258","block_type":"box","text":"Royal London Sterling Liquidity Money","page_number":48,"box":{"x":129,"y":344,"width":200,"height":8}},{"id":"2cf23add-c370-49f1-8fb9-54ca34f22159","block_type":"box","text":"Market Fund R Inc","page_number":48,"box":{"x":129,"y":354,"width":96,"height":6}},{"id":"cb4343e1-13cb-409d-9430-88701fbbc9fe","block_type":"box","text":"†","page_number":48,"box":{"x":225,"y":354,"width":3,"height":4}},{"id":"c321433a-fe9c-457f-bfad-eaf41cb716d1","block_type":"box","text":"43,864","page_number":48,"box":{"x":364,"y":354,"width":35,"height":7}},{"id":"344c4f3b-2a93-454b-9113-b637920e79fe","block_type":"box","text":"5.20","page_number":48,"box":{"x":450,"y":354,"width":22,"height":6}},{"id":"6cc5cb3a-4cc3-4839-8f5c-d8a75d6a7184","block_type":"box","text":"35,364,874","page_number":48,"box":{"x":63,"y":363,"width":57,"height":7}},{"id":"d867cfaa-2f52-41ce-8364-f4d137fe4f47","block_type":"box","text":"Royal London UK Government Bond Fund","page_number":48,"box":{"x":129,"y":363,"width":219,"height":8}},{"id":"cf47697e-5ee9-4041-9133-5f209cf2fa0c","block_type":"box","text":"R Acc","page_number":48,"box":{"x":129,"y":373,"width":30,"height":6}},{"id":"0718eefe-dd0e-4a22-8389-59d40750ce7d","block_type":"box","text":"†","page_number":48,"box":{"x":159,"y":373,"width":3,"height":4}},{"id":"ec513758-63db-4d2b-96da-5126f0599d2b","block_type":"box","text":"33,960","page_number":48,"box":{"x":364,"y":373,"width":35,"height":7}},{"id":"ff5d9900-8525-44ae-987e-215d2f4f5431","block_type":"box","text":"4.02","page_number":48,"box":{"x":450,"y":373,"width":22,"height":6}},{"id":"33d72228-0f01-4c6a-8733-eb65300ffa5d","block_type":"box","text":"Total Bond Collective Investment Schemes","page_number":48,"box":{"x":57,"y":389,"width":239,"height":6}},{"id":"beec0a08-2a95-44d8-bebd-f183dc2ee237","block_type":"box","text":"170,680","page_number":48,"box":{"x":358,"y":389,"width":41,"height":7}},{"id":"54028ae9-cee6-4594-b1d3-3f3b7bbfe9fe","block_type":"box","text":"20.21","page_number":48,"box":{"x":443,"y":389,"width":27,"height":6}},{"id":"6c57e731-710b-406f-a7db-889bbe64dae5","block_type":"box","text":"Equity Collective Investment Schemes – 72.49% (31/12/25 – 66.97%)","page_number":48,"box":{"x":58,"y":405,"width":386,"height":8}},{"id":"bde5bb0e-2a2a-46ac-b134-caaf53650d35","block_type":"box","text":"5,888,241","page_number":48,"box":{"x":69,"y":415,"width":50,"height":7}},{"id":"aa259359-92e5-4b4b-9fd1-b0d043f14f1c","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt","page_number":48,"box":{"x":129,"y":414,"width":204,"height":8}},{"id":"b791b192-04ee-4d4f-ae63-c1ed4222212e","block_type":"box","text":"Fund R Acc","page_number":48,"box":{"x":129,"y":424,"width":60,"height":6}},{"id":"62fe9200-ea4e-4dd0-87b7-2bdf8ee472d4","block_type":"box","text":"†","page_number":48,"box":{"x":189,"y":424,"width":3,"height":4}},{"id":"7c53d9dd-5a74-4e65-8a40-340615abea57","block_type":"box","text":"17,636","page_number":48,"box":{"x":365,"y":424,"width":34,"height":7}},{"id":"9651c465-330d-43c7-ad5d-a23b5ce1a978","block_type":"box","text":"2.09","page_number":48,"box":{"x":450,"y":424,"width":22,"height":6}},{"id":"1d1fa392-34e5-4db6-9bca-f3e2786ab2e0","block_type":"box","text":"34,444,832","page_number":48,"box":{"x":63,"y":434,"width":57,"height":7}},{"id":"6ca631b4-9c64-47e9-940b-1d2e6e13d893","block_type":"box","text":"Royal London Emerging Markets Equity","page_number":48,"box":{"x":129,"y":434,"width":206,"height":7}},{"id":"705f55d4-0c4a-4da2-9e2c-fd3218a699ee","block_type":"box","text":"Tilt Fund R Acc","page_number":48,"box":{"x":128,"y":443,"width":79,"height":6}},{"id":"1a1b66a7-1344-4658-8112-9c0a279164c4","block_type":"box","text":"†","page_number":48,"box":{"x":208,"y":443,"width":3,"height":4}},{"id":"05204cda-1b5c-4c2c-8952-1029257bb05b","block_type":"box","text":"71,621","page_number":48,"box":{"x":364,"y":443,"width":33,"height":7}},{"id":"43b5e217-4b77-4b36-98d5-48dc25992b3f","block_type":"box","text":"8.48","page_number":48,"box":{"x":450,"y":443,"width":22,"height":6}},{"id":"bc6aa13c-d8ff-4dab-b458-ac04ef7e6bce","block_type":"box","text":"9,668,804","page_number":48,"box":{"x":69,"y":453,"width":51,"height":7}},{"id":"88a3affe-923e-486b-9182-2e832dd3afcc","block_type":"box","text":"Royal London Europe ex UK Equity Tilt","page_number":48,"box":{"x":129,"y":453,"width":202,"height":7}},{"id":"7efb948e-7726-4c05-8cfb-5b245c5c9f54","block_type":"box","text":"Fund R Acc","page_number":48,"box":{"x":129,"y":462,"width":60,"height":6}},{"id":"5c29616c-23da-4940-a305-62daecdd6bf0","block_type":"box","text":"†","page_number":48,"box":{"x":189,"y":462,"width":3,"height":4}},{"id":"2774e8ae-b6d9-4b5b-9764-11af5ef2ca20","block_type":"box","text":"21,819","page_number":48,"box":{"x":364,"y":462,"width":35,"height":7}},{"id":"5becce7c-2c0d-49b4-82b0-854fba89bd50","block_type":"box","text":"2.58","page_number":48,"box":{"x":450,"y":462,"width":22,"height":6}},{"id":"d51d6c69-c993-4698-9a87-ed13546fb0dd","block_type":"box","text":"28,266,165","page_number":48,"box":{"x":62,"y":472,"width":58,"height":7}},{"id":"133a50e1-2592-4140-ad73-4086fd3effa2","block_type":"box","text":"Royal London Global Equity Diversified","page_number":48,"box":{"x":129,"y":471,"width":202,"height":8}},{"id":"0887d422-6fd0-4f16-91ff-fc5a1d460bbd","block_type":"box","text":"Fund R Acc","page_number":48,"box":{"x":129,"y":481,"width":60,"height":6}},{"id":"06942b68-397c-440f-ab56-744f1b424e79","block_type":"box","text":"†","page_number":48,"box":{"x":189,"y":481,"width":3,"height":4}},{"id":"8b749f70-c123-40d7-86db-0e69d89739bd","block_type":"box","text":"84,332","page_number":48,"box":{"x":364,"y":481,"width":35,"height":7}},{"id":"37d6f7fe-de9e-4ad9-a165-07545e15bf94","block_type":"box","text":"9.99","page_number":48,"box":{"x":450,"y":481,"width":22,"height":6}},{"id":"249d4e7a-50cd-43e8-ae35-251bea2f8b3a","block_type":"box","text":"47,900,383","page_number":48,"box":{"x":62,"y":491,"width":58,"height":7}},{"id":"5b09df2d-0454-4066-8270-13748cfa2ac1","block_type":"box","text":"Royal London Global Equity Enhanced","page_number":48,"box":{"x":129,"y":490,"width":200,"height":8}},{"id":"16ee6af7-6579-4c5e-b8e6-eaa0ff4b148e","block_type":"box","text":"Fund R Acc","page_number":48,"box":{"x":129,"y":500,"width":60,"height":6}},{"id":"d9dd8a05-76a4-4dc9-aef7-39fbfaabeb70","block_type":"box","text":"†","page_number":48,"box":{"x":189,"y":500,"width":3,"height":4}},{"id":"db6610f1-2680-4fb8-b1b6-342def69bb64","block_type":"box","text":"83,706","page_number":48,"box":{"x":364,"y":500,"width":35,"height":7}},{"id":"f6f0094e-e475-4c64-b9e0-09724a676b32","block_type":"box","text":"9.91","page_number":48,"box":{"x":450,"y":500,"width":20,"height":6}},{"id":"47c54df8-e679-41c5-a2e4-0264866b7989","block_type":"box","text":"25,377,910","page_number":48,"box":{"x":62,"y":510,"width":58,"height":7}},{"id":"66c168e6-5034-49e5-8788-398ae4da90eb","block_type":"box","text":"Royal London Global Equity Tilt R Acc","page_number":48,"box":{"x":129,"y":509,"width":197,"height":8}},{"id":"c79e571c-6042-479a-a257-4b116c51b99f","block_type":"box","text":"†","page_number":48,"box":{"x":326,"y":510,"width":4,"height":4}},{"id":"52f49b2f-56d1-40fb-9dab-0ce2d8d4dd80","block_type":"box","text":"28,347","page_number":48,"box":{"x":364,"y":510,"width":35,"height":7}},{"id":"03acd571-15e5-4e34-af23-2982a82c4add","block_type":"box","text":"3.36","page_number":48,"box":{"x":450,"y":510,"width":22,"height":6}},{"id":"b279203a-24d3-408f-a1b6-6084c9b13419","block_type":"box","text":"6,191,526","page_number":48,"box":{"x":69,"y":519,"width":51,"height":7}},{"id":"dbba3a65-3440-455c-90d9-85bd379b5fad","block_type":"box","text":"Royal London Japan Equity Tilt Fund","page_number":48,"box":{"x":129,"y":519,"width":190,"height":8}},{"id":"37bc3fc2-4baa-4408-b00c-c111539082b1","block_type":"box","text":"R Acc","page_number":48,"box":{"x":129,"y":529,"width":30,"height":6}},{"id":"dc53c2e6-57dc-479f-a3d2-f63c01979c1d","block_type":"box","text":"†","page_number":48,"box":{"x":159,"y":529,"width":3,"height":4}},{"id":"46762e65-9069-4a6c-8ac0-418f8064cf8d","block_type":"box","text":"11,495","page_number":48,"box":{"x":366,"y":529,"width":33,"height":7}},{"id":"de7d3dee-5ae6-465e-8886-baebd03ce85f","block_type":"box","text":"1.36","page_number":48,"box":{"x":451,"y":529,"width":21,"height":6}},{"id":"46c51901-96ac-4f0c-9d49-e8e263d93351","block_type":"box","text":"702,697","page_number":48,"box":{"x":79,"y":538,"width":41,"height":7}},{"id":"415fbdff-618d-4190-acee-cf1f87aad9df","block_type":"box","text":"Royal London PAIF A Acc","page_number":48,"box":{"x":129,"y":538,"width":132,"height":8}},{"id":"c895fa4a-e914-4fa8-83d1-61d8ce2167c0","block_type":"box","text":"†","page_number":48,"box":{"x":261,"y":538,"width":4,"height":4}},{"id":"8ad81164-74d0-468f-a99f-2d051f1207f4","block_type":"box","text":"6,192","page_number":48,"box":{"x":371,"y":538,"width":28,"height":7}},{"id":"3c986950-8605-42c2-a241-71bda8080b64","block_type":"box","text":"0.73","page_number":48,"box":{"x":450,"y":538,"width":22,"height":6}},{"id":"1f7dd400-a11f-4eab-adfe-7b6e70a7ff45","block_type":"box","text":"7,529,263","page_number":48,"box":{"x":69,"y":548,"width":51,"height":7}},{"id":"5e5ffca5-2299-4567-9ce2-493c1aa71498","block_type":"box","text":"Royal London Property Trust A Acc","page_number":48,"box":{"x":129,"y":548,"width":181,"height":7}},{"id":"11b85a95-6af3-446d-a41f-0c6ee51f3b75","block_type":"box","text":"†","page_number":48,"box":{"x":310,"y":548,"width":3,"height":4}},{"id":"c438ed10-1004-4bf0-8bb2-2d4caf7c904e","block_type":"box","text":"66,347","page_number":48,"box":{"x":364,"y":548,"width":35,"height":7}},{"id":"4cae037f-5725-4255-bb8a-270ab5388a7f","block_type":"box","text":"7.86","page_number":48,"box":{"x":450,"y":548,"width":22,"height":6}},{"id":"e3038628-9a6a-4ba1-b59e-85fe31fb61cb","block_type":"box","text":"72,570,696","page_number":48,"box":{"x":63,"y":557,"width":57,"height":7}},{"id":"37363df8-f19b-4abf-ad70-de5471e6399b","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund","page_number":48,"box":{"x":129,"y":557,"width":209,"height":8}},{"id":"92aad37b-7300-4b4b-a385-8fdb95c83e85","block_type":"box","text":"R Acc","page_number":48,"box":{"x":129,"y":567,"width":30,"height":6}},{"id":"4ba4ad19-b8c9-4954-97aa-0eb71a7f6bb3","block_type":"box","text":"†","page_number":48,"box":{"x":159,"y":567,"width":3,"height":4}},{"id":"d2c8234e-4ea2-4e98-8a62-1c1e1cb491e4","block_type":"box","text":"118,196","page_number":48,"box":{"x":359,"y":567,"width":40,"height":7}},{"id":"acfe09f3-d20a-4d81-ab9f-863735c4dec5","block_type":"box","text":"14.00","page_number":48,"box":{"x":444,"y":567,"width":28,"height":6}},{"id":"c133136f-1a41-4db8-bc65-917210a3cefa","block_type":"box","text":"36,279,185","page_number":48,"box":{"x":63,"y":576,"width":57,"height":7}},{"id":"72a9bab4-b1be-4589-9b36-be6299d40110","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":48,"box":{"x":129,"y":576,"width":209,"height":8}},{"id":"55085ef6-556d-4297-88b0-21965b268976","block_type":"box","text":"†","page_number":48,"box":{"x":339,"y":576,"width":3,"height":4}},{"id":"0c1b6e12-02ee-4443-8d66-0f8cbf1c7338","block_type":"box","text":"102,391","page_number":48,"box":{"x":358,"y":576,"width":39,"height":7}},{"id":"d0c5b8a1-00d1-4402-8dd7-a4071f3e3324","block_type":"box","text":"12.13","page_number":48,"box":{"x":444,"y":576,"width":28,"height":6}},{"id":"110c647a-28b6-46f5-944a-59ad1d9b6980","block_type":"box","text":"Total Equity Collective Investment Schemes","page_number":48,"box":{"x":57,"y":592,"width":245,"height":8}},{"id":"2252c714-f192-4bd8-8962-6e99d07e864a","block_type":"box","text":"612,082","page_number":48,"box":{"x":357,"y":592,"width":42,"height":8}},{"id":"cd0ed55a-cf85-47f2-a4ca-62c1c964b9e3","block_type":"box","text":"72.49","page_number":48,"box":{"x":443,"y":592,"width":29,"height":6}},{"id":"cbc8c391-6383-44f8-b04e-157ee5abddc9","block_type":"box","text":"Exchange Traded Commodities – 0.00% (31/12/25 – 1.00%)","page_number":48,"box":{"x":58,"y":618,"width":330,"height":8}},{"id":"c9170d47-fb3a-4feb-8fc4-fa01bdaaa4ae","block_type":"box","text":"Exchange Traded Funds – 5.48% (31/12/25 – 5.74%)","page_number":48,"box":{"x":58,"y":637,"width":288,"height":8}},{"id":"1f5b7f7c-3d08-4cd1-a5ed-54291a904dda","block_type":"box","text":"1,547,066","page_number":48,"box":{"x":70,"y":647,"width":50,"height":7}},{"id":"c82b4bea-f6c5-413a-bc4b-da9d7d7c3890","block_type":"box","text":"Invesco Bloomberg Commodity Carbon","page_number":48,"box":{"x":129,"y":646,"width":203,"height":8}},{"id":"faf3c069-48ba-437e-8ee7-b5c20ac7c434","block_type":"box","text":"Tilted UCITS ETF","page_number":48,"box":{"x":128,"y":656,"width":92,"height":6}},{"id":"c833b901-d634-4827-bb9b-6846a26712c2","block_type":"box","text":"8,209","page_number":48,"box":{"x":371,"y":656,"width":28,"height":7}},{"id":"4ec5a90b-be23-42a0-a444-00f1b153481c","block_type":"box","text":"0.97","page_number":48,"box":{"x":450,"y":656,"width":22,"height":6}},{"id":"7238c4f0-13c8-4c42-b78c-ea9cd4c35471","block_type":"box","text":"1,461,057","page_number":48,"box":{"x":70,"y":666,"width":50,"height":7}},{"id":"035bdd00-f3a4-43f7-92bc-6b410e2ec457","block_type":"box","text":"iShares Bloomberg Roll Select Commodity","page_number":48,"box":{"x":129,"y":665,"width":221,"height":8}},{"id":"22b6287c-266e-46d0-9fc9-83f3943f97d7","block_type":"box","text":"Swap UCITS ETF","page_number":48,"box":{"x":129,"y":675,"width":92,"height":8}},{"id":"b46e367a-0368-4ee0-b5b4-91fe9c060d10","block_type":"box","text":"11,027","page_number":48,"box":{"x":366,"y":675,"width":33,"height":7}},{"id":"3da042ea-70fa-41c4-b030-f84d65a058d9","block_type":"box","text":"1.31","page_number":48,"box":{"x":451,"y":675,"width":19,"height":6}},{"id":"7f7528a4-be02-4856-a684-17353c7669ce","block_type":"box","text":"25,234","page_number":48,"box":{"x":85,"y":685,"width":35,"height":7}},{"id":"d5d8b38a-8931-4165-a4f1-b36d6df4122a","block_type":"box","text":"iShares MSCI Canada UCITS ETF","page_number":48,"box":{"x":129,"y":684,"width":180,"height":7}},{"id":"4a83a0b3-7232-4afc-8fc6-af30de7376b0","block_type":"box","text":"5,683","page_number":48,"box":{"x":371,"y":685,"width":28,"height":7}},{"id":"69dd049a-7400-4317-8ba6-bdc975e63b26","block_type":"box","text":"0.67","page_number":48,"box":{"x":450,"y":685,"width":22,"height":6}},{"id":"b103e0ce-0b24-4ced-9616-781e8c6c28f2","block_type":"box","text":"660,400","page_number":48,"box":{"x":79,"y":694,"width":41,"height":7}},{"id":"50f811ec-32d5-4276-b2da-30c91daf9296","block_type":"box","text":"UBS (IRL) Fund Solutions – UCITS ETF","page_number":48,"box":{"x":129,"y":694,"width":208,"height":8}},{"id":"cebb6d8a-cb57-457e-a7af-0074a1ba6f67","block_type":"box","text":"B Acc","page_number":48,"box":{"x":129,"y":704,"width":29,"height":6}},{"id":"cc218d30-da05-41b5-a9df-3b51e53c9015","block_type":"box","text":"10,429","page_number":48,"box":{"x":365,"y":704,"width":34,"height":7}},{"id":"541c0027-1fb9-40f7-94aa-1109d68d4377","block_type":"box","text":"1.24","page_number":48,"box":{"x":451,"y":704,"width":21,"height":6}},{"id":"1d9167e1-0a98-4cb3-831a-c61649c27eee","block_type":"box","text":"725,117","page_number":48,"box":{"x":80,"y":713,"width":40,"height":7}},{"id":"1a063439-3ed3-479d-abf8-95bdc9dbcbfc","block_type":"box","text":"Wisdomtree Enhanced C ETF","page_number":48,"box":{"x":128,"y":713,"width":156,"height":6}},{"id":"e0dbc912-c0a2-49dc-b1c4-0e60223fc5c4","block_type":"box","text":"10,931","page_number":48,"box":{"x":365,"y":713,"width":32,"height":7}},{"id":"e50ffd85-7802-4fb9-a91b-d8be617aec9b","block_type":"box","text":"1.29","page_number":48,"box":{"x":451,"y":713,"width":21,"height":6}},{"id":"8fb35806-e1e8-48bb-a193-e3bd72ad5469","block_type":"box","text":"Total Exchange Traded Funds","page_number":48,"box":{"x":57,"y":729,"width":165,"height":8}},{"id":"74a3845b-6d66-4d20-8411-08a18c69e0f2","block_type":"box","text":"46,279","page_number":48,"box":{"x":364,"y":729,"width":35,"height":8}},{"id":"b8e3cd44-58ba-4eb0-9369-0b1a95391b5d","block_type":"box","text":"5.48","page_number":48,"box":{"x":450,"y":729,"width":22,"height":6}},{"id":"66544e79-9ad4-4bc8-9479-479d07e39d4b","block_type":"box","text":"Forward Currency Contracts – 0.05% (31/12/25 – (0.07)%)","page_number":48,"box":{"x":58,"y":745,"width":322,"height":8}},{"id":"904c9f06-6ba8-4448-9b66-bd137d8c92b6","block_type":"box","text":"Buy AUD4,970,599 & Sell £2,635,087*","page_number":48,"box":{"x":129,"y":755,"width":199,"height":8}},{"id":"24412c50-8321-46f1-bf67-7234b1923c75","block_type":"box","text":"(41)","page_number":48,"box":{"x":383,"y":755,"width":20,"height":8}},{"id":"a8cdbb7f-f5d4-4da6-8bf4-d7f5ba9abc52","block_type":"box","text":"–","page_number":48,"box":{"x":466,"y":759,"width":6,"height":0}},{"id":"b5b62e06-d06b-412f-a1f9-5da9701fac1a","block_type":"box","text":"Buy €682,776 & Sell £591,059*","page_number":48,"box":{"x":129,"y":764,"width":162,"height":8}},{"id":"eb461e92-70e7-4fa8-abf9-5deed0a33417","block_type":"box","text":"(3)","page_number":48,"box":{"x":390,"y":764,"width":13,"height":8}},{"id":"b0a3024b-a0a3-4c25-a4b2-2a8a26e499ee","block_type":"box","text":"–","page_number":48,"box":{"x":466,"y":768,"width":6,"height":1}},{"id":"32c2978e-5672-46f1-a82e-cafa816adf49","block_type":"box","text":"Buy £5,059,535 & Sell AUD9,610,988*","page_number":48,"box":{"x":129,"y":774,"width":199,"height":8}},{"id":"d79bbdf8-746c-4795-bf58-84324a73b51c","block_type":"box","text":"44","page_number":48,"box":{"x":387,"y":774,"width":12,"height":6}},{"id":"85066d62-605c-4ce3-9872-2ff0461bbab7","block_type":"box","text":"–","page_number":48,"box":{"x":466,"y":778,"width":6,"height":0}},{"id":"0fa6e3e8-2e22-4760-85d4-3001495d148b","block_type":"box","text":"Buy £5,842 & Sell CAD10,964*","page_number":48,"box":{"x":129,"y":783,"width":161,"height":8}},{"id":"bd5fc4c7-8d04-4b7a-a06e-ec5649718be3","block_type":"box","text":"+","page_number":48,"box":{"x":291,"y":784,"width":3,"height":2}},{"id":"3bb6b7d7-0c6c-40c3-95b6-767013c1fcaf","block_type":"box","text":"–","page_number":48,"box":{"x":393,"y":787,"width":6,"height":1}},{"id":"36051800-28ae-4ff3-9137-657a649b4ffc","block_type":"box","text":"–","page_number":48,"box":{"x":466,"y":787,"width":6,"height":1}},{"id":"41e9c196-ac5d-4a30-b24f-0b4e90db3806","block_type":"box","text":"Buy £2,177,031 & Sell CHF2,314,927*","page_number":48,"box":{"x":129,"y":793,"width":199,"height":8}},{"id":"8531d634-baf6-46eb-9e83-5bae574ecee5","block_type":"box","text":"11","page_number":48,"box":{"x":389,"y":793,"width":8,"height":6}},{"id":"9348d6a1-965d-4690-b8e7-29d4cdd32cc8","block_type":"box","text":"–","page_number":48,"box":{"x":466,"y":797,"width":6,"height":0}},{"id":"fcb518de-8ee0-420f-97c2-97b53074df25","block_type":"box","text":"Buy £3,145,133 & Sell SEK39,595,965*","page_number":48,"box":{"x":129,"y":802,"width":205,"height":8}},{"id":"ff379d9a-b0ef-4583-ae31-31f50fe105cd","block_type":"box","text":"60","page_number":48,"box":{"x":387,"y":803,"width":12,"height":6}},{"id":"9631f204-80c4-4194-820e-7c4aacbcda63","block_type":"box","text":"0.01","page_number":48,"box":{"x":450,"y":803,"width":20,"height":6}},{"id":"873b1522-54af-4691-a144-a6e632dd9f17","block_type":"box","text":"Buy £266,208 & Sell $352,247*","page_number":48,"box":{"x":129,"y":812,"width":162,"height":8}},{"id":"0ae8a741-383e-4674-bf47-b1741d3ebcaf","block_type":"box","text":"1","page_number":48,"box":{"x":394,"y":812,"width":3,"height":6}},{"id":"6d777f53-f181-499b-8ba6-ce64ce01fc9e","block_type":"box","text":"–","page_number":48,"box":{"x":466,"y":816,"width":6,"height":0}},{"id":"dd132bb1-9f35-4874-873f-06304fd614da","block_type":"box","text":"Buy £3,398,371 & Sell NOK43,471,297*","page_number":48,"box":{"x":129,"y":821,"width":207,"height":8}},{"id":"64ba1cc7-fd40-4cc6-b088-7c3cb159f268","block_type":"box","text":"89","page_number":48,"box":{"x":387,"y":822,"width":12,"height":6}},{"id":"83c946a0-2d15-47c9-9ac2-afd707203578","block_type":"box","text":"0.01","page_number":48,"box":{"x":450,"y":822,"width":20,"height":6}},{"id":"3ed3a98b-527c-4117-be4c-94d1e9c4878b","block_type":"box","text":"Buy £3,527,207 & Sell €4,066,571*","page_number":48,"box":{"x":129,"y":831,"width":182,"height":8}},{"id":"841860e2-1166-4f48-beaa-51bbd18b0b0a","block_type":"box","text":"22","page_number":48,"box":{"x":387,"y":831,"width":12,"height":6}},{"id":"2f97df47-e964-4f30-9a0d-a4e574cd565d","block_type":"box","text":"–","page_number":48,"box":{"x":466,"y":835,"width":6,"height":0}},{"id":"97836788-2540-4a29-ae63-9d0596849e9b","block_type":"box","text":"Buy JPY468,292,901 & Sell £2,181,805*","page_number":48,"box":{"x":129,"y":840,"width":210,"height":8}},{"id":"527e5369-1ac6-4d2a-a533-efd69c70f4d4","block_type":"box","text":"(8)","page_number":48,"box":{"x":390,"y":840,"width":13,"height":8}},{"id":"eb26903d-5356-409c-9d44-ea9833db44e4","block_type":"box","text":"–","page_number":48,"box":{"x":466,"y":844,"width":6,"height":1}},{"id":"f0ed7cd8-708d-4bec-ac84-4c3b93dcbc2c","block_type":"box","text":"Buy SEK19,348,256 & Sell £1,530,971*","page_number":48,"box":{"x":129,"y":850,"width":205,"height":8}},{"id":"5c0a1caa-ed97-4db2-bc36-8edf894f561b","block_type":"box","text":"(23)","page_number":48,"box":{"x":383,"y":850,"width":20,"height":8}},{"id":"f79417f9-0375-4fd9-89f4-7ce5d70f2d62","block_type":"box","text":"–","page_number":48,"box":{"x":466,"y":854,"width":6,"height":0}},{"id":"c7d7fe19-839e-4b29-9b59-90ba73e58881","block_type":"box","text":"Buy SGD3,475,451 & Sell £2,024,762*","page_number":48,"box":{"x":129,"y":859,"width":201,"height":8}},{"id":"f76f6825-8e86-4783-ac72-46d05c1d9cc1","block_type":"box","text":"2","page_number":48,"box":{"x":393,"y":860,"width":6,"height":6}},{"id":"72544ef9-2a75-40af-8ba9-cbe38b8db9cc","block_type":"box","text":"–","page_number":48,"box":{"x":466,"y":863,"width":6,"height":1}},{"id":"653eb0a8-353a-4cc2-95fd-afa190d6cc17","block_type":"box","text":"Buy $29,320,305 & Sell £21,851,904*","page_number":48,"box":{"x":129,"y":869,"width":195,"height":8}},{"id":"db43f8b4-8238-4562-a73a-9d5b5ab331f8","block_type":"box","text":"239","page_number":48,"box":{"x":380,"y":869,"width":19,"height":6}},{"id":"3e81d5be-b770-4fc9-910f-821ce577b416","block_type":"box","text":"0.03","page_number":48,"box":{"x":450,"y":869,"width":22,"height":6}},{"id":"57fc0e92-eb5e-4406-b532-0d814f4dd660","block_type":"box","text":"Total Forward Currency Contracts","page_number":48,"box":{"x":57,"y":885,"width":189,"height":8}},{"id":"6d15f6c3-50a3-498d-803b-75e746635de6","block_type":"box","text":"393","page_number":48,"box":{"x":380,"y":885,"width":19,"height":6}},{"id":"ee58577c-925d-4860-bac7-b6fee71cd146","block_type":"box","text":"0.05","page_number":48,"box":{"x":450,"y":885,"width":22,"height":6}},{"id":"30da3bdd-82d9-4dd7-9282-de918942efc2","block_type":"box","text":"Holding","page_number":48,"box":{"x":58,"y":177,"width":43,"height":8}},{"id":"adc08ad5-7911-4c86-938c-deecaa91525a","block_type":"box","text":"Investment","page_number":48,"box":{"x":129,"y":177,"width":63,"height":6}},{"id":"18fb61dc-0dcf-4c4d-8264-d840f3a434ee","block_type":"box","text":"Mid-market","page_number":48,"box":{"x":337,"y":158,"width":65,"height":6}},{"id":"be92e559-1060-4c79-9382-6351e075c4d8","block_type":"box","text":"value","page_number":48,"box":{"x":371,"y":168,"width":30,"height":6}},{"id":"c8aaf967-6389-499b-834b-3fa67002f872","block_type":"box","text":"(£’000)","page_number":48,"box":{"x":364,"y":177,"width":37,"height":8}},{"id":"ca649e9b-d298-45c5-8758-01a2d644e8d6","block_type":"box","text":"Total net","page_number":48,"box":{"x":424,"y":168,"width":49,"height":6}},{"id":"0ec73800-e0a9-4994-a91e-deb4f9fa167d","block_type":"box","text":"assets (%)","page_number":48,"box":{"x":414,"y":177,"width":59,"height":8}},{"id":"b46d17fc-3ff5-44c8-ae8a-64adad77f71e","block_type":"box","text":"Holding","page_number":48,"box":{"x":522,"y":177,"width":43,"height":8}},{"id":"5db7ce67-ee46-427d-8c18-1f5280f644d8","block_type":"box","text":"Investment","page_number":48,"box":{"x":593,"y":177,"width":63,"height":6}},{"id":"06a316ee-a597-4dff-bdb1-2cbe2a9f099f","block_type":"box","text":"Mid-market","page_number":48,"box":{"x":802,"y":158,"width":64,"height":6}},{"id":"7b424d59-dcff-4d96-bcb0-cf8a8b7fffb6","block_type":"box","text":"value","page_number":48,"box":{"x":835,"y":168,"width":31,"height":6}},{"id":"2cee908b-606f-40fd-954d-decda92318a8","block_type":"box","text":"(£’000)","page_number":48,"box":{"x":828,"y":177,"width":38,"height":8}},{"id":"538e623a-0291-4587-8c88-b60f23e10a2d","block_type":"box","text":"Total net","page_number":48,"box":{"x":888,"y":168,"width":49,"height":6}},{"id":"73c2cb1f-f206-4585-8a36-8c59634ced9d","block_type":"box","text":"assets (%)","page_number":48,"box":{"x":879,"y":177,"width":58,"height":8}},{"id":"800ab2b5-cd13-4d56-8adb-af511454a95a","block_type":"box","text":"Futures – 0.06% (31/12/25 – 0.04%)","page_number":48,"box":{"x":522,"y":202,"width":194,"height":7}},{"id":"37c8091e-4909-47b0-8871-9b0a13b09440","block_type":"box","text":"(685)","page_number":48,"box":{"x":558,"y":211,"width":27,"height":8}},{"id":"17e4a06f-4e41-4b56-b577-526ae77fb80e","block_type":"box","text":"CBT Bcom Commodity Index Future","page_number":48,"box":{"x":593,"y":211,"width":188,"height":8}},{"id":"f49313d5-f8cd-4a1c-8e0a-457b6006427d","block_type":"box","text":"September 2026","page_number":48,"box":{"x":593,"y":221,"width":86,"height":7}},{"id":"ca3ad021-fcd4-4311-95f3-840931ce2f82","block_type":"box","text":"169","page_number":48,"box":{"x":845,"y":221,"width":18,"height":6}},{"id":"98574186-d52f-48de-a89f-2cab6c91e95c","block_type":"box","text":"0.02","page_number":48,"box":{"x":914,"y":221,"width":22,"height":6}},{"id":"fb47f20d-2f74-4850-aa8f-a8c97da423e2","block_type":"box","text":"(57)","page_number":48,"box":{"x":565,"y":230,"width":20,"height":8}},{"id":"0c262395-61a6-4ae4-87b1-0615dff339ec","block_type":"box","text":"CBT US 10Year Note Future September 2026","page_number":48,"box":{"x":593,"y":230,"width":237,"height":8}},{"id":"3c106bff-d5d5-421a-9267-3ef1c1d14065","block_type":"box","text":"(17)","page_number":48,"box":{"x":848,"y":230,"width":19,"height":8}},{"id":"be9d4ccc-2dcf-424d-8fab-64d5a13d3fbc","block_type":"box","text":"–","page_number":48,"box":{"x":930,"y":234,"width":7,"height":0}},{"id":"7f767a32-2e80-475b-a0fd-935281a4f760","block_type":"box","text":"(51)","page_number":48,"box":{"x":565,"y":240,"width":20,"height":7}},{"id":"1a7de422-62a0-44d9-99be-165198b05fb1","block_type":"box","text":"CME S&P500 E-Mini Consumer Services","page_number":48,"box":{"x":593,"y":240,"width":214,"height":6}},{"id":"08abd20e-7e67-4ee2-ba30-a2841021d0ce","block_type":"box","text":"September 2026","page_number":48,"box":{"x":593,"y":249,"width":86,"height":8}},{"id":"7dd0d15e-5a90-4372-bfb6-e1393dfc9441","block_type":"box","text":"121","page_number":48,"box":{"x":845,"y":249,"width":17,"height":6}},{"id":"317c2184-542d-46b1-b156-cb17278e7cb3","block_type":"box","text":"0.02","page_number":48,"box":{"x":914,"y":249,"width":22,"height":6}},{"id":"c7f7047e-afba-4909-96f8-9bc81b5026d0","block_type":"box","text":"85","page_number":48,"box":{"x":573,"y":259,"width":12,"height":6}},{"id":"d86aa465-985e-4b83-93dd-74c2a9529c12","block_type":"box","text":"CME S&P500 E-Mini Future September 2026","page_number":48,"box":{"x":593,"y":259,"width":235,"height":7}},{"id":"547feeca-2514-4b6b-bcff-7c77b8660a80","block_type":"box","text":"154","page_number":48,"box":{"x":845,"y":259,"width":18,"height":6}},{"id":"0ba68723-6638-4d0f-9af4-fd6abb5ec691","block_type":"box","text":"0.02","page_number":48,"box":{"x":914,"y":259,"width":22,"height":6}},{"id":"cc01af20-0164-4fcb-b49a-0ee6ea39468e","block_type":"box","text":"(12)","page_number":48,"box":{"x":565,"y":268,"width":20,"height":8}},{"id":"11efd821-65c3-44d7-b8ab-85af9d687c28","block_type":"box","text":"CME XAB Materials Future September 2026","page_number":48,"box":{"x":593,"y":268,"width":230,"height":8}},{"id":"57e64096-f6e4-4c87-9d5a-a476d54c29b9","block_type":"box","text":"6","page_number":48,"box":{"x":858,"y":268,"width":5,"height":6}},{"id":"32e31b80-218e-4f58-bc7f-7dd934d85a52","block_type":"box","text":"–","page_number":48,"box":{"x":930,"y":272,"width":7,"height":0}},{"id":"e197d999-ae53-4d4b-9d19-e83566eff446","block_type":"box","text":"(59)","page_number":48,"box":{"x":565,"y":278,"width":20,"height":7}},{"id":"f2228394-0f54-45da-864d-6dcdae8081db","block_type":"box","text":"CME XAE Energy Future September 2026","page_number":48,"box":{"x":593,"y":278,"width":220,"height":7}},{"id":"ce572d9b-7040-4bee-8452-bcdce46bcd0a","block_type":"box","text":"108","page_number":48,"box":{"x":845,"y":278,"width":18,"height":6}},{"id":"6ff12830-0b70-42b9-b228-3275c8f65870","block_type":"box","text":"0.01","page_number":48,"box":{"x":914,"y":278,"width":21,"height":6}},{"id":"b894ee49-a40b-4c7d-870b-05207f33f44e","block_type":"box","text":"12","page_number":48,"box":{"x":573,"y":287,"width":12,"height":6}},{"id":"f1d02928-cdb6-44a7-ad38-2d10e7b315c6","block_type":"box","text":"CME XAF Financial Future September 2026","page_number":48,"box":{"x":593,"y":287,"width":229,"height":8}},{"id":"8b55c195-9869-4aaf-bf12-b464eac69afe","block_type":"box","text":"4","page_number":48,"box":{"x":857,"y":287,"width":6,"height":6}},{"id":"7f5a68ca-4295-4e2a-b242-5088725b3f2c","block_type":"box","text":"–","page_number":48,"box":{"x":930,"y":291,"width":7,"height":0}},{"id":"9271d5e8-cd5c-42cb-8167-522db6f0e415","block_type":"box","text":"23","page_number":48,"box":{"x":572,"y":297,"width":13,"height":6}},{"id":"4ffbbced-3418-4692-842c-1a52be7d1ede","block_type":"box","text":"CME XAK Technology Future September 2026","page_number":48,"box":{"x":593,"y":297,"width":242,"height":7}},{"id":"8e92672b-1f0f-4155-9ff1-62ac896b82c0","block_type":"box","text":"(39)","page_number":48,"box":{"x":848,"y":297,"width":19,"height":7}},{"id":"0b61e458-027f-4e19-8f7e-5091fc65a0a6","block_type":"box","text":"–","page_number":48,"box":{"x":930,"y":300,"width":7,"height":1}},{"id":"28ff204f-e8fd-4a27-ae1a-4af133181605","block_type":"box","text":"16","page_number":48,"box":{"x":573,"y":306,"width":12,"height":6}},{"id":"c64a480b-3ef6-4906-accd-66eed133d9cf","block_type":"box","text":"CME XAP Consumer Staples Futures","page_number":48,"box":{"x":593,"y":306,"width":195,"height":8}},{"id":"53593a9f-b3ff-47b8-873a-a77149d4260e","block_type":"box","text":"September 2026","page_number":48,"box":{"x":593,"y":316,"width":86,"height":7}},{"id":"e6bcf676-6965-4824-959d-b66b2a0000b6","block_type":"box","text":"(18)","page_number":48,"box":{"x":848,"y":316,"width":19,"height":7}},{"id":"709fb4d4-4836-422d-9b51-d789e89ad038","block_type":"box","text":"–","page_number":48,"box":{"x":930,"y":319,"width":7,"height":1}},{"id":"f724300b-1522-4f83-a6a7-9b1035615c39","block_type":"box","text":"101","page_number":48,"box":{"x":567,"y":325,"width":16,"height":6}},{"id":"c9c285c6-e9af-483f-8474-9bc611bc3b23","block_type":"box","text":"CME XAU Utilities Future September 2026","page_number":48,"box":{"x":593,"y":325,"width":221,"height":8}},{"id":"a75b7fcd-8a9e-4880-8781-bbb9872d9370","block_type":"box","text":"(153)","page_number":48,"box":{"x":841,"y":325,"width":26,"height":8}},{"id":"3e13f5f6-2b43-4f27-9d3a-6776d656cd9d","block_type":"box","text":"(0.02)","page_number":48,"box":{"x":911,"y":325,"width":29,"height":8}},{"id":"70f8099f-9551-48ce-a60d-22838808a398","block_type":"box","text":"37","page_number":48,"box":{"x":573,"y":335,"width":12,"height":6}},{"id":"8c6d4465-70d8-4ac4-bea4-001feec663bc","block_type":"box","text":"CME XAV Health Care September 2026","page_number":48,"box":{"x":593,"y":335,"width":207,"height":7}},{"id":"480c2a68-ff91-4103-b9a8-0b3f077552b1","block_type":"box","text":"162","page_number":48,"box":{"x":845,"y":335,"width":18,"height":6}},{"id":"e50bd8d6-9ecf-4424-a86c-3da39d439e8d","block_type":"box","text":"0.02","page_number":48,"box":{"x":914,"y":335,"width":22,"height":6}},{"id":"90f5f6d2-b8d1-4b07-8e84-d3469a01e76c","block_type":"box","text":"(52)","page_number":48,"box":{"x":565,"y":344,"width":20,"height":8}},{"id":"5fe1aa80-3f54-4613-a5d9-966d13ce66e2","block_type":"box","text":"CME XAY Consumer Discretionary Future","page_number":48,"box":{"x":593,"y":344,"width":217,"height":8}},{"id":"a2ca0f28-803c-4d2e-9890-8c953a199462","block_type":"box","text":"September 2026","page_number":48,"box":{"x":593,"y":354,"width":86,"height":7}},{"id":"c510b509-d2e2-4fc6-8dce-a9fb37b4f4d2","block_type":"box","text":"(141)","page_number":48,"box":{"x":841,"y":354,"width":26,"height":7}},{"id":"2be873b3-12dd-4492-8f8b-fd10e1318cfd","block_type":"box","text":"(0.02)","page_number":48,"box":{"x":911,"y":354,"width":29,"height":7}},{"id":"97a08778-b91a-40a0-9f20-2a2a66bd57d0","block_type":"box","text":"222","page_number":48,"box":{"x":566,"y":363,"width":19,"height":6}},{"id":"8224f2ab-ab35-4efc-a0a3-99267c9ebe3c","block_type":"box","text":"EUX Euro Stoxx 50 Future September 2026","page_number":48,"box":{"x":593,"y":363,"width":228,"height":8}},{"id":"fce7abda-dedb-4d45-a309-7fe5e41f21af","block_type":"box","text":"185","page_number":48,"box":{"x":845,"y":363,"width":18,"height":6}},{"id":"bdef4957-a278-49a2-9371-af4ee84133e8","block_type":"box","text":"0.02","page_number":48,"box":{"x":914,"y":363,"width":22,"height":6}},{"id":"3d0c299b-5e33-466a-a674-e080e3182e28","block_type":"box","text":"(43)","page_number":48,"box":{"x":565,"y":373,"width":20,"height":7}},{"id":"f94d949d-a97d-40e0-b034-494302e272a1","block_type":"box","text":"EUX Euro-Bond Future September 2026","page_number":48,"box":{"x":593,"y":373,"width":210,"height":7}},{"id":"663bd89f-bfad-4b00-b731-91226c575a43","block_type":"box","text":"(50)","page_number":48,"box":{"x":848,"y":373,"width":19,"height":7}},{"id":"0a94384b-661c-4c86-9963-bd803f7dde9c","block_type":"box","text":"(0.01)","page_number":48,"box":{"x":911,"y":373,"width":29,"height":7}},{"id":"ac7de44a-70cf-490d-83a0-1763888b56fc","block_type":"box","text":"253","page_number":48,"box":{"x":566,"y":382,"width":19,"height":6}},{"id":"9dd03555-9463-42c6-98e1-6071e0d229a1","block_type":"box","text":"HKG Hang Seng Index Future September","page_number":48,"box":{"x":593,"y":382,"width":217,"height":8}},{"id":"ca28ccef-50bd-40ee-a5b1-8965da5be009","block_type":"box","text":"2026","page_number":48,"box":{"x":593,"y":392,"width":25,"height":6}},{"id":"7233ef93-56ea-4d68-9b52-e778f75afdd0","block_type":"box","text":"272","page_number":48,"box":{"x":845,"y":392,"width":18,"height":6}},{"id":"f73b7d08-89a7-4068-bd07-b6a75be4e46e","block_type":"box","text":"0.03","page_number":48,"box":{"x":914,"y":392,"width":22,"height":6}},{"id":"91b89814-225d-492e-b224-774744def480","block_type":"box","text":"(60)","page_number":48,"box":{"x":565,"y":401,"width":20,"height":8}},{"id":"72e8eaed-0cbb-4d3f-aed6-04960bc56981","block_type":"box","text":"ICF FTSE 100 Index Future September 2026","page_number":48,"box":{"x":593,"y":401,"width":233,"height":8}},{"id":"5d3ccd44-fa47-4bd7-8ba7-b7a4eb7e5594","block_type":"box","text":"(46)","page_number":48,"box":{"x":848,"y":401,"width":19,"height":8}},{"id":"79fda89a-6dbb-4522-80f7-b3ca03c9fa57","block_type":"box","text":"(0.01)","page_number":48,"box":{"x":911,"y":401,"width":29,"height":8}},{"id":"9c699e99-d10f-4ed6-b0b3-d9cf89d99692","block_type":"box","text":"(53)","page_number":48,"box":{"x":565,"y":411,"width":20,"height":7}},{"id":"21197777-0558-4382-badb-827a8a59500b","block_type":"box","text":"ICF Long Gilt Future September 2026","page_number":48,"box":{"x":593,"y":411,"width":196,"height":7}},{"id":"a85c0592-1aba-4b89-bcfa-8760fd391b44","block_type":"box","text":"(61)","page_number":48,"box":{"x":848,"y":411,"width":19,"height":7}},{"id":"f9e4e947-2940-4222-93b2-764bcac931b1","block_type":"box","text":"(0.01)","page_number":48,"box":{"x":911,"y":411,"width":29,"height":7}},{"id":"d973f1f3-0f19-4fcb-a0ab-7b8a3552521b","block_type":"box","text":"261","page_number":48,"box":{"x":566,"y":420,"width":17,"height":6}},{"id":"65239997-dfde-445b-b83c-e03332baa067","block_type":"box","text":"NYF MSCI Emerging Market Future","page_number":48,"box":{"x":593,"y":420,"width":185,"height":8}},{"id":"13b6b489-25ad-48f6-b257-b771d40dfdbb","block_type":"box","text":"September 2026","page_number":48,"box":{"x":593,"y":430,"width":86,"height":7}},{"id":"4dea45a4-e910-4c8b-9198-88b25026b5ca","block_type":"box","text":"(309)","page_number":48,"box":{"x":841,"y":430,"width":26,"height":7}},{"id":"2e9dd42d-aa9b-400e-b1cf-231bebbc5119","block_type":"box","text":"(0.04)","page_number":48,"box":{"x":911,"y":430,"width":29,"height":7}},{"id":"30d628f2-600a-495c-802c-95d79bc2b17c","block_type":"box","text":"(48)","page_number":48,"box":{"x":565,"y":439,"width":20,"height":8}},{"id":"eec5bd6c-4aab-43a0-8073-23d182216c60","block_type":"box","text":"OSE Nikkei 225 MINI September 2026","page_number":48,"box":{"x":593,"y":439,"width":200,"height":8}},{"id":"719fe447-7d89-4275-96e5-34c6f98e9cbf","block_type":"box","text":"(35)","page_number":48,"box":{"x":848,"y":439,"width":19,"height":8}},{"id":"a4c23aed-1d6c-4a70-917f-279537f14456","block_type":"box","text":"–","page_number":48,"box":{"x":930,"y":443,"width":7,"height":0}},{"id":"479a80ed-4f86-4592-83e1-8e861582b37f","block_type":"box","text":"46","page_number":48,"box":{"x":572,"y":449,"width":13,"height":6}},{"id":"803ae9f2-0df9-43ce-9f54-862deaaa618e","block_type":"box","text":"OSE Topix Index Future September 2026","page_number":48,"box":{"x":593,"y":449,"width":214,"height":7}},{"id":"ea3a9f7c-26f7-44c8-886d-df555fee90d5","block_type":"box","text":"70","page_number":48,"box":{"x":851,"y":449,"width":12,"height":6}},{"id":"262a6701-4d9f-413d-86a4-329a228dc418","block_type":"box","text":"0.01","page_number":48,"box":{"x":914,"y":449,"width":21,"height":6}},{"id":"4cd70a24-8fe5-434a-b11b-0acb3ae7b193","block_type":"box","text":"(117)","page_number":48,"box":{"x":559,"y":458,"width":26,"height":8}},{"id":"71ce2040-0827-4db0-8361-426a1a4d7e29","block_type":"box","text":"SFE SPI 200 Future September 2026","page_number":48,"box":{"x":593,"y":458,"width":194,"height":8}},{"id":"632ab101-69b4-4b60-891d-86d76dc65461","block_type":"box","text":"176","page_number":48,"box":{"x":845,"y":458,"width":18,"height":6}},{"id":"ed78892c-8c74-4bc2-b042-36a9779dd697","block_type":"box","text":"0.02","page_number":48,"box":{"x":914,"y":458,"width":22,"height":6}},{"id":"d92a29a1-4528-419c-a751-34792d772fdc","block_type":"box","text":"Total Futures","page_number":48,"box":{"x":521,"y":474,"width":73,"height":6}},{"id":"5a190b65-3848-4532-a9e2-873a16c6fde6","block_type":"box","text":"558","page_number":48,"box":{"x":845,"y":474,"width":18,"height":6}},{"id":"e2e870ca-7666-4251-abce-198168a3350a","block_type":"box","text":"0.06","page_number":48,"box":{"x":914,"y":474,"width":22,"height":6}},{"id":"e275181e-9f66-4c16-b93d-4a4c29361ed8","block_type":"box","text":"Total value of investments","page_number":48,"box":{"x":521,"y":516,"width":146,"height":6}},{"id":"bd19a4cd-9461-4d58-b571-c1da04cc8eae","block_type":"box","text":"^","page_number":48,"box":{"x":668,"y":516,"width":3,"height":2}},{"id":"da522472-d7a3-40d7-9e78-5f84d6ea50a4","block_type":"box","text":"829,992","page_number":48,"box":{"x":822,"y":516,"width":41,"height":8}},{"id":"c448fad3-49e2-4902-b2ce-96d13cb78aa3","block_type":"box","text":"98.29","page_number":48,"box":{"x":908,"y":516,"width":28,"height":6}},{"id":"a13996c1-1b27-4b4f-8986-728b3d438255","block_type":"box","text":"Net other assets","page_number":48,"box":{"x":522,"y":533,"width":90,"height":6}},{"id":"7445be17-dfaa-4b05-ae87-f98a441e2676","block_type":"box","text":"14,397","page_number":48,"box":{"x":829,"y":533,"width":34,"height":7}},{"id":"5d75247f-2a72-41a1-84ef-cc055819f7a3","block_type":"box","text":"1.71","page_number":48,"box":{"x":915,"y":533,"width":20,"height":6}},{"id":"8bd63e64-49af-4289-b592-825efcc717c0","block_type":"box","text":"Total net assets","page_number":48,"box":{"x":521,"y":549,"width":87,"height":6}},{"id":"267613ac-de59-428a-b072-893421a9c959","block_type":"box","text":"844,389","page_number":48,"box":{"x":822,"y":549,"width":41,"height":7}},{"id":"019c28e9-ad87-4bc0-abe1-85d3df398350","block_type":"box","text":"100.00","page_number":48,"box":{"x":902,"y":549,"width":34,"height":6}},{"id":"e34498df-f88c-4796-b64b-77489a02120c","block_type":"box","text":"†","page_number":48,"box":{"x":521,"y":566,"width":4,"height":5}},{"id":"f7c93138-68f1-4a5f-9c70-ae28a561f68a","block_type":"box","text":"Related Party","page_number":48,"box":{"x":529,"y":566,"width":72,"height":8}},{"id":"5946cc02-856e-4c7e-8d1f-0500b09045ec","block_type":"box","text":"+","page_number":48,"box":{"x":521,"y":581,"width":4,"height":2}},{"id":"d11417ec-56b7-4cb3-a163-1150e424c022","block_type":"box","text":"Value less than £1,000","page_number":48,"box":{"x":528,"y":580,"width":122,"height":7}},{"id":"179dcc60-a2db-4831-9051-bb7366dc13a7","block_type":"box","text":"* Unlisted","page_number":48,"box":{"x":521,"y":594,"width":51,"height":6}},{"id":"c927905d-d8d3-4d38-b1aa-b3b8fa74a45e","block_type":"box","text":"^","page_number":48,"box":{"x":521,"y":608,"width":3,"height":2}},{"id":"797efaf5-9f2c-463e-8e40-d285aa9d1ccf","block_type":"box","text":"Including investment liabilities","page_number":48,"box":{"x":529,"y":608,"width":157,"height":8}},{"id":"2ac74f27-9d7e-43af-a125-fe9bd9530d14","block_type":"box","text":"All investments, except collective investment schemes and forward currency","page_number":48,"box":{"x":521,"y":622,"width":421,"height":8}},{"id":"92cc3592-36e9-489e-b420-640a92454be1","block_type":"box","text":"contracts, are listed on recognised stock exchanges and are “approved","page_number":48,"box":{"x":521,"y":633,"width":420,"height":8}},{"id":"1f303a96-015e-4214-bf65-ab161d55dc33","block_type":"box","text":"securities” within the meaning of the FCA rules unless otherwise stated.","page_number":48,"box":{"x":521,"y":644,"width":381,"height":8}},{"id":"77562082-7ab8-48a3-a0d3-6274a5ea0a75","block_type":"box","text":"Royal London GMAP Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":48,"box":{"x":486,"y":33,"width":427,"height":8}},{"id":"c5b61569-b77f-4511-81ff-1f9e45c99922","block_type":"box","text":"48","page_number":48,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"46d2077f-dc69-4dd2-8bcd-0174d4e794c3","block_type":"box","text":"Summary of Material Portfolio Changes","page_number":49,"box":{"x":57,"y":94,"width":470,"height":14}},{"id":"383a4cee-d013-4303-ab1d-32e889bda257","block_type":"box","text":"For the six month period ended 30","page_number":49,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"63cb3be4-cf10-4e39-8d95-f1006fcc4285","block_type":"box","text":"June 2026","page_number":49,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"1093620e-70c1-4348-9d55-21a26c8baec0","block_type":"box","text":"Significant Purchases","page_number":49,"box":{"x":57,"y":151,"width":203,"height":11}},{"id":"e9a8d170-edc4-4cba-b469-1b271dec45b8","block_type":"box","text":"Cost","page_number":49,"box":{"x":447,"y":177,"width":26,"height":6}},{"id":"9bc2bedc-2f00-4fa6-ab54-7b61f3503f51","block_type":"box","text":"£’000","page_number":49,"box":{"x":443,"y":186,"width":30,"height":6}},{"id":"3cc5ca9c-27e4-49fb-9984-5425b1042d43","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":49,"box":{"x":58,"y":205,"width":214,"height":7}},{"id":"0da92c4a-c6bb-4dca-8e9c-7e35889145cd","block_type":"box","text":"51,201","page_number":49,"box":{"x":438,"y":205,"width":33,"height":7}},{"id":"85d6a341-1ab3-4b01-998f-47a9e3dc0c78","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":49,"box":{"x":58,"y":222,"width":295,"height":8}},{"id":"523f7b3f-709d-48fc-9f47-9f533a50f4df","block_type":"box","text":"20,832","page_number":49,"box":{"x":437,"y":222,"width":36,"height":7}},{"id":"a422d8cd-3f2e-4972-8e3f-50a342225222","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":49,"box":{"x":58,"y":240,"width":249,"height":7}},{"id":"74c54197-e028-4a86-b292-0b003c07a1d4","block_type":"box","text":"13,228","page_number":49,"box":{"x":438,"y":240,"width":35,"height":7}},{"id":"663f6696-24a9-40f6-b68e-8ac71c08a11a","block_type":"box","text":"Royal London International Government Bond Fund R Acc","page_number":49,"box":{"x":58,"y":257,"width":309,"height":8}},{"id":"8b19b8e5-c9e8-42ab-a5b0-27bbcdfd416f","block_type":"box","text":"13,205","page_number":49,"box":{"x":438,"y":257,"width":35,"height":7}},{"id":"449e802e-b17e-427d-9903-057824fae33d","block_type":"box","text":"Wisdomtree Enhanced C ETF","page_number":49,"box":{"x":57,"y":275,"width":159,"height":6}},{"id":"c8a07531-b75a-4320-9abe-ae54b0b9eb3b","block_type":"box","text":"11,385","page_number":49,"box":{"x":439,"y":275,"width":34,"height":7}},{"id":"45e891b9-9b09-44cb-9f2f-38f58849add3","block_type":"box","text":"Invesco Physical Gold ETC","page_number":49,"box":{"x":58,"y":292,"width":144,"height":8}},{"id":"6d2324d4-44d4-4f0e-8d6a-8c7dcdee22e4","block_type":"box","text":"11,368","page_number":49,"box":{"x":439,"y":292,"width":34,"height":7}},{"id":"f34c972d-62c3-4985-8341-cdd26713d98e","block_type":"box","text":"Royal London UK Government Bond Fund R Acc","page_number":49,"box":{"x":58,"y":310,"width":259,"height":7}},{"id":"6291378e-4421-4246-a7cc-5a73060eddd0","block_type":"box","text":"11,016","page_number":49,"box":{"x":440,"y":310,"width":33,"height":7}},{"id":"823f4d0f-511e-4779-973c-58564702fc89","block_type":"box","text":"Royal London Global Equity Enhanced Fund R Acc","page_number":49,"box":{"x":58,"y":327,"width":270,"height":8}},{"id":"caf37888-7e02-48a0-b10b-eec8629f9eda","block_type":"box","text":"5,818","page_number":49,"box":{"x":444,"y":327,"width":29,"height":7}},{"id":"a81d4487-dfd0-4399-a07c-426451affdbd","block_type":"box","text":"iShares Physical Gold ETC","page_number":49,"box":{"x":57,"y":345,"width":144,"height":7}},{"id":"7a76e0d4-37c9-4e3b-b20d-a217b059dc69","block_type":"box","text":"5,703","page_number":49,"box":{"x":444,"y":345,"width":29,"height":7}},{"id":"655cdcbc-280a-46c2-a0df-41dc0ae96a46","block_type":"box","text":"Royal London Global Equity Diversified Fund R Acc","page_number":49,"box":{"x":58,"y":362,"width":273,"height":8}},{"id":"676e2d61-a802-47e0-b07b-705c10fe6353","block_type":"box","text":"5,374","page_number":49,"box":{"x":445,"y":362,"width":28,"height":7}},{"id":"eb628642-f6a7-4e47-8cc8-edc11934d826","block_type":"box","text":"Subtotal","page_number":49,"box":{"x":57,"y":380,"width":48,"height":6}},{"id":"6f18fbe1-387d-406b-8b28-efd43134616a","block_type":"box","text":"149,130","page_number":49,"box":{"x":432,"y":380,"width":41,"height":7}},{"id":"53e1f2ac-3464-4911-a93a-311fe00396b3","block_type":"box","text":"Total cost of purchases, including the above, for the period","page_number":49,"box":{"x":57,"y":397,"width":339,"height":8}},{"id":"1fba3d3c-5f98-4c1f-8eda-e308d8ff21be","block_type":"box","text":"163,259","page_number":49,"box":{"x":430,"y":397,"width":43,"height":8}},{"id":"ed4e7908-d5dc-4c53-b0d8-ac3cf5a35826","block_type":"box","text":"Significant Sales","page_number":49,"box":{"x":522,"y":151,"width":156,"height":11}},{"id":"8a790e0f-6e26-4adc-9248-9396ea2c76fe","block_type":"box","text":"Proceeds","page_number":49,"box":{"x":884,"y":177,"width":53,"height":6}},{"id":"25d3605e-f968-4d56-951f-e176c58b153f","block_type":"box","text":"£’000","page_number":49,"box":{"x":907,"y":186,"width":30,"height":6}},{"id":"7cd0b6c2-bd18-4a80-bd02-f23fe7f6b39e","block_type":"box","text":"Royal London Short-Term Money Market Fund R Acc","page_number":49,"box":{"x":522,"y":205,"width":281,"height":7}},{"id":"1ea2a5d0-5b5f-4524-9ee0-601fe53117c4","block_type":"box","text":"55,921","page_number":49,"box":{"x":901,"y":205,"width":34,"height":7}},{"id":"5461ae31-f1c7-422d-b23c-865bcdcaca21","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":49,"box":{"x":522,"y":222,"width":250,"height":8}},{"id":"f26f3a6d-94d3-48e2-9931-2bb06ffb37f0","block_type":"box","text":"23,750","page_number":49,"box":{"x":901,"y":222,"width":36,"height":7}},{"id":"01af7fb7-9b31-4577-bf57-09cf8d6eb311","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":49,"box":{"x":522,"y":240,"width":295,"height":7}},{"id":"dd930658-ce4d-4d65-af70-fcb803191c21","block_type":"box","text":"16,528","page_number":49,"box":{"x":902,"y":240,"width":35,"height":7}},{"id":"af66fd68-a6cb-44a4-b93e-b13043d546d9","block_type":"box","text":"Invesco Physical Gold ETC","page_number":49,"box":{"x":522,"y":257,"width":144,"height":8}},{"id":"98434e76-c26a-4735-b0da-30005c9582f6","block_type":"box","text":"15,639","page_number":49,"box":{"x":902,"y":257,"width":35,"height":7}},{"id":"94e78d53-8b5e-403d-9da3-ac8d0fea1c25","block_type":"box","text":"iShares Bloomberg Roll Select Commodity Swap UCITS ETF","page_number":49,"box":{"x":522,"y":275,"width":325,"height":7}},{"id":"919992c1-e80c-4803-ae2d-c0fdc3a4c597","block_type":"box","text":"14,304","page_number":49,"box":{"x":902,"y":275,"width":35,"height":7}},{"id":"7cc83960-e9e5-4fde-a022-d45feb62200d","block_type":"box","text":"Royal London Investment Grade Short Dated Credit Fund R Acc","page_number":49,"box":{"x":522,"y":292,"width":340,"height":8}},{"id":"0d8b8c5c-3f34-4838-ae45-7e2089c731f8","block_type":"box","text":"10,284","page_number":49,"box":{"x":902,"y":292,"width":35,"height":7}},{"id":"f33b9036-78dc-4b7a-be8e-66ecdee388fc","block_type":"box","text":"Royal London Global High Yield Bond Fund R Acc","page_number":49,"box":{"x":522,"y":310,"width":266,"height":7}},{"id":"3775b15d-afdf-4a60-9c0e-7053d6a299a4","block_type":"box","text":"10,245","page_number":49,"box":{"x":902,"y":310,"width":35,"height":7}},{"id":"fefefa78-6c06-4537-84a5-34ee9a045534","block_type":"box","text":"iShares Physical Gold ETC","page_number":49,"box":{"x":522,"y":327,"width":144,"height":8}},{"id":"097a5307-fbf4-4559-a379-9dfb99e2b225","block_type":"box","text":"10,168","page_number":49,"box":{"x":904,"y":327,"width":33,"height":7}},{"id":"c9c25f9a-a657-4fef-91bb-bef8fde0418b","block_type":"box","text":"Royal London Global Equity Enhanced Fund R Acc","page_number":49,"box":{"x":522,"y":345,"width":271,"height":7}},{"id":"4600e343-8240-4240-b7fa-0be58999dfd2","block_type":"box","text":"6,262","page_number":49,"box":{"x":908,"y":345,"width":29,"height":7}},{"id":"78dd9d2f-5c55-455a-a9a5-d7b0f2801b5b","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":49,"box":{"x":522,"y":362,"width":214,"height":8}},{"id":"478b5ecf-3b12-4ec9-88df-96c7ecca0fba","block_type":"box","text":"5,060","page_number":49,"box":{"x":908,"y":362,"width":29,"height":7}},{"id":"8931b827-240d-44db-b379-a7d60b14b19a","block_type":"box","text":"Subtotal","page_number":49,"box":{"x":521,"y":380,"width":48,"height":6}},{"id":"f2784ad1-d1bc-4ca1-bb47-539a1a8f3560","block_type":"box","text":"168,161","page_number":49,"box":{"x":896,"y":380,"width":40,"height":7}},{"id":"74be4921-5fa9-4acd-9110-f98093594838","block_type":"box","text":"Total proceeds from sales, including the above, for the period","page_number":49,"box":{"x":521,"y":397,"width":347,"height":8}},{"id":"fb880b9a-8f2d-4b5b-b9fc-8330e75861d7","block_type":"box","text":"180,068","page_number":49,"box":{"x":895,"y":397,"width":42,"height":8}},{"id":"29d425ae-ad05-49fc-a615-48de088ea37a","block_type":"box","text":"Royal London GMAP Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":49,"box":{"x":486,"y":33,"width":427,"height":8}},{"id":"e2819c13-1cb1-4a1b-b9ec-6d251ea2a044","block_type":"box","text":"49","page_number":49,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"47db137f-8583-4528-9c69-85aa68f2c509","block_type":"box","text":"Financial Statements","page_number":50,"box":{"x":58,"y":94,"width":253,"height":11}},{"id":"0e350037-50e5-4275-bb4b-3629ba19ad9c","block_type":"box","text":"Statement of Total Return","page_number":50,"box":{"x":57,"y":151,"width":241,"height":9}},{"id":"804fefd5-b0f7-4117-9699-460f2c231fcf","block_type":"box","text":"For the six month period ended 30","page_number":50,"box":{"x":58,"y":169,"width":231,"height":10}},{"id":"9e487c87-2feb-435b-a072-d0a940c50181","block_type":"box","text":"June 2026","page_number":50,"box":{"x":294,"y":169,"width":70,"height":8}},{"id":"8acbef95-8982-4fb6-8e0b-f55a0bccf2ec","block_type":"box","text":"30 Jun 2026","page_number":50,"box":{"x":264,"y":198,"width":66,"height":6}},{"id":"0503316c-e518-4e30-bb67-390104b6d49c","block_type":"box","text":"30 Jun 2025","page_number":50,"box":{"x":407,"y":198,"width":66,"height":6}},{"id":"305c57ca-6634-48c1-aad1-3e331bc40deb","block_type":"box","text":"£’000","page_number":50,"box":{"x":229,"y":207,"width":29,"height":6}},{"id":"477a8d3f-ccae-42e9-ac98-23a9870ccd0e","block_type":"box","text":"£’000","page_number":50,"box":{"x":300,"y":207,"width":30,"height":6}},{"id":"1f9f63df-848e-45f9-9592-53fc04625689","block_type":"box","text":"£’000","page_number":50,"box":{"x":371,"y":207,"width":30,"height":6}},{"id":"999c0892-7166-4106-82e6-d183d5f5c28e","block_type":"box","text":"£’000","page_number":50,"box":{"x":443,"y":207,"width":30,"height":6}},{"id":"5bce9eb9-2a12-4dc4-b43f-e2664cf3df10","block_type":"box","text":"Income","page_number":50,"box":{"x":58,"y":226,"width":38,"height":6}},{"id":"4b8dc525-9516-4710-9a1b-050bbc83ebec","block_type":"box","text":"Net capital gains","page_number":50,"box":{"x":69,"y":243,"width":88,"height":8}},{"id":"1e219581-02a7-4508-8dac-36bcb2ceb3dd","block_type":"box","text":"70,119","page_number":50,"box":{"x":297,"y":243,"width":33,"height":8}},{"id":"35d6b45f-d403-4459-a280-5deac05a7fb7","block_type":"box","text":"7,255","page_number":50,"box":{"x":445,"y":243,"width":28,"height":8}},{"id":"6122b054-4199-4e7e-b533-0732a588c16b","block_type":"box","text":"Revenue","page_number":50,"box":{"x":69,"y":261,"width":47,"height":6}},{"id":"d056b4c9-76a3-4d0d-b6cf-3acb93d30ace","block_type":"box","text":"6,778","page_number":50,"box":{"x":230,"y":261,"width":29,"height":7}},{"id":"0effb58a-3610-4928-aaf3-1f4d0427d5ed","block_type":"box","text":"5,361","page_number":50,"box":{"x":372,"y":261,"width":28,"height":7}},{"id":"bbe79442-5387-448a-ae02-ae31b3326ff9","block_type":"box","text":"Expenses","page_number":50,"box":{"x":58,"y":278,"width":51,"height":8}},{"id":"60dd2dfd-0187-436a-a0e3-19f5710f9442","block_type":"box","text":"(1,107)","page_number":50,"box":{"x":228,"y":278,"width":35,"height":8}},{"id":"c24471e7-fd85-4abd-b0f9-43fc972e6075","block_type":"box","text":"(813)","page_number":50,"box":{"x":380,"y":278,"width":25,"height":8}},{"id":"66b53c9f-1085-4ecd-8d8e-68bc8226d3cb","block_type":"box","text":"Net revenue before","page_number":50,"box":{"x":58,"y":296,"width":101,"height":6}},{"id":"8a6eeba0-da76-4105-b2e5-f11ef8d79f54","block_type":"box","text":"taxation","page_number":50,"box":{"x":57,"y":305,"width":42,"height":6}},{"id":"cf0aedb3-e4ca-4b07-a300-9c10f5faca4f","block_type":"box","text":"5,671","page_number":50,"box":{"x":230,"y":296,"width":27,"height":7}},{"id":"c11d93b6-75e9-4711-9aaf-039e303122b3","block_type":"box","text":"4,548","page_number":50,"box":{"x":371,"y":296,"width":30,"height":7}},{"id":"637202ad-c7c2-436c-93c7-42e0f62dc41a","block_type":"box","text":"Taxation","page_number":50,"box":{"x":57,"y":323,"width":44,"height":6}},{"id":"55fd4a6d-df55-4698-ae1b-1b8e8845b2ff","block_type":"box","text":"(709)","page_number":50,"box":{"x":236,"y":323,"width":27,"height":8}},{"id":"a75c934e-b33d-429f-986d-03a26752db42","block_type":"box","text":"(602)","page_number":50,"box":{"x":379,"y":323,"width":26,"height":8}},{"id":"5f9a931a-9774-4999-860d-fffaabf2922b","block_type":"box","text":"Net revenue after","page_number":50,"box":{"x":58,"y":340,"width":92,"height":6}},{"id":"5cc765a5-933c-4c33-947d-3deafa27928d","block_type":"box","text":"taxation","page_number":50,"box":{"x":57,"y":350,"width":42,"height":6}},{"id":"e4528185-3953-4607-b2ca-11dd58c1059e","block_type":"box","text":"4,962","page_number":50,"box":{"x":300,"y":340,"width":30,"height":8}},{"id":"b7b1814d-edc6-4f00-a5fb-e3d169da2968","block_type":"box","text":"3,946","page_number":50,"box":{"x":443,"y":340,"width":30,"height":8}},{"id":"b33aa3e4-e7b0-4c06-b298-b95ec7f27c00","block_type":"box","text":"Total return before","page_number":50,"box":{"x":57,"y":367,"width":98,"height":6}},{"id":"2fda017c-1e25-42ef-8fb0-0fc83227623c","block_type":"box","text":"distributions","page_number":50,"box":{"x":57,"y":377,"width":64,"height":6}},{"id":"d2344d9e-6c87-4cdd-8a96-ec051747f488","block_type":"box","text":"75,081","page_number":50,"box":{"x":295,"y":367,"width":33,"height":8}},{"id":"8cb24d0c-31c8-46f5-9178-d0ab69b8d5e0","block_type":"box","text":"11,201","page_number":50,"box":{"x":439,"y":367,"width":32,"height":8}},{"id":"f3e4d307-3456-4b33-835f-9b854215448a","block_type":"box","text":"Distributions","page_number":50,"box":{"x":58,"y":394,"width":65,"height":6}},{"id":"042b6936-df78-41ff-acec-183ed2f3bd3c","block_type":"box","text":"(4,975)","page_number":50,"box":{"x":298,"y":394,"width":36,"height":8}},{"id":"da7cb3d1-79e8-469b-8591-591a07f814e6","block_type":"box","text":"(3,752)","page_number":50,"box":{"x":441,"y":394,"width":36,"height":8}},{"id":"1b6ec1e3-63f7-4edf-bfb0-891a702b0206","block_type":"box","text":"Change in net assets","page_number":50,"box":{"x":57,"y":412,"width":120,"height":8}},{"id":"f89eedee-2583-483f-a653-b407e6a8cec0","block_type":"box","text":"attributable to","page_number":50,"box":{"x":57,"y":421,"width":81,"height":6}},{"id":"d001c60c-516c-4f63-9779-bc1d86c475b5","block_type":"box","text":"shareholders from","page_number":50,"box":{"x":57,"y":431,"width":106,"height":6}},{"id":"a96cf4f3-254a-4c6c-8784-6ecb09e5c16f","block_type":"box","text":"investment activities","page_number":50,"box":{"x":57,"y":440,"width":119,"height":6}},{"id":"a7521030-cfa2-48d2-b58b-aeeec4923789","block_type":"box","text":"70,106","page_number":50,"box":{"x":295,"y":412,"width":35,"height":7}},{"id":"cc5d9cba-f469-4f9a-9056-071a5eee7b3e","block_type":"box","text":"7,449","page_number":50,"box":{"x":444,"y":412,"width":29,"height":7}},{"id":"52f893b9-efcb-4cd6-938c-0f162159539d","block_type":"box","text":"Statement of Change in Net Assets","page_number":50,"box":{"x":57,"y":486,"width":332,"height":11}},{"id":"76c15dc7-cc91-4511-aa8a-7198055fa78a","block_type":"box","text":"Attributable to Shareholders","page_number":50,"box":{"x":57,"y":500,"width":265,"height":9}},{"id":"b706c2bd-84ad-4ebf-bb6d-1a3a51fb774a","block_type":"box","text":"For the six month period ended 30","page_number":50,"box":{"x":58,"y":518,"width":231,"height":10}},{"id":"38e72c13-2c75-4891-8113-0e1558fc41eb","block_type":"box","text":"June 2026","page_number":50,"box":{"x":294,"y":518,"width":70,"height":8}},{"id":"9c20b543-ff20-418c-abf8-feb1e9537cd0","block_type":"box","text":"30 Jun 2026","page_number":50,"box":{"x":264,"y":547,"width":66,"height":6}},{"id":"4aaacade-fae9-4f35-aca9-62c4a7f5fa47","block_type":"box","text":"30 Jun 2025","page_number":50,"box":{"x":407,"y":547,"width":66,"height":6}},{"id":"3ed6ff45-4478-4994-88ba-0a7698354aaa","block_type":"box","text":"£’000","page_number":50,"box":{"x":229,"y":556,"width":29,"height":6}},{"id":"f735c0cf-86c0-4ff0-9463-8bf7453e1cad","block_type":"box","text":"£’000","page_number":50,"box":{"x":300,"y":556,"width":30,"height":6}},{"id":"9f4950d4-0c92-40c9-93a6-43eabde88981","block_type":"box","text":"£’000","page_number":50,"box":{"x":371,"y":556,"width":30,"height":6}},{"id":"3429239b-6a1c-485b-a35d-84e66a6dae1e","block_type":"box","text":"£’000","page_number":50,"box":{"x":443,"y":556,"width":30,"height":6}},{"id":"78359b41-20e3-4411-a1af-1216c8040625","block_type":"box","text":"Opening net assets","page_number":50,"box":{"x":57,"y":575,"width":111,"height":7}},{"id":"a0fec2e3-e8b3-4a59-842c-c2b5fc7df975","block_type":"box","text":"attributable to","page_number":50,"box":{"x":57,"y":584,"width":81,"height":6}},{"id":"9fcdb426-3bd3-4b27-9d74-add40034fb20","block_type":"box","text":"shareholders","page_number":50,"box":{"x":57,"y":594,"width":76,"height":6}},{"id":"48da4f2e-5c35-4736-86d1-eb6af6e3409c","block_type":"box","text":"763,589","page_number":50,"box":{"x":287,"y":575,"width":43,"height":7}},{"id":"1e8ed256-9462-4176-8c60-d9c7f18e33e6","block_type":"box","text":"510,027","page_number":50,"box":{"x":431,"y":575,"width":42,"height":7}},{"id":"31b42c0d-7a71-429d-8104-aba72b1f4b8e","block_type":"box","text":"Issue of shares","page_number":50,"box":{"x":58,"y":611,"width":80,"height":6}},{"id":"c73b0440-2122-4128-9bd6-81ddac807834","block_type":"box","text":"38,694","page_number":50,"box":{"x":222,"y":611,"width":36,"height":7}},{"id":"89ebd25d-4cbc-44e9-9dfe-aae405a8916e","block_type":"box","text":"155,827","page_number":50,"box":{"x":360,"y":611,"width":41,"height":7}},{"id":"bf1160b9-1c77-43f8-9e8a-1fc594b16812","block_type":"box","text":"Cancellation of shares","page_number":50,"box":{"x":57,"y":629,"width":119,"height":6}},{"id":"9cbeb6d2-64dc-45f9-8e67-6ab0c9346535","block_type":"box","text":"(32,775)","page_number":50,"box":{"x":220,"y":629,"width":43,"height":7}},{"id":"3734e8dd-ff75-4c3d-ba48-dd734b0b896a","block_type":"box","text":"(23,993)","page_number":50,"box":{"x":362,"y":629,"width":43,"height":7}},{"id":"51aa98fb-de5d-4951-a2e3-0d49b2cad390","block_type":"box","text":"5,919","page_number":50,"box":{"x":301,"y":646,"width":29,"height":7}},{"id":"195b18b2-e493-4437-a4f9-7b14e895bd0c","block_type":"box","text":"131,834","page_number":50,"box":{"x":432,"y":646,"width":41,"height":7}},{"id":"cd2bc4e8-bc14-4770-9ead-3a429cc2ad53","block_type":"box","text":"Dilution adjustment","page_number":50,"box":{"x":58,"y":664,"width":101,"height":7}},{"id":"24a3676b-eaac-4cb4-910e-22bca5b9ae0b","block_type":"box","text":"17","page_number":50,"box":{"x":319,"y":664,"width":11,"height":6}},{"id":"9a04b6ac-12ab-4f1d-a144-f99209948147","block_type":"box","text":"372","page_number":50,"box":{"x":454,"y":664,"width":19,"height":6}},{"id":"762799b6-2864-4b43-9e53-36c243c5d8a2","block_type":"box","text":"Change in net","page_number":50,"box":{"x":57,"y":681,"width":74,"height":8}},{"id":"649d15da-f8e1-49e6-84a3-93a95b55a8fc","block_type":"box","text":"assets attributable","page_number":50,"box":{"x":57,"y":691,"width":98,"height":6}},{"id":"0622c631-24a2-4cdb-9c8f-ead9ae7e40f3","block_type":"box","text":"to shareholders from","page_number":50,"box":{"x":57,"y":700,"width":110,"height":6}},{"id":"4479d88c-7cbc-475a-be6e-5143ac3fb0ea","block_type":"box","text":"investment activities","page_number":50,"box":{"x":57,"y":710,"width":108,"height":6}},{"id":"8622e431-f135-4457-9c7b-f9455159f092","block_type":"box","text":"70,106","page_number":50,"box":{"x":295,"y":681,"width":35,"height":7}},{"id":"59e1d614-7aa9-4348-ad75-85e2acf49a57","block_type":"box","text":"7,449","page_number":50,"box":{"x":445,"y":681,"width":28,"height":7}},{"id":"4117caea-1be8-4753-ad46-ace3219b8282","block_type":"box","text":"Retained distributions on","page_number":50,"box":{"x":58,"y":727,"width":131,"height":6}},{"id":"b07f9c11-aefb-4c85-a305-604408e6b43f","block_type":"box","text":"accumulation shares","page_number":50,"box":{"x":57,"y":737,"width":110,"height":6}},{"id":"94928b19-295e-4834-96b9-b4b04ccc6cc2","block_type":"box","text":"4,758","page_number":50,"box":{"x":301,"y":727,"width":29,"height":7}},{"id":"c31d893e-bc71-49af-ab47-216dbceba8d7","block_type":"box","text":"4,281","page_number":50,"box":{"x":444,"y":727,"width":27,"height":7}},{"id":"77e0e42d-5a35-4040-81e7-4e80103439ef","block_type":"box","text":"Closing net assets","page_number":50,"box":{"x":57,"y":754,"width":106,"height":8}},{"id":"9a352255-b155-4c0f-b496-57709789e039","block_type":"box","text":"attributable to","page_number":50,"box":{"x":57,"y":764,"width":81,"height":6}},{"id":"3330db89-add5-4e1a-a8eb-2bd993de2607","block_type":"box","text":"shareholders","page_number":50,"box":{"x":57,"y":773,"width":76,"height":6}},{"id":"cf70b9fd-0f34-4722-8865-bf635e58799f","block_type":"box","text":"844,389","page_number":50,"box":{"x":286,"y":754,"width":44,"height":7}},{"id":"eed1c385-3837-4c96-a46c-da6fcc2041e8","block_type":"box","text":"653,963","page_number":50,"box":{"x":430,"y":754,"width":43,"height":7}},{"id":"509b0938-9513-4fcf-8d1d-cb84b0f5e6e0","block_type":"box","text":"Balance Sheet","page_number":50,"box":{"x":522,"y":151,"width":134,"height":9}},{"id":"3c2547bf-1515-40ed-acff-0dd794701d97","block_type":"box","text":"As at 30","page_number":50,"box":{"x":521,"y":169,"width":55,"height":8}},{"id":"73e1f00f-c38e-43d4-ae9a-aeed9969d387","block_type":"box","text":"June 2026","page_number":50,"box":{"x":582,"y":169,"width":70,"height":8}},{"id":"f2c9f626-c83a-4d6d-9c93-e40103875d4a","block_type":"box","text":"30 Jun 2026","page_number":50,"box":{"x":728,"y":198,"width":66,"height":6}},{"id":"822358d0-9e6d-4721-be15-4766fb19124b","block_type":"box","text":"31 Dec 2025","page_number":50,"box":{"x":871,"y":198,"width":66,"height":6}},{"id":"eadcd40e-1a82-41b1-9ed0-0bd2f22c0854","block_type":"box","text":"£’000","page_number":50,"box":{"x":764,"y":207,"width":30,"height":6}},{"id":"c733a646-fcb0-4566-9023-e23bc36e8e1b","block_type":"box","text":"£’000","page_number":50,"box":{"x":907,"y":207,"width":30,"height":6}},{"id":"6a89831c-5a33-4cb1-87e7-864aa33da785","block_type":"box","text":"Assets","page_number":50,"box":{"x":521,"y":226,"width":39,"height":6}},{"id":"e811a64f-5450-4132-8a5c-a16d2dfe21ac","block_type":"box","text":"Investments","page_number":50,"box":{"x":522,"y":243,"width":63,"height":6}},{"id":"6ecfbf2f-b090-4a25-972e-6f83ea9cbf01","block_type":"box","text":"830,936","page_number":50,"box":{"x":751,"y":243,"width":43,"height":7}},{"id":"42347ee6-7a85-415e-9df1-1edfe568c459","block_type":"box","text":"752,787","page_number":50,"box":{"x":896,"y":243,"width":41,"height":7}},{"id":"2d295f6e-1669-465a-a79e-491f0a7bab6e","block_type":"box","text":"Amounts receivable","page_number":50,"box":{"x":521,"y":261,"width":106,"height":6}},{"id":"5ef9f2c2-f45a-4f71-a4eb-3845704ebd62","block_type":"box","text":"434","page_number":50,"box":{"x":775,"y":261,"width":19,"height":6}},{"id":"cd6b1b8b-25d2-49f0-8f09-359b15d01a2c","block_type":"box","text":"1,376","page_number":50,"box":{"x":910,"y":261,"width":27,"height":7}},{"id":"2e801e34-7583-48b3-8bbf-5309a5239c00","block_type":"box","text":"Cash and cash","page_number":50,"box":{"x":522,"y":278,"width":78,"height":6}},{"id":"49f81a39-2408-4f9b-ac08-32cf36f19fdb","block_type":"box","text":"equivalents","page_number":50,"box":{"x":521,"y":288,"width":61,"height":7}},{"id":"ad2f52df-2d89-42ce-8c73-2b7c041cdcd5","block_type":"box","text":"26,754","page_number":50,"box":{"x":758,"y":278,"width":36,"height":7}},{"id":"22d62a19-d0ee-4588-b2f3-61150f04260b","block_type":"box","text":"18,817","page_number":50,"box":{"x":903,"y":278,"width":34,"height":7}},{"id":"8b40a4dd-82a9-4f9b-bb5d-f05fae536737","block_type":"box","text":"Total assets","page_number":50,"box":{"x":521,"y":305,"width":64,"height":6}},{"id":"e901e33d-093a-4dc3-9583-f40ad71c720e","block_type":"box","text":"858,124","page_number":50,"box":{"x":753,"y":305,"width":41,"height":7}},{"id":"0db3194c-33a7-43de-941b-a6944e45e8f3","block_type":"box","text":"772,980","page_number":50,"box":{"x":894,"y":305,"width":43,"height":7}},{"id":"06865aa8-6cd6-4913-845b-a88c11698f96","block_type":"box","text":"Liabilities","page_number":50,"box":{"x":522,"y":323,"width":55,"height":6}},{"id":"11c4bd60-6f7e-4c4c-8b71-26a55345c72a","block_type":"box","text":"Investments","page_number":50,"box":{"x":522,"y":340,"width":63,"height":6}},{"id":"8cd37053-ba78-49a8-b07f-b1b49a2e414e","block_type":"box","text":"944","page_number":50,"box":{"x":775,"y":340,"width":19,"height":6}},{"id":"42ec3fb0-56af-4681-b8a9-f089f73a2089","block_type":"box","text":"1,237","page_number":50,"box":{"x":909,"y":340,"width":28,"height":7}},{"id":"8ac20b29-c612-4dc3-9c11-e1ebe2cc1ded","block_type":"box","text":"Bank overdrafts","page_number":50,"box":{"x":522,"y":358,"width":83,"height":6}},{"id":"fe920c72-f566-4175-90ac-0226f9f31c9c","block_type":"box","text":"11,136","page_number":50,"box":{"x":762,"y":358,"width":32,"height":7}},{"id":"f128f656-cb8f-445a-89bd-ac29301406ab","block_type":"box","text":"4,848","page_number":50,"box":{"x":907,"y":358,"width":30,"height":7}},{"id":"2b2e96d5-19a0-4069-90c9-4a8f826afb66","block_type":"box","text":"Distribution payable","page_number":50,"box":{"x":522,"y":375,"width":105,"height":8}},{"id":"aebbbe8d-d2c9-4e4e-8f61-16b3e36d3dcb","block_type":"box","text":"247","page_number":50,"box":{"x":776,"y":375,"width":18,"height":6}},{"id":"9c55ff44-8792-4149-9832-651557929e37","block_type":"box","text":"396","page_number":50,"box":{"x":918,"y":375,"width":19,"height":6}},{"id":"6b862330-3e1a-448e-b504-91b2e0e05165","block_type":"box","text":"Other amounts payable","page_number":50,"box":{"x":521,"y":393,"width":124,"height":7}},{"id":"3f5442db-bf0e-467a-8832-14ddc4aece31","block_type":"box","text":"1,408","page_number":50,"box":{"x":766,"y":393,"width":28,"height":7}},{"id":"484114b3-dba5-4fd5-9f18-fce2ecc2b668","block_type":"box","text":"2,910","page_number":50,"box":{"x":908,"y":393,"width":29,"height":7}},{"id":"8a365afa-d6f6-48c6-b23a-a043c66d8996","block_type":"box","text":"Total liabilities","page_number":50,"box":{"x":521,"y":410,"width":75,"height":6}},{"id":"cd670c4e-0081-4131-9f3a-e39bcebdcb1c","block_type":"box","text":"13,735","page_number":50,"box":{"x":760,"y":410,"width":34,"height":7}},{"id":"cfd3a372-0565-44c8-9925-27936f95c7c9","block_type":"box","text":"9,391","page_number":50,"box":{"x":908,"y":410,"width":27,"height":7}},{"id":"8b83371f-1b88-43a0-a247-10cd5e1b4b79","block_type":"box","text":"Net assets","page_number":50,"box":{"x":522,"y":428,"width":59,"height":6}},{"id":"3d350e43-1f1e-401c-8bc2-fa02cde4c94e","block_type":"box","text":"attributable to","page_number":50,"box":{"x":521,"y":437,"width":82,"height":6}},{"id":"3a675edf-4069-4eaf-96ab-6828b6cc3f59","block_type":"box","text":"shareholders","page_number":50,"box":{"x":521,"y":447,"width":76,"height":6}},{"id":"9ab8f492-bc92-4c7e-b37f-3fbc9852e0a0","block_type":"box","text":"844,389","page_number":50,"box":{"x":751,"y":428,"width":43,"height":7}},{"id":"82a7b10e-166c-4643-94e9-42e9d90e1d57","block_type":"box","text":"763,589","page_number":50,"box":{"x":894,"y":428,"width":43,"height":7}},{"id":"cea0d459-ccd6-4e90-a586-0de8dfca6dd5","block_type":"box","text":"Royal London GMAP Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":50,"box":{"x":486,"y":33,"width":427,"height":8}},{"id":"7ff47e15-d2f0-44f8-9080-e210b6245bed","block_type":"box","text":"50","page_number":50,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"2554c94f-7dd6-471b-a740-cf814cfba4a5","block_type":"box","text":"Notes to the Financial Statements","page_number":51,"box":{"x":58,"y":94,"width":409,"height":11}},{"id":"6c666d91-830b-478e-a947-3e31721d7df6","block_type":"box","text":"For the six month period ended 30","page_number":51,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"82aa9433-e976-4f73-96eb-5c8968ada5b1","block_type":"box","text":"June 2026","page_number":51,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"17c5799b-e100-4ddb-bedf-3ee09e85d8a4","block_type":"box","text":"1. Accounting policies","page_number":51,"box":{"x":58,"y":151,"width":205,"height":11}},{"id":"6aae47d6-cfd5-437a-acf3-f6185cd01c47","block_type":"box","text":"The accounting policies are set out in note 1 on pages","page_number":51,"box":{"x":57,"y":169,"width":404,"height":10}},{"id":"1b4a039c-b69e-473f-8c4c-862845fb8c72","block_type":"box","text":"5","page_number":51,"box":{"x":470,"y":170,"width":7,"height":7}},{"id":"a264c843-251c-4e2c-8543-668513d3650e","block_type":"box","text":"and","page_number":51,"box":{"x":57,"y":184,"width":24,"height":8}},{"id":"3a9c4f30-0e85-4773-8b52-b633b4998e2e","block_type":"box","text":"6","page_number":51,"box":{"x":87,"y":184,"width":7,"height":8}},{"id":"03589a49-d186-490d-993c-520da2ad6a8c","block_type":"box","text":".","page_number":51,"box":{"x":96,"y":190,"width":2,"height":1}},{"id":"cfc43243-71bd-46c7-b57c-585c36846446","block_type":"box","text":"2. Related party transactions","page_number":51,"box":{"x":57,"y":210,"width":272,"height":12}},{"id":"fcd54385-11d0-4142-a102-7ec296e3317b","block_type":"box","text":"The Fund’s Authorised Corporate Director, Royal London","page_number":51,"box":{"x":57,"y":229,"width":420,"height":10}},{"id":"357398ed-3731-4003-a60d-e5c686b29f55","block_type":"box","text":"Unit Trust Managers Limited, is a related party to the Fund","page_number":51,"box":{"x":58,"y":243,"width":419,"height":10}},{"id":"c4206908-ce29-4e80-92d8-e3d4fb50e2cb","block_type":"box","text":"as defined by Financial Reporting Standard 102 ‘Related","page_number":51,"box":{"x":57,"y":257,"width":420,"height":10}},{"id":"dc13a127-61fa-4590-b4c2-0e601612f3f8","block_type":"box","text":"Party Disclosures’.","page_number":51,"box":{"x":58,"y":272,"width":124,"height":10}},{"id":"6d91c6af-1bcc-4e5f-846c-12ed2f004d30","block_type":"box","text":"Fund Management fees charged by Royal London Unit Trust","page_number":51,"box":{"x":58,"y":293,"width":420,"height":10}},{"id":"481cc7aa-f704-4220-b587-3fee06b53747","block_type":"box","text":"Managers Limited are disclosed within the expenses figure","page_number":51,"box":{"x":58,"y":307,"width":419,"height":10}},{"id":"485d74a1-8778-4c8f-baf7-ca3f67f0f5f4","block_type":"box","text":"shown on the Statement of Total Return and details of shares","page_number":51,"box":{"x":57,"y":321,"width":421,"height":8}},{"id":"b90acb18-6fcb-42cf-9914-c45fd7d4a557","block_type":"box","text":"created and cancelled by Royal London Unit Trust Managers","page_number":51,"box":{"x":57,"y":336,"width":421,"height":9}},{"id":"c339f257-08c7-43dd-8244-20110610e00d","block_type":"box","text":"Limited are shown in the Statement of Change in Net Assets","page_number":51,"box":{"x":58,"y":350,"width":420,"height":10}},{"id":"683d143b-f4cf-4907-a44e-87328c332e27","block_type":"box","text":"Attributable to Shareholders and the Distribution figure shown","page_number":51,"box":{"x":57,"y":364,"width":420,"height":10}},{"id":"5b6ae09a-56fc-4dc2-964a-8f9210b1bff9","block_type":"box","text":"on the Statement of Total Return.","page_number":51,"box":{"x":57,"y":378,"width":223,"height":8}},{"id":"c55eb980-037b-46ba-aeef-9633cc80d3ad","block_type":"box","text":"At the six months period end the balance due to Royal London","page_number":51,"box":{"x":57,"y":399,"width":420,"height":10}},{"id":"c658849f-b52d-4758-aacc-1584e061a10f","block_type":"box","text":"Unit Trust Managers Limited in respect of these transactions","page_number":51,"box":{"x":58,"y":413,"width":419,"height":10}},{"id":"9a36ba67-9635-4b57-9d4d-982e413c0b76","block_type":"box","text":"was £124,000 (31/12/25: £873,000).","page_number":51,"box":{"x":57,"y":428,"width":240,"height":10}},{"id":"27dc85b3-4f85-4477-b84d-c15709d2cd54","block_type":"box","text":"Amounts due from Royal London Unit Trust Managers Limited in","page_number":51,"box":{"x":57,"y":449,"width":420,"height":10}},{"id":"f8c0ca55-3294-4704-854f-6a761491cb3e","block_type":"box","text":"respect of periodic charge rebates at the period end amounted","page_number":51,"box":{"x":58,"y":463,"width":419,"height":10}},{"id":"6da74610-3a60-4d52-bd5e-3501f3c716e5","block_type":"box","text":"to £148,000 (31/12/25: £157,000).","page_number":51,"box":{"x":57,"y":477,"width":224,"height":10}},{"id":"11a0197b-ab43-491b-8d57-3da7a16d75d6","block_type":"box","text":"At the six months period end, 30 June 2026, 54.60% (31/12/25:","page_number":51,"box":{"x":57,"y":498,"width":420,"height":10}},{"id":"0e7bf5a9-985a-4509-8071-91bf9805a4ce","block_type":"box","text":"68.49%) of the shares in issue were held by The Royal London","page_number":51,"box":{"x":57,"y":512,"width":420,"height":10}},{"id":"0aaef158-f084-4806-ad10-d1664ecbadbc","block_type":"box","text":"Mutual Insurance Society Limited. Royal London Unit Trust","page_number":51,"box":{"x":58,"y":527,"width":420,"height":10}},{"id":"57a23ce0-91fa-4d91-b89f-28b5d243573d","block_type":"box","text":"Managers Limited is a wholly owned subsidiary of The Royal","page_number":51,"box":{"x":58,"y":541,"width":419,"height":10}},{"id":"f6f1ae07-7f76-454d-963c-957ccd780d96","block_type":"box","text":"London Mutual Insurance Society Limited.","page_number":51,"box":{"x":58,"y":555,"width":282,"height":10}},{"id":"5e899e57-f96f-4e87-a153-1ca31184260b","block_type":"box","text":"3. Fair value of investments","page_number":51,"box":{"x":522,"y":151,"width":255,"height":9}},{"id":"39057e83-0167-4ffb-bc1c-2d237523e8c6","block_type":"box","text":"The fair values of the Fund’s assets and liabilities are","page_number":51,"box":{"x":521,"y":169,"width":421,"height":8}},{"id":"c8a1cd7c-3973-4a4d-bcd3-6b5ec15cd170","block_type":"box","text":"represented by the values shown in the balance sheet. There","page_number":51,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"44b7db76-9c7a-4ae0-a246-c3cd75b4a641","block_type":"box","text":"is no material difference between the value of the financial","page_number":51,"box":{"x":522,"y":198,"width":419,"height":8}},{"id":"40efba18-6e02-4a47-9b8a-31153a2a4e5c","block_type":"box","text":"assets and liabilities, as shown in the balance sheet, and their","page_number":51,"box":{"x":521,"y":212,"width":422,"height":9}},{"id":"aa5ba733-a9e7-4fac-a4f4-4416625d38e5","block_type":"box","text":"fair value.","page_number":51,"box":{"x":521,"y":226,"width":64,"height":8}},{"id":"749ca7ba-a150-45fb-8bbb-a9c9d21d8ceb","block_type":"box","text":"The fair value of investments has been determined using the","page_number":51,"box":{"x":521,"y":247,"width":421,"height":10}},{"id":"4cc669fd-0d63-43e3-b0a9-7a8d55e77d99","block_type":"box","text":"following hierarchy:","page_number":51,"box":{"x":521,"y":262,"width":130,"height":10}},{"id":"af44e0f0-acdd-487b-ad4d-91991d6e7788","block_type":"box","text":"Level 1","page_number":51,"box":{"x":522,"y":283,"width":45,"height":7}},{"id":"7a278644-38fe-4950-9352-94fbb812deca","block_type":"box","text":"The unadjusted quoted price in an active market","page_number":51,"box":{"x":593,"y":283,"width":349,"height":10}},{"id":"e884679f-13a3-493a-b71e-62e101c7e867","block_type":"box","text":"for identical assets or liabilities that the entity can","page_number":51,"box":{"x":592,"y":297,"width":349,"height":10}},{"id":"e055debb-09f6-44a4-8daa-65f04388d8b2","block_type":"box","text":"access at the measurement date.","page_number":51,"box":{"x":593,"y":311,"width":224,"height":8}},{"id":"88694598-2224-4c0f-93e0-9d834705fea4","block_type":"box","text":"Level 2","page_number":51,"box":{"x":522,"y":332,"width":47,"height":8}},{"id":"867c1289-95d5-4873-adde-e59bfef27fba","block_type":"box","text":"Inputs other than quoted prices included within","page_number":51,"box":{"x":594,"y":332,"width":347,"height":10}},{"id":"dce272ad-c101-45a4-b451-6605b0f56e78","block_type":"box","text":"Level 1 that are observable (i.e. developed using","page_number":51,"box":{"x":593,"y":346,"width":348,"height":10}},{"id":"88116cea-d297-4416-870d-03cb7e0066db","block_type":"box","text":"market data) for the asset or liability, either directly","page_number":51,"box":{"x":593,"y":361,"width":349,"height":10}},{"id":"5d8a1823-6f22-43ce-8ebd-3b3e125504dc","block_type":"box","text":"or indirectly.","page_number":51,"box":{"x":593,"y":375,"width":80,"height":10}},{"id":"c27c5579-96c0-46bf-925e-9e61ecc8ddc1","block_type":"box","text":"Level 3","page_number":51,"box":{"x":522,"y":396,"width":47,"height":8}},{"id":"450010d7-ccca-4f67-96bb-5ce7fc60791c","block_type":"box","text":"Inputs are unobservable (i.e. for which market data","page_number":51,"box":{"x":594,"y":396,"width":348,"height":10}},{"id":"2b7c810c-18b2-44a7-94ba-49a242ea437b","block_type":"box","text":"is unavailable) for the asset or liability.","page_number":51,"box":{"x":593,"y":410,"width":255,"height":10}},{"id":"33aace66-2637-4cb1-ac60-25bfb9a5608f","block_type":"box","text":"As at the period ended 30","page_number":51,"box":{"x":521,"y":431,"width":186,"height":10}},{"id":"7b98d4f9-a92a-4416-bd3e-480be05adc15","block_type":"box","text":"June 2026","page_number":51,"box":{"x":713,"y":431,"width":73,"height":8}},{"id":"f9d2d34e-15ec-4394-98c7-9066aabac636","block_type":"box","text":"Level","page_number":51,"box":{"x":522,"y":456,"width":28,"height":6}},{"id":"821842b3-f4fb-462f-b0e0-c2d2ab5a3aa7","block_type":"box","text":"1","page_number":51,"box":{"x":718,"y":456,"width":3,"height":6}},{"id":"ffce0c36-c5f9-4042-8b13-b8169fdd2b24","block_type":"box","text":"2","page_number":51,"box":{"x":788,"y":456,"width":6,"height":6}},{"id":"3f01da8f-3222-44ac-aa6f-44b26f305d7e","block_type":"box","text":"3","page_number":51,"box":{"x":860,"y":456,"width":6,"height":6}},{"id":"7c425b8f-e924-4f1d-a7eb-bf503a9d0f94","block_type":"box","text":"Total","page_number":51,"box":{"x":910,"y":456,"width":27,"height":6}},{"id":"f42af559-0965-44c8-9ada-2e68a4db9cee","block_type":"box","text":"£’000","page_number":51,"box":{"x":693,"y":466,"width":30,"height":6}},{"id":"8c6f74b8-3bdc-47f8-906b-f06e13a20190","block_type":"box","text":"£’000","page_number":51,"box":{"x":764,"y":466,"width":30,"height":6}},{"id":"a47b12c6-be15-4adb-ac62-3e705aadaba2","block_type":"box","text":"£’000","page_number":51,"box":{"x":836,"y":466,"width":30,"height":6}},{"id":"bd889e1f-dbc6-41f9-ae94-d5db65779c0e","block_type":"box","text":"£’000","page_number":51,"box":{"x":907,"y":466,"width":30,"height":6}},{"id":"77ff0f57-2e68-4a3b-bfd8-e95076a5d7e6","block_type":"box","text":"Investments","page_number":51,"box":{"x":522,"y":484,"width":69,"height":6}},{"id":"a0cdaa1f-821f-436e-a7e1-3240f5a1d75f","block_type":"box","text":"Exchange Traded","page_number":51,"box":{"x":522,"y":502,"width":92,"height":7}},{"id":"64c8f059-c425-42d5-a042-1491bff65c0f","block_type":"box","text":"Funds and","page_number":51,"box":{"x":522,"y":511,"width":54,"height":6}},{"id":"58c6d207-e427-4e21-8d7d-83538698e01b","block_type":"box","text":"Commodities","page_number":51,"box":{"x":522,"y":521,"width":69,"height":6}},{"id":"1fb8368d-397b-4a57-882f-4598b94517f1","block_type":"box","text":"46,279","page_number":51,"box":{"x":686,"y":502,"width":37,"height":7}},{"id":"b93a96c9-65b2-419b-918f-66238182b9a2","block_type":"box","text":"–","page_number":51,"box":{"x":788,"y":505,"width":7,"height":1}},{"id":"cb2a4aa0-af75-43a5-9106-10a8df5ea377","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":505,"width":6,"height":1}},{"id":"47bc9cf3-8c4b-473f-a4cc-eb85263deb05","block_type":"box","text":"46,279","page_number":51,"box":{"x":901,"y":502,"width":36,"height":7}},{"id":"16749bda-89e9-44e0-9dd9-389f1901a0b3","block_type":"box","text":"Collective investment","page_number":51,"box":{"x":522,"y":538,"width":113,"height":6}},{"id":"226b58ee-a409-4bc8-9d26-340215d511e0","block_type":"box","text":"schemes","page_number":51,"box":{"x":521,"y":548,"width":48,"height":6}},{"id":"386f73c8-1278-478f-b819-51ee6f3a222b","block_type":"box","text":"–","page_number":51,"box":{"x":717,"y":542,"width":6,"height":0}},{"id":"0021d15f-8bda-4204-a589-b4a7dad4658a","block_type":"box","text":"782,762","page_number":51,"box":{"x":752,"y":538,"width":42,"height":7}},{"id":"510c2169-7156-4c7c-aab5-63409fc6e3c1","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":542,"width":6,"height":0}},{"id":"c72046d5-70de-40c0-9f93-4779f6796ffa","block_type":"box","text":"782,762","page_number":51,"box":{"x":895,"y":538,"width":42,"height":7}},{"id":"5e0abd4d-1c19-4fcf-951d-f219eb222673","block_type":"box","text":"Derivatives","page_number":51,"box":{"x":522,"y":565,"width":58,"height":6}},{"id":"5fc2c3d9-85f0-40b4-b37d-ed28c258b12f","block_type":"box","text":"1,427","page_number":51,"box":{"x":695,"y":565,"width":28,"height":7}},{"id":"f620d288-94a6-4188-a4b6-24381c44e21e","block_type":"box","text":"468","page_number":51,"box":{"x":775,"y":565,"width":19,"height":6}},{"id":"cf5ac734-05b9-4d15-bb2c-c5bf26bf868e","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":569,"width":6,"height":0}},{"id":"92d9d0eb-783d-4d70-b0c9-e7db7d79fa12","block_type":"box","text":"1,895","page_number":51,"box":{"x":909,"y":565,"width":28,"height":7}},{"id":"bd03f8ed-a61e-44df-b524-212083397eed","block_type":"box","text":"Total","page_number":51,"box":{"x":521,"y":583,"width":27,"height":6}},{"id":"f989520b-bfd0-4ec3-b2aa-4a4308e82302","block_type":"box","text":"47,706","page_number":51,"box":{"x":688,"y":583,"width":35,"height":7}},{"id":"f3205855-f681-4c84-84fb-95065a136690","block_type":"box","text":"783,230","page_number":51,"box":{"x":751,"y":583,"width":43,"height":7}},{"id":"77636d88-6bcd-4271-bfc0-bf6c618aec19","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":586,"width":6,"height":1}},{"id":"b645385c-c456-4823-9869-c51f30fc5a26","block_type":"box","text":"830,936","page_number":51,"box":{"x":894,"y":583,"width":43,"height":7}},{"id":"8acd996b-9a04-488e-a603-ac09dc72b181","block_type":"box","text":"Investment liabilities","page_number":51,"box":{"x":522,"y":600,"width":119,"height":6}},{"id":"cf36dc12-6449-4f7c-b9df-d51e9a2464a7","block_type":"box","text":"Derivatives","page_number":51,"box":{"x":522,"y":618,"width":58,"height":6}},{"id":"29fe5c40-8915-4934-a3ee-33c1e2ebb1f0","block_type":"box","text":"(869)","page_number":51,"box":{"x":700,"y":618,"width":27,"height":7}},{"id":"94540b2b-488f-4cf2-a964-f3da30b95ef9","block_type":"box","text":"(75)","page_number":51,"box":{"x":778,"y":618,"width":20,"height":7}},{"id":"6ac23de6-6019-41b1-b4e3-426031b8dea8","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":621,"width":6,"height":1}},{"id":"3a4369cf-e319-486c-80fd-0471839827b0","block_type":"box","text":"(944)","page_number":51,"box":{"x":914,"y":618,"width":27,"height":7}},{"id":"7b198d44-c9f2-47a2-9cfe-f87f04a1eec7","block_type":"box","text":"Total","page_number":51,"box":{"x":521,"y":635,"width":27,"height":6}},{"id":"50c48a69-77b4-488e-b085-25800d9b46c9","block_type":"box","text":"(869)","page_number":51,"box":{"x":700,"y":635,"width":27,"height":8}},{"id":"fae96ced-b838-49cc-8957-aadfd1b2a9b7","block_type":"box","text":"(75)","page_number":51,"box":{"x":778,"y":635,"width":20,"height":8}},{"id":"dd83c074-faed-4af1-9f92-b61a2ddbec38","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":639,"width":6,"height":0}},{"id":"1f2be991-dbc1-4cdf-8bef-c88fff2885d5","block_type":"box","text":"(944)","page_number":51,"box":{"x":914,"y":635,"width":27,"height":8}},{"id":"16fb277e-9fbf-4d75-a681-22f644b024c8","block_type":"box","text":"As at the year ended 31","page_number":51,"box":{"x":521,"y":657,"width":168,"height":10}},{"id":"f54bcc0e-e78b-4666-9ac6-024aa42e1861","block_type":"box","text":"December 2025","page_number":51,"box":{"x":697,"y":657,"width":111,"height":8}},{"id":"0c5f4c8f-e476-421f-99e4-132dedc443cd","block_type":"box","text":"Level","page_number":51,"box":{"x":522,"y":682,"width":28,"height":6}},{"id":"dffd2471-2b32-4fdd-bb15-60f8b6701a5c","block_type":"box","text":"1","page_number":51,"box":{"x":718,"y":682,"width":3,"height":6}},{"id":"0886f4fe-338d-424b-bba3-12944f16bb78","block_type":"box","text":"2","page_number":51,"box":{"x":788,"y":682,"width":6,"height":6}},{"id":"eeaa49d8-530c-4e18-b85b-67104a776513","block_type":"box","text":"3","page_number":51,"box":{"x":860,"y":682,"width":6,"height":6}},{"id":"d280303d-1ac8-437d-99f0-38c42ccb9b15","block_type":"box","text":"Total","page_number":51,"box":{"x":910,"y":682,"width":27,"height":6}},{"id":"54a00064-d77e-4b9a-aece-a2c35c2cdf72","block_type":"box","text":"£’000","page_number":51,"box":{"x":693,"y":692,"width":30,"height":6}},{"id":"673b028a-baf9-4bb1-8e68-8fcb0a258245","block_type":"box","text":"£’000","page_number":51,"box":{"x":764,"y":692,"width":30,"height":6}},{"id":"31a6c1c6-3135-4ef5-bc2d-b163775cd198","block_type":"box","text":"£’000","page_number":51,"box":{"x":836,"y":692,"width":30,"height":6}},{"id":"bed056b3-1bf8-4ac6-8e91-23867fd1753c","block_type":"box","text":"£’000","page_number":51,"box":{"x":907,"y":692,"width":30,"height":6}},{"id":"9a8f6455-2bb9-4b80-953d-620e73fe42e9","block_type":"box","text":"Investments","page_number":51,"box":{"x":522,"y":710,"width":69,"height":6}},{"id":"9698ff85-8e8b-442c-a612-e850c66f2673","block_type":"box","text":"Exchange Traded","page_number":51,"box":{"x":522,"y":728,"width":92,"height":7}},{"id":"05f70725-19f7-4c66-bb40-88c366d03633","block_type":"box","text":"Funds and","page_number":51,"box":{"x":522,"y":737,"width":54,"height":6}},{"id":"7c876b89-76c1-4bf3-88ea-46184c6d602f","block_type":"box","text":"Commodities","page_number":51,"box":{"x":522,"y":747,"width":69,"height":6}},{"id":"4d9d51c7-451e-4d3c-a7bf-d0208a11de73","block_type":"box","text":"51,440","page_number":51,"box":{"x":688,"y":728,"width":35,"height":7}},{"id":"6e3ff56f-56b7-41f6-ab37-cee1aa610675","block_type":"box","text":"–","page_number":51,"box":{"x":788,"y":731,"width":7,"height":1}},{"id":"3debf1be-2d13-4709-ae55-40411151b31d","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":731,"width":6,"height":1}},{"id":"04e37a3f-7368-4fa4-9be6-da230e9478a6","block_type":"box","text":"51,440","page_number":51,"box":{"x":902,"y":728,"width":35,"height":7}},{"id":"5ba57232-79ea-4561-94db-4253de7e62d1","block_type":"box","text":"Collective investment","page_number":51,"box":{"x":522,"y":764,"width":113,"height":6}},{"id":"a63f2e78-31b8-4cfd-8ac1-282e88ccd751","block_type":"box","text":"schemes","page_number":51,"box":{"x":521,"y":774,"width":48,"height":6}},{"id":"6da876c6-c821-4e84-8ee6-6777fc8d5895","block_type":"box","text":"–","page_number":51,"box":{"x":717,"y":768,"width":6,"height":0}},{"id":"ed5aa873-638a-4fd7-aee7-a121c95072f8","block_type":"box","text":"700,308","page_number":51,"box":{"x":751,"y":764,"width":43,"height":7}},{"id":"b7d06e53-5e66-4a2d-abfe-7a0e66e264ff","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":768,"width":6,"height":0}},{"id":"aec1de21-f327-4395-b7c0-1b0c68a624d3","block_type":"box","text":"700,308","page_number":51,"box":{"x":894,"y":764,"width":43,"height":7}},{"id":"605ef08a-ba97-4f5d-8ef5-25164b83f367","block_type":"box","text":"Derivatives","page_number":51,"box":{"x":522,"y":791,"width":58,"height":6}},{"id":"ae049b81-0d4f-41b8-9ae3-d8d9b236c9d3","block_type":"box","text":"1,015","page_number":51,"box":{"x":696,"y":791,"width":27,"height":7}},{"id":"416c2af6-3146-4853-a030-747b49f7e8e4","block_type":"box","text":"24","page_number":51,"box":{"x":782,"y":791,"width":12,"height":6}},{"id":"3dd420b8-9536-4efa-a984-b41675b54ebc","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":795,"width":6,"height":0}},{"id":"6c977be8-077b-4593-bec9-320896b07bb7","block_type":"box","text":"1,039","page_number":51,"box":{"x":909,"y":791,"width":28,"height":7}},{"id":"33e03d6d-b981-42af-bc78-f82bf283a3c2","block_type":"box","text":"Total","page_number":51,"box":{"x":521,"y":809,"width":27,"height":6}},{"id":"e5635c0f-8f02-44de-8c05-942c79ba8f7f","block_type":"box","text":"52,455","page_number":51,"box":{"x":686,"y":809,"width":37,"height":7}},{"id":"dd09bb2a-daa7-4dbc-80bd-c5db49f8bdcc","block_type":"box","text":"700,332","page_number":51,"box":{"x":752,"y":809,"width":42,"height":7}},{"id":"a72b248d-c1c5-4d3a-acdb-a89ce8ec9a43","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":812,"width":6,"height":1}},{"id":"d0d98751-62ee-45d7-97c1-8d38be5bf4dc","block_type":"box","text":"752,787","page_number":51,"box":{"x":895,"y":809,"width":42,"height":7}},{"id":"3bb74cef-f75d-42b1-adc1-f4dd5d90560b","block_type":"box","text":"Investment liabilities","page_number":51,"box":{"x":522,"y":826,"width":119,"height":6}},{"id":"46ee0f90-9939-44c7-8a26-4765487dcf22","block_type":"box","text":"Derivatives","page_number":51,"box":{"x":522,"y":844,"width":58,"height":6}},{"id":"870983be-cbfa-4819-8852-5232793e7b1c","block_type":"box","text":"(667)","page_number":51,"box":{"x":700,"y":844,"width":27,"height":7}},{"id":"afc7b81e-5530-4081-b7a4-3f450cbb6851","block_type":"box","text":"(570)","page_number":51,"box":{"x":772,"y":844,"width":26,"height":7}},{"id":"189b6fac-57ca-4b1d-bb5c-befe9fe94768","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":847,"width":6,"height":1}},{"id":"33f8e0cd-e3e0-433c-ba5e-93726ff6db44","block_type":"box","text":"(1,237)","page_number":51,"box":{"x":905,"y":844,"width":36,"height":7}},{"id":"673d42d7-d6cc-4b92-9955-8824c1fac241","block_type":"box","text":"Total","page_number":51,"box":{"x":521,"y":861,"width":27,"height":6}},{"id":"2bd03c2a-9295-4155-a9e5-8ad0ff51ae88","block_type":"box","text":"(667)","page_number":51,"box":{"x":700,"y":861,"width":27,"height":8}},{"id":"120677cd-abdc-4f42-b401-4ff50730c0a5","block_type":"box","text":"(570)","page_number":51,"box":{"x":772,"y":861,"width":26,"height":8}},{"id":"10f1a32b-114f-45d6-a006-97357e78ed61","block_type":"box","text":"–","page_number":51,"box":{"x":860,"y":865,"width":6,"height":1}},{"id":"0a7b155a-9fd5-4623-a025-5c868d56d127","block_type":"box","text":"(1,237)","page_number":51,"box":{"x":904,"y":861,"width":37,"height":8}},{"id":"e4bdfcea-9a7e-437f-97a6-11da3bcdbd5d","block_type":"box","text":"Royal London GMAP Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":51,"box":{"x":486,"y":33,"width":427,"height":8}},{"id":"5f064c05-2d4d-4425-8f84-a11cb6dc6e13","block_type":"box","text":"51","page_number":51,"box":{"x":930,"y":33,"width":10,"height":6}},{"id":"72443665-e09e-4131-8935-52a23176399e","block_type":"box","text":"Manager’s Investment Report","page_number":52,"box":{"x":58,"y":151,"width":352,"height":14}},{"id":"29f4e78d-b419-400f-b9f9-3953487187e1","block_type":"box","text":"Cumulative Performance","page_number":52,"box":{"x":57,"y":181,"width":230,"height":9}},{"id":"8320b25e-029d-4427-8f6e-8a8ac4380529","block_type":"box","text":"(% change to 30/06/26)","page_number":52,"box":{"x":57,"y":203,"width":164,"height":10}},{"id":"54f83059-0bb5-4a08-937e-cef660e8b256","block_type":"box","text":"6 month","page_number":52,"box":{"x":242,"y":231,"width":46,"height":6}},{"id":"1777aaf1-3cd9-4625-8b90-6632a55ec74e","block_type":"box","text":"total","page_number":52,"box":{"x":263,"y":241,"width":25,"height":6}},{"id":"0abdd4fb-0132-487c-9b8a-6515259045aa","block_type":"box","text":"return","page_number":52,"box":{"x":254,"y":250,"width":34,"height":6}},{"id":"44134bda-fd1c-4c79-833b-77791c05219a","block_type":"box","text":"%","page_number":52,"box":{"x":279,"y":260,"width":9,"height":6}},{"id":"ed916a15-030b-4b83-998f-175bf7b7faf3","block_type":"box","text":"1 year","page_number":52,"box":{"x":316,"y":231,"width":34,"height":8}},{"id":"c6b57e46-6af1-4b76-ae64-2db115a7874a","block_type":"box","text":"total","page_number":52,"box":{"x":324,"y":241,"width":25,"height":6}},{"id":"e7585997-580f-4d51-8340-d15d4dd9dd40","block_type":"box","text":"return","page_number":52,"box":{"x":315,"y":250,"width":34,"height":6}},{"id":"f6d424f4-0ded-4503-a3ce-04456786f406","block_type":"box","text":"%","page_number":52,"box":{"x":340,"y":260,"width":9,"height":6}},{"id":"3335fb61-ad9c-4fe8-8d52-aa01017001a8","block_type":"box","text":"3 year","page_number":52,"box":{"x":376,"y":231,"width":34,"height":8}},{"id":"8aaa4ee5-f3b7-4b89-aa9c-203eef8bb8b6","block_type":"box","text":"total","page_number":52,"box":{"x":385,"y":241,"width":24,"height":6}},{"id":"f727508a-648c-469f-8b99-b75cd47d548e","block_type":"box","text":"return","page_number":52,"box":{"x":376,"y":250,"width":33,"height":6}},{"id":"a7c29f81-0134-47e9-96cf-72966f261723","block_type":"box","text":"%","page_number":52,"box":{"x":400,"y":260,"width":10,"height":6}},{"id":"cfccaae5-52ca-4959-8932-84ebb2c23f7d","block_type":"box","text":"5 year","page_number":52,"box":{"x":437,"y":231,"width":34,"height":8}},{"id":"544183b1-bce5-43ec-953a-7ffb30d9af61","block_type":"box","text":"total","page_number":52,"box":{"x":445,"y":241,"width":25,"height":6}},{"id":"4f5a5e4c-0c30-494d-bf7a-e1a9d259278e","block_type":"box","text":"return","page_number":52,"box":{"x":436,"y":250,"width":34,"height":6}},{"id":"68d5ad1a-5488-455d-ad41-553e138902a7","block_type":"box","text":"%","page_number":52,"box":{"x":461,"y":260,"width":9,"height":6}},{"id":"5ddc1575-c681-4155-9f4f-83c2ae9aacec","block_type":"box","text":"Royal London GMAP","page_number":52,"box":{"x":58,"y":279,"width":111,"height":8}},{"id":"713e5dae-fdb4-4b4e-b8d2-4abf42ceb3f4","block_type":"box","text":"Dynamic Equity Fund,","page_number":52,"box":{"x":58,"y":289,"width":115,"height":8}},{"id":"c0fea7dd-1df2-4a91-b866-33126e67eafd","block_type":"box","text":"Class M Accumulation","page_number":52,"box":{"x":57,"y":298,"width":118,"height":7}},{"id":"f991b8b1-c595-453c-aa64-085506a98611","block_type":"box","text":"11.82","page_number":52,"box":{"x":261,"y":280,"width":27,"height":6}},{"id":"9fedbe41-629d-4840-986f-c20861a1a59c","block_type":"box","text":"27.38","page_number":52,"box":{"x":321,"y":280,"width":28,"height":6}},{"id":"88ddb4b3-19ff-49d8-975f-f05980cf7793","block_type":"box","text":"58.40","page_number":52,"box":{"x":380,"y":280,"width":30,"height":6}},{"id":"5af3803c-e15c-4273-b1cf-13f20b642bb2","block_type":"box","text":"69.12","page_number":52,"box":{"x":443,"y":280,"width":27,"height":6}},{"id":"b91feb86-7f01-4fec-aa16-41f0377edd1e","block_type":"box","text":"Royal London GMAP","page_number":52,"box":{"x":58,"y":318,"width":111,"height":8}},{"id":"40269f4c-6b52-49e9-bb94-eab9cf318df6","block_type":"box","text":"Dynamic Equity Fund,","page_number":52,"box":{"x":58,"y":328,"width":115,"height":7}},{"id":"125834e3-3ca3-4831-94c0-49915bc50710","block_type":"box","text":"Class M Income","page_number":52,"box":{"x":57,"y":337,"width":85,"height":6}},{"id":"a0d1f592-3c5b-4c9c-b101-fe808aa29ec8","block_type":"box","text":"11.84","page_number":52,"box":{"x":261,"y":318,"width":27,"height":6}},{"id":"e5d06966-ffc6-4103-a5de-3cf1ac50a47f","block_type":"box","text":"27.40","page_number":52,"box":{"x":321,"y":318,"width":28,"height":6}},{"id":"156472a6-4c18-4e5e-9414-a9de7b0b75e5","block_type":"box","text":"58.35","page_number":52,"box":{"x":380,"y":318,"width":30,"height":6}},{"id":"91fd0087-44d0-48c2-a83e-aee3da8f63dd","block_type":"box","text":"69.07","page_number":52,"box":{"x":441,"y":318,"width":29,"height":6}},{"id":"780a2d40-7d4e-4030-8cd8-9fed3819083e","block_type":"box","text":"Royal London GMAP","page_number":52,"box":{"x":58,"y":357,"width":111,"height":7}},{"id":"1dea8602-9a75-4b2f-b35f-cca3b5071772","block_type":"box","text":"Dynamic Equity Fund,","page_number":52,"box":{"x":58,"y":366,"width":115,"height":8}},{"id":"a54a7ea8-b8ae-479d-a558-6b09db85f5e7","block_type":"box","text":"Class P Accumulation","page_number":52,"box":{"x":57,"y":376,"width":116,"height":6}},{"id":"dd15781a-c141-4535-943f-056deac1ed63","block_type":"box","text":"11.89","page_number":52,"box":{"x":261,"y":357,"width":27,"height":6}},{"id":"2b3d48fd-734d-44dc-a036-178d44de2716","block_type":"box","text":"27.45","page_number":52,"box":{"x":321,"y":357,"width":28,"height":6}},{"id":"0f2a845c-b766-4728-b4cc-7c38c2ce810e","block_type":"box","text":"59.07","page_number":52,"box":{"x":381,"y":357,"width":29,"height":6}},{"id":"b7511b84-7193-496b-bb75-7834877c9268","block_type":"box","text":"69.87","page_number":52,"box":{"x":441,"y":357,"width":29,"height":6}},{"id":"b2497fd8-8c52-454c-9dd2-e7c43894ef90","block_type":"box","text":"Royal London GMAP","page_number":52,"box":{"x":58,"y":395,"width":111,"height":8}},{"id":"dfe14657-5899-4d32-965d-c22ab5007a2a","block_type":"box","text":"Dynamic Equity Fund,","page_number":52,"box":{"x":58,"y":405,"width":115,"height":7}},{"id":"5926e2bf-a5b8-4710-8241-014cc05bd46e","block_type":"box","text":"Class R Accumulation","page_number":52,"box":{"x":57,"y":414,"width":117,"height":6}},{"id":"d356188c-df44-42fe-adce-b28cf2886759","block_type":"box","text":"12.04","page_number":52,"box":{"x":260,"y":395,"width":28,"height":6}},{"id":"812fb594-6648-4a0c-ae94-e4cb537c5174","block_type":"box","text":"27.86","page_number":52,"box":{"x":321,"y":395,"width":28,"height":6}},{"id":"f9d96cff-42e3-4e14-bfa4-0070b4093485","block_type":"box","text":"60.32","page_number":52,"box":{"x":380,"y":395,"width":30,"height":6}},{"id":"5bca0ab6-756a-47e1-b297-cff18042b61f","block_type":"box","text":"72.60","page_number":52,"box":{"x":441,"y":395,"width":29,"height":6}},{"id":"1759fc84-be1f-46d9-90f6-d30864338a54","block_type":"box","text":"Royal London GMAP","page_number":52,"box":{"x":58,"y":434,"width":111,"height":7}},{"id":"077a9752-1483-4ecd-b0d4-638bcba3c81e","block_type":"box","text":"Dynamic Equity Fund,","page_number":52,"box":{"x":58,"y":443,"width":115,"height":8}},{"id":"0f4fe1e5-7b4c-4c66-8e53-061a520df565","block_type":"box","text":"Class S Accumulation","page_number":52,"box":{"x":57,"y":453,"width":116,"height":6}},{"id":"f2beb967-afc2-45a4-8f1e-92c89f8087dc","block_type":"box","text":"12.03","page_number":52,"box":{"x":260,"y":434,"width":28,"height":6}},{"id":"3bfaba87-0ca2-46db-924d-87249a704f07","block_type":"box","text":"27.84","page_number":52,"box":{"x":321,"y":434,"width":28,"height":6}},{"id":"f3bebd04-24e8-4c98-bec1-b5f157d0d097","block_type":"box","text":"–","page_number":52,"box":{"x":404,"y":437,"width":6,"height":1}},{"id":"f9432c3c-4184-4639-b725-c47b7a5bd788","block_type":"box","text":"–","page_number":52,"box":{"x":464,"y":437,"width":7,"height":1}},{"id":"0f95b0fa-8106-49d9-9b49-a2b45c6d18e5","block_type":"box","text":"Royal London GMAP Dynamic","page_number":52,"box":{"x":58,"y":472,"width":162,"height":8}},{"id":"8a0bba07-2e05-49aa-a869-0429664b94ea","block_type":"box","text":"Equity Class Z Accumulation","page_number":52,"box":{"x":58,"y":482,"width":151,"height":7}},{"id":"8274436d-3fcd-46e3-8816-b9877b8f3264","block_type":"box","text":"11.90","page_number":52,"box":{"x":261,"y":472,"width":27,"height":6}},{"id":"d869ef30-078c-4cbd-90c6-426f48400cd7","block_type":"box","text":"27.61","page_number":52,"box":{"x":321,"y":472,"width":26,"height":6}},{"id":"3641de25-7374-41e4-bfae-ce07299c8301","block_type":"box","text":"59.14","page_number":52,"box":{"x":382,"y":472,"width":28,"height":6}},{"id":"ed74511a-6840-4c67-ab02-bfd50d615977","block_type":"box","text":"–","page_number":52,"box":{"x":464,"y":476,"width":7,"height":0}},{"id":"34f49b4f-d595-4ae6-a9a8-82919c01f104","block_type":"box","text":"GMAP Dynamic Equity","page_number":52,"box":{"x":57,"y":501,"width":122,"height":8}},{"id":"9e1d5ba3-90b7-43b8-9c64-dd82e3be0a3d","block_type":"box","text":"Composite Benchmark*","page_number":52,"box":{"x":57,"y":511,"width":126,"height":7}},{"id":"a5afa07b-b5ca-40cd-b440-e369317d37da","block_type":"box","text":"13.96","page_number":52,"box":{"x":260,"y":501,"width":28,"height":6}},{"id":"a10fee74-e15f-49bc-a9a1-b5dcacee5bc1","block_type":"box","text":"30.24","page_number":52,"box":{"x":320,"y":501,"width":29,"height":6}},{"id":"029d4b0a-8f49-410c-96ac-ea6e50f12aeb","block_type":"box","text":"68.18","page_number":52,"box":{"x":382,"y":501,"width":28,"height":6}},{"id":"fe4b0461-67be-4e47-ad8c-fccfc428ed0e","block_type":"box","text":"81.02","page_number":52,"box":{"x":442,"y":501,"width":28,"height":6}},{"id":"59bf967d-9c97-4e3f-8a8b-65afb503f0e7","block_type":"box","text":"IA Global Sector Total Return","page_number":52,"box":{"x":58,"y":530,"width":155,"height":6}},{"id":"0c646bcd-e2f5-4123-85f7-536133d1e6ae","block_type":"box","text":"(TR)","page_number":52,"box":{"x":57,"y":540,"width":23,"height":7}},{"id":"26691397-e57c-4908-b62e-3e4ceacf056d","block_type":"box","text":"9.24","page_number":52,"box":{"x":266,"y":530,"width":22,"height":6}},{"id":"403e51b7-dae6-4a93-8e62-0191b45273f0","block_type":"box","text":"20.29","page_number":52,"box":{"x":319,"y":530,"width":30,"height":6}},{"id":"e9a204e3-8d62-4654-bbdc-bc0db921a059","block_type":"box","text":"44.39","page_number":52,"box":{"x":380,"y":530,"width":30,"height":6}},{"id":"1c8029fd-a9e1-49d2-b1d9-dcfe1d765de3","block_type":"box","text":"45.40","page_number":52,"box":{"x":441,"y":530,"width":29,"height":6}},{"id":"3b17d65c-0e9c-4540-917c-f2ba83981f1b","block_type":"box","text":"* Benchmark","page_number":52,"box":{"x":57,"y":567,"width":69,"height":7}},{"id":"9cf352fe-fe1b-44ba-b01b-a207cbad36f4","block_type":"box","text":"Class Z Accumulation launched on 31 January 2023 and Class S Accumulation","page_number":52,"box":{"x":57,"y":582,"width":420,"height":7}},{"id":"84f2a264-38f8-4cd8-ba54-4df377c12aa1","block_type":"box","text":"launched on 30 September 2024.","page_number":52,"box":{"x":57,"y":592,"width":176,"height":8}},{"id":"fd6d833a-ae2d-4998-9abc-1541f85edb3a","block_type":"box","text":"Past performance is not necessarily a reliable indicator","page_number":52,"box":{"x":58,"y":611,"width":420,"height":10}},{"id":"dc91f475-0178-4de2-b6ed-a963a9631ecf","block_type":"box","text":"of future performance. The value of investments and the","page_number":52,"box":{"x":57,"y":626,"width":420,"height":10}},{"id":"1225fea6-2434-47e9-a3e8-9150f6531380","block_type":"box","text":"income from them is not guaranteed and may go down","page_number":52,"box":{"x":58,"y":640,"width":419,"height":10}},{"id":"ec935329-ae8c-4791-8b6b-910a64c61805","block_type":"box","text":"as well as up and investors may not get back the amount","page_number":52,"box":{"x":57,"y":654,"width":421,"height":10}},{"id":"3d4bfa0d-f466-486e-ab74-6a848e03cd3c","block_type":"box","text":"originally invested.","page_number":52,"box":{"x":57,"y":669,"width":138,"height":9}},{"id":"05f7b7d3-01bf-4768-93e8-b1e665dad013","block_type":"box","text":"Source: Royal London Asset Management Limited and","page_number":52,"box":{"x":57,"y":689,"width":420,"height":10}},{"id":"4be9c73e-19a4-405b-b6c6-03933d0efa6a","block_type":"box","text":"Morningstar, as at 30","page_number":52,"box":{"x":58,"y":704,"width":165,"height":10}},{"id":"ef6cddfb-0f7c-42c4-9f65-82b600853cd3","block_type":"box","text":"June 2026. Returns are net of","page_number":52,"box":{"x":237,"y":704,"width":242,"height":8}},{"id":"a39ce53c-1167-40ca-8f15-6627eab6ce58","block_type":"box","text":"management fees. Investors should also note that the total","page_number":52,"box":{"x":58,"y":718,"width":419,"height":10}},{"id":"10490515-e931-4963-8fd3-4526bfd0bd72","block_type":"box","text":"return is calculated on the Fund’s official 2pm price whereas the","page_number":52,"box":{"x":58,"y":732,"width":419,"height":10}},{"id":"3eefb2bb-f12e-4c46-8fce-aad020c13c20","block_type":"box","text":"Fund has been valued as at close of business for the Closing","page_number":52,"box":{"x":58,"y":746,"width":419,"height":10}},{"id":"4db17379-61cc-41c5-92a9-770008aaf8a3","block_type":"box","text":"Net Asset Value quoted within the Comparative Table. For","page_number":52,"box":{"x":58,"y":761,"width":420,"height":10}},{"id":"b02b5dbb-5d02-42b5-a806-0c467ae98f94","block_type":"box","text":"further information, including ongoing performance and Fund","page_number":52,"box":{"x":57,"y":775,"width":420,"height":10}},{"id":"d9ed92fb-dd48-433d-baa0-41c0aca956be","block_type":"box","text":"breakdown information, please refer to the latest factsheet at","page_number":52,"box":{"x":58,"y":789,"width":420,"height":10}},{"id":"c727cb50-a77a-41af-b894-e08836a9bd04","block_type":"box","text":"www.rlam.com.","page_number":52,"box":{"x":57,"y":804,"width":103,"height":7}},{"id":"6b8ac75a-351f-4a05-bdc4-95e980b5544d","block_type":"box","text":"Fund objective","page_number":52,"box":{"x":522,"y":151,"width":135,"height":11}},{"id":"fa6d33df-efa9-4bf5-9891-bb554acd1c99","block_type":"box","text":"The Fund’s investment objective is to achieve capital growth","page_number":52,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"377e1289-01a9-4a7c-9c79-3ec3cb74ac64","block_type":"box","text":"over the medium term, which should be considered as a period","page_number":52,"box":{"x":521,"y":184,"width":420,"height":10}},{"id":"046ed3f2-bb26-4992-8836-869c2badd727","block_type":"box","text":"of 3-5 years, by predominantly (ie at least 80%) investing in","page_number":52,"box":{"x":521,"y":198,"width":420,"height":10}},{"id":"4ab06971-09f1-471d-a520-baf8bdabd3da","block_type":"box","text":"UK and overseas shares through investment in Collective","page_number":52,"box":{"x":522,"y":212,"width":420,"height":10}},{"id":"cf050dd6-3064-49f4-a464-59b79f5a6b6a","block_type":"box","text":"Investment Schemes (CIS). The Fund forms part of the Royal","page_number":52,"box":{"x":522,"y":226,"width":419,"height":10}},{"id":"918762d4-b49c-44a5-9ed9-73b6320c0cb6","block_type":"box","text":"London Global Multi-Asset Portfolio (GMAP) range. Each Fund","page_number":52,"box":{"x":522,"y":241,"width":419,"height":10}},{"id":"2283f697-f93e-429c-ba10-9227dfed10f4","block_type":"box","text":"in the range is assigned a level of potential risk and return","page_number":52,"box":{"x":522,"y":255,"width":419,"height":10}},{"id":"58c160a8-9adc-4afa-b826-25b06b1300c7","block_type":"box","text":"relative to the other funds in the range. Within this range,","page_number":52,"box":{"x":522,"y":269,"width":419,"height":10}},{"id":"920523d5-255c-4e23-8dd4-3f9dfc637116","block_type":"box","text":"this Fund aims to achieve a high level of risk and return. The","page_number":52,"box":{"x":521,"y":283,"width":421,"height":10}},{"id":"0c9fe481-e112-47e1-8f0d-32ada6934f9b","block_type":"box","text":"Fund is actively managed, meaning that the manager will use","page_number":52,"box":{"x":522,"y":298,"width":420,"height":10}},{"id":"a53d185c-03b0-4296-8290-6c53dc7294be","block_type":"box","text":"their expertise to select investments to meet the objective.","page_number":52,"box":{"x":521,"y":312,"width":420,"height":10}},{"id":"db147ac3-b06c-4c61-bdf0-2411d4beee03","block_type":"box","text":"The Fund’s custom composite benchmark is considered an","page_number":52,"box":{"x":521,"y":326,"width":420,"height":10}},{"id":"2893acbc-26c4-4758-b4eb-2529a9bafc86","block_type":"box","text":"appropriate benchmark for performance comparison purposes.","page_number":52,"box":{"x":521,"y":340,"width":420,"height":10}},{"id":"b011249a-52c8-4d7e-a886-d9d886aadc0c","block_type":"box","text":"Performance overview","page_number":52,"box":{"x":522,"y":367,"width":209,"height":9}},{"id":"21512d35-7b3a-4a11-8add-5dbdb5d7899e","block_type":"box","text":"The Fund outperformed the benchmark during the period","page_number":52,"box":{"x":521,"y":386,"width":420,"height":10}},{"id":"1dc79015-780c-49fb-a769-208ca70934b7","block_type":"box","text":"under review.","page_number":52,"box":{"x":522,"y":400,"width":88,"height":8}},{"id":"c0dba7a3-7e12-45a1-9e4f-dfffdda4f3b1","block_type":"box","text":"Market overview","page_number":52,"box":{"x":522,"y":427,"width":154,"height":9}},{"id":"3c2834cb-6393-4681-9201-a68e65b73bdf","block_type":"box","text":"Geopolitical tensions in the Middle East were a key driver of","page_number":52,"box":{"x":522,"y":445,"width":421,"height":10}},{"id":"b27c2ef2-14d9-4740-aeac-405b1baa318d","block_type":"box","text":"markets over the period, which saw commodities rise materially","page_number":52,"box":{"x":522,"y":460,"width":420,"height":10}},{"id":"7ee93555-19cc-4807-b661-9ec30313cdf3","block_type":"box","text":"over the start of the year. Despite this, global equity markets","page_number":52,"box":{"x":521,"y":474,"width":421,"height":10}},{"id":"c8884d60-8d6d-469f-a6be-9e0b5347994e","block_type":"box","text":"performed well over the period, with euphoria around Artificial","page_number":52,"box":{"x":522,"y":488,"width":419,"height":10}},{"id":"45ca46c1-0555-4292-aec5-65870c7b097a","block_type":"box","text":"Intelligence (AI) once again boosting investor sentiment.","page_number":52,"box":{"x":522,"y":502,"width":419,"height":10}},{"id":"4ce50daf-3a89-4f09-8563-e4b07bfabca6","block_type":"box","text":"Semiconductor companies, which are at the heart of the AI","page_number":52,"box":{"x":522,"y":517,"width":419,"height":10}},{"id":"b5a7b175-05d5-4a81-acc2-8b1b9ff2b060","block_type":"box","text":"infrastructure buildout, were beneficiaries, rising sharply.","page_number":52,"box":{"x":522,"y":531,"width":419,"height":10}},{"id":"bc24d71e-d9f1-4910-ba49-4df9290cb7bb","block_type":"box","text":"Bond yields ended the period higher, as rising inflation risk","page_number":52,"box":{"x":522,"y":545,"width":420,"height":10}},{"id":"258a6733-4be2-4845-99a1-7b9b15aae073","block_type":"box","text":"saw markets moved to price in interest rate hikes from global","page_number":52,"box":{"x":521,"y":559,"width":420,"height":10}},{"id":"33e1eba9-bfd0-417b-a94f-372db3875171","block_type":"box","text":"central banks.","page_number":52,"box":{"x":522,"y":574,"width":94,"height":8}},{"id":"3eec916a-1158-4e06-98e3-ceeea2a7c7cd","block_type":"box","text":"Portfolio commentary","page_number":52,"box":{"x":522,"y":600,"width":202,"height":12}},{"id":"320d0bd0-92f0-4dd0-90d0-1b2e333386b0","block_type":"box","text":"At the regional level, tactical positioning has mostly been","page_number":52,"box":{"x":521,"y":619,"width":420,"height":10}},{"id":"01fa7a9f-0413-4859-aca6-36ac74d9511e","block_type":"box","text":"overweight Japan, the US and emerging markets supported","page_number":52,"box":{"x":521,"y":633,"width":420,"height":10}},{"id":"a98ac36f-c359-404b-ba13-63b79143ce2d","block_type":"box","text":"by strong earnings and the enthusiasm around AI stocks. The","page_number":52,"box":{"x":522,"y":648,"width":420,"height":9}},{"id":"eb900d5a-6abf-45e7-8f9a-506d0a74e99d","block_type":"box","text":"Fund also remained tactically underweight Europe throughout","page_number":52,"box":{"x":522,"y":662,"width":420,"height":10}},{"id":"f1f4ef5e-2648-43ea-b637-02e804459c8c","block_type":"box","text":"most of the period as earnings continued to be lacklustre and","page_number":52,"box":{"x":522,"y":676,"width":419,"height":10}},{"id":"62694642-0130-4140-8269-0411c9f14192","block_type":"box","text":"the region suffered with its greater sensitivity to the higher","page_number":52,"box":{"x":521,"y":690,"width":422,"height":10}},{"id":"8d95e005-022b-4345-bdc7-8a685bedf9e3","block_type":"box","text":"energy prices.","page_number":52,"box":{"x":521,"y":705,"width":95,"height":10}},{"id":"07c80515-2ecd-448d-92e3-4d2819ad5261","block_type":"box","text":"US sector positioning in the Fund remained modest over the","page_number":52,"box":{"x":522,"y":725,"width":420,"height":10}},{"id":"4a426083-5449-4fea-b861-2a1925ea1901","block_type":"box","text":"period. In the first part of the year, the Fund moved overweight","page_number":52,"box":{"x":522,"y":740,"width":420,"height":10}},{"id":"8986a914-6b03-4cc1-97a3-099ef522d7f0","block_type":"box","text":"energy as the conflict persisted and oil prices stayed elevated,","page_number":52,"box":{"x":521,"y":754,"width":420,"height":10}},{"id":"f9857bed-81ef-436d-a13e-79c643703e3e","block_type":"box","text":"before moving underweight as earnings outlook declined","page_number":52,"box":{"x":522,"y":768,"width":419,"height":10}},{"id":"c52f5e19-d15f-4bd0-87c9-58923107b5af","block_type":"box","text":"alongside a softening in oil prices late in the period. Elsewhere,","page_number":52,"box":{"x":521,"y":782,"width":420,"height":11}},{"id":"272c7edd-3db4-44a6-aae0-531122faefcb","block_type":"box","text":"the Fund was marginally overweight technology throughout,","page_number":52,"box":{"x":521,"y":797,"width":420,"height":10}},{"id":"7180ca14-5b53-4730-8fd5-b6c810c20efc","block_type":"box","text":"as the sector continued to be supported by strong relative","page_number":52,"box":{"x":521,"y":811,"width":421,"height":10}},{"id":"bad59608-0c43-43a5-aa19-7602b61adf9f","block_type":"box","text":"earnings growth.","page_number":52,"box":{"x":521,"y":825,"width":112,"height":10}},{"id":"46132a50-8354-4f61-b42d-f1825f4b9563","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund","page_number":52,"box":{"x":59,"y":94,"width":611,"height":17}},{"id":"1062173f-8710-4dcf-947b-95e759ce8264","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund | Royal London Multi-Asset Funds ICVC","page_number":52,"box":{"x":469,"y":33,"width":444,"height":8}},{"id":"71bf00c6-ecaa-4b4b-8933-3fcf81c9abc6","block_type":"box","text":"52","page_number":52,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"fc4ab74b-5f4d-42e5-acd5-1569141b148a","block_type":"box","text":"Manager’s Investment Report","page_number":53,"box":{"x":58,"y":94,"width":352,"height":14}},{"id":"e2fc632d-5861-40f2-8c16-77295c300df2","block_type":"box","text":"(continued)","page_number":53,"box":{"x":415,"y":97,"width":75,"height":10}},{"id":"eb9845c8-ccb9-445d-8f6d-a4faf25f9925","block_type":"box","text":"Investment outlook","page_number":53,"box":{"x":58,"y":151,"width":179,"height":9}},{"id":"dda50b68-f6f6-49a4-a082-26a35dad13ba","block_type":"box","text":"The Investment Clock is in Stagflation, reflecting the high oil","page_number":53,"box":{"x":57,"y":169,"width":420,"height":10}},{"id":"e57c6f8f-36bf-4f00-a8d0-e462fac44556","block_type":"box","text":"price and weaker business surveys amid the still uncertain US","page_number":53,"box":{"x":58,"y":184,"width":420,"height":10}},{"id":"29befe40-bcc2-4f51-a26f-bffcde1cb8e0","block_type":"box","text":"Iran conflict. Energy prices retreated last quarter on signs of a","page_number":53,"box":{"x":58,"y":198,"width":419,"height":10}},{"id":"04d0cc7b-8338-40de-99d4-347293753b4f","block_type":"box","text":"fragile peace deal, but tensions have since risen again.","page_number":53,"box":{"x":57,"y":212,"width":370,"height":10}},{"id":"c1d5fdae-6273-49e7-8df2-ac20a372c02c","block_type":"box","text":"The AI boom is raising corporate earnings of technology","page_number":53,"box":{"x":57,"y":233,"width":421,"height":10}},{"id":"508abdd2-8172-40f7-b7b3-80a118c9d7e3","block_type":"box","text":"stocks. Cycle-adjusted valuations are near dot com era levels.","page_number":53,"box":{"x":57,"y":247,"width":420,"height":10}},{"id":"996c7c73-5ad1-4767-b2e3-20a519dcc4b8","block_type":"box","text":"Innovation waves often get overblown in financial markets,","page_number":53,"box":{"x":58,"y":262,"width":419,"height":10}},{"id":"f777c188-6a49-460d-9bd8-f61cb2f6ad55","block_type":"box","text":"even when their long-term impact is transformative.","page_number":53,"box":{"x":57,"y":276,"width":345,"height":10}},{"id":"2fdb648d-1454-4034-acf1-cff624d8e91f","block_type":"box","text":"Please see our Investment Clock blog at www.rlam.com for our","page_number":53,"box":{"x":58,"y":297,"width":420,"height":10}},{"id":"724ded2b-e2c3-4ff9-94da-9abe9fad70f5","block_type":"box","text":"latest views.","page_number":53,"box":{"x":58,"y":311,"width":80,"height":8}},{"id":"ffcc45e3-c3b3-49df-9f4a-408abb2d52c0","block_type":"box","text":"Trevor Greetham","page_number":53,"box":{"x":57,"y":353,"width":121,"height":8}},{"id":"9be338d2-e7fd-4993-92f4-1eb4954f0740","block_type":"box","text":"Fund Manager","page_number":53,"box":{"x":58,"y":367,"width":103,"height":10}},{"id":"0b1b81a2-4022-43d8-a44b-ed48da1ca9e5","block_type":"box","text":"Royal London Asset Management Limited","page_number":53,"box":{"x":58,"y":382,"width":303,"height":10}},{"id":"ce38016e-2073-458a-ba78-0bb7faaef0a6","block_type":"box","text":"30","page_number":53,"box":{"x":57,"y":396,"width":16,"height":8}},{"id":"966f00e9-c16d-4b63-bad5-26d6c07034df","block_type":"box","text":"June 2026","page_number":53,"box":{"x":78,"y":396,"width":73,"height":8}},{"id":"d4466c9a-6a44-45d8-8d23-edd0f9b8a7bd","block_type":"box","text":"Please note that this commentary is written as at end of the","page_number":53,"box":{"x":58,"y":430,"width":419,"height":10}},{"id":"4842208a-835d-40a5-bb67-5eb62ae7ce81","block_type":"box","text":"review period. For insights into market events or positioning","page_number":53,"box":{"x":58,"y":443,"width":419,"height":10}},{"id":"e599073d-324f-472a-955f-392d96a88f97","block_type":"box","text":"since then, please go to www.rlam.com.","page_number":53,"box":{"x":57,"y":456,"width":270,"height":10}},{"id":"16e939f5-f846-4aab-bfc6-775465520bdd","block_type":"box","text":"This report covers investment performance, activity and","page_number":53,"box":{"x":57,"y":472,"width":420,"height":10}},{"id":"afcb3f9b-6d2e-4d2b-ad06-228271315d89","block_type":"box","text":"outlook. For a wider look at the Fund, our Annual Assessment","page_number":53,"box":{"x":57,"y":486,"width":421,"height":9}},{"id":"4e3295fb-cc1d-4e0e-b04e-647547bb167a","block_type":"box","text":"of Value report is available at www.rlam.com.","page_number":53,"box":{"x":57,"y":499,"width":305,"height":9}},{"id":"a437b118-cee0-4030-95ad-659fa22b8e97","block_type":"box","text":"For further help on some of the terms used, please see our","page_number":53,"box":{"x":58,"y":515,"width":420,"height":10}},{"id":"6158b874-a1a5-4dcd-be4b-a037e4cd50aa","block_type":"box","text":"glossary at www.rlam.com/uk/individual-investors/glossary.","page_number":53,"box":{"x":57,"y":528,"width":400,"height":10}},{"id":"c4b73543-2c52-4d51-87e7-cac845a9e14d","block_type":"box","text":"The Task Force on Climate-related Financial Disclosures","page_number":53,"box":{"x":57,"y":545,"width":420,"height":7}},{"id":"f83cc032-5dea-4479-9ca2-a3db8e9a56ff","block_type":"box","text":"(TCFD) Report can be found under the relevant Fund name","page_number":53,"box":{"x":58,"y":558,"width":419,"height":10}},{"id":"596f5ae9-513d-4723-9cf8-ab662aaaf115","block_type":"box","text":"at","page_number":53,"box":{"x":57,"y":571,"width":13,"height":8}},{"id":"dc727621-bcd0-4165-90bf-d2cfdc10d3e1","block_type":"box","text":"https://www.rlam.com/uk/individual-investors/funds","page_number":53,"box":{"x":81,"y":571,"width":391,"height":10}},{"id":"5b25bec1-34fb-46b2-9bbf-22b620c64c81","block_type":"box","text":".","page_number":53,"box":{"x":475,"y":577,"width":2,"height":1}},{"id":"dfc90bae-4da6-4edb-84b5-5bbe5e3ed6f7","block_type":"box","text":"This report has been prepared in accordance with the","page_number":53,"box":{"x":57,"y":584,"width":420,"height":10}},{"id":"bc9a6a47-9110-471c-b0e2-1bd272fc1736","block_type":"box","text":"recommendations of the TCFD, which aims to help the","page_number":53,"box":{"x":58,"y":597,"width":419,"height":10}},{"id":"b3e6c7d4-afe4-4788-b29e-9361be8fb03d","block_type":"box","text":"investment community build a more in-depth and consistent","page_number":53,"box":{"x":58,"y":610,"width":420,"height":10}},{"id":"e3daae42-b26d-4ac6-87e1-1cbfa4c0d119","block_type":"box","text":"picture of the impact of climate change. A copy of Royal","page_number":53,"box":{"x":58,"y":623,"width":419,"height":10}},{"id":"cc782b82-8730-4f10-afba-7a6ba76bf49d","block_type":"box","text":"London Asset Management Limited’s annual TCFD Report","page_number":53,"box":{"x":58,"y":636,"width":420,"height":10}},{"id":"b78de06b-11cb-4b98-a2d1-d8960feab53d","block_type":"box","text":"can also be found on our website.","page_number":53,"box":{"x":57,"y":649,"width":228,"height":8}},{"id":"5f4b608b-966c-4d80-a025-4d54ca6843ea","block_type":"box","text":"The views expressed are the author’s own and do not","page_number":53,"box":{"x":57,"y":666,"width":421,"height":9}},{"id":"2689ccd3-5955-408f-8c30-c89ec8452c1b","block_type":"box","text":"constitute investment advice and are not an indication","page_number":53,"box":{"x":57,"y":679,"width":420,"height":7}},{"id":"15c937aa-8113-407c-a465-8db1ef723c75","block_type":"box","text":"of future Fund performance. Portfolio holdings are","page_number":53,"box":{"x":57,"y":692,"width":420,"height":10}},{"id":"be4d9e3e-15fa-43b2-8d0e-c09e089ca130","block_type":"box","text":"subject to change, for information only and are not","page_number":53,"box":{"x":57,"y":705,"width":421,"height":10}},{"id":"0663f163-67b9-4730-a882-e81d832ace82","block_type":"box","text":"investment recommendations.","page_number":53,"box":{"x":58,"y":718,"width":201,"height":8}},{"id":"a212764f-2dc9-4411-813d-9d8327a55e21","block_type":"box","text":"Source: Royal London Asset Management Limited, unless","page_number":53,"box":{"x":57,"y":734,"width":393,"height":10}},{"id":"defdc480-cd29-44cc-baa6-d09ba5d20f8e","block_type":"box","text":"otherwise stated.","page_number":53,"box":{"x":57,"y":747,"width":115,"height":8}},{"id":"c5acb49c-4884-4a65-abee-372c35b90959","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund | Royal London Multi-Asset Funds ICVC","page_number":53,"box":{"x":469,"y":33,"width":444,"height":8}},{"id":"83d7d480-d155-49a9-81dc-8cb8d3f53ced","block_type":"box","text":"53","page_number":53,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"1e8d8808-bfa9-4f5d-98f4-1c29cfb392a8","block_type":"box","text":"Class M Accumulation","page_number":54,"box":{"x":57,"y":151,"width":206,"height":9}},{"id":"9c59baab-3b0b-4681-bd1e-07dea3cca8a1","block_type":"box","text":"Change in net assets","page_number":54,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"7b7327de-db43-4195-862a-2963c688f927","block_type":"box","text":"30/06/26","page_number":54,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"3c79ba7c-f2eb-467a-96a4-d5da076a47a4","block_type":"box","text":"31/12/25","page_number":54,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"97b22b70-af66-478c-b9d5-c5aacb7fbceb","block_type":"box","text":"31/12/24","page_number":54,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"5026769a-b4bd-411b-b407-9484e13e651a","block_type":"box","text":"31/12/23","page_number":54,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"1f6c2b17-b4cd-43eb-a978-673962dd2e74","block_type":"box","text":"per share","page_number":54,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"30615188-d3e9-4407-b0e6-ed7340a0dcf7","block_type":"box","text":"(p)","page_number":54,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"8b73a20d-3c5c-407d-a77d-0e8226d38840","block_type":"box","text":"(p)","page_number":54,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"77c8ad55-1eea-4978-aad3-f202c3c25d2e","block_type":"box","text":"(p)","page_number":54,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"306cd3bc-8d95-4307-a47a-ae969da6e68a","block_type":"box","text":"(p)","page_number":54,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"36f82d7f-db3d-4734-b828-6e888ed9384b","block_type":"box","text":"Opening net asset","page_number":54,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"82eb4984-0fe5-4e70-8b29-4b43980e7b55","block_type":"box","text":"value per share","page_number":54,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"3e35738c-3e4f-4f44-8509-ea9304a27106","block_type":"box","text":"256.58","page_number":54,"box":{"x":222,"y":205,"width":36,"height":6}},{"id":"f96a56e6-32fb-4539-9630-c2ef89795165","block_type":"box","text":"224.69","page_number":54,"box":{"x":294,"y":205,"width":36,"height":6}},{"id":"6b235e23-2d7f-42a5-91a9-c997f7f3c6d8","block_type":"box","text":"193.77","page_number":54,"box":{"x":367,"y":205,"width":34,"height":6}},{"id":"8052f562-5ff9-407a-a627-f657c241c1d0","block_type":"box","text":"170.85","page_number":54,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"1c7c6884-6721-4cf4-a451-b003abd15251","block_type":"box","text":"Return before operating","page_number":54,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"1364d0e6-44a9-4c86-9a2b-58e29673fa69","block_type":"box","text":"charges*","page_number":54,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"ac8239ed-38a6-4581-9e7f-ba10e7788603","block_type":"box","text":"31.35","page_number":54,"box":{"x":230,"y":232,"width":29,"height":6}},{"id":"7caf3281-f497-48e8-9547-c33b18a1740e","block_type":"box","text":"33.29","page_number":54,"box":{"x":300,"y":232,"width":30,"height":6}},{"id":"da88e489-788c-4b34-aac5-8a02e43f97c2","block_type":"box","text":"32.19","page_number":54,"box":{"x":374,"y":232,"width":27,"height":6}},{"id":"19335ea6-8bec-4157-942a-5d61d6e58d12","block_type":"box","text":"24.01","page_number":54,"box":{"x":444,"y":232,"width":27,"height":6}},{"id":"4304b564-bcbb-4ab2-8dbf-eddd2857125e","block_type":"box","text":"Operating charges","page_number":54,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"509c3437-ee8f-48b2-8332-2e0bce98e4c1","block_type":"box","text":"(0.80)","page_number":54,"box":{"x":232,"y":259,"width":31,"height":8}},{"id":"723e5857-e1bf-480d-a122-95081f1281aa","block_type":"box","text":"(1.40)","page_number":54,"box":{"x":305,"y":259,"width":29,"height":8}},{"id":"f1a6b25d-3303-4743-9c98-29b149a6045c","block_type":"box","text":"(1.27)","page_number":54,"box":{"x":376,"y":259,"width":29,"height":8}},{"id":"61a9d8ea-3674-498c-93f2-75c733e0717e","block_type":"box","text":"(1.09)","page_number":54,"box":{"x":448,"y":259,"width":29,"height":8}},{"id":"8cd61b30-4590-4033-bdd0-95168af7330f","block_type":"box","text":"Return after operating","page_number":54,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"eff331ed-f570-44a7-a244-9e8d1ec00116","block_type":"box","text":"charges*","page_number":54,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"e69d2627-e076-4adc-ae54-d56fcc2b9d5e","block_type":"box","text":"30.55","page_number":54,"box":{"x":229,"y":276,"width":30,"height":6}},{"id":"d9f5aa2d-acd9-46cc-babe-36c406a28753","block_type":"box","text":"31.89","page_number":54,"box":{"x":301,"y":276,"width":29,"height":6}},{"id":"ec64a7fd-3179-49bf-8b64-0e26229e090a","block_type":"box","text":"30.92","page_number":54,"box":{"x":372,"y":276,"width":29,"height":6}},{"id":"4b78e08c-7a37-4af1-a7ab-35bf1ca1c862","block_type":"box","text":"22.92","page_number":54,"box":{"x":443,"y":276,"width":30,"height":6}},{"id":"66e73d97-e148-4ece-bcf6-66d72cdaf517","block_type":"box","text":"Distributions on","page_number":54,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"605ac517-2523-4b4e-9d78-4ea840335a23","block_type":"box","text":"accumulation shares","page_number":54,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"1d1ea495-fbc5-406b-8bcd-b3eb356483b0","block_type":"box","text":"(0.74)","page_number":54,"box":{"x":234,"y":303,"width":29,"height":8}},{"id":"0484cb81-1c02-4547-bc21-8a58cb4cf4fe","block_type":"box","text":"(2.71)","page_number":54,"box":{"x":305,"y":303,"width":29,"height":8}},{"id":"3b2beb37-2238-4fa6-b500-39d8f9969647","block_type":"box","text":"(3.29)","page_number":54,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"15699fc9-437a-488c-8518-7997f3b7ba73","block_type":"box","text":"(3.20)","page_number":54,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"b4a7dd94-f2a5-4bcf-830c-7949e3b98eae","block_type":"box","text":"Retained distributions","page_number":54,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"d10ed552-ed24-41f3-a85b-6c7efffdc221","block_type":"box","text":"on accumulation shares","page_number":54,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"9fea34ac-9bac-4a2a-ba33-f02f7c75c368","block_type":"box","text":"0.74","page_number":54,"box":{"x":237,"y":330,"width":21,"height":6}},{"id":"54259e41-1b49-4ca8-9e6b-0bb0a8ee55ba","block_type":"box","text":"2.71","page_number":54,"box":{"x":308,"y":330,"width":20,"height":6}},{"id":"1f9f121d-d00d-4b89-86aa-29585c1c74d5","block_type":"box","text":"3.29","page_number":54,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"14d0cea0-ae6c-4afe-9ce4-b4fd9a964402","block_type":"box","text":"3.20","page_number":54,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"b31e8860-0897-4455-80fd-9c188e045e06","block_type":"box","text":"Closing net asset","page_number":54,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"5ba33c25-0811-4560-8464-8e71da8ef288","block_type":"box","text":"value per share","page_number":54,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"a02da6ab-a3a2-45ec-be06-9e0d770bb155","block_type":"box","text":"287.13","page_number":54,"box":{"x":225,"y":357,"width":34,"height":6}},{"id":"746dedfa-34eb-44a3-a3e4-ce25595b2004","block_type":"box","text":"256.58","page_number":54,"box":{"x":293,"y":357,"width":37,"height":6}},{"id":"65dcc439-923f-4c4b-be10-1b10117cb367","block_type":"box","text":"224.69","page_number":54,"box":{"x":365,"y":357,"width":36,"height":6}},{"id":"b4cf4c53-299a-4f7a-a46c-348f81546f84","block_type":"box","text":"193.77","page_number":54,"box":{"x":438,"y":357,"width":35,"height":6}},{"id":"6dc1e93d-ae49-41a0-9045-536be78e7cbf","block_type":"box","text":"* after direct transaction","page_number":54,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"aa3e8dbc-080f-4ee0-ad28-83aadc2e7b0d","block_type":"box","text":"costs of:","page_number":54,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"1fcec319-7df9-49f8-9507-d97bb5e5e139","block_type":"box","text":"0.03","page_number":54,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"91e5b855-6756-4001-abf4-73ef285fc7be","block_type":"box","text":"0.03","page_number":54,"box":{"x":308,"y":385,"width":22,"height":6}},{"id":"982cd77a-ac40-4045-b133-60b03ca1a463","block_type":"box","text":"0.03","page_number":54,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"bb38397b-8e06-407d-8a0b-a93475d49f3a","block_type":"box","text":"0.02","page_number":54,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"bdf484d5-5b41-4bcc-bb54-8061708dc788","block_type":"box","text":"Performance","page_number":54,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"6656a145-497b-447e-84b5-ce1de8539859","block_type":"box","text":"Return after charges","page_number":54,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"fdfcd10f-0f3d-49d7-aca2-0bb9f697eab7","block_type":"box","text":"11.91%","page_number":54,"box":{"x":222,"y":419,"width":36,"height":7}},{"id":"c6f18c34-5505-422d-aad5-350bd4ef3c02","block_type":"box","text":"14.19%","page_number":54,"box":{"x":293,"y":419,"width":37,"height":7}},{"id":"e3e142b4-7ff6-430e-8580-055531ec65a4","block_type":"box","text":"15.96%","page_number":54,"box":{"x":362,"y":419,"width":39,"height":7}},{"id":"f7d1b139-d8cb-42c4-ab7a-d6a74ccb009d","block_type":"box","text":"13.42%","page_number":54,"box":{"x":434,"y":419,"width":39,"height":7}},{"id":"34f706ab-9123-4e73-a882-08be90d4d3a4","block_type":"box","text":"Other information","page_number":54,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"5a3dcbe2-dbde-42d5-aec2-fd078b87129f","block_type":"box","text":"Closing net asset value","page_number":54,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"a2098c12-4359-4b92-baf0-120361ef2fbf","block_type":"box","text":"(£’000)","page_number":54,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"a412ed52-724f-44c0-9838-ca49b51820c3","block_type":"box","text":"71,031","page_number":54,"box":{"x":224,"y":447,"width":33,"height":7}},{"id":"73174e77-5083-4df1-ac4e-db6cae79a77b","block_type":"box","text":"57,839","page_number":54,"box":{"x":295,"y":447,"width":35,"height":7}},{"id":"0417ebbd-019b-4f35-b6fa-37410d55c752","block_type":"box","text":"55,207","page_number":54,"box":{"x":365,"y":447,"width":36,"height":7}},{"id":"977d1e3e-6c37-40bc-aeae-8fc92cd5e260","block_type":"box","text":"31,008","page_number":54,"box":{"x":437,"y":447,"width":36,"height":7}},{"id":"dc4b0968-b36f-45ac-9b7d-437bce635e2f","block_type":"box","text":"Closing number of","page_number":54,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"77860d8c-1fd7-42dd-ac24-ea5b7a03570d","block_type":"box","text":"shares","page_number":54,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"a40fea88-b0e3-409a-818b-2ccc9c8bb11a","block_type":"box","text":"24,738,693","page_number":54,"box":{"x":203,"y":466,"width":56,"height":7}},{"id":"09e6fc99-79ed-4d45-afe3-6cf79a6edca6","block_type":"box","text":"22,542,526","page_number":54,"box":{"x":274,"y":466,"width":56,"height":7}},{"id":"b516c41d-7a13-418d-b130-0935b1e99665","block_type":"box","text":"24,569,684","page_number":54,"box":{"x":345,"y":466,"width":56,"height":7}},{"id":"4cd6744d-caf6-4f5d-9884-252f8baf0858","block_type":"box","text":"16,002,559","page_number":54,"box":{"x":418,"y":466,"width":55,"height":7}},{"id":"8a4c66b7-1205-458d-820c-1198445aa6db","block_type":"box","text":"Operating charges","page_number":54,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"72664fd5-89e0-4ef5-8d8e-eaf75e04b663","block_type":"box","text":"0.60%","page_number":54,"box":{"x":225,"y":485,"width":33,"height":6}},{"id":"5e1c1266-a1f4-4f0d-8c1a-903c6323d62f","block_type":"box","text":"0.60%","page_number":54,"box":{"x":297,"y":485,"width":33,"height":6}},{"id":"d476c201-f9eb-4920-ad72-d4b357f412ad","block_type":"box","text":"0.60%","page_number":54,"box":{"x":368,"y":485,"width":33,"height":6}},{"id":"f722b0ae-ba2d-4f08-94b2-e9545a97f22f","block_type":"box","text":"0.60%","page_number":54,"box":{"x":440,"y":485,"width":33,"height":6}},{"id":"c937ba7e-e692-4df0-b7a3-9c58caf716c5","block_type":"box","text":"Direct transaction costs","page_number":54,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"0c524d50-ed4c-46a7-8549-fdc5c7a66688","block_type":"box","text":"0.01%","page_number":54,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"b8dc3ce0-a2aa-42f7-84bf-c19243f9d5f2","block_type":"box","text":"0.01%","page_number":54,"box":{"x":298,"y":495,"width":32,"height":6}},{"id":"6186f2e1-73d1-401e-bf8a-7a90d60d44fd","block_type":"box","text":"0.02%","page_number":54,"box":{"x":368,"y":495,"width":33,"height":6}},{"id":"7710403f-e65a-4c15-b1c3-5554602f57af","block_type":"box","text":"0.01%","page_number":54,"box":{"x":441,"y":495,"width":32,"height":6}},{"id":"b4a79f1e-6664-4063-842e-fb0bb430d023","block_type":"box","text":"Prices","page_number":54,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"bfefa4aa-ad87-4633-b4a0-e9a5e5a8d209","block_type":"box","text":"^","page_number":54,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"81b903bf-7714-4d74-ae6a-594c7034e1fe","block_type":"box","text":"Highest share price","page_number":54,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"efaac04c-f37a-4256-bef7-631142eea952","block_type":"box","text":"290.50","page_number":54,"box":{"x":222,"y":522,"width":36,"height":6}},{"id":"fa1a5249-912e-47af-82e0-534e10fce751","block_type":"box","text":"258.70","page_number":54,"box":{"x":294,"y":522,"width":36,"height":6}},{"id":"0dfa0b63-4138-41fa-85bd-a1441666dd11","block_type":"box","text":"229.00","page_number":54,"box":{"x":365,"y":522,"width":36,"height":6}},{"id":"5893d09b-9805-4892-b84d-510f9c48f6e2","block_type":"box","text":"193.90","page_number":54,"box":{"x":438,"y":522,"width":35,"height":6}},{"id":"a3a674a1-d247-45b8-8bdd-672d1ed56e6c","block_type":"box","text":"Lowest share price","page_number":54,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"c4536b45-2d50-4198-b1fc-91bdc51c3470","block_type":"box","text":"249.90","page_number":54,"box":{"x":222,"y":532,"width":36,"height":6}},{"id":"45d5adbb-1fba-4c82-87d2-2479723111be","block_type":"box","text":"195.40","page_number":54,"box":{"x":295,"y":532,"width":35,"height":6}},{"id":"827b465e-20a6-4f8d-9d74-778d7f43736a","block_type":"box","text":"189.20","page_number":54,"box":{"x":366,"y":532,"width":35,"height":6}},{"id":"9a36ca0c-d50a-48cf-aa46-1a117f65f498","block_type":"box","text":"169.90","page_number":54,"box":{"x":438,"y":532,"width":35,"height":6}},{"id":"b537d433-cfa2-4a37-93e9-39071fd41f86","block_type":"box","text":"Class M Income","page_number":54,"box":{"x":57,"y":560,"width":146,"height":9}},{"id":"138a4d0f-98ea-4ca2-a67f-1064419cd779","block_type":"box","text":"Change in net assets","page_number":54,"box":{"x":57,"y":586,"width":120,"height":8}},{"id":"25078be1-6b65-4793-ae01-e109e86c1d96","block_type":"box","text":"30/06/26","page_number":54,"box":{"x":212,"y":586,"width":47,"height":6}},{"id":"b55ceb81-05e5-415c-bc97-d8130f08272f","block_type":"box","text":"31/12/25","page_number":54,"box":{"x":285,"y":586,"width":45,"height":6}},{"id":"5b1cbe51-580c-4780-9d39-440234fee9da","block_type":"box","text":"31/12/24","page_number":54,"box":{"x":356,"y":586,"width":46,"height":6}},{"id":"52067c3b-c000-45e6-a746-487b74189f67","block_type":"box","text":"31/12/23","page_number":54,"box":{"x":428,"y":586,"width":45,"height":6}},{"id":"27606a3e-877a-4e30-82f4-f12448a9796c","block_type":"box","text":"per share","page_number":54,"box":{"x":57,"y":595,"width":54,"height":8}},{"id":"107e500b-a64f-492b-a279-16d0ba8401e4","block_type":"box","text":"(p)","page_number":54,"box":{"x":245,"y":595,"width":13,"height":8}},{"id":"f3f92ab3-cddc-4a39-a15c-7efbd67d371a","block_type":"box","text":"(p)","page_number":54,"box":{"x":316,"y":595,"width":14,"height":8}},{"id":"123939e4-361d-4ebd-94b4-41609d292a5e","block_type":"box","text":"(p)","page_number":54,"box":{"x":387,"y":595,"width":14,"height":8}},{"id":"1dad5b93-86d4-4cbf-9435-e61d13831ab2","block_type":"box","text":"(p)","page_number":54,"box":{"x":459,"y":595,"width":14,"height":8}},{"id":"b77c0732-35d2-472a-94b5-98b5be2c2f8d","block_type":"box","text":"Opening net asset","page_number":54,"box":{"x":57,"y":614,"width":97,"height":8}},{"id":"7d227534-437d-4e9a-a242-8d347d83f8be","block_type":"box","text":"value per share","page_number":54,"box":{"x":57,"y":624,"width":82,"height":7}},{"id":"7ff31656-2462-4898-aa81-3e2bd61afabc","block_type":"box","text":"221.78","page_number":54,"box":{"x":224,"y":614,"width":35,"height":6}},{"id":"3c5ab648-8bee-45fe-b545-5a972a6a2651","block_type":"box","text":"196.35","page_number":54,"box":{"x":295,"y":614,"width":35,"height":6}},{"id":"e6d6d3f8-515d-473a-a9c5-da75efa2bab4","block_type":"box","text":"171.87","page_number":54,"box":{"x":368,"y":614,"width":33,"height":6}},{"id":"b5056ae3-c05f-472c-b7d2-74cbe064f921","block_type":"box","text":"154.12","page_number":54,"box":{"x":439,"y":614,"width":34,"height":6}},{"id":"11a8d212-8647-4c32-b16b-49f6645286ab","block_type":"box","text":"Return before operating","page_number":54,"box":{"x":58,"y":641,"width":125,"height":8}},{"id":"508c4326-b086-47e8-b991-bf45e8c4012d","block_type":"box","text":"charges*","page_number":54,"box":{"x":57,"y":650,"width":47,"height":8}},{"id":"1b2c7496-11dc-4445-ae52-c2184f498272","block_type":"box","text":"27.10","page_number":54,"box":{"x":232,"y":641,"width":26,"height":6}},{"id":"820d97bc-8af4-48fb-8fb7-dd1ee07722ed","block_type":"box","text":"29.02","page_number":54,"box":{"x":301,"y":641,"width":29,"height":6}},{"id":"30ff4ba5-7f25-4ec9-a638-b91c5087211d","block_type":"box","text":"28.54","page_number":54,"box":{"x":372,"y":641,"width":29,"height":6}},{"id":"c255fff1-5718-4863-b441-7ddfccf934a3","block_type":"box","text":"21.61","page_number":54,"box":{"x":445,"y":641,"width":26,"height":6}},{"id":"c47180fa-2069-4eb4-9831-df46226385ea","block_type":"box","text":"Operating charges","page_number":54,"box":{"x":57,"y":668,"width":99,"height":8}},{"id":"8c7086c5-b098-4a0a-98dc-e656078b4c2b","block_type":"box","text":"(0.69)","page_number":54,"box":{"x":232,"y":668,"width":31,"height":8}},{"id":"0089d171-8c44-4c7f-8015-fa410c9b13ec","block_type":"box","text":"(1.22)","page_number":54,"box":{"x":305,"y":668,"width":29,"height":8}},{"id":"4a39a9cf-967f-4e8c-91b9-55def1f394b9","block_type":"box","text":"(1.12)","page_number":54,"box":{"x":378,"y":668,"width":27,"height":8}},{"id":"226b70e9-6574-4f7f-99dd-c232f03d55f3","block_type":"box","text":"(0.98)","page_number":54,"box":{"x":447,"y":668,"width":30,"height":8}},{"id":"1dc7c6db-e2d1-4b3c-a4ea-c52d08f65173","block_type":"box","text":"Return after operating","page_number":54,"box":{"x":58,"y":685,"width":116,"height":8}},{"id":"32c33d76-91b1-49e0-9442-4d209fca3fec","block_type":"box","text":"charges*","page_number":54,"box":{"x":57,"y":695,"width":47,"height":8}},{"id":"bf372803-1d77-4881-8c76-56ac18bc7f37","block_type":"box","text":"26.41","page_number":54,"box":{"x":230,"y":686,"width":27,"height":6}},{"id":"20e8b5d0-7436-44e2-b757-5c9c9d18e746","block_type":"box","text":"27.80","page_number":54,"box":{"x":302,"y":686,"width":28,"height":6}},{"id":"29568a1d-147e-424e-9718-a49bd6dc3c4a","block_type":"box","text":"27.42","page_number":54,"box":{"x":373,"y":686,"width":28,"height":5}},{"id":"a7ab96f0-f29f-413b-9b44-647e7ba3f04f","block_type":"box","text":"20.63","page_number":54,"box":{"x":443,"y":686,"width":30,"height":6}},{"id":"36345759-ef2f-46c0-885d-bc2287d3b387","block_type":"box","text":"Distributions on income","page_number":54,"box":{"x":58,"y":713,"width":124,"height":6}},{"id":"cba36e72-be42-4778-ab18-ba625b7d7e3a","block_type":"box","text":"shares","page_number":54,"box":{"x":57,"y":722,"width":35,"height":6}},{"id":"c3c222f7-e2c7-49ef-89df-55cc04bef25c","block_type":"box","text":"(0.64)","page_number":54,"box":{"x":233,"y":712,"width":30,"height":8}},{"id":"f73afd8a-b30e-4196-8d1b-c0c1689ed868","block_type":"box","text":"(2.37)","page_number":54,"box":{"x":304,"y":712,"width":30,"height":8}},{"id":"b2bbdc99-e779-4c07-990c-0a5d402e9108","block_type":"box","text":"(2.94)","page_number":54,"box":{"x":375,"y":712,"width":30,"height":8}},{"id":"f8560368-6362-4759-bffe-5174848e2c7f","block_type":"box","text":"(2.88)","page_number":54,"box":{"x":447,"y":712,"width":30,"height":8}},{"id":"9c5f7ceb-738e-4ee9-8c24-5b21d53eb53e","block_type":"box","text":"Closing net asset","page_number":54,"box":{"x":57,"y":739,"width":100,"height":8}},{"id":"8443ac18-fad8-40cd-9d8f-0797f06d0e2a","block_type":"box","text":"value per share","page_number":54,"box":{"x":57,"y":749,"width":88,"height":8}},{"id":"271eb32f-e139-4b0b-964c-0bb21cd12547","block_type":"box","text":"247.55","page_number":54,"box":{"x":223,"y":740,"width":36,"height":6}},{"id":"9b61c2d2-8eac-4059-95b0-ec76b2cde8db","block_type":"box","text":"221.78","page_number":54,"box":{"x":295,"y":740,"width":35,"height":6}},{"id":"d44c6a2f-1b95-4c26-9e80-a2245112acc4","block_type":"box","text":"196.35","page_number":54,"box":{"x":366,"y":740,"width":36,"height":6}},{"id":"830da7dd-8393-482d-89ec-6b5e5d8ee87a","block_type":"box","text":"171.87","page_number":54,"box":{"x":439,"y":740,"width":34,"height":6}},{"id":"a2010517-f05d-45c9-8e34-8e79551759c6","block_type":"box","text":"* after direct transaction","page_number":54,"box":{"x":57,"y":767,"width":127,"height":6}},{"id":"81bdf483-e777-4172-96c3-26b31088f462","block_type":"box","text":"costs of:","page_number":54,"box":{"x":57,"y":777,"width":44,"height":6}},{"id":"dc3b1439-1506-4c8a-9c20-7d319d4b6da4","block_type":"box","text":"0.03","page_number":54,"box":{"x":236,"y":767,"width":22,"height":6}},{"id":"7d054e08-8ee2-482b-91ee-4abccaf981bb","block_type":"box","text":"0.03","page_number":54,"box":{"x":308,"y":767,"width":22,"height":6}},{"id":"0b657f2c-80dd-4382-b91c-549de48a3867","block_type":"box","text":"0.03","page_number":54,"box":{"x":379,"y":767,"width":22,"height":6}},{"id":"81719968-9797-4437-9621-7e39a91a6488","block_type":"box","text":"0.02","page_number":54,"box":{"x":450,"y":767,"width":23,"height":6}},{"id":"9811f8c6-94d3-42cb-8c9b-b4a98ca5cd6b","block_type":"box","text":"Performance","page_number":54,"box":{"x":58,"y":792,"width":73,"height":6}},{"id":"58ab4993-d4fc-4e2d-b7b3-35d9b691ae38","block_type":"box","text":"Return after charges","page_number":54,"box":{"x":58,"y":801,"width":108,"height":8}},{"id":"44b1a1a3-ecec-4ac8-9b2c-c1db8401f7b6","block_type":"box","text":"11.91%","page_number":54,"box":{"x":222,"y":801,"width":36,"height":7}},{"id":"a3489412-ec75-4090-996b-6b9041af3255","block_type":"box","text":"14.16%","page_number":54,"box":{"x":293,"y":801,"width":37,"height":7}},{"id":"ee342a19-3c70-4d20-8677-e8ab69da3e18","block_type":"box","text":"15.95%","page_number":54,"box":{"x":363,"y":801,"width":38,"height":7}},{"id":"7878ae16-816a-43bc-9fa2-17b75b9b5693","block_type":"box","text":"13.39%","page_number":54,"box":{"x":434,"y":801,"width":39,"height":7}},{"id":"0a106da1-06f2-4444-a8ae-1ac429da75da","block_type":"box","text":"Other information","page_number":54,"box":{"x":57,"y":819,"width":102,"height":7}},{"id":"f96a3a28-d15c-4c1b-ae40-a60d4833d3b7","block_type":"box","text":"Closing net asset value","page_number":54,"box":{"x":57,"y":829,"width":123,"height":8}},{"id":"c08553fb-1f2d-41d3-9979-69261cc01b27","block_type":"box","text":"(£’000)","page_number":54,"box":{"x":57,"y":838,"width":37,"height":8}},{"id":"ec404d42-b471-4e20-9253-c73f3bc0c98b","block_type":"box","text":"4,071","page_number":54,"box":{"x":230,"y":829,"width":27,"height":7}},{"id":"1a814fcc-a5cc-4a59-9f79-1097c0c13e3a","block_type":"box","text":"2,497","page_number":54,"box":{"x":301,"y":829,"width":29,"height":7}},{"id":"c25d27e0-3636-4452-89d9-c362f319ab37","block_type":"box","text":"1,710","page_number":54,"box":{"x":375,"y":829,"width":26,"height":7}},{"id":"a8a27252-1886-4fa8-bc18-5dfe8620ce1d","block_type":"box","text":"1,653","page_number":54,"box":{"x":445,"y":829,"width":28,"height":7}},{"id":"a455c548-eb7a-4d46-ad59-7046916e1e5a","block_type":"box","text":"Closing number of","page_number":54,"box":{"x":57,"y":848,"width":98,"height":8}},{"id":"3be04e7d-79cf-4773-9b5c-ed3bd1ec44ec","block_type":"box","text":"shares","page_number":54,"box":{"x":57,"y":857,"width":35,"height":6}},{"id":"0deb6ac5-9c31-4adb-963b-b2bf259fac5a","block_type":"box","text":"1,644,179","page_number":54,"box":{"x":212,"y":848,"width":47,"height":7}},{"id":"db004696-c9d0-4861-b488-0f103cabc69b","block_type":"box","text":"1,125,840","page_number":54,"box":{"x":283,"y":848,"width":47,"height":7}},{"id":"966408e7-03ca-4400-9728-37af7bc05ed2","block_type":"box","text":"871,126","page_number":54,"box":{"x":364,"y":848,"width":37,"height":7}},{"id":"9affbbac-1aa5-40dc-8d0c-8daad649bcec","block_type":"box","text":"961,914","page_number":54,"box":{"x":434,"y":848,"width":39,"height":7}},{"id":"b57538ba-a7c3-4450-abab-3f3e95181570","block_type":"box","text":"Operating charges","page_number":54,"box":{"x":57,"y":867,"width":99,"height":8}},{"id":"1641197a-9ab5-42b1-a716-2f64d269afaa","block_type":"box","text":"0.60%","page_number":54,"box":{"x":225,"y":867,"width":33,"height":6}},{"id":"53a40c2a-ce3e-49b0-a3d1-8f9a9c881392","block_type":"box","text":"0.60%","page_number":54,"box":{"x":297,"y":867,"width":33,"height":6}},{"id":"c609452c-8d88-4ad0-8cd5-798b20a9932a","block_type":"box","text":"0.60%","page_number":54,"box":{"x":368,"y":867,"width":33,"height":6}},{"id":"461a52a3-be11-40cc-8df0-2d6f7f3bc5a5","block_type":"box","text":"0.60%","page_number":54,"box":{"x":440,"y":867,"width":33,"height":6}},{"id":"9707b6d5-eee2-4b3c-859d-0a108c647cba","block_type":"box","text":"Direct transaction costs","page_number":54,"box":{"x":58,"y":877,"width":125,"height":6}},{"id":"9f1d7582-2738-4f8a-9b5c-098d92071715","block_type":"box","text":"0.01%","page_number":54,"box":{"x":227,"y":877,"width":31,"height":6}},{"id":"22db4b76-3b5d-437f-bf37-b8d664bf9254","block_type":"box","text":"0.01%","page_number":54,"box":{"x":298,"y":877,"width":32,"height":6}},{"id":"90bc64d2-fb0b-4d7a-b8fe-6f17d4978011","block_type":"box","text":"0.02%","page_number":54,"box":{"x":368,"y":877,"width":33,"height":6}},{"id":"cede37b5-ff25-49f0-8cba-fe5fe079e701","block_type":"box","text":"0.01%","page_number":54,"box":{"x":441,"y":877,"width":32,"height":6}},{"id":"2429f6e3-65a0-467a-8b24-bf7c9abcd9d3","block_type":"box","text":"Prices","page_number":54,"box":{"x":58,"y":895,"width":35,"height":6}},{"id":"56e09b96-f43c-4111-9a78-535a0552def2","block_type":"box","text":"^","page_number":54,"box":{"x":94,"y":895,"width":3,"height":2}},{"id":"cd180965-1fe5-401e-833e-e2d68197e034","block_type":"box","text":"Highest share price","page_number":54,"box":{"x":58,"y":904,"width":102,"height":8}},{"id":"d1bed26d-e3a6-47a3-954f-207abd919a0d","block_type":"box","text":"251.10","page_number":54,"box":{"x":225,"y":904,"width":33,"height":6}},{"id":"0ba8df1d-8ba4-49b0-ac47-45a8781b20cf","block_type":"box","text":"225.50","page_number":54,"box":{"x":294,"y":904,"width":36,"height":6}},{"id":"f2c87237-4142-4a98-bf47-9bd97404f028","block_type":"box","text":"202.30","page_number":54,"box":{"x":365,"y":904,"width":36,"height":6}},{"id":"4a4dbe92-f78e-4af5-822a-a1301d2b8af4","block_type":"box","text":"174.10","page_number":54,"box":{"x":441,"y":904,"width":32,"height":6}},{"id":"ab045cf9-d670-460d-a89e-9b0c0c8b58fb","block_type":"box","text":"Lowest share price","page_number":54,"box":{"x":58,"y":914,"width":99,"height":8}},{"id":"fbb6d825-7522-48c3-9786-c17244e8e489","block_type":"box","text":"216.00","page_number":54,"box":{"x":223,"y":914,"width":35,"height":6}},{"id":"3a7a30fc-9f5c-4e21-9ad0-c1b723db7e07","block_type":"box","text":"170.80","page_number":54,"box":{"x":295,"y":914,"width":35,"height":6}},{"id":"a8145d7b-e6a9-48b8-8b11-45e80f9dbc74","block_type":"box","text":"167.80","page_number":54,"box":{"x":368,"y":914,"width":33,"height":6}},{"id":"e27a6c18-729f-4e5a-93c5-882fba24a679","block_type":"box","text":"153.30","page_number":54,"box":{"x":438,"y":914,"width":35,"height":6}},{"id":"51031b1f-f1cf-41eb-be7d-9b677e4b3923","block_type":"box","text":"Class P Accumulation","page_number":54,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"e094c612-0811-4a1e-8526-180ceddfa57b","block_type":"box","text":"Change in net assets","page_number":54,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"10f97d1b-45ff-4781-a769-1674b8bddedb","block_type":"box","text":"30/06/26","page_number":54,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"b7a1a29c-b9d4-4f2d-9f96-5e7a8c25b675","block_type":"box","text":"31/12/25","page_number":54,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"06850f49-85db-4dd2-9865-5b3a56f436a7","block_type":"box","text":"31/12/24","page_number":54,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"4f5ddfce-62e1-4fef-b8c9-6116c66919aa","block_type":"box","text":"31/12/23","page_number":54,"box":{"x":892,"y":177,"width":45,"height":6}},{"id":"51846ba7-3591-4189-a7e4-a9a32d57c4d9","block_type":"box","text":"per share","page_number":54,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"9e17cc7a-b972-4786-b97a-960b3595abc7","block_type":"box","text":"(p)","page_number":54,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"4d2a11cc-ed20-45b3-a27b-892ad577e75e","block_type":"box","text":"(p)","page_number":54,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"68917d55-678d-449c-b27b-d5a69871e189","block_type":"box","text":"(p)","page_number":54,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"c32777ef-c093-4f52-8b82-9b0c3c09bd41","block_type":"box","text":"(p)","page_number":54,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"9c52e7b6-f9f6-4269-99a1-5e9abb12827d","block_type":"box","text":"Opening net asset","page_number":54,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"01069264-761b-491a-a920-0be76c81b4c1","block_type":"box","text":"value per share","page_number":54,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"12762016-73e9-41fa-8661-de9a6278d509","block_type":"box","text":"183.06","page_number":54,"box":{"x":688,"y":205,"width":35,"height":6}},{"id":"fde17ffb-8cf2-4040-a143-d5d4dac2b298","block_type":"box","text":"160.25","page_number":54,"box":{"x":759,"y":205,"width":35,"height":6}},{"id":"ce9bedc5-b3f2-404f-9999-6281e90e896e","block_type":"box","text":"137.77","page_number":54,"box":{"x":833,"y":205,"width":33,"height":6}},{"id":"de7207ad-326d-42c9-b724-2dd98e1efbc5","block_type":"box","text":"121.42","page_number":54,"box":{"x":903,"y":205,"width":34,"height":6}},{"id":"5dbe1a53-3eab-42e3-bc08-542e843a7d7b","block_type":"box","text":"Return before operating","page_number":54,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"ce0ee851-37de-4fd1-9749-deb278e12974","block_type":"box","text":"charges*","page_number":54,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"f8902611-3edc-4ee6-8e4c-20054a7502e0","block_type":"box","text":"22.37","page_number":54,"box":{"x":693,"y":232,"width":30,"height":6}},{"id":"e1a32483-9538-4593-b956-c805fd10b1b8","block_type":"box","text":"23.73","page_number":54,"box":{"x":765,"y":232,"width":29,"height":6}},{"id":"e6f02292-e9f0-4c57-9165-775b1401b51a","block_type":"box","text":"23.25","page_number":54,"box":{"x":836,"y":232,"width":30,"height":6}},{"id":"92cd3c06-4f50-404b-829c-70a9eca88070","block_type":"box","text":"17.06","page_number":54,"box":{"x":910,"y":232,"width":27,"height":6}},{"id":"8e0bb774-e3e3-4a23-8f63-312fb29c3c6e","block_type":"box","text":"Operating charges","page_number":54,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"e4f30445-0f51-4470-a9ac-cb6334920412","block_type":"box","text":"(0.52)","page_number":54,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"0b0cf2fe-d61e-4d8d-bf3f-e536c553a6d8","block_type":"box","text":"(0.92)","page_number":54,"box":{"x":768,"y":259,"width":30,"height":8}},{"id":"9b28e05b-4c7c-4e10-9145-edc82f77c812","block_type":"box","text":"(0.77)","page_number":54,"box":{"x":840,"y":259,"width":30,"height":8}},{"id":"1feaa8ed-979d-485f-97f7-9716c7c6dd53","block_type":"box","text":"(0.71)","page_number":54,"box":{"x":913,"y":259,"width":28,"height":8}},{"id":"19fc0892-cd45-40c2-9bf8-63182f2d8add","block_type":"box","text":"Return after operating","page_number":54,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"8764d5d1-c068-4330-8a10-f0f33775bc85","block_type":"box","text":"charges*","page_number":54,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"3f3f3c45-261d-49e2-985c-f83529a32390","block_type":"box","text":"21.85","page_number":54,"box":{"x":694,"y":276,"width":29,"height":6}},{"id":"99421fac-c463-4d44-955f-77ba91e71934","block_type":"box","text":"22.81","page_number":54,"box":{"x":765,"y":276,"width":28,"height":6}},{"id":"b9b6fc33-5c10-4dbd-844c-7ab62a5aa6e1","block_type":"box","text":"22.48","page_number":54,"box":{"x":836,"y":276,"width":30,"height":6}},{"id":"f6ff074d-8982-47e7-9b6f-057335364733","block_type":"box","text":"16.35","page_number":54,"box":{"x":909,"y":276,"width":28,"height":6}},{"id":"bfd6ec7d-db01-4017-9d34-a28f823288ea","block_type":"box","text":"Distributions on","page_number":54,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"52e2a525-0d3e-4dcc-be14-edc3631ffb71","block_type":"box","text":"accumulation shares","page_number":54,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"60179c2b-233a-455c-a920-a2f3e75b6e09","block_type":"box","text":"(0.55)","page_number":54,"box":{"x":697,"y":303,"width":30,"height":8}},{"id":"64a34948-f092-4d30-8bec-1267e46cc82a","block_type":"box","text":"(2.00)","page_number":54,"box":{"x":768,"y":303,"width":30,"height":8}},{"id":"f1309abe-e377-406c-9844-e622154ac656","block_type":"box","text":"(0.69)","page_number":54,"box":{"x":840,"y":303,"width":30,"height":8}},{"id":"1d70e12c-0f29-4c63-b657-062076e85887","block_type":"box","text":"(2.33)","page_number":54,"box":{"x":911,"y":303,"width":30,"height":8}},{"id":"76357d7e-62a9-492e-b6fc-7c5dbb578664","block_type":"box","text":"Retained distributions","page_number":54,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"a93f9529-de45-4423-9a70-62482073112e","block_type":"box","text":"on accumulation shares","page_number":54,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"6871a65a-97e3-4940-a237-97bd11281380","block_type":"box","text":"0.55","page_number":54,"box":{"x":700,"y":330,"width":23,"height":6}},{"id":"22e3e363-5b8c-48de-a098-ea4e61382bc4","block_type":"box","text":"2.00","page_number":54,"box":{"x":771,"y":330,"width":23,"height":6}},{"id":"0cb1ac07-6045-40ce-84d6-8fcf2386547c","block_type":"box","text":"0.69","page_number":54,"box":{"x":843,"y":330,"width":23,"height":6}},{"id":"69007691-f191-4c05-aad7-e474570197b4","block_type":"box","text":"2.33","page_number":54,"box":{"x":914,"y":330,"width":23,"height":6}},{"id":"9d559eb1-e0c1-4f53-a9a1-7c78b1966642","block_type":"box","text":"Closing net asset","page_number":54,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"1b659c77-2cc6-47dd-91a4-a230a0150b61","block_type":"box","text":"value per share","page_number":54,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"7b342d8e-fc65-4823-be41-10dcb9f9b2e9","block_type":"box","text":"204.91","page_number":54,"box":{"x":686,"y":357,"width":35,"height":6}},{"id":"5463ac4a-4757-4f54-b1fa-4914d72cc108","block_type":"box","text":"183.06","page_number":54,"box":{"x":759,"y":357,"width":35,"height":6}},{"id":"b75b741a-6438-40ba-aee8-1eafd91c577b","block_type":"box","text":"160.25","page_number":54,"box":{"x":830,"y":357,"width":36,"height":6}},{"id":"f10e6718-d0eb-4eda-a59c-e3dabaceef5d","block_type":"box","text":"137.77","page_number":54,"box":{"x":903,"y":357,"width":34,"height":6}},{"id":"d952f984-53c2-4684-8734-46e3c4f92341","block_type":"box","text":"* after direct transaction","page_number":54,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"0445bf5b-04df-4eae-b891-b377ae1cc385","block_type":"box","text":"costs of:","page_number":54,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"b3da77e7-c0e7-4d83-9fe2-51cc0beca87f","block_type":"box","text":"0.02","page_number":54,"box":{"x":700,"y":385,"width":23,"height":6}},{"id":"fdbf8db4-76ad-43d7-97ce-3a35009cde63","block_type":"box","text":"0.02","page_number":54,"box":{"x":772,"y":385,"width":22,"height":6}},{"id":"214e8d70-e7db-41ce-844d-6c2c699ac67f","block_type":"box","text":"0.04","page_number":54,"box":{"x":843,"y":385,"width":23,"height":6}},{"id":"e39aa2ef-6e1a-4cc2-bf02-fca6715dfcaf","block_type":"box","text":"0.01","page_number":54,"box":{"x":915,"y":385,"width":20,"height":6}},{"id":"3d6a2f7f-84e3-4553-9980-0ea3a7728ced","block_type":"box","text":"Performance","page_number":54,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"cf7cd896-a06d-4ec7-8581-4af94a42f017","block_type":"box","text":"Return after charges","page_number":54,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"ad97950a-ef52-46f7-9ba1-359361230f4b","block_type":"box","text":"11.94%","page_number":54,"box":{"x":685,"y":419,"width":38,"height":7}},{"id":"4158b605-96b0-405f-a928-c117373d9348","block_type":"box","text":"14.23%","page_number":54,"box":{"x":756,"y":419,"width":38,"height":7}},{"id":"6c3e158b-63ae-4742-96cc-efca21d20765","block_type":"box","text":"16.32%","page_number":54,"box":{"x":827,"y":419,"width":38,"height":7}},{"id":"734eaa99-a49a-463e-9243-e6dcb8c00612","block_type":"box","text":"13.47%","page_number":54,"box":{"x":899,"y":419,"width":38,"height":7}},{"id":"7da705c3-3217-43c9-9a33-e8cb9dac81f9","block_type":"box","text":"Other information","page_number":54,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"c43b37f4-f5b7-4898-bed1-a9ac5aa3ce01","block_type":"box","text":"Closing net asset value","page_number":54,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"98583703-5e2f-44c6-ac2c-102ae4c395d1","block_type":"box","text":"(£’000)","page_number":54,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"883bb7a8-54f2-4af8-98be-33dbaa856c24","block_type":"box","text":"5","page_number":54,"box":{"x":717,"y":447,"width":6,"height":6}},{"id":"c3ae22d0-5652-4888-92be-7e23c7b2a9e3","block_type":"box","text":"7","page_number":54,"box":{"x":789,"y":447,"width":5,"height":6}},{"id":"d16568fa-3f99-4e05-99cb-585bad1f9361","block_type":"box","text":"6","page_number":54,"box":{"x":860,"y":447,"width":6,"height":6}},{"id":"30c39a2f-36fd-402c-9ca3-1a2654f0cb38","block_type":"box","text":"138","page_number":54,"box":{"x":919,"y":447,"width":18,"height":6}},{"id":"cf522d0a-9466-42cf-8da3-eff708ef9090","block_type":"box","text":"Closing number of","page_number":54,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"e062793e-2092-4997-beb0-cea1ed4da586","block_type":"box","text":"shares","page_number":54,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"ae1465c5-9f8b-443c-805b-72fafb3d801d","block_type":"box","text":"2,589","page_number":54,"box":{"x":695,"y":466,"width":28,"height":7}},{"id":"2ed6706f-a87c-4d7b-b5c0-6b2c99676312","block_type":"box","text":"3,639","page_number":54,"box":{"x":767,"y":466,"width":27,"height":7}},{"id":"3fa16ef1-9a72-42cb-9009-1f5d847ec649","block_type":"box","text":"3,639","page_number":54,"box":{"x":838,"y":466,"width":28,"height":7}},{"id":"52b36151-6720-430f-a3c8-4f263203b129","block_type":"box","text":"100,418","page_number":54,"box":{"x":899,"y":466,"width":38,"height":7}},{"id":"17350b1f-1563-49f7-a2a6-98090738a4ce","block_type":"box","text":"Operating charges","page_number":54,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"929a6994-bf33-4082-8d36-f53ebfc4e611","block_type":"box","text":"0.55%","page_number":54,"box":{"x":690,"y":485,"width":33,"height":6}},{"id":"1edeff16-73cd-4972-afcf-6bfe711bc6d7","block_type":"box","text":"0.55%","page_number":54,"box":{"x":761,"y":485,"width":33,"height":6}},{"id":"228d2d8b-db75-4094-831d-b3a6227575f3","block_type":"box","text":"0.55%","page_number":54,"box":{"x":833,"y":485,"width":32,"height":6}},{"id":"0a123ee7-bc71-4f43-aa70-0d2ef40ce032","block_type":"box","text":"0.55%","page_number":54,"box":{"x":904,"y":485,"width":33,"height":6}},{"id":"1f9534d3-ded6-433b-8f1c-ba0f4f4ae0f3","block_type":"box","text":"Direct transaction costs","page_number":54,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"61a0c010-6fb9-437a-90e7-48782d3b8d29","block_type":"box","text":"0.01%","page_number":54,"box":{"x":691,"y":495,"width":32,"height":6}},{"id":"c632c1c7-841e-464b-a4e1-ea7c7a4560e0","block_type":"box","text":"0.01%","page_number":54,"box":{"x":762,"y":495,"width":32,"height":6}},{"id":"a1ad0eaf-b346-4da9-b1a1-a8051cd298c7","block_type":"box","text":"0.02%","page_number":54,"box":{"x":833,"y":495,"width":32,"height":6}},{"id":"03514684-c99c-489e-bfab-f8136db7a601","block_type":"box","text":"0.01%","page_number":54,"box":{"x":905,"y":495,"width":32,"height":6}},{"id":"65b4ca21-167c-4e07-97a6-054b5d147756","block_type":"box","text":"Prices","page_number":54,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"88f5f889-42e9-4f2d-ad6d-a3656c940ba1","block_type":"box","text":"^","page_number":54,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"bdd70561-fab3-4182-a35a-a3e85b82523b","block_type":"box","text":"Highest share price","page_number":54,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"915e6dae-7d65-4474-bea0-1e58c2d5bca5","block_type":"box","text":"207.30","page_number":54,"box":{"x":688,"y":522,"width":35,"height":6}},{"id":"e9516e3b-4c68-4075-8b34-354c42ff3463","block_type":"box","text":"184.60","page_number":54,"box":{"x":759,"y":522,"width":35,"height":6}},{"id":"5c59798b-3d16-433f-8668-0142bbfcdb72","block_type":"box","text":"163.30","page_number":54,"box":{"x":830,"y":522,"width":36,"height":6}},{"id":"22a666d8-fb78-4ac9-b9b7-c16f78e73c9b","block_type":"box","text":"137.90","page_number":54,"box":{"x":904,"y":522,"width":33,"height":6}},{"id":"190cb38e-eb19-4f5e-aef5-d74a29eac1b8","block_type":"box","text":"Lowest share price","page_number":54,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"8443c962-d3aa-48c0-a305-3799b57e843a","block_type":"box","text":"178.30","page_number":54,"box":{"x":688,"y":532,"width":35,"height":6}},{"id":"f9e82900-3f1d-4185-aa76-6028fbb83d2f","block_type":"box","text":"139.40","page_number":54,"box":{"x":759,"y":532,"width":35,"height":6}},{"id":"63262ea2-250a-42bc-81ca-6e6c1266912b","block_type":"box","text":"134.50","page_number":54,"box":{"x":831,"y":532,"width":35,"height":6}},{"id":"5d3130bc-c57b-4879-a965-34b66fd86a85","block_type":"box","text":"120.80","page_number":54,"box":{"x":902,"y":532,"width":35,"height":6}},{"id":"ea46504c-c108-447f-9305-82028391843e","block_type":"box","text":"Comparative Tables","page_number":54,"box":{"x":58,"y":94,"width":236,"height":14}},{"id":"b4a41688-597e-421b-8c60-efa71ba39394","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund | Royal London Multi-Asset Funds ICVC","page_number":54,"box":{"x":469,"y":33,"width":444,"height":8}},{"id":"2c3a93a9-f3e4-4167-ae15-68840b8831a0","block_type":"box","text":"54","page_number":54,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"2ce59412-62d4-4f6c-8cc4-bc6d0b7d584a","block_type":"box","text":"Class R Accumulation","page_number":55,"box":{"x":57,"y":151,"width":203,"height":9}},{"id":"568ea866-5977-4083-9d9d-a2dcb8c1d98d","block_type":"box","text":"Change in net assets","page_number":55,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"63fc02df-e9f1-46f8-acd9-9900d5a11d5e","block_type":"box","text":"30/06/26","page_number":55,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"2a32b65f-f5a2-41ab-bb46-550eb2467728","block_type":"box","text":"31/12/25","page_number":55,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"ff286637-3e8a-4cb3-a931-732ac8ed69e3","block_type":"box","text":"31/12/24","page_number":55,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"653ba92a-8cbd-44da-b40a-583a9dd2b836","block_type":"box","text":"31/12/23","page_number":55,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"1a5536e0-ddbf-4f42-8840-c69f5497b1d5","block_type":"box","text":"per share","page_number":55,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"db21049d-cfbf-4e77-9a6f-162ef35abc5b","block_type":"box","text":"(p)","page_number":55,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"59628a7d-98cb-4a9b-963d-1ac2150c956d","block_type":"box","text":"(p)","page_number":55,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"bf9f561d-8d16-4a24-b864-6422e636b0ce","block_type":"box","text":"(p)","page_number":55,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"b564c2d1-dcb6-4ba1-afb2-c1d0ce775fd5","block_type":"box","text":"(p)","page_number":55,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"94a5c646-775e-481d-9205-6032948077e7","block_type":"box","text":"Opening net asset","page_number":55,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"818409dc-847e-420a-aea9-2a20a80c0760","block_type":"box","text":"value per share","page_number":55,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"f353c7cf-f2fb-420f-8df6-59715a19f1e1","block_type":"box","text":"204.78","page_number":55,"box":{"x":223,"y":205,"width":36,"height":6}},{"id":"ac79acaa-af7d-4b5d-ae61-d6506fa98b73","block_type":"box","text":"178.64","page_number":55,"box":{"x":295,"y":205,"width":35,"height":6}},{"id":"a0fb18ea-e086-4848-9df4-7a6c51f504d1","block_type":"box","text":"153.46","page_number":55,"box":{"x":366,"y":205,"width":35,"height":6}},{"id":"ee192476-3e32-4a66-b514-88ada635cf10","block_type":"box","text":"134.70","page_number":55,"box":{"x":439,"y":205,"width":34,"height":6}},{"id":"ae7c8c6d-d724-44f2-a4bc-7186d5a88f6d","block_type":"box","text":"Return before operating","page_number":55,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"3fd65ea7-15ba-4ea2-ac00-c1ee09788628","block_type":"box","text":"charges*","page_number":55,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"2f911555-2c93-4b47-9abc-67aeea228490","block_type":"box","text":"24.94","page_number":55,"box":{"x":229,"y":232,"width":29,"height":6}},{"id":"d8179ec8-6957-40b3-aeaa-75fbb6861bed","block_type":"box","text":"26.36","page_number":55,"box":{"x":300,"y":232,"width":30,"height":6}},{"id":"749b5744-bf07-4008-8dc4-a87dfc3e8476","block_type":"box","text":"25.41","page_number":55,"box":{"x":373,"y":232,"width":27,"height":6}},{"id":"0a169eb9-d665-496b-9859-7cc5317c9c35","block_type":"box","text":"18.97","page_number":55,"box":{"x":445,"y":232,"width":28,"height":6}},{"id":"8afecdee-a25d-46e9-8a94-9899bad37a60","block_type":"box","text":"Operating charges","page_number":55,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"bc2b8e0d-eeab-4b2f-b0f2-42600959addf","block_type":"box","text":"(0.13)","page_number":55,"box":{"x":234,"y":259,"width":29,"height":8}},{"id":"a19301c3-1bb2-4a86-9984-11179623d4dc","block_type":"box","text":"(0.22)","page_number":55,"box":{"x":304,"y":259,"width":30,"height":8}},{"id":"9e2499ab-9f8a-47b5-972a-3b50d3bdadaa","block_type":"box","text":"(0.23)","page_number":55,"box":{"x":375,"y":259,"width":30,"height":8}},{"id":"5c66e68c-041e-4828-9c09-f2393024b6d9","block_type":"box","text":"(0.21)","page_number":55,"box":{"x":447,"y":259,"width":30,"height":8}},{"id":"21d6c997-cd72-4d72-998e-025084c7e36b","block_type":"box","text":"Return after operating","page_number":55,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"649191d4-8826-4c2b-9068-799bbedbb5d6","block_type":"box","text":"charges*","page_number":55,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"34ac018b-d52e-4f0a-8bed-987dd1e99053","block_type":"box","text":"24.81","page_number":55,"box":{"x":230,"y":276,"width":27,"height":6}},{"id":"08fd6959-8f80-4bb5-af27-26040dcb2079","block_type":"box","text":"26.14","page_number":55,"box":{"x":302,"y":276,"width":28,"height":6}},{"id":"c6e75266-6212-4c1a-ac3b-63230eb63e80","block_type":"box","text":"25.18","page_number":55,"box":{"x":374,"y":276,"width":27,"height":6}},{"id":"0811a1c0-26c7-4ab3-ad44-eb3ba7abedbe","block_type":"box","text":"18.76","page_number":55,"box":{"x":445,"y":276,"width":28,"height":6}},{"id":"45de0332-9cc4-44bf-a380-819afcbaa116","block_type":"box","text":"Distributions on","page_number":55,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"0a7cff23-71b8-4d14-8523-20d9b31403df","block_type":"box","text":"accumulation shares","page_number":55,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"17cf98d2-c2c8-4431-a321-84ad49f9ee6a","block_type":"box","text":"(0.99)","page_number":55,"box":{"x":232,"y":303,"width":31,"height":8}},{"id":"4f19ed58-e11b-4122-9e8c-74d195214fd4","block_type":"box","text":"(2.87)","page_number":55,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"6e33cf1e-0f85-4cc9-98bf-bc57acbec71a","block_type":"box","text":"(3.26)","page_number":55,"box":{"x":375,"y":303,"width":30,"height":8}},{"id":"1ac1255a-cfc1-4a94-83c8-5aac1e8771e0","block_type":"box","text":"(3.16)","page_number":55,"box":{"x":448,"y":303,"width":29,"height":8}},{"id":"a9306eb2-fcc1-4226-aeb3-d7aff0e70e0c","block_type":"box","text":"Retained distributions","page_number":55,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"ab26e524-58f3-4b42-9f09-d20863c2bb07","block_type":"box","text":"on accumulation shares","page_number":55,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"d1e8ba29-48b1-4797-becc-3e73610ccd67","block_type":"box","text":"0.99","page_number":55,"box":{"x":236,"y":330,"width":22,"height":6}},{"id":"e8ae153e-664f-457b-828f-3ca5e8811f0a","block_type":"box","text":"2.87","page_number":55,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"1e61d410-91ef-4295-9261-a99abf77c449","block_type":"box","text":"3.26","page_number":55,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"8f4851b1-bc3b-4d24-b0d9-ae5b5bcdb5a2","block_type":"box","text":"3.16","page_number":55,"box":{"x":452,"y":330,"width":21,"height":6}},{"id":"f94c87ca-d14f-4def-83c4-d6c8a53fc98a","block_type":"box","text":"Closing net asset","page_number":55,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"2a7f0af3-61e4-4f46-b27c-272d1d2c37e6","block_type":"box","text":"value per share","page_number":55,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"295928f8-c85c-42f7-9709-31497fa2a4c8","block_type":"box","text":"229.59","page_number":55,"box":{"x":222,"y":357,"width":36,"height":6}},{"id":"233c1847-5064-409c-83f6-db54fe18669b","block_type":"box","text":"204.78","page_number":55,"box":{"x":294,"y":357,"width":36,"height":6}},{"id":"818c2799-b1a7-4854-bdfb-8983a37d4ec2","block_type":"box","text":"178.64","page_number":55,"box":{"x":366,"y":357,"width":36,"height":6}},{"id":"d9438096-70ae-4364-89cd-9dce0fd09ad7","block_type":"box","text":"153.46","page_number":55,"box":{"x":437,"y":357,"width":36,"height":6}},{"id":"fb2d76f7-a615-4988-a8f5-f5696889320a","block_type":"box","text":"* after direct transaction","page_number":55,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"ca06167d-6e68-4298-9ea5-4b0de8a53cc0","block_type":"box","text":"costs of:","page_number":55,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"5321eaa9-782a-4160-8522-14dabbf4ff5b","block_type":"box","text":"0.03","page_number":55,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"d7cc1a70-ac95-4612-877f-b136bb4c7994","block_type":"box","text":"0.03","page_number":55,"box":{"x":308,"y":385,"width":22,"height":6}},{"id":"de326975-535f-49a7-9137-9f59ec80df43","block_type":"box","text":"0.03","page_number":55,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"37284080-9f1e-4f82-9eea-c22d5508eafe","block_type":"box","text":"0.02","page_number":55,"box":{"x":450,"y":385,"width":23,"height":6}},{"id":"b68cb92d-1bcc-4c4e-8891-5ded524d324d","block_type":"box","text":"Performance","page_number":55,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"6a379448-deea-4bba-b847-b168ef40a4fb","block_type":"box","text":"Return after charges","page_number":55,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"21065b8d-8a87-4055-b27d-bd4059e5809f","block_type":"box","text":"12.12%","page_number":55,"box":{"x":222,"y":419,"width":36,"height":7}},{"id":"9aec0981-46db-476a-a596-10e4648af88d","block_type":"box","text":"14.63%","page_number":55,"box":{"x":292,"y":419,"width":38,"height":7}},{"id":"d27c106e-421c-443e-8af3-fb8cac32c25a","block_type":"box","text":"16.41%","page_number":55,"box":{"x":364,"y":419,"width":37,"height":7}},{"id":"a2356118-0816-4cd7-9fe4-a6a066d38459","block_type":"box","text":"13.93%","page_number":55,"box":{"x":434,"y":419,"width":39,"height":7}},{"id":"67a9c0b8-8a2e-4f9b-be58-0fef044f59fe","block_type":"box","text":"Other information","page_number":55,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"3de5a9cf-1717-437f-8ccb-19e01d8462b7","block_type":"box","text":"Closing net asset value","page_number":55,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"661b61b9-3ffb-4808-97a2-add9a74d5bcc","block_type":"box","text":"(£’000)","page_number":55,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"9b9a00fa-114a-4c0d-8b4c-f2cf441d5568","block_type":"box","text":"347,627","page_number":55,"box":{"x":217,"y":447,"width":41,"height":7}},{"id":"4f2002bb-c4fc-4fbf-b822-51d2a0744d0c","block_type":"box","text":"308,269","page_number":55,"box":{"x":287,"y":447,"width":43,"height":7}},{"id":"8844b479-6c3b-44c9-9f95-c23123fe308a","block_type":"box","text":"251,335","page_number":55,"box":{"x":360,"y":447,"width":41,"height":7}},{"id":"7919b0e3-4b94-4470-9a15-eaf73a32d3d9","block_type":"box","text":"130,344","page_number":55,"box":{"x":431,"y":447,"width":42,"height":7}},{"id":"3bafc231-59fe-443c-b066-e4a6b70b5a77","block_type":"box","text":"Closing number of","page_number":55,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"272c8992-4103-48d1-b968-603c2dcc2eaa","block_type":"box","text":"shares","page_number":55,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"9c0b1121-c4a3-4cb7-b460-c2dca939d70e","block_type":"box","text":"151,410,567","page_number":55,"box":{"x":196,"y":466,"width":62,"height":7}},{"id":"6418198b-e2f5-42a5-b14f-a2ee07c0ad1f","block_type":"box","text":"150,538,320","page_number":55,"box":{"x":265,"y":466,"width":66,"height":7}},{"id":"10f6f13a-d6db-4b75-9caa-1821d0afeb20","block_type":"box","text":"140,690,985","page_number":55,"box":{"x":336,"y":466,"width":66,"height":7}},{"id":"ca3a029c-644a-4217-9b34-706bf0bdfbbc","block_type":"box","text":"84,935,381","page_number":55,"box":{"x":413,"y":466,"width":58,"height":7}},{"id":"37c8ecf0-500c-4d73-974f-03e733789bd1","block_type":"box","text":"Operating charges","page_number":55,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"2fa204a0-f482-45bd-bb02-db7f3ff0360c","block_type":"box","text":"0.12%","page_number":55,"box":{"x":227,"y":485,"width":31,"height":6}},{"id":"5c5f0ae7-eafd-454c-a608-d3e0afefd5f9","block_type":"box","text":"0.12%","page_number":55,"box":{"x":298,"y":485,"width":32,"height":6}},{"id":"1cd39171-3fed-498d-a1a6-c98ffd29fdff","block_type":"box","text":"0.12%","page_number":55,"box":{"x":366,"y":485,"width":31,"height":6}},{"id":"ebf4bb8b-9004-4d35-bea1-4a2e2c7a9488","block_type":"box","text":"#","page_number":55,"box":{"x":398,"y":485,"width":4,"height":3}},{"id":"fe9e216e-0447-48be-91fc-4036561a6138","block_type":"box","text":"0.15%","page_number":55,"box":{"x":441,"y":485,"width":32,"height":6}},{"id":"fd377acc-39d0-4c94-8724-8df3417a537b","block_type":"box","text":"Direct transaction costs","page_number":55,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"e57c85f3-236a-4165-a4f7-2d472b58a329","block_type":"box","text":"0.01%","page_number":55,"box":{"x":227,"y":495,"width":31,"height":6}},{"id":"980a1aea-8b89-4ce0-b7a2-c060c02efb2d","block_type":"box","text":"0.01%","page_number":55,"box":{"x":298,"y":495,"width":32,"height":6}},{"id":"b5188118-b6b5-4a06-bcff-9f4614aa2924","block_type":"box","text":"0.02%","page_number":55,"box":{"x":368,"y":495,"width":33,"height":6}},{"id":"7d333097-8b55-49fa-b5cb-5b4a4eaff88e","block_type":"box","text":"0.01%","page_number":55,"box":{"x":441,"y":495,"width":32,"height":6}},{"id":"df11f1dc-dc92-40ea-b109-dd8b241bb192","block_type":"box","text":"Prices","page_number":55,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"ac1e91aa-c582-4279-8484-5f29ce01e999","block_type":"box","text":"^","page_number":55,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"7313e39a-0113-4808-bbfc-655b96132a09","block_type":"box","text":"Highest share price","page_number":55,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"ff5b52a6-d771-4e40-a68e-543b1ef35758","block_type":"box","text":"232.30","page_number":55,"box":{"x":222,"y":522,"width":36,"height":6}},{"id":"05eb732e-87f0-447a-9cd9-f6af6da28383","block_type":"box","text":"206.40","page_number":55,"box":{"x":293,"y":522,"width":37,"height":6}},{"id":"ea6097bd-88ce-4ff4-843c-c7a2f87b37e7","block_type":"box","text":"182.00","page_number":55,"box":{"x":366,"y":522,"width":35,"height":6}},{"id":"3dc81567-306c-45bd-a359-e09b64528dcc","block_type":"box","text":"153.60","page_number":55,"box":{"x":438,"y":522,"width":35,"height":6}},{"id":"f40cdc2f-868e-4020-b326-ddf76045b2e1","block_type":"box","text":"Lowest share price","page_number":55,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"fec991c0-d041-45f4-812b-6182bca3ff02","block_type":"box","text":"199.60","page_number":55,"box":{"x":223,"y":532,"width":35,"height":6}},{"id":"883a17dc-542c-429e-937a-da1df161dd2a","block_type":"box","text":"155.50","page_number":55,"box":{"x":295,"y":532,"width":35,"height":6}},{"id":"39ebc18c-d3f0-4ad5-85f1-9a76e051cec9","block_type":"box","text":"149.90","page_number":55,"box":{"x":366,"y":532,"width":35,"height":6}},{"id":"08ece48d-76e0-4368-b808-4a848234aab5","block_type":"box","text":"134.10","page_number":55,"box":{"x":439,"y":532,"width":34,"height":6}},{"id":"370441ae-b9f2-4bb0-8b69-4e872225a361","block_type":"box","text":"#","page_number":55,"box":{"x":57,"y":556,"width":3,"height":3}},{"id":"d9ab89e0-0142-43e6-89b9-f14b89c9795b","block_type":"box","text":"The FMF changed from 0.15% to 0.12% on 23 September 2024.","page_number":55,"box":{"x":64,"y":556,"width":338,"height":7}},{"id":"089665fe-1e41-4ec3-b1f8-0043b1f089e7","block_type":"box","text":"Class S Accumulation","page_number":55,"box":{"x":57,"y":581,"width":202,"height":9}},{"id":"f28ede1d-e74c-43e1-9418-9d4ad10d2e8d","block_type":"box","text":"30/06/26","page_number":55,"box":{"x":283,"y":607,"width":47,"height":6}},{"id":"b6b551eb-9a83-4780-8f52-1bb0b70375f6","block_type":"box","text":"31/12/25","page_number":55,"box":{"x":356,"y":607,"width":46,"height":6}},{"id":"bc281a71-4666-40f7-b5ad-b7149d99e8eb","block_type":"box","text":"31/12/24**","page_number":55,"box":{"x":418,"y":607,"width":55,"height":6}},{"id":"60f36031-f48e-4c4e-8b52-0ce605cd94c3","block_type":"box","text":"Change in net assets per share","page_number":55,"box":{"x":57,"y":616,"width":178,"height":8}},{"id":"e923a570-2832-4c43-a8d7-f86cf92a6198","block_type":"box","text":"(p)","page_number":55,"box":{"x":316,"y":616,"width":14,"height":8}},{"id":"83794417-77b6-4bec-b1e7-b1b9b796bd87","block_type":"box","text":"(p)","page_number":55,"box":{"x":387,"y":616,"width":14,"height":8}},{"id":"1b06daf5-513f-46b3-9906-ca8d1ecfb236","block_type":"box","text":"(p)","page_number":55,"box":{"x":459,"y":616,"width":14,"height":8}},{"id":"ed8aaaa4-c496-4220-9ded-8d67f78d1859","block_type":"box","text":"Opening net asset value per share","page_number":55,"box":{"x":57,"y":635,"width":183,"height":8}},{"id":"e7acfee0-e710-4d47-98bf-c68d9deadead","block_type":"box","text":"119.51","page_number":55,"box":{"x":297,"y":635,"width":31,"height":6}},{"id":"733edefa-cd50-4486-8da7-0e2fc4f921bc","block_type":"box","text":"104.27","page_number":55,"box":{"x":366,"y":635,"width":35,"height":6}},{"id":"3a21c2ce-678b-4e1b-a172-7bca0b96e21d","block_type":"box","text":"100.00","page_number":55,"box":{"x":438,"y":635,"width":35,"height":6}},{"id":"17bafa21-011f-4cc6-bf8f-4bf0736250b1","block_type":"box","text":"Return before operating charges*","page_number":55,"box":{"x":58,"y":652,"width":176,"height":8}},{"id":"70251aa9-857e-4f76-a333-ac4672807a7a","block_type":"box","text":"14.55","page_number":55,"box":{"x":302,"y":652,"width":28,"height":6}},{"id":"cccb5c74-b5f7-4d21-ad03-0f7e46b58bb9","block_type":"box","text":"15.40","page_number":55,"box":{"x":373,"y":652,"width":28,"height":6}},{"id":"24c81f08-22b5-4e41-b040-3f94a7cb9f94","block_type":"box","text":"4.31","page_number":55,"box":{"x":450,"y":652,"width":21,"height":6}},{"id":"55144232-12b3-4cb1-ace6-6d48a3ebaa30","block_type":"box","text":"Operating charges","page_number":55,"box":{"x":57,"y":670,"width":99,"height":8}},{"id":"d125b08e-330d-41bc-9733-97df41b51e24","block_type":"box","text":"(0.09)","page_number":55,"box":{"x":304,"y":670,"width":30,"height":8}},{"id":"9bba659b-d8a5-47d8-b787-37769fe68a02","block_type":"box","text":"(0.16)","page_number":55,"box":{"x":377,"y":670,"width":28,"height":8}},{"id":"b8312115-c1bc-420a-a8b3-ddeb6f0a77d7","block_type":"box","text":"(0.04)","page_number":55,"box":{"x":447,"y":670,"width":30,"height":8}},{"id":"c302db80-42b0-4ddf-8d86-08128fbad862","block_type":"box","text":"Return after operating charges*","page_number":55,"box":{"x":58,"y":687,"width":167,"height":8}},{"id":"fc17e044-1c9a-401f-a67a-d6d3af41a7d7","block_type":"box","text":"14.46","page_number":55,"box":{"x":302,"y":687,"width":28,"height":6}},{"id":"0d042899-da60-4e9f-9d7e-9178a874f585","block_type":"box","text":"15.24","page_number":55,"box":{"x":373,"y":687,"width":28,"height":6}},{"id":"ce4d0f5b-228a-4541-a9c8-905ea7d99dc4","block_type":"box","text":"4.27","page_number":55,"box":{"x":450,"y":687,"width":23,"height":6}},{"id":"aed8a663-8d2b-4e78-aaf9-3203264edd2f","block_type":"box","text":"Distributions on accumulation shares","page_number":55,"box":{"x":58,"y":705,"width":196,"height":6}},{"id":"8b5fa6d7-d16c-4e65-a693-dbe0ffb49285","block_type":"box","text":"(0.57)","page_number":55,"box":{"x":304,"y":705,"width":30,"height":8}},{"id":"2e318b77-4cf5-4bd0-8082-25570c41459e","block_type":"box","text":"(1.66)","page_number":55,"box":{"x":376,"y":705,"width":29,"height":8}},{"id":"6c047189-20d4-4b68-a03f-8631c4afe1c1","block_type":"box","text":"–","page_number":55,"box":{"x":467,"y":708,"width":6,"height":1}},{"id":"211aaf64-3b1b-46ce-88fc-16b16f8d7dad","block_type":"box","text":"Retained distributions on","page_number":55,"box":{"x":58,"y":722,"width":131,"height":6}},{"id":"c1a79e67-48a3-4ede-93b1-24e6c05f1d45","block_type":"box","text":"accumulation shares","page_number":55,"box":{"x":57,"y":732,"width":110,"height":6}},{"id":"dabed682-bed9-42fe-bda2-196724caf6fa","block_type":"box","text":"0.57","page_number":55,"box":{"x":308,"y":722,"width":22,"height":6}},{"id":"b0f4b324-ed2f-4699-9bf1-4e2c0810f1f2","block_type":"box","text":"1.66","page_number":55,"box":{"x":380,"y":722,"width":21,"height":6}},{"id":"d170ea2c-a766-4a1f-8a4f-17d4b3385fc8","block_type":"box","text":"–","page_number":55,"box":{"x":467,"y":726,"width":6,"height":0}},{"id":"0f5815b2-418b-423b-a806-5f8535ea2fcc","block_type":"box","text":"Closing net asset value per share","page_number":55,"box":{"x":57,"y":749,"width":191,"height":8}},{"id":"a8a25684-7bdf-4634-b4bb-dfae2ec8bfb8","block_type":"box","text":"133.97","page_number":55,"box":{"x":295,"y":749,"width":35,"height":6}},{"id":"9bc91929-32f3-405b-a34e-d8ec6031efcc","block_type":"box","text":"119.51","page_number":55,"box":{"x":367,"y":749,"width":33,"height":6}},{"id":"da9fd88a-c98a-4319-a28f-3debf5ef3244","block_type":"box","text":"104.27","page_number":55,"box":{"x":437,"y":749,"width":36,"height":6}},{"id":"6da080a5-ae2f-4882-9c37-483c8cc27cc6","block_type":"box","text":"* after direct transaction costs of:","page_number":55,"box":{"x":57,"y":767,"width":175,"height":7}},{"id":"d3014d67-da2f-4f49-9aa5-a07096f8057f","block_type":"box","text":"0.02","page_number":55,"box":{"x":308,"y":767,"width":22,"height":7}},{"id":"30a8b744-6578-4d09-958f-1228b2ab3a54","block_type":"box","text":"0.02","page_number":55,"box":{"x":379,"y":767,"width":22,"height":7}},{"id":"069d86e8-2776-4fe6-8942-5a3f88180858","block_type":"box","text":"0.02","page_number":55,"box":{"x":450,"y":767,"width":23,"height":7}},{"id":"ad71321f-bf31-44a9-ac9b-f1ad7c236899","block_type":"box","text":"Performance","page_number":55,"box":{"x":58,"y":783,"width":73,"height":6}},{"id":"119fa3de-fc50-4ae2-9a6c-946ea9c1b93d","block_type":"box","text":"Return after charges","page_number":55,"box":{"x":58,"y":793,"width":108,"height":7}},{"id":"b4b26c1a-e776-4ebf-9630-b375ce4c1aa3","block_type":"box","text":"12.10%","page_number":55,"box":{"x":293,"y":793,"width":37,"height":6}},{"id":"f8423fc9-8122-42bf-bf88-5022a9b80477","block_type":"box","text":"14.62%","page_number":55,"box":{"x":363,"y":793,"width":38,"height":6}},{"id":"b51b6e86-006d-4996-80e0-96b845ad01f3","block_type":"box","text":"4.27%","page_number":55,"box":{"x":439,"y":793,"width":34,"height":6}},{"id":"1de8206f-8d0e-41e1-8489-8bb3eeee417c","block_type":"box","text":"Other information","page_number":55,"box":{"x":57,"y":811,"width":102,"height":6}},{"id":"d72a470a-839b-4091-93f1-3a2f813488fe","block_type":"box","text":"Closing net asset value (£’000)","page_number":55,"box":{"x":57,"y":820,"width":165,"height":8}},{"id":"37238650-143c-44ef-a72d-27442e7b64bf","block_type":"box","text":"161","page_number":55,"box":{"x":312,"y":820,"width":16,"height":6}},{"id":"eb6b6488-be7d-44ba-b3d4-ce4f191d3a83","block_type":"box","text":"17","page_number":55,"box":{"x":391,"y":820,"width":10,"height":6}},{"id":"39b654b4-d5cf-4ddf-a8cf-a0bbe2967378","block_type":"box","text":"5","page_number":55,"box":{"x":467,"y":820,"width":6,"height":6}},{"id":"539a94dc-871e-4234-aac9-208b75f313f8","block_type":"box","text":"Closing number of shares","page_number":55,"box":{"x":57,"y":830,"width":136,"height":8}},{"id":"89b91219-b4ae-40b0-bdbd-f0e903a3d9c5","block_type":"box","text":"120,086","page_number":55,"box":{"x":288,"y":830,"width":42,"height":7}},{"id":"2c906a1e-f8d1-4364-b332-5813056d0931","block_type":"box","text":"14,112","page_number":55,"box":{"x":369,"y":830,"width":32,"height":7}},{"id":"8a92c22a-0d68-4bcf-b9f2-7f21989bd9bc","block_type":"box","text":"5,000","page_number":55,"box":{"x":443,"y":830,"width":30,"height":7}},{"id":"96a834ca-d2ea-41b5-bbf6-2dedef32b180","block_type":"box","text":"Operating charges","page_number":55,"box":{"x":57,"y":840,"width":99,"height":8}},{"id":"0165b439-cda7-4825-a95f-82d5b61856d9","block_type":"box","text":"0.15%","page_number":55,"box":{"x":299,"y":840,"width":31,"height":6}},{"id":"27551be1-2923-4e11-8d8b-6cbeae4c7902","block_type":"box","text":"0.15%","page_number":55,"box":{"x":370,"y":840,"width":31,"height":6}},{"id":"42e605c2-748e-4ba5-aa9b-f59b413009c3","block_type":"box","text":"0.15%","page_number":55,"box":{"x":441,"y":840,"width":32,"height":6}},{"id":"1a25f457-9b12-4509-8c3e-fa4324c36790","block_type":"box","text":"Direct transaction costs","page_number":55,"box":{"x":58,"y":850,"width":125,"height":6}},{"id":"2b50ced6-0d06-4a68-ba5e-963bd3349214","block_type":"box","text":"0.01%","page_number":55,"box":{"x":298,"y":850,"width":32,"height":7}},{"id":"721987f7-d66f-4dd7-ba53-2e4e4658d33c","block_type":"box","text":"0.01%","page_number":55,"box":{"x":369,"y":850,"width":32,"height":7}},{"id":"ff0c4ff1-7cec-4b2e-bbaf-d8d143cc8c9d","block_type":"box","text":"0.02%","page_number":55,"box":{"x":440,"y":850,"width":33,"height":7}},{"id":"0bd53cf3-cba2-4eae-a35c-b90d28fa6b46","block_type":"box","text":"Prices","page_number":55,"box":{"x":58,"y":868,"width":35,"height":6}},{"id":"a52079a3-7c33-4806-af84-f7f38b431323","block_type":"box","text":"^","page_number":55,"box":{"x":94,"y":868,"width":3,"height":2}},{"id":"9a8c2648-5fd8-4190-995b-ba0dbc259b9d","block_type":"box","text":"Highest share price","page_number":55,"box":{"x":58,"y":878,"width":102,"height":7}},{"id":"93e468b0-baf5-4b0e-8441-637b5628dd6a","block_type":"box","text":"135.50","page_number":55,"box":{"x":295,"y":878,"width":35,"height":6}},{"id":"d457ea64-bc63-4f7c-93aa-21d444380c31","block_type":"box","text":"120.50","page_number":55,"box":{"x":367,"y":878,"width":34,"height":6}},{"id":"390574f4-9d8f-451c-9535-a0bc647249ca","block_type":"box","text":"106.20","page_number":55,"box":{"x":437,"y":878,"width":36,"height":6}},{"id":"b7ff1c33-fb1b-4c36-9a28-b521794effa4","block_type":"box","text":"Lowest share price","page_number":55,"box":{"x":58,"y":888,"width":99,"height":8}},{"id":"121b3b90-2a6a-480f-9d3f-f4b5e0acae7f","block_type":"box","text":"116.50","page_number":55,"box":{"x":296,"y":888,"width":34,"height":6}},{"id":"5738426e-f222-4b47-9844-cfc5b3b270f1","block_type":"box","text":"90.80","page_number":55,"box":{"x":372,"y":888,"width":29,"height":6}},{"id":"e3f897f5-bc0c-4b8b-b702-77b7ac47c8e9","block_type":"box","text":"100.40","page_number":55,"box":{"x":438,"y":888,"width":35,"height":6}},{"id":"202d5d1e-d8e0-453a-9178-197c8904814b","block_type":"box","text":"** Class S Accumulation launched on 30 September 2024.","page_number":55,"box":{"x":57,"y":911,"width":310,"height":8}},{"id":"c442b707-9952-459e-8769-bac9c4c7795a","block_type":"box","text":"Class Z Accumulation","page_number":55,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"796aef8d-18b9-4bb8-9ced-861be65af379","block_type":"box","text":"Change in net assets","page_number":55,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"199b1cee-4e24-4e96-8521-178874cb24bc","block_type":"box","text":"30/06/26","page_number":55,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"087f2a60-7bb7-4c4b-a009-51807f78df26","block_type":"box","text":"31/12/25","page_number":55,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"00a85d5f-7192-4596-bc43-df801202e5da","block_type":"box","text":"31/12/24","page_number":55,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"297c76c0-fb81-4a7b-a719-3100a82031c9","block_type":"box","text":"31/12/23**","page_number":55,"box":{"x":882,"y":177,"width":55,"height":6}},{"id":"0d54ad8a-42a7-4ece-b92d-f7153719b90b","block_type":"box","text":"per share","page_number":55,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"f074b3ca-1522-4a6c-b53b-1980a31ec65c","block_type":"box","text":"(p)","page_number":55,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"e5b649a3-ebc9-484c-ba8c-47b4de512ca5","block_type":"box","text":"(p)","page_number":55,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"e8554457-2c13-43d3-be74-a131d13ce1f9","block_type":"box","text":"(p)","page_number":55,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"c50db2bc-f4ec-4f0c-a4f3-485cba82fc08","block_type":"box","text":"(p)","page_number":55,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"5c622df9-88cd-487c-9db1-788be26bbc3b","block_type":"box","text":"Opening net asset","page_number":55,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"81f45513-a14e-4ca2-9469-4886165b816b","block_type":"box","text":"value per share","page_number":55,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"a4f9a991-7cce-4704-b9a9-bb0329ac9f84","block_type":"box","text":"145.89","page_number":55,"box":{"x":688,"y":205,"width":35,"height":6}},{"id":"028b8a37-d215-4c1a-83ed-f398c679d256","block_type":"box","text":"127.56","page_number":55,"box":{"x":761,"y":205,"width":33,"height":6}},{"id":"757df3a0-7990-4826-bc22-c9143ba5348c","block_type":"box","text":"109.83","page_number":55,"box":{"x":831,"y":205,"width":35,"height":6}},{"id":"78af5e0f-787b-4a3f-8a27-14f964cfe442","block_type":"box","text":"100.00","page_number":55,"box":{"x":902,"y":205,"width":35,"height":6}},{"id":"67ccca57-af44-4a59-a572-e24d1d9e1758","block_type":"box","text":"Return before operating","page_number":55,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"89d87965-0631-4121-94f0-2f1473f3eb76","block_type":"box","text":"charges*","page_number":55,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"d493a075-2e83-4cf7-8012-71b6a76b999c","block_type":"box","text":"17.79","page_number":55,"box":{"x":697,"y":232,"width":26,"height":6}},{"id":"9ebf7e7f-788a-4fd5-be33-1377f1262afe","block_type":"box","text":"18.87","page_number":55,"box":{"x":766,"y":232,"width":28,"height":6}},{"id":"659157f1-4660-4c2c-86c8-9c469fb1bf5d","block_type":"box","text":"18.22","page_number":55,"box":{"x":837,"y":232,"width":29,"height":6}},{"id":"41359613-c07b-4f8e-952a-362ca2561448","block_type":"box","text":"10.24","page_number":55,"box":{"x":909,"y":232,"width":28,"height":6}},{"id":"629e99a8-20a8-4092-92c0-d8d896c214c3","block_type":"box","text":"Operating charges","page_number":55,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"185ef88a-8ef4-4244-aa4d-def421317d27","block_type":"box","text":"(0.26)","page_number":55,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"681590fe-9317-4265-8d5c-98dd30582fbc","block_type":"box","text":"(0.54)","page_number":55,"box":{"x":768,"y":259,"width":30,"height":8}},{"id":"eb4ea991-afe0-490e-bf58-de65f2e2ee74","block_type":"box","text":"(0.49)","page_number":55,"box":{"x":840,"y":259,"width":30,"height":8}},{"id":"3f4d1275-2848-4900-9af0-935c8e355fc8","block_type":"box","text":"(0.41)","page_number":55,"box":{"x":912,"y":259,"width":29,"height":8}},{"id":"6e9f6803-6668-4c4d-aa9f-156eb750a560","block_type":"box","text":"Return after operating","page_number":55,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"48edf4eb-a9a9-4a38-a785-95d575918609","block_type":"box","text":"charges*","page_number":55,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"f581cbfb-3788-415b-a7b2-4e318fad0b37","block_type":"box","text":"17.53","page_number":55,"box":{"x":696,"y":276,"width":27,"height":6}},{"id":"aabcd4dc-8610-4b8c-ad53-f1a35c29a9e6","block_type":"box","text":"18.33","page_number":55,"box":{"x":766,"y":276,"width":28,"height":6}},{"id":"ed5ab4e2-dfa4-4b9e-9baa-5b6c4d1dad57","block_type":"box","text":"17.73","page_number":55,"box":{"x":840,"y":276,"width":26,"height":6}},{"id":"29080d31-a81a-47b6-b736-976ae1575869","block_type":"box","text":"9.83","page_number":55,"box":{"x":915,"y":276,"width":22,"height":6}},{"id":"9ad736c0-9905-4b70-baf3-00dbaa24a1cc","block_type":"box","text":"Distributions on","page_number":55,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"99401557-d407-45c8-b42a-cff1051c13f5","block_type":"box","text":"accumulation shares","page_number":55,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"13eae60c-c7f2-4636-bd56-6bc2df5d2fc9","block_type":"box","text":"(0.57)","page_number":55,"box":{"x":697,"y":303,"width":30,"height":8}},{"id":"f19c36fa-82ac-4ffa-83f4-0ea8fbc7a63e","block_type":"box","text":"(1.76)","page_number":55,"box":{"x":770,"y":303,"width":28,"height":8}},{"id":"3e7f37b7-5eea-4298-816a-319858bdae1c","block_type":"box","text":"(2.10)","page_number":55,"box":{"x":841,"y":303,"width":29,"height":8}},{"id":"588e391a-cd4c-4ac3-86e8-a40949794d01","block_type":"box","text":"(1.98)","page_number":55,"box":{"x":912,"y":303,"width":29,"height":8}},{"id":"1bb643cb-b808-4e68-a272-c51a1ac90306","block_type":"box","text":"Retained distributions","page_number":55,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"a659881b-9a15-48ac-a534-298bcf349718","block_type":"box","text":"on accumulation shares","page_number":55,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"22dbc92d-e069-448a-8741-c1a428398a00","block_type":"box","text":"0.57","page_number":55,"box":{"x":700,"y":330,"width":23,"height":6}},{"id":"06201c41-8426-4a96-bf4d-72c0ba23a146","block_type":"box","text":"1.76","page_number":55,"box":{"x":774,"y":330,"width":20,"height":6}},{"id":"8ded479f-acf3-4950-b4c9-7408b92cafac","block_type":"box","text":"2.10","page_number":55,"box":{"x":844,"y":330,"width":22,"height":6}},{"id":"0ec9d401-eeec-4eea-a650-56a815c163f3","block_type":"box","text":"1.98","page_number":55,"box":{"x":916,"y":330,"width":21,"height":6}},{"id":"887d1984-c5db-4cf8-9980-95fe1dd10731","block_type":"box","text":"Closing net asset","page_number":55,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"0e0137a3-11fa-46f2-afea-5e021b771b9a","block_type":"box","text":"value per share","page_number":55,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"34e0123f-9a02-4ca0-a66a-9bd59ee5f685","block_type":"box","text":"163.42","page_number":55,"box":{"x":687,"y":357,"width":36,"height":6}},{"id":"77a75f56-1ecd-466f-911c-d1b427949b1d","block_type":"box","text":"145.89","page_number":55,"box":{"x":759,"y":357,"width":35,"height":6}},{"id":"cd895aec-78d8-4fcc-814f-c96d6b703d0a","block_type":"box","text":"127.56","page_number":55,"box":{"x":831,"y":357,"width":35,"height":6}},{"id":"1f655ffe-272a-4fd4-b2b4-6e3711c287b1","block_type":"box","text":"109.83","page_number":55,"box":{"x":902,"y":357,"width":35,"height":6}},{"id":"a978b438-34f7-45f5-8cca-65e6c7a9f2f3","block_type":"box","text":"* after direct transaction","page_number":55,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"829850f2-d9c7-48d9-a6d2-423d712442be","block_type":"box","text":"costs of:","page_number":55,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"6a893fe2-ef1c-44ec-ba90-dcac33887369","block_type":"box","text":"0.02","page_number":55,"box":{"x":700,"y":385,"width":23,"height":6}},{"id":"962ed697-12db-4415-976c-5e87e5842c47","block_type":"box","text":"0.02","page_number":55,"box":{"x":772,"y":385,"width":22,"height":6}},{"id":"c36377a0-2b2f-4bf5-b27f-1dc6647de94b","block_type":"box","text":"0.02","page_number":55,"box":{"x":843,"y":385,"width":23,"height":6}},{"id":"02401583-6600-4d3d-bdc3-44a0e2da0c78","block_type":"box","text":"0.01","page_number":55,"box":{"x":915,"y":385,"width":20,"height":6}},{"id":"6b6165d0-3638-4bb6-bb18-6beca52c7849","block_type":"box","text":"Performance","page_number":55,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"06795886-6297-4e6e-99c4-a5eeb131ebef","block_type":"box","text":"Return after charges","page_number":55,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"74968d39-534c-44b9-826b-501fadc1e280","block_type":"box","text":"12.02%","page_number":55,"box":{"x":684,"y":419,"width":39,"height":7}},{"id":"e15247c0-4ce8-439c-8740-f561573a4181","block_type":"box","text":"14.37%","page_number":55,"box":{"x":756,"y":419,"width":38,"height":7}},{"id":"aa107f5d-869a-457f-a212-fe29bf36afc7","block_type":"box","text":"16.14%","page_number":55,"box":{"x":829,"y":419,"width":36,"height":7}},{"id":"858636eb-70ee-407e-996d-d2190dad1440","block_type":"box","text":"9.83%","page_number":55,"box":{"x":904,"y":419,"width":33,"height":7}},{"id":"bb5c5a4b-97ac-4785-81c7-c55407373fae","block_type":"box","text":"Other information","page_number":55,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"4677aa2e-2e54-4f43-b61f-ed546dbd62a2","block_type":"box","text":"Closing net asset value","page_number":55,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"6837d398-5d5a-47e3-9b2b-b85222ac1a81","block_type":"box","text":"(£’000)","page_number":55,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"86940d99-7b95-474f-927e-087e2584291e","block_type":"box","text":"32,679","page_number":55,"box":{"x":687,"y":447,"width":36,"height":7}},{"id":"a14536ef-cce4-4da4-8f23-bb519f4d1cd5","block_type":"box","text":"26,672","page_number":55,"box":{"x":758,"y":447,"width":36,"height":7}},{"id":"8dc58796-72dc-4701-af55-6e68af3ed013","block_type":"box","text":"7,335","page_number":55,"box":{"x":837,"y":447,"width":29,"height":7}},{"id":"20cd65d5-caca-48f1-9aaf-36f5d8c0c159","block_type":"box","text":"43","page_number":55,"box":{"x":924,"y":447,"width":13,"height":6}},{"id":"c653df8b-579c-43fb-a9c9-1f165c8ab9a8","block_type":"box","text":"Closing number of","page_number":55,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"b97b3b0a-51f1-4009-9ac7-4c6fc646cd19","block_type":"box","text":"shares","page_number":55,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"074b1586-2d2d-407f-9f20-e47fd02131a9","block_type":"box","text":"19,996,749","page_number":55,"box":{"x":665,"y":466,"width":58,"height":7}},{"id":"b3bb0e3a-418f-474d-b482-b61eb7d25b4f","block_type":"box","text":"18,282,237","page_number":55,"box":{"x":736,"y":466,"width":58,"height":7}},{"id":"7249c66e-bb7e-429d-816c-a85654fcaa6d","block_type":"box","text":"5,750,270","page_number":55,"box":{"x":813,"y":466,"width":53,"height":7}},{"id":"d9963eb9-1d36-4356-9689-34beafee0775","block_type":"box","text":"39,265","page_number":55,"box":{"x":901,"y":466,"width":36,"height":7}},{"id":"5736dd2d-2198-4371-a1cc-59c9e5194ceb","block_type":"box","text":"Operating charges","page_number":55,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"cdc09446-5b08-4991-9a8a-a3a93fb46636","block_type":"box","text":"0.30%","page_number":55,"box":{"x":685,"y":485,"width":33,"height":6}},{"id":"c79851d7-98ef-4e0d-a30e-c04f1396ff78","block_type":"box","text":"#","page_number":55,"box":{"x":719,"y":485,"width":4,"height":3}},{"id":"7588e25a-43a4-4d5b-b6af-85d37d34af71","block_type":"box","text":"0.40%","page_number":55,"box":{"x":761,"y":485,"width":33,"height":6}},{"id":"d4224518-e544-4949-b5fb-1096c7e0921d","block_type":"box","text":"0.40%","page_number":55,"box":{"x":833,"y":485,"width":32,"height":6}},{"id":"0f8a8a9e-655d-4af4-8b32-01e33f825379","block_type":"box","text":"0.40%","page_number":55,"box":{"x":904,"y":485,"width":33,"height":6}},{"id":"ed3fa1a9-a810-4707-aa24-4496b9472935","block_type":"box","text":"Direct transaction costs","page_number":55,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"703ef727-5b3b-4e98-8dc3-f8385108f9c3","block_type":"box","text":"0.01%","page_number":55,"box":{"x":691,"y":495,"width":32,"height":6}},{"id":"b35f4480-6142-411c-b5a8-768c2d2a8d51","block_type":"box","text":"0.01%","page_number":55,"box":{"x":762,"y":495,"width":32,"height":6}},{"id":"9d360af5-1662-49c8-969f-5d5cefea4ae3","block_type":"box","text":"0.02%","page_number":55,"box":{"x":833,"y":495,"width":32,"height":6}},{"id":"84da3fc5-9453-4c57-ae85-ddd839158f6f","block_type":"box","text":"0.01%","page_number":55,"box":{"x":905,"y":495,"width":32,"height":6}},{"id":"2ad34fae-a4e2-4c5d-916c-4ffeffb16fa8","block_type":"box","text":"Prices","page_number":55,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"cf551ce9-8b3d-4234-bd27-00676de3f9cf","block_type":"box","text":"^","page_number":55,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"8dbaa75e-ef56-4a70-bdc8-2d8b42b32979","block_type":"box","text":"Highest share price","page_number":55,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"d248c47c-2ef7-4ed7-94a0-9da0d861de81","block_type":"box","text":"165.30","page_number":55,"box":{"x":688,"y":522,"width":35,"height":6}},{"id":"683457d7-62f6-4774-a7ab-8401b2209f68","block_type":"box","text":"147.10","page_number":55,"box":{"x":763,"y":522,"width":31,"height":6}},{"id":"1794c3e1-3e9d-48c7-adb4-161c42eee2b1","block_type":"box","text":"130.00","page_number":55,"box":{"x":831,"y":522,"width":35,"height":6}},{"id":"224145b4-3463-4ed8-86f1-6743f186542b","block_type":"box","text":"109.90","page_number":55,"box":{"x":902,"y":522,"width":35,"height":6}},{"id":"94174ef6-2434-402a-a5cc-c18b72236c80","block_type":"box","text":"Lowest share price","page_number":55,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"e8a5a42f-9ae1-4112-9d7b-3bcf0787b91a","block_type":"box","text":"142.10","page_number":55,"box":{"x":690,"y":532,"width":33,"height":6}},{"id":"fbbac06d-73f3-44c3-9c4d-2c71e2b7067f","block_type":"box","text":"111.00","page_number":55,"box":{"x":761,"y":532,"width":33,"height":6}},{"id":"0795b6e8-c9ed-4f86-8062-d2a783724c7d","block_type":"box","text":"107.30","page_number":55,"box":{"x":832,"y":532,"width":34,"height":6}},{"id":"62449d0a-714f-48c0-950f-10aeef4692cf","block_type":"box","text":"96.18","page_number":55,"box":{"x":909,"y":532,"width":28,"height":6}},{"id":"50017d3e-3ab3-46b4-848c-0ad1a2cb9049","block_type":"box","text":"** Class Z Accumulation launched on 31 January 2023.","page_number":55,"box":{"x":521,"y":556,"width":293,"height":7}},{"id":"162b3e82-dca7-4dc1-b554-1272e6eeef93","block_type":"box","text":"#","page_number":55,"box":{"x":521,"y":570,"width":4,"height":3}},{"id":"6a5ce873-e9fd-4e28-82ad-46517022a345","block_type":"box","text":"The FMF changed from 0.40% to 0.30% on 31 March 2026.","page_number":55,"box":{"x":528,"y":570,"width":316,"height":8}},{"id":"150ed641-a322-400a-9fbf-9b2885eaec05","block_type":"box","text":"^","page_number":55,"box":{"x":521,"y":584,"width":3,"height":2}},{"id":"e089c11c-d470-4d51-b9dc-df6cd3476be5","block_type":"box","text":"The high and low prices disclosed are the high and low prices for the accounting","page_number":55,"box":{"x":527,"y":584,"width":415,"height":8}},{"id":"afd1f521-17b2-4c29-a105-dcfd8ce616b8","block_type":"box","text":"period and not the calendar year.","page_number":55,"box":{"x":522,"y":595,"width":174,"height":7}},{"id":"19d49c45-ed7d-47b6-a9cc-5098535487f2","block_type":"box","text":"From 3 June 2019, the Fund has received a full rebate of","page_number":55,"box":{"x":522,"y":613,"width":421,"height":9}},{"id":"08f509cb-25c0-4d73-8255-070d49164a17","block_type":"box","text":"synthetic costs to maintain the Fund Management Fee at a","page_number":55,"box":{"x":521,"y":626,"width":421,"height":10}},{"id":"b127e76a-4140-4a21-9d64-3b57ffe76014","block_type":"box","text":"fixed level.","page_number":55,"box":{"x":521,"y":639,"width":71,"height":8}},{"id":"68b1a063-5381-41a7-a8cc-aa2c2d1866ee","block_type":"box","text":"It should be noted that past performance is not a reliable","page_number":55,"box":{"x":522,"y":655,"width":420,"height":10}},{"id":"30e324ef-6724-4958-a903-09bdfd9d80a8","block_type":"box","text":"indicator of future performance and that the value of shares,","page_number":55,"box":{"x":522,"y":668,"width":419,"height":10}},{"id":"ebce2c8b-2534-4b73-82c8-a0a9c15da419","block_type":"box","text":"and the income derived from them, can vary.","page_number":55,"box":{"x":521,"y":681,"width":303,"height":10}},{"id":"49d71444-fce9-496f-b9e8-f1df6d005014","block_type":"box","text":"Comparative Tables","page_number":55,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"5c2dba70-d921-4521-af12-ffbb53953817","block_type":"box","text":"(continued)","page_number":55,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"7d608c7d-e6ad-483c-9cc5-a140dc6be14a","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund | Royal London Multi-Asset Funds ICVC","page_number":55,"box":{"x":469,"y":33,"width":444,"height":8}},{"id":"2ae752d6-7591-4931-aebb-e802c3f64af0","block_type":"box","text":"55","page_number":55,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"675508c0-7a1f-4c41-b036-1c7f7c4bc6cf","block_type":"box","text":"Portfolio Statement","page_number":56,"box":{"x":58,"y":94,"width":233,"height":11}},{"id":"c51d2c27-512b-4b73-aa22-da34a4434b76","block_type":"box","text":"As at 30","page_number":56,"box":{"x":57,"y":113,"width":55,"height":8}},{"id":"072f7571-2809-4e02-927c-5a7364132579","block_type":"box","text":"June 2026","page_number":56,"box":{"x":117,"y":113,"width":70,"height":8}},{"id":"6409557c-7533-4716-958c-2adcca01ac68","block_type":"box","text":"Bond Collective Investment Schemes – 3.05% (31/12/25 – 7.60%)","page_number":56,"box":{"x":58,"y":201,"width":364,"height":8}},{"id":"d7ce3cbb-bf3a-4961-a67d-65770b2eb4a0","block_type":"box","text":"13,898,830","page_number":56,"box":{"x":63,"y":211,"width":57,"height":7}},{"id":"9b8cf6f2-80c9-4958-9a6b-fdf4bbbf8d23","block_type":"box","text":"Royal London Sterling Liquidity Money","page_number":56,"box":{"x":129,"y":211,"width":200,"height":8}},{"id":"8f9a1fab-c1fe-47a0-b80d-1af916fa95fd","block_type":"box","text":"Market Fund R Inc","page_number":56,"box":{"x":129,"y":221,"width":96,"height":6}},{"id":"caef5ddd-4669-434f-b114-b85152e7f97f","block_type":"box","text":"†","page_number":56,"box":{"x":225,"y":220,"width":3,"height":5}},{"id":"f4b9b548-e3e8-4e2e-bdf1-9373f4964af5","block_type":"box","text":"13,899","page_number":56,"box":{"x":365,"y":220,"width":34,"height":8}},{"id":"6bd37373-972f-4f96-b30f-488951d077b7","block_type":"box","text":"3.05","page_number":56,"box":{"x":450,"y":220,"width":22,"height":7}},{"id":"0c76a30a-b315-459e-a91f-46210cdea77b","block_type":"box","text":"Total Bond Collective Investment Schemes","page_number":56,"box":{"x":57,"y":237,"width":239,"height":6}},{"id":"3132b061-166f-47d5-8e83-309f91896f2f","block_type":"box","text":"13,899","page_number":56,"box":{"x":364,"y":237,"width":35,"height":7}},{"id":"21f757b6-2826-4890-b6c5-345a9e8060f6","block_type":"box","text":"3.05","page_number":56,"box":{"x":450,"y":237,"width":22,"height":6}},{"id":"487cca2b-9712-45e0-b5db-5a8fccb374bd","block_type":"box","text":"Equity Collective Investment Schemes – 93.92% (31/12/25 – 89.62%)","page_number":56,"box":{"x":58,"y":253,"width":385,"height":8}},{"id":"1cfed408-1cd7-45dc-8a32-b5aae362c9c5","block_type":"box","text":"14,107,935","page_number":56,"box":{"x":63,"y":262,"width":57,"height":8}},{"id":"13255986-f1b0-48aa-a4e4-f5c6c76b35a5","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt","page_number":56,"box":{"x":129,"y":262,"width":204,"height":8}},{"id":"4d85cc02-d527-4e95-8641-bc216ab38415","block_type":"box","text":"Fund R Acc","page_number":56,"box":{"x":129,"y":272,"width":60,"height":6}},{"id":"6ec3156a-660e-4d93-b1fd-82bad2d4a66a","block_type":"box","text":"†","page_number":56,"box":{"x":189,"y":272,"width":3,"height":4}},{"id":"dcfba5cb-10bd-4511-b210-74923ade8f6b","block_type":"box","text":"14,108","page_number":56,"box":{"x":365,"y":272,"width":34,"height":7}},{"id":"37f6a235-7ae5-460b-a2ca-9f0486a8ec02","block_type":"box","text":"3.10","page_number":56,"box":{"x":450,"y":272,"width":22,"height":6}},{"id":"c6dd9ff7-9339-4f11-a9fc-15675c81ac7a","block_type":"box","text":"58,409,956","page_number":56,"box":{"x":63,"y":281,"width":57,"height":8}},{"id":"1539a8a1-5f91-4d55-8f20-8a57a20ed66b","block_type":"box","text":"Royal London Emerging Markets Equity","page_number":56,"box":{"x":129,"y":282,"width":206,"height":7}},{"id":"ab3cbf4e-9c4e-4ae3-b970-09a10e272e5b","block_type":"box","text":"Tilt Fund R Acc","page_number":56,"box":{"x":128,"y":291,"width":79,"height":6}},{"id":"02708797-ab5e-4a79-ad1a-9b2b925d29ea","block_type":"box","text":"†","page_number":56,"box":{"x":208,"y":291,"width":3,"height":4}},{"id":"9ff50609-aafc-439c-8c9d-5e3f33813baf","block_type":"box","text":"58,410","page_number":56,"box":{"x":364,"y":291,"width":35,"height":7}},{"id":"25dbbfd2-c0f8-4588-809f-4576b45b40c2","block_type":"box","text":"12.82","page_number":56,"box":{"x":444,"y":291,"width":28,"height":6}},{"id":"9ee0c005-c433-448b-878e-299750b7f8b8","block_type":"box","text":"17,395,182","page_number":56,"box":{"x":63,"y":300,"width":57,"height":8}},{"id":"a6474db4-ced9-4f09-b4b7-b392f92d8afc","block_type":"box","text":"Royal London Europe ex UK Equity Tilt","page_number":56,"box":{"x":129,"y":301,"width":202,"height":7}},{"id":"cf4282d1-f0d4-4cf5-8675-71ac4d8b8413","block_type":"box","text":"Fund R Acc","page_number":56,"box":{"x":129,"y":310,"width":60,"height":6}},{"id":"5a7dd0fa-2065-469e-82c5-10191dc69ee1","block_type":"box","text":"†","page_number":56,"box":{"x":189,"y":310,"width":3,"height":4}},{"id":"7120a767-cd01-4061-863f-201b0b581d43","block_type":"box","text":"17,395","page_number":56,"box":{"x":365,"y":310,"width":34,"height":7}},{"id":"cea6aff3-3d14-4463-80fd-764ff8d5dd90","block_type":"box","text":"3.82","page_number":56,"box":{"x":450,"y":310,"width":22,"height":6}},{"id":"e0002b02-320a-4309-829f-f93257f6c983","block_type":"box","text":"68,099,537","page_number":56,"box":{"x":63,"y":319,"width":57,"height":8}},{"id":"f013f31d-9238-4d07-aebf-b683f743455b","block_type":"box","text":"Royal London Global Equity Diversified","page_number":56,"box":{"x":129,"y":319,"width":202,"height":8}},{"id":"80bc1888-0db2-4c2a-bdec-60e9cb7b4410","block_type":"box","text":"Fund R Acc","page_number":56,"box":{"x":129,"y":329,"width":60,"height":6}},{"id":"e4787818-c09a-451f-8734-a432691f4981","block_type":"box","text":"†","page_number":56,"box":{"x":189,"y":329,"width":3,"height":4}},{"id":"785e9753-653d-41a3-b433-9c7818f94ee7","block_type":"box","text":"68,100","page_number":56,"box":{"x":364,"y":329,"width":35,"height":7}},{"id":"86c1ea60-30f0-45dd-bc8a-186dfee439f4","block_type":"box","text":"14.95","page_number":56,"box":{"x":444,"y":329,"width":28,"height":6}},{"id":"548a60b7-0609-48d4-b010-c76c5fbce91f","block_type":"box","text":"68,687,048","page_number":56,"box":{"x":63,"y":338,"width":57,"height":8}},{"id":"8ba442ac-bc35-4b87-a193-cb9074743ae8","block_type":"box","text":"Royal London Global Equity Enhanced","page_number":56,"box":{"x":129,"y":338,"width":200,"height":8}},{"id":"6b3d06ac-5bad-48a2-813a-2ef1fd479ffb","block_type":"box","text":"Fund R Acc","page_number":56,"box":{"x":129,"y":348,"width":60,"height":6}},{"id":"504a1167-8eb2-4024-87eb-f290b72efb68","block_type":"box","text":"†","page_number":56,"box":{"x":189,"y":348,"width":3,"height":4}},{"id":"b329f1d1-18ea-4df2-98f3-fe204305c942","block_type":"box","text":"68,687","page_number":56,"box":{"x":364,"y":348,"width":35,"height":7}},{"id":"9b26d801-b801-4e74-af70-71058e90b805","block_type":"box","text":"15.08","page_number":56,"box":{"x":444,"y":348,"width":28,"height":6}},{"id":"6d55832f-f775-4a4c-bf44-b6aef5b3d7ec","block_type":"box","text":"22,867,042","page_number":56,"box":{"x":62,"y":357,"width":58,"height":8}},{"id":"dec8daa9-2f48-4781-8f34-0786eaefdcb8","block_type":"box","text":"Royal London Global Equity Tilt R Acc","page_number":56,"box":{"x":129,"y":357,"width":197,"height":8}},{"id":"111bac62-2cc1-44be-baf1-58503cf98ecd","block_type":"box","text":"†","page_number":56,"box":{"x":326,"y":357,"width":4,"height":5}},{"id":"d0302a1d-3657-4222-8f67-a8264526a0ff","block_type":"box","text":"22,867","page_number":56,"box":{"x":364,"y":357,"width":35,"height":8}},{"id":"803cef3e-cbcc-49c9-9a12-c540ed68a6a9","block_type":"box","text":"5.02","page_number":56,"box":{"x":450,"y":357,"width":22,"height":7}},{"id":"a355abcd-508e-41af-8074-25738890a5da","block_type":"box","text":"9,019,244","page_number":56,"box":{"x":69,"y":367,"width":51,"height":7}},{"id":"d2535422-dab5-48fc-b929-1fb829f32bca","block_type":"box","text":"Royal London Japan Equity Tilt Fund","page_number":56,"box":{"x":129,"y":367,"width":190,"height":8}},{"id":"e6f1be4e-0bc8-4024-97f2-bc248baef423","block_type":"box","text":"R Acc","page_number":56,"box":{"x":129,"y":377,"width":30,"height":6}},{"id":"e7bef957-0461-4b35-9eef-bf3b0e3a0b09","block_type":"box","text":"†","page_number":56,"box":{"x":159,"y":376,"width":3,"height":5}},{"id":"7e7ce87e-ba4f-4101-9435-ecfccdd8121c","block_type":"box","text":"9,019","page_number":56,"box":{"x":371,"y":377,"width":28,"height":7}},{"id":"7fb60677-9373-4472-b392-0ea990231b37","block_type":"box","text":"1.98","page_number":56,"box":{"x":451,"y":377,"width":21,"height":6}},{"id":"94abf050-d581-43a4-a904-f1e38aa3e098","block_type":"box","text":"95,644,445","page_number":56,"box":{"x":63,"y":386,"width":57,"height":7}},{"id":"7d2a3b9b-2941-4250-af50-55a2c665b91e","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund","page_number":56,"box":{"x":129,"y":386,"width":209,"height":8}},{"id":"eb63ec42-157c-454c-877a-4e4d9da3fcbf","block_type":"box","text":"R Acc","page_number":56,"box":{"x":129,"y":396,"width":30,"height":6}},{"id":"8b940f91-93ff-4fcf-a240-8de18221ade9","block_type":"box","text":"†","page_number":56,"box":{"x":159,"y":396,"width":3,"height":4}},{"id":"189405fe-3f48-48a2-b7b4-44b666e0c53f","block_type":"box","text":"95,645","page_number":56,"box":{"x":364,"y":396,"width":35,"height":7}},{"id":"b6d2180e-7222-4b36-a531-ce986f3fcc5c","block_type":"box","text":"20.99","page_number":56,"box":{"x":443,"y":396,"width":29,"height":6}},{"id":"14dd3071-f962-4b9a-911f-58c4834ad3aa","block_type":"box","text":"73,609,271","page_number":56,"box":{"x":63,"y":405,"width":56,"height":7}},{"id":"3ad5ef83-cbc4-484b-b7a9-fe4ccbbba05f","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":56,"box":{"x":129,"y":405,"width":209,"height":8}},{"id":"34c48537-79e8-4d1a-b7df-929cd849b49d","block_type":"box","text":"†","page_number":56,"box":{"x":339,"y":405,"width":3,"height":4}},{"id":"8c69b25f-c862-45d8-bb3a-803eb7f24176","block_type":"box","text":"73,609","page_number":56,"box":{"x":364,"y":405,"width":35,"height":7}},{"id":"683622f7-e3e6-4895-b89a-b4bcbe2914f1","block_type":"box","text":"16.16","page_number":56,"box":{"x":444,"y":405,"width":28,"height":6}},{"id":"820783ae-96af-425d-8cb3-42189eda63b2","block_type":"box","text":"Total Equity Collective Investment Schemes","page_number":56,"box":{"x":57,"y":421,"width":245,"height":8}},{"id":"734602bb-c395-4615-8d59-43d928dd233f","block_type":"box","text":"427,840","page_number":56,"box":{"x":357,"y":421,"width":42,"height":8}},{"id":"8672e7f7-7599-4855-be77-b61e67acd385","block_type":"box","text":"93.92","page_number":56,"box":{"x":443,"y":421,"width":29,"height":6}},{"id":"36e7e9d3-ab80-4fc5-ac65-3049e0c8e648","block_type":"box","text":"Exchange Traded Funds – 1.02% (31/12/25 – 1.02%)","page_number":56,"box":{"x":58,"y":437,"width":288,"height":8}},{"id":"726cbc99-edfc-49dc-acb2-233cdd93b630","block_type":"box","text":"4,654,171","page_number":56,"box":{"x":69,"y":447,"width":50,"height":7}},{"id":"e643b12f-0676-40c3-a7ad-7c8be3ecd928","block_type":"box","text":"iShares MSCI Canada UCITS ETF","page_number":56,"box":{"x":129,"y":447,"width":180,"height":6}},{"id":"1087164c-a011-413a-9cef-f0ccb7d1d371","block_type":"box","text":"4,654","page_number":56,"box":{"x":370,"y":447,"width":29,"height":7}},{"id":"ef919058-7277-4d75-8f9b-90cac8e2b653","block_type":"box","text":"1.02","page_number":56,"box":{"x":451,"y":447,"width":21,"height":6}},{"id":"db342505-0cc9-4402-8977-c9e153235a8f","block_type":"box","text":"Total Exchange Traded Funds","page_number":56,"box":{"x":57,"y":463,"width":165,"height":8}},{"id":"e74766eb-6a55-4fbf-a89a-506589d9e2da","block_type":"box","text":"4,654","page_number":56,"box":{"x":370,"y":463,"width":29,"height":8}},{"id":"5ff42674-e385-437f-91bf-527b58b88777","block_type":"box","text":"1.02","page_number":56,"box":{"x":450,"y":463,"width":22,"height":6}},{"id":"b9304a8d-f2a8-4170-a49d-e411ace7c8a4","block_type":"box","text":"Forward Currency Contracts – 0.08% (31/12/25 – (0.09)%)","page_number":56,"box":{"x":58,"y":479,"width":322,"height":8}},{"id":"a87caa0b-1b56-45f1-8207-28b2b1f0df89","block_type":"box","text":"Buy AUD3,560,410 & Sell £1,887,497*","page_number":56,"box":{"x":129,"y":489,"width":199,"height":8}},{"id":"cfc82af9-964f-4761-bc55-c8556e77040d","block_type":"box","text":"(30)","page_number":56,"box":{"x":383,"y":489,"width":20,"height":8}},{"id":"66e24270-d1ed-4f5a-abdf-50d5c20d5c79","block_type":"box","text":"(0.01)","page_number":56,"box":{"x":446,"y":489,"width":30,"height":8}},{"id":"9731bcd3-5768-4b0b-98b2-77ad5aabd48b","block_type":"box","text":"Buy €220,998 & Sell £191,311*","page_number":56,"box":{"x":129,"y":498,"width":161,"height":8}},{"id":"a77f9b93-2bfd-45a0-a505-2e460c300918","block_type":"box","text":"(1)","page_number":56,"box":{"x":390,"y":498,"width":13,"height":8}},{"id":"aa178c7c-198b-41b7-8001-5e74bce30f14","block_type":"box","text":"–","page_number":56,"box":{"x":466,"y":502,"width":6,"height":1}},{"id":"4c226e95-8101-43e8-8c29-edb03813efca","block_type":"box","text":"Buy £4,372,849 & Sell AUD8,306,574*","page_number":56,"box":{"x":129,"y":508,"width":199,"height":8}},{"id":"23b5eebb-444d-4aab-8cb1-f3a9faa3027d","block_type":"box","text":"38","page_number":56,"box":{"x":387,"y":508,"width":12,"height":6}},{"id":"bb8052c4-d3af-44c0-aede-f3101d3cdf3f","block_type":"box","text":"0.01","page_number":56,"box":{"x":450,"y":508,"width":20,"height":6}},{"id":"92f1f90a-f25e-4d89-b03e-2cc902f0fa8c","block_type":"box","text":"Buy £4,047 & Sell CAD7,595*","page_number":56,"box":{"x":129,"y":517,"width":154,"height":8}},{"id":"88f8b7c5-a9f9-4147-b132-4455c33aa2a0","block_type":"box","text":"–","page_number":56,"box":{"x":393,"y":521,"width":6,"height":1}},{"id":"081f8bc8-e7a1-4bb5-b215-98666a8100ad","block_type":"box","text":"–","page_number":56,"box":{"x":466,"y":521,"width":6,"height":1}},{"id":"b68d0d54-7acb-4f69-84a3-6f4e12322f65","block_type":"box","text":"Buy £1,545,274 & Sell CHF1,643,154*","page_number":56,"box":{"x":129,"y":527,"width":199,"height":8}},{"id":"f06c3e3c-2300-4c98-ab13-3550dceed980","block_type":"box","text":"8","page_number":56,"box":{"x":393,"y":527,"width":6,"height":6}},{"id":"862aed44-0c27-481b-8fa4-77c2f09b63a3","block_type":"box","text":"–","page_number":56,"box":{"x":466,"y":531,"width":6,"height":0}},{"id":"ee8861c2-52f8-40df-8129-f7e262c058c9","block_type":"box","text":"Buy £2,526,930 & Sell €2,913,336*","page_number":56,"box":{"x":129,"y":536,"width":182,"height":8}},{"id":"87d74396-5a66-4527-b7a0-f688b63707d7","block_type":"box","text":"16","page_number":56,"box":{"x":388,"y":536,"width":11,"height":7}},{"id":"6e926f55-c805-4d2b-a9aa-eb84051753de","block_type":"box","text":"–","page_number":56,"box":{"x":466,"y":540,"width":6,"height":1}},{"id":"11ff2b18-459e-4ff3-958d-4ba4142dfc56","block_type":"box","text":"Buy £2,413,524 & Sell NOK30,873,332*","page_number":56,"box":{"x":129,"y":546,"width":207,"height":8}},{"id":"615c4e7c-7856-4259-89fd-7672813d3917","block_type":"box","text":"63","page_number":56,"box":{"x":387,"y":546,"width":12,"height":6}},{"id":"354ceb08-5f50-4e37-aeb4-79962fc7620e","block_type":"box","text":"0.02","page_number":56,"box":{"x":450,"y":546,"width":22,"height":6}},{"id":"c3e691fc-62d0-4cef-b326-a07256c3b4bd","block_type":"box","text":"Buy £2,234,271 & Sell SEK28,128,583*","page_number":56,"box":{"x":129,"y":555,"width":205,"height":8}},{"id":"15c97943-0529-4ce7-bc2a-a5c4feed1bc6","block_type":"box","text":"42","page_number":56,"box":{"x":387,"y":555,"width":12,"height":6}},{"id":"db161fe1-168c-4922-820b-87b01c075806","block_type":"box","text":"0.01","page_number":56,"box":{"x":450,"y":555,"width":20,"height":7}},{"id":"fdd42645-33d5-4505-afc8-40ad35b9434c","block_type":"box","text":"Buy JPY453,903,096 & Sell £2,114,762*","page_number":56,"box":{"x":129,"y":565,"width":209,"height":8}},{"id":"d157269f-bb4e-41a8-a25b-96561800c7fb","block_type":"box","text":"(8)","page_number":56,"box":{"x":390,"y":565,"width":13,"height":8}},{"id":"b3fb0260-2fcf-4f02-9ca4-9174628a8ff0","block_type":"box","text":"–","page_number":56,"box":{"x":466,"y":569,"width":6,"height":0}},{"id":"2a5d7136-1f25-45fb-8a94-c781dc8c5319","block_type":"box","text":"Buy SEK13,659,975 & Sell £1,080,874*","page_number":56,"box":{"x":129,"y":574,"width":205,"height":8}},{"id":"9b588619-16ce-42a6-9ad0-ff1f15d81811","block_type":"box","text":"(16)","page_number":56,"box":{"x":383,"y":574,"width":20,"height":8}},{"id":"b6313705-38ad-47aa-929a-a1f94a3a0a1a","block_type":"box","text":"–","page_number":56,"box":{"x":466,"y":578,"width":6,"height":1}},{"id":"aa6240ac-0c00-43b5-991f-9bfc8c742255","block_type":"box","text":"Buy SGD2,437,791 & Sell £1,420,232*","page_number":56,"box":{"x":129,"y":584,"width":201,"height":8}},{"id":"88cbc8ea-6d82-468b-87cc-74ab9a6cbed9","block_type":"box","text":"2","page_number":56,"box":{"x":393,"y":584,"width":6,"height":6}},{"id":"ccba957d-d688-459f-a548-a5052aa28d3b","block_type":"box","text":"–","page_number":56,"box":{"x":466,"y":588,"width":6,"height":0}},{"id":"52c7c4bc-ff7c-4274-b537-283d3f32927a","block_type":"box","text":"Buy $31,367,381 & Sell £23,388,475*","page_number":56,"box":{"x":129,"y":593,"width":195,"height":8}},{"id":"3e050d28-09ed-457d-bea0-addd3eff3084","block_type":"box","text":"245","page_number":56,"box":{"x":380,"y":593,"width":19,"height":7}},{"id":"f41e2276-8fa2-4223-8b65-c870eeb2c4bf","block_type":"box","text":"0.05","page_number":56,"box":{"x":450,"y":593,"width":22,"height":7}},{"id":"bc80580f-740f-4aad-b33a-e011141755ac","block_type":"box","text":"Total Forward Currency Contracts","page_number":56,"box":{"x":57,"y":610,"width":189,"height":7}},{"id":"ca300caf-e04f-4df9-bdbc-68e8d0c8bd25","block_type":"box","text":"359","page_number":56,"box":{"x":380,"y":610,"width":19,"height":6}},{"id":"adceaed5-6728-47f7-9258-00fdf91b5899","block_type":"box","text":"0.08","page_number":56,"box":{"x":450,"y":610,"width":22,"height":6}},{"id":"f5f0346c-a776-487f-aab2-ee4b688f6ac4","block_type":"box","text":"Holding","page_number":56,"box":{"x":58,"y":177,"width":43,"height":8}},{"id":"2489ab3d-4f54-44fe-9b1f-f694ea5fac11","block_type":"box","text":"Investment","page_number":56,"box":{"x":129,"y":177,"width":63,"height":6}},{"id":"73925b86-efc6-42fd-9848-b3f349d5953e","block_type":"box","text":"Mid-market","page_number":56,"box":{"x":337,"y":158,"width":65,"height":6}},{"id":"b995414b-244b-4d66-ba0e-8d1a7c79df77","block_type":"box","text":"value","page_number":56,"box":{"x":371,"y":168,"width":30,"height":6}},{"id":"cacda0f1-db2d-4b4c-8563-f5a2dc4b7d12","block_type":"box","text":"(£’000)","page_number":56,"box":{"x":364,"y":177,"width":37,"height":8}},{"id":"f84ad156-5fec-43d1-90b6-91688ea09896","block_type":"box","text":"Total net","page_number":56,"box":{"x":424,"y":168,"width":49,"height":6}},{"id":"e2e14b05-536b-40a0-87cc-c6fcb7e39c83","block_type":"box","text":"assets (%)","page_number":56,"box":{"x":414,"y":177,"width":59,"height":8}},{"id":"4a1c65d6-9b40-4f9a-acae-7993d31094a9","block_type":"box","text":"Holding","page_number":56,"box":{"x":522,"y":177,"width":43,"height":8}},{"id":"c3d97cd6-c255-4808-b20a-8c700af48db8","block_type":"box","text":"Investment","page_number":56,"box":{"x":593,"y":177,"width":63,"height":6}},{"id":"b1c78071-305c-40a8-b11c-f0a800929520","block_type":"box","text":"Mid-market","page_number":56,"box":{"x":802,"y":158,"width":64,"height":6}},{"id":"39f74773-f8cb-46f7-927e-5260f1b7206e","block_type":"box","text":"value","page_number":56,"box":{"x":835,"y":168,"width":31,"height":6}},{"id":"a1b725f8-ce06-4661-917b-c463b30b081c","block_type":"box","text":"(£’000)","page_number":56,"box":{"x":828,"y":177,"width":38,"height":8}},{"id":"dc928cb3-66ae-4804-9976-4b3a136c5cd2","block_type":"box","text":"Total net","page_number":56,"box":{"x":888,"y":168,"width":49,"height":6}},{"id":"afcc38a7-5203-4a76-994e-bb722de6dcd0","block_type":"box","text":"assets (%)","page_number":56,"box":{"x":879,"y":177,"width":58,"height":8}},{"id":"23b680c4-443d-42c4-9dc1-ee3c520eb163","block_type":"box","text":"Futures – 0.09% (31/12/25 – (0.01)%)","page_number":56,"box":{"x":522,"y":202,"width":201,"height":7}},{"id":"0f86353f-ebee-49be-9a3d-bb429ab7eced","block_type":"box","text":"85","page_number":56,"box":{"x":573,"y":211,"width":12,"height":6}},{"id":"ed7d8b3e-def4-4b2b-b2ff-23602a137cc8","block_type":"box","text":"CME S&P 500 E MINI Index Future","page_number":56,"box":{"x":593,"y":211,"width":183,"height":6}},{"id":"9f5032d8-a49a-4f2c-b55e-f40eb22f7df6","block_type":"box","text":"September 2026","page_number":56,"box":{"x":593,"y":221,"width":86,"height":7}},{"id":"08e21349-36e7-4d3a-b8f4-38f315f9e6f7","block_type":"box","text":"164","page_number":56,"box":{"x":845,"y":221,"width":18,"height":6}},{"id":"12473861-a558-46b6-acad-ea3885fc7a3d","block_type":"box","text":"0.04","page_number":56,"box":{"x":914,"y":221,"width":22,"height":6}},{"id":"8d8cf6e3-edb5-4d48-810b-e863ee9c662b","block_type":"box","text":"(32)","page_number":56,"box":{"x":565,"y":230,"width":20,"height":8}},{"id":"fa1e6cc3-70cf-4d4b-84bf-db60849cd0de","block_type":"box","text":"CME S&P E-Mini Consumer Services","page_number":56,"box":{"x":593,"y":230,"width":194,"height":6}},{"id":"4ae086e6-99e8-4650-ae1f-07cc971fe623","block_type":"box","text":"September 2026","page_number":56,"box":{"x":593,"y":240,"width":86,"height":7}},{"id":"40f861ca-4a03-48ca-bb20-a552ad47e400","block_type":"box","text":"(23)","page_number":56,"box":{"x":848,"y":240,"width":19,"height":7}},{"id":"baec5367-ab2a-4229-9d2f-08bb739de308","block_type":"box","text":"(0.01)","page_number":56,"box":{"x":911,"y":240,"width":29,"height":7}},{"id":"6eef4d8c-54fd-498d-8f86-da04b379a3cb","block_type":"box","text":"(8)","page_number":56,"box":{"x":572,"y":249,"width":13,"height":8}},{"id":"5e2c7db1-7d3e-407c-9231-4a34b372bff6","block_type":"box","text":"CME XAB Materials September 2026","page_number":56,"box":{"x":593,"y":249,"width":193,"height":8}},{"id":"7f6d5567-9722-490e-b694-b4ec9cf1a688","block_type":"box","text":"4","page_number":56,"box":{"x":857,"y":249,"width":6,"height":6}},{"id":"c4c68a21-c5c6-43a9-93f6-012874694708","block_type":"box","text":"–","page_number":56,"box":{"x":930,"y":253,"width":7,"height":0}},{"id":"490b797a-b30d-4eb3-aa99-44cfa2c66420","block_type":"box","text":"(40)","page_number":56,"box":{"x":565,"y":259,"width":20,"height":7}},{"id":"4515a689-11f9-409c-acc5-eb55310a449c","block_type":"box","text":"CME XAE Energy September 2026","page_number":56,"box":{"x":593,"y":259,"width":182,"height":7}},{"id":"93edbca9-716b-4203-9484-78a9602a3685","block_type":"box","text":"73","page_number":56,"box":{"x":851,"y":259,"width":12,"height":6}},{"id":"14b2fd78-93c4-4fe9-93f3-408753441d68","block_type":"box","text":"0.02","page_number":56,"box":{"x":914,"y":259,"width":22,"height":6}},{"id":"c8e892f3-456a-4e0b-9c59-5667a9677964","block_type":"box","text":"8","page_number":56,"box":{"x":579,"y":268,"width":6,"height":6}},{"id":"a51e2da9-03c0-4758-a23f-2959f8f0a8bf","block_type":"box","text":"CME XAF Financial September 2026","page_number":56,"box":{"x":593,"y":268,"width":192,"height":8}},{"id":"334db64a-ccd2-4aed-9b97-6710610cc1b4","block_type":"box","text":"3","page_number":56,"box":{"x":858,"y":268,"width":5,"height":6}},{"id":"4039b9ef-f8a7-4b81-9faf-946c05a66e1c","block_type":"box","text":"–","page_number":56,"box":{"x":930,"y":272,"width":7,"height":0}},{"id":"5f2d6f7b-7031-4836-b29b-a03085ac08d1","block_type":"box","text":"16","page_number":56,"box":{"x":573,"y":278,"width":12,"height":6}},{"id":"132266a8-8de9-4e51-b6b5-53485e3af905","block_type":"box","text":"CME XAK Technology September 2026","page_number":56,"box":{"x":593,"y":278,"width":204,"height":7}},{"id":"595c8e74-2827-4364-896e-c842d018fa29","block_type":"box","text":"(27)","page_number":56,"box":{"x":848,"y":278,"width":19,"height":7}},{"id":"0746ee53-c7a4-483d-8e03-fa109365ca52","block_type":"box","text":"(0.01)","page_number":56,"box":{"x":911,"y":278,"width":29,"height":7}},{"id":"f654c3c3-ea1a-4279-9724-0625661398cf","block_type":"box","text":"10","page_number":56,"box":{"x":573,"y":287,"width":12,"height":6}},{"id":"ea122920-1e2a-4306-9187-b8f06223a31c","block_type":"box","text":"CME XAP Consumer Staples September 2026","page_number":56,"box":{"x":593,"y":287,"width":242,"height":8}},{"id":"5b0a112d-239b-4a3c-a76a-0a6a1fed805e","block_type":"box","text":"(11)","page_number":56,"box":{"x":848,"y":287,"width":19,"height":8}},{"id":"f2a319b7-983e-4720-8c66-cb7d6f347a0b","block_type":"box","text":"–","page_number":56,"box":{"x":930,"y":291,"width":7,"height":0}},{"id":"dc1b0fe3-b8d8-4c96-b3c3-c3cfb45e8c96","block_type":"box","text":"68","page_number":56,"box":{"x":573,"y":297,"width":12,"height":6}},{"id":"773a645e-4e95-4cd1-91d4-60cd06fb1700","block_type":"box","text":"CME XAU Utilities September 2026","page_number":56,"box":{"x":593,"y":297,"width":184,"height":7}},{"id":"333ad3d7-e822-43b4-9d13-91cdd04d3da7","block_type":"box","text":"(103)","page_number":56,"box":{"x":841,"y":297,"width":26,"height":7}},{"id":"b8cc122d-148b-4836-870d-c12cd059fa0b","block_type":"box","text":"(0.02)","page_number":56,"box":{"x":911,"y":297,"width":29,"height":7}},{"id":"27825eed-d14d-4188-9228-946cafa242fa","block_type":"box","text":"25","page_number":56,"box":{"x":572,"y":306,"width":13,"height":6}},{"id":"6bb11c6a-4719-4492-b24f-5560c2d0aba8","block_type":"box","text":"CME XAV Health Care September 2026","page_number":56,"box":{"x":593,"y":306,"width":207,"height":8}},{"id":"186497ff-d735-48e1-bd1c-4867e093ea33","block_type":"box","text":"109","page_number":56,"box":{"x":845,"y":306,"width":18,"height":6}},{"id":"e6bcb148-8a5a-4bb4-a97e-cc4e5c742dec","block_type":"box","text":"0.02","page_number":56,"box":{"x":914,"y":306,"width":22,"height":6}},{"id":"717a4511-0c55-420c-9833-00291b9a1a6a","block_type":"box","text":"(35)","page_number":56,"box":{"x":565,"y":316,"width":20,"height":7}},{"id":"78df7bd5-5d21-4885-a0f2-6ce8b0e83b36","block_type":"box","text":"CME XAY Consumer Discretionary September","page_number":56,"box":{"x":593,"y":316,"width":242,"height":7}},{"id":"3156f6ab-6be6-46a8-acd5-562eec498d4e","block_type":"box","text":"2026","page_number":56,"box":{"x":593,"y":325,"width":25,"height":6}},{"id":"2975d814-42ef-4d52-bf55-d3a43cac4933","block_type":"box","text":"(96)","page_number":56,"box":{"x":848,"y":325,"width":19,"height":8}},{"id":"ea5aef48-850f-457c-af2b-f919bbfb9df3","block_type":"box","text":"(0.02)","page_number":56,"box":{"x":911,"y":325,"width":29,"height":8}},{"id":"5c1de8cd-bbe2-44ba-9703-87990687da98","block_type":"box","text":"95","page_number":56,"box":{"x":573,"y":335,"width":12,"height":6}},{"id":"93010bb9-0fa9-4f61-b954-5601d018aead","block_type":"box","text":"EUX Euro Stoxx 50 Future September 2026","page_number":56,"box":{"x":593,"y":335,"width":228,"height":7}},{"id":"3e795fd7-d8b5-4ba9-b5c4-7aa3383ab134","block_type":"box","text":"88","page_number":56,"box":{"x":851,"y":335,"width":12,"height":6}},{"id":"a9775635-451c-4ba6-a459-a184dba5322e","block_type":"box","text":"0.02","page_number":56,"box":{"x":914,"y":335,"width":22,"height":6}},{"id":"a9c69856-bfd6-4f31-8e38-bd5874243e30","block_type":"box","text":"(46)","page_number":56,"box":{"x":565,"y":344,"width":20,"height":8}},{"id":"acb3616f-d31b-4faf-8dfe-00760bb8397a","block_type":"box","text":"HKG Hang Seng Index Future July 2026","page_number":56,"box":{"x":593,"y":344,"width":209,"height":8}},{"id":"a971f122-1d59-4d88-a661-ff2ff0865076","block_type":"box","text":"109","page_number":56,"box":{"x":845,"y":344,"width":18,"height":6}},{"id":"74677196-205a-40a7-a3ab-fba14c857641","block_type":"box","text":"0.02","page_number":56,"box":{"x":914,"y":344,"width":22,"height":6}},{"id":"0b293d1f-af30-4f86-b398-e472f78de365","block_type":"box","text":"(75)","page_number":56,"box":{"x":565,"y":354,"width":20,"height":7}},{"id":"94441cfc-25f7-41f7-addc-7b54560f35bf","block_type":"box","text":"ICF FTSE 100 Index Future September 2026","page_number":56,"box":{"x":593,"y":354,"width":233,"height":7}},{"id":"177cd4d3-e244-4c7f-9229-69a203cb95ba","block_type":"box","text":"(54)","page_number":56,"box":{"x":848,"y":354,"width":19,"height":7}},{"id":"b5a87310-7876-4f22-8211-c09384a1f7d4","block_type":"box","text":"(0.01)","page_number":56,"box":{"x":911,"y":354,"width":29,"height":7}},{"id":"6ff6a5c2-a308-418b-961e-5e24555bdfe9","block_type":"box","text":"136","page_number":56,"box":{"x":567,"y":363,"width":18,"height":6}},{"id":"e4a4ae6b-9102-41e3-a4e7-65920c057edb","block_type":"box","text":"NYF MINI MSCI Emerging Market Future","page_number":56,"box":{"x":593,"y":363,"width":213,"height":8}},{"id":"5e981b4b-79c2-4422-974a-253f9d6b943a","block_type":"box","text":"September 2026","page_number":56,"box":{"x":593,"y":373,"width":86,"height":7}},{"id":"f2ccbd54-2830-41bd-a433-de4cf0246b41","block_type":"box","text":"(145)","page_number":56,"box":{"x":841,"y":373,"width":26,"height":7}},{"id":"c14911a6-4757-4147-a29d-ea8379dba4b8","block_type":"box","text":"(0.03)","page_number":56,"box":{"x":911,"y":373,"width":29,"height":7}},{"id":"3bf582bc-865f-4134-b51b-de5342c49e7d","block_type":"box","text":"25","page_number":56,"box":{"x":572,"y":382,"width":13,"height":6}},{"id":"858fba15-33f1-40a1-9795-900f6ca86413","block_type":"box","text":"OSE MINI Topix Index Future September","page_number":56,"box":{"x":593,"y":382,"width":213,"height":8}},{"id":"becb2046-a2ec-4654-aa50-6aa8c357072a","block_type":"box","text":"2026","page_number":56,"box":{"x":593,"y":392,"width":25,"height":6}},{"id":"ee3d9a8a-fbc4-4cb3-b6a2-ef586787a685","block_type":"box","text":"44","page_number":56,"box":{"x":851,"y":392,"width":12,"height":6}},{"id":"3ac74d36-b2cb-4bce-b756-291686b40338","block_type":"box","text":"0.01","page_number":56,"box":{"x":914,"y":392,"width":20,"height":6}},{"id":"22a1e68a-42a9-405a-b2b9-e997c2ba6681","block_type":"box","text":"137","page_number":56,"box":{"x":567,"y":401,"width":18,"height":6}},{"id":"59cfa018-5435-4c39-b974-dbd3fe54f1e2","block_type":"box","text":"OSE Nikkei 225 MINI September 2026","page_number":56,"box":{"x":593,"y":401,"width":200,"height":8}},{"id":"a666743e-ced1-4951-b058-e2f30374c451","block_type":"box","text":"129","page_number":56,"box":{"x":845,"y":401,"width":18,"height":6}},{"id":"bacc03e8-b62f-471e-a5f7-9ade3eb4d5b0","block_type":"box","text":"0.03","page_number":56,"box":{"x":914,"y":401,"width":22,"height":6}},{"id":"bb59b4e1-5df9-43eb-adc1-6fcd3894cb53","block_type":"box","text":"(103)","page_number":56,"box":{"x":558,"y":411,"width":27,"height":7}},{"id":"f284bd6c-fbf2-440d-a1d5-b7e3457c70ac","block_type":"box","text":"SFE SPI 200 Index Future September 2026","page_number":56,"box":{"x":593,"y":411,"width":226,"height":7}},{"id":"eb939b79-2cbc-4c21-aa6d-76f7eae51b33","block_type":"box","text":"158","page_number":56,"box":{"x":845,"y":411,"width":18,"height":6}},{"id":"9405b872-bc40-4f71-8e07-bc42b03d8232","block_type":"box","text":"0.03","page_number":56,"box":{"x":914,"y":411,"width":22,"height":6}},{"id":"0f599b27-329f-4039-84bb-ec1ad5d96e11","block_type":"box","text":"Total Futures","page_number":56,"box":{"x":521,"y":427,"width":73,"height":6}},{"id":"27463eed-dc3a-4c72-8ee5-2f33c356f97b","block_type":"box","text":"422","page_number":56,"box":{"x":844,"y":427,"width":19,"height":6}},{"id":"eaece406-8d79-40ae-bf44-fd9316ec2b61","block_type":"box","text":"0.09","page_number":56,"box":{"x":914,"y":427,"width":22,"height":6}},{"id":"e09399b1-4b41-4a21-ac10-0f408a611617","block_type":"box","text":"Total value of investments","page_number":56,"box":{"x":521,"y":469,"width":146,"height":6}},{"id":"80f81a16-d2d1-4f65-b9a5-c4d58eb420d9","block_type":"box","text":"^","page_number":56,"box":{"x":668,"y":469,"width":3,"height":2}},{"id":"64000955-0b52-4e3e-81be-161be9245442","block_type":"box","text":"447,174","page_number":56,"box":{"x":822,"y":469,"width":42,"height":7}},{"id":"c64a6385-186c-4720-a671-6955e6067fb5","block_type":"box","text":"98.16","page_number":56,"box":{"x":908,"y":469,"width":28,"height":6}},{"id":"9bf82341-d6ba-4254-9c93-786d6ea8493d","block_type":"box","text":"Net other assets","page_number":56,"box":{"x":522,"y":485,"width":90,"height":6}},{"id":"00b19ec9-780a-4889-9aab-ee359dd2cd0f","block_type":"box","text":"8,400","page_number":56,"box":{"x":835,"y":485,"width":28,"height":7}},{"id":"dd8c9829-5126-4c5d-a834-5c8afca67631","block_type":"box","text":"1.84","page_number":56,"box":{"x":915,"y":485,"width":21,"height":6}},{"id":"6b0f3bab-6c8c-497f-81af-61017f895762","block_type":"box","text":"Total net assets","page_number":56,"box":{"x":521,"y":501,"width":87,"height":6}},{"id":"727c2119-ef94-47dd-b37d-6c5fa27156dd","block_type":"box","text":"455,574","page_number":56,"box":{"x":821,"y":501,"width":42,"height":8}},{"id":"42db6d96-9af4-40ac-9705-cb95a7569be0","block_type":"box","text":"100.00","page_number":56,"box":{"x":902,"y":501,"width":34,"height":6}},{"id":"620eef3e-e852-4195-b178-55c26424ca05","block_type":"box","text":"†","page_number":56,"box":{"x":521,"y":519,"width":4,"height":4}},{"id":"799ad8a4-c263-4da6-9e4a-8650d180567b","block_type":"box","text":"Related Party","page_number":56,"box":{"x":529,"y":519,"width":72,"height":7}},{"id":"b36d18b1-f134-4062-ada7-54ddce80319f","block_type":"box","text":"* Unlisted","page_number":56,"box":{"x":521,"y":533,"width":51,"height":6}},{"id":"b8f5315b-ec15-4ff4-acc2-92bff051f5cf","block_type":"box","text":"^","page_number":56,"box":{"x":521,"y":547,"width":3,"height":2}},{"id":"08459365-c387-4617-ba7f-d652c59d0b99","block_type":"box","text":"Including investment liabilities","page_number":56,"box":{"x":529,"y":547,"width":157,"height":8}},{"id":"b6b51010-e93b-40c3-8dd0-535ec7697c9f","block_type":"box","text":"All investments, except collective investment schemes and forward currency","page_number":56,"box":{"x":521,"y":561,"width":421,"height":8}},{"id":"4786003d-d713-4fba-bf4f-65545a46de35","block_type":"box","text":"contracts, are listed on recognised stock exchanges and are “approved","page_number":56,"box":{"x":521,"y":572,"width":420,"height":7}},{"id":"da85ff95-afa7-4eb0-9a5f-64aec097e28c","block_type":"box","text":"securities” within the meaning of the FCA rules unless otherwise stated.","page_number":56,"box":{"x":521,"y":582,"width":381,"height":8}},{"id":"b8597300-c27d-4e12-9815-2db7c5c90fc2","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund | Royal London Multi-Asset Funds ICVC","page_number":56,"box":{"x":469,"y":33,"width":444,"height":8}},{"id":"1a95f3f8-d8ee-42da-8f63-dce06ae5cf98","block_type":"box","text":"56","page_number":56,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"2218200c-1cd7-472a-a091-74b25710c7ff","block_type":"box","text":"Summary of Material Portfolio Changes","page_number":57,"box":{"x":57,"y":94,"width":470,"height":14}},{"id":"cd0b4f2e-b586-4a6f-9e99-88e743a04675","block_type":"box","text":"For the six month period ended 30","page_number":57,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"385ed703-86fd-4e27-b724-dd5a3205792f","block_type":"box","text":"June 2026","page_number":57,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"d700123a-033a-4968-9d41-8045ed4e6649","block_type":"box","text":"Significant Purchases","page_number":57,"box":{"x":57,"y":151,"width":203,"height":11}},{"id":"498610a0-ba33-41bd-9942-7c11f4b538c2","block_type":"box","text":"Cost","page_number":57,"box":{"x":447,"y":177,"width":26,"height":6}},{"id":"44dd6faa-af75-4806-98ba-798bc6f36555","block_type":"box","text":"£’000","page_number":57,"box":{"x":443,"y":186,"width":30,"height":6}},{"id":"c95e7f79-c217-4c0f-b697-d618900a7f7d","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":57,"box":{"x":58,"y":205,"width":214,"height":7}},{"id":"690543d6-d022-43dd-999d-15c65ed768e8","block_type":"box","text":"22,452","page_number":57,"box":{"x":437,"y":205,"width":36,"height":7}},{"id":"49417477-4918-4b9c-8e9f-a867c2ab06a2","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":57,"box":{"x":58,"y":222,"width":295,"height":8}},{"id":"4a6d586d-d7c5-49a7-a3e3-191db9a1ce32","block_type":"box","text":"17,235","page_number":57,"box":{"x":439,"y":222,"width":34,"height":7}},{"id":"efbbe763-353c-4bb9-b340-c609f6a3f33b","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":57,"box":{"x":58,"y":240,"width":249,"height":7}},{"id":"36589320-e2f8-486d-917a-4b7786d6f2f8","block_type":"box","text":"17,076","page_number":57,"box":{"x":440,"y":240,"width":33,"height":7}},{"id":"9450f7d8-5e55-4462-81d3-77734070464a","block_type":"box","text":"Royal London Global Equity Enhanced Fund R Acc","page_number":57,"box":{"x":58,"y":257,"width":270,"height":8}},{"id":"74130816-4a24-410f-986f-ecff75bd1af6","block_type":"box","text":"6,266","page_number":57,"box":{"x":443,"y":257,"width":30,"height":7}},{"id":"772f2d90-a030-447b-81b2-c78fc97e1a45","block_type":"box","text":"Royal London Global Equity Diversified Fund R Acc","page_number":57,"box":{"x":58,"y":275,"width":273,"height":7}},{"id":"516ed9dc-4601-4cec-be71-672ace6e4f94","block_type":"box","text":"5,494","page_number":57,"box":{"x":443,"y":275,"width":30,"height":7}},{"id":"f1eccbc5-c220-44eb-b11e-525b304dcd98","block_type":"box","text":"Royal London Europe ex UK Equity Tilt Fund R Acc","page_number":57,"box":{"x":58,"y":292,"width":272,"height":8}},{"id":"73558b5e-196b-4eab-9124-a24dd18f79a6","block_type":"box","text":"1,197","page_number":57,"box":{"x":447,"y":292,"width":26,"height":7}},{"id":"6e318bd6-7a2c-4a2f-8ec5-3d07b594e67b","block_type":"box","text":"Royal London Japan Equity Tilt Fund R Acc","page_number":57,"box":{"x":58,"y":310,"width":230,"height":7}},{"id":"2aa6c4c6-e220-42a9-9e1c-5ef600518ad9","block_type":"box","text":"1,097","page_number":57,"box":{"x":445,"y":310,"width":28,"height":7}},{"id":"6cf1981b-0601-4d93-948d-9ed7f817e1dc","block_type":"box","text":"Royal London Global Equity Tilt R Acc","page_number":57,"box":{"x":58,"y":327,"width":202,"height":8}},{"id":"518e2976-873a-46c8-886e-075c4dda4276","block_type":"box","text":"1,056","page_number":57,"box":{"x":445,"y":327,"width":28,"height":7}},{"id":"56339194-bb2e-4160-be97-69dbe28b6e5e","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt Fund R Acc","page_number":57,"box":{"x":58,"y":345,"width":275,"height":7}},{"id":"2351acec-9cf9-4752-b45d-f11f734a3138","block_type":"box","text":"634","page_number":57,"box":{"x":453,"y":345,"width":20,"height":6}},{"id":"aaff9b06-596a-4791-b4dd-deb0d03d4130","block_type":"box","text":"iShares MSCI Canada UCITS ETF","page_number":57,"box":{"x":57,"y":362,"width":184,"height":6}},{"id":"f3271dbf-614a-446a-8e2b-9ebcd964c2dd","block_type":"box","text":"290","page_number":57,"box":{"x":453,"y":362,"width":20,"height":6}},{"id":"4ba5e9b9-6bd5-42cb-8085-d4b02b85f7ef","block_type":"box","text":"Subtotal","page_number":57,"box":{"x":57,"y":380,"width":48,"height":6}},{"id":"9662e985-d838-4670-8a80-e62d9f65ee4c","block_type":"box","text":"72,797","page_number":57,"box":{"x":437,"y":380,"width":36,"height":7}},{"id":"2d0248fe-d6aa-4659-b6ce-0bcc03879afd","block_type":"box","text":"Total cost of purchases, including the above, for the period","page_number":57,"box":{"x":57,"y":397,"width":339,"height":8}},{"id":"4518d3ef-91b4-43be-ab23-32e22b6b486c","block_type":"box","text":"72,797","page_number":57,"box":{"x":437,"y":397,"width":36,"height":8}},{"id":"0ce6d1ba-b548-4ac4-a3c9-404464204d59","block_type":"box","text":"Significant Sales","page_number":57,"box":{"x":522,"y":151,"width":156,"height":11}},{"id":"a67a99e0-322a-4283-9102-e8e7754b83b8","block_type":"box","text":"Proceeds","page_number":57,"box":{"x":884,"y":177,"width":53,"height":6}},{"id":"97d54369-b8a6-4d9a-bf84-8117284badb5","block_type":"box","text":"£’000","page_number":57,"box":{"x":907,"y":186,"width":30,"height":6}},{"id":"6f7329ce-b02f-49b2-924c-bfba0b39e23f","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":57,"box":{"x":522,"y":205,"width":250,"height":7}},{"id":"b78a01d7-5729-4f56-9f5c-cd4b5fb8dea6","block_type":"box","text":"22,074","page_number":57,"box":{"x":902,"y":205,"width":35,"height":7}},{"id":"9acafb52-1ae4-4ef4-953e-8666180d16df","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":57,"box":{"x":522,"y":222,"width":295,"height":8}},{"id":"65be7b78-9ced-486c-8f7e-c609b76be16d","block_type":"box","text":"11,099","page_number":57,"box":{"x":903,"y":222,"width":34,"height":7}},{"id":"7b37e368-eca0-409a-828f-971fef024d7d","block_type":"box","text":"Royal London Short-Term Money Market Fund R Acc","page_number":57,"box":{"x":522,"y":240,"width":281,"height":7}},{"id":"42918f72-da73-425c-b252-4c591f96ab58","block_type":"box","text":"7,310","page_number":57,"box":{"x":910,"y":240,"width":27,"height":7}},{"id":"1c5de54b-2931-429c-a2e4-5e2edfcb383c","block_type":"box","text":"Royal London Global Equity Enhanced Fund R Acc","page_number":57,"box":{"x":522,"y":257,"width":271,"height":8}},{"id":"d6f3a37a-0925-4e2e-a852-41b62566ee22","block_type":"box","text":"3,395","page_number":57,"box":{"x":908,"y":257,"width":29,"height":7}},{"id":"5332992e-4760-4c9b-8301-312873258c86","block_type":"box","text":"Royal London Global Equity Diversified Fund R Acc","page_number":57,"box":{"x":522,"y":275,"width":274,"height":7}},{"id":"239b6522-8895-4570-ac21-bdf64b02da7e","block_type":"box","text":"3,353","page_number":57,"box":{"x":908,"y":275,"width":29,"height":7}},{"id":"2cb18600-67ce-474c-965d-7e1ea48aafee","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":57,"box":{"x":522,"y":292,"width":214,"height":8}},{"id":"bdad7307-5b02-4188-a3bf-5641c534da34","block_type":"box","text":"2,588","page_number":57,"box":{"x":907,"y":292,"width":30,"height":7}},{"id":"ec9b6232-4095-43aa-9fe7-131d93d688f9","block_type":"box","text":"Royal London Japan Equity Tilt Fund R Acc","page_number":57,"box":{"x":522,"y":310,"width":230,"height":7}},{"id":"d365ba75-b9be-4904-a21a-92ea7b504612","block_type":"box","text":"1,063","page_number":57,"box":{"x":909,"y":310,"width":28,"height":7}},{"id":"97149d27-663f-4144-adbe-ae8870b925c8","block_type":"box","text":"Royal London Europe ex UK Equity Tilt Fund R Acc","page_number":57,"box":{"x":522,"y":327,"width":272,"height":8}},{"id":"9aada74a-2395-46a8-9845-699b41d5f3e4","block_type":"box","text":"763","page_number":57,"box":{"x":918,"y":327,"width":19,"height":6}},{"id":"5efd8a19-60aa-48d0-afb1-2f0fb8aa6149","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt Fund R Acc","page_number":57,"box":{"x":522,"y":345,"width":275,"height":7}},{"id":"38ac0795-d35f-4989-a638-b3a25664bd16","block_type":"box","text":"368","page_number":57,"box":{"x":918,"y":345,"width":19,"height":6}},{"id":"c6baea6d-913d-408f-b1e6-b0731d0c6c0c","block_type":"box","text":"Royal London Global Equity Tilt R Acc","page_number":57,"box":{"x":522,"y":362,"width":202,"height":8}},{"id":"9d8b4993-c160-42b5-99ad-0e1ca783c16a","block_type":"box","text":"200","page_number":57,"box":{"x":918,"y":362,"width":19,"height":6}},{"id":"e9edf8bb-f8ce-4d73-bc9e-a0eb0907ae6c","block_type":"box","text":"Subtotal","page_number":57,"box":{"x":521,"y":380,"width":47,"height":6}},{"id":"e3bc1263-cdbd-4b9f-a1b7-130b266b1ddb","block_type":"box","text":"52,213","page_number":57,"box":{"x":901,"y":380,"width":36,"height":7}},{"id":"8512bb8b-0b81-46b0-83cd-ceef2ad63f36","block_type":"box","text":"Total proceeds from sales, including the above, for the period","page_number":57,"box":{"x":521,"y":397,"width":347,"height":8}},{"id":"862bdf0c-e844-4b02-b42d-eb0051cf30cb","block_type":"box","text":"52,213","page_number":57,"box":{"x":901,"y":397,"width":36,"height":8}},{"id":"571d642b-19f7-477b-a487-f9c7c9f81960","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund | Royal London Multi-Asset Funds ICVC","page_number":57,"box":{"x":469,"y":33,"width":444,"height":8}},{"id":"4fff81c0-29e5-4bcb-b816-766adeead906","block_type":"box","text":"57","page_number":57,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"b96700b9-41d8-4e0b-b12e-fbd30ff845c2","block_type":"box","text":"Financial Statements","page_number":58,"box":{"x":58,"y":94,"width":253,"height":11}},{"id":"03b97097-ff95-45eb-b13f-ae337b4bc082","block_type":"box","text":"Statement of Total Return","page_number":58,"box":{"x":57,"y":151,"width":241,"height":9}},{"id":"7af139c1-5e36-492b-84ea-89a2b168b211","block_type":"box","text":"For the six month period ended 30","page_number":58,"box":{"x":58,"y":169,"width":231,"height":10}},{"id":"6b3f690e-6c89-460d-bd28-9b3e2ccfbb93","block_type":"box","text":"June 2026","page_number":58,"box":{"x":294,"y":169,"width":70,"height":8}},{"id":"065ad1d0-5de2-4a27-8c7b-5d343d489a37","block_type":"box","text":"30 Jun 2026","page_number":58,"box":{"x":264,"y":198,"width":66,"height":6}},{"id":"2b88920d-6627-4f0d-aa3b-b020dfe841e4","block_type":"box","text":"30 Jun 2025","page_number":58,"box":{"x":407,"y":198,"width":66,"height":6}},{"id":"fc8f0985-ed3d-448a-970c-f1d13f152f59","block_type":"box","text":"£’000","page_number":58,"box":{"x":229,"y":207,"width":29,"height":6}},{"id":"6de3002e-fed6-444b-bf1a-e25f029b11ff","block_type":"box","text":"£’000","page_number":58,"box":{"x":300,"y":207,"width":30,"height":6}},{"id":"5969519c-e599-4bb2-8b57-45076fee3bcd","block_type":"box","text":"£’000","page_number":58,"box":{"x":371,"y":207,"width":30,"height":6}},{"id":"59460935-c9c6-4019-b093-5e92e85c84f2","block_type":"box","text":"£’000","page_number":58,"box":{"x":443,"y":207,"width":30,"height":6}},{"id":"89b1cf26-024f-4ee2-8655-26bc0bb4f2b7","block_type":"box","text":"Income","page_number":58,"box":{"x":58,"y":226,"width":38,"height":6}},{"id":"70f7768b-2c35-482b-bc43-39cc69c6160b","block_type":"box","text":"Net capital gains","page_number":58,"box":{"x":69,"y":243,"width":88,"height":8}},{"id":"fa5e80bb-1b92-4d15-9647-d3dc413e2942","block_type":"box","text":"47,638","page_number":58,"box":{"x":295,"y":243,"width":35,"height":8}},{"id":"1312454b-711e-468b-8130-64bd9942391b","block_type":"box","text":"2,086","page_number":58,"box":{"x":443,"y":243,"width":30,"height":8}},{"id":"f10b3a78-2f3d-41b1-8cae-e4b69543a3a6","block_type":"box","text":"Revenue","page_number":58,"box":{"x":69,"y":261,"width":47,"height":6}},{"id":"c6e448a7-342f-4ea1-8292-e29b5fdb3eab","block_type":"box","text":"2,315","page_number":58,"box":{"x":230,"y":261,"width":29,"height":7}},{"id":"aeb3c13b-c844-4d00-a5a8-d2ba05a328bc","block_type":"box","text":"1,835","page_number":58,"box":{"x":373,"y":261,"width":28,"height":7}},{"id":"cd10e817-90c3-4257-80f9-17ebacda93d2","block_type":"box","text":"Expenses","page_number":58,"box":{"x":58,"y":279,"width":51,"height":7}},{"id":"79716ad2-d430-4610-ae1e-1b1ab2d67397","block_type":"box","text":"(445)","page_number":58,"box":{"x":236,"y":279,"width":27,"height":8}},{"id":"dcef0619-df94-4b6f-9c72-506fb833afb2","block_type":"box","text":"(340)","page_number":58,"box":{"x":379,"y":279,"width":26,"height":8}},{"id":"8d443485-251b-4afa-85f0-90fa26f7e27c","block_type":"box","text":"Interest payable and","page_number":58,"box":{"x":58,"y":296,"width":107,"height":8}},{"id":"8d098695-1b75-4ea1-b990-3dfd3ec6cc54","block_type":"box","text":"similar expenses","page_number":58,"box":{"x":57,"y":306,"width":89,"height":7}},{"id":"c562091a-c55c-4c45-b148-baa12608919b","block_type":"box","text":"(1)","page_number":58,"box":{"x":250,"y":296,"width":13,"height":8}},{"id":"6e7a861f-e673-493f-a0cf-14481b2596e0","block_type":"box","text":"–","page_number":58,"box":{"x":395,"y":300,"width":7,"height":0}},{"id":"b4d0b060-9f5b-45ab-87c8-b90a0b1fc0fc","block_type":"box","text":"Net revenue before","page_number":58,"box":{"x":58,"y":323,"width":101,"height":6}},{"id":"6dc0484b-eb9a-47af-b26d-7247319c0de9","block_type":"box","text":"taxation","page_number":58,"box":{"x":57,"y":333,"width":42,"height":6}},{"id":"85d4f882-1bbd-493e-b862-66f97c18f5f5","block_type":"box","text":"1,869","page_number":58,"box":{"x":230,"y":323,"width":29,"height":8}},{"id":"d0553084-9399-4537-beed-d02e98f474e5","block_type":"box","text":"1,495","page_number":58,"box":{"x":373,"y":323,"width":28,"height":8}},{"id":"1fc2ab05-6ca0-4344-a804-f1b81716308e","block_type":"box","text":"Taxation","page_number":58,"box":{"x":57,"y":350,"width":44,"height":6}},{"id":"b42665f0-4dda-4a4e-9d6b-2878610b06d3","block_type":"box","text":"(97)","page_number":58,"box":{"x":243,"y":350,"width":20,"height":8}},{"id":"582aa169-2706-471c-8eea-92c5de48f67e","block_type":"box","text":"(103)","page_number":58,"box":{"x":380,"y":350,"width":25,"height":8}},{"id":"1d5df62a-0ff6-45f6-aa2d-f309d0582a27","block_type":"box","text":"Net revenue after","page_number":58,"box":{"x":58,"y":368,"width":92,"height":6}},{"id":"a7344131-bbd1-4f3e-9659-67e14acf0f54","block_type":"box","text":"taxation","page_number":58,"box":{"x":57,"y":377,"width":42,"height":6}},{"id":"18105ca7-a233-484d-83ab-018cf9690e10","block_type":"box","text":"1,772","page_number":58,"box":{"x":302,"y":368,"width":28,"height":7}},{"id":"f1c1562d-3d98-4a41-be79-5d16d050665f","block_type":"box","text":"1,392","page_number":58,"box":{"x":445,"y":368,"width":28,"height":7}},{"id":"59d01077-faa7-44c9-aab6-dcf6cfde2d0a","block_type":"box","text":"Total return before","page_number":58,"box":{"x":57,"y":395,"width":98,"height":6}},{"id":"082dea7f-eecf-4cad-9ec9-567dc591459c","block_type":"box","text":"distributions","page_number":58,"box":{"x":57,"y":404,"width":64,"height":6}},{"id":"6cdb049d-c13c-4ef3-83f8-6fd9ba4afc9f","block_type":"box","text":"49,410","page_number":58,"box":{"x":295,"y":395,"width":35,"height":7}},{"id":"adf08362-dc73-4160-a98e-3a6a30a6a1d6","block_type":"box","text":"3,478","page_number":58,"box":{"x":444,"y":395,"width":29,"height":7}},{"id":"66988ae3-3b32-4f0a-99f3-6dec2bf23ca5","block_type":"box","text":"Distributions","page_number":58,"box":{"x":58,"y":422,"width":65,"height":6}},{"id":"fd0b64a1-8832-422e-a9a6-bc4be6e2afd4","block_type":"box","text":"(1,774)","page_number":58,"box":{"x":299,"y":422,"width":35,"height":8}},{"id":"90044b87-dd97-46dc-a835-fa01fcdc0975","block_type":"box","text":"(1,383)","page_number":58,"box":{"x":441,"y":422,"width":36,"height":8}},{"id":"d6c13854-b85c-42c9-88ad-db974ac09f4d","block_type":"box","text":"Change in net assets","page_number":58,"box":{"x":57,"y":439,"width":120,"height":8}},{"id":"6d7ca8e0-31fe-41e8-aef9-d726aaef608f","block_type":"box","text":"attributable to","page_number":58,"box":{"x":57,"y":449,"width":81,"height":6}},{"id":"8a37e0ea-5dec-483b-94b6-431bd7f2eced","block_type":"box","text":"shareholders from","page_number":58,"box":{"x":57,"y":458,"width":106,"height":6}},{"id":"55f44a92-1215-44f5-8829-761c4dd79810","block_type":"box","text":"investment activities","page_number":58,"box":{"x":57,"y":468,"width":119,"height":6}},{"id":"f9042ac8-0945-4daf-baa7-0c25e4e6fad9","block_type":"box","text":"47,636","page_number":58,"box":{"x":295,"y":439,"width":35,"height":8}},{"id":"58bd2783-43a1-4f34-8eee-fb418839ba09","block_type":"box","text":"2,095","page_number":58,"box":{"x":443,"y":439,"width":30,"height":8}},{"id":"113e4ac5-77cf-4973-8c30-16a1cc0776d0","block_type":"box","text":"Statement of Change in Net Assets","page_number":58,"box":{"x":57,"y":513,"width":332,"height":11}},{"id":"8b1830e9-bb87-4cad-9066-d1780b1c8bfe","block_type":"box","text":"Attributable to Shareholders","page_number":58,"box":{"x":57,"y":527,"width":265,"height":9}},{"id":"abf461f3-c59a-4c15-bf63-1cde6ffadb56","block_type":"box","text":"For the six month period ended 30","page_number":58,"box":{"x":58,"y":546,"width":231,"height":10}},{"id":"ce9fa0ad-2ca3-4a3e-b5bc-70f43790cfe1","block_type":"box","text":"June 2026","page_number":58,"box":{"x":294,"y":546,"width":70,"height":8}},{"id":"83d2514a-65d2-4dff-931d-9426a3b125a4","block_type":"box","text":"30 Jun 2026","page_number":58,"box":{"x":264,"y":574,"width":66,"height":6}},{"id":"7feab36c-5412-496f-8cb4-97939bf7153a","block_type":"box","text":"30 Jun 2025","page_number":58,"box":{"x":407,"y":574,"width":66,"height":6}},{"id":"fc9d8f51-90d1-4192-ac93-fd6818bf0dc8","block_type":"box","text":"£’000","page_number":58,"box":{"x":229,"y":584,"width":29,"height":6}},{"id":"e6922d14-d46f-46cf-83e2-1789d5c89055","block_type":"box","text":"£’000","page_number":58,"box":{"x":300,"y":584,"width":30,"height":6}},{"id":"a5b48875-fc77-4104-886f-a2a095701930","block_type":"box","text":"£’000","page_number":58,"box":{"x":371,"y":584,"width":30,"height":6}},{"id":"cb7e2949-2204-4897-a545-c5467728ab33","block_type":"box","text":"£’000","page_number":58,"box":{"x":443,"y":584,"width":30,"height":6}},{"id":"bf153f1e-de27-4020-bf72-685dca5f8450","block_type":"box","text":"Opening net assets","page_number":58,"box":{"x":57,"y":602,"width":111,"height":8}},{"id":"a5e7188b-1e48-45ed-a8c2-09bb16c6aac1","block_type":"box","text":"attributable to","page_number":58,"box":{"x":57,"y":612,"width":81,"height":6}},{"id":"e8341443-adf2-476c-a88d-1b7bfb8df4e1","block_type":"box","text":"shareholders","page_number":58,"box":{"x":57,"y":621,"width":76,"height":6}},{"id":"34fb822d-bc3b-4f1b-9e85-022ec4d5558a","block_type":"box","text":"395,301","page_number":58,"box":{"x":287,"y":602,"width":42,"height":7}},{"id":"5ec9e29c-bd0f-41e3-aeeb-88fdb31fda02","block_type":"box","text":"315,598","page_number":58,"box":{"x":430,"y":602,"width":43,"height":7}},{"id":"8ebb3424-51a5-419c-a68d-7fa76ea57e86","block_type":"box","text":"Issue of shares","page_number":58,"box":{"x":58,"y":639,"width":80,"height":6}},{"id":"1d3427a0-b9ff-46c7-b4d0-343f4a4fc813","block_type":"box","text":"32,306","page_number":58,"box":{"x":222,"y":639,"width":36,"height":7}},{"id":"41f284d0-94ba-4632-8423-73b3029fafc1","block_type":"box","text":"38,730","page_number":58,"box":{"x":366,"y":639,"width":35,"height":7}},{"id":"38d1b9df-adbf-4d4b-9b2e-1be7a2a6aa4d","block_type":"box","text":"Cancellation of shares","page_number":58,"box":{"x":57,"y":656,"width":119,"height":6}},{"id":"668de563-0f59-431d-9290-7acf6f54d865","block_type":"box","text":"(21,471)","page_number":58,"box":{"x":221,"y":656,"width":42,"height":8}},{"id":"2d60a6f2-7ffe-4f12-94a1-eaaf5899a415","block_type":"box","text":"(17,028)","page_number":58,"box":{"x":364,"y":656,"width":41,"height":8}},{"id":"605b374e-095c-496a-aff5-5916a0851a33","block_type":"box","text":"10,835","page_number":58,"box":{"x":295,"y":674,"width":35,"height":7}},{"id":"e7d2d2d2-30c2-4c2c-876d-f31f7b740455","block_type":"box","text":"21,702","page_number":58,"box":{"x":438,"y":674,"width":35,"height":7}},{"id":"9051ace2-ad29-4cce-ba51-a542874404f6","block_type":"box","text":"Change in net","page_number":58,"box":{"x":57,"y":691,"width":74,"height":8}},{"id":"055109df-9709-4753-a88a-4d8f999953e5","block_type":"box","text":"assets attributable","page_number":58,"box":{"x":57,"y":701,"width":98,"height":6}},{"id":"639fbcc5-fab5-445d-b8b3-c82a75abcc18","block_type":"box","text":"to shareholders from","page_number":58,"box":{"x":57,"y":710,"width":110,"height":6}},{"id":"7b060953-b150-4393-9931-2af747550b29","block_type":"box","text":"investment activities","page_number":58,"box":{"x":57,"y":720,"width":108,"height":6}},{"id":"1a703898-81aa-4aee-aaff-821d65eac232","block_type":"box","text":"47,636","page_number":58,"box":{"x":295,"y":691,"width":35,"height":7}},{"id":"da6040ed-7315-4a19-8b35-0d5754ff5b92","block_type":"box","text":"2,095","page_number":58,"box":{"x":443,"y":691,"width":30,"height":7}},{"id":"017f804f-1311-41c6-b08c-d1cb502b92ec","block_type":"box","text":"Retained distributions on","page_number":58,"box":{"x":58,"y":737,"width":131,"height":6}},{"id":"9a4315f7-1ea8-4d35-bb3b-4474a4c6a508","block_type":"box","text":"accumulation shares","page_number":58,"box":{"x":57,"y":747,"width":110,"height":6}},{"id":"1b109afc-b6a6-4abe-9710-abf9bc411427","block_type":"box","text":"1,802","page_number":58,"box":{"x":302,"y":737,"width":28,"height":7}},{"id":"40c8c919-73f3-4500-aad3-decc541af19f","block_type":"box","text":"1,482","page_number":58,"box":{"x":445,"y":737,"width":28,"height":7}},{"id":"706aecfd-0379-425a-be1f-fba222343163","block_type":"box","text":"Closing net assets","page_number":58,"box":{"x":57,"y":764,"width":106,"height":8}},{"id":"3f1203f4-9042-40e1-928f-c8cdf04c0cf2","block_type":"box","text":"attributable to","page_number":58,"box":{"x":57,"y":774,"width":81,"height":6}},{"id":"7761eb6e-d2e3-409b-840b-078178f93925","block_type":"box","text":"shareholders","page_number":58,"box":{"x":57,"y":783,"width":76,"height":6}},{"id":"5cce1ccf-5263-4f22-bdeb-c518d7e01628","block_type":"box","text":"455,574","page_number":58,"box":{"x":287,"y":764,"width":43,"height":7}},{"id":"5db5e024-8bbc-4119-8577-0596d2c1e3f0","block_type":"box","text":"340,877","page_number":58,"box":{"x":430,"y":764,"width":43,"height":7}},{"id":"f890801d-414b-4942-abb2-dabacf497abd","block_type":"box","text":"Balance Sheet","page_number":58,"box":{"x":522,"y":151,"width":134,"height":9}},{"id":"fd8d25cc-aff5-4356-8f0d-5e0fa9365ea0","block_type":"box","text":"As at 30","page_number":58,"box":{"x":521,"y":169,"width":55,"height":8}},{"id":"5e070522-1cbd-47c0-a86f-aa02d2de8e6b","block_type":"box","text":"June 2026","page_number":58,"box":{"x":582,"y":169,"width":70,"height":8}},{"id":"03c6d8c5-f6ad-42a1-bc9f-e8620d46cb3e","block_type":"box","text":"30 Jun 2026","page_number":58,"box":{"x":728,"y":198,"width":66,"height":6}},{"id":"2596dbd0-fd2a-4a38-9f73-61c8fa589eef","block_type":"box","text":"31 Dec 2025","page_number":58,"box":{"x":871,"y":198,"width":66,"height":6}},{"id":"724090b0-5892-4de9-a02a-7d21ae7943d6","block_type":"box","text":"£’000","page_number":58,"box":{"x":764,"y":207,"width":30,"height":6}},{"id":"d0084882-0eda-4ce6-83e4-70d15b7cf2fe","block_type":"box","text":"£’000","page_number":58,"box":{"x":907,"y":207,"width":30,"height":6}},{"id":"d6bfe7a2-4691-423d-8ec0-c751cf4f61cf","block_type":"box","text":"Assets","page_number":58,"box":{"x":521,"y":226,"width":39,"height":6}},{"id":"b1f62fa5-d894-4a3d-b323-42c058a8427e","block_type":"box","text":"Investments","page_number":58,"box":{"x":522,"y":243,"width":63,"height":6}},{"id":"e8b63d8c-8b2a-478f-b139-a209dceefa8a","block_type":"box","text":"447,688","page_number":58,"box":{"x":752,"y":243,"width":42,"height":7}},{"id":"a0d726e6-2b6b-4e3c-b403-0dd246a51493","block_type":"box","text":"388,843","page_number":58,"box":{"x":894,"y":243,"width":43,"height":7}},{"id":"a2bd687d-fae2-496a-9540-8f043c196dcf","block_type":"box","text":"Amounts receivable","page_number":58,"box":{"x":521,"y":261,"width":106,"height":6}},{"id":"e3d02ba4-251a-47c1-9edc-a6512f0c5241","block_type":"box","text":"1,100","page_number":58,"box":{"x":767,"y":261,"width":27,"height":7}},{"id":"6d845947-59a8-4df9-b114-1fbdc363ec60","block_type":"box","text":"719","page_number":58,"box":{"x":919,"y":261,"width":18,"height":6}},{"id":"2776a353-80e0-47fd-b099-aaa09d857632","block_type":"box","text":"Cash and cash","page_number":58,"box":{"x":522,"y":278,"width":78,"height":6}},{"id":"2940522d-7f92-44dd-b83b-425e84fac8af","block_type":"box","text":"equivalents","page_number":58,"box":{"x":521,"y":288,"width":61,"height":7}},{"id":"8bd46139-e7fd-46f2-8ede-835b41f30f9a","block_type":"box","text":"14,780","page_number":58,"box":{"x":760,"y":278,"width":34,"height":7}},{"id":"1c5d3bd2-26f5-40f8-af19-1d352adab29f","block_type":"box","text":"10,554","page_number":58,"box":{"x":902,"y":278,"width":35,"height":7}},{"id":"4a91ee70-71e1-488b-b2d1-6bbcbe7ca913","block_type":"box","text":"Total assets","page_number":58,"box":{"x":521,"y":305,"width":64,"height":6}},{"id":"afffdbfa-9d58-45c8-a8a9-327864d7831b","block_type":"box","text":"463,568","page_number":58,"box":{"x":751,"y":305,"width":43,"height":7}},{"id":"d1ab1cd8-8edc-4cac-b6d5-290850e7aef7","block_type":"box","text":"400,116","page_number":58,"box":{"x":896,"y":305,"width":41,"height":7}},{"id":"98bfc7f8-0d7c-4557-91a2-56054c9193ca","block_type":"box","text":"Liabilities","page_number":58,"box":{"x":522,"y":323,"width":55,"height":6}},{"id":"0ae00075-9b54-43bb-aa24-09187b2ec8d0","block_type":"box","text":"Investments","page_number":58,"box":{"x":522,"y":340,"width":63,"height":6}},{"id":"0ef8d831-1dc9-4573-b02a-0df538bb4add","block_type":"box","text":"514","page_number":58,"box":{"x":776,"y":340,"width":18,"height":6}},{"id":"3dede333-dbb5-4004-82fc-60fb4961d44e","block_type":"box","text":"879","page_number":58,"box":{"x":918,"y":340,"width":19,"height":6}},{"id":"006ded8b-b748-4c36-a288-6747a34ac0e6","block_type":"box","text":"Bank overdrafts","page_number":58,"box":{"x":522,"y":358,"width":83,"height":6}},{"id":"4cea1d96-dd57-42d1-98a1-86284021d468","block_type":"box","text":"6,272","page_number":58,"box":{"x":765,"y":358,"width":29,"height":7}},{"id":"758f1bcf-6cc9-4643-a7fb-3a96f2c561c3","block_type":"box","text":"3,172","page_number":58,"box":{"x":910,"y":358,"width":27,"height":7}},{"id":"9975afda-627f-4d90-9f2a-3700138c5f35","block_type":"box","text":"Distribution payable","page_number":58,"box":{"x":522,"y":375,"width":105,"height":8}},{"id":"5f164b1a-1f82-45e5-8bff-61bbd9b013da","block_type":"box","text":"10","page_number":58,"box":{"x":783,"y":375,"width":11,"height":6}},{"id":"ba3452b0-8294-4180-a843-eaaf965d526d","block_type":"box","text":"20","page_number":58,"box":{"x":925,"y":375,"width":12,"height":6}},{"id":"42c4027b-45b5-4eb9-87b3-9715a77921d0","block_type":"box","text":"Other amounts payable","page_number":58,"box":{"x":521,"y":393,"width":124,"height":7}},{"id":"a0ae4eef-4b6b-463f-a3ac-c3980c7e977e","block_type":"box","text":"1,198","page_number":58,"box":{"x":768,"y":393,"width":26,"height":7}},{"id":"95b1468c-9e20-4a8e-84c6-982ad7292702","block_type":"box","text":"744","page_number":58,"box":{"x":919,"y":393,"width":18,"height":6}},{"id":"2eb470cc-2137-4670-b825-6da93fe76c2d","block_type":"box","text":"Total liabilities","page_number":58,"box":{"x":521,"y":410,"width":75,"height":6}},{"id":"7e9fb85e-7a3c-413e-804a-5006cfe5b5ba","block_type":"box","text":"7,994","page_number":58,"box":{"x":766,"y":410,"width":28,"height":7}},{"id":"1585313c-bf16-4f4b-a068-f718a455fddc","block_type":"box","text":"4,815","page_number":58,"box":{"x":908,"y":410,"width":29,"height":7}},{"id":"4b8d5b07-bbe1-4f3d-8945-98d3dc6924c6","block_type":"box","text":"Net assets","page_number":58,"box":{"x":522,"y":428,"width":59,"height":6}},{"id":"21461a67-1e89-4fd6-a012-392f54d560b1","block_type":"box","text":"attributable to","page_number":58,"box":{"x":521,"y":437,"width":82,"height":6}},{"id":"38143dfd-4dc1-47b4-90ff-724374543aec","block_type":"box","text":"shareholders","page_number":58,"box":{"x":521,"y":447,"width":76,"height":6}},{"id":"5220f8be-403f-4861-8601-f15b636e32dc","block_type":"box","text":"455,574","page_number":58,"box":{"x":752,"y":428,"width":42,"height":7}},{"id":"cc565283-e5f0-4ca8-94c6-765d9e83bdce","block_type":"box","text":"395,301","page_number":58,"box":{"x":894,"y":428,"width":42,"height":7}},{"id":"facf5818-45e1-4464-8720-388437437af8","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund | Royal London Multi-Asset Funds ICVC","page_number":58,"box":{"x":469,"y":33,"width":444,"height":8}},{"id":"5390254b-c620-4abb-8798-76296f7e0557","block_type":"box","text":"58","page_number":58,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"0054255d-922a-45c6-8b5e-31eb0530e29c","block_type":"box","text":"Notes to the Financial Statements","page_number":59,"box":{"x":58,"y":94,"width":409,"height":11}},{"id":"154d08cf-d59b-417b-8446-8875af0881b0","block_type":"box","text":"For the six month period ended 30","page_number":59,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"619266b2-11c6-45e4-af3d-837121d5c699","block_type":"box","text":"June 2026","page_number":59,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"097242ad-108b-433c-8d35-1484a0b060af","block_type":"box","text":"1. Accounting policies","page_number":59,"box":{"x":58,"y":151,"width":205,"height":11}},{"id":"9ffb2859-1327-46a8-b784-18c128696091","block_type":"box","text":"The accounting policies are set out in note 1 on pages","page_number":59,"box":{"x":57,"y":169,"width":404,"height":10}},{"id":"2351cd8b-dbd2-4477-8e7c-4e570e3f738c","block_type":"box","text":"5","page_number":59,"box":{"x":470,"y":170,"width":7,"height":7}},{"id":"1fd47dba-7677-470c-ac39-55c3bae6d830","block_type":"box","text":"and","page_number":59,"box":{"x":57,"y":184,"width":24,"height":8}},{"id":"8090f20e-0b8e-4f10-9a6a-c46f5d76ed15","block_type":"box","text":"6","page_number":59,"box":{"x":87,"y":184,"width":7,"height":8}},{"id":"02149a09-b90c-4202-98a8-ca8f1f2bf19f","block_type":"box","text":".","page_number":59,"box":{"x":96,"y":190,"width":2,"height":1}},{"id":"a496bcc8-7a4a-4fba-a073-1bd4ab6cc008","block_type":"box","text":"2. Related party transactions","page_number":59,"box":{"x":57,"y":210,"width":272,"height":12}},{"id":"38ef51e2-f763-46e4-86c5-1899ddd26dc4","block_type":"box","text":"The Fund’s Authorised Corporate Director, Royal London","page_number":59,"box":{"x":57,"y":229,"width":420,"height":10}},{"id":"2651043d-2bb6-4490-86a5-afa72f271013","block_type":"box","text":"Unit Trust Managers Limited, is a related party to the Fund","page_number":59,"box":{"x":58,"y":243,"width":419,"height":10}},{"id":"f5eee044-88c0-49a1-8b0e-3dc73ef5da1d","block_type":"box","text":"as defined by Financial Reporting Standard 102 ‘Related","page_number":59,"box":{"x":57,"y":257,"width":420,"height":10}},{"id":"876d9da0-d760-4dab-ae62-dc143d15ab0b","block_type":"box","text":"Party Disclosures’.","page_number":59,"box":{"x":58,"y":272,"width":124,"height":10}},{"id":"122321d0-f9f0-4fea-8601-5ed2ef37da29","block_type":"box","text":"Fund Management fees charged by Royal London Unit Trust","page_number":59,"box":{"x":58,"y":293,"width":420,"height":10}},{"id":"0a8a16b0-7144-477e-8484-39893a60a060","block_type":"box","text":"Managers Limited are disclosed within the expenses figure","page_number":59,"box":{"x":58,"y":307,"width":419,"height":10}},{"id":"679e74d7-bf67-416b-be45-1ebbf306724a","block_type":"box","text":"shown on the Statement of Total Return and details of shares","page_number":59,"box":{"x":57,"y":321,"width":421,"height":8}},{"id":"da1822dc-5145-4194-9bde-cb34a6cba254","block_type":"box","text":"created and cancelled by Royal London Unit Trust Managers","page_number":59,"box":{"x":57,"y":336,"width":421,"height":9}},{"id":"5c2098aa-4a9a-44ff-a146-b1d23fd614c8","block_type":"box","text":"Limited are shown in the Statement of Change in Net Assets","page_number":59,"box":{"x":58,"y":350,"width":420,"height":10}},{"id":"5c4962da-50cb-4c22-b1fa-a123304b706f","block_type":"box","text":"Attributable to Shareholders and the Distribution figure shown","page_number":59,"box":{"x":57,"y":364,"width":420,"height":10}},{"id":"392df938-2fbd-402d-ab27-f0e704883e41","block_type":"box","text":"on the Statement of Total Return.","page_number":59,"box":{"x":57,"y":378,"width":223,"height":8}},{"id":"b776551b-cdd0-4c37-9d47-a493ef0d420a","block_type":"box","text":"At the six months period end the balance due to Royal London","page_number":59,"box":{"x":57,"y":399,"width":420,"height":10}},{"id":"b77f6f0e-93d8-4e20-91ed-965443d8edfe","block_type":"box","text":"Unit Trust Managers Limited in respect of these transactions","page_number":59,"box":{"x":58,"y":413,"width":419,"height":10}},{"id":"2cf06fb4-1cd9-450d-861a-2cda092f71d3","block_type":"box","text":"was £816,000 (31/12/25: £112,000).","page_number":59,"box":{"x":57,"y":428,"width":238,"height":10}},{"id":"c6b949d0-a742-41df-b410-2ec858d21575","block_type":"box","text":"Amounts due from Royal London Unit Trust Managers Limited in","page_number":59,"box":{"x":57,"y":449,"width":420,"height":10}},{"id":"b95990eb-207d-498d-8d89-6ea51c2a0565","block_type":"box","text":"respect of periodic charge rebates at the period end amounted","page_number":59,"box":{"x":58,"y":463,"width":419,"height":10}},{"id":"55b56b36-4799-4b4c-b88d-0534b5e3a40e","block_type":"box","text":"to £31,000 (31/12/25: £28,000).","page_number":59,"box":{"x":57,"y":477,"width":210,"height":10}},{"id":"57f8e471-715f-4bd7-be5a-5bc685f8c88a","block_type":"box","text":"At the six months period end, 30 June 2026, 76.36% (31/12/25:","page_number":59,"box":{"x":57,"y":498,"width":420,"height":10}},{"id":"c4c92410-08a5-4665-9e3b-b247cbf07a9d","block_type":"box","text":"78.20%) of the shares in issue were held by The Royal London","page_number":59,"box":{"x":57,"y":512,"width":420,"height":10}},{"id":"fa4eb579-cab5-4901-8495-2f5520e2e1ac","block_type":"box","text":"Mutual Insurance Society Limited. Royal London Unit Trust","page_number":59,"box":{"x":58,"y":527,"width":420,"height":10}},{"id":"e677c337-e711-4503-8451-226699be111e","block_type":"box","text":"Managers Limited is a wholly owned subsidiary of The Royal","page_number":59,"box":{"x":58,"y":541,"width":419,"height":10}},{"id":"fdd7ff14-8734-4af0-9401-f8533d2af8f7","block_type":"box","text":"London Mutual Insurance Society Limited.","page_number":59,"box":{"x":58,"y":555,"width":282,"height":10}},{"id":"cd714599-7538-4b44-b156-5ea0651929f7","block_type":"box","text":"Certain directors or close family members of directors of the","page_number":59,"box":{"x":57,"y":576,"width":420,"height":10}},{"id":"796a94c8-b9b9-41f1-9b6b-a5e4c913bcee","block_type":"box","text":"Authorised Corporate Director own shares in the Fund which","page_number":59,"box":{"x":57,"y":590,"width":420,"height":10}},{"id":"5b979515-a549-4eff-9c82-3e319494343e","block_type":"box","text":"are deemed not to be material.","page_number":59,"box":{"x":57,"y":605,"width":206,"height":8}},{"id":"44eee497-bf16-4105-90c8-9a35976e07f0","block_type":"box","text":"3. Fair value of investments","page_number":59,"box":{"x":522,"y":151,"width":255,"height":9}},{"id":"724346f2-2cdc-44d8-8f4d-73d7e8f83731","block_type":"box","text":"The fair values of the Fund’s assets and liabilities are","page_number":59,"box":{"x":521,"y":169,"width":421,"height":8}},{"id":"668bf509-dabd-416d-bceb-b03730e45002","block_type":"box","text":"represented by the values shown in the balance sheet. There","page_number":59,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"9107716f-9960-41ae-a656-71ea7b04eec7","block_type":"box","text":"is no material difference between the value of the financial","page_number":59,"box":{"x":522,"y":198,"width":419,"height":8}},{"id":"b75a11e9-8330-4789-9bfd-7c44c5ce2a1f","block_type":"box","text":"assets and liabilities, as shown in the balance sheet, and their","page_number":59,"box":{"x":521,"y":212,"width":422,"height":9}},{"id":"c9e9eb7a-925d-4af2-b133-f55741313676","block_type":"box","text":"fair value.","page_number":59,"box":{"x":521,"y":226,"width":64,"height":8}},{"id":"14ad3074-71ad-41f6-8830-94c03f652672","block_type":"box","text":"The fair value of investments has been determined using the","page_number":59,"box":{"x":521,"y":247,"width":421,"height":10}},{"id":"01199d54-341b-4d4f-b8a0-52634dc04b7e","block_type":"box","text":"following hierarchy:","page_number":59,"box":{"x":521,"y":262,"width":130,"height":10}},{"id":"855395b4-8b43-44af-9e1d-eafdffae6ab3","block_type":"box","text":"Level 1","page_number":59,"box":{"x":522,"y":283,"width":45,"height":7}},{"id":"ea7b3bf0-4ead-4bec-aca6-036eb377c57d","block_type":"box","text":"The unadjusted quoted price in an active market","page_number":59,"box":{"x":593,"y":283,"width":349,"height":10}},{"id":"9edbcf68-45fd-4114-9bce-784ff48a3781","block_type":"box","text":"for identical assets or liabilities that the entity can","page_number":59,"box":{"x":592,"y":297,"width":349,"height":10}},{"id":"8f12ce1f-5c65-457c-8654-f2c1c6b6c1b2","block_type":"box","text":"access at the measurement date.","page_number":59,"box":{"x":593,"y":311,"width":224,"height":8}},{"id":"62314542-e978-468f-8629-7dab83978774","block_type":"box","text":"Level 2","page_number":59,"box":{"x":522,"y":332,"width":47,"height":8}},{"id":"5880975f-ff78-4542-ad04-271c12ec7751","block_type":"box","text":"Inputs other than quoted prices included within","page_number":59,"box":{"x":594,"y":332,"width":347,"height":10}},{"id":"ffc53834-af5a-4c25-b781-ff4a524ad891","block_type":"box","text":"Level 1 that are observable (i.e. developed using","page_number":59,"box":{"x":593,"y":346,"width":348,"height":10}},{"id":"4b61f4c8-e748-4770-b5c5-f01b8ef397cf","block_type":"box","text":"market data) for the asset or liability, either directly","page_number":59,"box":{"x":593,"y":361,"width":349,"height":10}},{"id":"d15bd5cd-c44f-4bf5-ab5d-7c6a1bc9fdd3","block_type":"box","text":"or indirectly.","page_number":59,"box":{"x":593,"y":375,"width":80,"height":10}},{"id":"0758bd8f-d58e-48b6-b38f-c32c950d485d","block_type":"box","text":"Level 3","page_number":59,"box":{"x":522,"y":396,"width":47,"height":8}},{"id":"f3aa6cbd-7787-463a-9d94-0dcef55f7349","block_type":"box","text":"Inputs are unobservable (i.e. for which market data","page_number":59,"box":{"x":594,"y":396,"width":348,"height":10}},{"id":"91371180-d2ae-4aa0-85c3-3d48d9930ba5","block_type":"box","text":"is unavailable) for the asset or liability.","page_number":59,"box":{"x":593,"y":410,"width":255,"height":10}},{"id":"d02b7df5-5bbf-402b-831a-7bfb2050b7a3","block_type":"box","text":"As at the period ended 30","page_number":59,"box":{"x":521,"y":431,"width":186,"height":10}},{"id":"ed99b82b-d1ae-4bc3-b87d-473bbd3e7123","block_type":"box","text":"June 2026","page_number":59,"box":{"x":713,"y":431,"width":73,"height":8}},{"id":"ad62d7c0-cd40-48b9-9f41-cf2d92d32d18","block_type":"box","text":"Level","page_number":59,"box":{"x":522,"y":456,"width":28,"height":6}},{"id":"54d61958-4a80-4e55-9f21-80ced771d163","block_type":"box","text":"1","page_number":59,"box":{"x":718,"y":456,"width":3,"height":6}},{"id":"fe3aa98c-5ae1-49f5-a178-869c4288b87f","block_type":"box","text":"2","page_number":59,"box":{"x":788,"y":456,"width":6,"height":6}},{"id":"3ea9a484-f341-4396-b5d1-dc1427f65b65","block_type":"box","text":"3","page_number":59,"box":{"x":860,"y":456,"width":6,"height":6}},{"id":"32e3900d-8fe5-4cff-b6b8-837545795093","block_type":"box","text":"Total","page_number":59,"box":{"x":910,"y":456,"width":27,"height":6}},{"id":"c0e83734-100c-49a9-a892-2240f8abdf72","block_type":"box","text":"£’000","page_number":59,"box":{"x":693,"y":466,"width":30,"height":6}},{"id":"2c9d5e12-bce8-4cba-baeb-b1fd88ffb836","block_type":"box","text":"£’000","page_number":59,"box":{"x":764,"y":466,"width":30,"height":6}},{"id":"48c6a774-5b92-408b-b16c-0313c101d926","block_type":"box","text":"£’000","page_number":59,"box":{"x":836,"y":466,"width":30,"height":6}},{"id":"1775cd52-fdb6-4faf-8f2e-c81678c393f6","block_type":"box","text":"£’000","page_number":59,"box":{"x":907,"y":466,"width":30,"height":6}},{"id":"1effebf3-75a0-46c5-a0aa-b6e58c18b179","block_type":"box","text":"Investments","page_number":59,"box":{"x":522,"y":484,"width":69,"height":6}},{"id":"f4855911-6430-45ba-a67c-ba6595dff830","block_type":"box","text":"Exchange Traded","page_number":59,"box":{"x":522,"y":502,"width":92,"height":7}},{"id":"f3dc8643-9440-4cd5-893d-33f278352e6a","block_type":"box","text":"Funds and","page_number":59,"box":{"x":522,"y":511,"width":54,"height":6}},{"id":"f9f6100a-0801-4f9a-a7b9-92cd9f0232e1","block_type":"box","text":"Commodities","page_number":59,"box":{"x":522,"y":521,"width":69,"height":6}},{"id":"834e46de-27d6-4814-80b8-165bb3ae61d6","block_type":"box","text":"4,654","page_number":59,"box":{"x":693,"y":502,"width":30,"height":7}},{"id":"8527efeb-b199-4609-83ee-a998e929ba5f","block_type":"box","text":"–","page_number":59,"box":{"x":788,"y":505,"width":7,"height":1}},{"id":"fb6f3077-9c7e-41b7-8d5e-3f4e1b3454bf","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":505,"width":6,"height":1}},{"id":"348619bf-af1e-44e4-bf60-158f7b98cc59","block_type":"box","text":"4,654","page_number":59,"box":{"x":907,"y":502,"width":30,"height":7}},{"id":"36533d37-eba8-49bf-8059-001683f3ce0a","block_type":"box","text":"Collective investment","page_number":59,"box":{"x":522,"y":538,"width":113,"height":6}},{"id":"1612c7d1-9133-416c-ba7e-b6417f8af9cc","block_type":"box","text":"schemes","page_number":59,"box":{"x":521,"y":548,"width":48,"height":6}},{"id":"dd6d4f57-fd2e-4b51-abe6-41a76287b65b","block_type":"box","text":"–","page_number":59,"box":{"x":717,"y":542,"width":6,"height":0}},{"id":"32a89b61-978e-4d11-bda5-0a1466a6e9c5","block_type":"box","text":"441,739","page_number":59,"box":{"x":753,"y":538,"width":41,"height":7}},{"id":"da8038d7-8f8f-4a17-9c9c-9e19aeba5a24","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":542,"width":6,"height":0}},{"id":"64920218-c3c6-4156-baa7-f3338e4d3ab9","block_type":"box","text":"441,739","page_number":59,"box":{"x":895,"y":538,"width":42,"height":7}},{"id":"8ecea8bd-deb1-4586-a94a-2c80ba0393a1","block_type":"box","text":"Derivatives","page_number":59,"box":{"x":522,"y":565,"width":58,"height":6}},{"id":"9f96dbec-13b6-4c31-a75d-482b1712b286","block_type":"box","text":"881","page_number":59,"box":{"x":704,"y":565,"width":17,"height":6}},{"id":"69881772-e36b-4368-9bdd-929e2fddcf36","block_type":"box","text":"414","page_number":59,"box":{"x":776,"y":565,"width":18,"height":6}},{"id":"421d5450-5251-4dd1-87e0-be79ca7651cb","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":569,"width":6,"height":0}},{"id":"ab7e9ddd-f97f-4407-a979-aa46056aad71","block_type":"box","text":"1,295","page_number":59,"box":{"x":909,"y":565,"width":28,"height":7}},{"id":"fc48df45-7a34-4af1-a97d-a4b038a0bd0c","block_type":"box","text":"Total","page_number":59,"box":{"x":521,"y":583,"width":27,"height":6}},{"id":"0e4ed2b9-69f8-4df8-9403-511859c35e9a","block_type":"box","text":"5,535","page_number":59,"box":{"x":693,"y":583,"width":30,"height":7}},{"id":"7026879d-ee27-4ced-b667-98a41c33c788","block_type":"box","text":"442,153","page_number":59,"box":{"x":752,"y":583,"width":42,"height":7}},{"id":"9b50cd99-fef4-4bbd-8924-f42ee12744bf","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":586,"width":6,"height":1}},{"id":"1e36666e-3e38-4feb-b99e-f010ab69581d","block_type":"box","text":"447,688","page_number":59,"box":{"x":895,"y":583,"width":42,"height":7}},{"id":"7ace8cf5-84a4-49d4-bab4-45229c7dc94d","block_type":"box","text":"Investment liabilities","page_number":59,"box":{"x":522,"y":600,"width":119,"height":6}},{"id":"80376537-389a-4a22-9814-008ce2f914f1","block_type":"box","text":"Derivatives","page_number":59,"box":{"x":522,"y":618,"width":58,"height":6}},{"id":"6a633059-89f0-41c8-a486-c30bc17efd06","block_type":"box","text":"(459)","page_number":59,"box":{"x":700,"y":618,"width":27,"height":7}},{"id":"faa754d2-1f63-4e68-9ea6-d7423e70cdb8","block_type":"box","text":"(55)","page_number":59,"box":{"x":778,"y":618,"width":20,"height":7}},{"id":"98f43ac6-1eea-4c51-8451-41457c731ca7","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":621,"width":6,"height":1}},{"id":"b9ffd472-6cff-449e-9adb-2ff86ccabb27","block_type":"box","text":"(514)","page_number":59,"box":{"x":916,"y":618,"width":25,"height":7}},{"id":"a6d8c857-548a-40c7-bbc9-b717f0e9582f","block_type":"box","text":"Total","page_number":59,"box":{"x":521,"y":635,"width":27,"height":6}},{"id":"9cc48636-0c3f-4b6e-ba75-556808210c27","block_type":"box","text":"(459)","page_number":59,"box":{"x":700,"y":635,"width":27,"height":8}},{"id":"dbaa185e-6ee9-4850-86f4-6271b0f6db7f","block_type":"box","text":"(55)","page_number":59,"box":{"x":778,"y":635,"width":20,"height":8}},{"id":"a335a199-aa97-4e47-94fc-2167cad4d78a","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":639,"width":6,"height":0}},{"id":"f3bfce85-bfd9-439f-b353-22ffc39e684e","block_type":"box","text":"(514)","page_number":59,"box":{"x":915,"y":635,"width":26,"height":8}},{"id":"9284d425-af1c-4e13-873c-885953733378","block_type":"box","text":"As at the year ended 31","page_number":59,"box":{"x":521,"y":657,"width":168,"height":10}},{"id":"3ff4c810-f172-4fb8-bc00-1e3a67d26b53","block_type":"box","text":"December 2025","page_number":59,"box":{"x":697,"y":657,"width":111,"height":8}},{"id":"458160ef-372b-48b3-9610-08a023e85397","block_type":"box","text":"Level","page_number":59,"box":{"x":522,"y":682,"width":28,"height":6}},{"id":"d8391778-6f6f-4959-8e25-456fe1cab2b6","block_type":"box","text":"1","page_number":59,"box":{"x":718,"y":682,"width":3,"height":6}},{"id":"1fdd8a52-7c93-4ef9-b9ec-8142a29eae34","block_type":"box","text":"2","page_number":59,"box":{"x":788,"y":682,"width":6,"height":6}},{"id":"8b57ffff-325c-437e-80ad-4670f67fc5e8","block_type":"box","text":"3","page_number":59,"box":{"x":860,"y":682,"width":6,"height":6}},{"id":"a014e2a5-881a-4358-8036-a7f25b5b406f","block_type":"box","text":"Total","page_number":59,"box":{"x":910,"y":682,"width":27,"height":6}},{"id":"e086c50c-3450-40be-a9e5-ed589637f584","block_type":"box","text":"£’000","page_number":59,"box":{"x":693,"y":692,"width":30,"height":6}},{"id":"56ef19ad-fb4f-4496-9de8-6c49c2ea9f65","block_type":"box","text":"£’000","page_number":59,"box":{"x":764,"y":692,"width":30,"height":6}},{"id":"99e71865-51f5-40f7-a31d-620e7b64d815","block_type":"box","text":"£’000","page_number":59,"box":{"x":836,"y":692,"width":30,"height":6}},{"id":"0de6bdb2-9dd8-4310-8430-3d709b49f01a","block_type":"box","text":"£’000","page_number":59,"box":{"x":907,"y":692,"width":30,"height":6}},{"id":"f79e2500-46b4-4f25-9123-3f4dde17b17e","block_type":"box","text":"Investments","page_number":59,"box":{"x":522,"y":710,"width":69,"height":6}},{"id":"20a3c55c-3af3-4b71-8942-ca5670047bcf","block_type":"box","text":"Exchange Traded","page_number":59,"box":{"x":522,"y":728,"width":92,"height":7}},{"id":"782cbecc-86c4-4f90-b403-115fad7e819b","block_type":"box","text":"Funds and","page_number":59,"box":{"x":522,"y":737,"width":54,"height":6}},{"id":"b38a25e0-f3ed-4c46-9fd1-2fe089ad1530","block_type":"box","text":"Commodities","page_number":59,"box":{"x":522,"y":747,"width":69,"height":6}},{"id":"cbd68bd4-0426-4142-b1d9-1e1540a91afb","block_type":"box","text":"4,024","page_number":59,"box":{"x":694,"y":728,"width":29,"height":7}},{"id":"231573f7-5ea7-4a35-8e11-30b4ea167893","block_type":"box","text":"–","page_number":59,"box":{"x":788,"y":731,"width":7,"height":1}},{"id":"135c3559-9fef-4406-b352-c32482b766e5","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":731,"width":6,"height":1}},{"id":"e030282c-faa9-44ba-a125-de71872c1407","block_type":"box","text":"4,024","page_number":59,"box":{"x":908,"y":728,"width":29,"height":7}},{"id":"4f04fdab-8247-4cc5-a916-da91987da326","block_type":"box","text":"Collective investment","page_number":59,"box":{"x":522,"y":764,"width":113,"height":6}},{"id":"3ff03ee2-f025-4e7a-91f7-56eb3ff4fbf6","block_type":"box","text":"schemes","page_number":59,"box":{"x":521,"y":774,"width":48,"height":6}},{"id":"f9af3121-45d1-4687-9ac0-bf44eab272b3","block_type":"box","text":"–","page_number":59,"box":{"x":717,"y":768,"width":6,"height":0}},{"id":"2e3eab28-7486-4ea0-8342-9f40c0763692","block_type":"box","text":"384,316","page_number":59,"box":{"x":752,"y":764,"width":42,"height":7}},{"id":"31c61162-c1f8-4a8c-94df-5faf19452ef0","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":768,"width":6,"height":0}},{"id":"dfde4005-bd15-47bd-a114-42a68827d16d","block_type":"box","text":"384,316","page_number":59,"box":{"x":895,"y":764,"width":42,"height":7}},{"id":"7179d3b5-4b7f-426c-89cb-79028123b224","block_type":"box","text":"Derivatives","page_number":59,"box":{"x":522,"y":791,"width":58,"height":6}},{"id":"a9fd3ded-5d4a-4aba-8925-e10e5174934f","block_type":"box","text":"487","page_number":59,"box":{"x":704,"y":791,"width":19,"height":6}},{"id":"68af8115-8bdf-42be-b057-dbf5ff1fba5e","block_type":"box","text":"16","page_number":59,"box":{"x":783,"y":791,"width":11,"height":6}},{"id":"86261a2e-0a58-4809-8311-130dcbe70286","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":795,"width":6,"height":0}},{"id":"b9282a28-4ac0-4c2a-8028-1eceef326835","block_type":"box","text":"503","page_number":59,"box":{"x":918,"y":791,"width":19,"height":6}},{"id":"382ffa7f-894e-47b2-bee6-40378a09baea","block_type":"box","text":"Total","page_number":59,"box":{"x":521,"y":809,"width":27,"height":6}},{"id":"f2e97a6b-01e1-488e-98ef-b59e24615789","block_type":"box","text":"4,511","page_number":59,"box":{"x":694,"y":809,"width":27,"height":7}},{"id":"92006657-b55c-495c-bc65-2b5af94a16f3","block_type":"box","text":"384,332","page_number":59,"box":{"x":751,"y":809,"width":43,"height":7}},{"id":"66865562-163e-4140-8e55-19e205842009","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":812,"width":6,"height":1}},{"id":"60ea0792-185a-4bd3-a792-a3d9ddc206ab","block_type":"box","text":"388,843","page_number":59,"box":{"x":894,"y":809,"width":43,"height":7}},{"id":"ebe4ae4f-53d3-4c32-a12a-25de546654ee","block_type":"box","text":"Investment liabilities","page_number":59,"box":{"x":522,"y":826,"width":119,"height":6}},{"id":"35906c39-a828-4d97-9bf3-0668baddb2c4","block_type":"box","text":"Derivatives","page_number":59,"box":{"x":522,"y":844,"width":58,"height":6}},{"id":"1f017e08-13b4-46e9-973c-dea2b394437c","block_type":"box","text":"(502)","page_number":59,"box":{"x":700,"y":844,"width":27,"height":7}},{"id":"26fc3592-c642-405c-b898-29b70345bef5","block_type":"box","text":"(377)","page_number":59,"box":{"x":772,"y":844,"width":26,"height":7}},{"id":"9433c20d-89a4-4727-aa4b-d983ba3f1dbf","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":847,"width":6,"height":1}},{"id":"2389a4ba-86c5-499d-9d73-930cefe3551a","block_type":"box","text":"(879)","page_number":59,"box":{"x":915,"y":844,"width":26,"height":7}},{"id":"8494fc4c-f767-4114-b657-55e44549846d","block_type":"box","text":"Total","page_number":59,"box":{"x":521,"y":861,"width":27,"height":6}},{"id":"196eb87a-5633-41e6-9add-153753719772","block_type":"box","text":"(502)","page_number":59,"box":{"x":700,"y":861,"width":27,"height":8}},{"id":"4b683220-d7fd-4aa0-a210-3caee148326f","block_type":"box","text":"(377)","page_number":59,"box":{"x":771,"y":861,"width":27,"height":8}},{"id":"131a135c-2eb0-4247-9481-fc63e4ca2f91","block_type":"box","text":"–","page_number":59,"box":{"x":860,"y":865,"width":6,"height":1}},{"id":"734ad433-eedc-4b72-a0ff-8a2485a8ae49","block_type":"box","text":"(879)","page_number":59,"box":{"x":914,"y":861,"width":27,"height":8}},{"id":"855b7c0e-7c9c-4810-9977-ee1857c59860","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund | Royal London Multi-Asset Funds ICVC","page_number":59,"box":{"x":469,"y":33,"width":444,"height":8}},{"id":"89d46729-01db-4932-884c-33e2135604d5","block_type":"box","text":"59","page_number":59,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"3093fc5a-d6d3-43a5-9d10-9a370a31385d","block_type":"box","text":"Manager’s Investment Report","page_number":60,"box":{"x":58,"y":151,"width":352,"height":14}},{"id":"5fa20807-e05b-4283-9be3-f83f42f38466","block_type":"box","text":"Cumulative Performance","page_number":60,"box":{"x":57,"y":181,"width":230,"height":9}},{"id":"e9bdbe8f-813d-4f9b-ab0c-ff642da565ee","block_type":"box","text":"(% change to 30/06/26)","page_number":60,"box":{"x":57,"y":203,"width":164,"height":10}},{"id":"857b2a9b-0a48-4f87-ad4c-27b408621ca6","block_type":"box","text":"6 month","page_number":60,"box":{"x":242,"y":231,"width":46,"height":6}},{"id":"a8e2bf27-8b0b-4631-ac94-c85e09901cee","block_type":"box","text":"total","page_number":60,"box":{"x":263,"y":241,"width":25,"height":6}},{"id":"6f7ae5a9-0fb0-440e-965e-ce3ce8ccd783","block_type":"box","text":"return","page_number":60,"box":{"x":254,"y":250,"width":34,"height":6}},{"id":"7aa481db-1037-4b0b-8eac-adf9787bac5c","block_type":"box","text":"%","page_number":60,"box":{"x":279,"y":260,"width":9,"height":6}},{"id":"57286935-9a04-4293-925b-7bc931936570","block_type":"box","text":"1 year","page_number":60,"box":{"x":316,"y":231,"width":34,"height":8}},{"id":"c690fc03-a772-4c73-84b7-6677b894d9e7","block_type":"box","text":"total","page_number":60,"box":{"x":324,"y":241,"width":25,"height":6}},{"id":"35e28314-6bce-49d5-8f36-084c3c0b5913","block_type":"box","text":"return","page_number":60,"box":{"x":315,"y":250,"width":34,"height":6}},{"id":"e01f77a5-bd51-431e-865b-ffec0a96a1e0","block_type":"box","text":"%","page_number":60,"box":{"x":340,"y":260,"width":9,"height":6}},{"id":"7e5f52e9-f2fb-4326-928f-b902c7ddb972","block_type":"box","text":"3 year","page_number":60,"box":{"x":376,"y":231,"width":34,"height":8}},{"id":"e6ed1872-f831-4d64-a437-5473ada14d6d","block_type":"box","text":"total","page_number":60,"box":{"x":385,"y":241,"width":24,"height":6}},{"id":"6294bcde-6cea-4f7e-9a47-dd5faeb9a45b","block_type":"box","text":"return","page_number":60,"box":{"x":376,"y":250,"width":33,"height":6}},{"id":"143d1209-d40b-47a6-b3a0-738411d93d0e","block_type":"box","text":"%","page_number":60,"box":{"x":400,"y":260,"width":10,"height":6}},{"id":"7b14b07c-1937-40ef-987f-0cab8a6aec9b","block_type":"box","text":"5 year","page_number":60,"box":{"x":437,"y":231,"width":34,"height":8}},{"id":"99b49ece-cd54-486d-92a4-ccc1cc7707bc","block_type":"box","text":"total","page_number":60,"box":{"x":445,"y":241,"width":25,"height":6}},{"id":"b0056f89-1f97-417d-b555-48efd47247fc","block_type":"box","text":"return","page_number":60,"box":{"x":436,"y":250,"width":34,"height":6}},{"id":"2792c5d9-b160-4026-a261-2d3cbd3800ec","block_type":"box","text":"%","page_number":60,"box":{"x":461,"y":260,"width":9,"height":6}},{"id":"43131867-5fea-4be4-8d9c-076bfbb6a94f","block_type":"box","text":"Royal London Multi Asset","page_number":60,"box":{"x":58,"y":280,"width":135,"height":7}},{"id":"e201b260-54c7-447c-b413-64a2667435f2","block_type":"box","text":"Strategies Fund,","page_number":60,"box":{"x":57,"y":289,"width":87,"height":8}},{"id":"9fc87ac8-baea-4748-a85c-4696b831758b","block_type":"box","text":"Class M Accumulation","page_number":60,"box":{"x":57,"y":298,"width":118,"height":7}},{"id":"fdab8ae3-6961-4dee-ac0c-58425042d227","block_type":"box","text":"7.30","page_number":60,"box":{"x":267,"y":280,"width":21,"height":6}},{"id":"0944cedb-1d20-4b3c-920b-b0713cd0f491","block_type":"box","text":"15.33","page_number":60,"box":{"x":321,"y":280,"width":28,"height":6}},{"id":"e53df596-df54-457e-b3bf-a96e0113a4e0","block_type":"box","text":"27.96","page_number":60,"box":{"x":381,"y":280,"width":29,"height":6}},{"id":"3a9a822b-ef3c-43f4-b955-2ee8e65046c2","block_type":"box","text":"24.08","page_number":60,"box":{"x":441,"y":280,"width":29,"height":6}},{"id":"3a977a8b-0f39-4df0-ac1c-7fe6a3adf73c","block_type":"box","text":"Royal London Multi Asset","page_number":60,"box":{"x":58,"y":318,"width":135,"height":8}},{"id":"dba544d0-203c-4b28-92bc-f3b6e371ffb0","block_type":"box","text":"Strategies Fund,","page_number":60,"box":{"x":57,"y":327,"width":87,"height":8}},{"id":"46dedf5c-9097-4a15-8a77-2c1ed658ede3","block_type":"box","text":"Class M Income","page_number":60,"box":{"x":57,"y":337,"width":85,"height":6}},{"id":"511652d3-38ad-4f66-be60-24811f14827a","block_type":"box","text":"7.30","page_number":60,"box":{"x":267,"y":318,"width":21,"height":6}},{"id":"2f8c96d9-8ffa-4599-9c45-162361412ced","block_type":"box","text":"15.32","page_number":60,"box":{"x":321,"y":318,"width":28,"height":6}},{"id":"98b4cdf1-6811-46d0-81c0-b5d463ecc0e6","block_type":"box","text":"27.85","page_number":60,"box":{"x":381,"y":318,"width":29,"height":6}},{"id":"7e28321a-baa8-428c-b56b-1f719d431714","block_type":"box","text":"23.96","page_number":60,"box":{"x":441,"y":318,"width":29,"height":6}},{"id":"69eac051-5cf7-426d-923e-374f588b04d6","block_type":"box","text":"Royal London Multi Asset","page_number":60,"box":{"x":58,"y":357,"width":135,"height":7}},{"id":"1f44e671-9e6c-4586-91de-61844dbd0aa7","block_type":"box","text":"Strategies Fund,","page_number":60,"box":{"x":57,"y":366,"width":87,"height":8}},{"id":"1de69343-1f5e-41c6-918e-8bdf229c4dad","block_type":"box","text":"Class R Accumulation","page_number":60,"box":{"x":57,"y":376,"width":117,"height":6}},{"id":"abf4bedc-e3fd-4aae-b8a6-c45674c8bca2","block_type":"box","text":"7.54","page_number":60,"box":{"x":267,"y":357,"width":21,"height":6}},{"id":"8d2b2a10-e076-4c44-baad-10ec8e389c9f","block_type":"box","text":"15.91","page_number":60,"box":{"x":321,"y":357,"width":26,"height":6}},{"id":"064796a5-8490-4a14-bb5f-7a0518b50d18","block_type":"box","text":"29.67","page_number":60,"box":{"x":381,"y":357,"width":29,"height":6}},{"id":"7f144f1c-186d-44e6-8571-cae28376e952","block_type":"box","text":"26.87","page_number":60,"box":{"x":441,"y":357,"width":29,"height":6}},{"id":"6e0987e7-d7e4-43d0-b7a0-e89bb962bfd9","block_type":"box","text":"Royal London Multi Asset","page_number":60,"box":{"x":58,"y":395,"width":135,"height":8}},{"id":"6e7c1433-f6e0-4653-a1be-0d09296479a5","block_type":"box","text":"Strategies Fund,","page_number":60,"box":{"x":57,"y":405,"width":87,"height":7}},{"id":"9c4cbacb-d4d3-47d3-aaf9-c6150a10a190","block_type":"box","text":"Class S Accumulation","page_number":60,"box":{"x":57,"y":414,"width":116,"height":6}},{"id":"f7269ccf-637b-4301-9562-064d2029f58d","block_type":"box","text":"7.51","page_number":60,"box":{"x":268,"y":395,"width":19,"height":6}},{"id":"2c574ecd-ee4f-4202-8ee5-0f37db64bdfe","block_type":"box","text":"15.84","page_number":60,"box":{"x":321,"y":395,"width":28,"height":6}},{"id":"ea67b3a7-7b94-417b-837d-70ce54099276","block_type":"box","text":"29.60","page_number":60,"box":{"x":380,"y":395,"width":30,"height":6}},{"id":"e9234621-1997-4c8e-9fc5-38d65802c920","block_type":"box","text":"26.88","page_number":60,"box":{"x":441,"y":395,"width":29,"height":6}},{"id":"0a2ae9d5-7529-4808-b591-69bb86225e79","block_type":"box","text":"Sterling Overnight Index","page_number":60,"box":{"x":57,"y":434,"width":129,"height":7}},{"id":"064c3fc1-8820-44f2-b8fe-fe4bbdc7804f","block_type":"box","text":"Average Rate (SONIA)*","page_number":60,"box":{"x":57,"y":443,"width":125,"height":8}},{"id":"685ea102-5acc-47ed-a03b-f7683d3653be","block_type":"box","text":"3.74*","page_number":60,"box":{"x":262,"y":434,"width":26,"height":6}},{"id":"fe7609e2-87e2-4d55-ac5f-535420569d81","block_type":"box","text":"9.16","page_number":60,"box":{"x":328,"y":434,"width":21,"height":6}},{"id":"b4326c92-36b2-45d0-9a4a-90c633188ba0","block_type":"box","text":"23.65","page_number":60,"box":{"x":380,"y":434,"width":30,"height":6}},{"id":"c08804a9-89d6-487c-a6cc-de66a59ba9f1","block_type":"box","text":"14.17","page_number":60,"box":{"x":444,"y":434,"width":26,"height":6}},{"id":"f4eb4901-cff9-4b07-b1ae-25b6df6823f4","block_type":"box","text":"Sterling Overnight Index","page_number":60,"box":{"x":57,"y":463,"width":129,"height":7}},{"id":"ca649755-88b0-4a64-a1ff-9116fb109732","block_type":"box","text":"Average Rate (SONIA) +4% p.a.","page_number":60,"box":{"x":57,"y":472,"width":170,"height":8}},{"id":"2916113d-7f41-4b6d-be8b-6e2b2dec8c59","block_type":"box","text":"5.74","page_number":60,"box":{"x":267,"y":463,"width":21,"height":6}},{"id":"9b26c0c7-dcd0-4d2e-a810-fc675f7537e5","block_type":"box","text":"13.16","page_number":60,"box":{"x":322,"y":463,"width":27,"height":6}},{"id":"fcf4009d-1fc1-4234-8279-402e66c4ec42","block_type":"box","text":"35.65","page_number":60,"box":{"x":380,"y":463,"width":30,"height":6}},{"id":"f254bbe4-c188-485b-b519-199c51819eed","block_type":"box","text":"34.17","page_number":60,"box":{"x":443,"y":463,"width":27,"height":6}},{"id":"125b9ebc-5bb8-4922-ba02-aab2b0591419","block_type":"box","text":"* Benchmark","page_number":60,"box":{"x":57,"y":500,"width":69,"height":6}},{"id":"0a0ca2d0-96f9-4920-b688-5e8b132589c5","block_type":"box","text":"Past performance is not necessarily a reliable indicator","page_number":60,"box":{"x":58,"y":519,"width":420,"height":10}},{"id":"179725a8-2028-4ce8-ad8a-75a01796771e","block_type":"box","text":"of future performance. The value of investments and the","page_number":60,"box":{"x":57,"y":533,"width":420,"height":10}},{"id":"77ececbc-995a-42e6-a135-6f5e2717a4e5","block_type":"box","text":"income from them is not guaranteed and may go down","page_number":60,"box":{"x":58,"y":548,"width":419,"height":10}},{"id":"ccda2c09-af4c-4069-b2eb-6483539f1db0","block_type":"box","text":"as well as up and investors may not get back the amount","page_number":60,"box":{"x":57,"y":562,"width":421,"height":10}},{"id":"a77c3e28-89ab-4469-8c91-931c47548ee4","block_type":"box","text":"originally invested.","page_number":60,"box":{"x":57,"y":576,"width":138,"height":10}},{"id":"3eaae577-c668-464f-8cec-1d2374950231","block_type":"box","text":"Source: Royal London Asset Management Limited and","page_number":60,"box":{"x":57,"y":597,"width":420,"height":10}},{"id":"76febf53-0cae-41aa-8b00-08817b2ab331","block_type":"box","text":"Morningstar, as at 30","page_number":60,"box":{"x":58,"y":612,"width":165,"height":9}},{"id":"0a1a0805-3836-4c22-a84e-52b614c956eb","block_type":"box","text":"June 2026. Returns are net of","page_number":60,"box":{"x":237,"y":611,"width":242,"height":8}},{"id":"a4f79dc8-1d8c-4682-bc4d-69a4e0ffd591","block_type":"box","text":"management fees. Investors should also note that the total","page_number":60,"box":{"x":58,"y":626,"width":419,"height":10}},{"id":"74dafe83-3844-41bb-a777-923ef1ac89c8","block_type":"box","text":"return is calculated on the Fund’s official 2pm price whereas the","page_number":60,"box":{"x":58,"y":640,"width":419,"height":10}},{"id":"43fb11c0-c988-4a44-b3a7-14803023237a","block_type":"box","text":"Fund has been valued as at close of business for the Closing","page_number":60,"box":{"x":58,"y":654,"width":419,"height":10}},{"id":"ed806675-7eb7-468a-b4c1-2f3dee8973a9","block_type":"box","text":"Net Asset Value quoted within the Comparative Table. For","page_number":60,"box":{"x":58,"y":668,"width":420,"height":10}},{"id":"0199bacd-5bc4-4b5e-98b9-90ed42e8b0a3","block_type":"box","text":"further information, including ongoing performance and Fund","page_number":60,"box":{"x":57,"y":683,"width":420,"height":10}},{"id":"2df4c5ad-b457-4787-ab1f-bbffdacca203","block_type":"box","text":"breakdown information, please refer to the latest factsheet at","page_number":60,"box":{"x":58,"y":697,"width":420,"height":10}},{"id":"b07ff5d9-d398-4def-9c78-7fee00c9b015","block_type":"box","text":"www.rlam.com.","page_number":60,"box":{"x":57,"y":711,"width":103,"height":8}},{"id":"248e3ef6-9a9f-40f0-8c5d-256cb48f47a4","block_type":"box","text":"Fund objective","page_number":60,"box":{"x":522,"y":151,"width":135,"height":11}},{"id":"8b126cf4-aa38-4486-896d-72bc8cb632ae","block_type":"box","text":"The Fund aims to achieve capital growth over rolling 5-year","page_number":60,"box":{"x":521,"y":169,"width":422,"height":10}},{"id":"2798d537-3ab8-4fb2-8091-ee93e94d9b94","block_type":"box","text":"periods, after the deduction of charges. The Fund forms part of","page_number":60,"box":{"x":522,"y":184,"width":421,"height":10}},{"id":"845203ee-8e37-46fb-8afa-21942e63396e","block_type":"box","text":"the Royal London Global Multi-Asset Portfolio (“GMAP”) range","page_number":60,"box":{"x":521,"y":198,"width":421,"height":10}},{"id":"dfff669a-5a8c-4349-bc84-0450ec30553e","block_type":"box","text":"and aims to achieve a high level of risk and return relative to","page_number":60,"box":{"x":521,"y":212,"width":421,"height":10}},{"id":"9c104262-ab2b-4b57-aa3b-6927b524726e","block_type":"box","text":"other funds in the GMAP range as further described in the","page_number":60,"box":{"x":521,"y":226,"width":421,"height":10}},{"id":"161ac548-6e9a-46a4-bb7a-92ed39d463c0","block_type":"box","text":"investment strategy. The performance comparator for the","page_number":60,"box":{"x":522,"y":241,"width":420,"height":10}},{"id":"f7874546-f244-41d4-9394-1dd1bf2e60ca","block_type":"box","text":"Fund is the IA Mixed Investment 40–85% Shares sector (“IA","page_number":60,"box":{"x":522,"y":255,"width":420,"height":10}},{"id":"4efed414-1e40-40cd-9cb7-8846e6647418","block_type":"box","text":"Sector”). Funds in the IA Sector must invest between 40% and","page_number":60,"box":{"x":522,"y":269,"width":419,"height":10}},{"id":"8edbebbf-5f87-433d-b389-f127a6204137","block_type":"box","text":"85% of their assets in shares. The Fund’s assets are generally","page_number":60,"box":{"x":522,"y":283,"width":420,"height":10}},{"id":"29348719-3edc-41ea-8408-fb52cd3ba896","block_type":"box","text":"consistent with these investment parameters therefore the IA","page_number":60,"box":{"x":522,"y":298,"width":420,"height":10}},{"id":"87c0564d-ec95-4044-89df-a98f397e266f","block_type":"box","text":"Sector is considered appropriate as a performance comparator.","page_number":60,"box":{"x":522,"y":312,"width":419,"height":10}},{"id":"af829c29-d80b-44d6-a60a-d7bd8bd874db","block_type":"box","text":"Management of the Fund is not restricted by the use of the IA","page_number":60,"box":{"x":522,"y":326,"width":420,"height":10}},{"id":"177ed5b7-9222-4314-bcfb-2e241cc99dcb","block_type":"box","text":"Sector as a performance comparator.","page_number":60,"box":{"x":522,"y":340,"width":251,"height":10}},{"id":"e6fb62e5-4268-40d3-8edd-d0137cf1f785","block_type":"box","text":"Performance overview","page_number":60,"box":{"x":522,"y":367,"width":209,"height":9}},{"id":"e364cb0e-3099-4837-bf0f-0604407a7fbe","block_type":"box","text":"The Fund outperformed the benchmark during the period","page_number":60,"box":{"x":521,"y":386,"width":420,"height":10}},{"id":"0a5aa458-4285-4266-9ecd-de73089a404b","block_type":"box","text":"under review.","page_number":60,"box":{"x":522,"y":400,"width":88,"height":8}},{"id":"61641d46-e09b-49d5-9fe7-59a809ce6696","block_type":"box","text":"Market overview","page_number":60,"box":{"x":522,"y":427,"width":154,"height":9}},{"id":"8a3561f6-2663-4f45-ab85-97dea39ed830","block_type":"box","text":"Geopolitical tensions in the Middle East were a key driver of","page_number":60,"box":{"x":522,"y":445,"width":421,"height":10}},{"id":"08358a92-ab2a-4932-93d4-7ecfd44de7dc","block_type":"box","text":"markets over the period, which saw commodities rise materially","page_number":60,"box":{"x":522,"y":460,"width":420,"height":10}},{"id":"09070ca1-d2ad-42f2-aad4-6946c4848136","block_type":"box","text":"over the start of the year. Despite this, global equity markets","page_number":60,"box":{"x":521,"y":474,"width":421,"height":10}},{"id":"27e5f9e9-3616-448a-9294-427cabe58162","block_type":"box","text":"performed well over the period, with euphoria around Artificial","page_number":60,"box":{"x":522,"y":488,"width":419,"height":10}},{"id":"b84dd96e-863c-4989-ba0d-5d8e24cf1802","block_type":"box","text":"Intelligence (AI) once again boosting investor sentiment.","page_number":60,"box":{"x":522,"y":502,"width":419,"height":10}},{"id":"0a7d1c60-cd34-448f-bd48-8d6df08c5247","block_type":"box","text":"Semiconductor companies, which are at the heart of the AI","page_number":60,"box":{"x":522,"y":517,"width":419,"height":10}},{"id":"3aafa74d-df39-4827-b5f0-a2dda88d00ce","block_type":"box","text":"infrastructure buildout, were beneficiaries, rising sharply.","page_number":60,"box":{"x":522,"y":531,"width":419,"height":10}},{"id":"ec8190be-e59f-4c35-96ec-0fdf4f96f0e4","block_type":"box","text":"Bond yields ended the period higher, as rising inflation risk","page_number":60,"box":{"x":522,"y":545,"width":420,"height":10}},{"id":"d0b26f24-5542-43ae-9383-d7ced6129cdb","block_type":"box","text":"saw markets moved to price in interest rate hikes from global","page_number":60,"box":{"x":521,"y":559,"width":420,"height":10}},{"id":"852c28d6-eebd-4e82-a5b1-c3678bcf5075","block_type":"box","text":"central banks.","page_number":60,"box":{"x":522,"y":574,"width":93,"height":8}},{"id":"9c10d6c7-3fcf-4943-a0a8-7d5a0187d167","block_type":"box","text":"Royal London Multi Asset Strategies Fund","page_number":60,"box":{"x":59,"y":94,"width":611,"height":17}},{"id":"8c7ed0cd-831a-49c0-86f7-2fcf13f3ede1","block_type":"box","text":"Royal London Multi Asset Strategies Fund | Royal London Multi-Asset Funds ICVC","page_number":60,"box":{"x":475,"y":33,"width":438,"height":8}},{"id":"a0ae4842-ec2e-4a94-a28b-f57e3b95a3a3","block_type":"box","text":"60","page_number":60,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"42afa14c-32f8-412c-ac6a-f57dbcf96e59","block_type":"box","text":"Portfolio commentary","page_number":61,"box":{"x":58,"y":151,"width":202,"height":11}},{"id":"f6f76308-e832-4e29-b5cf-f1a1a1799cfb","block_type":"box","text":"Having begun the year with a tactically overweight position in","page_number":61,"box":{"x":58,"y":169,"width":419,"height":10}},{"id":"a40edc99-b8bb-4450-97c5-b3fea5682fde","block_type":"box","text":"equities, the Fund moved to a more defensive position towards","page_number":61,"box":{"x":57,"y":184,"width":421,"height":10}},{"id":"56083360-410a-439f-b426-91c03d5c9f63","block_type":"box","text":"the end of the first quarter, noting the sharp rise of uncertainty","page_number":61,"box":{"x":57,"y":198,"width":421,"height":10}},{"id":"13cd1410-1429-41f4-9395-6d8b8826402a","block_type":"box","text":"which accompanied the onset of the war between US and Iran.","page_number":61,"box":{"x":57,"y":212,"width":420,"height":10}},{"id":"c4cbe07a-c02b-47b7-bc9a-9261173c6123","block_type":"box","text":"This saw the Fund move to a tactically underweight position","page_number":61,"box":{"x":57,"y":226,"width":420,"height":10}},{"id":"e2dc423b-8bca-445c-b104-6adc3b8eafa3","block_type":"box","text":"heading into the Spring. The Fund shortly added back to","page_number":61,"box":{"x":58,"y":241,"width":420,"height":10}},{"id":"feffcb73-799c-4068-8b74-a98d30e97f8b","block_type":"box","text":"equities at the lower levels, as investor sentiment started to","page_number":61,"box":{"x":57,"y":255,"width":420,"height":10}},{"id":"5255c4fd-e38e-4cc0-8300-6826008b4f80","block_type":"box","text":"improve from oversold levels on renewed AI enthusiasm.","page_number":61,"box":{"x":58,"y":269,"width":380,"height":10}},{"id":"8b1fddc8-2af0-4974-a298-8f74a73a4cf7","block_type":"box","text":"At the regional level, tactical positioning has mostly been","page_number":61,"box":{"x":57,"y":290,"width":420,"height":10}},{"id":"c6a2bab0-8f2f-4c09-97db-326846263f29","block_type":"box","text":"overweight Japan, the US and emerging markets supported","page_number":61,"box":{"x":57,"y":304,"width":420,"height":10}},{"id":"a81b9fc1-8821-48a2-b044-d2dea5530307","block_type":"box","text":"by strong earnings and the enthusiasm around AI stocks.","page_number":61,"box":{"x":58,"y":319,"width":419,"height":10}},{"id":"fbd59935-356e-4df4-9078-dd11c27d603a","block_type":"box","text":"The Fund has also remained tactically underweight Europe","page_number":61,"box":{"x":57,"y":333,"width":420,"height":10}},{"id":"dd6b76fb-5aaa-4dad-89c4-8f9e906ab122","block_type":"box","text":"throughout most of the period as earnings continued to be","page_number":61,"box":{"x":57,"y":347,"width":420,"height":10}},{"id":"8878c02c-2eb0-43a7-a9d7-df732eb96171","block_type":"box","text":"lacklustre and the region suffered with its greater sensitivity to","page_number":61,"box":{"x":58,"y":361,"width":419,"height":10}},{"id":"e9fa31f6-ac6c-4117-a306-be9960f29740","block_type":"box","text":"the higher energy prices.","page_number":61,"box":{"x":57,"y":376,"width":167,"height":10}},{"id":"ee2bb895-3f7a-460b-bc4b-335921b7e7fc","block_type":"box","text":"Elsewhere, our strategic allocation to commodities proved","page_number":61,"box":{"x":58,"y":397,"width":419,"height":10}},{"id":"4dee0274-3f03-4098-a62a-5440f17bb776","block_type":"box","text":"beneficial particularly in the early months of 2026, as the","page_number":61,"box":{"x":58,"y":411,"width":419,"height":10}},{"id":"61e32725-feda-4661-afc7-586b3bb2686e","block_type":"box","text":"asset class surged over the quarter as escalating geopolitical","page_number":61,"box":{"x":57,"y":425,"width":420,"height":10}},{"id":"cabcd61f-5db7-4f6c-97ae-8739faa4515f","block_type":"box","text":"tensions culminated in direct military conflict with Iran. Brent","page_number":61,"box":{"x":57,"y":439,"width":421,"height":10}},{"id":"f4f513d6-ea42-41e4-9037-0b8bb56a6f35","block_type":"box","text":"crude recorded its largest quarterly gain since the Gulf War in","page_number":61,"box":{"x":57,"y":454,"width":420,"height":10}},{"id":"5c0a8e50-a3e2-466c-bd6e-ca074c12e81c","block_type":"box","text":"1990 (+94%).","page_number":61,"box":{"x":58,"y":468,"width":87,"height":10}},{"id":"fb89e714-8fa0-4558-a13c-ae937b0e9b5b","block_type":"box","text":"Gold had been held as a separate tactical position heading","page_number":61,"box":{"x":57,"y":489,"width":420,"height":10}},{"id":"bcf06604-0f25-4f66-99ee-7eaa0b77edec","block_type":"box","text":"into the year before being fully removed towards the end of","page_number":61,"box":{"x":58,"y":503,"width":421,"height":10}},{"id":"c9cf6e26-4466-4010-ab69-b047ffe62de1","block_type":"box","text":"March. The position had continued to add value in the Fund,","page_number":61,"box":{"x":58,"y":518,"width":419,"height":9}},{"id":"769a1f40-1784-4981-8427-594d14e8da01","block_type":"box","text":"benefitting last year from a backdrop of elevated risks around","page_number":61,"box":{"x":58,"y":532,"width":419,"height":10}},{"id":"f895ab09-7aba-4bc1-9da7-406a607d5221","block_type":"box","text":"geopolitics and US policy.","page_number":61,"box":{"x":57,"y":546,"width":173,"height":10}},{"id":"e9c2cd08-9990-4819-a687-d157502c4dad","block_type":"box","text":"Investment outlook","page_number":61,"box":{"x":522,"y":151,"width":179,"height":9}},{"id":"40774059-e993-4703-a118-d65df5911f53","block_type":"box","text":"The Investment Clock is in Stagflation, reflecting the high oil","page_number":61,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"defb1e97-decd-4608-8ca7-f4289c40f96c","block_type":"box","text":"price and weaker business surveys amid the still uncertain US","page_number":61,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"a1d1b497-a3e7-446a-956e-f744240a2d82","block_type":"box","text":"Iran conflict.","page_number":61,"box":{"x":522,"y":198,"width":81,"height":8}},{"id":"e94c91c2-f830-4a30-a5db-0790ab6b4bc0","block_type":"box","text":"Energy prices retreated last quarter on signs of a fragile","page_number":61,"box":{"x":522,"y":219,"width":420,"height":10}},{"id":"a6be8410-260f-4fc2-9702-9dd909a01e37","block_type":"box","text":"peace deal, but tensions have since risen again. Commodities","page_number":61,"box":{"x":522,"y":233,"width":420,"height":10}},{"id":"b53f27d2-5849-4bc8-ae36-374486d6f208","block_type":"box","text":"remain a good hedge against a renewed flare up in geopolitical","page_number":61,"box":{"x":522,"y":247,"width":419,"height":10}},{"id":"7ab77e45-81ed-49ea-bb22-012ff480993f","block_type":"box","text":"tensions and spikes in inflation.","page_number":61,"box":{"x":521,"y":262,"width":210,"height":10}},{"id":"81e679b0-e64c-402c-8f4b-37e0fcb72fba","block_type":"box","text":"The AI boom is raising corporate earnings of technology","page_number":61,"box":{"x":521,"y":283,"width":421,"height":10}},{"id":"74cf6413-9ced-4bfb-84be-e15fdecdf9e3","block_type":"box","text":"stocks. Cycle-adjusted valuations are near dot com era levels.","page_number":61,"box":{"x":521,"y":297,"width":420,"height":10}},{"id":"a9ed90b0-97b0-4e70-bab9-21887a81ef63","block_type":"box","text":"Innovation waves often get overblown in financial markets,","page_number":61,"box":{"x":522,"y":311,"width":419,"height":10}},{"id":"5cd03138-77d9-47fa-9dd6-4c739e4d7b65","block_type":"box","text":"even when their long-term impact is transformative.","page_number":61,"box":{"x":521,"y":325,"width":345,"height":10}},{"id":"9287d50e-8cf8-4d03-8f16-bf028b4ab833","block_type":"box","text":"Tactically, we maintain a moderate overweight position in","page_number":61,"box":{"x":521,"y":346,"width":420,"height":10}},{"id":"05821a42-d99d-4a2f-a466-69168658062d","block_type":"box","text":"equities and underweight position in government bonds.","page_number":61,"box":{"x":521,"y":361,"width":377,"height":10}},{"id":"1cd7ee22-a9bd-4205-8e08-2d545c2e0839","block_type":"box","text":"Please see our Investment Clock blog at www.rlam.com for our","page_number":61,"box":{"x":522,"y":382,"width":421,"height":10}},{"id":"72c0d705-43c0-47cb-889d-598a938de35c","block_type":"box","text":"latest views.","page_number":61,"box":{"x":522,"y":396,"width":81,"height":8}},{"id":"b6b259ae-864d-4493-80cb-19fda7e5be8f","block_type":"box","text":"Trevor Greetham","page_number":61,"box":{"x":521,"y":438,"width":122,"height":8}},{"id":"27daf0dd-5e12-4752-992e-ad296f807d0e","block_type":"box","text":"Fund Manager","page_number":61,"box":{"x":522,"y":452,"width":104,"height":10}},{"id":"f784cb50-8497-4f41-b7d6-a0482de41414","block_type":"box","text":"Royal London Asset Management Limited","page_number":61,"box":{"x":522,"y":466,"width":303,"height":10}},{"id":"e4eb9e54-0d41-4698-af35-84e0be7dfc14","block_type":"box","text":"30","page_number":61,"box":{"x":522,"y":481,"width":15,"height":7}},{"id":"d4558fc4-31cd-435f-9139-53975af38a86","block_type":"box","text":"June 2026","page_number":61,"box":{"x":542,"y":481,"width":74,"height":7}},{"id":"fca61ef6-a0f9-4004-bc40-c596b36b7784","block_type":"box","text":"Please note that this commentary is written as at end of the","page_number":61,"box":{"x":522,"y":515,"width":420,"height":10}},{"id":"ab1fd22a-1aad-4c5f-b61d-128ae3ff07fc","block_type":"box","text":"review period. For insights into market events or positioning","page_number":61,"box":{"x":522,"y":528,"width":419,"height":10}},{"id":"15f1658a-55ae-4188-8f67-6d7f280c5703","block_type":"box","text":"since then, please go to www.rlam.com.","page_number":61,"box":{"x":521,"y":541,"width":270,"height":10}},{"id":"09300dda-b177-4b99-a352-bf69bfaba284","block_type":"box","text":"This report covers investment performance, activity and","page_number":61,"box":{"x":521,"y":557,"width":420,"height":10}},{"id":"14017417-23e6-438b-886a-57f3f619d5e6","block_type":"box","text":"outlook. For a wider look at the Fund, our Annual Assessment","page_number":61,"box":{"x":521,"y":570,"width":421,"height":10}},{"id":"9db17d5d-6e8c-4a97-8e88-3c141343c052","block_type":"box","text":"of Value report is available at www.rlam.com.","page_number":61,"box":{"x":521,"y":583,"width":306,"height":10}},{"id":"98855940-ce02-4547-9604-61afe2078950","block_type":"box","text":"For further help on some of the terms used, please see our","page_number":61,"box":{"x":522,"y":600,"width":421,"height":10}},{"id":"d7c68453-d4ef-43d3-b53b-c98a65a74933","block_type":"box","text":"glossary at www.rlam.com/uk/individual-investors/glossary.","page_number":61,"box":{"x":521,"y":613,"width":400,"height":10}},{"id":"cebb5c5a-11b4-4655-9d91-5c73068013a8","block_type":"box","text":"The Task Force on Climate-related Financial Disclosures","page_number":61,"box":{"x":521,"y":629,"width":421,"height":8}},{"id":"6d6a8cc4-fefd-42c4-a193-5627bfe0d9f9","block_type":"box","text":"(TCFD) Report can be found under the relevant Fund name","page_number":61,"box":{"x":522,"y":642,"width":420,"height":10}},{"id":"fe82cdca-8a2d-4fea-baf5-ba8fa75e6e65","block_type":"box","text":"at","page_number":61,"box":{"x":521,"y":656,"width":13,"height":7}},{"id":"4f71d260-7c62-467e-933b-d5ab7b263923","block_type":"box","text":"https://www.rlam.com/uk/individual-investors/funds","page_number":61,"box":{"x":545,"y":655,"width":392,"height":10}},{"id":"2e90f801-da01-4bd6-8b3c-46709ead4f9d","block_type":"box","text":".","page_number":61,"box":{"x":940,"y":662,"width":1,"height":1}},{"id":"216e4d1d-db6c-4e7f-9632-ee18590d4cb1","block_type":"box","text":"This report has been prepared in accordance with the","page_number":61,"box":{"x":521,"y":669,"width":421,"height":9}},{"id":"24a61822-0c13-4478-9db8-26bfa4eb9390","block_type":"box","text":"recommendations of the TCFD, which aims to help the","page_number":61,"box":{"x":522,"y":682,"width":420,"height":9}},{"id":"a3e3544a-0d33-4238-a20f-42ea7f5c820c","block_type":"box","text":"investment community build a more in-depth and consistent","page_number":61,"box":{"x":522,"y":695,"width":420,"height":10}},{"id":"940856bc-2743-4807-a153-33916ba958e1","block_type":"box","text":"picture of the impact of climate change. A copy of Royal","page_number":61,"box":{"x":522,"y":708,"width":419,"height":10}},{"id":"14feaa2e-0570-4273-bc3d-4f42ee5d7d31","block_type":"box","text":"London Asset Management Limited’s annual TCFD Report","page_number":61,"box":{"x":522,"y":721,"width":420,"height":10}},{"id":"641811b7-c1e5-4871-b68e-cad541ca7576","block_type":"box","text":"can also be found on our website.","page_number":61,"box":{"x":522,"y":734,"width":227,"height":8}},{"id":"afa0eb49-8eb8-4b40-abaa-580ed03cbbbc","block_type":"box","text":"The views expressed are the author’s own and do not","page_number":61,"box":{"x":521,"y":750,"width":421,"height":10}},{"id":"e44b5ca0-8290-4233-8a2d-3c9ec6ed594a","block_type":"box","text":"constitute investment advice and are not an indication","page_number":61,"box":{"x":522,"y":763,"width":419,"height":8}},{"id":"22c14dc9-3b17-42ae-a2ef-454c489434bc","block_type":"box","text":"of future Fund performance. Portfolio holdings are","page_number":61,"box":{"x":521,"y":776,"width":421,"height":10}},{"id":"e747eccf-202a-4471-8b4f-7eefe5b227bd","block_type":"box","text":"subject to change, for information only and are not","page_number":61,"box":{"x":521,"y":789,"width":421,"height":10}},{"id":"d0291aa6-5db8-4371-8a88-da3d585f0885","block_type":"box","text":"investment recommendations.","page_number":61,"box":{"x":522,"y":803,"width":202,"height":7}},{"id":"9a285ee9-70c0-436d-a1fb-1a930a1a7fe2","block_type":"box","text":"Source: Royal London Asset Management Limited, unless","page_number":61,"box":{"x":522,"y":819,"width":392,"height":10}},{"id":"e2fbb526-31d7-4363-9177-577d2290a97d","block_type":"box","text":"otherwise stated.","page_number":61,"box":{"x":521,"y":832,"width":115,"height":8}},{"id":"16eb2fa8-9b4a-4b6e-a0d9-6207e7396a8d","block_type":"box","text":"Manager’s Investment Report","page_number":61,"box":{"x":58,"y":94,"width":352,"height":14}},{"id":"fc18bf1d-f775-4b48-838e-1fc9d66f5349","block_type":"box","text":"(continued)","page_number":61,"box":{"x":415,"y":97,"width":75,"height":10}},{"id":"68ef217a-0e84-4b13-b6aa-c3302b6ce97a","block_type":"box","text":"Royal London Multi Asset Strategies Fund | Royal London Multi-Asset Funds ICVC","page_number":61,"box":{"x":475,"y":33,"width":438,"height":8}},{"id":"83034be3-0a4c-45a0-8cac-f107bf080722","block_type":"box","text":"61","page_number":61,"box":{"x":930,"y":33,"width":10,"height":6}},{"id":"06bf621f-58f8-4b0d-a487-fb91e33eaad4","block_type":"box","text":"Class M Accumulation","page_number":62,"box":{"x":57,"y":151,"width":206,"height":9}},{"id":"6e0bc7e6-eccc-40cd-bb78-e6e3b5b674ba","block_type":"box","text":"Change in net assets","page_number":62,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"406ed373-148a-42e9-bee0-384ca36ae971","block_type":"box","text":"30/06/26","page_number":62,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"93b9bfa8-7db7-44e5-8833-92507359875c","block_type":"box","text":"31/12/25","page_number":62,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"612a7918-9382-42ac-a375-2897131802e6","block_type":"box","text":"31/12/24","page_number":62,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"ca77b456-1b81-4a84-98bd-9f6ec76a9672","block_type":"box","text":"31/12/23","page_number":62,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"bcce2331-6593-43d5-850c-941ef42c2c1f","block_type":"box","text":"per share","page_number":62,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"1e3b8313-033d-4eb3-9f22-67294f17adbb","block_type":"box","text":"(p)","page_number":62,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"4f649172-793f-4f9a-bfbb-0a9dd9da2982","block_type":"box","text":"(p)","page_number":62,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"a8749aeb-ab9d-42a4-b908-3e8bb067c46a","block_type":"box","text":"(p)","page_number":62,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"7cd40b0e-62cb-435e-8914-2677c083fa46","block_type":"box","text":"(p)","page_number":62,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"483e0a8a-5ad8-47cb-a7c9-fca7b42a1347","block_type":"box","text":"Opening net asset","page_number":62,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"c57219d9-8acd-43e8-a728-3831d3abacfb","block_type":"box","text":"value per share","page_number":62,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"c6a73eeb-ae8e-4565-859f-27ecac979d10","block_type":"box","text":"121.78","page_number":62,"box":{"x":225,"y":205,"width":34,"height":6}},{"id":"e5b98cc0-5e80-4513-add1-38e402b730ae","block_type":"box","text":"113.44","page_number":62,"box":{"x":296,"y":205,"width":34,"height":6}},{"id":"a5c44250-dfb0-43a2-b8aa-fe03dc70b547","block_type":"box","text":"107.62","page_number":62,"box":{"x":368,"y":205,"width":33,"height":6}},{"id":"5471db9f-266d-4c35-bf2a-566a3cc42f37","block_type":"box","text":"100.31","page_number":62,"box":{"x":438,"y":205,"width":33,"height":6}},{"id":"e3c6c065-4ff5-4c19-b12e-55d9330bd00d","block_type":"box","text":"Return before operating","page_number":62,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"c59fb844-07cf-4d13-aff3-bccb70fdf77d","block_type":"box","text":"charges*","page_number":62,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"4c29cc43-4b00-4b08-86df-1a474dd4103b","block_type":"box","text":"9.35","page_number":62,"box":{"x":236,"y":232,"width":23,"height":6}},{"id":"a566e894-26dd-4f3a-8d44-f63b31541c81","block_type":"box","text":"8.98","page_number":62,"box":{"x":307,"y":232,"width":23,"height":6}},{"id":"3bb0bcf6-2ed7-4da3-8f42-a9f2ce6adb7b","block_type":"box","text":"6.43","page_number":62,"box":{"x":379,"y":232,"width":22,"height":6}},{"id":"90b3f290-4cef-448d-b0c4-41f8f2c3d3d6","block_type":"box","text":"7.88","page_number":62,"box":{"x":451,"y":232,"width":22,"height":6}},{"id":"07bcbf44-4c09-422f-9809-ec0747b7398c","block_type":"box","text":"Operating charges","page_number":62,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"70a1f858-45f9-4df2-b048-79e7c095b6dd","block_type":"box","text":"(0.35)","page_number":62,"box":{"x":232,"y":259,"width":31,"height":8}},{"id":"24c6b2a1-56b9-472b-9608-4f578df8265a","block_type":"box","text":"(0.64)","page_number":62,"box":{"x":304,"y":259,"width":30,"height":8}},{"id":"f6db657f-3f3f-42e8-84d9-2983fdf3a571","block_type":"box","text":"(0.61)","page_number":62,"box":{"x":376,"y":259,"width":29,"height":8}},{"id":"f6810ced-cae2-4ceb-9122-1be4d16169e3","block_type":"box","text":"(0.57)","page_number":62,"box":{"x":447,"y":259,"width":30,"height":8}},{"id":"98b1d993-1fc1-480d-aeed-2416aed02ed7","block_type":"box","text":"Return after operating","page_number":62,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"21d75234-1881-4152-95a3-18f6e4aca488","block_type":"box","text":"charges*","page_number":62,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"787c6f12-20b9-4220-b1ce-cb4f46cbb62b","block_type":"box","text":"9.00","page_number":62,"box":{"x":236,"y":276,"width":22,"height":6}},{"id":"a7df28bd-83c8-4e55-9006-86e9402c7c17","block_type":"box","text":"8.34","page_number":62,"box":{"x":307,"y":276,"width":23,"height":6}},{"id":"4be0d00e-d2c4-4425-bd63-0040d9b66a66","block_type":"box","text":"5.82","page_number":62,"box":{"x":379,"y":276,"width":22,"height":6}},{"id":"6514aab5-23f5-4f7b-a787-199508008b70","block_type":"box","text":"7.31","page_number":62,"box":{"x":452,"y":276,"width":19,"height":6}},{"id":"66ddb9b6-0220-4eba-988f-29a9e45cd7ee","block_type":"box","text":"Distributions on","page_number":62,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"67b3e0b4-57ad-4b01-a314-435c020485cb","block_type":"box","text":"accumulation shares","page_number":62,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"630fded9-c8fa-4646-b7bd-98bd945838f9","block_type":"box","text":"(1.33)","page_number":62,"box":{"x":233,"y":303,"width":30,"height":8}},{"id":"5daebc56-c1c9-4dd6-a1ee-dd7197f9e094","block_type":"box","text":"(3.20)","page_number":62,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"09b8d735-a723-45e0-aabf-c68ad93caac1","block_type":"box","text":"(3.47)","page_number":62,"box":{"x":376,"y":303,"width":29,"height":8}},{"id":"54cb2610-d4b8-4df2-831d-cd16dfafc56d","block_type":"box","text":"(1.83)","page_number":62,"box":{"x":448,"y":303,"width":29,"height":8}},{"id":"eacc6aa6-952d-4fe5-bf58-223f7cd83978","block_type":"box","text":"Retained distributions","page_number":62,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"b0396939-2ef8-49b0-ab27-8208c448fd5c","block_type":"box","text":"on accumulation shares","page_number":62,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"a40a6749-8ea7-4288-a66a-f71152d92974","block_type":"box","text":"1.33","page_number":62,"box":{"x":237,"y":330,"width":21,"height":6}},{"id":"0ea093f2-e9b0-4436-944e-10782bdfe609","block_type":"box","text":"3.20","page_number":62,"box":{"x":307,"y":330,"width":23,"height":6}},{"id":"d4c238ef-4e8b-4b3a-8787-ca62c74128ec","block_type":"box","text":"3.47","page_number":62,"box":{"x":379,"y":330,"width":22,"height":6}},{"id":"04926017-7eb9-430a-a618-e05669b74783","block_type":"box","text":"1.83","page_number":62,"box":{"x":451,"y":330,"width":22,"height":6}},{"id":"a1caa5d2-eaa6-44ee-be05-cb458b08f62a","block_type":"box","text":"Closing net asset","page_number":62,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"b4abfae5-1ff4-4eaf-88fa-6736c0804809","block_type":"box","text":"value per share","page_number":62,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"c1e53c62-fa51-4002-8208-4e2ccd45666a","block_type":"box","text":"130.78","page_number":62,"box":{"x":224,"y":357,"width":34,"height":6}},{"id":"c06b8332-d77c-463d-b72f-980c45feb4fa","block_type":"box","text":"121.78","page_number":62,"box":{"x":296,"y":357,"width":34,"height":6}},{"id":"d34da15c-79cc-4d32-b4ec-340fc95e676d","block_type":"box","text":"113.44","page_number":62,"box":{"x":367,"y":357,"width":35,"height":6}},{"id":"7f29f21e-0e43-43c3-976b-a43e545ef677","block_type":"box","text":"107.62","page_number":62,"box":{"x":439,"y":357,"width":34,"height":6}},{"id":"48c17095-71d2-4556-9e1b-393cfd9ef741","block_type":"box","text":"* after direct transaction","page_number":62,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"610f97e2-a681-4496-aaf5-f4b9843a50a8","block_type":"box","text":"costs of:","page_number":62,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"3cc8f1b5-d0f9-4904-8b58-1f4045b49f1b","block_type":"box","text":"0.03","page_number":62,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"c80637ef-b5c7-43a2-9801-6a138a8cb880","block_type":"box","text":"0.05","page_number":62,"box":{"x":307,"y":385,"width":23,"height":6}},{"id":"2d763ac0-f98c-415e-80e8-a509750124de","block_type":"box","text":"0.08","page_number":62,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"a5de894c-1125-4997-a205-b3c29c4d89ce","block_type":"box","text":"0.07","page_number":62,"box":{"x":451,"y":385,"width":22,"height":6}},{"id":"567d0c0e-17b2-48f9-a0dd-61563823cb65","block_type":"box","text":"Performance","page_number":62,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"d1a06d8a-6011-42d7-8bb4-246c5151fa1e","block_type":"box","text":"Return after charges","page_number":62,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"b3de95cc-4dbc-4752-9211-976d79c3fe9c","block_type":"box","text":"7.39%","page_number":62,"box":{"x":226,"y":419,"width":32,"height":7}},{"id":"51b3a326-8247-4781-b545-9549cb4bc841","block_type":"box","text":"7.35%","page_number":62,"box":{"x":298,"y":419,"width":32,"height":7}},{"id":"b0024444-6ffb-4644-bde2-1e51bd53b848","block_type":"box","text":"5.41%","page_number":62,"box":{"x":370,"y":419,"width":31,"height":7}},{"id":"afba56d7-6f77-4332-8f38-7438614d015b","block_type":"box","text":"7.29%","page_number":62,"box":{"x":441,"y":419,"width":32,"height":7}},{"id":"047318c5-e76a-479c-ab4b-60f298d3841c","block_type":"box","text":"Other information","page_number":62,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"e1269462-10f8-4720-83ce-494fc952ef30","block_type":"box","text":"Closing net asset value","page_number":62,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"7bf63922-33eb-4542-9a9d-dbffd2df0c76","block_type":"box","text":"(£’000)","page_number":62,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"4d15a08a-e199-4f90-8f79-516463e0550d","block_type":"box","text":"328","page_number":62,"box":{"x":240,"y":447,"width":19,"height":6}},{"id":"e01e5212-e1b6-4f61-8280-2c9b108f5a9e","block_type":"box","text":"296","page_number":62,"box":{"x":310,"y":447,"width":20,"height":6}},{"id":"c3ce1456-d07a-4c0a-9170-a60b935948c2","block_type":"box","text":"252","page_number":62,"box":{"x":382,"y":447,"width":19,"height":6}},{"id":"f14c75b7-59ba-4b10-a6fa-5b12090c9678","block_type":"box","text":"489","page_number":62,"box":{"x":453,"y":447,"width":20,"height":6}},{"id":"62dabe2c-bd12-4479-a0d7-9a349f8e6e96","block_type":"box","text":"Closing number of","page_number":62,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"77253382-98f6-4de4-84eb-9e6105732eec","block_type":"box","text":"shares","page_number":62,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"1f714124-d8c4-4609-871b-1632fc82ff9d","block_type":"box","text":"251,181","page_number":62,"box":{"x":221,"y":466,"width":36,"height":7}},{"id":"a9abfb48-d1ce-451a-a32a-e25a06312be0","block_type":"box","text":"243,301","page_number":62,"box":{"x":290,"y":466,"width":38,"height":7}},{"id":"c5e2677f-7b7c-4870-a695-9a3a5ed96885","block_type":"box","text":"222,647","page_number":62,"box":{"x":361,"y":466,"width":40,"height":7}},{"id":"f0d5ed8f-b76d-4bd0-b3a4-add71529eeb2","block_type":"box","text":"454,116","page_number":62,"box":{"x":435,"y":466,"width":38,"height":7}},{"id":"edeaf50e-eaa1-4477-8808-dc898d7381a0","block_type":"box","text":"Operating charges","page_number":62,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"7fd8462d-171a-4c72-b146-c3539c3b0fc1","block_type":"box","text":"0.55%","page_number":62,"box":{"x":225,"y":485,"width":33,"height":6}},{"id":"28ed5570-8057-44bb-a3fa-d13d2895006b","block_type":"box","text":"0.55%","page_number":62,"box":{"x":297,"y":485,"width":33,"height":6}},{"id":"495ee8ff-5203-4fe9-b090-adb4463a2f66","block_type":"box","text":"0.55%","page_number":62,"box":{"x":368,"y":485,"width":33,"height":6}},{"id":"00c26479-3f03-4711-9754-5616148f98b4","block_type":"box","text":"0.55%","page_number":62,"box":{"x":440,"y":485,"width":33,"height":6}},{"id":"dc8f510f-3139-470f-8b10-af709ac58bba","block_type":"box","text":"Direct transaction costs","page_number":62,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"66230c34-7ad5-4671-a430-11ae91c7d31b","block_type":"box","text":"0.02%","page_number":62,"box":{"x":226,"y":495,"width":32,"height":6}},{"id":"69ae8b5d-2edc-4c14-bac7-e6637078535f","block_type":"box","text":"0.04%","page_number":62,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"90f48de2-a30a-488e-b093-5de50a94bd5f","block_type":"box","text":"0.07%","page_number":62,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"e959520b-00a2-4cf3-b7e8-47dee109d020","block_type":"box","text":"0.07%","page_number":62,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"d7edbe8f-d672-40ad-918d-be90653fcb47","block_type":"box","text":"Prices","page_number":62,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"93dfab81-3950-419f-944c-cf9c570714d3","block_type":"box","text":"^","page_number":62,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"66346c6c-2d93-4059-a0da-3b75dd784714","block_type":"box","text":"Highest share price","page_number":62,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"f4dc6b27-e3ad-4913-8d30-05d47333ab23","block_type":"box","text":"132.10","page_number":62,"box":{"x":225,"y":522,"width":33,"height":6}},{"id":"a7faa16d-9c18-4fb8-a672-92bd070cfb97","block_type":"box","text":"122.10","page_number":62,"box":{"x":297,"y":522,"width":33,"height":6}},{"id":"b4bf7c05-1eef-4eeb-b103-73afc96a0cb8","block_type":"box","text":"114.30","page_number":62,"box":{"x":368,"y":522,"width":33,"height":6}},{"id":"f1d38e1d-e8ae-4350-97d3-2c441ee94ef2","block_type":"box","text":"107.60","page_number":62,"box":{"x":439,"y":522,"width":34,"height":6}},{"id":"3367ee11-f186-4819-9c59-d95cea61a0e6","block_type":"box","text":"Lowest share price","page_number":62,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"67ced6ad-4109-452e-b7fe-6b84d909d235","block_type":"box","text":"122.40","page_number":62,"box":{"x":224,"y":532,"width":34,"height":6}},{"id":"3e9b749f-b883-41bf-aca8-5f1662690c35","block_type":"box","text":"109.10","page_number":62,"box":{"x":296,"y":532,"width":34,"height":6}},{"id":"a90b4138-b0c1-4e9b-b6ea-661e86b827e7","block_type":"box","text":"105.90","page_number":62,"box":{"x":366,"y":532,"width":35,"height":6}},{"id":"8fe5fd17-db7b-413f-b35d-fa447b1549a8","block_type":"box","text":"99.75","page_number":62,"box":{"x":444,"y":532,"width":29,"height":6}},{"id":"c8cb3eda-c05b-4c60-8c6d-7da3c2c1e4b1","block_type":"box","text":"Class M Income","page_number":62,"box":{"x":57,"y":560,"width":146,"height":9}},{"id":"e68ccee6-79b9-4b50-93d4-553798d83ff5","block_type":"box","text":"Change in net assets","page_number":62,"box":{"x":57,"y":586,"width":120,"height":8}},{"id":"4dd025d0-90d8-46f8-a2be-f2697855b86b","block_type":"box","text":"30/06/26","page_number":62,"box":{"x":212,"y":586,"width":47,"height":6}},{"id":"42b4111c-7d8b-4dab-9115-c2577cb1d5b0","block_type":"box","text":"31/12/25","page_number":62,"box":{"x":285,"y":586,"width":45,"height":6}},{"id":"f74c2716-89a4-4070-802b-94019cf6270a","block_type":"box","text":"31/12/24","page_number":62,"box":{"x":356,"y":586,"width":46,"height":6}},{"id":"4912572e-bbe3-4afd-8ad4-cb8eec189db5","block_type":"box","text":"31/12/23","page_number":62,"box":{"x":428,"y":586,"width":45,"height":6}},{"id":"10b59b98-4051-4a33-901d-bff2e426ee45","block_type":"box","text":"per share","page_number":62,"box":{"x":57,"y":595,"width":54,"height":8}},{"id":"f3681b12-2cdc-4346-adba-710cb2cc5dbc","block_type":"box","text":"(p)","page_number":62,"box":{"x":245,"y":595,"width":13,"height":8}},{"id":"f16b40b1-b796-434f-8f6e-da349a285cab","block_type":"box","text":"(p)","page_number":62,"box":{"x":316,"y":595,"width":14,"height":8}},{"id":"4557243c-3bc5-4543-8441-6a6db8cf66d2","block_type":"box","text":"(p)","page_number":62,"box":{"x":387,"y":595,"width":14,"height":8}},{"id":"6057fa14-d50b-4a16-aa1e-4c8d2952f87e","block_type":"box","text":"(p)","page_number":62,"box":{"x":459,"y":595,"width":14,"height":8}},{"id":"07ccd34f-3335-4318-bd42-7e3f8e968926","block_type":"box","text":"Opening net asset","page_number":62,"box":{"x":57,"y":614,"width":97,"height":8}},{"id":"a5b8d219-4b0b-4ae9-994f-3b323dab91cb","block_type":"box","text":"value per share","page_number":62,"box":{"x":57,"y":624,"width":82,"height":7}},{"id":"370b3c79-60e6-4537-9150-fdc7a7a29d46","block_type":"box","text":"109.41","page_number":62,"box":{"x":224,"y":614,"width":33,"height":6}},{"id":"0820c557-8720-4156-b81a-16b3e8e71a18","block_type":"box","text":"104.75","page_number":62,"box":{"x":296,"y":614,"width":34,"height":6}},{"id":"eb4aa045-b4ad-4b30-9857-b49586a8717f","block_type":"box","text":"102.49","page_number":62,"box":{"x":366,"y":614,"width":35,"height":6}},{"id":"66ebcda6-8e9f-4cf2-87f2-b16c04032206","block_type":"box","text":"97.23","page_number":62,"box":{"x":445,"y":614,"width":28,"height":6}},{"id":"63eb2a14-7502-49e1-9add-82834ce3b1cc","block_type":"box","text":"Return before operating","page_number":62,"box":{"x":58,"y":641,"width":125,"height":8}},{"id":"c907fb57-2d68-4a4b-82be-aaf3daa6fca8","block_type":"box","text":"charges*","page_number":62,"box":{"x":57,"y":650,"width":47,"height":8}},{"id":"de026b1b-1d9b-4262-83f1-e6b4a58520f9","block_type":"box","text":"8.41","page_number":62,"box":{"x":237,"y":641,"width":20,"height":6}},{"id":"4ced6a2a-f327-420a-9ff6-d216a84120df","block_type":"box","text":"8.18","page_number":62,"box":{"x":309,"y":641,"width":21,"height":6}},{"id":"fa2fc6b6-4fed-4e31-b189-0a244cec5c78","block_type":"box","text":"6.11","page_number":62,"box":{"x":381,"y":641,"width":19,"height":6}},{"id":"ab7f7cf2-e5ae-43dc-8b7c-ecd450b57b36","block_type":"box","text":"7.57","page_number":62,"box":{"x":452,"y":641,"width":21,"height":6}},{"id":"e996acbd-ef74-49c5-b0f2-85f06774ab43","block_type":"box","text":"Operating charges","page_number":62,"box":{"x":57,"y":668,"width":99,"height":8}},{"id":"2ba0aa02-ae11-4fee-91d5-a10dea52bc8a","block_type":"box","text":"(0.31)","page_number":62,"box":{"x":233,"y":668,"width":30,"height":8}},{"id":"9e6ee0be-fd6c-490e-a89d-2959478a4397","block_type":"box","text":"(0.58)","page_number":62,"box":{"x":304,"y":668,"width":30,"height":8}},{"id":"21ddd847-206b-425e-9f83-39604c57a4ad","block_type":"box","text":"(0.58)","page_number":62,"box":{"x":375,"y":668,"width":30,"height":8}},{"id":"44b565e1-20a5-497a-876f-24deb87e933e","block_type":"box","text":"(0.55)","page_number":62,"box":{"x":447,"y":668,"width":30,"height":8}},{"id":"85aa9b74-efb6-4c09-b48b-ef57c8812b2c","block_type":"box","text":"Return after operating","page_number":62,"box":{"x":58,"y":685,"width":116,"height":8}},{"id":"56b6cc42-c7e0-40e0-a997-4a700203cac1","block_type":"box","text":"charges*","page_number":62,"box":{"x":57,"y":695,"width":47,"height":8}},{"id":"d57f8208-629b-47ce-836b-c71674979159","block_type":"box","text":"8.10","page_number":62,"box":{"x":237,"y":686,"width":21,"height":6}},{"id":"cb9fc011-9ff1-4f20-adf1-3d5b68f56cf7","block_type":"box","text":"7.60","page_number":62,"box":{"x":309,"y":686,"width":21,"height":6}},{"id":"c9221a21-fac5-442c-935f-048e20e0307f","block_type":"box","text":"5.53","page_number":62,"box":{"x":379,"y":686,"width":22,"height":6}},{"id":"67ff0159-075b-4137-aedd-c1e55a9d7543","block_type":"box","text":"7.02","page_number":62,"box":{"x":452,"y":686,"width":21,"height":6}},{"id":"531fc79f-d16c-4eb0-908b-2af2552bf819","block_type":"box","text":"Distributions on income","page_number":62,"box":{"x":58,"y":713,"width":124,"height":6}},{"id":"795bc282-2670-4f06-b73b-d0028a1f312f","block_type":"box","text":"shares","page_number":62,"box":{"x":57,"y":722,"width":35,"height":6}},{"id":"40d94942-3342-4516-9ea8-31fa78f22730","block_type":"box","text":"(1.20)","page_number":62,"box":{"x":233,"y":712,"width":30,"height":8}},{"id":"71cbbac1-b6a6-404e-b7a9-5a50bf84e8a0","block_type":"box","text":"(2.94)","page_number":62,"box":{"x":304,"y":712,"width":30,"height":8}},{"id":"f3eac275-31bb-4f59-8fa7-c93e07d20610","block_type":"box","text":"(3.27)","page_number":62,"box":{"x":375,"y":712,"width":30,"height":8}},{"id":"0517215f-eb35-4929-a772-35aacf0cbd6c","block_type":"box","text":"(1.76)","page_number":62,"box":{"x":448,"y":712,"width":29,"height":8}},{"id":"be5f0470-c2cb-4820-9e91-fbe694cdb80f","block_type":"box","text":"Closing net asset","page_number":62,"box":{"x":57,"y":739,"width":100,"height":8}},{"id":"17611769-d9c2-41d3-87d7-11cd43d62da4","block_type":"box","text":"value per share","page_number":62,"box":{"x":57,"y":749,"width":88,"height":8}},{"id":"67d055b4-7100-4a93-a134-76550253ab40","block_type":"box","text":"116.31","page_number":62,"box":{"x":224,"y":740,"width":33,"height":6}},{"id":"d2e693a8-69e0-41ca-b76c-685994667cda","block_type":"box","text":"109.41","page_number":62,"box":{"x":295,"y":740,"width":34,"height":6}},{"id":"997329ff-a222-4869-9575-b76b8656645a","block_type":"box","text":"104.75","page_number":62,"box":{"x":367,"y":740,"width":35,"height":6}},{"id":"967d4904-22cd-4011-8d14-21e04ed56de0","block_type":"box","text":"102.49","page_number":62,"box":{"x":437,"y":740,"width":36,"height":6}},{"id":"522beda0-f01e-4bcb-b739-2801589ff6ec","block_type":"box","text":"* after direct transaction","page_number":62,"box":{"x":57,"y":767,"width":127,"height":6}},{"id":"a94e4a2a-ac3a-4fba-b9e5-dcebac4cf7f8","block_type":"box","text":"costs of:","page_number":62,"box":{"x":57,"y":777,"width":44,"height":6}},{"id":"bae43955-5b60-4680-927c-963407894b22","block_type":"box","text":"0.02","page_number":62,"box":{"x":236,"y":767,"width":22,"height":6}},{"id":"11991b6e-daa6-413c-ad7a-c8886ecc09f3","block_type":"box","text":"0.05","page_number":62,"box":{"x":307,"y":767,"width":23,"height":6}},{"id":"58260cee-1d42-4412-b891-f80fe3280b82","block_type":"box","text":"0.07","page_number":62,"box":{"x":379,"y":767,"width":22,"height":6}},{"id":"28bdfb8c-fc9e-416c-ac74-e95370c45f50","block_type":"box","text":"0.07","page_number":62,"box":{"x":451,"y":767,"width":22,"height":6}},{"id":"c6196a79-e430-49ea-8853-3c85789c705a","block_type":"box","text":"Performance","page_number":62,"box":{"x":58,"y":792,"width":73,"height":6}},{"id":"4b41f60d-5028-4739-87d1-3e15ff7dd706","block_type":"box","text":"Return after charges","page_number":62,"box":{"x":58,"y":801,"width":108,"height":8}},{"id":"d9a1a1e7-751a-4a37-923f-26d458095113","block_type":"box","text":"7.40%","page_number":62,"box":{"x":227,"y":801,"width":31,"height":7}},{"id":"3f31143f-21b4-4113-a34c-4e41ecf82f4b","block_type":"box","text":"7.26%","page_number":62,"box":{"x":298,"y":801,"width":32,"height":7}},{"id":"6c966a93-0f05-48ce-bd8d-fdeea9f013e5","block_type":"box","text":"5.40%","page_number":62,"box":{"x":368,"y":801,"width":33,"height":7}},{"id":"664d387c-6c21-48f6-a0f8-d6d02b446996","block_type":"box","text":"7.22%","page_number":62,"box":{"x":441,"y":801,"width":32,"height":7}},{"id":"68fd0df6-ef2b-4990-ae2c-de69e3fd8553","block_type":"box","text":"Other information","page_number":62,"box":{"x":57,"y":819,"width":102,"height":7}},{"id":"dc48f0f4-1637-4f08-a22d-523823f5ab6e","block_type":"box","text":"Closing net asset value","page_number":62,"box":{"x":57,"y":829,"width":123,"height":8}},{"id":"4c836add-8725-4611-a5d9-873c2e22042e","block_type":"box","text":"(£’000)","page_number":62,"box":{"x":57,"y":838,"width":37,"height":8}},{"id":"3a84e6ba-d759-4fbd-839d-66b05d47885f","block_type":"box","text":"335","page_number":62,"box":{"x":239,"y":829,"width":20,"height":6}},{"id":"698d0646-9166-44ea-8995-021a1b07717f","block_type":"box","text":"29","page_number":62,"box":{"x":317,"y":829,"width":13,"height":6}},{"id":"8e27b409-fce6-4f23-8cbe-28532fd48019","block_type":"box","text":"44","page_number":62,"box":{"x":389,"y":829,"width":12,"height":6}},{"id":"8f602db6-9fd0-416c-8b27-3413592e80c4","block_type":"box","text":"2,309","page_number":62,"box":{"x":443,"y":829,"width":30,"height":7}},{"id":"b55c42c8-aa7b-4d67-8a7b-036dfca931a7","block_type":"box","text":"Closing number of","page_number":62,"box":{"x":57,"y":848,"width":98,"height":8}},{"id":"c4c6b197-bb9a-43c8-bf6d-145548ced509","block_type":"box","text":"shares","page_number":62,"box":{"x":57,"y":857,"width":35,"height":6}},{"id":"2dbfbeb4-f507-4c1f-8b16-69aa7136d951","block_type":"box","text":"287,859","page_number":62,"box":{"x":220,"y":848,"width":39,"height":7}},{"id":"901db245-f668-4679-af94-e1857fd7ea00","block_type":"box","text":"26,580","page_number":62,"box":{"x":296,"y":848,"width":34,"height":7}},{"id":"7aa967c9-59c8-45cf-b29d-ecc9dd6e3bb8","block_type":"box","text":"42,072","page_number":62,"box":{"x":368,"y":848,"width":33,"height":7}},{"id":"5ce41aee-af2c-4881-8871-9d4cf2efff2a","block_type":"box","text":"2,253,133","page_number":62,"box":{"x":425,"y":848,"width":48,"height":7}},{"id":"9676690e-ec7a-4f6f-8c71-85a81e6a2f0e","block_type":"box","text":"Operating charges","page_number":62,"box":{"x":57,"y":867,"width":99,"height":8}},{"id":"7ca20358-ff0e-451e-bc82-614873edd200","block_type":"box","text":"0.55%","page_number":62,"box":{"x":225,"y":867,"width":33,"height":6}},{"id":"3dd08f73-2842-4581-afcc-d64a9793cafb","block_type":"box","text":"0.55%","page_number":62,"box":{"x":297,"y":867,"width":33,"height":6}},{"id":"d726c7c2-1c34-4b4b-af83-b3da74720161","block_type":"box","text":"0.55%","page_number":62,"box":{"x":368,"y":867,"width":33,"height":6}},{"id":"fbfd9eef-1ad2-4d78-b1d4-ea6fadd30485","block_type":"box","text":"0.55%","page_number":62,"box":{"x":440,"y":867,"width":33,"height":6}},{"id":"9d17fe7e-b0fa-48ab-92fa-d9f71cb888b4","block_type":"box","text":"Direct transaction costs","page_number":62,"box":{"x":58,"y":877,"width":125,"height":6}},{"id":"43026c17-f42b-4dbe-a229-6d20e9261ca6","block_type":"box","text":"0.02%","page_number":62,"box":{"x":226,"y":877,"width":32,"height":6}},{"id":"3859e147-ce33-4515-b345-8c0dccb7c6bd","block_type":"box","text":"0.04%","page_number":62,"box":{"x":297,"y":877,"width":33,"height":6}},{"id":"757370ad-5de8-4df9-b106-2f998901faa6","block_type":"box","text":"0.07%","page_number":62,"box":{"x":369,"y":877,"width":32,"height":6}},{"id":"e37173cc-90db-4d4a-ba33-d2261802d04c","block_type":"box","text":"0.07%","page_number":62,"box":{"x":440,"y":877,"width":33,"height":6}},{"id":"402f9b21-43ef-4d31-8dc5-9fc014cba094","block_type":"box","text":"Prices","page_number":62,"box":{"x":58,"y":895,"width":35,"height":6}},{"id":"889411ad-1980-4dec-874a-30d539d0371c","block_type":"box","text":"^","page_number":62,"box":{"x":94,"y":895,"width":3,"height":2}},{"id":"2f641b2e-a31b-4941-a336-38b7576a942e","block_type":"box","text":"Highest share price","page_number":62,"box":{"x":58,"y":904,"width":102,"height":8}},{"id":"9f16a2f1-0313-4762-87eb-dc0a08d299d5","block_type":"box","text":"118.70","page_number":62,"box":{"x":225,"y":904,"width":33,"height":6}},{"id":"c0fc0925-2566-49ad-b7d8-2fdb019b0870","block_type":"box","text":"111.30","page_number":62,"box":{"x":297,"y":904,"width":33,"height":6}},{"id":"0ca51a04-683a-4b73-8f25-543b95036154","block_type":"box","text":"107.90","page_number":62,"box":{"x":368,"y":904,"width":33,"height":6}},{"id":"4bf2e2cb-e58e-49dc-bdd2-37f422cd53bf","block_type":"box","text":"103.50","page_number":62,"box":{"x":438,"y":904,"width":35,"height":6}},{"id":"aa9533e4-274e-40a0-b5a4-c8554523e5e3","block_type":"box","text":"Lowest share price","page_number":62,"box":{"x":58,"y":914,"width":99,"height":8}},{"id":"9df9cb3e-2eb9-4cce-9fed-59ebba67e3d2","block_type":"box","text":"110.00","page_number":62,"box":{"x":225,"y":914,"width":33,"height":6}},{"id":"071c1ca2-7618-4432-8df0-56c672cb8650","block_type":"box","text":"100.80","page_number":62,"box":{"x":295,"y":914,"width":35,"height":6}},{"id":"d107e86e-ea90-42d6-bcab-f27fee9c4ae7","block_type":"box","text":"100.90","page_number":62,"box":{"x":366,"y":914,"width":35,"height":6}},{"id":"6e77636e-6e2a-4e7f-8f7f-fb0abd2ffcf2","block_type":"box","text":"96.68","page_number":62,"box":{"x":443,"y":914,"width":30,"height":6}},{"id":"2461d3f1-4222-464f-8dfc-1fdaafef0e38","block_type":"box","text":"Class R Accumulation","page_number":62,"box":{"x":522,"y":151,"width":202,"height":9}},{"id":"a92afc1a-a0c0-48ae-9e46-a8b82b8ed948","block_type":"box","text":"Change in net assets","page_number":62,"box":{"x":521,"y":177,"width":120,"height":7}},{"id":"0f637a5c-d9bc-4ca4-a67f-537acf181dcf","block_type":"box","text":"30/06/26","page_number":62,"box":{"x":676,"y":177,"width":47,"height":6}},{"id":"6cec4824-5b62-4ccd-a4df-d81697c7feb5","block_type":"box","text":"31/12/25","page_number":62,"box":{"x":749,"y":177,"width":45,"height":6}},{"id":"f3b5dbe5-c021-4b76-9402-dbda1a66ad45","block_type":"box","text":"31/12/24","page_number":62,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"9b233700-ac0b-4332-9c51-a0cb10c235f2","block_type":"box","text":"31/12/23","page_number":62,"box":{"x":892,"y":177,"width":45,"height":6}},{"id":"92cd1f85-488d-4442-b136-0a1bdc477bab","block_type":"box","text":"per share","page_number":62,"box":{"x":522,"y":186,"width":53,"height":8}},{"id":"07d9c460-6da0-4484-8d54-8f104df6f4af","block_type":"box","text":"(p)","page_number":62,"box":{"x":709,"y":186,"width":14,"height":8}},{"id":"362e7276-42c0-4700-a6ef-198b3104861f","block_type":"box","text":"(p)","page_number":62,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"976c70e9-5dfd-40b7-9422-a5f0409a209b","block_type":"box","text":"(p)","page_number":62,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"6fa85cfc-67e7-405b-90a6-d9ee6ea19e6a","block_type":"box","text":"(p)","page_number":62,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"5d66ad7c-9a70-4b4d-8c72-ea466ee97a3e","block_type":"box","text":"Opening net asset","page_number":62,"box":{"x":521,"y":205,"width":97,"height":8}},{"id":"f10e0e86-bd9c-489a-849f-587a85b2a9e6","block_type":"box","text":"value per share","page_number":62,"box":{"x":521,"y":214,"width":82,"height":8}},{"id":"5f53c493-1e38-4506-8c3b-2d3d33874e53","block_type":"box","text":"125.72","page_number":62,"box":{"x":689,"y":205,"width":34,"height":6}},{"id":"1ac5ad0a-2252-47fb-8b99-0f249bb00398","block_type":"box","text":"116.59","page_number":62,"box":{"x":760,"y":205,"width":34,"height":6}},{"id":"5c91e89c-3f29-4a2c-849c-5799d037784e","block_type":"box","text":"110.09","page_number":62,"box":{"x":832,"y":205,"width":34,"height":6}},{"id":"3227cd4d-d703-46a2-a522-b2d43423e1ed","block_type":"box","text":"102.15","page_number":62,"box":{"x":904,"y":205,"width":33,"height":6}},{"id":"8c734a1c-8ca5-4cef-b1e2-d3cb92afc35c","block_type":"box","text":"Return before operating","page_number":62,"box":{"x":522,"y":232,"width":126,"height":8}},{"id":"5094a405-b3be-4b12-b595-dab9112ddf91","block_type":"box","text":"charges*","page_number":62,"box":{"x":521,"y":241,"width":47,"height":8}},{"id":"2af263de-7d14-444a-b1ea-45a60086c4ef","block_type":"box","text":"9.67","page_number":62,"box":{"x":701,"y":232,"width":22,"height":6}},{"id":"1c368399-0143-4f0e-a0ca-c968a4b458ff","block_type":"box","text":"9.25","page_number":62,"box":{"x":772,"y":232,"width":22,"height":6}},{"id":"c4c9b468-2b50-4ebc-b863-5f718d96deb1","block_type":"box","text":"6.61","page_number":62,"box":{"x":843,"y":232,"width":21,"height":6}},{"id":"78b4aec2-9535-48a1-afb6-f753f14e49ee","block_type":"box","text":"8.04","page_number":62,"box":{"x":914,"y":232,"width":23,"height":6}},{"id":"ab348358-9443-4bdb-94a7-3349363191c3","block_type":"box","text":"Operating charges","page_number":62,"box":{"x":521,"y":259,"width":99,"height":8}},{"id":"91b37563-2be2-4e29-b7d8-f8e8fef5ac14","block_type":"box","text":"(0.07)","page_number":62,"box":{"x":697,"y":259,"width":30,"height":8}},{"id":"d623c882-407e-44d8-9b80-dc209164a89e","block_type":"box","text":"(0.12)","page_number":62,"box":{"x":770,"y":259,"width":28,"height":8}},{"id":"3b09ae2a-7132-4b46-9bbe-f51787b58f28","block_type":"box","text":"(0.11)","page_number":62,"box":{"x":842,"y":259,"width":28,"height":8}},{"id":"f560ac94-187e-44e5-9cda-2f7e12fc7231","block_type":"box","text":"(0.10)","page_number":62,"box":{"x":913,"y":259,"width":28,"height":8}},{"id":"9a763795-ede5-4fd8-8c7c-b9b95bdc92fe","block_type":"box","text":"Return after operating","page_number":62,"box":{"x":522,"y":276,"width":116,"height":8}},{"id":"ae646ae0-26cc-4300-85f3-32444c74270e","block_type":"box","text":"charges*","page_number":62,"box":{"x":521,"y":286,"width":47,"height":8}},{"id":"05c0e0a1-2c51-4703-969e-526b23ecda78","block_type":"box","text":"9.60","page_number":62,"box":{"x":700,"y":276,"width":23,"height":6}},{"id":"0225f0b3-f81f-44c4-9139-096c2a21d4d9","block_type":"box","text":"9.13","page_number":62,"box":{"x":773,"y":276,"width":21,"height":6}},{"id":"ffd50e71-b07e-43b5-85df-232cbf5f36f0","block_type":"box","text":"6.50","page_number":62,"box":{"x":843,"y":276,"width":23,"height":6}},{"id":"44ee7e60-f52e-49ae-8e14-0fa62455e3b3","block_type":"box","text":"7.94","page_number":62,"box":{"x":916,"y":276,"width":21,"height":6}},{"id":"4f712a9b-31a7-41ef-b733-9d6a0d7027dc","block_type":"box","text":"Distributions on","page_number":62,"box":{"x":522,"y":303,"width":82,"height":6}},{"id":"73c104ba-a08b-45f7-9a2d-f38f4373816b","block_type":"box","text":"accumulation shares","page_number":62,"box":{"x":521,"y":313,"width":110,"height":6}},{"id":"74575439-5dca-4777-b9d7-0dbdde2bd926","block_type":"box","text":"(1.67)","page_number":62,"box":{"x":698,"y":303,"width":29,"height":8}},{"id":"1fa806fb-fede-4be6-96fc-69259b21d213","block_type":"box","text":"(3.83)","page_number":62,"box":{"x":768,"y":303,"width":30,"height":8}},{"id":"f7839095-aabc-4481-a9a0-f56be94c636c","block_type":"box","text":"(4.08)","page_number":62,"box":{"x":840,"y":303,"width":30,"height":8}},{"id":"17824ccb-bcc1-49c3-a641-d42d29e14568","block_type":"box","text":"(2.34)","page_number":62,"box":{"x":911,"y":303,"width":30,"height":8}},{"id":"02515776-5410-4baf-8574-c9f85b11b575","block_type":"box","text":"Retained distributions","page_number":62,"box":{"x":522,"y":330,"width":115,"height":6}},{"id":"d925896d-8176-4115-a940-9b2fa974cb38","block_type":"box","text":"on accumulation shares","page_number":62,"box":{"x":521,"y":340,"width":127,"height":6}},{"id":"1a771f31-5335-440f-8ab0-78844f1c09b9","block_type":"box","text":"1.67","page_number":62,"box":{"x":702,"y":330,"width":21,"height":6}},{"id":"4cfdcceb-c268-49ef-9141-aba7a1e64928","block_type":"box","text":"3.83","page_number":62,"box":{"x":772,"y":330,"width":22,"height":6}},{"id":"01ddab05-9d65-470c-bf9d-2d4b47ff0fb3","block_type":"box","text":"4.08","page_number":62,"box":{"x":843,"y":330,"width":23,"height":6}},{"id":"d4113bd0-0217-432e-9303-c17c3e88907e","block_type":"box","text":"2.34","page_number":62,"box":{"x":914,"y":330,"width":23,"height":6}},{"id":"8d10c050-fa54-480b-a4d9-228282c7ec1f","block_type":"box","text":"Closing net asset","page_number":62,"box":{"x":521,"y":357,"width":100,"height":8}},{"id":"fe3fba1d-c584-4e68-8bef-d9c093cb3ec2","block_type":"box","text":"value per share","page_number":62,"box":{"x":521,"y":367,"width":88,"height":8}},{"id":"a25a42fd-d9bc-45a1-ab5f-9eded325df70","block_type":"box","text":"135.32","page_number":62,"box":{"x":688,"y":357,"width":35,"height":6}},{"id":"369ceecc-841f-4475-a558-d4027fc764d6","block_type":"box","text":"125.72","page_number":62,"box":{"x":759,"y":357,"width":35,"height":6}},{"id":"537cabec-5e72-4171-9196-d674dc27ac80","block_type":"box","text":"116.59","page_number":62,"box":{"x":831,"y":357,"width":35,"height":6}},{"id":"c25061d8-a6c4-43fc-bbb7-a9c2f0d50558","block_type":"box","text":"110.09","page_number":62,"box":{"x":903,"y":357,"width":34,"height":6}},{"id":"4ed87dc2-df70-4cbd-8e5e-dd01f4e349b5","block_type":"box","text":"* after direct transaction","page_number":62,"box":{"x":521,"y":385,"width":127,"height":6}},{"id":"6898b588-b53a-4af7-a6ce-1f2d1045e599","block_type":"box","text":"costs of:","page_number":62,"box":{"x":521,"y":394,"width":44,"height":7}},{"id":"8f4be69f-d119-4d68-bf43-0bc4e4f7d9ca","block_type":"box","text":"0.03","page_number":62,"box":{"x":700,"y":385,"width":23,"height":6}},{"id":"8ae36445-8b2e-42c6-a8d0-086e465239ed","block_type":"box","text":"0.05","page_number":62,"box":{"x":772,"y":385,"width":22,"height":6}},{"id":"80527f78-3777-4396-ba45-f63276038b28","block_type":"box","text":"0.08","page_number":62,"box":{"x":843,"y":385,"width":23,"height":6}},{"id":"893f8286-baca-4c90-a4d1-861a50353235","block_type":"box","text":"0.07","page_number":62,"box":{"x":915,"y":385,"width":22,"height":6}},{"id":"f89efcca-c7ac-4714-b251-5f5809ded513","block_type":"box","text":"Performance","page_number":62,"box":{"x":522,"y":410,"width":73,"height":6}},{"id":"2ac25284-5eab-4aa4-b357-03b6bc2207a0","block_type":"box","text":"Return after charges","page_number":62,"box":{"x":522,"y":419,"width":109,"height":8}},{"id":"02ff7e32-edf1-453e-a999-e42e40a52339","block_type":"box","text":"7.64%","page_number":62,"box":{"x":691,"y":419,"width":32,"height":7}},{"id":"2a70a4a0-51c1-4086-94cb-572eab8554c3","block_type":"box","text":"7.83%","page_number":62,"box":{"x":762,"y":419,"width":32,"height":7}},{"id":"67bef3e2-b0f8-4dc0-890a-fd1bc9abc66e","block_type":"box","text":"5.90%","page_number":62,"box":{"x":832,"y":419,"width":33,"height":7}},{"id":"67034698-1cc3-4359-a573-03ce2da28cee","block_type":"box","text":"7.77%","page_number":62,"box":{"x":905,"y":419,"width":32,"height":7}},{"id":"1d81ff30-1260-47dc-a452-0b85dcea4b32","block_type":"box","text":"Other information","page_number":62,"box":{"x":521,"y":437,"width":102,"height":6}},{"id":"2788b147-16c6-4ac8-abb4-55334310f161","block_type":"box","text":"Closing net asset value","page_number":62,"box":{"x":522,"y":447,"width":123,"height":8}},{"id":"1cb06aba-ec38-45ef-8be9-9aeb4f080a5f","block_type":"box","text":"(£’000)","page_number":62,"box":{"x":522,"y":456,"width":37,"height":8}},{"id":"3924c40d-b559-44fa-b630-e8723dfb2a06","block_type":"box","text":"849,042","page_number":62,"box":{"x":680,"y":447,"width":43,"height":7}},{"id":"2124d662-48ee-4ba8-b442-cf2dff3cdc62","block_type":"box","text":"797,440","page_number":62,"box":{"x":753,"y":447,"width":41,"height":7}},{"id":"be68317a-0536-469e-b9a1-ec44bd85eb0e","block_type":"box","text":"780,723","page_number":62,"box":{"x":824,"y":447,"width":42,"height":7}},{"id":"9bff01e2-5e0a-48fc-947f-3e80321e1ce8","block_type":"box","text":"772,238","page_number":62,"box":{"x":894,"y":447,"width":43,"height":7}},{"id":"7aeac7cf-7a5c-4cb9-96da-b7fe20d5946a","block_type":"box","text":"Closing number of","page_number":62,"box":{"x":522,"y":466,"width":97,"height":7}},{"id":"4d5bee71-0b43-48c7-be7c-4cd1bd066e26","block_type":"box","text":"shares","page_number":62,"box":{"x":521,"y":475,"width":36,"height":6}},{"id":"254263a0-79e4-4ff9-be33-cdc05be20f65","block_type":"box","text":"627,432,066","page_number":62,"box":{"x":662,"y":466,"width":61,"height":7}},{"id":"d951e1f1-2a56-4941-8343-f0aaf2dbec2f","block_type":"box","text":"634,302,581","page_number":62,"box":{"x":732,"y":466,"width":61,"height":7}},{"id":"07a4c12a-d071-492d-b7be-8904568e377f","block_type":"box","text":"669,635,703","page_number":62,"box":{"x":804,"y":466,"width":62,"height":7}},{"id":"71c21d19-d8f5-4318-baad-e286783f256c","block_type":"box","text":"701,474,564","page_number":62,"box":{"x":877,"y":466,"width":60,"height":7}},{"id":"f91d7c63-bfec-4418-9fd9-b407f0dbec77","block_type":"box","text":"Operating charges","page_number":62,"box":{"x":521,"y":485,"width":99,"height":7}},{"id":"4aec72bb-e375-4304-b25b-49a5bec6fa4e","block_type":"box","text":"0.10%","page_number":62,"box":{"x":691,"y":485,"width":32,"height":6}},{"id":"d2f85331-d9bb-4e7d-b2e4-5cec6d7e35c0","block_type":"box","text":"0.10%","page_number":62,"box":{"x":763,"y":485,"width":31,"height":6}},{"id":"b65c544d-e22a-4af4-a4ee-b00f28ceedf1","block_type":"box","text":"0.10%","page_number":62,"box":{"x":834,"y":485,"width":31,"height":6}},{"id":"7427e4bb-eb78-4716-bcbf-f3bbc99cefa2","block_type":"box","text":"0.10%","page_number":62,"box":{"x":905,"y":485,"width":32,"height":6}},{"id":"6f12e90d-18cd-4600-8cd1-3896d1ce2c3c","block_type":"box","text":"Direct transaction costs","page_number":62,"box":{"x":522,"y":495,"width":125,"height":6}},{"id":"040522fe-17bb-4cb2-81c0-6c328f1c8d3d","block_type":"box","text":"0.02%","page_number":62,"box":{"x":690,"y":495,"width":33,"height":6}},{"id":"6c59f888-a05c-425d-800f-77e68a39ec6d","block_type":"box","text":"0.04%","page_number":62,"box":{"x":761,"y":495,"width":33,"height":6}},{"id":"8126dfd2-c57c-4cbc-9369-8dcb1f0f0e5f","block_type":"box","text":"0.07%","page_number":62,"box":{"x":833,"y":495,"width":32,"height":6}},{"id":"d608c46f-2047-4e14-b5d0-4b13f122ea1a","block_type":"box","text":"0.07%","page_number":62,"box":{"x":904,"y":495,"width":33,"height":6}},{"id":"2be40a05-fb74-48d7-b4d5-5f868a20ab1e","block_type":"box","text":"Prices","page_number":62,"box":{"x":522,"y":513,"width":35,"height":6}},{"id":"59a8b015-87f8-458a-aead-9f6cfec9c2d8","block_type":"box","text":"^","page_number":62,"box":{"x":558,"y":513,"width":3,"height":2}},{"id":"9ce6b8a0-3a8a-4333-8956-c2a7c86f3555","block_type":"box","text":"Highest share price","page_number":62,"box":{"x":522,"y":522,"width":103,"height":8}},{"id":"f033e5d1-6447-482d-9cc9-4759eb9eaa50","block_type":"box","text":"136.70","page_number":62,"box":{"x":689,"y":522,"width":34,"height":6}},{"id":"7b1b7f8e-caa4-4cbb-8e10-fffd0eab8314","block_type":"box","text":"126.10","page_number":62,"box":{"x":761,"y":522,"width":33,"height":6}},{"id":"46ab4d73-6ae9-4881-a99d-4cb182e7ad53","block_type":"box","text":"117.50","page_number":62,"box":{"x":833,"y":522,"width":33,"height":6}},{"id":"686dba28-099d-432a-9702-dca7713d5e0c","block_type":"box","text":"110.10","page_number":62,"box":{"x":905,"y":522,"width":32,"height":6}},{"id":"04ca361d-3752-410d-a395-4aa411ec7cdf","block_type":"box","text":"Lowest share price","page_number":62,"box":{"x":522,"y":532,"width":100,"height":8}},{"id":"b21d4b29-f9e4-45eb-b7a5-98266451b8b5","block_type":"box","text":"126.30","page_number":62,"box":{"x":688,"y":532,"width":35,"height":6}},{"id":"a35bc4dc-92b0-4ac7-81f8-d2e3e7ca03d5","block_type":"box","text":"112.30","page_number":62,"box":{"x":760,"y":532,"width":34,"height":6}},{"id":"46ebd6d1-f21d-472c-9245-f8bb671d9da2","block_type":"box","text":"108.40","page_number":62,"box":{"x":831,"y":532,"width":35,"height":6}},{"id":"7d014251-36d1-432e-b90c-5ecc282aaaba","block_type":"box","text":"101.70","page_number":62,"box":{"x":904,"y":532,"width":33,"height":6}},{"id":"1ae63c81-fa57-4156-92f3-ab4222a76227","block_type":"box","text":"Comparative Tables","page_number":62,"box":{"x":58,"y":94,"width":236,"height":14}},{"id":"e91bd12a-a4cb-49c4-8f32-cc676f652a92","block_type":"box","text":"Royal London Multi Asset Strategies Fund | Royal London Multi-Asset Funds ICVC","page_number":62,"box":{"x":475,"y":33,"width":438,"height":8}},{"id":"52e2f7bf-ff84-4ee9-9196-673a45c51125","block_type":"box","text":"62","page_number":62,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"fbe8b57e-1548-411c-b258-3b317eeeb575","block_type":"box","text":"Class S Accumulation","page_number":63,"box":{"x":57,"y":151,"width":202,"height":9}},{"id":"3fbb1a47-79e6-4b5a-8d13-a9de07e91feb","block_type":"box","text":"Change in net assets","page_number":63,"box":{"x":57,"y":177,"width":120,"height":7}},{"id":"f35d4250-ec96-48e1-b222-547025a6cd7c","block_type":"box","text":"30/06/26","page_number":63,"box":{"x":212,"y":177,"width":47,"height":6}},{"id":"a1312616-866a-4d24-a705-b46b83465c6e","block_type":"box","text":"31/12/25","page_number":63,"box":{"x":285,"y":177,"width":45,"height":6}},{"id":"456c6ef5-4124-4d18-a192-db0b0ad5f044","block_type":"box","text":"31/12/24","page_number":63,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"8790a26b-8561-44dd-b372-822e8d40064d","block_type":"box","text":"31/12/23","page_number":63,"box":{"x":428,"y":177,"width":45,"height":6}},{"id":"98a47037-b74a-40d1-bc4e-704a92f3d51b","block_type":"box","text":"per share","page_number":63,"box":{"x":57,"y":186,"width":54,"height":8}},{"id":"cd6cfbba-1a37-4f31-b20a-b850566472af","block_type":"box","text":"(p)","page_number":63,"box":{"x":245,"y":186,"width":13,"height":8}},{"id":"9d46842a-d22c-4ae1-b2cd-710406d92dc7","block_type":"box","text":"(p)","page_number":63,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"e81c3414-492b-4aa4-9180-ece767e637b2","block_type":"box","text":"(p)","page_number":63,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"59c92485-a1ad-4cda-a8ee-e9a48875952b","block_type":"box","text":"(p)","page_number":63,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"179a19ed-7931-4af2-a578-ff07403db3e7","block_type":"box","text":"Opening net asset","page_number":63,"box":{"x":57,"y":205,"width":97,"height":8}},{"id":"a20fa11f-a860-4991-824b-7e9f843a87c3","block_type":"box","text":"value per share","page_number":63,"box":{"x":57,"y":214,"width":82,"height":8}},{"id":"e3cb4799-ea7e-47dd-be85-e75225eb5050","block_type":"box","text":"123.54","page_number":63,"box":{"x":223,"y":205,"width":35,"height":6}},{"id":"fabd081c-1bec-4dd6-95c1-0fafc969a988","block_type":"box","text":"114.57","page_number":63,"box":{"x":296,"y":205,"width":34,"height":6}},{"id":"09ad06cc-5a0d-4e0e-a9e3-7d330993d4b9","block_type":"box","text":"108.18","page_number":63,"box":{"x":368,"y":205,"width":33,"height":6}},{"id":"34ba488a-dc3a-4897-a20d-85de2d7692e9","block_type":"box","text":"100.40","page_number":63,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"ee9e3be0-58f5-4d18-adc7-a2190c3e1f3f","block_type":"box","text":"Return before operating","page_number":63,"box":{"x":58,"y":232,"width":125,"height":8}},{"id":"7868d916-18b0-487b-b86f-ea6e9dcbfb51","block_type":"box","text":"charges*","page_number":63,"box":{"x":57,"y":241,"width":47,"height":8}},{"id":"0583a148-e8f3-4e26-9ef3-53885ccadf88","block_type":"box","text":"9.49","page_number":63,"box":{"x":236,"y":232,"width":22,"height":6}},{"id":"781528fc-fe48-4a23-9d21-79e63bace1ca","block_type":"box","text":"9.09","page_number":63,"box":{"x":307,"y":232,"width":23,"height":6}},{"id":"cdfdfcaf-968b-4f62-9f3f-4b95ec8a6ba4","block_type":"box","text":"6.50","page_number":63,"box":{"x":379,"y":232,"width":22,"height":6}},{"id":"f0e91fe6-5459-4410-af1d-9ddb6c8759cf","block_type":"box","text":"7.88","page_number":63,"box":{"x":451,"y":232,"width":22,"height":6}},{"id":"7191e6d8-e494-4bd8-827d-e9c2a486dbbb","block_type":"box","text":"Operating charges","page_number":63,"box":{"x":57,"y":259,"width":99,"height":8}},{"id":"77275496-1579-4961-8135-1cf48a241bbb","block_type":"box","text":"(0.06)","page_number":63,"box":{"x":232,"y":259,"width":31,"height":8}},{"id":"2db05f4d-ebb3-4e7e-ac36-f0943df4f0ae","block_type":"box","text":"(0.12)","page_number":63,"box":{"x":306,"y":259,"width":28,"height":8}},{"id":"cd758f5c-81fa-4e16-96d8-3242841031d9","block_type":"box","text":"(0.11)","page_number":63,"box":{"x":378,"y":259,"width":27,"height":8}},{"id":"389b2b49-afdd-4568-bb96-6b5ed238c9f2","block_type":"box","text":"(0.10)","page_number":63,"box":{"x":448,"y":259,"width":29,"height":8}},{"id":"ba91a631-0299-4f77-8a44-88d93b7eda38","block_type":"box","text":"Return after operating","page_number":63,"box":{"x":58,"y":276,"width":116,"height":8}},{"id":"c58e5d69-ea24-480d-8ca5-6494578e9c48","block_type":"box","text":"charges*","page_number":63,"box":{"x":57,"y":286,"width":47,"height":8}},{"id":"4469b0d4-eda0-4fad-a2e8-f6c202f0ebde","block_type":"box","text":"9.43","page_number":63,"box":{"x":236,"y":276,"width":22,"height":6}},{"id":"579fc40e-e784-4b73-8af7-0fce084982b3","block_type":"box","text":"8.97","page_number":63,"box":{"x":308,"y":276,"width":22,"height":6}},{"id":"03bd60b2-7777-416e-a5e0-147930b965a5","block_type":"box","text":"6.39","page_number":63,"box":{"x":379,"y":276,"width":22,"height":6}},{"id":"e432b4f4-b2de-46a1-ba1d-208eea01ce73","block_type":"box","text":"7.78","page_number":63,"box":{"x":452,"y":276,"width":21,"height":6}},{"id":"4d7a3375-78cb-4d63-8b85-6bc786028746","block_type":"box","text":"Distributions on","page_number":63,"box":{"x":58,"y":303,"width":82,"height":6}},{"id":"17a2ff3a-c7fe-4083-a4af-7397badd9b74","block_type":"box","text":"accumulation shares","page_number":63,"box":{"x":57,"y":313,"width":110,"height":6}},{"id":"d5a491a3-cdb0-4475-80a1-a662d983b84c","block_type":"box","text":"(1.64)","page_number":63,"box":{"x":233,"y":303,"width":30,"height":8}},{"id":"f0bb0554-54b2-411e-ad68-b8d13d3450df","block_type":"box","text":"(3.77)","page_number":63,"box":{"x":304,"y":303,"width":30,"height":8}},{"id":"88312855-9fc3-41a9-a5ff-2cc1ab2e5c2a","block_type":"box","text":"(4.01)","page_number":63,"box":{"x":376,"y":303,"width":29,"height":8}},{"id":"d1febd0b-063a-4980-842e-ff32c170c4fa","block_type":"box","text":"(2.30)","page_number":63,"box":{"x":447,"y":303,"width":30,"height":8}},{"id":"4e630bd6-a4a9-4572-a33b-8360f6115de5","block_type":"box","text":"Retained distributions","page_number":63,"box":{"x":58,"y":330,"width":115,"height":6}},{"id":"413417bd-753a-4fc7-8da8-d24762a17709","block_type":"box","text":"on accumulation shares","page_number":63,"box":{"x":57,"y":340,"width":127,"height":6}},{"id":"7c832906-20e1-4206-85f4-6b32252205db","block_type":"box","text":"1.64","page_number":63,"box":{"x":237,"y":330,"width":21,"height":6}},{"id":"33793538-f5da-4e4a-9e9f-c1a4a919d6b9","block_type":"box","text":"3.77","page_number":63,"box":{"x":308,"y":330,"width":22,"height":6}},{"id":"c3d320c9-2950-4f24-8b2b-b6694d0fba5d","block_type":"box","text":"4.01","page_number":63,"box":{"x":379,"y":330,"width":21,"height":6}},{"id":"1e341bc3-0dc6-4790-99c7-ff5c93ea0d2b","block_type":"box","text":"2.30","page_number":63,"box":{"x":450,"y":330,"width":23,"height":6}},{"id":"11db5e5a-02a3-4c01-821a-21c9b9bbad2b","block_type":"box","text":"Closing net asset","page_number":63,"box":{"x":57,"y":357,"width":100,"height":8}},{"id":"535ccedb-8bab-473f-8a37-cab230cb0aef","block_type":"box","text":"value per share","page_number":63,"box":{"x":57,"y":367,"width":88,"height":8}},{"id":"275ae4f4-684d-4db8-a90a-1a6ccb97ddb8","block_type":"box","text":"132.97","page_number":63,"box":{"x":223,"y":357,"width":36,"height":6}},{"id":"b4f305d1-e8de-40e4-a54f-e676aab800fa","block_type":"box","text":"123.54","page_number":63,"box":{"x":295,"y":357,"width":35,"height":6}},{"id":"08ee928f-997f-4294-8862-4dac8b445cf1","block_type":"box","text":"114.57","page_number":63,"box":{"x":367,"y":357,"width":34,"height":6}},{"id":"9d5a650d-cc29-4cbc-93aa-b23de921e110","block_type":"box","text":"108.18","page_number":63,"box":{"x":439,"y":357,"width":34,"height":6}},{"id":"1e0dd831-45be-477c-8717-37afa8edb6dc","block_type":"box","text":"* after direct transaction","page_number":63,"box":{"x":57,"y":385,"width":127,"height":6}},{"id":"998ad0ce-5207-41fd-aeb1-aad323cf2845","block_type":"box","text":"costs of:","page_number":63,"box":{"x":57,"y":394,"width":44,"height":7}},{"id":"d4c4a32d-55f8-481a-ac9f-3bd270a0633f","block_type":"box","text":"0.03","page_number":63,"box":{"x":236,"y":385,"width":22,"height":6}},{"id":"b59c187a-be9d-4d72-a598-0d185565c3d2","block_type":"box","text":"0.05","page_number":63,"box":{"x":307,"y":385,"width":23,"height":6}},{"id":"29e8c672-c684-4461-801f-b87b143af470","block_type":"box","text":"0.08","page_number":63,"box":{"x":379,"y":385,"width":22,"height":6}},{"id":"d377b4ec-6d92-4d76-8920-4758bb43bd8b","block_type":"box","text":"0.07","page_number":63,"box":{"x":451,"y":385,"width":22,"height":6}},{"id":"f10614b8-f34a-4d73-803f-516c3651a47f","block_type":"box","text":"Performance","page_number":63,"box":{"x":58,"y":410,"width":73,"height":6}},{"id":"d1e01d60-8089-4378-8acf-4fac72720b34","block_type":"box","text":"Return after charges","page_number":63,"box":{"x":58,"y":419,"width":108,"height":8}},{"id":"be094f9a-4662-4c90-899f-0feef42144b8","block_type":"box","text":"7.63%","page_number":63,"box":{"x":227,"y":419,"width":31,"height":7}},{"id":"b2d7294a-29f9-438e-944d-192a4c74a9cf","block_type":"box","text":"7.83%","page_number":63,"box":{"x":298,"y":419,"width":32,"height":7}},{"id":"0e6029e9-7767-4b72-9c5f-f754144b00ec","block_type":"box","text":"5.91%","page_number":63,"box":{"x":369,"y":419,"width":32,"height":7}},{"id":"62e700a1-e3b4-4a42-8379-2bf96c098a46","block_type":"box","text":"7.75%","page_number":63,"box":{"x":442,"y":419,"width":31,"height":7}},{"id":"2581e57a-31ee-4813-97db-6dce0d287505","block_type":"box","text":"Other information","page_number":63,"box":{"x":57,"y":437,"width":102,"height":6}},{"id":"a3922f9a-cf29-4843-a90e-2e7734c2befe","block_type":"box","text":"Closing net asset value","page_number":63,"box":{"x":57,"y":447,"width":123,"height":8}},{"id":"9ff7c143-6378-4e6b-9ab1-bc0e9030fa99","block_type":"box","text":"(£’000)","page_number":63,"box":{"x":57,"y":456,"width":37,"height":8}},{"id":"33ea5eab-b99b-4d5c-80ab-c06b206adfb2","block_type":"box","text":"89,223","page_number":63,"box":{"x":222,"y":447,"width":36,"height":7}},{"id":"418cbddf-114e-4ac1-96fb-2a236847651e","block_type":"box","text":"123,035","page_number":63,"box":{"x":288,"y":447,"width":42,"height":7}},{"id":"94c97225-86ea-4e1b-a034-b6544f772fa2","block_type":"box","text":"105,943","page_number":63,"box":{"x":359,"y":447,"width":42,"height":7}},{"id":"70056bb9-8346-409a-a7b3-44e3b94d0751","block_type":"box","text":"99,566","page_number":63,"box":{"x":436,"y":447,"width":37,"height":7}},{"id":"984e0ebe-e9f4-4214-ac4a-fd5caf8ba81f","block_type":"box","text":"Closing number of","page_number":63,"box":{"x":57,"y":466,"width":98,"height":7}},{"id":"f15e2756-a04d-47bd-b6fc-c10bc23fef18","block_type":"box","text":"shares","page_number":63,"box":{"x":57,"y":475,"width":35,"height":6}},{"id":"7b276d9e-db2b-4685-b36f-3bf44f798f58","block_type":"box","text":"67,099,231","page_number":63,"box":{"x":200,"y":466,"width":57,"height":7}},{"id":"dcae6666-f179-4e56-b3c2-044365aa0c12","block_type":"box","text":"99,589,083","page_number":63,"box":{"x":270,"y":466,"width":60,"height":7}},{"id":"995c3436-2ef3-4299-9af0-a9849d1ace0d","block_type":"box","text":"92,468,024","page_number":63,"box":{"x":342,"y":466,"width":59,"height":7}},{"id":"7746764f-c5fa-40fd-89b7-f05bba43da20","block_type":"box","text":"92,034,868","page_number":63,"box":{"x":413,"y":466,"width":60,"height":7}},{"id":"905fe8c6-c25c-459b-9e2a-32cd46c494c4","block_type":"box","text":"Operating charges","page_number":63,"box":{"x":57,"y":485,"width":99,"height":7}},{"id":"660d5ee2-c7c7-44c1-9bac-b70bfc713e30","block_type":"box","text":"0.10%","page_number":63,"box":{"x":227,"y":485,"width":31,"height":6}},{"id":"e94335d0-e97c-4408-ad02-dfe814d0e4c4","block_type":"box","text":"0.10%","page_number":63,"box":{"x":298,"y":485,"width":32,"height":6}},{"id":"2967a97a-4b57-4867-a675-f7645ea90ee7","block_type":"box","text":"0.10%","page_number":63,"box":{"x":370,"y":485,"width":31,"height":6}},{"id":"2bae1ce0-84b4-4415-8886-f73e034f7414","block_type":"box","text":"0.10%","page_number":63,"box":{"x":441,"y":485,"width":32,"height":6}},{"id":"75ef1986-ec94-45bc-8dd6-dc595d178491","block_type":"box","text":"Direct transaction costs","page_number":63,"box":{"x":58,"y":495,"width":125,"height":6}},{"id":"9e310af8-b1b6-43d8-8b8f-08b725223cdf","block_type":"box","text":"0.02%","page_number":63,"box":{"x":226,"y":495,"width":32,"height":6}},{"id":"3e69904d-e2cd-443b-b2a8-5be930693aa0","block_type":"box","text":"0.04%","page_number":63,"box":{"x":297,"y":495,"width":33,"height":6}},{"id":"1f1c6059-e0a9-4e71-bec3-536a9056015e","block_type":"box","text":"0.07%","page_number":63,"box":{"x":369,"y":495,"width":32,"height":6}},{"id":"099aa616-f889-401e-985e-c40d8e2b976c","block_type":"box","text":"0.07%","page_number":63,"box":{"x":440,"y":495,"width":33,"height":6}},{"id":"9acdff16-542d-4caa-9609-1fe77e5c1707","block_type":"box","text":"Prices","page_number":63,"box":{"x":58,"y":513,"width":35,"height":6}},{"id":"44e53874-64eb-4da7-9766-f75ed9111677","block_type":"box","text":"^","page_number":63,"box":{"x":94,"y":513,"width":3,"height":2}},{"id":"84eb38b0-2b3c-4f1e-8f53-4e4099ebebf1","block_type":"box","text":"Highest share price","page_number":63,"box":{"x":58,"y":522,"width":102,"height":8}},{"id":"3289b514-79ca-42d4-b84d-191572777cfe","block_type":"box","text":"134.30","page_number":63,"box":{"x":223,"y":522,"width":35,"height":6}},{"id":"70dc1668-66f4-48c0-9b16-64a35d3a9f12","block_type":"box","text":"123.90","page_number":63,"box":{"x":295,"y":522,"width":35,"height":6}},{"id":"6bad484c-b125-43cb-a84c-d0980304767f","block_type":"box","text":"115.50","page_number":63,"box":{"x":367,"y":522,"width":34,"height":6}},{"id":"8590792c-564e-4f41-9544-b9b6c2c04b16","block_type":"box","text":"108.17","page_number":63,"box":{"x":439,"y":522,"width":34,"height":6}},{"id":"4c2f2baa-38e7-4495-aa79-386e2c4b1e6d","block_type":"box","text":"Lowest share price","page_number":63,"box":{"x":58,"y":532,"width":99,"height":8}},{"id":"e79e4255-f04d-4b8a-9f65-ad1109976c4a","block_type":"box","text":"124.20","page_number":63,"box":{"x":224,"y":532,"width":34,"height":6}},{"id":"8cd47c07-fa7e-4d8b-bb05-fde5550ef7d4","block_type":"box","text":"110.30","page_number":63,"box":{"x":296,"y":532,"width":34,"height":6}},{"id":"e98fd795-4efb-4345-a4cc-7cbeaf578b0e","block_type":"box","text":"106.50","page_number":63,"box":{"x":366,"y":532,"width":35,"height":6}},{"id":"1177e60a-b998-47fd-9542-d52331f823f3","block_type":"box","text":"99.94","page_number":63,"box":{"x":443,"y":532,"width":30,"height":6}},{"id":"dba4ecca-eca1-492d-a317-d782e43751e5","block_type":"box","text":"^","page_number":63,"box":{"x":57,"y":556,"width":3,"height":2}},{"id":"c9d0b500-8654-4f40-9217-40bc5f2678e3","block_type":"box","text":"The high and low prices disclosed are the high and low prices for the accounting","page_number":63,"box":{"x":63,"y":556,"width":414,"height":7}},{"id":"88c4da82-1747-40f6-b1b4-6cd1fc28ecc4","block_type":"box","text":"period and not the calendar year.","page_number":63,"box":{"x":57,"y":566,"width":175,"height":8}},{"id":"81731a7a-f4e3-4e3f-acbd-fdd039e72c01","block_type":"box","text":"From 3 June 2019, the Fund has received a full rebate of","page_number":63,"box":{"x":58,"y":584,"width":421,"height":10}},{"id":"6b7d12a3-0b96-41a0-819a-6315fc9e3d11","block_type":"box","text":"synthetic costs to maintain the Fund Management Fee at a","page_number":63,"box":{"x":57,"y":598,"width":420,"height":9}},{"id":"1824219c-ccd6-44ec-8794-a39cbbbff6bf","block_type":"box","text":"fixed level.","page_number":63,"box":{"x":57,"y":611,"width":71,"height":7}},{"id":"3c3b067d-024b-4b30-a376-03584a57d7f2","block_type":"box","text":"It should be noted that past performance is not a reliable","page_number":63,"box":{"x":58,"y":627,"width":419,"height":10}},{"id":"22bc897c-e6d7-489a-af07-c5948710930f","block_type":"box","text":"indicator of future performance and that the value of shares,","page_number":63,"box":{"x":58,"y":640,"width":419,"height":10}},{"id":"e0bf6062-2571-4384-bd02-c42c7f77da90","block_type":"box","text":"and the income derived from them, can vary.","page_number":63,"box":{"x":57,"y":653,"width":302,"height":10}},{"id":"0e222f85-a7b7-4f6c-92c7-df926a20c50b","block_type":"box","text":"Comparative Tables","page_number":63,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"97eb1f24-493d-40a4-be11-70a78f28294b","block_type":"box","text":"(continued)","page_number":63,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"5c259a8b-c6c0-4422-bc7c-bb045892bf31","block_type":"box","text":"Royal London Multi Asset Strategies Fund | Royal London Multi-Asset Funds ICVC","page_number":63,"box":{"x":475,"y":33,"width":438,"height":8}},{"id":"ff930696-1e6f-4953-8695-27fa86d4ce6d","block_type":"box","text":"63","page_number":63,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"ed86b52f-e340-42d3-9096-0939f805c7c7","block_type":"box","text":"Portfolio Statement","page_number":64,"box":{"x":58,"y":94,"width":233,"height":11}},{"id":"011c8464-a93a-4dc6-88a7-4fb07d72db45","block_type":"box","text":"As at 30","page_number":64,"box":{"x":57,"y":113,"width":55,"height":8}},{"id":"027d271a-68ea-4477-ae31-bcf25c72bb55","block_type":"box","text":"June 2026","page_number":64,"box":{"x":117,"y":113,"width":70,"height":8}},{"id":"3f8b727b-b9b5-481b-a9cf-6f949ed25864","block_type":"box","text":"Bond Collective Investment Schemes – 62.50% (31/12/25 – 60.40%)","page_number":64,"box":{"x":58,"y":201,"width":379,"height":8}},{"id":"6a71af70-14c8-4d15-8b39-b0d1c981a62c","block_type":"box","text":"18,301,407","page_number":64,"box":{"x":63,"y":211,"width":57,"height":7}},{"id":"a8e7d4ee-1f59-4bb1-ba23-5aa300bdb959","block_type":"box","text":"Royal London Emerging Markets Corporate","page_number":64,"box":{"x":129,"y":211,"width":225,"height":8}},{"id":"6fbfdea3-2f21-4bfc-b148-7d687b0183b3","block_type":"box","text":"Bond Fund R Acc","page_number":64,"box":{"x":129,"y":221,"width":90,"height":6}},{"id":"460f3253-3249-40f6-9aca-07c6f1ca4cba","block_type":"box","text":"†","page_number":64,"box":{"x":220,"y":220,"width":3,"height":5}},{"id":"b6093677-d6ba-448b-adee-e9d4fca5077b","block_type":"box","text":"23,395","page_number":64,"box":{"x":364,"y":220,"width":35,"height":8}},{"id":"86104feb-6cee-459e-9d8d-e24d4fb7cd1d","block_type":"box","text":"2.49","page_number":64,"box":{"x":450,"y":220,"width":22,"height":7}},{"id":"e49a1ed7-f516-44b7-9712-fe10d220d771","block_type":"box","text":"27,521,257","page_number":64,"box":{"x":62,"y":230,"width":58,"height":7}},{"id":"18c299e7-faf7-43b9-8ced-6e7f7dc1e5ac","block_type":"box","text":"Royal London Ethical Bond Fund R Acc","page_number":64,"box":{"x":129,"y":230,"width":205,"height":8}},{"id":"03ee6554-595c-4f4c-be0b-4dc2b9532a03","block_type":"box","text":"†","page_number":64,"box":{"x":334,"y":230,"width":4,"height":4}},{"id":"aa1dc718-8577-4996-b00e-266d8c4b52bd","block_type":"box","text":"35,098","page_number":64,"box":{"x":364,"y":230,"width":35,"height":7}},{"id":"f609857a-9f5b-4164-89fc-3edeaf49fd51","block_type":"box","text":"3.74","page_number":64,"box":{"x":450,"y":230,"width":22,"height":6}},{"id":"df1e2132-fe4a-416a-b2fc-3b8dfda74ae6","block_type":"box","text":"18,655,071","page_number":64,"box":{"x":63,"y":240,"width":56,"height":7}},{"id":"d02048f8-0acd-49dd-ab81-1f419bcfa1ad","block_type":"box","text":"Royal London Global Government Bond","page_number":64,"box":{"x":129,"y":239,"width":207,"height":8}},{"id":"4ba0a4a8-3e0e-410f-9bfa-7136367e4ab3","block_type":"box","text":"Fund R Acc","page_number":64,"box":{"x":129,"y":249,"width":60,"height":6}},{"id":"b8c5292a-6e04-45a0-b850-ca3eba07c251","block_type":"box","text":"†","page_number":64,"box":{"x":189,"y":249,"width":3,"height":4}},{"id":"3077e277-05ce-4291-9178-f0373ed82870","block_type":"box","text":"18,838","page_number":64,"box":{"x":365,"y":249,"width":34,"height":7}},{"id":"d8c299a1-11b6-4b1d-8e72-51aa464d8b14","block_type":"box","text":"2.01","page_number":64,"box":{"x":450,"y":249,"width":20,"height":6}},{"id":"5bbfcd5e-ed29-4530-aafe-c38e0b95dc7c","block_type":"box","text":"21,793,426","page_number":64,"box":{"x":62,"y":259,"width":58,"height":7}},{"id":"abbe54d2-73b0-4670-9bb8-24b8fe922587","block_type":"box","text":"Royal London Global Senior ABS Fund","page_number":64,"box":{"x":129,"y":258,"width":202,"height":8}},{"id":"9f647f9c-5326-491c-9137-3a78caa20ac3","block_type":"box","text":"R Acc","page_number":64,"box":{"x":129,"y":268,"width":30,"height":6}},{"id":"aa8ebf8d-bd5b-4f7f-8d33-5f5a6307be31","block_type":"box","text":"†","page_number":64,"box":{"x":159,"y":268,"width":3,"height":4}},{"id":"29c5fa5b-59a0-426e-8dc1-43fdce74ca97","block_type":"box","text":"23,214","page_number":64,"box":{"x":364,"y":268,"width":35,"height":7}},{"id":"ec0c5edd-8eb5-43c3-8a46-033b6182b573","block_type":"box","text":"2.47","page_number":64,"box":{"x":450,"y":268,"width":22,"height":6}},{"id":"1fa66562-f3a2-4466-a50a-f054eae50a68","block_type":"box","text":"82,360,216","page_number":64,"box":{"x":63,"y":278,"width":57,"height":7}},{"id":"c53ecd4c-e432-4027-ad60-3453d959e08f","block_type":"box","text":"Royal London International Government","page_number":64,"box":{"x":129,"y":277,"width":207,"height":8}},{"id":"9dd18890-d0f9-4222-a8b0-4bdd5fa61751","block_type":"box","text":"Bond Fund R Acc","page_number":64,"box":{"x":129,"y":287,"width":90,"height":6}},{"id":"cd5b247b-a0b2-482a-bd3f-2e1d77e05665","block_type":"box","text":"†","page_number":64,"box":{"x":220,"y":287,"width":3,"height":4}},{"id":"91445102-cd45-47fe-b1a8-4f79773bfd5a","block_type":"box","text":"94,195","page_number":64,"box":{"x":364,"y":287,"width":35,"height":7}},{"id":"e85a2e6a-07c3-4f6c-8ea9-fae283d05a34","block_type":"box","text":"10.03","page_number":64,"box":{"x":444,"y":287,"width":28,"height":6}},{"id":"7db66de3-8758-4cd3-b9be-29f53ba381fb","block_type":"box","text":"56,528,730","page_number":64,"box":{"x":63,"y":297,"width":57,"height":7}},{"id":"a42237ee-5da7-426a-88f0-12acd15d7d0f","block_type":"box","text":"Royal London Investment Grade Short","page_number":64,"box":{"x":129,"y":296,"width":200,"height":8}},{"id":"2d475a45-7282-45c8-aba5-2701a243f421","block_type":"box","text":"Dated Credit Fund R Acc","page_number":64,"box":{"x":129,"y":306,"width":129,"height":6}},{"id":"4015409f-2fd6-46d8-aa58-669d1e8c61d7","block_type":"box","text":"†","page_number":64,"box":{"x":258,"y":306,"width":4,"height":4}},{"id":"16868508-7367-4a64-9546-5c9bb2753c2b","block_type":"box","text":"71,317","page_number":64,"box":{"x":364,"y":306,"width":35,"height":7}},{"id":"72493ab6-05f7-46ff-a218-9bcda02a6da6","block_type":"box","text":"7.60","page_number":64,"box":{"x":450,"y":306,"width":22,"height":6}},{"id":"b853a405-a354-45ac-8140-73402720e100","block_type":"box","text":"22,293,349","page_number":64,"box":{"x":62,"y":316,"width":58,"height":7}},{"id":"30bc7552-4b92-4cf5-8ea3-bfd46ae2efa5","block_type":"box","text":"Royal London Short Term Fixed Income","page_number":64,"box":{"x":129,"y":315,"width":206,"height":8}},{"id":"4f8661ae-6749-4984-a047-3651a56621f4","block_type":"box","text":"R Acc","page_number":64,"box":{"x":129,"y":325,"width":30,"height":6}},{"id":"578fcb1e-2ec8-4ca5-84f2-f576e80f6abf","block_type":"box","text":"†","page_number":64,"box":{"x":159,"y":325,"width":3,"height":4}},{"id":"313374ad-3ad8-4554-8b25-6ce334918c90","block_type":"box","text":"27,492","page_number":64,"box":{"x":364,"y":325,"width":35,"height":7}},{"id":"3da23e85-ef33-415b-936a-b979f4cab46f","block_type":"box","text":"2.93","page_number":64,"box":{"x":450,"y":325,"width":22,"height":6}},{"id":"120bec54-1d30-4cff-bbfa-a92586376f63","block_type":"box","text":"1,737","page_number":64,"box":{"x":93,"y":335,"width":27,"height":7}},{"id":"4c9db927-5e9d-4bfa-807a-8d9dfa69d479","block_type":"box","text":"Royal London Short-Term Money Market","page_number":64,"box":{"x":129,"y":334,"width":211,"height":8}},{"id":"955086dc-9429-4b7e-a457-dfe186a75c49","block_type":"box","text":"Fund R Acc","page_number":64,"box":{"x":129,"y":344,"width":60,"height":6}},{"id":"bce00880-18fb-4a4e-8a3f-69de2b80533f","block_type":"box","text":"†","page_number":64,"box":{"x":189,"y":344,"width":3,"height":4}},{"id":"38d957cb-d5f2-4bcf-82c0-39a9ef0bfcf0","block_type":"box","text":"2","page_number":64,"box":{"x":393,"y":344,"width":6,"height":6}},{"id":"494697a1-81a0-410b-9cab-fa8dc3693077","block_type":"box","text":"–","page_number":64,"box":{"x":466,"y":348,"width":6,"height":0}},{"id":"b13a6c75-275d-412f-8f08-40aaa01b3e78","block_type":"box","text":"115,702,477","page_number":64,"box":{"x":58,"y":354,"width":63,"height":7}},{"id":"5a85af70-27d5-4eff-955e-20eb0566da2d","block_type":"box","text":"Royal London Sterling Liquidity Money","page_number":64,"box":{"x":129,"y":353,"width":200,"height":8}},{"id":"9aee00fa-b6ec-44ff-b89d-032f1562e39a","block_type":"box","text":"Market Fund R Inc","page_number":64,"box":{"x":129,"y":363,"width":96,"height":6}},{"id":"d515d9d7-2314-4147-89ac-91d618dbb656","block_type":"box","text":"†","page_number":64,"box":{"x":225,"y":363,"width":3,"height":4}},{"id":"8e24e2d1-e2ab-49b9-97fc-a42b3dc11abf","block_type":"box","text":"115,702","page_number":64,"box":{"x":359,"y":363,"width":40,"height":7}},{"id":"ad3f7e34-7f4c-4680-8136-394fdba0e3e1","block_type":"box","text":"12.32","page_number":64,"box":{"x":444,"y":363,"width":28,"height":6}},{"id":"310307d0-9977-4eaa-8dd8-95fca7816461","block_type":"box","text":"22,757,818","page_number":64,"box":{"x":62,"y":373,"width":58,"height":7}},{"id":"44d98b04-b404-437f-a71c-26f09a40c224","block_type":"box","text":"Royal London Sustainable Corporate Bond","page_number":64,"box":{"x":129,"y":372,"width":222,"height":8}},{"id":"463afddb-822a-4730-9433-a062b92ae633","block_type":"box","text":"Trust D Acc","page_number":64,"box":{"x":128,"y":382,"width":60,"height":6}},{"id":"ceed67d4-f7fa-4e57-856e-5362578632a6","block_type":"box","text":"†","page_number":64,"box":{"x":189,"y":382,"width":3,"height":4}},{"id":"31bc9271-e352-44b0-a379-3f2c28e2bb26","block_type":"box","text":"35,831","page_number":64,"box":{"x":364,"y":382,"width":33,"height":7}},{"id":"198ac84e-2050-40a7-b854-54c3345c51d7","block_type":"box","text":"3.82","page_number":64,"box":{"x":450,"y":382,"width":22,"height":6}},{"id":"7bccbec4-f781-4191-9a03-90393159fb04","block_type":"box","text":"37,569,126","page_number":64,"box":{"x":63,"y":392,"width":57,"height":7}},{"id":"ca7291a0-6c59-4d3e-8e8e-c2ef65139459","block_type":"box","text":"Royal London Sustainable Short Duration","page_number":64,"box":{"x":129,"y":391,"width":215,"height":8}},{"id":"59c7dd71-757c-4d90-af41-f86aa4e55bd3","block_type":"box","text":"Corporate Bond Fund R Acc","page_number":64,"box":{"x":129,"y":401,"width":146,"height":8}},{"id":"b64e7a26-e2b9-440c-b82a-9e58df21fa94","block_type":"box","text":"†","page_number":64,"box":{"x":275,"y":401,"width":4,"height":4}},{"id":"cea260eb-470e-4d54-bc00-73045178e4c1","block_type":"box","text":"47,412","page_number":64,"box":{"x":364,"y":401,"width":35,"height":7}},{"id":"ae2cf62e-bb46-4a68-8319-6d8167da6259","block_type":"box","text":"5.05","page_number":64,"box":{"x":450,"y":401,"width":22,"height":6}},{"id":"d7c579b6-62c5-45fc-9819-0ee66f948c7d","block_type":"box","text":"98,179,428","page_number":64,"box":{"x":63,"y":411,"width":57,"height":7}},{"id":"326c5f3f-0694-4eb9-b365-0c60166f4985","block_type":"box","text":"Royal London UK Government Bond Fund","page_number":64,"box":{"x":129,"y":410,"width":219,"height":8}},{"id":"96d65336-2420-4fd4-bc50-f29c7a0c62fe","block_type":"box","text":"R Acc","page_number":64,"box":{"x":129,"y":420,"width":30,"height":6}},{"id":"58cb310e-34ce-459f-a1ac-e8aa3e8796c4","block_type":"box","text":"†","page_number":64,"box":{"x":159,"y":420,"width":3,"height":4}},{"id":"dbdd96dc-34a5-46ae-952a-ad6187714c0b","block_type":"box","text":"94,280","page_number":64,"box":{"x":364,"y":420,"width":35,"height":7}},{"id":"5cbd878c-0c1b-4d47-9657-fde28e5979e9","block_type":"box","text":"10.04","page_number":64,"box":{"x":444,"y":420,"width":28,"height":6}},{"id":"d73496c0-5437-46cc-8f0c-4bfd9e8429ed","block_type":"box","text":"Total Bond Collective Investment Schemes","page_number":64,"box":{"x":57,"y":436,"width":239,"height":6}},{"id":"35b42154-a541-4eb9-8bd7-37dfdc1fa3db","block_type":"box","text":"586,776","page_number":64,"box":{"x":358,"y":436,"width":41,"height":8}},{"id":"3fa6e50f-4f97-4e29-97f0-a3636ea9dcdf","block_type":"box","text":"62.50","page_number":64,"box":{"x":443,"y":436,"width":29,"height":6}},{"id":"cfe4cecc-9515-40b5-9bef-09cdb7fe7754","block_type":"box","text":"Equity Collective Investment Schemes – 30.45% (31/12/25 – 30.28%)","page_number":64,"box":{"x":58,"y":452,"width":386,"height":8}},{"id":"68c55c03-8bb0-4139-b6bb-0462c5ecf8c9","block_type":"box","text":"16,220,086","page_number":64,"box":{"x":63,"y":462,"width":57,"height":7}},{"id":"545d5151-b96b-4053-9f6e-098e36939e5b","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt","page_number":64,"box":{"x":129,"y":462,"width":204,"height":8}},{"id":"535cbd6c-2608-46d3-8489-fecfe17d9183","block_type":"box","text":"Fund R Acc","page_number":64,"box":{"x":129,"y":472,"width":60,"height":6}},{"id":"6da76f78-01db-49be-ae8f-47b9871d2414","block_type":"box","text":"†","page_number":64,"box":{"x":189,"y":472,"width":3,"height":4}},{"id":"efea202f-09ad-4e74-8452-507639c91aa8","block_type":"box","text":"48,582","page_number":64,"box":{"x":364,"y":472,"width":35,"height":7}},{"id":"7fdb57d7-a5e3-4185-8397-d61abb465a68","block_type":"box","text":"5.17","page_number":64,"box":{"x":450,"y":472,"width":22,"height":6}},{"id":"2bfc87b2-5623-4176-bead-f31891b4de6b","block_type":"box","text":"22,283,954","page_number":64,"box":{"x":62,"y":481,"width":58,"height":7}},{"id":"f9e656fa-c947-4e41-aacc-054112e8bd27","block_type":"box","text":"Royal London Emerging Markets Equity","page_number":64,"box":{"x":129,"y":481,"width":206,"height":8}},{"id":"2bd03472-a411-4a6a-8bf9-334e8cd8fec0","block_type":"box","text":"Tilt Fund R Acc","page_number":64,"box":{"x":128,"y":491,"width":79,"height":6}},{"id":"1144f62e-e49e-460c-bc60-0252cca56bda","block_type":"box","text":"†","page_number":64,"box":{"x":208,"y":491,"width":3,"height":4}},{"id":"6b731789-ae95-4444-8a90-6f9e0c78265f","block_type":"box","text":"46,335","page_number":64,"box":{"x":364,"y":491,"width":35,"height":7}},{"id":"13caf958-ab09-48d3-80ef-7aa6ded2dd2d","block_type":"box","text":"4.94","page_number":64,"box":{"x":450,"y":491,"width":22,"height":6}},{"id":"e002dac9-87bc-4ba4-a93b-b4a65970bd7d","block_type":"box","text":"21,632,098","page_number":64,"box":{"x":62,"y":500,"width":58,"height":7}},{"id":"70deccbe-9a72-4cf2-a332-27b0d14f6bab","block_type":"box","text":"Royal London Europe ex UK Equity Tilt","page_number":64,"box":{"x":129,"y":500,"width":202,"height":8}},{"id":"5eca0b08-b2f1-4d63-8070-cb1775a297c6","block_type":"box","text":"Fund R Acc","page_number":64,"box":{"x":129,"y":510,"width":60,"height":6}},{"id":"035779fc-0612-4d0e-b37d-1118c656cc02","block_type":"box","text":"†","page_number":64,"box":{"x":189,"y":510,"width":3,"height":4}},{"id":"dc33e342-b872-49de-b757-90cbbea9d6f5","block_type":"box","text":"48,815","page_number":64,"box":{"x":364,"y":510,"width":35,"height":7}},{"id":"1cf43c17-7e78-4ad8-8838-68bd7fc3f49a","block_type":"box","text":"5.20","page_number":64,"box":{"x":450,"y":510,"width":22,"height":6}},{"id":"2f07fa64-c18b-4086-b2e7-8f9aff09d9d4","block_type":"box","text":"25,589,253","page_number":64,"box":{"x":62,"y":519,"width":58,"height":7}},{"id":"6b3d330e-dd8e-439d-8e1c-280a96c78d0b","block_type":"box","text":"Royal London Japan Equity Tilt Fund","page_number":64,"box":{"x":129,"y":519,"width":190,"height":8}},{"id":"fb6fea86-b66b-4002-b3c2-bfbd51bb8a1b","block_type":"box","text":"R Acc","page_number":64,"box":{"x":129,"y":529,"width":30,"height":6}},{"id":"d5da9c26-c01b-4af5-a5c6-ea732b8da2e4","block_type":"box","text":"†","page_number":64,"box":{"x":159,"y":529,"width":3,"height":4}},{"id":"7c1b3724-8cdf-41ed-a966-0021890ad781","block_type":"box","text":"47,509","page_number":64,"box":{"x":364,"y":529,"width":35,"height":7}},{"id":"f14ae3b3-568e-472e-a884-f198ddc9faff","block_type":"box","text":"5.06","page_number":64,"box":{"x":450,"y":529,"width":22,"height":6}},{"id":"363a9295-693a-42e8-b3d0-efac8d185c47","block_type":"box","text":"25,176,823","page_number":64,"box":{"x":62,"y":538,"width":58,"height":7}},{"id":"36c6e476-65c9-4150-b667-6f3cecf35864","block_type":"box","text":"Royal London UK Core Equity Tilt R Acc","page_number":64,"box":{"x":129,"y":538,"width":208,"height":8}},{"id":"db5f8d04-ed52-44b3-9e63-ec761068ba52","block_type":"box","text":"†","page_number":64,"box":{"x":337,"y":538,"width":4,"height":4}},{"id":"8cc1918e-85f8-4411-a419-19f44158c1fd","block_type":"box","text":"47,403","page_number":64,"box":{"x":364,"y":538,"width":35,"height":7}},{"id":"764f8e94-0d13-41f1-98a6-79e80607001b","block_type":"box","text":"5.05","page_number":64,"box":{"x":450,"y":538,"width":22,"height":6}},{"id":"74477a56-d3d4-4f13-aa99-f83bae3bfee8","block_type":"box","text":"16,730,540","page_number":64,"box":{"x":63,"y":548,"width":57,"height":7}},{"id":"640022b8-3317-4020-aeb7-704586a827fe","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":64,"box":{"x":129,"y":547,"width":209,"height":8}},{"id":"61282dcb-04d5-4e26-93ad-d79bd4febd98","block_type":"box","text":"†","page_number":64,"box":{"x":339,"y":548,"width":3,"height":4}},{"id":"97f7f94e-e857-449b-9242-8265fa6c1d57","block_type":"box","text":"47,219","page_number":64,"box":{"x":364,"y":548,"width":35,"height":7}},{"id":"9818c642-f4d7-448f-8f28-afc65eb4d804","block_type":"box","text":"5.03","page_number":64,"box":{"x":450,"y":548,"width":22,"height":6}},{"id":"a19a64e8-83d1-4782-b173-648139faac52","block_type":"box","text":"Total Equity Collective Investment Schemes","page_number":64,"box":{"x":57,"y":564,"width":245,"height":7}},{"id":"e7df52b4-cbe2-4517-993b-3b2e974560bb","block_type":"box","text":"285,863","page_number":64,"box":{"x":357,"y":564,"width":42,"height":7}},{"id":"e84acddd-d4d3-4dc1-8f46-2d6162fb50dd","block_type":"box","text":"30.45","page_number":64,"box":{"x":443,"y":564,"width":29,"height":6}},{"id":"d788f981-28fd-418f-8514-7c8e6c3ae2b2","block_type":"box","text":"Exchange Traded Commodities – 0.00% (31/12/25 – 3.00%)","page_number":64,"box":{"x":58,"y":580,"width":330,"height":8}},{"id":"045dd800-b3c8-4be3-bcb2-c03bae2eaf8a","block_type":"box","text":"Exchange Traded Funds – 4.81% (31/12/25 – 5.11%)","page_number":64,"box":{"x":58,"y":589,"width":286,"height":8}},{"id":"fb398fbe-ec4a-4bc8-bdab-9104d7c92bdc","block_type":"box","text":"1,714,111","page_number":64,"box":{"x":72,"y":599,"width":47,"height":7}},{"id":"7f6429a7-3a7a-4844-a1bb-2fa91c145587","block_type":"box","text":"Invesco Bloomberg Commodity Carbon","page_number":64,"box":{"x":129,"y":599,"width":203,"height":8}},{"id":"f8daa239-fbf9-45e4-b120-b3cb92f080af","block_type":"box","text":"Tilted UCITS ETF","page_number":64,"box":{"x":128,"y":608,"width":92,"height":7}},{"id":"7d6c665b-f470-422b-be72-4a6ac3250c6a","block_type":"box","text":"9,095","page_number":64,"box":{"x":371,"y":609,"width":28,"height":7}},{"id":"51d12469-f6cf-4f87-9418-f3cbbfd51247","block_type":"box","text":"0.97","page_number":64,"box":{"x":450,"y":609,"width":22,"height":6}},{"id":"e8b74c43-5be0-4fc3-b90b-be65a26bdd1d","block_type":"box","text":"1,621,740","page_number":64,"box":{"x":70,"y":618,"width":50,"height":7}},{"id":"ae2e9c71-1087-49e9-a600-75ebab613bed","block_type":"box","text":"iShares Bloomberg Roll Select Commodity","page_number":64,"box":{"x":129,"y":618,"width":221,"height":8}},{"id":"41c4b9d4-a026-4d63-8a35-ffebd4db2990","block_type":"box","text":"Swap UCITS ETF","page_number":64,"box":{"x":129,"y":627,"width":92,"height":8}},{"id":"89bc1ee9-8f92-44b4-88ff-c31afc77abe9","block_type":"box","text":"12,240","page_number":64,"box":{"x":365,"y":628,"width":34,"height":7}},{"id":"37d0bca6-2990-42e9-8139-d6a613e8739b","block_type":"box","text":"1.30","page_number":64,"box":{"x":451,"y":628,"width":21,"height":6}},{"id":"d674a30d-0f52-4c98-a4a7-81f80ca097aa","block_type":"box","text":"740,213","page_number":64,"box":{"x":79,"y":637,"width":41,"height":7}},{"id":"b9322478-1794-4a74-abd6-3a714532070c","block_type":"box","text":"UBS (IRL) Fund Solutions – UCITS ETF","page_number":64,"box":{"x":129,"y":637,"width":208,"height":8}},{"id":"ecfe6513-b84b-49e1-9387-ed73b3a36575","block_type":"box","text":"B Acc","page_number":64,"box":{"x":129,"y":647,"width":29,"height":6}},{"id":"2862e682-76bf-492d-a4e9-bfcbbf95cade","block_type":"box","text":"11,690","page_number":64,"box":{"x":366,"y":647,"width":33,"height":7}},{"id":"62e9ada5-bd46-4479-b2b2-61d7e61bd653","block_type":"box","text":"1.24","page_number":64,"box":{"x":451,"y":647,"width":21,"height":6}},{"id":"6254736a-abea-4fa7-8204-182d8d5efa2a","block_type":"box","text":"806,991","page_number":64,"box":{"x":79,"y":656,"width":40,"height":7}},{"id":"796be608-15ed-4030-9bba-3a89b8e5df1f","block_type":"box","text":"Wisdomtree Enhanced Commodity","page_number":64,"box":{"x":128,"y":656,"width":182,"height":8}},{"id":"0d48047e-9393-4f08-ac78-c5ea2b03edff","block_type":"box","text":"UCITS ETF","page_number":64,"box":{"x":129,"y":665,"width":59,"height":7}},{"id":"175600f1-16e6-41d3-8b4b-1241aa13e7cb","block_type":"box","text":"12,165","page_number":64,"box":{"x":365,"y":666,"width":34,"height":7}},{"id":"ae54fe26-781f-4b6e-a09a-64920eba3da1","block_type":"box","text":"1.30","page_number":64,"box":{"x":451,"y":666,"width":21,"height":6}},{"id":"0ef69476-a2a2-4f43-8a6f-72b17035373a","block_type":"box","text":"Total Exchange Traded Funds","page_number":64,"box":{"x":57,"y":682,"width":165,"height":7}},{"id":"e14d53a8-baee-4fed-ae3a-6594647150a2","block_type":"box","text":"45,190","page_number":64,"box":{"x":364,"y":682,"width":35,"height":7}},{"id":"b53bbe13-8348-49df-9eab-d1a8e5a569a4","block_type":"box","text":"4.81","page_number":64,"box":{"x":450,"y":682,"width":20,"height":6}},{"id":"b5340891-0fb6-4c7f-86fa-6efa29301f27","block_type":"box","text":"Forward Currency Contracts – 0.03% (31/12/25 – 0.05%)","page_number":64,"box":{"x":58,"y":698,"width":314,"height":8}},{"id":"2e10b3ba-9b62-499a-84b2-6fce3a2e98b9","block_type":"box","text":"Buy AUD9,493,449 & Sell £5,032,807*","page_number":64,"box":{"x":129,"y":707,"width":199,"height":8}},{"id":"247b8940-6a1e-46c2-ad23-8cbc30659f9d","block_type":"box","text":"(79)","page_number":64,"box":{"x":383,"y":707,"width":20,"height":8}},{"id":"c8224075-02c6-43be-89d5-4b62da565d0e","block_type":"box","text":"(0.01)","page_number":64,"box":{"x":446,"y":707,"width":30,"height":8}},{"id":"6e2618f3-30c0-4bc6-beb5-199cc47f2a81","block_type":"box","text":"Buy £258,843 & Sell €299,009*","page_number":64,"box":{"x":129,"y":717,"width":162,"height":8}},{"id":"3192a39b-4074-4503-8afb-e96cfdf6a798","block_type":"box","text":"1","page_number":64,"box":{"x":394,"y":717,"width":3,"height":6}},{"id":"2799e9a1-5e2b-4f00-b39c-d4624ec62fea","block_type":"box","text":"–","page_number":64,"box":{"x":466,"y":721,"width":6,"height":0}},{"id":"26f48fc3-2a3e-40bb-89cb-0a32710c801a","block_type":"box","text":"Buy £10,303,551 & Sell $13,825,032*","page_number":64,"box":{"x":129,"y":726,"width":195,"height":8}},{"id":"2cdbb47e-c421-4d45-b3ed-71109086813d","block_type":"box","text":"(113)","page_number":64,"box":{"x":378,"y":726,"width":25,"height":8}},{"id":"40ecb4aa-b664-4155-9698-c91d4c445913","block_type":"box","text":"(0.01)","page_number":64,"box":{"x":446,"y":726,"width":30,"height":8}},{"id":"f916c648-1908-44be-8fc2-5a8ed5a19271","block_type":"box","text":"Buy £6,538,650 & Sell NOK83,641,124*","page_number":64,"box":{"x":129,"y":736,"width":207,"height":8}},{"id":"ebb6bb59-7645-454d-912b-c1d9bfba32d5","block_type":"box","text":"172","page_number":64,"box":{"x":381,"y":736,"width":18,"height":6}},{"id":"c2fbc992-40ab-4f98-b890-53416868ca63","block_type":"box","text":"0.02","page_number":64,"box":{"x":450,"y":736,"width":22,"height":6}},{"id":"5422d827-b2c9-425c-bc32-70c6c4a948ef","block_type":"box","text":"Buy £10,610 & Sell CAD19,911*","page_number":64,"box":{"x":129,"y":745,"width":166,"height":8}},{"id":"e92018fe-c203-420f-ac9a-955bc53107fe","block_type":"box","text":"+","page_number":64,"box":{"x":296,"y":746,"width":4,"height":2}},{"id":"103e47e9-ba32-4d5c-8f04-c4904a99cce7","block_type":"box","text":"–","page_number":64,"box":{"x":393,"y":749,"width":6,"height":1}},{"id":"50a2a103-84fd-4527-9e2e-a6703607f093","block_type":"box","text":"–","page_number":64,"box":{"x":466,"y":749,"width":6,"height":1}},{"id":"3ebba0ff-8cdc-45df-8940-e2ae1123b2e8","block_type":"box","text":"Buy £6,803,225 & Sell SEK85,649,877*","page_number":64,"box":{"x":129,"y":755,"width":205,"height":8}},{"id":"860f920d-3a4f-4464-8f2f-fd461e77d16f","block_type":"box","text":"129","page_number":64,"box":{"x":381,"y":755,"width":18,"height":6}},{"id":"a2f687ba-64a4-4057-ae9e-6dd593b8c399","block_type":"box","text":"0.01","page_number":64,"box":{"x":450,"y":755,"width":20,"height":6}},{"id":"5d93e9b7-23b7-4a3e-9ce3-ea3ab8c7c36e","block_type":"box","text":"Buy £10,684,384 & Sell AUD20,295,836*","page_number":64,"box":{"x":129,"y":764,"width":212,"height":8}},{"id":"4e5b7b52-6fd6-423e-9e11-6c44eb249a85","block_type":"box","text":"94","page_number":64,"box":{"x":387,"y":765,"width":12,"height":6}},{"id":"dcfefd5d-5239-42e7-8d28-09d14f7ae7ca","block_type":"box","text":"0.01","page_number":64,"box":{"x":450,"y":765,"width":20,"height":6}},{"id":"c77d3aaf-53bf-45bf-988c-5aa1744701eb","block_type":"box","text":"Buy £6,985,230 & Sell CHF7,427,683*","page_number":64,"box":{"x":129,"y":774,"width":199,"height":8}},{"id":"4d1ca11d-a5fd-452a-b3aa-9c1c0485d6c5","block_type":"box","text":"34","page_number":64,"box":{"x":387,"y":774,"width":12,"height":6}},{"id":"eb69b636-a978-4d44-837f-487b2f57b3b2","block_type":"box","text":"–","page_number":64,"box":{"x":466,"y":778,"width":6,"height":0}},{"id":"f8abc2b8-5976-4f43-8ecd-acfa5e807275","block_type":"box","text":"Buy £13,367,724 & Sell JPY2,869,188,186*","page_number":64,"box":{"x":129,"y":783,"width":226,"height":8}},{"id":"b1c5cb5d-6824-4313-9fd0-d733b8362586","block_type":"box","text":"49","page_number":64,"box":{"x":387,"y":784,"width":12,"height":6}},{"id":"f31084cf-828f-4b81-a9c5-26de3c8c9049","block_type":"box","text":"0.01","page_number":64,"box":{"x":450,"y":784,"width":20,"height":6}},{"id":"5b6ef41c-d4eb-49db-a752-0fdc6c4aa472","block_type":"box","text":"Buy £6,385,747 & Sell €7,362,225*","page_number":64,"box":{"x":129,"y":793,"width":182,"height":8}},{"id":"82882b5e-4dcc-4ad5-ad9e-552d67aa6113","block_type":"box","text":"39","page_number":64,"box":{"x":387,"y":793,"width":12,"height":6}},{"id":"c0205a8e-f6ab-40e3-baa2-d5b27a2b56dc","block_type":"box","text":"–","page_number":64,"box":{"x":466,"y":797,"width":6,"height":0}},{"id":"d60718b1-301f-4c3a-8107-5e9ac00bde4d","block_type":"box","text":"Buy SEK36,200,837 & Sell £2,864,467*","page_number":64,"box":{"x":129,"y":802,"width":205,"height":8}},{"id":"78e64948-cff3-42ae-b8dd-83f192770598","block_type":"box","text":"(44)","page_number":64,"box":{"x":383,"y":802,"width":20,"height":8}},{"id":"86659718-64f8-4f6e-8d36-02d5bb7b81b4","block_type":"box","text":"(0.01)","page_number":64,"box":{"x":446,"y":802,"width":30,"height":8}},{"id":"36abddc6-7874-4c02-b719-1e4ac24b5795","block_type":"box","text":"Buy SGD4,808,266 & Sell £2,801,246*","page_number":64,"box":{"x":129,"y":812,"width":201,"height":8}},{"id":"f21fd02c-be7f-4b2d-82a3-e1660edaa4eb","block_type":"box","text":"3","page_number":64,"box":{"x":393,"y":812,"width":6,"height":6}},{"id":"8b3963a8-7eab-4a1a-a4a1-2307f72f5497","block_type":"box","text":"0.01","page_number":64,"box":{"x":450,"y":812,"width":20,"height":6}},{"id":"de0699e3-d838-4e80-8bd1-7e5542bd8478","block_type":"box","text":"Buy $3,168,894 & Sell £2,394,869*","page_number":64,"box":{"x":129,"y":821,"width":182,"height":8}},{"id":"a2a9b759-e444-458d-92bc-a23d07892b62","block_type":"box","text":"(7)","page_number":64,"box":{"x":390,"y":821,"width":13,"height":8}},{"id":"c8b5c81d-55a1-4278-884e-f4d4c8291a14","block_type":"box","text":"–","page_number":64,"box":{"x":466,"y":825,"width":6,"height":1}},{"id":"b1e9feec-954a-427e-ba85-0121a37235c6","block_type":"box","text":"Total Forward Currency Contracts","page_number":64,"box":{"x":57,"y":838,"width":189,"height":7}},{"id":"1d023cb1-f9f2-444f-879e-ac3664ffc74f","block_type":"box","text":"278","page_number":64,"box":{"x":380,"y":838,"width":19,"height":6}},{"id":"14eb660c-ffa8-43d9-97cc-e937e407264d","block_type":"box","text":"0.03","page_number":64,"box":{"x":450,"y":838,"width":22,"height":6}},{"id":"59151c5d-54d6-425a-83f0-393001bbff96","block_type":"box","text":"Holding","page_number":64,"box":{"x":58,"y":177,"width":43,"height":8}},{"id":"0eb612f3-bc7b-42b5-a2a1-cb200a5b144a","block_type":"box","text":"Investment","page_number":64,"box":{"x":129,"y":177,"width":63,"height":6}},{"id":"64b1e237-08c2-4581-9fc6-bd6808132d34","block_type":"box","text":"Mid-market","page_number":64,"box":{"x":337,"y":158,"width":65,"height":6}},{"id":"e7fefd62-7fcc-4c78-a790-06bfb26d581e","block_type":"box","text":"value","page_number":64,"box":{"x":371,"y":168,"width":30,"height":6}},{"id":"a6811ec9-50f8-4f52-9765-8def951c46d6","block_type":"box","text":"(£’000)","page_number":64,"box":{"x":364,"y":177,"width":37,"height":8}},{"id":"78c5ed4c-64b1-4b27-af15-a39ff213c8ab","block_type":"box","text":"Total net","page_number":64,"box":{"x":424,"y":168,"width":49,"height":6}},{"id":"5d6399cd-ba67-46cf-9e5d-4e479f79f5a6","block_type":"box","text":"assets (%)","page_number":64,"box":{"x":414,"y":177,"width":59,"height":8}},{"id":"c14022c0-3a29-4e6d-b0f0-b866fdbb213f","block_type":"box","text":"Holding","page_number":64,"box":{"x":522,"y":177,"width":43,"height":8}},{"id":"5b8945ee-5c59-44b6-8495-04f1143f33a3","block_type":"box","text":"Investment","page_number":64,"box":{"x":593,"y":177,"width":63,"height":6}},{"id":"294d5211-7d4e-4bf4-a99d-acba1f98de3f","block_type":"box","text":"Mid-market","page_number":64,"box":{"x":802,"y":158,"width":64,"height":6}},{"id":"b9c2bc41-25cd-4dc9-b89a-a8ff02e2cd7d","block_type":"box","text":"value","page_number":64,"box":{"x":835,"y":168,"width":31,"height":6}},{"id":"d9a45472-561e-4a13-8676-c68bf7488509","block_type":"box","text":"(£’000)","page_number":64,"box":{"x":828,"y":177,"width":38,"height":8}},{"id":"d7d102cd-1f83-42b9-8d24-64dceacfeb70","block_type":"box","text":"Total net","page_number":64,"box":{"x":888,"y":168,"width":49,"height":6}},{"id":"ab8041d8-ba01-4335-8265-437b6827acaa","block_type":"box","text":"assets (%)","page_number":64,"box":{"x":879,"y":177,"width":58,"height":8}},{"id":"cf527ca3-de6d-4d89-91b8-2eb80d9075ab","block_type":"box","text":"Futures – 0.06% (31/12/25 – 0.10%)","page_number":64,"box":{"x":522,"y":202,"width":193,"height":7}},{"id":"d4144d8e-2a4e-46b8-9661-685b1c410d4b","block_type":"box","text":"(2,135)","page_number":64,"box":{"x":549,"y":211,"width":36,"height":8}},{"id":"c3d3a5cf-25ca-4e80-a296-8b79738ccaa6","block_type":"box","text":"CBT Bloomberg Commodity Index Future","page_number":64,"box":{"x":593,"y":211,"width":214,"height":8}},{"id":"1a2b354a-5d91-4de1-bc1a-15fdfb68da8a","block_type":"box","text":"September 2026","page_number":64,"box":{"x":593,"y":221,"width":86,"height":7}},{"id":"4db7ddbc-e405-4abc-8a49-a2d153a4b523","block_type":"box","text":"500","page_number":64,"box":{"x":845,"y":221,"width":18,"height":6}},{"id":"a640f1db-51d8-47f1-8005-93d3069f17e2","block_type":"box","text":"0.05","page_number":64,"box":{"x":914,"y":221,"width":22,"height":6}},{"id":"74938055-7307-42af-926e-73733b944f52","block_type":"box","text":"(164)","page_number":64,"box":{"x":558,"y":230,"width":27,"height":8}},{"id":"eab1dabb-5e4c-4c1d-b401-22193975f305","block_type":"box","text":"CBT US 10Year Note Future September 2026","page_number":64,"box":{"x":593,"y":230,"width":237,"height":8}},{"id":"1d97b33b-ae88-4aca-ab28-0f7e6c200e47","block_type":"box","text":"(48)","page_number":64,"box":{"x":848,"y":230,"width":19,"height":8}},{"id":"a62dc2f7-c9fd-46c8-bf92-b71ca2813323","block_type":"box","text":"–","page_number":64,"box":{"x":930,"y":234,"width":7,"height":0}},{"id":"cd470440-cc5d-430d-bd3a-70e2fde46f67","block_type":"box","text":"(89)","page_number":64,"box":{"x":565,"y":240,"width":20,"height":7}},{"id":"2aea0787-2478-43b2-b801-e765707e08b0","block_type":"box","text":"CME S&P500 E-Mini Commodity Series","page_number":64,"box":{"x":593,"y":240,"width":207,"height":7}},{"id":"aa4a5ad9-d818-434f-96d3-210596059f04","block_type":"box","text":"Future September 2026","page_number":64,"box":{"x":593,"y":249,"width":123,"height":8}},{"id":"ae5c189c-5b13-4c69-9e6e-8f3fc567f710","block_type":"box","text":"(65)","page_number":64,"box":{"x":848,"y":249,"width":19,"height":8}},{"id":"1ed1d4b7-90e2-4ba2-be21-bab8dba292cc","block_type":"box","text":"(0.01)","page_number":64,"box":{"x":911,"y":249,"width":29,"height":8}},{"id":"9e3a516a-657f-4d27-be4f-f391ffb61684","block_type":"box","text":"55","page_number":64,"box":{"x":573,"y":259,"width":12,"height":6}},{"id":"f9b6e8a8-6c2a-485c-b560-db9cd7837408","block_type":"box","text":"CME S&P500 E-Mini Future September 2026","page_number":64,"box":{"x":593,"y":259,"width":235,"height":7}},{"id":"8785d85c-2cc6-4f53-9b20-97a2f7d54a84","block_type":"box","text":"84","page_number":64,"box":{"x":851,"y":259,"width":12,"height":6}},{"id":"b6528789-6f08-4e59-b124-3d00e614a02b","block_type":"box","text":"0.01","page_number":64,"box":{"x":914,"y":259,"width":21,"height":6}},{"id":"364ff096-d2d7-49f4-97e7-29c92edfdcb9","block_type":"box","text":"(25)","page_number":64,"box":{"x":565,"y":268,"width":20,"height":8}},{"id":"f2b7c8ba-69e5-424a-ae38-4fcefc9c3fa4","block_type":"box","text":"CME XAB Materials Future September 2026","page_number":64,"box":{"x":593,"y":268,"width":230,"height":8}},{"id":"3f9458da-13da-4445-bcca-f5d02977a157","block_type":"box","text":"12","page_number":64,"box":{"x":852,"y":268,"width":11,"height":6}},{"id":"43abfada-27b8-4e84-bb7d-ce25aff77b5d","block_type":"box","text":"–","page_number":64,"box":{"x":930,"y":272,"width":7,"height":0}},{"id":"88b98ca4-6ec9-4e27-a569-98ff4976bbde","block_type":"box","text":"(109)","page_number":64,"box":{"x":558,"y":278,"width":27,"height":7}},{"id":"fe135ddf-ff29-4b1b-bea5-6aa6fee87963","block_type":"box","text":"CME XAE Energy Future September 2025","page_number":64,"box":{"x":593,"y":278,"width":220,"height":7}},{"id":"11fcb983-e62a-463b-94fe-b8bc2691bdc6","block_type":"box","text":"201","page_number":64,"box":{"x":845,"y":278,"width":17,"height":6}},{"id":"bf4bfdd6-9980-4375-9db5-255c63541a24","block_type":"box","text":"0.02","page_number":64,"box":{"x":914,"y":278,"width":22,"height":6}},{"id":"aa711ad4-b96c-40ee-957d-c697d4d01765","block_type":"box","text":"22","page_number":64,"box":{"x":572,"y":287,"width":13,"height":6}},{"id":"1253069b-b7ba-4584-9415-4574df6946c0","block_type":"box","text":"CME XAF Financial Future September 2026","page_number":64,"box":{"x":593,"y":287,"width":229,"height":8}},{"id":"22cf2ce8-32e4-4762-8618-6db474c7d3b3","block_type":"box","text":"8","page_number":64,"box":{"x":858,"y":287,"width":5,"height":6}},{"id":"7c7f51c4-9b21-49b0-9204-e412028f4803","block_type":"box","text":"–","page_number":64,"box":{"x":930,"y":291,"width":7,"height":0}},{"id":"2a4ad3ec-fc28-4c6f-b1ae-85af2fd0f2e0","block_type":"box","text":"43","page_number":64,"box":{"x":572,"y":297,"width":13,"height":6}},{"id":"69a56968-144d-48b9-ad24-094dfad21c5a","block_type":"box","text":"CME XAK Technology Future September 2026","page_number":64,"box":{"x":593,"y":297,"width":242,"height":7}},{"id":"22f296cb-9dfb-4724-8c51-de5ffa41706a","block_type":"box","text":"(73)","page_number":64,"box":{"x":848,"y":297,"width":19,"height":7}},{"id":"eaca9da8-f429-4ef8-8026-47f0c8967397","block_type":"box","text":"(0.01)","page_number":64,"box":{"x":911,"y":297,"width":29,"height":7}},{"id":"73cdf6ea-27dd-4ae5-91ae-047ad66a17f4","block_type":"box","text":"29","page_number":64,"box":{"x":572,"y":306,"width":13,"height":6}},{"id":"53420fdb-3eb3-419a-9787-efd0bbb64b72","block_type":"box","text":"CME XAP Consumer Staples Futures","page_number":64,"box":{"x":593,"y":306,"width":195,"height":8}},{"id":"f4102f1a-4461-4c3d-b37a-fbc82764406c","block_type":"box","text":"September 2026","page_number":64,"box":{"x":593,"y":316,"width":86,"height":7}},{"id":"65b8b99d-ee71-466b-8b09-a235b18522c3","block_type":"box","text":"(32)","page_number":64,"box":{"x":848,"y":316,"width":19,"height":7}},{"id":"6615b468-2407-447b-a48f-b2bbbf5cc66e","block_type":"box","text":"–","page_number":64,"box":{"x":930,"y":319,"width":7,"height":1}},{"id":"445ace94-b3b7-4221-aece-c207c0ba9f0e","block_type":"box","text":"187","page_number":64,"box":{"x":567,"y":325,"width":18,"height":6}},{"id":"8c02ed6d-7428-4b6a-9fba-ed9aa9aefff7","block_type":"box","text":"CME XAU Utilities Future September 2026","page_number":64,"box":{"x":593,"y":325,"width":221,"height":8}},{"id":"5b933cf4-ecf2-45be-bf7a-10b07132fea3","block_type":"box","text":"(284)","page_number":64,"box":{"x":841,"y":325,"width":26,"height":8}},{"id":"a6a8186f-f09f-42ea-b6f2-ae0d9799c44f","block_type":"box","text":"(0.03)","page_number":64,"box":{"x":911,"y":325,"width":29,"height":8}},{"id":"d7b1a985-7868-481e-993b-8a910866be13","block_type":"box","text":"69","page_number":64,"box":{"x":573,"y":335,"width":12,"height":6}},{"id":"71c83aaf-32fc-491e-b073-92ce5dcc8de7","block_type":"box","text":"CME XAV Health Care Future September","page_number":64,"box":{"x":593,"y":335,"width":216,"height":7}},{"id":"a44189f3-09d3-4606-b0b1-fd73da156fc1","block_type":"box","text":"2026","page_number":64,"box":{"x":593,"y":344,"width":25,"height":6}},{"id":"390a961f-43db-4895-8660-351a0732d3e5","block_type":"box","text":"301","page_number":64,"box":{"x":845,"y":344,"width":17,"height":6}},{"id":"0ecacf9c-481f-4cc5-ba82-d640b2a7760a","block_type":"box","text":"0.03","page_number":64,"box":{"x":914,"y":344,"width":22,"height":6}},{"id":"bf013802-8291-44c2-b081-5751b4bfa063","block_type":"box","text":"(97)","page_number":64,"box":{"x":565,"y":354,"width":20,"height":7}},{"id":"688e21ef-8fe8-4379-945d-b44b67fcac7f","block_type":"box","text":"CME XAY Consumer Discretionary Future","page_number":64,"box":{"x":593,"y":354,"width":217,"height":7}},{"id":"fda492d3-cfac-4d25-861d-7fef7ece260d","block_type":"box","text":"September 2026","page_number":64,"box":{"x":593,"y":363,"width":86,"height":8}},{"id":"c4b41bbf-3b00-4e7a-9e08-d2f9a68a8874","block_type":"box","text":"(265)","page_number":64,"box":{"x":841,"y":363,"width":26,"height":8}},{"id":"4b27a011-0200-44d4-b6a6-762df254de48","block_type":"box","text":"(0.03)","page_number":64,"box":{"x":911,"y":363,"width":29,"height":8}},{"id":"167862dc-2e28-437f-806f-50a419270fb4","block_type":"box","text":"444","page_number":64,"box":{"x":566,"y":373,"width":19,"height":6}},{"id":"97906c09-17cf-4245-9fbd-60d10fc9cdf5","block_type":"box","text":"EUX Euro Stoxx 50 Future September 2026","page_number":64,"box":{"x":593,"y":373,"width":228,"height":7}},{"id":"04b2e212-1ae1-4dfa-af22-0e578dee42ab","block_type":"box","text":"344","page_number":64,"box":{"x":845,"y":373,"width":18,"height":6}},{"id":"80297efb-6c83-4754-befd-73ad3e5878db","block_type":"box","text":"0.04","page_number":64,"box":{"x":914,"y":373,"width":22,"height":6}},{"id":"82e77a2c-8d5e-4d0f-969a-a83f7a89cdbb","block_type":"box","text":"(124)","page_number":64,"box":{"x":558,"y":382,"width":27,"height":8}},{"id":"428ffcad-85c2-4af0-9910-b1699430b8ae","block_type":"box","text":"EUX Euro-Bond Future September 2026","page_number":64,"box":{"x":593,"y":382,"width":210,"height":8}},{"id":"816f67f4-09f0-4893-a342-8a2783fb8000","block_type":"box","text":"(143)","page_number":64,"box":{"x":841,"y":382,"width":26,"height":8}},{"id":"a60e78b6-4f2c-40c8-bf1d-425ab128468d","block_type":"box","text":"(0.02)","page_number":64,"box":{"x":911,"y":382,"width":29,"height":8}},{"id":"9c851159-4bdb-413d-a200-a4aeaba20f95","block_type":"box","text":"(111)","page_number":64,"box":{"x":560,"y":392,"width":25,"height":7}},{"id":"36e33206-7271-4410-9234-4a6407a76a0e","block_type":"box","text":"HKG Hang Seng Index Future July 2026","page_number":64,"box":{"x":593,"y":392,"width":209,"height":7}},{"id":"8eb59c5a-feff-4a06-8d4e-5d9a040cf49f","block_type":"box","text":"264","page_number":64,"box":{"x":845,"y":392,"width":18,"height":6}},{"id":"28ec1891-25e4-4e84-8968-b2de0a9d6820","block_type":"box","text":"0.03","page_number":64,"box":{"x":914,"y":392,"width":22,"height":6}},{"id":"c5687614-6b2a-4664-846a-a164b5c804c6","block_type":"box","text":"(105)","page_number":64,"box":{"x":558,"y":401,"width":27,"height":8}},{"id":"ab1fde71-22fd-43f5-a3ad-aab28c71a852","block_type":"box","text":"ICF FTSE 100 Index Future September 2026","page_number":64,"box":{"x":593,"y":401,"width":233,"height":8}},{"id":"6bddb822-8732-49be-8a2b-869812a10491","block_type":"box","text":"(84)","page_number":64,"box":{"x":848,"y":401,"width":19,"height":8}},{"id":"73b9b52f-9f0c-44fd-88a7-ef76edcd62cf","block_type":"box","text":"(0.01)","page_number":64,"box":{"x":911,"y":401,"width":29,"height":8}},{"id":"b63a30d0-f04f-495f-9bb1-f2dc7b190a8d","block_type":"box","text":"(158)","page_number":64,"box":{"x":558,"y":411,"width":27,"height":7}},{"id":"0e6ec56c-a664-4561-8873-5a242ff1e118","block_type":"box","text":"ICF Long Gilt Future September 2026","page_number":64,"box":{"x":593,"y":411,"width":196,"height":7}},{"id":"68b42197-90ec-4238-a983-c20e84cf1d98","block_type":"box","text":"(185)","page_number":64,"box":{"x":841,"y":411,"width":26,"height":7}},{"id":"6fd05bb9-e744-46d4-93f6-261988c287b3","block_type":"box","text":"(0.02)","page_number":64,"box":{"x":911,"y":411,"width":29,"height":7}},{"id":"a7468516-e08a-41bf-88a8-6660152ca0ac","block_type":"box","text":"521","page_number":64,"box":{"x":566,"y":420,"width":17,"height":6}},{"id":"0962f32a-e74a-488b-a8f6-79b93496cfee","block_type":"box","text":"NYF MSCI Emerging Market Future","page_number":64,"box":{"x":593,"y":420,"width":185,"height":8}},{"id":"f8dd335f-9ad2-4858-a679-aa60904813f4","block_type":"box","text":"September 2026","page_number":64,"box":{"x":593,"y":430,"width":86,"height":7}},{"id":"2108658c-0ff9-4e75-b2c6-6199e2bba483","block_type":"box","text":"(669)","page_number":64,"box":{"x":841,"y":430,"width":26,"height":7}},{"id":"0aa728bd-ab63-4ec5-b2d5-36c735b97524","block_type":"box","text":"(0.07)","page_number":64,"box":{"x":911,"y":430,"width":29,"height":7}},{"id":"ca1ca512-54b8-4402-bacb-b644bd2626b9","block_type":"box","text":"509","page_number":64,"box":{"x":566,"y":439,"width":19,"height":6}},{"id":"7dea73cb-4128-4bca-b5ba-463c5e14585d","block_type":"box","text":"OSE Nikkei 225 Mini September 2026","page_number":64,"box":{"x":593,"y":439,"width":197,"height":8}},{"id":"0685be83-5f71-4970-bf20-2ae09a39d71e","block_type":"box","text":"315","page_number":64,"box":{"x":845,"y":439,"width":18,"height":6}},{"id":"c59879c5-8642-4b5d-8c34-0eb94a998365","block_type":"box","text":"0.03","page_number":64,"box":{"x":914,"y":439,"width":22,"height":6}},{"id":"d5e28a88-53aa-49dd-bfb8-07922bbf27bd","block_type":"box","text":"92","page_number":64,"box":{"x":573,"y":449,"width":12,"height":6}},{"id":"8f9ab6e6-53c7-4fb6-b597-f6a9c1aec96e","block_type":"box","text":"OSE Topix Index Future September 2026","page_number":64,"box":{"x":593,"y":449,"width":214,"height":7}},{"id":"c81c02dc-e941-46de-81f2-ee195e871e3e","block_type":"box","text":"69","page_number":64,"box":{"x":851,"y":449,"width":12,"height":6}},{"id":"1c8d2b87-52d1-4f83-b8a8-3420507cde65","block_type":"box","text":"0.01","page_number":64,"box":{"x":914,"y":449,"width":21,"height":6}},{"id":"2488f29a-6678-42bd-82cd-3bc1716e50de","block_type":"box","text":"(236)","page_number":64,"box":{"x":558,"y":458,"width":27,"height":8}},{"id":"f6d20b1c-6a85-43e0-a387-1e99ef8ee6e6","block_type":"box","text":"SFE SPI 200 Future September 2026","page_number":64,"box":{"x":593,"y":458,"width":194,"height":8}},{"id":"d93adaf8-5486-4502-8911-f76481a0e714","block_type":"box","text":"340","page_number":64,"box":{"x":845,"y":458,"width":18,"height":6}},{"id":"2fa670e2-3a98-4407-a77d-97a718550f52","block_type":"box","text":"0.04","page_number":64,"box":{"x":914,"y":458,"width":22,"height":6}},{"id":"be3209f9-8c79-4328-b4dc-b4fe28271d9b","block_type":"box","text":"Total Futures","page_number":64,"box":{"x":521,"y":474,"width":73,"height":6}},{"id":"8769fef7-bde4-4f17-9b5b-d658e64e7bcf","block_type":"box","text":"590","page_number":64,"box":{"x":845,"y":474,"width":18,"height":6}},{"id":"6bbc7250-02f2-4d83-9f57-bff645879f03","block_type":"box","text":"0.06","page_number":64,"box":{"x":914,"y":474,"width":22,"height":6}},{"id":"9fe609f3-104a-48b8-99e4-c7f8e291f3ce","block_type":"box","text":"Total value of investments","page_number":64,"box":{"x":521,"y":516,"width":146,"height":6}},{"id":"aef31196-4adb-4be3-b359-602c4645ab12","block_type":"box","text":"^","page_number":64,"box":{"x":668,"y":516,"width":3,"height":2}},{"id":"c0a0be83-67bc-4107-8297-43f0ddaa7fe2","block_type":"box","text":"918,697","page_number":64,"box":{"x":822,"y":516,"width":41,"height":8}},{"id":"c4a40683-7e87-433c-abc9-b623d8f29648","block_type":"box","text":"97.85","page_number":64,"box":{"x":908,"y":516,"width":28,"height":6}},{"id":"7b6762a9-29bb-45fd-910d-0df46eb7aeb3","block_type":"box","text":"Net other assets","page_number":64,"box":{"x":522,"y":533,"width":90,"height":6}},{"id":"af4fece3-ad01-4731-8747-4e4209762b05","block_type":"box","text":"20,231","page_number":64,"box":{"x":828,"y":533,"width":34,"height":7}},{"id":"9a52f25d-9792-4ec7-b9f6-1326ab7b65e1","block_type":"box","text":"2.15","page_number":64,"box":{"x":914,"y":533,"width":22,"height":6}},{"id":"bc82fa6d-54af-4965-a8dd-638017e9b839","block_type":"box","text":"Total net assets","page_number":64,"box":{"x":521,"y":549,"width":87,"height":6}},{"id":"7e9f7ce1-a62f-4c36-8611-15297e744bfa","block_type":"box","text":"938,928","page_number":64,"box":{"x":822,"y":549,"width":41,"height":7}},{"id":"9f8677b0-cede-4bd9-8ff1-ebfda7d9b267","block_type":"box","text":"100.00","page_number":64,"box":{"x":902,"y":549,"width":34,"height":6}},{"id":"642dded4-1d5b-412d-8669-e7df221186c1","block_type":"box","text":"†","page_number":64,"box":{"x":521,"y":566,"width":4,"height":5}},{"id":"463c609a-bc61-479b-8bde-5d64f962c06e","block_type":"box","text":"Related Party","page_number":64,"box":{"x":529,"y":566,"width":72,"height":8}},{"id":"f8ab17ec-1d60-42df-b36c-370919c1478c","block_type":"box","text":"* Unlisted","page_number":64,"box":{"x":521,"y":580,"width":51,"height":6}},{"id":"32d3b11d-e53b-4e4e-ad6c-bfaea55ceb09","block_type":"box","text":"+","page_number":64,"box":{"x":521,"y":595,"width":4,"height":2}},{"id":"98cc5017-5b4a-46d5-a192-9a587dd10975","block_type":"box","text":"Value less than £1,000","page_number":64,"box":{"x":528,"y":594,"width":122,"height":8}},{"id":"7cf4bc1b-212b-40b6-8ff1-abf847e5186f","block_type":"box","text":"^","page_number":64,"box":{"x":521,"y":608,"width":3,"height":2}},{"id":"c33c9b6f-7932-45c5-bb7f-bea2b3c88558","block_type":"box","text":"Including investment liabilities","page_number":64,"box":{"x":529,"y":608,"width":157,"height":8}},{"id":"52eea45b-ab40-42c8-ae59-4a2b94213ed2","block_type":"box","text":"All investments, except collective investment schemes and forward currency","page_number":64,"box":{"x":521,"y":622,"width":421,"height":8}},{"id":"419474d2-373f-4e88-a12e-06d190710631","block_type":"box","text":"contracts, are listed on recognised stock exchanges and are “approved","page_number":64,"box":{"x":521,"y":633,"width":420,"height":8}},{"id":"5abc1b65-aa78-4809-a915-f06223f20342","block_type":"box","text":"securities” within the meaning of the FCA rules unless otherwise stated.","page_number":64,"box":{"x":521,"y":644,"width":381,"height":8}},{"id":"d3656688-9701-481e-b5ae-624a22df03ad","block_type":"box","text":"Royal London Multi Asset Strategies Fund | Royal London Multi-Asset Funds ICVC","page_number":64,"box":{"x":475,"y":33,"width":438,"height":8}},{"id":"748b997a-2ce6-4a7f-92c2-ddb1fceb4f54","block_type":"box","text":"64","page_number":64,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"46bb2a14-f746-4a65-b5fd-535bdadbef37","block_type":"box","text":"Summary of Material Portfolio Changes","page_number":65,"box":{"x":57,"y":94,"width":470,"height":14}},{"id":"a76200d1-1017-4629-bd71-98eae17759a9","block_type":"box","text":"For the six month period ended 30","page_number":65,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"40ebb9b5-0516-423e-9f5b-af4275d3171b","block_type":"box","text":"June 2026","page_number":65,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"6170fb86-d4b7-4e95-a82d-c01bdcc7f99f","block_type":"box","text":"Significant Purchases","page_number":65,"box":{"x":57,"y":151,"width":203,"height":11}},{"id":"503cfa7a-68ed-4fe8-bca2-9c8a7d679c10","block_type":"box","text":"Cost","page_number":65,"box":{"x":447,"y":177,"width":26,"height":6}},{"id":"4c6fbd29-4ea8-404c-b9b1-10bc81be209a","block_type":"box","text":"£’000","page_number":65,"box":{"x":443,"y":186,"width":30,"height":6}},{"id":"dce139e7-a4b3-4bdf-8979-233da181e332","block_type":"box","text":"Royal London Sterling Liquidity Money Market Fund R Inc","page_number":65,"box":{"x":58,"y":205,"width":305,"height":7}},{"id":"f2141487-17c3-4247-b11a-c704e4ad7757","block_type":"box","text":"108,432","page_number":65,"box":{"x":431,"y":205,"width":42,"height":7}},{"id":"6e0a07e8-05cf-4515-b9ee-739071708570","block_type":"box","text":"Invesco Physical Gold ETC","page_number":65,"box":{"x":58,"y":222,"width":144,"height":8}},{"id":"721bf969-5e1a-4788-98d4-56b7a49c94e1","block_type":"box","text":"40,633","page_number":65,"box":{"x":436,"y":222,"width":37,"height":7}},{"id":"7f4273bb-da9f-4e3e-a840-40571e32dac2","block_type":"box","text":"iShares Physical Gold ETC","page_number":65,"box":{"x":57,"y":240,"width":144,"height":7}},{"id":"9b01a1e9-0fa3-4597-bbca-10ad7d3244db","block_type":"box","text":"20,366","page_number":65,"box":{"x":436,"y":240,"width":37,"height":7}},{"id":"401658e5-731c-4095-954a-441dfbe71257","block_type":"box","text":"Wisdomtree Enhanced Commodity UCITS ETF","page_number":65,"box":{"x":57,"y":257,"width":251,"height":8}},{"id":"183c2f37-2f8e-4b9d-a933-266cfdfc1e41","block_type":"box","text":"12,680","page_number":65,"box":{"x":438,"y":257,"width":35,"height":7}},{"id":"0634dde1-dad5-4d66-9ce3-b9851305f4aa","block_type":"box","text":"Royal London UK Government Bond Fund R Acc","page_number":65,"box":{"x":58,"y":275,"width":259,"height":7}},{"id":"c79320e0-befb-43f0-b321-fd7332b936ab","block_type":"box","text":"9,745","page_number":65,"box":{"x":445,"y":275,"width":28,"height":7}},{"id":"3e7fd8d7-d4b4-4d4f-8500-8f813dd9f0f2","block_type":"box","text":"Royal London Investment Grade Short Dated Credit Fund R Acc","page_number":65,"box":{"x":58,"y":292,"width":340,"height":8}},{"id":"204f5ae3-1143-4d5c-afa4-fde12b3b7eb7","block_type":"box","text":"6,310","page_number":65,"box":{"x":444,"y":292,"width":29,"height":7}},{"id":"9571ec6f-e3e5-4a10-b5fa-d8826c63fc9d","block_type":"box","text":"Royal London International Government Bond Fund R Acc","page_number":65,"box":{"x":58,"y":310,"width":309,"height":7}},{"id":"ae5b9ae5-2287-4463-90ff-7cc28b6ae71e","block_type":"box","text":"6,192","page_number":65,"box":{"x":445,"y":310,"width":28,"height":7}},{"id":"161fed6d-251d-4676-8be3-d157aba65ba0","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":65,"box":{"x":58,"y":327,"width":295,"height":8}},{"id":"dab4b21a-a70b-4909-b428-3937782a7a97","block_type":"box","text":"5,306","page_number":65,"box":{"x":443,"y":327,"width":30,"height":7}},{"id":"e2642ce4-690e-4f42-9fdc-aadf5364647d","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt Fund R Acc","page_number":65,"box":{"x":58,"y":345,"width":275,"height":7}},{"id":"443874b9-8d43-48be-84e3-90f4ba485e24","block_type":"box","text":"5,210","page_number":65,"box":{"x":444,"y":345,"width":29,"height":7}},{"id":"d4322dd1-981f-4621-b72a-15d4aae3416a","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":65,"box":{"x":58,"y":362,"width":214,"height":8}},{"id":"2ff86572-c9e0-4db3-84b3-4009207e09cc","block_type":"box","text":"3,881","page_number":65,"box":{"x":444,"y":362,"width":27,"height":7}},{"id":"e3910a13-52cd-44e8-ae9e-6fa1661f9508","block_type":"box","text":"Subtotal","page_number":65,"box":{"x":57,"y":380,"width":48,"height":6}},{"id":"d79ea5f3-3de5-4205-bbcf-7aac951cb29e","block_type":"box","text":"218,755","page_number":65,"box":{"x":431,"y":380,"width":42,"height":7}},{"id":"48c10f6a-a7a5-4af8-b077-824314186d19","block_type":"box","text":"Total cost of purchases, including the above, for the period","page_number":65,"box":{"x":57,"y":397,"width":339,"height":8}},{"id":"afd08bd9-57a6-4949-a7ff-fe3876e2568b","block_type":"box","text":"233,550","page_number":65,"box":{"x":430,"y":397,"width":43,"height":8}},{"id":"1d42c313-043b-4862-8064-721908c798a3","block_type":"box","text":"Significant Sales","page_number":65,"box":{"x":522,"y":151,"width":156,"height":11}},{"id":"4d29bf3f-58dc-47f2-a936-74459f661cc5","block_type":"box","text":"Proceeds","page_number":65,"box":{"x":884,"y":177,"width":53,"height":6}},{"id":"53805da6-029c-468a-9a7c-09a63cf161d7","block_type":"box","text":"£’000","page_number":65,"box":{"x":907,"y":186,"width":30,"height":6}},{"id":"2fc139df-1d40-4706-a05c-cff8d270ffb9","block_type":"box","text":"Royal London Sterling Liquidity Money Market Fund R Inc","page_number":65,"box":{"x":522,"y":205,"width":306,"height":7}},{"id":"1c202332-3b32-4233-b3d2-0e1e5528b738","block_type":"box","text":"62,398","page_number":65,"box":{"x":901,"y":205,"width":36,"height":7}},{"id":"6307f9e7-986f-4c3d-a175-eb3b897fbf72","block_type":"box","text":"Invesco Physical Gold ETC","page_number":65,"box":{"x":522,"y":222,"width":144,"height":8}},{"id":"22602f4d-5676-428c-85fd-a69e6c7be4cc","block_type":"box","text":"56,048","page_number":65,"box":{"x":901,"y":222,"width":36,"height":7}},{"id":"cc3ffc24-6eb6-4222-a46d-4e86673781f1","block_type":"box","text":"iShares Physical Gold ETC","page_number":65,"box":{"x":522,"y":240,"width":144,"height":7}},{"id":"27d6ec6b-0449-4fc4-b00d-1d7ded464b53","block_type":"box","text":"36,476","page_number":65,"box":{"x":902,"y":240,"width":35,"height":7}},{"id":"766a5931-08cb-4521-8698-d58dd6bb0c03","block_type":"box","text":"Royal London Global High Yield Bond Fund R Acc","page_number":65,"box":{"x":522,"y":257,"width":266,"height":8}},{"id":"cb55149d-7c5b-4651-9274-1934ca160da8","block_type":"box","text":"27,726","page_number":65,"box":{"x":903,"y":257,"width":34,"height":7}},{"id":"cb3aa003-21d3-47ec-bd3e-6a2a8130eb1d","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt Fund R Acc","page_number":65,"box":{"x":522,"y":275,"width":275,"height":7}},{"id":"73887f60-d342-4a27-8596-f61b895a6851","block_type":"box","text":"24,668","page_number":65,"box":{"x":901,"y":275,"width":36,"height":7}},{"id":"390cab35-9a8f-49f6-b73b-70bb83e6c9d0","block_type":"box","text":"iShares Bloomberg Roll Select Commodity Swap UCITS ETF","page_number":65,"box":{"x":522,"y":292,"width":325,"height":8}},{"id":"a32362ff-6f2b-411d-93a3-4c6bf415834f","block_type":"box","text":"17,397","page_number":65,"box":{"x":904,"y":292,"width":33,"height":7}},{"id":"920e73fe-9b5c-4f84-8090-77fe9fa21ecb","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":65,"box":{"x":522,"y":310,"width":295,"height":7}},{"id":"08ed4da9-2f6f-419f-ab4c-24fc5328cb07","block_type":"box","text":"17,030","page_number":65,"box":{"x":904,"y":310,"width":33,"height":7}},{"id":"79e2ea18-6f30-4d98-96b2-da019d22517c","block_type":"box","text":"Royal London Japan Equity Tilt Fund R Acc","page_number":65,"box":{"x":522,"y":327,"width":230,"height":8}},{"id":"30dc5441-43a3-4a23-a115-e9835b3b218e","block_type":"box","text":"9,405","page_number":65,"box":{"x":908,"y":327,"width":29,"height":7}},{"id":"5784558d-a371-4b27-8b5f-c2f34dab64b5","block_type":"box","text":"Royal London UK Government Bond Fund R Acc","page_number":65,"box":{"x":522,"y":345,"width":259,"height":7}},{"id":"160c5b8d-cba3-46d7-8e15-9db9ca67a6df","block_type":"box","text":"7,371","page_number":65,"box":{"x":910,"y":345,"width":25,"height":7}},{"id":"19768c0d-ab33-4827-9025-aa4c47af82fe","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":65,"box":{"x":522,"y":362,"width":214,"height":8}},{"id":"cf3d2f3a-5332-4838-8442-43bf699871d8","block_type":"box","text":"7,235","page_number":65,"box":{"x":909,"y":362,"width":28,"height":7}},{"id":"210f5479-8d85-410c-a2de-60bc1542233b","block_type":"box","text":"Subtotal","page_number":65,"box":{"x":521,"y":380,"width":48,"height":6}},{"id":"cce09363-3dd4-4d46-bb01-86f22322d614","block_type":"box","text":"265,754","page_number":65,"box":{"x":894,"y":380,"width":43,"height":7}},{"id":"ebc9251f-7fde-4806-9fe5-b8b862cb6bba","block_type":"box","text":"Total proceeds from sales, including the above, for the period","page_number":65,"box":{"x":521,"y":397,"width":347,"height":8}},{"id":"208e4a2a-29bb-47c3-bf3e-231630834896","block_type":"box","text":"295,349","page_number":65,"box":{"x":894,"y":397,"width":43,"height":8}},{"id":"aa0207c9-8247-40b6-a609-40bb54ed558a","block_type":"box","text":"Royal London Multi Asset Strategies Fund | Royal London Multi-Asset Funds ICVC","page_number":65,"box":{"x":475,"y":33,"width":438,"height":8}},{"id":"aa07715c-2073-46cd-b1b0-d352946b1146","block_type":"box","text":"65","page_number":65,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"d4e5b4a9-cad6-4c65-9888-4e33d1628043","block_type":"box","text":"Financial Statements","page_number":66,"box":{"x":58,"y":94,"width":253,"height":11}},{"id":"748f367f-ef61-4209-8603-b0d9a325104b","block_type":"box","text":"Statement of Total Return","page_number":66,"box":{"x":57,"y":151,"width":241,"height":9}},{"id":"60221241-6f8a-4683-9869-3255a7a634de","block_type":"box","text":"For the six month period ended 30","page_number":66,"box":{"x":58,"y":169,"width":231,"height":10}},{"id":"c6674182-1162-4004-82c0-558ec92a5975","block_type":"box","text":"June 2026","page_number":66,"box":{"x":294,"y":169,"width":70,"height":8}},{"id":"2574ea0d-b40a-4c28-a52e-34409f900376","block_type":"box","text":"30 Jun 2026","page_number":66,"box":{"x":264,"y":198,"width":66,"height":6}},{"id":"3df52ef1-2b74-4c18-b864-9efbdc4e364c","block_type":"box","text":"30 Jun 2025","page_number":66,"box":{"x":407,"y":198,"width":66,"height":6}},{"id":"3ca325e3-473e-4d82-9130-422da5536067","block_type":"box","text":"£’000","page_number":66,"box":{"x":229,"y":207,"width":29,"height":6}},{"id":"f6f7e8c7-a86f-4502-9c7c-0c7580f8600e","block_type":"box","text":"£’000","page_number":66,"box":{"x":300,"y":207,"width":30,"height":6}},{"id":"2d1082f9-ca84-4373-a490-8e50b60c6c4b","block_type":"box","text":"£’000","page_number":66,"box":{"x":371,"y":207,"width":30,"height":6}},{"id":"93e3833f-8b59-4dc8-b6be-90f15c599646","block_type":"box","text":"£’000","page_number":66,"box":{"x":443,"y":207,"width":30,"height":6}},{"id":"ffc6abc1-1d92-47b0-87b0-a8cbda66aaf4","block_type":"box","text":"Income","page_number":66,"box":{"x":58,"y":226,"width":38,"height":6}},{"id":"e93e8411-39eb-43a0-b12b-834cfdf36863","block_type":"box","text":"Net capital gains/","page_number":66,"box":{"x":69,"y":243,"width":92,"height":8}},{"id":"b52284b0-9111-480a-b301-0b56f566b417","block_type":"box","text":"(losses)","page_number":66,"box":{"x":69,"y":253,"width":41,"height":8}},{"id":"a929ac9a-5e63-4910-a084-ab206cb40e6e","block_type":"box","text":"56,507","page_number":66,"box":{"x":294,"y":243,"width":36,"height":8}},{"id":"aede8f09-bc98-4c2f-a3db-e36b4a1ef7d4","block_type":"box","text":"(10,931)","page_number":66,"box":{"x":435,"y":243,"width":42,"height":8}},{"id":"477b9a7e-624f-4931-9428-27555c627a4b","block_type":"box","text":"Revenue","page_number":66,"box":{"x":69,"y":270,"width":47,"height":6}},{"id":"a69a09ae-67ae-49e1-b257-3ae16fa4372d","block_type":"box","text":"12,316","page_number":66,"box":{"x":225,"y":270,"width":33,"height":8}},{"id":"74a165cc-8664-451f-8de1-7a90e79a2c2d","block_type":"box","text":"13,712","page_number":66,"box":{"x":368,"y":270,"width":33,"height":8}},{"id":"84759374-4d73-4cfc-bc89-d7dd2e834d47","block_type":"box","text":"Expenses","page_number":66,"box":{"x":58,"y":288,"width":51,"height":8}},{"id":"a34b8761-2805-477a-8924-86f36b056b7b","block_type":"box","text":"(466)","page_number":66,"box":{"x":236,"y":288,"width":27,"height":8}},{"id":"740c9d70-957c-457b-9b38-d05856a4278d","block_type":"box","text":"(443)","page_number":66,"box":{"x":379,"y":288,"width":26,"height":8}},{"id":"cfa9bdbf-1b69-4580-a056-0d7154b45d13","block_type":"box","text":"Interest payable and","page_number":66,"box":{"x":58,"y":305,"width":107,"height":8}},{"id":"90f99ca7-3a9d-422d-ba65-98928afdfd88","block_type":"box","text":"similar expenses","page_number":66,"box":{"x":57,"y":315,"width":89,"height":8}},{"id":"88a6ac8a-647a-4205-880d-6b0bf6819b4f","block_type":"box","text":"–","page_number":66,"box":{"x":252,"y":309,"width":7,"height":0}},{"id":"c17718f1-5500-49ad-8d4c-6bef1dc618b4","block_type":"box","text":"(1)","page_number":66,"box":{"x":393,"y":305,"width":12,"height":8}},{"id":"0a54593c-d1b7-4a0c-87ca-005e6c6c517c","block_type":"box","text":"Net revenue before","page_number":66,"box":{"x":58,"y":332,"width":101,"height":6}},{"id":"118b7bd2-0086-4383-978a-0f85c9d5410e","block_type":"box","text":"taxation","page_number":66,"box":{"x":57,"y":342,"width":42,"height":6}},{"id":"a2bb3a23-2598-4b35-9a0c-52476789cf8c","block_type":"box","text":"11,850","page_number":66,"box":{"x":225,"y":332,"width":33,"height":8}},{"id":"6ec42c5a-6141-429f-bdd7-cadf10431b9e","block_type":"box","text":"13,268","page_number":66,"box":{"x":366,"y":332,"width":35,"height":8}},{"id":"b4f94967-5f4f-4956-9747-5bb9945afe64","block_type":"box","text":"Taxation","page_number":66,"box":{"x":57,"y":359,"width":44,"height":6}},{"id":"73a56e92-4210-4d3c-b7e9-7fedbce228be","block_type":"box","text":"–","page_number":66,"box":{"x":252,"y":363,"width":7,"height":1}},{"id":"9f75914a-02b2-43d3-be64-bdea44ad5411","block_type":"box","text":"–","page_number":66,"box":{"x":395,"y":363,"width":7,"height":1}},{"id":"aa082a17-1574-4784-b672-847f04a0488d","block_type":"box","text":"Net revenue after","page_number":66,"box":{"x":58,"y":377,"width":92,"height":6}},{"id":"fa6cde5e-4da6-4955-8b39-15216cd1a083","block_type":"box","text":"taxation","page_number":66,"box":{"x":57,"y":386,"width":42,"height":6}},{"id":"82de7c5c-258b-4f8a-9158-ed9df8ababce","block_type":"box","text":"11,850","page_number":66,"box":{"x":296,"y":377,"width":34,"height":7}},{"id":"69639b5e-7bf4-4ead-b55d-00b7b3f8ac51","block_type":"box","text":"13,268","page_number":66,"box":{"x":438,"y":377,"width":35,"height":7}},{"id":"3a88d378-c247-4150-a646-9a87aee04182","block_type":"box","text":"Total return before","page_number":66,"box":{"x":57,"y":404,"width":98,"height":6}},{"id":"285af3a1-5cf5-4bfd-a0d7-4a969b48b649","block_type":"box","text":"distributions","page_number":66,"box":{"x":57,"y":413,"width":64,"height":6}},{"id":"af9111aa-423a-4a1e-8f4b-19284f9b1546","block_type":"box","text":"68,357","page_number":66,"box":{"x":294,"y":404,"width":36,"height":7}},{"id":"6e9f0628-3179-4f9e-a436-0b1bd1485c7f","block_type":"box","text":"2,337","page_number":66,"box":{"x":444,"y":404,"width":29,"height":7}},{"id":"6aa70786-a6c9-4d74-8b8c-3a5da7077dee","block_type":"box","text":"Distributions","page_number":66,"box":{"x":58,"y":431,"width":65,"height":6}},{"id":"d83f7e7f-2f8a-4e70-9ffc-e932c0494199","block_type":"box","text":"(11,850)","page_number":66,"box":{"x":292,"y":431,"width":42,"height":8}},{"id":"1c5897c8-f981-4042-a613-46ad26d1656f","block_type":"box","text":"(13,268)","page_number":66,"box":{"x":434,"y":431,"width":43,"height":8}},{"id":"b7d70736-1845-418d-b2e2-a9a568320eef","block_type":"box","text":"Change in net assets","page_number":66,"box":{"x":57,"y":448,"width":120,"height":8}},{"id":"2ef2323c-aad1-40cb-802c-0075a5ef9b71","block_type":"box","text":"attributable to","page_number":66,"box":{"x":57,"y":458,"width":81,"height":6}},{"id":"659240ad-43f5-4224-bc73-f3c3b55760a1","block_type":"box","text":"shareholders from","page_number":66,"box":{"x":57,"y":467,"width":106,"height":6}},{"id":"69f27076-cfe9-44e9-bc2d-5e6d12679fb2","block_type":"box","text":"investment activities","page_number":66,"box":{"x":57,"y":477,"width":119,"height":6}},{"id":"44f0d8ff-957e-4d9d-b03d-076814d89f51","block_type":"box","text":"56,507","page_number":66,"box":{"x":294,"y":448,"width":36,"height":8}},{"id":"349ba797-899a-4ce0-9da6-faf28181e255","block_type":"box","text":"(10,931)","page_number":66,"box":{"x":434,"y":448,"width":43,"height":8}},{"id":"7bbfd366-8270-4005-a925-6c6cf3e6564f","block_type":"box","text":"Statement of Change in Net Assets","page_number":66,"box":{"x":57,"y":522,"width":332,"height":11}},{"id":"cf2856db-6a09-4d2c-b48c-a40d0fb5042f","block_type":"box","text":"Attributable to Shareholders","page_number":66,"box":{"x":57,"y":536,"width":265,"height":9}},{"id":"753bf778-1b03-4d17-aacd-d5bf2c14d60c","block_type":"box","text":"For the six month period ended 30","page_number":66,"box":{"x":58,"y":555,"width":231,"height":10}},{"id":"1c0b43e2-8b65-41a2-9b29-60c1cce4d705","block_type":"box","text":"June 2026","page_number":66,"box":{"x":294,"y":555,"width":70,"height":8}},{"id":"2f7b6ec2-8e1f-47d9-9169-de2c6724da3b","block_type":"box","text":"30 Jun 2024","page_number":66,"box":{"x":264,"y":583,"width":66,"height":6}},{"id":"7df93ddc-5489-4059-9acc-18d08f41443f","block_type":"box","text":"30 Jun 2025","page_number":66,"box":{"x":407,"y":583,"width":66,"height":6}},{"id":"16165188-8bac-41aa-9f42-0f12863980c5","block_type":"box","text":"£’000","page_number":66,"box":{"x":229,"y":593,"width":29,"height":6}},{"id":"600d3867-6fd4-4202-98d9-e03ec76a0850","block_type":"box","text":"£’000","page_number":66,"box":{"x":300,"y":593,"width":30,"height":6}},{"id":"f31780b4-d995-47a2-9d2e-0f091c700c73","block_type":"box","text":"£’000","page_number":66,"box":{"x":371,"y":593,"width":30,"height":6}},{"id":"a2c94393-0a2d-49be-9291-4b93ffcf0537","block_type":"box","text":"£’000","page_number":66,"box":{"x":443,"y":593,"width":30,"height":6}},{"id":"6bc7036b-e0b4-48a3-94f7-bebf1330ec76","block_type":"box","text":"Opening net assets","page_number":66,"box":{"x":57,"y":611,"width":111,"height":8}},{"id":"0ea197e0-efcd-44ae-9308-a981a7a097cf","block_type":"box","text":"attributable to","page_number":66,"box":{"x":57,"y":621,"width":81,"height":6}},{"id":"fe98227d-8985-46d5-be9b-636151212b02","block_type":"box","text":"shareholders","page_number":66,"box":{"x":57,"y":630,"width":76,"height":6}},{"id":"276e5745-3e62-428f-b1f4-2ad3c5d77d2d","block_type":"box","text":"920,800","page_number":66,"box":{"x":287,"y":611,"width":43,"height":7}},{"id":"7709fd7b-f779-4fa7-bdff-322f104df456","block_type":"box","text":"886,962","page_number":66,"box":{"x":430,"y":611,"width":43,"height":7}},{"id":"c5919561-0ffa-4338-aa8d-2c7c65b010b0","block_type":"box","text":"Issue of shares","page_number":66,"box":{"x":58,"y":648,"width":80,"height":6}},{"id":"3886b378-4bde-4ca7-88dd-fb8a100fbcb8","block_type":"box","text":"680","page_number":66,"box":{"x":239,"y":648,"width":19,"height":6}},{"id":"b90301fc-29cb-4f82-97b4-a438207381be","block_type":"box","text":"8,420","page_number":66,"box":{"x":372,"y":648,"width":29,"height":7}},{"id":"cbcd19a4-fa2b-4336-a421-c2cd86aeba18","block_type":"box","text":"Cancellation of shares","page_number":66,"box":{"x":57,"y":665,"width":119,"height":6}},{"id":"640f15a4-1c1f-40be-ba3e-94c54316c25f","block_type":"box","text":"(50,635)","page_number":66,"box":{"x":219,"y":665,"width":44,"height":8}},{"id":"81692c66-e64b-4d62-b4a1-efca82189f43","block_type":"box","text":"(54)","page_number":66,"box":{"x":386,"y":665,"width":19,"height":8}},{"id":"f311a1ab-cd49-4b84-ba81-d405662d28d5","block_type":"box","text":"(49,955)","page_number":66,"box":{"x":290,"y":683,"width":44,"height":7}},{"id":"ba5da751-7ef6-4088-b6f4-78a20bc703f5","block_type":"box","text":"8,366","page_number":66,"box":{"x":443,"y":683,"width":30,"height":7}},{"id":"438945c5-df37-41fb-8136-a172dd7eb15b","block_type":"box","text":"Change in net","page_number":66,"box":{"x":57,"y":700,"width":74,"height":8}},{"id":"c851c5f1-1356-4f7a-a9f8-be048be5b1f7","block_type":"box","text":"assets attributable","page_number":66,"box":{"x":57,"y":710,"width":98,"height":6}},{"id":"74282099-ca8b-46da-8d73-44e576420abe","block_type":"box","text":"to shareholders from","page_number":66,"box":{"x":57,"y":719,"width":110,"height":6}},{"id":"b5e6e9ce-66e0-4b22-b5b8-48e6d8c7f3b9","block_type":"box","text":"investment activities","page_number":66,"box":{"x":57,"y":729,"width":108,"height":6}},{"id":"53be7a56-f45b-4a18-a268-f103b15b7476","block_type":"box","text":"56,507","page_number":66,"box":{"x":294,"y":700,"width":36,"height":7}},{"id":"950004ae-1e85-41a3-bcd9-4578e60a16d6","block_type":"box","text":"(10,931)","page_number":66,"box":{"x":435,"y":700,"width":42,"height":8}},{"id":"0c3bdb00-283e-499f-b467-0d7e49a10991","block_type":"box","text":"Retained distributions on","page_number":66,"box":{"x":58,"y":746,"width":131,"height":6}},{"id":"a95b32f7-1e4f-41f8-a4b1-cb7734820cc8","block_type":"box","text":"accumulation shares","page_number":66,"box":{"x":57,"y":756,"width":110,"height":6}},{"id":"253aca68-987d-4e56-ae3f-690c97df2bc5","block_type":"box","text":"11,576","page_number":66,"box":{"x":297,"y":746,"width":33,"height":7}},{"id":"e21f3df9-099c-4baf-81eb-c641990e99b5","block_type":"box","text":"13,357","page_number":66,"box":{"x":438,"y":746,"width":35,"height":7}},{"id":"dbbb6195-3313-43e9-8580-09eb6f43d710","block_type":"box","text":"Closing net assets","page_number":66,"box":{"x":57,"y":773,"width":106,"height":8}},{"id":"192f6372-77a3-48c0-b04d-ee80037d1a3f","block_type":"box","text":"attributable to","page_number":66,"box":{"x":57,"y":783,"width":81,"height":6}},{"id":"f04ea032-f733-4a10-8aa0-5bdb8d8e0e40","block_type":"box","text":"shareholders","page_number":66,"box":{"x":57,"y":792,"width":76,"height":6}},{"id":"608cea44-bfbc-4cee-bd12-be2349b46e4a","block_type":"box","text":"938,928","page_number":66,"box":{"x":287,"y":773,"width":43,"height":7}},{"id":"8fb6f188-a915-43b2-a512-6e0d7ea5e012","block_type":"box","text":"897,754","page_number":66,"box":{"x":431,"y":773,"width":42,"height":7}},{"id":"b208425d-a95f-421c-8edf-4fbfc6088f9d","block_type":"box","text":"Balance Sheet","page_number":66,"box":{"x":522,"y":151,"width":134,"height":9}},{"id":"95a3791a-3ff7-4baa-ba6b-b920fd1fdec3","block_type":"box","text":"As at 30","page_number":66,"box":{"x":521,"y":169,"width":55,"height":8}},{"id":"f793d0f6-32ca-4615-9c7e-a1a4cd4b8250","block_type":"box","text":"June 2026","page_number":66,"box":{"x":582,"y":169,"width":70,"height":8}},{"id":"2119bc8f-fe60-4cca-89ca-b9f1c7f3ec0f","block_type":"box","text":"30 Jun 2026","page_number":66,"box":{"x":728,"y":198,"width":66,"height":6}},{"id":"e2d053b3-5da8-46e8-aa3e-e6e5b8782ffa","block_type":"box","text":"31 Dec 2025","page_number":66,"box":{"x":871,"y":198,"width":66,"height":6}},{"id":"ed82e5f3-a0e6-4c23-b7b8-bef883ab9757","block_type":"box","text":"£’000","page_number":66,"box":{"x":764,"y":207,"width":30,"height":6}},{"id":"482674d2-8f37-42e3-9e6b-2cc3eb491a9d","block_type":"box","text":"£’000","page_number":66,"box":{"x":907,"y":207,"width":30,"height":6}},{"id":"897d8ac8-59c1-4eaf-aa21-24bbaaf96429","block_type":"box","text":"Assets","page_number":66,"box":{"x":521,"y":226,"width":39,"height":6}},{"id":"ab896f74-127d-4e71-be63-f0ce6846f7dc","block_type":"box","text":"Investments","page_number":66,"box":{"x":522,"y":243,"width":63,"height":6}},{"id":"e1cd10aa-5bba-47d0-872c-390419e020be","block_type":"box","text":"920,788","page_number":66,"box":{"x":752,"y":243,"width":42,"height":7}},{"id":"99e514ca-2b65-4433-99c1-20cb1fff7dbb","block_type":"box","text":"912,580","page_number":66,"box":{"x":895,"y":243,"width":42,"height":7}},{"id":"95de4553-f39b-494a-82a7-d4ee0df4fee6","block_type":"box","text":"Amounts receivable","page_number":66,"box":{"x":521,"y":261,"width":106,"height":6}},{"id":"f61e9caf-0611-4b5f-9d2b-cc6519c35ea4","block_type":"box","text":"613","page_number":66,"box":{"x":776,"y":261,"width":18,"height":6}},{"id":"4c502acf-5826-4960-83e2-019c61baa8ed","block_type":"box","text":"1,447","page_number":66,"box":{"x":909,"y":261,"width":28,"height":7}},{"id":"e6115daf-5b16-4167-849e-31118ced62b6","block_type":"box","text":"Cash and cash","page_number":66,"box":{"x":522,"y":278,"width":78,"height":6}},{"id":"0b9d847a-97a2-4db6-946f-7c28b59b512c","block_type":"box","text":"equivalents","page_number":66,"box":{"x":521,"y":288,"width":61,"height":7}},{"id":"95daba32-9417-4977-80d4-f5e89a500231","block_type":"box","text":"51,847","page_number":66,"box":{"x":760,"y":278,"width":34,"height":7}},{"id":"f629caf7-790d-491a-b132-65107f62decc","block_type":"box","text":"41,239","page_number":66,"box":{"x":902,"y":278,"width":35,"height":7}},{"id":"495f01be-6819-4671-aa5c-dc0e9e2635a3","block_type":"box","text":"Total assets","page_number":66,"box":{"x":521,"y":305,"width":64,"height":6}},{"id":"d37edd5f-a4be-426b-9a05-3407c4263a99","block_type":"box","text":"973,248","page_number":66,"box":{"x":752,"y":305,"width":42,"height":7}},{"id":"8dafbcb3-4a46-476e-993d-57bbe499b868","block_type":"box","text":"955,266","page_number":66,"box":{"x":894,"y":305,"width":43,"height":7}},{"id":"deda6641-19e1-4d83-8882-441733b1c99e","block_type":"box","text":"Liabilities","page_number":66,"box":{"x":522,"y":323,"width":55,"height":6}},{"id":"e747ea3f-6230-4d2e-8ef3-31034ab7ba26","block_type":"box","text":"Investments","page_number":66,"box":{"x":522,"y":340,"width":63,"height":6}},{"id":"e35aa36e-ee83-4f02-b9e3-9590e4170852","block_type":"box","text":"2,091","page_number":66,"box":{"x":765,"y":340,"width":28,"height":7}},{"id":"a1be6b6f-192b-4116-a061-32cce123b4a4","block_type":"box","text":"1,570","page_number":66,"box":{"x":909,"y":340,"width":28,"height":7}},{"id":"b7246b8c-5b79-4aa9-9d60-adca5e339a01","block_type":"box","text":"Bank overdrafts","page_number":66,"box":{"x":522,"y":358,"width":83,"height":6}},{"id":"18d6c84e-1257-4d02-b45f-374b30ff0a39","block_type":"box","text":"32,148","page_number":66,"box":{"x":760,"y":358,"width":34,"height":7}},{"id":"5993e2ce-3c42-4d45-9bcb-c2f8de0f6454","block_type":"box","text":"25,935","page_number":66,"box":{"x":901,"y":358,"width":36,"height":7}},{"id":"d53fdbeb-1b92-45b2-84df-7e4b3a5f3ce7","block_type":"box","text":"Distribution payable","page_number":66,"box":{"x":522,"y":375,"width":105,"height":8}},{"id":"329ec01d-70c0-4d2e-9203-0a1dc85a42d0","block_type":"box","text":"4","page_number":66,"box":{"x":788,"y":375,"width":6,"height":6}},{"id":"0d7ac032-d335-45b9-afee-f213c7cb8e5d","block_type":"box","text":"1","page_number":66,"box":{"x":932,"y":375,"width":3,"height":6}},{"id":"a79e11b6-adf7-40ea-83c0-8bfafa0748f2","block_type":"box","text":"Other amounts payable","page_number":66,"box":{"x":521,"y":393,"width":124,"height":7}},{"id":"521eaf8a-7531-456f-abdb-f660401a124b","block_type":"box","text":"77","page_number":66,"box":{"x":782,"y":393,"width":12,"height":6}},{"id":"360c8842-0b6d-48f9-90f0-49f9c853ee43","block_type":"box","text":"6,960","page_number":66,"box":{"x":907,"y":393,"width":30,"height":7}},{"id":"337a75a0-973d-4582-aafb-17e2211f9790","block_type":"box","text":"Total liabilities","page_number":66,"box":{"x":521,"y":410,"width":75,"height":6}},{"id":"9f69b40a-0751-4f70-8b1d-1e0467c0bf22","block_type":"box","text":"34,320","page_number":66,"box":{"x":758,"y":410,"width":36,"height":7}},{"id":"740a46a1-2dae-4931-a52d-79e1d0e3dc99","block_type":"box","text":"34,466","page_number":66,"box":{"x":901,"y":410,"width":36,"height":7}},{"id":"691eb3e0-e071-40da-b3a3-0204027346a9","block_type":"box","text":"Net assets","page_number":66,"box":{"x":522,"y":428,"width":59,"height":6}},{"id":"815650b0-da8c-48c2-b501-7a58b13d5c13","block_type":"box","text":"attributable to","page_number":66,"box":{"x":521,"y":437,"width":82,"height":6}},{"id":"5e7138b8-c4d0-401a-ad26-04da6b981f95","block_type":"box","text":"shareholders","page_number":66,"box":{"x":521,"y":447,"width":76,"height":6}},{"id":"d524cb28-eb04-4ee9-b92c-e77ba8a534d1","block_type":"box","text":"938,928","page_number":66,"box":{"x":751,"y":428,"width":43,"height":7}},{"id":"eb3a3a5a-c3b2-4173-bc1e-eac5f84e5098","block_type":"box","text":"920,800","page_number":66,"box":{"x":894,"y":428,"width":43,"height":7}},{"id":"7b9849d5-7739-4140-9f2a-fbf50cd847e4","block_type":"box","text":"Royal London Multi Asset Strategies Fund | Royal London Multi-Asset Funds ICVC","page_number":66,"box":{"x":475,"y":33,"width":438,"height":8}},{"id":"9cf7c434-d51c-4cca-b6f3-47c18629dc70","block_type":"box","text":"66","page_number":66,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"ea005b5a-7aec-4698-8dec-0a53e6f5d13b","block_type":"box","text":"Notes to the Financial Statements","page_number":67,"box":{"x":58,"y":94,"width":409,"height":11}},{"id":"7ecb9c87-35f3-4e75-9a95-2898697d81d4","block_type":"box","text":"For the six month period ended 30","page_number":67,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"90dec170-68cb-4356-af4b-751c65733057","block_type":"box","text":"June 2026","page_number":67,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"0dfe8bfa-4eb8-43c3-96aa-9dcf5f446e83","block_type":"box","text":"1. Accounting policies","page_number":67,"box":{"x":58,"y":151,"width":205,"height":11}},{"id":"f2bd105e-964c-482e-81bf-aefce0487201","block_type":"box","text":"The accounting policies are set out in note 1 on pages","page_number":67,"box":{"x":57,"y":169,"width":404,"height":10}},{"id":"68e22e39-f0e4-4c63-b1fd-521ce450a317","block_type":"box","text":"5","page_number":67,"box":{"x":470,"y":170,"width":7,"height":7}},{"id":"3543dfed-b80c-450e-b328-e4cc2200a7d3","block_type":"box","text":"and","page_number":67,"box":{"x":57,"y":184,"width":24,"height":8}},{"id":"ace867ce-e8aa-49af-b5ad-8d82501d583c","block_type":"box","text":"6","page_number":67,"box":{"x":87,"y":184,"width":7,"height":8}},{"id":"60051c30-0898-4547-a76b-db1f5e543e0c","block_type":"box","text":".","page_number":67,"box":{"x":96,"y":190,"width":2,"height":1}},{"id":"56d62449-fd70-44dc-8799-e88f6bcab67a","block_type":"box","text":"2. Related party transactions","page_number":67,"box":{"x":57,"y":210,"width":272,"height":12}},{"id":"cad07af5-2d05-457c-b6f3-733e3d9132ed","block_type":"box","text":"The Fund’s Authorised Corporate Director, Royal London","page_number":67,"box":{"x":57,"y":229,"width":420,"height":10}},{"id":"cca332e3-267c-4582-8b8d-84ec4c747534","block_type":"box","text":"Unit Trust Managers Limited, is a related party to the Fund","page_number":67,"box":{"x":58,"y":243,"width":419,"height":10}},{"id":"21572fcf-d91b-40fa-803a-e5a67b58d996","block_type":"box","text":"as defined by Financial Reporting Standard 102 ‘Related","page_number":67,"box":{"x":57,"y":257,"width":420,"height":10}},{"id":"aa439502-6188-4e39-93fd-dcbcea93ef11","block_type":"box","text":"Party Disclosures’.","page_number":67,"box":{"x":58,"y":272,"width":124,"height":10}},{"id":"be5f89c1-2a4d-49bc-9dc5-da5f8d7e5d07","block_type":"box","text":"Fund Management fees charged by Royal London Unit Trust","page_number":67,"box":{"x":58,"y":293,"width":420,"height":10}},{"id":"cd5f388f-7f1c-46c8-846a-e4f66399ae93","block_type":"box","text":"Managers Limited are disclosed within the expenses figure","page_number":67,"box":{"x":58,"y":307,"width":419,"height":10}},{"id":"3efe6af7-69ef-4aea-956d-841e95f8f44a","block_type":"box","text":"shown on the Statement of Total Return and details of shares","page_number":67,"box":{"x":57,"y":321,"width":421,"height":8}},{"id":"b35122b0-aa5e-4d86-a803-00edb61651b0","block_type":"box","text":"created and cancelled by Royal London Unit Trust Managers","page_number":67,"box":{"x":57,"y":336,"width":421,"height":9}},{"id":"5b781ae5-072a-47cf-b982-5f0beeb97b70","block_type":"box","text":"Limited are shown in the Statement of Change in Net Assets","page_number":67,"box":{"x":58,"y":350,"width":420,"height":10}},{"id":"028f6927-5fa8-441a-8597-d08eccb08c5f","block_type":"box","text":"Attributable to Shareholders and the Distribution figure shown","page_number":67,"box":{"x":57,"y":364,"width":420,"height":10}},{"id":"a415a002-3634-4357-9c46-3c67403e7a67","block_type":"box","text":"on the Statement of Total Return.","page_number":67,"box":{"x":57,"y":378,"width":223,"height":8}},{"id":"cd48e7b8-7074-4f6f-baed-a917acd36dca","block_type":"box","text":"At the six months period end the balance due to Royal London","page_number":67,"box":{"x":57,"y":399,"width":420,"height":10}},{"id":"7c7a5635-82a0-4a2c-86f6-235c801c5c9c","block_type":"box","text":"Unit Trust Managers Limited in respect of these transactions","page_number":67,"box":{"x":58,"y":413,"width":419,"height":10}},{"id":"5bb332dd-33d5-4611-afd6-89c1a4e8d80a","block_type":"box","text":"was £77,000 (31/12/25: £78,000).","page_number":67,"box":{"x":57,"y":428,"width":223,"height":10}},{"id":"7be65c83-6b3a-438f-b274-6df674cae993","block_type":"box","text":"Amounts due from Royal London Unit Trust Managers Limited in","page_number":67,"box":{"x":57,"y":449,"width":420,"height":10}},{"id":"f15b4865-b47b-4bec-bb0c-257ec044b7b9","block_type":"box","text":"respect of periodic charge rebates at the period end amounted","page_number":67,"box":{"x":58,"y":463,"width":419,"height":10}},{"id":"65df7492-dd71-47a7-8bd6-8cef2e256b6a","block_type":"box","text":"to £178,000 (31/12/25: £178,000).","page_number":67,"box":{"x":57,"y":477,"width":225,"height":10}},{"id":"7fe135ed-d0b5-4dfe-b1ce-36673106b36a","block_type":"box","text":"At the six months period end, 30 June 2026, 90.43% (31/12/25:","page_number":67,"box":{"x":57,"y":498,"width":420,"height":10}},{"id":"aff873ad-930d-44a0-b875-cbac874bd3f8","block_type":"box","text":"86.40%) of the shares in issue were held by The Royal London","page_number":67,"box":{"x":57,"y":512,"width":420,"height":10}},{"id":"0d780511-a866-49c8-af53-73e3ebff2a99","block_type":"box","text":"Mutual Insurance Society Limited. Royal London Unit Trust","page_number":67,"box":{"x":58,"y":527,"width":420,"height":10}},{"id":"b15972f6-1f01-40ab-8622-11b8d276593e","block_type":"box","text":"Managers Limited is a wholly owned subsidiary of The Royal","page_number":67,"box":{"x":58,"y":541,"width":419,"height":10}},{"id":"3e5a9252-93ac-40d9-8863-6bbb32a97ac8","block_type":"box","text":"London Mutual Insurance Society Limited.","page_number":67,"box":{"x":58,"y":555,"width":282,"height":10}},{"id":"8f895aa2-5697-40b8-a3e0-1007ff74f2f5","block_type":"box","text":"3. Fair value of investments","page_number":67,"box":{"x":522,"y":151,"width":255,"height":9}},{"id":"1975caa6-defc-4b2b-baac-1b97bf9bc202","block_type":"box","text":"The fair values of the Fund’s assets and liabilities are","page_number":67,"box":{"x":521,"y":169,"width":421,"height":8}},{"id":"1c973e2c-ea9b-4809-a70f-48e5b9ea2919","block_type":"box","text":"represented by the values shown in the balance sheet. There","page_number":67,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"1177eb05-b3c6-4fd9-af03-0718525c8cc1","block_type":"box","text":"is no material difference between the value of the financial","page_number":67,"box":{"x":522,"y":198,"width":419,"height":8}},{"id":"3d8f9651-0f96-4f66-841f-50c3c40132bf","block_type":"box","text":"assets and liabilities, as shown in the balance sheet, and their","page_number":67,"box":{"x":521,"y":212,"width":422,"height":9}},{"id":"f9418e82-55f5-45d3-a45c-7c67c1db47c1","block_type":"box","text":"fair value.","page_number":67,"box":{"x":521,"y":226,"width":64,"height":8}},{"id":"13b84d70-17ed-46f6-810b-0b65a93b7441","block_type":"box","text":"The fair value of investments has been determined using the","page_number":67,"box":{"x":521,"y":247,"width":421,"height":10}},{"id":"197b9e6b-ef88-455b-b36f-500e01477f4d","block_type":"box","text":"following hierarchy:","page_number":67,"box":{"x":521,"y":262,"width":130,"height":10}},{"id":"e46a2adf-78d6-4f29-bc79-ae9abc20bb23","block_type":"box","text":"Level 1","page_number":67,"box":{"x":522,"y":283,"width":45,"height":7}},{"id":"0e13c2dd-08cf-4f5b-8a32-1a8b81d19ab5","block_type":"box","text":"The unadjusted quoted price in an active market","page_number":67,"box":{"x":593,"y":283,"width":349,"height":10}},{"id":"9300b93c-d7bd-489a-8977-06db62a089b0","block_type":"box","text":"for identical assets or liabilities that the entity can","page_number":67,"box":{"x":592,"y":297,"width":349,"height":10}},{"id":"413a2666-e03b-4542-8fe9-0895fb22ae00","block_type":"box","text":"access at the measurement date.","page_number":67,"box":{"x":593,"y":311,"width":224,"height":8}},{"id":"ec321042-51f8-41ac-bec6-a97f22756b0f","block_type":"box","text":"Level 2","page_number":67,"box":{"x":522,"y":332,"width":47,"height":8}},{"id":"cdde1e67-a704-48bd-b8c9-b0bc619fd2ec","block_type":"box","text":"Inputs other than quoted prices included within","page_number":67,"box":{"x":594,"y":332,"width":347,"height":10}},{"id":"8626afb8-a34c-47d1-8a16-7e6d0809772f","block_type":"box","text":"Level 1 that are observable (i.e. developed using","page_number":67,"box":{"x":593,"y":346,"width":348,"height":10}},{"id":"85548b89-117e-40c1-9c54-5379f0d0819e","block_type":"box","text":"market data) for the asset or liability, either directly","page_number":67,"box":{"x":593,"y":361,"width":349,"height":10}},{"id":"99270b48-6de9-4483-836c-150e3d61a237","block_type":"box","text":"or indirectly.","page_number":67,"box":{"x":593,"y":375,"width":80,"height":10}},{"id":"92339b58-9443-4c2f-aea7-b3afb370e67a","block_type":"box","text":"Level 3","page_number":67,"box":{"x":522,"y":396,"width":47,"height":8}},{"id":"f8279404-cb3e-48cc-9b3c-dc64d2a44d8c","block_type":"box","text":"Inputs are unobservable (i.e. for which market data","page_number":67,"box":{"x":594,"y":396,"width":348,"height":10}},{"id":"07c1049c-8622-448c-8fb4-2a8150d9e68e","block_type":"box","text":"is unavailable) for the asset or liability.","page_number":67,"box":{"x":593,"y":410,"width":255,"height":10}},{"id":"bbb92bc0-ab45-41a9-beba-4907e56252a7","block_type":"box","text":"As at the period ended 30","page_number":67,"box":{"x":521,"y":431,"width":186,"height":10}},{"id":"d133819d-0b99-467d-a86e-0a294a4a4de8","block_type":"box","text":"June 2026","page_number":67,"box":{"x":713,"y":431,"width":73,"height":8}},{"id":"3453e290-0c5d-4395-9516-22046395a13e","block_type":"box","text":"Level","page_number":67,"box":{"x":522,"y":456,"width":28,"height":6}},{"id":"23fa85a6-39f0-4c5e-ae11-51e1b87b9b7f","block_type":"box","text":"1","page_number":67,"box":{"x":718,"y":456,"width":3,"height":6}},{"id":"fb8d1272-900f-4e05-8978-aa2d26af4cfb","block_type":"box","text":"2","page_number":67,"box":{"x":788,"y":456,"width":6,"height":6}},{"id":"97caf544-14db-49d8-80d5-258dfde44c63","block_type":"box","text":"3","page_number":67,"box":{"x":860,"y":456,"width":6,"height":6}},{"id":"67d866ee-c327-4583-80ac-d9630805bbf1","block_type":"box","text":"Total","page_number":67,"box":{"x":910,"y":456,"width":27,"height":6}},{"id":"9dbf6839-7570-44fb-8cb2-3dfd8d2f7ced","block_type":"box","text":"£’000","page_number":67,"box":{"x":693,"y":466,"width":30,"height":6}},{"id":"d2321dc7-7e65-4d15-bda5-380d273fa954","block_type":"box","text":"£’000","page_number":67,"box":{"x":764,"y":466,"width":30,"height":6}},{"id":"15aaebbb-17cc-4a01-b1b5-e3012f53287b","block_type":"box","text":"£’000","page_number":67,"box":{"x":836,"y":466,"width":30,"height":6}},{"id":"6fe2ea74-8bc4-47d1-9fcc-d79baa336ccd","block_type":"box","text":"£’000","page_number":67,"box":{"x":907,"y":466,"width":30,"height":6}},{"id":"173416e9-ad96-4d79-8ce2-6def30d5fb83","block_type":"box","text":"Investments","page_number":67,"box":{"x":522,"y":484,"width":69,"height":6}},{"id":"b18b35e7-66c3-4859-992a-47f0120ef19c","block_type":"box","text":"Exchange Traded","page_number":67,"box":{"x":522,"y":502,"width":92,"height":7}},{"id":"e2cbd49f-b981-4b14-aed7-7d7451b72058","block_type":"box","text":"Funds and","page_number":67,"box":{"x":522,"y":511,"width":54,"height":6}},{"id":"b55e84e3-41b4-48f0-8bc0-e9fe8c3d31a9","block_type":"box","text":"Commodities","page_number":67,"box":{"x":522,"y":521,"width":69,"height":6}},{"id":"21dcf4d9-3e7a-4350-8b2f-25ffb16c20ab","block_type":"box","text":"45,190","page_number":67,"box":{"x":688,"y":502,"width":35,"height":7}},{"id":"376f652f-c558-4ded-934b-313fe8e0393f","block_type":"box","text":"–","page_number":67,"box":{"x":788,"y":505,"width":7,"height":1}},{"id":"b2a67371-8931-49a6-8eb5-30103c3a78c3","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":505,"width":6,"height":1}},{"id":"246f4d54-0e27-4b11-b227-aadd52d9b835","block_type":"box","text":"45,190","page_number":67,"box":{"x":902,"y":502,"width":35,"height":7}},{"id":"9581091b-be8f-4c90-a6d2-0b58b8e6de5e","block_type":"box","text":"Collective investment","page_number":67,"box":{"x":522,"y":538,"width":113,"height":6}},{"id":"038c713c-7b14-465a-b7ad-47c2a53fc914","block_type":"box","text":"schemes","page_number":67,"box":{"x":521,"y":548,"width":48,"height":6}},{"id":"d533df72-afc4-4135-9775-77209563f7a8","block_type":"box","text":"–","page_number":67,"box":{"x":717,"y":542,"width":6,"height":0}},{"id":"d8f1a33b-c768-4647-a595-7cf7dbf2667e","block_type":"box","text":"872,639","page_number":67,"box":{"x":752,"y":538,"width":42,"height":7}},{"id":"79621bcc-9c0c-41d7-9fee-be08d0094ca6","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":542,"width":6,"height":0}},{"id":"98654bb3-296f-4535-8018-16562ae221e0","block_type":"box","text":"872,639","page_number":67,"box":{"x":895,"y":538,"width":42,"height":7}},{"id":"d68227dd-61c9-4377-87f9-47d901e1a88a","block_type":"box","text":"Derivatives","page_number":67,"box":{"x":522,"y":565,"width":58,"height":6}},{"id":"22aa9d33-81f3-46ef-bcb1-04f30367ea0b","block_type":"box","text":"2,438","page_number":67,"box":{"x":693,"y":565,"width":30,"height":7}},{"id":"7d63ec18-bb8a-474a-98c1-d518bd853589","block_type":"box","text":"521","page_number":67,"box":{"x":776,"y":565,"width":17,"height":6}},{"id":"4f570121-25b2-4a3b-af01-b976fdb73acf","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":569,"width":6,"height":0}},{"id":"76e04b5d-2867-4bde-a5b1-bd3d3c23be13","block_type":"box","text":"2,959","page_number":67,"box":{"x":908,"y":565,"width":29,"height":7}},{"id":"e02c0fad-1401-4297-9e2d-2d70384af90b","block_type":"box","text":"Total","page_number":67,"box":{"x":521,"y":583,"width":27,"height":6}},{"id":"49940485-40fa-43ee-bf5a-756d141b73f8","block_type":"box","text":"47,628","page_number":67,"box":{"x":688,"y":583,"width":35,"height":7}},{"id":"42eeeced-b9f4-4117-98d9-40b7d9a795fe","block_type":"box","text":"873,160","page_number":67,"box":{"x":753,"y":583,"width":41,"height":7}},{"id":"4ccdfe40-a489-4935-b40c-779499929da7","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":586,"width":6,"height":1}},{"id":"a3586f89-3231-4659-a359-adb25733a6e5","block_type":"box","text":"920,788","page_number":67,"box":{"x":895,"y":583,"width":42,"height":7}},{"id":"d07d17dd-d49e-4f02-bc79-20af761acdff","block_type":"box","text":"Investment liabilities","page_number":67,"box":{"x":522,"y":600,"width":119,"height":6}},{"id":"2b54f5c2-65cf-4380-bc2b-ab4b11670cc2","block_type":"box","text":"Derivatives","page_number":67,"box":{"x":522,"y":618,"width":58,"height":6}},{"id":"c229d914-e924-494a-b476-4c85db4e4825","block_type":"box","text":"(1,848)","page_number":67,"box":{"x":691,"y":618,"width":36,"height":7}},{"id":"68c6d4f1-7ca0-415a-b577-9679072bd359","block_type":"box","text":"(243)","page_number":67,"box":{"x":772,"y":618,"width":26,"height":7}},{"id":"779ba4cc-6e0a-4d73-9692-682b44932f72","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":621,"width":6,"height":1}},{"id":"e527a434-e1f8-44cf-95b5-49c92bc596aa","block_type":"box","text":"(2,091)","page_number":67,"box":{"x":905,"y":618,"width":36,"height":7}},{"id":"1aba8303-7374-4bae-a8d3-69a798179425","block_type":"box","text":"Total","page_number":67,"box":{"x":521,"y":635,"width":27,"height":6}},{"id":"ac421479-6d59-4512-b707-c43cdbcfed47","block_type":"box","text":"(1,848)","page_number":67,"box":{"x":690,"y":635,"width":37,"height":8}},{"id":"1ca1f51c-47eb-4290-9103-b5fe8416520f","block_type":"box","text":"(243)","page_number":67,"box":{"x":771,"y":635,"width":27,"height":8}},{"id":"bce237b9-1adc-4f7a-b769-f6b4edbe2624","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":639,"width":6,"height":0}},{"id":"6fbd54ab-9af7-49d8-b164-c1197dea3493","block_type":"box","text":"(2,091)","page_number":67,"box":{"x":904,"y":635,"width":37,"height":8}},{"id":"34391b26-cefb-4c88-a784-6eeb15fbfdcd","block_type":"box","text":"As at the year ended 31","page_number":67,"box":{"x":521,"y":657,"width":168,"height":10}},{"id":"b32379fc-b4b5-4a62-b241-d91f8e494d7f","block_type":"box","text":"December 2025","page_number":67,"box":{"x":697,"y":657,"width":111,"height":8}},{"id":"67c78b20-83ea-4b16-bb07-f6ba7c4c77a2","block_type":"box","text":"Level","page_number":67,"box":{"x":522,"y":682,"width":28,"height":6}},{"id":"306ad75a-0d27-4b43-9bac-8bd48d932ad9","block_type":"box","text":"1","page_number":67,"box":{"x":718,"y":682,"width":3,"height":6}},{"id":"a23e892c-971b-4f47-9c64-ea0599325871","block_type":"box","text":"2","page_number":67,"box":{"x":788,"y":682,"width":6,"height":6}},{"id":"9902f539-f235-498f-bee1-33f655a57ab7","block_type":"box","text":"3","page_number":67,"box":{"x":860,"y":682,"width":6,"height":6}},{"id":"ce47ead3-67e3-4c31-a960-a5c5d539a7d5","block_type":"box","text":"Total","page_number":67,"box":{"x":910,"y":682,"width":27,"height":6}},{"id":"fac08f41-8e53-45ab-a60f-9a63903ef5e1","block_type":"box","text":"£’000","page_number":67,"box":{"x":693,"y":692,"width":30,"height":6}},{"id":"ce02c98b-465b-4aea-85ff-01d4b4ee50d3","block_type":"box","text":"£’000","page_number":67,"box":{"x":764,"y":692,"width":30,"height":6}},{"id":"d9cce133-39e0-45ed-be35-fd770c1ba781","block_type":"box","text":"£’000","page_number":67,"box":{"x":836,"y":692,"width":30,"height":6}},{"id":"9a72a7f6-b8c6-41ab-bef5-6b03d58452e2","block_type":"box","text":"£’000","page_number":67,"box":{"x":907,"y":692,"width":30,"height":6}},{"id":"63e1b35c-dea0-484f-ae5b-4cfc6743aef2","block_type":"box","text":"Investments","page_number":67,"box":{"x":522,"y":710,"width":69,"height":6}},{"id":"8c0f6351-6e26-4dc1-9d4d-35dd3246fdf2","block_type":"box","text":"Exchange Traded","page_number":67,"box":{"x":522,"y":728,"width":92,"height":7}},{"id":"28d6f2aa-bff7-4218-962b-401d9104abe8","block_type":"box","text":"Funds and","page_number":67,"box":{"x":522,"y":737,"width":54,"height":6}},{"id":"d9ee9fd3-ceb7-4aac-a293-53c66fba867f","block_type":"box","text":"Commodities","page_number":67,"box":{"x":522,"y":747,"width":69,"height":6}},{"id":"3785e578-9abe-4b3e-a7d0-b624a5db79d5","block_type":"box","text":"74,595","page_number":67,"box":{"x":688,"y":728,"width":35,"height":7}},{"id":"3cb2f7da-72b1-4b2b-a99b-a0d54d506bed","block_type":"box","text":"–","page_number":67,"box":{"x":788,"y":731,"width":7,"height":1}},{"id":"c7a0b605-0d7e-4ea1-91f7-57ba7c806543","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":731,"width":6,"height":1}},{"id":"62916b25-c88d-49ba-89e6-a97ae202bdfa","block_type":"box","text":"74,595","page_number":67,"box":{"x":902,"y":728,"width":35,"height":7}},{"id":"c8fdaba4-e6b7-4992-9fa0-bcdf08149415","block_type":"box","text":"Collective investment","page_number":67,"box":{"x":522,"y":764,"width":113,"height":6}},{"id":"7a11c4b8-1e47-4195-91e2-a043aac8e7bc","block_type":"box","text":"schemes","page_number":67,"box":{"x":521,"y":774,"width":48,"height":6}},{"id":"72582c6b-f384-4271-a279-900f130b2561","block_type":"box","text":"–","page_number":67,"box":{"x":717,"y":768,"width":6,"height":0}},{"id":"01b3c5db-fe67-4e07-a9dc-775d76a22574","block_type":"box","text":"834,976","page_number":67,"box":{"x":752,"y":764,"width":42,"height":7}},{"id":"0e22b2f3-a1d8-42be-9a02-7c87030b5ff7","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":768,"width":6,"height":0}},{"id":"97763730-0863-4fcf-bbd9-b708e37d30de","block_type":"box","text":"834,976","page_number":67,"box":{"x":894,"y":764,"width":43,"height":7}},{"id":"8be14811-8d12-4d2e-b472-dbfbaf89a92d","block_type":"box","text":"Derivatives","page_number":67,"box":{"x":522,"y":791,"width":58,"height":6}},{"id":"105d2a68-e292-42ed-a6fa-e2a4ba56419d","block_type":"box","text":"2,272","page_number":67,"box":{"x":693,"y":791,"width":30,"height":7}},{"id":"8c0dd00b-558e-4a86-b818-992b669dcefb","block_type":"box","text":"737","page_number":67,"box":{"x":776,"y":791,"width":18,"height":6}},{"id":"290b442d-e921-4bda-a363-42231b9c4215","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":795,"width":6,"height":0}},{"id":"70811018-8856-4cda-93a6-8d81c14c29e8","block_type":"box","text":"3,009","page_number":67,"box":{"x":908,"y":791,"width":29,"height":7}},{"id":"2e221b13-8d06-47a5-9ab6-de2cbce5df0c","block_type":"box","text":"Total","page_number":67,"box":{"x":521,"y":809,"width":27,"height":6}},{"id":"6211706e-b084-4f5a-8777-ef731348fe36","block_type":"box","text":"76,867","page_number":67,"box":{"x":687,"y":809,"width":36,"height":7}},{"id":"b935211d-4803-46fa-afda-efe560269785","block_type":"box","text":"835,713","page_number":67,"box":{"x":753,"y":809,"width":41,"height":7}},{"id":"ba6ffb52-8e83-44f8-991a-1588cc4847b8","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":812,"width":6,"height":1}},{"id":"acaf46f5-85eb-49c8-8726-d2d55454cb3a","block_type":"box","text":"912,580","page_number":67,"box":{"x":894,"y":809,"width":43,"height":7}},{"id":"3babaae2-f9bd-4320-a5dc-32b3f1e7813d","block_type":"box","text":"Investment liabilities","page_number":67,"box":{"x":522,"y":826,"width":119,"height":6}},{"id":"b23726f8-a376-4575-b67f-3d330836a238","block_type":"box","text":"Derivatives","page_number":67,"box":{"x":522,"y":844,"width":58,"height":6}},{"id":"2706a4a3-af36-4d46-ad42-230dc70fd219","block_type":"box","text":"(1,317)","page_number":67,"box":{"x":692,"y":844,"width":35,"height":7}},{"id":"640cff94-c1b4-468d-b796-c2743caac942","block_type":"box","text":"(253)","page_number":67,"box":{"x":772,"y":844,"width":26,"height":7}},{"id":"26ad1303-31e3-4bfb-87ef-028e3f29a6c7","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":847,"width":6,"height":1}},{"id":"513b9646-cd4e-471b-bcda-038620098adf","block_type":"box","text":"(1,570)","page_number":67,"box":{"x":906,"y":844,"width":35,"height":7}},{"id":"6442fd9c-86e7-4960-9802-8224e372acc7","block_type":"box","text":"Total","page_number":67,"box":{"x":521,"y":861,"width":27,"height":6}},{"id":"cffac06c-6168-402d-9d22-d0bb684d39c5","block_type":"box","text":"(1,317)","page_number":67,"box":{"x":691,"y":861,"width":36,"height":8}},{"id":"ca68c71f-dd18-45da-a39f-539fe7521860","block_type":"box","text":"(253)","page_number":67,"box":{"x":771,"y":861,"width":27,"height":8}},{"id":"14b76fdf-4629-47d4-a542-7c931ffd0f4b","block_type":"box","text":"–","page_number":67,"box":{"x":860,"y":865,"width":6,"height":1}},{"id":"aa9deb4c-8a00-4a0e-89c8-ab2aeea9bf64","block_type":"box","text":"(1,570)","page_number":67,"box":{"x":905,"y":861,"width":36,"height":8}},{"id":"78344e09-7c31-4dfd-8e79-7a5b8c740d44","block_type":"box","text":"Royal London Multi Asset Strategies Fund | Royal London Multi-Asset Funds ICVC","page_number":67,"box":{"x":475,"y":33,"width":438,"height":8}},{"id":"d89a4435-9e0f-4da3-a24f-b27f21203276","block_type":"box","text":"67","page_number":67,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"26d7f593-00ef-4fcf-930d-f9db99695545","block_type":"box","text":"Manager’s Investment Report","page_number":68,"box":{"x":58,"y":151,"width":352,"height":14}},{"id":"86bb568b-3d5f-4f1b-9f73-773cccf1aa56","block_type":"box","text":"Cumulative Performance","page_number":68,"box":{"x":57,"y":181,"width":230,"height":9}},{"id":"b47a48f9-fff3-441f-b9ef-7d443b8b6965","block_type":"box","text":"(% change to 30/06/26)","page_number":68,"box":{"x":57,"y":203,"width":164,"height":10}},{"id":"31eb8f81-90d8-418f-895a-eae7c78c1b25","block_type":"box","text":"6 month","page_number":68,"box":{"x":241,"y":231,"width":46,"height":6}},{"id":"c92bd03f-26b1-42a4-979a-13988a5f1d5f","block_type":"box","text":"total","page_number":68,"box":{"x":262,"y":241,"width":25,"height":6}},{"id":"a189fe79-8856-4cfb-a422-1264f15b6adf","block_type":"box","text":"return","page_number":68,"box":{"x":253,"y":250,"width":34,"height":6}},{"id":"1ceee0c7-7ea3-45b7-9394-2a71f2bbcd15","block_type":"box","text":"%","page_number":68,"box":{"x":278,"y":260,"width":9,"height":6}},{"id":"9b355c99-f38c-4f38-873c-cd03158081b1","block_type":"box","text":"1 year","page_number":68,"box":{"x":315,"y":231,"width":33,"height":8}},{"id":"9f220a2f-c407-41f8-9c4f-3f553d1c1a0a","block_type":"box","text":"total","page_number":68,"box":{"x":323,"y":241,"width":25,"height":6}},{"id":"fc3783eb-c13e-4705-9dc0-8c046b9157aa","block_type":"box","text":"return","page_number":68,"box":{"x":314,"y":250,"width":34,"height":6}},{"id":"06fd67d0-2ccc-45ac-a93f-1f999e022bee","block_type":"box","text":"%","page_number":68,"box":{"x":338,"y":260,"width":10,"height":6}},{"id":"4b6d3ad8-198e-4d82-bf87-4ddb7746b807","block_type":"box","text":"3 year","page_number":68,"box":{"x":375,"y":231,"width":34,"height":8}},{"id":"3fa087ab-139e-4c3f-9279-5e1fa11c8d63","block_type":"box","text":"total","page_number":68,"box":{"x":383,"y":241,"width":25,"height":6}},{"id":"f74ba3eb-9ce1-48c3-8086-4d4d306693b7","block_type":"box","text":"return","page_number":68,"box":{"x":374,"y":250,"width":34,"height":6}},{"id":"48671869-26a3-41a8-9d7c-1ad1de821c81","block_type":"box","text":"%","page_number":68,"box":{"x":399,"y":260,"width":9,"height":6}},{"id":"c8f50384-2f37-40b9-b467-b7e536dc1ff1","block_type":"box","text":"5 year","page_number":68,"box":{"x":436,"y":231,"width":34,"height":8}},{"id":"2e6188cd-afcc-4c8d-afb0-2e6da6782d40","block_type":"box","text":"total","page_number":68,"box":{"x":444,"y":241,"width":25,"height":6}},{"id":"ef29f3ca-28db-42b7-bf3d-596a03f3b53a","block_type":"box","text":"return","page_number":68,"box":{"x":435,"y":250,"width":34,"height":6}},{"id":"0b3afaf5-745c-4165-9b4a-a6d909f2f9a4","block_type":"box","text":"%","page_number":68,"box":{"x":460,"y":260,"width":9,"height":6}},{"id":"f3c0fe3f-a371-464c-92db-02413f038de0","block_type":"box","text":"Royal London GMAP Moderate","page_number":68,"box":{"x":58,"y":279,"width":165,"height":8}},{"id":"0ca76312-2b8e-4989-90fe-1b3cf67a5b7e","block_type":"box","text":"Growth Fund, Class M","page_number":68,"box":{"x":57,"y":289,"width":118,"height":7}},{"id":"89ca009c-cca9-4895-b858-f8b45ed2b4b8","block_type":"box","text":"Accumulation","page_number":68,"box":{"x":57,"y":299,"width":72,"height":6}},{"id":"93004524-d356-4d56-a033-6fa57298946b","block_type":"box","text":"6.91","page_number":68,"box":{"x":265,"y":280,"width":20,"height":6}},{"id":"246f0682-e414-40e1-8482-3921238c4f9b","block_type":"box","text":"15.85","page_number":68,"box":{"x":320,"y":280,"width":28,"height":6}},{"id":"bb7d5380-81f2-4eef-8067-2241d12fac0a","block_type":"box","text":"–","page_number":68,"box":{"x":402,"y":283,"width":7,"height":1}},{"id":"6afb4451-746e-4e74-ae7f-2c0cd43bbece","block_type":"box","text":"–","page_number":68,"box":{"x":463,"y":283,"width":7,"height":1}},{"id":"4d884272-96a1-450e-a7c4-98345b8cc7f3","block_type":"box","text":"Royal London GMAP Moderate","page_number":68,"box":{"x":58,"y":318,"width":165,"height":8}},{"id":"c34ca1ab-01d3-4d51-adb0-bc9e1c56e585","block_type":"box","text":"Growth Fund, Class M Income","page_number":68,"box":{"x":57,"y":327,"width":161,"height":8}},{"id":"ed48e901-6ffa-47c3-8612-5cba3fc3fa7d","block_type":"box","text":"6.76","page_number":68,"box":{"x":265,"y":318,"width":22,"height":6}},{"id":"7764d452-9357-46f3-aca9-684b70719fec","block_type":"box","text":"15.65","page_number":68,"box":{"x":320,"y":318,"width":28,"height":6}},{"id":"2648e9c5-25cc-497f-921a-fd7b51bff770","block_type":"box","text":"–","page_number":68,"box":{"x":402,"y":322,"width":7,"height":0}},{"id":"ddb726a9-be87-4c5c-a41b-53fd9f37423c","block_type":"box","text":"–","page_number":68,"box":{"x":463,"y":322,"width":7,"height":0}},{"id":"6c8a6917-e17d-450f-a6d7-ab932eda455f","block_type":"box","text":"Royal London GMAP Moderate","page_number":68,"box":{"x":58,"y":347,"width":165,"height":8}},{"id":"6f3ef9bd-f368-45d6-b36e-d93db68e104c","block_type":"box","text":"Growth Fund, Class R","page_number":68,"box":{"x":57,"y":357,"width":118,"height":7}},{"id":"2f8fb815-ba1e-4833-89c6-e2cee806f914","block_type":"box","text":"Accumulation","page_number":68,"box":{"x":57,"y":366,"width":72,"height":6}},{"id":"0957a2d5-ddd3-4fc9-ba48-1c67d0924366","block_type":"box","text":"7.05","page_number":68,"box":{"x":266,"y":347,"width":21,"height":6}},{"id":"4a54163f-602a-4d08-a058-a8cd9cbcea0c","block_type":"box","text":"16.17","page_number":68,"box":{"x":321,"y":347,"width":27,"height":6}},{"id":"4e802727-10bd-48b3-8baf-e85a5e48d57e","block_type":"box","text":"–","page_number":68,"box":{"x":402,"y":351,"width":7,"height":0}},{"id":"272c71dd-a36e-491c-9260-63f28496f140","block_type":"box","text":"–","page_number":68,"box":{"x":463,"y":351,"width":7,"height":0}},{"id":"2d808d72-da4f-44eb-b26a-20ca4850d464","block_type":"box","text":"Royal London GMAP Moderate","page_number":68,"box":{"x":58,"y":386,"width":165,"height":7}},{"id":"6e42b382-922f-495f-843d-65a09b106e03","block_type":"box","text":"Growth Fund, Class S","page_number":68,"box":{"x":57,"y":395,"width":116,"height":7}},{"id":"a40f36fe-06ea-44bc-b8ac-4f0fcb162c86","block_type":"box","text":"Accumulation","page_number":68,"box":{"x":57,"y":405,"width":72,"height":6}},{"id":"c9cf37bc-82dc-4a63-86c4-9b19890aed1c","block_type":"box","text":"7.05","page_number":68,"box":{"x":266,"y":386,"width":21,"height":6}},{"id":"837e0d0d-84c3-421a-9449-a39aeeb65a8f","block_type":"box","text":"16.17","page_number":68,"box":{"x":321,"y":386,"width":27,"height":6}},{"id":"b2d1aba7-d160-41e7-8ccb-1d18cc56b40a","block_type":"box","text":"–","page_number":68,"box":{"x":402,"y":389,"width":7,"height":1}},{"id":"b4bd0854-cc47-4f27-88fb-2d45c0df9169","block_type":"box","text":"–","page_number":68,"box":{"x":463,"y":389,"width":7,"height":1}},{"id":"6ad976a5-7fc0-492c-a1e5-9de90650a9cd","block_type":"box","text":"Royal London GMAP Moderate","page_number":68,"box":{"x":58,"y":424,"width":165,"height":8}},{"id":"8453c010-e624-4d2f-a103-a83c08af6c89","block_type":"box","text":"Growth Fund, Class Z","page_number":68,"box":{"x":57,"y":434,"width":116,"height":7}},{"id":"1cbb646f-bcb5-415b-9b3b-0a4fcc8e55db","block_type":"box","text":"Accumulation","page_number":68,"box":{"x":57,"y":443,"width":72,"height":6}},{"id":"b3aacfd2-df92-4103-a899-63cdc71565d3","block_type":"box","text":"6.99","page_number":68,"box":{"x":264,"y":424,"width":23,"height":6}},{"id":"b46b1c6b-f9eb-4686-a13f-d98c39b9b8f0","block_type":"box","text":"15.92","page_number":68,"box":{"x":320,"y":424,"width":28,"height":6}},{"id":"4e15746c-afd7-49bf-aabc-504b992d4698","block_type":"box","text":"–","page_number":68,"box":{"x":402,"y":428,"width":7,"height":0}},{"id":"6ab1079e-8c5f-471d-bad2-9399372718ee","block_type":"box","text":"–","page_number":68,"box":{"x":463,"y":428,"width":7,"height":0}},{"id":"02884f47-67d3-4a44-99e4-a27b5e76a25b","block_type":"box","text":"IA Mixed Investment 20-60%","page_number":68,"box":{"x":58,"y":463,"width":153,"height":6}},{"id":"dbf9ea2d-d9be-416b-bdec-d8b494da088c","block_type":"box","text":"Shares Total Return (TR)*","page_number":68,"box":{"x":57,"y":472,"width":138,"height":8}},{"id":"e2b3466d-3f09-4a17-881c-6cf17cf46642","block_type":"box","text":"5.24","page_number":68,"box":{"x":265,"y":463,"width":22,"height":6}},{"id":"584a9488-b7ac-4dbe-a8d5-5fc48eede3a5","block_type":"box","text":"12.27","page_number":68,"box":{"x":320,"y":463,"width":28,"height":6}},{"id":"3af5f77a-8d4b-41ac-844d-3cd84fc1150f","block_type":"box","text":"30.03","page_number":68,"box":{"x":379,"y":463,"width":29,"height":6}},{"id":"714ac0d0-6356-48d9-9ba2-a9ea8a86214d","block_type":"box","text":"22.12","page_number":68,"box":{"x":441,"y":463,"width":28,"height":6}},{"id":"92f73321-6b46-48e4-b722-eab668ad1992","block_type":"box","text":"* Benchmark","page_number":68,"box":{"x":57,"y":500,"width":69,"height":6}},{"id":"5f5f45f9-837f-4dd2-81b9-367dd6a7822b","block_type":"box","text":"The Fund launched on 25 July 2024.","page_number":68,"box":{"x":57,"y":514,"width":193,"height":8}},{"id":"7dc11a2a-8db9-4df9-919a-327577b6893e","block_type":"box","text":"Past performance is not necessarily a reliable indicator","page_number":68,"box":{"x":58,"y":533,"width":420,"height":10}},{"id":"aa05115e-e68b-4f26-b37f-5e83b8ff1b08","block_type":"box","text":"of future performance. The value of investments and the","page_number":68,"box":{"x":57,"y":547,"width":420,"height":10}},{"id":"4453ea82-2372-4cc2-9cc0-703553b79054","block_type":"box","text":"income from them is not guaranteed and may go down","page_number":68,"box":{"x":58,"y":562,"width":419,"height":10}},{"id":"12941cb9-c2cc-4b7d-85cc-f7643314320d","block_type":"box","text":"as well as up and investors may not get back the amount","page_number":68,"box":{"x":57,"y":576,"width":421,"height":10}},{"id":"e8518b36-2653-41f6-83d9-6f33afad3c56","block_type":"box","text":"originally invested.","page_number":68,"box":{"x":57,"y":590,"width":138,"height":10}},{"id":"ba7a1a29-2f60-45b4-82ab-f8a6b3a72af8","block_type":"box","text":"Source: Royal London Asset Management Limited and","page_number":68,"box":{"x":57,"y":611,"width":420,"height":10}},{"id":"b6e6ccf8-6fcf-4eaf-92ee-e76a9e840172","block_type":"box","text":"Morningstar, as at 30","page_number":68,"box":{"x":58,"y":626,"width":165,"height":9}},{"id":"9640896f-82cb-47db-9009-1d930db84787","block_type":"box","text":"June 2026. Returns are net of","page_number":68,"box":{"x":237,"y":625,"width":242,"height":8}},{"id":"d0d4c11f-e2fc-42c3-8615-803b90a47401","block_type":"box","text":"management fees. Investors should also note that the total","page_number":68,"box":{"x":58,"y":640,"width":419,"height":10}},{"id":"36444959-1d33-48c5-9240-5ef4d7f68883","block_type":"box","text":"return is calculated on the Fund’s official 2pm price whereas the","page_number":68,"box":{"x":58,"y":654,"width":419,"height":10}},{"id":"5bfddd67-aba8-4213-b8c4-586c949e07c8","block_type":"box","text":"Fund has been valued as at close of business for the Closing","page_number":68,"box":{"x":58,"y":668,"width":419,"height":10}},{"id":"0e5f310d-0d1a-46b1-be61-b29c39211641","block_type":"box","text":"Net Asset Value quoted within the Comparative Table. For","page_number":68,"box":{"x":58,"y":682,"width":420,"height":10}},{"id":"4d12178b-a61b-4bad-99e9-96bae1dd31eb","block_type":"box","text":"further information, including ongoing performance and Fund","page_number":68,"box":{"x":57,"y":697,"width":420,"height":10}},{"id":"4ba5af0e-8f01-4a72-8653-01b571b80309","block_type":"box","text":"breakdown information, please refer to the latest factsheet at","page_number":68,"box":{"x":58,"y":711,"width":420,"height":10}},{"id":"f728c589-c878-486f-8569-17f92abb8485","block_type":"box","text":"www.rlam.com.","page_number":68,"box":{"x":57,"y":725,"width":103,"height":8}},{"id":"e558fe95-5137-4c43-ae9b-e5e7f4434bc7","block_type":"box","text":"Fund objective","page_number":68,"box":{"x":522,"y":151,"width":135,"height":11}},{"id":"a0e41866-378e-47f0-8f22-d954a9e892c8","block_type":"box","text":"The Fund aims to achieve capital growth over rolling 5-year","page_number":68,"box":{"x":521,"y":169,"width":422,"height":10}},{"id":"268fd50d-7e02-4d48-bbd4-fc7da2f89a5e","block_type":"box","text":"periods, after the deduction of charges. The Fund forms part of","page_number":68,"box":{"x":522,"y":184,"width":421,"height":10}},{"id":"a0d45e8b-6b2d-459a-bc3f-18b4ec80c393","block_type":"box","text":"the Royal London Global Multi-Asset Portfolio (“GMAP”) range","page_number":68,"box":{"x":521,"y":198,"width":421,"height":10}},{"id":"f6519d03-2705-4af5-ac59-8c416431ec34","block_type":"box","text":"and aims to achieve a high level of risk and return relative to","page_number":68,"box":{"x":521,"y":212,"width":421,"height":10}},{"id":"27f50051-f5ec-479e-aa8f-0579f5e546bf","block_type":"box","text":"other funds in the GMAP range as further described in the","page_number":68,"box":{"x":521,"y":226,"width":421,"height":10}},{"id":"a6214ea8-abfd-4daa-aca0-8993a6f3b72a","block_type":"box","text":"investment strategy. The performance comparator for the Fund","page_number":68,"box":{"x":522,"y":241,"width":419,"height":10}},{"id":"ca0dd785-53d6-4d88-b947-a40d78f654ab","block_type":"box","text":"is the IA","page_number":68,"box":{"x":522,"y":255,"width":52,"height":8}},{"id":"e89ede80-6224-486b-9ee0-739a387d0d00","block_type":"box","text":"Mixed Investment 40–85% Shares sector (“IA","page_number":68,"box":{"x":578,"y":255,"width":302,"height":10}},{"id":"9940cdf8-d720-4cb2-8bed-810d0b5c8a9e","block_type":"box","text":"Sector”).","page_number":68,"box":{"x":884,"y":255,"width":57,"height":10}},{"id":"57f14173-28e1-4856-974a-52f53b09c87d","block_type":"box","text":"Funds in the IA Sector must invest between 40% and 85%","page_number":68,"box":{"x":522,"y":269,"width":419,"height":8}},{"id":"106b728f-a491-487c-95f6-abe46ed166e4","block_type":"box","text":"of their assets in shares. The Fund’s assets are generally","page_number":68,"box":{"x":521,"y":283,"width":421,"height":10}},{"id":"d6609ab3-e06b-4928-860c-4b651ff7142d","block_type":"box","text":"consistent with these investment parameters therefore","page_number":68,"box":{"x":522,"y":298,"width":420,"height":10}},{"id":"c9c62593-6c5d-48bd-83ee-180fe9315203","block_type":"box","text":"the IA","page_number":68,"box":{"x":521,"y":312,"width":44,"height":8}},{"id":"af7c6ae1-60ed-4e99-8c9b-1adf12118bca","block_type":"box","text":"Sector is considered appropriate as a performance","page_number":68,"box":{"x":574,"y":312,"width":368,"height":10}},{"id":"9aa27548-34ba-4b78-9d9a-58d5b8b93704","block_type":"box","text":"comparator. Management of the Fund is not restricted by the","page_number":68,"box":{"x":522,"y":326,"width":420,"height":10}},{"id":"55cc630b-d21f-43e8-9224-6fa488e1c298","block_type":"box","text":"use of the IA","page_number":68,"box":{"x":522,"y":340,"width":85,"height":8}},{"id":"30a344dc-27c6-4182-981d-70046a451a7d","block_type":"box","text":"Sector as a performance comparator.","page_number":68,"box":{"x":611,"y":340,"width":252,"height":10}},{"id":"44e08b9e-1f58-4099-ae25-5eeb30fcb3d3","block_type":"box","text":"Performance overview","page_number":68,"box":{"x":522,"y":367,"width":209,"height":9}},{"id":"44066b52-859b-4629-8ec4-7aa860c1ce58","block_type":"box","text":"The Fund outperformed the benchmark during the period","page_number":68,"box":{"x":521,"y":386,"width":420,"height":10}},{"id":"73e94410-40ae-470b-9946-a168402842d6","block_type":"box","text":"under review.","page_number":68,"box":{"x":522,"y":400,"width":88,"height":8}},{"id":"279dff72-6a5e-4448-b117-ff3d967c02a1","block_type":"box","text":"Market overview","page_number":68,"box":{"x":522,"y":427,"width":154,"height":9}},{"id":"f1c3c9d1-c789-47be-98f8-fd0d8397b237","block_type":"box","text":"Geopolitical tensions in the Middle East were a key driver of","page_number":68,"box":{"x":522,"y":445,"width":421,"height":10}},{"id":"e32328b9-ea1f-41cd-8b0e-e17b105c80a2","block_type":"box","text":"markets over the period, which saw commodities rise materially","page_number":68,"box":{"x":522,"y":460,"width":420,"height":10}},{"id":"eb053c0f-bc98-4594-bddf-239245ee05ef","block_type":"box","text":"over the start of the year. Despite this, global equity markets","page_number":68,"box":{"x":521,"y":474,"width":421,"height":10}},{"id":"74c18328-3941-4b45-ba56-529a733012d8","block_type":"box","text":"performed well over the period, with euphoria around Artificial","page_number":68,"box":{"x":522,"y":488,"width":419,"height":10}},{"id":"c762046a-04b3-4d70-805d-b762515fd05f","block_type":"box","text":"Intelligence (AI) once again boosting investor sentiment.","page_number":68,"box":{"x":522,"y":502,"width":419,"height":10}},{"id":"38c7111b-b018-4714-a941-38112827e7f0","block_type":"box","text":"Semiconductor companies, which are at the heart of the AI","page_number":68,"box":{"x":522,"y":517,"width":419,"height":10}},{"id":"a86054ee-c852-4630-a712-c895b9c58cad","block_type":"box","text":"infrastructure buildout, were beneficiaries, rising sharply.","page_number":68,"box":{"x":522,"y":531,"width":419,"height":10}},{"id":"acaba6e9-d14d-4900-ab14-a7f26350f8ed","block_type":"box","text":"Bond yields ended the period higher, as rising inflation risk","page_number":68,"box":{"x":522,"y":545,"width":420,"height":10}},{"id":"cad3ad00-f680-46d4-ab01-63e56f4f127c","block_type":"box","text":"saw markets moved to price in interest rate hikes from global","page_number":68,"box":{"x":521,"y":559,"width":420,"height":10}},{"id":"782de779-973a-4487-b705-e63c2b5dc9d8","block_type":"box","text":"central banks.","page_number":68,"box":{"x":522,"y":574,"width":93,"height":8}},{"id":"3b27ba69-5fcc-4dfa-9a5f-12bda10ac318","block_type":"box","text":"Royal London GMAP Moderate Growth Fund","page_number":68,"box":{"x":59,"y":94,"width":637,"height":17}},{"id":"b5cc29a4-6f72-43e3-8519-b99dfbc5055f","block_type":"box","text":"Royal London GMAP Moderate Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":68,"box":{"x":460,"y":33,"width":453,"height":8}},{"id":"ea22065b-7e9e-42ce-99ba-309e6255f7cb","block_type":"box","text":"68","page_number":68,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"9e50fa9c-6937-496f-8017-9f4a0e14de21","block_type":"box","text":"Portfolio commentary","page_number":69,"box":{"x":58,"y":151,"width":202,"height":11}},{"id":"16fa6cd5-6fd7-4b40-93c2-326c44836f6e","block_type":"box","text":"Having begun the year with a tactically overweight position in","page_number":69,"box":{"x":58,"y":169,"width":419,"height":10}},{"id":"099d3a64-e046-4b80-a53a-0cf74775e37a","block_type":"box","text":"equities, the Fund moved to a more defensive position towards","page_number":69,"box":{"x":57,"y":184,"width":421,"height":10}},{"id":"c0e73431-0e5a-4ea0-80d7-10457670ca04","block_type":"box","text":"the end of the first quarter, noting the sharp rise of uncertainty","page_number":69,"box":{"x":57,"y":198,"width":421,"height":10}},{"id":"b6d7a849-560b-44cf-b5e3-90f1852365b5","block_type":"box","text":"which accompanied the onset of the war between US and Iran.","page_number":69,"box":{"x":57,"y":212,"width":420,"height":10}},{"id":"1e4c5a43-2404-47ac-80b3-f3a242eef386","block_type":"box","text":"This saw the Fund move to a tactically underweight position","page_number":69,"box":{"x":57,"y":226,"width":420,"height":10}},{"id":"4fb86c62-0ada-49f6-8b2d-98cbb575bc17","block_type":"box","text":"heading into the Spring. The Fund shortly added back to","page_number":69,"box":{"x":58,"y":241,"width":420,"height":10}},{"id":"ae5f4a2d-3bf9-458f-86e7-278482882478","block_type":"box","text":"equities at the lower levels, as investor sentiment started to","page_number":69,"box":{"x":57,"y":255,"width":420,"height":10}},{"id":"e3b66524-b25c-46ac-924f-ad05ae6f92d7","block_type":"box","text":"improve from oversold levels on renewed AI enthusiasm.","page_number":69,"box":{"x":58,"y":269,"width":380,"height":10}},{"id":"6fb90a04-b1a6-4892-8757-36c9f755d406","block_type":"box","text":"At the regional level, tactical positioning has mostly been","page_number":69,"box":{"x":57,"y":290,"width":420,"height":10}},{"id":"3974147a-04b6-4667-8110-f9c62323999a","block_type":"box","text":"overweight Japan, the US and emerging markets supported","page_number":69,"box":{"x":57,"y":304,"width":420,"height":10}},{"id":"39bf9138-2cb5-45e1-abb6-809b750b056d","block_type":"box","text":"by strong earnings and the enthusiasm around AI stocks.","page_number":69,"box":{"x":58,"y":319,"width":419,"height":10}},{"id":"c4d4dc72-eb74-42e2-ba05-994b3379e547","block_type":"box","text":"The Fund has also remained tactically underweight Europe","page_number":69,"box":{"x":57,"y":333,"width":420,"height":10}},{"id":"88a4f7ac-7e4c-4ded-9ce8-5bef3e076384","block_type":"box","text":"throughout most of the period as earnings continued to be","page_number":69,"box":{"x":57,"y":347,"width":420,"height":10}},{"id":"11dee3d3-6c9c-42c2-a24d-21bc8065e162","block_type":"box","text":"lacklustre and the region suffered with its greater sensitivity to","page_number":69,"box":{"x":58,"y":361,"width":419,"height":10}},{"id":"eae71a54-e67e-45b1-9d13-4ecdfc0ec212","block_type":"box","text":"the higher energy prices.","page_number":69,"box":{"x":57,"y":376,"width":167,"height":10}},{"id":"50a1091c-4306-4de3-8f11-51295b04edaa","block_type":"box","text":"Elsewhere, our strategic allocation to commodities proved","page_number":69,"box":{"x":58,"y":397,"width":419,"height":10}},{"id":"1cb244f4-8f9f-4ea4-bbdd-4023c41d7874","block_type":"box","text":"beneficial particularly in the early months of 2026, as the","page_number":69,"box":{"x":58,"y":411,"width":419,"height":10}},{"id":"bac62193-f04b-4c22-be16-9a5cc37e43f7","block_type":"box","text":"asset class surged over the quarter as escalating geopolitical","page_number":69,"box":{"x":57,"y":425,"width":420,"height":10}},{"id":"39728ede-d614-480c-8761-0e5ef28274a9","block_type":"box","text":"tensions culminated in direct military conflict with Iran. Brent","page_number":69,"box":{"x":57,"y":439,"width":421,"height":10}},{"id":"c8c67424-4ed3-4239-b88a-c70ec6699fe6","block_type":"box","text":"crude recorded its largest quarterly gain since the Gulf War in","page_number":69,"box":{"x":57,"y":454,"width":420,"height":10}},{"id":"2d0755dc-c94d-466f-a73e-272779728f5a","block_type":"box","text":"1990 (+94%).","page_number":69,"box":{"x":58,"y":468,"width":87,"height":10}},{"id":"af6c518d-6be3-4125-af8b-91123e43ba56","block_type":"box","text":"Gold had been held as a separate tactical position heading","page_number":69,"box":{"x":57,"y":489,"width":420,"height":10}},{"id":"0c17957f-71e5-43ab-974c-1a991a468e4d","block_type":"box","text":"into the year before being fully removed towards the end of","page_number":69,"box":{"x":58,"y":503,"width":421,"height":10}},{"id":"7221c476-e620-4d3d-a6bf-aaff127129d0","block_type":"box","text":"March. The position had continued to add value in the Fund,","page_number":69,"box":{"x":58,"y":518,"width":419,"height":9}},{"id":"353f7049-9f35-4ad1-83bc-d0426a923c53","block_type":"box","text":"benefitting last year from a backdrop of elevated risks around","page_number":69,"box":{"x":58,"y":532,"width":419,"height":10}},{"id":"c4517a95-44f2-48f7-a85c-af77945107da","block_type":"box","text":"geopolitics and US policy.","page_number":69,"box":{"x":57,"y":546,"width":173,"height":10}},{"id":"43af951e-25cc-4de6-b1f0-8d66af5c0e7c","block_type":"box","text":"Investment outlook","page_number":69,"box":{"x":522,"y":151,"width":179,"height":9}},{"id":"e58fb720-c25c-46ec-87b1-192c568e3c71","block_type":"box","text":"The Investment Clock is in Stagflation, reflecting the high oil","page_number":69,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"65d9f293-d686-4cec-abbb-e2d597fc4c9f","block_type":"box","text":"price and weaker business surveys amid the still uncertain US","page_number":69,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"b896fd7f-5528-480c-bc0d-5c676dd46d8a","block_type":"box","text":"Iran conflict.","page_number":69,"box":{"x":522,"y":198,"width":81,"height":8}},{"id":"87a0cd3a-9d0e-48e6-a09d-c11a2395664b","block_type":"box","text":"Energy prices retreated last quarter on signs of a fragile","page_number":69,"box":{"x":522,"y":219,"width":420,"height":10}},{"id":"5fd67107-485f-4410-a470-9ef15db9dbd3","block_type":"box","text":"peace deal, but tensions have since risen again. Commodities","page_number":69,"box":{"x":522,"y":233,"width":420,"height":10}},{"id":"27c42ce2-b161-47e0-ab1b-bf87131599b9","block_type":"box","text":"remain a good hedge against a renewed flare up in geopolitical","page_number":69,"box":{"x":522,"y":247,"width":419,"height":10}},{"id":"5fcdb624-c349-4042-8fca-84ba18aa7493","block_type":"box","text":"tensions and spikes in inflation.","page_number":69,"box":{"x":521,"y":262,"width":210,"height":10}},{"id":"cbf5b940-bb30-40df-bdd6-4112df77d32d","block_type":"box","text":"The AI boom is raising corporate earnings of technology","page_number":69,"box":{"x":521,"y":283,"width":421,"height":10}},{"id":"ee54e79e-a740-4121-907f-e37b906a76d6","block_type":"box","text":"stocks. Cycle-adjusted valuations are near dot com era levels.","page_number":69,"box":{"x":521,"y":297,"width":420,"height":10}},{"id":"218c7524-384c-4f29-bd93-a754f75959a5","block_type":"box","text":"Innovation waves often get overblown in financial markets,","page_number":69,"box":{"x":522,"y":311,"width":419,"height":10}},{"id":"8e32b0ce-ce23-4ab7-b5ed-cce794338c0d","block_type":"box","text":"even when their long-term impact is transformative.","page_number":69,"box":{"x":521,"y":325,"width":345,"height":10}},{"id":"10911bc0-3f46-4bc8-acd1-dbb06ca680cf","block_type":"box","text":"Tactically, we maintain a moderate overweight position in","page_number":69,"box":{"x":521,"y":346,"width":420,"height":10}},{"id":"42efcb28-0be1-4ac1-a725-d1ea855cde27","block_type":"box","text":"equities and underweight position in government bonds.","page_number":69,"box":{"x":521,"y":361,"width":377,"height":10}},{"id":"0bad553f-ebe0-45ca-9875-dd115d71b7fc","block_type":"box","text":"Please see our Investment Clock blog at www.rlam.com for our","page_number":69,"box":{"x":522,"y":382,"width":421,"height":10}},{"id":"5ed086f4-eff2-4934-b83e-f798aaba8e89","block_type":"box","text":"latest views.","page_number":69,"box":{"x":522,"y":396,"width":81,"height":8}},{"id":"b8b0111e-3873-48f8-9430-1d95837cc76a","block_type":"box","text":"Trevor Greetham","page_number":69,"box":{"x":521,"y":438,"width":122,"height":8}},{"id":"e4fb23e5-0a34-4011-9afe-f5b42983d69c","block_type":"box","text":"Fund Manager","page_number":69,"box":{"x":522,"y":452,"width":104,"height":10}},{"id":"8573698f-abf9-4fbd-972a-009a619cae69","block_type":"box","text":"Royal London Asset Management Limited","page_number":69,"box":{"x":522,"y":466,"width":303,"height":10}},{"id":"5523c5ca-4fe4-47de-9456-3a4107376432","block_type":"box","text":"30","page_number":69,"box":{"x":522,"y":481,"width":15,"height":7}},{"id":"9d41fb9e-e1df-4ed3-bd3a-f183c37bfc7c","block_type":"box","text":"June 2026","page_number":69,"box":{"x":542,"y":481,"width":74,"height":7}},{"id":"6f6bef9b-79b4-4938-abfa-5bfbcb47e3e1","block_type":"box","text":"Please note that this commentary is written as at end of the","page_number":69,"box":{"x":522,"y":515,"width":420,"height":10}},{"id":"784e77d8-d428-4a43-9718-655f26f48299","block_type":"box","text":"review period. For insights into market events or positioning","page_number":69,"box":{"x":522,"y":528,"width":419,"height":10}},{"id":"616e330b-9e6c-46e5-864e-aba4dc24628d","block_type":"box","text":"since then, please go to www.rlam.com.","page_number":69,"box":{"x":521,"y":541,"width":270,"height":10}},{"id":"f15f84a0-f346-4569-9f29-f4d76fb40619","block_type":"box","text":"This report covers investment performance, activity and","page_number":69,"box":{"x":521,"y":557,"width":420,"height":10}},{"id":"4f740280-0234-4d9e-97c9-9d2174ea4c6b","block_type":"box","text":"outlook. For a wider look at the Fund, our Annual Assessment","page_number":69,"box":{"x":521,"y":570,"width":421,"height":10}},{"id":"7bb257d5-b520-4c27-97b0-85b3292d9b1e","block_type":"box","text":"of Value report is available at www.rlam.com.","page_number":69,"box":{"x":521,"y":583,"width":306,"height":10}},{"id":"e3d1703a-1a54-4b41-be42-13186bdf24a3","block_type":"box","text":"For further help on some of the terms used, please see our","page_number":69,"box":{"x":522,"y":600,"width":421,"height":10}},{"id":"71d47bec-04bb-4faa-9786-1f3ee192262b","block_type":"box","text":"glossary at www.rlam.com/uk/individual-investors/glossary.","page_number":69,"box":{"x":521,"y":613,"width":400,"height":10}},{"id":"98e03e50-d83e-4a98-836e-b8e292ec0316","block_type":"box","text":"The Task Force on Climate-related Financial Disclosures","page_number":69,"box":{"x":521,"y":629,"width":421,"height":8}},{"id":"23d94f86-9fbb-4ac0-af32-a361f8f21692","block_type":"box","text":"(TCFD) Report can be found under the relevant Fund","page_number":69,"box":{"x":522,"y":642,"width":419,"height":10}},{"id":"bd1f4fda-bff2-4232-ba05-26b498e6a66c","block_type":"box","text":"name at","page_number":69,"box":{"x":522,"y":656,"width":81,"height":7}},{"id":"0c03f397-9ac9-4245-a147-3ccd267de43c","block_type":"box","text":"https://www.rlam.com/uk/individual-investors/","page_number":69,"box":{"x":636,"y":655,"width":306,"height":10}},{"id":"5aadecde-33f7-423f-9c74-eb2dbce899ae","block_type":"box","text":"funds","page_number":69,"box":{"x":521,"y":668,"width":37,"height":8}},{"id":"92266f2c-9156-45df-aba0-82986eaf1844","block_type":"box","text":".","page_number":69,"box":{"x":560,"y":675,"width":1,"height":1}},{"id":"66290e2d-0aa1-48ca-8017-7bc1a469896b","block_type":"box","text":"This report has been prepared in accordance with","page_number":69,"box":{"x":572,"y":669,"width":369,"height":9}},{"id":"2aa77361-e2a1-4869-bd05-b05afeae2744","block_type":"box","text":"the recommendations of the TCFD, which aims to help the","page_number":69,"box":{"x":521,"y":682,"width":421,"height":9}},{"id":"d9e01be7-eb27-4878-a208-ae0c6958844a","block_type":"box","text":"investment community build a more in-depth and consistent","page_number":69,"box":{"x":522,"y":695,"width":420,"height":10}},{"id":"4c9c200b-d791-4fae-b95e-52b0f2c19ee4","block_type":"box","text":"picture of the impact of climate change. A copy of Royal","page_number":69,"box":{"x":522,"y":708,"width":419,"height":10}},{"id":"cdf585bb-6bc6-46ea-b9c1-ac0f1db0e72f","block_type":"box","text":"London Asset Management Limited’s annual TCFD Report","page_number":69,"box":{"x":522,"y":721,"width":420,"height":10}},{"id":"56f3ad26-fa37-42a2-8518-0d463f8eff33","block_type":"box","text":"can also be found on our website.","page_number":69,"box":{"x":522,"y":734,"width":227,"height":8}},{"id":"00ee8b7c-cd92-4078-a138-18eb0bd2b36a","block_type":"box","text":"The views expressed are the author’s own and do not","page_number":69,"box":{"x":521,"y":750,"width":421,"height":10}},{"id":"725d3f51-97b4-4530-9bc7-5cd5c7731002","block_type":"box","text":"constitute investment advice and are not an indication","page_number":69,"box":{"x":522,"y":763,"width":419,"height":8}},{"id":"acba693c-64d9-487e-8d19-ad0018998480","block_type":"box","text":"of future Fund performance. Portfolio holdings are","page_number":69,"box":{"x":521,"y":776,"width":421,"height":10}},{"id":"64ed0e64-6a99-44a2-a0d8-23f2e8ca9f53","block_type":"box","text":"subject to change, for information only and are not","page_number":69,"box":{"x":521,"y":789,"width":421,"height":10}},{"id":"72430a9e-ea4f-45b9-b122-0431c5ea336f","block_type":"box","text":"investment recommendations.","page_number":69,"box":{"x":522,"y":803,"width":202,"height":7}},{"id":"a2b9536c-6c5a-43f7-8b85-fb0de796b3b2","block_type":"box","text":"Source: Royal London Asset Management Limited, unless","page_number":69,"box":{"x":522,"y":819,"width":392,"height":10}},{"id":"dc577d1b-777c-4876-b75f-a0974abbb804","block_type":"box","text":"otherwise stated.","page_number":69,"box":{"x":521,"y":832,"width":115,"height":8}},{"id":"9ba01253-891e-4504-bf9c-d07baf60cd87","block_type":"box","text":"Manager’s Investment Report","page_number":69,"box":{"x":58,"y":94,"width":352,"height":14}},{"id":"f8e92901-983a-4a2b-9c7d-c4d47b3f1a5b","block_type":"box","text":"(continued)","page_number":69,"box":{"x":415,"y":97,"width":75,"height":10}},{"id":"a5f6c180-092e-4482-9421-6c1fc463e65f","block_type":"box","text":"Royal London GMAP Moderate Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":69,"box":{"x":460,"y":33,"width":453,"height":8}},{"id":"0ad6f4c8-6d0a-45f0-9b39-7c898e656943","block_type":"box","text":"69","page_number":69,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"613b80d7-5fad-40c6-9a19-a1bfa547bffa","block_type":"box","text":"Class M Accumulation","page_number":70,"box":{"x":57,"y":151,"width":206,"height":9}},{"id":"15ea4949-56f0-48f8-b2c4-6389a5c03624","block_type":"box","text":"30/06/26","page_number":70,"box":{"x":283,"y":177,"width":47,"height":6}},{"id":"9d4cde6b-316c-4dcf-b787-30e60d67c9ed","block_type":"box","text":"31/12/25","page_number":70,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"9ae71f8c-5fb9-4ef9-b8a2-13958ace2acb","block_type":"box","text":"31/12/24**","page_number":70,"box":{"x":418,"y":177,"width":55,"height":6}},{"id":"e15ce1ca-f428-4380-bdad-2539b0d00e6b","block_type":"box","text":"Change in net assets per share","page_number":70,"box":{"x":57,"y":186,"width":178,"height":8}},{"id":"ea698b7d-4a56-4584-8198-1893d329638e","block_type":"box","text":"(p)","page_number":70,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"8b76d617-df2e-4d53-ae77-63dcee68041b","block_type":"box","text":"(p)","page_number":70,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"777c1a29-edb8-44bc-833f-64158a541733","block_type":"box","text":"(p)","page_number":70,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"1b1fc080-21ed-4cd2-80d2-19de73943563","block_type":"box","text":"Opening net asset value per share","page_number":70,"box":{"x":57,"y":205,"width":183,"height":8}},{"id":"a6d28b01-6c74-49ea-a218-2de71c64d672","block_type":"box","text":"112.28","page_number":70,"box":{"x":296,"y":205,"width":34,"height":6}},{"id":"6056c9f8-f24b-4810-9630-1e3bb500f977","block_type":"box","text":"102.97","page_number":70,"box":{"x":367,"y":205,"width":34,"height":6}},{"id":"022ddb5d-2c64-4e47-a936-5487b15a7a68","block_type":"box","text":"100.00","page_number":70,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"242f105b-b66d-463d-a8b9-0a4a737421b2","block_type":"box","text":"Return before operating charges*","page_number":70,"box":{"x":58,"y":222,"width":176,"height":8}},{"id":"35143479-5381-462b-b15d-5c30ad1ea0fe","block_type":"box","text":"8.70","page_number":70,"box":{"x":308,"y":222,"width":22,"height":6}},{"id":"1d2b88a4-1591-4afd-b85d-2d82a2934541","block_type":"box","text":"9.95","page_number":70,"box":{"x":379,"y":222,"width":22,"height":6}},{"id":"911048e8-2d4b-40f6-bb2b-3424380eaea3","block_type":"box","text":"3.23","page_number":70,"box":{"x":450,"y":222,"width":23,"height":6}},{"id":"4fc828e7-3c3e-4b05-8019-ea25b1dbca65","block_type":"box","text":"Operating charges","page_number":70,"box":{"x":57,"y":240,"width":99,"height":8}},{"id":"0bd45594-36d9-42c4-bd91-d253c314fd50","block_type":"box","text":"(0.35)","page_number":70,"box":{"x":304,"y":240,"width":30,"height":8}},{"id":"791e2a0b-7c8b-4056-8ca2-b6b09ecf3793","block_type":"box","text":"(0.64)","page_number":70,"box":{"x":375,"y":240,"width":30,"height":8}},{"id":"5fce0242-46d4-4f3f-a19e-651ed06b1194","block_type":"box","text":"(0.26)","page_number":70,"box":{"x":447,"y":240,"width":30,"height":8}},{"id":"a954dc11-c30b-4e12-a356-ad22c8df4cb5","block_type":"box","text":"Return after operating charges*","page_number":70,"box":{"x":58,"y":257,"width":167,"height":8}},{"id":"636d0afc-26a5-40ba-ba40-fd1a4c362fcb","block_type":"box","text":"8.35","page_number":70,"box":{"x":307,"y":257,"width":23,"height":6}},{"id":"612a04f9-86ae-44a4-95ff-3088d7bf4caf","block_type":"box","text":"9.31","page_number":70,"box":{"x":379,"y":257,"width":21,"height":6}},{"id":"b3b7d9bf-14e2-412e-a636-4c5082abd87b","block_type":"box","text":"2.97","page_number":70,"box":{"x":450,"y":257,"width":23,"height":6}},{"id":"6f32748e-94ba-4ce0-a448-a7e1e469f922","block_type":"box","text":"Distributions on accumulation shares","page_number":70,"box":{"x":58,"y":275,"width":196,"height":6}},{"id":"518d58a0-e53d-4e10-a25e-836cba1d4c08","block_type":"box","text":"(0.74)","page_number":70,"box":{"x":305,"y":275,"width":29,"height":8}},{"id":"aa31470b-52bd-4c7b-8ec0-ff89c7d3fada","block_type":"box","text":"(1.93)","page_number":70,"box":{"x":376,"y":275,"width":29,"height":8}},{"id":"78287d97-f6e4-42ab-9875-846a75665abe","block_type":"box","text":"(0.55)","page_number":70,"box":{"x":447,"y":275,"width":30,"height":8}},{"id":"15e9b013-8e55-4657-946e-423fb302fbb1","block_type":"box","text":"Retained distributions on","page_number":70,"box":{"x":58,"y":292,"width":131,"height":6}},{"id":"fd4f9b64-9f50-4545-9b9e-639e300cf868","block_type":"box","text":"accumulation shares","page_number":70,"box":{"x":57,"y":302,"width":110,"height":6}},{"id":"16dfb871-caf8-4adc-9d3c-63c3fdc5390c","block_type":"box","text":"0.74","page_number":70,"box":{"x":309,"y":292,"width":21,"height":6}},{"id":"7c08a69e-efa9-499d-a993-69fc8d5898cf","block_type":"box","text":"1.93","page_number":70,"box":{"x":380,"y":292,"width":21,"height":6}},{"id":"0cde9792-edbf-49a5-82db-a0864782e0c9","block_type":"box","text":"0.55","page_number":70,"box":{"x":450,"y":292,"width":23,"height":6}},{"id":"b76004aa-1f19-4c0f-949b-8bad28e1d205","block_type":"box","text":"Closing net asset value per share","page_number":70,"box":{"x":57,"y":319,"width":191,"height":8}},{"id":"642d8ae4-d264-4ba6-aa29-4cb6765f8834","block_type":"box","text":"120.63","page_number":70,"box":{"x":295,"y":319,"width":35,"height":6}},{"id":"8bda8085-38f6-4a66-814c-38aa49973486","block_type":"box","text":"112.28","page_number":70,"box":{"x":367,"y":319,"width":34,"height":6}},{"id":"b24a267b-0ff8-4380-8ec8-bdb38bdcc78d","block_type":"box","text":"102.97","page_number":70,"box":{"x":437,"y":319,"width":36,"height":6}},{"id":"8faef33a-1a20-44fe-abf0-1387a6e3c8fa","block_type":"box","text":"* after direct transaction costs of:","page_number":70,"box":{"x":57,"y":337,"width":175,"height":7}},{"id":"82253359-ab95-498e-815d-7636db7680c5","block_type":"box","text":"0.02","page_number":70,"box":{"x":308,"y":338,"width":22,"height":6}},{"id":"ef0c1849-3ac0-46e6-a8bd-5007becb66b1","block_type":"box","text":"0.04","page_number":70,"box":{"x":379,"y":338,"width":22,"height":6}},{"id":"a16e9b1d-6c8e-43b5-a143-9a2ffee7a74e","block_type":"box","text":"0.02","page_number":70,"box":{"x":450,"y":338,"width":23,"height":6}},{"id":"2b294cf3-3ca1-4604-b719-e66fa162a5ef","block_type":"box","text":"Performance","page_number":70,"box":{"x":58,"y":353,"width":73,"height":6}},{"id":"3f6bafa0-6458-4030-bd8f-f864b755e1b2","block_type":"box","text":"Return after charges","page_number":70,"box":{"x":58,"y":363,"width":108,"height":7}},{"id":"1f2b642b-b411-4fe6-8717-8daeeeef8b77","block_type":"box","text":"7.44%","page_number":70,"box":{"x":298,"y":363,"width":32,"height":6}},{"id":"532aa718-d566-4787-a5f4-6d9697e3e47f","block_type":"box","text":"9.04%","page_number":70,"box":{"x":369,"y":363,"width":32,"height":6}},{"id":"3c624768-7b80-4c51-8e04-854d8be56ea9","block_type":"box","text":"2.97%","page_number":70,"box":{"x":440,"y":363,"width":33,"height":6}},{"id":"985af315-04b1-4955-94d4-b02979a8a8fe","block_type":"box","text":"Other information","page_number":70,"box":{"x":57,"y":381,"width":102,"height":6}},{"id":"554f3f06-41ce-4b83-a3b7-152d53ecd6e7","block_type":"box","text":"Closing net asset value (£’000)","page_number":70,"box":{"x":57,"y":390,"width":165,"height":8}},{"id":"911d7442-2b79-4834-8d46-7876772a6f2b","block_type":"box","text":"5,567","page_number":70,"box":{"x":301,"y":390,"width":29,"height":7}},{"id":"bb6fa20c-c084-4faa-af4a-20f171273101","block_type":"box","text":"4,238","page_number":70,"box":{"x":372,"y":390,"width":29,"height":7}},{"id":"d98d9299-5628-4a40-a59e-a13b8119bdc6","block_type":"box","text":"187","page_number":70,"box":{"x":455,"y":390,"width":18,"height":6}},{"id":"e426fec4-d101-45f2-ba86-120c3c2ffb61","block_type":"box","text":"Closing number of shares","page_number":70,"box":{"x":57,"y":400,"width":136,"height":8}},{"id":"282a3dc9-28f4-4a37-936c-50052fd51ef1","block_type":"box","text":"4,614,917","page_number":70,"box":{"x":282,"y":400,"width":48,"height":7}},{"id":"7db2cbd2-3eaf-438e-85be-db10f0dd49ed","block_type":"box","text":"3,774,396","page_number":70,"box":{"x":353,"y":400,"width":48,"height":7}},{"id":"79df8fd9-295d-40db-83f1-c293f3a374a4","block_type":"box","text":"181,678","page_number":70,"box":{"x":435,"y":400,"width":38,"height":7}},{"id":"08f31369-760c-4a06-b130-f17d8f64660a","block_type":"box","text":"Operating charges","page_number":70,"box":{"x":57,"y":410,"width":99,"height":8}},{"id":"02c21704-eb2b-41fa-a89e-b8e5150c1ce3","block_type":"box","text":"0.60%","page_number":70,"box":{"x":297,"y":410,"width":33,"height":7}},{"id":"015d30f6-7a3e-488b-9943-77352c3fe4bf","block_type":"box","text":"0.60%","page_number":70,"box":{"x":368,"y":410,"width":33,"height":7}},{"id":"b2677383-763e-4497-b5d1-4470d7dcb06b","block_type":"box","text":"0.60%","page_number":70,"box":{"x":440,"y":410,"width":33,"height":7}},{"id":"95a93cbd-e9fb-445d-abb9-08f5e60191a7","block_type":"box","text":"Direct transaction costs","page_number":70,"box":{"x":58,"y":420,"width":125,"height":7}},{"id":"2c1382e5-6e3a-4e68-9cd3-fc6cd0e82d27","block_type":"box","text":"0.02%","page_number":70,"box":{"x":297,"y":420,"width":33,"height":7}},{"id":"698defeb-a2d3-4582-81e0-5029e925db57","block_type":"box","text":"0.04%","page_number":70,"box":{"x":369,"y":420,"width":32,"height":7}},{"id":"69f94366-efba-4f9f-a011-0210589936e6","block_type":"box","text":"0.02%","page_number":70,"box":{"x":440,"y":420,"width":33,"height":7}},{"id":"8aeb8838-964d-4670-a0a2-73e410063b72","block_type":"box","text":"Prices","page_number":70,"box":{"x":58,"y":438,"width":35,"height":7}},{"id":"638c3b6a-667d-4b81-8c6d-5237133f62e2","block_type":"box","text":"^","page_number":70,"box":{"x":94,"y":438,"width":3,"height":2}},{"id":"c5f58ec0-3392-4b3b-88e8-e7836071e8f8","block_type":"box","text":"Highest share price","page_number":70,"box":{"x":58,"y":448,"width":102,"height":8}},{"id":"1f5d8dbf-86ac-4e32-9ce0-a117679dbae6","block_type":"box","text":"121.10","page_number":70,"box":{"x":297,"y":448,"width":33,"height":6}},{"id":"a4807a7c-ea34-4868-b23f-8d1611922646","block_type":"box","text":"112.90","page_number":70,"box":{"x":367,"y":448,"width":34,"height":6}},{"id":"1ddd4263-b93e-447f-96b3-d780b299d4bb","block_type":"box","text":"104.20","page_number":70,"box":{"x":438,"y":448,"width":35,"height":6}},{"id":"31b227a8-90dc-40a7-bd8c-1a08da30cec4","block_type":"box","text":"Lowest share price","page_number":70,"box":{"x":58,"y":458,"width":99,"height":8}},{"id":"5576b970-6463-4b2a-ab23-b9e0812a511b","block_type":"box","text":"112.70","page_number":70,"box":{"x":297,"y":458,"width":33,"height":6}},{"id":"e87a298c-c495-4e1e-a52a-4db399239ef1","block_type":"box","text":"97.32","page_number":70,"box":{"x":373,"y":458,"width":28,"height":6}},{"id":"a9dfa129-4652-46fa-a34f-eacb26cdcead","block_type":"box","text":"99.26","page_number":70,"box":{"x":443,"y":458,"width":30,"height":6}},{"id":"d07b06f6-019e-4382-a0ad-9a59cb78b0fb","block_type":"box","text":"** Class M Accumulation launched on 25 July 2024.","page_number":70,"box":{"x":57,"y":481,"width":274,"height":8}},{"id":"d962e9e7-3e7e-4e3d-9f37-9d167c234377","block_type":"box","text":"Class M Income","page_number":70,"box":{"x":57,"y":506,"width":146,"height":9}},{"id":"b86ca8c1-d530-4b91-88d1-b0bae8ad5dce","block_type":"box","text":"30/06/26","page_number":70,"box":{"x":283,"y":532,"width":47,"height":6}},{"id":"bdc9be62-5621-4893-b081-a56108b921f5","block_type":"box","text":"31/12/25","page_number":70,"box":{"x":356,"y":532,"width":46,"height":6}},{"id":"8773b96e-070c-47ed-8653-55ccf5fe6e37","block_type":"box","text":"31/12/24**","page_number":70,"box":{"x":418,"y":532,"width":55,"height":6}},{"id":"fbaf6ce7-bc4a-439c-99eb-3c4dbe34e523","block_type":"box","text":"Change in net assets per share","page_number":70,"box":{"x":57,"y":542,"width":178,"height":8}},{"id":"2cf901ff-76b8-45b0-8103-66f6df24d345","block_type":"box","text":"(p)","page_number":70,"box":{"x":316,"y":542,"width":14,"height":8}},{"id":"3f7783b7-9974-4e25-bcd9-b2385c97a5f5","block_type":"box","text":"(p)","page_number":70,"box":{"x":387,"y":542,"width":14,"height":8}},{"id":"1dcebc24-a78b-457c-b603-0603634c9fd4","block_type":"box","text":"(p)","page_number":70,"box":{"x":459,"y":542,"width":14,"height":8}},{"id":"04323a81-5153-4c16-a5bd-97345558845d","block_type":"box","text":"Opening net asset value per share","page_number":70,"box":{"x":57,"y":560,"width":183,"height":8}},{"id":"281909d1-a1f5-44aa-b1bb-d1c01d866520","block_type":"box","text":"109.72","page_number":70,"box":{"x":296,"y":560,"width":34,"height":7}},{"id":"33e64696-d64e-4abf-991b-de1ae752d369","block_type":"box","text":"102.43","page_number":70,"box":{"x":366,"y":560,"width":35,"height":7}},{"id":"b153dfc3-9b5c-4c4b-ad82-33bd2348a454","block_type":"box","text":"100.00","page_number":70,"box":{"x":438,"y":560,"width":35,"height":7}},{"id":"88dfaf2e-b942-4872-9ea0-d4f0e895b7c6","block_type":"box","text":"Return before operating charges*","page_number":70,"box":{"x":58,"y":578,"width":176,"height":8}},{"id":"cd07e806-1db2-438c-a530-a53c62c60dde","block_type":"box","text":"8.48","page_number":70,"box":{"x":307,"y":578,"width":23,"height":6}},{"id":"dc9f3694-7604-4f1e-9e69-f203f5fedfff","block_type":"box","text":"9.83","page_number":70,"box":{"x":379,"y":578,"width":22,"height":6}},{"id":"9a452f00-ffe1-4d05-a90f-2b3e70e4d751","block_type":"box","text":"3.24","page_number":70,"box":{"x":450,"y":578,"width":23,"height":6}},{"id":"a0222cd2-6b8f-4418-acc3-69f5644b2d25","block_type":"box","text":"Operating charges","page_number":70,"box":{"x":57,"y":595,"width":99,"height":8}},{"id":"c4b4eee8-95de-450e-81bc-9fb4e9aed101","block_type":"box","text":"(0.35)","page_number":70,"box":{"x":304,"y":595,"width":30,"height":8}},{"id":"d7c7572b-29b2-495e-83be-0fe2b64525ff","block_type":"box","text":"(0.62)","page_number":70,"box":{"x":376,"y":595,"width":29,"height":8}},{"id":"0fbe5f04-fb27-45c0-944f-ea5d2a8e16b9","block_type":"box","text":"(0.26)","page_number":70,"box":{"x":447,"y":595,"width":30,"height":8}},{"id":"a256ee34-0563-4495-9139-af9bf9254733","block_type":"box","text":"Return after operating charges*","page_number":70,"box":{"x":58,"y":613,"width":167,"height":8}},{"id":"4409c065-9f25-498d-a68d-43ab41735907","block_type":"box","text":"8.13","page_number":70,"box":{"x":309,"y":613,"width":21,"height":6}},{"id":"b5c04b1a-3486-4ced-8151-cf9b15a7ea02","block_type":"box","text":"9.21","page_number":70,"box":{"x":379,"y":613,"width":21,"height":6}},{"id":"bdb9fb75-764f-4408-9163-66f270e9affb","block_type":"box","text":"2.98","page_number":70,"box":{"x":450,"y":613,"width":23,"height":6}},{"id":"ab8168d4-9846-4617-8517-1c397d16b9f6","block_type":"box","text":"Distributions on income shares","page_number":70,"box":{"x":58,"y":631,"width":164,"height":6}},{"id":"a705b673-867c-48bb-9668-ea3cf71ecd58","block_type":"box","text":"(0.70)","page_number":70,"box":{"x":305,"y":630,"width":29,"height":8}},{"id":"3e74359a-2331-4f2a-82d3-ce32a4ef6fb2","block_type":"box","text":"(1.92)","page_number":70,"box":{"x":376,"y":630,"width":29,"height":8}},{"id":"be43b02b-f5c1-4fa0-b641-a468c804e6cc","block_type":"box","text":"(0.55)","page_number":70,"box":{"x":447,"y":630,"width":30,"height":8}},{"id":"7dfbd281-fbf3-4ed5-b7e8-9f35811768b5","block_type":"box","text":"Closing net asset value per share","page_number":70,"box":{"x":57,"y":648,"width":191,"height":8}},{"id":"4c6c7d77-79f9-4ebd-82ed-139cc2725954","block_type":"box","text":"117.15","page_number":70,"box":{"x":298,"y":648,"width":32,"height":6}},{"id":"00b268bd-ff72-479f-b390-7abc4a38f06f","block_type":"box","text":"109.72","page_number":70,"box":{"x":367,"y":648,"width":34,"height":6}},{"id":"b2dd1b41-5c11-46cf-8ad6-bd8241f0e608","block_type":"box","text":"102.43","page_number":70,"box":{"x":437,"y":648,"width":36,"height":6}},{"id":"25d2cce9-64d4-4c6a-9956-7e060bd144ea","block_type":"box","text":"* after direct transaction costs of:","page_number":70,"box":{"x":57,"y":666,"width":175,"height":6}},{"id":"d68ad44f-6245-4ed3-bfa5-f55e26964ce1","block_type":"box","text":"0.02","page_number":70,"box":{"x":308,"y":666,"width":22,"height":6}},{"id":"780135f1-ba29-432d-be62-cf1331509798","block_type":"box","text":"0.04","page_number":70,"box":{"x":379,"y":666,"width":22,"height":6}},{"id":"42f2714c-7f38-4818-aec1-a5b89961c1f0","block_type":"box","text":"0.02","page_number":70,"box":{"x":450,"y":666,"width":23,"height":6}},{"id":"17b40cd1-9cd0-4267-a273-2677bac83f41","block_type":"box","text":"Performance","page_number":70,"box":{"x":58,"y":682,"width":73,"height":6}},{"id":"4a5e662e-3268-4fbc-99e8-e66a6378dbd6","block_type":"box","text":"Return after charges","page_number":70,"box":{"x":58,"y":691,"width":108,"height":8}},{"id":"890ae4ef-78d2-41f5-84c7-8a4612b7e9c7","block_type":"box","text":"7.41%","page_number":70,"box":{"x":300,"y":691,"width":30,"height":7}},{"id":"739de1d2-2a98-4717-ab5e-30c1747bdf94","block_type":"box","text":"8.99%","page_number":70,"box":{"x":368,"y":691,"width":33,"height":7}},{"id":"a53c3738-7504-4735-b0a5-e23b8f15629c","block_type":"box","text":"2.98%","page_number":70,"box":{"x":439,"y":691,"width":34,"height":7}},{"id":"38f8da26-a548-4c5e-b4b3-4e152b2cde1e","block_type":"box","text":"Other information","page_number":70,"box":{"x":57,"y":709,"width":102,"height":6}},{"id":"a4f86542-3356-4432-af1e-464b3252f496","block_type":"box","text":"Closing net asset value (£’000)","page_number":70,"box":{"x":57,"y":719,"width":165,"height":7}},{"id":"2c5abb34-5e7a-4ea3-91c1-0f68545ba53a","block_type":"box","text":"3","page_number":70,"box":{"x":324,"y":719,"width":6,"height":6}},{"id":"cf78700f-5592-4af0-af7c-e0f542eafb07","block_type":"box","text":"3","page_number":70,"box":{"x":396,"y":719,"width":5,"height":6}},{"id":"54c1d224-595a-465d-8141-5e12df6c2215","block_type":"box","text":"3","page_number":70,"box":{"x":467,"y":719,"width":6,"height":6}},{"id":"a9fbed95-5e84-4599-bb1e-cb2e373c3e42","block_type":"box","text":"Closing number of shares","page_number":70,"box":{"x":57,"y":729,"width":136,"height":8}},{"id":"930183a2-1bf5-4683-9b5d-d6c6b5ef8df6","block_type":"box","text":"2,500","page_number":70,"box":{"x":302,"y":729,"width":28,"height":7}},{"id":"fc68fe47-705e-43c7-ac48-fbb00e26832f","block_type":"box","text":"2,500","page_number":70,"box":{"x":374,"y":729,"width":27,"height":7}},{"id":"a00de2da-b487-4e45-a2c7-fc3f850a77e3","block_type":"box","text":"2,500","page_number":70,"box":{"x":445,"y":729,"width":28,"height":7}},{"id":"3a07bdb5-4609-4d87-968d-727cfb81332a","block_type":"box","text":"Operating charges","page_number":70,"box":{"x":57,"y":739,"width":99,"height":8}},{"id":"fcec0ef9-f37e-4df8-a00e-bb9f4a94604d","block_type":"box","text":"0.60%","page_number":70,"box":{"x":297,"y":739,"width":33,"height":6}},{"id":"e99d6ca1-d668-4d03-b282-83d0affaef98","block_type":"box","text":"0.60%","page_number":70,"box":{"x":368,"y":739,"width":33,"height":6}},{"id":"62347d91-12a9-49c4-9fe2-f68f3f3e0466","block_type":"box","text":"0.60%","page_number":70,"box":{"x":440,"y":739,"width":33,"height":6}},{"id":"1d7e1830-1075-4f7b-b1ac-d19b08a093f5","block_type":"box","text":"Direct transaction costs","page_number":70,"box":{"x":58,"y":749,"width":125,"height":6}},{"id":"d6ba29c5-7109-4810-8765-3ebf6408cfb8","block_type":"box","text":"0.02%","page_number":70,"box":{"x":297,"y":749,"width":33,"height":6}},{"id":"b07c01b6-f551-43e0-b5ab-8093e4d4d838","block_type":"box","text":"0.04%","page_number":70,"box":{"x":369,"y":749,"width":32,"height":6}},{"id":"e985188c-a45d-4eec-a6cd-38a32ba152d8","block_type":"box","text":"0.02%","page_number":70,"box":{"x":440,"y":749,"width":33,"height":6}},{"id":"a1746a74-e800-4220-a8dc-3364b221a8f4","block_type":"box","text":"Prices","page_number":70,"box":{"x":58,"y":767,"width":35,"height":6}},{"id":"552dc6b5-5c83-4244-b204-c6e9e35402de","block_type":"box","text":"^","page_number":70,"box":{"x":94,"y":767,"width":3,"height":2}},{"id":"ff4fbf4a-908f-4e77-95d1-e6483e016885","block_type":"box","text":"Highest share price","page_number":70,"box":{"x":58,"y":776,"width":102,"height":8}},{"id":"4a773bf0-0f78-4445-a929-dfd4eb4147ff","block_type":"box","text":"118.40","page_number":70,"box":{"x":296,"y":776,"width":34,"height":7}},{"id":"5e7e9c3b-414c-4d73-bf43-09a66c34c1a6","block_type":"box","text":"111.50","page_number":70,"box":{"x":369,"y":776,"width":32,"height":7}},{"id":"a2370193-77e9-424c-bd1a-cc35621e25f8","block_type":"box","text":"104.20","page_number":70,"box":{"x":438,"y":776,"width":35,"height":7}},{"id":"7caf4509-ff06-4e20-a354-6b02de0f1845","block_type":"box","text":"Lowest share price","page_number":70,"box":{"x":58,"y":787,"width":99,"height":7}},{"id":"a41c0278-6764-4317-85e4-20e956dfc333","block_type":"box","text":"110.20","page_number":70,"box":{"x":296,"y":787,"width":34,"height":6}},{"id":"ec53aa61-5e04-472e-af06-a2015a8df976","block_type":"box","text":"96.81","page_number":70,"box":{"x":372,"y":787,"width":28,"height":6}},{"id":"54652c19-035b-4876-a38c-fdc050413fa2","block_type":"box","text":"99.26","page_number":70,"box":{"x":443,"y":787,"width":30,"height":6}},{"id":"6750e0b5-c796-4214-950b-be0f51df679d","block_type":"box","text":"** Class M Income launched on 25 July 2024.","page_number":70,"box":{"x":57,"y":810,"width":241,"height":8}},{"id":"546da69d-4bf8-43d6-a270-823c8e0e3149","block_type":"box","text":"Class R Accumulation","page_number":70,"box":{"x":522,"y":151,"width":202,"height":9}},{"id":"694d04ef-2b13-4284-9eb9-6721504f5404","block_type":"box","text":"30/06/26","page_number":70,"box":{"x":748,"y":177,"width":46,"height":6}},{"id":"69573322-fa18-4595-8534-9505c9cf0590","block_type":"box","text":"31/12/25","page_number":70,"box":{"x":820,"y":177,"width":46,"height":6}},{"id":"576c1107-5e10-406f-947c-9312002f268b","block_type":"box","text":"31/12/24**","page_number":70,"box":{"x":882,"y":177,"width":55,"height":6}},{"id":"59a83c35-05a7-468e-bb6c-8bc1fc0279dc","block_type":"box","text":"Change in net assets per share","page_number":70,"box":{"x":521,"y":186,"width":178,"height":8}},{"id":"5e86fc4c-0a7a-4568-9c07-0482cb280c44","block_type":"box","text":"(p)","page_number":70,"box":{"x":780,"y":186,"width":14,"height":8}},{"id":"c3cb3b64-cc13-495d-acfb-5f5d80e39a87","block_type":"box","text":"(p)","page_number":70,"box":{"x":852,"y":186,"width":14,"height":8}},{"id":"8e5b7362-0d25-4e87-af3f-84a0a8e31923","block_type":"box","text":"(p)","page_number":70,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"f946a673-c8d7-40cb-9d55-24472be29563","block_type":"box","text":"Opening net asset value per share","page_number":70,"box":{"x":521,"y":205,"width":183,"height":8}},{"id":"01fced43-493a-4a9d-a3e8-02baa8dd5332","block_type":"box","text":"112.89","page_number":70,"box":{"x":760,"y":205,"width":34,"height":6}},{"id":"6c3448b6-02ff-45d2-b36c-e2222c8076bb","block_type":"box","text":"103.14","page_number":70,"box":{"x":832,"y":205,"width":34,"height":6}},{"id":"789e52db-3cc4-4056-90cf-cd0d0ab855e8","block_type":"box","text":"100.00","page_number":70,"box":{"x":902,"y":205,"width":35,"height":6}},{"id":"d37a3cf7-2e35-482b-b72a-2ef77c945acb","block_type":"box","text":"Return before operating charges*","page_number":70,"box":{"x":522,"y":222,"width":177,"height":8}},{"id":"a272527a-6511-4a99-a34b-5f7456d1decb","block_type":"box","text":"8.67","page_number":70,"box":{"x":772,"y":222,"width":22,"height":6}},{"id":"20561d94-5bf5-4559-9232-73a0f3f5be16","block_type":"box","text":"9.88","page_number":70,"box":{"x":843,"y":222,"width":23,"height":6}},{"id":"966e235d-c845-45a6-91c4-2d1d276a6d2d","block_type":"box","text":"3.19","page_number":70,"box":{"x":916,"y":222,"width":21,"height":6}},{"id":"49fe808a-7860-48c5-b92d-482d1b6ed888","block_type":"box","text":"Operating charges","page_number":70,"box":{"x":521,"y":240,"width":99,"height":8}},{"id":"48e41721-070c-4368-8148-bfea88e2e470","block_type":"box","text":"(0.07)","page_number":70,"box":{"x":768,"y":240,"width":30,"height":8}},{"id":"4c6e7b6c-b76c-45eb-a0b3-3d0347ea41d5","block_type":"box","text":"(0.13)","page_number":70,"box":{"x":841,"y":240,"width":29,"height":8}},{"id":"bd1d05d4-7e10-43ca-8261-57637d3271fc","block_type":"box","text":"(0.05)","page_number":70,"box":{"x":911,"y":240,"width":30,"height":8}},{"id":"c8e59e0e-818b-4343-b4f4-8338105152a8","block_type":"box","text":"Return after operating charges*","page_number":70,"box":{"x":522,"y":257,"width":167,"height":8}},{"id":"00e406ae-2039-4787-8dad-8830b35d31da","block_type":"box","text":"8.60","page_number":70,"box":{"x":772,"y":257,"width":22,"height":6}},{"id":"5ce0ead7-bade-4e44-8649-afb4fe329a28","block_type":"box","text":"9.75","page_number":70,"box":{"x":844,"y":257,"width":22,"height":6}},{"id":"9d9e75e0-5c75-4403-b4fc-2a0f67bf46fe","block_type":"box","text":"3.14","page_number":70,"box":{"x":916,"y":257,"width":21,"height":6}},{"id":"4a67d4fe-c9df-4b22-8438-2ea5645830bd","block_type":"box","text":"Distributions on accumulation shares","page_number":70,"box":{"x":522,"y":275,"width":196,"height":6}},{"id":"8b08993c-ca40-4d04-8a76-faaf3eab95c8","block_type":"box","text":"(0.95)","page_number":70,"box":{"x":768,"y":275,"width":30,"height":8}},{"id":"42878e46-0686-40cb-a791-413ac9e26e6f","block_type":"box","text":"(2.34)","page_number":70,"box":{"x":840,"y":275,"width":30,"height":8}},{"id":"871ee378-3690-462a-98b7-4dd88f814a00","block_type":"box","text":"(0.71)","page_number":70,"box":{"x":913,"y":275,"width":28,"height":8}},{"id":"bdad1bcb-c44d-414e-8347-12cd0d56fe0b","block_type":"box","text":"Retained distributions on","page_number":70,"box":{"x":522,"y":292,"width":131,"height":6}},{"id":"90e87c65-6ddd-4c43-864c-5a7267f9d7ef","block_type":"box","text":"accumulation shares","page_number":70,"box":{"x":521,"y":302,"width":110,"height":6}},{"id":"e970e65e-0a3c-4ef2-a046-b66c237d5d61","block_type":"box","text":"0.95","page_number":70,"box":{"x":772,"y":292,"width":22,"height":6}},{"id":"4f77ec83-3e01-40fb-8235-f5e73980b27d","block_type":"box","text":"2.34","page_number":70,"box":{"x":843,"y":292,"width":23,"height":6}},{"id":"1dc3afde-0c36-4929-b8cb-a81612b93ca5","block_type":"box","text":"0.71","page_number":70,"box":{"x":916,"y":292,"width":19,"height":6}},{"id":"933d7e28-e343-429e-8440-bf64ab18c458","block_type":"box","text":"Closing net asset value per share","page_number":70,"box":{"x":521,"y":319,"width":192,"height":8}},{"id":"776fd093-0162-4b00-831a-06f2340d586d","block_type":"box","text":"121.49","page_number":70,"box":{"x":759,"y":319,"width":35,"height":6}},{"id":"28b8e8b9-5b95-4685-927d-8ad732341203","block_type":"box","text":"112.89","page_number":70,"box":{"x":831,"y":319,"width":35,"height":6}},{"id":"fc27766a-541c-4ac3-a397-bda9ec7e9546","block_type":"box","text":"103.14","page_number":70,"box":{"x":903,"y":319,"width":34,"height":6}},{"id":"bf1f29b7-84b1-40e9-b071-e6a8448a8b21","block_type":"box","text":"* after direct transaction costs of:","page_number":70,"box":{"x":521,"y":337,"width":175,"height":7}},{"id":"4d13fdef-20e8-42f2-aed4-a929e667cac4","block_type":"box","text":"0.02","page_number":70,"box":{"x":772,"y":338,"width":22,"height":6}},{"id":"7efbd1dd-e3f3-4454-a2a6-cffb755a420f","block_type":"box","text":"0.04","page_number":70,"box":{"x":843,"y":338,"width":23,"height":6}},{"id":"a0a2d50f-e381-4d0f-8ee1-ad84952e2664","block_type":"box","text":"0.02","page_number":70,"box":{"x":915,"y":338,"width":22,"height":6}},{"id":"1d953472-b3d3-43d8-aaca-288cf0b30daa","block_type":"box","text":"Performance","page_number":70,"box":{"x":522,"y":353,"width":73,"height":6}},{"id":"35840122-62c8-4667-b604-a1e53a493383","block_type":"box","text":"Return after charges","page_number":70,"box":{"x":522,"y":363,"width":109,"height":7}},{"id":"a482dbae-d4fb-475e-9ae0-5a6fb97eef75","block_type":"box","text":"7.62%","page_number":70,"box":{"x":762,"y":363,"width":32,"height":6}},{"id":"704e65d0-ff4c-4394-8b54-6f7c0f2b655f","block_type":"box","text":"9.45%","page_number":70,"box":{"x":833,"y":363,"width":32,"height":6}},{"id":"39b16204-5ece-4764-bcba-a08f5d3611c6","block_type":"box","text":"3.14%","page_number":70,"box":{"x":906,"y":363,"width":31,"height":6}},{"id":"d5760ee5-a48e-4850-9174-11bee6b57cf8","block_type":"box","text":"Other information","page_number":70,"box":{"x":521,"y":381,"width":102,"height":6}},{"id":"86d30a78-732e-448f-a9c6-8a78ff2991ee","block_type":"box","text":"Closing net asset value (£’000)","page_number":70,"box":{"x":522,"y":390,"width":164,"height":8}},{"id":"81e50ac7-f842-489f-a273-48d86d753da4","block_type":"box","text":"46,972","page_number":70,"box":{"x":758,"y":390,"width":36,"height":7}},{"id":"e18ee67c-c1f4-4792-a3e8-96fc9dfdffb4","block_type":"box","text":"43,943","page_number":70,"box":{"x":829,"y":390,"width":37,"height":7}},{"id":"49eb78f7-e0eb-4990-99da-1a04dab6909f","block_type":"box","text":"30,943","page_number":70,"box":{"x":901,"y":390,"width":36,"height":7}},{"id":"b8d71e23-03ee-4298-b7c9-d8db24878c29","block_type":"box","text":"Closing number of shares","page_number":70,"box":{"x":522,"y":400,"width":135,"height":8}},{"id":"4dbda7a6-7d55-408b-a5af-12c88bdb0ed1","block_type":"box","text":"38,662,852","page_number":70,"box":{"x":734,"y":400,"width":60,"height":7}},{"id":"874bdcdb-7c33-433b-83a4-c89b8834d6eb","block_type":"box","text":"38,925,857","page_number":70,"box":{"x":806,"y":400,"width":60,"height":7}},{"id":"b29425f4-0926-427b-9d07-8a53d7080ece","block_type":"box","text":"30,000,000","page_number":70,"box":{"x":877,"y":400,"width":60,"height":7}},{"id":"581b678c-e03a-42f1-9afb-af7524c6e54d","block_type":"box","text":"Operating charges","page_number":70,"box":{"x":521,"y":410,"width":99,"height":8}},{"id":"6a15b63d-0f2c-48ff-9cb6-d6179a28ae5a","block_type":"box","text":"0.12%","page_number":70,"box":{"x":763,"y":410,"width":31,"height":7}},{"id":"9298abd7-043e-40ee-bdc5-e55d13557069","block_type":"box","text":"0.12%","page_number":70,"box":{"x":834,"y":410,"width":31,"height":7}},{"id":"cae46683-66f3-4f47-967e-361785808831","block_type":"box","text":"0.12%","page_number":70,"box":{"x":906,"y":410,"width":31,"height":7}},{"id":"1fcfb9be-ff6e-4c0c-8726-712824a8bcf2","block_type":"box","text":"Direct transaction costs","page_number":70,"box":{"x":522,"y":420,"width":125,"height":7}},{"id":"a73f1838-302f-440e-b551-2af54ef4b979","block_type":"box","text":"0.02%","page_number":70,"box":{"x":761,"y":420,"width":33,"height":7}},{"id":"5093554b-2a96-407f-bfda-d5effb67ef45","block_type":"box","text":"0.04%","page_number":70,"box":{"x":833,"y":420,"width":32,"height":7}},{"id":"34df4e28-6a71-4592-946b-bc1af171aa32","block_type":"box","text":"0.02%","page_number":70,"box":{"x":904,"y":420,"width":33,"height":7}},{"id":"d35470ae-dabc-4dca-8456-6a03fa09cc26","block_type":"box","text":"Prices","page_number":70,"box":{"x":522,"y":438,"width":35,"height":7}},{"id":"c6ef4f3e-1312-4506-af1a-e2cb20a29a1f","block_type":"box","text":"^","page_number":70,"box":{"x":558,"y":438,"width":3,"height":2}},{"id":"468db3cb-3b7c-42e4-966a-7f7099d140d7","block_type":"box","text":"Highest share price","page_number":70,"box":{"x":522,"y":448,"width":103,"height":8}},{"id":"819fab47-b725-41e8-b52f-cb3fb86b12d3","block_type":"box","text":"122.00","page_number":70,"box":{"x":759,"y":448,"width":35,"height":6}},{"id":"3d214971-e526-43c3-8da6-fc142a307075","block_type":"box","text":"113.50","page_number":70,"box":{"x":832,"y":448,"width":34,"height":6}},{"id":"13e835d4-2121-484d-8563-89e2d5fe4f30","block_type":"box","text":"104.40","page_number":70,"box":{"x":902,"y":448,"width":35,"height":6}},{"id":"c9636277-a2cf-4d72-8ee7-462c8601b7c4","block_type":"box","text":"Lowest share price","page_number":70,"box":{"x":522,"y":458,"width":100,"height":8}},{"id":"05b6d1cc-3c78-46b2-b7a0-b1031a6feb38","block_type":"box","text":"113.40","page_number":70,"box":{"x":760,"y":458,"width":34,"height":6}},{"id":"ce16ae34-8c12-4428-83d5-ecc2c3a51433","block_type":"box","text":"97.58","page_number":70,"box":{"x":838,"y":458,"width":28,"height":6}},{"id":"a8d62270-1cdc-4cea-a493-fd8dc6db724a","block_type":"box","text":"99.27","page_number":70,"box":{"x":908,"y":458,"width":29,"height":6}},{"id":"359917e8-636d-4d11-a9c0-89a4ecd2db70","block_type":"box","text":"** Class R Accumulation launched on 25 July 2024.","page_number":70,"box":{"x":521,"y":481,"width":273,"height":8}},{"id":"402cd5f2-4766-4cf6-8d82-55c9b85ec1eb","block_type":"box","text":"Class S Accumulation","page_number":70,"box":{"x":522,"y":506,"width":201,"height":9}},{"id":"0b8800cc-ccd4-4534-b6ec-a87927662511","block_type":"box","text":"30/06/26","page_number":70,"box":{"x":748,"y":532,"width":46,"height":6}},{"id":"d2e97b8d-6a6d-40c6-a495-81b26faac3ba","block_type":"box","text":"31/12/25","page_number":70,"box":{"x":820,"y":532,"width":46,"height":6}},{"id":"10e844ad-554b-4421-9d33-2c8b20cd6488","block_type":"box","text":"31/12/24**","page_number":70,"box":{"x":882,"y":532,"width":55,"height":6}},{"id":"0916703f-c08d-4127-84a5-2aece81e38c1","block_type":"box","text":"Change in net assets per share","page_number":70,"box":{"x":521,"y":542,"width":178,"height":8}},{"id":"aecdebf1-205d-4919-b53e-20f281764dd1","block_type":"box","text":"(p)","page_number":70,"box":{"x":780,"y":542,"width":14,"height":8}},{"id":"4ac8c383-3ef1-4276-bf6a-4c601a634b34","block_type":"box","text":"(p)","page_number":70,"box":{"x":852,"y":542,"width":14,"height":8}},{"id":"295b5cd8-e537-409b-ab71-ac103d7bfe33","block_type":"box","text":"(p)","page_number":70,"box":{"x":923,"y":542,"width":14,"height":8}},{"id":"d0bb2cc7-683e-44c5-88b1-e4b5f2662d80","block_type":"box","text":"Opening net asset value per share","page_number":70,"box":{"x":521,"y":560,"width":183,"height":8}},{"id":"1470799b-b99f-4555-9736-91516f15b38b","block_type":"box","text":"112.87","page_number":70,"box":{"x":761,"y":560,"width":33,"height":7}},{"id":"77c26222-5f0b-4db8-94a3-de8ca56fe935","block_type":"box","text":"103.13","page_number":70,"box":{"x":832,"y":560,"width":34,"height":7}},{"id":"755a8706-3199-476a-848d-00b90c63ed6a","block_type":"box","text":"100.00","page_number":70,"box":{"x":902,"y":560,"width":35,"height":7}},{"id":"1f00332d-8813-4e61-a1d9-6f479e286b6b","block_type":"box","text":"Return before operating charges*","page_number":70,"box":{"x":522,"y":578,"width":177,"height":8}},{"id":"dea88c5c-9eec-441c-906f-0ee55d1b15c4","block_type":"box","text":"8.67","page_number":70,"box":{"x":772,"y":578,"width":22,"height":6}},{"id":"904556ed-2ee7-49e6-ae88-9b064139436d","block_type":"box","text":"9.89","page_number":70,"box":{"x":843,"y":578,"width":23,"height":6}},{"id":"f7f9cc46-17ea-44f4-9740-1a381b52ed95","block_type":"box","text":"3.19","page_number":70,"box":{"x":916,"y":578,"width":21,"height":6}},{"id":"7cc457cb-5091-4ffb-8ac2-4495dc9ca5c0","block_type":"box","text":"Operating charges","page_number":70,"box":{"x":521,"y":595,"width":99,"height":8}},{"id":"1f5273ae-e153-41b1-992a-cb3d1fb8f905","block_type":"box","text":"(0.08)","page_number":70,"box":{"x":768,"y":595,"width":30,"height":8}},{"id":"6baf7492-1108-4cef-a11e-319706b0873f","block_type":"box","text":"(0.15)","page_number":70,"box":{"x":841,"y":595,"width":29,"height":8}},{"id":"fc72a9f5-c882-4ef9-8357-98e904a1fda4","block_type":"box","text":"(0.06)","page_number":70,"box":{"x":911,"y":595,"width":30,"height":8}},{"id":"b2711c38-a13c-45d1-8df7-8b508c7d0ee1","block_type":"box","text":"Return after operating charges*","page_number":70,"box":{"x":522,"y":613,"width":167,"height":8}},{"id":"17e65bab-6a9e-47ee-ad7d-ff5eee5934ec","block_type":"box","text":"8.59","page_number":70,"box":{"x":772,"y":613,"width":22,"height":6}},{"id":"f9a17ee5-bf03-48a4-8658-5987b01defcc","block_type":"box","text":"9.74","page_number":70,"box":{"x":844,"y":613,"width":22,"height":6}},{"id":"89ac9996-22e4-43ca-803a-f58a980e7854","block_type":"box","text":"3.13","page_number":70,"box":{"x":916,"y":613,"width":21,"height":6}},{"id":"63271bf6-59f0-45f6-aceb-5aed501a58cb","block_type":"box","text":"Distributions on accumulation shares","page_number":70,"box":{"x":522,"y":631,"width":196,"height":6}},{"id":"58f3c078-296c-4037-ba4b-65824de8713f","block_type":"box","text":"(0.95)","page_number":70,"box":{"x":768,"y":630,"width":30,"height":8}},{"id":"fb709763-f96a-4c30-943e-1bd4e325bbf3","block_type":"box","text":"(2.33)","page_number":70,"box":{"x":840,"y":630,"width":30,"height":8}},{"id":"3478c2a9-0579-49f3-8741-1f03def09ac0","block_type":"box","text":"(0.70)","page_number":70,"box":{"x":912,"y":630,"width":29,"height":8}},{"id":"ef493f34-ae08-48c4-b069-6686ea982c7c","block_type":"box","text":"Retained distributions on","page_number":70,"box":{"x":522,"y":648,"width":131,"height":6}},{"id":"c31dda82-22a7-4ade-9a54-6f1607cf9a35","block_type":"box","text":"accumulation shares","page_number":70,"box":{"x":521,"y":658,"width":110,"height":6}},{"id":"48f9766a-3279-4fd4-b30a-e2f866d685e5","block_type":"box","text":"0.95","page_number":70,"box":{"x":772,"y":648,"width":22,"height":6}},{"id":"ebf322f0-b1bd-42fd-88fd-fbe5ae4cb7df","block_type":"box","text":"2.33","page_number":70,"box":{"x":843,"y":648,"width":23,"height":6}},{"id":"1edb905c-a561-4120-a187-07682572ae30","block_type":"box","text":"0.70","page_number":70,"box":{"x":915,"y":648,"width":22,"height":6}},{"id":"2cf891f4-3ba5-4df6-a452-5628d28e312f","block_type":"box","text":"Closing net asset value per share","page_number":70,"box":{"x":521,"y":675,"width":192,"height":8}},{"id":"e0ff54f0-8ad2-482f-a362-1fbbef059020","block_type":"box","text":"121.46","page_number":70,"box":{"x":759,"y":675,"width":35,"height":6}},{"id":"d8208089-d578-4918-8df7-10cc6bd1b915","block_type":"box","text":"112.87","page_number":70,"box":{"x":831,"y":675,"width":35,"height":6}},{"id":"1de2b313-2ebd-45d4-809c-ee44c81784c1","block_type":"box","text":"103.13","page_number":70,"box":{"x":903,"y":675,"width":34,"height":6}},{"id":"cb31086b-0de7-47d0-882a-50056dce925b","block_type":"box","text":"* after direct transaction costs of:","page_number":70,"box":{"x":521,"y":693,"width":175,"height":6}},{"id":"07304b03-4815-4e01-821f-bae6ac040de4","block_type":"box","text":"0.02","page_number":70,"box":{"x":772,"y":693,"width":22,"height":6}},{"id":"cd0a5694-f73f-4a3e-a949-d603967184c0","block_type":"box","text":"0.04","page_number":70,"box":{"x":843,"y":693,"width":23,"height":6}},{"id":"7044e0f7-d121-4577-904e-1b8953abc140","block_type":"box","text":"0.02","page_number":70,"box":{"x":915,"y":693,"width":22,"height":6}},{"id":"c6885ec1-f816-4410-bf39-27f0bee3ef69","block_type":"box","text":"Performance","page_number":70,"box":{"x":522,"y":709,"width":73,"height":6}},{"id":"c87681d6-8a40-4f5b-9b28-1344cbe232c8","block_type":"box","text":"Return after charges","page_number":70,"box":{"x":522,"y":718,"width":109,"height":8}},{"id":"a2502b76-05a0-416d-82d0-f1e8f6425131","block_type":"box","text":"7.61%","page_number":70,"box":{"x":763,"y":718,"width":31,"height":7}},{"id":"5c0169c5-74b9-43d8-9093-ae01662f0156","block_type":"box","text":"9.44%","page_number":70,"box":{"x":833,"y":718,"width":32,"height":7}},{"id":"963ec02a-659d-44c2-a04d-e98798e985c4","block_type":"box","text":"3.13%","page_number":70,"box":{"x":906,"y":718,"width":31,"height":7}},{"id":"27a06504-090e-4ad1-8282-ec180f2ff89e","block_type":"box","text":"Other information","page_number":70,"box":{"x":521,"y":736,"width":102,"height":6}},{"id":"6ce8c029-0290-4087-9ada-dcf259437050","block_type":"box","text":"Closing net asset value (£’000)","page_number":70,"box":{"x":522,"y":746,"width":164,"height":7}},{"id":"edf22b16-9f2c-4a49-a10f-a39855d420d3","block_type":"box","text":"3","page_number":70,"box":{"x":789,"y":746,"width":5,"height":6}},{"id":"c3ebf04a-489a-491c-b324-d7edf1452d74","block_type":"box","text":"3","page_number":70,"box":{"x":860,"y":746,"width":6,"height":6}},{"id":"37e1d715-4920-4920-a0f2-8871ba0e3296","block_type":"box","text":"2","page_number":70,"box":{"x":931,"y":746,"width":6,"height":6}},{"id":"39d2a3ac-8afc-4d9c-8f84-1721a770aa2b","block_type":"box","text":"Closing number of shares","page_number":70,"box":{"x":522,"y":756,"width":135,"height":8}},{"id":"35e7c0cd-9b01-4dc3-bb6f-0b43e6ba831c","block_type":"box","text":"2,500","page_number":70,"box":{"x":766,"y":756,"width":28,"height":7}},{"id":"9c828c82-148d-4aa6-9042-bea9712cd335","block_type":"box","text":"2,500","page_number":70,"box":{"x":838,"y":756,"width":28,"height":7}},{"id":"bed2abf8-fc43-42b1-b6e6-f5abdf8b1f02","block_type":"box","text":"2,500","page_number":70,"box":{"x":909,"y":756,"width":28,"height":7}},{"id":"e2241180-77d7-4a15-90a6-f197064a4419","block_type":"box","text":"Operating charges","page_number":70,"box":{"x":521,"y":766,"width":99,"height":8}},{"id":"b2bd5760-7fb8-404e-9fcd-b78ad33961ae","block_type":"box","text":"0.15%","page_number":70,"box":{"x":763,"y":766,"width":31,"height":6}},{"id":"c6224236-a62f-4cf8-a81e-a92081f012cb","block_type":"box","text":"0.15%","page_number":70,"box":{"x":834,"y":766,"width":31,"height":6}},{"id":"00097181-c0f9-474b-9042-feece004ccb1","block_type":"box","text":"0.15%","page_number":70,"box":{"x":906,"y":766,"width":31,"height":6}},{"id":"addcee25-b7a6-4ae2-aded-7556802edbac","block_type":"box","text":"Direct transaction costs","page_number":70,"box":{"x":522,"y":776,"width":125,"height":6}},{"id":"fea7ab10-2eb7-4cca-a30d-6bc3abcb6824","block_type":"box","text":"0.02%","page_number":70,"box":{"x":761,"y":776,"width":33,"height":6}},{"id":"9430bf2e-fcc6-4590-a294-5af8c23dc863","block_type":"box","text":"0.04%","page_number":70,"box":{"x":833,"y":776,"width":32,"height":6}},{"id":"eef26552-4618-4b7d-a1f6-b590579b2119","block_type":"box","text":"0.02%","page_number":70,"box":{"x":904,"y":776,"width":33,"height":6}},{"id":"96c5f010-bd85-44f4-bd55-4a02e1b7f542","block_type":"box","text":"Prices","page_number":70,"box":{"x":522,"y":794,"width":35,"height":6}},{"id":"aa74f2ad-d991-4487-a7e3-66cfad2b575b","block_type":"box","text":"^","page_number":70,"box":{"x":558,"y":794,"width":3,"height":2}},{"id":"6b7934fc-80c3-4d07-93b8-a6aaa0c4f7db","block_type":"box","text":"Highest share price","page_number":70,"box":{"x":522,"y":803,"width":103,"height":8}},{"id":"4ec14e48-ee53-42fd-b10f-06bfc9d47319","block_type":"box","text":"122.00","page_number":70,"box":{"x":759,"y":803,"width":35,"height":7}},{"id":"ed9702df-b22f-4da8-8cb7-0e967f4528d7","block_type":"box","text":"113.50","page_number":70,"box":{"x":832,"y":803,"width":34,"height":7}},{"id":"9a6eebad-6b85-428b-8ee7-469208df9036","block_type":"box","text":"104.40","page_number":70,"box":{"x":902,"y":803,"width":35,"height":7}},{"id":"ad3345ba-795c-4ebe-94d9-0caa844215fc","block_type":"box","text":"Lowest share price","page_number":70,"box":{"x":522,"y":814,"width":100,"height":7}},{"id":"8f182f20-2176-4d33-ad86-b9ea2a0c9c12","block_type":"box","text":"113.40","page_number":70,"box":{"x":760,"y":814,"width":34,"height":6}},{"id":"201ab4bc-b104-43fe-b9b8-4fb16d236152","block_type":"box","text":"97.57","page_number":70,"box":{"x":838,"y":814,"width":28,"height":6}},{"id":"173554c1-a741-44c7-95ba-74f36dbb1864","block_type":"box","text":"100.30","page_number":70,"box":{"x":902,"y":814,"width":35,"height":6}},{"id":"d0687e60-b911-4420-8f3a-c009256bf696","block_type":"box","text":"** Class S Accumulation launched on 25 July 2024.","page_number":70,"box":{"x":521,"y":837,"width":272,"height":8}},{"id":"8b53a1fc-5ac2-4ee9-bb1e-9654b5b898a6","block_type":"box","text":"Comparative Tables","page_number":70,"box":{"x":58,"y":94,"width":236,"height":14}},{"id":"b0541cd8-b675-4464-97ec-88ff104ec242","block_type":"box","text":"Royal London GMAP Moderate Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":70,"box":{"x":460,"y":33,"width":453,"height":8}},{"id":"1fa077b0-8353-4263-bee9-0ababe878080","block_type":"box","text":"70","page_number":70,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"0834b4af-5c16-45fa-a60d-0fd959ca71ec","block_type":"box","text":"Comparative Tables","page_number":71,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"27ea9b0d-d4cc-45e1-9c4c-58079270c946","block_type":"box","text":"(continued)","page_number":71,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"3ef9b563-59b7-4da3-a4bf-8942720258c5","block_type":"box","text":"Class Z Accumulation","page_number":71,"box":{"x":57,"y":151,"width":202,"height":9}},{"id":"20ce1fe8-0110-4985-8b06-81a7bd488fcc","block_type":"box","text":"30/06/26","page_number":71,"box":{"x":283,"y":177,"width":47,"height":6}},{"id":"36d1ef41-f083-4e9b-adaa-ba8d4838555d","block_type":"box","text":"31/12/25","page_number":71,"box":{"x":356,"y":177,"width":46,"height":6}},{"id":"48542c77-6695-4a9c-8953-d4de17090eef","block_type":"box","text":"31/12/24**","page_number":71,"box":{"x":418,"y":177,"width":55,"height":6}},{"id":"f0f4aaee-5fcb-436c-9c4b-fae53709c68e","block_type":"box","text":"Change in net assets per share","page_number":71,"box":{"x":57,"y":186,"width":178,"height":8}},{"id":"a085181a-5fb9-401c-9993-35923b260eb0","block_type":"box","text":"(p)","page_number":71,"box":{"x":316,"y":186,"width":14,"height":8}},{"id":"76006a45-2900-4bb0-9f50-3d5c1440bc90","block_type":"box","text":"(p)","page_number":71,"box":{"x":387,"y":186,"width":14,"height":8}},{"id":"1edfd869-59d1-4493-9d0a-4fc43e0dc255","block_type":"box","text":"(p)","page_number":71,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"cc0e4a42-d269-4ef7-a853-0041a1d54dfc","block_type":"box","text":"Opening net asset value per share","page_number":71,"box":{"x":57,"y":205,"width":183,"height":8}},{"id":"8f6e27f4-1f8a-440e-89ee-78f25e64d3f5","block_type":"box","text":"112.53","page_number":71,"box":{"x":296,"y":205,"width":34,"height":6}},{"id":"9cc41ff0-dfe9-4a32-a589-907079167682","block_type":"box","text":"103.04","page_number":71,"box":{"x":366,"y":205,"width":35,"height":6}},{"id":"0f08f5d1-0c87-42f5-abac-1d319f21ad38","block_type":"box","text":"100.00","page_number":71,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"62a4b5e4-bbd0-4b08-ad35-8a568337e7f2","block_type":"box","text":"Return before operating charges*","page_number":71,"box":{"x":58,"y":222,"width":176,"height":8}},{"id":"c8165d6b-6f93-4f95-b0f3-59fe3969cd7a","block_type":"box","text":"8.65","page_number":71,"box":{"x":307,"y":222,"width":23,"height":6}},{"id":"0bc74f03-d17d-4b92-bce0-1879af9ceacf","block_type":"box","text":"9.92","page_number":71,"box":{"x":379,"y":222,"width":22,"height":6}},{"id":"5dc3130a-8b28-48fc-8769-aa73f193aad0","block_type":"box","text":"3.22","page_number":71,"box":{"x":450,"y":222,"width":23,"height":6}},{"id":"d87b3096-e83d-49aa-b07e-4e1e54691481","block_type":"box","text":"Operating charges","page_number":71,"box":{"x":57,"y":240,"width":99,"height":8}},{"id":"957f8735-84bf-4255-a307-ac3b197a8fb1","block_type":"box","text":"(0.18)","page_number":71,"box":{"x":306,"y":240,"width":28,"height":8}},{"id":"f59107b3-f0fe-44eb-b2db-6a9f098b7b11","block_type":"box","text":"(0.43)","page_number":71,"box":{"x":375,"y":240,"width":30,"height":8}},{"id":"cd90292d-a3f1-46ab-846f-32888739fedc","block_type":"box","text":"(0.18)","page_number":71,"box":{"x":448,"y":240,"width":29,"height":8}},{"id":"bfee10eb-4c0b-4809-a763-d31902c73668","block_type":"box","text":"Return after operating charges*","page_number":71,"box":{"x":58,"y":257,"width":167,"height":8}},{"id":"1ebfc24d-2edb-42d5-8cd0-f444b9db29e3","block_type":"box","text":"8.47","page_number":71,"box":{"x":308,"y":257,"width":22,"height":6}},{"id":"72610503-eb25-4e60-83a0-cc7b200a4995","block_type":"box","text":"9.49","page_number":71,"box":{"x":379,"y":257,"width":22,"height":6}},{"id":"23a4792f-7ece-4f9e-ae08-6edba0ed7d87","block_type":"box","text":"3.04","page_number":71,"box":{"x":450,"y":257,"width":23,"height":6}},{"id":"533b7bd0-eb8c-4bc0-958d-4881ac87ca70","block_type":"box","text":"Distributions on accumulation shares","page_number":71,"box":{"x":58,"y":275,"width":196,"height":6}},{"id":"1b53fa6f-ddb2-476b-b715-b8a8e5b9cd36","block_type":"box","text":"(0.85)","page_number":71,"box":{"x":304,"y":275,"width":30,"height":8}},{"id":"2fa9c6b6-ce67-4b59-b493-e651174b3941","block_type":"box","text":"(2.10)","page_number":71,"box":{"x":377,"y":275,"width":28,"height":8}},{"id":"ddb94843-7c01-46d3-b365-e5903cdd7dd2","block_type":"box","text":"(0.61)","page_number":71,"box":{"x":448,"y":275,"width":29,"height":8}},{"id":"f25c2f9a-8a3f-43a5-bf8d-125896a28dec","block_type":"box","text":"Retained distributions on","page_number":71,"box":{"x":58,"y":292,"width":131,"height":6}},{"id":"8265cebb-70f4-44a3-9000-86b3fd2a02c3","block_type":"box","text":"accumulation shares","page_number":71,"box":{"x":57,"y":302,"width":110,"height":6}},{"id":"d7e47264-caf4-45dd-826c-76ee9c472b62","block_type":"box","text":"0.85","page_number":71,"box":{"x":307,"y":292,"width":23,"height":6}},{"id":"28e3eef7-bce8-4bba-9b14-b182a92ddb22","block_type":"box","text":"2.10","page_number":71,"box":{"x":380,"y":292,"width":21,"height":6}},{"id":"32b2a749-a051-481a-a76e-1e1c94bb10a7","block_type":"box","text":"0.61","page_number":71,"box":{"x":451,"y":292,"width":20,"height":6}},{"id":"bfb6bb7e-bf91-417f-a1d2-9a142e7551c7","block_type":"box","text":"Closing net asset value per share","page_number":71,"box":{"x":57,"y":319,"width":191,"height":8}},{"id":"b96ed436-d569-4fbf-af0a-a33aa9859dee","block_type":"box","text":"121.00","page_number":71,"box":{"x":295,"y":319,"width":35,"height":6}},{"id":"1c65eac9-688e-40c6-bc30-fd0113e64bf1","block_type":"box","text":"112.53","page_number":71,"box":{"x":367,"y":319,"width":34,"height":6}},{"id":"8322a044-9fb8-4887-84a5-5cef46aaa75b","block_type":"box","text":"103.04","page_number":71,"box":{"x":437,"y":319,"width":36,"height":6}},{"id":"cfe1e440-c5a0-428d-b8f5-2c1e1a311559","block_type":"box","text":"* after direct transaction costs of:","page_number":71,"box":{"x":57,"y":337,"width":175,"height":7}},{"id":"16039f35-f6f2-4cf1-94b2-8ab30f9733e8","block_type":"box","text":"0.02","page_number":71,"box":{"x":308,"y":338,"width":22,"height":6}},{"id":"87cfbfec-88ff-4288-a2ad-43be06cc6c07","block_type":"box","text":"0.04","page_number":71,"box":{"x":379,"y":338,"width":22,"height":6}},{"id":"500608c8-2c7f-4f2d-9316-455842fbc319","block_type":"box","text":"0.02","page_number":71,"box":{"x":450,"y":338,"width":23,"height":6}},{"id":"575fbb52-4c78-4707-b694-41010a607f14","block_type":"box","text":"Performance","page_number":71,"box":{"x":58,"y":353,"width":73,"height":6}},{"id":"bc8c89b0-ade4-4a0a-b011-144773289dca","block_type":"box","text":"Return after charges","page_number":71,"box":{"x":58,"y":363,"width":108,"height":7}},{"id":"d2a2dee0-07e7-4a42-a6ce-33fd2d0416d5","block_type":"box","text":"7.53%","page_number":71,"box":{"x":298,"y":363,"width":32,"height":6}},{"id":"fe1c0692-034e-461a-8844-a2f1e30c22b6","block_type":"box","text":"9.21%","page_number":71,"box":{"x":369,"y":363,"width":32,"height":6}},{"id":"95aa0523-e755-4091-9936-e4301be8a8f2","block_type":"box","text":"3.04%","page_number":71,"box":{"x":440,"y":363,"width":33,"height":6}},{"id":"4517166b-daa2-401b-98ea-359c9e7a3ecc","block_type":"box","text":"Other information","page_number":71,"box":{"x":57,"y":381,"width":102,"height":6}},{"id":"9ac0e293-fb81-4c61-acad-8acb493dd81d","block_type":"box","text":"Closing net asset value (£’000)","page_number":71,"box":{"x":57,"y":390,"width":165,"height":8}},{"id":"846b43cc-acd6-47ea-bd89-057603fb5d11","block_type":"box","text":"3,974","page_number":71,"box":{"x":302,"y":390,"width":28,"height":7}},{"id":"7365305f-ed74-4640-9dd9-68d779f9b699","block_type":"box","text":"239","page_number":71,"box":{"x":382,"y":390,"width":19,"height":6}},{"id":"7989f5ed-258c-4fb7-938a-6651aa2c00db","block_type":"box","text":"2","page_number":71,"box":{"x":467,"y":390,"width":6,"height":6}},{"id":"752a848f-c650-44ce-a6e0-77b458279e98","block_type":"box","text":"Closing number of shares","page_number":71,"box":{"x":57,"y":400,"width":136,"height":8}},{"id":"db3a4751-32eb-4081-90c5-0d99bb647bb6","block_type":"box","text":"3,284,299","page_number":71,"box":{"x":276,"y":400,"width":54,"height":7}},{"id":"e2ff8c99-5346-4383-8cf3-d62b87eab001","block_type":"box","text":"212,685","page_number":71,"box":{"x":359,"y":400,"width":42,"height":7}},{"id":"b59b3326-f50d-475a-b446-3f0434459ccc","block_type":"box","text":"2,500","page_number":71,"box":{"x":443,"y":400,"width":30,"height":7}},{"id":"264e8990-d760-4e38-b73b-9fd293e8b7cd","block_type":"box","text":"Operating charges","page_number":71,"box":{"x":57,"y":410,"width":99,"height":8}},{"id":"34fb8453-6c51-473a-8914-d99434788404","block_type":"box","text":"0.30%","page_number":71,"box":{"x":292,"y":410,"width":33,"height":7}},{"id":"ad3b7df0-4e97-4e1e-9114-d57949358e5e","block_type":"box","text":"#","page_number":71,"box":{"x":327,"y":410,"width":3,"height":4}},{"id":"ed56535c-1f3e-4273-870b-2102fb387738","block_type":"box","text":"0.40%","page_number":71,"box":{"x":368,"y":410,"width":33,"height":7}},{"id":"abd567e5-4639-4ed9-894b-ef1133187085","block_type":"box","text":"0.40%","page_number":71,"box":{"x":440,"y":410,"width":33,"height":7}},{"id":"e10ca5b8-68e5-4cb7-9960-b66171007f8f","block_type":"box","text":"Direct transaction costs","page_number":71,"box":{"x":58,"y":420,"width":125,"height":7}},{"id":"80c816c8-d3a3-4ec9-bcf4-8c745d8e9887","block_type":"box","text":"0.02%","page_number":71,"box":{"x":297,"y":420,"width":33,"height":7}},{"id":"a6da06b8-4721-432e-bba1-48947e22e34c","block_type":"box","text":"0.04%","page_number":71,"box":{"x":369,"y":420,"width":32,"height":7}},{"id":"a435d73a-f51b-4c77-ab8a-8153ced7ae36","block_type":"box","text":"0.02%","page_number":71,"box":{"x":440,"y":420,"width":33,"height":7}},{"id":"5df834b3-d4af-4442-9038-13ef5a45cbea","block_type":"box","text":"Prices","page_number":71,"box":{"x":58,"y":438,"width":35,"height":7}},{"id":"bc6e4e61-0fc1-4e62-801a-e97f597d3ee0","block_type":"box","text":"^","page_number":71,"box":{"x":94,"y":438,"width":3,"height":2}},{"id":"39897746-7310-40f1-87cd-6b80c96381d8","block_type":"box","text":"Highest share price","page_number":71,"box":{"x":58,"y":448,"width":102,"height":8}},{"id":"118a8f43-e65c-4b1f-b1bb-672ac5a30dd5","block_type":"box","text":"121.50","page_number":71,"box":{"x":296,"y":448,"width":34,"height":6}},{"id":"636af847-7ae2-4c84-b235-f58520182a44","block_type":"box","text":"113.10","page_number":71,"box":{"x":369,"y":448,"width":32,"height":6}},{"id":"ce40465a-3dc3-4df8-93e0-d1fd0f6be6e8","block_type":"box","text":"104.30","page_number":71,"box":{"x":438,"y":448,"width":35,"height":6}},{"id":"5e90e889-e2d1-44a8-8adf-eec4eb0d5e12","block_type":"box","text":"Lowest share price","page_number":71,"box":{"x":58,"y":458,"width":99,"height":8}},{"id":"1f91da87-8cd8-47d6-a532-61cdc3b79d82","block_type":"box","text":"113.00","page_number":71,"box":{"x":296,"y":458,"width":34,"height":6}},{"id":"a716a112-e001-4818-859e-6afacc59fd39","block_type":"box","text":"97.42","page_number":71,"box":{"x":374,"y":458,"width":27,"height":6}},{"id":"1d4f2d30-42fc-4426-8057-7a09477a99e4","block_type":"box","text":"99.27","page_number":71,"box":{"x":443,"y":458,"width":30,"height":6}},{"id":"1579459b-326d-4d17-8977-5a2d32af3bfc","block_type":"box","text":"** Class Z Accumulation launched on 25 July 2024.","page_number":71,"box":{"x":57,"y":481,"width":271,"height":8}},{"id":"d5c2cd1b-a231-4446-b3ea-2285ce065fd1","block_type":"box","text":"#","page_number":71,"box":{"x":57,"y":495,"width":3,"height":4}},{"id":"d2afc9ad-bf0f-4dc3-bcfc-8411cd6f7659","block_type":"box","text":"The FMF changed from 0.40% to 0.30% on 31 March 2026.","page_number":71,"box":{"x":64,"y":495,"width":316,"height":8}},{"id":"e927517f-c599-4cd6-ad7d-383a3a955458","block_type":"box","text":"^","page_number":71,"box":{"x":57,"y":509,"width":3,"height":2}},{"id":"de2293de-50bc-4eb7-9874-090b5d383f8b","block_type":"box","text":"The high and low prices disclosed are the high and low prices for the accounting","page_number":71,"box":{"x":63,"y":509,"width":414,"height":8}},{"id":"9d8d56b8-b25c-433b-9e7e-da0900784f8d","block_type":"box","text":"period and not the calendar year.","page_number":71,"box":{"x":57,"y":520,"width":175,"height":8}},{"id":"02eae37c-c055-4228-8de9-fafca7c340a4","block_type":"box","text":"The Fund has received a full rebate of synthetic costs to","page_number":71,"box":{"x":57,"y":538,"width":420,"height":10}},{"id":"ebc88a8c-39fa-4f17-bdbc-dd6ea2a41ae1","block_type":"box","text":"maintain the Fund Management Fee at a fixed level.","page_number":71,"box":{"x":58,"y":551,"width":350,"height":10}},{"id":"f71c8734-8968-4288-9223-49224cf84321","block_type":"box","text":"It should be noted that past performance is not a reliable","page_number":71,"box":{"x":58,"y":568,"width":419,"height":10}},{"id":"b2dcf01b-490b-4bef-bde4-5e09e4dc3cd5","block_type":"box","text":"indicator of future performance and that the value of shares,","page_number":71,"box":{"x":58,"y":581,"width":419,"height":10}},{"id":"acd9c870-4ad4-42ce-b774-e2cd5c733d95","block_type":"box","text":"and the income derived from them, can vary.","page_number":71,"box":{"x":57,"y":594,"width":302,"height":10}},{"id":"992c1969-cc20-4e85-9d3f-7016003347b3","block_type":"box","text":"Royal London GMAP Moderate Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":71,"box":{"x":460,"y":33,"width":453,"height":8}},{"id":"b7a1abd5-2f2c-41b6-b523-3ff51e77675d","block_type":"box","text":"71","page_number":71,"box":{"x":930,"y":33,"width":10,"height":6}},{"id":"efd2b689-721d-4c6e-8b36-ed107b7d358e","block_type":"box","text":"Portfolio Statement","page_number":72,"box":{"x":58,"y":94,"width":233,"height":11}},{"id":"216910fb-39c9-4766-a029-4ea867f80c94","block_type":"box","text":"As at 30","page_number":72,"box":{"x":57,"y":113,"width":55,"height":8}},{"id":"9964b5a1-334a-41f0-b88d-b538eaa09cf0","block_type":"box","text":"June 2026","page_number":72,"box":{"x":117,"y":113,"width":70,"height":8}},{"id":"8929d3b1-95a7-4c12-b35f-a463fec6380d","block_type":"box","text":"Bond Collective Investment Schemes – 45.93% (31/12/25 – 46.99%)","page_number":72,"box":{"x":58,"y":201,"width":379,"height":8}},{"id":"59a7e1d2-06cc-400d-9037-82f4de9b8985","block_type":"box","text":"657,087","page_number":72,"box":{"x":79,"y":211,"width":41,"height":7}},{"id":"de2c90d3-27c5-4dfb-a9a8-524e60ccf71d","block_type":"box","text":"Royal London Emerging Markets Corporate","page_number":72,"box":{"x":129,"y":211,"width":225,"height":8}},{"id":"52cb2925-88ef-4075-ad72-729207602422","block_type":"box","text":"Bond Fund R Acc","page_number":72,"box":{"x":129,"y":221,"width":90,"height":6}},{"id":"6a960e8a-18ae-4bbf-8e43-f64e9207d877","block_type":"box","text":"†","page_number":72,"box":{"x":220,"y":220,"width":3,"height":5}},{"id":"7b5a844a-502d-4817-9cdb-d48184387bf2","block_type":"box","text":"840","page_number":72,"box":{"x":380,"y":220,"width":19,"height":7}},{"id":"0cc2ea96-023c-4789-b06f-40025f2f5125","block_type":"box","text":"1.49","page_number":72,"box":{"x":451,"y":220,"width":21,"height":7}},{"id":"d5c9c55a-bc41-40d4-96eb-ac23f31c404d","block_type":"box","text":"1,508,684","page_number":72,"box":{"x":70,"y":230,"width":50,"height":7}},{"id":"1b86295e-c44f-471f-a0ff-4c23326452af","block_type":"box","text":"Royal London Global High Yield Bond Fund","page_number":72,"box":{"x":129,"y":230,"width":225,"height":8}},{"id":"7153ab8f-5832-4d08-a440-01b92f529b44","block_type":"box","text":"R Acc","page_number":72,"box":{"x":129,"y":240,"width":30,"height":6}},{"id":"2d4caf2e-1256-47bc-86a1-ffc076ef8cd1","block_type":"box","text":"†","page_number":72,"box":{"x":159,"y":240,"width":3,"height":4}},{"id":"49ca4d5d-273f-459e-a056-834e22bc0f69","block_type":"box","text":"1,985","page_number":72,"box":{"x":371,"y":240,"width":28,"height":7}},{"id":"83035e76-95e7-493a-972e-34fe3cafe884","block_type":"box","text":"3.51","page_number":72,"box":{"x":450,"y":240,"width":20,"height":6}},{"id":"a28ae1e5-5e8a-4b0f-88db-a3563c406ca9","block_type":"box","text":"1,182,714","page_number":72,"box":{"x":70,"y":249,"width":50,"height":7}},{"id":"bd90dd13-4456-4dd0-ab1b-60cc97515f98","block_type":"box","text":"Royal London Global Senior ABS Fund","page_number":72,"box":{"x":129,"y":249,"width":202,"height":8}},{"id":"5b1c1e55-f3ee-4fab-84cb-85f2fb0ad42b","block_type":"box","text":"R Acc","page_number":72,"box":{"x":129,"y":259,"width":30,"height":6}},{"id":"54aebb8d-d491-4cd2-b31a-10468f4e88b8","block_type":"box","text":"†","page_number":72,"box":{"x":159,"y":259,"width":3,"height":4}},{"id":"18710bf0-7d94-4823-9905-7d47ca6e8b31","block_type":"box","text":"1,260","page_number":72,"box":{"x":371,"y":259,"width":28,"height":7}},{"id":"15c45ca9-ea75-499e-9e7a-8e1068082495","block_type":"box","text":"2.23","page_number":72,"box":{"x":450,"y":259,"width":22,"height":6}},{"id":"8f132d4c-ff3c-4bcb-9d5c-a8fe828899fa","block_type":"box","text":"1,365,324","page_number":72,"box":{"x":70,"y":268,"width":50,"height":7}},{"id":"07fbba89-e62f-4da7-a467-2afb34488778","block_type":"box","text":"Royal London Global Sustainable Credit","page_number":72,"box":{"x":129,"y":268,"width":208,"height":8}},{"id":"d71cca3e-56ec-4127-bd8a-088712bc4323","block_type":"box","text":"Fund R Acc","page_number":72,"box":{"x":129,"y":278,"width":60,"height":6}},{"id":"8897ae68-6f5b-48d1-9e56-12dd0eecc4e8","block_type":"box","text":"†","page_number":72,"box":{"x":189,"y":278,"width":3,"height":4}},{"id":"f403a58e-74e8-44c1-af82-2e75fc76a28c","block_type":"box","text":"1,420","page_number":72,"box":{"x":371,"y":278,"width":28,"height":7}},{"id":"607da687-e1be-4d22-9cb1-79e84d7ab9cc","block_type":"box","text":"2.51","page_number":72,"box":{"x":450,"y":278,"width":20,"height":6}},{"id":"eedce47f-23b1-4777-bf3b-eef80d5ffa37","block_type":"box","text":"3,432,785","page_number":72,"box":{"x":69,"y":287,"width":51,"height":7}},{"id":"39135b89-3559-47b3-ac91-d09730683a40","block_type":"box","text":"Royal London Index Linked Fund R Acc","page_number":72,"box":{"x":129,"y":287,"width":206,"height":8}},{"id":"cd6c7c6a-075d-4f19-88f7-43498368aefa","block_type":"box","text":"†","page_number":72,"box":{"x":335,"y":287,"width":3,"height":4}},{"id":"7aa0996e-8eae-4dbd-8c43-2d351191b4d2","block_type":"box","text":"2,827","page_number":72,"box":{"x":370,"y":287,"width":29,"height":7}},{"id":"c503a32c-9f71-4197-a9b3-3c841409d72e","block_type":"box","text":"5.00","page_number":72,"box":{"x":450,"y":287,"width":22,"height":6}},{"id":"069ee94f-83ff-49a5-9ffe-085817630798","block_type":"box","text":"1,486,385","page_number":72,"box":{"x":70,"y":297,"width":50,"height":7}},{"id":"81499b84-2727-42c6-8b45-a5d332c4094d","block_type":"box","text":"Royal London International Government","page_number":72,"box":{"x":129,"y":296,"width":207,"height":8}},{"id":"d10951d7-dc75-43e2-8a05-29bfd726d295","block_type":"box","text":"Bond Fund R Acc","page_number":72,"box":{"x":129,"y":306,"width":90,"height":6}},{"id":"3fe30baf-06f1-403f-b1c3-522e248cc144","block_type":"box","text":"†","page_number":72,"box":{"x":220,"y":306,"width":3,"height":4}},{"id":"f4e75492-30dd-4b6d-b14f-09a5966a409b","block_type":"box","text":"1,704","page_number":72,"box":{"x":371,"y":306,"width":28,"height":7}},{"id":"1ac1771e-fdec-40de-8c85-9d87edda579f","block_type":"box","text":"3.01","page_number":72,"box":{"x":450,"y":306,"width":20,"height":6}},{"id":"ff4ab37d-c38c-46ca-9f3c-361dcd645ffc","block_type":"box","text":"2,366,357","page_number":72,"box":{"x":69,"y":316,"width":51,"height":7}},{"id":"a92f4d47-0c02-4460-aeff-9b00639b9c67","block_type":"box","text":"Royal London Investment Grade Short","page_number":72,"box":{"x":129,"y":315,"width":200,"height":8}},{"id":"8d042168-1626-4c75-b7e3-b1b6c9181557","block_type":"box","text":"Dated Credit Fund R Acc","page_number":72,"box":{"x":129,"y":325,"width":129,"height":6}},{"id":"9cf639e8-a33b-47da-82b0-3fa2f9a58fa7","block_type":"box","text":"†","page_number":72,"box":{"x":258,"y":325,"width":4,"height":4}},{"id":"1123892f-e9ad-45e4-bcb1-348a6b189636","block_type":"box","text":"2,987","page_number":72,"box":{"x":370,"y":325,"width":29,"height":7}},{"id":"1819c743-efa4-42a1-9357-773cc0d24ab8","block_type":"box","text":"5.29","page_number":72,"box":{"x":450,"y":325,"width":22,"height":6}},{"id":"8286f38e-f390-433d-ac2a-158a3f2a6853","block_type":"box","text":"1,238,019","page_number":72,"box":{"x":70,"y":335,"width":50,"height":7}},{"id":"ee100add-0302-4848-ba27-57f5c2c6925f","block_type":"box","text":"Royal London Short Duration Gilts Fund","page_number":72,"box":{"x":129,"y":334,"width":207,"height":8}},{"id":"254b575e-6efd-4f7e-a296-16022d2fe0cd","block_type":"box","text":"R Acc","page_number":72,"box":{"x":129,"y":344,"width":30,"height":6}},{"id":"3ee66f0c-3926-4d5e-ae4a-ab1db15fbbd0","block_type":"box","text":"†","page_number":72,"box":{"x":159,"y":344,"width":3,"height":4}},{"id":"aece3d7a-b7a0-489c-b2d0-4c59b9d2a25b","block_type":"box","text":"1,410","page_number":72,"box":{"x":371,"y":344,"width":28,"height":7}},{"id":"dee62690-bc3f-4735-97ff-d0f4b6b775cb","block_type":"box","text":"2.49","page_number":72,"box":{"x":450,"y":344,"width":22,"height":6}},{"id":"110b7b01-60d0-4ef7-ae78-3ef965e2d473","block_type":"box","text":"2,142,448","page_number":72,"box":{"x":69,"y":354,"width":51,"height":7}},{"id":"d19e6c2d-ebd3-4f8c-ae0b-b8634f6b0c90","block_type":"box","text":"Royal London Sterling Credit Fund R Acc","page_number":72,"box":{"x":129,"y":353,"width":213,"height":8}},{"id":"4a11da06-2115-4542-920b-e529547a771a","block_type":"box","text":"†","page_number":72,"box":{"x":343,"y":354,"width":3,"height":4}},{"id":"1eadadee-36e5-4380-8729-d22ce2d8fc3c","block_type":"box","text":"2,852","page_number":72,"box":{"x":370,"y":354,"width":29,"height":7}},{"id":"4759862b-2c9c-44a5-a7fc-41debe7a2267","block_type":"box","text":"5.05","page_number":72,"box":{"x":450,"y":354,"width":22,"height":6}},{"id":"71d69edc-3862-4b37-9524-8a21a37a123a","block_type":"box","text":"4,674,429","page_number":72,"box":{"x":69,"y":363,"width":51,"height":7}},{"id":"5e519f4f-652b-44da-9a4e-4bdf2be99fee","block_type":"box","text":"Royal London Sterling Liquidity Money","page_number":72,"box":{"x":129,"y":363,"width":200,"height":8}},{"id":"86d4c475-34da-4149-9277-96baf3abfdfc","block_type":"box","text":"Market Fund R Inc","page_number":72,"box":{"x":129,"y":373,"width":96,"height":6}},{"id":"e2a6985d-88f3-4988-aa88-b6064c9449f9","block_type":"box","text":"†","page_number":72,"box":{"x":225,"y":373,"width":3,"height":4}},{"id":"7b106145-3e93-4205-8e8a-9f8bd1b32213","block_type":"box","text":"4,674","page_number":72,"box":{"x":370,"y":373,"width":29,"height":7}},{"id":"39c5c3b2-b6c2-47bc-bf97-7ba271ade1ab","block_type":"box","text":"8.27","page_number":72,"box":{"x":450,"y":373,"width":22,"height":6}},{"id":"bc4af5a9-fb3e-45b0-9a97-81268f1142d8","block_type":"box","text":"4,148,680","page_number":72,"box":{"x":69,"y":382,"width":51,"height":7}},{"id":"64ccf5d9-a12b-4bf5-a61b-32a2307a35c3","block_type":"box","text":"Royal London UK Government Bond Fund","page_number":72,"box":{"x":129,"y":382,"width":219,"height":8}},{"id":"98b7a354-2ae6-47ca-a60a-0d9fe46e8139","block_type":"box","text":"R Acc","page_number":72,"box":{"x":129,"y":392,"width":30,"height":6}},{"id":"21018c42-f3ae-4d1a-985a-50fa4ac3f5a9","block_type":"box","text":"†","page_number":72,"box":{"x":159,"y":392,"width":3,"height":4}},{"id":"84c8f296-caf3-4b67-8c29-1b271d3909c5","block_type":"box","text":"4,000","page_number":72,"box":{"x":370,"y":392,"width":29,"height":7}},{"id":"b11f3622-31c5-4805-a904-5d04463b1444","block_type":"box","text":"7.08","page_number":72,"box":{"x":450,"y":392,"width":22,"height":6}},{"id":"b0ab4bf9-995c-4bf0-b8d1-2a2ca8a75b42","block_type":"box","text":"Total Bond Collective Investment Schemes","page_number":72,"box":{"x":57,"y":408,"width":239,"height":6}},{"id":"4107d1bf-7d13-419c-84c5-2bfe68dc8677","block_type":"box","text":"25,959","page_number":72,"box":{"x":364,"y":408,"width":35,"height":7}},{"id":"e9df30fd-45e9-45b4-a9fd-cdf3791df577","block_type":"box","text":"45.93","page_number":72,"box":{"x":443,"y":408,"width":29,"height":6}},{"id":"33e05b2a-ae3d-448d-9c68-1fdf9197599b","block_type":"box","text":"Equity Collective Investment Schemes – 47.08% (31/12/25 – 44.29%)","page_number":72,"box":{"x":58,"y":424,"width":385,"height":8}},{"id":"2b9cf61b-e2be-4631-bf8f-c58d6e45289d","block_type":"box","text":"260,595","page_number":72,"box":{"x":79,"y":434,"width":41,"height":7}},{"id":"f28cfec9-be89-4543-b791-eef1d61f019b","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt","page_number":72,"box":{"x":129,"y":433,"width":204,"height":8}},{"id":"0ebc0bca-e699-4b02-8b19-e7314f1d49bb","block_type":"box","text":"Fund R Acc","page_number":72,"box":{"x":129,"y":443,"width":60,"height":6}},{"id":"e4c48be5-8a71-45eb-84e0-3ee02bec6798","block_type":"box","text":"†","page_number":72,"box":{"x":189,"y":443,"width":3,"height":4}},{"id":"e930e4e4-6166-4e02-85de-a819a9a90b42","block_type":"box","text":"778","page_number":72,"box":{"x":380,"y":443,"width":19,"height":6}},{"id":"01d5876d-9986-45f3-b925-46cd4c262ad7","block_type":"box","text":"1.38","page_number":72,"box":{"x":451,"y":443,"width":21,"height":6}},{"id":"45fd4fce-3d59-4a6b-be70-2d39021b14c3","block_type":"box","text":"1,496,731","page_number":72,"box":{"x":70,"y":453,"width":49,"height":7}},{"id":"cb7223d8-5634-41c8-8cbb-3087d2ce93f0","block_type":"box","text":"Royal London Emerging Markets Equity","page_number":72,"box":{"x":129,"y":453,"width":206,"height":7}},{"id":"5874c55b-37a0-41b6-addd-652cf3bb26d6","block_type":"box","text":"Tilt Fund R Acc","page_number":72,"box":{"x":128,"y":462,"width":79,"height":6}},{"id":"8fe5816e-f814-4392-ba14-8f4f96c32971","block_type":"box","text":"†","page_number":72,"box":{"x":208,"y":462,"width":3,"height":4}},{"id":"12661556-b157-472b-962b-d69a3f621221","block_type":"box","text":"3,132","page_number":72,"box":{"x":371,"y":462,"width":28,"height":7}},{"id":"d779bd33-8bb2-450d-b15a-9dc9f6ae6502","block_type":"box","text":"5.54","page_number":72,"box":{"x":450,"y":462,"width":22,"height":6}},{"id":"cee7fc5a-ed6e-4212-9cc9-1c5c417d95fa","block_type":"box","text":"424,315","page_number":72,"box":{"x":79,"y":472,"width":41,"height":7}},{"id":"9f0f8626-4347-4abd-9058-8065401aaf65","block_type":"box","text":"Royal London Europe ex UK Equity Tilt","page_number":72,"box":{"x":129,"y":472,"width":202,"height":7}},{"id":"4ffd5c91-2037-4ccb-95ff-e7d4a27f4187","block_type":"box","text":"Fund R Acc","page_number":72,"box":{"x":129,"y":481,"width":60,"height":6}},{"id":"8dab0628-f479-4193-9a78-ddf1d272cc9a","block_type":"box","text":"†","page_number":72,"box":{"x":189,"y":481,"width":3,"height":4}},{"id":"274ac323-c531-47f5-9671-d4cb313ce530","block_type":"box","text":"955","page_number":72,"box":{"x":380,"y":481,"width":19,"height":6}},{"id":"f5786ace-bc89-45f7-ab28-2d24a054a47c","block_type":"box","text":"1.69","page_number":72,"box":{"x":451,"y":481,"width":21,"height":6}},{"id":"04a6952b-6d60-48de-9e6a-d97ae8d622de","block_type":"box","text":"1,208,567","page_number":72,"box":{"x":70,"y":491,"width":50,"height":7}},{"id":"9a25a56a-1354-45cc-881a-61b9550d1334","block_type":"box","text":"Royal London Global Equity Diversified","page_number":72,"box":{"x":129,"y":490,"width":202,"height":8}},{"id":"4b6f6711-bc33-49e8-91aa-a8797ab1f264","block_type":"box","text":"Fund R Acc","page_number":72,"box":{"x":129,"y":500,"width":60,"height":6}},{"id":"54a3ed30-da20-41d6-85f9-6b6e6384f3ee","block_type":"box","text":"†","page_number":72,"box":{"x":189,"y":500,"width":3,"height":4}},{"id":"e99f6b87-3995-4c50-a7d6-8b5e02ac4c4b","block_type":"box","text":"3,600","page_number":72,"box":{"x":371,"y":500,"width":28,"height":7}},{"id":"f2be6d44-ed4f-4207-8feb-0cbd052c5f4e","block_type":"box","text":"6.37","page_number":72,"box":{"x":450,"y":500,"width":22,"height":6}},{"id":"5c83fde4-be5a-4dc6-9327-386050423289","block_type":"box","text":"2,082,202","page_number":72,"box":{"x":69,"y":510,"width":51,"height":7}},{"id":"cdf4ba83-ac68-44f3-ba45-4bf6f74f3ce6","block_type":"box","text":"Royal London Global Equity Enhanced Fund","page_number":72,"box":{"x":129,"y":509,"width":230,"height":8}},{"id":"aab5fe5c-99eb-4dbc-9a55-9b477b9d62ed","block_type":"box","text":"R Acc","page_number":72,"box":{"x":129,"y":519,"width":30,"height":6}},{"id":"e76645fb-dc49-4cb5-a9fb-8877fe78076d","block_type":"box","text":"†","page_number":72,"box":{"x":159,"y":519,"width":3,"height":4}},{"id":"c3736177-7a96-48f2-acf0-31a0c8183262","block_type":"box","text":"3,639","page_number":72,"box":{"x":371,"y":519,"width":28,"height":7}},{"id":"b90919b1-a798-4d79-aea0-141a4d643bff","block_type":"box","text":"6.44","page_number":72,"box":{"x":450,"y":519,"width":22,"height":6}},{"id":"7875ed51-7953-4279-9afc-594d8b359ba3","block_type":"box","text":"1,088,097","page_number":72,"box":{"x":70,"y":529,"width":50,"height":7}},{"id":"d638f3c8-295b-4959-a779-2746e69fcf99","block_type":"box","text":"Royal London Global Equity Tilt Fund","page_number":72,"box":{"x":129,"y":528,"width":192,"height":8}},{"id":"a72c406c-c22f-46c5-a1bc-154c3baf8379","block_type":"box","text":"R Acc","page_number":72,"box":{"x":129,"y":538,"width":30,"height":6}},{"id":"44b35dc3-48c8-4dbe-96c9-c2872bab3459","block_type":"box","text":"†","page_number":72,"box":{"x":159,"y":538,"width":3,"height":4}},{"id":"7b2d95a7-d178-4a07-a866-57ea9bff8cba","block_type":"box","text":"1,212","page_number":72,"box":{"x":371,"y":538,"width":28,"height":7}},{"id":"a7b75304-d6b3-4ea5-9eba-d229fd1b898b","block_type":"box","text":"2.14","page_number":72,"box":{"x":450,"y":538,"width":22,"height":6}},{"id":"cdd93a28-ee5f-48ed-b5aa-2f72a5a81e0f","block_type":"box","text":"264,073","page_number":72,"box":{"x":79,"y":548,"width":41,"height":7}},{"id":"7fed60f6-23c3-4703-b337-6ee0cbf0325a","block_type":"box","text":"Royal London Japan Equity Tilt Fund","page_number":72,"box":{"x":129,"y":548,"width":190,"height":7}},{"id":"4c988427-98e7-40be-be17-522a8c93f2fa","block_type":"box","text":"R Acc","page_number":72,"box":{"x":129,"y":557,"width":30,"height":6}},{"id":"11a46d5b-5070-4810-85ae-eb95aca99c61","block_type":"box","text":"†","page_number":72,"box":{"x":159,"y":557,"width":3,"height":4}},{"id":"0a039a4e-cac3-4b96-a465-f19c766044c7","block_type":"box","text":"493","page_number":72,"box":{"x":380,"y":557,"width":19,"height":6}},{"id":"de246e6c-60a2-4099-a2be-1c934ac48532","block_type":"box","text":"0.87","page_number":72,"box":{"x":450,"y":557,"width":22,"height":6}},{"id":"c0771368-08b6-410f-aa5c-16ba6e105393","block_type":"box","text":"405,542","page_number":72,"box":{"x":79,"y":567,"width":41,"height":7}},{"id":"ee7e5bf3-dbe9-47c8-a562-71c7fd9d4d0e","block_type":"box","text":"Royal London Property Fund Income","page_number":72,"box":{"x":129,"y":567,"width":191,"height":7}},{"id":"81bfc27f-8e31-40bd-bab6-ebd5a9cdb73b","block_type":"box","text":"†","page_number":72,"box":{"x":321,"y":567,"width":3,"height":4}},{"id":"48c9da82-d249-4d1f-a1be-97c62b2977cc","block_type":"box","text":"1,215","page_number":72,"box":{"x":371,"y":567,"width":28,"height":7}},{"id":"5484f43a-42cd-4c64-8729-d9f4270d0537","block_type":"box","text":"2.15","page_number":72,"box":{"x":450,"y":567,"width":22,"height":6}},{"id":"f718b06d-9d05-43e2-a31b-80169202a3e2","block_type":"box","text":"407,603","page_number":72,"box":{"x":79,"y":576,"width":41,"height":7}},{"id":"15217876-fe76-4d57-a74d-0427521e4135","block_type":"box","text":"Royal London Property Trust A Acc","page_number":72,"box":{"x":129,"y":576,"width":181,"height":8}},{"id":"27e8840d-67f8-4d60-8cbf-bb53cf3e88ef","block_type":"box","text":"†","page_number":72,"box":{"x":310,"y":576,"width":3,"height":4}},{"id":"42c49f87-8162-4701-be6a-378d802fc4ec","block_type":"box","text":"3,592","page_number":72,"box":{"x":371,"y":576,"width":28,"height":7}},{"id":"f60b3e94-2365-414e-bc05-68e2c3bbbbd0","block_type":"box","text":"6.36","page_number":72,"box":{"x":450,"y":576,"width":22,"height":6}},{"id":"772565b2-d830-48e8-b4c3-cb72d387cc44","block_type":"box","text":"3,117,038","page_number":72,"box":{"x":70,"y":586,"width":50,"height":7}},{"id":"5d997b52-26be-4022-b856-d31fb3b65314","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund","page_number":72,"box":{"x":129,"y":586,"width":209,"height":7}},{"id":"a6c471f0-2985-4620-b8ac-fc7ec73c16ce","block_type":"box","text":"R Acc","page_number":72,"box":{"x":129,"y":595,"width":30,"height":6}},{"id":"13019849-0b64-47d1-b4a7-a60c7ec1934a","block_type":"box","text":"†","page_number":72,"box":{"x":159,"y":595,"width":3,"height":4}},{"id":"2946b440-8344-4ac5-b41f-23d08c0168a8","block_type":"box","text":"5,149","page_number":72,"box":{"x":371,"y":595,"width":28,"height":7}},{"id":"09889f54-f9b1-4996-a213-11fb044329d7","block_type":"box","text":"9.11","page_number":72,"box":{"x":451,"y":595,"width":19,"height":6}},{"id":"110c39ac-712b-461f-abb7-ef92f0007ff2","block_type":"box","text":"1,011,894","page_number":72,"box":{"x":71,"y":605,"width":49,"height":7}},{"id":"f4f144fc-7834-43c0-b386-fb30e0e2c4d4","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":72,"box":{"x":129,"y":604,"width":209,"height":8}},{"id":"4cee98e0-5231-411f-853e-ca4be4d207f5","block_type":"box","text":"†","page_number":72,"box":{"x":339,"y":605,"width":3,"height":4}},{"id":"5b0804ac-fe33-4971-9968-efe4b9c8811f","block_type":"box","text":"2,844","page_number":72,"box":{"x":370,"y":605,"width":29,"height":7}},{"id":"5d676a28-133b-48ba-874f-ba8f996838e0","block_type":"box","text":"5.03","page_number":72,"box":{"x":450,"y":605,"width":22,"height":6}},{"id":"ad4f6e1b-1aa6-435f-ba59-1d535cff387e","block_type":"box","text":"Total Equity Collective Investment Schemes","page_number":72,"box":{"x":57,"y":621,"width":245,"height":8}},{"id":"8328ad32-2812-43d6-8af5-de166540e70d","block_type":"box","text":"26,609","page_number":72,"box":{"x":364,"y":621,"width":35,"height":7}},{"id":"9b0c10f7-77be-43ce-8030-bbe988b2c314","block_type":"box","text":"47.08","page_number":72,"box":{"x":443,"y":621,"width":29,"height":6}},{"id":"7ecb9251-4034-41cb-9946-68566dda86d9","block_type":"box","text":"Exchange Traded Commodities – 0.00% (31/12/25 – 2.00%)","page_number":72,"box":{"x":58,"y":646,"width":331,"height":8}},{"id":"0d857d2d-4b76-4b19-ba52-d3537e051e1b","block_type":"box","text":"Exchange Traded Funds – 5.18% (31/12/25 – 5.31%)","page_number":72,"box":{"x":58,"y":665,"width":287,"height":8}},{"id":"460456c0-f34f-4c04-b383-1a87f9cb31f8","block_type":"box","text":"103,019","page_number":72,"box":{"x":80,"y":675,"width":40,"height":7}},{"id":"133005dc-273a-408b-9010-d7f5d8177b09","block_type":"box","text":"Invesco Bloomberg Commodity Carbon","page_number":72,"box":{"x":129,"y":675,"width":203,"height":8}},{"id":"ccc3f2a1-9be5-40cd-a013-dff1a5a3d89c","block_type":"box","text":"Tilted UCITS ETF","page_number":72,"box":{"x":128,"y":684,"width":92,"height":7}},{"id":"50eae34e-fb9d-4269-9530-6f6f2573cfaf","block_type":"box","text":"547","page_number":72,"box":{"x":380,"y":685,"width":19,"height":6}},{"id":"fe2188b5-9c2a-424e-91e6-50f6e89fc22f","block_type":"box","text":"0.97","page_number":72,"box":{"x":450,"y":685,"width":22,"height":6}},{"id":"1551eece-2b3f-4559-b1a2-0e13340a9ee1","block_type":"box","text":"97,374","page_number":72,"box":{"x":85,"y":694,"width":35,"height":7}},{"id":"7b1a118c-637e-4377-a3fb-d245884ffdb0","block_type":"box","text":"iShares Bloomberg Roll Select Commodity","page_number":72,"box":{"x":129,"y":694,"width":221,"height":8}},{"id":"01c75fb6-3efe-4cbe-842e-32d4c28f04e4","block_type":"box","text":"Swap UCITS ETF","page_number":72,"box":{"x":129,"y":703,"width":92,"height":8}},{"id":"b0033afc-97fb-4a8b-af3d-1ecc2645a515","block_type":"box","text":"735","page_number":72,"box":{"x":380,"y":704,"width":19,"height":6}},{"id":"568ec1fe-3262-4ba7-af46-5bbcff703872","block_type":"box","text":"1.30","page_number":72,"box":{"x":451,"y":704,"width":21,"height":6}},{"id":"7ffeea2a-9d27-4e34-a0ea-bcf834fc0282","block_type":"box","text":"992","page_number":72,"box":{"x":102,"y":713,"width":18,"height":6}},{"id":"a1f3de30-aee3-4448-901d-07f145aee70c","block_type":"box","text":"iShares MSCI Canada UCITS ETF","page_number":72,"box":{"x":129,"y":713,"width":180,"height":6}},{"id":"3fe1f25b-1162-4594-8dca-779615a927a9","block_type":"box","text":"223","page_number":72,"box":{"x":380,"y":713,"width":19,"height":6}},{"id":"408d6c6a-1702-4cd9-a874-7c5836bb2238","block_type":"box","text":"0.39","page_number":72,"box":{"x":450,"y":713,"width":22,"height":6}},{"id":"4ce75eb7-81cf-4a04-bb03-f36e33768161","block_type":"box","text":"43,958","page_number":72,"box":{"x":85,"y":723,"width":35,"height":7}},{"id":"61a5ab7d-f42d-4315-98e1-0e594f983f89","block_type":"box","text":"UBS (IRL) Fund Solutions – UCITS ETF","page_number":72,"box":{"x":129,"y":722,"width":208,"height":8}},{"id":"ec024bec-b924-490b-a868-d3196edbb162","block_type":"box","text":"B Acc","page_number":72,"box":{"x":129,"y":732,"width":29,"height":6}},{"id":"bfab9c2d-4161-4608-b766-507b58c66129","block_type":"box","text":"694","page_number":72,"box":{"x":380,"y":732,"width":19,"height":6}},{"id":"0d7b9100-9e38-4b5b-8569-f70ff7e7fd4f","block_type":"box","text":"1.23","page_number":72,"box":{"x":451,"y":732,"width":21,"height":6}},{"id":"c9ee5092-0562-4842-8cdc-4462402af99d","block_type":"box","text":"48,286","page_number":72,"box":{"x":85,"y":742,"width":35,"height":7}},{"id":"8224fec0-f505-40a3-a48a-e306ca662510","block_type":"box","text":"Wisdomtree Enhanced Commodity","page_number":72,"box":{"x":128,"y":741,"width":182,"height":8}},{"id":"7ed82af3-b177-4048-baeb-8fed7f9c458a","block_type":"box","text":"UCITS ETF","page_number":72,"box":{"x":129,"y":751,"width":59,"height":6}},{"id":"7c4aa154-63a3-475d-bc4e-67a8d180d718","block_type":"box","text":"728","page_number":72,"box":{"x":380,"y":751,"width":19,"height":6}},{"id":"7c1dc6a7-4a6a-41fd-b07a-b94a97bf5009","block_type":"box","text":"1.29","page_number":72,"box":{"x":451,"y":751,"width":21,"height":6}},{"id":"58684b0a-0258-4290-a76a-820cb4184ae9","block_type":"box","text":"Total Exchange Traded Funds","page_number":72,"box":{"x":57,"y":767,"width":165,"height":8}},{"id":"d9596480-0211-40d0-b9a7-76f47f074e76","block_type":"box","text":"2,927","page_number":72,"box":{"x":370,"y":767,"width":29,"height":8}},{"id":"816d6041-42ec-4745-82bb-5b30a191b49e","block_type":"box","text":"5.18","page_number":72,"box":{"x":450,"y":767,"width":22,"height":6}},{"id":"789ef950-7069-4096-9216-9e21d00e130a","block_type":"box","text":"Holding","page_number":72,"box":{"x":58,"y":177,"width":43,"height":8}},{"id":"2af8c9cc-e29e-4f18-9f89-2615aae69d0b","block_type":"box","text":"Investment","page_number":72,"box":{"x":129,"y":177,"width":63,"height":6}},{"id":"757179cb-2950-404b-9c3e-2763706a8c18","block_type":"box","text":"Mid-market","page_number":72,"box":{"x":337,"y":158,"width":65,"height":6}},{"id":"34c9abdc-7625-4dfb-9a12-cb69cd43c194","block_type":"box","text":"value","page_number":72,"box":{"x":371,"y":168,"width":30,"height":6}},{"id":"3a54ea3e-f2bb-4a78-936f-46ba27c9aa7a","block_type":"box","text":"(£’000)","page_number":72,"box":{"x":364,"y":177,"width":37,"height":8}},{"id":"c769e27c-5fc5-4a65-8d82-9d1ca5fd8f7e","block_type":"box","text":"Total net","page_number":72,"box":{"x":424,"y":168,"width":49,"height":6}},{"id":"a58f6404-1408-44b7-8cff-ebcd4625702c","block_type":"box","text":"assets (%)","page_number":72,"box":{"x":414,"y":177,"width":59,"height":8}},{"id":"67f62c35-6949-49e6-a666-d65838c13b32","block_type":"box","text":"Holding","page_number":72,"box":{"x":522,"y":177,"width":43,"height":8}},{"id":"a6bbf9df-32cb-470d-8e43-6c9148154cb8","block_type":"box","text":"Investment","page_number":72,"box":{"x":593,"y":177,"width":63,"height":6}},{"id":"4c462c4d-1552-4b0d-9ee5-69ae0a2f1e36","block_type":"box","text":"Mid-market","page_number":72,"box":{"x":802,"y":158,"width":64,"height":6}},{"id":"bf7c6965-12b9-449c-b7eb-2ab3a40b4092","block_type":"box","text":"value","page_number":72,"box":{"x":835,"y":168,"width":31,"height":6}},{"id":"4bd25164-cb95-485a-9bed-782959543702","block_type":"box","text":"(£’000)","page_number":72,"box":{"x":828,"y":177,"width":38,"height":8}},{"id":"492d66e8-ab95-48fe-8313-96582441834b","block_type":"box","text":"Total net","page_number":72,"box":{"x":888,"y":168,"width":49,"height":6}},{"id":"f2da133d-ca30-4858-8bc8-eba8a7bb6cd8","block_type":"box","text":"assets (%)","page_number":72,"box":{"x":879,"y":177,"width":58,"height":8}},{"id":"09303fd4-1c13-47ba-80e8-2c8a3a18a7f8","block_type":"box","text":"Forward Currency Contracts – 0.08% (31/12/25 – (0.06)%)","page_number":72,"box":{"x":522,"y":202,"width":322,"height":8}},{"id":"8eac1621-a2c4-44c6-919b-5166811dfac2","block_type":"box","text":"Buy AUD333,831 & Sell £176,975*","page_number":72,"box":{"x":593,"y":212,"width":180,"height":8}},{"id":"7a0d0482-1492-4024-bdd0-3ef69cd93493","block_type":"box","text":"(3)","page_number":72,"box":{"x":854,"y":212,"width":13,"height":8}},{"id":"a8456cc0-5517-4eff-98b6-ce60f133a9f5","block_type":"box","text":"(0.01)","page_number":72,"box":{"x":911,"y":212,"width":29,"height":8}},{"id":"a0acfea1-19ef-4049-93e0-77ada4de7742","block_type":"box","text":"Buy £309,914 & Sell AUD588,707*","page_number":72,"box":{"x":593,"y":221,"width":180,"height":8}},{"id":"d9cae652-a27d-4f3d-833d-664434c01e24","block_type":"box","text":"3","page_number":72,"box":{"x":858,"y":221,"width":5,"height":7}},{"id":"3e96c7eb-4592-4be2-962e-9b5ad7fc76e3","block_type":"box","text":"0.01","page_number":72,"box":{"x":914,"y":221,"width":20,"height":7}},{"id":"d9f558d1-0192-404a-b998-f639c7b50432","block_type":"box","text":"Buy £409 & Sell CAD767*","page_number":72,"box":{"x":593,"y":231,"width":135,"height":8}},{"id":"3f276820-5818-49e6-a201-16739f6b7f0e","block_type":"box","text":"+","page_number":72,"box":{"x":729,"y":231,"width":3,"height":3}},{"id":"83781024-2ea2-41f2-9ec3-1f760636fc31","block_type":"box","text":"–","page_number":72,"box":{"x":857,"y":234,"width":7,"height":1}},{"id":"d1293fc4-cf0e-4f32-ac56-09a9e73cee38","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":234,"width":7,"height":1}},{"id":"a58e5b96-d2f9-4d9b-adf8-f21699fdc002","block_type":"box","text":"Buy £146,087 & Sell CHF155,340*","page_number":72,"box":{"x":593,"y":240,"width":180,"height":8}},{"id":"adea1bdf-d26f-4add-8e77-a615fd8b9656","block_type":"box","text":"1","page_number":72,"box":{"x":859,"y":240,"width":3,"height":6}},{"id":"ccb19eff-3a60-4082-a9c4-c4b366ddeb00","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":244,"width":7,"height":1}},{"id":"79786fd8-c74b-4f7f-aad4-b24590f6edbe","block_type":"box","text":"Buy £258,208 & Sell €297,756*","page_number":72,"box":{"x":593,"y":250,"width":162,"height":8}},{"id":"4154a515-2beb-4f75-8e9c-243ecc701870","block_type":"box","text":"2","page_number":72,"box":{"x":858,"y":250,"width":5,"height":6}},{"id":"a936b24c-d5d0-467e-8614-9d8fe0585409","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":253,"width":7,"height":1}},{"id":"8f1f529d-6ad1-4be5-87c2-1ac0f41af548","block_type":"box","text":"Buy £227,562 & Sell NOK2,910,932*","page_number":72,"box":{"x":593,"y":259,"width":191,"height":8}},{"id":"7999e308-c52e-4b0f-8e82-1e0dd72ea3dd","block_type":"box","text":"6","page_number":72,"box":{"x":858,"y":259,"width":5,"height":7}},{"id":"a89f6de4-db8a-4f3e-9e58-db74b4b44e2e","block_type":"box","text":"0.01","page_number":72,"box":{"x":914,"y":259,"width":20,"height":7}},{"id":"1dfaea72-7625-4549-9d3a-e74e4d92c00c","block_type":"box","text":"Buy £210,573 & Sell SEK2,651,026*","page_number":72,"box":{"x":593,"y":269,"width":189,"height":8}},{"id":"3a581636-9318-4d79-8a0c-e77245fca6d7","block_type":"box","text":"4","page_number":72,"box":{"x":857,"y":269,"width":6,"height":6}},{"id":"bc659a13-524d-4088-a2e2-85424f488cdf","block_type":"box","text":"0.01","page_number":72,"box":{"x":914,"y":269,"width":20,"height":6}},{"id":"9f865f55-9957-4a05-8165-a070ee4346c7","block_type":"box","text":"Buy £33,613 & Sell $44,477*","page_number":72,"box":{"x":593,"y":278,"width":149,"height":8}},{"id":"36818cc3-70b9-4a4f-ab44-aea33ac18cae","block_type":"box","text":"+","page_number":72,"box":{"x":743,"y":279,"width":3,"height":2}},{"id":"18e48b8d-87dd-4c79-8ade-f45b224a25d0","block_type":"box","text":"–","page_number":72,"box":{"x":857,"y":282,"width":7,"height":1}},{"id":"bd8ba9bd-5737-48a5-9b1b-41d17dcea538","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":282,"width":7,"height":1}},{"id":"f69cf05a-0e50-4f71-8eed-eeb181dc3e0a","block_type":"box","text":"Buy JPY36,423,044 & Sell £169,697*","page_number":72,"box":{"x":593,"y":288,"width":194,"height":8}},{"id":"326eb917-746b-438f-95cf-04962f3849a8","block_type":"box","text":"(1)","page_number":72,"box":{"x":854,"y":288,"width":13,"height":8}},{"id":"70294ccf-a0a6-4d42-b9ec-1d4356b1731a","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":291,"width":7,"height":1}},{"id":"22b6e34e-6059-4562-b69f-48ae79097d58","block_type":"box","text":"Buy SEK1,308,212 & Sell £103,515*","page_number":72,"box":{"x":593,"y":297,"width":189,"height":8}},{"id":"3c75cc8c-6987-45ee-a8d5-aba79679fa2e","block_type":"box","text":"(2)","page_number":72,"box":{"x":854,"y":297,"width":13,"height":8}},{"id":"0c0a289f-46a8-4b2b-83b0-62d25fd8fef9","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":301,"width":7,"height":1}},{"id":"f5a3ade4-dc6e-4907-a39c-3310aea76ab8","block_type":"box","text":"Buy SGD239,481 & Sell £139,519*","page_number":72,"box":{"x":593,"y":307,"width":181,"height":8}},{"id":"13c86c57-9e75-43cd-8bb2-422f53f471bf","block_type":"box","text":"+","page_number":72,"box":{"x":775,"y":308,"width":3,"height":2}},{"id":"d57d1b6b-7494-44bb-b1d6-ae2a02cf12e4","block_type":"box","text":"–","page_number":72,"box":{"x":857,"y":310,"width":7,"height":1}},{"id":"7e48f2f3-5ae7-4728-a048-1e94b344c333","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":310,"width":7,"height":1}},{"id":"8d195597-cfc8-42f7-a7b3-03bc5bfba436","block_type":"box","text":"Buy $4,549,487 & Sell £3,390,652*","page_number":72,"box":{"x":593,"y":316,"width":182,"height":8}},{"id":"fbc4374f-f7f8-4564-9bc8-f04d3623cae7","block_type":"box","text":"37","page_number":72,"box":{"x":851,"y":316,"width":12,"height":7}},{"id":"374deb6b-ecc0-4a55-a62b-c6cefda92212","block_type":"box","text":"0.06","page_number":72,"box":{"x":914,"y":316,"width":22,"height":7}},{"id":"112bff1c-f5b9-4074-9c13-b7748afc6ace","block_type":"box","text":"Total Forward Currency Contracts","page_number":72,"box":{"x":521,"y":333,"width":189,"height":7}},{"id":"a7cce36a-9233-4757-91f9-da0540ea42e9","block_type":"box","text":"47","page_number":72,"box":{"x":851,"y":333,"width":12,"height":6}},{"id":"41a93a3d-3572-4366-b741-e16fb4e4adf1","block_type":"box","text":"0.08","page_number":72,"box":{"x":914,"y":333,"width":22,"height":6}},{"id":"b5b9c60d-30a9-40d7-8e62-df85bda295b4","block_type":"box","text":"Futures – 0.08% (31/12/25 – 0.04%)","page_number":72,"box":{"x":522,"y":349,"width":194,"height":8}},{"id":"d8b4bf00-38c5-4095-b953-10fb3b549e29","block_type":"box","text":"(47)","page_number":72,"box":{"x":565,"y":358,"width":20,"height":8}},{"id":"b8930721-6e3c-4aab-9f4c-97e4ac63c9d1","block_type":"box","text":"CBT Bloomberg Commodity Index September","page_number":72,"box":{"x":593,"y":358,"width":239,"height":8}},{"id":"8fb6eccd-d309-4d81-9040-44dd7afb3e9d","block_type":"box","text":"2026","page_number":72,"box":{"x":593,"y":368,"width":25,"height":6}},{"id":"2d49dc36-241c-4feb-9c7f-eaa5e60734ff","block_type":"box","text":"11","page_number":72,"box":{"x":853,"y":368,"width":9,"height":6}},{"id":"a6bf112d-837a-4e01-851e-7bdb3afe6b3d","block_type":"box","text":"0.02","page_number":72,"box":{"x":914,"y":368,"width":22,"height":6}},{"id":"ccc7ee1c-5a80-4f60-8067-e47fd5ae93db","block_type":"box","text":"(4)","page_number":72,"box":{"x":572,"y":377,"width":13,"height":8}},{"id":"569521ee-f13b-47c9-a5e7-3ac097c04ba9","block_type":"box","text":"CBT US 10 Year Note (CBT) September 2026","page_number":72,"box":{"x":593,"y":377,"width":238,"height":8}},{"id":"31e0d112-5b05-4f4f-9165-2438133a2e74","block_type":"box","text":"(1)","page_number":72,"box":{"x":854,"y":377,"width":13,"height":8}},{"id":"15b3a256-b2a9-44d9-a6e8-2a2603dbe4c6","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":381,"width":7,"height":1}},{"id":"cf326bea-7e92-43b3-8ac3-71845239f954","block_type":"box","text":"(3)","page_number":72,"box":{"x":572,"y":387,"width":13,"height":8}},{"id":"8b16a2bb-a3d4-4270-9169-ca27dee3dea5","block_type":"box","text":"CME S&P500 E-Mini Consumer Services","page_number":72,"box":{"x":593,"y":387,"width":214,"height":6}},{"id":"618ff146-9338-4532-8479-c6b6230b1e71","block_type":"box","text":"September 2026","page_number":72,"box":{"x":593,"y":396,"width":86,"height":8}},{"id":"4d28f961-ce7c-4b4d-abd7-aaa293ab7a58","block_type":"box","text":"(2)","page_number":72,"box":{"x":854,"y":396,"width":13,"height":8}},{"id":"bed45f53-a6fb-44ba-87b1-067ba393230c","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":400,"width":7,"height":1}},{"id":"1251478e-13d5-4252-9673-d531ce3fca36","block_type":"box","text":"91","page_number":72,"box":{"x":573,"y":406,"width":10,"height":6}},{"id":"e1fc092c-3f8d-4843-8443-320a219e999e","block_type":"box","text":"CME S&P500 E-Mini Future September 2026","page_number":72,"box":{"x":593,"y":406,"width":235,"height":8}},{"id":"2ea840e4-b361-4bf2-bb0d-4e5ea8449194","block_type":"box","text":"17","page_number":72,"box":{"x":852,"y":406,"width":11,"height":6}},{"id":"337b5f31-07b8-4324-9499-80d0eaf2e3a6","block_type":"box","text":"0.03","page_number":72,"box":{"x":914,"y":406,"width":22,"height":6}},{"id":"67378444-4bb4-4972-a623-78215b1e3b87","block_type":"box","text":"(1)","page_number":72,"box":{"x":572,"y":415,"width":13,"height":8}},{"id":"5b636786-7058-478b-b089-2d0cb51505f7","block_type":"box","text":"CME XAB Materials September 2026","page_number":72,"box":{"x":593,"y":415,"width":193,"height":8}},{"id":"7a8cde4e-8407-4bf0-9edf-403424a87796","block_type":"box","text":"+","page_number":72,"box":{"x":787,"y":416,"width":3,"height":2}},{"id":"4c231993-52f2-41e9-ab14-0ece88fccd26","block_type":"box","text":"–","page_number":72,"box":{"x":857,"y":419,"width":7,"height":1}},{"id":"eab839b0-d208-443f-9cee-9ea19a60e5f7","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":419,"width":7,"height":1}},{"id":"b3dc3368-1f92-4a00-afea-e16e3667baca","block_type":"box","text":"(4)","page_number":72,"box":{"x":572,"y":425,"width":13,"height":8}},{"id":"6253e4f5-33e1-4faa-964b-717354b8e895","block_type":"box","text":"CME XAE Consumer Energy September 2026","page_number":72,"box":{"x":593,"y":425,"width":240,"height":8}},{"id":"030caffe-6b71-462e-a9cb-c0651f4251f0","block_type":"box","text":"8","page_number":72,"box":{"x":858,"y":425,"width":5,"height":6}},{"id":"ce5ea197-be25-4264-a659-de3e01de015e","block_type":"box","text":"0.01","page_number":72,"box":{"x":914,"y":425,"width":21,"height":6}},{"id":"8410b60d-d47e-43d4-8c51-38968142ec21","block_type":"box","text":"1","page_number":72,"box":{"x":580,"y":434,"width":3,"height":6}},{"id":"2d645898-3571-4100-a22e-105fb78bbf81","block_type":"box","text":"CME XAF Financial September 2026","page_number":72,"box":{"x":593,"y":434,"width":192,"height":8}},{"id":"d296230e-eeb4-4ccc-a758-219bc3d3553b","block_type":"box","text":"+","page_number":72,"box":{"x":786,"y":435,"width":3,"height":2}},{"id":"97212e09-0a85-404b-b84d-57444f84881c","block_type":"box","text":"–","page_number":72,"box":{"x":857,"y":438,"width":7,"height":1}},{"id":"427adbc2-efbe-493c-8473-21fbd3ac1fb4","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":438,"width":7,"height":1}},{"id":"bd9ece09-b4f5-4fea-a6ac-e7b8cdcaae87","block_type":"box","text":"2","page_number":72,"box":{"x":579,"y":444,"width":6,"height":6}},{"id":"fb416e4c-0a85-4079-9e33-0a3310c93588","block_type":"box","text":"CME XAK Technology September 2026","page_number":72,"box":{"x":593,"y":444,"width":204,"height":8}},{"id":"0bf7d3f0-f31b-4878-b626-63f1fa2ef9d1","block_type":"box","text":"(4)","page_number":72,"box":{"x":854,"y":444,"width":13,"height":8}},{"id":"7078dadf-76ae-48b6-ab89-1a02a2e38140","block_type":"box","text":"(0.01)","page_number":72,"box":{"x":911,"y":444,"width":29,"height":8}},{"id":"f774a476-35f6-4c5f-9202-886d9095619c","block_type":"box","text":"1","page_number":72,"box":{"x":580,"y":453,"width":3,"height":6}},{"id":"c3e02e81-1d48-4675-b78b-5d014e6b4312","block_type":"box","text":"CME XAP Consumer Staples September 2026","page_number":72,"box":{"x":593,"y":453,"width":242,"height":8}},{"id":"93cd45f5-2ac6-4b41-8832-45e713ffc14a","block_type":"box","text":"(1)","page_number":72,"box":{"x":854,"y":453,"width":13,"height":8}},{"id":"8e85121b-bb78-4c11-9558-bacaf81d69f1","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":457,"width":7,"height":1}},{"id":"00107121-f7a1-4449-a51f-a20e400bf0b5","block_type":"box","text":"7","page_number":72,"box":{"x":579,"y":463,"width":6,"height":6}},{"id":"7ca27b31-70fe-46e6-bca7-de4291de6662","block_type":"box","text":"CME XAU Utilities September 2026","page_number":72,"box":{"x":593,"y":463,"width":184,"height":8}},{"id":"e84e3902-92b4-4e96-9ffd-97585fd775b6","block_type":"box","text":"(11)","page_number":72,"box":{"x":848,"y":463,"width":19,"height":8}},{"id":"03711a7d-4339-4206-97b1-728f09e66149","block_type":"box","text":"(0.02)","page_number":72,"box":{"x":911,"y":463,"width":29,"height":8}},{"id":"19507a75-2652-4441-843a-ea63d0e8ef93","block_type":"box","text":"2","page_number":72,"box":{"x":579,"y":472,"width":6,"height":6}},{"id":"57d433b7-c438-4e6f-8a02-00c6d1c93207","block_type":"box","text":"CME XAV Health Care September 2026","page_number":72,"box":{"x":593,"y":472,"width":207,"height":8}},{"id":"ad6232d3-1e80-4f41-9c58-50d761b3c2ef","block_type":"box","text":"9","page_number":72,"box":{"x":858,"y":472,"width":5,"height":7}},{"id":"d3714c93-4cc9-48ca-abb1-cbebbc89d3e3","block_type":"box","text":"0.02","page_number":72,"box":{"x":914,"y":472,"width":22,"height":7}},{"id":"45b75ebe-fbde-4234-9e34-93965d02b43e","block_type":"box","text":"(3)","page_number":72,"box":{"x":572,"y":482,"width":13,"height":8}},{"id":"6602e220-d190-4077-a80b-991e03ac091f","block_type":"box","text":"CME XAY Consumer Discretionary Future","page_number":72,"box":{"x":593,"y":482,"width":217,"height":8}},{"id":"f5789358-2dfe-484b-9a10-0135c3d221f9","block_type":"box","text":"September 2026","page_number":72,"box":{"x":593,"y":491,"width":86,"height":8}},{"id":"ddaa5911-9d91-4517-8c51-5d4d9d52b021","block_type":"box","text":"(7)","page_number":72,"box":{"x":854,"y":491,"width":13,"height":8}},{"id":"efd6f1e6-ce30-4be8-b022-992285abbf7c","block_type":"box","text":"(0.01)","page_number":72,"box":{"x":911,"y":491,"width":29,"height":8}},{"id":"5bd053cb-a0e0-4b34-b9ea-95f7c9187727","block_type":"box","text":"(4)","page_number":72,"box":{"x":572,"y":501,"width":13,"height":8}},{"id":"fba867fa-8408-4a2e-8a4b-6945c7fccbc9","block_type":"box","text":"EUX Euro-Bund Future September 2026","page_number":72,"box":{"x":593,"y":501,"width":210,"height":8}},{"id":"b59a9172-9997-454d-859e-bd0f618fc911","block_type":"box","text":"(5)","page_number":72,"box":{"x":854,"y":501,"width":13,"height":8}},{"id":"722aaaa8-b375-41c2-ba3a-3d0b8836ea05","block_type":"box","text":"(0.01)","page_number":72,"box":{"x":911,"y":501,"width":29,"height":8}},{"id":"59ddf6f3-a8a5-4664-8371-d95c007b5d00","block_type":"box","text":"16","page_number":72,"box":{"x":573,"y":510,"width":12,"height":7}},{"id":"b0c029e6-c3c3-4fa9-a160-16766a3cf5b4","block_type":"box","text":"EUX Euro Stoxx 50 Future September 2026","page_number":72,"box":{"x":593,"y":510,"width":228,"height":8}},{"id":"73171ecf-99f5-4081-a0f5-b549fd929d91","block_type":"box","text":"12","page_number":72,"box":{"x":852,"y":510,"width":11,"height":6}},{"id":"5ee1b692-f12c-4d22-b6a0-dca10b68a618","block_type":"box","text":"0.02","page_number":72,"box":{"x":914,"y":510,"width":22,"height":7}},{"id":"edddf4a4-3402-49b7-a17c-54fdf2d522b5","block_type":"box","text":"(17)","page_number":72,"box":{"x":565,"y":520,"width":20,"height":8}},{"id":"8aa04fde-8ebb-454f-8c84-384f908222bc","block_type":"box","text":"HKG Hang Seng Index Future July 2026","page_number":72,"box":{"x":593,"y":520,"width":209,"height":8}},{"id":"499c1869-5c0b-4363-b7ac-c7709e21dc49","block_type":"box","text":"8","page_number":72,"box":{"x":858,"y":520,"width":5,"height":6}},{"id":"9a22c4da-235e-4016-aae1-786624de9ad2","block_type":"box","text":"0.01","page_number":72,"box":{"x":914,"y":520,"width":21,"height":6}},{"id":"8e9461fe-7099-4af1-8eb9-94cd63db1bd8","block_type":"box","text":"4","page_number":72,"box":{"x":579,"y":530,"width":6,"height":5}},{"id":"e702335c-3912-4d4e-8738-512b9da88735","block_type":"box","text":"ICF FTSE 100 Index Future September 2026","page_number":72,"box":{"x":593,"y":529,"width":233,"height":8}},{"id":"2e5fbd44-e1d6-4bbf-af5f-1f42440a9fa6","block_type":"box","text":"(3)","page_number":72,"box":{"x":854,"y":529,"width":13,"height":8}},{"id":"4e2a910b-f681-4e35-b711-30151961284c","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":533,"width":7,"height":1}},{"id":"965ed220-fa40-4f64-84c2-e0161645360e","block_type":"box","text":"(4)","page_number":72,"box":{"x":572,"y":539,"width":13,"height":8}},{"id":"3498bd4e-19ef-4368-9461-ae65aec18a3f","block_type":"box","text":"ICF Long Gilt Future September 2026","page_number":72,"box":{"x":593,"y":539,"width":196,"height":8}},{"id":"8b4b09eb-5ed4-48df-99ac-f3e04b289143","block_type":"box","text":"(3)","page_number":72,"box":{"x":854,"y":539,"width":13,"height":8}},{"id":"ec7596c4-fe30-40bc-b6c3-41057d2befb1","block_type":"box","text":"–","page_number":72,"box":{"x":930,"y":543,"width":7,"height":0}},{"id":"920f2e91-0742-4bda-8b22-56cecd8e7e1d","block_type":"box","text":"18","page_number":72,"box":{"x":573,"y":548,"width":12,"height":7}},{"id":"94e08826-810d-4945-aa82-83df487baab1","block_type":"box","text":"NYF MSCI Emerging Market September 2026","page_number":72,"box":{"x":593,"y":548,"width":238,"height":8}},{"id":"4059589d-9ae9-413e-817c-5760a8266683","block_type":"box","text":"(23)","page_number":72,"box":{"x":848,"y":548,"width":19,"height":8}},{"id":"2a40263c-c3b6-4781-8ef5-95b54ac1af6e","block_type":"box","text":"(0.04)","page_number":72,"box":{"x":911,"y":548,"width":29,"height":8}},{"id":"7ce3c9b6-287b-4372-b4b3-d84ffb481970","block_type":"box","text":"32","page_number":72,"box":{"x":573,"y":558,"width":12,"height":6}},{"id":"17717418-029b-4c51-97b4-14b6e76a6913","block_type":"box","text":"OSE Mini Topix Index Future September","page_number":72,"box":{"x":593,"y":558,"width":210,"height":8}},{"id":"7fc3eb5c-714f-4e1a-91fe-01e185962e9a","block_type":"box","text":"2026","page_number":72,"box":{"x":593,"y":567,"width":25,"height":7}},{"id":"5159b272-2410-4f3c-9ee2-c0a1ba8a8a6a","block_type":"box","text":"6","page_number":72,"box":{"x":858,"y":567,"width":5,"height":7}},{"id":"c74a7686-3000-4092-9a1f-1612f362c748","block_type":"box","text":"0.01","page_number":72,"box":{"x":914,"y":567,"width":20,"height":7}},{"id":"67928a37-2137-4372-af12-b35b403e5caf","block_type":"box","text":"18","page_number":72,"box":{"x":573,"y":577,"width":12,"height":6}},{"id":"69ef5d61-6fa5-47a9-9a57-b63a1c0aa0d4","block_type":"box","text":"OSE Nikkei 225 Mini September 2026","page_number":72,"box":{"x":593,"y":577,"width":197,"height":8}},{"id":"43e17cc4-ca9b-4c9c-ab9d-acbb9e97d19e","block_type":"box","text":"19","page_number":72,"box":{"x":852,"y":577,"width":11,"height":6}},{"id":"5269a7ac-d4fa-494f-9adc-b5d391915a71","block_type":"box","text":"0.03","page_number":72,"box":{"x":914,"y":577,"width":22,"height":6}},{"id":"b79b262c-c2ff-4e56-978f-686f73e7b588","block_type":"box","text":"(8)","page_number":72,"box":{"x":572,"y":586,"width":13,"height":8}},{"id":"0dde2e41-4032-465e-ad70-851ba22d1cbf","block_type":"box","text":"SFE SPI 200 Future September 2026","page_number":72,"box":{"x":593,"y":586,"width":194,"height":8}},{"id":"cecb53a4-e596-4fc9-9dc7-382c3e8186c0","block_type":"box","text":"12","page_number":72,"box":{"x":852,"y":586,"width":11,"height":6}},{"id":"06916cc0-19e1-480a-9c42-4495fa63f9cf","block_type":"box","text":"0.02","page_number":72,"box":{"x":914,"y":586,"width":22,"height":7}},{"id":"7ce4b357-303a-41fc-8607-29bc63656a86","block_type":"box","text":"Total Futures","page_number":72,"box":{"x":521,"y":603,"width":73,"height":6}},{"id":"d6be2960-7b7a-42cc-abd6-43dd0c4a2a70","block_type":"box","text":"42","page_number":72,"box":{"x":851,"y":603,"width":12,"height":6}},{"id":"053fd011-0a0c-4539-a0ba-257fcf048af9","block_type":"box","text":"0.08","page_number":72,"box":{"x":914,"y":603,"width":22,"height":6}},{"id":"99e9b686-3c42-4615-ad1d-01ccc36d3d00","block_type":"box","text":"Total value of investments","page_number":72,"box":{"x":521,"y":645,"width":146,"height":6}},{"id":"eae60e35-f7f7-4f51-a039-b98b1c5b75b0","block_type":"box","text":"^","page_number":72,"box":{"x":668,"y":645,"width":3,"height":2}},{"id":"c50f65fc-deb6-496e-ba4e-85e08b88b72e","block_type":"box","text":"55,584","page_number":72,"box":{"x":828,"y":645,"width":36,"height":7}},{"id":"57e268c3-f20b-4125-b32a-7b547b819f60","block_type":"box","text":"98.35","page_number":72,"box":{"x":908,"y":645,"width":28,"height":6}},{"id":"ebab71e1-a6c0-4847-bbd3-eb67a8f33f80","block_type":"box","text":"Net other assets","page_number":72,"box":{"x":522,"y":661,"width":90,"height":6}},{"id":"ff1b9e96-ef3b-48fe-bfc2-209f3505b782","block_type":"box","text":"935","page_number":72,"box":{"x":845,"y":661,"width":18,"height":6}},{"id":"1e970bb5-c264-4759-a3de-5ae465b86815","block_type":"box","text":"1.65","page_number":72,"box":{"x":915,"y":661,"width":21,"height":6}},{"id":"4a0a5cdb-b75b-4345-b229-e08e113b3fa6","block_type":"box","text":"Total net assets","page_number":72,"box":{"x":521,"y":677,"width":87,"height":6}},{"id":"1bca3e0e-d006-4131-b282-961748ff7fe8","block_type":"box","text":"56,519","page_number":72,"box":{"x":828,"y":677,"width":35,"height":7}},{"id":"0816d312-48fb-4a56-ac8f-109d12f7880d","block_type":"box","text":"100.00","page_number":72,"box":{"x":902,"y":677,"width":34,"height":6}},{"id":"ff8e5558-186b-4854-9354-2d4a2b258b8b","block_type":"box","text":"†","page_number":72,"box":{"x":521,"y":695,"width":4,"height":4}},{"id":"4428c424-6127-4455-80d4-39275991d600","block_type":"box","text":"Related Party","page_number":72,"box":{"x":529,"y":695,"width":72,"height":7}},{"id":"c5751e84-13d5-4fbc-8eef-f2ee0d1c5245","block_type":"box","text":"* Unlisted","page_number":72,"box":{"x":521,"y":709,"width":51,"height":6}},{"id":"bf7761ea-4587-4a38-be78-82450f89fa47","block_type":"box","text":"+","page_number":72,"box":{"x":521,"y":723,"width":4,"height":3}},{"id":"925b0f6f-e3cd-41ad-802b-ed649902811c","block_type":"box","text":"Value less than £1,000","page_number":72,"box":{"x":528,"y":723,"width":122,"height":7}},{"id":"7a6e6080-11a6-421e-b0c2-712d5a3ddb0d","block_type":"box","text":"^","page_number":72,"box":{"x":521,"y":737,"width":3,"height":2}},{"id":"d7dbc4c5-c93e-4d4a-b0a7-9e7bdefc1859","block_type":"box","text":"Including investment liabilities","page_number":72,"box":{"x":529,"y":737,"width":157,"height":7}},{"id":"61582c98-ba62-4be0-adbb-ac4a760b6f12","block_type":"box","text":"All investments, except collective investment schemes and forward currency","page_number":72,"box":{"x":521,"y":751,"width":421,"height":8}},{"id":"05d2284d-103a-4a48-b5ea-62e27c462e94","block_type":"box","text":"contracts, are listed on recognised stock exchanges and are “approved","page_number":72,"box":{"x":521,"y":761,"width":420,"height":8}},{"id":"b544e6b5-d9ab-4712-bb7e-5741343c0fa7","block_type":"box","text":"securities” within the meaning of the FCA rules unless otherwise stated.","page_number":72,"box":{"x":521,"y":772,"width":381,"height":8}},{"id":"81861547-3ec2-4bdb-a88a-efb75dc84c15","block_type":"box","text":"Royal London GMAP Moderate Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":72,"box":{"x":460,"y":33,"width":453,"height":8}},{"id":"cb8c85cd-b50e-4d84-932c-c4cec83727c0","block_type":"box","text":"72","page_number":72,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"c0a98493-3002-44cc-8d55-96760fbf2569","block_type":"box","text":"Summary of Material Portfolio Changes","page_number":73,"box":{"x":57,"y":94,"width":470,"height":14}},{"id":"30e36fcd-d925-4fc3-996a-fbf5d30a748a","block_type":"box","text":"For the six month period ended 30","page_number":73,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"72484835-35c6-483f-be5f-f35899448649","block_type":"box","text":"June 2026","page_number":73,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"a64c2523-2e1b-4ea0-9c0b-22559b62ba94","block_type":"box","text":"Significant Purchases","page_number":73,"box":{"x":57,"y":151,"width":203,"height":11}},{"id":"63cbc64f-7090-4f3d-9b5e-24c7da4c8425","block_type":"box","text":"Cost","page_number":73,"box":{"x":447,"y":177,"width":26,"height":6}},{"id":"f37fd4ef-3ffb-4771-b595-4e22ac7729e2","block_type":"box","text":"£’000","page_number":73,"box":{"x":443,"y":186,"width":30,"height":6}},{"id":"74a740ee-c77a-437a-a1a0-ced45290c0e3","block_type":"box","text":"Invesco Physical Gold ETC","page_number":73,"box":{"x":58,"y":205,"width":144,"height":7}},{"id":"7e8690ed-072d-4671-8cb7-c5bd749c8b33","block_type":"box","text":"1,506","page_number":73,"box":{"x":444,"y":205,"width":29,"height":7}},{"id":"87e6cd7f-69e1-46ac-9c46-9bfdfdf9e43d","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":73,"box":{"x":58,"y":222,"width":214,"height":8}},{"id":"42209e88-09a5-4f93-bcb8-98a86008e975","block_type":"box","text":"1,469","page_number":73,"box":{"x":445,"y":222,"width":28,"height":7}},{"id":"ae81834b-44dc-4b2f-af6a-f2fad98884ea","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":73,"box":{"x":58,"y":240,"width":295,"height":7}},{"id":"eb6a2e6c-af61-41c0-a231-91acc4444813","block_type":"box","text":"892","page_number":73,"box":{"x":454,"y":240,"width":19,"height":6}},{"id":"56b15da6-631f-45d0-8ece-1c47a32f9f7b","block_type":"box","text":"Royal London International Government Bond Fund R Acc","page_number":73,"box":{"x":58,"y":257,"width":309,"height":8}},{"id":"a70cb6ea-b887-4df8-9081-a0205ea71791","block_type":"box","text":"882","page_number":73,"box":{"x":454,"y":257,"width":19,"height":6}},{"id":"7627271d-515f-49df-b2ff-d0b8f7d85ac9","block_type":"box","text":"Wisdomtree Enhanced C ETF","page_number":73,"box":{"x":57,"y":275,"width":159,"height":6}},{"id":"2dc0b124-b204-4b17-99fd-68b8aeafc41b","block_type":"box","text":"758","page_number":73,"box":{"x":454,"y":275,"width":19,"height":6}},{"id":"878b653a-39e8-4494-ad91-0626bd8a2412","block_type":"box","text":"iShares Physical Gold ETC","page_number":73,"box":{"x":57,"y":292,"width":144,"height":8}},{"id":"51c0faff-f31b-4a11-9ecd-a7b7425bfe5f","block_type":"box","text":"756","page_number":73,"box":{"x":454,"y":292,"width":19,"height":6}},{"id":"0a322bac-d704-45f4-8718-e101660c93ca","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":73,"box":{"x":58,"y":310,"width":249,"height":7}},{"id":"317a8d50-b1b8-4338-8987-ac098e2bd840","block_type":"box","text":"736","page_number":73,"box":{"x":454,"y":310,"width":19,"height":6}},{"id":"8ceb2d78-950e-4842-b137-64c18c1970ee","block_type":"box","text":"Royal London UK Government Bond Fund R Acc","page_number":73,"box":{"x":58,"y":327,"width":259,"height":8}},{"id":"478e1c49-6f20-400d-a6a6-cea4d21e38cc","block_type":"box","text":"590","page_number":73,"box":{"x":453,"y":327,"width":20,"height":6}},{"id":"5c4f649e-2592-4829-a58e-9901983b6563","block_type":"box","text":"Royal London Global Senior ABS Fund R Acc","page_number":73,"box":{"x":58,"y":345,"width":242,"height":7}},{"id":"3a1de078-e031-46e7-a216-395a9f4fad3f","block_type":"box","text":"515","page_number":73,"box":{"x":455,"y":345,"width":18,"height":6}},{"id":"baed4380-3528-44c1-b249-f982cfe9d567","block_type":"box","text":"Royal London Property Trust A Acc","page_number":73,"box":{"x":58,"y":362,"width":187,"height":8}},{"id":"795a7f06-c5f3-42fe-bc5f-92ee695a7047","block_type":"box","text":"442","page_number":73,"box":{"x":453,"y":362,"width":20,"height":6}},{"id":"9812c708-a392-4823-a737-1375e6a91753","block_type":"box","text":"Subtotal","page_number":73,"box":{"x":57,"y":380,"width":48,"height":6}},{"id":"9c1b5ec5-ee87-4b73-97c7-4c64b76b8044","block_type":"box","text":"8,546","page_number":73,"box":{"x":443,"y":380,"width":30,"height":7}},{"id":"7a9f76a4-bd67-4d2a-bdc6-4e7c1c91db9b","block_type":"box","text":"Total cost of purchases, including the above, for the period","page_number":73,"box":{"x":57,"y":397,"width":339,"height":8}},{"id":"57f4a497-935e-4ad2-937d-6c37e508a776","block_type":"box","text":"11,986","page_number":73,"box":{"x":438,"y":397,"width":35,"height":8}},{"id":"2ccc6f39-13ae-45a3-b672-6afaf6e86407","block_type":"box","text":"Significant Sales","page_number":73,"box":{"x":522,"y":151,"width":156,"height":11}},{"id":"4aee1744-5bfe-43ff-8532-53e70ff244a5","block_type":"box","text":"Proceeds","page_number":73,"box":{"x":884,"y":177,"width":53,"height":6}},{"id":"6c8561c0-7f22-45c6-9862-d96ce05e8ebb","block_type":"box","text":"£’000","page_number":73,"box":{"x":907,"y":186,"width":30,"height":6}},{"id":"dc028516-ace1-4a4c-8740-b01659f73b3a","block_type":"box","text":"Invesco Physical Gold ETC","page_number":73,"box":{"x":522,"y":205,"width":144,"height":7}},{"id":"26dcffa3-d198-49cc-bd3a-318ec2f3b427","block_type":"box","text":"2,046","page_number":73,"box":{"x":907,"y":205,"width":30,"height":7}},{"id":"73c2bf11-678c-4ba3-b1f3-34728a62fa58","block_type":"box","text":"Royal London Short-Term Money Market Fund R Acc","page_number":73,"box":{"x":522,"y":222,"width":281,"height":8}},{"id":"1c804c76-325a-45e7-a170-1d39296c887b","block_type":"box","text":"1,543","page_number":73,"box":{"x":909,"y":222,"width":28,"height":7}},{"id":"6af3bbd4-957e-4174-99b1-22e88777dffe","block_type":"box","text":"Royal London Global High Yield Bond Fund R Acc","page_number":73,"box":{"x":522,"y":240,"width":266,"height":7}},{"id":"1d0e6e20-56a8-43d3-b035-13f643564b90","block_type":"box","text":"1,401","page_number":73,"box":{"x":909,"y":240,"width":26,"height":7}},{"id":"5c68a215-38a2-4dab-bfe5-e32df32370ae","block_type":"box","text":"iShares Physical Gold ETC","page_number":73,"box":{"x":522,"y":257,"width":144,"height":8}},{"id":"3a4259e1-4d0d-4f52-8052-8d40c43df752","block_type":"box","text":"1,322","page_number":73,"box":{"x":909,"y":257,"width":28,"height":7}},{"id":"44a5047f-8da2-4bc0-a8db-1f23e6cf0ba8","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":73,"box":{"x":522,"y":275,"width":250,"height":7}},{"id":"b73f4c18-ae4e-4c96-b3e0-3ffed4a770d0","block_type":"box","text":"908","page_number":73,"box":{"x":918,"y":275,"width":19,"height":6}},{"id":"95806682-e7a8-48e9-8a6a-27ec693d1812","block_type":"box","text":"iShares Bloomberg Roll Select Commodity Swap UCITS ETF","page_number":73,"box":{"x":522,"y":292,"width":325,"height":8}},{"id":"99e6bc4a-8ff3-47fd-88b3-5f8c70576e92","block_type":"box","text":"871","page_number":73,"box":{"x":919,"y":292,"width":16,"height":6}},{"id":"f271160c-6735-409f-b944-2da120918d55","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":73,"box":{"x":522,"y":310,"width":295,"height":7}},{"id":"774d04fd-6860-48d0-85f3-d5d85d7a480c","block_type":"box","text":"538","page_number":73,"box":{"x":918,"y":310,"width":19,"height":6}},{"id":"7b5b2719-3a48-4d85-bbe4-15edf7414975","block_type":"box","text":"Royal London Investment Grade Short Dated Credit Fund R Acc","page_number":73,"box":{"x":522,"y":327,"width":340,"height":8}},{"id":"e5c548be-6ab7-435a-81f4-8a995ca5128f","block_type":"box","text":"399","page_number":73,"box":{"x":918,"y":327,"width":19,"height":6}},{"id":"414bcd6c-208b-4ba2-83c8-5e34d8fa2386","block_type":"box","text":"Royal London Global Equity Diversified Fund R Acc","page_number":73,"box":{"x":522,"y":345,"width":274,"height":7}},{"id":"9320d3fc-880e-45b3-ae58-d09640d9d83b","block_type":"box","text":"242","page_number":73,"box":{"x":918,"y":345,"width":19,"height":6}},{"id":"d478f8c0-3086-4adb-8d8e-adec88f1f6f5","block_type":"box","text":"Royal London Global Equity Enhanced Fund R Acc","page_number":73,"box":{"x":522,"y":362,"width":271,"height":8}},{"id":"5a86b74b-41b3-40d1-a8a7-b793b30bfa37","block_type":"box","text":"154","page_number":73,"box":{"x":919,"y":362,"width":18,"height":6}},{"id":"aa10c320-c238-4983-95ec-6ad358a839b9","block_type":"box","text":"Subtotal","page_number":73,"box":{"x":521,"y":380,"width":48,"height":6}},{"id":"06d470f9-7e85-49a9-9764-25ea53254d55","block_type":"box","text":"9,424","page_number":73,"box":{"x":908,"y":380,"width":29,"height":7}},{"id":"9188c734-715e-45f7-bb32-dc26dd0997f9","block_type":"box","text":"Total proceeds from sales, including the above, for the period","page_number":73,"box":{"x":521,"y":397,"width":347,"height":8}},{"id":"0ea6cdb5-a0c1-42dd-9a24-088662e65c3e","block_type":"box","text":"9,766","page_number":73,"box":{"x":908,"y":397,"width":29,"height":8}},{"id":"a9089818-884f-4e5b-bd0b-aa942719c2a6","block_type":"box","text":"Royal London GMAP Moderate Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":73,"box":{"x":460,"y":33,"width":453,"height":8}},{"id":"1180c478-96f8-490c-adfe-fe01b43ff608","block_type":"box","text":"73","page_number":73,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"d9097b0a-f672-45e0-8847-61cff6b78953","block_type":"box","text":"Financial Statements","page_number":74,"box":{"x":58,"y":94,"width":253,"height":11}},{"id":"7ae97b2c-8572-4f4e-91fd-b3882c28087e","block_type":"box","text":"Statement of Total Return","page_number":74,"box":{"x":57,"y":151,"width":241,"height":9}},{"id":"cd960293-48b3-4506-a2a6-2373e185e645","block_type":"box","text":"For the six month period ended 30","page_number":74,"box":{"x":58,"y":169,"width":231,"height":10}},{"id":"41657bab-52f3-46e4-a435-cecfc1ab7377","block_type":"box","text":"June 2026","page_number":74,"box":{"x":294,"y":169,"width":70,"height":8}},{"id":"cbf4cca7-e08e-4135-a054-3de218ca54bc","block_type":"box","text":"30 Jun 2026","page_number":74,"box":{"x":264,"y":198,"width":66,"height":6}},{"id":"78abc2a2-d45b-411a-a175-27a485ffcc60","block_type":"box","text":"30 Jun 2025","page_number":74,"box":{"x":407,"y":198,"width":66,"height":6}},{"id":"72a5f355-32ec-4f71-91b2-50653921bfb7","block_type":"box","text":"£’000","page_number":74,"box":{"x":229,"y":207,"width":29,"height":6}},{"id":"d8ff0f18-bcb6-4f34-99c8-e747d42c375e","block_type":"box","text":"£’000","page_number":74,"box":{"x":300,"y":207,"width":30,"height":6}},{"id":"51e834ed-2481-408d-9768-2c3b009dd326","block_type":"box","text":"£’000","page_number":74,"box":{"x":371,"y":207,"width":30,"height":6}},{"id":"390fe974-ad10-4c73-93f2-0f33d18182c3","block_type":"box","text":"£’000","page_number":74,"box":{"x":443,"y":207,"width":30,"height":6}},{"id":"ff96f0d5-c8de-4f11-a085-d1d3f7b1bd5f","block_type":"box","text":"Income","page_number":74,"box":{"x":58,"y":226,"width":38,"height":6}},{"id":"7f729867-38ec-46fc-8825-5c199a0ab0a0","block_type":"box","text":"Net capital gains","page_number":74,"box":{"x":69,"y":243,"width":88,"height":8}},{"id":"cfa4ccf0-5e6d-45a9-90b3-dcd5817f7103","block_type":"box","text":"3,427","page_number":74,"box":{"x":301,"y":243,"width":29,"height":8}},{"id":"51d494f1-a89e-4467-959f-ac509ca17ae9","block_type":"box","text":"26","page_number":74,"box":{"x":460,"y":243,"width":13,"height":6}},{"id":"f92c02ae-39dd-4bb8-b76f-da7a3f77fb93","block_type":"box","text":"Revenue","page_number":74,"box":{"x":69,"y":261,"width":47,"height":6}},{"id":"becd8763-7999-4fef-b861-260ba56c9152","block_type":"box","text":"544","page_number":74,"box":{"x":239,"y":261,"width":19,"height":6}},{"id":"30d9ac64-ddeb-48ca-874d-ee3a71c9f33e","block_type":"box","text":"384","page_number":74,"box":{"x":382,"y":261,"width":19,"height":6}},{"id":"f1d5bf0e-bc24-4978-9cfd-7d9143f023c1","block_type":"box","text":"Expenses","page_number":74,"box":{"x":58,"y":278,"width":51,"height":8}},{"id":"01cd6a4d-a7fc-4a0c-b486-5368bb79afb7","block_type":"box","text":"(46)","page_number":74,"box":{"x":243,"y":278,"width":20,"height":8}},{"id":"9ed9104d-c2c8-4956-98a9-2fc115b34eb3","block_type":"box","text":"(20)","page_number":74,"box":{"x":386,"y":278,"width":19,"height":8}},{"id":"d35914f2-779c-4532-ad6d-13a20888d8f2","block_type":"box","text":"Interest payable and","page_number":74,"box":{"x":58,"y":296,"width":107,"height":8}},{"id":"bdfa96e4-304d-4084-a2fa-e9a300f19ac3","block_type":"box","text":"similar expenses","page_number":74,"box":{"x":57,"y":305,"width":89,"height":8}},{"id":"afd5ad53-39e5-4e5a-9c08-12e74c2af06f","block_type":"box","text":"–","page_number":74,"box":{"x":252,"y":299,"width":7,"height":1}},{"id":"b027d97f-fc84-4fdf-9017-047d2e31475b","block_type":"box","text":"(1)","page_number":74,"box":{"x":393,"y":296,"width":12,"height":8}},{"id":"4a00f5b6-b651-4107-9a9b-e2c569e5f4f8","block_type":"box","text":"Net revenue before","page_number":74,"box":{"x":58,"y":323,"width":101,"height":6}},{"id":"15e92619-22c8-47c1-80a7-007e685461be","block_type":"box","text":"taxation","page_number":74,"box":{"x":57,"y":332,"width":42,"height":6}},{"id":"e87ae38c-f8c3-4718-84c0-343dc1a0a294","block_type":"box","text":"498","page_number":74,"box":{"x":239,"y":323,"width":20,"height":6}},{"id":"672c2edf-2a9c-4957-977e-998b31dd1742","block_type":"box","text":"363","page_number":74,"box":{"x":382,"y":323,"width":19,"height":6}},{"id":"f1c26476-6da3-40c5-b697-c94fef5f4604","block_type":"box","text":"Taxation","page_number":74,"box":{"x":57,"y":350,"width":44,"height":6}},{"id":"80aecf85-85bb-400d-8802-71c9df46c9e1","block_type":"box","text":"(83)","page_number":74,"box":{"x":243,"y":350,"width":20,"height":8}},{"id":"c0a37b33-4ec6-42b5-9391-59abeb8fe215","block_type":"box","text":"(60)","page_number":74,"box":{"x":385,"y":350,"width":20,"height":8}},{"id":"6b9fde6b-4632-4450-9fb4-6c7fb1acd514","block_type":"box","text":"Net revenue after","page_number":74,"box":{"x":58,"y":367,"width":92,"height":6}},{"id":"82805579-e527-43d6-9cdc-461422bd5a01","block_type":"box","text":"taxation","page_number":74,"box":{"x":57,"y":377,"width":42,"height":6}},{"id":"9bbe68a2-ccf8-4ffd-9ced-baf81d6d86ed","block_type":"box","text":"415","page_number":74,"box":{"x":312,"y":367,"width":18,"height":6}},{"id":"cbd3d152-61d3-48d9-8a86-1fc67305f724","block_type":"box","text":"303","page_number":74,"box":{"x":454,"y":367,"width":19,"height":6}},{"id":"6caca981-2a4b-4ef1-8705-e74944d7708b","block_type":"box","text":"Total return before","page_number":74,"box":{"x":57,"y":394,"width":98,"height":6}},{"id":"d73d2512-2e8c-4366-b016-dd28328415db","block_type":"box","text":"distributions","page_number":74,"box":{"x":57,"y":404,"width":64,"height":6}},{"id":"475ee0ce-311f-40ae-973f-fae6a4bafc69","block_type":"box","text":"3,842","page_number":74,"box":{"x":301,"y":394,"width":29,"height":8}},{"id":"824fd6c2-0057-44e3-af4e-896ef4b0cfc8","block_type":"box","text":"329","page_number":74,"box":{"x":454,"y":394,"width":19,"height":6}},{"id":"bd9e66b1-5c7b-42e1-a5fa-6c50ead27974","block_type":"box","text":"Distributions","page_number":74,"box":{"x":58,"y":421,"width":65,"height":6}},{"id":"72a8dc85-8025-4a50-a47d-bbe772990ed5","block_type":"box","text":"(416)","page_number":74,"box":{"x":309,"y":421,"width":25,"height":8}},{"id":"d5dcfe7a-e0a9-4d05-b055-48e102aeb574","block_type":"box","text":"(292)","page_number":74,"box":{"x":450,"y":421,"width":27,"height":8}},{"id":"9196e21e-f13f-4ba8-8b5e-160e00dcbbba","block_type":"box","text":"Change in net assets","page_number":74,"box":{"x":57,"y":439,"width":120,"height":8}},{"id":"0fc61163-60b7-4301-a8e7-bedd1986167b","block_type":"box","text":"attributable to","page_number":74,"box":{"x":57,"y":448,"width":81,"height":6}},{"id":"997f27cd-c064-42e6-aa96-44b87867e8b6","block_type":"box","text":"shareholders from","page_number":74,"box":{"x":57,"y":458,"width":106,"height":6}},{"id":"aeb67fb6-b9bb-408d-9267-15d64e9ec651","block_type":"box","text":"investment activities","page_number":74,"box":{"x":57,"y":467,"width":119,"height":6}},{"id":"7f995c09-75fb-4c9e-be35-971e731f1fce","block_type":"box","text":"3,426","page_number":74,"box":{"x":300,"y":439,"width":30,"height":7}},{"id":"5c030927-99d5-4039-bbb1-867a50dd8dbd","block_type":"box","text":"37","page_number":74,"box":{"x":461,"y":439,"width":12,"height":6}},{"id":"f93ab888-50fd-480b-bd7b-a396e6b024ac","block_type":"box","text":"Statement of Change in Net Assets","page_number":74,"box":{"x":57,"y":513,"width":332,"height":11}},{"id":"ad1fbab9-c8d0-4a29-b15c-51239c0b2364","block_type":"box","text":"Attributable to Shareholders","page_number":74,"box":{"x":57,"y":527,"width":265,"height":9}},{"id":"41b2e9e4-8737-45e6-8815-abd5de8bd6ed","block_type":"box","text":"For the six month period ended 30","page_number":74,"box":{"x":58,"y":545,"width":231,"height":10}},{"id":"2d1a6947-091f-45db-af8f-2eda77ab2524","block_type":"box","text":"June 2026","page_number":74,"box":{"x":294,"y":545,"width":70,"height":8}},{"id":"04495136-80ba-4108-8546-e51d114a1edf","block_type":"box","text":"30 Jun 2026","page_number":74,"box":{"x":264,"y":574,"width":66,"height":6}},{"id":"2d5766a6-9356-4c53-859b-b5faa387099f","block_type":"box","text":"30 Jun 2025","page_number":74,"box":{"x":407,"y":574,"width":66,"height":6}},{"id":"3da7cc3f-1af9-4295-8cf1-c3c5fe4ca852","block_type":"box","text":"£’000","page_number":74,"box":{"x":229,"y":583,"width":29,"height":6}},{"id":"ac1b77dd-5436-4025-8be1-c41148c6420f","block_type":"box","text":"£’000","page_number":74,"box":{"x":300,"y":583,"width":30,"height":6}},{"id":"45574515-7f8d-462f-8d45-5a75a4842480","block_type":"box","text":"£’000","page_number":74,"box":{"x":371,"y":583,"width":30,"height":6}},{"id":"9732cdd6-3e04-401e-b9a3-7702797b3e48","block_type":"box","text":"£’000","page_number":74,"box":{"x":443,"y":583,"width":30,"height":6}},{"id":"e37b6ced-0034-44af-8467-f9a58e8f9e95","block_type":"box","text":"Opening net assets","page_number":74,"box":{"x":57,"y":602,"width":111,"height":7}},{"id":"beb718be-3f2a-40b2-b795-ae97bd65db05","block_type":"box","text":"attributable to","page_number":74,"box":{"x":57,"y":611,"width":81,"height":6}},{"id":"00969064-1b23-4bda-a944-3026507e1abf","block_type":"box","text":"shareholders","page_number":74,"box":{"x":57,"y":621,"width":76,"height":6}},{"id":"0c490db3-2423-4c46-9102-9e8fbf424a16","block_type":"box","text":"48,426","page_number":74,"box":{"x":293,"y":602,"width":37,"height":7}},{"id":"c8096492-5011-4fbc-8b53-4de31463510c","block_type":"box","text":"31,137","page_number":74,"box":{"x":439,"y":602,"width":34,"height":7}},{"id":"0ec234fd-6bca-444b-b1a2-b0b5beb16419","block_type":"box","text":"Issue of shares","page_number":74,"box":{"x":58,"y":638,"width":80,"height":6}},{"id":"8531e438-d0af-4481-bc59-61f9780aa0d8","block_type":"box","text":"5,783","page_number":74,"box":{"x":230,"y":638,"width":28,"height":7}},{"id":"8bff7ee6-845c-4bb8-a724-b8273521603a","block_type":"box","text":"1,130","page_number":74,"box":{"x":375,"y":638,"width":26,"height":7}},{"id":"bd3b06d2-016f-4b88-b472-088155155078","block_type":"box","text":"Cancellation of shares","page_number":74,"box":{"x":57,"y":656,"width":119,"height":6}},{"id":"a70d9b5e-1e7d-403e-a520-f23111ca4425","block_type":"box","text":"(1,551)","page_number":74,"box":{"x":228,"y":656,"width":35,"height":7}},{"id":"1b36870a-a034-4b39-ac2b-df3460ad1a56","block_type":"box","text":"(72)","page_number":74,"box":{"x":385,"y":656,"width":20,"height":7}},{"id":"961fdc1e-a0ad-4de3-9e10-5ce10f25409d","block_type":"box","text":"4,232","page_number":74,"box":{"x":300,"y":673,"width":30,"height":7}},{"id":"b6fcb2a2-a269-4be1-ace3-e2734fe48ba3","block_type":"box","text":"1,058","page_number":74,"box":{"x":445,"y":673,"width":28,"height":7}},{"id":"395afa6c-a477-4c6b-91a4-2d1cd2c4b21c","block_type":"box","text":"Dilution adjustment","page_number":74,"box":{"x":58,"y":691,"width":101,"height":7}},{"id":"d0b530e8-0814-4d14-81ce-43f7dad7073a","block_type":"box","text":"6","page_number":74,"box":{"x":324,"y":691,"width":6,"height":6}},{"id":"0a778438-6946-4a66-8f3c-0a4c50bc89fc","block_type":"box","text":"1","page_number":74,"box":{"x":468,"y":691,"width":3,"height":6}},{"id":"2f6fa09c-725e-453a-b49b-0f4995e63e33","block_type":"box","text":"Stamp duty reserve tax","page_number":74,"box":{"x":57,"y":708,"width":124,"height":8}},{"id":"a663a4fc-18b8-463f-b7e3-812e8e593912","block_type":"box","text":"(2)","page_number":74,"box":{"x":321,"y":708,"width":13,"height":8}},{"id":"c3a6d339-a635-4a70-9794-8fe22d54556c","block_type":"box","text":"–","page_number":74,"box":{"x":467,"y":712,"width":6,"height":0}},{"id":"eac3568f-9a7c-4612-80b5-a389175922ec","block_type":"box","text":"Change in net","page_number":74,"box":{"x":57,"y":726,"width":74,"height":7}},{"id":"2fdc19ba-df4d-4785-b25d-9c4c460db328","block_type":"box","text":"assets attributable","page_number":74,"box":{"x":57,"y":735,"width":98,"height":6}},{"id":"de0193c1-aa40-4861-b4f8-ecae0f0af9b3","block_type":"box","text":"to shareholders from","page_number":74,"box":{"x":57,"y":745,"width":110,"height":6}},{"id":"d3684140-a97d-4da7-b230-38f646dfff8e","block_type":"box","text":"investment activities","page_number":74,"box":{"x":57,"y":754,"width":108,"height":6}},{"id":"e4bf14de-4964-4394-88dd-7411b6eba73b","block_type":"box","text":"3,426","page_number":74,"box":{"x":301,"y":726,"width":29,"height":7}},{"id":"2e1c797a-efbd-45ca-bff8-48b85bc7eb33","block_type":"box","text":"37","page_number":74,"box":{"x":461,"y":726,"width":12,"height":6}},{"id":"82eb6501-8833-49dc-a910-11f34d2865b8","block_type":"box","text":"Retained distributions on","page_number":74,"box":{"x":58,"y":772,"width":131,"height":6}},{"id":"7771470e-3181-4ada-b90e-af458bec76aa","block_type":"box","text":"accumulation shares","page_number":74,"box":{"x":57,"y":781,"width":110,"height":6}},{"id":"3a790d2f-235c-4d14-b4c5-39799663afa4","block_type":"box","text":"431","page_number":74,"box":{"x":311,"y":772,"width":17,"height":6}},{"id":"234bd78a-3944-4780-8f99-18b025cb734c","block_type":"box","text":"297","page_number":74,"box":{"x":454,"y":772,"width":19,"height":6}},{"id":"06ffe9e4-00f9-46b1-8c3e-8fd24dd4ad4a","block_type":"box","text":"Closing net assets","page_number":74,"box":{"x":57,"y":799,"width":106,"height":7}},{"id":"af2c6e17-9a8f-4d03-a937-4f7f584d98fb","block_type":"box","text":"attributable to","page_number":74,"box":{"x":57,"y":808,"width":81,"height":6}},{"id":"6d1ae428-b546-49ea-b8b2-7cd67e104bd0","block_type":"box","text":"shareholders","page_number":74,"box":{"x":57,"y":818,"width":76,"height":6}},{"id":"9b74149d-9e50-4e31-a943-7230b6bcd9fa","block_type":"box","text":"56,519","page_number":74,"box":{"x":294,"y":799,"width":36,"height":7}},{"id":"934133e9-86d6-4939-8993-df228e14da13","block_type":"box","text":"32,530","page_number":74,"box":{"x":436,"y":799,"width":37,"height":7}},{"id":"091cffaa-86d3-4448-b2a1-c882a03cff8f","block_type":"box","text":"Balance Sheet","page_number":74,"box":{"x":522,"y":151,"width":134,"height":9}},{"id":"1fd21430-f2ee-46b9-8c8d-5b4a0a4860e9","block_type":"box","text":"As at 30","page_number":74,"box":{"x":521,"y":169,"width":55,"height":8}},{"id":"487ba2e0-b4cf-41c1-8168-91bc55dee4af","block_type":"box","text":"June 2026","page_number":74,"box":{"x":582,"y":169,"width":70,"height":8}},{"id":"892e4148-caa7-4502-9371-8342d072c6a1","block_type":"box","text":"30 Jun 2026","page_number":74,"box":{"x":728,"y":198,"width":66,"height":6}},{"id":"f861f271-8a4f-4a4d-8e40-00cd3281a2d2","block_type":"box","text":"31 Dec 2025","page_number":74,"box":{"x":871,"y":198,"width":66,"height":6}},{"id":"1434b9cc-3766-4ef3-b446-4d73b18d61ca","block_type":"box","text":"£’000","page_number":74,"box":{"x":764,"y":207,"width":30,"height":6}},{"id":"983ca757-823d-44ad-8fb5-648769b77dff","block_type":"box","text":"£’000","page_number":74,"box":{"x":907,"y":207,"width":30,"height":6}},{"id":"2cbfb88f-dec0-4e19-8f9d-a7eca8adc75e","block_type":"box","text":"Assets","page_number":74,"box":{"x":521,"y":226,"width":39,"height":6}},{"id":"aa5b5600-e5ee-40c0-b286-28443424c4df","block_type":"box","text":"Investments","page_number":74,"box":{"x":522,"y":243,"width":63,"height":6}},{"id":"4a229436-3383-40a6-a860-36830206691c","block_type":"box","text":"55,650","page_number":74,"box":{"x":758,"y":243,"width":36,"height":7}},{"id":"9a97d757-28b4-4968-a8f2-ee67d268b2b8","block_type":"box","text":"47,806","page_number":74,"box":{"x":902,"y":243,"width":35,"height":7}},{"id":"2280a095-54d1-4a8b-98b5-109c61b0f3b7","block_type":"box","text":"Amounts receivable","page_number":74,"box":{"x":521,"y":261,"width":106,"height":6}},{"id":"c1f88965-129e-472a-b3f2-1afeabf50b5a","block_type":"box","text":"121","page_number":74,"box":{"x":777,"y":261,"width":16,"height":6}},{"id":"36d23282-bbda-4ad4-b335-b674baf22f1f","block_type":"box","text":"207","page_number":74,"box":{"x":918,"y":261,"width":19,"height":6}},{"id":"a767499b-9fff-4e3c-bb9a-b0683b981e1c","block_type":"box","text":"Cash and cash","page_number":74,"box":{"x":522,"y":278,"width":78,"height":6}},{"id":"484d9667-f2e9-4818-be9a-1701b8e62021","block_type":"box","text":"equivalents","page_number":74,"box":{"x":521,"y":288,"width":61,"height":7}},{"id":"007c768c-9641-4843-90f8-b750462ca200","block_type":"box","text":"1,385","page_number":74,"box":{"x":766,"y":278,"width":28,"height":7}},{"id":"34bfaf08-8e62-4029-9f00-7d9cd11bb8ae","block_type":"box","text":"1,138","page_number":74,"box":{"x":911,"y":278,"width":26,"height":7}},{"id":"94a4ecfb-095c-4586-b745-fbe2901836d7","block_type":"box","text":"Total assets","page_number":74,"box":{"x":521,"y":305,"width":64,"height":6}},{"id":"a9a1f7fe-d10c-4d04-9bc3-685fac589711","block_type":"box","text":"57,156","page_number":74,"box":{"x":761,"y":305,"width":33,"height":7}},{"id":"cb2ea190-1e01-4b69-a025-6ef9fc974c7e","block_type":"box","text":"49,151","page_number":74,"box":{"x":903,"y":305,"width":32,"height":7}},{"id":"adbeaa59-228f-48cc-8e90-b4bcb7caf1db","block_type":"box","text":"Liabilities","page_number":74,"box":{"x":522,"y":323,"width":55,"height":6}},{"id":"c0419633-b833-4d04-8764-30b507612592","block_type":"box","text":"Investments","page_number":74,"box":{"x":522,"y":340,"width":63,"height":6}},{"id":"a83b4b8e-b687-4e4f-85a7-f07403ddd633","block_type":"box","text":"66","page_number":74,"box":{"x":782,"y":340,"width":12,"height":6}},{"id":"0fd4d535-93fa-4a84-a4ce-9ebf7b45ca1a","block_type":"box","text":"73","page_number":74,"box":{"x":925,"y":340,"width":12,"height":6}},{"id":"0568c4f5-9bc1-4a16-a10b-64b6a9efbbde","block_type":"box","text":"Bank overdrafts","page_number":74,"box":{"x":522,"y":358,"width":83,"height":6}},{"id":"cc43c9d8-d6ac-4f79-aa69-52a488f1079c","block_type":"box","text":"298","page_number":74,"box":{"x":775,"y":358,"width":19,"height":6}},{"id":"c9e3cfbf-a3ee-430d-9567-d524c8299bbd","block_type":"box","text":"202","page_number":74,"box":{"x":918,"y":358,"width":19,"height":6}},{"id":"fd5868e6-3fe1-478f-9483-82766ad0b3cf","block_type":"box","text":"Other amounts payable","page_number":74,"box":{"x":521,"y":375,"width":124,"height":8}},{"id":"b991f818-8e55-4d83-9540-486edaf208a4","block_type":"box","text":"273","page_number":74,"box":{"x":775,"y":375,"width":19,"height":6}},{"id":"1913fbd0-6f60-4b4a-8559-b797bcf5f85e","block_type":"box","text":"450","page_number":74,"box":{"x":918,"y":375,"width":19,"height":6}},{"id":"4857eed2-7df7-45c9-8d9e-98efe1a201c4","block_type":"box","text":"Total liabilities","page_number":74,"box":{"x":521,"y":393,"width":75,"height":6}},{"id":"7fe84c6a-10c7-4082-bc3e-7201a269f0c7","block_type":"box","text":"637","page_number":74,"box":{"x":775,"y":393,"width":19,"height":6}},{"id":"9ca29947-a653-48f4-9610-6f7e5bf4b899","block_type":"box","text":"725","page_number":74,"box":{"x":918,"y":393,"width":19,"height":6}},{"id":"2c48f1de-0dfc-49b6-8cd8-4f082b75c66a","block_type":"box","text":"Net assets","page_number":74,"box":{"x":522,"y":410,"width":59,"height":6}},{"id":"32ca33ea-1e17-4365-bb8b-38cc4e3441f4","block_type":"box","text":"attributable to","page_number":74,"box":{"x":521,"y":420,"width":82,"height":6}},{"id":"49736cea-cb97-493f-949a-51028fec02ad","block_type":"box","text":"shareholders","page_number":74,"box":{"x":521,"y":429,"width":76,"height":6}},{"id":"4af94ef2-e83a-41df-9bc0-db74a62bc198","block_type":"box","text":"56,519","page_number":74,"box":{"x":759,"y":410,"width":35,"height":8}},{"id":"3b7d1a1c-54be-48d5-8844-ed68170b64c4","block_type":"box","text":"48,426","page_number":74,"box":{"x":900,"y":410,"width":37,"height":8}},{"id":"dc96f806-3fea-4b71-9d90-f3776e197da0","block_type":"box","text":"Royal London GMAP Moderate Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":74,"box":{"x":460,"y":33,"width":453,"height":8}},{"id":"dc8e6fff-fcdd-47da-bea7-89d626508891","block_type":"box","text":"74","page_number":74,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"e1aec90a-ace3-4b81-8482-34a3c6c6996a","block_type":"box","text":"Notes to the Financial Statements","page_number":75,"box":{"x":58,"y":94,"width":409,"height":11}},{"id":"b66b69c8-b52a-474b-8741-42983e931749","block_type":"box","text":"For the six month period ended 30","page_number":75,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"d0ce280b-cb49-4b0b-b7cb-05109c188cb2","block_type":"box","text":"June 2026","page_number":75,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"2a6a939d-d3e9-40d8-959f-2377ddd76ca0","block_type":"box","text":"1. Accounting policies","page_number":75,"box":{"x":58,"y":151,"width":205,"height":11}},{"id":"b800c7fa-285d-4992-b2c3-37aa8cad54f1","block_type":"box","text":"The accounting policies are set out in note 1 on pages","page_number":75,"box":{"x":57,"y":169,"width":404,"height":10}},{"id":"f3304d74-3ddb-425b-9bec-ac21fdafd41d","block_type":"box","text":"5","page_number":75,"box":{"x":470,"y":170,"width":7,"height":7}},{"id":"acad0f7b-5a64-4529-a4fa-e102d7c43690","block_type":"box","text":"and","page_number":75,"box":{"x":57,"y":184,"width":24,"height":8}},{"id":"d5880d3e-46a0-4cd8-bc03-8b0af09d558d","block_type":"box","text":"6","page_number":75,"box":{"x":87,"y":184,"width":7,"height":8}},{"id":"ede4e539-2181-4be5-a25d-10aa16b0f4e9","block_type":"box","text":".","page_number":75,"box":{"x":96,"y":190,"width":2,"height":1}},{"id":"f4722d21-0cc6-410c-8633-a25dd180d3a4","block_type":"box","text":"2. Related party transactions","page_number":75,"box":{"x":57,"y":210,"width":272,"height":12}},{"id":"e3471c2f-efc6-4fa2-986f-d021009d8487","block_type":"box","text":"The Fund’s Authorised Corporate Director, Royal London","page_number":75,"box":{"x":57,"y":229,"width":420,"height":10}},{"id":"0e53c971-ce65-48cb-97d7-cc9141fc6bf3","block_type":"box","text":"Unit Trust Managers Limited, is a related party to the Fund","page_number":75,"box":{"x":58,"y":243,"width":419,"height":10}},{"id":"57fab2d4-ac20-4d6c-9503-377d1020b987","block_type":"box","text":"as defined by Financial Reporting Standard 102 ‘Related","page_number":75,"box":{"x":57,"y":257,"width":420,"height":10}},{"id":"6e806202-cd5b-4ce8-99e4-24fbfe42aecf","block_type":"box","text":"Party Disclosures’.","page_number":75,"box":{"x":58,"y":272,"width":124,"height":10}},{"id":"24ad82e0-6f66-448a-afec-ac6ce426cf57","block_type":"box","text":"Fund Management fees charged by Royal London Unit Trust","page_number":75,"box":{"x":58,"y":293,"width":420,"height":10}},{"id":"5d3ebc0c-9c83-49df-8706-f3c57589c4be","block_type":"box","text":"Managers Limited are disclosed within the expenses figure","page_number":75,"box":{"x":58,"y":307,"width":419,"height":10}},{"id":"d516f54c-f6e4-4829-98f5-66bf10fd97f6","block_type":"box","text":"shown on the Statement of Total Return and details of shares","page_number":75,"box":{"x":57,"y":321,"width":421,"height":8}},{"id":"f453acd2-07af-4c3c-832e-488fcd1c60c9","block_type":"box","text":"created and cancelled by Royal London Unit Trust Managers","page_number":75,"box":{"x":57,"y":336,"width":421,"height":9}},{"id":"a0dfd058-c718-4327-90cf-8ae35b486dbf","block_type":"box","text":"Limited are shown in the Statement of Change in Net Assets","page_number":75,"box":{"x":58,"y":350,"width":420,"height":10}},{"id":"5047f727-7859-491a-a733-989a1238bac2","block_type":"box","text":"Attributable to Shareholders and the Distribution figure shown","page_number":75,"box":{"x":57,"y":364,"width":420,"height":10}},{"id":"54109fd2-7a2f-4989-abfe-0403746d0a2a","block_type":"box","text":"on the Statement of Total Return.","page_number":75,"box":{"x":57,"y":378,"width":223,"height":8}},{"id":"a6043ccd-22fb-46ea-99a2-2c25814219bd","block_type":"box","text":"At the six months period end the balance due to Royal London","page_number":75,"box":{"x":57,"y":399,"width":420,"height":10}},{"id":"26f2e45f-1b94-4ff9-bfda-28e4e520834c","block_type":"box","text":"Unit Trust Managers Limited in respect of these transactions","page_number":75,"box":{"x":58,"y":413,"width":419,"height":10}},{"id":"13ac9d26-228f-4582-9a8c-1ebcbde6d410","block_type":"box","text":"was £83,000 (31/12/25: £152,000).","page_number":75,"box":{"x":57,"y":428,"width":232,"height":10}},{"id":"b47b8d63-feaa-4b5e-a2a7-10576b6f7756","block_type":"box","text":"Amounts due from Royal London Unit Trust Managers Limited in","page_number":75,"box":{"x":57,"y":449,"width":420,"height":10}},{"id":"510aae8c-0594-4886-8118-c642458782bc","block_type":"box","text":"respect of periodic charge rebates at the period end amounted","page_number":75,"box":{"x":58,"y":463,"width":419,"height":10}},{"id":"5028f7db-79be-4977-918e-8277478b51c6","block_type":"box","text":"to £11,000 (31/12/25: £9,000).","page_number":75,"box":{"x":57,"y":477,"width":200,"height":10}},{"id":"a9e2391c-ad9c-410a-9c9f-4152b6480f86","block_type":"box","text":"At the six months period end, 30 June 2026, 83.26% (31/12/25:","page_number":75,"box":{"x":57,"y":498,"width":420,"height":10}},{"id":"dabeede1-74dd-4f59-aa2a-d38033cf51b6","block_type":"box","text":"90.70%) of the shares in issue were held by The Royal London","page_number":75,"box":{"x":57,"y":512,"width":420,"height":10}},{"id":"daa892ac-ae3e-454f-97bf-17bcff4cf8fa","block_type":"box","text":"Mutual Insurance Society Limited. Royal London Unit Trust","page_number":75,"box":{"x":58,"y":527,"width":420,"height":10}},{"id":"0d964193-c093-4ea6-ab99-53114475246c","block_type":"box","text":"Managers Limited is a wholly owned subsidiary of The Royal","page_number":75,"box":{"x":58,"y":541,"width":419,"height":10}},{"id":"fef07cf5-8ec6-47c6-891d-98a48177470c","block_type":"box","text":"London Mutual Insurance Society Limited.","page_number":75,"box":{"x":58,"y":555,"width":282,"height":10}},{"id":"3834e138-db74-483a-ad0b-5bb627146ef1","block_type":"box","text":"3. Fair value of investments","page_number":75,"box":{"x":522,"y":151,"width":255,"height":9}},{"id":"4b963fb1-6386-4b82-b03d-a62b029dd3c3","block_type":"box","text":"The fair values of the Fund’s assets and liabilities are","page_number":75,"box":{"x":521,"y":169,"width":421,"height":8}},{"id":"2e2175ce-a5ba-4729-b429-bc91ad300210","block_type":"box","text":"represented by the values shown in the balance sheet. There","page_number":75,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"8218cb70-3b4a-44ba-9d6a-f8731811dd06","block_type":"box","text":"is no material difference between the value of the financial","page_number":75,"box":{"x":522,"y":198,"width":419,"height":8}},{"id":"49a0a563-2d11-46a0-9333-cbb61bcbfff5","block_type":"box","text":"assets and liabilities, as shown in the balance sheet, and their","page_number":75,"box":{"x":521,"y":212,"width":422,"height":9}},{"id":"a1b884d0-24f2-4142-8848-23d4df4c4f49","block_type":"box","text":"fair value.","page_number":75,"box":{"x":521,"y":226,"width":64,"height":8}},{"id":"0ccca980-ab27-4930-a679-3c10f44925a6","block_type":"box","text":"The fair value of investments has been determined using the","page_number":75,"box":{"x":521,"y":247,"width":421,"height":10}},{"id":"b9e5ec4f-bdb4-4102-9eb3-96d9af86a0a3","block_type":"box","text":"following hierarchy:","page_number":75,"box":{"x":521,"y":262,"width":130,"height":10}},{"id":"05ba9862-c178-4e3d-b94a-aa69dbde8873","block_type":"box","text":"Level 1","page_number":75,"box":{"x":522,"y":283,"width":45,"height":7}},{"id":"b42e07f1-017c-4ef3-a192-b1dd80c47104","block_type":"box","text":"The unadjusted quoted price in an active market","page_number":75,"box":{"x":593,"y":283,"width":349,"height":10}},{"id":"c62d3d30-8924-46fc-9ec7-268a3ebd9e84","block_type":"box","text":"for identical assets or liabilities that the entity can","page_number":75,"box":{"x":592,"y":297,"width":349,"height":10}},{"id":"d89ca9ab-f8dd-4dd3-9057-5b8f5ad38a8a","block_type":"box","text":"access at the measurement date.","page_number":75,"box":{"x":593,"y":311,"width":224,"height":8}},{"id":"67f44e93-5592-4743-a322-ca4ecd306820","block_type":"box","text":"Level 2","page_number":75,"box":{"x":522,"y":332,"width":47,"height":8}},{"id":"49a42de2-73ef-404f-85f9-ed13e8e3e0e2","block_type":"box","text":"Inputs other than quoted prices included within","page_number":75,"box":{"x":594,"y":332,"width":347,"height":10}},{"id":"cb0aea19-f3d5-479a-bccf-94def7ecb775","block_type":"box","text":"Level 1 that are observable (i.e. developed using","page_number":75,"box":{"x":593,"y":346,"width":348,"height":10}},{"id":"7f3056e9-b99d-436b-87c4-912835643820","block_type":"box","text":"market data) for the asset or liability, either directly","page_number":75,"box":{"x":593,"y":361,"width":349,"height":10}},{"id":"56ebc4f7-ab0e-4bba-b7a1-aebca491ec77","block_type":"box","text":"or indirectly.","page_number":75,"box":{"x":593,"y":375,"width":80,"height":10}},{"id":"7c51b6eb-a12a-4015-b91f-fe860be2e9aa","block_type":"box","text":"Level 3","page_number":75,"box":{"x":522,"y":396,"width":47,"height":8}},{"id":"f693e838-76c6-436b-b1a1-59d58f0def80","block_type":"box","text":"Inputs are unobservable (i.e. for which market data","page_number":75,"box":{"x":594,"y":396,"width":348,"height":10}},{"id":"5b12b936-54be-48e4-ae1e-4b4305d7a900","block_type":"box","text":"is unavailable) for the asset or liability.","page_number":75,"box":{"x":593,"y":410,"width":255,"height":10}},{"id":"1c162423-6f28-407d-b959-1ea4ff7e5f63","block_type":"box","text":"As at the period ended 30","page_number":75,"box":{"x":521,"y":431,"width":186,"height":10}},{"id":"49461dd4-efd3-4951-81c7-af25067e924f","block_type":"box","text":"June 2026","page_number":75,"box":{"x":713,"y":431,"width":73,"height":8}},{"id":"2a279255-3220-4369-ba50-e00d8bc73e1b","block_type":"box","text":"Level","page_number":75,"box":{"x":522,"y":456,"width":28,"height":6}},{"id":"46990a59-5b3a-48ac-a33a-3c42df9f80e3","block_type":"box","text":"1","page_number":75,"box":{"x":718,"y":456,"width":3,"height":6}},{"id":"9a70c8a7-e201-43e1-bd2c-a0018901902e","block_type":"box","text":"2","page_number":75,"box":{"x":788,"y":456,"width":6,"height":6}},{"id":"ca228ba2-10a9-4d17-a80a-d3f63a3303a8","block_type":"box","text":"3","page_number":75,"box":{"x":860,"y":456,"width":6,"height":6}},{"id":"4ebcf828-c548-47e9-9940-6b7c0ae89999","block_type":"box","text":"Total","page_number":75,"box":{"x":910,"y":456,"width":27,"height":6}},{"id":"ef10fa29-0110-4999-a613-021785366080","block_type":"box","text":"£’000","page_number":75,"box":{"x":693,"y":466,"width":30,"height":6}},{"id":"46a41120-feb4-4642-ad53-4fbdee83966f","block_type":"box","text":"£’000","page_number":75,"box":{"x":764,"y":466,"width":30,"height":6}},{"id":"d7836d53-ea30-472a-b3c4-93e594567b2b","block_type":"box","text":"£’000","page_number":75,"box":{"x":836,"y":466,"width":30,"height":6}},{"id":"293328ae-0f68-45fc-a47d-d2e993242ebc","block_type":"box","text":"£’000","page_number":75,"box":{"x":907,"y":466,"width":30,"height":6}},{"id":"68cb1623-9838-434e-8a7a-a54112bd0a56","block_type":"box","text":"Investments","page_number":75,"box":{"x":522,"y":484,"width":69,"height":6}},{"id":"7fe1285c-71c2-44ea-85d5-b75eedb7dc02","block_type":"box","text":"Exchange Traded","page_number":75,"box":{"x":522,"y":502,"width":92,"height":7}},{"id":"46a3d47a-775e-4d61-83b3-7bd09e96cea5","block_type":"box","text":"Funds and","page_number":75,"box":{"x":522,"y":511,"width":54,"height":6}},{"id":"43c6cf6b-3b6d-4216-be2c-021c9fb9bf53","block_type":"box","text":"Commodities","page_number":75,"box":{"x":522,"y":521,"width":69,"height":6}},{"id":"58fd4a4b-4c2c-409c-a21a-aefae2bb151b","block_type":"box","text":"2,927","page_number":75,"box":{"x":693,"y":502,"width":30,"height":7}},{"id":"30314678-4bfa-4aaf-b758-9a24d62a3c67","block_type":"box","text":"–","page_number":75,"box":{"x":788,"y":505,"width":7,"height":1}},{"id":"4b5c70e3-bb49-4303-8f56-e41d81bdb728","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":505,"width":6,"height":1}},{"id":"01db2963-3417-461e-bfb5-c9f380cd6b79","block_type":"box","text":"2,927","page_number":75,"box":{"x":908,"y":502,"width":29,"height":7}},{"id":"7a2723bd-f18a-4004-a310-9f6db28e4092","block_type":"box","text":"Collective investment","page_number":75,"box":{"x":522,"y":538,"width":113,"height":6}},{"id":"6500b7a7-f92d-42a9-9861-df773e17a0c5","block_type":"box","text":"schemes","page_number":75,"box":{"x":521,"y":548,"width":48,"height":6}},{"id":"35217932-4657-4608-b281-bdcb6f1f7654","block_type":"box","text":"–","page_number":75,"box":{"x":717,"y":542,"width":6,"height":0}},{"id":"efb8c4f2-0062-4e00-8dd3-254c5aeb12b2","block_type":"box","text":"52,568","page_number":75,"box":{"x":758,"y":538,"width":36,"height":7}},{"id":"fe93f4e6-bb7e-4b15-a893-c2a962ccdec0","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":542,"width":6,"height":0}},{"id":"785214c7-e1bd-4fb8-8825-c12b2b465231","block_type":"box","text":"52,568","page_number":75,"box":{"x":901,"y":538,"width":36,"height":7}},{"id":"49d28900-c9c4-4f94-88ac-f363e729390b","block_type":"box","text":"Derivatives","page_number":75,"box":{"x":522,"y":565,"width":58,"height":6}},{"id":"2a868679-0d22-453f-9fbe-308060746c7c","block_type":"box","text":"102","page_number":75,"box":{"x":705,"y":565,"width":18,"height":6}},{"id":"8137c951-c862-4151-a206-130686108abf","block_type":"box","text":"53","page_number":75,"box":{"x":782,"y":565,"width":12,"height":6}},{"id":"e37c712a-648b-4ccd-8f7f-a5a90adf7211","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":569,"width":6,"height":0}},{"id":"fad6352a-f37a-4b8a-bc2c-092548f3c074","block_type":"box","text":"155","page_number":75,"box":{"x":919,"y":565,"width":18,"height":6}},{"id":"9436b9ad-bcc1-4423-9580-46ed72bdeee8","block_type":"box","text":"Total","page_number":75,"box":{"x":521,"y":583,"width":27,"height":6}},{"id":"5d88b4a9-ccfb-4b2c-875e-c595e86276cf","block_type":"box","text":"3,029","page_number":75,"box":{"x":693,"y":583,"width":30,"height":7}},{"id":"7277ddaf-0c21-45d6-8213-c5796124d053","block_type":"box","text":"52,621","page_number":75,"box":{"x":758,"y":583,"width":35,"height":7}},{"id":"4cb4bf8b-3112-4375-b70b-8c30f6867076","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":586,"width":6,"height":1}},{"id":"19a84610-c587-4269-825f-86599e427f25","block_type":"box","text":"55,650","page_number":75,"box":{"x":901,"y":583,"width":36,"height":7}},{"id":"ba57d7fd-945f-4672-a602-b372e5efe60a","block_type":"box","text":"Investment liabilities","page_number":75,"box":{"x":522,"y":600,"width":119,"height":6}},{"id":"a1813dd7-aa92-4be0-b70b-7aaeaffb3886","block_type":"box","text":"Derivatives","page_number":75,"box":{"x":522,"y":618,"width":58,"height":6}},{"id":"b80d7d5c-a40c-476a-8519-ae5d603bda3d","block_type":"box","text":"(60)","page_number":75,"box":{"x":707,"y":618,"width":20,"height":7}},{"id":"2eb28a37-9b53-4ea3-ad01-f832f5e16dcb","block_type":"box","text":"(6)","page_number":75,"box":{"x":785,"y":618,"width":13,"height":7}},{"id":"f13b779e-ed41-4045-9546-f8967af374ef","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":621,"width":6,"height":1}},{"id":"310c4953-4e09-46a9-bec0-68904084b62a","block_type":"box","text":"(66)","page_number":75,"box":{"x":921,"y":618,"width":20,"height":7}},{"id":"acbd59f2-5520-4c36-acf2-335c79c708e7","block_type":"box","text":"Total","page_number":75,"box":{"x":521,"y":635,"width":27,"height":6}},{"id":"f1fae89b-032b-4349-92f4-d1eb512a6ddb","block_type":"box","text":"(60)","page_number":75,"box":{"x":707,"y":635,"width":20,"height":8}},{"id":"edf4bcf2-98a9-489f-a243-003397df12b4","block_type":"box","text":"(6)","page_number":75,"box":{"x":785,"y":635,"width":13,"height":8}},{"id":"e09a4406-e718-4207-a162-be0b83300f7d","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":639,"width":6,"height":0}},{"id":"3fd8fd67-6001-470c-a955-be318eb830b5","block_type":"box","text":"(66)","page_number":75,"box":{"x":921,"y":635,"width":20,"height":8}},{"id":"086c6d5a-c5c1-4f2f-822a-6cd3c41a46dd","block_type":"box","text":"As at the year ended 31","page_number":75,"box":{"x":521,"y":657,"width":168,"height":10}},{"id":"f453fe82-5225-4b24-a134-9fc86d639394","block_type":"box","text":"December 2025","page_number":75,"box":{"x":697,"y":657,"width":111,"height":8}},{"id":"a5ee3bf7-5a0c-4db8-b4cc-e32352540658","block_type":"box","text":"Level","page_number":75,"box":{"x":522,"y":682,"width":28,"height":6}},{"id":"3e475bdb-a802-410b-b865-49a961442661","block_type":"box","text":"1","page_number":75,"box":{"x":718,"y":682,"width":3,"height":6}},{"id":"eecbf4ad-bb7a-45da-8cd0-38b1be399aff","block_type":"box","text":"2","page_number":75,"box":{"x":788,"y":682,"width":6,"height":6}},{"id":"b4c0c540-f91d-47d2-b6a2-e7b8d16b1ad3","block_type":"box","text":"3","page_number":75,"box":{"x":860,"y":682,"width":6,"height":6}},{"id":"36391285-fdc5-4cd7-afeb-270c19bdc1a9","block_type":"box","text":"Total","page_number":75,"box":{"x":910,"y":682,"width":27,"height":6}},{"id":"94e53e50-172d-4a31-9152-99cf15265339","block_type":"box","text":"£’000","page_number":75,"box":{"x":693,"y":692,"width":30,"height":6}},{"id":"53cf26ad-2ec4-4f4b-8c87-0d6740ecb27b","block_type":"box","text":"£’000","page_number":75,"box":{"x":764,"y":692,"width":30,"height":6}},{"id":"5b2543f2-f864-4f55-ada5-cbf9895a4ccf","block_type":"box","text":"£’000","page_number":75,"box":{"x":836,"y":692,"width":30,"height":6}},{"id":"0b9714ef-db60-464b-a6d0-4a5191e14462","block_type":"box","text":"£’000","page_number":75,"box":{"x":907,"y":692,"width":30,"height":6}},{"id":"1672fc67-effe-45c1-8dd3-b93f9b52f117","block_type":"box","text":"Investments","page_number":75,"box":{"x":522,"y":710,"width":69,"height":6}},{"id":"f9998acd-7670-4783-b667-5d5956bf78d0","block_type":"box","text":"Exchange Traded","page_number":75,"box":{"x":522,"y":728,"width":92,"height":7}},{"id":"96e09de4-c56e-49e4-9a7d-ca8dba4a79e0","block_type":"box","text":"Funds and","page_number":75,"box":{"x":522,"y":737,"width":54,"height":6}},{"id":"e0ad4fd0-72a6-46bc-8414-c2635dbe08fc","block_type":"box","text":"Commodities","page_number":75,"box":{"x":522,"y":747,"width":69,"height":6}},{"id":"d2f8b7f6-b8ab-4dbf-8933-8960cdc469ab","block_type":"box","text":"3,535","page_number":75,"box":{"x":693,"y":728,"width":30,"height":7}},{"id":"db771871-7e1a-4a69-aaf3-d103d2562041","block_type":"box","text":"–","page_number":75,"box":{"x":788,"y":731,"width":7,"height":1}},{"id":"6b81a773-4583-42c9-811f-89eda6ea3a9f","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":731,"width":6,"height":1}},{"id":"f234408f-7eb9-4b8d-b32b-9110c8ae7885","block_type":"box","text":"3,535","page_number":75,"box":{"x":908,"y":728,"width":29,"height":7}},{"id":"47936b07-5344-4260-8004-d9ee1e4e7353","block_type":"box","text":"Collective investment","page_number":75,"box":{"x":522,"y":764,"width":113,"height":6}},{"id":"e7c56b16-fe7d-46e0-b5f9-7a7a477a4cb1","block_type":"box","text":"schemes","page_number":75,"box":{"x":521,"y":774,"width":48,"height":6}},{"id":"2b09a7db-de46-4af8-9621-8d4b9a07959e","block_type":"box","text":"–","page_number":75,"box":{"x":717,"y":768,"width":6,"height":0}},{"id":"293f2c08-5d44-4b9e-84e1-4be50de322f3","block_type":"box","text":"44,205","page_number":75,"box":{"x":757,"y":764,"width":37,"height":7}},{"id":"b12855f0-d7f1-4e78-a357-4ac11fef9e56","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":768,"width":6,"height":0}},{"id":"e69f1710-b062-4088-84c7-623b31031dbb","block_type":"box","text":"44,205","page_number":75,"box":{"x":900,"y":764,"width":37,"height":7}},{"id":"2e4dfc49-ebb6-4bc4-8f31-28f4fbe72ade","block_type":"box","text":"Derivatives","page_number":75,"box":{"x":522,"y":791,"width":58,"height":6}},{"id":"e90f35f5-f0f8-43a3-b8b8-d3243a9457a3","block_type":"box","text":"65","page_number":75,"box":{"x":710,"y":791,"width":13,"height":6}},{"id":"0262f4c6-7d05-43e6-85da-2235047a1205","block_type":"box","text":"1","page_number":75,"box":{"x":789,"y":791,"width":4,"height":6}},{"id":"f1af56d2-f921-4382-810b-e73b41bee84e","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":795,"width":6,"height":0}},{"id":"6ab20e89-e118-4098-bb2f-7747aaacad4b","block_type":"box","text":"66","page_number":75,"box":{"x":925,"y":791,"width":12,"height":6}},{"id":"0085a4e1-32b2-4f2e-873c-8021e30aff35","block_type":"box","text":"Total","page_number":75,"box":{"x":521,"y":809,"width":27,"height":6}},{"id":"90a32ba4-46a8-4f44-ab43-4c1902ba30d3","block_type":"box","text":"3,600","page_number":75,"box":{"x":693,"y":809,"width":30,"height":7}},{"id":"0349254e-5323-4018-b561-d3e06aa9ab62","block_type":"box","text":"44,206","page_number":75,"box":{"x":757,"y":809,"width":37,"height":7}},{"id":"ee03dcdb-5c92-40df-ba61-2cfc10058517","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":812,"width":6,"height":1}},{"id":"9d7330c1-478c-441c-ba01-96d5dd432a0c","block_type":"box","text":"47,806","page_number":75,"box":{"x":902,"y":809,"width":35,"height":7}},{"id":"53c1a1a0-34af-4e8e-9207-8d57277a4d9d","block_type":"box","text":"Investment liabilities","page_number":75,"box":{"x":522,"y":826,"width":119,"height":6}},{"id":"747db5d7-e386-42b0-a060-71ddc54eba38","block_type":"box","text":"Derivatives","page_number":75,"box":{"x":522,"y":844,"width":58,"height":6}},{"id":"a5dd9a19-82e3-4bb8-9998-19a7f3b621ce","block_type":"box","text":"(42)","page_number":75,"box":{"x":708,"y":844,"width":19,"height":7}},{"id":"3c44a1dd-0ae8-4d40-84bc-836bad3771fb","block_type":"box","text":"(31)","page_number":75,"box":{"x":779,"y":844,"width":19,"height":7}},{"id":"6a7c3e77-0464-42b7-b128-7824d4d950fb","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":847,"width":6,"height":1}},{"id":"9d8cf354-198b-4fb3-922a-8d948d77d1ac","block_type":"box","text":"(73)","page_number":75,"box":{"x":921,"y":844,"width":20,"height":7}},{"id":"3fad273b-1819-4705-924b-eddd4cfa3e76","block_type":"box","text":"Total","page_number":75,"box":{"x":521,"y":861,"width":27,"height":6}},{"id":"12399350-c7f4-46a1-ad4a-493577e3e9c5","block_type":"box","text":"(42)","page_number":75,"box":{"x":707,"y":861,"width":20,"height":8}},{"id":"b08a19f2-4609-403f-abc4-d07097b5dea2","block_type":"box","text":"(31)","page_number":75,"box":{"x":779,"y":861,"width":19,"height":8}},{"id":"e1ed1b43-4f29-43e5-94bc-9bf4db0a1ee7","block_type":"box","text":"–","page_number":75,"box":{"x":860,"y":865,"width":6,"height":1}},{"id":"d7baf2b2-6cdd-441f-a7b0-137061f1d8eb","block_type":"box","text":"(73)","page_number":75,"box":{"x":921,"y":861,"width":20,"height":8}},{"id":"c4cdcc69-728c-48de-abea-389254fb03d7","block_type":"box","text":"Royal London GMAP Moderate Growth Fund | Royal London Multi-Asset Funds ICVC","page_number":75,"box":{"x":460,"y":33,"width":453,"height":8}},{"id":"43317a91-d783-449b-8b4a-3b06dcc77e02","block_type":"box","text":"75","page_number":75,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"ff26ba66-1ffd-436f-9e15-5105360401c2","block_type":"box","text":"Manager’s Investment Report","page_number":76,"box":{"x":58,"y":151,"width":352,"height":14}},{"id":"02c6d3af-8b0f-4b04-b3e1-8c0e9b3d2043","block_type":"box","text":"Cumulative Performance","page_number":76,"box":{"x":57,"y":181,"width":230,"height":9}},{"id":"1f0d6608-b4a5-4924-8c39-86e7a600aedc","block_type":"box","text":"(% change to 30/06/26)","page_number":76,"box":{"x":57,"y":203,"width":164,"height":10}},{"id":"2eae7130-7e1f-4c98-8d8f-d03856684562","block_type":"box","text":"6 month","page_number":76,"box":{"x":241,"y":231,"width":46,"height":6}},{"id":"c835563a-052e-450a-bca5-d8eb6ea146c6","block_type":"box","text":"total","page_number":76,"box":{"x":262,"y":241,"width":25,"height":6}},{"id":"46419843-7fe4-48cf-98f7-cef8f0d778d2","block_type":"box","text":"return","page_number":76,"box":{"x":253,"y":250,"width":34,"height":6}},{"id":"e603225b-ed96-48bf-8436-22fc4abdd507","block_type":"box","text":"%","page_number":76,"box":{"x":278,"y":260,"width":9,"height":6}},{"id":"b97415b5-a64d-4da9-ba6c-8d37fb5764d8","block_type":"box","text":"1 year","page_number":76,"box":{"x":315,"y":231,"width":33,"height":8}},{"id":"158f234e-67de-4301-a323-b7210843f6dc","block_type":"box","text":"total","page_number":76,"box":{"x":323,"y":241,"width":25,"height":6}},{"id":"b2bc5b48-59f3-4d7e-912d-07a01abd57cc","block_type":"box","text":"return","page_number":76,"box":{"x":314,"y":250,"width":34,"height":6}},{"id":"b86d7fd1-6422-4af2-afe3-a21fe49a0eb2","block_type":"box","text":"%","page_number":76,"box":{"x":338,"y":260,"width":10,"height":6}},{"id":"83ed0043-3e60-4156-9af0-47da356583c4","block_type":"box","text":"3 year","page_number":76,"box":{"x":375,"y":231,"width":34,"height":8}},{"id":"8b8d70b0-1716-4cc2-b503-a7a079eade43","block_type":"box","text":"total","page_number":76,"box":{"x":383,"y":241,"width":25,"height":6}},{"id":"69589ac0-eb53-4b1f-82e0-b1bad2615673","block_type":"box","text":"return","page_number":76,"box":{"x":374,"y":250,"width":34,"height":6}},{"id":"b9ed2fc8-bb33-4289-9b45-2f622cec3304","block_type":"box","text":"%","page_number":76,"box":{"x":399,"y":260,"width":9,"height":6}},{"id":"1e7fe832-5f07-4c38-830f-2e61297f30f2","block_type":"box","text":"5 year","page_number":76,"box":{"x":436,"y":231,"width":34,"height":8}},{"id":"bc4740da-4609-469e-8e0a-eecb0dd5ad3f","block_type":"box","text":"total","page_number":76,"box":{"x":444,"y":241,"width":25,"height":6}},{"id":"f51d133d-568a-4826-bcc0-0a05b39fff6b","block_type":"box","text":"return","page_number":76,"box":{"x":435,"y":250,"width":34,"height":6}},{"id":"c5a735ae-58d4-4534-af8c-c7841a3d806c","block_type":"box","text":"%","page_number":76,"box":{"x":460,"y":260,"width":9,"height":6}},{"id":"25d88415-2825-4d93-9453-669eb53ebff3","block_type":"box","text":"Royal London GMAP Extra","page_number":76,"box":{"x":58,"y":279,"width":143,"height":8}},{"id":"92792eae-d447-4b4d-8256-6267413cb673","block_type":"box","text":"Adventurous Fund,","page_number":76,"box":{"x":57,"y":289,"width":100,"height":7}},{"id":"dabe28ff-70cc-4b39-ab70-183584edf2fa","block_type":"box","text":"Class M","page_number":76,"box":{"x":57,"y":298,"width":42,"height":7}},{"id":"8bec4a92-7558-4edf-a610-2516c4c5777e","block_type":"box","text":"Accumulation","page_number":76,"box":{"x":103,"y":299,"width":72,"height":6}},{"id":"f400816d-bc46-458d-bdb5-647d34161646","block_type":"box","text":"–","page_number":76,"box":{"x":281,"y":283,"width":7,"height":1}},{"id":"8e69557b-2515-48f6-9661-cc4453b149d1","block_type":"box","text":"–","page_number":76,"box":{"x":342,"y":283,"width":6,"height":1}},{"id":"a4f96977-6667-4582-a319-239a00248e2d","block_type":"box","text":"–","page_number":76,"box":{"x":402,"y":283,"width":7,"height":1}},{"id":"d053b4e1-1548-48b9-aeb0-eb1da1a568de","block_type":"box","text":"–","page_number":76,"box":{"x":463,"y":283,"width":7,"height":1}},{"id":"eddf71e7-d147-4117-9fa7-7e36f2d95f91","block_type":"box","text":"Royal London GMAP Extra","page_number":76,"box":{"x":58,"y":318,"width":143,"height":8}},{"id":"eb68d70a-4450-498f-b482-1b787208d08e","block_type":"box","text":"Adventurous Fund,","page_number":76,"box":{"x":57,"y":328,"width":100,"height":7}},{"id":"e347c42c-f02f-4721-9283-91433fed004f","block_type":"box","text":"Class M","page_number":76,"box":{"x":57,"y":337,"width":42,"height":6}},{"id":"0aad5660-61ab-45fd-b9d4-448982869ced","block_type":"box","text":"Income","page_number":76,"box":{"x":104,"y":337,"width":38,"height":6}},{"id":"011a611d-4b11-4357-9581-2ce9deb1685a","block_type":"box","text":"–","page_number":76,"box":{"x":281,"y":322,"width":7,"height":0}},{"id":"d70cad6f-3f1b-4e9a-a217-1caaf810363a","block_type":"box","text":"–","page_number":76,"box":{"x":342,"y":322,"width":6,"height":0}},{"id":"e3965742-e209-404a-bd1a-16af6bb09f4e","block_type":"box","text":"–","page_number":76,"box":{"x":402,"y":322,"width":7,"height":0}},{"id":"869a458a-5d5d-459b-a07b-de9d89344063","block_type":"box","text":"–","page_number":76,"box":{"x":463,"y":322,"width":7,"height":0}},{"id":"e164fa9a-432e-4c19-998c-0e67ff73c979","block_type":"box","text":"Royal London GMAP Extra","page_number":76,"box":{"x":58,"y":357,"width":143,"height":7}},{"id":"b250ff68-04d3-428b-af37-6e562c4eb4c9","block_type":"box","text":"Adventurous Fund,","page_number":76,"box":{"x":57,"y":366,"width":100,"height":7}},{"id":"1fb967cb-b165-4a5d-9d3c-f711b9c76524","block_type":"box","text":"Class Z","page_number":76,"box":{"x":57,"y":376,"width":40,"height":6}},{"id":"1076a1f6-59a8-4531-830a-42f8535c63b8","block_type":"box","text":"Accumulation","page_number":76,"box":{"x":101,"y":376,"width":71,"height":6}},{"id":"86c33759-724f-4791-8a10-f7e2590cedf1","block_type":"box","text":"–","page_number":76,"box":{"x":281,"y":360,"width":7,"height":1}},{"id":"ad191e09-7257-4fef-bc0a-281af84c929f","block_type":"box","text":"–","page_number":76,"box":{"x":342,"y":360,"width":6,"height":1}},{"id":"c50b76e8-5f8d-4f27-a6e5-ccba125eb192","block_type":"box","text":"–","page_number":76,"box":{"x":402,"y":360,"width":7,"height":1}},{"id":"6e378064-6623-480c-906d-b16cc588a2ca","block_type":"box","text":"–","page_number":76,"box":{"x":463,"y":360,"width":7,"height":1}},{"id":"0dd5ddcb-7ff5-4ab2-8a4d-a5cc6707cc4a","block_type":"box","text":"IA Mixed Investment 40–85%","page_number":76,"box":{"x":58,"y":395,"width":155,"height":6}},{"id":"e7334d38-cec4-45a2-ab40-75b4f48518ae","block_type":"box","text":"Shares Total Return (TR)*","page_number":76,"box":{"x":57,"y":405,"width":138,"height":7}},{"id":"cbd35787-c880-42da-ae86-2adbcad15b0d","block_type":"box","text":"7.21","page_number":76,"box":{"x":266,"y":395,"width":19,"height":6}},{"id":"03d7bd94-f868-4739-8ac0-0d3264236894","block_type":"box","text":"16.61","page_number":76,"box":{"x":320,"y":395,"width":26,"height":6}},{"id":"f8e8a8ce-3913-496a-889e-f776d8510363","block_type":"box","text":"37.51","page_number":76,"box":{"x":381,"y":395,"width":26,"height":6}},{"id":"77443f3c-6c95-4c8c-9318-c607322c3e39","block_type":"box","text":"31.90","page_number":76,"box":{"x":441,"y":395,"width":28,"height":6}},{"id":"518cfa46-4dec-4efe-813d-0a5a262bea48","block_type":"box","text":"* Benchmark","page_number":76,"box":{"x":57,"y":432,"width":69,"height":7}},{"id":"dfdd6a51-4989-474c-afa1-64c1d49911b0","block_type":"box","text":"The Fund launched on 9 January 2026.","page_number":76,"box":{"x":57,"y":446,"width":208,"height":8}},{"id":"332b7b6c-aec7-4995-bc77-868872396d42","block_type":"box","text":"Past performance is not necessarily a reliable indicator","page_number":76,"box":{"x":58,"y":466,"width":420,"height":10}},{"id":"bdf835e3-e107-4849-8528-4eee5961612a","block_type":"box","text":"of future performance. The value of investments and the","page_number":76,"box":{"x":57,"y":480,"width":420,"height":10}},{"id":"969d336e-6b61-4209-a9a4-e09a4d649b40","block_type":"box","text":"income from them is not guaranteed and may go down","page_number":76,"box":{"x":58,"y":494,"width":419,"height":10}},{"id":"559a93ac-eea0-4233-889a-b9bc652db304","block_type":"box","text":"as well as up and investors may not get back the amount","page_number":76,"box":{"x":57,"y":509,"width":421,"height":9}},{"id":"8bc00d28-00c3-4936-8b7b-88e0e7f86606","block_type":"box","text":"originally invested.","page_number":76,"box":{"x":57,"y":523,"width":138,"height":10}},{"id":"49ba5e25-f81f-4c4f-8310-38674a3acd38","block_type":"box","text":"Source: Royal London Asset Management Limited and","page_number":76,"box":{"x":57,"y":544,"width":420,"height":10}},{"id":"9813f551-06fb-4a23-b4ba-24b1635cefbf","block_type":"box","text":"Morningstar, as at 30","page_number":76,"box":{"x":58,"y":558,"width":165,"height":10}},{"id":"6ee77416-5c81-4a8c-afc8-31fc52dd641b","block_type":"box","text":"June 2026. Returns are net of","page_number":76,"box":{"x":237,"y":558,"width":242,"height":8}},{"id":"edbbee1e-1d08-4179-b46c-86fde6fc725c","block_type":"box","text":"management fees. Investors should also note that the total","page_number":76,"box":{"x":58,"y":572,"width":419,"height":10}},{"id":"9108c697-8df1-460e-896b-3acec6aa423d","block_type":"box","text":"return is calculated on the Fund’s official 2pm price whereas the","page_number":76,"box":{"x":58,"y":586,"width":419,"height":10}},{"id":"333128f7-f495-49ef-9393-84deb81d76d7","block_type":"box","text":"Fund has been valued as at close of business for the Closing","page_number":76,"box":{"x":58,"y":601,"width":419,"height":10}},{"id":"49a1aee8-286a-4f6b-9446-6b3b0b14bff0","block_type":"box","text":"Net Asset Value quoted within the Comparative Table. For","page_number":76,"box":{"x":58,"y":615,"width":420,"height":10}},{"id":"62b4e8b2-d7e7-4481-bdb3-938f48afe665","block_type":"box","text":"further information, including ongoing performance and Fund","page_number":76,"box":{"x":57,"y":629,"width":420,"height":10}},{"id":"01a115a6-eef4-417c-8786-649735b0faab","block_type":"box","text":"breakdown information, please refer to the latest factsheet at","page_number":76,"box":{"x":58,"y":643,"width":420,"height":10}},{"id":"f0a8e1a5-8cd0-4a30-8991-6216564c9480","block_type":"box","text":"www.rlam.com.","page_number":76,"box":{"x":57,"y":658,"width":103,"height":8}},{"id":"259decb2-75c3-4f66-bde9-9aeff15a4ec1","block_type":"box","text":"Fund objective","page_number":76,"box":{"x":58,"y":685,"width":135,"height":11}},{"id":"a467fa76-0cc9-492d-a369-243f012cdc1a","block_type":"box","text":"The Fund aims to achieve capital growth over rolling 5-year","page_number":76,"box":{"x":57,"y":703,"width":421,"height":10}},{"id":"559b6e50-32ca-4172-b0cf-5eb6f71c49e8","block_type":"box","text":"periods, after the deduction of charges. The Fund forms part of","page_number":76,"box":{"x":58,"y":717,"width":421,"height":10}},{"id":"1c61b34d-b838-4ff2-96c1-2031d33abee4","block_type":"box","text":"the Royal London Global Multi-Asset Portfolio (“GMAP”) range","page_number":76,"box":{"x":57,"y":732,"width":420,"height":10}},{"id":"b389262b-3092-4039-bbda-2c1b94f8b498","block_type":"box","text":"and aims to achieve a high level of risk and return relative to","page_number":76,"box":{"x":57,"y":746,"width":421,"height":10}},{"id":"f8de3f01-76ae-407b-8695-0a46b9cf5836","block_type":"box","text":"other funds in the GMAP range as further described in the","page_number":76,"box":{"x":57,"y":760,"width":420,"height":10}},{"id":"6a43902c-385a-4ca6-afcc-9da19c0fcfaa","block_type":"box","text":"investment strategy. The performance comparator for the Fund","page_number":76,"box":{"x":58,"y":774,"width":419,"height":10}},{"id":"48313cae-12bc-4161-a1a7-d85afd3e62ba","block_type":"box","text":"is the IA","page_number":76,"box":{"x":58,"y":789,"width":52,"height":7}},{"id":"501c73af-eef5-438b-a217-2b3b27959c8a","block_type":"box","text":"Mixed Investment 40–85% Shares sector (“IA","page_number":76,"box":{"x":114,"y":789,"width":302,"height":10}},{"id":"61adb429-110f-4936-a8e6-ff9bbef470ba","block_type":"box","text":"Sector”).","page_number":76,"box":{"x":419,"y":789,"width":58,"height":10}},{"id":"4cd469de-86c1-4350-b975-2d4ab045d794","block_type":"box","text":"Funds in the IA Sector must invest between 40% and 85% of their","page_number":76,"box":{"x":58,"y":803,"width":420,"height":8}},{"id":"e7772026-c59c-40d7-bdd0-d3ffdf52d5b0","block_type":"box","text":"assets in shares. The Fund’s assets are generally consistent","page_number":76,"box":{"x":57,"y":817,"width":421,"height":10}},{"id":"ea814ac1-2103-4f43-bd38-4c61319be6e2","block_type":"box","text":"with these investment parameters therefore the IA","page_number":76,"box":{"x":57,"y":831,"width":368,"height":10}},{"id":"e4e2e81e-22dc-42ff-af48-c53abaf05dc3","block_type":"box","text":"Sector","page_number":76,"box":{"x":434,"y":831,"width":44,"height":8}},{"id":"adbfdedf-89a4-4c2a-95a8-43c2bd12b8e9","block_type":"box","text":"is considered appropriate as a performance comparator.","page_number":76,"box":{"x":58,"y":846,"width":419,"height":9}},{"id":"3136559a-64cf-4bd9-9f6b-5b4f2b263d5e","block_type":"box","text":"Management of the Fund is not restricted by the use of the","page_number":76,"box":{"x":58,"y":860,"width":419,"height":10}},{"id":"30b6be7d-5a4a-4b71-97ef-2d564248e442","block_type":"box","text":"IA","page_number":76,"box":{"x":58,"y":874,"width":13,"height":8}},{"id":"47039bf2-0c13-4ae0-9baf-86973f94a380","block_type":"box","text":"Sector as a performance comparator. If the Fund’s exposure","page_number":76,"box":{"x":76,"y":874,"width":401,"height":10}},{"id":"7e97e8e2-9a01-4820-8401-cd1da775f48b","block_type":"box","text":"to shares no longer meets the requirements of the IA Sector,","page_number":76,"box":{"x":57,"y":888,"width":420,"height":10}},{"id":"47fc8a62-d2cc-4167-a608-32070826e95f","block_type":"box","text":"the ACD will consider an alternative comparator benchmark.","page_number":76,"box":{"x":57,"y":903,"width":406,"height":9}},{"id":"4029d6d6-60d3-49df-a1c0-bc3292abdf2c","block_type":"box","text":"Performance overview","page_number":76,"box":{"x":522,"y":151,"width":209,"height":9}},{"id":"2e2002dc-430f-46dc-ba5a-e05e61dc01d5","block_type":"box","text":"The Fund was launched in early January 2026 and there is","page_number":76,"box":{"x":521,"y":169,"width":421,"height":10}},{"id":"39bff496-6d3b-49fb-abc9-e3e05ca877cf","block_type":"box","text":"therefore no six-month record available.","page_number":76,"box":{"x":521,"y":184,"width":268,"height":8}},{"id":"bea501da-c165-45a0-b7b3-7013adc772f8","block_type":"box","text":"Market overview","page_number":76,"box":{"x":522,"y":211,"width":154,"height":8}},{"id":"714f0988-9c48-4e5d-878d-791adf697f04","block_type":"box","text":"Geopolitical tensions in the Middle East were a key driver of","page_number":76,"box":{"x":522,"y":229,"width":421,"height":10}},{"id":"3df0ecda-f8b3-422d-9685-4a97d1b354e3","block_type":"box","text":"markets over the period, which saw commodities rise materially","page_number":76,"box":{"x":522,"y":243,"width":420,"height":10}},{"id":"b48fd5d2-3cc5-4515-8edf-b8d7b73b7ba1","block_type":"box","text":"over the start of the year. Despite this, global equity markets","page_number":76,"box":{"x":521,"y":257,"width":421,"height":10}},{"id":"c0c18ea5-efed-4a8f-a9ce-7b3f00e15294","block_type":"box","text":"performed well over the period, with euphoria around Artificial","page_number":76,"box":{"x":522,"y":272,"width":419,"height":10}},{"id":"e6f439e3-696f-4413-9b3c-7d84fcb8a7ad","block_type":"box","text":"Intelligence (AI) once again boosting investor sentiment.","page_number":76,"box":{"x":522,"y":286,"width":419,"height":10}},{"id":"2ff838b9-a141-4ab4-907e-51966afaca56","block_type":"box","text":"Semiconductor companies, which are at the heart of the AI","page_number":76,"box":{"x":522,"y":300,"width":419,"height":10}},{"id":"00db286f-8496-42e9-8093-ad4e463860eb","block_type":"box","text":"infrastructure buildout, were beneficiaries, rising sharply.","page_number":76,"box":{"x":522,"y":314,"width":419,"height":10}},{"id":"6ee7617e-42f0-4b7b-a0f5-588c09899612","block_type":"box","text":"Bond yields ended the period higher, as rising inflation risk","page_number":76,"box":{"x":522,"y":329,"width":420,"height":10}},{"id":"336344cf-2b32-4744-badb-83cf0ed77ffd","block_type":"box","text":"saw markets moved to price in interest rate hikes from global","page_number":76,"box":{"x":521,"y":343,"width":420,"height":10}},{"id":"86c86f8e-70b7-428d-b5ac-703cd0e8d20f","block_type":"box","text":"central banks.","page_number":76,"box":{"x":522,"y":357,"width":93,"height":8}},{"id":"5dd6babc-4959-4bb2-981f-4ff2fc4f12cf","block_type":"box","text":"Portfolio commentary","page_number":76,"box":{"x":522,"y":384,"width":202,"height":11}},{"id":"453077c5-f598-42e5-8c2d-8420a32a4561","block_type":"box","text":"Having begun the year with a tactically overweight position in","page_number":76,"box":{"x":522,"y":403,"width":419,"height":10}},{"id":"97d99770-3f10-4dae-bb30-708a5959aeab","block_type":"box","text":"equities, the Fund moved to a more defensive position towards","page_number":76,"box":{"x":521,"y":417,"width":421,"height":10}},{"id":"9f74afad-e347-4f42-b3f8-b6fefc8aca32","block_type":"box","text":"the end of the first quarter, noting the sharp rise of uncertainty","page_number":76,"box":{"x":521,"y":431,"width":421,"height":10}},{"id":"724ab27a-165a-4f39-8ef5-6a15a66c9376","block_type":"box","text":"which accompanied the onset of the war between US and Iran.","page_number":76,"box":{"x":521,"y":445,"width":420,"height":10}},{"id":"5cc827ab-c273-4e0f-a575-a930eaa3df8f","block_type":"box","text":"This saw the Fund move to a tactically underweight position","page_number":76,"box":{"x":521,"y":460,"width":420,"height":10}},{"id":"882aed0e-0e83-4765-8951-cdd9fa5e3a9f","block_type":"box","text":"heading into the Spring. The Fund shortly added back to","page_number":76,"box":{"x":522,"y":474,"width":420,"height":10}},{"id":"09c9ce34-6acb-466c-be23-cabd38432faf","block_type":"box","text":"equities at the lower levels, as investor sentiment started to","page_number":76,"box":{"x":521,"y":488,"width":421,"height":10}},{"id":"f49c9ae2-a726-47e5-a5ba-acb4999e731a","block_type":"box","text":"improve from oversold levels on renewed AI enthusiasm.","page_number":76,"box":{"x":522,"y":502,"width":380,"height":10}},{"id":"ca9d6732-c8c9-4c9e-8c2c-c992b8689763","block_type":"box","text":"At the regional level, tactical positioning has mostly been","page_number":76,"box":{"x":521,"y":523,"width":420,"height":10}},{"id":"18e0d0c6-7231-45be-b1d8-055b85b8321d","block_type":"box","text":"overweight Japan, the US and emerging markets supported","page_number":76,"box":{"x":521,"y":538,"width":420,"height":10}},{"id":"e7910ae9-2cb0-4ec5-bf3a-6168f0bb3ff1","block_type":"box","text":"by strong earnings and the enthusiasm around AI stocks.","page_number":76,"box":{"x":522,"y":552,"width":419,"height":10}},{"id":"d2778c84-29b9-4bff-938a-a4eaacc6ab27","block_type":"box","text":"The Fund has also remained tactically underweight Europe","page_number":76,"box":{"x":521,"y":566,"width":421,"height":10}},{"id":"f84493a7-f7fa-41d6-9c90-6f6738839d1a","block_type":"box","text":"throughout most of the period as earnings continued to be","page_number":76,"box":{"x":521,"y":580,"width":421,"height":10}},{"id":"dddb482b-c688-46c6-b154-7cfd13abfe27","block_type":"box","text":"lacklustre and the region suffered with its greater sensitivity to","page_number":76,"box":{"x":522,"y":595,"width":420,"height":10}},{"id":"c4a1b415-ffad-4551-a29a-1ab6d3683ab2","block_type":"box","text":"the higher energy prices.","page_number":76,"box":{"x":521,"y":609,"width":167,"height":10}},{"id":"a9b357fc-998a-4e86-bae7-99eef99baa52","block_type":"box","text":"Elsewhere, our strategic allocation to commodities proved","page_number":76,"box":{"x":522,"y":630,"width":419,"height":10}},{"id":"f24bc54d-8fea-4799-8060-306e12a895f1","block_type":"box","text":"beneficial particularly in the early months of 2026, as the","page_number":76,"box":{"x":522,"y":644,"width":420,"height":10}},{"id":"95a3136f-987f-4e6e-812f-104b1ace19dd","block_type":"box","text":"asset class surged over the quarter as escalating geopolitical","page_number":76,"box":{"x":521,"y":658,"width":420,"height":10}},{"id":"e5b64a78-eb88-42bd-b97c-244b47a6f21d","block_type":"box","text":"tensions culminated in direct military conflict with Iran. Brent","page_number":76,"box":{"x":521,"y":673,"width":421,"height":10}},{"id":"2b8c1fca-40a4-4a80-90ef-e49748a8bd41","block_type":"box","text":"crude recorded its largest quarterly gain since the Gulf War in","page_number":76,"box":{"x":522,"y":687,"width":419,"height":10}},{"id":"ed2be324-819a-45b3-a21f-8d5aa51250ee","block_type":"box","text":"1990 (+94%).","page_number":76,"box":{"x":523,"y":701,"width":87,"height":10}},{"id":"5e3ce7d3-3511-4119-ac33-3fd9ccb4a5e2","block_type":"box","text":"Gold had been held as a separate tactical position heading","page_number":76,"box":{"x":522,"y":722,"width":419,"height":10}},{"id":"3e3b57a7-f2c9-4e30-97b4-93985f2dc171","block_type":"box","text":"into the year before being fully removed towards the end of","page_number":76,"box":{"x":522,"y":736,"width":421,"height":10}},{"id":"2b1ce4c5-c987-473d-b64a-44e910a38cc2","block_type":"box","text":"March. The position had continued to add value in the Fund,","page_number":76,"box":{"x":522,"y":751,"width":419,"height":10}},{"id":"4870879e-a433-4237-9de8-8cfb3bfec72f","block_type":"box","text":"benefitting last year from a backdrop of elevated risks around","page_number":76,"box":{"x":522,"y":765,"width":419,"height":10}},{"id":"8998b6e2-ee6c-4d81-a256-a01226e20007","block_type":"box","text":"geopolitics and US policy.","page_number":76,"box":{"x":521,"y":779,"width":173,"height":10}},{"id":"2b7e8f02-1df7-4b3f-97e3-b67a230ce2d9","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund","page_number":76,"box":{"x":59,"y":94,"width":655,"height":17}},{"id":"ac21c209-057d-41cd-8879-c44bbd164b50","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":76,"box":{"x":454,"y":33,"width":459,"height":8}},{"id":"e557c20d-ef86-452b-8445-7e4db62017db","block_type":"box","text":"76","page_number":76,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"f6290d9c-9b59-4e51-9de5-45233661fb3e","block_type":"box","text":"Investment outlook","page_number":77,"box":{"x":58,"y":151,"width":179,"height":9}},{"id":"10e05d55-73f0-4f4c-814d-4ac497ddc38c","block_type":"box","text":"The Investment Clock is in Stagflation, reflecting the high oil","page_number":77,"box":{"x":57,"y":169,"width":420,"height":10}},{"id":"5074d9ad-dfe9-40ce-b5b5-8db500cb1d87","block_type":"box","text":"price and weaker business surveys amid the still uncertain US","page_number":77,"box":{"x":58,"y":184,"width":420,"height":10}},{"id":"d4cb98fc-0908-4921-a84c-d05c34c7603a","block_type":"box","text":"Iran conflict.","page_number":77,"box":{"x":58,"y":198,"width":81,"height":8}},{"id":"28def3ab-754d-4365-873c-50bc760b7d23","block_type":"box","text":"Energy prices retreated last quarter on signs of a fragile","page_number":77,"box":{"x":58,"y":219,"width":419,"height":10}},{"id":"56468272-50db-4919-9ffd-c45e9b2c5ac7","block_type":"box","text":"peace deal, but tensions have since risen again. Commodities","page_number":77,"box":{"x":58,"y":233,"width":420,"height":10}},{"id":"c70d7801-b3aa-4dcf-b28b-355945d56945","block_type":"box","text":"remain a good hedge against a renewed flare up in geopolitical","page_number":77,"box":{"x":58,"y":247,"width":419,"height":10}},{"id":"9b8a2bd6-d1d2-4de9-9df9-1865446d70d8","block_type":"box","text":"tensions and spikes in inflation.","page_number":77,"box":{"x":57,"y":262,"width":210,"height":10}},{"id":"ebbcf098-e235-4b8f-a3d5-a69532e8402a","block_type":"box","text":"The AI boom is raising corporate earnings of technology","page_number":77,"box":{"x":57,"y":283,"width":421,"height":10}},{"id":"328daa6b-05ce-444e-8675-3fa946f57ca3","block_type":"box","text":"stocks. Cycle-adjusted valuations are near dot com era levels.","page_number":77,"box":{"x":57,"y":297,"width":420,"height":10}},{"id":"bdd8fcd2-a31d-45ce-855f-a23a41c1ad84","block_type":"box","text":"Innovation waves often get overblown in financial markets,","page_number":77,"box":{"x":58,"y":311,"width":419,"height":10}},{"id":"ee7818bc-f6e7-4676-a7de-2a7b08acc0bc","block_type":"box","text":"even when their long-term impact is transformative.","page_number":77,"box":{"x":57,"y":325,"width":345,"height":10}},{"id":"6b892d6b-a814-4016-8c3e-9a93a6c02f97","block_type":"box","text":"Tactically, we maintain a moderate overweight position in","page_number":77,"box":{"x":57,"y":346,"width":420,"height":10}},{"id":"24e58080-b619-4ef1-9a2d-efbb7875c5ee","block_type":"box","text":"equities and underweight position in government bonds.","page_number":77,"box":{"x":57,"y":361,"width":377,"height":10}},{"id":"152c86e6-f652-43bf-9bd8-d33ac15c673e","block_type":"box","text":"Please see our Investment Clock blog at www.rlam.com for our","page_number":77,"box":{"x":58,"y":382,"width":420,"height":10}},{"id":"ba8d9f9d-ef13-4e2d-af38-d9a56c6d044b","block_type":"box","text":"latest views.","page_number":77,"box":{"x":58,"y":396,"width":80,"height":8}},{"id":"531078b4-a6ef-444a-bf15-bb938eca26d0","block_type":"box","text":"Trevor Greetham","page_number":77,"box":{"x":57,"y":438,"width":121,"height":8}},{"id":"cb5432a5-ad8f-4948-915c-227075946f26","block_type":"box","text":"Fund Manager","page_number":77,"box":{"x":58,"y":452,"width":103,"height":10}},{"id":"9b43b846-27f8-474e-a522-e949d6bdaecf","block_type":"box","text":"Royal London Asset Management Limited","page_number":77,"box":{"x":58,"y":466,"width":303,"height":10}},{"id":"eff5a4d1-4381-4938-8e75-021694331721","block_type":"box","text":"30","page_number":77,"box":{"x":57,"y":481,"width":16,"height":7}},{"id":"4a449231-2e49-4153-b01b-bebec5dac2aa","block_type":"box","text":"June 2026","page_number":77,"box":{"x":78,"y":481,"width":73,"height":7}},{"id":"a0551bfe-c9e8-44a2-b1c7-680a21114027","block_type":"box","text":"Please note that this commentary is written as at end of the","page_number":77,"box":{"x":58,"y":515,"width":419,"height":10}},{"id":"a9ef2eb0-2961-4ee1-bd96-41b6a3aa4638","block_type":"box","text":"review period. For insights into market events or positioning","page_number":77,"box":{"x":58,"y":528,"width":419,"height":10}},{"id":"53c60ce0-379f-4a18-b050-c4d09b09cc2a","block_type":"box","text":"since then, please go to www.rlam.com.","page_number":77,"box":{"x":57,"y":541,"width":270,"height":10}},{"id":"4086d877-56ed-4649-a6d8-509062cf5482","block_type":"box","text":"This report covers investment performance, activity and","page_number":77,"box":{"x":57,"y":557,"width":420,"height":10}},{"id":"1cedf5bf-e0da-48ae-861a-781ee6bee3fd","block_type":"box","text":"outlook. For a wider look at the Fund, our Annual Assessment","page_number":77,"box":{"x":57,"y":570,"width":421,"height":10}},{"id":"4d1a0960-8fdd-4a0f-bea8-e91fd80fc81d","block_type":"box","text":"of Value report is available at www.rlam.com.","page_number":77,"box":{"x":57,"y":583,"width":305,"height":10}},{"id":"8f0e681e-500c-4e09-b717-9b72bce26c8d","block_type":"box","text":"For further help on some of the terms used, please see our","page_number":77,"box":{"x":58,"y":600,"width":420,"height":10}},{"id":"cf42b4ee-28b7-4848-8b10-965eabf9299f","block_type":"box","text":"glossary at www.rlam.com/uk/individual-investors/glossary.","page_number":77,"box":{"x":57,"y":613,"width":400,"height":10}},{"id":"109e1a88-4069-4056-83ec-21b253531431","block_type":"box","text":"The Task Force on Climate-related Financial Disclosures","page_number":77,"box":{"x":57,"y":629,"width":420,"height":8}},{"id":"13d01a30-38ef-4e79-9d43-28894823dd28","block_type":"box","text":"(TCFD) Report can be found under the relevant Fund","page_number":77,"box":{"x":58,"y":642,"width":419,"height":10}},{"id":"9ec2a071-d8d5-41d6-850d-902a4e5f9819","block_type":"box","text":"name at","page_number":77,"box":{"x":58,"y":656,"width":81,"height":7}},{"id":"1f6f615a-fb0b-45e4-81a9-fe75320a51bd","block_type":"box","text":"https://www.rlam.com/uk/individual-investors/","page_number":77,"box":{"x":172,"y":655,"width":306,"height":10}},{"id":"efd13cfd-2ad1-4178-8b11-4edc6197cb81","block_type":"box","text":"funds","page_number":77,"box":{"x":57,"y":668,"width":36,"height":8}},{"id":"bd22a4bd-b51b-40fe-962d-1702dcb39d59","block_type":"box","text":".","page_number":77,"box":{"x":95,"y":675,"width":2,"height":1}},{"id":"fadc3868-169f-4129-aa4d-d50af83d318c","block_type":"box","text":"This report has been prepared in accordance with","page_number":77,"box":{"x":108,"y":669,"width":369,"height":9}},{"id":"5b54bcf8-fea4-43a3-aa88-a99638843c59","block_type":"box","text":"the recommendations of the TCFD, which aims to help the","page_number":77,"box":{"x":57,"y":682,"width":420,"height":9}},{"id":"9870dce2-2911-43c7-a430-994ee770af05","block_type":"box","text":"investment community build a more in-depth and consistent","page_number":77,"box":{"x":58,"y":695,"width":420,"height":10}},{"id":"ca8573aa-a1ca-4918-8b16-bb43ab364239","block_type":"box","text":"picture of the impact of climate change. A copy of Royal","page_number":77,"box":{"x":58,"y":708,"width":419,"height":10}},{"id":"330b20ef-6568-41fb-b1d0-f1a1314eab49","block_type":"box","text":"London Asset Management Limited’s annual TCFD Report","page_number":77,"box":{"x":58,"y":721,"width":420,"height":10}},{"id":"9a97e82d-6b55-471f-8d85-f3cb328132a6","block_type":"box","text":"can also be found on our website.","page_number":77,"box":{"x":57,"y":734,"width":228,"height":8}},{"id":"c59b5bde-8731-4025-b72d-a5219b55035b","block_type":"box","text":"The views expressed are the author’s own and do not","page_number":77,"box":{"x":57,"y":750,"width":421,"height":10}},{"id":"ff32d8c4-8728-450a-ab40-01ccbd44f07e","block_type":"box","text":"constitute investment advice and are not an indication","page_number":77,"box":{"x":57,"y":763,"width":420,"height":8}},{"id":"8917c69a-e8e5-4fed-9c0f-711ccf176a60","block_type":"box","text":"of future Fund performance. Portfolio holdings are","page_number":77,"box":{"x":57,"y":776,"width":420,"height":10}},{"id":"b8f5a7ac-090e-4a3f-807d-cfa2d28e8955","block_type":"box","text":"subject to change, for information only and are not","page_number":77,"box":{"x":57,"y":789,"width":421,"height":10}},{"id":"be77b1e4-8a51-4891-9798-7dbe00869936","block_type":"box","text":"investment recommendations.","page_number":77,"box":{"x":58,"y":803,"width":201,"height":7}},{"id":"f43f00ce-52d6-41ab-8402-92dc53c6442e","block_type":"box","text":"Source: Royal London Asset Management Limited, unless","page_number":77,"box":{"x":57,"y":819,"width":393,"height":10}},{"id":"0d3a035e-4134-4216-8b5a-6ab3f8eb1a61","block_type":"box","text":"otherwise stated.","page_number":77,"box":{"x":57,"y":832,"width":115,"height":8}},{"id":"a51c0c0b-7fe7-425d-9714-e995ab8fda66","block_type":"box","text":"Manager’s Investment Report","page_number":77,"box":{"x":58,"y":94,"width":352,"height":14}},{"id":"e76872f2-55bb-471f-b61b-8813eba3c996","block_type":"box","text":"(continued)","page_number":77,"box":{"x":415,"y":97,"width":75,"height":10}},{"id":"eca64f58-f21a-454d-8a61-e75a86c77cdb","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":77,"box":{"x":454,"y":33,"width":459,"height":8}},{"id":"605d7976-e26e-4404-8c3f-c15ab3409292","block_type":"box","text":"77","page_number":77,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"e1309bd6-c802-4bfd-87f4-00fb945bc3e1","block_type":"box","text":"Class M Accumulation","page_number":78,"box":{"x":57,"y":151,"width":206,"height":9}},{"id":"4369ca44-7cd7-4546-b628-012e04df4d20","block_type":"box","text":"30/06/26**","page_number":78,"box":{"x":416,"y":177,"width":57,"height":6}},{"id":"d82455d2-baa2-4108-b4fe-13f94184f3a8","block_type":"box","text":"Change in net assets per share","page_number":78,"box":{"x":57,"y":186,"width":178,"height":8}},{"id":"e2b5de62-2b5c-42bf-a505-798b17ca629f","block_type":"box","text":"(p)","page_number":78,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"9a0e2806-c396-4f84-b3c9-a9e97d6d35a9","block_type":"box","text":"Opening net asset value per share","page_number":78,"box":{"x":57,"y":205,"width":183,"height":8}},{"id":"c32476fd-7680-4b68-9312-d6b95b117488","block_type":"box","text":"100.00","page_number":78,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"e218cdf7-b266-4973-8797-33d304c06f9d","block_type":"box","text":"Return before operating charges*","page_number":78,"box":{"x":58,"y":222,"width":176,"height":8}},{"id":"030f17bf-2e2b-41ed-a2f6-7316e3c8c7b4","block_type":"box","text":"8.97","page_number":78,"box":{"x":450,"y":222,"width":23,"height":6}},{"id":"9f55b821-e4ae-4c4a-a5da-130c6e250df0","block_type":"box","text":"Operating charges","page_number":78,"box":{"x":57,"y":240,"width":99,"height":8}},{"id":"940b78f1-4a72-418a-b96a-3bb280d040f9","block_type":"box","text":"(0.28)","page_number":78,"box":{"x":447,"y":240,"width":30,"height":8}},{"id":"b88cee4a-63a9-4964-8eb8-c669d316c3f3","block_type":"box","text":"Return after operating charges*","page_number":78,"box":{"x":58,"y":257,"width":167,"height":8}},{"id":"700b7e9b-b686-4557-bfaf-9b81a51faff1","block_type":"box","text":"8.69","page_number":78,"box":{"x":450,"y":257,"width":23,"height":6}},{"id":"8615dcca-7306-4dde-b6d1-9a76cb40211a","block_type":"box","text":"Distributions on accumulation shares","page_number":78,"box":{"x":58,"y":275,"width":196,"height":6}},{"id":"df5b174c-01af-48d6-bccc-3c1fe6b4ab8e","block_type":"box","text":"(0.11)","page_number":78,"box":{"x":449,"y":275,"width":28,"height":8}},{"id":"1942eebf-550c-4e17-a26e-c3adc20179ee","block_type":"box","text":"Retained distributions on","page_number":78,"box":{"x":58,"y":292,"width":131,"height":6}},{"id":"99cb310d-71d2-44c7-8264-a6cd31335c08","block_type":"box","text":"accumulation shares","page_number":78,"box":{"x":57,"y":302,"width":110,"height":6}},{"id":"fb86e42b-1ca1-48cf-bdcd-cc501c98a542","block_type":"box","text":"0.11","page_number":78,"box":{"x":452,"y":292,"width":19,"height":6}},{"id":"f3fb1603-df37-4728-a238-b3809cae7f1d","block_type":"box","text":"Closing net asset value per share","page_number":78,"box":{"x":57,"y":319,"width":191,"height":8}},{"id":"a7aa6d69-57c2-4fbb-94cc-16fa71575fa8","block_type":"box","text":"108.69","page_number":78,"box":{"x":437,"y":319,"width":36,"height":6}},{"id":"7cda8c1d-16c6-49bd-a69e-f359dc4514e1","block_type":"box","text":"* after direct transaction costs of:","page_number":78,"box":{"x":57,"y":337,"width":175,"height":7}},{"id":"5cff02c8-5597-499d-9bcd-5314b2d7219b","block_type":"box","text":"0.01","page_number":78,"box":{"x":451,"y":338,"width":20,"height":6}},{"id":"9bae48fe-dd96-491a-b1fe-824f20e79979","block_type":"box","text":"Performance","page_number":78,"box":{"x":58,"y":353,"width":73,"height":6}},{"id":"07fd4f61-db94-4967-ac7f-facada763821","block_type":"box","text":"Return after charges","page_number":78,"box":{"x":58,"y":363,"width":108,"height":7}},{"id":"38573d4c-83e9-40cb-ab50-4bcb3cf8b792","block_type":"box","text":"8.69%","page_number":78,"box":{"x":440,"y":363,"width":33,"height":6}},{"id":"e1f5fbaa-cdb9-43a5-a0ee-82d821d6b661","block_type":"box","text":"Other information","page_number":78,"box":{"x":57,"y":381,"width":102,"height":6}},{"id":"54c59aa0-cf38-469b-9558-c192a17e4fef","block_type":"box","text":"Closing net asset value (£’000)","page_number":78,"box":{"x":57,"y":390,"width":165,"height":8}},{"id":"39191d8d-5d25-41d3-a803-fc893b8ae339","block_type":"box","text":"8","page_number":78,"box":{"x":467,"y":390,"width":6,"height":6}},{"id":"9b1c73d3-8acf-47cc-871e-d0bf2ab0d744","block_type":"box","text":"Closing number of shares","page_number":78,"box":{"x":57,"y":400,"width":136,"height":8}},{"id":"ae7a9e1a-5a97-4b70-a1cf-8b5eb4b3ac31","block_type":"box","text":"7,790","page_number":78,"box":{"x":447,"y":400,"width":26,"height":7}},{"id":"f9390cdd-a3af-4fac-9ce3-5a5f32bddc17","block_type":"box","text":"Operating charges","page_number":78,"box":{"x":57,"y":410,"width":99,"height":8}},{"id":"d0af6d5e-1a21-4787-9d0e-8f1f6f0d6d4f","block_type":"box","text":"0.60%","page_number":78,"box":{"x":440,"y":410,"width":33,"height":7}},{"id":"1960e1a6-016d-4d48-9cd0-239c86321e6f","block_type":"box","text":"Direct transaction costs","page_number":78,"box":{"x":58,"y":420,"width":125,"height":7}},{"id":"039452d3-1fee-4eaf-96ee-9e3edb8b7bee","block_type":"box","text":"0.01%","page_number":78,"box":{"x":441,"y":420,"width":32,"height":7}},{"id":"98e3424d-de27-4ba8-be45-844a64fec0df","block_type":"box","text":"Prices","page_number":78,"box":{"x":58,"y":438,"width":35,"height":7}},{"id":"fa3adf74-a5f7-4acf-9992-6b995bd7f624","block_type":"box","text":"^","page_number":78,"box":{"x":94,"y":438,"width":3,"height":2}},{"id":"57dd72f9-343e-416b-8d1b-b9f8fe7867a5","block_type":"box","text":"Highest share price","page_number":78,"box":{"x":58,"y":448,"width":102,"height":8}},{"id":"3de14f20-51fb-4b56-bb36-5c596055317f","block_type":"box","text":"109.60","page_number":78,"box":{"x":438,"y":448,"width":35,"height":6}},{"id":"b61822e2-30d0-4d18-adda-94d4194e7d18","block_type":"box","text":"Lowest share price","page_number":78,"box":{"x":58,"y":458,"width":99,"height":8}},{"id":"05c3e991-0dd6-48ba-b220-9463df8dbbe4","block_type":"box","text":"97.42","page_number":78,"box":{"x":445,"y":458,"width":28,"height":6}},{"id":"92e45f98-d154-4766-bc17-20d2a0240bf9","block_type":"box","text":"** Class M Accumulation launched on 9 January 2026.","page_number":78,"box":{"x":57,"y":481,"width":289,"height":8}},{"id":"685ec0dc-93b5-401c-bc76-b01ca8cc94dc","block_type":"box","text":"Class M Income","page_number":78,"box":{"x":57,"y":506,"width":146,"height":9}},{"id":"8a84cae1-f11f-4561-a7a9-abfa2977a2e1","block_type":"box","text":"30/06/26**","page_number":78,"box":{"x":416,"y":532,"width":57,"height":6}},{"id":"b4167add-deeb-4676-aaf8-ff47a137ab8c","block_type":"box","text":"Change in net assets per share","page_number":78,"box":{"x":57,"y":542,"width":178,"height":8}},{"id":"41cadf55-7865-4566-9e27-cbd6cef7a350","block_type":"box","text":"(p)","page_number":78,"box":{"x":459,"y":542,"width":14,"height":8}},{"id":"551c187e-ebe0-404c-aa79-677533e6cc5f","block_type":"box","text":"Opening net asset value per share","page_number":78,"box":{"x":57,"y":560,"width":183,"height":8}},{"id":"514baad3-369a-4359-a83c-da4141bb6efb","block_type":"box","text":"100.00","page_number":78,"box":{"x":438,"y":560,"width":35,"height":7}},{"id":"b22218d0-8341-4bb3-88d0-4657b1456518","block_type":"box","text":"Return before operating charges*","page_number":78,"box":{"x":58,"y":578,"width":176,"height":8}},{"id":"5f821fe5-c49c-431c-aec8-9af86314ffbb","block_type":"box","text":"8.93","page_number":78,"box":{"x":450,"y":578,"width":23,"height":6}},{"id":"46743d69-848b-4d9c-8534-b61c7f80b831","block_type":"box","text":"Operating charges","page_number":78,"box":{"x":57,"y":595,"width":99,"height":8}},{"id":"d3b8ad95-0279-4638-b298-b54678fe6609","block_type":"box","text":"(0.28)","page_number":78,"box":{"x":447,"y":595,"width":30,"height":8}},{"id":"9ebf8b42-95ff-4eb4-93dc-51d2350c8a6d","block_type":"box","text":"Return after operating charges*","page_number":78,"box":{"x":58,"y":613,"width":167,"height":8}},{"id":"e19257c2-7a79-405a-91e4-27563c7f60ab","block_type":"box","text":"8.65","page_number":78,"box":{"x":450,"y":613,"width":23,"height":6}},{"id":"9e2c6c70-8fbe-4c21-8a3e-9367ec7a246c","block_type":"box","text":"Distributions on income shares","page_number":78,"box":{"x":58,"y":631,"width":164,"height":6}},{"id":"267e3ae2-aaa7-498d-8029-0070fecf121f","block_type":"box","text":"(0.11)","page_number":78,"box":{"x":449,"y":630,"width":28,"height":8}},{"id":"588423e9-cdb9-4e0e-a9ae-284efe304d7c","block_type":"box","text":"Closing net asset value per share","page_number":78,"box":{"x":57,"y":648,"width":191,"height":8}},{"id":"38f8adcc-0f84-44cf-8df7-80b118aef16f","block_type":"box","text":"108.54","page_number":78,"box":{"x":437,"y":648,"width":36,"height":6}},{"id":"7609aada-f5b9-44db-a995-28f55d7b28a2","block_type":"box","text":"* after direct transaction costs of:","page_number":78,"box":{"x":57,"y":666,"width":175,"height":6}},{"id":"fb575b7d-c08a-4dcf-8f65-722f28d1691e","block_type":"box","text":"0.01","page_number":78,"box":{"x":451,"y":666,"width":20,"height":6}},{"id":"8c150c1e-0729-4b30-b97e-d539bd509e9d","block_type":"box","text":"Performance","page_number":78,"box":{"x":58,"y":682,"width":73,"height":6}},{"id":"021580ca-c47b-484a-9d0a-51c21fc568c5","block_type":"box","text":"Return after charges","page_number":78,"box":{"x":58,"y":691,"width":108,"height":8}},{"id":"66f3364a-40a1-40f6-b961-609ce8e07fd1","block_type":"box","text":"8.65%","page_number":78,"box":{"x":440,"y":691,"width":33,"height":7}},{"id":"4c935f5d-65b5-40e1-9ad9-53bfc2bb94c0","block_type":"box","text":"Other information","page_number":78,"box":{"x":57,"y":709,"width":102,"height":6}},{"id":"23792102-2085-4cfd-9bb2-830eba2447a6","block_type":"box","text":"Closing net asset value (£’000)","page_number":78,"box":{"x":57,"y":719,"width":165,"height":7}},{"id":"6b619599-dd50-4e41-83bf-6ab02ebb72cf","block_type":"box","text":"3","page_number":78,"box":{"x":467,"y":719,"width":6,"height":6}},{"id":"c186fe00-adc4-4f6a-b85a-66bb66d87ac2","block_type":"box","text":"Closing number of shares","page_number":78,"box":{"x":57,"y":729,"width":136,"height":8}},{"id":"a5021238-6767-47db-a38d-6347da0efd42","block_type":"box","text":"2,500","page_number":78,"box":{"x":445,"y":729,"width":28,"height":7}},{"id":"c2ebf712-5735-48a6-aef2-53b81cc1bee6","block_type":"box","text":"Operating charges","page_number":78,"box":{"x":57,"y":739,"width":99,"height":8}},{"id":"7a63ec0d-fce5-4147-aed9-08a872445778","block_type":"box","text":"0.60%","page_number":78,"box":{"x":440,"y":739,"width":33,"height":6}},{"id":"da3b1128-3655-4885-9db1-48e7460a4b8a","block_type":"box","text":"Direct transaction costs","page_number":78,"box":{"x":58,"y":749,"width":125,"height":6}},{"id":"fdee3937-a4de-41ba-ac37-c50ee83ce08f","block_type":"box","text":"0.01%","page_number":78,"box":{"x":441,"y":749,"width":32,"height":6}},{"id":"741e48b0-c631-4ab4-9d74-17f78c22443a","block_type":"box","text":"Prices","page_number":78,"box":{"x":58,"y":767,"width":35,"height":6}},{"id":"ae36ec8e-3426-4f9f-9afd-8af3c25194a2","block_type":"box","text":"^","page_number":78,"box":{"x":94,"y":767,"width":3,"height":2}},{"id":"3b0b4890-7a8f-49dd-a00e-456496eaba84","block_type":"box","text":"Highest share price","page_number":78,"box":{"x":58,"y":776,"width":102,"height":8}},{"id":"769ffe16-5673-4d38-a968-f8fd819bd4cb","block_type":"box","text":"109.60","page_number":78,"box":{"x":438,"y":776,"width":35,"height":7}},{"id":"9ee688e3-b8e2-47ac-8930-8d0507363c5b","block_type":"box","text":"Lowest share price","page_number":78,"box":{"x":58,"y":787,"width":99,"height":7}},{"id":"68c7f90a-cb99-4cc2-b203-130cc340b337","block_type":"box","text":"97.42","page_number":78,"box":{"x":445,"y":787,"width":28,"height":6}},{"id":"eeb1fbee-fe84-4e25-9878-d11303f3c0e5","block_type":"box","text":"** Class M Income launched on 9 January 2026.","page_number":78,"box":{"x":57,"y":810,"width":256,"height":8}},{"id":"5130dc07-10e2-4255-8558-2f703b810ffc","block_type":"box","text":"Class R Accumulation","page_number":78,"box":{"x":522,"y":151,"width":202,"height":9}},{"id":"f372f764-f61f-43c0-a25a-a6782e7530d4","block_type":"box","text":"30/06/26**","page_number":78,"box":{"x":880,"y":177,"width":57,"height":6}},{"id":"5082ae79-6e9c-4c3b-95fe-935df7c3f068","block_type":"box","text":"Change in net assets per share","page_number":78,"box":{"x":521,"y":186,"width":178,"height":8}},{"id":"0b95f318-14d7-4cc9-8a6f-efb519e7d316","block_type":"box","text":"(p)","page_number":78,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"0becca9e-1b81-47ee-8dd7-8e61f3cecc54","block_type":"box","text":"Opening net asset value per share","page_number":78,"box":{"x":521,"y":205,"width":183,"height":8}},{"id":"37aa3e46-939e-4d88-b637-684e4840217c","block_type":"box","text":"100.00","page_number":78,"box":{"x":902,"y":205,"width":35,"height":6}},{"id":"36ac1c48-a8bb-4a4a-b0d6-7c4cdc9dd05b","block_type":"box","text":"Return before operating charges*","page_number":78,"box":{"x":522,"y":222,"width":177,"height":8}},{"id":"f3e2c7a7-fa32-4891-ab83-7b58dbe6fc5d","block_type":"box","text":"8.89","page_number":78,"box":{"x":914,"y":222,"width":23,"height":6}},{"id":"09ac07f0-dca3-4ee6-806e-19043441010a","block_type":"box","text":"Operating charges","page_number":78,"box":{"x":521,"y":240,"width":99,"height":8}},{"id":"fd421629-d229-4fff-80c5-04fb4d9b9bdd","block_type":"box","text":"(0.06)","page_number":78,"box":{"x":911,"y":240,"width":30,"height":8}},{"id":"71fd824b-c898-42d5-9dbf-2037c19acb25","block_type":"box","text":"Return after operating charges*","page_number":78,"box":{"x":522,"y":257,"width":167,"height":8}},{"id":"c6c4172d-4ade-4f7f-a6a8-ccca4dadf891","block_type":"box","text":"8.83","page_number":78,"box":{"x":914,"y":257,"width":23,"height":6}},{"id":"f19aa10b-2e08-415b-b5ab-285998085c72","block_type":"box","text":"Distributions on accumulation shares","page_number":78,"box":{"x":522,"y":275,"width":196,"height":6}},{"id":"4118575f-2bf7-4d81-bf5e-250d7d907dfd","block_type":"box","text":"(0.29)","page_number":78,"box":{"x":911,"y":275,"width":30,"height":8}},{"id":"0ccf185d-9650-43d3-9872-622031041511","block_type":"box","text":"Retained distributions on","page_number":78,"box":{"x":522,"y":292,"width":131,"height":6}},{"id":"7b118452-600f-487a-9ba0-6716cbde89c3","block_type":"box","text":"accumulation shares","page_number":78,"box":{"x":521,"y":302,"width":110,"height":6}},{"id":"4a1db130-1f34-449e-b91f-72791e0ff3f5","block_type":"box","text":"0.29","page_number":78,"box":{"x":914,"y":292,"width":23,"height":6}},{"id":"5d2fb814-c7bd-4cf2-9426-ad94bf48e4ab","block_type":"box","text":"Closing net asset value per share","page_number":78,"box":{"x":521,"y":319,"width":192,"height":8}},{"id":"11f404f7-9bdd-47c6-94ce-6447a66a9018","block_type":"box","text":"108.83","page_number":78,"box":{"x":902,"y":319,"width":35,"height":6}},{"id":"ddadfd72-a5a1-45c0-977c-094381927f9b","block_type":"box","text":"* after direct transaction costs of:","page_number":78,"box":{"x":521,"y":337,"width":175,"height":7}},{"id":"2507fc91-5dc6-434a-a770-6b924c02e3ef","block_type":"box","text":"0.01","page_number":78,"box":{"x":915,"y":338,"width":20,"height":6}},{"id":"1842f44b-c3b4-4e39-a0cb-8be04ef5d767","block_type":"box","text":"Performance","page_number":78,"box":{"x":522,"y":353,"width":73,"height":6}},{"id":"091566c0-37eb-467c-8ee8-bb1cd0788a61","block_type":"box","text":"Return after charges","page_number":78,"box":{"x":522,"y":363,"width":109,"height":7}},{"id":"fa585137-14a0-4dac-9035-a663bfcb56ac","block_type":"box","text":"8.83%","page_number":78,"box":{"x":904,"y":363,"width":33,"height":6}},{"id":"35c26a4b-de38-4fa8-8e51-d3f4b8e219bb","block_type":"box","text":"Other information","page_number":78,"box":{"x":521,"y":381,"width":102,"height":6}},{"id":"160cf331-5d32-471f-bd9d-c5f8ba2ce234","block_type":"box","text":"Closing net asset value (£’000)","page_number":78,"box":{"x":522,"y":390,"width":164,"height":8}},{"id":"08becb0b-6b4b-4ef7-97b0-f9afdde51017","block_type":"box","text":"45,599","page_number":78,"box":{"x":900,"y":390,"width":37,"height":7}},{"id":"e344ca38-7257-4475-a838-6cc6b573b387","block_type":"box","text":"Closing number of shares","page_number":78,"box":{"x":522,"y":400,"width":135,"height":8}},{"id":"33e64ec0-ebe3-40b5-a148-e9586fcd79ec","block_type":"box","text":"41,897,796","page_number":78,"box":{"x":884,"y":400,"width":53,"height":7}},{"id":"a9c23497-9de2-4fc3-83f4-8d26dc8386df","block_type":"box","text":"Operating charges","page_number":78,"box":{"x":521,"y":410,"width":99,"height":8}},{"id":"cb5d7c69-15a2-471f-913f-7e6baf607d29","block_type":"box","text":"0.12%","page_number":78,"box":{"x":906,"y":410,"width":31,"height":7}},{"id":"6ec6deab-9ac6-4991-a324-6ce6ab5dd8e9","block_type":"box","text":"Direct transaction costs","page_number":78,"box":{"x":522,"y":420,"width":125,"height":7}},{"id":"9e41039c-f083-49e5-85e0-21e2a8fab161","block_type":"box","text":"0.01%","page_number":78,"box":{"x":905,"y":420,"width":32,"height":7}},{"id":"d9b87486-47ce-4ed5-9b11-b92ca916e0c0","block_type":"box","text":"Prices","page_number":78,"box":{"x":522,"y":438,"width":35,"height":7}},{"id":"696c3437-a124-4700-915b-493e59eabe19","block_type":"box","text":"^","page_number":78,"box":{"x":558,"y":438,"width":3,"height":2}},{"id":"ec352bfc-b548-4676-b003-1ddfb3d244c8","block_type":"box","text":"Highest share price","page_number":78,"box":{"x":522,"y":448,"width":103,"height":8}},{"id":"4bac3304-b57f-46ac-bc45-98435a930548","block_type":"box","text":"109.80","page_number":78,"box":{"x":902,"y":448,"width":35,"height":6}},{"id":"a22e0e7a-c3fa-4d95-8970-bad093cf7809","block_type":"box","text":"Lowest share price","page_number":78,"box":{"x":522,"y":458,"width":100,"height":8}},{"id":"3b1be2af-8e2f-4ddc-82cf-9d208438018b","block_type":"box","text":"97.50","page_number":78,"box":{"x":909,"y":458,"width":28,"height":6}},{"id":"41dbdd84-e702-43ff-8f14-b3c48a7cc3f9","block_type":"box","text":"** Class R Accumulation launched on 9 January 2026.","page_number":78,"box":{"x":521,"y":481,"width":288,"height":8}},{"id":"828bb531-da21-46e5-a6b1-96fc8890f3a1","block_type":"box","text":"Class S Accumulation","page_number":78,"box":{"x":522,"y":506,"width":201,"height":9}},{"id":"d5bba0e5-746e-4c31-a474-20a4c83b3aa9","block_type":"box","text":"30/06/26**","page_number":78,"box":{"x":880,"y":532,"width":57,"height":6}},{"id":"f6bf5e6d-1c67-4347-b5c8-46b84e1f270b","block_type":"box","text":"Change in net assets per share","page_number":78,"box":{"x":521,"y":542,"width":178,"height":8}},{"id":"b7155c87-8677-4fa3-94c1-ea3887429116","block_type":"box","text":"(p)","page_number":78,"box":{"x":923,"y":542,"width":14,"height":8}},{"id":"b6dc2418-0482-40c5-b53a-a0f166812a5d","block_type":"box","text":"Opening net asset value per share","page_number":78,"box":{"x":521,"y":560,"width":183,"height":8}},{"id":"74011202-ffd4-49f0-9012-48a77a6023a9","block_type":"box","text":"100.00","page_number":78,"box":{"x":902,"y":560,"width":35,"height":7}},{"id":"318ccc2e-2742-46b1-a381-bba082f1a6b7","block_type":"box","text":"Return before operating charges*","page_number":78,"box":{"x":522,"y":578,"width":177,"height":8}},{"id":"3a3d2c3a-208d-4ab2-a789-b625f5d547c8","block_type":"box","text":"8.90","page_number":78,"box":{"x":914,"y":578,"width":23,"height":6}},{"id":"050de082-6d9b-4a5e-abae-df91980e8b9e","block_type":"box","text":"Operating charges","page_number":78,"box":{"x":521,"y":595,"width":99,"height":8}},{"id":"c8bc3f89-497c-44ae-a822-899f2164419c","block_type":"box","text":"(0.07)","page_number":78,"box":{"x":911,"y":595,"width":30,"height":8}},{"id":"5066b542-87f7-4ab5-81de-2138e898b084","block_type":"box","text":"Return after operating charges*","page_number":78,"box":{"x":522,"y":613,"width":167,"height":8}},{"id":"ace27f25-6067-4518-ab26-d107e4b6d603","block_type":"box","text":"8.83","page_number":78,"box":{"x":914,"y":613,"width":23,"height":6}},{"id":"e22495cf-08fa-491e-9d8c-d3b5f3bf7b68","block_type":"box","text":"Distributions on accumulation shares","page_number":78,"box":{"x":522,"y":631,"width":196,"height":6}},{"id":"bf049f68-8a47-4dd6-ab97-8c493f149def","block_type":"box","text":"(0.28)","page_number":78,"box":{"x":911,"y":630,"width":30,"height":8}},{"id":"dcdd5fa5-6188-48e0-b1d7-bda86ab8e056","block_type":"box","text":"Retained distributions on","page_number":78,"box":{"x":522,"y":648,"width":131,"height":6}},{"id":"2a1ae934-8c45-4f75-8aba-5a7e10596d8a","block_type":"box","text":"accumulation shares","page_number":78,"box":{"x":521,"y":658,"width":110,"height":6}},{"id":"58d6c5fa-c050-4a94-8883-591eb9d8e92b","block_type":"box","text":"0.28","page_number":78,"box":{"x":915,"y":648,"width":22,"height":6}},{"id":"24366a4a-506d-4b73-be8a-a9df6ef3fbee","block_type":"box","text":"Closing net asset value per share","page_number":78,"box":{"x":521,"y":675,"width":192,"height":8}},{"id":"2f905631-60d5-48f4-b7f1-8fee2669f2fe","block_type":"box","text":"108.83","page_number":78,"box":{"x":902,"y":675,"width":35,"height":6}},{"id":"1167f117-bc2f-47c5-a502-66f9a975f171","block_type":"box","text":"* after direct transaction costs of:","page_number":78,"box":{"x":521,"y":693,"width":175,"height":6}},{"id":"872e690b-bedf-4e79-af8b-1e6ef9d5300f","block_type":"box","text":"0.01","page_number":78,"box":{"x":915,"y":693,"width":20,"height":6}},{"id":"38a563a5-4df2-4e34-85f4-6a1672982709","block_type":"box","text":"Performance","page_number":78,"box":{"x":522,"y":709,"width":73,"height":6}},{"id":"aabb0161-e4ff-4977-8830-ce24354d4753","block_type":"box","text":"Return after charges","page_number":78,"box":{"x":522,"y":718,"width":109,"height":8}},{"id":"8609c200-9135-4759-b572-88d1f6427e68","block_type":"box","text":"8.83%","page_number":78,"box":{"x":904,"y":718,"width":33,"height":7}},{"id":"94e37243-c0c8-4a8b-bb95-75a85dedecec","block_type":"box","text":"Other information","page_number":78,"box":{"x":521,"y":736,"width":102,"height":6}},{"id":"17f3de25-a011-486f-bf61-bae0f367ccae","block_type":"box","text":"Closing net asset value (£’000)","page_number":78,"box":{"x":522,"y":746,"width":164,"height":7}},{"id":"d8d56402-0ffb-4ef8-acf2-e6cf09be12af","block_type":"box","text":"3","page_number":78,"box":{"x":932,"y":746,"width":5,"height":6}},{"id":"d1607936-dcc8-4dff-9968-87d1e03d0282","block_type":"box","text":"Closing number of shares","page_number":78,"box":{"x":522,"y":756,"width":135,"height":8}},{"id":"3cc8d5e0-f754-4b49-bb4b-eacfc3525b50","block_type":"box","text":"2,500","page_number":78,"box":{"x":909,"y":756,"width":28,"height":7}},{"id":"7754c171-4974-4f0a-b628-a018ad0623e4","block_type":"box","text":"Operating charges","page_number":78,"box":{"x":521,"y":766,"width":99,"height":8}},{"id":"80560fd5-e421-4c8e-9708-e8201bba13ce","block_type":"box","text":"0.15%","page_number":78,"box":{"x":906,"y":766,"width":31,"height":6}},{"id":"b9d9046e-e429-4ccd-9590-a287fc3935bc","block_type":"box","text":"Direct transaction costs","page_number":78,"box":{"x":522,"y":776,"width":125,"height":6}},{"id":"421a6c18-8d97-489a-8d70-175010d3b9b5","block_type":"box","text":"0.01%","page_number":78,"box":{"x":905,"y":776,"width":32,"height":6}},{"id":"e118471c-6d75-4616-8e05-0e8824b2f69e","block_type":"box","text":"Prices","page_number":78,"box":{"x":522,"y":794,"width":35,"height":6}},{"id":"b4391287-b159-40c1-ab27-f62c32cae31f","block_type":"box","text":"^","page_number":78,"box":{"x":558,"y":794,"width":3,"height":2}},{"id":"914c5838-4810-4a9a-b470-3744755e7882","block_type":"box","text":"Highest share price","page_number":78,"box":{"x":522,"y":803,"width":103,"height":8}},{"id":"e5bd45b6-6ada-433e-8029-0c3af261f668","block_type":"box","text":"109.70","page_number":78,"box":{"x":903,"y":803,"width":34,"height":7}},{"id":"0cab1d46-de0e-4653-b84a-74b177898ca5","block_type":"box","text":"Lowest share price","page_number":78,"box":{"x":522,"y":814,"width":100,"height":7}},{"id":"a816fe4c-6694-4755-8296-0e40a452e8cb","block_type":"box","text":"97.49","page_number":78,"box":{"x":909,"y":814,"width":28,"height":6}},{"id":"9e9fd842-d1d8-4236-91aa-29c62af9cb85","block_type":"box","text":"** Class S Accumulation launched on 9 January 2026.","page_number":78,"box":{"x":521,"y":837,"width":288,"height":8}},{"id":"073cde59-e9da-4259-969b-227fa7513a73","block_type":"box","text":"Comparative Tables","page_number":78,"box":{"x":58,"y":94,"width":236,"height":14}},{"id":"628ba504-74a3-49e0-bb0f-5dd848674770","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":78,"box":{"x":454,"y":33,"width":459,"height":8}},{"id":"1082858f-9bdc-4895-b189-d7d8177726f9","block_type":"box","text":"78","page_number":78,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"8d31e2ac-d8f2-4d4d-8c90-326578c534b1","block_type":"box","text":"Comparative Tables","page_number":79,"box":{"x":58,"y":94,"width":244,"height":14}},{"id":"288f02a5-07b7-478a-a2cc-9cbd595830de","block_type":"box","text":"(continued)","page_number":79,"box":{"x":303,"y":97,"width":75,"height":10}},{"id":"d094f0b5-d635-4bf6-9310-8148e3d0ba85","block_type":"box","text":"Class S Income","page_number":79,"box":{"x":57,"y":151,"width":143,"height":9}},{"id":"ff0d8d10-1dc5-4433-b266-fbfd2e2235a4","block_type":"box","text":"30/06/26**","page_number":79,"box":{"x":416,"y":177,"width":57,"height":6}},{"id":"098ca150-5dda-4c2b-8238-3bf38fec8473","block_type":"box","text":"Change in net assets per share","page_number":79,"box":{"x":57,"y":186,"width":178,"height":8}},{"id":"50c20974-063d-494a-a3f4-41561c013978","block_type":"box","text":"(p)","page_number":79,"box":{"x":459,"y":186,"width":14,"height":8}},{"id":"786f186e-cd54-48b3-ab8d-9f12878f6ee0","block_type":"box","text":"Opening net asset value per share","page_number":79,"box":{"x":57,"y":205,"width":183,"height":8}},{"id":"ad067d30-b929-4881-9a87-94572c8cfee5","block_type":"box","text":"100.00","page_number":79,"box":{"x":438,"y":205,"width":35,"height":6}},{"id":"0c67808a-ecdd-4bab-9942-ab241d1782eb","block_type":"box","text":"Return before operating charges*","page_number":79,"box":{"x":58,"y":222,"width":176,"height":8}},{"id":"081d9b72-a774-4b00-941b-1a8ef4797e19","block_type":"box","text":"8.90","page_number":79,"box":{"x":450,"y":222,"width":23,"height":6}},{"id":"a8bdfe75-3b80-424e-9ef6-f2e0bd3d420b","block_type":"box","text":"Operating charges","page_number":79,"box":{"x":57,"y":240,"width":99,"height":8}},{"id":"377c250f-6d97-4617-aa81-8656eeb87814","block_type":"box","text":"(0.07)","page_number":79,"box":{"x":447,"y":240,"width":30,"height":8}},{"id":"2cb0e5f8-4b7b-481e-b02c-8bc483f075a0","block_type":"box","text":"Return after operating charges*","page_number":79,"box":{"x":58,"y":257,"width":167,"height":8}},{"id":"c6a10c5b-5075-4241-bc0a-94bd4d86c292","block_type":"box","text":"8.83","page_number":79,"box":{"x":450,"y":257,"width":23,"height":6}},{"id":"140b261a-bb56-409f-8c59-13ba064857a9","block_type":"box","text":"Distributions on income shares","page_number":79,"box":{"x":58,"y":275,"width":164,"height":6}},{"id":"0cf2ddc7-d4b8-4ab9-bd3a-0dc08d49e283","block_type":"box","text":"(0.28)","page_number":79,"box":{"x":447,"y":275,"width":30,"height":8}},{"id":"bd9addc1-e570-466e-8cc2-eb8a07cd489b","block_type":"box","text":"Closing net asset value per share","page_number":79,"box":{"x":57,"y":292,"width":191,"height":8}},{"id":"76589ba8-3b96-4b84-9788-b1d529d1fc16","block_type":"box","text":"108.55","page_number":79,"box":{"x":437,"y":292,"width":36,"height":6}},{"id":"0cca4110-a27e-4872-81f4-8e6268328840","block_type":"box","text":"* after direct transaction costs of:","page_number":79,"box":{"x":57,"y":310,"width":175,"height":7}},{"id":"9fdaafc7-b0f8-4778-9deb-e8f9ec7a0d19","block_type":"box","text":"0.01","page_number":79,"box":{"x":451,"y":311,"width":20,"height":6}},{"id":"a8457694-6227-4e3e-b3af-3c3ea5507952","block_type":"box","text":"Performance","page_number":79,"box":{"x":58,"y":326,"width":73,"height":6}},{"id":"fcd11eb9-f45a-4a5e-8e02-1458a9a9127c","block_type":"box","text":"Return after charges","page_number":79,"box":{"x":58,"y":336,"width":108,"height":7}},{"id":"c8e516ef-2c31-4641-b804-a3a4e3a49f63","block_type":"box","text":"8.83%","page_number":79,"box":{"x":440,"y":336,"width":33,"height":6}},{"id":"24b73876-615c-4ff7-9bba-3fa99a85e07d","block_type":"box","text":"Other information","page_number":79,"box":{"x":57,"y":354,"width":102,"height":6}},{"id":"be096107-88c2-40d8-9a87-635bfb144211","block_type":"box","text":"Closing net asset value (£’000)","page_number":79,"box":{"x":57,"y":363,"width":165,"height":8}},{"id":"fdf246b8-1cf5-4e0d-92ef-990f5f7b7cea","block_type":"box","text":"3","page_number":79,"box":{"x":467,"y":363,"width":6,"height":6}},{"id":"8b16ec8c-a6fc-4380-baa1-9a84df0e1d88","block_type":"box","text":"Closing number of shares","page_number":79,"box":{"x":57,"y":373,"width":136,"height":8}},{"id":"205f46e3-17a7-4933-97f3-7c6618e3c8ac","block_type":"box","text":"2,500","page_number":79,"box":{"x":445,"y":373,"width":28,"height":7}},{"id":"183d0508-085c-4c5a-8320-0ae18199565a","block_type":"box","text":"Operating charges","page_number":79,"box":{"x":57,"y":383,"width":99,"height":8}},{"id":"7f7a074f-850d-4ffa-bcbd-78a1cba3b0ef","block_type":"box","text":"0.15%","page_number":79,"box":{"x":441,"y":383,"width":32,"height":7}},{"id":"efd400f4-8105-4533-9e06-1c4aa5ee14cd","block_type":"box","text":"Direct transaction costs","page_number":79,"box":{"x":58,"y":393,"width":125,"height":7}},{"id":"dec46947-51ca-4e3d-8ca5-8d0b104b82e8","block_type":"box","text":"0.01%","page_number":79,"box":{"x":441,"y":393,"width":32,"height":7}},{"id":"b2e45f95-4e6b-4e74-87dd-678a350babab","block_type":"box","text":"Prices","page_number":79,"box":{"x":58,"y":411,"width":35,"height":7}},{"id":"8315aadd-a56e-47f8-a03c-3e79eb42b0c8","block_type":"box","text":"^","page_number":79,"box":{"x":94,"y":411,"width":3,"height":2}},{"id":"1cbd0dd4-9675-4129-ae0a-c36b043de1aa","block_type":"box","text":"Highest share price","page_number":79,"box":{"x":58,"y":421,"width":102,"height":8}},{"id":"6f471585-0ade-4c38-937b-399fa50641c1","block_type":"box","text":"109.70","page_number":79,"box":{"x":438,"y":421,"width":35,"height":6}},{"id":"e7725a9e-d82c-4238-984c-f544efd218fe","block_type":"box","text":"Lowest share price","page_number":79,"box":{"x":58,"y":431,"width":99,"height":8}},{"id":"aa9d324c-38b3-479f-8adb-6a626eb69c76","block_type":"box","text":"97.49","page_number":79,"box":{"x":445,"y":431,"width":28,"height":6}},{"id":"b656558f-9d08-4c16-8b4d-a489561312e4","block_type":"box","text":"** Class S Income launched on 9 January 2026.","page_number":79,"box":{"x":57,"y":454,"width":254,"height":8}},{"id":"c3f97cf1-de1c-4002-b5a6-28147143e5e3","block_type":"box","text":"Class Z Accumulation","page_number":79,"box":{"x":522,"y":151,"width":201,"height":9}},{"id":"95609220-5a72-463f-b493-4d6966606ff7","block_type":"box","text":"30/06/26**","page_number":79,"box":{"x":880,"y":177,"width":57,"height":6}},{"id":"b26bd7dd-f573-4c5f-ba3b-d3d8075a7fdd","block_type":"box","text":"Change in net assets per share","page_number":79,"box":{"x":521,"y":186,"width":178,"height":8}},{"id":"32d8ad86-d047-4121-b2b9-3770d2e9fb7a","block_type":"box","text":"(p)","page_number":79,"box":{"x":923,"y":186,"width":14,"height":8}},{"id":"295550ad-658f-4d3f-805b-298ad4efc801","block_type":"box","text":"Opening net asset value per share","page_number":79,"box":{"x":521,"y":205,"width":183,"height":8}},{"id":"2b8debc2-2d23-4dcd-8fc7-66e7107a588c","block_type":"box","text":"100.00","page_number":79,"box":{"x":902,"y":205,"width":35,"height":6}},{"id":"4c4ab559-951d-4ea0-b8c5-76b691ed39ed","block_type":"box","text":"Return before operating charges*","page_number":79,"box":{"x":522,"y":222,"width":177,"height":8}},{"id":"73664d49-b69a-4e94-b7d9-b4acb34ae3d6","block_type":"box","text":"8.89","page_number":79,"box":{"x":914,"y":222,"width":23,"height":6}},{"id":"d5e2618f-05c4-4854-b1e3-11cdc20ba02b","block_type":"box","text":"Operating charges","page_number":79,"box":{"x":521,"y":240,"width":99,"height":8}},{"id":"0afda67d-5bba-4c72-8063-0ba50182a801","block_type":"box","text":"(0.14)","page_number":79,"box":{"x":913,"y":240,"width":28,"height":8}},{"id":"f9fded65-ec10-4f52-8ec7-eedba7fe07b5","block_type":"box","text":"Return after operating charges*","page_number":79,"box":{"x":522,"y":257,"width":167,"height":8}},{"id":"82832aa7-b535-4d9c-a85f-819b080dd156","block_type":"box","text":"8.75","page_number":79,"box":{"x":915,"y":257,"width":22,"height":6}},{"id":"a1397a54-aca8-4b19-951e-d5e1d980056b","block_type":"box","text":"Distributions on accumulation shares","page_number":79,"box":{"x":522,"y":275,"width":196,"height":6}},{"id":"e5819a4b-b414-4bfd-b88c-b7fb531f42cf","block_type":"box","text":"(0.20)","page_number":79,"box":{"x":911,"y":275,"width":30,"height":8}},{"id":"9e448f49-abea-4207-9f2d-a58d2df08284","block_type":"box","text":"Retained distributions on","page_number":79,"box":{"x":522,"y":292,"width":131,"height":6}},{"id":"4979b51f-6bea-4c61-bbd9-ac3ff0af026d","block_type":"box","text":"accumulation shares","page_number":79,"box":{"x":521,"y":302,"width":110,"height":6}},{"id":"3fe0d792-3d4c-4549-8c29-8f6e5d5eb74a","block_type":"box","text":"0.20","page_number":79,"box":{"x":914,"y":292,"width":23,"height":6}},{"id":"fb38e6d6-a7e6-4760-83d9-5b7974f14e01","block_type":"box","text":"Closing net asset value per share","page_number":79,"box":{"x":521,"y":319,"width":192,"height":8}},{"id":"881cadae-e16b-4284-8dce-aef21debcb8a","block_type":"box","text":"108.75","page_number":79,"box":{"x":902,"y":319,"width":35,"height":6}},{"id":"45c40c36-62d0-4498-bc34-798afdc3ec9e","block_type":"box","text":"* after direct transaction costs of:","page_number":79,"box":{"x":521,"y":337,"width":175,"height":7}},{"id":"d537d2a9-5849-4ae5-85d8-e3f474005217","block_type":"box","text":"0.01","page_number":79,"box":{"x":915,"y":338,"width":20,"height":6}},{"id":"828b11fb-deb5-4d2b-b57b-ceb7040ffee7","block_type":"box","text":"Performance","page_number":79,"box":{"x":522,"y":353,"width":73,"height":6}},{"id":"c97eaaa5-4854-41c0-8ae8-0de2e5aa5ff5","block_type":"box","text":"Return after charges","page_number":79,"box":{"x":522,"y":363,"width":109,"height":7}},{"id":"5943b084-5475-4c1b-bf0d-c6d173fdf065","block_type":"box","text":"8.75%","page_number":79,"box":{"x":905,"y":363,"width":32,"height":6}},{"id":"e550428c-9de3-4348-8d36-0c066f547587","block_type":"box","text":"Other information","page_number":79,"box":{"x":521,"y":381,"width":102,"height":6}},{"id":"12a3d959-d696-443f-9e98-05cea15ffaaf","block_type":"box","text":"Closing net asset value (£’000)","page_number":79,"box":{"x":522,"y":390,"width":164,"height":8}},{"id":"606cda40-eea7-4d5e-a21c-98a34d00ae20","block_type":"box","text":"234","page_number":79,"box":{"x":918,"y":390,"width":19,"height":6}},{"id":"9e27aa33-77aa-4c80-8e10-4f0de7cb0a5f","block_type":"box","text":"Closing number of shares","page_number":79,"box":{"x":522,"y":400,"width":135,"height":8}},{"id":"a6414ea1-07b1-4d55-8582-90ae9a4ae246","block_type":"box","text":"215,509","page_number":79,"box":{"x":897,"y":400,"width":40,"height":7}},{"id":"8675e42b-dbd6-48fe-9493-002e862505ce","block_type":"box","text":"Operating charges","page_number":79,"box":{"x":521,"y":410,"width":99,"height":8}},{"id":"85513dec-8a9c-48c0-bab1-25623a7e2847","block_type":"box","text":"0.30%","page_number":79,"box":{"x":904,"y":410,"width":33,"height":7}},{"id":"5d99cf00-2c12-4227-b21d-cb5137564635","block_type":"box","text":"Direct transaction costs","page_number":79,"box":{"x":522,"y":420,"width":125,"height":7}},{"id":"da3fa262-d503-4729-8327-e823e07608a7","block_type":"box","text":"0.01%","page_number":79,"box":{"x":905,"y":420,"width":32,"height":7}},{"id":"b7a2544a-6875-403e-8858-7180c65ecc3b","block_type":"box","text":"Prices","page_number":79,"box":{"x":522,"y":438,"width":35,"height":7}},{"id":"1ed3b6b6-8f30-4a17-814c-eccac6feaf3a","block_type":"box","text":"^","page_number":79,"box":{"x":558,"y":438,"width":3,"height":2}},{"id":"1054dda7-5830-4fad-a69f-0054f29d1074","block_type":"box","text":"Highest share price","page_number":79,"box":{"x":522,"y":448,"width":103,"height":8}},{"id":"fbcd91f4-033f-43ee-b40f-a3624ffb656e","block_type":"box","text":"109.70","page_number":79,"box":{"x":903,"y":448,"width":34,"height":6}},{"id":"9da2a6f8-3062-47a4-8b9f-9835b3a6cd01","block_type":"box","text":"Lowest share price","page_number":79,"box":{"x":522,"y":458,"width":100,"height":8}},{"id":"dfaeb643-255c-4b59-af17-513d401a7b32","block_type":"box","text":"97.45","page_number":79,"box":{"x":909,"y":458,"width":28,"height":6}},{"id":"91218edc-41c7-4d20-ae09-d7bccacdedec","block_type":"box","text":"** Class Z Accumulation launched on 9 January 2026.","page_number":79,"box":{"x":521,"y":481,"width":287,"height":8}},{"id":"c64ec4fd-66d9-425d-8359-686913a7e27a","block_type":"box","text":"^","page_number":79,"box":{"x":521,"y":495,"width":3,"height":2}},{"id":"f7b6eefd-8329-4cb2-801f-1d7dcbb1eca6","block_type":"box","text":"The high and low prices disclosed are the high and low prices for the accounting","page_number":79,"box":{"x":527,"y":495,"width":415,"height":8}},{"id":"1e92f893-2f16-4c2a-961c-d7e13fa53f10","block_type":"box","text":"period and not the calendar year.","page_number":79,"box":{"x":522,"y":506,"width":174,"height":8}},{"id":"2eaacd17-e9a4-4ecc-a3f4-321912b00811","block_type":"box","text":"The Fund launched on 9 January 2026, hence there are","page_number":79,"box":{"x":521,"y":524,"width":421,"height":10}},{"id":"aa9df1a6-1c68-4024-a05e-5273b1cf1956","block_type":"box","text":"no comparatives.","page_number":79,"box":{"x":522,"y":537,"width":114,"height":10}},{"id":"f5ec455b-b60d-4fcd-962a-7e6415750390","block_type":"box","text":"The Fund has received a full rebate of synthetic costs to","page_number":79,"box":{"x":521,"y":554,"width":421,"height":10}},{"id":"12f76ce2-9a1a-4f56-87c2-51a1d8a74f50","block_type":"box","text":"maintain the Fund Management Fee at a fixed level.","page_number":79,"box":{"x":522,"y":567,"width":350,"height":10}},{"id":"0ce926df-dfa6-4f26-9ec7-d1bf65dad318","block_type":"box","text":"It should be noted that past performance is not a reliable","page_number":79,"box":{"x":522,"y":583,"width":420,"height":10}},{"id":"5dd052e3-3930-4644-9d7d-2b9cc3d176c6","block_type":"box","text":"indicator of future performance and that the value of shares,","page_number":79,"box":{"x":522,"y":596,"width":419,"height":10}},{"id":"9376c02e-af9d-4a94-b824-ffc350492cf8","block_type":"box","text":"and the income derived from them, can vary.","page_number":79,"box":{"x":521,"y":609,"width":303,"height":10}},{"id":"fe63cf8c-e353-48bd-9bf5-d6e2c73c62f5","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":79,"box":{"x":454,"y":33,"width":459,"height":8}},{"id":"53c100f7-1466-40de-b2ff-094756da2411","block_type":"box","text":"79","page_number":79,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"d0f152ff-acd8-4393-9fbe-98f510545dba","block_type":"box","text":"Portfolio Statement","page_number":80,"box":{"x":58,"y":94,"width":233,"height":11}},{"id":"7321a65d-b9db-4baf-9a09-022ca83ab48e","block_type":"box","text":"As at 30","page_number":80,"box":{"x":57,"y":113,"width":55,"height":8}},{"id":"d4b866d6-b8ed-4d9c-9223-91f1fd50d4e2","block_type":"box","text":"June 2026","page_number":80,"box":{"x":117,"y":113,"width":70,"height":8}},{"id":"d0bffc16-f1ab-468a-be5e-79e247d25b5d","block_type":"box","text":"Bond Collective Investment Schemes – 9.76%","page_number":80,"box":{"x":58,"y":201,"width":260,"height":7}},{"id":"7fc7c881-c491-407b-afe7-ea10cd86bab0","block_type":"box","text":"267,865","page_number":80,"box":{"x":79,"y":211,"width":41,"height":7}},{"id":"480f9950-7b8b-40b2-8f0c-0a8b4e49c729","block_type":"box","text":"Royal London Emerging Markets Corporate","page_number":80,"box":{"x":129,"y":211,"width":225,"height":8}},{"id":"227fbb55-b1b6-41ee-925a-6a4a65d73e0f","block_type":"box","text":"Bond Fund R Acc","page_number":80,"box":{"x":129,"y":221,"width":90,"height":6}},{"id":"f4126bac-c28b-4ad2-8245-0db012410bcf","block_type":"box","text":"†","page_number":80,"box":{"x":220,"y":220,"width":3,"height":5}},{"id":"a1c4b723-7fa0-48e0-b895-ecd23f1db97b","block_type":"box","text":"343","page_number":80,"box":{"x":380,"y":220,"width":19,"height":7}},{"id":"dcdb576c-86c8-407c-b39e-85a402f1bf2f","block_type":"box","text":"0.75","page_number":80,"box":{"x":450,"y":220,"width":22,"height":7}},{"id":"f0140aaf-0260-41a8-8d01-8f9b3cb6a56b","block_type":"box","text":"608,626","page_number":80,"box":{"x":79,"y":230,"width":41,"height":7}},{"id":"b4a3708a-2ae5-48a8-8686-96818c82b022","block_type":"box","text":"Royal London Global High Yield Bond Fund","page_number":80,"box":{"x":129,"y":230,"width":225,"height":8}},{"id":"81b58592-0dc4-4d02-8590-29910b2ca388","block_type":"box","text":"R Acc","page_number":80,"box":{"x":129,"y":240,"width":30,"height":6}},{"id":"3e5196e9-11a4-4afd-8824-fdcd97ad0b46","block_type":"box","text":"†","page_number":80,"box":{"x":159,"y":240,"width":3,"height":4}},{"id":"a5695cb8-0050-41d2-8a0b-5050d26ac619","block_type":"box","text":"801","page_number":80,"box":{"x":380,"y":240,"width":17,"height":6}},{"id":"dd3e4c54-ce75-417a-910c-44d7aa330641","block_type":"box","text":"1.75","page_number":80,"box":{"x":451,"y":240,"width":21,"height":6}},{"id":"bb83f939-c3d5-464d-ae89-42a786d51360","block_type":"box","text":"699,564","page_number":80,"box":{"x":79,"y":249,"width":41,"height":7}},{"id":"f932d1f0-add7-4fca-8f24-cd0e33edd9aa","block_type":"box","text":"Royal London International Government","page_number":80,"box":{"x":129,"y":249,"width":207,"height":8}},{"id":"33df3adc-501f-4cda-9bbf-a74c43b5fff8","block_type":"box","text":"Bond Fund R Acc","page_number":80,"box":{"x":129,"y":259,"width":90,"height":6}},{"id":"30f595ec-7538-4a8a-9188-1222061cf3bd","block_type":"box","text":"†","page_number":80,"box":{"x":220,"y":259,"width":3,"height":4}},{"id":"3176821d-160b-4218-ad1e-000beb1c2f0e","block_type":"box","text":"802","page_number":80,"box":{"x":380,"y":259,"width":19,"height":6}},{"id":"dd10f680-556d-4d38-b6a0-61f8f7428b46","block_type":"box","text":"1.75","page_number":80,"box":{"x":451,"y":259,"width":21,"height":6}},{"id":"8bf7d157-785d-44dc-a0af-69e7ed603755","block_type":"box","text":"1,601,229","page_number":80,"box":{"x":70,"y":268,"width":50,"height":7}},{"id":"d17a1afc-4727-4684-8dfd-21ce108aa0f0","block_type":"box","text":"Royal London Sterling Liquidity Money","page_number":80,"box":{"x":129,"y":268,"width":200,"height":8}},{"id":"1e391ded-7023-4ecd-91f1-e4b3543d6438","block_type":"box","text":"Market Fund R Inc","page_number":80,"box":{"x":129,"y":278,"width":96,"height":6}},{"id":"ac79aca8-60e9-4078-9870-978f402824b3","block_type":"box","text":"†","page_number":80,"box":{"x":225,"y":278,"width":3,"height":4}},{"id":"e5665bfd-4f6e-4bc8-b36e-8adbc7ebc91a","block_type":"box","text":"1,601","page_number":80,"box":{"x":371,"y":278,"width":26,"height":7}},{"id":"8094f4f1-d983-408c-8e08-7dbdaf977860","block_type":"box","text":"3.49","page_number":80,"box":{"x":450,"y":278,"width":22,"height":6}},{"id":"4e2a730b-61b8-4157-bcd0-0ac9a63dc370","block_type":"box","text":"960,853","page_number":80,"box":{"x":79,"y":287,"width":41,"height":7}},{"id":"27ca617c-ef00-4c13-bff7-21e699948ed2","block_type":"box","text":"Royal London UK Government Bond Fund","page_number":80,"box":{"x":129,"y":287,"width":219,"height":8}},{"id":"45b9bc82-2845-4ffc-9bdc-92d7661176e5","block_type":"box","text":"R Acc","page_number":80,"box":{"x":129,"y":297,"width":30,"height":6}},{"id":"ed78b934-829b-44cc-928c-cc2cc59604fb","block_type":"box","text":"†","page_number":80,"box":{"x":159,"y":297,"width":3,"height":4}},{"id":"ff2b9f9d-53a6-45cc-92be-c472bc6699e6","block_type":"box","text":"927","page_number":80,"box":{"x":380,"y":297,"width":19,"height":6}},{"id":"9dca421a-1c74-46a6-abc4-c14af6bedbf4","block_type":"box","text":"2.02","page_number":80,"box":{"x":450,"y":297,"width":22,"height":6}},{"id":"67b3244c-a072-4c63-b323-0a859ede7055","block_type":"box","text":"Total Bond Collective Investment Schemes","page_number":80,"box":{"x":57,"y":313,"width":239,"height":6}},{"id":"ec916b5d-f94b-4a9b-b0aa-6bd87a42e4f7","block_type":"box","text":"4,474","page_number":80,"box":{"x":370,"y":313,"width":29,"height":7}},{"id":"57c975d5-6b8a-4ea1-871d-066661cd1ee7","block_type":"box","text":"9.76","page_number":80,"box":{"x":450,"y":313,"width":22,"height":6}},{"id":"de8c9b64-8284-4ece-b027-896d832f29d5","block_type":"box","text":"Equity Collective Investment Schemes – 83.19%","page_number":80,"box":{"x":58,"y":329,"width":273,"height":8}},{"id":"ddea6f2b-7162-4be5-95c4-7ae1029b522d","block_type":"box","text":"376,824","page_number":80,"box":{"x":79,"y":338,"width":41,"height":8}},{"id":"5f373638-5f5e-478b-b088-a9088a20ce41","block_type":"box","text":"Royal London Asia Pacific ex Japan Tilt","page_number":80,"box":{"x":129,"y":338,"width":204,"height":8}},{"id":"ef22dce9-83fe-40f5-b71f-5a3ddcc1d088","block_type":"box","text":"Fund R Acc","page_number":80,"box":{"x":129,"y":348,"width":60,"height":6}},{"id":"a19db52d-a7cf-4b96-abdc-28caf7316301","block_type":"box","text":"†","page_number":80,"box":{"x":189,"y":348,"width":3,"height":4}},{"id":"5fec5ac3-5a62-4a4a-a752-9226fd974626","block_type":"box","text":"1,124","page_number":80,"box":{"x":371,"y":348,"width":28,"height":7}},{"id":"ebb33120-5716-410e-b93b-aa6467327322","block_type":"box","text":"2.45","page_number":80,"box":{"x":450,"y":348,"width":22,"height":6}},{"id":"cc3e51bc-5ce4-48cc-91f9-7b60dba8f362","block_type":"box","text":"2,173,256","page_number":80,"box":{"x":69,"y":357,"width":51,"height":8}},{"id":"40ad8e3a-760f-4b16-b6af-e87eb0596319","block_type":"box","text":"Royal London Emerging Markets Equity","page_number":80,"box":{"x":129,"y":358,"width":206,"height":7}},{"id":"d036d6f0-a97e-4cb2-8c07-44f131af1610","block_type":"box","text":"Tilt Fund R Acc","page_number":80,"box":{"x":128,"y":367,"width":79,"height":6}},{"id":"8f55dac6-4010-4f73-97f9-9b725a833e1c","block_type":"box","text":"†","page_number":80,"box":{"x":208,"y":367,"width":3,"height":4}},{"id":"742d9cff-00f4-416f-a175-59be7e9295be","block_type":"box","text":"4,547","page_number":80,"box":{"x":370,"y":367,"width":29,"height":7}},{"id":"5aea07d6-334a-4377-899f-515ea21f1e7f","block_type":"box","text":"9.92","page_number":80,"box":{"x":450,"y":367,"width":22,"height":6}},{"id":"522365eb-17ae-4222-967f-be02c63a8dc3","block_type":"box","text":"599,967","page_number":80,"box":{"x":79,"y":377,"width":41,"height":7}},{"id":"0f9e0482-94b0-4845-97cc-3067b0774801","block_type":"box","text":"Royal London Europe ex UK Equity Tilt","page_number":80,"box":{"x":129,"y":377,"width":202,"height":7}},{"id":"4bdfba3b-adab-4745-b2cc-4e5ecdb0759e","block_type":"box","text":"Fund R Acc","page_number":80,"box":{"x":129,"y":386,"width":60,"height":6}},{"id":"ccc20f08-b7df-4262-ba3e-3c913b42de12","block_type":"box","text":"†","page_number":80,"box":{"x":189,"y":386,"width":3,"height":4}},{"id":"431957cf-0662-457e-be9d-5fe7e0197f7b","block_type":"box","text":"1,350","page_number":80,"box":{"x":371,"y":386,"width":28,"height":7}},{"id":"67cb4ffe-2da8-4c6e-a367-773144c1c5ae","block_type":"box","text":"2.94","page_number":80,"box":{"x":450,"y":386,"width":22,"height":6}},{"id":"9926ba55-1d68-47f3-b648-0b381d636801","block_type":"box","text":"1,789,123","page_number":80,"box":{"x":70,"y":396,"width":50,"height":7}},{"id":"92ca2f65-e2a0-410b-8e74-60ff68b478e8","block_type":"box","text":"Royal London Global Equity Diversified","page_number":80,"box":{"x":129,"y":395,"width":202,"height":8}},{"id":"cd425b22-a29a-45fd-9a4b-ab99ab418727","block_type":"box","text":"Fund R Acc","page_number":80,"box":{"x":129,"y":405,"width":60,"height":6}},{"id":"831edb42-6a8b-4d62-8973-1fea671ce638","block_type":"box","text":"†","page_number":80,"box":{"x":189,"y":405,"width":3,"height":4}},{"id":"49a8e930-34a0-4ea8-b8d9-041a178c7310","block_type":"box","text":"5,329","page_number":80,"box":{"x":371,"y":405,"width":28,"height":7}},{"id":"1e035734-de5b-4ac1-bc18-1aba557e2f5e","block_type":"box","text":"11.62","page_number":80,"box":{"x":445,"y":405,"width":27,"height":6}},{"id":"1b2d90dd-3197-4360-96f4-20f1391525c2","block_type":"box","text":"3,103,897","page_number":80,"box":{"x":69,"y":415,"width":51,"height":7}},{"id":"e818655e-fede-401d-a7b1-a164e765bf3a","block_type":"box","text":"Royal London Global Equity Enhanced Fund","page_number":80,"box":{"x":129,"y":414,"width":230,"height":8}},{"id":"82ce97c8-6c9a-4042-af01-9ef70c9a0653","block_type":"box","text":"R Acc","page_number":80,"box":{"x":129,"y":424,"width":30,"height":6}},{"id":"13ab5d83-8afa-4812-a3af-f81d4b80d924","block_type":"box","text":"†","page_number":80,"box":{"x":159,"y":424,"width":3,"height":4}},{"id":"58cf74e5-fd91-4702-8cb4-9f7e2e576e1f","block_type":"box","text":"5,424","page_number":80,"box":{"x":371,"y":424,"width":28,"height":7}},{"id":"fb225248-da6e-4407-9316-c225a85add18","block_type":"box","text":"11.83","page_number":80,"box":{"x":445,"y":424,"width":27,"height":6}},{"id":"1773e6bb-b51b-4a46-b192-46e371bb6984","block_type":"box","text":"1,604,017","page_number":80,"box":{"x":70,"y":434,"width":50,"height":7}},{"id":"4b2e1e9e-4dfe-43cc-ac25-8f53887955a2","block_type":"box","text":"Royal London Global Equity Tilt R Acc","page_number":80,"box":{"x":129,"y":433,"width":197,"height":8}},{"id":"2033c7d1-aedd-48e2-9604-df676b59f7b9","block_type":"box","text":"†","page_number":80,"box":{"x":326,"y":434,"width":4,"height":4}},{"id":"75ee193f-4770-4acb-a95f-0fed0d355de2","block_type":"box","text":"1,787","page_number":80,"box":{"x":371,"y":434,"width":28,"height":7}},{"id":"247a2083-5a36-4a86-a5d0-1d78484b9253","block_type":"box","text":"3.90","page_number":80,"box":{"x":450,"y":434,"width":22,"height":6}},{"id":"18a0ebf7-6bd5-43d8-baf3-f103ef67df92","block_type":"box","text":"391,993","page_number":80,"box":{"x":79,"y":443,"width":41,"height":7}},{"id":"0927758d-60d1-4293-9adc-0fb2fd560e4e","block_type":"box","text":"Royal London Japan Equity Tilt Fund","page_number":80,"box":{"x":129,"y":443,"width":190,"height":8}},{"id":"1a391237-8660-4d2d-90ac-6510b655a6e9","block_type":"box","text":"R Acc","page_number":80,"box":{"x":129,"y":453,"width":30,"height":6}},{"id":"7c6113d2-b5d7-42ca-a798-1ef16e77a756","block_type":"box","text":"†","page_number":80,"box":{"x":159,"y":453,"width":3,"height":4}},{"id":"2b7191f5-d6b8-40c1-b27e-77bfb6f5e511","block_type":"box","text":"732","page_number":80,"box":{"x":380,"y":453,"width":19,"height":6}},{"id":"39dd03ca-47ff-4c60-ae64-67f120331168","block_type":"box","text":"1.60","page_number":80,"box":{"x":451,"y":453,"width":21,"height":6}},{"id":"edcb7868-2e00-47e5-a057-f23d3b1f563b","block_type":"box","text":"126,912","page_number":80,"box":{"x":80,"y":462,"width":40,"height":7}},{"id":"21e90e26-9d11-4637-ae4d-f520897f2fa9","block_type":"box","text":"Royal London Property Fund Income","page_number":80,"box":{"x":129,"y":462,"width":191,"height":8}},{"id":"fd30d2e7-a483-4090-86d9-34b8633f30c8","block_type":"box","text":"†","page_number":80,"box":{"x":321,"y":462,"width":3,"height":4}},{"id":"06282671-e944-4b36-bc46-5939b2bd3370","block_type":"box","text":"380","page_number":80,"box":{"x":380,"y":462,"width":19,"height":6}},{"id":"e1153d88-8c0b-4115-8f9d-7e5313e03390","block_type":"box","text":"0.83","page_number":80,"box":{"x":450,"y":462,"width":22,"height":6}},{"id":"c0f43720-343b-4532-8739-83753a4496e7","block_type":"box","text":"320,275","page_number":80,"box":{"x":79,"y":472,"width":41,"height":7}},{"id":"ce5355d6-da89-40cd-9cd0-07c95448ce8b","block_type":"box","text":"Royal London Property Trust A Acc","page_number":80,"box":{"x":129,"y":472,"width":181,"height":7}},{"id":"b443cf55-d2bf-4ced-b931-b426b99d594b","block_type":"box","text":"†","page_number":80,"box":{"x":310,"y":472,"width":3,"height":4}},{"id":"43d035cd-a88e-455b-8292-a64b8b2fb01b","block_type":"box","text":"2,822","page_number":80,"box":{"x":370,"y":472,"width":29,"height":7}},{"id":"dd2e0cf4-16d8-4dfd-82ad-4fc38d334b23","block_type":"box","text":"6.16","page_number":80,"box":{"x":450,"y":472,"width":22,"height":6}},{"id":"e9ca3c48-23bc-495b-b723-0d2bdb8b95cd","block_type":"box","text":"4,580,836","page_number":80,"box":{"x":69,"y":481,"width":51,"height":7}},{"id":"b9b10c32-85eb-4e84-a1bd-aa52d565978e","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund","page_number":80,"box":{"x":129,"y":481,"width":209,"height":8}},{"id":"a56a9c89-1e41-44f6-8f5b-917e80c4409a","block_type":"box","text":"R Acc","page_number":80,"box":{"x":129,"y":491,"width":30,"height":6}},{"id":"ee00ddef-fb92-4c09-b78c-e60e45480538","block_type":"box","text":"†","page_number":80,"box":{"x":159,"y":491,"width":3,"height":4}},{"id":"2651d2a0-5b8a-4f06-8570-ebfb409251b3","block_type":"box","text":"7,567","page_number":80,"box":{"x":371,"y":491,"width":28,"height":7}},{"id":"4e720aaf-47f0-42ca-8b2a-f4310ca10a7c","block_type":"box","text":"16.50","page_number":80,"box":{"x":444,"y":491,"width":28,"height":6}},{"id":"560d8963-ed4c-4fbc-84a2-e6e918cb7aef","block_type":"box","text":"2,519,053","page_number":80,"box":{"x":69,"y":500,"width":51,"height":7}},{"id":"35746dc5-337b-452e-819b-6230a9d425fe","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":80,"box":{"x":129,"y":500,"width":209,"height":8}},{"id":"0db8e553-9444-4cd4-8beb-f68fe8cdae76","block_type":"box","text":"†","page_number":80,"box":{"x":339,"y":500,"width":3,"height":4}},{"id":"e3d489b1-fb3b-45bd-9e56-6124e563ca2c","block_type":"box","text":"7,081","page_number":80,"box":{"x":371,"y":500,"width":26,"height":7}},{"id":"3bf42a1f-dca3-4c67-ab6c-26aac087fe84","block_type":"box","text":"15.44","page_number":80,"box":{"x":444,"y":500,"width":28,"height":6}},{"id":"4e3098ea-14b5-49c0-a093-19a16d7c06a6","block_type":"box","text":"Total Equity Collective Investment Schemes","page_number":80,"box":{"x":57,"y":516,"width":245,"height":8}},{"id":"246afc1d-e94b-4437-a603-b0278f21806a","block_type":"box","text":"38,143","page_number":80,"box":{"x":364,"y":516,"width":35,"height":8}},{"id":"0146befe-8a19-441c-9e14-8d99fef1d5ac","block_type":"box","text":"83.19","page_number":80,"box":{"x":443,"y":516,"width":29,"height":6}},{"id":"48b218cf-082b-4a42-901f-89140c269222","block_type":"box","text":"Exchange Traded Funds – 5.53%","page_number":80,"box":{"x":58,"y":532,"width":185,"height":8}},{"id":"fba7af75-0673-43ec-a648-0aa675fb86ab","block_type":"box","text":"83,777","page_number":80,"box":{"x":85,"y":542,"width":35,"height":7}},{"id":"836c343f-59ab-4405-88cf-b4b990b01df2","block_type":"box","text":"Invesco Bloomberg Commodity Carbon","page_number":80,"box":{"x":129,"y":542,"width":203,"height":8}},{"id":"e37b2403-dcfe-4cfc-9c2c-2ea558cdb662","block_type":"box","text":"Tilted UCITS ETF","page_number":80,"box":{"x":128,"y":551,"width":92,"height":7}},{"id":"8383100f-311a-4c89-9f37-37ca3c417432","block_type":"box","text":"445","page_number":80,"box":{"x":380,"y":552,"width":19,"height":6}},{"id":"60eb4980-e614-4207-a7f1-a0edc09d95f0","block_type":"box","text":"0.97","page_number":80,"box":{"x":450,"y":552,"width":22,"height":6}},{"id":"6a7b5b56-24c8-467d-8a6d-093bd92ba1b1","block_type":"box","text":"79,091","page_number":80,"box":{"x":86,"y":561,"width":33,"height":7}},{"id":"22b66b71-1ec5-4a98-9f3a-574a047cb373","block_type":"box","text":"iShares Bloomberg Roll Select Commodity","page_number":80,"box":{"x":129,"y":561,"width":221,"height":8}},{"id":"8c7e0a76-299d-4e63-af8f-a69ede3aa182","block_type":"box","text":"Swap UCITS ETF","page_number":80,"box":{"x":129,"y":570,"width":92,"height":8}},{"id":"32e3ec16-eae2-437b-b185-c06644d78fc0","block_type":"box","text":"597","page_number":80,"box":{"x":380,"y":571,"width":19,"height":6}},{"id":"d524728d-c93d-4335-8d7b-dd36eec3daac","block_type":"box","text":"1.30","page_number":80,"box":{"x":451,"y":571,"width":21,"height":6}},{"id":"8a04f37e-227c-4ff5-b638-6174074386d6","block_type":"box","text":"1,492","page_number":80,"box":{"x":93,"y":580,"width":27,"height":7}},{"id":"f7510f88-a05b-4635-9e3b-6e0dc99fb9e5","block_type":"box","text":"iShares MSCI Canada UCITS ETF","page_number":80,"box":{"x":129,"y":580,"width":180,"height":6}},{"id":"84a2898d-3485-4978-859e-b9a6b8398b2a","block_type":"box","text":"336","page_number":80,"box":{"x":380,"y":580,"width":19,"height":6}},{"id":"8cfbb303-8ef4-4191-a479-99ed2ab179d2","block_type":"box","text":"0.73","page_number":80,"box":{"x":450,"y":580,"width":22,"height":6}},{"id":"97a09be2-fdab-47b1-8d30-e95e2553ac40","block_type":"box","text":"35,898","page_number":80,"box":{"x":85,"y":590,"width":35,"height":7}},{"id":"083f3fb1-9caa-4df1-926a-c77132ad0f75","block_type":"box","text":"UBS (IRL) Fund Solutions – UCITS ETF","page_number":80,"box":{"x":129,"y":589,"width":208,"height":8}},{"id":"ee108ea9-9f1c-4547-924a-2ad08f3711fa","block_type":"box","text":"B Acc","page_number":80,"box":{"x":129,"y":599,"width":29,"height":6}},{"id":"f5ff345c-7a58-4a80-84fd-bdb0ece6e66a","block_type":"box","text":"567","page_number":80,"box":{"x":380,"y":599,"width":19,"height":6}},{"id":"6d79baf7-451f-40f1-8c5f-12d4dcbe56f1","block_type":"box","text":"1.24","page_number":80,"box":{"x":451,"y":599,"width":21,"height":6}},{"id":"df429233-a932-444c-80b6-c75c63225b86","block_type":"box","text":"39,267","page_number":80,"box":{"x":85,"y":609,"width":35,"height":7}},{"id":"b04a8dd0-77a0-4fa1-aa7e-4d8663ab0f52","block_type":"box","text":"Wisdomtree Enhanced Commodity","page_number":80,"box":{"x":128,"y":608,"width":182,"height":8}},{"id":"2feccf45-5a74-4577-bab8-36eb25fd5b0e","block_type":"box","text":"UCITS ETF","page_number":80,"box":{"x":129,"y":618,"width":59,"height":6}},{"id":"2aba9f2f-0e05-40a8-9f20-3999b53d47c5","block_type":"box","text":"592","page_number":80,"box":{"x":380,"y":618,"width":19,"height":6}},{"id":"1c5f69d4-b6b5-423d-bdcc-85c20e8f23ff","block_type":"box","text":"1.29","page_number":80,"box":{"x":451,"y":618,"width":21,"height":6}},{"id":"719ea37f-7aa8-4d0c-bddd-aa638a53280e","block_type":"box","text":"Total Exchange Traded Funds","page_number":80,"box":{"x":57,"y":634,"width":165,"height":8}},{"id":"5d4d9033-68e8-488c-89ec-9dfbce2a276e","block_type":"box","text":"2,537","page_number":80,"box":{"x":370,"y":634,"width":29,"height":8}},{"id":"6d1c118e-f6a6-4dcc-b555-089599d19c47","block_type":"box","text":"5.53","page_number":80,"box":{"x":450,"y":634,"width":22,"height":6}},{"id":"273e564a-ed92-426e-9299-b21eb9aef516","block_type":"box","text":"Forward Currency Contracts – 0.06%","page_number":80,"box":{"x":58,"y":650,"width":210,"height":8}},{"id":"c2891208-5987-4c29-afb6-5c7dd3be903d","block_type":"box","text":"Buy AUD285,616 & Sell £151,415*","page_number":80,"box":{"x":129,"y":660,"width":180,"height":8}},{"id":"d3083afe-bfa1-4136-ae5a-46a25a66370d","block_type":"box","text":"(3)","page_number":80,"box":{"x":390,"y":660,"width":13,"height":8}},{"id":"7e28b692-df86-4596-a20f-34bd4a91bb00","block_type":"box","text":"(0.01)","page_number":80,"box":{"x":446,"y":660,"width":30,"height":8}},{"id":"583cc486-fb96-4258-833f-1d4a05e67504","block_type":"box","text":"Buy £265,758 & Sell AUD504,829*","page_number":80,"box":{"x":129,"y":669,"width":180,"height":8}},{"id":"b0e07597-d5ad-47e1-bf9d-158bc0c2acd2","block_type":"box","text":"2","page_number":80,"box":{"x":393,"y":670,"width":6,"height":5}},{"id":"5d1411f1-5682-4b1b-8740-f2cac96552c3","block_type":"box","text":"–","page_number":80,"box":{"x":466,"y":673,"width":6,"height":1}},{"id":"657116df-c7fa-48df-b79d-afdaed7b7e3c","block_type":"box","text":"Buy £64 & Sell CAD121*","page_number":80,"box":{"x":129,"y":679,"width":128,"height":8}},{"id":"a2290b41-9fd4-4003-bbb2-ac86cacacf4b","block_type":"box","text":"–","page_number":80,"box":{"x":393,"y":683,"width":6,"height":0}},{"id":"49da377d-c3c8-4c09-917b-ce2ac4affe24","block_type":"box","text":"–","page_number":80,"box":{"x":466,"y":683,"width":6,"height":0}},{"id":"43bf4ffe-dd89-4072-bc60-6f8f5763cab3","block_type":"box","text":"Buy £117,597 & Sell CHF125,046*","page_number":80,"box":{"x":129,"y":688,"width":179,"height":8}},{"id":"99fac8e3-5d12-43d4-9530-b14147b252ad","block_type":"box","text":"1","page_number":80,"box":{"x":394,"y":689,"width":3,"height":5}},{"id":"07d61d07-8723-4e49-8d35-45dec60b36ae","block_type":"box","text":"–","page_number":80,"box":{"x":466,"y":692,"width":6,"height":1}},{"id":"e5095aca-2459-4449-b862-277b4fb27bec","block_type":"box","text":"Buy £170,047 & Sell SEK2,140,823*","page_number":80,"box":{"x":129,"y":698,"width":189,"height":8}},{"id":"9beb49b4-0ca6-4005-b47b-07c72d57ec2a","block_type":"box","text":"3","page_number":80,"box":{"x":393,"y":698,"width":6,"height":6}},{"id":"76a39606-b0c5-4bd2-b1a9-0ecdc32e302e","block_type":"box","text":"0.01","page_number":80,"box":{"x":450,"y":698,"width":20,"height":6}},{"id":"e7860620-b968-41fb-a9c6-2e50d7f36e02","block_type":"box","text":"Buy £126,670 & Sell $167,610*","page_number":80,"box":{"x":129,"y":707,"width":162,"height":8}},{"id":"0ea2956a-23a6-4565-8077-351070d02ece","block_type":"box","text":"–","page_number":80,"box":{"x":393,"y":711,"width":6,"height":1}},{"id":"b6e38ae7-d53a-4827-a5ed-cba580c6474e","block_type":"box","text":"–","page_number":80,"box":{"x":466,"y":711,"width":6,"height":1}},{"id":"9d4e583a-e701-411c-a974-9ac797e0e41c","block_type":"box","text":"Buy £183,726 & Sell NOK2,350,182*","page_number":80,"box":{"x":129,"y":717,"width":191,"height":8}},{"id":"d6873679-a450-4c55-bb37-5ea4c72c7c80","block_type":"box","text":"5","page_number":80,"box":{"x":393,"y":717,"width":6,"height":6}},{"id":"e6be97e2-dfd0-47c7-8c9c-32ee0fb48d66","block_type":"box","text":"0.01","page_number":80,"box":{"x":450,"y":717,"width":20,"height":6}},{"id":"e3a56840-89ac-4cc5-9f25-04a6a4faa35c","block_type":"box","text":"Buy £403,352 & Sell €465,512*","page_number":80,"box":{"x":129,"y":726,"width":162,"height":8}},{"id":"1bf10257-2a40-4a0b-b918-9a9a4386e017","block_type":"box","text":"2","page_number":80,"box":{"x":393,"y":727,"width":6,"height":6}},{"id":"9437af3b-f2f5-4803-843f-efe63162b43c","block_type":"box","text":"0.01","page_number":80,"box":{"x":450,"y":727,"width":20,"height":6}},{"id":"32e8b8dc-b494-4f61-91d9-f5042ea0e24b","block_type":"box","text":"Buy JPY66,386,277 & Sell £309,298*","page_number":80,"box":{"x":129,"y":736,"width":193,"height":8}},{"id":"f052624c-a97c-4a4c-984d-3fe4f6ab4439","block_type":"box","text":"(1)","page_number":80,"box":{"x":390,"y":736,"width":13,"height":8}},{"id":"5016243a-9833-4485-ba19-87b6fdec03ff","block_type":"box","text":"–","page_number":80,"box":{"x":466,"y":740,"width":6,"height":0}},{"id":"4cb2256f-2c53-4334-8a71-7056ce98df68","block_type":"box","text":"Buy SEK1,045,945 & Sell £82,763*","page_number":80,"box":{"x":129,"y":745,"width":182,"height":8}},{"id":"c5449151-4cb4-43da-8d1e-70c1d18accbb","block_type":"box","text":"(1)","page_number":80,"box":{"x":390,"y":745,"width":13,"height":8}},{"id":"06b9918d-1ffa-4c86-9a62-46c1f6695652","block_type":"box","text":"–","page_number":80,"box":{"x":466,"y":749,"width":6,"height":1}},{"id":"8ae0b882-1bbe-4f06-ac56-fbe4cf5710aa","block_type":"box","text":"Buy SGD185,458 & Sell £108,046*","page_number":80,"box":{"x":129,"y":755,"width":181,"height":8}},{"id":"0f7b4a4d-8a21-4ef0-b535-14f7db849e85","block_type":"box","text":"–","page_number":80,"box":{"x":393,"y":759,"width":6,"height":0}},{"id":"9c94f079-31dd-45c7-833f-0af1644100fb","block_type":"box","text":"–","page_number":80,"box":{"x":466,"y":759,"width":6,"height":0}},{"id":"d5a7711c-c1b1-4702-84dd-52a1a9c0746e","block_type":"box","text":"Buy $2,313,710 & Sell £1,724,367*","page_number":80,"box":{"x":129,"y":764,"width":182,"height":8}},{"id":"12a8c178-852b-497d-96d1-b5c68c6c4ca2","block_type":"box","text":"19","page_number":80,"box":{"x":388,"y":765,"width":11,"height":6}},{"id":"0f409aba-0d48-4839-8345-aa1480ec9641","block_type":"box","text":"0.04","page_number":80,"box":{"x":450,"y":765,"width":22,"height":6}},{"id":"af0d672d-7867-458f-9f73-54ad7cac26cd","block_type":"box","text":"Total Forward Currency Contracts","page_number":80,"box":{"x":57,"y":781,"width":189,"height":7}},{"id":"e48518ed-4cc9-481c-9fda-a4fef160ea21","block_type":"box","text":"27","page_number":80,"box":{"x":387,"y":781,"width":12,"height":6}},{"id":"b8b28c41-a840-4d5c-8472-b29dad9c53bd","block_type":"box","text":"0.06","page_number":80,"box":{"x":450,"y":781,"width":22,"height":6}},{"id":"c95f43f9-1d13-452f-881c-1d596dd62d5d","block_type":"box","text":"Holding","page_number":80,"box":{"x":58,"y":177,"width":43,"height":8}},{"id":"1556b8a6-6deb-400a-bd2c-140fca37c786","block_type":"box","text":"Investment","page_number":80,"box":{"x":129,"y":177,"width":63,"height":6}},{"id":"0c19b4f4-5116-4da4-ba17-4229332a4a51","block_type":"box","text":"Mid-market","page_number":80,"box":{"x":337,"y":158,"width":65,"height":6}},{"id":"1f0b200e-4cc2-41f5-b3e6-7cd20652b42f","block_type":"box","text":"value","page_number":80,"box":{"x":371,"y":168,"width":30,"height":6}},{"id":"88b0931c-ab34-4aea-9c65-ec097f2189e2","block_type":"box","text":"(£’000)","page_number":80,"box":{"x":364,"y":177,"width":37,"height":8}},{"id":"bba3d5b2-6e1c-46ef-8663-96fdca7c59a3","block_type":"box","text":"Total net","page_number":80,"box":{"x":424,"y":168,"width":49,"height":6}},{"id":"aa2e827d-4872-48e5-a09f-7ed6b979acfb","block_type":"box","text":"assets (%)","page_number":80,"box":{"x":414,"y":177,"width":59,"height":8}},{"id":"f6c076ea-a2b8-44f9-8476-3249e45f390e","block_type":"box","text":"Holding","page_number":80,"box":{"x":522,"y":177,"width":43,"height":8}},{"id":"cfedaf30-6d4c-4222-b19d-e54aae815a92","block_type":"box","text":"Investment","page_number":80,"box":{"x":593,"y":177,"width":63,"height":6}},{"id":"7b001cca-07db-4023-abc8-8dfb1c6b982e","block_type":"box","text":"Mid-market","page_number":80,"box":{"x":802,"y":158,"width":64,"height":6}},{"id":"5f57f611-68fc-436b-a360-6480259b52a7","block_type":"box","text":"value","page_number":80,"box":{"x":835,"y":168,"width":31,"height":6}},{"id":"006e48ca-b03c-4c5a-aa58-b906165d46cc","block_type":"box","text":"(£’000)","page_number":80,"box":{"x":828,"y":177,"width":38,"height":8}},{"id":"a6d91497-6698-4355-b763-154287542f34","block_type":"box","text":"Total net","page_number":80,"box":{"x":888,"y":168,"width":49,"height":6}},{"id":"8328c0bb-447d-4696-868b-f4fd0dee4447","block_type":"box","text":"assets (%)","page_number":80,"box":{"x":879,"y":177,"width":58,"height":8}},{"id":"3e27f21f-1861-4d27-8085-d757f327b3be","block_type":"box","text":"Futures – 0.05%","page_number":80,"box":{"x":522,"y":202,"width":90,"height":7}},{"id":"b3ea68e0-7a88-4f60-892f-395fd4e50d95","block_type":"box","text":"4","page_number":80,"box":{"x":579,"y":212,"width":6,"height":6}},{"id":"6e018094-ac94-4970-835a-1e7c7c22de77","block_type":"box","text":"CBT Bloomberg Commodity Index Future","page_number":80,"box":{"x":593,"y":212,"width":214,"height":8}},{"id":"beca6969-8bd4-43a0-87c3-94c4bba6f82a","block_type":"box","text":"September 2026","page_number":80,"box":{"x":593,"y":221,"width":86,"height":8}},{"id":"c82c01a2-81f5-485c-a4ab-c37ba5d6f703","block_type":"box","text":"4","page_number":80,"box":{"x":857,"y":221,"width":6,"height":6}},{"id":"2339619a-1aa5-45d3-aff8-1f7842e609ac","block_type":"box","text":"0.01","page_number":80,"box":{"x":914,"y":221,"width":20,"height":7}},{"id":"8f1b371e-9e7a-4285-8fb3-8092fcafa12c","block_type":"box","text":"5","page_number":80,"box":{"x":579,"y":231,"width":6,"height":6}},{"id":"0e45eee8-1717-4b98-9c15-a5328d33bc81","block_type":"box","text":"CBT US 10Year Note Future September 2026","page_number":80,"box":{"x":593,"y":231,"width":237,"height":8}},{"id":"1ba6dfb6-3c05-47f6-a7e6-89768166664e","block_type":"box","text":"–","page_number":80,"box":{"x":857,"y":234,"width":7,"height":1}},{"id":"f47ce556-2d0f-4e44-bf42-30f825667ad3","block_type":"box","text":"–","page_number":80,"box":{"x":930,"y":234,"width":7,"height":1}},{"id":"bcd4cb91-4060-48bf-82b5-e369fd713a81","block_type":"box","text":"2","page_number":80,"box":{"x":579,"y":240,"width":6,"height":6}},{"id":"cb5166bc-57ad-403d-9b2f-7045855eba4a","block_type":"box","text":"CME S&P500 E-Mini Commodity Series","page_number":80,"box":{"x":593,"y":240,"width":207,"height":8}},{"id":"492876b2-613f-4d36-9300-7efa7b453738","block_type":"box","text":"2","page_number":80,"box":{"x":858,"y":240,"width":5,"height":6}},{"id":"009c913c-baab-4f98-b765-dc04119725b1","block_type":"box","text":"–","page_number":80,"box":{"x":930,"y":244,"width":7,"height":1}},{"id":"38498041-8ddc-47e8-9997-37f7c92666cd","block_type":"box","text":"4","page_number":80,"box":{"x":579,"y":250,"width":6,"height":6}},{"id":"335ec9c3-cddf-45ef-b3ac-7b615e323b7a","block_type":"box","text":"CME S&P500 E-Mini Consumer Services","page_number":80,"box":{"x":593,"y":250,"width":214,"height":6}},{"id":"17e018e8-f871-4eb2-96a8-db3d7170f909","block_type":"box","text":"September 2026","page_number":80,"box":{"x":593,"y":259,"width":86,"height":8}},{"id":"911cea8f-7aea-42cd-b277-d55468cdaa13","block_type":"box","text":"(2)","page_number":80,"box":{"x":854,"y":259,"width":13,"height":8}},{"id":"e93d7bf6-0ebb-42d4-b879-96821b279492","block_type":"box","text":"(0.01)","page_number":80,"box":{"x":911,"y":259,"width":29,"height":8}},{"id":"384ec15f-07f4-4a08-8ead-37262470b761","block_type":"box","text":"6","page_number":80,"box":{"x":579,"y":269,"width":6,"height":6}},{"id":"ce473066-e840-4130-b997-1d60465ce56d","block_type":"box","text":"CME XAB Materials Future September 2026","page_number":80,"box":{"x":593,"y":269,"width":230,"height":8}},{"id":"7db85cf7-c534-45e1-8d83-6fa61c1cfe98","block_type":"box","text":"1","page_number":80,"box":{"x":859,"y":269,"width":3,"height":6}},{"id":"0be7bfd6-b49a-4f9c-a200-da32da015711","block_type":"box","text":"–","page_number":80,"box":{"x":930,"y":272,"width":7,"height":1}},{"id":"65bd0d1d-b381-447d-957e-6fe4635dc96e","block_type":"box","text":"1","page_number":80,"box":{"x":580,"y":278,"width":3,"height":6}},{"id":"e85ba5b7-0a1f-42d9-8a5e-bf50142911fc","block_type":"box","text":"CME XAE Energy Future September 2026","page_number":80,"box":{"x":593,"y":278,"width":220,"height":8}},{"id":"90d02d75-2d5b-45e9-b604-20c619f90d2a","block_type":"box","text":"8","page_number":80,"box":{"x":858,"y":278,"width":5,"height":7}},{"id":"aba9599e-ec0a-4a30-8bfb-1d08618f75c1","block_type":"box","text":"0.02","page_number":80,"box":{"x":914,"y":278,"width":22,"height":7}},{"id":"135012d7-66fd-47ea-9e4d-4a807debcbf6","block_type":"box","text":"(1)","page_number":80,"box":{"x":572,"y":288,"width":13,"height":8}},{"id":"34b53ce4-49b9-4228-a08d-73580aa67480","block_type":"box","text":"CME XAF Financial Future September 2026","page_number":80,"box":{"x":593,"y":288,"width":229,"height":8}},{"id":"d5f5fa2f-32b0-4534-abe4-8de6635e9bae","block_type":"box","text":"–","page_number":80,"box":{"x":857,"y":291,"width":7,"height":1}},{"id":"f34a1763-f191-4b45-93a6-76f3689b4373","block_type":"box","text":"–","page_number":80,"box":{"x":930,"y":291,"width":7,"height":1}},{"id":"40109d4c-5e97-49d9-a83a-ce1f0bd57508","block_type":"box","text":"2","page_number":80,"box":{"x":579,"y":297,"width":6,"height":6}},{"id":"429182fc-3f07-457e-a1a9-f5c62640c721","block_type":"box","text":"CME XAK Technology Future September 2026","page_number":80,"box":{"x":593,"y":297,"width":242,"height":8}},{"id":"009d80bd-03f2-4aef-b296-174ef26c30d7","block_type":"box","text":"(4)","page_number":80,"box":{"x":854,"y":297,"width":13,"height":8}},{"id":"39b19932-075e-4d91-a51d-b27e0ab418b2","block_type":"box","text":"(0.01)","page_number":80,"box":{"x":911,"y":297,"width":29,"height":8}},{"id":"6d1c05b6-0ef2-4cfd-928b-052ea367c162","block_type":"box","text":"6","page_number":80,"box":{"x":579,"y":307,"width":6,"height":6}},{"id":"04e29faa-623d-47d0-99f8-153660aae083","block_type":"box","text":"CME XAP Consumer Staples Futures","page_number":80,"box":{"x":593,"y":307,"width":195,"height":8}},{"id":"5565fa25-0cfa-449f-a1b9-778a128d3a62","block_type":"box","text":"September 2026","page_number":80,"box":{"x":593,"y":316,"width":86,"height":8}},{"id":"1d2ab13a-5dd7-4443-b669-26ec9cc8fb97","block_type":"box","text":"(1)","page_number":80,"box":{"x":854,"y":316,"width":13,"height":8}},{"id":"991dc57c-58c6-4e93-8cb6-88f6bff101f0","block_type":"box","text":"–","page_number":80,"box":{"x":930,"y":320,"width":7,"height":1}},{"id":"b7a7cdd4-11a3-4797-8d7b-9e923fd2f7fa","block_type":"box","text":"1","page_number":80,"box":{"x":580,"y":326,"width":3,"height":6}},{"id":"845d39c4-571f-48a4-8412-3f74a12bea53","block_type":"box","text":"CME XAU Utilities Future September 2026","page_number":80,"box":{"x":593,"y":326,"width":221,"height":8}},{"id":"ed8b0d0b-0620-4fda-a767-a45256401414","block_type":"box","text":"(11)","page_number":80,"box":{"x":848,"y":326,"width":19,"height":8}},{"id":"102f8bd4-3c61-4893-a2e0-cac761339ad4","block_type":"box","text":"(0.02)","page_number":80,"box":{"x":911,"y":326,"width":29,"height":8}},{"id":"0a021e71-d99a-49cf-ae66-9470521401ee","block_type":"box","text":"3","page_number":80,"box":{"x":579,"y":335,"width":6,"height":7}},{"id":"4d902364-5af3-4c27-9275-dc3348bfafe5","block_type":"box","text":"CME XAV Health Care Future September","page_number":80,"box":{"x":593,"y":335,"width":216,"height":8}},{"id":"881d24eb-457a-4531-8c18-c960cac9cf60","block_type":"box","text":"2026","page_number":80,"box":{"x":593,"y":345,"width":25,"height":6}},{"id":"33b4f401-7f22-4883-9db5-b36332d63613","block_type":"box","text":"13","page_number":80,"box":{"x":852,"y":345,"width":11,"height":6}},{"id":"becdc61c-9570-429d-81f4-a8931409ee9d","block_type":"box","text":"0.03","page_number":80,"box":{"x":914,"y":345,"width":22,"height":6}},{"id":"e2b09cea-2eba-40e2-8326-eb6ac8e96194","block_type":"box","text":"1","page_number":80,"box":{"x":580,"y":354,"width":3,"height":6}},{"id":"b2468046-2054-4172-bc7e-a3edadfd6450","block_type":"box","text":"CME XAY Consumer Discretionary Future","page_number":80,"box":{"x":593,"y":354,"width":217,"height":8}},{"id":"e5571904-ee8c-4e0d-a9bd-e7f762249ca3","block_type":"box","text":"September 2026","page_number":80,"box":{"x":593,"y":364,"width":86,"height":8}},{"id":"ea65edf1-ccb4-42b2-bed3-ea6e80932af4","block_type":"box","text":"(10)","page_number":80,"box":{"x":848,"y":364,"width":19,"height":8}},{"id":"ab112158-2928-4bf2-9323-2c4a3bc6ab9b","block_type":"box","text":"(0.02)","page_number":80,"box":{"x":911,"y":364,"width":29,"height":8}},{"id":"ad28297f-281f-411e-b0b9-c7e281ffdeba","block_type":"box","text":"1","page_number":80,"box":{"x":580,"y":373,"width":3,"height":6}},{"id":"9b086d96-ffce-41c2-9755-a2cec85ec44a","block_type":"box","text":"EUX Euro Stoxx 50 Future September 2026","page_number":80,"box":{"x":593,"y":373,"width":228,"height":8}},{"id":"f1559add-595e-4921-9e34-370ed8e37e3e","block_type":"box","text":"9","page_number":80,"box":{"x":858,"y":373,"width":5,"height":7}},{"id":"88be0047-d346-4d59-9588-28ef72ec6ed6","block_type":"box","text":"0.02","page_number":80,"box":{"x":914,"y":373,"width":22,"height":7}},{"id":"96977033-76ee-416c-867a-ebb055044aac","block_type":"box","text":"6","page_number":80,"box":{"x":579,"y":383,"width":6,"height":6}},{"id":"98aff5d4-84bb-45cd-b185-33f1224ed285","block_type":"box","text":"HKG Mini Hang Seng Index Future July","page_number":80,"box":{"x":593,"y":383,"width":205,"height":8}},{"id":"1d9b3f41-c1f1-4978-9d7b-bdc27cb3f68a","block_type":"box","text":"2026","page_number":80,"box":{"x":593,"y":392,"width":25,"height":7}},{"id":"bbab9064-8192-4dc5-a639-8b68a3f3e8d9","block_type":"box","text":"9","page_number":80,"box":{"x":858,"y":392,"width":5,"height":7}},{"id":"74355312-5019-48da-bff1-8e1a4e650f0c","block_type":"box","text":"0.02","page_number":80,"box":{"x":914,"y":392,"width":22,"height":7}},{"id":"71672e42-82ee-4f8b-b215-4de9ee260f92","block_type":"box","text":"1","page_number":80,"box":{"x":580,"y":402,"width":3,"height":6}},{"id":"a2ce64ec-ec76-4080-afd2-16a1e4e7d23c","block_type":"box","text":"ICF FTSE 100 Index Future September 2026","page_number":80,"box":{"x":593,"y":402,"width":233,"height":8}},{"id":"e7750b63-471e-43f1-93c1-a6a71caa237a","block_type":"box","text":"(5)","page_number":80,"box":{"x":854,"y":402,"width":13,"height":8}},{"id":"039da5d0-121b-4675-9ecc-089add0c9554","block_type":"box","text":"(0.01)","page_number":80,"box":{"x":911,"y":402,"width":29,"height":8}},{"id":"3f22befb-ca4a-4934-9aa1-796071948291","block_type":"box","text":"1","page_number":80,"box":{"x":580,"y":411,"width":3,"height":6}},{"id":"8c9c4b7a-64fb-4b0c-8f25-76a7cd0629b3","block_type":"box","text":"ICF Long Gilt Future September 2026","page_number":80,"box":{"x":593,"y":411,"width":196,"height":8}},{"id":"d1c3a4ed-f08a-4f19-927b-52016fbf7f54","block_type":"box","text":"(2)","page_number":80,"box":{"x":854,"y":411,"width":13,"height":8}},{"id":"650af1fe-efa5-41b1-9ac4-0aac0bd6378e","block_type":"box","text":"(0.01)","page_number":80,"box":{"x":911,"y":411,"width":29,"height":8}},{"id":"3b81923b-8f8d-4fac-9cf1-a7b39ac35cfd","block_type":"box","text":"1","page_number":80,"box":{"x":580,"y":421,"width":3,"height":6}},{"id":"2d0f530a-7647-448e-aaa4-5f30a6fc7abf","block_type":"box","text":"NYF MSCI Emerging Market Future","page_number":80,"box":{"x":593,"y":421,"width":185,"height":8}},{"id":"bfe059a6-50f3-4961-a6b3-b7fb4c293046","block_type":"box","text":"September 2026","page_number":80,"box":{"x":593,"y":430,"width":86,"height":8}},{"id":"4f1f2ff7-a83d-43dc-8303-db4e80512ad5","block_type":"box","text":"(17)","page_number":80,"box":{"x":848,"y":430,"width":19,"height":8}},{"id":"1f99c51e-6365-4d8d-b01c-896de18b3a54","block_type":"box","text":"(0.04)","page_number":80,"box":{"x":911,"y":430,"width":29,"height":8}},{"id":"e1a3fd79-79c0-4cb7-af54-81f4c84f8644","block_type":"box","text":"4","page_number":80,"box":{"x":579,"y":440,"width":6,"height":6}},{"id":"38e52a41-ff86-46c7-9451-f05b4fb81ac9","block_type":"box","text":"OSE Mini Topix Index Future September","page_number":80,"box":{"x":593,"y":440,"width":210,"height":8}},{"id":"86049fa8-2c69-4ae0-b5fe-489fbe7d1016","block_type":"box","text":"2026","page_number":80,"box":{"x":593,"y":450,"width":25,"height":6}},{"id":"f4fe693c-3ae0-4373-87ee-9c8a073e5830","block_type":"box","text":"4","page_number":80,"box":{"x":857,"y":450,"width":6,"height":5}},{"id":"90d2aa2c-d966-4ef6-804f-e6742eeec90c","block_type":"box","text":"0.01","page_number":80,"box":{"x":914,"y":450,"width":20,"height":6}},{"id":"b367c8f3-e9a4-4c21-b8a7-84214ddc01a9","block_type":"box","text":"4","page_number":80,"box":{"x":579,"y":459,"width":6,"height":6}},{"id":"72767543-932e-41b6-8a3a-5082beadbe96","block_type":"box","text":"OSE NIKKEI 225 Mini September 2026","page_number":80,"box":{"x":593,"y":459,"width":203,"height":8}},{"id":"ec02f959-1625-448a-9022-e24c89432881","block_type":"box","text":"12","page_number":80,"box":{"x":852,"y":459,"width":11,"height":6}},{"id":"9a8da1d1-e5f7-4ce3-b379-96dfecbc08cd","block_type":"box","text":"0.03","page_number":80,"box":{"x":914,"y":459,"width":22,"height":6}},{"id":"2303b255-cd17-46f1-b423-57f03f0eb29a","block_type":"box","text":"1","page_number":80,"box":{"x":580,"y":469,"width":3,"height":5}},{"id":"9319fc12-79f2-435f-afb8-702a67c472dc","block_type":"box","text":"SFE SPI 200 Future September 2026","page_number":80,"box":{"x":593,"y":468,"width":194,"height":8}},{"id":"1680c82e-86f7-4f60-ac2e-8e8155ea3ab3","block_type":"box","text":"13","page_number":80,"box":{"x":852,"y":469,"width":11,"height":6}},{"id":"c79c45c9-0f0e-4fe2-9c61-4d8b99f1478d","block_type":"box","text":"0.03","page_number":80,"box":{"x":914,"y":469,"width":22,"height":6}},{"id":"bf43d0d4-2d6c-4d53-b76e-d605e54b5bae","block_type":"box","text":"Total Futures","page_number":80,"box":{"x":521,"y":485,"width":73,"height":6}},{"id":"b1cbd2f1-ccd0-4b7a-a97c-5d0f6f05c8fd","block_type":"box","text":"23","page_number":80,"box":{"x":851,"y":485,"width":12,"height":6}},{"id":"c2c90c2d-e6ee-410d-909d-28b6845bfe4c","block_type":"box","text":"0.05","page_number":80,"box":{"x":914,"y":485,"width":22,"height":6}},{"id":"7272d17b-16b4-4276-84cf-d3c6b0a2150c","block_type":"box","text":"Total value of investments","page_number":80,"box":{"x":521,"y":527,"width":146,"height":6}},{"id":"4ba16f97-d4cd-4520-8151-3f6994183c84","block_type":"box","text":"^","page_number":80,"box":{"x":668,"y":527,"width":3,"height":2}},{"id":"30697c03-0f23-4ee6-8afd-0c190a0d1d8e","block_type":"box","text":"45,204","page_number":80,"box":{"x":828,"y":527,"width":36,"height":7}},{"id":"13eabd30-88d4-40d2-b98c-4a816d5f44c9","block_type":"box","text":"98.59","page_number":80,"box":{"x":908,"y":527,"width":28,"height":6}},{"id":"e5262685-24c2-4a1a-a34e-192fddef9965","block_type":"box","text":"Net other assets","page_number":80,"box":{"x":522,"y":543,"width":90,"height":6}},{"id":"64409b33-0513-46c1-9f3e-b35e5c97a52c","block_type":"box","text":"646","page_number":80,"box":{"x":845,"y":543,"width":18,"height":6}},{"id":"f32e6109-47ba-4d64-8b1b-749a893f6c3b","block_type":"box","text":"1.41","page_number":80,"box":{"x":915,"y":543,"width":20,"height":6}},{"id":"5532e57b-d4fd-4dac-9740-a27479d909bb","block_type":"box","text":"Total net assets","page_number":80,"box":{"x":521,"y":559,"width":87,"height":6}},{"id":"84b3641f-fc76-442c-8e3f-641058d38345","block_type":"box","text":"45,850","page_number":80,"box":{"x":828,"y":559,"width":35,"height":7}},{"id":"31a1f468-6884-462b-8714-82ab5143a98c","block_type":"box","text":"100.00","page_number":80,"box":{"x":902,"y":559,"width":34,"height":6}},{"id":"6d2a2dc5-6ff1-461c-b611-0019d173b426","block_type":"box","text":"†","page_number":80,"box":{"x":521,"y":577,"width":4,"height":4}},{"id":"6b1743dc-bd5f-4e49-be22-54b2c85d59a3","block_type":"box","text":"Related Party","page_number":80,"box":{"x":529,"y":577,"width":72,"height":7}},{"id":"8cee73e5-96a4-43a5-b22b-b847a1266947","block_type":"box","text":"* Unlisted","page_number":80,"box":{"x":521,"y":591,"width":51,"height":6}},{"id":"16304d0d-9abf-474b-886e-439a7396fbfc","block_type":"box","text":"^","page_number":80,"box":{"x":521,"y":605,"width":3,"height":2}},{"id":"cd1edf70-62ee-4f7d-ba13-3aeb60a062e8","block_type":"box","text":"Including investment liabilities","page_number":80,"box":{"x":529,"y":605,"width":157,"height":7}},{"id":"b8437726-0898-44f5-8379-9ab7ea80594d","block_type":"box","text":"The Fund launched on 9 January 2026, hence there are no comparatives.","page_number":80,"box":{"x":521,"y":619,"width":391,"height":8}},{"id":"7f4643ef-2a81-493e-b3e4-6580ba0352d9","block_type":"box","text":"All investments, except collective investment schemes and forward currency","page_number":80,"box":{"x":521,"y":633,"width":421,"height":8}},{"id":"9de7e4aa-c9fc-4ba1-9674-de0b7277824a","block_type":"box","text":"contracts, are listed on recognised stock exchanges and are “approved","page_number":80,"box":{"x":521,"y":643,"width":420,"height":8}},{"id":"18a87ea9-d89d-4e0e-8c7d-852c8dfabda1","block_type":"box","text":"securities” within the meaning of the FCA rules unless otherwise stated.","page_number":80,"box":{"x":521,"y":654,"width":381,"height":8}},{"id":"ad952ac3-c86a-4549-a53e-6dbb99eb9677","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":80,"box":{"x":454,"y":33,"width":459,"height":8}},{"id":"cdaff33d-18aa-4f23-a00a-0a6b24ab31b2","block_type":"box","text":"80","page_number":80,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"e780abea-b58b-4909-96b2-f1295135cc1a","block_type":"box","text":"Summary of Material Portfolio Changes","page_number":81,"box":{"x":57,"y":94,"width":470,"height":14}},{"id":"75ccfd8e-51fe-43a9-ab99-58cc08f483fe","block_type":"box","text":"For the period 9 January 2026 to 30 June 2026","page_number":81,"box":{"x":58,"y":113,"width":317,"height":10}},{"id":"0c359fb2-01ad-423e-8707-f15a9ba5b217","block_type":"box","text":"Significant Purchases","page_number":81,"box":{"x":57,"y":151,"width":203,"height":11}},{"id":"4907fbfa-6c0b-4985-bcd7-06e1c7e8f2f7","block_type":"box","text":"Cost","page_number":81,"box":{"x":447,"y":177,"width":26,"height":6}},{"id":"1ad313ae-de0a-450e-911e-87892c6dd5a8","block_type":"box","text":"£’000","page_number":81,"box":{"x":443,"y":186,"width":30,"height":6}},{"id":"3a74b9ba-eb20-4f48-8200-61f1abf2df11","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":81,"box":{"x":58,"y":205,"width":214,"height":7}},{"id":"1eae1a59-4036-4802-b13f-66d778412442","block_type":"box","text":"8,470","page_number":81,"box":{"x":444,"y":205,"width":29,"height":7}},{"id":"38a1868f-6a86-46b8-b970-562adc0a41b7","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":81,"box":{"x":58,"y":222,"width":249,"height":8}},{"id":"f80334a2-61fa-47d5-a42e-afcad55d6eb4","block_type":"box","text":"8,404","page_number":81,"box":{"x":443,"y":222,"width":30,"height":7}},{"id":"1d4b48a9-e13c-45f0-aa2d-0ad3b0cfb489","block_type":"box","text":"Royal London Global Equity Enhanced Fund R Acc","page_number":81,"box":{"x":58,"y":240,"width":270,"height":7}},{"id":"d8cd54a1-a7a8-4f2d-ac60-a7049cea0319","block_type":"box","text":"5,147","page_number":81,"box":{"x":446,"y":240,"width":27,"height":7}},{"id":"82a84436-0497-40c9-9a52-7ce7abdd8d3c","block_type":"box","text":"Royal London Global Equity Diversified Fund R Acc","page_number":81,"box":{"x":58,"y":257,"width":273,"height":8}},{"id":"372a59e8-7fd7-4aee-8ecc-4ca1600f6c40","block_type":"box","text":"5,127","page_number":81,"box":{"x":445,"y":257,"width":28,"height":7}},{"id":"53342fc8-2966-4c1e-b9d0-8d746b0d493d","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":81,"box":{"x":58,"y":275,"width":295,"height":7}},{"id":"d00b073b-7641-4e64-a946-e36923578232","block_type":"box","text":"4,626","page_number":81,"box":{"x":443,"y":275,"width":30,"height":7}},{"id":"a692b1ec-f160-4e71-972e-d52f2db3dd88","block_type":"box","text":"Royal London Property Trust A Acc","page_number":81,"box":{"x":58,"y":292,"width":187,"height":8}},{"id":"b5fce329-ad93-4ed6-a9f1-d7f82c5009f1","block_type":"box","text":"3,100","page_number":81,"box":{"x":445,"y":292,"width":28,"height":7}},{"id":"f8bc6595-5180-4605-80db-21625038ba80","block_type":"box","text":"Royal London Global Equity Tilt R Acc","page_number":81,"box":{"x":58,"y":310,"width":202,"height":7}},{"id":"b0bfe452-ee38-4db3-9bf6-29cf3c53f4da","block_type":"box","text":"1,665","page_number":81,"box":{"x":445,"y":310,"width":28,"height":7}},{"id":"08864948-0413-4007-9f10-6baeee2a122b","block_type":"box","text":"Royal London Europe ex UK Equity Tilt Fund R Acc","page_number":81,"box":{"x":58,"y":327,"width":272,"height":8}},{"id":"7e9870db-7df2-4f98-b05f-a69f5ed46ad6","block_type":"box","text":"1,302","page_number":81,"box":{"x":445,"y":327,"width":28,"height":7}},{"id":"ea67ff37-9e85-46ca-a491-a3174a9738c4","block_type":"box","text":"Royal London Global High Yield Bond Fund R Acc","page_number":81,"box":{"x":58,"y":345,"width":266,"height":7}},{"id":"4ffdb5e8-49ab-44b1-9803-de84e92eda47","block_type":"box","text":"1,168","page_number":81,"box":{"x":446,"y":345,"width":27,"height":7}},{"id":"e558d301-3ddc-47ba-b363-b32d19a44aa5","block_type":"box","text":"iShares Bloomberg Roll Select Commodity Swap UCITS ETF","page_number":81,"box":{"x":57,"y":362,"width":326,"height":8}},{"id":"fbadc8a4-b1a3-480a-a978-6c60e3622270","block_type":"box","text":"1,145","page_number":81,"box":{"x":446,"y":362,"width":27,"height":7}},{"id":"2d4ef8df-4849-4965-84b5-858406ac5c1e","block_type":"box","text":"Subtotal","page_number":81,"box":{"x":57,"y":380,"width":48,"height":6}},{"id":"35f9c0a0-c145-48cd-80fd-fd7e1d238a13","block_type":"box","text":"40,154","page_number":81,"box":{"x":438,"y":380,"width":35,"height":7}},{"id":"60f1d2d9-e078-4b16-b056-9e1ada384ef7","block_type":"box","text":"Total cost of purchases, including the above, for the period","page_number":81,"box":{"x":57,"y":397,"width":339,"height":8}},{"id":"cee7dbe2-5a3f-46db-a356-755273d4a084","block_type":"box","text":"46,285","page_number":81,"box":{"x":436,"y":397,"width":37,"height":8}},{"id":"ef763ed8-b11f-4112-b6f2-b3dc6a56a8ca","block_type":"box","text":"Significant Sales","page_number":81,"box":{"x":522,"y":151,"width":156,"height":11}},{"id":"50e7ac31-63e6-4e91-b6cc-256ea463604a","block_type":"box","text":"Proceeds","page_number":81,"box":{"x":884,"y":177,"width":53,"height":6}},{"id":"f2d8b53b-d1c5-4e7a-984c-77042c0d3839","block_type":"box","text":"£’000","page_number":81,"box":{"x":907,"y":186,"width":30,"height":6}},{"id":"9a3392b9-ac34-4a57-833c-e1ad9cfedacb","block_type":"box","text":"Royal London US Equity Tilt Fund R Acc","page_number":81,"box":{"x":522,"y":205,"width":214,"height":7}},{"id":"ddcd173a-424c-40af-93be-0b35089fa77f","block_type":"box","text":"2,060","page_number":81,"box":{"x":907,"y":205,"width":30,"height":7}},{"id":"49f6aeb0-9e10-4cfb-9432-1e1f96f41eef","block_type":"box","text":"Royal London UK Broad Equity Tilt Fund R Acc","page_number":81,"box":{"x":522,"y":222,"width":250,"height":8}},{"id":"d031873a-a1cf-432d-b6e1-32350f88b366","block_type":"box","text":"1,311","page_number":81,"box":{"x":911,"y":222,"width":24,"height":7}},{"id":"f43a3893-6771-4c31-aa63-5680ab645e61","block_type":"box","text":"Royal London Emerging Markets Equity Tilt Fund R Acc","page_number":81,"box":{"x":522,"y":240,"width":295,"height":7}},{"id":"e3c47bb8-efbb-4936-bb52-4612ccf3d73d","block_type":"box","text":"829","page_number":81,"box":{"x":918,"y":240,"width":19,"height":6}},{"id":"f287f4e9-6178-470f-86f0-91e937ec9222","block_type":"box","text":"iShares Bloomberg Roll Select Commodity Swap UCITS ETF","page_number":81,"box":{"x":522,"y":257,"width":325,"height":8}},{"id":"f43df083-7c27-41ef-9a70-01d2443982a4","block_type":"box","text":"715","page_number":81,"box":{"x":919,"y":257,"width":18,"height":6}},{"id":"21fe9baf-d029-4747-9082-b984d0e16996","block_type":"box","text":"Royal London Global High Yield Bond Fund R Acc","page_number":81,"box":{"x":522,"y":275,"width":266,"height":7}},{"id":"2310c813-40d6-43c5-a32c-bcfd1dc3d537","block_type":"box","text":"380","page_number":81,"box":{"x":918,"y":275,"width":19,"height":6}},{"id":"f180c815-4485-4839-aa35-b0b8b73766bc","block_type":"box","text":"Royal London Property Trust A Acc","page_number":81,"box":{"x":522,"y":292,"width":187,"height":8}},{"id":"e5fbc79e-9198-406e-8f46-f0935f97511c","block_type":"box","text":"330","page_number":81,"box":{"x":918,"y":292,"width":19,"height":6}},{"id":"c63dbec0-d967-4ab8-99b1-a3b66f7fc4ce","block_type":"box","text":"Royal London Global Equity Diversified Fund R Acc","page_number":81,"box":{"x":522,"y":310,"width":274,"height":7}},{"id":"35de88a1-0326-409e-8949-b279920691fb","block_type":"box","text":"250","page_number":81,"box":{"x":918,"y":310,"width":19,"height":6}},{"id":"2d093b91-8334-4322-b7e5-8510be1f0179","block_type":"box","text":"Royal London Global Equity Enhanced Fund R Acc","page_number":81,"box":{"x":522,"y":327,"width":271,"height":8}},{"id":"a96e8a6d-511d-4147-81da-a2401324ae24","block_type":"box","text":"158","page_number":81,"box":{"x":919,"y":327,"width":18,"height":6}},{"id":"7484a5a2-b1a5-4344-b033-6ffa2db48d3b","block_type":"box","text":"Invesco Physical Gold ETC","page_number":81,"box":{"x":522,"y":345,"width":144,"height":7}},{"id":"25a439fa-cf4a-469e-b75e-eda7d797f2d3","block_type":"box","text":"158","page_number":81,"box":{"x":919,"y":345,"width":18,"height":6}},{"id":"3c378b35-ae24-45fa-bd9c-1ca1223dbc76","block_type":"box","text":"iShares Physical Gold ETC","page_number":81,"box":{"x":522,"y":362,"width":144,"height":8}},{"id":"3fbf7dae-c4c2-4718-a00b-aeb467d153b8","block_type":"box","text":"101","page_number":81,"box":{"x":919,"y":362,"width":16,"height":6}},{"id":"cdcef6dc-8553-4de8-aa99-a64a0d0a17a2","block_type":"box","text":"Subtotal","page_number":81,"box":{"x":521,"y":380,"width":48,"height":6}},{"id":"4086cfef-b7f0-4195-9306-a35fea080a90","block_type":"box","text":"6,292","page_number":81,"box":{"x":907,"y":380,"width":30,"height":7}},{"id":"51c6dfcc-da98-4c5b-a63f-5bc10eb56019","block_type":"box","text":"Total proceeds from sales, including the above, for the period","page_number":81,"box":{"x":521,"y":397,"width":347,"height":8}},{"id":"6013838b-ba37-4f25-8605-d341884a9472","block_type":"box","text":"6,551","page_number":81,"box":{"x":908,"y":397,"width":28,"height":8}},{"id":"078c2e62-0a6d-431e-bf6b-605a23efff60","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":81,"box":{"x":454,"y":33,"width":459,"height":8}},{"id":"24e19b84-c084-4408-934c-bd5caee29a07","block_type":"box","text":"81","page_number":81,"box":{"x":930,"y":33,"width":10,"height":6}},{"id":"d8f66b4a-e2c9-4f35-900c-7928986eac76","block_type":"box","text":"Financial Statements","page_number":82,"box":{"x":58,"y":94,"width":253,"height":11}},{"id":"2ef55b1b-5a80-425c-8a5a-c7b983d01383","block_type":"box","text":"Statement of Total Return","page_number":82,"box":{"x":57,"y":151,"width":241,"height":9}},{"id":"d4f8943c-d7d1-40e6-b112-7dbf1d63c71c","block_type":"box","text":"For the period 9 January 2026 to 30 June 2026","page_number":82,"box":{"x":58,"y":169,"width":317,"height":10}},{"id":"8430d89f-a9db-4ec1-80b5-972f4bbebb4f","block_type":"box","text":"30 Jun 2026*","page_number":82,"box":{"x":402,"y":198,"width":71,"height":6}},{"id":"e753aa7a-047c-4850-bbfa-c38629973ddf","block_type":"box","text":"£’000","page_number":82,"box":{"x":371,"y":207,"width":30,"height":6}},{"id":"1b810373-0573-4e93-bb6e-e1454c682bb1","block_type":"box","text":"£’000","page_number":82,"box":{"x":443,"y":207,"width":30,"height":6}},{"id":"00d391aa-55f5-48cc-85c3-32f3ce48e39f","block_type":"box","text":"Income","page_number":82,"box":{"x":58,"y":226,"width":38,"height":6}},{"id":"67822f6d-aac0-4179-909e-ef4ef3333340","block_type":"box","text":"Net capital gains","page_number":82,"box":{"x":69,"y":243,"width":88,"height":8}},{"id":"5d255b2b-a8e0-4c29-b4bd-6a03ecc3d3fc","block_type":"box","text":"3,618","page_number":82,"box":{"x":444,"y":243,"width":29,"height":8}},{"id":"56c8357f-7a6f-4345-9736-0ed4873ce0e2","block_type":"box","text":"Revenue","page_number":82,"box":{"x":69,"y":261,"width":47,"height":6}},{"id":"3c9d5150-47b9-45f9-9a65-cb34034923c2","block_type":"box","text":"152","page_number":82,"box":{"x":384,"y":261,"width":17,"height":6}},{"id":"ab31c354-36a9-440f-a556-f8d27ae8d962","block_type":"box","text":"Expenses","page_number":82,"box":{"x":58,"y":278,"width":51,"height":8}},{"id":"782e774f-4f9a-45d4-86c2-7b8d60806383","block_type":"box","text":"(23)","page_number":82,"box":{"x":386,"y":278,"width":19,"height":8}},{"id":"016b391b-c24f-4943-8bf0-c6510d542c3d","block_type":"box","text":"Interest payable and similar charges","page_number":82,"box":{"x":58,"y":296,"width":192,"height":8}},{"id":"f616a79d-7bba-43ce-bc33-1a13d4eb6370","block_type":"box","text":"–","page_number":82,"box":{"x":395,"y":299,"width":7,"height":1}},{"id":"e1c5dc9c-6d73-4fac-92fd-f0393c23d65c","block_type":"box","text":"Net revenue before taxation","page_number":82,"box":{"x":58,"y":313,"width":146,"height":6}},{"id":"3d8c1eba-9bb0-4574-b843-5e9d3ae96739","block_type":"box","text":"129","page_number":82,"box":{"x":384,"y":313,"width":17,"height":6}},{"id":"03029caa-3ed2-4ca9-a275-40793b52ee6e","block_type":"box","text":"Taxation","page_number":82,"box":{"x":57,"y":331,"width":44,"height":6}},{"id":"39379e41-2d70-4b48-af56-11d7b9af6384","block_type":"box","text":"(16)","page_number":82,"box":{"x":386,"y":331,"width":19,"height":8}},{"id":"e8f8b849-473f-46a8-be29-3726e2df8cae","block_type":"box","text":"Net revenue after taxation","page_number":82,"box":{"x":58,"y":348,"width":137,"height":6}},{"id":"87b22805-340f-473e-8d3c-d289bffd1aeb","block_type":"box","text":"113","page_number":82,"box":{"x":456,"y":348,"width":17,"height":6}},{"id":"67db0566-a89b-4cf0-a0ee-c2fed1a15a3c","block_type":"box","text":"Total return before distributions","page_number":82,"box":{"x":57,"y":366,"width":166,"height":6}},{"id":"506df56f-9d47-4aa2-ba4c-32862985a68a","block_type":"box","text":"3,731","page_number":82,"box":{"x":444,"y":366,"width":27,"height":7}},{"id":"eb081794-2d4a-46d8-b22d-b5045e50f9bd","block_type":"box","text":"Distributions","page_number":82,"box":{"x":58,"y":383,"width":65,"height":6}},{"id":"56b4c4d5-0ff9-4fac-8bae-b595450cc05c","block_type":"box","text":"(113)","page_number":82,"box":{"x":452,"y":383,"width":25,"height":8}},{"id":"1a1c54ed-f3b9-46f2-b3f0-b586ef88706c","block_type":"box","text":"Change in net assets attributable to","page_number":82,"box":{"x":57,"y":401,"width":205,"height":8}},{"id":"39b632b5-5564-47f4-a0b5-b9f72d69eb4f","block_type":"box","text":"shareholders from investment activities","page_number":82,"box":{"x":57,"y":410,"width":230,"height":6}},{"id":"2d571fe6-f2ce-4446-91dc-d6bcd85cc7ba","block_type":"box","text":"3,618","page_number":82,"box":{"x":444,"y":401,"width":29,"height":7}},{"id":"c2deec38-d20e-4bdb-8d81-89cd2d3476a3","block_type":"box","text":"Statement of Change in Net Assets","page_number":82,"box":{"x":57,"y":456,"width":332,"height":11}},{"id":"b0f300b7-f37e-45e2-99ea-a92a25a39136","block_type":"box","text":"Attributable to Shareholders","page_number":82,"box":{"x":57,"y":470,"width":265,"height":9}},{"id":"9a5d318a-6f19-43c7-b29e-d41d568657c5","block_type":"box","text":"For the period 9 January 2026 to 30 June 2026","page_number":82,"box":{"x":58,"y":488,"width":317,"height":10}},{"id":"715db2ce-63c3-4581-b54d-c721747904ef","block_type":"box","text":"30 Jun 2026*","page_number":82,"box":{"x":402,"y":517,"width":71,"height":6}},{"id":"aa0c4fb5-cf9f-448b-b1e5-839f8effe343","block_type":"box","text":"£’000","page_number":82,"box":{"x":371,"y":526,"width":30,"height":6}},{"id":"3b3ec373-fd26-43a4-9afe-ba9c9494e589","block_type":"box","text":"£’000","page_number":82,"box":{"x":443,"y":526,"width":30,"height":6}},{"id":"8a8f7625-0dcd-48a7-b171-e99a7c1eb77e","block_type":"box","text":"Opening net assets attributable to shareholders","page_number":82,"box":{"x":57,"y":545,"width":276,"height":7}},{"id":"8a7a0121-2e4b-4dc5-b17c-79c802bb5582","block_type":"box","text":"–","page_number":82,"box":{"x":467,"y":548,"width":6,"height":1}},{"id":"80044ff4-c258-4d1b-a568-78f3bc9a8f79","block_type":"box","text":"Issue of shares","page_number":82,"box":{"x":58,"y":562,"width":80,"height":6}},{"id":"cd75a6f2-a19c-4288-add0-e0ac59300af8","block_type":"box","text":"42,361","page_number":82,"box":{"x":365,"y":562,"width":35,"height":7}},{"id":"d150c6e1-afe6-46cf-8daf-fc6bc4af67a2","block_type":"box","text":"Cancellation of shares","page_number":82,"box":{"x":57,"y":580,"width":119,"height":6}},{"id":"c7de63f6-0810-4e37-ab60-b6d35cf0d281","block_type":"box","text":"(241)","page_number":82,"box":{"x":380,"y":580,"width":25,"height":7}},{"id":"9496e130-34af-403c-8b40-b5af51e127b7","block_type":"box","text":"42,120","page_number":82,"box":{"x":438,"y":597,"width":35,"height":7}},{"id":"492a28b7-4af9-44c7-a725-928117adadcb","block_type":"box","text":"Dilution adjustment","page_number":82,"box":{"x":58,"y":615,"width":101,"height":7}},{"id":"809fcd20-5c55-4647-966d-e824cc38e132","block_type":"box","text":"8","page_number":82,"box":{"x":467,"y":615,"width":6,"height":6}},{"id":"19db0d57-af4b-4f96-aaf2-c545b9052cff","block_type":"box","text":"Stamp duty reserve tax","page_number":82,"box":{"x":57,"y":632,"width":124,"height":8}},{"id":"7227e228-f7b4-4220-b145-eb03ffa9d403","block_type":"box","text":"(17)","page_number":82,"box":{"x":458,"y":632,"width":19,"height":8}},{"id":"c5ba504b-5b12-4410-8a05-91aed1be6907","block_type":"box","text":"Change in net assets attributable to shareholders","page_number":82,"box":{"x":57,"y":650,"width":262,"height":7}},{"id":"0c18957e-ac4c-4f67-a600-061ea55a2be9","block_type":"box","text":"from investment activities","page_number":82,"box":{"x":57,"y":659,"width":135,"height":6}},{"id":"4e0c18af-76b9-49b6-9607-6e0ec94ad87c","block_type":"box","text":"3,618","page_number":82,"box":{"x":444,"y":650,"width":29,"height":7}},{"id":"e21b219d-e6a4-4d40-b3f9-b3d26515beda","block_type":"box","text":"Retained distributions on accumulation shares","page_number":82,"box":{"x":58,"y":677,"width":245,"height":6}},{"id":"eeb2e60f-558f-4ecb-a1a1-5884a926357c","block_type":"box","text":"121","page_number":82,"box":{"x":455,"y":677,"width":16,"height":6}},{"id":"5a0cb049-ab44-48bb-863e-9b9e9e28de29","block_type":"box","text":"Closing net assets attributable to shareholders","page_number":82,"box":{"x":57,"y":694,"width":271,"height":8}},{"id":"da46dd48-3548-4447-b4d8-345aa60c6230","block_type":"box","text":"45,850","page_number":82,"box":{"x":436,"y":694,"width":37,"height":7}},{"id":"0dc060d8-491f-49b7-9334-2d861008505d","block_type":"box","text":"* The Fund launched on 9 January 2026, hence there are no comparatives.","page_number":82,"box":{"x":57,"y":718,"width":399,"height":7}},{"id":"65210b4c-d7bf-4a83-8d7a-5fc958795c63","block_type":"box","text":"Balance Sheet","page_number":82,"box":{"x":522,"y":151,"width":134,"height":9}},{"id":"31b9b885-afbf-4ef6-b148-c1dbf5e60d75","block_type":"box","text":"As at 30","page_number":82,"box":{"x":521,"y":169,"width":55,"height":8}},{"id":"beaa2410-96af-42ec-baf6-d993d7c68df4","block_type":"box","text":"June 2026","page_number":82,"box":{"x":582,"y":169,"width":70,"height":8}},{"id":"e7360c84-1c52-4f63-99bf-2c6572f13bad","block_type":"box","text":"30 Jun 2026*","page_number":82,"box":{"x":866,"y":198,"width":71,"height":6}},{"id":"0d471cb5-a4d1-483b-8f02-b371ae1b811c","block_type":"box","text":"£’000","page_number":82,"box":{"x":907,"y":207,"width":30,"height":6}},{"id":"9783b2a6-4d4e-4e27-9c83-710a1b5d0912","block_type":"box","text":"Assets","page_number":82,"box":{"x":521,"y":226,"width":39,"height":6}},{"id":"19b77ba1-9774-48ec-a111-d99641ccf1dc","block_type":"box","text":"Investments","page_number":82,"box":{"x":522,"y":243,"width":63,"height":6}},{"id":"63a90137-5192-4e8d-8302-871db2353da3","block_type":"box","text":"45,261","page_number":82,"box":{"x":901,"y":243,"width":34,"height":7}},{"id":"530b418d-c82a-46c8-81a1-2178703245dc","block_type":"box","text":"Amounts receivable","page_number":82,"box":{"x":521,"y":261,"width":106,"height":6}},{"id":"6a21aad3-f7c7-43d4-a3fa-a7678e45947f","block_type":"box","text":"26","page_number":82,"box":{"x":925,"y":261,"width":12,"height":6}},{"id":"87557edc-2a2a-4fd3-936d-88b8ac4d1103","block_type":"box","text":"Cash and cash","page_number":82,"box":{"x":522,"y":278,"width":78,"height":6}},{"id":"6097ae92-5e28-4929-a291-2bda02aeaecb","block_type":"box","text":"equivalents","page_number":82,"box":{"x":521,"y":288,"width":61,"height":7}},{"id":"729eecd0-2d3a-4180-927e-75e2e2ae2bf3","block_type":"box","text":"885","page_number":82,"box":{"x":918,"y":278,"width":19,"height":6}},{"id":"3a26574b-d7d6-4036-8924-b0ac11ad67fc","block_type":"box","text":"Total assets","page_number":82,"box":{"x":521,"y":305,"width":64,"height":6}},{"id":"930f6207-b1d7-4c13-89e2-db793efd841a","block_type":"box","text":"46,172","page_number":82,"box":{"x":903,"y":305,"width":34,"height":7}},{"id":"0ec189f2-f307-40aa-bb4f-28952cdc1e5c","block_type":"box","text":"Liabilities","page_number":82,"box":{"x":522,"y":323,"width":55,"height":6}},{"id":"6f4b6a4d-f336-42d3-acfb-4fb47187f087","block_type":"box","text":"Investments","page_number":82,"box":{"x":522,"y":340,"width":63,"height":6}},{"id":"8c97199d-b156-4f0c-8c62-0994b7f28f67","block_type":"box","text":"57","page_number":82,"box":{"x":925,"y":340,"width":12,"height":6}},{"id":"eb4bab68-5212-4058-96a7-6478952b561b","block_type":"box","text":"Bank overdrafts","page_number":82,"box":{"x":522,"y":358,"width":83,"height":6}},{"id":"3eb75573-0ffb-49ad-8da4-1e1ccaa79da8","block_type":"box","text":"208","page_number":82,"box":{"x":918,"y":358,"width":19,"height":6}},{"id":"9ffe157b-bb3d-406d-869f-570dba36de9d","block_type":"box","text":"Other amounts payable","page_number":82,"box":{"x":521,"y":375,"width":124,"height":8}},{"id":"0df719b8-a2d7-4cd2-80dc-f56c5d3bde14","block_type":"box","text":"57","page_number":82,"box":{"x":925,"y":375,"width":12,"height":6}},{"id":"405663dd-3ffc-46c7-87c9-baf9414ebee2","block_type":"box","text":"Total liabilities","page_number":82,"box":{"x":521,"y":393,"width":75,"height":6}},{"id":"49b9e22a-2ae9-4827-a989-8a2a1da21cd6","block_type":"box","text":"322","page_number":82,"box":{"x":918,"y":393,"width":19,"height":6}},{"id":"0c287baf-011c-4308-bf16-8adde4ce7dfe","block_type":"box","text":"Net assets","page_number":82,"box":{"x":522,"y":410,"width":59,"height":6}},{"id":"424170e2-cbe2-4669-8009-4b59cc30bb41","block_type":"box","text":"attributable to","page_number":82,"box":{"x":521,"y":420,"width":82,"height":6}},{"id":"da04db62-1831-44a4-8606-37a8972123af","block_type":"box","text":"shareholders","page_number":82,"box":{"x":521,"y":429,"width":76,"height":6}},{"id":"582d55e7-0bde-46d9-9c15-f1d8e096fbdf","block_type":"box","text":"45,850","page_number":82,"box":{"x":900,"y":410,"width":37,"height":8}},{"id":"913f548e-cc0c-4dab-a98b-dfb08268f2a7","block_type":"box","text":"* The Fund launched on 9 January 2026, hence there are no comparatives.","page_number":82,"box":{"x":521,"y":453,"width":399,"height":7}},{"id":"0ac3fd10-2478-4407-b5d4-6f8682d19879","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":82,"box":{"x":454,"y":33,"width":459,"height":8}},{"id":"7da93cd7-83eb-415a-bf52-fdbfe69e61e1","block_type":"box","text":"82","page_number":82,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"a2714466-d061-420b-bf4c-353f9ba1ba19","block_type":"box","text":"Notes to the Financial Statements","page_number":83,"box":{"x":58,"y":94,"width":409,"height":11}},{"id":"d8d637a7-e0c9-4bc3-9d50-d902bf250fb1","block_type":"box","text":"For the six month period ended 30","page_number":83,"box":{"x":58,"y":113,"width":231,"height":10}},{"id":"96156f63-f4b8-4b7f-9da9-6044fdbcad00","block_type":"box","text":"June 2026","page_number":83,"box":{"x":294,"y":113,"width":70,"height":8}},{"id":"816588c5-cd74-4803-8ce6-faafdd767cea","block_type":"box","text":"1. Accounting policies","page_number":83,"box":{"x":58,"y":151,"width":205,"height":11}},{"id":"5b5bdb4e-ab5d-403a-a442-e34447ecad25","block_type":"box","text":"The accounting policies are set out in note 1 on pages","page_number":83,"box":{"x":57,"y":169,"width":404,"height":10}},{"id":"49372c91-e1bc-4416-949a-e423ac2f0764","block_type":"box","text":"5","page_number":83,"box":{"x":470,"y":170,"width":7,"height":7}},{"id":"67eb785e-0373-427f-be01-738fe62c0b2a","block_type":"box","text":"and","page_number":83,"box":{"x":57,"y":184,"width":24,"height":8}},{"id":"5c157f90-301e-4a6c-87f5-c5a4db6181e3","block_type":"box","text":"6","page_number":83,"box":{"x":87,"y":184,"width":7,"height":8}},{"id":"aaa47392-e443-407f-aef8-192788e7a2df","block_type":"box","text":".","page_number":83,"box":{"x":96,"y":190,"width":2,"height":1}},{"id":"1696930e-67be-42e8-abc8-980f64fe6608","block_type":"box","text":"2. Related party transactions","page_number":83,"box":{"x":57,"y":210,"width":272,"height":12}},{"id":"1b452397-dac7-4874-b9c3-84468cc9580d","block_type":"box","text":"The Fund’s Authorised Corporate Director, Royal London","page_number":83,"box":{"x":57,"y":229,"width":420,"height":10}},{"id":"2d5ea99f-a272-47f2-b77a-99319a1afb92","block_type":"box","text":"Unit Trust Managers Limited, is a related party to the Fund","page_number":83,"box":{"x":58,"y":243,"width":419,"height":10}},{"id":"6cc7e4b8-5b43-41d6-bf6c-b5b8a56f97eb","block_type":"box","text":"as defined by Financial Reporting Standard 102 ‘Related","page_number":83,"box":{"x":57,"y":257,"width":420,"height":10}},{"id":"fb255929-93d7-48bd-942e-ce58d0e38279","block_type":"box","text":"Party Disclosures’.","page_number":83,"box":{"x":58,"y":272,"width":124,"height":10}},{"id":"6a8585cf-2106-4266-9365-0186150b2ad9","block_type":"box","text":"Fund Management fees charged by Royal London Unit Trust","page_number":83,"box":{"x":58,"y":293,"width":420,"height":10}},{"id":"f9addba7-d62d-446d-a351-877dcf904965","block_type":"box","text":"Managers Limited are disclosed within the expenses figure","page_number":83,"box":{"x":58,"y":307,"width":419,"height":10}},{"id":"bc57b9ea-03a1-4552-b6e1-f587a411d510","block_type":"box","text":"shown on the Statement of Total Return and details of shares","page_number":83,"box":{"x":57,"y":321,"width":421,"height":8}},{"id":"8c9545c1-fec8-4922-a408-f87c1c62818c","block_type":"box","text":"created and cancelled by Royal London Unit Trust Managers","page_number":83,"box":{"x":57,"y":336,"width":421,"height":9}},{"id":"c4e4f5a9-1280-4ba9-babf-c7fcb8dd82d8","block_type":"box","text":"Limited are shown in the Statement of Change in Net Assets","page_number":83,"box":{"x":58,"y":350,"width":420,"height":10}},{"id":"9ea3cf3a-faa6-4ab9-8da3-1eebc6f1a68f","block_type":"box","text":"Attributable to Shareholders and the Distribution figure shown","page_number":83,"box":{"x":57,"y":364,"width":420,"height":10}},{"id":"4ed63a68-718b-4bbe-a3ed-93349800062c","block_type":"box","text":"on the Statement of Total Return.","page_number":83,"box":{"x":57,"y":378,"width":223,"height":8}},{"id":"6e256b46-18e0-4b0f-83d6-185cd06a8982","block_type":"box","text":"At the period end the balance due to Royal London Unit","page_number":83,"box":{"x":57,"y":399,"width":421,"height":10}},{"id":"4945cecc-4d5d-4567-8864-572b696b66d4","block_type":"box","text":"Trust Managers Limited in respect of these transactions was","page_number":83,"box":{"x":57,"y":413,"width":420,"height":10}},{"id":"653cf983-d079-4221-a817-2d4a6f8b1173","block_type":"box","text":"£48,000.","page_number":83,"box":{"x":57,"y":428,"width":58,"height":9}},{"id":"c5bfcd29-7bbb-4efd-8b27-acadcb520f77","block_type":"box","text":"Amounts due from Royal London Unit Trust Managers Limited in","page_number":83,"box":{"x":57,"y":449,"width":420,"height":10}},{"id":"f2c7a52b-0eaa-492f-9e3b-3acf43c1c4d2","block_type":"box","text":"respect of periodic charge rebates at the period end amounted","page_number":83,"box":{"x":58,"y":463,"width":419,"height":10}},{"id":"60e9a159-32a4-4f6e-b1c1-758d5ccc1c96","block_type":"box","text":"to £20,000.","page_number":83,"box":{"x":57,"y":477,"width":75,"height":10}},{"id":"604da986-0a5d-431b-8554-6540052b6c24","block_type":"box","text":"At the period end, 30 June 2026, 99.48% of the shares in issue","page_number":83,"box":{"x":57,"y":498,"width":420,"height":10}},{"id":"62c766bd-80b9-4374-933e-923174641980","block_type":"box","text":"were held by The Royal London Mutual Insurance Society","page_number":83,"box":{"x":57,"y":512,"width":421,"height":10}},{"id":"098fb186-3038-4c99-9a2f-cc82189d1445","block_type":"box","text":"Limited. Royal London Unit Trust Managers Limited is a wholly","page_number":83,"box":{"x":58,"y":527,"width":420,"height":10}},{"id":"109f64cb-7a08-4cad-aa6e-4a5dc6c7e241","block_type":"box","text":"owned subsidiary of The Royal London Mutual Insurance","page_number":83,"box":{"x":57,"y":541,"width":420,"height":10}},{"id":"4994f6c7-a7ed-4626-b386-c4db1e8c185f","block_type":"box","text":"Society Limited.","page_number":83,"box":{"x":57,"y":555,"width":107,"height":10}},{"id":"93ebec78-4e5d-4215-b967-e69b6903675a","block_type":"box","text":"3. Fair value of investments","page_number":83,"box":{"x":522,"y":151,"width":255,"height":9}},{"id":"500fbd18-80a6-4f28-ab8f-0a052c4f7af8","block_type":"box","text":"The fair values of the Fund’s assets and liabilities are","page_number":83,"box":{"x":521,"y":169,"width":421,"height":8}},{"id":"3632a072-9966-4b89-887b-b643300a0547","block_type":"box","text":"represented by the values shown in the balance sheet. There","page_number":83,"box":{"x":522,"y":184,"width":420,"height":10}},{"id":"cef11ae5-cadc-4ba3-96c8-94bcf8fb7486","block_type":"box","text":"is no material difference between the value of the financial","page_number":83,"box":{"x":522,"y":198,"width":419,"height":8}},{"id":"cb355663-c2e3-4551-b1f2-4923b44c354c","block_type":"box","text":"assets and liabilities, as shown in the balance sheet, and their","page_number":83,"box":{"x":521,"y":212,"width":422,"height":9}},{"id":"2d9f7ea6-2fb4-41d2-a9d1-af2587fa127c","block_type":"box","text":"fair value.","page_number":83,"box":{"x":521,"y":226,"width":64,"height":8}},{"id":"e79c5e74-838c-4700-9753-da2c717a9cee","block_type":"box","text":"The fair value of investments has been determined using the","page_number":83,"box":{"x":521,"y":247,"width":421,"height":10}},{"id":"12c71351-9e57-4e70-bfcf-123dace656d1","block_type":"box","text":"following hierarchy:","page_number":83,"box":{"x":521,"y":262,"width":130,"height":10}},{"id":"2813f891-8643-4c96-b373-45c91c094ca4","block_type":"box","text":"Level 1","page_number":83,"box":{"x":522,"y":283,"width":45,"height":7}},{"id":"a4d360ea-0421-4cf7-a9e7-34e3dba1358b","block_type":"box","text":"The unadjusted quoted price in an active market","page_number":83,"box":{"x":593,"y":283,"width":349,"height":10}},{"id":"fbc77b8c-dbd0-4b65-8786-240adfce6dfd","block_type":"box","text":"for identical assets or liabilities that the entity can","page_number":83,"box":{"x":592,"y":297,"width":349,"height":10}},{"id":"566928b9-c4c3-4bcf-8397-1defba9a24aa","block_type":"box","text":"access at the measurement date.","page_number":83,"box":{"x":593,"y":311,"width":224,"height":8}},{"id":"e4f82575-bc53-47ab-b44f-14b084c81f57","block_type":"box","text":"Level 2","page_number":83,"box":{"x":522,"y":332,"width":47,"height":8}},{"id":"9c70e84a-53bf-4d30-8649-4d01116f4a0d","block_type":"box","text":"Inputs other than quoted prices included within","page_number":83,"box":{"x":594,"y":332,"width":347,"height":10}},{"id":"a9b4dc49-9995-4928-8a1f-97ccd9945c1f","block_type":"box","text":"Level 1 that are observable (i.e. developed using","page_number":83,"box":{"x":593,"y":346,"width":348,"height":10}},{"id":"4ed4c6bb-6ac5-4547-9006-ae0a11f3c152","block_type":"box","text":"market data) for the asset or liability, either directly","page_number":83,"box":{"x":593,"y":361,"width":349,"height":10}},{"id":"058898a4-b342-4c7e-846d-dd0e7ae8b090","block_type":"box","text":"or indirectly.","page_number":83,"box":{"x":593,"y":375,"width":80,"height":10}},{"id":"e98dc811-37ac-4742-a586-efda33a74dd6","block_type":"box","text":"Level 3","page_number":83,"box":{"x":522,"y":396,"width":47,"height":8}},{"id":"fafbdc67-a2d6-4d5d-8234-153f83a3dcbe","block_type":"box","text":"Inputs are unobservable (i.e. for which market data","page_number":83,"box":{"x":594,"y":396,"width":348,"height":10}},{"id":"7becef7a-0bb8-43c4-8e1a-a324cb0431fb","block_type":"box","text":"is unavailable) for the asset or liability.","page_number":83,"box":{"x":593,"y":410,"width":255,"height":10}},{"id":"cfaba9a7-7301-4318-a1b6-80ec99a3cb91","block_type":"box","text":"As at the period ended 30","page_number":83,"box":{"x":521,"y":431,"width":186,"height":10}},{"id":"4979bb79-4e62-4273-baaa-d997b3ac5fe1","block_type":"box","text":"June 2026","page_number":83,"box":{"x":713,"y":431,"width":73,"height":8}},{"id":"df91d56e-1806-4065-85e9-871b3f047085","block_type":"box","text":"Level","page_number":83,"box":{"x":522,"y":456,"width":28,"height":6}},{"id":"7e24060a-ee64-4ef5-8240-01bc92ed963c","block_type":"box","text":"1","page_number":83,"box":{"x":718,"y":456,"width":3,"height":6}},{"id":"6b5f528d-b3a8-4998-a345-dbe4afc41e4f","block_type":"box","text":"2","page_number":83,"box":{"x":788,"y":456,"width":6,"height":6}},{"id":"935dc226-d5bd-4f86-975a-185624ff2ecf","block_type":"box","text":"3","page_number":83,"box":{"x":860,"y":456,"width":6,"height":6}},{"id":"50be7e83-0550-4d8d-9827-f06da671b1d1","block_type":"box","text":"Total","page_number":83,"box":{"x":910,"y":456,"width":27,"height":6}},{"id":"72f79db7-4963-4667-9688-7bae0431f963","block_type":"box","text":"£’000","page_number":83,"box":{"x":693,"y":466,"width":30,"height":6}},{"id":"71386a10-4200-4b45-be1d-f26d3f950600","block_type":"box","text":"£’000","page_number":83,"box":{"x":764,"y":466,"width":30,"height":6}},{"id":"17fed3f0-ae2b-4dba-9bce-b83144f7ebc5","block_type":"box","text":"£’000","page_number":83,"box":{"x":836,"y":466,"width":30,"height":6}},{"id":"1345aff2-e8ff-410f-b4fd-21aee9cd8917","block_type":"box","text":"£’000","page_number":83,"box":{"x":907,"y":466,"width":30,"height":6}},{"id":"5bfad754-37ef-4f54-8bc6-03f54ec4eda7","block_type":"box","text":"Investments","page_number":83,"box":{"x":522,"y":484,"width":69,"height":6}},{"id":"975b6c71-cac1-41eb-bd77-09842371529c","block_type":"box","text":"Exchange Traded","page_number":83,"box":{"x":522,"y":502,"width":92,"height":7}},{"id":"9f7587f1-6422-41c6-873c-6da9ef65811c","block_type":"box","text":"Funds and","page_number":83,"box":{"x":522,"y":511,"width":54,"height":6}},{"id":"c22fe318-a988-47ba-b4e1-a1946db138f9","block_type":"box","text":"Commodities","page_number":83,"box":{"x":522,"y":521,"width":69,"height":6}},{"id":"34749052-4fd7-401e-94d6-b8a528e44be4","block_type":"box","text":"2,537","page_number":83,"box":{"x":694,"y":502,"width":29,"height":7}},{"id":"6ef149c2-de1b-444a-a8a9-64ddcc8c922c","block_type":"box","text":"6,568","page_number":83,"box":{"x":765,"y":502,"width":29,"height":7}},{"id":"e0c80320-e4c0-4566-9291-05560f2c2453","block_type":"box","text":"–","page_number":83,"box":{"x":860,"y":505,"width":6,"height":1}},{"id":"5d2e40a0-62ed-4851-ba63-2d076a6b9300","block_type":"box","text":"9,105","page_number":83,"box":{"x":909,"y":502,"width":28,"height":7}},{"id":"1900aeab-e530-4862-a3d7-10639cfcafb0","block_type":"box","text":"Collective investment","page_number":83,"box":{"x":522,"y":538,"width":113,"height":6}},{"id":"63b11ba0-1df9-4dfd-8e79-404649594969","block_type":"box","text":"schemes","page_number":83,"box":{"x":521,"y":548,"width":48,"height":6}},{"id":"fe963e8f-78a1-412f-8272-67915127c2cd","block_type":"box","text":"–","page_number":83,"box":{"x":717,"y":542,"width":6,"height":0}},{"id":"613c5dd9-9274-402b-82bf-4605f68f9358","block_type":"box","text":"36,049","page_number":83,"box":{"x":758,"y":538,"width":36,"height":7}},{"id":"ff70b851-a64f-47ed-882a-82fed4ed51c8","block_type":"box","text":"–","page_number":83,"box":{"x":860,"y":542,"width":6,"height":0}},{"id":"5b75bb74-fe43-448b-a7b5-ca23375037e2","block_type":"box","text":"36,049","page_number":83,"box":{"x":901,"y":538,"width":36,"height":7}},{"id":"4d609552-3ec1-4425-9efd-88234df3f13c","block_type":"box","text":"Derivatives","page_number":83,"box":{"x":522,"y":565,"width":58,"height":6}},{"id":"4cf477b9-f5bd-4b46-b54c-20d2e036f90f","block_type":"box","text":"75","page_number":83,"box":{"x":711,"y":565,"width":12,"height":6}},{"id":"f9d94beb-9448-4f6e-aeca-01b3ebaee4c5","block_type":"box","text":"32","page_number":83,"box":{"x":782,"y":565,"width":12,"height":6}},{"id":"e0033670-9f73-4481-aaf4-cbe39521ba87","block_type":"box","text":"–","page_number":83,"box":{"x":860,"y":569,"width":6,"height":0}},{"id":"d3bfcc32-641d-4a4c-ac4f-dfdcf61aca3b","block_type":"box","text":"107","page_number":83,"box":{"x":919,"y":565,"width":18,"height":6}},{"id":"02df47c8-3f82-4bf4-8f18-b94a9a403036","block_type":"box","text":"Total","page_number":83,"box":{"x":521,"y":583,"width":27,"height":6}},{"id":"b121b919-5c56-46f3-8128-b1e68c2cf8a4","block_type":"box","text":"2,612","page_number":83,"box":{"x":694,"y":583,"width":29,"height":7}},{"id":"838e17b6-a817-4e70-8473-52f851697455","block_type":"box","text":"42,649","page_number":83,"box":{"x":757,"y":583,"width":37,"height":7}},{"id":"f6c95732-305f-4d34-8e8c-65c7c4310050","block_type":"box","text":"–","page_number":83,"box":{"x":860,"y":586,"width":6,"height":1}},{"id":"565f0e11-164c-4d9e-9a38-05f87d756a25","block_type":"box","text":"45,261","page_number":83,"box":{"x":901,"y":583,"width":35,"height":7}},{"id":"1015c2eb-07f7-425b-b9e1-13f16a7740b9","block_type":"box","text":"Investment liabilities","page_number":83,"box":{"x":522,"y":600,"width":119,"height":6}},{"id":"001e9eea-59b6-4758-ad86-28ee59d49980","block_type":"box","text":"Derivatives","page_number":83,"box":{"x":522,"y":618,"width":58,"height":6}},{"id":"2b433ec0-af41-484a-bb2a-d8b9883fb54e","block_type":"box","text":"(52)","page_number":83,"box":{"x":707,"y":618,"width":20,"height":7}},{"id":"d339da20-9808-492a-becf-b455bb903dc6","block_type":"box","text":"(5)","page_number":83,"box":{"x":785,"y":618,"width":13,"height":7}},{"id":"023dc4bb-022a-4b20-822f-2f472912c031","block_type":"box","text":"–","page_number":83,"box":{"x":860,"y":621,"width":6,"height":1}},{"id":"233e2165-b65d-408e-8264-32337d52fec1","block_type":"box","text":"(57)","page_number":83,"box":{"x":921,"y":618,"width":20,"height":7}},{"id":"508558cd-741d-477d-9e93-d690f6b76d58","block_type":"box","text":"Total","page_number":83,"box":{"x":521,"y":635,"width":27,"height":6}},{"id":"6a962ff3-8e55-463c-99c2-c6d3bc5b0b38","block_type":"box","text":"(52)","page_number":83,"box":{"x":707,"y":635,"width":20,"height":8}},{"id":"e1e230c9-0022-48f1-8db0-65f674801aff","block_type":"box","text":"(5)","page_number":83,"box":{"x":785,"y":635,"width":13,"height":8}},{"id":"39b0a7cc-0c4d-47cc-9aa5-433fcb0de338","block_type":"box","text":"–","page_number":83,"box":{"x":860,"y":639,"width":6,"height":0}},{"id":"a2926bdd-5a9a-4743-9848-a49e0aa53a92","block_type":"box","text":"(57)","page_number":83,"box":{"x":921,"y":635,"width":20,"height":8}},{"id":"8b305efa-2f9e-4df6-a355-efcffe0e2071","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund | Royal London Multi-Asset Funds ICVC","page_number":83,"box":{"x":454,"y":33,"width":459,"height":8}},{"id":"cdc819e1-69d2-4241-9a0c-aacd8eb1af1b","block_type":"box","text":"83","page_number":83,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"52797182-0f05-450f-bc63-1eb5bbf4b671","block_type":"box","text":"Royal London GMAP Diversified Bond Fund","page_number":84,"box":{"x":58,"y":151,"width":394,"height":11}},{"id":"3f8f3751-5d3f-4ac9-8da2-d59e64fe4930","block_type":"box","text":"Launch date","page_number":84,"box":{"x":58,"y":180,"width":70,"height":6}},{"id":"1af34692-4c38-4ac3-9805-338c797ccf98","block_type":"box","text":"14","page_number":84,"box":{"x":289,"y":180,"width":11,"height":6}},{"id":"d1e101e3-1cfd-48c0-b55b-501c1caa7688","block_type":"box","text":"March 2016","page_number":84,"box":{"x":305,"y":180,"width":61,"height":6}},{"id":"92b8d6d8-e51b-49cf-b1c2-42554c19ffe7","block_type":"box","text":"Accounting end dates","page_number":84,"box":{"x":57,"y":199,"width":126,"height":8}},{"id":"79ae3dce-fd2f-4e0a-b476-6dee549995de","block_type":"box","text":"31","page_number":84,"box":{"x":288,"y":199,"width":10,"height":7}},{"id":"e8cea1fd-a47e-4097-9e78-a537ce5abd07","block_type":"box","text":"December (final)","page_number":84,"box":{"x":305,"y":199,"width":88,"height":8}},{"id":"0ff72764-dd8b-4fa6-80c2-ee20720a0f70","block_type":"box","text":"30","page_number":84,"box":{"x":288,"y":219,"width":12,"height":6}},{"id":"09224446-e58d-482a-a5de-dd38578e5ad0","block_type":"box","text":"June (interim)","page_number":84,"box":{"x":305,"y":219,"width":72,"height":8}},{"id":"3aa53783-80e1-4b29-8f81-799ea834bfc1","block_type":"box","text":"Distribution dates","page_number":84,"box":{"x":57,"y":239,"width":103,"height":6}},{"id":"15849b13-0798-4e12-8163-0829403f414c","block_type":"box","text":"28","page_number":84,"box":{"x":288,"y":239,"width":12,"height":6}},{"id":"e4553475-030c-4eea-b895-7d330a796779","block_type":"box","text":"February (final)","page_number":84,"box":{"x":305,"y":238,"width":81,"height":8}},{"id":"7015ebb1-b3b0-413f-94d7-0d541c733e29","block_type":"box","text":"31","page_number":84,"box":{"x":288,"y":258,"width":10,"height":6}},{"id":"8653c331-dbd9-410d-a217-bd3314564f46","block_type":"box","text":"August (interim)","page_number":84,"box":{"x":304,"y":258,"width":84,"height":8}},{"id":"36d0af26-4b8e-4e1d-9d1e-ec1c04141774","block_type":"box","text":"Minimum investment","page_number":84,"box":{"x":57,"y":278,"width":120,"height":6}},{"id":"e65fbe9a-d486-4ecb-8ef0-61692c243dc3","block_type":"box","text":"Class M","page_number":84,"box":{"x":219,"y":277,"width":42,"height":7}},{"id":"99cd96ff-d8a0-40a3-aaca-a81ba69590f9","block_type":"box","text":"£10,000 (thereafter £1,000)","page_number":84,"box":{"x":288,"y":277,"width":146,"height":8}},{"id":"6e02d55c-b4b5-4f4e-a53b-8a8bfa489a50","block_type":"box","text":"Class P","page_number":84,"box":{"x":219,"y":297,"width":40,"height":6}},{"id":"214a2a6b-4ea9-46d0-a7af-b32f0cc65a21","block_type":"box","text":"n/a","page_number":84,"box":{"x":288,"y":297,"width":16,"height":6}},{"id":"17d26a8a-6bc2-4e54-a1f4-30922144ddf5","block_type":"box","text":"Class R","page_number":84,"box":{"x":219,"y":317,"width":41,"height":6}},{"id":"3d840b36-394c-4450-8900-dd3eb5b0855b","block_type":"box","text":"n/a","page_number":84,"box":{"x":288,"y":317,"width":16,"height":6}},{"id":"e1b2bb1d-86a1-4aea-a9b8-18759b00a5c3","block_type":"box","text":"Class S","page_number":84,"box":{"x":219,"y":336,"width":40,"height":6}},{"id":"6470a046-2e30-458d-989d-d8bd27c8411e","block_type":"box","text":"n/a","page_number":84,"box":{"x":288,"y":336,"width":16,"height":6}},{"id":"8abbcdac-9e1d-41a5-a148-eccf3be9aee6","block_type":"box","text":"Class Z","page_number":84,"box":{"x":219,"y":356,"width":40,"height":6}},{"id":"8dc1d799-f2ed-49c2-a2c5-8a97ec865c11","block_type":"box","text":"£15,000,000 (thereafter £50,000)","page_number":84,"box":{"x":288,"y":356,"width":177,"height":7}},{"id":"eb450d7b-6124-489c-a2e6-ebcace07cc7d","block_type":"box","text":"Initial Management","page_number":84,"box":{"x":57,"y":375,"width":109,"height":8}},{"id":"41f67bb6-4e1b-498e-b18b-da869f9d0b13","block_type":"box","text":"charge","page_number":84,"box":{"x":57,"y":385,"width":39,"height":7}},{"id":"8f2fb075-1a97-448f-88c1-4c793577514c","block_type":"box","text":"Class M","page_number":84,"box":{"x":219,"y":375,"width":42,"height":6}},{"id":"f6cf4198-6e9a-4ee1-868a-7d5142713609","block_type":"box","text":"nil","page_number":84,"box":{"x":288,"y":375,"width":11,"height":6}},{"id":"b8c4d591-79ae-44e0-b48b-5ff0d333cbb8","block_type":"box","text":"Class P","page_number":84,"box":{"x":219,"y":395,"width":40,"height":6}},{"id":"c3d7d7bb-4ce7-4219-bf9b-11f270d3a4dd","block_type":"box","text":"nil","page_number":84,"box":{"x":288,"y":395,"width":11,"height":6}},{"id":"3643ab02-6c12-446e-9644-13ee30532c0d","block_type":"box","text":"Class R","page_number":84,"box":{"x":219,"y":414,"width":41,"height":6}},{"id":"fb1745b5-c8b1-4ca6-82b4-a41b5a9c3fe6","block_type":"box","text":"nil","page_number":84,"box":{"x":288,"y":414,"width":11,"height":6}},{"id":"3c08f391-dda3-42c3-a67d-137fda552dff","block_type":"box","text":"Class S","page_number":84,"box":{"x":219,"y":434,"width":40,"height":6}},{"id":"9bb8316e-b60c-428f-b443-a417cf1a49fb","block_type":"box","text":"nil","page_number":84,"box":{"x":288,"y":434,"width":11,"height":6}},{"id":"af3d7ecb-3b84-462d-bd9d-a4099e5b8370","block_type":"box","text":"Class Z","page_number":84,"box":{"x":219,"y":453,"width":40,"height":6}},{"id":"49f3bb04-e863-4c40-b62b-22528f10c249","block_type":"box","text":"nil","page_number":84,"box":{"x":288,"y":453,"width":11,"height":6}},{"id":"7a9371de-3861-492f-8e9d-5dcbd5c3991e","block_type":"box","text":"Fund Management Fee","page_number":84,"box":{"x":58,"y":473,"width":129,"height":7}},{"id":"221f8d51-a790-4f76-a595-9be9c3fa056b","block_type":"box","text":"Class M","page_number":84,"box":{"x":219,"y":473,"width":42,"height":6}},{"id":"a837f9a4-62cd-46de-8670-8e8528f56e0e","block_type":"box","text":"0.60%","page_number":84,"box":{"x":288,"y":473,"width":33,"height":6}},{"id":"28404b4e-11bc-4175-a246-e7b7d99e54de","block_type":"box","text":"Class P","page_number":84,"box":{"x":219,"y":492,"width":40,"height":6}},{"id":"6dffeb6e-9484-480b-8ad6-2f304f3f5cc1","block_type":"box","text":"0.55%","page_number":84,"box":{"x":288,"y":492,"width":33,"height":6}},{"id":"37dcadcd-648c-4f87-880e-35f830c900c4","block_type":"box","text":"Class R","page_number":84,"box":{"x":219,"y":512,"width":41,"height":6}},{"id":"cb2924e7-a076-44d3-be6e-02d7a16bf2f7","block_type":"box","text":"0.12%","page_number":84,"box":{"x":288,"y":512,"width":31,"height":6}},{"id":"a59f4484-bea0-47d8-b990-db7a3918b35d","block_type":"box","text":"Class S","page_number":84,"box":{"x":219,"y":531,"width":40,"height":6}},{"id":"85ae45e5-f2dd-4234-a36c-b1f93493e4ff","block_type":"box","text":"0.15%","page_number":84,"box":{"x":288,"y":531,"width":31,"height":7}},{"id":"42da4ae2-b570-49d7-a659-ab174a8d6e46","block_type":"box","text":"Class Z","page_number":84,"box":{"x":219,"y":551,"width":40,"height":6}},{"id":"cd0324ed-4b3a-47bf-b0ef-fb5c90fd5908","block_type":"box","text":"0.40%","page_number":84,"box":{"x":288,"y":551,"width":33,"height":6}},{"id":"0147d25c-2dd8-4432-8afb-9a0a241ccf86","block_type":"box","text":"Royal London GMAP Defensive Fund","page_number":84,"box":{"x":522,"y":151,"width":333,"height":11}},{"id":"8923cc58-b46e-41de-8684-c58924fd154b","block_type":"box","text":"Launch date","page_number":84,"box":{"x":522,"y":180,"width":70,"height":6}},{"id":"76208758-0a21-4abd-98a2-5ab62b7af0bc","block_type":"box","text":"14","page_number":84,"box":{"x":753,"y":180,"width":11,"height":6}},{"id":"e149677f-1314-4d93-b08f-9757d6383ae6","block_type":"box","text":"March 2016","page_number":84,"box":{"x":769,"y":180,"width":61,"height":6}},{"id":"7c665c15-83d9-447b-95bb-8639e88c90b1","block_type":"box","text":"Accounting end dates","page_number":84,"box":{"x":521,"y":199,"width":126,"height":8}},{"id":"dc14cb5a-131a-4c52-8323-d1bf6c36965d","block_type":"box","text":"31","page_number":84,"box":{"x":752,"y":199,"width":11,"height":7}},{"id":"5ed37444-6287-4319-9d69-d25ac09d9bc8","block_type":"box","text":"December (final)","page_number":84,"box":{"x":769,"y":199,"width":88,"height":8}},{"id":"4605c4c7-eeb4-47a1-ab72-710bdc973c17","block_type":"box","text":"30","page_number":84,"box":{"x":752,"y":219,"width":13,"height":6}},{"id":"25bd24a4-d340-4111-90d5-e8f9b9669a3c","block_type":"box","text":"June (interim)","page_number":84,"box":{"x":769,"y":219,"width":72,"height":8}},{"id":"e0372347-2ff7-40d5-8a99-6b7895f11252","block_type":"box","text":"Distribution dates","page_number":84,"box":{"x":522,"y":239,"width":103,"height":6}},{"id":"c5768b19-4f95-4620-84a3-313a167a27a1","block_type":"box","text":"28","page_number":84,"box":{"x":752,"y":239,"width":13,"height":6}},{"id":"03c39ad9-c2b1-45d7-a381-caea31275ecb","block_type":"box","text":"February (final)","page_number":84,"box":{"x":769,"y":238,"width":81,"height":8}},{"id":"60bb7954-6bd9-4794-9e78-ea702662f9f8","block_type":"box","text":"31","page_number":84,"box":{"x":752,"y":258,"width":11,"height":6}},{"id":"99e274d5-e20d-4d19-827d-acb185544a2f","block_type":"box","text":"August (interim)","page_number":84,"box":{"x":768,"y":258,"width":84,"height":8}},{"id":"de909937-2875-4ab8-b6c5-1ae2735ae17f","block_type":"box","text":"Minimum investment","page_number":84,"box":{"x":522,"y":278,"width":119,"height":6}},{"id":"5e1ad138-1311-48dc-aab7-a0c492beb81c","block_type":"box","text":"Class M","page_number":84,"box":{"x":683,"y":277,"width":42,"height":7}},{"id":"1e96c172-11d0-4e09-b05b-83c73517e4a4","block_type":"box","text":"£10,000 (thereafter £1,000)","page_number":84,"box":{"x":752,"y":277,"width":146,"height":8}},{"id":"2bf2fbfb-1701-4d33-90bb-fc53ae46ce7a","block_type":"box","text":"Class P","page_number":84,"box":{"x":683,"y":297,"width":41,"height":6}},{"id":"c70f5a89-5a95-4594-8540-f18f2f4d2230","block_type":"box","text":"n/a","page_number":84,"box":{"x":753,"y":297,"width":15,"height":6}},{"id":"0da30272-6198-443b-baab-33c66609992a","block_type":"box","text":"Class R","page_number":84,"box":{"x":683,"y":317,"width":42,"height":6}},{"id":"ae6d84c2-7778-4d89-866a-68c23015251c","block_type":"box","text":"n/a","page_number":84,"box":{"x":753,"y":317,"width":15,"height":6}},{"id":"700b716c-c971-4bab-bbfc-8aad8db1a89f","block_type":"box","text":"Class S","page_number":84,"box":{"x":683,"y":336,"width":40,"height":6}},{"id":"b6f79e64-986a-47f2-9cac-fe31c00492f9","block_type":"box","text":"n/a","page_number":84,"box":{"x":753,"y":336,"width":15,"height":6}},{"id":"1e71d975-68a2-46de-b661-eb1f6f45d284","block_type":"box","text":"Class Z","page_number":84,"box":{"x":683,"y":356,"width":40,"height":6}},{"id":"fe5c7a9d-f233-457e-9635-c2ba758f821f","block_type":"box","text":"£5,000,000 (thereafter £50,000)","page_number":84,"box":{"x":752,"y":356,"width":171,"height":7}},{"id":"f3a09d97-8d75-4cb5-b87d-a2a87a9069bb","block_type":"box","text":"Initial Management","page_number":84,"box":{"x":522,"y":375,"width":109,"height":8}},{"id":"28d3f116-8d41-404d-93c0-41178ef473ab","block_type":"box","text":"charge","page_number":84,"box":{"x":521,"y":385,"width":39,"height":7}},{"id":"808efe83-3555-47f9-a472-934891b05b42","block_type":"box","text":"Class M","page_number":84,"box":{"x":683,"y":375,"width":42,"height":6}},{"id":"30eabef4-b86c-4f61-86b3-2c2d6ec10bd7","block_type":"box","text":"nil","page_number":84,"box":{"x":753,"y":375,"width":10,"height":6}},{"id":"3d2ec530-ce35-4a30-ac20-11a657c58c84","block_type":"box","text":"Class P","page_number":84,"box":{"x":683,"y":395,"width":41,"height":6}},{"id":"60de3989-3c84-4139-891c-a5a4c1736fa9","block_type":"box","text":"nil","page_number":84,"box":{"x":753,"y":395,"width":10,"height":6}},{"id":"82e9122a-3a49-47b9-a8d7-0d087c49e902","block_type":"box","text":"Class R","page_number":84,"box":{"x":683,"y":414,"width":42,"height":6}},{"id":"f5293fb4-512d-48e8-8214-bf7dafca516e","block_type":"box","text":"nil","page_number":84,"box":{"x":753,"y":414,"width":10,"height":6}},{"id":"a84c2f6c-45ca-46f0-ad7b-d531641430cb","block_type":"box","text":"Class S","page_number":84,"box":{"x":683,"y":434,"width":40,"height":6}},{"id":"d77ad32f-d1a9-4ec1-a1aa-96a74d7bbd79","block_type":"box","text":"nil","page_number":84,"box":{"x":753,"y":434,"width":10,"height":6}},{"id":"34e80fdd-8c8a-4c9c-8712-0c2e2cb5edc0","block_type":"box","text":"Class Z","page_number":84,"box":{"x":683,"y":453,"width":40,"height":6}},{"id":"5a2be897-e036-40f9-9233-1d9b5d3a6ab4","block_type":"box","text":"nil","page_number":84,"box":{"x":753,"y":453,"width":10,"height":6}},{"id":"4575f1e2-4516-4ea2-ad42-911e2b5019c5","block_type":"box","text":"Fund Management Fee","page_number":84,"box":{"x":522,"y":473,"width":129,"height":7}},{"id":"1e7cbcb7-a4a8-4634-8952-017dbbd9ccd4","block_type":"box","text":"Class M","page_number":84,"box":{"x":683,"y":473,"width":42,"height":6}},{"id":"90006cc6-de32-4c66-9dd3-1b20f34cab61","block_type":"box","text":"0.60%","page_number":84,"box":{"x":752,"y":473,"width":33,"height":6}},{"id":"82ca6607-e976-4634-bb46-1e900b479443","block_type":"box","text":"Class P","page_number":84,"box":{"x":683,"y":492,"width":41,"height":6}},{"id":"d3161747-bb42-4c9c-b313-58f0d4b19622","block_type":"box","text":"0.55%","page_number":84,"box":{"x":752,"y":492,"width":33,"height":6}},{"id":"1d591503-0cda-476b-ad5c-42acfeef2623","block_type":"box","text":"Class R","page_number":84,"box":{"x":683,"y":512,"width":42,"height":6}},{"id":"fdd6ad93-55fa-4f9f-80b3-7eb1989a4462","block_type":"box","text":"0.12%","page_number":84,"box":{"x":752,"y":512,"width":32,"height":6}},{"id":"054eaae1-b2bb-4ce7-bb13-22a67372639e","block_type":"box","text":"Class S","page_number":84,"box":{"x":683,"y":531,"width":40,"height":6}},{"id":"29f71ef3-12dd-442a-bfcc-8ab2aea61596","block_type":"box","text":"0.15%","page_number":84,"box":{"x":752,"y":531,"width":32,"height":7}},{"id":"3952a2cb-ab5d-4fed-b675-256356c777ca","block_type":"box","text":"Class Z","page_number":84,"box":{"x":683,"y":551,"width":40,"height":6}},{"id":"203fbab6-7970-47de-9e06-542b4a64d6e5","block_type":"box","text":"0.30%","page_number":84,"box":{"x":752,"y":551,"width":33,"height":6}},{"id":"59da8269-6887-4051-abf8-f24798b0d8bc","block_type":"box","text":"Fact File","page_number":84,"box":{"x":58,"y":94,"width":101,"height":11}},{"id":"87490236-5c87-44ff-b581-3aa3cf47c23f","block_type":"box","text":"Constitution","page_number":84,"box":{"x":58,"y":119,"width":145,"height":12}},{"id":"9d1e35b1-8428-46f4-8c40-f385b08e9435","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":84,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"0ab2a387-cf1b-49bb-b3b8-f00cc48f9850","block_type":"box","text":"84","page_number":84,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"5d3023af-bb54-448d-a25a-0b9091c04161","block_type":"box","text":"Fact File","page_number":85,"box":{"x":58,"y":94,"width":109,"height":11}},{"id":"f78190c2-1e9a-41c7-ae37-663b760e7f38","block_type":"box","text":"(continued)","page_number":85,"box":{"x":168,"y":97,"width":75,"height":10}},{"id":"a0950ccd-890e-46b5-b4cf-7681700a9a41","block_type":"box","text":"Constitution","page_number":85,"box":{"x":58,"y":119,"width":154,"height":12}},{"id":"99c27947-bdd2-4b1a-bed3-3e6955499d89","block_type":"box","text":"(continued)","page_number":85,"box":{"x":213,"y":123,"width":74,"height":10}},{"id":"d8389e72-c1ff-4172-af98-8252517534aa","block_type":"box","text":"Royal London GMAP Balanced Fund","page_number":85,"box":{"x":58,"y":151,"width":328,"height":11}},{"id":"57d1070c-7f0e-41b3-9011-6000d29e422a","block_type":"box","text":"Launch date","page_number":85,"box":{"x":58,"y":180,"width":70,"height":6}},{"id":"ec618096-0464-40fd-a260-0caf0f873867","block_type":"box","text":"14","page_number":85,"box":{"x":289,"y":180,"width":11,"height":6}},{"id":"413a6ca9-7076-4fab-82a0-ceedae203ed6","block_type":"box","text":"March 2016","page_number":85,"box":{"x":305,"y":180,"width":61,"height":6}},{"id":"ff438806-07a5-4577-bf90-c50c84719e42","block_type":"box","text":"Accounting end dates","page_number":85,"box":{"x":57,"y":199,"width":126,"height":8}},{"id":"1186de85-f42b-44ec-9bdf-55b6bbef8e99","block_type":"box","text":"31","page_number":85,"box":{"x":288,"y":199,"width":10,"height":7}},{"id":"d73cf49b-a9be-4233-85d4-6f4136d02676","block_type":"box","text":"December (final)","page_number":85,"box":{"x":305,"y":199,"width":88,"height":8}},{"id":"0cbc5916-ff6b-49f6-a047-f4dc4a1a430a","block_type":"box","text":"30","page_number":85,"box":{"x":288,"y":219,"width":12,"height":6}},{"id":"ec5ca651-c35d-4023-ac43-1e1fde3461c7","block_type":"box","text":"June (interim)","page_number":85,"box":{"x":305,"y":219,"width":72,"height":8}},{"id":"05f3ef63-7bdb-423e-8fcd-0b256118800d","block_type":"box","text":"Distribution dates","page_number":85,"box":{"x":57,"y":239,"width":103,"height":6}},{"id":"92704af3-c4a8-4f3c-bb05-35425e6f96f3","block_type":"box","text":"28","page_number":85,"box":{"x":288,"y":239,"width":12,"height":6}},{"id":"d6efa5be-1543-4cd6-b5d5-3904cd652ba5","block_type":"box","text":"February (final)","page_number":85,"box":{"x":305,"y":238,"width":81,"height":8}},{"id":"e28825b5-c78e-4a3f-b2af-1922e0a69db6","block_type":"box","text":"31","page_number":85,"box":{"x":288,"y":258,"width":10,"height":6}},{"id":"78389674-11f7-4e77-9b78-5645954fd165","block_type":"box","text":"August (interim)","page_number":85,"box":{"x":304,"y":258,"width":84,"height":8}},{"id":"d5189562-e742-4e4a-a05a-567f16e1aa3b","block_type":"box","text":"Minimum investment","page_number":85,"box":{"x":57,"y":278,"width":120,"height":6}},{"id":"3df97c44-45e1-457a-9931-9495d7fe581e","block_type":"box","text":"Class M","page_number":85,"box":{"x":219,"y":277,"width":42,"height":7}},{"id":"c5aaa7ac-4c16-4620-8797-2e0e2ac731e9","block_type":"box","text":"£10,000 (thereafter £1,000)","page_number":85,"box":{"x":288,"y":277,"width":146,"height":8}},{"id":"ee073d46-ca68-427b-972b-e8eaa4101eb0","block_type":"box","text":"Class P","page_number":85,"box":{"x":219,"y":297,"width":40,"height":6}},{"id":"78c9cd5c-d2ca-4891-89fa-a28ec0f49ba8","block_type":"box","text":"n/a","page_number":85,"box":{"x":288,"y":297,"width":16,"height":6}},{"id":"12e0e7df-40c5-4dda-9281-48d5361615d7","block_type":"box","text":"Class R","page_number":85,"box":{"x":219,"y":317,"width":41,"height":6}},{"id":"7757e040-8dd5-45d8-8691-b03e043e4dcf","block_type":"box","text":"n/a","page_number":85,"box":{"x":288,"y":317,"width":16,"height":6}},{"id":"146d3a1b-782d-45d1-b9e5-d9bc1a28108f","block_type":"box","text":"Class S","page_number":85,"box":{"x":219,"y":336,"width":40,"height":6}},{"id":"6c6ffcce-747e-4d62-a3fc-267c7ddacdc3","block_type":"box","text":"n/a","page_number":85,"box":{"x":288,"y":336,"width":16,"height":6}},{"id":"4e8b0fd4-ff4e-4325-86c5-bd368b7fa794","block_type":"box","text":"Class Z","page_number":85,"box":{"x":219,"y":356,"width":40,"height":6}},{"id":"ebf78b20-d509-4d99-9306-8fcadb83f03e","block_type":"box","text":"£5,000,000 (thereafter £50,000)","page_number":85,"box":{"x":288,"y":356,"width":171,"height":7}},{"id":"81c55d0c-6ec6-4fb9-af30-b59477376c2d","block_type":"box","text":"Initial Management","page_number":85,"box":{"x":57,"y":375,"width":109,"height":8}},{"id":"06c85d40-1dcb-4b62-a6d5-368c29a745b3","block_type":"box","text":"charge","page_number":85,"box":{"x":57,"y":385,"width":39,"height":7}},{"id":"1f3e8125-c5c4-498b-8538-9f395f610d34","block_type":"box","text":"Class M","page_number":85,"box":{"x":219,"y":375,"width":42,"height":6}},{"id":"a0caeab4-d42a-454a-a0e0-37b18aa06992","block_type":"box","text":"nil","page_number":85,"box":{"x":288,"y":375,"width":11,"height":6}},{"id":"08f9748c-fd71-4578-9528-7388ed0dae13","block_type":"box","text":"Class P","page_number":85,"box":{"x":219,"y":395,"width":40,"height":6}},{"id":"b628a19e-d2be-4234-be98-1f9885564410","block_type":"box","text":"nil","page_number":85,"box":{"x":288,"y":395,"width":11,"height":6}},{"id":"01494c2f-1da6-43c8-bfce-af0ce8e46315","block_type":"box","text":"Class R","page_number":85,"box":{"x":219,"y":414,"width":41,"height":6}},{"id":"bb101eb7-bb78-4dae-81c6-42d5f3dfb585","block_type":"box","text":"nil","page_number":85,"box":{"x":288,"y":414,"width":11,"height":6}},{"id":"4bba4a63-2a28-4e60-b83d-6db18abff840","block_type":"box","text":"Class S","page_number":85,"box":{"x":219,"y":434,"width":40,"height":6}},{"id":"9cf4d321-2016-4cc6-977d-44741951a4e1","block_type":"box","text":"nil","page_number":85,"box":{"x":288,"y":434,"width":11,"height":6}},{"id":"e1ee2e3d-b451-41e3-a555-8c3f70a6358d","block_type":"box","text":"Class Z","page_number":85,"box":{"x":219,"y":453,"width":40,"height":6}},{"id":"e420573c-7b13-4ab7-928e-ca4175f92673","block_type":"box","text":"nil","page_number":85,"box":{"x":288,"y":453,"width":11,"height":6}},{"id":"d144c2bb-7359-463f-a84b-2c1f8d676e68","block_type":"box","text":"Fund Management Fee","page_number":85,"box":{"x":58,"y":473,"width":129,"height":7}},{"id":"e318c95f-cfab-477f-81f1-fd9be983c0df","block_type":"box","text":"Class M","page_number":85,"box":{"x":219,"y":473,"width":42,"height":6}},{"id":"89687487-87a1-449e-9f31-d5d103297f4b","block_type":"box","text":"0.60%","page_number":85,"box":{"x":288,"y":473,"width":33,"height":6}},{"id":"5401f5ef-a526-429b-b3cc-0b1bb1448793","block_type":"box","text":"Class P","page_number":85,"box":{"x":219,"y":492,"width":40,"height":6}},{"id":"d6272509-9aaf-4eb3-b9cd-ff8770011237","block_type":"box","text":"0.55%","page_number":85,"box":{"x":288,"y":492,"width":33,"height":6}},{"id":"db20eb1d-c938-4c84-b5b3-cd366ca383b0","block_type":"box","text":"Class R","page_number":85,"box":{"x":219,"y":512,"width":41,"height":6}},{"id":"e3f1da79-419e-47fd-bf04-088bada74612","block_type":"box","text":"0.12%","page_number":85,"box":{"x":288,"y":512,"width":31,"height":6}},{"id":"bb303d3a-9c62-4b84-a31c-57c5741b04b6","block_type":"box","text":"Class S","page_number":85,"box":{"x":219,"y":531,"width":40,"height":6}},{"id":"5c688ab3-5136-4716-b3b5-75f6a27eaec0","block_type":"box","text":"0.15%","page_number":85,"box":{"x":288,"y":531,"width":31,"height":7}},{"id":"8dd148af-3658-44e5-8de4-940504a27050","block_type":"box","text":"Class Z","page_number":85,"box":{"x":219,"y":551,"width":40,"height":6}},{"id":"b0218f45-c19c-4b64-a838-beae1f4556af","block_type":"box","text":"0.30%","page_number":85,"box":{"x":288,"y":551,"width":33,"height":6}},{"id":"3270c86e-ff6d-45ee-9764-56405bfe1f95","block_type":"box","text":"Royal London GMAP Growth Fund","page_number":85,"box":{"x":522,"y":151,"width":309,"height":11}},{"id":"f00e71d1-16ac-4b48-810a-79d2851f2c79","block_type":"box","text":"Launch date","page_number":85,"box":{"x":522,"y":180,"width":70,"height":6}},{"id":"0d691a7c-9b3a-40fa-876e-1c44d2dc0cac","block_type":"box","text":"14","page_number":85,"box":{"x":753,"y":180,"width":11,"height":6}},{"id":"70d942ec-e978-476a-8ab8-436d22ae0ee4","block_type":"box","text":"March 2016","page_number":85,"box":{"x":769,"y":180,"width":61,"height":6}},{"id":"d3620a24-e087-4473-89b0-e87bbfed58fc","block_type":"box","text":"Accounting end dates","page_number":85,"box":{"x":521,"y":199,"width":126,"height":8}},{"id":"7db46d42-0824-4eb5-b7bd-b77a292d93d6","block_type":"box","text":"31","page_number":85,"box":{"x":752,"y":199,"width":11,"height":7}},{"id":"ce20c7e1-b0fa-4cae-aa40-7f6913e0175d","block_type":"box","text":"December (final)","page_number":85,"box":{"x":769,"y":199,"width":88,"height":8}},{"id":"d50893b6-0bce-4938-b059-f3a088b010cd","block_type":"box","text":"30","page_number":85,"box":{"x":752,"y":219,"width":13,"height":6}},{"id":"08ebfffa-cb7f-4f48-aec4-b42c9b3de00e","block_type":"box","text":"June (interim)","page_number":85,"box":{"x":769,"y":219,"width":72,"height":8}},{"id":"d85a40a0-3f0b-490f-8490-4473b37821ab","block_type":"box","text":"Distribution dates","page_number":85,"box":{"x":522,"y":239,"width":103,"height":6}},{"id":"748c97bb-86ef-4325-8ef1-21fa1cba3074","block_type":"box","text":"28","page_number":85,"box":{"x":752,"y":239,"width":13,"height":6}},{"id":"09eac04a-36e5-4a4d-888b-6dcd51a8bc4a","block_type":"box","text":"February (final)","page_number":85,"box":{"x":769,"y":238,"width":81,"height":8}},{"id":"b2fa9c37-564f-4577-8c67-119013c38a60","block_type":"box","text":"31","page_number":85,"box":{"x":752,"y":258,"width":11,"height":6}},{"id":"3f4a2181-278a-44e4-9fc7-9d8807afefbf","block_type":"box","text":"August (interim)","page_number":85,"box":{"x":768,"y":258,"width":84,"height":8}},{"id":"9dde6e36-1339-47e5-b04b-1b60eef0c229","block_type":"box","text":"Minimum investment","page_number":85,"box":{"x":522,"y":278,"width":119,"height":6}},{"id":"8edc7f96-598c-41d6-b7d1-f4483e79ca51","block_type":"box","text":"Class M","page_number":85,"box":{"x":683,"y":277,"width":42,"height":7}},{"id":"a3667dd0-d221-4df2-90a9-f8b981170c59","block_type":"box","text":"£10,000 (thereafter £1,000)","page_number":85,"box":{"x":752,"y":277,"width":146,"height":8}},{"id":"084f5a7c-c545-4c58-b579-edcf608fe6c3","block_type":"box","text":"Class P","page_number":85,"box":{"x":683,"y":297,"width":41,"height":6}},{"id":"05b9bbce-40d5-4b20-ac8b-bfd854c649f9","block_type":"box","text":"n/a","page_number":85,"box":{"x":753,"y":297,"width":15,"height":6}},{"id":"06314dc2-f0cd-4617-83a0-4e810b8ab4f9","block_type":"box","text":"Class R","page_number":85,"box":{"x":683,"y":317,"width":42,"height":6}},{"id":"3f17c7da-559a-4387-a5ec-4772fa0f474f","block_type":"box","text":"n/a","page_number":85,"box":{"x":753,"y":317,"width":15,"height":6}},{"id":"ddcec82a-c512-4b87-8fc4-ffb5d899b829","block_type":"box","text":"Class S","page_number":85,"box":{"x":683,"y":336,"width":40,"height":6}},{"id":"e9832782-de37-4523-8306-cbedf9d89927","block_type":"box","text":"n/a","page_number":85,"box":{"x":753,"y":336,"width":15,"height":6}},{"id":"a2a08abb-8de1-4602-83c2-dab8a76f2379","block_type":"box","text":"Class Z","page_number":85,"box":{"x":683,"y":356,"width":40,"height":6}},{"id":"4d47a982-fc13-479f-a3ff-b0b47508461b","block_type":"box","text":"£5,000,000 (thereafter £50,000)","page_number":85,"box":{"x":752,"y":356,"width":171,"height":7}},{"id":"72289d51-ef50-45a4-85f6-381ebfffe097","block_type":"box","text":"Initial Management","page_number":85,"box":{"x":522,"y":375,"width":109,"height":8}},{"id":"0547925d-5ca3-47b1-8adc-e114562deaa8","block_type":"box","text":"charge","page_number":85,"box":{"x":521,"y":385,"width":39,"height":7}},{"id":"60fd3b09-0adb-47a7-bbb9-897d01387bdc","block_type":"box","text":"Class M","page_number":85,"box":{"x":683,"y":375,"width":42,"height":6}},{"id":"0e5bf2c7-bd81-4e1e-9954-a655576b0600","block_type":"box","text":"nil","page_number":85,"box":{"x":753,"y":375,"width":10,"height":6}},{"id":"a095430b-f495-4acc-83ab-f4f52a2914c8","block_type":"box","text":"Class P","page_number":85,"box":{"x":683,"y":395,"width":41,"height":6}},{"id":"d7635d1c-395a-4aaa-8ade-b445931fce3e","block_type":"box","text":"nil","page_number":85,"box":{"x":753,"y":395,"width":10,"height":6}},{"id":"4880df43-e31c-4779-a9de-ffc2c2175ebc","block_type":"box","text":"Class R","page_number":85,"box":{"x":683,"y":414,"width":42,"height":6}},{"id":"12e85a1c-0ca4-456b-8ca4-cfe09601780f","block_type":"box","text":"nil","page_number":85,"box":{"x":753,"y":414,"width":10,"height":6}},{"id":"a2769ade-0d46-4bf9-a2ee-037685288767","block_type":"box","text":"Class S","page_number":85,"box":{"x":683,"y":434,"width":40,"height":6}},{"id":"3256be4f-8e96-4167-8a9d-e31f6d7f98f3","block_type":"box","text":"nil","page_number":85,"box":{"x":753,"y":434,"width":10,"height":6}},{"id":"f5cdffec-0b74-46be-aafa-2f84eefbe5c5","block_type":"box","text":"Class Z","page_number":85,"box":{"x":683,"y":453,"width":40,"height":6}},{"id":"df6c9435-5bcd-4b4f-a5ec-7c357bcf9478","block_type":"box","text":"nil","page_number":85,"box":{"x":753,"y":453,"width":10,"height":6}},{"id":"0d0bf8c5-0723-4a51-b8af-645473b0c702","block_type":"box","text":"Fund Management Fee","page_number":85,"box":{"x":522,"y":473,"width":129,"height":7}},{"id":"a194b117-9662-4b02-af13-f45588751a10","block_type":"box","text":"Class M","page_number":85,"box":{"x":683,"y":473,"width":42,"height":6}},{"id":"0ba05300-35fa-4a77-9d79-c233f815cfb9","block_type":"box","text":"0.60%","page_number":85,"box":{"x":752,"y":473,"width":33,"height":6}},{"id":"e957f605-9d58-4922-b671-116d511bfb98","block_type":"box","text":"Class P","page_number":85,"box":{"x":683,"y":492,"width":41,"height":6}},{"id":"8d3ba3b0-69dc-4aa9-b078-2a1627a19b66","block_type":"box","text":"0.55%","page_number":85,"box":{"x":752,"y":492,"width":33,"height":6}},{"id":"9926ff5d-7a90-4751-8c55-7e59a6f8dd65","block_type":"box","text":"Class R","page_number":85,"box":{"x":683,"y":512,"width":42,"height":6}},{"id":"4756274b-6acd-40ec-b9ea-288b9739b8e3","block_type":"box","text":"0.12%","page_number":85,"box":{"x":752,"y":512,"width":32,"height":6}},{"id":"32af9e27-935f-4784-9512-c73b7e18e3af","block_type":"box","text":"Class S","page_number":85,"box":{"x":683,"y":531,"width":40,"height":6}},{"id":"0b5d7725-6fe4-4eb5-a599-3dacfef22633","block_type":"box","text":"0.15%","page_number":85,"box":{"x":752,"y":531,"width":32,"height":7}},{"id":"045cd81b-2060-48b6-ae3e-85d405875bf0","block_type":"box","text":"Class Z","page_number":85,"box":{"x":683,"y":551,"width":40,"height":6}},{"id":"79e6002f-d366-45aa-9c2f-bdc8c53bb38c","block_type":"box","text":"0.30%","page_number":85,"box":{"x":752,"y":551,"width":33,"height":6}},{"id":"d34fa95c-8b77-4b1f-a419-e7cb4fee3a78","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":85,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"70f4c458-2021-42f4-a81c-69c4a4bd5a91","block_type":"box","text":"85","page_number":85,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"2f457ad8-b84d-45a4-b718-e1e68bb2bf38","block_type":"box","text":"Fact File","page_number":86,"box":{"x":58,"y":94,"width":109,"height":11}},{"id":"a296dcb1-f5d0-4fe3-991d-fc9f6fcd50a8","block_type":"box","text":"(continued)","page_number":86,"box":{"x":168,"y":97,"width":75,"height":10}},{"id":"677ffddb-9e32-4708-a630-991eaa9bd964","block_type":"box","text":"Constitution","page_number":86,"box":{"x":58,"y":119,"width":154,"height":12}},{"id":"e5ec2b2f-5fe1-4c80-8df8-897d0e4f6d71","block_type":"box","text":"(continued)","page_number":86,"box":{"x":213,"y":123,"width":74,"height":10}},{"id":"d375f17e-41aa-4360-bb9e-4bb7f48c098c","block_type":"box","text":"Royal London GMAP Adventurous Fund","page_number":86,"box":{"x":58,"y":151,"width":358,"height":11}},{"id":"3ba745bd-22be-4a21-be96-ac43b1c31c2c","block_type":"box","text":"Launch date","page_number":86,"box":{"x":58,"y":180,"width":70,"height":6}},{"id":"84a978ad-0917-4858-993a-27dccbd2d1aa","block_type":"box","text":"14","page_number":86,"box":{"x":289,"y":180,"width":11,"height":6}},{"id":"70f05cae-703f-4a5e-93a1-d10701ca5ea2","block_type":"box","text":"March 2016","page_number":86,"box":{"x":305,"y":180,"width":61,"height":6}},{"id":"9ffd268f-50f2-4cff-bd89-91ea207d0b8f","block_type":"box","text":"Accounting end dates","page_number":86,"box":{"x":57,"y":199,"width":126,"height":8}},{"id":"39eaf704-79bc-484a-a03b-8793ab32182d","block_type":"box","text":"31","page_number":86,"box":{"x":288,"y":199,"width":10,"height":7}},{"id":"8515b456-e533-465b-83bd-e2b692d0213f","block_type":"box","text":"December (final)","page_number":86,"box":{"x":305,"y":199,"width":88,"height":8}},{"id":"c09c03c8-6681-4b70-a8bd-8c8b0d367215","block_type":"box","text":"30","page_number":86,"box":{"x":288,"y":219,"width":12,"height":6}},{"id":"4b939aab-050b-4d2f-b039-4af3ee0cdb8c","block_type":"box","text":"June (interim)","page_number":86,"box":{"x":305,"y":219,"width":72,"height":8}},{"id":"d6561f70-40e8-4bd6-b2fc-e25bd841ceaf","block_type":"box","text":"Distribution dates","page_number":86,"box":{"x":57,"y":239,"width":103,"height":6}},{"id":"6257b8ca-589b-4780-9ba8-c4e3074f130c","block_type":"box","text":"28","page_number":86,"box":{"x":288,"y":239,"width":12,"height":6}},{"id":"e5e04fc9-f2de-4ade-9caf-e79ba87b4c7e","block_type":"box","text":"February (final)","page_number":86,"box":{"x":305,"y":238,"width":81,"height":8}},{"id":"7fe62756-1b78-46a0-8122-ea8be4ebc668","block_type":"box","text":"31","page_number":86,"box":{"x":288,"y":258,"width":10,"height":6}},{"id":"1c5cd896-3bca-4066-8049-88af792fb23c","block_type":"box","text":"August (interim)","page_number":86,"box":{"x":304,"y":258,"width":84,"height":8}},{"id":"4c01807b-6151-4f9b-b213-029061c41390","block_type":"box","text":"Minimum investment","page_number":86,"box":{"x":57,"y":278,"width":120,"height":6}},{"id":"89f2482a-a1cc-48c9-94ba-b806fe6251b9","block_type":"box","text":"Class M","page_number":86,"box":{"x":219,"y":277,"width":42,"height":7}},{"id":"6aec01c4-e24e-4ba3-8730-c611f9046a95","block_type":"box","text":"£10,000 (thereafter £1,000)","page_number":86,"box":{"x":288,"y":277,"width":146,"height":8}},{"id":"b88a7249-3d8f-448e-8e6b-12890cc6ba59","block_type":"box","text":"Class P","page_number":86,"box":{"x":219,"y":297,"width":40,"height":6}},{"id":"86cbc18e-5711-4ef3-8ad1-cdbc841bfcc2","block_type":"box","text":"n/a","page_number":86,"box":{"x":288,"y":297,"width":16,"height":6}},{"id":"b04546f1-b6d9-4ea2-9394-76a4733b644d","block_type":"box","text":"Class R","page_number":86,"box":{"x":219,"y":317,"width":41,"height":6}},{"id":"172bb4cd-73d3-4a23-825a-34a84bb48513","block_type":"box","text":"n/a","page_number":86,"box":{"x":288,"y":317,"width":16,"height":6}},{"id":"aa35429b-2f64-4774-bdd9-5758e59d6c78","block_type":"box","text":"Class S","page_number":86,"box":{"x":219,"y":336,"width":40,"height":6}},{"id":"4df046dd-6f89-4d5b-8516-8e08f43ffc3a","block_type":"box","text":"n/a","page_number":86,"box":{"x":288,"y":336,"width":16,"height":6}},{"id":"820ba14c-4442-459e-b6b8-ed40a84cb4f5","block_type":"box","text":"Class Z","page_number":86,"box":{"x":219,"y":356,"width":40,"height":6}},{"id":"47d1e2b6-1f78-40e9-8a4a-7a94b9d96d07","block_type":"box","text":"£5,000,000 (thereafter £50,000)","page_number":86,"box":{"x":288,"y":356,"width":171,"height":7}},{"id":"26236123-7f8d-40d7-b800-6c31498f76d4","block_type":"box","text":"Initial Management","page_number":86,"box":{"x":57,"y":375,"width":109,"height":8}},{"id":"58c10a19-1c93-4769-a635-78a0987dc11f","block_type":"box","text":"charge","page_number":86,"box":{"x":57,"y":385,"width":39,"height":7}},{"id":"0ab0fcd9-f403-40ee-8b06-9e852db1ec30","block_type":"box","text":"Class M","page_number":86,"box":{"x":219,"y":375,"width":42,"height":6}},{"id":"28ee1389-ce94-4465-941a-7bf6bbc9a0d7","block_type":"box","text":"nil","page_number":86,"box":{"x":288,"y":375,"width":11,"height":6}},{"id":"5635c888-bb95-483e-a4dd-12028eab0483","block_type":"box","text":"Class P","page_number":86,"box":{"x":219,"y":395,"width":40,"height":6}},{"id":"2dd8faa0-ceb0-4d41-a620-82ab009ad36b","block_type":"box","text":"nil","page_number":86,"box":{"x":288,"y":395,"width":11,"height":6}},{"id":"beedd086-f706-4ca2-9065-5adedd10af78","block_type":"box","text":"Class R","page_number":86,"box":{"x":219,"y":414,"width":41,"height":6}},{"id":"abbc42ec-40fa-4bbd-baef-94325e1dfea5","block_type":"box","text":"nil","page_number":86,"box":{"x":288,"y":414,"width":11,"height":6}},{"id":"28e4617d-a726-4f36-9326-dafb035802bd","block_type":"box","text":"Class S","page_number":86,"box":{"x":219,"y":434,"width":40,"height":6}},{"id":"909b2aa2-f910-4405-8fd4-4ae8a3f4ea5b","block_type":"box","text":"nil","page_number":86,"box":{"x":288,"y":434,"width":11,"height":6}},{"id":"6ce17273-c5db-4aab-bb3b-2bf810481fbc","block_type":"box","text":"Class Z","page_number":86,"box":{"x":219,"y":453,"width":40,"height":6}},{"id":"c3a8326a-6249-4500-94a4-f6cc71e9b548","block_type":"box","text":"nil","page_number":86,"box":{"x":288,"y":453,"width":11,"height":6}},{"id":"b32b2a93-14f2-49fa-97c3-d6b8622127bd","block_type":"box","text":"Fund Management Fee","page_number":86,"box":{"x":58,"y":473,"width":129,"height":7}},{"id":"1624a5ed-e70f-45ad-aaaa-b55f847ed51a","block_type":"box","text":"Class M","page_number":86,"box":{"x":219,"y":473,"width":42,"height":6}},{"id":"659ea6dd-2815-463a-aaf0-9c8dd1b5200b","block_type":"box","text":"0.60%","page_number":86,"box":{"x":288,"y":473,"width":33,"height":6}},{"id":"009cedf1-5704-44b9-a2f8-8802f3e2de3b","block_type":"box","text":"Class P","page_number":86,"box":{"x":219,"y":492,"width":40,"height":6}},{"id":"c458ff69-f84c-4ecb-a33c-5e41079784ad","block_type":"box","text":"0.55%","page_number":86,"box":{"x":288,"y":492,"width":33,"height":6}},{"id":"7848bb15-e895-4d2b-872b-b5ce2e1501c2","block_type":"box","text":"Class R","page_number":86,"box":{"x":219,"y":512,"width":41,"height":6}},{"id":"b107265c-8430-4ab2-b7f8-62f4db4776de","block_type":"box","text":"0.12%","page_number":86,"box":{"x":288,"y":512,"width":31,"height":6}},{"id":"66af7faa-9ae3-4a4e-89e3-7c615787a8eb","block_type":"box","text":"Class S","page_number":86,"box":{"x":219,"y":531,"width":40,"height":6}},{"id":"99ac49a9-9d6e-4dd9-9666-5ce48acca534","block_type":"box","text":"0.15%","page_number":86,"box":{"x":288,"y":531,"width":31,"height":7}},{"id":"ba006652-238f-4cd9-9095-67fe240ab6b0","block_type":"box","text":"Class Z","page_number":86,"box":{"x":219,"y":551,"width":40,"height":6}},{"id":"70b107c9-54b3-4dce-9026-7c4f54bbb934","block_type":"box","text":"0.30%","page_number":86,"box":{"x":288,"y":551,"width":33,"height":6}},{"id":"c1219d46-739a-491b-9450-4c5375ea2df9","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund","page_number":86,"box":{"x":522,"y":151,"width":386,"height":11}},{"id":"9a9b5439-fc02-4456-8dbf-808f1453fe17","block_type":"box","text":"Launch date","page_number":86,"box":{"x":522,"y":180,"width":70,"height":6}},{"id":"4163fd5c-5bf3-4b36-9d88-c2e372572924","block_type":"box","text":"14","page_number":86,"box":{"x":753,"y":180,"width":11,"height":6}},{"id":"a25f1b54-b1ca-4fb8-924a-1ddda95417d9","block_type":"box","text":"March 2016","page_number":86,"box":{"x":769,"y":180,"width":61,"height":6}},{"id":"9515665f-1b82-472c-bafd-411b2922b75b","block_type":"box","text":"Accounting end dates","page_number":86,"box":{"x":521,"y":199,"width":126,"height":8}},{"id":"24097caa-3c43-4640-b9d1-fc99f6d24c3f","block_type":"box","text":"31","page_number":86,"box":{"x":752,"y":199,"width":11,"height":7}},{"id":"aaec3cf6-eaa5-43cd-a0e7-8c4860409b72","block_type":"box","text":"December (final)","page_number":86,"box":{"x":769,"y":199,"width":88,"height":8}},{"id":"6e687295-39e3-458b-a24b-0aca6c9057fe","block_type":"box","text":"30","page_number":86,"box":{"x":752,"y":219,"width":13,"height":6}},{"id":"e1caae34-a0df-4000-b86f-c163898ce089","block_type":"box","text":"June (interim)","page_number":86,"box":{"x":769,"y":219,"width":72,"height":8}},{"id":"fd05b46a-9400-49c1-839f-0936e57afa59","block_type":"box","text":"Distribution dates","page_number":86,"box":{"x":522,"y":239,"width":103,"height":6}},{"id":"962ee6cf-8560-4a0b-b040-deb9e47f0fa6","block_type":"box","text":"28","page_number":86,"box":{"x":752,"y":239,"width":13,"height":6}},{"id":"b61665e6-b5bf-4563-be18-1619d2a7251d","block_type":"box","text":"February (final)","page_number":86,"box":{"x":769,"y":238,"width":81,"height":8}},{"id":"4d251d35-9305-43ff-8396-970278bcd633","block_type":"box","text":"31","page_number":86,"box":{"x":752,"y":258,"width":11,"height":6}},{"id":"7d62018b-7334-461f-b6a2-2e3b45e4330c","block_type":"box","text":"August (interim)","page_number":86,"box":{"x":768,"y":258,"width":84,"height":8}},{"id":"3bd004f0-9b2b-404d-a0a3-3d9d40e5fcc0","block_type":"box","text":"Minimum investment","page_number":86,"box":{"x":522,"y":278,"width":119,"height":6}},{"id":"2017fcd6-6509-4fb6-a34a-89e596031697","block_type":"box","text":"Class M","page_number":86,"box":{"x":683,"y":277,"width":42,"height":7}},{"id":"d695afc2-5e52-435e-9f50-5bff25918b16","block_type":"box","text":"£10,000 (thereafter £1,000)","page_number":86,"box":{"x":752,"y":277,"width":146,"height":8}},{"id":"b3db5e43-2999-417f-801e-49756771c2d0","block_type":"box","text":"Class P","page_number":86,"box":{"x":683,"y":297,"width":41,"height":6}},{"id":"fec9d1d7-fab6-4eab-9745-5db116ea5f68","block_type":"box","text":"n/a","page_number":86,"box":{"x":753,"y":297,"width":15,"height":6}},{"id":"fe3aff9a-facd-4115-a987-d0bf20242f6a","block_type":"box","text":"Class R","page_number":86,"box":{"x":683,"y":317,"width":42,"height":6}},{"id":"465acd4d-9e4b-4769-85d3-02c89ee36ca9","block_type":"box","text":"n/a","page_number":86,"box":{"x":753,"y":317,"width":15,"height":6}},{"id":"546aae1e-965f-462e-a2b6-fff1d271d1c9","block_type":"box","text":"Class S","page_number":86,"box":{"x":683,"y":336,"width":40,"height":6}},{"id":"81cc9e5b-00b0-414c-a6d2-36a961ed56d3","block_type":"box","text":"n/a","page_number":86,"box":{"x":753,"y":336,"width":15,"height":6}},{"id":"49783a9d-62a5-4581-b96c-a40fceab5f3a","block_type":"box","text":"Class Z","page_number":86,"box":{"x":683,"y":356,"width":40,"height":6}},{"id":"5593d01f-5d27-4daa-9d32-86313d1b131f","block_type":"box","text":"£5,000,000 (thereafter £50,000)","page_number":86,"box":{"x":752,"y":356,"width":171,"height":7}},{"id":"a0a9c62b-98c9-47d5-a4b3-c81a450c1248","block_type":"box","text":"Initial Management","page_number":86,"box":{"x":522,"y":375,"width":109,"height":8}},{"id":"44000d0f-47ce-4968-bb63-2b8079f2ad5b","block_type":"box","text":"charge","page_number":86,"box":{"x":521,"y":385,"width":39,"height":7}},{"id":"7fcff14f-c37b-4898-ab79-e703b4ddce5f","block_type":"box","text":"Class M","page_number":86,"box":{"x":683,"y":375,"width":42,"height":6}},{"id":"435f23a7-0e16-4746-a3e2-33c2fe8efa5e","block_type":"box","text":"nil","page_number":86,"box":{"x":753,"y":375,"width":10,"height":6}},{"id":"a2e76c65-28e2-4a24-84ab-8f20512a1aa8","block_type":"box","text":"Class P","page_number":86,"box":{"x":683,"y":395,"width":41,"height":6}},{"id":"8188536a-1d7f-4604-a908-752645c1d670","block_type":"box","text":"nil","page_number":86,"box":{"x":753,"y":395,"width":10,"height":6}},{"id":"68fa69c9-ea95-4736-a3dd-acc30b6384f7","block_type":"box","text":"Class R","page_number":86,"box":{"x":683,"y":414,"width":42,"height":6}},{"id":"1841184f-fc26-43b4-8bf4-d89576dcb89b","block_type":"box","text":"nil","page_number":86,"box":{"x":753,"y":414,"width":10,"height":6}},{"id":"e9b7d73d-1a32-4def-be4b-de04c403092d","block_type":"box","text":"Class S","page_number":86,"box":{"x":683,"y":434,"width":40,"height":6}},{"id":"1a1d22d7-0a5c-4234-8ddb-fac773d13a78","block_type":"box","text":"nil","page_number":86,"box":{"x":753,"y":434,"width":10,"height":6}},{"id":"8901256f-bb33-4bda-be89-d07dbeea7c75","block_type":"box","text":"Class Z","page_number":86,"box":{"x":683,"y":453,"width":40,"height":6}},{"id":"f750719d-0406-4daf-81d9-fdfe51a94fb7","block_type":"box","text":"nil","page_number":86,"box":{"x":753,"y":453,"width":10,"height":6}},{"id":"40c44734-224f-4a08-9100-66b5a7d793d1","block_type":"box","text":"Fund Management Fee","page_number":86,"box":{"x":522,"y":473,"width":129,"height":7}},{"id":"801ff7f7-5110-46f1-aef2-6ed1de07ae91","block_type":"box","text":"Class M","page_number":86,"box":{"x":683,"y":473,"width":42,"height":6}},{"id":"2cfe21b5-ea7e-49df-9bfb-55bf09a17ebf","block_type":"box","text":"0.60%","page_number":86,"box":{"x":752,"y":473,"width":33,"height":6}},{"id":"920aec33-cd12-4a38-a92e-661953169a61","block_type":"box","text":"Class P","page_number":86,"box":{"x":683,"y":492,"width":41,"height":6}},{"id":"a571f59d-494e-4a49-a840-671b4facf80b","block_type":"box","text":"0.55%","page_number":86,"box":{"x":752,"y":492,"width":33,"height":6}},{"id":"c2ca1072-ad40-47bf-ab20-980491d30058","block_type":"box","text":"Class R","page_number":86,"box":{"x":683,"y":512,"width":42,"height":6}},{"id":"d7e9c58c-1184-4e12-9b55-b11dcd8792ad","block_type":"box","text":"0.12%","page_number":86,"box":{"x":752,"y":512,"width":32,"height":6}},{"id":"22751508-639b-4df2-8668-1f92b5fafc9a","block_type":"box","text":"Class S","page_number":86,"box":{"x":683,"y":531,"width":40,"height":6}},{"id":"f1d05de1-d012-4073-8198-b6763ee994d2","block_type":"box","text":"0.15%","page_number":86,"box":{"x":752,"y":531,"width":32,"height":7}},{"id":"2768d2af-9801-497e-9db5-349ba23ff704","block_type":"box","text":"Class Z","page_number":86,"box":{"x":683,"y":551,"width":40,"height":6}},{"id":"b489c3be-52b5-460b-89d1-cf0de65e3ef7","block_type":"box","text":"0.30%","page_number":86,"box":{"x":752,"y":551,"width":33,"height":6}},{"id":"f1d72064-d48b-4123-8b75-bce050b63347","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":86,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"eb19906a-7802-4192-9021-a9d3487e6c0e","block_type":"box","text":"86","page_number":86,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"7e4a54b1-4c6c-4448-88bd-8d284562d8e8","block_type":"box","text":"Fact File","page_number":87,"box":{"x":58,"y":94,"width":109,"height":11}},{"id":"4d2e8763-1806-4a14-99fd-1a9c0cf41aad","block_type":"box","text":"(continued)","page_number":87,"box":{"x":168,"y":97,"width":75,"height":10}},{"id":"4679e4a7-7abb-4482-9903-3433a7994fd8","block_type":"box","text":"Constitution","page_number":87,"box":{"x":58,"y":119,"width":154,"height":12}},{"id":"4af4304f-4502-4e1d-9d5b-f239a1273780","block_type":"box","text":"(continued)","page_number":87,"box":{"x":213,"y":123,"width":74,"height":10}},{"id":"daa5dc65-af36-48a4-ba31-448d56086a35","block_type":"box","text":"Royal London Multi Asset Strategies Fund","page_number":87,"box":{"x":58,"y":151,"width":386,"height":11}},{"id":"90c17653-559d-445f-b6bd-39feffc9b99e","block_type":"box","text":"Launch date","page_number":87,"box":{"x":58,"y":180,"width":70,"height":6}},{"id":"c73f2c2e-05a0-410e-9eb6-9586332b57c2","block_type":"box","text":"23","page_number":87,"box":{"x":288,"y":180,"width":12,"height":6}},{"id":"008c91dd-42cd-4866-afab-b36b0e411faa","block_type":"box","text":"November 2018","page_number":87,"box":{"x":305,"y":180,"width":83,"height":6}},{"id":"f1f83ebe-bd1b-48ee-87ea-73b6a840d1ec","block_type":"box","text":"Accounting end dates","page_number":87,"box":{"x":57,"y":199,"width":126,"height":8}},{"id":"087decdb-02cc-4e77-8939-df593ae1565d","block_type":"box","text":"31","page_number":87,"box":{"x":288,"y":199,"width":10,"height":7}},{"id":"51f1c790-d992-43e9-b404-bc90c4322174","block_type":"box","text":"December (final)","page_number":87,"box":{"x":305,"y":199,"width":88,"height":8}},{"id":"ce982f43-5078-45e7-b277-19dc119194ca","block_type":"box","text":"30","page_number":87,"box":{"x":288,"y":219,"width":12,"height":6}},{"id":"0d8efc4f-1f37-481d-be07-373c406705ec","block_type":"box","text":"June (interim)","page_number":87,"box":{"x":305,"y":219,"width":72,"height":8}},{"id":"ffef5ae9-ab77-4880-9b25-7216798cf868","block_type":"box","text":"Distribution dates","page_number":87,"box":{"x":57,"y":239,"width":103,"height":6}},{"id":"16f9b669-3eae-4454-a853-8e1fda753979","block_type":"box","text":"28","page_number":87,"box":{"x":288,"y":239,"width":12,"height":6}},{"id":"34f422cb-d0a8-4e63-910c-76436cbbe73d","block_type":"box","text":"February (final)","page_number":87,"box":{"x":305,"y":238,"width":81,"height":8}},{"id":"87198c1f-f1a4-4ab9-868b-30e6cd6cddab","block_type":"box","text":"31","page_number":87,"box":{"x":288,"y":258,"width":10,"height":6}},{"id":"683417f3-c46f-4901-97f6-5133b8d4c4d8","block_type":"box","text":"August (interim)","page_number":87,"box":{"x":304,"y":258,"width":84,"height":8}},{"id":"8e908b98-7503-4a83-b706-e5f5b98a2736","block_type":"box","text":"Minimum investment","page_number":87,"box":{"x":57,"y":278,"width":120,"height":6}},{"id":"1600c1a3-5b6e-4c8c-a969-df69026e5733","block_type":"box","text":"Class M","page_number":87,"box":{"x":219,"y":277,"width":42,"height":7}},{"id":"433247ed-a5be-4198-9b52-54def9a9178c","block_type":"box","text":"£10,000 (thereafter £1,000)","page_number":87,"box":{"x":288,"y":277,"width":146,"height":8}},{"id":"939023e8-f8b5-4dbc-b3a8-23457bea69f5","block_type":"box","text":"Class R","page_number":87,"box":{"x":219,"y":297,"width":41,"height":6}},{"id":"5cf1f945-379e-4209-a87c-af0a154cabdb","block_type":"box","text":"n/a","page_number":87,"box":{"x":288,"y":297,"width":16,"height":6}},{"id":"e2d9073a-d04c-4730-855f-78d51fd53acc","block_type":"box","text":"Class S","page_number":87,"box":{"x":219,"y":317,"width":40,"height":6}},{"id":"b3193d62-ed55-41f4-9408-a6bb944dea04","block_type":"box","text":"n/a","page_number":87,"box":{"x":288,"y":317,"width":16,"height":6}},{"id":"b346a25d-7ecb-4d5e-ad86-28173f843dd4","block_type":"box","text":"Initial Management","page_number":87,"box":{"x":57,"y":336,"width":109,"height":8}},{"id":"3492c58b-42a9-4770-a43d-622d107d5ad0","block_type":"box","text":"charge","page_number":87,"box":{"x":57,"y":346,"width":39,"height":7}},{"id":"a5d98af6-f108-449a-a7f2-0d35682b83e6","block_type":"box","text":"Class M","page_number":87,"box":{"x":219,"y":336,"width":42,"height":6}},{"id":"0eb563a2-6a0f-4a1b-a58c-1d61c4a21278","block_type":"box","text":"nil","page_number":87,"box":{"x":288,"y":336,"width":11,"height":6}},{"id":"50e74dde-b53d-48f7-8346-06429077becb","block_type":"box","text":"Class R","page_number":87,"box":{"x":219,"y":356,"width":41,"height":6}},{"id":"8cee85f5-66d3-4b5e-9b15-2e9cc7976141","block_type":"box","text":"nil","page_number":87,"box":{"x":288,"y":356,"width":11,"height":6}},{"id":"692dc1c9-95ca-4c7a-abde-99d3f79f9fab","block_type":"box","text":"Class S","page_number":87,"box":{"x":219,"y":375,"width":40,"height":6}},{"id":"264de156-ae7b-4c1c-a1f0-49def101ba71","block_type":"box","text":"nil","page_number":87,"box":{"x":288,"y":375,"width":11,"height":6}},{"id":"1ad4fa41-7d08-4f08-b08c-8a603bdd1b1f","block_type":"box","text":"Fund Management Fee","page_number":87,"box":{"x":58,"y":395,"width":129,"height":7}},{"id":"02c9611e-6d7d-4f6d-ba33-1ab292120cd7","block_type":"box","text":"Class M","page_number":87,"box":{"x":219,"y":395,"width":42,"height":6}},{"id":"61b05e93-35da-4a83-9cd3-e25b9e4360cc","block_type":"box","text":"0.55%","page_number":87,"box":{"x":288,"y":395,"width":33,"height":6}},{"id":"b800710d-ea40-44b6-aeac-21249fe43b30","block_type":"box","text":"Class R","page_number":87,"box":{"x":219,"y":414,"width":41,"height":6}},{"id":"bad01c8c-42b2-491b-8410-054e7d5b23e7","block_type":"box","text":"0.10%","page_number":87,"box":{"x":288,"y":414,"width":31,"height":6}},{"id":"a8bef1d0-2f49-4831-918c-aed33a8d876c","block_type":"box","text":"Class S","page_number":87,"box":{"x":219,"y":434,"width":40,"height":6}},{"id":"fbc441d2-85b8-4c32-8b4d-9372a3771d45","block_type":"box","text":"0.10%","page_number":87,"box":{"x":288,"y":434,"width":31,"height":6}},{"id":"0d3530b9-e602-46ab-a264-fcf71ca70f60","block_type":"box","text":"Royal London GMAP Moderate Growth Fund","page_number":87,"box":{"x":522,"y":151,"width":403,"height":11}},{"id":"58310460-e7d1-4d78-a638-cd0f86b4e1ba","block_type":"box","text":"Launch date","page_number":87,"box":{"x":522,"y":180,"width":70,"height":6}},{"id":"239bf9cd-462e-47a3-8d15-785d5294dfbb","block_type":"box","text":"25","page_number":87,"box":{"x":752,"y":180,"width":13,"height":6}},{"id":"c551022c-be42-4053-84b0-8b9a71a2e485","block_type":"box","text":"July 2024","page_number":87,"box":{"x":769,"y":180,"width":50,"height":8}},{"id":"36fcfbc2-cbe5-4e0e-b62d-2c00581432f7","block_type":"box","text":"Accounting end dates","page_number":87,"box":{"x":521,"y":199,"width":126,"height":8}},{"id":"49e56f59-b1d3-4154-95e5-168fb47e1f91","block_type":"box","text":"31","page_number":87,"box":{"x":752,"y":199,"width":11,"height":7}},{"id":"050f5993-58aa-43df-ad8f-10194418e794","block_type":"box","text":"December (final)","page_number":87,"box":{"x":769,"y":199,"width":88,"height":8}},{"id":"b15f2d47-3b44-4824-9222-b68968de2283","block_type":"box","text":"30","page_number":87,"box":{"x":752,"y":219,"width":13,"height":6}},{"id":"20ddfb6e-d6c3-4f9a-b643-adee5bb2540e","block_type":"box","text":"June (interim)","page_number":87,"box":{"x":769,"y":219,"width":72,"height":8}},{"id":"b5170962-548d-4eb1-8c0f-e8d9e9d10670","block_type":"box","text":"Distribution dates","page_number":87,"box":{"x":522,"y":239,"width":103,"height":6}},{"id":"f0a901ca-a3a0-48a0-bdd3-e51a77eef847","block_type":"box","text":"28","page_number":87,"box":{"x":752,"y":239,"width":13,"height":6}},{"id":"ef36bf1a-01b5-4ee8-82d8-7ed7c113d455","block_type":"box","text":"February (final)","page_number":87,"box":{"x":769,"y":238,"width":81,"height":8}},{"id":"e1abf883-6f97-4464-acfa-0facc0bb4359","block_type":"box","text":"31","page_number":87,"box":{"x":752,"y":258,"width":11,"height":6}},{"id":"c18e1bec-83ac-46be-ab49-dceb6dc16710","block_type":"box","text":"August (interim)","page_number":87,"box":{"x":768,"y":258,"width":84,"height":8}},{"id":"447b3ac1-6aa4-4fbc-a3a6-500e859b9de8","block_type":"box","text":"Minimum investment","page_number":87,"box":{"x":522,"y":278,"width":119,"height":6}},{"id":"52a61838-8b9e-487b-89fe-aa1852c48bcc","block_type":"box","text":"Class M","page_number":87,"box":{"x":683,"y":277,"width":42,"height":7}},{"id":"812e19d6-1da2-4cea-b506-e9737e2d3674","block_type":"box","text":"£10,000 (thereafter £1,000)","page_number":87,"box":{"x":752,"y":277,"width":146,"height":8}},{"id":"54b391b9-d1db-4553-9c2e-6918dced073b","block_type":"box","text":"Class R","page_number":87,"box":{"x":683,"y":297,"width":42,"height":6}},{"id":"5dd75825-bb30-477d-b38a-1c5b327b47aa","block_type":"box","text":"n/a","page_number":87,"box":{"x":753,"y":297,"width":15,"height":6}},{"id":"b0514d71-cdb5-4815-a641-40e8acde4842","block_type":"box","text":"Class S","page_number":87,"box":{"x":683,"y":317,"width":40,"height":6}},{"id":"d0da8891-0285-4a90-a520-cc77c1de6366","block_type":"box","text":"n/a","page_number":87,"box":{"x":753,"y":317,"width":15,"height":6}},{"id":"3b07d461-8358-4231-891f-87ff0cd2de85","block_type":"box","text":"Class Z","page_number":87,"box":{"x":683,"y":336,"width":40,"height":6}},{"id":"906f50fe-0b61-47f1-a7fa-b459480a5ca9","block_type":"box","text":"£5,000,000 (thereafter £50,000)","page_number":87,"box":{"x":752,"y":336,"width":171,"height":8}},{"id":"4ac23f82-1642-465f-80a4-0c4a85e5d505","block_type":"box","text":"Initial Management","page_number":87,"box":{"x":522,"y":356,"width":109,"height":7}},{"id":"a786e828-9998-4401-b02d-590e3115aa5d","block_type":"box","text":"charge","page_number":87,"box":{"x":521,"y":365,"width":39,"height":8}},{"id":"8fe8a203-076f-492c-bacf-8d5278e41a00","block_type":"box","text":"Class M","page_number":87,"box":{"x":683,"y":356,"width":42,"height":6}},{"id":"f56f4b08-e912-4395-9416-9f0e604e09c7","block_type":"box","text":"nil","page_number":87,"box":{"x":753,"y":356,"width":10,"height":6}},{"id":"95dcb7e3-1c58-4d39-8afb-515304f22799","block_type":"box","text":"Class R","page_number":87,"box":{"x":683,"y":375,"width":42,"height":6}},{"id":"991268ea-3c76-4964-a154-895d8e63dff4","block_type":"box","text":"nil","page_number":87,"box":{"x":753,"y":375,"width":10,"height":6}},{"id":"32771360-2014-4443-9e53-e6239aaaf25f","block_type":"box","text":"Class S","page_number":87,"box":{"x":683,"y":395,"width":40,"height":6}},{"id":"576b3cb8-6253-42ba-baed-2fc1506278f0","block_type":"box","text":"nil","page_number":87,"box":{"x":753,"y":395,"width":10,"height":6}},{"id":"ca9038fa-aaaa-42cf-8ede-e1b9cc1fc97e","block_type":"box","text":"Class Z","page_number":87,"box":{"x":683,"y":414,"width":40,"height":6}},{"id":"11ddb8c4-ed2d-45ab-acad-40eb0b495e9c","block_type":"box","text":"nil","page_number":87,"box":{"x":753,"y":414,"width":10,"height":6}},{"id":"f0a11883-bd0f-4d86-8406-54e3945daa69","block_type":"box","text":"Fund Management Fee","page_number":87,"box":{"x":522,"y":434,"width":129,"height":7}},{"id":"0ea75e73-6fb9-4ad7-a17b-62eae25b51a0","block_type":"box","text":"Class M","page_number":87,"box":{"x":683,"y":434,"width":42,"height":6}},{"id":"8b96a1bb-b5c1-492e-9a29-ff6c001558c9","block_type":"box","text":"0.60%","page_number":87,"box":{"x":752,"y":434,"width":33,"height":6}},{"id":"132d8601-d7cf-4a57-ba55-73c1cf968e41","block_type":"box","text":"Class R","page_number":87,"box":{"x":683,"y":453,"width":42,"height":6}},{"id":"72401334-b42a-43d1-bbd1-6dbcd50b085f","block_type":"box","text":"0.12%","page_number":87,"box":{"x":752,"y":453,"width":32,"height":6}},{"id":"a90b4f0a-06b8-4830-a646-a7316ac84df2","block_type":"box","text":"Class S","page_number":87,"box":{"x":683,"y":473,"width":40,"height":6}},{"id":"1ef4da91-089c-4676-b7c1-8557920220cd","block_type":"box","text":"0.15%","page_number":87,"box":{"x":752,"y":473,"width":32,"height":6}},{"id":"832a90ab-4417-4237-817d-fdafd8447319","block_type":"box","text":"Class Z","page_number":87,"box":{"x":683,"y":492,"width":40,"height":6}},{"id":"30c5d195-112d-4b8a-a79e-b20383defb66","block_type":"box","text":"0.30%","page_number":87,"box":{"x":752,"y":492,"width":33,"height":6}},{"id":"508664d1-944d-4026-a52e-ee5b9dfde13f","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":87,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"9b828a9e-58b7-4ccd-9e0c-fd713305ed98","block_type":"box","text":"87","page_number":87,"box":{"x":930,"y":33,"width":12,"height":6}},{"id":"c819630d-9773-4b90-af9f-8b44a88c46fa","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund","page_number":88,"box":{"x":58,"y":151,"width":414,"height":11}},{"id":"8e0f2b1b-285f-494d-a1f9-1aa420c4e8c6","block_type":"box","text":"Launch date","page_number":88,"box":{"x":58,"y":180,"width":70,"height":6}},{"id":"eecb00be-2425-469a-a889-31c2f068c8ca","block_type":"box","text":"9","page_number":88,"box":{"x":288,"y":180,"width":6,"height":6}},{"id":"fe039881-4382-452d-b76c-d50724e1df1e","block_type":"box","text":"January 2026","page_number":88,"box":{"x":298,"y":180,"width":72,"height":8}},{"id":"42cbf202-8efb-4905-a59b-119916194354","block_type":"box","text":"Accounting end dates","page_number":88,"box":{"x":57,"y":199,"width":126,"height":8}},{"id":"73cb1edc-9552-4b1f-872f-5f74d2353655","block_type":"box","text":"31","page_number":88,"box":{"x":288,"y":199,"width":10,"height":7}},{"id":"a0215b88-f6fa-4117-84af-77f66acfe108","block_type":"box","text":"December (final)","page_number":88,"box":{"x":305,"y":199,"width":88,"height":8}},{"id":"b3dda523-d269-4d4e-8b4a-3000ab09d474","block_type":"box","text":"30","page_number":88,"box":{"x":288,"y":219,"width":12,"height":6}},{"id":"5c5d4f35-657a-48c6-b5b6-4847ba488a55","block_type":"box","text":"June (interim)","page_number":88,"box":{"x":305,"y":219,"width":72,"height":8}},{"id":"e9eccb3b-a1b7-4406-a240-20b47dab8cd2","block_type":"box","text":"Distribution dates","page_number":88,"box":{"x":57,"y":239,"width":103,"height":6}},{"id":"5041887e-e672-4f7d-b0dc-2ec0b811cc1c","block_type":"box","text":"28","page_number":88,"box":{"x":288,"y":239,"width":12,"height":6}},{"id":"c7f5f746-e7c6-4a0b-afe0-af1e5a2b4923","block_type":"box","text":"February (final)","page_number":88,"box":{"x":305,"y":238,"width":81,"height":8}},{"id":"fadd45ac-a5e5-4f28-8699-d5b9d63c9db8","block_type":"box","text":"31","page_number":88,"box":{"x":288,"y":258,"width":10,"height":6}},{"id":"a2eae27c-8d81-499d-b601-9d4ec1e9a5df","block_type":"box","text":"August (interim)","page_number":88,"box":{"x":304,"y":258,"width":84,"height":8}},{"id":"d143f8df-ab90-448f-beb7-dc9326a74165","block_type":"box","text":"Minimum investment","page_number":88,"box":{"x":57,"y":278,"width":120,"height":6}},{"id":"58cabac5-31c4-42c5-a6c9-0ca8719d483c","block_type":"box","text":"Class M","page_number":88,"box":{"x":219,"y":277,"width":42,"height":7}},{"id":"7af548cd-716a-4cc2-a866-2ed3a1c94537","block_type":"box","text":"£10,000 (thereafter £1,000)","page_number":88,"box":{"x":288,"y":277,"width":146,"height":8}},{"id":"89dab625-90eb-4ba8-899d-fe2fe57f430d","block_type":"box","text":"Class R","page_number":88,"box":{"x":219,"y":297,"width":41,"height":6}},{"id":"4872922d-4f7f-429c-a56d-1e01c5caebcf","block_type":"box","text":"n/a","page_number":88,"box":{"x":288,"y":297,"width":16,"height":6}},{"id":"625bb0d9-c036-429a-b98e-88a1d48e6de7","block_type":"box","text":"Class S","page_number":88,"box":{"x":219,"y":317,"width":40,"height":6}},{"id":"a0511515-0618-48b7-92c0-4a70242e4179","block_type":"box","text":"n/a","page_number":88,"box":{"x":288,"y":317,"width":16,"height":6}},{"id":"7c2eaf89-5cbc-4d6a-975f-a32f2430e177","block_type":"box","text":"Class Z","page_number":88,"box":{"x":219,"y":336,"width":40,"height":6}},{"id":"d0afba51-d47d-426e-8b5a-1f02208e5e01","block_type":"box","text":"£5,000,000 (thereafter £50,000)","page_number":88,"box":{"x":288,"y":336,"width":171,"height":8}},{"id":"ea289ddf-8d74-4f4d-83d4-ac0f8be1ff97","block_type":"box","text":"Initial Management","page_number":88,"box":{"x":57,"y":356,"width":109,"height":7}},{"id":"765c3087-9f84-4aaf-bbe0-05a2bdd643de","block_type":"box","text":"charge","page_number":88,"box":{"x":57,"y":365,"width":39,"height":8}},{"id":"f9380ceb-6ffb-4c3b-8867-6898d685b86e","block_type":"box","text":"Class M","page_number":88,"box":{"x":219,"y":356,"width":42,"height":6}},{"id":"118aa8fc-fac0-4c87-bb0b-3b494ce634c5","block_type":"box","text":"nil","page_number":88,"box":{"x":288,"y":356,"width":11,"height":6}},{"id":"6f5254e5-6c9f-4515-93b9-1ee7e3d69d85","block_type":"box","text":"Class R","page_number":88,"box":{"x":219,"y":375,"width":41,"height":6}},{"id":"fdf2d89d-478d-4010-be8c-8e351037e12a","block_type":"box","text":"nil","page_number":88,"box":{"x":288,"y":375,"width":11,"height":6}},{"id":"693066a5-1f8d-4f1c-953f-c27117fb8774","block_type":"box","text":"Class S","page_number":88,"box":{"x":219,"y":395,"width":40,"height":6}},{"id":"95997e55-596a-48d1-8e09-c131905c0d10","block_type":"box","text":"nil","page_number":88,"box":{"x":288,"y":395,"width":11,"height":6}},{"id":"b24d881d-fe75-4ac5-9b73-076456f204cb","block_type":"box","text":"Class Z","page_number":88,"box":{"x":219,"y":414,"width":40,"height":6}},{"id":"e2035641-d6ab-4d18-a1ab-6833a76e0a2a","block_type":"box","text":"nil","page_number":88,"box":{"x":288,"y":414,"width":11,"height":6}},{"id":"728c38d6-bd6f-4db1-9b47-b4a9e9ef8dd1","block_type":"box","text":"Fund Management Fee","page_number":88,"box":{"x":58,"y":434,"width":129,"height":7}},{"id":"f150a1a5-72d3-4450-b5cf-e78bf3869178","block_type":"box","text":"Class M","page_number":88,"box":{"x":219,"y":434,"width":42,"height":6}},{"id":"6f6f60ff-f326-49a0-9829-b65e9788fad8","block_type":"box","text":"0.60%","page_number":88,"box":{"x":288,"y":434,"width":33,"height":6}},{"id":"7fd324bc-2d07-4c82-ba31-0b0ebf2e8fe6","block_type":"box","text":"Class R","page_number":88,"box":{"x":219,"y":453,"width":41,"height":6}},{"id":"f5aacc9e-96c5-4fe1-a798-bb1431215342","block_type":"box","text":"0.12%","page_number":88,"box":{"x":288,"y":453,"width":31,"height":6}},{"id":"88a70425-2fef-4e75-81a5-37efb7df1b1a","block_type":"box","text":"Class S","page_number":88,"box":{"x":219,"y":473,"width":40,"height":6}},{"id":"dd7f000a-dbca-4f5e-883c-9a07e1a7b0f9","block_type":"box","text":"0.15%","page_number":88,"box":{"x":288,"y":473,"width":31,"height":6}},{"id":"c148e20b-34ee-4660-8648-8339720f534a","block_type":"box","text":"Class Z","page_number":88,"box":{"x":219,"y":492,"width":40,"height":6}},{"id":"a8b46ee6-dee3-4d12-9887-df78cf9cbf94","block_type":"box","text":"0.30%","page_number":88,"box":{"x":288,"y":492,"width":33,"height":6}},{"id":"2b7ceeb8-35da-43e1-8abc-a9276590e623","block_type":"box","text":"Fact File","page_number":88,"box":{"x":58,"y":94,"width":109,"height":11}},{"id":"734fa996-027d-4e71-8739-b2ab2f145f7c","block_type":"box","text":"(continued)","page_number":88,"box":{"x":168,"y":97,"width":75,"height":10}},{"id":"9c3551d8-610b-4eac-9b70-592165b7be5b","block_type":"box","text":"Constitution","page_number":88,"box":{"x":58,"y":119,"width":154,"height":12}},{"id":"569b5145-2a3c-407d-ba25-2681e25afa93","block_type":"box","text":"(continued)","page_number":88,"box":{"x":213,"y":123,"width":74,"height":10}},{"id":"bf93023f-3cab-49c7-b6fb-5c015de103b1","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":88,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"e07ab62b-284a-4afb-a913-aa0e9c90bd9e","block_type":"box","text":"88","page_number":88,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"fab6cb7d-636b-404d-b214-654afd25619f","block_type":"box","text":"Synthetic Risk and Reward Indicators","page_number":89,"box":{"x":57,"y":151,"width":351,"height":11}},{"id":"853f6c40-b66e-4a9f-921e-8d521579cf17","block_type":"box","text":"Please note that Synthetic Risk and Reward Indicators (SRRIs)","page_number":89,"box":{"x":58,"y":169,"width":420,"height":10}},{"id":"aecec6b4-0343-4895-a5ec-2c57d5ffa264","block_type":"box","text":"are calculated on a share class basis. The Synthetic Risk","page_number":89,"box":{"x":57,"y":184,"width":421,"height":10}},{"id":"8b99d254-9eb5-4533-9303-4c6a0e7eb9e5","block_type":"box","text":"and Reward Indicator is calculated according to European","page_number":89,"box":{"x":57,"y":198,"width":420,"height":10}},{"id":"a2a8846c-acf4-4959-a2d6-a22cc44178c5","block_type":"box","text":"Securities and Markets Authority (ESMA) regulations, to allow","page_number":89,"box":{"x":57,"y":212,"width":421,"height":10}},{"id":"238cc1a2-f7e3-44a3-a422-afc385880f52","block_type":"box","text":"investors to compare Funds on the same basis.","page_number":89,"box":{"x":58,"y":226,"width":317,"height":10}},{"id":"0aefd156-ec90-44b3-9199-66bcb1419bc9","block_type":"box","text":"Investors should note the SRRI is based on historical data","page_number":89,"box":{"x":58,"y":247,"width":419,"height":8}},{"id":"08dc4ae2-ccd4-444a-8ded-a8450e1b6276","block_type":"box","text":"and may not be a reliable indication of the future risk profile of","page_number":89,"box":{"x":57,"y":262,"width":422,"height":10}},{"id":"f5ce6f7c-6f3e-4acd-9a8e-1d60d2ff0901","block_type":"box","text":"the Funds.","page_number":89,"box":{"x":57,"y":276,"width":70,"height":8}},{"id":"7a848268-b9ae-427b-b074-ebadb6e46470","block_type":"box","text":"The lowest rating does not mean “risk free” and it does not","page_number":89,"box":{"x":57,"y":297,"width":421,"height":10}},{"id":"cf095f63-a2d9-4449-9186-44a29a9593db","block_type":"box","text":"measure the risk that you may suffer a capital loss. A higher","page_number":89,"box":{"x":58,"y":311,"width":420,"height":10}},{"id":"14e1152a-cadb-4eed-8bad-82acddbb1886","block_type":"box","text":"rating may increase the risk of losing money. For SRRI","page_number":89,"box":{"x":58,"y":325,"width":419,"height":10}},{"id":"87eb9b4e-3045-49fe-ad3a-9ea7b2e76bf9","block_type":"box","text":"information in relation to a specific share class, please always","page_number":89,"box":{"x":58,"y":340,"width":419,"height":10}},{"id":"cc1a536e-8644-44f9-abd0-b714c0f43280","block_type":"box","text":"refer to the relevant Key Investor Information Document (KIID)","page_number":89,"box":{"x":58,"y":354,"width":420,"height":10}},{"id":"2f640442-8b3a-4835-9684-8fe24c01e457","block_type":"box","text":"available on our website.","page_number":89,"box":{"x":57,"y":368,"width":166,"height":8}},{"id":"64e8ca7d-74c7-43e5-a738-f4a1d2eac162","block_type":"box","text":"Fact File","page_number":89,"box":{"x":58,"y":94,"width":109,"height":11}},{"id":"c5f7d5ee-d55e-4f23-bf67-6ec1aed2b9ce","block_type":"box","text":"(continued)","page_number":89,"box":{"x":168,"y":97,"width":75,"height":10}},{"id":"326b3b91-36c6-44d0-b716-4793e494aa2f","block_type":"box","text":"Investment Objectives and Policies","page_number":89,"box":{"x":58,"y":121,"width":420,"height":14}},{"id":"4527cb1a-bb37-4a18-ad29-881fe85f9924","block_type":"box","text":"Royal London GMAP Diversified Bond Fund","page_number":89,"box":{"x":522,"y":151,"width":394,"height":11}},{"id":"29c61b91-404e-45c9-a10d-c2a0ab64c947","block_type":"box","text":"The investment objective of the Fund is to achieve a total return","page_number":89,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"ba5016da-c31a-4f91-9df5-4d31c0dbe78f","block_type":"box","text":"over the medium term, which should be considered as a period","page_number":89,"box":{"x":521,"y":184,"width":420,"height":10}},{"id":"0dfc1a76-3d88-4aa0-8fa7-cdd789bf801e","block_type":"box","text":"of 3–5 years, by predominantly investing in a range of different","page_number":89,"box":{"x":521,"y":198,"width":421,"height":10}},{"id":"061de831-95d1-45ba-a257-bdc418fb2297","block_type":"box","text":"fixed income strategies through investment in Collective","page_number":89,"box":{"x":521,"y":212,"width":421,"height":10}},{"id":"a927619d-aca1-41b7-97be-80cdb0649c45","block_type":"box","text":"Investment Schemes. The Fund aims to achieve a low level of","page_number":89,"box":{"x":522,"y":226,"width":421,"height":8}},{"id":"73cbb5dd-5af6-45df-a4d9-1a7146b4553b","block_type":"box","text":"risk and return. The Fund is actively managed, meaning that","page_number":89,"box":{"x":522,"y":241,"width":420,"height":10}},{"id":"abe81a5f-cbd0-4d25-a06d-1f911d602304","block_type":"box","text":"the manager will use their expertise to select investments to","page_number":89,"box":{"x":521,"y":255,"width":421,"height":10}},{"id":"99f872c6-9b22-440a-b203-ce9d8cfd11bf","block_type":"box","text":"meet the objective.","page_number":89,"box":{"x":522,"y":269,"width":126,"height":10}},{"id":"07c89d00-951b-4021-963c-2dda2bd2cb75","block_type":"box","text":"The Fund will seek to achieve this objective predominantly","page_number":89,"box":{"x":521,"y":290,"width":421,"height":10}},{"id":"34cc41bc-961c-4f51-b0bb-c3a9c72b067b","block_type":"box","text":"through investment in fixed income collective investment","page_number":89,"box":{"x":521,"y":304,"width":421,"height":10}},{"id":"155a1d92-308f-44bc-9ceb-2271941764c3","block_type":"box","text":"schemes, which may use either active or passive strategies.","page_number":89,"box":{"x":521,"y":319,"width":420,"height":10}},{"id":"860d8f85-f4d4-475a-9149-2afb15277310","block_type":"box","text":"The Fund may also invest in closed end investment companies.","page_number":89,"box":{"x":521,"y":333,"width":420,"height":10}},{"id":"63de423a-08c5-4a50-bc79-a153c42d3ac4","block_type":"box","text":"The collective investment schemes invested in will","page_number":89,"box":{"x":521,"y":354,"width":420,"height":8}},{"id":"6e6b16bc-bed7-413d-b03f-d398c110e7ee","block_type":"box","text":"predominantly be managed by the Investment Adviser, but may","page_number":89,"box":{"x":522,"y":368,"width":420,"height":10}},{"id":"d1b03b38-1f8a-49c9-a3ba-0d28bc366890","block_type":"box","text":"also include those managed by third-parties. These collective","page_number":89,"box":{"x":521,"y":383,"width":421,"height":9}},{"id":"cfb736c5-6842-43fb-b2fc-e287df476e0f","block_type":"box","text":"investment schemes will invest in fixed income securities,","page_number":89,"box":{"x":522,"y":397,"width":419,"height":9}},{"id":"554fd1ea-a0f7-4552-8ac0-e8054efb2c33","block_type":"box","text":"including investment and sub-investment grade, but may also","page_number":89,"box":{"x":522,"y":411,"width":420,"height":10}},{"id":"f8695481-bae0-40e6-830b-8992bb077cb2","block_type":"box","text":"invest in money-market instruments, deposits and cash. The","page_number":89,"box":{"x":522,"y":425,"width":420,"height":10}},{"id":"10a81753-9794-4637-b2d2-ef4185489446","block_type":"box","text":"Fund may also invest directly in money market instruments,","page_number":89,"box":{"x":522,"y":440,"width":419,"height":9}},{"id":"f82a6247-d316-4444-bcbd-8ba1c781f67e","block_type":"box","text":"deposits and cash.","page_number":89,"box":{"x":521,"y":454,"width":126,"height":10}},{"id":"4282fbc2-2c93-4984-805b-390a40277704","block_type":"box","text":"The Fund may invest in derivatives for investment purposes","page_number":89,"box":{"x":521,"y":475,"width":421,"height":10}},{"id":"755fc3f4-22cc-4f69-b3f0-ae364e9fc8ad","block_type":"box","text":"and also for efficient portfolio management.","page_number":89,"box":{"x":521,"y":489,"width":294,"height":10}},{"id":"042bfa59-36e2-4053-92c4-0a4be53f171a","block_type":"box","text":"Risk and reward profile","page_number":89,"box":{"x":522,"y":516,"width":215,"height":11}},{"id":"637722d0-65ff-4d4f-ba3e-df2e6d58808b","block_type":"box","text":"1","page_number":89,"box":{"x":548,"y":545,"width":5,"height":8}},{"id":"65567ba3-88f8-4283-bbc0-b372d4d9af74","block_type":"box","text":"2","page_number":89,"box":{"x":607,"y":545,"width":8,"height":8}},{"id":"a26a943f-d8a6-4681-bf80-94c3b5519717","block_type":"box","text":"3","page_number":89,"box":{"x":668,"y":545,"width":7,"height":8}},{"id":"3464f6e8-175b-4789-99d0-ff72dc04cf51","block_type":"box","text":"4","page_number":89,"box":{"x":728,"y":545,"width":7,"height":8}},{"id":"404767bc-f85a-4c8d-acf0-67a483f82000","block_type":"box","text":"5","page_number":89,"box":{"x":788,"y":546,"width":7,"height":7}},{"id":"b977290e-1444-4848-af6d-102bb6997715","block_type":"box","text":"6","page_number":89,"box":{"x":848,"y":545,"width":7,"height":8}},{"id":"185c6d32-f515-4db4-84c0-60642ce2403f","block_type":"box","text":"7","page_number":89,"box":{"x":908,"y":546,"width":7,"height":7}},{"id":"15bed7a6-87e8-4fa5-a9a8-4d5ac6b1d061","block_type":"box","text":"Lower risk","page_number":89,"box":{"x":522,"y":560,"width":53,"height":6}},{"id":"afacdb53-db39-4195-b3b7-0cdf2ee7e904","block_type":"box","text":"Typically lower rewards","page_number":89,"box":{"x":523,"y":569,"width":119,"height":8}},{"id":"5f50ecf1-dbd8-408b-8f35-4ba9e71ed445","block_type":"box","text":"Higher risk","page_number":89,"box":{"x":886,"y":560,"width":57,"height":7}},{"id":"3026d55e-7b15-4e5c-a5a4-fff80b38df49","block_type":"box","text":"Typically higher rewards","page_number":89,"box":{"x":817,"y":569,"width":125,"height":8}},{"id":"da9bd494-48be-4a8b-aa72-bf1da7729103","block_type":"box","text":"The scale shows that the higher the risk, the higher the","page_number":89,"box":{"x":521,"y":587,"width":421,"height":10}},{"id":"314447a2-b72f-4450-92aa-f9c8ee84da47","block_type":"box","text":"potential for greater returns. The numerical indicator, which is","page_number":89,"box":{"x":522,"y":601,"width":420,"height":10}},{"id":"20061d97-d799-4715-b9d6-5748554e34c0","block_type":"box","text":"referenced on the scale, is a not a measure of the expected","page_number":89,"box":{"x":522,"y":615,"width":419,"height":10}},{"id":"6ede298e-ab5b-4801-8941-8266c4cc82e3","block_type":"box","text":"rise or fall in capital but shows measure of how much the","page_number":89,"box":{"x":522,"y":630,"width":420,"height":9}},{"id":"0336dbc8-2420-4ba1-a7cb-910dd93286af","block_type":"box","text":"share price of this Fund has risen and fallen (over the last five","page_number":89,"box":{"x":521,"y":644,"width":421,"height":10}},{"id":"aa6bb935-f9a1-454c-ad88-70cc9b646b17","block_type":"box","text":"years) and, therefore, how much the Fund’s returns have varied","page_number":89,"box":{"x":521,"y":658,"width":420,"height":10}},{"id":"a3fef9a4-f5be-4263-aec0-605993e7ee8d","block_type":"box","text":"(its volatility).","page_number":89,"box":{"x":522,"y":672,"width":86,"height":10}},{"id":"a061453d-0d31-47d3-a34e-758964cbb5c3","block_type":"box","text":"The Fund is ranked in risk category 4 because its share","page_number":89,"box":{"x":521,"y":693,"width":421,"height":10}},{"id":"f77e50c0-40e3-4a8a-8caf-67e17b69f130","block_type":"box","text":"price has shown a medium level of volatility historically.","page_number":89,"box":{"x":522,"y":708,"width":419,"height":10}},{"id":"ce25c762-8183-4e73-a8c2-1a1be81726e3","block_type":"box","text":"As an investment, bonds are typically more volatile than money","page_number":89,"box":{"x":521,"y":722,"width":421,"height":10}},{"id":"b321e212-4c36-4306-b52e-a2300bd05a84","block_type":"box","text":"market instruments but less volatile than shares.","page_number":89,"box":{"x":522,"y":736,"width":324,"height":8}},{"id":"4aac06fa-fe10-4a13-b311-f8bb5b287e4a","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":89,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"f45891b4-9eaf-45fd-9ea0-cdf7da0ffd7b","block_type":"box","text":"89","page_number":89,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"77fae6e2-528e-48c6-8726-a9b27e2a5f61","block_type":"box","text":"Royal London GMAP Defensive Fund","page_number":90,"box":{"x":58,"y":151,"width":332,"height":11}},{"id":"670227ab-2d66-461e-b5ba-e36ebbc519cc","block_type":"box","text":"The investment objective of the Fund is to achieve capital","page_number":90,"box":{"x":57,"y":169,"width":420,"height":10}},{"id":"f84b0ba2-86d5-4c32-b53d-5e503f3cbaf4","block_type":"box","text":"growth over the medium term of approximately 3–5 years by","page_number":90,"box":{"x":57,"y":184,"width":421,"height":10}},{"id":"8654aed2-f42b-4cff-88b6-fa8366d8bd4d","block_type":"box","text":"predominantly investing in a range of different asset classes","page_number":90,"box":{"x":58,"y":198,"width":419,"height":10}},{"id":"c049f577-306d-47ce-91cd-71a002e80b18","block_type":"box","text":"including shares and bonds through investment in Collective","page_number":90,"box":{"x":58,"y":212,"width":419,"height":10}},{"id":"70faff19-6df6-4dc3-9bca-152fe9ed72c5","block_type":"box","text":"Investment Schemes (CIS). The Fund aims to achieve a low","page_number":90,"box":{"x":58,"y":226,"width":420,"height":10}},{"id":"15f52063-3ca8-47ef-87b0-d14bf0cc20cd","block_type":"box","text":"level of risk and return. The Fund is actively managed, meaning","page_number":90,"box":{"x":58,"y":241,"width":419,"height":10}},{"id":"73aa4838-51c2-4289-b48e-532cac22df95","block_type":"box","text":"that the manager will use their expertise to select investments","page_number":90,"box":{"x":57,"y":255,"width":421,"height":10}},{"id":"631055a3-6c79-4587-ada1-dffa507280b2","block_type":"box","text":"to meet the objective.","page_number":90,"box":{"x":57,"y":269,"width":143,"height":10}},{"id":"9cbda2da-f9a5-4a48-8cce-e4bcd7963a7f","block_type":"box","text":"The Fund will seek to achieve this objective predominantly","page_number":90,"box":{"x":57,"y":290,"width":421,"height":10}},{"id":"9526afd9-44cf-499f-9981-c8f9c48de8e0","block_type":"box","text":"through investment in collective investment schemes,","page_number":90,"box":{"x":57,"y":305,"width":420,"height":9}},{"id":"f40956c4-a7f4-4034-82b5-317efc52cfb8","block_type":"box","text":"which may use either active or passive strategies. The Fund","page_number":90,"box":{"x":57,"y":319,"width":420,"height":10}},{"id":"fc1b4d45-f6a7-4768-af4e-17648841a560","block_type":"box","text":"may also invest in closed end investment companies. The","page_number":90,"box":{"x":58,"y":333,"width":419,"height":10}},{"id":"bdd84be4-853d-4b34-8723-91301ec730aa","block_type":"box","text":"collective investment schemes invested in will invest in UK","page_number":90,"box":{"x":57,"y":347,"width":421,"height":8}},{"id":"d5e3f769-d1c5-4efd-9671-379906e24d97","block_type":"box","text":"and overseas equities, fixed income securities, including","page_number":90,"box":{"x":57,"y":361,"width":420,"height":10}},{"id":"0eba45c0-2a29-45d0-8c7b-f38ee10245a2","block_type":"box","text":"investment and sub-investment grade, commodities, property,","page_number":90,"box":{"x":58,"y":376,"width":419,"height":10}},{"id":"54197744-d83f-458c-8af4-227014e9392f","block_type":"box","text":"money market instruments, deposits and cash. The collective","page_number":90,"box":{"x":58,"y":390,"width":419,"height":10}},{"id":"caaaf2dd-4595-4618-82dc-2cd691d69573","block_type":"box","text":"investment schemes invested in will primarily be managed","page_number":90,"box":{"x":58,"y":404,"width":419,"height":10}},{"id":"13f85034-8e6a-4abc-b63d-eab6280d083f","block_type":"box","text":"by the Investment Adviser, but potentially those managed by","page_number":90,"box":{"x":58,"y":419,"width":420,"height":9}},{"id":"674da4ff-811d-4d64-8b5b-06c4902675a0","block_type":"box","text":"third-parties. The Fund may also invest directly in transferable","page_number":90,"box":{"x":57,"y":433,"width":420,"height":10}},{"id":"d234c21f-cef9-43a8-8af8-ccac23b6481a","block_type":"box","text":"securities such as equities and fixed income securities as well","page_number":90,"box":{"x":57,"y":447,"width":420,"height":10}},{"id":"adc343d4-2e7f-4aad-9539-7254dee66bac","block_type":"box","text":"as money market instruments, deposits and cash.","page_number":90,"box":{"x":57,"y":461,"width":334,"height":10}},{"id":"26077b93-55f4-4fe5-8da5-1466063846e6","block_type":"box","text":"The Fund may invest in derivatives for investment purposes","page_number":90,"box":{"x":57,"y":482,"width":421,"height":10}},{"id":"d9afd0db-ec76-4e1c-a26e-4717fd550212","block_type":"box","text":"and also for efficient portfolio management.","page_number":90,"box":{"x":57,"y":496,"width":293,"height":10}},{"id":"1d7f2845-fb47-4f58-b394-2dfead02cc93","block_type":"box","text":"Risk and reward profile","page_number":90,"box":{"x":58,"y":523,"width":215,"height":11}},{"id":"2af3be38-afef-4eeb-ace0-e87b3ecd7991","block_type":"box","text":"1","page_number":90,"box":{"x":84,"y":553,"width":5,"height":8}},{"id":"858f8f47-a0a4-4b83-82bf-4508739b969f","block_type":"box","text":"2","page_number":90,"box":{"x":143,"y":553,"width":7,"height":8}},{"id":"1da71bf2-6760-451b-82b8-ac7350d01d76","block_type":"box","text":"3","page_number":90,"box":{"x":204,"y":553,"width":7,"height":8}},{"id":"1c2ea2b2-61f9-41d7-91d9-46bc577fa1d5","block_type":"box","text":"4","page_number":90,"box":{"x":263,"y":553,"width":8,"height":8}},{"id":"393e5820-253c-4276-98f7-71aeaa9481dd","block_type":"box","text":"5","page_number":90,"box":{"x":324,"y":553,"width":7,"height":8}},{"id":"b7039946-0a06-41d5-aec2-62cfb514ff2b","block_type":"box","text":"6","page_number":90,"box":{"x":384,"y":553,"width":7,"height":8}},{"id":"1129cc81-695b-4d05-ab4f-e3140c2e194e","block_type":"box","text":"7","page_number":90,"box":{"x":444,"y":553,"width":7,"height":8}},{"id":"3d76d7dd-f5ca-4ec0-86cf-092e9ff1083a","block_type":"box","text":"Lower risk","page_number":90,"box":{"x":57,"y":567,"width":54,"height":6}},{"id":"66504948-e65f-423f-b795-281b46f34a07","block_type":"box","text":"Typically lower rewards","page_number":90,"box":{"x":58,"y":577,"width":120,"height":7}},{"id":"46e876ed-c844-4449-a6b3-27df7c6b8be2","block_type":"box","text":"Higher risk","page_number":90,"box":{"x":422,"y":567,"width":56,"height":8}},{"id":"523469d7-f141-4fba-8294-3ccab60cf6e7","block_type":"box","text":"Typically higher rewards","page_number":90,"box":{"x":353,"y":577,"width":125,"height":7}},{"id":"6c2a7ce1-cfb7-4029-bf39-6d47bc398560","block_type":"box","text":"The scale shows that the higher the risk, the higher the","page_number":90,"box":{"x":57,"y":594,"width":420,"height":10}},{"id":"a4e6942a-7f18-4033-a2ef-96b68e1c60b5","block_type":"box","text":"potential for greater returns. The numerical indicator, which is","page_number":90,"box":{"x":58,"y":609,"width":419,"height":10}},{"id":"3a7020ba-459a-41cd-a1d0-c1b7862d8b39","block_type":"box","text":"referenced on the scale, is a not a measure of the expected","page_number":90,"box":{"x":58,"y":623,"width":419,"height":10}},{"id":"437f72e0-aba5-4e47-88de-50be45626a94","block_type":"box","text":"rise or fall in capital but shows measure of how much the share","page_number":90,"box":{"x":58,"y":637,"width":419,"height":10}},{"id":"fd9eeb75-e6cd-4f96-a5d8-6f3c2933559e","block_type":"box","text":"price of this Fund has risen and fallen (over the last five years)","page_number":90,"box":{"x":58,"y":651,"width":419,"height":10}},{"id":"895c6bbb-68e8-46ef-8e4f-3c9894f86727","block_type":"box","text":"and, therefore, how much the Fund’s returns have varied (its","page_number":90,"box":{"x":57,"y":666,"width":420,"height":10}},{"id":"25740036-31ac-4e38-b457-018948fad401","block_type":"box","text":"volatility).","page_number":90,"box":{"x":57,"y":680,"width":62,"height":10}},{"id":"61abb8be-9f55-43c5-a7c9-5b8e4ba4afe6","block_type":"box","text":"The Fund is ranked in risk category 3 because its share price","page_number":90,"box":{"x":57,"y":701,"width":420,"height":10}},{"id":"adf3a186-cd1a-4461-8b40-0d0fda061f9c","block_type":"box","text":"has shown a low to medium level of volatility historically.","page_number":90,"box":{"x":58,"y":715,"width":419,"height":10}},{"id":"d2e1eed5-60f3-4968-bfd7-845165b97134","block_type":"box","text":"As an investment, bonds are typically more volatile than money","page_number":90,"box":{"x":57,"y":729,"width":421,"height":10}},{"id":"66111473-ba3c-4931-bae7-1b05a76d7c52","block_type":"box","text":"market instruments but less volatile than shares.","page_number":90,"box":{"x":58,"y":744,"width":324,"height":8}},{"id":"4e85f1da-da3a-47f2-a259-3f5d2ea6a402","block_type":"box","text":"Royal London GMAP Balanced Fund","page_number":90,"box":{"x":522,"y":151,"width":328,"height":11}},{"id":"e3662e84-37cc-4868-83da-b91babaf830f","block_type":"box","text":"The investment objective of the Fund is to achieve capital","page_number":90,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"2dd64cad-82cd-4905-a82f-62133b2d035b","block_type":"box","text":"growth, over the medium term of approximately 3–5 years by","page_number":90,"box":{"x":521,"y":184,"width":421,"height":10}},{"id":"db9fe4dd-d997-45f8-801d-649e7e8f343e","block_type":"box","text":"predominantly investing in a range of different asset classes","page_number":90,"box":{"x":522,"y":198,"width":420,"height":10}},{"id":"fa2ffba7-c096-4766-b0ba-efa8720c5c77","block_type":"box","text":"including shares and bonds through investment in Collective","page_number":90,"box":{"x":522,"y":212,"width":420,"height":10}},{"id":"87745f87-d878-459f-b6ff-f274641f624b","block_type":"box","text":"Investment Schemes (CIS). The Fund aims to achieve a low","page_number":90,"box":{"x":522,"y":226,"width":420,"height":10}},{"id":"6b402fd6-f595-46ae-bf0c-69a9867511c1","block_type":"box","text":"to moderate level of risk and return. The Fund is actively","page_number":90,"box":{"x":521,"y":241,"width":421,"height":10}},{"id":"ef2b074a-49d4-4220-b719-04c47b536d48","block_type":"box","text":"managed, meaning that the manager will use their expertise to","page_number":90,"box":{"x":522,"y":255,"width":420,"height":10}},{"id":"0c57dda7-e942-4213-90da-74eb64f331e8","block_type":"box","text":"select investments to meet the objective.","page_number":90,"box":{"x":521,"y":269,"width":273,"height":10}},{"id":"169c7763-a02e-44b1-893e-cc48dc80ad26","block_type":"box","text":"The Fund will seek to achieve this objective predominantly","page_number":90,"box":{"x":521,"y":290,"width":421,"height":10}},{"id":"47a213a0-84f7-44d7-a970-f81c6bc480ef","block_type":"box","text":"through investment in collective investment schemes, which","page_number":90,"box":{"x":521,"y":305,"width":420,"height":9}},{"id":"b4ba313b-6558-460c-8228-e3a259d7c2f2","block_type":"box","text":"may use either active or passive strategies. The Fund may","page_number":90,"box":{"x":522,"y":319,"width":420,"height":10}},{"id":"e579fc6a-357f-4234-86bb-236f9810118f","block_type":"box","text":"also invest in closed end investment companies. The collective","page_number":90,"box":{"x":521,"y":333,"width":421,"height":10}},{"id":"3ab2fe7d-6060-4589-a3dc-4a6b8b486904","block_type":"box","text":"investment schemes invested in will invest in UK and overseas","page_number":90,"box":{"x":522,"y":347,"width":420,"height":8}},{"id":"9a3f10c5-93bd-42f2-87a8-0b0e87001edd","block_type":"box","text":"equities, fixed income securities, including investment and","page_number":90,"box":{"x":521,"y":361,"width":420,"height":10}},{"id":"186189e0-f3ca-4538-a8fe-b6228add29df","block_type":"box","text":"sub-investment grade, commodities, property, money-market","page_number":90,"box":{"x":521,"y":376,"width":421,"height":10}},{"id":"5cd26d2d-44d7-434c-80c7-b5eb7d6fab85","block_type":"box","text":"instruments, deposits and cash. At any point in time the Fund’s","page_number":90,"box":{"x":522,"y":390,"width":420,"height":10}},{"id":"0bbb7ef0-9b92-424d-86a9-a0235fe6b9c5","block_type":"box","text":"equity exposure will not be less than 15% and will not exceed","page_number":90,"box":{"x":521,"y":404,"width":420,"height":10}},{"id":"2f14083c-1aee-4b82-9490-1d0e1f0fe1e6","block_type":"box","text":"60%. The collective investment schemes invested in will","page_number":90,"box":{"x":522,"y":418,"width":419,"height":8}},{"id":"128d961c-eae2-498c-8c84-f95234378dea","block_type":"box","text":"primarily be managed by the Investment Adviser, but may also","page_number":90,"box":{"x":522,"y":433,"width":420,"height":10}},{"id":"3a654d99-4af5-4340-8440-4d3a5760c4ef","block_type":"box","text":"include those managed by third-parties. The Fund may also","page_number":90,"box":{"x":522,"y":447,"width":420,"height":10}},{"id":"e13181a8-4b38-4d37-b734-3c07368f5eec","block_type":"box","text":"invest directly in transferable securities such as equities and","page_number":90,"box":{"x":522,"y":461,"width":419,"height":10}},{"id":"5a6344c4-363b-4b16-bd2d-f6f03019c0c7","block_type":"box","text":"fixed income securities as well as money market instruments,","page_number":90,"box":{"x":521,"y":475,"width":420,"height":10}},{"id":"ee4fb25b-5b74-430b-a9c5-5c75227deff0","block_type":"box","text":"deposits and cash.","page_number":90,"box":{"x":521,"y":490,"width":126,"height":10}},{"id":"b0726e90-bdeb-4b82-b897-2b6325f84887","block_type":"box","text":"The Fund may invest in derivatives for investment purposes","page_number":90,"box":{"x":521,"y":511,"width":421,"height":10}},{"id":"340ff312-9c65-44e8-b74e-6c1eb8491abc","block_type":"box","text":"and also for efficient portfolio management.","page_number":90,"box":{"x":521,"y":525,"width":294,"height":10}},{"id":"2c3b4332-76c4-4779-a6ae-9ae4ba407f90","block_type":"box","text":"Risk and reward profile","page_number":90,"box":{"x":522,"y":552,"width":215,"height":11}},{"id":"cf3bea62-c87b-4e41-b8c4-e00f39d42aff","block_type":"box","text":"1","page_number":90,"box":{"x":548,"y":581,"width":5,"height":8}},{"id":"5947b202-5bad-44a0-8d0f-d1aee7ea81a5","block_type":"box","text":"2","page_number":90,"box":{"x":607,"y":581,"width":8,"height":8}},{"id":"179deb1c-27a7-4dc4-8af9-0b9d41c8c6c3","block_type":"box","text":"3","page_number":90,"box":{"x":668,"y":581,"width":7,"height":8}},{"id":"44b12be2-a0a7-484e-8eed-f0b1f2e0f023","block_type":"box","text":"4","page_number":90,"box":{"x":728,"y":581,"width":7,"height":8}},{"id":"2225c685-cbe9-479d-b0c5-0f5754ee3846","block_type":"box","text":"5","page_number":90,"box":{"x":788,"y":582,"width":7,"height":7}},{"id":"dbd11f91-7e05-4923-abdd-239d25f95b76","block_type":"box","text":"6","page_number":90,"box":{"x":848,"y":581,"width":7,"height":8}},{"id":"0dfbe56b-3783-452f-907e-adc1ff53bb9f","block_type":"box","text":"7","page_number":90,"box":{"x":908,"y":582,"width":7,"height":7}},{"id":"82f529b3-cd7c-48ff-a432-a5a15ade88cf","block_type":"box","text":"Lower risk","page_number":90,"box":{"x":522,"y":596,"width":53,"height":6}},{"id":"1d95c125-c047-4519-8121-cc7970620d18","block_type":"box","text":"Typically lower rewards","page_number":90,"box":{"x":523,"y":605,"width":119,"height":8}},{"id":"f8ce3e8e-c234-43be-a0fb-6a1c7a12b353","block_type":"box","text":"Higher risk","page_number":90,"box":{"x":886,"y":596,"width":57,"height":7}},{"id":"c2252938-d0d2-43b5-aa18-ef817738ad43","block_type":"box","text":"Typically higher rewards","page_number":90,"box":{"x":817,"y":605,"width":125,"height":8}},{"id":"8dcb145c-222e-4e4f-b0ca-95e1a36970c2","block_type":"box","text":"The scale shows that the higher the risk, the higher the","page_number":90,"box":{"x":521,"y":623,"width":421,"height":10}},{"id":"9418864f-75ff-455d-ab75-4207086a36c8","block_type":"box","text":"potential for greater returns. The numerical indicator, which is","page_number":90,"box":{"x":522,"y":637,"width":420,"height":10}},{"id":"48d2ed8d-db55-486d-baf6-d896f3f0a512","block_type":"box","text":"referenced on the scale, is a not a measure of the expected","page_number":90,"box":{"x":522,"y":651,"width":419,"height":10}},{"id":"346e8b4c-8234-41e0-9d54-45917138a985","block_type":"box","text":"rise or fall in capital but shows measure of how much the share","page_number":90,"box":{"x":522,"y":666,"width":420,"height":10}},{"id":"44f88fcc-679e-4780-be55-7d65aec6491f","block_type":"box","text":"price of this Fund has risen and fallen (over the last five years)","page_number":90,"box":{"x":522,"y":680,"width":420,"height":10}},{"id":"1b0d6876-32b0-4bff-84c7-b960586779e7","block_type":"box","text":"and, therefore, how much the Fund’s returns have varied (its","page_number":90,"box":{"x":521,"y":694,"width":421,"height":10}},{"id":"35a314d5-02b7-492a-8a30-4faf0527589d","block_type":"box","text":"volatility).","page_number":90,"box":{"x":521,"y":708,"width":62,"height":10}},{"id":"aed49cb4-7ad1-46ee-9b13-a63a5eacf57e","block_type":"box","text":"The Fund is ranked in risk category 3 because its share price","page_number":90,"box":{"x":521,"y":729,"width":421,"height":10}},{"id":"7e41cd31-5c30-435f-a01c-0911abef3845","block_type":"box","text":"has shown a low to medium level of volatility historically.","page_number":90,"box":{"x":522,"y":744,"width":419,"height":10}},{"id":"3d904a05-7a57-4ebb-aed8-25a4f4e7f154","block_type":"box","text":"As an investment, bonds are typically more volatile than money","page_number":90,"box":{"x":521,"y":758,"width":421,"height":10}},{"id":"04ce4353-0fb1-415f-b63d-d58654b6c926","block_type":"box","text":"market instruments but less volatile than shares.","page_number":90,"box":{"x":522,"y":772,"width":324,"height":8}},{"id":"95ffe56b-6b39-49c4-b45b-4163e9dfe204","block_type":"box","text":"Fact File","page_number":90,"box":{"x":58,"y":94,"width":109,"height":11}},{"id":"645e84ee-b9f6-444d-927e-9af16616afee","block_type":"box","text":"(continued)","page_number":90,"box":{"x":168,"y":97,"width":75,"height":10}},{"id":"bc5ab866-e7c6-4a0f-bb22-0519e3c63bca","block_type":"box","text":"Investment Objective and Policies","page_number":90,"box":{"x":58,"y":121,"width":415,"height":14}},{"id":"d160d455-234b-406a-954a-b1ea8a6baa4f","block_type":"box","text":"(continued)","page_number":90,"box":{"x":473,"y":124,"width":75,"height":10}},{"id":"1cc7cbf2-c1e9-4412-95d4-beee2a660c3a","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":90,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"eed7eb79-2b50-47bd-9cbf-627febd86b30","block_type":"box","text":"90","page_number":90,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"f2191434-dd11-4040-8a22-288f214e0447","block_type":"box","text":"Royal London GMAP Growth Fund","page_number":91,"box":{"x":58,"y":151,"width":309,"height":11}},{"id":"6f8605a1-bf3e-476d-9a6b-4f9cac4cfc1b","block_type":"box","text":"The investment objective of the Fund is to achieve capital","page_number":91,"box":{"x":57,"y":169,"width":420,"height":10}},{"id":"85225190-2479-431a-8184-95c20d2eed70","block_type":"box","text":"growth, over the medium term of approximately 3–5 years by","page_number":91,"box":{"x":57,"y":184,"width":421,"height":10}},{"id":"f886c243-12eb-4bf9-91f3-4114f525fdd2","block_type":"box","text":"predominantly investing in a range of different asset classes","page_number":91,"box":{"x":58,"y":198,"width":419,"height":10}},{"id":"17e153d6-fe64-4079-a0ad-7d35437d51b1","block_type":"box","text":"including shares and bonds through investment in Collective","page_number":91,"box":{"x":58,"y":212,"width":419,"height":10}},{"id":"38368ee5-07ee-450a-86d6-b935c859b7f0","block_type":"box","text":"Investment Schemes (CIS). The Fund aims to achieve a","page_number":91,"box":{"x":58,"y":226,"width":419,"height":10}},{"id":"3612c365-1eaa-47c8-b7db-60bf686e8432","block_type":"box","text":"moderate to high level of risk and return. The Fund is actively","page_number":91,"box":{"x":58,"y":241,"width":420,"height":10}},{"id":"4bed2870-0058-4f15-be10-79be567f9e66","block_type":"box","text":"managed, meaning that the manager will use their expertise to","page_number":91,"box":{"x":58,"y":255,"width":420,"height":10}},{"id":"fe40e532-994f-4002-affd-56a07f6819c6","block_type":"box","text":"select investments to meet the objective.","page_number":91,"box":{"x":57,"y":269,"width":273,"height":10}},{"id":"64e8df8d-51a0-4940-af88-9c916c4d0e9b","block_type":"box","text":"The Fund will seek to achieve this objective predominantly","page_number":91,"box":{"x":57,"y":290,"width":421,"height":10}},{"id":"3d901caa-1333-4c71-b58b-ed4eef90e08d","block_type":"box","text":"through investment in collective investment schemes, which","page_number":91,"box":{"x":57,"y":305,"width":420,"height":9}},{"id":"679e6039-5bee-4348-888b-30d586c55689","block_type":"box","text":"may use either active or passive strategies. The Fund may","page_number":91,"box":{"x":58,"y":319,"width":420,"height":10}},{"id":"516abbd2-8e58-49d0-abc9-ec57b02650f0","block_type":"box","text":"also invest in closed end investment companies. The collective","page_number":91,"box":{"x":57,"y":333,"width":420,"height":10}},{"id":"91f87fee-8b9f-4aa4-9abc-dfe9be3c40ec","block_type":"box","text":"investment schemes invested in will invest in UK and overseas","page_number":91,"box":{"x":58,"y":347,"width":419,"height":8}},{"id":"581b41fc-de94-4a52-9f9d-d23457366649","block_type":"box","text":"equities, fixed income securities, including investment and","page_number":91,"box":{"x":57,"y":361,"width":420,"height":10}},{"id":"bc813c4d-199f-4f6e-ae80-c3116d8184d6","block_type":"box","text":"sub-investment grade, commodities, property, money-market","page_number":91,"box":{"x":57,"y":376,"width":421,"height":10}},{"id":"a9f064b8-512c-4831-9499-50863f14b9e1","block_type":"box","text":"instruments, deposits and cash. It is the policy of the Fund","page_number":91,"box":{"x":58,"y":390,"width":419,"height":10}},{"id":"0ac8aeaf-3c67-4ab8-a751-60b0b07b4491","block_type":"box","text":"that it will maintain an exposure to shares of between 35%","page_number":91,"box":{"x":57,"y":404,"width":420,"height":10}},{"id":"9588e2e4-d7d0-40eb-9624-d8d0ee92592a","block_type":"box","text":"and 80%. The collective investment schemes invested in will","page_number":91,"box":{"x":57,"y":418,"width":420,"height":8}},{"id":"b8aa3b24-44da-4af5-9a7c-d25959c85941","block_type":"box","text":"primarily be managed by the Investment Adviser, but may also","page_number":91,"box":{"x":58,"y":433,"width":419,"height":10}},{"id":"f8ea1cef-eada-4b1b-8757-9c789e66458a","block_type":"box","text":"include those managed by third-parties. The Fund may also","page_number":91,"box":{"x":58,"y":447,"width":420,"height":10}},{"id":"f7bee057-8de5-48db-afa5-a6f8efc51520","block_type":"box","text":"invest directly in transferable securities such as equities and","page_number":91,"box":{"x":58,"y":461,"width":419,"height":10}},{"id":"9b818ed0-42ca-4bf2-b0c8-9087d4d205b0","block_type":"box","text":"fixed income securities as well as money market instruments,","page_number":91,"box":{"x":57,"y":475,"width":420,"height":10}},{"id":"8ab5b1ef-cc26-48cd-b53d-8397b359879a","block_type":"box","text":"deposits and cash.","page_number":91,"box":{"x":57,"y":490,"width":126,"height":10}},{"id":"88764caa-83cd-4019-818c-0f60b80ad8f1","block_type":"box","text":"The Fund may invest in derivatives for investment purposes","page_number":91,"box":{"x":57,"y":511,"width":421,"height":10}},{"id":"5aa08efe-2db0-4628-b56a-3169d749a654","block_type":"box","text":"and also for efficient portfolio management.","page_number":91,"box":{"x":57,"y":525,"width":293,"height":10}},{"id":"d6515630-9899-4e74-918c-e40d825b88a7","block_type":"box","text":"Risk and reward profile","page_number":91,"box":{"x":58,"y":552,"width":215,"height":11}},{"id":"404d17d2-3b7e-4798-95c6-ff141e2776af","block_type":"box","text":"1","page_number":91,"box":{"x":84,"y":581,"width":5,"height":8}},{"id":"ced669d0-3162-4810-8527-6a4f5c46d010","block_type":"box","text":"2","page_number":91,"box":{"x":143,"y":581,"width":7,"height":8}},{"id":"e082e01b-8fe1-4ac0-83d2-16a8eaa9441a","block_type":"box","text":"3","page_number":91,"box":{"x":204,"y":581,"width":7,"height":8}},{"id":"7a97d889-9c84-420a-a26e-02cf1674bfff","block_type":"box","text":"4","page_number":91,"box":{"x":263,"y":581,"width":8,"height":8}},{"id":"cf1e06b7-9c92-4774-8b2c-7270e8a0ad9e","block_type":"box","text":"5","page_number":91,"box":{"x":324,"y":582,"width":7,"height":7}},{"id":"e8c5beb1-1fdc-4ca8-b224-9be5c4f5237a","block_type":"box","text":"6","page_number":91,"box":{"x":384,"y":581,"width":7,"height":8}},{"id":"a60956ac-2c9f-4b39-8a70-a17b02539728","block_type":"box","text":"7","page_number":91,"box":{"x":444,"y":582,"width":7,"height":7}},{"id":"4463f1d2-8665-4b35-9456-28940c1452ea","block_type":"box","text":"Lower risk","page_number":91,"box":{"x":57,"y":596,"width":54,"height":6}},{"id":"d0d1273b-a5cd-4c80-aa10-972774ef74ab","block_type":"box","text":"Typically lower rewards","page_number":91,"box":{"x":58,"y":605,"width":120,"height":8}},{"id":"9fb6a72a-0c23-4782-98db-b940cffc199d","block_type":"box","text":"Higher risk","page_number":91,"box":{"x":422,"y":596,"width":56,"height":7}},{"id":"74466027-5ee9-4abe-83bd-3bea7dde50b8","block_type":"box","text":"Typically higher rewards","page_number":91,"box":{"x":353,"y":605,"width":125,"height":8}},{"id":"988ca286-cba4-42db-a9de-c407c879f3be","block_type":"box","text":"The scale shows that the higher the risk, the higher the","page_number":91,"box":{"x":57,"y":623,"width":420,"height":10}},{"id":"6b854612-91c7-4f92-ab6a-6cf769e074a2","block_type":"box","text":"potential for greater returns. The numerical indicator, which is","page_number":91,"box":{"x":58,"y":637,"width":419,"height":10}},{"id":"efaf97c6-7a22-4348-acd1-6b27dbba75d3","block_type":"box","text":"referenced on the scale, is a not a measure of the expected","page_number":91,"box":{"x":58,"y":651,"width":419,"height":10}},{"id":"49626f84-fa1a-4b31-b76c-87b11981a10a","block_type":"box","text":"rise or fall in capital but shows measure of how much the share","page_number":91,"box":{"x":58,"y":666,"width":419,"height":10}},{"id":"5e274eeb-0efe-412b-8c3b-3b271c5fb8ee","block_type":"box","text":"price of this Fund has risen and fallen (over the last five years)","page_number":91,"box":{"x":58,"y":680,"width":419,"height":10}},{"id":"02f62314-a9b9-4d3b-8b1b-4befe7bce412","block_type":"box","text":"and, therefore, how much the Fund’s returns have varied (its","page_number":91,"box":{"x":57,"y":694,"width":420,"height":10}},{"id":"78a13617-92d8-422d-a12f-f1601a760550","block_type":"box","text":"volatility).","page_number":91,"box":{"x":57,"y":708,"width":62,"height":10}},{"id":"d005b000-182b-4053-87e5-c97ea2ebe610","block_type":"box","text":"The Fund is ranked in risk category 4 because its share","page_number":91,"box":{"x":57,"y":729,"width":420,"height":10}},{"id":"cc36b32e-f714-4b6a-b8ba-3781e27079ae","block_type":"box","text":"price has shown a medium level of volatility historically.","page_number":91,"box":{"x":58,"y":744,"width":419,"height":10}},{"id":"babfc40e-6dce-40f7-9832-0d4e74cb90b8","block_type":"box","text":"As an investment, bonds are typically more volatile than money","page_number":91,"box":{"x":57,"y":758,"width":421,"height":10}},{"id":"0db4a1d9-dbc0-4a30-aa54-075c15d292b9","block_type":"box","text":"market instruments but less volatile than shares.","page_number":91,"box":{"x":58,"y":772,"width":324,"height":8}},{"id":"567c7f1d-290d-4ba4-94dc-3b7b4a61e741","block_type":"box","text":"Royal London GMAP Adventurous Fund","page_number":91,"box":{"x":522,"y":151,"width":358,"height":11}},{"id":"afed4cec-c0dc-4bdd-a37e-9e0e8c7026a0","block_type":"box","text":"The investment objective of the Fund is to achieve capital","page_number":91,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"15c4d43b-d596-4c73-a70d-15f55c107727","block_type":"box","text":"growth, over the medium term of approximately 3–5 years by","page_number":91,"box":{"x":521,"y":184,"width":421,"height":10}},{"id":"2cfeb2a1-7b72-4907-bc96-f5a46b45f6d4","block_type":"box","text":"predominantly investing in a range of different asset classes","page_number":91,"box":{"x":522,"y":198,"width":420,"height":10}},{"id":"389ae92b-fed0-4e85-8fbb-754a9300482d","block_type":"box","text":"including shares and bonds through investment in Collective","page_number":91,"box":{"x":522,"y":212,"width":420,"height":10}},{"id":"fe44dbd1-3494-489c-a967-521f904a94f3","block_type":"box","text":"Investment Schemes (CIS). The Fund aims to achieve a high","page_number":91,"box":{"x":522,"y":226,"width":419,"height":10}},{"id":"9f47b798-184e-484e-98c2-04a591b24890","block_type":"box","text":"level of risk and return. The Fund is actively managed, meaning","page_number":91,"box":{"x":522,"y":241,"width":419,"height":10}},{"id":"3a62ed4a-286d-4ed9-bdc9-09baf06d2f7e","block_type":"box","text":"that the manager will use their expertise to select investments","page_number":91,"box":{"x":521,"y":255,"width":421,"height":10}},{"id":"8f279492-cb1e-4429-b28d-b473deedc195","block_type":"box","text":"to meet the objective.","page_number":91,"box":{"x":521,"y":269,"width":144,"height":10}},{"id":"61e4627b-7f1f-4353-b877-cd9d34ec8e08","block_type":"box","text":"The Fund will seek to achieve this objective predominantly","page_number":91,"box":{"x":521,"y":290,"width":421,"height":10}},{"id":"fd4fe8e7-0eaa-4692-b724-afdca4f8c243","block_type":"box","text":"through investment in collective investment schemes, which","page_number":91,"box":{"x":521,"y":305,"width":420,"height":9}},{"id":"8bf7398c-249c-4e2d-8013-abd752c7c387","block_type":"box","text":"may use either active or passive strategies. The Fund may","page_number":91,"box":{"x":522,"y":319,"width":420,"height":10}},{"id":"5a15266a-2f48-40d3-9cb5-8cd10545f35a","block_type":"box","text":"also invest in closed end investment companies. These","page_number":91,"box":{"x":521,"y":333,"width":421,"height":10}},{"id":"c88017c0-5ec4-40fe-b685-ac422ad64096","block_type":"box","text":"collective investment schemes will invest in UK and overseas","page_number":91,"box":{"x":522,"y":347,"width":420,"height":8}},{"id":"1343fca3-84cc-4974-9cd2-467402d89cd4","block_type":"box","text":"equities, fixed income securities, including investment and","page_number":91,"box":{"x":521,"y":361,"width":420,"height":10}},{"id":"476de135-89d2-4e01-9e64-db2bc2e6eb41","block_type":"box","text":"sub-investment grade, commodities, property, money market","page_number":91,"box":{"x":521,"y":376,"width":421,"height":10}},{"id":"e4f81fe7-90ca-4225-a8cb-d03d7ebb3f90","block_type":"box","text":"instruments, deposits and cash. It is the policy of the Fund","page_number":91,"box":{"x":522,"y":390,"width":419,"height":10}},{"id":"c163afc0-54c1-42d7-bebe-de2f5820c243","block_type":"box","text":"that it will maintain an exposure to shares of between 50%","page_number":91,"box":{"x":521,"y":404,"width":420,"height":10}},{"id":"02194130-6578-411d-8eb1-9207f93b48ed","block_type":"box","text":"and 90%. The collective investment schemes invested in will","page_number":91,"box":{"x":521,"y":418,"width":420,"height":8}},{"id":"c6666766-e140-4844-a205-a1a6f173e5fa","block_type":"box","text":"primarily be managed by the Investment Adviser, but may also","page_number":91,"box":{"x":522,"y":433,"width":420,"height":10}},{"id":"1df35241-92c8-4e45-9158-536e2a601085","block_type":"box","text":"include those managed by third-parties. The Fund may also","page_number":91,"box":{"x":522,"y":447,"width":420,"height":10}},{"id":"9bd062a7-f5d7-44d3-ab69-4784bb5fb483","block_type":"box","text":"invest directly in transferable securities such as equities and","page_number":91,"box":{"x":522,"y":461,"width":419,"height":10}},{"id":"32a2b028-6698-4132-9498-c69296818347","block_type":"box","text":"fixed income securities as well as money market instruments,","page_number":91,"box":{"x":521,"y":475,"width":420,"height":10}},{"id":"74c2e32e-6a4d-427f-bef5-bbc9e9190366","block_type":"box","text":"deposits and cash.","page_number":91,"box":{"x":521,"y":490,"width":126,"height":10}},{"id":"c408bc37-2374-4ad7-895b-12aaa225f7f7","block_type":"box","text":"The Fund may invest in derivatives for investment purposes","page_number":91,"box":{"x":521,"y":511,"width":421,"height":10}},{"id":"40e48372-e008-47f3-a537-c1d845e5dff9","block_type":"box","text":"and also for efficient portfolio management.","page_number":91,"box":{"x":521,"y":525,"width":294,"height":10}},{"id":"52925f2b-efd3-42e5-aaf3-87f0ef77d7a4","block_type":"box","text":"Risk and reward profile","page_number":91,"box":{"x":522,"y":552,"width":215,"height":11}},{"id":"88c0fc94-ae20-4921-81b5-5d29a2d8d0eb","block_type":"box","text":"1","page_number":91,"box":{"x":548,"y":581,"width":5,"height":8}},{"id":"a1d1ff52-c987-4083-9e10-ac2888cbd981","block_type":"box","text":"2","page_number":91,"box":{"x":607,"y":581,"width":8,"height":8}},{"id":"cb4a1675-0580-4623-84a9-810e8c94d28f","block_type":"box","text":"3","page_number":91,"box":{"x":668,"y":581,"width":7,"height":8}},{"id":"cf3b6f87-23f7-48cc-a653-7e1159a39c70","block_type":"box","text":"4","page_number":91,"box":{"x":728,"y":581,"width":7,"height":8}},{"id":"5529f89d-1ddf-4c0c-9600-128a97965576","block_type":"box","text":"5","page_number":91,"box":{"x":788,"y":582,"width":7,"height":7}},{"id":"00d48413-e98c-4e70-a200-2fad42f6ebe3","block_type":"box","text":"6","page_number":91,"box":{"x":848,"y":581,"width":7,"height":8}},{"id":"432fc8d7-82c0-49ad-a678-a03b65e7e5ec","block_type":"box","text":"7","page_number":91,"box":{"x":908,"y":582,"width":7,"height":7}},{"id":"e212a75d-7070-4bc3-8e97-77bd4af73526","block_type":"box","text":"Lower risk","page_number":91,"box":{"x":522,"y":596,"width":53,"height":6}},{"id":"a2ab41fd-6534-4260-9ede-87f75ca55369","block_type":"box","text":"Typically lower rewards","page_number":91,"box":{"x":523,"y":605,"width":119,"height":8}},{"id":"705fb43f-cd3e-4c8b-9f2c-ccfc12617bbf","block_type":"box","text":"Higher risk","page_number":91,"box":{"x":886,"y":596,"width":57,"height":7}},{"id":"ca02fb3e-0627-47ef-b16c-905d85653198","block_type":"box","text":"Typically higher rewards","page_number":91,"box":{"x":817,"y":605,"width":125,"height":8}},{"id":"674d179c-14fe-423c-a2d3-b2366e3bcc2e","block_type":"box","text":"The scale shows that the higher the risk, the higher the","page_number":91,"box":{"x":521,"y":623,"width":421,"height":10}},{"id":"27883d80-51b0-419b-8f86-5a4742fea13c","block_type":"box","text":"potential for greater returns. The numerical indicator, which is","page_number":91,"box":{"x":522,"y":637,"width":420,"height":10}},{"id":"0180349e-4ab1-4654-a51e-77b640671916","block_type":"box","text":"referenced on the scale, is a not a measure of the expected","page_number":91,"box":{"x":522,"y":651,"width":419,"height":10}},{"id":"a783f210-fa28-42f6-9d9d-bcbb7ff9ba4e","block_type":"box","text":"rise or fall in capital but shows measure of how much the share","page_number":91,"box":{"x":522,"y":666,"width":420,"height":10}},{"id":"eca331f0-848f-49ec-8a9e-59996c8f2a4e","block_type":"box","text":"price of this Fund has risen and fallen (over the last five years)","page_number":91,"box":{"x":522,"y":680,"width":420,"height":10}},{"id":"0991567c-2c4e-4046-8cce-0b4ad361d096","block_type":"box","text":"and, therefore, how much the Fund’s returns have varied (its","page_number":91,"box":{"x":521,"y":694,"width":421,"height":10}},{"id":"1199b46b-a60d-4d12-b63a-94daaf95a81c","block_type":"box","text":"volatility).","page_number":91,"box":{"x":521,"y":708,"width":62,"height":10}},{"id":"444bf2ce-c43e-4373-a460-30dd4cd605e8","block_type":"box","text":"The Fund is ranked in risk category 4 because its share","page_number":91,"box":{"x":521,"y":729,"width":421,"height":10}},{"id":"1c6ecc8b-2438-45fe-a694-ada2f2a5cc02","block_type":"box","text":"price has shown a medium level of volatility historically.","page_number":91,"box":{"x":522,"y":744,"width":419,"height":10}},{"id":"50331e1e-a033-4deb-9764-c8400b5aea9a","block_type":"box","text":"As an investment, bonds are typically more volatile than money","page_number":91,"box":{"x":521,"y":758,"width":421,"height":10}},{"id":"c8556867-261c-4767-9a05-4210fc888f32","block_type":"box","text":"market instruments but less volatile than shares.","page_number":91,"box":{"x":522,"y":772,"width":324,"height":8}},{"id":"ace3ed14-4f8d-47b6-a393-3aacdef12e2c","block_type":"box","text":"Fact File","page_number":91,"box":{"x":58,"y":94,"width":109,"height":11}},{"id":"afce5893-8173-449c-a413-fe860477a412","block_type":"box","text":"(continued)","page_number":91,"box":{"x":168,"y":97,"width":75,"height":10}},{"id":"fe12d3c8-77db-4df6-a6cf-24bb4379e268","block_type":"box","text":"Investment Objective and Policies","page_number":91,"box":{"x":58,"y":121,"width":415,"height":14}},{"id":"116e7961-d55a-493a-be4d-c9ed7662271d","block_type":"box","text":"(continued)","page_number":91,"box":{"x":473,"y":124,"width":75,"height":10}},{"id":"17c2dc6c-e47a-43b8-a687-7caeb82f5124","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":91,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"35d31993-6a9a-4993-851c-994672a122fc","block_type":"box","text":"91","page_number":91,"box":{"x":930,"y":33,"width":10,"height":6}},{"id":"74a2d1fe-fcc0-4f77-8d2f-49f84380a1f2","block_type":"box","text":"Fact File","page_number":92,"box":{"x":58,"y":94,"width":109,"height":11}},{"id":"0a9a9466-f334-4f5a-8e51-bb706688e20c","block_type":"box","text":"(continued)","page_number":92,"box":{"x":168,"y":97,"width":75,"height":10}},{"id":"73d3ceb0-e9eb-458b-9c9d-276b425bb870","block_type":"box","text":"Investment Objective and Policies","page_number":92,"box":{"x":58,"y":121,"width":415,"height":14}},{"id":"faffe1a1-30a1-4b6a-9645-21bedb6df879","block_type":"box","text":"(continued)","page_number":92,"box":{"x":473,"y":124,"width":75,"height":10}},{"id":"83f4c3f9-4e12-440c-ac76-9733de0cb36a","block_type":"box","text":"Royal London GMAP Dynamic Equity Fund","page_number":92,"box":{"x":58,"y":151,"width":386,"height":11}},{"id":"f50f4279-b841-405d-a2ae-4819e7ca42ff","block_type":"box","text":"The investment objective of the Fund is to achieve capital","page_number":92,"box":{"x":57,"y":169,"width":420,"height":10}},{"id":"60a3f371-ec1e-44ee-bd52-79c9338e2e7d","block_type":"box","text":"growth, over the medium term of approximately 3–5 years by","page_number":92,"box":{"x":57,"y":184,"width":421,"height":10}},{"id":"fd05fd0e-3763-4fd2-9f33-718f6993978c","block_type":"box","text":"predominantly investing in UK and overseas shares through","page_number":92,"box":{"x":58,"y":198,"width":419,"height":10}},{"id":"90618545-2225-4001-8107-26b673e0a4b3","block_type":"box","text":"investment in Collective Investment Schemes (CIS). The Fund","page_number":92,"box":{"x":58,"y":212,"width":419,"height":10}},{"id":"06a8da6b-2f18-4c3b-bfdd-d087e9b839ae","block_type":"box","text":"aims to achieve a high level of risk and return. The Fund is","page_number":92,"box":{"x":57,"y":226,"width":421,"height":10}},{"id":"6f971ef1-c7d4-49ad-b13b-f9e64d19f355","block_type":"box","text":"actively managed, meaning that the manager will use their","page_number":92,"box":{"x":57,"y":241,"width":421,"height":10}},{"id":"4b67e5e4-768d-4267-9319-704a95521e6d","block_type":"box","text":"expertise to select investments to meet the objective.","page_number":92,"box":{"x":57,"y":255,"width":357,"height":10}},{"id":"5c651b6d-dd89-48d0-98f8-8a629c80e35a","block_type":"box","text":"The Fund will achieve this predominantly through investment","page_number":92,"box":{"x":57,"y":276,"width":421,"height":10}},{"id":"05d06c12-c933-4f26-a06a-a6eb8326d1c1","block_type":"box","text":"in equity collective investment schemes, which may use either","page_number":92,"box":{"x":58,"y":290,"width":420,"height":10}},{"id":"85e02824-b8ba-469f-ab4e-aab11af7981e","block_type":"box","text":"active or passive strategies. The Fund may also invest in closed","page_number":92,"box":{"x":57,"y":305,"width":420,"height":9}},{"id":"b5f7a51f-a69b-48fa-a5ab-427a2f4e542a","block_type":"box","text":"end investment companies. The collective investment schemes","page_number":92,"box":{"x":57,"y":319,"width":420,"height":10}},{"id":"bf203540-8cac-4049-96b4-fd99f25c87e6","block_type":"box","text":"invested in will invest in UK and overseas equities but may also","page_number":92,"box":{"x":58,"y":333,"width":420,"height":10}},{"id":"eb8630e3-7cd2-4b3f-b7ee-33d9ce0aa6ee","block_type":"box","text":"invest in money-market instruments, deposits and cash. The","page_number":92,"box":{"x":58,"y":347,"width":419,"height":10}},{"id":"8aab5b00-815a-4181-94aa-46516d28dcde","block_type":"box","text":"collective investment schemes invested in will predominantly","page_number":92,"box":{"x":57,"y":362,"width":421,"height":9}},{"id":"4dbf4560-876a-4c99-931a-b13934c80c97","block_type":"box","text":"be managed by the Investment Adviser, but may also include","page_number":92,"box":{"x":58,"y":376,"width":419,"height":10}},{"id":"47968688-d8f1-4272-9099-b5a008d3b3cb","block_type":"box","text":"those managed by third-parties. The Fund may also invest","page_number":92,"box":{"x":57,"y":390,"width":421,"height":10}},{"id":"69e6ab52-8ec8-49ab-b004-c8829f440dfa","block_type":"box","text":"directly in money-market instruments, deposits and cash.","page_number":92,"box":{"x":57,"y":404,"width":384,"height":10}},{"id":"ad34bebe-c621-47b1-914a-057292cc5d96","block_type":"box","text":"The Fund may invest in derivatives for investment purposes","page_number":92,"box":{"x":57,"y":425,"width":421,"height":10}},{"id":"09996c93-0a35-4b61-aaae-a8328b629306","block_type":"box","text":"and also for efficient portfolio management.","page_number":92,"box":{"x":57,"y":439,"width":293,"height":10}},{"id":"c1ff2cf5-7795-41d2-97ba-a29d0aea3267","block_type":"box","text":"Risk and reward profile","page_number":92,"box":{"x":58,"y":466,"width":215,"height":11}},{"id":"68e7dc67-249b-4410-8403-d9ff419ff0b2","block_type":"box","text":"1","page_number":92,"box":{"x":84,"y":496,"width":5,"height":8}},{"id":"a3e8fd7e-2c54-42fe-90e5-b661c029237b","block_type":"box","text":"2","page_number":92,"box":{"x":143,"y":496,"width":7,"height":8}},{"id":"144fb446-1bb0-4a77-abca-3f54bd4d6c11","block_type":"box","text":"3","page_number":92,"box":{"x":204,"y":496,"width":7,"height":8}},{"id":"bc65f565-b256-4d99-9b82-acb41f4c051c","block_type":"box","text":"4","page_number":92,"box":{"x":263,"y":496,"width":8,"height":8}},{"id":"b74a1783-3ade-49cd-862b-3817709d8d37","block_type":"box","text":"5","page_number":92,"box":{"x":324,"y":496,"width":7,"height":8}},{"id":"681e2394-2439-4865-b372-120fd80848ed","block_type":"box","text":"6","page_number":92,"box":{"x":384,"y":496,"width":7,"height":8}},{"id":"442ed28f-8307-4019-b22d-7c2e77f64086","block_type":"box","text":"7","page_number":92,"box":{"x":444,"y":496,"width":7,"height":8}},{"id":"395e25a4-3136-435a-93a4-0c455a3d43d4","block_type":"box","text":"Lower risk","page_number":92,"box":{"x":57,"y":510,"width":54,"height":6}},{"id":"aec116a7-f526-4149-a853-01bc6d28bb52","block_type":"box","text":"Typically lower rewards","page_number":92,"box":{"x":58,"y":520,"width":120,"height":7}},{"id":"e5af95b5-271a-40f2-b159-0a9a316fc508","block_type":"box","text":"Higher risk","page_number":92,"box":{"x":422,"y":510,"width":56,"height":8}},{"id":"afc580bd-fe8f-4f01-8b9e-441cfd161ccc","block_type":"box","text":"Typically higher rewards","page_number":92,"box":{"x":353,"y":520,"width":125,"height":7}},{"id":"35da062f-5239-48a1-91a4-4bd5291352e1","block_type":"box","text":"The scale shows that the higher the risk, the higher the","page_number":92,"box":{"x":57,"y":537,"width":420,"height":10}},{"id":"c3928288-180b-4a99-b6b3-391411a0e154","block_type":"box","text":"potential for greater returns. The numerical indicator, which is","page_number":92,"box":{"x":58,"y":552,"width":419,"height":10}},{"id":"4a283713-3085-4d3d-aea2-3fd4207455fb","block_type":"box","text":"referenced on the scale, is a not a measure of the expected","page_number":92,"box":{"x":58,"y":566,"width":419,"height":10}},{"id":"3be27010-4ecc-4af7-a7d2-0f99e3bcd30b","block_type":"box","text":"rise or fall in capital but shows measure of how much the","page_number":92,"box":{"x":58,"y":580,"width":419,"height":10}},{"id":"4bf67a96-4851-46e4-9c7c-f2977eccdcc9","block_type":"box","text":"share price of this Fund has risen and fallen (over the last five","page_number":92,"box":{"x":57,"y":594,"width":420,"height":10}},{"id":"e06f06c3-c889-40aa-8e4a-8a9b6348045e","block_type":"box","text":"years) and, therefore, how much the Fund’s returns have varied","page_number":92,"box":{"x":57,"y":609,"width":420,"height":10}},{"id":"8a6ff129-05db-4754-9d19-618cbc95d57f","block_type":"box","text":"(its volatility).","page_number":92,"box":{"x":58,"y":623,"width":85,"height":10}},{"id":"60d6346d-1673-4413-8c17-2e0ea66d0a94","block_type":"box","text":"The Fund is ranked in risk category 5 because its share price","page_number":92,"box":{"x":57,"y":644,"width":420,"height":10}},{"id":"5e4fd039-9926-410b-957b-7137095166e1","block_type":"box","text":"has shown a medium to high level of volatility historically.","page_number":92,"box":{"x":58,"y":658,"width":419,"height":10}},{"id":"5c72cdf5-7546-449c-adfe-689e3838c5fe","block_type":"box","text":"As an investment, bonds are typically more volatile than money","page_number":92,"box":{"x":57,"y":672,"width":421,"height":10}},{"id":"565f9231-c972-49d1-bda1-48c23afa6454","block_type":"box","text":"market instruments but less volatile than shares.","page_number":92,"box":{"x":58,"y":687,"width":324,"height":7}},{"id":"84a3d8ad-67bc-4d3c-a1ec-a52b91607b34","block_type":"box","text":"Royal London Multi Asset Strategies Fund","page_number":92,"box":{"x":522,"y":151,"width":387,"height":11}},{"id":"82b2be54-d1dd-483e-be34-d234a5bdfe43","block_type":"box","text":"The investment objective of the Fund is to achieve a","page_number":92,"box":{"x":521,"y":169,"width":421,"height":10}},{"id":"13e82869-021b-4ec3-908a-bcd05e0b3841","block_type":"box","text":"combination of capital growth and income over rolling 5-year","page_number":92,"box":{"x":522,"y":184,"width":421,"height":10}},{"id":"c5fcae5e-7bde-4fe4-9918-7d3dd0030650","block_type":"box","text":"periods, while seeking to target volatility of 4-8% per annum,","page_number":92,"box":{"x":522,"y":198,"width":419,"height":10}},{"id":"8e1998cc-94da-4990-b867-6b4f3b4cb25c","block_type":"box","text":"by employing diversified multi-asset strategies. The Fund is","page_number":92,"box":{"x":522,"y":212,"width":420,"height":10}},{"id":"18474aee-7e9e-4989-9cae-23827dcf7ec9","block_type":"box","text":"actively managed, meaning that the manager will use their","page_number":92,"box":{"x":521,"y":226,"width":422,"height":10}},{"id":"95bdb46f-2763-4663-9306-7ff566fb3f69","block_type":"box","text":"expertise to select investments to meet the objective.","page_number":92,"box":{"x":521,"y":241,"width":361,"height":10}},{"id":"dfbdb4eb-8c0f-4f15-b536-059df10073af","block_type":"box","text":"The Fund will seek to achieve this by investing primarily in","page_number":92,"box":{"x":521,"y":262,"width":420,"height":10}},{"id":"d3c31b72-16bd-42d4-a1ee-d375220cd4a6","block_type":"box","text":"collective investment schemes, which may use either active","page_number":92,"box":{"x":522,"y":276,"width":420,"height":10}},{"id":"a0605f23-6639-4012-afe7-7273990fc3bc","block_type":"box","text":"or passive strategies. The collective investment schemes","page_number":92,"box":{"x":521,"y":290,"width":421,"height":10}},{"id":"f0b2e281-9f9e-42c4-9c38-617e58db0f28","block_type":"box","text":"invested in will invest in UK and overseas equities, fixed","page_number":92,"box":{"x":522,"y":304,"width":419,"height":10}},{"id":"5e268301-6a5e-4a21-a02c-d4a656c03eee","block_type":"box","text":"income securities (including investment and sub-investment","page_number":92,"box":{"x":522,"y":319,"width":420,"height":10}},{"id":"231ffc4d-4418-4ff9-8958-fe12aa0de3f2","block_type":"box","text":"grade), commodities, money-market instruments, deposits","page_number":92,"box":{"x":521,"y":333,"width":421,"height":10}},{"id":"cabaea58-18a7-41e3-98ff-d6f52352cebc","block_type":"box","text":"and cash. The collective investment schemes invested in will","page_number":92,"box":{"x":521,"y":347,"width":420,"height":8}},{"id":"7d5ea3f7-673f-4e15-bb11-69a88c47c706","block_type":"box","text":"primarily be managed by the Investment Adviser, but may also","page_number":92,"box":{"x":522,"y":362,"width":420,"height":9}},{"id":"04b5aa4a-2d4c-46e2-a3e8-0108b1b5790a","block_type":"box","text":"include those managed by third parties. The Fund may also","page_number":92,"box":{"x":522,"y":376,"width":420,"height":10}},{"id":"fa38ebce-cc80-4f8d-a882-04db1ff22123","block_type":"box","text":"invest directly in transferable securities such as equities and","page_number":92,"box":{"x":522,"y":390,"width":419,"height":10}},{"id":"e2f2b27e-255e-4876-a72a-67681018b3df","block_type":"box","text":"fixed income securities as well as money market instruments,","page_number":92,"box":{"x":521,"y":404,"width":420,"height":10}},{"id":"1d98de10-898e-45ea-ad6f-04bcbf6317dc","block_type":"box","text":"deposits and cash.","page_number":92,"box":{"x":521,"y":419,"width":126,"height":9}},{"id":"98785810-fa2f-4e04-8559-a5182a73b7fe","block_type":"box","text":"The Fund may invest in derivatives for investment purposes","page_number":92,"box":{"x":521,"y":439,"width":421,"height":10}},{"id":"d7a8ae97-6d9c-4f24-91c9-867001c84f2d","block_type":"box","text":"and also for efficient portfolio management.","page_number":92,"box":{"x":521,"y":454,"width":294,"height":10}},{"id":"610db76b-24b2-47ee-980b-f0af82d11b91","block_type":"box","text":"Risk and reward profile","page_number":92,"box":{"x":522,"y":481,"width":215,"height":10}},{"id":"f074d866-537d-41ae-9845-bdee856a6c96","block_type":"box","text":"1","page_number":92,"box":{"x":548,"y":510,"width":5,"height":8}},{"id":"3f5d954a-9051-4bba-a83e-8779150af2c6","block_type":"box","text":"2","page_number":92,"box":{"x":607,"y":510,"width":8,"height":8}},{"id":"30b47900-5c40-47b8-9f84-82f28cc4fee7","block_type":"box","text":"3","page_number":92,"box":{"x":668,"y":510,"width":7,"height":8}},{"id":"9ba82b85-bf65-449b-a283-910fe1b2c5c8","block_type":"box","text":"4","page_number":92,"box":{"x":728,"y":510,"width":7,"height":8}},{"id":"87034fa9-4c60-4a4e-9aa4-0308c55424f3","block_type":"box","text":"5","page_number":92,"box":{"x":788,"y":510,"width":7,"height":8}},{"id":"9332812a-c0de-419c-8829-898d67475b5c","block_type":"box","text":"6","page_number":92,"box":{"x":848,"y":510,"width":7,"height":8}},{"id":"009028b1-1432-4123-9050-1f46123536bb","block_type":"box","text":"7","page_number":92,"box":{"x":908,"y":510,"width":7,"height":8}},{"id":"203849e4-9fc3-4f98-8680-339248aefdef","block_type":"box","text":"Lower risk","page_number":92,"box":{"x":522,"y":524,"width":53,"height":6}},{"id":"39c8c25b-6b0a-42fd-a374-b2c2960dbbef","block_type":"box","text":"Typically lower rewards","page_number":92,"box":{"x":523,"y":534,"width":119,"height":7}},{"id":"cca727ad-0e58-4800-a676-fee23e1724e4","block_type":"box","text":"Higher risk","page_number":92,"box":{"x":886,"y":524,"width":57,"height":8}},{"id":"4fe4381c-d33b-44f2-be58-a06f140b5912","block_type":"box","text":"Typically higher rewards","page_number":92,"box":{"x":817,"y":534,"width":125,"height":7}},{"id":"45252934-6233-46c9-8ba2-76f2eadcb170","block_type":"box","text":"The scale shows that the higher the risk, the higher the","page_number":92,"box":{"x":521,"y":552,"width":421,"height":10}},{"id":"1e41eb6f-bf76-4aa5-8e8b-89a814219945","block_type":"box","text":"potential for greater returns. The numerical indicator, which is","page_number":92,"box":{"x":522,"y":566,"width":420,"height":10}},{"id":"4cdafc41-edab-4ec2-b05f-0d6332470e25","block_type":"box","text":"referenced on the scale, is a not a measure of the expected","page_number":92,"box":{"x":522,"y":580,"width":419,"height":10}},{"id":"4599718b-2389-4283-b3dd-c22f7df366b9","block_type":"box","text":"rise or fall in capital but shows measure of how much the","page_number":92,"box":{"x":522,"y":594,"width":420,"height":10}},{"id":"30bfd06e-8c08-4273-aa10-1b139b92081a","block_type":"box","text":"share price of this Fund has risen and fallen (over the last five","page_number":92,"box":{"x":521,"y":609,"width":421,"height":10}},{"id":"746ff2d4-0668-47a7-9b3a-99a48066ebf8","block_type":"box","text":"years) and, therefore, how much the Fund’s returns have varied","page_number":92,"box":{"x":521,"y":623,"width":420,"height":10}},{"id":"04b713b3-ce55-4ce4-96f9-2f3905f51f2f","block_type":"box","text":"(its volatility).","page_number":92,"box":{"x":522,"y":637,"width":86,"height":10}},{"id":"58e39709-d1c5-4250-8c92-cc3a0dfceb97","block_type":"box","text":"The Fund is ranked in risk category 4 because its share","page_number":92,"box":{"x":521,"y":658,"width":421,"height":10}},{"id":"d7fe8f52-8fc0-43a0-a55d-6f5c004389d7","block_type":"box","text":"price has shown a medium level of volatility historically.","page_number":92,"box":{"x":522,"y":672,"width":419,"height":10}},{"id":"2f8c05f9-7ef8-4090-8e08-e8af8f7738e4","block_type":"box","text":"As an investment, bonds are typically more volatile than money","page_number":92,"box":{"x":521,"y":687,"width":421,"height":10}},{"id":"4add0712-fa7b-4b82-9cbe-2980bca5193d","block_type":"box","text":"market instruments but less volatile than shares.","page_number":92,"box":{"x":522,"y":701,"width":324,"height":8}},{"id":"dcb77128-b63c-4c0e-9018-42ce07528b55","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":92,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"566f0dc0-7bae-441d-bbef-a001de3fa705","block_type":"box","text":"92","page_number":92,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"bc022b8a-db52-4085-8b70-4d0f91af23e2","block_type":"box","text":"Royal London GMAP Moderate Growth Fund","page_number":93,"box":{"x":58,"y":151,"width":402,"height":11}},{"id":"15525749-3a57-407b-979d-4cbdc84b1c3a","block_type":"box","text":"The investment objective of the Fund is to achieve capital","page_number":93,"box":{"x":57,"y":169,"width":420,"height":10}},{"id":"927f5542-eef7-4dc1-9a22-89c65666363a","block_type":"box","text":"growth over the medium term, which should be considered as","page_number":93,"box":{"x":57,"y":184,"width":420,"height":10}},{"id":"369f473d-d2bf-48d1-a1b2-28c02dc76cc9","block_type":"box","text":"a period of 3-5 years by predominantly investing in in a range","page_number":93,"box":{"x":57,"y":198,"width":420,"height":10}},{"id":"4bc801d3-1668-4dac-90c1-7a1f2d4c36a7","block_type":"box","text":"of different asset classes including shares and bonds through","page_number":93,"box":{"x":57,"y":212,"width":420,"height":10}},{"id":"143d6531-51f7-4fd7-bb3c-183bd95a5199","block_type":"box","text":"investment in Collective Investment Schemes (CIS). The Fund","page_number":93,"box":{"x":58,"y":226,"width":419,"height":10}},{"id":"69cd1820-ddd8-4e71-ba0d-fa21e4c215f6","block_type":"box","text":"aims to achieve a moderate level of risk and return relative","page_number":93,"box":{"x":57,"y":241,"width":420,"height":8}},{"id":"05bb2c51-b07d-4d03-bc77-6347d888d3c9","block_type":"box","text":"to the other funds in the Royal London Global Multi-Asset","page_number":93,"box":{"x":57,"y":255,"width":421,"height":10}},{"id":"3e697602-174d-4ff7-9099-5f3a71888138","block_type":"box","text":"Portfolio (GMAP) range.","page_number":93,"box":{"x":58,"y":269,"width":161,"height":10}},{"id":"a7cd4374-5f87-493f-a5dc-1998c9238639","block_type":"box","text":"The Fund will seek to achieve this objective by predominantly","page_number":93,"box":{"x":57,"y":290,"width":421,"height":10}},{"id":"e6f46ffe-67fc-4d71-9744-059d5c324dab","block_type":"box","text":"investing in a range of different asset classes including (but not","page_number":93,"box":{"x":58,"y":304,"width":420,"height":10}},{"id":"8f8bd9a6-f47d-4723-bd20-5b97cc6c2dbf","block_type":"box","text":"limited to) shares and bonds through investment in Collective","page_number":93,"box":{"x":58,"y":319,"width":419,"height":10}},{"id":"90e0747c-6ece-4539-8d49-a9d5984a05d2","block_type":"box","text":"Investment Schemes. At least 80% of the Fund will be invested in","page_number":93,"box":{"x":58,"y":333,"width":419,"height":8}},{"id":"9fa24377-2b58-4fe5-aed4-a82ace5d6eb3","block_type":"box","text":"CIS, which can invest in shares of UK and overseas companies","page_number":93,"box":{"x":57,"y":347,"width":420,"height":10}},{"id":"89518fdd-7d1a-428b-889d-a099115283b2","block_type":"box","text":"(UK companies are those domiciled in the UK, or which have","page_number":93,"box":{"x":58,"y":361,"width":419,"height":10}},{"id":"cb5f5455-03d8-454f-89d4-3513d1ad1dfc","block_type":"box","text":"significant UK business operations), and investment grade and","page_number":93,"box":{"x":57,"y":376,"width":420,"height":10}},{"id":"f088fea8-646f-4998-a6fb-a456b86a3fe9","block_type":"box","text":"sub-investment grade bonds. A limited amount of the Fund’s","page_number":93,"box":{"x":57,"y":390,"width":420,"height":10}},{"id":"08b7534a-e017-4b60-b285-55ca48b78726","block_type":"box","text":"assets may be held in other transferable securities. Money","page_number":93,"box":{"x":57,"y":404,"width":421,"height":10}},{"id":"be318a2f-1b0e-4770-bee1-44dff3c0dbf1","block_type":"box","text":"market instruments (such as cash and deposits) may be held","page_number":93,"box":{"x":58,"y":418,"width":419,"height":10}},{"id":"15085b26-1242-4cc5-9531-26a3e7037f04","block_type":"box","text":"for strategic asset allocation purposes, in addition to EPM, and","page_number":93,"box":{"x":57,"y":433,"width":420,"height":10}},{"id":"9358e53a-974b-4370-bcf6-cb8c348a275e","block_type":"box","text":"to manage the flow of client money in and out of the Fund.","page_number":93,"box":{"x":57,"y":447,"width":390,"height":10}},{"id":"9888d070-dbe0-494c-a487-1c03fb3a39a6","block_type":"box","text":"The Fund may invest in derivatives for investment purposes","page_number":93,"box":{"x":57,"y":468,"width":421,"height":10}},{"id":"d4e3607a-f142-42b6-babb-95903db32b86","block_type":"box","text":"and also for efficient portfolio management.","page_number":93,"box":{"x":57,"y":482,"width":293,"height":10}},{"id":"9df976db-9b50-4b79-a7e9-2b85595dd72f","block_type":"box","text":"Risk and reward profile","page_number":93,"box":{"x":58,"y":509,"width":215,"height":11}},{"id":"c162a375-2ff6-47de-8238-e25374c31e2b","block_type":"box","text":"1","page_number":93,"box":{"x":84,"y":539,"width":5,"height":7}},{"id":"4f4f7624-c046-46ad-9892-5bf9f06e3cc6","block_type":"box","text":"2","page_number":93,"box":{"x":143,"y":539,"width":7,"height":7}},{"id":"2988f9a1-9f8a-4200-9bf6-44a1736dc186","block_type":"box","text":"3","page_number":93,"box":{"x":204,"y":539,"width":7,"height":8}},{"id":"f91e4d0f-0547-4212-b581-4fc88a3a0d58","block_type":"box","text":"4","page_number":93,"box":{"x":263,"y":539,"width":8,"height":7}},{"id":"2865aac0-32a4-486c-961b-068378eeac02","block_type":"box","text":"5","page_number":93,"box":{"x":324,"y":539,"width":7,"height":8}},{"id":"01015a7f-4bd1-445f-9264-91acfd2e06ff","block_type":"box","text":"6","page_number":93,"box":{"x":384,"y":539,"width":7,"height":8}},{"id":"e469eee3-04a4-4533-8ad3-db7d07f3ae93","block_type":"box","text":"7","page_number":93,"box":{"x":444,"y":539,"width":7,"height":7}},{"id":"8cb86975-e282-4408-8995-15a03e49e6a2","block_type":"box","text":"Lower risk","page_number":93,"box":{"x":57,"y":553,"width":54,"height":6}},{"id":"1029792e-2834-4de9-94cb-dd4fbafc7f4a","block_type":"box","text":"Typically lower rewards","page_number":93,"box":{"x":58,"y":562,"width":120,"height":8}},{"id":"c0e6cf1a-76fc-4d83-b810-6ab110abeb8a","block_type":"box","text":"Higher risk","page_number":93,"box":{"x":422,"y":553,"width":56,"height":7}},{"id":"507df36a-babf-40ee-8d86-f94ac9c32a3f","block_type":"box","text":"Typically higher rewards","page_number":93,"box":{"x":353,"y":562,"width":125,"height":8}},{"id":"31937c88-4bba-47e7-9216-c68c206cd5b6","block_type":"box","text":"The scale shows that the higher the risk, the higher the","page_number":93,"box":{"x":57,"y":580,"width":420,"height":10}},{"id":"362538aa-5936-4402-8379-f78a8dafb74f","block_type":"box","text":"potential for greater returns. The numerical indicator, which is","page_number":93,"box":{"x":58,"y":594,"width":419,"height":10}},{"id":"292b3573-f5f2-46b5-8a8f-3ec8ab3dd853","block_type":"box","text":"referenced on the scale, is a not a measure of the expected","page_number":93,"box":{"x":58,"y":609,"width":419,"height":9}},{"id":"361b9672-4723-4349-824f-00d0589241ff","block_type":"box","text":"rise or fall in capital but shows measure of how much the","page_number":93,"box":{"x":58,"y":623,"width":419,"height":10}},{"id":"54cd4b14-db93-4b10-8164-19920ef9d195","block_type":"box","text":"share price of this Fund has risen and fallen (over the last five","page_number":93,"box":{"x":57,"y":637,"width":420,"height":10}},{"id":"8e87b09d-f9b0-4253-9ebb-ecdbccadf8bf","block_type":"box","text":"years) and, therefore, how much the Fund’s returns have varied","page_number":93,"box":{"x":57,"y":651,"width":420,"height":10}},{"id":"71bfe675-652c-407e-af44-ab3243dfc89a","block_type":"box","text":"(its volatility).","page_number":93,"box":{"x":58,"y":666,"width":85,"height":10}},{"id":"9b901500-1e68-457e-b221-c679ec0d6bc9","block_type":"box","text":"The Fund is ranked in risk category 4 because its share","page_number":93,"box":{"x":57,"y":687,"width":420,"height":10}},{"id":"4a4a60aa-fe51-43aa-8424-6f87c5e684b1","block_type":"box","text":"price has shown a medium level of volatility historically.","page_number":93,"box":{"x":58,"y":701,"width":419,"height":10}},{"id":"0748cbe2-2dc3-43ea-b381-2c74df9f10b7","block_type":"box","text":"As an investment, bonds are typically more volatile than money","page_number":93,"box":{"x":57,"y":715,"width":421,"height":10}},{"id":"e4d85e90-391f-4b2d-a508-23e7e439458f","block_type":"box","text":"market instruments but less volatile than shares.","page_number":93,"box":{"x":58,"y":729,"width":324,"height":8}},{"id":"f8751010-eab7-467c-9cc2-e02ea63b3485","block_type":"box","text":"Royal London GMAP Extra Adventurous Fund","page_number":93,"box":{"x":522,"y":151,"width":414,"height":11}},{"id":"1c2436df-0e32-4bfa-9a07-3522df39862d","block_type":"box","text":"The investment objective of the Fund is to achieve capital","page_number":93,"box":{"x":521,"y":169,"width":420,"height":10}},{"id":"84efcd54-8cdc-47a7-bb8a-c7a18976c63a","block_type":"box","text":"growth rolling 5 year periods by predominantly investing in in","page_number":93,"box":{"x":521,"y":184,"width":420,"height":10}},{"id":"1a941706-f16d-4d0d-be1a-f37890013790","block_type":"box","text":"a range of different asset classes including shares and bonds","page_number":93,"box":{"x":521,"y":198,"width":421,"height":10}},{"id":"3ddf369f-6196-48f4-b2b6-64a72fabbe5b","block_type":"box","text":"through investment in Collective Investment Schemes (CIS).","page_number":93,"box":{"x":521,"y":212,"width":420,"height":10}},{"id":"4645ef8d-0b28-455f-b059-ad1fd56d1b5f","block_type":"box","text":"The Fund aims to achieve a high level of risk and return relative","page_number":93,"box":{"x":521,"y":226,"width":421,"height":10}},{"id":"547ca011-f726-4048-aeb5-f2ec8533f512","block_type":"box","text":"to the other funds in the Royal London Global Multi-Asset","page_number":93,"box":{"x":521,"y":241,"width":421,"height":10}},{"id":"fc598990-1125-45b9-a64b-7d78f224d70b","block_type":"box","text":"Portfolio (GMAP) range.","page_number":93,"box":{"x":522,"y":255,"width":161,"height":10}},{"id":"1d077c00-817e-41b4-9130-ad2dce4fcdad","block_type":"box","text":"The Fund is actively managed and will seek to achieve this","page_number":93,"box":{"x":521,"y":276,"width":421,"height":10}},{"id":"43e6755e-7a44-4a8f-93dc-8513c1bd1ea3","block_type":"box","text":"objective by predominantly investing at least 80% indirectly in","page_number":93,"box":{"x":521,"y":290,"width":420,"height":10}},{"id":"584ebd04-796e-4dcd-a5a5-cb812b440c03","block_type":"box","text":"other funds known as collective investment schemes (“CIS”) in","page_number":93,"box":{"x":521,"y":304,"width":420,"height":10}},{"id":"10e0192b-767d-4273-b8c8-e69721fb8659","block_type":"box","text":"the shares of UK and overseas companies, investment grade","page_number":93,"box":{"x":521,"y":319,"width":421,"height":10}},{"id":"436de2f0-6b61-4899-ba68-4c1027ec237d","block_type":"box","text":"and sub-investment grade bonds, commodities (including oil and","page_number":93,"box":{"x":521,"y":333,"width":420,"height":10}},{"id":"30877da7-4280-41b0-af87-f34df27c9fa5","block_type":"box","text":"gold), property and money-market instruments. The remainder","page_number":93,"box":{"x":521,"y":347,"width":422,"height":10}},{"id":"254ea270-2c53-49af-800c-f27252aefa9a","block_type":"box","text":"of the Fund (up to 20%) may be invested directly in shares,","page_number":93,"box":{"x":521,"y":361,"width":420,"height":10}},{"id":"5224251f-0918-4677-a792-847471406d36","block_type":"box","text":"bonds, closed-ended funds and other transferable securities.","page_number":93,"box":{"x":522,"y":376,"width":410,"height":9}},{"id":"613412e8-6620-4332-a609-14cfbb60a170","block_type":"box","text":"The Fund may invest in derivatives for investment purposes","page_number":93,"box":{"x":521,"y":397,"width":421,"height":10}},{"id":"6fd3e125-f780-4e8a-8607-97adfd5fec13","block_type":"box","text":"and also for efficient portfolio management.","page_number":93,"box":{"x":521,"y":411,"width":294,"height":10}},{"id":"fe33af4f-b6d0-4d30-9b25-869277d205af","block_type":"box","text":"Risk and reward profile","page_number":93,"box":{"x":522,"y":438,"width":215,"height":11}},{"id":"63c42398-6b8b-4ee7-a438-e9de3a952349","block_type":"box","text":"1","page_number":93,"box":{"x":548,"y":467,"width":5,"height":8}},{"id":"c637ed37-0315-4538-9276-5775e981b512","block_type":"box","text":"2","page_number":93,"box":{"x":607,"y":467,"width":8,"height":8}},{"id":"349f6551-7892-4092-9cb8-39b02d1c6d9e","block_type":"box","text":"3","page_number":93,"box":{"x":668,"y":467,"width":7,"height":8}},{"id":"90acfcb5-befe-4d6d-ab4d-605729be8707","block_type":"box","text":"4","page_number":93,"box":{"x":728,"y":467,"width":7,"height":8}},{"id":"8c90689f-97eb-4ba8-91db-ffaaeb5531b7","block_type":"box","text":"5","page_number":93,"box":{"x":788,"y":468,"width":7,"height":7}},{"id":"1cefe575-3bd6-4e5d-bf3f-b09777456c13","block_type":"box","text":"6","page_number":93,"box":{"x":848,"y":467,"width":7,"height":8}},{"id":"79884784-022b-477e-bcf6-0076fc2f9e38","block_type":"box","text":"7","page_number":93,"box":{"x":908,"y":468,"width":7,"height":7}},{"id":"ad115fe7-1c6b-42ba-9eb5-83adc7ebf231","block_type":"box","text":"Lower risk","page_number":93,"box":{"x":522,"y":482,"width":53,"height":6}},{"id":"e7823752-fb4a-4fc3-9483-4cc7e153c50c","block_type":"box","text":"Typically lower rewards","page_number":93,"box":{"x":523,"y":491,"width":119,"height":8}},{"id":"768125ad-5467-416a-99e8-cbee37918552","block_type":"box","text":"Higher risk","page_number":93,"box":{"x":886,"y":482,"width":57,"height":7}},{"id":"1f235e0f-37c4-487f-ac87-a5c09787fcd6","block_type":"box","text":"Typically higher rewards","page_number":93,"box":{"x":817,"y":491,"width":125,"height":8}},{"id":"43f2f5ea-661a-4364-b45c-0a38a080cfbd","block_type":"box","text":"The scale shows that the higher the risk, the higher the","page_number":93,"box":{"x":521,"y":509,"width":421,"height":10}},{"id":"08af21af-78ef-47dc-86de-5e9bd2d9408f","block_type":"box","text":"potential for greater returns. The numerical indicator, which is","page_number":93,"box":{"x":522,"y":523,"width":420,"height":10}},{"id":"2e678089-9bca-4be9-b735-b33639b77d95","block_type":"box","text":"referenced on the scale, is a not a measure of the expected","page_number":93,"box":{"x":522,"y":537,"width":419,"height":10}},{"id":"748fca70-dfc9-40fa-a36c-400dbb9a1d85","block_type":"box","text":"rise or fall in capital but shows measure of how much the","page_number":93,"box":{"x":522,"y":552,"width":420,"height":9}},{"id":"215416df-1dae-4dc5-b15f-6a3fb84ba297","block_type":"box","text":"share price of this Fund has risen and fallen (over the last five","page_number":93,"box":{"x":521,"y":566,"width":421,"height":10}},{"id":"9599e339-bbbb-49fe-8f4d-a4873de893aa","block_type":"box","text":"years) and, therefore, how much the Fund’s returns have varied","page_number":93,"box":{"x":521,"y":580,"width":420,"height":10}},{"id":"7c2a0924-d6a3-4e04-8205-c6ac3855ed3c","block_type":"box","text":"(its volatility).","page_number":93,"box":{"x":522,"y":594,"width":86,"height":10}},{"id":"193edfe4-0012-4aa2-879a-737d51cf9a57","block_type":"box","text":"The Fund is ranked in risk category 4 because its share","page_number":93,"box":{"x":521,"y":615,"width":421,"height":10}},{"id":"19195482-fdc8-4038-a5a9-8016d0ba25c7","block_type":"box","text":"price has shown a medium level of volatility historically.","page_number":93,"box":{"x":522,"y":630,"width":419,"height":10}},{"id":"483ee142-9df8-4f85-8f82-da0e0fa5d45d","block_type":"box","text":"As an investment, bonds are typically more volatile than money","page_number":93,"box":{"x":521,"y":644,"width":421,"height":10}},{"id":"018b0b29-c74d-4d45-a942-2053a0ca409e","block_type":"box","text":"market instruments but less volatile than shares.","page_number":93,"box":{"x":522,"y":658,"width":324,"height":8}},{"id":"67b21b22-7bc4-4c3e-9b21-6fdfe96c8655","block_type":"box","text":"Fact File","page_number":93,"box":{"x":58,"y":94,"width":109,"height":11}},{"id":"840fdda2-1efa-4f4c-b563-c1c369fbfc05","block_type":"box","text":"(continued)","page_number":93,"box":{"x":168,"y":97,"width":75,"height":10}},{"id":"08b3b93e-1cd1-4d11-92da-b08887c6b027","block_type":"box","text":"Investment Objective and Policies","page_number":93,"box":{"x":58,"y":121,"width":415,"height":14}},{"id":"6e90e757-d1b1-4911-b03f-3691e3c5f681","block_type":"box","text":"(continued)","page_number":93,"box":{"x":473,"y":124,"width":75,"height":10}},{"id":"4b7decd4-0dd6-4718-a178-cc8fb814f898","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":93,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"2e7829a6-79bf-4d75-83fa-aed4fd158b78","block_type":"box","text":"93","page_number":93,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"85c631e2-2111-4acc-adfc-c056c2b81bc1","block_type":"box","text":"Pricing and dealing","page_number":94,"box":{"x":58,"y":151,"width":177,"height":11}},{"id":"ff67a625-a59f-4ee0-b7a9-2fedaa2cdfff","block_type":"box","text":"The prices of shares are determined by reference to the","page_number":94,"box":{"x":57,"y":169,"width":420,"height":10}},{"id":"79f23e1b-efd4-4a31-b912-620ef4bf285e","block_type":"box","text":"underlying market value of the net assets of each sub-fund at","page_number":94,"box":{"x":58,"y":184,"width":420,"height":10}},{"id":"7d7b6022-aa8e-4a96-891a-cb211272b78c","block_type":"box","text":"the relevant valuation point.","page_number":94,"box":{"x":57,"y":198,"width":185,"height":10}},{"id":"e092f9e5-26eb-4ec2-8d21-5d9a4b5311c7","block_type":"box","text":"Share prices are normally calculated daily however, if the","page_number":94,"box":{"x":57,"y":219,"width":420,"height":10}},{"id":"8088f0c7-ea28-482d-980d-07d25111376d","block_type":"box","text":"markets are exceptionally volatile the ACD may conduct more","page_number":94,"box":{"x":58,"y":233,"width":419,"height":10}},{"id":"bcb65ab0-2bb8-4da7-893f-b00d82187d6b","block_type":"box","text":"frequent valuations to reflect any significant changes in the","page_number":94,"box":{"x":57,"y":247,"width":420,"height":10}},{"id":"ddbaed80-09b0-48f5-9946-3f7aa523e711","block_type":"box","text":"value of a sub-fund’s underlying assets.","page_number":94,"box":{"x":57,"y":262,"width":267,"height":10}},{"id":"3efb634b-cab8-4e9e-b83a-e6b420b5ddf9","block_type":"box","text":"Dealing prices, yields and details of risks and charges are","page_number":94,"box":{"x":58,"y":283,"width":419,"height":10}},{"id":"2cb8b562-00b6-437d-aa73-9048f2cb7a56","block_type":"box","text":"published on our website, www.rlam.com.","page_number":94,"box":{"x":58,"y":297,"width":279,"height":10}},{"id":"5d83f5c0-a585-48cf-b6fb-2fc6df1deae5","block_type":"box","text":"Dealing in shares is conducted between 9.00am and 5.00pm","page_number":94,"box":{"x":58,"y":318,"width":419,"height":10}},{"id":"b5867eac-a043-41ef-8bec-1f11308649dd","block_type":"box","text":"on a forward pricing basis.","page_number":94,"box":{"x":57,"y":332,"width":177,"height":10}},{"id":"1c47bd7a-62a4-40e6-b536-530440101fdd","block_type":"box","text":"Buying shares","page_number":94,"box":{"x":58,"y":359,"width":130,"height":11}},{"id":"287dc838-66a8-4e77-b6c1-3e18b08c00e8","block_type":"box","text":"Shares may be bought on any business day via an authorised","page_number":94,"box":{"x":57,"y":377,"width":420,"height":10}},{"id":"920a8d93-db83-4cd4-8b11-2ac3f922e55d","block_type":"box","text":"intermediary or from the ACD by telephoning the Dealing desk","page_number":94,"box":{"x":58,"y":392,"width":420,"height":10}},{"id":"c2d987db-01e6-49b5-a386-729d75dd1481","block_type":"box","text":"on 08456 04 04 04*. Alternatively, an application form should","page_number":94,"box":{"x":57,"y":406,"width":420,"height":10}},{"id":"e7193cbf-b954-4212-b757-8ca6139937ce","block_type":"box","text":"be completed and sent to the ACD. Shares will be allocated at","page_number":94,"box":{"x":58,"y":420,"width":420,"height":10}},{"id":"e4cc7b87-434c-4c87-b1fb-35dffd4a857c","block_type":"box","text":"the price ruling at the next valuation point and a contract note","page_number":94,"box":{"x":57,"y":435,"width":420,"height":9}},{"id":"91e09ad6-6763-4ee2-a833-5b07b47ee4a4","block_type":"box","text":"confirming the purchase will be issued immediately thereafter.","page_number":94,"box":{"x":57,"y":449,"width":417,"height":10}},{"id":"91bb1139-6e03-47d2-a655-66c487cdd49f","block_type":"box","text":"Selling shares","page_number":94,"box":{"x":57,"y":476,"width":131,"height":11}},{"id":"60455504-cc4f-4458-9644-db3376728011","block_type":"box","text":"Shares may be sold back to the ACD on any business day.","page_number":94,"box":{"x":57,"y":494,"width":420,"height":10}},{"id":"e78e5ebd-885f-4d1e-896a-e37c1f2d114f","block_type":"box","text":"Shares can be sold by telephone by calling the Dealing desk","page_number":94,"box":{"x":57,"y":508,"width":421,"height":10}},{"id":"0801b2d1-fbbe-4998-9efb-085e7ffa0345","block_type":"box","text":"on 03456 04 04 04* or alternatively by putting your request","page_number":94,"box":{"x":57,"y":523,"width":421,"height":10}},{"id":"3d687604-ed5c-4a5d-9588-9aeddd7deb6f","block_type":"box","text":"in writing. The ACD will allocate the price calculated from the","page_number":94,"box":{"x":58,"y":537,"width":419,"height":10}},{"id":"8b12e1d1-06dd-4bff-a03a-a54b7abd0570","block_type":"box","text":"next valuation point and issue a contract note as evidence of","page_number":94,"box":{"x":58,"y":551,"width":421,"height":10}},{"id":"c02a9672-d8da-4e93-88eb-3a273d614c63","block_type":"box","text":"the sale.","page_number":94,"box":{"x":57,"y":565,"width":56,"height":8}},{"id":"4eadf2ee-8a85-4bcb-a058-31608cbf97b5","block_type":"box","text":"* In the interest of investors’ protection all telephone calls to the Dealing desk","page_number":94,"box":{"x":57,"y":588,"width":421,"height":8}},{"id":"720e7f70-f299-4a88-a9c7-5f74a73a8dbf","block_type":"box","text":"are recorded.","page_number":94,"box":{"x":57,"y":599,"width":71,"height":6}},{"id":"04561eff-7f2e-4513-b865-b03fa64fd8fa","block_type":"box","text":"Cancellation rights","page_number":94,"box":{"x":57,"y":624,"width":177,"height":11}},{"id":"8e3536b1-e4d2-4d0c-a587-44b8231333e0","block_type":"box","text":"Where a person purchases shares the Conduct Of Business","page_number":94,"box":{"x":57,"y":642,"width":421,"height":10}},{"id":"0c86d2b1-598c-47dd-b3f8-a6eb930d8fb0","block_type":"box","text":"Sourcebook (as amended from time to time) may give the","page_number":94,"box":{"x":57,"y":656,"width":420,"height":10}},{"id":"e04331f0-2409-4ebc-b837-421c3a2119dc","block_type":"box","text":"investor the right to cancel the relevant purchase within 14","page_number":94,"box":{"x":58,"y":671,"width":384,"height":10}},{"id":"39802552-ca78-4367-8a8a-ec9400c49190","block_type":"box","text":"days","page_number":94,"box":{"x":447,"y":671,"width":30,"height":10}},{"id":"5fed6629-1538-4148-8fe2-d4ae41cc425b","block_type":"box","text":"of receipt of the requisite notice of a right to cancel. The right","page_number":94,"box":{"x":57,"y":685,"width":421,"height":10}},{"id":"47bd0ab0-61be-42a5-9e00-0a01aea4328a","block_type":"box","text":"to cancel does not arise if (a) the investor is not a private","page_number":94,"box":{"x":57,"y":699,"width":420,"height":10}},{"id":"37414284-f04f-436f-8b23-d23ec47048a1","block_type":"box","text":"customer, (b) the investor is not an execution-only customer,","page_number":94,"box":{"x":57,"y":713,"width":420,"height":10}},{"id":"533769ac-0d16-4bcf-a066-cbde5a0b7376","block_type":"box","text":"(c) the agreement to purchase is entered into through a direct","page_number":94,"box":{"x":58,"y":728,"width":420,"height":10}},{"id":"284f40cf-deeb-48b7-8c6f-c7505d3767b0","block_type":"box","text":"offer financial promotion, or (d) the agreement is entered into","page_number":94,"box":{"x":57,"y":742,"width":421,"height":10}},{"id":"f7f96a03-b343-45aa-91e0-5d212196dd7e","block_type":"box","text":"under a customer agreement or during negotiations (which are","page_number":94,"box":{"x":58,"y":756,"width":419,"height":10}},{"id":"a52a4be5-0435-4a93-b119-75dd79206b8e","block_type":"box","text":"not ISA or PEP related) intended to lead to a client agreement.","page_number":94,"box":{"x":58,"y":770,"width":419,"height":10}},{"id":"881f7007-e376-4985-9681-f8f2ae9fb962","block_type":"box","text":"UK taxation","page_number":94,"box":{"x":522,"y":151,"width":110,"height":9}},{"id":"8e9eaf7a-3aab-4d3b-ae7e-63c78c1dca58","block_type":"box","text":"The Company is not subject to Capital Gains Tax.","page_number":94,"box":{"x":521,"y":169,"width":333,"height":10}},{"id":"55f40a3c-932d-4794-96da-dce46ae095dd","block_type":"box","text":"Capital gains established when shares are sold are subject to","page_number":94,"box":{"x":522,"y":190,"width":420,"height":10}},{"id":"c048d6ce-2bcf-4917-b3d6-ab4bd57199b4","block_type":"box","text":"tax, but at the present time investors are not liable unless their","page_number":94,"box":{"x":521,"y":205,"width":422,"height":9}},{"id":"e36f58dd-68e3-4d57-bef2-ee5c1d0d1977","block_type":"box","text":"total gains in any tax year from all disposals of assets exceed","page_number":94,"box":{"x":521,"y":219,"width":420,"height":10}},{"id":"bbd2f144-df54-4488-9d73-367a3f1a578e","block_type":"box","text":"the Capital Gains Tax annual exemption.","page_number":94,"box":{"x":521,"y":233,"width":273,"height":10}},{"id":"588d3932-0334-46d7-a9bf-997876c3e312","block_type":"box","text":"Investors receive a distribution of net revenue with tax","page_number":94,"box":{"x":522,"y":254,"width":420,"height":8}},{"id":"70f4c468-6f23-41e3-bf73-e61c4ae201ae","block_type":"box","text":"credit equivalent to the lower rate of income tax. Where the","page_number":94,"box":{"x":522,"y":268,"width":420,"height":10}},{"id":"c655f512-505a-40f0-9bb6-360c9d1681d2","block_type":"box","text":"distribution is retained within a sub-fund and not paid out it","page_number":94,"box":{"x":521,"y":283,"width":421,"height":9}},{"id":"a0463534-d9da-4582-901d-906a3081fcf7","block_type":"box","text":"should be included in investors’ Income Tax Return. No further","page_number":94,"box":{"x":521,"y":297,"width":422,"height":8}},{"id":"da755f69-3e6b-4fca-a716-4bbe0134dbe2","block_type":"box","text":"liability exists if they pay at the lower or basic rate, but higher","page_number":94,"box":{"x":522,"y":311,"width":421,"height":10}},{"id":"9541d51a-6a69-4793-aa69-da160d2f59e8","block_type":"box","text":"rate tax will be payable as appropriate. If investors are not liable","page_number":94,"box":{"x":522,"y":325,"width":420,"height":10}},{"id":"048a427b-7d78-45c7-97b4-1205719cbaad","block_type":"box","text":"to tax they are unable to claim repayment of the tax credit from","page_number":94,"box":{"x":521,"y":340,"width":420,"height":10}},{"id":"88c8c94d-df5a-4e58-91f2-6686aff1230a","block_type":"box","text":"HM Revenue & Customs. The treatment of distributions as","page_number":94,"box":{"x":522,"y":354,"width":420,"height":8}},{"id":"0fa1f2b1-e458-424b-90cd-df253431afce","block_type":"box","text":"received by corporate shareholders is detailed on the reverse","page_number":94,"box":{"x":522,"y":368,"width":420,"height":10}},{"id":"911ac9a0-4d1a-43da-a0ef-fb5216a4733c","block_type":"box","text":"of dividend warrants.","page_number":94,"box":{"x":521,"y":382,"width":140,"height":8}},{"id":"db0f9038-c36e-492e-aaf9-bb71522f2a07","block_type":"box","text":"The first distribution received after purchasing shares includes","page_number":94,"box":{"x":521,"y":403,"width":421,"height":10}},{"id":"5a27d05d-6a25-4295-9f60-b5d64068adbd","block_type":"box","text":"an amount described as ‘equalisation’. This is a repayment of","page_number":94,"box":{"x":521,"y":418,"width":422,"height":10}},{"id":"e8e5d3d2-b7d7-4b12-84a1-f986f5c84e25","block_type":"box","text":"capital and is, therefore, not liable to Income Tax. It should,","page_number":94,"box":{"x":522,"y":432,"width":419,"height":10}},{"id":"6f4d5036-cc51-4fda-9f1e-da464dffd9d1","block_type":"box","text":"however, be deducted from the initial cost of shares for Capital","page_number":94,"box":{"x":522,"y":446,"width":419,"height":10}},{"id":"52ffd933-d3d6-4410-a4fa-07e0ee83d140","block_type":"box","text":"Gains Tax purposes.","page_number":94,"box":{"x":522,"y":460,"width":138,"height":10}},{"id":"b86d9d5e-f6a6-4d04-b98c-5f769581579d","block_type":"box","text":"Authorisation","page_number":94,"box":{"x":521,"y":487,"width":125,"height":9}},{"id":"9e8bbfb4-697b-493e-9bb6-ffe28f019950","block_type":"box","text":"The Company was authorised by the Financial Conduct","page_number":94,"box":{"x":521,"y":506,"width":421,"height":10}},{"id":"f77d602e-a22c-4250-88ef-2d5efc9feb3e","block_type":"box","text":"Authority on 17 February 2016. The Company is a non-UCITS","page_number":94,"box":{"x":521,"y":520,"width":421,"height":10}},{"id":"c8617945-d8d3-4b7e-a968-f47357a82956","block_type":"box","text":"retail scheme.","page_number":94,"box":{"x":522,"y":534,"width":93,"height":8}},{"id":"48f2720a-f918-4bf6-9f4c-148f215cff1a","block_type":"box","text":"Company Reports and Prospectus","page_number":94,"box":{"x":522,"y":561,"width":314,"height":11}},{"id":"7203d6cf-1abe-4d44-bcf1-204074c47559","block_type":"box","text":"Copies of the latest yearly and half yearly financial statements","page_number":94,"box":{"x":522,"y":580,"width":420,"height":10}},{"id":"2d6dadec-6fff-4437-b583-051664498610","block_type":"box","text":"and copies of the Prospectus may be obtained from Royal","page_number":94,"box":{"x":521,"y":594,"width":420,"height":10}},{"id":"cf0f412a-c1fe-44a2-8368-352a8e11db3a","block_type":"box","text":"London Unit Trust Managers Limited upon request.","page_number":94,"box":{"x":522,"y":608,"width":341,"height":10}},{"id":"4b9ec33b-b7e6-42f7-8ba9-797bba93f9b2","block_type":"box","text":"General Information","page_number":94,"box":{"x":58,"y":94,"width":238,"height":11}},{"id":"88eb2725-944c-47ec-a63b-cd8e54474737","block_type":"box","text":"Royal London Multi-Asset Funds ICVC","page_number":94,"box":{"x":709,"y":33,"width":204,"height":8}},{"id":"0f52435b-b2a7-4f6e-bbd2-9788909e10a1","block_type":"box","text":"94","page_number":94,"box":{"x":929,"y":33,"width":13,"height":6}},{"id":"fab97ede-d6ed-40be-9c32-d3ef8c2c5c10","block_type":"box","text":"Contact Us","page_number":95,"box":{"x":58,"y":94,"width":131,"height":11}},{"id":"c946b679-c85e-4b03-9e50-7e7112632ce6","block_type":"box","text":"For further information please contact:","page_number":95,"box":{"x":58,"y":118,"width":257,"height":10}},{"id":"91f6b8d1-8441-43e6-9c29-e0c3b1c0a0be","block_type":"box","text":"Royal London Asset Management Limited","page_number":95,"box":{"x":58,"y":139,"width":303,"height":10}},{"id":"6665fe5c-b449-43a2-993a-f0b64eb130ea","block_type":"box","text":"80 Fenchurch Street,","page_number":95,"box":{"x":57,"y":153,"width":141,"height":10}},{"id":"44ed808d-abc3-40be-a4cf-78cb5a861e9a","block_type":"box","text":"London EC3M 4BY","page_number":95,"box":{"x":58,"y":168,"width":129,"height":7}},{"id":"db3b7966-bffc-4fd7-9432-d6fa07a79369","block_type":"box","text":"020 3272 5950","page_number":95,"box":{"x":57,"y":189,"width":101,"height":7}},{"id":"780bcfb9-3811-455f-9434-c081fe47c05f","block_type":"box","text":"bdsupport@rlam.co.uk","page_number":95,"box":{"x":58,"y":203,"width":153,"height":10}},{"id":"1d95581c-2911-48bc-aac4-ad18f64990b1","block_type":"box","text":"www.rlam.com","page_number":95,"box":{"x":57,"y":217,"width":99,"height":8}},{"id":"cba652ba-0380-4085-944a-3930aebafc81","block_type":"box","text":"This report is issued by Royal London Asset Management Limited on behalf of","page_number":95,"box":{"x":521,"y":94,"width":422,"height":7}},{"id":"422ab3be-9cf4-4d6b-b8f0-8274fa71895a","block_type":"box","text":"Royal London Unit Trust Managers Limited.","page_number":95,"box":{"x":522,"y":104,"width":229,"height":8}},{"id":"cfd43ef2-832b-4cf2-a36a-02f92900bbad","block_type":"box","text":"Royal London Asset Management is a marketing brand which includes Royal","page_number":95,"box":{"x":522,"y":119,"width":420,"height":7}},{"id":"11da52d5-1079-4a9e-bde5-708a0dde7855","block_type":"box","text":"London Unit Trust Managers Limited, authorised and regulated by the Financial","page_number":95,"box":{"x":522,"y":129,"width":419,"height":8}},{"id":"670b7071-e108-4a0d-800e-14e93672babc","block_type":"box","text":"Conduct Authority and which manages collective investment schemes,","page_number":95,"box":{"x":522,"y":140,"width":419,"height":8}},{"id":"281e0765-1674-475e-ae0d-845218690ce3","block_type":"box","text":"registered in England and Wales number 2372439.","page_number":95,"box":{"x":522,"y":151,"width":269,"height":7}},{"id":"d854be53-af87-45fa-b1be-c2ac28c6a135","block_type":"box","text":"This company is a subsidiary of The Royal London Mutual Insurance Society","page_number":95,"box":{"x":521,"y":165,"width":421,"height":7}},{"id":"1e67c7d5-5e08-4770-b750-8c02526e3183","block_type":"box","text":"Limited, registered in England and Wales number 99064.","page_number":95,"box":{"x":522,"y":175,"width":302,"height":8}},{"id":"3e3b7c37-2923-4b13-bf39-b6f4afc5fb9a","block_type":"box","text":"Registered office: 80 Fenchurch Street, London EC3M 4BY.","page_number":95,"box":{"x":522,"y":189,"width":316,"height":8}}],"unit":"per_mille","page_width":595,"page_height":841,"attributes":{"chunk_type":"page_range","start_page":1,"end_page":95}},"source":{"type":"Model","id":"github:dorsalhub/pdf-extractor","version":"0.5.0","execution_id":"1d3cdf97-e90a-498e-a329-da99da3f067b"},"user_id":1000002,"date_created":"2026-10-23T23:00:55.528000Z","date_modified":"2026-10-23T23:01:14.804000Z","private":false}