{"annotation_id":"7659b8fe-9a02-4f6c-9768-af6fa112e0dc","file_hash":"e257e822507736fb185cb956a8dee6520d40fbbb13450a1b02ba26afc77853ff","schema_id":"open/document-extraction","schema_version":"0.5.0","record":{"extraction_type":"boxes","producer":"pdf-extractor-v0.5.0","blocks":[{"id":"1a66683e-908d-4bb7-bb85-0571599f7601","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":1,"box":{"x":119,"y":940,"width":303,"height":8}},{"id":"65a71e87-613e-4cbc-bfc4-57779b190b91","block_type":"box","text":"1","page_number":1,"box":{"x":851,"y":940,"width":3,"height":6}},{"id":"dc0009e9-96d9-4408-b53a-c06bbf71c428","block_type":"box","text":"Aviva Investors: Confidential","page_number":1,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"e49d258b-0e55-40b6-9455-48135bb83965","block_type":"box","text":"AVIVA INVESTORS UK FUND SERVICES LIMITED, a member of the AVIVA GROUP","page_number":1,"box":{"x":200,"y":46,"width":642,"height":10}},{"id":"917d64ed-d191-47a9-9ec2-ee55df2290fe","block_type":"box","text":"AVIVA INVESTORS FUNDS ACS","page_number":1,"box":{"x":394,"y":62,"width":254,"height":9}},{"id":"22f489cc-ab01-4313-93cd-d449ba19e975","block_type":"box","text":"PROSPECTUS","page_number":1,"box":{"x":465,"y":83,"width":113,"height":9}},{"id":"0a66d49c-d1f4-409f-a36b-fdb56a37a5da","block_type":"box","text":"AI STEWARDSHIP UK EQUITY FUND","page_number":1,"box":{"x":375,"y":112,"width":292,"height":9}},{"id":"50650c43-4621-4b67-82e9-469e869ce7e3","block_type":"box","text":"AI STEWARDSHIP INTERNATIONAL EQUITY FUND","page_number":1,"box":{"x":318,"y":133,"width":405,"height":9}},{"id":"811e1d96-011a-4ca4-840e-758e97752392","block_type":"box","text":"AI STEWARDSHIP UK EQUITY INCOME FUND","page_number":1,"box":{"x":339,"y":154,"width":364,"height":9}},{"id":"550ae7b2-2bbe-436a-b5d3-abead8f351da","block_type":"box","text":"AI STEWARDSHIP FIXED INTEREST FUND","page_number":1,"box":{"x":352,"y":174,"width":338,"height":9}},{"id":"a438cfe1-bbed-4464-a456-bce65bda22e0","block_type":"box","text":"AI UK LISTED EQUITY FUND","page_number":1,"box":{"x":407,"y":195,"width":228,"height":9}},{"id":"a6d53621-ce9f-4d02-a6b0-e2ab4b3fdf31","block_type":"box","text":"AI UK LISTED EQUITY INCOME FUND","page_number":1,"box":{"x":371,"y":216,"width":300,"height":9}},{"id":"73646859-342f-4abb-b3b0-f843538bca7d","block_type":"box","text":"AI EUROPE EQUITY EX UK FUND","page_number":1,"box":{"x":388,"y":237,"width":266,"height":9}},{"id":"9c4e4678-2b75-420b-abdb-dae17a04056d","block_type":"box","text":"AI US LARGE CAP EQUITY FUND","page_number":1,"box":{"x":388,"y":257,"width":266,"height":10}},{"id":"f8a0ab2b-09ba-4fcf-9787-ab3e0b4b1524","block_type":"box","text":"AI NORTH AMERICAN EQUITY FUND","page_number":1,"box":{"x":374,"y":278,"width":294,"height":10}},{"id":"5fb3aa3c-cea2-48d1-872b-22f6d8607e38","block_type":"box","text":"AI JAPAN EQUITY FUND","page_number":1,"box":{"x":423,"y":299,"width":196,"height":9}},{"id":"2575bb59-33b7-4702-bd96-a4f53d4affce","block_type":"box","text":"AI ASIA PACIFIC EX JAPAN FUND","page_number":1,"box":{"x":385,"y":320,"width":272,"height":9}},{"id":"4a6172be-9105-44d8-9ba3-1fd7ea2eae6f","block_type":"box","text":"AI GLOBAL EQUITY FUND","page_number":1,"box":{"x":416,"y":341,"width":210,"height":9}},{"id":"7ded8f56-6af0-408e-a592-a143320721f0","block_type":"box","text":"AI GLOBAL EQUITY GROWTH FUND","page_number":1,"box":{"x":375,"y":361,"width":291,"height":10}},{"id":"0048c1fb-f36c-4722-aa7f-d8821d78e37e","block_type":"box","text":"AI STRATEGIC GLOBAL EQUITY FUND","page_number":1,"box":{"x":365,"y":382,"width":312,"height":9}},{"id":"00ffacf4-b7dd-47b3-9875-561363d2425f","block_type":"box","text":"AI STERLING CORPORATE BOND FUND","page_number":1,"box":{"x":359,"y":403,"width":323,"height":9}},{"id":"28a87dc9-9043-4720-8e55-99400ecdd9fe","block_type":"box","text":"AI INDEX LINKED GILT FUND","page_number":1,"box":{"x":404,"y":424,"width":234,"height":9}},{"id":"79e762b6-d08e-4321-9684-ec66242ffd6e","block_type":"box","text":"AI STERLING GILT FUND","page_number":1,"box":{"x":421,"y":444,"width":200,"height":9}},{"id":"2f741254-47e6-4e5f-94b6-ee5335a44b0e","block_type":"box","text":"AI PRE-ANNUITY FIXED INTEREST FUND","page_number":1,"box":{"x":357,"y":465,"width":328,"height":9}},{"id":"580089cb-7f60-49da-8387-ebac917e8702","block_type":"box","text":"AI MONEY MARKET VNAV FUND","page_number":1,"box":{"x":390,"y":486,"width":261,"height":9}},{"id":"a709f3a6-1b60-4dde-8a33-41973b864e47","block_type":"box","text":"AI BALANCED PENSION FUND","page_number":1,"box":{"x":398,"y":507,"width":246,"height":9}},{"id":"a48611ca-aef5-4685-b8cc-a691898e1aab","block_type":"box","text":"AI BALANCED LIFE FUND","page_number":1,"box":{"x":417,"y":528,"width":207,"height":9}},{"id":"ff0106c1-1da6-4c19-86ce-46c594847a77","block_type":"box","text":"AI CAUTIOUS PENSION FUND","page_number":1,"box":{"x":401,"y":548,"width":240,"height":9}},{"id":"46852397-178b-4778-b04d-2c3005c658f8","block_type":"box","text":"AI DISTRIBUTION LIFE FUND","page_number":1,"box":{"x":405,"y":569,"width":232,"height":9}},{"id":"16f91df0-5cb8-4018-8c43-5c0b729b728b","block_type":"box","text":"AI UK EQUITY ALPHA FUND","page_number":1,"box":{"x":408,"y":589,"width":226,"height":9}},{"id":"33a62410-82cb-4ef1-af4b-1ca4968077a7","block_type":"box","text":"AI UK EQUITY DIVIDEND FUND","page_number":1,"box":{"x":397,"y":609,"width":248,"height":9}},{"id":"fe7f1603-f3e7-4e2b-b1ed-1f691208618c","block_type":"box","text":"AI CONTINENTAL EUROPEAN EQUITY ALPHA FUND","page_number":1,"box":{"x":310,"y":628,"width":422,"height":9}},{"id":"0f67ddc4-ce4e-4db0-b4c9-3078a174a1f6","block_type":"box","text":"(please note that this Sub-Fund is in the process of being terminated and is no longer available for investment)","page_number":1,"box":{"x":96,"y":648,"width":818,"height":11}},{"id":"a0d2fd5c-40e2-4efa-8789-640e06a22367","block_type":"box","text":"AI UK LISTED EQUITY EX TOBACCO FUND","page_number":1,"box":{"x":349,"y":667,"width":344,"height":9}},{"id":"2e6acf66-22d7-47dd-b65e-65ab9dc2a21a","block_type":"box","text":"AVIVA INVESTORS UK EQUITY CORE FUND","page_number":1,"box":{"x":345,"y":687,"width":352,"height":9}},{"id":"e6bca832-14a8-48d9-8373-034903dc51c6","block_type":"box","text":"AVIVA INVESTORS EUROPE EQUITY EX UK CORE FUND","page_number":1,"box":{"x":293,"y":706,"width":456,"height":10}},{"id":"ada1258d-acba-46f9-944c-9d914eea464e","block_type":"box","text":"AVIVA INVESTORS JAPAN EQUITY CORE FUND","page_number":1,"box":{"x":328,"y":726,"width":386,"height":9}},{"id":"7dcdf848-d4de-4d89-8c3a-234cbdf06e86","block_type":"box","text":"AVIVA INVESTORS PACIFIC EQUITY EX JAPAN CORE FUND","page_number":1,"box":{"x":279,"y":746,"width":484,"height":9}},{"id":"358ae316-100c-459b-a765-841f7e47784a","block_type":"box","text":"AVIVA INVESTORS NORTH AMERICAN EQUITY CORE FUND","page_number":1,"box":{"x":279,"y":765,"width":484,"height":10}},{"id":"bfb95c43-2cda-4661-8413-2bbbf630adc3","block_type":"box","text":"AVIVA INVESTORS EMERGING MARKET EQUITY CORE FUND","page_number":1,"box":{"x":273,"y":785,"width":496,"height":9}},{"id":"3700e890-00be-4e29-92b7-76257a6a4a8b","block_type":"box","text":"This Prospectus is dated and is valid as at","page_number":1,"box":{"x":352,"y":824,"width":338,"height":11}},{"id":"044dd191-a219-44fc-b948-bd00552067e3","block_type":"box","text":"16 October 2026","page_number":1,"box":{"x":457,"y":844,"width":128,"height":9}},{"id":"a512f0c9-dab3-4c08-9021-3c9a3c91d791","block_type":"box","text":"Prepared in accordance with the Collective Investment Schemes Sourcebook and the FUND","page_number":1,"box":{"x":156,"y":883,"width":730,"height":11}},{"id":"add960a8-a750-4095-90de-6f74638dc70e","block_type":"box","text":"Sourcebook","page_number":1,"box":{"x":473,"y":896,"width":97,"height":9}},{"id":"ba10a130-4e78-4d2c-a10e-b3bd70035a20","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":2,"box":{"x":119,"y":892,"width":303,"height":8}},{"id":"58f3d20e-ee23-4ddb-9a8e-9fa2019171a8","block_type":"box","text":"2","page_number":2,"box":{"x":851,"y":893,"width":5,"height":5}},{"id":"4c3db6b2-7e7e-4514-8444-a21cfe497b73","block_type":"box","text":"Aviva Investors: Confidential","page_number":2,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"e0f8edb5-10cc-4839-9060-24e4d54305b7","block_type":"box","text":"TABLE OF CONTENTS","page_number":2,"box":{"x":119,"y":46,"width":171,"height":8}},{"id":"f55dfbec-d625-4812-9b37-810957faed33","block_type":"box","text":"1.","page_number":2,"box":{"x":120,"y":65,"width":11,"height":8}},{"id":"9269f2a6-7c18-48be-b892-25a83daa8f2f","block_type":"box","text":"AVIVA INVESTORS FUNDS ACS","page_number":2,"box":{"x":166,"y":64,"width":240,"height":9}},{"id":"7f9bc40c-477d-49fb-a631-7e075ed8adf5","block_type":"box","text":"3","page_number":2,"box":{"x":453,"y":65,"width":7,"height":8}},{"id":"16142af8-f767-42b0-a677-98ad1aaa7c31","block_type":"box","text":"2.","page_number":2,"box":{"x":119,"y":84,"width":12,"height":8}},{"id":"87d0ecf8-d7ce-483c-b36e-3ae076b62008","block_type":"box","text":"DISTRIBUTION","page_number":2,"box":{"x":168,"y":83,"width":110,"height":9}},{"id":"44e2cc7a-4e6b-4df5-b127-9f6f512cf292","block_type":"box","text":"3","page_number":2,"box":{"x":357,"y":84,"width":8,"height":8}},{"id":"c953aeaf-7d55-4b91-a8a9-d4206d64b554","block_type":"box","text":"3.","page_number":2,"box":{"x":119,"y":103,"width":12,"height":8}},{"id":"3a367a4d-8214-4453-89fd-e72ba0ca1c97","block_type":"box","text":"GLOSSARY 3","page_number":2,"box":{"x":167,"y":102,"width":103,"height":9}},{"id":"d8ec0cc1-749d-4b33-8956-89b6c344b4d2","block_type":"box","text":"4.","page_number":2,"box":{"x":119,"y":122,"width":12,"height":7}},{"id":"a02c825f-01f4-4346-87ba-544fcba63c41","block_type":"box","text":"THE ACS MANAGER","page_number":2,"box":{"x":166,"y":121,"width":154,"height":9}},{"id":"e0396ec8-c744-420c-be1e-8013feed2dd2","block_type":"box","text":"7","page_number":2,"box":{"x":357,"y":122,"width":8,"height":7}},{"id":"6c7e3e9d-f5a3-4c29-b980-7d28ebd7ad77","block_type":"box","text":"5.","page_number":2,"box":{"x":119,"y":141,"width":12,"height":8}},{"id":"236a34d5-9838-40a7-8cd5-9a55898c0d7a","block_type":"box","text":"THE DEPOSITARY","page_number":2,"box":{"x":166,"y":140,"width":139,"height":9}},{"id":"14b7129e-5ee2-4ee2-800f-df61d255d6f9","block_type":"box","text":"7","page_number":2,"box":{"x":357,"y":141,"width":8,"height":7}},{"id":"3856d820-5d60-4d7e-8b90-a1256cf90264","block_type":"box","text":"6.","page_number":2,"box":{"x":119,"y":159,"width":12,"height":8}},{"id":"daa26a51-6a41-409b-9427-86acb5cae185","block_type":"box","text":"THE INVESTMENT MANAGERS 9","page_number":2,"box":{"x":166,"y":159,"width":247,"height":8}},{"id":"0aceb557-6e75-49df-ae74-9299a875d22e","block_type":"box","text":"7.","page_number":2,"box":{"x":119,"y":178,"width":12,"height":8}},{"id":"cedfc04a-9e98-4753-99b1-9a4dd3d2369a","block_type":"box","text":"THE REGISTRAR","page_number":2,"box":{"x":166,"y":178,"width":129,"height":8}},{"id":"9c8c7017-3c86-4cb9-88d0-46d660971472","block_type":"box","text":"10","page_number":2,"box":{"x":358,"y":178,"width":16,"height":8}},{"id":"c9f3e106-04ee-4813-ade5-9072e8e388a7","block_type":"box","text":"8.","page_number":2,"box":{"x":119,"y":197,"width":12,"height":8}},{"id":"5afa1065-eddc-4ec2-9f60-2a57b35ad777","block_type":"box","text":"THE SECURITIES LENDING AGENT 10","page_number":2,"box":{"x":166,"y":197,"width":303,"height":8}},{"id":"4692b990-0904-4a6c-bf3a-dfe6adb89891","block_type":"box","text":"9.","page_number":2,"box":{"x":119,"y":216,"width":12,"height":8}},{"id":"9be66957-5e6a-4b70-b3a0-f1b36a685a41","block_type":"box","text":"THE ADMINISTRATOR 10","page_number":2,"box":{"x":166,"y":216,"width":208,"height":8}},{"id":"c0b6d5cd-8bc4-4f8e-9a35-ed8b3c76af20","block_type":"box","text":"10.","page_number":2,"box":{"x":120,"y":235,"width":19,"height":8}},{"id":"b665e5d0-a527-454c-8ce0-83b98bb6a02c","block_type":"box","text":"THE AUDITOR","page_number":2,"box":{"x":166,"y":235,"width":108,"height":8}},{"id":"cb9b8dcc-d167-457d-b12d-07cf9d6c116a","block_type":"box","text":"10","page_number":2,"box":{"x":358,"y":235,"width":16,"height":8}},{"id":"e76e0dd8-3b5b-4032-b09d-a588e382c063","block_type":"box","text":"11.","page_number":2,"box":{"x":120,"y":254,"width":19,"height":8}},{"id":"658e2d2b-4319-402d-a3a3-976a3dca02d2","block_type":"box","text":"UNITHOLDER’S RELATIONSHIP WITH THE SCHEME .............................................................. 10","page_number":2,"box":{"x":167,"y":254,"width":690,"height":8}},{"id":"d574ccfe-a365-4ff5-a0da-d92b994b5d17","block_type":"box","text":"12.","page_number":2,"box":{"x":120,"y":273,"width":19,"height":8}},{"id":"515ad114-db03-4136-a7d3-68c2d459769e","block_type":"box","text":"UNITHOLDER’S RIGHTS AGAINST SERVICE PROVIDERS ...................................................... 10","page_number":2,"box":{"x":167,"y":272,"width":690,"height":9}},{"id":"309a0171-8ede-4f24-aad9-2f4350578960","block_type":"box","text":"13.","page_number":2,"box":{"x":120,"y":292,"width":19,"height":8}},{"id":"a27f1a5e-40fe-41d1-8777-e8909d7c2881","block_type":"box","text":"SUBSCRIPTION AND REDEMPTION OF UNITS ......................................................................... 11","page_number":2,"box":{"x":167,"y":291,"width":687,"height":9}},{"id":"c6034878-1702-4113-a1bf-97ac0cd01650","block_type":"box","text":"14.","page_number":2,"box":{"x":120,"y":311,"width":19,"height":8}},{"id":"0fac50e7-d869-4813-8b1f-7000460e1975","block_type":"box","text":"EXCESSIVE TRADING POLICY 14","page_number":2,"box":{"x":168,"y":310,"width":254,"height":9}},{"id":"c1c44b8e-af1e-4365-a498-24309748a438","block_type":"box","text":"15.","page_number":2,"box":{"x":120,"y":330,"width":19,"height":8}},{"id":"949ebb26-1918-4249-9a02-65f029897663","block_type":"box","text":"COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS ............................................... 14","page_number":2,"box":{"x":167,"y":329,"width":690,"height":9}},{"id":"2e8bedaa-22cd-4f83-aa66-103f988a22df","block_type":"box","text":"16.","page_number":2,"box":{"x":120,"y":348,"width":19,"height":9}},{"id":"c0a27a14-68c5-4b00-902b-cce669668680","block_type":"box","text":"VALUATION 15","page_number":2,"box":{"x":167,"y":348,"width":112,"height":9}},{"id":"5126bd24-cf65-4da5-a1b1-0019f3078be6","block_type":"box","text":"17.","page_number":2,"box":{"x":120,"y":367,"width":19,"height":8}},{"id":"f2d08473-eda1-4142-9170-1721a799d12e","block_type":"box","text":"PRICES OF UNITS AND HISTORIC PERFORMANCE DATA ..................................................... 15","page_number":2,"box":{"x":168,"y":367,"width":688,"height":9}},{"id":"1d0155b6-1a5a-49e6-9eb2-2d0f6fa59d50","block_type":"box","text":"18.","page_number":2,"box":{"x":120,"y":386,"width":19,"height":8}},{"id":"f084d191-c47c-494c-bcb8-029d6c73eb56","block_type":"box","text":"POLICY ON PRICING 16","page_number":2,"box":{"x":168,"y":386,"width":206,"height":8}},{"id":"cbc4330c-3d6c-4e07-9e0f-46a355688563","block_type":"box","text":"19.","page_number":2,"box":{"x":120,"y":405,"width":19,"height":8}},{"id":"9c7b90fa-a898-415d-8f9e-4be0ff4cb358","block_type":"box","text":"MINIMUM INVESTMENT 16","page_number":2,"box":{"x":167,"y":405,"width":207,"height":8}},{"id":"95336c85-585f-49ac-84ed-e8179c626180","block_type":"box","text":"20.","page_number":2,"box":{"x":119,"y":424,"width":20,"height":8}},{"id":"a3c1e25f-5e5c-43f3-8c2f-55aca43bcffc","block_type":"box","text":"ACS MANAGER'S BOX 16","page_number":2,"box":{"x":166,"y":424,"width":208,"height":8}},{"id":"1ffe514f-b79d-4d5b-945c-7f30b5d00069","block_type":"box","text":"21.","page_number":2,"box":{"x":119,"y":443,"width":20,"height":8}},{"id":"a786e6c9-e5bf-4e15-9794-83503a61ddec","block_type":"box","text":"PUBLICATION OF PRICES AND YIELDS .................................................................................... 16","page_number":2,"box":{"x":168,"y":443,"width":689,"height":8}},{"id":"15b7ea43-46c9-4b4f-a9f5-7d654b4253da","block_type":"box","text":"22.","page_number":2,"box":{"x":119,"y":462,"width":20,"height":8}},{"id":"62b5f325-b47b-4c15-a737-2ba095aa0840","block_type":"box","text":"CLASSES OF UNITS","page_number":2,"box":{"x":167,"y":462,"width":151,"height":8}},{"id":"6470a88d-cd2e-4f96-ae96-9b6a1e70d626","block_type":"box","text":"17","page_number":2,"box":{"x":358,"y":462,"width":16,"height":8}},{"id":"0fee888c-710a-4dff-9166-9ecccebb793f","block_type":"box","text":"23.","page_number":2,"box":{"x":119,"y":481,"width":20,"height":8}},{"id":"c5b1bfda-92c5-42cb-8747-fe2503ee7131","block_type":"box","text":"EVIDENCE OF TITLE","page_number":2,"box":{"x":168,"y":480,"width":153,"height":9}},{"id":"36acba9a-d9b5-4f65-a4c8-4c2a0d2e4740","block_type":"box","text":"17","page_number":2,"box":{"x":358,"y":481,"width":16,"height":8}},{"id":"f5d8981f-6a3c-41f7-a9d0-960143915738","block_type":"box","text":"24.","page_number":2,"box":{"x":119,"y":500,"width":20,"height":8}},{"id":"94af6d5c-c68f-4e15-8540-2eb7ace34750","block_type":"box","text":"INVESTMENT OBJECTIVES AND POLICY, AND INVESTMENT RESTRICTIONS .................... 17","page_number":2,"box":{"x":168,"y":499,"width":688,"height":10}},{"id":"d0e67e39-f6ef-45d0-8d74-dae476c83a2d","block_type":"box","text":"25.","page_number":2,"box":{"x":119,"y":519,"width":20,"height":8}},{"id":"5f4e1ec5-f370-42cc-b147-16aa79c821e1","block_type":"box","text":"LEVERAGE RATIOS","page_number":2,"box":{"x":167,"y":518,"width":148,"height":9}},{"id":"b89ef9a6-28c7-4a3d-bacc-8781772c9d5b","block_type":"box","text":"20","page_number":2,"box":{"x":357,"y":519,"width":17,"height":8}},{"id":"793dc6b8-6cf1-45f4-8862-83bcde65c1f4","block_type":"box","text":"26.","page_number":2,"box":{"x":119,"y":538,"width":20,"height":8}},{"id":"66ca3fd0-7171-4152-8b3e-7327feb310da","block_type":"box","text":"RISK CONSIDERATIONS 20","page_number":2,"box":{"x":168,"y":537,"width":206,"height":9}},{"id":"79b33d1e-13ad-4c30-8372-9fe3166510b4","block_type":"box","text":"27.","page_number":2,"box":{"x":119,"y":557,"width":20,"height":7}},{"id":"b7f6ab06-a780-42b4-b837-092a2bf4194b","block_type":"box","text":"TAXATION 32","page_number":2,"box":{"x":166,"y":556,"width":113,"height":9}},{"id":"d25e1d7b-e93a-4408-ba98-ad9f8c3b23a8","block_type":"box","text":"28.","page_number":2,"box":{"x":119,"y":575,"width":20,"height":9}},{"id":"4cd805a7-ae71-436a-ad3b-a296f0c917b6","block_type":"box","text":"CHARGES 34","page_number":2,"box":{"x":167,"y":575,"width":112,"height":9}},{"id":"ecfaa0bb-a3ff-4ab5-bada-abe8533ae9a7","block_type":"box","text":"29.","page_number":2,"box":{"x":119,"y":594,"width":20,"height":8}},{"id":"8ebd5b88-a367-4914-b8fe-07020b5dd020","block_type":"box","text":"CONFLICTS OF INTEREST","page_number":2,"box":{"x":167,"y":594,"width":199,"height":8}},{"id":"81af9840-5d41-424e-b1f5-df9470b60bda","block_type":"box","text":"37","page_number":2,"box":{"x":405,"y":594,"width":17,"height":8}},{"id":"733ca2c9-3626-492b-b567-393620b5ce84","block_type":"box","text":"30.","page_number":2,"box":{"x":119,"y":613,"width":20,"height":8}},{"id":"630d50f2-7dee-4b58-b423-cbaf8af05300","block_type":"box","text":"FAIR TREATMENT","page_number":2,"box":{"x":168,"y":613,"width":136,"height":8}},{"id":"38fbe96e-7bef-4881-983c-654302a0c802","block_type":"box","text":"39","page_number":2,"box":{"x":357,"y":613,"width":17,"height":8}},{"id":"25c184cf-8ef4-4f2c-aac5-7704c101386b","block_type":"box","text":"31.","page_number":2,"box":{"x":119,"y":632,"width":20,"height":8}},{"id":"af6cee5a-1a5f-4b51-b311-897a67a0cc20","block_type":"box","text":"CHANGES TO THE SCHEME AND MEETINGS OF UNITHOLDERS ......................................... 39","page_number":2,"box":{"x":167,"y":632,"width":689,"height":8}},{"id":"b1e4370d-60bc-45e5-b72a-40b40573cc33","block_type":"box","text":"32.","page_number":2,"box":{"x":119,"y":651,"width":20,"height":8}},{"id":"be57dcf6-27c4-4c0c-8d32-d8760a7f1a15","block_type":"box","text":"WINDING UP","page_number":2,"box":{"x":166,"y":651,"width":97,"height":8}},{"id":"78030bd7-4ed3-45fe-b5f8-a0662ba4811d","block_type":"box","text":"40","page_number":2,"box":{"x":357,"y":651,"width":17,"height":8}},{"id":"88caa681-0134-4055-a055-695a35c3f35f","block_type":"box","text":"33.","page_number":2,"box":{"x":119,"y":670,"width":20,"height":8}},{"id":"9ec6283f-c9fa-4e39-aee1-6914c73da663","block_type":"box","text":"ALLOCATION OF INCOME","page_number":2,"box":{"x":166,"y":670,"width":195,"height":8}},{"id":"f17c0396-bff9-4ccc-8b08-5e745511ab36","block_type":"box","text":"41","page_number":2,"box":{"x":405,"y":670,"width":14,"height":8}},{"id":"91cf136a-8b83-4f17-be10-efe27b52fec4","block_type":"box","text":"34.","page_number":2,"box":{"x":119,"y":689,"width":20,"height":8}},{"id":"fcf63af9-a658-4b65-9e1b-18b559ec7496","block_type":"box","text":"INFORMATION MADE AVAILABLE TO UNITHOLDERS ............................................................. 41","page_number":2,"box":{"x":168,"y":689,"width":686,"height":8}},{"id":"5026064f-390c-4a07-a13c-7026331155c5","block_type":"box","text":"35.","page_number":2,"box":{"x":119,"y":708,"width":20,"height":8}},{"id":"24c87612-27d3-46a2-b1a0-b5b661452909","block_type":"box","text":"TELEPHONE RECORDING","page_number":2,"box":{"x":166,"y":708,"width":198,"height":8}},{"id":"923f4683-54cd-4efd-9f6d-d940cf7e0902","block_type":"box","text":"41","page_number":2,"box":{"x":405,"y":708,"width":14,"height":8}},{"id":"2e52d1a1-db07-4295-9d4c-f120759231a0","block_type":"box","text":"36.","page_number":2,"box":{"x":119,"y":727,"width":20,"height":8}},{"id":"b997a028-e1e3-48cf-8b9b-014803b68103","block_type":"box","text":"ADDITIONAL INFORMATION 42","page_number":2,"box":{"x":166,"y":726,"width":255,"height":9}},{"id":"0c243816-d902-41fb-8bea-3441e0d73c7b","block_type":"box","text":"37.","page_number":2,"box":{"x":119,"y":746,"width":20,"height":8}},{"id":"d0ab495d-772c-4b9a-b3c1-ba8f5769512e","block_type":"box","text":"CLIENT MONEY","page_number":2,"box":{"x":167,"y":745,"width":118,"height":9}},{"id":"0a5109ff-2739-44de-a016-4a6b257b075f","block_type":"box","text":"43","page_number":2,"box":{"x":357,"y":746,"width":17,"height":8}},{"id":"fd4a4ecb-2a5c-466c-86b5-ea526231d5a8","block_type":"box","text":"38.","page_number":2,"box":{"x":119,"y":765,"width":20,"height":8}},{"id":"c02c94dc-2167-404e-bd33-a5899a0e7403","block_type":"box","text":"RESTRICTIONS ON INVESTMENT AND HOLDING OF AVIVA PLC SHARES AND OTHER","page_number":2,"box":{"x":168,"y":764,"width":671,"height":9}},{"id":"91980616-1aaa-40b3-9a90-3873f26ad0fc","block_type":"box","text":"AVIVA SECURITIES","page_number":2,"box":{"x":214,"y":777,"width":146,"height":9}},{"id":"cb65cc91-cf0d-48b1-ad63-272aa64168ce","block_type":"box","text":"43","page_number":2,"box":{"x":405,"y":778,"width":17,"height":8}},{"id":"ec6ed9bc-6616-4190-b25a-70a2f49555eb","block_type":"box","text":"39.","page_number":2,"box":{"x":119,"y":796,"width":20,"height":9}},{"id":"036ef43b-d7ca-450d-af4a-3a61ede19e66","block_type":"box","text":"FIRM-LEVEL STEWARDSHIP AND ESG INTEGRATION APPROACH ...................................... 43","page_number":2,"box":{"x":168,"y":796,"width":689,"height":9}},{"id":"07c3bae9-e335-4c6d-ae67-90ad24b1972e","block_type":"box","text":"40.","page_number":2,"box":{"x":119,"y":815,"width":20,"height":8}},{"id":"a9d51ee4-3e46-4569-9922-705bd9de563a","block_type":"box","text":"BENCHMARK REGULATION 43","page_number":2,"box":{"x":167,"y":815,"width":255,"height":8}},{"id":"7ba39e18-f2ea-4e80-8a60-cfb4c150702f","block_type":"box","text":"41.","page_number":2,"box":{"x":119,"y":834,"width":20,"height":8}},{"id":"df5df0ff-1304-41c1-b7dc-e873582c978d","block_type":"box","text":"INDEX DISCLAIMERS 44","page_number":2,"box":{"x":168,"y":834,"width":206,"height":8}},{"id":"6ccfa43c-7522-42c6-85ff-52be30323f3f","block_type":"box","text":"42.","page_number":2,"box":{"x":119,"y":853,"width":20,"height":8}},{"id":"ec5ea7ae-8478-4148-92a8-15179c558398","block_type":"box","text":"PREFERENTIAL TREATMENT 46","page_number":2,"box":{"x":168,"y":853,"width":254,"height":8}},{"id":"bd414d58-ab6c-4a92-994f-6f5c48e3d2fe","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 3","page_number":3,"box":{"x":62,"y":929,"width":316,"height":8}},{"id":"d4311aad-a66c-4b20-bc69-4e64c8f3954b","block_type":"box","text":"IMPORTANT: IF YOU ARE IN ANY DOUBT ABOUT","page_number":3,"box":{"x":62,"y":46,"width":396,"height":9}},{"id":"1b118dc2-9163-4ab9-9cf7-3161ead3cf46","block_type":"box","text":"THE CONTENTS OF THIS PROSPECTUS YOU","page_number":3,"box":{"x":62,"y":59,"width":361,"height":9}},{"id":"6fe944a8-6ae3-4673-8c42-e15d1c1f885a","block_type":"box","text":"SHOULD CONSULT YOUR PROFESSIONAL","page_number":3,"box":{"x":62,"y":73,"width":346,"height":9}},{"id":"59378021-8aa3-497e-93e5-64357b5d0072","block_type":"box","text":"ADVISER.","page_number":3,"box":{"x":62,"y":87,"width":78,"height":8}},{"id":"50455115-5848-4e8a-991b-5b4846f0598d","block_type":"box","text":"1. Aviva Investors Funds ACS","page_number":3,"box":{"x":74,"y":112,"width":266,"height":9}},{"id":"95be8dce-3b23-45a6-89aa-36cfdea0d85b","block_type":"box","text":"The Scheme was authorised by an order made by the","page_number":3,"box":{"x":62,"y":132,"width":399,"height":11}},{"id":"77bf06b9-2cc3-4a8b-adc2-c17863e145e4","block_type":"box","text":"FCA with effect from 5 December 2014. The FCA","page_number":3,"box":{"x":63,"y":145,"width":399,"height":9}},{"id":"fd404fb1-4bb8-4d85-8ee8-8ceac4dd66d0","block_type":"box","text":"product reference number of the Scheme is 658260.","page_number":3,"box":{"x":62,"y":159,"width":386,"height":11}},{"id":"007d9427-a26f-43bf-819d-ffeac9d2c958","block_type":"box","text":"This document is the 'Prospectus' of the authorised","page_number":3,"box":{"x":62,"y":179,"width":399,"height":11}},{"id":"f158a171-3d90-4ec2-8c0d-a56caf6ba3af","block_type":"box","text":"contractual scheme detailed in this Prospectus valid as","page_number":3,"box":{"x":62,"y":193,"width":399,"height":10}},{"id":"c817d726-e79a-4976-b696-9f2926d3989b","block_type":"box","text":"at the date specified on the cover of this document.","page_number":3,"box":{"x":62,"y":206,"width":378,"height":11}},{"id":"423ccb48-511c-4bbe-921c-152c1e567861","block_type":"box","text":"This Prospectus has been prepared solely for and is","page_number":3,"box":{"x":62,"y":226,"width":399,"height":11}},{"id":"fa2d5c16-a2f5-472d-b861-4fae01e564eb","block_type":"box","text":"being made available to investors for the purposes of","page_number":3,"box":{"x":62,"y":239,"width":400,"height":12}},{"id":"23c62cc4-f003-445c-b0a8-fbf61e66496b","block_type":"box","text":"evaluating an investment in Units in the Sub-Funds.","page_number":3,"box":{"x":62,"y":253,"width":399,"height":11}},{"id":"d9b14693-02a7-4047-8c73-8f362c70697e","block_type":"box","text":"Investors should only consider investing in the Sub","page_number":3,"box":{"x":63,"y":267,"width":398,"height":11}},{"id":"5f317c09-cfb8-4727-a33f-0ec9c15040e4","block_type":"box","text":"Funds if they understand the risks involved including","page_number":3,"box":{"x":63,"y":280,"width":398,"height":12}},{"id":"2ab775ce-cf34-41ea-a727-ef75b145308e","block_type":"box","text":"the risk of losing all capital invested.","page_number":3,"box":{"x":62,"y":294,"width":266,"height":11}},{"id":"f9b2ef7f-089a-49cb-aeaf-9eb089eed891","block_type":"box","text":"The Scheme is organised as an umbrella Co","page_number":3,"box":{"x":62,"y":313,"width":399,"height":12}},{"id":"0eb9e63c-7fcb-4044-b54a-bb5f01d48f26","block_type":"box","text":"Ownership Scheme comprising separate Sub-Funds.","page_number":3,"box":{"x":62,"y":327,"width":392,"height":11}},{"id":"1002e75b-8ee9-4a67-90dd-13edad32d344","block_type":"box","text":"Further additional Sub-Funds may be established in","page_number":3,"box":{"x":63,"y":347,"width":398,"height":11}},{"id":"a1d4644d-ebcf-4ae5-bbed-2667dd2ef0ce","block_type":"box","text":"the future by the ACS Manager from time to time with","page_number":3,"box":{"x":62,"y":360,"width":399,"height":12}},{"id":"cfb52020-fd5c-4b0f-8608-f198c0f2a55e","block_type":"box","text":"the approval of the FCA and the agreement of the","page_number":3,"box":{"x":62,"y":374,"width":399,"height":11}},{"id":"f21bf10e-71ff-44ba-9bd0-49b15004cffd","block_type":"box","text":"Depositary. Approval by the FCA in this context does","page_number":3,"box":{"x":63,"y":388,"width":398,"height":11}},{"id":"7a05920b-bb03-437f-9c77-b19754c4fed3","block_type":"box","text":"not in any way indicate or suggest endorsement or","page_number":3,"box":{"x":62,"y":402,"width":400,"height":11}},{"id":"75a62464-3bea-47da-8135-7025c1e1f9e5","block_type":"box","text":"approval of the Funds as an investment.","page_number":3,"box":{"x":62,"y":415,"width":297,"height":11}},{"id":"af8c4e19-9f64-4baf-8863-9d7a8bb9f453","block_type":"box","text":"Each Sub-Fund shall have a segregated portfolio of","page_number":3,"box":{"x":63,"y":435,"width":399,"height":11}},{"id":"b4d69516-e8bd-4940-b8d6-9851baca1fbd","block_type":"box","text":"assets and, accordingly, the assets of a Sub-Fund are","page_number":3,"box":{"x":62,"y":448,"width":399,"height":12}},{"id":"8df59d12-4691-4136-a635-f5546d796927","block_type":"box","text":"allocated exclusively to that Sub-Fund and shall not be","page_number":3,"box":{"x":62,"y":462,"width":399,"height":11}},{"id":"f955a51f-af26-445b-9011-20bc88f8ee39","block_type":"box","text":"used or made available to discharge the liabilities of,","page_number":3,"box":{"x":63,"y":476,"width":397,"height":11}},{"id":"ecdd405e-d0e2-46d0-9202-2d86d07d1e6e","block_type":"box","text":"or claims against, any other person or body, including","page_number":3,"box":{"x":62,"y":489,"width":399,"height":11}},{"id":"81850d84-c536-436b-840d-ba68876953f6","block_type":"box","text":"any other Sub-Fund and shall not be available for any","page_number":3,"box":{"x":62,"y":503,"width":400,"height":11}},{"id":"9731ed9c-6c4b-42af-ae8e-96bada48ccf7","block_type":"box","text":"other purpose. The Scheme is subject to the rules of","page_number":3,"box":{"x":62,"y":517,"width":400,"height":11}},{"id":"db597f72-53a5-49ef-a55e-59efbc024e44","block_type":"box","text":"the FCA as set out in the COLL Sourcebook and the","page_number":3,"box":{"x":62,"y":530,"width":399,"height":9}},{"id":"f75b4dff-b90b-44be-bd4f-8e1d15eb0b1c","block_type":"box","text":"FUND Sourcebook. This Prospectus complies with the","page_number":3,"box":{"x":63,"y":544,"width":398,"height":11}},{"id":"13a53cc9-6eb2-4990-8dee-cbc93d1b549b","block_type":"box","text":"requirements of COLL 4.2 of the COLL Sourcebook.","page_number":3,"box":{"x":63,"y":557,"width":384,"height":12}},{"id":"758c4093-af19-4ce2-bb13-3e55acfc8cb5","block_type":"box","text":"Each Sub-Fund belongs to the “Non-UCITS Retail","page_number":3,"box":{"x":63,"y":577,"width":398,"height":11}},{"id":"f9c02d57-31cb-4eb1-8bc0-c91f2c05b77b","block_type":"box","text":"Scheme” category as specified in Chapter 5 of COLL","page_number":3,"box":{"x":62,"y":591,"width":400,"height":11}},{"id":"7f23c1af-efd4-450f-bede-3d8cae86f2a0","block_type":"box","text":"and the property attributable to each such Sub-Fund is","page_number":3,"box":{"x":62,"y":604,"width":399,"height":12}},{"id":"9711bc61-2d1f-4fde-92ff-587011d5aa1c","block_type":"box","text":"managed as such.","page_number":3,"box":{"x":62,"y":618,"width":135,"height":11}},{"id":"4159a437-2c9d-4da1-8518-9c003bd70586","block_type":"box","text":"2. Distribution","page_number":3,"box":{"x":74,"y":644,"width":140,"height":9}},{"id":"ed29b054-aa57-4380-aeb4-22c34dfbcad8","block_type":"box","text":"No person has been authorised by the ACS Manager","page_number":3,"box":{"x":63,"y":663,"width":399,"height":12}},{"id":"9eeb9f87-3e21-498a-8b2c-78798e62bc81","block_type":"box","text":"to give any information or to make any representations","page_number":3,"box":{"x":62,"y":677,"width":399,"height":11}},{"id":"a9290e8d-3367-4c5b-982b-dbf0fe1f3ebb","block_type":"box","text":"in connection with the offering of Units other than those","page_number":3,"box":{"x":62,"y":691,"width":399,"height":11}},{"id":"3262b769-cbab-4502-b5a7-88b0ac24f0c2","block_type":"box","text":"contained in the Prospectus and, if given or made,","page_number":3,"box":{"x":62,"y":704,"width":398,"height":11}},{"id":"749dc975-cffe-4a9b-bf76-088f3a7f1b4b","block_type":"box","text":"such information or representations must not be relied","page_number":3,"box":{"x":62,"y":718,"width":399,"height":11}},{"id":"cdab7d3e-daf7-45a9-acc6-747b20598260","block_type":"box","text":"on as having been made by the ACS Manager. The","page_number":3,"box":{"x":62,"y":731,"width":399,"height":12}},{"id":"79619304-0d13-495d-8344-c0c0eef28e7c","block_type":"box","text":"delivery of this Prospectus (whether or not","page_number":3,"box":{"x":62,"y":745,"width":400,"height":11}},{"id":"e6f431ef-4be3-4bcc-8263-4a8d4d015214","block_type":"box","text":"accompanied by any reports) or the issue of Units shall","page_number":3,"box":{"x":62,"y":759,"width":399,"height":11}},{"id":"24a5a5da-e111-4c30-b988-36009a7597b3","block_type":"box","text":"not, under any circumstances, create any implication","page_number":3,"box":{"x":62,"y":773,"width":399,"height":11}},{"id":"92b7e212-c0af-4c51-84eb-3605249ec662","block_type":"box","text":"that the affairs of the Scheme or any Sub-Fund of the","page_number":3,"box":{"x":62,"y":786,"width":399,"height":11}},{"id":"7b80dd93-50b4-47a0-82e3-3fda4d1955d2","block_type":"box","text":"Scheme have not changed since the date hereof.","page_number":3,"box":{"x":62,"y":800,"width":364,"height":11}},{"id":"eaf34d89-f4fc-4266-ad38-7e60b1fe19a0","block_type":"box","text":"This Prospectus does not constitute an offer or","page_number":3,"box":{"x":62,"y":819,"width":400,"height":12}},{"id":"8525e242-b785-44ff-9798-fbdcea920617","block_type":"box","text":"solicitation by anyone in any jurisdiction in which an","page_number":3,"box":{"x":62,"y":833,"width":399,"height":11}},{"id":"95a03a65-8c2c-4831-a0e2-aa982b4297c9","block_type":"box","text":"offer or solicitation is not lawful or in which the person","page_number":3,"box":{"x":62,"y":847,"width":399,"height":11}},{"id":"69729a7a-73c9-4c0e-895f-8be8abb31c3d","block_type":"box","text":"making such an offer or solicitation is not qualified to","page_number":3,"box":{"x":62,"y":860,"width":399,"height":12}},{"id":"a2cf2849-a0e7-4d33-9903-0f6d10fcf361","block_type":"box","text":"do so or to anyone to whom it is unlawful to make such","page_number":3,"box":{"x":62,"y":874,"width":399,"height":11}},{"id":"6ca8e1d5-f082-4db1-ba46-3f2c8037e93b","block_type":"box","text":"a solicitation. It is the responsibility of any persons in","page_number":3,"box":{"x":62,"y":888,"width":399,"height":11}},{"id":"f6557e13-8553-46cd-a60e-a8cd93348d94","block_type":"box","text":"possession of this Prospectus and any persons","page_number":3,"box":{"x":62,"y":901,"width":399,"height":12}},{"id":"525ea669-836e-4781-ab5b-68367c88e59d","block_type":"box","text":"wishing to apply for Units in the Sub-Funds of the","page_number":3,"box":{"x":62,"y":915,"width":399,"height":11}},{"id":"5d6705ce-cc9b-4ddf-8ab4-bd63cfa34440","block_type":"box","text":"Scheme to inform themselves of and to observe all","page_number":3,"box":{"x":523,"y":46,"width":399,"height":9}},{"id":"0edaaa9d-26d6-415d-91dc-d0ecd2f1a41d","block_type":"box","text":"applicable laws and regulations of any relevant","page_number":3,"box":{"x":523,"y":59,"width":400,"height":12}},{"id":"55265309-2309-49ca-b32c-385c5331b018","block_type":"box","text":"jurisdiction. Prospective Unitholders should inform","page_number":3,"box":{"x":522,"y":73,"width":400,"height":11}},{"id":"34ed3ba3-f7b4-417c-9c7d-5f9e874fe9f6","block_type":"box","text":"themselves as to the legal requirements of applying for","page_number":3,"box":{"x":523,"y":87,"width":400,"height":11}},{"id":"b43ab6c5-9ce2-42de-b53f-4d9ecd137348","block_type":"box","text":"Units and any applicable exchange control regulations","page_number":3,"box":{"x":524,"y":100,"width":398,"height":12}},{"id":"2f1de7f2-37eb-4580-8df3-975e8353727b","block_type":"box","text":"and taxes in the countries of their respective","page_number":3,"box":{"x":523,"y":114,"width":400,"height":11}},{"id":"09c284a1-3991-4bc9-8e41-4d1fa9d80946","block_type":"box","text":"citizenship, residence, domicile or incorporation.","page_number":3,"box":{"x":523,"y":128,"width":356,"height":11}},{"id":"91295390-dce7-496f-a278-05146b95df1b","block_type":"box","text":"The ACS Manager does not benefit from any","page_number":3,"box":{"x":523,"y":147,"width":400,"height":11}},{"id":"7faf091f-18bd-4fb2-98ad-ff4bd43b6698","block_type":"box","text":"passports that would enable it to market the Scheme","page_number":3,"box":{"x":524,"y":161,"width":399,"height":11}},{"id":"e6aec2fc-a833-4734-bed1-6d4260fc228d","block_type":"box","text":"in the EEA and, accordingly, Units may not be","page_number":3,"box":{"x":524,"y":175,"width":399,"height":11}},{"id":"e2d3ce5e-486a-4d40-aabe-4cc6bb384380","block_type":"box","text":"marketed to EEA domiciled Professional Investors in","page_number":3,"box":{"x":524,"y":188,"width":398,"height":9}},{"id":"cad2eba3-494b-4e38-931c-843dd38bac0d","block_type":"box","text":"any EEA territory.","page_number":3,"box":{"x":523,"y":202,"width":130,"height":11}},{"id":"bad3e595-bba1-4f57-b0af-e63b5dd0cb21","block_type":"box","text":"US Persons are not permitted to subscribe for Units in","page_number":3,"box":{"x":524,"y":221,"width":398,"height":12}},{"id":"a59385e4-d198-4d2d-b035-215cace7d169","block_type":"box","text":"the Sub-Funds of the Scheme. The Units in the Sub","page_number":3,"box":{"x":523,"y":235,"width":399,"height":9}},{"id":"a990ac93-6fda-419b-8a3d-fcb28adc60ba","block_type":"box","text":"Funds have not and will not be registered under the","page_number":3,"box":{"x":524,"y":249,"width":399,"height":11}},{"id":"e0334317-41fb-4900-ba4f-8d174088376b","block_type":"box","text":"United States Securities Act 1933, the United States","page_number":3,"box":{"x":524,"y":262,"width":399,"height":11}},{"id":"eb49d487-e7c1-4f95-a93c-bba160e66b5e","block_type":"box","text":"Investment Company Act 1940, or the securities laws","page_number":3,"box":{"x":524,"y":276,"width":399,"height":11}},{"id":"14af5a82-30fb-493d-abb4-5aa0d5494e6d","block_type":"box","text":"of any of the States of the United States of America","page_number":3,"box":{"x":523,"y":290,"width":400,"height":11}},{"id":"e9d1ccb4-c467-4767-850e-1e3f2af4ba6c","block_type":"box","text":"and may not be directly or indirectly offered or sold in","page_number":3,"box":{"x":523,"y":303,"width":399,"height":12}},{"id":"01b27f0b-35fa-45ab-b6e8-f7932104738f","block_type":"box","text":"the United States of America or for the account or","page_number":3,"box":{"x":523,"y":317,"width":400,"height":9}},{"id":"3577ce7a-fb2c-430f-9a34-40735ffec5a4","block_type":"box","text":"benefit of any US Person, except pursuant to an","page_number":3,"box":{"x":524,"y":331,"width":398,"height":11}},{"id":"e8e074bf-0cb8-44ab-8885-0ad9122b210b","block_type":"box","text":"exemption from, or in a transaction not subject to, the","page_number":3,"box":{"x":523,"y":344,"width":400,"height":12}},{"id":"c2cc724b-fe5f-493a-b1fe-7d834da76062","block_type":"box","text":"registration requirements of the United States","page_number":3,"box":{"x":524,"y":358,"width":399,"height":11}},{"id":"e3ee9d2b-32f5-4d51-8e37-4f4f13e244fc","block_type":"box","text":"Securities Act 1933, United States Investment","page_number":3,"box":{"x":523,"y":372,"width":400,"height":10}},{"id":"1746e1e1-3a8a-4b25-8506-fb1312341c2d","block_type":"box","text":"Company Act 1940 and similar requirements of such","page_number":3,"box":{"x":523,"y":385,"width":399,"height":12}},{"id":"f8d5020d-427b-4b33-beb2-cdd10f893d8b","block_type":"box","text":"state securities law.","page_number":3,"box":{"x":523,"y":399,"width":145,"height":9}},{"id":"5cb2b45d-0546-4520-8537-17987f922c08","block_type":"box","text":"Notwithstanding the above, all Unitholders must meet","page_number":3,"box":{"x":524,"y":419,"width":399,"height":11}},{"id":"4125264d-ca0c-4909-a83a-8825c62dd017","block_type":"box","text":"the eligibility criteria set out in this Prospectus and the","page_number":3,"box":{"x":523,"y":432,"width":400,"height":11}},{"id":"5ca7c9eb-e6e9-42f3-8063-7eec1adf38ce","block_type":"box","text":"ACS Deed. In particular, all Unitholders must:","page_number":3,"box":{"x":523,"y":446,"width":336,"height":11}},{"id":"facdde38-7934-4b13-9eec-833db0279a58","block_type":"box","text":"(i) be eligible to invest in an authorised contractual","page_number":3,"box":{"x":524,"y":466,"width":398,"height":11}},{"id":"fa5bbe23-8e12-4b58-a423-fed28b9b7181","block_type":"box","text":"scheme (see section 36(i) below);","page_number":3,"box":{"x":571,"y":479,"width":249,"height":11}},{"id":"a594f976-085d-4ef8-87fe-fdf458a51d57","block_type":"box","text":"(ii) be a Professional Investor or an Eligible","page_number":3,"box":{"x":524,"y":499,"width":399,"height":11}},{"id":"3d2a1b52-3ab3-4df0-8212-445f14cef88e","block_type":"box","text":"Counterparty.","page_number":3,"box":{"x":571,"y":512,"width":99,"height":12}},{"id":"bcc2263c-6845-452f-9db3-21d5eefed2bd","block_type":"box","text":"(iii) meet the tax criteria for investment in the","page_number":3,"box":{"x":524,"y":532,"width":399,"height":11}},{"id":"3867a4cf-45bc-4c64-a469-505900eb06c8","block_type":"box","text":"relevant Unit Class (as set out in Appendix 1).","page_number":3,"box":{"x":572,"y":546,"width":337,"height":11}},{"id":"393f2b2f-f1c5-4dfe-b29c-3346e6f39677","block_type":"box","text":"All dealing, correspondence and communication in","page_number":3,"box":{"x":523,"y":565,"width":399,"height":11}},{"id":"24d84634-67bf-44c7-ac86-fe90fbf493d2","block_type":"box","text":"relation to this Prospectus with investors shall take","page_number":3,"box":{"x":524,"y":579,"width":399,"height":11}},{"id":"53d516be-745d-4929-8952-d2b7a01e7c01","block_type":"box","text":"place in English.","page_number":3,"box":{"x":524,"y":593,"width":119,"height":11}},{"id":"1c136215-62a6-4a1d-ac86-11df7e5bfd28","block_type":"box","text":"3. Glossary","page_number":3,"box":{"x":535,"y":618,"width":119,"height":11}},{"id":"6a42aed9-f74e-4706-a4b0-6318dceeaced","block_type":"box","text":"Accumulation","page_number":3,"box":{"x":532,"y":638,"width":99,"height":9}},{"id":"77ef59c6-cb8c-4976-b642-9caabd9e96c1","block_type":"box","text":"Units","page_number":3,"box":{"x":533,"y":652,"width":36,"height":8}},{"id":"d649ec6a-fdf8-4b9a-9a12-ded38e451dc7","block_type":"box","text":"Means Units (of whatever class)","page_number":3,"box":{"x":652,"y":638,"width":237,"height":11}},{"id":"a5225427-2a54-49d2-b798-343b5eb569ee","block_type":"box","text":"issued from time to time in respect of a","page_number":3,"box":{"x":652,"y":651,"width":287,"height":12}},{"id":"ff004da6-d416-4f2e-b1b6-6caabea4134a","block_type":"box","text":"Sub-Fund and in respect of which","page_number":3,"box":{"x":652,"y":665,"width":248,"height":11}},{"id":"b6e37ae2-037f-4669-90c6-5aa0a00212b7","block_type":"box","text":"income allocated thereto is credited","page_number":3,"box":{"x":652,"y":679,"width":262,"height":8}},{"id":"449711e2-1bdd-4b2e-8ed9-d9d60ea65211","block_type":"box","text":"periodically to capital pursuant to the","page_number":3,"box":{"x":652,"y":692,"width":271,"height":12}},{"id":"a5ec292b-a297-44af-9cc4-45ad91586265","block_type":"box","text":"COLL Sourcebook and the ACS Deed.","page_number":3,"box":{"x":652,"y":706,"width":285,"height":9}},{"id":"21ad0856-3f67-4ae0-aabc-97c917f2ef7b","block_type":"box","text":"ACS Deed","page_number":3,"box":{"x":532,"y":726,"width":78,"height":9}},{"id":"f80b46df-2b2f-43ed-8c85-81a2d24effb0","block_type":"box","text":"The instrument constituting the","page_number":3,"box":{"x":651,"y":726,"width":229,"height":11}},{"id":"1982c0af-5faa-4547-b135-3c85c6b304d9","block_type":"box","text":"Scheme, as such instrument may be","page_number":3,"box":{"x":652,"y":739,"width":270,"height":11}},{"id":"c6b9bf89-0d41-489d-8ddc-57fdc2980d9f","block_type":"box","text":"amended, novated, supplemented","page_number":3,"box":{"x":651,"y":753,"width":253,"height":11}},{"id":"54ff09cd-8923-4d30-b6e7-632da6d419bd","block_type":"box","text":"and/or restated from time to time.","page_number":3,"box":{"x":651,"y":767,"width":246,"height":8}},{"id":"9fb6e1e3-adb0-4c06-95f3-c87c2b3a8588","block_type":"box","text":"ACS","page_number":3,"box":{"x":532,"y":792,"width":33,"height":9}},{"id":"f5042416-d8a5-415e-980b-c173c3a04a90","block_type":"box","text":"Manager","page_number":3,"box":{"x":533,"y":806,"width":65,"height":11}},{"id":"b5ae723e-fbe4-443f-9748-14f40b812e4f","block_type":"box","text":"Aviva Investors UK Fund Services","page_number":3,"box":{"x":651,"y":792,"width":253,"height":9}},{"id":"050ebd2a-c3f6-434e-831c-d73cd5e49a13","block_type":"box","text":"Limited, the manager appointed under","page_number":3,"box":{"x":652,"y":806,"width":283,"height":11}},{"id":"21fff472-3cda-4625-a358-fae26d4548f6","block_type":"box","text":"the terms of the ACS Deed and its","page_number":3,"box":{"x":651,"y":819,"width":254,"height":9}},{"id":"434d7109-f5e4-4425-a92b-4c414f0cb067","block_type":"box","text":"successors as ACS Manager.","page_number":3,"box":{"x":651,"y":833,"width":220,"height":11}},{"id":"30133b96-db2e-499e-9130-60028794669c","block_type":"box","text":"Administrator","page_number":3,"box":{"x":532,"y":859,"width":98,"height":8}},{"id":"6e89ccb0-03c0-4159-b454-67011ada3d3c","block_type":"box","text":"The Bank of New York Mellon","page_number":3,"box":{"x":651,"y":855,"width":221,"height":9}},{"id":"033ab990-bb60-4e3c-b8a2-b9b733b91b99","block_type":"box","text":"(International) Limited of 160 Queen","page_number":3,"box":{"x":652,"y":869,"width":267,"height":11}},{"id":"994fe396-3ba3-4616-a2e6-184d22212f48","block_type":"box","text":"Victoria Street, London, England,","page_number":3,"box":{"x":651,"y":882,"width":245,"height":12}},{"id":"df01fe42-a15f-461d-946e-106160d2aea8","block_type":"box","text":"EC4V 4LA.","page_number":3,"box":{"x":652,"y":896,"width":80,"height":9}},{"id":"b386a31f-844f-4565-ad7f-651a574049c2","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 4","page_number":4,"box":{"x":62,"y":929,"width":316,"height":8}},{"id":"1afd2808-b450-4b3e-a28b-16bc34374cc9","block_type":"box","text":"AIFMD","page_number":4,"box":{"x":71,"y":52,"width":51,"height":8}},{"id":"f5e254e3-366d-4d7d-9850-62d5476bfdf8","block_type":"box","text":"Directive 2011/61/EU of the European","page_number":4,"box":{"x":191,"y":48,"width":280,"height":11}},{"id":"90728bca-33e3-415f-8bbf-be5f20f417e0","block_type":"box","text":"Parliament and of the Council of 8","page_number":4,"box":{"x":191,"y":62,"width":251,"height":9}},{"id":"17d94111-67c9-4c2f-b342-060cedcfa8a4","block_type":"box","text":"June 2011 on Alternative Investment","page_number":4,"box":{"x":190,"y":76,"width":272,"height":8}},{"id":"5d63c209-f60d-4be6-9333-c61e782cc13c","block_type":"box","text":"Fund Managers and amending","page_number":4,"box":{"x":191,"y":89,"width":226,"height":11}},{"id":"0a818533-2080-47e4-92e0-390d399a863f","block_type":"box","text":"Directives 2003/41/EC and","page_number":4,"box":{"x":191,"y":103,"width":197,"height":9}},{"id":"c27426b2-c324-4b3b-9060-51e7401ec7db","block_type":"box","text":"2009/65/EC and Regulations (EC) No","page_number":4,"box":{"x":190,"y":116,"width":279,"height":12}},{"id":"57b93a9c-18d3-4887-9bec-589223f0e909","block_type":"box","text":"1060/2009 and (EU) No 1095/2010.","page_number":4,"box":{"x":191,"y":130,"width":263,"height":11}},{"id":"da1090f7-6fcb-48c7-8e17-2d6270ac0b5d","block_type":"box","text":"AIFMD Level","page_number":4,"box":{"x":71,"y":152,"width":95,"height":9}},{"id":"207dd13c-2a60-4afb-8ac7-d5236ff8e1e0","block_type":"box","text":"2 Regulation","page_number":4,"box":{"x":71,"y":166,"width":93,"height":11}},{"id":"2ec619c0-c639-4a11-84d9-2a485deba5a3","block_type":"box","text":"The UK version of Commission","page_number":4,"box":{"x":190,"y":148,"width":230,"height":9}},{"id":"c33589a6-32fa-4253-b71f-0fcfaee84b07","block_type":"box","text":"delegated regulation (EU) No","page_number":4,"box":{"x":190,"y":162,"width":217,"height":11}},{"id":"c8ec1657-f3dd-4248-bdf5-9393f33a2838","block_type":"box","text":"231/2013 supplementing Directive","page_number":4,"box":{"x":190,"y":176,"width":253,"height":11}},{"id":"ffb1375b-e41c-4e57-b752-c1cdac3a6ef0","block_type":"box","text":"2011/61/EU of the European","page_number":4,"box":{"x":190,"y":189,"width":211,"height":11}},{"id":"67daacd4-a330-4c16-a71b-e15148e918b4","block_type":"box","text":"Parliament and of the Council with","page_number":4,"box":{"x":191,"y":203,"width":252,"height":9}},{"id":"abbb8234-ff7d-4b46-8c40-b7b3672738f4","block_type":"box","text":"regard to exemptions, general","page_number":4,"box":{"x":191,"y":217,"width":221,"height":11}},{"id":"6c8072f8-97da-454d-9d0e-85518eab5cc8","block_type":"box","text":"operating conditions, depositaries,","page_number":4,"box":{"x":190,"y":231,"width":253,"height":11}},{"id":"cd6c7fa7-15b0-4a5e-b89b-ff4a5d65d1ac","block_type":"box","text":"leverage, transparency and","page_number":4,"box":{"x":191,"y":244,"width":201,"height":11}},{"id":"87872db0-8926-4841-a96c-68dcddb2c670","block_type":"box","text":"supervision, which is part of UK law by","page_number":4,"box":{"x":190,"y":258,"width":286,"height":11}},{"id":"1904c405-996a-4868-a43a-8d69ccab157b","block_type":"box","text":"virtue of the EUWA.","page_number":4,"box":{"x":190,"y":271,"width":146,"height":9}},{"id":"574c591d-b17a-4a41-a1ff-30f50d3ca70b","block_type":"box","text":"AIFM","page_number":4,"box":{"x":71,"y":293,"width":38,"height":9}},{"id":"eeb1844b-6921-4dc9-bd73-8ba716ba9d1e","block_type":"box","text":"Regulations","page_number":4,"box":{"x":72,"y":307,"width":86,"height":11}},{"id":"00eb3d3a-ba1e-4957-a673-933ce9aff296","block_type":"box","text":"The Alternative Investment Fund","page_number":4,"box":{"x":190,"y":290,"width":241,"height":9}},{"id":"c84d45a9-18c2-4b21-af24-7a37eaa4ab71","block_type":"box","text":"Managers Regulations 2013 as","page_number":4,"box":{"x":191,"y":304,"width":230,"height":11}},{"id":"98b07fe9-eaad-4190-a9ad-8843ff509598","block_type":"box","text":"amended or re-enacted from time to","page_number":4,"box":{"x":190,"y":317,"width":267,"height":9}},{"id":"09ff13f3-5f26-4cf1-8714-20ac2e83876a","block_type":"box","text":"time which implements AIFMD in the","page_number":4,"box":{"x":190,"y":331,"width":271,"height":11}},{"id":"586e87fc-cdfb-497f-b8ba-ec1bfb5f050e","block_type":"box","text":"UK.","page_number":4,"box":{"x":191,"y":345,"width":25,"height":8}},{"id":"fdec617b-bbfe-42af-a3f2-1b62e1dfd2bb","block_type":"box","text":"AIGSL","page_number":4,"box":{"x":71,"y":366,"width":49,"height":9}},{"id":"026f8819-667f-4649-9a21-0a3e074948fb","block_type":"box","text":"Aviva Investors Global Services","page_number":4,"box":{"x":190,"y":363,"width":235,"height":9}},{"id":"22d0e36e-18f2-456f-9439-56f57deabe8a","block_type":"box","text":"Limited.","page_number":4,"box":{"x":191,"y":377,"width":56,"height":8}},{"id":"4677274f-41d5-4236-90ee-dacdf6810101","block_type":"box","text":"Auditor","page_number":4,"box":{"x":71,"y":399,"width":52,"height":8}},{"id":"94221380-a50d-452c-a495-ddaa6bb78d75","block_type":"box","text":"The auditor of the Scheme from time","page_number":4,"box":{"x":190,"y":398,"width":271,"height":9}},{"id":"29f3dfc9-4e00-43fd-8c6b-9bf1c40120fa","block_type":"box","text":"to time, as at the date of this","page_number":4,"box":{"x":190,"y":412,"width":210,"height":11}},{"id":"42158975-cc78-4e69-ba8e-60b577741947","block_type":"box","text":"Prospectus being Ernst & Young LLP,","page_number":4,"box":{"x":191,"y":426,"width":279,"height":11}},{"id":"f6df1c82-f1cd-4a27-8e96-52e2237fc57d","block_type":"box","text":"of 25 Churchill Place, London, E14","page_number":4,"box":{"x":190,"y":439,"width":258,"height":11}},{"id":"53a5794f-a28a-479b-abc6-ce5b5a129b44","block_type":"box","text":"5EY.","page_number":4,"box":{"x":190,"y":453,"width":34,"height":9}},{"id":"570f1ad7-16f2-43db-9df5-fc53dfd3a422","block_type":"box","text":"AUM","page_number":4,"box":{"x":71,"y":479,"width":35,"height":9}},{"id":"1552d272-3369-4a69-b5e9-fdd302f404ea","block_type":"box","text":"Assets under management.","page_number":4,"box":{"x":190,"y":479,"width":203,"height":11}},{"id":"48711240-fe56-41c9-8241-3ca3e014f7ad","block_type":"box","text":"Aviva Group","page_number":4,"box":{"x":71,"y":510,"width":91,"height":12}},{"id":"dcc0b3ad-e15f-470c-bbc4-858455391053","block_type":"box","text":"The Aviva group of companies, the","page_number":4,"box":{"x":190,"y":510,"width":258,"height":12}},{"id":"e24e21b9-c672-4385-a594-b929e4abfc35","block_type":"box","text":"ultimate holding company of which is","page_number":4,"box":{"x":191,"y":524,"width":271,"height":11}},{"id":"fc0e69ff-a451-4663-82c1-1cfeac0a53d4","block_type":"box","text":"Aviva plc.","page_number":4,"box":{"x":190,"y":538,"width":70,"height":11}},{"id":"77e6cf54-2a7b-4e3f-9404-d2fb5060d97a","block_type":"box","text":"Base","page_number":4,"box":{"x":72,"y":563,"width":36,"height":9}},{"id":"68e62bda-88a1-479d-bcb1-124097019ae3","block_type":"box","text":"Currency","page_number":4,"box":{"x":71,"y":577,"width":67,"height":11}},{"id":"d1c3ae11-763c-4b60-8a00-df09f3d782b2","block_type":"box","text":"The base currency of a Sub-Fund.","page_number":4,"box":{"x":190,"y":563,"width":253,"height":12}},{"id":"2943d1dd-218b-44b2-b3a8-64e4311b3b77","block_type":"box","text":"Benchmark","page_number":4,"box":{"x":72,"y":603,"width":83,"height":8}},{"id":"dba69026-3120-4906-a02e-ba76d03b2a8e","block_type":"box","text":"Regulation","page_number":4,"box":{"x":72,"y":616,"width":77,"height":11}},{"id":"0732a5b2-67ed-4b96-9907-6a677d830582","block_type":"box","text":"The UK version of Regulation (EU)","page_number":4,"box":{"x":190,"y":602,"width":257,"height":12}},{"id":"9b949d1b-ceda-480b-862f-b6aace0ab978","block_type":"box","text":"No. 2016/1011 of the European","page_number":4,"box":{"x":191,"y":616,"width":232,"height":11}},{"id":"37b2f24f-4f00-45b1-a378-fbceab316ee7","block_type":"box","text":"Parliament and of the Council of 8","page_number":4,"box":{"x":191,"y":630,"width":251,"height":9}},{"id":"1312b317-ebd6-465c-ae4a-ad08ad3e061f","block_type":"box","text":"June 2016 on indices used as","page_number":4,"box":{"x":190,"y":644,"width":221,"height":8}},{"id":"57c1c97e-c15f-405b-a308-fb3cea0d6e59","block_type":"box","text":"benchmarks in financial instruments","page_number":4,"box":{"x":191,"y":657,"width":265,"height":9}},{"id":"86dc17ff-69b1-41a0-bfcc-6d19ada82226","block_type":"box","text":"and financial contracts or to measure","page_number":4,"box":{"x":190,"y":671,"width":274,"height":9}},{"id":"0c141788-2388-4f38-a724-a04b7214d2c3","block_type":"box","text":"the performance of investment funds","page_number":4,"box":{"x":190,"y":685,"width":271,"height":11}},{"id":"c30de87a-f924-495c-98b8-230ac13e6228","block_type":"box","text":"and amending Directives 2008/48/EC","page_number":4,"box":{"x":190,"y":698,"width":277,"height":11}},{"id":"3b843825-965f-4330-8468-22a81696d4ee","block_type":"box","text":"and 2014/17/EU and Regulation (EU)","page_number":4,"box":{"x":190,"y":712,"width":276,"height":11}},{"id":"9029129c-cce4-42a5-87e1-bcb793c41881","block_type":"box","text":"No 596/2014, which is part of UK law","page_number":4,"box":{"x":191,"y":725,"width":274,"height":11}},{"id":"20ee8208-94d6-4f6c-b2e3-3453503d1f8b","block_type":"box","text":"by virtue of the EUWA.","page_number":4,"box":{"x":191,"y":739,"width":167,"height":11}},{"id":"e6a29a3c-5e45-4b1b-bfa6-77fee8895da9","block_type":"box","text":"Business","page_number":4,"box":{"x":72,"y":765,"width":66,"height":8}},{"id":"0ba6255e-d75c-42df-bbb9-79e6aa65ec39","block_type":"box","text":"Day","page_number":4,"box":{"x":72,"y":778,"width":28,"height":11}},{"id":"3f0f36d4-3b60-4e45-ad42-58b43bd38759","block_type":"box","text":"A day which is not a Saturday or","page_number":4,"box":{"x":190,"y":765,"width":240,"height":11}},{"id":"f9ddd5c8-6386-4370-b6da-7f67f4a3ff1d","block_type":"box","text":"Sunday, or any other day recognised","page_number":4,"box":{"x":190,"y":778,"width":273,"height":12}},{"id":"7fcd9a6d-2672-45cb-a9cd-9d994928048f","block_type":"box","text":"in England and Wales as a public","page_number":4,"box":{"x":191,"y":792,"width":247,"height":11}},{"id":"82db7d23-5531-4c90-a2b4-d7992228017b","block_type":"box","text":"holiday or any other day on which","page_number":4,"box":{"x":191,"y":806,"width":248,"height":11}},{"id":"3ec55e2e-05c2-4d23-b5d3-6f9eb59bf2d8","block_type":"box","text":"banks or the London Stock Exchange","page_number":4,"box":{"x":191,"y":819,"width":277,"height":11}},{"id":"ffca5a51-d639-492e-a6a7-fc00c79910e2","block_type":"box","text":"are not open for normal business in","page_number":4,"box":{"x":190,"y":833,"width":262,"height":11}},{"id":"ab3a3fd1-c91b-4578-8332-468263e61ed0","block_type":"box","text":"the UK. In addition, where a Sub-Fund","page_number":4,"box":{"x":190,"y":846,"width":284,"height":11}},{"id":"0238342d-c5eb-4440-8a35-68283a95368f","block_type":"box","text":"of the Scheme invests outside the UK,","page_number":4,"box":{"x":190,"y":860,"width":283,"height":11}},{"id":"6b4768f7-615c-4ef4-9974-ef2c16e401a1","block_type":"box","text":"the ACS Manager may also take into","page_number":4,"box":{"x":190,"y":874,"width":272,"height":11}},{"id":"cff92cff-5ddf-49da-9dc9-1d922e809659","block_type":"box","text":"account whether relevant local","page_number":4,"box":{"x":190,"y":888,"width":225,"height":8}},{"id":"3cfbcd30-d400-47ce-b957-f0c2d2cd94da","block_type":"box","text":"exchanges are open, and may elect to","page_number":4,"box":{"x":190,"y":901,"width":284,"height":11}},{"id":"9d9ef1f0-b209-4fb1-ad64-5d08a44f7918","block_type":"box","text":"treat such closures as non-business","page_number":4,"box":{"x":190,"y":915,"width":267,"height":9}},{"id":"3ca5e20f-70bf-445c-912e-cf781d03831f","block_type":"box","text":"days. Where possible, Unitholders will","page_number":4,"box":{"x":651,"y":46,"width":281,"height":11}},{"id":"e6cf6d8d-c16a-42ec-8036-bc2d5363a10a","block_type":"box","text":"be notified in advance of such cases.","page_number":4,"box":{"x":652,"y":59,"width":273,"height":9}},{"id":"5b82861d-fd1a-45f8-a31a-672223de1558","block_type":"box","text":"CCP","page_number":4,"box":{"x":532,"y":85,"width":34,"height":9}},{"id":"21225157-4cd9-48a2-a54f-ad711e952895","block_type":"box","text":"has the meaning ascribed to it in the","page_number":4,"box":{"x":652,"y":85,"width":268,"height":11}},{"id":"b4775d4f-c109-4bbf-a60e-980e6dc9823d","block_type":"box","text":"glossary of definitions to the FCA","page_number":4,"box":{"x":652,"y":99,"width":245,"height":11}},{"id":"a6bb9b4a-08ae-4421-ae84-2f93acc4afb7","block_type":"box","text":"Handbook.","page_number":4,"box":{"x":652,"y":112,"width":78,"height":9}},{"id":"a74b7246-ee97-4d0c-8946-da501272a6bf","block_type":"box","text":"COLL","page_number":4,"box":{"x":532,"y":138,"width":43,"height":9}},{"id":"898866dd-3a82-4079-a3a4-dab94e1b0970","block_type":"box","text":"Sourcebook","page_number":4,"box":{"x":533,"y":151,"width":88,"height":9}},{"id":"8640c518-916b-4aa8-8adf-776a3a813f3a","block_type":"box","text":"The Collective Investment Schemes","page_number":4,"box":{"x":651,"y":138,"width":267,"height":9}},{"id":"f36c87e0-13e5-49d0-94bb-df3a8f07c9bd","block_type":"box","text":"sourcebook which forms part of the","page_number":4,"box":{"x":651,"y":152,"width":260,"height":11}},{"id":"fd38d098-1445-4185-93cf-ccb45bcec801","block_type":"box","text":"FCA Handbook, as amended from","page_number":4,"box":{"x":652,"y":165,"width":253,"height":10}},{"id":"886cc930-e36a-40e3-9764-da77d4e32795","block_type":"box","text":"time to time. References to rules or","page_number":4,"box":{"x":651,"y":179,"width":261,"height":9}},{"id":"a7d91b35-a6ef-488f-938c-e25875e33a55","block_type":"box","text":"guidance in the COLL Sourcebook are","page_number":4,"box":{"x":652,"y":192,"width":284,"height":12}},{"id":"11c9e761-335b-4198-9dd1-18677ba99f6d","block_type":"box","text":"prefaced by \"COLL\".","page_number":4,"box":{"x":652,"y":206,"width":150,"height":11}},{"id":"356a05e3-9369-451a-af82-4fd94091fcb8","block_type":"box","text":"Co","page_number":4,"box":{"x":532,"y":231,"width":26,"height":9}},{"id":"c340b518-bdba-4d5d-8b08-968a7d4eba07","block_type":"box","text":"Ownership","page_number":4,"box":{"x":532,"y":245,"width":79,"height":11}},{"id":"405707c7-22f1-4cb3-85bd-ecb3b8536c2f","block_type":"box","text":"Scheme","page_number":4,"box":{"x":533,"y":259,"width":60,"height":9}},{"id":"79f2b0ee-c632-4c99-b29f-c391f07b7e17","block_type":"box","text":"A scheme as defined by section 235A","page_number":4,"box":{"x":651,"y":231,"width":281,"height":12}},{"id":"9328e326-7bb2-437f-bf11-7985a730af84","block_type":"box","text":"of the Financial Services and Markets","page_number":4,"box":{"x":651,"y":245,"width":279,"height":9}},{"id":"4f4ac3e9-3529-4544-99c1-69894d483a72","block_type":"box","text":"Act 2000, as amended from time to","page_number":4,"box":{"x":651,"y":259,"width":261,"height":10}},{"id":"2a2c86b7-bf6f-446d-a7a3-b39ecb7417b8","block_type":"box","text":"time.","page_number":4,"box":{"x":651,"y":273,"width":35,"height":8}},{"id":"77cdb139-9598-4dc8-9cd2-c7cfd7300976","block_type":"box","text":"Core Funds","page_number":4,"box":{"x":532,"y":298,"width":87,"height":9}},{"id":"02df03be-e7d1-4c25-8343-e27a413cb328","block_type":"box","text":"The Aviva Investors UK Equity Core","page_number":4,"box":{"x":651,"y":298,"width":267,"height":11}},{"id":"9cf57c7f-85b7-42d6-9511-01eb294fab2d","block_type":"box","text":"Fund, Aviva Investors Europe Equity","page_number":4,"box":{"x":652,"y":312,"width":270,"height":11}},{"id":"b75b0110-8bf8-4794-b52c-579309d18a7e","block_type":"box","text":"Ex UK Core Fund, Aviva Investors","page_number":4,"box":{"x":652,"y":325,"width":253,"height":11}},{"id":"6d1ae5fb-300c-4c1f-afe2-805268756957","block_type":"box","text":"Japan Equity Core Fund, Aviva","page_number":4,"box":{"x":651,"y":339,"width":231,"height":11}},{"id":"d0894a58-71ca-4d72-9dcd-b1b50f9c9526","block_type":"box","text":"Investors Pacific Equity Ex Japan","page_number":4,"box":{"x":652,"y":353,"width":246,"height":11}},{"id":"bfdbd49b-f9e6-4e2d-b84b-fec4eb44b0e4","block_type":"box","text":"Core Fund, Aviva Investors North","page_number":4,"box":{"x":652,"y":366,"width":246,"height":11}},{"id":"4ae6308e-2ea2-490a-938e-c23d3544ba37","block_type":"box","text":"American Equity Core Fund and Aviva","page_number":4,"box":{"x":651,"y":380,"width":284,"height":11}},{"id":"280d151b-5337-46ac-9ef2-8cd3cb226219","block_type":"box","text":"Investors Emerging Market Equity","page_number":4,"box":{"x":652,"y":394,"width":251,"height":11}},{"id":"84d631ad-06cd-4047-9071-7b8273dde139","block_type":"box","text":"Core Fund.","page_number":4,"box":{"x":652,"y":407,"width":81,"height":9}},{"id":"752936cc-5629-434a-b2cb-95f8332d73e1","block_type":"box","text":"Deal Cut-Off","page_number":4,"box":{"x":533,"y":433,"width":92,"height":9}},{"id":"d8828b0c-ce80-4ee4-8857-4e5fe9c88809","block_type":"box","text":"Point","page_number":4,"box":{"x":533,"y":447,"width":36,"height":8}},{"id":"7b5dd6c6-3ca8-426e-b140-aa5c3bac4140","block_type":"box","text":"The time by which a subscription or","page_number":4,"box":{"x":651,"y":433,"width":263,"height":11}},{"id":"1b3bfa1c-751a-43bb-92cd-6e7986f2e18c","block_type":"box","text":"redemption request must be received","page_number":4,"box":{"x":652,"y":447,"width":275,"height":11}},{"id":"5479e978-d8fa-4a55-b849-f8b7138e00bc","block_type":"box","text":"in order for the subscription or","page_number":4,"box":{"x":652,"y":460,"width":222,"height":11}},{"id":"9d8ceeb9-eccf-4e65-aae5-9f622d9ff50c","block_type":"box","text":"redemption to occur at the Valuation","page_number":4,"box":{"x":652,"y":474,"width":268,"height":11}},{"id":"01382d9f-4b0d-4913-9ad2-8793450b7256","block_type":"box","text":"Point for that Dealing Day. The Deal","page_number":4,"box":{"x":652,"y":488,"width":267,"height":11}},{"id":"6a448086-f220-472d-a79f-957c5aa5e802","block_type":"box","text":"Cut-Off Point for each Sub-Fund is set","page_number":4,"box":{"x":652,"y":501,"width":283,"height":9}},{"id":"4e250485-e8bc-47a7-a9dc-3d6727c6088c","block_type":"box","text":"out in Appendix 1.","page_number":4,"box":{"x":651,"y":515,"width":133,"height":11}},{"id":"43773375-abc0-4119-bccc-551fb99962e6","block_type":"box","text":"Dealing Day","page_number":4,"box":{"x":533,"y":541,"width":90,"height":11}},{"id":"0c14602c-cecc-4cfc-8b77-0d09c65d3747","block_type":"box","text":"A day on which a Sub-Fund processes","page_number":4,"box":{"x":651,"y":540,"width":287,"height":11}},{"id":"091fe96f-b135-46dc-81a7-bb4db89ccb92","block_type":"box","text":"orders in its Units. The Dealing Day for","page_number":4,"box":{"x":651,"y":554,"width":288,"height":11}},{"id":"554ae122-d4ee-4d79-83bd-648f1dfcca8f","block_type":"box","text":"each Sub-Fund is set out in Appendix","page_number":4,"box":{"x":652,"y":568,"width":278,"height":11}},{"id":"501dca89-e3e4-403f-8219-d88742219a83","block_type":"box","text":"1.","page_number":4,"box":{"x":653,"y":582,"width":10,"height":8}},{"id":"72315cc6-7297-43da-a423-4f0dfb0f1c34","block_type":"box","text":"Depositary","page_number":4,"box":{"x":533,"y":607,"width":79,"height":11}},{"id":"b8c76557-e8a3-4f6a-b156-ede3af652e46","block_type":"box","text":"The Bank of New York Mellon","page_number":4,"box":{"x":651,"y":607,"width":221,"height":9}},{"id":"5f574b7c-e65f-4616-a959-78a780bb549e","block_type":"box","text":"(International) Limited , to whom the","page_number":4,"box":{"x":652,"y":620,"width":266,"height":12}},{"id":"f8d0acfe-9239-4d5f-be1d-548664eefb4f","block_type":"box","text":"Scheme property is entrusted for","page_number":4,"box":{"x":652,"y":634,"width":242,"height":11}},{"id":"5bbc8005-1182-4ecc-b523-cc6917f0db20","block_type":"box","text":"safekeeping and who is appointed to","page_number":4,"box":{"x":651,"y":648,"width":272,"height":11}},{"id":"337f68c2-5498-4736-bae3-f33be164f1ec","block_type":"box","text":"act as the Depositary of the Scheme","page_number":4,"box":{"x":651,"y":661,"width":270,"height":12}},{"id":"1c081763-595c-4d38-aa28-e77e0989f203","block_type":"box","text":"and its successors as Depositary.","page_number":4,"box":{"x":651,"y":675,"width":249,"height":11}},{"id":"704290ec-8648-4d3d-81ee-9ba050058f6c","block_type":"box","text":"Depositary","page_number":4,"box":{"x":533,"y":701,"width":79,"height":11}},{"id":"5150aab5-8606-4ace-af4f-9e18c1da0ee6","block_type":"box","text":"Services","page_number":4,"box":{"x":533,"y":714,"width":62,"height":9}},{"id":"d233ed65-fe7d-447f-a929-d2b3601655f4","block_type":"box","text":"Agreement","page_number":4,"box":{"x":532,"y":728,"width":81,"height":11}},{"id":"5d19439e-eca9-4cd2-90f3-13eb760497ce","block_type":"box","text":"The depositary services agreement","page_number":4,"box":{"x":651,"y":701,"width":262,"height":11}},{"id":"a68a9fbb-03dd-4ef3-a57e-4d588de5f33e","block_type":"box","text":"between the ACS Manager and the","page_number":4,"box":{"x":652,"y":714,"width":261,"height":12}},{"id":"0c2429e0-1502-47f7-a9bb-593bc568fae9","block_type":"box","text":"Depositary, as amended, novated,","page_number":4,"box":{"x":652,"y":728,"width":253,"height":11}},{"id":"60867bbd-3e93-4f93-b975-d0ea0295374b","block_type":"box","text":"restated, supplemented and/or","page_number":4,"box":{"x":652,"y":742,"width":227,"height":11}},{"id":"76a02cbc-94b2-499d-89e0-3a424b2cc8f1","block_type":"box","text":"restated from time to time.","page_number":4,"box":{"x":652,"y":755,"width":192,"height":9}},{"id":"92c7faa8-03bb-426d-b392-e77681e7db29","block_type":"box","text":"EEA","page_number":4,"box":{"x":533,"y":781,"width":32,"height":8}},{"id":"51b95cf1-1cde-48e1-b828-daf7dce755c2","block_type":"box","text":"European Economic Area.","page_number":4,"box":{"x":652,"y":781,"width":193,"height":11}},{"id":"463c7197-43f8-42cd-9f52-77dfafa97622","block_type":"box","text":"EEA State","page_number":4,"box":{"x":533,"y":813,"width":75,"height":9}},{"id":"b7fbdd30-ada7-4ee0-98ee-620f5fee7cb1","block_type":"box","text":"A member state of the European","page_number":4,"box":{"x":651,"y":813,"width":241,"height":11}},{"id":"c65458f0-4121-46bf-b7e3-d22cce550e09","block_type":"box","text":"Union and any other state which is","page_number":4,"box":{"x":652,"y":827,"width":255,"height":11}},{"id":"4e6cdefb-e40b-41fc-bb29-7b8a51401feb","block_type":"box","text":"within the EEA, as defined in the","page_number":4,"box":{"x":651,"y":840,"width":241,"height":11}},{"id":"da4d0aaa-da1f-4086-aeb8-a0f503179681","block_type":"box","text":"glossary to the FCA Handbook.","page_number":4,"box":{"x":652,"y":854,"width":231,"height":11}},{"id":"5aaab389-347c-49f5-8dbe-bf46302477ba","block_type":"box","text":"Eligible","page_number":4,"box":{"x":533,"y":880,"width":52,"height":11}},{"id":"44720554-0726-49fb-b43a-0fc69e756f02","block_type":"box","text":"Counterparty","page_number":4,"box":{"x":532,"y":893,"width":96,"height":11}},{"id":"ec6c863a-4b3e-4766-973d-2e8abe31898a","block_type":"box","text":"An investor that is considered to be an","page_number":4,"box":{"x":651,"y":880,"width":284,"height":8}},{"id":"3f50df1c-34df-4f7d-a534-0696c715bbc7","block_type":"box","text":"eligible counterparty or that may, on","page_number":4,"box":{"x":652,"y":893,"width":265,"height":12}},{"id":"3001df82-827e-4aba-96c0-24d27da8781d","block_type":"box","text":"request, be treated as an eligible","page_number":4,"box":{"x":652,"y":907,"width":242,"height":11}},{"id":"035ae9c1-f3a0-40c9-bc32-078c08d56ecd","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 5","page_number":5,"box":{"x":62,"y":929,"width":316,"height":8}},{"id":"c6544397-3086-4288-9673-284040ed1a34","block_type":"box","text":"counterparty within the meaning of the","page_number":5,"box":{"x":190,"y":46,"width":284,"height":11}},{"id":"5d52ad22-e514-42eb-8a6b-45a90e6327e2","block_type":"box","text":"Financial Services and Markets Act","page_number":5,"box":{"x":191,"y":59,"width":261,"height":9}},{"id":"f11fabc5-69d4-447e-93e4-26943d4ec526","block_type":"box","text":"2000 (Markets in Financial","page_number":5,"box":{"x":190,"y":73,"width":195,"height":11}},{"id":"19dd924a-b475-4493-b16f-70bec726ebea","block_type":"box","text":"Instruments) Regulations 2017 (SI","page_number":5,"box":{"x":191,"y":87,"width":252,"height":11}},{"id":"02798111-b6d5-4aea-bcc7-4679ae7aade2","block_type":"box","text":"2017/701).","page_number":5,"box":{"x":190,"y":100,"width":78,"height":11}},{"id":"df0ae60f-fa35-4a4d-8384-f106d1db7a38","block_type":"box","text":"Eligible","page_number":5,"box":{"x":72,"y":126,"width":52,"height":11}},{"id":"4a8bba6d-4e1c-485d-963b-8493fbe0e1f3","block_type":"box","text":"Derivatives","page_number":5,"box":{"x":72,"y":140,"width":81,"height":8}},{"id":"b586e253-0475-4824-aaa7-627deb846f4c","block_type":"box","text":"Market","page_number":5,"box":{"x":72,"y":153,"width":49,"height":9}},{"id":"c21f3fbe-1514-4906-9648-870374462f9f","block_type":"box","text":"A derivatives market which is listed in","page_number":5,"box":{"x":190,"y":126,"width":277,"height":9}},{"id":"ecc2a603-7e36-48b1-b898-280a79ee39e1","block_type":"box","text":"Schedule 2.","page_number":5,"box":{"x":190,"y":139,"width":87,"height":9}},{"id":"b022cca9-cef4-4833-8494-d81f38bd913b","block_type":"box","text":"EMIR","page_number":5,"box":{"x":72,"y":179,"width":40,"height":8}},{"id":"39166507-5a03-4935-a0ac-80de49176380","block_type":"box","text":"The UK version of Regulation (EU) No","page_number":5,"box":{"x":190,"y":179,"width":284,"height":11}},{"id":"06d0335c-772b-4fcf-af1a-9eb808b7daab","block_type":"box","text":"648/2012 on OTC derivatives, central","page_number":5,"box":{"x":190,"y":192,"width":277,"height":11}},{"id":"36b76476-05b5-4c8a-887d-b59ff3bb197c","block_type":"box","text":"counterparties and trade repositories,","page_number":5,"box":{"x":190,"y":206,"width":276,"height":11}},{"id":"da046111-529b-4fe2-ab38-39a22971d763","block_type":"box","text":"which is part of UK law by virtue of","page_number":5,"box":{"x":190,"y":220,"width":256,"height":11}},{"id":"25a39f29-ddfd-4e8c-a1aa-caa704d36cd3","block_type":"box","text":"the EUWA, sometimes referred to as","page_number":5,"box":{"x":190,"y":233,"width":272,"height":11}},{"id":"aa42c1ca-ca45-4ffd-b7cd-043662372d95","block_type":"box","text":"the \"European Markets Infrastructure","page_number":5,"box":{"x":190,"y":247,"width":274,"height":11}},{"id":"01c93f15-67b2-4fa0-85d8-fe022c785ce6","block_type":"box","text":"Regulation\" as amended by","page_number":5,"box":{"x":191,"y":261,"width":204,"height":11}},{"id":"076697f8-ccff-4d66-a9fe-48b98bc7e14d","block_type":"box","text":"Regulation (EU) 2019/834 of the","page_number":5,"box":{"x":191,"y":274,"width":239,"height":12}},{"id":"8215910b-2a13-49a9-849b-1c020a1f9390","block_type":"box","text":"European Parliament and of the","page_number":5,"box":{"x":191,"y":288,"width":235,"height":11}},{"id":"1f4fe3db-9415-44bb-979a-2b628a0ac2ca","block_type":"box","text":"Council of 20 May 2019.","page_number":5,"box":{"x":190,"y":302,"width":179,"height":11}},{"id":"19b28dc4-c41b-4405-b7be-6bdea92defe8","block_type":"box","text":"EUWA","page_number":5,"box":{"x":72,"y":327,"width":49,"height":9}},{"id":"a42efccc-663b-418f-9c08-e35c7ecfa9b2","block_type":"box","text":"The European Union (Withdrawal) Act","page_number":5,"box":{"x":190,"y":327,"width":282,"height":11}},{"id":"2e667fc0-aa46-4240-95f8-f82e985f3122","block_type":"box","text":"2018.","page_number":5,"box":{"x":190,"y":341,"width":40,"height":9}},{"id":"06be7ce8-3ff0-4c66-86e3-e83b2207aae8","block_type":"box","text":"FCA","page_number":5,"box":{"x":72,"y":366,"width":32,"height":9}},{"id":"fb7bba99-b52e-4240-9577-58262320b1a5","block_type":"box","text":"The Financial Conduct Authority or","page_number":5,"box":{"x":190,"y":366,"width":258,"height":11}},{"id":"1ca3e451-b647-47c2-9e24-c98cea2660d1","block_type":"box","text":"any other relevant successor","page_number":5,"box":{"x":190,"y":380,"width":214,"height":11}},{"id":"81673b75-ac22-485a-a040-c2d89faf8fa6","block_type":"box","text":"regulatory body from time to time.","page_number":5,"box":{"x":191,"y":394,"width":247,"height":11}},{"id":"9f2ef47d-c15e-475f-bf78-c58806dd9ffe","block_type":"box","text":"FCA","page_number":5,"box":{"x":72,"y":419,"width":32,"height":9}},{"id":"7720d4b5-96de-4a5e-af40-7c26a6cc8471","block_type":"box","text":"Handbook","page_number":5,"box":{"x":72,"y":433,"width":75,"height":9}},{"id":"c08bf3b6-7875-4fa6-b873-4b275adb9d45","block_type":"box","text":"The FCA's handbook of rules and","page_number":5,"box":{"x":190,"y":419,"width":248,"height":9}},{"id":"20b39525-8a14-46c4-be7e-0e4c3af18209","block_type":"box","text":"guidance, as amended from time to","page_number":5,"box":{"x":190,"y":433,"width":262,"height":11}},{"id":"4c1fcf36-0ee9-44ea-9a1b-9aec17b8f68f","block_type":"box","text":"time.","page_number":5,"box":{"x":190,"y":447,"width":34,"height":8}},{"id":"e1c730a7-646a-47d5-b5b6-54830f92b23d","block_type":"box","text":"FIL","page_number":5,"box":{"x":72,"y":472,"width":22,"height":9}},{"id":"b0f808e5-bc96-41e9-80aa-de28435c1249","block_type":"box","text":"FIL Pensions Management.","page_number":5,"box":{"x":191,"y":472,"width":202,"height":11}},{"id":"0b151a31-3350-4a3b-bb07-a6ec83182318","block_type":"box","text":"Form","page_number":5,"box":{"x":72,"y":505,"width":37,"height":8}},{"id":"23a5d2b3-9052-4417-b106-7598f3d1a29a","block_type":"box","text":"The application form to subscribe for","page_number":5,"box":{"x":190,"y":504,"width":271,"height":11}},{"id":"e0cfa096-8b52-4b25-a8fd-52c93f4b1633","block_type":"box","text":"Units in the Scheme (including","page_number":5,"box":{"x":191,"y":518,"width":224,"height":11}},{"id":"78fa8578-9a29-42ac-9a7d-1b82d1d79bab","block_type":"box","text":"appropriate documentation to confirm","page_number":5,"box":{"x":190,"y":532,"width":277,"height":11}},{"id":"eaad741c-5d6e-4535-b03e-571a23e52263","block_type":"box","text":"the tax status of the Unitholder).","page_number":5,"box":{"x":190,"y":545,"width":236,"height":11}},{"id":"e30482d7-45ca-4cf9-9433-63bcd2314de1","block_type":"box","text":"FSCS","page_number":5,"box":{"x":72,"y":571,"width":42,"height":9}},{"id":"f97d64b2-ba76-499b-b7ab-fbaa42e9d063","block_type":"box","text":"Financial Services Compensation","page_number":5,"box":{"x":191,"y":571,"width":247,"height":11}},{"id":"be1ccba7-e90e-4017-bb0f-344e0bfee02e","block_type":"box","text":"Scheme.","page_number":5,"box":{"x":190,"y":585,"width":64,"height":8}},{"id":"ce28d78a-a92e-42e4-bd20-a9adb9433bdd","block_type":"box","text":"FUND","page_number":5,"box":{"x":72,"y":610,"width":44,"height":9}},{"id":"06b86dac-ec76-4274-b8b5-fec63a80e8c3","block_type":"box","text":"Sourcebook","page_number":5,"box":{"x":71,"y":624,"width":89,"height":9}},{"id":"293f73c3-8b12-4cb7-803b-af0141bf6afc","block_type":"box","text":"The Investment Funds Sourcebook","page_number":5,"box":{"x":190,"y":610,"width":261,"height":9}},{"id":"e03d7c41-962d-4c7f-bbca-447588bebad1","block_type":"box","text":"which forms part of the FCA","page_number":5,"box":{"x":190,"y":624,"width":207,"height":11}},{"id":"415a53f6-5e89-450d-bfe0-7daf0543e922","block_type":"box","text":"Handbook, as amended from time to","page_number":5,"box":{"x":191,"y":637,"width":270,"height":11}},{"id":"656f4e24-62ed-405d-8fc1-132dff70bce2","block_type":"box","text":"time. References to rules or guidance","page_number":5,"box":{"x":190,"y":651,"width":278,"height":11}},{"id":"5bbcf5e5-eb3f-48eb-921e-e63db5fddcdb","block_type":"box","text":"in the FUND Sourcebook are prefaced","page_number":5,"box":{"x":191,"y":665,"width":283,"height":11}},{"id":"43ed5a13-2aac-4806-bcd5-bbaa3c0c5dff","block_type":"box","text":"by \"FUND\".","page_number":5,"box":{"x":191,"y":679,"width":83,"height":11}},{"id":"273878c8-da93-4192-beef-3ad0df0e2d8f","block_type":"box","text":"HMRC or HM","page_number":5,"box":{"x":72,"y":704,"width":98,"height":9}},{"id":"359db72a-224c-4ac0-bb19-4104a8015b3c","block_type":"box","text":"Revenue and","page_number":5,"box":{"x":72,"y":718,"width":97,"height":8}},{"id":"f3e16746-57f3-4812-beb8-c9bff6512cdb","block_type":"box","text":"Customs","page_number":5,"box":{"x":71,"y":731,"width":65,"height":9}},{"id":"9e6b5869-8586-4309-8225-23cee41f0f17","block_type":"box","text":"His Majesty’s Revenue and Customs.","page_number":5,"box":{"x":191,"y":704,"width":276,"height":11}},{"id":"582fcf38-4a40-4099-bc75-fe079343ccf5","block_type":"box","text":"Income","page_number":5,"box":{"x":72,"y":757,"width":53,"height":8}},{"id":"a9510d45-46fb-4dbc-95cb-ae2651edf86c","block_type":"box","text":"Distribution","page_number":5,"box":{"x":72,"y":771,"width":81,"height":8}},{"id":"7c0785c6-8ee7-4ee5-bbae-e8c75dba06e6","block_type":"box","text":"Units","page_number":5,"box":{"x":72,"y":784,"width":36,"height":9}},{"id":"f00a1d95-7622-476e-8d23-8558153cd36e","block_type":"box","text":"Units (of whatever class) issued from","page_number":5,"box":{"x":191,"y":757,"width":273,"height":11}},{"id":"26ca1685-479c-4b01-b90c-e1c408113e0d","block_type":"box","text":"time to time in respect of a Sub-Fund","page_number":5,"box":{"x":190,"y":770,"width":274,"height":12}},{"id":"3a0c5ce9-976f-4ed6-92db-42d61a161b43","block_type":"box","text":"and in respect of which income is","page_number":5,"box":{"x":190,"y":784,"width":246,"height":11}},{"id":"f8ea2dbf-755f-43c3-8184-5042aeb04984","block_type":"box","text":"distributed periodically to Unitholders","page_number":5,"box":{"x":190,"y":798,"width":273,"height":11}},{"id":"67bca132-68ec-4b98-b414-60972b320b6c","block_type":"box","text":"pursuant to the COLL Sourcebook and","page_number":5,"box":{"x":191,"y":811,"width":285,"height":11}},{"id":"7e4ededc-53c9-4450-8f09-66f9b892e729","block_type":"box","text":"the ACS Deed.","page_number":5,"box":{"x":190,"y":825,"width":110,"height":9}},{"id":"d9297f93-ab19-4d1e-9e22-97ec14bc592e","block_type":"box","text":"Investment","page_number":5,"box":{"x":72,"y":851,"width":80,"height":8}},{"id":"ba400fff-560f-4fd8-936c-485a7c0121a1","block_type":"box","text":"Managers","page_number":5,"box":{"x":72,"y":864,"width":72,"height":11}},{"id":"2dabe17a-cb9b-4898-b51a-f482916583e5","block_type":"box","text":"Schroders, FIL and AIGSL (each an","page_number":5,"box":{"x":190,"y":850,"width":265,"height":12}},{"id":"c48a363d-3c58-40c4-b98c-e4c84a8500c6","block_type":"box","text":"Investment Manager).","page_number":5,"box":{"x":191,"y":864,"width":160,"height":11}},{"id":"22c447cd-229f-4281-b126-b19ed4fb9868","block_type":"box","text":"Investor","page_number":5,"box":{"x":72,"y":890,"width":58,"height":9}},{"id":"fc25ac6f-54d3-458c-89a6-7abd1bea85ac","block_type":"box","text":"Agreement","page_number":5,"box":{"x":71,"y":904,"width":81,"height":11}},{"id":"9780ebf6-1aa7-4408-b1d9-b8373bc32cd2","block_type":"box","text":"An investor agreement containing the","page_number":5,"box":{"x":190,"y":890,"width":277,"height":11}},{"id":"af0d5fe1-21ea-476d-b035-e0c300fb9f74","block_type":"box","text":"indemnities and undertakings required","page_number":5,"box":{"x":191,"y":904,"width":282,"height":11}},{"id":"2c2a1ff6-fc1e-4f15-a33b-24c8b54bf857","block_type":"box","text":"in connection with a Unitholder’s","page_number":5,"box":{"x":652,"y":46,"width":239,"height":9}},{"id":"e0eb75aa-f88f-44e7-8379-16ec204e8187","block_type":"box","text":"subscription for Units in the Scheme","page_number":5,"box":{"x":651,"y":59,"width":268,"height":11}},{"id":"eeeb7337-203d-4901-8284-58316e72ba0b","block_type":"box","text":"and (where required by the ACS","page_number":5,"box":{"x":651,"y":73,"width":239,"height":11}},{"id":"77d42e4e-4c7a-41f5-b54d-21c2f24662ca","block_type":"box","text":"Manager) governing any investment","page_number":5,"box":{"x":652,"y":87,"width":266,"height":11}},{"id":"1bb71eba-28ec-4f67-bd4c-dd0f63ca358c","block_type":"box","text":"management charges.","page_number":5,"box":{"x":652,"y":100,"width":164,"height":12}},{"id":"c30c55f9-3d28-429b-bdfa-d7099e5f895e","block_type":"box","text":"Minimum","page_number":5,"box":{"x":533,"y":126,"width":66,"height":9}},{"id":"27963203-bae3-4982-b22d-bdbef531993a","block_type":"box","text":"Investment","page_number":5,"box":{"x":533,"y":140,"width":80,"height":8}},{"id":"879afbfe-5bd3-4c73-8dbe-51a8235fa60e","block_type":"box","text":"The minimum investment required for","page_number":5,"box":{"x":651,"y":126,"width":278,"height":11}},{"id":"8427cf13-b898-47b8-9f17-abbc325139a7","block_type":"box","text":"an investor in a Sub-Fund. The","page_number":5,"box":{"x":651,"y":139,"width":230,"height":9}},{"id":"905dd62d-4939-4deb-9e26-66c3c4cb1a51","block_type":"box","text":"Minimum Investment for each Sub","page_number":5,"box":{"x":652,"y":153,"width":258,"height":9}},{"id":"42e86241-2d16-492e-8b43-3d3900d0e3dc","block_type":"box","text":"Fund is set out in Appendix 1.","page_number":5,"box":{"x":652,"y":167,"width":219,"height":11}},{"id":"518c04a5-73de-4a8d-a4ce-7ceae4ef5b7a","block_type":"box","text":"MMFR","page_number":5,"box":{"x":533,"y":193,"width":48,"height":8}},{"id":"9b6fce3e-a79b-4a51-b475-c1b7498fd082","block_type":"box","text":"The UK version of Regulation (EU) No","page_number":5,"box":{"x":651,"y":192,"width":284,"height":12}},{"id":"9de329c1-29ab-421a-ae5d-590bedf0a836","block_type":"box","text":"2017/1131 of the European Parliament","page_number":5,"box":{"x":651,"y":206,"width":288,"height":11}},{"id":"de08e5ca-bb0c-46ac-96a2-da8749a2c50f","block_type":"box","text":"and the Council of 14 June 2017 on","page_number":5,"box":{"x":651,"y":220,"width":264,"height":9}},{"id":"e40ed895-b55f-4ec9-a31d-a26983faf917","block_type":"box","text":"money market funds, which is part","page_number":5,"box":{"x":652,"y":233,"width":253,"height":11}},{"id":"a0c4ebbb-34a2-48ec-8d57-98491776bf1e","block_type":"box","text":"of UK law by virtue of the EUWA.","page_number":5,"box":{"x":651,"y":247,"width":245,"height":11}},{"id":"b243bf7c-bdca-47db-be2f-286036b2f818","block_type":"box","text":"Non-UCITS","page_number":5,"box":{"x":533,"y":298,"width":85,"height":9}},{"id":"7d5afb41-f211-43b5-936a-19e3d80909fa","block_type":"box","text":"retail scheme","page_number":5,"box":{"x":533,"y":312,"width":98,"height":9}},{"id":"31d86d2c-066d-40e8-a203-e7a643b5e4c2","block_type":"box","text":"A scheme complying with the","page_number":5,"box":{"x":651,"y":298,"width":217,"height":11}},{"id":"656f8727-b02a-42d8-b05f-a6d4ac643e47","block_type":"box","text":"requirements of the COLL Sourcebook","page_number":5,"box":{"x":652,"y":312,"width":286,"height":11}},{"id":"7c7cd213-f4b0-44b2-b8db-b536f95df2d6","block_type":"box","text":"for a non-UCITS retail scheme.","page_number":5,"box":{"x":651,"y":325,"width":230,"height":9}},{"id":"4feb20ed-9f52-4414-a165-faec0c061ed7","block_type":"box","text":"Normal","page_number":5,"box":{"x":533,"y":351,"width":52,"height":9}},{"id":"ae160422-788d-460d-89f3-112f02b6e4f1","block_type":"box","text":"Business","page_number":5,"box":{"x":533,"y":365,"width":66,"height":8}},{"id":"b32a2971-8e03-4f3b-a6b6-7ab6ae5324dd","block_type":"box","text":"Hours","page_number":5,"box":{"x":533,"y":378,"width":43,"height":9}},{"id":"3737bb2c-8c91-4fb9-ad2a-00651fde589e","block_type":"box","text":"The hours between 8.30 a.m. and 5.30","page_number":5,"box":{"x":651,"y":351,"width":288,"height":9}},{"id":"36f2ac83-edb1-43f7-9c05-082a5b53747a","block_type":"box","text":"p.m. on any Business Day.","page_number":5,"box":{"x":652,"y":365,"width":197,"height":11}},{"id":"f2c3fc56-9d1f-4575-a355-a18e51c68033","block_type":"box","text":"OTC","page_number":5,"box":{"x":532,"y":404,"width":35,"height":9}},{"id":"862be9a3-e833-4044-8180-244410506387","block_type":"box","text":"Over-the-counter.","page_number":5,"box":{"x":652,"y":404,"width":129,"height":9}},{"id":"e69f9a82-cf24-421e-abb7-389ed04e4927","block_type":"box","text":"Power of","page_number":5,"box":{"x":533,"y":429,"width":65,"height":9}},{"id":"84c00fa0-98cc-476d-b85d-0bbc6b245ef5","block_type":"box","text":"Attorney","page_number":5,"box":{"x":532,"y":443,"width":62,"height":11}},{"id":"ae837bff-7302-45b2-9d3d-d3a86b7529a8","block_type":"box","text":"A power of attorney in connection with,","page_number":5,"box":{"x":651,"y":429,"width":287,"height":11}},{"id":"6e5fa7c3-3c3c-4226-bbc2-d948ee425069","block_type":"box","text":"amongst other things, applications for","page_number":5,"box":{"x":651,"y":443,"width":279,"height":11}},{"id":"2b7a1a1f-ca11-4fce-a40e-b5ee69f43a96","block_type":"box","text":"reductions of withholding tax required","page_number":5,"box":{"x":652,"y":457,"width":276,"height":11}},{"id":"0e029ef8-f95d-4562-bd69-facd2be69ec7","block_type":"box","text":"to be entered into by Unitholders","page_number":5,"box":{"x":651,"y":470,"width":242,"height":11}},{"id":"29c9b714-e7ec-4bc1-8fb3-13f85ac27260","block_type":"box","text":"contemporaneously with and as a","page_number":5,"box":{"x":652,"y":484,"width":249,"height":11}},{"id":"a49d77fe-f85f-4eec-afc4-17f62c1c7a1b","block_type":"box","text":"condition to completion of the Form.","page_number":5,"box":{"x":652,"y":498,"width":264,"height":11}},{"id":"1aedf256-6747-4246-8655-e978ffaf7cb6","block_type":"box","text":"PRA","page_number":5,"box":{"x":533,"y":523,"width":33,"height":9}},{"id":"2d0ad773-62f7-4f63-87e1-f6bd286be9b7","block_type":"box","text":"Prudential Regulation Authority.","page_number":5,"box":{"x":652,"y":523,"width":234,"height":11}},{"id":"e0748d43-7d91-4e65-8b04-27c80473cef2","block_type":"box","text":"PRC","page_number":5,"box":{"x":533,"y":549,"width":33,"height":9}},{"id":"f4dd8271-ca90-435f-b4c3-b21a57cefe77","block_type":"box","text":"The People’s Republic of China.","page_number":5,"box":{"x":651,"y":549,"width":238,"height":11}},{"id":"d4a5ed90-4fe3-43d0-8cfa-cea98bc3085f","block_type":"box","text":"Professional","page_number":5,"box":{"x":533,"y":574,"width":90,"height":9}},{"id":"a80bcd54-24ea-43cb-8439-170ff8b225dc","block_type":"box","text":"Investor","page_number":5,"box":{"x":533,"y":588,"width":58,"height":9}},{"id":"95a9c5c1-7d18-44b8-b436-530246a07b12","block_type":"box","text":"An investor that is considered to be a","page_number":5,"box":{"x":651,"y":574,"width":276,"height":9}},{"id":"34258d50-3264-4a4b-9233-bac201d3e22e","block_type":"box","text":"professional client or that may, on","page_number":5,"box":{"x":652,"y":588,"width":249,"height":11}},{"id":"4e5a8936-b2b3-4483-8dd0-51e80440bd80","block_type":"box","text":"request, be treated as a professional","page_number":5,"box":{"x":652,"y":602,"width":270,"height":11}},{"id":"bfd0413f-f4f7-41cd-a5e7-97bfdb690a33","block_type":"box","text":"client within the meaning of the","page_number":5,"box":{"x":652,"y":615,"width":229,"height":11}},{"id":"6a357897-0598-45d1-b20e-394bf530038b","block_type":"box","text":"Financial Services and Markets Act","page_number":5,"box":{"x":652,"y":629,"width":261,"height":9}},{"id":"5b134470-4b3c-43b4-92dc-53b5a2dbba8b","block_type":"box","text":"2000 (Markets in Financial","page_number":5,"box":{"x":651,"y":642,"width":196,"height":12}},{"id":"28f86eb0-6894-41c8-9295-0f3c3ed98cd0","block_type":"box","text":"Instruments) Regulations 2017 (SI","page_number":5,"box":{"x":652,"y":656,"width":252,"height":11}},{"id":"95b0e998-4762-407d-a894-1603a7131c4f","block_type":"box","text":"2017/701) (which, for the avoidance of","page_number":5,"box":{"x":651,"y":670,"width":285,"height":11}},{"id":"6f054d12-e5c4-471c-9764-bb5c80d8602e","block_type":"box","text":"doubt, shall include, a person who the","page_number":5,"box":{"x":651,"y":684,"width":281,"height":11}},{"id":"dd186e70-4616-426b-a437-ddc22604248c","block_type":"box","text":"ACS Manager has been permitted to","page_number":5,"box":{"x":651,"y":697,"width":272,"height":11}},{"id":"67c070a0-d380-4ca9-9dbc-c04b9a92ba4b","block_type":"box","text":"treat as an elective professional client","page_number":5,"box":{"x":651,"y":711,"width":279,"height":11}},{"id":"d0d1e8e7-3c46-4833-b1e7-1822a6881b1a","block_type":"box","text":"in accordance with COBS 3.5.3BR to","page_number":5,"box":{"x":652,"y":724,"width":274,"height":9}},{"id":"9602acd7-7893-4268-ba23-dd33c746b489","block_type":"box","text":"COBS 3.5.3ER).","page_number":5,"box":{"x":652,"y":738,"width":120,"height":11}},{"id":"6721f022-d04e-4ee5-90aa-6871c67bc781","block_type":"box","text":"Register","page_number":5,"box":{"x":533,"y":764,"width":61,"height":11}},{"id":"dd60501f-1363-4f43-b651-6d75874568ad","block_type":"box","text":"The register of Unitholders for each of","page_number":5,"box":{"x":651,"y":764,"width":281,"height":11}},{"id":"9eb02f59-c10c-4cd5-b1bc-271f1d5aa2db","block_type":"box","text":"the Sub-Funds.","page_number":5,"box":{"x":651,"y":777,"width":113,"height":9}},{"id":"5db4e3a0-ce2f-49e6-a202-7fb99d6331a1","block_type":"box","text":"Registrar","page_number":5,"box":{"x":533,"y":803,"width":67,"height":11}},{"id":"66b1e200-afcc-4e97-88d7-6b5ca58c4b38","block_type":"box","text":"The Bank of New York Mellon","page_number":5,"box":{"x":651,"y":803,"width":221,"height":9}},{"id":"9adda88f-183d-4c99-bb97-077a6d281449","block_type":"box","text":"(International) Limited.","page_number":5,"box":{"x":652,"y":816,"width":164,"height":12}},{"id":"db69518f-bab9-4cf0-accd-e468d286c3f5","block_type":"box","text":"Safekeeping","page_number":5,"box":{"x":533,"y":842,"width":91,"height":11}},{"id":"55a06b1c-1534-4085-8e9a-66c22bb1ac2b","block_type":"box","text":"Function","page_number":5,"box":{"x":533,"y":856,"width":62,"height":8}},{"id":"df088c66-f1ee-4f47-b3d4-64c758ba68ed","block_type":"box","text":"The function of safekeeping the assets","page_number":5,"box":{"x":651,"y":842,"width":287,"height":11}},{"id":"39ca6f75-aeab-47a6-98fb-95463e610246","block_type":"box","text":"of the Sub-Funds, which includes:","page_number":5,"box":{"x":651,"y":856,"width":250,"height":10}},{"id":"3a1c8939-d530-4024-a930-7e0ebaf51d12","block_type":"box","text":"(i) holding in custody all financial","page_number":5,"box":{"x":652,"y":875,"width":240,"height":11}},{"id":"54831527-6aa4-4527-9a37-21215febac1e","block_type":"box","text":"instruments that can be registered in a","page_number":5,"box":{"x":652,"y":889,"width":284,"height":11}},{"id":"a5416312-d7f6-4dcb-86fa-e12efc191ddb","block_type":"box","text":"financial instrument account opened in","page_number":5,"box":{"x":651,"y":903,"width":285,"height":11}},{"id":"d59858ef-5f64-4081-87b5-fb359e886ed6","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 6","page_number":6,"box":{"x":62,"y":929,"width":316,"height":8}},{"id":"28ba76fb-6447-4b86-ab31-8ac9af3a96b9","block_type":"box","text":"the Depositary's books and all","page_number":6,"box":{"x":190,"y":46,"width":222,"height":11}},{"id":"dbc5867a-793f-4b08-93c2-66628c916133","block_type":"box","text":"financial instruments that can be","page_number":6,"box":{"x":190,"y":59,"width":240,"height":9}},{"id":"a6f4fd36-20f7-4528-8cc2-4e61af1c11bf","block_type":"box","text":"physically delivered to the Depositary;","page_number":6,"box":{"x":191,"y":73,"width":279,"height":11}},{"id":"e58d08dc-3a9d-4474-b115-df7007f71408","block_type":"box","text":"and","page_number":6,"box":{"x":190,"y":87,"width":26,"height":9}},{"id":"33997683-9a9b-47bf-b3f7-1287573d9032","block_type":"box","text":"(ii) for other assets, verifying the","page_number":6,"box":{"x":191,"y":106,"width":237,"height":12}},{"id":"7e8dc979-880b-40ed-815f-762f38894a7e","block_type":"box","text":"ownership of such assets,","page_number":6,"box":{"x":190,"y":120,"width":191,"height":11}},{"id":"561c0dc8-b088-46bb-bd7f-d961c49855b7","block_type":"box","text":"and maintaining records accordingly.","page_number":6,"box":{"x":190,"y":140,"width":272,"height":11}},{"id":"b37cb03b-b3ae-48db-a7c4-d3db23b2dea6","block_type":"box","text":"Scheme","page_number":6,"box":{"x":71,"y":165,"width":60,"height":9}},{"id":"27749b29-c450-4af2-84f3-aa55e97331d5","block_type":"box","text":"Aviva Investors Funds ACS.","page_number":6,"box":{"x":190,"y":165,"width":207,"height":9}},{"id":"b9b49d7a-5e0c-4472-a852-374a7bc6ba0c","block_type":"box","text":"Schroders","page_number":6,"box":{"x":71,"y":191,"width":75,"height":9}},{"id":"97ec8d30-82ec-48b8-94e9-371a5eef6cf9","block_type":"box","text":"Schroder Investment Management","page_number":6,"box":{"x":190,"y":190,"width":257,"height":12}},{"id":"cbf390be-c2f0-4d6e-9468-5d972bdbd37e","block_type":"box","text":"Limited.","page_number":6,"box":{"x":191,"y":205,"width":56,"height":8}},{"id":"cb232e15-de86-48df-a851-e6a8e49110e6","block_type":"box","text":"Securities","page_number":6,"box":{"x":71,"y":230,"width":72,"height":9}},{"id":"81639980-7306-408a-bb63-799b35477ccf","block_type":"box","text":"Financing","page_number":6,"box":{"x":72,"y":244,"width":70,"height":11}},{"id":"1fd207be-d74a-48d2-a463-1e4e236dbf25","block_type":"box","text":"Transactions","page_number":6,"box":{"x":71,"y":257,"width":95,"height":9}},{"id":"ae631933-d3a6-44cc-a160-e5dcebfad061","block_type":"box","text":"Regulation","page_number":6,"box":{"x":72,"y":271,"width":77,"height":11}},{"id":"5f015004-af0e-457c-91b2-d6bfded486df","block_type":"box","text":"The UK version of Regulation (EU)","page_number":6,"box":{"x":190,"y":230,"width":257,"height":11}},{"id":"7a1931a9-70e8-4014-9620-4442087f2785","block_type":"box","text":"2015/2365 of the European Parliament","page_number":6,"box":{"x":190,"y":243,"width":288,"height":11}},{"id":"615868b0-7ae5-45ad-9404-cbc1568fb6df","block_type":"box","text":"and of the Council of 25 November","page_number":6,"box":{"x":190,"y":257,"width":259,"height":9}},{"id":"094d7895-e731-4e07-b01d-9bccfc1396a3","block_type":"box","text":"2015 on transparency of securities","page_number":6,"box":{"x":190,"y":271,"width":256,"height":11}},{"id":"d741f370-5867-4c11-9eb7-332a1e3a1920","block_type":"box","text":"financing transactions and of reuse","page_number":6,"box":{"x":190,"y":284,"width":259,"height":12}},{"id":"e3063810-dd7e-4ead-9f33-dde6410ccb2a","block_type":"box","text":"and amending Regulation (EU) No","page_number":6,"box":{"x":190,"y":298,"width":256,"height":11}},{"id":"de83c3b2-c389-4463-9704-3efce8c384b5","block_type":"box","text":"648/2012 as amended by the","page_number":6,"box":{"x":190,"y":312,"width":216,"height":11}},{"id":"728bfe8b-3230-4c09-8e8b-408739437776","block_type":"box","text":"Transparency of Securities Financing","page_number":6,"box":{"x":190,"y":325,"width":276,"height":12}},{"id":"82dcc4c6-4fa1-4aaf-b2ec-9d518dc01f0d","block_type":"box","text":"Transactions and of Reuse","page_number":6,"box":{"x":190,"y":339,"width":200,"height":9}},{"id":"dc4e209f-a32a-441c-9c6d-fdf7e4d619f9","block_type":"box","text":"(Amendment) (EU Exit) Regulations","page_number":6,"box":{"x":191,"y":353,"width":265,"height":11}},{"id":"775ab333-e8f0-4c88-aa15-f42ac57f4d0e","block_type":"box","text":"2019, which is part of UK law by virtue","page_number":6,"box":{"x":190,"y":366,"width":283,"height":12}},{"id":"a01f9015-711c-4369-b4b7-6a48be2cb905","block_type":"box","text":"of the EUWA.","page_number":6,"box":{"x":190,"y":380,"width":100,"height":9}},{"id":"cf76d711-445d-4905-8b63-17027fecd40d","block_type":"box","text":"Securities","page_number":6,"box":{"x":71,"y":405,"width":72,"height":9}},{"id":"088d3b0b-1b1e-4a44-9b1a-0675c1befc3a","block_type":"box","text":"Lending","page_number":6,"box":{"x":72,"y":419,"width":57,"height":11}},{"id":"dc6e5142-e480-4570-bc86-ced1d32f3662","block_type":"box","text":"Agent","page_number":6,"box":{"x":71,"y":433,"width":43,"height":11}},{"id":"724b4ea4-6cd1-412f-ae52-fc8b2568b08a","block_type":"box","text":"The Bank of New York Mellon, London","page_number":6,"box":{"x":190,"y":405,"width":286,"height":11}},{"id":"6d0e2be4-d3f5-46d2-8100-4afad838ddae","block_type":"box","text":"Branch.","page_number":6,"box":{"x":191,"y":419,"width":55,"height":9}},{"id":"6e449611-e39a-4f71-9ebf-c86c4a1c5b6f","block_type":"box","text":"Securities","page_number":6,"box":{"x":71,"y":458,"width":72,"height":9}},{"id":"a81f58d7-5c10-4557-b5a9-e8054147d162","block_type":"box","text":"Lending","page_number":6,"box":{"x":72,"y":472,"width":57,"height":11}},{"id":"fd7014c5-c8f7-4e57-b418-a91be6066b0c","block_type":"box","text":"Authorisation","page_number":6,"box":{"x":71,"y":486,"width":96,"height":8}},{"id":"2687fc4b-bf05-4640-a49a-f3a10add0ccc","block_type":"box","text":"Agreement","page_number":6,"box":{"x":71,"y":500,"width":81,"height":11}},{"id":"3164d9d3-47f8-4812-8981-dfc018a72514","block_type":"box","text":"As defined in paragraph 24(b)(i).","page_number":6,"box":{"x":190,"y":458,"width":240,"height":12}},{"id":"ce16f47a-7190-4c00-8bae-7773bfa82002","block_type":"box","text":"Service","page_number":6,"box":{"x":71,"y":525,"width":55,"height":9}},{"id":"2a9d4eff-3dbc-4665-84b9-db4cdbc720a8","block_type":"box","text":"Providers","page_number":6,"box":{"x":72,"y":539,"width":69,"height":8}},{"id":"f5c379ae-f03e-4807-a7b7-9483b7b90714","block_type":"box","text":"The service providers to the Scheme,","page_number":6,"box":{"x":190,"y":525,"width":276,"height":11}},{"id":"3b94cca8-f28b-4824-b48f-f37942e1711d","block_type":"box","text":"including the Investment Managers,","page_number":6,"box":{"x":191,"y":539,"width":262,"height":11}},{"id":"23594be4-95e0-4af9-bafc-02c1b0de8b17","block_type":"box","text":"the Administrator and the Auditor,","page_number":6,"box":{"x":190,"y":552,"width":248,"height":11}},{"id":"c6f81708-25da-494e-aed1-54d8029b861e","block_type":"box","text":"whose details are set out herein.","page_number":6,"box":{"x":190,"y":566,"width":240,"height":9}},{"id":"1c06aadc-3d94-4021-a775-6d2d50501adb","block_type":"box","text":"SFT","page_number":6,"box":{"x":71,"y":591,"width":31,"height":9}},{"id":"109d971d-54dc-4cf8-96a3-d16d361cc7aa","block_type":"box","text":"A securities financing transaction as","page_number":6,"box":{"x":190,"y":591,"width":267,"height":12}},{"id":"d4609e81-d3d3-47bd-bcb8-b7726f4e1618","block_type":"box","text":"defined by Article 3(11) of the","page_number":6,"box":{"x":190,"y":605,"width":218,"height":11}},{"id":"e33b0111-0f42-40f9-9058-ddb84b9c1c7e","block_type":"box","text":"Securities Financing Transactions","page_number":6,"box":{"x":190,"y":619,"width":251,"height":11}},{"id":"977f7675-7bdd-4f42-b6f8-51d51f365720","block_type":"box","text":"Regulation.","page_number":6,"box":{"x":191,"y":632,"width":82,"height":12}},{"id":"ccc6d14a-779d-434b-ba06-a154ce589fb7","block_type":"box","text":"Sub-Funds","page_number":6,"box":{"x":71,"y":658,"width":81,"height":9}},{"id":"78e0df1f-3785-478d-80b5-006aebeea109","block_type":"box","text":"The sub-fund of the Scheme with","page_number":6,"box":{"x":190,"y":658,"width":245,"height":9}},{"id":"22c83230-3713-4b30-9c14-6299aedb2183","block_type":"box","text":"segregated liability and detailed in","page_number":6,"box":{"x":190,"y":672,"width":251,"height":11}},{"id":"801e4af1-e20f-4ef3-b914-152f177bae5e","block_type":"box","text":"Appendix 1 from time to time (each a","page_number":6,"box":{"x":190,"y":685,"width":273,"height":11}},{"id":"6d4ac43c-cd86-4031-af7d-35437bf9c767","block_type":"box","text":"Sub-Fund).","page_number":6,"box":{"x":190,"y":699,"width":82,"height":11}},{"id":"075de1c7-6452-4b46-b780-f6ee6f7b30b1","block_type":"box","text":"Stewardship","page_number":6,"box":{"x":71,"y":724,"width":91,"height":11}},{"id":"c9440426-cc16-4ebe-8cac-3006b0c77aa8","block_type":"box","text":"Funds","page_number":6,"box":{"x":72,"y":738,"width":44,"height":9}},{"id":"6e36ce2b-b2ee-43e9-8478-7cb5414d6621","block_type":"box","text":"The AI Stewardship UK Equity Fund,","page_number":6,"box":{"x":190,"y":724,"width":272,"height":12}},{"id":"8f627615-52e9-4079-a325-a1ca8fc55a88","block_type":"box","text":"AI Stewardship International Equity","page_number":6,"box":{"x":190,"y":738,"width":261,"height":11}},{"id":"81bd60d0-8dc6-49cb-a2b9-c827bcf11774","block_type":"box","text":"Fund, AI Stewardship UK Equity","page_number":6,"box":{"x":191,"y":752,"width":238,"height":11}},{"id":"d161582b-511b-46b9-b09c-bdb65552379b","block_type":"box","text":"Income Fund, and AI Stewardship","page_number":6,"box":{"x":191,"y":765,"width":251,"height":12}},{"id":"cccaf485-cf67-4fa2-ad8c-25045c29ff2e","block_type":"box","text":"Fixed Interest Fund.","page_number":6,"box":{"x":191,"y":779,"width":146,"height":9}},{"id":"891cbb8a-54a5-45c6-8d84-ad47775ecd03","block_type":"box","text":"TBAs","page_number":6,"box":{"x":71,"y":805,"width":40,"height":8}},{"id":"806dfcfb-cbdc-458f-9657-3d4b4e6ab9ed","block_type":"box","text":"“To Be Announced” securities.","page_number":6,"box":{"x":190,"y":805,"width":224,"height":8}},{"id":"f466068d-f320-4c3f-b9a0-2148b23c058f","block_type":"box","text":"TRS","page_number":6,"box":{"x":71,"y":830,"width":32,"height":9}},{"id":"b2f5230a-98da-44db-a30f-65f55092658f","block_type":"box","text":"A total return swap as defined by","page_number":6,"box":{"x":190,"y":830,"width":244,"height":11}},{"id":"e6db7345-b198-4093-b9ae-9b9dab6f8ec9","block_type":"box","text":"Article 3(18) of the Securities","page_number":6,"box":{"x":190,"y":844,"width":215,"height":11}},{"id":"8bdd181b-6e75-4cfd-9cb7-15c9fdeef4c6","block_type":"box","text":"Financing Transactions Regulation.","page_number":6,"box":{"x":191,"y":858,"width":260,"height":11}},{"id":"f80e19fb-f32f-490e-89b8-e85cc6dfc997","block_type":"box","text":"UCITS","page_number":6,"box":{"x":72,"y":883,"width":48,"height":9}},{"id":"277e9159-82db-42c9-8236-22eb0e3aba9d","block_type":"box","text":"An undertaking for collective","page_number":6,"box":{"x":190,"y":883,"width":210,"height":11}},{"id":"314bbc65-71fd-4d7c-84d3-92dc0a296c07","block_type":"box","text":"investment in transferable securities","page_number":6,"box":{"x":191,"y":897,"width":266,"height":8}},{"id":"8dd87cf0-ef6c-49f1-8bd8-656da356e5ef","block_type":"box","text":"which is a UCITS Scheme or an EEA","page_number":6,"box":{"x":190,"y":910,"width":276,"height":9}},{"id":"7a9700c5-293a-454b-9b39-703316b0b1ad","block_type":"box","text":"UCITS scheme, the latter as defined in","page_number":6,"box":{"x":652,"y":46,"width":286,"height":10}},{"id":"64ea16e5-7c4e-4d06-b302-c04ec2348a4c","block_type":"box","text":"the FCA Handbook.","page_number":6,"box":{"x":651,"y":59,"width":146,"height":9}},{"id":"c77b5f73-0b41-4eef-bfd0-75974d390935","block_type":"box","text":"UCITS","page_number":6,"box":{"x":533,"y":85,"width":48,"height":9}},{"id":"151b9748-77b8-413c-9a95-f64fac019072","block_type":"box","text":"Directive","page_number":6,"box":{"x":533,"y":99,"width":63,"height":8}},{"id":"a038908f-0a87-4e5f-8c5b-94e30a4f333d","block_type":"box","text":"The European Parliament and Council","page_number":6,"box":{"x":651,"y":85,"width":284,"height":11}},{"id":"69717d05-9334-40ba-a0c4-5c598b279b9e","block_type":"box","text":"Directive of 13 July 2009 on the","page_number":6,"box":{"x":652,"y":99,"width":233,"height":11}},{"id":"82f80a49-887e-4d36-8510-e003bc0c5139","block_type":"box","text":"coordination of laws, regulations and","page_number":6,"box":{"x":652,"y":112,"width":271,"height":12}},{"id":"d8dff36c-7655-40c8-8c40-ade792862c85","block_type":"box","text":"administrative provisions relating to","page_number":6,"box":{"x":651,"y":126,"width":262,"height":11}},{"id":"dfd70ded-8196-4298-a3c0-394e1c9d1ab4","block_type":"box","text":"undertakings for collective investment","page_number":6,"box":{"x":652,"y":140,"width":278,"height":11}},{"id":"18282a0c-7b6b-4703-bdea-caaf27169213","block_type":"box","text":"in transferable securities (UCITS) (No","page_number":6,"box":{"x":652,"y":153,"width":278,"height":11}},{"id":"1f00963f-d811-42df-9086-008aa8677e30","block_type":"box","text":"2009/65/EC), as amended.","page_number":6,"box":{"x":651,"y":167,"width":199,"height":11}},{"id":"b0a1c701-f9d5-4265-ac20-a0b4b654e282","block_type":"box","text":"UCITS","page_number":6,"box":{"x":533,"y":192,"width":48,"height":9}},{"id":"f5769f72-737d-4fdf-95e8-28f09c3b921f","block_type":"box","text":"Scheme","page_number":6,"box":{"x":533,"y":206,"width":60,"height":9}},{"id":"792b8359-ad71-4c89-95d9-64f2b12b6058","block_type":"box","text":"A UK UCITS, as defined below.","page_number":6,"box":{"x":651,"y":192,"width":232,"height":11}},{"id":"af8eca4d-572b-4e0d-9c89-ea1643736f2c","block_type":"box","text":"UK","page_number":6,"box":{"x":533,"y":232,"width":22,"height":8}},{"id":"0f221e59-0778-4255-9d76-de662b37df68","block_type":"box","text":"The United Kingdom of Great Britain","page_number":6,"box":{"x":651,"y":231,"width":269,"height":12}},{"id":"d4327502-0057-455c-9169-f9945b42aa40","block_type":"box","text":"and Northern Ireland.","page_number":6,"box":{"x":651,"y":245,"width":157,"height":9}},{"id":"94d77a38-27b9-42b7-995b-779d46faab76","block_type":"box","text":"UK AIF","page_number":6,"box":{"x":533,"y":271,"width":52,"height":9}},{"id":"bc604537-8805-4268-8129-05f3717fff46","block_type":"box","text":"An alternative investment fund within","page_number":6,"box":{"x":651,"y":271,"width":272,"height":8}},{"id":"ee68c4d6-3927-41af-8894-67f4aa59a38b","block_type":"box","text":"the scope of the UK AIFM Regime and","page_number":6,"box":{"x":651,"y":284,"width":286,"height":12}},{"id":"c7f1dc34-ee9c-4e0a-abbd-cde6e8b6106b","block_type":"box","text":"as defined in the FCA Handbook.","page_number":6,"box":{"x":651,"y":298,"width":246,"height":9}},{"id":"625ef023-5dc0-4d53-b823-dcfb7da4164e","block_type":"box","text":"UK AIFM","page_number":6,"box":{"x":533,"y":324,"width":66,"height":8}},{"id":"4469eb54-f29a-4051-adc1-7c8b4e15280e","block_type":"box","text":"An alternative investment fund","page_number":6,"box":{"x":651,"y":324,"width":225,"height":8}},{"id":"37bce5ed-02a0-41ed-8dae-6108b66641d1","block_type":"box","text":"manager established in the UK and","page_number":6,"box":{"x":652,"y":337,"width":260,"height":12}},{"id":"70e57fc8-9124-412a-b40b-6897c73188ee","block_type":"box","text":"with a Part 4A permission to carry on","page_number":6,"box":{"x":651,"y":351,"width":273,"height":11}},{"id":"ff0f8948-352d-4ae1-a054-18ed81f69cda","block_type":"box","text":"the regulated activity of managing an","page_number":6,"box":{"x":651,"y":365,"width":273,"height":11}},{"id":"7c4e1946-ea77-4ef8-b539-2c3308083df4","block_type":"box","text":"alternative investment fund.","page_number":6,"box":{"x":651,"y":378,"width":204,"height":9}},{"id":"bb442acf-6fb4-4ad5-8e42-381b89055f7f","block_type":"box","text":"UK AIFM","page_number":6,"box":{"x":533,"y":404,"width":66,"height":9}},{"id":"0efb507a-c093-43ec-979d-9ee6ff3dff73","block_type":"box","text":"Regime","page_number":6,"box":{"x":533,"y":418,"width":56,"height":11}},{"id":"adcf56a6-f200-4311-999d-20cd12a89892","block_type":"box","text":"(i) the FUND Sourcebook, (ii) other","page_number":6,"box":{"x":652,"y":404,"width":258,"height":11}},{"id":"fcd8e1c8-3b56-4810-992c-6abd749ef887","block_type":"box","text":"rules in the FCA Handbook which","page_number":6,"box":{"x":652,"y":417,"width":247,"height":9}},{"id":"d1c7e768-6970-4013-b467-18b1eeafb1fb","block_type":"box","text":"when made implemented AIFMD, (iii)","page_number":6,"box":{"x":651,"y":431,"width":275,"height":11}},{"id":"b31ec529-0fd8-4dd4-9420-045710d85da0","block_type":"box","text":"the AIFMD Level 2 Regulation and (iv)","page_number":6,"box":{"x":651,"y":445,"width":283,"height":11}},{"id":"331f1f4d-2202-48cf-a5e7-f232c92dd54c","block_type":"box","text":"the AIFM Regulations.","page_number":6,"box":{"x":651,"y":459,"width":165,"height":11}},{"id":"b6762373-771e-4066-9306-838517d9de87","block_type":"box","text":"UK UCITS","page_number":6,"box":{"x":533,"y":484,"width":76,"height":9}},{"id":"c92f525d-f4d4-4bbb-925a-080d596dc7d8","block_type":"box","text":"In accordance with sections 236A and","page_number":6,"box":{"x":652,"y":484,"width":281,"height":9}},{"id":"28635aef-d398-47a0-91a3-59633b7d4f3c","block_type":"box","text":"237 of the Financial Services and","page_number":6,"box":{"x":651,"y":498,"width":247,"height":9}},{"id":"4185449f-6d76-4591-a703-672d345cd152","block_type":"box","text":"Markets Act 2000, a collective","page_number":6,"box":{"x":652,"y":511,"width":221,"height":11}},{"id":"6b1481dd-24de-4c18-931f-bd1eedd78a9f","block_type":"box","text":"investment scheme which may consist","page_number":6,"box":{"x":652,"y":525,"width":284,"height":11}},{"id":"e2c10096-a6c4-4176-aa3f-34892bcbea94","block_type":"box","text":"of several sub-funds, which is either","page_number":6,"box":{"x":651,"y":539,"width":267,"height":10}},{"id":"cf1095b6-2d86-4a9c-80d1-31f6973fe565","block_type":"box","text":"an authorised unit trust scheme, an","page_number":6,"box":{"x":651,"y":552,"width":261,"height":11}},{"id":"316ff91a-9a04-4b6c-85bf-8531ab5f7b89","block_type":"box","text":"authorised contractual scheme, or an","page_number":6,"box":{"x":651,"y":566,"width":275,"height":10}},{"id":"67d0719f-9175-45ff-a4fa-4fa8200a396a","block_type":"box","text":"authorised open-ended investment","page_number":6,"box":{"x":651,"y":580,"width":258,"height":11}},{"id":"2f4b45fe-6714-407b-90d2-1c4f3a166e8f","block_type":"box","text":"company with the sole object of","page_number":6,"box":{"x":652,"y":593,"width":233,"height":11}},{"id":"f2809cc0-c10d-4b3a-b500-1af6783388ed","block_type":"box","text":"collective investment of capital raised","page_number":6,"box":{"x":652,"y":607,"width":275,"height":11}},{"id":"4d7de108-f397-4a32-9411-0e28fd3f25b3","block_type":"box","text":"from the public in transferable","page_number":6,"box":{"x":651,"y":621,"width":220,"height":11}},{"id":"47429809-e39b-409f-92ae-e26615e3c802","block_type":"box","text":"securities or other liquid financial","page_number":6,"box":{"x":651,"y":634,"width":242,"height":11}},{"id":"8aaa1e76-387b-496c-a7cd-fdd218fa899a","block_type":"box","text":"assets, operating on the principle of","page_number":6,"box":{"x":651,"y":648,"width":265,"height":11}},{"id":"63543db2-e2ca-400e-a3b7-3c0ee680ced6","block_type":"box","text":"risk-spreading, with units which are, at","page_number":6,"box":{"x":652,"y":662,"width":283,"height":11}},{"id":"2a96b66d-2371-42ae-8afd-9a7ee0b35dd3","block_type":"box","text":"the request of holders, repurchased or","page_number":6,"box":{"x":651,"y":675,"width":284,"height":11}},{"id":"dbdc152d-0750-4504-aabc-391e677d85e3","block_type":"box","text":"redeemed, directly or indirectly, out of","page_number":6,"box":{"x":652,"y":689,"width":279,"height":11}},{"id":"e79ba765-015a-4145-b6c9-509f9e7db74e","block_type":"box","text":"those undertakings’ assets, and which","page_number":6,"box":{"x":651,"y":703,"width":282,"height":11}},{"id":"7780a9b6-0d6e-4934-83de-c46a4f02c367","block_type":"box","text":"has identified itself as a UCITS in its","page_number":6,"box":{"x":652,"y":716,"width":267,"height":9}},{"id":"bb0a58f6-469c-49ff-b1d8-01404c2f84f5","block_type":"box","text":"prospectus and has been authorised","page_number":6,"box":{"x":652,"y":730,"width":269,"height":11}},{"id":"977d268a-1e19-44c6-9560-d3a21e28c5bb","block_type":"box","text":"accordingly by the FCA.","page_number":6,"box":{"x":651,"y":743,"width":177,"height":12}},{"id":"16853f79-251c-4721-80d0-ead84dbe17df","block_type":"box","text":"Unit(s)","page_number":6,"box":{"x":533,"y":769,"width":47,"height":11}},{"id":"e378ac7b-0790-47a9-b24f-939f8e71f396","block_type":"box","text":"A unit or units representing the rights","page_number":6,"box":{"x":651,"y":769,"width":274,"height":11}},{"id":"d8ddd386-a5e9-452e-a411-99618c0b148e","block_type":"box","text":"and interests of a Unitholder in a Sub","page_number":6,"box":{"x":651,"y":782,"width":281,"height":9}},{"id":"acad2ca6-fa56-440b-9fe3-38679f2eff63","block_type":"box","text":"Fund.","page_number":6,"box":{"x":652,"y":796,"width":40,"height":9}},{"id":"57cc3141-3a28-4391-bcc0-eb0f902a5023","block_type":"box","text":"Unit Class","page_number":6,"box":{"x":533,"y":822,"width":74,"height":9}},{"id":"d9cb16dc-e4bb-4a7e-b13b-6cf360e3ddf7","block_type":"box","text":"Any class of Units. A Unit Class may","page_number":6,"box":{"x":651,"y":822,"width":271,"height":11}},{"id":"168d105b-393e-4aa7-81f9-4bf3c1ec647d","block_type":"box","text":"have its own cost and fee structure,","page_number":6,"box":{"x":652,"y":835,"width":262,"height":11}},{"id":"8fac7d9b-a4ee-4bc1-aa36-b9fd63f1e53d","block_type":"box","text":"currency denomination, hedging","page_number":6,"box":{"x":652,"y":849,"width":237,"height":11}},{"id":"2c44a7eb-e492-41f9-9e17-2b9e2f51edc4","block_type":"box","text":"policy, minimums, holding amounts,","page_number":6,"box":{"x":652,"y":863,"width":263,"height":11}},{"id":"c5c6c167-04c7-4a13-b7ac-5435b62b53f4","block_type":"box","text":"investor eligibility criteria, tax","page_number":6,"box":{"x":652,"y":877,"width":213,"height":11}},{"id":"3e2f3847-a261-4827-99bf-a39f2d05a381","block_type":"box","text":"characteristics and other features.","page_number":6,"box":{"x":652,"y":890,"width":250,"height":9}},{"id":"567bf252-3f64-4c13-b86b-33cce171a6cb","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 7","page_number":7,"box":{"x":62,"y":929,"width":316,"height":8}},{"id":"180fe94d-b366-4868-b7ed-961d28067196","block_type":"box","text":"Unitholder","page_number":7,"box":{"x":72,"y":52,"width":75,"height":9}},{"id":"15590c5a-6182-44b6-a321-e6113e4eb5dd","block_type":"box","text":"In relation to a Class or Sub-Fund","page_number":7,"box":{"x":191,"y":52,"width":249,"height":8}},{"id":"fba3db0f-2db3-49e1-b1ec-476b665479f1","block_type":"box","text":"means a person who is on the register","page_number":7,"box":{"x":191,"y":65,"width":283,"height":11}},{"id":"3f193dc9-0dd3-418b-8a11-374eb08048ab","block_type":"box","text":"as a unitholder in that Class or Sub","page_number":7,"box":{"x":190,"y":79,"width":266,"height":9}},{"id":"9e88dd6d-b3a5-47bb-9386-216964f0a141","block_type":"box","text":"Fund at that time.","page_number":7,"box":{"x":191,"y":93,"width":128,"height":8}},{"id":"2c646f04-b811-49ee-84a7-a9691b43601a","block_type":"box","text":"Unitholder","page_number":7,"box":{"x":72,"y":118,"width":75,"height":9}},{"id":"9b511d3e-3ac9-403f-b2cc-20c840d03c56","block_type":"box","text":"Documents","page_number":7,"box":{"x":72,"y":132,"width":83,"height":9}},{"id":"931af1e6-f607-48a8-8e0d-cae4124f5b58","block_type":"box","text":"Collectively, the Form, an Investor","page_number":7,"box":{"x":190,"y":118,"width":254,"height":11}},{"id":"7585b351-8cbe-4af3-aeca-0886b902aaf6","block_type":"box","text":"Agreement, the Power of Attorney, the","page_number":7,"box":{"x":190,"y":132,"width":285,"height":11}},{"id":"ca6e6765-e7f6-4585-8cea-fe1e9a90291d","block_type":"box","text":"Prospectus and the ACS Deed.","page_number":7,"box":{"x":191,"y":145,"width":230,"height":12}},{"id":"34c43596-5858-4811-8c75-fc3650c2b317","block_type":"box","text":"US Persons","page_number":7,"box":{"x":72,"y":171,"width":87,"height":9}},{"id":"1fffb358-1d9c-4652-ba6e-1d86d57c27b6","block_type":"box","text":"Means any US resident or other","page_number":7,"box":{"x":191,"y":171,"width":236,"height":11}},{"id":"6a3e13e4-8499-4f4a-bc92-b93590d84f61","block_type":"box","text":"person specified in Regulation S under","page_number":7,"box":{"x":191,"y":185,"width":287,"height":11}},{"id":"7254efe9-3c98-4fb2-b1e9-c4f41b092322","block_type":"box","text":"the United States Securities Act 1933,","page_number":7,"box":{"x":190,"y":198,"width":281,"height":11}},{"id":"d8ef61fd-4421-43ab-901e-6151f9132be3","block_type":"box","text":"as amended from time to time and as","page_number":7,"box":{"x":190,"y":212,"width":276,"height":9}},{"id":"8806c69e-158a-4ed1-8c17-5f05e031a08a","block_type":"box","text":"may be further supplemented by the","page_number":7,"box":{"x":191,"y":226,"width":267,"height":11}},{"id":"05024eaa-35bb-47df-b0b3-cf795b6afa23","block_type":"box","text":"ACS Manager.","page_number":7,"box":{"x":190,"y":239,"width":108,"height":12}},{"id":"158457e4-d6b0-427b-b692-9ed3332f7b13","block_type":"box","text":"Valuation","page_number":7,"box":{"x":71,"y":265,"width":68,"height":9}},{"id":"06aebc64-f1fc-4563-98be-f86b6d918c7b","block_type":"box","text":"Point","page_number":7,"box":{"x":72,"y":279,"width":36,"height":8}},{"id":"2ad681d8-61d5-4ecd-b71d-e386c1f13b77","block_type":"box","text":"The point, whether on a periodic basis","page_number":7,"box":{"x":190,"y":265,"width":282,"height":11}},{"id":"b2d237c8-0475-42a2-87c1-4c34596d0905","block_type":"box","text":"or for a particular valuation, at which","page_number":7,"box":{"x":190,"y":279,"width":268,"height":11}},{"id":"7c68edc5-7a4b-44d8-9fa1-889511b93e33","block_type":"box","text":"the ACS Manager carries out a","page_number":7,"box":{"x":190,"y":292,"width":230,"height":11}},{"id":"8e054711-910b-484c-a682-fb3c681ed4b4","block_type":"box","text":"valuation of the Scheme property for","page_number":7,"box":{"x":190,"y":306,"width":270,"height":11}},{"id":"308fd458-6b3c-4a33-90d2-1ccc960b0bc0","block_type":"box","text":"the Sub-Funds for the purpose of","page_number":7,"box":{"x":190,"y":319,"width":246,"height":12}},{"id":"5e5ba422-0569-49d1-b8ae-7d753563c89b","block_type":"box","text":"determining the price at which Units of","page_number":7,"box":{"x":190,"y":333,"width":284,"height":11}},{"id":"75f413e5-93cf-4806-a4ac-55f5d40adc09","block_type":"box","text":"a class may be issued, cancelled or","page_number":7,"box":{"x":190,"y":347,"width":265,"height":11}},{"id":"deabb412-f056-4bd9-8d8a-de059ebf3a89","block_type":"box","text":"redeemed. The Valuation Point for","page_number":7,"box":{"x":191,"y":360,"width":254,"height":9}},{"id":"a632b533-07a7-46a9-b35e-b577c80c8580","block_type":"box","text":"each Sub-Fund is set out in Appendix","page_number":7,"box":{"x":190,"y":374,"width":279,"height":11}},{"id":"197886f3-b2cc-4480-802c-3c020b60fa20","block_type":"box","text":"1.","page_number":7,"box":{"x":191,"y":388,"width":11,"height":8}},{"id":"5dd96816-40bd-407b-b09e-cbdc6c0b5fd5","block_type":"box","text":"4. The ACS Manager","page_number":7,"box":{"x":74,"y":419,"width":190,"height":11}},{"id":"d99876ec-4f87-4cbc-96fc-fd60f83b27b7","block_type":"box","text":"The ACS Manager (Registered Company No.","page_number":7,"box":{"x":62,"y":439,"width":399,"height":11}},{"id":"62eabf8c-66aa-43f4-b037-993891a12446","block_type":"box","text":"01973412) is a limited company incorporated in","page_number":7,"box":{"x":62,"y":452,"width":399,"height":12}},{"id":"9d4f0ec8-4cdc-4c08-8e28-99266371d8ac","block_type":"box","text":"England and Wales on 20 December 1985. It is a","page_number":7,"box":{"x":63,"y":466,"width":399,"height":11}},{"id":"3ae33f29-e396-461a-8274-1b8f01fc7fa3","block_type":"box","text":"subsidiary of Aviva Investors Holdings Limited and","page_number":7,"box":{"x":62,"y":480,"width":399,"height":11}},{"id":"7a78ee44-a1b3-486c-b82f-e6f0d3d1e50a","block_type":"box","text":"forms part of the Aviva Group. The ACS Manager is","page_number":7,"box":{"x":62,"y":493,"width":399,"height":12}},{"id":"809d7128-2af6-4cac-bbbb-d2493ef65613","block_type":"box","text":"authorised and regulated by the FCA with permission","page_number":7,"box":{"x":62,"y":507,"width":399,"height":11}},{"id":"855441d2-b1b3-40f1-ac5f-880838ca9f20","block_type":"box","text":"to carry on the activity of 'managing a UK AIF'. As such,","page_number":7,"box":{"x":62,"y":521,"width":398,"height":11}},{"id":"83b15047-8cec-4ddb-a3f2-e8569977434b","block_type":"box","text":"the ACS Manager has been appointed to be the UK","page_number":7,"box":{"x":62,"y":534,"width":400,"height":12}},{"id":"4fd12f23-fb0f-45a2-a242-877f37066d01","block_type":"box","text":"AIFM of the Scheme, which is an alternative","page_number":7,"box":{"x":62,"y":548,"width":399,"height":10}},{"id":"6a7d7933-530f-463f-804a-1f4892b3bb23","block_type":"box","text":"investment fund, or 'UK AIF', for the purposes of the","page_number":7,"box":{"x":62,"y":562,"width":399,"height":11}},{"id":"b24b53a7-bce6-4480-9d3d-d8e798dce94c","block_type":"box","text":"UK AIFM Regime.","page_number":7,"box":{"x":63,"y":575,"width":132,"height":12}},{"id":"bebbf75d-0b00-4dc8-90b9-19c320c7b638","block_type":"box","text":"The ACS Deed contains provisions governing the","page_number":7,"box":{"x":62,"y":595,"width":399,"height":11}},{"id":"8b241505-aae0-4327-a952-7caacccdd101","block_type":"box","text":"responsibilities of the ACS Manager in relation to the","page_number":7,"box":{"x":63,"y":609,"width":398,"height":11}},{"id":"d376c5c4-6944-4501-9dd9-a2f3435e8597","block_type":"box","text":"management and administration of the Scheme and","page_number":7,"box":{"x":62,"y":622,"width":399,"height":11}},{"id":"0f7aedce-3428-4524-bd18-0252e0bb16c0","block_type":"box","text":"the issue, cancellation and redemption of the Units.","page_number":7,"box":{"x":62,"y":636,"width":398,"height":11}},{"id":"907f5042-f4de-47a5-a161-80b7bb00a0c1","block_type":"box","text":"The ACS Manager, as the alternative investment fund","page_number":7,"box":{"x":62,"y":650,"width":399,"height":11}},{"id":"7e3f344b-0324-4b18-b12c-7d925ba0e69d","block_type":"box","text":"manager of the Scheme, is responsible for the portfolio","page_number":7,"box":{"x":62,"y":663,"width":399,"height":12}},{"id":"de1a731e-483a-4a7c-95cb-9f4980cc42da","block_type":"box","text":"management of the Scheme and exercising the risk","page_number":7,"box":{"x":62,"y":677,"width":400,"height":11}},{"id":"02e0d3d5-1a56-43b6-beca-0a89b69c00f8","block_type":"box","text":"management function in respect of the Scheme. In","page_number":7,"box":{"x":62,"y":691,"width":399,"height":11}},{"id":"89d0e351-c731-44eb-bb9e-e844a2340164","block_type":"box","text":"addition, the ACS Manager's duties include to acquire,","page_number":7,"box":{"x":62,"y":704,"width":399,"height":11}},{"id":"d0ea855d-d84c-40a6-a774-75eb35c8961b","block_type":"box","text":"manage and dispose of the property which is subject","page_number":7,"box":{"x":62,"y":718,"width":400,"height":11}},{"id":"a1b397cb-4d50-4e88-9bef-77912bb01d9c","block_type":"box","text":"to the Scheme from time to time and enter into","page_number":7,"box":{"x":62,"y":731,"width":399,"height":9}},{"id":"0258c9d2-ba5d-4038-85ce-d4e98e1dfc7b","block_type":"box","text":"'Authorised Contracts' which are binding on the","page_number":7,"box":{"x":62,"y":745,"width":399,"height":11}},{"id":"6c628cf5-30fe-4d46-a84e-9cc654aacfd5","block_type":"box","text":"Unitholders.","page_number":7,"box":{"x":63,"y":759,"width":86,"height":9}},{"id":"d79d175d-70a5-411f-9fe4-99b1263586d1","block_type":"box","text":"As the alternative investment fund","page_number":7,"box":{"x":166,"y":759,"width":295,"height":9}},{"id":"d56a0847-b5b5-461f-8d6f-84e0b5b9ae6a","block_type":"box","text":"manager of the Scheme, the ACS Manager is also","page_number":7,"box":{"x":62,"y":772,"width":399,"height":12}},{"id":"4f2333f2-be8c-4da2-b192-2ccb15c20076","block_type":"box","text":"responsible for ensuring compliance with the UK AIFM","page_number":7,"box":{"x":63,"y":786,"width":398,"height":11}},{"id":"3a1c1298-6bf2-4d77-89b5-df26ace7ae35","block_type":"box","text":"Regime in respect of the Scheme. Professional liability","page_number":7,"box":{"x":63,"y":800,"width":399,"height":11}},{"id":"525496ec-0695-4573-b50d-f41c6bbfc985","block_type":"box","text":"risks resulting from those activities which the ACS","page_number":7,"box":{"x":63,"y":813,"width":398,"height":12}},{"id":"a4e31837-e5b5-4b4b-9c61-563bbf467fee","block_type":"box","text":"Manager carries out pursuant to the UK AIFM Regime,","page_number":7,"box":{"x":63,"y":827,"width":397,"height":11}},{"id":"d912fbd9-ae18-45fa-8c3a-9d11e707216c","block_type":"box","text":"are covered by the ACS Manager through 'own funds'","page_number":7,"box":{"x":62,"y":841,"width":399,"height":11}},{"id":"5e74e5de-82cc-455f-b323-08ed5197c30c","block_type":"box","text":"(within the meaning of the UK AIFM Regime).","page_number":7,"box":{"x":63,"y":854,"width":335,"height":12}},{"id":"e5f0ca68-135f-464a-b2ef-cf8b09ffc269","block_type":"box","text":"The ACS Manager may delegate certain of its","page_number":7,"box":{"x":62,"y":874,"width":399,"height":11}},{"id":"337f1a87-446a-49dd-a499-1bbe980cd3a3","block_type":"box","text":"functions to third parties; however, these functions","page_number":7,"box":{"x":62,"y":888,"width":399,"height":11}},{"id":"b2b5cc25-d17c-4147-81ee-9751f93340bb","block_type":"box","text":"remain the responsibility of the ACS Manager. Further","page_number":7,"box":{"x":63,"y":901,"width":399,"height":12}},{"id":"9100e227-e632-4cc9-8555-50f1d30d07e0","block_type":"box","text":"details of the functions currently delegated by the ACS","page_number":7,"box":{"x":523,"y":46,"width":399,"height":11}},{"id":"cadcf732-2bd7-4fe8-8ef2-bf7a81f908d6","block_type":"box","text":"Manager are set out in sections 6 to 9.","page_number":7,"box":{"x":524,"y":60,"width":283,"height":11}},{"id":"966979e9-50f2-4a6c-a320-20fb5eda61f5","block_type":"box","text":"The registered office of the ACS Manager is 80","page_number":7,"box":{"x":523,"y":79,"width":400,"height":11}},{"id":"fba71b89-e84d-4633-96be-f609a0a0d748","block_type":"box","text":"Fenchurch Street, London, EC3M 4AE.","page_number":7,"box":{"x":524,"y":93,"width":288,"height":10}},{"id":"8a1cab76-3156-429b-8d59-470a0179cb03","block_type":"box","text":"The issued and paid-up share capital of the ACS","page_number":7,"box":{"x":523,"y":112,"width":399,"height":11}},{"id":"30f8ba8c-ccfd-4f83-8b65-a95a1bf7a59b","block_type":"box","text":"Manager is twenty one million five hundred thousand","page_number":7,"box":{"x":524,"y":126,"width":398,"height":11}},{"id":"b34ec233-71f8-4544-9c00-74e63f902430","block_type":"box","text":"ordinary shares of £1.","page_number":7,"box":{"x":523,"y":140,"width":160,"height":11}},{"id":"8f511772-890e-4d7e-91dd-0c70da54d8be","block_type":"box","text":"The ACS Manager also acts as the ACS Manager to","page_number":7,"box":{"x":523,"y":159,"width":400,"height":11}},{"id":"56969b36-830f-4669-bc2b-06ff5c6d1730","block_type":"box","text":"another authorised contractual scheme as more fully","page_number":7,"box":{"x":523,"y":173,"width":400,"height":11}},{"id":"a6bd4720-27fe-46bd-a456-59fbcaa24a0d","block_type":"box","text":"described in Appendix 5.","page_number":7,"box":{"x":523,"y":187,"width":182,"height":11}},{"id":"8d04aac6-e8cc-46ca-9b56-22d4fe3b9de2","block_type":"box","text":"The directors of Aviva Investors UK Fund Services","page_number":7,"box":{"x":523,"y":206,"width":400,"height":9}},{"id":"f1103afe-3862-4da4-a06a-1b3aba9e383a","block_type":"box","text":"Limited, as at the date of this Prospectus, are named","page_number":7,"box":{"x":524,"y":220,"width":398,"height":11}},{"id":"43420f0a-33ed-4a5e-9341-dd4406d6603e","block_type":"box","text":"below:","page_number":7,"box":{"x":524,"y":234,"width":46,"height":8}},{"id":"f64745d4-154f-4478-ba7f-4aa5650194d8","block_type":"box","text":"J Barber","page_number":7,"box":{"x":523,"y":253,"width":63,"height":9}},{"id":"acbd9920-87be-4e09-af46-5df97e028eab","block_type":"box","text":"M Bell","page_number":7,"box":{"x":524,"y":273,"width":44,"height":8}},{"id":"7e95e75e-d190-4879-bb8c-4026f338d062","block_type":"box","text":"M Kingdon","page_number":7,"box":{"x":524,"y":292,"width":78,"height":11}},{"id":"2663f17e-ddf0-4e12-b6c4-20af6b215e7b","block_type":"box","text":"J Lowe","page_number":7,"box":{"x":523,"y":312,"width":52,"height":9}},{"id":"f42e9ff0-d0bd-4ca1-87c4-b4fe22b5b3e4","block_type":"box","text":"K McClellan","page_number":7,"box":{"x":524,"y":331,"width":87,"height":9}},{"id":"ef5ca171-2def-4372-9510-3b3c785da696","block_type":"box","text":"G Speirs","page_number":7,"box":{"x":523,"y":351,"width":64,"height":11}},{"id":"bbcec8f7-372f-412f-8b02-fb73967c4eb8","block_type":"box","text":"All the above directors have various responsibilities","page_number":7,"box":{"x":523,"y":371,"width":400,"height":11}},{"id":"3f9a4908-f47d-4e77-a5e7-d3655339f887","block_type":"box","text":"within the Aviva Group. None of the directors' main","page_number":7,"box":{"x":523,"y":384,"width":399,"height":11}},{"id":"98476bd4-3bc5-4335-b955-20aecad547aa","block_type":"box","text":"business activities (which are not connected with the","page_number":7,"box":{"x":524,"y":398,"width":399,"height":11}},{"id":"186b7661-2f5b-4215-a31d-b4026c4687ef","block_type":"box","text":"business of the ACS Manager or any of its associates)","page_number":7,"box":{"x":524,"y":411,"width":398,"height":12}},{"id":"845fc1da-ad55-4849-8d44-5a6aa4822105","block_type":"box","text":"is of significance to the Scheme's business.","page_number":7,"box":{"x":524,"y":425,"width":321,"height":11}},{"id":"51fec89f-8750-485b-ad53-804610c567c8","block_type":"box","text":"The ACS Manager maintains a conflicts of interest","page_number":7,"box":{"x":523,"y":445,"width":400,"height":11}},{"id":"5286c907-0632-4670-9d39-a6ca50f16a20","block_type":"box","text":"policy.","page_number":7,"box":{"x":524,"y":459,"width":45,"height":11}},{"id":"9cbf8fb1-6a03-4282-aa66-ccf58ed3f563","block_type":"box","text":"5. The Depositary","page_number":7,"box":{"x":535,"y":484,"width":168,"height":11}},{"id":"34a94ce8-4044-40b0-bed7-982e18815a9c","block_type":"box","text":"The Bank of New York Mellon (International) Limited is","page_number":7,"box":{"x":523,"y":503,"width":400,"height":12}},{"id":"f7fb0619-c828-4d26-b73b-e15d87080f22","block_type":"box","text":"the depositary of the Scheme and, for the avoidance","page_number":7,"box":{"x":523,"y":517,"width":400,"height":11}},{"id":"ad238c05-f5e8-412c-863d-e1991c70dcd3","block_type":"box","text":"of doubt, acts as the global custodian to the Scheme.","page_number":7,"box":{"x":523,"y":531,"width":393,"height":11}},{"id":"700e26f4-f4ce-4be2-80a8-75387c043483","block_type":"box","text":"The Depositary is a private company limited by shares","page_number":7,"box":{"x":523,"y":551,"width":400,"height":11}},{"id":"d7d73658-8854-4748-939a-dc71b807c7ff","block_type":"box","text":"incorporated in England and Wales on 9 August 1996.","page_number":7,"box":{"x":524,"y":564,"width":398,"height":11}},{"id":"015fa94e-d977-44db-8002-f4154f088e50","block_type":"box","text":"Its ultimate holding company is The Bank of New York","page_number":7,"box":{"x":524,"y":578,"width":399,"height":11}},{"id":"4b610177-ba27-4d5c-9907-5dd675ead511","block_type":"box","text":"Mellon Corporation, a public company incorporated in","page_number":7,"box":{"x":524,"y":591,"width":398,"height":12}},{"id":"000f1b05-373b-49cb-826a-414c0a8cdc83","block_type":"box","text":"the United States. The registered office address is at","page_number":7,"box":{"x":523,"y":605,"width":400,"height":11}},{"id":"99977e72-aa12-4f91-bd07-a642dbe4aebb","block_type":"box","text":"160 Queen Victoria Street, London, EC4V 4LA.","page_number":7,"box":{"x":524,"y":619,"width":348,"height":10}},{"id":"bdf9c32a-e702-40e6-a0f9-c212a5e82190","block_type":"box","text":"The principal business activity of the Depositary is the","page_number":7,"box":{"x":523,"y":646,"width":400,"height":11}},{"id":"325c2732-61cd-4aeb-b3ca-617ad96f45a6","block_type":"box","text":"provision of custodial, banking and related financial","page_number":7,"box":{"x":524,"y":660,"width":398,"height":11}},{"id":"23907a56-0948-4fb4-8167-514c3011f7e9","block_type":"box","text":"services. The Depositary is authorised by the","page_number":7,"box":{"x":523,"y":674,"width":400,"height":11}},{"id":"f1530007-8522-40bb-9c54-55ebdf612245","block_type":"box","text":"Prudential Regulation Authority and is dual-regulated","page_number":7,"box":{"x":524,"y":687,"width":399,"height":11}},{"id":"49b21c67-5a38-4b17-afe4-50c079c14e14","block_type":"box","text":"by the Financial Conduct Authority and the Prudential","page_number":7,"box":{"x":524,"y":701,"width":398,"height":11}},{"id":"db4b40eb-f7a3-4581-9f2c-7094628f8e1e","block_type":"box","text":"Regulation Authority.","page_number":7,"box":{"x":524,"y":714,"width":153,"height":12}},{"id":"014a51bd-cf34-4ea1-b7e1-906b11e512a0","block_type":"box","text":"Terms of Appointment","page_number":7,"box":{"x":523,"y":742,"width":178,"height":11}},{"id":"22c66126-817f-479d-8a60-a4f13c94d395","block_type":"box","text":"The ACS Manager, acting for and on behalf of the","page_number":7,"box":{"x":523,"y":769,"width":400,"height":11}},{"id":"8a702b52-b88e-407a-bd63-d8e07950e6e9","block_type":"box","text":"Scheme, is required to enter into a written contract with","page_number":7,"box":{"x":523,"y":782,"width":399,"height":12}},{"id":"14e9d9d5-1da3-436f-82d6-53fb74aae07a","block_type":"box","text":"the Depositary to evidence its appointment. The","page_number":7,"box":{"x":523,"y":796,"width":400,"height":11}},{"id":"9afbe310-669f-4a34-9f11-89fe42af6577","block_type":"box","text":"Depositary was appointed under an agreement that","page_number":7,"box":{"x":524,"y":810,"width":399,"height":11}},{"id":"e1409cc4-a905-4685-a655-9872d21076c7","block_type":"box","text":"took effect on 7 September 2026 (the “Depositary","page_number":7,"box":{"x":523,"y":824,"width":400,"height":11}},{"id":"367e400a-9d3a-4f43-b36f-cc52c8acd255","block_type":"box","text":"Agreement”). Information on the Depositary’s","page_number":7,"box":{"x":523,"y":837,"width":400,"height":12}},{"id":"5c767fe7-9cf6-425a-af2f-d1b273828c4c","block_type":"box","text":"remuneration is set out in Section 28 (“Charges”) of","page_number":7,"box":{"x":524,"y":851,"width":399,"height":11}},{"id":"faa6317e-e2d9-4262-a397-999bf5e81e32","block_type":"box","text":"this Prospectus.","page_number":7,"box":{"x":523,"y":865,"width":118,"height":11}},{"id":"4cb7bbe7-11b6-49c1-be57-e1c6e7882f16","block_type":"box","text":"Duties of the Depositary","page_number":7,"box":{"x":524,"y":892,"width":192,"height":11}},{"id":"875d0e14-92e6-449c-82c1-8b0c8ee2e4a5","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 8","page_number":8,"box":{"x":62,"y":929,"width":316,"height":8}},{"id":"1c14e981-a289-4daf-be34-16ceefa89f77","block_type":"box","text":"The Depositary is responsible for the safekeeping of","page_number":8,"box":{"x":62,"y":46,"width":400,"height":11}},{"id":"1ba695f2-eb16-4843-8326-b4d2ce2b1cc0","block_type":"box","text":"the property of the Scheme, monitoring the cash flows","page_number":8,"box":{"x":62,"y":59,"width":399,"height":12}},{"id":"02b2cd70-182d-4b2e-9c03-27203d89427d","block_type":"box","text":"of the Scheme, and must ensure that certain","page_number":8,"box":{"x":62,"y":73,"width":399,"height":10}},{"id":"b7afe95e-1c28-4d8c-bf89-b028baed145d","block_type":"box","text":"processes carried out by the ACS Manager are","page_number":8,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"5c089996-c4a6-48aa-8725-c1169e3912a6","block_type":"box","text":"performed in accordance with the applicable rules and","page_number":8,"box":{"x":62,"y":100,"width":399,"height":11}},{"id":"7bbc7808-44c8-40f3-8b29-8d9d5e57cb76","block_type":"box","text":"the constitutive documents of the Scheme.","page_number":8,"box":{"x":62,"y":114,"width":314,"height":9}},{"id":"0eadea45-0ac6-4884-a39f-5f090056e1a0","block_type":"box","text":"Delegation of Safekeeping Functions","page_number":8,"box":{"x":63,"y":141,"width":293,"height":12}},{"id":"55129e10-fa01-4b26-a468-1ff97b685985","block_type":"box","text":"The Depositary acts as global custodian and may","page_number":8,"box":{"x":62,"y":169,"width":400,"height":11}},{"id":"3562e02a-bf1d-4c24-afb8-08828959d57f","block_type":"box","text":"delegate safekeeping to one or more global sub","page_number":8,"box":{"x":62,"y":182,"width":399,"height":12}},{"id":"d30a3372-e1bf-498d-9193-8cb93ebc4d1a","block_type":"box","text":"custodians (such delegation may include the powers","page_number":8,"box":{"x":62,"y":196,"width":399,"height":11}},{"id":"4dc3affe-a612-4977-a543-bf7c5855eb40","block_type":"box","text":"of sub-delegation). The Depositary has delegated","page_number":8,"box":{"x":62,"y":210,"width":399,"height":11}},{"id":"b80f7579-1e98-48cf-83cb-4de2505d22d5","block_type":"box","text":"safekeeping of the assets of the Scheme to The Bank","page_number":8,"box":{"x":62,"y":223,"width":400,"height":12}},{"id":"085c755b-52dd-4e53-9140-3f03ff507d69","block_type":"box","text":"of New York Mellon SA/NV and/or The Bank of New","page_number":8,"box":{"x":62,"y":237,"width":400,"height":9}},{"id":"2274ae93-d75c-47a9-9aa9-09bf7ccb39e5","block_type":"box","text":"York Mellon (the “Global Sub-Custodians”).","page_number":8,"box":{"x":62,"y":250,"width":319,"height":12}},{"id":"4c8f1c5a-fdc3-4ea8-b33f-0271682fe069","block_type":"box","text":"The Global Sub-Custodians may sub-delegate","page_number":8,"box":{"x":62,"y":278,"width":399,"height":11}},{"id":"e2c58164-3b2a-42ac-a683-6665e8ad6509","block_type":"box","text":"safekeeping of assets in certain markets in which the","page_number":8,"box":{"x":62,"y":292,"width":399,"height":11}},{"id":"962f032d-c2e8-4703-abe4-940455e296d1","block_type":"box","text":"Scheme may invest to various sub-delegates.","page_number":8,"box":{"x":62,"y":305,"width":337,"height":11}},{"id":"3ac14b64-6ab8-4292-826d-92bf57a26a5c","block_type":"box","text":"Conflicts of interest","page_number":8,"box":{"x":62,"y":332,"width":157,"height":9}},{"id":"f358aa4c-9f3e-40df-a725-63aaf751bff6","block_type":"box","text":"For the purposes of this section, the following","page_number":8,"box":{"x":63,"y":360,"width":398,"height":11}},{"id":"87c2bf7c-72b6-4674-8032-95d4ed8b68d2","block_type":"box","text":"definitions shall apply:","page_number":8,"box":{"x":62,"y":374,"width":162,"height":11}},{"id":"2fdf5f0d-eed6-4945-83a3-612df5cc3e3e","block_type":"box","text":"“","page_number":8,"box":{"x":62,"y":401,"width":5,"height":3}},{"id":"c1fa3d4d-90b9-484a-bb95-0aa979e86e7e","block_type":"box","text":"BNY Mellon Affiliate","page_number":8,"box":{"x":68,"y":401,"width":158,"height":9}},{"id":"24de7683-113f-40b2-87b7-1af6506035b9","block_type":"box","text":"” means any entity in which The","page_number":8,"box":{"x":227,"y":401,"width":234,"height":11}},{"id":"c9b6129c-3d24-408f-9b75-479576532c08","block_type":"box","text":"Bank of New York Mellon Corporation (a Delaware","page_number":8,"box":{"x":63,"y":414,"width":398,"height":12}},{"id":"9193e104-a532-4442-92fb-57f34f224d60","block_type":"box","text":"corporation with registered office at 240 Greenwich St,","page_number":8,"box":{"x":62,"y":428,"width":399,"height":11}},{"id":"54029edd-4810-4534-a64d-33562d22d5dc","block_type":"box","text":"New York, New York 10286, U.S.A) controls (directly","page_number":8,"box":{"x":63,"y":442,"width":399,"height":11}},{"id":"df09b16f-72b1-42a4-a4d6-441df8f09e1f","block_type":"box","text":"or indirectly) an interest of no less than 30% in the","page_number":8,"box":{"x":62,"y":455,"width":399,"height":12}},{"id":"5375fe75-cebc-480d-9a07-8f2f39229fe5","block_type":"box","text":"voting stock or interests in such entity.","page_number":8,"box":{"x":62,"y":469,"width":282,"height":11}},{"id":"975e5809-a03d-467d-8360-34990b4e14dd","block_type":"box","text":"“","page_number":8,"box":{"x":62,"y":496,"width":5,"height":3}},{"id":"5c2403a5-be9f-485c-8323-79bf45f94418","block_type":"box","text":"Link","page_number":8,"box":{"x":68,"y":496,"width":34,"height":9}},{"id":"37cc9c5f-a8e9-4344-93e0-f36555bfcc18","block_type":"box","text":"” means a situation in which two or more natural","page_number":8,"box":{"x":102,"y":497,"width":359,"height":8}},{"id":"fdb658d4-ca18-4b93-b999-62612cb8e0aa","block_type":"box","text":"or legal persons are either linked by a direct or indirect","page_number":8,"box":{"x":62,"y":510,"width":400,"height":11}},{"id":"04cece78-3bf2-401b-be18-77e66ed24497","block_type":"box","text":"holding in an undertaking which represents 10% or","page_number":8,"box":{"x":62,"y":524,"width":400,"height":11}},{"id":"ef6d05a4-bf8f-45e3-9952-4bff42fd828e","block_type":"box","text":"more of the capital or of the voting rights or which","page_number":8,"box":{"x":62,"y":537,"width":399,"height":12}},{"id":"8a826d1d-e4a4-4ab3-96c2-82293cd66a57","block_type":"box","text":"makes it possible to exercise a significant influence","page_number":8,"box":{"x":62,"y":551,"width":399,"height":11}},{"id":"7f4b3950-dadd-4eab-b30b-cfec4913783f","block_type":"box","text":"over the management of the undertaking in which that","page_number":8,"box":{"x":62,"y":565,"width":400,"height":11}},{"id":"85052c89-bc5f-4886-81ce-d5771882fdfb","block_type":"box","text":"holding subsists.","page_number":8,"box":{"x":62,"y":578,"width":122,"height":12}},{"id":"2b9cb421-7044-4ccb-9a47-8b9e43a285c9","block_type":"box","text":"“","page_number":8,"box":{"x":62,"y":606,"width":5,"height":3}},{"id":"94a0cb86-e66c-4194-95a0-a4c94f6b1b49","block_type":"box","text":"Group Link","page_number":8,"box":{"x":68,"y":606,"width":89,"height":11}},{"id":"c5be1853-8e83-4b97-927c-708f80a778c6","block_type":"box","text":"” means a situation in which two or more","page_number":8,"box":{"x":158,"y":606,"width":303,"height":8}},{"id":"085304c2-8b08-4d19-956a-8934e250523b","block_type":"box","text":"undertakings or entities belong to the same group","page_number":8,"box":{"x":63,"y":620,"width":398,"height":11}},{"id":"a10f0b35-e228-4345-89a0-51fb50f69cf5","block_type":"box","text":"within the meaning of Article 2(11) of Directive","page_number":8,"box":{"x":62,"y":633,"width":399,"height":11}},{"id":"36c18ea8-d39c-4cc9-96c0-f629ceb1fd54","block_type":"box","text":"2013/34/EU, as implemented or given direct effect in","page_number":8,"box":{"x":62,"y":647,"width":399,"height":11}},{"id":"068ac713-e360-49ec-8d67-f55ab3486a36","block_type":"box","text":"the UK, or international accounting standards adopted","page_number":8,"box":{"x":62,"y":660,"width":399,"height":12}},{"id":"e6e25e83-4433-4096-a319-f5fd0596cd5f","block_type":"box","text":"in accordance with Regulation (EC) No. 1606/2002, as","page_number":8,"box":{"x":62,"y":674,"width":399,"height":11}},{"id":"a3bab54d-2118-4ce1-9e74-8e231d80ad93","block_type":"box","text":"it forms part of the law of the UK by virtue of the EU","page_number":8,"box":{"x":62,"y":688,"width":399,"height":11}},{"id":"6340c532-22e1-4efe-b445-d84fa8145197","block_type":"box","text":"Withdrawal Act 2018, as amended, modified and","page_number":8,"box":{"x":62,"y":701,"width":399,"height":11}},{"id":"1ef79a34-9244-460c-a932-6ee57ce1c7a7","block_type":"box","text":"reinstated from time to time, and any succeeding UK","page_number":8,"box":{"x":63,"y":715,"width":399,"height":11}},{"id":"5cd812eb-1d2f-41de-8c06-dd9417e4ebce","block_type":"box","text":"law or regulation which becomes enforceable by law","page_number":8,"box":{"x":62,"y":729,"width":400,"height":11}},{"id":"46acbf0b-83e6-4d6e-83e3-0972a0eaed09","block_type":"box","text":"from time to time.","page_number":8,"box":{"x":62,"y":742,"width":128,"height":9}},{"id":"4c4f5bc6-73af-46b7-9e88-44ca56379da2","block_type":"box","text":"Depositary, Scheme and ACS Manager","page_number":8,"box":{"x":63,"y":769,"width":294,"height":12}},{"id":"5fd2b4d1-2c92-441c-8da8-ac846fa9d1b5","block_type":"box","text":"The following conflicts of interests exist between the","page_number":8,"box":{"x":62,"y":797,"width":399,"height":11}},{"id":"c23de365-dbcf-4067-a5e1-b06649c813d2","block_type":"box","text":"Depositary, the Scheme and the ACS Manager:","page_number":8,"box":{"x":63,"y":810,"width":352,"height":12}},{"id":"6bc15dd9-0619-4e86-a1d2-7c0e3645b6ec","block_type":"box","text":"A Group Link where the ACS Manager has delegated","page_number":8,"box":{"x":62,"y":824,"width":399,"height":11}},{"id":"93662c55-0951-4985-87bd-14d725cec208","block_type":"box","text":"certain administrative functions, including but not","page_number":8,"box":{"x":62,"y":838,"width":400,"height":11}},{"id":"1b98ad0e-1579-42af-9ce7-9a0b07e5dc78","block_type":"box","text":"limited to Registrar, Transfer Agency, and Fund","page_number":8,"box":{"x":62,"y":852,"width":399,"height":11}},{"id":"41498811-d828-459a-9585-9f8429e96f3a","block_type":"box","text":"Accounting, to The Bank of New York Mellon","page_number":8,"box":{"x":62,"y":865,"width":399,"height":11}},{"id":"3d29a251-fbd5-49e7-81ea-525ea85cd666","block_type":"box","text":"(International) Limited or a BNY Mellon Affiliate.","page_number":8,"box":{"x":63,"y":879,"width":351,"height":11}},{"id":"6caa4cfd-4935-430f-96d4-5fb10a1eedfd","block_type":"box","text":"The Depositary shall ensure that policies and","page_number":8,"box":{"x":523,"y":46,"width":399,"height":11}},{"id":"fc470b65-100a-458e-ad63-629801e6d32e","block_type":"box","text":"procedures are in place to identify all conflicts of","page_number":8,"box":{"x":524,"y":59,"width":399,"height":12}},{"id":"1478621c-c3fa-42c6-b212-4bd811ac9758","block_type":"box","text":"interests arising from such Group Links and shall take","page_number":8,"box":{"x":524,"y":73,"width":399,"height":11}},{"id":"aef9dba8-5eb9-411d-aa48-79f19428d681","block_type":"box","text":"all reasonable steps to avoid such conflicts of interests.","page_number":8,"box":{"x":523,"y":87,"width":399,"height":11}},{"id":"3ed6c3a7-8851-4a5c-b9bb-b985ab766e35","block_type":"box","text":"Where such conflicts of interests cannot be avoided,","page_number":8,"box":{"x":523,"y":100,"width":399,"height":11}},{"id":"3760a065-ad6d-48ae-bc7a-26710ecb2410","block_type":"box","text":"the Depositary and the ACS Manager will ensure that","page_number":8,"box":{"x":523,"y":114,"width":400,"height":11}},{"id":"a55669f7-2a41-4337-9294-5c4c0e67b217","block_type":"box","text":"such conflicts of interests are managed, monitored and","page_number":8,"box":{"x":523,"y":128,"width":399,"height":11}},{"id":"32b89792-f629-474c-a19b-5b67fda855bb","block_type":"box","text":"disclosed in order to prevent adverse effects on the","page_number":8,"box":{"x":523,"y":141,"width":400,"height":11}},{"id":"f4a8038e-67ed-4b3e-a3d7-5f27e313b233","block_type":"box","text":"interests of the Scheme and its investors.","page_number":8,"box":{"x":524,"y":155,"width":304,"height":9}},{"id":"3f856b0a-4851-4e35-9fe2-a400d0f24fa2","block_type":"box","text":"If a Link exists between the Depositary and any","page_number":8,"box":{"x":524,"y":182,"width":399,"height":11}},{"id":"47710303-37ab-4c6e-9894-d8a8c22e9275","block_type":"box","text":"investors in the Scheme, the Depositary shall take all","page_number":8,"box":{"x":524,"y":196,"width":398,"height":11}},{"id":"71c9b909-f3d8-4bb0-ad26-bb3f197cc8b8","block_type":"box","text":"reasonable steps to avoid conflicts of interests arising","page_number":8,"box":{"x":524,"y":210,"width":398,"height":11}},{"id":"3a38d7ea-5930-4f2c-bf66-32f0cb40844a","block_type":"box","text":"from such Link.","page_number":8,"box":{"x":523,"y":223,"width":112,"height":9}},{"id":"a0826ceb-3831-414c-93f7-a5be2e6498dd","block_type":"box","text":"Delegation","page_number":8,"box":{"x":524,"y":251,"width":79,"height":11}},{"id":"39cab1a5-ad5f-4a58-891d-8bba6a4f4967","block_type":"box","text":"The following conflicts of interests exist as a result of","page_number":8,"box":{"x":523,"y":278,"width":400,"height":11}},{"id":"327743f3-d682-464d-b7f6-832eea014be9","block_type":"box","text":"the Depositary’s delegation arrangements relating to","page_number":8,"box":{"x":523,"y":292,"width":400,"height":11}},{"id":"e232af75-9c9b-4c5e-80e9-131bee9b154e","block_type":"box","text":"safekeeping outlined above:","page_number":8,"box":{"x":523,"y":305,"width":207,"height":11}},{"id":"9f7a50c9-418d-408d-9bfd-6b98fe7ea395","block_type":"box","text":"A Group Link where the Depositary has delegated, or","page_number":8,"box":{"x":523,"y":332,"width":400,"height":12}},{"id":"80ae0833-552a-4d36-9e31-8a5a0a13b944","block_type":"box","text":"where any Global Sub-Custodian has sub-delegated,","page_number":8,"box":{"x":523,"y":346,"width":399,"height":11}},{"id":"a3dc8079-20dc-4def-bb6a-ade655921d3b","block_type":"box","text":"the safekeeping of the Scheme Property to a BNY","page_number":8,"box":{"x":523,"y":360,"width":400,"height":11}},{"id":"395cbb47-7344-4f36-b4bf-543d0ae457f8","block_type":"box","text":"Mellon Affiliate.","page_number":8,"box":{"x":524,"y":374,"width":111,"height":8}},{"id":"04bfc00d-fa58-4c9e-ba5f-63e3d01e2788","block_type":"box","text":"The Depositary shall ensure that policies and","page_number":8,"box":{"x":523,"y":401,"width":399,"height":11}},{"id":"a371f98e-3662-4939-80b2-44435e628a03","block_type":"box","text":"procedures are in place to identify all conflicts of","page_number":8,"box":{"x":524,"y":414,"width":399,"height":12}},{"id":"5d7511e2-da1d-42b5-8cec-985173c6fd75","block_type":"box","text":"interests arising from such Group Links and shall take","page_number":8,"box":{"x":524,"y":428,"width":399,"height":11}},{"id":"288ba983-2ec1-421a-af68-b902327ff5e4","block_type":"box","text":"all reasonable steps to avoid such conflicts of interests.","page_number":8,"box":{"x":523,"y":442,"width":399,"height":11}},{"id":"e64644a9-5735-4057-8a1b-db443f0ffde0","block_type":"box","text":"Where such conflicts of interests cannot be avoided,","page_number":8,"box":{"x":523,"y":469,"width":399,"height":10}},{"id":"226e8790-378f-48f1-b892-12e28a31a1e6","block_type":"box","text":"the Depositary will ensure that such conflicts of","page_number":8,"box":{"x":523,"y":483,"width":400,"height":11}},{"id":"a08b89a6-8513-4837-b74e-0245b308e79c","block_type":"box","text":"interests are managed, monitored and disclosed in","page_number":8,"box":{"x":524,"y":497,"width":398,"height":11}},{"id":"d1dceade-6b74-4bcf-b5cf-9f58d956e345","block_type":"box","text":"order to prevent adverse effects on the interests of the","page_number":8,"box":{"x":523,"y":510,"width":400,"height":11}},{"id":"e1c34243-2898-4349-97b0-b0cf227484d6","block_type":"box","text":"Scheme and its investors.","page_number":8,"box":{"x":523,"y":524,"width":191,"height":9}},{"id":"9496e4f6-7591-4f71-aee5-9d3a23aa6f34","block_type":"box","text":"The Depositary may, from time to time, act as the","page_number":8,"box":{"x":523,"y":551,"width":400,"height":11}},{"id":"7a7a53da-ee11-46de-89bf-65a96c646c6e","block_type":"box","text":"depositary of other open-ended investment companies","page_number":8,"box":{"x":523,"y":565,"width":400,"height":11}},{"id":"f6fe443d-d6bf-45ee-a965-c3c429361d69","block_type":"box","text":"with variable capital and as trustee or custodian of","page_number":8,"box":{"x":523,"y":578,"width":400,"height":11}},{"id":"7efba714-5cb5-43c3-a309-3b5c3fc87e5c","block_type":"box","text":"other collective investment schemes.","page_number":8,"box":{"x":523,"y":592,"width":273,"height":9}},{"id":"d2fd8dc0-3c52-4631-bfd6-cd02de2d1ac0","block_type":"box","text":"Depositary Conflicts of Interest","page_number":8,"box":{"x":524,"y":619,"width":247,"height":12}},{"id":"446d76d0-9a7d-4197-8110-2350aef38874","block_type":"box","text":"The Depositary or any BNY Mellon Affiliates may have","page_number":8,"box":{"x":523,"y":647,"width":400,"height":11}},{"id":"dae350de-4ae9-4cdf-8c47-7d1676cd9196","block_type":"box","text":"an interest, relationship or arrangement that is in","page_number":8,"box":{"x":523,"y":660,"width":399,"height":12}},{"id":"cbda9cb1-f793-4a1a-bd61-7b8acc9513a9","block_type":"box","text":"conflict with or otherwise material in relation to the","page_number":8,"box":{"x":523,"y":674,"width":400,"height":9}},{"id":"cc8f0b67-d82c-41fe-beac-4af9d2c4fb70","block_type":"box","text":"services it provides to the ACS Manager and the","page_number":8,"box":{"x":523,"y":688,"width":400,"height":11}},{"id":"e7468303-795f-4ef7-97f5-5ee23882157b","block_type":"box","text":"Scheme. Conflicts of interest may also arise between","page_number":8,"box":{"x":523,"y":701,"width":399,"height":11}},{"id":"50db4090-ca49-4596-be35-e1284f345f8a","block_type":"box","text":"the Depositary’s different clients.","page_number":8,"box":{"x":523,"y":715,"width":241,"height":11}},{"id":"024c1410-2571-434d-bec7-d5b20e17e650","block_type":"box","text":"As a global financial services provider, one of the","page_number":8,"box":{"x":523,"y":742,"width":400,"height":11}},{"id":"d10a586d-dfbe-4e8b-bd37-7792ab371073","block_type":"box","text":"Depositary’s fundamental obligations is to manage","page_number":8,"box":{"x":524,"y":756,"width":399,"height":11}},{"id":"f68e3999-2970-427a-b078-a0098125849e","block_type":"box","text":"conflicts of interest fairly and transparently. As a","page_number":8,"box":{"x":523,"y":770,"width":400,"height":11}},{"id":"c7747979-1978-495f-bf94-d30a6a13cf3d","block_type":"box","text":"regulated business, the Depositary is required to","page_number":8,"box":{"x":524,"y":783,"width":399,"height":11}},{"id":"70727711-d0d6-4b85-b08c-7f2a6d7fba58","block_type":"box","text":"prevent, manage and, where required, disclose","page_number":8,"box":{"x":524,"y":797,"width":399,"height":11}},{"id":"85ebaa5c-564e-4a2c-b2f1-936129fa54e9","block_type":"box","text":"information regarding any actual or potential conflict of","page_number":8,"box":{"x":524,"y":811,"width":399,"height":11}},{"id":"fa76677e-70cf-42dc-8f37-374fa2d230c5","block_type":"box","text":"interest incidents to relevant clients.","page_number":8,"box":{"x":524,"y":824,"width":263,"height":9}},{"id":"104a8abc-60b5-41e9-befe-a60d3b7e103a","block_type":"box","text":"The Depositary is required to and does maintain and","page_number":8,"box":{"x":523,"y":852,"width":399,"height":11}},{"id":"c867cee1-c9ca-443d-9e4b-59edf6ae1ee4","block_type":"box","text":"operate effective organisational and administrative","page_number":8,"box":{"x":523,"y":865,"width":400,"height":11}},{"id":"68c0c396-8050-4a95-8c4e-03fd983d15ea","block_type":"box","text":"arrangements with a view to taking all reasonable","page_number":8,"box":{"x":523,"y":879,"width":400,"height":11}},{"id":"880f75ef-e7c9-4bbb-9fd6-9ef3e94c0fac","block_type":"box","text":"steps designed to prevent conflicts of interest from","page_number":8,"box":{"x":523,"y":892,"width":399,"height":12}},{"id":"547506fa-9c98-433a-bdf8-54a444aa9471","block_type":"box","text":"adversely affecting the interests of its clients.","page_number":8,"box":{"x":523,"y":906,"width":331,"height":11}},{"id":"71578b59-9c35-4c8c-ae37-2049af0ab296","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 9","page_number":9,"box":{"x":62,"y":929,"width":316,"height":8}},{"id":"206ff926-e468-4d1b-91ec-85d8713ccd28","block_type":"box","text":"The Depositary maintains a Conflicts of Interest Policy","page_number":9,"box":{"x":62,"y":59,"width":400,"height":12}},{"id":"b5f1f105-f302-4795-833a-0ce0601e7a47","block_type":"box","text":"(the “Conflicts Policy”). The Conflicts Policy (in","page_number":9,"box":{"x":63,"y":73,"width":398,"height":11}},{"id":"9b1e244f-cc85-4971-beb1-99cd89d6efd0","block_type":"box","text":"conjunction with associated policies):","page_number":9,"box":{"x":62,"y":87,"width":273,"height":11}},{"id":"2d77e062-ed59-4226-9805-68ee9f55db76","block_type":"box","text":"(a) identifies the circumstances which constitute or","page_number":9,"box":{"x":63,"y":114,"width":399,"height":11}},{"id":"e4486a48-c3b6-4dde-b0fd-e49268616d18","block_type":"box","text":"may give rise to a conflict of interest entailing a risk of","page_number":9,"box":{"x":62,"y":128,"width":400,"height":11}},{"id":"6f34d284-6b09-48b0-98cb-ca152fe9623c","block_type":"box","text":"damage to the interests of one or more clients;","page_number":9,"box":{"x":62,"y":141,"width":344,"height":12}},{"id":"be581ac9-7cbc-4a66-b0e6-e3667855ec31","block_type":"box","text":"(b) specifies the procedures or measures which","page_number":9,"box":{"x":63,"y":155,"width":398,"height":11}},{"id":"6cfea953-2c0a-4a51-8b72-d909484070f5","block_type":"box","text":"should be followed or adopted by the Depositary in","page_number":9,"box":{"x":62,"y":169,"width":399,"height":11}},{"id":"0bc066b9-64d6-4f7b-b78e-c6dafbc54836","block_type":"box","text":"order to prevent or manage and report those conflicts","page_number":9,"box":{"x":62,"y":182,"width":399,"height":12}},{"id":"92974956-2e25-4779-b6ff-9d583c0e8530","block_type":"box","text":"of interest;","page_number":9,"box":{"x":62,"y":196,"width":76,"height":10}},{"id":"072ae4e4-0db9-4996-98fa-273209a00a72","block_type":"box","text":"(c) sets out effective procedures to prevent or","page_number":9,"box":{"x":63,"y":210,"width":399,"height":11}},{"id":"5e535623-d7c0-4dff-a469-0f7f90506a65","block_type":"box","text":"control the exchange of information between persons","page_number":9,"box":{"x":62,"y":223,"width":399,"height":12}},{"id":"d770aa4c-0668-4add-bedd-2a60c9104400","block_type":"box","text":"engaged in activities involving a risk of a conflict of","page_number":9,"box":{"x":62,"y":237,"width":400,"height":11}},{"id":"a27d83ee-6fe9-451d-b269-a221e52efaa2","block_type":"box","text":"interest where the exchange of that information may","page_number":9,"box":{"x":62,"y":251,"width":400,"height":11}},{"id":"baee0e98-3f04-43a2-b87c-8d914f73f47f","block_type":"box","text":"harm the interests of one or more clients;","page_number":9,"box":{"x":62,"y":264,"width":303,"height":11}},{"id":"aeb07474-ca90-4161-8695-962ae3e55f7a","block_type":"box","text":"(d) includes procedures to ensure the separate","page_number":9,"box":{"x":63,"y":278,"width":398,"height":11}},{"id":"192155e1-ad57-456a-81e8-fb641cd906a2","block_type":"box","text":"supervision of persons whose principal functions","page_number":9,"box":{"x":62,"y":292,"width":399,"height":11}},{"id":"894fad13-6fd7-4fbb-99d3-46437d134af7","block_type":"box","text":"involve carrying out activities with or for clients and","page_number":9,"box":{"x":62,"y":305,"width":399,"height":11}},{"id":"7a12fda3-5d0c-4c2f-b446-e28d1e825a07","block_type":"box","text":"whose interests may conflict, or who otherwise","page_number":9,"box":{"x":62,"y":319,"width":399,"height":11}},{"id":"3867c0b0-778c-42d2-bc2d-8432c690ad6e","block_type":"box","text":"represent different interests that may conflict, including","page_number":9,"box":{"x":63,"y":333,"width":398,"height":11}},{"id":"b0064a9b-d7b6-4354-a23f-909bec40601d","block_type":"box","text":"with the interests of the Depositary;","page_number":9,"box":{"x":62,"y":346,"width":260,"height":11}},{"id":"60f5f36c-33f5-4ff7-b984-0d5d7f495583","block_type":"box","text":"(e) includes procedures to remove any direct link","page_number":9,"box":{"x":63,"y":360,"width":399,"height":11}},{"id":"c0219efa-9ac2-4166-86dc-cdcb3b28a2bd","block_type":"box","text":"between the remuneration of individuals principally","page_number":9,"box":{"x":62,"y":374,"width":400,"height":11}},{"id":"eb4e5c47-7971-4482-b5da-35d011af843b","block_type":"box","text":"engaged in one activity and the remuneration of, or","page_number":9,"box":{"x":62,"y":387,"width":400,"height":11}},{"id":"f9c30517-d580-4759-92f1-2eda7589d50d","block_type":"box","text":"revenues generated by, different individuals principally","page_number":9,"box":{"x":63,"y":401,"width":399,"height":11}},{"id":"64426c10-3bc4-41ba-895b-b4b6f60f0f05","block_type":"box","text":"engaged in another activity, where a conflict of interest","page_number":9,"box":{"x":62,"y":414,"width":400,"height":12}},{"id":"25b12b98-dfb9-4e0d-b743-5727cbe190ea","block_type":"box","text":"may arise in relation to those activities;","page_number":9,"box":{"x":62,"y":428,"width":286,"height":11}},{"id":"aea22b24-3314-4c9d-a214-6c302a27bc55","block_type":"box","text":"(f) specifies measures to prevent or limit any","page_number":9,"box":{"x":63,"y":442,"width":399,"height":11}},{"id":"2f0b3f7f-c6c1-4e26-80e6-f997f2be507e","block_type":"box","text":"person from exercising inappropriate influence over","page_number":9,"box":{"x":62,"y":455,"width":400,"height":12}},{"id":"7f2484ea-717b-4261-a73b-62c84e35cb2c","block_type":"box","text":"the way in which an individual carries out investment","page_number":9,"box":{"x":62,"y":469,"width":400,"height":11}},{"id":"c1fec09f-cb22-4240-8711-c7ba0c5db1f8","block_type":"box","text":"or ancillary services or activities; and","page_number":9,"box":{"x":62,"y":483,"width":272,"height":11}},{"id":"0de2e1d9-20e5-4591-8fcf-08508835ab1c","block_type":"box","text":"(g) sets out measures to prevent or control the","page_number":9,"box":{"x":63,"y":496,"width":398,"height":12}},{"id":"d0f6a219-b61c-4b12-a28f-7c7d1e9df5ef","block_type":"box","text":"simultaneous or sequential involvement of an","page_number":9,"box":{"x":62,"y":510,"width":399,"height":11}},{"id":"41d4d337-d64e-426a-a2dd-4be99dfcf296","block_type":"box","text":"individual in separate investment or ancillary services","page_number":9,"box":{"x":62,"y":524,"width":399,"height":11}},{"id":"e2854f4e-97e2-4afe-b83a-16c0f3c07d77","block_type":"box","text":"or activities where such involvement may impair the","page_number":9,"box":{"x":62,"y":538,"width":399,"height":11}},{"id":"24c420c3-0edd-4d83-bec9-d0fab93af77a","block_type":"box","text":"proper management of conflicts of interest.","page_number":9,"box":{"x":62,"y":551,"width":316,"height":11}},{"id":"44b4ce48-3c91-4d2f-93f8-7f22e53d4317","block_type":"box","text":"The Conflicts Policy clarifies that disclosure of conflicts","page_number":9,"box":{"x":62,"y":578,"width":399,"height":11}},{"id":"ea75799e-34dd-49fd-bcab-81998379bfda","block_type":"box","text":"of interest to clients is a measure of last resort to be","page_number":9,"box":{"x":62,"y":592,"width":399,"height":9}},{"id":"be43766c-5b80-48a4-975b-33647d490dfe","block_type":"box","text":"used by the Depositary to address its regulatory","page_number":9,"box":{"x":63,"y":606,"width":399,"height":11}},{"id":"8f1aae12-d8b0-4f24-9b82-49041c199128","block_type":"box","text":"obligations only where the organisational and","page_number":9,"box":{"x":62,"y":620,"width":399,"height":11}},{"id":"f548bea6-d5cc-4173-9c50-87bb1d855251","block_type":"box","text":"administrative arrangements established by the","page_number":9,"box":{"x":62,"y":633,"width":399,"height":11}},{"id":"c8a818dc-277f-44b6-b8fb-8921359d7f2a","block_type":"box","text":"Depositary (and any BNY Mellon Affiliates where","page_number":9,"box":{"x":63,"y":647,"width":398,"height":11}},{"id":"09105cfb-c412-4c1e-9210-9aecd4c0496d","block_type":"box","text":"applicable) to prevent or manage its conflicts of","page_number":9,"box":{"x":62,"y":660,"width":400,"height":12}},{"id":"bda27ee0-c7bc-4829-ae79-d77e33c31d82","block_type":"box","text":"interest are not sufficient to ensure, with reasonable","page_number":9,"box":{"x":62,"y":674,"width":399,"height":10}},{"id":"d7e612fe-5c8d-466d-953d-acc430978718","block_type":"box","text":"confidence, that the risks of damage to the interests of","page_number":9,"box":{"x":62,"y":688,"width":400,"height":11}},{"id":"cb644664-c3d9-451b-920d-112a28ad3f0b","block_type":"box","text":"clients will be prevented.","page_number":9,"box":{"x":62,"y":701,"width":181,"height":11}},{"id":"17c693f5-7cd5-45c3-b666-7f304f27c917","block_type":"box","text":"The Depositary must assess and review the Conflicts","page_number":9,"box":{"x":62,"y":728,"width":399,"height":12}},{"id":"6adc7c27-ee5a-43c4-a060-0569022ce92e","block_type":"box","text":"Policy at least once per year and take all appropriate","page_number":9,"box":{"x":63,"y":742,"width":398,"height":11}},{"id":"9b69f239-1a78-4e72-bb12-5a144092aebc","block_type":"box","text":"measures to address any deficiencies.","page_number":9,"box":{"x":62,"y":756,"width":283,"height":11}},{"id":"0a46fd64-f1b4-47a1-8be2-704cdbada2f4","block_type":"box","text":"The Depositary shall make available to its competent","page_number":9,"box":{"x":62,"y":783,"width":400,"height":11}},{"id":"d7021da4-2588-4ac4-a664-d2ada340b201","block_type":"box","text":"authorities, on request, all information which it has","page_number":9,"box":{"x":62,"y":797,"width":399,"height":11}},{"id":"65ea8719-2c8d-4348-aa48-e50f7627dbd8","block_type":"box","text":"obtained while performing its services and which may","page_number":9,"box":{"x":62,"y":811,"width":400,"height":11}},{"id":"d4bd161b-bce0-4527-a9bb-b149c11096d5","block_type":"box","text":"be required by the competent authorities of the","page_number":9,"box":{"x":62,"y":824,"width":399,"height":11}},{"id":"5e1721ba-e310-4cce-afe6-dc94e93ededd","block_type":"box","text":"Scheme.","page_number":9,"box":{"x":62,"y":838,"width":64,"height":9}},{"id":"40a20831-43f8-408c-a236-deaef1321ff0","block_type":"box","text":"6. The Investment Managers","page_number":9,"box":{"x":535,"y":46,"width":253,"height":11}},{"id":"b65a389c-62b1-4aaa-88d0-56ea474ade00","block_type":"box","text":"The ACS Manager has delegated certain functions","page_number":9,"box":{"x":523,"y":65,"width":400,"height":11}},{"id":"d7a7e137-350f-490a-9f37-1f04d4f9db6c","block_type":"box","text":"with respect to the investment management of the","page_number":9,"box":{"x":523,"y":79,"width":400,"height":11}},{"id":"e95072b7-ade2-4b33-bf88-278efd0a68a0","block_type":"box","text":"assets of the Scheme to Schroder Investment","page_number":9,"box":{"x":523,"y":93,"width":400,"height":8}},{"id":"ca9aae65-facc-4286-a826-a242ac09684e","block_type":"box","text":"Management Limited, FIL Pensions Management and","page_number":9,"box":{"x":524,"y":106,"width":398,"height":12}},{"id":"4d6eabef-16ad-426b-8ad2-cc7921cf50c4","block_type":"box","text":"Aviva Investors Global Services Limited.","page_number":9,"box":{"x":523,"y":120,"width":298,"height":9}},{"id":"52544df3-9844-4121-ac9f-dc92af57d7ca","block_type":"box","text":"The Investment Managers referred to below have","page_number":9,"box":{"x":523,"y":140,"width":400,"height":11}},{"id":"111c8699-1bae-48b8-bdb4-97cb5a265056","block_type":"box","text":"been granted the authority to manage and make","page_number":9,"box":{"x":524,"y":153,"width":399,"height":11}},{"id":"44bcceb5-8741-4d2e-bea6-b168d3f498d0","block_type":"box","text":"purchases and sales of investments for the","page_number":9,"box":{"x":524,"y":167,"width":399,"height":11}},{"id":"1af62a74-220b-4c1d-b07f-2655dad5acc2","block_type":"box","text":"appropriate Sub-Funds on the ACS Manager's behalf","page_number":9,"box":{"x":523,"y":180,"width":400,"height":12}},{"id":"ca27090c-2b57-4723-aecd-a84e3db52fc9","block_type":"box","text":"and as the ACS Manager's agent, within the","page_number":9,"box":{"x":523,"y":194,"width":400,"height":11}},{"id":"4c9295d5-2c59-4280-b622-fd696edf951f","block_type":"box","text":"investment policies of the relevant Sub-Fund of the","page_number":9,"box":{"x":524,"y":208,"width":399,"height":11}},{"id":"267f90fd-fd2b-4749-b503-ec1ac25e7188","block_type":"box","text":"Scheme. The Investment Managers have discretion to","page_number":9,"box":{"x":523,"y":221,"width":400,"height":12}},{"id":"e6c62560-3feb-47d9-b0a1-5c043abe2fc9","block_type":"box","text":"buy, sell, retain, exchange or otherwise deal in","page_number":9,"box":{"x":524,"y":235,"width":398,"height":11}},{"id":"5a073aee-9870-408a-9ab7-8da04f0e803b","block_type":"box","text":"investments (including derivatives), subscribe for new","page_number":9,"box":{"x":524,"y":249,"width":399,"height":11}},{"id":"47934bbc-3aeb-464d-b147-133cc2bbbd67","block_type":"box","text":"issues, and accept placings, underwritings or sub","page_number":9,"box":{"x":524,"y":263,"width":398,"height":11}},{"id":"01121d9f-bbab-43bf-bcb1-8ec7ec8ff058","block_type":"box","text":"underwritings for the relevant Sub-Funds. The","page_number":9,"box":{"x":524,"y":276,"width":399,"height":11}},{"id":"2e24b311-03ce-4576-9617-ae0884e1d4a1","block_type":"box","text":"Investment Managers may sub-delegate all or part of","page_number":9,"box":{"x":524,"y":290,"width":399,"height":11}},{"id":"4f3e6715-c625-430d-95ed-7a01d59c9750","block_type":"box","text":"their functions to a third party and shall seek the","page_number":9,"box":{"x":523,"y":303,"width":400,"height":12}},{"id":"c34ee617-9968-4205-a471-5a1f9e310ff5","block_type":"box","text":"consent of the ACS Manager prior to any such sub","page_number":9,"box":{"x":523,"y":317,"width":399,"height":11}},{"id":"aeb95a1c-39b0-406b-ab4d-36f6b4be62d6","block_type":"box","text":"delegation. Further details as to whether an","page_number":9,"box":{"x":523,"y":331,"width":399,"height":11}},{"id":"4cad4d68-dc80-4ee3-93e3-ab8caa6edadd","block_type":"box","text":"Investment Manager has exercised this right are set","page_number":9,"box":{"x":524,"y":345,"width":399,"height":11}},{"id":"16051cb7-221c-4b40-85cd-c288bfca992c","block_type":"box","text":"out below.","page_number":9,"box":{"x":523,"y":358,"width":75,"height":9}},{"id":"2bdcf5fc-a2c5-42a6-919d-19be08b7d02a","block_type":"box","text":"The Investment Managers report to the ACS Manager","page_number":9,"box":{"x":523,"y":378,"width":400,"height":11}},{"id":"fabc7286-cabf-4373-a9eb-c9a25b4297c4","block_type":"box","text":"on the performance of each Sub-Fund.","page_number":9,"box":{"x":523,"y":391,"width":286,"height":11}},{"id":"cd5f939a-f1a2-41fe-bff5-15b81984a828","block_type":"box","text":"The Investment Managers' fees for acting as an","page_number":9,"box":{"x":523,"y":411,"width":399,"height":11}},{"id":"f2163eca-ba8c-4313-bfb5-49ff1fbe0227","block_type":"box","text":"investment manager of the relevant Sub-Fund are paid","page_number":9,"box":{"x":524,"y":424,"width":398,"height":12}},{"id":"91f58dec-a5a7-4c06-865d-373a4802454d","block_type":"box","text":"by the ACS Manager.","page_number":9,"box":{"x":524,"y":438,"width":158,"height":11}},{"id":"c3823de1-c01d-42c4-8eb5-87ccacba7ec3","block_type":"box","text":"(a)","page_number":9,"box":{"x":536,"y":464,"width":18,"height":11}},{"id":"e6fd8b65-a636-46cf-b774-2d12dfe2c1a5","block_type":"box","text":"Schroder Investment Management Limited","page_number":9,"box":{"x":583,"y":464,"width":337,"height":11}},{"id":"bf5f5a8c-ace2-4bb5-9e92-213f655cbc96","block_type":"box","text":"The registered office of Schroders is 1 London Wall","page_number":9,"box":{"x":523,"y":483,"width":399,"height":12}},{"id":"cda04e22-ccbd-43b1-ab61-5f3916460744","block_type":"box","text":"Place, London, England, EC2Y 5AU. Schroders is","page_number":9,"box":{"x":524,"y":497,"width":399,"height":11}},{"id":"5188c7c0-33f7-4bbe-bbbd-554ca32b89b5","block_type":"box","text":"authorised and regulated by the FCA. Schroder's","page_number":9,"box":{"x":523,"y":511,"width":400,"height":11}},{"id":"16a98590-e6e0-4497-9090-e34e37f81ace","block_type":"box","text":"principal activity is acting as an investment manager.","page_number":9,"box":{"x":524,"y":524,"width":389,"height":12}},{"id":"1c675b83-30f8-45c3-8a50-0fde6de2578e","block_type":"box","text":"The ACS Manager may terminate its investment","page_number":9,"box":{"x":523,"y":544,"width":400,"height":11}},{"id":"2c23dd8c-ab90-4c39-8947-0b4867d7f649","block_type":"box","text":"management agreement with Schroders on giving six","page_number":9,"box":{"x":524,"y":557,"width":399,"height":12}},{"id":"2979d98a-3e64-41ec-9aca-988d0f1f68a4","block_type":"box","text":"months' notice to Schroders, however in certain limited","page_number":9,"box":{"x":524,"y":571,"width":398,"height":11}},{"id":"e724eebb-88e9-4282-a3db-aedf6d799932","block_type":"box","text":"circumstances the ACS Manager may terminate its","page_number":9,"box":{"x":523,"y":585,"width":400,"height":11}},{"id":"540e2c99-d61c-4f6c-9c36-ea8f7fba61d9","block_type":"box","text":"investment management agreement with Schroders","page_number":9,"box":{"x":524,"y":598,"width":399,"height":12}},{"id":"72a2837c-fe36-44e1-a4c2-4b2e3f1df749","block_type":"box","text":"upon notice with immediate effect. Schroders may","page_number":9,"box":{"x":524,"y":612,"width":399,"height":11}},{"id":"1267feb1-eab7-49b8-a3e8-bc93d0ed370c","block_type":"box","text":"terminate its investment management agreement on","page_number":9,"box":{"x":523,"y":626,"width":399,"height":11}},{"id":"7f8d221e-0a7f-48d1-82f6-bd0cabf1c4b5","block_type":"box","text":"giving twelve months' notice to the ACS Manager,","page_number":9,"box":{"x":523,"y":639,"width":399,"height":12}},{"id":"0c028d40-f337-4414-a031-4c484b1a616b","block_type":"box","text":"however, in certain limited circumstances; Schroders","page_number":9,"box":{"x":524,"y":653,"width":399,"height":11}},{"id":"bbef41c1-f0c7-40bb-b654-7f1472433866","block_type":"box","text":"may terminate its investment management agreement","page_number":9,"box":{"x":524,"y":667,"width":399,"height":11}},{"id":"e4b52666-7b81-4ae0-8a0a-3a888d183049","block_type":"box","text":"with the ACS Manager upon notice with immediate","page_number":9,"box":{"x":523,"y":680,"width":400,"height":12}},{"id":"ec2d433e-1811-4636-a47b-fdba7f9c133c","block_type":"box","text":"effect.","page_number":9,"box":{"x":523,"y":694,"width":44,"height":9}},{"id":"73122b04-f1d9-4cce-9793-891b80e9db8a","block_type":"box","text":"At the date of this Prospectus, there was no sub","page_number":9,"box":{"x":523,"y":714,"width":399,"height":11}},{"id":"69956d4a-af8a-429d-9d04-8f6dbc94e294","block_type":"box","text":"delegation of the functions performed by Schroders.","page_number":9,"box":{"x":523,"y":727,"width":384,"height":12}},{"id":"f4b8bdca-96d0-439b-8be4-080b9aab3a06","block_type":"box","text":"(b)","page_number":9,"box":{"x":536,"y":753,"width":18,"height":11}},{"id":"2e0617e7-9eb8-4103-9b86-bf729906d1f6","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":9,"box":{"x":571,"y":753,"width":317,"height":9}},{"id":"4a2158bb-a689-446e-93c8-29c139f58ba9","block_type":"box","text":"The registered office of AIGSL is 80 Fenchurch Street,","page_number":9,"box":{"x":523,"y":772,"width":399,"height":12}},{"id":"9ac4cecd-0d16-439e-8db2-82c19aae75de","block_type":"box","text":"London, EC3M 4AE. AIGSL is authorised and","page_number":9,"box":{"x":524,"y":786,"width":399,"height":10}},{"id":"0fa802b0-50b4-48cb-be88-a9e449f1fdf5","block_type":"box","text":"regulated by the FCA. AIGSL's principal activity is","page_number":9,"box":{"x":524,"y":800,"width":399,"height":11}},{"id":"45582863-d0fe-4150-a213-39faa81c3c97","block_type":"box","text":"acting as an investment manager. AIGSL is part of the","page_number":9,"box":{"x":523,"y":813,"width":400,"height":12}},{"id":"48349291-3d42-4603-8cd0-869bf7277200","block_type":"box","text":"Aviva Group.","page_number":9,"box":{"x":523,"y":827,"width":95,"height":11}},{"id":"eb45fa8f-e035-499c-b40b-415793013a83","block_type":"box","text":"The ACS Manager may terminate its investment","page_number":9,"box":{"x":523,"y":852,"width":400,"height":12}},{"id":"8ba2f23c-deae-407a-a077-8b27316d1115","block_type":"box","text":"management agreement with AIGSL on giving six","page_number":9,"box":{"x":524,"y":866,"width":399,"height":12}},{"id":"c4dffd4c-3f6b-4429-9b6d-1af60b986fdb","block_type":"box","text":"months' notice to AIGSL, however in certain limited","page_number":9,"box":{"x":524,"y":880,"width":398,"height":10}},{"id":"4787d915-ba9e-4f40-a180-0815bb594028","block_type":"box","text":"circumstances the ACS Manager may terminate its","page_number":9,"box":{"x":523,"y":893,"width":400,"height":12}},{"id":"b3dbdc23-8473-445a-a42d-166681f158e8","block_type":"box","text":"investment management agreement with AIGSL upon","page_number":9,"box":{"x":524,"y":907,"width":398,"height":11}},{"id":"3f69d1a7-3c1b-4cea-a4a6-62bd4aa1b9b4","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 10","page_number":10,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"fa439d22-fd4c-4eac-9781-8edd1fa33913","block_type":"box","text":"notice with immediate effect. AIGSL may terminate its","page_number":10,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"ff2727a3-bbbf-42ce-b2d6-4d0271f6b704","block_type":"box","text":"investment management agreement on giving six","page_number":10,"box":{"x":62,"y":60,"width":400,"height":11}},{"id":"6b847227-6759-45d5-9d01-91db206391e7","block_type":"box","text":"months' notice to the ACS Manager, however, in","page_number":10,"box":{"x":62,"y":73,"width":399,"height":11}},{"id":"8cdc4edb-3f43-47d1-8c18-b0d7f74413a6","block_type":"box","text":"certain limited circumstances; AIGSL may terminate its","page_number":10,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"a8189a7a-74cf-4bc6-b71a-b25c5014bcad","block_type":"box","text":"investment management agreement with the ACS","page_number":10,"box":{"x":62,"y":100,"width":399,"height":12}},{"id":"fd88583a-53c5-4405-8f67-ef365d3ec6e5","block_type":"box","text":"Manager upon notice with immediate effect (however","page_number":10,"box":{"x":63,"y":114,"width":399,"height":11}},{"id":"5c3b8f67-7ec7-4bc8-9baf-4f7b0db6c004","block_type":"box","text":"in certain circumstances where AIGSL may terminate","page_number":10,"box":{"x":62,"y":128,"width":399,"height":11}},{"id":"e1d555cd-a57b-4d9c-a335-848c677549eb","block_type":"box","text":"with immediate effect, the ACS Manager may require","page_number":10,"box":{"x":62,"y":141,"width":399,"height":12}},{"id":"38002079-123d-4ae2-aed2-4612f908fe85","block_type":"box","text":"AIGSL to continue to provide the investment","page_number":10,"box":{"x":62,"y":155,"width":400,"height":11}},{"id":"7e690ad3-0066-4188-9129-25d591fbc6fc","block_type":"box","text":"management services for up to six months,","page_number":10,"box":{"x":62,"y":169,"width":399,"height":11}},{"id":"dad2662b-f360-4462-b1c5-f1ef0e006a47","block_type":"box","text":"notwithstanding the shorter notice period)","page_number":10,"box":{"x":62,"y":182,"width":306,"height":12}},{"id":"afb37297-491f-4214-a548-7d557ba1234c","block_type":"box","text":".","page_number":10,"box":{"x":371,"y":189,"width":2,"height":2}},{"id":"c0ff93de-bbf9-4cc1-91f4-8e60b19b3d42","block_type":"box","text":"At the date of this Prospectus, there was no sub","page_number":10,"box":{"x":62,"y":216,"width":399,"height":11}},{"id":"36298fa6-c8a8-4d38-a3db-c8fb09b4cce3","block_type":"box","text":"delegation of the functions performed by AIGSL.","page_number":10,"box":{"x":62,"y":229,"width":356,"height":11}},{"id":"a6b817f7-dad4-46a0-8047-0cfeafb7a1b1","block_type":"box","text":"(c)","page_number":10,"box":{"x":74,"y":255,"width":18,"height":11}},{"id":"c5d9e4a7-e8d3-419e-b1b0-8d014975f82b","block_type":"box","text":"FIL Pensions Management","page_number":10,"box":{"x":122,"y":255,"width":210,"height":11}},{"id":"d57406e9-df9e-42e3-8ad1-decc8e130ff9","block_type":"box","text":"The registered office of FIL is Beech Gate, Millfield","page_number":10,"box":{"x":62,"y":274,"width":399,"height":12}},{"id":"1eaf6039-0580-4b99-9542-22128aa89a0b","block_type":"box","text":"Lane, Lower Kingswood, Tadworth, Surrey KT20 6RP.","page_number":10,"box":{"x":63,"y":288,"width":398,"height":11}},{"id":"9bf96c32-7800-4ce6-805c-6d377fcac32b","block_type":"box","text":"FIL is authorised and regulated by the FCA. FIL's","page_number":10,"box":{"x":63,"y":302,"width":398,"height":11}},{"id":"d69804dd-bb37-46e0-b1a5-99bb62d273dc","block_type":"box","text":"principal activity is providing pensions and investment","page_number":10,"box":{"x":62,"y":315,"width":400,"height":11}},{"id":"a2c126f2-423c-4574-bdee-b8a7fffb7de9","block_type":"box","text":"management services.","page_number":10,"box":{"x":62,"y":329,"width":167,"height":11}},{"id":"1b69dda5-3a68-4487-92a1-362693dc4e65","block_type":"box","text":"The ACS Manager may terminate its investment","page_number":10,"box":{"x":62,"y":349,"width":400,"height":11}},{"id":"6ef583bf-00ca-4fec-8b81-a8c3f417f72b","block_type":"box","text":"management agreement with FIL on giving one","page_number":10,"box":{"x":62,"y":362,"width":399,"height":11}},{"id":"509189d9-0dd1-488e-8efb-595048b25df2","block_type":"box","text":"months' notice to FIL, however in certain limited","page_number":10,"box":{"x":62,"y":376,"width":399,"height":10}},{"id":"a9f53245-161e-4117-9063-5ffb010edc62","block_type":"box","text":"circumstances the ACS Manager may terminate its","page_number":10,"box":{"x":62,"y":389,"width":399,"height":12}},{"id":"536ba0c2-ff77-4aee-9f35-25d055f1b3b7","block_type":"box","text":"investment management agreement with FIL upon","page_number":10,"box":{"x":62,"y":403,"width":399,"height":11}},{"id":"7de026e3-33f8-4306-b352-0267c3872ab8","block_type":"box","text":"notice with immediate effect. FIL may also terminate","page_number":10,"box":{"x":62,"y":417,"width":399,"height":11}},{"id":"21b29e6d-7b8e-419a-85b5-98b760d0516a","block_type":"box","text":"its investment management agreement on giving one","page_number":10,"box":{"x":62,"y":431,"width":399,"height":11}},{"id":"32307a14-3d85-407a-aa96-17e00fe13d34","block_type":"box","text":"months' notice to the ACS Manager, however, in","page_number":10,"box":{"x":62,"y":444,"width":399,"height":11}},{"id":"50528442-8982-4323-913a-a915ea702b22","block_type":"box","text":"certain limited circumstances, FIL may terminate its","page_number":10,"box":{"x":62,"y":458,"width":399,"height":11}},{"id":"c1d4ffde-11df-4c54-96ca-c92db0f3713b","block_type":"box","text":"investment management agreement with the ACS","page_number":10,"box":{"x":62,"y":471,"width":399,"height":12}},{"id":"95b170da-aad9-4d92-81b1-b7886164f2c9","block_type":"box","text":"Manager upon notice with immediate effect.","page_number":10,"box":{"x":63,"y":485,"width":322,"height":11}},{"id":"0b70c94e-da9b-4b81-8c5b-85794d5c42d4","block_type":"box","text":"At the date of this Prospectus, FIL has sub-delegated","page_number":10,"box":{"x":62,"y":505,"width":399,"height":11}},{"id":"92dbf357-9c43-4922-9dd0-37d7850bfc9e","block_type":"box","text":"its portfolio management duties to another company","page_number":10,"box":{"x":62,"y":518,"width":400,"height":12}},{"id":"7ab6a583-e24a-4f29-bdbf-5309d585002c","block_type":"box","text":"within its Group, FIL Investments International.","page_number":10,"box":{"x":62,"y":532,"width":344,"height":11}},{"id":"105b6dd2-5fb6-4fe1-92cb-059e543744c4","block_type":"box","text":"7. The Registrar","page_number":10,"box":{"x":74,"y":558,"width":155,"height":11}},{"id":"fe248dee-fdb8-49a7-9352-795248dfc51c","block_type":"box","text":"The Registrar, as the ACS Manager’s delegate, is the","page_number":10,"box":{"x":62,"y":577,"width":399,"height":11}},{"id":"32c27a9a-045a-4cfd-a7f4-2d3abd791947","block_type":"box","text":"person responsible for maintaining the Register under","page_number":10,"box":{"x":62,"y":591,"width":400,"height":11}},{"id":"5b6bab84-63f5-443f-86b8-d799741710a0","block_type":"box","text":"the terms of the ACS Deed for the Scheme. The","page_number":10,"box":{"x":62,"y":604,"width":399,"height":9}},{"id":"90faa5fa-4d26-4b0a-b966-f1d52420648b","block_type":"box","text":"Register may be inspected at 160 Queen Victoria","page_number":10,"box":{"x":63,"y":618,"width":399,"height":11}},{"id":"6ce13eb9-8761-4b26-a6c9-b7744a528f01","block_type":"box","text":"Street, London, EC4V 4LA by or on behalf of the","page_number":10,"box":{"x":62,"y":632,"width":399,"height":11}},{"id":"a103f835-fb40-4b63-8bd6-928f97b598ad","block_type":"box","text":"Unitholders, on any Business Day during Normal","page_number":10,"box":{"x":63,"y":646,"width":398,"height":11}},{"id":"9c144f70-50b4-4fec-9b43-f1b2cd6b52fc","block_type":"box","text":"Business Hours.","page_number":10,"box":{"x":63,"y":659,"width":119,"height":9}},{"id":"694775f9-804e-482d-9dee-69b16b33b407","block_type":"box","text":"The Register is conclusive evidence of the title to Units","page_number":10,"box":{"x":62,"y":679,"width":399,"height":11}},{"id":"b57606c0-e641-46e4-9902-08f5aa3541a5","block_type":"box","text":"except in the case of any default in payment or transfer","page_number":10,"box":{"x":62,"y":692,"width":400,"height":12}},{"id":"711195cf-4e0d-4625-86fd-70caa92c1062","block_type":"box","text":"to a Scheme of cash or other property due and the","page_number":10,"box":{"x":62,"y":706,"width":399,"height":11}},{"id":"5129ca7b-0185-4ccf-b021-448579644109","block_type":"box","text":"Depositary and the ACS Manager are not obliged to","page_number":10,"box":{"x":63,"y":720,"width":399,"height":11}},{"id":"6af6437c-02e2-4d83-971b-46c0231a3ce4","block_type":"box","text":"take notice of any trust or equity or other interest","page_number":10,"box":{"x":62,"y":733,"width":400,"height":12}},{"id":"09fe6a5f-49ab-460d-a3dd-576bc444f148","block_type":"box","text":"affecting the title to any of the Units.","page_number":10,"box":{"x":62,"y":747,"width":265,"height":11}},{"id":"7ed27626-57ba-4b64-b2bb-d62c802d4570","block_type":"box","text":"8. The Securities Lending Agent","page_number":10,"box":{"x":74,"y":772,"width":283,"height":12}},{"id":"80267d10-5024-4c20-941e-e887070995f7","block_type":"box","text":"The Bank of New York Mellon, London Branch, of 160","page_number":10,"box":{"x":62,"y":792,"width":400,"height":10}},{"id":"cf581ae4-8bd3-476f-9fa1-90aeec06b02c","block_type":"box","text":"Queen Victoria Street, London, EC4V 4LA has been","page_number":10,"box":{"x":62,"y":806,"width":399,"height":10}},{"id":"e161e04e-0b78-4fdd-bf7a-04b06ff4b83c","block_type":"box","text":"appointed to act as securities lending agent for the","page_number":10,"box":{"x":62,"y":819,"width":399,"height":12}},{"id":"98c1d70b-a654-4234-9444-94af90647bec","block_type":"box","text":"Sub-Funds. The Securities Lending Agent has the","page_number":10,"box":{"x":62,"y":833,"width":399,"height":11}},{"id":"cd526048-7909-4756-b702-52594c96b072","block_type":"box","text":"discretion to arrange securities loans and repo","page_number":10,"box":{"x":62,"y":847,"width":399,"height":11}},{"id":"04f48011-885c-4f5f-8be4-aab17aaf876e","block_type":"box","text":"contracts with approved counterparties. Further details","page_number":10,"box":{"x":62,"y":861,"width":399,"height":10}},{"id":"a7519f24-dbbc-4372-9ee3-b7a20a6707bc","block_type":"box","text":"are provided in section 24 (b) below.","page_number":10,"box":{"x":62,"y":874,"width":268,"height":11}},{"id":"62b2ce7a-17be-4f6a-9107-ac6a569ab8d4","block_type":"box","text":"9. The Administrator","page_number":10,"box":{"x":535,"y":46,"width":191,"height":9}},{"id":"47645b40-5631-4052-9d4e-85a4b33c97be","block_type":"box","text":"The Administrator will act as the ACS Manager’s","page_number":10,"box":{"x":523,"y":65,"width":400,"height":11}},{"id":"659a51bf-df7b-4c47-84a1-238f973a8c2c","block_type":"box","text":"delegate, performing a number of fund administration","page_number":10,"box":{"x":523,"y":79,"width":399,"height":11}},{"id":"4568dec8-175d-420d-b012-c48935717677","block_type":"box","text":"services, including fund accounting (amongst other","page_number":10,"box":{"x":523,"y":93,"width":400,"height":11}},{"id":"49d4e988-f853-45bb-8359-58bce08b2783","block_type":"box","text":"things assisting the ACS Manager in calculating the","page_number":10,"box":{"x":523,"y":106,"width":400,"height":12}},{"id":"257162e5-0008-42ae-a4ac-844378d5ac1b","block_type":"box","text":"Unit price of a Sub-Fund), and client and fund","page_number":10,"box":{"x":524,"y":120,"width":398,"height":11}},{"id":"05c4417d-62bb-458e-8118-a3cfd606ea62","block_type":"box","text":"administration, (amongst other things assisting the","page_number":10,"box":{"x":523,"y":134,"width":400,"height":11}},{"id":"9a1c37f8-d174-4a45-aa0c-4b9dbc1df125","block_type":"box","text":"ACS Manager with its requirement to process requests","page_number":10,"box":{"x":523,"y":147,"width":400,"height":11}},{"id":"864d5f07-4889-4825-81bf-811d6285b116","block_type":"box","text":"for subscriptions and redemptions for Units in a Sub","page_number":10,"box":{"x":523,"y":161,"width":400,"height":11}},{"id":"8234a1d4-0753-44ce-9e48-1d72ef5c6daf","block_type":"box","text":"Fund and maintenance of the Register).","page_number":10,"box":{"x":524,"y":175,"width":293,"height":11}},{"id":"b8a6cf1d-a24d-4d69-9452-9d1c2683f089","block_type":"box","text":"10. The Auditor","page_number":10,"box":{"x":536,"y":200,"width":140,"height":9}},{"id":"02218e94-6048-41e0-9490-68310dd5aff8","block_type":"box","text":"The Auditor’s responsibility is to audit and express an","page_number":10,"box":{"x":523,"y":220,"width":399,"height":11}},{"id":"91012af9-51ad-40cd-b738-b5c9f039f3a6","block_type":"box","text":"opinion on the financial statements of the Scheme in","page_number":10,"box":{"x":523,"y":233,"width":399,"height":11}},{"id":"48969d89-5c5b-49c4-a83f-d85436d5b414","block_type":"box","text":"accordance with applicable law and auditing","page_number":10,"box":{"x":523,"y":247,"width":399,"height":11}},{"id":"c4bcdbb3-6775-451b-9232-c4c1e564b89d","block_type":"box","text":"standards.","page_number":10,"box":{"x":523,"y":261,"width":76,"height":8}},{"id":"0ce75a82-4549-42cc-8b96-712f0dc74026","block_type":"box","text":"11. Unitholder’s Relationship with the Scheme","page_number":10,"box":{"x":536,"y":286,"width":386,"height":11}},{"id":"681a9b97-d23c-4458-837e-804dd526f9c3","block_type":"box","text":"In order to subscribe for Units, Unitholders must","page_number":10,"box":{"x":524,"y":306,"width":399,"height":10}},{"id":"55a13065-814b-4752-834f-08a08399d5cd","block_type":"box","text":"complete an appropriate Form, Power of Attorney and","page_number":10,"box":{"x":523,"y":320,"width":400,"height":11}},{"id":"9fce4b02-f58b-41a2-a61f-e154f57b082b","block_type":"box","text":"Investor Agreement. By doing so, Unitholders agree to","page_number":10,"box":{"x":524,"y":333,"width":399,"height":11}},{"id":"2695ccc7-c23b-40e8-af3b-ca0d857a567d","block_type":"box","text":"subscribe for Units and to be bound by the terms of","page_number":10,"box":{"x":523,"y":347,"width":400,"height":11}},{"id":"5b4e827e-9ea9-4c5e-9197-265c23ae9bf3","block_type":"box","text":"this Prospectus and the ACS Deed. All Unitholders are","page_number":10,"box":{"x":523,"y":360,"width":400,"height":11}},{"id":"28b41a31-f441-4c86-bc9f-e0b64d123df7","block_type":"box","text":"entitled to the benefit of, are bound by, and are","page_number":10,"box":{"x":523,"y":374,"width":400,"height":11}},{"id":"0af89ac8-a08e-4b5d-afd7-f11e79654544","block_type":"box","text":"deemed to have notice of, the provisions of the ACS","page_number":10,"box":{"x":523,"y":388,"width":399,"height":11}},{"id":"eae8cd35-7b75-4e68-acfc-912b30b440af","block_type":"box","text":"Deed, copies of which are available as described in","page_number":10,"box":{"x":524,"y":401,"width":398,"height":12}},{"id":"d0d6fc7f-fe31-48d9-99b5-4496dcb3092e","block_type":"box","text":"section 36(vi) below. The provisions of the ACS Deed","page_number":10,"box":{"x":523,"y":415,"width":399,"height":11}},{"id":"4be8b450-9b0c-48f5-a0f9-9d3138bf387a","block_type":"box","text":"are binding on the Depositary, the ACS Manager and","page_number":10,"box":{"x":523,"y":429,"width":399,"height":11}},{"id":"7441e9e9-9d42-419f-b216-dc90d262f169","block_type":"box","text":"the Unitholders and all persons claiming through them","page_number":10,"box":{"x":523,"y":443,"width":399,"height":11}},{"id":"4297e352-4f66-47f5-ad29-107760d8a330","block_type":"box","text":"respectively as if all such Unitholders and persons had","page_number":10,"box":{"x":524,"y":456,"width":398,"height":11}},{"id":"f0c69aea-70ff-4d0a-8a96-ecb8fad65ec6","block_type":"box","text":"been party to such ACS Deed. The Unitholder","page_number":10,"box":{"x":524,"y":470,"width":399,"height":11}},{"id":"428a1e9b-fb80-4cde-8787-c53abbbdd701","block_type":"box","text":"Documents are governed by and at all times subject to","page_number":10,"box":{"x":524,"y":484,"width":399,"height":11}},{"id":"e7570d47-1f47-4e83-8d35-236e42b934b9","block_type":"box","text":"English law. The courts of England shall have","page_number":10,"box":{"x":524,"y":497,"width":399,"height":11}},{"id":"85f93db6-9370-40b6-b6a5-67f19364c6b2","block_type":"box","text":"jurisdiction in relation to claims made under them.","page_number":10,"box":{"x":522,"y":511,"width":368,"height":11}},{"id":"86bb2999-e98b-4d90-be06-4df8ee8e5b5f","block_type":"box","text":"Unitholders should note that the Scheme and the Sub","page_number":10,"box":{"x":524,"y":530,"width":398,"height":9}},{"id":"65219008-c35f-40da-bd9d-fbf4c2fb6543","block_type":"box","text":"Funds may be adversely affected by the ability to","page_number":10,"box":{"x":524,"y":544,"width":399,"height":11}},{"id":"4a16e0dc-9bf7-48e3-aefc-6dc22131149c","block_type":"box","text":"recognise and enforce a foreign judgment in England.","page_number":10,"box":{"x":524,"y":558,"width":398,"height":11}},{"id":"4fd9d383-e40e-4c2e-ab45-513021e9d0ad","block_type":"box","text":"There are a number of legal instruments providing for","page_number":10,"box":{"x":523,"y":571,"width":400,"height":11}},{"id":"cf78f59f-a8a3-4d4a-8cf9-72842993ba9e","block_type":"box","text":"the recognition and enforcement of judgments","page_number":10,"box":{"x":523,"y":585,"width":399,"height":11}},{"id":"58cd280b-58b0-4530-b54d-b3c210d2adae","block_type":"box","text":"obtained from certain jurisdictions relating to certain","page_number":10,"box":{"x":523,"y":599,"width":399,"height":11}},{"id":"5a03c09b-9db3-4529-a5dd-14a2086ed7b5","block_type":"box","text":"matters in England. Judgments obtained in","page_number":10,"box":{"x":524,"y":612,"width":398,"height":11}},{"id":"e926bf15-e2c4-43f7-9e04-e35d24364da9","block_type":"box","text":"jurisdictions or relating to matters not covered by such","page_number":10,"box":{"x":522,"y":626,"width":400,"height":11}},{"id":"365d72e4-7d4e-4468-8942-9af6b07f3709","block_type":"box","text":"legal instruments may be enforceable in England at","page_number":10,"box":{"x":524,"y":639,"width":399,"height":12}},{"id":"db04378f-4d44-4952-b54f-bf3c7b40ccb5","block_type":"box","text":"common law. Nevertheless, there is uncertainty","page_number":10,"box":{"x":523,"y":653,"width":400,"height":11}},{"id":"874eabab-2633-46a3-a644-72aeeac04ec0","block_type":"box","text":"regarding the ability to enforce foreign judgments in","page_number":10,"box":{"x":524,"y":667,"width":398,"height":11}},{"id":"50d8ddfc-6ba2-4953-9e8d-66727dbd7073","block_type":"box","text":"England, which may adversely affect the Scheme and","page_number":10,"box":{"x":524,"y":680,"width":398,"height":12}},{"id":"4eed7e67-121c-48a2-b6a7-ba5c663652de","block_type":"box","text":"the Sub-Funds and the value of a Unitholder’s Units.","page_number":10,"box":{"x":523,"y":694,"width":387,"height":9}},{"id":"3385f289-af6b-4ead-ad9d-769fc52bbf22","block_type":"box","text":"Section 261P of the Financial Services and Markets","page_number":10,"box":{"x":523,"y":714,"width":400,"height":9}},{"id":"00dffeeb-b945-49a9-b352-1a80949d68c7","block_type":"box","text":"Act 2000 provides for segregated liability between","page_number":10,"box":{"x":523,"y":727,"width":399,"height":12}},{"id":"2ed69047-2254-4614-b563-16003513741e","block_type":"box","text":"Sub-Funds. The concept of segregated liability is","page_number":10,"box":{"x":523,"y":741,"width":400,"height":11}},{"id":"db2c070f-0cab-47cd-a5d7-f9f6a0967d1d","block_type":"box","text":"relatively new. Accordingly, where claims are brought","page_number":10,"box":{"x":524,"y":755,"width":399,"height":11}},{"id":"2641876a-b542-4c9b-98cc-ff46cc3ecd4e","block_type":"box","text":"by local creditors in foreign courts or under foreign law","page_number":10,"box":{"x":524,"y":768,"width":399,"height":12}},{"id":"2842b291-230e-453d-85fe-3afb71ac748f","block_type":"box","text":"contracts, it is not yet known how those foreign courts","page_number":10,"box":{"x":523,"y":782,"width":400,"height":11}},{"id":"7b4c3ab4-e150-4c79-b697-d091beb48c39","block_type":"box","text":"will react to Section 261P.","page_number":10,"box":{"x":523,"y":796,"width":191,"height":9}},{"id":"b139bb19-1b07-43d3-b5de-1f6ef532826a","block_type":"box","text":"12. Unitholder’s Rights Against Service","page_number":10,"box":{"x":536,"y":821,"width":387,"height":11}},{"id":"2c85ab86-c0ff-4ed0-b535-e78ea9edf9e1","block_type":"box","text":"Providers","page_number":10,"box":{"x":583,"y":835,"width":76,"height":9}},{"id":"160e53a6-5fc9-44e7-869e-5da0cb2a2dbf","block_type":"box","text":"The Scheme is reliant on the performance of the","page_number":10,"box":{"x":523,"y":854,"width":400,"height":11}},{"id":"4d059f40-0983-4b3d-a6e0-69da9829bc1c","block_type":"box","text":"Service Providers.","page_number":10,"box":{"x":523,"y":868,"width":135,"height":9}},{"id":"f8b82d3a-b813-436a-aced-cad8761d14b5","block_type":"box","text":"No Unitholder will have any direct contractual claim","page_number":10,"box":{"x":524,"y":888,"width":398,"height":11}},{"id":"8e3e2945-014e-49e6-a822-9b30287021c8","block_type":"box","text":"against any Service Provider with respect to such","page_number":10,"box":{"x":523,"y":901,"width":399,"height":12}},{"id":"536181d5-bba0-4ed0-9ff5-2a383d2dd1c9","block_type":"box","text":"Service Provider’s default. This is without prejudice to","page_number":10,"box":{"x":523,"y":915,"width":400,"height":11}},{"id":"a831fdd8-5b99-4048-bba8-a65293b7862c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 11","page_number":11,"box":{"x":62,"y":929,"width":321,"height":8}},{"id":"ac123823-7418-4d5a-aedb-d8cb295e3e02","block_type":"box","text":"any right a Unitholder may have to bring a claim","page_number":11,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"97fddd2d-0e59-493f-abdc-e676418d306a","block_type":"box","text":"against an FCA authorised Service Provider, the ACS","page_number":11,"box":{"x":62,"y":59,"width":399,"height":12}},{"id":"adc53d0d-45e5-4b13-9a94-a6e777cf49b3","block_type":"box","text":"Manager or the Depositary under Section 138D of the","page_number":11,"box":{"x":63,"y":73,"width":398,"height":11}},{"id":"dfd2ea5b-ce7f-4839-b821-91247c963a2b","block_type":"box","text":"Financial Services and Markets Act 2000 (which","page_number":11,"box":{"x":63,"y":87,"width":398,"height":11}},{"id":"39f2e26b-b1a7-41e8-9590-2814d6147f07","block_type":"box","text":"provides that breach of an FCA rule by such Service","page_number":11,"box":{"x":62,"y":100,"width":399,"height":11}},{"id":"cd854e1f-c715-48b0-93aa-49efbe38ae61","block_type":"box","text":"Provider, the ACS Manager or the Depositary is","page_number":11,"box":{"x":63,"y":114,"width":398,"height":11}},{"id":"f2bd4119-b409-4a2a-8d05-68779251413b","block_type":"box","text":"actionable by a private person who suffers loss as a","page_number":11,"box":{"x":62,"y":128,"width":400,"height":11}},{"id":"6d6ef73b-833d-48ec-a66f-22dc197378fc","block_type":"box","text":"result), or any tortious or contractual cause of action.","page_number":11,"box":{"x":63,"y":141,"width":398,"height":12}},{"id":"17d5f68a-dd3b-4e44-95b1-b0996e45d5b0","block_type":"box","text":"Unitholders who believe they may have a claim under","page_number":11,"box":{"x":63,"y":155,"width":399,"height":11}},{"id":"6f7cd692-5bb7-43e0-b6ba-b5f1e9281b12","block_type":"box","text":"Section 138D of the Financial Services and Markets","page_number":11,"box":{"x":62,"y":169,"width":399,"height":8}},{"id":"73eb0ac7-6396-4a82-bb37-a7ef56f77d26","block_type":"box","text":"Act 2000, or in tort or contract, against any Service","page_number":11,"box":{"x":62,"y":182,"width":399,"height":12}},{"id":"58d7caba-71d4-4602-bee4-1306c5ef36b9","block_type":"box","text":"Provider, the ACS Manager or the Depositary in","page_number":11,"box":{"x":63,"y":196,"width":398,"height":11}},{"id":"c7e1a43e-efc3-452a-bbef-dff902102753","block_type":"box","text":"connection with their investment in the Scheme,","page_number":11,"box":{"x":62,"y":210,"width":398,"height":10}},{"id":"ea6ba342-b179-4e18-8504-91a1c4b44a12","block_type":"box","text":"should consult their legal adviser.","page_number":11,"box":{"x":62,"y":223,"width":246,"height":12}},{"id":"23631694-1e0a-4067-ab85-dfc215b3abdc","block_type":"box","text":"Unitholders may be eligible for compensation under","page_number":11,"box":{"x":63,"y":243,"width":399,"height":11}},{"id":"ca21902d-21a2-4f9b-b3bc-094a9974e10b","block_type":"box","text":"the FSCS if they have claims against the ACS","page_number":11,"box":{"x":62,"y":256,"width":399,"height":12}},{"id":"a8902cf1-28c2-4be3-82ab-688c30ae5660","block_type":"box","text":"Manager, Depositary or another FCA authorised","page_number":11,"box":{"x":63,"y":270,"width":398,"height":11}},{"id":"8b3a230b-51f6-494e-af8e-12b02323db48","block_type":"box","text":"Service Provider (including the Investment Managers)","page_number":11,"box":{"x":62,"y":284,"width":399,"height":11}},{"id":"b781bc14-2051-4c8c-bcc3-8fa6dd34a3ae","block_type":"box","text":"which is in default. As set out in section 36(v), there","page_number":11,"box":{"x":62,"y":297,"width":399,"height":12}},{"id":"58be3bbe-3cec-4cad-aff2-114d1439b6a4","block_type":"box","text":"are limits on the amount of compensation available.","page_number":11,"box":{"x":62,"y":311,"width":399,"height":11}},{"id":"65d19ce6-ecd8-40ca-a24f-53544850c4f1","block_type":"box","text":"Further information about the FSCS is at","page_number":11,"box":{"x":63,"y":325,"width":399,"height":9}},{"id":"9027ec80-2cea-4ed7-9ee1-a6cc7e84e23c","block_type":"box","text":"www.fscs.org.uk","page_number":11,"box":{"x":62,"y":338,"width":121,"height":12}},{"id":"3ae45129-8418-4ba8-84f0-dd038c975156","block_type":"box","text":". To determine eligibility in relation to","page_number":11,"box":{"x":185,"y":339,"width":276,"height":11}},{"id":"f647c416-3e55-4841-a06a-ca18edaa17f8","block_type":"box","text":"the FSCS, Unitholders should consult the website","page_number":11,"box":{"x":62,"y":352,"width":399,"height":11}},{"id":"a81f0088-7ec2-407c-a846-172fd8a81ae2","block_type":"box","text":"above and speak to their legal advisers.","page_number":11,"box":{"x":62,"y":366,"width":294,"height":11}},{"id":"c9ef503d-61ed-4ec3-9302-ce49e6888fb9","block_type":"box","text":"See section 5 above for a summary of the Depositary’s","page_number":11,"box":{"x":62,"y":385,"width":399,"height":12}},{"id":"048cc582-76e9-4bbc-a016-4c1751b20e4c","block_type":"box","text":"liability to the Scheme.","page_number":11,"box":{"x":62,"y":399,"width":166,"height":11}},{"id":"09d256c9-5a09-4048-8774-9654c41e9e85","block_type":"box","text":"13. Subscription and Redemption of Units","page_number":11,"box":{"x":74,"y":425,"width":352,"height":11}},{"id":"51c080e4-8afd-4bb1-ab5d-ea521ab96020","block_type":"box","text":"(a)","page_number":11,"box":{"x":74,"y":450,"width":19,"height":11}},{"id":"b60453ae-150b-403f-aa12-3f5eaa72a871","block_type":"box","text":"Liquidity management","page_number":11,"box":{"x":122,"y":450,"width":177,"height":11}},{"id":"3b280c2e-94e0-4524-babd-d937c8025da4","block_type":"box","text":"The ACS Manager maintains a liquidity management","page_number":11,"box":{"x":62,"y":470,"width":400,"height":11}},{"id":"e49668a1-cfe4-4581-9f46-c936cedff228","block_type":"box","text":"policy to monitor the liquidity risk of the Scheme, which","page_number":11,"box":{"x":62,"y":483,"width":399,"height":12}},{"id":"c8c8e989-870d-4ddd-84ed-f3f24c6631c8","block_type":"box","text":"includes, among other tools and methods of","page_number":11,"box":{"x":62,"y":497,"width":400,"height":11}},{"id":"ed0720b6-c27c-46cd-a802-d6ba2f3cee96","block_type":"box","text":"measurement, the use of stress tests under both","page_number":11,"box":{"x":62,"y":511,"width":399,"height":10}},{"id":"51be5412-6d1f-4d87-95a3-6d1194111873","block_type":"box","text":"normal and exceptional circumstances.","page_number":11,"box":{"x":62,"y":524,"width":288,"height":11}},{"id":"bdb490c1-c594-4016-9d92-1d05efa3df50","block_type":"box","text":"The liquidity management systems and procedures","page_number":11,"box":{"x":62,"y":544,"width":399,"height":11}},{"id":"fb726842-c846-4311-bb20-b39788636b8c","block_type":"box","text":"employed by the ACS Manager enable it to measure","page_number":11,"box":{"x":62,"y":557,"width":399,"height":12}},{"id":"75c94be1-84da-499c-8c5a-fc678f99f8b4","block_type":"box","text":"the liquidity of a Sub-Fund’s portfolio against","page_number":11,"box":{"x":62,"y":571,"width":400,"height":11}},{"id":"cf78da1a-3d49-43c6-b153-c8e8a713607a","block_type":"box","text":"thresholds set by reference to each Sub-Fund’s","page_number":11,"box":{"x":62,"y":585,"width":399,"height":11}},{"id":"82e4c90c-416c-4cdd-b268-a46fc0bdb0ab","block_type":"box","text":"redemption policy. The ACS Manager seeks to ensure","page_number":11,"box":{"x":63,"y":598,"width":398,"height":12}},{"id":"a74391ba-1c21-4863-8c7a-d4f1ae33448b","block_type":"box","text":"that the Scheme and each Sub-Fund will remain within","page_number":11,"box":{"x":62,"y":612,"width":399,"height":9}},{"id":"eff2aae1-19ec-4128-9367-b31f1f4bedc0","block_type":"box","text":"the liquidity limits set for it. The ACS Manager is also","page_number":11,"box":{"x":62,"y":626,"width":399,"height":11}},{"id":"0edc8ae9-0aa5-4a0b-969b-a59241e571ff","block_type":"box","text":"able to apply various tools and arrangements","page_number":11,"box":{"x":62,"y":640,"width":399,"height":11}},{"id":"f07c13a5-d5aa-49a0-875a-c50b8cf04942","block_type":"box","text":"necessary to respond appropriately to redemption","page_number":11,"box":{"x":62,"y":653,"width":399,"height":11}},{"id":"d146ecfa-a1c1-4aa1-a19a-733ce9c9bca4","block_type":"box","text":"requests. In normal circumstances, redemption","page_number":11,"box":{"x":63,"y":667,"width":398,"height":11}},{"id":"5b7d49ae-8dee-4ae6-8f09-3668945316e9","block_type":"box","text":"requests will be processed as set out below in section","page_number":11,"box":{"x":63,"y":681,"width":398,"height":11}},{"id":"de50d0ae-ca54-4ff3-9797-bb2a5424645a","block_type":"box","text":"13(d). Other arrangements may also be used in","page_number":11,"box":{"x":63,"y":694,"width":398,"height":11}},{"id":"33aabf9b-edff-453b-85a8-b688fd411d7a","block_type":"box","text":"response to redemption requests, including the use of","page_number":11,"box":{"x":63,"y":708,"width":399,"height":11}},{"id":"8d4420f9-ec57-4a44-b689-25501454bacc","block_type":"box","text":"the power of deferral or similar arrangements (as set","page_number":11,"box":{"x":62,"y":721,"width":400,"height":12}},{"id":"267575bd-b0af-41d9-ad81-607a17a029a9","block_type":"box","text":"out in this document, for example in section 13(f))","page_number":11,"box":{"x":62,"y":735,"width":399,"height":11}},{"id":"46fffc8e-1215-4feb-83fd-cf926633c8dc","block_type":"box","text":"which, if activated, will restrict the redemption rights","page_number":11,"box":{"x":62,"y":749,"width":399,"height":11}},{"id":"cd2d7397-8ae5-4993-a46a-47055f3e47a1","block_type":"box","text":"Unitholders benefit from in the ordinary course. The","page_number":11,"box":{"x":63,"y":762,"width":398,"height":12}},{"id":"5e75ddd9-8927-441e-a1ea-27fc1bbe5a66","block_type":"box","text":"ACS Manager may also temporarily suspend","page_number":11,"box":{"x":62,"y":776,"width":399,"height":11}},{"id":"0b534bff-00fc-4879-a2fa-c638da6c853e","block_type":"box","text":"redemptions in certain circumstances as set out in","page_number":11,"box":{"x":63,"y":790,"width":398,"height":11}},{"id":"6cf5f104-7c65-47db-b2f2-d6ce73f1176d","block_type":"box","text":"section 13(h).","page_number":11,"box":{"x":62,"y":803,"width":100,"height":11}},{"id":"cf8c4220-e507-44ea-9fbe-80cfc07f3952","block_type":"box","text":"(b)","page_number":11,"box":{"x":74,"y":829,"width":19,"height":11}},{"id":"ce7354e4-ab31-45c8-a326-2ee257cf1239","block_type":"box","text":"Subscription for Units","page_number":11,"box":{"x":122,"y":829,"width":174,"height":11}},{"id":"23d0e425-22b6-41ac-98f5-2ea587d64ec8","block_type":"box","text":"Subject to the policy on pricing (see section 18), an","page_number":11,"box":{"x":62,"y":848,"width":399,"height":12}},{"id":"7dd32582-e253-4c08-8114-0df5089780e9","block_type":"box","text":"application to subscribe for Units in the Scheme for the","page_number":11,"box":{"x":62,"y":862,"width":399,"height":11}},{"id":"0b10c496-9f67-4348-8b7d-11159279788f","block_type":"box","text":"first time must be made in writing to the ACS Manager.","page_number":11,"box":{"x":62,"y":876,"width":399,"height":11}},{"id":"f44c5b15-c70d-4549-94a8-d7b9e25d3f0d","block_type":"box","text":"For all Sub-Funds there will be an initial offer period of","page_number":11,"box":{"x":63,"y":895,"width":399,"height":12}},{"id":"39bec26f-130f-4d49-8355-df4ccca11377","block_type":"box","text":"one day. During the initial offer period, the initial offer","page_number":11,"box":{"x":62,"y":909,"width":400,"height":11}},{"id":"bd7eaa2b-cc51-4570-b000-2e3da13a600a","block_type":"box","text":"price of the Units will be £1.00. Any subsequent","page_number":11,"box":{"x":524,"y":46,"width":399,"height":11}},{"id":"4cf4234d-592a-443d-9a47-62a1013a97ac","block_type":"box","text":"subscription for Units by an existing Unitholder may be","page_number":11,"box":{"x":523,"y":59,"width":400,"height":12}},{"id":"21fea927-e161-49c2-8a64-50a639b19ee7","block_type":"box","text":"made, during Normal Business Hours, by such forms","page_number":11,"box":{"x":524,"y":73,"width":399,"height":11}},{"id":"42739e92-e635-4588-88db-bbbb152dfc0f","block_type":"box","text":"of electronic communication as may be approved by","page_number":11,"box":{"x":523,"y":87,"width":400,"height":11}},{"id":"e5140479-71bd-4306-a8d3-3b78f790339b","block_type":"box","text":"the ACS Manager or any other method otherwise","page_number":11,"box":{"x":523,"y":100,"width":400,"height":12}},{"id":"7452b7f7-398c-44e1-95e5-b4c51c759e28","block_type":"box","text":"approved by the ACS Manager.","page_number":11,"box":{"x":523,"y":114,"width":233,"height":11}},{"id":"6bcfb15b-b42a-4d56-9e66-195746cef0f2","block_type":"box","text":"When placing an order to subscribe for Units for the","page_number":11,"box":{"x":523,"y":134,"width":400,"height":11}},{"id":"44c8af5a-0722-4896-84e5-4c069b5887f3","block_type":"box","text":"first time, the ACS Manager will request that a Form be","page_number":11,"box":{"x":523,"y":147,"width":400,"height":11}},{"id":"9380c7e6-d1a3-4863-b085-b54a9281a669","block_type":"box","text":"completed and returned to the ACS Manager.","page_number":11,"box":{"x":523,"y":161,"width":337,"height":11}},{"id":"a42fc40a-b081-4e9e-ac1f-8a3ad9245185","block_type":"box","text":"The ACS Manager reserves the right to reject, on","page_number":11,"box":{"x":523,"y":180,"width":399,"height":12}},{"id":"764539fe-6074-42fb-a65e-00f8503b61e7","block_type":"box","text":"reasonable grounds, any application for Units in whole","page_number":11,"box":{"x":524,"y":194,"width":399,"height":11}},{"id":"9dcb6a77-6624-48be-9d1b-6a8253090aad","block_type":"box","text":"or in part. Failure to return a fully completed Form may","page_number":11,"box":{"x":523,"y":208,"width":400,"height":11}},{"id":"f2c64cbf-066d-4c10-839c-69fb72f19f20","block_type":"box","text":"result in a delay in the ACS Manager processing any","page_number":11,"box":{"x":524,"y":221,"width":399,"height":12}},{"id":"edcf3c92-48c2-410a-a9d8-6cc2c36e1432","block_type":"box","text":"subsequent redemption request or may result in the","page_number":11,"box":{"x":523,"y":235,"width":400,"height":11}},{"id":"9d970756-4300-408c-ba3c-243e336414a5","block_type":"box","text":"ACS Manager withholding redemption proceeds.","page_number":11,"box":{"x":523,"y":249,"width":359,"height":11}},{"id":"ce7a2419-a342-483b-a505-741aef961231","block_type":"box","text":"All requests to subscribe for Units must be received by","page_number":11,"box":{"x":523,"y":268,"width":400,"height":12}},{"id":"67c1f9fb-f81b-4f7e-8fcf-6e378ca52ddb","block_type":"box","text":"the Deal Cut-Off Point for the relevant Sub-Fund as set","page_number":11,"box":{"x":523,"y":282,"width":400,"height":9}},{"id":"febf8fca-cebb-44cb-b28a-a2dcc4c8d4d7","block_type":"box","text":"out in Appendix 1 otherwise they will be held over to","page_number":11,"box":{"x":523,"y":296,"width":400,"height":11}},{"id":"fd0080b8-3eac-4768-8c17-735c9f3b11de","block_type":"box","text":"the Valuation Point on the next Dealing Day for that","page_number":11,"box":{"x":523,"y":309,"width":400,"height":12}},{"id":"3624b27d-a2a2-478a-99c0-cec80437fad5","block_type":"box","text":"Sub-Fund. Purchase orders made by approved","page_number":11,"box":{"x":523,"y":323,"width":399,"height":11}},{"id":"a5194ab0-2b1f-4d8c-9907-1782ec315c9c","block_type":"box","text":"electronic communication and received outside of","page_number":11,"box":{"x":523,"y":337,"width":400,"height":8}},{"id":"68e85cd2-f6d8-4e0b-b945-7b4c9b52caca","block_type":"box","text":"Normal Business Hours will be affected as soon as","page_number":11,"box":{"x":524,"y":350,"width":399,"height":9}},{"id":"4754c189-8fb5-4567-ada8-bdbba7cbdcfd","block_type":"box","text":"possible on the next Business Day. Please note, to the","page_number":11,"box":{"x":524,"y":364,"width":399,"height":11}},{"id":"447401c6-eea7-4d35-8706-af79be55ddb1","block_type":"box","text":"extent being provided in advance of the associated","page_number":11,"box":{"x":523,"y":378,"width":399,"height":11}},{"id":"57026601-a1ed-4df3-aff2-15ebf98b860e","block_type":"box","text":"subscription for Units, that monies received on a","page_number":11,"box":{"x":523,"y":391,"width":400,"height":11}},{"id":"bbe238a6-6b57-48f8-ab6e-cceb07ee82de","block_type":"box","text":"Business Day when there is not a Valuation Point","page_number":11,"box":{"x":524,"y":405,"width":399,"height":11}},{"id":"d405ea4a-ac92-4029-9dda-110ded5f14bb","block_type":"box","text":"and/or which is not a Dealing Day will not be invested","page_number":11,"box":{"x":523,"y":418,"width":399,"height":12}},{"id":"88f05a26-51ab-4ed0-8f3b-7e7515864bb9","block_type":"box","text":"in the relevant Sub-Fund until the Valuation Point on","page_number":11,"box":{"x":524,"y":432,"width":398,"height":9}},{"id":"4fb1de0f-4e56-4c3c-97ae-81eb54d75579","block_type":"box","text":"the next Dealing Day.","page_number":11,"box":{"x":523,"y":446,"width":159,"height":11}},{"id":"79458bfd-706c-4141-9892-f865c9fd1432","block_type":"box","text":"A contract note will be sent to the applicant by","page_number":11,"box":{"x":523,"y":466,"width":400,"height":11}},{"id":"79e5fa5b-f0fd-4c22-9ae1-9d9322809b39","block_type":"box","text":"electronic communication on the next Business Day","page_number":11,"box":{"x":523,"y":479,"width":400,"height":11}},{"id":"5e53e043-202d-4838-8efb-6f295bbe6850","block_type":"box","text":"after the Valuation Point applicable to the deal. The","page_number":11,"box":{"x":523,"y":493,"width":400,"height":11}},{"id":"d3ad505f-2433-4c8a-9bd7-da1713c37e65","block_type":"box","text":"contract note will show the price of the relevant Units","page_number":11,"box":{"x":523,"y":507,"width":400,"height":11}},{"id":"6373701b-ce8d-493b-8e94-147ca6e9bb45","block_type":"box","text":"(per Unit and the total cost), shown to at least four","page_number":11,"box":{"x":524,"y":520,"width":399,"height":11}},{"id":"75d3001c-0a21-4b45-ad72-9898d3f9f0ca","block_type":"box","text":"significant figures. Except in the case of in specie","page_number":11,"box":{"x":523,"y":534,"width":400,"height":11}},{"id":"e3e180e9-08bf-4430-ae72-27707c2d9f73","block_type":"box","text":"subscriptions (see section 13(g) below), if a Unitholder","page_number":11,"box":{"x":523,"y":547,"width":400,"height":12}},{"id":"779a70cd-342e-41eb-9803-3f62d3fa6d02","block_type":"box","text":"has not already paid, it must ensure that the ACS","page_number":11,"box":{"x":524,"y":561,"width":398,"height":11}},{"id":"48afabb4-5d76-494d-844c-c08d8c91fdfb","block_type":"box","text":"Manager receives payment by close of business on the","page_number":11,"box":{"x":524,"y":575,"width":399,"height":11}},{"id":"d6053556-067c-417c-ad3f-52ac356897e9","block_type":"box","text":"third Business Day after the Valuation Point applicable","page_number":11,"box":{"x":523,"y":588,"width":400,"height":12}},{"id":"8a618c60-155f-44b6-ab26-102ae9b6c4d0","block_type":"box","text":"to the deal. The ACS Manager may however, subject","page_number":11,"box":{"x":523,"y":602,"width":400,"height":11}},{"id":"b84748b4-99ac-43b5-ac50-509c37374b55","block_type":"box","text":"to notifying the relevant Unitholder prior to accepting a","page_number":11,"box":{"x":523,"y":616,"width":400,"height":11}},{"id":"6c1198ed-ddf1-4d17-b600-f495b41af4a7","block_type":"box","text":"subscription request, require earlier payment. If timely","page_number":11,"box":{"x":523,"y":629,"width":400,"height":12}},{"id":"24c70541-2485-4bae-8012-2234fde9f026","block_type":"box","text":"settlement is not made, the ACS Manager may, at its","page_number":11,"box":{"x":523,"y":643,"width":400,"height":11}},{"id":"a652d7b7-1275-40a2-ab66-4261734f0368","block_type":"box","text":"sole discretion, cancel the relevant subscription of","page_number":11,"box":{"x":523,"y":657,"width":400,"height":11}},{"id":"5658f3f0-4b13-46c3-8ca2-2d8d36d7bac4","block_type":"box","text":"Units and/or an applicant may be required to pay an","page_number":11,"box":{"x":524,"y":670,"width":398,"height":12}},{"id":"369d269a-71e7-4272-bd6c-e592e6701ed0","block_type":"box","text":"administration charge to the ACS Manager to cover","page_number":11,"box":{"x":523,"y":684,"width":400,"height":11}},{"id":"0af1cd67-a5d1-4da4-a66c-f10bb6a6befa","block_type":"box","text":"any costs and resultant losses incurred by the ACS","page_number":11,"box":{"x":523,"y":698,"width":400,"height":11}},{"id":"d1571a2d-5208-4daa-9219-1a16a345fce7","block_type":"box","text":"Manager and/or the Scheme. Payment for the","page_number":11,"box":{"x":524,"y":711,"width":399,"height":12}},{"id":"d51ec383-171d-41a8-a2d9-d645cc894a01","block_type":"box","text":"subscription of Units is by electronic payment.","page_number":11,"box":{"x":523,"y":725,"width":339,"height":11}},{"id":"93474735-e765-4426-9c34-3bed1d817386","block_type":"box","text":"No certificates are issued for Units in the Scheme.","page_number":11,"box":{"x":524,"y":745,"width":370,"height":8}},{"id":"ff2d2df3-4b6e-48f8-be38-a6631e4e9244","block_type":"box","text":"In accordance with the COLL Sourcebook the ACS","page_number":11,"box":{"x":524,"y":764,"width":399,"height":9}},{"id":"e7c66d2a-ca09-4661-9bab-261707033c88","block_type":"box","text":"Manager reserves the right to refuse to issue Units in","page_number":11,"box":{"x":524,"y":778,"width":398,"height":11}},{"id":"69b2ce2f-b2fb-4171-8b32-dd3c9e1bd035","block_type":"box","text":"certain circumstances, in particular where it has","page_number":11,"box":{"x":523,"y":792,"width":400,"height":11}},{"id":"0ed1b04c-986d-4a75-8e0e-3a5a6dbe19e4","block_type":"box","text":"reasonable grounds to refuse the sale.","page_number":11,"box":{"x":524,"y":805,"width":284,"height":11}},{"id":"8ab1ec09-2bcb-48e8-9d29-c4050858e54f","block_type":"box","text":"Unitholders must meet the investment criteria for any","page_number":11,"box":{"x":524,"y":825,"width":399,"height":11}},{"id":"03c723a3-a45e-4f5d-b2fa-80cb0d5519d1","block_type":"box","text":"Unit Class in which they intend to invest. If a","page_number":11,"box":{"x":524,"y":838,"width":399,"height":12}},{"id":"ca412b66-c0b5-40c1-8cc1-fbf7e1f344c3","block_type":"box","text":"subscription request is processed for Units in a class","page_number":11,"box":{"x":523,"y":852,"width":400,"height":11}},{"id":"95aee0c0-b6a0-4d4f-9660-5375db38617e","block_type":"box","text":"in which a Unitholder does not meet the investment","page_number":11,"box":{"x":524,"y":866,"width":399,"height":9}},{"id":"4998c5ae-87f1-47fd-b462-33d46c7ee337","block_type":"box","text":"criteria then the ACS Manager reserves the right to","page_number":11,"box":{"x":523,"y":879,"width":400,"height":12}},{"id":"525083ea-c935-42f9-918d-81e197bd5369","block_type":"box","text":"switch the Unitholder into a more appropriate class in","page_number":11,"box":{"x":523,"y":893,"width":399,"height":11}},{"id":"384a31ed-a959-4285-9d3d-e697a6b9af1a","block_type":"box","text":"the Scheme (where available) or redeem the","page_number":11,"box":{"x":523,"y":907,"width":400,"height":11}},{"id":"da9ad56b-7c84-42b8-9e21-3dad3ffc52d9","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 12","page_number":12,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"ef5df867-b85e-4e09-bbb0-e82dda560269","block_type":"box","text":"Unitholder's Units. In such a scenario the ACS","page_number":12,"box":{"x":63,"y":46,"width":398,"height":9}},{"id":"f74fdae7-0802-4507-bfe2-501a98564579","block_type":"box","text":"Manager is not obliged to give the Unitholder prior","page_number":12,"box":{"x":63,"y":60,"width":399,"height":11}},{"id":"7f8381f2-d90f-4b0c-9479-65444bfab135","block_type":"box","text":"notice of its actions and the Unitholder bears any","page_number":12,"box":{"x":62,"y":73,"width":400,"height":11}},{"id":"e0c538db-62d9-43a3-9e7b-8c598e4abbee","block_type":"box","text":"consequential risk including that of market movement.","page_number":12,"box":{"x":62,"y":87,"width":398,"height":11}},{"id":"cb9f8a71-fcae-4ab6-bca5-81db2b8d6d98","block_type":"box","text":"(c)","page_number":12,"box":{"x":74,"y":112,"width":18,"height":11}},{"id":"6ce8d5e9-1fdd-45d9-9971-43838240b87c","block_type":"box","text":"Cancellation rights","page_number":12,"box":{"x":122,"y":112,"width":149,"height":11}},{"id":"22da7b1c-d8ca-414f-94da-02881c5e06ed","block_type":"box","text":"Any Unitholder who is a consumer (as defined in the","page_number":12,"box":{"x":62,"y":132,"width":400,"height":11}},{"id":"623bd8a4-8d93-4281-91d3-a117342d5679","block_type":"box","text":"FCA Handbook) may have 14 days in which to cancel","page_number":12,"box":{"x":63,"y":145,"width":398,"height":12}},{"id":"64905717-ebe8-4372-a795-3208b980b3c0","block_type":"box","text":"the relevant purchase if advised to subscribe for Units","page_number":12,"box":{"x":62,"y":159,"width":399,"height":11}},{"id":"5261cd72-48a9-4835-9f17-d33b2f2c46ea","block_type":"box","text":"by an authorised person through whom a Unitholder's","page_number":12,"box":{"x":62,"y":173,"width":399,"height":11}},{"id":"3f95c06b-8da6-4f37-9521-5d66e363156a","block_type":"box","text":"business is placed with the ACS Manager unless an","page_number":12,"box":{"x":62,"y":186,"width":399,"height":12}},{"id":"1f67447d-7b4a-42aa-92bf-cf9e708e44c4","block_type":"box","text":"appropriate customer agreement exists between such","page_number":12,"box":{"x":62,"y":200,"width":399,"height":11}},{"id":"1106b00b-00ab-4bff-87c1-df68e9c61cec","block_type":"box","text":"authorised person and the Unitholder. The 14 days","page_number":12,"box":{"x":62,"y":214,"width":399,"height":11}},{"id":"96eddc08-8221-4503-9f16-2ac5b60f71f7","block_type":"box","text":"commences upon receipt of the contract note by the","page_number":12,"box":{"x":62,"y":227,"width":399,"height":12}},{"id":"f0a23926-de74-4527-8e19-bbeecf76d46e","block_type":"box","text":"Unitholder. A Unitholder will need to notify the ACS","page_number":12,"box":{"x":63,"y":241,"width":398,"height":11}},{"id":"0e452dbc-4b06-4c1b-a85e-6d0e654b33da","block_type":"box","text":"Manager in writing that it wishes to exercise a right to","page_number":12,"box":{"x":63,"y":255,"width":398,"height":11}},{"id":"4ccb021f-64fb-4550-9420-886d414aca17","block_type":"box","text":"cancel. Unitholders should note that exercising a right","page_number":12,"box":{"x":62,"y":269,"width":400,"height":11}},{"id":"94c1d986-60d3-4691-83bd-97fa3d7bc299","block_type":"box","text":"to cancel does not necessarily mean that a Unitholder","page_number":12,"box":{"x":62,"y":282,"width":400,"height":11}},{"id":"19300e5b-bb7a-4e20-aba9-de0f920814e3","block_type":"box","text":"will receive back the amount invested. Unitholders will","page_number":12,"box":{"x":62,"y":296,"width":399,"height":9}},{"id":"6bf86696-e4e2-40cc-9ef8-286300d932c5","block_type":"box","text":"receive back an amount based on the subscription","page_number":12,"box":{"x":63,"y":310,"width":398,"height":10}},{"id":"5bff626d-7445-452c-9c21-a5d0e21bc77c","block_type":"box","text":"price next calculated following the ACS Manager's","page_number":12,"box":{"x":62,"y":323,"width":399,"height":11}},{"id":"4fbe5ca8-df07-4ee3-84f4-d1b73b6ac3cc","block_type":"box","text":"receipt of a valid cancellation notice in writing. A","page_number":12,"box":{"x":63,"y":337,"width":399,"height":11}},{"id":"cdb1716c-3e1c-4e2c-bd59-6969cd1c2419","block_type":"box","text":"Unitholder which has not yet paid for the investment","page_number":12,"box":{"x":63,"y":350,"width":399,"height":11}},{"id":"a9cc20ea-1adb-4a0e-b1d9-33d9e1b1b1fb","block_type":"box","text":"will be liable to make up any shortfall. Proceeds from","page_number":12,"box":{"x":62,"y":364,"width":399,"height":11}},{"id":"535286e6-71ff-4749-a253-d06c20a1728f","block_type":"box","text":"cancellation will be retained until the purchase","page_number":12,"box":{"x":62,"y":378,"width":399,"height":11}},{"id":"823e4966-f801-48c5-ad15-92fb0a8e5dee","block_type":"box","text":"payment has cleared. This may be for a period of up to","page_number":12,"box":{"x":62,"y":391,"width":399,"height":11}},{"id":"9660a343-3a5a-4a28-ae1d-e938f6c6f797","block_type":"box","text":"21 calendar days from the date of subscription. No","page_number":12,"box":{"x":62,"y":405,"width":399,"height":11}},{"id":"b5807002-8c9a-4ab4-acfb-04bc3cecfdc2","block_type":"box","text":"interest will be paid on cancellation monies.","page_number":12,"box":{"x":62,"y":419,"width":321,"height":11}},{"id":"735aac12-674e-4e13-84b0-75689913eb5a","block_type":"box","text":"(d)","page_number":12,"box":{"x":74,"y":444,"width":19,"height":11}},{"id":"9c64981d-9be6-463d-ba38-9c8055ec2c3d","block_type":"box","text":"Redemption of Units","page_number":12,"box":{"x":122,"y":444,"width":162,"height":11}},{"id":"2ec6669b-d365-45c0-9626-0d26be2e9c28","block_type":"box","text":"Subject to the policy on pricing (see section 18) and","page_number":12,"box":{"x":62,"y":464,"width":399,"height":11}},{"id":"3a1c4d9f-0555-47f5-8900-d9fa03919ad0","block_type":"box","text":"the timing of each Sub-Fund’s Valuation Points for the","page_number":12,"box":{"x":62,"y":477,"width":399,"height":12}},{"id":"b35c7175-830d-4728-84a6-277e75fe406d","block_type":"box","text":"purposes of dealing (as set out in Appendix 1), Units","page_number":12,"box":{"x":62,"y":491,"width":399,"height":11}},{"id":"913031ce-6392-4838-9195-ada7d1ca3211","block_type":"box","text":"in any Sub-Fund may normally be redeemed during","page_number":12,"box":{"x":62,"y":505,"width":399,"height":11}},{"id":"ccdfbcbf-5ab1-4c19-929f-f73341373cc2","block_type":"box","text":"Normal Business Hours. All requests for redemption","page_number":12,"box":{"x":63,"y":518,"width":398,"height":11}},{"id":"a4d13c1f-6042-4525-9da8-e4d4ad5a0f15","block_type":"box","text":"must be received by the Deal Cut-Off Point on a","page_number":12,"box":{"x":62,"y":532,"width":400,"height":11}},{"id":"eb2de5fa-4577-40a4-89fa-e1b7b7dc912a","block_type":"box","text":"Dealing Day for the relevant Sub-Fund as set out in","page_number":12,"box":{"x":63,"y":546,"width":398,"height":11}},{"id":"d8f616f4-3114-43d2-94ca-ea8f9aa63867","block_type":"box","text":"Appendix 1 otherwise they will be held over to the next","page_number":12,"box":{"x":62,"y":560,"width":400,"height":11}},{"id":"8864f291-da80-4546-8e92-197e4443635f","block_type":"box","text":"following Dealing Day.","page_number":12,"box":{"x":62,"y":573,"width":164,"height":11}},{"id":"179236b4-9203-4f28-9d28-08eff5f1efde","block_type":"box","text":"","page_number":12,"box":{"x":62,"y":599,"width":8,"height":0}},{"id":"ffa260ef-b560-41f7-b86a-e7135141dcde","block_type":"box","text":"Redeeming Unitholders must complete a","page_number":12,"box":{"x":87,"y":594,"width":375,"height":11}},{"id":"75567c12-3748-4b6e-9591-e8ae7ac0a45f","block_type":"box","text":"redemption request by such forms of electronic","page_number":12,"box":{"x":86,"y":607,"width":376,"height":11}},{"id":"8ba1819e-3c4f-4b75-8788-52d10f6e30de","block_type":"box","text":"communication as may be approved by the ACS","page_number":12,"box":{"x":86,"y":621,"width":375,"height":11}},{"id":"af2ddf19-2e0b-4581-82ef-0a999829e4d7","block_type":"box","text":"Manager or any other method otherwise approved","page_number":12,"box":{"x":86,"y":634,"width":375,"height":12}},{"id":"a88db953-bc7b-4ba0-8e87-c97a77ab5aa0","block_type":"box","text":"by the ACS Manager.","page_number":12,"box":{"x":86,"y":648,"width":158,"height":11}},{"id":"61794291-6741-4c44-981e-7a17bd66c19b","block_type":"box","text":"","page_number":12,"box":{"x":62,"y":674,"width":8,"height":0}},{"id":"380543bc-796b-48bc-8b3f-7e252f33dd2c","block_type":"box","text":"The ACS Manager will send Unitholders a contract","page_number":12,"box":{"x":85,"y":668,"width":377,"height":12}},{"id":"149228f2-6dad-4c8c-a953-3d0d39888fc0","block_type":"box","text":"note for the redeemed Units by electronic","page_number":12,"box":{"x":86,"y":682,"width":376,"height":11}},{"id":"16966b49-6373-4fb1-a935-922f3bdbda71","block_type":"box","text":"communication by close of business on the","page_number":12,"box":{"x":86,"y":696,"width":375,"height":11}},{"id":"a624e5d8-791b-4af6-b3a1-c90d532c52b6","block_type":"box","text":"Business Day after the Valuation Point on which the","page_number":12,"box":{"x":86,"y":709,"width":375,"height":12}},{"id":"95ec2fd6-a6da-49d0-aaf9-8a24688e5705","block_type":"box","text":"redemption request is accepted by the ACS","page_number":12,"box":{"x":86,"y":723,"width":375,"height":11}},{"id":"fc834dfa-cd4a-4b4b-a865-8ef52892972b","block_type":"box","text":"Manager.","page_number":12,"box":{"x":86,"y":737,"width":68,"height":11}},{"id":"b1f3054d-ebd3-42af-ab9d-b9bd910f911d","block_type":"box","text":"","page_number":12,"box":{"x":62,"y":762,"width":8,"height":1}},{"id":"537b9773-7946-46e9-bdb7-48636f7a3d35","block_type":"box","text":"Except in the case of in specie redemptions (see","page_number":12,"box":{"x":87,"y":757,"width":374,"height":11}},{"id":"1e29d4ef-220b-4be3-9f73-5918a3d5cc36","block_type":"box","text":"section 13(g) below) or deferred redemptions (see","page_number":12,"box":{"x":86,"y":771,"width":375,"height":11}},{"id":"86946b4c-4a9d-4038-b6fb-515acd60aa2c","block_type":"box","text":"section 13(f) below), the proceeds will be sent to","page_number":12,"box":{"x":86,"y":784,"width":375,"height":11}},{"id":"4ef168a0-e657-4edc-9620-4834cf85cb1f","block_type":"box","text":"Unitholders by electronic payment by the close of","page_number":12,"box":{"x":87,"y":798,"width":375,"height":11}},{"id":"c2f84107-8058-40ee-b0fb-a243d46c06f1","block_type":"box","text":"business on the third Business Day after the later","page_number":12,"box":{"x":86,"y":812,"width":376,"height":11}},{"id":"ed2f71db-ba5e-41d5-97b4-da6acf984283","block_type":"box","text":"of the following times:","page_number":12,"box":{"x":86,"y":825,"width":159,"height":12}},{"id":"9968694d-2b8d-4150-9039-9ceb845f4e7f","block_type":"box","text":"(i) the Valuation Point at which the redemption","page_number":12,"box":{"x":86,"y":845,"width":375,"height":11}},{"id":"56b98ac6-de64-4ec8-868c-eaf1ee72bdd3","block_type":"box","text":"instructions were processed; or","page_number":12,"box":{"x":110,"y":859,"width":231,"height":11}},{"id":"1e276647-a946-4877-80ca-5233802edf05","block_type":"box","text":"(ii) the date of receipt of the instructions to redeem.","page_number":12,"box":{"x":86,"y":878,"width":375,"height":11}},{"id":"5ed5900d-68e9-4e7c-8ff3-724de4bb1d4e","block_type":"box","text":"(e)","page_number":12,"box":{"x":536,"y":46,"width":18,"height":11}},{"id":"70f1384c-49b5-4763-9d3b-82d2cd8e19dc","block_type":"box","text":"Delivery Versus Payment (“DvP”)","page_number":12,"box":{"x":583,"y":46,"width":340,"height":11}},{"id":"2675998a-0e01-4d00-842a-6f2a1eb8db71","block_type":"box","text":"Exemption","page_number":12,"box":{"x":583,"y":59,"width":84,"height":11}},{"id":"5f0acaa6-6b89-4a96-b7e2-1bbb5c0a1780","block_type":"box","text":"The","page_number":12,"box":{"x":523,"y":79,"width":28,"height":9}},{"id":"39d9728a-89d6-489e-8b53-ae7f23212c0d","block_type":"box","text":"ACS Manager may make use of the Delivery","page_number":12,"box":{"x":561,"y":79,"width":362,"height":11}},{"id":"4abc8f56-4dca-4087-ac03-17f9d39a3e41","block_type":"box","text":"versus Payment (“DvP”) exemption for Unitholders","page_number":12,"box":{"x":523,"y":93,"width":400,"height":11}},{"id":"de0968bf-f250-46a9-81bb-50b2eda49451","block_type":"box","text":"that consent, as set out in the FCA Client Asset Rules","page_number":12,"box":{"x":523,"y":106,"width":400,"height":11}},{"id":"197d1cef-7ff8-481d-8333-d2774141d874","block_type":"box","text":"(“CASS Rules”), which provides for a one business day","page_number":12,"box":{"x":524,"y":120,"width":399,"height":11}},{"id":"710dcdb4-ea5e-4b4a-b37f-2ad67366a4f2","block_type":"box","text":"window during which Unitholders’ money held by the","page_number":12,"box":{"x":523,"y":134,"width":400,"height":11}},{"id":"fd6cb8d1-a9e1-44ca-9f50-b9e00e759a58","block_type":"box","text":"ACS Manager for the purposes of settling a transaction","page_number":12,"box":{"x":523,"y":147,"width":399,"height":11}},{"id":"f93b5538-b200-46c8-9f19-e8acf8f644b6","block_type":"box","text":"in Units is not treated as “client money” within the","page_number":12,"box":{"x":524,"y":161,"width":399,"height":11}},{"id":"a7a26f01-8407-4e6e-90dd-442a12c40c57","block_type":"box","text":"meaning of the CASS Rules. Specifically, under the","page_number":12,"box":{"x":524,"y":174,"width":399,"height":12}},{"id":"4b49e490-9024-4cee-be03-25916419d0c1","block_type":"box","text":"DvP exemption, money received by the ACS Manager","page_number":12,"box":{"x":524,"y":188,"width":399,"height":11}},{"id":"8cb99986-1752-414f-8a3b-24890a2a60e5","block_type":"box","text":"from an Unitholder, or money due to be paid to a","page_number":12,"box":{"x":523,"y":202,"width":400,"height":11}},{"id":"ab3e2fba-d714-4c2f-8c9e-a010283a80d2","block_type":"box","text":"Unitholder by the ACS Manager, need not be treated","page_number":12,"box":{"x":524,"y":215,"width":398,"height":12}},{"id":"ae1fcadc-900a-4195-9fd1-3d315e11efe0","block_type":"box","text":"as client money if: (i) the ACS Manager receives the","page_number":12,"box":{"x":523,"y":229,"width":400,"height":11}},{"id":"7cad5527-00db-47db-98e5-757a458e6315","block_type":"box","text":"money from a Unitholder in relation to the ACS","page_number":12,"box":{"x":524,"y":243,"width":399,"height":11}},{"id":"7c955aea-8a66-4268-a0d6-42a2849e6e17","block_type":"box","text":"Manager’s obligation to issue Units in the ACS and the","page_number":12,"box":{"x":524,"y":256,"width":399,"height":12}},{"id":"ed273c7c-722d-469e-aebd-eae7f680ccfc","block_type":"box","text":"money is passed to the Depositary for the purpose of","page_number":12,"box":{"x":524,"y":270,"width":399,"height":11}},{"id":"d05cffe4-61e4-4cb9-a10b-31ad10009f6e","block_type":"box","text":"this obligation in the relevant Sub-Fund within the","page_number":12,"box":{"x":523,"y":284,"width":400,"height":11}},{"id":"ac1a8112-6a61-4169-809e-6a8519dea9fd","block_type":"box","text":"timeframes set out in the FCA Rules; or (ii) the ACS","page_number":12,"box":{"x":523,"y":297,"width":399,"height":12}},{"id":"2e39dbe7-8740-4e47-aa0d-d39b5af0523e","block_type":"box","text":"Manager holds the money in the course of redeeming","page_number":12,"box":{"x":524,"y":311,"width":398,"height":11}},{"id":"11418208-285c-40c5-be7e-e43a8a81449f","block_type":"box","text":"Units provided that the proceeds of that redemption","page_number":12,"box":{"x":524,"y":325,"width":398,"height":11}},{"id":"8f2c88e3-2929-4740-bf02-dbc529ee0708","block_type":"box","text":"are paid to a Unitholder within the timeframes set out","page_number":12,"box":{"x":523,"y":338,"width":400,"height":12}},{"id":"0c1f74a1-4154-4941-9284-2d13eb4f2dcb","block_type":"box","text":"in the FCA Rules.","page_number":12,"box":{"x":524,"y":352,"width":129,"height":9}},{"id":"29ebc228-0e9e-4531-b000-a694c6624545","block_type":"box","text":"(f)","page_number":12,"box":{"x":536,"y":378,"width":13,"height":11}},{"id":"7cb6b5e6-8ba4-451c-93f9-15cb5960867a","block_type":"box","text":"Deferred redemption","page_number":12,"box":{"x":583,"y":378,"width":163,"height":11}},{"id":"3d6552d4-a716-4113-b55f-fe3d620c39d0","block_type":"box","text":"At times of excessive redemptions the ACS Manager","page_number":12,"box":{"x":523,"y":397,"width":400,"height":11}},{"id":"dc2fc2a9-92c2-4a25-b15c-a20638c596c3","block_type":"box","text":"may decide to defer redemptions at any Valuation","page_number":12,"box":{"x":524,"y":411,"width":398,"height":11}},{"id":"22d4ff71-9b1d-4a49-8b93-e9f89459940d","block_type":"box","text":"Point to the next Valuation Point where the requested","page_number":12,"box":{"x":524,"y":425,"width":398,"height":11}},{"id":"cb159ff4-575b-4349-9027-b53a8cf2ef47","block_type":"box","text":"aggregate redemptions exceed 10 % of the Scheme's","page_number":12,"box":{"x":523,"y":438,"width":399,"height":11}},{"id":"509f5fa7-4401-48a2-ab77-ca4247080353","block_type":"box","text":"value. This will therefore allow the ACS Manager to","page_number":12,"box":{"x":523,"y":452,"width":400,"height":11}},{"id":"d910b2ec-e005-438b-8fde-8c46449d538e","block_type":"box","text":"protect the interests of continuing Unitholders by","page_number":12,"box":{"x":524,"y":466,"width":399,"height":11}},{"id":"2a40b018-490e-445b-b57e-785045b10b7c","block_type":"box","text":"allowing the ACS Manager to match the sale of","page_number":12,"box":{"x":523,"y":479,"width":400,"height":11}},{"id":"f7d3e1f2-334c-4449-8d91-71a41029415d","block_type":"box","text":"scheme property to the level of redemptions. This","page_number":12,"box":{"x":523,"y":493,"width":400,"height":11}},{"id":"8a274a4f-7b5d-4409-ba43-78b78bdffe7f","block_type":"box","text":"should reduce the impact of dilution on the Scheme.","page_number":12,"box":{"x":523,"y":506,"width":399,"height":12}},{"id":"806474b9-f20f-4337-9db6-21e82f6c3440","block_type":"box","text":"All Unitholders who have sought to redeem Units at","page_number":12,"box":{"x":523,"y":520,"width":400,"height":11}},{"id":"977422fa-eefa-4fca-893c-bca750acf64d","block_type":"box","text":"any Valuation Point at which redemptions are deferred","page_number":12,"box":{"x":523,"y":534,"width":399,"height":11}},{"id":"30a474d3-cc2f-4ae3-abbc-da7870e40007","block_type":"box","text":"will be treated consistently and any redemption","page_number":12,"box":{"x":523,"y":548,"width":399,"height":11}},{"id":"64b7ff84-e16a-4c56-80a3-7f3801df4839","block_type":"box","text":"requests received following the decision to defer","page_number":12,"box":{"x":524,"y":561,"width":399,"height":11}},{"id":"e1bc2e02-83b2-481c-8676-afa3d6f96bfc","block_type":"box","text":"redemptions will not be processed until the redemption","page_number":12,"box":{"x":524,"y":575,"width":398,"height":11}},{"id":"90b90709-03a3-4c69-98fd-bed43fea51ec","block_type":"box","text":"requests that have been deferred to subsequent","page_number":12,"box":{"x":524,"y":588,"width":399,"height":12}},{"id":"273ebe25-4e49-41bc-a3b3-d8a64d283ce2","block_type":"box","text":"Valuation Points have been processed.","page_number":12,"box":{"x":523,"y":602,"width":289,"height":11}},{"id":"32b6f91a-7224-49b9-b3b0-e65d6704b562","block_type":"box","text":"(g)","page_number":12,"box":{"x":536,"y":628,"width":18,"height":11}},{"id":"cdef39ab-5904-4a20-b2bb-29d8be9841ee","block_type":"box","text":"In specie subscriptions and redemptions","page_number":12,"box":{"x":583,"y":628,"width":325,"height":11}},{"id":"b4989087-af64-4164-bac5-468132870bce","block_type":"box","text":"The ACS Manager may, at its discretion, arrange for","page_number":12,"box":{"x":523,"y":647,"width":400,"height":11}},{"id":"6b5c6f82-f5e9-49d4-a7ab-3a6455ef1a71","block_type":"box","text":"the Depositary to issue Units in exchange for assets","page_number":12,"box":{"x":523,"y":661,"width":400,"height":11}},{"id":"d1db425f-2c1f-42a5-9413-fc8c12c76f3c","block_type":"box","text":"other than cash. The Depositary may, on the","page_number":12,"box":{"x":523,"y":675,"width":400,"height":11}},{"id":"8c61e047-779c-43e7-a6ee-bc3328e2046c","block_type":"box","text":"instruction of the ACS Manager, pay out of the relevant","page_number":12,"box":{"x":524,"y":688,"width":399,"height":11}},{"id":"b04eb860-d894-4cf6-8932-b180e0317e90","block_type":"box","text":"Sub-Fund assets other than cash as payment for the","page_number":12,"box":{"x":523,"y":702,"width":400,"height":11}},{"id":"27854445-93d9-4da3-84b1-e2e08cf49834","block_type":"box","text":"redemption of Units. An in specie subscription or in","page_number":12,"box":{"x":524,"y":716,"width":398,"height":11}},{"id":"6eb53169-ce62-438a-a1c4-5622ab165581","block_type":"box","text":"specie redemption will only take place where the","page_number":12,"box":{"x":523,"y":729,"width":400,"height":11}},{"id":"a43674f5-4b80-4b04-bea9-c66ce94b865d","block_type":"box","text":"Depositary has taken reasonable care to determine","page_number":12,"box":{"x":524,"y":743,"width":399,"height":11}},{"id":"3643da70-d1c2-49ec-88f1-a7c6c819473d","block_type":"box","text":"that it is not likely to result in any material prejudice to","page_number":12,"box":{"x":523,"y":757,"width":400,"height":11}},{"id":"ba4df606-07c1-4480-b0b1-2b8e35c62296","block_type":"box","text":"the interests of Unitholders in the relevant Sub-Fund.","page_number":12,"box":{"x":523,"y":770,"width":391,"height":9}},{"id":"1a352093-0cfb-4c0a-9287-5b567a079bbb","block_type":"box","text":"The ACS Manager will not issue Units in any Sub-Fund","page_number":12,"box":{"x":523,"y":790,"width":400,"height":11}},{"id":"32d3028a-edd9-4a1d-a808-d08f7aa87f71","block_type":"box","text":"in exchange for assets the holding of which would be","page_number":12,"box":{"x":524,"y":803,"width":399,"height":12}},{"id":"6b7bc8cb-2d9d-4a98-bb2c-e39ddb85b251","block_type":"box","text":"inconsistent with the investment objectives or policy of","page_number":12,"box":{"x":524,"y":817,"width":399,"height":11}},{"id":"af22b7c8-aa38-4641-81b4-03102ba261c8","block_type":"box","text":"that Sub-Fund.","page_number":12,"box":{"x":523,"y":831,"width":109,"height":9}},{"id":"f20aeea9-3a0e-4496-bb2a-0b3c6c4838a5","block_type":"box","text":"Where the ACS Manager elects to carry out an in","page_number":12,"box":{"x":523,"y":850,"width":399,"height":11}},{"id":"b7188f8f-f305-4b50-819c-7d73a8b840c0","block_type":"box","text":"specie redemption, it must notify the Unitholder of this","page_number":12,"box":{"x":523,"y":864,"width":400,"height":11}},{"id":"aa6497b5-63ee-40c0-bb82-543bfb81a5b0","block_type":"box","text":"in writing no later than the close of business on the","page_number":12,"box":{"x":524,"y":878,"width":399,"height":11}},{"id":"080bc1bc-456d-4d6e-b1d7-b4b80cb9642a","block_type":"box","text":"second Business Day after the day on which it","page_number":12,"box":{"x":523,"y":891,"width":400,"height":11}},{"id":"4597a1af-c40b-4372-abb9-8b7444032da2","block_type":"box","text":"received selling instructions from the Unitholder","page_number":12,"box":{"x":524,"y":905,"width":351,"height":11}},{"id":"0c169329-e5cf-484a-9051-27568cd3f5bf","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 13","page_number":13,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"f470e346-d795-49cc-86bb-ab738354d951","block_type":"box","text":"Where there is an in specie redemption, the Depositary","page_number":13,"box":{"x":62,"y":46,"width":400,"height":11}},{"id":"7911e39f-d291-4998-994c-a3451f8e2151","block_type":"box","text":"will, in accordance with the rules of the COLL","page_number":13,"box":{"x":62,"y":59,"width":400,"height":11}},{"id":"b6b30212-95cc-4162-ad0d-171cc14820d3","block_type":"box","text":"Sourcebook, cancel the Units and transfer a","page_number":13,"box":{"x":62,"y":73,"width":400,"height":10}},{"id":"29db0607-f396-4a96-b45a-dcc88cfa1b7e","block_type":"box","text":"proportionate share of the assets of the relevant Sub","page_number":13,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"f22dfff6-b991-4336-9049-46759923d951","block_type":"box","text":"Fund or such selection from the property of the","page_number":13,"box":{"x":63,"y":100,"width":398,"height":11}},{"id":"1f762f8d-dbf2-4aa9-b3ea-c0fd88dfbcb0","block_type":"box","text":"Scheme as the Depositary, after consultation with the","page_number":13,"box":{"x":62,"y":114,"width":399,"height":11}},{"id":"a04707be-59a6-4f29-9c67-03f3b33a2f93","block_type":"box","text":"ACS Manager, decides is reasonable to the","page_number":13,"box":{"x":62,"y":128,"width":399,"height":11}},{"id":"4e8c3ce3-0c57-47e1-9117-a51bd6671313","block_type":"box","text":"Unitholder, in either case having regard to the need to","page_number":13,"box":{"x":63,"y":142,"width":398,"height":11}},{"id":"433e1106-302b-4fc2-9f84-6f40179984f3","block_type":"box","text":"be fair both to the Unitholder taking the in specie","page_number":13,"box":{"x":62,"y":155,"width":399,"height":11}},{"id":"5898b218-45d8-4af0-a274-96d9e9eb03f3","block_type":"box","text":"redemption and to continuing Unitholders.","page_number":13,"box":{"x":63,"y":169,"width":308,"height":11}},{"id":"a9331e56-1065-4dcb-ab20-eff042e020eb","block_type":"box","text":"Irrespective of the value of the Units, where a","page_number":13,"box":{"x":63,"y":188,"width":399,"height":11}},{"id":"ce9d37ac-b41c-404b-9a08-70a21aae1330","block_type":"box","text":"Unitholder wishes to redeem and the ACS Manager","page_number":13,"box":{"x":63,"y":202,"width":399,"height":11}},{"id":"7ec649cd-d8ac-4e30-b241-814503990058","block_type":"box","text":"has elected to provide an in specie transfer, the","page_number":13,"box":{"x":62,"y":216,"width":399,"height":11}},{"id":"15b47013-7aa7-47d8-8f21-4da0f9d7b004","block_type":"box","text":"Unitholder is entitled to instruct the ACS Manager not","page_number":13,"box":{"x":63,"y":229,"width":399,"height":11}},{"id":"cd288baa-1f41-4880-9225-86678a6f531c","block_type":"box","text":"to transfer assets, but to sell those assets (other than","page_number":13,"box":{"x":62,"y":243,"width":399,"height":11}},{"id":"1ce6bbfc-4a5f-4d10-8878-310dec9abcb3","block_type":"box","text":"those in cash in the relevant currency) and pay to the","page_number":13,"box":{"x":62,"y":256,"width":399,"height":12}},{"id":"c5793f9d-3328-456a-9994-b14630b3c588","block_type":"box","text":"Unitholder the net proceeds of sale (and cash).","page_number":13,"box":{"x":63,"y":270,"width":398,"height":11}},{"id":"139e4a25-d747-4699-951c-0e99ae51ff46","block_type":"box","text":"However, instruction must be given by the Unitholder","page_number":13,"box":{"x":63,"y":284,"width":399,"height":11}},{"id":"64ddfbaa-4f54-48d4-baf0-a333723a4dec","block_type":"box","text":"in writing to the ACS Manager by the close of business","page_number":13,"box":{"x":62,"y":297,"width":399,"height":12}},{"id":"af15dddd-a320-459d-ba55-8533366a9f1b","block_type":"box","text":"on the fourth Business Day after receipt of the ACS","page_number":13,"box":{"x":62,"y":311,"width":399,"height":11}},{"id":"5af58e2f-f2fa-44e3-bc06-9eef0961d174","block_type":"box","text":"Manager's notice of election to provide an in specie","page_number":13,"box":{"x":63,"y":325,"width":398,"height":11}},{"id":"13201f67-1efc-4d54-88e6-e8ab5837ce27","block_type":"box","text":"redemption. The value raised will not necessarily","page_number":13,"box":{"x":63,"y":339,"width":399,"height":11}},{"id":"ef2b063c-1eb8-4a8c-9f75-d1db1a3ad8de","block_type":"box","text":"correspond with the applicable published bid price.","page_number":13,"box":{"x":62,"y":352,"width":374,"height":11}},{"id":"7040ae19-abaa-4eb7-955a-c2654f16cda0","block_type":"box","text":"The ACS Manager may, in its sole discretion, agree to","page_number":13,"box":{"x":62,"y":372,"width":399,"height":11}},{"id":"b432c2c7-a786-4630-9d2e-531cef887c94","block_type":"box","text":"a request from a Unitholder for an in specie redemption","page_number":13,"box":{"x":62,"y":385,"width":399,"height":11}},{"id":"e27bdfac-e8c9-4b7e-8328-2481eafd97cf","block_type":"box","text":"where it receives such request in advance of the","page_number":13,"box":{"x":62,"y":399,"width":399,"height":11}},{"id":"80e483b9-54a1-4165-bcdc-734b630ee65d","block_type":"box","text":"redemption request. Where the ACS Manager does","page_number":13,"box":{"x":63,"y":413,"width":398,"height":11}},{"id":"178fc61d-00c5-4ca9-99f6-87bd800f693b","block_type":"box","text":"agree, the Depositary will transfer assets to the","page_number":13,"box":{"x":62,"y":426,"width":399,"height":12}},{"id":"496e60ca-4ea4-44eb-947b-3293a7363041","block_type":"box","text":"Unitholder of the relevant Sub-Fund in the manner set","page_number":13,"box":{"x":63,"y":440,"width":399,"height":9}},{"id":"f3d39839-847d-4314-9531-e66d01e37df0","block_type":"box","text":"out above.","page_number":13,"box":{"x":62,"y":454,"width":76,"height":8}},{"id":"7e8f42e6-cf34-4687-9b4b-1cd1295f49ae","block_type":"box","text":"(h)","page_number":13,"box":{"x":74,"y":479,"width":19,"height":11}},{"id":"c8f1cc43-5fff-4c66-ac3b-8a46a487304a","block_type":"box","text":"Suspension","page_number":13,"box":{"x":122,"y":479,"width":93,"height":11}},{"id":"05bea2c7-c11e-462f-b654-26dc14dd9eda","block_type":"box","text":"The ACS Manager may, with the prior agreement of","page_number":13,"box":{"x":62,"y":499,"width":400,"height":11}},{"id":"28be34f4-4ea7-4530-bd0e-e7f281eb4747","block_type":"box","text":"the Depositary, and must without delay, if the","page_number":13,"box":{"x":62,"y":513,"width":399,"height":11}},{"id":"b7e0ceb9-2024-497b-aaa3-ed28c4a60b28","block_type":"box","text":"Depositary so requires, temporarily suspend the issue","page_number":13,"box":{"x":63,"y":526,"width":398,"height":11}},{"id":"7ca8d924-c6af-44ae-ad19-da07ca9853aa","block_type":"box","text":"and redemption of Units for a period of time where due","page_number":13,"box":{"x":62,"y":540,"width":399,"height":11}},{"id":"1cfd3ded-0b00-4901-a8d5-3dcdb3587602","block_type":"box","text":"to exceptional circumstances it is in the interest of all","page_number":13,"box":{"x":62,"y":553,"width":399,"height":11}},{"id":"896a4cd0-cc04-49b3-bb3a-f90d5d382fec","block_type":"box","text":"Unitholders in the relevant Sub-Fund.","page_number":13,"box":{"x":63,"y":567,"width":275,"height":9}},{"id":"dcaacbd3-a908-4c42-bcf1-2c4c9217626e","block_type":"box","text":"The ACS Manager and Depositary must ensure that","page_number":13,"box":{"x":62,"y":587,"width":400,"height":11}},{"id":"e30e4b62-40e8-4ae4-8f1c-2ac8d43ccd3b","block_type":"box","text":"the period of suspension is only allowed to continue for","page_number":13,"box":{"x":62,"y":600,"width":400,"height":11}},{"id":"7b2efdfa-fd21-4912-883e-0eb6385351e3","block_type":"box","text":"as long as it is justified having regard to the interest of","page_number":13,"box":{"x":62,"y":614,"width":400,"height":11}},{"id":"59c0213a-88ec-4279-803d-64fc790965ff","block_type":"box","text":"Unitholders and that dealing resumes as soon as","page_number":13,"box":{"x":63,"y":628,"width":398,"height":11}},{"id":"bd6336df-75c5-4bb8-b8de-5556c30b1802","block_type":"box","text":"practicable after the circumstances triggering a","page_number":13,"box":{"x":62,"y":641,"width":400,"height":12}},{"id":"8770d218-bbf8-48cb-ae9c-c4c19f3f08b3","block_type":"box","text":"suspension have ceased. Upon suspension the ACS","page_number":13,"box":{"x":62,"y":655,"width":399,"height":11}},{"id":"f0fea4bc-f09b-4ddd-a768-bcbfbc141ae3","block_type":"box","text":"Manager or the Depositary will immediately inform the","page_number":13,"box":{"x":63,"y":669,"width":398,"height":11}},{"id":"3508e7b5-6afe-43f1-b13f-642e2176d7cf","block_type":"box","text":"FCA giving reasons for the suspension and notify any","page_number":13,"box":{"x":63,"y":682,"width":399,"height":11}},{"id":"f8687192-6dde-40f0-bda0-064e05e9f629","block_type":"box","text":"home state regulator in jurisdictions where Units in the","page_number":13,"box":{"x":62,"y":696,"width":399,"height":11}},{"id":"29860173-64c2-48d8-a244-e39ff0b922ab","block_type":"box","text":"relevant Sub-Fund are available for sale.","page_number":13,"box":{"x":63,"y":710,"width":299,"height":8}},{"id":"2234df38-4338-4656-8987-a7690617649e","block_type":"box","text":"The ACS Manager will notify Unitholders of the","page_number":13,"box":{"x":62,"y":729,"width":399,"height":11}},{"id":"b49dd561-52b0-40a1-8b9a-c903600507e7","block_type":"box","text":"suspension as soon as practicable after the","page_number":13,"box":{"x":62,"y":743,"width":399,"height":11}},{"id":"e1234f62-57bc-4306-85b8-c2cf5cbee2fd","block_type":"box","text":"suspension commences and will formally review the","page_number":13,"box":{"x":62,"y":757,"width":400,"height":11}},{"id":"249abe9e-5fe1-4395-930d-6a9d313696b4","block_type":"box","text":"suspension with the Depositary at least every 28 days,","page_number":13,"box":{"x":62,"y":770,"width":398,"height":11}},{"id":"af7f0f71-7f69-4b62-8eca-c738ce4ff600","block_type":"box","text":"keeping the FCA informed. The ACS Manager will","page_number":13,"box":{"x":62,"y":784,"width":399,"height":11}},{"id":"2e216591-2b6b-48fc-88a4-0b14e5e8b0a0","block_type":"box","text":"resume issue and redemption in Units after giving the","page_number":13,"box":{"x":63,"y":797,"width":398,"height":12}},{"id":"02b1bb0e-ab2c-4316-98c1-1f7b86748703","block_type":"box","text":"requisite notice in accordance with the COLL","page_number":13,"box":{"x":63,"y":811,"width":399,"height":11}},{"id":"5014157f-1e0e-4bea-8100-16c427c6d586","block_type":"box","text":"Sourcebook. The ACS Manager will publish sufficient","page_number":13,"box":{"x":62,"y":825,"width":400,"height":11}},{"id":"8b7e48b6-affa-4ab2-9fca-1cd667140df7","block_type":"box","text":"details on its website to keep Unitholders appropriately","page_number":13,"box":{"x":62,"y":839,"width":400,"height":11}},{"id":"2fc4e8e9-23c8-4248-af35-840b2f9e476b","block_type":"box","text":"informed about the suspension including, if known, its","page_number":13,"box":{"x":62,"y":852,"width":399,"height":11}},{"id":"1e2ab2c9-e829-4726-81f4-7110567ef57d","block_type":"box","text":"likely duration.","page_number":13,"box":{"x":62,"y":866,"width":105,"height":11}},{"id":"fbe51a29-158c-405e-ad59-2a4ad5c497df","block_type":"box","text":"In addition to the above, the ACS Manager may be","page_number":13,"box":{"x":63,"y":885,"width":398,"height":12}},{"id":"a3f6ec6d-92b9-4816-bf27-ccf200b1de14","block_type":"box","text":"required to suspend dealings in a Sub-Fund where","page_number":13,"box":{"x":63,"y":899,"width":398,"height":11}},{"id":"0864f730-bcd0-4dd0-858f-d20b253187db","block_type":"box","text":"dealings in any underlying funds in which that Sub","page_number":13,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"f373b89c-69e4-41cb-a118-01ceb8384dce","block_type":"box","text":"Fund invests have also been suspended.","page_number":13,"box":{"x":524,"y":60,"width":302,"height":10}},{"id":"fe1b8b80-bfa3-441a-bc5d-d2355281f38d","block_type":"box","text":"(i)","page_number":13,"box":{"x":536,"y":85,"width":12,"height":11}},{"id":"990a106a-a67c-4aa1-857d-4c4114af86cc","block_type":"box","text":"Conversion and switching rights","page_number":13,"box":{"x":571,"y":85,"width":259,"height":11}},{"id":"6a65550e-7bfe-4392-9df4-70246960a774","block_type":"box","text":"Where more than one class of Unit is in issue in a Sub","page_number":13,"box":{"x":523,"y":104,"width":399,"height":9}},{"id":"a334fb65-ccbf-4b7b-bb6e-0c63c4adb2ae","block_type":"box","text":"Fund, the ACS Manager may permit a Unitholder to:","page_number":13,"box":{"x":524,"y":118,"width":384,"height":11}},{"id":"59b8f30d-d446-4203-a18e-feb5ef31ee85","block_type":"box","text":"(i) convert all or some of the Units held from","page_number":13,"box":{"x":554,"y":138,"width":368,"height":11}},{"id":"5fc7bd3f-3db5-49c2-bb7e-c8b707029b75","block_type":"box","text":"one class in that Sub-Fund (the \"","page_number":13,"box":{"x":601,"y":151,"width":258,"height":12}},{"id":"15316054-1f10-43a3-8f66-48144e15746b","block_type":"box","text":"Original","page_number":13,"box":{"x":861,"y":152,"width":61,"height":11}},{"id":"8d61e80a-bcd9-4961-9862-de8a410c11d6","block_type":"box","text":"Units","page_number":13,"box":{"x":602,"y":165,"width":40,"height":9}},{"id":"a2dc5b83-db6a-4d38-a9aa-67de5f6f07c5","block_type":"box","text":"\") for Units of another class in the","page_number":13,"box":{"x":644,"y":165,"width":279,"height":11}},{"id":"25a8df9b-3e3f-4fee-b904-30a86d4c7d9e","block_type":"box","text":"same Sub-Fund (\"","page_number":13,"box":{"x":601,"y":179,"width":139,"height":11}},{"id":"742074d3-b1d2-4909-8732-30892b8355cd","block_type":"box","text":"New Units","page_number":13,"box":{"x":743,"y":179,"width":82,"height":9}},{"id":"95acef97-9d8f-4233-8f9f-a20a63f979d5","block_type":"box","text":"\"), subject to","page_number":13,"box":{"x":826,"y":179,"width":97,"height":11}},{"id":"035fd1a2-8079-442f-9593-fe18a816bc72","block_type":"box","text":"Minimum Investment and eligibility","page_number":13,"box":{"x":602,"y":193,"width":321,"height":11}},{"id":"c9474f3e-05ec-4894-85d3-f75659d0fd2e","block_type":"box","text":"requirements. When Units are converted,","page_number":13,"box":{"x":602,"y":206,"width":320,"height":11}},{"id":"e7fc0260-2b4d-4873-be56-9105706d003a","block_type":"box","text":"the number of New Units to be issued will","page_number":13,"box":{"x":601,"y":220,"width":321,"height":9}},{"id":"dd75a13e-863d-47a9-9019-5400a0293205","block_type":"box","text":"be determined by applying a 'conversion","page_number":13,"box":{"x":601,"y":233,"width":321,"height":12}},{"id":"81060759-8b44-4284-b91d-b7ceab00557f","block_type":"box","text":"factor' to the value of the Original Units held","page_number":13,"box":{"x":601,"y":247,"width":321,"height":11}},{"id":"3c26a8b0-5fd5-4278-a221-36477d29690e","block_type":"box","text":"to determine the number of New Units to be","page_number":13,"box":{"x":601,"y":261,"width":321,"height":9}},{"id":"61af675a-d3e3-4e37-bcbc-9c6af5da0be4","block_type":"box","text":"issued. The conversion factor applicable to","page_number":13,"box":{"x":602,"y":274,"width":321,"height":11}},{"id":"9334473d-760a-4ae5-9d9f-208988946c25","block_type":"box","text":"such Unit conversion is available on request","page_number":13,"box":{"x":601,"y":288,"width":322,"height":11}},{"id":"76f1fedf-7220-496f-ac33-d9d4670a2ec4","block_type":"box","text":"from the ACS Manager in writing; or","page_number":13,"box":{"x":601,"y":302,"width":266,"height":11}},{"id":"d3949ea3-5fc1-45cc-b31e-c12bdfb26d61","block_type":"box","text":"(ii) switch all or some of the Units held from one","page_number":13,"box":{"x":554,"y":321,"width":369,"height":11}},{"id":"2f407aa9-bb4c-40a5-a893-16984a0ba5ea","block_type":"box","text":"class in that Sub-Fund (the \"","page_number":13,"box":{"x":601,"y":335,"width":258,"height":11}},{"id":"9a5fab12-4179-4656-bd01-2e5f1b11d17b","block_type":"box","text":"Original","page_number":13,"box":{"x":861,"y":335,"width":61,"height":11}},{"id":"feebc579-1c54-4f4d-b2d4-e376f1869808","block_type":"box","text":"Units","page_number":13,"box":{"x":602,"y":349,"width":40,"height":8}},{"id":"6186d1a5-edf7-48dc-825c-eea02e72980e","block_type":"box","text":"\") into Units of another Sub-Fund","page_number":13,"box":{"x":644,"y":349,"width":278,"height":11}},{"id":"089d2f5d-d8b6-404a-92b6-eaff1a932101","block_type":"box","text":"within the Scheme (the \"","page_number":13,"box":{"x":601,"y":362,"width":219,"height":11}},{"id":"96785987-da3c-425c-9ab7-7321426358bd","block_type":"box","text":"New Units","page_number":13,"box":{"x":822,"y":362,"width":89,"height":9}},{"id":"96b29fb2-b684-4fff-bb97-caa1476593fe","block_type":"box","text":"\")","page_number":13,"box":{"x":913,"y":362,"width":9,"height":11}},{"id":"e041d9a3-f1b7-438f-a49d-547cf6f327ca","block_type":"box","text":"subject to Minimum Investment and","page_number":13,"box":{"x":601,"y":376,"width":321,"height":11}},{"id":"31abf431-7b63-4dab-b98d-cc80a8f92928","block_type":"box","text":"eligibility requirements. On a switch of Units,","page_number":13,"box":{"x":601,"y":389,"width":321,"height":12}},{"id":"3a91f42e-eb88-45c5-b326-1547995e946a","block_type":"box","text":"the number of New Units issued will be","page_number":13,"box":{"x":601,"y":403,"width":322,"height":9}},{"id":"10597c78-7ef4-48d1-869f-d9a9f452e380","block_type":"box","text":"determined by reference to the respective","page_number":13,"box":{"x":601,"y":417,"width":322,"height":11}},{"id":"e740a478-2626-40c7-9073-897b71e1bf3a","block_type":"box","text":"prices of New Units and Original Units at the","page_number":13,"box":{"x":601,"y":430,"width":322,"height":12}},{"id":"bff10039-a712-4a64-8087-c35a156fbbe9","block_type":"box","text":"Valuation Point applicable when the","page_number":13,"box":{"x":601,"y":444,"width":322,"height":11}},{"id":"f9e9d002-2958-46fa-af72-f98de250a3a5","block_type":"box","text":"Original Units are redeemed and the New","page_number":13,"box":{"x":601,"y":458,"width":322,"height":11}},{"id":"02fb6bdf-39e8-497d-bd07-314580b03bf8","block_type":"box","text":"Units are issued. Any such exchange is","page_number":13,"box":{"x":602,"y":472,"width":321,"height":11}},{"id":"61f193c5-72bc-42bc-9302-c305736feaf9","block_type":"box","text":"treated as a redemption and sale.","page_number":13,"box":{"x":601,"y":485,"width":248,"height":11}},{"id":"f1c708d5-2feb-4b2a-b610-06ab31fc6af1","block_type":"box","text":"Unitholders must provide written instructions to","page_number":13,"box":{"x":524,"y":505,"width":399,"height":11}},{"id":"91d16abd-9fc6-437f-8438-7f79f6e6d2e3","block_type":"box","text":"convert or switch holdings to the ACS Manager which,","page_number":13,"box":{"x":523,"y":518,"width":399,"height":12}},{"id":"120c6524-2cd2-4883-8c6a-736a36e8a21d","block_type":"box","text":"in the case of joint Unitholders, must be signed by all","page_number":13,"box":{"x":524,"y":532,"width":398,"height":11}},{"id":"022b5d9a-b0b3-4a30-90f5-e2ab1fb7c0a9","block_type":"box","text":"joint Unitholders before a conversion or switch is","page_number":13,"box":{"x":522,"y":546,"width":401,"height":11}},{"id":"0a08ccb1-eb12-4b0f-9190-c63240689d53","block_type":"box","text":"effected. Conversions and switches are subject to the","page_number":13,"box":{"x":523,"y":559,"width":400,"height":11}},{"id":"9f343609-988d-4fb2-9410-6e57055b8750","block_type":"box","text":"Minimum Investment and eligibility requirements. No","page_number":13,"box":{"x":524,"y":573,"width":399,"height":11}},{"id":"dabeb371-5aab-4508-a5f7-9ad159a0cbfa","block_type":"box","text":"conversion or switch will be made during any period","page_number":13,"box":{"x":523,"y":587,"width":399,"height":11}},{"id":"3fc38ecb-7041-4acb-bb09-0ebd5b8bc169","block_type":"box","text":"when the right of Unitholders to require a redemption","page_number":13,"box":{"x":523,"y":600,"width":399,"height":12}},{"id":"2c0afad1-b359-4e5a-a892-db45cd59350c","block_type":"box","text":"of Units is suspended.","page_number":13,"box":{"x":523,"y":614,"width":163,"height":11}},{"id":"cf00bda4-61c6-48db-b500-1d0cffbf10c5","block_type":"box","text":"A switch between the relevant Sub-Fund and another","page_number":13,"box":{"x":523,"y":634,"width":400,"height":8}},{"id":"59b7e21b-ec87-4755-847a-fef788ecd3e7","block_type":"box","text":"Sub-Fund of the Scheme will only be effected on a","page_number":13,"box":{"x":523,"y":647,"width":400,"height":11}},{"id":"417b534f-d3e8-447b-934a-cb5123460674","block_type":"box","text":"Business Day when both Sub-Funds have Valuation","page_number":13,"box":{"x":524,"y":661,"width":398,"height":11}},{"id":"d052c24e-1638-441a-aecb-cd43fd5d7c36","block_type":"box","text":"Points and such Business Day is a Dealing Day.","page_number":13,"box":{"x":524,"y":675,"width":356,"height":11}},{"id":"05baff2d-a5d7-463b-b5a4-92077d4473e0","block_type":"box","text":"Unitholders subject to UK tax should note that a switch","page_number":13,"box":{"x":524,"y":694,"width":398,"height":11}},{"id":"6ab97e9a-a289-43df-a7bd-6c77938f622e","block_type":"box","text":"of Units between Sub-Funds (but not between Unit","page_number":13,"box":{"x":523,"y":708,"width":400,"height":11}},{"id":"12397177-6ab3-438a-8253-01baacb2aeac","block_type":"box","text":"Classes in the same Sub-Fund) should be treated as","page_number":13,"box":{"x":523,"y":721,"width":400,"height":11}},{"id":"2fa09334-ceb7-40c3-be5b-d8bf0d875b6c","block_type":"box","text":"a disposal for the purposes of Capital Gains Tax.","page_number":13,"box":{"x":523,"y":735,"width":399,"height":11}},{"id":"51c5fba8-9f87-431e-a5a5-5b461724625c","block_type":"box","text":"Conversions between different Unit Classes in the","page_number":13,"box":{"x":523,"y":749,"width":400,"height":9}},{"id":"a10b5b1b-85fc-4fd2-bcc3-4de1406ae1a0","block_type":"box","text":"same Sub-Fund should not give rise to a disposal for","page_number":13,"box":{"x":523,"y":762,"width":400,"height":12}},{"id":"c0dbfd0d-5417-4af5-9a73-3d1f2bb4a6b9","block_type":"box","text":"UK Capital Gains Tax purposes. Conversions between","page_number":13,"box":{"x":524,"y":776,"width":398,"height":11}},{"id":"cb2dac36-2e20-42d2-8213-e7ecc2c7b886","block_type":"box","text":"different Unit Classes in the same Sub-Fund may,","page_number":13,"box":{"x":523,"y":790,"width":399,"height":11}},{"id":"89075b70-cc20-466f-bf2a-eb3a84fda8ef","block_type":"box","text":"however, be treated as a disposal for UK capital gains","page_number":13,"box":{"x":524,"y":803,"width":398,"height":12}},{"id":"dcd701fe-485a-4016-97a5-d46c9009d404","block_type":"box","text":"tax purposes if the Unit Classes have different hedging","page_number":13,"box":{"x":523,"y":817,"width":399,"height":11}},{"id":"8d61fd5f-bfba-46ca-b579-5cff75094834","block_type":"box","text":"arrangements. Unitholders should seek their own","page_number":13,"box":{"x":523,"y":831,"width":399,"height":11}},{"id":"be01b64f-8e5a-48bd-bbaf-f4d18067f60d","block_type":"box","text":"professional tax advice in this regard.","page_number":13,"box":{"x":524,"y":844,"width":274,"height":12}},{"id":"1ada8f14-85e3-43b5-afd2-b90be2e1e0b0","block_type":"box","text":"A Unitholder who switches Units in one Sub-Fund for","page_number":13,"box":{"x":523,"y":864,"width":400,"height":9}},{"id":"4733d6be-22b3-4dc4-a36c-02667ae00961","block_type":"box","text":"Units in any other Sub-Fund will not be given a right by","page_number":13,"box":{"x":524,"y":878,"width":399,"height":11}},{"id":"bb64c9db-5016-4bf2-8039-9c56210efda8","block_type":"box","text":"law to withdraw from or cancel the transaction.","page_number":13,"box":{"x":524,"y":891,"width":343,"height":9}},{"id":"dd184839-e22e-479b-aedd-46d3c08a25e7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 14","page_number":14,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"7c078632-c8bd-49e9-82de-f72ece5f3ba7","block_type":"box","text":"(j)","page_number":14,"box":{"x":74,"y":46,"width":13,"height":11}},{"id":"4ef28aa7-a308-46b7-a529-31fbe70415ec","block_type":"box","text":"Mandatory redemption or cancellation of","page_number":14,"box":{"x":122,"y":46,"width":340,"height":11}},{"id":"c8b84b39-9acd-4cdb-b297-28edd7f51bac","block_type":"box","text":"Units","page_number":14,"box":{"x":122,"y":59,"width":40,"height":9}},{"id":"faf75251-89ca-457f-aea6-ac6680f5bbe3","block_type":"box","text":"The ACS Manager may from time to time take such","page_number":14,"box":{"x":62,"y":79,"width":399,"height":11}},{"id":"f73be73e-f210-4238-9e19-f8aa38f8c8da","block_type":"box","text":"action and impose such restrictions as it thinks","page_number":14,"box":{"x":62,"y":93,"width":399,"height":11}},{"id":"420f1026-affc-432a-ad11-28562d0bc41c","block_type":"box","text":"necessary for the purpose of ensuring that no Units in","page_number":14,"box":{"x":62,"y":106,"width":399,"height":12}},{"id":"4e31939a-0048-4f51-997d-76d2ed4666ac","block_type":"box","text":"any Sub-Fund are acquired or held by any person in","page_number":14,"box":{"x":62,"y":120,"width":399,"height":11}},{"id":"9aac4209-ba07-4325-a874-052bed75f569","block_type":"box","text":"circumstances (\"","page_number":14,"box":{"x":62,"y":134,"width":132,"height":11}},{"id":"996e54a3-f59d-486e-9775-ec4d33286832","block_type":"box","text":"relevant circumstances","page_number":14,"box":{"x":197,"y":134,"width":195,"height":8}},{"id":"676310cc-5a12-49c7-816e-b9778d58d03f","block_type":"box","text":"\") which","page_number":14,"box":{"x":393,"y":134,"width":68,"height":11}},{"id":"518e2631-a30b-4e88-90d2-90a41134d92d","block_type":"box","text":"constitute a breach of the law or governmental","page_number":14,"box":{"x":62,"y":147,"width":399,"height":11}},{"id":"e22e4c96-f378-4539-ae79-52340110dd88","block_type":"box","text":"regulation (or any interpretation of a law or regulation","page_number":14,"box":{"x":63,"y":161,"width":398,"height":11}},{"id":"2bd9724e-666f-45e5-9bd9-878882539056","block_type":"box","text":"by a competent authority) of any country or territory; or","page_number":14,"box":{"x":62,"y":175,"width":400,"height":11}},{"id":"1d17d869-6428-4a4f-960c-588520f217e0","block_type":"box","text":"which would (or would if other Units were acquired or","page_number":14,"box":{"x":62,"y":188,"width":400,"height":11}},{"id":"0f083461-549a-4a18-92a0-2bccd4410f1e","block_type":"box","text":"held in like circumstances) result in any Sub-Fund","page_number":14,"box":{"x":62,"y":202,"width":399,"height":11}},{"id":"22a7dba1-f5bf-4685-ab5f-d92bffe2dd76","block_type":"box","text":"incurring any liability to taxation or suffering any other","page_number":14,"box":{"x":62,"y":216,"width":400,"height":11}},{"id":"7e7950ed-8eb9-47c6-94a3-cc801191c42e","block_type":"box","text":"adverse consequence (including a requirement to","page_number":14,"box":{"x":62,"y":229,"width":399,"height":11}},{"id":"ac28c2ed-0f7f-4e06-83e3-78ed506e2a83","block_type":"box","text":"register under any securities or investment or similar","page_number":14,"box":{"x":63,"y":243,"width":399,"height":11}},{"id":"7372da6a-4d5a-43f5-a049-304c00bfb43f","block_type":"box","text":"laws or governmental regulation of any country or","page_number":14,"box":{"x":62,"y":257,"width":400,"height":11}},{"id":"8fc16a51-ddc4-4e4b-a76d-c9438c0e4006","block_type":"box","text":"territory); and, in this connection, the ACS Manager","page_number":14,"box":{"x":62,"y":270,"width":400,"height":11}},{"id":"98697979-495f-43b7-97fc-9dcc486049b7","block_type":"box","text":"may reject at its discretion any subscription,","page_number":14,"box":{"x":62,"y":284,"width":399,"height":11}},{"id":"a3f6b799-ed44-4fc0-acd6-05e654b410ff","block_type":"box","text":"redemption, switch or conversion of Units.","page_number":14,"box":{"x":63,"y":298,"width":309,"height":11}},{"id":"2a840abb-38f6-490c-ab5f-3021e991ee0f","block_type":"box","text":"In particular, all Unitholders must meet the eligibility","page_number":14,"box":{"x":63,"y":317,"width":399,"height":11}},{"id":"541bd861-ba18-40b0-9903-60f3aea00d11","block_type":"box","text":"criteria set out in section 2.","page_number":14,"box":{"x":62,"y":331,"width":198,"height":9}},{"id":"b9351c13-dbe6-4dfc-ade5-e213f7cc06ea","block_type":"box","text":"All US residents and citizens should note the","page_number":14,"box":{"x":62,"y":350,"width":400,"height":9}},{"id":"9b341a3e-7114-464e-b6a6-1425773378dd","block_type":"box","text":"requirements of the Foreign Account Tax Compliance","page_number":14,"box":{"x":63,"y":364,"width":398,"height":11}},{"id":"0f265767-db83-48cc-ac15-5989b3cdde7c","block_type":"box","text":"Act ('FATCA'), please see section 27(f).","page_number":14,"box":{"x":62,"y":378,"width":292,"height":11}},{"id":"8f4cf7ed-86a6-42a4-80b3-d03f96c51fa2","block_type":"box","text":"If it comes to the notice of the ACS Manager that any","page_number":14,"box":{"x":63,"y":397,"width":399,"height":11}},{"id":"562b57c6-f3d2-4d4d-aded-d4bedc05527a","block_type":"box","text":"Units (\"","page_number":14,"box":{"x":63,"y":411,"width":55,"height":11}},{"id":"5c28f86b-5e4f-4b5e-bb5a-c604012761de","block_type":"box","text":"affected Units","page_number":14,"box":{"x":120,"y":411,"width":113,"height":9}},{"id":"f0d5baa8-f54d-4388-9a33-09db6ebe9b30","block_type":"box","text":"\") have been acquired or are","page_number":14,"box":{"x":235,"y":411,"width":226,"height":11}},{"id":"ccf66d0c-1229-46df-8fd1-4028fd2d9884","block_type":"box","text":"being held in each case whether beneficially or","page_number":14,"box":{"x":62,"y":425,"width":400,"height":11}},{"id":"52559eaf-3278-4ed6-bb86-a0d75d5cc81f","block_type":"box","text":"otherwise in any of the relevant circumstances referred","page_number":14,"box":{"x":62,"y":438,"width":399,"height":11}},{"id":"2da49cc2-c639-4326-9c07-ea92471bf48d","block_type":"box","text":"to above or if it reasonably believes this to be the case","page_number":14,"box":{"x":62,"y":452,"width":399,"height":11}},{"id":"01dafbe9-2b2d-47ea-93d4-201d0c1350a8","block_type":"box","text":"the ACS Manager may give notice to the relevant","page_number":14,"box":{"x":62,"y":466,"width":400,"height":11}},{"id":"cff46159-d685-435b-ab34-10ac86f42c88","block_type":"box","text":"Unitholder to convert or switch their holding to another","page_number":14,"box":{"x":63,"y":479,"width":399,"height":11}},{"id":"20ed609b-2762-42c7-a845-7536891c99d1","block_type":"box","text":"Unit Class or Sub-Fund if a suitable Unit Class or Sub","page_number":14,"box":{"x":63,"y":493,"width":398,"height":9}},{"id":"02d67eac-554a-42cf-b413-7894af13958a","block_type":"box","text":"Fund is available (and, in the case of a switch, subject","page_number":14,"box":{"x":63,"y":506,"width":399,"height":12}},{"id":"1f624935-51ef-41ec-9fcf-9daec927d0f1","block_type":"box","text":"to the basis on which switching rights are offered) or","page_number":14,"box":{"x":62,"y":520,"width":400,"height":11}},{"id":"bf0fd1c9-5480-4661-9d11-07f8ea331bb0","block_type":"box","text":"give notice to the relevant holder of the affected Units","page_number":14,"box":{"x":62,"y":534,"width":399,"height":11}},{"id":"4f35ddff-fd7b-4896-b963-45ababd8f881","block_type":"box","text":"requiring the Unitholder to provide a request in writing","page_number":14,"box":{"x":63,"y":548,"width":398,"height":11}},{"id":"d9ec4aaf-4fc6-4348-b744-6561b18e739a","block_type":"box","text":"for the redemption or cancellation of such Units. If any","page_number":14,"box":{"x":62,"y":561,"width":400,"height":11}},{"id":"eb6459ff-b6b6-4b89-b167-c31b15dd318f","block_type":"box","text":"person upon whom such a notice is served does not","page_number":14,"box":{"x":62,"y":575,"width":400,"height":11}},{"id":"67a84cf6-446d-43e2-97e0-8de152e39d12","block_type":"box","text":"within thirty days after the date of such notice request","page_number":14,"box":{"x":62,"y":588,"width":400,"height":12}},{"id":"cc17ec6a-11c0-4358-9cfd-c0a933bf32d4","block_type":"box","text":"the conversion or switch of their holding of affected","page_number":14,"box":{"x":62,"y":602,"width":399,"height":11}},{"id":"8ffb5fb8-c550-4aed-92f9-9ed471ff600c","block_type":"box","text":"Units to another Unit Class or Sub-Fund if a suitable","page_number":14,"box":{"x":63,"y":616,"width":398,"height":9}},{"id":"2dfbed4b-31aa-4e00-b400-199818e79eb1","block_type":"box","text":"Unit Class or Sub-Fund is available (and, in the case","page_number":14,"box":{"x":63,"y":629,"width":398,"height":11}},{"id":"03d64fbb-8ee6-4427-bf7a-ce3e3cd6c290","block_type":"box","text":"of a switch, subject to the basis on which switching","page_number":14,"box":{"x":62,"y":643,"width":399,"height":11}},{"id":"01de8282-c2b9-4a2d-9784-b623b2c1f42d","block_type":"box","text":"rights are offered), or submit such request for","page_number":14,"box":{"x":63,"y":657,"width":399,"height":11}},{"id":"65480f23-1e6b-4848-b4bb-5893ada6798d","block_type":"box","text":"redemption or cancellation of the affected Units, or","page_number":14,"box":{"x":63,"y":670,"width":399,"height":11}},{"id":"e34d6e8a-ec9c-41e9-b0fe-8e76a044d16d","block_type":"box","text":"establish to the satisfaction of the ACS Manager","page_number":14,"box":{"x":62,"y":684,"width":400,"height":11}},{"id":"d7517d78-9cba-4ab7-80ec-8331bc3b6556","block_type":"box","text":"(whose judgement shall be final and binding) that he","page_number":14,"box":{"x":63,"y":698,"width":398,"height":11}},{"id":"562caf43-7c7a-4fc1-8c16-75a03a9d9ccf","block_type":"box","text":"and any person on whose behalf he holds the affected","page_number":14,"box":{"x":62,"y":711,"width":399,"height":11}},{"id":"661b8cbc-89b2-421a-b0ab-6618fdb2b215","block_type":"box","text":"Units are qualified and entitled to hold the Units, he","page_number":14,"box":{"x":63,"y":725,"width":398,"height":11}},{"id":"fd9beee7-2341-498f-b320-55c5ea0f903e","block_type":"box","text":"shall be deemed upon the expiration of that thirty day","page_number":14,"box":{"x":62,"y":739,"width":400,"height":11}},{"id":"8fd92fea-b6d2-43c7-a5fa-8e33e7db2c9d","block_type":"box","text":"period to have given a request in writing for the","page_number":14,"box":{"x":62,"y":752,"width":399,"height":12}},{"id":"e953ac55-c317-46a6-b0bd-d2473515b407","block_type":"box","text":"redemption or cancellation (at the discretion of the","page_number":14,"box":{"x":63,"y":766,"width":398,"height":11}},{"id":"cbbf5023-1c56-4af9-a08b-ff9d8f6e033e","block_type":"box","text":"ACS Manager) of the affected Units.","page_number":14,"box":{"x":62,"y":780,"width":268,"height":11}},{"id":"7433c5da-771a-4fe7-9171-903dd1b82ee0","block_type":"box","text":"(k)","page_number":14,"box":{"x":74,"y":805,"width":18,"height":11}},{"id":"a5a00597-5b0d-46a4-940c-614e03b1d668","block_type":"box","text":"Transfers of Units","page_number":14,"box":{"x":121,"y":805,"width":143,"height":9}},{"id":"8c9a3f56-e012-4e71-a0e0-aeafbd51ef42","block_type":"box","text":"A transfer of Units is not permitted.","page_number":14,"box":{"x":66,"y":825,"width":257,"height":11}},{"id":"048ec6a1-26f6-4281-80a5-f3ae03897d62","block_type":"box","text":"14. Excessive Trading Policy","page_number":14,"box":{"x":74,"y":850,"width":248,"height":12}},{"id":"b76cf972-16e0-4246-a601-06c3a6135b6c","block_type":"box","text":"The Sub-Funds do not knowingly allow investments","page_number":14,"box":{"x":62,"y":870,"width":399,"height":11}},{"id":"1b6fc597-772d-4da6-9a2e-f18d06408237","block_type":"box","text":"that are associated with excessive trading practices as","page_number":14,"box":{"x":62,"y":884,"width":399,"height":11}},{"id":"f7220a13-16ac-43cf-a549-dd88145219d1","block_type":"box","text":"such practices may adversely affect the interests of all","page_number":14,"box":{"x":62,"y":897,"width":399,"height":11}},{"id":"4fb1e583-0f68-4ead-887d-9fdd6c42c100","block_type":"box","text":"Unitholders. Excessive trading includes individuals or","page_number":14,"box":{"x":63,"y":911,"width":399,"height":11}},{"id":"2fbaf4c0-cb6d-493d-b293-43be1778af9d","block_type":"box","text":"groups of individuals whose securities transactions","page_number":14,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"8f82602a-4900-4c1b-b798-25766fe82925","block_type":"box","text":"seem to follow a timing pattern or are characterised by","page_number":14,"box":{"x":523,"y":59,"width":400,"height":12}},{"id":"7b5cbec4-a9d2-41b7-9aa0-3d4d09c98b03","block_type":"box","text":"excessively frequent or large trades.","page_number":14,"box":{"x":523,"y":73,"width":268,"height":11}},{"id":"e950b9bf-4d68-4eda-ab43-c4713508b30f","block_type":"box","text":"Unitholders should, however, be aware that the Sub","page_number":14,"box":{"x":524,"y":93,"width":398,"height":10}},{"id":"db8bcc91-1f7c-49c9-83e9-165975cc73ad","block_type":"box","text":"Funds may be utilised by certain Unitholders for asset","page_number":14,"box":{"x":524,"y":106,"width":399,"height":11}},{"id":"5a287ed7-3add-4beb-a9b3-d45611c2f0ed","block_type":"box","text":"allocation purposes or by structured product providers,","page_number":14,"box":{"x":523,"y":120,"width":399,"height":11}},{"id":"ee40cc5c-de97-4be4-91e1-cd03a81b1390","block_type":"box","text":"which may require the periodic re-allocation of assets","page_number":14,"box":{"x":523,"y":134,"width":400,"height":11}},{"id":"18348956-ac07-4360-90f3-3dffeba61382","block_type":"box","text":"between Sub-Funds. This activity will not normally be","page_number":14,"box":{"x":524,"y":147,"width":399,"height":11}},{"id":"77d1aeb9-52e1-4778-8591-b813c400a62c","block_type":"box","text":"classed as excessive trading unless the activity","page_number":14,"box":{"x":523,"y":161,"width":400,"height":11}},{"id":"3db0a1e3-23a4-4635-8f78-27504cc9a4c6","block_type":"box","text":"becomes, in the opinion of the ACS Manager, too","page_number":14,"box":{"x":524,"y":174,"width":399,"height":12}},{"id":"700ada77-4b09-4ddf-bc3b-77ff80b175c0","block_type":"box","text":"frequent or appears to follow a timing pattern.","page_number":14,"box":{"x":523,"y":188,"width":336,"height":11}},{"id":"a8439e13-1258-4855-b4ca-d119fad3cf71","block_type":"box","text":"As well as the general power of the ACS Manager to","page_number":14,"box":{"x":523,"y":208,"width":400,"height":11}},{"id":"17456e3e-e25a-4661-8f22-d9c01a8d8999","block_type":"box","text":"refuse subscriptions, switches or conversions at their","page_number":14,"box":{"x":524,"y":221,"width":399,"height":12}},{"id":"19374242-0da5-45e7-94a4-96a625312ee1","block_type":"box","text":"discretion, powers exist in other sections of this","page_number":14,"box":{"x":523,"y":235,"width":400,"height":11}},{"id":"08388092-8dd7-4329-946f-a3e93a4566a9","block_type":"box","text":"Prospectus to ensure that Unitholder interests are","page_number":14,"box":{"x":524,"y":249,"width":399,"height":11}},{"id":"9fed45c0-5374-480d-a556-8c19ac0e359c","block_type":"box","text":"protected against excessive trading. These include in","page_number":14,"box":{"x":524,"y":263,"width":398,"height":11}},{"id":"9c3c47ca-f236-4ed5-81fe-87f93093a2b1","block_type":"box","text":"specie redemptions (see section 13(g)) and","page_number":14,"box":{"x":523,"y":276,"width":399,"height":11}},{"id":"014906b1-e302-4c1d-a315-9864ecb03b0e","block_type":"box","text":"conversion and switching rights (see section 13(i)).","page_number":14,"box":{"x":523,"y":290,"width":375,"height":11}},{"id":"3f8a54fe-9666-4d3d-bd7a-f8917dcdad01","block_type":"box","text":"In addition, where excessive trading is suspected, the","page_number":14,"box":{"x":524,"y":310,"width":399,"height":11}},{"id":"65d50281-1bd5-422b-898b-e2e9f31d5efa","block_type":"box","text":"Sub-Funds may:","page_number":14,"box":{"x":523,"y":323,"width":121,"height":11}},{"id":"e661bfbf-8162-483f-8cad-43fa61b525e2","block_type":"box","text":"combine Units that are under common ownership or","page_number":14,"box":{"x":523,"y":343,"width":400,"height":11}},{"id":"5eeeaa12-c108-47ae-a967-10caaec33807","block_type":"box","text":"control for the purposes of ascertaining whether an","page_number":14,"box":{"x":523,"y":356,"width":399,"height":12}},{"id":"57c18b33-5d37-4be4-a71a-9b937ef7bd21","block_type":"box","text":"individual or a group of individuals can be deemed to","page_number":14,"box":{"x":524,"y":370,"width":399,"height":11}},{"id":"0bc0bf91-2f4e-4a35-8761-768960ea536f","block_type":"box","text":"be involved in excessive trading practices.","page_number":14,"box":{"x":524,"y":384,"width":398,"height":11}},{"id":"b42644b4-23f5-46ae-8ece-b7e4b250f390","block_type":"box","text":"Accordingly, the ACS Manager reserves the right to","page_number":14,"box":{"x":523,"y":397,"width":400,"height":11}},{"id":"0b9d0010-37e8-4d42-868c-68efacb601a9","block_type":"box","text":"reject any application for switches, conversions, and","page_number":14,"box":{"x":524,"y":411,"width":398,"height":11}},{"id":"0fd90af1-b50c-4226-b27c-414fa201dca3","block_type":"box","text":"subscription of Units from Unitholders whom they","page_number":14,"box":{"x":523,"y":425,"width":400,"height":11}},{"id":"dd987381-b1ed-4594-bb90-d2e0d8a143de","block_type":"box","text":"consider to be excessive traders; and","page_number":14,"box":{"x":523,"y":438,"width":277,"height":11}},{"id":"2f265132-a2dd-4d62-90ad-6759fdae3a27","block_type":"box","text":"(i) levy a redemption charge on the redemption","page_number":14,"box":{"x":554,"y":458,"width":368,"height":11}},{"id":"76ebd0f1-0642-4a17-93ed-f09638daa38f","block_type":"box","text":"proceeds to Unitholders whom the ACS","page_number":14,"box":{"x":601,"y":471,"width":322,"height":12}},{"id":"2987375e-ab3a-4e89-ae0b-ea6e537de855","block_type":"box","text":"Manager, in its reasonable opinion,","page_number":14,"box":{"x":602,"y":485,"width":320,"height":11}},{"id":"779a1640-0f16-4c76-9d20-3d8eb31e0cfa","block_type":"box","text":"suspects of excessive trading. This charge","page_number":14,"box":{"x":601,"y":499,"width":322,"height":11}},{"id":"dbd0133e-587d-457f-9ece-a980fd0fd884","block_type":"box","text":"will be made for the benefit of the relevant","page_number":14,"box":{"x":601,"y":513,"width":322,"height":8}},{"id":"dbc7d4bf-1fed-4da4-83d1-0c5300cda588","block_type":"box","text":"Sub-Fund, and affected Unitholders will be","page_number":14,"box":{"x":601,"y":526,"width":322,"height":10}},{"id":"251cdcfa-70e4-4297-84ec-3c2f964aaeab","block_type":"box","text":"notified in their contract notes if such a fee","page_number":14,"box":{"x":602,"y":540,"width":321,"height":9}},{"id":"9c27ad49-1d7f-4230-928f-3cb71857b80c","block_type":"box","text":"has been charged. The charge will be","page_number":14,"box":{"x":602,"y":554,"width":321,"height":11}},{"id":"df0b99bb-e7a2-4490-8e81-7a9ee4c91509","block_type":"box","text":"calculated by using the trading costs","page_number":14,"box":{"x":601,"y":567,"width":322,"height":11}},{"id":"e6c99664-7bfc-47b2-b268-acc7e2db767e","block_type":"box","text":"including the asset spread cost.","page_number":14,"box":{"x":602,"y":581,"width":232,"height":11}},{"id":"324f73af-4417-4c0d-a93e-a74d7ef700fa","block_type":"box","text":"15. Compliance with applicable laws and","page_number":14,"box":{"x":536,"y":606,"width":386,"height":11}},{"id":"8050805f-5dba-4761-bae8-184acf157be6","block_type":"box","text":"regulations","page_number":14,"box":{"x":583,"y":620,"width":89,"height":11}},{"id":"ec7c5d94-ae4a-48a5-99bc-08f4c41d734b","block_type":"box","text":"As a result of any applicable laws and regulations,","page_number":14,"box":{"x":523,"y":639,"width":399,"height":12}},{"id":"b6c10121-4d1c-4e10-978e-5e5d7c1369ee","block_type":"box","text":"including but not limited to, relevant anti-money","page_number":14,"box":{"x":524,"y":653,"width":399,"height":11}},{"id":"49d06503-6a24-4a41-8344-ce5d57598743","block_type":"box","text":"laundering legislation, tax laws and regulatory","page_number":14,"box":{"x":524,"y":667,"width":399,"height":11}},{"id":"afee1466-17fe-45ac-ba39-7fa740bbff92","block_type":"box","text":"requirements, Unitholders may be required, in certain","page_number":14,"box":{"x":524,"y":681,"width":398,"height":11}},{"id":"115e2239-05d9-4da3-b278-cb9c8e07e6ed","block_type":"box","text":"circumstances, to provide additional documentation to","page_number":14,"box":{"x":523,"y":694,"width":400,"height":11}},{"id":"7b97158c-9381-4078-9943-aa79958272cf","block_type":"box","text":"confirm their identity, or provide other relevant","page_number":14,"box":{"x":523,"y":708,"width":400,"height":11}},{"id":"73f93b49-af25-4aad-aa93-e9a91d45492f","block_type":"box","text":"information pursuant to such laws and regulations, as","page_number":14,"box":{"x":524,"y":721,"width":399,"height":12}},{"id":"663b1ec1-dcb0-4574-93d1-43aca4d6e9e0","block_type":"box","text":"may be required from time to time, even if an existing","page_number":14,"box":{"x":524,"y":735,"width":398,"height":11}},{"id":"8411867f-2665-4215-b488-2ad64cb6a84c","block_type":"box","text":"Unitholder. Any information provided by Unitholders","page_number":14,"box":{"x":524,"y":749,"width":399,"height":11}},{"id":"ef9c896a-6f19-49b9-a9f9-6ed772d563f0","block_type":"box","text":"will be used only for the purposes of compliance with","page_number":14,"box":{"x":523,"y":762,"width":399,"height":12}},{"id":"7f148af5-8849-42fa-be22-5f0cb485bc86","block_type":"box","text":"these requirements and all documentation will be duly","page_number":14,"box":{"x":523,"y":776,"width":400,"height":11}},{"id":"d5d75322-69b0-4bae-b287-917bcd5df581","block_type":"box","text":"returned to the relevant Unitholder. Until the ACS","page_number":14,"box":{"x":524,"y":790,"width":399,"height":9}},{"id":"ed169240-1037-4e73-b6e6-9e7f1b5c29b2","block_type":"box","text":"Manager receives the requested documentation or","page_number":14,"box":{"x":524,"y":804,"width":399,"height":11}},{"id":"a274fe9f-3fef-4b13-b3c6-ca241e55c3d6","block_type":"box","text":"additional information, there may be a delay in","page_number":14,"box":{"x":523,"y":817,"width":399,"height":11}},{"id":"e3075560-26d7-4795-b9a5-746b9c1fb273","block_type":"box","text":"processing any subsequent redemption request and","page_number":14,"box":{"x":524,"y":831,"width":398,"height":11}},{"id":"c8b9ae03-5c35-43a1-bce0-346033c9ff85","block_type":"box","text":"the ACS Manager reserves the right in all cases to","page_number":14,"box":{"x":523,"y":844,"width":400,"height":12}},{"id":"d45a4650-0609-4f20-bb88-284141fe7d13","block_type":"box","text":"withhold redemption proceeds until such a time as the","page_number":14,"box":{"x":523,"y":858,"width":400,"height":11}},{"id":"8a8b9d2f-8f65-4343-bcea-9d01db92dd18","block_type":"box","text":"required documentation or additional information is","page_number":14,"box":{"x":524,"y":872,"width":399,"height":11}},{"id":"1695e800-04af-43d5-a113-44748972389f","block_type":"box","text":"received.","page_number":14,"box":{"x":524,"y":885,"width":65,"height":9}},{"id":"322d2d47-8bfd-40f4-9bbf-a08bf80a1fd2","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 15","page_number":15,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"0a96d739-4489-4eb4-89d0-04569a52ee66","block_type":"box","text":"Alternatively, the ACS Manager may employ a search","page_number":15,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"e0510784-e0c7-4415-aeee-5c6262be7541","block_type":"box","text":"of electronic data reference sources in order to access","page_number":15,"box":{"x":62,"y":59,"width":399,"height":9}},{"id":"744833c2-32d3-4ca7-82ca-23f0878193ef","block_type":"box","text":"information held electronically concerning the identity","page_number":15,"box":{"x":62,"y":73,"width":400,"height":11}},{"id":"2e1afd04-1319-4480-87e4-be142fe52baa","block_type":"box","text":"of a Unitholder, including information held by certain","page_number":15,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"59b8cac8-43bc-410c-ac9c-a67e1f7f58d0","block_type":"box","text":"government and consumer agencies. By completing","page_number":15,"box":{"x":62,"y":100,"width":399,"height":12}},{"id":"dcb0d157-e800-4ef6-b093-e728702aec4e","block_type":"box","text":"the Form, Power of Attorney or Investor Agreement or","page_number":15,"box":{"x":62,"y":114,"width":400,"height":11}},{"id":"4c7bb1e3-f3b1-41e3-b21e-3c6326145964","block_type":"box","text":"entering into a contract with the ACS Manager or one","page_number":15,"box":{"x":62,"y":128,"width":399,"height":11}},{"id":"599879f5-8594-4727-bf2d-87bfe4670cee","block_type":"box","text":"of its affiliates, Unitholders acknowledge that the ACS","page_number":15,"box":{"x":62,"y":141,"width":399,"height":12}},{"id":"0b78b9fd-3f72-4d51-9755-d6bad96200bb","block_type":"box","text":"Manager may at any time initiate a search of","page_number":15,"box":{"x":63,"y":155,"width":399,"height":11}},{"id":"dc071cd4-c9c9-49e4-96fe-9e7f13aeeb4b","block_type":"box","text":"information held electronically in order to verify","page_number":15,"box":{"x":62,"y":169,"width":400,"height":11}},{"id":"1167c724-de13-43f2-b9ab-2b4fa0db5c3e","block_type":"box","text":"identity.","page_number":15,"box":{"x":62,"y":182,"width":56,"height":11}},{"id":"268b8e60-9377-4425-a6cd-510eb920d3c7","block_type":"box","text":"16. Valuation","page_number":15,"box":{"x":74,"y":208,"width":121,"height":9}},{"id":"a2c63f6d-63c4-4514-8915-dd71a1eeb896","block_type":"box","text":"The ACS Manager calculates the value of the Units in","page_number":15,"box":{"x":62,"y":227,"width":399,"height":12}},{"id":"a5d31330-cc1f-4965-a283-7b71ec167c2a","block_type":"box","text":"accordance with Appendix 4, as permitted by the","page_number":15,"box":{"x":62,"y":241,"width":399,"height":11}},{"id":"b6069a93-f26a-4c4d-ba61-98712ac4c52f","block_type":"box","text":"COLL Sourcebook. The basis of the calculation is the","page_number":15,"box":{"x":62,"y":255,"width":399,"height":9}},{"id":"615473dd-50de-4591-8e88-85c3fcba2d1c","block_type":"box","text":"value of the underlying assets of the Scheme. Assets","page_number":15,"box":{"x":62,"y":268,"width":399,"height":12}},{"id":"18d8ad5a-7203-4002-888b-531846b0fd5a","block_type":"box","text":"are valued on a single mid-market basis in accordance","page_number":15,"box":{"x":62,"y":282,"width":399,"height":11}},{"id":"fcae4231-e073-4995-9ce6-94b02c580c65","block_type":"box","text":"with the COLL Sourcebook.","page_number":15,"box":{"x":62,"y":296,"width":203,"height":9}},{"id":"556eaa0e-6298-4e33-b014-451de2ef6656","block_type":"box","text":"The valuation is performed at the Valuation Point and","page_number":15,"box":{"x":62,"y":315,"width":399,"height":11}},{"id":"1286fff7-9e57-4a42-9ccd-c8fbd59b8613","block_type":"box","text":"the function is performed by the ACS Manager in","page_number":15,"box":{"x":62,"y":329,"width":399,"height":11}},{"id":"82ff7094-e1af-47d7-b8dd-389f1aed0f57","block_type":"box","text":"accordance with the COLL Sourcebook and the FUND","page_number":15,"box":{"x":62,"y":343,"width":399,"height":8}},{"id":"6bd3f135-9a2b-4b72-83a4-b4582460af9c","block_type":"box","text":"Sourcebook. The Valuation Point of each Sub-Fund is","page_number":15,"box":{"x":62,"y":356,"width":399,"height":9}},{"id":"3704970a-4569-4f7c-8666-d20f4dc151a2","block_type":"box","text":"set out in Appendix 1. Details and description of the","page_number":15,"box":{"x":62,"y":370,"width":399,"height":11}},{"id":"b1d2af07-71e3-411b-a41c-032301dd0c07","block_type":"box","text":"applicable valuation procedures are contained in","page_number":15,"box":{"x":62,"y":384,"width":399,"height":11}},{"id":"fa64c9b5-8dbb-4220-818b-b3e3668ed523","block_type":"box","text":"Appendix 7.","page_number":15,"box":{"x":62,"y":397,"width":86,"height":11}},{"id":"47739c6e-bf26-4978-9de4-66868e4b032b","block_type":"box","text":"The ACS Manager may at its discretion implement fair","page_number":15,"box":{"x":62,"y":417,"width":400,"height":11}},{"id":"d24cdfbc-f776-47d1-817f-8ce787a99bb9","block_type":"box","text":"value pricing policies in respect of any of the Sub","page_number":15,"box":{"x":62,"y":430,"width":399,"height":12}},{"id":"af93b73f-4583-4a8c-8803-73a9572443c2","block_type":"box","text":"Funds. Fair value pricing will only apply where the ACS","page_number":15,"box":{"x":63,"y":444,"width":398,"height":11}},{"id":"c6cc2aa9-d167-4ae7-a8d4-a97a880f893c","block_type":"box","text":"Manager deems it to be appropriate and in the","page_number":15,"box":{"x":63,"y":458,"width":398,"height":11}},{"id":"b3fcd7ac-da89-47ec-b889-31b9fd2dea74","block_type":"box","text":"interests of Unitholders and has reasonable grounds","page_number":15,"box":{"x":62,"y":471,"width":399,"height":12}},{"id":"d2f2e11c-892c-428f-853f-b786b84102fd","block_type":"box","text":"to believe that no reliable price exists for one or more","page_number":15,"box":{"x":62,"y":485,"width":399,"height":11}},{"id":"fc66a070-c795-457b-99b4-c339fad136d2","block_type":"box","text":"underlying securities at a Valuation Point or the most","page_number":15,"box":{"x":63,"y":499,"width":399,"height":11}},{"id":"1c4d2f3a-678d-4cd9-924c-5918a09c51e8","block_type":"box","text":"recent price available does not reflect the ACS","page_number":15,"box":{"x":63,"y":512,"width":398,"height":12}},{"id":"46861a76-2ca8-43b1-aa0d-0057796d5b89","block_type":"box","text":"Manager's best estimate of the value of a security at","page_number":15,"box":{"x":63,"y":526,"width":399,"height":11}},{"id":"ebc5731d-afe5-4891-9d9b-b2afcf8b4881","block_type":"box","text":"the Valuation Point. In these circumstances the ACS","page_number":15,"box":{"x":62,"y":540,"width":399,"height":9}},{"id":"763bf441-42a6-47d0-bc82-40d133c7b562","block_type":"box","text":"Manager may at its discretion value an investment at","page_number":15,"box":{"x":63,"y":554,"width":399,"height":11}},{"id":"257c3a4c-0733-42e0-838c-6ada6881583b","block_type":"box","text":"a price which, in its opinion, reflects a fair and","page_number":15,"box":{"x":62,"y":567,"width":399,"height":11}},{"id":"7f8e489a-8229-43f4-805d-f42cc575794d","block_type":"box","text":"reasonable price for that investment. Circumstances","page_number":15,"box":{"x":63,"y":581,"width":398,"height":11}},{"id":"f07d9556-9821-405e-b2ee-6cfd2ad57f1c","block_type":"box","text":"which may give rise to a fair value price being used","page_number":15,"box":{"x":62,"y":594,"width":399,"height":12}},{"id":"31c75e7a-8d12-4848-819e-674d53af45e6","block_type":"box","text":"include instances where there is no recent trade in the","page_number":15,"box":{"x":62,"y":608,"width":399,"height":9}},{"id":"5e115508-af33-434a-982f-0920870eb94a","block_type":"box","text":"investment concerned; or the occurrence of a","page_number":15,"box":{"x":62,"y":622,"width":400,"height":10}},{"id":"bc073b07-3d67-49c4-8bbf-ea1165e70394","block_type":"box","text":"significant event since the most recent price has been","page_number":15,"box":{"x":62,"y":635,"width":399,"height":12}},{"id":"9dee6f52-c041-4b5e-b265-da2941a49794","block_type":"box","text":"determined. A significant event is one that means, in","page_number":15,"box":{"x":62,"y":649,"width":399,"height":11}},{"id":"b754f814-81a0-4421-9fdb-4f66d39fdccb","block_type":"box","text":"the ACS Manager's judgement, it no longer has","page_number":15,"box":{"x":62,"y":663,"width":399,"height":11}},{"id":"b72c25bf-6bd5-4983-b1f6-e6338127a1c4","block_type":"box","text":"confidence in the most recent price of an investment,","page_number":15,"box":{"x":62,"y":676,"width":398,"height":11}},{"id":"2239aa77-3220-409d-8e8f-2e6f11dbc22a","block_type":"box","text":"including in the case of a security or a basket of","page_number":15,"box":{"x":62,"y":690,"width":400,"height":11}},{"id":"06dbbbd0-cb02-40de-865f-827c74651a6c","block_type":"box","text":"securities, that price is materially different to the price","page_number":15,"box":{"x":62,"y":704,"width":399,"height":11}},{"id":"a073624c-17d7-45b6-a4db-00d6389b5537","block_type":"box","text":"that it is reasonably believed would exist at the","page_number":15,"box":{"x":62,"y":717,"width":399,"height":11}},{"id":"b8d6cc41-82e0-4159-be40-6c0752f4e0a5","block_type":"box","text":"Valuation Point had the relevant market been open.","page_number":15,"box":{"x":62,"y":731,"width":399,"height":11}},{"id":"0eb92d1f-f459-4303-b340-2a2b58e9a310","block_type":"box","text":"For this purpose, the ACS Manager may utilise pre","page_number":15,"box":{"x":63,"y":745,"width":398,"height":11}},{"id":"166447e4-1343-4592-beb6-3c1c8994dc0b","block_type":"box","text":"determined trigger levels which take into account the","page_number":15,"box":{"x":62,"y":758,"width":399,"height":12}},{"id":"3e7bd1c4-0337-4b3d-8221-e9f77e5bf791","block_type":"box","text":"materiality of any variance.","page_number":15,"box":{"x":62,"y":772,"width":197,"height":11}},{"id":"3c9151b1-2bbf-4d58-bbb2-e2567d826c31","block_type":"box","text":"When determining such fair value, one or more of a","page_number":15,"box":{"x":62,"y":792,"width":400,"height":11}},{"id":"06987cb3-7181-4116-8f40-2012d25b9185","block_type":"box","text":"variety of fair valuation methodologies may be used","page_number":15,"box":{"x":62,"y":805,"width":399,"height":11}},{"id":"284fc60b-73a7-49d1-8aa4-4f77ddd31c0a","block_type":"box","text":"(depending on factors including the asset type). For","page_number":15,"box":{"x":63,"y":819,"width":399,"height":11}},{"id":"8ecf432c-44bf-4e2d-ac3b-e4c229de2e06","block_type":"box","text":"example, the asset may be priced on the basis of the","page_number":15,"box":{"x":62,"y":832,"width":399,"height":12}},{"id":"dde101e2-84e8-4224-aaf6-c1664f63189d","block_type":"box","text":"original cost of the investment or, alternatively, using","page_number":15,"box":{"x":62,"y":846,"width":399,"height":11}},{"id":"bfd43bb8-ea7e-49ec-84b0-4561c4babaa8","block_type":"box","text":"proprietary or third party models (including models that","page_number":15,"box":{"x":62,"y":860,"width":400,"height":11}},{"id":"670b004e-e046-40ca-b385-7e7f825e9848","block_type":"box","text":"rely upon direct portfolio management pricing inputs","page_number":15,"box":{"x":63,"y":874,"width":398,"height":11}},{"id":"690849d0-dde2-4e11-94a5-9feaed67eb5f","block_type":"box","text":"and which reflect the significance attributed to the","page_number":15,"box":{"x":62,"y":887,"width":399,"height":11}},{"id":"b4076e13-6777-479b-abbd-38b3716a31cc","block_type":"box","text":"various factors and assumptions being considered).","page_number":15,"box":{"x":62,"y":901,"width":399,"height":11}},{"id":"b2944ceb-b70f-403c-a7cf-b7f3c1d219d1","block_type":"box","text":"Prices of actual, executed or historical transactions in","page_number":15,"box":{"x":63,"y":914,"width":398,"height":11}},{"id":"7123f82f-bb06-494e-9050-9075979e05b7","block_type":"box","text":"the relevant asset and/or liability (or related or","page_number":15,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"0fa5ce4a-b04a-444f-b56a-c8ee519ddf43","block_type":"box","text":"comparable assets and/or liabilities) or, where","page_number":15,"box":{"x":523,"y":59,"width":400,"height":11}},{"id":"286129ab-24bb-4846-9048-8233d1bfeaa5","block_type":"box","text":"appropriate, an appraisal by a third party experienced","page_number":15,"box":{"x":523,"y":73,"width":399,"height":11}},{"id":"4d906001-6b17-487f-85b5-5531ee66e7c3","block_type":"box","text":"in the valuation of similar assets and/or liabilities, may","page_number":15,"box":{"x":524,"y":87,"width":399,"height":11}},{"id":"65faa108-88d9-4d4c-a6e6-b7889414519a","block_type":"box","text":"also be used as a basis for establishing the fair value","page_number":15,"box":{"x":523,"y":100,"width":400,"height":12}},{"id":"e2890f7a-f889-4a85-b6eb-1ee1d7c5c57b","block_type":"box","text":"of an asset or liability.","page_number":15,"box":{"x":523,"y":114,"width":160,"height":11}},{"id":"a8394efc-f1d4-46a3-aef8-4639d1b01780","block_type":"box","text":"Where an adjustment is made as per the foregoing, it","page_number":15,"box":{"x":523,"y":134,"width":400,"height":11}},{"id":"ed4b9fa6-3c4e-46a9-9829-a246661b4e6f","block_type":"box","text":"will be applied consistently to all classes of Units within","page_number":15,"box":{"x":523,"y":147,"width":399,"height":11}},{"id":"e241fa1f-f488-48a9-8c5c-cfce2104f965","block_type":"box","text":"the same Sub-Fund.","page_number":15,"box":{"x":523,"y":161,"width":150,"height":9}},{"id":"846c8fd9-dbf6-4a38-ada1-4ad1009b4aa6","block_type":"box","text":"At a Valuation Point the ACS Manager will calculate","page_number":15,"box":{"x":523,"y":180,"width":400,"height":12}},{"id":"c4f03d36-07e8-4301-9783-7b1056122ecd","block_type":"box","text":"Unit prices, using the most recent prices of the","page_number":15,"box":{"x":524,"y":194,"width":399,"height":11}},{"id":"40db169f-18c6-49ca-91ef-89fc64fc19a7","block_type":"box","text":"underlying securities that it can reasonably obtain. The","page_number":15,"box":{"x":524,"y":208,"width":399,"height":11}},{"id":"f81a9d06-619f-47ae-b88d-03edbf98f7c7","block_type":"box","text":"objective is to give an accurate value of the Sub-Fund","page_number":15,"box":{"x":523,"y":221,"width":399,"height":12}},{"id":"522d69e6-9c39-498b-97ee-345726fa8102","block_type":"box","text":"as at the Valuation Point. The Base Currency of each","page_number":15,"box":{"x":523,"y":235,"width":399,"height":11}},{"id":"d078be4d-600b-4aba-97cb-d7bac86a2b76","block_type":"box","text":"Sub-Fund is sterling with the exception of the Aviva","page_number":15,"box":{"x":523,"y":249,"width":400,"height":11}},{"id":"6ce6e4cb-d69e-4108-b4ec-36299900ca7c","block_type":"box","text":"Investors Emerging Market Equity Core Fund which","page_number":15,"box":{"x":524,"y":262,"width":398,"height":12}},{"id":"12859899-697f-4f51-bdfc-f1ccb0278b60","block_type":"box","text":"has a base currency of USD.","page_number":15,"box":{"x":524,"y":276,"width":212,"height":11}},{"id":"720df25f-3d63-445d-8f11-7a810bd5bfc1","block_type":"box","text":"In respect of the AI Money Market VNAV Fund (the","page_number":15,"box":{"x":524,"y":296,"width":399,"height":11}},{"id":"147d9f2f-06bc-41d6-ae9e-7fba8b74f899","block_type":"box","text":"“VNAV Fund”) only:","page_number":15,"box":{"x":523,"y":309,"width":144,"height":12}},{"id":"ab793c08-2911-4d22-a1b7-ce82740a20f2","block_type":"box","text":"The assets of the VNAV Fund shall be valued on a","page_number":15,"box":{"x":523,"y":329,"width":400,"height":9}},{"id":"050646e3-72ef-4dd2-8a9a-2efc1832e4fa","block_type":"box","text":"daily basis using mark-to market wherever possible.","page_number":15,"box":{"x":523,"y":343,"width":384,"height":11}},{"id":"154385e9-104f-405e-9c1a-3852c93362ea","block_type":"box","text":"When using mark-to market: (a) the asset of the VNAV","page_number":15,"box":{"x":523,"y":362,"width":400,"height":11}},{"id":"feb04894-f517-4b13-bff3-9d39f7018161","block_type":"box","text":"Fund shall be valued at the more prudent side of bid","page_number":15,"box":{"x":524,"y":376,"width":398,"height":11}},{"id":"fd103183-3ab2-4809-a1f4-80d236efb971","block_type":"box","text":"and offer unless the asset can be closed out at mid","page_number":15,"box":{"x":523,"y":390,"width":399,"height":8}},{"id":"4f6a646b-885d-46e6-97e8-e8e986117e4b","block_type":"box","text":"market; (b) only good quality market data shall be","page_number":15,"box":{"x":524,"y":403,"width":399,"height":11}},{"id":"6a43b467-f637-4a77-9635-557eddae6298","block_type":"box","text":"used; such data shall be assessed on the basis of all","page_number":15,"box":{"x":524,"y":417,"width":398,"height":10}},{"id":"11dc9d91-df72-43ed-9cf0-fb3f5c867257","block_type":"box","text":"of the following factors: (i) the number and quality of","page_number":15,"box":{"x":523,"y":430,"width":400,"height":12}},{"id":"970e76da-d243-4200-b5ef-11d0d59e1956","block_type":"box","text":"the counterparties; (ii) the volume and turnover in the","page_number":15,"box":{"x":523,"y":444,"width":400,"height":11}},{"id":"fcad6508-9a56-46fe-b908-bf46c6c2d5c4","block_type":"box","text":"market of the asset of the VNAV Fund; (iii) the issue","page_number":15,"box":{"x":524,"y":458,"width":399,"height":11}},{"id":"0a68e45f-7659-4299-9e0e-9214dbb1a2f9","block_type":"box","text":"size and the portion of the issue that the VNAV Fund","page_number":15,"box":{"x":523,"y":471,"width":399,"height":12}},{"id":"85ca54bb-2555-4a1f-b29e-624e5aa724a2","block_type":"box","text":"plans to buy or sell.","page_number":15,"box":{"x":524,"y":485,"width":142,"height":11}},{"id":"5c3ed51e-98cb-4e14-97e8-7dd63d4a1282","block_type":"box","text":"Where use of mark-to-market is not possible, or the","page_number":15,"box":{"x":523,"y":505,"width":400,"height":11}},{"id":"bc88eb98-db7c-431f-b7f5-74c4a86a0a61","block_type":"box","text":"market data is not of sufficient quality, an asset of the","page_number":15,"box":{"x":524,"y":518,"width":399,"height":11}},{"id":"1ba8ec89-bd63-4e1c-ac68-730db647a533","block_type":"box","text":"VNAV Fund shall be valued conservatively by using","page_number":15,"box":{"x":523,"y":532,"width":399,"height":11}},{"id":"82501ab3-2d77-457a-a548-c90d8c902207","block_type":"box","text":"mark-to-model. The model shall accurately estimate","page_number":15,"box":{"x":524,"y":546,"width":399,"height":11}},{"id":"ba5a80b2-9055-4ec1-a97e-157bdf6f1279","block_type":"box","text":"the intrinsic value of the asset of the VNAV Fund,","page_number":15,"box":{"x":523,"y":559,"width":399,"height":11}},{"id":"6b576bd2-ea8c-4a83-9437-920fb0af0476","block_type":"box","text":"based on all of the following up-to-date key factors: (a)","page_number":15,"box":{"x":524,"y":573,"width":398,"height":11}},{"id":"c6b0b0f3-b71f-4d75-a63b-40501a16e381","block_type":"box","text":"the volume and turnover in the market of that asset; (b)","page_number":15,"box":{"x":523,"y":587,"width":399,"height":11}},{"id":"08c5dbe3-3c25-448c-9e84-b3f888639f3e","block_type":"box","text":"the issue size and the portion of the issue that the","page_number":15,"box":{"x":523,"y":600,"width":400,"height":11}},{"id":"38f09b71-c4de-4f36-8201-08f8064dac7b","block_type":"box","text":"VNAV Fund plans to buy or sell; (c) market risk,","page_number":15,"box":{"x":523,"y":614,"width":399,"height":11}},{"id":"6f391cda-b3bb-4b23-9913-b77fb549ef4d","block_type":"box","text":"interest rate risk, credit risk attached to the asset.","page_number":15,"box":{"x":524,"y":628,"width":398,"height":10}},{"id":"1bfa107c-fe71-4ad2-942b-611012a2920c","block_type":"box","text":"When using mark-to-model, the amortised cost","page_number":15,"box":{"x":523,"y":641,"width":400,"height":12}},{"id":"98246bf7-e560-4d3c-8203-ed93ae8de234","block_type":"box","text":"method shall not be used. Valuations shall be","page_number":15,"box":{"x":524,"y":655,"width":399,"height":9}},{"id":"40e2e1e8-2a8a-436d-a716-825954d19e5e","block_type":"box","text":"communicated to the FCA.","page_number":15,"box":{"x":523,"y":669,"width":197,"height":9}},{"id":"e973e8fa-63c5-4ef8-9f27-3de9c309367e","block_type":"box","text":"The VNAV Fund shall calculate the value of the assets","page_number":15,"box":{"x":523,"y":688,"width":400,"height":9}},{"id":"7e016438-5f45-4b9b-b381-3b8bf821bfb2","block_type":"box","text":"of the VNAV Fund per unit as the difference between","page_number":15,"box":{"x":523,"y":702,"width":399,"height":11}},{"id":"1f056dc2-110a-40af-97be-62eac7e50acd","block_type":"box","text":"the sum of all assets of the VNAV Fund and the sum","page_number":15,"box":{"x":523,"y":716,"width":399,"height":8}},{"id":"696e3788-558a-4fdf-b9bd-a937583abf24","block_type":"box","text":"of all liabilities of the VNAV Fund valued in accordance","page_number":15,"box":{"x":523,"y":729,"width":400,"height":9}},{"id":"37686d3e-77e1-4395-a2c2-ae6f0e5d6d5b","block_type":"box","text":"with mark-to-market or mark-to-model, or both, divided","page_number":15,"box":{"x":523,"y":743,"width":399,"height":10}},{"id":"f114b56b-3817-4c4e-9fbf-e6c437ea699a","block_type":"box","text":"by the number of outstanding units or shares of the","page_number":15,"box":{"x":524,"y":757,"width":399,"height":11}},{"id":"a5bc0285-cdcc-42d2-901f-7549c0dec75a","block_type":"box","text":"VNAV Fund. The value of the assets of the VNAV Fund","page_number":15,"box":{"x":523,"y":770,"width":399,"height":9}},{"id":"9a59deab-db6f-4d56-ba08-dbeb8716b8df","block_type":"box","text":"per unit or share shall be rounded to the nearest basis","page_number":15,"box":{"x":524,"y":784,"width":399,"height":11}},{"id":"92315b20-d826-4c59-b372-1928e9f05ae8","block_type":"box","text":"point.","page_number":15,"box":{"x":524,"y":798,"width":38,"height":11}},{"id":"ceea0e5e-7bc9-4ce1-b0a1-80246c97ced6","block_type":"box","text":"17. Prices of Units and Historic Performance","page_number":15,"box":{"x":536,"y":823,"width":387,"height":9}},{"id":"d6ccf4e8-6137-4d69-8ae7-8cf3e945db17","block_type":"box","text":"Data","page_number":15,"box":{"x":583,"y":837,"width":35,"height":8}},{"id":"d58fa7b7-76b4-4cb8-bb70-f0840f53a130","block_type":"box","text":"The ACS Manager will, on the completion of each","page_number":15,"box":{"x":523,"y":856,"width":399,"height":11}},{"id":"9e01bf7d-cba5-41fd-8f29-07ab7f27495d","block_type":"box","text":"valuation under section 16, advise the Depositary of","page_number":15,"box":{"x":523,"y":870,"width":400,"height":11}},{"id":"88e14729-0569-49a0-abc1-b48ed757f2c3","block_type":"box","text":"the subscription and redemption prices. These are the","page_number":15,"box":{"x":523,"y":884,"width":400,"height":11}},{"id":"68f3e01e-9447-412f-aea5-8a1178586601","block_type":"box","text":"prices which the ACS Manager has to pay to the","page_number":15,"box":{"x":524,"y":897,"width":399,"height":11}},{"id":"c617c593-c833-441c-9457-24e358ce29e5","block_type":"box","text":"Depositary for the issue of Units or, the prices which","page_number":15,"box":{"x":524,"y":911,"width":398,"height":11}},{"id":"dea58a91-0f7c-41f0-badc-92711c12ccbc","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 16","page_number":16,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"5c0f44b3-928e-433f-81e2-86bdfdc29675","block_type":"box","text":"the ACS Manager will receive from the Depositary","page_number":16,"box":{"x":62,"y":46,"width":400,"height":11}},{"id":"0bfaac6e-13a5-4c66-85b6-0b331baccdc5","block_type":"box","text":"upon the cancellation of Units.","page_number":16,"box":{"x":63,"y":59,"width":222,"height":11}},{"id":"cc8cfa03-50b7-4c99-ac43-9ae7e1c108c5","block_type":"box","text":"The actual cost of subscribing for or redeeming Units","page_number":16,"box":{"x":62,"y":79,"width":399,"height":11}},{"id":"3b3dced2-2a53-4906-986c-054c40ad61de","block_type":"box","text":"in a Sub-Fund may be higher or lower than the mid","page_number":16,"box":{"x":62,"y":93,"width":399,"height":11}},{"id":"748811e2-342a-4b49-bcbd-721c422c8aba","block_type":"box","text":"market value used in calculating the Unit price. The","page_number":16,"box":{"x":62,"y":106,"width":399,"height":12}},{"id":"3dc6cef7-474f-43be-b94d-6fdb7909b1e3","block_type":"box","text":"ACS Manager may swing the price up (or down) to","page_number":16,"box":{"x":62,"y":120,"width":399,"height":11}},{"id":"cd7f5e01-6c0d-49d6-8744-e0097adafbab","block_type":"box","text":"protect Unitholders from the costs incurred by the Sub","page_number":16,"box":{"x":62,"y":134,"width":399,"height":11}},{"id":"2a1a8084-2135-4452-b393-128f67f3831e","block_type":"box","text":"Fund as a result of issuing or cancelling Units. This","page_number":16,"box":{"x":63,"y":147,"width":398,"height":11}},{"id":"c2324449-b7fd-49e4-bfe1-3c45fc6375fa","block_type":"box","text":"particular method of arriving at the daily unit price is","page_number":16,"box":{"x":62,"y":161,"width":399,"height":11}},{"id":"34834444-605e-4d3c-aee9-3e8e35175ddd","block_type":"box","text":"known as the swinging price method and it is this","page_number":16,"box":{"x":62,"y":175,"width":399,"height":11}},{"id":"245e0815-a54b-4961-9657-7f467c3a9b49","block_type":"box","text":"method which will be used by the ACS Manager.","page_number":16,"box":{"x":62,"y":188,"width":399,"height":11}},{"id":"5143c9a4-6ad4-4791-9ca8-bdc9d7d5ad92","block_type":"box","text":"Further details are set out in Appendix 7 under the","page_number":16,"box":{"x":63,"y":202,"width":398,"height":11}},{"id":"3d7cdb08-ba27-419c-a372-8af2ca741c81","block_type":"box","text":"heading Determination of Unit Price.","page_number":16,"box":{"x":62,"y":216,"width":268,"height":11}},{"id":"6a59e8f8-ac51-4578-b85e-c85dfb68bc5f","block_type":"box","text":"The ACS Manager may make an adjustment to the","page_number":16,"box":{"x":62,"y":235,"width":399,"height":11}},{"id":"da14cf78-64a1-4c5f-936c-04e4690c847c","block_type":"box","text":"price for the purpose of reducing dilution in the","page_number":16,"box":{"x":62,"y":249,"width":399,"height":11}},{"id":"14d315cd-073c-40fa-a45f-e89b9d1dd8da","block_type":"box","text":"Scheme or to recover any amount which it had already","page_number":16,"box":{"x":62,"y":262,"width":400,"height":12}},{"id":"4d0c3b88-4c92-43ee-ac93-71ee337dc466","block_type":"box","text":"paid or reasonably expects to pay in the future in","page_number":16,"box":{"x":62,"y":276,"width":399,"height":11}},{"id":"f0eae5ab-245a-443b-91fb-0a4deadc9d61","block_type":"box","text":"relation to the issue or cancellation of Units.","page_number":16,"box":{"x":63,"y":290,"width":322,"height":9}},{"id":"9e181229-b87a-441c-810c-d352e73d69b5","block_type":"box","text":"Where the ACS Manager decides to make or not to","page_number":16,"box":{"x":62,"y":309,"width":399,"height":12}},{"id":"6c246417-f5cb-422d-bae4-d2d4b6423b11","block_type":"box","text":"make a dilution adjustment, it will not do so for the","page_number":16,"box":{"x":62,"y":323,"width":399,"height":11}},{"id":"eaa17f27-2877-4739-bb43-ae978d9eec81","block_type":"box","text":"purpose of creating a profit or avoiding a loss for the","page_number":16,"box":{"x":62,"y":337,"width":399,"height":11}},{"id":"6218183c-82f3-4f77-bcd9-2168cad5ad41","block_type":"box","text":"account of an affected person.","page_number":16,"box":{"x":62,"y":350,"width":224,"height":11}},{"id":"706bf35c-ac7e-426b-a7fa-68e6b3165a84","block_type":"box","text":"A dilution adjustment can be made when there is a net","page_number":16,"box":{"x":62,"y":370,"width":400,"height":11}},{"id":"f3b8bd66-05e7-4ea8-9260-af057fd9c35e","block_type":"box","text":"flow in or out of the Scheme. The rate of adjustment","page_number":16,"box":{"x":62,"y":384,"width":400,"height":11}},{"id":"d80dd878-7177-4f42-8fa2-e6e31e1e8d09","block_type":"box","text":"will not exceed the price of the Scheme valuation","page_number":16,"box":{"x":62,"y":397,"width":399,"height":11}},{"id":"247f4bae-96a0-4bc6-b127-8bb21e29b66e","block_type":"box","text":"calculation based on either the buying prices or selling","page_number":16,"box":{"x":62,"y":411,"width":399,"height":11}},{"id":"8e1d3bd7-1fa8-4c63-b18a-342426fde203","block_type":"box","text":"prices of the underlying securities.","page_number":16,"box":{"x":62,"y":425,"width":252,"height":11}},{"id":"367f39ca-b922-4905-9caf-9aac4e46b9a8","block_type":"box","text":"It is not possible to predict accurately whether dilution","page_number":16,"box":{"x":63,"y":444,"width":398,"height":11}},{"id":"ef2db124-bb33-4ae4-973b-9ccb963f4744","block_type":"box","text":"is likely to occur. However, the nature of the Unitholder","page_number":16,"box":{"x":62,"y":458,"width":400,"height":11}},{"id":"fd772e9e-d35f-4a41-add4-4f1226ab642c","block_type":"box","text":"base means that Unitholder purchases or redemptions","page_number":16,"box":{"x":62,"y":472,"width":399,"height":11}},{"id":"8c1b92db-6082-4c1b-b8a2-4c86ae4c36af","block_type":"box","text":"are likely to be significant and it is therefore probable","page_number":16,"box":{"x":62,"y":485,"width":399,"height":11}},{"id":"fadac275-2cf7-4bb7-a272-c31a9ed5993a","block_type":"box","text":"that there will be a dilution adjustment made to protect","page_number":16,"box":{"x":62,"y":499,"width":400,"height":11}},{"id":"421401dd-ce31-4c27-b632-3a8588ab248a","block_type":"box","text":"the remaining Unitholders in affected Sub-Funds.","page_number":16,"box":{"x":62,"y":512,"width":363,"height":12}},{"id":"bb0a8233-579a-40e6-8bd5-5d820729dc94","block_type":"box","text":"Historic performance data (where available) is shown","page_number":16,"box":{"x":63,"y":532,"width":398,"height":11}},{"id":"c7c324df-5fb7-4874-b7c4-e2f6e04ff19f","block_type":"box","text":"in the individual Sub-Fund information in Appendix 1 of","page_number":16,"box":{"x":62,"y":546,"width":400,"height":11}},{"id":"d9ca8b2a-55c1-42bd-886c-fd3cedc8b81a","block_type":"box","text":"this Prospectus, Key Investor Information Document","page_number":16,"box":{"x":62,"y":559,"width":400,"height":12}},{"id":"f823b666-2379-4816-bf84-9b714fd56684","block_type":"box","text":"and fact sheets that may be available from time to time.","page_number":16,"box":{"x":62,"y":573,"width":398,"height":11}},{"id":"51bccce7-a2f8-4178-adaa-058847e95479","block_type":"box","text":"For up to date information visit the ACS Manager's","page_number":16,"box":{"x":63,"y":587,"width":398,"height":11}},{"id":"c9bbd3d5-d102-4b7a-ad6c-2d1f266c889e","block_type":"box","text":"website","page_number":16,"box":{"x":62,"y":600,"width":56,"height":9}},{"id":"81404fee-b7c7-444b-b658-e6eefedfa447","block_type":"box","text":"https://www.avivainvestors.com/en","page_number":16,"box":{"x":200,"y":600,"width":261,"height":11}},{"id":"bbdc5bbb-181d-469c-a9eb-556dec9877b1","block_type":"box","text":"gb/institutional/fund-centre/tax-transparent.html","page_number":16,"box":{"x":62,"y":614,"width":349,"height":11}},{"id":"b3f38dce-64bd-4582-9739-a12fea301512","block_type":"box","text":"or","page_number":16,"box":{"x":448,"y":616,"width":14,"height":7}},{"id":"c9ff78c3-5d01-4457-9a15-15fa4780fa1b","block_type":"box","text":"speak to its Client Relationship Management Team on","page_number":16,"box":{"x":62,"y":628,"width":399,"height":11}},{"id":"d2df6821-eae7-4e24-9a09-4bdd4e7574c9","block_type":"box","text":"0207 809 8135.","page_number":16,"box":{"x":62,"y":642,"width":114,"height":8}},{"id":"d9714e19-6fe1-4fa7-ae95-30cb61b2c155","block_type":"box","text":"Please do not take past performance as a guide to","page_number":16,"box":{"x":63,"y":661,"width":398,"height":11}},{"id":"cce3b7d3-d520-4f90-aa81-774fe20dd1e6","block_type":"box","text":"future performance. The value of your investment","page_number":16,"box":{"x":62,"y":675,"width":399,"height":11}},{"id":"27e5faef-80c9-47ba-ae48-309032a3a59a","block_type":"box","text":"and any income you receive from it can go down","page_number":16,"box":{"x":62,"y":688,"width":399,"height":11}},{"id":"1202e122-ad4b-445a-a08c-e7c0646feaf3","block_type":"box","text":"as well as up. You may get back less than the","page_number":16,"box":{"x":62,"y":702,"width":400,"height":11}},{"id":"691b0f2a-8fe3-428e-9d95-451dd8114055","block_type":"box","text":"amount you originally invested.","page_number":16,"box":{"x":62,"y":716,"width":250,"height":11}},{"id":"70271262-2bb0-4923-96b4-c22b24694258","block_type":"box","text":"The performance figures in Appendix 1 may not be the","page_number":16,"box":{"x":62,"y":735,"width":399,"height":11}},{"id":"ea0beafc-1cd9-4f65-aeaf-abc02fad967f","block_type":"box","text":"most up to date available. Please telephone the Client","page_number":16,"box":{"x":62,"y":749,"width":400,"height":11}},{"id":"e998ba79-c32a-4c72-9962-683d8c88677c","block_type":"box","text":"Relationship Management Team on 0207 809 8135","page_number":16,"box":{"x":63,"y":763,"width":398,"height":11}},{"id":"0241bf8e-0a86-4fce-8aa0-ee63c4cc6a6b","block_type":"box","text":"between 8:30am and 5:30pm on any Dealing Day for","page_number":16,"box":{"x":62,"y":776,"width":400,"height":11}},{"id":"fa8d3f89-d843-4b25-a987-e491fb12513c","block_type":"box","text":"the most recent information.*","page_number":16,"box":{"x":62,"y":790,"width":213,"height":9}},{"id":"97435aab-6fef-4e05-84d2-a426f64b4521","block_type":"box","text":"The performance of an index or other benchmark,","page_number":16,"box":{"x":62,"y":809,"width":399,"height":11}},{"id":"c35923a3-f817-430c-9d0a-98404a3a4fd6","block_type":"box","text":"where referred to in a Sub-Fund’s investment objective","page_number":16,"box":{"x":62,"y":823,"width":399,"height":11}},{"id":"3a4146f5-9660-468f-ad23-6a9836e6704f","block_type":"box","text":"and policy is also shown in Appendix 1.","page_number":16,"box":{"x":62,"y":837,"width":290,"height":11}},{"id":"be6e64e7-64ec-4b17-8a23-ba2a5e30359c","block_type":"box","text":"Source for all data for the period 1 January 2024 to 31","page_number":16,"box":{"x":62,"y":856,"width":397,"height":11}},{"id":"fcc3f844-d69a-4467-afd5-5ab47655da35","block_type":"box","text":"December 2024 is the ACS Manager. This is based on","page_number":16,"box":{"x":63,"y":870,"width":398,"height":11}},{"id":"8a49cef2-7237-4960-a440-f9c8dd4c6bde","block_type":"box","text":"index provider data where applicable. Performance","page_number":16,"box":{"x":62,"y":884,"width":399,"height":11}},{"id":"26c5225a-39bf-489b-828d-8de791ab3834","block_type":"box","text":"figures are based on net asset value, per the published","page_number":16,"box":{"x":62,"y":897,"width":399,"height":11}},{"id":"9955a73d-8ff3-4b6c-968f-7fc60c267268","block_type":"box","text":"accounts and are shown after charges.","page_number":16,"box":{"x":62,"y":911,"width":287,"height":11}},{"id":"8e0faffd-fd32-44b4-92c6-93e82b999005","block_type":"box","text":"Source for all data in subsequent periods: Aviva","page_number":16,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"9ddc7152-6623-4f61-b527-00c66be11bf5","block_type":"box","text":"Investors/Lipper, Refinitiv Company, subject to the","page_number":16,"box":{"x":524,"y":59,"width":399,"height":12}},{"id":"0a65f72e-25c2-4326-b397-8a14b03b944a","block_type":"box","text":"following: Copyright 2025 © Refinitiv. All rights","page_number":16,"box":{"x":523,"y":73,"width":400,"height":11}},{"id":"6a7bcb13-6261-45fc-b395-d3fa00ce3971","block_type":"box","text":"reserved. Lipper shall not be liable for any errors or","page_number":16,"box":{"x":524,"y":87,"width":399,"height":11}},{"id":"5690d44d-a563-4de3-981f-f0bc3acd5feb","block_type":"box","text":"delays in the content, or for any actions taken in","page_number":16,"box":{"x":523,"y":100,"width":399,"height":11}},{"id":"71f03980-9261-4d10-8ea5-5e0caf26f6df","block_type":"box","text":"reliance thereon. This is based on index provider data","page_number":16,"box":{"x":524,"y":114,"width":399,"height":11}},{"id":"590e18ae-25db-4dfd-9a10-736a10222f27","block_type":"box","text":"where applicable. All performance figures are","page_number":16,"box":{"x":523,"y":128,"width":400,"height":11}},{"id":"959c1a9c-5b39-43eb-a8eb-47c741e222a3","block_type":"box","text":"calculated based on the published price, with net","page_number":16,"box":{"x":523,"y":142,"width":400,"height":10}},{"id":"c5e9cac2-1fd8-4047-b157-210d05231089","block_type":"box","text":"income reinvested in GBP, net of fees.","page_number":16,"box":{"x":524,"y":155,"width":284,"height":10}},{"id":"95e8015d-82c6-4704-82b4-8672fbd18af0","block_type":"box","text":"Further information in respect of income returns,","page_number":16,"box":{"x":524,"y":175,"width":398,"height":11}},{"id":"f1d2e462-fb7a-4841-8cbf-34fa800cfff3","block_type":"box","text":"tracking error and volatility (where applicable) is","page_number":16,"box":{"x":523,"y":188,"width":400,"height":11}},{"id":"f4b7f993-3df5-46eb-b3ad-9f855d06bb13","block_type":"box","text":"available on request from the ACS Manager.","page_number":16,"box":{"x":523,"y":202,"width":330,"height":11}},{"id":"3dfbc495-7623-4572-91b2-ee526f0731cd","block_type":"box","text":"* Telephone calls may be recorded by the ACS","page_number":16,"box":{"x":523,"y":221,"width":400,"height":12}},{"id":"815ae129-d4da-44e3-b4f3-1a1ce01564e7","block_type":"box","text":"Manager, its delegates, their duly appointed agents","page_number":16,"box":{"x":524,"y":235,"width":399,"height":11}},{"id":"e93d1200-d96a-4c0b-ad3e-10684758b67c","block_type":"box","text":"and any of their respective related, associated or","page_number":16,"box":{"x":523,"y":249,"width":400,"height":11}},{"id":"c80081c2-be09-4a47-8fb0-345bf8fb72f6","block_type":"box","text":"affiliated companies for records keeping, security","page_number":16,"box":{"x":523,"y":263,"width":400,"height":11}},{"id":"8ed07bc2-1384-468a-8b41-1307bb508612","block_type":"box","text":"and/or training purposes, please see the paragraph","page_number":16,"box":{"x":523,"y":276,"width":399,"height":11}},{"id":"fc79501a-a892-4847-9c8e-cc0ab8c3d5e3","block_type":"box","text":"“Telephone Recording” below for further information.","page_number":16,"box":{"x":523,"y":290,"width":388,"height":11}},{"id":"9a9f4225-7efa-492e-864d-865775c1cec1","block_type":"box","text":"18. Policy on Pricing","page_number":16,"box":{"x":536,"y":315,"width":181,"height":11}},{"id":"146ba5ba-62ba-434b-9e32-d5f2e2cb010f","block_type":"box","text":"When Units are subscribed for, they will be issued on","page_number":16,"box":{"x":523,"y":335,"width":399,"height":11}},{"id":"51d6891b-5ccc-4935-b661-55dba992dd35","block_type":"box","text":"a forward pricing basis. The forward price will be","page_number":16,"box":{"x":523,"y":349,"width":400,"height":11}},{"id":"7abe1f9c-23ad-45d1-a3ba-ef3373fb7475","block_type":"box","text":"calculated at the next Valuation Point after receipt of","page_number":16,"box":{"x":523,"y":362,"width":400,"height":11}},{"id":"784de373-40e7-4032-a940-d237f5e87b0e","block_type":"box","text":"purchase instructions so long as these were received","page_number":16,"box":{"x":524,"y":376,"width":398,"height":11}},{"id":"2c8f6455-9c12-4586-80c8-815a02e97257","block_type":"box","text":"and accepted prior to the relevant Sub-Fund's Deal","page_number":16,"box":{"x":523,"y":389,"width":399,"height":12}},{"id":"05d434e5-c8e8-460b-8eff-ebd38e701052","block_type":"box","text":"Cut-Off Point (where applicable).","page_number":16,"box":{"x":523,"y":403,"width":242,"height":11}},{"id":"5e145963-039d-4ce1-85e9-8c815c8fb146","block_type":"box","text":"When Units are redeemed, Units will be redeemed on","page_number":16,"box":{"x":523,"y":423,"width":399,"height":10}},{"id":"f1955fb8-5a89-4560-8cf3-99f47a575e2a","block_type":"box","text":"a forward pricing basis.","page_number":16,"box":{"x":523,"y":437,"width":171,"height":11}},{"id":"6b314a5d-8b91-46ec-9652-caf6ba999499","block_type":"box","text":"The forward price will be calculated at the next","page_number":16,"box":{"x":523,"y":456,"width":400,"height":11}},{"id":"0d7ace28-9160-4407-b7e7-7f9817bdc21c","block_type":"box","text":"Valuation Point following receipt of a redemption","page_number":16,"box":{"x":523,"y":470,"width":399,"height":11}},{"id":"1b954355-adc8-4d9d-a480-17addce8d36a","block_type":"box","text":"instruction so long as these were received and","page_number":16,"box":{"x":524,"y":484,"width":398,"height":11}},{"id":"f18b3cbb-b1ea-4eda-bbca-e4bd030cf139","block_type":"box","text":"accepted prior to the relevant Sub-Fund's Deal Cut-Off","page_number":16,"box":{"x":523,"y":497,"width":400,"height":11}},{"id":"29e27206-4593-4ce9-8821-2a9e14ba9e44","block_type":"box","text":"Point (where applicable).","page_number":16,"box":{"x":524,"y":511,"width":182,"height":11}},{"id":"788c3c42-c21b-4ed2-a595-c04397e30314","block_type":"box","text":"19. Minimum Investment","page_number":16,"box":{"x":536,"y":536,"width":213,"height":9}},{"id":"e5626a8b-16db-4680-9a9d-bd5c2a73f71c","block_type":"box","text":"If following a redemption or switch a holding in any","page_number":16,"box":{"x":524,"y":556,"width":399,"height":11}},{"id":"fb796045-082e-4d5a-9e1e-9454abdf50a2","block_type":"box","text":"class of Unit should fall below the Minimum Investment","page_number":16,"box":{"x":523,"y":570,"width":400,"height":8}},{"id":"74855ac0-c5c3-4a71-8f61-af9b3539168e","block_type":"box","text":"for that class, as detailed in Appendix 1, the ACS","page_number":16,"box":{"x":523,"y":583,"width":400,"height":11}},{"id":"f1d9d254-1243-4cb9-a186-ffba55510375","block_type":"box","text":"Manager has the discretion to effect a redemption of a","page_number":16,"box":{"x":524,"y":597,"width":399,"height":11}},{"id":"06884010-58b4-435f-ab21-4b92decd24ec","block_type":"box","text":"Unitholder’s entire holding in that class of Unit.","page_number":16,"box":{"x":524,"y":610,"width":343,"height":12}},{"id":"33946f47-137c-4d08-92a4-cc9c4f293c55","block_type":"box","text":"The ACS Manager will not be obliged to redeem Units","page_number":16,"box":{"x":523,"y":630,"width":400,"height":11}},{"id":"c629dcca-6e96-4a36-9e83-ba2459abde42","block_type":"box","text":"if the number or value of the Units sought to be sold","page_number":16,"box":{"x":524,"y":644,"width":398,"height":11}},{"id":"4311511f-b9b0-4de7-a3f6-ea8c22836998","block_type":"box","text":"would result in the Unitholder holding less than any","page_number":16,"box":{"x":523,"y":657,"width":400,"height":12}},{"id":"fdf418c0-dbc4-4607-a7d8-630817aab3c1","block_type":"box","text":"Minimum Investment stated in Appendix 1 as the","page_number":16,"box":{"x":524,"y":671,"width":399,"height":11}},{"id":"3f3ac9d2-46cb-4442-a476-9dddf34a14fe","block_type":"box","text":"minimum number or value of Units of the Unit Class","page_number":16,"box":{"x":524,"y":685,"width":399,"height":9}},{"id":"92d3bb82-4d17-4c5d-a7d7-f65da9c45f0d","block_type":"box","text":"concerned that may be held.","page_number":16,"box":{"x":523,"y":698,"width":210,"height":11}},{"id":"0929a3bc-3251-42a7-bac1-e6699db41d7b","block_type":"box","text":"Minimum Investments may be waived at the ACS","page_number":16,"box":{"x":524,"y":718,"width":399,"height":11}},{"id":"113931f7-beeb-4e13-addd-a2f7124ef04e","block_type":"box","text":"Manager's discretion.","page_number":16,"box":{"x":524,"y":732,"width":156,"height":11}},{"id":"5b186737-b2e4-4bb7-a84b-942f9c8fea71","block_type":"box","text":"20. ACS Manager's Box","page_number":16,"box":{"x":535,"y":757,"width":206,"height":11}},{"id":"4c89f9b1-f9f6-4294-8371-3f05f33d676f","block_type":"box","text":"It is not the ACS Manager's policy as at the date of this","page_number":16,"box":{"x":524,"y":777,"width":398,"height":11}},{"id":"60347655-0ad4-4d74-a9ed-b8a21e60ae80","block_type":"box","text":"Prospectus to run a \"box\" (i.e. hold Units in the Sub","page_number":16,"box":{"x":524,"y":790,"width":398,"height":11}},{"id":"c2f32249-2d9d-451d-983b-4e2838a930f6","block_type":"box","text":"Funds in its own accounts).","page_number":16,"box":{"x":524,"y":804,"width":201,"height":11}},{"id":"17313875-c65e-442f-a421-2eda48d51f96","block_type":"box","text":"21. Publication of Prices and Yields","page_number":16,"box":{"x":535,"y":830,"width":301,"height":8}},{"id":"baf6a198-46b1-442e-b0b3-3f2c72f3a771","block_type":"box","text":"Daily prices for each Sub-Fund will be made publicly","page_number":16,"box":{"x":524,"y":849,"width":399,"height":11}},{"id":"c468e704-c5d9-4052-815f-3838b5279a01","block_type":"box","text":"available through the ACS Manager's website,","page_number":16,"box":{"x":523,"y":863,"width":342,"height":11}},{"id":"eda54504-46ad-432e-bc43-f306d51084dd","block_type":"box","text":"https://www.avivainvestors.com/en","page_number":16,"box":{"x":524,"y":876,"width":261,"height":12}},{"id":"f8e93fec-bbb9-4868-993f-41bea181951a","block_type":"box","text":"gb/institutional/fund-centre/tax-transparent.html","page_number":16,"box":{"x":523,"y":890,"width":350,"height":11}},{"id":"fea45c50-621a-475e-8698-783f809e3ed0","block_type":"box","text":",","page_number":16,"box":{"x":875,"y":897,"width":2,"height":3}},{"id":"b1e75088-1e4f-4ef1-b74d-25e295bb126a","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 17","page_number":17,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"e7b7527a-4b48-41f4-9b74-383cc34d47c9","block_type":"box","text":"or by calling its Client Relationship Management Team","page_number":17,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"217dcbc2-76ca-48cb-885a-8c360ff7a2e0","block_type":"box","text":"on 0207 809 8135. Please note that the published","page_number":17,"box":{"x":62,"y":60,"width":399,"height":10}},{"id":"09cdaada-007e-4c7c-a4aa-731de798354b","block_type":"box","text":"prices are for information only and these prices may","page_number":17,"box":{"x":62,"y":73,"width":400,"height":11}},{"id":"0de2c33e-aa16-4283-97f4-8e7b5e6fd94c","block_type":"box","text":"not be the prices obtained when Units are dealt.","page_number":17,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"dcb92635-adf5-46da-9bd5-5fbabe7b9bfc","block_type":"box","text":"Please refer to section 16 for additional information.","page_number":17,"box":{"x":63,"y":100,"width":397,"height":9}},{"id":"aab61137-dd86-49e3-b428-050f51256536","block_type":"box","text":"Telephone calls may be recorded by the ACS","page_number":17,"box":{"x":62,"y":114,"width":399,"height":11}},{"id":"cf4492c2-ffb6-4de2-8304-2b1c2553cbbf","block_type":"box","text":"Manager, its delegates, their duly appointed agents","page_number":17,"box":{"x":63,"y":128,"width":398,"height":11}},{"id":"560a2cca-2947-4bf4-bf1a-d515b9034c32","block_type":"box","text":"and any of their respective related, associated or","page_number":17,"box":{"x":62,"y":141,"width":400,"height":12}},{"id":"9a9e6ce3-ed8e-4adc-bf2e-6902ae8b2396","block_type":"box","text":"affiliated companies for records keeping, security","page_number":17,"box":{"x":62,"y":155,"width":400,"height":11}},{"id":"3d362fec-1b7a-4603-bf20-68138a50ea96","block_type":"box","text":"and/or training purposes, please see the paragraph","page_number":17,"box":{"x":62,"y":169,"width":399,"height":11}},{"id":"f78c7edd-48f6-41f2-adf1-5549d783d9ed","block_type":"box","text":"“Telephone Recording” below for further information.","page_number":17,"box":{"x":62,"y":182,"width":388,"height":12}},{"id":"72ff2c7a-968f-4c58-b390-1b668ca77aee","block_type":"box","text":"The Units in the Sub-Funds of the Scheme are not","page_number":17,"box":{"x":62,"y":202,"width":400,"height":9}},{"id":"ac38196f-6ee0-49a1-8153-4951d4f7c116","block_type":"box","text":"listed or dealt in or on any investment exchange.","page_number":17,"box":{"x":62,"y":216,"width":358,"height":11}},{"id":"907aaf4c-983f-48bc-981f-02cc9fc8ff05","block_type":"box","text":"22. Classes of Units","page_number":17,"box":{"x":74,"y":241,"width":177,"height":9}},{"id":"b1b08b4e-96e3-44f1-a0d7-aeee84151577","block_type":"box","text":"The classes of Units currently available in each Sub","page_number":17,"box":{"x":62,"y":261,"width":399,"height":11}},{"id":"94cea992-8224-43d1-9f40-005dbeb9df02","block_type":"box","text":"Fund are set out in Appendix 1. Each type of Unit","page_number":17,"box":{"x":63,"y":274,"width":399,"height":11}},{"id":"c881aa0e-577b-40b0-9a17-a6db0f1776f4","block_type":"box","text":"represents a beneficial interest in undivided shares in","page_number":17,"box":{"x":63,"y":288,"width":398,"height":11}},{"id":"4440c2f2-c195-4a5c-b5bd-e113ba87224c","block_type":"box","text":"the property of the Scheme as detailed below. Each","page_number":17,"box":{"x":62,"y":302,"width":399,"height":11}},{"id":"33f2a727-5aed-4dcb-a28d-fd3888862da3","block_type":"box","text":"Unit represents one undivided share in the property of","page_number":17,"box":{"x":63,"y":315,"width":399,"height":11}},{"id":"19ade4f6-7a27-4f90-9dbe-d07ff5b6640a","block_type":"box","text":"the relevant Sub-Fund. Each undivided Unit ranks pari","page_number":17,"box":{"x":62,"y":329,"width":399,"height":11}},{"id":"fd599977-4711-4620-85c5-afe5575fd19d","block_type":"box","text":"passu with other undivided Units in a Sub-Fund. The","page_number":17,"box":{"x":62,"y":343,"width":399,"height":11}},{"id":"c276b9e4-02e2-4710-956c-416ed3572da1","block_type":"box","text":"nature of the rights represented by Units is that of a","page_number":17,"box":{"x":62,"y":356,"width":400,"height":12}},{"id":"d1d38dce-f797-4e5a-8ded-c7084a6128cf","block_type":"box","text":"beneficial interest as tenants in common on the terms","page_number":17,"box":{"x":62,"y":370,"width":399,"height":9}},{"id":"cfddb019-c348-4c27-99c9-30314d2019cc","block_type":"box","text":"of the ACS Deed. Unitholders are not liable for the","page_number":17,"box":{"x":62,"y":384,"width":399,"height":8}},{"id":"37f095d5-8d80-4c3b-8981-54677459c81e","block_type":"box","text":"debts of a Sub-Fund. The property of a Sub-Fund must","page_number":17,"box":{"x":62,"y":397,"width":400,"height":11}},{"id":"55aa1b5f-bc18-4f13-9e4d-51af3edadd23","block_type":"box","text":"not be used to discharge any liabilities of, or meet any","page_number":17,"box":{"x":62,"y":411,"width":400,"height":11}},{"id":"a4476675-08b8-4391-8223-bd42a89a6734","block_type":"box","text":"claims against, any person other than the Unitholders","page_number":17,"box":{"x":62,"y":425,"width":399,"height":11}},{"id":"b0f4b58d-d985-4b79-ba79-d5f3103b4d2f","block_type":"box","text":"in that Sub-Fund.","page_number":17,"box":{"x":62,"y":438,"width":127,"height":9}},{"id":"fbabbeb5-ea9c-46d0-a3f7-99f142725575","block_type":"box","text":"Where Accumulation Units are held, any income","page_number":17,"box":{"x":62,"y":458,"width":399,"height":11}},{"id":"1d5b14bb-36f4-4051-a60f-54e6c8968454","block_type":"box","text":"arising in respect of an Accumulation Unit is","page_number":17,"box":{"x":62,"y":471,"width":399,"height":12}},{"id":"d28595f9-e7a1-40b9-b070-868eceea2f5e","block_type":"box","text":"automatically accumulated and is reflected in the price","page_number":17,"box":{"x":62,"y":485,"width":399,"height":11}},{"id":"f5a4d39d-ea2f-4b7e-b1e5-a2f8b29990e6","block_type":"box","text":"of each Accumulation Unit. Allocation of income in","page_number":17,"box":{"x":62,"y":499,"width":399,"height":9}},{"id":"1b0499fc-8b04-4d1b-b491-176c192da624","block_type":"box","text":"respect of Accumulation Units will be transferred to the","page_number":17,"box":{"x":63,"y":513,"width":398,"height":11}},{"id":"7f945df7-0157-41bb-a270-aa9c795a11eb","block_type":"box","text":"capital property of the relevant Sub-Fund within 2","page_number":17,"box":{"x":62,"y":526,"width":399,"height":11}},{"id":"762a5c5c-c18f-409a-a336-6a49c8428979","block_type":"box","text":"months of the end of the Annual Accounting Period to","page_number":17,"box":{"x":62,"y":540,"width":399,"height":11}},{"id":"35a9e4d9-d174-4d95-907e-118fa8866557","block_type":"box","text":"which that income relates, but will be reflected in the","page_number":17,"box":{"x":62,"y":553,"width":399,"height":11}},{"id":"4e35d4d7-2b8b-4995-8484-99f2eda394fe","block_type":"box","text":"capital value of Accumulation Units on the first","page_number":17,"box":{"x":62,"y":567,"width":400,"height":11}},{"id":"bb4de3b7-5977-49ef-8a90-ce1d47b8be1d","block_type":"box","text":"business day following the end of that Annual","page_number":17,"box":{"x":62,"y":581,"width":399,"height":11}},{"id":"ea3c3df5-c00d-415e-a845-b7cbc63c8d91","block_type":"box","text":"Accounting Period.","page_number":17,"box":{"x":62,"y":595,"width":139,"height":11}},{"id":"c2287c1f-b17e-4683-a879-a60b47d98bc1","block_type":"box","text":"Where Income Distribution Units are held, relevant","page_number":17,"box":{"x":62,"y":614,"width":400,"height":10}},{"id":"759bb704-416e-4b40-9853-8c46ad458535","block_type":"box","text":"Unitholders will receive a net distribution payable","page_number":17,"box":{"x":63,"y":628,"width":398,"height":11}},{"id":"4f5beb4c-bef4-45bb-b909-0b3b4c1f140f","block_type":"box","text":"according to the distribution details of the relevant Sub","page_number":17,"box":{"x":62,"y":641,"width":399,"height":12}},{"id":"45e60964-ac96-4a12-b8e3-0b89d7b4d773","block_type":"box","text":"Fund, which are set out in Appendix 1. This distribution","page_number":17,"box":{"x":63,"y":655,"width":398,"height":11}},{"id":"9f48cdf2-80ff-4a17-867c-a6dc5f96831b","block_type":"box","text":"will be automatically reinvested into the relevant Sub","page_number":17,"box":{"x":62,"y":668,"width":399,"height":12}},{"id":"e6e09a23-c292-4a7a-8265-4fbaa2bc13be","block_type":"box","text":"Fund and additional Units will be allocated to each","page_number":17,"box":{"x":63,"y":682,"width":398,"height":9}},{"id":"337416bb-693c-468b-8d51-fb3c3dd5f936","block_type":"box","text":"relevant Unitholder unless the Unitholder agrees with","page_number":17,"box":{"x":63,"y":696,"width":398,"height":11}},{"id":"ba42b8fe-9b40-4c51-a172-583e18b8b895","block_type":"box","text":"the ACS Manager that the distribution is paid directly","page_number":17,"box":{"x":62,"y":710,"width":400,"height":11}},{"id":"88822ca1-6fd5-49f9-8db4-a34a6e2b2419","block_type":"box","text":"into its bank account. This net distribution is calculated","page_number":17,"box":{"x":62,"y":723,"width":399,"height":9}},{"id":"09964ad4-0fbf-4c61-bab9-65bde3d0bac7","block_type":"box","text":"for each Unitholder as a proportion of the income, less","page_number":17,"box":{"x":62,"y":737,"width":399,"height":11}},{"id":"35b66901-c930-4dfc-a683-d536bd4f9928","block_type":"box","text":"expenses and any taxation due, received by the Sub","page_number":17,"box":{"x":62,"y":750,"width":399,"height":12}},{"id":"21747599-f292-4c0f-88b4-cfb427ff8096","block_type":"box","text":"Fund on behalf of each Unitholder. After a period of six","page_number":17,"box":{"x":63,"y":764,"width":399,"height":11}},{"id":"33a65e01-1d1e-491c-92f8-9ba87f7deba5","block_type":"box","text":"years from the date of payment, any unclaimed","page_number":17,"box":{"x":62,"y":778,"width":399,"height":11}},{"id":"7e70a6de-87d7-456e-891d-5b80ffbc1a0e","block_type":"box","text":"distribution will be added to the capital property of the","page_number":17,"box":{"x":62,"y":792,"width":399,"height":11}},{"id":"7515c639-7245-4a3e-9808-6dbf1d4e6a68","block_type":"box","text":"Sub-Fund and may be forfeited. No interest will be paid","page_number":17,"box":{"x":62,"y":805,"width":399,"height":11}},{"id":"5cd8becc-521c-4b41-9011-605fcbcbbca4","block_type":"box","text":"on unclaimed distribution monies.","page_number":17,"box":{"x":62,"y":819,"width":247,"height":9}},{"id":"d59c7a24-972e-45a7-a604-70bcafa37266","block_type":"box","text":"Where both Income Distribution Units and","page_number":17,"box":{"x":62,"y":839,"width":399,"height":8}},{"id":"2e1e10a8-ba87-46c0-99d2-c06806e11253","block_type":"box","text":"Accumulation Units are in existence in relation to a","page_number":17,"box":{"x":62,"y":852,"width":400,"height":9}},{"id":"285305a2-ce19-4aeb-b64d-f8407a78e57b","block_type":"box","text":"Sub-Fund, the relevant Unitholders’ proportionate","page_number":17,"box":{"x":62,"y":866,"width":399,"height":11}},{"id":"26563545-1f13-421f-881b-393d1c297e42","block_type":"box","text":"interests in the Scheme property of the Sub-Fund","page_number":17,"box":{"x":62,"y":879,"width":399,"height":11}},{"id":"bf8b5674-dcba-462a-bdda-2a39e1adc5f9","block_type":"box","text":"represented by each Accumulation Unit increases as","page_number":17,"box":{"x":63,"y":893,"width":398,"height":11}},{"id":"bc5631c7-b9e2-432b-b5ea-1084840ddb53","block_type":"box","text":"income is accumulated. Further, in these","page_number":17,"box":{"x":62,"y":907,"width":399,"height":10}},{"id":"a996d362-9054-423f-ba18-2b3fe576c7e5","block_type":"box","text":"circumstances, the income of the Sub-Fund is","page_number":17,"box":{"x":523,"y":46,"width":400,"height":10}},{"id":"56c75d55-e5c3-43b4-874b-652ff3395807","block_type":"box","text":"allocated between Income Distribution Units and","page_number":17,"box":{"x":523,"y":60,"width":399,"height":8}},{"id":"afbde4f7-2471-4422-8f22-84f22b6cb584","block_type":"box","text":"Accumulation Units according to the relevant","page_number":17,"box":{"x":523,"y":73,"width":400,"height":11}},{"id":"17baf1b2-33c4-4672-88d8-c9f079337a34","block_type":"box","text":"Unitholders’ proportionate interests in the Scheme","page_number":17,"box":{"x":524,"y":87,"width":399,"height":11}},{"id":"2aea746f-1a4d-4845-8f31-4f79b2ad21da","block_type":"box","text":"property of the Sub-Fund represented by the","page_number":17,"box":{"x":524,"y":100,"width":399,"height":11}},{"id":"b4a03e5a-025a-4306-9b7f-9c140b81c357","block_type":"box","text":"Accumulation Units and Income Distribution Units in","page_number":17,"box":{"x":523,"y":114,"width":399,"height":9}},{"id":"1c7a27a4-d7e8-4e40-9bd7-7b29388278ea","block_type":"box","text":"existence at the end of the relevant distribution period.","page_number":17,"box":{"x":523,"y":128,"width":399,"height":11}},{"id":"a60ddcb9-141b-4459-9f85-dfac481efa36","block_type":"box","text":"The ACS Deed of the Scheme also permits further","page_number":17,"box":{"x":523,"y":147,"width":400,"height":11}},{"id":"8742d6b5-6c08-4d10-901a-9d9f09558b8b","block_type":"box","text":"classes of Units to be made available other than those","page_number":17,"box":{"x":523,"y":161,"width":400,"height":9}},{"id":"93c4973d-02f1-41e2-9470-211725416ffc","block_type":"box","text":"currently available. Any such class of Unit may vary","page_number":17,"box":{"x":523,"y":175,"width":400,"height":11}},{"id":"370419ab-c7ca-445b-ad1a-0df90584c79d","block_type":"box","text":"according to whether it accumulates or distributes","page_number":17,"box":{"x":523,"y":188,"width":400,"height":11}},{"id":"9c67df31-833c-4346-85bc-a3350e03a9bc","block_type":"box","text":"income or attracts different fees and expenses, and as","page_number":17,"box":{"x":524,"y":202,"width":399,"height":11}},{"id":"6cb418ab-d243-453d-9ced-e3faec2c82e2","block_type":"box","text":"a result of this, monies may be deducted from classes","page_number":17,"box":{"x":523,"y":216,"width":400,"height":11}},{"id":"111177db-1d00-4185-b2ba-65b6e6296d18","block_type":"box","text":"in unequal proportions. In these circumstances, the","page_number":17,"box":{"x":524,"y":229,"width":399,"height":11}},{"id":"3ed62b69-1496-4759-bc84-35c6c4f4d2c2","block_type":"box","text":"proportionate interests of the classes of Units within a","page_number":17,"box":{"x":524,"y":243,"width":399,"height":11}},{"id":"d9a9d434-c0c6-4cb5-900c-ae88f14aa9cd","block_type":"box","text":"Sub-Fund will be adjusted in accordance with the","page_number":17,"box":{"x":523,"y":256,"width":400,"height":12}},{"id":"b819b21b-ec12-44dc-9a61-7b77c91ceb4e","block_type":"box","text":"provisions of the ACS Deed relating to proportion","page_number":17,"box":{"x":524,"y":270,"width":398,"height":11}},{"id":"b2301b9b-d3f6-43d4-b4c5-bec5797d01b9","block_type":"box","text":"accounts. The Depositary may create one or more","page_number":17,"box":{"x":523,"y":284,"width":400,"height":11}},{"id":"3ca043de-7f77-40c1-b2ce-3aae8911b2c1","block_type":"box","text":"classes of Units as instructed from time to time by the","page_number":17,"box":{"x":523,"y":297,"width":400,"height":12}},{"id":"103b3817-2891-4411-b57a-e0143d9fd511","block_type":"box","text":"ACS Manager. The creation of additional Unit Classes","page_number":17,"box":{"x":523,"y":311,"width":400,"height":11}},{"id":"cd87da9e-da4e-4588-afc0-d04a90a3202e","block_type":"box","text":"will not result in any material prejudice to the interests","page_number":17,"box":{"x":523,"y":325,"width":400,"height":11}},{"id":"43d7e627-c5fb-4fe9-a7b6-07e4739da944","block_type":"box","text":"of holders of Units in existing Unit Classes.","page_number":17,"box":{"x":523,"y":338,"width":317,"height":12}},{"id":"3b3167d7-5d62-426b-a8c1-f360b7914db2","block_type":"box","text":"23. Evidence of Title","page_number":17,"box":{"x":535,"y":364,"width":180,"height":9}},{"id":"3fb5ffed-3f47-4b97-ba70-7649fc2b536d","block_type":"box","text":"No certificates are issued in respect of the Units.","page_number":17,"box":{"x":524,"y":384,"width":398,"height":11}},{"id":"1098a7e1-35ca-449f-8e3d-6f28c399dc19","block_type":"box","text":"Should any Unitholder, for any reason, require","page_number":17,"box":{"x":523,"y":397,"width":400,"height":11}},{"id":"0ac37e48-0c20-4ff7-9528-71b669a01840","block_type":"box","text":"evidence of his title to Units, the ACS Manager shall,","page_number":17,"box":{"x":523,"y":411,"width":399,"height":11}},{"id":"d2854295-9fce-44db-8fd0-6866eb0cd4e2","block_type":"box","text":"upon such Unitholder proof of identity as it shall","page_number":17,"box":{"x":524,"y":425,"width":398,"height":11}},{"id":"77cab034-0f31-4751-8a3f-d35df9744721","block_type":"box","text":"reasonably require, supply the relevant Unitholder with","page_number":17,"box":{"x":524,"y":438,"width":398,"height":11}},{"id":"f9b02bc5-f660-45ab-9bcd-c64a75b69ad0","block_type":"box","text":"a certified copy of the relevant entry in the Register","page_number":17,"box":{"x":523,"y":452,"width":400,"height":11}},{"id":"f52995ad-2e70-4705-ae65-f6a4e253efd7","block_type":"box","text":"relating to their holding of Units.","page_number":17,"box":{"x":524,"y":466,"width":233,"height":11}},{"id":"20b09040-eeec-4109-8033-b828ee2d9ef7","block_type":"box","text":"24. Investment Objectives and Policy, and","page_number":17,"box":{"x":535,"y":491,"width":387,"height":11}},{"id":"c8ebb0ea-3fdf-4d35-bcfd-ccae69121ea6","block_type":"box","text":"Investment Restrictions","page_number":17,"box":{"x":583,"y":505,"width":189,"height":9}},{"id":"8e0dcac7-5787-4b16-aeb7-4c0b5a5ea8b7","block_type":"box","text":"(a)","page_number":17,"box":{"x":536,"y":530,"width":18,"height":11}},{"id":"f97acc8c-30ac-4991-b240-748764028434","block_type":"box","text":"General","page_number":17,"box":{"x":583,"y":530,"width":60,"height":9}},{"id":"62cbcd38-8d53-4425-ab94-509dba5beb80","block_type":"box","text":"The investment objectives and policy of each Sub","page_number":17,"box":{"x":523,"y":550,"width":400,"height":11}},{"id":"f5bddd98-e046-469c-92bd-814d1a4571d0","block_type":"box","text":"Fund is set out in Appendix 1.","page_number":17,"box":{"x":524,"y":564,"width":218,"height":11}},{"id":"f122d4dc-91de-496d-90f0-51aad446aa2a","block_type":"box","text":"In pursuing its investment objective and policy, each","page_number":17,"box":{"x":524,"y":583,"width":398,"height":11}},{"id":"76cf60d9-9dca-4545-ac49-f4d478cdfdec","block_type":"box","text":"Sub-Fund may use the techniques referenced in","page_number":17,"box":{"x":523,"y":597,"width":399,"height":11}},{"id":"78c0f475-eab1-4b43-b4c2-769bc207924e","block_type":"box","text":"Appendix 1, Appendix 6 and in the risk factors set out","page_number":17,"box":{"x":523,"y":610,"width":400,"height":11}},{"id":"3551935c-432a-4950-a51e-b80aa53ecdaa","block_type":"box","text":"in section 26. Other techniques, however, may be","page_number":17,"box":{"x":524,"y":624,"width":399,"height":11}},{"id":"1240aeb2-b56e-416b-9276-abcc093e2de4","block_type":"box","text":"developed or determined to be suitable for use by a","page_number":17,"box":{"x":523,"y":638,"width":400,"height":11}},{"id":"63690753-58ae-4a6a-b648-35d28f70b20c","block_type":"box","text":"Sub-Fund and the ACS Manager may (subject to","page_number":17,"box":{"x":523,"y":651,"width":400,"height":12}},{"id":"2838fdfe-4447-4b1d-9282-c22a666850d1","block_type":"box","text":"applicable law) employ such techniques in accordance","page_number":17,"box":{"x":523,"y":665,"width":400,"height":11}},{"id":"5fb5e512-3a32-4a22-a69b-bfb2ce6280de","block_type":"box","text":"with that Sub-Fund's investment objectives and policy.","page_number":17,"box":{"x":523,"y":679,"width":399,"height":11}},{"id":"df9a22ec-b395-4a7b-8c6f-5fdcfffd7f13","block_type":"box","text":"The definitions ‘primarily’ and ‘predominantly’ used in","page_number":17,"box":{"x":523,"y":698,"width":399,"height":11}},{"id":"a84a7953-c3db-447b-99cc-7c48f22e0cce","block_type":"box","text":"Appendix 1 of this Prospectus follow the guidelines","page_number":17,"box":{"x":523,"y":712,"width":400,"height":11}},{"id":"1a3a15b5-7d88-43ca-84b9-9d2cf644b5f3","block_type":"box","text":"provided by the Depositary and Trustee Association","page_number":17,"box":{"x":524,"y":726,"width":398,"height":11}},{"id":"94eff998-ecf2-4310-af71-dce2d2720064","block_type":"box","text":"research paper of March 2009 and as such indicate","page_number":17,"box":{"x":524,"y":739,"width":399,"height":11}},{"id":"b11abf59-6955-4630-87ad-44d36de06443","block_type":"box","text":"that at least a certain percentage of the assets of the","page_number":17,"box":{"x":523,"y":753,"width":400,"height":11}},{"id":"431e30fa-3ae3-4769-bfbf-4c012fede6ad","block_type":"box","text":"Sub-Fund will be invested in the specified securities.","page_number":17,"box":{"x":523,"y":767,"width":399,"height":11}},{"id":"a13dd11c-19ee-4493-a231-6b7026b4584f","block_type":"box","text":"Reference to ‘primarily’ is 70%, and ‘predominantly’ is","page_number":17,"box":{"x":524,"y":780,"width":399,"height":11}},{"id":"b16d5e44-4387-4f4b-8bee-42d8e418e259","block_type":"box","text":"80%. These percentages have been discussed and","page_number":17,"box":{"x":523,"y":794,"width":399,"height":11}},{"id":"db306104-44c4-4708-9cef-878715c6b572","block_type":"box","text":"agreed with the Investment Managers.","page_number":17,"box":{"x":523,"y":808,"width":284,"height":11}},{"id":"f0affb9b-8fec-4351-8293-048914ce8152","block_type":"box","text":"For those investment objectives in which the term","page_number":17,"box":{"x":524,"y":827,"width":398,"height":11}},{"id":"bf4a46e7-8bad-4e7d-a14e-5c21adf503e3","block_type":"box","text":"‘listed in the UK’ is stated, this means investments in","page_number":17,"box":{"x":524,"y":841,"width":398,"height":10}},{"id":"abf68354-7a43-4917-a4ab-15f5a5077a7d","block_type":"box","text":"companies which are domiciled in the UK, or that have","page_number":17,"box":{"x":523,"y":855,"width":400,"height":10}},{"id":"8bb8bb20-120e-4345-84c9-72cd0aa21784","block_type":"box","text":"a significant proportion of their business in the UK.","page_number":17,"box":{"x":523,"y":868,"width":399,"height":11}},{"id":"73e59754-c47c-4747-8e8a-9637d8ccef40","block_type":"box","text":"Such companies may not necessarily form part of the","page_number":17,"box":{"x":523,"y":882,"width":400,"height":11}},{"id":"4a287699-1c33-4739-9b76-331a40f8a67e","block_type":"box","text":"FTSE All Share Index.","page_number":17,"box":{"x":524,"y":895,"width":163,"height":9}},{"id":"56ed8c3f-fe89-4c17-9d82-cbcd4cd9680e","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 18","page_number":18,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"6db0b6d6-6835-4ed0-ac4b-4ff8c3c0e186","block_type":"box","text":"The investment objectives and/or policy of a Sub-Fund","page_number":18,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"60dfac1a-9b4d-42c6-a9fb-323c64602af1","block_type":"box","text":"may be amended in accordance with the change","page_number":18,"box":{"x":62,"y":60,"width":399,"height":11}},{"id":"034eb8ce-70fb-4c40-952a-374fed965f97","block_type":"box","text":"classification process set out in the COLL Sourcebook.","page_number":18,"box":{"x":62,"y":73,"width":399,"height":11}},{"id":"b88c2b65-982c-49fe-9d1d-987ba447d89a","block_type":"box","text":"See section 31 for further details.","page_number":18,"box":{"x":62,"y":87,"width":244,"height":9}},{"id":"91f63477-939d-405e-a598-5d6a0dea33f2","block_type":"box","text":"The investment restrictions applicable to a particular","page_number":18,"box":{"x":62,"y":106,"width":400,"height":11}},{"id":"3e6d7c9f-4d77-4e6f-b096-76ffbaccd883","block_type":"box","text":"Sub-Fund are set out in Appendix 1. The investment","page_number":18,"box":{"x":62,"y":120,"width":400,"height":11}},{"id":"70895dc6-597c-4a85-afec-662bf201fc01","block_type":"box","text":"restrictions set out in Appendix 6 apply to all Sub","page_number":18,"box":{"x":63,"y":134,"width":398,"height":11}},{"id":"e90a6a23-ca69-479c-aff5-955d3edfc2fc","block_type":"box","text":"Funds.","page_number":18,"box":{"x":63,"y":148,"width":48,"height":8}},{"id":"dfdba8aa-0b3a-400c-96af-d1bde767d718","block_type":"box","text":"(b)","page_number":18,"box":{"x":74,"y":173,"width":19,"height":11}},{"id":"6275d835-bee1-4d8a-9fbd-8a7f11e164ca","block_type":"box","text":"Securities Financing Transactions and","page_number":18,"box":{"x":122,"y":173,"width":339,"height":11}},{"id":"8f5a782c-e18f-4e62-9fc2-cecb1444d79b","block_type":"box","text":"TRS","page_number":18,"box":{"x":121,"y":186,"width":33,"height":9}},{"id":"d6435d86-586c-47c4-aec1-8cc2725d2a8c","block_type":"box","text":"(i) Securities lending","page_number":18,"box":{"x":63,"y":206,"width":151,"height":11}},{"id":"82dc176d-c939-481e-a423-e93e6ece9f75","block_type":"box","text":"Securities lending is an arrangement where the","page_number":18,"box":{"x":62,"y":226,"width":399,"height":11}},{"id":"9e83af71-7242-4388-9a25-0e801c6107ec","block_type":"box","text":"Scheme or the Depositary delivers securities which","page_number":18,"box":{"x":62,"y":239,"width":399,"height":11}},{"id":"ce821b1a-9f9c-4c84-bf8f-8b65146ed29b","block_type":"box","text":"are the subject of the transaction in return for which it","page_number":18,"box":{"x":62,"y":253,"width":400,"height":11}},{"id":"e3f04858-026f-468a-a1b6-a9b038f08405","block_type":"box","text":"is agreed that securities of the same kind and amount","page_number":18,"box":{"x":62,"y":267,"width":400,"height":11}},{"id":"90e54dc3-db11-4acd-8c7e-4b493856d6fe","block_type":"box","text":"be redelivered to the Scheme or the Depositary at a","page_number":18,"box":{"x":62,"y":280,"width":400,"height":11}},{"id":"f1ba21e8-6309-4613-a3fd-a04de2b7c9d3","block_type":"box","text":"later date. The Scheme or the Depositary at the time","page_number":18,"box":{"x":62,"y":294,"width":399,"height":11}},{"id":"35190928-2c2f-4a38-b314-b86a36c7a666","block_type":"box","text":"of delivery receives collateral to cover against the risk","page_number":18,"box":{"x":62,"y":308,"width":400,"height":11}},{"id":"c3957509-464c-4bec-b9cd-6ad123a502c5","block_type":"box","text":"of the future redelivery not being completed.","page_number":18,"box":{"x":62,"y":321,"width":325,"height":11}},{"id":"4288eee6-ba92-47b8-b543-181e91e931d5","block_type":"box","text":"With the exception of the AI Money Market VNAV","page_number":18,"box":{"x":62,"y":341,"width":400,"height":11}},{"id":"1c3c3fc2-3889-4449-86fb-9c0eb8757f2f","block_type":"box","text":"Fund, all Sub-Funds participate in securities lending,","page_number":18,"box":{"x":63,"y":354,"width":397,"height":12}},{"id":"5e8e8de9-da2d-42cf-aea7-a00e1ea981e6","block_type":"box","text":"consequently, the disclosures made below, under","page_number":18,"box":{"x":62,"y":368,"width":400,"height":11}},{"id":"fe4ddadf-33f4-41a6-afe6-f9bbb54d4eee","block_type":"box","text":"Article 14 of the Securities Financing Transaction","page_number":18,"box":{"x":62,"y":382,"width":399,"height":11}},{"id":"b8dad7eb-15c4-4fd6-9a78-76ad4b14c549","block_type":"box","text":"Regulations, have been made only in relation to those","page_number":18,"box":{"x":63,"y":396,"width":398,"height":11}},{"id":"0e7fe7ed-343f-4462-9528-5b10adaf846f","block_type":"box","text":"Sub-Funds participating in securities lending.","page_number":18,"box":{"x":62,"y":409,"width":332,"height":11}},{"id":"36463e59-0144-4e1e-8fdd-1bc782a842e0","block_type":"box","text":"With the exception of the AI Money Market VNAV","page_number":18,"box":{"x":62,"y":429,"width":400,"height":11}},{"id":"fb6b2ed3-45c2-4902-b380-b13c95b109c1","block_type":"box","text":"Fund, the Sub-Funds are permitted to enter into","page_number":18,"box":{"x":63,"y":442,"width":398,"height":11}},{"id":"0d921b9c-bd7b-49ef-9577-a03ae03e0cb3","block_type":"box","text":"securities lending arrangements for the purposes of","page_number":18,"box":{"x":62,"y":456,"width":400,"height":11}},{"id":"fccc08f8-102d-472d-8794-b6705d88c744","block_type":"box","text":"efficient portfolio management.","page_number":18,"box":{"x":62,"y":470,"width":228,"height":11}},{"id":"67002490-62c4-47a2-a466-0842f5ed8741","block_type":"box","text":"Appendix 1 sets out for each Sub-Fund participating in","page_number":18,"box":{"x":62,"y":489,"width":399,"height":11}},{"id":"5476a275-32b8-4d8a-9574-02e3e7b5ddfb","block_type":"box","text":"securities lending:","page_number":18,"box":{"x":62,"y":503,"width":132,"height":11}},{"id":"34237b7f-5b5f-439d-8ee9-d5abf7b519d5","block_type":"box","text":"","page_number":18,"box":{"x":80,"y":527,"width":6,"height":4}},{"id":"57965039-e519-4083-a0fb-530e35b53795","block_type":"box","text":"the types of asset that will be subject to","page_number":18,"box":{"x":109,"y":523,"width":352,"height":12}},{"id":"890703fe-2987-4e61-8249-837be768e662","block_type":"box","text":"securities lending.","page_number":18,"box":{"x":110,"y":537,"width":132,"height":11}},{"id":"5b84922f-85cd-457f-8cd4-cb81210ace01","block_type":"box","text":"","page_number":18,"box":{"x":80,"y":561,"width":6,"height":4}},{"id":"c22759fb-5ebf-4a4e-974e-0a33601f7b0b","block_type":"box","text":"the maximum proportion of assets which may be","page_number":18,"box":{"x":109,"y":558,"width":352,"height":11}},{"id":"ea40efd9-8d2b-4d3f-9fda-b677794f07b1","block_type":"box","text":"subject to securities lending.","page_number":18,"box":{"x":110,"y":571,"width":208,"height":11}},{"id":"3560bddf-6d9b-4179-8550-d1eaf9fabffc","block_type":"box","text":"","page_number":18,"box":{"x":80,"y":595,"width":6,"height":4}},{"id":"8bf64670-c745-4131-bf01-767742fa268d","block_type":"box","text":"the expected proportion of assets which may be","page_number":18,"box":{"x":109,"y":592,"width":352,"height":11}},{"id":"d80eac1d-a19d-47a6-8203-fb0b5f5dfbc9","block_type":"box","text":"subject to securities lending.","page_number":18,"box":{"x":110,"y":605,"width":208,"height":11}},{"id":"790da5c6-ac0d-47e8-825f-ed961cbd69ef","block_type":"box","text":"All counterparties must meet the requirements of the","page_number":18,"box":{"x":62,"y":625,"width":399,"height":11}},{"id":"a969b6c2-a3d8-41cc-879f-bd93bb509115","block_type":"box","text":"COLL Sourcebook in respect of their authorisation,","page_number":18,"box":{"x":62,"y":638,"width":398,"height":11}},{"id":"684166dc-8f26-4164-b210-8701e831d1d1","block_type":"box","text":"supervision or registration. Counterparties must also","page_number":18,"box":{"x":62,"y":652,"width":399,"height":11}},{"id":"2bf4c561-9a59-419d-8948-874649e077ab","block_type":"box","text":"meet certain criteria based upon the Securities","page_number":18,"box":{"x":62,"y":666,"width":399,"height":11}},{"id":"d94fbcd7-aef6-4c8c-88db-e7d111b66a73","block_type":"box","text":"Lending Agent’s Credit Evaluation and Approval","page_number":18,"box":{"x":63,"y":679,"width":398,"height":12}},{"id":"6ae6999d-87a5-4c3c-99b4-b17c3d7bc00e","block_type":"box","text":"process.","page_number":18,"box":{"x":62,"y":695,"width":61,"height":9}},{"id":"d9828c02-612a-4e8d-9fbd-6f0c30dd14aa","block_type":"box","text":"There are no requirements based on legal status or","page_number":18,"box":{"x":62,"y":713,"width":400,"height":11}},{"id":"cf404218-508b-4455-a45c-6dd0c7a324f8","block_type":"box","text":"country of origin but the counterparty must be","page_number":18,"box":{"x":62,"y":726,"width":399,"height":11}},{"id":"1c35d050-4a82-4472-a91f-84abfcee15b2","block_type":"box","text":"domiciled in jurisdictions where the relevant legal","page_number":18,"box":{"x":62,"y":740,"width":399,"height":11}},{"id":"f2a3d2c2-4f3c-4b4c-8ac6-02553f28dfda","block_type":"box","text":"documentation is enforceable.","page_number":18,"box":{"x":62,"y":754,"width":222,"height":8}},{"id":"ede9e040-b1fe-498b-be46-34e231a0b661","block_type":"box","text":"Collateral will meet the requirements of the COLL","page_number":18,"box":{"x":62,"y":773,"width":400,"height":11}},{"id":"71e538ff-feb2-446b-8496-a3d228e661a4","block_type":"box","text":"Sourcebook and will be limited to cash, government","page_number":18,"box":{"x":62,"y":787,"width":400,"height":11}},{"id":"ed967ff7-86e6-4782-be09-92526f8f4077","block_type":"box","text":"and supranational issued collateral restricted to","page_number":18,"box":{"x":62,"y":801,"width":399,"height":11}},{"id":"bec62176-dafb-4b5f-b6d2-029f6b43323e","block_type":"box","text":"issuers located in certain jurisdictions, equities listed","page_number":18,"box":{"x":62,"y":814,"width":399,"height":11}},{"id":"6ffd2e6c-d3d3-4d05-b2cb-80e1b165e685","block_type":"box","text":"on certain indices or markets (agreed between the","page_number":18,"box":{"x":62,"y":828,"width":399,"height":11}},{"id":"c1279bf5-15b9-47ec-8274-29af0f7ffbfa","block_type":"box","text":"ACS Manager, the Depositary and the Securities","page_number":18,"box":{"x":62,"y":841,"width":399,"height":12}},{"id":"e2412410-da86-4491-a4cd-f4ed48df9246","block_type":"box","text":"Lending Agent and set out in the securities lending","page_number":18,"box":{"x":63,"y":855,"width":398,"height":11}},{"id":"1c97ec42-7b1d-4097-9677-c344a7041817","block_type":"box","text":"authorisation agreement entered into between them","page_number":18,"box":{"x":62,"y":869,"width":399,"height":11}},{"id":"1133d3e5-c424-4f78-a19e-08421d096cb2","block_type":"box","text":"(“Securities Lending Authorisation Agreement”))","page_number":18,"box":{"x":63,"y":882,"width":398,"height":12}},{"id":"ba734c47-631b-4b5e-87ed-da675f6d83e7","block_type":"box","text":"(including depositary receipts) and exchange traded","page_number":18,"box":{"x":63,"y":896,"width":398,"height":11}},{"id":"7e70fa67-adc9-4dd6-9b60-74b454dd579e","block_type":"box","text":"funds listed on major global regulated markets or a","page_number":18,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"41910ae9-f627-484d-8c2d-3f0fb092d3a0","block_type":"box","text":"multilateral trading facility.","page_number":18,"box":{"x":524,"y":59,"width":190,"height":12}},{"id":"cfc222b9-a30f-41a1-93b6-7b747598595f","block_type":"box","text":"Collateral must be liquid (as set out in the COLL","page_number":18,"box":{"x":523,"y":79,"width":400,"height":11}},{"id":"12561429-f10f-4b47-bf58-736f651d4554","block_type":"box","text":"Sourcebook). No additional liquidity or maturity limits","page_number":18,"box":{"x":523,"y":93,"width":400,"height":11}},{"id":"024c9b00-3bbc-4151-bbf5-9650dcbfd1d8","block_type":"box","text":"(beyond limits on the type of collateral accepted) are","page_number":18,"box":{"x":524,"y":106,"width":399,"height":11}},{"id":"09e53bb9-e19a-42ea-b190-fffcdc6efd0e","block_type":"box","text":"applied in relation to collateral received","page_number":18,"box":{"x":523,"y":120,"width":289,"height":11}},{"id":"22376970-004d-4ed4-992e-d4b8e05fc69c","block_type":"box","text":".","page_number":18,"box":{"x":814,"y":127,"width":3,"height":2}},{"id":"8918af2c-77f2-4607-b5b7-fa40bafc0817","block_type":"box","text":"Collateral will be issued by the counterparty in line with","page_number":18,"box":{"x":523,"y":139,"width":399,"height":12}},{"id":"7ca0e6f8-2513-4273-820b-fa617e3f1b38","block_type":"box","text":"the requirements of the COLL Sourcebook. The","page_number":18,"box":{"x":523,"y":153,"width":400,"height":11}},{"id":"4f5c1bf1-3757-45d0-a5a9-6ca93ffe584f","block_type":"box","text":"Securities Lending Agent will not accept any securities","page_number":18,"box":{"x":523,"y":167,"width":400,"height":11}},{"id":"8978d5ba-3a6d-4ec8-bcbb-cc5b1e466518","block_type":"box","text":"issued by Aviva Plc or the Securities Lending Agent,","page_number":18,"box":{"x":524,"y":180,"width":398,"height":12}},{"id":"df427249-28d6-4b33-89ee-2af0cc0674ce","block_type":"box","text":"or their respective affiliated companies, and will also","page_number":18,"box":{"x":523,"y":194,"width":400,"height":11}},{"id":"ce2a26fd-0066-4656-b547-5c33ad1c0ed0","block_type":"box","text":"not accept collateral where the issuer is a related party","page_number":18,"box":{"x":524,"y":208,"width":399,"height":11}},{"id":"d256fa07-d867-4ad1-934a-f58abf23ac55","block_type":"box","text":"of the counterparty.","page_number":18,"box":{"x":523,"y":221,"width":143,"height":12}},{"id":"a632a8fe-d06e-4cb5-a9e6-3f284313d24a","block_type":"box","text":"Collateral will adequately cover securities lent under","page_number":18,"box":{"x":523,"y":241,"width":400,"height":11}},{"id":"d2bcf4f0-db09-464b-91da-b5b3af7d4a2a","block_type":"box","text":"any Securities Lending Transactions and will continue","page_number":18,"box":{"x":523,"y":255,"width":400,"height":11}},{"id":"d3cc8a6f-1f24-45ce-88f8-66c19ea0f757","block_type":"box","text":"to be adequate only if its value is at all times at least","page_number":18,"box":{"x":523,"y":268,"width":400,"height":12}},{"id":"2d0346cf-7b83-498d-bac5-6b3b16e636bd","block_type":"box","text":"equal to the value of the securities transferred by the","page_number":18,"box":{"x":523,"y":282,"width":400,"height":11}},{"id":"ceefb8c9-344c-46ec-98bf-7b8f47b12c5a","block_type":"box","text":"Securities Lending Agent.","page_number":18,"box":{"x":523,"y":296,"width":190,"height":11}},{"id":"339b71bb-a106-48ff-aa3b-cd3116f9e70e","block_type":"box","text":"The collateral received is valued daily on a mark-to","page_number":18,"box":{"x":523,"y":315,"width":400,"height":11}},{"id":"fa5b330f-5e31-4ae1-aac2-73c9761b4f47","block_type":"box","text":"market basis. As the types of collateral accepted are","page_number":18,"box":{"x":524,"y":329,"width":399,"height":11}},{"id":"b646be6f-dded-4504-90da-73fd0c65a05e","block_type":"box","text":"liquid with publicly available prices, a mark-to-market","page_number":18,"box":{"x":524,"y":343,"width":399,"height":11}},{"id":"ea028ba8-963b-4cbc-b215-4ecb942272ba","block_type":"box","text":"basis gives the best valuation. A haircut (a deduction","page_number":18,"box":{"x":524,"y":356,"width":398,"height":12}},{"id":"79d32202-7e4e-4040-b7a9-ebedc97fceaf","block_type":"box","text":"to the valuation) is applied to the value of the collateral","page_number":18,"box":{"x":523,"y":370,"width":399,"height":11}},{"id":"870b7638-f200-4955-833c-53323bd43c5b","block_type":"box","text":"depending on the type of collateral received and","page_number":18,"box":{"x":523,"y":384,"width":399,"height":11}},{"id":"70104718-d448-4e81-9827-1376b8fc546b","block_type":"box","text":"positions will be subject to daily variation margin","page_number":18,"box":{"x":524,"y":397,"width":398,"height":11}},{"id":"d621fc1d-33f6-4505-a5a3-7d3ac821ccff","block_type":"box","text":"requirements.","page_number":18,"box":{"x":524,"y":411,"width":100,"height":11}},{"id":"72656e20-7e43-4f67-9394-66878319f322","block_type":"box","text":"All transactions are governed by industry standard","page_number":18,"box":{"x":523,"y":431,"width":399,"height":11}},{"id":"4da4935b-c198-49d5-b718-f39d61035987","block_type":"box","text":"documentation. The assets that may be subject to","page_number":18,"box":{"x":523,"y":444,"width":400,"height":11}},{"id":"6fc7e582-c3bb-4209-a899-546d969714da","block_type":"box","text":"securities lending and all collateral received is held","page_number":18,"box":{"x":523,"y":458,"width":399,"height":11}},{"id":"a6d093f8-2c4f-4c2c-89a9-8849293bce25","block_type":"box","text":"under the control of the Depositary for the benefit of","page_number":18,"box":{"x":524,"y":471,"width":399,"height":12}},{"id":"a9acc736-40c2-4635-ac30-f26ae016732d","block_type":"box","text":"the underlying Sub-Fund.","page_number":18,"box":{"x":523,"y":485,"width":187,"height":11}},{"id":"357a5da3-e62c-4ccf-ac69-709791f0728f","block_type":"box","text":"Collateral may not be re-used, sold, re-invested or","page_number":18,"box":{"x":523,"y":505,"width":400,"height":11}},{"id":"f4e13385-4aa9-4f94-b4fb-3b7137771224","block_type":"box","text":"pledged by the Securities Lending Agent unless","page_number":18,"box":{"x":524,"y":518,"width":399,"height":12}},{"id":"c586f230-498a-46e7-91d0-d783d5f29fcd","block_type":"box","text":"agreed by the ACS Manager. Cash collateral","page_number":18,"box":{"x":523,"y":532,"width":399,"height":11}},{"id":"c321d2b0-c2c7-491c-931e-b99b98044b9c","block_type":"box","text":"investment or reinvestment is not permitted, save that","page_number":18,"box":{"x":524,"y":546,"width":399,"height":11}},{"id":"796c2048-90b4-4fcd-a03d-d1b38556d540","block_type":"box","text":"cash collateral can be re-invested by way of a repo","page_number":18,"box":{"x":523,"y":559,"width":400,"height":12}},{"id":"047fadf8-9e19-46b8-9d2f-7c42f900726e","block_type":"box","text":"contract.","page_number":18,"box":{"x":523,"y":574,"width":63,"height":8}},{"id":"7bf27559-0c9d-4785-b1c1-c9324bc64e98","block_type":"box","text":"Any income generated from stock lending will be","page_number":18,"box":{"x":523,"y":593,"width":400,"height":11}},{"id":"ef6b9b05-0eb8-461a-8dfa-36f37a1de30b","block_type":"box","text":"allocated between the relevant Sub-Fund and the","page_number":18,"box":{"x":523,"y":606,"width":400,"height":9}},{"id":"fda6887a-5153-423d-9218-8392a08a124b","block_type":"box","text":"Securities Lending Agent. For each Sub-Fund","page_number":18,"box":{"x":523,"y":620,"width":399,"height":11}},{"id":"f372dca0-622d-4f37-9ef3-3e9092b3e211","block_type":"box","text":"operating securities lending, the Securities Lending","page_number":18,"box":{"x":523,"y":634,"width":399,"height":11}},{"id":"d1cd5ce4-c6d4-4c8b-a83d-cc929a713c92","block_type":"box","text":"agent is permitted to deduct a monthly fee equating to","page_number":18,"box":{"x":523,"y":647,"width":400,"height":11}},{"id":"9773b9eb-b765-4018-9ff4-6b9e858a02cf","block_type":"box","text":"20 per cent of the Securities Lending income","page_number":18,"box":{"x":523,"y":661,"width":400,"height":11}},{"id":"33dce068-3b99-429e-bb6e-427cbfe8ac1f","block_type":"box","text":"generated for that Sub-Fund. The fee will be charged","page_number":18,"box":{"x":523,"y":674,"width":399,"height":12}},{"id":"055a36df-b42d-4a1e-8972-1134cd79e4eb","block_type":"box","text":"to the relevant Sub-Fund each month in respect of the","page_number":18,"box":{"x":523,"y":688,"width":400,"height":11}},{"id":"4dbf45b8-c55d-4e2a-ae62-88594e63f1ff","block_type":"box","text":"Securities Lending activity from the preceding month.","page_number":18,"box":{"x":523,"y":702,"width":399,"height":11}},{"id":"082957a2-7aa6-408f-a249-2fe4d64776a2","block_type":"box","text":"No Securities Lending Agent fee will be deducted from","page_number":18,"box":{"x":524,"y":715,"width":398,"height":12}},{"id":"e0dcf8a9-78ce-4218-9869-bc258a1fb706","block_type":"box","text":"the Scheme Property if no revenue from securities","page_number":18,"box":{"x":523,"y":729,"width":400,"height":11}},{"id":"16e3678d-31e3-476d-b13e-ebd823851b8b","block_type":"box","text":"lending activity has been generated in the preceding","page_number":18,"box":{"x":524,"y":743,"width":398,"height":11}},{"id":"85f5d4e5-b348-4b7c-8502-e72db23ddb55","block_type":"box","text":"month. No additional fee will be charged by the ACS","page_number":18,"box":{"x":524,"y":756,"width":399,"height":12}},{"id":"5092f5ef-d464-4989-8d64-34ff2fdce268","block_type":"box","text":"Manager.","page_number":18,"box":{"x":524,"y":770,"width":68,"height":11}},{"id":"71fb1ed1-405d-4813-9151-bb80fbbeb6ed","block_type":"box","text":"(ii) TRS","page_number":18,"box":{"x":524,"y":790,"width":61,"height":11}},{"id":"cde73bdc-4759-4886-87ec-770e141cd38b","block_type":"box","text":"A TRS is a swap agreement in which one party makes","page_number":18,"box":{"x":523,"y":809,"width":400,"height":12}},{"id":"604d68fe-f8a0-494b-8187-232066effcc7","block_type":"box","text":"payments based on a set rate, either fixed or variable,","page_number":18,"box":{"x":524,"y":823,"width":398,"height":11}},{"id":"74e7d9ce-13d6-4a31-8241-c831659250ed","block_type":"box","text":"while the other party makes payments based on the","page_number":18,"box":{"x":523,"y":837,"width":400,"height":11}},{"id":"d8732e4c-9037-41dc-a68d-8457b639daab","block_type":"box","text":"return of an underlying asset. The AI Balanced","page_number":18,"box":{"x":524,"y":850,"width":398,"height":11}},{"id":"13419af0-cf00-4408-bb77-19499be653e1","block_type":"box","text":"Pension Fund, AI Balanced Life Fund and AI Cautious","page_number":18,"box":{"x":524,"y":864,"width":399,"height":10}},{"id":"d234684a-2524-44b0-aa87-2bd1e36ced26","block_type":"box","text":"Pension Fund are permitted to use TRS for investment","page_number":18,"box":{"x":524,"y":878,"width":399,"height":11}},{"id":"e6657260-f41f-414e-8e7c-199faddfd42d","block_type":"box","text":"purposes, or for efficient portfolio management, or to","page_number":18,"box":{"x":524,"y":891,"width":399,"height":12}},{"id":"7b1d9f7e-dbd3-4803-82b6-d6b24a364323","block_type":"box","text":"reduce risk. The Core Funds are permitted to use TRS","page_number":18,"box":{"x":524,"y":905,"width":399,"height":11}},{"id":"18cc097d-883c-4a0a-9d92-1bfdc4fd37f6","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 19","page_number":19,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"7c208607-993a-4c9b-97f7-34b9006fff93","block_type":"box","text":"for efficient portfolio management, or to reduce risk.","page_number":19,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"ae999815-dbab-489b-8aee-28397ea71fc2","block_type":"box","text":"TRS may be used to gain exposure to asset class","page_number":19,"box":{"x":62,"y":59,"width":399,"height":12}},{"id":"f781befd-0b11-4f96-be19-16be726de755","block_type":"box","text":"sectors or strategies that the Investment Manager","page_number":19,"box":{"x":62,"y":73,"width":400,"height":11}},{"id":"698791c9-f2a8-4cc1-986c-6d027beb4ede","block_type":"box","text":"believes that they cannot access effectively through","page_number":19,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"e0a0101c-4039-4417-a821-cef5c7a24209","block_type":"box","text":"physical securities or exchange-traded derivatives","page_number":19,"box":{"x":62,"y":100,"width":399,"height":12}},{"id":"9021f1d0-a45e-4886-bfaa-eda825efdf60","block_type":"box","text":"such as futures contracts.","page_number":19,"box":{"x":62,"y":114,"width":189,"height":9}},{"id":"85740959-01dc-43a8-ac3c-432a5d349c38","block_type":"box","text":"Please refer to Appendix 1 which sets out for each of","page_number":19,"box":{"x":63,"y":134,"width":399,"height":11}},{"id":"09b313ee-5310-4e54-8cf0-d612855bedb8","block_type":"box","text":"these Sub-Funds:","page_number":19,"box":{"x":62,"y":147,"width":130,"height":9}},{"id":"1f888326-c9bf-4c9a-bf40-00140d21279b","block_type":"box","text":"","page_number":19,"box":{"x":62,"y":171,"width":6,"height":4}},{"id":"1be8c555-85b4-4372-814d-c28d95f8d916","block_type":"box","text":"The types of assets which may be subject to TRS","page_number":19,"box":{"x":92,"y":168,"width":367,"height":11}},{"id":"d8dcab76-05d8-4224-9e78-3a28d790361e","block_type":"box","text":"","page_number":19,"box":{"x":62,"y":191,"width":6,"height":5}},{"id":"ff9db116-8443-4040-b42c-7875fd142f75","block_type":"box","text":"the maximum proportion of assets which may be","page_number":19,"box":{"x":97,"y":188,"width":365,"height":11}},{"id":"f8a320d1-f99c-47eb-869c-c995a6d2cb6b","block_type":"box","text":"subject to TRS","page_number":19,"box":{"x":98,"y":202,"width":109,"height":11}},{"id":"97a00f3e-6241-4ea6-9bc1-07aa082acab5","block_type":"box","text":"","page_number":19,"box":{"x":62,"y":225,"width":6,"height":5}},{"id":"67761e29-d45e-494f-9a75-5f79b4841c65","block_type":"box","text":"the expected proportion of assets which may be","page_number":19,"box":{"x":92,"y":222,"width":369,"height":11}},{"id":"8a2ebbae-3b83-43a2-9c05-8f2a9e62945a","block_type":"box","text":"subject to TRS","page_number":19,"box":{"x":92,"y":236,"width":109,"height":11}},{"id":"934f6888-fb26-4f80-afa4-2a0a3c7e9017","block_type":"box","text":"Accordingly, the disclosures made below under Article","page_number":19,"box":{"x":62,"y":256,"width":399,"height":11}},{"id":"5762ed7b-d681-4e3f-b9eb-d1b2ad8418b4","block_type":"box","text":"14 of the Securities Financing Transaction Regulations","page_number":19,"box":{"x":63,"y":269,"width":398,"height":11}},{"id":"8cfc9bd8-f647-45a4-b666-e1df0935c51e","block_type":"box","text":"have been made only in respect of the Sub-Funds","page_number":19,"box":{"x":62,"y":283,"width":399,"height":11}},{"id":"1bd308f3-9396-4c56-af0e-9c34c9c49ae9","block_type":"box","text":"permitted to use TRS as listed above.","page_number":19,"box":{"x":62,"y":296,"width":278,"height":11}},{"id":"76a8929c-2d1b-4c46-8cc5-2eded9eb8fdd","block_type":"box","text":"All counterparties must meet certain criteria based","page_number":19,"box":{"x":62,"y":316,"width":399,"height":11}},{"id":"3375eedb-c926-4f4c-8f0c-e22cbc550130","block_type":"box","text":"upon their credit rating, and Schroders usually","page_number":19,"box":{"x":63,"y":330,"width":399,"height":11}},{"id":"ed579844-aa5a-4ed0-b074-2cfa0ccba2d4","block_type":"box","text":"transacts TRS with counterparties with a minimum","page_number":19,"box":{"x":62,"y":343,"width":399,"height":11}},{"id":"093a3dd1-c6ba-4c68-a78d-bdd2da920f1b","block_type":"box","text":"rating of BBB or equivalent.","page_number":19,"box":{"x":63,"y":357,"width":201,"height":11}},{"id":"99703d6f-86b0-42e8-9ee4-7cf71787782d","block_type":"box","text":"There are no requirements based on legal status or","page_number":19,"box":{"x":62,"y":377,"width":400,"height":11}},{"id":"8dfa8cef-abef-46b1-b018-5e8414d16c51","block_type":"box","text":"country of origin, but the counterparty must be","page_number":19,"box":{"x":62,"y":390,"width":399,"height":11}},{"id":"1a7c9d30-2364-40f3-ba7c-20daa0acea5f","block_type":"box","text":"domiciled in jurisdictions where the relevant legal","page_number":19,"box":{"x":62,"y":404,"width":399,"height":11}},{"id":"67068099-4e42-4a8d-95a7-92ab71c65c85","block_type":"box","text":"documentation is enforceable.","page_number":19,"box":{"x":62,"y":417,"width":222,"height":9}},{"id":"f58d61d0-e6b4-43a5-b57d-c6092ca9113b","block_type":"box","text":"Collateral is limited to UK Government debt and cash.","page_number":19,"box":{"x":62,"y":437,"width":398,"height":9}},{"id":"cecf8875-2621-4c94-92cd-c998b2c95daf","block_type":"box","text":"No liquidity limits (beyond limits on the type of","page_number":19,"box":{"x":63,"y":457,"width":399,"height":11}},{"id":"651efd76-9b4a-4a44-83ef-106e1e288ef2","block_type":"box","text":"collateral accepted) are applied in relation to collateral","page_number":19,"box":{"x":62,"y":470,"width":399,"height":11}},{"id":"382dbb9a-356e-4475-b29e-c11980558eb5","block_type":"box","text":"received. However, maturity limits are applied in","page_number":19,"box":{"x":63,"y":484,"width":398,"height":11}},{"id":"055d7b93-90cc-4c2c-8a02-2b4f3409bdb6","block_type":"box","text":"relation to the collateral received across the selection","page_number":19,"box":{"x":63,"y":498,"width":398,"height":8}},{"id":"ee01ebc9-5ae4-4fa7-a34d-78badc8c8130","block_type":"box","text":"of counterparties available, this will range from 50","page_number":19,"box":{"x":62,"y":511,"width":399,"height":12}},{"id":"aaf169ea-b94b-4e27-b2a3-9af979876e97","block_type":"box","text":"years to no maturity","page_number":19,"box":{"x":62,"y":525,"width":146,"height":11}},{"id":"da4b4cc5-960f-48d7-8e89-696df99c2b7a","block_type":"box","text":".","page_number":19,"box":{"x":210,"y":532,"width":2,"height":2}},{"id":"163d6503-54cf-4ed0-a171-2b20833bfc0d","block_type":"box","text":"Collateral will be issued by an entity independent from","page_number":19,"box":{"x":62,"y":544,"width":399,"height":12}},{"id":"f0ffd56d-9a65-445b-807b-cf8b565e4d28","block_type":"box","text":"the counterparty and is not expected to display a high","page_number":19,"box":{"x":62,"y":558,"width":399,"height":11}},{"id":"c9d672e5-7e0d-4b09-b670-068c394bde7e","block_type":"box","text":"correlation with the performance of the counterparty.","page_number":19,"box":{"x":62,"y":572,"width":399,"height":11}},{"id":"03630823-b1a6-487f-ac52-9b340f6567a1","block_type":"box","text":"Collateral will be sufficiently diversified in terms of UK","page_number":19,"box":{"x":62,"y":585,"width":400,"height":12}},{"id":"bf79a5b4-b712-413b-9306-3881ae38a08f","block_type":"box","text":"Government Debt issues.","page_number":19,"box":{"x":62,"y":599,"width":187,"height":9}},{"id":"a6540f6b-da2d-4442-99f0-86c6b25acf9d","block_type":"box","text":"The collateral received is valued daily on a mark-to","page_number":19,"box":{"x":62,"y":619,"width":399,"height":11}},{"id":"8e558e8e-d6fd-4297-99d9-928a114d204b","block_type":"box","text":"market basis. As the types of collateral accepted are","page_number":19,"box":{"x":62,"y":632,"width":399,"height":12}},{"id":"e7ef91ee-e744-4fb3-a2c2-30e94dab7fca","block_type":"box","text":"liquid with publicly available prices, a mark-to-market","page_number":19,"box":{"x":62,"y":646,"width":400,"height":11}},{"id":"f580cecf-b308-4d42-aa8d-b21af19cb6aa","block_type":"box","text":"basis gives the best valuation. A haircut (a deduction","page_number":19,"box":{"x":62,"y":660,"width":399,"height":11}},{"id":"72d2e481-f994-4fb1-8cbb-06c941946140","block_type":"box","text":"to the valuation) is applied to the value of the collateral","page_number":19,"box":{"x":62,"y":673,"width":399,"height":11}},{"id":"4aeca646-f637-4efb-98b2-1c0c417d7f8f","block_type":"box","text":"depending on the type of collateral received and","page_number":19,"box":{"x":62,"y":687,"width":399,"height":11}},{"id":"4d55ecf3-fca3-49b0-95b2-3dbe6f78eec7","block_type":"box","text":"positions will be subject to daily variation margin","page_number":19,"box":{"x":62,"y":701,"width":399,"height":11}},{"id":"ac56a72b-852f-4e1e-978a-a4df40db210e","block_type":"box","text":"requirements.","page_number":19,"box":{"x":63,"y":715,"width":100,"height":10}},{"id":"1dd8f5df-b06a-48b1-aff0-e7363716a97d","block_type":"box","text":"All transactions are governed by industry standard","page_number":19,"box":{"x":62,"y":734,"width":399,"height":11}},{"id":"1e8792d9-843c-4ead-a751-5e30462c43bc","block_type":"box","text":"documentation, which currently provides for the title","page_number":19,"box":{"x":62,"y":748,"width":399,"height":11}},{"id":"51dca838-b1ee-4b87-b89d-74a094124928","block_type":"box","text":"transfer of collateral securities. The assets that may be","page_number":19,"box":{"x":62,"y":761,"width":399,"height":11}},{"id":"1506b7b2-8522-4f18-b063-5a2a26f5e989","block_type":"box","text":"subject to TRS and all collateral received is held under","page_number":19,"box":{"x":62,"y":775,"width":400,"height":11}},{"id":"3ddd3905-76c0-4bb7-aabc-95cebddeb5cc","block_type":"box","text":"the control of the Depositary for the benefit of the","page_number":19,"box":{"x":62,"y":789,"width":399,"height":11}},{"id":"7f53f5d0-cb65-4471-ba8c-9c564deb7d69","block_type":"box","text":"underlying Sub-Fund.","page_number":19,"box":{"x":63,"y":802,"width":157,"height":11}},{"id":"a7f26758-8837-450e-a2ca-aa54392cbb33","block_type":"box","text":"Neither security or cash collateral will be reused or","page_number":19,"box":{"x":63,"y":828,"width":399,"height":11}},{"id":"c66c239d-34a2-4a85-82ad-b08d561835c4","block_type":"box","text":"reinvested.","page_number":19,"box":{"x":63,"y":842,"width":79,"height":8}},{"id":"79e27699-b320-489b-92e9-9e7bfd46489e","block_type":"box","text":"The whole of any returns generated are credited to the","page_number":19,"box":{"x":62,"y":867,"width":400,"height":11}},{"id":"01cfe326-5807-44fe-8587-cb270438a5fb","block_type":"box","text":"relevant Sub-Fund and no costs or fees are assigned","page_number":19,"box":{"x":63,"y":881,"width":398,"height":11}},{"id":"d813c4de-a897-4415-96a8-02790758644c","block_type":"box","text":"to the ACS Manager or third parties.","page_number":19,"box":{"x":62,"y":894,"width":267,"height":12}},{"id":"9d715478-256e-422b-97af-84489e369878","block_type":"box","text":"(iii) Repo contracts","page_number":19,"box":{"x":63,"y":914,"width":139,"height":11}},{"id":"27bb8bf8-8e52-492d-99c9-f1a31e520428","block_type":"box","text":"A repo contract is an agreement between a seller and","page_number":19,"box":{"x":523,"y":46,"width":399,"height":11}},{"id":"2880805c-acc2-4635-a623-1888cc2b1fb3","block_type":"box","text":"a buyer for the purchase or sale of securities, in","page_number":19,"box":{"x":523,"y":59,"width":399,"height":12}},{"id":"6ca5c5bd-786f-447c-913e-cef2375e7191","block_type":"box","text":"exchange for cash, where the buyer agrees to resell","page_number":19,"box":{"x":523,"y":73,"width":399,"height":11}},{"id":"e9192d6a-99eb-4f4a-8313-7d1bee0dbf82","block_type":"box","text":"the securities or equivalent securities, at an agreed","page_number":19,"box":{"x":523,"y":87,"width":399,"height":11}},{"id":"ca65b978-73b0-4068-87a2-d137c447945b","block_type":"box","text":"date and, usually, at a stated price.","page_number":19,"box":{"x":523,"y":100,"width":258,"height":11}},{"id":"0f108abd-ee65-4e99-9f87-dd534eb2e23f","block_type":"box","text":"With the exception of the AI Money Market VNAV","page_number":19,"box":{"x":523,"y":120,"width":400,"height":11}},{"id":"393ce3d4-cc8a-4d7a-9bd7-07612c8e4931","block_type":"box","text":"Fund, all Sub-Funds may enter in repo contracts,","page_number":19,"box":{"x":524,"y":134,"width":398,"height":11}},{"id":"0d5ae9c2-69c0-4759-9957-f51bb5054ebf","block_type":"box","text":"consequently, the disclosures made below, under","page_number":19,"box":{"x":523,"y":147,"width":400,"height":11}},{"id":"886b0245-823d-47f0-90b8-bb5c725d84a9","block_type":"box","text":"Article 14 of the Securities Financing Transaction","page_number":19,"box":{"x":523,"y":161,"width":399,"height":11}},{"id":"d82d4288-46d5-45c5-b4fb-3f4f2d0a1c08","block_type":"box","text":"Regulations, have been made only in relation to those","page_number":19,"box":{"x":524,"y":175,"width":399,"height":11}},{"id":"fd5a3eb3-678c-4cbc-a461-886a24ed9029","block_type":"box","text":"Sub-Funds entering into repo contracts.","page_number":19,"box":{"x":523,"y":188,"width":293,"height":11}},{"id":"5f3d6d6b-b56e-4ab1-9572-81ee74340502","block_type":"box","text":"With the exception of the AI Money Market VNAV","page_number":19,"box":{"x":523,"y":208,"width":400,"height":11}},{"id":"557c5af5-3af2-4881-8e4e-533c6d01b0bb","block_type":"box","text":"Fund, the Sub-Funds are permitted to enter into repo","page_number":19,"box":{"x":524,"y":221,"width":399,"height":12}},{"id":"e8dab67d-1b6b-4872-85e7-ac435369a795","block_type":"box","text":"contracts for the purposes of efficient portfolio","page_number":19,"box":{"x":523,"y":235,"width":400,"height":11}},{"id":"f70ea12a-c909-487b-b7f6-1ac55229aab0","block_type":"box","text":"management.","page_number":19,"box":{"x":524,"y":250,"width":100,"height":10}},{"id":"fdd67be1-3cfb-4902-b4ee-bdf47d4841ee","block_type":"box","text":"Appendix 1 sets out for each Sub-Fund entering into","page_number":19,"box":{"x":523,"y":268,"width":400,"height":12}},{"id":"fd872c12-5f89-46da-9ff7-021fbe66f87c","block_type":"box","text":"repo contracts:","page_number":19,"box":{"x":524,"y":283,"width":108,"height":10}},{"id":"99b58cd5-e28e-4740-99c8-dccf58ed0b18","block_type":"box","text":"","page_number":19,"box":{"x":541,"y":306,"width":6,"height":4}},{"id":"a5129c02-b5d5-4a76-958c-b7b10fc5002a","block_type":"box","text":"the types of asset that will be the subject of a","page_number":19,"box":{"x":570,"y":303,"width":353,"height":11}},{"id":"077df212-3d24-49a2-857f-0d7db8b5725c","block_type":"box","text":"repo contract.","page_number":19,"box":{"x":572,"y":317,"width":99,"height":10}},{"id":"ca36b71d-a596-4ba5-a934-80ebf4a28a9a","block_type":"box","text":"","page_number":19,"box":{"x":541,"y":340,"width":6,"height":4}},{"id":"f3a31f4e-fc30-4300-aebe-c9ebb41beb14","block_type":"box","text":"the maximum proportion of assets which may be","page_number":19,"box":{"x":570,"y":337,"width":353,"height":11}},{"id":"c05211ef-f19a-4062-8540-b7d815ee2d97","block_type":"box","text":"the subject of a repo contract.","page_number":19,"box":{"x":570,"y":350,"width":220,"height":11}},{"id":"86be8228-9a0c-4eb7-912c-200545125071","block_type":"box","text":"","page_number":19,"box":{"x":541,"y":374,"width":6,"height":4}},{"id":"8cd8e696-f9bc-4220-90c4-5bc35dfdce40","block_type":"box","text":"the expected proportion of assets which may be","page_number":19,"box":{"x":570,"y":371,"width":353,"height":11}},{"id":"5d01642f-9e46-4649-9c47-4a13ed2f0cbf","block_type":"box","text":"the subject of a repo contract.","page_number":19,"box":{"x":570,"y":384,"width":220,"height":11}},{"id":"6c503f81-dd87-4889-a1e7-0bf5fce70bc3","block_type":"box","text":"All counterparties must meet the requirements of the","page_number":19,"box":{"x":523,"y":404,"width":400,"height":11}},{"id":"8ccb44fd-a06e-48b9-975e-59bcbc4a12d4","block_type":"box","text":"COLL Sourcebook in respect of their authorisation,","page_number":19,"box":{"x":523,"y":417,"width":399,"height":12}},{"id":"c525d181-1ada-402e-80ab-ae465a5d061f","block_type":"box","text":"supervision or registration. Counterparties must also","page_number":19,"box":{"x":523,"y":431,"width":400,"height":11}},{"id":"cfee8ec2-3bfb-4567-a6d4-3d7f9e15875a","block_type":"box","text":"meet certain criteria based upon the Securities","page_number":19,"box":{"x":524,"y":445,"width":399,"height":11}},{"id":"06a3cb2f-66f1-4454-8266-69153b9ec500","block_type":"box","text":"Lending Agent’s Credit Evaluation and Approval","page_number":19,"box":{"x":524,"y":458,"width":398,"height":12}},{"id":"f3fcd2b4-2a6f-4f9c-868e-27f45ca4aae3","block_type":"box","text":"process.","page_number":19,"box":{"x":524,"y":474,"width":61,"height":9}},{"id":"b90d40ad-65a2-4ea9-96c4-aff6f7230ddf","block_type":"box","text":"There are no requirements based on legal status or","page_number":19,"box":{"x":523,"y":492,"width":400,"height":11}},{"id":"07212428-deb9-48c0-966e-b4ab9e887a9f","block_type":"box","text":"country of origin but the counterparty must be","page_number":19,"box":{"x":523,"y":505,"width":400,"height":12}},{"id":"e1e880bb-e012-430d-a9f0-9a9d57034738","block_type":"box","text":"domiciled in jurisdictions where the relevant legal","page_number":19,"box":{"x":523,"y":519,"width":399,"height":11}},{"id":"88990c52-7316-43f4-8166-66352f6240ba","block_type":"box","text":"documentation is enforceable.","page_number":19,"box":{"x":523,"y":533,"width":222,"height":8}},{"id":"abbc6715-758f-4265-9958-7e3adebd24a8","block_type":"box","text":"Any collateral received in relation to a Sub-Fund will","page_number":19,"box":{"x":523,"y":552,"width":399,"height":11}},{"id":"23b3908d-d484-4c55-8cbd-d015a0001a64","block_type":"box","text":"meet the requirements of the COLL Sourcebook and","page_number":19,"box":{"x":524,"y":566,"width":398,"height":11}},{"id":"bfbcda1f-8d5a-4639-bab0-4451dbba9f18","block_type":"box","text":"will be limited to government and supranational issued","page_number":19,"box":{"x":523,"y":580,"width":399,"height":11}},{"id":"f48de139-a920-4db1-8c4c-832bd4c94d3d","block_type":"box","text":"collateral restricted to issuers located in certain","page_number":19,"box":{"x":523,"y":593,"width":399,"height":9}},{"id":"698f3bc2-839e-42fc-8131-f8e05ccc1dff","block_type":"box","text":"jurisdictions, equities listed on certain indices or","page_number":19,"box":{"x":522,"y":607,"width":401,"height":11}},{"id":"4779564a-a14a-4bcc-876f-5105ca1610ce","block_type":"box","text":"markets (agreed between the ACS Manager, the","page_number":19,"box":{"x":524,"y":620,"width":399,"height":12}},{"id":"5974d6f1-fc2f-48d4-b006-5d50fe54f178","block_type":"box","text":"Depositary and the Securities Lending Agent and set","page_number":19,"box":{"x":524,"y":634,"width":399,"height":11}},{"id":"f250b1d5-6a4d-46e2-a6be-aabfa6d149e1","block_type":"box","text":"out in the Securities Lending Authorisation Agreement)","page_number":19,"box":{"x":523,"y":648,"width":399,"height":11}},{"id":"6c3d2fc1-f215-4caf-8e7e-ebcfccfcc9a2","block_type":"box","text":"(including depositary receipts) and exchange traded","page_number":19,"box":{"x":524,"y":662,"width":398,"height":11}},{"id":"71ea08da-85b5-4eda-beb3-38e25e35b7e5","block_type":"box","text":"funds listed on major global regulated markets or a","page_number":19,"box":{"x":523,"y":675,"width":400,"height":11}},{"id":"8b087047-5bc3-4c61-9f7c-d2df9ebb77fb","block_type":"box","text":"multilateral trading facility.","page_number":19,"box":{"x":524,"y":689,"width":190,"height":11}},{"id":"91c8b89e-122a-491e-b181-ae0456f718dd","block_type":"box","text":"Collateral received must be liquid (as set out in the","page_number":19,"box":{"x":523,"y":708,"width":400,"height":12}},{"id":"67fb6f1d-27a0-454d-9737-fc81c0d37ec5","block_type":"box","text":"COLL Sourcebook). No additional liquidity or maturity","page_number":19,"box":{"x":523,"y":722,"width":400,"height":11}},{"id":"f485b73f-66da-447d-b479-511678ea5c29","block_type":"box","text":"limits (beyond limits on the type of collateral accepted)","page_number":19,"box":{"x":524,"y":736,"width":398,"height":11}},{"id":"d437433b-5a83-4e22-b0fc-87f88957ccc9","block_type":"box","text":"are applied in relation to collateral received","page_number":19,"box":{"x":523,"y":749,"width":318,"height":11}},{"id":"b52f7984-1a06-4943-a771-df6f9df61ec5","block_type":"box","text":".","page_number":19,"box":{"x":843,"y":757,"width":2,"height":1}},{"id":"d753480c-ac7a-4593-8a75-6f8e95f91bae","block_type":"box","text":"Collateral received on behalf of the Sub-Funds will be","page_number":19,"box":{"x":523,"y":769,"width":400,"height":9}},{"id":"ecdea115-ead2-40e2-b0d7-8155bf436030","block_type":"box","text":"issued by the counterparty in line with the","page_number":19,"box":{"x":524,"y":783,"width":399,"height":11}},{"id":"dab33f02-f03d-49a4-b549-a0d48f76bb9c","block_type":"box","text":"requirements of the COLL Sourcebook. The Securities","page_number":19,"box":{"x":524,"y":796,"width":399,"height":11}},{"id":"fe17879e-bf6a-47dc-8240-f1987753e8bf","block_type":"box","text":"Lending Agent will not accept any securities issued by","page_number":19,"box":{"x":524,"y":810,"width":399,"height":11}},{"id":"4dd0526c-9d4b-4b26-b84a-e2ab15cba673","block_type":"box","text":"Aviva Plc or the Securities Lending Agent, or their","page_number":19,"box":{"x":523,"y":824,"width":400,"height":11}},{"id":"0157ac8e-0c04-4d30-bab9-b7d30785a6a7","block_type":"box","text":"respective affiliated companies, and will also not","page_number":19,"box":{"x":524,"y":837,"width":399,"height":11}},{"id":"b77c87ea-0864-45d0-91dc-48120453585e","block_type":"box","text":"accept collateral where the issuer is a related party of","page_number":19,"box":{"x":523,"y":851,"width":400,"height":11}},{"id":"d5496b36-fadf-4682-9a53-945282fb8943","block_type":"box","text":"the counterparty.","page_number":19,"box":{"x":523,"y":865,"width":124,"height":11}},{"id":"86ffa0cf-c0bf-4245-b973-e08c58b82274","block_type":"box","text":"Collateral will need to be adequate in accordance with","page_number":19,"box":{"x":523,"y":884,"width":399,"height":11}},{"id":"3a25b7c8-4e64-4f76-b3df-b304177889bd","block_type":"box","text":"the COLL Sourcebook.","page_number":19,"box":{"x":523,"y":898,"width":169,"height":9}},{"id":"167b3c7b-d75c-4481-8115-e2bd97c544b6","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 20","page_number":20,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"de9e2760-0036-4e17-b6ef-106ccb4b360a","block_type":"box","text":"Any collateral received is valued daily on a mark-to","page_number":20,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"c84bc138-e787-41f8-8ca7-94048b5128ea","block_type":"box","text":"market basis. As the types of collateral accepted are","page_number":20,"box":{"x":62,"y":59,"width":399,"height":12}},{"id":"a5959cba-e03f-4dee-85b4-f44c23511765","block_type":"box","text":"liquid with publicly available prices, a mark-to-market","page_number":20,"box":{"x":62,"y":73,"width":400,"height":11}},{"id":"393b692c-7d50-46b6-ad2f-dfa9f7324bdb","block_type":"box","text":"basis gives the best valuation. A haircut (a deduction","page_number":20,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"8a822cd5-240d-4038-aa25-e577b562d7e3","block_type":"box","text":"to the valuation) is applied to the value of the collateral","page_number":20,"box":{"x":62,"y":100,"width":399,"height":11}},{"id":"8060f0cc-e465-4ff2-a771-ccefaaabc426","block_type":"box","text":"depending on the type of collateral received and","page_number":20,"box":{"x":62,"y":114,"width":399,"height":11}},{"id":"d8a6e601-3976-4d50-9793-5ff014b09417","block_type":"box","text":"positions will be subject to daily variation margin","page_number":20,"box":{"x":62,"y":128,"width":399,"height":11}},{"id":"e0d98c6d-a422-43ae-b2b9-5b66761372ed","block_type":"box","text":"requirements.","page_number":20,"box":{"x":63,"y":142,"width":100,"height":10}},{"id":"e3fdd1e0-58e2-42e5-9e9c-5a6c28c9d5b7","block_type":"box","text":"All transactions are governed by industry standard","page_number":20,"box":{"x":62,"y":161,"width":399,"height":11}},{"id":"960a3b2f-77c9-4747-820e-5afdeb2ba737","block_type":"box","text":"documentation. The assets (including cash) that may","page_number":20,"box":{"x":62,"y":175,"width":400,"height":11}},{"id":"e81f66b2-ef66-4d3f-9f31-70941a0350fb","block_type":"box","text":"be the subject of repo contracts are held under the","page_number":20,"box":{"x":62,"y":188,"width":399,"height":11}},{"id":"9ea9546f-eeaa-44c7-a23e-247b72074963","block_type":"box","text":"control of the Depositary for the benefit of the","page_number":20,"box":{"x":62,"y":202,"width":399,"height":11}},{"id":"83e75bcb-c436-481c-ab38-6b48f46ed9dc","block_type":"box","text":"underlying Sub-Fund.","page_number":20,"box":{"x":63,"y":216,"width":157,"height":11}},{"id":"a6bd2763-3d37-4814-919f-9cbff8ef581f","block_type":"box","text":"Collateral may not be re-used, sold, re-invested or","page_number":20,"box":{"x":62,"y":235,"width":400,"height":11}},{"id":"f3959625-2cda-4ee7-a1bb-52cd0d7104b2","block_type":"box","text":"pledged by the Securities Lending Agent unless","page_number":20,"box":{"x":62,"y":249,"width":399,"height":11}},{"id":"50ed0401-6f87-4e16-9809-b3efd80b113d","block_type":"box","text":"agreed by the ACS Manager.","page_number":20,"box":{"x":62,"y":262,"width":215,"height":12}},{"id":"c0d4352c-a670-4c68-8794-932f60f24266","block_type":"box","text":"The Securities Lending Agent shall retain 20% of any","page_number":20,"box":{"x":62,"y":282,"width":400,"height":11}},{"id":"e7ab06a7-6c26-4331-b156-784cc507785c","block_type":"box","text":"income and earnings from the investment and","page_number":20,"box":{"x":62,"y":296,"width":399,"height":11}},{"id":"0e3d4ebe-391a-4cbd-9af0-877975d70111","block_type":"box","text":"reinvestment of any cash collateral minus broker","page_number":20,"box":{"x":63,"y":309,"width":399,"height":12}},{"id":"b2796fba-22b1-4e45-9759-596d70efd2b5","block_type":"box","text":"rebate fees paid by the Securities Lending Agent to the","page_number":20,"box":{"x":63,"y":323,"width":398,"height":11}},{"id":"4e51ebba-cfd7-4df8-bddc-d18aac7c80d2","block_type":"box","text":"relevant counterparty.","page_number":20,"box":{"x":63,"y":337,"width":159,"height":11}},{"id":"be67057b-98be-46f9-a468-396917adf8d6","block_type":"box","text":"25. Leverage Ratios","page_number":20,"box":{"x":74,"y":362,"width":176,"height":11}},{"id":"503e6b91-e2bf-4e62-b1c8-58d1b31c00eb","block_type":"box","text":"The maximum level of leverage which a Sub-Fund, or","page_number":20,"box":{"x":62,"y":382,"width":400,"height":11}},{"id":"92939947-a929-4092-bdd5-a2df94ca0617","block_type":"box","text":"the ACS Manager on that Sub-Fund’s behalf, is","page_number":20,"box":{"x":62,"y":395,"width":399,"height":12}},{"id":"f233cd2a-2b79-4bb3-94b6-22773005943f","block_type":"box","text":"permitted to use as part of such Sub-Fund’s","page_number":20,"box":{"x":62,"y":409,"width":399,"height":11}},{"id":"32412ac4-3394-42fe-8091-efbc7d67b609","block_type":"box","text":"investment strategy is set out in Appendix 1.","page_number":20,"box":{"x":62,"y":423,"width":327,"height":11}},{"id":"a20ac8cb-ce35-4618-a4fa-e41dcfab70fc","block_type":"box","text":"As required by the UK AIFM Regime, leverage is","page_number":20,"box":{"x":62,"y":443,"width":399,"height":11}},{"id":"df806bd1-8566-4735-be9a-585e2ad4d1cb","block_type":"box","text":"expressed as a ratio between a Sub-Fund’s total","page_number":20,"box":{"x":62,"y":456,"width":399,"height":11}},{"id":"a0123cab-4e0e-41e6-ae54-98c7ab21a8e2","block_type":"box","text":"exposure and its net asset value. The generic","page_number":20,"box":{"x":62,"y":470,"width":400,"height":11}},{"id":"09520347-0614-4949-a52b-d562d931683f","block_type":"box","text":"examples below demonstrate the UK AIFM Regime","page_number":20,"box":{"x":62,"y":484,"width":399,"height":11}},{"id":"9768c02b-51ac-4e49-bb2f-e82ff030ac30","block_type":"box","text":"prescribed methodologies that must be used for","page_number":20,"box":{"x":62,"y":497,"width":400,"height":11}},{"id":"91f8276a-e5e5-4597-ad14-d31ec29d3b31","block_type":"box","text":"calculating such leverage ratios.","page_number":20,"box":{"x":62,"y":511,"width":237,"height":11}},{"id":"8588fa76-4274-42d9-a0ff-87fb023e84e3","block_type":"box","text":"If a Sub-Fund were to have 80% physical holding in","page_number":20,"box":{"x":63,"y":530,"width":398,"height":12}},{"id":"7c11719e-d6d2-46f0-ad15-e71a5d012a50","block_type":"box","text":"direct investments, 20% exposure to index futures,","page_number":20,"box":{"x":62,"y":544,"width":398,"height":11}},{"id":"b47a7f1d-cfc2-4d64-8c80-18a773fb3d1d","block_type":"box","text":"30% forward FX (used to hedge) and 20% cash, in","page_number":20,"box":{"x":62,"y":557,"width":399,"height":12}},{"id":"0d3c8e94-c814-4f2c-aedc-879aba057ae4","block_type":"box","text":"accordance with the UK AIFM Regime such Sub","page_number":20,"box":{"x":62,"y":571,"width":399,"height":11}},{"id":"4982e144-917c-4b0c-9764-fb8576f06cd9","block_type":"box","text":"Fund’s leverage would be expressed as follows:","page_number":20,"box":{"x":63,"y":585,"width":354,"height":11}},{"id":"85e9c2d8-f277-43f7-af62-25d848374c22","block_type":"box","text":"","page_number":20,"box":{"x":62,"y":609,"width":6,"height":4}},{"id":"70ea7423-ba43-41ac-9a29-ea82ccec3756","block_type":"box","text":"using the commitment methodology, a ratio of","page_number":20,"box":{"x":93,"y":605,"width":369,"height":12}},{"id":"3b3ee5be-41ca-4b6e-9843-16e16a1d29e5","block_type":"box","text":"1.2:1, where 1.2 represents this Sub-Fund’s","page_number":20,"box":{"x":93,"y":619,"width":368,"height":11}},{"id":"b1588386-0970-4cd2-aa82-b9513f0ee7a3","block_type":"box","text":"exposure to direct investments, index futures and","page_number":20,"box":{"x":92,"y":633,"width":369,"height":11}},{"id":"bea1f954-89e2-4e5b-b0c3-5c0e488de188","block_type":"box","text":"cash; pursuant to the UK AIFM Regime forward FX","page_number":20,"box":{"x":92,"y":646,"width":370,"height":12}},{"id":"66c8ca5d-9faa-44df-a2a1-86bde7d01668","block_type":"box","text":"used for hedging can be netted against a fund’s","page_number":20,"box":{"x":93,"y":660,"width":368,"height":11}},{"id":"b904102d-3fe6-4776-b69b-8dfd000562f3","block_type":"box","text":"foreign currency exposure;","page_number":20,"box":{"x":92,"y":674,"width":197,"height":11}},{"id":"7dea0091-0314-4868-8dc8-9356cf6b407c","block_type":"box","text":"","page_number":20,"box":{"x":62,"y":691,"width":6,"height":4}},{"id":"ae535322-51f5-480a-b3ff-7be0a5a38165","block_type":"box","text":"using the gross methodology, a ratio of 1.3:1,","page_number":20,"box":{"x":93,"y":688,"width":368,"height":11}},{"id":"e42a7678-d859-4b72-bd50-b15d87cd8bb4","block_type":"box","text":"where 1.3 represents this Sub-Fund’s exposure to","page_number":20,"box":{"x":92,"y":702,"width":369,"height":11}},{"id":"227ab5cf-9e03-4852-8759-1bbd3786c25b","block_type":"box","text":"direct investments, index futures and forward FX;","page_number":20,"box":{"x":92,"y":715,"width":368,"height":11}},{"id":"5324a517-1d82-4033-933e-bde8ced2fb11","block_type":"box","text":"pursuant to the UK AIFM Regime cash is excluded","page_number":20,"box":{"x":93,"y":729,"width":368,"height":11}},{"id":"fcb0a42c-3148-4db0-9d2a-e68aaf13798f","block_type":"box","text":"from the gross method of calculation whereas","page_number":20,"box":{"x":92,"y":743,"width":369,"height":11}},{"id":"b1318a52-a603-474e-bb8e-4f7e494df3f0","block_type":"box","text":"forward FX used for hedging cannot be netted.","page_number":20,"box":{"x":92,"y":756,"width":344,"height":12}},{"id":"e7c845e0-b664-491c-9a3b-ad642d4fcd93","block_type":"box","text":"As demonstrated above, the expression of 1.2:1 does","page_number":20,"box":{"x":62,"y":776,"width":399,"height":11}},{"id":"06646451-fb04-4bfc-a450-6d99075a9cdc","block_type":"box","text":"comprise “Incremental Exposure” through the use of","page_number":20,"box":{"x":62,"y":790,"width":400,"height":11}},{"id":"8067af2d-4a16-434d-aa92-58a96261f6b2","block_type":"box","text":"derivatives, and the Sub-Fund’s holdings in direct","page_number":20,"box":{"x":62,"y":803,"width":400,"height":11}},{"id":"be58d560-0b01-4a99-8c8a-1ca30b2e48ca","block_type":"box","text":"investments are also included. The exposure is","page_number":20,"box":{"x":62,"y":817,"width":399,"height":11}},{"id":"e83962a0-230e-4793-85e3-90faad92e597","block_type":"box","text":"calculated in accordance with the methodologies","page_number":20,"box":{"x":62,"y":831,"width":399,"height":11}},{"id":"30abf09b-6970-48bf-92f8-44cb426abe04","block_type":"box","text":"expressly set out in the UK AIFM Regime.","page_number":20,"box":{"x":62,"y":844,"width":310,"height":11}},{"id":"6d154618-c23b-4b2c-8df4-bf8ddaa22b39","block_type":"box","text":"If a Sub-Fund were to have 100% in collective","page_number":20,"box":{"x":63,"y":864,"width":398,"height":9}},{"id":"137ff603-f441-40ed-856e-ba30d2bf2184","block_type":"box","text":"investment schemes, in accordance with the UK AIFM","page_number":20,"box":{"x":62,"y":878,"width":399,"height":10}},{"id":"f9223c2d-bb98-4d68-b4ba-e1dc623494b8","block_type":"box","text":"Regime such Sub-Fund’s leverage would be","page_number":20,"box":{"x":63,"y":891,"width":398,"height":11}},{"id":"ea188f6a-2553-4109-90c7-cf53e62d2654","block_type":"box","text":"expressed as follows:","page_number":20,"box":{"x":62,"y":905,"width":158,"height":11}},{"id":"a088d099-6794-4a92-a11f-903cb3f276d9","block_type":"box","text":"","page_number":20,"box":{"x":524,"y":50,"width":5,"height":4}},{"id":"9121b9e9-03a2-435c-bfb8-01bc161a757c","block_type":"box","text":"using the commitment methodology, a ratio of 1:1,","page_number":20,"box":{"x":554,"y":47,"width":368,"height":11}},{"id":"76c2e561-1797-4922-9c9e-48e7eccda9f7","block_type":"box","text":"where 1 represents this Sub-Fund’s exposure to","page_number":20,"box":{"x":553,"y":60,"width":370,"height":11}},{"id":"4d9b04c3-d697-45f5-b34f-1e32c3196bb0","block_type":"box","text":"direct investments; and","page_number":20,"box":{"x":553,"y":74,"width":172,"height":10}},{"id":"7c6b9c5c-bf1c-4fbf-9381-7911cce62937","block_type":"box","text":"","page_number":20,"box":{"x":524,"y":91,"width":5,"height":5}},{"id":"c1d8cd02-2202-48b8-a53f-e24ff4b9dfe1","block_type":"box","text":"using the gross methodology, a ratio of 1:1, where","page_number":20,"box":{"x":554,"y":88,"width":369,"height":12}},{"id":"c2299921-341d-4ac9-b556-ec8c8a899a14","block_type":"box","text":"1 represents this Sub-Fund’s exposure to direct","page_number":20,"box":{"x":555,"y":102,"width":368,"height":11}},{"id":"af0cf414-8bb9-4d27-be16-ec0b06817995","block_type":"box","text":"investments.","page_number":20,"box":{"x":554,"y":116,"width":92,"height":8}},{"id":"6c0bd114-52df-488f-b311-16c4dd1ffe7a","block_type":"box","text":"In this example, although the Sub-Fund is not subject","page_number":20,"box":{"x":524,"y":135,"width":399,"height":11}},{"id":"f3a20aa7-d67e-4870-84d0-75ab33e6394a","block_type":"box","text":"to Incremental Exposure, the leverage ratios are","page_number":20,"box":{"x":523,"y":149,"width":400,"height":11}},{"id":"6817fdfe-b183-4df2-878a-c62e51a06d1a","block_type":"box","text":"above zero due to the exposure calculation being","page_number":20,"box":{"x":523,"y":163,"width":399,"height":11}},{"id":"3f3c6c30-a0cf-4042-9953-a4c2f139fcaf","block_type":"box","text":"performed in accordance with the methodologies","page_number":20,"box":{"x":524,"y":176,"width":399,"height":11}},{"id":"98ba1b08-553a-43b5-add6-1a7b2c941d15","block_type":"box","text":"expressly set out in the UK AIFM Regime.","page_number":20,"box":{"x":523,"y":190,"width":310,"height":11}},{"id":"246b1ff1-35c0-411a-90a8-7a539f8fec25","block_type":"box","text":"26. Risk Considerations","page_number":20,"box":{"x":535,"y":215,"width":209,"height":9}},{"id":"f6cc2a89-c613-4cc0-a3bf-f9ce77943897","block_type":"box","text":"Potential Unitholders should consider the risk factors","page_number":20,"box":{"x":524,"y":235,"width":399,"height":9}},{"id":"095a775b-e58d-4cdf-a4f4-7602c3d14a46","block_type":"box","text":"below before investing in the Scheme (or, in the case","page_number":20,"box":{"x":524,"y":249,"width":399,"height":11}},{"id":"bcaa4010-58ee-49c4-9898-c3c5ed7d371a","block_type":"box","text":"of specific risks applying to specific Sub-Funds, in","page_number":20,"box":{"x":523,"y":262,"width":399,"height":11}},{"id":"eb596f9e-96bf-40cd-99cf-d7a19b85e383","block_type":"box","text":"those Sub-Funds). This list must not be taken to be","page_number":20,"box":{"x":523,"y":276,"width":400,"height":11}},{"id":"7ee06959-b478-448d-9bc3-6fc1ee3e52e3","block_type":"box","text":"comprehensive. It should also be noted that there may","page_number":20,"box":{"x":523,"y":290,"width":400,"height":11}},{"id":"912d8145-82ff-4671-9ce2-658c32f0ce72","block_type":"box","text":"be new risks that arise in the future which could not","page_number":20,"box":{"x":524,"y":303,"width":399,"height":9}},{"id":"2f470966-f470-49ac-9ff7-dc3960d061be","block_type":"box","text":"have been anticipated in advance. Also, risk factors","page_number":20,"box":{"x":524,"y":317,"width":398,"height":11}},{"id":"c810c7c6-f66c-4072-acc5-914286485326","block_type":"box","text":"listed will apply to different Sub-Funds to different","page_number":20,"box":{"x":524,"y":330,"width":399,"height":12}},{"id":"8207e4a9-07c3-4a75-be5f-3b6b02aac166","block_type":"box","text":"degrees, and for a given Sub-Fund this degree could","page_number":20,"box":{"x":523,"y":344,"width":399,"height":11}},{"id":"b865c845-59a9-431b-8c51-a818cc66959d","block_type":"box","text":"increase or reduce through time.","page_number":20,"box":{"x":524,"y":358,"width":239,"height":11}},{"id":"2727767f-b3eb-4055-a6b0-73186e20262e","block_type":"box","text":"Unitholders will need to decide whether or not an","page_number":20,"box":{"x":524,"y":378,"width":398,"height":8}},{"id":"8d3924ef-c16e-4cb7-91e7-5d27376ba51a","block_type":"box","text":"investment in a Sub-Fund is appropriate for their","page_number":20,"box":{"x":524,"y":391,"width":399,"height":11}},{"id":"d796eee6-ce68-4110-b2d3-33f0fb806cdc","block_type":"box","text":"requirements.","page_number":20,"box":{"x":524,"y":405,"width":100,"height":11}},{"id":"ef7e8c4e-a1f7-4426-81e5-d807d6feaa36","block_type":"box","text":"Some of the risk factors below relate to the underlying","page_number":20,"box":{"x":523,"y":424,"width":399,"height":12}},{"id":"131a7d13-acbd-48e6-b79b-45da2d783a23","block_type":"box","text":"collective investment schemes (\"","page_number":20,"box":{"x":523,"y":438,"width":242,"height":11}},{"id":"ca2cdd1a-0361-473e-87f4-7820a51c4ea8","block_type":"box","text":"underlying fund","page_number":20,"box":{"x":768,"y":438,"width":125,"height":11}},{"id":"aa790802-6dc2-4e31-b72e-58e5c42d7863","block_type":"box","text":"\") in","page_number":20,"box":{"x":895,"y":438,"width":27,"height":11}},{"id":"f09167bb-3e07-4961-8565-84f6024c7c75","block_type":"box","text":"which the Sub-Funds invest but for that reason are","page_number":20,"box":{"x":523,"y":452,"width":400,"height":8}},{"id":"cc7a4126-b9e8-4d11-b942-58e3959492ae","block_type":"box","text":"also relevant to the Sub-Funds themselves.","page_number":20,"box":{"x":523,"y":465,"width":321,"height":9}},{"id":"c23a766b-ed40-4959-8527-2bb970dc573f","block_type":"box","text":"(a)","page_number":20,"box":{"x":536,"y":491,"width":18,"height":11}},{"id":"9c019b8a-7cf8-4920-8793-7df68826099c","block_type":"box","text":"General Investment Risks","page_number":20,"box":{"x":583,"y":491,"width":204,"height":9}},{"id":"d5323b1b-c9c9-46ef-a110-a18cfac8907a","block_type":"box","text":"The Sub-Funds are subject to fluctuations in capital","page_number":20,"box":{"x":523,"y":510,"width":399,"height":12}},{"id":"95db4ce1-dfb1-4ee2-97e1-b2c0534cfd0f","block_type":"box","text":"value of their underlying investments which can be","page_number":20,"box":{"x":523,"y":524,"width":400,"height":11}},{"id":"647c20f9-536b-4ad6-a6ac-4a9851ea68b0","block_type":"box","text":"influenced by factors such as political and economic","page_number":20,"box":{"x":524,"y":538,"width":399,"height":11}},{"id":"b1c4ba8b-27ae-41df-81e0-e1ff13264b87","block_type":"box","text":"news, corporate earnings reports, demographic trends","page_number":20,"box":{"x":524,"y":552,"width":399,"height":11}},{"id":"b341409b-d8ad-447c-a96f-21fb5cd47a63","block_type":"box","text":"and catastrophic events. The ACS Manager cannot","page_number":20,"box":{"x":523,"y":565,"width":400,"height":11}},{"id":"5b193399-992f-4a10-ae38-cd894c66a92a","block_type":"box","text":"guarantee that it will achieve the objectives set out for","page_number":20,"box":{"x":523,"y":579,"width":400,"height":11}},{"id":"f33c11ba-5d86-4065-bfac-f633e2382122","block_type":"box","text":"any Sub-Fund and in any particular period losses may","page_number":20,"box":{"x":523,"y":592,"width":400,"height":12}},{"id":"c57e5745-7898-48b3-a952-58da9ce68c85","block_type":"box","text":"be suffered. It is important for Unitholders to note that","page_number":20,"box":{"x":524,"y":606,"width":399,"height":11}},{"id":"66c70746-757f-4fe2-889d-2340e72ecaa3","block_type":"box","text":"past performance is not a guide to future performance","page_number":20,"box":{"x":524,"y":620,"width":399,"height":11}},{"id":"74e706bf-2a42-400c-9c76-12fa3bf5a0bb","block_type":"box","text":"or growth.","page_number":20,"box":{"x":523,"y":633,"width":73,"height":12}},{"id":"77896f8b-8542-43d3-91a1-8bf9205f40b4","block_type":"box","text":"Unitholders should always bear in mind that the price","page_number":20,"box":{"x":524,"y":653,"width":399,"height":11}},{"id":"237a6f92-6e6e-40e6-98ed-be1f1f29351d","block_type":"box","text":"of Units in any Sub-Fund and the income from them","page_number":20,"box":{"x":523,"y":667,"width":399,"height":11}},{"id":"987ae467-c946-4202-8e92-52055aff8fc6","block_type":"box","text":"can go down as well as up and are not guaranteed.","page_number":20,"box":{"x":523,"y":680,"width":399,"height":11}},{"id":"b1b388cd-0a0a-4654-8a4d-98656a6b1fcf","block_type":"box","text":"Unitholders may receive back less than the original","page_number":20,"box":{"x":524,"y":694,"width":398,"height":11}},{"id":"a1b91db9-cec4-421b-8686-fb2cc89b73f7","block_type":"box","text":"amount invested. An investment in a Sub-Fund is not","page_number":20,"box":{"x":523,"y":708,"width":400,"height":8}},{"id":"420bcbae-df47-4dbe-9e8e-1ffbd2e05ae8","block_type":"box","text":"intended to be a complete investment programme.","page_number":20,"box":{"x":524,"y":721,"width":372,"height":11}},{"id":"d4f96a41-39ca-4210-aa72-ca8e70bda817","block_type":"box","text":"Where cancellation rights apply to a contract any","page_number":20,"box":{"x":523,"y":741,"width":400,"height":11}},{"id":"73be0111-9d1e-47ea-941b-1cc8b1697d3b","block_type":"box","text":"Unitholder exercising such cancellation rights will not","page_number":20,"box":{"x":524,"y":755,"width":399,"height":11}},{"id":"c8a65552-b0f1-401e-b7ed-a9e220c97e99","block_type":"box","text":"obtain a full refund of the money paid on the making of","page_number":20,"box":{"x":523,"y":768,"width":400,"height":11}},{"id":"ed267398-1b92-49e7-acca-4d98efeb3bc2","block_type":"box","text":"the contract if the value of the investment falls before","page_number":20,"box":{"x":523,"y":782,"width":400,"height":9}},{"id":"ca3b26bb-6e49-4e46-93b1-309da5834a98","block_type":"box","text":"the cancellation notice is received by the ACS","page_number":20,"box":{"x":523,"y":795,"width":399,"height":12}},{"id":"b7182f66-de2e-4b66-bc6d-8e8d0d1b6ddf","block_type":"box","text":"Manager as an amount equal to that fall will be","page_number":20,"box":{"x":524,"y":809,"width":399,"height":11}},{"id":"5006bafd-bf99-4698-8e4b-ae0b11663eb6","block_type":"box","text":"deducted from any refund made to the Unitholder.","page_number":20,"box":{"x":523,"y":823,"width":369,"height":11}},{"id":"ead306db-a000-4198-af2c-53ca249a8040","block_type":"box","text":"An investment in a Sub-Fund is not protected against","page_number":20,"box":{"x":523,"y":842,"width":400,"height":12}},{"id":"bfcbb6f8-eb62-41ba-b491-bbaed07c4127","block_type":"box","text":"the effects of inflation. Inflation will reduce the","page_number":20,"box":{"x":523,"y":856,"width":400,"height":9}},{"id":"3d1c246f-0635-4064-b65f-df46f0ea7f8b","block_type":"box","text":"purchasing power of the money when an investment is","page_number":20,"box":{"x":524,"y":870,"width":399,"height":11}},{"id":"b5cb4a4c-fe80-4fe6-9e81-07134c6998f2","block_type":"box","text":"redeemed.","page_number":20,"box":{"x":524,"y":884,"width":77,"height":8}},{"id":"81bac70f-9696-4c73-97ac-3a80208d93a1","block_type":"box","text":"(i)","page_number":20,"box":{"x":524,"y":903,"width":12,"height":11}},{"id":"e195930c-3819-4df5-a149-57a283b797dd","block_type":"box","text":"Accumulation of Fees/Expenses","page_number":20,"box":{"x":571,"y":903,"width":257,"height":11}},{"id":"722e35c7-91f2-458b-a4bc-9a928e3d47fa","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 21","page_number":21,"box":{"x":62,"y":929,"width":321,"height":8}},{"id":"8c0357cf-9fb1-4ffd-b67c-65faa91e3b92","block_type":"box","text":"As the Sub-Funds of the Scheme may invest in","page_number":21,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"ef9ddfc5-5932-4b99-af14-54573bde4bd8","block_type":"box","text":"underlying funds, the Unitholders may incur a","page_number":21,"box":{"x":63,"y":59,"width":399,"height":12}},{"id":"5425f8e0-c996-467f-9ca3-d38a401ce593","block_type":"box","text":"duplication of fees (such as management fees,","page_number":21,"box":{"x":62,"y":73,"width":398,"height":11}},{"id":"a6c50c01-0629-4fa8-ac7b-ce63eaeac390","block_type":"box","text":"custody and transaction fees, other administration fees","page_number":21,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"7889350f-1b63-4f5a-b1fb-3be94812c453","block_type":"box","text":"and audit fees). To the extent these underlying funds","page_number":21,"box":{"x":62,"y":100,"width":399,"height":12}},{"id":"f8296cb4-cf6d-47a2-a2df-fc4841f31117","block_type":"box","text":"are permitted to invest in turn in other funds,","page_number":21,"box":{"x":62,"y":114,"width":399,"height":11}},{"id":"c07b3d82-d520-4e4e-953a-8630d860ac61","block_type":"box","text":"Unitholders may incur additional fees.","page_number":21,"box":{"x":63,"y":128,"width":277,"height":11}},{"id":"3525f2c3-ab78-49a0-add0-408c593f5bbe","block_type":"box","text":"(ii)","page_number":21,"box":{"x":63,"y":147,"width":16,"height":11}},{"id":"1ff41440-d965-46a5-9e2e-56a49e0f0955","block_type":"box","text":"Charges from Capital","page_number":21,"box":{"x":111,"y":147,"width":169,"height":12}},{"id":"5b82eea0-5ff4-4c9a-897c-bf7f9184eb93","block_type":"box","text":"Fees, costs and duties which are charged to each Sub","page_number":21,"box":{"x":63,"y":167,"width":398,"height":11}},{"id":"658548ee-1480-4eca-965f-7b02d2fb2a38","block_type":"box","text":"Fund may be treated as a capital expense. Whilst this","page_number":21,"box":{"x":63,"y":181,"width":398,"height":11}},{"id":"94e0daf0-6b1c-424f-aab6-85edd927ac58","block_type":"box","text":"might allow more income to be distributed, it may also","page_number":21,"box":{"x":62,"y":194,"width":399,"height":11}},{"id":"f4569044-2630-42df-b72d-af5b9ad993d0","block_type":"box","text":"result in capital erosion or constrain capital growth.","page_number":21,"box":{"x":63,"y":208,"width":397,"height":11}},{"id":"965ea150-7a66-4b4f-b4b6-09a3f643cea9","block_type":"box","text":"Please note that the ACS Manager does not consider","page_number":21,"box":{"x":63,"y":221,"width":399,"height":12}},{"id":"1051d3c9-ba42-4758-9648-07ee4490ce4b","block_type":"box","text":"that Unitholders seeking capital growth will be affected","page_number":21,"box":{"x":62,"y":235,"width":399,"height":11}},{"id":"09ca4ebf-2d2b-48eb-b49c-49ca44a13685","block_type":"box","text":"by such a policy, as the income distributed will be","page_number":21,"box":{"x":62,"y":249,"width":399,"height":11}},{"id":"c067de1a-4aae-41d8-b3e7-1bdf339e5fea","block_type":"box","text":"automatically reinvested on their behalf.","page_number":21,"box":{"x":62,"y":263,"width":294,"height":11}},{"id":"b740293b-574c-4c5b-aa9d-6b6ed7d006fa","block_type":"box","text":"(iii)","page_number":21,"box":{"x":63,"y":282,"width":19,"height":11}},{"id":"202bf71a-8516-4e49-903f-291de3ae02a7","block_type":"box","text":"Counterparty Risk","page_number":21,"box":{"x":111,"y":282,"width":145,"height":11}},{"id":"d50ece3b-9132-4697-ba34-0dd49d0d0776","block_type":"box","text":"See also ‘Credit Risk’. The bankruptcy or default of any","page_number":21,"box":{"x":62,"y":302,"width":400,"height":11}},{"id":"d83df513-b4af-4d4b-ad68-3d0d1fb17858","block_type":"box","text":"counterparty could result in losses to any Sub-Fund. In","page_number":21,"box":{"x":62,"y":315,"width":399,"height":11}},{"id":"397eb30c-c5bc-4e4e-b794-c8914734174f","block_type":"box","text":"addition, a Sub-Fund may bear the risk of loss because","page_number":21,"box":{"x":62,"y":329,"width":399,"height":11}},{"id":"37e7e7d8-7b17-4111-a4b2-b5b71e222ca2","block_type":"box","text":"a counterparty does not have the legal capacity to","page_number":21,"box":{"x":62,"y":343,"width":400,"height":11}},{"id":"71dee23f-5088-4bb9-90e0-f870231dcd7d","block_type":"box","text":"enter into a transaction, or if the transaction becomes","page_number":21,"box":{"x":62,"y":356,"width":399,"height":11}},{"id":"c9c89221-b66b-49a8-b46c-577286f89461","block_type":"box","text":"unenforceable due to relevant legislation or regulation","page_number":21,"box":{"x":63,"y":370,"width":398,"height":11}},{"id":"f032a86c-db85-43d2-9c2e-7f68e1b14b7c","block_type":"box","text":"(see ‘Legal and Regulatory Risk’).","page_number":21,"box":{"x":63,"y":384,"width":249,"height":11}},{"id":"77f766ae-5844-4f49-be8d-574fff4ccef9","block_type":"box","text":"In the case of any insolvency or failure of any such","page_number":21,"box":{"x":63,"y":403,"width":398,"height":11}},{"id":"635f559f-153a-4798-8c68-89de61f87f42","block_type":"box","text":"party, a Sub-Fund might recover only a pro rata share","page_number":21,"box":{"x":62,"y":417,"width":399,"height":11}},{"id":"b635473d-b2ca-489b-897f-3b66ea743a11","block_type":"box","text":"of all property available for distribution to all of such","page_number":21,"box":{"x":62,"y":431,"width":399,"height":11}},{"id":"5d439ef9-1199-4896-90e5-2c386c3babbe","block_type":"box","text":"party’s creditors and/or customers. Such an amount","page_number":21,"box":{"x":62,"y":444,"width":400,"height":11}},{"id":"6a165901-9769-404f-9544-99df0318f771","block_type":"box","text":"may be less than the amounts owed to that Sub-Fund.","page_number":21,"box":{"x":62,"y":458,"width":399,"height":11}},{"id":"29faf43b-dc97-4764-8c0b-0f757d4b57d3","block_type":"box","text":"Trading in financial derivative instruments which have","page_number":21,"box":{"x":62,"y":477,"width":399,"height":12}},{"id":"5aa814d2-03da-4745-ba16-c8e3c105a203","block_type":"box","text":"not been collateralised gives rise to direct counterparty","page_number":21,"box":{"x":62,"y":491,"width":400,"height":11}},{"id":"468a3145-787f-4218-9519-de0afebddfe2","block_type":"box","text":"exposure. A Sub-Fund might mitigate much of this risk","page_number":21,"box":{"x":62,"y":505,"width":400,"height":11}},{"id":"998b685f-4e96-4407-953b-90525655b367","block_type":"box","text":"by receiving collateral with a value at least equal to the","page_number":21,"box":{"x":62,"y":518,"width":399,"height":12}},{"id":"2b359312-941e-4f44-bd3e-6afaff8bf155","block_type":"box","text":"exposure to each counterparty but, to the extent that","page_number":21,"box":{"x":62,"y":532,"width":400,"height":11}},{"id":"4de24991-8056-4981-afd2-0c0056b8ce77","block_type":"box","text":"any financial derivative instrument is not fully","page_number":21,"box":{"x":62,"y":546,"width":400,"height":11}},{"id":"50a7bccf-fa66-4e14-8b58-68e93facdcd9","block_type":"box","text":"collateralised or, to the extent the Sub-Fund has","page_number":21,"box":{"x":62,"y":559,"width":399,"height":11}},{"id":"a4c34fe7-64bd-4d4a-bb1b-d6e29acabbd0","block_type":"box","text":"provided collateral to the counterparty under a SFT in","page_number":21,"box":{"x":62,"y":573,"width":399,"height":11}},{"id":"7cc91b55-6989-4fd3-92a8-bf7e5418d736","block_type":"box","text":"excess of the termination value of the underlying","page_number":21,"box":{"x":62,"y":587,"width":399,"height":11}},{"id":"a262c1f9-4c2a-447c-ae21-be4426702f68","block_type":"box","text":"contract, a default by the counterparty may result in a","page_number":21,"box":{"x":62,"y":600,"width":400,"height":11}},{"id":"76d341d4-a921-40a5-949c-721be3b34ab7","block_type":"box","text":"reduction in the value of a Sub-Fund. In the event of","page_number":21,"box":{"x":63,"y":614,"width":399,"height":9}},{"id":"0eeff99a-cf7a-45a0-871f-4a5be7743674","block_type":"box","text":"the insolvency of the counterparty to a derivative, the","page_number":21,"box":{"x":62,"y":628,"width":399,"height":11}},{"id":"ea6c6d22-cea4-4fc5-893a-a429af5d32a5","block_type":"box","text":"Sub-Fund of the Scheme will be treated as a general","page_number":21,"box":{"x":62,"y":641,"width":399,"height":12}},{"id":"90f60e0d-4e5a-4923-bc79-964e16183e15","block_type":"box","text":"creditor of such counterparty and will not have any","page_number":21,"box":{"x":62,"y":655,"width":400,"height":11}},{"id":"b0d83cf1-5609-4672-af50-0bd2d40cbb06","block_type":"box","text":"claim with respect to the underlying indebtedness.","page_number":21,"box":{"x":62,"y":669,"width":399,"height":11}},{"id":"cf80c722-0b13-4b37-a6e2-6b54b8a19b3c","block_type":"box","text":"Consequently, that Sub-Fund of the Scheme will be","page_number":21,"box":{"x":62,"y":682,"width":399,"height":11}},{"id":"6458c2fa-3284-4127-be7d-6be81208f30d","block_type":"box","text":"subject to the credit risk of the counterparty as well as","page_number":21,"box":{"x":62,"y":696,"width":399,"height":11}},{"id":"734ca6ee-c459-495a-bcda-1b9c7174ec57","block_type":"box","text":"that of the issuer of the indebtedness. As a result,","page_number":21,"box":{"x":62,"y":710,"width":398,"height":10}},{"id":"1c6bac91-48cb-4bd5-8670-6abb460ebd67","block_type":"box","text":"concentrations of derivatives in any one counterparty","page_number":21,"box":{"x":62,"y":723,"width":400,"height":11}},{"id":"80b84612-6365-4161-8989-ce8991096656","block_type":"box","text":"may subject a Sub-Fund to an additional degree of risk","page_number":21,"box":{"x":62,"y":737,"width":400,"height":11}},{"id":"f9e5b61a-8ed7-4ef6-a42f-3bb4d1027318","block_type":"box","text":"with respect to defaults by such counterparty as well","page_number":21,"box":{"x":62,"y":751,"width":399,"height":11}},{"id":"d37afa0d-f39a-4ea7-877e-827bb6cb14b8","block_type":"box","text":"as by the issuer of the underlying indebtedness.","page_number":21,"box":{"x":62,"y":764,"width":354,"height":11}},{"id":"88a5f2d9-3e17-416d-9c55-df57502984d7","block_type":"box","text":"To mitigate counterparty risk the Scheme will only use","page_number":21,"box":{"x":62,"y":784,"width":399,"height":11}},{"id":"9ef5bd6e-c488-4e97-9ebc-7579cca6f3de","block_type":"box","text":"preferred counterparties which it believes to be","page_number":21,"box":{"x":62,"y":797,"width":399,"height":11}},{"id":"cd8a69e3-d3de-4374-8205-226406f7489a","block_type":"box","text":"creditworthy and may reduce the exposure incurred in","page_number":21,"box":{"x":62,"y":811,"width":399,"height":11}},{"id":"4b2d55ff-01cb-4e75-80e4-f8fa700a2be1","block_type":"box","text":"connection with such transactions through the use of","page_number":21,"box":{"x":62,"y":825,"width":400,"height":11}},{"id":"af1b55ad-6646-401e-902b-ede68b7988db","block_type":"box","text":"letter of credit or collateral. A formal review of each","page_number":21,"box":{"x":62,"y":838,"width":399,"height":9}},{"id":"f0b5f034-a8c8-43a2-93fb-c6d210d1da55","block_type":"box","text":"new counterparty is completed and all approved","page_number":21,"box":{"x":62,"y":852,"width":399,"height":11}},{"id":"68fee44b-d563-4615-bb52-73683b641e1f","block_type":"box","text":"counterparties regularly assessed. However there can","page_number":21,"box":{"x":62,"y":866,"width":399,"height":11}},{"id":"a4d5eb82-86d2-4364-a9fd-e78566438686","block_type":"box","text":"be no guarantee that a counterparty will not default or","page_number":21,"box":{"x":62,"y":879,"width":400,"height":12}},{"id":"440aade8-4bcc-4fa5-baea-24f2fb2afc5e","block_type":"box","text":"that a Sub-Fund of the Scheme will not sustain losses","page_number":21,"box":{"x":62,"y":893,"width":399,"height":9}},{"id":"feb4ea1a-db21-4b81-8ee3-578866bb02c6","block_type":"box","text":"as a result.","page_number":21,"box":{"x":62,"y":907,"width":80,"height":8}},{"id":"3e267eaf-9fd6-4235-bbcb-5057271e7f3c","block_type":"box","text":"The ACS Manager is free to use one or more separate","page_number":21,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"0e7f1353-0647-478f-8969-9adf584797e2","block_type":"box","text":"counterparties for derivative investments. Some or all","page_number":21,"box":{"x":523,"y":59,"width":399,"height":11}},{"id":"8fb0e9f0-ef26-4781-bd4b-da9af7befb9e","block_type":"box","text":"of these counterparties may be associates of the Aviva","page_number":21,"box":{"x":523,"y":73,"width":400,"height":11}},{"id":"80da2225-0663-463b-b52d-1d1cfa2e3417","block_type":"box","text":"Group.","page_number":21,"box":{"x":523,"y":87,"width":49,"height":11}},{"id":"bd0da34b-6454-4033-a067-2e2873e3593c","block_type":"box","text":"(iv)","page_number":21,"box":{"x":524,"y":106,"width":21,"height":11}},{"id":"025bf064-f11f-477d-9a3b-c29da6c1f86c","block_type":"box","text":"Credit Risk","page_number":21,"box":{"x":572,"y":106,"width":89,"height":9}},{"id":"5dc997c3-c932-4269-b338-50aad533a965","block_type":"box","text":"See also ‘Counterparty Risk’. Credit risk is the risk that","page_number":21,"box":{"x":523,"y":126,"width":400,"height":11}},{"id":"25195ec2-3552-413e-9638-44098a910c62","block_type":"box","text":"the counterparty to a financial instrument will fail to","page_number":21,"box":{"x":523,"y":140,"width":400,"height":11}},{"id":"f856695f-c59a-45ed-8500-ad6cac382668","block_type":"box","text":"discharge an obligation. Each Sub-Fund will be","page_number":21,"box":{"x":523,"y":153,"width":400,"height":11}},{"id":"f1620d3c-c6b0-4a00-ab57-aedeb55d00a8","block_type":"box","text":"exposed to a credit risk for the parties with whom it","page_number":21,"box":{"x":523,"y":167,"width":400,"height":11}},{"id":"b1791718-c03b-4b1b-b6b0-09cd3dd9ff1a","block_type":"box","text":"trades. Investing in sovereign debt, any other debt","page_number":21,"box":{"x":523,"y":181,"width":400,"height":11}},{"id":"e5a54ead-ec03-4552-a11b-ef02c2a62998","block_type":"box","text":"guaranteed by a sovereign government, or corporate","page_number":21,"box":{"x":523,"y":194,"width":400,"height":11}},{"id":"4a26100a-9148-43f7-929e-8eb8ce8f4de9","block_type":"box","text":"debt entails risks related to the issuer’s ability and","page_number":21,"box":{"x":523,"y":208,"width":399,"height":11}},{"id":"6636c264-667d-4bf6-b8d9-6e877fe69b30","block_type":"box","text":"willingness to repay principal and pay interest. A","page_number":21,"box":{"x":523,"y":222,"width":400,"height":11}},{"id":"7a46c080-6312-462e-bc17-06f75d46935f","block_type":"box","text":"default by the issuer of the bond may impact the value","page_number":21,"box":{"x":523,"y":235,"width":400,"height":11}},{"id":"553e9490-4450-4696-972f-7414e29f74c3","block_type":"box","text":"of a Sub-Fund. Short-term cash equivalent","page_number":21,"box":{"x":523,"y":249,"width":400,"height":11}},{"id":"1134eba8-d417-427c-8904-6acb938a866f","block_type":"box","text":"investments, such as commercial paper, bankers’","page_number":21,"box":{"x":524,"y":263,"width":398,"height":11}},{"id":"66e99373-8c0b-48a2-85d5-d9e11ae884c2","block_type":"box","text":"acceptances, certificates of deposit, and repurchase","page_number":21,"box":{"x":523,"y":276,"width":400,"height":11}},{"id":"bbbbad6b-8c88-45ee-bb27-4dfdc1977caa","block_type":"box","text":"transactions, are not guaranteed by any government","page_number":21,"box":{"x":523,"y":290,"width":400,"height":11}},{"id":"d5d7c775-c0f3-4ef8-887f-0847e83a079c","block_type":"box","text":"and are subject to some risk of default.","page_number":21,"box":{"x":523,"y":303,"width":287,"height":12}},{"id":"e2551242-a08b-4e25-b636-169ae3a2f604","block_type":"box","text":"Credit risk may also arise through a default by one or","page_number":21,"box":{"x":523,"y":323,"width":400,"height":11}},{"id":"7e984638-fe43-4ac0-9fb0-ba9d3fa2acc9","block_type":"box","text":"several large institutions that are dependent on one","page_number":21,"box":{"x":523,"y":337,"width":400,"height":11}},{"id":"3f6ee211-f57d-440b-b1b3-0a9907638467","block_type":"box","text":"another to meet their liquidity or operational needs, so","page_number":21,"box":{"x":523,"y":350,"width":400,"height":11}},{"id":"78e36c5c-1d85-4ef8-9ef0-46211ecb0e3c","block_type":"box","text":"that a default by one institution causes a series of","page_number":21,"box":{"x":523,"y":364,"width":400,"height":11}},{"id":"7fa74481-1e7a-4a50-ba31-1ecfe8346100","block_type":"box","text":"defaults by the other institutions. This is sometimes","page_number":21,"box":{"x":523,"y":378,"width":399,"height":11}},{"id":"2be2bc9b-33d3-4769-a8a3-83c049070803","block_type":"box","text":"referred to as a \"systemic risk\" and may adversely","page_number":21,"box":{"x":524,"y":391,"width":399,"height":11}},{"id":"aecbaeca-adc2-42e0-bea8-a14e815f933b","block_type":"box","text":"affect financial intermediaries, such as clearing","page_number":21,"box":{"x":523,"y":405,"width":399,"height":11}},{"id":"92806686-0b9f-4657-b428-84e8d9176c3e","block_type":"box","text":"agencies, clearing houses, banks, securities firms and","page_number":21,"box":{"x":523,"y":419,"width":399,"height":11}},{"id":"e1f9bac3-36f1-41a8-b767-bc4981332846","block_type":"box","text":"exchanges, with which the Scheme interacts on a daily","page_number":21,"box":{"x":523,"y":432,"width":400,"height":11}},{"id":"3cb59b2b-d7f8-4897-a63f-13961c96496b","block_type":"box","text":"basis.","page_number":21,"box":{"x":524,"y":446,"width":41,"height":9}},{"id":"28b51108-978a-41f4-9c39-dfa380da92f0","block_type":"box","text":"(v)","page_number":21,"box":{"x":524,"y":466,"width":17,"height":11}},{"id":"303db84e-9e73-46b1-8539-e20a35ce20c7","block_type":"box","text":"Determination of Unit Prices","page_number":21,"box":{"x":583,"y":466,"width":225,"height":8}},{"id":"4e0239ff-27d2-4e84-93e9-d5940bcd5772","block_type":"box","text":"Where a Sub-Fund invests all or a proportion of its","page_number":21,"box":{"x":523,"y":485,"width":400,"height":11}},{"id":"38febdc5-c873-4660-9582-a25ba37455fa","block_type":"box","text":"assets in underlying funds, an equivalent proportion of","page_number":21,"box":{"x":523,"y":499,"width":400,"height":11}},{"id":"3c9bbafe-bc27-4053-9841-35587aff4ed6","block_type":"box","text":"the value of the Sub-Fund and hence the issue and","page_number":21,"box":{"x":523,"y":512,"width":399,"height":9}},{"id":"df8e5e29-53dc-43fd-bf19-f2c24d79d78c","block_type":"box","text":"redemption price of the Units, will be based on the","page_number":21,"box":{"x":524,"y":526,"width":399,"height":11}},{"id":"65d623a1-20d7-4a5a-9b3d-14c79308bdb7","block_type":"box","text":"latest prices that are available for the investments held","page_number":21,"box":{"x":524,"y":540,"width":398,"height":11}},{"id":"51fc1abb-ce59-4494-9432-2c5587eae4ba","block_type":"box","text":"by the underlying funds. These latest prices may be","page_number":21,"box":{"x":524,"y":553,"width":399,"height":12}},{"id":"f87b7a7b-47d7-41be-80e7-4fc0f3b65786","block_type":"box","text":"estimated prices due to either the frequency or the","page_number":21,"box":{"x":523,"y":567,"width":400,"height":11}},{"id":"6bee1aa9-85ed-409f-8aea-c63cf91e244a","block_type":"box","text":"timing of dealing in the investment vehicles in which","page_number":21,"box":{"x":523,"y":581,"width":399,"height":11}},{"id":"e674a9b8-31d4-43a9-ab29-2053c9279423","block_type":"box","text":"the underlying funds are invested or the time that is","page_number":21,"box":{"x":523,"y":594,"width":400,"height":12}},{"id":"a9e5d213-3604-40f0-b986-9d850958f8e2","block_type":"box","text":"required by the administrators of such investment","page_number":21,"box":{"x":524,"y":608,"width":399,"height":11}},{"id":"1b72aad4-1e85-484c-8e46-4ab7ab171b17","block_type":"box","text":"vehicles to calculate final prices. Consequently, the","page_number":21,"box":{"x":523,"y":622,"width":400,"height":11}},{"id":"a450c27b-8e58-4b8b-8049-5aa76871a277","block_type":"box","text":"value of the Sub-Fund and hence the issue and","page_number":21,"box":{"x":523,"y":635,"width":399,"height":9}},{"id":"b3716be3-a361-4879-8c26-e5d2011f932f","block_type":"box","text":"redemption prices of the Units, may not accurately","page_number":21,"box":{"x":524,"y":649,"width":399,"height":11}},{"id":"345dcbaa-04b1-4be2-a6cd-c7bb367208c2","block_type":"box","text":"reflect the value that would have been received by the","page_number":21,"box":{"x":524,"y":663,"width":399,"height":11}},{"id":"2eb02403-b89e-4cd5-9365-59ffd0f29d43","block_type":"box","text":"Sub-Fund had that holding been realised on that day.","page_number":21,"box":{"x":523,"y":676,"width":394,"height":12}},{"id":"40b20370-61c2-4214-a18d-2104c1a0fcb9","block_type":"box","text":"The underlying funds may invest in investment","page_number":21,"box":{"x":523,"y":696,"width":400,"height":11}},{"id":"a9442f51-ea52-40a5-ba19-41df047911e5","block_type":"box","text":"vehicles which do not permit holdings to be redeemed","page_number":21,"box":{"x":523,"y":710,"width":400,"height":11}},{"id":"64e41b2f-9161-4fb0-a585-6e4c52a14f35","block_type":"box","text":"on either as frequent a basis as that applying to the","page_number":21,"box":{"x":523,"y":723,"width":400,"height":11}},{"id":"933f30d9-301e-437c-b775-1c9b1365809e","block_type":"box","text":"Sub-Funds or on the same day as the Sub-Funds. In","page_number":21,"box":{"x":523,"y":737,"width":399,"height":11}},{"id":"fb3968e2-ac8c-43de-837b-a2841f66c906","block_type":"box","text":"the absence of published current redemption prices or","page_number":21,"box":{"x":523,"y":751,"width":400,"height":11}},{"id":"2613587f-05d8-4ee7-97d4-08c173f6ab33","block_type":"box","text":"net asset values the ACS Manager may have to","page_number":21,"box":{"x":524,"y":764,"width":399,"height":11}},{"id":"2e456790-8389-4f4a-adae-bd61420047e8","block_type":"box","text":"determine valuations in respect of such investments.","page_number":21,"box":{"x":523,"y":778,"width":399,"height":11}},{"id":"164595a0-2c8a-40ac-bc85-dc4215da34b4","block_type":"box","text":"Adequate information may not always be available to","page_number":21,"box":{"x":523,"y":792,"width":400,"height":11}},{"id":"b931fb1a-bd15-4544-9302-c98c717f5bb2","block_type":"box","text":"the ACS Manager or the Investment Managers from","page_number":21,"box":{"x":523,"y":805,"width":399,"height":11}},{"id":"395b2740-883f-466d-8918-b9e75a21e40b","block_type":"box","text":"underlying funds or other sources for that purpose and","page_number":21,"box":{"x":524,"y":819,"width":398,"height":11}},{"id":"b37f990c-623e-4bb0-80e8-88e074c09729","block_type":"box","text":"consequently such valuations may not accurately","page_number":21,"box":{"x":523,"y":833,"width":400,"height":11}},{"id":"9edd997d-2fea-43e4-b057-3376c276fb63","block_type":"box","text":"reflect the realisable value of the Sub-Funds’ holdings","page_number":21,"box":{"x":524,"y":846,"width":399,"height":11}},{"id":"82b9d825-31b6-4d5d-9736-ea8153b0dd09","block_type":"box","text":"on the next dealing day of the underlying fund","page_number":21,"box":{"x":523,"y":860,"width":399,"height":11}},{"id":"eaca7e7e-51db-43a4-9a70-42a1fe0627d4","block_type":"box","text":"concerned or the value that would have been received","page_number":21,"box":{"x":523,"y":874,"width":399,"height":8}},{"id":"d3abcc5c-3f33-4a21-999b-8ae4c50e641c","block_type":"box","text":"by the Sub-Funds had those holdings been realised on","page_number":21,"box":{"x":524,"y":887,"width":398,"height":11}},{"id":"325f90a4-3350-4439-8c3a-8edb37fb1d7a","block_type":"box","text":"that day.","page_number":21,"box":{"x":523,"y":901,"width":63,"height":11}},{"id":"c5673547-f980-4c1b-b10f-087f5284b94f","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 22","page_number":22,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"ddc89c68-f816-4cf6-81ab-cdac6dc31bf3","block_type":"box","text":"(vi)","page_number":22,"box":{"x":63,"y":46,"width":21,"height":11}},{"id":"fa0bb0f1-29f8-4268-b802-2f244af95d76","block_type":"box","text":"Fund Liability Risk","page_number":22,"box":{"x":110,"y":46,"width":150,"height":11}},{"id":"857d6aae-45ed-4d8b-971f-a1c60e8c0983","block_type":"box","text":"The Scheme is structured as an umbrella co","page_number":22,"box":{"x":62,"y":65,"width":399,"height":9}},{"id":"76b8f6eb-3efd-4903-9ef8-5a567762820f","block_type":"box","text":"ownership Scheme with segregated liability between","page_number":22,"box":{"x":62,"y":79,"width":399,"height":11}},{"id":"21106f87-0fff-45b6-86bf-e5649d6b56b8","block_type":"box","text":"its Sub-Funds. The assets of one Sub-Fund will not be","page_number":22,"box":{"x":62,"y":93,"width":399,"height":8}},{"id":"ec0bc079-5d6d-4ddf-abfb-6c8d8e5e1ba1","block_type":"box","text":"available to meet the liabilities of another. However,","page_number":22,"box":{"x":62,"y":106,"width":398,"height":11}},{"id":"6a395534-5ca8-4b0b-ad48-9df4255ff1c2","block_type":"box","text":"the Scheme (through the ACS Manager) may operate","page_number":22,"box":{"x":62,"y":120,"width":399,"height":11}},{"id":"c73594ae-87db-4127-9004-7bf020bfe527","block_type":"box","text":"or have assets held on its behalf or be subject to claims","page_number":22,"box":{"x":62,"y":134,"width":399,"height":11}},{"id":"889b19a5-84b0-43ee-9e6d-7065bffe4479","block_type":"box","text":"in the UK, or in other jurisdictions, whose courts may","page_number":22,"box":{"x":62,"y":147,"width":400,"height":11}},{"id":"f5abf477-68a4-488e-9fef-05aee8b60d11","block_type":"box","text":"not necessarily recognise such segregation of liability.","page_number":22,"box":{"x":62,"y":161,"width":398,"height":11}},{"id":"7c3d60d9-b432-471b-8ec8-278aae86f078","block_type":"box","text":"Therefore, it is not possible to be certain that the","page_number":22,"box":{"x":62,"y":181,"width":399,"height":11}},{"id":"b4190546-df4b-401f-a273-0387fcadcbe9","block_type":"box","text":"assets of a Sub-Fund will always be completely","page_number":22,"box":{"x":62,"y":194,"width":400,"height":11}},{"id":"44cf9f44-6f3b-4ac4-9232-f99db95f0a67","block_type":"box","text":"isolated from the liabilities of another Sub-Fund of the","page_number":22,"box":{"x":62,"y":208,"width":399,"height":9}},{"id":"ca5fd15a-2c83-48d5-a3be-dfe71ba3a6c8","block_type":"box","text":"Scheme in every circumstance.","page_number":22,"box":{"x":62,"y":221,"width":231,"height":12}},{"id":"41bcd3b1-2c84-4665-a04f-a1b763b5984d","block_type":"box","text":"(vii)","page_number":22,"box":{"x":63,"y":241,"width":24,"height":11}},{"id":"c152f425-87b5-454b-81a2-e23b3ceb52b9","block_type":"box","text":"Currency Risk and Interest Rate Risk","page_number":22,"box":{"x":111,"y":241,"width":295,"height":11}},{"id":"f2695c24-79c6-47d1-b82d-9b4b92a84b79","block_type":"box","text":"The net asset value per Unit of a Sub-Fund will be","page_number":22,"box":{"x":62,"y":261,"width":400,"height":11}},{"id":"03e12dc6-ea80-4b77-bf81-5113cde13656","block_type":"box","text":"computed in the Base Currency of the relevant Sub","page_number":22,"box":{"x":62,"y":274,"width":399,"height":11}},{"id":"709eb864-5cc8-4fe3-b651-d29cddf650d2","block_type":"box","text":"Fund whereas the investments held for the account of","page_number":22,"box":{"x":63,"y":288,"width":399,"height":9}},{"id":"1cea3321-873c-4963-8d1c-c4437557b5b2","block_type":"box","text":"that Sub-Fund may be acquired in other currencies.","page_number":22,"box":{"x":62,"y":302,"width":399,"height":11}},{"id":"8fe2b91c-e28e-4f46-96aa-afb6d562523b","block_type":"box","text":"The value in terms of the Base Currency of a Sub","page_number":22,"box":{"x":62,"y":315,"width":399,"height":11}},{"id":"16f79a32-f47d-48ae-be64-9a2589e573cb","block_type":"box","text":"Fund, where designated in a currency different to that","page_number":22,"box":{"x":63,"y":329,"width":399,"height":11}},{"id":"567dce62-a33d-4823-a154-571cd62fbe76","block_type":"box","text":"of the currencies of the underlying investments, may","page_number":22,"box":{"x":62,"y":343,"width":400,"height":11}},{"id":"9ae910f5-ef91-4930-b32c-19dddf59ded0","block_type":"box","text":"rise and fall due to currency exchange rate fluctuations","page_number":22,"box":{"x":63,"y":356,"width":398,"height":12}},{"id":"da0e706d-2d45-408b-8dc9-d3d7954289cc","block_type":"box","text":"of individual currencies, such that the net asset value","page_number":22,"box":{"x":62,"y":370,"width":399,"height":10}},{"id":"b61aa1f0-ca9d-43a7-a5bf-dedc9272eb87","block_type":"box","text":"of a Sub-Fund will change in response to such","page_number":22,"box":{"x":62,"y":384,"width":399,"height":11}},{"id":"48e81d47-e166-43fa-ba6f-33661a65351d","block_type":"box","text":"fluctuations. Adverse movements in currency","page_number":22,"box":{"x":62,"y":397,"width":400,"height":11}},{"id":"51d766b4-1182-495e-aaf7-b24f9509960d","block_type":"box","text":"exchange rates can result in a decrease in return and","page_number":22,"box":{"x":62,"y":411,"width":399,"height":11}},{"id":"e2d46bf2-203e-4d12-ac3a-9685dcfa58fe","block_type":"box","text":"a loss of capital separately from gains or losses","page_number":22,"box":{"x":62,"y":425,"width":399,"height":11}},{"id":"401eacad-4a44-4c9f-981d-5c318b7dc9fe","block_type":"box","text":"otherwise made by such investments. The","page_number":22,"box":{"x":62,"y":438,"width":399,"height":11}},{"id":"5e46ce68-67b2-472b-ac7a-4b4fb4cf45a0","block_type":"box","text":"performance of investments in securities denominated","page_number":22,"box":{"x":62,"y":452,"width":399,"height":11}},{"id":"6fa35e5f-c3b8-4cc1-a5ba-0a9f93aa5cad","block_type":"box","text":"in a specific currency will also depend on the interest","page_number":22,"box":{"x":62,"y":466,"width":400,"height":11}},{"id":"9ed90ac4-7259-4d65-a89e-0a654aced60e","block_type":"box","text":"rate environment in the country issuing the security.","page_number":22,"box":{"x":63,"y":479,"width":381,"height":11}},{"id":"f1157035-d3dd-4f26-8e94-7aba55500345","block_type":"box","text":"Except to the extent that values are independently","page_number":22,"box":{"x":63,"y":499,"width":399,"height":11}},{"id":"1f05053f-776f-45eb-80c6-98e90b4ff7d0","block_type":"box","text":"affected by currency exchange rate fluctuations, when","page_number":22,"box":{"x":62,"y":513,"width":399,"height":11}},{"id":"f99feae6-1d49-474c-b895-445ef2775f61","block_type":"box","text":"interest rates decline, the value of fixed income","page_number":22,"box":{"x":62,"y":526,"width":399,"height":10}},{"id":"ec929382-290a-4fa9-a848-923cd926795f","block_type":"box","text":"securities generally can be expected to rise.","page_number":22,"box":{"x":62,"y":540,"width":398,"height":11}},{"id":"5537c45a-4d6e-4251-b5d5-fe9e324c5b56","block_type":"box","text":"Conversely, when interest rates rise, the value of fixed","page_number":22,"box":{"x":62,"y":553,"width":399,"height":12}},{"id":"fc4a26fc-eb71-4d40-a795-2d11ad31f49a","block_type":"box","text":"income securities generally can be expected to","page_number":22,"box":{"x":62,"y":567,"width":399,"height":11}},{"id":"6dfd39a2-0a44-469f-bcb7-ae3966ee910f","block_type":"box","text":"decline.","page_number":22,"box":{"x":62,"y":581,"width":56,"height":9}},{"id":"6783f212-0c43-4c03-8c13-3847f736b485","block_type":"box","text":"(viii)","page_number":22,"box":{"x":63,"y":600,"width":28,"height":11}},{"id":"e2c0a62f-5c39-43cb-9c44-b0f4a63044b5","block_type":"box","text":"Leverage","page_number":22,"box":{"x":110,"y":600,"width":73,"height":11}},{"id":"c34af8e0-0b10-458a-a8a3-2729a03bb237","block_type":"box","text":"A Sub-Fund may be able to use leverage, including","page_number":22,"box":{"x":62,"y":620,"width":399,"height":11}},{"id":"8901fad1-46a4-4b36-9d9f-dad2fb9c2bda","block_type":"box","text":"through use of derivative instruments, in accordance","page_number":22,"box":{"x":62,"y":634,"width":399,"height":11}},{"id":"3015f7bd-5397-4d51-a514-8c7269d424b3","block_type":"box","text":"with its investment objective and strategy as set out in","page_number":22,"box":{"x":62,"y":647,"width":399,"height":11}},{"id":"abc25f1e-2c3f-428c-99e9-756f8de4e180","block_type":"box","text":"Appendix 1 and subject to the investment restrictions","page_number":22,"box":{"x":62,"y":661,"width":399,"height":11}},{"id":"c13fe070-2ae3-4d40-ad82-cc1cbda86ce4","block_type":"box","text":"set out in Appendix 6.","page_number":22,"box":{"x":62,"y":675,"width":159,"height":11}},{"id":"ec6df06f-27c1-4240-a6b1-bb1caf3934e0","block_type":"box","text":"Leverage will generally be generated by using","page_number":22,"box":{"x":63,"y":694,"width":398,"height":11}},{"id":"c66a0313-5ef6-48c5-8eac-8b15a75f456e","block_type":"box","text":"derivatives that are inherently leveraged due to the","page_number":22,"box":{"x":62,"y":708,"width":399,"height":11}},{"id":"b6d8697d-aa50-46de-9885-a0c0a92e9265","block_type":"box","text":"relatively small amount of deposit required to open a","page_number":22,"box":{"x":63,"y":721,"width":399,"height":12}},{"id":"716de5d0-3cf0-4d87-9909-76bf37a8fee6","block_type":"box","text":"position, including among others, forward contracts,","page_number":22,"box":{"x":62,"y":735,"width":398,"height":11}},{"id":"0c2c4a96-9e0c-41f2-bbce-a6e78ece8e55","block_type":"box","text":"futures contracts, options and swaps. A relatively small","page_number":22,"box":{"x":62,"y":749,"width":399,"height":11}},{"id":"095c839f-e669-4196-b60e-92b82d783140","block_type":"box","text":"market movement may therefore have a potentially","page_number":22,"box":{"x":62,"y":762,"width":400,"height":12}},{"id":"598251f1-69ad-4225-b2e5-b0d89ed3dfcc","block_type":"box","text":"larger impact on derivatives than on standard bonds or","page_number":22,"box":{"x":62,"y":776,"width":400,"height":11}},{"id":"97f34dc9-63ca-4d16-b14b-ad943e113edd","block_type":"box","text":"equities, with the result that leveraged derivative","page_number":22,"box":{"x":62,"y":790,"width":399,"height":11}},{"id":"bbea1a9f-3259-47ca-bfdb-a90464187fa4","block_type":"box","text":"positions may increase Sub-Fund volatility.","page_number":22,"box":{"x":62,"y":803,"width":316,"height":12}},{"id":"33d38060-b48c-4f79-bbf2-a686ceb34ed0","block_type":"box","text":"The Sub-Funds may have higher levels of leverage in","page_number":22,"box":{"x":62,"y":823,"width":399,"height":11}},{"id":"29858a09-45fd-49a0-8f9e-d4d3b0af4466","block_type":"box","text":"atypical or volatile market conditions, for example","page_number":22,"box":{"x":62,"y":837,"width":399,"height":11}},{"id":"efa376e2-6444-476d-a5c5-98888aa67796","block_type":"box","text":"when there are sudden movements in investment","page_number":22,"box":{"x":62,"y":850,"width":400,"height":9}},{"id":"073be450-d341-4996-8b5e-3555c0610483","block_type":"box","text":"prices due to difficult economic conditions in a sector","page_number":22,"box":{"x":62,"y":864,"width":400,"height":11}},{"id":"dfd7feba-a9d1-43d2-956e-f6687735611e","block_type":"box","text":"or region. In such circumstances, the ACS Manager or","page_number":22,"box":{"x":62,"y":878,"width":400,"height":11}},{"id":"88798be8-a440-41fc-b12d-a2fe45ab44fd","block_type":"box","text":"its delegate may increase its use of derivatives in a","page_number":22,"box":{"x":62,"y":891,"width":400,"height":12}},{"id":"70a374d3-3c4f-406b-a912-37883450a2ad","block_type":"box","text":"Sub-Fund in order to reduce the market risk to which","page_number":22,"box":{"x":62,"y":905,"width":399,"height":9}},{"id":"1184bd5f-5578-4772-aef0-fecbe96e56db","block_type":"box","text":"that Sub-Fund is exposed, this, in turn, would have the","page_number":22,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"7f8453a3-54a7-4543-b7b2-47d248e30add","block_type":"box","text":"effect of increasing its levels of leverage.","page_number":22,"box":{"x":523,"y":59,"width":301,"height":12}},{"id":"eabbe7b1-346b-463e-b8f8-a58150dcd7df","block_type":"box","text":"Leverage may also take the form of trading on margin,","page_number":22,"box":{"x":524,"y":79,"width":398,"height":11}},{"id":"21a462a0-4d4a-46bc-9cb4-1d1c4ad89b18","block_type":"box","text":"which will result in interest charges and, depending on","page_number":22,"box":{"x":523,"y":93,"width":399,"height":11}},{"id":"6bf2d262-8598-4b68-aacc-844b163f6b3e","block_type":"box","text":"the amount of trading activity, such charges could be","page_number":22,"box":{"x":523,"y":106,"width":400,"height":12}},{"id":"42d167de-aad9-4140-934d-5be037de1435","block_type":"box","text":"substantial. The level of interest rates generally, and","page_number":22,"box":{"x":523,"y":120,"width":400,"height":11}},{"id":"45f515c9-c3c1-4b8f-8e39-41fb3079ca7a","block_type":"box","text":"the rates at which a Sub-Fund can borrow in particular,","page_number":22,"box":{"x":523,"y":134,"width":399,"height":11}},{"id":"12e1839c-6bcd-4f72-b6d9-55e89fd47f1d","block_type":"box","text":"will affect the operating results of that Sub-Fund.","page_number":22,"box":{"x":523,"y":147,"width":358,"height":12}},{"id":"968eb36f-9e37-4525-a507-b250e8ebc29d","block_type":"box","text":"In general, the anticipated use of short-term margin","page_number":22,"box":{"x":524,"y":167,"width":398,"height":11}},{"id":"75fbae65-6c8e-4704-82e3-394c1d6c33e6","block_type":"box","text":"borrowings may result in certain additional risks to the","page_number":22,"box":{"x":524,"y":181,"width":399,"height":11}},{"id":"522c0c0e-f955-4e66-afda-ba25ac311683","block_type":"box","text":"Sub-Funds. For example, should the securities","page_number":22,"box":{"x":523,"y":194,"width":400,"height":11}},{"id":"a8f24385-da3a-4d67-940b-aeeb875fe867","block_type":"box","text":"pledged to brokers to secure a Sub-Fund's margin","page_number":22,"box":{"x":524,"y":208,"width":398,"height":11}},{"id":"d5105cd9-5bac-4b10-807f-d18517b3c90f","block_type":"box","text":"accounts decline in value, a Sub-Fund could be","page_number":22,"box":{"x":523,"y":221,"width":400,"height":11}},{"id":"be7e3598-65e9-43ec-b3eb-8d6d57f1d2c9","block_type":"box","text":"subject to a “margin call”, pursuant to which a Sub","page_number":22,"box":{"x":523,"y":235,"width":399,"height":11}},{"id":"14979217-1339-4c37-932a-2b4fd8691fc6","block_type":"box","text":"Fund must either deposit additional funds or securities","page_number":22,"box":{"x":524,"y":249,"width":399,"height":11}},{"id":"ef128e57-eddb-472c-9160-f59258d055ea","block_type":"box","text":"with the broker, or suffer mandatory liquidation of the","page_number":22,"box":{"x":523,"y":263,"width":400,"height":11}},{"id":"b290a215-dbaa-41d2-b962-681f05284c90","block_type":"box","text":"pledged securities to compensate for the decline in","page_number":22,"box":{"x":524,"y":276,"width":398,"height":11}},{"id":"d5a690e8-d03f-49fa-8a39-b7631b9301da","block_type":"box","text":"value. In the event of a sudden drop in the value of a","page_number":22,"box":{"x":523,"y":290,"width":400,"height":11}},{"id":"cb659385-801a-4abd-9ced-6321044efe1e","block_type":"box","text":"Sub-Fund's assets, a Sub-Fund might not be able to","page_number":22,"box":{"x":523,"y":303,"width":400,"height":12}},{"id":"0904a5ce-2193-4adf-b0be-1c88bc7fa768","block_type":"box","text":"liquidate assets quickly enough to pay off its margin","page_number":22,"box":{"x":524,"y":317,"width":398,"height":11}},{"id":"dd5ba864-fd87-4f32-9e78-c596aa9975d6","block_type":"box","text":"debt. Whether any margin deposit will be required for","page_number":22,"box":{"x":523,"y":331,"width":400,"height":11}},{"id":"5ec62da9-e595-4584-996b-afc761a6c123","block_type":"box","text":"OTC options and other OTC instruments, such as","page_number":22,"box":{"x":523,"y":344,"width":400,"height":12}},{"id":"4e7e543c-bf8d-4938-b2bc-5ff56ac1cc45","block_type":"box","text":"currency forwards, swaps and certain other derivative","page_number":22,"box":{"x":523,"y":358,"width":400,"height":11}},{"id":"0f4e7180-a501-4415-8005-0f0b4a1576d2","block_type":"box","text":"instruments, will depend on the credit determinations","page_number":22,"box":{"x":524,"y":372,"width":399,"height":11}},{"id":"c63337d2-76e5-41b4-ab10-31423647e6a8","block_type":"box","text":"and specific agreements of the parties to the","page_number":22,"box":{"x":523,"y":385,"width":400,"height":12}},{"id":"5e2d71f9-626b-40ea-ac11-cca311ec103a","block_type":"box","text":"transaction, which are individually negotiated. Low","page_number":22,"box":{"x":523,"y":399,"width":400,"height":11}},{"id":"fe9fc39e-5e97-4091-b2d6-7f96697a154e","block_type":"box","text":"margin deposits are indicative of the fact that any","page_number":22,"box":{"x":524,"y":413,"width":399,"height":11}},{"id":"a0ba61b6-07ce-4a7f-a9e8-c81bd42a567b","block_type":"box","text":"trading in certain derivatives markets is typically","page_number":22,"box":{"x":523,"y":427,"width":400,"height":11}},{"id":"9ef8ed0f-e823-4b95-9675-c78a593c6144","block_type":"box","text":"accompanied by a high degree of leverage. Low","page_number":22,"box":{"x":523,"y":440,"width":400,"height":11}},{"id":"e7acb981-2ce7-44ec-bd94-b68f91d42ac5","block_type":"box","text":"margin deposits mean that a relatively small adverse","page_number":22,"box":{"x":524,"y":454,"width":399,"height":11}},{"id":"b6e1ebca-3ca5-4b82-bd8b-e5b5dec27ae9","block_type":"box","text":"price movement in a contract may result in immediate","page_number":22,"box":{"x":524,"y":467,"width":399,"height":11}},{"id":"f7dcd248-151b-4cf1-b7a3-7aa9dd75a45d","block_type":"box","text":"and substantial losses to the Unitholder. For example,","page_number":22,"box":{"x":523,"y":481,"width":399,"height":11}},{"id":"38d9689a-4668-4899-ba4f-564461f20afb","block_type":"box","text":"if at the time of purchase 10% of the price of a futures","page_number":22,"box":{"x":524,"y":495,"width":398,"height":11}},{"id":"6ad16470-e338-44be-8153-1d9ef80e62e1","block_type":"box","text":"contract is deposited as margin, a 10% decrease in the","page_number":22,"box":{"x":523,"y":508,"width":400,"height":11}},{"id":"91a1ad02-76a0-404a-8e73-33870d495427","block_type":"box","text":"price of the futures contract would, if the contract is","page_number":22,"box":{"x":524,"y":522,"width":399,"height":11}},{"id":"eec50d8e-d818-4b5e-92f4-4f89f96dc658","block_type":"box","text":"then closed out, result in a total loss of the value of","page_number":22,"box":{"x":523,"y":536,"width":400,"height":10}},{"id":"bceab7ee-9c68-4db0-8003-200e02675e90","block_type":"box","text":"margin deposit before any deduction for the brokerage","page_number":22,"box":{"x":524,"y":549,"width":399,"height":11}},{"id":"2232a1f6-8637-4065-b091-544539770389","block_type":"box","text":"commission. Thus, like other leveraged investments,","page_number":22,"box":{"x":523,"y":563,"width":399,"height":11}},{"id":"af9a8127-2a7b-4f28-bbb6-93b33c5587db","block_type":"box","text":"any purchase or sale of a futures contract, forward or","page_number":22,"box":{"x":523,"y":577,"width":400,"height":11}},{"id":"93d53182-351c-4eab-905f-c0ceecd3a870","block_type":"box","text":"other derivatives may result in losses in excess of the","page_number":22,"box":{"x":523,"y":590,"width":400,"height":11}},{"id":"08de53e7-a267-4c3c-aa42-cb88bb707130","block_type":"box","text":"amount invested.","page_number":22,"box":{"x":523,"y":604,"width":126,"height":9}},{"id":"7f154107-3ca0-46e3-9c4d-b82c1d18d612","block_type":"box","text":"Any investment income and gains earned on","page_number":22,"box":{"x":523,"y":624,"width":399,"height":11}},{"id":"20545aea-5631-4189-a09e-0d9e01740c93","block_type":"box","text":"investments made through the use of leverage that are","page_number":22,"box":{"x":524,"y":637,"width":399,"height":11}},{"id":"bf4b3868-22a7-4577-b9a7-8915acbdc972","block_type":"box","text":"in excess of the interest costs associated therewith","page_number":22,"box":{"x":524,"y":651,"width":398,"height":9}},{"id":"32f20ea0-3977-42a5-8b5a-c2dc075e1af6","block_type":"box","text":"may cause the net asset value of the Units in a Sub","page_number":22,"box":{"x":524,"y":664,"width":398,"height":12}},{"id":"fade10df-2e70-410d-9515-4284830ddf6a","block_type":"box","text":"Fund to increase more rapidly than would otherwise be","page_number":22,"box":{"x":524,"y":678,"width":399,"height":11}},{"id":"31ba5d94-be19-44cd-aa3f-1231b7507f37","block_type":"box","text":"the case. Conversely, where the associated interest","page_number":22,"box":{"x":523,"y":692,"width":400,"height":11}},{"id":"1b1617c0-cb8a-40f9-ac25-8504f24f0afa","block_type":"box","text":"costs are greater than such income and gains, the net","page_number":22,"box":{"x":523,"y":706,"width":400,"height":11}},{"id":"20ed3d44-2203-44b1-ba90-a43a87422eed","block_type":"box","text":"asset value of the Units in a Sub-Fund may decrease","page_number":22,"box":{"x":523,"y":719,"width":400,"height":11}},{"id":"e592eaf0-de19-4110-abf7-91dce10ad53c","block_type":"box","text":"more rapidly than would otherwise be the case. Any","page_number":22,"box":{"x":524,"y":733,"width":399,"height":11}},{"id":"832b685b-1d68-48dd-8b5c-ba7090476d6f","block_type":"box","text":"event which adversely affects the value of an","page_number":22,"box":{"x":523,"y":746,"width":399,"height":12}},{"id":"9235df4d-9da8-414c-b638-6c6d59b51cf0","block_type":"box","text":"investment made by a Sub-Fund would be magnified","page_number":22,"box":{"x":524,"y":760,"width":398,"height":11}},{"id":"c380fd94-b0bb-4973-b1a3-1f90afcd6f7a","block_type":"box","text":"to the extent that Sub-Fund is leveraged.","page_number":22,"box":{"x":523,"y":774,"width":302,"height":11}},{"id":"376930b2-d34f-4340-bdcd-88e7b7a371b5","block_type":"box","text":"(ix)","page_number":22,"box":{"x":524,"y":793,"width":21,"height":11}},{"id":"9cca2411-419a-43e4-852a-0f1fc024e6af","block_type":"box","text":"Liquidity Risk","page_number":22,"box":{"x":583,"y":793,"width":111,"height":11}},{"id":"bbff38a3-9eca-44c1-8ccf-3ea72daafbb0","block_type":"box","text":"Liquidity risk exists when the sale of assets or exit of","page_number":22,"box":{"x":524,"y":813,"width":399,"height":11}},{"id":"7c9d7765-93ec-44db-b8a6-cb7e4181ed88","block_type":"box","text":"trading positions is impaired by such factors as","page_number":22,"box":{"x":523,"y":827,"width":400,"height":11}},{"id":"b341e9ef-f4f6-4bc2-8e17-d85488388824","block_type":"box","text":"decreased trading volume, increased price volatility,","page_number":22,"box":{"x":523,"y":840,"width":399,"height":11}},{"id":"3e32ca9f-f714-4fcd-b0e6-2edcb2e7599d","block_type":"box","text":"industry and government regulations, and overall","page_number":22,"box":{"x":524,"y":854,"width":398,"height":11}},{"id":"4e78afd1-e468-4ea2-8e37-984c3d2bec6b","block_type":"box","text":"position size and complexity. It may be impossible or","page_number":22,"box":{"x":524,"y":868,"width":399,"height":11}},{"id":"32d5a3cf-d3c4-4a55-a170-4b752f3f0488","block_type":"box","text":"costly for a Sub-Fund to liquidate positions rapidly","page_number":22,"box":{"x":523,"y":881,"width":400,"height":11}},{"id":"961ee271-5282-4877-ae9b-1e8ec86537d0","block_type":"box","text":"particularly if there are other market participants","page_number":22,"box":{"x":524,"y":895,"width":399,"height":11}},{"id":"ecee34d2-e41e-43e5-9900-9de98df093fe","block_type":"box","text":"seeking to dispose of similar assets at the same time","page_number":22,"box":{"x":523,"y":909,"width":400,"height":11}},{"id":"9b1865d9-1091-4d6f-b9a5-aa50cf307001","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 23","page_number":23,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"7c90136a-fe89-4559-8bd0-119da2bfe967","block_type":"box","text":"or the relevant market is otherwise moving against a","page_number":23,"box":{"x":62,"y":46,"width":400,"height":11}},{"id":"d62f7423-68ec-4df2-8cbb-36a13d7ebbbc","block_type":"box","text":"position or in the event of trading halts or daily price","page_number":23,"box":{"x":62,"y":59,"width":399,"height":12}},{"id":"8783f559-020a-4142-a1d6-4d2055f67682","block_type":"box","text":"movement limits on the market or otherwise.","page_number":23,"box":{"x":62,"y":73,"width":399,"height":9}},{"id":"c710f280-8633-4b54-aa54-15d83b3d83df","block_type":"box","text":"Derivative transactions that are particularly large or","page_number":23,"box":{"x":63,"y":87,"width":399,"height":11}},{"id":"0b136fa3-9e9f-4e0e-9e60-d458c2369c32","block_type":"box","text":"traded off market (i.e. over the counter) and bonds","page_number":23,"box":{"x":62,"y":100,"width":399,"height":11}},{"id":"e3b59ead-fc41-42ff-bc12-a0312de98ed4","block_type":"box","text":"traded in the secondary market or collateral or","page_number":23,"box":{"x":62,"y":114,"width":400,"height":11}},{"id":"afc2fbe3-a838-4721-bc95-eaccffb87f34","block_type":"box","text":"securities which has been received by a Sub-Fund","page_number":23,"box":{"x":62,"y":128,"width":399,"height":11}},{"id":"7510696e-844e-4441-8d34-c670fd2a4842","block_type":"box","text":"under a SFT may be less liquid and it may be difficult","page_number":23,"box":{"x":63,"y":141,"width":399,"height":12}},{"id":"7edae643-38b5-4d36-a64a-6f19c050abfd","block_type":"box","text":"to achieve fair value on transactions (see ‘Valuation","page_number":23,"box":{"x":62,"y":155,"width":399,"height":11}},{"id":"a298ddd7-463d-4b86-9205-bc18d72896f6","block_type":"box","text":"Risk’). Closing positions held in the secondary markets","page_number":23,"box":{"x":63,"y":169,"width":398,"height":11}},{"id":"af9733f0-ae5c-4f4b-b4ac-a2123f30219c","block_type":"box","text":"prematurely, for instance to meet client redemption","page_number":23,"box":{"x":62,"y":182,"width":399,"height":11}},{"id":"e13bd4b2-4478-4398-85f7-26a41c541703","block_type":"box","text":"requests, can result in increased transaction costs","page_number":23,"box":{"x":63,"y":196,"width":398,"height":11}},{"id":"06c8f324-0c18-490b-8143-eb8c346a9c80","block_type":"box","text":"which will be reflected in the investment returns.","page_number":23,"box":{"x":62,"y":210,"width":354,"height":8}},{"id":"e9a51119-3f05-4b40-bc84-f2c1147c728d","block_type":"box","text":"(x)","page_number":23,"box":{"x":63,"y":229,"width":17,"height":11}},{"id":"7feac3c0-9365-4187-8dc9-3a6cc66ee2c2","block_type":"box","text":"Legal and Regulatory Risk","page_number":23,"box":{"x":110,"y":229,"width":212,"height":11}},{"id":"aee2bc0f-fd2d-4e8c-bce0-b9b4217af3cd","block_type":"box","text":"Legal, tax and regulatory changes could occur during","page_number":23,"box":{"x":63,"y":249,"width":398,"height":11}},{"id":"5124dcf5-407f-4f34-9bd1-4d902a9d3571","block_type":"box","text":"the term of a Sub-Fund.","page_number":23,"box":{"x":62,"y":262,"width":175,"height":9}},{"id":"7543369c-2d4a-4ec7-80e9-b8e8a67d5293","block_type":"box","text":"Over recent years global financial markets have","page_number":23,"box":{"x":62,"y":282,"width":399,"height":11}},{"id":"f19457ad-f200-45a4-b6c8-85d2026f2e34","block_type":"box","text":"undergone pervasive and fundamental disruption and","page_number":23,"box":{"x":63,"y":296,"width":398,"height":11}},{"id":"e8aef4a3-2186-4c23-a71c-b317693598bb","block_type":"box","text":"regulators in many jurisdictions have implemented or","page_number":23,"box":{"x":63,"y":310,"width":399,"height":11}},{"id":"fb86e6ff-55c9-4ddf-b0ce-a02606f80381","block_type":"box","text":"proposed a number of regulatory measures and may","page_number":23,"box":{"x":62,"y":323,"width":400,"height":11}},{"id":"66f2f94d-d1be-4daa-9056-67fe40d89c16","block_type":"box","text":"continue to do so. For example, the regulatory and tax","page_number":23,"box":{"x":62,"y":337,"width":400,"height":11}},{"id":"5ffd8423-e980-4d7d-aa46-c6158bf19fe4","block_type":"box","text":"environment for derivative instruments is evolving, and","page_number":23,"box":{"x":62,"y":350,"width":399,"height":12}},{"id":"d31bde31-0d70-4742-8f2b-e27d51c61eba","block_type":"box","text":"changes in the regulation or taxation of derivative","page_number":23,"box":{"x":62,"y":364,"width":399,"height":11}},{"id":"fa1bd697-1c92-4075-b3d7-ab740d8f8203","block_type":"box","text":"instruments may adversely affect the value of","page_number":23,"box":{"x":62,"y":378,"width":400,"height":11}},{"id":"b3b5991a-7d64-441f-8520-f0e12c4422af","block_type":"box","text":"derivative instruments held by a Sub-Fund and the","page_number":23,"box":{"x":62,"y":391,"width":399,"height":11}},{"id":"f121599d-9df1-45a1-89c1-152cf1ea1cff","block_type":"box","text":"ability of a Sub-Fund to pursue its trading strategies.","page_number":23,"box":{"x":62,"y":405,"width":399,"height":11}},{"id":"d068a35b-d87a-4e52-865f-1c143aa3b5b8","block_type":"box","text":"Further, legislation and regulation may render a","page_number":23,"box":{"x":63,"y":419,"width":399,"height":11}},{"id":"702d704f-683b-4196-828a-1633c087622e","block_type":"box","text":"transaction, to which a Sub-Fund is a party, void or","page_number":23,"box":{"x":62,"y":432,"width":400,"height":11}},{"id":"ac3203d0-fc7b-43cc-ad60-450429dd44dd","block_type":"box","text":"unenforceable.","page_number":23,"box":{"x":63,"y":446,"width":108,"height":9}},{"id":"e1be5348-343e-4a59-b076-9479cee20019","block_type":"box","text":"These interventions have sometimes been unclear in","page_number":23,"box":{"x":62,"y":466,"width":399,"height":8}},{"id":"aec7605f-af38-4230-b8a8-e3c92ebae8c7","block_type":"box","text":"scope and application, resulting in confusion and","page_number":23,"box":{"x":62,"y":479,"width":399,"height":11}},{"id":"feb2eaa9-a68c-4ce2-ba31-6e588517bcd5","block_type":"box","text":"uncertainty which in itself has been detrimental to the","page_number":23,"box":{"x":63,"y":493,"width":398,"height":11}},{"id":"55c98139-957b-4494-914e-8d52bfaaec06","block_type":"box","text":"efficient functioning of financial markets. It is","page_number":23,"box":{"x":62,"y":507,"width":399,"height":11}},{"id":"ce1f21d1-c414-4641-b7ca-ec3623f66b8b","block_type":"box","text":"impossible to predict with certainty what additional","page_number":23,"box":{"x":62,"y":520,"width":399,"height":11}},{"id":"c8789f5f-ba99-4220-a27a-20976abef8fb","block_type":"box","text":"interim or permanent governmental restrictions may be","page_number":23,"box":{"x":62,"y":534,"width":399,"height":11}},{"id":"34c00bac-6811-41f1-bc17-f63800dab17b","block_type":"box","text":"imposed in the future and/or the effect of such","page_number":23,"box":{"x":62,"y":547,"width":399,"height":11}},{"id":"6659aca4-50fa-48eb-9639-ccafcbb33b58","block_type":"box","text":"restrictions on global markets and the ACS Manager's","page_number":23,"box":{"x":63,"y":561,"width":398,"height":11}},{"id":"f5d0736b-3608-4268-abb6-05a73f0c0741","block_type":"box","text":"ability to implement a Sub-Fund’s investment","page_number":23,"box":{"x":62,"y":575,"width":400,"height":11}},{"id":"6d372cfd-7336-4cfa-83e1-cbf6a6c30b4a","block_type":"box","text":"objectives.","page_number":23,"box":{"x":62,"y":589,"width":77,"height":11}},{"id":"31446720-7f40-4d3c-9ef9-4ead66af0bff","block_type":"box","text":"(xi)","page_number":23,"box":{"x":63,"y":608,"width":21,"height":11}},{"id":"a7c07fbd-0ca6-4311-8e4c-32c2da7563ef","block_type":"box","text":"Market Risk","page_number":23,"box":{"x":110,"y":608,"width":95,"height":9}},{"id":"e023d9e4-10ca-438c-b7c8-0392a1840b6c","block_type":"box","text":"The price of a Sub-Fund’s investments, including,","page_number":23,"box":{"x":62,"y":628,"width":399,"height":11}},{"id":"408adcac-8df0-4714-a65f-36bd6e5d4170","block_type":"box","text":"without limitation, fixed income securities, equities and","page_number":23,"box":{"x":62,"y":641,"width":399,"height":11}},{"id":"0f4ef884-ad03-4bb9-b8ba-084b120db064","block_type":"box","text":"all derivative instruments, can be highly volatile. Price","page_number":23,"box":{"x":62,"y":655,"width":399,"height":11}},{"id":"b080e93b-9bed-4f7d-8603-7ca8079bd9d5","block_type":"box","text":"movements of fixed income securities, equities,","page_number":23,"box":{"x":62,"y":669,"width":398,"height":11}},{"id":"b04a906f-04db-4148-b72b-d12dc7294530","block_type":"box","text":"forward contracts, derivatives contracts and other","page_number":23,"box":{"x":62,"y":682,"width":400,"height":11}},{"id":"faeae349-398b-48b0-86e5-b5c29f98b1ac","block_type":"box","text":"instruments in which a Sub-Fund’s assets may be","page_number":23,"box":{"x":62,"y":696,"width":399,"height":11}},{"id":"744fe505-0c2a-4ba5-946f-00714f46af77","block_type":"box","text":"invested are influenced by, among other things,","page_number":23,"box":{"x":62,"y":710,"width":399,"height":11}},{"id":"46c9ca79-d5f6-4636-8531-e3459b1cdae8","block_type":"box","text":"interest rates, changing supply and demand","page_number":23,"box":{"x":62,"y":723,"width":399,"height":11}},{"id":"297049e4-5817-46be-8e48-c6a737678c1f","block_type":"box","text":"relationships, trade, fiscal, monetary and exchange","page_number":23,"box":{"x":63,"y":737,"width":398,"height":11}},{"id":"c8be64bc-7cb9-497b-9da1-d707d2473ff4","block_type":"box","text":"control programs and policies of governments, and","page_number":23,"box":{"x":62,"y":751,"width":399,"height":11}},{"id":"592cfb17-37a7-4e6f-9fbd-16c26b4dfa4a","block_type":"box","text":"national and international political and economic","page_number":23,"box":{"x":62,"y":764,"width":400,"height":11}},{"id":"edc500b6-88ae-40e8-9eb4-4630202f69b0","block_type":"box","text":"events and policies (see ‘Legal and Regulatory Risk’).","page_number":23,"box":{"x":62,"y":778,"width":398,"height":11}},{"id":"b340bb4a-9ab4-4d2f-83ca-1c03bbb6982f","block_type":"box","text":"Such intervention often is intended directly to influence","page_number":23,"box":{"x":62,"y":791,"width":399,"height":12}},{"id":"37e5c1fd-7cf0-45b7-ab70-ad03f61dffdc","block_type":"box","text":"prices and may, together with other factors, cause all","page_number":23,"box":{"x":62,"y":805,"width":399,"height":11}},{"id":"75c4a037-e38c-4b52-9b7e-c871e27fc78e","block_type":"box","text":"of such markets to move rapidly in the same direction","page_number":23,"box":{"x":62,"y":819,"width":399,"height":11}},{"id":"9d70928b-850a-49ca-9ee1-87765ac19baa","block_type":"box","text":"because of, among other things, interest rate","page_number":23,"box":{"x":62,"y":832,"width":399,"height":12}},{"id":"800d2b75-923d-43db-bc5c-b3f0dccb803c","block_type":"box","text":"fluctuations (see ‘Currency Risk and Interest Rate","page_number":23,"box":{"x":62,"y":846,"width":399,"height":11}},{"id":"e742d60d-5958-4a5d-b8e2-5ac4f691f790","block_type":"box","text":"Risk’).","page_number":23,"box":{"x":63,"y":860,"width":44,"height":11}},{"id":"5aa6f760-08b9-4cd1-9e8d-95f7097be4ab","block_type":"box","text":"(xii)","page_number":23,"box":{"x":63,"y":879,"width":24,"height":12}},{"id":"4b428319-7bf8-4075-afb6-d5f23b61ec00","block_type":"box","text":"New Issues","page_number":23,"box":{"x":110,"y":880,"width":91,"height":8}},{"id":"26020c26-49d5-4272-8a02-d4a3afe3fa8c","block_type":"box","text":"Sub-Funds may invest indirectly via an underlying fund","page_number":23,"box":{"x":62,"y":899,"width":399,"height":11}},{"id":"d4f06de8-0acd-4632-b2f0-fa809322875b","block_type":"box","text":"or directly in initial public offerings or new debt issues.","page_number":23,"box":{"x":62,"y":913,"width":399,"height":11}},{"id":"1d4ed7a8-b0dc-46b6-861d-8bea27f77d2b","block_type":"box","text":"The prices of securities involved in initial public","page_number":23,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"5d079221-91d5-4a60-83df-19d97b1652b0","block_type":"box","text":"offerings or new debt issues are often subject to","page_number":23,"box":{"x":523,"y":59,"width":400,"height":12}},{"id":"4432ecb1-ea60-487a-9872-a5fad144dfd3","block_type":"box","text":"greater and more unpredictable price changes than","page_number":23,"box":{"x":523,"y":73,"width":399,"height":11}},{"id":"15ae1a10-d94f-48f5-8f79-f60f38cab58a","block_type":"box","text":"more established securities.","page_number":23,"box":{"x":524,"y":87,"width":205,"height":9}},{"id":"f7ae21c1-03dd-499d-a4b3-f79e82495121","block_type":"box","text":"(xiii)","page_number":23,"box":{"x":524,"y":106,"width":28,"height":11}},{"id":"2511dbc3-5142-4cda-b35f-5fd2d9f67272","block_type":"box","text":"Settlement Risk","page_number":23,"box":{"x":572,"y":106,"width":126,"height":9}},{"id":"b524820b-4729-4c7e-86ea-48836a8d3bea","block_type":"box","text":"Settlement risk is the risk that a counterparty fails to","page_number":23,"box":{"x":523,"y":126,"width":400,"height":11}},{"id":"93794cf5-e7f0-490c-a435-3300ee7b4683","block_type":"box","text":"deliver the terms of a contract (i.e. defaults at","page_number":23,"box":{"x":523,"y":139,"width":400,"height":12}},{"id":"6763650c-a3fa-437a-8e4d-3cc7a4d73be6","block_type":"box","text":"settlement) and of any timing differences in settlement","page_number":23,"box":{"x":523,"y":153,"width":400,"height":11}},{"id":"94bfbeac-915b-41c6-b653-5a484c4ca0a6","block_type":"box","text":"between the two parties. Each Sub-Fund bears the risk","page_number":23,"box":{"x":524,"y":167,"width":399,"height":11}},{"id":"47a9235f-ff4c-4257-9205-d2243660e732","block_type":"box","text":"of settlement default due to exposure to the risk of","page_number":23,"box":{"x":523,"y":181,"width":400,"height":11}},{"id":"b25b3edf-d4ef-40b3-9fb6-e1350680665b","block_type":"box","text":"default of certain counterparties (see ‘Credit Risk’ and","page_number":23,"box":{"x":523,"y":194,"width":399,"height":11}},{"id":"13725e77-99ed-4d39-a553-1f196e3962ae","block_type":"box","text":"‘Counterparty Risk’). In addition, market practices in","page_number":23,"box":{"x":524,"y":208,"width":398,"height":11}},{"id":"4d3c2576-3345-4280-97e8-ac6660de71f1","block_type":"box","text":"relation to the settlement of transactions and the","page_number":23,"box":{"x":524,"y":221,"width":399,"height":9}},{"id":"e90093c8-971b-4861-a9ab-95dae538c804","block_type":"box","text":"custody of assets could provide increased risks (see","page_number":23,"box":{"x":523,"y":235,"width":400,"height":11}},{"id":"cb39bf0d-0839-4f09-acab-338f9f222d71","block_type":"box","text":"also ‘Market Risk’ and ‘Legal and Regulatory Risk’).","page_number":23,"box":{"x":523,"y":249,"width":382,"height":11}},{"id":"e5732dc3-e192-4fc8-a482-23ae50f7084b","block_type":"box","text":"(xiv)","page_number":23,"box":{"x":524,"y":268,"width":29,"height":11}},{"id":"c2762744-b1f6-4f06-bb0f-83578c27f848","block_type":"box","text":"Tax","page_number":23,"box":{"x":573,"y":269,"width":28,"height":8}},{"id":"d3aa4301-d17d-4362-b320-6c0fc3d9e51a","block_type":"box","text":"The information provided in section 27 is based, to the","page_number":23,"box":{"x":523,"y":288,"width":400,"height":11}},{"id":"b71a0333-3ab3-48ba-bd92-ab9e3e019d8e","block_type":"box","text":"best knowledge of the ACS Manager, upon tax law and","page_number":23,"box":{"x":524,"y":302,"width":398,"height":11}},{"id":"d60228de-9418-4ab9-ad58-5fe7b69312f6","block_type":"box","text":"practice as at the date of this Prospectus. Tax","page_number":23,"box":{"x":524,"y":315,"width":399,"height":11}},{"id":"83965345-662a-46b1-b409-35da31036506","block_type":"box","text":"legislation, the tax status of the ACS Manager and the","page_number":23,"box":{"x":524,"y":329,"width":399,"height":11}},{"id":"2b95a1fd-808d-46b5-af35-0aa4adcdb3da","block_type":"box","text":"Sub-Funds, the taxation of Unitholders and any tax","page_number":23,"box":{"x":523,"y":343,"width":400,"height":11}},{"id":"ee37ad4d-1f0f-4ae9-8973-16f561c6fd13","block_type":"box","text":"reliefs, and the consequences of such tax status and","page_number":23,"box":{"x":524,"y":356,"width":398,"height":11}},{"id":"92aac244-bd8d-4216-a982-3780325aab7a","block_type":"box","text":"tax reliefs, may change from time to time. Any change","page_number":23,"box":{"x":523,"y":370,"width":400,"height":11}},{"id":"ebef40dc-4f0e-4d3d-a0d6-cb83859efc54","block_type":"box","text":"in the taxation legislation in UK or in any jurisdiction","page_number":23,"box":{"x":524,"y":384,"width":398,"height":11}},{"id":"eb5734da-8ae8-42c9-b8b8-50026e29a216","block_type":"box","text":"where a Sub-Fund is registered, marketed or invested","page_number":23,"box":{"x":523,"y":397,"width":399,"height":11}},{"id":"17f4d0d0-b173-4ebe-a26e-54c3c879b1d2","block_type":"box","text":"could affect the tax status of the Sub-Funds, affect the","page_number":23,"box":{"x":523,"y":411,"width":400,"height":10}},{"id":"8a3c0235-fa18-4274-b03b-1ea2c94eee95","block_type":"box","text":"value of the relevant Sub-Fund's investments in the","page_number":23,"box":{"x":523,"y":424,"width":400,"height":9}},{"id":"c6e138e0-0830-4e73-85f7-7cc653afd4fd","block_type":"box","text":"affected jurisdiction, affect the relevant Sub-Fund's","page_number":23,"box":{"x":523,"y":438,"width":400,"height":11}},{"id":"eebc48c1-796b-4a25-88fc-67bf2d987d4f","block_type":"box","text":"ability to achieve its investment objective, and/or alter","page_number":23,"box":{"x":523,"y":452,"width":400,"height":11}},{"id":"2511bb14-57f9-499f-9676-f3f821c26a3a","block_type":"box","text":"the post-tax returns to Unitholders. Where the Sub","page_number":23,"box":{"x":523,"y":466,"width":400,"height":11}},{"id":"d7b34194-4bf6-41df-955b-8396adc24dbb","block_type":"box","text":"Fund invests in derivatives the preceding sentence","page_number":23,"box":{"x":524,"y":479,"width":399,"height":11}},{"id":"a67dc1c0-0dd0-4c1f-ab2d-a6961f5f2bfa","block_type":"box","text":"may also extend to the jurisdiction of the governing law","page_number":23,"box":{"x":524,"y":493,"width":399,"height":11}},{"id":"7b3537db-586f-421f-ad69-62b77859e9b7","block_type":"box","text":"of the derivative contract and/or the derivative","page_number":23,"box":{"x":523,"y":506,"width":400,"height":9}},{"id":"44bc6766-ce7b-47c0-859f-ee860d0568d8","block_type":"box","text":"counterparty and/or to the market(s) comprising the","page_number":23,"box":{"x":523,"y":520,"width":400,"height":11}},{"id":"9de48dea-821e-4a39-aae5-5cc1b0b9dd0d","block_type":"box","text":"underlying exposure(s) of the derivative.","page_number":23,"box":{"x":524,"y":534,"width":296,"height":11}},{"id":"25af6706-3b26-4b8c-91a1-942256d5e73f","block_type":"box","text":"The availability and value of any tax reliefs available to","page_number":23,"box":{"x":523,"y":553,"width":400,"height":12}},{"id":"6310d9ef-6ec5-445e-9abf-7e72fab1543c","block_type":"box","text":"Unitholders depend on the individual circumstances of","page_number":23,"box":{"x":524,"y":567,"width":399,"height":11}},{"id":"8855d42b-f371-4152-9f15-9e7b1e42adb9","block_type":"box","text":"Unitholders. The information in section 27 is not","page_number":23,"box":{"x":524,"y":581,"width":399,"height":9}},{"id":"f7cabdc1-7354-45c0-8691-024ce97fa58c","block_type":"box","text":"exhaustive and does not constitute legal or tax advice.","page_number":23,"box":{"x":523,"y":595,"width":399,"height":11}},{"id":"93561620-d5d9-4038-a514-69689680b768","block_type":"box","text":"Prospective Unitholders are urged to consult their tax","page_number":23,"box":{"x":524,"y":608,"width":399,"height":11}},{"id":"858f51a8-60f2-4117-9c41-dc61b1885468","block_type":"box","text":"advisors with respect to their particular tax situations","page_number":23,"box":{"x":523,"y":622,"width":400,"height":11}},{"id":"0269ed93-cf07-40c8-a4f0-70b60b467b76","block_type":"box","text":"and the tax effects of an investment in the Sub-Funds.","page_number":23,"box":{"x":523,"y":635,"width":399,"height":9}},{"id":"884790ad-b984-4080-be7e-d8be73c6f569","block_type":"box","text":"Where a Sub-Fund invests in a jurisdiction where the","page_number":23,"box":{"x":523,"y":655,"width":400,"height":11}},{"id":"33e2ad6c-bf6a-4de1-9ac1-d311eb685ada","block_type":"box","text":"tax regime is not fully developed or is not sufficiently","page_number":23,"box":{"x":523,"y":669,"width":400,"height":11}},{"id":"d1eac893-527b-4eb4-9783-f55053a1dcdb","block_type":"box","text":"certain, for example jurisdictions in the Middle East,","page_number":23,"box":{"x":523,"y":682,"width":399,"height":11}},{"id":"7debb6aa-9138-4b04-8e61-9df918d994bf","block_type":"box","text":"the relevant Sub-Fund, the ACS Manager, the","page_number":23,"box":{"x":523,"y":696,"width":400,"height":11}},{"id":"1fcc431a-49a5-4b70-b215-e81ecc915672","block_type":"box","text":"Investment Managers, the Depositary and the","page_number":23,"box":{"x":524,"y":710,"width":399,"height":11}},{"id":"e29ae183-24cf-4dc2-bd7a-e0e32df5b1e8","block_type":"box","text":"Administrator shall not be liable to account to any","page_number":23,"box":{"x":523,"y":723,"width":400,"height":11}},{"id":"17436d00-ca45-4b0b-b9fb-1752e7ec7cff","block_type":"box","text":"Unitholder for any payment made or suffered by the","page_number":23,"box":{"x":524,"y":737,"width":399,"height":11}},{"id":"ee0d6bb0-5199-481c-b3ec-870506a988bc","block_type":"box","text":"relevant Sub-Fund in good faith to a fiscal authority for","page_number":23,"box":{"x":524,"y":750,"width":399,"height":12}},{"id":"4ed666d0-467a-4b04-b86d-baf14b78dd35","block_type":"box","text":"taxes or other charges of the Sub-Fund","page_number":23,"box":{"x":523,"y":764,"width":399,"height":11}},{"id":"fac9d569-b2e1-40ab-aef9-a0b070a5afdd","block_type":"box","text":"notwithstanding that it is later found that such","page_number":23,"box":{"x":524,"y":778,"width":398,"height":11}},{"id":"fa09dff9-8568-451d-ace7-1e604e4d85f3","block_type":"box","text":"payments need not or ought not have been made or","page_number":23,"box":{"x":524,"y":792,"width":399,"height":11}},{"id":"19e51920-e003-408d-8a3f-3e91edf6adbe","block_type":"box","text":"suffered. Conversely, where through fundamental","page_number":23,"box":{"x":523,"y":805,"width":399,"height":11}},{"id":"dd4d8e6d-2f34-4386-87c5-8a258b9b23f5","block_type":"box","text":"uncertainty as to the tax liability, adherence to best or","page_number":23,"box":{"x":524,"y":819,"width":399,"height":11}},{"id":"ace4d8a2-3287-44e3-b666-abd91acc424c","block_type":"box","text":"common market practice (to the extent that there is no","page_number":23,"box":{"x":523,"y":832,"width":400,"height":12}},{"id":"265d2f13-4f92-416e-a952-bdfd9d9e6566","block_type":"box","text":"established best practice) is subsequently challenged","page_number":23,"box":{"x":523,"y":846,"width":399,"height":11}},{"id":"7cc48232-1d0c-4d47-9da1-9d06cbec782d","block_type":"box","text":"or the lack of a developed mechanism for practical and","page_number":23,"box":{"x":523,"y":860,"width":399,"height":11}},{"id":"62b57327-a859-4181-bccf-939177f507bd","block_type":"box","text":"timely payment of taxes, the relevant Sub-Fund pays","page_number":23,"box":{"x":523,"y":873,"width":400,"height":12}},{"id":"7e15a6b3-5dfb-43d0-a476-f9fb9fcf4887","block_type":"box","text":"taxes relating to previous years, any related interest or","page_number":23,"box":{"x":523,"y":887,"width":400,"height":11}},{"id":"7cf2aae2-f6e3-4389-adab-c2639c35f50e","block_type":"box","text":"late filing penalties will likewise be chargeable to the","page_number":23,"box":{"x":524,"y":901,"width":399,"height":11}},{"id":"641e2b9f-cbca-4f8a-8758-ae2c1d1f542a","block_type":"box","text":"Sub-Fund. Such late paid taxes will normally be","page_number":23,"box":{"x":523,"y":914,"width":400,"height":12}},{"id":"56b420b3-437d-4191-99ae-8412b9fa924b","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 24","page_number":24,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"868183fe-0471-4d3b-b6d2-1ed0065cff16","block_type":"box","text":"debited to the Sub-Fund at the point the decision to","page_number":24,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"3af433fc-50b8-4481-9ea9-a92e00f308ee","block_type":"box","text":"accrue the liability in the Sub-Fund accounts is made.","page_number":24,"box":{"x":62,"y":59,"width":396,"height":12}},{"id":"06b5d5b9-8c52-492b-af15-0ac27232ae87","block_type":"box","text":"(xv)","page_number":24,"box":{"x":63,"y":79,"width":25,"height":11}},{"id":"1c0b9650-0d26-4b7a-b265-48e0c066af21","block_type":"box","text":"Valuation Risk","page_number":24,"box":{"x":112,"y":79,"width":114,"height":9}},{"id":"b2e955bd-8291-4607-ad62-a89e6075314b","block_type":"box","text":"Financial instruments that are illiquid and/or not","page_number":24,"box":{"x":63,"y":99,"width":399,"height":11}},{"id":"b22994df-af1c-4c95-b72c-68f0c1182e78","block_type":"box","text":"publicly traded may not have readily available prices","page_number":24,"box":{"x":62,"y":112,"width":399,"height":11}},{"id":"835c0946-a26d-43ed-b2db-f41725320890","block_type":"box","text":"and may therefore be difficult to value. Dealer supplied","page_number":24,"box":{"x":62,"y":126,"width":399,"height":11}},{"id":"e4686b2f-addd-4559-9910-50414e363fe2","block_type":"box","text":"quotations or pricing models developed by third","page_number":24,"box":{"x":62,"y":140,"width":399,"height":11}},{"id":"08e6386b-1268-400d-a99b-73744f07ac8d","block_type":"box","text":"parties, the ACS Manager, its affiliates and/or","page_number":24,"box":{"x":62,"y":153,"width":400,"height":11}},{"id":"554ccb11-4736-42bf-affb-4834303b8fc8","block_type":"box","text":"delegates, may be utilised in valuations and the","page_number":24,"box":{"x":62,"y":167,"width":399,"height":11}},{"id":"6e7ceef6-189b-4ddd-8408-83bee099330f","block_type":"box","text":"calculation of the net asset value of each Sub-Fund.","page_number":24,"box":{"x":62,"y":180,"width":399,"height":9}},{"id":"5c84259a-52bf-42f1-89f7-da7585d01444","block_type":"box","text":"Such methodologies may be based upon assumptions","page_number":24,"box":{"x":62,"y":194,"width":399,"height":11}},{"id":"e4b4f818-c95f-4179-95d6-1125f100f8c6","block_type":"box","text":"and estimates that are subject to error. Unitholders","page_number":24,"box":{"x":62,"y":208,"width":399,"height":11}},{"id":"96eed5e5-820d-4a78-9081-cfcf55c6df1e","block_type":"box","text":"should be aware that in these circumstances a","page_number":24,"box":{"x":62,"y":222,"width":400,"height":8}},{"id":"519a23f4-cd16-478a-820e-9e1632a3e6cc","block_type":"box","text":"possible conflict of interest may arise, as the higher the","page_number":24,"box":{"x":62,"y":235,"width":399,"height":11}},{"id":"e8fc4029-92eb-4111-8c4d-a5bac731eb72","block_type":"box","text":"estimated valuation of the securities the higher the","page_number":24,"box":{"x":62,"y":249,"width":399,"height":11}},{"id":"f5c80644-91f2-421a-90d3-4d69902ffb6e","block_type":"box","text":"fees payable to the ACS Manager, Investment","page_number":24,"box":{"x":62,"y":262,"width":400,"height":12}},{"id":"c9e82aa2-c518-492d-b681-f618f97982a9","block_type":"box","text":"Managers or the Administrator. Any party providing","page_number":24,"box":{"x":63,"y":276,"width":398,"height":11}},{"id":"f5b7adec-8a87-4df3-9936-459a0265b6a6","block_type":"box","text":"valuation services may, in the absence of its","page_number":24,"box":{"x":62,"y":290,"width":399,"height":11}},{"id":"398ff759-6c65-4bd1-b707-215b1b422569","block_type":"box","text":"negligence, be indemnified out of the property of the","page_number":24,"box":{"x":62,"y":303,"width":399,"height":12}},{"id":"94ad706d-7f4c-4bf9-ad5b-7e83e051eb10","block_type":"box","text":"relevant Sub-Fund from all claims and losses which","page_number":24,"box":{"x":63,"y":317,"width":398,"height":9}},{"id":"5d071ae3-c359-4c5b-980f-0fba91f9e874","block_type":"box","text":"such party may incur directly or indirectly arising out of","page_number":24,"box":{"x":62,"y":331,"width":400,"height":11}},{"id":"631fec2c-dca6-4e1c-a07c-be6cd2f09bd1","block_type":"box","text":"or in connection with the performance of such","page_number":24,"box":{"x":62,"y":344,"width":399,"height":12}},{"id":"479bd035-0ccd-4798-95a9-e142cd984e81","block_type":"box","text":"valuation services. In addition, given the nature of such","page_number":24,"box":{"x":62,"y":358,"width":399,"height":11}},{"id":"c92b886a-502c-4c4f-b131-bb36fcb9368c","block_type":"box","text":"investment, determinations as to their fair value may","page_number":24,"box":{"x":62,"y":372,"width":400,"height":11}},{"id":"02679287-a889-4cc4-926a-fb8a9cb83181","block_type":"box","text":"not represent the actual amount that will be realised","page_number":24,"box":{"x":62,"y":386,"width":399,"height":10}},{"id":"9f3cd0f2-eb29-463a-809b-a23cc574dc60","block_type":"box","text":"upon the eventual disposal of such investments.","page_number":24,"box":{"x":63,"y":399,"width":355,"height":11}},{"id":"78bdd1c7-dafc-45ff-a07f-63f09cc63e8a","block_type":"box","text":"(xvi)","page_number":24,"box":{"x":63,"y":419,"width":29,"height":11}},{"id":"bf7e1dcc-3cd0-4457-9931-8ddf6d184b44","block_type":"box","text":"Suspension and Deferral of dealings","page_number":24,"box":{"x":110,"y":419,"width":291,"height":11}},{"id":"9d5dd085-e358-475f-9489-f677bc948a46","block_type":"box","text":"In certain circumstances the right to redeem Units may","page_number":24,"box":{"x":63,"y":438,"width":399,"height":11}},{"id":"53eb83cc-6db5-47da-947b-6b02bca88515","block_type":"box","text":"be deferred or suspended (see the sections 13 (f) and","page_number":24,"box":{"x":62,"y":452,"width":399,"height":11}},{"id":"e8486869-84d4-4154-b276-2ce7dc44f1a0","block_type":"box","text":"13 (h)).","page_number":24,"box":{"x":63,"y":466,"width":51,"height":11}},{"id":"36265a1f-cdb6-4965-87ff-92b0391cf47c","block_type":"box","text":"The Sub-Funds are open-ended; therefore, there may","page_number":24,"box":{"x":62,"y":485,"width":400,"height":11}},{"id":"99bcad7e-4c61-40fe-a958-10f90ca3fa0f","block_type":"box","text":"be a large amount of subscriptions or redemptions of","page_number":24,"box":{"x":62,"y":499,"width":400,"height":11}},{"id":"1e752101-db91-4fd5-a070-2fce05758f96","block_type":"box","text":"Units during a short period of time. Large levels of","page_number":24,"box":{"x":63,"y":513,"width":399,"height":11}},{"id":"25522063-a166-4715-94f8-5493f9e6ad5d","block_type":"box","text":"redemption requests may cause a Sub-Fund to","page_number":24,"box":{"x":63,"y":526,"width":398,"height":11}},{"id":"29221fbc-947d-4a0b-bf4c-86cc7a3ce93c","block_type":"box","text":"liquidate its investments over a shorter period than it","page_number":24,"box":{"x":62,"y":540,"width":400,"height":11}},{"id":"55d311ff-b9f3-4cba-8e53-3be108c4a473","block_type":"box","text":"would otherwise have taken in order to meet such","page_number":24,"box":{"x":62,"y":554,"width":399,"height":8}},{"id":"036f6b7e-2999-47dc-a3a0-c779b4eae274","block_type":"box","text":"redemption requests. This may affect the Net Asset","page_number":24,"box":{"x":63,"y":567,"width":399,"height":11}},{"id":"0d18f966-d1f8-4601-a120-b08b334d1036","block_type":"box","text":"Value of the Scheme Property and consequently the","page_number":24,"box":{"x":62,"y":581,"width":399,"height":11}},{"id":"c0e02aa7-db0b-4756-942f-de434db54c63","block_type":"box","text":"Net Asset Value per Unit may fall.","page_number":24,"box":{"x":63,"y":594,"width":248,"height":12}},{"id":"8f6f467d-64f8-4fdd-89da-bd4ea2e0d59c","block_type":"box","text":"(xvii)","page_number":24,"box":{"x":74,"y":614,"width":34,"height":11}},{"id":"82a19bc4-e854-4fc7-8cba-9d67cbec5696","block_type":"box","text":"Delivery Versus Payment (“DvP”)","page_number":24,"box":{"x":129,"y":614,"width":265,"height":11}},{"id":"63286cc6-67f8-4d27-abb8-9235125982a8","block_type":"box","text":"Exemption","page_number":24,"box":{"x":123,"y":628,"width":85,"height":11}},{"id":"7c5a9357-f106-4fe4-9441-70e282c39b18","block_type":"box","text":"The ACS Manager may apply the Delivery versus","page_number":24,"box":{"x":74,"y":647,"width":387,"height":11}},{"id":"ae750b98-6853-400e-aee8-467ac5fb92c8","block_type":"box","text":"Payment (“DvP”) exemption for Unitholders that","page_number":24,"box":{"x":75,"y":661,"width":387,"height":11}},{"id":"65fa568a-11ed-4535-979d-e2802e7cce0d","block_type":"box","text":"consent, as set out in the FCA Client Asset Rules","page_number":24,"box":{"x":74,"y":674,"width":387,"height":11}},{"id":"3b802ce8-397a-4726-b7a5-5e2d90a708af","block_type":"box","text":"(“CASS Rules”) governing the protection of client","page_number":24,"box":{"x":74,"y":688,"width":388,"height":11}},{"id":"d267074c-5b32-4144-be6f-f0a6cf3b63d5","block_type":"box","text":"assets. Usually, when the ACS Manager receives","page_number":24,"box":{"x":74,"y":702,"width":387,"height":11}},{"id":"55079f6d-ece5-406f-b460-cd1917147eb9","block_type":"box","text":"Unitholders’ money in the course of settling","page_number":24,"box":{"x":75,"y":716,"width":386,"height":11}},{"id":"4f0bb2ee-e416-4621-a949-fe0f62c4cbbd","block_type":"box","text":"transactions the ACS Manager is obliged to handle","page_number":24,"box":{"x":74,"y":729,"width":387,"height":11}},{"id":"8901047c-ab61-49d6-bb57-c2302e691dae","block_type":"box","text":"money received or held in the course of or in","page_number":24,"box":{"x":74,"y":743,"width":387,"height":11}},{"id":"3456c85d-44fe-45c0-a048-50b6be7cfff6","block_type":"box","text":"connection with the issue or redemption of Units","page_number":24,"box":{"x":74,"y":757,"width":387,"height":11}},{"id":"ff96c038-dac6-45fb-8fcb-cdc11da06bee","block_type":"box","text":"(“Client Money”) in accordance with the CASS Rules,","page_number":24,"box":{"x":74,"y":770,"width":387,"height":11}},{"id":"b75e7322-82e0-4f46-9fb6-0aa87449c010","block_type":"box","text":"which amongst other provisions require the ACS","page_number":24,"box":{"x":74,"y":784,"width":387,"height":11}},{"id":"d348748f-fbd5-4f03-8b33-32e82be69e6e","block_type":"box","text":"Manager to segregate Client Money from the assets","page_number":24,"box":{"x":75,"y":797,"width":386,"height":12}},{"id":"1f5c49e9-a315-42ad-8303-0ee204a3046d","block_type":"box","text":"of the ACS Manager. The DvP exemption provides","page_number":24,"box":{"x":74,"y":811,"width":387,"height":11}},{"id":"4467c787-41c1-4bab-9945-710b4d0433e4","block_type":"box","text":"for a one business day window during which","page_number":24,"box":{"x":74,"y":825,"width":387,"height":11}},{"id":"994c537e-3cda-4e5e-a9a8-23b1a270d11e","block_type":"box","text":"Unitholders’ money held by the ACS Manager for the","page_number":24,"box":{"x":75,"y":838,"width":386,"height":12}},{"id":"85ebfc4f-a1d6-429b-8105-2bc50cf8193d","block_type":"box","text":"purposes of settling a transaction in Units is not","page_number":24,"box":{"x":74,"y":852,"width":388,"height":11}},{"id":"38316a45-77b0-429e-ab5b-523f468f4368","block_type":"box","text":"treated as Client Money. In the event that the ACS","page_number":24,"box":{"x":74,"y":866,"width":387,"height":11}},{"id":"5a0a2f87-60d2-4ce9-b8c5-af07fb74d255","block_type":"box","text":"Manager becomes insolvent or otherwise fails, there","page_number":24,"box":{"x":75,"y":879,"width":386,"height":12}},{"id":"09f3e4c3-9f44-4a04-9477-2b9367cf08a9","block_type":"box","text":"is a risk of loss or delay in the return of any","page_number":24,"box":{"x":74,"y":893,"width":388,"height":11}},{"id":"3bb798a1-9ad9-435c-b7c1-399c54f6cbd6","block_type":"box","text":"Unitholders’ money held by the ACS Manager which","page_number":24,"box":{"x":75,"y":907,"width":386,"height":11}},{"id":"516cfbbd-1e11-4dff-8df9-5530bb2b482e","block_type":"box","text":"is not treated as Client Money. Money which is not","page_number":24,"box":{"x":536,"y":46,"width":387,"height":11}},{"id":"b901eb93-1571-4484-b077-da305bf87af2","block_type":"box","text":"treated as Client Money is not protected on the","page_number":24,"box":{"x":535,"y":59,"width":388,"height":12}},{"id":"0af9a448-6833-4865-9311-d9adff1472d4","block_type":"box","text":"insolvency of the ACS Manager and will form part of","page_number":24,"box":{"x":536,"y":73,"width":387,"height":11}},{"id":"7aa86e4e-a507-414d-9038-e19aaa59c5f0","block_type":"box","text":"the ACS Manager’s insolvent estate.","page_number":24,"box":{"x":535,"y":87,"width":270,"height":11}},{"id":"915705f5-4c91-45e8-99e3-f7ec856f0186","block_type":"box","text":"(xviii)","page_number":24,"box":{"x":554,"y":106,"width":37,"height":11}},{"id":"651157ae-3ab5-4385-a913-53643b4609b4","block_type":"box","text":"Exclusion Policies","page_number":24,"box":{"x":619,"y":106,"width":147,"height":9}},{"id":"ebec5158-1d5d-4325-a138-edff09ad00e0","block_type":"box","text":"Where a Sub-Fund applies an exclusion policy (for","page_number":24,"box":{"x":523,"y":126,"width":400,"height":11}},{"id":"037f776d-f916-4448-9085-f969f6d00550","block_type":"box","text":"example, the Aviva Investors’ baseline exclusion","page_number":24,"box":{"x":523,"y":140,"width":399,"height":11}},{"id":"5b7170b1-2a65-4715-ba24-4b8e4048ad5b","block_type":"box","text":"policy) or ESG-based exclusionary criteria in its","page_number":24,"box":{"x":524,"y":153,"width":399,"height":11}},{"id":"d25b0b75-ec58-46b5-81ee-35935c0494ac","block_type":"box","text":"investment selection process, this may result in the","page_number":24,"box":{"x":524,"y":167,"width":399,"height":11}},{"id":"93373f08-8d60-485e-94c6-54d63df9f2e2","block_type":"box","text":"relevant Sub-Fund foregoing opportunities to buy","page_number":24,"box":{"x":524,"y":180,"width":399,"height":12}},{"id":"49c05686-26cc-49d5-a918-a155324087a5","block_type":"box","text":"certain investments when it might otherwise be","page_number":24,"box":{"x":523,"y":194,"width":400,"height":11}},{"id":"0324bc78-2565-4c28-b2d7-b35b863d9b65","block_type":"box","text":"advantageous to do so, and/or selling investments","page_number":24,"box":{"x":523,"y":208,"width":400,"height":11}},{"id":"fb14cc5b-5ac1-4495-a735-cedef64ec34b","block_type":"box","text":"when it might be disadvantageous to do so.","page_number":24,"box":{"x":523,"y":222,"width":321,"height":11}},{"id":"0c569b67-629e-46e8-b39a-fa1725b06003","block_type":"box","text":"(b)","page_number":24,"box":{"x":536,"y":247,"width":18,"height":11}},{"id":"7136febb-160d-4929-8d31-359dfa1e4e5c","block_type":"box","text":"Risks Associated with Investment","page_number":24,"box":{"x":583,"y":247,"width":340,"height":9}},{"id":"5eebb05b-255d-4538-a9c3-947bdc8ff188","block_type":"box","text":"Techniques","page_number":24,"box":{"x":582,"y":261,"width":93,"height":11}},{"id":"96010e3e-54a9-4421-bd1c-830aee2b468e","block_type":"box","text":"(i)","page_number":24,"box":{"x":524,"y":280,"width":12,"height":11}},{"id":"314b39b4-9945-4e83-9cc3-666ed30d40e7","block_type":"box","text":"Delayed Delivery Transactions","page_number":24,"box":{"x":572,"y":280,"width":242,"height":11}},{"id":"5fb7ba64-4a59-4d39-b2ec-79383171c28e","block_type":"box","text":"Each Sub-Fund that invests in fixed income","page_number":24,"box":{"x":524,"y":300,"width":399,"height":9}},{"id":"ce2f8f27-7d0e-42e8-8ee0-e3cf1752cd3e","block_type":"box","text":"transferable securities may purchase TBAs, for","page_number":24,"box":{"x":523,"y":314,"width":400,"height":11}},{"id":"4bc0715d-cec3-4a6b-821c-b569e65236b1","block_type":"box","text":"example US mortgages. This generally refers to a","page_number":24,"box":{"x":523,"y":327,"width":400,"height":11}},{"id":"18f0d61e-0613-41fa-bd19-b1b641f7ac7f","block_type":"box","text":"forward contract on a pool of mortgages in which the","page_number":24,"box":{"x":523,"y":341,"width":400,"height":11}},{"id":"0c061b28-ac80-4940-ac80-b96c482cd446","block_type":"box","text":"specific mortgages are not announced and allocated","page_number":24,"box":{"x":523,"y":354,"width":399,"height":12}},{"id":"5a14d142-5699-4d5a-9c53-3e35cd181ba4","block_type":"box","text":"prior to a specified delivery date. TBAs are not settled","page_number":24,"box":{"x":524,"y":368,"width":398,"height":11}},{"id":"4fb8aba1-7a16-4f2f-a872-44c8d5981dfd","block_type":"box","text":"at the time of purchase, which may lead to leveraged","page_number":24,"box":{"x":523,"y":382,"width":399,"height":11}},{"id":"8705762b-e9bc-4898-a424-67746fcec53b","block_type":"box","text":"positions within a Sub-Fund. Purchasing a TBA","page_number":24,"box":{"x":524,"y":395,"width":399,"height":12}},{"id":"f57f7452-2d2d-4f8c-a6c3-11d59a2fd66e","block_type":"box","text":"involves a risk of loss if the value of the security to be","page_number":24,"box":{"x":524,"y":409,"width":399,"height":11}},{"id":"f76ff7c8-0d41-4d98-b593-e41b3bec7f7b","block_type":"box","text":"purchased declines prior to the settlement date and","page_number":24,"box":{"x":524,"y":423,"width":398,"height":11}},{"id":"6f22e73e-2a35-4af6-9171-6f7f43d0a6f5","block_type":"box","text":"exposes a Sub-Fund to additional counterparty default","page_number":24,"box":{"x":523,"y":436,"width":400,"height":12}},{"id":"c4d30e41-6568-4a9b-beec-b1413747f297","block_type":"box","text":"risk. A Sub-Fund may dispose of a commitment prior","page_number":24,"box":{"x":524,"y":450,"width":399,"height":11}},{"id":"1942676a-4b7c-4fc0-b208-1cb59e1ebf34","block_type":"box","text":"to settlement if it is deemed appropriate to do so.","page_number":24,"box":{"x":523,"y":464,"width":399,"height":11}},{"id":"4cfe4a4d-ef17-479b-837b-c08e346169ea","block_type":"box","text":"Proceeds of TBA sales are not received until the","page_number":24,"box":{"x":524,"y":477,"width":399,"height":9}},{"id":"72c62459-a62a-4cba-96bd-4d47329c1241","block_type":"box","text":"contractual settlement date. TBAs will be treated as","page_number":24,"box":{"x":523,"y":491,"width":400,"height":9}},{"id":"f6417a6b-583a-43b0-9376-39f57a97c671","block_type":"box","text":"derivative instruments.","page_number":24,"box":{"x":523,"y":505,"width":166,"height":9}},{"id":"8f1563a4-2936-4e73-9d00-a81af81fd7b9","block_type":"box","text":"(ii)","page_number":24,"box":{"x":524,"y":524,"width":16,"height":11}},{"id":"517a1222-68af-4562-989d-92857aabc949","block_type":"box","text":"Derivatives (General)","page_number":24,"box":{"x":572,"y":524,"width":167,"height":11}},{"id":"b10c9640-a3ef-40e7-94a1-e135c6ef51b8","block_type":"box","text":"In accordance with the investment restrictions set out","page_number":24,"box":{"x":524,"y":544,"width":399,"height":9}},{"id":"e43d83d1-4b0a-43df-ad07-e792ed05c99b","block_type":"box","text":"in Appendix 6, each of the Sub-Funds may use","page_number":24,"box":{"x":524,"y":557,"width":399,"height":12}},{"id":"745d2a98-b480-4107-be05-375e41119ba6","block_type":"box","text":"derivatives for the purposes of “efficient portfolio","page_number":24,"box":{"x":523,"y":571,"width":400,"height":11}},{"id":"146d7a7b-c6ce-4ec5-94b6-54375ebe3d21","block_type":"box","text":"management” (in order to reduce risk and/or costs)","page_number":24,"box":{"x":524,"y":585,"width":398,"height":11}},{"id":"e723a44e-5912-4ebc-99e0-c1f2c610a3d4","block_type":"box","text":"and/or to achieve the investment objective (to","page_number":24,"box":{"x":523,"y":598,"width":400,"height":12}},{"id":"fcd5cf56-9080-4803-9f53-c321b9a9fb8e","block_type":"box","text":"generate additional income or capital), as further","page_number":24,"box":{"x":523,"y":612,"width":400,"height":11}},{"id":"ce391566-da90-4a0b-9306-5bfeab5ac685","block_type":"box","text":"described in Appendix 6.","page_number":24,"box":{"x":523,"y":626,"width":182,"height":11}},{"id":"b9b2d454-6b7d-49ca-90a9-94ca89e8bbb3","block_type":"box","text":"The use of derivatives may expose any Sub-Fund to a","page_number":24,"box":{"x":523,"y":645,"width":400,"height":12}},{"id":"5c951a21-b612-4102-8bd0-f40a127743a1","block_type":"box","text":"certain degree of risk. These risks may include credit","page_number":24,"box":{"x":523,"y":659,"width":400,"height":11}},{"id":"1fffedd1-84ac-48e8-a062-c68293a12454","block_type":"box","text":"risk with regard to counterparties with whom a Sub","page_number":24,"box":{"x":524,"y":673,"width":399,"height":11}},{"id":"1ae64d55-b7ad-4171-b9de-1c712554d99b","block_type":"box","text":"Fund trades, the risk of settlement default, lack of","page_number":24,"box":{"x":524,"y":686,"width":399,"height":11}},{"id":"a5ae5239-47a9-4f7e-9d82-4aac42c0c1c1","block_type":"box","text":"liquidity of the derivative, imperfect tracking between","page_number":24,"box":{"x":524,"y":700,"width":398,"height":11}},{"id":"9ac543ea-256f-403c-ab7a-fef114c0f1a9","block_type":"box","text":"the change in value of the derivative and the change","page_number":24,"box":{"x":523,"y":714,"width":400,"height":11}},{"id":"8da4ce07-2254-4ad4-8360-edaa332c14f5","block_type":"box","text":"in value of the underlying asset that the relevant Sub","page_number":24,"box":{"x":524,"y":727,"width":399,"height":12}},{"id":"8c1e609d-0439-4adf-89e3-27adc9aaa4fa","block_type":"box","text":"Fund is seeking to track and greater transaction costs","page_number":24,"box":{"x":524,"y":741,"width":399,"height":11}},{"id":"d8c50b09-ecc4-429d-a01d-5ba67e935c97","block_type":"box","text":"than investing in the underlying assets directly.","page_number":24,"box":{"x":523,"y":755,"width":345,"height":11}},{"id":"30e41f44-4094-4c68-9369-fdf3229e0b9d","block_type":"box","text":"In accordance with standard industry practice when","page_number":24,"box":{"x":524,"y":774,"width":398,"height":11}},{"id":"7106890c-4a11-4d99-ba4d-e776b2b401af","block_type":"box","text":"purchasing derivatives, a Sub-Fund may be required","page_number":24,"box":{"x":524,"y":788,"width":398,"height":11}},{"id":"faa1b5fc-88c3-4d4a-9c8d-241769ee894e","block_type":"box","text":"to secure its obligations to its counterparty. For non","page_number":24,"box":{"x":523,"y":802,"width":400,"height":11}},{"id":"5fc6fc5e-9a71-4b8b-9e8e-ce345aea0cc4","block_type":"box","text":"fully funded derivatives, this may involve the placing of","page_number":24,"box":{"x":523,"y":815,"width":400,"height":11}},{"id":"04065bc5-aff2-4cf3-aa1e-65a4e00160af","block_type":"box","text":"initial and/or variation margin assets with the","page_number":24,"box":{"x":524,"y":829,"width":399,"height":11}},{"id":"f83a215e-bf3e-487f-b3d1-13fdfb7510e5","block_type":"box","text":"counterparty. For derivatives which require a Sub","page_number":24,"box":{"x":523,"y":842,"width":399,"height":12}},{"id":"24d50b95-388d-44e4-8404-1426e07a0821","block_type":"box","text":"Fund to place initial margin assets with a counterparty,","page_number":24,"box":{"x":524,"y":856,"width":398,"height":11}},{"id":"81e7fe58-a0e1-4f1e-a428-8765fe4cc69b","block_type":"box","text":"such assets may not be segregated from the","page_number":24,"box":{"x":523,"y":870,"width":400,"height":11}},{"id":"04679a40-0ca5-42dc-8547-3c0aa3d60410","block_type":"box","text":"counterparty's own assets and, being freely","page_number":24,"box":{"x":523,"y":884,"width":400,"height":11}},{"id":"255ddee0-2800-4c14-85cc-bb4f1bdcfaaf","block_type":"box","text":"exchangeable and replaceable, that Sub-Fund may","page_number":24,"box":{"x":523,"y":897,"width":400,"height":11}},{"id":"10805fe7-c52c-4bb6-924a-3860abc4e28c","block_type":"box","text":"have a right to the return of equivalent assets rather","page_number":24,"box":{"x":524,"y":911,"width":399,"height":11}},{"id":"53323076-8854-4b40-a283-3c7038bb57db","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 25","page_number":25,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"db5dd895-29ec-4120-938b-aa13ddfe0222","block_type":"box","text":"than the original margin assets deposited with the","page_number":25,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"17417182-5954-44b5-8d4f-6f3ba1186880","block_type":"box","text":"counterparty. These deposits or assets may exceed","page_number":25,"box":{"x":62,"y":60,"width":399,"height":11}},{"id":"99f1f72c-cd26-4935-9758-0663d52c9f6f","block_type":"box","text":"the value of the relevant Sub-Fund's obligations to the","page_number":25,"box":{"x":62,"y":73,"width":399,"height":11}},{"id":"407a9475-60a1-439e-939e-bce5dc68de06","block_type":"box","text":"counterparty in the event that the counterparty","page_number":25,"box":{"x":62,"y":87,"width":400,"height":11}},{"id":"c5bfa44c-7994-4ec7-8f13-9dc827664d74","block_type":"box","text":"requires excess margin or collateral. In addition, as the","page_number":25,"box":{"x":63,"y":100,"width":398,"height":12}},{"id":"1d2c6a00-5c4d-4994-916c-77b750d90a9b","block_type":"box","text":"terms of a derivative may provide for one counterparty","page_number":25,"box":{"x":62,"y":114,"width":400,"height":11}},{"id":"dcb24116-e50c-40e6-bdde-e6f3b0537853","block_type":"box","text":"to provide collateral to the other counterparty to cover","page_number":25,"box":{"x":62,"y":128,"width":400,"height":11}},{"id":"6eeac1cd-278b-4aea-95e6-ab9f8add1d5f","block_type":"box","text":"the variation margin exposure arising under the","page_number":25,"box":{"x":62,"y":142,"width":399,"height":11}},{"id":"33bcc1a0-3a96-409d-a507-6f566e11f138","block_type":"box","text":"derivative only if a minimum transfer amount is","page_number":25,"box":{"x":62,"y":155,"width":399,"height":11}},{"id":"bd0ef3c5-4017-4f5d-ba4f-89319fab70d3","block_type":"box","text":"triggered, a Sub-Fund may have an uncollateralised","page_number":25,"box":{"x":62,"y":169,"width":399,"height":11}},{"id":"72cd4d27-4c3b-4f55-990d-f78aff9d84e4","block_type":"box","text":"risk exposure to a counterparty under a derivative up","page_number":25,"box":{"x":63,"y":182,"width":398,"height":11}},{"id":"93cfffa3-d7fa-4734-9321-7cf5511960ff","block_type":"box","text":"to such minimum transfer amount.","page_number":25,"box":{"x":62,"y":196,"width":252,"height":9}},{"id":"9638ed58-bc1c-434f-bc45-393dbb8ff053","block_type":"box","text":"Derivative contracts can be highly volatile, and the","page_number":25,"box":{"x":63,"y":216,"width":398,"height":11}},{"id":"9df973f5-fe8d-4d65-b084-678404a1d375","block_type":"box","text":"amount of initial margin is generally small relative to","page_number":25,"box":{"x":62,"y":229,"width":399,"height":11}},{"id":"ea935983-22c0-4627-81fb-0d72bfb1fa0a","block_type":"box","text":"the size of the contract so that transactions may be","page_number":25,"box":{"x":62,"y":243,"width":399,"height":11}},{"id":"88f97f64-228a-41c2-9c5d-106fdecb55f4","block_type":"box","text":"leveraged in terms of market exposure. A relatively","page_number":25,"box":{"x":62,"y":257,"width":400,"height":11}},{"id":"49e200ee-9fff-47d9-bdb8-6561109dac77","block_type":"box","text":"small market movement may have a potentially larger","page_number":25,"box":{"x":62,"y":270,"width":400,"height":11}},{"id":"f1afd825-edec-4c95-8ed7-16a4a4ce9127","block_type":"box","text":"impact on derivatives than on standard bonds or","page_number":25,"box":{"x":62,"y":284,"width":400,"height":11}},{"id":"1ec77a7b-3385-422f-a4cd-268786fb3666","block_type":"box","text":"equities and leveraged positions can therefore","page_number":25,"box":{"x":62,"y":297,"width":400,"height":12}},{"id":"f3b9fe09-247c-4b1d-b3bf-1bb6570a6ea1","block_type":"box","text":"increase Sub-Fund volatility. Whilst the Sub-Funds will","page_number":25,"box":{"x":62,"y":311,"width":399,"height":11}},{"id":"f6e33870-94d7-4562-aef1-02e2133d0819","block_type":"box","text":"not borrow money to leverage they may for example","page_number":25,"box":{"x":62,"y":325,"width":399,"height":11}},{"id":"7ac9efda-44f2-405e-9f03-efc9201731c1","block_type":"box","text":"take synthetic short positions through derivatives to","page_number":25,"box":{"x":62,"y":339,"width":399,"height":11}},{"id":"62caa94f-ee26-44d9-aee7-1da1bc0b3e78","block_type":"box","text":"adjust their exposure, always within the restrictions","page_number":25,"box":{"x":62,"y":352,"width":399,"height":11}},{"id":"b921c3a4-2713-410e-b9e4-6baa248e7e29","block_type":"box","text":"provided for in Appendix 6.","page_number":25,"box":{"x":62,"y":366,"width":198,"height":11}},{"id":"43384455-d5a3-4e12-abcb-daa35ec0bd93","block_type":"box","text":"Certain Sub-Funds may enter into long positions","page_number":25,"box":{"x":62,"y":385,"width":399,"height":12}},{"id":"08589979-2f61-4ca8-a61b-c8b5e943bf08","block_type":"box","text":"executed using derivatives such as futures positions","page_number":25,"box":{"x":62,"y":399,"width":399,"height":11}},{"id":"0f3f8492-54e8-42f3-8a26-280af141b51e","block_type":"box","text":"including currency forwards. Additional risks","page_number":25,"box":{"x":62,"y":413,"width":400,"height":11}},{"id":"fcafd5e9-3d57-4a89-9d6b-d5ea83294b13","block_type":"box","text":"associated with investing in derivatives may include a","page_number":25,"box":{"x":62,"y":427,"width":400,"height":11}},{"id":"c1a18a9a-1a86-48ab-ad99-f84da14db3f1","block_type":"box","text":"counterparty breaching its obligations to provide","page_number":25,"box":{"x":62,"y":440,"width":399,"height":11}},{"id":"166b988f-6711-4cce-a6e5-049be861ab7e","block_type":"box","text":"collateral, or due to operational issues (such as time","page_number":25,"box":{"x":62,"y":454,"width":399,"height":11}},{"id":"9b19026b-8a26-4136-a20c-8cc44ff9a576","block_type":"box","text":"gaps between the calculation of risk exposure to a","page_number":25,"box":{"x":62,"y":467,"width":400,"height":12}},{"id":"c9a4bb0d-c1a5-45a3-9519-1e42fdccb93e","block_type":"box","text":"counterparty's provision of additional collateral or","page_number":25,"box":{"x":62,"y":481,"width":400,"height":11}},{"id":"408c1e86-a60f-47c4-b616-dd7d1694b769","block_type":"box","text":"substitutions of collateral or the sale of collateral in the","page_number":25,"box":{"x":62,"y":495,"width":399,"height":8}},{"id":"316ea5b4-a526-45f3-a746-c23d5349ba33","block_type":"box","text":"event of a default by a counterparty), there may be","page_number":25,"box":{"x":62,"y":508,"width":399,"height":11}},{"id":"284341ea-4fd2-438f-b64c-3c6010bfaa8e","block_type":"box","text":"instances where a Sub-Fund's credit exposure to its","page_number":25,"box":{"x":62,"y":522,"width":399,"height":11}},{"id":"c3f21b03-f1a0-46f9-911a-5bcd2b53968a","block_type":"box","text":"counterparty under a derivative contract is not fully","page_number":25,"box":{"x":62,"y":536,"width":400,"height":11}},{"id":"4026727e-def1-4370-98ff-196bc1759ca5","block_type":"box","text":"collateralised but each Sub-Fund will continue to","page_number":25,"box":{"x":62,"y":549,"width":399,"height":9}},{"id":"12275fa9-90b0-46cf-97bd-48d40cc7618f","block_type":"box","text":"observe the limits set out in Appendix 6. The use of","page_number":25,"box":{"x":62,"y":563,"width":400,"height":11}},{"id":"1ed2dddd-3eab-4b54-93e5-6f35670c8336","block_type":"box","text":"derivatives may also expose a Sub-Fund to legal risk,","page_number":25,"box":{"x":62,"y":577,"width":399,"height":11}},{"id":"dfad5cfa-8553-4277-a709-6781f886573b","block_type":"box","text":"which is the risk of loss resulting from changing laws","page_number":25,"box":{"x":62,"y":590,"width":399,"height":11}},{"id":"81c3c6bd-332b-4f50-96d8-b2b9ff8bb312","block_type":"box","text":"or from the unexpected application of a law or","page_number":25,"box":{"x":62,"y":604,"width":400,"height":11}},{"id":"faa581b5-ed0b-42e2-a591-c72bfdbc365c","block_type":"box","text":"regulation, or because a court declares a contract not","page_number":25,"box":{"x":63,"y":618,"width":399,"height":11}},{"id":"4ea5e542-070a-4c6e-a414-2516bde5e572","block_type":"box","text":"legally enforceable.","page_number":25,"box":{"x":62,"y":631,"width":142,"height":11}},{"id":"38b5bfe7-3a34-4c85-9c96-c08b24686a4a","block_type":"box","text":"Sub-Funds may use derivatives to facilitate complex","page_number":25,"box":{"x":62,"y":651,"width":400,"height":11}},{"id":"d64d362a-8f21-43e6-87d6-7ddd5b0129c4","block_type":"box","text":"management techniques. This may involve:","page_number":25,"box":{"x":62,"y":665,"width":321,"height":11}},{"id":"368ff936-a794-4d2c-9fc7-8af1a26e8a4c","block_type":"box","text":"(i) using swap contracts to hedge interest rate","page_number":25,"box":{"x":93,"y":684,"width":368,"height":11}},{"id":"b0e8dac4-2ac0-436d-83df-177976a35422","block_type":"box","text":"risk;","page_number":25,"box":{"x":141,"y":698,"width":28,"height":10}},{"id":"1e2f09ff-38db-4ca5-ae04-6b94fe877c8e","block_type":"box","text":"(ii) using currency derivatives to buy or sell","page_number":25,"box":{"x":93,"y":717,"width":368,"height":12}},{"id":"ed3bf04c-2392-4cbe-bcaa-90dd3aae46a1","block_type":"box","text":"currency risk;","page_number":25,"box":{"x":140,"y":731,"width":98,"height":11}},{"id":"da8000bb-3eda-4497-9074-c21d5c522f28","block_type":"box","text":"(iii) buying and selling options for investment","page_number":25,"box":{"x":93,"y":750,"width":369,"height":12}},{"id":"b0663904-3d32-406e-8a46-6cfc2005ac6f","block_type":"box","text":"purposes;","page_number":25,"box":{"x":140,"y":766,"width":71,"height":9}},{"id":"f3ef9bf4-cb64-4ccc-ae48-975e4fd6575b","block_type":"box","text":"(iv) using credit default swaps to buy or sell","page_number":25,"box":{"x":93,"y":784,"width":368,"height":11}},{"id":"af7dc6e2-057a-43cb-8eeb-3a959f687972","block_type":"box","text":"credit risk;","page_number":25,"box":{"x":140,"y":798,"width":74,"height":10}},{"id":"d82da792-32a3-4cc7-a9b3-83ac206b0c5f","block_type":"box","text":"(v) using volatility derivatives to adjust volatility","page_number":25,"box":{"x":93,"y":817,"width":369,"height":11}},{"id":"911e8c14-86e3-437a-b55c-956b90c98169","block_type":"box","text":"risk;","page_number":25,"box":{"x":141,"y":831,"width":28,"height":10}},{"id":"85b765d1-b289-4d2d-994c-8cf3c6e95300","block_type":"box","text":"(vi) using contracts for difference to gain market","page_number":25,"box":{"x":93,"y":850,"width":369,"height":11}},{"id":"87b20889-91df-443e-ba7f-15c2e0b2d5db","block_type":"box","text":"exposure;","page_number":25,"box":{"x":140,"y":866,"width":71,"height":9}},{"id":"2cccc4f4-96dd-49e1-a571-389dcd93611a","block_type":"box","text":"(vii) using synthetic short positions to take","page_number":25,"box":{"x":93,"y":884,"width":368,"height":11}},{"id":"56b32cb9-06df-40e7-a4d2-82815aa5f798","block_type":"box","text":"advantage of any negative investment","page_number":25,"box":{"x":140,"y":897,"width":322,"height":11}},{"id":"ba6c7b24-ed3b-4e97-8311-e501f3f122d2","block_type":"box","text":"views; and","page_number":25,"box":{"x":139,"y":911,"width":79,"height":10}},{"id":"fe442c8a-5538-4945-a2c7-344973062eb1","block_type":"box","text":"(viii) using synthetic long positions to gain market","page_number":25,"box":{"x":554,"y":46,"width":369,"height":11}},{"id":"decbec56-7125-4c63-835f-533962a33b8c","block_type":"box","text":"exposure.","page_number":25,"box":{"x":601,"y":62,"width":72,"height":8}},{"id":"7806aed6-2c00-4468-b214-269887051f39","block_type":"box","text":"Market leverage obtained through derivatives is","page_number":25,"box":{"x":524,"y":79,"width":399,"height":11}},{"id":"9322b3c1-12db-4711-9fd9-30cd437a62e8","block_type":"box","text":"expressed through a Sub-Fund's gross market","page_number":25,"box":{"x":523,"y":93,"width":400,"height":11}},{"id":"6b6ed22b-48b7-46ad-92d6-7bec7c67a1b0","block_type":"box","text":"exposure to the underlying reference assets of the","page_number":25,"box":{"x":523,"y":106,"width":400,"height":12}},{"id":"c620b7ff-c842-480e-967e-95dcb1c70b2e","block_type":"box","text":"derivatives contracts. Gross market exposure may","page_number":25,"box":{"x":523,"y":120,"width":400,"height":11}},{"id":"4d4b7577-0173-486d-91d2-88623fb07aa5","block_type":"box","text":"vary although, a Sub-Fund's global exposure, which is","page_number":25,"box":{"x":523,"y":134,"width":400,"height":11}},{"id":"ddf790fd-d785-4270-a7cd-8471c6979635","block_type":"box","text":"the aggregate sum of its obligations under the","page_number":25,"box":{"x":523,"y":147,"width":400,"height":11}},{"id":"02da33c4-ce64-41f0-833e-6dda22001bc0","block_type":"box","text":"derivative contracts, shall not exceed the total net","page_number":25,"box":{"x":523,"y":161,"width":400,"height":10}},{"id":"6d80959a-5825-4cdf-97f5-a61a25029d45","block_type":"box","text":"value of the Sub-Fund. Furthermore, a Sub-Fund's","page_number":25,"box":{"x":523,"y":174,"width":400,"height":11}},{"id":"630f4489-b9f7-476e-9da2-f3402f413caf","block_type":"box","text":"overall risk exposure will remain within the limits","page_number":25,"box":{"x":523,"y":188,"width":400,"height":11}},{"id":"1f544242-0cb9-430c-a594-5f58a48db228","block_type":"box","text":"imposed by the COLL Sourcebook, as further","page_number":25,"box":{"x":524,"y":202,"width":399,"height":11}},{"id":"47c0a90f-c974-41ba-8e1f-82c3e6f23445","block_type":"box","text":"described in Appendix 6. The ACS Manager's current","page_number":25,"box":{"x":523,"y":215,"width":400,"height":12}},{"id":"cff87bf8-83c6-45b4-95b5-ee6a179714b2","block_type":"box","text":"policy concerning the use of derivatives to gain market","page_number":25,"box":{"x":524,"y":229,"width":399,"height":11}},{"id":"456fe9d3-a3be-4c62-a486-46f03db797b2","block_type":"box","text":"leverage is disclosed within the relevant product","page_number":25,"box":{"x":524,"y":243,"width":399,"height":11}},{"id":"91b236c1-c754-43a3-8e60-d27887a9b094","block_type":"box","text":"literature which is available on request.","page_number":25,"box":{"x":524,"y":257,"width":287,"height":11}},{"id":"34f1c66a-22dd-4938-9c6f-60196e04ce13","block_type":"box","text":"Where derivative instruments are used in this manner","page_number":25,"box":{"x":523,"y":276,"width":400,"height":9}},{"id":"2cb1d4e3-27d7-4afa-88c9-1b406c8ac3d4","block_type":"box","text":"the overall risk profile of a Sub-Fund may be","page_number":25,"box":{"x":523,"y":290,"width":400,"height":11}},{"id":"b19e51b7-b162-4dc0-8e50-506f244b045a","block_type":"box","text":"increased. The ACS Manager uses a risk","page_number":25,"box":{"x":524,"y":303,"width":399,"height":12}},{"id":"c274a5dc-1fbe-41fb-a0dc-5ab721b4871d","block_type":"box","text":"management process, to monitor and measure as","page_number":25,"box":{"x":524,"y":317,"width":399,"height":11}},{"id":"00761b63-1455-4d04-959d-ad918beae535","block_type":"box","text":"frequently as appropriate the risk of a Sub-Fund's","page_number":25,"box":{"x":523,"y":331,"width":400,"height":11}},{"id":"4929a21a-1590-4967-a901-a22e20425f68","block_type":"box","text":"portfolio and contribution of the underlying investments","page_number":25,"box":{"x":524,"y":344,"width":399,"height":12}},{"id":"0b8a7898-0736-4189-b1c5-3b71a53ac0c8","block_type":"box","text":"to the overall risk profile of the Sub-Fund.","page_number":25,"box":{"x":523,"y":358,"width":305,"height":11}},{"id":"67422d79-cdc6-44d8-8c60-6e4b1b9968bc","block_type":"box","text":"Where consistent with its investment objectives and","page_number":25,"box":{"x":523,"y":378,"width":399,"height":11}},{"id":"bb476341-4c04-41fb-b466-498b7d058b02","block_type":"box","text":"policy a Sub-Fund may utilise, directly or indirectly (for","page_number":25,"box":{"x":524,"y":391,"width":399,"height":11}},{"id":"107b89d8-8e80-4f7d-a57a-03e6f7ec8ad9","block_type":"box","text":"example through investment in another fund) a variety","page_number":25,"box":{"x":523,"y":405,"width":400,"height":11}},{"id":"41a44019-e440-4f4a-94d5-57cffc801b60","block_type":"box","text":"of exchange traded and OTC derivative instruments","page_number":25,"box":{"x":523,"y":418,"width":400,"height":12}},{"id":"fd904608-2bfd-4233-b8b4-53994af9f623","block_type":"box","text":"including, call options, put options, stock index options,","page_number":25,"box":{"x":524,"y":432,"width":398,"height":11}},{"id":"520ee047-76d2-4849-9aa1-19a003d7af8a","block_type":"box","text":"credit default swaps, credit linked notes, equity default","page_number":25,"box":{"x":523,"y":446,"width":400,"height":11}},{"id":"7a8c6ff5-e63b-4b5a-9124-424db1c1b187","block_type":"box","text":"swaps, SFTs, TRSs, asset swaps, interest rate swaps,","page_number":25,"box":{"x":523,"y":460,"width":399,"height":11}},{"id":"79439dac-e736-46d0-82d3-95e12949005b","block_type":"box","text":"contracts for difference, swaptions, warrants, forward","page_number":25,"box":{"x":523,"y":473,"width":399,"height":11}},{"id":"5321f128-7084-4674-919e-e4b7ef802803","block_type":"box","text":"contracts and future contracts, for hedging purposes","page_number":25,"box":{"x":523,"y":487,"width":400,"height":11}},{"id":"1869f760-f607-4083-a7d8-d80a3d7207a4","block_type":"box","text":"and to reduce risk. Please see Appendix 1 for the","page_number":25,"box":{"x":523,"y":501,"width":400,"height":11}},{"id":"708c576b-b1ce-4038-ab70-245714ca4574","block_type":"box","text":"derivative instruments utilised by each Sub-Fund.","page_number":25,"box":{"x":523,"y":514,"width":365,"height":11}},{"id":"fe2c13b2-65dc-46f6-bffb-53938870fddc","block_type":"box","text":"Losses in excess of the amount invested may be","page_number":25,"box":{"x":524,"y":534,"width":399,"height":11}},{"id":"6e97beb5-79d0-45ad-bde6-02fe71890483","block_type":"box","text":"incurred from investment in such derivative","page_number":25,"box":{"x":524,"y":547,"width":399,"height":9}},{"id":"963609c1-a843-4e7a-979d-fe7cdb1f6077","block_type":"box","text":"instruments due to low margin deposits creating","page_number":25,"box":{"x":524,"y":561,"width":398,"height":11}},{"id":"3d83d5ff-6bb4-412f-bf73-17d37fb22e05","block_type":"box","text":"leverage which is typically associated with investment","page_number":25,"box":{"x":524,"y":575,"width":399,"height":11}},{"id":"c0e0ace3-5ccc-4310-a113-fe01f2066974","block_type":"box","text":"in such instruments. These instruments may be","page_number":25,"box":{"x":524,"y":589,"width":399,"height":11}},{"id":"64ba860e-a25f-434d-b042-7e7965e78ce4","block_type":"box","text":"sensitive to small price movements, may be","page_number":25,"box":{"x":523,"y":602,"width":400,"height":11}},{"id":"94cbc56b-b837-4f9c-8b90-4905936aee51","block_type":"box","text":"considered illiquid and could be difficult to price under","page_number":25,"box":{"x":523,"y":616,"width":400,"height":11}},{"id":"48c33e88-641a-4464-a34e-bcb24139e275","block_type":"box","text":"certain market conditions.","page_number":25,"box":{"x":523,"y":630,"width":190,"height":8}},{"id":"d9e572cb-f57f-46a3-9d16-48b2fda352d3","block_type":"box","text":"(iii)","page_number":25,"box":{"x":524,"y":649,"width":20,"height":11}},{"id":"8d181f4d-de15-48d6-80fd-25aa7e1682ad","block_type":"box","text":"Derivative Strategies","page_number":25,"box":{"x":584,"y":649,"width":166,"height":11}},{"id":"18318a73-841c-4d92-a034-dcbc50c90730","block_type":"box","text":"A Sub-Fund’s exposure to derivative strategies will","page_number":25,"box":{"x":523,"y":668,"width":399,"height":12}},{"id":"8ecb74ff-83b2-44e1-afbb-482bfbb7e482","block_type":"box","text":"mainly be obtained directly or indirectly through","page_number":25,"box":{"x":524,"y":682,"width":398,"height":11}},{"id":"4d5f9dfe-7470-4dd8-b5ce-cf06ffcd52a4","block_type":"box","text":"related: (i) transferable securities and money market","page_number":25,"box":{"x":524,"y":696,"width":399,"height":11}},{"id":"6775989c-cfb5-4789-b02e-937f969bf44b","block_type":"box","text":"instruments; (ii) units of closed-ended investment","page_number":25,"box":{"x":524,"y":710,"width":399,"height":11}},{"id":"15193dea-8765-45eb-8ee0-b7aba361ebbf","block_type":"box","text":"companies; (iii) financial instruments linked or backed","page_number":25,"box":{"x":523,"y":723,"width":399,"height":11}},{"id":"0b48a741-0baf-4810-83f4-443fef7f2437","block_type":"box","text":"to the performance of underlying financial instruments;","page_number":25,"box":{"x":523,"y":737,"width":399,"height":11}},{"id":"95dbb762-70c2-4d13-a48e-5d1c775ba88e","block_type":"box","text":"(iv) UCITS and/or other undertakings for collective","page_number":25,"box":{"x":524,"y":750,"width":399,"height":12}},{"id":"dff6b63b-d76a-4cce-8e1d-c42ad4bbe97d","block_type":"box","text":"investment investing in these strategies and financial","page_number":25,"box":{"x":524,"y":764,"width":398,"height":11}},{"id":"fbadb533-8fea-4d7b-8cc4-215466365ea2","block_type":"box","text":"instruments; and (v) financial derivatives instruments","page_number":25,"box":{"x":524,"y":778,"width":399,"height":11}},{"id":"e092dfff-29f5-473b-ae1e-34a8b472c2a1","block_type":"box","text":"on these financial instruments.","page_number":25,"box":{"x":523,"y":792,"width":225,"height":8}},{"id":"97733cf6-69e0-4fff-b4dc-a7dd902b3a63","block_type":"box","text":"The strategies may involve a degree of illiquidity (see","page_number":25,"box":{"x":523,"y":811,"width":400,"height":11}},{"id":"02e9a177-05ad-421d-896b-213d773c8444","block_type":"box","text":"‘Liquidity Risk’) as well as a potentially high level of","page_number":25,"box":{"x":524,"y":825,"width":399,"height":11}},{"id":"fc2c1739-ec3a-481a-a782-ee8c1c0b4531","block_type":"box","text":"leverage, and be represented by physical and/or","page_number":25,"box":{"x":524,"y":838,"width":399,"height":12}},{"id":"aa8955cd-fdef-4da4-8bc5-90adf5e5f411","block_type":"box","text":"synthetic short selling. Their magnitude will depend on","page_number":25,"box":{"x":523,"y":852,"width":399,"height":11}},{"id":"b5335957-0cd0-4260-9a88-c50103ecbfb6","block_type":"box","text":"the exposure taken by the relevant Sub-Fund and","page_number":25,"box":{"x":523,"y":866,"width":399,"height":11}},{"id":"98db0777-8464-490e-9fd6-2bb2cce4190f","block_type":"box","text":"certain or unexpected market conditions.","page_number":25,"box":{"x":523,"y":880,"width":301,"height":11}},{"id":"d11480c4-ed89-45d6-bba0-89c15249c6e1","block_type":"box","text":"(iv)","page_number":25,"box":{"x":524,"y":899,"width":21,"height":11}},{"id":"b832cc10-a08b-4408-8b7d-e40e675fa8f0","block_type":"box","text":"Forward Contracts","page_number":25,"box":{"x":584,"y":899,"width":149,"height":9}},{"id":"91e2a7a6-708c-4e1a-8da8-84b398ef6512","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 26","page_number":26,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"9a21a41f-898e-400c-bcd8-5f1d733a8846","block_type":"box","text":"The ACS Manager or its delegates may enter into","page_number":26,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"4440e05d-7b2b-4933-9af5-98deb67c77bd","block_type":"box","text":"forward contracts and options on behalf of a Sub-Fund","page_number":26,"box":{"x":62,"y":59,"width":399,"height":11}},{"id":"fe58612d-514f-441a-8804-817760eacf9b","block_type":"box","text":"which are not traded on exchanges and are generally","page_number":26,"box":{"x":62,"y":73,"width":400,"height":11}},{"id":"35a9b8c5-36d4-4aae-8cfd-a3e7e904334e","block_type":"box","text":"not regulated. There are no limitations on daily price","page_number":26,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"e558cc29-c25e-402d-9b72-85731974220b","block_type":"box","text":"moves of forward contracts. Counterparties with whom","page_number":26,"box":{"x":62,"y":100,"width":399,"height":11}},{"id":"357b4861-6ab0-4a2c-97de-63b8882fb115","block_type":"box","text":"a Sub-Fund may maintain accounts may require a","page_number":26,"box":{"x":62,"y":114,"width":400,"height":11}},{"id":"7d641a9c-9746-4267-8560-e06ac5a2dfd6","block_type":"box","text":"Sub-Fund to deposit margin with respect to such","page_number":26,"box":{"x":62,"y":128,"width":399,"height":11}},{"id":"00abc170-8ab8-4337-babc-7252190c3dd5","block_type":"box","text":"trading, although margin requirements are often","page_number":26,"box":{"x":62,"y":141,"width":399,"height":12}},{"id":"de192931-6ecb-4cce-8216-c6786f7c1963","block_type":"box","text":"minimal or non-existent. A Sub-Fund’s counterparties","page_number":26,"box":{"x":62,"y":155,"width":399,"height":11}},{"id":"f3e548d3-148c-45e1-a20c-e22bfe8d7c6f","block_type":"box","text":"are not required to continue to make markets in such","page_number":26,"box":{"x":62,"y":169,"width":399,"height":11}},{"id":"0a950c63-17fb-45f2-99ac-0d36e7560a4d","block_type":"box","text":"contracts and these contracts can experience periods","page_number":26,"box":{"x":62,"y":182,"width":399,"height":11}},{"id":"c9c976e1-2431-4eb9-9774-447c8143975d","block_type":"box","text":"of illiquidity, sometimes of significant duration (see","page_number":26,"box":{"x":62,"y":196,"width":399,"height":11}},{"id":"d7769887-945c-408b-bd21-57e63a913729","block_type":"box","text":"‘Liquidity Risk’). There have been periods during which","page_number":26,"box":{"x":62,"y":210,"width":399,"height":11}},{"id":"de172a3f-9502-430e-bdb8-f862141cc4b3","block_type":"box","text":"certain counterparties have refused to continue to","page_number":26,"box":{"x":62,"y":223,"width":399,"height":11}},{"id":"0904890d-a730-43a8-9cce-7d1bc67e6861","block_type":"box","text":"quote prices for forward contracts or have quoted","page_number":26,"box":{"x":62,"y":237,"width":399,"height":11}},{"id":"ecb7ac94-c8d9-4a44-9bd1-e74fefb2d9d4","block_type":"box","text":"prices with an unusually wide spread (the difference","page_number":26,"box":{"x":62,"y":251,"width":399,"height":11}},{"id":"3e4d8355-7923-435a-9db1-afe1a67ab173","block_type":"box","text":"between the price at which the counterparty is","page_number":26,"box":{"x":62,"y":264,"width":399,"height":11}},{"id":"84c74686-1305-4b9e-b668-77b5c21ad6d1","block_type":"box","text":"prepared to buy and that at which it is prepared to sell).","page_number":26,"box":{"x":62,"y":278,"width":398,"height":11}},{"id":"eeb03a33-2326-4128-bae3-ddb55ecc5e97","block_type":"box","text":"Arrangements to trade forward contracts may be made","page_number":26,"box":{"x":62,"y":292,"width":399,"height":11}},{"id":"1a464c79-4886-40bf-8bc0-e0c0227fb9f1","block_type":"box","text":"with only one or a few counterparties, which potentially","page_number":26,"box":{"x":62,"y":305,"width":400,"height":11}},{"id":"fa0207cd-4abc-4a01-bbda-3039b4146da0","block_type":"box","text":"reduces liquidity (see ‘Liquidity Risk’). The imposition","page_number":26,"box":{"x":63,"y":319,"width":398,"height":11}},{"id":"650188c4-38e0-4751-97f1-ad92cb382df6","block_type":"box","text":"of credit controls by governmental authorities might","page_number":26,"box":{"x":62,"y":333,"width":400,"height":11}},{"id":"153d2d0f-8ab7-4b67-9d6d-182938084d27","block_type":"box","text":"limit such forward trading to less than that which the","page_number":26,"box":{"x":62,"y":346,"width":399,"height":11}},{"id":"f44f0a17-bc07-4955-a379-4c424a28e7ec","block_type":"box","text":"ACS Manager would otherwise recommend, to the","page_number":26,"box":{"x":62,"y":360,"width":399,"height":11}},{"id":"5d120dd1-00a0-45ac-b2c1-16fda00c968c","block_type":"box","text":"possible detriment of a Sub-Fund (see ‘Legal and","page_number":26,"box":{"x":62,"y":373,"width":399,"height":12}},{"id":"aa3259a0-addb-440b-b71d-1adfe1951619","block_type":"box","text":"Regulatory Risk’). Additionally, disruptions can occur","page_number":26,"box":{"x":63,"y":387,"width":399,"height":11}},{"id":"cbd53136-1f20-43b2-bf01-71cd6d55581c","block_type":"box","text":"in any market traded by a Sub-Fund due to unusually","page_number":26,"box":{"x":62,"y":401,"width":400,"height":11}},{"id":"92a5bec0-75e2-4c20-9a00-02b784c252d9","block_type":"box","text":"high trading volume, political intervention or other","page_number":26,"box":{"x":62,"y":415,"width":400,"height":11}},{"id":"671adc2e-2dee-4ed7-af5b-bb0e76db71e5","block_type":"box","text":"factors. Market illiquidity or disruption could result in","page_number":26,"box":{"x":62,"y":428,"width":399,"height":11}},{"id":"5702b257-b7ce-4b09-a7ab-ae20be63af62","block_type":"box","text":"major losses to a Sub-Fund. In addition, a Sub-Fund","page_number":26,"box":{"x":62,"y":442,"width":399,"height":11}},{"id":"6fd896d4-41a3-496f-8e9d-3bb60475ae98","block_type":"box","text":"may be exposed to credit risks with regard to","page_number":26,"box":{"x":62,"y":456,"width":399,"height":11}},{"id":"2cb44b70-b3e1-4136-8cba-c9e690c193bc","block_type":"box","text":"counterparties with whom it trades as well as risks","page_number":26,"box":{"x":62,"y":469,"width":400,"height":11}},{"id":"d925fae8-a332-422a-8e6c-d01a12fc8d84","block_type":"box","text":"relating to settlement default (see ‘Credit Risk’,","page_number":26,"box":{"x":63,"y":483,"width":398,"height":11}},{"id":"b758ba6f-033a-40f3-832e-b875edf2ed93","block_type":"box","text":"‘Counterparty Risk’ and ‘Settlement Risk’). Such risks","page_number":26,"box":{"x":62,"y":496,"width":399,"height":12}},{"id":"ce824f7b-581b-4cd6-9109-a59230923e0c","block_type":"box","text":"could result in substantial losses to a Sub-Fund.","page_number":26,"box":{"x":62,"y":510,"width":354,"height":9}},{"id":"da94b72b-bf64-4ac4-8de7-9a5fca05b300","block_type":"box","text":"(v)","page_number":26,"box":{"x":63,"y":530,"width":17,"height":11}},{"id":"765246d3-8f28-415f-b9b3-87def91cc507","block_type":"box","text":"Futures","page_number":26,"box":{"x":123,"y":530,"width":61,"height":9}},{"id":"fdd42a24-fb4a-4390-bc33-dc29d141bb25","block_type":"box","text":"Futures are standardised contracts between two","page_number":26,"box":{"x":63,"y":549,"width":398,"height":9}},{"id":"f386aa67-3bc5-4aa0-952a-fef01671a0f1","block_type":"box","text":"parties to buy or sell a specified asset or index with a","page_number":26,"box":{"x":62,"y":563,"width":400,"height":11}},{"id":"23a15503-4461-41c4-a352-640ba3076c8e","block_type":"box","text":"standardised quantity for a price agreed upon today","page_number":26,"box":{"x":62,"y":577,"width":400,"height":11}},{"id":"162a6c4b-6865-4751-a95e-8e94e68c795a","block_type":"box","text":"with delivery and payment occurring at a future","page_number":26,"box":{"x":62,"y":590,"width":400,"height":11}},{"id":"e131c874-f459-4056-b4a8-80e87afa7ab0","block_type":"box","text":"delivery date.","page_number":26,"box":{"x":62,"y":604,"width":98,"height":11}},{"id":"6be880ae-11ba-44b2-9569-888fa22b0f09","block_type":"box","text":"They are negotiated on an exchange acting as an","page_number":26,"box":{"x":62,"y":624,"width":399,"height":11}},{"id":"d4f47b6b-c3ce-4295-b709-827b6fcaf3c9","block_type":"box","text":"intermediary between parties.","page_number":26,"box":{"x":62,"y":637,"width":218,"height":11}},{"id":"941f70bd-6132-49e4-8ce3-078f53af5cfc","block_type":"box","text":"A Sub-Fund may enter into futures transactions as","page_number":26,"box":{"x":62,"y":657,"width":399,"height":11}},{"id":"019a71c7-2682-4464-aae1-c79c79c68fe6","block_type":"box","text":"either the buyer or seller and may combine them to","page_number":26,"box":{"x":62,"y":671,"width":399,"height":11}},{"id":"be24a306-e48e-47d8-af46-b0b7cd18b099","block_type":"box","text":"form a particular trading strategy as well as use futures","page_number":26,"box":{"x":62,"y":684,"width":399,"height":11}},{"id":"19e8970f-5b1f-4e44-af91-8a20c1bb6795","block_type":"box","text":"for reducing an existing risk.","page_number":26,"box":{"x":62,"y":698,"width":207,"height":11}},{"id":"71c8ca65-0035-4d7f-9de6-24a7d80031f7","block_type":"box","text":"Futures positions may be illiquid (see ‘Liquidity Risk’)","page_number":26,"box":{"x":63,"y":717,"width":398,"height":11}},{"id":"7e917602-5653-40d1-b425-d6d438e470c2","block_type":"box","text":"because certain exchanges limit fluctuations in certain","page_number":26,"box":{"x":62,"y":731,"width":399,"height":11}},{"id":"5ecfc397-b4fb-4566-b8d8-6c79966ef143","block_type":"box","text":"futures contract prices during a single day by","page_number":26,"box":{"x":62,"y":745,"width":400,"height":11}},{"id":"13e92bbe-9e16-4955-ad10-cd7b808f76a2","block_type":"box","text":"regulations or an exchange or the Commodity Futures","page_number":26,"box":{"x":63,"y":758,"width":398,"height":12}},{"id":"591376b9-1d61-4cd8-8004-af86498b8e5a","block_type":"box","text":"Trading Commission may suspend trading in a","page_number":26,"box":{"x":62,"y":772,"width":400,"height":11}},{"id":"1629624b-1e6e-460f-bf50-8ef2be34b40f","block_type":"box","text":"particular contract, order immediate liquidation and","page_number":26,"box":{"x":62,"y":786,"width":399,"height":11}},{"id":"4ee50395-d314-412d-a802-59a209949157","block_type":"box","text":"settlement of a particular contract, or order that trading","page_number":26,"box":{"x":62,"y":799,"width":399,"height":11}},{"id":"1e99ddc1-8b9f-4b65-8520-e8f61e078928","block_type":"box","text":"in a particular contract be conducted for liquidation","page_number":26,"box":{"x":62,"y":813,"width":399,"height":11}},{"id":"42f9fc57-44b0-42a8-8c88-8d2c916dc60c","block_type":"box","text":"only.","page_number":26,"box":{"x":62,"y":827,"width":33,"height":11}},{"id":"fb04316f-e64c-4adb-8850-69d22e6914bb","block_type":"box","text":"Investments in futures may also involve the following","page_number":26,"box":{"x":63,"y":846,"width":398,"height":11}},{"id":"84e795f8-1734-4b84-aa0a-3eb55a0186be","block_type":"box","text":"non-exhaustive list of risks see ‘Market Risk’,","page_number":26,"box":{"x":62,"y":860,"width":398,"height":10}},{"id":"529580cb-d651-4c10-87b4-62d98a94afae","block_type":"box","text":"‘Settlement Risk’.","page_number":26,"box":{"x":62,"y":873,"width":128,"height":9}},{"id":"2b38aa2e-a759-4c69-b80f-24ca21560be0","block_type":"box","text":"(vi)","page_number":26,"box":{"x":63,"y":893,"width":21,"height":11}},{"id":"47736478-3e7a-42fd-87ed-d73c4d02445c","block_type":"box","text":"Hedging Techniques","page_number":26,"box":{"x":123,"y":893,"width":164,"height":11}},{"id":"f1db4809-b8b4-4506-8669-43b430463bb8","block_type":"box","text":"Hedging techniques could involve a variety of","page_number":26,"box":{"x":524,"y":46,"width":399,"height":11}},{"id":"0589c486-c608-4663-9983-9aa592ba79d4","block_type":"box","text":"derivative transactions (see ‘Derivatives (General)’).","page_number":26,"box":{"x":523,"y":59,"width":399,"height":11}},{"id":"51c7de75-2d7f-4e49-967a-c4394608644b","block_type":"box","text":"As a result, hedging techniques involve different risks","page_number":26,"box":{"x":523,"y":73,"width":400,"height":11}},{"id":"228a3fd1-8932-42b8-876c-0175eed5e57a","block_type":"box","text":"than those of underlying investments, including","page_number":26,"box":{"x":523,"y":87,"width":399,"height":11}},{"id":"0393ee98-48f7-4d79-81af-d79c9a676961","block_type":"box","text":"liquidity risk and the potential for loss in excess of the","page_number":26,"box":{"x":524,"y":100,"width":399,"height":11}},{"id":"222161ed-cf63-4698-aa13-f7eb496fe0e0","block_type":"box","text":"amount invested. In particular, the variable degree of","page_number":26,"box":{"x":523,"y":114,"width":400,"height":11}},{"id":"3ce87644-aa20-4588-b247-f7016fe1885f","block_type":"box","text":"correlation between price movements of hedging","page_number":26,"box":{"x":523,"y":128,"width":399,"height":11}},{"id":"3e6fdf4d-337c-4d38-bee8-19889a84e89a","block_type":"box","text":"instruments and price movements in the position being","page_number":26,"box":{"x":524,"y":142,"width":398,"height":11}},{"id":"788562c7-17f4-4a22-8f02-b3c790f6d73a","block_type":"box","text":"hedged creates the possibility that losses on the hedge","page_number":26,"box":{"x":524,"y":155,"width":399,"height":11}},{"id":"c27e5e43-0dce-44e1-81c0-b929261cf874","block_type":"box","text":"may be greater than gains in the value of a Sub-Fund’s","page_number":26,"box":{"x":524,"y":169,"width":399,"height":11}},{"id":"0e96014c-4d14-48aa-94eb-ac793289472c","block_type":"box","text":"positions. In addition, although the contemplated use","page_number":26,"box":{"x":524,"y":182,"width":399,"height":12}},{"id":"25db1c93-3b92-4845-8bdc-caee99b7ea35","block_type":"box","text":"of these techniques should minimise the risk of loss","page_number":26,"box":{"x":523,"y":196,"width":399,"height":11}},{"id":"b90c7c52-5e27-4767-bfe5-773db6a22d57","block_type":"box","text":"due to a decline in the value of the hedged position, at","page_number":26,"box":{"x":523,"y":210,"width":400,"height":11}},{"id":"ee843e73-9408-4801-a70f-58aaedf90ab9","block_type":"box","text":"the same time they may limit any potential gains","page_number":26,"box":{"x":523,"y":223,"width":400,"height":12}},{"id":"6c24aa33-83ea-4ab9-a346-cf5c555a8a8f","block_type":"box","text":"resulting from an increase in the value of such","page_number":26,"box":{"x":524,"y":237,"width":398,"height":11}},{"id":"88c5ea18-cb44-4501-9c90-08ee82dc18cf","block_type":"box","text":"positions. The ability of a Sub-Fund to hedge","page_number":26,"box":{"x":524,"y":250,"width":399,"height":12}},{"id":"dead327b-1cd7-47f7-af63-ae915acc1be9","block_type":"box","text":"successfully will depend on the ACS Manager's, or its","page_number":26,"box":{"x":523,"y":264,"width":400,"height":11}},{"id":"4c2caefa-0193-4c06-bd70-ba67a5750bad","block_type":"box","text":"delegate’s, ability to predict pertinent market","page_number":26,"box":{"x":523,"y":278,"width":400,"height":11}},{"id":"25f233f4-228e-4247-aade-9448e95f979b","block_type":"box","text":"movements, and as a consequence there can be no","page_number":26,"box":{"x":524,"y":292,"width":399,"height":11}},{"id":"d509d9ab-b4fe-4129-8e82-817a95586b71","block_type":"box","text":"assurance that hedging transactions will be successful","page_number":26,"box":{"x":523,"y":305,"width":399,"height":11}},{"id":"cfa9b43f-b8f8-4bfd-a405-165d07a7b958","block_type":"box","text":"in protecting against adverse market and/or currency","page_number":26,"box":{"x":524,"y":319,"width":399,"height":11}},{"id":"766e244c-b206-42fd-9958-ef9bd36721be","block_type":"box","text":"movements.","page_number":26,"box":{"x":524,"y":333,"width":89,"height":8}},{"id":"5ee9e9f7-2f49-46da-b056-e5e32ebb4a78","block_type":"box","text":"(vii)","page_number":26,"box":{"x":524,"y":352,"width":24,"height":11}},{"id":"d0dcb7c9-540e-4edc-9612-7c01ad17f5b2","block_type":"box","text":"Investment in UCITS and/or Other","page_number":26,"box":{"x":584,"y":352,"width":341,"height":9}},{"id":"a4cdebec-f0e8-4702-9d9e-09bff4949b01","block_type":"box","text":"Collective Investment Schemes","page_number":26,"box":{"x":585,"y":366,"width":250,"height":9}},{"id":"9f0b4759-9d70-4b95-859c-28dd42fb7996","block_type":"box","text":"Where a Sub-Fund invests in other collective","page_number":26,"box":{"x":523,"y":385,"width":400,"height":9}},{"id":"c3bac170-03a6-4a06-9982-13e8e41d72a8","block_type":"box","text":"investment schemes or exchange traded funds, it will","page_number":26,"box":{"x":524,"y":399,"width":398,"height":11}},{"id":"443a0524-9737-4033-ae5d-52f468888769","block_type":"box","text":"assume any specific risks associated with those","page_number":26,"box":{"x":523,"y":413,"width":400,"height":11}},{"id":"73118ee7-6648-4364-8d66-bc29812954cf","block_type":"box","text":"schemes or funds. Furthermore, there may be","page_number":26,"box":{"x":523,"y":426,"width":400,"height":12}},{"id":"9d9ca5d2-23df-4129-b0f5-3460eff4ccbb","block_type":"box","text":"additional costs to a Sub-Fund with this strategy,","page_number":26,"box":{"x":523,"y":440,"width":399,"height":11}},{"id":"48360d0a-b6f7-49f4-9085-442554b2ad84","block_type":"box","text":"arising out of the double charging incurred, as the","page_number":26,"box":{"x":523,"y":454,"width":400,"height":11}},{"id":"d1417800-1e12-4a85-a513-78d028720877","block_type":"box","text":"underlying schemes can also have initial or entry","page_number":26,"box":{"x":524,"y":467,"width":399,"height":12}},{"id":"e3194d32-8c1f-439f-9a3b-36d4cc3df975","block_type":"box","text":"charges and annual management charges plus","page_number":26,"box":{"x":523,"y":481,"width":400,"height":11}},{"id":"478c5335-c824-4174-92d6-2fb5504d16fc","block_type":"box","text":"additional attributable expenses. The charges levied","page_number":26,"box":{"x":523,"y":495,"width":399,"height":11}},{"id":"68b629dc-9157-4369-9a59-deef00b244b8","block_type":"box","text":"by both the Scheme and the underlying scheme in","page_number":26,"box":{"x":524,"y":508,"width":398,"height":11}},{"id":"a35bffd3-636a-4415-a2f9-5cfb9e1ba928","block_type":"box","text":"which a Sub-Fund invests, will indirectly affect a","page_number":26,"box":{"x":523,"y":522,"width":400,"height":11}},{"id":"9e714a6d-8737-4bbc-a74a-b8c9f13225b4","block_type":"box","text":"Unitholder’s investment.","page_number":26,"box":{"x":524,"y":536,"width":176,"height":8}},{"id":"74001aa0-5f1e-4c9b-971e-b94162a11161","block_type":"box","text":"(viii)","page_number":26,"box":{"x":524,"y":555,"width":28,"height":11}},{"id":"9039fd3f-d7a5-4ced-926f-df98ee1657d4","block_type":"box","text":"Options","page_number":26,"box":{"x":585,"y":555,"width":62,"height":11}},{"id":"97276319-ceb0-4bc1-8bc5-5d1d34846251","block_type":"box","text":"An option is the right (but not the obligation) to buy or","page_number":26,"box":{"x":523,"y":575,"width":400,"height":11}},{"id":"1e19ab6c-bfdf-4947-a5b1-e3a7a64d38b9","block_type":"box","text":"sell a particular asset or index at a stated price at some","page_number":26,"box":{"x":523,"y":589,"width":400,"height":11}},{"id":"b8f4ca27-a431-4384-a08c-0ea9c1a88877","block_type":"box","text":"date in the future. In exchange for the rights conferred","page_number":26,"box":{"x":523,"y":602,"width":399,"height":11}},{"id":"9a7df96d-8f1b-4f07-a88c-f5f7c0b3c374","block_type":"box","text":"by the option, the option buyer has to pay the option","page_number":26,"box":{"x":524,"y":616,"width":398,"height":11}},{"id":"bdf93cc4-b125-4e6c-bfc9-9288f21a34cb","block_type":"box","text":"seller a premium for carrying on the risk that comes","page_number":26,"box":{"x":523,"y":629,"width":400,"height":12}},{"id":"0c36c26e-7480-4517-8ba6-bffe7d12b209","block_type":"box","text":"with the obligation. The option premium depends on","page_number":26,"box":{"x":523,"y":643,"width":399,"height":11}},{"id":"19ae8e41-42c2-410f-b1d6-cb3690ba5c41","block_type":"box","text":"the strike price, volatility of the underlying, as well as","page_number":26,"box":{"x":523,"y":657,"width":400,"height":11}},{"id":"1167ca97-ad49-4630-b21d-da585a2bb95c","block_type":"box","text":"the time remaining to expiration. Options may be listed","page_number":26,"box":{"x":523,"y":670,"width":399,"height":12}},{"id":"a598eeae-c59e-4cf9-b4ae-ba5986e9ea1f","block_type":"box","text":"or dealt in OTC.","page_number":26,"box":{"x":523,"y":684,"width":117,"height":9}},{"id":"58063d06-e1c4-49ba-9d1c-e246584fac2b","block_type":"box","text":"A Sub-Fund may enter into option transactions as","page_number":26,"box":{"x":523,"y":704,"width":400,"height":11}},{"id":"a320ec40-d6e5-4f06-b0a1-b4bf742aa245","block_type":"box","text":"either the buyer or seller of this right and may combine","page_number":26,"box":{"x":523,"y":717,"width":400,"height":12}},{"id":"7fe4cd4f-b218-4289-94ed-c47cd8eaa1b6","block_type":"box","text":"them to form a particular trading strategy as well as","page_number":26,"box":{"x":523,"y":731,"width":400,"height":11}},{"id":"114aa475-e9ae-4d07-8a93-99ed5ac61a7e","block_type":"box","text":"use options for reducing an existing risk.","page_number":26,"box":{"x":524,"y":745,"width":297,"height":11}},{"id":"4c0a896d-caf1-4541-8a76-1ed88582414d","block_type":"box","text":"If the ACS Manager or its delegate is incorrect in its","page_number":26,"box":{"x":524,"y":764,"width":399,"height":11}},{"id":"b08dd925-5e77-4ef1-a68b-6544961bed19","block_type":"box","text":"expectation of changes in the market prices or","page_number":26,"box":{"x":523,"y":778,"width":400,"height":11}},{"id":"1be8b18d-6b8c-41b9-a073-d7d3e8d2cf0e","block_type":"box","text":"determination of the correlation between the","page_number":26,"box":{"x":523,"y":792,"width":400,"height":8}},{"id":"20383051-bf2d-4f4c-8243-613f21aaef53","block_type":"box","text":"instruments or indices on which the options are written","page_number":26,"box":{"x":524,"y":805,"width":398,"height":11}},{"id":"2c2f80a4-a347-4280-863b-c0f64f43ca76","block_type":"box","text":"or purchased and the instruments in a Sub-Fund’s","page_number":26,"box":{"x":523,"y":819,"width":399,"height":11}},{"id":"3146c8a9-6e2b-46d2-b7ab-19f552f565ce","block_type":"box","text":"investment portfolio, that Sub-Fund may incur losses","page_number":26,"box":{"x":524,"y":832,"width":399,"height":12}},{"id":"3f5d6498-c055-4d70-b6f6-4ced3fada488","block_type":"box","text":"that it would not otherwise incur.","page_number":26,"box":{"x":523,"y":846,"width":238,"height":9}},{"id":"5db82101-5474-43a0-a6da-d1bc800941e0","block_type":"box","text":"Investment in options may involve the following non","page_number":26,"box":{"x":524,"y":866,"width":398,"height":11}},{"id":"8783d942-8efe-496e-b661-c46ba213b97d","block_type":"box","text":"exhaustive list of risks, see ‘Market Risk’, ‘Settlement","page_number":26,"box":{"x":523,"y":879,"width":400,"height":11}},{"id":"951787ac-b9f3-4892-90d3-d44c05a6a90b","block_type":"box","text":"Risk’, ‘Counterparty Risk’, ‘Liquidity Risk’. Their","page_number":26,"box":{"x":524,"y":893,"width":399,"height":11}},{"id":"c6c8bdc7-f01a-4c5f-b50f-b44b879f9dde","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 27","page_number":27,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"f1b291d9-da61-40ea-91bf-6d4110ca0bcc","block_type":"box","text":"magnitude will depend on the exposure taken by a","page_number":27,"box":{"x":62,"y":46,"width":400,"height":11}},{"id":"cce05997-8f71-4c31-9c48-b78f246c3c98","block_type":"box","text":"Fund and certain or unexpected market conditions.","page_number":27,"box":{"x":63,"y":60,"width":375,"height":10}},{"id":"9242064d-9f0a-4056-ad63-a9eb4b58077e","block_type":"box","text":"(ix)","page_number":27,"box":{"x":63,"y":79,"width":21,"height":11}},{"id":"c5ba583e-da7c-4bbe-8a19-d02eb63ad72a","block_type":"box","text":"OTC Transactions","page_number":27,"box":{"x":124,"y":79,"width":143,"height":9}},{"id":"99a950de-2662-4405-b7e0-2a0f2ca5274c","block_type":"box","text":"There is less governmental regulation and supervision","page_number":27,"box":{"x":62,"y":99,"width":399,"height":11}},{"id":"3331e08d-356f-49d5-8b0d-54d41aa3ae50","block_type":"box","text":"of transactions in OTC markets (in which currencies,","page_number":27,"box":{"x":62,"y":112,"width":399,"height":11}},{"id":"c5d8134e-b018-4e6b-9fc8-e5d271dd215d","block_type":"box","text":"forward, spot and option contracts, credit default","page_number":27,"box":{"x":62,"y":126,"width":400,"height":11}},{"id":"62d46374-2c9a-4da7-b822-c2b826bfcef1","block_type":"box","text":"swaps, TRS, and certain options on currencies and","page_number":27,"box":{"x":62,"y":139,"width":399,"height":12}},{"id":"9bac899a-c3dd-4924-81e0-abc11c1948c2","block_type":"box","text":"other types of derivative instruments are generally","page_number":27,"box":{"x":62,"y":153,"width":400,"height":11}},{"id":"0b3a5d1d-68be-41a1-bed0-f80d7aaca5dd","block_type":"box","text":"traded) than organised stock exchanges. Many of the","page_number":27,"box":{"x":62,"y":167,"width":399,"height":11}},{"id":"c46d43a9-22d1-493f-82c8-be38e466033a","block_type":"box","text":"protections afforded to transactions on organised","page_number":27,"box":{"x":62,"y":181,"width":399,"height":11}},{"id":"a6224ec0-1ee7-41cc-9167-6b482fb9be23","block_type":"box","text":"exchanges such as the performance guarantee of an","page_number":27,"box":{"x":62,"y":194,"width":399,"height":11}},{"id":"65153057-a238-4f89-9128-22c58d3ef71a","block_type":"box","text":"exchange clearing house may not exist for OTC","page_number":27,"box":{"x":62,"y":208,"width":399,"height":11}},{"id":"e2ae0ade-26bc-4773-a99f-a7dab5c896a7","block_type":"box","text":"transactions. The risk of counterparty default therefore","page_number":27,"box":{"x":62,"y":221,"width":399,"height":12}},{"id":"0df963c2-1e4d-420e-a19c-cf25e9bb8c36","block_type":"box","text":"exists (see ‘Counterparty Risk’ and ‘Credit Risk’).","page_number":27,"box":{"x":62,"y":235,"width":362,"height":11}},{"id":"88183f4f-17cb-4f2a-9e57-7db648a27a00","block_type":"box","text":"The ACS Manager or its delegates will regularly","page_number":27,"box":{"x":62,"y":255,"width":400,"height":11}},{"id":"b4737a07-73cb-42a1-8e88-f396866565a2","block_type":"box","text":"assess the credit and counterparty risk arising from","page_number":27,"box":{"x":62,"y":268,"width":399,"height":12}},{"id":"749e098b-4a9b-4021-928d-a0ffe1abc7bf","block_type":"box","text":"trading activities e.g. counterparty risk exposures","page_number":27,"box":{"x":62,"y":282,"width":399,"height":11}},{"id":"c09badd8-e030-4304-96d9-4397f50146ea","block_type":"box","text":"resulting from adverse movements in the prices or","page_number":27,"box":{"x":63,"y":296,"width":399,"height":11}},{"id":"cbe1b969-a68d-46d5-b234-3df1423c9780","block_type":"box","text":"volatility of market prices and will assess the hedging","page_number":27,"box":{"x":62,"y":309,"width":399,"height":12}},{"id":"4bd66a1e-0c9f-4d2c-b78d-0e3e4cc87122","block_type":"box","text":"effectiveness on an ongoing basis. Counterparty","page_number":27,"box":{"x":62,"y":323,"width":400,"height":11}},{"id":"5251e3e6-1da5-46d9-b304-ea2f6d76813f","block_type":"box","text":"exposures are monitored against internal limits or","page_number":27,"box":{"x":62,"y":337,"width":400,"height":11}},{"id":"5393a7d9-2f22-4039-a5ae-1359948b537c","block_type":"box","text":"thresholds as applicable. Further, in contrast to","page_number":27,"box":{"x":62,"y":350,"width":399,"height":11}},{"id":"7c399f8c-1581-4a31-8cbd-c997cbde5b2c","block_type":"box","text":"exchange traded instruments, forward, spot and option","page_number":27,"box":{"x":62,"y":364,"width":399,"height":11}},{"id":"c162d94f-6540-4e08-9406-661e0223a462","block_type":"box","text":"contracts on currencies do not provide the ACS","page_number":27,"box":{"x":62,"y":378,"width":399,"height":11}},{"id":"bf70be5a-08d8-49af-8373-96b722985785","block_type":"box","text":"Manager or its delegate with the possibility to offset a","page_number":27,"box":{"x":63,"y":391,"width":399,"height":12}},{"id":"16c5328c-a5ce-4436-89f4-fdd431f613d9","block_type":"box","text":"Sub-Fund’s obligations through an equal and opposite","page_number":27,"box":{"x":62,"y":405,"width":399,"height":11}},{"id":"b12c6c58-763c-4450-8ea8-0eeac3b2e798","block_type":"box","text":"transaction. For this reason when entering into","page_number":27,"box":{"x":62,"y":419,"width":399,"height":11}},{"id":"5b1e58ea-8745-484d-8332-96a9211ef695","block_type":"box","text":"forward, spot or options contracts, a Sub-Fund may be","page_number":27,"box":{"x":62,"y":432,"width":399,"height":11}},{"id":"7054beff-29a8-43a3-aa18-e27dda74a304","block_type":"box","text":"required and must be able to perform its obligations","page_number":27,"box":{"x":63,"y":446,"width":398,"height":11}},{"id":"9934d57c-fc54-412a-9892-ea8b210451c3","block_type":"box","text":"under the contracts.","page_number":27,"box":{"x":63,"y":460,"width":145,"height":8}},{"id":"56e9bcf2-8382-48f9-9cb1-8e0bbf510828","block_type":"box","text":"(x)","page_number":27,"box":{"x":63,"y":479,"width":17,"height":11}},{"id":"18d2b473-c91e-447f-8c4b-0aceb6a2621f","block_type":"box","text":"Swap Transactions","page_number":27,"box":{"x":123,"y":479,"width":152,"height":11}},{"id":"b1290ca8-4cd5-41ec-a38e-f62bf3413262","block_type":"box","text":"Swap transactions are privately negotiated OTC","page_number":27,"box":{"x":62,"y":499,"width":399,"height":11}},{"id":"337b77ac-2325-4a48-9928-19e77fba31c6","block_type":"box","text":"derivative products in which two parties agree to","page_number":27,"box":{"x":62,"y":513,"width":399,"height":11}},{"id":"945eb5a3-0e88-47c5-8d2d-495c6a52fb99","block_type":"box","text":"exchange payment streams of a notional amount in","page_number":27,"box":{"x":62,"y":526,"width":399,"height":11}},{"id":"9f2c94b8-11ec-4ecc-8b39-fe4beff33dc5","block_type":"box","text":"relation to an asset or index. The notional amount is","page_number":27,"box":{"x":63,"y":540,"width":398,"height":9}},{"id":"603f5bb8-6216-48a5-9037-c4845aaba5ab","block_type":"box","text":"usually not exchanged between counterparties. By","page_number":27,"box":{"x":63,"y":554,"width":399,"height":11}},{"id":"ed2f73eb-b1ed-4be1-bbc5-45c4f6b4d7dd","block_type":"box","text":"consequence, cash or collateral may be required.","page_number":27,"box":{"x":62,"y":567,"width":365,"height":11}},{"id":"bfd84e75-d950-426c-b366-de03edae3d0a","block_type":"box","text":"Swaps transactions can typically either be in the form","page_number":27,"box":{"x":62,"y":587,"width":399,"height":11}},{"id":"600faafe-568e-4714-866e-970ba28bac31","block_type":"box","text":"of a credit default swap, a contract for difference, an","page_number":27,"box":{"x":62,"y":600,"width":399,"height":11}},{"id":"955b7637-7107-475e-9471-dd277ee5784b","block_type":"box","text":"interest rate swap, a TRS and an interest rate","page_number":27,"box":{"x":62,"y":614,"width":399,"height":11}},{"id":"0f9ea452-6207-4b72-9837-00dc20f92c24","block_type":"box","text":"swaption. A Sub-Fund may enter into swap","page_number":27,"box":{"x":62,"y":628,"width":400,"height":11}},{"id":"41319f9e-722f-4064-ad70-0fa36e2502cd","block_type":"box","text":"transactions as either the buyer or seller of this right","page_number":27,"box":{"x":62,"y":641,"width":400,"height":12}},{"id":"ead460af-5f80-49f0-9588-e8d6c2c8d313","block_type":"box","text":"and may combine them to form a particular trading","page_number":27,"box":{"x":62,"y":655,"width":399,"height":11}},{"id":"e9dbc995-00be-4c95-ba89-05a69f65a316","block_type":"box","text":"strategy as well as using swap transactions for","page_number":27,"box":{"x":62,"y":669,"width":400,"height":11}},{"id":"161bacbd-6b7d-4251-9f0e-837e41c50849","block_type":"box","text":"reducing an existing risk.","page_number":27,"box":{"x":63,"y":682,"width":182,"height":11}},{"id":"5848f77e-7b5b-4d06-b173-82a3817654e9","block_type":"box","text":"A credit default swap allows the transfer of default risk.","page_number":27,"box":{"x":62,"y":702,"width":399,"height":11}},{"id":"4aaf37da-fd8a-478b-bcf0-88d670fffe1a","block_type":"box","text":"This allows Unitholders to effectively buy insurance on","page_number":27,"box":{"x":62,"y":716,"width":399,"height":11}},{"id":"163ba368-5687-447e-a7b5-1ad7b901536c","block_type":"box","text":"a bond they hold (hedging the investment) or buy","page_number":27,"box":{"x":62,"y":729,"width":400,"height":11}},{"id":"ea02d3d4-9379-4918-8048-1fb8886c4ad1","block_type":"box","text":"protection on a bond they do not physically own where","page_number":27,"box":{"x":62,"y":743,"width":399,"height":11}},{"id":"ef696e87-36f2-4ffb-9ef4-2734a719eae3","block_type":"box","text":"the investment view is that the stream of coupon","page_number":27,"box":{"x":62,"y":757,"width":399,"height":11}},{"id":"6590dc85-c002-44f8-bee8-21d0a295b6ea","block_type":"box","text":"payments required will be less than the payments","page_number":27,"box":{"x":62,"y":770,"width":399,"height":11}},{"id":"e16e86fc-9989-4c70-946f-921cb4ca31c7","block_type":"box","text":"received due to the decline in credit quality.","page_number":27,"box":{"x":63,"y":784,"width":319,"height":11}},{"id":"35c9f74f-e36a-4f8a-bdad-dcf063929845","block_type":"box","text":"A contract for difference is a contract between two","page_number":27,"box":{"x":62,"y":803,"width":399,"height":9}},{"id":"a8520538-e5d7-4ca8-96c9-0f64e074171a","block_type":"box","text":"parties, typically described as the buyer and the seller","page_number":27,"box":{"x":62,"y":817,"width":400,"height":11}},{"id":"40737e16-5d87-4b6c-8545-54d7dd27dd4a","block_type":"box","text":"stipulating that the seller will pay to the buyer the","page_number":27,"box":{"x":62,"y":831,"width":399,"height":11}},{"id":"1c3870a3-bc60-4824-9ede-64815ec8d1b3","block_type":"box","text":"difference between the current value of an asset and","page_number":27,"box":{"x":62,"y":844,"width":399,"height":9}},{"id":"34957440-0067-4579-b920-22c1db49e871","block_type":"box","text":"its value at contract time (if the difference is negative,","page_number":27,"box":{"x":62,"y":858,"width":399,"height":11}},{"id":"b14dd049-6925-4921-bb8b-c881f4d0deee","block_type":"box","text":"the buyer pays the seller instead).","page_number":27,"box":{"x":62,"y":872,"width":250,"height":11}},{"id":"580e838d-76b0-469f-9280-b00f25ee3cf7","block_type":"box","text":"Interest rate swaps involve an exchange with another","page_number":27,"box":{"x":63,"y":891,"width":399,"height":12}},{"id":"32afa937-c81e-4f8a-80aa-cd47fd7124ca","block_type":"box","text":"party of respective commitments to pay or receive","page_number":27,"box":{"x":62,"y":905,"width":399,"height":11}},{"id":"6123e4c4-498f-4ff3-addb-e3acc5c47ec1","block_type":"box","text":"interest, such as an exchange of fixed rate payments","page_number":27,"box":{"x":524,"y":46,"width":399,"height":11}},{"id":"2f37d5f4-6887-4791-9978-0dd94c3d520b","block_type":"box","text":"for floating rate payments. Currency swaps may","page_number":27,"box":{"x":523,"y":59,"width":400,"height":12}},{"id":"cc2f86b8-2202-4823-bd57-884358edcd6e","block_type":"box","text":"involve the exchange of rights to make or receive","page_number":27,"box":{"x":524,"y":73,"width":399,"height":11}},{"id":"6ec7b73c-13d9-4e7c-90d2-ab38a50f7c0b","block_type":"box","text":"payments in specified currencies. TRS involve the","page_number":27,"box":{"x":524,"y":87,"width":399,"height":11}},{"id":"bf06c37d-e968-4ec1-8787-fab36a304647","block_type":"box","text":"exchange of the right to receive the total return,","page_number":27,"box":{"x":523,"y":100,"width":399,"height":12}},{"id":"90e3136b-cb8e-4c30-9c40-a9a70fff03f2","block_type":"box","text":"coupons plus capital gains or losses, of a specified","page_number":27,"box":{"x":523,"y":114,"width":399,"height":11}},{"id":"a6cc8c5c-275d-440f-9f6c-43873712bc94","block_type":"box","text":"reference asset, index or basket of assets against the","page_number":27,"box":{"x":524,"y":128,"width":399,"height":11}},{"id":"8aa109e6-1c6c-434d-ae02-50a0273d0e5b","block_type":"box","text":"right to make fixed or floating payments.","page_number":27,"box":{"x":524,"y":141,"width":295,"height":12}},{"id":"65d2906f-c8ed-468f-945b-9f1f38e2f840","block_type":"box","text":"Where a Sub-Fund enters into interest rate swaps or","page_number":27,"box":{"x":523,"y":161,"width":400,"height":11}},{"id":"45340416-7c6d-42d0-be8e-303ba7566e18","block_type":"box","text":"TRSs on a net basis, the two payment streams are","page_number":27,"box":{"x":523,"y":174,"width":400,"height":12}},{"id":"5ee3ca5a-c9a2-4d33-b66e-ddbbb366e06d","block_type":"box","text":"netted out, with each party receiving or paying, as the","page_number":27,"box":{"x":524,"y":188,"width":399,"height":11}},{"id":"3529e222-c941-4eb5-a79b-c7643f3abab5","block_type":"box","text":"case may be, only the net amount of the two payments.","page_number":27,"box":{"x":523,"y":202,"width":399,"height":11}},{"id":"0ddf6978-3fd3-48af-b78b-62d06832ba5a","block_type":"box","text":"Interest rate or TRS entered into on a net basis do not","page_number":27,"box":{"x":524,"y":215,"width":399,"height":9}},{"id":"f586e704-7268-4eca-baf8-1feb8db11e2a","block_type":"box","text":"involve the physical delivery of investments, other","page_number":27,"box":{"x":524,"y":229,"width":399,"height":11}},{"id":"ee6641de-3416-4f19-92d8-db4e6f723055","block_type":"box","text":"underlying assets or principal. Accordingly, it is","page_number":27,"box":{"x":524,"y":243,"width":399,"height":11}},{"id":"aff4c90b-900d-4ffa-9507-3efb3ac6b31b","block_type":"box","text":"intended that the risk of loss with respect to interest","page_number":27,"box":{"x":524,"y":257,"width":399,"height":11}},{"id":"a72aef69-8c07-46a7-a8b2-2bd96206eec6","block_type":"box","text":"rate swaps is limited to the net amount of interest","page_number":27,"box":{"x":524,"y":270,"width":399,"height":11}},{"id":"fc3831b4-2b6a-44e3-a7d9-f27599405973","block_type":"box","text":"payments that a Sub-Fund is contractually obligated to","page_number":27,"box":{"x":524,"y":284,"width":399,"height":11}},{"id":"d37bc094-f75e-4d05-884e-a468cd559632","block_type":"box","text":"make (or in the case of TRS, the net amount of the","page_number":27,"box":{"x":524,"y":297,"width":399,"height":12}},{"id":"a5618596-fec9-4b29-9300-69cea1bfb7f4","block_type":"box","text":"difference between the total rate of return of a","page_number":27,"box":{"x":523,"y":311,"width":400,"height":9}},{"id":"e7cbf334-636a-4f44-96db-2ea413d23623","block_type":"box","text":"reference investment, index or basket of investments","page_number":27,"box":{"x":524,"y":325,"width":399,"height":10}},{"id":"a856392e-ce2d-4079-a747-684877dbb360","block_type":"box","text":"and the fixed or floating payments). If the other party","page_number":27,"box":{"x":523,"y":338,"width":400,"height":12}},{"id":"261e23b5-24ca-4318-a4cf-d4cdefb20a5e","block_type":"box","text":"to an interest rate swap or TRS defaults, in normal","page_number":27,"box":{"x":523,"y":352,"width":399,"height":11}},{"id":"9507bbc5-1e3d-47f2-83fb-961af969e327","block_type":"box","text":"circumstances each Sub-Fund’s risk of loss consists of","page_number":27,"box":{"x":523,"y":366,"width":400,"height":9}},{"id":"d9d21b62-dd7b-42b2-bfed-3f21ffbbcdbd","block_type":"box","text":"the net amount of interest or total return payments that","page_number":27,"box":{"x":523,"y":379,"width":400,"height":12}},{"id":"24cd4c44-3717-4a5c-ad58-3a5d0e4e55c2","block_type":"box","text":"each party is contractually entitled to receive. In","page_number":27,"box":{"x":523,"y":393,"width":399,"height":11}},{"id":"97e703a1-b7f1-48c6-9807-0837ddbf2739","block_type":"box","text":"contrast, currency swaps usually involve the delivery","page_number":27,"box":{"x":523,"y":407,"width":400,"height":11}},{"id":"acda48f4-7c94-4cd6-9d6a-1764e1e9dec0","block_type":"box","text":"of the entire principal value of one designated currency","page_number":27,"box":{"x":523,"y":420,"width":400,"height":12}},{"id":"4a368e44-edad-46a6-9a10-e07529fcfcc4","block_type":"box","text":"in exchange for the other designated currency.","page_number":27,"box":{"x":524,"y":434,"width":398,"height":11}},{"id":"693f7de5-5090-42ab-8506-81ee3028d48b","block_type":"box","text":"Therefore, the entire principal value of a currency swap","page_number":27,"box":{"x":523,"y":448,"width":400,"height":11}},{"id":"f244d354-6500-49af-9afb-849a6a5705e8","block_type":"box","text":"is subject to the risk that the other party to the swap","page_number":27,"box":{"x":524,"y":461,"width":399,"height":11}},{"id":"3112dc4f-99f2-48f2-90e5-a3be75c31c65","block_type":"box","text":"will default on its contractual delivery obligations.","page_number":27,"box":{"x":523,"y":475,"width":360,"height":11}},{"id":"69425c72-4149-4009-a441-91e98c44a34e","block_type":"box","text":"Certain Sub-Funds may also buy or sell interest rate","page_number":27,"box":{"x":523,"y":495,"width":400,"height":11}},{"id":"96487a46-0414-45df-90a6-b75329da72a7","block_type":"box","text":"swaption contracts. These give the purchaser the right,","page_number":27,"box":{"x":523,"y":508,"width":399,"height":11}},{"id":"fb5484ae-5350-433c-873d-8e0207ad05e8","block_type":"box","text":"but not the obligation to enter into an interest rate swap","page_number":27,"box":{"x":524,"y":522,"width":399,"height":11}},{"id":"b719922c-7b22-439f-bfbd-bf23ab6d5200","block_type":"box","text":"at a pre-set interest rate within a specified period of","page_number":27,"box":{"x":523,"y":536,"width":400,"height":11}},{"id":"75c2103c-0c64-41b9-b143-a648da57c1b0","block_type":"box","text":"time.","page_number":27,"box":{"x":523,"y":549,"width":34,"height":9}},{"id":"0f6ef78e-76fc-4ad2-8681-16ea59966a7d","block_type":"box","text":"If the ACS Manager or its delegate is incorrect in its","page_number":27,"box":{"x":524,"y":569,"width":399,"height":11}},{"id":"420a972e-5afb-4775-a5dd-9b931be570aa","block_type":"box","text":"forecasts of market values, interest rates and currency","page_number":27,"box":{"x":523,"y":582,"width":400,"height":12}},{"id":"642bb442-0989-4249-b214-edef64db94a5","block_type":"box","text":"exchange rates, the investment performance of a Sub","page_number":27,"box":{"x":523,"y":596,"width":400,"height":11}},{"id":"7dea38f8-4b09-4b77-b560-f2304f68e65c","block_type":"box","text":"Fund would be less favourable than it would have been","page_number":27,"box":{"x":524,"y":610,"width":398,"height":9}},{"id":"10c9192b-a0bc-46e4-abd5-3976432b9647","block_type":"box","text":"if these investment techniques were not used.","page_number":27,"box":{"x":524,"y":624,"width":338,"height":11}},{"id":"9c77236c-719f-4f15-b921-7fa607ea989f","block_type":"box","text":"Illiquidity in the swaps market may prevent a Sub-Fund","page_number":27,"box":{"x":524,"y":643,"width":398,"height":11}},{"id":"8737b4e0-bcb3-4536-b1d1-a5d688b82072","block_type":"box","text":"from being able to roll its swap positions on expiry","page_number":27,"box":{"x":523,"y":657,"width":400,"height":11}},{"id":"07f75179-e2d9-4aff-8347-0779a38cb0d9","block_type":"box","text":"which in turn may result in a Sub-Fund being","page_number":27,"box":{"x":523,"y":670,"width":399,"height":12}},{"id":"695412df-e49d-4388-b812-1ef3f04451e8","block_type":"box","text":"temporarily unable to pursue its investment objective.","page_number":27,"box":{"x":523,"y":684,"width":399,"height":11}},{"id":"c734c537-93a2-413e-9d8c-bd7813d3d57d","block_type":"box","text":"In addition, the market for credit default swaps may","page_number":27,"box":{"x":524,"y":698,"width":399,"height":11}},{"id":"ac399b96-2b6f-42ff-b37b-67dc8c419df5","block_type":"box","text":"sometimes be more illiquid than bond markets (see","page_number":27,"box":{"x":523,"y":711,"width":400,"height":11}},{"id":"950c1763-9f3d-4b61-b80a-b4abf7d148fb","block_type":"box","text":"‘Liquidity Risk’).","page_number":27,"box":{"x":524,"y":725,"width":114,"height":11}},{"id":"172c3b74-3484-4688-9a91-d98e6c0c824e","block_type":"box","text":"The investment in options may also involve the","page_number":27,"box":{"x":523,"y":745,"width":400,"height":11}},{"id":"bfe0d3e9-634a-4c77-b0ed-e109bd4b605c","block_type":"box","text":"following non-exhaustive list of risks; see ‘Market","page_number":27,"box":{"x":523,"y":758,"width":400,"height":12}},{"id":"e0f3514a-1af0-4cc8-8227-ed06130deafa","block_type":"box","text":"Risk’, ‘Credit Risk’, ‘Counterparty Risk’. Their","page_number":27,"box":{"x":524,"y":772,"width":399,"height":11}},{"id":"9d386548-7361-4303-8001-24247649f770","block_type":"box","text":"magnitude will depend on the exposure taken by the","page_number":27,"box":{"x":524,"y":786,"width":399,"height":11}},{"id":"c48b157b-5fa0-4d12-8670-0be0d45fd28a","block_type":"box","text":"relevant Sub-Fund and certain or unexpected market","page_number":27,"box":{"x":524,"y":799,"width":399,"height":11}},{"id":"edb62e10-4ca2-4445-80b2-efb40c046611","block_type":"box","text":"conditions.","page_number":27,"box":{"x":523,"y":813,"width":78,"height":9}},{"id":"3c2f3244-232a-4b86-bdd0-28c587589e38","block_type":"box","text":"(xi)","page_number":27,"box":{"x":524,"y":832,"width":21,"height":12}},{"id":"0e8684b9-54c2-432b-9108-4987560726e7","block_type":"box","text":"When Issued and Forward Commitment","page_number":27,"box":{"x":586,"y":832,"width":339,"height":9}},{"id":"ab7bc7ab-a83e-4606-bead-35b9f16d7b00","block_type":"box","text":"Securities","page_number":27,"box":{"x":584,"y":846,"width":80,"height":9}},{"id":"84805030-ece5-487c-90be-72020fad15d1","block_type":"box","text":"A Sub-Fund may purchase “when-issued” securities","page_number":27,"box":{"x":523,"y":866,"width":400,"height":11}},{"id":"6da1b52c-08d2-40f7-a5a0-7ec3000b8d5e","block_type":"box","text":"and may contract to purchase or sell securities for a","page_number":27,"box":{"x":523,"y":879,"width":400,"height":11}},{"id":"c155e5de-b4e9-48dc-aeb9-53c5ae84f6d7","block_type":"box","text":"fixed price at a future date beyond the usual settlement","page_number":27,"box":{"x":523,"y":893,"width":400,"height":11}},{"id":"efa6abb0-2cb8-4b78-9851-0163bcbfc30e","block_type":"box","text":"time. When-issued securities are securities that have","page_number":27,"box":{"x":523,"y":907,"width":400,"height":8}},{"id":"dea978b9-df34-47c9-beec-a350ca3c7521","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 28","page_number":28,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"fc2c867b-ee1d-4940-a5e0-554cfde1c30d","block_type":"box","text":"been authorized, but not yet received and can be used","page_number":28,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"7d99a23b-3fb0-4985-a96a-666580b99bb1","block_type":"box","text":"to hedge against anticipated changes in interest rates","page_number":28,"box":{"x":62,"y":60,"width":399,"height":11}},{"id":"9cf5a973-174b-4ea2-8d0e-5571083d3512","block_type":"box","text":"and prices or for speculative purposes.","page_number":28,"box":{"x":62,"y":73,"width":286,"height":11}},{"id":"3d004cd0-426a-498b-9dfb-60ccee5e3206","block_type":"box","text":"Forward commitment transactions involve a","page_number":28,"box":{"x":63,"y":93,"width":399,"height":8}},{"id":"e0b8a01d-5706-411a-9c28-00cc9d99c178","block_type":"box","text":"commitment by a Sub-Fund to purchase or sell","page_number":28,"box":{"x":62,"y":106,"width":399,"height":11}},{"id":"ed1f8d6e-2ea0-410d-97b1-60e962506308","block_type":"box","text":"securities at a future price and date.","page_number":28,"box":{"x":62,"y":120,"width":265,"height":11}},{"id":"f6136cb9-67b1-4f61-a7d6-ebf211ad6b8a","block_type":"box","text":"The purchase of such securities involves the risk of the","page_number":28,"box":{"x":62,"y":140,"width":399,"height":11}},{"id":"9f8b508e-ba82-42cc-bc75-a452d66bccd0","block_type":"box","text":"value of the security being purchased declining before","page_number":28,"box":{"x":62,"y":153,"width":399,"height":11}},{"id":"ab223e6b-ce3e-425b-a2d2-e9176a38e0b6","block_type":"box","text":"the purchase date. Equally the sale of securities on a","page_number":28,"box":{"x":62,"y":167,"width":400,"height":11}},{"id":"5afaedf2-da05-4c32-ab44-0f2d5f21d700","block_type":"box","text":"forward commitment basis can expose a Sub-Fund to","page_number":28,"box":{"x":62,"y":180,"width":399,"height":12}},{"id":"5e256f3b-31b3-4767-9ce9-7ca7f4f7b869","block_type":"box","text":"the risk of the value of the security being sold","page_number":28,"box":{"x":62,"y":194,"width":399,"height":11}},{"id":"4ea3f723-2064-49e3-ab86-08c2de68b33d","block_type":"box","text":"increasing prior to settlement. Such securities may be","page_number":28,"box":{"x":62,"y":208,"width":399,"height":11}},{"id":"86921e8f-25c8-4333-a09e-617f34431875","block_type":"box","text":"disposed of prior to settlement if deemed appropriate","page_number":28,"box":{"x":62,"y":221,"width":399,"height":12}},{"id":"d45fc68d-3ab2-46f7-bf17-3869a646dad7","block_type":"box","text":"by the ACS Manager.","page_number":28,"box":{"x":62,"y":235,"width":158,"height":11}},{"id":"b448cb66-1bf1-4688-b6d9-28667b7dad9e","block_type":"box","text":"(xii)","page_number":28,"box":{"x":63,"y":255,"width":24,"height":11}},{"id":"c0789b2d-7a7a-44dd-a13d-aa4a8a3a3483","block_type":"box","text":"SFTs","page_number":28,"box":{"x":110,"y":255,"width":40,"height":9}},{"id":"1e4d9543-aabb-488b-afaf-25a629c0165c","block_type":"box","text":"The primary risk in any SFT is counterparty credit risk","page_number":28,"box":{"x":62,"y":274,"width":400,"height":11}},{"id":"1b23aaaa-3c84-4aa8-ade8-7c1d34e0b5e6","block_type":"box","text":"(see “Counterparty Risk”),","page_number":28,"box":{"x":63,"y":288,"width":190,"height":11}},{"id":"b54b12fc-bdd6-4d39-ae25-cb87e319d036","block_type":"box","text":"Risk is mitigated by the choice of counterparty and the","page_number":28,"box":{"x":63,"y":308,"width":398,"height":11}},{"id":"f5c81855-696d-43d1-b89e-005bfb7b8e4e","block_type":"box","text":"use of collateral. In the event of a counterparty default,","page_number":28,"box":{"x":63,"y":321,"width":398,"height":11}},{"id":"f55b2bad-2a4a-4b67-a2dc-c233d8da94f4","block_type":"box","text":"collateral securities delivered by the failing","page_number":28,"box":{"x":62,"y":335,"width":399,"height":11}},{"id":"e5e60a20-11a4-4064-86af-636962e0cc99","block_type":"box","text":"counterparty are sold, and the sale proceeds used to","page_number":28,"box":{"x":62,"y":349,"width":400,"height":11}},{"id":"76bfc141-b739-42ab-a6eb-defe7c70e719","block_type":"box","text":"purchase replacement loan securities. There is a risk","page_number":28,"box":{"x":62,"y":362,"width":400,"height":11}},{"id":"5d310a41-92de-438b-bac4-6f2ebf1a882b","block_type":"box","text":"that these collateral sale proceeds are insufficient to","page_number":28,"box":{"x":62,"y":376,"width":399,"height":11}},{"id":"2fa611fb-faa8-4ab7-a4b6-932f237a655c","block_type":"box","text":"purchase the replacement loan securities, leading the","page_number":28,"box":{"x":62,"y":390,"width":399,"height":11}},{"id":"106f3878-387f-421e-907c-66bfd2d66854","block_type":"box","text":"Sub-Fund to incur a loss. This risk is mitigated by the","page_number":28,"box":{"x":62,"y":403,"width":399,"height":11}},{"id":"9fa4860f-a5b0-4dc3-b1bb-07dea27e632b","block_type":"box","text":"fact that all SFT activity is governed by industry","page_number":28,"box":{"x":62,"y":417,"width":400,"height":11}},{"id":"55951dbd-35ae-431d-8f01-d71f31a61064","block_type":"box","text":"standard legal documentation and collateralised to a","page_number":28,"box":{"x":62,"y":431,"width":400,"height":11}},{"id":"ea79383a-c793-449c-832e-778536d3d0c5","block_type":"box","text":"minimum value of 100% of the loan portfolio.","page_number":28,"box":{"x":62,"y":444,"width":398,"height":11}},{"id":"e3110703-15a7-48c3-a07d-de48b75649c3","block_type":"box","text":"Collateral, consisting of liquid, marketable securities,","page_number":28,"box":{"x":62,"y":458,"width":398,"height":11}},{"id":"d383dfcc-98d4-4ccd-ae4d-b3c1972fc1e8","block_type":"box","text":"is valued daily on a mark-to-market basis.","page_number":28,"box":{"x":62,"y":472,"width":308,"height":11}},{"id":"9f7e7146-72ed-432e-92e0-afdbdc5460bf","block_type":"box","text":"SFTs also involve operational liquidity risk arising","page_number":28,"box":{"x":62,"y":491,"width":399,"height":11}},{"id":"6851025c-642c-440a-8d22-0e0ada426b2c","block_type":"box","text":"where a Sub-Fund may be unable to settle the sale of","page_number":28,"box":{"x":62,"y":505,"width":400,"height":11}},{"id":"5026c7a3-82ca-4a79-ab4e-d7c20bf18ffe","block_type":"box","text":"a security if it cannot be recalled from a borrowing","page_number":28,"box":{"x":62,"y":518,"width":399,"height":12}},{"id":"e0af7d5c-287a-42f7-b455-078f1dc65856","block_type":"box","text":"counterparty on a timely basis. This risk is mitigated by","page_number":28,"box":{"x":62,"y":532,"width":400,"height":11}},{"id":"16671b21-57ea-43b9-a891-23831aa99416","block_type":"box","text":"a comprehensive set of systems and procedures in","page_number":28,"box":{"x":62,"y":546,"width":399,"height":11}},{"id":"e99cac74-ab67-4a71-8b76-2dafc6771a90","block_type":"box","text":"place to ensure that any security on loan may be","page_number":28,"box":{"x":62,"y":560,"width":399,"height":11}},{"id":"1b0beab0-7340-48cd-8010-087d74c033f7","block_type":"box","text":"recalled at any time as required from the borrowing","page_number":28,"box":{"x":63,"y":573,"width":398,"height":11}},{"id":"64b543ba-93cf-45fd-84da-a5df902b364b","block_type":"box","text":"counterparty.","page_number":28,"box":{"x":62,"y":587,"width":96,"height":11}},{"id":"04b1a609-f336-4464-b6da-2a214c8d9aad","block_type":"box","text":"(c)","page_number":28,"box":{"x":74,"y":612,"width":18,"height":11}},{"id":"607b0ef3-8da4-4893-a031-f430c83ccd97","block_type":"box","text":"Risk Factors Specific to Certain Sub-Funds","page_number":28,"box":{"x":122,"y":612,"width":340,"height":11}},{"id":"d13eabe9-53c2-4b5d-9031-32e67c976f18","block_type":"box","text":"The following are relevant to a Sub-Fund depending","page_number":28,"box":{"x":62,"y":632,"width":399,"height":11}},{"id":"f8fd9f70-ee0c-4776-8879-c1dd1a05988b","block_type":"box","text":"on the investment objective and policy of that Sub","page_number":28,"box":{"x":62,"y":645,"width":399,"height":12}},{"id":"450f5fe0-a12d-48f6-ad5a-50cf21556530","block_type":"box","text":"Fund. Details of which specific risk factors are relevant","page_number":28,"box":{"x":63,"y":659,"width":399,"height":11}},{"id":"6dab595c-a82c-4712-ad67-a5d8b30ed02f","block_type":"box","text":"for a Sub-Fund are set out in Appendix 1.","page_number":28,"box":{"x":62,"y":673,"width":305,"height":11}},{"id":"55222dc2-d94c-4351-8505-a7c80725a8de","block_type":"box","text":"(i)","page_number":28,"box":{"x":63,"y":692,"width":12,"height":11}},{"id":"d54a2fec-5e9f-4cc9-80ca-01b4fc28b207","block_type":"box","text":"Emerging Markets","page_number":28,"box":{"x":110,"y":692,"width":145,"height":12}},{"id":"6ef0d096-8723-4873-a0a7-82da573b8889","block_type":"box","text":"Where a Sub-Fund invests in emerging markets, it is","page_number":28,"box":{"x":62,"y":712,"width":399,"height":11}},{"id":"2a92f605-b40a-4142-8c58-34e53954e473","block_type":"box","text":"likely to be more volatile than one that invests in","page_number":28,"box":{"x":62,"y":726,"width":399,"height":11}},{"id":"9dd6c336-8942-4687-b5ae-161da7151799","block_type":"box","text":"developed markets. These markets may not be as","page_number":28,"box":{"x":62,"y":739,"width":399,"height":11}},{"id":"fb2dff3a-cf32-476d-b4a8-f9cfdb4770e2","block_type":"box","text":"strictly regulated, and securities may be harder to buy","page_number":28,"box":{"x":62,"y":753,"width":400,"height":11}},{"id":"cd916ce3-1c9c-4481-8aef-44429547e6d7","block_type":"box","text":"and sell than those in more developed markets. These","page_number":28,"box":{"x":62,"y":767,"width":399,"height":11}},{"id":"1000fd59-7f32-4dcf-8018-3b7e9ca717b3","block_type":"box","text":"markets may also be politically unstable which can","page_number":28,"box":{"x":62,"y":780,"width":399,"height":11}},{"id":"b79700d4-308a-4e9c-bdd8-ad0780c25b8b","block_type":"box","text":"result in the Sub-Fund carrying more risk.","page_number":28,"box":{"x":63,"y":794,"width":305,"height":11}},{"id":"f8998eaf-8124-479a-8ada-c54a1fa2a037","block_type":"box","text":"(ii)","page_number":28,"box":{"x":67,"y":813,"width":16,"height":12}},{"id":"df2a0bf0-518c-490f-9079-d1040b5f83a5","block_type":"box","text":"Smaller Companies","page_number":28,"box":{"x":110,"y":813,"width":155,"height":12}},{"id":"a2882d9c-92b1-46d9-a204-05d216c24ed8","block_type":"box","text":"Where a Sub-Fund invests in shares of smaller","page_number":28,"box":{"x":62,"y":833,"width":400,"height":9}},{"id":"92a1ced1-7eb1-4407-85e9-0add32896ed6","block_type":"box","text":"companies, these shares can be more volatile and","page_number":28,"box":{"x":62,"y":847,"width":399,"height":11}},{"id":"5c7b1be0-279d-4301-b660-cb8bb0fea7f1","block_type":"box","text":"may be harder to buy and sell than larger company","page_number":28,"box":{"x":62,"y":861,"width":400,"height":11}},{"id":"d48e85aa-8c9c-4453-a816-725eee8ef69f","block_type":"box","text":"shares which can result in the Sub-Fund carrying more","page_number":28,"box":{"x":62,"y":874,"width":399,"height":11}},{"id":"7502000b-df7c-4f36-926d-920d3794a26e","block_type":"box","text":"risk.","page_number":28,"box":{"x":63,"y":888,"width":28,"height":9}},{"id":"f2b3b604-f25e-4c96-9ae0-a03b5c2b6a11","block_type":"box","text":"(iii)","page_number":28,"box":{"x":67,"y":907,"width":20,"height":11}},{"id":"8b031460-29f9-4ba7-87fd-c25b86e049e3","block_type":"box","text":"Fixed Interest","page_number":28,"box":{"x":146,"y":907,"width":109,"height":9}},{"id":"6dd2d361-cc02-4b4e-bfd0-115112b41083","block_type":"box","text":"Where a Sub-Fund invests in fixed interest securities,","page_number":28,"box":{"x":523,"y":46,"width":399,"height":10}},{"id":"f1fb1ac1-cfe0-4007-b7c9-5ab4d6ff6322","block_type":"box","text":"such as corporate or government bonds, the value","page_number":28,"box":{"x":523,"y":60,"width":400,"height":11}},{"id":"2f32c5d7-cea4-473e-b8cc-c7545b491ef1","block_type":"box","text":"may go up and down as interest rates change. If","page_number":28,"box":{"x":524,"y":73,"width":399,"height":11}},{"id":"f8649b22-7f69-43c4-b026-41d9dc29b69d","block_type":"box","text":"interest rates rise, the value is likely to fall. Bonds with","page_number":28,"box":{"x":524,"y":87,"width":398,"height":11}},{"id":"0500fecf-79e8-4c08-93a9-1c9824d34ae1","block_type":"box","text":"a lower credit rating are known as sub-investment","page_number":28,"box":{"x":523,"y":100,"width":400,"height":12}},{"id":"5a823fb2-5cbd-4897-8f02-dbe30d19c3e6","block_type":"box","text":"grade or junk bonds. These carry an increased risk that","page_number":28,"box":{"x":523,"y":114,"width":400,"height":11}},{"id":"2b81c0e0-870b-41a6-8761-8d02b24b60dd","block_type":"box","text":"the issuer of the bond will be unable to continue the","page_number":28,"box":{"x":523,"y":128,"width":400,"height":8}},{"id":"b577b6a7-514b-4939-a281-34268821c1db","block_type":"box","text":"interest payments or return the capital at maturity.","page_number":28,"box":{"x":524,"y":142,"width":367,"height":11}},{"id":"154e29ea-459e-4f40-aa88-c1a216e8bfae","block_type":"box","text":"(iv)","page_number":28,"box":{"x":524,"y":161,"width":21,"height":11}},{"id":"be4acf8b-20ac-484d-bbca-a42eaa7db8b9","block_type":"box","text":"Asset-Backed Securities","page_number":28,"box":{"x":606,"y":161,"width":197,"height":9}},{"id":"114bfb35-ac92-4644-8114-73642ecc4d33","block_type":"box","text":"Asset-backed securities represent interests in pools of","page_number":28,"box":{"x":523,"y":181,"width":400,"height":11}},{"id":"92f85821-0acb-4f5b-a5ac-8c4bd051d8b5","block_type":"box","text":"consumer loans such as: credit card receivables,","page_number":28,"box":{"x":523,"y":194,"width":399,"height":10}},{"id":"f1b89380-dcf5-4dfc-8bc2-1064bbeb014d","block_type":"box","text":"motor vehicle loans and leases, or leases on","page_number":28,"box":{"x":524,"y":208,"width":398,"height":10}},{"id":"d8dc7bc1-8ff6-4a4f-827d-b96a63134741","block_type":"box","text":"equipment such as computers, and are subject to","page_number":28,"box":{"x":523,"y":222,"width":400,"height":11}},{"id":"85576238-d977-480a-9a3e-08b009a1bd33","block_type":"box","text":"certain additional risks. Due to the nature of the","page_number":28,"box":{"x":523,"y":235,"width":400,"height":9}},{"id":"ae616113-d48b-48e3-9c53-df0ed2f7c222","block_type":"box","text":"underlying assets, the ability of an issuer of asset","page_number":28,"box":{"x":524,"y":249,"width":399,"height":11}},{"id":"41a506e1-4eb9-4cf0-93c9-d7976066a9ac","block_type":"box","text":"backed securities to enforce its security interest in the","page_number":28,"box":{"x":524,"y":263,"width":399,"height":11}},{"id":"160e7f62-a201-477e-b719-1101c58d4f84","block_type":"box","text":"underlying assets may be limited.","page_number":28,"box":{"x":524,"y":276,"width":245,"height":11}},{"id":"7ebc1258-769d-439f-9036-2c07db388c74","block_type":"box","text":"The principal (amount loaned) on asset-backed","page_number":28,"box":{"x":523,"y":296,"width":399,"height":11}},{"id":"13066eb5-59d4-44b2-9036-e1db2860110a","block_type":"box","text":"securities may be prepaid at any time. Voluntary","page_number":28,"box":{"x":523,"y":310,"width":400,"height":11}},{"id":"86cdc7c1-fa0c-4826-bed8-c9e74c624905","block_type":"box","text":"prepayment of the loan will reduce the yield and","page_number":28,"box":{"x":524,"y":323,"width":398,"height":11}},{"id":"59c07562-13e1-4b64-904e-10e157507921","block_type":"box","text":"market value of an asset-backed security.","page_number":28,"box":{"x":524,"y":337,"width":307,"height":11}},{"id":"afad18a4-2a40-4906-ab2d-2362718dd2ef","block_type":"box","text":"Rising interest rates tend to extend the duration of","page_number":28,"box":{"x":524,"y":356,"width":399,"height":12}},{"id":"e7967a76-c289-4700-8bf0-238a3035f52d","block_type":"box","text":"asset-backed securities, making them more sensitive","page_number":28,"box":{"x":523,"y":370,"width":400,"height":11}},{"id":"b2dd02f2-3ede-4e2a-bc29-18845fc065f6","block_type":"box","text":"to changes in interest rates. As a result, in a period of","page_number":28,"box":{"x":523,"y":384,"width":400,"height":11}},{"id":"eff6e2bd-1bfb-47e4-ae14-efb636ea7ae0","block_type":"box","text":"rising interest rates, volatility of asset-backed","page_number":28,"box":{"x":524,"y":397,"width":398,"height":11}},{"id":"8e0c535b-103e-4a66-9943-39c6429d6534","block_type":"box","text":"securities may increase. The risk of default by","page_number":28,"box":{"x":523,"y":411,"width":400,"height":11}},{"id":"931e5df6-0292-4ef8-8f2d-1b3be89b28c5","block_type":"box","text":"borrowers is greater during periods of rising interest","page_number":28,"box":{"x":524,"y":425,"width":399,"height":11}},{"id":"e63ea98e-75d8-4c56-b2d0-af20938de5d7","block_type":"box","text":"rates and/or unemployment rates.","page_number":28,"box":{"x":524,"y":438,"width":248,"height":11}},{"id":"0cde7c04-cc9d-42b8-9b85-1ac6c5304443","block_type":"box","text":"When interest rates are declining, there are usually","page_number":28,"box":{"x":523,"y":458,"width":400,"height":11}},{"id":"5f1d15ab-7f2f-4a2e-b1cc-5789979ba04b","block_type":"box","text":"more prepayments of loans as borrowers are","page_number":28,"box":{"x":524,"y":471,"width":399,"height":12}},{"id":"ffb64857-e7e6-4e5f-81ac-db008677e375","block_type":"box","text":"motivated to pay off debt and refinance at new lower","page_number":28,"box":{"x":524,"y":485,"width":399,"height":11}},{"id":"5b28ce36-31ec-4e26-8de7-befb8379072c","block_type":"box","text":"rates, which will shorten the life of asset-backed","page_number":28,"box":{"x":524,"y":499,"width":398,"height":10}},{"id":"088f689e-1c47-41ff-9d73-24dc8f2e1ccf","block_type":"box","text":"securities, reducing the potential capital growth. The","page_number":28,"box":{"x":523,"y":513,"width":400,"height":11}},{"id":"8874e0b5-644e-4269-96d9-44e90ce7e7de","block_type":"box","text":"reinvestment of cash received from prepayments will,","page_number":28,"box":{"x":524,"y":526,"width":398,"height":11}},{"id":"6d681e5d-e345-4222-acf0-9743673284ce","block_type":"box","text":"therefore, usually be on less attractive terms and at a","page_number":28,"box":{"x":523,"y":540,"width":400,"height":11}},{"id":"08e2e3b6-8f68-4481-b6dd-e1a284f04872","block_type":"box","text":"lower interest rate than the original investment,","page_number":28,"box":{"x":524,"y":554,"width":398,"height":11}},{"id":"9f21a152-44bc-4e84-a481-bb9496172cca","block_type":"box","text":"lowering the yield payable. The incidence of","page_number":28,"box":{"x":524,"y":567,"width":399,"height":11}},{"id":"c64124b9-6659-41c2-ad69-fde5a2049463","block_type":"box","text":"prepayment of asset-backed securities will also be","page_number":28,"box":{"x":524,"y":581,"width":399,"height":11}},{"id":"b066c4b7-27a5-40a1-8b7d-76fbfaf3865f","block_type":"box","text":"affected by other factors including general economic","page_number":28,"box":{"x":523,"y":594,"width":400,"height":12}},{"id":"6da87c01-f8f7-4fa6-8eca-24a2b6a91646","block_type":"box","text":"and other demographic conditions.","page_number":28,"box":{"x":523,"y":608,"width":256,"height":11}},{"id":"1e414afb-3ecc-48a5-8f2d-e21f9ab312cf","block_type":"box","text":"If a Sub-Fund purchases asset-backed securities that","page_number":28,"box":{"x":524,"y":628,"width":399,"height":11}},{"id":"1091eebf-475f-4373-a88b-f618333aa24b","block_type":"box","text":"are “subordinated” to other interests in the same pool","page_number":28,"box":{"x":523,"y":641,"width":399,"height":11}},{"id":"79dacdc0-f77f-4af8-877c-3e96efcff181","block_type":"box","text":"of assets, that Sub-Fund, as a holder of those","page_number":28,"box":{"x":523,"y":655,"width":400,"height":10}},{"id":"7701926a-87bf-42f8-b513-9c9e311a94b8","block_type":"box","text":"securities, may only receive payments after the pool’s","page_number":28,"box":{"x":523,"y":669,"width":400,"height":11}},{"id":"641a1a9f-dd6a-4fe4-92ff-76007a1e0d2f","block_type":"box","text":"obligations to other investors have been satisfied.","page_number":28,"box":{"x":523,"y":682,"width":366,"height":11}},{"id":"de411a3e-e064-43b5-9571-d7e71366d003","block_type":"box","text":"Instability in the markets for asset-backed securities","page_number":28,"box":{"x":524,"y":702,"width":399,"height":11}},{"id":"e07538c3-7f10-4533-856e-bc66035e95e7","block_type":"box","text":"may affect the liquidity of such securities, which means","page_number":28,"box":{"x":524,"y":716,"width":399,"height":11}},{"id":"936bfda6-e707-42c0-b96f-ccacbace6cb9","block_type":"box","text":"that a Sub-Fund may be unable to sell such securities","page_number":28,"box":{"x":523,"y":729,"width":400,"height":11}},{"id":"8f5ece3b-1f70-45b2-8285-c388aebf5330","block_type":"box","text":"at an advantageous time and price. As a result, the","page_number":28,"box":{"x":523,"y":743,"width":400,"height":11}},{"id":"8fe62433-b2a9-4fc4-b31a-ea62250159d5","block_type":"box","text":"value of such securities may decrease and the Sub","page_number":28,"box":{"x":523,"y":756,"width":399,"height":12}},{"id":"56b38f5a-0fa4-4bde-9f1d-e65ec5506d1d","block_type":"box","text":"Fund may incur greater losses on the sale of such","page_number":28,"box":{"x":524,"y":770,"width":398,"height":11}},{"id":"4a714681-eb8e-4f67-9335-7d08b3fdc27e","block_type":"box","text":"securities than under more stable market conditions.","page_number":28,"box":{"x":523,"y":784,"width":399,"height":9}},{"id":"5abfa9af-6aff-4066-9c05-57e26c0970d5","block_type":"box","text":"Furthermore, instability and illiquidity in the market for","page_number":28,"box":{"x":524,"y":797,"width":399,"height":12}},{"id":"a02fb47e-db8c-4e22-97de-51ce7060b85c","block_type":"box","text":"lower-rated asset-backed securities may affect the","page_number":28,"box":{"x":524,"y":811,"width":399,"height":11}},{"id":"dee9fd91-931e-44fd-93ea-e268dc4def84","block_type":"box","text":"overall market for such securities, thereby impacting","page_number":28,"box":{"x":523,"y":825,"width":399,"height":11}},{"id":"3c60e8b6-939e-4060-a66b-4279243160da","block_type":"box","text":"the liquidity and value of higher-rated securities.","page_number":28,"box":{"x":523,"y":838,"width":354,"height":12}},{"id":"4d24bef1-901a-48ef-819b-d4ffc4e31e44","block_type":"box","text":"(v)","page_number":28,"box":{"x":524,"y":858,"width":17,"height":11}},{"id":"ed923c8c-1b0c-40c5-95c4-610eb3f71c86","block_type":"box","text":"Specialist","page_number":28,"box":{"x":607,"y":858,"width":79,"height":11}},{"id":"1d452d80-ca60-400f-af78-62e7f1f23472","block_type":"box","text":"Where a Sub-Fund invests only in a specific industry","page_number":28,"box":{"x":523,"y":878,"width":400,"height":11}},{"id":"a87e66a3-211b-4920-8333-a938849e8c01","block_type":"box","text":"sector, it may carry more risk than Sub-Funds that","page_number":28,"box":{"x":523,"y":891,"width":400,"height":11}},{"id":"386cb066-6e4a-49b9-a2ba-7f9bca47b2f1","block_type":"box","text":"invest across a variety of sectors. These Sub-Funds","page_number":28,"box":{"x":524,"y":905,"width":399,"height":11}},{"id":"e017f071-5eeb-42c8-923e-096148bb047f","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 29","page_number":29,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"1ce5291d-26c4-4a75-9788-66ff139604bb","block_type":"box","text":"can be more volatile and higher risk due to their lack of","page_number":29,"box":{"x":62,"y":46,"width":400,"height":11}},{"id":"808179b8-331a-40b9-a2f8-2d70b099545c","block_type":"box","text":"diversification.","page_number":29,"box":{"x":62,"y":59,"width":104,"height":9}},{"id":"20527b05-5245-4c19-8cda-433326f01152","block_type":"box","text":"(vi)","page_number":29,"box":{"x":67,"y":79,"width":21,"height":11}},{"id":"c5ed2d75-3104-4be5-b5e7-5b5ab4eb673b","block_type":"box","text":"Single Market","page_number":29,"box":{"x":146,"y":79,"width":109,"height":11}},{"id":"d530e0d1-31e5-42b3-a07b-7714715f6d14","block_type":"box","text":"Where a Sub-Fund focuses investments in a single","page_number":29,"box":{"x":62,"y":99,"width":399,"height":11}},{"id":"252406cb-9123-46d5-91ae-1dd47abd0581","block_type":"box","text":"country, region or currency, the Sub-Fund will have","page_number":29,"box":{"x":62,"y":112,"width":399,"height":12}},{"id":"1e353b39-161e-4a17-9d5e-26a858563de3","block_type":"box","text":"greater exposure to the market, political, economic,","page_number":29,"box":{"x":62,"y":126,"width":399,"height":11}},{"id":"a11f2f74-c7be-4395-8725-5da96df37755","block_type":"box","text":"and currency risks of that country than if it was more","page_number":29,"box":{"x":62,"y":140,"width":399,"height":11}},{"id":"74b64260-d013-4143-afe5-add3da84bf57","block_type":"box","text":"diversified across a number of countries, regions or","page_number":29,"box":{"x":62,"y":153,"width":400,"height":11}},{"id":"97f85deb-909a-44df-a5af-8f0be05d749a","block_type":"box","text":"currencies.","page_number":29,"box":{"x":62,"y":167,"width":80,"height":9}},{"id":"1fe3556d-c1ec-4b23-985d-d55d62ad0377","block_type":"box","text":"(vii)","page_number":29,"box":{"x":67,"y":187,"width":25,"height":11}},{"id":"e4b9354f-efab-4245-bdd6-783e53c3907e","block_type":"box","text":"Money Market","page_number":29,"box":{"x":146,"y":187,"width":112,"height":11}},{"id":"98e51919-cf8c-406f-af77-3ec985cf3f05","block_type":"box","text":"This Sub-Fund is not a cash deposit account but","page_number":29,"box":{"x":62,"y":206,"width":400,"height":11}},{"id":"4730f784-ef15-47d6-be1f-4188769efbf5","block_type":"box","text":"mainly invests in cash and money market instruments","page_number":29,"box":{"x":62,"y":220,"width":399,"height":11}},{"id":"a911940b-e3c0-4444-86db-660914723727","block_type":"box","text":"(which are assets with high liquidity, meaning they","page_number":29,"box":{"x":63,"y":233,"width":399,"height":12}},{"id":"77d73228-8d46-49eb-9d80-39dc4954c85d","block_type":"box","text":"have similar characteristics to cash deposits with","page_number":29,"box":{"x":62,"y":247,"width":399,"height":11}},{"id":"6c355ed5-f5ef-48dc-b21d-33f23610caeb","block_type":"box","text":"banks). In a low interest rate environment any charges","page_number":29,"box":{"x":62,"y":261,"width":399,"height":11}},{"id":"3616cec0-f9ee-4130-b5bd-12853108807b","block_type":"box","text":"applied to a money market fund may be greater than","page_number":29,"box":{"x":62,"y":274,"width":399,"height":12}},{"id":"271b6e7d-f79d-4625-a9f9-a621d3e81e41","block_type":"box","text":"its return, so you would get back less than you have","page_number":29,"box":{"x":62,"y":288,"width":399,"height":11}},{"id":"e9cc24ba-1dbc-4f03-9a43-4ef557bfbea0","block_type":"box","text":"paid in.","page_number":29,"box":{"x":62,"y":302,"width":52,"height":11}},{"id":"ac946f5d-0d29-4234-8cfd-859c58990898","block_type":"box","text":"(viii)","page_number":29,"box":{"x":67,"y":321,"width":28,"height":11}},{"id":"c79b1a28-ac0e-4292-989c-a1056ffe81b9","block_type":"box","text":"Index-Linked","page_number":29,"box":{"x":146,"y":321,"width":104,"height":9}},{"id":"b769e34d-8477-41b1-ac98-e39b3668876c","block_type":"box","text":"Where a Sub-Fund invests in index-linked bonds, the","page_number":29,"box":{"x":62,"y":341,"width":399,"height":10}},{"id":"ec349dd8-340a-4e31-b626-11e9f484ce37","block_type":"box","text":"value may go up and down as the rate of inflation","page_number":29,"box":{"x":62,"y":354,"width":399,"height":12}},{"id":"c594b4c3-e4a8-4a51-bd87-c5662dafbe55","block_type":"box","text":"changes. If inflation falls, the value is likely to fall.","page_number":29,"box":{"x":62,"y":368,"width":363,"height":11}},{"id":"f107bec2-97f2-4a73-bd0c-2c691a4e0f9d","block_type":"box","text":"(ix)","page_number":29,"box":{"x":63,"y":388,"width":21,"height":11}},{"id":"98f20478-cb31-4af3-b1c6-d324970ac441","block_type":"box","text":"Environmental, Social and Governance","page_number":29,"box":{"x":146,"y":388,"width":317,"height":10}},{"id":"70e1eea5-aa4c-49df-86a6-c7b0af4eb727","block_type":"box","text":"(ESG)","page_number":29,"box":{"x":63,"y":401,"width":45,"height":12}},{"id":"1c76d701-7361-45b8-9ad0-7195354a1e41","block_type":"box","text":"If a Sub-Fund has an explicit sustainability objective or","page_number":29,"box":{"x":63,"y":421,"width":399,"height":11}},{"id":"5cebac63-54db-4753-9789-d7713e5ef43f","block_type":"box","text":"is required to invest in accordance with specific ESG","page_number":29,"box":{"x":62,"y":435,"width":399,"height":11}},{"id":"7382a9d2-05bf-4029-9bd5-073d2bde3ece","block_type":"box","text":"investment criteria, this may limit the choice of","page_number":29,"box":{"x":62,"y":448,"width":400,"height":12}},{"id":"1e6d33d7-7b00-429e-9ade-2170cd6c62c8","block_type":"box","text":"investments. The Sub-Fund may not perform in line","page_number":29,"box":{"x":62,"y":462,"width":399,"height":11}},{"id":"ac926a14-e128-406a-ae43-6f69a0d728cd","block_type":"box","text":"(either positively or negatively) with either the market","page_number":29,"box":{"x":63,"y":476,"width":399,"height":11}},{"id":"1ec82d7e-e885-4e88-86a4-40b583bb45e6","block_type":"box","text":"(as represented by the relevant benchmarks/indices","page_number":29,"box":{"x":63,"y":489,"width":398,"height":11}},{"id":"5baae118-6643-4df0-b72a-520a57d1dec0","block_type":"box","text":"used by the relevant Sub-Fund), or other funds that","page_number":29,"box":{"x":63,"y":503,"width":399,"height":11}},{"id":"9001062c-17da-4225-83c0-9d4cd91344d5","block_type":"box","text":"have a broader investment policy. A Sub-Fund with a","page_number":29,"box":{"x":62,"y":517,"width":400,"height":11}},{"id":"9daeb39c-fe20-44ce-a3ab-0899854c82fe","block_type":"box","text":"sustainability objective or which invests in accordance","page_number":29,"box":{"x":62,"y":530,"width":399,"height":11}},{"id":"391ba84b-a8ac-40ad-92c7-433ed551d916","block_type":"box","text":"with specific ESG investment criteria may exercise any","page_number":29,"box":{"x":62,"y":544,"width":400,"height":11}},{"id":"16c9e7a5-c7ca-4ece-b6af-353c08463eba","block_type":"box","text":"voting rights it has in relation to an investment in a","page_number":29,"box":{"x":62,"y":558,"width":400,"height":11}},{"id":"e1865b50-5fa8-4cbd-bdd4-c53b6e4c4684","block_type":"box","text":"manner that is consistent with such objective or","page_number":29,"box":{"x":62,"y":571,"width":400,"height":11}},{"id":"8c4380dc-c0be-4261-9fa6-ad04d12d0f29","block_type":"box","text":"criteria, which may not always be consistent with","page_number":29,"box":{"x":62,"y":585,"width":399,"height":11}},{"id":"e1998cd4-a539-4836-8371-7088a840bb51","block_type":"box","text":"maximising the investment performance of the","page_number":29,"box":{"x":62,"y":599,"width":399,"height":11}},{"id":"7de5bcc8-760d-4139-b568-c123af125d67","block_type":"box","text":"relevant investment or issuer.","page_number":29,"box":{"x":63,"y":612,"width":216,"height":9}},{"id":"e16e821b-5c20-40b2-8c07-eae9949be722","block_type":"box","text":"In evaluating an investment based on ESG criteria, the","page_number":29,"box":{"x":63,"y":639,"width":398,"height":12}},{"id":"f0504a19-b314-4b5a-9933-3791f91e9626","block_type":"box","text":"Investment Manager is dependent upon information","page_number":29,"box":{"x":63,"y":653,"width":398,"height":11}},{"id":"221f98b5-9152-48cc-a235-6d5bf60a1efb","block_type":"box","text":"and data from third party resources, including the","page_number":29,"box":{"x":62,"y":667,"width":399,"height":11}},{"id":"e29ce4e5-9e09-4916-aa88-6bcbd84f47d7","block_type":"box","text":"counterparty and data providers, which may be","page_number":29,"box":{"x":62,"y":681,"width":399,"height":11}},{"id":"bcefc910-1649-457d-9d47-f87cdd8a2d06","block_type":"box","text":"incomplete, inaccurate, inconsistent or unavailable. As","page_number":29,"box":{"x":62,"y":694,"width":399,"height":11}},{"id":"a8deefc0-6cd5-45fe-9ccf-c2d56f166866","block_type":"box","text":"a result, there is a risk that the Investment Manager","page_number":29,"box":{"x":62,"y":708,"width":400,"height":11}},{"id":"30b9833e-9872-4db6-ad21-171be19773ba","block_type":"box","text":"may incorrectly assess an investment or issuer. There","page_number":29,"box":{"x":62,"y":722,"width":399,"height":11}},{"id":"4f744868-4b7e-4940-b1fa-40c7a3f26ab6","block_type":"box","text":"is also a risk that the Investment Manager may not","page_number":29,"box":{"x":62,"y":735,"width":400,"height":11}},{"id":"8415dc0e-14dd-41b1-b96f-8231222911f3","block_type":"box","text":"apply the relevant ESG criteria correctly or that a Sub","page_number":29,"box":{"x":62,"y":749,"width":399,"height":11}},{"id":"bbfba7d7-5549-4c75-8e25-ad9f08eb5e9c","block_type":"box","text":"Fund with a sustainability objective or which invests in","page_number":29,"box":{"x":63,"y":763,"width":398,"height":11}},{"id":"f85a68ec-e97d-404e-974b-16ca3f35d0dd","block_type":"box","text":"accordance with specific ESG investment criteria may","page_number":29,"box":{"x":62,"y":776,"width":400,"height":11}},{"id":"50b3914d-a548-47f2-93ed-b806e76a09ec","block_type":"box","text":"nonetheless gain exposure to investments which are","page_number":29,"box":{"x":62,"y":790,"width":399,"height":11}},{"id":"8282501d-0b93-40c8-a273-2f7f1be4eb5f","block_type":"box","text":"not consistent with the Sub-Fund’s objective or","page_number":29,"box":{"x":62,"y":803,"width":400,"height":11}},{"id":"445e08a5-0cbe-4af6-be77-7956ee065d99","block_type":"box","text":"investment criteria.","page_number":29,"box":{"x":62,"y":817,"width":139,"height":9}},{"id":"2f19838a-8830-43a1-9846-231d5d182248","block_type":"box","text":"(x)","page_number":29,"box":{"x":63,"y":837,"width":17,"height":11}},{"id":"f042f337-f8aa-420f-85e8-51bbb7c1ad10","block_type":"box","text":"Alternatives","page_number":29,"box":{"x":145,"y":837,"width":96,"height":8}},{"id":"76e100bc-4c4b-4ee3-b0ee-680b0a3c304c","block_type":"box","text":"Where a Sub-Fund invests in alternatives, it may carry","page_number":29,"box":{"x":62,"y":856,"width":400,"height":11}},{"id":"068b0aa6-a42f-4a8d-aae7-ba4e36c4f53c","block_type":"box","text":"more risk as these instruments are generally priced","page_number":29,"box":{"x":62,"y":870,"width":399,"height":11}},{"id":"73b0ed29-cac0-42d1-8683-bc222af61108","block_type":"box","text":"less regularly and may be harder to buy and sell than","page_number":29,"box":{"x":62,"y":884,"width":399,"height":11}},{"id":"5b01ab53-ffbd-46f0-a2bb-bab0a65de629","block_type":"box","text":"investments in more conventional asset classes.","page_number":29,"box":{"x":62,"y":897,"width":399,"height":9}},{"id":"cdbcf0d5-c65c-41b9-ba6a-c83ac4bd820b","block_type":"box","text":"Alternatives include commodities, hedge funds, equity","page_number":29,"box":{"x":62,"y":911,"width":400,"height":11}},{"id":"2cdd2cc7-29d6-48fe-a3f7-68384aba1550","block_type":"box","text":"or debt securities of unlisted companies, real estate","page_number":29,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"fe2fcc2c-6d44-4974-a89b-d9c6fa853572","block_type":"box","text":"trusts (REITS) and venture capital.","page_number":29,"box":{"x":523,"y":59,"width":256,"height":11}},{"id":"a69a8ba0-6250-4683-bfd6-8460e37204db","block_type":"box","text":"(xi)","page_number":29,"box":{"x":533,"y":79,"width":21,"height":11}},{"id":"caeaad7b-dc96-46a5-af90-d3a4baab5489","block_type":"box","text":"Concentration","page_number":29,"box":{"x":608,"y":79,"width":112,"height":9}},{"id":"87d23be7-9db3-4df5-867e-33e0dfdd4c5d","block_type":"box","text":"Sub-Funds may hold a limited number of holdings and","page_number":29,"box":{"x":523,"y":99,"width":399,"height":11}},{"id":"c28e7528-2816-4840-a7e0-8089ccbda753","block_type":"box","text":"the effect of this, together with its long term approach","page_number":29,"box":{"x":523,"y":112,"width":399,"height":12}},{"id":"b893fcfb-9bcc-471a-8b30-fb99663bb571","block_type":"box","text":"to investment, could result in large movements in the","page_number":29,"box":{"x":523,"y":126,"width":400,"height":11}},{"id":"d07a25df-9ba4-4ccc-afc1-986eed6f1687","block_type":"box","text":"Unit price, or for Sub-Funds whose investment policy","page_number":29,"box":{"x":524,"y":139,"width":399,"height":12}},{"id":"c1fd835f-beb0-46ce-ac60-a571bc43c297","block_type":"box","text":"is to seek exposure through other collective","page_number":29,"box":{"x":524,"y":153,"width":399,"height":11}},{"id":"3aa1ef24-a75f-4717-b7db-02dee501775a","block_type":"box","text":"investment schemes, could result in an increased","page_number":29,"box":{"x":524,"y":167,"width":398,"height":10}},{"id":"1e65ac4f-a67f-4cac-8d25-fea7bd7b16b8","block_type":"box","text":"exposure to the risk of suspension of those collective","page_number":29,"box":{"x":523,"y":181,"width":400,"height":11}},{"id":"6f9ac9b8-464a-4238-b75f-f9902efde316","block_type":"box","text":"investment schemes.","page_number":29,"box":{"x":524,"y":194,"width":155,"height":9}},{"id":"082ba4bc-5b0d-43c1-8183-31b363b84497","block_type":"box","text":"(xii)","page_number":29,"box":{"x":533,"y":214,"width":25,"height":11}},{"id":"7540c78e-8844-4d3c-b17c-6c40ce9ea687","block_type":"box","text":"Active management","page_number":29,"box":{"x":606,"y":214,"width":160,"height":11}},{"id":"be428139-bf45-44d1-8fe1-b7aa0b05a160","block_type":"box","text":"There may be a higher turnover in a Sub-Fund. The","page_number":29,"box":{"x":523,"y":233,"width":400,"height":12}},{"id":"e2542291-d37e-487d-be83-f00bc17a170b","block_type":"box","text":"Sub-Fund pays transaction costs, such as","page_number":29,"box":{"x":523,"y":247,"width":400,"height":11}},{"id":"053fdf66-3b89-49d4-a53b-01fc5eff3aaf","block_type":"box","text":"commissions, when it purchases and sells securities","page_number":29,"box":{"x":523,"y":261,"width":400,"height":11}},{"id":"62e6b487-dfbe-4372-9739-63124e73761f","block_type":"box","text":"(or ‘turns-over’ its portfolio). A higher portfolio turnover","page_number":29,"box":{"x":524,"y":274,"width":399,"height":12}},{"id":"f54d0029-503c-4004-b619-2103d30249a3","block_type":"box","text":"will cause the Sub-Fund to incur additional transaction","page_number":29,"box":{"x":523,"y":288,"width":399,"height":9}},{"id":"327967fc-d54e-4dac-9250-f7b2d1977e6c","block_type":"box","text":"costs and associated costs which may affect the Sub","page_number":29,"box":{"x":523,"y":302,"width":400,"height":11}},{"id":"d82e4dd4-2a72-4942-b51e-484a2da104a2","block_type":"box","text":"Fund’s performance.","page_number":29,"box":{"x":524,"y":315,"width":151,"height":11}},{"id":"bff9a318-0e97-4a22-9cd8-847933e8ec46","block_type":"box","text":"(xiii)","page_number":29,"box":{"x":524,"y":335,"width":28,"height":11}},{"id":"6ac7e54e-1c1e-416c-8ab7-4203a4ac1bf9","block_type":"box","text":"Equity Securities","page_number":29,"box":{"x":607,"y":335,"width":136,"height":11}},{"id":"260e438e-fcfe-4e32-bb7d-303f5d0388ce","block_type":"box","text":"The value of equity securities fluctuates daily and can","page_number":29,"box":{"x":523,"y":354,"width":399,"height":12}},{"id":"c9e5aebb-0407-43f0-9c21-066225650d35","block_type":"box","text":"be influenced by many micro and macro factors such","page_number":29,"box":{"x":524,"y":368,"width":398,"height":11}},{"id":"a13aa07b-2809-49fb-a6ca-adfaf908fe06","block_type":"box","text":"as political and economic news, corporate earnings","page_number":29,"box":{"x":523,"y":382,"width":400,"height":11}},{"id":"b4e9068f-8b4d-415c-b291-9e0f17433031","block_type":"box","text":"report, demographic trends and catastrophic events.","page_number":29,"box":{"x":524,"y":396,"width":398,"height":11}},{"id":"9f9c1eb5-4202-4ae0-a10e-c72969f30bb1","block_type":"box","text":"The prices of equities can be influenced by factors","page_number":29,"box":{"x":523,"y":409,"width":400,"height":11}},{"id":"6cd8e082-fa8a-4fdb-934c-f70a0e7ddd03","block_type":"box","text":"affecting the performance of the individual companies","page_number":29,"box":{"x":523,"y":423,"width":400,"height":11}},{"id":"312b05b8-417c-4ff5-9790-5ad8ee3e0299","block_type":"box","text":"issuing the equities, as well as by daily stock market","page_number":29,"box":{"x":524,"y":437,"width":399,"height":11}},{"id":"e7f6fd94-4561-44a5-a4e1-f220f73bca7c","block_type":"box","text":"movements, and broader economic and political","page_number":29,"box":{"x":524,"y":450,"width":398,"height":11}},{"id":"888961c5-5b73-4dda-b92e-d60c907a90ba","block_type":"box","text":"developments, including trends in economic growth,","page_number":29,"box":{"x":523,"y":464,"width":399,"height":11}},{"id":"c26246c2-d9d2-41dd-afc7-a73de01ec214","block_type":"box","text":"inflation and interest rates. The value of equities will go","page_number":29,"box":{"x":524,"y":477,"width":399,"height":12}},{"id":"aa528b96-e289-45eb-a251-6f814882c7aa","block_type":"box","text":"up and down and a Sub-Fund investing in equities","page_number":29,"box":{"x":524,"y":491,"width":399,"height":11}},{"id":"ff4bc8be-7a0a-4208-8f7c-f990059cada9","block_type":"box","text":"could incur significant losses.","page_number":29,"box":{"x":523,"y":505,"width":216,"height":11}},{"id":"a4d9c9c3-95ac-4f92-bb93-f38de709eb64","block_type":"box","text":"(xiv)","page_number":29,"box":{"x":554,"y":530,"width":30,"height":11}},{"id":"b78bd47b-3ec0-4804-a4d8-0161de1b02ac","block_type":"box","text":"Stock Connect Risk","page_number":29,"box":{"x":602,"y":530,"width":158,"height":9}},{"id":"c6f31363-7fca-4ecf-935b-cecfd0e8d401","block_type":"box","text":"The AI Stewardship International Equity Fund, the AI","page_number":29,"box":{"x":523,"y":556,"width":399,"height":11}},{"id":"dc71d476-1705-4e29-a76b-a3fe52048e41","block_type":"box","text":"Asia Pacific Ex Japan Fund, the AI Global Equity Fund,","page_number":29,"box":{"x":523,"y":569,"width":399,"height":12}},{"id":"fdc6f9da-2c14-4c5b-b947-fbf807a317e0","block_type":"box","text":"the AI Global Equity Growth Fund, the Aviva Investors","page_number":29,"box":{"x":523,"y":583,"width":400,"height":11}},{"id":"047c7b14-e71c-44be-bb47-34e0d46969db","block_type":"box","text":"Pacific Equity Ex Japan Core Fund and Aviva","page_number":29,"box":{"x":524,"y":597,"width":399,"height":11}},{"id":"8a8d5b1d-f4d7-4386-8b24-9ac28a40a591","block_type":"box","text":"Investors Emerging Market Equity Core Fund may","page_number":29,"box":{"x":524,"y":610,"width":399,"height":12}},{"id":"01c130d9-89a4-4377-9de3-960b77836e37","block_type":"box","text":"invest in China A-Shares through the Shanghai-Hong","page_number":29,"box":{"x":524,"y":624,"width":398,"height":11}},{"id":"debe9d7d-b911-4b9e-9077-64816282ff47","block_type":"box","text":"Kong Stock Connect and the Shenzhen-Hong Kong","page_number":29,"box":{"x":524,"y":638,"width":398,"height":11}},{"id":"72f23728-2c55-40f5-bc09-d5dec2705000","block_type":"box","text":"Stock Connect programmes (the “Stock Connect”).","page_number":29,"box":{"x":523,"y":651,"width":399,"height":12}},{"id":"ddbd8222-ca77-4338-a77a-90a9909a668d","block_type":"box","text":"The Stock Connect is a securities trading and clearing","page_number":29,"box":{"x":523,"y":665,"width":399,"height":11}},{"id":"f97f86fb-d630-467a-a824-5094d346f9bb","block_type":"box","text":"linked programme developed by Hong Kong","page_number":29,"box":{"x":524,"y":679,"width":398,"height":11}},{"id":"6ff15576-88f3-4bed-84ea-5592073d49c6","block_type":"box","text":"Exchanges and Clearing Limited, the Hong Kong","page_number":29,"box":{"x":524,"y":692,"width":398,"height":12}},{"id":"02adc9bd-c7db-4813-ae6c-b3149c207bfc","block_type":"box","text":"Securities Clearing Company Limited (\"HKSCC\"),","page_number":29,"box":{"x":523,"y":706,"width":399,"height":11}},{"id":"8c38da20-9796-4f6e-a5ea-0985da97ecb0","block_type":"box","text":"Shanghai Stock Exchange, Shenzhen Stock","page_number":29,"box":{"x":523,"y":720,"width":400,"height":11}},{"id":"914c7e8c-a256-4627-a243-00cb8533d744","block_type":"box","text":"Exchange and China Securities Depository and","page_number":29,"box":{"x":524,"y":733,"width":398,"height":12}},{"id":"8eb16165-ee0b-491a-8220-3c205f3009e2","block_type":"box","text":"Clearing Corporation Limited (\"ChinaClear\") with an","page_number":29,"box":{"x":523,"y":747,"width":399,"height":11}},{"id":"42315f34-82b0-471d-b391-c5a7e77b0c0f","block_type":"box","text":"aim to achieve mutual stock market access between","page_number":29,"box":{"x":523,"y":761,"width":399,"height":8}},{"id":"6ce4e07e-dbd4-4682-ae49-7ede078ea351","block_type":"box","text":"mainland China and Hong Kong. The Stock Connect","page_number":29,"box":{"x":524,"y":774,"width":399,"height":12}},{"id":"9e44da3b-1f23-4a9e-a84c-3489cf5e3925","block_type":"box","text":"allows foreign investors to trade certain Shanghai","page_number":29,"box":{"x":523,"y":788,"width":399,"height":11}},{"id":"63b596bc-1c25-4d9a-974c-408badf13615","block_type":"box","text":"Stock Exchange or Shenzhen Stock Exchanges listed","page_number":29,"box":{"x":523,"y":802,"width":399,"height":11}},{"id":"bcc407a9-6db5-446c-9f24-8637802cd552","block_type":"box","text":"China A-Shares through their Hong Kong based","page_number":29,"box":{"x":523,"y":815,"width":399,"height":11}},{"id":"baba398f-dd61-4598-8f11-11608caa340e","block_type":"box","text":"brokers. The Sub-Fund seeking to invest via the Stock","page_number":29,"box":{"x":524,"y":829,"width":399,"height":11}},{"id":"3bfab921-463c-4427-acfa-90eef24e05e1","block_type":"box","text":"Connect is subject to the following additional risks:","page_number":29,"box":{"x":523,"y":842,"width":373,"height":12}},{"id":"367e33d3-17d5-4ee9-9761-9d77309e1c39","block_type":"box","text":"","page_number":29,"box":{"x":547,"y":874,"width":8,"height":1}},{"id":"f3e4c50a-160a-47a1-978a-2656bd74de2a","block_type":"box","text":"Clearing and Settlement Risk: The HKSCC and","page_number":29,"box":{"x":571,"y":869,"width":351,"height":11}},{"id":"2a6fa27d-fdbd-4f70-ba46-d835e34b41c0","block_type":"box","text":"ChinaClear have established the clearing links","page_number":29,"box":{"x":571,"y":883,"width":352,"height":11}},{"id":"cbcc1ddc-2c78-4adb-8679-d7ffb47e65ec","block_type":"box","text":"and each will become a participant of each other","page_number":29,"box":{"x":571,"y":896,"width":352,"height":11}},{"id":"d3cdfaed-7860-45c8-9b73-620a2abd1a14","block_type":"box","text":"to facilitate clearing and settlement of cross-","page_number":29,"box":{"x":570,"y":910,"width":353,"height":11}},{"id":"e8b15576-286e-4130-91a7-1c645f23291a","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 30","page_number":30,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"6522ae06-2af7-47f7-a447-fc01e0e66ba0","block_type":"box","text":"boundary trades. For cross-boundary trades","page_number":30,"box":{"x":110,"y":46,"width":351,"height":11}},{"id":"384ed6eb-5cd3-4bbe-b074-517f92b0638b","block_type":"box","text":"initiated in a market, the clearing house of that","page_number":30,"box":{"x":110,"y":59,"width":352,"height":12}},{"id":"19d140e9-1c12-4fcd-a2ea-9cc75d635cf4","block_type":"box","text":"market will on one hand clear and settle with its","page_number":30,"box":{"x":110,"y":73,"width":351,"height":9}},{"id":"430c3bab-c2cc-4293-b746-155950b36481","block_type":"box","text":"own clearing participants, and on the other hand","page_number":30,"box":{"x":110,"y":87,"width":351,"height":11}},{"id":"61197b52-4fba-4b8d-93ae-9a164cda9272","block_type":"box","text":"undertake to fulfil the clearing and settlement","page_number":30,"box":{"x":110,"y":100,"width":352,"height":12}},{"id":"78eef7e3-150a-44a7-a03b-97613ea99fdf","block_type":"box","text":"obligations of its clearing participants with the","page_number":30,"box":{"x":110,"y":114,"width":351,"height":11}},{"id":"792f2b9a-9ad6-479c-bc92-4fa6cfdbc505","block_type":"box","text":"counterparty clearing house. As the national","page_number":30,"box":{"x":110,"y":128,"width":351,"height":11}},{"id":"d84ee961-4698-4d96-8332-9ec321103982","block_type":"box","text":"central counterparty of the PRC’s securities","page_number":30,"box":{"x":110,"y":141,"width":351,"height":12}},{"id":"6747afad-d07d-40a0-af11-6f4c3c82832a","block_type":"box","text":"market, ChinaClear operates a comprehensive","page_number":30,"box":{"x":110,"y":155,"width":351,"height":11}},{"id":"01bcd5bc-f942-46ea-b4c5-3748e65f938a","block_type":"box","text":"network of clearing, settlement and stock","page_number":30,"box":{"x":110,"y":169,"width":352,"height":11}},{"id":"a58ab766-22b7-4591-9d11-a6778616e74f","block_type":"box","text":"holding infrastructure. ChinaClear has","page_number":30,"box":{"x":110,"y":182,"width":351,"height":12}},{"id":"df8fc22b-ea2e-48a4-b9c6-29be307b2599","block_type":"box","text":"established a risk management framework and","page_number":30,"box":{"x":110,"y":196,"width":351,"height":11}},{"id":"d78e34d0-3324-444c-9405-2bef23e22a8b","block_type":"box","text":"measures that are approved and supervised by","page_number":30,"box":{"x":110,"y":210,"width":352,"height":11}},{"id":"74cf1ebc-bd1f-42f8-8869-7ca95ab52b98","block_type":"box","text":"the China Securities Regulatory Commission.","page_number":30,"box":{"x":109,"y":223,"width":352,"height":12}},{"id":"87ab4aa2-e091-42df-847a-461bf6c6dd85","block_type":"box","text":"The chances of a ChinaClear default are","page_number":30,"box":{"x":109,"y":237,"width":352,"height":9}},{"id":"3831ede9-1f1a-4a3c-a5fb-c38144e9f3e5","block_type":"box","text":"considered to be remote. In the event","page_number":30,"box":{"x":110,"y":251,"width":352,"height":8}},{"id":"8ab3a0eb-cc86-49c5-a07a-2fa338a6241f","block_type":"box","text":"ChinaClear defaults, HKSCC's liabilities under","page_number":30,"box":{"x":110,"y":264,"width":352,"height":11}},{"id":"742fcc12-9b54-45f6-a270-b2ed281ae095","block_type":"box","text":"its market contracts with clearing participants","page_number":30,"box":{"x":110,"y":278,"width":351,"height":11}},{"id":"1aed7997-3a94-444a-affd-8d76598e7b49","block_type":"box","text":"will be limited to assisting clearing participants","page_number":30,"box":{"x":109,"y":292,"width":352,"height":11}},{"id":"a8209c32-c3e5-43aa-833a-c4b41398e10d","block_type":"box","text":"in pursuing their claims against ChinaClear.","page_number":30,"box":{"x":110,"y":305,"width":351,"height":11}},{"id":"66f2c322-f050-40aa-9764-9dfa278348e3","block_type":"box","text":"HKSCC should act in good faith to seek","page_number":30,"box":{"x":110,"y":319,"width":352,"height":11}},{"id":"c320ad68-12c0-43d6-a2c1-867e5770e19f","block_type":"box","text":"recovery of the outstanding stocks and monies","page_number":30,"box":{"x":110,"y":333,"width":351,"height":11}},{"id":"fe56585c-6e7d-4539-a995-fe3ef8e77739","block_type":"box","text":"from ChinaClear through available legal","page_number":30,"box":{"x":109,"y":346,"width":352,"height":11}},{"id":"a28e98bc-28fd-4034-be80-209539532977","block_type":"box","text":"channels or the liquidation of ChinaClear. In that","page_number":30,"box":{"x":110,"y":360,"width":352,"height":11}},{"id":"dc924bc8-5ca5-4bb0-a299-b4004f17a6ca","block_type":"box","text":"event, the Sub-Fund may not fully recover its","page_number":30,"box":{"x":110,"y":373,"width":351,"height":12}},{"id":"1b01b758-ffd2-4683-a727-4e6267a576b7","block_type":"box","text":"losses or its Stock Connect securities or the","page_number":30,"box":{"x":110,"y":387,"width":351,"height":9}},{"id":"e2dc2f8f-d3f7-44c4-afb0-db7365256090","block_type":"box","text":"process of recovery could be delayed.","page_number":30,"box":{"x":110,"y":401,"width":280,"height":11}},{"id":"ba96697e-745b-4204-b352-a51b1a64524b","block_type":"box","text":"","page_number":30,"box":{"x":85,"y":432,"width":9,"height":1}},{"id":"15571a0b-5930-47e2-bf01-060d80aad051","block_type":"box","text":"Legal/Beneficial Ownership: Where securities","page_number":30,"box":{"x":110,"y":427,"width":351,"height":11}},{"id":"a6455294-ccee-4545-805f-2836a7f70191","block_type":"box","text":"are held in custody on a cross-border basis,","page_number":30,"box":{"x":110,"y":441,"width":350,"height":11}},{"id":"102f4874-9d2c-4f82-b5ae-50a3cdde65a7","block_type":"box","text":"there are specific legal/beneficial ownership","page_number":30,"box":{"x":109,"y":454,"width":352,"height":12}},{"id":"32cb7436-70f1-4f08-8da2-57bc37153ae4","block_type":"box","text":"risks linked to compulsory requirements of the","page_number":30,"box":{"x":110,"y":468,"width":351,"height":11}},{"id":"b3bb52ee-8b8a-4d29-a939-594a00e3d341","block_type":"box","text":"local Central Securities Depositaries, HKSCC","page_number":30,"box":{"x":110,"y":482,"width":351,"height":11}},{"id":"81193b5a-df49-4b5c-bd05-9a7863795a88","block_type":"box","text":"and ChinaClear. As in other emerging and less","page_number":30,"box":{"x":110,"y":495,"width":351,"height":12}},{"id":"e919a01f-a5ed-498d-8a65-295167e1a859","block_type":"box","text":"developed markets, the legislative framework is","page_number":30,"box":{"x":110,"y":509,"width":351,"height":11}},{"id":"4f232563-9385-44ca-ac26-0b6627c4f92a","block_type":"box","text":"only beginning to develop the concept of","page_number":30,"box":{"x":110,"y":523,"width":352,"height":11}},{"id":"b96ca198-4fbb-4505-92f6-ae062f9bb8fe","block_type":"box","text":"legal/formal ownership and of beneficial","page_number":30,"box":{"x":110,"y":536,"width":351,"height":12}},{"id":"f3e9dc8a-0725-4c3d-a4be-cf724c6444ae","block_type":"box","text":"ownership or interest in securities. In addition,","page_number":30,"box":{"x":110,"y":550,"width":350,"height":11}},{"id":"e5ebe05f-365b-4c95-85e4-d3d4ef7b91f1","block_type":"box","text":"HKSCC, as nominee holder, does not","page_number":30,"box":{"x":110,"y":564,"width":352,"height":10}},{"id":"5f63d4bc-80a4-4f5f-9b31-094434d22cb6","block_type":"box","text":"guarantee the title to Stock Connect securities","page_number":30,"box":{"x":110,"y":577,"width":351,"height":12}},{"id":"29e6fa7f-10e7-48b4-a4a0-213e1822f2f9","block_type":"box","text":"held through it and is under no obligation to","page_number":30,"box":{"x":110,"y":591,"width":351,"height":11}},{"id":"c64b59e1-9299-42e5-a213-ce44790133e7","block_type":"box","text":"enforce title or other rights associated with","page_number":30,"box":{"x":110,"y":605,"width":351,"height":11}},{"id":"0dc91ea1-3993-4f6d-9a19-e705c4d485e2","block_type":"box","text":"ownership on behalf of beneficial owners.","page_number":30,"box":{"x":110,"y":618,"width":351,"height":11}},{"id":"e22eac39-d914-4ee6-9b83-8c902617d7cc","block_type":"box","text":"Consequently, the courts may consider that any","page_number":30,"box":{"x":110,"y":632,"width":352,"height":11}},{"id":"974a33f6-0005-48fe-a4d7-2af07f74a22b","block_type":"box","text":"nominee or custodian as registered holder of","page_number":30,"box":{"x":110,"y":646,"width":352,"height":11}},{"id":"65fcbb81-1f1a-4313-be3c-c27721b85c9c","block_type":"box","text":"Stock Connect securities would have full","page_number":30,"box":{"x":110,"y":659,"width":351,"height":9}},{"id":"3c50c247-2fe0-44ca-b3fc-19ed409e7f71","block_type":"box","text":"ownership thereof, and that those Stock","page_number":30,"box":{"x":110,"y":673,"width":352,"height":11}},{"id":"66cc960f-ca6e-42f5-b164-71adf9c667c2","block_type":"box","text":"Connect securities would form part of the pool","page_number":30,"box":{"x":110,"y":687,"width":351,"height":11}},{"id":"93ef6b75-58d7-47c2-b3ac-61079f3750e6","block_type":"box","text":"of assets of such entity available for distribution","page_number":30,"box":{"x":110,"y":700,"width":351,"height":11}},{"id":"4f6c41ca-1018-4b73-b13d-b440dce08e6f","block_type":"box","text":"to creditors of such entities and/or that a","page_number":30,"box":{"x":109,"y":714,"width":353,"height":9}},{"id":"c6146d74-19b9-4caa-8823-71f3e8f24124","block_type":"box","text":"beneficial owner may have no rights whatsoever","page_number":30,"box":{"x":110,"y":728,"width":352,"height":11}},{"id":"ace8fc45-8614-41b5-a9e1-2ecf2d761e6d","block_type":"box","text":"in respect thereof. Consequently the Sub-Fund","page_number":30,"box":{"x":110,"y":741,"width":351,"height":11}},{"id":"9013c039-2e88-40fa-891b-e2e3c1ee6768","block_type":"box","text":"and the Depositary cannot ensure that the Sub","page_number":30,"box":{"x":110,"y":755,"width":351,"height":11}},{"id":"0ab36f86-6878-45db-a607-05bca48ebccc","block_type":"box","text":"Fund’s ownership of these securities or title","page_number":30,"box":{"x":110,"y":769,"width":351,"height":11}},{"id":"10205e98-8cd5-402e-9730-44b776d5145d","block_type":"box","text":"thereto is assured. To the extent that HKSCC is","page_number":30,"box":{"x":109,"y":782,"width":352,"height":9}},{"id":"1c2567f6-d065-44a3-b7ae-ac36b062e591","block_type":"box","text":"deemed to be performing safekeeping functions","page_number":30,"box":{"x":110,"y":796,"width":351,"height":11}},{"id":"046b7165-e757-4f20-af82-0584e6af2bb0","block_type":"box","text":"with respect to assets held through it, it should","page_number":30,"box":{"x":109,"y":810,"width":352,"height":11}},{"id":"b6534031-b0ff-4fce-8a0b-8a9b90c4c30d","block_type":"box","text":"be noted that the Depositary and the Sub-Fund","page_number":30,"box":{"x":110,"y":823,"width":351,"height":11}},{"id":"b974c19c-7966-4a4a-a0c2-759d261e1315","block_type":"box","text":"will have no legal relationship with HKSCC and","page_number":30,"box":{"x":109,"y":837,"width":352,"height":11}},{"id":"5fb57afd-63ed-4ae4-82f1-816fcff1e2e6","block_type":"box","text":"no direct legal recourse against HKSCC in the","page_number":30,"box":{"x":110,"y":850,"width":351,"height":12}},{"id":"d3674662-01e7-4774-b215-1a1eb971f71f","block_type":"box","text":"event that the Sub-Fund suffers losses resulting","page_number":30,"box":{"x":571,"y":46,"width":351,"height":11}},{"id":"d7d35f4b-4f30-4c59-b5a1-7e4e80bd0f2c","block_type":"box","text":"from the performance or insolvency of HKSCC.","page_number":30,"box":{"x":570,"y":59,"width":349,"height":12}},{"id":"ffc690f2-4377-4253-9225-4a1ae003b0ee","block_type":"box","text":"(xv) No Protection by Investor Compensation","page_number":30,"box":{"x":548,"y":85,"width":374,"height":11}},{"id":"07fd86cb-7a9a-4d7a-b725-c2af3b32b61b","block_type":"box","text":"Fund: Investments through the Stock Connect","page_number":30,"box":{"x":572,"y":99,"width":351,"height":11}},{"id":"853a7121-963c-4d5e-8b04-40b58e987667","block_type":"box","text":"are conducted through brokers, and are subject","page_number":30,"box":{"x":571,"y":112,"width":352,"height":12}},{"id":"15cb5882-8d58-4839-8db4-0eec4451ef29","block_type":"box","text":"to the risks of default by such brokers in their","page_number":30,"box":{"x":570,"y":126,"width":353,"height":11}},{"id":"a045d9a6-a128-44a9-9b7d-061847eb12f6","block_type":"box","text":"obligations. The Sub-Funds’ investments under","page_number":30,"box":{"x":571,"y":139,"width":352,"height":12}},{"id":"20f86ef0-066c-47cd-8f88-c8a9895a017a","block_type":"box","text":"the Stock Connect are not covered by the Hong","page_number":30,"box":{"x":570,"y":153,"width":352,"height":11}},{"id":"b2859081-de28-410d-a1a2-531394e25ca5","block_type":"box","text":"Kong’s Investor Compensation Fund, which is","page_number":30,"box":{"x":572,"y":167,"width":351,"height":11}},{"id":"097e6654-9530-40d4-bafd-bddeb444a60f","block_type":"box","text":"established to pay compensation to investors of","page_number":30,"box":{"x":571,"y":181,"width":352,"height":11}},{"id":"66542259-e407-43c5-92d0-8ab27d5fccf3","block_type":"box","text":"any nationality who suffer pecuniary losses as a","page_number":30,"box":{"x":571,"y":194,"width":352,"height":11}},{"id":"ba153940-652f-4fad-8220-640ed1307986","block_type":"box","text":"result of default of a licensed intermediary or","page_number":30,"box":{"x":572,"y":208,"width":351,"height":11}},{"id":"079c1244-7d92-4fd8-ab48-f08597225ee7","block_type":"box","text":"authorised financial institution in relation to","page_number":30,"box":{"x":571,"y":221,"width":352,"height":9}},{"id":"1827dfc7-471a-4b6f-b881-5cefb272a401","block_type":"box","text":"exchange-traded products in Hong Kong.","page_number":30,"box":{"x":571,"y":235,"width":351,"height":11}},{"id":"21a77a16-3d9e-42d6-a960-e3c27afdd69c","block_type":"box","text":"Therefore the Sub-Fund is exposed to the risks","page_number":30,"box":{"x":570,"y":249,"width":353,"height":11}},{"id":"c3605e72-e7f0-4991-8c43-66377759b6dc","block_type":"box","text":"of default of the broker(s) it engages in its","page_number":30,"box":{"x":571,"y":262,"width":352,"height":12}},{"id":"7e8ae036-a8bc-4e3b-b891-377eb86701af","block_type":"box","text":"trading in China A-Shares through the Stock","page_number":30,"box":{"x":570,"y":276,"width":353,"height":11}},{"id":"554e248a-b606-46e3-9c8c-c3c0bbd10a88","block_type":"box","text":"Connect. Further, since the Sub-Fund is","page_number":30,"box":{"x":571,"y":290,"width":352,"height":10}},{"id":"036dcfe0-a89b-4478-866a-f031e031c7b7","block_type":"box","text":"carrying out trading through securities brokers in","page_number":30,"box":{"x":571,"y":304,"width":351,"height":11}},{"id":"89d97874-9eb8-47b5-b2b3-327399685889","block_type":"box","text":"Hong Kong but not PRC brokers, it is not","page_number":30,"box":{"x":572,"y":317,"width":351,"height":11}},{"id":"a038e595-e6ab-4890-81c9-ce1038b41243","block_type":"box","text":"protected by the China Securities Investor","page_number":30,"box":{"x":571,"y":331,"width":352,"height":11}},{"id":"aac24835-d168-4157-b6dc-e0d3208b5560","block_type":"box","text":"Protection Fund in the PRC.","page_number":30,"box":{"x":572,"y":344,"width":206,"height":9}},{"id":"b43d6ed9-d3c2-4d0c-8b03-b03f4f3a3594","block_type":"box","text":"(xvi) Operational risk: The Stock Connect","page_number":30,"box":{"x":548,"y":370,"width":375,"height":11}},{"id":"a5a60708-3ed7-4f00-98da-6a8d38217cd0","block_type":"box","text":"provides a channel for investors from Hong","page_number":30,"box":{"x":571,"y":384,"width":351,"height":11}},{"id":"4a86bbfd-0f6f-4c2a-b5ef-926b5b3b749b","block_type":"box","text":"Kong and overseas to access the PRC Stock","page_number":30,"box":{"x":572,"y":397,"width":351,"height":11}},{"id":"63d7a064-16b4-4f57-9c25-bef5cf27803f","block_type":"box","text":"Exchanges directly. The Stock Connect is","page_number":30,"box":{"x":572,"y":411,"width":351,"height":11}},{"id":"f1638815-6395-4261-9507-284b91408ca6","block_type":"box","text":"premised on the functioning of the operational","page_number":30,"box":{"x":571,"y":425,"width":351,"height":11}},{"id":"bec0e70e-8884-4052-87e8-a37d70b48d77","block_type":"box","text":"systems of the relevant market participants.","page_number":30,"box":{"x":571,"y":438,"width":351,"height":11}},{"id":"0018469b-67b1-487e-bf49-dd3c26b382ed","block_type":"box","text":"Market participants are able to participate in","page_number":30,"box":{"x":571,"y":452,"width":351,"height":11}},{"id":"358ef8e3-b3a3-4e4f-8bdd-110b66eff41f","block_type":"box","text":"these programmes subject to meeting certain","page_number":30,"box":{"x":570,"y":466,"width":352,"height":11}},{"id":"bd45c566-7164-4022-a741-2b47e259825a","block_type":"box","text":"information technology capability, risk","page_number":30,"box":{"x":571,"y":479,"width":352,"height":11}},{"id":"de996c8f-3ba6-4136-8da1-f943b933568c","block_type":"box","text":"management and other requirements as may be","page_number":30,"box":{"x":571,"y":493,"width":352,"height":11}},{"id":"e6262fd2-eb5a-4c74-bff0-40cf623f9c23","block_type":"box","text":"specified by the relevant exchange and/or","page_number":30,"box":{"x":571,"y":506,"width":352,"height":12}},{"id":"8acfd768-26bc-4b55-adec-8716abd4e0b2","block_type":"box","text":"clearing house. The securities regimes and","page_number":30,"box":{"x":571,"y":520,"width":351,"height":11}},{"id":"a6cda48c-fdcc-4c1d-8caa-891c6c9cc9bb","block_type":"box","text":"legal systems of the two markets differ","page_number":30,"box":{"x":571,"y":534,"width":352,"height":11}},{"id":"3b4b68d2-f681-47b0-aaa3-7f0d2500687c","block_type":"box","text":"significantly and market participants may need","page_number":30,"box":{"x":571,"y":547,"width":351,"height":12}},{"id":"39511ed5-98de-4a7b-bc0a-212005e1f973","block_type":"box","text":"to address issues arising from the differences","page_number":30,"box":{"x":570,"y":561,"width":353,"height":11}},{"id":"5902424c-305c-4d5d-9d83-68e704fe4bde","block_type":"box","text":"on an on-going basis. Further, the “connectivity”","page_number":30,"box":{"x":571,"y":575,"width":352,"height":11}},{"id":"1fd490d9-ddc0-4d6e-90cd-4c5485efa683","block_type":"box","text":"in the Stock Connect requires routing of orders","page_number":30,"box":{"x":571,"y":588,"width":352,"height":12}},{"id":"89bed968-27bb-4bc5-999a-be9921497958","block_type":"box","text":"across the border. There is no assurance that","page_number":30,"box":{"x":571,"y":602,"width":352,"height":9}},{"id":"ad18371c-9804-4826-9ce1-6d0ced5b0b50","block_type":"box","text":"the order routing systems will function properly","page_number":30,"box":{"x":570,"y":616,"width":353,"height":11}},{"id":"4702da86-cb4a-42d4-893c-1182ee8db839","block_type":"box","text":"or will continue to be adapted to changes and","page_number":30,"box":{"x":571,"y":629,"width":351,"height":12}},{"id":"62c80661-ab72-49ae-a970-f1c5dfcdbcf1","block_type":"box","text":"developments in both markets. In the event that","page_number":30,"box":{"x":571,"y":643,"width":352,"height":11}},{"id":"2d82a91c-4bc7-4f92-8dcc-d840e127a859","block_type":"box","text":"the relevant systems fail to function properly,","page_number":30,"box":{"x":570,"y":657,"width":352,"height":11}},{"id":"bfb2aad0-9de9-40d3-b166-9b2b63a6c071","block_type":"box","text":"trading in both markets through the programme","page_number":30,"box":{"x":570,"y":671,"width":353,"height":11}},{"id":"6458f92b-eea0-443f-8c7f-12d48620474b","block_type":"box","text":"can be disrupted. The Sub-Fund’s ability to","page_number":30,"box":{"x":571,"y":684,"width":352,"height":11}},{"id":"00fee3ec-09c7-47b8-85b0-e9eb0a18c91d","block_type":"box","text":"access the China A-Shares market (and hence","page_number":30,"box":{"x":571,"y":698,"width":352,"height":11}},{"id":"34a1816c-d15d-4e81-b66b-e66e551df3c3","block_type":"box","text":"to pursue its investment strategy) will be","page_number":30,"box":{"x":570,"y":711,"width":353,"height":12}},{"id":"bccd3086-6413-485e-926b-b855385c1fe9","block_type":"box","text":"adversely affected. The HKSCC provides","page_number":30,"box":{"x":571,"y":725,"width":352,"height":11}},{"id":"d0bf69d4-a76f-4afa-93aa-26290ecc115c","block_type":"box","text":"clearing, settlement, nominee functions and","page_number":30,"box":{"x":571,"y":739,"width":351,"height":11}},{"id":"ad2ba453-8b5d-4311-be11-096104ae1632","block_type":"box","text":"other related services of the trades executed by","page_number":30,"box":{"x":571,"y":752,"width":352,"height":12}},{"id":"50df9a3d-a713-4987-886b-9c8493cfa338","block_type":"box","text":"Hong Kong market participants. PRC","page_number":30,"box":{"x":572,"y":766,"width":351,"height":11}},{"id":"2c782a74-dce9-4910-bf9b-7bc6ee0351c3","block_type":"box","text":"regulations which include certain restrictions on","page_number":30,"box":{"x":572,"y":780,"width":350,"height":11}},{"id":"59e620d5-6c0a-4788-a34b-3189d57495b1","block_type":"box","text":"selling and buying will apply to all market","page_number":30,"box":{"x":571,"y":793,"width":352,"height":11}},{"id":"9026efdc-e2a3-455f-93e5-8eb2774ae816","block_type":"box","text":"participants. In the case of sale, pre-delivery of","page_number":30,"box":{"x":571,"y":807,"width":352,"height":11}},{"id":"fa11bb1f-563b-4734-81ae-5d241c4c6bc3","block_type":"box","text":"shares is required to the broker. Because of","page_number":30,"box":{"x":571,"y":821,"width":352,"height":11}},{"id":"a14e1479-3a2a-4ea7-8ab7-72746cfae486","block_type":"box","text":"such requirements, the Sub-Fund may not be","page_number":30,"box":{"x":571,"y":834,"width":352,"height":11}},{"id":"b54f2ac2-b772-4826-b824-329dbdaa3d1c","block_type":"box","text":"able to purchase and/or dispose of holdings of","page_number":30,"box":{"x":571,"y":848,"width":352,"height":11}},{"id":"91e28cad-e61a-4de6-a430-61add3cf207e","block_type":"box","text":"in a timely manner.","page_number":30,"box":{"x":571,"y":862,"width":140,"height":11}},{"id":"ccff20b5-207b-4bf4-ae52-e3ee7ade2a77","block_type":"box","text":"","page_number":30,"box":{"x":547,"y":893,"width":8,"height":1}},{"id":"442dd2f2-4b66-47fb-b88b-8ab99f6837f3","block_type":"box","text":"Quota limitations risk: The Stock Connect is","page_number":30,"box":{"x":571,"y":888,"width":352,"height":9}},{"id":"c49c9117-9128-4308-91c4-61462e29f65c","block_type":"box","text":"subject to quota limitations. Trading under the","page_number":30,"box":{"x":571,"y":902,"width":352,"height":11}},{"id":"d4af3c76-7546-47f1-91b8-4f97ea462388","block_type":"box","text":"Shanghai-Hong Kong Stock Connect and the","page_number":30,"box":{"x":571,"y":915,"width":352,"height":11}},{"id":"d7a4dbae-3808-4459-861a-106bcd4764c3","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 31","page_number":31,"box":{"x":62,"y":929,"width":321,"height":8}},{"id":"3c151205-0cf6-400c-a67b-223d4d4336a7","block_type":"box","text":"Shenzhen-Hong Kong Stock Connect will be","page_number":31,"box":{"x":110,"y":46,"width":351,"height":11}},{"id":"34cec2d4-1efa-43f6-977e-f691c352078c","block_type":"box","text":"subject to a daily quota respectively (“Daily","page_number":31,"box":{"x":110,"y":59,"width":352,"height":12}},{"id":"ecaef266-0f75-495b-96e7-5c631a90bbd9","block_type":"box","text":"Quota”). The Daily Quota will apply on a “net","page_number":31,"box":{"x":110,"y":73,"width":352,"height":11}},{"id":"5f87d548-f9d2-475b-b0f2-95a33f93de6d","block_type":"box","text":"buy” basis. In particular, once the remaining","page_number":31,"box":{"x":110,"y":87,"width":351,"height":11}},{"id":"2608bfb3-91df-4f33-bb61-194affa70687","block_type":"box","text":"balance of the Daily Quota drops to zero or the","page_number":31,"box":{"x":110,"y":100,"width":351,"height":11}},{"id":"3eaf676b-19e1-4e15-a4a5-fe10bb6c55b1","block_type":"box","text":"Daily Quota is exceeded during the opening call","page_number":31,"box":{"x":110,"y":114,"width":351,"height":11}},{"id":"bf65bf09-52ca-4f7b-93e6-6f5837eca76a","block_type":"box","text":"auction session, new buy orders will be rejected","page_number":31,"box":{"x":110,"y":128,"width":351,"height":11}},{"id":"89aa4574-87ff-49fb-81f8-65c9b0ff9b09","block_type":"box","text":"(though investors will be allowed to sell their","page_number":31,"box":{"x":110,"y":141,"width":352,"height":12}},{"id":"6e707d56-9a63-461b-906b-3167cc018d90","block_type":"box","text":"cross-boundary securities regardless of the","page_number":31,"box":{"x":110,"y":155,"width":351,"height":11}},{"id":"b66fa53d-c9a2-4646-9ca4-27ef592b11c1","block_type":"box","text":"quota balance). Therefore, quota limitations","page_number":31,"box":{"x":110,"y":169,"width":351,"height":11}},{"id":"bc8a4fe6-9ccf-450d-a406-94ac31fa0964","block_type":"box","text":"may restrict the Sub-Fund’s ability to invest in","page_number":31,"box":{"x":110,"y":182,"width":351,"height":11}},{"id":"0569272b-9fd2-43a9-9d6d-dfa63b23ec2b","block_type":"box","text":"China A-Shares through the Stock Connect on","page_number":31,"box":{"x":110,"y":196,"width":351,"height":11}},{"id":"a8e6c1b7-f4f5-44d4-ad27-76c047deb354","block_type":"box","text":"a timely basis, and the Sub-Fund may not be","page_number":31,"box":{"x":110,"y":210,"width":351,"height":11}},{"id":"429abbaa-8e28-4877-b36d-0e9e9f519947","block_type":"box","text":"able to effectively pursue its investment","page_number":31,"box":{"x":110,"y":223,"width":352,"height":11}},{"id":"74b3eea4-c15f-4b41-8a6f-393299b26308","block_type":"box","text":"strategies.","page_number":31,"box":{"x":110,"y":237,"width":75,"height":11}},{"id":"39f18b3a-83b0-40cb-9cc3-6fdd0ffdf4c5","block_type":"box","text":"Regulatory risk: Any changes in laws,","page_number":31,"box":{"x":110,"y":263,"width":351,"height":11}},{"id":"2e2d2ccf-7605-4dda-a8d4-ea0bfca55ea6","block_type":"box","text":"regulations and policies of the China A-Shares","page_number":31,"box":{"x":110,"y":276,"width":351,"height":11}},{"id":"53a00aa6-d406-4311-b7ec-59462797e6a3","block_type":"box","text":"market or rules in relation to Stock Connect may","page_number":31,"box":{"x":110,"y":290,"width":352,"height":11}},{"id":"a5528300-9047-4264-8cc0-9aed07807fb4","block_type":"box","text":"affect trading capabilities and/or share prices.","page_number":31,"box":{"x":110,"y":303,"width":350,"height":12}},{"id":"f5ed45d6-ae26-4e64-8c41-b84752cae47f","block_type":"box","text":"Additionally, the Stock Connect is a novel","page_number":31,"box":{"x":109,"y":317,"width":352,"height":11}},{"id":"f20fe86c-ac0b-4c4f-b762-1c1eee37eb3d","block_type":"box","text":"concept and is subject to regulations","page_number":31,"box":{"x":110,"y":331,"width":351,"height":11}},{"id":"edcc656a-778d-47c0-9d96-391fcf5d9be0","block_type":"box","text":"promulgated by regulatory authorities and","page_number":31,"box":{"x":110,"y":345,"width":351,"height":11}},{"id":"817afe3a-cfb3-4441-bdb6-db68fcabb9ba","block_type":"box","text":"implementation rules made by the stock","page_number":31,"box":{"x":110,"y":358,"width":352,"height":11}},{"id":"ec355ed2-ef74-45d1-a078-0c907c8737ba","block_type":"box","text":"exchanges in the PRC and Hong Kong. Further,","page_number":31,"box":{"x":110,"y":372,"width":350,"height":11}},{"id":"f91222ce-7772-42f8-99f7-a6dd8d77936d","block_type":"box","text":"new regulations may be promulgated from time","page_number":31,"box":{"x":110,"y":385,"width":351,"height":12}},{"id":"337184e0-a4c1-4937-be85-1c320eb4229e","block_type":"box","text":"to time by the regulators in connection with","page_number":31,"box":{"x":109,"y":399,"width":352,"height":11}},{"id":"8f5e5e32-badc-4779-836b-136c303ead9d","block_type":"box","text":"operations and cross-border legal enforcement","page_number":31,"box":{"x":110,"y":413,"width":352,"height":11}},{"id":"484db758-f51b-4081-8399-2435f664f822","block_type":"box","text":"in connection with cross-border trades under the","page_number":31,"box":{"x":110,"y":427,"width":351,"height":8}},{"id":"2c2e94dd-e73a-455e-9171-b953f46d3a3b","block_type":"box","text":"Stock Connect. Also, the current regulations are","page_number":31,"box":{"x":110,"y":440,"width":351,"height":11}},{"id":"d9788ad7-2175-4447-a2d6-56968e401249","block_type":"box","text":"subject to change. There can be no assurance","page_number":31,"box":{"x":110,"y":454,"width":351,"height":11}},{"id":"5f0a8852-a88f-4cf9-9ed7-57c15f543c47","block_type":"box","text":"that the Stock Connect will not be abolished.","page_number":31,"box":{"x":109,"y":467,"width":352,"height":9}},{"id":"6c069956-b7ae-46dd-a02d-db22a7f73adb","block_type":"box","text":"Any Sub-Fund which may invest via the Stock","page_number":31,"box":{"x":109,"y":481,"width":353,"height":11}},{"id":"7c8457e8-978d-44c5-b488-487d075ea9ce","block_type":"box","text":"Connect may be adversely affected as a result","page_number":31,"box":{"x":110,"y":495,"width":352,"height":11}},{"id":"ad3ac3bb-7938-4144-81b5-ea965e4a772f","block_type":"box","text":"of such changes. Generally, investors should","page_number":31,"box":{"x":110,"y":508,"width":351,"height":11}},{"id":"813883e6-9e7d-43eb-b464-094c3289fe02","block_type":"box","text":"note that the rights of investors in China are","page_number":31,"box":{"x":110,"y":522,"width":351,"height":11}},{"id":"c8e67bbe-20c5-4192-a3e5-ef0e0bf1bf43","block_type":"box","text":"uncertain, government intervention is common","page_number":31,"box":{"x":110,"y":536,"width":351,"height":11}},{"id":"8b265f74-0135-46d7-b7d5-9500c453f0c1","block_type":"box","text":"and unpredictable, and many of the market","page_number":31,"box":{"x":110,"y":549,"width":352,"height":11}},{"id":"e827110d-d1c9-4615-9b46-7ce404a3b14c","block_type":"box","text":"systems are unproven. Chinese authorities may","page_number":31,"box":{"x":110,"y":563,"width":352,"height":11}},{"id":"001a245f-dde9-4fcc-a88f-a86ec413edc8","block_type":"box","text":"impose measures that result in additional costs","page_number":31,"box":{"x":110,"y":577,"width":351,"height":11}},{"id":"649a202b-da93-4269-91a0-9e1f96c17ecb","block_type":"box","text":"and/or have the effect of blocking, limiting or","page_number":31,"box":{"x":110,"y":590,"width":352,"height":11}},{"id":"2fd3d1cd-0369-4399-b19b-490833e763c8","block_type":"box","text":"otherwise restricting trading, potentially","page_number":31,"box":{"x":110,"y":604,"width":352,"height":11}},{"id":"40afdd29-b09c-4d99-b52c-7637eca46a1c","block_type":"box","text":"hindering the Sub-Fund in implementing it’s","page_number":31,"box":{"x":110,"y":617,"width":351,"height":12}},{"id":"8167975b-c310-4a2a-8b06-74eab8eb8c59","block_type":"box","text":"intended investment strategy.","page_number":31,"box":{"x":110,"y":631,"width":217,"height":11}},{"id":"1cb01ac1-b8ea-4a24-ad26-a9245c706c30","block_type":"box","text":"(xvii)","page_number":31,"box":{"x":93,"y":657,"width":33,"height":11}},{"id":"f5a3133f-8be5-4ca1-87a6-114b98d853e7","block_type":"box","text":"Benchmark Indices","page_number":31,"box":{"x":140,"y":657,"width":152,"height":9}},{"id":"c795254c-583e-4dbf-a305-906bdb6a06aa","block_type":"box","text":"The constituents of a Sub-Fund’s benchmark Index","page_number":31,"box":{"x":62,"y":676,"width":400,"height":9}},{"id":"3b75d98d-0a8b-4068-bdca-b1cb99768b5d","block_type":"box","text":"may change over time. Potential investors in a Sub","page_number":31,"box":{"x":62,"y":690,"width":399,"height":11}},{"id":"4a12c0ea-2417-48d0-b96b-445a33c53a1c","block_type":"box","text":"Fund may obtain a breakdown of the constituents of","page_number":31,"box":{"x":63,"y":704,"width":399,"height":11}},{"id":"bb9c7f62-0b0d-4a94-aa6d-4ae1dc53b572","block_type":"box","text":"the relevant benchmark Index from the website of the","page_number":31,"box":{"x":62,"y":717,"width":399,"height":9}},{"id":"2deb6673-7292-44e7-89c0-9ec658117d88","block_type":"box","text":"index provider (as referred to in the relevant","page_number":31,"box":{"x":62,"y":731,"width":400,"height":11}},{"id":"5e94e627-497f-489a-983b-c9f514749dfd","block_type":"box","text":"benchmark Index description outlined in Appendix 1).","page_number":31,"box":{"x":62,"y":745,"width":398,"height":11}},{"id":"abe83033-6d6d-4652-8068-93df4825ec1f","block_type":"box","text":"There is no assurance that a Sub-Fund’s benchmark","page_number":31,"box":{"x":62,"y":758,"width":400,"height":9}},{"id":"0e259b50-b5b0-4f23-967f-c140d116fd9b","block_type":"box","text":"Index will continue to be calculated and published on","page_number":31,"box":{"x":63,"y":772,"width":398,"height":11}},{"id":"e1e6896f-19bd-49e8-811c-8ca8c05c3481","block_type":"box","text":"the basis described in this Prospectus or that it will not","page_number":31,"box":{"x":62,"y":786,"width":400,"height":11}},{"id":"a1be930c-87b0-4dd3-bd0f-d503c45355a4","block_type":"box","text":"be amended significantly. The past performance of","page_number":31,"box":{"x":62,"y":799,"width":400,"height":11}},{"id":"38827fdd-48e3-464c-8dc2-8506004900a0","block_type":"box","text":"each benchmark Index is not a guide to future","page_number":31,"box":{"x":62,"y":813,"width":399,"height":11}},{"id":"49660f0a-1c79-4fc0-922d-14d52fd64585","block_type":"box","text":"performance.","page_number":31,"box":{"x":62,"y":827,"width":97,"height":11}},{"id":"eb5ddfca-223b-48b7-af58-9642cac1aa01","block_type":"box","text":"The ACS Manager may, if it considers it in the interests","page_number":31,"box":{"x":62,"y":854,"width":399,"height":11}},{"id":"9b2aaa02-5391-4179-8868-328f001baa51","block_type":"box","text":"of any Sub-Fund to do so, and with the consent of the","page_number":31,"box":{"x":62,"y":867,"width":399,"height":12}},{"id":"3bd8e986-dd8e-48e8-995d-b43620ccd804","block_type":"box","text":"Depositary and FCA as necessary in accordance with","page_number":31,"box":{"x":63,"y":881,"width":398,"height":11}},{"id":"3dc255b7-04f9-47f2-8261-af8b2cedef88","block_type":"box","text":"COLL, and in line with Unitholder approval and notice","page_number":31,"box":{"x":62,"y":895,"width":399,"height":11}},{"id":"26099ae1-73d4-4cbd-8074-b75c8d3e7575","block_type":"box","text":"requirements as set out in COLL 4.3, substitute","page_number":31,"box":{"x":63,"y":908,"width":398,"height":12}},{"id":"b879af70-0c19-48bb-ad9e-83029b4e59ff","block_type":"box","text":"another index for the benchmark Index in","page_number":31,"box":{"x":523,"y":46,"width":399,"height":9}},{"id":"d68e0825-8404-4f26-ba54-10a7f7f852be","block_type":"box","text":"circumstances such as the following:","page_number":31,"box":{"x":523,"y":59,"width":271,"height":12}},{"id":"e973fd36-d636-46bb-a026-318a5301ced9","block_type":"box","text":"• the weightings of constituent securities of the Index","page_number":31,"box":{"x":523,"y":73,"width":400,"height":11}},{"id":"22d4319e-22d4-47da-a34c-5a3fc32bfe93","block_type":"box","text":"would cause the relevant Sub-Fund (if it were to follow","page_number":31,"box":{"x":523,"y":87,"width":400,"height":11}},{"id":"eef4347b-1fa4-415d-93c1-de4a06a5b61f","block_type":"box","text":"the Index closely) to be in breach of the COLL","page_number":31,"box":{"x":523,"y":100,"width":400,"height":11}},{"id":"f9c82e07-2022-4cab-880d-5dbeda41ff20","block_type":"box","text":"Sourcebook and/or any tax law or tax regulations that","page_number":31,"box":{"x":523,"y":114,"width":400,"height":11}},{"id":"4214e367-9481-4c4f-83fa-546bbdfa3d07","block_type":"box","text":"the ACS Manager may consider to have a material","page_number":31,"box":{"x":523,"y":128,"width":399,"height":11}},{"id":"f2b1c6c0-ae72-4ef3-b6d7-c0ceb9bdddcd","block_type":"box","text":"impact on any Sub-Fund;","page_number":31,"box":{"x":524,"y":141,"width":185,"height":12}},{"id":"7661c564-519e-40f1-ae0f-2f80d1a709ee","block_type":"box","text":"• the particular benchmark Index or index series","page_number":31,"box":{"x":523,"y":155,"width":400,"height":11}},{"id":"70778f59-1787-4227-ab14-fdbc24e7497d","block_type":"box","text":"ceases to exist;","page_number":31,"box":{"x":523,"y":169,"width":114,"height":10}},{"id":"acf514f5-d888-4853-b45b-c9947b352a3a","block_type":"box","text":"• a new index becomes available which supersedes","page_number":31,"box":{"x":523,"y":182,"width":400,"height":11}},{"id":"4065013c-21bc-475e-8dc1-349abd88be06","block_type":"box","text":"the existing benchmark Index;","page_number":31,"box":{"x":523,"y":196,"width":221,"height":11}},{"id":"8af88b61-a209-4dd8-98a5-a314f2d26ba1","block_type":"box","text":"• a new index becomes available which is regarded as","page_number":31,"box":{"x":523,"y":210,"width":400,"height":11}},{"id":"e94eb68e-e22a-4ac0-b389-f39828711bab","block_type":"box","text":"the market standard for investors in the particular","page_number":31,"box":{"x":523,"y":223,"width":400,"height":11}},{"id":"90bee8ff-15f4-4676-a42b-b18a28cf4a88","block_type":"box","text":"market and/or would be regarded as of greater benefit","page_number":31,"box":{"x":524,"y":237,"width":399,"height":11}},{"id":"1fcea301-ada6-4d01-a314-c138f149a4fd","block_type":"box","text":"to the Unitholders than the existing benchmark Index;","page_number":31,"box":{"x":523,"y":251,"width":395,"height":11}},{"id":"6735f585-7da6-4b64-804b-b5240d9cfbd7","block_type":"box","text":"• it becomes difficult to invest in stocks comprised","page_number":31,"box":{"x":523,"y":264,"width":399,"height":11}},{"id":"99fd5022-7658-4114-b817-1190fdfa568f","block_type":"box","text":"within the particular benchmark Index;","page_number":31,"box":{"x":523,"y":278,"width":281,"height":11}},{"id":"5ac550b3-065e-4a39-97ad-3a5776216095","block_type":"box","text":"• the benchmark Index provider increases its charges","page_number":31,"box":{"x":523,"y":292,"width":400,"height":11}},{"id":"7f1c2c40-9f16-40e3-88e3-71eb02d0f7a7","block_type":"box","text":"to a level which the ACS Manager considers too high;","page_number":31,"box":{"x":523,"y":305,"width":397,"height":11}},{"id":"c3b68a1d-6694-4126-9aab-c7a67084748a","block_type":"box","text":"• the quality (including accuracy and availability of","page_number":31,"box":{"x":523,"y":319,"width":400,"height":11}},{"id":"7fe036bf-3e8b-4536-a633-f23a07d424e0","block_type":"box","text":"data) of a particular benchmark Index has, in the","page_number":31,"box":{"x":523,"y":332,"width":400,"height":12}},{"id":"36f69065-03b5-4805-b77b-b8dc1de7e9c4","block_type":"box","text":"opinion of the ACS Manager, deteriorated;","page_number":31,"box":{"x":523,"y":346,"width":313,"height":11}},{"id":"90c8d595-dd00-4c82-ae37-c1c9755d8367","block_type":"box","text":"• a liquid futures market in which a particular Sub-Fund","page_number":31,"box":{"x":523,"y":360,"width":399,"height":11}},{"id":"dc1b9b79-cc6b-402b-a6e5-cd8f475e2a31","block_type":"box","text":"is investing ceases to be available; or","page_number":31,"box":{"x":524,"y":374,"width":277,"height":11}},{"id":"fe127069-9ff2-41c7-9780-79c2e7fb74fb","block_type":"box","text":"• where an index becomes available which more","page_number":31,"box":{"x":523,"y":387,"width":400,"height":9}},{"id":"496b1470-831c-407e-b272-f4d4b39b905d","block_type":"box","text":"accurately represents the likely tax treatment of the","page_number":31,"box":{"x":523,"y":401,"width":400,"height":11}},{"id":"f9eb32be-5985-44e5-b3e3-1ba175fd39c2","block_type":"box","text":"investing Sub-Fund in relation to the component","page_number":31,"box":{"x":524,"y":414,"width":399,"height":12}},{"id":"0f51895d-d265-4289-81d6-de9e3061a09a","block_type":"box","text":"securities in that index.","page_number":31,"box":{"x":523,"y":428,"width":169,"height":9}},{"id":"84656057-bd92-4fa5-8b13-753afd9b55f9","block_type":"box","text":"(xviii)","page_number":31,"box":{"x":554,"y":454,"width":37,"height":11}},{"id":"040ae87a-7d4d-454d-99a0-e787edd21dff","block_type":"box","text":"Index-Related Risk","page_number":31,"box":{"x":602,"y":454,"width":149,"height":8}},{"id":"630a160a-1624-4057-8b45-b6300971cac1","block_type":"box","text":"In order to meet its investment objective, each Core","page_number":31,"box":{"x":524,"y":473,"width":399,"height":11}},{"id":"89e27378-83e4-49f9-ad08-807254717a0b","block_type":"box","text":"Fund will aim to deliver returns which are similar to the","page_number":31,"box":{"x":524,"y":487,"width":399,"height":9}},{"id":"dc5633e8-b619-4588-8047-e43c86f8191f","block_type":"box","text":"returns of its benchmark Index as published by the","page_number":31,"box":{"x":524,"y":501,"width":399,"height":11}},{"id":"4be620e1-748e-4095-bd3e-2b59aa34771a","block_type":"box","text":"relevant index provider. While index providers do","page_number":31,"box":{"x":524,"y":514,"width":399,"height":11}},{"id":"19cd9f14-7969-4b00-8882-8e279ebfa576","block_type":"box","text":"provide descriptions of what each benchmark Index is","page_number":31,"box":{"x":524,"y":528,"width":399,"height":11}},{"id":"e56dd922-e465-4bb9-ac22-005a011993fd","block_type":"box","text":"designed to achieve, index providers do not generally","page_number":31,"box":{"x":523,"y":542,"width":400,"height":11}},{"id":"c2a4f0be-8c42-4e25-b7c8-a033fd8c09fa","block_type":"box","text":"provide any warranty or accept any liability in relation","page_number":31,"box":{"x":524,"y":555,"width":398,"height":11}},{"id":"a8ad3b53-a6f6-4989-b5a4-b4c1f68eeb08","block_type":"box","text":"to the quality, accuracy or completeness of data in","page_number":31,"box":{"x":523,"y":569,"width":399,"height":11}},{"id":"cf00f206-b233-467c-ab70-bff13f4310d4","block_type":"box","text":"respect of their benchmark indices, nor any guarantee","page_number":31,"box":{"x":524,"y":582,"width":399,"height":12}},{"id":"42a43e01-d86d-4471-956c-94b4faa5febc","block_type":"box","text":"that the published indices will be in line with their","page_number":31,"box":{"x":523,"y":596,"width":400,"height":11}},{"id":"f4333169-8229-4b98-9b1a-8e05b51ac847","block_type":"box","text":"described benchmark index methodologies. Errors in","page_number":31,"box":{"x":523,"y":610,"width":399,"height":11}},{"id":"c8aaa3d3-57be-4bb0-bc25-1815b0ed48c6","block_type":"box","text":"respect of the quality, accuracy and completeness of","page_number":31,"box":{"x":524,"y":624,"width":399,"height":11}},{"id":"991b6f4e-e887-4b2c-829c-1fb5b04fb67d","block_type":"box","text":"the data may occur from time to time and may not be","page_number":31,"box":{"x":523,"y":637,"width":400,"height":11}},{"id":"201e374a-2360-4c5c-b163-e4f55f5d3795","block_type":"box","text":"identified and corrected for a period of time, in","page_number":31,"box":{"x":524,"y":651,"width":398,"height":11}},{"id":"9db96f9f-fd6d-4a0f-801a-d6aaf1f911a2","block_type":"box","text":"particular where the indices are less commonly used.","page_number":31,"box":{"x":524,"y":665,"width":398,"height":11}},{"id":"717a6ea7-70b0-4be0-851b-a1bf466b20e8","block_type":"box","text":"Any such errors may potentially result in a negative or","page_number":31,"box":{"x":523,"y":678,"width":400,"height":11}},{"id":"eafc09e5-6194-4012-b420-b640a46fc54a","block_type":"box","text":"positive performance impact to a Sub-Fund and, by","page_number":31,"box":{"x":524,"y":692,"width":399,"height":11}},{"id":"08bfaebd-5a44-40b6-a923-9f2796d0b1d7","block_type":"box","text":"extension, impact its Unitholders. Apart from","page_number":31,"box":{"x":523,"y":705,"width":399,"height":12}},{"id":"c75f0cf5-8da8-4a30-b842-b633b654b47e","block_type":"box","text":"scheduled rebalances, index providers may carry out","page_number":31,"box":{"x":523,"y":719,"width":400,"height":11}},{"id":"6be80111-8474-4242-912c-19c0ca8d2958","block_type":"box","text":"additional ad hoc rebalances to their benchmark","page_number":31,"box":{"x":523,"y":733,"width":400,"height":8}},{"id":"e5b8285b-885a-45b1-9a23-3a29f01a7550","block_type":"box","text":"indices in order, for example, to correct an error in the","page_number":31,"box":{"x":524,"y":746,"width":399,"height":11}},{"id":"98d99f98-9781-4a4b-bc86-e950ea4f9789","block_type":"box","text":"selection of index constituents. Where the benchmark","page_number":31,"box":{"x":523,"y":760,"width":400,"height":9}},{"id":"8cdfed5b-45a2-4c0a-9b9e-9806f768f4ad","block_type":"box","text":"Index of a Sub-Fund is rebalanced and that Sub-Fund","page_number":31,"box":{"x":524,"y":774,"width":398,"height":9}},{"id":"48131df9-6208-4f68-9729-8898672b8e06","block_type":"box","text":"in turn rebalances its portfolio to bring it in line with its","page_number":31,"box":{"x":524,"y":787,"width":399,"height":12}},{"id":"c55c60c3-a9e7-4043-a88f-a3ba36d23dc9","block_type":"box","text":"benchmark Index, any transaction costs (including any","page_number":31,"box":{"x":524,"y":801,"width":399,"height":11}},{"id":"2618c4ad-0e8c-4a9d-bcaf-88f1a2c086ff","block_type":"box","text":"capital gains tax and/or transaction taxes) and market","page_number":31,"box":{"x":523,"y":815,"width":400,"height":11}},{"id":"7e7a5cf8-4485-4d5b-9bbb-02848e43182d","block_type":"box","text":"exposure arising from such portfolio rebalancing will","page_number":31,"box":{"x":523,"y":828,"width":399,"height":12}},{"id":"973a3553-0439-450f-bb03-41f315f481ce","block_type":"box","text":"be borne by that Sub-Fund and, by extension, its","page_number":31,"box":{"x":524,"y":842,"width":399,"height":11}},{"id":"985a61ee-238e-48e7-b7a7-a74d29a0c165","block_type":"box","text":"Unitholders. Unscheduled rebalances to the","page_number":31,"box":{"x":524,"y":856,"width":399,"height":9}},{"id":"74216f2f-15cf-42d2-9795-83ae1a67f621","block_type":"box","text":"benchmark Index may also expose a Fund to tracking","page_number":31,"box":{"x":524,"y":869,"width":398,"height":12}},{"id":"905568c4-03cc-459a-a2f4-00c5468b0677","block_type":"box","text":"error risk (see below). Therefore, errors and additional","page_number":31,"box":{"x":523,"y":883,"width":399,"height":11}},{"id":"25e229d7-8369-42c4-bfad-edf9a9b27698","block_type":"box","text":"ad hoc rebalances carried out by an index provider to","page_number":31,"box":{"x":523,"y":897,"width":400,"height":11}},{"id":"dd716cf0-7182-421a-acbf-28b32f0a6ce7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 32","page_number":32,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"a40353d2-584c-403f-9d4d-04130914dc83","block_type":"box","text":"a Sub-Fund’s benchmark Index may increase the","page_number":32,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"c3139e31-70b3-4197-b7b2-9d4bdd2f58be","block_type":"box","text":"costs and market exposure risk of that Sub-Fund.","page_number":32,"box":{"x":62,"y":59,"width":365,"height":11}},{"id":"5353b6d9-ffdc-4362-9708-d8c15026c93b","block_type":"box","text":"(xix)","page_number":32,"box":{"x":93,"y":85,"width":29,"height":11}},{"id":"2ce58e70-567e-4807-a4c9-bc4bc96ac85e","block_type":"box","text":"Tracking Error","page_number":32,"box":{"x":144,"y":85,"width":115,"height":11}},{"id":"ab7a0d09-a76a-4f24-b61b-4c551c2428d3","block_type":"box","text":"In order to meet its investment objective, each Core","page_number":32,"box":{"x":63,"y":104,"width":398,"height":12}},{"id":"d3290bb9-91c0-44c4-acf0-67201c3c62f2","block_type":"box","text":"Fund will aim to deliver returns which are similar to the","page_number":32,"box":{"x":63,"y":118,"width":398,"height":9}},{"id":"e701733d-a777-449f-9ecd-e768646f090d","block_type":"box","text":"returns of its benchmark Index, whilst seeking to","page_number":32,"box":{"x":63,"y":132,"width":398,"height":11}},{"id":"0acf5211-9e41-4504-8950-a5c99c2863ea","block_type":"box","text":"minimise tracking error to that benchmark Index.","page_number":32,"box":{"x":62,"y":146,"width":399,"height":11}},{"id":"72424be4-2ef8-41ac-9410-47c5ab71c4f0","block_type":"box","text":"However, the Core Funds do not have an index","page_number":32,"box":{"x":63,"y":159,"width":398,"height":11}},{"id":"cffd20d6-c2ca-4608-aef2-14fce5804cbf","block_type":"box","text":"replicating strategy and there is no guarantee that the","page_number":32,"box":{"x":63,"y":173,"width":398,"height":11}},{"id":"4f191a35-cc83-4200-9107-c2db25a0b4dd","block_type":"box","text":"Sub-Funds will stay within their expected average","page_number":32,"box":{"x":62,"y":186,"width":399,"height":12}},{"id":"2e5fede8-4ccd-41b0-a4ce-e1c372e59c48","block_type":"box","text":"yearly tracking error range (as specified in each Core","page_number":32,"box":{"x":62,"y":200,"width":399,"height":11}},{"id":"fc8be609-d9b5-43ca-8233-bf25c58db65e","block_type":"box","text":"Fund’s investment policy).","page_number":32,"box":{"x":63,"y":214,"width":191,"height":11}},{"id":"6dee2658-5229-402a-b352-bc79a4b1bec8","block_type":"box","text":"The Core Funds may be subject to tracking error risk,","page_number":32,"box":{"x":62,"y":239,"width":399,"height":12}},{"id":"f04b0d30-6b15-46e6-886b-86d746258f68","block_type":"box","text":"which is the risk that the relevant Sub-Fund’s returns","page_number":32,"box":{"x":62,"y":253,"width":399,"height":9}},{"id":"c45b1e2b-acb2-458b-9b1c-a3a2f05f9cb9","block_type":"box","text":"will not be similar to that of the benchmark Index from","page_number":32,"box":{"x":62,"y":267,"width":399,"height":8}},{"id":"d5ebf33c-b209-455d-a2b9-528bf260f8ac","block_type":"box","text":"time to time. The impact of tracking error risk may be","page_number":32,"box":{"x":62,"y":280,"width":399,"height":12}},{"id":"2f328ebe-55a9-424f-82e1-55687f67695d","block_type":"box","text":"either positive or negative depending on the underlying","page_number":32,"box":{"x":62,"y":294,"width":399,"height":11}},{"id":"5645e39d-68d0-4460-8cb6-88ecf6082413","block_type":"box","text":"circumstances. Tracking error risk may occur for a","page_number":32,"box":{"x":62,"y":308,"width":400,"height":11}},{"id":"18721d5e-32ff-4575-b7d2-b14b0d436288","block_type":"box","text":"number of reasons:","page_number":32,"box":{"x":62,"y":321,"width":142,"height":9}},{"id":"658813cd-71bc-4587-90af-621b44b43042","block_type":"box","text":"• Due to the application of the Aviva Investors’ baseline","page_number":32,"box":{"x":62,"y":347,"width":399,"height":11}},{"id":"8f2c6485-af60-4de7-8904-8e5248fe0695","block_type":"box","text":"exclusion policy and/or the ESG Overlay, as more fully","page_number":32,"box":{"x":62,"y":360,"width":400,"height":12}},{"id":"92832b9e-c57e-47d9-89bd-0a0b5736c0bb","block_type":"box","text":"described in each Core Fund’s investment policy.","page_number":32,"box":{"x":62,"y":374,"width":364,"height":11}},{"id":"82103782-1236-4ff0-ba70-a73ffdd38104","block_type":"box","text":"• An inability to hold constituents of the benchmark","page_number":32,"box":{"x":62,"y":400,"width":400,"height":11}},{"id":"602f6767-1393-4b55-bfb9-40adbdbf25f7","block_type":"box","text":"Index, for example where there are local market","page_number":32,"box":{"x":63,"y":413,"width":399,"height":11}},{"id":"0f1773b2-87f7-4768-93da-6c971cb07160","block_type":"box","text":"trading restrictions, small illiquid components and/or","page_number":32,"box":{"x":62,"y":427,"width":400,"height":11}},{"id":"40e9e137-663c-44de-b686-a92b15ef33f6","block_type":"box","text":"where the COLL Sourcebook and/or any other","page_number":32,"box":{"x":62,"y":441,"width":400,"height":11}},{"id":"5b78c999-8b7b-484c-b01d-24696ce80d8b","block_type":"box","text":"applicable regulations and/or policies of the ACS","page_number":32,"box":{"x":62,"y":454,"width":399,"height":11}},{"id":"f22162ef-9d67-46e1-9134-0bbbd897e350","block_type":"box","text":"Manager limit exposure to the constituents of the","page_number":32,"box":{"x":63,"y":468,"width":398,"height":11}},{"id":"118bdbe7-8784-483f-99ad-caee92e636ae","block_type":"box","text":"benchmark Index.","page_number":32,"box":{"x":62,"y":482,"width":131,"height":8}},{"id":"2a4141e8-a05e-4bab-8a54-55de6599b901","block_type":"box","text":"• Cash management and trading costs from","page_number":32,"box":{"x":62,"y":507,"width":399,"height":11}},{"id":"079ff4ed-834c-45a7-bb4a-544d5cb1d8d3","block_type":"box","text":"rebalancing the Core Fund to the benchmark Index.","page_number":32,"box":{"x":63,"y":521,"width":381,"height":11}},{"id":"41e50572-0578-449b-b9f8-30c331eb1fce","block_type":"box","text":"• Where the Core Fund and its benchmark Index are","page_number":32,"box":{"x":62,"y":546,"width":400,"height":9}},{"id":"5ee918b6-2290-4a32-a3fc-ebf8308ab961","block_type":"box","text":"priced at different valuation points. In such","page_number":32,"box":{"x":62,"y":560,"width":399,"height":11}},{"id":"dbb2b062-e9ac-47d4-8bf7-7abbb4479ec0","block_type":"box","text":"circumstances the performance of the Sub-Fund at its","page_number":32,"box":{"x":62,"y":574,"width":399,"height":11}},{"id":"681a8a7b-e242-43fb-a6b2-15ec330c78b7","block_type":"box","text":"valuation point, relative to the performance of","page_number":32,"box":{"x":62,"y":587,"width":400,"height":11}},{"id":"cd834f21-d82d-4d4d-9a56-dfe5856ac133","block_type":"box","text":"benchmark Index, will be different compared to the","page_number":32,"box":{"x":62,"y":601,"width":399,"height":11}},{"id":"3506af33-b8c1-4ac3-9362-a74986f7e7bb","block_type":"box","text":"performance that would have been attained had the","page_number":32,"box":{"x":62,"y":615,"width":399,"height":11}},{"id":"6f9b72cd-55f2-4f65-bc17-e6a937f04061","block_type":"box","text":"Sub-Fund and the benchmark Index been priced at the","page_number":32,"box":{"x":62,"y":628,"width":399,"height":11}},{"id":"e4771b25-cd18-4491-ad4a-2f5926fa70bb","block_type":"box","text":"same time.","page_number":32,"box":{"x":62,"y":642,"width":80,"height":9}},{"id":"46a300a0-6211-4037-a3e1-d0ee1f2217bd","block_type":"box","text":"• Where the pricing point between the Core Fund and","page_number":32,"box":{"x":62,"y":667,"width":399,"height":12}},{"id":"faac6159-a0fb-468f-8790-085d3a0d1072","block_type":"box","text":"its benchmark Index is the same, the underlying","page_number":32,"box":{"x":62,"y":681,"width":399,"height":11}},{"id":"87a43c46-8a48-4370-a0cd-199691385760","block_type":"box","text":"markets on which securities are traded do not always","page_number":32,"box":{"x":62,"y":695,"width":399,"height":11}},{"id":"df6be8e0-0857-4f88-9d39-05a2e23df4d1","block_type":"box","text":"close at the same time as this pricing point and so","page_number":32,"box":{"x":62,"y":709,"width":399,"height":11}},{"id":"62ce7388-eb46-420b-baf3-f02880c6a537","block_type":"box","text":"there is a period of time between certain markets’ close","page_number":32,"box":{"x":62,"y":722,"width":399,"height":11}},{"id":"7fa3425d-1af7-46c1-9f9b-9a7883988ed3","block_type":"box","text":"and the Sub-Fund’s valuation point during which prices","page_number":32,"box":{"x":62,"y":736,"width":399,"height":11}},{"id":"9182c4c8-7049-48de-ad30-4263f4553f07","block_type":"box","text":"can move considerably, consequently there may be","page_number":32,"box":{"x":62,"y":749,"width":399,"height":12}},{"id":"892d9c4c-09dc-4aaa-9799-73f0f05a40e2","block_type":"box","text":"times when the ACS Manager will apply a fair value","page_number":32,"box":{"x":62,"y":763,"width":399,"height":11}},{"id":"5885492d-54fa-475c-9029-4071d7f310bf","block_type":"box","text":"accounting policy, as described above. Such fair value","page_number":32,"box":{"x":62,"y":777,"width":399,"height":11}},{"id":"05a92588-d228-47f3-8529-7a65495785d4","block_type":"box","text":"pricing may affect the performance differential as the","page_number":32,"box":{"x":62,"y":790,"width":399,"height":12}},{"id":"867c0afd-87c2-4d0a-8508-06a888bf58af","block_type":"box","text":"relevant benchmark Indices may not implement a fair","page_number":32,"box":{"x":63,"y":804,"width":399,"height":11}},{"id":"15a4bdec-a957-42f1-9216-ebc9bbd5696d","block_type":"box","text":"value accounting policy.","page_number":32,"box":{"x":62,"y":818,"width":176,"height":11}},{"id":"e7933b25-f604-409c-9b53-5554512a2d3a","block_type":"box","text":"• Certain aspects of the way that that the Sub-Fund","page_number":32,"box":{"x":62,"y":843,"width":399,"height":11}},{"id":"91c67fa3-d25c-499f-9977-ac07cb49f475","block_type":"box","text":"operates including differences in the pricing sources","page_number":32,"box":{"x":62,"y":857,"width":399,"height":11}},{"id":"ed2fc7ba-5bbf-4bd1-bfbe-5897fa99a8d1","block_type":"box","text":"used by the Sub-Fund and the benchmark Index, the","page_number":32,"box":{"x":63,"y":870,"width":398,"height":12}},{"id":"83903e78-2481-49e4-8411-8c3c91d43b38","block_type":"box","text":"timing of cash flows in or out of the Sub-Fund and the","page_number":32,"box":{"x":62,"y":884,"width":399,"height":11}},{"id":"04b68f1f-0a64-4bca-bd0b-9109f3c744e8","block_type":"box","text":"operation of a swinging price method.","page_number":32,"box":{"x":62,"y":898,"width":277,"height":11}},{"id":"62d32d8a-dc8f-4b2f-9077-a8fbc52d34dd","block_type":"box","text":"Other factors may also include but are not limited to:","page_number":32,"box":{"x":523,"y":46,"width":399,"height":11}},{"id":"caf11833-cdd7-4502-b892-9d648f3d3af7","block_type":"box","text":"withholding tax if any suffered by an Core Fund on any","page_number":32,"box":{"x":523,"y":59,"width":400,"height":12}},{"id":"958440b8-fcd4-49e2-8076-70901d6f5b3d","block_type":"box","text":"income received from its investments (the level and","page_number":32,"box":{"x":524,"y":73,"width":398,"height":11}},{"id":"bd4d8aff-e563-43bf-8b29-c37aa8aa68ab","block_type":"box","text":"quantum of the performance differential arising due to","page_number":32,"box":{"x":523,"y":87,"width":400,"height":11}},{"id":"582b3814-5f7e-4e7e-bce4-3c1c664de96f","block_type":"box","text":"withholding taxes depends on various factors such as","page_number":32,"box":{"x":523,"y":100,"width":400,"height":12}},{"id":"90d98099-c3dd-4c49-81f9-0ec53dc501b5","block_type":"box","text":"any reclaims filed by the Depositary with various tax","page_number":32,"box":{"x":523,"y":114,"width":400,"height":11}},{"id":"d3bd3916-7be3-49ce-aaed-d728fcaeb163","block_type":"box","text":"authorities and any benefits obtained by a Sub-Fund","page_number":32,"box":{"x":523,"y":128,"width":399,"height":11}},{"id":"49bfd781-78e2-48db-959d-bf6da6781466","block_type":"box","text":"and/or Unitholder under a tax treaty), a new tax levied","page_number":32,"box":{"x":523,"y":141,"width":399,"height":12}},{"id":"c243869f-0f2f-4a48-bdb9-b47ee9e64283","block_type":"box","text":"on securities held by a Sub-Fund or any stock lending","page_number":32,"box":{"x":523,"y":155,"width":399,"height":11}},{"id":"cf3eee47-2d11-4c5a-a2cb-8635e4a5fa6d","block_type":"box","text":"activities carried out by a Sub-Fund.","page_number":32,"box":{"x":523,"y":169,"width":266,"height":11}},{"id":"25053f15-9eb2-42af-824f-ecb885779086","block_type":"box","text":"27. Taxation","page_number":32,"box":{"x":535,"y":194,"width":115,"height":9}},{"id":"674c6159-e3ba-4e70-9bda-5a051a5adba6","block_type":"box","text":"The following provides guidance to United Kingdom","page_number":32,"box":{"x":523,"y":214,"width":399,"height":11}},{"id":"f15ec3dc-aaff-476d-8725-4f6fe903043b","block_type":"box","text":"(\"","page_number":32,"box":{"x":524,"y":227,"width":9,"height":12}},{"id":"fd24b2d0-e883-46c5-b5be-5c2f52f16460","block_type":"box","text":"UK","page_number":32,"box":{"x":536,"y":228,"width":23,"height":8}},{"id":"73a34626-2e94-4646-a1ca-53942cea21ba","block_type":"box","text":"\") corporate taxpayers other than dealers in","page_number":32,"box":{"x":560,"y":227,"width":362,"height":12}},{"id":"8e3ee9f8-1d2f-4a67-8208-5d850fc58dd1","block_type":"box","text":"securities on the UK taxation treatment of an ACS.","page_number":32,"box":{"x":523,"y":241,"width":399,"height":9}},{"id":"147f90ce-3d19-40df-b02f-c63a62e59bf1","block_type":"box","text":"This summary is general in nature and it is strongly","page_number":32,"box":{"x":523,"y":255,"width":400,"height":11}},{"id":"e08d59e5-418b-47f6-9b3c-42d2ee7ce54c","block_type":"box","text":"recommended that Unitholders and potential","page_number":32,"box":{"x":524,"y":269,"width":398,"height":10}},{"id":"46a36196-01a5-48fb-96e8-85fc2fbdf987","block_type":"box","text":"Unitholders seek professional tax advice on their own","page_number":32,"box":{"x":524,"y":282,"width":398,"height":11}},{"id":"f387cebd-bc3d-42c7-ae57-1c5fa2228f16","block_type":"box","text":"situation. The taxation treatment outlined below could","page_number":32,"box":{"x":523,"y":296,"width":399,"height":9}},{"id":"38fe0246-5cc1-47fd-a9a8-eb3973bb1021","block_type":"box","text":"also change in future.","page_number":32,"box":{"x":523,"y":309,"width":159,"height":12}},{"id":"a3275fc7-2bff-47db-b071-9c0b995f1a76","block_type":"box","text":"(a)","page_number":32,"box":{"x":536,"y":335,"width":18,"height":11}},{"id":"fa743c3f-423c-4357-9c1b-751e09f81be8","block_type":"box","text":"Taxation of each Sub-Fund of the Scheme","page_number":32,"box":{"x":582,"y":335,"width":335,"height":9}},{"id":"86ae8472-24d6-4276-a880-6b8b3d0c0462","block_type":"box","text":"As the Scheme is an umbrella co-ownership ACS","page_number":32,"box":{"x":523,"y":354,"width":399,"height":12}},{"id":"bd77f573-89f1-4818-896c-c7624be6d0cb","block_type":"box","text":"neither the Scheme nor its Sub-Funds are subject to","page_number":32,"box":{"x":524,"y":368,"width":399,"height":11}},{"id":"9c736407-1bb4-45b0-ac53-2ad123706694","block_type":"box","text":"UK tax on income or capital profits.","page_number":32,"box":{"x":524,"y":382,"width":257,"height":11}},{"id":"3628b14e-d058-47dc-82e8-90702085fa42","block_type":"box","text":"(b)","page_number":32,"box":{"x":536,"y":407,"width":18,"height":12}},{"id":"f80dd74b-1fe3-4428-9bc6-dfce17e31f1b","block_type":"box","text":"Taxation of Unitholders","page_number":32,"box":{"x":582,"y":407,"width":187,"height":9}},{"id":"fae1fe9c-b753-4565-b055-94467b891704","block_type":"box","text":"Each Sub-Fund is tax transparent for income purposes","page_number":32,"box":{"x":524,"y":427,"width":399,"height":11}},{"id":"8c655981-e4bd-4343-a985-2b1542ef8b48","block_type":"box","text":"meaning that UK tax-paying Unitholders are subject to","page_number":32,"box":{"x":524,"y":441,"width":399,"height":11}},{"id":"e3f53824-d0c7-402e-a9a1-4081051160c9","block_type":"box","text":"tax on their share of income, net of allowable","page_number":32,"box":{"x":523,"y":454,"width":400,"height":11}},{"id":"5aeba8d2-b2c7-4ebf-8e2e-fec2edce8a8d","block_type":"box","text":"expenses, as it arises to the relevant Sub-Fund and","page_number":32,"box":{"x":523,"y":468,"width":399,"height":11}},{"id":"33db7613-1fc0-46ea-9b20-5426eedd4e44","block_type":"box","text":"not on distributions of income after deduction of","page_number":32,"box":{"x":524,"y":482,"width":399,"height":8}},{"id":"6ca1735d-697a-43aa-9bab-3def32365de0","block_type":"box","text":"expenses. Unitholders will therefore need information","page_number":32,"box":{"x":523,"y":495,"width":399,"height":11}},{"id":"69fa6ad2-6412-430e-a3a0-cf6802ede6a9","block_type":"box","text":"on their share of each Sub-Fund’s income, expenses","page_number":32,"box":{"x":523,"y":509,"width":400,"height":11}},{"id":"1fa02780-4f74-4a81-bf91-7c68863fa901","block_type":"box","text":"and tax suffered on underlying investments with","page_number":32,"box":{"x":523,"y":522,"width":399,"height":12}},{"id":"dbaefc05-3a10-47f4-bc96-b81fc82f1757","block_type":"box","text":"reference to their holding period.","page_number":32,"box":{"x":524,"y":536,"width":239,"height":11}},{"id":"20c57dbf-a40d-474f-8662-a7fa12b2152c","block_type":"box","text":"The ACS Manager will provide Unitholders in the","page_number":32,"box":{"x":523,"y":556,"width":400,"height":11}},{"id":"a6aaafb0-d38e-4c45-8fd1-a9696b055fc7","block_type":"box","text":"Scheme with daily price components and an annual","page_number":32,"box":{"x":523,"y":569,"width":399,"height":12}},{"id":"75ecc547-6149-4cc9-88b0-eea4eca71285","block_type":"box","text":"report showing their share of each Sub-Fund’s income","page_number":32,"box":{"x":524,"y":583,"width":399,"height":11}},{"id":"ab0c6aa5-9675-4e64-a878-05a7200e78f2","block_type":"box","text":"(and other amounts taxable as income or potentially","page_number":32,"box":{"x":524,"y":597,"width":399,"height":11}},{"id":"d75298a1-e6c1-4f73-89c1-acd6a99dcc34","block_type":"box","text":"deductible from income) that should help those","page_number":32,"box":{"x":523,"y":610,"width":400,"height":11}},{"id":"e14b8537-157c-403a-9224-a4e5d27c4d9f","block_type":"box","text":"Unitholders liable to UK taxation to comply with their","page_number":32,"box":{"x":524,"y":624,"width":399,"height":11}},{"id":"948144a0-a312-44b3-aae5-36c138112089","block_type":"box","text":"fiscal obligations. For the avoidance of doubt, this","page_number":32,"box":{"x":523,"y":638,"width":400,"height":11}},{"id":"205cea76-5129-4910-9b37-403d865a54bc","block_type":"box","text":"information does not extend to chargeable gains (and","page_number":32,"box":{"x":524,"y":651,"width":398,"height":12}},{"id":"23414ca9-126c-4966-8d91-eadb018b839d","block_type":"box","text":"allowable losses) realised by Sub-Funds and","page_number":32,"box":{"x":523,"y":665,"width":399,"height":11}},{"id":"64922180-ab2c-463a-9688-01ef5dd52ccb","block_type":"box","text":"Unitholders remain responsible for complying with","page_number":32,"box":{"x":524,"y":679,"width":398,"height":11}},{"id":"e2807e5f-290a-4b1e-ab59-2dc2cc6a7bbe","block_type":"box","text":"their obligations and ensuring that appropriate claims","page_number":32,"box":{"x":523,"y":692,"width":400,"height":12}},{"id":"e64264ff-a702-4697-80c1-8eaba537174b","block_type":"box","text":"and elections are made.","page_number":32,"box":{"x":523,"y":706,"width":177,"height":9}},{"id":"7b7455c4-ae2b-4119-8799-aa5e4fb7d486","block_type":"box","text":"For tax on chargeable gains purposes, Units are","page_number":32,"box":{"x":524,"y":726,"width":399,"height":11}},{"id":"9a7a880b-9dd4-4ebd-a475-c2fedc4937ee","block_type":"box","text":"deemed to be assets. Therefore UK Unitholders are","page_number":32,"box":{"x":523,"y":739,"width":400,"height":9}},{"id":"4775df80-3b23-46c4-949d-1876878f7dd5","block_type":"box","text":"liable to tax, to the extent net gains are made, on","page_number":32,"box":{"x":524,"y":753,"width":398,"height":11}},{"id":"acfdf670-05be-473a-840a-bed7f69e725c","block_type":"box","text":"disposal of their Units rather than when the Sub-Funds","page_number":32,"box":{"x":523,"y":767,"width":400,"height":11}},{"id":"0aa66038-e498-4ec8-83ab-4da8340e6d64","block_type":"box","text":"realise gains. UK insurance companies must consider","page_number":32,"box":{"x":524,"y":780,"width":399,"height":11}},{"id":"29c2ebbf-0f7a-4f7e-93cd-824c882e17b5","block_type":"box","text":"the impact of section 212 Taxation of Chargeable","page_number":32,"box":{"x":523,"y":794,"width":400,"height":11}},{"id":"36789b9a-9300-4aec-9caa-c7dafacf7e4c","block_type":"box","text":"Gains Act 1992 which imposes an annual deemed","page_number":32,"box":{"x":523,"y":807,"width":399,"height":12}},{"id":"f5051c9a-8ea8-4146-99fd-c234cd72e5cf","block_type":"box","text":"disposal on holdings in collective investment schemes","page_number":32,"box":{"x":523,"y":821,"width":400,"height":11}},{"id":"8db97447-2b88-4821-a596-ca7fb28b2a97","block_type":"box","text":"such as UK co-ownership ACSs and section 213 of the","page_number":32,"box":{"x":523,"y":835,"width":400,"height":11}},{"id":"b2904bbb-d825-48fc-9920-5cb472bce0d5","block_type":"box","text":"same Act which dictates when such gains or losses are","page_number":32,"box":{"x":523,"y":849,"width":400,"height":11}},{"id":"29c0b1f3-a4f2-411c-86ca-179a182e374c","block_type":"box","text":"brought into the charge to tax. This will generally be","page_number":32,"box":{"x":524,"y":862,"width":399,"height":11}},{"id":"b8de1c45-082e-434a-8cc6-236ff55bc4e7","block_type":"box","text":"over a seven year period but this period may be","page_number":32,"box":{"x":523,"y":876,"width":400,"height":11}},{"id":"1232808a-b2e5-4097-b439-dc3290483b9a","block_type":"box","text":"reduced in certain circumstances.","page_number":32,"box":{"x":524,"y":890,"width":247,"height":8}},{"id":"38e5bebd-e972-4123-b411-7bb5c12a755c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 33","page_number":33,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"2556b5be-b37d-4403-ae63-66fa88518faa","block_type":"box","text":"There is no stamp duty on dealings of Units in the Sub","page_number":33,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"5c676bf0-270d-4642-9f40-3861712b0aa0","block_type":"box","text":"Funds.","page_number":33,"box":{"x":63,"y":60,"width":48,"height":8}},{"id":"f5aa7708-3b8b-42cc-998d-59e20b0bf551","block_type":"box","text":"(c)","page_number":33,"box":{"x":63,"y":85,"width":17,"height":11}},{"id":"9c4783bc-c1f9-4bda-9842-db8a293023c1","block_type":"box","text":"Income equalisation","page_number":33,"box":{"x":110,"y":85,"width":159,"height":11}},{"id":"5af1d98b-d949-473b-9820-69aa47ba471c","block_type":"box","text":"Each Sub-Fund is tax transparent for income purposes","page_number":33,"box":{"x":63,"y":104,"width":398,"height":12}},{"id":"63003791-f67d-40f3-8126-501a1964ac2f","block_type":"box","text":"meaning that UK tax-paying Unitholders are subject to","page_number":33,"box":{"x":62,"y":118,"width":399,"height":11}},{"id":"5c28f0e0-0d1b-416b-b5ce-8b35e0409745","block_type":"box","text":"tax on their share of income, net of allowable","page_number":33,"box":{"x":62,"y":132,"width":399,"height":10}},{"id":"a95e8357-6629-4a6b-b193-fe2e34ea31d5","block_type":"box","text":"expenses, as it arises to the Sub-Fund and not on","page_number":33,"box":{"x":62,"y":145,"width":399,"height":12}},{"id":"d4175f83-34ab-4777-acce-f5fe7f957019","block_type":"box","text":"distributions of income after deduction of expenses.","page_number":33,"box":{"x":62,"y":159,"width":381,"height":11}},{"id":"c1b5e19b-a9f6-4af4-94ac-4e3b8fa4bb6a","block_type":"box","text":"Unitholders will be advised of their share of aggregated","page_number":33,"box":{"x":63,"y":185,"width":398,"height":11}},{"id":"893f5446-d789-4617-95df-51565c946451","block_type":"box","text":"accrued income, expenses and withholding tax paid on","page_number":33,"box":{"x":62,"y":199,"width":399,"height":11}},{"id":"5859966c-cb95-4fc5-9616-3ba4e8dcf4a4","block_type":"box","text":"overseas dividends, if applicable. When a Unit is","page_number":33,"box":{"x":62,"y":212,"width":399,"height":11}},{"id":"8bedc7dd-973f-4718-9f2c-d7abed36bf3f","block_type":"box","text":"purchased during the distribution period, part of the","page_number":33,"box":{"x":62,"y":226,"width":400,"height":11}},{"id":"b794f718-ab45-4e8a-bdc0-b1e9ef8286f1","block_type":"box","text":"purchase price of the Unit reflects the relevant share","page_number":33,"box":{"x":62,"y":239,"width":399,"height":11}},{"id":"0c49be44-f0ec-4928-94c8-1b77eb80d4e4","block_type":"box","text":"of income and expenses accrued by the Sub-Fund,","page_number":33,"box":{"x":62,"y":253,"width":398,"height":11}},{"id":"b3a537a2-e811-4264-9ebd-fd57eef1b506","block_type":"box","text":"and this will be disclosed on the contract note.","page_number":33,"box":{"x":62,"y":267,"width":340,"height":8}},{"id":"2a6e68b6-043d-4f91-99b9-dc4b4fb2f9b2","block_type":"box","text":"The subscription price disclosed on the contract note","page_number":33,"box":{"x":62,"y":292,"width":399,"height":11}},{"id":"e5553909-0d9e-4646-ad17-f2697addb022","block_type":"box","text":"reflects the acquisition cost which, in respect of","page_number":33,"box":{"x":63,"y":306,"width":399,"height":11}},{"id":"2230c2e3-034e-4869-8d6e-6dd2974fc6bd","block_type":"box","text":"determining the base cost of the Units for the purposes","page_number":33,"box":{"x":62,"y":320,"width":399,"height":11}},{"id":"345bd014-958f-4ebc-9c34-a1b9dba2ae47","block_type":"box","text":"of chargeable gains, should be adjusted by the","page_number":33,"box":{"x":62,"y":333,"width":399,"height":11}},{"id":"81dbf00c-ab21-4b02-bc9f-0d3a9acbd4fe","block_type":"box","text":"relevant share of income and expenses accrued by the","page_number":33,"box":{"x":63,"y":347,"width":398,"height":11}},{"id":"34a6f0b0-7cb7-4b72-861b-8e30d558b4f8","block_type":"box","text":"Sub-Fund as disclosed on the contract note.","page_number":33,"box":{"x":62,"y":360,"width":327,"height":9}},{"id":"8d52ab17-c9ca-4b7a-8e78-14e4de052b95","block_type":"box","text":"It is the responsibility of the Unitholder to maintain a","page_number":33,"box":{"x":63,"y":386,"width":399,"height":11}},{"id":"9bf7e4be-618f-4e1b-8c0b-69ce44bc6a94","block_type":"box","text":"record of the relevant amount(s) of income","page_number":33,"box":{"x":63,"y":400,"width":398,"height":11}},{"id":"42e66aac-b39e-4155-a9c9-1ee5daac1440","block_type":"box","text":"equalisation and to make the appropriate adjustment","page_number":33,"box":{"x":62,"y":413,"width":400,"height":11}},{"id":"cc3d036b-e68f-440e-b4c0-12707cbfbd30","block_type":"box","text":"when completing their tax calculations.","page_number":33,"box":{"x":62,"y":427,"width":285,"height":11}},{"id":"44d1f092-0eb7-4322-97e1-d0ab75cf8c15","block_type":"box","text":"Income equalisation will be applied on all of the Sub","page_number":33,"box":{"x":63,"y":452,"width":398,"height":12}},{"id":"433253fc-bf54-4125-a3c2-bd2abd58f09a","block_type":"box","text":"Funds in issue.","page_number":33,"box":{"x":63,"y":468,"width":110,"height":9}},{"id":"bd9c023f-467b-4bb9-bfd0-dcf4857bb3f3","block_type":"box","text":"(d)","page_number":33,"box":{"x":63,"y":496,"width":18,"height":11}},{"id":"65531adc-6eef-4c11-a5b9-deb9e32ee91d","block_type":"box","text":"Taxation of investments held by the Scheme","page_number":33,"box":{"x":109,"y":496,"width":353,"height":11}},{"id":"17fe3377-7c01-4cdb-bc01-4489e1badbe2","block_type":"box","text":"To the extent that withholding taxes on investment","page_number":33,"box":{"x":62,"y":515,"width":400,"height":12}},{"id":"22fdacae-8cde-47df-8eef-113af156f365","block_type":"box","text":"profits are not reclaimable the Unitholder is liable for","page_number":33,"box":{"x":62,"y":529,"width":400,"height":11}},{"id":"4a3d9b9b-55d8-4d2c-bbf3-020914221e74","block_type":"box","text":"the withholding tax on their share.","page_number":33,"box":{"x":62,"y":543,"width":249,"height":11}},{"id":"7b170b51-4626-43c0-a672-da832166218d","block_type":"box","text":"To help ensure the correct withholding tax treatment in","page_number":33,"box":{"x":62,"y":562,"width":399,"height":11}},{"id":"819985c3-8081-4966-a6ed-d9786840097e","block_type":"box","text":"respect of Scheme investments, Unitholders must","page_number":33,"box":{"x":63,"y":576,"width":399,"height":11}},{"id":"65352538-8f3f-4403-a4a3-20236b21a39f","block_type":"box","text":"notify the ACS Manager or transfer agent of any","page_number":33,"box":{"x":62,"y":590,"width":400,"height":11}},{"id":"99faddbd-45f6-4046-abdb-99dae16eaac6","block_type":"box","text":"change in tax status.","page_number":33,"box":{"x":62,"y":603,"width":152,"height":12}},{"id":"2604360e-5538-491e-a939-7d5368d6b456","block_type":"box","text":"To the extent the Depositary, the ACS Manager, the","page_number":33,"box":{"x":62,"y":623,"width":399,"height":11}},{"id":"a23e0f53-98cb-49f3-845a-d4246943e932","block_type":"box","text":"Investment Manager, any other provider of services to","page_number":33,"box":{"x":63,"y":637,"width":398,"height":11}},{"id":"60adc7c8-05f7-468b-a1c4-503b2dd968dd","block_type":"box","text":"or in relation to the Scheme, any Sub-Fund, any","page_number":33,"box":{"x":62,"y":650,"width":400,"height":11}},{"id":"405b716a-6706-4d09-8024-77c10dd8e92f","block_type":"box","text":"underlying investment or any of their respective","page_number":33,"box":{"x":63,"y":664,"width":398,"height":11}},{"id":"c12d47a0-fc90-4ab0-8630-d1cacadfb95e","block_type":"box","text":"delegates or agents is liable to pay any taxation","page_number":33,"box":{"x":62,"y":678,"width":399,"height":11}},{"id":"aa9f0e5f-5ebb-4056-9038-7f54677d5149","block_type":"box","text":"because of the ownership of Units, whether directly or","page_number":33,"box":{"x":62,"y":691,"width":400,"height":11}},{"id":"8b49e9cf-7016-4e7f-97e3-b44186da7758","block_type":"box","text":"indirectly, by any Unitholder and such taxation is not","page_number":33,"box":{"x":62,"y":705,"width":400,"height":11}},{"id":"40b00c0c-8e6b-4850-9f06-0b1075640e92","block_type":"box","text":"paid by the relevant Unitholder on its own account, he","page_number":33,"box":{"x":62,"y":719,"width":399,"height":11}},{"id":"e12758d3-8439-481f-85d9-422f99a2eddf","block_type":"box","text":"shall pay an amount equal to the amount of the","page_number":33,"box":{"x":62,"y":732,"width":399,"height":11}},{"id":"2bf8dbe8-1151-4c77-b2da-fafd22ec647e","block_type":"box","text":"taxation to the relevant Sub-Fund (or otherwise as the","page_number":33,"box":{"x":62,"y":746,"width":399,"height":11}},{"id":"31407dbd-7f9c-4ee4-890e-023601aac852","block_type":"box","text":"ACS Manager may direct) before the time it becomes","page_number":33,"box":{"x":62,"y":759,"width":399,"height":12}},{"id":"53bb2ae0-e8aa-43fe-9dab-d71c67e597aa","block_type":"box","text":"payable by the affected person. To the extent the","page_number":33,"box":{"x":62,"y":773,"width":399,"height":11}},{"id":"7207b195-ec6f-41d0-8cfc-e5e8959dc50e","block_type":"box","text":"amount of the taxation is not so paid, the Unitholder","page_number":33,"box":{"x":62,"y":787,"width":400,"height":11}},{"id":"9bb9caef-7560-44a9-8f76-87024ca720e8","block_type":"box","text":"shall indemnify the ACS Manager, the other","page_number":33,"box":{"x":62,"y":800,"width":400,"height":12}},{"id":"ce6b8302-7882-4d50-8e24-29379c19c03e","block_type":"box","text":"Unitholders or former Unitholders in the relevant Sub","page_number":33,"box":{"x":63,"y":814,"width":398,"height":9}},{"id":"4e9d073f-41be-47e5-a3fa-66dc7a11edc3","block_type":"box","text":"Fund or class, as appropriate, and any of the other","page_number":33,"box":{"x":63,"y":828,"width":399,"height":11}},{"id":"0aa146a2-a0e4-41de-94e9-203865c02995","block_type":"box","text":"persons mentioned who are affected by such taxation","page_number":33,"box":{"x":62,"y":841,"width":399,"height":11}},{"id":"79d9a45b-e038-49b2-9c4a-bf3529b351cc","block_type":"box","text":"in relation to all such amounts of taxation. The ACS","page_number":33,"box":{"x":62,"y":855,"width":399,"height":9}},{"id":"709fa5cc-41c2-44a2-bc5a-babd03ee9d2c","block_type":"box","text":"Manager in relation to the relevant Sub-Fund, or class,","page_number":33,"box":{"x":63,"y":869,"width":398,"height":11}},{"id":"e2d67dce-7445-4164-93a1-45c0eee98037","block_type":"box","text":"as appropriate, in which the Unitholder holds Units","page_number":33,"box":{"x":62,"y":882,"width":399,"height":11}},{"id":"7875c640-2cad-4282-bc5f-52c12ec90df2","block_type":"box","text":"shall have the right to deduct and set off the amount of","page_number":33,"box":{"x":62,"y":896,"width":400,"height":11}},{"id":"eb3599ca-4383-471e-9ca8-5b72d786ba08","block_type":"box","text":"such taxation from any income distributed to or","page_number":33,"box":{"x":62,"y":910,"width":400,"height":11}},{"id":"d780f9f3-1240-4202-84cd-1b795b1c0d54","block_type":"box","text":"accumulated on any Units owned by that Unitholder.","page_number":33,"box":{"x":523,"y":46,"width":399,"height":11}},{"id":"bb4c0485-a75f-4160-ad9d-e8de15c280a8","block_type":"box","text":"Further, any amounts equal to such taxation and not","page_number":33,"box":{"x":524,"y":60,"width":399,"height":11}},{"id":"2c83a3b5-8c64-4c72-93fd-df51ea8f95b9","block_type":"box","text":"paid as described may be deducted from any proceeds","page_number":33,"box":{"x":524,"y":73,"width":399,"height":11}},{"id":"8eb9b2f0-c527-47aa-8d5d-1988e0f4b72e","block_type":"box","text":"payable where a redemption request is met. The ACS","page_number":33,"box":{"x":524,"y":87,"width":398,"height":11}},{"id":"19c88ad3-4eb7-44e9-acf1-02670019a91b","block_type":"box","text":"Manager may also, compulsorily redeem any Units of","page_number":33,"box":{"x":524,"y":100,"width":399,"height":12}},{"id":"3988a175-9369-4531-a02c-d343887a0080","block_type":"box","text":"the Unitholder concerned and use the proceeds of","page_number":33,"box":{"x":523,"y":114,"width":400,"height":11}},{"id":"d2aee370-14c8-4fed-a1f5-926e00631f15","block_type":"box","text":"such redemption to pay any relevant taxation.","page_number":33,"box":{"x":523,"y":128,"width":337,"height":11}},{"id":"d2e656da-9dd1-45c9-96ba-191322ee3d19","block_type":"box","text":"(e)","page_number":33,"box":{"x":524,"y":153,"width":18,"height":11}},{"id":"8fa864c7-6ecc-46b5-876d-1f3c0212d5d3","block_type":"box","text":"Tax reporting","page_number":33,"box":{"x":570,"y":153,"width":106,"height":12}},{"id":"05a3a73d-5621-4bc0-9f6c-6f4b954b4581","block_type":"box","text":"The Scheme, the ACS Manager or both may have","page_number":33,"box":{"x":523,"y":173,"width":400,"height":11}},{"id":"11420cc7-d3f7-444c-952c-60f63bd36b6f","block_type":"box","text":"obligations to report details of Unitholders (and their","page_number":33,"box":{"x":523,"y":186,"width":400,"height":12}},{"id":"30b119d2-d95f-4d7c-aba6-919f3ad750e5","block_type":"box","text":"direct or indirect investors) and their interest in the","page_number":33,"box":{"x":523,"y":200,"width":400,"height":11}},{"id":"0884c50a-9fd3-4c29-aed1-335095691541","block_type":"box","text":"Scheme to HM Revenue & Customs or other tax","page_number":33,"box":{"x":523,"y":214,"width":400,"height":9}},{"id":"0634f2cb-3fe4-4201-9bca-b60c502cc3a0","block_type":"box","text":"authorities.","page_number":33,"box":{"x":523,"y":228,"width":80,"height":8}},{"id":"c61dc82b-836c-446a-8361-9ba748a4d5f4","block_type":"box","text":"This is because certain jurisdictions in which the","page_number":33,"box":{"x":523,"y":247,"width":400,"height":11}},{"id":"036e8737-29ba-4cdd-acd4-1bfa01e6aedb","block_type":"box","text":"Scheme intends to invest may require details of direct","page_number":33,"box":{"x":523,"y":261,"width":400,"height":11}},{"id":"aa08b01b-5f41-4f58-95c0-3eec624c419c","block_type":"box","text":"and indirect investors in such investment to be","page_number":33,"box":{"x":523,"y":274,"width":400,"height":9}},{"id":"d3b6d33a-09cb-470a-b4a8-02299ea3a087","block_type":"box","text":"reported to them.","page_number":33,"box":{"x":524,"y":288,"width":125,"height":11}},{"id":"474a7e3d-03d5-41b5-bd1f-516f38a39b4c","block_type":"box","text":"It is also because the UK has entered into","page_number":33,"box":{"x":524,"y":308,"width":399,"height":8}},{"id":"f26c2a67-dcd2-4cec-900f-fd323fd51dfd","block_type":"box","text":"intergovernmental information exchange agreements","page_number":33,"box":{"x":524,"y":321,"width":398,"height":11}},{"id":"56b90b90-946e-4c82-8ec2-935731a1c1bc","block_type":"box","text":"with the United States of America (as a result of the","page_number":33,"box":{"x":523,"y":335,"width":400,"height":11}},{"id":"8e8ea3c9-0632-40bb-b840-5f69a0266903","block_type":"box","text":"Foreign Account Tax Compliance Act (“FATCA”)) and","page_number":33,"box":{"x":524,"y":349,"width":398,"height":11}},{"id":"f539e546-417f-4b8d-bbee-dcbf1153f96e","block_type":"box","text":"other countries (as a result of the Common Reporting","page_number":33,"box":{"x":523,"y":362,"width":399,"height":11}},{"id":"b9f2ad79-a99d-45bb-bc89-9967e773045d","block_type":"box","text":"Standard) and has introduced domestic law to","page_number":33,"box":{"x":523,"y":376,"width":400,"height":11}},{"id":"23ff78be-7783-4699-a769-fcc3832fb975","block_type":"box","text":"implement the requirements of those regimes.","page_number":33,"box":{"x":524,"y":390,"width":398,"height":11}},{"id":"51258ac8-c6ec-4d41-b98f-11474ea6e247","block_type":"box","text":"Consequently, the ACS Manager is required to collect","page_number":33,"box":{"x":523,"y":403,"width":400,"height":11}},{"id":"4a9fce40-f123-4a95-bff4-38b61a789d1d","block_type":"box","text":"and/or report information about certain types of","page_number":33,"box":{"x":523,"y":417,"width":400,"height":11}},{"id":"8268aaaf-3a58-43fe-bc52-ad44808d7f58","block_type":"box","text":"Unitholders in the Scheme. Such information may","page_number":33,"box":{"x":524,"y":430,"width":399,"height":12}},{"id":"b69e7a4a-cc04-4112-adb1-f906952cfc44","block_type":"box","text":"include the identity of Unitholders, their tax","page_number":33,"box":{"x":524,"y":444,"width":399,"height":11}},{"id":"ce9d114d-149f-47b2-b57c-4e091d54df5e","block_type":"box","text":"identification numbers, their status under the","page_number":33,"box":{"x":524,"y":458,"width":399,"height":10}},{"id":"46601890-3459-4169-8a21-bdec15ef3919","block_type":"box","text":"information exchange agreements, their tax residency","page_number":33,"box":{"x":524,"y":471,"width":399,"height":12}},{"id":"146af929-367c-459c-a664-ef3bb4ba981c","block_type":"box","text":"status, payments made to the Unitholders in respect of","page_number":33,"box":{"x":523,"y":485,"width":400,"height":11}},{"id":"711f3a6b-4d9f-4e29-884f-b6cfffefa9a6","block_type":"box","text":"their Units and the value of the Units at the end of the","page_number":33,"box":{"x":523,"y":499,"width":400,"height":9}},{"id":"a7fbdfaa-bc53-4787-b9b8-5a075f466bc3","block_type":"box","text":"calendar year. The ACS Manager may pass this","page_number":33,"box":{"x":523,"y":512,"width":400,"height":12}},{"id":"e2728b1e-e2f8-4b5f-9df5-bd48a30b1890","block_type":"box","text":"information to HM Revenue & Customs who may, if","page_number":33,"box":{"x":524,"y":526,"width":399,"height":11}},{"id":"1d35d949-61df-48e0-be09-a93d1f1e5589","block_type":"box","text":"necessary, share this information with overseas","page_number":33,"box":{"x":524,"y":540,"width":399,"height":11}},{"id":"24ef076a-d031-4ede-b5dc-8f26d1d5b151","block_type":"box","text":"government agencies (including those outside the","page_number":33,"box":{"x":523,"y":553,"width":400,"height":12}},{"id":"e3dc1c69-72ae-4630-af73-daae3ed37f43","block_type":"box","text":"EEA).","page_number":33,"box":{"x":524,"y":567,"width":41,"height":11}},{"id":"adddd9bc-dd16-4f2b-b539-858ba9972372","block_type":"box","text":"Although it is the intention of the ACS Manager that all","page_number":33,"box":{"x":523,"y":594,"width":399,"height":12}},{"id":"652f21d2-992c-4ad8-a1f0-27fe13d1247a","block_type":"box","text":"of the Sub-Funds shall comply with the FATCA","page_number":33,"box":{"x":523,"y":608,"width":400,"height":11}},{"id":"f9ba95f4-5942-47cf-a080-df3abf34e02e","block_type":"box","text":"provisions, the ACS Manager is not able to guarantee","page_number":33,"box":{"x":524,"y":622,"width":399,"height":11}},{"id":"80b0eddb-60aa-4ca7-8746-196d0e80ded6","block_type":"box","text":"that this will always be the case. Any failure in this","page_number":33,"box":{"x":523,"y":635,"width":400,"height":11}},{"id":"25f34625-d80b-435a-86c4-a87c9fb22486","block_type":"box","text":"regard, may result in withholding tax of 30% being","page_number":33,"box":{"x":524,"y":649,"width":398,"height":11}},{"id":"28d2de9f-57d2-4a8a-8fc5-27e8e922ac3d","block_type":"box","text":"deducted from US sourced payments. Were such tax","page_number":33,"box":{"x":523,"y":663,"width":400,"height":11}},{"id":"e6d03cf4-f98e-4e8e-9237-67143ed9ffb6","block_type":"box","text":"to be suffered, it shall be charged to the relevant Sub","page_number":33,"box":{"x":523,"y":676,"width":399,"height":12}},{"id":"fcc9f515-914a-4a9c-b4ee-76044a58520d","block_type":"box","text":"Fund.","page_number":33,"box":{"x":524,"y":690,"width":40,"height":9}},{"id":"93c1cda1-7418-4707-af07-abee10485094","block_type":"box","text":"A condition of investing, or of continuing to invest, is","page_number":33,"box":{"x":523,"y":717,"width":400,"height":12}},{"id":"f984bcc6-b122-4030-87d8-5135f390cdd2","block_type":"box","text":"that, upon request from the ACS Manager or its","page_number":33,"box":{"x":523,"y":731,"width":400,"height":11}},{"id":"07bb6083-adec-4482-9e76-5905e44f933d","block_type":"box","text":"delegate, Unitholders provide accurate information to","page_number":33,"box":{"x":523,"y":745,"width":400,"height":11}},{"id":"a7c9f4fe-5118-41db-ba01-4d99575203ad","block_type":"box","text":"be passed on to HM Revenue & Customs which may,","page_number":33,"box":{"x":524,"y":758,"width":398,"height":11}},{"id":"ab98cf4a-a1b1-4605-b8d6-fdcf4c185b96","block_type":"box","text":"as already stated, be shared with other overseas","page_number":33,"box":{"x":523,"y":772,"width":400,"height":11}},{"id":"e8793c5a-270c-4892-8b43-03da4e7e2c77","block_type":"box","text":"government agencies.","page_number":33,"box":{"x":523,"y":786,"width":163,"height":11}},{"id":"b7f8ab5c-f236-408e-8a23-db47d5e6cfbe","block_type":"box","text":"The Scheme may also require information in respect","page_number":33,"box":{"x":523,"y":805,"width":400,"height":11}},{"id":"ba5a9f40-3e55-4f84-8d9d-c0eea7aafce8","block_type":"box","text":"of Unitholders (and their direct or indirect investors) in","page_number":33,"box":{"x":523,"y":819,"width":399,"height":11}},{"id":"e0213ae3-74f1-4157-8d11-d0e6aefea2dc","block_type":"box","text":"order to assess the tax liabilities of the Scheme, any","page_number":33,"box":{"x":523,"y":832,"width":400,"height":12}},{"id":"e6f571c1-3f0b-40ca-8dad-3837680bd67a","block_type":"box","text":"Sub-Fund or any underlying investment.","page_number":33,"box":{"x":523,"y":846,"width":296,"height":11}},{"id":"46f1da6c-837f-4f46-a0cd-ca0aa26f9ec4","block_type":"box","text":"(f)","page_number":33,"box":{"x":524,"y":872,"width":13,"height":11}},{"id":"5a8b3844-ea14-41c9-9e37-6eefd7ce23c7","block_type":"box","text":"Conversion, redemption or cancellation","page_number":33,"box":{"x":544,"y":872,"width":314,"height":11}},{"id":"45858b11-93ef-470e-bea6-7869445b6bb1","block_type":"box","text":"When the holder of any Units in any Class fails or","page_number":33,"box":{"x":523,"y":891,"width":400,"height":11}},{"id":"380a94f0-d477-4ac2-9b40-e0e38ce47c37","block_type":"box","text":"ceases for whatever reason to be entitled to receive","page_number":33,"box":{"x":523,"y":905,"width":400,"height":9}},{"id":"c4ddd9cd-83ab-466b-bf27-9a647988cfb5","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 34","page_number":34,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"66223eca-90ce-4ccb-8dcf-339070f5a4a9","block_type":"box","text":"distributions or have allocations made in respect of his","page_number":34,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"edb0489d-97d3-4ba9-a01b-8e8286b7e72e","block_type":"box","text":"holding of Units, in terms of the ACS Manager making","page_number":34,"box":{"x":62,"y":59,"width":399,"height":12}},{"id":"20be9a06-d242-437b-a3dd-96da2c94b5c3","block_type":"box","text":"or not making any deduction of applicable tax before","page_number":34,"box":{"x":62,"y":73,"width":399,"height":11}},{"id":"ca1a97ea-3ae3-4a39-ba75-62cf019f36f8","block_type":"box","text":"the distribution or allocation to the Unitholder or in","page_number":34,"box":{"x":62,"y":87,"width":399,"height":8}},{"id":"e2881367-aa42-444e-b68b-3798f44ad847","block_type":"box","text":"terms of the entitlement of the Unitholder to any","page_number":34,"box":{"x":62,"y":100,"width":400,"height":11}},{"id":"99b51155-8e13-4013-96d9-024e54e45555","block_type":"box","text":"particular rate of withholding tax whether or not under","page_number":34,"box":{"x":62,"y":114,"width":400,"height":11}},{"id":"e4bcb52c-440a-47ae-b38e-b2d55042edec","block_type":"box","text":"an applicable double taxation convention or other","page_number":34,"box":{"x":62,"y":128,"width":400,"height":11}},{"id":"c5e8af90-8d90-4624-b496-4b8b4b2477bf","block_type":"box","text":"agreement, as is envisaged for such Class, he shall,","page_number":34,"box":{"x":62,"y":141,"width":398,"height":12}},{"id":"4fe76b50-2764-4e4f-ba48-620abbeed784","block_type":"box","text":"without delay, give notice of this to the ACS Manager","page_number":34,"box":{"x":62,"y":155,"width":400,"height":11}},{"id":"3f11946a-d677-45a3-8804-8632925e39a1","block_type":"box","text":"and the ACS Manager shall, upon receipt of such","page_number":34,"box":{"x":62,"y":169,"width":399,"height":11}},{"id":"1c820866-b088-423c-80fe-e142abdc5c44","block_type":"box","text":"notice, treat the Unitholder concerned as if it had","page_number":34,"box":{"x":62,"y":182,"width":399,"height":11}},{"id":"9a51465b-4c70-479a-859c-d27f508a59a3","block_type":"box","text":"served on the ACS Manager a conversion notice in","page_number":34,"box":{"x":62,"y":196,"width":399,"height":11}},{"id":"565f2d13-acc9-431b-9bc7-03d38ec99da7","block_type":"box","text":"accordance with the ACS Deed requesting conversion","page_number":34,"box":{"x":62,"y":210,"width":399,"height":11}},{"id":"6113020a-2a76-4af3-ba7c-70c30905af3b","block_type":"box","text":"of all the relevant Units owned by such holder for Units","page_number":34,"box":{"x":62,"y":223,"width":399,"height":11}},{"id":"11fc3761-4f1f-4891-a0ee-d4dea23e991e","block_type":"box","text":"of the Class or Classes which, in the opinion of the","page_number":34,"box":{"x":62,"y":237,"width":399,"height":11}},{"id":"9176c2bb-2bb3-42bb-80cb-9a2bb15eaf09","block_type":"box","text":"ACS Manager, such Unitholder is entitled to hold and","page_number":34,"box":{"x":62,"y":250,"width":399,"height":12}},{"id":"7d7a0409-1622-4d37-baaa-8083342456f7","block_type":"box","text":"most nearly equate to the Class or Classes being","page_number":34,"box":{"x":62,"y":264,"width":399,"height":11}},{"id":"a9bca9dc-6ef4-4117-b2a3-e6968038e04c","block_type":"box","text":"converted by that holder; or, if there is, in the opinion","page_number":34,"box":{"x":62,"y":278,"width":399,"height":11}},{"id":"a3f651e5-8ca1-45cd-9f16-8353fa639723","block_type":"box","text":"of the ACS Manager, no suitable alternative Class, the","page_number":34,"box":{"x":62,"y":291,"width":399,"height":12}},{"id":"c86fd90d-e1cc-4a73-9f40-bca84bcbd492","block_type":"box","text":"ACS Manager shall, upon receipt of such notice, treat","page_number":34,"box":{"x":62,"y":305,"width":400,"height":11}},{"id":"947e2d47-ace2-4ee6-bf16-52c9abeeb633","block_type":"box","text":"the Unitholder concerned as if it had given a request in","page_number":34,"box":{"x":62,"y":319,"width":399,"height":11}},{"id":"1941e4a9-c627-4520-a95e-e5b22879943c","block_type":"box","text":"writing for the redemption or cancellation (at the","page_number":34,"box":{"x":62,"y":332,"width":399,"height":12}},{"id":"d5ba4316-77ba-4155-817d-a3fd6327adb2","block_type":"box","text":"discretion of the ACS Manager) of the affected Units.","page_number":34,"box":{"x":62,"y":346,"width":391,"height":11}},{"id":"ebe4ec07-0e49-4c19-8f86-8e3281056d0a","block_type":"box","text":"If at any time the ACS Manager becomes aware that","page_number":34,"box":{"x":63,"y":366,"width":399,"height":11}},{"id":"23f17121-c059-4412-81f4-72aaba5a9f24","block_type":"box","text":"the holder of any Units, on which it makes or intends","page_number":34,"box":{"x":62,"y":379,"width":399,"height":12}},{"id":"efaa6eb3-6db5-4ead-93bf-6f4ff07d2ae3","block_type":"box","text":"to make distributions or allocations without any tax","page_number":34,"box":{"x":62,"y":393,"width":400,"height":11}},{"id":"8eadb0d5-70be-4f1a-8a0d-925f05e80b21","block_type":"box","text":"being deducted or accounted for by the ACS Manager,","page_number":34,"box":{"x":62,"y":407,"width":398,"height":11}},{"id":"a721a2ba-ccfc-4dac-9d40-abec6881bc16","block_type":"box","text":"has failed or ceased for whatever reason to be entitled","page_number":34,"box":{"x":62,"y":420,"width":399,"height":9}},{"id":"0af2240e-a50d-4f01-b31d-bcca4214cbd9","block_type":"box","text":"to receive distributions or have allocations made in","page_number":34,"box":{"x":62,"y":434,"width":399,"height":9}},{"id":"840d7b62-c3fb-4191-8d73-00cb810a155f","block_type":"box","text":"respect of his holding of such Units without deduction","page_number":34,"box":{"x":63,"y":448,"width":398,"height":11}},{"id":"a9509d06-bb63-45d2-b1a1-d7fc92eed060","block_type":"box","text":"of applicable tax or in terms of the Unitholder's","page_number":34,"box":{"x":62,"y":461,"width":399,"height":11}},{"id":"4cd27339-5d5f-4bdb-bac8-4bbcc9b2abe6","block_type":"box","text":"entitlement to any particular rate of withholding tax,","page_number":34,"box":{"x":62,"y":475,"width":399,"height":11}},{"id":"09b7e6b9-82fa-43bb-aae4-58487cbca6e5","block_type":"box","text":"whether or not under an applicable double taxation","page_number":34,"box":{"x":62,"y":489,"width":399,"height":11}},{"id":"757af3eb-9cfa-4d77-a660-b4311eee2e43","block_type":"box","text":"convention or other agreement for the relevant Class,","page_number":34,"box":{"x":62,"y":502,"width":399,"height":12}},{"id":"8fa7905a-7232-4975-bdf9-3fdb6ba9e706","block_type":"box","text":"then the ACS Manager shall, without delay, treat the","page_number":34,"box":{"x":62,"y":516,"width":399,"height":11}},{"id":"1a140b7d-b33a-4d39-b3f5-8364348c98bb","block_type":"box","text":"Unitholder concerned as if it had served on the ACS","page_number":34,"box":{"x":63,"y":530,"width":398,"height":8}},{"id":"b606277a-42e1-4f9f-9afd-aaade1bd4e3b","block_type":"box","text":"Manager a conversion notice in accordance with the","page_number":34,"box":{"x":63,"y":543,"width":398,"height":12}},{"id":"4ae13c1a-15bf-47a8-a6f3-687a0fa643d5","block_type":"box","text":"ACS Deed requesting conversion of all the relevant","page_number":34,"box":{"x":62,"y":557,"width":400,"height":11}},{"id":"0a1abb86-cfe3-49a0-ab6a-545bdbdc252b","block_type":"box","text":"Units owned by such holder for Units of the Class or","page_number":34,"box":{"x":63,"y":571,"width":399,"height":11}},{"id":"843d2543-983a-49d5-b78b-d39367711116","block_type":"box","text":"Classes which, in the opinion of the ACS Manager,","page_number":34,"box":{"x":62,"y":584,"width":399,"height":12}},{"id":"b217bf91-d77c-428e-9408-bb7a3265e7ec","block_type":"box","text":"such Unitholder is entitled to hold and most nearly","page_number":34,"box":{"x":62,"y":598,"width":400,"height":11}},{"id":"037c1cd6-c5bf-4889-b418-112ed46682a2","block_type":"box","text":"equate to the Class or Classes being converted by that","page_number":34,"box":{"x":62,"y":611,"width":400,"height":12}},{"id":"52ec4d79-e38e-48a9-bfa5-9535a551e486","block_type":"box","text":"holder; or, if there is, in the opinion of the ACS","page_number":34,"box":{"x":62,"y":625,"width":399,"height":11}},{"id":"bec97ccb-15a1-410b-92d3-dbd2daf0d7b4","block_type":"box","text":"Manager, no suitable alternative Class, the ACS","page_number":34,"box":{"x":63,"y":639,"width":398,"height":11}},{"id":"9ce92252-7345-45dc-b7ca-10e0943d0b90","block_type":"box","text":"Manager shall, upon receipt of such notice, treat the","page_number":34,"box":{"x":63,"y":653,"width":398,"height":11}},{"id":"2737d0be-2332-4fc2-b297-6f96bebb36aa","block_type":"box","text":"Unitholder concerned as if it had given a request in","page_number":34,"box":{"x":63,"y":666,"width":398,"height":11}},{"id":"49044ffd-7423-45d0-85be-aaccc143c3fc","block_type":"box","text":"writing for the redemption or cancellation (at the","page_number":34,"box":{"x":62,"y":680,"width":399,"height":11}},{"id":"7666ab3a-7601-4200-b7c0-4376497a5d31","block_type":"box","text":"discretion of the ACS Manager) of the affected Units.","page_number":34,"box":{"x":62,"y":694,"width":391,"height":11}},{"id":"1651ba9a-eda1-4ea1-b596-23b130031a01","block_type":"box","text":"An amount equal to any tax charge incurred by the","page_number":34,"box":{"x":62,"y":713,"width":399,"height":11}},{"id":"77bb252c-1a5a-4990-9b3d-7e19aeae037c","block_type":"box","text":"Scheme or relevant Sub-Fund, Class or other","page_number":34,"box":{"x":62,"y":727,"width":400,"height":10}},{"id":"e4f26a3f-a29e-4573-8906-f538276b02bb","block_type":"box","text":"Unitholder, as appropriate, or for which the Depositary","page_number":34,"box":{"x":63,"y":741,"width":399,"height":11}},{"id":"cb4e9580-0bde-4cec-bf31-d6fe8b9697f3","block_type":"box","text":"or ACS Manager may be held liable as a result of a","page_number":34,"box":{"x":62,"y":754,"width":400,"height":11}},{"id":"a06513bc-9616-4ec5-8c81-fad98eb23448","block_type":"box","text":"conversion shall be recoverable from the Unitholder","page_number":34,"box":{"x":62,"y":768,"width":400,"height":9}},{"id":"dd621c06-98a3-49ec-b528-63d9f34e6ad6","block_type":"box","text":"concerned and may be accounted for in any","page_number":34,"box":{"x":62,"y":781,"width":400,"height":12}},{"id":"0144817e-1635-46f1-84d0-fc2ad40ebf88","block_type":"box","text":"adjustment made of the number of new Units to be","page_number":34,"box":{"x":62,"y":795,"width":399,"height":11}},{"id":"13e087b9-6336-4050-ac22-f1fc733a569d","block_type":"box","text":"issued.","page_number":34,"box":{"x":62,"y":809,"width":51,"height":9}},{"id":"be2bc8fd-08b1-4acd-b1f8-ed69002dc567","block_type":"box","text":"28. Charges","page_number":34,"box":{"x":74,"y":834,"width":113,"height":11}},{"id":"b94f479b-689b-432d-b0ba-b3db6aeffc77","block_type":"box","text":"The current charges made for each Sub-Fund are","page_number":34,"box":{"x":62,"y":854,"width":399,"height":11}},{"id":"585ee12a-1f9c-4515-962f-1755a56e3e51","block_type":"box","text":"shown below (subject to applicable value added tax","page_number":34,"box":{"x":62,"y":867,"width":400,"height":12}},{"id":"29fad897-1eff-4b67-9e1e-0caa9dbb6afd","block_type":"box","text":"(\"VAT\"), if any thereon). On giving at least 60 days'","page_number":34,"box":{"x":63,"y":881,"width":398,"height":11}},{"id":"c96f6f65-9653-4746-b54e-8070b9155f46","block_type":"box","text":"written notice to Unitholders, the ACS Manager may,","page_number":34,"box":{"x":62,"y":895,"width":398,"height":11}},{"id":"a3fbf4b8-c786-49a5-bffc-fe0e6d9725b0","block_type":"box","text":"where relevant, increase any of the charges on the","page_number":34,"box":{"x":62,"y":909,"width":399,"height":11}},{"id":"aa8611fc-03d7-43f3-b9e5-87f41685e5d4","block_type":"box","text":"Sub-Funds provided any such increase does not","page_number":34,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"6e3591e2-0b8f-4ed1-bc02-b9e78cd2226d","block_type":"box","text":"constitute a fundamental change to the Sub-Fund. Any","page_number":34,"box":{"x":523,"y":59,"width":400,"height":12}},{"id":"62a07f1d-5d7d-4785-9a1d-7d8c7455df9f","block_type":"box","text":"change to charges which constitutes a fundamental","page_number":34,"box":{"x":523,"y":73,"width":399,"height":11}},{"id":"60d779d7-b064-4f17-98b9-3235ba88c392","block_type":"box","text":"change will require prior Unitholder consent. For","page_number":34,"box":{"x":523,"y":87,"width":400,"height":11}},{"id":"63b2b552-8257-4951-a661-e18df97374e5","block_type":"box","text":"details of the categorisation of fundamental, significant","page_number":34,"box":{"x":523,"y":100,"width":400,"height":12}},{"id":"8d18748b-6af7-4a13-87ec-04b2ec5e8df8","block_type":"box","text":"and notifiable changes, please see section 31.","page_number":34,"box":{"x":523,"y":114,"width":343,"height":11}},{"id":"bfad460f-aa35-4040-8c69-17b08592e27f","block_type":"box","text":"Fees, costs and duties which are charged on the Sub","page_number":34,"box":{"x":524,"y":134,"width":398,"height":11}},{"id":"8401f5e4-6c9d-4499-bb15-2c86f44acfa5","block_type":"box","text":"Funds may, at the ACS Manager’s discretion, be","page_number":34,"box":{"x":524,"y":147,"width":399,"height":11}},{"id":"32c48a0c-fdec-4ba2-a438-87dea04edea2","block_type":"box","text":"charged to income or treated as a capital expense. The","page_number":34,"box":{"x":523,"y":161,"width":400,"height":11}},{"id":"601c793e-5b81-4148-8588-633bebb78a8e","block_type":"box","text":"current policy of the ACS Manager is to treat all fees,","page_number":34,"box":{"x":523,"y":174,"width":399,"height":12}},{"id":"8fb3ab2e-7888-46db-8dcc-108e8488df0b","block_type":"box","text":"costs and duties charged on the Sub-Funds as a","page_number":34,"box":{"x":523,"y":188,"width":400,"height":11}},{"id":"a382ef27-264a-40f3-aba6-f709eab089ac","block_type":"box","text":"capital expense, but the ACS Manager could, in the","page_number":34,"box":{"x":523,"y":202,"width":400,"height":11}},{"id":"08989d72-1aa0-460b-b1aa-061caf14ac95","block_type":"box","text":"future, decide that it is more appropriate for these fees,","page_number":34,"box":{"x":523,"y":216,"width":399,"height":11}},{"id":"053fe4e3-3dfb-4a45-a06e-c3dfc6108b31","block_type":"box","text":"costs and duties to be charged against income. Should","page_number":34,"box":{"x":523,"y":229,"width":400,"height":11}},{"id":"a1e4e979-1cf4-4c21-a31c-5f99b1e6f41d","block_type":"box","text":"this occur Unitholders will be notified either by an entry","page_number":34,"box":{"x":523,"y":243,"width":400,"height":11}},{"id":"fad7e239-0830-40b1-99cb-0ff82153e222","block_type":"box","text":"in the ACS Manager’s report or by special notification.","page_number":34,"box":{"x":524,"y":256,"width":398,"height":12}},{"id":"2759bc57-12b9-4612-af2b-903388c37dff","block_type":"box","text":"(a)","page_number":34,"box":{"x":536,"y":282,"width":18,"height":11}},{"id":"d215fadf-4212-4459-a3cc-f6f51e08cf56","block_type":"box","text":"ACS Management Charge","page_number":34,"box":{"x":582,"y":282,"width":205,"height":11}},{"id":"e573f78e-9dd5-4c0b-a287-c3c224e5d90f","block_type":"box","text":"The ACS Manager is permitted to deduct from each","page_number":34,"box":{"x":523,"y":302,"width":399,"height":11}},{"id":"4d7ced13-60bd-4bd3-894e-4d75013d863e","block_type":"box","text":"Sub-Fund an ACS management charge (in respect of","page_number":34,"box":{"x":523,"y":315,"width":400,"height":11}},{"id":"02aadc6a-ec21-4938-9034-f06cee2bf657","block_type":"box","text":"investment management services provided to the","page_number":34,"box":{"x":524,"y":329,"width":399,"height":11}},{"id":"3fa683d3-5584-4dc8-a7ce-e6f720898b6b","block_type":"box","text":"Scheme). However, with the exception of:","page_number":34,"box":{"x":523,"y":343,"width":308,"height":11}},{"id":"960bda83-5a5b-462b-8b66-93915b0205b5","block_type":"box","text":"","page_number":34,"box":{"x":523,"y":368,"width":9,"height":1}},{"id":"61c67df0-9a4f-47df-ab0e-db2a446fceae","block_type":"box","text":"UK Fund of Fund Accumulation Units (“FoF","page_number":34,"box":{"x":572,"y":363,"width":351,"height":11}},{"id":"29f4a20a-2619-4a8d-ba80-49c974550674","block_type":"box","text":"Units”); and","page_number":34,"box":{"x":572,"y":377,"width":84,"height":11}},{"id":"d8753cc4-2491-4174-b7d7-100953d42a0a","block_type":"box","text":"","page_number":34,"box":{"x":523,"y":402,"width":9,"height":1}},{"id":"c7c0f905-920c-4bf8-8663-a1d8b310a498","block_type":"box","text":"UK Feeder Fund Accumulation Units (“Feeder","page_number":34,"box":{"x":572,"y":397,"width":351,"height":11}},{"id":"21e1eb8e-3531-44e4-8c50-722d47ff600b","block_type":"box","text":"Units”);","page_number":34,"box":{"x":572,"y":411,"width":51,"height":11}},{"id":"ce207981-5bf5-4440-8373-07036c3cd8be","block_type":"box","text":"this charge will not be paid out of the property of a Sub","page_number":34,"box":{"x":523,"y":430,"width":400,"height":11}},{"id":"8c9c2940-9beb-407b-b076-fecf057f2713","block_type":"box","text":"Fund but instead will be charged in the manner set out","page_number":34,"box":{"x":524,"y":444,"width":399,"height":11}},{"id":"5981be4f-fb0e-4a49-8e09-7131987d2b4f","block_type":"box","text":"in an investor agreement entered into between the","page_number":34,"box":{"x":524,"y":458,"width":399,"height":11}},{"id":"6312e79d-7d17-471d-b6e4-e0a225527bbb","block_type":"box","text":"ACS Manager and the Unitholder. This does not","page_number":34,"box":{"x":523,"y":471,"width":400,"height":12}},{"id":"6047ee34-1d6f-4864-b57c-7713787c36c5","block_type":"box","text":"preclude the ACS Manager from changing the","page_number":34,"box":{"x":524,"y":485,"width":399,"height":11}},{"id":"8567454e-c6ff-4cd3-aed2-18dd2a954ba7","block_type":"box","text":"arrangement by giving due notice as agreed with the","page_number":34,"box":{"x":523,"y":499,"width":400,"height":11}},{"id":"4ab02dc5-9c61-412b-8750-d672b49dc6c0","block_type":"box","text":"Depositary to the Unitholder.","page_number":34,"box":{"x":524,"y":512,"width":210,"height":11}},{"id":"0dd3832b-2fde-4172-b8b3-f6453285a6fb","block_type":"box","text":"In respect of FoF Units any ACS Management Charge:","page_number":34,"box":{"x":524,"y":532,"width":398,"height":11}},{"id":"1b1c399d-ef76-4a2a-a2cf-fad825987139","block_type":"box","text":"","page_number":34,"box":{"x":524,"y":556,"width":5,"height":4}},{"id":"bb5c0c2a-77a5-4470-849b-a6c570adea50","block_type":"box","text":"will be deducted from Scheme property of the","page_number":34,"box":{"x":570,"y":552,"width":353,"height":12}},{"id":"9dc0f453-a12d-4a26-9661-98c2b859fd2e","block_type":"box","text":"FoF Units of the relevant Sub-Fund.","page_number":34,"box":{"x":572,"y":566,"width":264,"height":9}},{"id":"b42927e1-a728-4a1d-89e8-5597c4c3986c","block_type":"box","text":"","page_number":34,"box":{"x":524,"y":589,"width":5,"height":5}},{"id":"36e6122d-973f-4564-b0c0-6bb52c3c84e2","block_type":"box","text":"will accrue daily, and will be calculated as a","page_number":34,"box":{"x":570,"y":586,"width":353,"height":11}},{"id":"80c54b62-060f-4989-bf22-71748659d677","block_type":"box","text":"percentage of the net asset value of the FoF","page_number":34,"box":{"x":571,"y":600,"width":352,"height":11}},{"id":"b5b3ec8c-dbbb-42eb-bbfa-652cf836267f","block_type":"box","text":"Units within the relevant Sub-Fund on the","page_number":34,"box":{"x":572,"y":614,"width":351,"height":9}},{"id":"9c785d08-f1fb-4d11-85b1-412bd668de2a","block_type":"box","text":"previous Business Day, calculated on a mid","page_number":34,"box":{"x":571,"y":627,"width":351,"height":11}},{"id":"98c88ce9-7040-4e7a-95a1-82b91e9e4cfd","block_type":"box","text":"market basis.","page_number":34,"box":{"x":571,"y":641,"width":98,"height":9}},{"id":"e175cbf9-59e9-4c51-8d4b-6f11ba494345","block_type":"box","text":"","page_number":34,"box":{"x":524,"y":665,"width":5,"height":4}},{"id":"de1138b3-0176-45a9-a076-1b515fc7a82f","block_type":"box","text":"is payable quarterly in arrears.","page_number":34,"box":{"x":571,"y":662,"width":224,"height":11}},{"id":"f1b0a5c0-d1cb-465b-95b8-db5d972ebf76","block_type":"box","text":"","page_number":34,"box":{"x":524,"y":685,"width":5,"height":4}},{"id":"224c14fa-8896-4a4a-a050-c5a172f365c4","block_type":"box","text":"may be greater than the fees payable by the","page_number":34,"box":{"x":571,"y":682,"width":352,"height":11}},{"id":"97e885d3-56f4-4131-a631-39822fdecf14","block_type":"box","text":"ACS Manager in respect of investment","page_number":34,"box":{"x":570,"y":695,"width":353,"height":12}},{"id":"a4f2ffbd-5aa5-4410-81c5-ebc1cc80c7fc","block_type":"box","text":"management services provided by the","page_number":34,"box":{"x":571,"y":709,"width":352,"height":11}},{"id":"2475b2dd-ba51-46b3-ae3f-1d8218c8964b","block_type":"box","text":"Investment Manager. In these circumstances,","page_number":34,"box":{"x":572,"y":723,"width":350,"height":11}},{"id":"783e63ba-3313-421c-a8d1-7c297bc75a0f","block_type":"box","text":"the portion of the ACS management charge that","page_number":34,"box":{"x":570,"y":736,"width":353,"height":12}},{"id":"1f226e08-b446-4abb-b9f2-7c84741b22a7","block_type":"box","text":"exceeds the fees payable by the ACS Manager","page_number":34,"box":{"x":571,"y":750,"width":352,"height":11}},{"id":"557bb7aa-9779-409a-b877-e7ccfb16e138","block_type":"box","text":"will be retained by the ACS Manager.","page_number":34,"box":{"x":570,"y":764,"width":276,"height":11}},{"id":"101a90ed-4e37-4a8f-b54f-122165007495","block_type":"box","text":"Where FoF Units or Feeder Units have been made","page_number":34,"box":{"x":523,"y":783,"width":400,"height":9}},{"id":"76eeb799-75e2-44d6-8013-37ebb19c20c0","block_type":"box","text":"available on Sub-Funds where AIGSL is the","page_number":34,"box":{"x":523,"y":797,"width":400,"height":9}},{"id":"f90636f0-76c9-43f1-82d0-ca66a95eae70","block_type":"box","text":"Investment Manager, the ACS Manager currently","page_number":34,"box":{"x":524,"y":811,"width":399,"height":11}},{"id":"4f1d1f28-52eb-406d-8649-6d1138dd9743","block_type":"box","text":"charges 0.00% in respect of the FoF Units and Feeder","page_number":34,"box":{"x":523,"y":824,"width":400,"height":11}},{"id":"89754955-368b-4485-a752-8e98127f9f0c","block_type":"box","text":"Units, respectively, within the relevant Sub-Fund.","page_number":34,"box":{"x":524,"y":838,"width":398,"height":11}},{"id":"192ad0d2-f355-4bb5-aa73-819656e7e9fd","block_type":"box","text":"Where FoF Units have been made available on Sub","page_number":34,"box":{"x":523,"y":851,"width":399,"height":9}},{"id":"1eed5645-7384-4057-92c0-070357e6c37d","block_type":"box","text":"Funds where AIGSL is not the Investment Manager,","page_number":34,"box":{"x":524,"y":865,"width":398,"height":11}},{"id":"0ecd1bbd-48ea-4329-9c4c-63776a0587ba","block_type":"box","text":"the rate of any ACS Management Charge is stipulated","page_number":34,"box":{"x":523,"y":879,"width":399,"height":11}},{"id":"06e6847d-3aba-451c-a055-9371841b52c2","block_type":"box","text":"per relevant Sub-Fund in Appendix 1 of this","page_number":34,"box":{"x":524,"y":892,"width":399,"height":12}},{"id":"aab03e80-4c03-4537-999d-b4621c6cf9d3","block_type":"box","text":"Prospectus.","page_number":34,"box":{"x":524,"y":906,"width":86,"height":11}},{"id":"a23dae60-29d0-4f56-ae34-bce3f6328be6","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 35","page_number":35,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"43f81441-b221-43bb-9d5e-360405806fd1","block_type":"box","text":"This fee will comprise the fee payable to the ACS","page_number":35,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"3c88d746-da7c-474a-9b10-a149205b2ad4","block_type":"box","text":"Manager for all of its services, therefore including the","page_number":35,"box":{"x":63,"y":59,"width":398,"height":12}},{"id":"1f5967b1-f608-48bc-b923-26d7d0709500","block_type":"box","text":"expenses of the ACS Manager in respect of the","page_number":35,"box":{"x":62,"y":73,"width":399,"height":11}},{"id":"95f93a48-653f-4bc5-b62b-f148effc4968","block_type":"box","text":"administration and the oversight of its respective","page_number":35,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"198a5b30-fec4-413c-b6dc-9532c11b2e54","block_type":"box","text":"delegates, unless otherwise specified in this","page_number":35,"box":{"x":62,"y":100,"width":399,"height":12}},{"id":"97b40c82-e915-423c-b37e-2f1b8f0c757c","block_type":"box","text":"Prospectus, as well as investment management","page_number":35,"box":{"x":63,"y":114,"width":399,"height":11}},{"id":"9000ff66-ad66-48b4-ae64-c0f53f9fba60","block_type":"box","text":"services to the Sub-Fund, but will be reduced in","page_number":35,"box":{"x":62,"y":128,"width":399,"height":10}},{"id":"a4cff0a1-076b-4329-8d68-7636658727d3","block_type":"box","text":"respect of the pro-rated annual management charges","page_number":35,"box":{"x":63,"y":141,"width":398,"height":12}},{"id":"caa9b4e1-bb4b-457e-a3e0-dfd6c0946576","block_type":"box","text":"borne by the Sub-Fund’s investment in any underlying","page_number":35,"box":{"x":62,"y":155,"width":399,"height":11}},{"id":"63b138ef-c919-4c36-b8b8-88729e6277f7","block_type":"box","text":"fund in which the Sub-Fund invests from time to time.","page_number":35,"box":{"x":62,"y":169,"width":394,"height":9}},{"id":"9354bae3-a81d-4349-88e7-d5678043df13","block_type":"box","text":"As such, should the annual management charge","page_number":35,"box":{"x":62,"y":188,"width":399,"height":11}},{"id":"256f08a2-1b62-4278-8065-f0542ef76362","block_type":"box","text":"incurred by the underlying funds increase, the amount","page_number":35,"box":{"x":62,"y":202,"width":400,"height":11}},{"id":"f4c88515-2f13-4bc7-a67a-14b3575d14c6","block_type":"box","text":"of the ACS management charge that is deducted from","page_number":35,"box":{"x":62,"y":215,"width":399,"height":12}},{"id":"dbeaa1b0-5e9a-4f55-bf38-663ce20fbed0","block_type":"box","text":"Scheme property and which is payable to the ACS","page_number":35,"box":{"x":62,"y":229,"width":399,"height":11}},{"id":"801dc75f-2142-40c3-af1b-3b6bbdce11f4","block_type":"box","text":"Manager will decrease. Conversely, should the annual","page_number":35,"box":{"x":63,"y":243,"width":398,"height":11}},{"id":"c1a1dd7a-386c-4640-9666-0f39504375b9","block_type":"box","text":"management charge incurred by the underlying funds","page_number":35,"box":{"x":62,"y":257,"width":399,"height":11}},{"id":"9d38e50d-57e4-486c-a0d0-e74705939d97","block_type":"box","text":"decrease, the amount of the ACS management charge","page_number":35,"box":{"x":62,"y":270,"width":399,"height":11}},{"id":"a784877b-5e81-409a-a83c-379e7f4759da","block_type":"box","text":"that is deducted from Scheme property and which is","page_number":35,"box":{"x":62,"y":284,"width":399,"height":11}},{"id":"bad09be7-52b7-4008-9275-dc80931d47f4","block_type":"box","text":"payable to the ACS Manager will increase.","page_number":35,"box":{"x":62,"y":297,"width":314,"height":12}},{"id":"bdc2450d-ed22-41e8-bd83-866c9c3aafe3","block_type":"box","text":"The ACS Manager may make a charge to the property","page_number":35,"box":{"x":62,"y":317,"width":400,"height":11}},{"id":"2c9cddfa-eb96-43c7-91ea-971234f7e16b","block_type":"box","text":"of the Sub-Fund(s) in respect of any future Unit","page_number":35,"box":{"x":62,"y":331,"width":400,"height":11}},{"id":"56d81ace-52e1-4542-9548-ed54b6e81f9b","block_type":"box","text":"Classes issued by amendment to this prospectus. In","page_number":35,"box":{"x":62,"y":344,"width":399,"height":12}},{"id":"c8961068-1778-41d0-be7a-7c22031b631c","block_type":"box","text":"certain circumstances where one Sub-Fund of the","page_number":35,"box":{"x":62,"y":358,"width":399,"height":9}},{"id":"8e6ccc29-d6df-49b9-be28-725d8883f720","block_type":"box","text":"Scheme invests in Units of another, the ACS","page_number":35,"box":{"x":62,"y":372,"width":399,"height":10}},{"id":"52c3485e-8f9a-4dee-bc0c-34479c351423","block_type":"box","text":"Management charge will not be charged to the","page_number":35,"box":{"x":63,"y":386,"width":398,"height":11}},{"id":"d34945d0-7c07-4123-a2a6-b4f035d9d909","block_type":"box","text":"investing Sub-Fund. Further information is provided at","page_number":35,"box":{"x":62,"y":399,"width":400,"height":11}},{"id":"f857eed0-a180-4714-9cf1-5b5ad17f94c4","block_type":"box","text":"paragraph 5.8 of Appendix 6 below.","page_number":35,"box":{"x":62,"y":413,"width":263,"height":11}},{"id":"89b5a1ad-2fda-4b01-a1a5-f2624d1087c9","block_type":"box","text":"(b)","page_number":35,"box":{"x":74,"y":438,"width":19,"height":11}},{"id":"2860a36f-f3dd-4c57-9546-8902ec7ee00a","block_type":"box","text":"Administration Charge","page_number":35,"box":{"x":121,"y":438,"width":180,"height":11}},{"id":"a6a91e19-d0de-45e3-8c87-94b2abb72061","block_type":"box","text":"The ACS Manager is permitted to deduct from each","page_number":35,"box":{"x":62,"y":458,"width":399,"height":11}},{"id":"de427e22-6ec9-4ed5-bc97-bf04d132ddc8","block_type":"box","text":"Sub-Fund an administration charge, which reimburses","page_number":35,"box":{"x":62,"y":471,"width":399,"height":12}},{"id":"b3f31c5e-9bf6-457d-b1ef-84bd72a837db","block_type":"box","text":"the ACS Manager for carrying out its administration","page_number":35,"box":{"x":62,"y":485,"width":399,"height":11}},{"id":"4b8ff510-41f1-49c7-a994-d0c8573c2f51","block_type":"box","text":"duties and responsibilities in respect of the Scheme.","page_number":35,"box":{"x":62,"y":499,"width":385,"height":11}},{"id":"9c38b166-d790-4fff-9ae3-1e719612166f","block_type":"box","text":"The ACS Manager will use the administration charge","page_number":35,"box":{"x":62,"y":518,"width":399,"height":12}},{"id":"07a84b22-637a-4573-b157-6019b600e129","block_type":"box","text":"to cover the following costs, charges, fees and","page_number":35,"box":{"x":62,"y":532,"width":399,"height":11}},{"id":"784cc045-1892-484a-b739-c85cf037d878","block_type":"box","text":"expenses which the ACS Manager pays on behalf of","page_number":35,"box":{"x":62,"y":546,"width":400,"height":11}},{"id":"f49c82f0-eb5e-41bc-a11d-59c2ebc24e48","block_type":"box","text":"the Scheme:","page_number":35,"box":{"x":62,"y":559,"width":92,"height":9}},{"id":"d3d94189-69ba-4b49-a73d-64593b48e29b","block_type":"box","text":"","page_number":35,"box":{"x":62,"y":583,"width":6,"height":4}},{"id":"6f6af036-003b-41fa-8953-e0ab859bdb72","block_type":"box","text":"the expenses of the ACS Manager in respect of","page_number":35,"box":{"x":92,"y":580,"width":370,"height":11}},{"id":"9ebe60ae-345e-4a06-8883-395bbde5a073","block_type":"box","text":"the administration and the oversight of its","page_number":35,"box":{"x":92,"y":593,"width":369,"height":12}},{"id":"d66b0faa-5bf0-4a52-b896-b6dd8e7e96a1","block_type":"box","text":"respective delegates, unless otherwise specified","page_number":35,"box":{"x":93,"y":607,"width":368,"height":11}},{"id":"af7233bd-afe1-4fbd-aa2c-3abd8ef05eb3","block_type":"box","text":"in this Prospectus;","page_number":35,"box":{"x":93,"y":621,"width":134,"height":11}},{"id":"0d9d7d7e-81f9-4a37-9fa3-95029f7df888","block_type":"box","text":"","page_number":35,"box":{"x":62,"y":644,"width":6,"height":5}},{"id":"5dd82299-b555-4854-b422-c1e19db0b190","block_type":"box","text":"the fees and expenses payable to the","page_number":35,"box":{"x":92,"y":641,"width":369,"height":11}},{"id":"d900c932-5512-4e0c-9ba4-ccbef7523798","block_type":"box","text":"Administrator;","page_number":35,"box":{"x":92,"y":655,"width":102,"height":10}},{"id":"d3573d70-d8e7-42f3-b433-88aa345b8171","block_type":"box","text":"","page_number":35,"box":{"x":62,"y":678,"width":6,"height":5}},{"id":"7b8b9097-c688-400d-a47d-864ad34e1f8c","block_type":"box","text":"the fees payable to the Depositary (excluding the","page_number":35,"box":{"x":92,"y":675,"width":369,"height":11}},{"id":"51ca3d14-8e60-40e6-9f4f-568df4c06452","block_type":"box","text":"expenses payable to the Depositary and the fees","page_number":35,"box":{"x":92,"y":689,"width":369,"height":11}},{"id":"8665a00f-d0f7-4e4a-9613-c3e88f2fbe74","block_type":"box","text":"and expenses payable in respect of the","page_number":35,"box":{"x":92,"y":702,"width":369,"height":12}},{"id":"0492b1d5-e414-4ada-8745-5917d9dc6532","block_type":"box","text":"Depositary’s custodian functions, as detailed","page_number":35,"box":{"x":93,"y":716,"width":368,"height":11}},{"id":"329340e5-5094-44ff-910e-c9643033bbfd","block_type":"box","text":"below);","page_number":35,"box":{"x":93,"y":730,"width":51,"height":11}},{"id":"d4c52423-7938-4108-b230-61f1bcede68e","block_type":"box","text":"","page_number":35,"box":{"x":62,"y":753,"width":6,"height":5}},{"id":"ce97c4ec-8da2-4d67-837d-2f3a2416c492","block_type":"box","text":"any costs in respect of the preparation and","page_number":35,"box":{"x":92,"y":750,"width":369,"height":11}},{"id":"2fc47beb-7fa7-4462-8611-ce232cb84127","block_type":"box","text":"calculation of the net asset value and prices of","page_number":35,"box":{"x":92,"y":764,"width":370,"height":11}},{"id":"766c7675-7a51-43a2-9cbc-8486f0fdf970","block_type":"box","text":"Units and the publication and circulation thereof","page_number":35,"box":{"x":93,"y":777,"width":369,"height":12}},{"id":"17bfd0ac-34db-4052-a69d-98af3de1cf2f","block_type":"box","text":"(including the costs of electronic data/information","page_number":35,"box":{"x":93,"y":791,"width":368,"height":11}},{"id":"d77813e7-0287-460b-a67b-4485a4b764ff","block_type":"box","text":"sources) and the costs of obtaining fund ratings","page_number":35,"box":{"x":92,"y":805,"width":369,"height":11}},{"id":"ddbe8802-0838-4523-9304-0fc2fe01586f","block_type":"box","text":"and benchmark costs;","page_number":35,"box":{"x":92,"y":819,"width":162,"height":10}},{"id":"9e1a6951-3520-4f49-b7eb-7f65f15ed25b","block_type":"box","text":"","page_number":35,"box":{"x":62,"y":842,"width":6,"height":4}},{"id":"a4e85744-f280-4f51-b90b-412fdf95d20f","block_type":"box","text":"any cost in respect of establishing and maintaining","page_number":35,"box":{"x":92,"y":839,"width":369,"height":11}},{"id":"8c3520c4-c80f-47b8-806c-d70fd19f8460","block_type":"box","text":"the Register (and any sub register(s)) of the Sub","page_number":35,"box":{"x":92,"y":852,"width":369,"height":12}},{"id":"a4117c61-e458-4da9-a10b-29cb47dbae1f","block_type":"box","text":"Funds;","page_number":35,"box":{"x":93,"y":866,"width":48,"height":11}},{"id":"1978a9d7-2725-4104-9ccc-49cfa96ebcec","block_type":"box","text":"","page_number":35,"box":{"x":62,"y":890,"width":6,"height":4}},{"id":"33ac0155-7b68-4976-a919-75395ba4d4b0","block_type":"box","text":"any costs incurred in producing, distributing and","page_number":35,"box":{"x":92,"y":887,"width":369,"height":11}},{"id":"210a157f-ed05-42fe-bd7d-d3366431183e","block_type":"box","text":"dispatching income and other payments to","page_number":35,"box":{"x":92,"y":900,"width":370,"height":11}},{"id":"ec4520fb-12d2-4213-b8dc-0e610935dd0c","block_type":"box","text":"Unitholders unless otherwise specified in this","page_number":35,"box":{"x":554,"y":46,"width":369,"height":11}},{"id":"7681109d-9295-426c-81e2-27821ddbdef3","block_type":"box","text":"Prospectus;","page_number":35,"box":{"x":554,"y":60,"width":86,"height":10}},{"id":"da6f6b60-c47a-4117-aef4-cbd2cfe2554e","block_type":"box","text":"","page_number":35,"box":{"x":524,"y":83,"width":5,"height":4}},{"id":"2dec7cb3-5802-464b-946e-2efb1fabaa31","block_type":"box","text":"the fees and charges of the Auditor for conducting","page_number":35,"box":{"x":553,"y":80,"width":369,"height":11}},{"id":"769efef8-ded7-4d96-82f9-6fead9b62009","block_type":"box","text":"the annual audit of the Sub-Funds (excluding the","page_number":35,"box":{"x":553,"y":93,"width":370,"height":12}},{"id":"34aeb31b-1ae5-4296-9ffb-896931aae886","block_type":"box","text":"expenses and disbursements of the Auditor, see","page_number":35,"box":{"x":554,"y":107,"width":369,"height":11}},{"id":"ca8e8d4c-df71-47f9-8f20-99448d67b2a4","block_type":"box","text":"(d) (viii) below);","page_number":35,"box":{"x":554,"y":121,"width":112,"height":11}},{"id":"24a05555-ed70-45e0-b466-b43101e16d98","block_type":"box","text":"","page_number":35,"box":{"x":524,"y":144,"width":5,"height":5}},{"id":"d46d7e62-b9a6-4962-b244-7f92b6eaa6b7","block_type":"box","text":"the ACS Manager is also entitled to receive all","page_number":35,"box":{"x":553,"y":141,"width":369,"height":11}},{"id":"33edd85f-57fe-4a3b-be03-bfb007fe4cc1","block_type":"box","text":"reasonable, properly documented out of pocket","page_number":35,"box":{"x":554,"y":155,"width":369,"height":11}},{"id":"9685cdbc-c357-43d4-900b-824551200750","block_type":"box","text":"expenses incurred in the performance of its duties","page_number":35,"box":{"x":554,"y":168,"width":369,"height":12}},{"id":"11f4dd09-1cbe-4ef3-916f-96b1cd489fc9","block_type":"box","text":"and responsibilities.","page_number":35,"box":{"x":553,"y":182,"width":146,"height":11}},{"id":"529e89e6-2f9d-4d9c-84ac-d077199c80f7","block_type":"box","text":"The aggregate administration charge for each Sub","page_number":35,"box":{"x":523,"y":202,"width":399,"height":11}},{"id":"eff33fc9-7de7-4625-ab03-1e3701d07466","block_type":"box","text":"Fund will not exceed 0.07% per annum of the relevant","page_number":35,"box":{"x":524,"y":215,"width":399,"height":11}},{"id":"069d2ac3-64f6-4137-8aa3-ddb5b7effc7a","block_type":"box","text":"Sub-Fund’s value. However, the ACS Manager","page_number":35,"box":{"x":523,"y":229,"width":400,"height":11}},{"id":"2991914c-eaae-4fc6-bc6a-1ebbc4db39b6","block_type":"box","text":"estimates that the current aggregate administration","page_number":35,"box":{"x":523,"y":243,"width":399,"height":11}},{"id":"f86a5c3f-331b-4144-af44-c5118b94293c","block_type":"box","text":"charge will be up to 0.03% per annum of the relevant","page_number":35,"box":{"x":523,"y":256,"width":400,"height":12}},{"id":"df3c893c-bd29-4b5b-97d6-c7ca8fa3877b","block_type":"box","text":"Sub-Fund’s value.","page_number":35,"box":{"x":523,"y":270,"width":134,"height":9}},{"id":"4d3b4dfa-9923-49d8-aa43-53d71ec3c002","block_type":"box","text":"Any change to these figures will be notified to","page_number":35,"box":{"x":523,"y":290,"width":400,"height":11}},{"id":"93c44b6f-fee5-4f33-b922-3dc452bc5723","block_type":"box","text":"Unitholders in accordance with this Prospectus.","page_number":35,"box":{"x":524,"y":303,"width":350,"height":11}},{"id":"67e8c6df-8629-4286-99d5-1f6e7dd4e4dd","block_type":"box","text":"The administration charges will accrue daily and is","page_number":35,"box":{"x":523,"y":323,"width":400,"height":11}},{"id":"66917ee6-d9c9-45d7-b7aa-4ce16b4dfa71","block_type":"box","text":"calculated as a percentage of the net asset value of","page_number":35,"box":{"x":523,"y":336,"width":400,"height":12}},{"id":"eb6d1046-7177-4028-820f-299fe03277b1","block_type":"box","text":"the Units within the relevant Sub-Fund on the previous","page_number":35,"box":{"x":523,"y":350,"width":400,"height":11}},{"id":"7c1d7393-460d-4ff4-8bb5-d7cb8befdde9","block_type":"box","text":"Business Day calculated on a mid-market basis and","page_number":35,"box":{"x":524,"y":364,"width":398,"height":11}},{"id":"0dd46bac-cc9e-49c0-b113-317e5f1080cb","block_type":"box","text":"will be paid monthly in arrears as soon as practical","page_number":35,"box":{"x":523,"y":378,"width":399,"height":11}},{"id":"966d0f53-2f92-4b92-abe5-d5de1e022d26","block_type":"box","text":"after the month end.","page_number":35,"box":{"x":523,"y":391,"width":148,"height":9}},{"id":"d23a243b-89ec-4381-8816-f20e46268d15","block_type":"box","text":"(c)","page_number":35,"box":{"x":536,"y":417,"width":17,"height":11}},{"id":"e54b7df9-7820-439e-9cac-1cbe031e7810","block_type":"box","text":"Depositary's Expenses","page_number":35,"box":{"x":583,"y":417,"width":182,"height":11}},{"id":"c159e147-8f70-4af4-87a4-16156569fb1b","block_type":"box","text":"In addition to the Depositary’s fee which will form part","page_number":35,"box":{"x":524,"y":436,"width":399,"height":11}},{"id":"006ed9cc-10a8-4cb0-8c02-44ed4b433e3d","block_type":"box","text":"of the administration charge, the Depositary is entitled","page_number":35,"box":{"x":523,"y":450,"width":399,"height":11}},{"id":"e7c18c15-b783-468e-88f6-fc02885ec7a4","block_type":"box","text":"to receive reimbursement out of the property of each","page_number":35,"box":{"x":523,"y":464,"width":399,"height":11}},{"id":"7db1a03e-7027-4df0-84cb-71ca1b2a0a16","block_type":"box","text":"Sub-Fund for expenses properly incurred in","page_number":35,"box":{"x":523,"y":477,"width":399,"height":11}},{"id":"f36f13b0-d53d-433a-b853-a9d6e5786f36","block_type":"box","text":"performing or arranging for the performance of","page_number":35,"box":{"x":524,"y":491,"width":399,"height":11}},{"id":"c4534ad1-96e0-4ca9-9113-456895f93942","block_type":"box","text":"functions conferred on it by the ACS Deed, the","page_number":35,"box":{"x":523,"y":504,"width":400,"height":12}},{"id":"c469eb0f-ec36-428f-89e9-ef82954bd993","block_type":"box","text":"Prospectus, the FCA Handbook, the Depositary","page_number":35,"box":{"x":524,"y":518,"width":399,"height":11}},{"id":"9d7542b1-6350-4d3b-9961-8467b616df5d","block_type":"box","text":"Services Agreement or by general law. These","page_number":35,"box":{"x":523,"y":532,"width":400,"height":11}},{"id":"646d50be-d722-4b6b-ba02-05eb950c73c4","block_type":"box","text":"functions may include (without limitation of the","page_number":35,"box":{"x":523,"y":546,"width":400,"height":11}},{"id":"ab858790-12de-4402-a249-140f0f02bae6","block_type":"box","text":"foregoing) custody, insurance, acquisition and dealing","page_number":35,"box":{"x":523,"y":559,"width":399,"height":11}},{"id":"292f6490-2488-4be1-ba79-14055a9ed547","block_type":"box","text":"with assets of the Scheme; making deposits or loans,","page_number":35,"box":{"x":523,"y":573,"width":399,"height":11}},{"id":"e2b14c25-9d2a-4195-8ff4-ded6b733df5d","block_type":"box","text":"dealing with borrowings, effecting foreign currency","page_number":35,"box":{"x":523,"y":586,"width":400,"height":12}},{"id":"7facd8a8-551c-436f-9874-1ef0a970234c","block_type":"box","text":"dealings and effecting efficient portfolio management","page_number":35,"box":{"x":523,"y":600,"width":400,"height":11}},{"id":"5adf7c13-4e29-47b5-9503-26a38ea54153","block_type":"box","text":"transactions, as permitted by the FCA Handbook;","page_number":35,"box":{"x":523,"y":614,"width":399,"height":11}},{"id":"13b56c5f-5d47-4929-887e-96f707efc4be","block_type":"box","text":"collection of income or capital; preparation of the","page_number":35,"box":{"x":523,"y":628,"width":400,"height":11}},{"id":"a1e315af-dfcc-4c60-a1a6-f2f3dc87f9d5","block_type":"box","text":"Depositary’s annual report; calling Unitholders’","page_number":35,"box":{"x":524,"y":641,"width":398,"height":11}},{"id":"3685d9b6-0d08-4c1c-ad0e-32c82b90a533","block_type":"box","text":"meetings and communicating with Unitholders;","page_number":35,"box":{"x":524,"y":655,"width":398,"height":11}},{"id":"25997728-fcb6-4925-ac1a-821e6cefa913","block_type":"box","text":"preparing, clearing and despatching income","page_number":35,"box":{"x":524,"y":669,"width":399,"height":11}},{"id":"a6596a1f-f449-45a4-bf05-b8088550de70","block_type":"box","text":"distribution payments; obtaining professional advice;","page_number":35,"box":{"x":523,"y":682,"width":399,"height":11}},{"id":"c2dd7a10-a631-4533-86c5-9d43d156b054","block_type":"box","text":"conducting legal proceedings; carrying out","page_number":35,"box":{"x":523,"y":696,"width":400,"height":11}},{"id":"90a6eaff-d034-4663-8cd8-ac9ca62091d4","block_type":"box","text":"administration relating to the Scheme; supervision of","page_number":35,"box":{"x":523,"y":709,"width":400,"height":12}},{"id":"27ddf6c6-3065-4c75-b0eb-243f9aec5963","block_type":"box","text":"certain of the activities of the ACS Manager and such","page_number":35,"box":{"x":523,"y":723,"width":399,"height":11}},{"id":"68dc17e3-7c81-4167-b2fe-c10e4616f095","block_type":"box","text":"other duties as the Depositary is permitted or required","page_number":35,"box":{"x":523,"y":737,"width":399,"height":11}},{"id":"4d006113-202c-416d-b373-517394798200","block_type":"box","text":"by law to perform. The Depositary’s reimbursement","page_number":35,"box":{"x":524,"y":750,"width":399,"height":12}},{"id":"018a9184-25f0-4a40-b553-25b05f15d8b4","block_type":"box","text":"shall accrue when the relevant transaction or other","page_number":35,"box":{"x":523,"y":764,"width":400,"height":9}},{"id":"e7ddeb8e-a78a-4f61-86b5-b13237ec3c27","block_type":"box","text":"dealing is effected and shall be paid monthly in arrears.","page_number":35,"box":{"x":523,"y":778,"width":399,"height":11}},{"id":"7a2a9479-0055-4653-aea2-6880980fbceb","block_type":"box","text":"On the winding up of the Scheme, a Sub-Fund or the","page_number":35,"box":{"x":523,"y":797,"width":400,"height":11}},{"id":"94ee02db-6aa2-44f4-8786-1ece142a6e51","block_type":"box","text":"redemption and cancellation of a class of Units, the","page_number":35,"box":{"x":524,"y":811,"width":399,"height":11}},{"id":"cbf7d2ad-042d-41c2-8c26-8b626b7e188b","block_type":"box","text":"Depositary will be paid all accrued and owing fees,","page_number":35,"box":{"x":524,"y":825,"width":398,"height":11}},{"id":"a8a45fd4-307b-4c33-bf49-48707a818340","block_type":"box","text":"charges and reimbursement of expenses due up to the","page_number":35,"box":{"x":523,"y":838,"width":400,"height":12}},{"id":"ff840cf0-57c6-431a-8dfb-35998356c821","block_type":"box","text":"date of commencement of the winding up, or due in","page_number":35,"box":{"x":523,"y":852,"width":399,"height":11}},{"id":"b0dc06a0-6c39-4651-9f2b-0583b5b6fa14","block_type":"box","text":"relation to the redemption and cancellation of the","page_number":35,"box":{"x":524,"y":866,"width":399,"height":11}},{"id":"f18c81b1-dd3c-4267-abc3-cd1e7e9adfa8","block_type":"box","text":"relevant class of Units (as appropriate) and any","page_number":35,"box":{"x":524,"y":879,"width":399,"height":11}},{"id":"3402683e-ac8b-4232-be9a-add4f54a54ce","block_type":"box","text":"additional expenses necessarily arising out of or in","page_number":35,"box":{"x":523,"y":893,"width":399,"height":11}},{"id":"b57d6793-2b47-4e79-983e-4060555d4ec2","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 36","page_number":36,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"1743b3b7-325f-47e2-86d2-6fd733e5980f","block_type":"box","text":"connection with its obligations under the Depositary","page_number":36,"box":{"x":62,"y":46,"width":400,"height":11}},{"id":"171e2228-805d-4d6e-8096-2474afee55d5","block_type":"box","text":"Services Agreement.","page_number":36,"box":{"x":62,"y":59,"width":154,"height":12}},{"id":"8421614b-4690-4b97-9406-bcc1fb10388a","block_type":"box","text":"The Depositary will also act as the custodian of the","page_number":36,"box":{"x":62,"y":79,"width":399,"height":11}},{"id":"761640e1-d107-4d97-9eb6-a8c072537aeb","block_type":"box","text":"property of the Scheme and is entitled to receive","page_number":36,"box":{"x":62,"y":93,"width":399,"height":11}},{"id":"2ab9dd4b-5ffe-44d1-beed-4cb4c9d15ec3","block_type":"box","text":"reimbursement of the custody fees as an expense of","page_number":36,"box":{"x":63,"y":106,"width":399,"height":11}},{"id":"55ad7227-65ee-4222-a60a-0f1b4439ea99","block_type":"box","text":"the Scheme. The Depositary’s reimbursement for","page_number":36,"box":{"x":62,"y":120,"width":400,"height":11}},{"id":"e51155ce-9486-4d7b-8ff5-6bbfdc99fab0","block_type":"box","text":"acting as custodian comprises a transaction fee plus","page_number":36,"box":{"x":62,"y":134,"width":399,"height":11}},{"id":"60ac17f2-e831-4ad1-9c19-b4e234b0f13a","block_type":"box","text":"safekeeping fees (such safekeeping fees covering","page_number":36,"box":{"x":62,"y":147,"width":399,"height":11}},{"id":"46f91107-41fc-4f87-900a-09aa6aee480f","block_type":"box","text":"assets in custody and those assets which are on loan","page_number":36,"box":{"x":62,"y":161,"width":399,"height":11}},{"id":"40f5a0e9-cf9e-4088-9629-bef00fac7f81","block_type":"box","text":"under the securities lending programme), each","page_number":36,"box":{"x":63,"y":175,"width":398,"height":11}},{"id":"5b9fc510-9dd3-489b-bd6c-6e0e88b920eb","block_type":"box","text":"determined by the territory or country in which each","page_number":36,"box":{"x":62,"y":188,"width":399,"height":11}},{"id":"90311a58-6940-46a3-90eb-769a01006c33","block_type":"box","text":"Sub-Fund’s assets are held. Currently, the transaction","page_number":36,"box":{"x":62,"y":202,"width":399,"height":11}},{"id":"af00fa56-e57b-4cf1-8c9c-b19bf569fccc","block_type":"box","text":"fees are in the range of £2.65 to £103.60 per","page_number":36,"box":{"x":62,"y":216,"width":400,"height":11}},{"id":"ce0467bc-89bb-4a9e-80e3-bdb045ae60ef","block_type":"box","text":"transaction and the safekeeping fees, based upon the","page_number":36,"box":{"x":62,"y":229,"width":399,"height":11}},{"id":"6bb2a638-6728-4bf6-88af-e4b517d8ba2d","block_type":"box","text":"value of the assets held in the territory or country in","page_number":36,"box":{"x":62,"y":243,"width":399,"height":11}},{"id":"014089a9-8a0c-4906-aaec-8b930ceb7802","block_type":"box","text":"question, are in the range of 0.0004% to 0.50% per","page_number":36,"box":{"x":62,"y":257,"width":400,"height":11}},{"id":"464449d0-2bbc-4bc3-a8ee-d7511b80d40d","block_type":"box","text":"annum.","page_number":36,"box":{"x":62,"y":272,"width":54,"height":7}},{"id":"39779c87-6dff-4893-b395-6b9024cad10a","block_type":"box","text":"The Depositary is also entitled to be reimbursed out of","page_number":36,"box":{"x":62,"y":290,"width":400,"height":11}},{"id":"2a978cac-d833-489d-831c-926c0beae198","block_type":"box","text":"the property of each Sub-Fund in respect of","page_number":36,"box":{"x":62,"y":303,"width":400,"height":12}},{"id":"03e7e25a-bd37-45c7-a195-c7993666c8a1","block_type":"box","text":"remuneration charged by the Depositary for such","page_number":36,"box":{"x":63,"y":317,"width":398,"height":11}},{"id":"44cf52a3-9c1b-47f9-acea-4909f8610c09","block_type":"box","text":"services as the ACS Manager and the Depositary may","page_number":36,"box":{"x":62,"y":331,"width":400,"height":11}},{"id":"7ab8e171-c162-4ddb-a52e-42e155f88b65","block_type":"box","text":"from time to time agree, being depositary services in","page_number":36,"box":{"x":62,"y":344,"width":399,"height":12}},{"id":"399eee50-e742-4366-8e53-a912dffb6455","block_type":"box","text":"performing or arranging for the performance of the","page_number":36,"box":{"x":62,"y":358,"width":399,"height":11}},{"id":"3f531b3c-7377-4121-85b4-7376e6eaf00c","block_type":"box","text":"functions conferred on the Depositary by the ACS","page_number":36,"box":{"x":62,"y":372,"width":399,"height":11}},{"id":"04906402-1a7c-4c79-b668-28ccd965c33a","block_type":"box","text":"Deed or FCA Handbook.","page_number":36,"box":{"x":63,"y":385,"width":181,"height":9}},{"id":"1ae795e4-91e0-416b-a57d-1435d99feff7","block_type":"box","text":"Reimbursement charged under this paragraph shall","page_number":36,"box":{"x":63,"y":405,"width":398,"height":11}},{"id":"d4408292-e333-4165-9492-be0c6396b893","block_type":"box","text":"accrue when the relevant transaction or other dealing","page_number":36,"box":{"x":62,"y":419,"width":399,"height":11}},{"id":"6dc6058b-38a5-4a14-98c5-2d7adb867c0c","block_type":"box","text":"is effected and shall be paid monthly in arrears.","page_number":36,"box":{"x":62,"y":432,"width":350,"height":11}},{"id":"e79d8e53-663c-49f2-9c82-a03603dc79b2","block_type":"box","text":"The following further expenses may also be paid out of","page_number":36,"box":{"x":62,"y":452,"width":400,"height":11}},{"id":"8b3cee1c-3ce2-4019-a8e3-2f2c0adb334d","block_type":"box","text":"the property of the Scheme:","page_number":36,"box":{"x":62,"y":466,"width":205,"height":11}},{"id":"b699fa83-a6d3-4577-a6d9-92237476233a","block_type":"box","text":"","page_number":36,"box":{"x":62,"y":489,"width":6,"height":4}},{"id":"29d1f345-a102-4187-befc-e12ae90406a6","block_type":"box","text":"all charges imposed by, and expenses of, any","page_number":36,"box":{"x":110,"y":486,"width":352,"height":11}},{"id":"b654f612-00ec-449d-b558-3914808cc51a","block_type":"box","text":"agents appointed by the Depositary to assist in","page_number":36,"box":{"x":110,"y":500,"width":351,"height":11}},{"id":"96b6aa20-2a0a-4950-aaab-f82eb7ec6716","block_type":"box","text":"the discharge of its duties;","page_number":36,"box":{"x":109,"y":513,"width":193,"height":11}},{"id":"0aa88aab-1221-454b-834e-2c31cd0e13ef","block_type":"box","text":"","page_number":36,"box":{"x":62,"y":537,"width":6,"height":4}},{"id":"31114122-baa3-4309-9cea-469bcfac4408","block_type":"box","text":"all charges and expenses incurred in connection","page_number":36,"box":{"x":110,"y":534,"width":351,"height":11}},{"id":"3b3d0c4e-b278-4010-ad87-99135d0bed5d","block_type":"box","text":"with the collection and distribution of income;","page_number":36,"box":{"x":109,"y":547,"width":352,"height":11}},{"id":"ab889694-06e3-4885-b82d-406a7b29afb5","block_type":"box","text":"and","page_number":36,"box":{"x":110,"y":561,"width":26,"height":9}},{"id":"18111ea6-3664-4abb-818c-aedafa9f22a2","block_type":"box","text":"","page_number":36,"box":{"x":62,"y":585,"width":6,"height":4}},{"id":"14276fac-a0cc-442d-af89-652dae2cd255","block_type":"box","text":"all charges and expenses incurred in relation to","page_number":36,"box":{"x":110,"y":582,"width":351,"height":11}},{"id":"043b97b4-cfab-48e1-b422-bc5bc4e5229e","block_type":"box","text":"the preparation of the Depositary’s annual","page_number":36,"box":{"x":109,"y":595,"width":352,"height":11}},{"id":"1533e449-8119-44a8-802b-41df35558051","block_type":"box","text":"report to Unitholders.","page_number":36,"box":{"x":110,"y":609,"width":154,"height":11}},{"id":"22250f1b-7219-408f-95e3-87ee5beb6563","block_type":"box","text":"Subject to current law and HM Revenue & Customs","page_number":36,"box":{"x":62,"y":628,"width":399,"height":11}},{"id":"a45ee83f-6245-4a44-a4bb-07de589b47ce","block_type":"box","text":"regulations, VAT at the prevailing rate may be payable","page_number":36,"box":{"x":63,"y":642,"width":398,"height":11}},{"id":"2d9e0cf3-3431-47fd-9bd2-4783e8a7168c","block_type":"box","text":"in addition to the Depositary’s reimbursement and the","page_number":36,"box":{"x":62,"y":656,"width":399,"height":11}},{"id":"b2680fe5-8075-45cd-8e53-b3fba35a8152","block_type":"box","text":"above expenses.","page_number":36,"box":{"x":62,"y":669,"width":125,"height":11}},{"id":"2cfcbe09-4b12-4fc5-b07d-fcce60c5aebb","block_type":"box","text":"The rate of the Depositary’s transaction charges or","page_number":36,"box":{"x":62,"y":689,"width":400,"height":11}},{"id":"bc253ff6-fb06-49f5-83b1-6b31195493d2","block_type":"box","text":"charges for custody services may be increased only in","page_number":36,"box":{"x":62,"y":702,"width":399,"height":12}},{"id":"1634bbc1-bf3e-41cc-ac10-2ca1602c310a","block_type":"box","text":"accordance with the FCA Handbook.","page_number":36,"box":{"x":62,"y":716,"width":271,"height":9}},{"id":"57931885-f5e3-41d2-a52f-768e744eb9e8","block_type":"box","text":"(d) Securities Lending Agent’s Fee","page_number":36,"box":{"x":63,"y":736,"width":278,"height":11}},{"id":"2422d905-0d58-4cc2-8989-77b98b648c5d","block_type":"box","text":"For each Sub-Fund operating securities lending or","page_number":36,"box":{"x":63,"y":755,"width":399,"height":12}},{"id":"7dac7274-d62e-45b3-bb5e-f33aef7a604b","block_type":"box","text":"entering into repo transactions, the Securities Lending","page_number":36,"box":{"x":62,"y":769,"width":399,"height":11}},{"id":"99c49d79-3aa0-4e0f-868a-5601a987eac6","block_type":"box","text":"Agent is permitted to deduct a monthly fee equating to","page_number":36,"box":{"x":62,"y":783,"width":399,"height":11}},{"id":"0bdb826f-3f5f-4f46-85ba-ad9b2ae402f2","block_type":"box","text":"20 per cent of the income generated for that Sub-Fund","page_number":36,"box":{"x":62,"y":796,"width":399,"height":11}},{"id":"2f8afdce-56c8-4431-8af6-c7d05dcd07b3","block_type":"box","text":"from securities lending or entering into repo","page_number":36,"box":{"x":62,"y":810,"width":400,"height":11}},{"id":"69e8e5ac-d182-4c62-b357-dbe82fca3868","block_type":"box","text":"transactions. The fee will be charged to the relevant","page_number":36,"box":{"x":62,"y":824,"width":400,"height":11}},{"id":"3b80a436-ebdf-48a3-9944-75188b165024","block_type":"box","text":"Sub-Fund each month in respect of the activity from","page_number":36,"box":{"x":62,"y":837,"width":399,"height":11}},{"id":"0d796df7-a02f-4b29-bc2d-35f2941186e3","block_type":"box","text":"the preceding month. No additional fee will be charged","page_number":36,"box":{"x":62,"y":851,"width":399,"height":11}},{"id":"aa12085a-39c4-4544-99b1-1e412648654e","block_type":"box","text":"by the ACS Manager.","page_number":36,"box":{"x":62,"y":865,"width":158,"height":11}},{"id":"ab601d3b-85de-42cf-96a6-5bb9eb780566","block_type":"box","text":"(e) Other Expenses","page_number":36,"box":{"x":535,"y":46,"width":152,"height":11}},{"id":"a0b1045c-037a-44ee-863c-2dee66195f2c","block_type":"box","text":"The following other expenses may be reimbursed out","page_number":36,"box":{"x":523,"y":65,"width":400,"height":11}},{"id":"8fd79a05-776d-4789-a723-cccc3fb4054c","block_type":"box","text":"of the property of the Scheme:","page_number":36,"box":{"x":523,"y":79,"width":224,"height":11}},{"id":"43110808-0b64-491a-a605-0bc952057cd0","block_type":"box","text":"(i) costs of dealing in the property of the Scheme","page_number":36,"box":{"x":524,"y":99,"width":399,"height":11}},{"id":"89665012-aefa-4fba-a5f9-57cb04ed8d3d","block_type":"box","text":"(save where restricted pursuant to paragraph 5","page_number":36,"box":{"x":571,"y":112,"width":352,"height":12}},{"id":"20f4339d-ad45-4d8d-bf89-12df92973f22","block_type":"box","text":"(","page_number":36,"box":{"x":571,"y":126,"width":4,"height":11}},{"id":"fa3211f5-e939-448f-a183-ec95387d4eca","block_type":"box","text":"Collective Investment Schemes","page_number":36,"box":{"x":578,"y":126,"width":240,"height":9}},{"id":"3c809505-74af-4723-9161-94e2971604a9","block_type":"box","text":") of Appendix","page_number":36,"box":{"x":818,"y":126,"width":105,"height":11}},{"id":"816625e2-f369-4697-a05f-8221b74c81a8","block_type":"box","text":"6);","page_number":36,"box":{"x":571,"y":139,"width":17,"height":12}},{"id":"b445d4ad-79cc-4a61-a6d0-f37f8ed3b6b5","block_type":"box","text":"(ii) the transaction costs of the Registrar, which","page_number":36,"box":{"x":524,"y":159,"width":398,"height":11}},{"id":"6e3fe8b0-9659-4bb5-899e-c00aaa48fd03","block_type":"box","text":"includes the cost of producing and issuing","page_number":36,"box":{"x":571,"y":173,"width":351,"height":11}},{"id":"e1b2e5b5-63dd-4750-917f-49197c0df735","block_type":"box","text":"contract notes to Unitholders;","page_number":36,"box":{"x":571,"y":187,"width":216,"height":10}},{"id":"a7e46202-497b-4338-b9f9-e40f26824753","block_type":"box","text":"(iii) interest on borrowings permitted by the Scheme","page_number":36,"box":{"x":524,"y":206,"width":399,"height":11}},{"id":"8557e570-1032-45c7-bfed-8741dbe1ac60","block_type":"box","text":"and related charges;","page_number":36,"box":{"x":571,"y":220,"width":151,"height":11}},{"id":"c722d941-529a-4f7b-b927-fa29dffa2428","block_type":"box","text":"(iv) taxation and duties payable in respect of the","page_number":36,"box":{"x":524,"y":239,"width":399,"height":11}},{"id":"74a0777e-4a72-4fe7-9dd6-68dd9cfac83b","block_type":"box","text":"property of the Scheme, the ACS Deed, the","page_number":36,"box":{"x":571,"y":253,"width":352,"height":11}},{"id":"a7814bec-048b-425b-af59-c3b3c469e043","block_type":"box","text":"issue, surrender or transfer of Units (including,","page_number":36,"box":{"x":571,"y":267,"width":351,"height":11}},{"id":"c3b40af2-b725-45ce-ab34-e35424769229","block_type":"box","text":"without limitation, overseas transfer taxes and","page_number":36,"box":{"x":570,"y":280,"width":352,"height":11}},{"id":"2ceac447-2f6f-471b-af62-2116a3b1736c","block_type":"box","text":"capital gains tax and any similar generated tax","page_number":36,"box":{"x":571,"y":294,"width":352,"height":11}},{"id":"4587c202-7122-40e6-a387-b2fa8009355d","block_type":"box","text":"charges);","page_number":36,"box":{"x":571,"y":308,"width":68,"height":11}},{"id":"a358d135-a231-4989-95c8-45f9ef6247e7","block_type":"box","text":"(v) any costs incurred in modifying the ACS Deed,","page_number":36,"box":{"x":524,"y":327,"width":398,"height":11}},{"id":"3136cdec-8551-4c1f-ba12-1a55addc1ddc","block_type":"box","text":"including costs incurred in respect of meetings","page_number":36,"box":{"x":571,"y":341,"width":352,"height":11}},{"id":"b37514d7-7424-4643-97cb-c507329d849c","block_type":"box","text":"of Unitholders convened for purposes which","page_number":36,"box":{"x":571,"y":354,"width":351,"height":12}},{"id":"551ed451-f653-4878-9dcf-a9b7c7ea26ea","block_type":"box","text":"include the purpose of modifying the ACS Deed,","page_number":36,"box":{"x":571,"y":368,"width":351,"height":11}},{"id":"5f8d7e15-7fba-4455-9ee2-8a0386cd6b50","block_type":"box","text":"where the modification is necessary or","page_number":36,"box":{"x":570,"y":382,"width":353,"height":11}},{"id":"e0a8bf9f-a4fd-42fe-89fc-a6590be1b217","block_type":"box","text":"expedient by reason of changes in the law or to","page_number":36,"box":{"x":571,"y":395,"width":352,"height":12}},{"id":"93fa5a21-3046-4dcd-916a-0408eb932972","block_type":"box","text":"remove obsolete provisions;","page_number":36,"box":{"x":572,"y":409,"width":206,"height":11}},{"id":"63c9e53f-5274-4215-8971-9e28dfe69191","block_type":"box","text":"(vi) any costs incurred in respect of meetings of","page_number":36,"box":{"x":524,"y":429,"width":399,"height":11}},{"id":"5849879f-1b3d-4007-8ba8-000741e3f4ea","block_type":"box","text":"Unitholders convened on a requisition by","page_number":36,"box":{"x":572,"y":443,"width":351,"height":11}},{"id":"a3fb87a8-3497-471f-a6fe-b259c1e67b3f","block_type":"box","text":"Unitholders not including the ACS Manager or","page_number":36,"box":{"x":572,"y":456,"width":351,"height":11}},{"id":"49c074f6-ba7b-432d-95c6-f56264770c3e","block_type":"box","text":"an associate of the ACS Manager;","page_number":36,"box":{"x":571,"y":470,"width":254,"height":11}},{"id":"fb9f37e0-5b45-4d09-abe6-5a243cf8a481","block_type":"box","text":"unanticipated liabilities on unitisation, scheme of","page_number":36,"box":{"x":571,"y":489,"width":352,"height":11}},{"id":"510f4b95-e288-476a-a6e8-e251a0583560","block_type":"box","text":"arrangement or reconstruction where the","page_number":36,"box":{"x":571,"y":503,"width":352,"height":11}},{"id":"0b08d819-1727-4286-ad34-63cbac2fedfe","block_type":"box","text":"property of a body corporate or of another","page_number":36,"box":{"x":571,"y":517,"width":352,"height":11}},{"id":"5d34109c-1d58-49b4-aadc-c616ca8b1000","block_type":"box","text":"collective investment scheme is transferred to","page_number":36,"box":{"x":571,"y":530,"width":351,"height":9}},{"id":"079544ff-71ce-422a-8e1d-2e3e6ef4233f","block_type":"box","text":"the Depositary in consideration of the issue of","page_number":36,"box":{"x":570,"y":544,"width":353,"height":11}},{"id":"a5e1fab8-da52-453f-9e6e-0f4024082196","block_type":"box","text":"Units in the Scheme to shareholders in that body","page_number":36,"box":{"x":572,"y":557,"width":351,"height":12}},{"id":"16ca903a-806a-4f09-9d6d-c3063513d539","block_type":"box","text":"or to participants in that other scheme;","page_number":36,"box":{"x":571,"y":571,"width":283,"height":11}},{"id":"3408e2fb-787e-456e-b927-4e209d4f780d","block_type":"box","text":"(vii) the cost of preparation only of key investor","page_number":36,"box":{"x":524,"y":591,"width":399,"height":11}},{"id":"d07d1761-ce94-4351-83d8-972b4d1b85d0","block_type":"box","text":"information documents. The costs of","page_number":36,"box":{"x":571,"y":604,"width":352,"height":9}},{"id":"2ef092c9-ba15-4b20-ab20-726a2aedcc7f","block_type":"box","text":"preparation and distribution of reports,","page_number":36,"box":{"x":571,"y":618,"width":351,"height":11}},{"id":"ccbd3701-5a43-4238-a549-afaf51713da8","block_type":"box","text":"accounts, any prospectuses, the ACS Deed and","page_number":36,"box":{"x":571,"y":632,"width":351,"height":11}},{"id":"a227755f-8fa9-4e82-85fa-3c0bf06ffcca","block_type":"box","text":"any costs incurred as a result of changes to any","page_number":36,"box":{"x":571,"y":645,"width":352,"height":12}},{"id":"b7e0524f-52af-4dc4-9682-b7ad51bb444c","block_type":"box","text":"prospectus or ACS Deed, periodic updates of","page_number":36,"box":{"x":571,"y":659,"width":352,"height":11}},{"id":"7e30daaf-59e4-4001-91e4-4bdcd20369ee","block_type":"box","text":"any other administrative documents, as well as","page_number":36,"box":{"x":571,"y":673,"width":352,"height":11}},{"id":"9478b3dc-2384-4062-85a9-0563026b21fd","block_type":"box","text":"the cost of maintaining other documentation","page_number":36,"box":{"x":570,"y":686,"width":352,"height":12}},{"id":"fe1154b8-5299-4306-a139-0f0c86167b51","block_type":"box","text":"required to be maintained in respect of the","page_number":36,"box":{"x":572,"y":700,"width":350,"height":11}},{"id":"1e538154-2f21-4f78-b6e1-2a38adf4a250","block_type":"box","text":"Scheme;","page_number":36,"box":{"x":571,"y":714,"width":64,"height":10}},{"id":"471926eb-45d4-49b9-b803-a22f4ea97f28","block_type":"box","text":"(viii) any expenses and disbursements of the Auditor","page_number":36,"box":{"x":524,"y":733,"width":399,"height":12}},{"id":"239abb8a-a424-41d8-a4a3-9ee0476fb639","block_type":"box","text":"as well as the fees of and expenses of third party","page_number":36,"box":{"x":571,"y":747,"width":352,"height":11}},{"id":"d4c6c81f-987d-42a7-bdc6-8dc0426f71bd","block_type":"box","text":"tax, legal and other professional advisers","page_number":36,"box":{"x":570,"y":761,"width":353,"height":11}},{"id":"25e70586-b93a-4d05-81d3-9dfb55a21508","block_type":"box","text":"(including, without limitation, costs in relation to","page_number":36,"box":{"x":571,"y":774,"width":352,"height":12}},{"id":"9fd3c18e-a1de-41f1-b61c-642833d9cbec","block_type":"box","text":"regular UK AIFM Regime fund reporting to the","page_number":36,"box":{"x":572,"y":788,"width":351,"height":11}},{"id":"38260326-7486-4a91-a0bb-465eb5892497","block_type":"box","text":"FCA); and","page_number":36,"box":{"x":572,"y":802,"width":74,"height":11}},{"id":"6d26e647-828a-49d6-bcea-8ba83f72d2b1","block_type":"box","text":"(ix) the fees of the FCA under Schedule 1 Part III of","page_number":36,"box":{"x":524,"y":821,"width":399,"height":11}},{"id":"58257c83-f94d-4533-9f3f-97bcc34ac0c2","block_type":"box","text":"the Financial Services and Markets Act 2000","page_number":36,"box":{"x":570,"y":835,"width":352,"height":9}},{"id":"233e5212-8caf-438b-98bb-234c654ea79d","block_type":"box","text":"Act and the corresponding periodic fees of any","page_number":36,"box":{"x":570,"y":849,"width":353,"height":11}},{"id":"d1c7d071-6e4e-4e9d-9808-07682fb09e88","block_type":"box","text":"regulatory authority in a country or territory","page_number":36,"box":{"x":572,"y":862,"width":351,"height":11}},{"id":"717d32c2-72ef-433d-ac3b-0e47d0717668","block_type":"box","text":"outside the UK in which Units of the Scheme are","page_number":36,"box":{"x":571,"y":876,"width":352,"height":9}},{"id":"fe94cb45-d706-4e99-b00a-950264cc2ada","block_type":"box","text":"or may be marketed.","page_number":36,"box":{"x":571,"y":890,"width":152,"height":11}},{"id":"9c0749c3-e9bf-4f12-b73e-608ab5ff9874","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 37","page_number":37,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"9222af44-9761-4ab2-98c6-a2c7fe664409","block_type":"box","text":"The costs incurred by the ACS Manager in establishing","page_number":37,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"3c886738-7c87-4584-9077-9c510b0ad55d","block_type":"box","text":"the Scheme and any Sub-Fund including, but not","page_number":37,"box":{"x":62,"y":59,"width":400,"height":12}},{"id":"213f268e-161b-4d5e-a97f-fab43ba1dc62","block_type":"box","text":"limited to, the costs of obtaining professional advice,","page_number":37,"box":{"x":62,"y":73,"width":398,"height":11}},{"id":"af29bdef-76ce-4b8d-aa19-2be8bcadf354","block_type":"box","text":"may, at the discretion of the ACS Manager, be borne","page_number":37,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"62a708a7-584a-403f-804d-f19d62838ecf","block_type":"box","text":"by the Scheme or the relevant Sub-Fund.","page_number":37,"box":{"x":62,"y":100,"width":305,"height":11}},{"id":"25409684-bc1d-4850-924a-96259fb57121","block_type":"box","text":"Any third party research received in connection with","page_number":37,"box":{"x":62,"y":120,"width":399,"height":11}},{"id":"3c6342b8-d588-49eb-88c2-6adfd275cc8a","block_type":"box","text":"investment advisory services that the Investment","page_number":37,"box":{"x":62,"y":134,"width":400,"height":11}},{"id":"5f773c7b-f7f1-4dd2-8bb9-2ad2b4465c84","block_type":"box","text":"Manager or the ACS Manager provides to the Sub","page_number":37,"box":{"x":63,"y":147,"width":398,"height":11}},{"id":"3fb54318-a9b1-44a8-80d8-5321a0a427df","block_type":"box","text":"Funds will be paid for by the Investment Manager or","page_number":37,"box":{"x":63,"y":161,"width":399,"height":11}},{"id":"b68f412c-4c44-4c4b-b733-9717e273771f","block_type":"box","text":"the ACS Manager, as relevant in relation to each Sub","page_number":37,"box":{"x":62,"y":174,"width":399,"height":12}},{"id":"fb195a81-0bf7-4354-9a70-942d60d89803","block_type":"box","text":"Fund, out of its fees and will not be charged to the Sub","page_number":37,"box":{"x":63,"y":188,"width":398,"height":11}},{"id":"583c884e-4e56-4dda-8940-0b09138e2411","block_type":"box","text":"Funds.","page_number":37,"box":{"x":63,"y":202,"width":48,"height":9}},{"id":"8ef8611e-43e1-4c6d-9db0-6b606832ac5a","block_type":"box","text":"Fees, costs, and duties which are not attributable to a","page_number":37,"box":{"x":63,"y":222,"width":399,"height":10}},{"id":"ce29b861-5542-407c-9b83-2ad60cf23cd1","block_type":"box","text":"particular Sub-Fund will usually be allocated between","page_number":37,"box":{"x":62,"y":235,"width":399,"height":11}},{"id":"8aacd5ff-15dd-4c24-bfab-bc05c3a43d28","block_type":"box","text":"the Sub-Funds pro-rata to the net asset value of each","page_number":37,"box":{"x":62,"y":249,"width":399,"height":11}},{"id":"22ceec6b-6478-450c-872c-1b5582fbc156","block_type":"box","text":"Sub-Fund or in accordance with another reasonable","page_number":37,"box":{"x":62,"y":262,"width":399,"height":9}},{"id":"f7c3d0ed-2fc4-4fbe-b7eb-8a9d34791a9b","block_type":"box","text":"method at the ACS Manager's discretion.","page_number":37,"box":{"x":62,"y":276,"width":304,"height":11}},{"id":"40bfd018-e9b9-403c-ac56-3ab91bae4aa4","block_type":"box","text":"29. Conflicts of Interest","page_number":37,"box":{"x":74,"y":302,"width":204,"height":9}},{"id":"13b1cfaf-c921-4f8a-af38-c6cd5450d80b","block_type":"box","text":"(a)","page_number":37,"box":{"x":74,"y":328,"width":16,"height":10}},{"id":"d19d3bd3-abd9-4e81-b6da-564ae7acdb0b","block_type":"box","text":"Use of brokers","page_number":37,"box":{"x":122,"y":327,"width":116,"height":9}},{"id":"ca5f9ef0-cad9-4db3-b46c-60c364f4d7a9","block_type":"box","text":"Subject to any policies adopted by the ACS Manager,","page_number":37,"box":{"x":62,"y":347,"width":398,"height":11}},{"id":"e7a7280c-2f0c-4106-bb8e-8384469647e6","block_type":"box","text":"any powers or restrictions in relevant regulations or set","page_number":37,"box":{"x":62,"y":361,"width":400,"height":11}},{"id":"423faed0-7a1f-4fa7-85b5-0a010ad363af","block_type":"box","text":"forth in the ACS Deed, when arranging investment","page_number":37,"box":{"x":62,"y":374,"width":400,"height":11}},{"id":"10406796-f9b4-4575-8224-4b6e15d598df","block_type":"box","text":"transactions for a Sub-Fund of the Scheme, the ACS","page_number":37,"box":{"x":62,"y":388,"width":399,"height":10}},{"id":"ccbbea0c-f61d-45ed-952f-06742d24e0b7","block_type":"box","text":"Manager and the Investment Managers will seek to","page_number":37,"box":{"x":63,"y":402,"width":398,"height":11}},{"id":"250930db-f070-4a39-b36a-089c5a8ac1ce","block_type":"box","text":"obtain the best net results for that Sub-Fund, taking","page_number":37,"box":{"x":62,"y":415,"width":399,"height":12}},{"id":"311d70dd-08c5-4424-9d3f-f26f3f9f0e74","block_type":"box","text":"into account such factors as price (including the","page_number":37,"box":{"x":62,"y":429,"width":399,"height":11}},{"id":"23026f7d-1d38-447c-af59-89792ebece99","block_type":"box","text":"applicable brokerage commission or dealer spread),","page_number":37,"box":{"x":62,"y":442,"width":398,"height":12}},{"id":"c2370e4c-f242-40e8-bf2b-01ac3f77cfb6","block_type":"box","text":"size of order, difficulty of execution and operational","page_number":37,"box":{"x":62,"y":456,"width":399,"height":11}},{"id":"0458fb83-3c8b-464d-b5fb-121a717a460a","block_type":"box","text":"facilities of the firm involved and the firm's risk in","page_number":37,"box":{"x":62,"y":470,"width":399,"height":9}},{"id":"7f9dd116-382c-4501-9b84-a08befdb0e15","block_type":"box","text":"positioning a block of securities. Therefore, whilst the","page_number":37,"box":{"x":62,"y":484,"width":399,"height":11}},{"id":"c9cc2d72-57e5-4868-8360-81cab5694884","block_type":"box","text":"ACS Manager and the Investment Managers generally","page_number":37,"box":{"x":62,"y":497,"width":400,"height":11}},{"id":"028c7db4-b91d-4145-9ae9-d0d9b48a18cf","block_type":"box","text":"seek reasonably competitive commission rates, a Sub","page_number":37,"box":{"x":62,"y":511,"width":399,"height":11}},{"id":"215450f4-e834-4d3c-9ef1-2044e7c0c316","block_type":"box","text":"Fund does not necessarily pay the lowest commission","page_number":37,"box":{"x":63,"y":525,"width":398,"height":11}},{"id":"a893e74c-52b8-4e1f-acb7-4de48f1dd732","block_type":"box","text":"or spread available. In a number of developing","page_number":37,"box":{"x":62,"y":538,"width":399,"height":11}},{"id":"d688b7ca-c97e-4485-89eb-a18828ff47dd","block_type":"box","text":"markets, commissions are fixed pursuant to local law","page_number":37,"box":{"x":62,"y":552,"width":400,"height":11}},{"id":"0f094a6c-4daa-46ca-bcb5-abbe387f8c00","block_type":"box","text":"or regulation and, therefore, are not subject to","page_number":37,"box":{"x":62,"y":566,"width":399,"height":11}},{"id":"51a1ca76-18b3-4aef-8887-dd6d9e07b678","block_type":"box","text":"negotiation.","page_number":37,"box":{"x":62,"y":579,"width":85,"height":11}},{"id":"b4a88b53-d1d8-4334-ac39-cf08f8419c78","block_type":"box","text":"The ACS Manager, the Investment Managers, or both","page_number":37,"box":{"x":62,"y":605,"width":399,"height":11}},{"id":"3c5da3aa-1984-4ab0-a124-ec02eaa72ff4","block_type":"box","text":"may select brokers (including, without limitation,","page_number":37,"box":{"x":62,"y":618,"width":398,"height":11}},{"id":"075c6f34-dd44-4a25-bf58-1ac0cb1eda44","block_type":"box","text":"brokers who are affiliated with either the Aviva Group","page_number":37,"box":{"x":62,"y":632,"width":399,"height":11}},{"id":"6237ae9e-5adf-41e7-9701-208ef7d10b5a","block_type":"box","text":"or, if different, the Investment Managers). In line with","page_number":37,"box":{"x":62,"y":646,"width":399,"height":11}},{"id":"562c84a4-e006-43f7-a9f1-38a0c5a53e23","block_type":"box","text":"FCA regulations, the ACS Manager and the","page_number":37,"box":{"x":63,"y":659,"width":398,"height":12}},{"id":"eabf32f3-7f1e-4169-b209-f9477963b9b9","block_type":"box","text":"Investment Managers do not generate any soft","page_number":37,"box":{"x":63,"y":673,"width":399,"height":11}},{"id":"0f594956-02ff-43c8-80ae-42188144d76b","block_type":"box","text":"commissions for the Sub Funds.","page_number":37,"box":{"x":62,"y":687,"width":238,"height":8}},{"id":"0135cf49-65c1-4fcb-ac2d-444df5e6ab0d","block_type":"box","text":"When executing orders, or placing orders with other","page_number":37,"box":{"x":62,"y":706,"width":400,"height":11}},{"id":"2346ec71-106d-497a-a69e-046589feb51b","block_type":"box","text":"entities for execution, that relate to financial","page_number":37,"box":{"x":62,"y":720,"width":399,"height":10}},{"id":"1280a966-efdf-4bb5-9243-103b5f47c7cf","block_type":"box","text":"instruments for, or on behalf of, the Sub-Funds, the","page_number":37,"box":{"x":62,"y":733,"width":399,"height":11}},{"id":"dddfee08-f54c-45d9-83e3-8b8b8d2c210c","block_type":"box","text":"Investment Manager or ACS Manager (as relevant)","page_number":37,"box":{"x":63,"y":747,"width":398,"height":11}},{"id":"e4859506-9040-4f40-9a45-5a5863d18ec4","block_type":"box","text":"will not accept and retain any fees, commissions or","page_number":37,"box":{"x":62,"y":761,"width":400,"height":11}},{"id":"0cb00a5e-8c93-4c58-bc6c-68cc46e68565","block_type":"box","text":"monetary benefits; or accept any non-monetary","page_number":37,"box":{"x":62,"y":774,"width":400,"height":12}},{"id":"79826b6f-7013-4060-b47a-ee235ad7e3e5","block_type":"box","text":"benefits, where these are paid or provided by any third","page_number":37,"box":{"x":62,"y":788,"width":399,"height":11}},{"id":"a797b102-7be5-497d-9a7d-146e946f0720","block_type":"box","text":"party or a person acting on behalf of a third party.","page_number":37,"box":{"x":62,"y":802,"width":365,"height":11}},{"id":"6b11dd8c-983d-46df-a84a-c52731348b01","block_type":"box","text":"The Investment Manager or ACS Manager will return","page_number":37,"box":{"x":62,"y":821,"width":399,"height":12}},{"id":"757ca836-425b-4d30-b9a6-7baaa5b48c3c","block_type":"box","text":"to each relevant Sub-Fund as soon as reasonably","page_number":37,"box":{"x":62,"y":835,"width":400,"height":11}},{"id":"728c33be-dc80-4ddb-9348-1fb93d93e990","block_type":"box","text":"possible after receipt any fees, commissions or any","page_number":37,"box":{"x":62,"y":849,"width":400,"height":11}},{"id":"a575e1ed-a5e5-44fa-a098-4d851d2a0429","block_type":"box","text":"monetary benefits paid or provided by any third party","page_number":37,"box":{"x":62,"y":862,"width":400,"height":12}},{"id":"033caa61-ec61-4c41-b9e5-4ca0b775fb09","block_type":"box","text":"or a person acting on behalf of a third party in relation","page_number":37,"box":{"x":62,"y":876,"width":399,"height":11}},{"id":"4a4a803c-6025-4961-a529-ea3a590c7561","block_type":"box","text":"to the services provided to that fund, and disclose in","page_number":37,"box":{"x":62,"y":890,"width":399,"height":11}},{"id":"860171a4-fdce-41a4-b646-b458812cc089","block_type":"box","text":"the annual report the fees, commissions or any","page_number":37,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"922e4b0a-88d9-4e83-8df6-c6c944714d9b","block_type":"box","text":"monetary benefits transferred to them.","page_number":37,"box":{"x":524,"y":59,"width":282,"height":12}},{"id":"5d084f88-6a67-4d9c-8ab3-0aacafa373dd","block_type":"box","text":"However, the Investment Manager or ACS Manager","page_number":37,"box":{"x":524,"y":79,"width":399,"height":11}},{"id":"f0971a89-fe5c-4ff8-b79c-8504a112929f","block_type":"box","text":"may accept without disclosure minor non-monetary","page_number":37,"box":{"x":524,"y":93,"width":399,"height":11}},{"id":"ab830cb2-bb63-442c-9a77-d163063a71ae","block_type":"box","text":"benefits that are capable of enhancing the quality of","page_number":37,"box":{"x":524,"y":106,"width":399,"height":12}},{"id":"a953ad7b-9867-4be4-ab33-72a2e727b012","block_type":"box","text":"service provided to the fund; and of a scale and nature","page_number":37,"box":{"x":523,"y":120,"width":400,"height":11}},{"id":"eb1ab9c3-985c-4a79-8b24-cb044a281b37","block_type":"box","text":"such that they could not be judged to impair their","page_number":37,"box":{"x":523,"y":134,"width":400,"height":11}},{"id":"41bf90d7-d2f5-48ba-a494-b824623e6ebf","block_type":"box","text":"compliance with its duty to act honestly, fairly and","page_number":37,"box":{"x":523,"y":147,"width":399,"height":11}},{"id":"50b32aa0-9dfa-412c-af7d-19b676fc83b4","block_type":"box","text":"professionally in the best interests of each Sub-Fund.","page_number":37,"box":{"x":524,"y":161,"width":393,"height":11}},{"id":"00efc5da-ca4e-45f7-ac1e-b400ecac6ff4","block_type":"box","text":"(b)","page_number":37,"box":{"x":528,"y":181,"width":19,"height":11}},{"id":"7023e6ba-c343-4e1a-a1d4-eb01e41f84af","block_type":"box","text":"Relations with the Aviva Group","page_number":37,"box":{"x":572,"y":181,"width":246,"height":11}},{"id":"0e4eed44-111a-4188-873c-d7dc743c21c1","block_type":"box","text":"The ultimate holding company of the ACS Manager","page_number":37,"box":{"x":523,"y":206,"width":400,"height":11}},{"id":"1db5c046-b5f0-4bd4-b44e-912951db86a8","block_type":"box","text":"and AIGSL, is Aviva plc.","page_number":37,"box":{"x":523,"y":220,"width":178,"height":11}},{"id":"bd5069bd-26c7-4007-999a-48665c9d3a90","block_type":"box","text":"Subject to any restrictions adopted by the ACS","page_number":37,"box":{"x":523,"y":245,"width":399,"height":11}},{"id":"a8233f80-f675-4f7d-bb8b-23eb261c42dd","block_type":"box","text":"Manager, any powers or restrictions in relevant","page_number":37,"box":{"x":524,"y":259,"width":399,"height":11}},{"id":"3e376cab-f351-4167-9ec9-0e2a5a2d1aec","block_type":"box","text":"regulations or set forth in the ACS Deed, the ACS","page_number":37,"box":{"x":524,"y":272,"width":399,"height":12}},{"id":"11f0c9ed-b40a-4e33-ba3a-c6c809e8cfab","block_type":"box","text":"Manager and any other company in the Aviva Group","page_number":37,"box":{"x":524,"y":286,"width":399,"height":11}},{"id":"0d1894d8-4976-480a-8c3b-549e579c90ee","block_type":"box","text":"and any directors of the foregoing, may (a) have an","page_number":37,"box":{"x":523,"y":300,"width":399,"height":11}},{"id":"815021e7-c674-4f46-992f-07b0e357d53f","block_type":"box","text":"interest in the Scheme or in any transaction effected","page_number":37,"box":{"x":524,"y":313,"width":398,"height":12}},{"id":"d58c7d34-8f84-4e76-b98e-addc6ed0a340","block_type":"box","text":"with or for it, or a relationship of any description with","page_number":37,"box":{"x":523,"y":327,"width":399,"height":11}},{"id":"107a8bf8-8bbe-4596-b3a4-7b7754977986","block_type":"box","text":"any other person, which may involve a potential","page_number":37,"box":{"x":523,"y":341,"width":399,"height":11}},{"id":"80acec03-e692-465c-937a-a50c5e4e389d","block_type":"box","text":"conflict with their respective duties to the Scheme, and","page_number":37,"box":{"x":523,"y":354,"width":399,"height":12}},{"id":"cd1e684b-51dc-42c6-8029-5952e01fefb7","block_type":"box","text":"(b) deal with or otherwise use the services of","page_number":37,"box":{"x":524,"y":368,"width":399,"height":11}},{"id":"f0d268a8-a99d-481e-94c2-5eb2e5d2b348","block_type":"box","text":"companies in the Aviva Group in connection with the","page_number":37,"box":{"x":523,"y":382,"width":400,"height":11}},{"id":"417a958c-3fda-46cf-9ebc-385b394f12c6","block_type":"box","text":"performance of such duties; and none of them will be","page_number":37,"box":{"x":524,"y":395,"width":399,"height":12}},{"id":"d40bf21f-925e-41d4-ba9e-0790f692b30c","block_type":"box","text":"liable to account for any profit or remuneration derived","page_number":37,"box":{"x":524,"y":409,"width":399,"height":11}},{"id":"095dc59c-9281-42c5-a191-232afa1ba383","block_type":"box","text":"from so doing. For example, such potential conflicts","page_number":37,"box":{"x":523,"y":423,"width":400,"height":11}},{"id":"24a6ce35-e4c9-43b1-b884-c0c4677931e9","block_type":"box","text":"may arise because the relevant Aviva Group company:","page_number":37,"box":{"x":524,"y":436,"width":398,"height":12}},{"id":"428c8e65-b096-4633-93b2-65d401a933f3","block_type":"box","text":"(i) undertakes business for other clients;","page_number":37,"box":{"x":524,"y":462,"width":323,"height":11}},{"id":"082314db-39ad-4475-8e7f-250b2f4c00d1","block_type":"box","text":"(ii) has directors or employees who are directors of,","page_number":37,"box":{"x":524,"y":488,"width":398,"height":11}},{"id":"38c43a04-f70f-4d3a-8dd0-6e5401420d51","block_type":"box","text":"hold or deal in securities of, or are otherwise","page_number":37,"box":{"x":571,"y":501,"width":352,"height":11}},{"id":"49a7bcec-ce32-4c96-b1aa-726f1e940561","block_type":"box","text":"interested in, any company the securities of","page_number":37,"box":{"x":571,"y":515,"width":352,"height":11}},{"id":"e94ec978-007c-4e4b-92c3-26d6716dbac9","block_type":"box","text":"which are held by or dealt in on behalf of the","page_number":37,"box":{"x":570,"y":528,"width":353,"height":12}},{"id":"0e9efdcb-6479-4ef2-9878-28d2f2a767f6","block_type":"box","text":"Scheme;","page_number":37,"box":{"x":571,"y":542,"width":64,"height":10}},{"id":"0048de4e-1b0f-49cf-8704-2a3ee65bd024","block_type":"box","text":"(iii) may benefit from a commission, fee, mark-up or","page_number":37,"box":{"x":524,"y":568,"width":399,"height":11}},{"id":"f42a1ead-4910-4f04-87d1-4f05656952e2","block_type":"box","text":"mark-down payable otherwise than by the","page_number":37,"box":{"x":571,"y":581,"width":352,"height":11}},{"id":"c85077f8-38a1-4c8f-8ba3-f9e6c153d4a3","block_type":"box","text":"Scheme;","page_number":37,"box":{"x":571,"y":595,"width":64,"height":10}},{"id":"d452f4fb-88ae-40d0-873c-c24f9fb5a05a","block_type":"box","text":"(iv) may act as agent for the Scheme in relation to","page_number":37,"box":{"x":524,"y":620,"width":399,"height":12}},{"id":"20415389-edd6-49b6-98e9-1b2537263e80","block_type":"box","text":"transactions in which it is also acting as agent","page_number":37,"box":{"x":570,"y":634,"width":353,"height":11}},{"id":"4c91d7ca-7809-4a37-b093-b47313d78265","block_type":"box","text":"for the account of other clients of itself;","page_number":37,"box":{"x":570,"y":648,"width":286,"height":10}},{"id":"03e86453-3964-40e8-927f-cf324a418dfd","block_type":"box","text":"(v) may deal in investments and/or currencies as","page_number":37,"box":{"x":524,"y":673,"width":399,"height":12}},{"id":"f1308003-b4da-4220-9ef7-1f2772848024","block_type":"box","text":"principal with the Scheme or any of its","page_number":37,"box":{"x":571,"y":687,"width":352,"height":11}},{"id":"bd79090c-685b-42e9-a095-bcb7701d78f5","block_type":"box","text":"Unitholders;","page_number":37,"box":{"x":572,"y":701,"width":86,"height":10}},{"id":"9e313a4a-68eb-4ce2-8d22-77aad31aadee","block_type":"box","text":"(vi) transacts in units or shares of another collective","page_number":37,"box":{"x":524,"y":726,"width":399,"height":11}},{"id":"075179f5-2c3f-487e-aa3f-22163bf51608","block_type":"box","text":"investment scheme or any company of which","page_number":37,"box":{"x":571,"y":740,"width":351,"height":11}},{"id":"cbfe229b-2517-4783-893c-9756e20488d9","block_type":"box","text":"any Aviva Group company is the manager,","page_number":37,"box":{"x":571,"y":753,"width":351,"height":12}},{"id":"ab10decf-4367-44d2-8d83-d3a7126dc32a","block_type":"box","text":"operator, banker, adviser or trustee; or","page_number":37,"box":{"x":571,"y":767,"width":286,"height":11}},{"id":"fb7d510e-3e9f-4f5e-ae85-00d179cb9d25","block_type":"box","text":"(vii) may effect transactions for the Scheme","page_number":37,"box":{"x":524,"y":793,"width":399,"height":11}},{"id":"c0f28e52-9bca-4f61-a6ce-0640cce6cd6e","block_type":"box","text":"involving placings and/or new issues with","page_number":37,"box":{"x":571,"y":806,"width":351,"height":12}},{"id":"28668451-4beb-4e06-8fea-9feacf2708c4","block_type":"box","text":"another of its group companies which may be","page_number":37,"box":{"x":571,"y":820,"width":352,"height":11}},{"id":"809f06bd-061c-4b70-b15a-4d5c18925663","block_type":"box","text":"acting as principal or receiving agent's","page_number":37,"box":{"x":571,"y":834,"width":352,"height":11}},{"id":"b3c5f0e8-a6a4-4150-8dd8-e0ce0c78f7ba","block_type":"box","text":"commission.","page_number":37,"box":{"x":571,"y":848,"width":91,"height":8}},{"id":"b19353d4-d2e7-4e52-bede-896dc69bba92","block_type":"box","text":"Additionally, potential conflicts of interest may arise","page_number":37,"box":{"x":523,"y":873,"width":400,"height":11}},{"id":"094dd08a-9a0d-4726-afa1-06ff408f9092","block_type":"box","text":"because the ACS Manager itself, a director or an","page_number":37,"box":{"x":524,"y":886,"width":398,"height":12}},{"id":"c1a574d7-2340-46d1-b90b-8a35b2f48417","block_type":"box","text":"employee of the ACS Manager, or a person linked by","page_number":37,"box":{"x":523,"y":900,"width":400,"height":11}},{"id":"9bbd7e35-ad5e-4c76-ac0d-dbff48e670cf","block_type":"box","text":"control (including a delegate) to the ACS Manager:","page_number":37,"box":{"x":523,"y":914,"width":375,"height":11}},{"id":"335a7af9-7d1d-4180-8266-cd45a0f4bbc8","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 38","page_number":38,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"7da3641e-f96b-404f-a140-5cc05e3f6475","block_type":"box","text":"(i) is likely to make a financial gain (or avoid a loss)","page_number":38,"box":{"x":63,"y":46,"width":398,"height":11}},{"id":"c58cfbe2-93f0-4f85-b522-d9ecaf0a2e4e","block_type":"box","text":"at the expense of the Scheme or a client or","page_number":38,"box":{"x":110,"y":59,"width":352,"height":11}},{"id":"56ec1326-4fe3-49a3-b968-b4bd5ea36957","block_type":"box","text":"group of clients or an Unitholder in the Scheme","page_number":38,"box":{"x":110,"y":73,"width":351,"height":11}},{"id":"47d4d67d-9ad3-4e85-ba79-80b0a6735367","block_type":"box","text":"that is contrary to the interest of that Unitholder","page_number":38,"box":{"x":109,"y":87,"width":353,"height":11}},{"id":"fea496ea-e091-4983-9b81-0836b955ff9b","block_type":"box","text":"or that Scheme;","page_number":38,"box":{"x":110,"y":100,"width":116,"height":11}},{"id":"2c97371d-a908-4d92-85c2-7dec14f7bee8","block_type":"box","text":"(ii) has a financial or other incentive to favour the","page_number":38,"box":{"x":63,"y":126,"width":398,"height":11}},{"id":"8f105ff3-4109-4473-a126-ff2e3350ba3c","block_type":"box","text":"interest of one Unitholder in the Scheme or a","page_number":38,"box":{"x":110,"y":139,"width":352,"height":9}},{"id":"04c1c585-8cd1-48e2-91fa-c0263232d48a","block_type":"box","text":"client or group of clients over another;","page_number":38,"box":{"x":110,"y":153,"width":278,"height":11}},{"id":"72334b4b-7b1e-42d0-82d4-13ea18723624","block_type":"box","text":"(iii) has an interest in the outcome of a","page_number":38,"box":{"x":63,"y":179,"width":399,"height":11}},{"id":"096e84ab-ead9-4c08-aedb-e2feebb934fc","block_type":"box","text":"service/activity provided to the Scheme or its","page_number":38,"box":{"x":110,"y":192,"width":351,"height":12}},{"id":"22d93846-fd81-4b54-a13a-5729fb15d8b6","block_type":"box","text":"Unitholders or a client or of a transaction carried","page_number":38,"box":{"x":110,"y":206,"width":351,"height":9}},{"id":"77578fc3-0124-4d96-acb5-405924644da6","block_type":"box","text":"out on behalf of the Scheme or a client or a","page_number":38,"box":{"x":110,"y":220,"width":352,"height":9}},{"id":"5fa317f4-8e4f-4540-b4d6-77d350cf7bba","block_type":"box","text":"Unitholder, which is distinct from the Scheme's","page_number":38,"box":{"x":110,"y":233,"width":351,"height":11}},{"id":"dfe13371-e4e4-4028-91b3-def8e70aef7f","block_type":"box","text":"interest in that outcome; or","page_number":38,"box":{"x":110,"y":247,"width":198,"height":10}},{"id":"00ea7128-e3d4-4edb-8f04-3b9ee62e9c07","block_type":"box","text":"(iv) carries out the same activities for the Scheme","page_number":38,"box":{"x":63,"y":272,"width":398,"height":12}},{"id":"451b9eea-3e75-4db5-b3d8-af243ab99877","block_type":"box","text":"as it does for another fund, client or clients which","page_number":38,"box":{"x":110,"y":286,"width":351,"height":11}},{"id":"3c39bea5-c747-4b8b-99a2-f6c97dedf08a","block_type":"box","text":"are not funds.","page_number":38,"box":{"x":110,"y":300,"width":100,"height":9}},{"id":"46913b18-d417-49f3-a7b6-1835e4a30987","block_type":"box","text":"(c)","page_number":38,"box":{"x":67,"y":325,"width":18,"height":11}},{"id":"44b920eb-18a0-4245-b27b-c10e72d51c2d","block_type":"box","text":"Execution of transactions","page_number":38,"box":{"x":110,"y":325,"width":204,"height":9}},{"id":"5eb356f8-0325-448c-80fb-4b0a77540314","block_type":"box","text":"The ACS Manager must act in the best interests of","page_number":38,"box":{"x":62,"y":351,"width":400,"height":11}},{"id":"7bd3d537-047b-4d99-95e1-3d6430116dd4","block_type":"box","text":"each Sub-Fund when executing decisions to deal on","page_number":38,"box":{"x":62,"y":364,"width":399,"height":12}},{"id":"b6d75488-1282-4503-b40e-df6eda829894","block_type":"box","text":"behalf of the relevant Sub-Fund. The ACS Manager is","page_number":38,"box":{"x":62,"y":378,"width":399,"height":11}},{"id":"97520cc8-eea5-4d04-8d09-f475db463ede","block_type":"box","text":"also required to have an order execution policy in place","page_number":38,"box":{"x":62,"y":392,"width":399,"height":11}},{"id":"02c231ce-2f5b-4d89-b638-b41b6db3a506","block_type":"box","text":"detailing (i) the systems and controls that have been","page_number":38,"box":{"x":62,"y":406,"width":399,"height":11}},{"id":"b6c84dc4-30bb-43d7-b677-b1c4fd642577","block_type":"box","text":"put in place and (ii) how the ACS Manager will act in","page_number":38,"box":{"x":62,"y":419,"width":399,"height":11}},{"id":"b7630c44-9ec5-4a70-85cf-f27a93d16f5b","block_type":"box","text":"line with the best interests of the Scheme and the Sub","page_number":38,"box":{"x":62,"y":433,"width":399,"height":9}},{"id":"e6b375b4-d5c2-4cce-9c68-e7085afed1dd","block_type":"box","text":"Funds whilst complying with its obligations to obtain","page_number":38,"box":{"x":63,"y":447,"width":398,"height":11}},{"id":"7c482cf6-434c-4e7a-8551-422b5a63c413","block_type":"box","text":"the best possible result, when it directly executes an","page_number":38,"box":{"x":62,"y":460,"width":399,"height":11}},{"id":"d5adf199-91cb-4349-b412-c929286ec3d7","block_type":"box","text":"order, places an order with, or transmits an order to,","page_number":38,"box":{"x":62,"y":474,"width":398,"height":11}},{"id":"c557e126-d120-4af0-891d-7dd0f0b6c1f5","block_type":"box","text":"another entity for execution. Copies of the ACS","page_number":38,"box":{"x":62,"y":487,"width":399,"height":12}},{"id":"e42762da-144d-4eed-b880-69888a2e0e44","block_type":"box","text":"Manager’s order execution policy and of the","page_number":38,"box":{"x":63,"y":501,"width":398,"height":11}},{"id":"4a862ed2-7e9d-4d3d-a963-189c6cac2c53","block_type":"box","text":"Investment Manager’s order execution policy which","page_number":38,"box":{"x":63,"y":515,"width":398,"height":11}},{"id":"497506f8-b560-4630-8b65-ef22ddc64ea3","block_type":"box","text":"the ACS Manager relies on, are available from the","page_number":38,"box":{"x":62,"y":528,"width":399,"height":12}},{"id":"38504f42-8414-4e61-9c2d-f94402cfef7f","block_type":"box","text":"ACS Manager on request. If you have any questions","page_number":38,"box":{"x":62,"y":542,"width":399,"height":11}},{"id":"5aca52fa-1a4f-41a7-a32d-d1318c939b65","block_type":"box","text":"regarding the policy please contact the ACS Manager.","page_number":38,"box":{"x":63,"y":556,"width":397,"height":11}},{"id":"19ece750-08dd-4c8e-8aef-cd609fafcc5b","block_type":"box","text":"Securities may be held by, or be an appropriate","page_number":38,"box":{"x":62,"y":581,"width":399,"height":11}},{"id":"73eecaee-1e41-4db5-8939-838150f3c607","block_type":"box","text":"investment for, the Scheme as well as by or for the","page_number":38,"box":{"x":62,"y":595,"width":399,"height":11}},{"id":"faa66ae3-35d3-4cbe-b825-156bbaaffb65","block_type":"box","text":"ACS Manager's other clients, clients of the Investment","page_number":38,"box":{"x":62,"y":609,"width":400,"height":11}},{"id":"939e98ae-a40a-4554-aceb-74f39ea19ad2","block_type":"box","text":"Managers or other companies in the Aviva Group.","page_number":38,"box":{"x":63,"y":622,"width":398,"height":11}},{"id":"e71a582b-b823-4692-a42f-3414a8203b00","block_type":"box","text":"Because of different objectives or other factors, a","page_number":38,"box":{"x":63,"y":636,"width":399,"height":11}},{"id":"e6fdb42e-2e7a-44a3-89b3-51d5fc3205b8","block_type":"box","text":"particular security may be bought for one or more such","page_number":38,"box":{"x":62,"y":650,"width":399,"height":11}},{"id":"8bcade79-2d0f-40f4-86f4-c8686e566401","block_type":"box","text":"clients, when other clients are selling the same","page_number":38,"box":{"x":62,"y":663,"width":399,"height":12}},{"id":"c79c8388-6631-4f91-b228-d7c2999538e9","block_type":"box","text":"security. If purchases or sales of securities for the","page_number":38,"box":{"x":62,"y":677,"width":399,"height":11}},{"id":"023d1d4a-caf7-4533-b5a8-059e0e369afb","block_type":"box","text":"Scheme or such clients arise for consideration at or","page_number":38,"box":{"x":62,"y":691,"width":400,"height":8}},{"id":"5b6ff4b1-bbdb-42ba-8ffc-48a6c27e1aa4","block_type":"box","text":"about the same time, such transactions will be made,","page_number":38,"box":{"x":62,"y":704,"width":399,"height":11}},{"id":"bef175fe-9c1c-4f41-b355-13a3407f7b0c","block_type":"box","text":"insofar as feasible, for the relevant clients in a manner","page_number":38,"box":{"x":62,"y":718,"width":400,"height":10}},{"id":"a8ccca14-d4c2-4a1a-82c2-50cbfc67cef7","block_type":"box","text":"deemed equitable to all.","page_number":38,"box":{"x":62,"y":732,"width":176,"height":11}},{"id":"7b92fa57-3b8f-4a25-9e28-acebae790794","block_type":"box","text":"Establishing, holding or unwinding opposite positions","page_number":38,"box":{"x":63,"y":757,"width":398,"height":11}},{"id":"0a0dcd96-769a-47c3-85fe-405533df6f3c","block_type":"box","text":"(i.e. long and short) in the same security at the same","page_number":38,"box":{"x":63,"y":771,"width":398,"height":11}},{"id":"a0abbd92-46f5-4b1e-b024-44e8ef821da8","block_type":"box","text":"time for different clients may prejudice the interests of","page_number":38,"box":{"x":62,"y":784,"width":400,"height":12}},{"id":"9938bfa7-fa05-4d0b-8399-f101aee9c5c1","block_type":"box","text":"clients on one side or the other and may pose a conflict","page_number":38,"box":{"x":62,"y":798,"width":400,"height":11}},{"id":"c2c1b8ed-73db-4602-9442-0f470fde866b","block_type":"box","text":"of interest particularly if the ACS Manager or the","page_number":38,"box":{"x":62,"y":812,"width":399,"height":11}},{"id":"b5219e5c-07b0-4fd0-ab19-bbfa454bda05","block_type":"box","text":"Investment Managers involved may earn higher","page_number":38,"box":{"x":63,"y":825,"width":399,"height":12}},{"id":"45e637d8-2624-43b2-981a-45d68415c2ed","block_type":"box","text":"compensation from one activity than from the other.","page_number":38,"box":{"x":62,"y":839,"width":398,"height":11}},{"id":"ce2d0e5f-3c40-49ef-b589-40e2cb955bc2","block_type":"box","text":"This activity may occur as a result of different portfolio","page_number":38,"box":{"x":62,"y":853,"width":399,"height":11}},{"id":"c60bac7a-c854-4fb4-867d-bb163b7a4818","block_type":"box","text":"management teams taking different views of a","page_number":38,"box":{"x":62,"y":866,"width":400,"height":12}},{"id":"84487042-b3a7-49a1-b719-a17d050d4514","block_type":"box","text":"particular security or in the course of implementing risk","page_number":38,"box":{"x":62,"y":880,"width":400,"height":11}},{"id":"39fc3d1c-bc33-4b4c-8772-368160171c4a","block_type":"box","text":"management strategies, and special policies and","page_number":38,"box":{"x":62,"y":894,"width":399,"height":11}},{"id":"7c9f1cb0-18a6-4c7b-91ac-c612c4c25371","block_type":"box","text":"procedures are not generally utilised in these","page_number":38,"box":{"x":524,"y":46,"width":399,"height":11}},{"id":"bc142582-0b62-47f4-a06f-9f5758631e22","block_type":"box","text":"situations.","page_number":38,"box":{"x":523,"y":60,"width":74,"height":8}},{"id":"9805c7f6-e493-4aca-bc56-6560bc7a16bf","block_type":"box","text":"This activity may also occur within the same portfolio","page_number":38,"box":{"x":523,"y":85,"width":400,"height":11}},{"id":"8e119e04-558d-4202-bd3d-4ea660991d5e","block_type":"box","text":"management team as a result of the team having both","page_number":38,"box":{"x":524,"y":99,"width":398,"height":11}},{"id":"a30d6a70-b86b-49e3-9a82-70475c023760","block_type":"box","text":"long only mandates and long-short or short only","page_number":38,"box":{"x":524,"y":112,"width":399,"height":12}},{"id":"4a43b612-76a8-490b-ba2c-2a1771a087c7","block_type":"box","text":"mandates or in the course of implementing risk","page_number":38,"box":{"x":524,"y":126,"width":399,"height":11}},{"id":"cebc7371-0024-4e45-95c2-26d0cf3d2ebf","block_type":"box","text":"management strategies. Where the same portfolio","page_number":38,"box":{"x":524,"y":140,"width":399,"height":11}},{"id":"e05d7f53-e48f-4045-bddc-9acc856c16df","block_type":"box","text":"management team has such mandates, shorting a","page_number":38,"box":{"x":524,"y":153,"width":399,"height":11}},{"id":"e27e56d4-d127-4e83-b682-fa5a477fadb3","block_type":"box","text":"security in some portfolios that is held long in other","page_number":38,"box":{"x":523,"y":167,"width":400,"height":11}},{"id":"4a8b5b95-7c95-4a2f-841d-66ecc2924e72","block_type":"box","text":"portfolios or establishing a long position in a security in","page_number":38,"box":{"x":524,"y":181,"width":398,"height":11}},{"id":"d669c7c1-039e-44ad-a618-8a5747df4625","block_type":"box","text":"some portfolios that is held short in other portfolios","page_number":38,"box":{"x":523,"y":194,"width":400,"height":11}},{"id":"9b3370b9-2b2c-4b63-9911-b0c6cd683c18","block_type":"box","text":"may be done only in accordance with established","page_number":38,"box":{"x":524,"y":208,"width":398,"height":11}},{"id":"5d42809f-096d-417c-aa43-3da39e5e1f03","block_type":"box","text":"procedures designed to ensure the presence of","page_number":38,"box":{"x":524,"y":221,"width":399,"height":12}},{"id":"b748c83e-5a3d-4cbe-ab55-78fed856d8db","block_type":"box","text":"appropriate fiduciary rationale and to achieve","page_number":38,"box":{"x":523,"y":235,"width":400,"height":11}},{"id":"a8c65834-0908-4447-92e4-9f443b75e1c4","block_type":"box","text":"execution of opposing transactions in a manner that","page_number":38,"box":{"x":523,"y":249,"width":400,"height":11}},{"id":"99e8d079-65fb-47b6-a03e-089dfb6ff2dc","block_type":"box","text":"does not systematically advantage or disadvantage","page_number":38,"box":{"x":523,"y":263,"width":400,"height":11}},{"id":"2aff9fdd-1c2d-459f-8ff9-1e26a77d2205","block_type":"box","text":"any particular set of clients. Aviva Group compliance","page_number":38,"box":{"x":523,"y":276,"width":400,"height":11}},{"id":"af201836-60d2-449b-8c18-808dd94941dc","block_type":"box","text":"team monitors compliance with these policies and","page_number":38,"box":{"x":523,"y":290,"width":399,"height":11}},{"id":"403cccb4-1c69-4d89-9ee5-73b87bb4a0ab","block_type":"box","text":"procedures and may require their modification or","page_number":38,"box":{"x":524,"y":303,"width":399,"height":12}},{"id":"b48736ea-5298-47df-b5f5-4f62036bfc60","block_type":"box","text":"termination of certain activities to minimise conflicts.","page_number":38,"box":{"x":523,"y":317,"width":399,"height":9}},{"id":"37473a2c-fbe2-4044-a72a-90b539defa8f","block_type":"box","text":"Exceptions to these procedures must be approved.","page_number":38,"box":{"x":524,"y":331,"width":376,"height":11}},{"id":"69ce0820-1ea9-4423-b8d4-11af1955b0b0","block_type":"box","text":"The rationales that may justify taking opposite","page_number":38,"box":{"x":523,"y":356,"width":400,"height":12}},{"id":"2180c271-81df-4ade-ac35-79a3a7d2fe07","block_type":"box","text":"positions in the same security at the same time may","page_number":38,"box":{"x":524,"y":370,"width":399,"height":11}},{"id":"280a9340-9296-436b-a2ee-eac16fe248c7","block_type":"box","text":"include, without limitation, the following: (i) differing","page_number":38,"box":{"x":524,"y":384,"width":398,"height":11}},{"id":"34e1545e-f2f8-459d-8a22-5cfa6923c78d","block_type":"box","text":"views as to the short-term and long-term performance","page_number":38,"box":{"x":523,"y":397,"width":400,"height":11}},{"id":"cf285623-56f2-4dad-9129-2c573ab4dac7","block_type":"box","text":"of a security, as a result of which it may be","page_number":38,"box":{"x":523,"y":411,"width":400,"height":11}},{"id":"c02f472c-b48d-442e-9be3-5a03333a5ca0","block_type":"box","text":"inappropriate for long only accounts to sell the security","page_number":38,"box":{"x":524,"y":425,"width":399,"height":11}},{"id":"e4ce6686-9597-4bba-aeba-2b5a1aa2480c","block_type":"box","text":"but may be appropriate for short-term oriented","page_number":38,"box":{"x":524,"y":438,"width":398,"height":11}},{"id":"5e341859-ef6a-4e58-a135-889731f62987","block_type":"box","text":"accounts that have a shorting mandate to short the","page_number":38,"box":{"x":523,"y":452,"width":400,"height":11}},{"id":"0fbc33f5-2e86-4db7-b804-c48a5486845d","block_type":"box","text":"security over the near term; and (ii) to neutralise the","page_number":38,"box":{"x":523,"y":466,"width":400,"height":11}},{"id":"6ed1acbb-0c63-44cb-9059-a69df5013ab0","block_type":"box","text":"effect of the performance of a particular segment of","page_number":38,"box":{"x":523,"y":479,"width":400,"height":11}},{"id":"150207b7-8fe0-4740-936a-f50154aea509","block_type":"box","text":"one company's business by taking the opposite","page_number":38,"box":{"x":523,"y":493,"width":400,"height":11}},{"id":"07d15151-845d-49f2-a9aa-eb319c31ef66","block_type":"box","text":"position in another company whose business is","page_number":38,"box":{"x":524,"y":507,"width":399,"height":11}},{"id":"61670a75-fda0-44a9-941f-ceb620a26e71","block_type":"box","text":"substantially similar to that of the segment in question.","page_number":38,"box":{"x":523,"y":520,"width":399,"height":11}},{"id":"48e2bcfe-697c-41a0-84ec-5421ca8bc989","block_type":"box","text":"In certain cases efforts to effectively manage these","page_number":38,"box":{"x":524,"y":546,"width":399,"height":11}},{"id":"10a5488a-1c4d-4ec8-bb71-c49ad5277da0","block_type":"box","text":"conflicts may result in a loss of investment opportunity","page_number":38,"box":{"x":523,"y":559,"width":400,"height":12}},{"id":"bb4f5b28-9aa2-42b7-a099-0f348ce49db8","block_type":"box","text":"for its clients or may cause it to trade in a manner that","page_number":38,"box":{"x":523,"y":573,"width":400,"height":11}},{"id":"95883bca-b299-4c64-be09-3af405d2064c","block_type":"box","text":"is different from how it would trade if these conflicts","page_number":38,"box":{"x":524,"y":587,"width":399,"height":8}},{"id":"f1f512e0-b5b5-48b4-81c3-42534fff1db4","block_type":"box","text":"were not present, which may negatively impact","page_number":38,"box":{"x":523,"y":600,"width":400,"height":12}},{"id":"3e94756a-4327-4e74-9ecc-eeef549929a1","block_type":"box","text":"investment performance.","page_number":38,"box":{"x":524,"y":614,"width":182,"height":11}},{"id":"5e96611b-9db2-4aa1-8f1f-a5b4533653b2","block_type":"box","text":"The investment activities of the Aviva Group for its own","page_number":38,"box":{"x":523,"y":639,"width":399,"height":12}},{"id":"0485a259-da81-4298-ac6f-fd7c7bd8508f","block_type":"box","text":"account may limit the investment strategies that can be","page_number":38,"box":{"x":523,"y":653,"width":400,"height":11}},{"id":"b7facdd2-c3c3-4f3f-b92a-0e875b62acd7","block_type":"box","text":"conducted on behalf of the Scheme by the Investment","page_number":38,"box":{"x":523,"y":667,"width":400,"height":11}},{"id":"0f10ee95-0786-48c4-8c48-f30e7c612f87","block_type":"box","text":"Managers as a result of aggregation limits. For","page_number":38,"box":{"x":524,"y":681,"width":399,"height":11}},{"id":"d8966726-1148-45ed-9e7f-6b7f70590254","block_type":"box","text":"example, the definition of corporate and regulatory","page_number":38,"box":{"x":523,"y":694,"width":400,"height":11}},{"id":"87819b60-7d65-47f3-98b6-2879b903d25a","block_type":"box","text":"ownership of regulated industries in certain markets","page_number":38,"box":{"x":523,"y":708,"width":400,"height":11}},{"id":"c0f8f809-622f-4cb7-a1c7-996ef276fd1f","block_type":"box","text":"may impose limits on the aggregate amount of","page_number":38,"box":{"x":524,"y":721,"width":399,"height":12}},{"id":"e0bcca7b-31eb-448b-954e-5cb857a43dd4","block_type":"box","text":"investment by affiliated Unitholders that may not be","page_number":38,"box":{"x":524,"y":735,"width":399,"height":11}},{"id":"92ac8f5b-db97-47e3-9e2c-4f23b90fb4c1","block_type":"box","text":"exceeded. Exceeding these limits without the grant of","page_number":38,"box":{"x":523,"y":749,"width":400,"height":11}},{"id":"9da5327c-fc2a-46d2-b1cf-c8f47c19d43e","block_type":"box","text":"a licence or other regulatory or corporate consent may","page_number":38,"box":{"x":523,"y":763,"width":400,"height":11}},{"id":"8c33899f-fbbd-44fe-8080-32e9f720ff12","block_type":"box","text":"cause the Aviva Group and the Scheme to suffer","page_number":38,"box":{"x":523,"y":776,"width":400,"height":11}},{"id":"edc43788-3574-4b97-b09e-9a0a6af74440","block_type":"box","text":"disadvantages or business restrictions. If such","page_number":38,"box":{"x":523,"y":790,"width":399,"height":11}},{"id":"dba53975-c3e8-4659-a284-c4bf1f0895d9","block_type":"box","text":"aggregate ownership limits are reached, the ability of","page_number":38,"box":{"x":523,"y":803,"width":400,"height":12}},{"id":"2aa6de57-bba1-46c0-af83-e68df2ab6e3d","block_type":"box","text":"the Scheme to purchase or dispose of investments or","page_number":38,"box":{"x":523,"y":817,"width":400,"height":11}},{"id":"885ba08b-a52f-4243-bceb-9bfbcf8d139f","block_type":"box","text":"exercise rights may be restricted by regulation or","page_number":38,"box":{"x":523,"y":831,"width":400,"height":11}},{"id":"7f59aa39-9aaa-4a30-8912-6bd0047483c8","block_type":"box","text":"otherwise impaired. As a result the Investment","page_number":38,"box":{"x":523,"y":845,"width":400,"height":10}},{"id":"0ef592f3-2263-4eb6-b55c-04b863e12222","block_type":"box","text":"Managers on behalf of the Scheme may limit","page_number":38,"box":{"x":524,"y":858,"width":399,"height":11}},{"id":"8797e43d-c3cd-4ed1-9c2e-16f00c1dd4d3","block_type":"box","text":"purchases, sell existing investments or otherwise","page_number":38,"box":{"x":524,"y":872,"width":399,"height":11}},{"id":"70298e3d-cfa8-4e51-b595-f5c44971cf9f","block_type":"box","text":"restrict or limit the exercise of rights (including voting","page_number":38,"box":{"x":524,"y":885,"width":398,"height":12}},{"id":"f4a7c256-1a38-437e-a312-e049b6a6f760","block_type":"box","text":"rights) in light of potential regulatory restrictions on","page_number":38,"box":{"x":524,"y":899,"width":398,"height":11}},{"id":"c42df4a0-2951-4267-a941-844b6f2f04de","block_type":"box","text":"ownership or other restrictions resulting from reaching","page_number":38,"box":{"x":523,"y":913,"width":399,"height":11}},{"id":"bc37b7c2-4c14-4aa6-92e2-a9415555c9ae","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 39","page_number":39,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"f5ddee98-8a61-45b3-a8aa-a9f9f3d14f80","block_type":"box","text":"investment thresholds. As a consequence, a Scheme's","page_number":39,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"eecb6f88-3f3a-4fe9-b9db-ead5dd4945b5","block_type":"box","text":"ability to provide returns that reflect the performance of","page_number":39,"box":{"x":62,"y":59,"width":400,"height":12}},{"id":"94901fce-1892-4fc2-9b13-ba2e48eff0f1","block_type":"box","text":"the relevant benchmark index may be affected.","page_number":39,"box":{"x":62,"y":73,"width":347,"height":11}},{"id":"e775787e-9daf-4ceb-844e-14c84b4f30d9","block_type":"box","text":"(d)","page_number":39,"box":{"x":63,"y":99,"width":18,"height":11}},{"id":"f027b2af-0ca7-402f-9537-257c0cbc9f6d","block_type":"box","text":"Additional Conflicts of Interest in the","page_number":39,"box":{"x":109,"y":99,"width":353,"height":8}},{"id":"1487437a-09a9-40c6-943b-3cb1f1984baf","block_type":"box","text":"Context of Delegation","page_number":39,"box":{"x":62,"y":112,"width":172,"height":11}},{"id":"370471ef-4cbb-40ec-94a0-cf551d9a9167","block_type":"box","text":"In addition to the conflicts described above, conflicts","page_number":39,"box":{"x":63,"y":138,"width":398,"height":10}},{"id":"b346968d-9002-4370-9f77-faa3684fd87d","block_type":"box","text":"may arise between the interests of the ACS Manager","page_number":39,"box":{"x":62,"y":151,"width":400,"height":12}},{"id":"d809c510-cea0-4dd8-8113-42e115f87334","block_type":"box","text":"and its permitted delegates in certain circumstances,","page_number":39,"box":{"x":62,"y":165,"width":399,"height":11}},{"id":"cf446765-5d6e-4936-80af-dcb079e5361a","block_type":"box","text":"for example, where there is likelihood that: (i) the","page_number":39,"box":{"x":62,"y":179,"width":399,"height":11}},{"id":"e2876ac5-9bb0-4214-a9d4-ca8d1935564b","block_type":"box","text":"delegate and a Unitholder in a Scheme are members","page_number":39,"box":{"x":62,"y":192,"width":399,"height":12}},{"id":"eb1f19d5-74a1-4bec-841e-2f6bdd7eee0f","block_type":"box","text":"of the same group or have any other contractual","page_number":39,"box":{"x":62,"y":206,"width":399,"height":11}},{"id":"b1ca7399-ab30-4265-86ac-0e5f963c40b9","block_type":"box","text":"relationship, if the Unitholder controls the delegate or","page_number":39,"box":{"x":63,"y":220,"width":399,"height":11}},{"id":"090912f2-58bc-4ada-af3d-2960a564bca4","block_type":"box","text":"has the ability to influence its actions (in such cases","page_number":39,"box":{"x":62,"y":233,"width":399,"height":11}},{"id":"219a8992-5e8d-418f-babb-815650b87dd9","block_type":"box","text":"the likelihood of conflict is likely to increase the greater","page_number":39,"box":{"x":62,"y":247,"width":400,"height":11}},{"id":"7e83c5a3-f1af-4a0f-966a-1b6c9c52ea27","block_type":"box","text":"the extent of such control); (ii) the delegate makes a","page_number":39,"box":{"x":62,"y":261,"width":400,"height":11}},{"id":"82bc6aff-3b88-4145-b2e4-b0b115777932","block_type":"box","text":"financial gain, or avoids a financial loss, at the expense","page_number":39,"box":{"x":62,"y":274,"width":399,"height":12}},{"id":"357146ce-b047-4d48-aa97-76d89830f508","block_type":"box","text":"of the Scheme or the Unitholders in that Scheme; (iii)","page_number":39,"box":{"x":62,"y":288,"width":399,"height":11}},{"id":"2b005dcb-4d8a-468f-a474-83e1d296ac36","block_type":"box","text":"the delegate has an interest in the outcome of a","page_number":39,"box":{"x":62,"y":302,"width":400,"height":11}},{"id":"d8af0c74-e94b-49f7-a769-4c7690a3363f","block_type":"box","text":"service or an activity provided to the ACS Manager or","page_number":39,"box":{"x":62,"y":315,"width":400,"height":11}},{"id":"98708211-d11d-4dbf-ab6b-0065dead762a","block_type":"box","text":"the Scheme; (iv) the delegate has a financial or other","page_number":39,"box":{"x":62,"y":329,"width":400,"height":11}},{"id":"991ee061-a50c-42f5-b220-1836e69ca77f","block_type":"box","text":"incentive to favour the interest of another client over","page_number":39,"box":{"x":62,"y":343,"width":400,"height":8}},{"id":"03a118a0-84ee-4eaf-b1ab-355dcd036a31","block_type":"box","text":"the interests of the Scheme or the Unitholders in that","page_number":39,"box":{"x":62,"y":356,"width":400,"height":9}},{"id":"89c525cd-1d3f-4696-bce9-29e7b4a1388a","block_type":"box","text":"Scheme; (v) the delegate receives or will receive from","page_number":39,"box":{"x":62,"y":370,"width":399,"height":11}},{"id":"9d140a7e-e869-4ef6-9db8-f7f3a1113392","block_type":"box","text":"a person other than the ACS Manager an inducement","page_number":39,"box":{"x":62,"y":384,"width":400,"height":11}},{"id":"08f970cc-34fa-45f2-b7e2-03c2f753eae8","block_type":"box","text":"in relation to the collective portfolio management","page_number":39,"box":{"x":62,"y":397,"width":400,"height":11}},{"id":"513baba5-a9a3-4f9a-820d-7f285375628c","block_type":"box","text":"activities provided to the ACS Manager and the","page_number":39,"box":{"x":62,"y":411,"width":399,"height":11}},{"id":"9edba486-f2d6-4461-add9-e9c0f8406a19","block_type":"box","text":"Scheme in the form of monies, goods or services other","page_number":39,"box":{"x":62,"y":424,"width":400,"height":12}},{"id":"5207345d-f640-49cd-8e75-b2ab3a3486ad","block_type":"box","text":"than the standard commission or fee for that service.","page_number":39,"box":{"x":62,"y":438,"width":389,"height":9}},{"id":"cb43eaa0-c3b9-42ca-83fa-71f1492d8bfa","block_type":"box","text":"Any conflict that may arise from the ACS Manager’s","page_number":39,"box":{"x":62,"y":464,"width":399,"height":11}},{"id":"55083f76-f7df-4c49-9d23-006897b4e81a","block_type":"box","text":"delegation of securities lending to the Securities","page_number":39,"box":{"x":62,"y":477,"width":399,"height":12}},{"id":"3ebe0671-b6d0-44f8-8cfa-1a2bb6695907","block_type":"box","text":"Lending Agent is managed, in addition to the","page_number":39,"box":{"x":63,"y":491,"width":398,"height":11}},{"id":"31834f6c-c6f3-4d16-aca4-808067923a9a","block_type":"box","text":"measures identified in this section 29, by the","page_number":39,"box":{"x":62,"y":505,"width":399,"height":11}},{"id":"20e65843-cb52-40b0-a8a0-2694230335e8","block_type":"box","text":"appointment of the Securities Lending Agent on","page_number":39,"box":{"x":62,"y":518,"width":399,"height":12}},{"id":"ff3a4c55-740a-43da-aaf0-f69728ff8f79","block_type":"box","text":"normal commercial terms negotiated at arm’s length.","page_number":39,"box":{"x":62,"y":532,"width":389,"height":11}},{"id":"87a54f62-8915-4c7f-b6e4-afe4512d9d72","block_type":"box","text":"The Aviva Group has written policies and procedures","page_number":39,"box":{"x":62,"y":552,"width":399,"height":11}},{"id":"2165a177-6938-4aa0-9768-abf974ad94e1","block_type":"box","text":"in place to monitor the conflicts of interest that may","page_number":39,"box":{"x":62,"y":565,"width":400,"height":11}},{"id":"f8afc340-4884-4909-94da-5b2910dcfe30","block_type":"box","text":"arise in the context of the ACS Manager's delegation","page_number":39,"box":{"x":62,"y":579,"width":399,"height":11}},{"id":"7b06bd52-9ed9-41a2-a316-86b8dbf44573","block_type":"box","text":"of certain of its functions. To the extent any actual","page_number":39,"box":{"x":62,"y":593,"width":399,"height":11}},{"id":"55ca3678-35d6-484c-b09d-d4f626d712b0","block_type":"box","text":"conflicts of interest are determined to have arisen, the","page_number":39,"box":{"x":62,"y":606,"width":399,"height":11}},{"id":"ad20aaca-bbc6-4035-9522-da2baf8b9666","block_type":"box","text":"Aviva Group will manage such conflicts to minimise","page_number":39,"box":{"x":62,"y":620,"width":399,"height":11}},{"id":"0cc661c6-e6e6-4dec-8735-724a93f0279a","block_type":"box","text":"any impact on the investment performance, and will","page_number":39,"box":{"x":62,"y":634,"width":399,"height":11}},{"id":"8c73dabf-c3d3-48fd-83b5-a3dc7b56cca8","block_type":"box","text":"also seek to prevent them from reoccurring. Certain","page_number":39,"box":{"x":62,"y":647,"width":399,"height":11}},{"id":"94d86670-e0e9-47bc-aca4-38e36521050f","block_type":"box","text":"activities may be required to be modified or terminated","page_number":39,"box":{"x":62,"y":661,"width":399,"height":11}},{"id":"84c44e80-e242-4ef0-b9d3-43f4eed8a378","block_type":"box","text":"to minimise conflicts of interest which may be identified","page_number":39,"box":{"x":62,"y":675,"width":399,"height":11}},{"id":"7f876287-2520-4651-9367-05a8939480f3","block_type":"box","text":"from time to time.","page_number":39,"box":{"x":62,"y":688,"width":128,"height":9}},{"id":"ee98603e-9ffb-439c-9afe-a972ce3d9af4","block_type":"box","text":"Where a conflict of interest cannot be avoided, the","page_number":39,"box":{"x":62,"y":708,"width":399,"height":10}},{"id":"cca0f000-d00a-40f2-b9bf-62a5223a22bd","block_type":"box","text":"ACS Manager will ensure that the Scheme and the","page_number":39,"box":{"x":62,"y":721,"width":399,"height":12}},{"id":"1959ec2a-dc1e-4765-828b-e792d436dfeb","block_type":"box","text":"other funds it manages are fairly treated.","page_number":39,"box":{"x":62,"y":735,"width":300,"height":11}},{"id":"d08f419e-1587-4f2d-bdaf-8f322a103ceb","block_type":"box","text":"The ACS Manager maintains a written conflict of","page_number":39,"box":{"x":62,"y":761,"width":400,"height":11}},{"id":"29568154-acc0-4382-87e9-5bf753fba6b1","block_type":"box","text":"interest policy. The ACS Manager acknowledges that","page_number":39,"box":{"x":62,"y":774,"width":400,"height":12}},{"id":"69fbe299-5611-4dd8-a2db-984ffe2b8ca5","block_type":"box","text":"there may be some situations where the organisational","page_number":39,"box":{"x":62,"y":788,"width":399,"height":11}},{"id":"35337452-d6cf-492d-a23c-31c75ec967da","block_type":"box","text":"or administrative arrangements in place for the","page_number":39,"box":{"x":62,"y":802,"width":399,"height":11}},{"id":"81726d4e-69df-42af-a557-a0f9bda8e3e4","block_type":"box","text":"management of conflicts of interest are not sufficient to","page_number":39,"box":{"x":62,"y":815,"width":399,"height":11}},{"id":"e3401d68-0818-4602-a0ad-7939826384b0","block_type":"box","text":"ensure, with reasonable confidence, that risks of","page_number":39,"box":{"x":62,"y":829,"width":400,"height":10}},{"id":"4371cc42-efa0-4e8c-8cbd-082710ce2c15","block_type":"box","text":"damage to the interests of the Scheme or its","page_number":39,"box":{"x":62,"y":842,"width":399,"height":12}},{"id":"b9a89127-beb1-41a3-9224-f6efc1a077cd","block_type":"box","text":"Unitholders will be prevented. Should any such","page_number":39,"box":{"x":63,"y":856,"width":398,"height":11}},{"id":"2b33ca98-e823-4020-ac5a-aa056f2d6a32","block_type":"box","text":"situations arise the ACS Manager will, as a last resort","page_number":39,"box":{"x":62,"y":870,"width":400,"height":11}},{"id":"aa8e2059-a42a-4fc5-ae39-182679b9a95e","block_type":"box","text":"if the conflict cannot be avoided","page_number":39,"box":{"x":62,"y":884,"width":257,"height":8}},{"id":"fe7a03c4-30ef-4266-ab62-76276b293a6d","block_type":"box","text":"disclose these to","page_number":39,"box":{"x":328,"y":884,"width":133,"height":8}},{"id":"c17b25f6-398e-4333-9d00-b32ddb067aab","block_type":"box","text":"Unitholders in an appropriate format.","page_number":39,"box":{"x":63,"y":897,"width":270,"height":11}},{"id":"920ffe84-d011-4705-b2fb-6ebc78952705","block_type":"box","text":"(e)","page_number":39,"box":{"x":524,"y":46,"width":18,"height":11}},{"id":"b0b8ad5d-26b2-4e1c-847e-dffe8b0b8dc0","block_type":"box","text":"Service Providers","page_number":39,"box":{"x":549,"y":46,"width":140,"height":9}},{"id":"08566bd9-37d6-4942-b9ef-7258cde6b323","block_type":"box","text":"Certain entities in which a Sub-Fund has an","page_number":39,"box":{"x":523,"y":65,"width":399,"height":9}},{"id":"c09a9ed1-3af9-46c1-98c3-109161206af7","block_type":"box","text":"investment (whether directly or indirectly) may also","page_number":39,"box":{"x":524,"y":79,"width":399,"height":11}},{"id":"142fabdf-d67b-4a39-b146-5f8574edac70","block_type":"box","text":"provide goods or services to, or have a business,","page_number":39,"box":{"x":524,"y":93,"width":398,"height":11}},{"id":"833901f8-9168-4e1f-8fb0-b32bea7f934a","block_type":"box","text":"financial or other relationship with other Sub-Funds of","page_number":39,"box":{"x":523,"y":106,"width":400,"height":11}},{"id":"062d70bc-c9e3-47fb-9b2a-ddf64dfa9285","block_type":"box","text":"the Scheme, ACS Manager, their associates and other","page_number":39,"box":{"x":523,"y":120,"width":400,"height":11}},{"id":"64599e99-02e8-48ac-a8a1-e222646b1422","block_type":"box","text":"funds managed by the ACS Manager or their","page_number":39,"box":{"x":523,"y":134,"width":400,"height":11}},{"id":"78cf98c0-cbc2-4cb2-afa4-d02a7512cb94","block_type":"box","text":"associates. Such entities may also be a source of","page_number":39,"box":{"x":523,"y":147,"width":400,"height":11}},{"id":"393b5ee7-6096-4816-8ee5-0072c9866443","block_type":"box","text":"financing and investment opportunities or co-investors","page_number":39,"box":{"x":523,"y":161,"width":400,"height":11}},{"id":"6a698069-42d4-41a2-86a8-832c1d7c20af","block_type":"box","text":"in investments made by the Sub-Funds (whether","page_number":39,"box":{"x":524,"y":174,"width":399,"height":12}},{"id":"ae96da56-3c6a-4eb9-8ee4-981aff06cdd3","block_type":"box","text":"directly or indirectly) or other funds managed by the","page_number":39,"box":{"x":523,"y":188,"width":400,"height":11}},{"id":"887f5e35-f2e4-42bd-866c-b37c3df70f48","block_type":"box","text":"ACS Manager or their associates. These relationships","page_number":39,"box":{"x":523,"y":202,"width":400,"height":11}},{"id":"b034cce8-3392-475d-871b-3faa61ec9483","block_type":"box","text":"may influence the ACS manager or their associates in","page_number":39,"box":{"x":524,"y":215,"width":398,"height":12}},{"id":"acac4c30-d5e3-461a-ad37-a74cd6cf6f6b","block_type":"box","text":"deciding whether to select or recommend a supplier of","page_number":39,"box":{"x":523,"y":229,"width":400,"height":11}},{"id":"1c952643-9d23-42d2-bf71-cd749ab2d66b","block_type":"box","text":"goods or a service provider to perform services for the","page_number":39,"box":{"x":523,"y":243,"width":400,"height":11}},{"id":"c6036bdd-fa47-4a61-b7ca-e3c1b74db617","block_type":"box","text":"Sub-Funds or other funds managed by the ACS","page_number":39,"box":{"x":523,"y":256,"width":399,"height":12}},{"id":"c77b440c-8380-4432-ad28-bea0d3e8a5b2","block_type":"box","text":"Manager or associates (the cost of which will generally","page_number":39,"box":{"x":524,"y":270,"width":399,"height":11}},{"id":"57f66018-ae86-4c5e-b8cd-76ab84203adf","block_type":"box","text":"be borne directly or indirectly by the Sub-Fund or such","page_number":39,"box":{"x":524,"y":284,"width":398,"height":11}},{"id":"835621da-5e6e-4331-b380-e6c918b8c449","block_type":"box","text":"other funds). Notwithstanding the above, the selection","page_number":39,"box":{"x":523,"y":297,"width":399,"height":12}},{"id":"cae461ad-f505-48e9-a59b-485734a1a375","block_type":"box","text":"of such entities that may provide goods and services","page_number":39,"box":{"x":523,"y":311,"width":400,"height":11}},{"id":"425131af-5231-4a0c-a0a5-631a2cb43761","block_type":"box","text":"will generally be allocated based on an evaluation","page_number":39,"box":{"x":523,"y":325,"width":399,"height":11}},{"id":"d53956cd-fcbb-4044-a2a9-ee61252a44fd","block_type":"box","text":"which includes such entities’ provision of certain goods","page_number":39,"box":{"x":523,"y":338,"width":400,"height":12}},{"id":"78d2e2c0-4b18-4403-89c9-b38225695054","block_type":"box","text":"and services that the ACS Manager or associates","page_number":39,"box":{"x":523,"y":352,"width":400,"height":11}},{"id":"12c7ffb7-3362-46f6-8439-a016bbf2d3d4","block_type":"box","text":"believes to be of benefit to a Sub-Fund, or such other","page_number":39,"box":{"x":524,"y":366,"width":399,"height":10}},{"id":"0ff31459-fa46-4460-954e-fb88bdcb7de2","block_type":"box","text":"funds managed by the ACS Manager or associates.","page_number":39,"box":{"x":523,"y":379,"width":383,"height":12}},{"id":"31125a24-3f95-4ce6-98cd-8eb2385ba53a","block_type":"box","text":"30. Fair Treatment","page_number":39,"box":{"x":535,"y":405,"width":163,"height":9}},{"id":"f2a45b4c-9e13-4236-9579-035b700d8bce","block_type":"box","text":"The detailed rights and obligations of the Depositary,","page_number":39,"box":{"x":523,"y":425,"width":399,"height":11}},{"id":"4ed9a8a2-ce8b-4d14-a9ce-6b592f147b93","block_type":"box","text":"ACS Manager and Unitholders are set out in the ACS","page_number":39,"box":{"x":523,"y":438,"width":400,"height":11}},{"id":"e6f8ad07-5de3-4e6b-a5f6-61ee70230a9e","block_type":"box","text":"Deed. The ACS Manager ensures that the ACS Deed","page_number":39,"box":{"x":524,"y":452,"width":398,"height":11}},{"id":"2403d3ff-3375-4a24-9368-4bf610660205","block_type":"box","text":"is made available for review by each Unitholder as set","page_number":39,"box":{"x":524,"y":466,"width":399,"height":11}},{"id":"eb3ef892-6e8f-4f39-9ab2-c93343887422","block_type":"box","text":"out in section 36 (viii), such that each Unitholder is","page_number":39,"box":{"x":523,"y":479,"width":400,"height":11}},{"id":"f10c92b0-3248-4f51-ac56-e6e10daa6b39","block_type":"box","text":"informed about its rights and obligations under that","page_number":39,"box":{"x":524,"y":493,"width":399,"height":11}},{"id":"92e1275b-33e8-418f-8671-1a895a6104a8","block_type":"box","text":"document. The ACS Manager seeks to ensure fair","page_number":39,"box":{"x":523,"y":506,"width":400,"height":12}},{"id":"3bc0f604-8e4b-4366-80d4-a9b5e48a8e86","block_type":"box","text":"treatment of all Unitholders by complying with the","page_number":39,"box":{"x":523,"y":520,"width":400,"height":11}},{"id":"f4501a51-9da5-4963-a9dd-94da1d1bf310","block_type":"box","text":"terms of the ACS Deed and applicable law.","page_number":39,"box":{"x":523,"y":534,"width":318,"height":11}},{"id":"f8297439-5711-4b70-9ae0-bf84636289da","block_type":"box","text":"31. Changes to the Scheme and Meetings of","page_number":39,"box":{"x":535,"y":559,"width":388,"height":11}},{"id":"f0833e4f-2459-4736-a705-665df00d2959","block_type":"box","text":"Unitholders","page_number":39,"box":{"x":583,"y":573,"width":92,"height":9}},{"id":"9dc645f4-b411-4b6f-92ea-ce42202918da","block_type":"box","text":"Changes to any Scheme may be made in accordance","page_number":39,"box":{"x":523,"y":593,"width":400,"height":11}},{"id":"c332ae0c-0e9b-47db-8068-f391b44a80b7","block_type":"box","text":"with the method of classification described in sections","page_number":39,"box":{"x":523,"y":606,"width":400,"height":9}},{"id":"ddf76651-2600-4dea-a6f5-c1281698c4e0","block_type":"box","text":"(a), 31(b) and 31(c) below.","page_number":39,"box":{"x":524,"y":620,"width":195,"height":11}},{"id":"ae26f96f-8a36-48a0-a07c-88dfca1294a4","block_type":"box","text":"(a)","page_number":39,"box":{"x":524,"y":645,"width":18,"height":12}},{"id":"484e3fb8-08c3-4430-a2d6-d1cffe8c93b0","block_type":"box","text":"Fundamental Change","page_number":39,"box":{"x":583,"y":645,"width":169,"height":12}},{"id":"37f966a0-9353-43ba-a65b-360b2468514c","block_type":"box","text":"A fundamental change is a change or event which:","page_number":39,"box":{"x":523,"y":665,"width":374,"height":11}},{"id":"748fe0d4-7aef-4211-8bf8-6c86f963d7dc","block_type":"box","text":"(i) changes the purpose or nature of the Scheme;","page_number":39,"box":{"x":524,"y":685,"width":398,"height":11}},{"id":"11c3efbd-8d17-4ca2-9ac9-e7aa4cbe7dba","block_type":"box","text":"or","page_number":39,"box":{"x":571,"y":701,"width":14,"height":6}},{"id":"956928f2-e6ff-440e-8429-70613170be26","block_type":"box","text":"(ii) may materially prejudice a Unitholder; or","page_number":39,"box":{"x":524,"y":718,"width":347,"height":11}},{"id":"9e182e85-bf84-4ea1-8498-55866d003a42","block_type":"box","text":"(iii) alters the risk profile of a Sub-Fund of the","page_number":39,"box":{"x":524,"y":737,"width":399,"height":12}},{"id":"752111e8-7a63-4a01-a2da-82fea77401dc","block_type":"box","text":"Scheme; or","page_number":39,"box":{"x":571,"y":751,"width":85,"height":11}},{"id":"d52052d6-60f2-4d10-a315-a351a71ffc28","block_type":"box","text":"(iv) introduces any new type of payment out of","page_number":39,"box":{"x":524,"y":771,"width":399,"height":11}},{"id":"f9fb3fa9-9726-4ca8-998c-b2a56ca1fe1e","block_type":"box","text":"Scheme property.","page_number":39,"box":{"x":571,"y":784,"width":130,"height":12}},{"id":"f22a978d-424c-483a-9264-658b6f954e45","block_type":"box","text":"The ACS Manager will obtain prior approval from","page_number":39,"box":{"x":523,"y":804,"width":399,"height":11}},{"id":"442c10b7-8dba-40ea-94f8-a2ad8fe7c852","block_type":"box","text":"Unitholders to any fundamental change by way of an","page_number":39,"box":{"x":524,"y":818,"width":398,"height":11}},{"id":"47325f26-9524-492e-8730-95e380155648","block_type":"box","text":"extraordinary resolution of the Unitholders of the","page_number":39,"box":{"x":523,"y":831,"width":400,"height":11}},{"id":"96b3115f-1049-4b08-9f4f-0e489bc92c5c","block_type":"box","text":"Scheme. See below for details of calling a meeting of","page_number":39,"box":{"x":523,"y":845,"width":400,"height":11}},{"id":"ce0e91fa-02e0-458d-b0e8-2f3e7f202dbc","block_type":"box","text":"Unitholders.","page_number":39,"box":{"x":524,"y":859,"width":87,"height":9}},{"id":"4f3cfbaf-8441-468c-b1d7-dbde67af388b","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 40","page_number":40,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"64e143e1-d8b1-413b-bf28-a556b3b9568f","block_type":"box","text":"(b)","page_number":40,"box":{"x":63,"y":46,"width":18,"height":11}},{"id":"c0eea4c0-8698-4aa5-bb16-874d4304ba68","block_type":"box","text":"Significant Change","page_number":40,"box":{"x":122,"y":46,"width":150,"height":11}},{"id":"7f818849-bcfa-495f-9e56-027f37288b13","block_type":"box","text":"A significant change is a change or event which the","page_number":40,"box":{"x":62,"y":65,"width":399,"height":11}},{"id":"2f447a67-b326-4020-ba13-4a81e5f8b703","block_type":"box","text":"ACS Manager and Depositary have determined is not","page_number":40,"box":{"x":62,"y":79,"width":400,"height":11}},{"id":"d1ed120a-2dc2-4abc-ae0f-35c7ff202899","block_type":"box","text":"a fundamental change but is a change which:","page_number":40,"box":{"x":62,"y":93,"width":335,"height":11}},{"id":"24459b67-d9d7-4c5b-8135-46802272f444","block_type":"box","text":"(i) affects a Unitholder's ability to exercise his","page_number":40,"box":{"x":63,"y":112,"width":398,"height":11}},{"id":"87da7a34-7b38-415d-aaf7-f5117a8e21b7","block_type":"box","text":"rights in relation to his investment; or","page_number":40,"box":{"x":110,"y":126,"width":272,"height":11}},{"id":"ef31f753-65f9-408d-a18b-bdb12677a860","block_type":"box","text":"would reasonably be expected to cause a","page_number":40,"box":{"x":109,"y":146,"width":353,"height":11}},{"id":"682a1d3d-b66e-4b4f-b5c8-068e6ede26a6","block_type":"box","text":"Unitholder to reconsider his participation in the","page_number":40,"box":{"x":110,"y":159,"width":351,"height":11}},{"id":"1ab913f6-5c6a-42d8-bf36-44d5a7ded396","block_type":"box","text":"Scheme; or","page_number":40,"box":{"x":110,"y":173,"width":85,"height":10}},{"id":"1bed428b-f7f0-4a35-9460-d6a7c67b7a4a","block_type":"box","text":"(ii) results in any increased payments out of","page_number":40,"box":{"x":63,"y":192,"width":399,"height":12}},{"id":"baf52a7c-a662-49c6-9b99-45759dbcbc9b","block_type":"box","text":"Scheme property to the ACS Manager or any of","page_number":40,"box":{"x":110,"y":206,"width":352,"height":11}},{"id":"fa123079-338a-47f9-ac4a-3746d9b8856d","block_type":"box","text":"its associate companies; or","page_number":40,"box":{"x":110,"y":220,"width":201,"height":11}},{"id":"734fca77-3088-460c-bfbe-cc234a033486","block_type":"box","text":"(iii) materially increases other types of payment out","page_number":40,"box":{"x":63,"y":239,"width":399,"height":11}},{"id":"dbfa3518-72ed-4f26-99de-802d8732b19b","block_type":"box","text":"of Scheme property.","page_number":40,"box":{"x":110,"y":253,"width":149,"height":11}},{"id":"33f87a0a-557a-41ec-96da-80d05d3c154c","block_type":"box","text":"The ACS Manager will give Unitholders at least 60","page_number":40,"box":{"x":62,"y":272,"width":399,"height":12}},{"id":"574407fd-de7d-44ff-bbcf-ef033b246ee1","block_type":"box","text":"days' notice in advance of implementing any significant","page_number":40,"box":{"x":62,"y":286,"width":400,"height":11}},{"id":"e465c241-4840-4dcc-93aa-72ef4b42afdf","block_type":"box","text":"change.","page_number":40,"box":{"x":62,"y":300,"width":58,"height":11}},{"id":"4a009259-8773-438e-b283-26352eb76c63","block_type":"box","text":"(c)","page_number":40,"box":{"x":63,"y":325,"width":17,"height":12}},{"id":"0ab4c384-3186-41ea-86ef-858551784280","block_type":"box","text":"Notifiable Change","page_number":40,"box":{"x":122,"y":325,"width":141,"height":12}},{"id":"d540396e-ba87-49ba-8b34-98cebfba2a3a","block_type":"box","text":"A notifiable change is a change or event, other than a","page_number":40,"box":{"x":62,"y":345,"width":400,"height":11}},{"id":"cf71dabf-8bec-4339-82f6-c748cf8b66fc","block_type":"box","text":"fundamental change or a significant change, which is","page_number":40,"box":{"x":62,"y":359,"width":399,"height":11}},{"id":"9d9b9b33-fba7-49cb-b8ff-8c754815931d","block_type":"box","text":"reasonably likely to affect or have affected the","page_number":40,"box":{"x":63,"y":372,"width":398,"height":11}},{"id":"b167fe7c-8065-4e6b-b5b8-43c87084c7b1","block_type":"box","text":"operation of the Scheme.","page_number":40,"box":{"x":62,"y":386,"width":185,"height":11}},{"id":"1b2027de-e6bb-4a87-bf01-b483fdbb147d","block_type":"box","text":"Depending on the nature of the change the ACS","page_number":40,"box":{"x":63,"y":406,"width":398,"height":11}},{"id":"39e3b582-e6d0-41ad-a416-6b46319c8829","block_type":"box","text":"Manager will inform Unitholders of notifiable events","page_number":40,"box":{"x":63,"y":419,"width":398,"height":11}},{"id":"24e73516-9722-46c0-bcf9-51f380be3897","block_type":"box","text":"either by:","page_number":40,"box":{"x":62,"y":433,"width":67,"height":11}},{"id":"43665926-f107-479d-ae5c-1d38bf0a838b","block_type":"box","text":"(i) sending of an immediate notification to","page_number":40,"box":{"x":63,"y":452,"width":398,"height":12}},{"id":"82307e15-9106-47a6-b439-e8eb170ae0b4","block_type":"box","text":"Unitholders; or","page_number":40,"box":{"x":110,"y":466,"width":108,"height":11}},{"id":"5f7ed0d6-7fc6-4a5e-9116-e7f0c3abfaa8","block_type":"box","text":"(ii) publishing information about the change on the","page_number":40,"box":{"x":63,"y":486,"width":398,"height":11}},{"id":"3be4df63-f141-4caf-bcd0-f750d5203cb9","block_type":"box","text":"ACS Manager's website; or","page_number":40,"box":{"x":109,"y":499,"width":203,"height":12}},{"id":"2698be06-2528-4a6e-b012-dd30475ca60a","block_type":"box","text":"(iii) including it in the next report for the Scheme.","page_number":40,"box":{"x":63,"y":519,"width":378,"height":11}},{"id":"40c66d4c-c39c-41f2-b90f-5ad0a15a4662","block_type":"box","text":"(d)","page_number":40,"box":{"x":63,"y":545,"width":18,"height":11}},{"id":"88e9b0f7-ef7f-4dd4-bf7f-4d1104eb3bc1","block_type":"box","text":"Notice","page_number":40,"box":{"x":122,"y":545,"width":50,"height":8}},{"id":"f3544e55-a535-465b-ba16-02db838f30a4","block_type":"box","text":"The ACS Manager will write to Unitholders at their","page_number":40,"box":{"x":62,"y":564,"width":400,"height":11}},{"id":"5eea5e1e-afdf-452d-974b-8ea05aa260b9","block_type":"box","text":"registered postal or e-mail address (as applicable) to","page_number":40,"box":{"x":63,"y":578,"width":399,"height":11}},{"id":"3a3b3901-0c91-4412-afd1-ed430656194b","block_type":"box","text":"give notice of any fundamental, significant, or notifiable","page_number":40,"box":{"x":62,"y":591,"width":399,"height":12}},{"id":"7c590e6e-e88f-4eb6-83e4-22860b29619c","block_type":"box","text":"changes, as appropriate.","page_number":40,"box":{"x":62,"y":605,"width":183,"height":11}},{"id":"580d39c9-bf72-48e5-a589-f86772383bc1","block_type":"box","text":"(e)","page_number":40,"box":{"x":63,"y":631,"width":18,"height":11}},{"id":"d2210926-43a6-4f19-944b-2aaa83a91f57","block_type":"box","text":"Meetings of Unitholders","page_number":40,"box":{"x":122,"y":631,"width":189,"height":11}},{"id":"397d4764-5c98-485d-8934-63fca7709043","block_type":"box","text":"Rules for the calling and conduct of meetings of","page_number":40,"box":{"x":63,"y":650,"width":399,"height":11}},{"id":"b5d81b24-c7e5-46fd-b532-f68b78bbc134","block_type":"box","text":"Unitholders and the voting rights of Unitholders at such","page_number":40,"box":{"x":63,"y":664,"width":398,"height":11}},{"id":"55205d35-d94e-452d-a4a0-2553d7a56910","block_type":"box","text":"meetings are governed by the COLL Sourcebook and","page_number":40,"box":{"x":62,"y":677,"width":399,"height":12}},{"id":"cbf752cc-2f1b-41fa-a2b0-eb08eac66125","block_type":"box","text":"the ACS Deed. At a meeting of Unitholders a resolution","page_number":40,"box":{"x":62,"y":691,"width":399,"height":11}},{"id":"781da40a-1989-4727-a376-06ade511137f","block_type":"box","text":"put to the vote shall be decided on a show of hands","page_number":40,"box":{"x":62,"y":705,"width":399,"height":11}},{"id":"4b3323f8-dd6b-42b5-812c-53b94cce6910","block_type":"box","text":"unless a poll is demanded by the chairman, by the","page_number":40,"box":{"x":63,"y":719,"width":398,"height":11}},{"id":"ab8335ca-08ca-449f-bc7f-e5c854b62102","block_type":"box","text":"Depositary or by at least two Unitholders present in","page_number":40,"box":{"x":63,"y":732,"width":398,"height":11}},{"id":"22853502-db7a-4ef4-be9e-a5f0dfc8f794","block_type":"box","text":"person or by proxy. On a show of hands every","page_number":40,"box":{"x":62,"y":746,"width":400,"height":11}},{"id":"21c105e6-cd33-4dde-82e6-fa0a835c29d3","block_type":"box","text":"Unitholder who (being an individual) is present in","page_number":40,"box":{"x":63,"y":759,"width":398,"height":12}},{"id":"cf613bb9-795b-496c-b9a9-47160345705d","block_type":"box","text":"person or, (being a corporation) is present by its","page_number":40,"box":{"x":62,"y":773,"width":399,"height":11}},{"id":"6fed4629-13dc-4be6-a597-e9072c246d80","block_type":"box","text":"representative properly authorised in that regard, has","page_number":40,"box":{"x":63,"y":787,"width":398,"height":11}},{"id":"3f33a734-76db-458e-8058-6711e5ed5a3a","block_type":"box","text":"one vote. On a poll the voting right for each Unit must","page_number":40,"box":{"x":62,"y":800,"width":400,"height":12}},{"id":"7c5bb250-791c-449a-8787-bfeb6894ab33","block_type":"box","text":"be the proportion of the voting rights attached to all of","page_number":40,"box":{"x":62,"y":814,"width":400,"height":11}},{"id":"160278a8-1ee7-445d-9221-7f69862ab2bc","block_type":"box","text":"the Units in issue that the value of the Unit bears to the","page_number":40,"box":{"x":62,"y":828,"width":399,"height":9}},{"id":"02badce7-64aa-4dc1-b7d1-9f1b6463cff8","block_type":"box","text":"aggregate value of all the Units in issue. A person","page_number":40,"box":{"x":62,"y":841,"width":399,"height":12}},{"id":"10924b4a-28d0-431c-8e48-c20c35234ad7","block_type":"box","text":"entitled to more than one vote need not use all his","page_number":40,"box":{"x":62,"y":855,"width":399,"height":9}},{"id":"b7332a88-290e-405b-9ad3-92cb862fd815","block_type":"box","text":"votes or cast all the votes he uses in the same way.","page_number":40,"box":{"x":62,"y":869,"width":382,"height":11}},{"id":"a07e121e-c08d-4d66-b98d-4b0ef6c20f21","block_type":"box","text":"A corporation being a Unitholder may authorise such a","page_number":40,"box":{"x":62,"y":888,"width":400,"height":12}},{"id":"da7f3a94-517d-4eda-ab72-b5a1754296c4","block_type":"box","text":"person as it thinks fit to act as its representative at any","page_number":40,"box":{"x":62,"y":902,"width":400,"height":11}},{"id":"fb6c3c24-2e32-4445-a3dc-c2c611f6bd2f","block_type":"box","text":"meeting of Unitholders and the person so authorised","page_number":40,"box":{"x":62,"y":916,"width":399,"height":11}},{"id":"5c4c1941-b192-404e-8950-9168757c0dff","block_type":"box","text":"shall be entitled to exercise the same powers on behalf","page_number":40,"box":{"x":523,"y":46,"width":400,"height":11}},{"id":"8bda05d4-62b6-4004-bf09-e597badf31f3","block_type":"box","text":"of the corporation which he represents as the","page_number":40,"box":{"x":523,"y":59,"width":400,"height":11}},{"id":"304d44f5-0526-4a29-be8d-b9ca00d6c42f","block_type":"box","text":"corporation could exercise if it were an individual","page_number":40,"box":{"x":523,"y":73,"width":399,"height":11}},{"id":"c7601571-18f6-4ab3-b57a-4380e3977ae1","block_type":"box","text":"Unitholder.","page_number":40,"box":{"x":524,"y":87,"width":78,"height":9}},{"id":"41d0bd14-078d-4ac4-800d-7d9560cb634d","block_type":"box","text":"In the case of joint Unitholders any joint Unitholder may","page_number":40,"box":{"x":524,"y":106,"width":399,"height":11}},{"id":"134036f4-4559-4c35-8fad-a8acc56b20d6","block_type":"box","text":"vote provided that if more than one votes the most","page_number":40,"box":{"x":523,"y":120,"width":400,"height":11}},{"id":"c43fdb2b-1839-4bf5-ad3a-0a597f1e22ef","block_type":"box","text":"senior Unitholder in the Register who tenders a vote","page_number":40,"box":{"x":523,"y":134,"width":400,"height":11}},{"id":"99559116-282e-4280-8f5d-cd10d8270b3a","block_type":"box","text":"whether in person or by proxy shall be accepted to the","page_number":40,"box":{"x":523,"y":147,"width":400,"height":11}},{"id":"cca2ced1-88ff-41aa-8602-8316c833721b","block_type":"box","text":"exclusion of the votes of the other joint Unitholders. For","page_number":40,"box":{"x":523,"y":161,"width":400,"height":11}},{"id":"88dc53b8-b48c-4eb1-a4aa-53868814e413","block_type":"box","text":"this purpose seniority will be determined by the order","page_number":40,"box":{"x":523,"y":175,"width":400,"height":11}},{"id":"44ccf2f4-fc45-4d8a-8608-3903a05c8776","block_type":"box","text":"in which the names stand in the register of Unitholders.","page_number":40,"box":{"x":524,"y":188,"width":398,"height":11}},{"id":"1219da24-be38-42f4-a88c-edbfebe03f28","block_type":"box","text":"On a poll, votes may be given either personally or by","page_number":40,"box":{"x":523,"y":208,"width":400,"height":11}},{"id":"c789f161-81c3-4502-a890-00bc9c02620e","block_type":"box","text":"proxy.","page_number":40,"box":{"x":524,"y":224,"width":43,"height":9}},{"id":"b1139f3a-1f8a-4544-bacd-9b8669ac5887","block_type":"box","text":"The ACS Manager and its associates may hold Units","page_number":40,"box":{"x":523,"y":241,"width":400,"height":11}},{"id":"e481f955-f4e4-4395-b1e8-86ddb1a67b9f","block_type":"box","text":"in the Sub-Funds. The ACS Manager is entitled to","page_number":40,"box":{"x":524,"y":255,"width":399,"height":11}},{"id":"405bfd8c-6fc3-4819-96c4-362c3dcfd7a8","block_type":"box","text":"receive notice of and attend any meeting but it is not","page_number":40,"box":{"x":524,"y":268,"width":399,"height":12}},{"id":"6323940e-9b86-4d5e-8111-6caaa6694843","block_type":"box","text":"entitled to vote or be counted in the quorum and its","page_number":40,"box":{"x":523,"y":282,"width":399,"height":11}},{"id":"a5b7db36-30e7-44a4-87d0-1bc83264ad88","block_type":"box","text":"Units are not regarded as being in issue in relation to","page_number":40,"box":{"x":524,"y":296,"width":399,"height":11}},{"id":"696bef59-89c6-4fae-9b8f-3cece6b5f638","block_type":"box","text":"such meetings. An associate of the ACS Manager may","page_number":40,"box":{"x":523,"y":309,"width":400,"height":12}},{"id":"43c9b300-44f9-44e3-859e-7ead9cb51ed5","block_type":"box","text":"be counted in the quorum but may not vote except","page_number":40,"box":{"x":524,"y":323,"width":399,"height":11}},{"id":"16afdfa2-8103-412c-bae2-b6032a0b14b6","block_type":"box","text":"where the associate is in receipt of voting instructions","page_number":40,"box":{"x":523,"y":337,"width":400,"height":11}},{"id":"fc7bbf97-1051-4761-8906-44140e426a2c","block_type":"box","text":"in respect of Units held on behalf of a person who, if","page_number":40,"box":{"x":524,"y":350,"width":399,"height":11}},{"id":"823e7bf1-40cd-49f8-bf22-9bb46ef3a3ec","block_type":"box","text":"himself the registered Unitholder, would be entitled to","page_number":40,"box":{"x":524,"y":364,"width":399,"height":11}},{"id":"d0c44fdb-c354-41e5-bf22-6c988b795d0b","block_type":"box","text":"vote, and from whom the associate has received voting","page_number":40,"box":{"x":523,"y":378,"width":399,"height":11}},{"id":"fb24ff26-924a-4040-b8f9-26db183048c9","block_type":"box","text":"instructions.","page_number":40,"box":{"x":524,"y":391,"width":87,"height":9}},{"id":"991475ca-4e61-4884-a8f5-2898a1dd1ac2","block_type":"box","text":"32. Winding Up","page_number":40,"box":{"x":535,"y":417,"width":140,"height":11}},{"id":"0b2c8cb0-9a53-4314-b7c9-755e238bf020","block_type":"box","text":"The Scheme may be wound up upon the happening of","page_number":40,"box":{"x":523,"y":436,"width":400,"height":12}},{"id":"fc1360dd-591a-4c7f-bf3d-6194a49bec6b","block_type":"box","text":"any of the following:","page_number":40,"box":{"x":523,"y":450,"width":147,"height":11}},{"id":"b9b319cb-a78d-42d6-a174-1c058e21a49c","block_type":"box","text":"the order declaring it to be an authorised","page_number":40,"box":{"x":570,"y":470,"width":352,"height":11}},{"id":"99de7b7a-cee1-406d-88b8-a8ccf3ae790d","block_type":"box","text":"contractual scheme is revoked; or","page_number":40,"box":{"x":571,"y":484,"width":250,"height":10}},{"id":"959f768b-e0c7-4580-aa7b-6443e01d1eab","block_type":"box","text":"in response to a request to the FCA by the ACS","page_number":40,"box":{"x":571,"y":503,"width":351,"height":11}},{"id":"3adea2a8-8d7d-4a02-a5c7-cd83fe980d23","block_type":"box","text":"Manager or the Depositary for the revocation of","page_number":40,"box":{"x":571,"y":517,"width":352,"height":11}},{"id":"b0228fa9-d9c2-4ec7-8132-566713fcae54","block_type":"box","text":"the order declaring it to be an authorised","page_number":40,"box":{"x":570,"y":530,"width":352,"height":12}},{"id":"c3946801-bcc7-49fc-99b5-6140b47c4a66","block_type":"box","text":"contractual scheme the FCA has agreed, albeit","page_number":40,"box":{"x":571,"y":544,"width":352,"height":11}},{"id":"efb97310-94f2-4647-946b-8c54c98144ee","block_type":"box","text":"subject to there being no material change in any","page_number":40,"box":{"x":571,"y":558,"width":352,"height":11}},{"id":"1d01bae3-aeae-4c03-af6d-06b36cf1c7fb","block_type":"box","text":"relevant factor, that, on the conclusion","page_number":40,"box":{"x":572,"y":571,"width":297,"height":11}},{"id":"2ac36824-5cf9-442b-aa69-5376c3dd85fa","block_type":"box","text":"of","page_number":40,"box":{"x":879,"y":571,"width":13,"height":9}},{"id":"5722e9ee-9c21-442a-b8f5-e200f3533f65","block_type":"box","text":"the","page_number":40,"box":{"x":900,"y":571,"width":23,"height":9}},{"id":"c70cfbf0-e8aa-4e8b-9830-1cffadab84c8","block_type":"box","text":"winding up of the authorised contractual","page_number":40,"box":{"x":570,"y":585,"width":352,"height":11}},{"id":"eae7d215-6708-43b0-8715-736c46f821dd","block_type":"box","text":"scheme, the FCA will accede to that request; or","page_number":40,"box":{"x":571,"y":598,"width":352,"height":12}},{"id":"b4d40df5-7ff2-4b1f-9118-cd6846033e8f","block_type":"box","text":"the effective date of a duly approved scheme of","page_number":40,"box":{"x":570,"y":618,"width":353,"height":11}},{"id":"6d8c9290-41e3-491a-84a3-da344c3e408b","block_type":"box","text":"arrangement, which is to result in the authorised","page_number":40,"box":{"x":571,"y":632,"width":351,"height":11}},{"id":"58fc693f-ff8d-4c23-893c-8a8d38e8ae62","block_type":"box","text":"contractual scheme being left with no property.","page_number":40,"box":{"x":571,"y":645,"width":345,"height":12}},{"id":"b66cee04-67ad-4250-998d-245a7b68eb38","block_type":"box","text":"On a winding up (otherwise than in accordance with an","page_number":40,"box":{"x":523,"y":665,"width":399,"height":11}},{"id":"f93b2c72-1a6a-446f-b6f0-99d85cbea1df","block_type":"box","text":"approved scheme of arrangement) the Depositary is","page_number":40,"box":{"x":523,"y":679,"width":400,"height":11}},{"id":"7f725a5c-8b6d-4c1c-9783-299f309f7d4d","block_type":"box","text":"required as soon as practicable after a Sub-Fund falls","page_number":40,"box":{"x":524,"y":692,"width":399,"height":11}},{"id":"487081e6-1dce-4429-b33f-3021281ac6ed","block_type":"box","text":"to be wound up, to realise the property of a Sub-Fund","page_number":40,"box":{"x":523,"y":706,"width":399,"height":11}},{"id":"63f08b51-102e-43b2-8cdd-40e762008fe1","block_type":"box","text":"and, after paying out of the Sub-Fund or retaining","page_number":40,"box":{"x":523,"y":720,"width":399,"height":11}},{"id":"2d54ef88-fab7-4e7e-9c27-6e8d532e712c","block_type":"box","text":"adequate provision for all liabilities properly so payable","page_number":40,"box":{"x":523,"y":733,"width":400,"height":12}},{"id":"1aacde08-376a-478e-b068-c09d2030c5ec","block_type":"box","text":"and retaining provision for the costs of the winding up,","page_number":40,"box":{"x":523,"y":747,"width":399,"height":11}},{"id":"f17fc276-7ee5-4be9-9d5b-fed486d44724","block_type":"box","text":"to distribute the proceeds of that realisation to the","page_number":40,"box":{"x":523,"y":761,"width":400,"height":11}},{"id":"a5c90ea3-8d13-41f0-ab2c-b404f0ce7783","block_type":"box","text":"Unitholders and the ACS Manager (upon production","page_number":40,"box":{"x":524,"y":774,"width":398,"height":12}},{"id":"4a6254c2-48bc-4ee3-8565-ff415347b2df","block_type":"box","text":"by them of such evidence as the Depositary may","page_number":40,"box":{"x":524,"y":788,"width":399,"height":11}},{"id":"47b6cd9c-e168-4dd5-bc1c-a050eb3a8912","block_type":"box","text":"reasonably require as to their entitlement)","page_number":40,"box":{"x":524,"y":802,"width":398,"height":11}},{"id":"f46be502-2399-4816-8654-c7e5adb6415e","block_type":"box","text":"proportionately to their respective interests in a Sub","page_number":40,"box":{"x":524,"y":815,"width":398,"height":11}},{"id":"866885a9-936f-4c5e-b7e5-6afe444138ed","block_type":"box","text":"Fund as at the date of the relevant event. The","page_number":40,"box":{"x":524,"y":829,"width":399,"height":9}},{"id":"c62001eb-eb39-4972-bf97-48b50176c37d","block_type":"box","text":"Depositary may, in certain circumstances, (and with","page_number":40,"box":{"x":524,"y":843,"width":398,"height":11}},{"id":"75187eab-94a7-4569-8121-6b6b1bacd4b2","block_type":"box","text":"the agreement of the affected Unitholders) distribute","page_number":40,"box":{"x":523,"y":856,"width":400,"height":11}},{"id":"81c191c9-213c-472f-a3c2-51281330d6f8","block_type":"box","text":"property of a Sub-Fund (rather than the proceeds on","page_number":40,"box":{"x":524,"y":870,"width":398,"height":11}},{"id":"7a06f0a7-97cb-456b-8e5c-915747c0777a","block_type":"box","text":"the realisation of that property) to Unitholders on a","page_number":40,"box":{"x":523,"y":884,"width":400,"height":11}},{"id":"398a5dfa-3cc2-4abb-be99-4a1b5649fe05","block_type":"box","text":"winding-up.","page_number":40,"box":{"x":523,"y":897,"width":84,"height":12}},{"id":"877b49da-1b51-4b39-958f-9eb8026bbc8c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 41","page_number":41,"box":{"x":62,"y":929,"width":321,"height":8}},{"id":"a420fe1b-ec14-4af1-8276-1b2da9292c14","block_type":"box","text":"Any unclaimed net proceeds or other cash held by the","page_number":41,"box":{"x":62,"y":46,"width":399,"height":11}},{"id":"a4600f44-0832-4731-bb9b-f26f2177df89","block_type":"box","text":"Depositary after the expiration of twelve months from","page_number":41,"box":{"x":63,"y":59,"width":398,"height":12}},{"id":"1176c317-79da-45ad-bee9-25f24396393e","block_type":"box","text":"the date on which the same became payable is to be","page_number":41,"box":{"x":62,"y":73,"width":399,"height":11}},{"id":"de44019f-79a5-41bc-804d-127acc386978","block_type":"box","text":"paid by the Depositary into court subject to the","page_number":41,"box":{"x":62,"y":87,"width":399,"height":11}},{"id":"24d5936c-3cf7-4335-be59-4ff5a1a7b33b","block_type":"box","text":"Depositary having a right to retain from those net","page_number":41,"box":{"x":63,"y":100,"width":399,"height":12}},{"id":"1453a582-f970-48dd-a836-33e2d9b32972","block_type":"box","text":"proceeds or other cash any expenses incurred in","page_number":41,"box":{"x":62,"y":114,"width":399,"height":11}},{"id":"fa888af7-8804-4a74-aac5-5f9f840e5816","block_type":"box","text":"making the payment into court.","page_number":41,"box":{"x":62,"y":128,"width":228,"height":11}},{"id":"119cd4cb-eedb-4a6c-99df-66491cb2b665","block_type":"box","text":"If the Scheme is to be wound up in accordance with an","page_number":41,"box":{"x":63,"y":147,"width":398,"height":11}},{"id":"e2545b4c-1441-44c9-91a5-2dba4fc93d59","block_type":"box","text":"approved scheme of arrangement, the Depositary is","page_number":41,"box":{"x":62,"y":161,"width":399,"height":11}},{"id":"7d2315a9-695b-48d4-81a2-0a31e963a457","block_type":"box","text":"required to wind up the Scheme in accordance with the","page_number":41,"box":{"x":63,"y":174,"width":398,"height":12}},{"id":"e43d4d4f-83f6-4936-b86e-b2fe6dd091b8","block_type":"box","text":"resolution of Unitholders approving such scheme.","page_number":41,"box":{"x":63,"y":188,"width":398,"height":11}},{"id":"b605e2ea-5dc4-43ad-80e5-5f35adff9a7d","block_type":"box","text":"Distributions will only be made to Unitholders entered","page_number":41,"box":{"x":63,"y":202,"width":398,"height":11}},{"id":"4cd794b1-02be-4b94-958d-2ee685e24beb","block_type":"box","text":"on the register. Any net proceeds or cash (including","page_number":41,"box":{"x":62,"y":215,"width":399,"height":12}},{"id":"fdb671f7-ea56-477f-b9c3-1e45da4df193","block_type":"box","text":"unclaimed distribution payments) held by the","page_number":41,"box":{"x":63,"y":229,"width":398,"height":11}},{"id":"05868aea-b5c1-4983-a76e-79a4553c5305","block_type":"box","text":"Depositary which have not been claimed after 12","page_number":41,"box":{"x":63,"y":243,"width":398,"height":11}},{"id":"d187e7d4-b971-44f6-98fc-d732c1991cbc","block_type":"box","text":"months will be paid into court, after the deduction by","page_number":41,"box":{"x":62,"y":257,"width":400,"height":11}},{"id":"dd0ec1d2-e2b2-4cf6-8e42-fd547c3cab67","block_type":"box","text":"the Depositary of any expenses it may incur.","page_number":41,"box":{"x":62,"y":270,"width":328,"height":11}},{"id":"d1df5387-f3cf-4d36-a331-16aed1bef889","block_type":"box","text":"33. Allocation of Income","page_number":41,"box":{"x":74,"y":296,"width":212,"height":9}},{"id":"dd92d1ea-ffc0-4384-92f7-d71361f14708","block_type":"box","text":"The income available for allocation by distribution is","page_number":41,"box":{"x":62,"y":315,"width":399,"height":11}},{"id":"ce08917a-290a-4a3d-9e0f-3f8744f3f096","block_type":"box","text":"determined in accordance with the COLL Sourcebook","page_number":41,"box":{"x":62,"y":329,"width":400,"height":9}},{"id":"d642b231-4faf-4433-a37d-98ccfce13956","block_type":"box","text":"and the Investment Management Association's","page_number":41,"box":{"x":62,"y":343,"width":399,"height":11}},{"id":"ab487fb1-6ca5-4e84-a40e-f6dd3ecac22c","block_type":"box","text":"Statement of Recommended Practice for Accounting","page_number":41,"box":{"x":62,"y":356,"width":399,"height":12}},{"id":"a5d5ef55-973b-436f-a215-38aa1a012703","block_type":"box","text":"Standards for Investment Funds (SORP).","page_number":41,"box":{"x":62,"y":370,"width":305,"height":11}},{"id":"b12b6a0f-2ccf-4439-9a4d-d46c8ed3202d","block_type":"box","text":"Distributable income comprises all income received or","page_number":41,"box":{"x":63,"y":390,"width":399,"height":11}},{"id":"5b0c928c-5cd8-4871-8809-a308757fb0dc","block_type":"box","text":"receivable for the account of any Sub-Fund in respect","page_number":41,"box":{"x":63,"y":403,"width":399,"height":11}},{"id":"e6b5f784-44a3-466d-9a95-fa014c3b5bda","block_type":"box","text":"of the accounting period concerned, after deducting","page_number":41,"box":{"x":62,"y":417,"width":399,"height":11}},{"id":"e3e05524-3f64-4f90-96e9-90d8a04f4e39","block_type":"box","text":"net charges and expenses paid or payable out of such","page_number":41,"box":{"x":62,"y":431,"width":399,"height":11}},{"id":"264937f1-40d0-4e59-8617-5a2d9c4d0f49","block_type":"box","text":"income and after making such adjustments as the ACS","page_number":41,"box":{"x":62,"y":444,"width":399,"height":11}},{"id":"2ab70f14-fce6-4b7f-b229-ad0931871f54","block_type":"box","text":"Manager considers appropriate, in accordance with","page_number":41,"box":{"x":63,"y":458,"width":398,"height":11}},{"id":"8226898c-8ff6-4498-af54-4ed0cc86a66c","block_type":"box","text":"the COLL Sourcebook.","page_number":41,"box":{"x":62,"y":471,"width":169,"height":9}},{"id":"16da3464-a2fe-4d19-be1a-14e042a5b145","block_type":"box","text":"Income on debt securities, such as bonds and other","page_number":41,"box":{"x":63,"y":491,"width":399,"height":10}},{"id":"22ec8b92-f99b-438b-b01f-631c0adccf0d","block_type":"box","text":"fixed interest securities is calculated using the","page_number":41,"box":{"x":62,"y":505,"width":399,"height":11}},{"id":"a8e43429-22ef-4957-948b-be18a5159f3e","block_type":"box","text":"\"Effective Interest Rate\" method, in accordance with","page_number":41,"box":{"x":63,"y":518,"width":398,"height":11}},{"id":"392d2424-30d8-4095-ae96-d16fbeb4750f","block_type":"box","text":"the methodology laid down in the FRS 102 (UK","page_number":41,"box":{"x":62,"y":532,"width":400,"height":11}},{"id":"f1596cd0-6295-4ae4-98f2-c8e75d320eb0","block_type":"box","text":"GAAP).","page_number":41,"box":{"x":62,"y":546,"width":55,"height":11}},{"id":"6c7fc459-db41-4c33-a456-87bf454f9a9f","block_type":"box","text":"The Effective Interest Rate method for calculating","page_number":41,"box":{"x":62,"y":565,"width":399,"height":11}},{"id":"7669a088-371a-4fc3-adfc-f89f2820737f","block_type":"box","text":"income generated from debt securities, treats any","page_number":41,"box":{"x":62,"y":579,"width":400,"height":11}},{"id":"d974ba8b-5d08-4903-b05d-7ac238c874c4","block_type":"box","text":"premiums and discounts arising on the purchase of a","page_number":41,"box":{"x":62,"y":593,"width":400,"height":11}},{"id":"f7f22bd8-9a99-4feb-8113-07429768eeb5","block_type":"box","text":"debt security (when compared to its maturity or par","page_number":41,"box":{"x":62,"y":606,"width":400,"height":11}},{"id":"f4f0c74d-b0c2-40e3-b0d1-1a4a65141d88","block_type":"box","text":"value) as income and this, together with any future","page_number":41,"box":{"x":62,"y":620,"width":399,"height":11}},{"id":"83f76617-96cf-4d82-9a25-6d6a43718a31","block_type":"box","text":"expected income streams on the debt security, is","page_number":41,"box":{"x":62,"y":634,"width":399,"height":11}},{"id":"f25b612b-490c-4b3a-9d64-4ef353a9b3e5","block_type":"box","text":"amortised (written off) over the life of that security (to","page_number":41,"box":{"x":62,"y":647,"width":399,"height":11}},{"id":"a31da7ae-2279-4d8a-92eb-65f9bd65304c","block_type":"box","text":"its maturity) and discounted back to its present value","page_number":41,"box":{"x":62,"y":661,"width":399,"height":11}},{"id":"ff5cc894-24be-4b34-9b25-33b02a18bd83","block_type":"box","text":"and included in the calculation of distributable income.","page_number":41,"box":{"x":62,"y":675,"width":398,"height":8}},{"id":"02136f3f-4651-4bc9-9130-55e7872ce19b","block_type":"box","text":"For the purposes of allocating income, the ACS","page_number":41,"box":{"x":63,"y":694,"width":398,"height":11}},{"id":"bc40d8dd-a325-4b96-8bdf-6dbf028e5a46","block_type":"box","text":"Manager will determine on an annual basis, with","page_number":41,"box":{"x":63,"y":708,"width":398,"height":11}},{"id":"9fc7533d-ab4f-4a6f-998c-0020669d933b","block_type":"box","text":"reference to the objectives of a Sub-Fund, whether","page_number":41,"box":{"x":63,"y":721,"width":399,"height":12}},{"id":"53456344-e877-4e85-b797-83ea226cc5a7","block_type":"box","text":"such income should exclude premiums and discounts","page_number":41,"box":{"x":62,"y":735,"width":399,"height":11}},{"id":"86550aa1-22b6-47b1-8770-fb15bc120d44","block_type":"box","text":"arising on purchase of bonds attributed through the","page_number":41,"box":{"x":62,"y":749,"width":399,"height":11}},{"id":"81ee04c7-1e82-4206-95d3-dd83400ca9b9","block_type":"box","text":"Effective Interest Rate method.","page_number":41,"box":{"x":63,"y":762,"width":227,"height":9}},{"id":"a03fff27-ffa9-419e-958a-8b771a6bd727","block_type":"box","text":"Each Sub-Fund will distribute any available income in","page_number":41,"box":{"x":63,"y":782,"width":398,"height":11}},{"id":"bbbaa68d-0495-485e-b238-519e2f92da36","block_type":"box","text":"accordance with the provisions of section 21 following","page_number":41,"box":{"x":62,"y":796,"width":399,"height":11}},{"id":"a30a7a91-cc72-431f-af7b-2acc74f15867","block_type":"box","text":"the end of each of its accounting periods in relation to","page_number":41,"box":{"x":62,"y":809,"width":399,"height":12}},{"id":"7c7e1425-107b-485c-a763-a8e614500f8e","block_type":"box","text":"which it has an income allocation date. Each","page_number":41,"box":{"x":62,"y":823,"width":399,"height":9}},{"id":"ebd1b336-8051-48b1-81e3-136a51bc90fb","block_type":"box","text":"accounting period ends on an accounting date (either","page_number":41,"box":{"x":62,"y":837,"width":400,"height":11}},{"id":"b7322c51-cc97-4bdb-a0e5-0907e40857bc","block_type":"box","text":"interim or final). Details of the accounting periods and","page_number":41,"box":{"x":62,"y":850,"width":399,"height":11}},{"id":"809535d9-1654-4ff0-a348-94037eefdad3","block_type":"box","text":"income allocation dates for each Sub-Fund are set out","page_number":41,"box":{"x":62,"y":864,"width":400,"height":9}},{"id":"dd1cfc84-0501-45bf-af6f-5e7c76c34b2a","block_type":"box","text":"in Appendix 1.","page_number":41,"box":{"x":62,"y":878,"width":104,"height":11}},{"id":"073dc390-167f-4205-bc7d-0404b7d33b52","block_type":"box","text":"34. Information Made Available to Unitholders","page_number":41,"box":{"x":535,"y":46,"width":383,"height":9}},{"id":"34d7a3e1-6d2b-4168-9031-2ede430388c4","block_type":"box","text":"Under the UK AIFM Regime and the COLL","page_number":41,"box":{"x":524,"y":65,"width":399,"height":11}},{"id":"ccbf97c0-35ed-4968-a3ca-4d163554266b","block_type":"box","text":"Sourcebook, the ACS Manager must periodically","page_number":41,"box":{"x":523,"y":79,"width":400,"height":11}},{"id":"df4431e1-8414-48a5-a84f-9af9506b1ab5","block_type":"box","text":"disclose to Unitholders certain information in relation","page_number":41,"box":{"x":523,"y":93,"width":399,"height":8}},{"id":"f8e32e07-741e-4290-adfb-4be1746708e2","block_type":"box","text":"to the Scheme. This includes providing disclosure on","page_number":41,"box":{"x":523,"y":106,"width":399,"height":12}},{"id":"478de084-04d6-4f7b-a2b2-0548291b487d","block_type":"box","text":"each Sub-Fund's risk profile, which, as prescribed in","page_number":41,"box":{"x":523,"y":120,"width":399,"height":11}},{"id":"9540d45e-49a6-429c-a52b-920f92129156","block_type":"box","text":"the UK AIFM Regime, shall outline: (i) the measures","page_number":41,"box":{"x":523,"y":134,"width":400,"height":11}},{"id":"c8470732-e18d-49ae-ae30-3af0d6ef319d","block_type":"box","text":"used to assess the sensitivity of a Sub-Fund's portfolio","page_number":41,"box":{"x":524,"y":147,"width":399,"height":11}},{"id":"cddbd1e2-b94e-47e0-8333-06e4894d7eba","block_type":"box","text":"to the most relevant risks to which that Sub-Fund is or","page_number":41,"box":{"x":523,"y":161,"width":400,"height":9}},{"id":"04193bd0-bad0-4d4a-93dd-8dc035556b98","block_type":"box","text":"could be exposed; and (ii) if risk limits set by the ACS","page_number":41,"box":{"x":523,"y":174,"width":400,"height":12}},{"id":"4dbb2afe-6095-44f1-92b5-1f28458d3bfd","block_type":"box","text":"Manager have been or are likely to be exceeded and,","page_number":41,"box":{"x":524,"y":188,"width":398,"height":11}},{"id":"78410627-55ff-43d6-8325-7630ce44812c","block_type":"box","text":"where these risk limits have been exceeded, a","page_number":41,"box":{"x":523,"y":202,"width":400,"height":10}},{"id":"8e187384-dde1-42ce-95f7-ca8c16ed8f53","block_type":"box","text":"description of the circumstances and the remedial","page_number":41,"box":{"x":523,"y":216,"width":399,"height":11}},{"id":"a06941f1-b741-49f4-90d2-dad216df797f","block_type":"box","text":"measures taken.","page_number":41,"box":{"x":524,"y":229,"width":121,"height":9}},{"id":"3d51c2da-b337-48ed-b278-c735fe21be95","block_type":"box","text":"The ACS Manager intends to comply with its periodic","page_number":41,"box":{"x":523,"y":249,"width":400,"height":11}},{"id":"52901473-462a-4ffa-931e-b79d227ce3f6","block_type":"box","text":"disclosure requirements in the manner set out below.","page_number":41,"box":{"x":523,"y":263,"width":392,"height":11}},{"id":"8b926498-5ff2-40bd-8070-919b59e05cd4","block_type":"box","text":"The following information will be made available to","page_number":41,"box":{"x":523,"y":282,"width":400,"height":11}},{"id":"a33faef4-b2fe-43bf-ba49-28e9b5d7aa0f","block_type":"box","text":"Unitholders, as a minimum, as part of the Scheme's","page_number":41,"box":{"x":524,"y":296,"width":399,"height":11}},{"id":"11930e2c-d176-4efe-9a17-a41b491f618e","block_type":"box","text":"annual report:","page_number":41,"box":{"x":523,"y":310,"width":102,"height":10}},{"id":"db65f4d3-d86a-4cc5-a29c-72dc48f644c4","block_type":"box","text":"(i) the percentage of each Sub-Fund's assets","page_number":41,"box":{"x":524,"y":335,"width":399,"height":11}},{"id":"361d1534-06e3-4b1b-bd7c-fe415f02a319","block_type":"box","text":"which are subject to special arrangements","page_number":41,"box":{"x":570,"y":349,"width":353,"height":11}},{"id":"ded7e20d-2fcf-441a-9e8f-c3817a3f146f","block_type":"box","text":"arising from their illiquid nature;","page_number":41,"box":{"x":571,"y":362,"width":231,"height":11}},{"id":"12eb57bc-aa1b-4c38-a1a3-8b5d092bef54","block_type":"box","text":"(ii) any new arrangements for managing the","page_number":41,"box":{"x":524,"y":388,"width":399,"height":11}},{"id":"2d6eea66-8f29-4c42-a5c4-9347d43031bf","block_type":"box","text":"liquidity of a Sub-Fund;","page_number":41,"box":{"x":571,"y":401,"width":169,"height":12}},{"id":"4de1f1bf-0ac7-42be-b74c-545dab7c5484","block_type":"box","text":"(iii) the current risk profile of each Sub-Fund and the","page_number":41,"box":{"x":524,"y":421,"width":399,"height":11}},{"id":"38561eb1-a232-41ac-bd2e-f7049cc314b3","block_type":"box","text":"risk management systems employed by the","page_number":41,"box":{"x":572,"y":435,"width":351,"height":11}},{"id":"da46c1c7-e2ad-46e0-8f40-3a4f93fa8303","block_type":"box","text":"ACS Manager to manage those risks; and","page_number":41,"box":{"x":570,"y":448,"width":311,"height":12}},{"id":"ee2725df-741c-4a5b-be5d-d497507d8976","block_type":"box","text":"the total amount of leverage employed by each","page_number":41,"box":{"x":570,"y":468,"width":352,"height":11}},{"id":"76034e5d-449e-4a0b-9a9f-78e03a87ee1b","block_type":"box","text":"Sub-Fund.","page_number":41,"box":{"x":571,"y":481,"width":76,"height":9}},{"id":"01a9a8e4-0a99-403b-8faf-b3080a03c8db","block_type":"box","text":"Unitholders will also be provided with information","page_number":41,"box":{"x":524,"y":501,"width":398,"height":11}},{"id":"20e171f5-888d-471a-a1b9-d87491b7bbd2","block_type":"box","text":"regarding changes to (i) the maximum level of leverage","page_number":41,"box":{"x":524,"y":515,"width":399,"height":11}},{"id":"d271264e-da9c-4cae-aba4-4c790dabeed5","block_type":"box","text":"which a Sub-Fund, or the ACS Manager on that Sub","page_number":41,"box":{"x":523,"y":528,"width":400,"height":12}},{"id":"cdeb79f4-0047-4ff2-951f-70d858390715","block_type":"box","text":"Fund's behalf, may employ; or (ii) the rights for re-use","page_number":41,"box":{"x":524,"y":542,"width":399,"height":11}},{"id":"cefc478d-ce33-4a81-8e67-efaae136c6ac","block_type":"box","text":"of collateral under a Sub-Fund's leveraging","page_number":41,"box":{"x":523,"y":556,"width":399,"height":11}},{"id":"5207d629-246f-4979-b610-de7244ef4516","block_type":"box","text":"arrangements; or (iii) any guarantee granted under a","page_number":41,"box":{"x":523,"y":569,"width":400,"height":12}},{"id":"9b31ddcb-e956-470f-954a-7d9a1145ab4f","block_type":"box","text":"Sub-Fund's leveraging arrangements. This information","page_number":41,"box":{"x":523,"y":583,"width":399,"height":11}},{"id":"069e5024-efb5-429a-94cc-f8d2239f23af","block_type":"box","text":"will be made available to Unitholders, without undue","page_number":41,"box":{"x":523,"y":597,"width":400,"height":10}},{"id":"f1f0ac4d-97e5-47cc-b78d-7668bf281756","block_type":"box","text":"delay following the occurrence of that change, usually","page_number":41,"box":{"x":523,"y":610,"width":400,"height":12}},{"id":"1db419d0-f06f-413a-a069-e09ac9e49815","block_type":"box","text":"by way of update to this Prospectus. Where required,","page_number":41,"box":{"x":524,"y":624,"width":398,"height":11}},{"id":"806aaac9-f593-423b-966c-ffa1d617924c","block_type":"box","text":"such change will be preceded by notification to","page_number":41,"box":{"x":523,"y":638,"width":400,"height":11}},{"id":"3bf8c478-09e8-43f4-9c8d-552d8602fa6d","block_type":"box","text":"Unitholders.","page_number":41,"box":{"x":524,"y":652,"width":87,"height":8}},{"id":"6c1fcbc3-da00-4872-9313-e4928e138fc6","block_type":"box","text":"It is intended that Unitholders will be notified","page_number":41,"box":{"x":524,"y":671,"width":398,"height":9}},{"id":"74db7a54-315d-4a7a-b9c2-c5fdf86f98be","block_type":"box","text":"immediately if a Sub-Fund uses its powers of deferral","page_number":41,"box":{"x":524,"y":685,"width":398,"height":11}},{"id":"5a9eb0e3-2a9a-48b6-aa8c-67b3287f23a2","block_type":"box","text":"in relation to redemption requests, activates similar","page_number":41,"box":{"x":524,"y":698,"width":399,"height":11}},{"id":"17b05b23-ba48-41f8-be77-453443d5932a","block_type":"box","text":"liquidity management arrangements, or if the ACS","page_number":41,"box":{"x":524,"y":712,"width":399,"height":11}},{"id":"21b2df52-fc49-42d4-a61a-514d3920bfdb","block_type":"box","text":"Manager decides to suspend redemptions.","page_number":41,"box":{"x":524,"y":726,"width":398,"height":11}},{"id":"94c48a67-a3be-409f-97f2-7c8a4aaf715b","block_type":"box","text":"Unitholders will also be notified whenever the ACS","page_number":41,"box":{"x":524,"y":739,"width":399,"height":9}},{"id":"4279357b-f796-43f8-acda-df2451029bea","block_type":"box","text":"Manager makes material changes to liquidity","page_number":41,"box":{"x":524,"y":753,"width":399,"height":11}},{"id":"dbf8d423-db85-4eee-bfab-337787d14be1","block_type":"box","text":"management systems and procedures employed in","page_number":41,"box":{"x":524,"y":767,"width":398,"height":11}},{"id":"61451c68-ed44-4910-ac9c-96e948092731","block_type":"box","text":"respect of a Sub-Fund.","page_number":41,"box":{"x":524,"y":780,"width":168,"height":11}},{"id":"0a3d680a-adec-462c-95c1-7a1665ae35d2","block_type":"box","text":"35. Telephone recording","page_number":41,"box":{"x":535,"y":806,"width":212,"height":11}},{"id":"0f419947-6174-4b68-a4fc-760fa91fc0fa","block_type":"box","text":"The ACS Manager may record telephone calls for","page_number":41,"box":{"x":523,"y":825,"width":400,"height":12}},{"id":"a24c0ebf-2b76-4a70-92e8-1d919fa9df74","block_type":"box","text":"training and monitoring purposes and to confirm","page_number":41,"box":{"x":523,"y":839,"width":399,"height":11}},{"id":"89fa12c5-3967-4501-afdb-7825c4304085","block_type":"box","text":"investors’ instructions. Recordings will be provided on","page_number":41,"box":{"x":524,"y":853,"width":398,"height":11}},{"id":"f9c922bd-1880-4312-983e-a6a46d5eecba","block_type":"box","text":"request for a period of at least five years from the date","page_number":41,"box":{"x":524,"y":866,"width":399,"height":12}},{"id":"13c85e0b-0912-4d3f-b949-598e0d5e07c3","block_type":"box","text":"of such recording, or, where requested by a competent","page_number":41,"box":{"x":523,"y":880,"width":400,"height":11}},{"id":"72508877-1be0-4bf1-b428-ceef7013046d","block_type":"box","text":"regulatory authority, for a period of seven years, where","page_number":41,"box":{"x":524,"y":894,"width":399,"height":11}},{"id":"e37cf4b0-e5fa-471e-8965-79d46a475936","block_type":"box","text":"the ACS Manager can identify the call coming from the","page_number":41,"box":{"x":523,"y":907,"width":400,"height":11}},{"id":"c3e6befb-9893-4dd4-bb0a-7c318721c564","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 42","page_number":42,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"ee3306e1-b506-4da7-9682-521789f36a25","block_type":"box","text":"relevant investor. If the ACS Manager is requested to","page_number":42,"box":{"x":63,"y":46,"width":398,"height":11}},{"id":"948e9185-9fea-4ff4-b8c6-f3acd84bdf54","block_type":"box","text":"provide a recording of a particular call, the ACS","page_number":42,"box":{"x":62,"y":59,"width":399,"height":12}},{"id":"a284d45c-7512-4e1e-a0e5-13dcddecb38d","block_type":"box","text":"Manager may ask for further information to help it","page_number":42,"box":{"x":63,"y":73,"width":399,"height":11}},{"id":"69dd6d4e-777a-4433-93f6-e4b53ec27af7","block_type":"box","text":"identify the exact call to which the request relates.","page_number":42,"box":{"x":62,"y":87,"width":368,"height":11}},{"id":"24b37b64-e2a4-4eb8-900b-5ef6d60c6b74","block_type":"box","text":"36. Additional Information","page_number":42,"box":{"x":74,"y":112,"width":225,"height":9}},{"id":"80ab4d97-0999-4e69-805a-1063e8dd2b3f","block_type":"box","text":"(i) Each Sub-Fund is only available for investment","page_number":42,"box":{"x":63,"y":138,"width":399,"height":11}},{"id":"a60f7406-1536-4088-91ce-d80f309c7a98","block_type":"box","text":"by: (i) a professional ACS investor; (ii) a large","page_number":42,"box":{"x":110,"y":151,"width":351,"height":12}},{"id":"d9851298-cac8-449d-a5d2-37eb0a089e91","block_type":"box","text":"ACS investor; or (iii) a person who already holds","page_number":42,"box":{"x":109,"y":165,"width":352,"height":11}},{"id":"79ad0040-cbb2-4dea-8466-76d4b3bcbabb","block_type":"box","text":"Units in the Scheme (as these terms are defined","page_number":42,"box":{"x":110,"y":179,"width":351,"height":11}},{"id":"2af9111c-df84-4b8f-a3be-b881fc153963","block_type":"box","text":"in the FCA Handbook). This means the Scheme","page_number":42,"box":{"x":110,"y":192,"width":351,"height":11}},{"id":"0f5ac1c1-5076-4092-9982-10618c20158d","block_type":"box","text":"is designed for investment by institutional","page_number":42,"box":{"x":110,"y":206,"width":351,"height":11}},{"id":"38e0a72f-886f-4e1e-98d2-7e4639b2d82c","block_type":"box","text":"investors and not members of the general","page_number":42,"box":{"x":110,"y":220,"width":351,"height":11}},{"id":"2742e1d1-1c5d-4780-9ee5-d32b1329b4d0","block_type":"box","text":"public. The ACS Manager will not consider the","page_number":42,"box":{"x":110,"y":233,"width":351,"height":12}},{"id":"1fc2266d-5f3f-4f95-bd8f-6fed0999bb9f","block_type":"box","text":"suitability or appropriateness of an investment in","page_number":42,"box":{"x":110,"y":247,"width":351,"height":11}},{"id":"bf120119-842c-4335-a9d6-17a849350366","block_type":"box","text":"the Sub-Funds for an Unitholder's individual","page_number":42,"box":{"x":109,"y":261,"width":352,"height":9}},{"id":"7014b825-f552-435a-9662-a21f6c6ad6b6","block_type":"box","text":"circumstances. Unitholders should be willing to","page_number":42,"box":{"x":110,"y":274,"width":351,"height":12}},{"id":"55c031c9-4594-428b-aea7-aacc6b697d5b","block_type":"box","text":"accept capital and income risk, which may vary","page_number":42,"box":{"x":110,"y":288,"width":352,"height":11}},{"id":"a1cb7ecd-ea50-4ed7-a670-0ba63ce3d349","block_type":"box","text":"greatly from Sub-Fund to Sub-Fund. The Sub","page_number":42,"box":{"x":110,"y":302,"width":351,"height":11}},{"id":"e09ae423-bf09-408f-b324-208a420555c0","block_type":"box","text":"Funds are not suitable for short term investment","page_number":42,"box":{"x":110,"y":315,"width":352,"height":9}},{"id":"b55b676b-5d37-4bd3-9cc7-4c6e4dbf7e1c","block_type":"box","text":"and should therefore generally be regarded as","page_number":42,"box":{"x":110,"y":329,"width":351,"height":11}},{"id":"239620ea-678a-41e4-acdc-74d26bc00b94","block_type":"box","text":"long-term investments. The price of Units in a","page_number":42,"box":{"x":110,"y":343,"width":352,"height":11}},{"id":"058c1264-2fd3-4d4a-b230-acf2f7de74b7","block_type":"box","text":"Sub-Fund, and any income from them, can go","page_number":42,"box":{"x":110,"y":356,"width":351,"height":12}},{"id":"27f5e82f-630d-47b1-abb5-4926487dcda7","block_type":"box","text":"down as well as up and is not guaranteed.","page_number":42,"box":{"x":110,"y":370,"width":311,"height":11}},{"id":"39e199be-0b45-44a9-95df-20800312f531","block_type":"box","text":"(ii) A subscription for or redemption of Units by","page_number":42,"box":{"x":63,"y":389,"width":399,"height":12}},{"id":"ba18ef66-6c03-46ba-b8c8-a21c553a412b","block_type":"box","text":"approved electronic communication and/or in","page_number":42,"box":{"x":110,"y":403,"width":351,"height":11}},{"id":"0632e5f5-c7d1-4404-abe5-611a9cdaa8cf","block_type":"box","text":"writing is a legally binding contract (see section","page_number":42,"box":{"x":109,"y":417,"width":352,"height":11}},{"id":"169274de-4a6f-4f90-bc14-9fa4158c2c74","block_type":"box","text":"11 for more details regarding a Unitholder's","page_number":42,"box":{"x":111,"y":431,"width":350,"height":11}},{"id":"f19ab373-8949-4a75-bb8c-81300e3def2e","block_type":"box","text":"contract for investment).","page_number":42,"box":{"x":110,"y":444,"width":178,"height":11}},{"id":"a98c5a07-21e3-48d6-b5e9-2ccc3f5eecfe","block_type":"box","text":"(iii) Any person relying on the information contained","page_number":42,"box":{"x":63,"y":464,"width":398,"height":11}},{"id":"27ca7c99-399e-42b6-91d6-2ee92e9a1136","block_type":"box","text":"in this Prospectus, which was current at the date","page_number":42,"box":{"x":110,"y":478,"width":351,"height":10}},{"id":"d2501837-9847-4d51-8ceb-1e4d9128d358","block_type":"box","text":"shown, should check with the ACS Manager","page_number":42,"box":{"x":110,"y":491,"width":352,"height":11}},{"id":"91a4bca3-4289-480f-8a64-cf06fa5531e5","block_type":"box","text":"that this document is the most recent version","page_number":42,"box":{"x":109,"y":505,"width":352,"height":8}},{"id":"727f1cf4-9651-40c1-be0d-3a01f3166e77","block_type":"box","text":"and that no revisions have been made nor","page_number":42,"box":{"x":110,"y":518,"width":352,"height":9}},{"id":"8b943491-ca70-49d0-bc43-1a6ebda3deda","block_type":"box","text":"corrections published to the information","page_number":42,"box":{"x":110,"y":532,"width":351,"height":11}},{"id":"b19a52a4-e2cd-4808-9988-9ce84af3b56c","block_type":"box","text":"contained in this Prospectus since the date","page_number":42,"box":{"x":110,"y":546,"width":351,"height":11}},{"id":"abd24433-aed7-4faa-b854-ab29edb7c06e","block_type":"box","text":"shown.","page_number":42,"box":{"x":110,"y":560,"width":51,"height":8}},{"id":"3308bd87-b285-4a8e-be37-9420938403ff","block_type":"box","text":"This document is important and Unitholders","page_number":42,"box":{"x":109,"y":579,"width":352,"height":11}},{"id":"4557cb80-67a1-40e1-9742-ebb9ac39744c","block_type":"box","text":"should read all the information contained in it","page_number":42,"box":{"x":110,"y":593,"width":352,"height":8}},{"id":"7a2b0d7d-afd1-4613-8455-df6e401f89ed","block_type":"box","text":"carefully. If Unitholders are in any doubt as to","page_number":42,"box":{"x":110,"y":606,"width":351,"height":11}},{"id":"08ca849e-2d88-4cc0-b772-cc59ced1b916","block_type":"box","text":"the meaning of any information contained in this","page_number":42,"box":{"x":109,"y":620,"width":352,"height":11}},{"id":"73f4b05d-d240-47f8-98ef-7b67267c26df","block_type":"box","text":"document, Unitholders should consult either the","page_number":42,"box":{"x":110,"y":634,"width":351,"height":10}},{"id":"ab3bede8-082a-489b-81f9-6b59c9fe8d38","block_type":"box","text":"ACS Manager or their financial adviser. The","page_number":42,"box":{"x":109,"y":647,"width":352,"height":11}},{"id":"8021b7ef-9e92-4665-80d6-77616358c98d","block_type":"box","text":"ACS Manager has taken all reasonable care to","page_number":42,"box":{"x":109,"y":661,"width":352,"height":11}},{"id":"9b8d0066-4499-43bf-8866-9abf405e71ba","block_type":"box","text":"ensure that the facts stated herein are true and","page_number":42,"box":{"x":110,"y":675,"width":351,"height":8}},{"id":"201079a6-3df0-4949-8335-a6aaa3ff0f57","block_type":"box","text":"accurate in all material respects and that there","page_number":42,"box":{"x":110,"y":688,"width":351,"height":11}},{"id":"6aa6f841-d885-47dc-9a9a-de525023a72a","block_type":"box","text":"are no material facts, the omission of which","page_number":42,"box":{"x":110,"y":702,"width":351,"height":10}},{"id":"e4714c4f-3075-4594-84eb-83cfe07476ba","block_type":"box","text":"would make misleading any statement herein","page_number":42,"box":{"x":109,"y":716,"width":352,"height":11}},{"id":"e5302596-6861-4ca7-b029-8ba64fca412a","block_type":"box","text":"whether of fact or opinion.","page_number":42,"box":{"x":109,"y":729,"width":192,"height":11}},{"id":"ccd629ac-7d34-48d6-8ff9-2097f7f78bb8","block_type":"box","text":"(iv) Annual and half-yearly reports on the Scheme","page_number":42,"box":{"x":63,"y":749,"width":398,"height":11}},{"id":"5d631269-9144-42b3-bed4-50a9ea6a6921","block_type":"box","text":"are available free of charge on request by","page_number":42,"box":{"x":110,"y":762,"width":352,"height":12}},{"id":"a9bc02ed-cfa9-4b29-86f4-2b540f6b79c3","block_type":"box","text":"visiting the ACS Manager's website","page_number":42,"box":{"x":109,"y":776,"width":352,"height":11}},{"id":"984b05ac-e85b-4fef-9ce8-03788c46da31","block_type":"box","text":"https://www.avivainvestors.com/en","page_number":42,"box":{"x":110,"y":790,"width":261,"height":11}},{"id":"6751457d-39ee-431b-8f95-5f3748817fc5","block_type":"box","text":"gb/institutional/fund-centre/tax-transparent.html","page_number":42,"box":{"x":110,"y":803,"width":349,"height":12}},{"id":"4eeb0b98-c018-4405-9ab5-8c2db94b2b4f","block_type":"box","text":"or speaking to its Client Relationship","page_number":42,"box":{"x":110,"y":823,"width":351,"height":11}},{"id":"b7568fc7-43dc-42dc-9633-4535bd1a581e","block_type":"box","text":"Management Team on 0207 809 8135.","page_number":42,"box":{"x":110,"y":837,"width":288,"height":11}},{"id":"b3f6a313-225a-4756-a248-2f7780e65f8c","block_type":"box","text":"Telephone calls may be recorded by the ACS","page_number":42,"box":{"x":109,"y":856,"width":352,"height":11}},{"id":"dd7b655a-e4b1-4843-97db-4250cd2ab7e6","block_type":"box","text":"Manager, its delegates, their duly appointed","page_number":42,"box":{"x":110,"y":870,"width":351,"height":11}},{"id":"10b4d782-a962-4fee-a3e3-7c0bcbba7671","block_type":"box","text":"agents and any of their respective related,","page_number":42,"box":{"x":110,"y":884,"width":350,"height":11}},{"id":"96eded06-884a-4241-84f9-d3537b24c9e8","block_type":"box","text":"associated or affiliated companies for records","page_number":42,"box":{"x":110,"y":897,"width":351,"height":11}},{"id":"4a93ffb0-320e-42fc-856e-71e1f5c07a02","block_type":"box","text":"keeping, security and/or training purposes,","page_number":42,"box":{"x":110,"y":911,"width":350,"height":11}},{"id":"5d286b59-00f2-4937-994f-c88913328128","block_type":"box","text":"please see the paragraph “Telephone","page_number":42,"box":{"x":571,"y":46,"width":351,"height":11}},{"id":"011b3b21-153a-400b-964c-95ae464d75b3","block_type":"box","text":"Recording” above for further information.","page_number":42,"box":{"x":572,"y":59,"width":299,"height":12}},{"id":"753bb8a7-a24b-49f1-a102-93c60853fb60","block_type":"box","text":"The reports include the following details in","page_number":42,"box":{"x":570,"y":79,"width":352,"height":11}},{"id":"b130265e-4647-47c9-9a53-62fabf4fd11e","block_type":"box","text":"relation to each Sub-Fund: the investment","page_number":42,"box":{"x":572,"y":93,"width":351,"height":8}},{"id":"95fafc3e-cdad-4506-aabf-ec6571a4baa3","block_type":"box","text":"objectives, the policy and strategy pursued to","page_number":42,"box":{"x":571,"y":106,"width":351,"height":12}},{"id":"00d82a65-2ba5-44c6-afa1-9673a69c3b7b","block_type":"box","text":"achieve those objectives, a review of the","page_number":42,"box":{"x":571,"y":120,"width":351,"height":11}},{"id":"31cedd0d-1cac-4523-8170-c3914f4034c0","block_type":"box","text":"investment activities for the period covered by","page_number":42,"box":{"x":571,"y":134,"width":352,"height":11}},{"id":"69350a37-8fd2-4673-8609-92730c67bda2","block_type":"box","text":"the report and a list of holdings of securities. The","page_number":42,"box":{"x":570,"y":147,"width":353,"height":11}},{"id":"e4375939-659b-4613-94ce-1af4fea03c8b","block_type":"box","text":"ACS Manager must, within four months after the","page_number":42,"box":{"x":570,"y":161,"width":353,"height":11}},{"id":"37f12411-9e57-4372-84a8-0775635a63f9","block_type":"box","text":"end of each annual accounting period and two","page_number":42,"box":{"x":571,"y":175,"width":352,"height":11}},{"id":"a19fe6ab-d228-43c7-a12b-3ecfeb2cc4f9","block_type":"box","text":"months after the end of each half-yearly","page_number":42,"box":{"x":571,"y":188,"width":352,"height":11}},{"id":"a526d5d4-7935-4a19-8faa-f78d0c2e4750","block_type":"box","text":"accounting period respectively, make available","page_number":42,"box":{"x":571,"y":202,"width":352,"height":11}},{"id":"d2995b9f-e669-4d70-a4a8-8baf8d96fdcc","block_type":"box","text":"and publish such reports. For information on the","page_number":42,"box":{"x":571,"y":216,"width":352,"height":11}},{"id":"30a8df05-3d39-4ed5-8f62-1ac36c635e7f","block_type":"box","text":"publication dates pertaining to the reports of","page_number":42,"box":{"x":571,"y":229,"width":352,"height":11}},{"id":"6ffd2ceb-f453-4a0c-bae0-b1324e804137","block_type":"box","text":"each of the Sub-Funds, please refer to","page_number":42,"box":{"x":571,"y":243,"width":352,"height":11}},{"id":"d1200631-cfdf-4bd5-bedd-13f481900a2b","block_type":"box","text":"Appendix 1.","page_number":42,"box":{"x":570,"y":257,"width":87,"height":11}},{"id":"782fa7e5-72d2-4738-911c-02dc900f9549","block_type":"box","text":"(v) Complaints may be made about the operation of","page_number":42,"box":{"x":524,"y":276,"width":399,"height":11}},{"id":"a4f6fd29-43df-4dd6-84bd-5206f88e7bfb","block_type":"box","text":"the Scheme or any aspect of the service","page_number":42,"box":{"x":570,"y":290,"width":352,"height":11}},{"id":"15fd33ec-49a8-4a1d-9da7-1681d4ab31a5","block_type":"box","text":"received to the Compliance Officer of the ACS","page_number":42,"box":{"x":572,"y":303,"width":351,"height":11}},{"id":"c0372781-e0c3-45b2-8a60-dab66ff26a85","block_type":"box","text":"Manager at its registered address. Making a","page_number":42,"box":{"x":571,"y":317,"width":352,"height":11}},{"id":"27306290-4885-4f8c-ad19-a2804838b910","block_type":"box","text":"complaint will not prejudice a Unitholder's right","page_number":42,"box":{"x":571,"y":331,"width":352,"height":11}},{"id":"01a059c1-4ffa-4f93-abe9-d128f0b9445f","block_type":"box","text":"to take legal action. Written details of the ACS","page_number":42,"box":{"x":570,"y":344,"width":353,"height":12}},{"id":"e5397af2-9f8d-4c09-b571-faff030ecec5","block_type":"box","text":"Manager's complaints procedure are available","page_number":42,"box":{"x":571,"y":358,"width":352,"height":11}},{"id":"bcc9a599-91dc-4267-bafa-bb1b0f672cc8","block_type":"box","text":"from the ACS Manager upon request. Making a","page_number":42,"box":{"x":570,"y":372,"width":353,"height":11}},{"id":"3999a7fd-a261-4883-95dc-899a11559d28","block_type":"box","text":"complaint will not prejudice a Unitholder’s right","page_number":42,"box":{"x":571,"y":386,"width":352,"height":11}},{"id":"d4290bb6-ddb2-43c4-a662-bd9ecae478c9","block_type":"box","text":"to take legal proceedings.","page_number":42,"box":{"x":570,"y":399,"width":190,"height":11}},{"id":"de6bba3d-3f6a-4020-9747-694e6c7e872f","block_type":"box","text":"The ACS Manager is a participant in the","page_number":42,"box":{"x":570,"y":418,"width":353,"height":12}},{"id":"d020567b-968e-4d81-9e7f-92dfc6a8a5d2","block_type":"box","text":"Financial Services Compensation Scheme.","page_number":42,"box":{"x":572,"y":432,"width":350,"height":11}},{"id":"9de77a04-0578-4017-9137-2df020404a57","block_type":"box","text":"Unitholders may be entitled to compensation","page_number":42,"box":{"x":572,"y":446,"width":350,"height":11}},{"id":"8bbd33d8-3cbd-41c3-a38a-b409f6f6fe14","block_type":"box","text":"from the scheme if the ACS Manager cannot","page_number":42,"box":{"x":570,"y":460,"width":353,"height":11}},{"id":"f2ae9baf-b7a7-4cc1-97b1-a2744aa15357","block_type":"box","text":"meet its obligations. This depends on the type","page_number":42,"box":{"x":571,"y":473,"width":352,"height":12}},{"id":"cdfc7624-1c12-422d-8721-161c730b5d3d","block_type":"box","text":"of business and the circumstances of the claim.","page_number":42,"box":{"x":571,"y":487,"width":351,"height":9}},{"id":"85886f3c-5088-47ea-a154-37c2de4eb172","block_type":"box","text":"Further information about the Financial Services","page_number":42,"box":{"x":572,"y":500,"width":351,"height":9}},{"id":"9e1194ee-9f4e-4cb2-a299-14144b8e5464","block_type":"box","text":"Compensation Scheme is available on request,","page_number":42,"box":{"x":571,"y":514,"width":351,"height":11}},{"id":"347e9fb8-4816-4120-b0fd-f60e2f07cfa6","block_type":"box","text":"or by contacting the FSCS Limited at 10","page_number":42,"box":{"x":571,"y":528,"width":295,"height":11}},{"id":"d40539c0-0a87-42c4-b762-4dca141f982f","block_type":"box","text":"th","page_number":42,"box":{"x":867,"y":527,"width":8,"height":6}},{"id":"161e2252-d208-4181-957a-247101cc4300","block_type":"box","text":"Floor,","page_number":42,"box":{"x":882,"y":528,"width":40,"height":10}},{"id":"7c937777-3fa3-405d-9f22-906fe0dd073e","block_type":"box","text":"Beaufort House, 15 St. Botolph Street, London","page_number":42,"box":{"x":571,"y":541,"width":351,"height":12}},{"id":"2bdbad28-789c-4411-913d-9e7bdf12d2d6","block_type":"box","text":"EC3A 7QU Tel: 0800 6781100.","page_number":42,"box":{"x":572,"y":555,"width":229,"height":10}},{"id":"49b3bac6-4fb5-4daa-9af4-6277682f0e84","block_type":"box","text":"Further information regarding any","page_number":42,"box":{"x":572,"y":575,"width":351,"height":11}},{"id":"e34b2f1f-c658-4db8-a05a-86b523cdf2b4","block_type":"box","text":"compensation scheme or any other investor","page_number":42,"box":{"x":571,"y":589,"width":352,"height":11}},{"id":"ea73b16d-cbe7-4ffa-b496-92a2b83088dd","block_type":"box","text":"compensation scheme of which the ACS","page_number":42,"box":{"x":571,"y":602,"width":352,"height":11}},{"id":"e5d36a57-799a-4c81-b041-bf7b21476de3","block_type":"box","text":"Manager or any Sub-Fund is a member","page_number":42,"box":{"x":571,"y":616,"width":352,"height":11}},{"id":"a0aa05a4-d988-4f0b-ae5b-3863f3442a77","block_type":"box","text":"(including, if relevant, membership through a","page_number":42,"box":{"x":571,"y":629,"width":352,"height":12}},{"id":"b12eae68-0f03-4451-8941-e0bb39c16710","block_type":"box","text":"branch) or any alternative arrangement","page_number":42,"box":{"x":571,"y":643,"width":352,"height":11}},{"id":"2cd2d6d4-cba7-4fcb-8aeb-b555c45b6a36","block_type":"box","text":"provided, are also available on request.","page_number":42,"box":{"x":571,"y":657,"width":291,"height":11}},{"id":"cf9fabf4-8352-4995-a153-2d0f5f359b44","block_type":"box","text":"Each Sub-Fund qualifies as a non-UCITS retail","page_number":42,"box":{"x":572,"y":676,"width":350,"height":11}},{"id":"0c3a1a8c-3961-40ae-9296-3fa242691e11","block_type":"box","text":"scheme and will only be marketed in the UK.","page_number":42,"box":{"x":571,"y":690,"width":329,"height":11}},{"id":"482f59ba-4e3e-45bc-a6fe-9476cdf15104","block_type":"box","text":"(vi) Copies of the ACS Deed, key investor","page_number":42,"box":{"x":524,"y":710,"width":399,"height":11}},{"id":"65f383b0-6728-44b2-963c-45ab03fb5864","block_type":"box","text":"information document, the most recent annual","page_number":42,"box":{"x":571,"y":723,"width":351,"height":11}},{"id":"096a7baa-259b-462e-99c4-ad069bfe1c5f","block_type":"box","text":"and half-yearly reports and the COLL","page_number":42,"box":{"x":571,"y":737,"width":352,"height":11}},{"id":"b0c942ed-e6fc-4481-903a-9bd2c4c26a38","block_type":"box","text":"Sourcebook may be inspected at the ACS","page_number":42,"box":{"x":571,"y":750,"width":352,"height":12}},{"id":"3d5e1732-6751-4751-9c21-d4a535b7296d","block_type":"box","text":"Manager's registered office during Normal","page_number":42,"box":{"x":571,"y":764,"width":351,"height":11}},{"id":"18a6a5a8-c891-4a17-858b-7326b111d10d","block_type":"box","text":"Business Hours. Copies of the Prospectus may","page_number":42,"box":{"x":571,"y":778,"width":352,"height":11}},{"id":"40f08824-fb64-40a9-ab07-ad0e6b88c9dc","block_type":"box","text":"be obtained from the ACS Manager at its","page_number":42,"box":{"x":571,"y":791,"width":351,"height":12}},{"id":"b2644e72-16fa-4362-8924-02d3ac6145ab","block_type":"box","text":"registered office free of charge and copies of the","page_number":42,"box":{"x":572,"y":805,"width":350,"height":11}},{"id":"3ef23903-f7ce-4455-98a6-73793db5801c","block_type":"box","text":"ACS Deed are available free of charge to","page_number":42,"box":{"x":570,"y":819,"width":353,"height":11}},{"id":"1708c0d9-390b-4165-9fc5-4d8b8e164230","block_type":"box","text":"Unitholders and at a charge of up to £5 per copy","page_number":42,"box":{"x":572,"y":832,"width":351,"height":12}},{"id":"0e2eb0e0-b992-412d-a389-1271206c347b","block_type":"box","text":"for each ACS Deed for non-Unitholders.","page_number":42,"box":{"x":570,"y":846,"width":296,"height":9}},{"id":"ca484b04-6e4a-4998-b009-575a47e90fb0","block_type":"box","text":"(vii) The personal details of each Unitholder will be","page_number":42,"box":{"x":524,"y":866,"width":399,"height":11}},{"id":"22a9f10a-b07a-444d-80ed-398ee05d5bb9","block_type":"box","text":"held by the ACS Manager in accordance with","page_number":42,"box":{"x":571,"y":879,"width":351,"height":12}},{"id":"e1e3e745-f68d-4e4c-8892-f52c294e70bd","block_type":"box","text":"current data protection law for the purposes of","page_number":42,"box":{"x":571,"y":893,"width":352,"height":11}},{"id":"b4a11c79-853b-415d-b9a8-5fbf95b292f0","block_type":"box","text":"carrying out its agreement with each Unitholder.","page_number":42,"box":{"x":571,"y":907,"width":351,"height":11}},{"id":"ffe29771-cb05-4b75-98ff-712dea344134","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 43","page_number":43,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"bc2db5fa-be94-4ec7-bf73-a1051c2838e5","block_type":"box","text":"This may include the transfer of such data (i) to","page_number":43,"box":{"x":109,"y":46,"width":352,"height":11}},{"id":"ea316262-c9c8-49b4-87bd-7bc6fe898e43","block_type":"box","text":"other members of the Aviva Group and (ii) to","page_number":43,"box":{"x":110,"y":59,"width":351,"height":11}},{"id":"35283042-2ed5-4354-9d41-c7362a3746e0","block_type":"box","text":"other businesses (including their offices outside","page_number":43,"box":{"x":110,"y":73,"width":351,"height":11}},{"id":"5050d4b9-c507-49d2-97dd-b845a5f504fe","block_type":"box","text":"the European Union) where the transfer is","page_number":43,"box":{"x":109,"y":87,"width":352,"height":11}},{"id":"8766f824-5e46-4331-8205-8e3377b1b9ae","block_type":"box","text":"necessary for the provision of services in","page_number":43,"box":{"x":110,"y":100,"width":351,"height":11}},{"id":"408a72cb-5cd3-47c5-8d33-a211b3ba7ea6","block_type":"box","text":"relation to any of the Aviva Group's investment","page_number":43,"box":{"x":110,"y":114,"width":351,"height":11}},{"id":"fbcb9ef9-2149-4149-b3f2-a9ca4a5eeeaa","block_type":"box","text":"products or services. Unitholders have the right","page_number":43,"box":{"x":110,"y":128,"width":352,"height":11}},{"id":"25e317c1-e120-4a31-b005-d6873b457240","block_type":"box","text":"to access their personal data processed by the","page_number":43,"box":{"x":109,"y":142,"width":352,"height":11}},{"id":"ac00e20c-b946-41f8-ae63-97a18df1f471","block_type":"box","text":"Aviva Group together with the right to object to","page_number":43,"box":{"x":109,"y":155,"width":352,"height":11}},{"id":"04766b81-67f1-44a7-8a1b-639288871a22","block_type":"box","text":"the processing of such data for legitimate","page_number":43,"box":{"x":109,"y":169,"width":352,"height":11}},{"id":"689e107c-3d81-4c7c-a389-e9fb0e494f9f","block_type":"box","text":"reasons. Information regarding the ACS","page_number":43,"box":{"x":110,"y":182,"width":351,"height":12}},{"id":"bb6c87fb-b750-4c76-bb1c-635b9b94769b","block_type":"box","text":"Manager's data protection policies is available","page_number":43,"box":{"x":110,"y":196,"width":351,"height":11}},{"id":"b573b62e-36b2-4188-830c-294e0064c706","block_type":"box","text":"upon request.","page_number":43,"box":{"x":110,"y":210,"width":100,"height":11}},{"id":"de27d328-c7b7-439c-a4bb-260b5702f8ec","block_type":"box","text":"37. Client Money","page_number":43,"box":{"x":74,"y":235,"width":151,"height":11}},{"id":"c9a0c405-a4b6-454c-bf01-c705c2e1c41b","block_type":"box","text":"(i) All money received from you or due to be paid","page_number":43,"box":{"x":63,"y":255,"width":398,"height":11}},{"id":"5e78895e-3a47-4160-a032-57f8dd777e0b","block_type":"box","text":"to you will be held in bank accounts domiciled in","page_number":43,"box":{"x":109,"y":269,"width":352,"height":11}},{"id":"e674d2e5-f664-4bca-afd8-73814c58eb22","block_type":"box","text":"the UK. When the money is held outside the","page_number":43,"box":{"x":109,"y":282,"width":352,"height":11}},{"id":"c6091221-56d3-4305-a700-b60caf1477ba","block_type":"box","text":"Delivery versus Payment window (defined","page_number":43,"box":{"x":110,"y":296,"width":351,"height":11}},{"id":"90e21839-326e-490d-858e-00ad2d94a6f6","block_type":"box","text":"above) it will be held in a client money bank","page_number":43,"box":{"x":110,"y":309,"width":352,"height":12}},{"id":"c74e56d3-2892-4803-af5b-10f4e77a81e1","block_type":"box","text":"account and segregated from the ACS","page_number":43,"box":{"x":110,"y":323,"width":351,"height":11}},{"id":"a4d7b908-4430-4f53-9ff2-3ad64d03e4eb","block_type":"box","text":"Manager’s own money as required by the FCA’s","page_number":43,"box":{"x":110,"y":337,"width":351,"height":11}},{"id":"4053d24c-eae0-4e2d-81e6-013d987b14d9","block_type":"box","text":"Client Asset (CASS) Rules.","page_number":43,"box":{"x":110,"y":350,"width":201,"height":11}},{"id":"93ac8746-a2a0-45d5-9b1f-f5e8843812da","block_type":"box","text":"Money held in client money bank accounts will","page_number":43,"box":{"x":110,"y":370,"width":351,"height":11}},{"id":"f31bcdf9-fa69-4c95-b6f1-4b5e17ebe6cb","block_type":"box","text":"not accrue interest. No interest will be paid to","page_number":43,"box":{"x":110,"y":384,"width":351,"height":11}},{"id":"67f799a8-2601-4101-a657-aa2bf560cab8","block_type":"box","text":"you, and none will be retained by the ACS","page_number":43,"box":{"x":109,"y":397,"width":352,"height":11}},{"id":"ea288be0-2f15-478c-8edb-05ecd437e55a","block_type":"box","text":"Manager.","page_number":43,"box":{"x":110,"y":411,"width":68,"height":11}},{"id":"a64a810c-f7a6-4087-9327-5c3bc556af4d","block_type":"box","text":"(ii) The ACS Manager will send an annual client","page_number":43,"box":{"x":63,"y":430,"width":399,"height":12}},{"id":"fe4e773c-a33c-4adf-8f6a-5e1f3f98c170","block_type":"box","text":"money statement if it holds any client money for","page_number":43,"box":{"x":110,"y":444,"width":352,"height":11}},{"id":"1f6f484a-0e68-4479-b7a5-940f78599e64","block_type":"box","text":"you on the statement date.","page_number":43,"box":{"x":109,"y":458,"width":197,"height":11}},{"id":"81438b7c-3740-4c51-8951-446b4598b3bf","block_type":"box","text":"(iii) Where the ACS Manager holds money for you","page_number":43,"box":{"x":63,"y":477,"width":398,"height":12}},{"id":"11bfb36d-0509-4634-9ff4-58a675f5debb","block_type":"box","text":"and has been unable to return it to you for a","page_number":43,"box":{"x":110,"y":491,"width":352,"height":11}},{"id":"9f96397b-4871-493b-8337-0d8189b74354","block_type":"box","text":"period of at least six years, despite trying to","page_number":43,"box":{"x":110,"y":505,"width":351,"height":11}},{"id":"db1d102e-cbfb-4449-acb3-8ddd49d34e3d","block_type":"box","text":"contact you, the CASS Rules permit us to pay","page_number":43,"box":{"x":110,"y":518,"width":352,"height":11}},{"id":"ec4efe1f-6392-47c0-9cea-632d2c163dd0","block_type":"box","text":"the unclaimed client money (excluding","page_number":43,"box":{"x":109,"y":532,"width":352,"height":11}},{"id":"e5344b9e-f055-4d73-8f23-926eadf04591","block_type":"box","text":"unclaimed distributions of income) to charity.","page_number":43,"box":{"x":110,"y":546,"width":351,"height":11}},{"id":"24d65ca5-89f4-488e-ba19-88cc6f0fec63","block_type":"box","text":"The payment of unclaimed money to charity","page_number":43,"box":{"x":109,"y":559,"width":353,"height":12}},{"id":"b82cfd11-f7ad-4f35-b24c-7a8400781f22","block_type":"box","text":"does not prevent you from claiming the money","page_number":43,"box":{"x":110,"y":573,"width":352,"height":11}},{"id":"72d0e540-d515-4d18-a8f8-d8a1df02ba0c","block_type":"box","text":"in the future, and we will honour all valid claims","page_number":43,"box":{"x":110,"y":587,"width":351,"height":10}},{"id":"b43a982f-dc4d-4ebd-8ae1-1b5ec53ba3cf","block_type":"box","text":"whether or not the unclaimed money has been","page_number":43,"box":{"x":109,"y":600,"width":352,"height":11}},{"id":"a2a21b4a-c40e-49c6-8733-86b6393aa002","block_type":"box","text":"paid to charity.","page_number":43,"box":{"x":110,"y":614,"width":107,"height":11}},{"id":"3c3083c7-7aa3-4502-8664-d0ab2a2d89cb","block_type":"box","text":"38. Restrictions on investment and holding of","page_number":43,"box":{"x":74,"y":640,"width":388,"height":11}},{"id":"39e250a6-2ba1-4e8b-9dc6-6c155c47158c","block_type":"box","text":"Aviva Plc shares and other Aviva securities","page_number":43,"box":{"x":121,"y":653,"width":340,"height":9}},{"id":"7c9859e9-eb87-4cf0-93ea-e69177df2f1d","block_type":"box","text":"All Sub-Funds, with the exception of the AI UK","page_number":43,"box":{"x":109,"y":673,"width":353,"height":11}},{"id":"3bb570a2-57f6-4e0c-9613-e7880e90c742","block_type":"box","text":"Listed Equity Fund and the AI UK Listed Equity","page_number":43,"box":{"x":110,"y":687,"width":352,"height":11}},{"id":"1321b609-e853-4cfe-9ce6-17535ac107f4","block_type":"box","text":"Income Fund, are prohibited from directly","page_number":43,"box":{"x":110,"y":700,"width":352,"height":11}},{"id":"4f231916-11bd-4fb1-8bed-96ae66352975","block_type":"box","text":"investing in or holding Aviva Plc shares. The AI","page_number":43,"box":{"x":110,"y":714,"width":350,"height":11}},{"id":"5a0f3b02-d6cf-42a2-b40d-9f7545a37dab","block_type":"box","text":"UK Listed Equity Fund and the AI UK Listed","page_number":43,"box":{"x":110,"y":728,"width":351,"height":11}},{"id":"9311dc1f-60ec-48b1-a374-eb8272a8a927","block_type":"box","text":"Equity Income Fund both received holdings of","page_number":43,"box":{"x":110,"y":741,"width":352,"height":11}},{"id":"aca998ee-98a3-437e-b0b7-47c722a492c4","block_type":"box","text":"Aviva Plc shares on launch of the Sub-Funds,","page_number":43,"box":{"x":109,"y":755,"width":352,"height":10}},{"id":"12fc0223-3b04-45dd-ac02-bdcee0c3e2b8","block_type":"box","text":"via an in-specie transfer (‘Legacy Holdings’).","page_number":43,"box":{"x":109,"y":768,"width":352,"height":12}},{"id":"7f26385c-49df-43bd-94fb-7ab481b0cde6","block_type":"box","text":"These Sub-Funds are permitted to continue to","page_number":43,"box":{"x":109,"y":782,"width":352,"height":11}},{"id":"b197ab15-5fc3-40b6-b975-cecbdd4c764b","block_type":"box","text":"hold these Legacy Holdings but are prohibited","page_number":43,"box":{"x":110,"y":796,"width":351,"height":11}},{"id":"079a8067-a3df-4682-9a43-ecb3b5040cf8","block_type":"box","text":"from making any new direct investment in Aviva","page_number":43,"box":{"x":109,"y":809,"width":353,"height":12}},{"id":"f8de5a44-85f2-490f-8d0c-29670d95f12e","block_type":"box","text":"Plc shares.","page_number":43,"box":{"x":110,"y":823,"width":80,"height":9}},{"id":"321f8f91-012e-4b58-bb92-d705c36af07e","block_type":"box","text":"The ACS Manager has determined to extend","page_number":43,"box":{"x":109,"y":850,"width":352,"height":11}},{"id":"87f2a2ee-55ba-4b3a-ada1-88f92de9dd39","block_type":"box","text":"these restrictions, and with effect from 17","page_number":43,"box":{"x":109,"y":864,"width":352,"height":10}},{"id":"73d893ed-8501-4ccd-9201-657c91505347","block_type":"box","text":"February 2020, in addition to the restrictions","page_number":43,"box":{"x":110,"y":878,"width":351,"height":11}},{"id":"d5909643-125e-4a5b-918f-3cec5a989a51","block_type":"box","text":"outlined above, Sub-Funds that are managed by","page_number":43,"box":{"x":110,"y":891,"width":352,"height":12}},{"id":"912b2c8d-13e0-4a78-9370-5e72afebeeef","block_type":"box","text":"investment managers within the Aviva group,","page_number":43,"box":{"x":110,"y":905,"width":350,"height":11}},{"id":"d220c3b1-cef0-4fff-9d5a-cd9ed6725a30","block_type":"box","text":"such as Aviva Investors Global Services","page_number":43,"box":{"x":571,"y":46,"width":352,"height":9}},{"id":"2319df9a-e41f-424c-8998-724d1f28f58f","block_type":"box","text":"Limited, shall no longer be permitted to indirectly","page_number":43,"box":{"x":572,"y":60,"width":351,"height":11}},{"id":"2aab95d3-a8b6-4dc2-8251-44de4fdbc119","block_type":"box","text":"invest in or hold Aviva Plc shares, or directly or","page_number":43,"box":{"x":571,"y":73,"width":352,"height":11}},{"id":"bfb29c40-c388-4311-bfcc-0655e6543207","block_type":"box","text":"indirectly invest in or hold other securities issued","page_number":43,"box":{"x":571,"y":87,"width":351,"height":11}},{"id":"92bd77a3-df20-42ce-a718-58ee4b249b32","block_type":"box","text":"by Aviva Plc such as bonds, commercial paper","page_number":43,"box":{"x":571,"y":100,"width":352,"height":11}},{"id":"7a5f2b03-18c4-464e-94b3-de547668c4bc","block_type":"box","text":"and derivatives of these securities (collectively","page_number":43,"box":{"x":571,"y":114,"width":352,"height":11}},{"id":"bcf3b69b-b45f-4432-bbbc-b6cc24b0c1ae","block_type":"box","text":"‘Aviva Securities’).","page_number":43,"box":{"x":571,"y":128,"width":135,"height":11}},{"id":"28512c63-9eca-42bb-8d38-2ef6e890e58d","block_type":"box","text":"The prohibition on indirect exposure to Aviva","page_number":43,"box":{"x":570,"y":155,"width":353,"height":11}},{"id":"81444f6b-de4e-4679-a90d-f64e9a2ff7c7","block_type":"box","text":"Securities shall not include:","page_number":43,"box":{"x":571,"y":169,"width":201,"height":8}},{"id":"89799f90-8525-4fb8-961f-71505f669228","block_type":"box","text":"","page_number":43,"box":{"x":571,"y":200,"width":6,"height":4}},{"id":"824e2719-3253-497d-a0a9-c8d803fe833b","block_type":"box","text":"indirect exposure to a financial index, for","page_number":43,"box":{"x":607,"y":197,"width":316,"height":11}},{"id":"73e2d5f9-3bac-4b5e-8971-5e7ee752fe0e","block_type":"box","text":"example through an index future, where","page_number":43,"box":{"x":607,"y":210,"width":316,"height":12}},{"id":"133e18c4-be16-4594-b4b7-209e8ebb81cf","block_type":"box","text":"Aviva is a constituent of the financial index","page_number":43,"box":{"x":606,"y":224,"width":317,"height":9}},{"id":"e7599192-1eef-44fe-baaf-1e935892cb26","block_type":"box","text":"and,","page_number":43,"box":{"x":607,"y":238,"width":30,"height":10}},{"id":"a893a729-8045-4b68-8dc8-586846b78714","block_type":"box","text":"","page_number":43,"box":{"x":571,"y":261,"width":6,"height":5}},{"id":"7604a845-af28-45d7-a295-8b2d699bfd00","block_type":"box","text":"investment in other funds managed by third","page_number":43,"box":{"x":607,"y":258,"width":315,"height":11}},{"id":"2301143a-98f1-44a3-b44f-7a12d17be748","block_type":"box","text":"parties, where the underlying funds may","page_number":43,"box":{"x":607,"y":272,"width":316,"height":11}},{"id":"001283eb-9c89-4b57-a6d1-6df617d288b5","block_type":"box","text":"have exposure to Aviva Securities.","page_number":43,"box":{"x":607,"y":285,"width":255,"height":12}},{"id":"833962f7-e97b-4b13-9359-32a4fec85da6","block_type":"box","text":"For further details on the Funds which are","page_number":43,"box":{"x":572,"y":305,"width":351,"height":9}},{"id":"0151282c-7854-45ef-85e2-830804e283f4","block_type":"box","text":"impacted refer to Appendix 6 Investment","page_number":43,"box":{"x":571,"y":319,"width":352,"height":11}},{"id":"c8a269df-881e-434c-b8e5-2833411c19ab","block_type":"box","text":"Restrictions applicable to the Scheme.","page_number":43,"box":{"x":572,"y":332,"width":282,"height":11}},{"id":"a8a4c529-c610-4a13-8f97-3172694f501d","block_type":"box","text":"39. Firm-level stewardship and ESG","page_number":43,"box":{"x":535,"y":358,"width":387,"height":11}},{"id":"a579fcf5-2af5-4ea1-bf46-b84c55ba28f3","block_type":"box","text":"Integration approach","page_number":43,"box":{"x":583,"y":372,"width":165,"height":11}},{"id":"85390b33-3792-4781-a93b-ccdc6f6c6d1b","block_type":"box","text":"The Investment Manager endeavours to comply","page_number":43,"box":{"x":547,"y":397,"width":376,"height":11}},{"id":"0fcba7fa-c66a-45e8-93a0-fce42c84b36f","block_type":"box","text":"with the requirements of the UK Stewardship Code.","page_number":43,"box":{"x":547,"y":411,"width":375,"height":11}},{"id":"1d110e06-153d-4117-8526-172ce5e97d6e","block_type":"box","text":"Stewardship is the responsible allocation,","page_number":43,"box":{"x":547,"y":424,"width":375,"height":11}},{"id":"7a626570-b92f-47ce-89e8-62a2134fc30a","block_type":"box","text":"management and oversight of capital to create","page_number":43,"box":{"x":548,"y":438,"width":374,"height":11}},{"id":"832ff063-6d20-45e4-ad19-957bcfc72d0f","block_type":"box","text":"long-term sustainable value for clients and","page_number":43,"box":{"x":548,"y":452,"width":374,"height":11}},{"id":"35bb6131-2bb0-4e14-b280-618f7743f9f8","block_type":"box","text":"beneficiaries. Environmental and social factors, in","page_number":43,"box":{"x":547,"y":465,"width":375,"height":11}},{"id":"0722e0fb-b113-463a-ba21-c9e36be4236b","block_type":"box","text":"addition to governance, can be material issues for","page_number":43,"box":{"x":547,"y":479,"width":376,"height":11}},{"id":"65fbb459-bf09-4d75-a35a-097308a03e8b","block_type":"box","text":"fund managers to consider when making","page_number":43,"box":{"x":547,"y":493,"width":375,"height":11}},{"id":"fa16ea02-eadd-4507-a33f-5657a5d835e5","block_type":"box","text":"investment decisions and undertaking stewardship.","page_number":43,"box":{"x":548,"y":506,"width":374,"height":12}},{"id":"259a9b94-7da0-49ea-a2f0-4d1d0b1df75a","block_type":"box","text":"We therefore seek to integrate financially material","page_number":43,"box":{"x":547,"y":520,"width":375,"height":11}},{"id":"a953ca1b-8c9c-472a-a2a1-6f7cd85f50dd","block_type":"box","text":"ESG insights into the investment process to allow","page_number":43,"box":{"x":548,"y":534,"width":375,"height":11}},{"id":"2dde16e3-076f-4ce1-b11f-0d1966bd37a0","block_type":"box","text":"for better risk management, the identification of","page_number":43,"box":{"x":547,"y":547,"width":376,"height":11}},{"id":"dff16a34-e7a9-44ae-a973-78624ebb11d1","block_type":"box","text":"investment opportunities and to support the","page_number":43,"box":{"x":548,"y":561,"width":375,"height":11}},{"id":"29023fbe-9be9-4dc2-b3c4-6248b86c40be","block_type":"box","text":"delivery of long-term risk-adjusted returns. These","page_number":43,"box":{"x":547,"y":575,"width":376,"height":11}},{"id":"8a3f72bc-9a06-4811-ac0d-23777b79631f","block_type":"box","text":"considerations are not binding on the investment","page_number":43,"box":{"x":547,"y":588,"width":376,"height":12}},{"id":"00599c5e-0a11-4688-8209-82a40e646b44","block_type":"box","text":"manager's decision beyond any specific criteria in","page_number":43,"box":{"x":548,"y":602,"width":374,"height":11}},{"id":"ca67ac8a-ff1a-40ed-95e3-90716ab29846","block_type":"box","text":"the relevant mandate or in this prospectus. ESG","page_number":43,"box":{"x":547,"y":615,"width":375,"height":12}},{"id":"5f701aa4-2423-46e7-a52f-0e9aff573a62","block_type":"box","text":"insights also inform our stewardship activities,","page_number":43,"box":{"x":548,"y":629,"width":374,"height":11}},{"id":"18602fa8-8190-4f86-af53-bc9ae3578c3c","block_type":"box","text":"including considering the potential or actual","page_number":43,"box":{"x":548,"y":643,"width":374,"height":11}},{"id":"d03a0b14-d813-48d9-a3ac-345f1d37b4b5","block_type":"box","text":"material risk that sustainability issues may have on","page_number":43,"box":{"x":548,"y":657,"width":374,"height":11}},{"id":"92f8a8c9-3a30-45d2-8269-7b8b1d926128","block_type":"box","text":"an investment.","page_number":43,"box":{"x":547,"y":670,"width":107,"height":9}},{"id":"1b0be8e8-208c-4cc5-ba30-fdf5314cb8a1","block_type":"box","text":"For more information on how the Investment","page_number":43,"box":{"x":548,"y":690,"width":375,"height":9}},{"id":"5b99c386-b707-47e3-9b73-5a6769940b7f","block_type":"box","text":"Manager carries out this activity and meets the","page_number":43,"box":{"x":548,"y":704,"width":375,"height":11}},{"id":"86d24165-fb54-4cba-9b00-1ca00ed38c00","block_type":"box","text":"requirements of the UK Stewardship Code, as well","page_number":43,"box":{"x":548,"y":717,"width":374,"height":11}},{"id":"12aa692a-3f43-49f7-95cd-ad8b3127e340","block_type":"box","text":"as details about Aviva Investors’ firmwide policies,","page_number":43,"box":{"x":547,"y":731,"width":375,"height":11}},{"id":"5c377bcf-b5cb-4978-9efc-383d26922af5","block_type":"box","text":"please see","page_number":43,"box":{"x":547,"y":745,"width":119,"height":10}},{"id":"4eb9b21c-bf76-403c-8b37-f63a8ee300aa","block_type":"box","text":"www.avivainvestors.com/en","page_number":43,"box":{"x":711,"y":744,"width":211,"height":9}},{"id":"d4d7d8ea-bec3-471a-8d58-79abd06bc62d","block_type":"box","text":"gb/about/responsible-investment/policies-and","page_number":43,"box":{"x":547,"y":758,"width":341,"height":11}},{"id":"6cb7fe0c-0e71-4363-9358-d29d5d7939b2","block_type":"box","text":"documents","page_number":43,"box":{"x":547,"y":772,"width":81,"height":9}},{"id":"9df8df58-bcc1-4b3b-87ca-364f4060b955","block_type":"box","text":". These disclosures are consistent with","page_number":43,"box":{"x":630,"y":772,"width":292,"height":9}},{"id":"f4ce7a67-0b54-411a-baa2-d8e5a884121f","block_type":"box","text":"Aviva Investors’ obligations under the FCA Rules","page_number":43,"box":{"x":547,"y":785,"width":376,"height":12}},{"id":"dc592f00-f066-4ec6-b1c7-f54a167536c5","block_type":"box","text":"as set out in COBS 2.2B to disclose our approach","page_number":43,"box":{"x":547,"y":799,"width":375,"height":11}},{"id":"d3e1b15d-ffc8-423a-aed0-43aa51d242a2","block_type":"box","text":"to engagement and voting.","page_number":43,"box":{"x":547,"y":813,"width":197,"height":11}},{"id":"0e899113-3a94-4cbc-819e-f6a58f79b674","block_type":"box","text":"40. Benchmark Regulation","page_number":43,"box":{"x":535,"y":838,"width":229,"height":11}},{"id":"e3ebebbd-78a8-4593-8f87-d9f1a8c734a7","block_type":"box","text":"The ACS Manager is required under the Benchmark","page_number":43,"box":{"x":535,"y":871,"width":388,"height":12}},{"id":"c9f6a1d2-c9c0-4b77-ba34-83bf3c8c1173","block_type":"box","text":"Regulation to set out whether the benchmarks used","page_number":43,"box":{"x":536,"y":885,"width":386,"height":11}},{"id":"03347d1a-cdf8-454d-a06f-be0a5434f68e","block_type":"box","text":"by the Sub-Funds are provided by administrators in","page_number":43,"box":{"x":536,"y":899,"width":386,"height":11}},{"id":"210690c2-544d-4ba2-9f7f-67ef1905f04e","block_type":"box","text":"the UK and are included in the FCA Benchmarks","page_number":43,"box":{"x":535,"y":912,"width":388,"height":9}},{"id":"b494a6d1-610b-41e9-bdec-5ec47f03e499","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 44","page_number":44,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"419f7a16-7869-4884-8fc6-163e5faeab69","block_type":"box","text":"Register, or by administrators who have registered","page_number":44,"box":{"x":75,"y":46,"width":386,"height":11}},{"id":"3427b897-0a37-4e87-82e4-325927537e49","block_type":"box","text":"with the European Securities and Markets Authority","page_number":44,"box":{"x":74,"y":59,"width":388,"height":12}},{"id":"c1873792-ac14-48fd-92cf-ce2678759f2a","block_type":"box","text":"(“ESMA”) as an EEA benchmark administrator and","page_number":44,"box":{"x":74,"y":73,"width":387,"height":11}},{"id":"0c718fc0-f494-4364-a5d7-5b1099e35d83","block_type":"box","text":"are included in the ESMA Register of Benchmarks.","page_number":44,"box":{"x":74,"y":87,"width":387,"height":11}},{"id":"2b72217c-fd34-47de-b019-71759c3a183e","block_type":"box","text":"The FCA has confirmed equivalence which means","page_number":44,"box":{"x":74,"y":100,"width":387,"height":11}},{"id":"675bba07-af23-407a-b423-230d03d7ea8b","block_type":"box","text":"any EEA benchmark administrators included in the","page_number":44,"box":{"x":74,"y":114,"width":387,"height":11}},{"id":"fbfe8f3e-fefe-422a-b18d-65adba8e6c17","block_type":"box","text":"ESMA Register of Benchmarks will be able to access","page_number":44,"box":{"x":75,"y":128,"width":386,"height":11}},{"id":"9617c5d4-fab4-480a-9323-8be6e1b9e24c","block_type":"box","text":"UK markets and UK supervised entities can continue","page_number":44,"box":{"x":75,"y":142,"width":386,"height":10}},{"id":"26dfe28a-b103-4350-9682-8b8830f38627","block_type":"box","text":"to use their benchmarks on that basis. The UK","page_number":44,"box":{"x":74,"y":155,"width":388,"height":9}},{"id":"7270d826-cdf7-4cd9-84ea-8f32e41d2e06","block_type":"box","text":"Government has extended the transitional period for","page_number":44,"box":{"x":74,"y":169,"width":388,"height":11}},{"id":"b502684c-a907-4307-be0a-891c87b5e3bd","block_type":"box","text":"all third country benchmarks set out in Benchmark","page_number":44,"box":{"x":74,"y":182,"width":388,"height":11}},{"id":"3c70ba12-0e6e-4bea-b989-f8aa51dc1727","block_type":"box","text":"Regulation from the end of 2022 to the end of 2025.","page_number":44,"box":{"x":75,"y":196,"width":385,"height":11}},{"id":"dcef579a-0f4d-4493-94ec-70b4e17902eb","block_type":"box","text":"That means UK supervised entities are permitted to","page_number":44,"box":{"x":74,"y":210,"width":387,"height":11}},{"id":"89eed2ab-0fdc-43ea-8737-d7003bc89f51","block_type":"box","text":"use all third country benchmarks until the end of 2025","page_number":44,"box":{"x":74,"y":223,"width":387,"height":11}},{"id":"2f5281a2-f243-408e-9f45-604ad23dd813","block_type":"box","text":"without further action from the EEA benchmark","page_number":44,"box":{"x":74,"y":237,"width":388,"height":9}},{"id":"4d6a61c2-8a2b-40c0-a7e2-3e78254574d6","block_type":"box","text":"administrator.","page_number":44,"box":{"x":74,"y":251,"width":99,"height":8}},{"id":"2e2b0e64-e498-4d50-a6b8-7a257a150709","block_type":"box","text":"As at the date of this Prospectus, the relevant","page_number":44,"box":{"x":74,"y":278,"width":388,"height":11}},{"id":"eba574e8-6c47-4de2-8a02-88ef221be2dc","block_type":"box","text":"benchmark administrators are MSCI® Limited,","page_number":44,"box":{"x":74,"y":291,"width":386,"height":11}},{"id":"4ab98842-9fb2-4c4f-99e7-d73fdac2d373","block_type":"box","text":"S&P® Dow Jones Indices LLC, ICE Benchmark","page_number":44,"box":{"x":74,"y":305,"width":388,"height":11}},{"id":"e232c05d-91fe-4123-be7c-00b2b25d70da","block_type":"box","text":"Administration Limited, JPX Market Innovation &","page_number":44,"box":{"x":74,"y":319,"width":388,"height":10}},{"id":"0275c6c7-028c-4791-b487-bc658ec17af4","block_type":"box","text":"Research, Inc, J.P. Morgan Securities LLC, FTSE®","page_number":44,"box":{"x":75,"y":332,"width":387,"height":12}},{"id":"33641f7e-a716-4ffa-8456-51692c423c05","block_type":"box","text":"International Limited, Bloomberg Index Services","page_number":44,"box":{"x":75,"y":346,"width":386,"height":11}},{"id":"a9e63215-b7cc-4778-8606-8f591b8345d9","block_type":"box","text":"Limited, and The Bank of England, who have","page_number":44,"box":{"x":75,"y":360,"width":386,"height":11}},{"id":"0d42bda7-07b7-40fa-b4e8-a3d584483822","block_type":"box","text":"registered, as required, as a Benchmark","page_number":44,"box":{"x":75,"y":374,"width":387,"height":11}},{"id":"4ea880df-e9e3-4b5b-90be-c7610906b4a2","block_type":"box","text":"Administrator in respect of those benchmarks","page_number":44,"box":{"x":74,"y":387,"width":387,"height":11}},{"id":"d532c525-bea2-4b9d-b49a-c1e054c0c699","block_type":"box","text":"referred to in this Prospectus.","page_number":44,"box":{"x":75,"y":401,"width":216,"height":11}},{"id":"9db7ec88-815e-4f42-b70c-25d9f51f212e","block_type":"box","text":"41. Index Disclaimers","page_number":44,"box":{"x":74,"y":426,"width":189,"height":9}},{"id":"5fba06a6-7ff6-4a01-8a94-fc2eaf1c3d3a","block_type":"box","text":"Where a Sub-Fund refers to an index in its","page_number":44,"box":{"x":74,"y":446,"width":387,"height":9}},{"id":"dc0dc1f7-c8bd-4563-a1d5-f65fe84374fd","block_type":"box","text":"investment objective and or policy, the index provider","page_number":44,"box":{"x":74,"y":460,"width":388,"height":11}},{"id":"d8b83248-1063-4330-a483-113c4e0f9d0a","block_type":"box","text":"does not approve, sponsor, advise, review,","page_number":44,"box":{"x":74,"y":473,"width":386,"height":11}},{"id":"cbba1d5f-5487-4f77-b362-95879eea4c70","block_type":"box","text":"recommend, endorse, produce or promote the Sub","page_number":44,"box":{"x":75,"y":487,"width":386,"height":11}},{"id":"123b4e17-ace9-4a9d-a587-fac53337a17c","block_type":"box","text":"Fund, and in particular for the following index","page_number":44,"box":{"x":75,"y":501,"width":387,"height":11}},{"id":"4bd840dd-5407-46a0-b557-1c48f7641b97","block_type":"box","text":"providers, please note the following:","page_number":44,"box":{"x":74,"y":514,"width":266,"height":11}},{"id":"c923d667-e96f-4056-9114-1383fad4272d","block_type":"box","text":"Index","page_number":44,"box":{"x":72,"y":542,"width":42,"height":9}},{"id":"aa540160-e849-40fa-b133-d654e939d7cc","block_type":"box","text":"provider","page_number":44,"box":{"x":72,"y":558,"width":66,"height":11}},{"id":"037ec71c-98a8-4c2d-96c7-8c331d8f8911","block_type":"box","text":"Disclaimer","page_number":44,"box":{"x":197,"y":542,"width":83,"height":9}},{"id":"b412d77a-3445-4c16-a615-483e2ded31cb","block_type":"box","text":"FTSE","page_number":44,"box":{"x":72,"y":574,"width":40,"height":9}},{"id":"fdc2ef52-00e9-466b-be55-562c4ab3f15b","block_type":"box","text":"International","page_number":44,"box":{"x":72,"y":588,"width":90,"height":9}},{"id":"22c3de59-1f64-46ae-b0c1-7e7b899549d7","block_type":"box","text":"Limited","page_number":44,"box":{"x":72,"y":602,"width":52,"height":8}},{"id":"c71ed6b0-1f98-41ce-ba96-f9f3baff992b","block_type":"box","text":"The Sub-Funds have been","page_number":44,"box":{"x":196,"y":574,"width":272,"height":9}},{"id":"fc12431c-7664-43db-b077-308d874fbd17","block_type":"box","text":"developed solely by Aviva Investors","page_number":44,"box":{"x":196,"y":588,"width":272,"height":11}},{"id":"d04fcc95-c68e-469f-8dc5-30ac825370f7","block_type":"box","text":"UK Fund Services Limited. The Sub","page_number":44,"box":{"x":197,"y":601,"width":271,"height":9}},{"id":"c8dd2fbf-25f8-4c53-ae17-80da70ed630d","block_type":"box","text":"Funds are not in any way connected","page_number":44,"box":{"x":197,"y":615,"width":271,"height":11}},{"id":"77dabe48-0f25-4192-92c9-bb80ab0e2550","block_type":"box","text":"to or sponsored, endorsed, sold or","page_number":44,"box":{"x":196,"y":629,"width":273,"height":11}},{"id":"15dc7f1e-e019-45b3-aebd-5532b0b4e2f9","block_type":"box","text":"promoted by the London Stock","page_number":44,"box":{"x":196,"y":642,"width":273,"height":12}},{"id":"2decda58-9af2-438f-9a27-b0326d304a63","block_type":"box","text":"Exchange Group plc and its group","page_number":44,"box":{"x":197,"y":656,"width":271,"height":11}},{"id":"cc43f8ac-15ea-42fd-94c5-2cb5adbd5b08","block_type":"box","text":"undertakings (collectively, the “LSE","page_number":44,"box":{"x":197,"y":670,"width":270,"height":11}},{"id":"a57cdfa6-681e-402a-8988-71bf57ac33e7","block_type":"box","text":"Group”). FTSE International is a","page_number":44,"box":{"x":196,"y":683,"width":272,"height":11}},{"id":"3c54202f-1c22-4d63-b254-2965e2f81205","block_type":"box","text":"trading name of certain of the LSE","page_number":44,"box":{"x":196,"y":697,"width":272,"height":11}},{"id":"5757d9a1-f9c9-4643-86a4-3b8c3b2dc029","block_type":"box","text":"Group companies. All rights in FTSE","page_number":44,"box":{"x":196,"y":711,"width":272,"height":11}},{"id":"2495d3a6-a188-4882-b246-eef28331c81e","block_type":"box","text":"International vest in the relevant LSE","page_number":44,"box":{"x":197,"y":724,"width":270,"height":9}},{"id":"ca093b24-d1ba-4d7a-b7eb-9e29d95f5bfe","block_type":"box","text":"Group company which owns the","page_number":44,"box":{"x":196,"y":738,"width":272,"height":11}},{"id":"61cec6bd-6639-4966-a7ec-b856a36d03f9","block_type":"box","text":"Index. “FTSE®”, “FTSE International","page_number":44,"box":{"x":197,"y":752,"width":271,"height":10}},{"id":"23c2b87c-d87a-4748-8641-44cc715f2f0f","block_type":"box","text":"®”, “Russell®”, “FTSE Russell®”, are","page_number":44,"box":{"x":195,"y":765,"width":273,"height":11}},{"id":"4ffbbec3-9d63-4e0b-9501-b042ed258672","block_type":"box","text":"a trade mark(s) of the relevant LSE","page_number":44,"box":{"x":196,"y":779,"width":271,"height":11}},{"id":"b491063b-714d-4b43-b687-0d3ab9584bfb","block_type":"box","text":"Group company and is/are used by","page_number":44,"box":{"x":196,"y":793,"width":273,"height":11}},{"id":"77fe5e1e-b7e5-4f89-bcd5-396671f037ac","block_type":"box","text":"any other LSE Group company under","page_number":44,"box":{"x":196,"y":806,"width":273,"height":12}},{"id":"1294d31b-9e83-423e-a710-02de156a7b9c","block_type":"box","text":"license. The Index is calculated by or","page_number":44,"box":{"x":197,"y":820,"width":272,"height":11}},{"id":"0b882454-1fd9-4987-b4f7-1b968fcb667d","block_type":"box","text":"on behalf of FTSE International","page_number":44,"box":{"x":196,"y":833,"width":272,"height":9}},{"id":"5f8ea99a-3052-4ea9-9772-f28995c55405","block_type":"box","text":"Limited or its affiliate, agent or","page_number":44,"box":{"x":197,"y":847,"width":272,"height":11}},{"id":"b1a5eaa1-e43d-4962-8584-8b3b1b1efe17","block_type":"box","text":"partner. The LSE Group does not","page_number":44,"box":{"x":196,"y":861,"width":273,"height":11}},{"id":"2c896611-0b77-4fdd-98ab-f2a2e2e48618","block_type":"box","text":"accept any liability whatsoever to any","page_number":44,"box":{"x":196,"y":875,"width":273,"height":11}},{"id":"7fba2fa6-79c6-4cef-b184-69df0cae06bd","block_type":"box","text":"person arising out of (a) the use of,","page_number":44,"box":{"x":196,"y":888,"width":271,"height":12}},{"id":"0d296c75-eaba-4378-b4ff-b393240c1262","block_type":"box","text":"reliance on or any error in the Index","page_number":44,"box":{"x":197,"y":902,"width":272,"height":11}},{"id":"fe9b463a-ec1a-48d5-b3b3-4eb3072e7769","block_type":"box","text":"or (b) investment in or operation of","page_number":44,"box":{"x":196,"y":915,"width":273,"height":12}},{"id":"8fa777f6-2e39-4b6f-8c8d-8dc2539098a9","block_type":"box","text":"Index","page_number":44,"box":{"x":533,"y":46,"width":43,"height":9}},{"id":"c7166d5a-b715-4583-ae2c-767c64b95de9","block_type":"box","text":"provider","page_number":44,"box":{"x":533,"y":62,"width":66,"height":11}},{"id":"7c8149d7-5f33-4e28-a114-a5252be34d18","block_type":"box","text":"Disclaimer","page_number":44,"box":{"x":658,"y":46,"width":83,"height":9}},{"id":"d2d4a1e4-c8a2-41d9-9145-4bdf6358876d","block_type":"box","text":"the Sub-Funds. The LSE Group","page_number":44,"box":{"x":657,"y":78,"width":273,"height":11}},{"id":"0ddcaa1d-0026-415e-ae98-1ce6adc30f5b","block_type":"box","text":"makes no claim, prediction, warranty","page_number":44,"box":{"x":658,"y":92,"width":272,"height":11}},{"id":"9137fb41-127b-4dfc-a9f6-8f5f0180b2c9","block_type":"box","text":"or representation either as to the","page_number":44,"box":{"x":657,"y":106,"width":273,"height":11}},{"id":"007947b5-873c-480a-907a-4d7ac049be2b","block_type":"box","text":"results to be obtained from the Sub","page_number":44,"box":{"x":658,"y":119,"width":271,"height":9}},{"id":"4cd7593d-77c6-4c97-8daf-3f9d2a3e0a45","block_type":"box","text":"Funds or the suitability of the Index","page_number":44,"box":{"x":658,"y":133,"width":272,"height":11}},{"id":"7aeee107-a830-4416-ae09-3f90add320f6","block_type":"box","text":"for the purpose to which it is being","page_number":44,"box":{"x":657,"y":147,"width":272,"height":11}},{"id":"57d80b66-4b1b-4ddc-898b-219e6b175b12","block_type":"box","text":"put by Aviva Investors UK Fund","page_number":44,"box":{"x":658,"y":160,"width":271,"height":11}},{"id":"3d8d27d8-00ae-400c-8eec-bf59fb34259b","block_type":"box","text":"Services Limited.","page_number":44,"box":{"x":658,"y":174,"width":125,"height":9}},{"id":"109ba17e-dcc4-41f6-9bd8-820b763458b1","block_type":"box","text":"MSCI Limited Certain information contained herein","page_number":44,"box":{"x":533,"y":188,"width":396,"height":9}},{"id":"a3e83236-b75d-4d6c-8860-c1042b11ced1","block_type":"box","text":"(the “Information”) is sourced","page_number":44,"box":{"x":658,"y":202,"width":271,"height":11}},{"id":"236a4924-fff8-452e-b277-3db8db67979f","block_type":"box","text":"from/copyright of MSCI Inc., MSCI","page_number":44,"box":{"x":657,"y":215,"width":272,"height":12}},{"id":"0fc021f1-c9ea-4fe3-a315-e99e361e5513","block_type":"box","text":"ESG Research LLC, or their affiliates","page_number":44,"box":{"x":658,"y":229,"width":271,"height":11}},{"id":"aaafaf42-bbad-4331-bbfb-0f8b0d989e71","block_type":"box","text":"(“MSCI”), or information providers","page_number":44,"box":{"x":658,"y":243,"width":271,"height":11}},{"id":"14884c73-b9ee-481e-85ea-7334f11f76e2","block_type":"box","text":"(together the “MSCI Parties”) and","page_number":44,"box":{"x":658,"y":256,"width":271,"height":12}},{"id":"4e956900-94ac-41a3-b9e3-992eca748c24","block_type":"box","text":"may have been used to calculate","page_number":44,"box":{"x":658,"y":270,"width":271,"height":11}},{"id":"ea8dd104-8378-474a-8c8b-4e8edb8a7369","block_type":"box","text":"scores, signals, or other indicators.","page_number":44,"box":{"x":657,"y":284,"width":272,"height":11}},{"id":"9d06b2e0-766f-4746-82be-82ac9073169f","block_type":"box","text":"The Information is for internal use","page_number":44,"box":{"x":657,"y":297,"width":272,"height":9}},{"id":"358559f7-1219-4191-9ae6-d0dc71e324d3","block_type":"box","text":"only and may not be reproduced or","page_number":44,"box":{"x":657,"y":311,"width":273,"height":11}},{"id":"a01b05b8-3076-4514-b3cb-c6d5d9381c04","block_type":"box","text":"disseminated in whole or part without","page_number":44,"box":{"x":657,"y":325,"width":273,"height":11}},{"id":"e8ee7f19-823d-4a24-af50-a9d0d753b2df","block_type":"box","text":"prior written permission. The","page_number":44,"box":{"x":658,"y":338,"width":271,"height":11}},{"id":"eaca3f22-a1fc-4c6e-96f5-e74c9c68ab0e","block_type":"box","text":"Information may not be used for, nor","page_number":44,"box":{"x":658,"y":352,"width":272,"height":11}},{"id":"ec9974f5-20d5-4848-98d3-5559edad1383","block_type":"box","text":"does it constitute, an offer to buy or","page_number":44,"box":{"x":657,"y":366,"width":273,"height":11}},{"id":"0df27691-96b8-4fd5-b503-78e20862a471","block_type":"box","text":"sell, or a promotion or","page_number":44,"box":{"x":657,"y":380,"width":273,"height":10}},{"id":"27405e7c-966c-4adb-8439-f8734501a3c6","block_type":"box","text":"recommendation of, any security,","page_number":44,"box":{"x":658,"y":393,"width":271,"height":11}},{"id":"9166b7f9-ec3d-499e-b36d-48c2c93af169","block_type":"box","text":"financial instrument or product,","page_number":44,"box":{"x":657,"y":407,"width":272,"height":11}},{"id":"df3322a5-ec3f-40ad-baff-4c5b0a7d0a78","block_type":"box","text":"trading strategy, or index, nor should","page_number":44,"box":{"x":657,"y":420,"width":272,"height":11}},{"id":"79b70a19-cea9-413b-83ee-13ca7d96db56","block_type":"box","text":"it be taken as an indication or","page_number":44,"box":{"x":658,"y":434,"width":272,"height":9}},{"id":"67ef224b-6963-46fb-b72b-1abe47b9f133","block_type":"box","text":"guarantee of any future performance.","page_number":44,"box":{"x":657,"y":448,"width":272,"height":11}},{"id":"400620dc-4793-4309-8991-0f2dc4323c72","block_type":"box","text":"Some funds may be based on or","page_number":44,"box":{"x":658,"y":461,"width":272,"height":11}},{"id":"8aa6d7cf-f083-4b74-8c33-9468b82cb886","block_type":"box","text":"linked to MSCI indexes, and MSCI","page_number":44,"box":{"x":658,"y":475,"width":271,"height":10}},{"id":"cdd7a6f9-b890-4790-88d3-282a62af7927","block_type":"box","text":"may be compensated based on the","page_number":44,"box":{"x":658,"y":489,"width":272,"height":11}},{"id":"3d98c1ff-a838-4612-a7a4-d71c2be2ad48","block_type":"box","text":"fund’s assets under management or","page_number":44,"box":{"x":657,"y":502,"width":273,"height":11}},{"id":"124b022f-713a-4bd9-a3fa-88262beede7d","block_type":"box","text":"other measures. MSCI has","page_number":44,"box":{"x":657,"y":516,"width":272,"height":9}},{"id":"aec4c8aa-9ffa-4301-819f-782774fa1bcc","block_type":"box","text":"established an information barrier","page_number":44,"box":{"x":657,"y":530,"width":273,"height":8}},{"id":"9530b185-3ad8-4d59-bcb1-926a7806e14a","block_type":"box","text":"between index research and certain","page_number":44,"box":{"x":658,"y":543,"width":271,"height":9}},{"id":"68c45f58-ac0d-4702-98fb-07a6c51ecbc5","block_type":"box","text":"Information. None of the Information","page_number":44,"box":{"x":658,"y":557,"width":271,"height":9}},{"id":"3eb30d84-94c2-4406-a233-d6bcd8ddd30c","block_type":"box","text":"in and of itself can be used to","page_number":44,"box":{"x":658,"y":571,"width":272,"height":8}},{"id":"7c9ed54b-08a8-4964-a37a-db99cf8e5e23","block_type":"box","text":"determine which securities to buy or","page_number":44,"box":{"x":657,"y":584,"width":273,"height":11}},{"id":"ffc4ce95-81d8-416e-a82e-966eab40327d","block_type":"box","text":"sell or when to buy or sell them. The","page_number":44,"box":{"x":657,"y":598,"width":272,"height":11}},{"id":"c8fb0d4d-7f14-491e-b3f9-8376a191365f","block_type":"box","text":"Information is provided “as is” and","page_number":44,"box":{"x":658,"y":612,"width":271,"height":11}},{"id":"b6e68aba-f047-4097-8a08-0fde1f6f6f24","block_type":"box","text":"the user assumes the entire risk of","page_number":44,"box":{"x":657,"y":625,"width":273,"height":9}},{"id":"c17bb8b0-91c0-4f86-b7a3-d270185005f1","block_type":"box","text":"any use it may make or permit to be","page_number":44,"box":{"x":657,"y":639,"width":272,"height":11}},{"id":"b4d4af37-c0ce-4513-a934-176117bdb236","block_type":"box","text":"made of the Information. No MSCI","page_number":44,"box":{"x":658,"y":652,"width":271,"height":9}},{"id":"c7ff165e-7535-4ce6-abc5-ec214667d90a","block_type":"box","text":"Party warrants or guarantees the","page_number":44,"box":{"x":658,"y":666,"width":271,"height":11}},{"id":"e6831aee-8b9c-41de-86dd-ff52c94add90","block_type":"box","text":"originality, accuracy and/or","page_number":44,"box":{"x":657,"y":680,"width":273,"height":11}},{"id":"2826f765-70b5-4c4e-afc3-b23159486d1e","block_type":"box","text":"completeness of the Information and","page_number":44,"box":{"x":657,"y":694,"width":272,"height":11}},{"id":"274ae77e-e328-437f-a34e-fef97ca35f36","block_type":"box","text":"each expressly disclaims all express","page_number":44,"box":{"x":657,"y":707,"width":273,"height":11}},{"id":"1fb13e4a-41e3-4eac-b0bb-69ddfbb50930","block_type":"box","text":"or implied warranties. No MSCI Party","page_number":44,"box":{"x":657,"y":721,"width":273,"height":11}},{"id":"9a37483c-f4cc-4d26-810f-a86b5ffcf12a","block_type":"box","text":"shall have any liability for any errors","page_number":44,"box":{"x":657,"y":734,"width":273,"height":12}},{"id":"9fcae421-94de-41f1-8c89-c6cf99c78fe5","block_type":"box","text":"or omissions in connection with any","page_number":44,"box":{"x":657,"y":748,"width":273,"height":11}},{"id":"e6aa9d05-2ab1-4648-b3e0-1f03a25cf5f1","block_type":"box","text":"Information herein, or any liability for","page_number":44,"box":{"x":658,"y":762,"width":272,"height":11}},{"id":"5b02b09f-26c0-47ac-bc87-abbbf6dde100","block_type":"box","text":"any direct, indirect, special, punitive,","page_number":44,"box":{"x":657,"y":776,"width":272,"height":11}},{"id":"d97435e3-1e9e-4574-8cdd-07ee46a72f2a","block_type":"box","text":"consequential or any other damages","page_number":44,"box":{"x":657,"y":789,"width":272,"height":11}},{"id":"78cd0e48-dbb6-4010-b491-21d81a6f14ab","block_type":"box","text":"(including lost profits) even if notified","page_number":44,"box":{"x":658,"y":803,"width":271,"height":11}},{"id":"a2ec017e-953c-4b91-b201-26638d85c6ca","block_type":"box","text":"of the possibility of such damages.","page_number":44,"box":{"x":657,"y":816,"width":255,"height":12}},{"id":"877e7f38-071c-4090-8e68-28cdd257f1d8","block_type":"box","text":"S&P Dow","page_number":44,"box":{"x":533,"y":830,"width":105,"height":9}},{"id":"934e1d7b-a9e4-493d-b6ea-5085509720c7","block_type":"box","text":"Jones Indices","page_number":44,"box":{"x":532,"y":844,"width":106,"height":9}},{"id":"5290c385-19a9-4548-9851-b3229349f132","block_type":"box","text":"Limited","page_number":44,"box":{"x":533,"y":858,"width":52,"height":9}},{"id":"334e656e-e61e-4d9f-9bd8-715844853521","block_type":"box","text":"An index referenced as “Markit” and","page_number":44,"box":{"x":657,"y":831,"width":272,"height":8}},{"id":"e12a4d58-44e0-4d8f-a639-4ed784246017","block_type":"box","text":"the S&P® 500 Total Return GBP","page_number":44,"box":{"x":657,"y":844,"width":272,"height":9}},{"id":"08b52ec3-e684-4948-a384-8ae50084ef59","block_type":"box","text":"Index (“Index(es)”) are products of","page_number":44,"box":{"x":658,"y":858,"width":272,"height":11}},{"id":"d300e666-b53e-405f-bb3d-cb74ca260e2c","block_type":"box","text":"S&P Dow Jones Indices LLC or its","page_number":44,"box":{"x":658,"y":872,"width":272,"height":8}},{"id":"39bbfe08-5cff-4e12-b8f5-19d8e1898d88","block_type":"box","text":"affiliates (“SPDJI”), and have been","page_number":44,"box":{"x":657,"y":885,"width":272,"height":11}},{"id":"b0dd091b-f50c-4d25-91bc-19694347a78d","block_type":"box","text":"licensed for use by Aviva Investors","page_number":44,"box":{"x":658,"y":899,"width":272,"height":11}},{"id":"17af1b3f-bae3-42b1-99f9-28097b8cd955","block_type":"box","text":"Global Services Limited. S&P®,","page_number":44,"box":{"x":658,"y":912,"width":271,"height":11}},{"id":"0ca4e65f-f28a-49da-9816-6f24b975c54f","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 45","page_number":45,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"c0712676-92c2-482f-81ea-00fa53c488f7","block_type":"box","text":"Index","page_number":45,"box":{"x":72,"y":46,"width":42,"height":9}},{"id":"ce041254-47c9-405f-bcfd-837dcded089b","block_type":"box","text":"provider","page_number":45,"box":{"x":72,"y":62,"width":66,"height":11}},{"id":"50f3c86c-4676-4409-8e7e-a249598c9954","block_type":"box","text":"Disclaimer","page_number":45,"box":{"x":197,"y":46,"width":83,"height":9}},{"id":"911b4acf-93e8-4b25-854c-13b70d64668b","block_type":"box","text":"S&P 500®, SPX®, SPY®, US 500","page_number":45,"box":{"x":196,"y":78,"width":251,"height":11}},{"id":"224ace61-74da-4ff1-bf0a-87691c3d3080","block_type":"box","text":"™","page_number":45,"box":{"x":449,"y":78,"width":13,"height":5}},{"id":"ec6c83cb-03fd-4481-8673-a47af8f60238","block_type":"box","text":",","page_number":45,"box":{"x":466,"y":86,"width":1,"height":3}},{"id":"cdb35d99-2295-4e2f-b90f-8d573d152c83","block_type":"box","text":"The 500","page_number":45,"box":{"x":196,"y":92,"width":68,"height":9}},{"id":"1dab760a-9176-40ed-9d7a-b43c8be87e42","block_type":"box","text":"™","page_number":45,"box":{"x":267,"y":92,"width":13,"height":5}},{"id":"569a0569-31d0-4a05-810b-0734de5c1357","block_type":"box","text":", iBoxx®, iTraxx® and","page_number":45,"box":{"x":283,"y":92,"width":185,"height":10}},{"id":"1f0ad811-2c59-4b66-bec5-fe2cb5791def","block_type":"box","text":"CDX® are trademarks of S&P","page_number":45,"box":{"x":196,"y":106,"width":272,"height":8}},{"id":"5b9c8c7d-a9ae-4bc4-babd-02130afdc775","block_type":"box","text":"Global, Inc. or its affiliates (“S&P”);","page_number":45,"box":{"x":196,"y":119,"width":271,"height":11}},{"id":"fd3aa640-1605-4491-bfff-b080bd4e67db","block_type":"box","text":"Dow Jones® is a registered","page_number":45,"box":{"x":197,"y":133,"width":271,"height":11}},{"id":"7cf43255-b37e-4802-b8bd-f898d9478d67","block_type":"box","text":"trademark of Dow Jones Trademark","page_number":45,"box":{"x":196,"y":147,"width":273,"height":8}},{"id":"13a74397-1e81-412b-9941-1bc44238a2a8","block_type":"box","text":"Holdings LLC (“Dow Jones”); and","page_number":45,"box":{"x":197,"y":160,"width":271,"height":12}},{"id":"e1b655b0-d585-4753-873e-6cb8bfdd3ff1","block_type":"box","text":"none of such parties","page_number":45,"box":{"x":197,"y":174,"width":176,"height":11}},{"id":"a1a51334-18e4-4430-a9b1-31d674eedbd9","block_type":"box","text":"make any","page_number":45,"box":{"x":388,"y":174,"width":81,"height":11}},{"id":"380c0341-33bd-4c68-b011-4137261e4a27","block_type":"box","text":"representation regarding the","page_number":45,"box":{"x":197,"y":188,"width":271,"height":11}},{"id":"7b89e86d-6a99-490e-92b6-8057cfc5bead","block_type":"box","text":"advisability of investing in such","page_number":45,"box":{"x":196,"y":201,"width":272,"height":11}},{"id":"acf08fd2-22e5-476f-9eae-96361342ee27","block_type":"box","text":"product(s) nor do they have any","page_number":45,"box":{"x":196,"y":215,"width":273,"height":11}},{"id":"c605e3f9-1b5a-490d-a0fc-7ae028dc867b","block_type":"box","text":"liability for any errors, omissions, or","page_number":45,"box":{"x":197,"y":229,"width":272,"height":11}},{"id":"0aba4b3c-28a7-45f9-bdbe-f5a342b80655","block_type":"box","text":"interruptions of the relevant Index.","page_number":45,"box":{"x":197,"y":242,"width":251,"height":11}},{"id":"ea8a4b78-58c1-4414-be96-a3a26942509d","block_type":"box","text":"JPX Market","page_number":45,"box":{"x":71,"y":284,"width":106,"height":9}},{"id":"5e9b5967-2119-4e71-a30d-87d189c0874d","block_type":"box","text":"Innovation &","page_number":45,"box":{"x":72,"y":298,"width":105,"height":8}},{"id":"f574166e-3375-42ff-ae70-aa86e1389949","block_type":"box","text":"Research, Inc","page_number":45,"box":{"x":72,"y":311,"width":102,"height":10}},{"id":"f55e8b52-55b6-47b9-9199-39b37715713c","block_type":"box","text":"The Total Return TOPIX ® Index and","page_number":45,"box":{"x":196,"y":284,"width":272,"height":9}},{"id":"0aa13726-3e1a-4fc1-9cfe-7616c0e47fb8","block_type":"box","text":"the Total Return TOPIX ® Index","page_number":45,"box":{"x":196,"y":297,"width":273,"height":9}},{"id":"f1bfe7e3-46a2-4dfa-be69-14ade1f2fb5e","block_type":"box","text":"Marks are subject to the proprietary","page_number":45,"box":{"x":197,"y":311,"width":272,"height":11}},{"id":"a8d92b58-cf00-4da2-a515-cf27f4c5341c","block_type":"box","text":"rights owned by JPX Market","page_number":45,"box":{"x":197,"y":325,"width":271,"height":11}},{"id":"f5312fc5-ef1e-43af-bf15-11e993685b39","block_type":"box","text":"Innovation & Research, Inc. or","page_number":45,"box":{"x":197,"y":338,"width":272,"height":11}},{"id":"dc1d074b-fb5d-4b19-a62a-74cb5e2eb779","block_type":"box","text":"affiliates of JPX Market Innovation &","page_number":45,"box":{"x":196,"y":352,"width":273,"height":9}},{"id":"4b19e7f8-8d5b-4b89-8538-b7588c06aca8","block_type":"box","text":"Research, Inc. (hereinafter","page_number":45,"box":{"x":197,"y":366,"width":272,"height":11}},{"id":"18b673e0-335a-408c-a1be-dd4dfba07524","block_type":"box","text":"collectively referred to as \"JPX\") and","page_number":45,"box":{"x":196,"y":379,"width":272,"height":12}},{"id":"affc008e-bd86-406f-b14b-5ea846dcd18d","block_type":"box","text":"JPX owns all rights and know-how","page_number":45,"box":{"x":196,"y":393,"width":273,"height":11}},{"id":"d63e8514-d8ea-45ee-b59c-cbb8dbf8902d","block_type":"box","text":"relating to Total Return TOPIX ®","page_number":45,"box":{"x":197,"y":407,"width":272,"height":11}},{"id":"fcce1fb3-5566-4248-82f8-4bde1fabaa73","block_type":"box","text":"Index such as calculation, publication","page_number":45,"box":{"x":197,"y":420,"width":271,"height":11}},{"id":"e3ba815f-7e2e-4619-9160-941d573d3cfa","block_type":"box","text":"and use of the Total Return TOPIX ®","page_number":45,"box":{"x":196,"y":434,"width":273,"height":9}},{"id":"2497f3a3-d093-4420-8287-186f07172933","block_type":"box","text":"Index and relating to the Total Return","page_number":45,"box":{"x":197,"y":448,"width":271,"height":11}},{"id":"323aa428-bb8b-422a-865c-8b8968a5e0d2","block_type":"box","text":"TOPIX ® Index Marks. JPX shall not","page_number":45,"box":{"x":196,"y":461,"width":273,"height":9}},{"id":"72cd8ae1-1e42-4a7d-9b65-5006d5dfd651","block_type":"box","text":"be liable for the miscalculation,","page_number":45,"box":{"x":196,"y":475,"width":271,"height":10}},{"id":"4ecd37b3-8224-4465-a513-dec9be7e51ab","block_type":"box","text":"incorrect publication, delayed or","page_number":45,"box":{"x":197,"y":489,"width":272,"height":11}},{"id":"e359d628-ef3a-40cd-a088-57f55f626ede","block_type":"box","text":"interrupted publication of the Total","page_number":45,"box":{"x":197,"y":502,"width":271,"height":11}},{"id":"f4315b3c-4746-495f-a0f1-e95f98bc3792","block_type":"box","text":"Return TOPIX ® Index.","page_number":45,"box":{"x":197,"y":516,"width":170,"height":9}},{"id":"a42e88af-73c7-4b63-8b4a-e8545c8d01e1","block_type":"box","text":"ICE Data","page_number":45,"box":{"x":72,"y":530,"width":105,"height":9}},{"id":"e43e1a3a-6725-41f5-b8aa-cd853519e854","block_type":"box","text":"Indices, LLC","page_number":45,"box":{"x":72,"y":544,"width":91,"height":10}},{"id":"5fb8efe0-3794-4dd0-bd8e-e7ea4a891346","block_type":"box","text":"Source ICE Data Indices, LLC (“ICE","page_number":45,"box":{"x":196,"y":530,"width":271,"height":11}},{"id":"2a356ba5-5dc8-43f5-8d01-30bc48e3bb5c","block_type":"box","text":"Data”), is used with permission. ICE®","page_number":45,"box":{"x":197,"y":544,"width":272,"height":11}},{"id":"52dd865d-157b-4146-9043-4616e360881f","block_type":"box","text":"is a registered trademark of ICE Data","page_number":45,"box":{"x":197,"y":557,"width":271,"height":12}},{"id":"aff5b901-5085-4079-97e2-058edc7f2148","block_type":"box","text":"or its affiliates and BOFA® is a","page_number":45,"box":{"x":196,"y":571,"width":273,"height":9}},{"id":"487422cd-87e0-430e-9dab-57724778f94d","block_type":"box","text":"registered trademark of Bank Of","page_number":45,"box":{"x":197,"y":585,"width":272,"height":11}},{"id":"1cc393af-eadc-40e0-a646-90e6ca8ddccd","block_type":"box","text":"America Corporation licensed by","page_number":45,"box":{"x":196,"y":598,"width":273,"height":12}},{"id":"2f58ebdd-c5a6-45d2-93ae-8a512fdd0cd1","block_type":"box","text":"Bank Of America Corporation and its","page_number":45,"box":{"x":197,"y":612,"width":271,"height":11}},{"id":"3d6254f0-1792-4c5d-9996-47e2cf3cda92","block_type":"box","text":"affiliates (\"BOFA\") and may not be","page_number":45,"box":{"x":196,"y":626,"width":272,"height":11}},{"id":"effd2f7e-e912-4a25-90d6-fe07958ef213","block_type":"box","text":"used without BOFA'S prior written","page_number":45,"box":{"x":197,"y":639,"width":271,"height":12}},{"id":"e1c58113-a651-4b14-8c14-dc9380d7ea69","block_type":"box","text":"approval. ICE Data, its affiliates and","page_number":45,"box":{"x":196,"y":653,"width":272,"height":11}},{"id":"acf818b7-d69d-46b4-89f0-036929671e27","block_type":"box","text":"their respective third party suppliers","page_number":45,"box":{"x":196,"y":667,"width":272,"height":11}},{"id":"568d1b07-33b3-4693-867e-2671a560ab27","block_type":"box","text":"disclaim any and all warranties and","page_number":45,"box":{"x":196,"y":681,"width":272,"height":11}},{"id":"48eb873d-f380-41de-b1e9-6b6ecb4763b4","block_type":"box","text":"representations, express and/or","page_number":45,"box":{"x":197,"y":694,"width":272,"height":11}},{"id":"0efc6fcf-d24e-4d97-915f-4467488b4ab5","block_type":"box","text":"implied, including any warranties of","page_number":45,"box":{"x":197,"y":708,"width":272,"height":11}},{"id":"f32257f0-d077-4d86-a6d0-e5fbd405820e","block_type":"box","text":"merchantability or fitness for a","page_number":45,"box":{"x":197,"y":721,"width":271,"height":12}},{"id":"bcfbb1a5-a52c-4c72-8066-9ca10d0a4d6a","block_type":"box","text":"particular purpose or use, including","page_number":45,"box":{"x":196,"y":735,"width":272,"height":11}},{"id":"f5018663-c234-4150-9e92-d5164e537471","block_type":"box","text":"the indices, index data and any data","page_number":45,"box":{"x":196,"y":749,"width":272,"height":11}},{"id":"b1468e79-3af3-4af4-b9ea-331dd11b00fa","block_type":"box","text":"included in, related to, or derived","page_number":45,"box":{"x":197,"y":762,"width":271,"height":11}},{"id":"a3b0b43c-6b55-4e33-9f39-b780e179a575","block_type":"box","text":"therefrom. Neither ICE Data, its","page_number":45,"box":{"x":196,"y":776,"width":272,"height":10}},{"id":"dada8860-02b4-43cb-9f49-0bc5e8f8381a","block_type":"box","text":"affiliates nor their respective third","page_number":45,"box":{"x":196,"y":790,"width":272,"height":11}},{"id":"8d53f117-8ec3-4e21-af29-bda2e78a7aed","block_type":"box","text":"party suppliers shall be subject to any","page_number":45,"box":{"x":196,"y":804,"width":273,"height":11}},{"id":"e5341886-ea06-4435-ac2d-3837c11696ac","block_type":"box","text":"damages or liability with respect to","page_number":45,"box":{"x":196,"y":817,"width":272,"height":11}},{"id":"0d63d6bc-4427-4379-80a1-6a1d298d4afe","block_type":"box","text":"the adequacy, accuracy, timeliness","page_number":45,"box":{"x":196,"y":831,"width":272,"height":11}},{"id":"17e11edf-39cc-4c1f-a966-85babdab72ec","block_type":"box","text":"or completeness of the indices or the","page_number":45,"box":{"x":196,"y":844,"width":272,"height":11}},{"id":"e1d9cbde-5e2f-4c35-914f-6f39ed81da32","block_type":"box","text":"index data or any component thereof,","page_number":45,"box":{"x":197,"y":858,"width":271,"height":11}},{"id":"2f99d796-0307-4b2a-bb51-582619d21a20","block_type":"box","text":"and the indices and index data and","page_number":45,"box":{"x":196,"y":872,"width":272,"height":8}},{"id":"42cfe6e2-7f13-4c55-a0be-cbb1e7267684","block_type":"box","text":"all components thereof are provided","page_number":45,"box":{"x":196,"y":885,"width":272,"height":11}},{"id":"f7b67732-3a77-454b-9f54-33b9c9955b42","block_type":"box","text":"on an “as is” basis and your use is at","page_number":45,"box":{"x":196,"y":899,"width":273,"height":11}},{"id":"01e91d8b-0372-468c-906f-11b1ef0c301f","block_type":"box","text":"your own risk. ICE Data, its affiliates","page_number":45,"box":{"x":196,"y":912,"width":272,"height":12}},{"id":"f03875aa-8785-414e-ad94-8acd98ab18fa","block_type":"box","text":"Index","page_number":45,"box":{"x":533,"y":46,"width":43,"height":9}},{"id":"bbb1d8b7-dd77-46b6-8977-937f5006400a","block_type":"box","text":"provider","page_number":45,"box":{"x":533,"y":62,"width":66,"height":11}},{"id":"8e5aac3f-ca27-4d53-8370-0d3cb550b689","block_type":"box","text":"Disclaimer","page_number":45,"box":{"x":658,"y":46,"width":83,"height":9}},{"id":"0d1314ab-68ae-4175-a20c-4ffc6d9f6cc6","block_type":"box","text":"and their respective third party","page_number":45,"box":{"x":657,"y":79,"width":273,"height":11}},{"id":"5ef0d8cc-c6b3-4a3f-9ebf-1165a6b55f35","block_type":"box","text":"suppliers do not sponsor, endorse, or","page_number":45,"box":{"x":657,"y":92,"width":273,"height":11}},{"id":"61839a57-720c-410e-966d-d69f0cf7ee8c","block_type":"box","text":"recommend Aviva Investors Global","page_number":45,"box":{"x":658,"y":106,"width":271,"height":8}},{"id":"0365947b-ebbc-4f9e-a8e0-6126bfc66a77","block_type":"box","text":"Services Limited, or any of its","page_number":45,"box":{"x":658,"y":119,"width":272,"height":11}},{"id":"46496887-b64b-4c79-9b94-1b8e0412bcf0","block_type":"box","text":"products or services.","page_number":45,"box":{"x":658,"y":133,"width":152,"height":11}},{"id":"75ee8c1f-7d35-4deb-865c-1ef838de117b","block_type":"box","text":"J.P. Morgan","page_number":45,"box":{"x":532,"y":147,"width":105,"height":11}},{"id":"c398b274-558d-4eb4-ac1e-c6ad98d5a3d4","block_type":"box","text":"Securities","page_number":45,"box":{"x":533,"y":161,"width":72,"height":9}},{"id":"58938135-2d63-469d-8ff2-8573c3ff162f","block_type":"box","text":"LLC","page_number":45,"box":{"x":533,"y":174,"width":29,"height":9}},{"id":"6db27830-fa27-4b7e-8210-5f9f06ea2e5b","block_type":"box","text":"Information has been obtained from","page_number":45,"box":{"x":658,"y":147,"width":271,"height":9}},{"id":"dee06274-6e39-4c0d-a1f0-3315ce3564b8","block_type":"box","text":"sources believed to be reliable but","page_number":45,"box":{"x":657,"y":161,"width":273,"height":9}},{"id":"707d6986-b341-49b0-a76f-671f7ef83400","block_type":"box","text":"J.P. Morgan does not warrant its","page_number":45,"box":{"x":657,"y":175,"width":272,"height":11}},{"id":"a5c21514-14d7-44a5-a863-9ea886dc06b8","block_type":"box","text":"completeness or accuracy. The","page_number":45,"box":{"x":657,"y":188,"width":273,"height":11}},{"id":"8692c299-c2dc-4c5c-a953-1f3acc348d48","block_type":"box","text":"Index is used with permission. The","page_number":45,"box":{"x":658,"y":202,"width":272,"height":11}},{"id":"393ad617-3f5f-4454-b99e-a73701217463","block_type":"box","text":"Index may not be copied, used, or","page_number":45,"box":{"x":658,"y":216,"width":272,"height":11}},{"id":"ce55dca0-b69c-4ea7-ab6d-9846b1ce5b59","block_type":"box","text":"distributed without J.P. Morgan's","page_number":45,"box":{"x":657,"y":229,"width":273,"height":11}},{"id":"bdfbc371-94eb-4100-a72f-318d16c7366d","block_type":"box","text":"prior written approval. Copyright","page_number":45,"box":{"x":658,"y":243,"width":272,"height":11}},{"id":"bba90d14-2c2b-4cc0-ae96-66af0853ea17","block_type":"box","text":"2025, J.P. Morgan Chase & Co. All","page_number":45,"box":{"x":657,"y":256,"width":272,"height":12}},{"id":"7459508d-16c1-493a-a533-a7231feaa469","block_type":"box","text":"rights reserved.","page_number":45,"box":{"x":658,"y":270,"width":113,"height":11}},{"id":"c39ec7bb-438e-4ab0-bd27-2ca1c665efad","block_type":"box","text":"Bloomberg","page_number":45,"box":{"x":533,"y":284,"width":79,"height":12}},{"id":"0c94bc90-57e5-4fc5-95cb-eccfcab7ee34","block_type":"box","text":"Index","page_number":45,"box":{"x":534,"y":298,"width":39,"height":9}},{"id":"c36cae4b-1925-47a1-8c58-1070487ee835","block_type":"box","text":"Services","page_number":45,"box":{"x":533,"y":312,"width":63,"height":9}},{"id":"3d819ef7-8f00-4291-a4db-5275de04ba31","block_type":"box","text":"Limited","page_number":45,"box":{"x":533,"y":326,"width":52,"height":8}},{"id":"1c151b08-f154-48de-90e3-36c682929ffe","block_type":"box","text":"“Bloomberg®” and the Bloomberg","page_number":45,"box":{"x":657,"y":284,"width":272,"height":12}},{"id":"1075204d-6666-4f1e-8eb8-841380beca19","block_type":"box","text":"indices listed herein (the “Indices”)","page_number":45,"box":{"x":658,"y":298,"width":271,"height":11}},{"id":"c10ebaf6-25a6-4a70-a7c7-2fb6281be24b","block_type":"box","text":"are service marks of Bloomberg","page_number":45,"box":{"x":657,"y":312,"width":272,"height":11}},{"id":"c2fdb9ee-d231-4fe7-9fae-a0cf1e94f48c","block_type":"box","text":"Finance L.P. and its affiliates,","page_number":45,"box":{"x":658,"y":325,"width":271,"height":11}},{"id":"56cf0bae-5d2c-4438-98a3-0db2b5829f16","block_type":"box","text":"including Bloomberg Index Services","page_number":45,"box":{"x":658,"y":339,"width":272,"height":11}},{"id":"a1061026-c2f8-4076-ba59-d7d9b1fb7cad","block_type":"box","text":"Limited (“BISL”), the administrator of","page_number":45,"box":{"x":658,"y":352,"width":272,"height":12}},{"id":"4cd6781e-a4ee-4822-ba0b-299af3eff523","block_type":"box","text":"the index (collectively, “Bloomberg”),","page_number":45,"box":{"x":657,"y":366,"width":272,"height":11}},{"id":"c934efea-2133-4279-8890-8bc5dc0e97f1","block_type":"box","text":"and have been licensed for use for","page_number":45,"box":{"x":657,"y":380,"width":273,"height":9}},{"id":"c251cc26-978d-4b2a-b20c-71a1961ee4e4","block_type":"box","text":"certain purposes by Aviva Investors","page_number":45,"box":{"x":657,"y":394,"width":273,"height":11}},{"id":"a45cf7ab-879d-4441-b61d-c654c2a77659","block_type":"box","text":"Global Services Limited.","page_number":45,"box":{"x":658,"y":407,"width":178,"height":9}},{"id":"fe5355c1-c35e-4206-8073-1eecba70bb1a","block_type":"box","text":"The Sub-Funds are not sponsored,","page_number":45,"box":{"x":657,"y":434,"width":272,"height":12}},{"id":"a77bab52-63d7-4fe0-878d-cf388a5f9fa6","block_type":"box","text":"endorsed, sold or promoted by","page_number":45,"box":{"x":657,"y":448,"width":273,"height":11}},{"id":"379140e0-f882-4cf0-b1e7-1a9eeb11d62a","block_type":"box","text":"Bloomberg. Bloomberg does not","page_number":45,"box":{"x":658,"y":462,"width":272,"height":11}},{"id":"c9e582d3-4ef7-4784-a329-7a215b97d310","block_type":"box","text":"make any representation or","page_number":45,"box":{"x":658,"y":476,"width":272,"height":11}},{"id":"02cea14e-36df-453e-9f6f-867097a2d5d1","block_type":"box","text":"warranty, express or implied, to the","page_number":45,"box":{"x":657,"y":489,"width":273,"height":11}},{"id":"13db51a3-54d5-41ea-a92e-1616eb36ce0b","block_type":"box","text":"owners of or counterparties to the","page_number":45,"box":{"x":657,"y":503,"width":272,"height":11}},{"id":"cff59071-71ef-4421-bfcc-83d2fe981c92","block_type":"box","text":"Sub-Funds or any member of the","page_number":45,"box":{"x":658,"y":516,"width":271,"height":12}},{"id":"5f4e7bc0-cde2-4097-b83a-03d648d7aa96","block_type":"box","text":"public regarding the advisability of","page_number":45,"box":{"x":658,"y":530,"width":272,"height":11}},{"id":"e737b18e-effa-4760-b27e-5352696644c1","block_type":"box","text":"investing in securities or commodities","page_number":45,"box":{"x":658,"y":544,"width":271,"height":11}},{"id":"e10c70b4-c66c-465e-a1f1-e98a9b90ecf1","block_type":"box","text":"generally or in the Sub-Funds","page_number":45,"box":{"x":657,"y":557,"width":272,"height":12}},{"id":"3050774f-d6c7-439b-8625-28803a4db837","block_type":"box","text":"particularly. The only relationship of","page_number":45,"box":{"x":658,"y":571,"width":272,"height":11}},{"id":"c6f5cd14-3522-4727-98a0-39854761a127","block_type":"box","text":"Bloomberg to Aviva Investors Global","page_number":45,"box":{"x":658,"y":585,"width":271,"height":11}},{"id":"8020d517-4360-4c56-95ef-2fcdfd6f29f9","block_type":"box","text":"Services Limited is the licensing of","page_number":45,"box":{"x":658,"y":598,"width":272,"height":12}},{"id":"fbd54475-2d97-4346-a2f1-f3c1e0339dd1","block_type":"box","text":"certain trademarks, trade names and","page_number":45,"box":{"x":657,"y":612,"width":272,"height":10}},{"id":"a2bc0693-ad78-4cdc-938b-9a69dce2d314","block_type":"box","text":"service marks and of the Indices,","page_number":45,"box":{"x":657,"y":626,"width":272,"height":10}},{"id":"47e6e11f-b668-4644-8330-704ad30c1b0e","block_type":"box","text":"which are determined, composed","page_number":45,"box":{"x":657,"y":640,"width":272,"height":11}},{"id":"3f8afa1e-dde1-4fed-a0bb-b23ed9445745","block_type":"box","text":"and calculated by BISL without","page_number":45,"box":{"x":657,"y":653,"width":273,"height":11}},{"id":"99dcd28a-6477-46f7-a133-24bb50c0c758","block_type":"box","text":"regard to Aviva Investors Global","page_number":45,"box":{"x":658,"y":667,"width":271,"height":11}},{"id":"b741f286-b83e-4ff8-a817-69acbe695d6a","block_type":"box","text":"Services Limited or the Sub-Funds.","page_number":45,"box":{"x":658,"y":680,"width":271,"height":9}},{"id":"c4ae2764-06ca-4835-8bb7-4afb6b1a72a0","block_type":"box","text":"Bloomberg has no obligation to take","page_number":45,"box":{"x":658,"y":694,"width":271,"height":11}},{"id":"ac47d60a-3cdd-4261-817d-513914caaaa8","block_type":"box","text":"the needs of Aviva Investors Global","page_number":45,"box":{"x":657,"y":708,"width":272,"height":9}},{"id":"cc9fc162-3dcd-4d78-838e-8fa8bbbf7c7f","block_type":"box","text":"Services Limited or the Sub-Funds","page_number":45,"box":{"x":658,"y":721,"width":271,"height":9}},{"id":"91bee0bc-39ed-4e91-b5ad-7a6d473ef466","block_type":"box","text":"into consideration in determining,","page_number":45,"box":{"x":658,"y":735,"width":271,"height":11}},{"id":"d657b6e5-6e92-4e27-8af8-75d8b457f851","block_type":"box","text":"composing or calculating the Indices.","page_number":45,"box":{"x":657,"y":749,"width":272,"height":11}},{"id":"650e8300-a589-4631-a446-e512871c958f","block_type":"box","text":"Bloomberg is not responsible for and","page_number":45,"box":{"x":658,"y":762,"width":271,"height":12}},{"id":"bc90af49-51e8-4122-9b18-ee1e5e62f1f9","block_type":"box","text":"has not participated in the","page_number":45,"box":{"x":658,"y":776,"width":271,"height":11}},{"id":"38f62926-219e-4ac9-ad51-ec508fab9a16","block_type":"box","text":"determination of the timing, price, or","page_number":45,"box":{"x":657,"y":790,"width":273,"height":11}},{"id":"38e1df63-ee7f-4eb7-b390-696e4ec70361","block_type":"box","text":"quantities of the Sub-Funds to be","page_number":45,"box":{"x":657,"y":803,"width":272,"height":11}},{"id":"dbfc5c10-d2c9-470f-a066-07769307fb8d","block_type":"box","text":"issued. Bloomberg shall not have any","page_number":45,"box":{"x":658,"y":817,"width":272,"height":11}},{"id":"ca2c8fbd-6878-488c-9f43-eb45b4d1e1ab","block_type":"box","text":"obligation or liability, including,","page_number":45,"box":{"x":657,"y":831,"width":272,"height":11}},{"id":"b319ae9c-dedd-4095-9d44-e89efff899af","block_type":"box","text":"without limitation, to customers of the","page_number":45,"box":{"x":657,"y":844,"width":272,"height":11}},{"id":"24183b9f-1b82-4a57-b9de-905c747cf92f","block_type":"box","text":"Sub-Funds, in connection with the","page_number":45,"box":{"x":658,"y":858,"width":271,"height":10}},{"id":"c63c7cda-e334-4df9-9d11-fa02816200dc","block_type":"box","text":"administration, marketing or trading","page_number":45,"box":{"x":657,"y":872,"width":272,"height":11}},{"id":"ad66e470-6558-4f37-af81-d5b7cfdd6762","block_type":"box","text":"of the Sub-Funds.","page_number":45,"box":{"x":657,"y":885,"width":132,"height":9}},{"id":"08b37eda-7ed0-42cb-917b-5e5c127dae99","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 46","page_number":46,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"883eb5ae-4c53-409a-b0b0-95914c94168c","block_type":"box","text":"Index","page_number":46,"box":{"x":72,"y":46,"width":42,"height":9}},{"id":"0e6f4927-eb90-4141-8da5-7a31b23daa59","block_type":"box","text":"provider","page_number":46,"box":{"x":72,"y":62,"width":66,"height":11}},{"id":"72406735-a107-49ff-a262-fb1325bf2949","block_type":"box","text":"Disclaimer","page_number":46,"box":{"x":197,"y":46,"width":83,"height":9}},{"id":"d3be1752-221e-4eaa-a8e4-ed287d07f75a","block_type":"box","text":"BLOOMBERG DOES NOT","page_number":46,"box":{"x":197,"y":78,"width":272,"height":9}},{"id":"2e52ae4f-57f6-4032-ae2b-feb94c6cd3ca","block_type":"box","text":"GUARANTEE THE ACCURACY","page_number":46,"box":{"x":196,"y":92,"width":273,"height":9}},{"id":"1209d432-dc03-47b6-ab72-8d389891d639","block_type":"box","text":"AND/OR THE COMPLETENESS OF","page_number":46,"box":{"x":196,"y":106,"width":273,"height":8}},{"id":"85987f52-83f2-4195-a7b3-f9eac9cf1080","block_type":"box","text":"THE INDICES OR ANY DATA","page_number":46,"box":{"x":196,"y":119,"width":273,"height":9}},{"id":"c88f45f8-f956-4148-9091-902144028a55","block_type":"box","text":"RELATED THERETO AND SHALL","page_number":46,"box":{"x":197,"y":133,"width":272,"height":9}},{"id":"fe5981ba-a5bf-4a72-bd70-a456e1acb944","block_type":"box","text":"HAVE NO LIABILITY FOR ANY","page_number":46,"box":{"x":197,"y":147,"width":272,"height":8}},{"id":"33235540-7ed3-4533-a99d-29cb4a33c17e","block_type":"box","text":"ERRORS, OMISSIONS OR","page_number":46,"box":{"x":197,"y":160,"width":271,"height":11}},{"id":"b6898393-bf0b-4906-8ea7-2bc5381fc041","block_type":"box","text":"INTERRUPTIONS THEREIN.","page_number":46,"box":{"x":197,"y":174,"width":270,"height":9}},{"id":"4f07e5e5-7f24-45d5-92b1-e7e27fd62070","block_type":"box","text":"BLOOMBERG DOES NOT MAKE","page_number":46,"box":{"x":197,"y":187,"width":271,"height":9}},{"id":"200c6810-22ae-4a4f-9a59-0b0e33d95bf1","block_type":"box","text":"ANY WARRANTY, EXPRESS OR","page_number":46,"box":{"x":196,"y":201,"width":272,"height":11}},{"id":"68994c91-aa09-410c-9f88-7ae97e1898db","block_type":"box","text":"IMPLIED, AS TO RESULTS TO BE","page_number":46,"box":{"x":197,"y":215,"width":270,"height":10}},{"id":"abe8657e-64c0-40aa-855a-2fd0e1a62a6e","block_type":"box","text":"OBTAINED BY LICENSEE,","page_number":46,"box":{"x":196,"y":229,"width":271,"height":10}},{"id":"ca930813-0367-44c3-967f-064ab99054dc","block_type":"box","text":"OWNERS OF THE SUB-FUNDS OR","page_number":46,"box":{"x":196,"y":242,"width":272,"height":9}},{"id":"2ff5a9cd-2bc5-4395-a234-d80802fe83ca","block_type":"box","text":"ANY OTHER PERSON OR ENTITY","page_number":46,"box":{"x":196,"y":256,"width":273,"height":9}},{"id":"0bf0e410-8d73-47f5-91b7-5fa7231a69e0","block_type":"box","text":"FROM THE USE OF THE INDICES","page_number":46,"box":{"x":197,"y":269,"width":271,"height":9}},{"id":"4f51120f-c47f-48d7-88d9-4654dc7e0362","block_type":"box","text":"OR ANY DATA RELATED","page_number":46,"box":{"x":196,"y":283,"width":272,"height":9}},{"id":"d1069081-3a0d-47ab-a473-e3a0009d46e2","block_type":"box","text":"THERETO. BLOOMBERG DOES","page_number":46,"box":{"x":196,"y":297,"width":272,"height":9}},{"id":"cf6f3c0f-1b30-49d0-850d-32bcdcd1938e","block_type":"box","text":"NOT MAKE ANY EXPRESS OR","page_number":46,"box":{"x":197,"y":310,"width":271,"height":9}},{"id":"7b0f105c-ac22-4841-8fad-159cd0138580","block_type":"box","text":"IMPLIED WARRANTIES AND","page_number":46,"box":{"x":197,"y":324,"width":271,"height":9}},{"id":"59a8e7d6-cf48-4ffd-9ea1-00a451a9a9b8","block_type":"box","text":"EXPRESSLY DISCLAIMS ALL","page_number":46,"box":{"x":197,"y":338,"width":272,"height":9}},{"id":"d764ce11-b6ea-46cf-a5c8-edebb2650183","block_type":"box","text":"WARRANTIES OF","page_number":46,"box":{"x":196,"y":351,"width":273,"height":9}},{"id":"a60f79d4-0977-4e22-ac59-ce971443cff8","block_type":"box","text":"MERCHANTABILITY OR FITNESS","page_number":46,"box":{"x":197,"y":365,"width":271,"height":9}},{"id":"a038e696-9826-4e70-8fbf-9fce687cbeb8","block_type":"box","text":"FOR A PARTICULAR PURPOSE","page_number":46,"box":{"x":197,"y":379,"width":271,"height":9}},{"id":"97ea1d2e-bb38-4281-ba08-d643f663ca28","block_type":"box","text":"OR USE WITH RESPECT TO THE","page_number":46,"box":{"x":196,"y":392,"width":272,"height":9}},{"id":"0a60e932-07c6-47b5-9d38-4cf0f125c47b","block_type":"box","text":"INDICES OR ANY DATA RELATED","page_number":46,"box":{"x":197,"y":406,"width":271,"height":9}},{"id":"d3fc4c95-db51-4de8-865c-e4368feef1c9","block_type":"box","text":"THERETO. WITHOUT LIMITING","page_number":46,"box":{"x":196,"y":420,"width":271,"height":9}},{"id":"597a2182-0623-49a0-8627-f6e7091ac309","block_type":"box","text":"ANY OF THE FOREGOING, TO THE","page_number":46,"box":{"x":196,"y":433,"width":272,"height":11}},{"id":"d9b5abb7-1308-4e41-b541-0e33474040e5","block_type":"box","text":"MAXIMUM EXTENT ALLOWED BY","page_number":46,"box":{"x":197,"y":447,"width":272,"height":9}},{"id":"05cacdf9-f06e-45b6-bd66-47bb91517490","block_type":"box","text":"LAW, BLOOMBERG, ITS","page_number":46,"box":{"x":197,"y":461,"width":271,"height":10}},{"id":"a4f455a2-738b-4f1e-9895-10c2ee78f23c","block_type":"box","text":"LICENSORS, AND ITS AND THEIR","page_number":46,"box":{"x":197,"y":474,"width":271,"height":11}},{"id":"0d657a11-8749-4b65-abd5-220afa3e26b5","block_type":"box","text":"RESPECTIVE EMPLOYEES,","page_number":46,"box":{"x":197,"y":488,"width":271,"height":10}},{"id":"8bc3aa4b-fd46-4014-ba80-7cd352dfdf52","block_type":"box","text":"CONTRACTORS, AGENTS,","page_number":46,"box":{"x":196,"y":502,"width":271,"height":10}},{"id":"9598e390-9cb5-4edd-b955-5c0953d6e267","block_type":"box","text":"SUPPLIERS, AND VENDORS","page_number":46,"box":{"x":196,"y":515,"width":272,"height":11}},{"id":"f6191343-0576-4f4a-b6f9-b68c17c2c710","block_type":"box","text":"SHALL HAVE NO LIABILITY OR","page_number":46,"box":{"x":196,"y":529,"width":272,"height":9}},{"id":"fcc156cd-c8eb-4628-bbdd-4a82d788001d","block_type":"box","text":"RESPONSIBILITY WHATSOEVER","page_number":46,"box":{"x":197,"y":543,"width":271,"height":9}},{"id":"205f66c8-478f-40d3-89ee-e159af4a95aa","block_type":"box","text":"FOR ANY INJURY OR DAMAGES—","page_number":46,"box":{"x":197,"y":556,"width":272,"height":9}},{"id":"985a5c00-edf8-41cf-944d-e43e05c53583","block_type":"box","text":"WHETHER DIRECT, INDIRECT,","page_number":46,"box":{"x":196,"y":570,"width":272,"height":10}},{"id":"04746571-e247-4169-9295-f27be8952351","block_type":"box","text":"CONSEQUENTIAL, INCIDENTAL,","page_number":46,"box":{"x":196,"y":584,"width":271,"height":10}},{"id":"26090043-512d-4020-a1cf-4106fe6689f3","block_type":"box","text":"PUNITIVE OR OTHERWISE—","page_number":46,"box":{"x":197,"y":597,"width":272,"height":9}},{"id":"2c682c21-5ec5-4134-bdc1-9250e0328ccc","block_type":"box","text":"ARISING IN CONNECTION WITH","page_number":46,"box":{"x":196,"y":611,"width":272,"height":9}},{"id":"5e2a81a6-06ce-474d-84bc-73dda5b413f4","block_type":"box","text":"THE SUB-FUNDS OR INDICES OR","page_number":46,"box":{"x":196,"y":625,"width":272,"height":9}},{"id":"839b9f72-d0b9-416d-a6af-361dfeed31d5","block_type":"box","text":"ANY DATA OR VALUES RELATING","page_number":46,"box":{"x":196,"y":638,"width":272,"height":9}},{"id":"8e50a186-5f47-4f65-857e-c289d63d1b36","block_type":"box","text":"THERETO—WHETHER ARISING","page_number":46,"box":{"x":196,"y":652,"width":272,"height":9}},{"id":"618efbb0-51a8-426a-b95d-1616846fb620","block_type":"box","text":"FROM THEIR NEGLIGENCE OR","page_number":46,"box":{"x":197,"y":665,"width":271,"height":9}},{"id":"388ea204-70aa-416a-878e-855983b635e4","block_type":"box","text":"OTHERWISE, EVEN IF NOTIFIED","page_number":46,"box":{"x":196,"y":679,"width":272,"height":11}},{"id":"864f8851-356a-4343-9205-854e3aff1f09","block_type":"box","text":"OF THE POSSIBILITY THEREOF.","page_number":46,"box":{"x":196,"y":693,"width":256,"height":9}},{"id":"98fb2952-ebb4-428b-8a79-aac8007c6a80","block_type":"box","text":"The Bank of","page_number":46,"box":{"x":71,"y":707,"width":106,"height":9}},{"id":"a0f59a5a-8f45-449e-87db-f558e8a94d71","block_type":"box","text":"England","page_number":46,"box":{"x":72,"y":721,"width":59,"height":11}},{"id":"9bcacba6-fdde-43f8-b5e2-7042edd11579","block_type":"box","text":"The Bank of England (the benchmark","page_number":46,"box":{"x":196,"y":707,"width":273,"height":11}},{"id":"a6583c0a-51df-44a2-b7b7-be0caace626d","block_type":"box","text":"administrator of SONIA) does not","page_number":46,"box":{"x":196,"y":721,"width":272,"height":11}},{"id":"fd3581ab-8fb8-4039-b86a-f2d078c333a0","block_type":"box","text":"endorse, approve or guarantee any","page_number":46,"box":{"x":196,"y":735,"width":273,"height":11}},{"id":"23dfcc05-8bb6-4a68-9916-c1787bb9d6c3","block_type":"box","text":"ICE SONIA Index, and it expressly","page_number":46,"box":{"x":197,"y":748,"width":272,"height":11}},{"id":"6c115648-3598-49c4-bb3d-b3d77b8d41fc","block_type":"box","text":"disclaims any liability for any ICE","page_number":46,"box":{"x":196,"y":762,"width":271,"height":11}},{"id":"7ba53653-bbaa-4ee8-936f-a9572a060dcf","block_type":"box","text":"SONIA Index, and makes no","page_number":46,"box":{"x":196,"y":775,"width":272,"height":11}},{"id":"42c1166a-690f-49eb-a173-0c5c01b5cbf0","block_type":"box","text":"representations or warranties","page_number":46,"box":{"x":197,"y":789,"width":271,"height":11}},{"id":"18fa75fd-a698-4676-a473-504ead332002","block_type":"box","text":"whether express or implied, that any","page_number":46,"box":{"x":196,"y":803,"width":273,"height":11}},{"id":"f6629446-cf2d-44c7-b5a6-eb392f473831","block_type":"box","text":"ICE SONIA Index contains,","page_number":46,"box":{"x":197,"y":816,"width":270,"height":11}},{"id":"5d78b72e-6705-416f-97c9-2756547badde","block_type":"box","text":"comprises or is based on the SONIA","page_number":46,"box":{"x":196,"y":830,"width":273,"height":11}},{"id":"23570c1a-720f-4f9c-ac21-971c9a3f9566","block_type":"box","text":"benchmark, nor does it make any","page_number":46,"box":{"x":196,"y":844,"width":273,"height":11}},{"id":"c8d8daa1-b265-48a8-be47-b065d8d37ab9","block_type":"box","text":"representations or warranties","page_number":46,"box":{"x":197,"y":858,"width":271,"height":10}},{"id":"33a6c2a2-811c-4af9-9a3f-6e5c6c3ca3db","block_type":"box","text":"whether express or implied as to the","page_number":46,"box":{"x":196,"y":871,"width":272,"height":11}},{"id":"a8477df5-072d-40f7-abd9-e27692519cec","block_type":"box","text":"currency, accuracy, timeliness,","page_number":46,"box":{"x":196,"y":885,"width":272,"height":11}},{"id":"218970cb-ff58-4353-838d-c0cc92988ebe","block_type":"box","text":"completeness or fitness of any ICE","page_number":46,"box":{"x":196,"y":898,"width":271,"height":11}},{"id":"54cea5ee-b273-450a-b2fb-0df679a36a92","block_type":"box","text":"SONIA Index. To the extent that any","page_number":46,"box":{"x":196,"y":912,"width":273,"height":11}},{"id":"46c58e69-884f-4643-8802-1e586ffadfdb","block_type":"box","text":"Index","page_number":46,"box":{"x":533,"y":46,"width":43,"height":9}},{"id":"79181eb9-d9c7-4c09-abf7-bc3094033d60","block_type":"box","text":"provider","page_number":46,"box":{"x":533,"y":62,"width":66,"height":11}},{"id":"b00cd5f5-be50-443e-b2e3-582957ac62e3","block_type":"box","text":"Disclaimer","page_number":46,"box":{"x":658,"y":46,"width":83,"height":9}},{"id":"fd67b3ce-456e-4b64-a16e-98dba916b1d6","block_type":"box","text":"ICE SONIA Index comprises or is","page_number":46,"box":{"x":658,"y":78,"width":272,"height":11}},{"id":"9d13d0d9-27a4-4943-9650-5be420387d91","block_type":"box","text":"based on the SONIA benchmark, the","page_number":46,"box":{"x":658,"y":92,"width":271,"height":10}},{"id":"4b0a1c67-95fb-4ea1-acd5-72a44cc350cf","block_type":"box","text":"\"SONIA\" mark is used under licence","page_number":46,"box":{"x":658,"y":106,"width":272,"height":8}},{"id":"e9d75b15-d045-443e-b6b5-4c0d87d42647","block_type":"box","text":"from the Bank of England and the","page_number":46,"box":{"x":657,"y":119,"width":272,"height":12}},{"id":"dd8579e9-b399-42ec-bd66-66af785aa42b","block_type":"box","text":"use of such mark does not imply or","page_number":46,"box":{"x":658,"y":133,"width":272,"height":11}},{"id":"95ad9aff-4b3f-4791-af11-a9ed5d9ac2ae","block_type":"box","text":"express any approval or","page_number":46,"box":{"x":657,"y":147,"width":273,"height":11}},{"id":"9a1d7be2-9670-4b69-96f0-55d40d294dff","block_type":"box","text":"endorsement by the Bank of","page_number":46,"box":{"x":657,"y":160,"width":273,"height":11}},{"id":"3cfeb191-8fbc-4e97-9f0a-c53de109afee","block_type":"box","text":"England. SONIA is copyright the","page_number":46,"box":{"x":658,"y":174,"width":272,"height":11}},{"id":"36b2652f-b918-44e4-be16-5768c30005a6","block_type":"box","text":"Bank of England. The trade marks","page_number":46,"box":{"x":658,"y":188,"width":272,"height":11}},{"id":"8a948fb4-c769-4dad-b088-ac7406794ef1","block_type":"box","text":"“Bank of England” and “SONIA” are","page_number":46,"box":{"x":657,"y":201,"width":272,"height":11}},{"id":"6ff70e34-4d52-4ff7-89f9-2c1dde06bb1d","block_type":"box","text":"registered trade marks of the Bank of","page_number":46,"box":{"x":658,"y":215,"width":272,"height":11}},{"id":"bc4b1078-f621-425c-ab13-3c90b3d5e2fe","block_type":"box","text":"England. All Rights Reserved. The","page_number":46,"box":{"x":658,"y":229,"width":271,"height":11}},{"id":"a2b18981-7617-49af-b38e-a2cd140b922f","block_type":"box","text":"SONIA benchmark includes the","page_number":46,"box":{"x":658,"y":242,"width":271,"height":9}},{"id":"0dd48313-bccb-4cd8-8509-b00ba7864fdd","block_type":"box","text":"proprietary information of the Bank of","page_number":46,"box":{"x":658,"y":256,"width":272,"height":11}},{"id":"b966badb-55bf-43f4-87e7-322a74a6efa1","block_type":"box","text":"England and the data comprising the","page_number":46,"box":{"x":658,"y":270,"width":271,"height":11}},{"id":"63ddeb67-869c-4ed5-9df9-b775f6c65416","block_type":"box","text":"SONIA benchmark may not be","page_number":46,"box":{"x":658,"y":283,"width":271,"height":11}},{"id":"c2d582f6-c3d5-4831-a0c5-f1848d5ecf85","block_type":"box","text":"copied or distributed except as","page_number":46,"box":{"x":657,"y":297,"width":273,"height":11}},{"id":"aef8b624-f3a3-45d6-8c56-38dc73287ea1","block_type":"box","text":"specifically authorised. The SONIA","page_number":46,"box":{"x":657,"y":310,"width":273,"height":12}},{"id":"726b867d-9a53-4ac7-8aaa-076f19fb1a49","block_type":"box","text":"benchmark is not intended to be","page_number":46,"box":{"x":658,"y":324,"width":272,"height":9}},{"id":"ed91f2ac-9063-4b4d-a652-57cf2daec017","block_type":"box","text":"relied upon as authoritative or taken","page_number":46,"box":{"x":658,"y":338,"width":271,"height":11}},{"id":"2e3a5264-76d7-4829-be46-2791640b2da5","block_type":"box","text":"in substitution for the exercise of","page_number":46,"box":{"x":658,"y":351,"width":272,"height":9}},{"id":"255303f6-738f-4365-ad56-6379f1373c93","block_type":"box","text":"judgement and do not constitute","page_number":46,"box":{"x":656,"y":365,"width":273,"height":11}},{"id":"ee8201f7-d6cc-4f2b-a7a5-7c2c9cdafd5f","block_type":"box","text":"investment advice. The SONIA","page_number":46,"box":{"x":658,"y":379,"width":272,"height":9}},{"id":"56bc10a1-58a5-4d1e-a688-f4a77b557c31","block_type":"box","text":"benchmark is not, and should not be","page_number":46,"box":{"x":658,"y":393,"width":272,"height":10}},{"id":"6bb1a673-9ee0-4211-a08b-e597520d3add","block_type":"box","text":"construed as, an offer, bid or","page_number":46,"box":{"x":657,"y":406,"width":273,"height":10}},{"id":"b5fc97c3-423f-4c2c-9a94-f486a86012b6","block_type":"box","text":"solicitation in relation to any financial","page_number":46,"box":{"x":657,"y":420,"width":272,"height":11}},{"id":"0c166e95-79c2-4221-ae4e-a27912f2d391","block_type":"box","text":"instrument. The Bank of England","page_number":46,"box":{"x":658,"y":433,"width":271,"height":12}},{"id":"91f8f607-3d83-478f-ac6a-d98e5cc481fd","block_type":"box","text":"does not guarantee, and expressly","page_number":46,"box":{"x":657,"y":447,"width":273,"height":11}},{"id":"3cc3f9b1-a6c9-41a6-a10f-7f91e23bae2d","block_type":"box","text":"disclaims any liability for, and makes","page_number":46,"box":{"x":657,"y":461,"width":273,"height":11}},{"id":"4d2f8a5e-448d-47c4-af78-4d20c7be04e7","block_type":"box","text":"no representations or warranties","page_number":46,"box":{"x":658,"y":475,"width":272,"height":11}},{"id":"f078e671-8ec8-49e4-8aeb-a033c8a9548d","block_type":"box","text":"whether express or implied, as to the","page_number":46,"box":{"x":657,"y":488,"width":272,"height":11}},{"id":"b1800da6-00f7-4e87-9253-3f34b8f07080","block_type":"box","text":"currency, accuracy, timeliness,","page_number":46,"box":{"x":657,"y":502,"width":272,"height":11}},{"id":"3ed5ffb6-7aee-449f-a9fe-b5e11e8b91d2","block_type":"box","text":"completeness or fitness for any","page_number":46,"box":{"x":657,"y":515,"width":273,"height":11}},{"id":"9ab51da3-47f8-45d8-bfc7-4b628d5c74af","block_type":"box","text":"particular purpose of the SONIA","page_number":46,"box":{"x":658,"y":529,"width":272,"height":11}},{"id":"8ef55709-07fc-4c0a-9844-372e281683cb","block_type":"box","text":"benchmark. The Bank of England","page_number":46,"box":{"x":658,"y":543,"width":271,"height":11}},{"id":"1ef56f8a-d022-46d6-9b97-28de56f5c8ec","block_type":"box","text":"accepts no liability whatsoever for","page_number":46,"box":{"x":657,"y":556,"width":273,"height":12}},{"id":"6b360c42-59c0-4372-a765-9076c79346f4","block_type":"box","text":"any loss (including, but not limited to","page_number":46,"box":{"x":657,"y":570,"width":273,"height":11}},{"id":"cd3de637-4c88-416d-995a-9a39cfa682dd","block_type":"box","text":"any direct, indirect or consequential","page_number":46,"box":{"x":657,"y":584,"width":272,"height":11}},{"id":"3a0fa585-8656-4d57-85f8-31083745cc63","block_type":"box","text":"loss, whether or not such loss is","page_number":46,"box":{"x":658,"y":597,"width":271,"height":11}},{"id":"d0d0c304-7c27-4785-ac65-59b7c6e2483a","block_type":"box","text":"foreseeable and whether or not the","page_number":46,"box":{"x":657,"y":611,"width":272,"height":9}},{"id":"9435acaa-c945-4f76-96fd-9c6ab6e048ba","block_type":"box","text":"Bank of England has been appraised","page_number":46,"box":{"x":658,"y":625,"width":271,"height":11}},{"id":"62b95545-5e8d-4ab4-91a8-dec298794357","block_type":"box","text":"of the use to which the SONIA","page_number":46,"box":{"x":657,"y":638,"width":273,"height":9}},{"id":"40fb8fb5-04bf-43d5-89dd-10d3fec43ac9","block_type":"box","text":"benchmark will be put) howsoever","page_number":46,"box":{"x":658,"y":652,"width":272,"height":11}},{"id":"e6cb81d6-042c-433f-a49a-c2d5a6d2fa1e","block_type":"box","text":"arising from the use, the timeliness of","page_number":46,"box":{"x":657,"y":666,"width":273,"height":11}},{"id":"18422b75-d3c2-4a40-a0dc-e038edb91b14","block_type":"box","text":"delivery or the failure of delivery of","page_number":46,"box":{"x":657,"y":679,"width":273,"height":11}},{"id":"36720e1c-d9dd-4d6f-a6d2-154bd833435b","block_type":"box","text":"the SONIA benchmark","page_number":46,"box":{"x":657,"y":693,"width":168,"height":9}},{"id":"8ad233f5-e84b-46e4-af8f-697c97aea482","block_type":"box","text":"42. Preferential Treatment","page_number":46,"box":{"x":535,"y":719,"width":225,"height":9}},{"id":"2a2fb870-dabf-4ccd-a1c6-50cb7409a2dd","block_type":"box","text":"From time to time the ACS Manager may afford","page_number":46,"box":{"x":530,"y":739,"width":393,"height":11}},{"id":"882d9865-9189-495b-b71a-d8df0df4abf5","block_type":"box","text":"preferential terms to certain investors or certain","page_number":46,"box":{"x":529,"y":752,"width":393,"height":11}},{"id":"5cb6a528-a4c7-4190-8148-1ec5159ffdf2","block_type":"box","text":"groups of investors. In assessing whether such terms","page_number":46,"box":{"x":529,"y":766,"width":394,"height":11}},{"id":"681690b3-3421-4e12-8cca-a14042830a97","block_type":"box","text":"are afforded to an investor, the ACS Manager will","page_number":46,"box":{"x":529,"y":779,"width":393,"height":12}},{"id":"2765acb5-3356-4263-95ef-19a0fc66ff65","block_type":"box","text":"ensure that any such concession is not inconsistent","page_number":46,"box":{"x":529,"y":793,"width":394,"height":11}},{"id":"cb5b9cd9-379f-4365-9bd9-992b53cd0bc1","block_type":"box","text":"with its obligation to act in the overall best interests of","page_number":46,"box":{"x":528,"y":807,"width":395,"height":11}},{"id":"972c4c72-24b5-4084-88a9-6d8f39143bae","block_type":"box","text":"the relevant Sub-Fund and its investors. In particular,","page_number":46,"box":{"x":528,"y":821,"width":394,"height":11}},{"id":"d7cf2a29-3178-4caa-8764-881641384c28","block_type":"box","text":"the ACS Manager may exercise its discretion to waive","page_number":46,"box":{"x":528,"y":834,"width":395,"height":11}},{"id":"04112ae7-7ea6-46c3-ad2d-f823d83147b5","block_type":"box","text":"charges or investment minima for investment in a","page_number":46,"box":{"x":529,"y":848,"width":394,"height":11}},{"id":"4868645a-90d8-4ba5-a46d-365e7e2fcca6","block_type":"box","text":"Class by investors that are investing sufficiently large","page_number":46,"box":{"x":529,"y":861,"width":394,"height":12}},{"id":"18e30c42-ef7b-4497-9a80-50f4057be712","block_type":"box","text":"amounts or institutional investors including investors","page_number":46,"box":{"x":529,"y":875,"width":394,"height":11}},{"id":"ae917731-ac3b-405e-9c22-216a50b6344c","block_type":"box","text":"within the ACS Manager’s group. The ACS Manager","page_number":46,"box":{"x":528,"y":889,"width":395,"height":11}},{"id":"85e7ed69-b44f-41c6-baaa-2ffff6a194a9","block_type":"box","text":"may also have agreements in place with such groups","page_number":46,"box":{"x":529,"y":903,"width":394,"height":11}},{"id":"92819715-4731-4351-b715-715ffdb69f3c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026) 47","page_number":47,"box":{"x":62,"y":929,"width":322,"height":8}},{"id":"587f01aa-589f-4e85-a92c-5a0db0e87fc3","block_type":"box","text":"of investors which result in them paying a reduced","page_number":47,"box":{"x":67,"y":46,"width":394,"height":11}},{"id":"69ace445-ece8-41e5-ac74-d96ba3b6b48e","block_type":"box","text":"ACS Management Charge.","page_number":47,"box":{"x":67,"y":59,"width":200,"height":12}},{"id":"bdd4c8f0-d205-4d2c-aa63-74b85ff7b1dc","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":48,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"8c1ec396-a8d7-49d2-b927-df77ece15d00","block_type":"box","text":"48","page_number":48,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"e843adca-8c23-4029-9349-3450379a8b09","block_type":"box","text":"Aviva Investors: Confidential","page_number":48,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"efba37cf-c8ae-49a0-a6b7-86d5e8c70a43","block_type":"box","text":"APPENDIX 1","page_number":48,"box":{"x":491,"y":53,"width":96,"height":8}},{"id":"57f66dcd-d463-4714-81b0-2921553f5614","block_type":"box","text":"AI Stewardship UK Equity Fund","page_number":48,"box":{"x":62,"y":86,"width":250,"height":11}},{"id":"ec811366-b596-4d9d-bf43-ec6e84eddf75","block_type":"box","text":"#","page_number":48,"box":{"x":314,"y":85,"width":5,"height":5}},{"id":"1df87a05-7640-4e2f-b1ac-be5a5a5e6e50","block_type":"box","text":"FCA product reference number: 658285","page_number":48,"box":{"x":63,"y":105,"width":312,"height":11}},{"id":"bde5a17d-695e-49e4-9e27-8c3a7037031e","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":48,"box":{"x":62,"y":144,"width":860,"height":11}},{"id":"9a76982a-5537-4629-ad18-02bac87825a6","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":48,"box":{"x":62,"y":158,"width":366,"height":11}},{"id":"92443320-65ed-4b89-a717-2caf42de8cd3","block_type":"box","text":"This product does not have a UK sustainable investment label.","page_number":48,"box":{"x":62,"y":197,"width":509,"height":11}},{"id":"57013139-cdcb-4888-9f2b-67109455c667","block_type":"box","text":"This is because – although the Sub-Fund has","page_number":48,"box":{"x":578,"y":197,"width":344,"height":12}},{"id":"6269ff90-0574-4d33-af18-9f532b50abe7","block_type":"box","text":"sustainability characteristics - it does not currently meet the criteria for a label. Sustainable investment labels help","page_number":48,"box":{"x":62,"y":211,"width":861,"height":11}},{"id":"eeb3593c-b247-4252-9954-697d1ea2a545","block_type":"box","text":"investors find products that have a specific sustainability goal. They can be applied to funds with an explicit","page_number":48,"box":{"x":62,"y":225,"width":861,"height":11}},{"id":"3535c8eb-4526-4997-b62e-3c4e2c64df62","block_type":"box","text":"sustainability objective that also meet other specific regulatory criteria for a UK sustainable investment label.","page_number":48,"box":{"x":62,"y":238,"width":800,"height":12}},{"id":"dd252abe-7488-4411-a885-401ed06a93fc","block_type":"box","text":"Investment Objectives","page_number":48,"box":{"x":62,"y":278,"width":177,"height":11}},{"id":"b2b9580f-5456-47ca-93a9-4dd3e4a3f60c","block_type":"box","text":"The Sub-Fund aims, through the responsible allocation of capital, to grow your investment and provide an average","page_number":48,"box":{"x":62,"y":297,"width":861,"height":11}},{"id":"3d3cd799-bbcd-4631-b0ee-bfa0ba9cae9e","block_type":"box","text":"annual net return greater than the FTSE® All-Share Custom Index over a rolling 5-year period through investment in","page_number":48,"box":{"x":62,"y":311,"width":860,"height":11}},{"id":"6b41f4ba-8b1f-46b0-8fd5-546398526c11","block_type":"box","text":"shares of UK companies.","page_number":48,"box":{"x":62,"y":325,"width":185,"height":11}},{"id":"bac4f30c-be21-4cbf-9da6-16b478a0c44d","block_type":"box","text":"At least 85% of the Sub-Fund’s investments (the “","page_number":48,"box":{"x":62,"y":344,"width":363,"height":11}},{"id":"85d617df-d77d-4147-9389-b01a4407988c","block_type":"box","text":"minimum stewardship allocation","page_number":48,"box":{"x":426,"y":344,"width":257,"height":11}},{"id":"d693c059-6ea4-4659-b6a4-a2f5baff0087","block_type":"box","text":"”) must contribute to one of three","page_number":48,"box":{"x":685,"y":344,"width":238,"height":11}},{"id":"89869955-dc24-48f2-ac2b-a0c949e50d87","block_type":"box","text":"pillars through their products and services or through their operations:","page_number":48,"box":{"x":62,"y":360,"width":515,"height":11}},{"id":"03f0456e-e5ed-431b-b1c1-157481f70925","block_type":"box","text":"∙","page_number":48,"box":{"x":63,"y":385,"width":2,"height":1}},{"id":"6ac68875-0a18-4ae3-be17-b9fa7a18d7df","block_type":"box","text":"Climate","page_number":48,"box":{"x":71,"y":381,"width":60,"height":9}},{"id":"72b7422f-900a-4db6-b7d1-1126de37e938","block_type":"box","text":"- for example, tackling the causes or impacts of climate change;","page_number":48,"box":{"x":137,"y":381,"width":471,"height":12}},{"id":"0363af0e-bf59-4768-a2d9-7b34ffb530dc","block_type":"box","text":"∙","page_number":48,"box":{"x":63,"y":407,"width":2,"height":1}},{"id":"c604bf28-d5bb-4e23-8900-f759d8faad47","block_type":"box","text":"Earth","page_number":48,"box":{"x":72,"y":403,"width":40,"height":9}},{"id":"bbd88a89-c2b8-466b-bd02-c7d517c0b88a","block_type":"box","text":"- for example, tackling increasing biodiversity loss and resource scarcity;","page_number":48,"box":{"x":119,"y":403,"width":536,"height":11}},{"id":"aff92302-1a53-4d8d-ba71-3b151f5dc84f","block_type":"box","text":"∙","page_number":48,"box":{"x":63,"y":429,"width":2,"height":1}},{"id":"664fefad-a9ac-488a-806e-6aa9658ac084","block_type":"box","text":"People","page_number":48,"box":{"x":72,"y":425,"width":53,"height":11}},{"id":"412baa6c-7e82-44af-8947-e15dc004abb4","block_type":"box","text":"- for example, tackling social inequality and unfair working practices.","page_number":48,"box":{"x":131,"y":425,"width":504,"height":11}},{"id":"633552da-80c3-492b-ae4f-448647d41db6","block_type":"box","text":"Further details on the Investment Manager’s proprietary investment framework are set out under “Sustainability","page_number":48,"box":{"x":63,"y":446,"width":860,"height":12}},{"id":"3b8ce9db-e8ca-4add-bd85-bbfd00acdbc8","block_type":"box","text":"Strategy” below.","page_number":48,"box":{"x":62,"y":462,"width":119,"height":11}},{"id":"6a86eb22-9b8f-403c-aaea-2515e65e23cb","block_type":"box","text":"Investment Policy","page_number":48,"box":{"x":62,"y":505,"width":142,"height":12}},{"id":"872e0dc7-6e63-4110-a38f-6ca1ee6a8b39","block_type":"box","text":"Core investment:","page_number":48,"box":{"x":62,"y":527,"width":135,"height":9}},{"id":"72238df6-2649-468f-ad33-576ab1a29ea3","block_type":"box","text":"At least 85% of the Sub-Fund will be invested in shares of companies domiciled or incorporated in the UK.","page_number":48,"box":{"x":62,"y":546,"width":785,"height":12}},{"id":"3a80c9f1-5e29-4c39-a6c6-f889fbdbf459","block_type":"box","text":"Other investments","page_number":48,"box":{"x":62,"y":566,"width":146,"height":9}},{"id":"1db39325-5af6-40e3-b10e-2b42041cfe91","block_type":"box","text":":","page_number":48,"box":{"x":210,"y":569,"width":2,"height":6}},{"id":"c508e50c-a835-4676-be9b-96893c180b71","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies),","page_number":48,"box":{"x":62,"y":586,"width":860,"height":11}},{"id":"aa62bc15-c9dd-444b-8e3a-e60286d00f90","block_type":"box","text":"derivatives, cash and deposits.","page_number":48,"box":{"x":62,"y":600,"width":228,"height":10}},{"id":"37c030cf-c9c8-451c-849d-28c51abe38f7","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":48,"box":{"x":63,"y":619,"width":860,"height":11}},{"id":"0fcd1fd2-3611-4c06-9bed-ca9050429bfe","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":48,"box":{"x":62,"y":633,"width":861,"height":11}},{"id":"7397d9af-a09a-466b-9001-da1e2e23a851","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":48,"box":{"x":62,"y":646,"width":545,"height":12}},{"id":"307ebb94-0932-4c54-8731-18c05162c52f","block_type":"box","text":"Exclusions:","page_number":48,"box":{"x":63,"y":666,"width":91,"height":9}},{"id":"678247f2-15eb-408d-bf03-954cbda19844","block_type":"box","text":"The Sub-Fund is subject to two sets of screens, the Aviva Investors’ baseline exclusion policy and the","page_number":48,"box":{"x":62,"y":685,"width":758,"height":12}},{"id":"380b3ac2-9fe5-4ac1-bba8-ddcbbee97ddf","block_type":"box","text":"stewardship","page_number":48,"box":{"x":826,"y":686,"width":97,"height":11}},{"id":"2f84e02a-3a1b-48a1-9be5-1a83f7d11939","block_type":"box","text":"exclusions,","page_number":48,"box":{"x":62,"y":699,"width":90,"height":11}},{"id":"4c1fe123-eca8-4fbc-94f6-a09a81c6d98c","block_type":"box","text":"which exclude companies that do not meet certain ethical, social and environmental standards, so that","page_number":48,"box":{"x":158,"y":699,"width":765,"height":11}},{"id":"0504d539-a59f-4f52-932d-b0a12389518b","block_type":"box","text":"the Sub-Fund does not invest in companies that the Investment Manager regards as incompatible with the three pillars","page_number":48,"box":{"x":62,"y":713,"width":860,"height":11}},{"id":"228af4ee-be9e-4924-b475-385bf59d8142","block_type":"box","text":"of Climate, People and Earth. The purpose of these screens is to ensure that the Sub-Fund does not invest in","page_number":48,"box":{"x":62,"y":726,"width":860,"height":11}},{"id":"099c8dc7-cdf7-4db2-a824-b94e3a0e9192","block_type":"box","text":"companies that derive prescribed levels of revenue from a range of activities, including certain fossil fuel (thermal","page_number":48,"box":{"x":62,"y":740,"width":860,"height":11}},{"id":"f16f9de9-7039-4c8b-a931-25eba7a23364","block_type":"box","text":"coal, oil and gas) activities, or companies that have significant reserves of certain fossil fuels, activities that are not","page_number":48,"box":{"x":62,"y":754,"width":861,"height":11}},{"id":"3ef8d44a-f453-410d-b6b9-b7b5438e3da2","block_type":"box","text":"compatible with animal welfare, or certain activities connected to alcohol and gambling, genetic modification and adult","page_number":48,"box":{"x":62,"y":767,"width":861,"height":12}},{"id":"2907a969-a3f9-41d1-830c-c0935b791cc2","block_type":"box","text":"entertainment -","page_number":48,"box":{"x":62,"y":781,"width":111,"height":9}},{"id":"66427554-c8b1-476d-ad33-847bde654308","block_type":"box","text":"please see Appendices 2 and 3 for information on these investment restrictions","page_number":48,"box":{"x":180,"y":781,"width":633,"height":11}},{"id":"ae4b2e33-ab00-485e-8392-00f8d3bcdd22","block_type":"box","text":".","page_number":48,"box":{"x":815,"y":789,"width":2,"height":1}},{"id":"7e4ecd29-88fe-4e49-b0ab-0c052f6f1a79","block_type":"box","text":"If there are any differences between the baseline exclusion policy and the stewardship exclusions, the more restrictive","page_number":48,"box":{"x":63,"y":801,"width":860,"height":11}},{"id":"e4f60355-8c7a-49a7-ae14-eb64139412e3","block_type":"box","text":"exclusions will apply. As these screens only exclude shares issued by companies, this screening process is not","page_number":48,"box":{"x":62,"y":814,"width":861,"height":12}},{"id":"8299b541-4c52-42c2-86e4-0044a44a497f","block_type":"box","text":"applied to other investments, for example cash and certain derivatives.","page_number":48,"box":{"x":62,"y":828,"width":523,"height":11}},{"id":"26a6f20b-37f3-4996-8de9-3d92255caf9d","block_type":"box","text":"Investment Strategy and Asset Selection:","page_number":48,"box":{"x":62,"y":848,"width":328,"height":11}},{"id":"dcd48e7b-fa97-44bd-ba51-d7e83f52f1dd","block_type":"box","text":"The Sub-Fund is actively managed, selecting investments aligned to the Sub-Fund’s growth aims and in-line with the","page_number":48,"box":{"x":62,"y":867,"width":861,"height":11}},{"id":"ad1dd54c-cf49-44c8-9825-e73d5218a080","block_type":"box","text":"Sub-Fund’s Sustainability Strategy (see below). The Investment Manager aims through the responsible allocation of","page_number":48,"box":{"x":62,"y":881,"width":861,"height":11}},{"id":"6a7af483-1553-49e9-9d2b-0a80542b5da0","block_type":"box","text":"capital (stewardship) to encourage companies to improve environmental and/or social outcomes through their","page_number":48,"box":{"x":62,"y":894,"width":861,"height":12}},{"id":"609bffaa-2a52-40b7-8c6f-759b861469c5","block_type":"box","text":"products and services, and/or through their operations.","page_number":48,"box":{"x":62,"y":908,"width":405,"height":11}},{"id":"2f01fbb5-9290-444a-89e3-eb8e11557737","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":49,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"1753b823-df1d-4ef0-9182-67f6fe88cfe0","block_type":"box","text":"49","page_number":49,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"c7b71c6a-864e-4688-97f2-75000fbc4cf0","block_type":"box","text":"Aviva Investors: Confidential","page_number":49,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"62472ec4-2c9f-42e2-8a7d-ab68efdb3868","block_type":"box","text":"The Investment Manager has the discretion to build a diverse portfolio of companies of any size, at any stage of the","page_number":49,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"e38dfd14-a37d-4819-888b-17cb470779aa","block_type":"box","text":"business cycle and across different industry sectors with an emphasis on risk management within the Sub-Fund.","page_number":49,"box":{"x":62,"y":66,"width":832,"height":11}},{"id":"4136625f-f67c-41e4-b4ea-dc2581280c1a","block_type":"box","text":"Once any excluded companies have been removed from the available investment universe (see above), the Sub","page_number":49,"box":{"x":62,"y":86,"width":860,"height":11}},{"id":"fb4d129a-608b-45fc-aa4f-48ef8e4d1b96","block_type":"box","text":"Fund must invest in its minimum stewardship allocation. To be eligible for investment, the company must meet the","page_number":49,"box":{"x":63,"y":99,"width":860,"height":12}},{"id":"05a20ee1-8d27-4cf8-8e39-42906dd31c8a","block_type":"box","text":"Fund’s qualifying criteria through either the company’s:","page_number":49,"box":{"x":63,"y":113,"width":404,"height":11}},{"id":"95bc6384-01b1-49d9-97d1-b3e5ee076842","block_type":"box","text":"","page_number":49,"box":{"x":92,"y":137,"width":6,"height":4}},{"id":"a21df4a1-399a-4c9c-b583-8b32d389c046","block_type":"box","text":"Products and Services -","page_number":49,"box":{"x":110,"y":133,"width":190,"height":9}},{"id":"8b2310d4-4e1c-4f97-9a89-dfea849bf40f","block_type":"box","text":"consideration will be given to the revenue a company generates from products and","page_number":49,"box":{"x":306,"y":134,"width":612,"height":11}},{"id":"381b7e3f-745d-4c60-84cf-3e86dd087b1e","block_type":"box","text":"services that are linked to investment themes that fall under one or more of the three pillars.","page_number":49,"box":{"x":122,"y":147,"width":679,"height":11}},{"id":"01bdf7e1-a9b4-48aa-9829-560c02a11be9","block_type":"box","text":"","page_number":49,"box":{"x":92,"y":190,"width":6,"height":5}},{"id":"c276f910-1e31-48dd-b8d0-7aaa69d3ed6c","block_type":"box","text":"Operations –","page_number":49,"box":{"x":110,"y":187,"width":101,"height":11}},{"id":"14f5923f-d7d1-4389-bfef-a28132c07768","block_type":"box","text":"consideration is given to the sustainability practices of a company’s operations. The Investment","page_number":49,"box":{"x":217,"y":187,"width":706,"height":11}},{"id":"62070b4d-1298-40b0-a5ab-1e4845836079","block_type":"box","text":"Manager may look at a range of factors to assess a company’s operations against investment themes","page_number":49,"box":{"x":123,"y":201,"width":752,"height":11}},{"id":"ff3858eb-d65f-4791-b58e-40d0fae8bdbb","block_type":"box","text":"linked to the three pillars, including (for example) its governance commitments, policies and actions to","page_number":49,"box":{"x":123,"y":214,"width":753,"height":12}},{"id":"94a29fb6-b0a8-4d39-b609-56f2d8d2915e","block_type":"box","text":"manage social and environmental issues, and performance compared to peers.","page_number":49,"box":{"x":123,"y":228,"width":586,"height":11}},{"id":"97cf312f-7917-42ae-b48d-71c1c3ef2d63","block_type":"box","text":"See “Sustainability Strategy” below for how the minimum stewardship allocation is achieved","page_number":49,"box":{"x":62,"y":249,"width":739,"height":11}},{"id":"bdfa3bc2-3f27-4548-88c7-47e5a8f9048c","block_type":"box","text":".","page_number":49,"box":{"x":803,"y":256,"width":2,"height":1}},{"id":"e8254bd6-e983-4391-9548-ab6c045321de","block_type":"box","text":"Outside of its minimum stewardship allocation, up to 15% of the portfolio may be in investments that do not meet","page_number":49,"box":{"x":62,"y":270,"width":844,"height":11}},{"id":"800c5762-b76e-4e3a-afde-d8020aadd71f","block_type":"box","text":"the standards required by the Investment Manager’s investment framework; the Investment Manager refers to these","page_number":49,"box":{"x":62,"y":283,"width":843,"height":12}},{"id":"a5037fe8-55b2-4c38-8920-2fca1d2f1868","block_type":"box","text":"as “neutral” assets. Neutral assets include investments where the Investment Manager has otherwise determined","page_number":49,"box":{"x":62,"y":297,"width":843,"height":11}},{"id":"8e30987d-7880-4373-92c2-cba3f9219087","block_type":"box","text":"that the issuing company has an overall neutral alignment to the three pillars (see “Sustainability Strategy” below),","page_number":49,"box":{"x":62,"y":311,"width":842,"height":11}},{"id":"0194dee9-fb3a-4265-93b1-2e334af9880a","block_type":"box","text":"the nature of the asset is such that the sustainability characteristics of the asset are not possible to assess (for","page_number":49,"box":{"x":62,"y":324,"width":844,"height":11}},{"id":"20a7e096-2ea8-4bca-b3df-b466a7898290","block_type":"box","text":"example, cash, third-party funds and derivatives) or where there is not sufficient sustainability data available to","page_number":49,"box":{"x":62,"y":338,"width":843,"height":11}},{"id":"26f1909f-180e-4a1b-875a-95f03dea4d7a","block_type":"box","text":"determine if that investment meets the Investment Manager’s criteria. The Sub-Fund may hold such neutral assets","page_number":49,"box":{"x":62,"y":351,"width":843,"height":12}},{"id":"0640c36a-3322-4d47-839c-f4f381f73a3f","block_type":"box","text":"in order to support the financial objectives of the Sub-Fund, for liquidity purposes and for efficient portfolio","page_number":49,"box":{"x":62,"y":365,"width":844,"height":11}},{"id":"87de9f42-4d1d-4c23-b4a1-716ef08297e0","block_type":"box","text":"management purposes.","page_number":49,"box":{"x":62,"y":380,"width":174,"height":10}},{"id":"4e3507c4-befc-4476-9670-484b4b0fc37a","block_type":"box","text":"The Sub-Fund’s minimum stewardship allocation will be reviewed on an ongoing basis against a range of key","page_number":49,"box":{"x":62,"y":398,"width":861,"height":12}},{"id":"c51afce2-2dc4-46f7-8f5b-0331b45f1d7f","block_type":"box","text":"performance indicators (KPIs) to ensure that they remain compliant with the Investment Manager’s investment","page_number":49,"box":{"x":62,"y":412,"width":861,"height":11}},{"id":"9a0d1ebf-e58f-4608-b503-1c1510409c36","block_type":"box","text":"framework – please see “Sustainability Strategy” below for further information.","page_number":49,"box":{"x":62,"y":426,"width":576,"height":11}},{"id":"c9f67fb7-9c97-4377-8c83-2a36d60bd2e0","block_type":"box","text":"Performance & Risk Strategy:","page_number":49,"box":{"x":63,"y":445,"width":234,"height":12}},{"id":"7f6ac506-5ec6-4c3b-9e7c-47b630b6a795","block_type":"box","text":"The Sub-Fund’s performance is measured against the FTSE® All-Share Custom Index (the “","page_number":49,"box":{"x":62,"y":465,"width":709,"height":11}},{"id":"862d3aa2-10c4-4545-a259-30283f4d210d","block_type":"box","text":"Custom Index","page_number":49,"box":{"x":773,"y":465,"width":112,"height":9}},{"id":"5ebb5489-8210-4adc-b1d2-d13f93e20d4d","block_type":"box","text":"”),","page_number":49,"box":{"x":885,"y":465,"width":14,"height":11}},{"id":"be8a858b-03f0-4743-a031-584462119e7b","block_type":"box","text":"□","page_number":49,"box":{"x":902,"y":466,"width":5,"height":4}},{"id":"b0a04105-6e69-418a-9106-e3d8dfc7c045","block_type":"box","text":"a","page_number":49,"box":{"x":915,"y":467,"width":8,"height":7}},{"id":"0c6970dd-cc90-4e33-a776-3dfab292c370","block_type":"box","text":"customised version of the FTSE® All-Share Index (the “","page_number":49,"box":{"x":62,"y":479,"width":413,"height":11}},{"id":"85965440-b8e6-4eb0-9b1f-47ca9d95062c","block_type":"box","text":"Index","page_number":49,"box":{"x":477,"y":479,"width":42,"height":9}},{"id":"79e48753-1b7d-41fc-9db6-78c2eae77c08","block_type":"box","text":"”), that applies the same negative screening criteria as","page_number":49,"box":{"x":520,"y":479,"width":403,"height":11}},{"id":"745e38f7-c692-40c8-ad7f-d0322b21eaee","block_type":"box","text":"the Sub-Fund. The Sub-Fund’s performance is also compared to the Index","page_number":49,"box":{"x":62,"y":492,"width":553,"height":11}},{"id":"f07ce402-8ce7-4a18-bfdb-d0469cbce7b5","block_type":"box","text":"□","page_number":49,"box":{"x":616,"y":494,"width":5,"height":3}},{"id":"336411a5-f513-4529-b7e3-662cc6a67725","block_type":"box","text":".","page_number":49,"box":{"x":623,"y":500,"width":2,"height":1}},{"id":"2205b8dd-5bb0-47cc-95aa-f87e2bae6e9b","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index (applying specific exclusions, and the minimum","page_number":49,"box":{"x":62,"y":512,"width":860,"height":11}},{"id":"43e389db-15a4-45d3-ac28-28e75d9abd29","block_type":"box","text":"stewardship allocation requirement, that do not apply to the Index) or the Custom Index. Therefore, the Sub-Fund will","page_number":49,"box":{"x":62,"y":526,"width":860,"height":11}},{"id":"cdda6be7-c0e2-4581-9b3a-30de40e3dc63","block_type":"box","text":"not hold every company in either the Index or the Custom Index and may also hold companies that do not form part","page_number":49,"box":{"x":62,"y":539,"width":861,"height":11}},{"id":"2173d09e-d6d7-47b5-915f-0f14ff015f23","block_type":"box","text":"of them.","page_number":49,"box":{"x":62,"y":553,"width":58,"height":9}},{"id":"e758f096-0fe9-4064-8b8a-68e21f20b393","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":49,"box":{"x":62,"y":572,"width":861,"height":12}},{"id":"180be085-5e0b-4190-b640-003ba4acea7a","block_type":"box","text":"Custom Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the","page_number":49,"box":{"x":62,"y":586,"width":861,"height":11}},{"id":"23c86bd2-61ba-4fb9-8c80-64937a5c263a","block_type":"box","text":"Custom Index, and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2%","page_number":49,"box":{"x":62,"y":600,"width":860,"height":11}},{"id":"8b448f15-4df8-4c39-ad03-0936400a154f","block_type":"box","text":"and 6% when compared to the Custom Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":49,"box":{"x":62,"y":613,"width":820,"height":12}},{"id":"b0f3ff57-6f05-4d90-8d53-81d47ebeda84","block_type":"box","text":"The Index represents the performance of all eligible companies listed on the London Stock Exchange, and 98% of","page_number":49,"box":{"x":62,"y":633,"width":861,"height":11}},{"id":"c83b407a-23e7-47db-a913-2a15199f488e","block_type":"box","text":"the UK’s market capitalisation (total market value of a company’s outstanding shares).","page_number":49,"box":{"x":62,"y":647,"width":637,"height":11}},{"id":"2c9c9d58-538b-4059-8fc1-021433357858","block_type":"box","text":"The Index has been selected as a comparator benchmark for performance because it is representative of the UK","page_number":49,"box":{"x":62,"y":666,"width":861,"height":11}},{"id":"e0442aef-189d-442f-95ac-faf04d0e278d","block_type":"box","text":"equity market and the type of companies in which the Sub-Fund is likely to invest, although investors should be aware","page_number":49,"box":{"x":62,"y":680,"width":861,"height":11}},{"id":"d6437e03-4012-4c84-8080-d2e0f48a3b2e","block_type":"box","text":"that due to the Sub-Fund’s specific exclusions the Index will contain more companies than those available for","page_number":49,"box":{"x":62,"y":694,"width":861,"height":11}},{"id":"63fd7ae9-5b10-440a-9ff7-53f227d3813b","block_type":"box","text":"investment by the Sub-Fund. The Custom Index has therefore been selected as the measure for the Sub-Fund’s","page_number":49,"box":{"x":62,"y":707,"width":861,"height":11}},{"id":"3057f2f9-cfd9-4d63-a5c6-40b5721b3140","block_type":"box","text":"overall performance and for risk measurement as it excludes companies from the Index in line with the Sub-Fund’s","page_number":49,"box":{"x":62,"y":721,"width":860,"height":11}},{"id":"50b3600b-add2-489b-8a5d-60cffcf80369","block_type":"box","text":"negative screening criteria and therefore reflects the companies available to be selected by the Sub-Fund. The Index","page_number":49,"box":{"x":62,"y":734,"width":861,"height":12}},{"id":"d42a9d08-4579-4379-afc3-cd86ad9ab3d4","block_type":"box","text":"and the Custom Index are considered an appropriate comparator and measure respectively for the Sub-Fund’s","page_number":49,"box":{"x":62,"y":748,"width":861,"height":11}},{"id":"0b79e5e7-31c7-4a0b-81df-7f29e23456de","block_type":"box","text":"performance. The Index provides an indication of the performance of UK equities, helping investors to understand the","page_number":49,"box":{"x":62,"y":762,"width":861,"height":11}},{"id":"3cf7d334-cc8f-4164-8f7a-28d8a452ef4d","block_type":"box","text":"impact on performance of applying the stewardship exclusions. The Custom Index shows the performance of UK","page_number":49,"box":{"x":62,"y":775,"width":861,"height":12}},{"id":"6c36462a-c13b-4bcc-8e79-225a56698804","block_type":"box","text":"equities with the additional exclusions applied by the Sub-Fund, helping investors to understand the impact on","page_number":49,"box":{"x":62,"y":789,"width":860,"height":11}},{"id":"6a6ae3a7-ac32-40e2-a612-db5929d5a69a","block_type":"box","text":"performance of the investment strategy and stock selection processes employed by the Investment Manager.","page_number":49,"box":{"x":62,"y":803,"width":808,"height":11}},{"id":"8fc3c9c2-0cbf-41ba-9d84-63147ecdcbfd","block_type":"box","text":"The Sub-Fund’s Sustainability Strategy","page_number":49,"box":{"x":62,"y":842,"width":312,"height":11}},{"id":"c2ec0e2a-264c-49f6-b3a8-705239006e6a","block_type":"box","text":"The Investment Manager’s investment framework requires an asset to contribute to one of three pillars, being Climate,","page_number":49,"box":{"x":62,"y":862,"width":860,"height":11}},{"id":"0a37deb2-4ab9-4d3a-8db3-a25633c4eee6","block_type":"box","text":"Earth and People. These pillars have been developed to encapsulate the aims of the United Nations’ Sustainable","page_number":49,"box":{"x":63,"y":875,"width":860,"height":11}},{"id":"2b144f16-3018-420b-b2b3-23c50e376eea","block_type":"box","text":"Development Goals (","page_number":49,"box":{"x":63,"y":889,"width":166,"height":11}},{"id":"bfbe6f2c-4c4a-4e97-848d-358815f1323c","block_type":"box","text":"SDGs","page_number":49,"box":{"x":231,"y":889,"width":44,"height":9}},{"id":"119e0702-2349-407b-93fe-3406b0f2011c","block_type":"box","text":"), which the Investment Manager believes provide a global consensus on major","page_number":49,"box":{"x":276,"y":889,"width":647,"height":11}},{"id":"52b1295e-53c0-4b41-b752-82500a4caf76","block_type":"box","text":"developmental challenges facing the world and on what activities or behaviours can (or can’t) be categorised as","page_number":49,"box":{"x":62,"y":903,"width":860,"height":11}},{"id":"8f9b5fb8-6f9e-40ea-9801-4bbcde2bce7f","block_type":"box","text":"“sustainable”.","page_number":49,"box":{"x":62,"y":916,"width":99,"height":9}},{"id":"b504ac67-7bb6-40cc-9f65-43023a7367c2","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":50,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"951f5e41-2dc9-4714-bc79-609fa20ef5da","block_type":"box","text":"50","page_number":50,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"96363770-eb27-4979-aca4-cbf0ef7bae75","block_type":"box","text":"Aviva Investors: Confidential","page_number":50,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d651480d-11d5-4e0e-a113-0475132076f4","block_type":"box","text":"Following the exclusion of companies by the stewardship exclusions (as described above), to determine if an asset","page_number":50,"box":{"x":63,"y":72,"width":860,"height":11}},{"id":"56b0fe35-2d4f-498b-afac-23115507909b","block_type":"box","text":"is eligible for the Sub-Fund’s minimum stewardship allocation, the Investment Manager conducts a “deep dive","page_number":50,"box":{"x":62,"y":86,"width":861,"height":11}},{"id":"69749445-1326-44f6-bb79-ca45ad4160ce","block_type":"box","text":"assessment” to see if the issuer meets the Sub-Fund’s qualifying criteria through either the issuer’s:","page_number":50,"box":{"x":62,"y":99,"width":736,"height":12}},{"id":"50aa7bca-54f8-4bf3-bff8-54b5891e409c","block_type":"box","text":"","page_number":50,"box":{"x":92,"y":143,"width":6,"height":4}},{"id":"28ac9fea-19c6-4780-9884-c95f8de934b1","block_type":"box","text":"Products and Services,","page_number":50,"box":{"x":110,"y":139,"width":188,"height":11}},{"id":"eb7d2545-6be1-489c-bbbc-6f025dee14c9","block_type":"box","text":"looking at the revenues that companies generate through products and services,","page_number":50,"box":{"x":307,"y":140,"width":615,"height":11}},{"id":"7a97cc67-d44b-4a63-bef0-0224770ac0f9","block_type":"box","text":"consideration will be given to the revenue a company generates from products and services in business","page_number":50,"box":{"x":123,"y":153,"width":800,"height":11}},{"id":"a0dba5cc-c355-4337-9288-3cb12e03dbf0","block_type":"box","text":"segments that are linked to investment themes that fall under one or more of the three pillars.","page_number":50,"box":{"x":122,"y":167,"width":690,"height":11}},{"id":"494d04dc-3a10-4202-9acb-a26165977154","block_type":"box","text":"","page_number":50,"box":{"x":92,"y":190,"width":6,"height":5}},{"id":"01fa2f12-6cf2-4148-93b6-c07c993b6136","block_type":"box","text":"Operations,","page_number":50,"box":{"x":110,"y":187,"width":91,"height":11}},{"id":"b11fd964-1dfa-4ae9-898e-7d5a657e8197","block_type":"box","text":"considering the sustainability practices of a company’s operations, the Investment Manager may","page_number":50,"box":{"x":208,"y":187,"width":715,"height":11}},{"id":"5c85f995-c6e9-43d5-9729-93300f178531","block_type":"box","text":"look at a range of factors to assess a company’s operations against the investment themes linked to the three","page_number":50,"box":{"x":123,"y":201,"width":800,"height":11}},{"id":"adcff396-7cc1-40d0-9a34-5fbee5a75c59","block_type":"box","text":"pillars, including (for example) its governance commitments, policies and actions to manage social and","page_number":50,"box":{"x":123,"y":214,"width":799,"height":12}},{"id":"16bbd671-1858-4b7a-b7fa-4a648b84edcc","block_type":"box","text":"environmental issues, and performance compared to peers.","page_number":50,"box":{"x":123,"y":228,"width":441,"height":11}},{"id":"5a9c473a-8bec-4d41-b485-10144c651db1","block_type":"box","text":"Assets may qualify for investment where the issuer, either through their products and services or through their","page_number":50,"box":{"x":62,"y":267,"width":861,"height":11}},{"id":"a9371b21-f70a-4aeb-b6fe-6149eda622a1","block_type":"box","text":"operations, is aligned to investment themes tied to one of the three pillars of Climate, Earth or People, and","page_number":50,"box":{"x":62,"y":281,"width":860,"height":11}},{"id":"9321798e-2579-4d58-a020-023eb78d7525","block_type":"box","text":"consequently to the associated UN SDGs:","page_number":50,"box":{"x":62,"y":294,"width":312,"height":12}},{"id":"b4209373-b6ff-4407-81e1-b07df53e8e65","block_type":"box","text":"Products and Services","page_number":50,"box":{"x":63,"y":334,"width":166,"height":9}},{"id":"10f083e3-f146-4a0a-b943-39b724359f64","block_type":"box","text":"Pillar","page_number":50,"box":{"x":64,"y":356,"width":37,"height":8}},{"id":"7cdeb285-9a0f-4984-8802-f36b979166f4","block_type":"box","text":"Investment themes","page_number":50,"box":{"x":122,"y":356,"width":137,"height":8}},{"id":"a7d3ffc4-a8c0-4c40-bfcb-d7886d197246","block_type":"box","text":"Theme relevance","page_number":50,"box":{"x":298,"y":356,"width":122,"height":8}},{"id":"5e99edf8-abaa-4756-88a0-70c9d160cbed","block_type":"box","text":"Relevant SDG","page_number":50,"box":{"x":671,"y":356,"width":99,"height":8}},{"id":"d121b471-0e98-4c41-9219-a64ca0ae3d0b","block_type":"box","text":"*","page_number":50,"box":{"x":771,"y":355,"width":3,"height":2}},{"id":"57edae24-1c96-4273-a6fc-734cf34c72ae","block_type":"box","text":"Climate","page_number":50,"box":{"x":63,"y":515,"width":54,"height":8}},{"id":"92e909e5-d2e5-44bb-b695-9ef23e3529ec","block_type":"box","text":"Sustainable/Alternative","page_number":50,"box":{"x":122,"y":372,"width":166,"height":8}},{"id":"235f3c31-a8e3-4512-a1f9-81f4e7b2f88e","block_type":"box","text":"energy","page_number":50,"box":{"x":122,"y":386,"width":49,"height":8}},{"id":"256af2d7-5831-4ebf-9dd4-b114ce3848b7","block_type":"box","text":"Sustainable energy and electrification are key","page_number":50,"box":{"x":297,"y":372,"width":371,"height":10}},{"id":"7c60ccd2-3b61-44ab-b3f7-ccb7270b99c8","block_type":"box","text":"components of SDG 7, which aims to ensure access to","page_number":50,"box":{"x":297,"y":384,"width":371,"height":10}},{"id":"e2960e0b-6708-436c-b1e9-576b74b398fe","block_type":"box","text":"affordable, reliable, sustainable, and modern energy for","page_number":50,"box":{"x":297,"y":396,"width":371,"height":10}},{"id":"add4441b-41ae-427b-bd9b-75a54e3ae2eb","block_type":"box","text":"all.","page_number":50,"box":{"x":297,"y":409,"width":17,"height":8}},{"id":"b185f71d-d105-44a3-b6dc-d87ad60e44e3","block_type":"box","text":"7 –","page_number":50,"box":{"x":670,"y":372,"width":26,"height":8}},{"id":"6abd508d-7311-43b6-a745-be32a747534b","block_type":"box","text":"Affordable and","page_number":50,"box":{"x":706,"y":372,"width":112,"height":8}},{"id":"4d542f1e-8590-4f59-936d-f27025369343","block_type":"box","text":"Clean Energy","page_number":50,"box":{"x":670,"y":384,"width":96,"height":10}},{"id":"5a715316-599f-49a4-9f76-8f3f9978750e","block_type":"box","text":"Electrification","page_number":50,"box":{"x":123,"y":397,"width":98,"height":8}},{"id":"8106e830-68a7-47dc-a4ea-9c2447fbbdd5","block_type":"box","text":"Sustainable Buildings","page_number":50,"box":{"x":122,"y":422,"width":172,"height":10}},{"id":"d0f5613f-fc8c-4230-9c48-05bd64e894d6","block_type":"box","text":"and Infrastructure","page_number":50,"box":{"x":122,"y":434,"width":129,"height":8}},{"id":"6d99d9f1-5db5-46c4-a019-5e877fd59a7e","block_type":"box","text":"Sustainable building, as part of the broader Sustainable","page_number":50,"box":{"x":297,"y":422,"width":371,"height":10}},{"id":"0bf67f9a-4d6c-4c0d-bd8b-67555c42c889","block_type":"box","text":"Urbanisation, is a crucial aspect of achieving several","page_number":50,"box":{"x":297,"y":434,"width":370,"height":10}},{"id":"31a3e8a3-d7c7-47a2-927c-bc3def637d2c","block_type":"box","text":"SDGs, but particularly SDGs 9 and 11, which focus on","page_number":50,"box":{"x":297,"y":446,"width":370,"height":11}},{"id":"50082d5d-ea12-4565-8bec-d33a7bdbec21","block_type":"box","text":"making cities and human settlements inclusive, safe,","page_number":50,"box":{"x":297,"y":459,"width":370,"height":10}},{"id":"7419abaa-3a2b-446f-bdb7-13b564ec13ac","block_type":"box","text":"resilient, and sustainable.","page_number":50,"box":{"x":297,"y":471,"width":168,"height":9}},{"id":"3f15bc8d-6daa-4805-bc43-38f78f69ff16","block_type":"box","text":"9 –","page_number":50,"box":{"x":670,"y":422,"width":50,"height":8}},{"id":"cc221fa4-817c-4f99-8520-315c1090d64d","block_type":"box","text":"Industry,","page_number":50,"box":{"x":755,"y":422,"width":63,"height":10}},{"id":"5dc6d6ce-2b16-49a8-947e-a2224748b860","block_type":"box","text":"Innovation and","page_number":50,"box":{"x":670,"y":434,"width":148,"height":8}},{"id":"1cf40e34-de65-4f38-99cd-28da10ae676c","block_type":"box","text":"infrastructure","page_number":50,"box":{"x":670,"y":447,"width":98,"height":7}},{"id":"10f1ad08-f3ed-4c2c-9fc3-80ccd9be53be","block_type":"box","text":"11 –","page_number":50,"box":{"x":670,"y":471,"width":44,"height":8}},{"id":"67e4b70a-72e8-4989-9981-52c2c272dc05","block_type":"box","text":"Sustainable","page_number":50,"box":{"x":734,"y":471,"width":84,"height":8}},{"id":"4d1371e9-242d-4771-bc5c-2a78b812664e","block_type":"box","text":"Cities and","page_number":50,"box":{"x":670,"y":483,"width":148,"height":8}},{"id":"e44092bf-372b-4b82-a150-4d9ba62f5b58","block_type":"box","text":"Communities","page_number":50,"box":{"x":670,"y":496,"width":95,"height":8}},{"id":"87fb24f9-9000-43e2-97a2-7379b052375b","block_type":"box","text":"Sustainable transport","page_number":50,"box":{"x":122,"y":484,"width":155,"height":10}},{"id":"e4372e17-db95-443c-8a3e-0a2843bbb8ac","block_type":"box","text":"Sustainable transport aims to provide universal access,","page_number":50,"box":{"x":297,"y":484,"width":370,"height":10}},{"id":"946a4956-72fa-4a17-a1fd-4aaa0dd61bfe","block_type":"box","text":"enhance safety, reduce environmental impact, improve","page_number":50,"box":{"x":297,"y":497,"width":371,"height":10}},{"id":"6d281fb8-20d3-432f-9d0e-deaf2d91a117","block_type":"box","text":"resilience, and increase efficiency. It is integrated across","page_number":50,"box":{"x":297,"y":509,"width":371,"height":10}},{"id":"7e727055-0b20-499a-8986-17602ea07682","block_type":"box","text":"several goals and targets but has been captured in the","page_number":50,"box":{"x":297,"y":521,"width":371,"height":10}},{"id":"6250c9a2-2848-4bd7-8ad5-0b3afe4301ad","block_type":"box","text":"Climate pillar due to its impor","page_number":50,"box":{"x":297,"y":533,"width":195,"height":10}},{"id":"9a373f63-90d9-4d9a-b13d-d33e138deaa8","block_type":"box","text":"tance in decarbonising the","page_number":50,"box":{"x":492,"y":534,"width":176,"height":10}},{"id":"35f8a051-8e1c-402e-9757-3e5712a5ab2f","block_type":"box","text":"economy.","page_number":50,"box":{"x":297,"y":548,"width":63,"height":8}},{"id":"d0de6198-1c4d-4fdb-a436-8759125c26fc","block_type":"box","text":"Sustainable tourism","page_number":50,"box":{"x":122,"y":559,"width":143,"height":8}},{"id":"cc6ed120-29d7-4b1d-9f4e-9a9c93ec6b11","block_type":"box","text":"Sustainable tourism is specifically highlighted in several","page_number":50,"box":{"x":297,"y":559,"width":370,"height":10}},{"id":"57a5a395-b890-4ba5-9ff9-b6e2527d081e","block_type":"box","text":"goals as sustainable tourism seeks to balance the needs","page_number":50,"box":{"x":297,"y":571,"width":371,"height":10}},{"id":"fe842bd4-96bb-4618-bd5c-b00e8d8f3a92","block_type":"box","text":"of visitors, the industry, the environment, and host","page_number":50,"box":{"x":297,"y":583,"width":371,"height":11}},{"id":"7c9fe65d-2e25-470f-ad8b-56cc88527095","block_type":"box","text":"communities.","page_number":50,"box":{"x":297,"y":596,"width":87,"height":8}},{"id":"c0c793f9-5218-4118-b8ae-687993d606e6","block_type":"box","text":"As the investment theme is specifically","page_number":50,"box":{"x":394,"y":596,"width":274,"height":10}},{"id":"3801f7d4-814e-4bbc-ac5e-15f997cedd7b","block_type":"box","text":"focussed on reducing the impact on","page_number":50,"box":{"x":296,"y":608,"width":248,"height":10}},{"id":"2c80013c-1f28-4e98-a91b-458d918ef107","block_type":"box","text":"climate change it","page_number":50,"box":{"x":551,"y":608,"width":117,"height":10}},{"id":"bc901590-8e97-4833-831a-42b5b19e901d","block_type":"box","text":"has been captured in the Climate pillar.","page_number":50,"box":{"x":297,"y":620,"width":260,"height":10}},{"id":"3b9debd4-a78e-4f3a-89b6-a5ff2ec511bb","block_type":"box","text":"Disaster risk reduction","page_number":50,"box":{"x":123,"y":634,"width":171,"height":7}},{"id":"a65e66fd-13fd-48ac-a5dd-351e1a9261ee","block_type":"box","text":"and resilience","page_number":50,"box":{"x":122,"y":646,"width":100,"height":8}},{"id":"99ed121a-4432-4493-b294-928709fb46e2","block_type":"box","text":"Disaster risk reduction (DRR) is integrated across","page_number":50,"box":{"x":297,"y":633,"width":371,"height":11}},{"id":"82283760-d1cf-46b5-ade1-59e8d4c76bc2","block_type":"box","text":"multiple goals and targets. As the impacts of climate","page_number":50,"box":{"x":297,"y":646,"width":371,"height":10}},{"id":"fa8a3db5-d44c-4154-9e13-cc9cb1229058","block_type":"box","text":"change significantly increase the need for resilience,","page_number":50,"box":{"x":297,"y":658,"width":370,"height":10}},{"id":"33428c92-d70a-4c5b-a24a-05f5afca9a15","block_type":"box","text":"DRR has been captured in the Climate pillar.","page_number":50,"box":{"x":297,"y":670,"width":297,"height":10}},{"id":"9e3e5d19-07f4-4833-96ab-97e15f80037a","block_type":"box","text":"Earth","page_number":50,"box":{"x":64,"y":726,"width":36,"height":8}},{"id":"f7befa90-0c3f-4900-8b3c-c7e3a3635bb7","block_type":"box","text":"Sustainable water","page_number":50,"box":{"x":122,"y":683,"width":173,"height":8}},{"id":"3375efc6-5117-4234-9a43-34f96022e9e0","block_type":"box","text":"services","page_number":50,"box":{"x":122,"y":696,"width":60,"height":8}},{"id":"0b1d1d69-88f0-400d-9157-3481341b3a86","block_type":"box","text":"Water services and sanitation are a critical focus of the","page_number":50,"box":{"x":296,"y":684,"width":372,"height":7}},{"id":"72eef982-93a6-4799-bdc0-d3cca54e247a","block_type":"box","text":"SDGs, particularly under SDG 6. This goal aims to","page_number":50,"box":{"x":297,"y":696,"width":371,"height":10}},{"id":"2a5a1305-bfbc-45f8-87c1-123ba6a98475","block_type":"box","text":"ensure availability and sustainable management of","page_number":50,"box":{"x":297,"y":708,"width":371,"height":10}},{"id":"cc9299a0-2707-4458-940f-fea3f7e88390","block_type":"box","text":"water and sanitation for all by 2030.","page_number":50,"box":{"x":296,"y":720,"width":238,"height":10}},{"id":"09bb3745-59a7-4a57-896e-1434e8bedda8","block_type":"box","text":"6 –","page_number":50,"box":{"x":670,"y":684,"width":22,"height":7}},{"id":"e440a42b-10cc-4569-b975-479c109b56e2","block_type":"box","text":"Clean Water and","page_number":50,"box":{"x":698,"y":683,"width":120,"height":8}},{"id":"4b11edc5-4208-4f8b-9d77-77118b30e497","block_type":"box","text":"Sanitation","page_number":50,"box":{"x":670,"y":696,"width":72,"height":8}},{"id":"70ec30d0-4b12-4c40-b239-f4dacaec6757","block_type":"box","text":"Sanitation","page_number":50,"box":{"x":122,"y":709,"width":72,"height":8}},{"id":"3589e942-0876-455d-a275-714ec527a11f","block_type":"box","text":"Circular economy and","page_number":50,"box":{"x":122,"y":733,"width":172,"height":11}},{"id":"524b3026-d66b-429c-a956-b008f54b0b11","block_type":"box","text":"waste management","page_number":50,"box":{"x":122,"y":746,"width":139,"height":10}},{"id":"e67860d5-421f-4f8a-b6a8-476deeb8a8b4","block_type":"box","text":"Circular economy and waste management are integral","page_number":50,"box":{"x":297,"y":733,"width":370,"height":11}},{"id":"43b31653-f8f6-4543-b555-a56c8049bede","block_type":"box","text":"to achieving several of the SDGs, but is most pertinent","page_number":50,"box":{"x":296,"y":746,"width":372,"height":10}},{"id":"a6c9b7b5-1d80-405b-a4ab-59805f10450d","block_type":"box","text":"to SDG 12, where integrating circular economy","page_number":50,"box":{"x":296,"y":758,"width":372,"height":10}},{"id":"6d4b00dc-d08d-4139-a4b6-255141c60deb","block_type":"box","text":"12 –","page_number":50,"box":{"x":670,"y":734,"width":42,"height":7}},{"id":"b1a46169-33ac-4254-a187-9c16aa39e70a","block_type":"box","text":"Responsible","page_number":50,"box":{"x":730,"y":734,"width":88,"height":10}},{"id":"f89e468d-95e2-40f5-81a8-87aa7bc3a859","block_type":"box","text":"Consumption and","page_number":50,"box":{"x":670,"y":746,"width":148,"height":10}},{"id":"65f83e33-9bb1-483f-bdb7-bda566f3e021","block_type":"box","text":"Production","page_number":50,"box":{"x":671,"y":758,"width":77,"height":8}},{"id":"db62abd5-855f-4c68-aab6-616144d26547","block_type":"box","text":"*","page_number":50,"box":{"x":62,"y":917,"width":3,"height":2}},{"id":"fb69fc05-a5ed-4a7d-b9f6-2d3860a27434","block_type":"box","text":"https://sdgs.un.org/sustainabledevelopment","page_number":50,"box":{"x":70,"y":916,"width":290,"height":10}},{"id":"222af372-5c77-4843-80a7-7a1aab81eadf","block_type":"box","text":". The content of this publication has not been approved by the United Nations and does not reflect the","page_number":50,"box":{"x":362,"y":918,"width":561,"height":8}},{"id":"81c1caee-51d2-4556-888c-0e3c5fc90215","block_type":"box","text":"views of the United Nations or its officials or Member States.","page_number":50,"box":{"x":74,"y":929,"width":331,"height":7}},{"id":"8c9be145-05e4-49a4-a951-e22882486542","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":51,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"7366a3ec-f941-4f20-9e8c-b2f3c17405a7","block_type":"box","text":"51","page_number":51,"box":{"x":787,"y":940,"width":10,"height":6}},{"id":"7357dfb9-cb49-4b1a-b5ef-47d0bec61a80","block_type":"box","text":"Aviva Investors: Confidential","page_number":51,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"e4dcced4-a8bc-4c5e-85fd-72f542a37682","block_type":"box","text":"principles into product management can significantly","page_number":51,"box":{"x":297,"y":53,"width":371,"height":10}},{"id":"9ea7ee07-2823-4554-a7dd-5dbce0ac665f","block_type":"box","text":"enhance sustainability efforts.","page_number":51,"box":{"x":297,"y":65,"width":197,"height":10}},{"id":"3c436723-bb2f-4a73-bee7-5193d490bf14","block_type":"box","text":"Recycling solutions","page_number":51,"box":{"x":123,"y":102,"width":141,"height":10}},{"id":"915147dd-16bb-48d4-92a8-46311102b6ad","block_type":"box","text":"Recycling is a key component of SDG 12 which aims to","page_number":51,"box":{"x":297,"y":102,"width":371,"height":10}},{"id":"61db1cf7-74c5-40ee-a74b-edb59039fe25","block_type":"box","text":"ensure sustainable consumption and production","page_number":51,"box":{"x":297,"y":114,"width":370,"height":10}},{"id":"1ae100f6-1ff0-406d-8b7f-eb815ff254aa","block_type":"box","text":"patterns.","page_number":51,"box":{"x":297,"y":127,"width":57,"height":9}},{"id":"df1a6e38-c74a-4d5c-acbb-6db04582ce76","block_type":"box","text":"Sustainable","page_number":51,"box":{"x":122,"y":139,"width":84,"height":8}},{"id":"6d8df267-cef3-4d52-9863-99575e7e46e5","block_type":"box","text":"agriculture","page_number":51,"box":{"x":122,"y":152,"width":77,"height":10}},{"id":"e6c1d93d-0582-4212-b7ac-58d8351a87fe","block_type":"box","text":"Sustainable agriculture contributes significantly to both","page_number":51,"box":{"x":297,"y":139,"width":370,"height":11}},{"id":"59d6eda8-c6cd-454a-a3a8-a9d42b0faed4","block_type":"box","text":"SDG 2 and SDG 15. As the key related targets of SDG","page_number":51,"box":{"x":297,"y":152,"width":370,"height":10}},{"id":"44d27fa1-7bff-454e-b809-8c09b0e5d807","block_type":"box","text":"2 align to agricultural practices the theme has been","page_number":51,"box":{"x":296,"y":164,"width":371,"height":10}},{"id":"cae93c16-c154-46da-a90d-5658aa4adf95","block_type":"box","text":"captured in the Earth pillar.","page_number":51,"box":{"x":297,"y":177,"width":179,"height":9}},{"id":"1085f2c2-42d5-40b1-ab7b-0c41985a2da4","block_type":"box","text":"15 – Life on Land","page_number":51,"box":{"x":670,"y":140,"width":122,"height":7}},{"id":"cbc7914f-d888-4cc6-b179-9c4f560c8737","block_type":"box","text":"Sustainable Forestry","page_number":51,"box":{"x":122,"y":189,"width":149,"height":11}},{"id":"2932fcb5-efb1-4d38-8e87-ffccd98241a0","block_type":"box","text":"Sustainable forestry principles link explicitly to SDG 15","page_number":51,"box":{"x":297,"y":189,"width":371,"height":11}},{"id":"68a320f1-eba8-4320-89c1-1bde20e1f2b8","block_type":"box","text":"which aims to protect, restore, and promote the","page_number":51,"box":{"x":296,"y":202,"width":372,"height":10}},{"id":"6eba0e36-ec04-41e8-a542-db56feb26107","block_type":"box","text":"sustainable use of terrestrial ecosystems.","page_number":51,"box":{"x":297,"y":214,"width":275,"height":10}},{"id":"1ec3a7ef-5282-4b29-b636-fb4bdfdf3b91","block_type":"box","text":"Sustainable oceans","page_number":51,"box":{"x":122,"y":227,"width":140,"height":8}},{"id":"9d373cec-ce0f-43ca-85e2-4a41e19af0cd","block_type":"box","text":"Sustainable oceans are the focus of the SDG 14, which","page_number":51,"box":{"x":297,"y":227,"width":370,"height":10}},{"id":"39b5d690-d275-454c-ae2f-1cbc16fcb025","block_type":"box","text":"aims to conserve and sustainably use the oceans, seas,","page_number":51,"box":{"x":297,"y":240,"width":370,"height":10}},{"id":"b178c4e0-5656-43f6-9c17-392159a3cb89","block_type":"box","text":"and marine resources.","page_number":51,"box":{"x":297,"y":252,"width":148,"height":8}},{"id":"158bb83d-a643-49d7-87fe-9bb01a333703","block_type":"box","text":"14 –","page_number":51,"box":{"x":670,"y":227,"width":42,"height":8}},{"id":"02223dba-7838-4230-be53-98d4280b7ae5","block_type":"box","text":"Life Below","page_number":51,"box":{"x":731,"y":227,"width":87,"height":8}},{"id":"bcd9e141-c65a-487c-93f2-11d07798e33c","block_type":"box","text":"Water","page_number":51,"box":{"x":670,"y":240,"width":41,"height":8}},{"id":"652b8476-b467-4359-890d-55fd223bde2e","block_type":"box","text":"People","page_number":51,"box":{"x":64,"y":368,"width":48,"height":10}},{"id":"7db34885-e64d-4ebd-83e9-735c920c3582","block_type":"box","text":"Affordable Housing","page_number":51,"box":{"x":122,"y":267,"width":139,"height":10}},{"id":"e7910a2b-80d5-4c30-a844-bc092ccbd7b7","block_type":"box","text":"Affordable and safe housing is considered a key element","page_number":51,"box":{"x":296,"y":267,"width":372,"height":10}},{"id":"5bf90663-0f2b-4d56-8823-048a25ff99d1","block_type":"box","text":"of SDG 1, with improving living standards being","page_number":51,"box":{"x":297,"y":279,"width":370,"height":10}},{"id":"4050784d-6391-42b0-ad62-13d46ddfb9d5","block_type":"box","text":"considered a key contributor to reducing poverty.","page_number":51,"box":{"x":297,"y":292,"width":325,"height":10}},{"id":"86b8ee8f-a64a-4723-a336-1c3ff71f1be9","block_type":"box","text":"1 – No Poverty","page_number":51,"box":{"x":670,"y":267,"width":104,"height":10}},{"id":"27e107be-d0ab-4871-8d78-fe4bec6c9d10","block_type":"box","text":"Access to Nutrition","page_number":51,"box":{"x":122,"y":305,"width":137,"height":8}},{"id":"5e3aafae-f68a-4e8b-97a7-b147a166bd5d","block_type":"box","text":"Access to nutrition is a key component of SDG 2 -","page_number":51,"box":{"x":296,"y":305,"width":336,"height":10}},{"id":"5d963fc2-e446-42b4-a1d2-d8e9ead1649e","block_type":"box","text":"Zero","page_number":51,"box":{"x":637,"y":305,"width":31,"height":8}},{"id":"f130162f-dfc5-4f3f-a6a1-ab03cca2f403","block_type":"box","text":"Hunger. This goal aims to end hunger, achieve food","page_number":51,"box":{"x":297,"y":317,"width":370,"height":10}},{"id":"6f3fa2d9-75ff-4363-9908-20d4fdfa12ea","block_type":"box","text":"security, improve nutrition, and promote sustainable","page_number":51,"box":{"x":297,"y":329,"width":371,"height":10}},{"id":"0c921dd4-0837-4155-8154-bebe26a1a1d8","block_type":"box","text":"agriculture by 2030.","page_number":51,"box":{"x":297,"y":342,"width":131,"height":10}},{"id":"c604f2cf-23c8-4e49-b3da-c456bfac85d6","block_type":"box","text":"2 – Zero Hunger","page_number":51,"box":{"x":670,"y":305,"width":115,"height":10}},{"id":"7b2cf1b3-7e83-4f68-b786-13f275fa45da","block_type":"box","text":"Healthcare","page_number":51,"box":{"x":123,"y":355,"width":76,"height":8}},{"id":"7c094815-b68f-45d5-93f3-948f51fac5e6","block_type":"box","text":"Healthcare is a central focus of SDG 3: Good Health and","page_number":51,"box":{"x":297,"y":355,"width":370,"height":8}},{"id":"c6e94109-a067-4c31-a7a9-8eb387cf5b81","block_type":"box","text":"Well-","page_number":51,"box":{"x":296,"y":367,"width":34,"height":8}},{"id":"14385c12-d851-4597-b232-84b6f86dd83b","block_type":"box","text":"being. This goal aims to ensure healthy lives and","page_number":51,"box":{"x":332,"y":367,"width":336,"height":10}},{"id":"f5810296-7f6c-4238-9d0f-f5c5f827a531","block_type":"box","text":"promote well-being for all at all ages by 2030.","page_number":51,"box":{"x":297,"y":379,"width":302,"height":10}},{"id":"c31b4daa-61e0-4bc0-b8bf-2f700931ea64","block_type":"box","text":"3 –","page_number":51,"box":{"x":670,"y":355,"width":21,"height":8}},{"id":"2529a280-935e-48a4-9d4b-a929b0f6c77b","block_type":"box","text":"Good Health and","page_number":51,"box":{"x":697,"y":355,"width":121,"height":8}},{"id":"064be251-affd-4664-a2f3-b99b36923d79","block_type":"box","text":"Well-Being","page_number":51,"box":{"x":670,"y":367,"width":77,"height":10}},{"id":"57ae0529-1005-4807-91ac-d64d82476a6e","block_type":"box","text":"Access to education","page_number":51,"box":{"x":122,"y":395,"width":158,"height":7}},{"id":"ba4ffc20-cd9b-4d62-bcb2-c673e1ebd3da","block_type":"box","text":"Access to education is a key focus of SDG 4, which aims","page_number":51,"box":{"x":296,"y":394,"width":372,"height":11}},{"id":"f583b554-cdd1-472c-89e8-260b86b5840a","block_type":"box","text":"to ensure inclusive and equitable quality education and","page_number":51,"box":{"x":296,"y":407,"width":371,"height":10}},{"id":"08b5b590-e58c-46bc-ba32-938dc689bae3","block_type":"box","text":"promote lifelong learning opportunities for all.","page_number":51,"box":{"x":297,"y":419,"width":300,"height":10}},{"id":"3cff8ea8-b96b-4bbc-9dd1-da701a2c8da4","block_type":"box","text":"4","page_number":51,"box":{"x":670,"y":395,"width":7,"height":7}},{"id":"29f78ab0-c177-47fe-84a9-8751d990613b","block_type":"box","text":"–","page_number":51,"box":{"x":718,"y":399,"width":9,"height":1}},{"id":"1aa42b2b-8dc6-4218-a0be-96dc99cb8323","block_type":"box","text":"Quality","page_number":51,"box":{"x":768,"y":394,"width":50,"height":11}},{"id":"1268f1bf-87a7-44a4-83a2-507f1bc2f34d","block_type":"box","text":"Education","page_number":51,"box":{"x":671,"y":407,"width":71,"height":8}},{"id":"78bb2994-38af-4733-bd64-1bca854fe2f2","block_type":"box","text":"Access to finance","page_number":51,"box":{"x":122,"y":432,"width":128,"height":8}},{"id":"e2ba6010-58a5-4ffa-a930-eecf64e693be","block_type":"box","text":"Access to finance is a crucial aspect of achieving the","page_number":51,"box":{"x":296,"y":432,"width":372,"height":10}},{"id":"be4327e2-51b8-4ffd-a67c-5b0f131896a9","block_type":"box","text":"SDGs particularly SDG 8, which focuses on promoting","page_number":51,"box":{"x":297,"y":444,"width":370,"height":11}},{"id":"1de7161b-7642-47e2-9d4b-c05b16baa145","block_type":"box","text":"sustained, inclusive, and sustainable economic growth,","page_number":51,"box":{"x":297,"y":457,"width":370,"height":10}},{"id":"de93c035-685e-4279-829f-5e649fd44371","block_type":"box","text":"full and productive employment, and decent work for all.","page_number":51,"box":{"x":296,"y":469,"width":367,"height":10}},{"id":"0c27cf33-1b0d-4793-99f9-c44109547f2d","block_type":"box","text":"8-","page_number":51,"box":{"x":670,"y":432,"width":13,"height":8}},{"id":"ef456b8e-328f-4918-927d-3f4d397b02a8","block_type":"box","text":"Decent work and","page_number":51,"box":{"x":684,"y":432,"width":134,"height":8}},{"id":"6764a00e-dc0f-4086-86c4-53f7c06ed3a6","block_type":"box","text":"economic growth","page_number":51,"box":{"x":670,"y":445,"width":124,"height":10}},{"id":"c9be70e9-2ba8-480a-bf90-5a70c6ef11d2","block_type":"box","text":"Operations","page_number":51,"box":{"x":63,"y":491,"width":81,"height":11}},{"id":"245c31d7-5be3-4dce-9993-ea05e7315004","block_type":"box","text":"Pillar","page_number":51,"box":{"x":64,"y":514,"width":37,"height":8}},{"id":"072848ff-8da5-443d-bbf2-c45165fe9e2c","block_type":"box","text":"Investment themes","page_number":51,"box":{"x":111,"y":514,"width":137,"height":8}},{"id":"1bbdc3f3-b5e9-4cb8-a445-f61579d87789","block_type":"box","text":"Relevant UN SDGs","page_number":51,"box":{"x":296,"y":514,"width":134,"height":8}},{"id":"d3a81d48-898b-46ae-a3f0-daaee964fea7","block_type":"box","text":"Indicative Goals","page_number":51,"box":{"x":677,"y":514,"width":116,"height":8}},{"id":"ff7bcaaf-33b9-4fa1-9d87-3fd80eb437c2","block_type":"box","text":"Climat","page_number":51,"box":{"x":63,"y":570,"width":46,"height":8}},{"id":"b45e2b0b-329e-495b-b748-e3df5faf2353","block_type":"box","text":"e","page_number":51,"box":{"x":63,"y":585,"width":8,"height":6}},{"id":"60fefd4e-77bf-471f-80a3-2a4d9db8cbbc","block_type":"box","text":"Response to Climate","page_number":51,"box":{"x":111,"y":527,"width":182,"height":10}},{"id":"81b617a3-6ba1-4ed2-9036-9c1754d879c9","block_type":"box","text":"Change","page_number":51,"box":{"x":111,"y":540,"width":52,"height":10}},{"id":"f1474abf-b420-4dab-aeaf-416a9baa21f9","block_type":"box","text":"(Targets, Disclosures,","page_number":51,"box":{"x":111,"y":552,"width":182,"height":10}},{"id":"b745214e-3d6c-4611-aef0-044f9070cca6","block_type":"box","text":"Strategies)","page_number":51,"box":{"x":111,"y":564,"width":72,"height":10}},{"id":"e32bab21-6a49-40ad-9fef-8bf65713f474","block_type":"box","text":"Company operations significantly impact climate change","page_number":51,"box":{"x":296,"y":558,"width":378,"height":10}},{"id":"394c6723-5217-4b37-8108-9b5707b7adba","block_type":"box","text":"through their direct emissions and energy consumption","page_number":51,"box":{"x":295,"y":571,"width":379,"height":10}},{"id":"ad64a5cd-3eaa-473d-986c-39bf184fb80b","block_type":"box","text":"as well as the emissions embedded throughout their","page_number":51,"box":{"x":296,"y":583,"width":379,"height":10}},{"id":"4886b690-e8df-48c5-9f1f-217379326c6b","block_type":"box","text":"supply chains.","page_number":51,"box":{"x":296,"y":595,"width":94,"height":10}},{"id":"20c796c2-4ea5-4868-b816-3df87d84e997","block_type":"box","text":"7 –","page_number":51,"box":{"x":676,"y":528,"width":24,"height":7}},{"id":"ba066e74-b8ab-4cb3-908b-0505c1cc98a0","block_type":"box","text":"Affordable and","page_number":51,"box":{"x":708,"y":527,"width":109,"height":8}},{"id":"6aa04b34-7e0e-4f62-9364-42665a465485","block_type":"box","text":"Clean Energy","page_number":51,"box":{"x":677,"y":540,"width":96,"height":10}},{"id":"d220bc64-c0fd-4054-b51d-c0a7f06fc178","block_type":"box","text":"9 –","page_number":51,"box":{"x":677,"y":552,"width":46,"height":8}},{"id":"4262a2f0-6531-451b-a8d8-338c35d4fd3f","block_type":"box","text":"Industry,","page_number":51,"box":{"x":755,"y":552,"width":62,"height":10}},{"id":"5fe267d5-3f15-4cc4-8351-382651a85ac5","block_type":"box","text":"Innovation and","page_number":51,"box":{"x":677,"y":564,"width":140,"height":8}},{"id":"3038684a-e61a-424f-92c3-3ce26f3eeb67","block_type":"box","text":"infrastructure","page_number":51,"box":{"x":677,"y":577,"width":97,"height":8}},{"id":"d5d54c84-2bc1-4532-8bea-2f75127c5b70","block_type":"box","text":"11 –","page_number":51,"box":{"x":677,"y":589,"width":40,"height":8}},{"id":"9ffbfed1-c61f-4876-8485-21d1902f1255","block_type":"box","text":"Sustainable","page_number":51,"box":{"x":734,"y":589,"width":84,"height":8}},{"id":"87d0326d-e59c-4cd0-9607-6b270d92463a","block_type":"box","text":"Cities and","page_number":51,"box":{"x":677,"y":601,"width":140,"height":8}},{"id":"cb8101fd-5011-4ae0-a8e8-50d8e9e99e03","block_type":"box","text":"Communities","page_number":51,"box":{"x":677,"y":613,"width":94,"height":8}},{"id":"5f3be11c-fc3f-4b26-a8a7-be9a5c0eb640","block_type":"box","text":"13","page_number":51,"box":{"x":677,"y":626,"width":15,"height":8}},{"id":"98688bed-516e-4271-a39d-54ab392c743c","block_type":"box","text":"–","page_number":51,"box":{"x":697,"y":630,"width":8,"height":1}},{"id":"45d57555-d9b8-462f-baca-161d263a3617","block_type":"box","text":"Climate Action","page_number":51,"box":{"x":709,"y":626,"width":104,"height":8}},{"id":"9b3c5f0b-b948-4ba3-8f6c-b4d3e56e4b07","block_type":"box","text":"Earth","page_number":51,"box":{"x":64,"y":676,"width":36,"height":8}},{"id":"eb0718b1-40f4-442b-adf5-f576effd6962","block_type":"box","text":"Nature (Biodiversity)","page_number":51,"box":{"x":111,"y":639,"width":135,"height":10}},{"id":"ea26e923-f4c1-4d1b-97e4-5c2d080aea8c","block_type":"box","text":"Companies can have significant impacts on natural","page_number":51,"box":{"x":296,"y":663,"width":378,"height":11}},{"id":"2496b0fe-2bbc-47ec-9b58-02ace1524417","block_type":"box","text":"capital through resource use and waste, product lifecycle,","page_number":51,"box":{"x":296,"y":676,"width":378,"height":10}},{"id":"c67e36c7-781d-4b7f-8984-091d445d8e3e","block_type":"box","text":"supply chain, land use, climate change, and through","page_number":51,"box":{"x":296,"y":688,"width":378,"height":10}},{"id":"e81d82f7-cf3f-4304-bb80-ec5f5e741487","block_type":"box","text":"disrupting ecosystems.","page_number":51,"box":{"x":296,"y":701,"width":152,"height":10}},{"id":"d2adcdc6-8430-4336-8daa-eb3482d5de40","block_type":"box","text":"6 –","page_number":51,"box":{"x":681,"y":639,"width":29,"height":8}},{"id":"34d0e6e8-79d1-4016-ba6f-75e2e6cf7076","block_type":"box","text":"Clean Water","page_number":51,"box":{"x":723,"y":639,"width":95,"height":8}},{"id":"c66c93c1-6985-478a-8a2e-a36ac612a3e4","block_type":"box","text":"and Sanitation","page_number":51,"box":{"x":677,"y":651,"width":102,"height":8}},{"id":"ae33c221-80fb-43eb-8ada-be76c2bf779f","block_type":"box","text":"12 –","page_number":51,"box":{"x":677,"y":664,"width":38,"height":7}},{"id":"cc0f2823-5406-4fb4-ab25-945fc618dda7","block_type":"box","text":"Responsible","page_number":51,"box":{"x":729,"y":664,"width":89,"height":10}},{"id":"d21e5a3b-9ff4-4120-a55d-d3791f1190b8","block_type":"box","text":"Consumption and","page_number":51,"box":{"x":677,"y":676,"width":140,"height":10}},{"id":"ff482411-570e-4d92-870e-dc7e8dbb534c","block_type":"box","text":"Production","page_number":51,"box":{"x":677,"y":688,"width":78,"height":8}},{"id":"03764aed-f67d-4273-ba56-1db7dda4a981","block_type":"box","text":"14 –","page_number":51,"box":{"x":677,"y":701,"width":40,"height":7}},{"id":"141cded7-f3b8-40f3-98c2-9481a95a7768","block_type":"box","text":"Life Below","page_number":51,"box":{"x":733,"y":700,"width":85,"height":8}},{"id":"c59840d7-3b6f-412e-bca3-ba1ce1178c35","block_type":"box","text":"Water","page_number":51,"box":{"x":676,"y":713,"width":42,"height":8}},{"id":"6debc67d-868f-4fd3-bb7f-507a1fdaa42b","block_type":"box","text":"15","page_number":51,"box":{"x":677,"y":725,"width":15,"height":8}},{"id":"9407912a-551a-42de-abaf-d0c894f7f26e","block_type":"box","text":"–","page_number":51,"box":{"x":697,"y":729,"width":9,"height":1}},{"id":"df6e780a-d605-47bd-9059-c6f72a566cbc","block_type":"box","text":"Life on Land","page_number":51,"box":{"x":711,"y":725,"width":88,"height":8}},{"id":"0d5bbbd1-1588-400d-9090-2233e392bb40","block_type":"box","text":"Land and Ocean Use","page_number":51,"box":{"x":111,"y":658,"width":142,"height":8}},{"id":"c6cac866-b9d7-4ff1-bdf6-9103d18a528d","block_type":"box","text":"Natural resources","page_number":51,"box":{"x":111,"y":679,"width":118,"height":8}},{"id":"94df1ed6-c898-4103-82a5-f25503d20894","block_type":"box","text":"Peopl","page_number":51,"box":{"x":64,"y":788,"width":39,"height":9}},{"id":"1142a821-93ee-41c4-9646-b155dd6b7b25","block_type":"box","text":"e","page_number":51,"box":{"x":63,"y":802,"width":8,"height":6}},{"id":"a484d7ed-e5f3-4d45-b876-3ddaea72118a","block_type":"box","text":"Corporate Responsibility","page_number":51,"box":{"x":111,"y":738,"width":183,"height":10}},{"id":"14eec22b-e555-4f85-891b-e9167d5f20ec","block_type":"box","text":"and Ethics","page_number":51,"box":{"x":111,"y":751,"width":69,"height":7}},{"id":"c61b7bbe-00e5-4470-b993-baaa0401e9b0","block_type":"box","text":"Company operations can have a wide range of impacts","page_number":51,"box":{"x":296,"y":781,"width":378,"height":10}},{"id":"0e440227-121a-4833-aa39-c494c337e3ab","block_type":"box","text":"on people, including employees, customers, and the","page_number":51,"box":{"x":296,"y":794,"width":378,"height":10}},{"id":"8d795266-e74d-4db7-b48a-6f639fa66f75","block_type":"box","text":"broader community.","page_number":51,"box":{"x":296,"y":806,"width":132,"height":10}},{"id":"8231cb93-9602-473c-8464-997c568752ec","block_type":"box","text":"5","page_number":51,"box":{"x":676,"y":738,"width":8,"height":8}},{"id":"867d990f-d419-4fe5-857e-c14d084a7c34","block_type":"box","text":"–","page_number":51,"box":{"x":720,"y":742,"width":9,"height":2}},{"id":"598ef77c-d598-4a05-9ae4-677d5e7c5fbb","block_type":"box","text":"Gender","page_number":51,"box":{"x":765,"y":738,"width":53,"height":8}},{"id":"0f3c65d9-f44d-4ab5-a081-b687e788e904","block_type":"box","text":"Equality","page_number":51,"box":{"x":677,"y":751,"width":58,"height":10}},{"id":"b7b5dc22-3a68-479a-b6f2-874e379f5bf1","block_type":"box","text":"8 –","page_number":51,"box":{"x":677,"y":763,"width":28,"height":8}},{"id":"4e92ed04-c1b1-4e11-9847-bc370bf958e8","block_type":"box","text":"Decent Work","page_number":51,"box":{"x":719,"y":763,"width":99,"height":8}},{"id":"ba8a9706-8696-4213-9a2c-219398499648","block_type":"box","text":"and Economic","page_number":51,"box":{"x":677,"y":775,"width":140,"height":8}},{"id":"ebc27201-85bf-470e-b6d0-e255140fab09","block_type":"box","text":"Growth","page_number":51,"box":{"x":677,"y":788,"width":51,"height":7}},{"id":"0a2b4c2f-1526-4183-8214-ac1e733d003d","block_type":"box","text":"10 –","page_number":51,"box":{"x":677,"y":800,"width":51,"height":8}},{"id":"f5c82778-a6fe-4219-b8fc-c599832c218a","block_type":"box","text":"Reduced","page_number":51,"box":{"x":755,"y":800,"width":62,"height":8}},{"id":"f59cb13d-bdaf-435d-961a-8bc75498c3a9","block_type":"box","text":"Inequalities","page_number":51,"box":{"x":677,"y":812,"width":82,"height":10}},{"id":"9be1e538-1ff0-4f82-a50d-898ec6890950","block_type":"box","text":"16-","page_number":51,"box":{"x":677,"y":824,"width":21,"height":8}},{"id":"a8429a3b-598e-4e0f-bd0d-4343d887924a","block_type":"box","text":"Peace, Justice","page_number":51,"box":{"x":709,"y":824,"width":109,"height":10}},{"id":"6018d980-cdd0-4feb-8707-b44b89dc2249","block_type":"box","text":"and Strong","page_number":51,"box":{"x":677,"y":836,"width":140,"height":11}},{"id":"6149c192-d416-4ccc-aca7-fb58b8fa7352","block_type":"box","text":"Institutions","page_number":51,"box":{"x":677,"y":849,"width":80,"height":8}},{"id":"e22e1b82-0c09-42f3-a499-a224ba0da21d","block_type":"box","text":"The Investment Manager keeps the investment framework under review and may from time to time update the","page_number":51,"box":{"x":62,"y":888,"width":861,"height":11}},{"id":"22982a74-1f1c-44ed-8b11-6b7fc3a205e2","block_type":"box","text":"investment themes, or introduce new investment themes, as the market evolves and/or sustainability expectations","page_number":51,"box":{"x":62,"y":901,"width":861,"height":12}},{"id":"21d97ea8-b942-4896-b0b3-91213bb3275f","block_type":"box","text":"develop.","page_number":51,"box":{"x":62,"y":915,"width":61,"height":11}},{"id":"ddc36ea7-dde7-42c6-9d5c-51ee1e089dd3","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":52,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"bc650fa2-351d-4f0d-83d1-b3dcce88382d","block_type":"box","text":"52","page_number":52,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"61738e6b-0e8a-451e-b7ec-9e377a1d46bc","block_type":"box","text":"Aviva Investors: Confidential","page_number":52,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"a53dd110-b9bd-481e-bc84-c6319d45d1da","block_type":"box","text":"To assess a potential investment’s eligibility under the investment framework, the Investment Manager uses both","page_number":52,"box":{"x":62,"y":52,"width":860,"height":12}},{"id":"5f24e258-74a2-493a-bd9c-634bd2ad0851","block_type":"box","text":"quantitative and qualitative elements, including a broad range of third-party market data tools, internal research,","page_number":52,"box":{"x":62,"y":66,"width":860,"height":11}},{"id":"7446bf3d-452b-430e-ad75-77494018ccee","block_type":"box","text":"external broker and NGO research, benchmarks, and company disclosures and reports to provide accurate data and","page_number":52,"box":{"x":62,"y":80,"width":860,"height":11}},{"id":"d402b627-34fb-4124-bf0c-aac926008f52","block_type":"box","text":"insights into each company. Operational, product and service considerations, alignment to the investment themes","page_number":52,"box":{"x":62,"y":93,"width":860,"height":12}},{"id":"2448e60d-686f-49ce-86fe-6d16dc642e77","block_type":"box","text":"and KPIs will be subject to change overtime, informed by the Investment Manager’s view on the quality and coverage","page_number":52,"box":{"x":62,"y":107,"width":861,"height":11}},{"id":"d647c098-30dc-4b37-b163-a858c69e8e15","block_type":"box","text":"of available data points, and to respond to evolving developments in the market and best practice.","page_number":52,"box":{"x":62,"y":121,"width":724,"height":11}},{"id":"82e3e675-908f-4e9d-a156-e7e242d6e2ec","block_type":"box","text":"Investors should note that, due to the diversity and range of sectors within the Fund’s potential investment universe,","page_number":52,"box":{"x":63,"y":140,"width":859,"height":12}},{"id":"8063f293-5cd9-43bd-9dc2-a656fbcf2301","block_type":"box","text":"it is unlikely that each investment will positively align to all of the three pillars or to all of the SDGs.","page_number":52,"box":{"x":62,"y":154,"width":724,"height":11}},{"id":"6d5e0f36-8682-4477-8ec1-28274f4a3254","block_type":"box","text":"Products and Services companies","page_number":52,"box":{"x":63,"y":193,"width":271,"height":11}},{"id":"6c338d27-b57b-4208-be9f-2ef7c98b9087","block_type":"box","text":"Eligibility due to products and services provided by companies is determined by assessing the revenue aligned to","page_number":52,"box":{"x":63,"y":213,"width":860,"height":11}},{"id":"f096f4f3-f224-4a85-bbf0-fa31cb7d4b55","block_type":"box","text":"investment themes as described in the table above. This can be products or services in themselves or specific key","page_number":52,"box":{"x":62,"y":226,"width":861,"height":12}},{"id":"c0c24fe6-1e40-4e5c-b626-b0daf1a7f068","block_type":"box","text":"components that enable the delivery of products or services that lead to sustainable outcomes.","page_number":52,"box":{"x":62,"y":240,"width":701,"height":11}},{"id":"e428ffa5-d92d-4e16-87fa-ceafdcc3697d","block_type":"box","text":"To qualify for investment through its products and services, that company must meet either the necessary “revenue”","page_number":52,"box":{"x":62,"y":260,"width":861,"height":11}},{"id":"10a6e207-43d2-4d7b-ae0f-476375eb52f6","block_type":"box","text":"or “pre-revenue” criteria (as outlined below). Companies meeting this initial revenue criteria are then subject to","page_number":52,"box":{"x":62,"y":273,"width":861,"height":12}},{"id":"e021910d-dc87-44ef-9345-94d4315a1607","block_type":"box","text":"additional assessment using the Investment Manager’s proprietary analysis which further examines revenue sources","page_number":52,"box":{"x":62,"y":287,"width":861,"height":11}},{"id":"6f0087f2-7488-458c-8839-1d4150451221","block_type":"box","text":"by business segment. Only companies satisfying both the revenue criteria and the additional assessment will be","page_number":52,"box":{"x":62,"y":301,"width":861,"height":11}},{"id":"5cb42ef2-eb5f-41e6-8c80-8727be6d1e2f","block_type":"box","text":"regarded as eligible for investment by the Sub-Fund.","page_number":52,"box":{"x":63,"y":314,"width":387,"height":12}},{"id":"27a24c25-c959-4822-ad61-28a00243fe6f","block_type":"box","text":"To meet the “revenue” criteria, the issuing company must derive at least 20% of its revenues from products or services","page_number":52,"box":{"x":62,"y":334,"width":861,"height":11}},{"id":"f8b8d993-a5a7-4c01-8c13-edf5b85ee91a","block_type":"box","text":"linked to one of the pillars (see above). In most circumstances, a company that meets this 20% threshold: (i) must","page_number":52,"box":{"x":62,"y":348,"width":861,"height":11}},{"id":"cb01bd8f-f738-4bf5-8b07-c3211d8c59c6","block_type":"box","text":"also have no revenue from products or services assessed as misaligned to the three pillars; and (ii) there must be no","page_number":52,"box":{"x":62,"y":361,"width":861,"height":11}},{"id":"6d7562db-d298-4fa7-bb84-272d19d3af60","block_type":"box","text":"evidence available to the Investment Manager that suggests the company is subject to a material controversy on","page_number":52,"box":{"x":62,"y":375,"width":860,"height":11}},{"id":"818c0503-64b1-49c1-8ad6-04c9733741ac","block_type":"box","text":"environmental, human rights or labour-related issues. However, in the event that such misalignment or controversies","page_number":52,"box":{"x":62,"y":389,"width":861,"height":11}},{"id":"f2703651-f0f7-4bf8-85d7-8292e0f4096c","block_type":"box","text":"are identified, that issuing company may still be eligible for investment if the Investment Manager identifies - through","page_number":52,"box":{"x":62,"y":402,"width":860,"height":11}},{"id":"26c44514-cae9-4c28-8303-d3e91dcd9bf5","block_type":"box","text":"its deep dive assessment - credible evidence that such misalignment / controversies are not material and/or are being","page_number":52,"box":{"x":62,"y":416,"width":860,"height":11}},{"id":"fe749d78-776d-44a6-8511-7fbc16b4fc01","block_type":"box","text":"resolved or mitigated.","page_number":52,"box":{"x":63,"y":430,"width":157,"height":11}},{"id":"7824af98-186b-4cad-a9d4-21c255894659","block_type":"box","text":"To meet the “pre-revenue” criteria, the Investment Manager must identify – through its deep dive assessment –","page_number":52,"box":{"x":62,"y":449,"width":861,"height":11}},{"id":"645a433f-bcc6-46f2-abb8-1626bc507fe7","block_type":"box","text":"credible evidence that the company is in the early stages of providing a product / service linked to one of the three","page_number":52,"box":{"x":62,"y":463,"width":861,"height":11}},{"id":"42293042-ec37-4156-b636-50cb77fdbcd0","block_type":"box","text":"pillars and is projected to derive at least 20% of its revenue from that product/service in the future. The Investment","page_number":52,"box":{"x":62,"y":476,"width":861,"height":12}},{"id":"cad096b5-1df3-4a6e-9f07-f90d5375054c","block_type":"box","text":"Manager will therefore require evidence (such as a formal commitment made in public or through direct engagement","page_number":52,"box":{"x":63,"y":490,"width":860,"height":11}},{"id":"01dbfe9d-2958-4915-9242-20600c1a2246","block_type":"box","text":"with the company) that the company is investing in, researching and developing sustainable products/services, and","page_number":52,"box":{"x":62,"y":504,"width":860,"height":11}},{"id":"86c31237-4822-4fbc-a93d-9302a80d7390","block_type":"box","text":"that such products/services are likely to be a material (i.e. at least 20%) revenue stream for the company over time.","page_number":52,"box":{"x":62,"y":517,"width":860,"height":12}},{"id":"e4f16412-7ff9-40a7-9dbc-e44c2c7d8ae3","block_type":"box","text":"In the case of issuers that are in the early stages of development or investment where there is no revenue data","page_number":52,"box":{"x":63,"y":531,"width":860,"height":11}},{"id":"501894ec-ea71-4da2-adb8-5ecf00d3b65e","block_type":"box","text":"available yet, the Investment Manager may employ bespoke financial models to estimate the revenue potential of the","page_number":52,"box":{"x":62,"y":545,"width":861,"height":11}},{"id":"d74b6ad3-f6c2-4b81-bd10-9b474540586e","block_type":"box","text":"business segment that can capture the unique nature of such investments.","page_number":52,"box":{"x":62,"y":558,"width":552,"height":12}},{"id":"13615919-a553-4aca-98b5-a34db979decb","block_type":"box","text":"Operations companies","page_number":52,"box":{"x":62,"y":598,"width":180,"height":11}},{"id":"c0ce7cce-87df-4da7-9a2c-1843cd78ab56","block_type":"box","text":"To qualify for investment as an “operations” company, that company will need to demonstrate that it is aligned or is","page_number":52,"box":{"x":62,"y":617,"width":861,"height":11}},{"id":"5cc5d095-93af-4995-80ac-96512af4ec1f","block_type":"box","text":"actively aligning its business models and operations to one or more of the investment themes linked to the three pillars","page_number":52,"box":{"x":62,"y":631,"width":861,"height":11}},{"id":"ab4f28c2-04de-4c0e-81a9-baa6a3773b49","block_type":"box","text":"(see the table above). The Investment Manager will assess the company’s policies, practices and performance","page_number":52,"box":{"x":63,"y":644,"width":860,"height":12}},{"id":"add71443-4a88-4bb0-8287-f0d8ffb3e916","block_type":"box","text":"against these investment themes, for example:","page_number":52,"box":{"x":62,"y":658,"width":345,"height":11}},{"id":"32c1deb9-2dcb-433e-9d67-a5ad022d3923","block_type":"box","text":"Policies","page_number":52,"box":{"x":63,"y":678,"width":62,"height":9}},{"id":"d5be98da-aa96-4e7d-b447-74d18b964eff","block_type":"box","text":":","page_number":52,"box":{"x":126,"y":680,"width":3,"height":6}},{"id":"3df9ce9a-8dca-4c47-ad5c-edb216044c5a","block_type":"box","text":"Publicly disclosed statements and commitments that detail the company’s approach, governance and risk","page_number":52,"box":{"x":137,"y":678,"width":787,"height":11}},{"id":"c7f87bb5-36b7-4211-bf3b-ab1d78c85c79","block_type":"box","text":"assessment frameworks for social and environmental issues. This can include the company’s published policies for","page_number":52,"box":{"x":62,"y":691,"width":861,"height":12}},{"id":"50db7c01-b923-4df8-b254-7e9f2e928712","block_type":"box","text":"specific themes (e.g. biodiversity protection policy, for example), or broader company disclosures through widely","page_number":52,"box":{"x":62,"y":705,"width":861,"height":11}},{"id":"5f4ed37c-6831-4869-ab56-d55ac1e10772","block_type":"box","text":"accepted governance reporting frameworks (for example, the environmental disclosure and scoring system operated","page_number":52,"box":{"x":62,"y":719,"width":860,"height":11}},{"id":"89d5d4be-92eb-44f3-be6f-5236120f4905","block_type":"box","text":"by organisations such as CDP Worldwide).","page_number":52,"box":{"x":62,"y":732,"width":316,"height":12}},{"id":"9f3170b4-a28e-41e1-b938-111809c3d3ee","block_type":"box","text":"Practices","page_number":52,"box":{"x":63,"y":752,"width":73,"height":9}},{"id":"d4c8b881-2abf-40c5-8a09-4df4aaa42970","block_type":"box","text":":","page_number":52,"box":{"x":138,"y":755,"width":2,"height":6}},{"id":"4e352149-0dce-4315-b54b-3cf7d58ccbcf","block_type":"box","text":"Commitments to specific company actions within its operations to manage and mitigate social and","page_number":52,"box":{"x":151,"y":752,"width":772,"height":11}},{"id":"65e9592b-e4c2-4cf0-938d-530dbd7c6cc5","block_type":"box","text":"environmental issues. This can include specific programmes (e.g., programs to facilitate workforce diversity),","page_number":52,"box":{"x":62,"y":766,"width":860,"height":11}},{"id":"f06d6e2e-d7b5-434b-b68e-0509bfac68e6","block_type":"box","text":"participating in best practice external initiatives (e.g., UN Global Compact signatory) and setting or committing to","page_number":52,"box":{"x":62,"y":779,"width":861,"height":11}},{"id":"fff9ed94-4db9-4d7e-bd0f-fa473657201f","block_type":"box","text":"setting quantitative targets (e.g., Science Based Target initiative (SBTi) verification or equivalent emission reduction","page_number":52,"box":{"x":62,"y":793,"width":860,"height":11}},{"id":"2ae34933-fdbe-4e8b-9f29-08fc71bfb31a","block_type":"box","text":"target) within its business models, strategy and operations.","page_number":52,"box":{"x":62,"y":807,"width":435,"height":11}},{"id":"8cbe2fe4-7778-4dc1-9364-e4cd9125cae0","block_type":"box","text":"Performance","page_number":52,"box":{"x":63,"y":826,"width":102,"height":9}},{"id":"e4d7737b-b06a-49bd-b0d2-2dab7c604102","block_type":"box","text":":","page_number":52,"box":{"x":166,"y":829,"width":2,"height":6}},{"id":"25f8f1f8-700f-4961-b636-040a1846f1ec","block_type":"box","text":"Realised performance on specific social and environmental issues or progress towards internal targets","page_number":52,"box":{"x":175,"y":826,"width":748,"height":11}},{"id":"a34aa834-abc7-4069-90b0-91edb0bb066e","block_type":"box","text":"(e.g., percentage of women directors, for example).","page_number":52,"box":{"x":63,"y":840,"width":378,"height":11}},{"id":"6ddbf6f3-fac0-4d74-bdcc-821d7778f0d4","block_type":"box","text":"The table below describes the guiding principles used to determine eligibility.","page_number":52,"box":{"x":62,"y":860,"width":568,"height":11}},{"id":"f3704c49-87ea-4f7a-8a1a-88efadb0384b","block_type":"box","text":"An operations company must pass the Baseline and Controversies criteria.","page_number":52,"box":{"x":71,"y":889,"width":539,"height":10}},{"id":"6102b5bc-76ad-49e7-953e-4a51833137a3","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":53,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"5d224ad9-03a0-44d9-89ac-a85270c0ddca","block_type":"box","text":"53","page_number":53,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"df026c11-be48-4bb7-9cf7-993aab4f4492","block_type":"box","text":"Aviva Investors: Confidential","page_number":53,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"a3dda01c-ad25-4b88-a155-ee69a3c6ece0","block_type":"box","text":"Baseline","page_number":53,"box":{"x":72,"y":102,"width":56,"height":8}},{"id":"b566241c-39bd-4cc6-8f59-6acb77d1846b","block_type":"box","text":"The company maintains a baseline of high social standards and supports the","page_number":53,"box":{"x":202,"y":65,"width":545,"height":10}},{"id":"5534c4df-8e31-424e-99dd-5357c54657c4","block_type":"box","text":"transition to a carbon neutral future. Specifically, the company must:","page_number":53,"box":{"x":202,"y":77,"width":453,"height":10}},{"id":"291811f5-5cdc-4afb-9b2c-931d4adeccef","block_type":"box","text":"","page_number":53,"box":{"x":233,"y":104,"width":4,"height":3}},{"id":"127bb545-4097-4ef3-851e-e478bce5538e","block_type":"box","text":"Have targets for carbon reduction","page_number":53,"box":{"x":263,"y":102,"width":222,"height":10}},{"id":"28176729-b2e3-44d3-9116-5ad745c3081e","block_type":"box","text":"","page_number":53,"box":{"x":233,"y":117,"width":4,"height":3}},{"id":"49ff6ea4-17e1-46e9-8ad1-79311a466407","block_type":"box","text":"Have a human rights policy","page_number":53,"box":{"x":263,"y":114,"width":181,"height":10}},{"id":"451c6442-18da-4128-808a-071d98270ba2","block_type":"box","text":"","page_number":53,"box":{"x":233,"y":129,"width":4,"height":3}},{"id":"7231a6f0-e861-494c-8cc2-f273da1cf3cd","block_type":"box","text":"Comply with the International Labour Organisation’s (ILO) standards","page_number":53,"box":{"x":262,"y":126,"width":456,"height":11}},{"id":"83ccfa84-9e97-4af4-b5c9-b613799ce433","block_type":"box","text":"","page_number":53,"box":{"x":233,"y":141,"width":4,"height":3}},{"id":"762ccc70-f7df-461c-8f57-b0b9a9dfa52f","block_type":"box","text":"Have programs to facilitate workforce diversity","page_number":53,"box":{"x":263,"y":139,"width":308,"height":10}},{"id":"57622b69-5330-43fc-bfd9-8bacaec9be4f","block_type":"box","text":"Controversies","page_number":53,"box":{"x":71,"y":213,"width":92,"height":8}},{"id":"e5b30d6f-4e11-4239-8ec6-0b54f38fd389","block_type":"box","text":"The company demonstrates effective mitigation and remediation of potentially","page_number":53,"box":{"x":202,"y":176,"width":546,"height":10}},{"id":"dc67fe25-f3f6-4d38-ba25-4d88f080f833","block_type":"box","text":"harmful activities.","page_number":53,"box":{"x":202,"y":189,"width":115,"height":8}},{"id":"a83faa3e-3c95-4fdd-9869-01ed2bf41d7b","block_type":"box","text":"OR","page_number":53,"box":{"x":202,"y":213,"width":21,"height":8}},{"id":"236b2300-9b26-4058-9791-50da534415b9","block_type":"box","text":"The company demonstrates robust policies and procedures that prevent the","page_number":53,"box":{"x":202,"y":238,"width":545,"height":10}},{"id":"f518e45b-0142-4c79-a700-171d7ea1fba0","block_type":"box","text":"occurrence of harmful controversies.","page_number":53,"box":{"x":202,"y":250,"width":243,"height":8}},{"id":"998e4ed1-1550-4b2b-8f98-c686643bfd17","block_type":"box","text":"An operations company must also pass the criteria for either Climate, Earth or People.","page_number":53,"box":{"x":71,"y":277,"width":619,"height":11}},{"id":"e8a6ef85-fc4c-4e44-ba0c-b6300a784a45","block_type":"box","text":"Climate","page_number":53,"box":{"x":71,"y":348,"width":50,"height":8}},{"id":"40fd27aa-9a39-493d-bd11-ab11990f1e2a","block_type":"box","text":"The company has robust targets to align its emissions to a low carbon future and","page_number":53,"box":{"x":202,"y":305,"width":545,"height":10}},{"id":"7a3c1f1d-9bea-4edf-9287-bc7d8fb56e33","block_type":"box","text":"is demonstrating its commitment through its strategy, reporting, and staying on","page_number":53,"box":{"x":202,"y":317,"width":545,"height":10}},{"id":"1bdb4f43-3849-4234-865b-047e9f656594","block_type":"box","text":"track with its targets.","page_number":53,"box":{"x":202,"y":330,"width":136,"height":10}},{"id":"e31382a2-bacb-4d67-bbe9-96bed365b280","block_type":"box","text":"OR","page_number":53,"box":{"x":202,"y":354,"width":21,"height":8}},{"id":"1ed6d72b-0051-4ce8-a4b3-2ec8d0338c75","block_type":"box","text":"The company has a net zero carbon footprint and maintains robust standards for","page_number":53,"box":{"x":202,"y":379,"width":546,"height":10}},{"id":"430b7651-9f6f-4e47-a2c2-5ba022afc474","block_type":"box","text":"carbon emissions management at the operational and supply chain levels.","page_number":53,"box":{"x":202,"y":391,"width":494,"height":10}},{"id":"657a129d-8398-4d40-8447-69ed4cd4dcdb","block_type":"box","text":"Earth","page_number":53,"box":{"x":72,"y":472,"width":34,"height":7}},{"id":"ad519f5c-0870-4d7e-9c5c-c0ea089b5ef1","block_type":"box","text":"The company has policies and procedures in place to effectively monitor and","page_number":53,"box":{"x":202,"y":428,"width":545,"height":10}},{"id":"5a78a141-04a2-4bce-a0dd-0b4d1d1368a5","block_type":"box","text":"mitigate its impacts on the environment and is taking steps to align its","page_number":53,"box":{"x":202,"y":441,"width":545,"height":10}},{"id":"d860a7c8-a5b5-4b17-896e-1d3735e25ba0","block_type":"box","text":"environmental footprint to a nature positive future.","page_number":53,"box":{"x":202,"y":453,"width":331,"height":10}},{"id":"071606a6-959f-4e08-aa5c-244d2023365e","block_type":"box","text":"OR","page_number":53,"box":{"x":202,"y":478,"width":21,"height":8}},{"id":"a36c05d3-30fe-4f9b-9dc3-378caa46d786","block_type":"box","text":"The company does not have an adverse impact on the environment and maintains","page_number":53,"box":{"x":202,"y":502,"width":545,"height":10}},{"id":"06e33207-7691-4be5-beaf-a33835813b39","block_type":"box","text":"the robust standards for managing its environmental footprint.","page_number":53,"box":{"x":202,"y":514,"width":410,"height":11}},{"id":"0352bb85-e0de-484e-b1e9-911e102cc1b1","block_type":"box","text":"People","page_number":53,"box":{"x":72,"y":595,"width":45,"height":10}},{"id":"2075b1be-cf53-41a6-b678-06f05b8d8c6f","block_type":"box","text":"The company demonstrates a commitment to achieving high standards of","page_number":53,"box":{"x":202,"y":552,"width":546,"height":10}},{"id":"c24b0644-32dc-4130-8ac9-e2cf7f2c2559","block_type":"box","text":"corporate responsibility, human capital management, and workforce diversity and","page_number":53,"box":{"x":202,"y":564,"width":545,"height":10}},{"id":"a4ba1382-aa8f-4d99-8098-8c3d89c6d715","block_type":"box","text":"is taking steps to improve processes and deliver effective remediation of issues.","page_number":53,"box":{"x":202,"y":576,"width":532,"height":11}},{"id":"576236e4-b251-4834-8ac1-fe3e960f92c3","block_type":"box","text":"OR","page_number":53,"box":{"x":202,"y":601,"width":21,"height":8}},{"id":"3965d17f-1c8b-4f4e-add8-ff4dfa8d1eb3","block_type":"box","text":"The company demonstrates robust standards of corporate responsibility, human","page_number":53,"box":{"x":202,"y":626,"width":545,"height":10}},{"id":"13591e6b-b1bf-4383-8739-39a9ddcf1240","block_type":"box","text":"capital management, and workforce diversity.","page_number":53,"box":{"x":202,"y":638,"width":302,"height":10}},{"id":"15811e5b-709d-47ff-ab4e-8d76e9fc24cf","block_type":"box","text":"To meet the operations criteria, there must be no evidence available to the Investment Manager that suggests the","page_number":53,"box":{"x":62,"y":669,"width":861,"height":11}},{"id":"067c78df-2ad0-44a6-b370-e968369ad66c","block_type":"box","text":"company is subject to a material controversy on environmental, human rights or labour-related issues. However, in","page_number":53,"box":{"x":62,"y":683,"width":860,"height":11}},{"id":"6962c8b8-4006-4c44-94fb-4be568b58286","block_type":"box","text":"the event that such controversies are identified, that issuing company may still be eligible for investment if the","page_number":53,"box":{"x":62,"y":697,"width":861,"height":11}},{"id":"72492255-dea7-49d4-82d0-8bfb20a5ccd8","block_type":"box","text":"Investment Manager identifies - through its deep dive assessment - credible evidence that such controversies are not","page_number":53,"box":{"x":63,"y":710,"width":860,"height":12}},{"id":"7b135497-d9fc-406a-901c-4cdda52b49c1","block_type":"box","text":"material and/or are being resolved or mitigated.","page_number":53,"box":{"x":62,"y":724,"width":350,"height":11}},{"id":"fd2b8165-44f7-4440-959f-c203fb625368","block_type":"box","text":"Monitoring","page_number":53,"box":{"x":63,"y":763,"width":84,"height":11}},{"id":"cf51401c-f8c3-4910-b351-7180aef2b687","block_type":"box","text":"Once an investment is made, it is monitored by the Investment Manager to ensure that it continues to meet the","page_number":53,"box":{"x":62,"y":783,"width":861,"height":11}},{"id":"fbc40545-199c-41a0-bcd1-30120bff9480","block_type":"box","text":"requirements of the investment framework. If the available data indicates that this is no longer the case, the Investment","page_number":53,"box":{"x":63,"y":796,"width":860,"height":12}},{"id":"be80d284-2147-4da7-9b15-1406dd1ca358","block_type":"box","text":"Manager will conduct a qualitative review of the relevant company. If the Investment Manager subsequently","page_number":53,"box":{"x":63,"y":810,"width":860,"height":11}},{"id":"3ed07ba4-0685-49fd-8e06-e382cd5a81ba","block_type":"box","text":"determines that the company no longer meets the requirements of the investment framework, it will be disposed of","page_number":53,"box":{"x":62,"y":824,"width":861,"height":11}},{"id":"73dcf5f0-8179-4e12-85c0-45fa46274c28","block_type":"box","text":"as soon as reasonably practicable having regard to the interests of investors in the Sub-Fund.","page_number":53,"box":{"x":62,"y":837,"width":693,"height":12}},{"id":"7292b0a0-61be-440b-b06b-a7f018b2d590","block_type":"box","text":"Engagement","page_number":53,"box":{"x":63,"y":877,"width":99,"height":11}},{"id":"5136619a-0a27-47c1-84d6-6142707fd360","block_type":"box","text":"The Investment Manager engages with investee companies on thematic issues with the aim of positively influencing","page_number":53,"box":{"x":62,"y":896,"width":860,"height":11}},{"id":"c3f57d81-3038-40a0-837b-2d9a8ae15b2a","block_type":"box","text":"sustainable behaviours. Thematic engagement programmes will target a subset of companies within the Sub-Fund,","page_number":53,"box":{"x":62,"y":910,"width":860,"height":11}},{"id":"b344515b-7d65-48df-839b-e47fc2f6a6c7","block_type":"box","text":"with specific engagement asks for companies to pursue progress on key themes and areas captured by the","page_number":53,"box":{"x":62,"y":924,"width":861,"height":11}},{"id":"89600184-339d-4b41-8421-2be8be884aad","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":54,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"4630f2f9-5f6a-4094-a747-0918e730019c","block_type":"box","text":"54","page_number":54,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"296de9e9-2c33-4e48-8e17-93839e3229b8","block_type":"box","text":"Aviva Investors: Confidential","page_number":54,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d6405842-65c5-4a15-bdfe-80a59fe5753e","block_type":"box","text":"investment framework. Engagement may also be conducted if, in the Investment Manager’s view, new data emerges","page_number":54,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"73f7bbc2-9b00-4af3-81dc-01ced303d49c","block_type":"box","text":"that suggests an investee company’s practices may be falling short of expectations and/or potentially no longer meet","page_number":54,"box":{"x":62,"y":66,"width":861,"height":11}},{"id":"eb7dcf86-15e8-4995-aece-af0eaa0c23b8","block_type":"box","text":"the requirements of the investment framework.","page_number":54,"box":{"x":62,"y":80,"width":344,"height":11}},{"id":"a5dfd414-9f98-4f22-aa7e-24b81fac7f82","block_type":"box","text":"Measurement and KPIs","page_number":54,"box":{"x":63,"y":119,"width":182,"height":9}},{"id":"89c7b026-5cba-42f6-8d3e-78ff5627eeb0","block_type":"box","text":"On an ongoing basis, the Investment Manager will monitor the Sub-Fund’s holdings against a range of key","page_number":54,"box":{"x":62,"y":139,"width":861,"height":11}},{"id":"782158db-0931-4029-a00f-babbcbfbf963","block_type":"box","text":"performance indicators to ensure that they remain compliant with the investment framework. To allow assessment of","page_number":54,"box":{"x":62,"y":152,"width":861,"height":11}},{"id":"284a2559-52fd-43f0-b80e-ff525cc184b5","block_type":"box","text":"the Sub-Fund’s minimum stewardship allocation, performance against a range of key indicators will be reported to","page_number":54,"box":{"x":62,"y":166,"width":861,"height":11}},{"id":"ad6b9845-25ca-49e2-b493-e2fc7efc7cb2","block_type":"box","text":"investors annually, describing the relevant methodologies used and highlighting any material data considerations.","page_number":54,"box":{"x":62,"y":180,"width":860,"height":11}},{"id":"35058359-917b-42c5-8981-0bae3811c819","block_type":"box","text":"This annual report will include:","page_number":54,"box":{"x":62,"y":193,"width":224,"height":11}},{"id":"a109ed82-900d-4b56-a067-836dade3b64c","block_type":"box","text":"Fund*","page_number":54,"box":{"x":397,"y":221,"width":42,"height":8}},{"id":"b31c793a-716c-4a99-b18e-01a6f4688613","block_type":"box","text":"Data provided for Volatility","page_number":54,"box":{"x":560,"y":221,"width":191,"height":10}},{"id":"6ae8e516-fa53-491d-a133-f8f2e2adcae5","block_type":"box","text":"Index (comparator)?","page_number":54,"box":{"x":583,"y":233,"width":144,"height":10}},{"id":"da4841f5-a856-4a3d-a2b8-089137501eb3","block_type":"box","text":"Products and Services","page_number":54,"box":{"x":72,"y":246,"width":150,"height":8}},{"id":"fa6955c6-e9c0-4cac-b7ca-dd1a9f933007","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":246,"width":12,"height":8}},{"id":"3558a83f-6782-4734-a292-9ce09289a3a0","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":246,"width":26,"height":8}},{"id":"abcb360e-3d44-4664-9a27-4177ea63c5c1","block_type":"box","text":"Operations","page_number":54,"box":{"x":71,"y":259,"width":73,"height":10}},{"id":"4d683dfd-4ae0-438c-b61f-c8a8db9481a2","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":259,"width":12,"height":8}},{"id":"a0847b83-c5eb-4d46-9667-d920574eb084","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":259,"width":26,"height":8}},{"id":"d39c687a-dfc4-4ac5-a04a-c141b3f330af","block_type":"box","text":"Climate:","page_number":54,"box":{"x":72,"y":272,"width":57,"height":8}},{"id":"21812591-356e-44b6-8f28-97be5e892cfb","block_type":"box","text":"SBTi approved emission targets","page_number":54,"box":{"x":72,"y":285,"width":213,"height":10}},{"id":"85671f97-7d09-4d28-9b16-4d829fa1419f","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":285,"width":12,"height":8}},{"id":"29e4f1c7-8a38-495e-b247-89f5a7485380","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":285,"width":26,"height":8}},{"id":"5077868d-8fef-4ce0-9b23-ebdbfe4d0ede","block_type":"box","text":"SBTi committed emission targets","page_number":54,"box":{"x":72,"y":297,"width":218,"height":11}},{"id":"5c66077f-ead2-4b66-b149-9fc9ff9a9134","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":298,"width":12,"height":8}},{"id":"ef4bd69c-980a-4d5e-a04e-6fea724ab873","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":298,"width":26,"height":7}},{"id":"1873c0cb-3c11-4b3e-9382-1a8ac6302c3a","block_type":"box","text":"CDP Score A-C","page_number":54,"box":{"x":72,"y":310,"width":104,"height":9}},{"id":"e24d0b33-e7e0-4359-862e-53a5f7930cf0","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":311,"width":12,"height":8}},{"id":"5aff3a85-871b-4578-9452-71fc5654cb28","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":311,"width":26,"height":7}},{"id":"039b170e-4753-4f8b-baa3-325b55fd8ac0","block_type":"box","text":"CDP Score D-F","page_number":54,"box":{"x":72,"y":323,"width":104,"height":8}},{"id":"39d95682-8b40-4565-9ce5-d8990619b4f7","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":324,"width":12,"height":7}},{"id":"6dff3523-7aa9-4fc4-8de3-6d5d7ea5e924","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":323,"width":26,"height":8}},{"id":"668156bc-136d-40ec-bfb9-765ae9d6c3da","block_type":"box","text":"No CDP Score","page_number":54,"box":{"x":72,"y":336,"width":98,"height":8}},{"id":"3f987247-cece-4c54-863f-a5b33cba756f","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":336,"width":12,"height":8}},{"id":"fd9a2653-18b7-4e71-b583-7c92ec89bb96","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":336,"width":26,"height":8}},{"id":"19d7172f-63fc-4269-affb-db392906b4db","block_type":"box","text":"Earth:","page_number":54,"box":{"x":72,"y":349,"width":41,"height":8}},{"id":"17e657d0-7747-445b-9ac8-1ae90356ded2","block_type":"box","text":"Biodiversity policy","page_number":54,"box":{"x":72,"y":362,"width":119,"height":10}},{"id":"b252195c-c88e-4d83-8fba-353bccaa15a7","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":362,"width":12,"height":8}},{"id":"93ec07a4-e28f-4270-871e-df8fcf3ee090","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":362,"width":26,"height":8}},{"id":"dd4bd3e4-adb5-4cef-98cf-0745679be146","block_type":"box","text":"Deforestation policy","page_number":54,"box":{"x":72,"y":375,"width":132,"height":10}},{"id":"9f6a3aa7-a8ce-494b-ac6c-c9dacc920bb6","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":375,"width":12,"height":8}},{"id":"72fe97a0-ff83-4d47-934b-ec6ba6ff0254","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":375,"width":26,"height":8}},{"id":"7943cd65-6e11-422b-897f-f5158e9e6c43","block_type":"box","text":"Number of companies with","page_number":54,"box":{"x":72,"y":388,"width":217,"height":10}},{"id":"18d8fc15-fb86-4b1d-9bd3-ee09c5a2c3c6","block_type":"box","text":"severe environmental","page_number":54,"box":{"x":71,"y":400,"width":218,"height":8}},{"id":"d284f6f2-aed2-45f2-b471-9560fd41311d","block_type":"box","text":"controversies×","page_number":54,"box":{"x":71,"y":412,"width":98,"height":8}},{"id":"63f45b42-c024-41c7-8db0-34e79d0255c1","block_type":"box","text":"#","page_number":54,"box":{"x":414,"y":388,"width":7,"height":8}},{"id":"89ee5afc-a440-445b-b16a-0eaef92c857f","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":388,"width":26,"height":8}},{"id":"b37ffac1-ba14-45ac-9f9c-c475e4910a00","block_type":"box","text":"People:","page_number":54,"box":{"x":72,"y":425,"width":52,"height":10}},{"id":"6752db3d-b1fd-4184-ae25-17eb03f3ab51","block_type":"box","text":"Human rights due diligence","page_number":54,"box":{"x":72,"y":438,"width":182,"height":10}},{"id":"8e35d5ac-e6e4-439e-bed0-9a2041b04ba6","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":438,"width":12,"height":8}},{"id":"94f99b2e-0960-4f23-8a7a-33f4d44704b9","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":438,"width":26,"height":8}},{"id":"04dd897e-42a2-404b-9bf1-648e08baaa68","block_type":"box","text":"Board gender diversity","page_number":54,"box":{"x":72,"y":451,"width":150,"height":10}},{"id":"ceabc5c3-cf02-4eb5-820c-36aaefe132b9","block_type":"box","text":"%","page_number":54,"box":{"x":412,"y":451,"width":12,"height":8}},{"id":"bf5ea26d-fa17-44eb-890c-0f98f7262d17","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":451,"width":26,"height":8}},{"id":"5308974f-ebe8-4fcb-8e56-36ae466f2ae0","block_type":"box","text":"Number of companies with","page_number":54,"box":{"x":72,"y":464,"width":217,"height":10}},{"id":"bfef6bff-ee24-41a3-9fa8-4efeaac93745","block_type":"box","text":"severe human rights","page_number":54,"box":{"x":71,"y":476,"width":219,"height":10}},{"id":"28fae0ee-da3e-4554-af33-b3e73593443f","block_type":"box","text":"controversies×","page_number":54,"box":{"x":71,"y":489,"width":98,"height":7}},{"id":"8f5c9451-81c5-4e2e-bb83-cc51b4ccdc5d","block_type":"box","text":"#","page_number":54,"box":{"x":414,"y":464,"width":7,"height":8}},{"id":"9e7b7c90-66d9-4f1c-8d18-0bdccb95c5f7","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":464,"width":26,"height":8}},{"id":"04f9e94c-a142-4b91-8c27-fd0071ad2f0e","block_type":"box","text":"Number of companies with","page_number":54,"box":{"x":72,"y":501,"width":217,"height":10}},{"id":"d84191ed-03c2-4413-a0e8-99fc8d214e05","block_type":"box","text":"severe labour rights","page_number":54,"box":{"x":71,"y":514,"width":219,"height":10}},{"id":"e3bed1a4-b5eb-4729-96a3-5fdddb7666fb","block_type":"box","text":"controversies×","page_number":54,"box":{"x":71,"y":526,"width":98,"height":8}},{"id":"40056b02-4aa8-486a-8471-758d23e9eeb7","block_type":"box","text":"#","page_number":54,"box":{"x":414,"y":502,"width":7,"height":7}},{"id":"3d8d8d54-47cb-456a-aa7b-300cce2eb4fd","block_type":"box","text":"Yes","page_number":54,"box":{"x":642,"y":501,"width":26,"height":8}},{"id":"296578d3-e325-497d-9a67-e8afd533f5e4","block_type":"box","text":"Source: MSCI, Aladdin, Aviva Investors, CDP Scores, SBTi and CBI.","page_number":54,"box":{"x":62,"y":539,"width":407,"height":8}},{"id":"c93caa6d-2d93-429a-9dab-c21b097ac6d4","block_type":"box","text":"* Percentage of the Portfolio, based on market value.","page_number":54,"box":{"x":62,"y":550,"width":314,"height":9}},{"id":"477b173d-c021-4bb7-b038-8b8e266e4c7e","block_type":"box","text":"× MSCI data tool indicates a “red” or “amber” flag warning of a “very severe” or a “severe” controversy. Red flags are automatically excluded and","page_number":54,"box":{"x":62,"y":560,"width":861,"height":10}},{"id":"ec481e76-e3a7-446f-8f5a-75ac82d1b266","block_type":"box","text":"therefore are not reflected in the KPI; this KPI shows amber flags (if any) in the portfolio. For an “amber” flagged company to be included in the","page_number":54,"box":{"x":62,"y":571,"width":861,"height":10}},{"id":"634c9d5d-61e0-4d13-8776-26b76665da03","block_type":"box","text":"Fund’s minimum stewardship allocation, credible evidence available to the Investment Manager that MSCI’s methodology has not been applied","page_number":54,"box":{"x":63,"y":582,"width":860,"height":9}},{"id":"5c5f3a8a-6812-49e8-9b77-ff4eeb5f7dd0","block_type":"box","text":"consistently and the company should not, in the Investment Manager’s view, be flagged.","page_number":54,"box":{"x":62,"y":593,"width":522,"height":9}},{"id":"824288d1-0ca2-41de-8db4-14bca9c60a83","block_type":"box","text":"The annual report will also update investors on the progress of the Investment Manager’s engagement activities.","page_number":54,"box":{"x":62,"y":618,"width":832,"height":12}},{"id":"5db57331-5517-44c7-aaf6-f90f467c4a23","block_type":"box","text":"Reporting will use data outputs from MSCI under the MSCI SDG Alignment Methodology. As the MSCI methodology","page_number":54,"box":{"x":63,"y":638,"width":860,"height":11}},{"id":"c41231e8-69b8-4374-92c6-06e2f24d226e","block_type":"box","text":"is only one of several information sources used by the Investment Manager pursuant to the investment framework,","page_number":54,"box":{"x":62,"y":652,"width":860,"height":11}},{"id":"6cd2bbe0-9db6-460a-b462-151cbf7f53f5","block_type":"box","text":"the Investment Manager does not base their investment selection on this methodology. However, the MSCI","page_number":54,"box":{"x":62,"y":665,"width":860,"height":11}},{"id":"7ee14fdd-91ff-47b7-aa27-10c7f4c04ebd","block_type":"box","text":"methodology is considered currently aligned with the Investment Manager’s investment philosophy and provides a","page_number":54,"box":{"x":62,"y":679,"width":861,"height":11}},{"id":"c941227d-1d61-4dc7-a60a-6cb2e705bcaf","block_type":"box","text":"holistic view on overall alignment to each of the SDGs. As the Investment Manager has developed its proprietary","page_number":54,"box":{"x":62,"y":692,"width":861,"height":12}},{"id":"1a4bbf40-c42f-419d-aabc-9eb86a14112b","block_type":"box","text":"investment framework to encapsulate the aims of the SDGs, it is therefore appropriate as a comparator to give market","page_number":54,"box":{"x":62,"y":706,"width":861,"height":11}},{"id":"31784839-db58-499d-8d72-570465f70077","block_type":"box","text":"context and a third-party view of SDG alignment, purely to assist investors in assessing the characteristics of the Sub","page_number":54,"box":{"x":62,"y":720,"width":861,"height":11}},{"id":"653dfc27-453d-45df-bef1-6316648caa66","block_type":"box","text":"Fund.","page_number":54,"box":{"x":63,"y":734,"width":40,"height":8}},{"id":"26f358c0-8515-4d31-b4de-c58e28dd796b","block_type":"box","text":"Additional Information","page_number":54,"box":{"x":62,"y":773,"width":177,"height":9}},{"id":"720139b8-ff23-42f6-8e8c-09bf39675353","block_type":"box","text":"Investment Manager","page_number":54,"box":{"x":118,"y":799,"width":151,"height":11}},{"id":"5b0348c0-5d5a-481d-bc33-b930889652e1","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":54,"box":{"x":352,"y":799,"width":294,"height":9}},{"id":"b771aeed-769b-43c2-bc49-dd07011598ce","block_type":"box","text":"Type of Units","page_number":54,"box":{"x":116,"y":825,"width":98,"height":11}},{"id":"9a7c9dd0-0809-4b80-9365-daa65599d1ca","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":54,"box":{"x":353,"y":825,"width":292,"height":11}},{"id":"33b9e3dd-95be-4168-8238-a555ccd76752","block_type":"box","text":"Insured Pension Accumulation Units","page_number":54,"box":{"x":354,"y":851,"width":267,"height":9}},{"id":"5435cb10-51ce-4f7e-8ce0-a80bdf4b1ece","block_type":"box","text":"UK Institutional Accumulation Units","page_number":54,"box":{"x":353,"y":877,"width":260,"height":9}},{"id":"a50abbf7-d2e1-44ee-85b7-c615e510cef4","block_type":"box","text":"UK Feeder Fund Accumulation Units","page_number":54,"box":{"x":353,"y":904,"width":271,"height":8}},{"id":"a8cf0811-fe21-47d1-a49b-bf66f5943449","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":55,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"e90bcfe5-c804-4553-9c31-fe47a19edb4a","block_type":"box","text":"55","page_number":55,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"1cae7099-b0a2-471c-867d-097748f89969","block_type":"box","text":"Aviva Investors: Confidential","page_number":55,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"7ec192fe-a386-414d-9434-b5edfe2aac55","block_type":"box","text":"Dealing Day","page_number":55,"box":{"x":118,"y":59,"width":89,"height":11}},{"id":"1995a2df-16e5-4414-924b-04992c66f0c1","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":55,"box":{"x":354,"y":59,"width":393,"height":11}},{"id":"9a21adcd-d73c-415f-8741-5125836bbafa","block_type":"box","text":"Deal Cut-Off Point","page_number":55,"box":{"x":118,"y":85,"width":134,"height":9}},{"id":"55ef69e2-6359-4527-8d70-69ddf8a85934","block_type":"box","text":"12.00 noon","page_number":55,"box":{"x":354,"y":86,"width":81,"height":8}},{"id":"203edb54-766d-42d2-911b-d018c4a03565","block_type":"box","text":"Valuation Point","page_number":55,"box":{"x":117,"y":111,"width":112,"height":9}},{"id":"9bdd7a52-d29a-4f75-8940-e91b8810fb30","block_type":"box","text":"12.00 noon","page_number":55,"box":{"x":354,"y":112,"width":81,"height":8}},{"id":"1cbdb298-a082-4e01-a466-8068e2893951","block_type":"box","text":"*Minimum Investment","page_number":55,"box":{"x":117,"y":138,"width":172,"height":8}},{"id":"6236e071-f262-4b77-935c-a94125215d5b","block_type":"box","text":"UK Corporate Income","page_number":55,"box":{"x":118,"y":163,"width":160,"height":12}},{"id":"ec7af1e1-7a39-4e6c-a756-44c545c6c31c","block_type":"box","text":"Distribution Units, Insured","page_number":55,"box":{"x":118,"y":177,"width":189,"height":10}},{"id":"fb42dc47-045c-43b2-97c8-46150f8be20a","block_type":"box","text":"Pension Accumulation Units,","page_number":55,"box":{"x":118,"y":191,"width":211,"height":10}},{"id":"c5faf5ab-4303-476d-9f16-e78ef4c78a4e","block_type":"box","text":"UK Institutional","page_number":55,"box":{"x":118,"y":205,"width":110,"height":8}},{"id":"8284690b-e99a-4f20-b92e-9b531f83eced","block_type":"box","text":"Accumulation Units, UK","page_number":55,"box":{"x":116,"y":218,"width":176,"height":11}},{"id":"2e3813a7-6031-4864-88a5-7bad6858a0de","block_type":"box","text":"Feeder Fund Accumulation","page_number":55,"box":{"x":118,"y":232,"width":199,"height":9}},{"id":"cea8110e-fe87-4e12-9054-89d01ec910ec","block_type":"box","text":"Units","page_number":55,"box":{"x":118,"y":246,"width":36,"height":8}},{"id":"40fac901-eb31-43de-aef5-ce29c0f2901b","block_type":"box","text":"No minimum","page_number":55,"box":{"x":353,"y":164,"width":92,"height":8}},{"id":"e10fa7d1-955f-44d1-bdde-65234a54dda4","block_type":"box","text":"Minimum withdrawal","page_number":55,"box":{"x":117,"y":272,"width":150,"height":8}},{"id":"c86c02f7-a7d8-41f0-8a17-bff4ae47340f","block_type":"box","text":"No minimum","page_number":55,"box":{"x":353,"y":272,"width":92,"height":8}},{"id":"b9a7ed6b-e691-4ec6-9228-f441a5b89e33","block_type":"box","text":"Tax Criteria for investment","page_number":55,"box":{"x":116,"y":298,"width":213,"height":9}},{"id":"fd100b64-93ee-484d-bb4a-bd0448c15511","block_type":"box","text":"UK Corporate Income","page_number":55,"box":{"x":118,"y":324,"width":160,"height":11}},{"id":"c02a8b7d-4764-4ae7-ad9b-0117cb93d99d","block_type":"box","text":"Distribution Units","page_number":55,"box":{"x":118,"y":338,"width":124,"height":8}},{"id":"851b4c7f-8d07-4941-937e-602f8d9a2451","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":55,"box":{"x":352,"y":324,"width":404,"height":11}},{"id":"6ccb7e43-3437-4a43-8ace-fdac6d0706c4","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":55,"box":{"x":353,"y":337,"width":404,"height":12}},{"id":"257aca21-f245-418e-9ac5-6a0b41c47c45","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":55,"box":{"x":352,"y":351,"width":405,"height":11}},{"id":"412d3699-621a-461f-9b49-e7d479039b1a","block_type":"box","text":"linked pension business contracts.","page_number":55,"box":{"x":353,"y":365,"width":253,"height":11}},{"id":"262e6b72-02d9-4cdf-93e8-4af60ceafcd9","block_type":"box","text":"Insured Pension Income","page_number":55,"box":{"x":118,"y":391,"width":179,"height":9}},{"id":"e51c9bcb-340b-48a7-ad7e-c70f1f6d6b87","block_type":"box","text":"Distribution Units","page_number":55,"box":{"x":118,"y":405,"width":124,"height":8}},{"id":"4a7f247a-14b9-4eb8-b587-54070e4b7a2e","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":55,"box":{"x":352,"y":391,"width":404,"height":11}},{"id":"0c416df6-e269-4337-a9ab-361b9beb6a4a","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":55,"box":{"x":353,"y":405,"width":404,"height":11}},{"id":"6b4547d6-c243-4a89-a56d-e071636f1e72","block_type":"box","text":"back exclusively its unit linked pension business","page_number":55,"box":{"x":353,"y":418,"width":404,"height":11}},{"id":"ee4dae6c-a9b9-4328-8a16-3e05c4a9dded","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":55,"box":{"x":353,"y":432,"width":404,"height":11}},{"id":"c8aee2d3-035d-4184-beeb-c884548b1cac","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":55,"box":{"x":353,"y":446,"width":307,"height":11}},{"id":"3620747a-91f0-40c4-90ee-32dd1ba55571","block_type":"box","text":"UK Institutional","page_number":55,"box":{"x":118,"y":471,"width":110,"height":9}},{"id":"e2205930-21cb-4b66-a66a-cf705b4cdd7b","block_type":"box","text":"Accumulation Units","page_number":55,"box":{"x":116,"y":485,"width":143,"height":9}},{"id":"5f5c5235-4f46-407b-af44-0cf9cf34e4b1","block_type":"box","text":"UK Feeder Fund","page_number":55,"box":{"x":118,"y":524,"width":121,"height":9}},{"id":"7ed23501-03c9-46b3-aad8-267d89cf7d09","block_type":"box","text":"Accumulation Units","page_number":55,"box":{"x":116,"y":538,"width":143,"height":9}},{"id":"3f9f3c2c-a3e2-4823-93d7-06b49b69e2d4","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":55,"box":{"x":352,"y":471,"width":404,"height":11}},{"id":"88c2856f-56ea-4d9f-8a84-99fda719cd3a","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":55,"box":{"x":353,"y":485,"width":403,"height":11}},{"id":"d6302864-32d2-4031-956f-5359acbc5e6a","block_type":"box","text":"tax treaties.","page_number":55,"box":{"x":352,"y":499,"width":85,"height":8}},{"id":"b20f7732-e409-4bbb-a9ce-faf773f4458f","block_type":"box","text":"A sub-fund of a UK authorised Non-UCITS Retail","page_number":55,"box":{"x":352,"y":518,"width":404,"height":9}},{"id":"df54308a-6a89-4de3-98a8-962d14a5bbda","block_type":"box","text":"Scheme","page_number":55,"box":{"x":353,"y":532,"width":60,"height":9}},{"id":"f6744924-4da4-48c5-8698-5bee5fd73bb9","block_type":"box","text":"Additional Criteria for","page_number":55,"box":{"x":117,"y":583,"width":217,"height":9}},{"id":"c5cf05a3-9dea-4dd1-a27b-67733573813f","block_type":"box","text":"Investment – UK Feeder","page_number":55,"box":{"x":117,"y":597,"width":217,"height":8}},{"id":"777234a1-4352-420d-a1f2-a5ae758c0aa0","block_type":"box","text":"Fund Accumulation Units","page_number":55,"box":{"x":118,"y":610,"width":201,"height":9}},{"id":"7ac74522-20aa-4084-b351-6e8b186d10c0","block_type":"box","text":"**Current Charges:","page_number":55,"box":{"x":117,"y":649,"width":149,"height":11}},{"id":"3c902f09-bff3-4d06-9c76-794cc48730d2","block_type":"box","text":"Units are only available to collective investment","page_number":55,"box":{"x":353,"y":583,"width":404,"height":11}},{"id":"58f41f91-13c6-4479-a78e-945d258f5564","block_type":"box","text":"schemes operated by the ACS Manager and","page_number":55,"box":{"x":353,"y":596,"width":403,"height":12}},{"id":"79d763bb-3999-4fcd-8e51-6d38de14dc21","block_type":"box","text":"established as a feeder scheme dedicated to Units in","page_number":55,"box":{"x":353,"y":610,"width":403,"height":9}},{"id":"460f7649-d9dd-481f-9146-555e53db67cc","block_type":"box","text":"the Sub-Fund","page_number":55,"box":{"x":352,"y":624,"width":101,"height":9}},{"id":"971da23f-f463-4eaa-b975-3369b4cf3cac","block_type":"box","text":"UK Corporate Income","page_number":55,"box":{"x":118,"y":675,"width":160,"height":11}},{"id":"adcb1df3-8de5-42dd-a5a1-a989b72e5c5e","block_type":"box","text":"Distribution Units, Insured","page_number":55,"box":{"x":118,"y":689,"width":189,"height":10}},{"id":"a6866c09-9e39-46b3-b7f4-ce7418c80054","block_type":"box","text":"Pension Accumulation Units","page_number":55,"box":{"x":118,"y":703,"width":207,"height":9}},{"id":"6aa4d445-1821-42a8-b3eb-b711a74bb407","block_type":"box","text":",","page_number":55,"box":{"x":327,"y":710,"width":2,"height":3}},{"id":"65ee2d86-b982-412c-9581-760535677905","block_type":"box","text":"UK Institutional","page_number":55,"box":{"x":118,"y":716,"width":110,"height":9}},{"id":"b580a87d-4c55-4802-9b03-4fdaa60f8966","block_type":"box","text":"Accumulation Units","page_number":55,"box":{"x":116,"y":730,"width":143,"height":9}},{"id":"6e3ace45-199c-4d45-88a6-94e832a9badd","block_type":"box","text":"UK Feeder Fund","page_number":55,"box":{"x":118,"y":769,"width":121,"height":9}},{"id":"a8effd71-bc1e-4497-afb1-106979a29f8e","block_type":"box","text":"Accumulation Units","page_number":55,"box":{"x":116,"y":783,"width":143,"height":9}},{"id":"6bd21be2-82f7-4ee8-81ad-8c91f059ee2f","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":55,"box":{"x":352,"y":675,"width":404,"height":11}},{"id":"0d1c8599-91e1-4b53-9a82-4a13a727cf25","block_type":"box","text":"Unitholder","page_number":55,"box":{"x":353,"y":689,"width":75,"height":9}},{"id":"4e3fce35-4d9c-499e-9c91-99bceed3f4b5","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":55,"box":{"x":352,"y":709,"width":404,"height":11}},{"id":"5c892be5-0056-41ef-84cd-0f271d731bb9","block_type":"box","text":"property","page_number":55,"box":{"x":353,"y":723,"width":60,"height":10}},{"id":"ede2f388-4079-4c77-b7f1-01b6056e0e26","block_type":"box","text":"ACS management charge: Deducted from Scheme","page_number":55,"box":{"x":352,"y":790,"width":404,"height":12}},{"id":"64ea113b-6b23-42fd-8753-40280351ffaf","block_type":"box","text":"Property. Currently 0.00%","page_number":55,"box":{"x":354,"y":804,"width":191,"height":11}},{"id":"4d4461a4-122b-424e-aa48-34ec41cbaade","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":55,"box":{"x":352,"y":831,"width":404,"height":12}},{"id":"9748dc44-da12-4815-8bb4-952efb7f72fb","block_type":"box","text":"property","page_number":55,"box":{"x":353,"y":846,"width":60,"height":10}},{"id":"fd12efd8-6a22-4f23-8989-c774dc26512f","block_type":"box","text":"Accounting Dates","page_number":55,"box":{"x":117,"y":891,"width":141,"height":11}},{"id":"74710f4c-aee7-40fa-94f4-f35ae639691b","block_type":"box","text":"Annual Accounting Date","page_number":55,"box":{"x":116,"y":917,"width":180,"height":11}},{"id":"902b169f-f474-4158-be4f-7bad986119a6","block_type":"box","text":"31 December","page_number":55,"box":{"x":353,"y":917,"width":100,"height":9}},{"id":"2f3ddef8-d8a0-409b-a97c-75fac41bb8b7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":56,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"409e13c9-0d60-42d8-bf5f-944487584ce2","block_type":"box","text":"56","page_number":56,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"7108d4f9-ea2b-4feb-b2c8-e29c6e298571","block_type":"box","text":"Aviva Investors: Confidential","page_number":56,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"543ea7de-f2a8-4f9f-a130-6a215bdd0641","block_type":"box","text":"First Accounting Date","page_number":56,"box":{"x":118,"y":59,"width":158,"height":11}},{"id":"6040a87c-4b73-446d-b2a7-4fb7ff9d02bc","block_type":"box","text":"31 December 2015","page_number":56,"box":{"x":353,"y":59,"width":141,"height":9}},{"id":"339e35c6-2aab-44fd-ac89-657db58e0ddf","block_type":"box","text":"Annual Income Allocation","page_number":56,"box":{"x":116,"y":85,"width":188,"height":9}},{"id":"540d06e7-2452-4009-bf80-4962bb0a346a","block_type":"box","text":"Date","page_number":56,"box":{"x":118,"y":99,"width":33,"height":9}},{"id":"1ebb3171-0297-4ace-b10d-c9e20d34226c","block_type":"box","text":"On or before 28 /29 February","page_number":56,"box":{"x":353,"y":85,"width":217,"height":11}},{"id":"e8994bfd-56a7-47e8-88a3-b981119d8378","block_type":"box","text":"Half Yearly Accounting Date","page_number":56,"box":{"x":118,"y":125,"width":208,"height":11}},{"id":"4d525fd0-3777-4079-b27e-25c370019611","block_type":"box","text":"30 June","page_number":56,"box":{"x":353,"y":125,"width":58,"height":9}},{"id":"e4ca4e45-3755-4b3a-9dd9-421aff738de1","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":56,"box":{"x":62,"y":165,"width":861,"height":11}},{"id":"327da529-6c73-4250-89b2-a01353240293","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":56,"box":{"x":62,"y":178,"width":408,"height":12}},{"id":"3d24ffc2-91f0-4976-80a2-7afb7fe1f424","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":56,"box":{"x":62,"y":198,"width":642,"height":11}},{"id":"b426aa6a-19d9-4c9c-b1e0-b64b7cdb4ab2","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":56,"box":{"x":62,"y":218,"width":860,"height":11}},{"id":"7fbc65b3-ce8e-4375-a719-04987aa57550","block_type":"box","text":"this Prospectus.","page_number":56,"box":{"x":62,"y":231,"width":117,"height":11}},{"id":"a9329925-1cd8-4a4c-8744-53ca2f33c597","block_type":"box","text":"□","page_number":56,"box":{"x":62,"y":260,"width":5,"height":4}},{"id":"540d67f9-324e-473a-9a56-a2a14b9af518","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":56,"box":{"x":74,"y":259,"width":342,"height":8}},{"id":"da3acc23-00f5-4e3e-a2ca-5901276d4543","block_type":"box","text":"#","page_number":56,"box":{"x":62,"y":286,"width":5,"height":5}},{"id":"7d40220d-7e47-4d48-bcd4-7bb6532dfd06","block_type":"box","text":"Prior to 7 April 2025 this Sub-Fund was called AI Sustainable Stewardship UK Equity Fund.","page_number":56,"box":{"x":69,"y":286,"width":675,"height":11}},{"id":"80be88ba-6a06-4bcf-a7db-032e10e6941f","block_type":"box","text":"Securities Financing and other Transactions:","page_number":56,"box":{"x":62,"y":305,"width":358,"height":12}},{"id":"c504eeda-fefd-48b9-b9a0-58752a5010f8","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":56,"box":{"x":62,"y":325,"width":860,"height":11}},{"id":"b55973ac-7c96-4218-82d5-76d8b041d08c","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":56,"box":{"x":62,"y":339,"width":438,"height":11}},{"id":"537b7819-8f9c-4e6b-af4d-5f3a1795cb2d","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":56,"box":{"x":62,"y":378,"width":861,"height":11}},{"id":"7e12f059-73dc-4638-b039-3a24326a4e49","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":56,"box":{"x":62,"y":392,"width":860,"height":11}},{"id":"eb24b1b8-c42d-4dcb-ab06-36df3606c6ff","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":56,"box":{"x":62,"y":405,"width":861,"height":11}},{"id":"7b779194-9794-45a4-a8f0-c4d5b7d79cf2","block_type":"box","text":"15%.","page_number":56,"box":{"x":63,"y":419,"width":35,"height":9}},{"id":"ec18e723-fc5f-4ed9-82f7-6846cd30c592","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":56,"box":{"x":62,"y":458,"width":860,"height":11}},{"id":"977aecda-b30e-4f38-bcbc-a8f5a6e78c6c","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":56,"box":{"x":62,"y":472,"width":860,"height":11}},{"id":"f6d59595-060a-480a-b27b-4934551a24c3","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":56,"box":{"x":62,"y":485,"width":861,"height":12}},{"id":"c4c6c92e-4856-4e32-80d3-d4b71527fa9a","block_type":"box","text":"is zero.","page_number":56,"box":{"x":62,"y":499,"width":52,"height":9}},{"id":"5dedca00-234d-4b45-8b9f-24d5ef6592c7","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":56,"box":{"x":62,"y":558,"width":249,"height":9}},{"id":"9d177da6-cd07-43d5-8bfe-5b563b095e47","block_type":"box","text":"Leverage","page_number":56,"box":{"x":63,"y":597,"width":72,"height":11}},{"id":"ee46b6dc-d81f-4b8e-805c-d0a184ad5e73","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":56,"box":{"x":63,"y":617,"width":860,"height":11}},{"id":"bd9fa902-a65f-4ef5-bc3f-b9e6fe19c806","block_type":"box","text":"management.","page_number":56,"box":{"x":62,"y":631,"width":101,"height":10}},{"id":"c2d6fb16-b3fa-4338-b61d-d2af0e49ae68","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":56,"box":{"x":62,"y":650,"width":860,"height":11}},{"id":"45b31c39-3a21-41aa-98c0-aa0b741d06e1","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":56,"box":{"x":62,"y":664,"width":649,"height":11}},{"id":"fec32d0d-b294-42a1-82d1-4693f7e26e63","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":56,"box":{"x":62,"y":683,"width":755,"height":11}},{"id":"bc5f8e0a-ff69-4c4f-a0fe-c871cb1676b2","block_type":"box","text":"Permitted derivatives","page_number":56,"box":{"x":72,"y":725,"width":168,"height":9}},{"id":"1e25c2b9-83da-467b-a0ce-bbf90714f0c8","block_type":"box","text":"Permitted?","page_number":56,"box":{"x":383,"y":725,"width":85,"height":9}},{"id":"ef828de5-9e65-4edd-886b-b02f0f884e23","block_type":"box","text":"Prohibited?","page_number":56,"box":{"x":489,"y":725,"width":91,"height":9}},{"id":"e262ccfc-df9e-4870-b19e-30b1cf22f288","block_type":"box","text":"Equity index futures","page_number":56,"box":{"x":72,"y":746,"width":146,"height":11}},{"id":"770eff4c-b767-4818-a2a3-b55554e82d1d","block_type":"box","text":"√","page_number":56,"box":{"x":421,"y":746,"width":8,"height":8}},{"id":"782827c1-6875-41af-b070-3d37071adc55","block_type":"box","text":"Government bond futures","page_number":56,"box":{"x":72,"y":764,"width":188,"height":9}},{"id":"85e9c9b0-5bc7-4831-967e-adebee30f85d","block_type":"box","text":"√","page_number":56,"box":{"x":530,"y":764,"width":8,"height":8}},{"id":"d67313c9-cbba-4f53-8e66-dc5235a4ee0a","block_type":"box","text":"Equity index options","page_number":56,"box":{"x":72,"y":782,"width":148,"height":11}},{"id":"954e264d-40eb-4b87-ad23-6f83f0205bb9","block_type":"box","text":"√","page_number":56,"box":{"x":421,"y":783,"width":8,"height":7}},{"id":"f2856ebf-2452-4472-8598-a320d7d91fef","block_type":"box","text":"Forward foreign exchange","page_number":56,"box":{"x":72,"y":801,"width":193,"height":11}},{"id":"2438f841-21b7-40ab-bfe4-70fbf5cdce84","block_type":"box","text":"√","page_number":56,"box":{"x":421,"y":801,"width":8,"height":8}},{"id":"6bab6edd-5732-46ff-adfc-9c47544ed959","block_type":"box","text":"Index credit default swaps","page_number":56,"box":{"x":72,"y":819,"width":192,"height":11}},{"id":"b14ead1c-5767-4449-abd9-bc67f07bf7f3","block_type":"box","text":"√","page_number":56,"box":{"x":530,"y":819,"width":8,"height":8}},{"id":"3067de76-6b5a-43f2-b4f2-4f79a299c8c0","block_type":"box","text":"Interest rate swaps","page_number":56,"box":{"x":72,"y":838,"width":140,"height":11}},{"id":"1f64247b-f0dc-45f9-aa2f-7e9c66845715","block_type":"box","text":"√","page_number":56,"box":{"x":530,"y":838,"width":8,"height":8}},{"id":"abaa6fff-3a68-4503-9a53-033c2b8281b8","block_type":"box","text":"OTC equity options","page_number":56,"box":{"x":72,"y":856,"width":142,"height":11}},{"id":"c6cfaea0-ac21-4427-bb6c-443d3a732651","block_type":"box","text":"√","page_number":56,"box":{"x":421,"y":856,"width":8,"height":8}},{"id":"21b7cea0-8139-4cc9-8ef4-c0f4aa7a9130","block_type":"box","text":"Inflation swaps","page_number":56,"box":{"x":72,"y":874,"width":109,"height":11}},{"id":"fd249faf-28e0-4d0a-aa3e-8503b608c14c","block_type":"box","text":"√","page_number":56,"box":{"x":530,"y":875,"width":8,"height":7}},{"id":"5ff81857-0d8b-4bea-ae06-9b6e62ca6a80","block_type":"box","text":"Cross currency swaps","page_number":56,"box":{"x":72,"y":893,"width":163,"height":11}},{"id":"673c2bce-6be6-4d52-a588-22325ef9b909","block_type":"box","text":"√","page_number":56,"box":{"x":530,"y":893,"width":8,"height":8}},{"id":"9545abf7-b037-41c5-ba33-e7e8992f244f","block_type":"box","text":"Other","page_number":56,"box":{"x":72,"y":911,"width":41,"height":9}},{"id":"adc3c2d8-40d9-4d94-a4e5-4bb41b3d7b41","block_type":"box","text":"√","page_number":56,"box":{"x":530,"y":912,"width":8,"height":7}},{"id":"a3eb61f2-4243-429f-839f-33c90702b328","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":57,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"9cd804e8-45a8-4700-9e4d-90a140be18b8","block_type":"box","text":"57","page_number":57,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"3b05e73d-36cb-4eb7-9309-16b57c30d1e6","block_type":"box","text":"Aviva Investors: Confidential","page_number":57,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"7ce0feaa-1c99-4b53-9c93-77548c77e859","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":57,"box":{"x":63,"y":72,"width":860,"height":11}},{"id":"960f2ec9-4312-4794-b4b6-f4e1c5d1dd02","block_type":"box","text":"2)","page_number":57,"box":{"x":62,"y":86,"width":13,"height":11}},{"id":"ded3eb36-8e0e-4f7b-93b1-18605f05ee8f","block_type":"box","text":"Leverage Limits","page_number":57,"box":{"x":63,"y":113,"width":128,"height":11}},{"id":"f932f23b-ee28-4883-b440-c9d24bdb57ca","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":57,"box":{"x":200,"y":113,"width":722,"height":11}},{"id":"7b72ac8d-4570-4454-be73-f8a19f6b3ab8","block_type":"box","text":"Regime):","page_number":57,"box":{"x":63,"y":127,"width":65,"height":11}},{"id":"c1ca5c3f-2d69-41ea-88f3-c4ef7978d055","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":57,"box":{"x":62,"y":154,"width":471,"height":11}},{"id":"d8a39a66-bc01-42ad-b8de-d544c8321edf","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":185,"width":6,"height":5}},{"id":"cf721d8c-b00f-44ad-8fd6-e496917c6da2","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":57,"box":{"x":92,"y":182,"width":193,"height":11}},{"id":"6ab141a8-fac8-4d94-a581-f2e8610adade","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":200,"width":6,"height":4}},{"id":"d33e9310-56bb-427e-ba12-3abde72d7fc9","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":57,"box":{"x":92,"y":197,"width":183,"height":11}},{"id":"4fd34d1b-cfa2-489b-874b-60840a0c273f","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":57,"box":{"x":62,"y":224,"width":860,"height":11}},{"id":"8118c8e2-a98e-4dfe-84b7-9e1e49a5d863","block_type":"box","text":"which case leverage will not exceed the following:","page_number":57,"box":{"x":62,"y":238,"width":368,"height":11}},{"id":"af98dbeb-b49f-4dea-9794-ca53597e2c92","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":269,"width":6,"height":4}},{"id":"69f7cad3-d09a-4ff8-b530-6b6564c33a15","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":57,"box":{"x":92,"y":266,"width":193,"height":11}},{"id":"b241a78a-a7bc-4161-bbdb-b8e2f0b23076","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":283,"width":6,"height":5}},{"id":"e882b121-6389-4813-9a12-c3cd5d240bcf","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":57,"box":{"x":92,"y":280,"width":183,"height":11}},{"id":"ece2e986-45b6-4f20-98fb-b4c59d8702fe","block_type":"box","text":"Specific Risks","page_number":57,"box":{"x":62,"y":319,"width":113,"height":11}},{"id":"9124a3ee-1f0a-4cbe-8ffb-85120c490bce","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":57,"box":{"x":181,"y":319,"width":462,"height":11}},{"id":"f0aa54b7-e81e-4406-a2a9-e4b7ca5d0eda","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":343,"width":6,"height":4}},{"id":"afbdf682-f0be-436a-9653-9cac325b8c15","block_type":"box","text":"Smaller Companies","page_number":57,"box":{"x":92,"y":340,"width":145,"height":11}},{"id":"64e2815e-3edb-4d08-8f2a-ae609547ec32","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":357,"width":6,"height":5}},{"id":"6eaaa039-1571-419b-8a30-a44a49bc45e2","block_type":"box","text":"Fixed Interest","page_number":57,"box":{"x":93,"y":354,"width":100,"height":9}},{"id":"7eeb4d55-fe93-4316-9522-52f2888e325d","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":372,"width":6,"height":4}},{"id":"ac433890-9eff-497d-8f72-3fca741dd016","block_type":"box","text":"Specialist","page_number":57,"box":{"x":92,"y":369,"width":71,"height":11}},{"id":"af02df1c-6593-4ab5-bd97-2abae9fd23c7","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":386,"width":6,"height":5}},{"id":"bc78653e-bed2-459a-901f-75678431e160","block_type":"box","text":"Environmental, Social & Governance","page_number":57,"box":{"x":93,"y":383,"width":272,"height":11}},{"id":"1b849aca-54fa-4678-859e-afd0409a773f","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":401,"width":6,"height":4}},{"id":"726401a8-b628-4ee4-9849-f2c15ad3aeaa","block_type":"box","text":"Single Market","page_number":57,"box":{"x":92,"y":398,"width":102,"height":11}},{"id":"be609201-c7de-47f4-9c5f-80edfe2cd002","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":415,"width":6,"height":5}},{"id":"de75b16e-1ea4-44c4-b999-2b40993b96f4","block_type":"box","text":"Equity Securities","page_number":57,"box":{"x":93,"y":412,"width":123,"height":11}},{"id":"8c7f729c-66b6-47d7-8336-41b959e1ee03","block_type":"box","text":"","page_number":57,"box":{"x":62,"y":430,"width":6,"height":4}},{"id":"faaaf6d3-e7ac-4520-91d2-766711fb1606","block_type":"box","text":"Concentration","page_number":57,"box":{"x":92,"y":426,"width":103,"height":9}},{"id":"1f5d4512-33a9-4f48-b85a-37f10adc3ac3","block_type":"box","text":"Past Performance – Aviva Investors Stewardship UK Equity Fund","page_number":57,"box":{"x":72,"y":460,"width":519,"height":11}},{"id":"7a348823-98c3-4055-b768-8f4708317f3f","block_type":"box","text":"% Growth","page_number":57,"box":{"x":71,"y":480,"width":77,"height":9}},{"id":"d595ddd7-3eaf-4b19-887f-c86e6fc78165","block_type":"box","text":"1/1/2024 to","page_number":57,"box":{"x":286,"y":506,"width":99,"height":8}},{"id":"cac4d05f-1e72-43b0-ac67-03f91d24e4d3","block_type":"box","text":"31/12/2024","page_number":57,"box":{"x":285,"y":518,"width":75,"height":8}},{"id":"b0737e5c-1249-4283-b708-72bd40463c8d","block_type":"box","text":"1/1/2023 to","page_number":57,"box":{"x":405,"y":506,"width":100,"height":8}},{"id":"c09a42ea-ba84-453d-8a85-e6bb5457d8fd","block_type":"box","text":"31/12/2023","page_number":57,"box":{"x":404,"y":518,"width":75,"height":8}},{"id":"fb3ce750-b2ef-421c-abda-70e1afeac5f3","block_type":"box","text":"1/1/2022 to","page_number":57,"box":{"x":524,"y":506,"width":100,"height":8}},{"id":"53541c98-e3b6-4a52-b7eb-4c6979fa2377","block_type":"box","text":"31/12/2022","page_number":57,"box":{"x":523,"y":518,"width":75,"height":8}},{"id":"6e179b36-2c70-4bc9-9877-47f125fe7fda","block_type":"box","text":"1/1/2021 to","page_number":57,"box":{"x":643,"y":506,"width":112,"height":8}},{"id":"5c6d2ace-fb9b-4787-bec7-d98228680b6a","block_type":"box","text":"31/12/2021","page_number":57,"box":{"x":642,"y":518,"width":73,"height":8}},{"id":"d63ab220-a2e2-4fd6-a845-be3c06b2ea31","block_type":"box","text":"1/1/2020 to","page_number":57,"box":{"x":774,"y":506,"width":124,"height":8}},{"id":"5487596e-2c66-4856-ae31-3df4f72ec422","block_type":"box","text":"31/12/2020","page_number":57,"box":{"x":773,"y":518,"width":75,"height":8}},{"id":"e6fafa80-d9ad-4995-9660-56160be9fec8","block_type":"box","text":"UK Corporate Income","page_number":57,"box":{"x":72,"y":543,"width":194,"height":10}},{"id":"4831eb91-f404-4acf-9abd-83e5804b40d3","block_type":"box","text":"Distribution Units (%)","page_number":57,"box":{"x":72,"y":555,"width":140,"height":10}},{"id":"e1fb4abf-d50a-4d7b-a023-ab488cb9bd0e","block_type":"box","text":"10.74","page_number":57,"box":{"x":286,"y":543,"width":36,"height":8}},{"id":"e39ca61f-6e3b-4937-a214-8125a0b42690","block_type":"box","text":"6.79","page_number":57,"box":{"x":404,"y":543,"width":29,"height":8}},{"id":"bf6b01df-23d6-4fd4-a94d-f49b5eab80f4","block_type":"box","text":"-6.06","page_number":57,"box":{"x":524,"y":543,"width":33,"height":8}},{"id":"69f9fcdb-be65-48ed-be0f-76bb5f3d1410","block_type":"box","text":"15.7","page_number":57,"box":{"x":644,"y":543,"width":27,"height":8}},{"id":"b00b63a9-6d11-4918-a45c-b6415807740d","block_type":"box","text":"-6.1","page_number":57,"box":{"x":774,"y":543,"width":22,"height":8}},{"id":"72e270b2-893c-42c8-86ef-34c9a3f2654b","block_type":"box","text":"Insured Pension Income","page_number":57,"box":{"x":72,"y":586,"width":194,"height":8}},{"id":"f096f0e3-ab6e-4794-aa45-77b206232876","block_type":"box","text":"Distribution Units (%)","page_number":57,"box":{"x":72,"y":598,"width":140,"height":10}},{"id":"9a4f9c3f-6ed9-4083-a43a-aed127d19deb","block_type":"box","text":"UK Institutional Accumulation","page_number":57,"box":{"x":72,"y":623,"width":194,"height":8}},{"id":"654ab094-1da3-4c1b-b02b-f54ee6a28aef","block_type":"box","text":"Units (%)","page_number":57,"box":{"x":72,"y":635,"width":60,"height":10}},{"id":"6ee1f3d2-b522-44d9-8413-12a6ea4c3ed7","block_type":"box","text":"10.71","page_number":57,"box":{"x":286,"y":623,"width":34,"height":8}},{"id":"4fa69692-9055-43d3-b1fd-663d5a0419ac","block_type":"box","text":"6.81","page_number":57,"box":{"x":404,"y":623,"width":27,"height":8}},{"id":"f97ffdf4-bc47-48c3-8073-b5e54412c274","block_type":"box","text":"-6.02","page_number":57,"box":{"x":524,"y":623,"width":33,"height":8}},{"id":"902dc4e3-4517-478a-b43a-a11bda40ba9b","block_type":"box","text":"15.7","page_number":57,"box":{"x":644,"y":623,"width":27,"height":8}},{"id":"57114c9b-f6c5-41e2-9f10-9afe135b97a8","block_type":"box","text":"-6.2","page_number":57,"box":{"x":774,"y":623,"width":24,"height":8}},{"id":"419b8730-391e-4c10-8567-2f9bcaa7f9c5","block_type":"box","text":"ACS (Fund of Fund)","page_number":57,"box":{"x":71,"y":666,"width":195,"height":10}},{"id":"0a3ec937-0708-45ca-9399-22cf74ecd419","block_type":"box","text":"Accumulation Units Class 1","page_number":57,"box":{"x":71,"y":678,"width":193,"height":8}},{"id":"4dc1bbc3-753e-4529-a335-48b133ff1a90","block_type":"box","text":"(%)","page_number":57,"box":{"x":72,"y":690,"width":21,"height":10}},{"id":"5c17d67c-43f7-42fe-a0e5-eda0a4a14295","block_type":"box","text":"ACS (Fund of Fund)","page_number":57,"box":{"x":71,"y":715,"width":195,"height":10}},{"id":"de550f79-c0a7-40fa-a30a-0e183c2c8f14","block_type":"box","text":"Accumulation Units Class 2","page_number":57,"box":{"x":71,"y":727,"width":195,"height":9}},{"id":"670f8d72-aa1c-4992-a5cd-e15063de9272","block_type":"box","text":"(%)","page_number":57,"box":{"x":72,"y":740,"width":21,"height":10}},{"id":"46f4cdb3-14bc-43c9-bb16-4a9680198791","block_type":"box","text":"UK Corporate Accumulation","page_number":57,"box":{"x":72,"y":765,"width":194,"height":10}},{"id":"236e72b0-5bd3-4889-91f1-3cf21a9dacdc","block_type":"box","text":"Units (%)","page_number":57,"box":{"x":72,"y":777,"width":60,"height":10}},{"id":"e4b5ed52-0190-453f-baa8-abe3c298c26f","block_type":"box","text":"Insured Pension","page_number":57,"box":{"x":72,"y":802,"width":194,"height":8}},{"id":"0afb6b4f-190e-44ae-b89b-8b84ae9e2c39","block_type":"box","text":"Accumulation Units (%)","page_number":57,"box":{"x":71,"y":814,"width":156,"height":10}},{"id":"50d624a3-014d-4e60-b0f5-170c760e2195","block_type":"box","text":"10.75","page_number":57,"box":{"x":286,"y":802,"width":36,"height":8}},{"id":"7998841a-83b4-41b3-98e9-80e136720ba3","block_type":"box","text":"6.86","page_number":57,"box":{"x":404,"y":802,"width":29,"height":8}},{"id":"a42e56fd-2acd-442b-bd2a-419052e6b6db","block_type":"box","text":"-6.01","page_number":57,"box":{"x":524,"y":802,"width":31,"height":8}},{"id":"8f731de5-54b2-49b1-8151-049706bc0f5c","block_type":"box","text":"15.6","page_number":57,"box":{"x":644,"y":802,"width":27,"height":8}},{"id":"1e25abf1-c8c3-4764-934e-1c81a10a6fd2","block_type":"box","text":"N/A","page_number":57,"box":{"x":774,"y":802,"width":24,"height":8}},{"id":"cf8e1d89-c989-467f-9015-bcc1b3d9dfed","block_type":"box","text":"UK Fund of Fund","page_number":57,"box":{"x":72,"y":845,"width":194,"height":8}},{"id":"ec239b0f-72e4-45ef-a074-1e1b25bc6e72","block_type":"box","text":"Accumulation Units (%)","page_number":57,"box":{"x":71,"y":857,"width":156,"height":10}},{"id":"bdb35cdf-d441-4095-ac50-3763b612814d","block_type":"box","text":"UK Feeder Fund","page_number":57,"box":{"x":72,"y":882,"width":193,"height":9}},{"id":"4b55e940-c6ad-4e4f-b032-be9a8c836bd3","block_type":"box","text":"Accumulation Units","page_number":57,"box":{"x":71,"y":896,"width":143,"height":8}},{"id":"8bdd0a6d-607e-40b9-a8f6-2a2230239299","block_type":"box","text":"N/A","page_number":57,"box":{"x":286,"y":882,"width":24,"height":8}},{"id":"65c91066-329d-4cef-bd63-04ec52383a57","block_type":"box","text":"6.82","page_number":57,"box":{"x":404,"y":882,"width":29,"height":8}},{"id":"bc28e76e-7841-47eb-8a2f-0dcd133fbf40","block_type":"box","text":"-5.97","page_number":57,"box":{"x":524,"y":882,"width":33,"height":8}},{"id":"49bad42e-11bf-4ddf-b460-6ee7bece6668","block_type":"box","text":"N/A","page_number":57,"box":{"x":643,"y":882,"width":24,"height":8}},{"id":"f1b51f8b-e066-455b-a2a7-088121c2ea67","block_type":"box","text":"N/A","page_number":57,"box":{"x":774,"y":882,"width":24,"height":8}},{"id":"e5ae2a55-a808-44a5-9d7e-6045646c745d","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":58,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"f78f7807-8108-45eb-836c-04e945d3eef7","block_type":"box","text":"58","page_number":58,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"094bbd1d-bb2e-47e3-9a26-fcb7c5a81afc","block_type":"box","text":"Aviva Investors: Confidential","page_number":58,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d7e96d0e-9f8e-48b6-a172-261f42f7b047","block_type":"box","text":"Index - FTSE® All-Share","page_number":58,"box":{"x":72,"y":59,"width":195,"height":8}},{"id":"983b8631-4cdd-4a3d-a741-2b61a6f06783","block_type":"box","text":"Custom Index","page_number":58,"box":{"x":73,"y":71,"width":93,"height":8}},{"id":"20c5db18-42b7-4c95-871b-b0b6b1190623","block_type":"box","text":"(prior to 15 February 2021,","page_number":58,"box":{"x":73,"y":89,"width":193,"height":10}},{"id":"b4b07a48-7c09-4832-b2d2-07ae36430af9","block_type":"box","text":"performance of the Sub-Fund","page_number":58,"box":{"x":71,"y":102,"width":197,"height":10}},{"id":"33e00620-814e-4234-ae20-e3aa43ff1619","block_type":"box","text":"was not assessed against the","page_number":58,"box":{"x":73,"y":114,"width":194,"height":10}},{"id":"c12aafe0-3caf-4ad9-9e02-5c6916ce5222","block_type":"box","text":"FTSE® All-Share Custom","page_number":58,"box":{"x":72,"y":126,"width":195,"height":8}},{"id":"f97e2c5b-b2fc-4a6c-ab58-2a5ab5347f86","block_type":"box","text":"Index)","page_number":58,"box":{"x":72,"y":138,"width":41,"height":11}},{"id":"cac17cc5-7a09-46f2-959c-85c3bac8c807","block_type":"box","text":"10.94","page_number":58,"box":{"x":288,"y":59,"width":36,"height":8}},{"id":"6b512343-18ea-4574-be9c-2ba2e26cd9b2","block_type":"box","text":"9.42","page_number":58,"box":{"x":405,"y":59,"width":29,"height":8}},{"id":"6b6b96c0-47c0-40a4-9373-33c13e968c25","block_type":"box","text":"-7.85","page_number":58,"box":{"x":524,"y":59,"width":35,"height":8}},{"id":"df7cf49f-823e-4b90-96ff-776de50d7dee","block_type":"box","text":"N/A","page_number":58,"box":{"x":643,"y":59,"width":24,"height":8}},{"id":"5a2f8d52-65d0-4780-bb0e-0aedb2052326","block_type":"box","text":"N/A","page_number":58,"box":{"x":774,"y":59,"width":24,"height":8}},{"id":"4964557f-c0db-4f05-b7b8-1ddff4721a6c","block_type":"box","text":"Index - FTSE® All-Share","page_number":58,"box":{"x":72,"y":163,"width":195,"height":8}},{"id":"919bcdc3-cce3-4b10-9ab9-176b5eb5b581","block_type":"box","text":"Total Return Index","page_number":58,"box":{"x":73,"y":176,"width":124,"height":8}},{"id":"09b2b530-0696-4578-aedc-cf888f314999","block_type":"box","text":"N/A","page_number":58,"box":{"x":286,"y":163,"width":24,"height":8}},{"id":"6cc70140-e21b-43bd-82b1-1c32a82b87b8","block_type":"box","text":"N/A","page_number":58,"box":{"x":405,"y":163,"width":24,"height":8}},{"id":"3c0f7264-76c8-4797-b7df-edf4c934d2cd","block_type":"box","text":"N/A","page_number":58,"box":{"x":524,"y":163,"width":24,"height":8}},{"id":"dc806f29-5eff-4b67-9567-5f608bb3d978","block_type":"box","text":"18.3","page_number":58,"box":{"x":645,"y":164,"width":27,"height":7}},{"id":"129be8a0-b82f-4854-84e1-9c3cbd4cf150","block_type":"box","text":"-9.8","page_number":58,"box":{"x":774,"y":164,"width":26,"height":7}},{"id":"3d6397f8-8276-4a58-aad6-20218d08a115","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":59,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"f9f75bb3-1882-4818-84ec-8e7c58293df5","block_type":"box","text":"59","page_number":59,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"6f65cd9d-b177-49ff-bd6e-a56ec8ef7553","block_type":"box","text":"Aviva Investors: Confidential","page_number":59,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"79e10012-b96f-46e4-8c1d-28084c89118d","block_type":"box","text":"AI Stewardship International Equity Fund","page_number":59,"box":{"x":62,"y":58,"width":327,"height":12}},{"id":"4abca35b-8e74-4ef5-ac9b-2ffae49d63ee","block_type":"box","text":"#","page_number":59,"box":{"x":390,"y":58,"width":6,"height":5}},{"id":"6263c9b4-e679-4316-af75-f4b9fa9a8573","block_type":"box","text":"FCA product reference number: 658286","page_number":59,"box":{"x":63,"y":78,"width":312,"height":11}},{"id":"e2100be5-83f6-4d4a-a2b8-1e0469f8df78","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":59,"box":{"x":62,"y":117,"width":860,"height":11}},{"id":"91bf3848-59cf-4c33-80b8-d6c0fbfeda9a","block_type":"box","text":"and was authorised by the FCA on 5 December 2014.","page_number":59,"box":{"x":62,"y":131,"width":398,"height":11}},{"id":"de698b8a-9a04-4dd4-8ed3-2ac21880f983","block_type":"box","text":"This product does not have a UK sustainable investment label.","page_number":59,"box":{"x":62,"y":151,"width":509,"height":11}},{"id":"a54af24e-b0e9-4ef2-b835-564a42e6c1fc","block_type":"box","text":"This is because – although the Sub-Fund has","page_number":59,"box":{"x":578,"y":150,"width":344,"height":12}},{"id":"4eeda848-c867-48a3-9a82-b75463f92240","block_type":"box","text":"sustainability characteristics - it does not currently meet the criteria for a label. Sustainable investment labels help","page_number":59,"box":{"x":62,"y":164,"width":861,"height":11}},{"id":"496c13bc-8ea8-4d74-9d07-f26293948570","block_type":"box","text":"investors find products that have a specific sustainability goal. They can be applied to funds with an explicit","page_number":59,"box":{"x":62,"y":178,"width":861,"height":11}},{"id":"bd5973c2-4c1f-47ad-aa6e-83f5a3628e90","block_type":"box","text":"sustainability objective that also meet other specific regulatory criteria for a UK sustainable investment label.","page_number":59,"box":{"x":62,"y":192,"width":800,"height":11}},{"id":"50e89739-77fe-4990-8a98-174aa5b6963e","block_type":"box","text":"Investment Objectives","page_number":59,"box":{"x":62,"y":231,"width":177,"height":11}},{"id":"21718157-dc6a-4a44-bee4-34787d90f399","block_type":"box","text":"The Sub-Fund aims, through the responsible allocation of capital, to grow your investment and provide an average","page_number":59,"box":{"x":62,"y":250,"width":861,"height":11}},{"id":"b364ace4-828f-4c9b-a336-2511d2c6ff17","block_type":"box","text":"annual net return greater than the MSCI® World NDR Total Return GBP Index over a rolling 5-year period through","page_number":59,"box":{"x":62,"y":264,"width":860,"height":11}},{"id":"76633fe5-9713-4fc0-a40f-57e89a02a714","block_type":"box","text":"investment in shares of global companies.","page_number":59,"box":{"x":62,"y":278,"width":311,"height":11}},{"id":"5da2ef82-76d5-4add-acfd-d0ff72b1978d","block_type":"box","text":"At least 85% of the Sub-Fund’s investments (the “","page_number":59,"box":{"x":62,"y":297,"width":363,"height":11}},{"id":"fcddedaa-e856-4297-bd64-c1295a960350","block_type":"box","text":"minimum stewardship allocation","page_number":59,"box":{"x":426,"y":297,"width":257,"height":11}},{"id":"8921608c-471c-4e6c-a2c9-c20cd87834db","block_type":"box","text":"”) must contribute to one of three","page_number":59,"box":{"x":685,"y":297,"width":238,"height":11}},{"id":"ee93fda8-a9bc-4a38-8de2-3f6c881a6082","block_type":"box","text":"pillars through their products and services or through their operations:","page_number":59,"box":{"x":62,"y":311,"width":515,"height":11}},{"id":"b27f38ac-6fa4-4a6a-a154-ba5852631385","block_type":"box","text":"∙","page_number":59,"box":{"x":63,"y":334,"width":2,"height":1}},{"id":"1b09beb6-1b1e-4c8c-baec-e11966353c00","block_type":"box","text":"Climate","page_number":59,"box":{"x":71,"y":330,"width":60,"height":9}},{"id":"d02451b0-2c4f-49ed-b2d5-ffaf0c6b7442","block_type":"box","text":"- for example, tackling the causes or impacts of climate change;","page_number":59,"box":{"x":137,"y":330,"width":471,"height":12}},{"id":"746f536b-8c27-4317-b41b-8307bf7627df","block_type":"box","text":"∙","page_number":59,"box":{"x":63,"y":354,"width":2,"height":1}},{"id":"e8aa3648-d0a3-4277-8804-f1161f46faa2","block_type":"box","text":"Earth","page_number":59,"box":{"x":72,"y":350,"width":40,"height":9}},{"id":"b3f118b7-01a2-4fe8-8d2d-59fe3faf90ab","block_type":"box","text":"- for example, tackling increasing biodiversity loss and resource scarcity;","page_number":59,"box":{"x":119,"y":350,"width":536,"height":11}},{"id":"9b8dd4fb-39f6-41c6-b5f2-f59356925a53","block_type":"box","text":"∙","page_number":59,"box":{"x":63,"y":373,"width":2,"height":2}},{"id":"3ae96bd7-efd7-4bda-9e37-94d1a99f4b2c","block_type":"box","text":"People","page_number":59,"box":{"x":72,"y":370,"width":53,"height":11}},{"id":"b8ef0d9c-5f61-43d0-aa8f-fc24bc032035","block_type":"box","text":"- for example, tackling social inequality and unfair working practices.","page_number":59,"box":{"x":131,"y":370,"width":504,"height":11}},{"id":"7b2b1571-880e-4646-8032-6798dfb26e7d","block_type":"box","text":"Further details on the Investment Manager’s proprietary investment framework are set out under “Sustainability","page_number":59,"box":{"x":63,"y":389,"width":860,"height":11}},{"id":"5d9eed99-be45-48e0-be20-d95586c5a412","block_type":"box","text":"Strategy” below.","page_number":59,"box":{"x":62,"y":403,"width":119,"height":11}},{"id":"1afff90b-f7e6-4633-8ddf-05914da265c5","block_type":"box","text":"Investment Policy","page_number":59,"box":{"x":62,"y":442,"width":142,"height":11}},{"id":"178de3dd-23e0-4d05-9df6-dac129bc79fc","block_type":"box","text":"Core investment:","page_number":59,"box":{"x":62,"y":462,"width":135,"height":8}},{"id":"4b174abd-94ce-43a0-8951-b63887fa8a92","block_type":"box","text":"At least 85% of the Sub-Fund will be invested in shares of global companies (including emerging markets).","page_number":59,"box":{"x":62,"y":481,"width":789,"height":12}},{"id":"2bef8930-85aa-4d44-93d1-3d38b57a9c91","block_type":"box","text":"Other investments:","page_number":59,"box":{"x":62,"y":501,"width":151,"height":9}},{"id":"c26a3e35-0587-46e0-afe2-47503ccfbd7c","block_type":"box","text":"The Sub-Fund may also invest in other funds (including funds managed by Aviva Investors companies), derivatives,","page_number":59,"box":{"x":62,"y":520,"width":860,"height":12}},{"id":"5e09cd49-900a-48d9-9cba-0d0698127cea","block_type":"box","text":"cash and deposits.","page_number":59,"box":{"x":62,"y":534,"width":138,"height":11}},{"id":"cc06ff10-1e2b-4cdb-bb03-6da8c73a72bf","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":59,"box":{"x":63,"y":554,"width":860,"height":11}},{"id":"f4c88f2a-0939-4314-a5d6-e61735653586","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":59,"box":{"x":62,"y":567,"width":861,"height":12}},{"id":"ee465d58-b0f7-4b23-b374-a069d7a8b6ca","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":59,"box":{"x":62,"y":581,"width":545,"height":11}},{"id":"89d7487b-3104-44e5-a7b6-1d580e12d7c1","block_type":"box","text":"Exclusions:","page_number":59,"box":{"x":63,"y":601,"width":91,"height":8}},{"id":"1b2dfa36-d51c-4eba-beaa-2ef35d775f66","block_type":"box","text":"The Sub-Fund is subject to two sets of screens, the Aviva Investors’ baseline exclusion policy and the","page_number":59,"box":{"x":62,"y":620,"width":758,"height":11}},{"id":"69312932-1ba6-4b13-a36a-666c3c3b3f1e","block_type":"box","text":"stewardship","page_number":59,"box":{"x":826,"y":620,"width":97,"height":11}},{"id":"38d2c1e8-2229-43ae-980e-c733765cd8cc","block_type":"box","text":"exclusions,","page_number":59,"box":{"x":62,"y":634,"width":90,"height":10}},{"id":"5a06624c-19dd-4c97-b472-d8bedce0d62a","block_type":"box","text":"which exclude companies that do not meet certain ethical, social and environmental standards, so that","page_number":59,"box":{"x":158,"y":634,"width":765,"height":11}},{"id":"00c378cb-cb0e-49f7-81a0-4e68a47261b4","block_type":"box","text":"the Sub-Fund does not invest in companies that the Investment Manager regards as incompatible with the three pillars","page_number":59,"box":{"x":62,"y":647,"width":860,"height":12}},{"id":"ae48541d-1596-4fb8-a230-75429c9a0628","block_type":"box","text":"of Climate, People and Earth. The purpose of these screens is to ensure that the Sub-Fund does not invest in","page_number":59,"box":{"x":62,"y":661,"width":860,"height":11}},{"id":"a81937d7-01db-4fcf-98e5-8ea5bf79ed05","block_type":"box","text":"companies that derive prescribed levels of revenue from a range of activities, including certain fossil fuel (thermal","page_number":59,"box":{"x":62,"y":675,"width":860,"height":11}},{"id":"1e115150-4c45-433e-b55e-ff733ead8153","block_type":"box","text":"coal, oil and gas) activities, or companies that have significant reserves of certain fossil fuels, activities that are not","page_number":59,"box":{"x":62,"y":688,"width":861,"height":12}},{"id":"ccb41dd1-4175-4af5-8a24-6fbfcb7fe3bb","block_type":"box","text":"compatible with animal welfare, or certain activities connected to alcohol and gambling, genetic modification and adult","page_number":59,"box":{"x":62,"y":702,"width":861,"height":11}},{"id":"baddc247-b0c7-42a2-88fa-f38b47a1c67e","block_type":"box","text":"entertainment -","page_number":59,"box":{"x":62,"y":716,"width":111,"height":9}},{"id":"6d98854d-a727-4588-b975-c93d0fd73033","block_type":"box","text":"please see Appendices 2 and 3 for information on these investment restrictions","page_number":59,"box":{"x":180,"y":716,"width":633,"height":11}},{"id":"90af0f3d-6f93-4f29-9891-5e8b2b5c0a5e","block_type":"box","text":".","page_number":59,"box":{"x":815,"y":723,"width":2,"height":1}},{"id":"c1156b6d-f37a-4cc4-8f12-be64f622466d","block_type":"box","text":"If there are any differences between the baseline exclusion policy and the stewardship exclusions, the more restrictive","page_number":59,"box":{"x":63,"y":735,"width":860,"height":12}},{"id":"39dbc16f-42e9-4057-800b-9129d262bc37","block_type":"box","text":"exclusions will apply. As these screens only exclude shares issued by companies, this screening process is not","page_number":59,"box":{"x":62,"y":749,"width":861,"height":11}},{"id":"13dbc9d2-fd26-4d1a-8bc4-2dddf9b18d2b","block_type":"box","text":"applied to other investments, for example cash and certain derivatives.","page_number":59,"box":{"x":62,"y":763,"width":523,"height":11}},{"id":"ab4397c2-c843-4ac9-94c0-6bb3ea45b3eb","block_type":"box","text":"Investment Strategy and Asset Selection:","page_number":59,"box":{"x":62,"y":782,"width":328,"height":11}},{"id":"53de87bd-4360-424f-98d4-005fd7112cb2","block_type":"box","text":"The Sub-Fund is actively managed, selecting investments aligned to the Sub-Fund’s growth aims and in-line with the","page_number":59,"box":{"x":62,"y":802,"width":861,"height":11}},{"id":"84c6fed6-c7c2-4f9c-b4f2-80772efa9e6b","block_type":"box","text":"Sub-Fund’s Sustainability Strategy (see below). The Investment Manager aims through the responsible allocation of","page_number":59,"box":{"x":62,"y":815,"width":861,"height":12}},{"id":"01fd709d-f948-46fd-b384-0a85e30ca010","block_type":"box","text":"capital (stewardship) to encourage companies to improve environmental and/or social outcomes through their","page_number":59,"box":{"x":62,"y":829,"width":861,"height":11}},{"id":"64fe9525-f808-45aa-8eac-75d1784f5b6c","block_type":"box","text":"products and services, and/or through their operations.","page_number":59,"box":{"x":62,"y":843,"width":405,"height":11}},{"id":"8555234f-8408-4b34-b58a-51f73b512610","block_type":"box","text":"The Investment Manager has the discretion to build a diverse portfolio of companies of any size, at any stage of the","page_number":59,"box":{"x":62,"y":862,"width":861,"height":12}},{"id":"cbd2f494-509f-42e6-b693-95d6da80eae7","block_type":"box","text":"business cycle and across different industry sectors with an emphasis on risk management within the Sub-Fund.","page_number":59,"box":{"x":62,"y":876,"width":832,"height":11}},{"id":"31bf4556-19ef-4abe-a2b5-d2523b9602d1","block_type":"box","text":"Once any excluded companies have been removed from the available investment universe (see above), the Sub","page_number":59,"box":{"x":62,"y":896,"width":860,"height":11}},{"id":"cdc41f07-7256-4d6a-ba60-0b72c21e54f6","block_type":"box","text":"Fund must invest in its minimum stewardship allocation. To be eligible for investment, the company must meet the","page_number":59,"box":{"x":63,"y":909,"width":860,"height":11}},{"id":"91bb1efe-cebc-4266-b3bc-b9c1d2fc0ac3","block_type":"box","text":"Fund’s qualifying criteria through either the company’s:","page_number":59,"box":{"x":63,"y":923,"width":404,"height":11}},{"id":"5819b5d7-8ac6-41ed-b507-ab768445b796","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":60,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"e5112886-924e-4113-9bf8-5f9831191dd1","block_type":"box","text":"60","page_number":60,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"18f8d73d-d61b-4942-b0f1-a79e91729ab4","block_type":"box","text":"Aviva Investors: Confidential","page_number":60,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"009ea3e6-7b6a-4733-afeb-2c88e9ed52ba","block_type":"box","text":"","page_number":60,"box":{"x":140,"y":76,"width":6,"height":4}},{"id":"156e63b0-eb29-4b13-b30a-d49dde104e13","block_type":"box","text":"Products and Services -","page_number":60,"box":{"x":158,"y":73,"width":189,"height":9}},{"id":"c0f79c1a-84e5-44cc-a015-88fdcda4ec69","block_type":"box","text":"consideration will be given to the revenue a company generates from","page_number":60,"box":{"x":353,"y":73,"width":511,"height":11}},{"id":"f719f5ec-e70e-44a1-8706-db5b487ece4a","block_type":"box","text":"products and services that are linked to investment themes that fall under one or more of the three","page_number":60,"box":{"x":170,"y":87,"width":728,"height":11}},{"id":"ac02911a-ae6f-4741-b499-9f3dae367a87","block_type":"box","text":"pillars.","page_number":60,"box":{"x":170,"y":100,"width":46,"height":11}},{"id":"d70eceeb-97b4-46a2-a744-a0b3340c797c","block_type":"box","text":"","page_number":60,"box":{"x":140,"y":124,"width":6,"height":4}},{"id":"8a22e107-85af-4115-84b7-203a2a3de133","block_type":"box","text":"Operations –","page_number":60,"box":{"x":157,"y":121,"width":102,"height":11}},{"id":"0cab9781-25c8-4724-a4e7-5d622732fdc2","block_type":"box","text":"consideration is given to the sustainability practices of a company’s operations. The","page_number":60,"box":{"x":264,"y":121,"width":619,"height":11}},{"id":"375af34a-0f0e-4a09-b634-32f069b6b6eb","block_type":"box","text":"Investment Manager may look at a range of factors to assess a company’s operations against","page_number":60,"box":{"x":171,"y":134,"width":694,"height":11}},{"id":"b225bc39-73da-4edd-882c-b4e755871e5c","block_type":"box","text":"investment themes linked to the three pillars, including (for example) its governance commitments,","page_number":60,"box":{"x":171,"y":148,"width":727,"height":11}},{"id":"37b9c000-2903-4811-ba6d-266e3cfefb2e","block_type":"box","text":"policies and actions to manage social and environmental issues, and performance compared to","page_number":60,"box":{"x":170,"y":162,"width":706,"height":11}},{"id":"f7dba116-967c-4363-a740-43ca564ef376","block_type":"box","text":"peers.","page_number":60,"box":{"x":170,"y":178,"width":45,"height":8}},{"id":"5afc40b2-1541-455f-8824-1bd12783316a","block_type":"box","text":"See “Sustainability Strategy” below for how the minimum stewardship allocation is achieved","page_number":60,"box":{"x":62,"y":195,"width":739,"height":11}},{"id":"16967a6c-df02-4725-8fc1-9f2931b369db","block_type":"box","text":".","page_number":60,"box":{"x":803,"y":202,"width":2,"height":1}},{"id":"0e9230a9-8621-4ac4-8aa5-bd9840f3846a","block_type":"box","text":"Outside of its minimum stewardship allocation, up to 15% of the portfolio may be in investments that do not meet","page_number":60,"box":{"x":62,"y":216,"width":844,"height":11}},{"id":"3450de5a-f3b6-4073-adf1-c540a59c342a","block_type":"box","text":"the standards required by the Investment Manager’s investment framework; the Investment Manager refers to these","page_number":60,"box":{"x":62,"y":229,"width":843,"height":12}},{"id":"fdb418d6-02e3-459c-a9bd-097b6e1d43b5","block_type":"box","text":"as “neutral” assets. Neutral assets include investments where the Investment Manager has otherwise determined","page_number":60,"box":{"x":62,"y":243,"width":843,"height":11}},{"id":"b8af0c8c-9137-417c-9334-27c1188fd4c4","block_type":"box","text":"that the issuing company has an overall neutral alignment to the three pillars (see “Sustainability Strategy” below),","page_number":60,"box":{"x":62,"y":256,"width":842,"height":12}},{"id":"af4e927c-96af-4373-ac28-a702145ba6c7","block_type":"box","text":"the nature of the asset is such that the sustainability characteristics of the asset are not possible to assess (for","page_number":60,"box":{"x":62,"y":270,"width":844,"height":11}},{"id":"b4a263b2-de3c-466d-8afe-36dd0548db64","block_type":"box","text":"example, cash, third-party funds and derivatives) or where there is not sufficient sustainability data available to","page_number":60,"box":{"x":62,"y":284,"width":843,"height":11}},{"id":"a145649a-10ab-498b-9e66-683c2c25a639","block_type":"box","text":"determine if that investment meets the Investment Manager’s criteria. The Sub-Fund may hold such neutral assets","page_number":60,"box":{"x":62,"y":297,"width":843,"height":12}},{"id":"955a0dac-7772-4036-b925-5b5d10498699","block_type":"box","text":"in order to support the financial objectives of the Sub-Fund, for liquidity purposes and for efficient portfolio","page_number":60,"box":{"x":62,"y":311,"width":844,"height":11}},{"id":"3285f8b5-2877-4923-adb5-83b8b10f863e","block_type":"box","text":"management purposes.","page_number":60,"box":{"x":62,"y":326,"width":174,"height":10}},{"id":"fa4d64c1-6b77-4d71-848b-e72f1fa114ce","block_type":"box","text":"The Sub-Fund’s minimum stewardship allocation will be reviewed on an ongoing basis against a range of key","page_number":60,"box":{"x":62,"y":344,"width":861,"height":12}},{"id":"b02a03cd-e216-46d1-a688-dd5718c463cb","block_type":"box","text":"performance indicators (KPIs) to ensure that they remain compliant with the Investment Manager’s investment","page_number":60,"box":{"x":62,"y":358,"width":861,"height":11}},{"id":"3fe33f45-07e9-49dc-b317-97e6cf5e2c16","block_type":"box","text":"framework – please see “Sustainability Strategy” below for further information.","page_number":60,"box":{"x":62,"y":372,"width":576,"height":11}},{"id":"4556a7b3-4f1a-4045-b164-78fb52855abd","block_type":"box","text":"Performance & Risk Strategy:","page_number":60,"box":{"x":63,"y":391,"width":234,"height":12}},{"id":"b1b8962e-bfa7-45a4-93ab-5bedad899070","block_type":"box","text":"The Sub-Fund’s performance is measured against the MSCI® World NDR Total Return GBP Index (the “Index”)","page_number":60,"box":{"x":62,"y":411,"width":828,"height":11}},{"id":"63322ea8-3125-48c5-903b-65af4bb826d6","block_type":"box","text":"□","page_number":60,"box":{"x":892,"y":412,"width":5,"height":4}},{"id":"204cad7a-c558-4acb-b607-abbed70c6de7","block_type":"box","text":".","page_number":60,"box":{"x":899,"y":418,"width":2,"height":2}},{"id":"56c19428-d8d9-4dc9-96a8-012b1c8d6e21","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index and also applies specific exclusions, and the","page_number":60,"box":{"x":62,"y":430,"width":861,"height":12}},{"id":"6a27b57a-a11f-4a2c-ae4e-4ee3e2d12c38","block_type":"box","text":"minimum stewardship allocation requirement, that do not apply to the Index. Therefore, the Sub-Fund will not hold","page_number":60,"box":{"x":62,"y":444,"width":861,"height":11}},{"id":"b16bc340-4c56-4129-a625-a837da09e08d","block_type":"box","text":"every company in the Index and may also hold companies that do not form part of it.","page_number":60,"box":{"x":62,"y":458,"width":622,"height":11}},{"id":"c8a40c54-38f7-44ad-8dbf-46fbd587bdbf","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":60,"box":{"x":62,"y":477,"width":861,"height":12}},{"id":"27f7fa82-dc2a-4582-b37d-54066b58e2aa","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":60,"box":{"x":63,"y":491,"width":859,"height":11}},{"id":"7259062d-8407-4b11-b571-d484bc3fcabe","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2% and 6% when","page_number":60,"box":{"x":62,"y":505,"width":860,"height":11}},{"id":"15aa7079-4128-4297-b83c-036570a41a40","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":60,"box":{"x":62,"y":518,"width":650,"height":12}},{"id":"ed0a9a71-44ad-441b-ad7f-daa06ebaaffc","block_type":"box","text":"The Index represents the performance of large and medium sized companies across developed markets covering","page_number":60,"box":{"x":62,"y":538,"width":860,"height":11}},{"id":"f029ecf5-4779-4151-9138-4db091880547","block_type":"box","text":"85% of the market capitalisation (total market value of a company’s outstanding shares) in these countries.","page_number":60,"box":{"x":62,"y":552,"width":790,"height":11}},{"id":"f162446e-69e4-49d3-8c35-eb2fcf66a95a","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":60,"box":{"x":62,"y":571,"width":861,"height":11}},{"id":"8987f9b6-ae0a-456a-b309-1fd106ac7329","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, although investors should be aware that due to the","page_number":60,"box":{"x":62,"y":585,"width":861,"height":11}},{"id":"e3020f08-0322-4aa5-8254-54bfd0d4153b","block_type":"box","text":"Sub-Fund’s specific exclusions the Index is not an accurate representation of all of the companies available to the","page_number":60,"box":{"x":62,"y":598,"width":861,"height":12}},{"id":"7de1ea67-ee01-4cd6-988e-9c7c390de21a","block_type":"box","text":"Sub-Fund. It is, however, an appropriate measure for the Sub-Fund’s performance.","page_number":60,"box":{"x":62,"y":612,"width":614,"height":11}},{"id":"596acd07-4aaf-4cc2-93ab-dfd6e3c4a569","block_type":"box","text":"The Sub-Fund’s Sustainability Strategy","page_number":60,"box":{"x":62,"y":651,"width":312,"height":12}},{"id":"724aabb9-3e9c-42a8-b80b-ad9e2f70026b","block_type":"box","text":"The Investment Manager’s investment framework requires an asset to contribute to one of three pillars, being Climate,","page_number":60,"box":{"x":62,"y":671,"width":860,"height":11}},{"id":"c567e66c-8a37-471c-bda4-6bed07502e0a","block_type":"box","text":"Earth and People. These pillars have been developed to encapsulate the aims of the United Nations’ Sustainable","page_number":60,"box":{"x":63,"y":685,"width":860,"height":11}},{"id":"f05de015-16fe-404a-a6e2-413d049e5fab","block_type":"box","text":"Development Goals (","page_number":60,"box":{"x":63,"y":698,"width":166,"height":11}},{"id":"ed8f41e5-f3e8-4d91-8de7-4844b777f56c","block_type":"box","text":"SDGs","page_number":60,"box":{"x":231,"y":698,"width":44,"height":9}},{"id":"5544b8a1-a7dd-4f64-95af-623f4821bad4","block_type":"box","text":"), which the Investment Manager believes provide a global consensus on major","page_number":60,"box":{"x":276,"y":698,"width":647,"height":12}},{"id":"005d2495-36ae-48bf-8b78-b9fbd60a6839","block_type":"box","text":"developmental challenges facing the world and on what activities or behaviours can (or can’t) be categorised as","page_number":60,"box":{"x":62,"y":712,"width":860,"height":11}},{"id":"8312721e-db7d-4a38-843e-19c921f112a5","block_type":"box","text":"“sustainable”.","page_number":60,"box":{"x":62,"y":726,"width":99,"height":8}},{"id":"125e4ae7-33df-47dc-9692-b24ce94ffb1d","block_type":"box","text":"Following the exclusion of companies by the stewardship exclusions (as described above), to determine if an asset","page_number":60,"box":{"x":63,"y":745,"width":860,"height":11}},{"id":"fe972273-13d8-4898-91bf-1d4c7d6fe2e4","block_type":"box","text":"is eligible for the Sub-Fund’s minimum stewardship allocation, the Investment Manager conducts a “deep dive","page_number":60,"box":{"x":62,"y":759,"width":861,"height":11}},{"id":"f03ebccf-d7d0-4002-b75b-300667872cd0","block_type":"box","text":"assessment” to see if the issuer meets the Sub-Fund’s qualifying criteria through either the issuer’s:","page_number":60,"box":{"x":62,"y":772,"width":736,"height":12}},{"id":"3de1a18c-84d2-434a-9763-efe2724636a1","block_type":"box","text":"","page_number":60,"box":{"x":92,"y":813,"width":6,"height":4}},{"id":"3048dab0-387c-4a56-87bb-950a25d65a49","block_type":"box","text":"Products and Services,","page_number":60,"box":{"x":123,"y":809,"width":186,"height":11}},{"id":"1315241a-90f7-4814-adad-c9e4bf2ed75e","block_type":"box","text":"looking at","page_number":60,"box":{"x":317,"y":810,"width":71,"height":11}},{"id":"ec467b78-541c-4d14-8c16-3f3880918746","block_type":"box","text":"the revenues that companies generate through products and services,","page_number":60,"box":{"x":394,"y":810,"width":528,"height":11}},{"id":"a7e27841-64df-4e62-aea0-ee3567839b4a","block_type":"box","text":"consideration will be given to the revenue a company generates from products and services in business","page_number":60,"box":{"x":123,"y":823,"width":800,"height":11}},{"id":"a3d5fc3b-7d49-45ab-b159-9c5a970a3d71","block_type":"box","text":"segments that are linked to investment themes that fall under one or more of the three pillars.","page_number":60,"box":{"x":122,"y":837,"width":690,"height":11}},{"id":"720805fe-ce5f-4e80-b1bb-b3c23f591105","block_type":"box","text":"","page_number":60,"box":{"x":92,"y":854,"width":6,"height":5}},{"id":"3cd05865-c96b-4576-8872-3087943d09f1","block_type":"box","text":"Operations,","page_number":60,"box":{"x":123,"y":851,"width":91,"height":11}},{"id":"0f9bb1c9-1570-4c89-91ef-c32236948872","block_type":"box","text":"considering the sustainability practices of a company’s operations, the Investment Manager may","page_number":60,"box":{"x":220,"y":851,"width":703,"height":11}},{"id":"71771003-9fb2-4ee8-bdbb-f264ac17e334","block_type":"box","text":"look at a range of factors to assess a company’s operations against investment themes linked to the three","page_number":60,"box":{"x":123,"y":865,"width":800,"height":11}},{"id":"5cb9d475-4ff4-4f06-9952-1704ca5fbb7d","block_type":"box","text":"pillars, including (for example) its governance commitments, policies and actions to manage social and","page_number":60,"box":{"x":123,"y":878,"width":799,"height":12}},{"id":"907f9491-7535-4f6b-998e-f24f0c88c1d8","block_type":"box","text":"environmental issues, and performance compared to peers.","page_number":60,"box":{"x":123,"y":892,"width":441,"height":11}},{"id":"6d18bd38-9ceb-4f90-afa5-cf944a7f2988","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":61,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"bb1786ef-678b-4d7e-9b63-7afda591a3e7","block_type":"box","text":"61","page_number":61,"box":{"x":787,"y":940,"width":10,"height":6}},{"id":"f377e20b-48b4-4525-83d7-feec42c84bbe","block_type":"box","text":"Aviva Investors: Confidential","page_number":61,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"92d04df5-b29d-4804-8d3a-7011e04945a5","block_type":"box","text":"Assets may qualify for investment where the issuer, either through their products and services or through their","page_number":61,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"58962a0f-9163-4594-b086-9d24da45029f","block_type":"box","text":"operations, is aligned to investment themes tied to one of the three pillars of Climate, Earth or People, and","page_number":61,"box":{"x":62,"y":66,"width":860,"height":11}},{"id":"4f1067b3-36a7-41a2-8ca9-04779efc0ebf","block_type":"box","text":"consequently to the associated UN SDGs:","page_number":61,"box":{"x":62,"y":80,"width":312,"height":11}},{"id":"de12e2e7-2422-4513-b054-cf447804d18d","block_type":"box","text":"Products and Services","page_number":61,"box":{"x":63,"y":107,"width":166,"height":9}},{"id":"d18cde38-fd49-4760-8bf5-d4a4b0727a36","block_type":"box","text":"Pillar","page_number":61,"box":{"x":64,"y":137,"width":37,"height":8}},{"id":"6b4b3156-8761-470f-aea6-1b7c789feaff","block_type":"box","text":"Investment themes","page_number":61,"box":{"x":122,"y":137,"width":137,"height":8}},{"id":"4e33654f-1795-457c-823b-4425ccea23a5","block_type":"box","text":"Theme relevance","page_number":61,"box":{"x":298,"y":137,"width":122,"height":8}},{"id":"259c5321-b5e4-44d2-882e-b0e770e6d439","block_type":"box","text":"Relevant SDG","page_number":61,"box":{"x":671,"y":137,"width":99,"height":8}},{"id":"bee561a7-869f-45d6-b579-30190680d442","block_type":"box","text":"†","page_number":61,"box":{"x":771,"y":136,"width":5,"height":7}},{"id":"08337254-cd68-44de-bafe-3883b4894d37","block_type":"box","text":"Climate","page_number":61,"box":{"x":63,"y":296,"width":54,"height":8}},{"id":"252049d6-1ae6-4d4a-85dd-e32fec620352","block_type":"box","text":"Sustainable/Alternative","page_number":61,"box":{"x":122,"y":153,"width":166,"height":8}},{"id":"8b5d6d05-866f-4548-998d-9cd98722bf2c","block_type":"box","text":"energy","page_number":61,"box":{"x":122,"y":167,"width":49,"height":8}},{"id":"8b49bff0-6852-43d9-80bb-b010aafb090d","block_type":"box","text":"Sustainable energy and electrification are key","page_number":61,"box":{"x":297,"y":153,"width":371,"height":10}},{"id":"1257b1d4-5c1c-4ff4-9259-ca78ebc48503","block_type":"box","text":"components of SDG 7, which aims to ensure access to","page_number":61,"box":{"x":297,"y":165,"width":371,"height":10}},{"id":"56bdfdd5-a819-416e-9479-b78b70d56dab","block_type":"box","text":"affordable, reliable, sustainable, and modern energy for","page_number":61,"box":{"x":297,"y":177,"width":371,"height":11}},{"id":"bb56f01a-ebf7-4d3b-8d83-2b818c27b825","block_type":"box","text":"all.","page_number":61,"box":{"x":297,"y":190,"width":17,"height":8}},{"id":"bf119c25-b047-49a9-b15a-2a4c8cd7627f","block_type":"box","text":"7 –","page_number":61,"box":{"x":670,"y":153,"width":26,"height":8}},{"id":"346f27c5-093f-4d2a-ae41-be0136975fa0","block_type":"box","text":"Affordable and","page_number":61,"box":{"x":706,"y":153,"width":112,"height":8}},{"id":"5a318216-7ad1-4bdf-ad3e-4f6c222e0ec7","block_type":"box","text":"Clean Energy","page_number":61,"box":{"x":670,"y":165,"width":96,"height":10}},{"id":"2cba41f3-cf99-4f7b-bc06-86fc35702363","block_type":"box","text":"Electrification","page_number":61,"box":{"x":123,"y":178,"width":98,"height":8}},{"id":"ac8863cb-1fcf-4cbc-af5f-f4e4fbf44ab0","block_type":"box","text":"Sustainable Buildings","page_number":61,"box":{"x":122,"y":203,"width":172,"height":10}},{"id":"11bdc31c-6c38-4b4f-ac1b-caa0ea3288e7","block_type":"box","text":"and Infrastructure","page_number":61,"box":{"x":122,"y":215,"width":129,"height":8}},{"id":"36c5be09-329b-409d-bd26-1b14def45753","block_type":"box","text":"Sustainable building, as part of the broader Sustainable","page_number":61,"box":{"x":297,"y":203,"width":371,"height":10}},{"id":"d501fcc0-6c79-4f35-baf3-edd4cb0488f2","block_type":"box","text":"Urbanisation, is a crucial aspect of achieving several","page_number":61,"box":{"x":297,"y":215,"width":370,"height":10}},{"id":"54a4205c-1277-4a2d-bfd0-91aa59b0c7d0","block_type":"box","text":"SDGs, but particularly SDGs 9 and 11, which focus on","page_number":61,"box":{"x":297,"y":227,"width":370,"height":11}},{"id":"b09ff2a0-0187-4c36-8a59-1a35c215f0ea","block_type":"box","text":"making cities and human settlements inclusive, safe,","page_number":61,"box":{"x":297,"y":240,"width":370,"height":10}},{"id":"2d541f70-fe27-417c-a832-4fd6a68e0d99","block_type":"box","text":"resilient, and sustainable.","page_number":61,"box":{"x":297,"y":252,"width":168,"height":9}},{"id":"4fede09d-50f6-462b-9be2-09e6413cc3fb","block_type":"box","text":"9 –","page_number":61,"box":{"x":670,"y":203,"width":50,"height":8}},{"id":"54d48906-9860-4333-8434-6057a8e89f92","block_type":"box","text":"Industry,","page_number":61,"box":{"x":755,"y":203,"width":63,"height":10}},{"id":"4932a874-2ef8-43a2-bdc1-7207690afde8","block_type":"box","text":"Innovation and","page_number":61,"box":{"x":670,"y":215,"width":148,"height":8}},{"id":"4c14c06c-a086-430e-a5d1-2da0c5990627","block_type":"box","text":"infrastructure","page_number":61,"box":{"x":670,"y":227,"width":98,"height":8}},{"id":"9d241d3e-6dfc-4975-871a-8fe6e3504d5d","block_type":"box","text":"11 –","page_number":61,"box":{"x":670,"y":252,"width":44,"height":8}},{"id":"41198507-8f0b-48cf-a32a-e6d7af25c2d7","block_type":"box","text":"Sustainable","page_number":61,"box":{"x":734,"y":252,"width":84,"height":8}},{"id":"409fa5dd-a6a6-4b58-a451-ab335326921f","block_type":"box","text":"Cities and","page_number":61,"box":{"x":670,"y":264,"width":148,"height":8}},{"id":"9df6555f-afbe-4b25-82c9-6e21e5d8aaa2","block_type":"box","text":"Communities","page_number":61,"box":{"x":670,"y":277,"width":95,"height":8}},{"id":"f4f59017-773e-4efc-a91f-5d01807c2862","block_type":"box","text":"Sustainable transport","page_number":61,"box":{"x":122,"y":265,"width":155,"height":10}},{"id":"c7fa96b0-0bf3-454c-a349-d0213e97108b","block_type":"box","text":"Sustainable transport aims to provide universal access,","page_number":61,"box":{"x":297,"y":265,"width":370,"height":10}},{"id":"393e52a9-d7a4-40f5-a13b-65ae91caaac5","block_type":"box","text":"enhance safety, reduce environmental impact, improve","page_number":61,"box":{"x":297,"y":278,"width":371,"height":10}},{"id":"fc180a49-6f94-4c67-aef6-fbb6afdee0db","block_type":"box","text":"resilience, and increase efficiency. It is integrated across","page_number":61,"box":{"x":297,"y":290,"width":371,"height":10}},{"id":"ecb1c5dc-983c-4d08-bf8e-01b920a2dbc8","block_type":"box","text":"several goals and targets but has been captured in the","page_number":61,"box":{"x":297,"y":302,"width":371,"height":10}},{"id":"d302e3bd-3b39-4d4d-a0c9-f482104dff20","block_type":"box","text":"Climate pillar due to its impor","page_number":61,"box":{"x":297,"y":314,"width":195,"height":10}},{"id":"1418a624-5f4e-4752-ad7a-dee2bff41e31","block_type":"box","text":"tance in decarbonising the","page_number":61,"box":{"x":492,"y":314,"width":176,"height":11}},{"id":"3356d830-8da9-4eb0-a144-bb7fc05a5047","block_type":"box","text":"economy.","page_number":61,"box":{"x":297,"y":329,"width":63,"height":8}},{"id":"8627f229-1040-45e3-af8c-ef335ab89b79","block_type":"box","text":"Sustainable tourism","page_number":61,"box":{"x":122,"y":340,"width":143,"height":8}},{"id":"3f668eaa-3543-4240-9796-7cb0cf694a26","block_type":"box","text":"Sustainable tourism is specifically highlighted in several","page_number":61,"box":{"x":297,"y":340,"width":370,"height":10}},{"id":"e808fdf2-0177-47f9-b574-efa3a71df640","block_type":"box","text":"goals as sustainable tourism seeks to balance the needs","page_number":61,"box":{"x":297,"y":352,"width":371,"height":10}},{"id":"e4b741d7-243f-46dd-bab8-417491ca6561","block_type":"box","text":"of visitors, the industry, the environment, and host","page_number":61,"box":{"x":297,"y":365,"width":371,"height":10}},{"id":"60a16d14-945b-4595-8091-823058b90f73","block_type":"box","text":"communities.","page_number":61,"box":{"x":297,"y":377,"width":87,"height":8}},{"id":"8c0252d2-2f48-4453-bfda-825b3bab0a88","block_type":"box","text":"As the investment theme is specifically","page_number":61,"box":{"x":394,"y":377,"width":274,"height":10}},{"id":"85d5120f-8f72-4447-9763-805dd77da3e8","block_type":"box","text":"focussed on reducing the impact on","page_number":61,"box":{"x":296,"y":389,"width":248,"height":10}},{"id":"1d6cb99b-67a6-43a5-b1b5-2734eca6b3f4","block_type":"box","text":"climate change it","page_number":61,"box":{"x":551,"y":389,"width":117,"height":10}},{"id":"b5e01faf-81d2-41bf-b525-315cdc9ee20b","block_type":"box","text":"has been captured in the Climate pillar.","page_number":61,"box":{"x":297,"y":401,"width":260,"height":10}},{"id":"881154fd-9312-4247-aedf-4510b93d743c","block_type":"box","text":"Disaster risk reduction","page_number":61,"box":{"x":123,"y":415,"width":171,"height":7}},{"id":"df050a36-fc44-4140-8ac8-0b853f4883fc","block_type":"box","text":"and resilience","page_number":61,"box":{"x":122,"y":427,"width":100,"height":8}},{"id":"91d7382c-f766-4992-bf9c-3384231fc0e8","block_type":"box","text":"Disaster risk reduction (DRR) is integrated across","page_number":61,"box":{"x":297,"y":415,"width":371,"height":10}},{"id":"275352fa-d08c-46a1-b90d-73467b5ba655","block_type":"box","text":"multiple goals and targets. As the impacts of climate","page_number":61,"box":{"x":297,"y":427,"width":371,"height":10}},{"id":"9077fdc2-8cc3-406a-b242-d6bb3364625e","block_type":"box","text":"change significantly increase the need for resilience,","page_number":61,"box":{"x":297,"y":439,"width":370,"height":10}},{"id":"0e42ba4e-6c04-4f1d-b18a-324755fab199","block_type":"box","text":"DRR has been captured in the Climate pillar.","page_number":61,"box":{"x":297,"y":451,"width":297,"height":10}},{"id":"150d8382-6a75-499c-9aa0-cd3f119afa98","block_type":"box","text":"Earth","page_number":61,"box":{"x":64,"y":597,"width":36,"height":8}},{"id":"141de1e2-0af5-4be4-bea5-725cbf65ecc4","block_type":"box","text":"Sustainable water","page_number":61,"box":{"x":122,"y":465,"width":173,"height":8}},{"id":"7cddadad-e4e4-4671-a343-9eadb7f239fd","block_type":"box","text":"services","page_number":61,"box":{"x":122,"y":477,"width":60,"height":8}},{"id":"2147ded9-c108-46c9-bb8c-be3a1d531ed7","block_type":"box","text":"Water services and sanitation are a critical focus of the","page_number":61,"box":{"x":296,"y":465,"width":372,"height":8}},{"id":"5a619f38-1c62-4015-a5b0-084316672b55","block_type":"box","text":"SDGs, particularly under SDG 6. This goal aims to","page_number":61,"box":{"x":297,"y":477,"width":371,"height":10}},{"id":"a90e2ee8-fece-4811-ac57-ac4aa3cd0903","block_type":"box","text":"ensure availability and sustainable management of","page_number":61,"box":{"x":297,"y":489,"width":371,"height":10}},{"id":"ae94ec4c-037d-4b09-b9b6-ae4d15c3aacd","block_type":"box","text":"water and sanitation for all by 2030.","page_number":61,"box":{"x":296,"y":502,"width":238,"height":10}},{"id":"7936806c-089d-4429-88e8-b722ae60aee3","block_type":"box","text":"6 –","page_number":61,"box":{"x":670,"y":465,"width":22,"height":8}},{"id":"c0dde992-7264-4d84-9a9f-67e976019047","block_type":"box","text":"Clean Water and","page_number":61,"box":{"x":698,"y":465,"width":120,"height":8}},{"id":"f57e8681-04e1-4559-a980-48edc0285792","block_type":"box","text":"Sanitation","page_number":61,"box":{"x":670,"y":477,"width":72,"height":8}},{"id":"b19af878-496e-4fc7-a672-077b82647843","block_type":"box","text":"Sanitation","page_number":61,"box":{"x":122,"y":490,"width":72,"height":8}},{"id":"01155b1d-3e21-4e36-872c-43b374bdc1fa","block_type":"box","text":"Circular economy and","page_number":61,"box":{"x":122,"y":515,"width":172,"height":10}},{"id":"760005bd-c5cc-42d0-8f90-734799933189","block_type":"box","text":"waste management","page_number":61,"box":{"x":122,"y":528,"width":139,"height":9}},{"id":"c3cc19f8-68e2-4f6e-b6f6-d948f5cd280d","block_type":"box","text":"Circular economy and waste management are integral","page_number":61,"box":{"x":297,"y":515,"width":370,"height":10}},{"id":"995e0e25-a3bf-4f28-af50-55ccc7d4e4fc","block_type":"box","text":"to achieving several of the SDGs, but is most pertinent","page_number":61,"box":{"x":296,"y":527,"width":372,"height":10}},{"id":"dd78c7c9-bc96-4c79-a60a-615472572f60","block_type":"box","text":"to SDG 12, where integrating circular economy","page_number":61,"box":{"x":296,"y":539,"width":372,"height":10}},{"id":"0009ec56-c009-4ebb-919b-523b15a7ab8f","block_type":"box","text":"principles into product management can significantly","page_number":61,"box":{"x":297,"y":552,"width":371,"height":10}},{"id":"48f09553-c884-4677-9885-cac1a7892d64","block_type":"box","text":"enhance sustainability efforts.","page_number":61,"box":{"x":297,"y":564,"width":197,"height":10}},{"id":"b2f43f0a-7882-4c2a-9a5e-788234ad59ec","block_type":"box","text":"12 –","page_number":61,"box":{"x":670,"y":515,"width":42,"height":7}},{"id":"706583f6-defc-42e1-a76d-622eee05dbf9","block_type":"box","text":"Responsible","page_number":61,"box":{"x":730,"y":515,"width":88,"height":10}},{"id":"197738ae-ad5d-41da-b4c8-3317e2697849","block_type":"box","text":"Consumption and","page_number":61,"box":{"x":670,"y":527,"width":148,"height":10}},{"id":"eb06de3f-ced0-43e5-b11a-ee4957fcc4da","block_type":"box","text":"Production","page_number":61,"box":{"x":671,"y":539,"width":77,"height":8}},{"id":"a8361b8b-1d8d-4f98-b1ab-60283339cef3","block_type":"box","text":"Recycling solutions","page_number":61,"box":{"x":123,"y":577,"width":141,"height":10}},{"id":"9e550de3-052e-44c9-9feb-171165aad617","block_type":"box","text":"Recycling is a key component of SDG 12 which aims to","page_number":61,"box":{"x":297,"y":577,"width":371,"height":10}},{"id":"6fc2c96b-95f1-4376-9088-3ae8101d2165","block_type":"box","text":"ensure sustainable consumption and production","page_number":61,"box":{"x":297,"y":589,"width":370,"height":10}},{"id":"0830dfc6-525c-4ef2-8717-96dda0e3ffb3","block_type":"box","text":"patterns.","page_number":61,"box":{"x":297,"y":602,"width":57,"height":10}},{"id":"fcf47b7c-4960-4e86-a968-ca11dca8e7f3","block_type":"box","text":"Sustainable","page_number":61,"box":{"x":122,"y":615,"width":84,"height":8}},{"id":"7fe801de-ae2a-4a0c-9c16-e5527fcb655c","block_type":"box","text":"agriculture","page_number":61,"box":{"x":122,"y":627,"width":77,"height":10}},{"id":"162a9f0e-aaa2-4194-98da-617992e90b20","block_type":"box","text":"Sustainable agriculture contributes significantly to both","page_number":61,"box":{"x":297,"y":615,"width":370,"height":10}},{"id":"69a5c6c0-4a00-49f1-a631-94708ae62d3c","block_type":"box","text":"SDG 2 and SDG 15. As the key related targets of SDG","page_number":61,"box":{"x":297,"y":627,"width":370,"height":10}},{"id":"27bee6bb-c8bc-4d2e-bfb5-4789b295fb00","block_type":"box","text":"2 align to agricultural practices the theme has been","page_number":61,"box":{"x":296,"y":639,"width":371,"height":10}},{"id":"8e3608ac-6c30-45fe-81af-81fed562bfd8","block_type":"box","text":"captured in the Earth pillar.","page_number":61,"box":{"x":297,"y":652,"width":179,"height":10}},{"id":"156eee17-4f66-46da-a747-abc6ae5e6f12","block_type":"box","text":"15 – Life on Land","page_number":61,"box":{"x":670,"y":615,"width":122,"height":8}},{"id":"6802fd1f-7548-493b-88d0-94430fefa58e","block_type":"box","text":"Sustainable Forestry","page_number":61,"box":{"x":122,"y":665,"width":149,"height":10}},{"id":"e1de9346-2bff-4879-9f4a-e07567d96f41","block_type":"box","text":"Sustainable forestry principles link explicitly to SDG 15","page_number":61,"box":{"x":297,"y":665,"width":371,"height":10}},{"id":"a0f27daa-b1d4-4121-95e4-d0c4fa414222","block_type":"box","text":"which aims to protect, restore, and promote the","page_number":61,"box":{"x":296,"y":677,"width":372,"height":10}},{"id":"7d8db7cb-7d87-432d-8e44-55176ab43657","block_type":"box","text":"sustainable use of terrestrial ecosystems.","page_number":61,"box":{"x":297,"y":689,"width":275,"height":10}},{"id":"4b3e839e-bc56-479d-8642-30563a809e6b","block_type":"box","text":"Sustainable oceans","page_number":61,"box":{"x":122,"y":703,"width":140,"height":8}},{"id":"43733549-17e7-4be2-9c09-fa7eefc68cfc","block_type":"box","text":"Sustainable oceans are the focus of the SDG 14, which","page_number":61,"box":{"x":297,"y":703,"width":370,"height":9}},{"id":"3d0947b6-28fe-4585-adc1-698e56df5ad8","block_type":"box","text":"aims to conserve and sustainably use the oceans, seas,","page_number":61,"box":{"x":297,"y":715,"width":370,"height":10}},{"id":"1741a3a7-9e09-491c-9022-329dbac84b63","block_type":"box","text":"and marine resources.","page_number":61,"box":{"x":297,"y":727,"width":148,"height":8}},{"id":"bdd2b5ae-85f2-4a5b-ad82-01a0e559b9a6","block_type":"box","text":"14 –","page_number":61,"box":{"x":670,"y":703,"width":42,"height":7}},{"id":"3fc472d5-f65f-44b0-92ca-b8cf92ecdc38","block_type":"box","text":"Life Below","page_number":61,"box":{"x":731,"y":703,"width":87,"height":8}},{"id":"4a3bc9f2-b4d8-4dfc-83a4-6a93263f90ec","block_type":"box","text":"Water","page_number":61,"box":{"x":670,"y":715,"width":41,"height":8}},{"id":"702a162c-75f4-48c0-a1ce-65abbea52e5a","block_type":"box","text":"People","page_number":61,"box":{"x":64,"y":755,"width":48,"height":10}},{"id":"4034450f-1e97-41ae-b805-276e99907a97","block_type":"box","text":"Affordable Housing","page_number":61,"box":{"x":122,"y":742,"width":139,"height":10}},{"id":"536aa68d-a512-4606-a1c4-9127516b6a86","block_type":"box","text":"Affordable and safe housing is considered a key element","page_number":61,"box":{"x":296,"y":742,"width":372,"height":10}},{"id":"56fc710e-c4c1-4fc7-97f1-b8ec30a6ae28","block_type":"box","text":"of SDG 1, with improving living standards being","page_number":61,"box":{"x":297,"y":755,"width":370,"height":10}},{"id":"ac0a6686-390b-4981-9a28-f1837d4a4446","block_type":"box","text":"considered a key contributor to reducing poverty.","page_number":61,"box":{"x":297,"y":767,"width":325,"height":10}},{"id":"1ba8aca9-3871-4323-8f78-82d084f7e36a","block_type":"box","text":"1 – No Poverty","page_number":61,"box":{"x":670,"y":742,"width":104,"height":10}},{"id":"bba531c1-17a5-4097-874e-dc6f4092f91c","block_type":"box","text":"†","page_number":61,"box":{"x":62,"y":917,"width":3,"height":3}},{"id":"d25b2aa9-8660-4721-a182-242eda6ff7ff","block_type":"box","text":"https://sdgs.un.org/sustainabledevelopment","page_number":61,"box":{"x":70,"y":916,"width":290,"height":10}},{"id":"412268e5-4af4-43df-8524-19f3290e8a4c","block_type":"box","text":". The content of this publication has not been approved by the United Nations and does not reflect the","page_number":61,"box":{"x":362,"y":918,"width":561,"height":8}},{"id":"762cd6ed-5459-44db-8c63-12893c2937a8","block_type":"box","text":"views of the United Nations or its officials or Member States.","page_number":61,"box":{"x":74,"y":929,"width":331,"height":7}},{"id":"ab3e9286-e283-49c5-82a5-2997b9c6eff7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":62,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"9bc5c240-4102-4e86-a0ad-8df94887494b","block_type":"box","text":"62","page_number":62,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"ed46edee-5e0e-41c0-a457-6edc299ef934","block_type":"box","text":"Aviva Investors: Confidential","page_number":62,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"34de4c9f-b126-412a-b274-d8d063262bd5","block_type":"box","text":"Access to Nutrition","page_number":62,"box":{"x":122,"y":53,"width":137,"height":8}},{"id":"b67a18fc-6bf6-4ffb-bae1-cea3a161772d","block_type":"box","text":"Access to nutrition is a key component of SDG 2 -","page_number":62,"box":{"x":296,"y":53,"width":336,"height":10}},{"id":"2b9e296d-57a5-4c47-8ed8-fccd43cf17e0","block_type":"box","text":"Zero","page_number":62,"box":{"x":637,"y":53,"width":31,"height":8}},{"id":"95595fab-bb1e-4372-a530-49d97d4ca9a0","block_type":"box","text":"Hunger. This goal aims to end hunger, achieve food","page_number":62,"box":{"x":297,"y":65,"width":370,"height":11}},{"id":"09943f89-c0be-4fca-925e-89c30b6e2ba9","block_type":"box","text":"security, improve nutrition, and promote sustainable","page_number":62,"box":{"x":297,"y":78,"width":371,"height":10}},{"id":"1749bf1f-851a-4b21-bb7e-895f854a5aa3","block_type":"box","text":"agriculture by 2030.","page_number":62,"box":{"x":297,"y":90,"width":131,"height":10}},{"id":"7ca8c717-9507-4b3c-b3d1-7ca75696a2fa","block_type":"box","text":"2 – Zero Hunger","page_number":62,"box":{"x":670,"y":53,"width":115,"height":10}},{"id":"6cce1b5c-978e-4fba-a828-d1023f6b58b5","block_type":"box","text":"Healthcare","page_number":62,"box":{"x":123,"y":103,"width":76,"height":8}},{"id":"b52863dc-f3ff-4cfb-a5bd-1022160195ce","block_type":"box","text":"Healthcare is a central focus of SDG 3: Good Health and","page_number":62,"box":{"x":297,"y":103,"width":370,"height":8}},{"id":"c5c9883c-23ce-4b5e-8e6e-c48c583c7f0e","block_type":"box","text":"Well-","page_number":62,"box":{"x":296,"y":116,"width":34,"height":7}},{"id":"5addb802-28bb-4dbf-99b5-21dc48276626","block_type":"box","text":"being. This goal aims to ensure healthy lives and","page_number":62,"box":{"x":332,"y":116,"width":336,"height":10}},{"id":"3c57ef2d-1758-4789-b4c6-5bbb2f67f4e7","block_type":"box","text":"promote well-being for all at all ages by 2030.","page_number":62,"box":{"x":297,"y":128,"width":302,"height":10}},{"id":"25de4cbb-1c81-4c6f-9299-305033b58cdf","block_type":"box","text":"3 –","page_number":62,"box":{"x":670,"y":103,"width":21,"height":8}},{"id":"05094ff5-a6cb-4a29-a4ea-5caff7cd08c8","block_type":"box","text":"Good Health and","page_number":62,"box":{"x":697,"y":103,"width":121,"height":8}},{"id":"57027d9e-b07e-4da7-80a1-c19b002bd32b","block_type":"box","text":"Well-Being","page_number":62,"box":{"x":670,"y":115,"width":77,"height":11}},{"id":"dd37b7ce-286f-478e-b9cb-b79305a37c49","block_type":"box","text":"Access to education","page_number":62,"box":{"x":122,"y":143,"width":158,"height":8}},{"id":"4782ef96-f015-4813-910a-57f8dcbbbe41","block_type":"box","text":"Access to education is a key focus of SDG 4, which aims","page_number":62,"box":{"x":296,"y":143,"width":372,"height":10}},{"id":"8cd4521b-45a2-4f89-bba8-f01caf372acd","block_type":"box","text":"to ensure inclusive and equitable quality education and","page_number":62,"box":{"x":296,"y":155,"width":371,"height":10}},{"id":"f4f072bc-ff63-4f45-bbe1-7c1af6946c1e","block_type":"box","text":"promote lifelong learning opportunities for all.","page_number":62,"box":{"x":297,"y":167,"width":300,"height":10}},{"id":"f9e40996-099b-4fc3-8a48-6e28233c1a54","block_type":"box","text":"4","page_number":62,"box":{"x":670,"y":143,"width":7,"height":8}},{"id":"a7efee67-b2e4-4673-8eaa-a87f53bd448b","block_type":"box","text":"–","page_number":62,"box":{"x":718,"y":147,"width":9,"height":1}},{"id":"ed9060bf-55e5-4e3a-9d44-6c7fb7f381ef","block_type":"box","text":"Quality","page_number":62,"box":{"x":768,"y":143,"width":50,"height":10}},{"id":"fee1e6bf-60ac-45b0-87ef-8de9c07cf572","block_type":"box","text":"Education","page_number":62,"box":{"x":671,"y":155,"width":71,"height":8}},{"id":"defa4025-e454-499e-880f-51486893237f","block_type":"box","text":"Access to finance","page_number":62,"box":{"x":122,"y":181,"width":128,"height":7}},{"id":"427dc760-9562-4016-a6a2-3f73be491caf","block_type":"box","text":"Access to finance is a crucial aspect of achieving the","page_number":62,"box":{"x":296,"y":181,"width":372,"height":10}},{"id":"d9aabe70-6d8c-45c9-b7ff-d9c7f7dc1817","block_type":"box","text":"SDGs particularly SDG 8, which focuses on promoting","page_number":62,"box":{"x":297,"y":193,"width":370,"height":10}},{"id":"073a2a27-d81b-4721-aa9a-dab727d963e6","block_type":"box","text":"sustained, inclusive, and sustainable economic growth,","page_number":62,"box":{"x":297,"y":205,"width":370,"height":10}},{"id":"24f06bc4-11e2-432b-b4cd-bf25f3940302","block_type":"box","text":"full and productive employment, and decent work for all.","page_number":62,"box":{"x":296,"y":217,"width":367,"height":11}},{"id":"12a1a49a-0e00-4492-927e-317d9e36bec7","block_type":"box","text":"8-","page_number":62,"box":{"x":670,"y":181,"width":13,"height":8}},{"id":"e3013e17-3f97-48a6-ab4c-e9f63392b9a2","block_type":"box","text":"Decent work and","page_number":62,"box":{"x":684,"y":181,"width":134,"height":7}},{"id":"1273facd-cb8c-477f-b522-88c9762a439d","block_type":"box","text":"economic growth","page_number":62,"box":{"x":670,"y":193,"width":124,"height":10}},{"id":"59f8107e-1310-47ed-8f43-16ac12d2f3d5","block_type":"box","text":"Operations","page_number":62,"box":{"x":63,"y":239,"width":81,"height":11}},{"id":"d35cbc92-1b5d-4530-9202-334de52de026","block_type":"box","text":"Pillar","page_number":62,"box":{"x":64,"y":262,"width":37,"height":8}},{"id":"6c9e8a17-f50a-4007-b066-ad087d284e70","block_type":"box","text":"Investment themes","page_number":62,"box":{"x":111,"y":262,"width":137,"height":8}},{"id":"ce7484c3-3412-462b-94e4-9a64cfeb8581","block_type":"box","text":"Relevant UN SDGs","page_number":62,"box":{"x":296,"y":262,"width":134,"height":8}},{"id":"c6cc2954-bcb3-437f-ade6-79999cb143d3","block_type":"box","text":"Indicative Goals","page_number":62,"box":{"x":677,"y":262,"width":116,"height":8}},{"id":"bb7af9fb-57fb-4ad9-9a03-fa3042834e09","block_type":"box","text":"Climat","page_number":62,"box":{"x":63,"y":319,"width":46,"height":8}},{"id":"f33494ce-2b16-4cbb-852e-63f1ee9e4c78","block_type":"box","text":"e","page_number":62,"box":{"x":63,"y":333,"width":8,"height":6}},{"id":"a8bb617d-1d4c-4cd3-ad7b-39db49eb8e97","block_type":"box","text":"Response to Climate","page_number":62,"box":{"x":111,"y":276,"width":182,"height":10}},{"id":"988a581c-b064-4d41-a4b2-a6a8b7fd371d","block_type":"box","text":"Change","page_number":62,"box":{"x":111,"y":288,"width":52,"height":10}},{"id":"b1a1d8d8-9030-4012-90f9-057f5f65639d","block_type":"box","text":"(Targets, Disclosures,","page_number":62,"box":{"x":111,"y":300,"width":182,"height":11}},{"id":"1dd11c7b-af6e-4bfe-a58f-77cd433f5077","block_type":"box","text":"Strategies)","page_number":62,"box":{"x":111,"y":313,"width":72,"height":10}},{"id":"d3f4d39e-919b-442a-b1ae-9877f0e7e48c","block_type":"box","text":"Company operations significantly impact climate change","page_number":62,"box":{"x":296,"y":306,"width":378,"height":11}},{"id":"f5babb2d-0ca2-44a2-885c-4a5b9ed23c8d","block_type":"box","text":"through their direct emissions and energy consumption","page_number":62,"box":{"x":295,"y":319,"width":379,"height":10}},{"id":"aab7c1b2-7c7a-4d98-8535-aff5ad8b6b2c","block_type":"box","text":"as well as the emissions embedded throughout their","page_number":62,"box":{"x":296,"y":331,"width":379,"height":10}},{"id":"82a96fd1-f391-4e93-b247-7543b3012944","block_type":"box","text":"supply chains.","page_number":62,"box":{"x":296,"y":344,"width":94,"height":10}},{"id":"8e7b0ead-e2e1-4e0c-9b92-f260dbbbd117","block_type":"box","text":"7 –","page_number":62,"box":{"x":676,"y":276,"width":24,"height":8}},{"id":"c3395562-1a3c-4b36-920e-bb6997a02b91","block_type":"box","text":"Affordable and","page_number":62,"box":{"x":708,"y":276,"width":109,"height":8}},{"id":"33a11a8d-aad0-41bd-a929-a1596a1ed535","block_type":"box","text":"Clean Energy","page_number":62,"box":{"x":677,"y":288,"width":96,"height":10}},{"id":"01192531-417c-49c2-a75a-e9762544bd79","block_type":"box","text":"9 –","page_number":62,"box":{"x":677,"y":301,"width":46,"height":7}},{"id":"17397f18-2c2c-453d-a481-19bb668e649a","block_type":"box","text":"Industry,","page_number":62,"box":{"x":755,"y":301,"width":62,"height":9}},{"id":"89d6da5d-78cf-43ba-b7d2-c0ede3f1964c","block_type":"box","text":"Innovation and","page_number":62,"box":{"x":677,"y":313,"width":140,"height":8}},{"id":"9a1351bf-e3fd-47c9-a1e6-92646fb8a92d","block_type":"box","text":"infrastructure","page_number":62,"box":{"x":677,"y":325,"width":97,"height":8}},{"id":"85cc7577-b0ab-47e0-9ac9-5cf5c796c7eb","block_type":"box","text":"11 –","page_number":62,"box":{"x":677,"y":337,"width":40,"height":8}},{"id":"509a737e-be9a-4779-8f46-fa78986e3f81","block_type":"box","text":"Sustainable","page_number":62,"box":{"x":734,"y":337,"width":84,"height":8}},{"id":"56696c0a-de65-44f4-9e97-fd61d843e7b6","block_type":"box","text":"Cities and","page_number":62,"box":{"x":677,"y":349,"width":140,"height":9}},{"id":"293199c5-2de0-4b43-947e-6533e1e6eb3c","block_type":"box","text":"Communities","page_number":62,"box":{"x":677,"y":362,"width":94,"height":8}},{"id":"e980bd4d-34b5-4484-a000-ebd7e7dda686","block_type":"box","text":"13","page_number":62,"box":{"x":677,"y":374,"width":15,"height":8}},{"id":"cb42fcb4-f1af-47bc-8998-2894a74f3f31","block_type":"box","text":"–","page_number":62,"box":{"x":697,"y":378,"width":8,"height":1}},{"id":"475d6f08-79a0-4478-b5b4-42971c699caf","block_type":"box","text":"Climate Action","page_number":62,"box":{"x":709,"y":374,"width":104,"height":8}},{"id":"9830d98d-d7c4-4278-a4b1-f8f734babb52","block_type":"box","text":"Earth","page_number":62,"box":{"x":64,"y":424,"width":36,"height":8}},{"id":"c050e13e-ebb3-4b2a-8f29-866d3096d2a3","block_type":"box","text":"Nature (Biodiversity)","page_number":62,"box":{"x":111,"y":387,"width":135,"height":10}},{"id":"9847c590-3c10-4e39-9547-6fd2caf7c51e","block_type":"box","text":"Companies can have significant impacts on natural","page_number":62,"box":{"x":296,"y":412,"width":378,"height":10}},{"id":"cd9430e1-df94-4330-bc1f-a5f9ab0315ad","block_type":"box","text":"capital through resource use and waste, product lifecycle,","page_number":62,"box":{"x":296,"y":424,"width":378,"height":10}},{"id":"ecf1785d-ccbd-46e8-8993-3cb08e5a4a62","block_type":"box","text":"supply chain, land use, climate change, and through","page_number":62,"box":{"x":296,"y":437,"width":378,"height":10}},{"id":"ee17503e-f21f-425c-80b2-4b46779760d4","block_type":"box","text":"disrupting ecosystems.","page_number":62,"box":{"x":296,"y":449,"width":152,"height":10}},{"id":"25f7aea4-ae9b-4075-b249-e82a27628d93","block_type":"box","text":"6 –","page_number":62,"box":{"x":681,"y":388,"width":29,"height":7}},{"id":"72b1f044-3664-4ea2-9e45-b077286525db","block_type":"box","text":"Clean Water","page_number":62,"box":{"x":723,"y":387,"width":95,"height":8}},{"id":"b1aba1c8-07c7-4f4e-b47b-2beffaa348df","block_type":"box","text":"and Sanitation","page_number":62,"box":{"x":677,"y":400,"width":102,"height":8}},{"id":"88847ba8-ae78-4315-8b82-81271fb10ccf","block_type":"box","text":"12 –","page_number":62,"box":{"x":677,"y":412,"width":38,"height":8}},{"id":"cc3d73a8-79b8-443d-ab7c-3b384cf3279e","block_type":"box","text":"Responsible","page_number":62,"box":{"x":729,"y":412,"width":89,"height":10}},{"id":"50fe115f-8d8c-4158-9378-cd0ecabd25ce","block_type":"box","text":"Consumption and","page_number":62,"box":{"x":677,"y":424,"width":140,"height":10}},{"id":"e340bbe7-9a45-4148-ae21-d7af9d16256a","block_type":"box","text":"Production","page_number":62,"box":{"x":677,"y":437,"width":78,"height":7}},{"id":"f3396537-e336-4e14-b82d-49b53cad1d55","block_type":"box","text":"14 –","page_number":62,"box":{"x":677,"y":449,"width":40,"height":8}},{"id":"f955baa5-58d7-4b3d-aebd-db7feeb869b2","block_type":"box","text":"Life Below","page_number":62,"box":{"x":733,"y":449,"width":85,"height":8}},{"id":"d01cdc4a-7ee5-4ab3-a8de-552f25a117a9","block_type":"box","text":"Water","page_number":62,"box":{"x":676,"y":461,"width":42,"height":8}},{"id":"1e272cb1-240d-4a1d-a520-2014d9b14efc","block_type":"box","text":"15","page_number":62,"box":{"x":677,"y":473,"width":15,"height":8}},{"id":"c4effc67-a892-47ae-8582-b4c385e99908","block_type":"box","text":"–","page_number":62,"box":{"x":697,"y":478,"width":9,"height":1}},{"id":"0e0a5667-2334-4369-9005-6cf9ad6dbbc6","block_type":"box","text":"Life on Land","page_number":62,"box":{"x":711,"y":473,"width":88,"height":8}},{"id":"a2b3538f-620c-4be5-8432-1abe72dc2606","block_type":"box","text":"Land and Ocean Use","page_number":62,"box":{"x":111,"y":406,"width":142,"height":8}},{"id":"34fedb1f-7425-4753-87eb-0f041c20d21f","block_type":"box","text":"Natural resources","page_number":62,"box":{"x":111,"y":427,"width":118,"height":8}},{"id":"a4ae0b4f-3ec8-487c-ad09-b25620361485","block_type":"box","text":"Peopl","page_number":62,"box":{"x":64,"y":536,"width":39,"height":10}},{"id":"0c54db3e-a6f5-4b1b-84ca-a1e7b20415d1","block_type":"box","text":"e","page_number":62,"box":{"x":63,"y":550,"width":8,"height":6}},{"id":"8e1855af-7abf-46db-85d1-1caf3bc1d682","block_type":"box","text":"Corporate Responsibility","page_number":62,"box":{"x":111,"y":486,"width":183,"height":11}},{"id":"15f4aef8-f41c-4ce4-9918-a9fade5cf739","block_type":"box","text":"and Ethics","page_number":62,"box":{"x":111,"y":499,"width":69,"height":8}},{"id":"c22904fb-2a8d-4581-abf7-04088f177fdb","block_type":"box","text":"Company operations can have a wide range of impacts","page_number":62,"box":{"x":296,"y":529,"width":378,"height":11}},{"id":"63f2a0dd-e96c-4ab0-a30a-3d5d59093a07","block_type":"box","text":"on people, including employees, customers, and the","page_number":62,"box":{"x":296,"y":542,"width":378,"height":10}},{"id":"f50c1f19-4a11-43f1-ad3e-4fa30c3bb61a","block_type":"box","text":"broader community.","page_number":62,"box":{"x":296,"y":554,"width":132,"height":10}},{"id":"18314473-b82a-479b-9cb5-91baa66a4be5","block_type":"box","text":"5","page_number":62,"box":{"x":676,"y":487,"width":8,"height":8}},{"id":"ac1f473c-efa1-44d6-8fdb-4a7d35a1f4d5","block_type":"box","text":"–","page_number":62,"box":{"x":720,"y":491,"width":9,"height":1}},{"id":"abe0614a-511c-4b3a-aa8b-d4594a58beb4","block_type":"box","text":"Gender","page_number":62,"box":{"x":765,"y":487,"width":53,"height":8}},{"id":"0924e468-4c98-4d3a-9e5a-f4590c656753","block_type":"box","text":"Equality","page_number":62,"box":{"x":677,"y":499,"width":58,"height":10}},{"id":"9fbc0012-9343-4213-b4b9-b894143d72c7","block_type":"box","text":"8 –","page_number":62,"box":{"x":677,"y":511,"width":28,"height":8}},{"id":"d099920e-481a-4502-8112-9b3ed7435a82","block_type":"box","text":"Decent Work","page_number":62,"box":{"x":719,"y":511,"width":99,"height":8}},{"id":"3422bc10-d8c6-48ff-8f02-b516fdaa73fd","block_type":"box","text":"and Economic","page_number":62,"box":{"x":677,"y":523,"width":140,"height":8}},{"id":"5c7b0b1e-5dff-4822-917d-de5ae19ba350","block_type":"box","text":"Growth","page_number":62,"box":{"x":677,"y":536,"width":51,"height":8}},{"id":"4ac7bcda-475c-4828-bb46-5d71472f91db","block_type":"box","text":"10 –","page_number":62,"box":{"x":677,"y":548,"width":51,"height":8}},{"id":"ad884548-055f-4bef-9563-5eb2280671b0","block_type":"box","text":"Reduced","page_number":62,"box":{"x":755,"y":548,"width":62,"height":8}},{"id":"2aad3622-e4f4-493e-8c63-49415ff7addd","block_type":"box","text":"Inequalities","page_number":62,"box":{"x":677,"y":560,"width":82,"height":10}},{"id":"f7dfca06-060d-4977-a837-aa2df4959dc7","block_type":"box","text":"16-","page_number":62,"box":{"x":677,"y":573,"width":21,"height":8}},{"id":"eab6bf3d-ad51-4d6f-a13c-a4d126de2857","block_type":"box","text":"Peace, Justice","page_number":62,"box":{"x":709,"y":573,"width":109,"height":9}},{"id":"b54191d6-b2af-43b5-8b9d-61b44695858c","block_type":"box","text":"and Strong","page_number":62,"box":{"x":677,"y":585,"width":140,"height":10}},{"id":"8d113249-5471-40af-b5b9-410c2bab5a6f","block_type":"box","text":"Institutions","page_number":62,"box":{"x":677,"y":597,"width":80,"height":8}},{"id":"7eccf589-cc7b-4e90-9bb2-5ff53018dfb2","block_type":"box","text":"The Investment Manager keeps the investment framework under review and may from time to time update the","page_number":62,"box":{"x":62,"y":624,"width":843,"height":11}},{"id":"2dcb06d4-5d3f-4a85-abaa-786efd4fe368","block_type":"box","text":"investment themes, or introduce new investment themes, as the market evolves and/or sustainability expectations","page_number":62,"box":{"x":62,"y":638,"width":843,"height":11}},{"id":"4b6b31ab-a7e0-46f1-bd23-d3b88a49549e","block_type":"box","text":"develop.","page_number":62,"box":{"x":62,"y":652,"width":61,"height":11}},{"id":"51f24446-dc7b-45ec-8791-9d5079f227b5","block_type":"box","text":"To assess a potential investment’s eligibility under the investment framework, the Investment Manager uses both","page_number":62,"box":{"x":62,"y":672,"width":843,"height":12}},{"id":"ad8828fc-25df-46b7-80c6-c427f78e0ed9","block_type":"box","text":"quantitative and qualitative elements, including a broad range of third-party market data tools, internal research,","page_number":62,"box":{"x":62,"y":686,"width":842,"height":11}},{"id":"b0a25875-12f4-4ae2-ace6-89e7a248c0d5","block_type":"box","text":"external broker and NGO research, benchmarks, and company disclosures and reports to provide accurate data","page_number":62,"box":{"x":62,"y":700,"width":843,"height":11}},{"id":"3c1dd21c-85ab-42b2-9277-ae43dba8b6f4","block_type":"box","text":"and insights into each company. Operational, product and service considerations, alignment to the investment","page_number":62,"box":{"x":62,"y":713,"width":843,"height":12}},{"id":"cfc687dc-984a-49c3-b5a5-78c9830a8cdb","block_type":"box","text":"themes and KPIs will be subject to change overtime, informed by the Investment Manager’s view on the quality and","page_number":62,"box":{"x":62,"y":727,"width":843,"height":11}},{"id":"1c8291c5-11f9-4a96-8e82-6a832ec0a37f","block_type":"box","text":"coverage of available data points, and to respond to evolving developments in the market and best practice.","page_number":62,"box":{"x":62,"y":741,"width":798,"height":11}},{"id":"4557cd19-34fd-468a-b678-d9db578402ed","block_type":"box","text":"Investors should note that, due to the diversity and range of sectors within the Fund’s potential investment universe,","page_number":62,"box":{"x":63,"y":768,"width":841,"height":11}},{"id":"002c7abb-39ec-4152-b0b7-f019ba48038b","block_type":"box","text":"it is unlikely that each investment will positively align to all of the three pillars or to all of the SDGs.","page_number":62,"box":{"x":62,"y":781,"width":724,"height":12}},{"id":"e6f3b228-6ff1-4691-8286-e8678fbb34a9","block_type":"box","text":"Products and Services companies","page_number":62,"box":{"x":63,"y":816,"width":271,"height":11}},{"id":"4a209799-df31-4866-920c-34943c93c364","block_type":"box","text":"Eligibility due to products and services provided by companies is determined by assessing the revenue aligned to","page_number":62,"box":{"x":63,"y":844,"width":860,"height":11}},{"id":"5105c023-ef98-433d-8e47-560611d8c724","block_type":"box","text":"investment themes as described in the table above. This can be products or services in themselves or specific key","page_number":62,"box":{"x":62,"y":857,"width":861,"height":11}},{"id":"64cbde71-0139-41d3-810c-07a988b7f492","block_type":"box","text":"components that enable the delivery of products or services that lead to sustainable outcomes.","page_number":62,"box":{"x":62,"y":871,"width":701,"height":11}},{"id":"94bef1e9-b5e5-4d0b-83b4-91478b2d10c2","block_type":"box","text":"To qualify for investment through its products and services, that company must meet either the necessary “revenue”","page_number":62,"box":{"x":62,"y":898,"width":861,"height":11}},{"id":"729dfacb-a149-4a18-a124-fdf01f153a52","block_type":"box","text":"or “pre-revenue” criteria (as outlined below). Companies meeting this initial revenue criteria are then subject to","page_number":62,"box":{"x":62,"y":912,"width":861,"height":11}},{"id":"ab30601a-e0aa-4e49-a471-b71a82025beb","block_type":"box","text":"additional assessment using the Investment Manager’s proprietary analysis which further examines revenue sources","page_number":62,"box":{"x":62,"y":925,"width":861,"height":12}},{"id":"56349e6a-801e-4217-90ca-f0da13523746","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":63,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"58cce256-0603-4627-b329-6b2d121ad27e","block_type":"box","text":"63","page_number":63,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"f7326714-95a6-4cdc-ae54-0213a418a4da","block_type":"box","text":"Aviva Investors: Confidential","page_number":63,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"8ce79a4a-3df9-48b0-a65c-05fb51c1cc86","block_type":"box","text":"by business segment. Only companies satisfying both the revenue criteria and the additional assessment will be","page_number":63,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"905258d8-60f0-462f-9a84-59f7b0852122","block_type":"box","text":"regarded as eligible for investment by the Sub-Fund.","page_number":63,"box":{"x":63,"y":66,"width":387,"height":11}},{"id":"8c68e4a4-f1be-406b-a253-ec0179afe8af","block_type":"box","text":"To meet the “revenue” criteria, the issuing company must derive at least 20% of its revenues from products or services","page_number":63,"box":{"x":62,"y":94,"width":861,"height":11}},{"id":"f74d33f5-17c7-484b-a548-ee8c118f6d38","block_type":"box","text":"linked to one of the pillars (see above). In most circumstances, a company that meets this 20% threshold: (i) must","page_number":63,"box":{"x":62,"y":107,"width":861,"height":11}},{"id":"856f085e-141e-4b0b-9305-b6e51fa806ab","block_type":"box","text":"also have no revenue from products or services assessed as misaligned to the three pillars; and (ii) there must be no","page_number":63,"box":{"x":62,"y":121,"width":861,"height":11}},{"id":"37514bb3-9394-4a87-94f1-adfc0d1568bd","block_type":"box","text":"evidence available to the Investment Manager that suggests the company is subject to a material controversy on","page_number":63,"box":{"x":62,"y":135,"width":860,"height":11}},{"id":"68935bde-7016-4be5-bc05-42e3213a1fb4","block_type":"box","text":"environmental, human rights or labour-related issues. However, in the event that such misalignment or controversies","page_number":63,"box":{"x":62,"y":148,"width":861,"height":11}},{"id":"ca432af4-477a-4143-bcdd-f397860c1441","block_type":"box","text":"are identified, that issuing company may still be eligible for investment if the Investment Manager identifies - through","page_number":63,"box":{"x":62,"y":162,"width":860,"height":11}},{"id":"027372de-570a-4ef2-ace0-50a468cdf6d0","block_type":"box","text":"its deep dive assessment - credible evidence that such misalignment / controversies are not material and/or are being","page_number":63,"box":{"x":62,"y":175,"width":860,"height":12}},{"id":"6388ec37-03d9-45a6-b36f-385f208193ea","block_type":"box","text":"resolved or mitigated.","page_number":63,"box":{"x":63,"y":189,"width":157,"height":11}},{"id":"0ccd7dad-036c-468d-8db4-63c3996a4239","block_type":"box","text":"To meet the “pre-revenue” criteria, the Investment Manager must identify – through its deep dive assessment –","page_number":63,"box":{"x":62,"y":216,"width":861,"height":12}},{"id":"a1869f85-f0f5-4dab-9995-3830262dea1f","block_type":"box","text":"credible evidence that the company is in the early stages of providing a product / service linked to one of the three","page_number":63,"box":{"x":62,"y":230,"width":861,"height":11}},{"id":"32bbb59c-4ea0-495c-9570-e63e3caa3ff0","block_type":"box","text":"pillars and is projected to derive at least 20% of its revenue from that product/service in the future. The Investment","page_number":63,"box":{"x":62,"y":244,"width":861,"height":11}},{"id":"3f529c50-6cf0-40d7-858a-b221a2830ff2","block_type":"box","text":"Manager will therefore require evidence (such as a formal commitment made in public or through direct engagement","page_number":63,"box":{"x":63,"y":257,"width":860,"height":12}},{"id":"7bb475a1-607c-491d-ad19-1488ca96a6e5","block_type":"box","text":"with the company) that the company is investing in, researching and developing sustainable products/services, and","page_number":63,"box":{"x":62,"y":271,"width":860,"height":11}},{"id":"313b9fd8-0e06-4d3f-9666-308c087f8791","block_type":"box","text":"that such products/services are likely to be a material (i.e. at least 20%) revenue stream for the company over time.","page_number":63,"box":{"x":62,"y":285,"width":860,"height":11}},{"id":"85481f85-d18e-47b5-89aa-d2b8f447bd41","block_type":"box","text":"In the case of issuers that are in the early stages of development or investment where there is no revenue data","page_number":63,"box":{"x":63,"y":298,"width":860,"height":12}},{"id":"3f694e8a-3e15-46b4-95b4-0f69d3cc65a1","block_type":"box","text":"available yet, the Investment Manager may employ bespoke financial models to estimate the revenue potential of the","page_number":63,"box":{"x":62,"y":312,"width":861,"height":11}},{"id":"618b95b3-9452-4750-90ba-268282cbef77","block_type":"box","text":"business segment that can capture the unique nature of such investments.","page_number":63,"box":{"x":62,"y":326,"width":552,"height":11}},{"id":"ce973cb6-9e44-4fb2-9db5-3914b337bd35","block_type":"box","text":"Operations companies","page_number":63,"box":{"x":62,"y":353,"width":180,"height":11}},{"id":"f5447651-403d-4276-971f-3820dcb5e0a5","block_type":"box","text":"To qualify for investment as an “operations” company, that company will need to demonstrate that it is aligned or is","page_number":63,"box":{"x":62,"y":380,"width":861,"height":11}},{"id":"708c8af7-bddd-44c0-8f65-619d054c340c","block_type":"box","text":"actively aligning its business models and operations to one or more of the investment themes linked to the three pillars","page_number":63,"box":{"x":62,"y":394,"width":861,"height":11}},{"id":"23a1ca96-8439-4c6b-9703-ade464cb9e76","block_type":"box","text":"(see the table above). The Investment Manager will assess the company’s policies, practices and performance","page_number":63,"box":{"x":63,"y":408,"width":860,"height":11}},{"id":"b8c04130-d99e-49cc-bdaf-31da06faa642","block_type":"box","text":"against these investment themes, for example:","page_number":63,"box":{"x":62,"y":421,"width":345,"height":11}},{"id":"978310ec-8470-456e-bdec-99d5b1eac7ca","block_type":"box","text":"-","page_number":63,"box":{"x":68,"y":454,"width":4,"height":1}},{"id":"bec1a040-f54f-44c6-9afa-55d7fb015d52","block_type":"box","text":"Policies","page_number":63,"box":{"x":130,"y":449,"width":62,"height":9}},{"id":"349d7821-8429-4605-96a5-89a42af714ca","block_type":"box","text":":","page_number":63,"box":{"x":193,"y":451,"width":3,"height":6}},{"id":"74970553-78bd-4cba-b957-ae7b5e9fffd3","block_type":"box","text":"Publicly disclosed statements and commitments that detail the company’s approach, governance","page_number":63,"box":{"x":204,"y":449,"width":719,"height":11}},{"id":"d0df9b8c-59c4-4850-a98f-7c93ee3cda59","block_type":"box","text":"and risk assessment frameworks for social and environmental issues. This can include the company’s","page_number":63,"box":{"x":129,"y":462,"width":794,"height":11}},{"id":"a12786fc-c5aa-4203-ab72-508f11c94570","block_type":"box","text":"published policies for specific themes (e.g. biodiversity protection policy, for example), or broader company","page_number":63,"box":{"x":129,"y":476,"width":794,"height":11}},{"id":"7b55c2b5-6ccc-4a95-b051-9b2077a86169","block_type":"box","text":"disclosures through widely accepted governance reporting frameworks (for example, the environmental","page_number":63,"box":{"x":129,"y":490,"width":794,"height":11}},{"id":"5515dffd-2dd5-4564-95cc-64875a2aa2e3","block_type":"box","text":"disclosure and scoring system operated by organisations such as CDP Worldwide).","page_number":63,"box":{"x":129,"y":503,"width":617,"height":12}},{"id":"f4da4c8b-a7f0-4d92-9749-5d3c2a263d75","block_type":"box","text":"-","page_number":63,"box":{"x":68,"y":523,"width":4,"height":0}},{"id":"32ead4ea-ac39-4bf7-a79f-3d27784e8b02","block_type":"box","text":"Practices","page_number":63,"box":{"x":130,"y":517,"width":73,"height":9}},{"id":"311ce4ca-1179-4b01-8e22-f91044788ecb","block_type":"box","text":":","page_number":63,"box":{"x":204,"y":520,"width":3,"height":6}},{"id":"e8e9b4ea-4043-416b-9073-7f67b6165f38","block_type":"box","text":"Commitments to specific company actions within its operations to manage and mitigate social","page_number":63,"box":{"x":215,"y":517,"width":707,"height":11}},{"id":"26fbb7e3-7d32-43c1-85ec-3eee011c3761","block_type":"box","text":"and environmental issues. This can include specific programmes (e.g., programs to facilitate workforce","page_number":63,"box":{"x":129,"y":531,"width":794,"height":11}},{"id":"8e363153-9838-4f81-9c8b-12b48b0697db","block_type":"box","text":"diversity), participating in best practice external initiatives (e.g., UN Global Compact signatory) and setting","page_number":63,"box":{"x":129,"y":544,"width":793,"height":12}},{"id":"851e0f47-e027-4792-a868-3f01b38b1c12","block_type":"box","text":"or committing to setting quantitative targets (e.g., Science Based Target initiative (SBTi) verification or","page_number":63,"box":{"x":129,"y":558,"width":795,"height":11}},{"id":"c87953b2-3193-47a6-b7a2-d02909f01693","block_type":"box","text":"equivalent emission reduction target) within its business models, strategy and operations.","page_number":63,"box":{"x":129,"y":572,"width":661,"height":11}},{"id":"33de3057-1c7c-4c3b-ac23-d43bbf27025b","block_type":"box","text":"-","page_number":63,"box":{"x":68,"y":591,"width":4,"height":1}},{"id":"87fddcfc-1ffb-449e-9404-6f2f6712102f","block_type":"box","text":"Performance","page_number":63,"box":{"x":130,"y":586,"width":102,"height":8}},{"id":"04754777-96b6-4158-ba5b-aa46396c957a","block_type":"box","text":":","page_number":63,"box":{"x":232,"y":588,"width":3,"height":6}},{"id":"aa289f8b-1ec9-4b71-bb4f-de7e57fb40f7","block_type":"box","text":"Realised performance on specific social and environmental issues or progress towards","page_number":63,"box":{"x":246,"y":586,"width":677,"height":11}},{"id":"265e7e8e-90da-4130-a401-5482222e5242","block_type":"box","text":"internal targets (e.g., percentage of women directors, for example).","page_number":63,"box":{"x":129,"y":599,"width":494,"height":12}},{"id":"b8a1ad1a-e7fb-4bb4-982a-825a0728225a","block_type":"box","text":"The table below describes the guiding principles used to determine eligibility.","page_number":63,"box":{"x":62,"y":627,"width":568,"height":11}},{"id":"2fe57e7f-e5e8-4c34-98e4-ba114ec3c5ef","block_type":"box","text":"An operations company must pass the Baseline and Controversies criteria.","page_number":63,"box":{"x":71,"y":643,"width":539,"height":10}},{"id":"61c484ae-b3b5-49fa-b5bc-cb0a5b72aef2","block_type":"box","text":"Baseline","page_number":63,"box":{"x":72,"y":707,"width":56,"height":8}},{"id":"2180065d-ebc0-4ccd-b6e6-cf9a1ee76332","block_type":"box","text":"The company maintains a baseline of high social standards and supports the","page_number":63,"box":{"x":202,"y":670,"width":545,"height":10}},{"id":"b5fb697a-f050-4968-8e51-cd5ed187fc6e","block_type":"box","text":"transition to a carbon neutral future. Specifically, the company must:","page_number":63,"box":{"x":202,"y":682,"width":453,"height":11}},{"id":"33118244-8dad-46de-bc48-cc8ee271f9de","block_type":"box","text":"","page_number":63,"box":{"x":233,"y":709,"width":4,"height":4}},{"id":"17c45321-8283-47b8-aff1-8fc8e5f2b2c9","block_type":"box","text":"Have targets for carbon reduction","page_number":63,"box":{"x":263,"y":707,"width":222,"height":10}},{"id":"4de6d57d-2aec-4b08-b57a-b932345b9610","block_type":"box","text":"","page_number":63,"box":{"x":233,"y":722,"width":4,"height":3}},{"id":"b3c9883f-bdde-4a55-bb96-43218b90747e","block_type":"box","text":"Have a human rights policy","page_number":63,"box":{"x":263,"y":720,"width":181,"height":10}},{"id":"8949842b-8b24-420f-9bb8-d8d4e2d6e692","block_type":"box","text":"","page_number":63,"box":{"x":233,"y":734,"width":4,"height":3}},{"id":"8b7d438b-fb24-4e21-953f-4abec056acf0","block_type":"box","text":"Comply with the International Labour Organisation’s (ILO) standards","page_number":63,"box":{"x":262,"y":732,"width":456,"height":10}},{"id":"7f0f1ff8-1b88-47a3-a564-0a40ee8f1de5","block_type":"box","text":"","page_number":63,"box":{"x":233,"y":746,"width":4,"height":4}},{"id":"046634fb-1c0d-4ba8-aed5-765a60550bd3","block_type":"box","text":"Have programs to facilitate workforce diversity","page_number":63,"box":{"x":263,"y":744,"width":308,"height":10}},{"id":"00a40321-c5b2-4747-96f9-148676f5bb17","block_type":"box","text":"Controversies","page_number":63,"box":{"x":71,"y":818,"width":92,"height":8}},{"id":"b4899d7e-c18e-422f-93dd-b030e9716d0f","block_type":"box","text":"The company demonstrates effective mitigation and remediation of potentially","page_number":63,"box":{"x":202,"y":781,"width":546,"height":11}},{"id":"7935651d-497c-4f22-aa16-869ebb4a0a4a","block_type":"box","text":"harmful activities.","page_number":63,"box":{"x":202,"y":794,"width":115,"height":8}},{"id":"f82534b9-eb4c-40dc-9546-b87d0c42eccf","block_type":"box","text":"OR","page_number":63,"box":{"x":202,"y":818,"width":21,"height":8}},{"id":"fe23eb5b-f9ea-42e3-a55b-c8f9ea07b9de","block_type":"box","text":"The company demonstrates robust policies and procedures that prevent the","page_number":63,"box":{"x":202,"y":843,"width":545,"height":10}},{"id":"e4f3fcc4-5b7e-4553-aada-cd83060db063","block_type":"box","text":"occurrence of harmful controversies.","page_number":63,"box":{"x":202,"y":855,"width":243,"height":8}},{"id":"be465035-d063-4c9e-ab94-d64c84da9a98","block_type":"box","text":"An operations company must also pass the criteria for either Climate, Earth or People.","page_number":63,"box":{"x":71,"y":883,"width":619,"height":10}},{"id":"ed7bf14a-f37a-4693-bbe5-521b4eeb1980","block_type":"box","text":"Climate","page_number":63,"box":{"x":71,"y":899,"width":50,"height":8}},{"id":"e9223e88-245e-4e48-b850-e6779d2f02f8","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":64,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"bbc6d4be-96b9-44cd-8646-dcb337df66a7","block_type":"box","text":"64","page_number":64,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"79eda106-5110-4edf-a430-1433ceec6fd7","block_type":"box","text":"Aviva Investors: Confidential","page_number":64,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"005cb22f-c000-4f2d-9e18-58c35d2ca469","block_type":"box","text":"The company has robust targets to align its emissions to a low carbon future and","page_number":64,"box":{"x":202,"y":53,"width":545,"height":10}},{"id":"5c97d71b-bc7d-474f-bbe1-71cedc8ab261","block_type":"box","text":"is demonstrating its commitment through its strategy, reporting, and staying on","page_number":64,"box":{"x":202,"y":65,"width":545,"height":10}},{"id":"8f0078e9-d780-41f5-b362-5cfcc6c5cce4","block_type":"box","text":"track with its targets.","page_number":64,"box":{"x":202,"y":77,"width":136,"height":11}},{"id":"4aaab1b1-065f-4430-aba3-1ed71d09aa14","block_type":"box","text":"OR","page_number":64,"box":{"x":202,"y":102,"width":21,"height":8}},{"id":"d85b6ac9-8065-4cb1-bce6-d446ef2838eb","block_type":"box","text":"The company has a net zero carbon footprint and maintains robust standards for","page_number":64,"box":{"x":202,"y":127,"width":546,"height":10}},{"id":"61c05849-c6e7-4083-acfe-db3705d3da2d","block_type":"box","text":"carbon emissions management at the operational and supply chain levels.","page_number":64,"box":{"x":202,"y":139,"width":494,"height":10}},{"id":"f9e759a8-bc88-40f6-b48e-288c03d48661","block_type":"box","text":"Earth","page_number":64,"box":{"x":72,"y":219,"width":34,"height":8}},{"id":"8c98196e-d97d-4cc8-a5ff-4fdaad8d67cb","block_type":"box","text":"The company has policies and procedures in place to effectively monitor and","page_number":64,"box":{"x":202,"y":176,"width":545,"height":10}},{"id":"9547adc5-f90a-4e43-8d51-853909c582b8","block_type":"box","text":"mitigate its impacts on the environment and is taking steps to align its","page_number":64,"box":{"x":202,"y":189,"width":545,"height":10}},{"id":"bb40813b-7592-4550-8d62-dd146baeb58f","block_type":"box","text":"environmental footprint to a nature positive future.","page_number":64,"box":{"x":202,"y":201,"width":331,"height":10}},{"id":"846f2599-2d0c-4c6f-8e2d-90aa98f4903a","block_type":"box","text":"OR","page_number":64,"box":{"x":202,"y":226,"width":21,"height":7}},{"id":"43856865-7e32-4a82-be16-6fd210c0ed00","block_type":"box","text":"The company does not have an adverse impact on the environment and maintains","page_number":64,"box":{"x":202,"y":250,"width":545,"height":10}},{"id":"f8162da4-0e4a-4152-8b66-fd338d8b0249","block_type":"box","text":"the robust standards for managing its environmental footprint.","page_number":64,"box":{"x":202,"y":262,"width":410,"height":10}},{"id":"53295a09-0882-4c92-b620-5f757a27b8cf","block_type":"box","text":"People","page_number":64,"box":{"x":72,"y":343,"width":45,"height":10}},{"id":"871598cf-23e6-4814-a54d-d82c437f04c1","block_type":"box","text":"The company demonstrates a commitment to achieving high standards of","page_number":64,"box":{"x":202,"y":300,"width":546,"height":10}},{"id":"f80be915-73d6-492e-9964-f67f4591218a","block_type":"box","text":"corporate responsibility, human capital management, and workforce diversity and","page_number":64,"box":{"x":202,"y":312,"width":545,"height":10}},{"id":"1ca9760c-e240-4b9f-af7a-f1ab98687383","block_type":"box","text":"is taking steps to improve processes and deliver effective remediation of issues.","page_number":64,"box":{"x":202,"y":324,"width":532,"height":10}},{"id":"d06cd0b8-caf7-43bd-b05f-336e585c949c","block_type":"box","text":"OR","page_number":64,"box":{"x":202,"y":349,"width":21,"height":8}},{"id":"69770aa9-7084-49da-aa6f-9779d8b7a0b7","block_type":"box","text":"The company demonstrates robust standards of corporate responsibility, human","page_number":64,"box":{"x":202,"y":374,"width":545,"height":10}},{"id":"5206d824-f505-45ce-972f-80a08c2c6437","block_type":"box","text":"capital management, and workforce diversity.","page_number":64,"box":{"x":202,"y":386,"width":302,"height":10}},{"id":"aa1b13e4-2ff3-4e4a-a520-5790eef4cfa2","block_type":"box","text":"To meet the operations criteria, there must be no evidence available to the Investment Manager that suggests the","page_number":64,"box":{"x":62,"y":425,"width":861,"height":11}},{"id":"8d203c75-d604-4981-8a78-b8e6c1e0bd25","block_type":"box","text":"company is subject to a material controversy on environmental, human rights or labour-related issues. However, in","page_number":64,"box":{"x":62,"y":439,"width":860,"height":11}},{"id":"66f2794d-be9b-446d-abac-efde89253770","block_type":"box","text":"the event that such controversies are identified, that issuing company may still be eligible for investment if the","page_number":64,"box":{"x":62,"y":452,"width":861,"height":12}},{"id":"7ccb824d-c7b0-4f9a-8270-9975d90c1262","block_type":"box","text":"Investment Manager identifies - through its deep dive assessment - credible evidence that such controversies are not","page_number":64,"box":{"x":63,"y":466,"width":860,"height":11}},{"id":"b0a3c3f0-d42d-443d-b744-b40a6fa796b5","block_type":"box","text":"material and/or are being resolved or mitigated.","page_number":64,"box":{"x":62,"y":479,"width":350,"height":12}},{"id":"68938c15-d87f-4691-9305-9808294d5f2d","block_type":"box","text":"Monitoring","page_number":64,"box":{"x":63,"y":514,"width":84,"height":11}},{"id":"d6f7a595-9f72-4384-9c64-6ad6f817de0e","block_type":"box","text":"Once an investment is made, it is monitored by the Investment Manager to ensure that it continues to meet the","page_number":64,"box":{"x":62,"y":542,"width":843,"height":11}},{"id":"aa86a5a5-1115-4260-b097-5745b5fbb8a3","block_type":"box","text":"requirements of the investment framework. If the available data indicates that this is no longer the case, the","page_number":64,"box":{"x":63,"y":555,"width":842,"height":11}},{"id":"91071439-b8a2-4ba9-a2ac-471e109b777c","block_type":"box","text":"Investment Manager will conduct a qualitative review of the relevant company. If the Investment Manager","page_number":64,"box":{"x":63,"y":569,"width":843,"height":11}},{"id":"730383ad-7e4e-4c86-92d0-eb41178672a2","block_type":"box","text":"subsequently determines that the company no longer meets the requirements of the investment framework, it will","page_number":64,"box":{"x":62,"y":583,"width":843,"height":11}},{"id":"70f5e5ea-f720-4317-9905-76a58c01b5cc","block_type":"box","text":"be disposed of as soon as reasonably practicable having regard to the interests of investors in the Sub-Fund.","page_number":64,"box":{"x":62,"y":596,"width":807,"height":12}},{"id":"87861eec-94e3-4033-b693-5e9dd81b3814","block_type":"box","text":"Engagement","page_number":64,"box":{"x":63,"y":630,"width":99,"height":11}},{"id":"bbe47492-c1eb-481b-89a9-8f49e84eeb35","block_type":"box","text":"The Investment Manager engages with investee companies on thematic issues with the aim of positively influencing","page_number":64,"box":{"x":62,"y":663,"width":860,"height":11}},{"id":"313fc17c-ce3b-49c3-adc2-b26a0c50a870","block_type":"box","text":"sustainable behaviours. Thematic engagement programmes will target a subset of companies within the Sub- Fund,","page_number":64,"box":{"x":62,"y":676,"width":860,"height":12}},{"id":"f46a38f9-798c-48ab-89e4-f6867b01f9ce","block_type":"box","text":"with specific engagement asks for companies to pursue progress on key themes and areas captured by the","page_number":64,"box":{"x":62,"y":690,"width":861,"height":11}},{"id":"8527ac11-e2b4-41bf-935b-442d3e951bc6","block_type":"box","text":"investment framework. Engagement may also be conducted if, in the Investment Manager’s view, new data emerges","page_number":64,"box":{"x":62,"y":704,"width":861,"height":11}},{"id":"e8e662b8-9079-4e1d-a9ca-3b69b89bfad3","block_type":"box","text":"that suggests an investee company’s practices may be falling short of expectations and/or potentially no longer meet","page_number":64,"box":{"x":62,"y":717,"width":861,"height":12}},{"id":"c5915bed-ae46-4464-a63c-59cd3e6c0392","block_type":"box","text":"the requirements of the investment framework.","page_number":64,"box":{"x":62,"y":731,"width":344,"height":11}},{"id":"9ef69565-0690-4564-aefb-865a88875d15","block_type":"box","text":"Measurement and KPIs","page_number":64,"box":{"x":63,"y":770,"width":182,"height":9}},{"id":"7c9332ae-99f4-42c8-b15e-20d571d2c332","block_type":"box","text":"On an ongoing basis, the Investment Manager will monitor the Sub-Fund’s holdings against a range of key","page_number":64,"box":{"x":62,"y":803,"width":861,"height":12}},{"id":"1d36caab-f83f-410a-a5a9-79f0f76fb7d3","block_type":"box","text":"performance indicators to ensure that they remain compliant with the investment framework. To allow assessment of","page_number":64,"box":{"x":62,"y":817,"width":861,"height":11}},{"id":"0166248e-b2b4-4cf1-af14-170a02ad974e","block_type":"box","text":"the Sub-Fund’s minimum stewardship allocation, performance against a range of key indicators will be reported to","page_number":64,"box":{"x":62,"y":831,"width":861,"height":11}},{"id":"6c7a9f7e-bec8-491a-8533-2eb997c96efc","block_type":"box","text":"investors annually, describing the relevant methodologies used and highlighting any material data considerations.","page_number":64,"box":{"x":62,"y":845,"width":860,"height":11}},{"id":"b2492241-7d7c-4034-8ce9-13c5c16a211c","block_type":"box","text":"This annual report will include:","page_number":64,"box":{"x":62,"y":858,"width":224,"height":11}},{"id":"72644113-da5a-4d73-a002-5510ef9f90e3","block_type":"box","text":"Fund*","page_number":64,"box":{"x":397,"y":886,"width":42,"height":8}},{"id":"b5066325-17f9-4aba-b479-2532299255dd","block_type":"box","text":"Data provided for Volatility","page_number":64,"box":{"x":560,"y":886,"width":191,"height":10}},{"id":"6c140822-a4d5-46da-a28d-131a46b48f29","block_type":"box","text":"Index (comparator)?","page_number":64,"box":{"x":583,"y":898,"width":144,"height":10}},{"id":"d3299b90-b00b-47d3-8298-2c13acd0659c","block_type":"box","text":"Products and Services","page_number":64,"box":{"x":72,"y":911,"width":150,"height":8}},{"id":"1df5e70d-da07-450b-b3bb-adb42644829b","block_type":"box","text":"%","page_number":64,"box":{"x":412,"y":911,"width":12,"height":8}},{"id":"7f493fa9-b2da-4a4a-8e95-fb8cd69338ea","block_type":"box","text":"Yes","page_number":64,"box":{"x":642,"y":911,"width":26,"height":8}},{"id":"adfca35d-1c56-45ca-8740-f8853bad5677","block_type":"box","text":"Operations","page_number":64,"box":{"x":71,"y":924,"width":73,"height":10}},{"id":"33c558a5-ad56-4d81-90c9-ea1763043645","block_type":"box","text":"%","page_number":64,"box":{"x":412,"y":924,"width":12,"height":8}},{"id":"b36e6f3b-460f-403f-aebf-fffe1489dc81","block_type":"box","text":"Yes","page_number":64,"box":{"x":642,"y":924,"width":26,"height":8}},{"id":"f1024bf3-57a4-46fa-8208-ee5a9e940e92","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":65,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"603e0d9a-5eae-4aad-a6cd-9df68c8bdd65","block_type":"box","text":"65","page_number":65,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"be302406-1438-4bef-806f-7aed50cffe39","block_type":"box","text":"Aviva Investors: Confidential","page_number":65,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"394a084a-83ab-4058-abdc-d19aa027428f","block_type":"box","text":"Climate:","page_number":65,"box":{"x":72,"y":53,"width":57,"height":8}},{"id":"ba29356f-9989-42fb-8455-682da4e2a9f3","block_type":"box","text":"SBTi approved emission targets","page_number":65,"box":{"x":72,"y":66,"width":213,"height":10}},{"id":"d7441be5-9d18-458d-8aae-fc71cb11996d","block_type":"box","text":"%","page_number":65,"box":{"x":412,"y":66,"width":12,"height":8}},{"id":"8df0ea36-6c69-4abd-8ab5-ae94467bcc5b","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":66,"width":26,"height":8}},{"id":"4878bbf7-d1ec-4dff-bc2d-1fcfe549a5a1","block_type":"box","text":"SBTi committed emission targets","page_number":65,"box":{"x":72,"y":79,"width":218,"height":10}},{"id":"bf1495b4-398e-4317-92ec-4e164129e57d","block_type":"box","text":"%","page_number":65,"box":{"x":412,"y":79,"width":12,"height":8}},{"id":"98df3a00-a150-40c2-8792-7a93ad621dcc","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":79,"width":26,"height":8}},{"id":"b91e1af6-102f-4c93-84ad-a7b223688a82","block_type":"box","text":"CDP Score A-C","page_number":65,"box":{"x":72,"y":91,"width":104,"height":8}},{"id":"f486b550-0fe9-400a-aa43-91f6e08a9170","block_type":"box","text":"%","page_number":65,"box":{"x":412,"y":92,"width":12,"height":7}},{"id":"53925db4-5e47-4093-a7d2-e78446a07b86","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":92,"width":26,"height":7}},{"id":"a64902b6-6f5f-412d-b4f9-657698dc238c","block_type":"box","text":"CDP Score D-F","page_number":65,"box":{"x":72,"y":104,"width":104,"height":8}},{"id":"71765048-cc8f-4d1d-be09-8d11f95cc3ba","block_type":"box","text":"%","page_number":65,"box":{"x":412,"y":105,"width":12,"height":7}},{"id":"73c4276f-9ebf-4d82-9b0b-c6129ff117e1","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":104,"width":26,"height":8}},{"id":"7cba5cf7-9338-4cf2-b9f4-8d1fe9bc28a1","block_type":"box","text":"No CDP Score","page_number":65,"box":{"x":72,"y":117,"width":98,"height":8}},{"id":"1ef96a75-41f1-43a1-94ac-f350750aaddd","block_type":"box","text":"%","page_number":65,"box":{"x":412,"y":118,"width":12,"height":7}},{"id":"3eb0b63c-0fb5-4832-8bbf-f53a5ee19209","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":117,"width":26,"height":8}},{"id":"e452474f-9ddc-4bb9-8837-63bb83ac4ae4","block_type":"box","text":"Earth:","page_number":65,"box":{"x":72,"y":130,"width":41,"height":8}},{"id":"a6ac9983-89d5-4ef8-8b6a-52f2ac08df83","block_type":"box","text":"Biodiversity policy","page_number":65,"box":{"x":72,"y":143,"width":119,"height":10}},{"id":"08b92cfb-8afd-4072-b939-0dfac9297e98","block_type":"box","text":"%","page_number":65,"box":{"x":412,"y":143,"width":12,"height":8}},{"id":"fb096906-74ec-4f84-87ba-e7273915ff9d","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":143,"width":26,"height":8}},{"id":"0a57e545-8979-4f0f-a3fa-40b2bfc5af1c","block_type":"box","text":"Deforestation policy","page_number":65,"box":{"x":72,"y":156,"width":132,"height":10}},{"id":"6699af1d-de70-45ce-8f9f-a90e01c5d6f0","block_type":"box","text":"%","page_number":65,"box":{"x":412,"y":156,"width":12,"height":8}},{"id":"1e7368a7-c91f-44f8-842b-c0559bcbb91b","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":156,"width":26,"height":8}},{"id":"71d3b1ee-57a0-4d8e-b216-ea79af694dbf","block_type":"box","text":"Number of companies with","page_number":65,"box":{"x":72,"y":169,"width":217,"height":10}},{"id":"5e4ee24a-c6fa-4d2b-8e1c-b48198464521","block_type":"box","text":"severe environmental","page_number":65,"box":{"x":71,"y":181,"width":218,"height":8}},{"id":"5881a39f-cbb4-4fdd-a174-3b6f8f05e2bc","block_type":"box","text":"controversies×","page_number":65,"box":{"x":71,"y":194,"width":98,"height":7}},{"id":"9e02575f-f4b2-4346-acf3-a26877b8a8f5","block_type":"box","text":"#","page_number":65,"box":{"x":414,"y":169,"width":7,"height":8}},{"id":"e34c1cbd-3833-4805-945c-1fc524c27ba8","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":169,"width":26,"height":8}},{"id":"c2377d3f-64e6-4cad-b216-68e2c3dd83c3","block_type":"box","text":"People:","page_number":65,"box":{"x":72,"y":206,"width":52,"height":10}},{"id":"816307dc-285e-4d2a-a697-cd57325d1113","block_type":"box","text":"Human rights due diligence","page_number":65,"box":{"x":72,"y":219,"width":182,"height":10}},{"id":"8b924a32-7e19-489b-9303-b8bee251fefd","block_type":"box","text":"%","page_number":65,"box":{"x":412,"y":219,"width":12,"height":8}},{"id":"53f061b1-e694-41b5-9a32-67013435d11b","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":219,"width":26,"height":8}},{"id":"2f41e591-d079-4541-88a2-ff4cd3ee9ccb","block_type":"box","text":"Board gender diversity","page_number":65,"box":{"x":72,"y":232,"width":150,"height":10}},{"id":"1df0c8bb-b242-4312-a9aa-c394f2e43238","block_type":"box","text":"%","page_number":65,"box":{"x":412,"y":232,"width":12,"height":8}},{"id":"c1e13133-4f18-4500-a045-238b6e478295","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":232,"width":26,"height":8}},{"id":"55f8cb42-47f1-43b2-8723-09ab0ba6d67b","block_type":"box","text":"Number of companies with","page_number":65,"box":{"x":72,"y":245,"width":217,"height":10}},{"id":"8e575952-6ca9-4396-86e8-f45950b5614b","block_type":"box","text":"severe human rights","page_number":65,"box":{"x":71,"y":257,"width":219,"height":10}},{"id":"843f6318-762b-4231-aa5b-e67f0ffdde86","block_type":"box","text":"controversies×","page_number":65,"box":{"x":71,"y":270,"width":98,"height":7}},{"id":"50110b15-6f5f-46e9-aea0-1f1fa1ee1814","block_type":"box","text":"#","page_number":65,"box":{"x":414,"y":245,"width":7,"height":8}},{"id":"a91f5353-a795-4691-b736-62533554656c","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":245,"width":26,"height":8}},{"id":"7ad79627-6405-454a-85b0-1448815e4657","block_type":"box","text":"Number of companies with","page_number":65,"box":{"x":72,"y":282,"width":217,"height":10}},{"id":"49224a15-291e-49fa-a6f2-46d23e896117","block_type":"box","text":"severe labour rights","page_number":65,"box":{"x":71,"y":295,"width":219,"height":10}},{"id":"99913c11-57b8-491c-8a82-bbda6d46a1a4","block_type":"box","text":"controversies×","page_number":65,"box":{"x":71,"y":307,"width":98,"height":8}},{"id":"cb7694f0-0c61-4dfc-8dbc-828440578c62","block_type":"box","text":"#","page_number":65,"box":{"x":414,"y":283,"width":7,"height":7}},{"id":"863740b6-d1b5-482b-85a1-0dfb11135d49","block_type":"box","text":"Yes","page_number":65,"box":{"x":642,"y":282,"width":26,"height":8}},{"id":"b2f8dc2b-a730-4d13-a72d-674605b6fd1a","block_type":"box","text":"Source: MSCI, Aladdin, Aviva Investors, CDP Scores, SBTi and CBI.","page_number":65,"box":{"x":62,"y":320,"width":407,"height":8}},{"id":"14600a6f-e837-4fd2-b9d4-1ffe0baeedeb","block_type":"box","text":"* Percentage of the Portfolio, based on market value.","page_number":65,"box":{"x":62,"y":331,"width":314,"height":9}},{"id":"543d3260-58f3-4be7-9907-a4ecb44d5cf3","block_type":"box","text":"× MSCI data tool indicates a “red” or “amber” flag warning of a “very severe” or a “severe” controversy. Red flags are automatically excluded and","page_number":65,"box":{"x":62,"y":341,"width":861,"height":9}},{"id":"4028384d-8073-4c5b-a05f-92d90dd3e910","block_type":"box","text":"therefore are not reflected in the KPI; this KPI shows amber flags (if any) in the portfolio. For an “amber” flagged company to be included in the","page_number":65,"box":{"x":62,"y":352,"width":861,"height":9}},{"id":"aaf05aea-ac61-4c4c-9434-225dbdf2d732","block_type":"box","text":"Fund’s minimum stewardship allocation, credible evidence available to the Investment Manager that MSCI’s methodology has not been applied","page_number":65,"box":{"x":63,"y":363,"width":860,"height":9}},{"id":"247bb6be-70d2-436c-8310-c576c8017e93","block_type":"box","text":"consistently and the company should not, in the Investment Manager’s view, be flagged.","page_number":65,"box":{"x":62,"y":374,"width":522,"height":9}},{"id":"f085c25c-804b-47c0-a1dc-78c693dad789","block_type":"box","text":"The annual report will also update investors on the progress of the Investment Manager’s engagement activities.","page_number":65,"box":{"x":62,"y":399,"width":832,"height":12}},{"id":"84eb6c0b-7116-47da-a76a-c7bf75d9453e","block_type":"box","text":"Reporting will use data outputs from MSCI under the MSCI SDG Alignment Methodology. As the MSCI","page_number":65,"box":{"x":63,"y":432,"width":759,"height":12}},{"id":"25b25050-97f4-4490-a867-c0a350acd960","block_type":"box","text":"methodology is only one of several information sources used by the Investment Manager pursuant to the investment","page_number":65,"box":{"x":62,"y":446,"width":861,"height":11}},{"id":"7a926d5d-0b6c-4c40-a70b-ce517f79e0dd","block_type":"box","text":"framework, the Investment Manager does not base their investment selection on this methodology. However, the","page_number":65,"box":{"x":62,"y":460,"width":835,"height":11}},{"id":"581e01d3-747a-487a-8c8b-ee5321e99014","block_type":"box","text":"MSCI methodology is considered currently aligned with the Investment Manager’s investment philosophy and","page_number":65,"box":{"x":63,"y":474,"width":808,"height":11}},{"id":"495492fa-6a7e-43b2-a352-16b0a08b98f6","block_type":"box","text":"provides a holistic view on overall alignment to each of the SDGs. As the Investment Manager has developed its","page_number":65,"box":{"x":62,"y":487,"width":831,"height":11}},{"id":"b17033d2-cb22-45eb-a538-48deb7469ab0","block_type":"box","text":"proprietary investment framework to encapsulate the aims of the SDGs, it is therefore appropriate as a comparator","page_number":65,"box":{"x":62,"y":501,"width":849,"height":11}},{"id":"995d1af4-c50f-40ce-bd7a-07b3b5cb6a5f","block_type":"box","text":"to give market context and a third-party view of SDG alignment, purely to assist investors in assessing the","page_number":65,"box":{"x":62,"y":514,"width":784,"height":12}},{"id":"20d8746f-e238-4add-a235-66a97e176e9e","block_type":"box","text":"characteristics of the Sub-Fund.","page_number":65,"box":{"x":62,"y":528,"width":235,"height":9}},{"id":"9579f19f-41ea-4945-a69b-4228d69396fd","block_type":"box","text":"Additional Information","page_number":65,"box":{"x":62,"y":548,"width":177,"height":9}},{"id":"f6efb494-40d4-443c-9ccf-11d35abe1dfb","block_type":"box","text":"Investment Manager","page_number":65,"box":{"x":118,"y":574,"width":151,"height":11}},{"id":"cb51b6d6-9bd6-4cdc-8b42-e839ef36469e","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":65,"box":{"x":352,"y":574,"width":294,"height":9}},{"id":"5a332fa4-0298-42b6-bf3b-a489f13f8c5f","block_type":"box","text":"Type of Units","page_number":65,"box":{"x":116,"y":600,"width":98,"height":11}},{"id":"8f6784fb-f258-479d-b065-03c1185a6a0d","block_type":"box","text":"UK Corporate Accumulation Units","page_number":65,"box":{"x":353,"y":600,"width":250,"height":11}},{"id":"7a532c9f-0830-47a4-a672-1f5b066c5f8a","block_type":"box","text":"Insured Pension Accumulation Units","page_number":65,"box":{"x":354,"y":626,"width":267,"height":9}},{"id":"b10d1a6a-739e-4eff-9f88-a69820aaa7d5","block_type":"box","text":"UK Institutional Accumulation Units","page_number":65,"box":{"x":353,"y":652,"width":260,"height":9}},{"id":"1ee6aa7c-ae07-4832-9861-c9b7187f5c7e","block_type":"box","text":"UK Feeder Fund Accumulation Units","page_number":65,"box":{"x":353,"y":679,"width":271,"height":8}},{"id":"21425b9e-0054-4fab-b3df-f79eabf55ec7","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":65,"box":{"x":353,"y":705,"width":275,"height":8}},{"id":"436f40c8-eff8-44a9-858d-43f5135178d7","block_type":"box","text":"Dealing Day","page_number":65,"box":{"x":118,"y":731,"width":89,"height":11}},{"id":"d851d65d-121b-4fbe-b885-dbc93dbf988a","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":65,"box":{"x":354,"y":731,"width":393,"height":11}},{"id":"734d40a0-6485-4c49-b309-23c296fbde55","block_type":"box","text":"Deal Cut-Off Point","page_number":65,"box":{"x":118,"y":757,"width":134,"height":9}},{"id":"ac45d125-e3db-4f81-ab84-930e5193d0b3","block_type":"box","text":"12.00 noon","page_number":65,"box":{"x":354,"y":757,"width":81,"height":9}},{"id":"5abfe741-16eb-41f4-810a-529528d2be83","block_type":"box","text":"Valuation Point","page_number":65,"box":{"x":117,"y":783,"width":112,"height":9}},{"id":"624e1d11-b2b1-4fe4-af23-8802705bba35","block_type":"box","text":"12.00 noon","page_number":65,"box":{"x":354,"y":783,"width":81,"height":9}},{"id":"e0ce6809-3614-40cb-a66f-207ad7715448","block_type":"box","text":"*Minimum Investment","page_number":65,"box":{"x":117,"y":809,"width":172,"height":9}},{"id":"c8b2a217-487b-4689-a825-aae3858e12aa","block_type":"box","text":"UK Corporate Accumulation","page_number":65,"box":{"x":118,"y":835,"width":205,"height":11}},{"id":"e0419df6-3ba2-4728-92d5-6a930ca8d859","block_type":"box","text":"Units, Insured Pension","page_number":65,"box":{"x":118,"y":849,"width":166,"height":10}},{"id":"8eee9366-9981-48bb-bd3c-78255d0dec68","block_type":"box","text":"Accumulation Units,","page_number":65,"box":{"x":116,"y":863,"width":147,"height":10}},{"id":"46351297-8e5c-4bca-8c7d-bd031f2de87a","block_type":"box","text":"UK","page_number":65,"box":{"x":271,"y":863,"width":21,"height":8}},{"id":"fb39b85d-094e-4dfd-9fec-a0567db5c862","block_type":"box","text":"Institutional Accumulation","page_number":65,"box":{"x":118,"y":876,"width":187,"height":9}},{"id":"5cf453f7-bc98-40fc-ab31-a1c6a4c27149","block_type":"box","text":"Units, UK Feeder Fund","page_number":65,"box":{"x":118,"y":890,"width":169,"height":10}},{"id":"175ab866-2367-41d2-bfee-a0db43d90af0","block_type":"box","text":"Accumulation Units, UK","page_number":65,"box":{"x":116,"y":904,"width":176,"height":10}},{"id":"127c81b1-aca7-4736-ab83-3d8ec36e4f53","block_type":"box","text":"No minimum","page_number":65,"box":{"x":353,"y":835,"width":92,"height":9}},{"id":"6b4d7fd1-e0ba-4377-874c-3029e15fee2c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":66,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"f0090100-b504-41d3-ac17-6aa709cd8983","block_type":"box","text":"66","page_number":66,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"5fe369dd-af41-4413-a60e-a8b4fdcdf6cd","block_type":"box","text":"Aviva Investors: Confidential","page_number":66,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"e73922a2-21d3-4162-8bda-146f829404f2","block_type":"box","text":"Fund of Fund Accumulation","page_number":66,"box":{"x":118,"y":53,"width":202,"height":9}},{"id":"3cc00453-69ec-4741-bdc0-79d98b700d56","block_type":"box","text":"Units","page_number":66,"box":{"x":118,"y":67,"width":36,"height":9}},{"id":"b114877f-a269-46e4-b7ff-f9f2bdb49df4","block_type":"box","text":"Minimum withdrawal","page_number":66,"box":{"x":117,"y":93,"width":150,"height":9}},{"id":"f17a7ac3-f46a-4c07-87ab-8ecba785756f","block_type":"box","text":"No minimum","page_number":66,"box":{"x":353,"y":93,"width":92,"height":9}},{"id":"00ee8bb7-1d59-49c0-b719-f0259b30730a","block_type":"box","text":"Tax Criteria for investment","page_number":66,"box":{"x":116,"y":119,"width":213,"height":9}},{"id":"c51e9dbf-89c9-4520-8d09-c697785163f0","block_type":"box","text":"UK Corporate Accumulation","page_number":66,"box":{"x":118,"y":145,"width":205,"height":11}},{"id":"f8e8835c-a1f0-4842-b987-267607ad080a","block_type":"box","text":"Units","page_number":66,"box":{"x":118,"y":159,"width":36,"height":9}},{"id":"40d86253-f4ef-49f2-833a-b612abf403df","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":66,"box":{"x":352,"y":145,"width":404,"height":11}},{"id":"cd1109ae-d5cf-4f18-b007-8825cbebd108","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":66,"box":{"x":353,"y":159,"width":404,"height":11}},{"id":"29361534-5a5b-4aa0-b818-55c0ba457a30","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":66,"box":{"x":352,"y":172,"width":405,"height":12}},{"id":"c4bec577-9748-4b5c-8e9a-9b65fe597926","block_type":"box","text":"linked pension business contracts.","page_number":66,"box":{"x":353,"y":186,"width":253,"height":11}},{"id":"22ef686b-5072-40c1-97c2-0e03480df250","block_type":"box","text":"UK Fund of Fund","page_number":66,"box":{"x":118,"y":212,"width":125,"height":9}},{"id":"5e60e2bd-3d61-4a71-bd9f-e965bc9a1da4","block_type":"box","text":"Accumulation Units","page_number":66,"box":{"x":116,"y":226,"width":143,"height":9}},{"id":"502aa98f-fdfb-4825-a5d3-b38fee5aa1cb","block_type":"box","text":"Insured Pension","page_number":66,"box":{"x":118,"y":265,"width":118,"height":9}},{"id":"be077d50-c701-4557-b016-a4c55f847c24","block_type":"box","text":"Accumulation Units","page_number":66,"box":{"x":116,"y":279,"width":143,"height":9}},{"id":"647c90b0-2bac-456e-ab39-a769e6f6a605","block_type":"box","text":"A sub-fund of a UK authorised Open Ended Investment","page_number":66,"box":{"x":352,"y":212,"width":405,"height":11}},{"id":"dc942e52-5223-4baa-964b-c627ba975d4f","block_type":"box","text":"Company which is part of or otherwise managed by the","page_number":66,"box":{"x":353,"y":226,"width":403,"height":11}},{"id":"5f041689-3a6c-4bab-b9f6-89a2660ae73c","block_type":"box","text":"Aviva Group.","page_number":66,"box":{"x":352,"y":239,"width":96,"height":12}},{"id":"cee36da5-9df3-463c-891c-8c4eb2c35bf2","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":66,"box":{"x":352,"y":279,"width":404,"height":11}},{"id":"9416bad6-2513-4f96-ba37-75033cc0a02e","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":66,"box":{"x":353,"y":292,"width":404,"height":12}},{"id":"4eb913e1-5727-4ffb-891b-b46e332b34a1","block_type":"box","text":"back exclusively its unit linked pension business","page_number":66,"box":{"x":353,"y":306,"width":404,"height":11}},{"id":"cfa86218-4f71-4984-b1e6-35bc4c9cae16","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":66,"box":{"x":353,"y":320,"width":404,"height":11}},{"id":"e5417e71-360f-4ff8-863e-46c6c0d193b7","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":66,"box":{"x":353,"y":333,"width":307,"height":11}},{"id":"cbaa9dee-3511-4b1c-a153-22b67731cc80","block_type":"box","text":"UK Institutional","page_number":66,"box":{"x":118,"y":360,"width":110,"height":8}},{"id":"f3ebfd80-c69a-4894-908c-e3b724707294","block_type":"box","text":"Accumulation Units","page_number":66,"box":{"x":116,"y":373,"width":143,"height":9}},{"id":"237d5e7c-d7d2-41c9-a856-45604a569c05","block_type":"box","text":"UK Feeder Fund","page_number":66,"box":{"x":118,"y":432,"width":121,"height":9}},{"id":"0485bd99-7b48-40ec-900e-1680548cd284","block_type":"box","text":"Accumulation Units","page_number":66,"box":{"x":116,"y":446,"width":143,"height":8}},{"id":"cb9465cb-c250-4520-81f0-0d25ef8f453f","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":66,"box":{"x":352,"y":360,"width":404,"height":11}},{"id":"001b904b-d9e4-460c-87db-ae2f3745618c","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":66,"box":{"x":353,"y":373,"width":403,"height":11}},{"id":"7764e92e-2907-4e54-b768-de534d0adeee","block_type":"box","text":"tax treaties.","page_number":66,"box":{"x":352,"y":387,"width":85,"height":9}},{"id":"d6499347-0c3c-436a-9bba-56eca374dd82","block_type":"box","text":"A sub-fund of a UK authorised Non-UCITS Retail","page_number":66,"box":{"x":352,"y":426,"width":404,"height":9}},{"id":"e199843a-4c76-4b6e-bca2-d75708462ab5","block_type":"box","text":"Scheme","page_number":66,"box":{"x":353,"y":440,"width":60,"height":9}},{"id":"d690815e-429b-492d-a005-0916aa56f637","block_type":"box","text":"Additional Criteria for","page_number":66,"box":{"x":117,"y":491,"width":217,"height":9}},{"id":"f31d1913-1bd0-49d7-8002-b8105676797d","block_type":"box","text":"Investment – UK Feeder","page_number":66,"box":{"x":117,"y":505,"width":217,"height":9}},{"id":"e3c552ac-652a-443c-9478-e0bb24a9154e","block_type":"box","text":"Fund Accumulation Units","page_number":66,"box":{"x":118,"y":519,"width":201,"height":8}},{"id":"0ef66fa5-cc46-4cce-9490-28b55f6311cf","block_type":"box","text":"**Current Charges:","page_number":66,"box":{"x":117,"y":558,"width":149,"height":11}},{"id":"6c40b6e8-d18f-4de9-b333-c7aaafde3517","block_type":"box","text":"These Units are only available to collective investment","page_number":66,"box":{"x":352,"y":491,"width":405,"height":11}},{"id":"7d4ec7cc-a97c-48e1-92a5-403d3537e016","block_type":"box","text":"schemes operated by the ACS Manager and","page_number":66,"box":{"x":353,"y":505,"width":403,"height":11}},{"id":"54e5b369-e18e-4207-9195-6e05866276fd","block_type":"box","text":"established as a feeder scheme dedicated to Units in","page_number":66,"box":{"x":353,"y":519,"width":403,"height":8}},{"id":"8d3a1bad-e1ac-46c0-879c-14c57c68f33a","block_type":"box","text":"the Sub-Fund","page_number":66,"box":{"x":352,"y":532,"width":101,"height":9}},{"id":"824cbc40-99d7-4aad-9e8a-d3860a02f6f0","block_type":"box","text":"UK Corporate Accumulation","page_number":66,"box":{"x":118,"y":584,"width":205,"height":11}},{"id":"faca8134-7e49-4e3a-86cb-d976823b0a1c","block_type":"box","text":"Units, Insured Pension","page_number":66,"box":{"x":118,"y":598,"width":166,"height":10}},{"id":"cfed7569-ca11-4320-9fec-8803d94c2593","block_type":"box","text":"Accumulation Units and UK","page_number":66,"box":{"x":116,"y":611,"width":204,"height":9}},{"id":"1e094612-c4dd-4a6b-a83f-ea534aa7a604","block_type":"box","text":"Institutional Accumulation","page_number":66,"box":{"x":118,"y":625,"width":187,"height":9}},{"id":"b03c40cf-c1c4-419c-b777-bda75b9b5d4d","block_type":"box","text":"Units","page_number":66,"box":{"x":118,"y":639,"width":36,"height":8}},{"id":"6af1bbad-4af0-429d-8414-3596fb0121d8","block_type":"box","text":"UK Feeder Fund","page_number":66,"box":{"x":118,"y":678,"width":121,"height":9}},{"id":"875cc5ae-dd7f-4453-a83a-2569acf86046","block_type":"box","text":"Accumulation Units","page_number":66,"box":{"x":116,"y":692,"width":143,"height":8}},{"id":"88ad7e6f-33da-4b6c-a577-854d110211c1","block_type":"box","text":"UK Fund of Fund","page_number":66,"box":{"x":118,"y":750,"width":125,"height":9}},{"id":"52d24bce-2c8c-43ea-86da-7e442b1d552d","block_type":"box","text":"Accumulation Units","page_number":66,"box":{"x":116,"y":764,"width":143,"height":9}},{"id":"9f00235e-b976-4270-b338-3931bbed8ca2","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":66,"box":{"x":352,"y":584,"width":404,"height":11}},{"id":"5a4a5cce-3025-4b87-a777-dbbfa4eb52e0","block_type":"box","text":"Unitholder","page_number":66,"box":{"x":353,"y":598,"width":75,"height":8}},{"id":"c1e025b7-94ff-400c-9bf1-5f101d6b545c","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":66,"box":{"x":352,"y":617,"width":404,"height":11}},{"id":"c94022cb-503e-417a-a606-4ba977c0a183","block_type":"box","text":"property","page_number":66,"box":{"x":353,"y":632,"width":60,"height":10}},{"id":"4c0e5ab5-b240-4249-82ec-0430af733c9f","block_type":"box","text":"ACS management charge: Deducted from Scheme","page_number":66,"box":{"x":352,"y":658,"width":404,"height":11}},{"id":"81a9e9ce-1ef6-4834-8bb9-800584083fcf","block_type":"box","text":"Property. Currently 0.00%","page_number":66,"box":{"x":354,"y":672,"width":191,"height":11}},{"id":"67359f37-d713-40ff-9e47-b37d4304c99a","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":66,"box":{"x":352,"y":699,"width":404,"height":11}},{"id":"351c358a-b1d6-4ada-bb27-373eab674601","block_type":"box","text":"property","page_number":66,"box":{"x":353,"y":713,"width":60,"height":11}},{"id":"af65e39c-66e5-4bf9-9d1a-cb37af65b578","block_type":"box","text":"ACS Management Charge: Deducted from the Scheme","page_number":66,"box":{"x":352,"y":747,"width":404,"height":11}},{"id":"5742d044-bae2-4f5a-b8a6-9018534722e5","block_type":"box","text":"property of the FoF Units","page_number":66,"box":{"x":353,"y":761,"width":184,"height":11}},{"id":"259f7063-3378-4554-911d-d76623a74a28","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":66,"box":{"x":352,"y":788,"width":404,"height":11}},{"id":"4acd1ceb-b4db-4e6a-a7fa-578f144917de","block_type":"box","text":"property of the FoF Units.","page_number":66,"box":{"x":353,"y":802,"width":188,"height":11}},{"id":"55f74b7e-b776-47fc-b946-cd3de8ec975e","block_type":"box","text":"Accounting Dates","page_number":66,"box":{"x":117,"y":822,"width":141,"height":11}},{"id":"cea3b05f-bcca-4c22-b02f-804a7d8e40ba","block_type":"box","text":"Annual Accounting Date","page_number":66,"box":{"x":116,"y":848,"width":180,"height":11}},{"id":"a929a96b-0b2c-4a6e-8a80-b03017723da2","block_type":"box","text":"31 December","page_number":66,"box":{"x":353,"y":848,"width":100,"height":9}},{"id":"3877a61b-e2e5-4a90-b62d-794b57de7c05","block_type":"box","text":"First Accounting Date","page_number":66,"box":{"x":118,"y":874,"width":158,"height":11}},{"id":"8749acb9-3078-4581-9146-c50cf08315fc","block_type":"box","text":"31 December 2015","page_number":66,"box":{"x":353,"y":874,"width":141,"height":9}},{"id":"a4cacfa5-ad75-4ae1-be20-91d5e74539d7","block_type":"box","text":"Annual Income Allocation","page_number":66,"box":{"x":116,"y":900,"width":188,"height":9}},{"id":"27c04469-8604-4d00-a88b-a5465795a919","block_type":"box","text":"Date","page_number":66,"box":{"x":118,"y":914,"width":33,"height":9}},{"id":"ba74cc55-1f69-4861-aa4d-852f2e096402","block_type":"box","text":"On or before 28 /29 February","page_number":66,"box":{"x":353,"y":900,"width":217,"height":11}},{"id":"0a1cde1a-a45a-4887-b691-6a599132c0e9","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":67,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"fde0a9dd-7a95-4941-bb08-48eeba1b2938","block_type":"box","text":"67","page_number":67,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"4dd4c319-000a-4ac3-b593-f48601c56fc1","block_type":"box","text":"Aviva Investors: Confidential","page_number":67,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"29e235b0-980d-4349-b329-6d33fb502c1a","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":67,"box":{"x":118,"y":59,"width":293,"height":11}},{"id":"eeefb8ab-c7ac-4059-99e4-acff40a96e50","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":67,"box":{"x":62,"y":85,"width":861,"height":11}},{"id":"ed6b173d-2510-4ec7-a011-ee6da07e6276","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":67,"box":{"x":62,"y":99,"width":408,"height":11}},{"id":"ec20721c-1663-488c-a16d-86398c47cdeb","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":67,"box":{"x":62,"y":118,"width":642,"height":12}},{"id":"938e667c-aba2-41aa-ade5-f32442e1553f","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":67,"box":{"x":62,"y":138,"width":860,"height":11}},{"id":"752134da-d290-42cf-ba42-6cf31fc9ab37","block_type":"box","text":"this Prospectus.","page_number":67,"box":{"x":62,"y":152,"width":117,"height":11}},{"id":"6a3e4418-9181-495c-8244-619b762b75af","block_type":"box","text":"□","page_number":67,"box":{"x":62,"y":180,"width":5,"height":4}},{"id":"2066196a-2783-485b-ad64-af1ad2db9733","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":67,"box":{"x":74,"y":179,"width":342,"height":9}},{"id":"b7e30075-4576-434e-b1ad-a97a8fa10268","block_type":"box","text":"#","page_number":67,"box":{"x":62,"y":205,"width":5,"height":6}},{"id":"62da4003-ece0-463d-8131-ec41be582a86","block_type":"box","text":"Prior to 7 April 2025 this Sub-Fund was called AI Sustainable Stewardship International Equity Fund.","page_number":67,"box":{"x":69,"y":206,"width":744,"height":12}},{"id":"488c5397-d820-4087-86c1-cf7b0c760956","block_type":"box","text":"Securities Financing and other Transactions:","page_number":67,"box":{"x":62,"y":253,"width":358,"height":11}},{"id":"495b2a13-792a-4970-9175-fdd9b115089e","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":67,"box":{"x":62,"y":273,"width":860,"height":11}},{"id":"d67f60ca-d20d-43eb-927a-05e3f54ece3f","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":67,"box":{"x":62,"y":286,"width":438,"height":12}},{"id":"32ec8e20-7edb-4f8a-b66a-3429eedc7dc6","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":67,"box":{"x":62,"y":326,"width":861,"height":11}},{"id":"bfdff13f-4633-4ce1-976f-759f3e64648f","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":67,"box":{"x":62,"y":339,"width":860,"height":12}},{"id":"0da6b017-e088-4e3a-802a-9ea45fd77908","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":67,"box":{"x":62,"y":353,"width":861,"height":11}},{"id":"998b1b75-eeb9-4d5f-99a7-bfd5a8e70f22","block_type":"box","text":"15%.","page_number":67,"box":{"x":63,"y":367,"width":35,"height":9}},{"id":"82c3b48b-02da-4ec4-9db2-832dc131ce7d","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":67,"box":{"x":62,"y":406,"width":860,"height":11}},{"id":"6aca4854-bc4d-427f-a392-f5364bb322f5","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":67,"box":{"x":62,"y":419,"width":860,"height":12}},{"id":"d71840e7-1385-4e03-ad0d-2e592f4c9539","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":67,"box":{"x":62,"y":433,"width":861,"height":11}},{"id":"103c5f05-f350-4ac5-a66f-40d86906d24a","block_type":"box","text":"is zero.","page_number":67,"box":{"x":62,"y":447,"width":52,"height":9}},{"id":"73f56bea-a107-4668-84d2-6f0a94b16946","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":67,"box":{"x":62,"y":506,"width":249,"height":8}},{"id":"d824132b-c44d-441a-8ec6-2de0af7a16b5","block_type":"box","text":"Leverage","page_number":67,"box":{"x":63,"y":545,"width":72,"height":11}},{"id":"7e406734-93de-48ae-b8e4-54215f0289d2","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":67,"box":{"x":63,"y":564,"width":860,"height":12}},{"id":"28f23d29-b450-459e-8c3c-f4ef474ab92c","block_type":"box","text":"management.","page_number":67,"box":{"x":62,"y":579,"width":101,"height":10}},{"id":"0b326fb4-844d-418c-90b9-0580db299d69","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":67,"box":{"x":62,"y":597,"width":860,"height":12}},{"id":"1ae5b626-c3ac-4a41-9fca-59ba15ca0c2e","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":67,"box":{"x":62,"y":611,"width":649,"height":11}},{"id":"fc940b1c-f014-482d-9dc1-ba35b8f91a00","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":67,"box":{"x":62,"y":631,"width":755,"height":11}},{"id":"f60ecb3d-e1c0-4874-8b3e-b23a24cdd7cb","block_type":"box","text":"Permitted derivatives","page_number":67,"box":{"x":72,"y":673,"width":168,"height":8}},{"id":"4e64fcd4-5017-4393-a317-4114d0a82b5b","block_type":"box","text":"Permitted?","page_number":67,"box":{"x":383,"y":673,"width":85,"height":8}},{"id":"18c49ea0-48b6-46d4-8af8-c958b39fc54a","block_type":"box","text":"Prohibited?","page_number":67,"box":{"x":489,"y":673,"width":91,"height":8}},{"id":"ef26e648-263d-4edf-a5bf-761ae966a888","block_type":"box","text":"Equity index futures","page_number":67,"box":{"x":72,"y":693,"width":146,"height":11}},{"id":"ed216dbe-96ac-4935-aa28-4db1b3241e9f","block_type":"box","text":"√","page_number":67,"box":{"x":421,"y":694,"width":8,"height":7}},{"id":"9d229359-6c9d-470a-8a49-5784fe9a7489","block_type":"box","text":"Government bond futures","page_number":67,"box":{"x":72,"y":711,"width":188,"height":9}},{"id":"13080a6f-1306-4f9d-b252-2b872f15e1a4","block_type":"box","text":"√","page_number":67,"box":{"x":530,"y":712,"width":8,"height":8}},{"id":"1787c598-50b7-4637-9aa6-95106824aa76","block_type":"box","text":"Equity index options","page_number":67,"box":{"x":72,"y":730,"width":148,"height":11}},{"id":"54631470-d43a-4469-ba1e-af2e8e381e5b","block_type":"box","text":"√","page_number":67,"box":{"x":530,"y":730,"width":8,"height":8}},{"id":"942400ec-23fb-4948-a3b1-b422197846d5","block_type":"box","text":"Forward foreign exchange","page_number":67,"box":{"x":72,"y":748,"width":193,"height":12}},{"id":"8f05a2e1-3134-449b-90d3-19f3fc8fcdaa","block_type":"box","text":"√","page_number":67,"box":{"x":421,"y":749,"width":8,"height":7}},{"id":"7500ba92-6408-412a-8d77-93681f148435","block_type":"box","text":"Index credit default swaps","page_number":67,"box":{"x":72,"y":767,"width":192,"height":11}},{"id":"2e743fcf-4889-43d8-a23f-86e9c0b0b8c3","block_type":"box","text":"√","page_number":67,"box":{"x":530,"y":767,"width":8,"height":8}},{"id":"d9dc0d78-a8b4-4ff5-8980-8102da6d05eb","block_type":"box","text":"Interest rate swaps","page_number":67,"box":{"x":72,"y":785,"width":140,"height":11}},{"id":"35db0429-7d89-473e-a077-e5737d4b2a9c","block_type":"box","text":"√","page_number":67,"box":{"x":530,"y":786,"width":8,"height":7}},{"id":"c1a48a1d-2a06-4447-b9d3-af7ebf3aa0a0","block_type":"box","text":"OTC equity options","page_number":67,"box":{"x":72,"y":804,"width":142,"height":11}},{"id":"dd1d9850-400c-437f-9ccc-2ca3ce4504fe","block_type":"box","text":"√","page_number":67,"box":{"x":530,"y":804,"width":8,"height":8}},{"id":"368da5a5-281f-4cc8-b1ae-bde04ec60d43","block_type":"box","text":"Inflation swaps","page_number":67,"box":{"x":72,"y":822,"width":109,"height":11}},{"id":"23fe587c-0ecc-477f-b02e-b3ffd5816c54","block_type":"box","text":"√","page_number":67,"box":{"x":530,"y":822,"width":8,"height":8}},{"id":"5270ebc3-b41d-42fa-862b-0983e89882d1","block_type":"box","text":"Cross currency swaps","page_number":67,"box":{"x":72,"y":840,"width":163,"height":12}},{"id":"b0827a8e-fa6c-46a5-810f-da5163e1aae6","block_type":"box","text":"√","page_number":67,"box":{"x":530,"y":841,"width":8,"height":8}},{"id":"2dfcd973-3286-451f-9d74-d80ae4e3fa1a","block_type":"box","text":"Other","page_number":67,"box":{"x":72,"y":859,"width":41,"height":9}},{"id":"1868b10d-fd47-41ed-a282-c9c38414d4f7","block_type":"box","text":"√","page_number":67,"box":{"x":530,"y":859,"width":8,"height":8}},{"id":"59b7cf31-b7eb-4dc1-96e2-e54edb14d4eb","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":67,"box":{"x":63,"y":887,"width":860,"height":11}},{"id":"edeea5c0-fdf5-4e9a-86dd-18b6fae3546f","block_type":"box","text":"2)","page_number":67,"box":{"x":62,"y":900,"width":13,"height":11}},{"id":"58694713-3759-4b3b-bf53-2709ec7ac3d8","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":68,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"c3723fd3-c70b-4381-a8fb-f17f9e00697e","block_type":"box","text":"68","page_number":68,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"f9752229-2ea6-4e78-8daf-719faf436d06","block_type":"box","text":"Aviva Investors: Confidential","page_number":68,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d03b5dc5-0edc-4d02-908a-34f7839778a3","block_type":"box","text":"Leverage Limits","page_number":68,"box":{"x":63,"y":52,"width":128,"height":12}},{"id":"5cb4623a-6a4d-4363-9f01-ac68f4cc2839","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":68,"box":{"x":200,"y":52,"width":722,"height":12}},{"id":"4969648e-9d9b-4d14-890b-fd698a08b694","block_type":"box","text":"Regime):","page_number":68,"box":{"x":63,"y":66,"width":65,"height":11}},{"id":"356be015-9745-4370-a6ce-ce50aec67c14","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":68,"box":{"x":62,"y":80,"width":471,"height":11}},{"id":"a94d64e5-b1d6-4132-8157-a6dd48046139","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":111,"width":6,"height":4}},{"id":"f0f15e41-47a8-44d4-b5ec-6c613a75f381","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":68,"box":{"x":92,"y":108,"width":193,"height":11}},{"id":"62ef02af-d9d6-44e5-9a37-7f012c81dc9c","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":128,"width":6,"height":4}},{"id":"823e59d1-c45c-43e1-9af0-fadb03521299","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":68,"box":{"x":92,"y":124,"width":183,"height":12}},{"id":"597db9cd-81eb-4581-bab5-5d6f675a5bdc","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":68,"box":{"x":62,"y":152,"width":860,"height":11}},{"id":"26ea8905-bc14-4b62-ac05-e3419cba5b79","block_type":"box","text":"which case leverage will not exceed the following:","page_number":68,"box":{"x":62,"y":166,"width":368,"height":11}},{"id":"fa0bd737-7267-4b3f-8fb5-f41c70e364b3","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":197,"width":6,"height":4}},{"id":"458fb79a-c4e9-4ffe-ba95-0d80f1c0597d","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":68,"box":{"x":92,"y":194,"width":193,"height":11}},{"id":"480fb0c7-97d4-4876-adb5-8abb7f6da482","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":213,"width":6,"height":5}},{"id":"2aeaa3b0-fbc7-462c-b74a-3cb606de856f","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":68,"box":{"x":92,"y":210,"width":183,"height":11}},{"id":"50514f73-a214-41e1-9942-835c48e456f4","block_type":"box","text":"Specific Risks","page_number":68,"box":{"x":62,"y":257,"width":113,"height":12}},{"id":"de0ed582-5146-4b42-af04-2028ecfa117d","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":68,"box":{"x":181,"y":257,"width":462,"height":12}},{"id":"eaf064b1-1df7-4928-84df-00fa22337268","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":281,"width":6,"height":4}},{"id":"b1d1bf0e-6c10-4e43-9ddb-00be7cfa27f5","block_type":"box","text":"Emerging Markets","page_number":68,"box":{"x":93,"y":278,"width":134,"height":11}},{"id":"13ca2a36-e307-487c-8116-ab8985a228fb","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":296,"width":6,"height":4}},{"id":"b061d2ae-6578-47d6-a21e-f4b6b77e8b9b","block_type":"box","text":"Smaller Companies","page_number":68,"box":{"x":92,"y":292,"width":145,"height":12}},{"id":"2302d196-eaa6-42bd-b198-dd149e857aa6","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":310,"width":6,"height":4}},{"id":"56953ea1-e0e4-4feb-89e5-88204890666b","block_type":"box","text":"Fixed Interest","page_number":68,"box":{"x":93,"y":307,"width":100,"height":9}},{"id":"5a874443-b917-4585-a106-7a129daa8681","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":324,"width":6,"height":5}},{"id":"307078cc-cc4b-4f1a-a32b-148db4c3d0df","block_type":"box","text":"Specialist","page_number":68,"box":{"x":92,"y":321,"width":71,"height":11}},{"id":"538066c4-1021-49e2-a816-1949972f074c","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":339,"width":6,"height":4}},{"id":"fccf7eb6-6451-4a4c-b116-4c5dfb7f058f","block_type":"box","text":"Environmental, Social & Governance","page_number":68,"box":{"x":93,"y":336,"width":272,"height":10}},{"id":"48baa62b-f718-4589-b27e-19876c218774","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":353,"width":6,"height":5}},{"id":"c3260901-60eb-4225-a809-f0fd9ed09d5d","block_type":"box","text":"Equity Securities","page_number":68,"box":{"x":93,"y":350,"width":123,"height":11}},{"id":"455b262d-74c9-4917-92af-0274eb63f2de","block_type":"box","text":"","page_number":68,"box":{"x":62,"y":368,"width":6,"height":4}},{"id":"7006049e-af69-4dbd-bc90-37c980977154","block_type":"box","text":"Stock Connect Risk","page_number":68,"box":{"x":92,"y":365,"width":146,"height":9}},{"id":"c73a3369-d8b3-46ba-a91c-3fdfa1b30456","block_type":"box","text":"Past Performance – AI Stewardship International Equity Fund","page_number":68,"box":{"x":72,"y":398,"width":488,"height":12}},{"id":"82606fc7-c5fe-4c2a-8350-a3628cf4081d","block_type":"box","text":"% Growth","page_number":68,"box":{"x":71,"y":418,"width":77,"height":9}},{"id":"faecef46-de2a-4d14-ab86-97c7d60cfadb","block_type":"box","text":"1/1/2024 to","page_number":68,"box":{"x":290,"y":444,"width":94,"height":8}},{"id":"0cf37e31-4935-4f10-b66a-76d204cb4164","block_type":"box","text":"31/12/2024","page_number":68,"box":{"x":289,"y":456,"width":75,"height":8}},{"id":"1ab37416-578e-43af-b24c-17eaa6825f06","block_type":"box","text":"1/1/2023 to","page_number":68,"box":{"x":404,"y":444,"width":94,"height":8}},{"id":"b77fcbfc-ecaa-42f6-a550-475644886db3","block_type":"box","text":"31/12/2023","page_number":68,"box":{"x":403,"y":456,"width":75,"height":8}},{"id":"0b646a8d-7d90-4139-a733-c8306ab8f7a6","block_type":"box","text":"1/1/2022 to","page_number":68,"box":{"x":517,"y":444,"width":94,"height":8}},{"id":"192434e3-86f6-47c8-b32c-419ab4217287","block_type":"box","text":"31/12/2022","page_number":68,"box":{"x":516,"y":456,"width":75,"height":8}},{"id":"3d1e0489-8d07-424b-9e22-0f2eaa65f79c","block_type":"box","text":"1/1/2021 to","page_number":68,"box":{"x":631,"y":444,"width":94,"height":8}},{"id":"c42d28a7-ebf6-451e-9b32-10b28f514b80","block_type":"box","text":"31/12/2021","page_number":68,"box":{"x":630,"y":456,"width":73,"height":8}},{"id":"0b471288-0c3a-4a33-b13e-a7080783c083","block_type":"box","text":"1/1/2020 to","page_number":68,"box":{"x":744,"y":444,"width":94,"height":8}},{"id":"c5264799-f1e2-44c5-8f1a-e94ff18b78d2","block_type":"box","text":"31/12/2020","page_number":68,"box":{"x":743,"y":456,"width":75,"height":8}},{"id":"f2bf9d51-78a0-4e0b-8197-4e8f7371bc48","block_type":"box","text":"UK Corporate Income","page_number":68,"box":{"x":72,"y":481,"width":198,"height":10}},{"id":"e6f9573d-b0bb-4c18-bca8-af1570d47f8a","block_type":"box","text":"Distribution Units (%)","page_number":68,"box":{"x":72,"y":493,"width":140,"height":10}},{"id":"66ef040c-aba0-4003-b635-5f0ec1342982","block_type":"box","text":"Insured Pension Income","page_number":68,"box":{"x":72,"y":518,"width":198,"height":8}},{"id":"8be19812-f302-48f5-809b-fe88b1a7dc22","block_type":"box","text":"Distribution Units (%)","page_number":68,"box":{"x":72,"y":530,"width":140,"height":10}},{"id":"7bad0725-811e-4d15-a4e0-f19ca2e209cf","block_type":"box","text":"UK Institutional Accumulation","page_number":68,"box":{"x":72,"y":555,"width":198,"height":8}},{"id":"23973c41-ed80-4e37-ae9d-342debc0f3ad","block_type":"box","text":"Units (%)","page_number":68,"box":{"x":72,"y":567,"width":60,"height":10}},{"id":"e9352c4f-c298-4f74-9c34-72270dcd3fd3","block_type":"box","text":"10.42","page_number":68,"box":{"x":291,"y":555,"width":35,"height":8}},{"id":"8ec90124-a3c8-4dd6-b997-00d653d2f161","block_type":"box","text":"12.05","page_number":68,"box":{"x":404,"y":555,"width":36,"height":8}},{"id":"4e5cd009-5d5e-453a-a1d3-cffab08c40a0","block_type":"box","text":"-11.35","page_number":68,"box":{"x":517,"y":555,"width":41,"height":8}},{"id":"8651bbd7-44c0-4862-9911-f13760879431","block_type":"box","text":"19.4","page_number":68,"box":{"x":631,"y":555,"width":28,"height":8}},{"id":"9d26c2af-a849-40f3-9030-0a2546d20c6d","block_type":"box","text":"17.5","page_number":68,"box":{"x":744,"y":555,"width":28,"height":8}},{"id":"ae021424-7d6e-4205-b4cd-3af80e65cb1a","block_type":"box","text":"ACS (Fund of Fund)","page_number":68,"box":{"x":71,"y":598,"width":199,"height":10}},{"id":"2898568f-6951-4c3b-94c6-6d65ee2a4d5a","block_type":"box","text":"Accumulation Units Class 1","page_number":68,"box":{"x":71,"y":610,"width":197,"height":8}},{"id":"6d78426a-1cd0-4535-8dbc-9f4b5b5f40ff","block_type":"box","text":"(%)","page_number":68,"box":{"x":72,"y":623,"width":21,"height":10}},{"id":"b922e450-cfb9-4322-86d9-627b5edc80ee","block_type":"box","text":"ACS (Fund of Fund)","page_number":68,"box":{"x":71,"y":647,"width":199,"height":10}},{"id":"c3ab5b96-dc4e-46ad-a7e4-b7514dfe5b9e","block_type":"box","text":"Accumulation Units Class 2","page_number":68,"box":{"x":71,"y":660,"width":199,"height":8}},{"id":"6a159a9e-edab-417d-902e-2bee70f1fe09","block_type":"box","text":"(%)","page_number":68,"box":{"x":72,"y":672,"width":21,"height":10}},{"id":"1f514562-6f27-4a76-8ddf-165db1a4ed96","block_type":"box","text":"UK Corporate Accumulation","page_number":68,"box":{"x":72,"y":697,"width":198,"height":10}},{"id":"3e155e5f-b8ba-499d-a9bf-930a51075886","block_type":"box","text":"Units (%)","page_number":68,"box":{"x":72,"y":709,"width":60,"height":10}},{"id":"c0b5ef25-7687-451f-8b2e-343f57127206","block_type":"box","text":"10.45","page_number":68,"box":{"x":291,"y":697,"width":35,"height":8}},{"id":"0a32991b-5c49-4751-bcff-0be91711b749","block_type":"box","text":"12.02","page_number":68,"box":{"x":404,"y":697,"width":36,"height":8}},{"id":"db7ba5ad-98e3-4291-93c1-e1c9fcec2a17","block_type":"box","text":"-11.29","page_number":68,"box":{"x":517,"y":697,"width":41,"height":8}},{"id":"9a3ac005-05a8-4cda-a270-fb1ec058f953","block_type":"box","text":"19.3","page_number":68,"box":{"x":631,"y":697,"width":28,"height":8}},{"id":"c01eecdd-dce4-4838-9b1c-f69eb67c173b","block_type":"box","text":"17.5","page_number":68,"box":{"x":744,"y":697,"width":28,"height":8}},{"id":"79fb8b0d-3b10-4548-8ee2-a3acd27a857e","block_type":"box","text":"Insured Pension","page_number":68,"box":{"x":72,"y":740,"width":198,"height":8}},{"id":"504611c3-d608-4c86-996c-5b5f43e023ca","block_type":"box","text":"Accumulation Units (%)","page_number":68,"box":{"x":71,"y":752,"width":156,"height":10}},{"id":"f55e661e-a198-4923-acfe-549d6416eed5","block_type":"box","text":"10.55","page_number":68,"box":{"x":291,"y":740,"width":35,"height":8}},{"id":"cba3c5c3-dc42-4fcc-9af3-4970b6a4628f","block_type":"box","text":"12.14","page_number":68,"box":{"x":404,"y":740,"width":36,"height":8}},{"id":"9af8108a-96d1-4454-9fe3-19ca7cd8bc25","block_type":"box","text":"-11.20","page_number":68,"box":{"x":517,"y":740,"width":42,"height":8}},{"id":"6a654ca3-938d-4377-9199-0cbc68d71ac6","block_type":"box","text":"19.5","page_number":68,"box":{"x":631,"y":740,"width":27,"height":8}},{"id":"7bc6a14f-04bb-4fc8-8a5e-0c9f2368f42d","block_type":"box","text":"17.6","page_number":68,"box":{"x":744,"y":740,"width":28,"height":8}},{"id":"c5929671-de82-4903-b14d-a71a4e872e82","block_type":"box","text":"UK Fund of Fund","page_number":68,"box":{"x":72,"y":783,"width":198,"height":8}},{"id":"20b2cf65-fdab-4961-be4b-1962582306cc","block_type":"box","text":"Accumulation Units (%)","page_number":68,"box":{"x":71,"y":795,"width":156,"height":10}},{"id":"ba9945e7-5539-4720-94a9-ebd6a0a5c388","block_type":"box","text":"10.47","page_number":68,"box":{"x":291,"y":783,"width":36,"height":8}},{"id":"16664d56-8700-4ea0-8301-611e598f97bb","block_type":"box","text":"N/A","page_number":68,"box":{"x":404,"y":783,"width":24,"height":8}},{"id":"65409e60-ddfe-438d-b6c1-f2d64761d722","block_type":"box","text":"UK Feeder Fund","page_number":68,"box":{"x":72,"y":820,"width":198,"height":8}},{"id":"d2f28258-7a21-4055-819c-75cd3b204311","block_type":"box","text":"Accumulation Units (%)","page_number":68,"box":{"x":71,"y":832,"width":156,"height":10}},{"id":"17bd658b-db01-4080-bde8-a020ba4bea1d","block_type":"box","text":"10.43","page_number":68,"box":{"x":291,"y":820,"width":36,"height":8}},{"id":"e04ca577-a849-4961-9055-99fac93609c4","block_type":"box","text":"12.07","page_number":68,"box":{"x":404,"y":820,"width":36,"height":8}},{"id":"0c1159e3-7d8e-4a28-a1a9-02f16ce5d059","block_type":"box","text":"-11.30","page_number":68,"box":{"x":517,"y":820,"width":42,"height":8}},{"id":"aa8380ae-0d3c-498e-bbce-d0279ab9e5f8","block_type":"box","text":"N/A","page_number":68,"box":{"x":631,"y":820,"width":24,"height":8}},{"id":"f7cca71d-50d7-4bcf-9b08-d30759e7869f","block_type":"box","text":"N/A","page_number":68,"box":{"x":744,"y":820,"width":24,"height":8}},{"id":"e0a2d195-a34a-4bcb-b114-47489abadece","block_type":"box","text":"Index - Index MSCI® World","page_number":68,"box":{"x":72,"y":866,"width":200,"height":8}},{"id":"c724948b-c2d1-451b-8910-c1cdd742d13a","block_type":"box","text":"NDR Total Return GBP Index","page_number":68,"box":{"x":72,"y":878,"width":198,"height":8}},{"id":"327d26b7-358f-46ed-b678-32a130a68be6","block_type":"box","text":"20.79","page_number":68,"box":{"x":289,"y":866,"width":39,"height":8}},{"id":"8aff61b5-3020-416f-974d-e337abe715c1","block_type":"box","text":"16.81","page_number":68,"box":{"x":406,"y":866,"width":34,"height":8}},{"id":"888b7276-b075-4b82-a4b1-bd7f7f936f92","block_type":"box","text":"-7.83","page_number":68,"box":{"x":517,"y":866,"width":34,"height":8}},{"id":"f4fa8ef9-fb74-488b-af94-cdbca0e50bf3","block_type":"box","text":"22.9","page_number":68,"box":{"x":630,"y":866,"width":30,"height":8}},{"id":"83dea78a-0076-49b9-82f5-d65decef156f","block_type":"box","text":"12.3","page_number":68,"box":{"x":746,"y":866,"width":27,"height":8}},{"id":"af31c91b-05c4-4a1c-991b-9040d57a9583","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":69,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"5b0ef983-88f9-4656-bcc9-36e3f8b902a2","block_type":"box","text":"69","page_number":69,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"aecc48d4-784d-4916-99ab-58038f2c87a3","block_type":"box","text":"Aviva Investors: Confidential","page_number":69,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"23d5e747-6c10-4414-bf2d-23df4d226f5f","block_type":"box","text":"AI Stewardship UK Equity Income Fund","page_number":69,"box":{"x":62,"y":53,"width":314,"height":11}},{"id":"71b059ae-0f94-44e1-b957-3e27dba9ad89","block_type":"box","text":"#","page_number":69,"box":{"x":377,"y":52,"width":6,"height":5}},{"id":"79e2e489-39e1-4f0f-acbf-f8e4307e2ff6","block_type":"box","text":"FCA product reference number: 658288","page_number":69,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"45b9e4c4-3868-4f92-a11e-e0e7a1a4ddee","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":69,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"0f01c91f-a19b-4238-9075-55e84e4a45c3","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":69,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"97cff54d-40f6-4179-b9b1-e332d4009619","block_type":"box","text":"This product does not have a UK sustainable investment label.","page_number":69,"box":{"x":62,"y":145,"width":509,"height":11}},{"id":"e5ccfb2c-049c-4fdf-9017-615a823d4e2c","block_type":"box","text":"This is because – although the Sub-Fund has","page_number":69,"box":{"x":578,"y":144,"width":344,"height":12}},{"id":"a4dc31c0-f586-4c20-8bad-f83b8ebc675c","block_type":"box","text":"sustainability characteristics - it does not currently meet the criteria for a label. Sustainable investment labels help","page_number":69,"box":{"x":62,"y":158,"width":861,"height":11}},{"id":"3df827e1-0f2f-4670-8ad5-a3bc4cac94bd","block_type":"box","text":"investors find products that have a specific sustainability goal. They can be applied to funds with an explicit","page_number":69,"box":{"x":62,"y":172,"width":861,"height":11}},{"id":"fba59709-123f-42c3-abf4-16f27dab7659","block_type":"box","text":"sustainability objective that also meet other specific regulatory criteria for a UK sustainable investment label.","page_number":69,"box":{"x":62,"y":186,"width":800,"height":11}},{"id":"7bdb15d0-7633-4876-b777-e44898b73f8b","block_type":"box","text":"Investment Objectives","page_number":69,"box":{"x":62,"y":225,"width":177,"height":11}},{"id":"d055becc-c8ae-419a-a797-a07dbc16e42c","block_type":"box","text":"The Sub-Fund aims, through the responsible allocation of capital, to: (i) deliver an income return in excess of the","page_number":69,"box":{"x":62,"y":244,"width":861,"height":11}},{"id":"1adc1f05-cc94-49dd-8755-ec787b01ba60","block_type":"box","text":"FTSE® All-Share Index","page_number":69,"box":{"x":63,"y":258,"width":176,"height":9}},{"id":"63041df8-42b2-498a-ab37-ec725649cba5","block_type":"box","text":"□","page_number":69,"box":{"x":240,"y":259,"width":5,"height":4}},{"id":"4a89dfaa-654e-419e-9f3e-919baccc7d90","block_type":"box","text":", annualised over rolling three year periods; and (ii) grow your investment and provide an","page_number":69,"box":{"x":247,"y":258,"width":675,"height":11}},{"id":"34af7250-d2f6-4922-bbf3-c2eb26613f80","block_type":"box","text":"average annual return greater than the FTSE All Share Custom Index over rolling 5 year periods.","page_number":69,"box":{"x":62,"y":272,"width":717,"height":11}},{"id":"56aee772-bad0-4fb8-acd1-ba4b7487c903","block_type":"box","text":"Both the income and return aims are measured before the deduction of Sub-Fund charges and tax.","page_number":69,"box":{"x":63,"y":291,"width":732,"height":12}},{"id":"c36dbf4f-0209-45ce-bd23-cb3105c7f330","block_type":"box","text":"At least 85% of the Sub-Fund’s investments (the “","page_number":69,"box":{"x":62,"y":311,"width":363,"height":11}},{"id":"c69cc0a6-7f4a-4eea-a170-b33ecdbc1cdd","block_type":"box","text":"minimum stewardship allocation","page_number":69,"box":{"x":426,"y":311,"width":257,"height":11}},{"id":"9d144cab-4415-46b6-b366-f8fd9a40fba9","block_type":"box","text":"”) must contribute to one of three","page_number":69,"box":{"x":685,"y":311,"width":238,"height":11}},{"id":"2405d67c-3d4b-4001-9357-61698fa2a0f4","block_type":"box","text":"pillars through their products and services or through their operations:","page_number":69,"box":{"x":62,"y":325,"width":515,"height":11}},{"id":"c0fd9e6a-2d21-4d29-8ce1-931122a4fa0a","block_type":"box","text":"∙","page_number":69,"box":{"x":63,"y":348,"width":2,"height":1}},{"id":"753457be-a173-40cb-a953-072589abf0f5","block_type":"box","text":"Climate","page_number":69,"box":{"x":71,"y":344,"width":60,"height":9}},{"id":"5496dae9-4008-406a-bf94-095e82ef95bd","block_type":"box","text":"- for example, tackling the causes or impacts of climate change;","page_number":69,"box":{"x":137,"y":344,"width":471,"height":11}},{"id":"7f7b3275-e478-4676-bb93-99cef164fe52","block_type":"box","text":"∙","page_number":69,"box":{"x":63,"y":368,"width":2,"height":1}},{"id":"04ceeb9a-5e06-4261-85c5-65187e532ad5","block_type":"box","text":"Earth","page_number":69,"box":{"x":72,"y":364,"width":40,"height":8}},{"id":"82430681-d4b2-43b6-9509-b82d75c0b845","block_type":"box","text":"- for example, tackling increasing biodiversity loss and resource scarcity;","page_number":69,"box":{"x":119,"y":364,"width":536,"height":11}},{"id":"212a911d-d5b0-48fe-8c2c-e35f5d9cfd30","block_type":"box","text":"∙","page_number":69,"box":{"x":63,"y":387,"width":2,"height":1}},{"id":"f997354f-41ae-4a1c-a2c8-dd9ebf8f157b","block_type":"box","text":"People","page_number":69,"box":{"x":72,"y":383,"width":53,"height":11}},{"id":"40234a1a-9266-4d3e-b6dd-9d51702d0c54","block_type":"box","text":"- for example, tackling social inequality and unfair working practices.","page_number":69,"box":{"x":131,"y":383,"width":504,"height":11}},{"id":"304d74d8-f8a9-4800-9cf2-42edf070d03f","block_type":"box","text":"Further details on the Investment Manager’s proprietary investment framework are set out under “Sustainability","page_number":69,"box":{"x":63,"y":403,"width":860,"height":11}},{"id":"1b8217cb-047b-4a1b-9671-4716a4e7eac7","block_type":"box","text":"Strategy” below.","page_number":69,"box":{"x":62,"y":416,"width":119,"height":12}},{"id":"3746577c-796e-44fa-b54d-016935b3b933","block_type":"box","text":"Investment Policy","page_number":69,"box":{"x":62,"y":456,"width":142,"height":11}},{"id":"22348452-648c-455f-b8c5-9499df5739df","block_type":"box","text":"Core investment:","page_number":69,"box":{"x":62,"y":475,"width":135,"height":9}},{"id":"3fc28b82-5f5b-4a53-92f8-4ea3aac33311","block_type":"box","text":"At least 85% of the Sub-Fund will be invested in shares of companies domiciled or incorporated in the UK.","page_number":69,"box":{"x":62,"y":495,"width":785,"height":11}},{"id":"bfca4517-cc4f-4b95-b5be-1bf1437e136f","block_type":"box","text":"Other investments:","page_number":69,"box":{"x":62,"y":515,"width":151,"height":8}},{"id":"cb294156-6163-4f03-959c-857bb428ddf7","block_type":"box","text":"The Sub-Fund may also invest in other shares, investment grade bonds issued by companies or governments, other","page_number":69,"box":{"x":62,"y":534,"width":861,"height":11}},{"id":"a9aea9aa-df27-4a31-844a-e1a6f790ffa0","block_type":"box","text":"funds (including funds managed by Aviva Investors companies), derivatives, cash and deposits.","page_number":69,"box":{"x":62,"y":548,"width":708,"height":11}},{"id":"e0e059a4-6450-4949-a807-ab991e16f42c","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":69,"box":{"x":63,"y":567,"width":860,"height":12}},{"id":"a283604e-c498-4448-bb0f-164f7a19ed1b","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":69,"box":{"x":62,"y":581,"width":861,"height":11}},{"id":"fa72d615-d7ba-444a-9754-57f2201821de","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":69,"box":{"x":62,"y":594,"width":545,"height":12}},{"id":"d193703f-269c-48c1-9351-e2bee2dce220","block_type":"box","text":"Exclusions:","page_number":69,"box":{"x":63,"y":614,"width":91,"height":9}},{"id":"0a6ea9da-cc3f-45e6-9ec2-01fb8db943f7","block_type":"box","text":"The Sub-Fund is subject to two sets of screens, the Aviva Investors’ baseline exclusion policy and the","page_number":69,"box":{"x":62,"y":634,"width":758,"height":11}},{"id":"7a1ea69b-2ae3-42b4-848d-b69491c8acfd","block_type":"box","text":"stewardship","page_number":69,"box":{"x":826,"y":634,"width":97,"height":11}},{"id":"453822ae-a5a4-4c6a-85e4-622091611196","block_type":"box","text":"exclusions,","page_number":69,"box":{"x":62,"y":648,"width":90,"height":10}},{"id":"b7deec71-1a36-49e4-86a2-dbec148f9867","block_type":"box","text":"which exclude companies that do not meet certain ethical, social and environmental standards, so that","page_number":69,"box":{"x":158,"y":648,"width":765,"height":11}},{"id":"8e8b7b21-69eb-4f30-9a60-0917ba5dca0b","block_type":"box","text":"the Sub-Fund does not invest in companies that the Investment Manager regards as incompatible with the three pillars","page_number":69,"box":{"x":62,"y":661,"width":860,"height":11}},{"id":"7e2d1336-df96-4c49-9609-e589a712095e","block_type":"box","text":"of Climate, People and Earth. The purpose of these screens is to ensure that the Sub-Fund does not invest in","page_number":69,"box":{"x":62,"y":675,"width":860,"height":11}},{"id":"f14aeb5f-03ec-4d22-87dd-1f8ba1a95047","block_type":"box","text":"companies that derive prescribed levels of revenue from a range of activities, including certain fossil fuel (thermal","page_number":69,"box":{"x":62,"y":688,"width":860,"height":12}},{"id":"6da77223-9d48-486e-8598-827c5f135bcd","block_type":"box","text":"coal, oil and gas) activities, or companies that have significant reserves of certain fossil fuels, activities that are not","page_number":69,"box":{"x":62,"y":702,"width":861,"height":11}},{"id":"3adc4217-608c-4a8f-a045-9a04257949e3","block_type":"box","text":"compatible with animal welfare, or certain activities connected to alcohol and gambling, genetic modification and adult","page_number":69,"box":{"x":62,"y":716,"width":861,"height":11}},{"id":"cbe3e91e-1cab-40c4-b894-1476823c1e78","block_type":"box","text":"entertainment -","page_number":69,"box":{"x":62,"y":730,"width":111,"height":8}},{"id":"7645c887-b681-4567-8cbe-bd2a9c62e373","block_type":"box","text":"please see Appendices 2 and 3 for information on these investment restrictions","page_number":69,"box":{"x":180,"y":729,"width":633,"height":11}},{"id":"ed111da4-5327-4f48-9b8d-8c88c78e9df2","block_type":"box","text":".","page_number":69,"box":{"x":815,"y":737,"width":2,"height":1}},{"id":"6b2da457-a3da-4d31-95b4-7f0a8d0d7dc1","block_type":"box","text":"If there are any differences between the baseline exclusion policy and the stewardship exclusions, the more restrictive","page_number":69,"box":{"x":63,"y":749,"width":860,"height":11}},{"id":"baec9250-064a-4bfa-b258-2fc4ff92e9a0","block_type":"box","text":"exclusions will apply. As these screens only exclude shares issued by companies, this screening process is not","page_number":69,"box":{"x":62,"y":763,"width":861,"height":11}},{"id":"0ea3bc1a-cd93-4f75-ac10-98b7a098fb51","block_type":"box","text":"applied to other investments, for example cash and certain derivatives.","page_number":69,"box":{"x":62,"y":776,"width":523,"height":11}},{"id":"92ca8373-cce0-4c9b-a1bf-b1dc94d4492b","block_type":"box","text":"Investment Strategy and Asset Selection","page_number":69,"box":{"x":62,"y":796,"width":323,"height":11}},{"id":"85c809ec-4bb3-4c94-a4b0-1e00f1c77d01","block_type":"box","text":":","page_number":69,"box":{"x":388,"y":798,"width":1,"height":7}},{"id":"865ac56c-e18a-48c0-8a98-9a51418e3411","block_type":"box","text":"The Sub-Fund is actively managed, selecting investments aligned to the Sub-Fund’s growth aims and in-line with the","page_number":69,"box":{"x":62,"y":815,"width":861,"height":12}},{"id":"21221ca9-c5f5-4229-baf3-6f12a70f033c","block_type":"box","text":"Sub-Fund’s Sustainability Strategy (see below). The Investment Manager aims through the responsible allocation of","page_number":69,"box":{"x":62,"y":829,"width":861,"height":11}},{"id":"9e6c9140-a2b4-43b1-ade3-67bdb93f9232","block_type":"box","text":"capital (stewardship) to encourage companies to improve environmental and/or social outcomes through their","page_number":69,"box":{"x":62,"y":843,"width":861,"height":11}},{"id":"1f3be542-5787-45b1-82f6-e8f088dd441c","block_type":"box","text":"products and services, and/or through their operations.","page_number":69,"box":{"x":62,"y":856,"width":405,"height":12}},{"id":"b2882e2c-b68f-4c19-ba5e-d38f2ac1eb28","block_type":"box","text":"The Investment Manager has the discretion to build a diverse portfolio of companies of any size, at any stage of the","page_number":69,"box":{"x":62,"y":876,"width":861,"height":11}},{"id":"e793e305-435f-41c8-9d55-f2fa3d25b05a","block_type":"box","text":"business cycle and across different industry sectors with an emphasis on risk management within the Sub-Fund.","page_number":69,"box":{"x":62,"y":890,"width":832,"height":11}},{"id":"0bcbfb42-06f2-4e3a-a490-2743d17e6508","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":70,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"3a91aa80-632a-474e-a588-436cf46b3a75","block_type":"box","text":"70","page_number":70,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"e81bfc96-f131-41d8-9cca-ea7a8f8ab9b7","block_type":"box","text":"Aviva Investors: Confidential","page_number":70,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d3d6a6dd-87a1-4e47-98bd-88dac81131d8","block_type":"box","text":"Once any excluded companies have been removed from the available investment universe (see above), the Sub","page_number":70,"box":{"x":62,"y":52,"width":860,"height":12}},{"id":"6d8c4921-4b4d-4343-b958-db0f76b31b8b","block_type":"box","text":"Fund must invest in its minimum stewardship allocation. To be eligible for investment, the company must meet the","page_number":70,"box":{"x":63,"y":66,"width":860,"height":11}},{"id":"2163fe3c-5106-43b0-9d89-454a3eb3e417","block_type":"box","text":"Fund’s qualifying criteria through either the company’s:","page_number":70,"box":{"x":63,"y":80,"width":404,"height":11}},{"id":"d8aec2e2-043b-46cd-a783-0e7ab4c30138","block_type":"box","text":"","page_number":70,"box":{"x":92,"y":103,"width":6,"height":5}},{"id":"bdb8a29d-411b-45e9-ac96-e3f9a7a2d409","block_type":"box","text":"Products and Services -","page_number":70,"box":{"x":110,"y":100,"width":190,"height":9}},{"id":"0e388581-a2ed-4a19-8d34-0704d87f2a8d","block_type":"box","text":"consideration will be given to the revenue a company generates from products and","page_number":70,"box":{"x":306,"y":100,"width":616,"height":12}},{"id":"bb2095eb-2e20-4c5d-8cd3-b1bd26dc53dc","block_type":"box","text":"services that are linked to investment themes that fall under one or more of the three pillars.","page_number":70,"box":{"x":122,"y":114,"width":679,"height":11}},{"id":"934a96d7-2fde-4878-88d3-3730cd224dce","block_type":"box","text":"","page_number":70,"box":{"x":92,"y":137,"width":6,"height":5}},{"id":"05650427-4b77-4e64-8700-cf170e7aec5c","block_type":"box","text":"Operations –","page_number":70,"box":{"x":110,"y":134,"width":102,"height":11}},{"id":"d62295de-4757-4cd3-a0a7-6683c05d961c","block_type":"box","text":"consideration is given to the sustainability practices of a company’s operations. The Investment","page_number":70,"box":{"x":217,"y":134,"width":706,"height":12}},{"id":"f6c90d50-e637-4cf0-acf0-6fcaaff8dc93","block_type":"box","text":"Manager may look at a range of factors to assess a company’s operations against investment themes linked","page_number":70,"box":{"x":123,"y":148,"width":799,"height":11}},{"id":"3b2b0320-2826-454a-88c6-a9e526a9832d","block_type":"box","text":"to the three pillars, including (for example) its governance commitments, policies and actions to manage","page_number":70,"box":{"x":122,"y":162,"width":801,"height":11}},{"id":"d2105382-8943-41db-ad90-dd839ab44a29","block_type":"box","text":"social and environmental issues, and performance compared to peers.","page_number":70,"box":{"x":122,"y":175,"width":522,"height":11}},{"id":"f8568d0a-2e0d-492e-a348-5c1147983c34","block_type":"box","text":"See “Sustainability Strategy” below for how the minimum stewardship allocation is achieved","page_number":70,"box":{"x":62,"y":195,"width":739,"height":11}},{"id":"70e4c29f-ee49-43c0-bdd9-2143d0d3956c","block_type":"box","text":".","page_number":70,"box":{"x":803,"y":202,"width":2,"height":1}},{"id":"7dd0dda9-9507-428a-b06b-729c684fc987","block_type":"box","text":"Outside of its minimum stewardship allocation, up to 15% of the portfolio may be in investments that do not meet the","page_number":70,"box":{"x":62,"y":214,"width":861,"height":12}},{"id":"efef1797-1bb5-45e7-9d05-efe64256b5d2","block_type":"box","text":"standards required by the Investment Manager’s investment framework; the Investment Manager refers to these as","page_number":70,"box":{"x":62,"y":228,"width":861,"height":11}},{"id":"1a705beb-2099-4ace-bc1b-deaa7f6a8837","block_type":"box","text":"“neutral” assets. Neutral assets include investments where the Investment Manager has otherwise determined that","page_number":70,"box":{"x":62,"y":242,"width":861,"height":11}},{"id":"89cb57dc-cbfd-41bd-a21f-adbbbbefefce","block_type":"box","text":"the issuing company has an overall neutral alignment to the three pillars (see “Sustainability Strategy” below), the","page_number":70,"box":{"x":62,"y":255,"width":861,"height":12}},{"id":"e21cdeca-5f91-43bd-b961-b51423ccf40f","block_type":"box","text":"nature of the asset is such that the sustainability characteristics of the asset are not possible to assess (for example,","page_number":70,"box":{"x":62,"y":269,"width":860,"height":11}},{"id":"484db365-df52-469f-8e1b-8951ee86d180","block_type":"box","text":"cash, third-party funds and derivatives) or where there is not sufficient sustainability data available to determine if that","page_number":70,"box":{"x":62,"y":283,"width":861,"height":11}},{"id":"29413e69-cb8d-4fa9-933f-b9b447e7ae8f","block_type":"box","text":"investment meets the Investment Manager’s criteria. The Sub-Fund may hold such neutral assets in order to support","page_number":70,"box":{"x":62,"y":296,"width":861,"height":12}},{"id":"d961799c-5038-43b8-8cfa-cb4a25e0e5e0","block_type":"box","text":"the financial objectives of the Sub-Fund, for liquidity purposes and for efficient portfolio management purposes.","page_number":70,"box":{"x":62,"y":310,"width":820,"height":11}},{"id":"d67b9953-83c2-4add-b05f-82dd4f1fc733","block_type":"box","text":"The Sub-Fund’s minimum stewardship allocation will be reviewed on an ongoing basis against a range of key","page_number":70,"box":{"x":62,"y":330,"width":861,"height":11}},{"id":"6c4e8281-750b-4efe-8627-502813de86d2","block_type":"box","text":"performance indicators (KPIs) to ensure that they remain compliant with the Investment Manager’s investment","page_number":70,"box":{"x":62,"y":343,"width":861,"height":12}},{"id":"d313f264-4124-4275-938d-3cbbe35d06d1","block_type":"box","text":"framework – please see “Sustainability Strategy” below for further information.","page_number":70,"box":{"x":62,"y":357,"width":576,"height":11}},{"id":"c4954ac3-1540-4157-b0df-5f1cc923ec10","block_type":"box","text":"Performance & Risk Strategy:","page_number":70,"box":{"x":63,"y":376,"width":234,"height":12}},{"id":"e09d3e7d-0749-4470-a434-b82ea24b70d0","block_type":"box","text":"The Sub-Fund’s income return target is measured against the FTSE® All-Share Index (the “","page_number":70,"box":{"x":62,"y":396,"width":677,"height":11}},{"id":"7d2b4188-4755-485d-8983-628d40cebe39","block_type":"box","text":"Index","page_number":70,"box":{"x":741,"y":396,"width":43,"height":9}},{"id":"a229ce9c-e7ad-4ec4-bdd3-c8887f52ad18","block_type":"box","text":"”). The Sub-Fund’s","page_number":70,"box":{"x":784,"y":396,"width":139,"height":11}},{"id":"231b39c6-52b7-4aca-bea5-e5b880ae13c6","block_type":"box","text":"overall performance is measured to a customised version of the Index, the FTSE® All-Share Custom Index (the","page_number":70,"box":{"x":62,"y":410,"width":861,"height":11}},{"id":"acdab154-5db2-46b0-9b9c-2c909075e519","block_type":"box","text":"“","page_number":70,"box":{"x":62,"y":423,"width":5,"height":3}},{"id":"38bfacb0-f8de-42dc-84eb-4db038fe3f5c","block_type":"box","text":"Custom Index","page_number":70,"box":{"x":68,"y":423,"width":109,"height":9}},{"id":"7aeb2792-c07e-4c9a-866e-0cc74674b767","block_type":"box","text":"”). The Custom Index applies the same negative screening criteria as the Sub-Fund. The Sub-Fund’s","page_number":70,"box":{"x":178,"y":423,"width":745,"height":12}},{"id":"4b111e03-6142-427c-84a4-c5d890f9756f","block_type":"box","text":"performance is also compared to the Index.","page_number":70,"box":{"x":62,"y":437,"width":321,"height":11}},{"id":"57923f6b-4993-48ce-b776-1e80121d611f","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index (applying specific exclusions, and the minimum","page_number":70,"box":{"x":62,"y":457,"width":860,"height":11}},{"id":"015ac89a-387c-4c59-a303-aad1caaeb96c","block_type":"box","text":"stewardship allocation requirement, that do not apply to the Index), or Custom Index. Therefore, the Sub-Fund will","page_number":70,"box":{"x":62,"y":470,"width":860,"height":11}},{"id":"30394e54-915a-465c-9388-cef3505c21c7","block_type":"box","text":"not hold every company in either the Index or the Custom Index and may also hold companies that do not form part","page_number":70,"box":{"x":62,"y":484,"width":861,"height":11}},{"id":"690e0f69-15cb-42d5-9427-4394d67d8048","block_type":"box","text":"of them.","page_number":70,"box":{"x":62,"y":498,"width":58,"height":8}},{"id":"18d25592-2bec-4b11-a741-2bb67883a005","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":70,"box":{"x":62,"y":517,"width":861,"height":11}},{"id":"b94b2807-7ee9-4ef8-8b6d-67e6a659d7d6","block_type":"box","text":"Custom Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the","page_number":70,"box":{"x":62,"y":531,"width":861,"height":11}},{"id":"10fbfc16-6f6b-4fda-a112-608970692e5b","block_type":"box","text":"Custom Index, and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2%","page_number":70,"box":{"x":62,"y":544,"width":860,"height":12}},{"id":"9df400bc-23ef-43b6-99cb-6dd46862f008","block_type":"box","text":"and 6% when compared to the Custom Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":70,"box":{"x":62,"y":558,"width":820,"height":11}},{"id":"e4988e3d-e3fd-4e5a-83dc-0292a0ea59e8","block_type":"box","text":"The Index represents the performance of all eligible companies listed on the London Stock Exchange, and 98% of","page_number":70,"box":{"x":62,"y":578,"width":861,"height":11}},{"id":"5c4f9a04-67d9-46f1-81b7-f0aba97a2494","block_type":"box","text":"the UK’s market capitalisation (total market value of a company’s outstanding shares). The Index has been selected","page_number":70,"box":{"x":62,"y":591,"width":861,"height":12}},{"id":"23e06880-c4cf-4e19-93fc-6bdf1abc52c8","block_type":"box","text":"as a benchmark for the income target because it is representative of the UK equity market and the type of companies","page_number":70,"box":{"x":62,"y":605,"width":861,"height":11}},{"id":"91e1a5be-d67c-40ec-81c8-298992c315c1","block_type":"box","text":"in which the Sub-Fund is likely to invest. It is therefore an appropriate target in relation to the income return and as a","page_number":70,"box":{"x":62,"y":619,"width":861,"height":11}},{"id":"a3b0993e-14a7-485d-9313-fd3eb42e03e3","block_type":"box","text":"comparator for the Sub-Fund’s overall performance, although investors should be aware that due to the Sub-Fund’s","page_number":70,"box":{"x":62,"y":632,"width":860,"height":12}},{"id":"22ba1164-facc-4140-908b-1114f0b085ba","block_type":"box","text":"specific exclusions the Index will contain more companies than those available for investment by the Sub-Fund. The","page_number":70,"box":{"x":62,"y":646,"width":861,"height":11}},{"id":"6b754839-89f3-40fa-a2d9-88547a731674","block_type":"box","text":"Custom Index has therefore been selected as the measure for the Sub-Fund’s overall performance and for risk","page_number":70,"box":{"x":62,"y":660,"width":861,"height":11}},{"id":"145c800d-1750-4184-a107-7f1591b184b6","block_type":"box","text":"measurement, as it excludes companies from the Index in line with the Sub-Fund’s negative screening criteria and","page_number":70,"box":{"x":62,"y":673,"width":861,"height":12}},{"id":"9ab65bde-60cc-4f4a-948e-6053af00b207","block_type":"box","text":"therefore reflects the companies available to be selected by the Sub-Fund. Both the Index and the Custom Index are","page_number":70,"box":{"x":62,"y":687,"width":861,"height":11}},{"id":"dda3c9fa-ff28-4e6f-a7d2-9a27405c5e63","block_type":"box","text":"considered appropriate measures for the Sub-Fund’s performance. The Index provides an indication of the","page_number":70,"box":{"x":62,"y":701,"width":861,"height":11}},{"id":"29d58cd2-a76d-4618-bb2e-ab2c0f99de2d","block_type":"box","text":"performance of UK equities, helping investors to understand the impact on performance of applying the stewardship","page_number":70,"box":{"x":62,"y":714,"width":861,"height":12}},{"id":"a6c469cc-38f3-4c25-9b36-74c438be5e42","block_type":"box","text":"exclusions. The Custom Index shows the performance of UK equities with the additional exclusions applied by the","page_number":70,"box":{"x":62,"y":728,"width":861,"height":11}},{"id":"21d32e28-84ec-4153-885f-3fbc04db5263","block_type":"box","text":"Sub-Fund, helping investors to understand the impact on performance of the investment strategy and stock selection","page_number":70,"box":{"x":62,"y":742,"width":860,"height":11}},{"id":"7515526c-b684-45bb-ad53-f4a657cf9f6b","block_type":"box","text":"processes employed by the Investment Manager.","page_number":70,"box":{"x":62,"y":755,"width":365,"height":12}},{"id":"42e94c4e-f60b-4948-90df-cd31f8de6c73","block_type":"box","text":"The Sub-Fund’s Sustainability Strategy","page_number":70,"box":{"x":62,"y":794,"width":312,"height":12}},{"id":"eee138f5-cbf7-4e10-946d-f3a9b5e8209c","block_type":"box","text":"The Investment Manager’s investment framework requires an asset to contribute to one of three pillars, being Climate,","page_number":70,"box":{"x":62,"y":814,"width":860,"height":11}},{"id":"fdd80cbb-ee5e-4061-a446-9f68b2108d97","block_type":"box","text":"Earth and People. These pillars have been developed to encapsulate the aims of the United Nations’ Sustainable","page_number":70,"box":{"x":63,"y":828,"width":860,"height":11}},{"id":"8b87c3e5-4a0e-47e9-ba3d-5487b42ef0cc","block_type":"box","text":"Development Goals (","page_number":70,"box":{"x":63,"y":841,"width":166,"height":11}},{"id":"834ba52c-c8b7-4f37-a566-d5e454ea2783","block_type":"box","text":"SDGs","page_number":70,"box":{"x":231,"y":841,"width":44,"height":9}},{"id":"4fbf04d0-c5f6-4011-815a-d4633bcaa54d","block_type":"box","text":"), which the Investment Manager believes provide a global consensus on major","page_number":70,"box":{"x":276,"y":841,"width":647,"height":12}},{"id":"2c8d5b57-116a-4c62-9454-b135c141735c","block_type":"box","text":"developmental challenges facing the world and on what activities or behaviours can (or can’t) be categorised as","page_number":70,"box":{"x":62,"y":855,"width":860,"height":11}},{"id":"4756a064-f904-4cb8-b8a4-e22ad556cb0e","block_type":"box","text":"“sustainable”.","page_number":70,"box":{"x":62,"y":869,"width":99,"height":9}},{"id":"45415c58-4134-43a9-8ceb-b6ba2a5eabe7","block_type":"box","text":"Following the exclusion of companies by the stewardship exclusions (as described above), to determine if an asset","page_number":70,"box":{"x":63,"y":888,"width":860,"height":12}},{"id":"8052b806-58ab-4f24-8be5-6d505e13e343","block_type":"box","text":"is eligible for the Sub-Fund’s minimum stewardship allocation, the Investment Manager conducts a “deep dive","page_number":70,"box":{"x":62,"y":902,"width":861,"height":11}},{"id":"0147b18c-1d34-4ae8-8484-13ad3d856e64","block_type":"box","text":"assessment” to see if the issuer meets the Sub-Fund’s qualifying criteria through either the issuer’s:","page_number":70,"box":{"x":62,"y":916,"width":736,"height":11}},{"id":"329d0dc2-0098-4f7b-b388-961c06190576","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":71,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"94fb873e-78f0-49aa-abb7-64bb11eb1706","block_type":"box","text":"71","page_number":71,"box":{"x":787,"y":940,"width":10,"height":6}},{"id":"d59cef43-611b-4085-beba-e33f85714d3a","block_type":"box","text":"Aviva Investors: Confidential","page_number":71,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"c0ae1707-19b2-4154-b6a6-4de66dd90905","block_type":"box","text":"","page_number":71,"box":{"x":92,"y":73,"width":6,"height":4}},{"id":"2735a1b8-c94e-42d5-9c05-df380c0b8900","block_type":"box","text":"Products and Services,","page_number":71,"box":{"x":123,"y":70,"width":186,"height":10}},{"id":"3e153a74-cb37-4fcd-bfa2-ac053c13c859","block_type":"box","text":"looking at","page_number":71,"box":{"x":317,"y":70,"width":71,"height":11}},{"id":"9ab1fb83-481f-41b7-af3e-146cfc19f78c","block_type":"box","text":"the revenues that companies generate through products and services,","page_number":71,"box":{"x":394,"y":70,"width":528,"height":11}},{"id":"483dae39-6024-42b0-91b1-d85573039a0d","block_type":"box","text":"consideration will be given to the revenue a company generates from products and services in business","page_number":71,"box":{"x":123,"y":83,"width":800,"height":12}},{"id":"6b5e257c-4177-4dc4-b4f4-e9b508aa682d","block_type":"box","text":"segments that are linked to investment themes that fall under one or more of the three pillars.","page_number":71,"box":{"x":122,"y":97,"width":690,"height":11}},{"id":"7cbb1769-4c79-4ffa-b7cd-ab4e737f685c","block_type":"box","text":"","page_number":71,"box":{"x":92,"y":115,"width":6,"height":4}},{"id":"e875e55c-b317-449c-86ba-b7d43bbba995","block_type":"box","text":"Operations,","page_number":71,"box":{"x":123,"y":112,"width":91,"height":11}},{"id":"0b4db60d-8aa1-44a8-a113-28846f24fe27","block_type":"box","text":"considering the sustainability practices of a company’s operations, the Investment Manager may","page_number":71,"box":{"x":220,"y":112,"width":703,"height":11}},{"id":"f15990bd-5659-4609-935a-14b7f5256e30","block_type":"box","text":"look at a range of factors to assess a company’s operations against investment themes linked to the three","page_number":71,"box":{"x":123,"y":125,"width":800,"height":11}},{"id":"813aec40-81a6-413b-9d58-37182d16ac87","block_type":"box","text":"pillars, including (for example) its governance commitments, policies and actions to manage social and","page_number":71,"box":{"x":123,"y":139,"width":799,"height":11}},{"id":"11f12fb6-bdb1-44ec-b35d-7d247584e2c5","block_type":"box","text":"environmental issues, and performance compared to peers.","page_number":71,"box":{"x":123,"y":153,"width":441,"height":11}},{"id":"664405eb-4eb6-4232-bcda-420ddae1b2d0","block_type":"box","text":"Assets may qualify for investment where the issuer, either through their products and services or through their","page_number":71,"box":{"x":62,"y":180,"width":861,"height":11}},{"id":"445f2112-b86d-4998-949d-51f636f1c80d","block_type":"box","text":"operations, is aligned to investment themes tied to one of the three pillars of Climate, Earth or People, and","page_number":71,"box":{"x":62,"y":193,"width":860,"height":12}},{"id":"020a8768-6c23-4d2b-86db-3ba6bd96f77e","block_type":"box","text":"consequently to the associated UN SDGs:","page_number":71,"box":{"x":62,"y":207,"width":312,"height":11}},{"id":"7a847667-3659-4858-a7fb-de47858e8f3e","block_type":"box","text":"Products and Services","page_number":71,"box":{"x":63,"y":234,"width":166,"height":9}},{"id":"a9dd91c0-2450-4f5f-9904-36308c78f01d","block_type":"box","text":"Pillar","page_number":71,"box":{"x":64,"y":265,"width":37,"height":8}},{"id":"cedcd888-887e-4295-8877-6cc16241d2f6","block_type":"box","text":"Investment themes","page_number":71,"box":{"x":122,"y":265,"width":137,"height":8}},{"id":"a3def909-3dce-4e66-a096-ab2e73b8027a","block_type":"box","text":"Theme relevance","page_number":71,"box":{"x":298,"y":265,"width":122,"height":8}},{"id":"ef429632-4eda-49ac-880e-79a77f14a89e","block_type":"box","text":"Relevant SDG‡","page_number":71,"box":{"x":671,"y":265,"width":99,"height":8}},{"id":"6d50dc48-e989-4305-97a4-7dbee38501b0","block_type":"box","text":"G‡","page_number":71,"box":{"x":770,"y":264,"width":6,"height":6}},{"id":"c5ef5630-e3fb-4996-b43f-e8d02ee08567","block_type":"box","text":"Climate","page_number":71,"box":{"x":63,"y":423,"width":54,"height":8}},{"id":"7416dd3f-b802-4df6-a170-15568142ab1e","block_type":"box","text":"Sustainable/Alternative","page_number":71,"box":{"x":122,"y":280,"width":166,"height":8}},{"id":"fc215c1c-a1ed-441c-af02-a91923b46bf6","block_type":"box","text":"energy","page_number":71,"box":{"x":122,"y":294,"width":49,"height":9}},{"id":"c36d0e4b-ff46-4589-9f63-4025d2494d25","block_type":"box","text":"Sustainable energy and electrification are key","page_number":71,"box":{"x":297,"y":280,"width":371,"height":10}},{"id":"49b12f38-397c-4f60-9d00-4ac706decdf3","block_type":"box","text":"components of SDG 7, which aims to ensure access to","page_number":71,"box":{"x":297,"y":292,"width":371,"height":10}},{"id":"cb2b7865-64a0-40c6-9812-6e808708c187","block_type":"box","text":"affordable, reliable, sustainable, and modern energy for","page_number":71,"box":{"x":297,"y":305,"width":371,"height":10}},{"id":"725a6beb-2053-4c1b-9f17-ffcd009d6832","block_type":"box","text":"all.","page_number":71,"box":{"x":297,"y":317,"width":17,"height":8}},{"id":"e013ff0f-501b-47e5-8caf-ce36a735cac9","block_type":"box","text":"7 –","page_number":71,"box":{"x":670,"y":280,"width":26,"height":8}},{"id":"1cc5d878-2591-4e1d-9a42-1f8f92276705","block_type":"box","text":"Affordable and","page_number":71,"box":{"x":706,"y":280,"width":112,"height":8}},{"id":"4dd17acd-c34b-41ae-ac81-0ca74813b8c4","block_type":"box","text":"Clean Energy","page_number":71,"box":{"x":670,"y":292,"width":96,"height":11}},{"id":"cd361161-d804-4172-a213-e9aff8665aeb","block_type":"box","text":"Electrification","page_number":71,"box":{"x":123,"y":306,"width":98,"height":7}},{"id":"36cdfc06-1c8c-4899-91a3-2c74b49f03ad","block_type":"box","text":"Sustainable Buildings","page_number":71,"box":{"x":122,"y":330,"width":172,"height":10}},{"id":"d31d3357-647e-41af-9619-c846fda89f59","block_type":"box","text":"and Infrastructure","page_number":71,"box":{"x":122,"y":342,"width":129,"height":8}},{"id":"d4f3e6ce-154e-4799-a80c-147838b90555","block_type":"box","text":"Sustainable building, as part of the broader Sustainable","page_number":71,"box":{"x":297,"y":330,"width":371,"height":10}},{"id":"32a0d5b8-4a87-4f03-9149-7ad2067ea12c","block_type":"box","text":"Urbanisation, is a crucial aspect of achieving several","page_number":71,"box":{"x":297,"y":342,"width":370,"height":11}},{"id":"4b97a08e-82d9-4a20-8688-50a853cc6814","block_type":"box","text":"SDGs, but particularly SDGs 9 and 11, which focus on","page_number":71,"box":{"x":297,"y":355,"width":370,"height":10}},{"id":"e455af9d-432b-484e-bb71-481930a42247","block_type":"box","text":"making cities and human settlements inclusive, safe,","page_number":71,"box":{"x":297,"y":367,"width":370,"height":10}},{"id":"10ccd138-cdf6-4608-9f88-66014413a8e3","block_type":"box","text":"resilient, and sustainable.","page_number":71,"box":{"x":297,"y":379,"width":168,"height":10}},{"id":"03578055-db80-4ac9-a1a6-9da7dc5f8fe2","block_type":"box","text":"9 –","page_number":71,"box":{"x":670,"y":330,"width":50,"height":8}},{"id":"f488baa2-9e26-4092-9536-358ccee38d0b","block_type":"box","text":"Industry,","page_number":71,"box":{"x":755,"y":330,"width":63,"height":10}},{"id":"a778c85c-9b03-4ddf-af29-48b4dde0d1b5","block_type":"box","text":"Innovation and","page_number":71,"box":{"x":670,"y":342,"width":148,"height":8}},{"id":"889fbe45-3f9f-40f6-95f4-bfca436f586b","block_type":"box","text":"infrastructure","page_number":71,"box":{"x":670,"y":355,"width":98,"height":8}},{"id":"7b3d4215-223e-4b52-b192-33dac504a588","block_type":"box","text":"11 –","page_number":71,"box":{"x":670,"y":380,"width":44,"height":7}},{"id":"4610d9e6-dd39-4806-bd22-0e3b4a5ce232","block_type":"box","text":"Sustainable","page_number":71,"box":{"x":734,"y":379,"width":84,"height":8}},{"id":"cdd3bc4f-993d-4e28-9386-79b87be63cff","block_type":"box","text":"Cities and","page_number":71,"box":{"x":670,"y":392,"width":148,"height":8}},{"id":"e44d642d-83b8-494a-a791-abf7c545a5ea","block_type":"box","text":"Communities","page_number":71,"box":{"x":670,"y":404,"width":95,"height":8}},{"id":"fccc4178-228a-4dc1-b00a-5f16bc1dbfca","block_type":"box","text":"Sustainable transport","page_number":71,"box":{"x":122,"y":392,"width":155,"height":10}},{"id":"e94fd643-151b-4f47-94a3-dd632bea30c5","block_type":"box","text":"Sustainable transport aims to provide universal access,","page_number":71,"box":{"x":297,"y":392,"width":370,"height":10}},{"id":"0eeef71e-83a8-4490-ba07-9d437a876877","block_type":"box","text":"enhance safety, reduce environmental impact, improve","page_number":71,"box":{"x":297,"y":405,"width":371,"height":10}},{"id":"5a9b8868-aa40-497c-9b07-67b60e5d81d0","block_type":"box","text":"resilience, and increase efficiency. It is integrated across","page_number":71,"box":{"x":297,"y":417,"width":371,"height":10}},{"id":"4cbc22ca-19ea-4afe-a3d1-2a9280de35a3","block_type":"box","text":"several goals and targets but has been captured in the","page_number":71,"box":{"x":297,"y":429,"width":371,"height":11}},{"id":"0672cb85-e4d9-400c-ac92-0b017ab294d4","block_type":"box","text":"Climate pillar due to its impor","page_number":71,"box":{"x":297,"y":442,"width":195,"height":10}},{"id":"9f56b844-0362-464f-8455-f2e4bd5ed01e","block_type":"box","text":"tance in decarbonising the","page_number":71,"box":{"x":492,"y":442,"width":176,"height":10}},{"id":"d48cfbe5-e9f4-473a-a786-628bb2e692e9","block_type":"box","text":"economy.","page_number":71,"box":{"x":297,"y":456,"width":63,"height":8}},{"id":"47d158ae-6800-4062-8cfb-9ad6172b4416","block_type":"box","text":"Sustainable tourism","page_number":71,"box":{"x":122,"y":467,"width":143,"height":8}},{"id":"2576602b-c701-4718-bc67-f97b9301b7c3","block_type":"box","text":"Sustainable tourism is specifically highlighted in several","page_number":71,"box":{"x":297,"y":467,"width":370,"height":10}},{"id":"c5150eb9-b825-4ec0-861d-148018e18be7","block_type":"box","text":"goals as sustainable tourism seeks to balance the needs","page_number":71,"box":{"x":297,"y":480,"width":371,"height":10}},{"id":"0d3f3961-749a-426c-b806-b5f0bb53db3d","block_type":"box","text":"of visitors, the industry, the environment, and host","page_number":71,"box":{"x":297,"y":492,"width":371,"height":10}},{"id":"a7269c18-b061-4996-8070-51d29635dbcb","block_type":"box","text":"communities.","page_number":71,"box":{"x":297,"y":504,"width":87,"height":8}},{"id":"f87e7e0f-768a-46f5-8430-80e50fd7178f","block_type":"box","text":"As the investment theme is specifically","page_number":71,"box":{"x":394,"y":504,"width":274,"height":10}},{"id":"0ff8e786-5faf-445f-917d-5a09455aad3a","block_type":"box","text":"focussed on reducing the impact on","page_number":71,"box":{"x":296,"y":516,"width":248,"height":10}},{"id":"636a1a3c-21d9-491b-8043-7f7ea748e62f","block_type":"box","text":"climate change it","page_number":71,"box":{"x":551,"y":516,"width":117,"height":10}},{"id":"55075806-caac-4053-ae5e-041f7f23e727","block_type":"box","text":"has been captured in the Climate pillar.","page_number":71,"box":{"x":297,"y":528,"width":260,"height":11}},{"id":"45167cdb-7ee4-46b6-a0c8-e82b04efb311","block_type":"box","text":"Disaster risk reduction","page_number":71,"box":{"x":123,"y":542,"width":171,"height":8}},{"id":"062597fd-f537-46c7-863b-f43ee832c612","block_type":"box","text":"and resilience","page_number":71,"box":{"x":122,"y":554,"width":100,"height":8}},{"id":"8fc390cd-9f58-41d7-851a-29ce160286e0","block_type":"box","text":"Disaster risk reduction (DRR) is integrated across","page_number":71,"box":{"x":297,"y":542,"width":371,"height":10}},{"id":"25753d5d-b43c-4299-89aa-ad3eadf207d5","block_type":"box","text":"multiple goals and targets. As the impacts of climate","page_number":71,"box":{"x":297,"y":554,"width":371,"height":10}},{"id":"6ce512a8-c34c-4e6b-abcd-22e6d39137fc","block_type":"box","text":"change significantly increase the need for resilience,","page_number":71,"box":{"x":297,"y":566,"width":370,"height":10}},{"id":"9a1e415f-75da-434f-a610-69a1b6a4fbec","block_type":"box","text":"DRR has been captured in the Climate pillar.","page_number":71,"box":{"x":297,"y":579,"width":297,"height":10}},{"id":"ca7851fb-5b44-47b0-8294-8f3c479fc240","block_type":"box","text":"Earth","page_number":71,"box":{"x":64,"y":685,"width":36,"height":8}},{"id":"f23a5210-7063-4f31-a5f1-8767d0d4b6ab","block_type":"box","text":"Sustainable water","page_number":71,"box":{"x":122,"y":592,"width":173,"height":8}},{"id":"773098b2-ec27-4e28-9ffb-8e822d1c5917","block_type":"box","text":"services","page_number":71,"box":{"x":122,"y":604,"width":60,"height":8}},{"id":"a2e88c5f-a8f3-4ae5-ac8c-9eeedc11e569","block_type":"box","text":"Water services and sanitation are a critical focus of the","page_number":71,"box":{"x":296,"y":592,"width":372,"height":8}},{"id":"86c1af6e-55f1-4ce0-abf2-4c4e92bb320c","block_type":"box","text":"SDGs, particularly under SDG 6. This goal aims to","page_number":71,"box":{"x":297,"y":604,"width":371,"height":10}},{"id":"fea31062-f7c8-4b47-a8e5-7662c3e87612","block_type":"box","text":"ensure availability and sustainable management of","page_number":71,"box":{"x":297,"y":616,"width":371,"height":11}},{"id":"2fd0e14f-553c-4eea-b6aa-907c1162b154","block_type":"box","text":"water and sanitation for all by 2030.","page_number":71,"box":{"x":296,"y":629,"width":238,"height":10}},{"id":"feedd756-8d96-4c6f-8be0-cf40848dbd70","block_type":"box","text":"6 –","page_number":71,"box":{"x":670,"y":592,"width":22,"height":8}},{"id":"efcc616d-a310-4e81-800b-b84dd286b110","block_type":"box","text":"Clean Water and","page_number":71,"box":{"x":698,"y":592,"width":120,"height":8}},{"id":"000437f8-372f-4227-bb54-5f80e3e400dc","block_type":"box","text":"Sanitation","page_number":71,"box":{"x":670,"y":604,"width":72,"height":8}},{"id":"484020fa-50f9-4713-b911-4f8fdaf51dee","block_type":"box","text":"Sanitation","page_number":71,"box":{"x":122,"y":617,"width":72,"height":8}},{"id":"043ccb83-628a-47eb-9855-c59355066bd6","block_type":"box","text":"Circular economy and","page_number":71,"box":{"x":122,"y":642,"width":172,"height":10}},{"id":"dac696b6-49ac-4cd6-a18c-c55f15d0e98a","block_type":"box","text":"waste management","page_number":71,"box":{"x":122,"y":655,"width":139,"height":9}},{"id":"c9b03269-6ba5-4d99-9b84-236bd1beeef6","block_type":"box","text":"Circular economy and waste management are integral","page_number":71,"box":{"x":297,"y":642,"width":370,"height":10}},{"id":"9911a66c-030e-43a9-b577-f99071be9a75","block_type":"box","text":"to achieving several of the SDGs, but is most pertinent","page_number":71,"box":{"x":296,"y":654,"width":372,"height":10}},{"id":"ef3fa9a0-d166-459b-a608-ef1bb9b214c7","block_type":"box","text":"to SDG 12, where integrating circular economy","page_number":71,"box":{"x":296,"y":666,"width":372,"height":11}},{"id":"34cb299a-5b53-427e-b7ca-5b66e515dc20","block_type":"box","text":"principles into product management can significantly","page_number":71,"box":{"x":297,"y":679,"width":371,"height":10}},{"id":"5dededdc-404d-47af-83d8-44e869ff9253","block_type":"box","text":"enhance sustainability efforts.","page_number":71,"box":{"x":297,"y":691,"width":197,"height":10}},{"id":"61746af4-5f55-44f8-bdd2-8a3b0444e4ab","block_type":"box","text":"12 –","page_number":71,"box":{"x":670,"y":642,"width":42,"height":8}},{"id":"6d883573-b10f-481a-be0d-4e30e2b4b7ff","block_type":"box","text":"Responsible","page_number":71,"box":{"x":730,"y":642,"width":88,"height":10}},{"id":"5c20366b-f2ed-44b9-a7e7-02a2743ca8a5","block_type":"box","text":"Consumption and","page_number":71,"box":{"x":670,"y":654,"width":148,"height":10}},{"id":"ada4d347-534f-4a5e-81d4-90edf2462573","block_type":"box","text":"Production","page_number":71,"box":{"x":671,"y":667,"width":77,"height":7}},{"id":"1a41d9f7-7d32-4f4a-a4a3-d15c8d248ef6","block_type":"box","text":"Recycling solutions","page_number":71,"box":{"x":123,"y":704,"width":141,"height":10}},{"id":"3afffc27-ca10-4675-8c65-3fe8312ff7b6","block_type":"box","text":"Recycling is a key component of SDG 12 which aims to","page_number":71,"box":{"x":297,"y":704,"width":371,"height":10}},{"id":"307247b3-9f7a-4192-b5a9-b70efa519fcd","block_type":"box","text":"ensure sustainable consumption and production","page_number":71,"box":{"x":297,"y":717,"width":370,"height":10}},{"id":"d3d2060b-fbc9-4211-93ca-d1ea54ed2cd7","block_type":"box","text":"patterns.","page_number":71,"box":{"x":297,"y":729,"width":57,"height":10}},{"id":"c895e8b8-a793-42ec-934d-a56ab48a3ed6","block_type":"box","text":"Sustainable","page_number":71,"box":{"x":122,"y":742,"width":84,"height":8}},{"id":"000ac764-2ef6-468c-86c0-5ea7598fff49","block_type":"box","text":"agriculture","page_number":71,"box":{"x":122,"y":754,"width":77,"height":10}},{"id":"af3aa62e-a577-4721-a0de-83c48bba0c96","block_type":"box","text":"Sustainable agriculture contributes significantly to both","page_number":71,"box":{"x":297,"y":742,"width":370,"height":10}},{"id":"28ce2763-ccda-42fa-8685-d76e4306658b","block_type":"box","text":"SDG 2 and SDG 15. As the key related targets of SDG","page_number":71,"box":{"x":297,"y":754,"width":370,"height":10}},{"id":"e4baf944-1b56-410d-b40e-a50dbc3a0c18","block_type":"box","text":"2 align to agricultural practices the theme has been","page_number":71,"box":{"x":296,"y":767,"width":371,"height":10}},{"id":"a83a40d9-d9ef-48fb-b87f-6231f2cf956b","block_type":"box","text":"captured in the Earth pillar.","page_number":71,"box":{"x":297,"y":779,"width":179,"height":10}},{"id":"251de7d8-a90c-40d1-b366-1e1e04607409","block_type":"box","text":"15 – Life on Land","page_number":71,"box":{"x":670,"y":742,"width":122,"height":8}},{"id":"da05cbf6-ab0b-456d-abc8-0cc0466f18eb","block_type":"box","text":"‡","page_number":71,"box":{"x":62,"y":917,"width":3,"height":4}},{"id":"929ee3af-5999-4720-9adf-7f91fd25eeb7","block_type":"box","text":"https://sdgs.un.org/sustainabledevelopment","page_number":71,"box":{"x":70,"y":916,"width":290,"height":10}},{"id":"9e901d46-8022-4fec-a06d-c9bfd40b23ae","block_type":"box","text":". The content of this publication has not been approved by the United Nations and does not reflect the","page_number":71,"box":{"x":362,"y":918,"width":561,"height":8}},{"id":"22c05e30-1a5f-448e-b1dc-d6e4d0c9c950","block_type":"box","text":"views of the United Nations or its officials or Member States.","page_number":71,"box":{"x":74,"y":929,"width":331,"height":7}},{"id":"3b2587b8-3ef8-4ba6-a565-39755c6951ce","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":72,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"c15b7619-1029-458a-b94c-c7b75b1e8305","block_type":"box","text":"72","page_number":72,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"a43853ab-345f-4d8d-9399-60aaf6b875b8","block_type":"box","text":"Aviva Investors: Confidential","page_number":72,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"2e38ab82-7c46-4578-907b-d5cfd05850c8","block_type":"box","text":"Sustainable Forestry","page_number":72,"box":{"x":122,"y":53,"width":149,"height":10}},{"id":"357f5fc0-4b22-4efb-9607-0d676a66bd1f","block_type":"box","text":"Sustainable forestry principles link explicitly to SDG 15","page_number":72,"box":{"x":297,"y":53,"width":371,"height":10}},{"id":"4b48a3a5-7a3e-4c67-869c-4615510498fb","block_type":"box","text":"which aims to protect, restore, and promote the","page_number":72,"box":{"x":296,"y":66,"width":372,"height":9}},{"id":"f2064379-f955-4269-a2a0-0d5e23b1d8fb","block_type":"box","text":"sustainable use of terrestrial ecosystems.","page_number":72,"box":{"x":297,"y":78,"width":275,"height":10}},{"id":"5917e607-37b5-4d0b-9918-85ded33056f3","block_type":"box","text":"Sustainable oceans","page_number":72,"box":{"x":122,"y":91,"width":140,"height":8}},{"id":"7e939421-d5ca-43b7-b7c4-c2aef3827b4d","block_type":"box","text":"Sustainable oceans are the focus of the SDG 14, which","page_number":72,"box":{"x":297,"y":91,"width":370,"height":9}},{"id":"c8ee8911-11e3-4a26-9fe7-5f22fd05ab6b","block_type":"box","text":"aims to conserve and sustainably use the oceans, seas,","page_number":72,"box":{"x":297,"y":103,"width":370,"height":10}},{"id":"2d7eac21-bf03-4e4c-b911-0a2911aa8cf6","block_type":"box","text":"and marine resources.","page_number":72,"box":{"x":297,"y":116,"width":148,"height":7}},{"id":"8e40541f-f1a7-40ec-af98-071dcc652d91","block_type":"box","text":"14 –","page_number":72,"box":{"x":670,"y":91,"width":42,"height":8}},{"id":"0d4c6bb0-57bd-49f1-ae45-02e2f32e36cf","block_type":"box","text":"Life Below","page_number":72,"box":{"x":731,"y":91,"width":87,"height":8}},{"id":"a396d376-d641-44da-bbf5-31580d68660a","block_type":"box","text":"Water","page_number":72,"box":{"x":670,"y":103,"width":41,"height":8}},{"id":"18838af4-c6f7-4737-aab4-232a26651876","block_type":"box","text":"People","page_number":72,"box":{"x":64,"y":232,"width":48,"height":10}},{"id":"73414a8f-64f3-4cf9-b1eb-c69a8bb2f8a2","block_type":"box","text":"Affordable Housing","page_number":72,"box":{"x":122,"y":131,"width":139,"height":10}},{"id":"0e1f0b7d-a79c-4477-84f1-1ba91236d70b","block_type":"box","text":"Affordable and safe housing is considered a key element","page_number":72,"box":{"x":296,"y":131,"width":372,"height":10}},{"id":"b9027a0d-01e3-46e7-b13d-34a0567f0628","block_type":"box","text":"of SDG 1, with improving living standards being","page_number":72,"box":{"x":297,"y":143,"width":370,"height":10}},{"id":"74225a2d-00e5-4bd8-962d-54d352661bc3","block_type":"box","text":"considered a key contributor to reducing poverty.","page_number":72,"box":{"x":297,"y":155,"width":325,"height":10}},{"id":"9c03f61a-db90-40fe-a62a-558f6b60037c","block_type":"box","text":"1 – No Poverty","page_number":72,"box":{"x":670,"y":131,"width":104,"height":10}},{"id":"b3728ca2-c1eb-4caf-acd2-791be8091ef7","block_type":"box","text":"Access to Nutrition","page_number":72,"box":{"x":122,"y":168,"width":137,"height":8}},{"id":"dab8acb1-7c55-4a06-8479-f64be27ada01","block_type":"box","text":"Access to nutrition is a key component of SDG 2 -","page_number":72,"box":{"x":296,"y":168,"width":336,"height":10}},{"id":"78c4fa2c-58dc-4c5a-903e-3fe9e4be3cf7","block_type":"box","text":"Zero","page_number":72,"box":{"x":637,"y":168,"width":31,"height":8}},{"id":"94bc328e-6ea7-472b-8da1-71194cbda16d","block_type":"box","text":"Hunger. This goal aims to end hunger, achieve food","page_number":72,"box":{"x":297,"y":181,"width":370,"height":10}},{"id":"b85489a0-b7e0-4727-a2e9-4c6c1d02adde","block_type":"box","text":"security, improve nutrition, and promote sustainable","page_number":72,"box":{"x":297,"y":193,"width":371,"height":10}},{"id":"87eca564-1045-481f-91a9-d7b26a9cb59a","block_type":"box","text":"agriculture by 2030.","page_number":72,"box":{"x":297,"y":205,"width":131,"height":10}},{"id":"a5359612-916d-4740-ab9d-12cb34ba4477","block_type":"box","text":"2 – Zero Hunger","page_number":72,"box":{"x":670,"y":168,"width":115,"height":10}},{"id":"042034f5-37c4-4079-85df-136f2d77e9fd","block_type":"box","text":"Healthcare","page_number":72,"box":{"x":123,"y":218,"width":76,"height":8}},{"id":"e9cb753b-5d00-418b-b4a3-851f30b42948","block_type":"box","text":"Healthcare is a central focus of SDG 3: Good Health and","page_number":72,"box":{"x":297,"y":218,"width":370,"height":8}},{"id":"5c7f72fd-2140-46b7-84c6-909756e127e6","block_type":"box","text":"Well-","page_number":72,"box":{"x":296,"y":231,"width":34,"height":8}},{"id":"b779b4f7-f38f-4f2a-a30a-183ba20dce5f","block_type":"box","text":"being. This goal aims to ensure healthy lives and","page_number":72,"box":{"x":332,"y":231,"width":336,"height":10}},{"id":"bb1c2b32-2dec-4af2-b251-af1cb04437a0","block_type":"box","text":"promote well-being for all at all ages by 2030.","page_number":72,"box":{"x":297,"y":243,"width":302,"height":10}},{"id":"5da8ad2d-6021-4348-b364-69516b92fe7d","block_type":"box","text":"3 –","page_number":72,"box":{"x":670,"y":219,"width":21,"height":7}},{"id":"38691773-2ba0-4db9-872e-a2680b178bc7","block_type":"box","text":"Good Health and","page_number":72,"box":{"x":697,"y":218,"width":121,"height":8}},{"id":"45b3ac04-5074-4cbc-bfce-e0298e926ff5","block_type":"box","text":"Well-Being","page_number":72,"box":{"x":670,"y":231,"width":77,"height":10}},{"id":"5bbf2094-ff2b-4048-a182-8b78f92bcb03","block_type":"box","text":"Access to education","page_number":72,"box":{"x":122,"y":258,"width":158,"height":8}},{"id":"cf662f68-7514-4ecd-a72c-624a7c50c703","block_type":"box","text":"Access to education is a key focus of SDG 4, which aims","page_number":72,"box":{"x":296,"y":258,"width":372,"height":10}},{"id":"06fa53ce-353a-4057-8216-9fdd1983c1c5","block_type":"box","text":"to ensure inclusive and equitable quality education and","page_number":72,"box":{"x":296,"y":270,"width":371,"height":10}},{"id":"fe05ed0c-c294-47d6-9bf9-14f768127642","block_type":"box","text":"promote lifelong learning opportunities for all.","page_number":72,"box":{"x":297,"y":283,"width":300,"height":10}},{"id":"6d2cb309-38e0-40d0-91f4-da837b0581a7","block_type":"box","text":"4","page_number":72,"box":{"x":670,"y":258,"width":7,"height":8}},{"id":"24f9190c-77d6-434e-83fe-5848b95f3dbd","block_type":"box","text":"–","page_number":72,"box":{"x":718,"y":262,"width":9,"height":1}},{"id":"ddce6854-35f5-443e-9cca-42a160701658","block_type":"box","text":"Quality","page_number":72,"box":{"x":768,"y":258,"width":50,"height":10}},{"id":"98fe9276-dbea-4a1a-ba76-f0e5c616b3f7","block_type":"box","text":"Education","page_number":72,"box":{"x":671,"y":270,"width":71,"height":8}},{"id":"52afc293-fe10-40f9-a8e6-af8f7fe1a621","block_type":"box","text":"Access to finance","page_number":72,"box":{"x":122,"y":296,"width":128,"height":8}},{"id":"94fd0310-ad8a-4795-8061-25105252e7e7","block_type":"box","text":"Access to finance is a crucial aspect of achieving the","page_number":72,"box":{"x":296,"y":296,"width":372,"height":10}},{"id":"ed9abfc8-bfd6-4fc9-9c34-f1518cbf8db7","block_type":"box","text":"SDGs particularly SDG 8, which focuses on promoting","page_number":72,"box":{"x":297,"y":308,"width":370,"height":10}},{"id":"cee89308-9ead-4b66-a0ef-3bceee73c8cf","block_type":"box","text":"sustained, inclusive, and sustainable economic growth,","page_number":72,"box":{"x":297,"y":320,"width":370,"height":10}},{"id":"67a816f6-8ca2-45f9-89db-2a9cdfdb1529","block_type":"box","text":"full and productive employment, and decent work for all.","page_number":72,"box":{"x":296,"y":333,"width":367,"height":10}},{"id":"4cb548e5-0ced-4634-98be-03ebf2014767","block_type":"box","text":"8-","page_number":72,"box":{"x":670,"y":296,"width":13,"height":8}},{"id":"1c94f70d-52f4-45c5-93d2-ed00f41349df","block_type":"box","text":"Decent work and","page_number":72,"box":{"x":684,"y":296,"width":134,"height":8}},{"id":"c1e6c6e6-c7f7-4dd0-b063-81f03dc46ec8","block_type":"box","text":"economic growth","page_number":72,"box":{"x":670,"y":308,"width":124,"height":10}},{"id":"828185a6-9c29-4dea-8703-a8520e6a13e8","block_type":"box","text":"Operations","page_number":72,"box":{"x":63,"y":354,"width":81,"height":11}},{"id":"3a3f44dd-d0a1-4de1-a0d0-8b657634e730","block_type":"box","text":"Pillar","page_number":72,"box":{"x":64,"y":377,"width":37,"height":8}},{"id":"8b15d42d-c9b3-4253-a585-57894119978f","block_type":"box","text":"Investment themes","page_number":72,"box":{"x":111,"y":377,"width":137,"height":8}},{"id":"566d26b0-3fdf-45b7-bea5-8426bbc15539","block_type":"box","text":"Relevant UN SDGs","page_number":72,"box":{"x":296,"y":377,"width":134,"height":8}},{"id":"2467b144-0324-4caf-9914-6969b81a052e","block_type":"box","text":"Indicative Goals","page_number":72,"box":{"x":677,"y":377,"width":116,"height":8}},{"id":"9840efbf-fb67-40c3-a983-760043ba5bb0","block_type":"box","text":"Climat","page_number":72,"box":{"x":63,"y":434,"width":46,"height":8}},{"id":"a38ef5df-3081-4792-9f77-7f2de6af1b98","block_type":"box","text":"e","page_number":72,"box":{"x":63,"y":448,"width":8,"height":6}},{"id":"dea63dc8-56e6-4ac3-90e9-9429756a5a81","block_type":"box","text":"Response to Climate","page_number":72,"box":{"x":111,"y":391,"width":182,"height":10}},{"id":"58e34b0d-4a02-4000-bba9-3d784adc7e76","block_type":"box","text":"Change","page_number":72,"box":{"x":111,"y":403,"width":52,"height":10}},{"id":"36a5c7ee-bb79-46e6-881b-f78ecebaefe4","block_type":"box","text":"(Targets, Disclosures,","page_number":72,"box":{"x":111,"y":416,"width":182,"height":10}},{"id":"16ad3ff9-3a80-4b5e-8767-d74010495933","block_type":"box","text":"Strategies)","page_number":72,"box":{"x":111,"y":428,"width":72,"height":10}},{"id":"54734db6-86a4-4b6a-a50f-2bafd51037c0","block_type":"box","text":"Company operations significantly impact climate change","page_number":72,"box":{"x":296,"y":422,"width":378,"height":10}},{"id":"333a73d9-db4a-4a3e-9e26-b10f2e29c0cd","block_type":"box","text":"through their direct emissions and energy consumption","page_number":72,"box":{"x":295,"y":434,"width":379,"height":10}},{"id":"2b76477e-74e9-43ae-802f-8ef8e697cae6","block_type":"box","text":"as well as the emissions embedded throughout their","page_number":72,"box":{"x":296,"y":446,"width":379,"height":10}},{"id":"6aa4f001-e8c5-4c26-9a6e-b072e20781a8","block_type":"box","text":"supply chains.","page_number":72,"box":{"x":296,"y":459,"width":94,"height":10}},{"id":"52c6b5e3-a576-491a-91b4-7a6e495e22be","block_type":"box","text":"7 –","page_number":72,"box":{"x":676,"y":391,"width":24,"height":8}},{"id":"9e1de6de-edc1-4f71-be29-19734691fe16","block_type":"box","text":"Affordable and","page_number":72,"box":{"x":708,"y":391,"width":109,"height":8}},{"id":"23faed76-70dd-46ac-9e3d-c2ffe4dbced6","block_type":"box","text":"Clean Energy","page_number":72,"box":{"x":677,"y":403,"width":96,"height":10}},{"id":"cce3a3d7-0243-4edb-b851-40f2923fb0d9","block_type":"box","text":"9 –","page_number":72,"box":{"x":677,"y":416,"width":46,"height":8}},{"id":"30d7dca7-6f0f-4064-993e-fd127c6aa844","block_type":"box","text":"Industry,","page_number":72,"box":{"x":755,"y":416,"width":62,"height":10}},{"id":"ad89d45f-4317-481b-b5c7-807bacb2e7fd","block_type":"box","text":"Innovation and","page_number":72,"box":{"x":677,"y":428,"width":140,"height":8}},{"id":"88421f52-14d0-4988-90aa-4cd0d0487449","block_type":"box","text":"infrastructure","page_number":72,"box":{"x":677,"y":440,"width":97,"height":8}},{"id":"03d93fcd-1242-46a9-99a0-168aa21749c3","block_type":"box","text":"11 –","page_number":72,"box":{"x":677,"y":453,"width":40,"height":7}},{"id":"880ae4c6-a869-452e-9d5d-1b3c090ba3c0","block_type":"box","text":"Sustainable","page_number":72,"box":{"x":734,"y":452,"width":84,"height":8}},{"id":"c263e417-2cf6-497f-99c8-0dc445840bc3","block_type":"box","text":"Cities and","page_number":72,"box":{"x":677,"y":465,"width":140,"height":8}},{"id":"808430e1-72cc-47eb-9ac1-e331cd05983f","block_type":"box","text":"Communities","page_number":72,"box":{"x":677,"y":477,"width":94,"height":8}},{"id":"ae5e5215-e1c7-4b68-b7dd-4eb341bd7be8","block_type":"box","text":"13","page_number":72,"box":{"x":677,"y":489,"width":15,"height":8}},{"id":"3494f305-98b5-4dae-bf39-8511dddb8bc6","block_type":"box","text":"–","page_number":72,"box":{"x":697,"y":493,"width":8,"height":2}},{"id":"79e67330-86e0-436f-9999-e9089e0e022c","block_type":"box","text":"Climate Action","page_number":72,"box":{"x":709,"y":489,"width":104,"height":8}},{"id":"f94c4133-5545-4c75-bfe6-c28cc775108d","block_type":"box","text":"Earth","page_number":72,"box":{"x":64,"y":540,"width":36,"height":7}},{"id":"3ae0ecd8-4470-46dd-8ed4-e5b021e0470d","block_type":"box","text":"Nature (Biodiversity)","page_number":72,"box":{"x":111,"y":502,"width":135,"height":11}},{"id":"8abdc248-988f-413c-ae61-38e609467ed9","block_type":"box","text":"Companies can have significant impacts on natural","page_number":72,"box":{"x":296,"y":527,"width":378,"height":10}},{"id":"5e684b09-0c1e-4257-9cc7-e44d94e60735","block_type":"box","text":"capital through resource use and waste, product lifecycle,","page_number":72,"box":{"x":296,"y":539,"width":378,"height":11}},{"id":"390e8b9c-9040-414a-be07-87f2239a22e4","block_type":"box","text":"supply chain, land use, climate change, and through","page_number":72,"box":{"x":296,"y":552,"width":378,"height":10}},{"id":"06a1e895-10c2-4571-83b2-ff6935a343b1","block_type":"box","text":"disrupting ecosystems.","page_number":72,"box":{"x":296,"y":564,"width":152,"height":10}},{"id":"ee4b61ba-f3ea-4043-a05a-3adf3312cf80","block_type":"box","text":"6 –","page_number":72,"box":{"x":681,"y":503,"width":29,"height":7}},{"id":"48f85ff1-6266-4123-b9bd-1468ce47e41e","block_type":"box","text":"Clean Water","page_number":72,"box":{"x":723,"y":502,"width":95,"height":8}},{"id":"bca93e36-e4c4-4725-bcc8-3671caf80cd9","block_type":"box","text":"and Sanitation","page_number":72,"box":{"x":677,"y":515,"width":102,"height":8}},{"id":"d35d9e33-c9af-4387-aa20-3ceb87af7249","block_type":"box","text":"12 –","page_number":72,"box":{"x":677,"y":527,"width":38,"height":8}},{"id":"5fbe7916-95fe-4a89-9b33-64b50f5366b9","block_type":"box","text":"Responsible","page_number":72,"box":{"x":729,"y":527,"width":89,"height":10}},{"id":"56026ddf-93d1-49fe-8ca1-d3d7f3ec5b41","block_type":"box","text":"Consumption and","page_number":72,"box":{"x":677,"y":539,"width":140,"height":10}},{"id":"a4deea87-d42f-48d5-934a-6c5380ac7a2f","block_type":"box","text":"Production","page_number":72,"box":{"x":677,"y":552,"width":78,"height":8}},{"id":"ec992f14-ea36-45bb-8d39-22ba2b6600b6","block_type":"box","text":"14 –","page_number":72,"box":{"x":677,"y":564,"width":40,"height":8}},{"id":"c173894f-3c08-41eb-83b4-d907e39b0067","block_type":"box","text":"Life Below","page_number":72,"box":{"x":733,"y":564,"width":85,"height":8}},{"id":"5e926b0e-9b0f-4124-b08f-4cd83022b1f8","block_type":"box","text":"Water","page_number":72,"box":{"x":676,"y":576,"width":42,"height":8}},{"id":"3fbbdbdd-4135-49a4-b562-1144f1f5ba9f","block_type":"box","text":"15","page_number":72,"box":{"x":677,"y":589,"width":15,"height":8}},{"id":"0fe0f992-eea6-488e-8536-2736bf0cc728","block_type":"box","text":"–","page_number":72,"box":{"x":697,"y":593,"width":9,"height":1}},{"id":"a2f3991e-8663-4891-a928-29fab3176dac","block_type":"box","text":"Life on Land","page_number":72,"box":{"x":711,"y":589,"width":88,"height":8}},{"id":"dd4efd94-2a0f-4544-9fc6-43d343c530e6","block_type":"box","text":"Land and Ocean Use","page_number":72,"box":{"x":111,"y":521,"width":142,"height":8}},{"id":"6d933ca6-63a2-47d3-8735-29ef3206fb6e","block_type":"box","text":"Natural resources","page_number":72,"box":{"x":111,"y":543,"width":118,"height":7}},{"id":"f289dd61-82b6-485d-b197-cbbb3ef34157","block_type":"box","text":"Peopl","page_number":72,"box":{"x":64,"y":651,"width":39,"height":10}},{"id":"ae79cd08-f9fc-4e80-a397-234e152ad534","block_type":"box","text":"e","page_number":72,"box":{"x":63,"y":665,"width":8,"height":6}},{"id":"dff48ee7-b250-4a8c-b01a-51fe71661755","block_type":"box","text":"Corporate Responsibility","page_number":72,"box":{"x":111,"y":602,"width":183,"height":10}},{"id":"d3525d88-6aef-4411-a7c8-48c1b55e58aa","block_type":"box","text":"and Ethics","page_number":72,"box":{"x":111,"y":614,"width":69,"height":8}},{"id":"00a3c4e2-89d5-4370-9261-2fa498332b94","block_type":"box","text":"Company operations can have a wide range of impacts","page_number":72,"box":{"x":296,"y":645,"width":378,"height":10}},{"id":"37af8430-5131-4e3e-80f6-b1b68d6a709f","block_type":"box","text":"on people, including employees, customers, and the","page_number":72,"box":{"x":296,"y":657,"width":378,"height":10}},{"id":"c0baea48-143b-4e09-91a5-eff811580965","block_type":"box","text":"broader community.","page_number":72,"box":{"x":296,"y":670,"width":132,"height":9}},{"id":"1a3b679c-8de7-47c2-9b25-aec6dcd02039","block_type":"box","text":"5","page_number":72,"box":{"x":676,"y":602,"width":8,"height":8}},{"id":"3ee3a6c4-5e92-4caa-9d87-4338b29c6b92","block_type":"box","text":"–","page_number":72,"box":{"x":720,"y":606,"width":9,"height":1}},{"id":"25611ff6-f27a-4617-a8ba-267e9d133950","block_type":"box","text":"Gender","page_number":72,"box":{"x":765,"y":602,"width":53,"height":8}},{"id":"5c50cb6b-ed6a-4228-8f5b-07238770a1e8","block_type":"box","text":"Equality","page_number":72,"box":{"x":677,"y":614,"width":58,"height":10}},{"id":"5543d2df-2677-4c41-8826-9847be3da09b","block_type":"box","text":"8 –","page_number":72,"box":{"x":677,"y":627,"width":28,"height":7}},{"id":"3eeff79b-38e7-4d5c-a461-5b9c55ba7c26","block_type":"box","text":"Decent Work","page_number":72,"box":{"x":719,"y":626,"width":99,"height":8}},{"id":"838ac368-6400-4459-b0fa-9e9c00c75937","block_type":"box","text":"and Economic","page_number":72,"box":{"x":677,"y":639,"width":140,"height":8}},{"id":"ff261aa4-003f-4cff-8273-3af6445d5e24","block_type":"box","text":"Growth","page_number":72,"box":{"x":677,"y":651,"width":51,"height":8}},{"id":"7d2ee2f4-5042-45da-8df9-9cc96d7c24de","block_type":"box","text":"10 –","page_number":72,"box":{"x":677,"y":663,"width":51,"height":8}},{"id":"f031d409-df01-459d-843c-5ff2969f9852","block_type":"box","text":"Reduced","page_number":72,"box":{"x":755,"y":663,"width":62,"height":8}},{"id":"01512e38-1518-4ec4-9b00-ff1683f3a9ff","block_type":"box","text":"Inequalities","page_number":72,"box":{"x":677,"y":676,"width":82,"height":10}},{"id":"8174790b-bb6c-4382-8b51-b6354f5a6d3b","block_type":"box","text":"16-","page_number":72,"box":{"x":677,"y":688,"width":21,"height":8}},{"id":"865ab712-8ca3-4ddf-a571-f416616a6aa5","block_type":"box","text":"Peace, Justice","page_number":72,"box":{"x":709,"y":688,"width":109,"height":9}},{"id":"f6760899-c9d8-4cf2-9451-938b066945c5","block_type":"box","text":"and Strong","page_number":72,"box":{"x":677,"y":700,"width":140,"height":10}},{"id":"5ec28a5b-cd2b-4c09-8728-8b51906b7186","block_type":"box","text":"Institutions","page_number":72,"box":{"x":677,"y":712,"width":80,"height":8}},{"id":"3946e36f-2937-4f1b-9409-25130535b84c","block_type":"box","text":"The Investment Manager keeps the investment framework under review and may from time to time update the","page_number":72,"box":{"x":62,"y":739,"width":843,"height":12}},{"id":"3824147f-f298-4873-9be0-9ce65d2752c8","block_type":"box","text":"investment themes, or introduce new investment themes, as the market evolves and/or sustainability expectations","page_number":72,"box":{"x":62,"y":753,"width":843,"height":11}},{"id":"29cd285c-769c-487b-892a-4c4f09c97edf","block_type":"box","text":"develop.","page_number":72,"box":{"x":62,"y":767,"width":61,"height":11}},{"id":"c03cd195-9973-4310-b8fa-2028b29841ce","block_type":"box","text":"To assess a potential investment’s eligibility under the investment framework, the Investment Manager uses both","page_number":72,"box":{"x":62,"y":788,"width":843,"height":11}},{"id":"626537a8-921e-4305-af1b-37ea4fd737ae","block_type":"box","text":"quantitative and qualitative elements, including a broad range of third-party market data tools, internal research,","page_number":72,"box":{"x":62,"y":801,"width":842,"height":11}},{"id":"6a283808-7fee-4173-af6a-35a0a4ead58f","block_type":"box","text":"external broker and NGO research, benchmarks, and company disclosures and reports to provide accurate data","page_number":72,"box":{"x":62,"y":815,"width":843,"height":11}},{"id":"b939cd7f-30b8-41b8-823c-0cc875a450af","block_type":"box","text":"and insights into each company. Operational, product and service considerations, alignment to the investment","page_number":72,"box":{"x":62,"y":828,"width":843,"height":12}},{"id":"483e62c6-4172-4119-ab5e-c74ad1c0be99","block_type":"box","text":"themes and KPIs will be subject to change overtime, informed by the Investment Manager’s view on the quality and","page_number":72,"box":{"x":62,"y":842,"width":843,"height":11}},{"id":"8d37bb85-518d-47fe-ad23-6e17f288d097","block_type":"box","text":"coverage of available data points, and to respond to evolving developments in the market and best practice.","page_number":72,"box":{"x":62,"y":856,"width":798,"height":11}},{"id":"140bce23-e1f8-4add-9c8e-3c5041ad4aeb","block_type":"box","text":"Investors should note that, due to the diversity and range of sectors within the Fund’s potential investment universe,","page_number":72,"box":{"x":63,"y":883,"width":841,"height":11}},{"id":"0ad7f774-b57d-4d30-a4fb-398134ab5d17","block_type":"box","text":"it is unlikely that each investment will positively align to all of the three pillars or to all of the SDGs.","page_number":72,"box":{"x":62,"y":897,"width":724,"height":11}},{"id":"e2150224-0ac1-437c-8973-bbda0b60b54a","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":73,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"193d4849-5851-4b80-85cf-7373a0e0eb02","block_type":"box","text":"73","page_number":73,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"04fd0c13-e9ab-4c54-84eb-aec8f79272cd","block_type":"box","text":"Aviva Investors: Confidential","page_number":73,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"f83bad08-e2dc-4a96-91ef-014a84711849","block_type":"box","text":"Products and Services companies","page_number":73,"box":{"x":63,"y":52,"width":271,"height":12}},{"id":"23d176f9-7933-4802-97c1-963905725ae4","block_type":"box","text":"Eligibility due to products and services provided by companies is determined by assessing the revenue aligned to","page_number":73,"box":{"x":63,"y":80,"width":860,"height":11}},{"id":"3efa10c7-6d97-4d83-ba97-9b1fa041eeae","block_type":"box","text":"investment themes as described in the table above. This can be products or services in themselves or specific key","page_number":73,"box":{"x":62,"y":94,"width":861,"height":11}},{"id":"74bddbce-cc29-4f00-98f5-48aeb0bb773a","block_type":"box","text":"components that enable the delivery of products or services that lead to sustainable outcomes.","page_number":73,"box":{"x":62,"y":107,"width":701,"height":11}},{"id":"9d13cfdc-3ba5-4c59-b5de-a1edc70b7acb","block_type":"box","text":"To qualify for investment through its products and services, that company must meet either the necessary “revenue”","page_number":73,"box":{"x":62,"y":134,"width":861,"height":12}},{"id":"d92f099e-a1f4-4dee-9921-1733668e5f10","block_type":"box","text":"or “pre-revenue” criteria (as outlined below). Companies meeting this initial revenue criteria are then subject to","page_number":73,"box":{"x":62,"y":148,"width":861,"height":11}},{"id":"2a6f0cf5-2a3b-4efd-b72d-c00b2aa24943","block_type":"box","text":"additional assessment using the Investment Manager’s proprietary analysis which further examines revenue sources","page_number":73,"box":{"x":62,"y":162,"width":861,"height":11}},{"id":"40ed4446-a531-43e7-b88f-846d8e2ba35d","block_type":"box","text":"by business segment. Only companies satisfying both the revenue criteria and the additional assessment will be","page_number":73,"box":{"x":62,"y":175,"width":861,"height":12}},{"id":"8154f13f-2eae-42de-beba-334824c88e7d","block_type":"box","text":"regarded as eligible for investment by the Sub-Fund.","page_number":73,"box":{"x":63,"y":189,"width":387,"height":11}},{"id":"414c2ab1-d9a9-46ef-96cc-e5c038a09ace","block_type":"box","text":"To meet the “revenue” criteria, the issuing company must derive at least 20% of its revenues from products or services","page_number":73,"box":{"x":62,"y":216,"width":861,"height":12}},{"id":"c232c2e5-3d9d-4aa2-9726-c232f93da974","block_type":"box","text":"linked to one of the pillars (see above). In most circumstances, a company that meets this 20% threshold: (i) must","page_number":73,"box":{"x":62,"y":230,"width":861,"height":11}},{"id":"3b976648-7225-4a05-9915-714ab1459c5d","block_type":"box","text":"also have no revenue from products or services assessed as misaligned to the three pillars; and (ii) there must be no","page_number":73,"box":{"x":62,"y":244,"width":861,"height":11}},{"id":"ebe65280-0d18-4e36-ace3-7f74386353af","block_type":"box","text":"evidence available to the Investment Manager that suggests the company is subject to a material controversy on","page_number":73,"box":{"x":62,"y":258,"width":860,"height":11}},{"id":"f520324e-3b18-4877-b1a4-1b816eb66f07","block_type":"box","text":"environmental, human rights or labour-related issues. However, in the event that such misalignment or controversies","page_number":73,"box":{"x":62,"y":271,"width":861,"height":11}},{"id":"55ee405d-5754-43c1-ae69-4a30c425d1bc","block_type":"box","text":"are identified, that issuing company may still be eligible for investment if the Investment Manager identifies - through","page_number":73,"box":{"x":62,"y":285,"width":860,"height":11}},{"id":"34a76a8e-2de9-4b9c-ae18-52667fd4e097","block_type":"box","text":"its deep dive assessment - credible evidence that such misalignment / controversies are not material and/or are being","page_number":73,"box":{"x":62,"y":298,"width":860,"height":12}},{"id":"13d090b1-fdb0-44d5-be6b-ce49a830567c","block_type":"box","text":"resolved or mitigated.","page_number":73,"box":{"x":63,"y":312,"width":157,"height":11}},{"id":"768b4d44-012f-47a4-8cc7-80d67f596b6c","block_type":"box","text":"To meet the “pre-revenue” criteria, the Investment Manager must identify – through its deep dive assessment –","page_number":73,"box":{"x":62,"y":339,"width":861,"height":12}},{"id":"ccf99cb2-f9b7-41c8-9631-227ceb2a4de7","block_type":"box","text":"credible evidence that the company is in the early stages of providing a product / service linked to one of the three","page_number":73,"box":{"x":62,"y":353,"width":861,"height":11}},{"id":"d46d3af8-f857-4bd3-9f96-28a917165522","block_type":"box","text":"pillars and is projected to derive at least 20% of its revenue from that product/service in the future. The Investment","page_number":73,"box":{"x":62,"y":366,"width":861,"height":12}},{"id":"7369be15-af4c-402e-a779-97fc05918fc9","block_type":"box","text":"Manager will therefore require evidence (such as a formal commitment made in public or through direct engagement","page_number":73,"box":{"x":63,"y":380,"width":860,"height":11}},{"id":"d39bc583-b5d2-4aee-b237-5d13dcaf89f1","block_type":"box","text":"with the company) that the company is investing in, researching and developing sustainable products/services, and","page_number":73,"box":{"x":62,"y":394,"width":860,"height":11}},{"id":"dc43f572-cc38-4fa2-aef8-5e341a45790a","block_type":"box","text":"that such products/services are likely to be a material (i.e. at least 20%) revenue stream for the company over time.","page_number":73,"box":{"x":62,"y":408,"width":860,"height":11}},{"id":"406289cf-17e9-4779-b7b2-e1b178c41652","block_type":"box","text":"In the case of issuers that are in the early stages of development or investment where there is no revenue data","page_number":73,"box":{"x":63,"y":421,"width":860,"height":11}},{"id":"fbae150c-dab2-4727-a8be-2b3ada7c088d","block_type":"box","text":"available yet, the Investment Manager may employ bespoke financial models to estimate the revenue potential of the","page_number":73,"box":{"x":62,"y":435,"width":861,"height":11}},{"id":"461681c4-9d84-4847-ae40-6cba88abad54","block_type":"box","text":"business segment that can capture the unique nature of such investments.","page_number":73,"box":{"x":62,"y":449,"width":552,"height":11}},{"id":"e6a83b49-7e03-47cc-bcf7-d17b320f607e","block_type":"box","text":"Operations companies","page_number":73,"box":{"x":62,"y":476,"width":180,"height":11}},{"id":"e6a0dafa-58c8-4aa3-8832-706401a27fe1","block_type":"box","text":"To qualify for investment as an “operations” company, that company will need to demonstrate that it is aligned or is","page_number":73,"box":{"x":62,"y":503,"width":861,"height":11}},{"id":"6abd3e59-40a8-4e5c-85bf-ea402a8e29cc","block_type":"box","text":"actively aligning its business models and operations to one or more of the investment themes linked to the three pillars","page_number":73,"box":{"x":62,"y":517,"width":861,"height":11}},{"id":"41316017-7323-41d7-974b-0de6afec32d5","block_type":"box","text":"(see the table above). The Investment Manager will assess the company’s policies, practices and performance","page_number":73,"box":{"x":63,"y":530,"width":860,"height":12}},{"id":"390ac291-a570-46c6-9f40-be3c33223443","block_type":"box","text":"against these investment themes, for example:","page_number":73,"box":{"x":62,"y":544,"width":345,"height":11}},{"id":"100064a1-174d-499b-9244-b9faa1967062","block_type":"box","text":"-","page_number":73,"box":{"x":68,"y":577,"width":4,"height":1}},{"id":"90442b62-93f6-45d4-84f9-052382ff51ef","block_type":"box","text":"Policies","page_number":73,"box":{"x":130,"y":572,"width":62,"height":8}},{"id":"fc1e06fb-1bc2-4c5f-aa57-8be9671fd9f3","block_type":"box","text":":","page_number":73,"box":{"x":193,"y":574,"width":3,"height":6}},{"id":"927fc2cb-ca4d-46b9-a94f-b3ea50bb99d4","block_type":"box","text":"Publicly disclosed statements and commitments that detail the company’s approach, governance","page_number":73,"box":{"x":204,"y":572,"width":719,"height":11}},{"id":"9e8ed731-c0a3-443a-b416-40d6515be227","block_type":"box","text":"and risk assessment frameworks for social and environmental issues. This can include the company’s","page_number":73,"box":{"x":129,"y":585,"width":794,"height":11}},{"id":"00ef9d44-88ef-413b-87d4-25de1f244382","block_type":"box","text":"published policies for specific themes (e.g. biodiversity protection policy, for example), or broader company","page_number":73,"box":{"x":129,"y":599,"width":794,"height":11}},{"id":"8554f25f-cd0a-4bcb-8ccc-36c60ae40296","block_type":"box","text":"disclosures through widely accepted governance reporting frameworks (for example, the environmental","page_number":73,"box":{"x":129,"y":613,"width":794,"height":11}},{"id":"8a05d167-77be-49a8-9f99-3891d3f2d4d9","block_type":"box","text":"disclosure and scoring system operated by organisations such as CDP Worldwide).","page_number":73,"box":{"x":129,"y":626,"width":617,"height":11}},{"id":"189d5802-ad26-4f7b-9020-edf8b81c686b","block_type":"box","text":"-","page_number":73,"box":{"x":68,"y":645,"width":4,"height":1}},{"id":"0ac4a12a-8a94-4eb5-9046-59bbd3cc6e2a","block_type":"box","text":"Practices","page_number":73,"box":{"x":130,"y":640,"width":73,"height":9}},{"id":"5cd381c7-d725-4a0d-8015-08f4c14fe3ed","block_type":"box","text":":","page_number":73,"box":{"x":204,"y":643,"width":3,"height":6}},{"id":"c0ae085b-f1e8-4265-a3c4-01c9f44ccb0c","block_type":"box","text":"Commitments to specific company actions within its operations to manage and mitigate social","page_number":73,"box":{"x":215,"y":640,"width":707,"height":11}},{"id":"29354c49-a70f-4b43-9116-f90df8a5c104","block_type":"box","text":"and environmental issues. This can include specific programmes (e.g., programs to facilitate workforce","page_number":73,"box":{"x":129,"y":654,"width":794,"height":11}},{"id":"b8bfe178-e03b-4ba4-b258-63736294e0a1","block_type":"box","text":"diversity), participating in best practice external initiatives (e.g., UN Global Compact signatory) and setting","page_number":73,"box":{"x":129,"y":667,"width":793,"height":12}},{"id":"16fe0e07-bd39-4843-af88-b5e5b50c1025","block_type":"box","text":"or committing to setting quantitative targets (e.g., Science Based Target initiative (SBTi) verification or","page_number":73,"box":{"x":129,"y":681,"width":795,"height":11}},{"id":"12627e5b-4775-453e-b1f3-d0507cb8a472","block_type":"box","text":"equivalent emission reduction target) within its business models, strategy and operations.","page_number":73,"box":{"x":129,"y":695,"width":661,"height":11}},{"id":"d6dbd4d6-e3b7-403e-9da9-4c253007897e","block_type":"box","text":"-","page_number":73,"box":{"x":68,"y":714,"width":4,"height":1}},{"id":"ef16a006-d3c6-4959-a01d-65d64fa72732","block_type":"box","text":"Performance","page_number":73,"box":{"x":130,"y":709,"width":102,"height":8}},{"id":"15fae8ff-1888-43af-831e-c342917b087b","block_type":"box","text":":","page_number":73,"box":{"x":232,"y":711,"width":3,"height":6}},{"id":"405727e2-e430-4555-8b1e-a5a38540a06b","block_type":"box","text":"Realised performance on specific social and environmental issues or progress towards","page_number":73,"box":{"x":246,"y":709,"width":677,"height":11}},{"id":"c999f3bc-e0d6-4d48-b923-1f4947315137","block_type":"box","text":"internal targets (e.g., percentage of women directors, for example).","page_number":73,"box":{"x":129,"y":722,"width":494,"height":11}},{"id":"ea6793b8-01ff-4dd2-9833-dcee36a7fa93","block_type":"box","text":"The table below describes the guiding principles used to determine eligibility.","page_number":73,"box":{"x":62,"y":750,"width":568,"height":11}},{"id":"30d3c49b-521e-4106-af5f-6f0ea70a112e","block_type":"box","text":"An operations company must pass the Baseline and Controversies criteria.","page_number":73,"box":{"x":71,"y":766,"width":539,"height":10}},{"id":"62349cb0-6aa7-45d0-8578-8529958ea80e","block_type":"box","text":"Baseline","page_number":73,"box":{"x":72,"y":830,"width":56,"height":8}},{"id":"a859e5cd-76ee-47b1-bc44-30dc0ef25b5e","block_type":"box","text":"The company maintains a baseline of high social standards and supports the","page_number":73,"box":{"x":202,"y":793,"width":545,"height":10}},{"id":"5383f8fa-6f45-4f8c-adb4-0df861d0e14b","block_type":"box","text":"transition to a carbon neutral future. Specifically, the company must:","page_number":73,"box":{"x":202,"y":805,"width":453,"height":11}},{"id":"baa8f720-6b3e-488d-b6c6-fc319f8ebf01","block_type":"box","text":"","page_number":73,"box":{"x":233,"y":832,"width":4,"height":3}},{"id":"152208ee-25d7-4cd0-8e61-d02b5abe5dfc","block_type":"box","text":"Have targets for carbon reduction","page_number":73,"box":{"x":263,"y":830,"width":222,"height":10}},{"id":"e87fd909-8c58-4944-a0c8-6ee18a8900f5","block_type":"box","text":"","page_number":73,"box":{"x":233,"y":845,"width":4,"height":3}},{"id":"4c289e61-17e9-4142-9cec-6e8fc7ee8599","block_type":"box","text":"Have a human rights policy","page_number":73,"box":{"x":263,"y":842,"width":181,"height":10}},{"id":"105a199b-2504-4118-af77-0a792601dcc3","block_type":"box","text":"","page_number":73,"box":{"x":233,"y":857,"width":4,"height":3}},{"id":"ad97ad89-9d28-4a6c-ae0b-0d6f03b41848","block_type":"box","text":"Comply with the International Labour Organisation’s (ILO) standards","page_number":73,"box":{"x":262,"y":855,"width":456,"height":10}},{"id":"cbab8c38-b51e-4803-85cc-876a25fb43aa","block_type":"box","text":"","page_number":73,"box":{"x":233,"y":869,"width":4,"height":3}},{"id":"2d3068b0-59ae-4a0b-aaf8-2de2ad6932d7","block_type":"box","text":"Have programs to facilitate workforce diversity","page_number":73,"box":{"x":263,"y":867,"width":308,"height":10}},{"id":"2127b209-c010-43c4-8ed3-89c835a71553","block_type":"box","text":"Controversies","page_number":73,"box":{"x":71,"y":909,"width":92,"height":9}},{"id":"068cf527-90d9-4a64-b118-8083d823d4d1","block_type":"box","text":"The company demonstrates effective mitigation and remediation of potentially","page_number":73,"box":{"x":202,"y":910,"width":546,"height":10}},{"id":"f06ba95b-297f-4fe4-86eb-b1c842ce299d","block_type":"box","text":"harmful activities.","page_number":73,"box":{"x":202,"y":922,"width":115,"height":8}},{"id":"4a61e2ae-77d0-4b4d-8950-fedd08e81bbf","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":74,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"26c4378d-cad4-400e-9069-c7ab8e5e3300","block_type":"box","text":"74","page_number":74,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"5ce73948-730b-47a4-b4d6-e1ef6b87ba57","block_type":"box","text":"Aviva Investors: Confidential","page_number":74,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"c86fd8aa-c2c1-4eae-acb8-efb6d324a577","block_type":"box","text":"OR","page_number":74,"box":{"x":202,"y":65,"width":21,"height":8}},{"id":"2e3bdf7d-f123-4a2c-bdb2-31adfcedfa79","block_type":"box","text":"The company demonstrates robust policies and procedures that prevent the","page_number":74,"box":{"x":202,"y":90,"width":545,"height":10}},{"id":"5aaa55cb-ab2f-4632-a2a4-11ca565b535c","block_type":"box","text":"occurrence of harmful controversies.","page_number":74,"box":{"x":202,"y":102,"width":243,"height":8}},{"id":"7f1dbec1-dbfa-42fa-9ee7-579a65fe673c","block_type":"box","text":"An operations company must also pass the criteria for either Climate, Earth or People.","page_number":74,"box":{"x":71,"y":129,"width":619,"height":10}},{"id":"f7d240fc-f121-4f15-a102-79b735d6a784","block_type":"box","text":"Climate","page_number":74,"box":{"x":71,"y":200,"width":50,"height":8}},{"id":"f0f3919a-fba6-4c2a-a4b0-127fd0b53b98","block_type":"box","text":"The company has robust targets to align its emissions to a low carbon future and","page_number":74,"box":{"x":202,"y":157,"width":545,"height":10}},{"id":"088a66c6-dc40-41d8-a960-738e8371a5f0","block_type":"box","text":"is demonstrating its commitment through its strategy, reporting, and staying on","page_number":74,"box":{"x":202,"y":169,"width":545,"height":10}},{"id":"b0ac32b6-cc29-4ae7-b47b-ac7b820b46dc","block_type":"box","text":"track with its targets.","page_number":74,"box":{"x":202,"y":182,"width":136,"height":10}},{"id":"992d9849-29c9-44d6-87c5-1410f52b34c9","block_type":"box","text":"OR","page_number":74,"box":{"x":202,"y":206,"width":21,"height":8}},{"id":"2942ea15-c741-4cea-9a36-6957d077e26e","block_type":"box","text":"The company has a net zero carbon footprint and maintains robust standards for","page_number":74,"box":{"x":202,"y":231,"width":546,"height":10}},{"id":"e2032df6-289d-46b3-8550-700988bc914c","block_type":"box","text":"carbon emissions management at the operational and supply chain levels.","page_number":74,"box":{"x":202,"y":243,"width":494,"height":10}},{"id":"91843bb7-f5e7-4258-8d60-48f6b766b357","block_type":"box","text":"Earth","page_number":74,"box":{"x":72,"y":323,"width":34,"height":8}},{"id":"eee3e20d-1460-4eb3-b595-129e8247307a","block_type":"box","text":"The company has policies and procedures in place to effectively monitor and","page_number":74,"box":{"x":202,"y":280,"width":545,"height":10}},{"id":"317336e5-a605-4af5-a2d8-bf214ef9cd68","block_type":"box","text":"mitigate its impacts on the environment and is taking steps to align its","page_number":74,"box":{"x":202,"y":293,"width":545,"height":10}},{"id":"b5312f66-fd04-4ba2-9422-3aa8d8aa45ae","block_type":"box","text":"environmental footprint to a nature positive future.","page_number":74,"box":{"x":202,"y":305,"width":331,"height":10}},{"id":"fb87903c-57df-4496-8a8f-56f4e35ac614","block_type":"box","text":"OR","page_number":74,"box":{"x":202,"y":330,"width":21,"height":7}},{"id":"6c8204a4-af44-45ab-b213-2e76b60445df","block_type":"box","text":"The company does not have an adverse impact on the environment and maintains","page_number":74,"box":{"x":202,"y":354,"width":545,"height":10}},{"id":"5c1c6b33-2271-4579-92ca-d6d229c7857a","block_type":"box","text":"the robust standards for managing its environmental footprint.","page_number":74,"box":{"x":202,"y":366,"width":410,"height":11}},{"id":"44891f05-fbed-4384-b415-52aa3abc123a","block_type":"box","text":"People","page_number":74,"box":{"x":72,"y":447,"width":45,"height":10}},{"id":"7be08400-9816-4fed-88a1-35d1698a8962","block_type":"box","text":"The company demonstrates a commitment to achieving high standards of","page_number":74,"box":{"x":202,"y":404,"width":546,"height":10}},{"id":"fddab581-8723-4524-a645-9163f8fed98a","block_type":"box","text":"corporate responsibility, human capital management, and workforce diversity and","page_number":74,"box":{"x":202,"y":416,"width":545,"height":10}},{"id":"7bf40580-2472-442d-8917-f905533e9430","block_type":"box","text":"is taking steps to improve processes and deliver effective remediation of issues.","page_number":74,"box":{"x":202,"y":428,"width":532,"height":11}},{"id":"90c4f915-70c8-4354-b7c9-7055a94e4bd3","block_type":"box","text":"OR","page_number":74,"box":{"x":202,"y":453,"width":21,"height":8}},{"id":"a3590f62-9c09-4e88-9f3c-a04d14700038","block_type":"box","text":"The company demonstrates robust standards of corporate responsibility, human","page_number":74,"box":{"x":202,"y":478,"width":545,"height":10}},{"id":"755715f2-3fc0-4cc2-8f9b-ba8d2e35b68f","block_type":"box","text":"capital management, and workforce diversity.","page_number":74,"box":{"x":202,"y":490,"width":302,"height":10}},{"id":"8dc4ea27-3c3f-4ea4-9155-46bc0e310a48","block_type":"box","text":"To meet the operations criteria, there must be no evidence available to the Investment Manager that suggests the","page_number":74,"box":{"x":62,"y":529,"width":861,"height":11}},{"id":"b33e0a1b-d1be-48c1-8e2a-80f67869c1c8","block_type":"box","text":"company is subject to a material controversy on environmental, human rights or labour-related issues. However, in","page_number":74,"box":{"x":62,"y":543,"width":860,"height":11}},{"id":"7497da69-a91d-4969-b21f-6d145ac2bdb9","block_type":"box","text":"the event that such controversies are identified, that issuing company may still be eligible for investment if the","page_number":74,"box":{"x":62,"y":556,"width":861,"height":12}},{"id":"467dac2c-bf34-4d12-8e60-ea00a204d1cf","block_type":"box","text":"Investment Manager identifies - through its deep dive assessment - credible evidence that such controversies are not","page_number":74,"box":{"x":63,"y":570,"width":860,"height":11}},{"id":"f4a00ba3-c731-4eb2-8503-bd0dc17daa39","block_type":"box","text":"material and/or are being resolved or mitigated.","page_number":74,"box":{"x":62,"y":584,"width":350,"height":11}},{"id":"295512d4-680d-4e4b-8d51-47f298fcbd26","block_type":"box","text":"Monitoring","page_number":74,"box":{"x":63,"y":618,"width":84,"height":11}},{"id":"f642f00d-c450-4533-9965-10a29ca480d4","block_type":"box","text":"Once an investment is made, it is monitored by the Investment Manager to ensure that it continues to meet the","page_number":74,"box":{"x":62,"y":646,"width":843,"height":11}},{"id":"fd99a4cb-c67d-4a8b-91e9-38c877a3fd9f","block_type":"box","text":"requirements of the investment framework. If the available data indicates that this is no longer the case, the","page_number":74,"box":{"x":63,"y":659,"width":842,"height":12}},{"id":"ba0a03a1-7ad2-42c2-8ee5-27ed5b91c139","block_type":"box","text":"Investment Manager will conduct a qualitative review of the relevant company. If the Investment Manager","page_number":74,"box":{"x":63,"y":673,"width":843,"height":11}},{"id":"ac009015-6bc4-43f8-830d-236c996e1bab","block_type":"box","text":"subsequently determines that the company no longer meets the requirements of the investment framework, it will","page_number":74,"box":{"x":62,"y":687,"width":843,"height":11}},{"id":"f355eb08-d5d9-40b8-92fd-a64dc074d4a2","block_type":"box","text":"be disposed of as soon as reasonably practicable having regard to the interests of investors in the Sub-Fund.","page_number":74,"box":{"x":62,"y":700,"width":807,"height":12}},{"id":"0ae8b6e6-2504-4588-a248-a948d3f63136","block_type":"box","text":"Engagement","page_number":74,"box":{"x":63,"y":734,"width":99,"height":11}},{"id":"5d7ab9d1-7606-41a4-9e26-9b51feba63ac","block_type":"box","text":"The Investment Manager engages with investee companies on thematic issues with the aim of positively influencing","page_number":74,"box":{"x":62,"y":767,"width":860,"height":11}},{"id":"8974404c-e9a0-4fc5-9df2-239bc3193e5b","block_type":"box","text":"sustainable behaviours. Thematic engagement programmes will target a subset of companies within the Sub- Fund,","page_number":74,"box":{"x":62,"y":780,"width":860,"height":12}},{"id":"ea69ed97-3944-46c3-9cae-d60e56ccde51","block_type":"box","text":"with specific engagement asks for companies to pursue progress on key themes and areas captured by the","page_number":74,"box":{"x":62,"y":794,"width":861,"height":11}},{"id":"7cd56196-51f4-41ec-9204-a581448f5694","block_type":"box","text":"investment framework. Engagement may also be conducted if, in the Investment Manager’s view, new data emerges","page_number":74,"box":{"x":62,"y":808,"width":861,"height":11}},{"id":"8b5d3c02-8598-4a88-ba18-aac10968a297","block_type":"box","text":"that suggests an investee company’s practices may be falling short of expectations and/or potentially no longer meet","page_number":74,"box":{"x":62,"y":821,"width":861,"height":12}},{"id":"c844dfa7-be5e-4fe6-b3e1-f03a1d13d24a","block_type":"box","text":"the requirements of the investment framework.","page_number":74,"box":{"x":62,"y":835,"width":344,"height":11}},{"id":"07c1e22b-3a86-40f5-b2c9-a4fc6dc668ca","block_type":"box","text":"Measurement and KPIs","page_number":74,"box":{"x":63,"y":894,"width":182,"height":9}},{"id":"3f78704d-024d-4b13-94b1-331193ea2fea","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":75,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"bd56d92c-25f1-4399-8ba5-1d3fb64d624e","block_type":"box","text":"75","page_number":75,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"673a8f7a-767c-41b2-a008-39e772a24263","block_type":"box","text":"Aviva Investors: Confidential","page_number":75,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"2cb20826-787c-4b66-956e-b934f859d910","block_type":"box","text":"On an ongoing basis, the Investment Manager will monitor the Sub-Fund’s holdings against a range of key","page_number":75,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"3c872098-7401-45db-a757-56b2ab38873c","block_type":"box","text":"performance indicators to ensure that they remain compliant with the investment framework. To allow assessment of","page_number":75,"box":{"x":62,"y":66,"width":861,"height":11}},{"id":"e8c20eb9-6c8c-4918-8404-1c34258f072d","block_type":"box","text":"the Sub-Fund’s minimum stewardship allocation, performance against a range of key indicators will be reported to","page_number":75,"box":{"x":62,"y":80,"width":861,"height":11}},{"id":"24696cd9-6366-4877-97ba-e11723c38656","block_type":"box","text":"investors annually, describing the relevant methodologies used and highlighting any material data considerations.","page_number":75,"box":{"x":62,"y":94,"width":860,"height":11}},{"id":"21c2b4f3-2598-45ac-8d08-3fc98d46a9ba","block_type":"box","text":"This annual report will include:","page_number":75,"box":{"x":62,"y":107,"width":224,"height":11}},{"id":"033c16c2-dc7c-473c-8759-df9569c8c87a","block_type":"box","text":"Fund*","page_number":75,"box":{"x":397,"y":135,"width":42,"height":8}},{"id":"9e7b1dac-5848-4da3-baa8-9caaae855514","block_type":"box","text":"Data provided for Volatility","page_number":75,"box":{"x":560,"y":135,"width":191,"height":10}},{"id":"8b72f86d-b6eb-45e4-9455-a622659c2df1","block_type":"box","text":"Index (comparator)?","page_number":75,"box":{"x":583,"y":147,"width":144,"height":10}},{"id":"8334a39c-31b8-45f1-98fb-9a1ab827817a","block_type":"box","text":"Products and Services","page_number":75,"box":{"x":72,"y":160,"width":150,"height":8}},{"id":"c037fbf3-c987-48f8-be95-128c22c54751","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":160,"width":12,"height":8}},{"id":"88ea231b-46e9-4dc9-9b49-866f93d0dc77","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":160,"width":26,"height":8}},{"id":"a7d5aeed-02a8-467e-a8f4-a5d0e29ef9f1","block_type":"box","text":"Operations","page_number":75,"box":{"x":71,"y":173,"width":73,"height":10}},{"id":"2745788b-fc3b-4971-8f92-8c722f30f516","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":173,"width":12,"height":8}},{"id":"56f83f30-5df8-4dd1-9c34-e5dc7d13e1e8","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":173,"width":26,"height":8}},{"id":"ecb237b5-16d2-4828-94d0-a8cce5361d7c","block_type":"box","text":"Climate:","page_number":75,"box":{"x":72,"y":186,"width":57,"height":8}},{"id":"83b010a9-d480-4ce3-9c55-9cc945b6c170","block_type":"box","text":"SBTi approved emission targets","page_number":75,"box":{"x":72,"y":199,"width":213,"height":10}},{"id":"01134ff3-7554-4a43-a3c0-202a31fb70e7","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":199,"width":12,"height":8}},{"id":"d1953b20-1381-4587-983c-a5abcb25faeb","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":199,"width":26,"height":8}},{"id":"028e5272-0931-4231-bddc-7d80f8d5628d","block_type":"box","text":"SBTi committed emission targets","page_number":75,"box":{"x":72,"y":211,"width":218,"height":11}},{"id":"6975fa6c-6e2f-4a05-8157-fa02ec40ec72","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":212,"width":12,"height":7}},{"id":"2c800d89-e327-44ff-bddd-1c4e2e163272","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":212,"width":26,"height":7}},{"id":"c0e25eb7-79a6-4489-925e-3659e6acd03b","block_type":"box","text":"CDP Score A-C","page_number":75,"box":{"x":72,"y":224,"width":104,"height":8}},{"id":"65625dcb-fcde-4e7c-98b3-db1f9e163fbc","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":225,"width":12,"height":7}},{"id":"83112ccd-4947-441e-a8ec-ef315a594aab","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":224,"width":26,"height":8}},{"id":"06807df3-a96c-45e3-a6bf-8d608166eb14","block_type":"box","text":"CDP Score D-F","page_number":75,"box":{"x":72,"y":237,"width":104,"height":8}},{"id":"04e86f66-6c62-43d6-bb23-aa1e9f4a5f11","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":238,"width":12,"height":7}},{"id":"7756c1ed-7a22-450e-88f6-e9fc8cade0f5","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":237,"width":26,"height":8}},{"id":"4b90fc1f-c333-49d0-ac22-a9cd81588977","block_type":"box","text":"No CDP Score","page_number":75,"box":{"x":72,"y":250,"width":98,"height":8}},{"id":"b88521f4-f72b-4b5a-b532-0084147e1f77","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":250,"width":12,"height":8}},{"id":"4c518be9-daaf-430a-9d81-bfb3f2c20ec9","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":250,"width":26,"height":8}},{"id":"8bd4d31f-b495-4903-bb5d-c3c1a78a3abb","block_type":"box","text":"Earth:","page_number":75,"box":{"x":72,"y":263,"width":41,"height":8}},{"id":"4542d4e2-9268-4aaf-8211-0097b1f0f88f","block_type":"box","text":"Biodiversity policy","page_number":75,"box":{"x":72,"y":276,"width":119,"height":10}},{"id":"3f7a5fdb-13e7-4b9d-b5a6-e793ce77209e","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":276,"width":12,"height":8}},{"id":"1f5689a2-b9d8-412c-9090-c13b0b14134c","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":276,"width":26,"height":8}},{"id":"9bf29e32-ff3f-49cd-9d08-02032b9056f0","block_type":"box","text":"Deforestation policy","page_number":75,"box":{"x":72,"y":289,"width":132,"height":10}},{"id":"1d9e9b91-2edc-4479-b23e-b6d920c57e5f","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":289,"width":12,"height":8}},{"id":"da70f96f-2e58-46c1-a8ac-68bc8167d37e","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":289,"width":26,"height":8}},{"id":"148f4018-c633-4bcd-8c0c-d66732b18160","block_type":"box","text":"Number of companies with","page_number":75,"box":{"x":72,"y":302,"width":217,"height":10}},{"id":"abf2afdf-55e6-408a-a11a-b110c8a7d707","block_type":"box","text":"severe environmental","page_number":75,"box":{"x":71,"y":314,"width":218,"height":8}},{"id":"1739b858-daad-493f-b0f0-5f6d3b583bcf","block_type":"box","text":"controversies×","page_number":75,"box":{"x":71,"y":326,"width":98,"height":8}},{"id":"a517e200-3459-41f2-bb8b-066c1d5c83f3","block_type":"box","text":"#","page_number":75,"box":{"x":414,"y":302,"width":7,"height":7}},{"id":"afa7de07-c0df-4e75-ac7f-ba7541d92807","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":302,"width":26,"height":8}},{"id":"03ffcbdd-f900-4931-9b33-9d0010a538c2","block_type":"box","text":"People:","page_number":75,"box":{"x":72,"y":339,"width":52,"height":10}},{"id":"ee07fdbe-4b51-4382-aa9e-0005ecde6885","block_type":"box","text":"Human rights due diligence","page_number":75,"box":{"x":72,"y":352,"width":182,"height":10}},{"id":"fb94adf6-c105-4db2-9765-18dba2ba5108","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":352,"width":12,"height":8}},{"id":"621e8814-31e0-4203-bfae-e42ac1f809ac","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":352,"width":26,"height":8}},{"id":"6a945feb-0447-47f3-a6ad-db67c19fb4a7","block_type":"box","text":"Board gender diversity","page_number":75,"box":{"x":72,"y":365,"width":150,"height":10}},{"id":"6dc023c1-cf79-4624-9e6e-77de18b5d72d","block_type":"box","text":"%","page_number":75,"box":{"x":412,"y":365,"width":12,"height":8}},{"id":"a17d732d-387b-4ee6-943f-019ff4310c61","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":365,"width":26,"height":8}},{"id":"9ba636c9-a206-4b78-8665-fc397e89ecf1","block_type":"box","text":"Number of companies with","page_number":75,"box":{"x":72,"y":378,"width":217,"height":10}},{"id":"62af1d14-6daf-49af-8eb5-a80e76f16720","block_type":"box","text":"severe human rights","page_number":75,"box":{"x":71,"y":390,"width":219,"height":10}},{"id":"c6c46247-8502-4650-8618-94f20208a21a","block_type":"box","text":"controversies×","page_number":75,"box":{"x":71,"y":402,"width":98,"height":8}},{"id":"363d3569-c5a0-4aff-a575-cd54ca4058bf","block_type":"box","text":"#","page_number":75,"box":{"x":414,"y":378,"width":7,"height":8}},{"id":"8b0db7f4-a832-41b9-9feb-86cfa458772a","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":378,"width":26,"height":8}},{"id":"293654dc-e950-4564-8273-faa3738e4958","block_type":"box","text":"Number of companies with","page_number":75,"box":{"x":72,"y":415,"width":217,"height":10}},{"id":"7fa73617-824c-4796-8f08-f3280cb92342","block_type":"box","text":"severe labour rights","page_number":75,"box":{"x":71,"y":428,"width":219,"height":10}},{"id":"190fe1f7-d8b8-4a38-9c27-f8de5ca705ab","block_type":"box","text":"controversies×","page_number":75,"box":{"x":71,"y":440,"width":98,"height":8}},{"id":"582b1fb7-1c88-4a26-8c8f-330d25fcd5f9","block_type":"box","text":"#","page_number":75,"box":{"x":414,"y":416,"width":7,"height":7}},{"id":"cd48ae57-f65c-47bd-bba1-ada9ad08a791","block_type":"box","text":"Yes","page_number":75,"box":{"x":642,"y":415,"width":26,"height":8}},{"id":"42b480a2-26bc-4f42-8e9a-cfb631e4b0a3","block_type":"box","text":"Source: MSCI, Aladdin, Aviva Investors, CDP Scores, SBTi and CBI.","page_number":75,"box":{"x":62,"y":452,"width":407,"height":9}},{"id":"18c42017-c45d-4974-aff4-f737a79ff5eb","block_type":"box","text":"* Percentage of the Portfolio, based on market value.","page_number":75,"box":{"x":62,"y":463,"width":314,"height":9}},{"id":"0cbca6a0-9d60-4715-8d3c-09ecb8bece90","block_type":"box","text":"× MSCI data tool indicates a “red” or “amber” flag warning of a “very severe” or a “severe” controversy. Red flags are automatically excluded and","page_number":75,"box":{"x":62,"y":474,"width":861,"height":9}},{"id":"55db0d1a-01f4-4932-9b58-de575ee5888f","block_type":"box","text":"therefore are not reflected in the KPI; this KPI shows amber flags (if any) in the portfolio. For an “amber” flagged company to be included in the","page_number":75,"box":{"x":62,"y":485,"width":861,"height":9}},{"id":"7c11b9c8-f21e-4330-ac50-5344b70d2e77","block_type":"box","text":"Fund’s minimum stewardship allocation, credible evidence available to the Investment Manager that MSCI’s methodology has not been applied","page_number":75,"box":{"x":63,"y":496,"width":860,"height":9}},{"id":"85aedd87-3536-41e2-80a0-37cfb483c81e","block_type":"box","text":"consistently and the company should not, in the Investment Manager’s view, be flagged.","page_number":75,"box":{"x":62,"y":507,"width":522,"height":9}},{"id":"c0383fea-b72e-40b7-9500-d39cd11264a0","block_type":"box","text":"The annual report will also update investors on the progress of the Investment Manager’s engagement activities.","page_number":75,"box":{"x":62,"y":532,"width":832,"height":11}},{"id":"6a573a7c-da1f-4289-9706-a2e596d0a345","block_type":"box","text":"Reporting will use data outputs from MSCI under the MSCI SDG Alignment Methodology. As the MSCI methodology","page_number":75,"box":{"x":63,"y":559,"width":860,"height":12}},{"id":"2a2762c8-67fb-443b-827b-8ecc7d586216","block_type":"box","text":"is only one of several information sources used by the Investment Manager pursuant to the investment framework,","page_number":75,"box":{"x":62,"y":573,"width":860,"height":11}},{"id":"7370e7d7-8e0a-4312-adb2-be6014c8a773","block_type":"box","text":"the Investment Manager does not base their investment selection on this methodology. However, the MSCI","page_number":75,"box":{"x":62,"y":587,"width":860,"height":11}},{"id":"74b74bda-c18a-4987-9f70-6a7a2a7537db","block_type":"box","text":"methodology is considered currently aligned with the Investment Manager’s investment philosophy and provides a","page_number":75,"box":{"x":62,"y":601,"width":861,"height":11}},{"id":"800156a6-4464-40fc-b646-ebc8cd5a7268","block_type":"box","text":"holistic view on overall alignment to each of the SDGs. As the Investment Manager has developed its proprietary","page_number":75,"box":{"x":62,"y":614,"width":861,"height":11}},{"id":"4cc64ab1-08f3-469f-8d2c-97639d76079c","block_type":"box","text":"investment framework to encapsulate the aims of the SDGs, it is therefore appropriate as a comparator to give market","page_number":75,"box":{"x":62,"y":628,"width":861,"height":11}},{"id":"53999854-72bc-4c04-80c2-23043e3839d4","block_type":"box","text":"context and a third-party view of SDG alignment, purely to assist investors in assessing the characteristics of the Sub","page_number":75,"box":{"x":62,"y":641,"width":861,"height":12}},{"id":"13cfb4cd-984e-453a-9249-0ead552e810c","block_type":"box","text":"Fund.","page_number":75,"box":{"x":63,"y":655,"width":40,"height":9}},{"id":"f579fe1f-87b2-4689-800a-7ab7b5049080","block_type":"box","text":"Additional Information","page_number":75,"box":{"x":62,"y":694,"width":177,"height":9}},{"id":"01160766-c39d-47cd-93d1-a1ef091b3f18","block_type":"box","text":"Investment Manager","page_number":75,"box":{"x":118,"y":721,"width":151,"height":11}},{"id":"6967e5fd-5ce2-4764-a98e-cc3c6af7492d","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":75,"box":{"x":352,"y":720,"width":294,"height":9}},{"id":"297d5521-7b26-4262-81f7-ee86df3dae79","block_type":"box","text":"Type of Units","page_number":75,"box":{"x":116,"y":747,"width":98,"height":11}},{"id":"1f56dc13-55f9-4d6d-b5d8-721d9003ce5d","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":75,"box":{"x":353,"y":747,"width":292,"height":11}},{"id":"94e4278b-1164-4ab4-9e81-dfa562dcf6e2","block_type":"box","text":"Insured Pension Accumulation Units","page_number":75,"box":{"x":354,"y":773,"width":267,"height":9}},{"id":"d0734a61-17c6-4c22-95ac-36d92c143f46","block_type":"box","text":"UK Institutional Accumulation Units","page_number":75,"box":{"x":353,"y":799,"width":260,"height":9}},{"id":"58799bcb-d32f-457e-8299-0ac005dcb731","block_type":"box","text":"UK Feeder Fund Accumulation Units","page_number":75,"box":{"x":353,"y":825,"width":271,"height":9}},{"id":"b88dbaea-4f18-4789-b72b-79cebc64cf77","block_type":"box","text":"Dealing Day","page_number":75,"box":{"x":118,"y":851,"width":89,"height":11}},{"id":"70905175-18c5-44c1-a0f8-a0e44a82f231","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":75,"box":{"x":354,"y":851,"width":393,"height":11}},{"id":"a292d216-7199-4fe0-ab82-d22cbe9c26af","block_type":"box","text":"Deal Cut-Off Point","page_number":75,"box":{"x":118,"y":877,"width":134,"height":9}},{"id":"7dae6a27-050f-4ffa-87f8-887e50f55b1d","block_type":"box","text":"12.00 noon","page_number":75,"box":{"x":354,"y":878,"width":81,"height":8}},{"id":"eecb0790-db10-4395-86e4-4fbd15d60d97","block_type":"box","text":"Valuation Point","page_number":75,"box":{"x":117,"y":904,"width":112,"height":8}},{"id":"e9c46a0f-58db-4712-a591-4fb34b6f8502","block_type":"box","text":"12.00 noon","page_number":75,"box":{"x":354,"y":904,"width":81,"height":8}},{"id":"99601a50-cd43-499a-aab3-6841c1506f60","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":76,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"8407a728-5344-4b00-85c1-57ea54dcd2ca","block_type":"box","text":"76","page_number":76,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"92a23828-7a5e-4326-882b-21c6335e7b25","block_type":"box","text":"Aviva Investors: Confidential","page_number":76,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d3ef4c90-9ab1-484e-aa59-b5e0da5fd125","block_type":"box","text":"*Minimum Investment","page_number":76,"box":{"x":117,"y":59,"width":172,"height":9}},{"id":"45d1e51a-53d6-4052-8e2e-a505f98e1776","block_type":"box","text":"UK Corporate Income","page_number":76,"box":{"x":118,"y":85,"width":160,"height":11}},{"id":"3a23ff31-9384-49df-afd5-86ce4a8cfd62","block_type":"box","text":"Distribution Units, Insured","page_number":76,"box":{"x":118,"y":99,"width":189,"height":10}},{"id":"42c6d42c-4aac-460d-8184-5932aa324256","block_type":"box","text":"Pension Accumulation Units","page_number":76,"box":{"x":118,"y":113,"width":207,"height":8}},{"id":"be4dfc65-c7fc-4b33-8727-1448bfcc6cad","block_type":"box","text":"UK Institutional","page_number":76,"box":{"x":118,"y":126,"width":110,"height":9}},{"id":"18dca66a-c2a9-42e8-a7c5-f4f267ae708c","block_type":"box","text":"Accumulation Units, UK","page_number":76,"box":{"x":116,"y":140,"width":176,"height":10}},{"id":"332bde20-6095-4802-bf1b-af6a167648be","block_type":"box","text":"Feeder Fund Accumulation","page_number":76,"box":{"x":118,"y":154,"width":199,"height":8}},{"id":"eac550e9-c578-43cd-95fe-8705d98ca8cc","block_type":"box","text":"Units","page_number":76,"box":{"x":118,"y":167,"width":36,"height":9}},{"id":"b0737394-0fdb-4e7e-9eec-bc22f56fa048","block_type":"box","text":"No minimum","page_number":76,"box":{"x":353,"y":85,"width":92,"height":9}},{"id":"c843a46b-afd7-41b9-b75b-53a6f6086d95","block_type":"box","text":"Minimum withdrawal","page_number":76,"box":{"x":117,"y":193,"width":150,"height":9}},{"id":"e8a9233b-392a-45f2-a23e-a4e1792e1489","block_type":"box","text":"No minimum","page_number":76,"box":{"x":353,"y":193,"width":92,"height":9}},{"id":"62646cfc-0273-4cb6-8fde-37d2d7a617b4","block_type":"box","text":"Tax Criteria for investment","page_number":76,"box":{"x":116,"y":219,"width":213,"height":9}},{"id":"42d30aad-1a26-4cf3-ad94-c7437791efff","block_type":"box","text":"UK Corporate Income","page_number":76,"box":{"x":118,"y":245,"width":160,"height":11}},{"id":"3524507d-d18a-4283-bde8-13a2a91e5315","block_type":"box","text":"Distribution Units","page_number":76,"box":{"x":118,"y":259,"width":124,"height":9}},{"id":"fa9e8a15-1813-4b68-af11-a7265bf96569","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":76,"box":{"x":352,"y":245,"width":404,"height":12}},{"id":"3235a0bd-447b-4e0c-912c-1c6e7b60f8f9","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":76,"box":{"x":353,"y":259,"width":404,"height":11}},{"id":"47a6738d-3b28-49d3-b9bc-edd012e617f7","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":76,"box":{"x":352,"y":273,"width":405,"height":11}},{"id":"584374d9-52cc-4c0a-a933-5b28f99a274f","block_type":"box","text":"linked pension business contracts.","page_number":76,"box":{"x":353,"y":287,"width":253,"height":11}},{"id":"349e5629-f3a3-4b26-aa2f-ca1bdd7f36ff","block_type":"box","text":"Insured Pension","page_number":76,"box":{"x":118,"y":313,"width":118,"height":8}},{"id":"e3df55db-1bd2-434f-82fb-3ae2e3befbdd","block_type":"box","text":"Accumulation Units","page_number":76,"box":{"x":116,"y":326,"width":143,"height":9}},{"id":"54723712-d3d8-404b-ba10-a446ab0f5ec2","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":76,"box":{"x":352,"y":312,"width":404,"height":12}},{"id":"fa14e113-6da0-4f66-99e2-8cb17b463c1c","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":76,"box":{"x":353,"y":326,"width":404,"height":11}},{"id":"d779f4a2-646f-4b08-b798-0b6999260015","block_type":"box","text":"back exclusively its unit linked pension business","page_number":76,"box":{"x":353,"y":340,"width":404,"height":11}},{"id":"707f7131-6d5a-4276-b60c-f8e51e830ef2","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":76,"box":{"x":353,"y":354,"width":404,"height":11}},{"id":"046d9e6e-3766-4ee9-b22f-94b2dd8b0d78","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":76,"box":{"x":353,"y":367,"width":307,"height":11}},{"id":"d55bec65-783e-4598-9f56-7ced5dad37a1","block_type":"box","text":"UK Institutional","page_number":76,"box":{"x":118,"y":393,"width":110,"height":9}},{"id":"a265ba19-f0f7-40f7-9f1e-97567bedde2c","block_type":"box","text":"Accumulation Units","page_number":76,"box":{"x":116,"y":407,"width":143,"height":9}},{"id":"8c5b0649-0a16-4dbb-81c2-476ed91cbd2d","block_type":"box","text":"UK Feeder Fund","page_number":76,"box":{"x":118,"y":446,"width":121,"height":9}},{"id":"fc06452b-a2bb-4437-960c-11e2df34f5f1","block_type":"box","text":"Accumulation Units","page_number":76,"box":{"x":116,"y":460,"width":143,"height":9}},{"id":"1ea43506-a32b-4c1a-8d1c-acb5f2033065","block_type":"box","text":"Additional Criteria for","page_number":76,"box":{"x":117,"y":499,"width":172,"height":9}},{"id":"1148ebee-73ae-469f-99a3-9e22c8bd81d4","block_type":"box","text":"Investment – UK Feeder","page_number":76,"box":{"x":117,"y":513,"width":190,"height":8}},{"id":"d75792aa-6306-4894-b475-1c94f4ac5da4","block_type":"box","text":"Fund Accumulation Units","page_number":76,"box":{"x":118,"y":526,"width":201,"height":9}},{"id":"131d8657-30f2-4b19-bbdf-1c1e5948c1f3","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":76,"box":{"x":352,"y":393,"width":404,"height":11}},{"id":"56f94d8a-ee22-41b6-b9a3-9f0972765f5a","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":76,"box":{"x":353,"y":407,"width":403,"height":11}},{"id":"2e8cea05-ada1-4c36-85c3-1f0805170c7a","block_type":"box","text":"tax treaties.","page_number":76,"box":{"x":352,"y":421,"width":85,"height":9}},{"id":"a95208cd-0c94-44d6-9200-614e4fbd6b37","block_type":"box","text":"A sub-fund of a UK authorised Non-UCITS Retail","page_number":76,"box":{"x":352,"y":440,"width":404,"height":9}},{"id":"4013b44e-c032-4ea5-b9fc-06ceae731dff","block_type":"box","text":"Scheme","page_number":76,"box":{"x":353,"y":454,"width":60,"height":9}},{"id":"6efe0fd6-ddb5-48db-97d7-b59fd1137936","block_type":"box","text":"Units are only available to collective investment","page_number":76,"box":{"x":353,"y":493,"width":404,"height":11}},{"id":"b4d46652-2726-489a-b44c-eba587239807","block_type":"box","text":"schemes operated by the ACS Manager and","page_number":76,"box":{"x":353,"y":507,"width":403,"height":11}},{"id":"37059966-e33e-4914-9576-8353290deb31","block_type":"box","text":"established as a feeder scheme dedicated to Units in","page_number":76,"box":{"x":353,"y":520,"width":403,"height":9}},{"id":"9cbbdf3a-f2a3-493d-93b3-8e84599a329e","block_type":"box","text":"the Sub-Fund","page_number":76,"box":{"x":352,"y":534,"width":101,"height":9}},{"id":"e63d38b1-b8c1-406c-891c-d2c806622fc8","block_type":"box","text":"**Current Charges:","page_number":76,"box":{"x":117,"y":572,"width":149,"height":11}},{"id":"72fab75b-ceef-4a7d-9f91-40e0280a28ea","block_type":"box","text":"UK Corporate Income","page_number":76,"box":{"x":118,"y":598,"width":160,"height":11}},{"id":"af5f04d3-f595-4352-aa1a-097050b4301d","block_type":"box","text":"Distribution Units, Insured","page_number":76,"box":{"x":118,"y":612,"width":189,"height":10}},{"id":"3d3a9f2e-813a-4efd-8754-a896bfccaf6b","block_type":"box","text":"Pension Accumulation Units","page_number":76,"box":{"x":118,"y":626,"width":207,"height":8}},{"id":"cec33bdd-77ad-452d-866d-be1aa2fd1de1","block_type":"box","text":",","page_number":76,"box":{"x":327,"y":633,"width":2,"height":3}},{"id":"338dcc80-340b-4c60-b7d5-95a9f2a4ceea","block_type":"box","text":"UK Institutional","page_number":76,"box":{"x":118,"y":639,"width":110,"height":9}},{"id":"8dca4dfb-52f4-4047-bb99-17700c68fed0","block_type":"box","text":"Accumulation Units","page_number":76,"box":{"x":116,"y":653,"width":143,"height":9}},{"id":"c3c66986-a448-41fc-9d5b-931a44117fab","block_type":"box","text":"UK Feeder Fund","page_number":76,"box":{"x":118,"y":692,"width":121,"height":9}},{"id":"7dbdff0b-215a-43a1-9acc-2060e648d21d","block_type":"box","text":"Accumulation Units","page_number":76,"box":{"x":116,"y":706,"width":143,"height":9}},{"id":"e3985c70-f75e-4918-958d-47aa3ac9a7cf","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":76,"box":{"x":352,"y":598,"width":404,"height":11}},{"id":"c64a2e47-9064-4124-9210-16f118899e7d","block_type":"box","text":"Unitholder","page_number":76,"box":{"x":353,"y":612,"width":75,"height":9}},{"id":"b62ef247-f0bc-4e86-8222-de7009d0a11d","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":76,"box":{"x":352,"y":631,"width":404,"height":12}},{"id":"7d2a9419-bee0-48c4-863f-bd71890aa71d","block_type":"box","text":"property","page_number":76,"box":{"x":353,"y":646,"width":60,"height":10}},{"id":"7b9e5f0e-0b65-43da-bf88-602130b07f78","block_type":"box","text":"ACS management charge: Deducted from Scheme","page_number":76,"box":{"x":352,"y":684,"width":404,"height":11}},{"id":"fbcdaf8a-b991-4be6-9b34-b6f2cc8cdc26","block_type":"box","text":"Property. Currently 0.00%","page_number":76,"box":{"x":354,"y":698,"width":191,"height":11}},{"id":"c22ad60a-ecb4-473e-afa0-07a639d77bbd","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":76,"box":{"x":352,"y":717,"width":404,"height":12}},{"id":"c215e974-b416-47cf-8f7e-e25784309e87","block_type":"box","text":"property","page_number":76,"box":{"x":353,"y":732,"width":60,"height":10}},{"id":"deb4681c-7199-4a9e-af09-fd0eb660c2aa","block_type":"box","text":"Accounting Dates","page_number":76,"box":{"x":117,"y":777,"width":141,"height":11}},{"id":"d7eaaed3-90ba-4fd3-8bcc-83ee3163bb2d","block_type":"box","text":"Annual Accounting Date","page_number":76,"box":{"x":116,"y":803,"width":180,"height":11}},{"id":"1aafa4e8-6874-47f0-8874-78afc707f07b","block_type":"box","text":"31 December","page_number":76,"box":{"x":353,"y":803,"width":100,"height":9}},{"id":"dbf3ac33-40ff-4f05-b5e6-44898600ee9d","block_type":"box","text":"First Accounting Date","page_number":76,"box":{"x":118,"y":829,"width":158,"height":12}},{"id":"be6adf08-25a3-4bfe-ae60-efc11bfffb02","block_type":"box","text":"31 December 2015","page_number":76,"box":{"x":353,"y":829,"width":141,"height":9}},{"id":"46d888db-b66e-47fe-a12a-cd052b6f5601","block_type":"box","text":"Annual Income Allocation","page_number":76,"box":{"x":116,"y":855,"width":188,"height":9}},{"id":"639ae5fe-b805-4dee-8a50-b0552e25ba5c","block_type":"box","text":"Date","page_number":76,"box":{"x":118,"y":869,"width":33,"height":9}},{"id":"3ef6cd63-5cdd-4d6c-a5b2-96b8d7cc2f51","block_type":"box","text":"On or before 28 /29 February","page_number":76,"box":{"x":353,"y":855,"width":217,"height":12}},{"id":"465745cd-2efe-4797-9e79-77fd8727da1f","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":76,"box":{"x":118,"y":895,"width":293,"height":11}},{"id":"355ed60a-f38a-46a2-b6d4-fe34eb0398a7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":77,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"e0bd70b0-a70d-41ba-945a-0b5ab69ddab4","block_type":"box","text":"77","page_number":77,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"6d127e74-372a-4bef-8919-f7315c65a051","block_type":"box","text":"Aviva Investors: Confidential","page_number":77,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"7c48ada2-26ed-4162-81a8-a4707bea9cac","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":77,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"d0da3008-4ec3-45e2-a1b9-41344c92ffbe","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":77,"box":{"x":62,"y":66,"width":408,"height":11}},{"id":"9814edd2-dab6-422b-a09e-c7c15577179c","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":77,"box":{"x":62,"y":86,"width":642,"height":11}},{"id":"341095e5-f30d-45c3-b4e7-a2a26ae5891d","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":77,"box":{"x":62,"y":105,"width":860,"height":12}},{"id":"b49035a6-51f0-499e-8b76-624edf4a1b66","block_type":"box","text":"this Prospectus.","page_number":77,"box":{"x":62,"y":119,"width":117,"height":11}},{"id":"de12b22e-0a64-4dca-bbea-38a6e43ba2cc","block_type":"box","text":"□","page_number":77,"box":{"x":62,"y":134,"width":5,"height":4}},{"id":"f73e9dea-891b-481a-84c2-b6baa7198353","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":77,"box":{"x":74,"y":133,"width":342,"height":8}},{"id":"f8de4845-f802-4b6c-81ad-6c1e05c49220","block_type":"box","text":"#","page_number":77,"box":{"x":62,"y":159,"width":5,"height":6}},{"id":"890f83ae-4093-4ffd-bfe6-37b8530a84ae","block_type":"box","text":"Prior to 7 April 2025 this Sub-Fund was called AI Sustainable Stewardship UK Equity Income Fund.","page_number":77,"box":{"x":69,"y":160,"width":734,"height":11}},{"id":"2a81665e-0b93-4056-bf46-2f1b294dac43","block_type":"box","text":"Securities Financing and other Transactions:","page_number":77,"box":{"x":62,"y":180,"width":358,"height":11}},{"id":"169d5888-199b-4101-858c-4025386f1af1","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":77,"box":{"x":62,"y":199,"width":860,"height":11}},{"id":"c9f0d88b-570c-4fb4-be7a-16e4a6e9c30a","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":77,"box":{"x":62,"y":213,"width":438,"height":11}},{"id":"5af0f65d-1c43-4cfc-942d-83c69841570d","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions","page_number":77,"box":{"x":62,"y":252,"width":861,"height":11}},{"id":"b03142c3-1c61-4ef3-abb1-80bb4c68d2c8","block_type":"box","text":"is 50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a","page_number":77,"box":{"x":62,"y":266,"width":861,"height":11}},{"id":"6f93c251-12c6-497a-a976-1d0127ed8a5b","block_type":"box","text":"given time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo","page_number":77,"box":{"x":62,"y":279,"width":861,"height":12}},{"id":"0d62ad57-898c-4dc4-9e30-0ccae4f1cc71","block_type":"box","text":"transactions is 15%.","page_number":77,"box":{"x":62,"y":293,"width":148,"height":9}},{"id":"ab366ee0-8485-47b8-b6f8-bcb3e28d3ff3","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":77,"box":{"x":62,"y":332,"width":860,"height":11}},{"id":"ce502997-e133-4766-b5b8-a1538e88fb58","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":77,"box":{"x":62,"y":346,"width":860,"height":11}},{"id":"736c003d-1e83-4ec6-be66-19bec66c72f6","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":77,"box":{"x":62,"y":359,"width":861,"height":12}},{"id":"949c4707-9b7b-4529-8a35-ea77f70aa81e","block_type":"box","text":"is zero.","page_number":77,"box":{"x":62,"y":373,"width":52,"height":9}},{"id":"7dab8a04-c448-41e8-93f9-f3fcc3872de9","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":77,"box":{"x":62,"y":432,"width":249,"height":9}},{"id":"3b09cda1-a5c4-42e5-b7a6-0ea8a00ff918","block_type":"box","text":"Leverage","page_number":77,"box":{"x":63,"y":471,"width":72,"height":11}},{"id":"9e7e22d7-cdae-4385-8b53-261d416abb1f","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":77,"box":{"x":63,"y":491,"width":860,"height":11}},{"id":"42c49f71-e85b-4c47-920a-93aa0d0dcaf5","block_type":"box","text":"management.","page_number":77,"box":{"x":62,"y":505,"width":101,"height":11}},{"id":"af0a1ba6-4930-4b78-b6ce-0de618bb870a","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":77,"box":{"x":62,"y":537,"width":860,"height":12}},{"id":"3accc0f6-9179-4735-925f-69b7d8fc917a","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":77,"box":{"x":62,"y":551,"width":649,"height":11}},{"id":"b241063d-31d7-4865-a1fd-b249299a4b0f","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":77,"box":{"x":62,"y":579,"width":755,"height":11}},{"id":"1a2ce686-306d-4980-9724-36a65d261a51","block_type":"box","text":"Permitted derivatives","page_number":77,"box":{"x":72,"y":622,"width":168,"height":9}},{"id":"4fc9fe50-283a-4164-9f79-f6fd34fd8a99","block_type":"box","text":"Permitted?","page_number":77,"box":{"x":383,"y":622,"width":85,"height":9}},{"id":"df169085-0dfd-40e8-b6a4-099a37609669","block_type":"box","text":"Prohibited?","page_number":77,"box":{"x":489,"y":622,"width":91,"height":9}},{"id":"d39695a3-1f0b-4ece-9cc8-a4f4a13c78ff","block_type":"box","text":"Equity index futures","page_number":77,"box":{"x":72,"y":643,"width":146,"height":11}},{"id":"e657f76a-952c-43f3-b2e8-ecff1b9e26bd","block_type":"box","text":"√","page_number":77,"box":{"x":421,"y":643,"width":8,"height":8}},{"id":"0c8770a4-737c-4e5f-9b17-0462a748b29e","block_type":"box","text":"Government bond futures","page_number":77,"box":{"x":72,"y":661,"width":188,"height":9}},{"id":"19d37a92-5cb4-4d0d-be32-8d0c699e3452","block_type":"box","text":"√","page_number":77,"box":{"x":530,"y":662,"width":8,"height":7}},{"id":"6b5ea9ec-366c-45b5-9411-80ab9c96215d","block_type":"box","text":"Equity index options","page_number":77,"box":{"x":72,"y":680,"width":148,"height":11}},{"id":"1e22862b-56fb-4261-b7e8-bbf80920fd11","block_type":"box","text":"√","page_number":77,"box":{"x":421,"y":680,"width":8,"height":8}},{"id":"f3623134-f310-4a46-b0a2-0cc1d24d135f","block_type":"box","text":"Forward foreign exchange","page_number":77,"box":{"x":72,"y":698,"width":193,"height":11}},{"id":"6b976fb7-20dc-4931-82db-eb65b3e6cecf","block_type":"box","text":"√","page_number":77,"box":{"x":421,"y":698,"width":8,"height":8}},{"id":"04bf6fbd-6b61-4b1e-b53e-9b83d08c3805","block_type":"box","text":"Index credit default swaps","page_number":77,"box":{"x":72,"y":716,"width":192,"height":11}},{"id":"2c92a0e1-32db-40e0-9ca8-502c499993ec","block_type":"box","text":"√","page_number":77,"box":{"x":530,"y":717,"width":8,"height":7}},{"id":"0854eb32-f873-4c0f-905d-8c34dfe37503","block_type":"box","text":"Interest rate swaps","page_number":77,"box":{"x":72,"y":735,"width":140,"height":11}},{"id":"8e278a67-f8a0-48cc-a477-a0e611364e4a","block_type":"box","text":"√","page_number":77,"box":{"x":530,"y":735,"width":8,"height":8}},{"id":"f9e2cd10-f848-4876-bf99-66432fe700c4","block_type":"box","text":"OTC equity options","page_number":77,"box":{"x":72,"y":753,"width":142,"height":11}},{"id":"f318808e-f7c8-4769-8e69-1457c5f8eea6","block_type":"box","text":"√","page_number":77,"box":{"x":421,"y":754,"width":8,"height":7}},{"id":"0677f2ad-e400-497f-b1aa-d3f046cc291e","block_type":"box","text":"Inflation swaps","page_number":77,"box":{"x":72,"y":772,"width":109,"height":11}},{"id":"96b4f9a2-5d8d-4562-a82f-81386745f3c3","block_type":"box","text":"√","page_number":77,"box":{"x":530,"y":772,"width":8,"height":8}},{"id":"d02ea889-caa9-4ab2-bea9-aac2da109698","block_type":"box","text":"Cross currency swaps","page_number":77,"box":{"x":72,"y":790,"width":163,"height":11}},{"id":"3e06dc33-1dff-4b73-aec0-a36fb04c70e0","block_type":"box","text":"√","page_number":77,"box":{"x":530,"y":790,"width":8,"height":8}},{"id":"51835028-48e0-4f0c-92cc-6747bd6d3110","block_type":"box","text":"Other","page_number":77,"box":{"x":72,"y":808,"width":41,"height":9}},{"id":"7ef5cc3a-747b-46e4-86f5-c954faaf9218","block_type":"box","text":"√","page_number":77,"box":{"x":530,"y":809,"width":8,"height":7}},{"id":"9af0d84d-d89b-4f5f-a71a-bcc4e69c2f70","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":77,"box":{"x":63,"y":836,"width":860,"height":12}},{"id":"573b7b0c-162a-4907-bef8-722c91d23105","block_type":"box","text":"2)","page_number":77,"box":{"x":62,"y":850,"width":13,"height":11}},{"id":"f7b94a2b-21fc-4462-91c3-492a3c32b57e","block_type":"box","text":"Leverage Limits","page_number":77,"box":{"x":63,"y":877,"width":128,"height":12}},{"id":"19d74139-f6a9-4de6-b6e5-19b0d15ce45f","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":77,"box":{"x":200,"y":877,"width":722,"height":12}},{"id":"6d2380a6-4821-4bf1-9459-8f4eb7accbbe","block_type":"box","text":"Regime):","page_number":77,"box":{"x":63,"y":891,"width":65,"height":11}},{"id":"02c4892b-909a-4d8f-85dd-d10f2fa59f04","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":77,"box":{"x":62,"y":918,"width":471,"height":11}},{"id":"d99a9ffa-1517-4e4a-8686-761a2ef902ec","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":78,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"59a442d2-e611-4a1d-9ceb-b10ae4c2c776","block_type":"box","text":"78","page_number":78,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"3c7cd5a5-1591-4ea3-a527-3efee813b4de","block_type":"box","text":"Aviva Investors: Confidential","page_number":78,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"9acfe585-7512-46a3-a80b-4d21a03ba8a0","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":72,"width":6,"height":5}},{"id":"64c84c1b-a8cf-4480-b7d5-6fb4cc93d09a","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":78,"box":{"x":92,"y":69,"width":193,"height":11}},{"id":"26324e13-2266-4298-8bf8-fa1e85a074af","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":89,"width":6,"height":4}},{"id":"fb5b8738-eb64-4d7d-a912-e7e6069c3835","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":78,"box":{"x":92,"y":86,"width":183,"height":11}},{"id":"0c9c8be4-079b-4617-86af-f17e312298c9","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":78,"box":{"x":62,"y":113,"width":860,"height":11}},{"id":"01711cba-dcc8-4951-b755-f97d09e3a955","block_type":"box","text":"which case leverage will not exceed the following:","page_number":78,"box":{"x":62,"y":127,"width":368,"height":11}},{"id":"236f56b2-dd5c-484f-880a-caf52958c184","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":158,"width":6,"height":4}},{"id":"9862906c-2983-4e7f-89d6-3a8124a09690","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":78,"box":{"x":92,"y":155,"width":193,"height":11}},{"id":"e39c0d30-4712-4230-a107-cf291b15ff80","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":175,"width":6,"height":4}},{"id":"017fd816-1e57-4ce3-9a07-c51bf3196177","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":78,"box":{"x":92,"y":171,"width":183,"height":12}},{"id":"efb0c99c-5c18-465c-89a4-839ee4704a9a","block_type":"box","text":"Specific Risks","page_number":78,"box":{"x":62,"y":199,"width":113,"height":11}},{"id":"63faf896-f75f-47b2-b964-8230881aa164","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":78,"box":{"x":181,"y":199,"width":462,"height":11}},{"id":"60160f67-c788-4757-8786-d72a2378c2f9","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":223,"width":6,"height":4}},{"id":"cb62f6b7-0cdd-4cf4-b614-282a66b4564a","block_type":"box","text":"Smaller Companies","page_number":78,"box":{"x":92,"y":219,"width":145,"height":12}},{"id":"22c8d442-b148-47ca-a4da-3e5a2b2bfe9d","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":237,"width":6,"height":4}},{"id":"56d179cf-da8d-4b53-9f56-96d7b892f981","block_type":"box","text":"Fixed Interest","page_number":78,"box":{"x":93,"y":234,"width":100,"height":9}},{"id":"23284aec-b29c-4d00-aa49-c9834f9c07e6","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":252,"width":6,"height":4}},{"id":"6f5f8770-b9c1-48f6-9abe-13babadd7fd7","block_type":"box","text":"Specialist","page_number":78,"box":{"x":92,"y":248,"width":71,"height":11}},{"id":"a00a3127-21e8-4c19-befb-dc557e3a8f83","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":266,"width":6,"height":4}},{"id":"4c3c5c13-bfac-4466-8266-d7425046bb5c","block_type":"box","text":"Environmental, Social & Governance","page_number":78,"box":{"x":93,"y":263,"width":272,"height":10}},{"id":"4de274f9-2375-48c1-8c45-6af6cf91a86d","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":280,"width":6,"height":5}},{"id":"2f8551b6-7527-49f1-a791-09d9fa79aac2","block_type":"box","text":"Single Market","page_number":78,"box":{"x":92,"y":277,"width":102,"height":11}},{"id":"a7daebb5-1e6e-4bc0-9f94-63c70d03d020","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":295,"width":6,"height":4}},{"id":"b8adfa89-ac79-46a4-a40f-3a1e2ebaec7e","block_type":"box","text":"Equity Securities","page_number":78,"box":{"x":93,"y":292,"width":123,"height":11}},{"id":"e9cd7ebc-1590-409e-81ea-9829d0168cff","block_type":"box","text":"","page_number":78,"box":{"x":62,"y":309,"width":6,"height":5}},{"id":"f8566f56-4818-4cb7-90c1-5940dd20bb78","block_type":"box","text":"Concentration","page_number":78,"box":{"x":92,"y":306,"width":103,"height":9}},{"id":"e5be3643-175c-4e69-8457-e09956af0887","block_type":"box","text":"Past Performance – AI Stewardship UK Equity Income Fund","page_number":78,"box":{"x":72,"y":352,"width":475,"height":11}},{"id":"b882ec8d-d1b1-4ba9-9fbd-66f43d3556e4","block_type":"box","text":"% Growth","page_number":78,"box":{"x":71,"y":372,"width":77,"height":8}},{"id":"f64699df-8f9b-4454-8bae-e94d4e9835dd","block_type":"box","text":"1/1/2024 to","page_number":78,"box":{"x":287,"y":397,"width":93,"height":8}},{"id":"850efda9-78cb-4ff1-9c51-c26a44620de7","block_type":"box","text":"31/12/2024","page_number":78,"box":{"x":286,"y":409,"width":75,"height":9}},{"id":"04ca15f1-0403-4fea-9095-9204bf051d6f","block_type":"box","text":"1/1/2023 to","page_number":78,"box":{"x":400,"y":397,"width":93,"height":8}},{"id":"c53cb718-a30d-43d8-9fe1-c62181e1e97e","block_type":"box","text":"31/12/2023","page_number":78,"box":{"x":399,"y":409,"width":75,"height":9}},{"id":"8eef57ce-3603-4bc7-b94e-6469c6862f8e","block_type":"box","text":"1/1/2022 to","page_number":78,"box":{"x":513,"y":397,"width":93,"height":8}},{"id":"9462ebbc-28b6-48fb-9d6c-9a7611f9a774","block_type":"box","text":"31/12/2022","page_number":78,"box":{"x":512,"y":409,"width":75,"height":9}},{"id":"10004dbc-3893-46f6-ab56-5dd728654ef9","block_type":"box","text":"1/1/2021 to","page_number":78,"box":{"x":626,"y":397,"width":93,"height":8}},{"id":"38ea97b1-74b1-4165-88f7-3055e02565ff","block_type":"box","text":"31/12/2021","page_number":78,"box":{"x":625,"y":409,"width":73,"height":9}},{"id":"475580f0-a503-462c-964a-8a9d3951180c","block_type":"box","text":"1/1/2020 to","page_number":78,"box":{"x":738,"y":397,"width":100,"height":8}},{"id":"3d336876-c5d0-4f60-81de-104105437978","block_type":"box","text":"31/12/2020","page_number":78,"box":{"x":738,"y":409,"width":75,"height":9}},{"id":"e0b90f91-6575-4351-bc14-6a42cd344e2a","block_type":"box","text":"UK Corporate Income","page_number":78,"box":{"x":72,"y":434,"width":195,"height":10}},{"id":"5969f6e8-1c30-47c0-b34b-1a7d7b446d8c","block_type":"box","text":"Distribution Units (%)","page_number":78,"box":{"x":72,"y":447,"width":140,"height":10}},{"id":"fbcaf02f-8292-42ee-8a37-7a06bc6c1b69","block_type":"box","text":"10.40","page_number":78,"box":{"x":287,"y":435,"width":36,"height":7}},{"id":"eada154a-6b81-4f73-89da-7018edff297c","block_type":"box","text":"10.31","page_number":78,"box":{"x":400,"y":435,"width":34,"height":7}},{"id":"9f3f56b4-5eec-43d3-8b02-8b10b655470f","block_type":"box","text":"-9.81","page_number":78,"box":{"x":512,"y":435,"width":31,"height":7}},{"id":"878534ba-cc81-43e8-83b6-6153062841e8","block_type":"box","text":"16.9","page_number":78,"box":{"x":626,"y":435,"width":27,"height":7}},{"id":"70d54d7a-df57-4880-a204-fa5aaecd9870","block_type":"box","text":"-9.0","page_number":78,"box":{"x":738,"y":435,"width":25,"height":7}},{"id":"6555bf9d-aef0-4794-8934-46b7c01e517a","block_type":"box","text":"Insured Pension Income","page_number":78,"box":{"x":72,"y":477,"width":195,"height":8}},{"id":"890ee97a-385b-4c61-9adf-09800ab6ca4a","block_type":"box","text":"Distribution Units (%)","page_number":78,"box":{"x":72,"y":489,"width":140,"height":11}},{"id":"62ee5bc9-52dd-46d8-9a19-a721c37589d8","block_type":"box","text":"UK Institutional Accumulation","page_number":78,"box":{"x":72,"y":514,"width":195,"height":8}},{"id":"788c6ba2-e771-44f5-9b8c-b0f10fb15043","block_type":"box","text":"Units (%)","page_number":78,"box":{"x":72,"y":527,"width":60,"height":10}},{"id":"56f20d5b-4eb7-4b0e-862e-e8e0f9d36270","block_type":"box","text":"10.01","page_number":78,"box":{"x":287,"y":515,"width":34,"height":7}},{"id":"49497025-18f4-4ff1-bc85-d536a9c64af0","block_type":"box","text":"10.45","page_number":78,"box":{"x":400,"y":515,"width":36,"height":7}},{"id":"225fcff3-aaf1-4eb1-83d9-e128153d5641","block_type":"box","text":"-9.81","page_number":78,"box":{"x":512,"y":515,"width":31,"height":7}},{"id":"fa26cbed-a3c8-42ee-84bc-6530a1540a8e","block_type":"box","text":"17.1","page_number":78,"box":{"x":626,"y":515,"width":25,"height":7}},{"id":"9f299161-9c0b-4f94-90a8-ab16d4470bd0","block_type":"box","text":"-9.0","page_number":78,"box":{"x":738,"y":515,"width":25,"height":7}},{"id":"f0e2d566-e433-453f-8421-9b464a9d2ee8","block_type":"box","text":"ACS (Fund of Fund)","page_number":78,"box":{"x":71,"y":557,"width":196,"height":10}},{"id":"41e8020f-cc08-4d7d-ac98-9a85cde0e12a","block_type":"box","text":"Accumulation Units Class 1","page_number":78,"box":{"x":71,"y":570,"width":194,"height":8}},{"id":"c10bf4fe-1fe9-4770-8824-7fb2151fdc1a","block_type":"box","text":"(%)","page_number":78,"box":{"x":72,"y":582,"width":21,"height":10}},{"id":"d34813aa-ee2b-47f1-a9fb-18e378a8c7d1","block_type":"box","text":"ACS (Fund of Fund)","page_number":78,"box":{"x":71,"y":607,"width":196,"height":10}},{"id":"2209d5f6-d5e2-4bb5-9d1b-d1509d45940f","block_type":"box","text":"Accumulation Units Class 2","page_number":78,"box":{"x":71,"y":619,"width":196,"height":8}},{"id":"4023607d-15e2-4f9a-921f-c9c8e3e51b68","block_type":"box","text":"(%)","page_number":78,"box":{"x":72,"y":631,"width":21,"height":10}},{"id":"9e2ad831-b80d-4664-81d1-c0fe23b51eab","block_type":"box","text":"UK Corporate Accumulation","page_number":78,"box":{"x":72,"y":656,"width":195,"height":10}},{"id":"fe689206-ca1b-46e9-9a61-6a1592bfd486","block_type":"box","text":"Units (%)","page_number":78,"box":{"x":72,"y":668,"width":60,"height":10}},{"id":"e56e1b51-dddd-42ce-9102-74094514196d","block_type":"box","text":"Insured Pension","page_number":78,"box":{"x":72,"y":693,"width":195,"height":8}},{"id":"e41e7cd2-4af0-46c3-98f2-d26cb662a25e","block_type":"box","text":"Accumulation Units (%)","page_number":78,"box":{"x":71,"y":705,"width":156,"height":10}},{"id":"3dd78536-3e1e-4976-bc26-4d83b515354c","block_type":"box","text":"10.41","page_number":78,"box":{"x":287,"y":693,"width":34,"height":8}},{"id":"535b51ec-babf-479e-84e7-f507cadc9539","block_type":"box","text":"10.32","page_number":78,"box":{"x":400,"y":693,"width":36,"height":8}},{"id":"26e163af-02b9-4b44-82d2-efc5392cbf79","block_type":"box","text":"-9.75","page_number":78,"box":{"x":512,"y":693,"width":34,"height":8}},{"id":"4dba680e-bc68-4cf3-9dae-185c4b19dc74","block_type":"box","text":"16.9","page_number":78,"box":{"x":626,"y":693,"width":27,"height":8}},{"id":"2ba9ed2e-bf8a-4205-b2dd-6f1a8b55da0d","block_type":"box","text":"-8.9","page_number":78,"box":{"x":738,"y":693,"width":25,"height":8}},{"id":"bf9f0b69-fb60-4841-836c-14c6662c749d","block_type":"box","text":"UK Fund of Fund","page_number":78,"box":{"x":72,"y":736,"width":195,"height":8}},{"id":"18cf3667-3b22-4f8f-aa41-25a669b4acdd","block_type":"box","text":"Accumulation Units (%)","page_number":78,"box":{"x":71,"y":748,"width":156,"height":10}},{"id":"3d04d844-f5bd-4e14-8f16-571fc5076635","block_type":"box","text":"UK Feeder Fund","page_number":78,"box":{"x":72,"y":773,"width":195,"height":8}},{"id":"aaee160e-daf2-4ef2-b2db-35f8633d580a","block_type":"box","text":"Accumulation Units (%)","page_number":78,"box":{"x":71,"y":785,"width":156,"height":10}},{"id":"25146948-a3b1-400c-998d-c19007548f62","block_type":"box","text":"N/A","page_number":78,"box":{"x":287,"y":773,"width":24,"height":8}},{"id":"55e8a837-69c9-4831-80b1-8333425e39a8","block_type":"box","text":"10.40","page_number":78,"box":{"x":400,"y":773,"width":36,"height":8}},{"id":"588a7769-8b32-4bf8-9f96-e258f3f85c53","block_type":"box","text":"-9.82","page_number":78,"box":{"x":512,"y":773,"width":33,"height":8}},{"id":"88fac6f5-c824-4f2d-9234-5737d19bef64","block_type":"box","text":"N/A","page_number":78,"box":{"x":626,"y":773,"width":23,"height":8}},{"id":"e48f271c-8a2c-4f20-93fe-38e85e0078c8","block_type":"box","text":"N/A","page_number":78,"box":{"x":739,"y":773,"width":23,"height":8}},{"id":"37260349-a4b7-4039-92f5-84172b361ccf","block_type":"box","text":"Index - FTSE® All-Share","page_number":78,"box":{"x":72,"y":819,"width":196,"height":8}},{"id":"5861f068-42ff-4871-bc4b-0cb9fd765d13","block_type":"box","text":"Custom Index","page_number":78,"box":{"x":73,"y":831,"width":93,"height":8}},{"id":"ab9adae7-28a1-49e0-805e-2c7fe09921b0","block_type":"box","text":"(prior to 15 February 2021,","page_number":78,"box":{"x":73,"y":850,"width":194,"height":10}},{"id":"abf5043b-e281-4c2d-bd18-cbfea569b263","block_type":"box","text":"performance of the Sub-Fund","page_number":78,"box":{"x":71,"y":862,"width":198,"height":10}},{"id":"89f45ffe-df03-4b37-8202-acfa20ba25f6","block_type":"box","text":"was not assessed against the","page_number":78,"box":{"x":73,"y":874,"width":195,"height":10}},{"id":"dbe4088f-0b7e-485a-ae45-98368a945016","block_type":"box","text":"FTSE® All-Share Custom","page_number":78,"box":{"x":72,"y":886,"width":196,"height":8}},{"id":"b73b61cb-f40d-41c4-904c-59ed988df336","block_type":"box","text":"Index)","page_number":78,"box":{"x":72,"y":899,"width":41,"height":10}},{"id":"74ad2363-c062-4551-8301-3dcaf3128cd5","block_type":"box","text":"10.94","page_number":78,"box":{"x":289,"y":819,"width":36,"height":8}},{"id":"73ae1309-ccc2-48a5-a594-da78ec7bad51","block_type":"box","text":"9.42","page_number":78,"box":{"x":400,"y":819,"width":28,"height":8}},{"id":"75288e8d-b186-4b92-8f1d-b55af308d3d4","block_type":"box","text":"-7.85","page_number":78,"box":{"x":513,"y":819,"width":34,"height":8}},{"id":"d620dfd3-c144-41f2-80d9-e0c67286ec2c","block_type":"box","text":"N/A","page_number":78,"box":{"x":626,"y":819,"width":23,"height":8}},{"id":"6e573eb1-0762-4306-84e1-056f75c7ca0d","block_type":"box","text":"N/A","page_number":78,"box":{"x":739,"y":819,"width":23,"height":8}},{"id":"b416b1a3-9820-4df1-ac18-b722cde01c77","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":79,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"0316f13b-fe84-4f0e-9306-1c402cc8111b","block_type":"box","text":"79","page_number":79,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"143d8d3a-658f-4296-94f8-aa7f3ed43bb9","block_type":"box","text":"Aviva Investors: Confidential","page_number":79,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"ae3e62ef-94f2-456e-b134-309c8aa4603d","block_type":"box","text":"Index – FTSE® All-Share","page_number":79,"box":{"x":72,"y":59,"width":196,"height":8}},{"id":"54036eca-600a-4111-bfbd-8e4c3ff26aaf","block_type":"box","text":"Total Return Index","page_number":79,"box":{"x":73,"y":71,"width":124,"height":8}},{"id":"056529b9-4014-42fd-a5db-214a55b8c957","block_type":"box","text":"N/A","page_number":79,"box":{"x":287,"y":59,"width":24,"height":8}},{"id":"28f0a9c7-38d2-4eee-9724-ddf46fa4ef7d","block_type":"box","text":"N/A","page_number":79,"box":{"x":400,"y":59,"width":24,"height":8}},{"id":"15f088f7-aacf-4e6a-99e1-e1ef34411baf","block_type":"box","text":"N/A","page_number":79,"box":{"x":513,"y":59,"width":24,"height":8}},{"id":"58b07aa4-9e07-4661-98f0-e6f3d816823a","block_type":"box","text":"18.3","page_number":79,"box":{"x":628,"y":59,"width":27,"height":8}},{"id":"15f446e2-aedc-4a4d-b486-93cb2508dc6e","block_type":"box","text":"-9.8","page_number":79,"box":{"x":739,"y":59,"width":25,"height":8}},{"id":"3734c464-98e7-4b3e-9759-bccae9aeb9be","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":80,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"ee2348ec-0bce-4851-9718-ded208d8c279","block_type":"box","text":"80","page_number":80,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"dd5beed1-3af9-4e42-a881-7d70481624ce","block_type":"box","text":"Aviva Investors: Confidential","page_number":80,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"0eb083f7-272f-4976-b243-a1fd3bd4488f","block_type":"box","text":"AI Stewardship Fixed Interest Fund","page_number":80,"box":{"x":62,"y":53,"width":279,"height":11}},{"id":"e4fbceb5-0f54-4d6a-b5d2-83332cbf80b7","block_type":"box","text":"#","page_number":80,"box":{"x":342,"y":52,"width":6,"height":5}},{"id":"ec0ed108-695e-49a8-a0bf-6a0cb75352dd","block_type":"box","text":"FCA product reference number: 658293","page_number":80,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"9e575d02-2e14-460b-845a-744d86d415e1","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":80,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"85ca52e0-803a-4d8b-9caa-588e787c0f26","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":80,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"977aa53c-20e3-4d80-b629-eb4211bcdb6c","block_type":"box","text":"This product does not have a UK sustainable investment label.","page_number":80,"box":{"x":62,"y":164,"width":509,"height":11}},{"id":"4c3f108b-e1fe-4dab-a132-6ce54ac27ed4","block_type":"box","text":"This is because – although the Sub-Fund has","page_number":80,"box":{"x":578,"y":164,"width":344,"height":11}},{"id":"b9dcfa15-e655-4ef9-aa9e-a156b2983192","block_type":"box","text":"sustainability characteristics - it does not currently meet the criteria for a label. Sustainable investment labels help","page_number":80,"box":{"x":62,"y":178,"width":861,"height":11}},{"id":"bf76e84f-1266-4763-909a-7d69b9fbb18e","block_type":"box","text":"investors find products that have a specific sustainability goal. They can be applied to funds with an explicit","page_number":80,"box":{"x":62,"y":191,"width":861,"height":12}},{"id":"3363a145-532a-4907-8cc5-adfa9743f564","block_type":"box","text":"sustainability objective that also meet other specific regulatory criteria for a UK sustainable investment label.","page_number":80,"box":{"x":62,"y":205,"width":800,"height":11}},{"id":"590ede32-f93d-4bf9-ae4f-e2af9517fefd","block_type":"box","text":"Investment Objectives","page_number":80,"box":{"x":62,"y":244,"width":177,"height":11}},{"id":"6d189fbd-5e53-4889-99ab-35c96d28fd23","block_type":"box","text":"The Sub-Fund aims, through the responsible allocation of capital, to provide a net return in excess of the Markit","page_number":80,"box":{"x":62,"y":264,"width":861,"height":11}},{"id":"8ce65748-8b9a-4e49-93d1-448a87db1a5d","block_type":"box","text":"iBoxx® GBP Non Gilt Total Return Index, annualised over rolling 5 year periods by investing in bonds issued by global","page_number":80,"box":{"x":62,"y":277,"width":860,"height":12}},{"id":"5f020b87-2220-4732-8d28-28b97185ff43","block_type":"box","text":"companies.","page_number":80,"box":{"x":62,"y":291,"width":84,"height":11}},{"id":"a5112da8-b3fd-45b7-b493-1b1b2eb11ff0","block_type":"box","text":"At least 75% of the Sub-Fund’s investments (the “","page_number":80,"box":{"x":62,"y":318,"width":363,"height":12}},{"id":"70dd5e4f-b494-4ad1-80af-2b4ba7265120","block_type":"box","text":"minimum stewardship allocation","page_number":80,"box":{"x":426,"y":319,"width":257,"height":11}},{"id":"68add67f-4454-4dd6-95f0-91b80984b59d","block_type":"box","text":"”) must contribute to one of three","page_number":80,"box":{"x":685,"y":318,"width":238,"height":12}},{"id":"d1e3af84-04fb-458e-a130-6bbd21967a20","block_type":"box","text":"pillars through their products and services or through their operations:","page_number":80,"box":{"x":62,"y":332,"width":515,"height":11}},{"id":"3a87db27-a438-4451-989a-b8780b8cde34","block_type":"box","text":"∙","page_number":80,"box":{"x":63,"y":363,"width":2,"height":1}},{"id":"1f761aa0-ec45-4bfc-a1f5-2d613a1e26d1","block_type":"box","text":"Climate","page_number":80,"box":{"x":71,"y":359,"width":60,"height":9}},{"id":"6bdb2fd6-5ff9-4d20-8d3a-a7918282b72f","block_type":"box","text":"- for example, tackling the causes or impacts of climate change;","page_number":80,"box":{"x":137,"y":359,"width":471,"height":12}},{"id":"4b0d2c20-3cf4-40c4-9be2-2585ebe231ef","block_type":"box","text":"∙","page_number":80,"box":{"x":63,"y":377,"width":2,"height":1}},{"id":"a8e9e4ff-a8db-426f-8031-28e125175d08","block_type":"box","text":"Earth","page_number":80,"box":{"x":72,"y":373,"width":40,"height":9}},{"id":"3fe9a975-09c4-441c-ba51-a4935830d254","block_type":"box","text":"- for example, tackling increasing biodiversity loss and resource scarcity;","page_number":80,"box":{"x":119,"y":373,"width":536,"height":11}},{"id":"0c85fb88-9d54-4ed2-a95d-d01804548bc1","block_type":"box","text":"∙","page_number":80,"box":{"x":63,"y":391,"width":2,"height":1}},{"id":"757fe8c5-1614-4b05-8914-b7e2efb045b0","block_type":"box","text":"People","page_number":80,"box":{"x":72,"y":387,"width":53,"height":11}},{"id":"527eb6a0-18ca-409b-b772-03864d3fecf7","block_type":"box","text":"- for example, tackling social inequality and unfair working practices.","page_number":80,"box":{"x":131,"y":387,"width":504,"height":11}},{"id":"107d7fa9-0aae-4b9c-9bd8-a088d5e51230","block_type":"box","text":"Further details on the Investment Manager’s proprietary investment framework are set out under “Sustainability","page_number":80,"box":{"x":63,"y":414,"width":860,"height":11}},{"id":"a59b0f2f-9eb8-45a4-a5ed-591bef04f593","block_type":"box","text":"Strategy” below.","page_number":80,"box":{"x":62,"y":428,"width":119,"height":11}},{"id":"415df246-7a66-4d70-b7ce-094a5fdd97f2","block_type":"box","text":"Investment Policy","page_number":80,"box":{"x":62,"y":469,"width":142,"height":11}},{"id":"7a775949-cc9f-4f9a-aee1-bdc34d8fbc54","block_type":"box","text":"Core investment:","page_number":80,"box":{"x":62,"y":488,"width":135,"height":9}},{"id":"85ccbe24-ecbb-444f-8d26-4dadb5801687","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in investment grade bonds issued by companies, governments or","page_number":80,"box":{"x":62,"y":508,"width":862,"height":11}},{"id":"67fd8e0e-7f56-402c-8677-86562acbcb7f","block_type":"box","text":"supranational organisations denominated in or hedged to Sterling.","page_number":80,"box":{"x":62,"y":522,"width":488,"height":11}},{"id":"12e014c4-ad65-447f-93b1-1cda6253af1e","block_type":"box","text":"Other investments:","page_number":80,"box":{"x":62,"y":541,"width":151,"height":9}},{"id":"b065d99d-7335-43e9-8c14-ba8cbb855703","block_type":"box","text":"The Sub-Fund may also invest in other bonds, shares of companies, other funds (including funds managed by Aviva","page_number":80,"box":{"x":62,"y":561,"width":861,"height":11}},{"id":"e345b51a-41cc-4a58-8b05-2a527535cad8","block_type":"box","text":"Investors companies), derivatives, cash and deposits.","page_number":80,"box":{"x":63,"y":574,"width":395,"height":12}},{"id":"99cef107-d466-4b01-b437-e4f49740e9f5","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":80,"box":{"x":63,"y":594,"width":860,"height":11}},{"id":"3c3e7ab5-11e4-44be-9325-5fe7a663822c","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":80,"box":{"x":62,"y":608,"width":861,"height":11}},{"id":"bf213059-f114-495e-abee-0106a5ae588d","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":80,"box":{"x":62,"y":621,"width":545,"height":12}},{"id":"45d66148-3a06-49f4-abf0-bb2ae51df25a","block_type":"box","text":"Exclusions:","page_number":80,"box":{"x":63,"y":641,"width":91,"height":9}},{"id":"5bc2fe7e-157f-445b-965e-146e879c375b","block_type":"box","text":"The Sub-Fund is subject to two sets of screens, the Aviva Investors’ baseline exclusion policy and the","page_number":80,"box":{"x":62,"y":660,"width":758,"height":12}},{"id":"d26b86c6-2633-40d4-8b47-47b52bb05cae","block_type":"box","text":"stewardship","page_number":80,"box":{"x":826,"y":661,"width":97,"height":11}},{"id":"2f69bae9-efcb-43a0-84a7-519a1e3ac58f","block_type":"box","text":"exclusions,","page_number":80,"box":{"x":62,"y":674,"width":90,"height":11}},{"id":"d2b69e1a-9bdb-463e-894b-15f3670ce4fd","block_type":"box","text":"which exclude companies that do not meet certain ethical, social and environmental standards, so that","page_number":80,"box":{"x":158,"y":674,"width":765,"height":11}},{"id":"27179388-4445-479a-b4bd-9dd40230fac8","block_type":"box","text":"the Sub-Fund does not invest in companies that the Investment Manager regards as incompatible with the three pillars","page_number":80,"box":{"x":62,"y":688,"width":860,"height":11}},{"id":"6bbfb32e-f98b-4355-80e4-cb02d17585c7","block_type":"box","text":"of Climate, People and Earth. The purpose of these exclusions is to ensure that the Sub-Fund does not invest in","page_number":80,"box":{"x":62,"y":701,"width":860,"height":12}},{"id":"22552ae3-7e31-41d2-bb8b-a7152f7626d6","block_type":"box","text":"companies that derive prescribed levels of revenue from a range of activities, including certain fossil fuel (thermal","page_number":80,"box":{"x":62,"y":715,"width":860,"height":11}},{"id":"577429c4-1cd5-4184-9644-c4d533f14fef","block_type":"box","text":"coal, oil and gas) activities, or companies that have significant reserves of certain fossil fuels, activities that are not","page_number":80,"box":{"x":62,"y":729,"width":861,"height":11}},{"id":"7d2ca96c-bdff-4989-8636-bd03c859b489","block_type":"box","text":"compatible with animal welfare, or certain activities connected to alcohol and gambling, genetic modification and adult","page_number":80,"box":{"x":62,"y":743,"width":861,"height":11}},{"id":"d81a1834-654c-437d-bfb1-8d3218e88364","block_type":"box","text":"entertainment -","page_number":80,"box":{"x":62,"y":756,"width":111,"height":9}},{"id":"31a28fe2-f7b3-465b-b7cc-4d70bf3ff4bc","block_type":"box","text":"please see Appendices 2 and 3 for information on these investment restrictions","page_number":80,"box":{"x":180,"y":756,"width":633,"height":11}},{"id":"976ebb5f-6909-4b16-a0ec-2563df1eea90","block_type":"box","text":".","page_number":80,"box":{"x":815,"y":764,"width":2,"height":1}},{"id":"e4d4d252-24d3-4884-81bd-f5930c802451","block_type":"box","text":"If there are any differences between the baseline exclusion policy and the stewardship exclusions, the more restrictive","page_number":80,"box":{"x":63,"y":776,"width":860,"height":11}},{"id":"b1b91353-d63e-43f7-966b-abf1564d61b9","block_type":"box","text":"exclusions will apply. As these screens only exclude shares issued by companies, this screening process is not","page_number":80,"box":{"x":62,"y":790,"width":861,"height":11}},{"id":"3c54dbb9-b78b-4789-af24-f28eb24a27ea","block_type":"box","text":"applied to other investments, for example cash, government bonds and certain derivatives.","page_number":80,"box":{"x":62,"y":803,"width":671,"height":11}},{"id":"a83cb156-7cb3-42c7-9832-a2bee0512f68","block_type":"box","text":"The Sub-Fund can invest in Green, Social, or Sustainability (","page_number":80,"box":{"x":62,"y":823,"width":440,"height":11}},{"id":"8fb46ef8-8b5f-4b4a-bdac-49c684961796","block_type":"box","text":"GSS","page_number":80,"box":{"x":504,"y":823,"width":34,"height":8}},{"id":"66f610b5-0865-4b5d-abc7-2df5ecb8a61c","block_type":"box","text":") bonds (see “Sustainability Strategy” below for more","page_number":80,"box":{"x":539,"y":823,"width":384,"height":11}},{"id":"eef41bb2-d5cf-48b1-8999-d14e5e09081e","block_type":"box","text":"detail on GSS bonds) issued by otherwise excluded issuers where there is strong evidence that the proceeds from","page_number":80,"box":{"x":62,"y":836,"width":860,"height":12}},{"id":"ac6c8733-323e-4b4d-9275-f196cf26e1ea","block_type":"box","text":"the GSS bond are intended for projects or initiatives with positive environmental, social, or sustainability benefits, and","page_number":80,"box":{"x":62,"y":850,"width":860,"height":11}},{"id":"8f2deac8-8339-476d-871d-c21ef6a5478f","block_type":"box","text":"the use of proceeds for that GSS bond meets the requirements of the Investment Manager’s Sustainability Strategy","page_number":80,"box":{"x":62,"y":864,"width":861,"height":11}},{"id":"d6caaf5f-d2f0-4cf0-9d6a-79e3a84098e2","block_type":"box","text":"(see below).","page_number":80,"box":{"x":63,"y":877,"width":88,"height":11}},{"id":"35287646-6e34-4a24-9b90-0821b4b90ac9","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":81,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"d110fc9e-513e-4bde-b441-37918749ae91","block_type":"box","text":"81","page_number":81,"box":{"x":787,"y":940,"width":10,"height":6}},{"id":"ff28723e-96d0-4441-a789-e6f2c19bb466","block_type":"box","text":"Aviva Investors: Confidential","page_number":81,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"411ca965-689b-4f68-a66d-f518471c4553","block_type":"box","text":"Investment Strategy and Asset Selection:","page_number":81,"box":{"x":62,"y":53,"width":328,"height":11}},{"id":"6f4f129c-03fc-46eb-9e2d-15f9b5779a7b","block_type":"box","text":"The Sub-Fund is actively managed by the Investment Manager, using a long-term outlook to select investments whilst","page_number":81,"box":{"x":62,"y":72,"width":861,"height":11}},{"id":"dbd6e760-21fa-41b0-8b08-b930b520f439","block_type":"box","text":"looking to deliver optimum risk-adjusted returns. The Investment Manager aims through the responsible allocation of","page_number":81,"box":{"x":62,"y":86,"width":861,"height":11}},{"id":"7c439746-6ce2-48c9-846f-3664742add30","block_type":"box","text":"capital (stewardship) to encourage companies to improve environmental and/or social outcomes through their","page_number":81,"box":{"x":62,"y":99,"width":861,"height":12}},{"id":"7ee62df7-63bc-4358-b4b2-0fb73a99d848","block_type":"box","text":"products and services, and/or through their operations.","page_number":81,"box":{"x":62,"y":113,"width":405,"height":11}},{"id":"9efe45af-234f-4830-ac9f-6a4e752b85a7","block_type":"box","text":"Once any excluded companies have been removed from the available investment universe (see above), the Sub","page_number":81,"box":{"x":62,"y":133,"width":860,"height":11}},{"id":"8de48654-ed6f-4d82-8045-1bdf0ff60230","block_type":"box","text":"Fund must invest in its minimum stewardship allocation. To be eligible for investment, the company must meet the","page_number":81,"box":{"x":63,"y":146,"width":860,"height":12}},{"id":"1ecde401-6a0d-4e5c-82cc-9a298971530a","block_type":"box","text":"Fund’s qualifying criteria through either the company’s:","page_number":81,"box":{"x":63,"y":160,"width":404,"height":11}},{"id":"d87951de-ffac-40bd-9716-1e2941699040","block_type":"box","text":"","page_number":81,"box":{"x":92,"y":184,"width":6,"height":4}},{"id":"2ecbf2ec-093d-4954-8709-01f16ec5b664","block_type":"box","text":"Products and Services -","page_number":81,"box":{"x":110,"y":180,"width":190,"height":9}},{"id":"a60f689c-3ee8-4e5b-995f-7ef60d20e52d","block_type":"box","text":"consideration will be given to the revenue a company generates from products and","page_number":81,"box":{"x":306,"y":180,"width":616,"height":12}},{"id":"7f3d9579-5449-467c-b66b-b51d094c924f","block_type":"box","text":"services that are linked to investment themes that fall under one or more of the three pillars.","page_number":81,"box":{"x":122,"y":194,"width":679,"height":11}},{"id":"c0a2f46c-f29e-4392-9e62-6207f8acec6e","block_type":"box","text":"","page_number":81,"box":{"x":92,"y":218,"width":6,"height":4}},{"id":"05e76a91-aa4f-4a40-b3b9-13c924642cfa","block_type":"box","text":"Operations –","page_number":81,"box":{"x":110,"y":215,"width":102,"height":11}},{"id":"06a5095b-100d-445e-b0fc-9d26db4a53a8","block_type":"box","text":"consideration is given to the sustainability practices of a company’s operations. The Investment","page_number":81,"box":{"x":217,"y":215,"width":706,"height":11}},{"id":"fd8f168c-9779-4e65-bd19-338a5586d525","block_type":"box","text":"Manager may look at a range of factors to assess a company’s operations against investment themes linked","page_number":81,"box":{"x":123,"y":228,"width":799,"height":11}},{"id":"73d29fe0-e631-4818-9fe5-387edeb3fd9c","block_type":"box","text":"to the three pillars, including (for example) its governance commitments, policies and actions to manage","page_number":81,"box":{"x":122,"y":242,"width":801,"height":11}},{"id":"1a806ca2-54a0-442a-83ef-2a00771fde79","block_type":"box","text":"social and environmental issues, and performance compared to peers.","page_number":81,"box":{"x":122,"y":255,"width":522,"height":11}},{"id":"5fd0f055-faa7-4d07-8696-d43f6738d1fc","block_type":"box","text":"As noted above, a GSS bond may also be included in the Fund’s minimum stewardship allocation.","page_number":81,"box":{"x":62,"y":275,"width":819,"height":11}},{"id":"c47bf5ab-1569-4276-8df8-ad6d2faeeee9","block_type":"box","text":"See","page_number":81,"box":{"x":894,"y":275,"width":29,"height":9}},{"id":"b07183cb-8cfe-467f-915b-43973dc1530a","block_type":"box","text":"“Sustainability Strategy” below for how the minimum stewardship allocation is achieved","page_number":81,"box":{"x":62,"y":289,"width":704,"height":11}},{"id":"6b0dc0ee-12e6-42d5-ab1a-183e026abbc5","block_type":"box","text":".","page_number":81,"box":{"x":769,"y":296,"width":1,"height":1}},{"id":"33cbf178-0f1b-4d2b-a9ba-f423c9ce1027","block_type":"box","text":"Outside of its minimum sustainable allocation, up to 25% of the portfolio may be in investments that do not meet","page_number":81,"box":{"x":62,"y":309,"width":843,"height":12}},{"id":"eb2a79d8-87ec-4782-8a6e-f4e0510a51f2","block_type":"box","text":"the standards required by the Investment Manager’s investment framework; the Investment Manager refers to these","page_number":81,"box":{"x":62,"y":323,"width":843,"height":11}},{"id":"e3522d4b-7c94-436b-bfb9-0b5152998961","block_type":"box","text":"as “neutral” assets. Neutral assets include investments where the Investment Manager determines that the issuing","page_number":81,"box":{"x":62,"y":337,"width":843,"height":11}},{"id":"6b6d9734-104f-4ebb-bfc4-55263d107a9e","block_type":"box","text":"company has an overall neutral alignment to the three pillars (see “Sustainability Strategy” below), the nature of","page_number":81,"box":{"x":62,"y":350,"width":844,"height":12}},{"id":"7ef50821-5a99-46c6-b979-63c5a77fe084","block_type":"box","text":"the asset is such that the sustainability characteristics of the asset are not possible to assess (for example, cash,","page_number":81,"box":{"x":62,"y":364,"width":843,"height":11}},{"id":"e89f5c03-301f-4fa3-bce4-21a3e4355bbd","block_type":"box","text":"third party funds and derivatives) or where there is not sufficient sustainability data available to determine if that","page_number":81,"box":{"x":62,"y":378,"width":843,"height":11}},{"id":"6d6f7fad-19b2-4e5e-a32e-831d1aa5ec31","block_type":"box","text":"investment is positively aligned to the SDGs if that investment meets the Investment Manager’s criteria (for","page_number":81,"box":{"x":62,"y":391,"width":844,"height":12}},{"id":"dd7268a0-8863-4a1f-bf9f-515db3035f4b","block_type":"box","text":"example, government bonds that are not GSS bonds).","page_number":81,"box":{"x":62,"y":405,"width":400,"height":11}},{"id":"ed02d00c-3961-41d8-bad7-83b0f262d0cd","block_type":"box","text":"The Sub-Fund may hold such neutral assets in order to support the financial objectives of the Sub-Fund, for liquidity","page_number":81,"box":{"x":62,"y":426,"width":843,"height":11}},{"id":"98f574ae-1f4c-48d6-9e0f-8f24d2243a68","block_type":"box","text":"purposes and for efficient portfolio management purposes.","page_number":81,"box":{"x":62,"y":440,"width":432,"height":11}},{"id":"5582c275-ea6e-4140-b4d8-06345cd7a89a","block_type":"box","text":"The Sub-Fund’s minimum stewardship allocation will be reviewed on an ongoing basis against a range of key","page_number":81,"box":{"x":62,"y":459,"width":861,"height":11}},{"id":"882539e9-e804-414e-b245-794390062c41","block_type":"box","text":"performance indicators (KPIs) to ensure that they remain compliant with the Investment Manager’s investment","page_number":81,"box":{"x":62,"y":473,"width":861,"height":11}},{"id":"bd6fc00d-d990-440f-b25e-32036ed5d06b","block_type":"box","text":"framework - please see “Sustainability Strategy” below for further information.","page_number":81,"box":{"x":62,"y":486,"width":573,"height":12}},{"id":"03e0d507-102d-4606-b702-8044123219d1","block_type":"box","text":"Performance & Risk Strategy","page_number":81,"box":{"x":63,"y":506,"width":230,"height":11}},{"id":"e7ad4337-28b8-4faa-b57d-53d182057a68","block_type":"box","text":":","page_number":81,"box":{"x":294,"y":508,"width":2,"height":7}},{"id":"6ab80ae0-99f4-46c7-b24b-dc1d48832e6e","block_type":"box","text":"The Sub-Fund's performance is measured against the Markit iBoxx® GBP Non Gilt Total Return Index (the “Index”)","page_number":81,"box":{"x":62,"y":526,"width":849,"height":11}},{"id":"352d48a5-b757-4950-ad54-1e40f1563ea9","block_type":"box","text":"□","page_number":81,"box":{"x":913,"y":527,"width":5,"height":4}},{"id":"20a3c581-e523-41b6-8e1e-7a2ac929d382","block_type":"box","text":".","page_number":81,"box":{"x":920,"y":533,"width":2,"height":1}},{"id":"90f8ae54-cd59-4212-83da-c0c683661e5e","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index (applying specific exclusions, and the minimum","page_number":81,"box":{"x":62,"y":545,"width":860,"height":11}},{"id":"4049382f-4aff-463c-889a-61dafadcb93d","block_type":"box","text":"stewardship allocation requirement, that do not apply to the Index), which is only a representation of the investment","page_number":81,"box":{"x":62,"y":559,"width":861,"height":11}},{"id":"9956f4bc-c792-4906-bf58-d67e1bebdcb2","block_type":"box","text":"universe, therefore the Sub-Fund will hold bonds that are not part of the Index, and will only hold a relatively small","page_number":81,"box":{"x":63,"y":572,"width":859,"height":12}},{"id":"35aba5a7-e38c-4212-b692-113a5b4cf5d3","block_type":"box","text":"proportion of bonds relative to the number in the Index.","page_number":81,"box":{"x":62,"y":586,"width":406,"height":11}},{"id":"141c3a56-3cde-42a0-ad2c-3c9d0317b9de","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":81,"box":{"x":62,"y":606,"width":861,"height":11}},{"id":"4c096847-7cef-46c5-a91c-67fb388317aa","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":81,"box":{"x":63,"y":619,"width":859,"height":12}},{"id":"bedc27f7-354d-425a-87ff-599c2b9d21b0","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 0% and 3% when","page_number":81,"box":{"x":62,"y":633,"width":860,"height":11}},{"id":"7602284f-0424-4b53-9862-b811f3d145dd","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":81,"box":{"x":62,"y":647,"width":650,"height":11}},{"id":"1785db78-4152-4336-8945-4ea9c3c4cc07","block_type":"box","text":"The Index represents the performance of broad range of investment grade bonds issued by companies and","page_number":81,"box":{"x":62,"y":666,"width":860,"height":11}},{"id":"02e0086f-6630-44e6-a7b9-7ceae3fb7b33","block_type":"box","text":"denominated in Sterling, with a date to maturity exceeding 1 year, but excludes government bonds.","page_number":81,"box":{"x":62,"y":680,"width":733,"height":11}},{"id":"6463b154-605d-407d-967f-07f3775bc81e","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":81,"box":{"x":62,"y":699,"width":861,"height":12}},{"id":"e6332713-5370-4d11-8cd9-279cc04ce2b1","block_type":"box","text":"the type of bonds in which the Sub-Fund is likely to invest, although investors should be aware that due to the Sub","page_number":81,"box":{"x":62,"y":713,"width":860,"height":11}},{"id":"e838df57-b06d-4a88-a1bd-42a5504d16d0","block_type":"box","text":"Fund’s specific exclusions the Index is not an accurate representation of all of the companies available to the Sub","page_number":81,"box":{"x":63,"y":727,"width":859,"height":11}},{"id":"6068b16a-58e7-41a0-9b68-006c80765c57","block_type":"box","text":"Fund. It is, however, an appropriate measure for the Sub-Fund’s performance.","page_number":81,"box":{"x":63,"y":740,"width":578,"height":12}},{"id":"5ae11e8e-a342-4d03-820b-529f964552e3","block_type":"box","text":"The Sub-Fund’s Sustainability Strategy","page_number":81,"box":{"x":62,"y":780,"width":312,"height":11}},{"id":"7b57c8ef-bc38-4f95-8e36-7a7b3162de27","block_type":"box","text":"The Investment Manager’s investment framework requires an asset to contribute to one of three pillars, being Climate,","page_number":81,"box":{"x":62,"y":799,"width":860,"height":11}},{"id":"021be0ad-1593-47f6-9c31-41ba1edbc093","block_type":"box","text":"Earth and People. These pillars have been developed to encapsulate the aims of the United Nations’ Sustainable","page_number":81,"box":{"x":63,"y":813,"width":860,"height":11}},{"id":"2892a22c-f0b6-4976-92e7-4bc4438ed114","block_type":"box","text":"Development Goals (","page_number":81,"box":{"x":63,"y":827,"width":166,"height":11}},{"id":"a266e59f-26a1-4a13-9b31-9fc28042130d","block_type":"box","text":"SDGs","page_number":81,"box":{"x":231,"y":827,"width":44,"height":8}},{"id":"c3f6753e-2d88-4fd0-bc22-e694a656f65c","block_type":"box","text":"), which the Investment Manager believes provide a global consensus on major","page_number":81,"box":{"x":276,"y":827,"width":647,"height":11}},{"id":"e7d61964-a976-4dcb-9007-88efcf977eea","block_type":"box","text":"developmental challenges facing the world and on what activities or behaviours can (or can’t) be categorised as","page_number":81,"box":{"x":62,"y":840,"width":860,"height":11}},{"id":"67dcc636-a6d9-42f2-8126-c21ce6a8f821","block_type":"box","text":"“sustainable”.","page_number":81,"box":{"x":62,"y":854,"width":99,"height":9}},{"id":"f69f03b6-6cd8-47de-bbde-1776fe9587f7","block_type":"box","text":"Following the exclusion of companies by the stewardship exclusions (as described above), to determine if an asset","page_number":81,"box":{"x":63,"y":873,"width":860,"height":12}},{"id":"afd9748b-1b58-401b-9547-f9b350a76473","block_type":"box","text":"is eligible for the Sub-Fund’s minimum stewardship allocation, the Investment Manager conducts a “deep dive","page_number":81,"box":{"x":62,"y":887,"width":861,"height":11}},{"id":"2a6e7c5b-f194-419e-b920-303ac610341e","block_type":"box","text":"assessment” to see if the issuer meets the Sub-Fund’s qualifying criteria through either the issuer’s:","page_number":81,"box":{"x":62,"y":901,"width":736,"height":11}},{"id":"22388f10-a7e2-4439-b136-48757d5ca935","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":82,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"e092d96e-9e14-4539-a02e-73ba145ddab0","block_type":"box","text":"82","page_number":82,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"d0105c7a-1b0c-4c34-a01d-5dc404ac2750","block_type":"box","text":"Aviva Investors: Confidential","page_number":82,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"690cc08a-7627-41ee-82d0-f623a4733542","block_type":"box","text":"","page_number":82,"box":{"x":92,"y":57,"width":6,"height":4}},{"id":"df899fa7-627d-4a06-8e8d-a05de4479d42","block_type":"box","text":"Products and Services,","page_number":82,"box":{"x":123,"y":53,"width":186,"height":11}},{"id":"fa8ae079-06b3-4f20-8939-d1f0ad9949f0","block_type":"box","text":"looking at","page_number":82,"box":{"x":317,"y":54,"width":71,"height":11}},{"id":"6056ef1d-4d72-4350-9924-35a4871e86a2","block_type":"box","text":"the revenues that companies generate through products and services,","page_number":82,"box":{"x":394,"y":54,"width":528,"height":11}},{"id":"94033276-e606-400f-9d8e-3d4d797ff34e","block_type":"box","text":"consideration will be given to the revenue a company generates from products and services in business","page_number":82,"box":{"x":123,"y":67,"width":800,"height":11}},{"id":"577344c5-0c92-4b8b-81e9-6123a0a2fe99","block_type":"box","text":"segments that are linked to investment themes that fall under one or more of the three pillars.","page_number":82,"box":{"x":122,"y":81,"width":690,"height":11}},{"id":"25d8b1e4-ea8a-41d0-86b7-1a44b40e14b3","block_type":"box","text":"","page_number":82,"box":{"x":92,"y":112,"width":6,"height":4}},{"id":"ea5cd4c9-de33-4181-a255-57b10d1c0dab","block_type":"box","text":"Operations,","page_number":82,"box":{"x":123,"y":109,"width":91,"height":11}},{"id":"db0a0904-7b77-42cc-999a-cc79a884961e","block_type":"box","text":"considering the sustainability practices of a company’s operations, the Investment Manager may","page_number":82,"box":{"x":220,"y":109,"width":703,"height":11}},{"id":"96df7ebe-1a29-461c-a252-c3474e0daccf","block_type":"box","text":"look at a range of factors to assess a company’s operations against investment themes linked to the three","page_number":82,"box":{"x":123,"y":122,"width":800,"height":12}},{"id":"34fd2897-fc04-440b-8fdb-3dd7d0108181","block_type":"box","text":"pillars, including (for example) its governance commitments, policies and actions to manage social and","page_number":82,"box":{"x":123,"y":136,"width":799,"height":11}},{"id":"f90a1c50-3e5c-45fb-a9d2-48d56ebb4700","block_type":"box","text":"environmental issues, and performance compared to peers.","page_number":82,"box":{"x":123,"y":150,"width":441,"height":11}},{"id":"92bad2fe-8b6a-426f-9504-36c6b7cdd155","block_type":"box","text":"Assets may qualify for investment where the issuer, either through their products and services or through their","page_number":82,"box":{"x":62,"y":177,"width":861,"height":11}},{"id":"d22c68d1-be82-4f1b-a982-e74fea75cb82","block_type":"box","text":"operations, is aligned to investment themes tied to one of the three pillars of Climate, Earth or People, and","page_number":82,"box":{"x":62,"y":191,"width":860,"height":11}},{"id":"f95a63b6-8162-403b-96e0-e9d15cd3b06e","block_type":"box","text":"consequently to the associated UN SDGs:","page_number":82,"box":{"x":62,"y":204,"width":312,"height":12}},{"id":"9b0167a5-e3dd-4017-a036-dcabb1762096","block_type":"box","text":"Products and Services","page_number":82,"box":{"x":63,"y":231,"width":166,"height":9}},{"id":"9e539cc3-fa68-4123-a2ae-1d7700cce97d","block_type":"box","text":"Pillar","page_number":82,"box":{"x":64,"y":262,"width":37,"height":8}},{"id":"a29fe869-a4ae-44b1-9860-139ec771915d","block_type":"box","text":"Investment themes","page_number":82,"box":{"x":122,"y":262,"width":137,"height":8}},{"id":"bcea61ff-b3fe-48ac-8a20-31c79045f08a","block_type":"box","text":"Theme relevance","page_number":82,"box":{"x":298,"y":262,"width":122,"height":8}},{"id":"023d980b-5314-4389-b499-3eb69b28cb93","block_type":"box","text":"Relevant SDG","page_number":82,"box":{"x":671,"y":262,"width":99,"height":8}},{"id":"aa64f9b0-0d53-4c4e-9624-8e42fbda2471","block_type":"box","text":"§","page_number":82,"box":{"x":770,"y":261,"width":5,"height":7}},{"id":"f805f1ce-0558-44ef-bd82-f27d86782d0c","block_type":"box","text":"Climate","page_number":82,"box":{"x":63,"y":420,"width":54,"height":9}},{"id":"99688596-9e32-4ccd-b2db-8eed78c7ff54","block_type":"box","text":"Sustainable/Alternative","page_number":82,"box":{"x":122,"y":277,"width":166,"height":8}},{"id":"9bab8389-a09c-40b8-9c27-57e7028e5359","block_type":"box","text":"energy","page_number":82,"box":{"x":122,"y":292,"width":49,"height":8}},{"id":"364cdaa5-b9ae-4b5a-993d-5bba67723422","block_type":"box","text":"Sustainable energy and electrification are key","page_number":82,"box":{"x":297,"y":277,"width":371,"height":10}},{"id":"71426788-e8b8-4481-bad1-313d0aa2dafc","block_type":"box","text":"components of SDG 7, which aims to ensure access to","page_number":82,"box":{"x":297,"y":290,"width":371,"height":10}},{"id":"dd7c5657-f397-471e-b76e-648ccc0f621e","block_type":"box","text":"affordable, reliable, sustainable, and modern energy for","page_number":82,"box":{"x":297,"y":302,"width":371,"height":10}},{"id":"eb34251b-1e43-432e-aa5e-3808232cc766","block_type":"box","text":"all.","page_number":82,"box":{"x":297,"y":314,"width":17,"height":8}},{"id":"92cd0df0-ab96-478e-a387-746ac38e41bb","block_type":"box","text":"7 –","page_number":82,"box":{"x":670,"y":278,"width":26,"height":7}},{"id":"1f9ac999-674e-4307-912c-4d39f3b6cf6b","block_type":"box","text":"Affordable and","page_number":82,"box":{"x":706,"y":277,"width":112,"height":8}},{"id":"8f1afbfa-458e-4538-a482-d68e92e94748","block_type":"box","text":"Clean Energy","page_number":82,"box":{"x":670,"y":290,"width":96,"height":10}},{"id":"6584341f-1e50-4160-8ef3-3f226b2e23b6","block_type":"box","text":"Electrification","page_number":82,"box":{"x":123,"y":303,"width":98,"height":8}},{"id":"f2ebd812-25d5-493f-8e62-27a0c3a34309","block_type":"box","text":"Sustainable Buildings","page_number":82,"box":{"x":122,"y":327,"width":172,"height":11}},{"id":"89515683-f0be-4c60-8732-ca8c74aecfff","block_type":"box","text":"and Infrastructure","page_number":82,"box":{"x":122,"y":340,"width":129,"height":8}},{"id":"fedb6510-c193-4a64-b70c-ea66f37138dd","block_type":"box","text":"Sustainable building, as part of the broader Sustainable","page_number":82,"box":{"x":297,"y":327,"width":371,"height":11}},{"id":"81591205-2a35-43d6-bec5-4278a66dd15c","block_type":"box","text":"Urbanisation, is a crucial aspect of achieving several","page_number":82,"box":{"x":297,"y":340,"width":370,"height":10}},{"id":"9cb46196-f105-424e-82bb-73abf7a35f44","block_type":"box","text":"SDGs, but particularly SDGs 9 and 11, which focus on","page_number":82,"box":{"x":297,"y":352,"width":370,"height":10}},{"id":"b9c0bff8-ea39-4b43-a4d4-ef237076eb4d","block_type":"box","text":"making cities and human settlements inclusive, safe,","page_number":82,"box":{"x":297,"y":364,"width":370,"height":10}},{"id":"325dfccd-f808-46fb-acf7-e3c9d05b4288","block_type":"box","text":"resilient, and sustainable.","page_number":82,"box":{"x":297,"y":377,"width":168,"height":9}},{"id":"2272a86f-144a-4284-b807-1780d9091a5f","block_type":"box","text":"9 –","page_number":82,"box":{"x":670,"y":328,"width":50,"height":7}},{"id":"f05b20c7-e64b-434c-97dc-0d20e16c2fbf","block_type":"box","text":"Industry,","page_number":82,"box":{"x":755,"y":328,"width":63,"height":10}},{"id":"6e95e93f-db85-4ecf-8712-5ea47fe69679","block_type":"box","text":"Innovation and","page_number":82,"box":{"x":670,"y":340,"width":148,"height":8}},{"id":"427ee326-1eeb-41a2-91fe-db98a7902542","block_type":"box","text":"infrastructure","page_number":82,"box":{"x":670,"y":352,"width":98,"height":8}},{"id":"0717e7e6-8280-4d4f-bc9a-d133ea7c8464","block_type":"box","text":"11 –","page_number":82,"box":{"x":670,"y":377,"width":44,"height":7}},{"id":"42a5ae77-3d4b-4580-a82e-f23075584d4b","block_type":"box","text":"Sustainable","page_number":82,"box":{"x":734,"y":377,"width":84,"height":8}},{"id":"1b780288-f413-478d-895e-37ec94f2ae74","block_type":"box","text":"Cities and","page_number":82,"box":{"x":670,"y":389,"width":148,"height":8}},{"id":"41c8dc00-284a-4836-afab-970fcf28728a","block_type":"box","text":"Communities","page_number":82,"box":{"x":670,"y":401,"width":95,"height":8}},{"id":"6dfaff34-e681-404b-948e-49f9eab8fbf0","block_type":"box","text":"Sustainable transport","page_number":82,"box":{"x":122,"y":390,"width":155,"height":10}},{"id":"c653b26c-bfb2-4eae-8aa1-c5e7611e8d9d","block_type":"box","text":"Sustainable transport aims to provide universal access,","page_number":82,"box":{"x":297,"y":390,"width":370,"height":10}},{"id":"8bcbf30b-cb29-49c7-ae10-44c5b6c7ee9f","block_type":"box","text":"enhance safety, reduce environmental impact, improve","page_number":82,"box":{"x":297,"y":402,"width":371,"height":10}},{"id":"ad2eaec7-e49b-4f60-9f62-fb2e38d1e998","block_type":"box","text":"resilience, and increase efficiency. It is integrated across","page_number":82,"box":{"x":297,"y":414,"width":371,"height":11}},{"id":"51b14e02-68de-4b91-b045-ac3bab1ffcee","block_type":"box","text":"several goals and targets but has been captured in the","page_number":82,"box":{"x":297,"y":427,"width":371,"height":10}},{"id":"fc3b4b79-81ca-4844-ab37-e0d3890b2540","block_type":"box","text":"Climate pillar due to its impor","page_number":82,"box":{"x":297,"y":439,"width":195,"height":10}},{"id":"26071234-531e-469e-8950-1910c240a3a8","block_type":"box","text":"tance in decarbonising the","page_number":82,"box":{"x":492,"y":439,"width":176,"height":10}},{"id":"d7d42714-6fdd-4dc4-aad3-38b1f8d778fb","block_type":"box","text":"economy.","page_number":82,"box":{"x":297,"y":453,"width":63,"height":8}},{"id":"dd4e315f-0cdc-414e-895d-fdb250f3203f","block_type":"box","text":"Sustainable tourism","page_number":82,"box":{"x":122,"y":464,"width":143,"height":8}},{"id":"b71f793e-6953-434c-b196-00105452d663","block_type":"box","text":"Sustainable tourism is specifically highlighted in several","page_number":82,"box":{"x":297,"y":464,"width":370,"height":11}},{"id":"3d4e3df4-2579-4eee-ab03-8a1b37a17bea","block_type":"box","text":"goals as sustainable tourism seeks to balance the needs","page_number":82,"box":{"x":297,"y":477,"width":371,"height":10}},{"id":"65c331ec-c25c-42a2-9674-bc7239e0b5c8","block_type":"box","text":"of visitors, the industry, the environment, and host","page_number":82,"box":{"x":297,"y":489,"width":371,"height":10}},{"id":"5b24d16b-6c41-41f5-9e49-55a96cf33fce","block_type":"box","text":"communities.","page_number":82,"box":{"x":297,"y":501,"width":87,"height":8}},{"id":"5710f88c-3f59-4625-a20e-863c64f8a7b6","block_type":"box","text":"As the investment theme is specifically","page_number":82,"box":{"x":394,"y":501,"width":274,"height":10}},{"id":"eaa4d721-c4f0-4610-86e3-17f07c94f97f","block_type":"box","text":"focussed on reducing the impact on","page_number":82,"box":{"x":296,"y":514,"width":248,"height":10}},{"id":"c67db706-ceba-4958-8897-0501d78e7fe0","block_type":"box","text":"climate change it","page_number":82,"box":{"x":551,"y":514,"width":117,"height":10}},{"id":"f226073a-abd9-4de3-96af-965f0e9c7096","block_type":"box","text":"has been captured in the Climate pillar.","page_number":82,"box":{"x":297,"y":526,"width":260,"height":10}},{"id":"7993da54-0f4e-4cdd-b24c-cb926dc521f8","block_type":"box","text":"Disaster risk reduction","page_number":82,"box":{"x":123,"y":539,"width":171,"height":8}},{"id":"1b043cc3-2325-4c83-a259-cb5a54376f5a","block_type":"box","text":"and resilience","page_number":82,"box":{"x":122,"y":551,"width":100,"height":8}},{"id":"dd9d46be-de3a-4d9c-a4eb-64b57ab0386e","block_type":"box","text":"Disaster risk reduction (DRR) is integrated across","page_number":82,"box":{"x":297,"y":539,"width":371,"height":10}},{"id":"f874af85-cad3-4680-9300-bbc516422c8d","block_type":"box","text":"multiple goals and targets. As the impacts of climate","page_number":82,"box":{"x":297,"y":551,"width":371,"height":11}},{"id":"8268ec08-c9f2-4e33-afef-a633d471a93e","block_type":"box","text":"change significantly increase the need for resilience,","page_number":82,"box":{"x":297,"y":564,"width":370,"height":10}},{"id":"421537f4-ee72-4b56-a033-5b777ef08ac9","block_type":"box","text":"DRR has been captured in the Climate pillar.","page_number":82,"box":{"x":297,"y":576,"width":297,"height":10}},{"id":"30b7f17f-ac22-4057-aebf-04e0037aa52c","block_type":"box","text":"Earth","page_number":82,"box":{"x":64,"y":683,"width":36,"height":8}},{"id":"aec8cf94-8c4e-40f2-a211-317f2d4c90b7","block_type":"box","text":"Sustainable water","page_number":82,"box":{"x":122,"y":589,"width":173,"height":8}},{"id":"759ecfae-bad0-4347-8685-8016dc811bac","block_type":"box","text":"services","page_number":82,"box":{"x":122,"y":601,"width":60,"height":8}},{"id":"0fd59edf-1449-4f1a-822c-4f5f95dde044","block_type":"box","text":"Water services and sanitation are a critical focus of the","page_number":82,"box":{"x":296,"y":589,"width":372,"height":8}},{"id":"be807573-d88c-425e-a4fd-fa90ea48a5dc","block_type":"box","text":"SDGs, particularly under SDG 6. This goal aims to","page_number":82,"box":{"x":297,"y":601,"width":371,"height":11}},{"id":"e953f79f-2ac2-46be-b99d-a21d91c24683","block_type":"box","text":"ensure availability and sustainable management of","page_number":82,"box":{"x":297,"y":614,"width":371,"height":10}},{"id":"a82662d8-83f9-4d55-a5a2-5adf7b20fc6b","block_type":"box","text":"water and sanitation for all by 2030.","page_number":82,"box":{"x":296,"y":626,"width":238,"height":10}},{"id":"5eb0420c-7d78-4030-b90f-135104e97110","block_type":"box","text":"6 –","page_number":82,"box":{"x":670,"y":589,"width":22,"height":8}},{"id":"9d1afade-039b-4516-9398-ed652607234c","block_type":"box","text":"Clean Water and","page_number":82,"box":{"x":698,"y":589,"width":120,"height":8}},{"id":"79c95120-a8f9-4073-9be7-60f720979aa0","block_type":"box","text":"Sanitation","page_number":82,"box":{"x":670,"y":601,"width":72,"height":8}},{"id":"332af7bb-eaaf-4092-903c-0a009ce0033d","block_type":"box","text":"Sanitation","page_number":82,"box":{"x":122,"y":614,"width":72,"height":8}},{"id":"dd85e1e9-f2fe-48fa-bf3e-bb75e8a0ed2e","block_type":"box","text":"Circular economy and","page_number":82,"box":{"x":122,"y":639,"width":172,"height":10}},{"id":"a00426d5-1af3-4f0b-8111-a67d4221bbaf","block_type":"box","text":"waste management","page_number":82,"box":{"x":122,"y":652,"width":139,"height":10}},{"id":"c6603935-38ad-4855-8edc-2a7164ae6186","block_type":"box","text":"Circular economy and waste management are integral","page_number":82,"box":{"x":297,"y":639,"width":370,"height":10}},{"id":"63577d32-9928-4113-9cad-1e36c6a2b190","block_type":"box","text":"to achieving several of the SDGs, but is most pertinent","page_number":82,"box":{"x":296,"y":651,"width":372,"height":11}},{"id":"b9328504-d64d-475b-abb9-cf9fa2b0d499","block_type":"box","text":"to SDG 12, where integrating circular economy","page_number":82,"box":{"x":296,"y":664,"width":372,"height":10}},{"id":"c9e1f4b7-898d-49a4-a617-5f1c6a5d8f0d","block_type":"box","text":"principles into product management can significantly","page_number":82,"box":{"x":297,"y":676,"width":371,"height":10}},{"id":"343af65c-6336-418b-92ee-594350f973f2","block_type":"box","text":"enhance sustainability efforts.","page_number":82,"box":{"x":297,"y":688,"width":197,"height":10}},{"id":"5e2f2db7-28ec-4673-847f-2a07fbdff1b5","block_type":"box","text":"12 –","page_number":82,"box":{"x":670,"y":639,"width":42,"height":8}},{"id":"25aa7495-bd18-40d8-a03e-8932344bff2a","block_type":"box","text":"Responsible","page_number":82,"box":{"x":730,"y":639,"width":88,"height":10}},{"id":"a384d22f-4dcb-454b-93be-45e4bc5ace15","block_type":"box","text":"Consumption and","page_number":82,"box":{"x":670,"y":651,"width":148,"height":10}},{"id":"e87a11d0-8b25-41e2-981d-9631addd1410","block_type":"box","text":"Production","page_number":82,"box":{"x":671,"y":664,"width":77,"height":8}},{"id":"f9194b96-903b-40a4-839b-234ed3e04cb3","block_type":"box","text":"Recycling solutions","page_number":82,"box":{"x":123,"y":702,"width":141,"height":10}},{"id":"7fc319ad-9159-4752-8904-ea132ae439bd","block_type":"box","text":"Recycling is a key component of SDG 12 which aims to","page_number":82,"box":{"x":297,"y":701,"width":371,"height":11}},{"id":"6140be33-cd0a-47a2-9018-452765982c19","block_type":"box","text":"ensure sustainable consumption and production","page_number":82,"box":{"x":297,"y":714,"width":370,"height":10}},{"id":"c5c3ed4a-2eed-4cad-8a4c-73190027617b","block_type":"box","text":"patterns.","page_number":82,"box":{"x":297,"y":727,"width":57,"height":9}},{"id":"e1f381ef-56c7-47de-9102-6bd11a71f738","block_type":"box","text":"Sustainable","page_number":82,"box":{"x":122,"y":739,"width":84,"height":8}},{"id":"49535af5-8ec0-4b34-a351-a7c2c1bd4481","block_type":"box","text":"agriculture","page_number":82,"box":{"x":122,"y":752,"width":77,"height":10}},{"id":"8bcc79e2-fa28-4df0-bc1f-55ff58bdfd08","block_type":"box","text":"Sustainable agriculture contributes significantly to both","page_number":82,"box":{"x":297,"y":739,"width":370,"height":10}},{"id":"9a08446e-6fe5-4d76-a55f-4b1ffb77aa98","block_type":"box","text":"SDG 2 and SDG 15. As the key related targets of SDG","page_number":82,"box":{"x":297,"y":752,"width":370,"height":10}},{"id":"1948d8d5-75f0-4ca2-97b5-0f5f02ab87b4","block_type":"box","text":"2 align to agricultural practices the theme has been","page_number":82,"box":{"x":296,"y":764,"width":371,"height":10}},{"id":"21ee3169-7b66-4a1a-bbe1-6b80cb34f780","block_type":"box","text":"captured in the Earth pillar.","page_number":82,"box":{"x":297,"y":776,"width":179,"height":10}},{"id":"6e041321-64bb-4b26-b8c5-09a1c5712f77","block_type":"box","text":"15 – Life on Land","page_number":82,"box":{"x":670,"y":739,"width":122,"height":8}},{"id":"023580ea-290d-4256-ad9b-ba2a095ee700","block_type":"box","text":"§","page_number":82,"box":{"x":62,"y":917,"width":3,"height":5}},{"id":"9e21a752-1e97-4b34-8103-d53605e72694","block_type":"box","text":"https://sdgs.un.org/sustainabledevelopment","page_number":82,"box":{"x":70,"y":916,"width":290,"height":10}},{"id":"aaf1ebf5-56fa-49cc-b6ea-600bd189b695","block_type":"box","text":". The content of this publication has not been approved by the United Nations and does not reflect the","page_number":82,"box":{"x":362,"y":918,"width":561,"height":8}},{"id":"ee455e23-44b0-4bb8-850a-bf59f2ba5bc3","block_type":"box","text":"views of the United Nations or its officials or Member States.","page_number":82,"box":{"x":74,"y":929,"width":331,"height":7}},{"id":"11c0f8d0-ff6e-41d7-98e3-d339537c3d83","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":83,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"051969d5-7de7-45fa-ad9e-af207920ba0b","block_type":"box","text":"83","page_number":83,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"4cf8670e-8296-48a1-bc2f-894db56ab13e","block_type":"box","text":"Aviva Investors: Confidential","page_number":83,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"edcbe7c9-10fb-4cdd-8e04-c67c71818fc5","block_type":"box","text":"Sustainable Forestry","page_number":83,"box":{"x":122,"y":53,"width":149,"height":10}},{"id":"a069b7cb-45dd-4b65-9d1e-3ec2a49cffbd","block_type":"box","text":"Sustainable forestry principles link explicitly to SDG 15","page_number":83,"box":{"x":297,"y":53,"width":371,"height":10}},{"id":"b6ed6ebe-32f6-477d-8aae-b690e1785b5f","block_type":"box","text":"which aims to protect, restore, and promote the","page_number":83,"box":{"x":296,"y":66,"width":372,"height":9}},{"id":"40cb4c76-6275-4b43-944a-fc7f1f0b72b9","block_type":"box","text":"sustainable use of terrestrial ecosystems.","page_number":83,"box":{"x":297,"y":78,"width":275,"height":10}},{"id":"1241889c-84f8-487f-9dad-3042ca594029","block_type":"box","text":"Sustainable oceans","page_number":83,"box":{"x":122,"y":91,"width":140,"height":8}},{"id":"e67477ce-57e5-48c6-a71f-687710985baa","block_type":"box","text":"Sustainable oceans are the focus of the SDG 14, which","page_number":83,"box":{"x":297,"y":91,"width":370,"height":9}},{"id":"65e865e9-7e5e-43e1-bc13-fff6621be2dd","block_type":"box","text":"aims to conserve and sustainably use the oceans, seas,","page_number":83,"box":{"x":297,"y":103,"width":370,"height":10}},{"id":"28c1f39d-ad2c-4373-9d6e-dc1551dff875","block_type":"box","text":"and marine resources.","page_number":83,"box":{"x":297,"y":116,"width":148,"height":7}},{"id":"b39c9ef3-8172-4b93-baa6-061b92c49883","block_type":"box","text":"14 –","page_number":83,"box":{"x":670,"y":91,"width":42,"height":8}},{"id":"a9d52895-6b0e-47f9-b3d3-ca09539e0c1e","block_type":"box","text":"Life Below","page_number":83,"box":{"x":731,"y":91,"width":87,"height":8}},{"id":"8c2a52ce-40f2-4d31-a633-fabc71b4ca24","block_type":"box","text":"Water","page_number":83,"box":{"x":670,"y":103,"width":41,"height":8}},{"id":"0935505c-c6e7-4836-be68-7cc1eaac4219","block_type":"box","text":"People","page_number":83,"box":{"x":64,"y":232,"width":48,"height":10}},{"id":"196d8646-ba97-448f-8607-68bc343d5db6","block_type":"box","text":"Affordable Housing","page_number":83,"box":{"x":122,"y":131,"width":139,"height":10}},{"id":"e2a1e826-d2fa-4258-82f8-638c777424e0","block_type":"box","text":"Affordable and safe housing is considered a key element","page_number":83,"box":{"x":296,"y":131,"width":372,"height":10}},{"id":"ba4731dd-c75d-4b3a-8d7e-3fa0b1f15489","block_type":"box","text":"of SDG 1, with improving living standards being","page_number":83,"box":{"x":297,"y":143,"width":370,"height":10}},{"id":"20d204a1-a470-4f63-b5e3-049670a07df0","block_type":"box","text":"considered a key contributor to reducing poverty.","page_number":83,"box":{"x":297,"y":155,"width":325,"height":10}},{"id":"e553f873-0467-4adb-aace-89758df33357","block_type":"box","text":"1 – No Poverty","page_number":83,"box":{"x":670,"y":131,"width":104,"height":10}},{"id":"e248a570-29b0-4997-a021-51f14fabe854","block_type":"box","text":"Access to Nutrition","page_number":83,"box":{"x":122,"y":168,"width":137,"height":8}},{"id":"0880930b-9bd9-4f6a-bd79-055e5abb5b24","block_type":"box","text":"Access to nutrition is a key component of SDG 2 -","page_number":83,"box":{"x":296,"y":168,"width":336,"height":10}},{"id":"37c0943b-136f-4469-ac15-c211a35bbfd8","block_type":"box","text":"Zero","page_number":83,"box":{"x":637,"y":168,"width":31,"height":8}},{"id":"ad6e9344-865f-4d7e-a458-6e67fed05afb","block_type":"box","text":"Hunger. This goal aims to end hunger, achieve food","page_number":83,"box":{"x":297,"y":181,"width":370,"height":10}},{"id":"a1120e71-87ab-4035-b17e-8bbdbc6f432d","block_type":"box","text":"security, improve nutrition, and promote sustainable","page_number":83,"box":{"x":297,"y":193,"width":371,"height":10}},{"id":"9e42de4b-3534-4025-82e1-aa2c57c819c0","block_type":"box","text":"agriculture by 2030.","page_number":83,"box":{"x":297,"y":205,"width":131,"height":10}},{"id":"c656a132-6018-409f-825c-d5911e134b43","block_type":"box","text":"2 – Zero Hunger","page_number":83,"box":{"x":670,"y":168,"width":115,"height":10}},{"id":"236e86c2-1342-445a-9018-7f2f40de4530","block_type":"box","text":"Healthcare","page_number":83,"box":{"x":123,"y":218,"width":76,"height":8}},{"id":"bec49109-4a70-46a0-b8c4-f7e90af24108","block_type":"box","text":"Healthcare is a central focus of SDG 3: Good Health and","page_number":83,"box":{"x":297,"y":218,"width":370,"height":8}},{"id":"de553469-29eb-48e0-91c5-e1657f933285","block_type":"box","text":"Well-","page_number":83,"box":{"x":296,"y":231,"width":34,"height":8}},{"id":"6d8faa9c-2fb9-423e-8101-e44c94753786","block_type":"box","text":"being. This goal aims to ensure healthy lives and","page_number":83,"box":{"x":332,"y":231,"width":336,"height":10}},{"id":"4d0c0809-db7a-4655-a599-88ad0533a31b","block_type":"box","text":"promote well-being for all at all ages by 2030.","page_number":83,"box":{"x":297,"y":243,"width":302,"height":10}},{"id":"749571d9-054e-485b-ade3-11277664b36b","block_type":"box","text":"3 –","page_number":83,"box":{"x":670,"y":219,"width":21,"height":7}},{"id":"6416be07-422c-405c-9237-d0fe674e07d3","block_type":"box","text":"Good Health and","page_number":83,"box":{"x":697,"y":218,"width":121,"height":8}},{"id":"14d8fb03-32e2-49b6-b366-f94654796901","block_type":"box","text":"Well-Being","page_number":83,"box":{"x":670,"y":231,"width":77,"height":10}},{"id":"d3070c3f-989c-408c-83f7-fb68e11ac8cf","block_type":"box","text":"Access to education","page_number":83,"box":{"x":122,"y":258,"width":158,"height":8}},{"id":"b843c67f-5fe6-4f0e-a8f9-0200fe2ed1e0","block_type":"box","text":"Access to education is a key focus of SDG 4, which aims","page_number":83,"box":{"x":296,"y":258,"width":372,"height":10}},{"id":"61d5a880-4089-4e60-bcd9-e5779fd75c9b","block_type":"box","text":"to ensure inclusive and equitable quality education and","page_number":83,"box":{"x":296,"y":270,"width":371,"height":10}},{"id":"7796e1f6-fe20-43b8-bdd7-6af858d3970e","block_type":"box","text":"promote lifelong learning opportunities for all.","page_number":83,"box":{"x":297,"y":283,"width":300,"height":10}},{"id":"00a27a4b-a7e1-4678-b7a3-509a91b3c8c5","block_type":"box","text":"4","page_number":83,"box":{"x":670,"y":258,"width":7,"height":8}},{"id":"52e0a330-69f2-4bed-862b-b88789f9f9dc","block_type":"box","text":"–","page_number":83,"box":{"x":718,"y":262,"width":9,"height":1}},{"id":"5f151549-2ec2-4d1a-85f3-832e08e3c3a0","block_type":"box","text":"Quality","page_number":83,"box":{"x":768,"y":258,"width":50,"height":10}},{"id":"dfec50be-e13b-4f87-8121-aa3e95889cde","block_type":"box","text":"Education","page_number":83,"box":{"x":671,"y":270,"width":71,"height":8}},{"id":"4bc6074f-4250-4a4a-a33a-a148b03df4de","block_type":"box","text":"Access to finance","page_number":83,"box":{"x":122,"y":296,"width":128,"height":8}},{"id":"90739766-6d11-4a06-9631-8add56b3b1ed","block_type":"box","text":"Access to finance is a crucial aspect of achieving the","page_number":83,"box":{"x":296,"y":296,"width":372,"height":10}},{"id":"92743bbe-f2a1-4123-b32d-b428235d0580","block_type":"box","text":"SDGs particularly SDG 8, which focuses on promoting","page_number":83,"box":{"x":297,"y":308,"width":370,"height":10}},{"id":"88933db3-70c6-4c49-85d9-93d6485c915a","block_type":"box","text":"sustained, inclusive, and sustainable economic growth,","page_number":83,"box":{"x":297,"y":320,"width":370,"height":10}},{"id":"8fb5cdba-cc76-4685-a01a-00c6bc8c2fd5","block_type":"box","text":"full and productive employment, and decent work for all.","page_number":83,"box":{"x":296,"y":333,"width":367,"height":10}},{"id":"7b6efc49-30a6-4934-b4e5-d5472c802fd7","block_type":"box","text":"8-","page_number":83,"box":{"x":670,"y":296,"width":13,"height":8}},{"id":"1b54a642-96f3-45f2-b855-61530668cfec","block_type":"box","text":"Decent work and","page_number":83,"box":{"x":684,"y":296,"width":134,"height":8}},{"id":"0da1a334-70cb-440a-afb8-6f9f5fa649d8","block_type":"box","text":"economic growth","page_number":83,"box":{"x":670,"y":308,"width":124,"height":10}},{"id":"62c7eb1b-c4f6-4b3c-9c97-1e4c4d12b89c","block_type":"box","text":"Operations","page_number":83,"box":{"x":63,"y":354,"width":81,"height":11}},{"id":"de8d7b73-81ce-4d35-aa08-dc1df87c1e6e","block_type":"box","text":"Pillar","page_number":83,"box":{"x":64,"y":377,"width":37,"height":8}},{"id":"f0f00c0c-ec76-4d9b-9983-c6a125485404","block_type":"box","text":"Investment themes","page_number":83,"box":{"x":111,"y":377,"width":137,"height":8}},{"id":"738872e9-508f-4606-ae99-d58e8074b915","block_type":"box","text":"Relevant UN SDGs","page_number":83,"box":{"x":296,"y":377,"width":134,"height":8}},{"id":"19761190-bfcc-40d3-8938-8d25f8935211","block_type":"box","text":"Indicative Goals","page_number":83,"box":{"x":677,"y":377,"width":116,"height":8}},{"id":"100c6f8c-3bc0-4195-99fb-09b0692b04be","block_type":"box","text":"Climat","page_number":83,"box":{"x":63,"y":434,"width":46,"height":8}},{"id":"37eb5a28-81f2-4ba9-8751-a55985b8195b","block_type":"box","text":"e","page_number":83,"box":{"x":63,"y":448,"width":8,"height":6}},{"id":"a241700e-ee4b-41d4-b0be-ff324191207a","block_type":"box","text":"Response to Climate","page_number":83,"box":{"x":111,"y":391,"width":182,"height":10}},{"id":"a5207115-4bb9-448b-ada0-2c7b0c0c10b9","block_type":"box","text":"Change","page_number":83,"box":{"x":111,"y":403,"width":52,"height":10}},{"id":"5e3adc81-ea5d-4614-a746-8642faa6fd26","block_type":"box","text":"(Targets, Disclosures,","page_number":83,"box":{"x":111,"y":416,"width":182,"height":10}},{"id":"d5c7dd75-3125-4e53-a6d1-f9f007c1e8e6","block_type":"box","text":"Strategies)","page_number":83,"box":{"x":111,"y":428,"width":72,"height":10}},{"id":"7f02da3c-6ef4-46b0-98b6-0486645dea00","block_type":"box","text":"Company operations significantly impact climate change","page_number":83,"box":{"x":296,"y":422,"width":378,"height":10}},{"id":"47497576-cbb6-4a5c-b0d4-7a72ed24e45c","block_type":"box","text":"through their direct emissions and energy consumption","page_number":83,"box":{"x":295,"y":434,"width":379,"height":10}},{"id":"040dd977-6962-4164-8ae7-c78fda3a4434","block_type":"box","text":"as well as the emissions embedded throughout their","page_number":83,"box":{"x":296,"y":446,"width":379,"height":10}},{"id":"b0b41b10-26e3-41cb-8482-95145d77474e","block_type":"box","text":"supply chains.","page_number":83,"box":{"x":296,"y":459,"width":94,"height":10}},{"id":"efac571d-b0b1-46bb-967f-4b3c29e94d12","block_type":"box","text":"7 –","page_number":83,"box":{"x":676,"y":391,"width":24,"height":8}},{"id":"0588b4bd-fdb7-40fc-9a0a-e2a61fc8ca1b","block_type":"box","text":"Affordable and","page_number":83,"box":{"x":708,"y":391,"width":109,"height":8}},{"id":"e673973e-8f83-4b75-b3b1-5d09ca78ac36","block_type":"box","text":"Clean Energy","page_number":83,"box":{"x":677,"y":403,"width":96,"height":10}},{"id":"9a7ba119-f036-432d-b69a-06d68541cc2b","block_type":"box","text":"9 –","page_number":83,"box":{"x":677,"y":416,"width":46,"height":8}},{"id":"a684a539-94fb-4560-bbab-3d5ca338213f","block_type":"box","text":"Industry,","page_number":83,"box":{"x":755,"y":416,"width":62,"height":10}},{"id":"4d56967c-ce79-4743-8400-f01c46ece4c4","block_type":"box","text":"Innovation and","page_number":83,"box":{"x":677,"y":428,"width":140,"height":8}},{"id":"b7784a33-d10e-4a49-b775-f24f2573d276","block_type":"box","text":"infrastructure","page_number":83,"box":{"x":677,"y":440,"width":97,"height":8}},{"id":"4e3cc6f5-d288-437d-b990-4bf0614ad532","block_type":"box","text":"11 –","page_number":83,"box":{"x":677,"y":453,"width":40,"height":7}},{"id":"8ee8b9ad-42ec-4dae-908c-fa1acf4ec064","block_type":"box","text":"Sustainable","page_number":83,"box":{"x":734,"y":452,"width":84,"height":8}},{"id":"18c18c8f-3ea3-446f-9c3f-1fba7ca1875c","block_type":"box","text":"Cities and","page_number":83,"box":{"x":677,"y":465,"width":140,"height":8}},{"id":"8cf89d7e-46bd-40a3-ab88-44842634c643","block_type":"box","text":"Communities","page_number":83,"box":{"x":677,"y":477,"width":94,"height":8}},{"id":"294dbbe8-88e1-4b91-99f4-8262ddf01458","block_type":"box","text":"13","page_number":83,"box":{"x":677,"y":489,"width":15,"height":8}},{"id":"2841793e-f274-4bfa-b0f2-cd3ca34511dc","block_type":"box","text":"–","page_number":83,"box":{"x":697,"y":493,"width":8,"height":2}},{"id":"bca1ca6c-07f4-47e1-b92e-df5a2831b402","block_type":"box","text":"Climate Action","page_number":83,"box":{"x":709,"y":489,"width":104,"height":8}},{"id":"ca7c5dde-2e2f-4e34-b9e0-da9b9422a944","block_type":"box","text":"Earth","page_number":83,"box":{"x":64,"y":540,"width":36,"height":7}},{"id":"65d3ea30-4799-4533-888e-5ad64b13bcb8","block_type":"box","text":"Nature (Biodiversity)","page_number":83,"box":{"x":111,"y":502,"width":135,"height":11}},{"id":"5a5accfa-185c-43cb-afe5-638ce34a66b3","block_type":"box","text":"Companies can have significant impacts on natural","page_number":83,"box":{"x":296,"y":527,"width":378,"height":10}},{"id":"c99d4d87-41dc-4e1f-9170-603f26f88b0a","block_type":"box","text":"capital through resource use and waste, product lifecycle,","page_number":83,"box":{"x":296,"y":539,"width":378,"height":11}},{"id":"8e96a079-4737-4c1b-b7f5-938fa467a16d","block_type":"box","text":"supply chain, land use, climate change, and through","page_number":83,"box":{"x":296,"y":552,"width":378,"height":10}},{"id":"e7dc1279-f2ce-462e-ae48-429e4c223eee","block_type":"box","text":"disrupting ecosystems.","page_number":83,"box":{"x":296,"y":564,"width":152,"height":10}},{"id":"998fe4ed-5112-4836-8ec1-f47b8210cbae","block_type":"box","text":"6 –","page_number":83,"box":{"x":681,"y":503,"width":29,"height":7}},{"id":"63779a8b-1db6-44f3-a294-643385d551c5","block_type":"box","text":"Clean Water","page_number":83,"box":{"x":723,"y":502,"width":95,"height":8}},{"id":"3db8bdc5-1447-449e-82dc-f67030c8101f","block_type":"box","text":"and Sanitation","page_number":83,"box":{"x":677,"y":515,"width":102,"height":8}},{"id":"0c761f98-bc1d-48e4-861a-c3f24629f2de","block_type":"box","text":"12 –","page_number":83,"box":{"x":677,"y":527,"width":38,"height":8}},{"id":"6cedfbe0-a498-4bda-abc8-d6f94f89c287","block_type":"box","text":"Responsible","page_number":83,"box":{"x":729,"y":527,"width":89,"height":10}},{"id":"3cd8125c-8c37-4784-a8da-da633000235e","block_type":"box","text":"Consumption and","page_number":83,"box":{"x":677,"y":539,"width":140,"height":10}},{"id":"6f1821c2-2f25-4dc3-aeec-525ab4bddbb0","block_type":"box","text":"Production","page_number":83,"box":{"x":677,"y":552,"width":78,"height":8}},{"id":"805ed7e7-98c2-42d4-8807-a329414f1c29","block_type":"box","text":"14 –","page_number":83,"box":{"x":677,"y":564,"width":40,"height":8}},{"id":"941ccb24-fa57-4627-ac91-778a2508939a","block_type":"box","text":"Life Below","page_number":83,"box":{"x":733,"y":564,"width":85,"height":8}},{"id":"dcde5d19-4da3-4220-ab6a-1c6cc69a6ab0","block_type":"box","text":"Water","page_number":83,"box":{"x":676,"y":576,"width":42,"height":8}},{"id":"8663a192-b964-46d6-a269-64b7daf87cdd","block_type":"box","text":"15","page_number":83,"box":{"x":677,"y":589,"width":15,"height":8}},{"id":"9dd48d23-7724-4347-a358-9ba75a2fc1e8","block_type":"box","text":"–","page_number":83,"box":{"x":697,"y":593,"width":9,"height":1}},{"id":"83625aed-eb1e-4dc8-a50c-fabd37482d63","block_type":"box","text":"Life on Land","page_number":83,"box":{"x":711,"y":589,"width":88,"height":8}},{"id":"f2ee1d12-1552-4be9-9697-aadb9d7c93f3","block_type":"box","text":"Land and Ocean Use","page_number":83,"box":{"x":111,"y":521,"width":142,"height":8}},{"id":"1542bd87-4941-4eff-8b75-018f0c572174","block_type":"box","text":"Natural resources","page_number":83,"box":{"x":111,"y":543,"width":118,"height":7}},{"id":"d63ea455-b413-4433-86dc-6bfa905471d5","block_type":"box","text":"Peopl","page_number":83,"box":{"x":64,"y":651,"width":39,"height":10}},{"id":"e62ac8c6-31e9-40af-9ddc-000386b3e6c5","block_type":"box","text":"e","page_number":83,"box":{"x":63,"y":665,"width":8,"height":6}},{"id":"a592691a-fc1a-4798-8027-8a794ad8c771","block_type":"box","text":"Corporate Responsibility","page_number":83,"box":{"x":111,"y":602,"width":183,"height":10}},{"id":"93286ce8-d009-4846-afb1-ea30ed0480fd","block_type":"box","text":"and Ethics","page_number":83,"box":{"x":111,"y":614,"width":69,"height":8}},{"id":"87b608e3-ddd7-45d2-8443-d808a7ad858d","block_type":"box","text":"Company operations can have a wide range of impacts","page_number":83,"box":{"x":296,"y":645,"width":378,"height":10}},{"id":"04c8ee76-8499-4efc-8003-aa2802838e68","block_type":"box","text":"on people, including employees, customers, and the","page_number":83,"box":{"x":296,"y":657,"width":378,"height":10}},{"id":"10772af9-ee86-4028-9810-270360fa13a9","block_type":"box","text":"broader community.","page_number":83,"box":{"x":296,"y":670,"width":132,"height":9}},{"id":"d0d9495a-8e90-4d16-a22c-9d221a771419","block_type":"box","text":"5","page_number":83,"box":{"x":676,"y":602,"width":8,"height":8}},{"id":"9ad38abb-9ef0-4c07-a47d-2ae70389fc39","block_type":"box","text":"–","page_number":83,"box":{"x":720,"y":606,"width":9,"height":1}},{"id":"a4d12334-a4fe-4b53-b23d-cb95ef21c3d4","block_type":"box","text":"Gender","page_number":83,"box":{"x":765,"y":602,"width":53,"height":8}},{"id":"9d683eb6-6330-4f1e-bcdb-390ef7105019","block_type":"box","text":"Equality","page_number":83,"box":{"x":677,"y":614,"width":58,"height":10}},{"id":"fe4e25ae-4212-4d01-b25d-4975a87a9438","block_type":"box","text":"8 –","page_number":83,"box":{"x":677,"y":627,"width":28,"height":7}},{"id":"1c8ab9f5-bc90-42c5-803d-3aefad18271a","block_type":"box","text":"Decent Work","page_number":83,"box":{"x":719,"y":626,"width":99,"height":8}},{"id":"1125f90f-dac1-43fd-91b4-16726ddfe69f","block_type":"box","text":"and Economic","page_number":83,"box":{"x":677,"y":639,"width":140,"height":8}},{"id":"cf032212-33fe-4212-abcc-d2bb8fb63c14","block_type":"box","text":"Growth","page_number":83,"box":{"x":677,"y":651,"width":51,"height":8}},{"id":"744a5ba2-a207-434c-9757-7ed5ce92bfa7","block_type":"box","text":"10 –","page_number":83,"box":{"x":677,"y":663,"width":51,"height":8}},{"id":"0158a965-b949-4a81-b988-960980f2ce1f","block_type":"box","text":"Reduced","page_number":83,"box":{"x":755,"y":663,"width":62,"height":8}},{"id":"9dda6432-a5f5-41fe-9d80-4deb4caed7ff","block_type":"box","text":"Inequalities","page_number":83,"box":{"x":677,"y":676,"width":82,"height":10}},{"id":"11402115-a14a-4f4b-9b7c-bd3580f564f4","block_type":"box","text":"16-","page_number":83,"box":{"x":677,"y":688,"width":21,"height":8}},{"id":"41a30b04-7814-4e74-a46d-29a999f9e5a1","block_type":"box","text":"Peace, Justice","page_number":83,"box":{"x":709,"y":688,"width":109,"height":9}},{"id":"503fd13b-d8bb-489d-9881-df52dbcfa52c","block_type":"box","text":"and Strong","page_number":83,"box":{"x":677,"y":700,"width":140,"height":10}},{"id":"a4421fdb-fb3e-4b3f-bed1-3768d3b1dd8d","block_type":"box","text":"Institutions","page_number":83,"box":{"x":677,"y":712,"width":80,"height":8}},{"id":"26b66634-0280-4513-b4d1-8f1d5ea7d3c6","block_type":"box","text":"The Investment Manager keeps the investment framework under review and may from time to time update the","page_number":83,"box":{"x":62,"y":739,"width":843,"height":12}},{"id":"b6a4d036-86c2-426f-b7e1-6a4bfa3a54ac","block_type":"box","text":"investment themes, or introduce new investment themes, as the market evolves and/or sustainability expectations","page_number":83,"box":{"x":62,"y":753,"width":843,"height":11}},{"id":"89086c4b-2ea1-4c6b-bff8-55ebd5e2bd61","block_type":"box","text":"develop.","page_number":83,"box":{"x":62,"y":767,"width":61,"height":11}},{"id":"ab1cd352-cb1b-4561-8575-9d0835f82b83","block_type":"box","text":"To assess a potential investment’s eligibility under the investment framework, the Investment Manager uses both","page_number":83,"box":{"x":62,"y":788,"width":843,"height":11}},{"id":"9435ca5c-79cc-4d95-85bf-a2ecf61dfa63","block_type":"box","text":"quantitative and qualitative elements, including a broad range of third-party market data tools, internal research,","page_number":83,"box":{"x":62,"y":801,"width":842,"height":11}},{"id":"fca82d5f-e584-4551-939e-7aa4efe85886","block_type":"box","text":"external broker and NGO research, benchmarks, and company disclosures and reports to provide accurate data","page_number":83,"box":{"x":62,"y":815,"width":843,"height":11}},{"id":"9c548952-5bc7-4a15-a668-6e5beda3487e","block_type":"box","text":"and insights into each company. Operational, product and service considerations, alignment to the investment","page_number":83,"box":{"x":62,"y":828,"width":843,"height":12}},{"id":"9ba92022-802d-4e3d-a171-0ec98b180985","block_type":"box","text":"themes and KPIs will be subject to change overtime, informed by the Investment Manager’s view on the quality and","page_number":83,"box":{"x":62,"y":842,"width":843,"height":11}},{"id":"ed947ce0-937d-4510-b6b5-626ac183038d","block_type":"box","text":"coverage of available data points, and to respond to evolving developments in the market and best practice.","page_number":83,"box":{"x":62,"y":856,"width":798,"height":11}},{"id":"03ad51dc-cb8e-419e-8e73-2f18abf99ba2","block_type":"box","text":"Investors should note that, due to the diversity and range of sectors within the Fund’s potential investment universe,","page_number":83,"box":{"x":63,"y":883,"width":841,"height":11}},{"id":"5a9f3729-3900-430b-bd76-f63cbf4d39e2","block_type":"box","text":"it is unlikely that each investment will positively align to all of the three pillars or to all of the SDGs.","page_number":83,"box":{"x":62,"y":897,"width":724,"height":11}},{"id":"80202027-df57-4fd1-80a8-3ec4dc14483b","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":84,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"6d84a35f-a070-44a3-a0a7-aa2cee244fb6","block_type":"box","text":"84","page_number":84,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"e522dbd6-9d58-4f89-a323-13813a8839ae","block_type":"box","text":"Aviva Investors: Confidential","page_number":84,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"330b1743-0338-45a2-8996-e94adb7c66b3","block_type":"box","text":"Products and Services companies","page_number":84,"box":{"x":63,"y":52,"width":271,"height":12}},{"id":"8cb44b7e-75ad-4298-b015-651184763588","block_type":"box","text":"Eligibility due to products and services provided by companies is determined by assessing the revenue aligned to","page_number":84,"box":{"x":63,"y":80,"width":860,"height":11}},{"id":"9859a233-9d12-4018-abd5-f68eece65070","block_type":"box","text":"investment themes as described in the table above. This can be products or services in themselves or specific key","page_number":84,"box":{"x":62,"y":94,"width":861,"height":11}},{"id":"3c5642be-a26c-464e-85ae-21c7bd247278","block_type":"box","text":"components that enable the delivery of products or services that lead to sustainable outcomes.","page_number":84,"box":{"x":62,"y":107,"width":701,"height":11}},{"id":"5c2326f6-15ad-4f54-ba29-29086566ab0b","block_type":"box","text":"To qualify for investment through its products and services, that company must meet either the necessary “revenue”","page_number":84,"box":{"x":62,"y":134,"width":861,"height":12}},{"id":"3620b7aa-94b5-43cf-ae52-838f7c19fd88","block_type":"box","text":"or “pre-revenue” criteria (as outlined below). Companies meeting this initial revenue criteria are then subject to","page_number":84,"box":{"x":62,"y":148,"width":861,"height":11}},{"id":"c5faa77e-471a-4a46-9bcf-a7b954bd0b6a","block_type":"box","text":"additional assessment using the Investment Manager’s proprietary analysis which further examines revenue sources","page_number":84,"box":{"x":62,"y":162,"width":861,"height":11}},{"id":"055f22ad-b651-448f-ad75-2d462d00e13c","block_type":"box","text":"by business segment. Only companies satisfying both the revenue criteria and the additional assessment will be","page_number":84,"box":{"x":62,"y":175,"width":861,"height":12}},{"id":"4d504db1-7a20-4408-8f42-2e82a02a5df0","block_type":"box","text":"regarded as eligible for investment by the Sub-Fund.","page_number":84,"box":{"x":63,"y":189,"width":387,"height":11}},{"id":"7ee65bec-298d-4491-a726-e38db85518df","block_type":"box","text":"To meet the “revenue” criteria, the issuing company must derive at least 20% of its revenues from products or services","page_number":84,"box":{"x":62,"y":216,"width":861,"height":12}},{"id":"3016d0e0-a584-45ff-85c2-335604a5fc10","block_type":"box","text":"linked to one of the pillars (see above). In most circumstances, a company that meets this 20% threshold: (i) must","page_number":84,"box":{"x":62,"y":230,"width":861,"height":11}},{"id":"586f93ff-3e54-46d4-9a78-c24182d255fb","block_type":"box","text":"also have no revenue from products or services assessed as misaligned to the three pillars; and (ii) there must be no","page_number":84,"box":{"x":62,"y":244,"width":861,"height":11}},{"id":"0b1fd696-9311-4d86-b92d-3ebdab838c79","block_type":"box","text":"evidence available to the Investment Manager that suggests the company is subject to a material controversy on","page_number":84,"box":{"x":62,"y":258,"width":860,"height":11}},{"id":"fca54370-b63a-4be2-b167-0485da1c1251","block_type":"box","text":"environmental, human rights or labour-related issues. However, in the event that such misalignment or controversies","page_number":84,"box":{"x":62,"y":271,"width":861,"height":11}},{"id":"b9ff74db-57c0-4c59-bfe9-4e01b784c603","block_type":"box","text":"are identified, that issuing company may still be eligible for investment if the Investment Manager identifies - through","page_number":84,"box":{"x":62,"y":285,"width":860,"height":11}},{"id":"9397192e-ae1c-4dea-b5b8-86e1d0ac0862","block_type":"box","text":"its deep dive assessment - credible evidence that such misalignment / controversies are not material and/or are being","page_number":84,"box":{"x":62,"y":298,"width":860,"height":12}},{"id":"3f1d4bbc-2c10-40ac-ab86-365c1a0ff8a8","block_type":"box","text":"resolved or mitigated.","page_number":84,"box":{"x":63,"y":312,"width":157,"height":11}},{"id":"bbe61013-3395-495c-96b7-d6f2d83824e6","block_type":"box","text":"To meet the “pre-revenue” criteria, the Investment Manager must identify – through its deep dive assessment –","page_number":84,"box":{"x":62,"y":339,"width":861,"height":12}},{"id":"b8f338a6-7cfd-4395-80bb-053de5892c86","block_type":"box","text":"credible evidence that the company is in the early stages of providing a product / service linked to one of the three","page_number":84,"box":{"x":62,"y":353,"width":861,"height":11}},{"id":"40a0d8d8-ba8e-4a49-bbf7-f4d03a3138a4","block_type":"box","text":"pillars and is projected to derive at least 20% of its revenue from that product/service in the future. The Investment","page_number":84,"box":{"x":62,"y":366,"width":861,"height":12}},{"id":"b21df4c5-73e3-4b07-a417-d918505a1470","block_type":"box","text":"Manager will therefore require evidence (such as a formal commitment made in public or through direct engagement","page_number":84,"box":{"x":63,"y":380,"width":860,"height":11}},{"id":"524e2ea8-1b13-43d8-bbab-2598cb2b442d","block_type":"box","text":"with the company) that the company is investing in, researching and developing sustainable products/services, and","page_number":84,"box":{"x":62,"y":394,"width":860,"height":11}},{"id":"207cff08-da7d-45dd-b2c8-7e06e1321e97","block_type":"box","text":"that such products/services are likely to be a material (i.e. at least 20%) revenue stream for the company over time.","page_number":84,"box":{"x":62,"y":408,"width":860,"height":11}},{"id":"051c0cb9-a315-49ed-b8a3-597f4dc84fab","block_type":"box","text":"In the case of issuers that are in the early stages of development or investment where there is no revenue data","page_number":84,"box":{"x":63,"y":421,"width":860,"height":11}},{"id":"d2395022-6fe7-4f02-95ce-8f1cdbd15f23","block_type":"box","text":"available yet, the Investment Manager may employ bespoke financial models to estimate the revenue potential of the","page_number":84,"box":{"x":62,"y":435,"width":861,"height":11}},{"id":"bcbcd556-44dc-4e41-aee0-cdbd72af13bb","block_type":"box","text":"business segment that can capture the unique nature of such investments.","page_number":84,"box":{"x":62,"y":449,"width":552,"height":11}},{"id":"36fb60f1-a515-4886-a3c0-c777b95a579d","block_type":"box","text":"Operations companies","page_number":84,"box":{"x":62,"y":476,"width":180,"height":11}},{"id":"8d538e90-88cc-4d99-b4ef-1094767ba899","block_type":"box","text":"To qualify for investment as an “operations” company, that company will need to demonstrate that it is aligned or is","page_number":84,"box":{"x":62,"y":503,"width":861,"height":11}},{"id":"822f3a79-e627-46be-8e56-e73c77661cf5","block_type":"box","text":"actively aligning its business models and operations to one or more of the investment themes linked to the three pillars","page_number":84,"box":{"x":62,"y":517,"width":861,"height":11}},{"id":"a77aced6-fb49-4cca-8560-b5661db2e33e","block_type":"box","text":"(see the table above). The Investment Manager will assess the company’s policies, practices and performance","page_number":84,"box":{"x":63,"y":530,"width":860,"height":12}},{"id":"b4409693-10e4-4496-946c-d79646c49076","block_type":"box","text":"against these investment themes, for example:","page_number":84,"box":{"x":62,"y":544,"width":345,"height":11}},{"id":"868f17fe-bcb4-4471-85c9-79bcd321f04c","block_type":"box","text":"-","page_number":84,"box":{"x":68,"y":577,"width":4,"height":1}},{"id":"c21347f2-4a51-4380-ae39-972e5fe13755","block_type":"box","text":"Policies","page_number":84,"box":{"x":130,"y":572,"width":62,"height":8}},{"id":"fc9fb651-d645-4096-b79b-24f1a8bb9e97","block_type":"box","text":":","page_number":84,"box":{"x":193,"y":574,"width":3,"height":6}},{"id":"ddde2465-50a4-4aa5-82bf-a41a0cc474bb","block_type":"box","text":"Publicly disclosed statements and commitments that detail the company’s approach, governance","page_number":84,"box":{"x":204,"y":572,"width":719,"height":11}},{"id":"bc4b6f30-aea7-4613-914c-6cfa5c083af7","block_type":"box","text":"and risk assessment frameworks for social and environmental issues. This can include the company’s","page_number":84,"box":{"x":129,"y":585,"width":794,"height":11}},{"id":"3d2a093a-f1ec-46e8-9f21-815cd33d8641","block_type":"box","text":"published policies for specific themes (e.g. biodiversity protection policy, for example), or broader company","page_number":84,"box":{"x":129,"y":599,"width":794,"height":11}},{"id":"9b790da6-de3f-4b23-a955-19a1f481a6db","block_type":"box","text":"disclosures through widely accepted governance reporting frameworks (for example, the environmental","page_number":84,"box":{"x":129,"y":613,"width":794,"height":11}},{"id":"06bc13e8-ea5b-4fa2-871d-78626a2ef446","block_type":"box","text":"disclosure and scoring system operated by organisations such as CDP Worldwide).","page_number":84,"box":{"x":129,"y":626,"width":617,"height":11}},{"id":"96c9b93f-b2b4-41af-a71e-1c1207c4e99e","block_type":"box","text":"-","page_number":84,"box":{"x":68,"y":645,"width":4,"height":1}},{"id":"8a6d9d44-e893-4fff-b1fc-66216abba639","block_type":"box","text":"Practices","page_number":84,"box":{"x":130,"y":640,"width":73,"height":9}},{"id":"dda45b5e-ba0e-4be8-b945-34f40638b2f8","block_type":"box","text":":","page_number":84,"box":{"x":204,"y":643,"width":3,"height":6}},{"id":"0b56cc80-2e86-4633-b44a-0c76225d63c5","block_type":"box","text":"Commitments to specific company actions within its operations to manage and mitigate social","page_number":84,"box":{"x":215,"y":640,"width":707,"height":11}},{"id":"10762e43-75f2-4fc4-8764-63f4cd159230","block_type":"box","text":"and environmental issues. This can include specific programmes (e.g., programs to facilitate workforce","page_number":84,"box":{"x":129,"y":654,"width":794,"height":11}},{"id":"b9b0a845-6833-43aa-be65-f5a049dd2f2c","block_type":"box","text":"diversity), participating in best practice external initiatives (e.g., UN Global Compact signatory) and setting","page_number":84,"box":{"x":129,"y":667,"width":793,"height":12}},{"id":"adc539b2-208a-42bd-a356-aac3b23794b8","block_type":"box","text":"or committing to setting quantitative targets (e.g., Science Based Target initiative (SBTi) verification or","page_number":84,"box":{"x":129,"y":681,"width":795,"height":11}},{"id":"9f33f1c1-1ad3-4dbd-92b3-505a8826f97f","block_type":"box","text":"equivalent emission reduction target) within its business models, strategy and operations.","page_number":84,"box":{"x":129,"y":695,"width":661,"height":11}},{"id":"c1a942db-44f2-45c0-88f3-e6b71902c22e","block_type":"box","text":"-","page_number":84,"box":{"x":68,"y":714,"width":4,"height":1}},{"id":"1c7ac6af-597c-4119-9289-cd8865270f16","block_type":"box","text":"Performance","page_number":84,"box":{"x":130,"y":709,"width":102,"height":8}},{"id":"072a241f-263b-4d04-82a5-3c60c1a65804","block_type":"box","text":":","page_number":84,"box":{"x":232,"y":711,"width":3,"height":6}},{"id":"bf1c4f4c-44c3-40e3-a6fd-38d1e6b933cc","block_type":"box","text":"Realised performance on specific social and environmental issues or progress towards","page_number":84,"box":{"x":246,"y":709,"width":677,"height":11}},{"id":"94c7f028-e431-40e6-a03f-1ab92f3cb2b5","block_type":"box","text":"internal targets (e.g., percentage of women directors, for example).","page_number":84,"box":{"x":129,"y":722,"width":494,"height":11}},{"id":"428ee0dd-548a-40f0-a5d0-b82a7f76a11f","block_type":"box","text":"The table below describes the guiding principles used to determine eligibility.","page_number":84,"box":{"x":62,"y":750,"width":568,"height":11}},{"id":"12e21e48-8170-4ed1-97b1-c5faa4f64eea","block_type":"box","text":"An operations company must pass the Baseline and Controversies criteria.","page_number":84,"box":{"x":71,"y":766,"width":539,"height":10}},{"id":"50549cd5-a482-4426-9b8d-4a3f2bf6b245","block_type":"box","text":"Baseline","page_number":84,"box":{"x":72,"y":830,"width":56,"height":8}},{"id":"ac6d3c21-d0f0-4eae-9ba7-03a1a2cbe13a","block_type":"box","text":"The company maintains a baseline of high social standards and supports the","page_number":84,"box":{"x":202,"y":793,"width":545,"height":10}},{"id":"d3f5a81d-43d3-4047-b5bb-f0a1f621a21e","block_type":"box","text":"transition to a carbon neutral future. Specifically, the company must:","page_number":84,"box":{"x":202,"y":805,"width":453,"height":11}},{"id":"247a9865-8e7a-4cdc-a7e6-cb90955308dc","block_type":"box","text":"","page_number":84,"box":{"x":233,"y":832,"width":4,"height":3}},{"id":"c3e4205f-4a2a-4525-9294-1ba99bfee35d","block_type":"box","text":"Have targets for carbon reduction","page_number":84,"box":{"x":263,"y":830,"width":222,"height":10}},{"id":"46aa57ff-d84f-4bcf-a753-f7b3321dd822","block_type":"box","text":"","page_number":84,"box":{"x":233,"y":845,"width":4,"height":3}},{"id":"3e16137f-9be2-437b-9f21-1c7e26655e99","block_type":"box","text":"Have a human rights policy","page_number":84,"box":{"x":263,"y":842,"width":181,"height":10}},{"id":"046c8cdc-0273-4982-b73d-cb69c2459738","block_type":"box","text":"","page_number":84,"box":{"x":233,"y":857,"width":4,"height":3}},{"id":"7d1ff3c3-74f0-4bc6-9196-289178a23b64","block_type":"box","text":"Comply with the International Labour Organisation’s (ILO) standards","page_number":84,"box":{"x":262,"y":855,"width":456,"height":10}},{"id":"faae504a-df16-48ff-90c6-9d7759e1cd38","block_type":"box","text":"","page_number":84,"box":{"x":233,"y":869,"width":4,"height":3}},{"id":"57dc0eb1-f8f6-464b-a28c-f4b511eda87b","block_type":"box","text":"Have programs to facilitate workforce diversity","page_number":84,"box":{"x":263,"y":867,"width":308,"height":10}},{"id":"0634738f-9e1f-4d4e-8c15-c5c0e74844da","block_type":"box","text":"Controversies","page_number":84,"box":{"x":71,"y":909,"width":92,"height":9}},{"id":"18c9140a-2451-4eb2-a76c-44e86e9411dd","block_type":"box","text":"The company demonstrates effective mitigation and remediation of potentially","page_number":84,"box":{"x":202,"y":910,"width":546,"height":10}},{"id":"aeb7229c-868a-4ec2-a2fb-afce91f6a9cf","block_type":"box","text":"harmful activities.","page_number":84,"box":{"x":202,"y":922,"width":115,"height":8}},{"id":"f9a2eea1-84d5-4d03-8d25-f361a079be03","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":85,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"8452813c-ac01-4732-a00f-0073b363b9be","block_type":"box","text":"85","page_number":85,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"0df3f5fb-7655-43ed-9c4f-899c3621d363","block_type":"box","text":"Aviva Investors: Confidential","page_number":85,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"efc319a3-519d-4a3d-9757-e295eef85408","block_type":"box","text":"OR","page_number":85,"box":{"x":202,"y":65,"width":21,"height":8}},{"id":"cbac1e29-5297-4b6a-bef3-160abed3d607","block_type":"box","text":"The company demonstrates robust policies and procedures that prevent the","page_number":85,"box":{"x":202,"y":90,"width":545,"height":10}},{"id":"da67b9fd-a76d-4afe-a6a2-66719d7293b2","block_type":"box","text":"occurrence of harmful controversies.","page_number":85,"box":{"x":202,"y":102,"width":243,"height":8}},{"id":"ac6f3109-63a0-4529-8c57-e78c7511c8a9","block_type":"box","text":"An operations company must also pass the criteria for either Climate, Earth or People.","page_number":85,"box":{"x":71,"y":129,"width":619,"height":10}},{"id":"3e16cedc-31c7-4fd5-bb20-d3ab909d1756","block_type":"box","text":"Climate","page_number":85,"box":{"x":71,"y":200,"width":50,"height":8}},{"id":"3d334de1-4737-43c5-9125-ddc6dcf12691","block_type":"box","text":"The company has robust targets to align its emissions to a low carbon future and","page_number":85,"box":{"x":202,"y":157,"width":545,"height":10}},{"id":"392178c4-096b-4865-9b0e-b1e6d6c3f622","block_type":"box","text":"is demonstrating its commitment through its strategy, reporting, and staying on","page_number":85,"box":{"x":202,"y":169,"width":545,"height":10}},{"id":"34377260-dd0d-48b9-b99d-ba7a325ded50","block_type":"box","text":"track with its targets.","page_number":85,"box":{"x":202,"y":182,"width":136,"height":10}},{"id":"34393d26-129b-4947-afb5-fbb77c41cb7b","block_type":"box","text":"OR","page_number":85,"box":{"x":202,"y":206,"width":21,"height":8}},{"id":"47967cd5-c514-4e38-9cd2-25f0795a7933","block_type":"box","text":"The company has a net zero carbon footprint and maintains robust standards for","page_number":85,"box":{"x":202,"y":231,"width":546,"height":10}},{"id":"4f3fa308-d063-4cd1-978d-38d8b5044568","block_type":"box","text":"carbon emissions management at the operational and supply chain levels.","page_number":85,"box":{"x":202,"y":243,"width":494,"height":10}},{"id":"3102d882-1ca1-43dc-a43d-040338fd11f6","block_type":"box","text":"Earth","page_number":85,"box":{"x":72,"y":323,"width":34,"height":8}},{"id":"54132278-9291-400d-8913-15dfd8fb2126","block_type":"box","text":"The company has policies and procedures in place to effectively monitor and","page_number":85,"box":{"x":202,"y":280,"width":545,"height":10}},{"id":"8ec13c53-1243-47b8-bac6-b14a41a780d7","block_type":"box","text":"mitigate its impacts on the environment and is taking steps to align its","page_number":85,"box":{"x":202,"y":293,"width":545,"height":10}},{"id":"34ac329c-c137-4006-99bc-5b547fcf0ebf","block_type":"box","text":"environmental footprint to a nature positive future.","page_number":85,"box":{"x":202,"y":305,"width":331,"height":10}},{"id":"b9485c56-60dd-4b4b-9f18-092a025e59eb","block_type":"box","text":"OR","page_number":85,"box":{"x":202,"y":330,"width":21,"height":7}},{"id":"192bbdba-0903-45e0-b18b-ac32d00865f8","block_type":"box","text":"The company does not have an adverse impact on the environment and maintains","page_number":85,"box":{"x":202,"y":354,"width":545,"height":10}},{"id":"5a0685d9-a636-42d5-9546-2e1dd6a901d0","block_type":"box","text":"the robust standards for managing its environmental footprint.","page_number":85,"box":{"x":202,"y":366,"width":410,"height":11}},{"id":"1cccc776-8afd-4e33-82a1-b00200490df5","block_type":"box","text":"People","page_number":85,"box":{"x":72,"y":447,"width":45,"height":10}},{"id":"c99a40ef-a608-446c-aa1c-11d6d29f47d1","block_type":"box","text":"The company demonstrates a commitment to achieving high standards of","page_number":85,"box":{"x":202,"y":404,"width":546,"height":10}},{"id":"661ea331-ac82-44ae-b21d-7718a1c4e10a","block_type":"box","text":"corporate responsibility, human capital management, and workforce diversity and","page_number":85,"box":{"x":202,"y":416,"width":545,"height":10}},{"id":"04aad12b-323d-439e-b514-d33c959e87db","block_type":"box","text":"is taking steps to improve processes and deliver effective remediation of issues.","page_number":85,"box":{"x":202,"y":428,"width":532,"height":11}},{"id":"f25af210-1863-43a9-ac4b-0debf61c34f5","block_type":"box","text":"OR","page_number":85,"box":{"x":202,"y":453,"width":21,"height":8}},{"id":"fb05d118-61e8-4cab-9fea-87525365a387","block_type":"box","text":"The company demonstrates robust standards of corporate responsibility, human","page_number":85,"box":{"x":202,"y":478,"width":545,"height":10}},{"id":"90cf9320-3e1d-43b4-9cfd-805527ffc321","block_type":"box","text":"capital management, and workforce diversity.","page_number":85,"box":{"x":202,"y":490,"width":302,"height":10}},{"id":"dbb6e7ec-59cc-4c74-9897-133ff5317fa2","block_type":"box","text":"To meet the operations criteria, there must be no evidence available to the Investment Manager that suggests the","page_number":85,"box":{"x":62,"y":529,"width":861,"height":11}},{"id":"24941fd8-ca6c-4540-b045-01200de0556c","block_type":"box","text":"company is subject to a material controversy on environmental, human rights or labour-related issues. However, in","page_number":85,"box":{"x":62,"y":543,"width":860,"height":11}},{"id":"6ce6cca9-09db-43f0-a471-c7d1ccd8b815","block_type":"box","text":"the event that such controversies are identified, that issuing company may still be eligible for investment if the","page_number":85,"box":{"x":62,"y":556,"width":861,"height":12}},{"id":"e4e50ce6-ddc9-438f-8dd5-f3da2660ca01","block_type":"box","text":"Investment Manager identifies - through its deep dive assessment - credible evidence that such controversies are not","page_number":85,"box":{"x":63,"y":570,"width":860,"height":11}},{"id":"69842c52-8696-41a2-b609-9283e0c30b18","block_type":"box","text":"material and/or are being resolved or mitigated.","page_number":85,"box":{"x":62,"y":584,"width":350,"height":11}},{"id":"df59c313-042c-4fb3-b102-6c50a00f45c6","block_type":"box","text":"GSS bonds","page_number":85,"box":{"x":62,"y":627,"width":89,"height":9}},{"id":"e4f4ce63-af9c-417b-9474-2afabd4f8439","block_type":"box","text":"GSS bonds will be considered eligible for investment if: (i) they are included on one of the databases maintained by","page_number":85,"box":{"x":62,"y":651,"width":861,"height":11}},{"id":"b687cd30-c6f5-411b-a095-adb260e75335","block_type":"box","text":"the Climate Bonds Initiative (“","page_number":85,"box":{"x":62,"y":664,"width":215,"height":11}},{"id":"6f011a2e-9c4d-4458-aba6-f2f8dbc4076b","block_type":"box","text":"CBI","page_number":85,"box":{"x":279,"y":664,"width":27,"height":9}},{"id":"a2ab27c3-d418-4861-bc57-8fee5d55612b","block_type":"box","text":"”); and (ii) the Investment Manager considers that the proceeds of the bond are used","page_number":85,"box":{"x":307,"y":664,"width":615,"height":12}},{"id":"ed08c121-0046-40dc-a358-abf78cdfb817","block_type":"box","text":"in furtherance of an initiative or project that aligns to an investment theme tied to one of the three pillars of Climate,","page_number":85,"box":{"x":62,"y":678,"width":860,"height":11}},{"id":"69794767-db2d-4e6d-9f5b-57163f923e1c","block_type":"box","text":"Earth or People (as set out in the table above).","page_number":85,"box":{"x":63,"y":692,"width":344,"height":11}},{"id":"84f0d818-76d8-4ad7-a995-bd6b5e39d966","block_type":"box","text":"The CBI is an independent international organisation working to mobilise global capital for climate action by identifying","page_number":85,"box":{"x":62,"y":728,"width":860,"height":12}},{"id":"e20ea33f-8370-443f-ba57-6db2ab64693f","block_type":"box","text":"assets, activities and projects meeting their prescribed criteria and which are needed to deliver a low carbon economy.","page_number":85,"box":{"x":62,"y":742,"width":860,"height":11}},{"id":"fb6c3081-268b-48f2-a0b8-d6ad42e2fed8","block_type":"box","text":"To be included within the Sub-Fund’s minimum stewardship allocation, the issuance of the bond must be included in","page_number":85,"box":{"x":62,"y":756,"width":860,"height":11}},{"id":"a29593fe-1e34-434a-b2a0-0cec6c12e67b","block_type":"box","text":"one of the databases maintained by the CBI and, where relevant, positively assessed by the CBI as satisfying the","page_number":85,"box":{"x":62,"y":769,"width":861,"height":12}},{"id":"4d1237ee-797b-47a5-bacd-dba48ca3c299","block_type":"box","text":"criteria attached to that database. This process reflects that the CBI has determined that the bonds are used in the","page_number":85,"box":{"x":62,"y":783,"width":861,"height":11}},{"id":"b67c274b-487f-4dfa-8db8-5e65246a6db2","block_type":"box","text":"furtherance of projects or initiatives that have positive environmental, social, decarbonisation, climate or other","page_number":85,"box":{"x":62,"y":797,"width":861,"height":11}},{"id":"9b0cd1a5-d775-4e65-8843-ae626f61afd1","block_type":"box","text":"sustainability linked benefits. Each database has its own criteria for the inclusion of bonds on that database, with a","page_number":85,"box":{"x":62,"y":811,"width":861,"height":11}},{"id":"a782820f-646f-4da6-8d31-ca91f581a8d6","block_type":"box","text":"published methodology relevant to the category of bond.","page_number":85,"box":{"x":62,"y":824,"width":416,"height":11}},{"id":"7c8739cf-fa93-4117-b524-b273b988b2cf","block_type":"box","text":"The CBI continues to track the issuance of all bonds included on one of its databases. In the event a bond held by","page_number":85,"box":{"x":62,"y":851,"width":861,"height":12}},{"id":"b31169a8-491d-4204-85fe-d12f5b33a510","block_type":"box","text":"the Sub-Fund is subsequently identified by the Investment Manager as no longer being included on the relevant CBI","page_number":85,"box":{"x":62,"y":865,"width":860,"height":11}},{"id":"c4a6ead3-c1a3-4813-bacd-541997fc2684","block_type":"box","text":"database, or is no longer positively assessed by the CBI as satisfying the relevant criteria for that database, the bond","page_number":85,"box":{"x":62,"y":879,"width":860,"height":11}},{"id":"a7ee3a8e-4051-46cb-bba5-919569b5896f","block_type":"box","text":"will no longer contribute towards the Sub-Fund’s minimum stewardship allocation and may, if necessary, be disposed","page_number":85,"box":{"x":62,"y":892,"width":860,"height":12}},{"id":"cd1ecc01-d832-429c-b0ec-4c0bf48ae76b","block_type":"box","text":"of in accordance with the monitoring and divestment policy used for the screens described above. Further information","page_number":85,"box":{"x":62,"y":906,"width":860,"height":11}},{"id":"63bf9a37-e1e9-497c-a10a-6ceaec409105","block_type":"box","text":"on the CBI can be found at:","page_number":85,"box":{"x":62,"y":920,"width":202,"height":9}},{"id":"10760cab-b14d-4b74-9057-8233c140fecf","block_type":"box","text":"www.climatebonds.net","page_number":85,"box":{"x":271,"y":920,"width":167,"height":8}},{"id":"583d3717-5ee1-4a42-a7ac-02964ec8a0c4","block_type":"box","text":".","page_number":85,"box":{"x":440,"y":927,"width":2,"height":1}},{"id":"1d201a91-bdff-4556-a9e4-d39609de2b13","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":86,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"b7e3975d-2caa-413c-aab3-cff08f3e6f0b","block_type":"box","text":"86","page_number":86,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"9f3a61d4-e1a0-4795-8792-f1923b19126d","block_type":"box","text":"Aviva Investors: Confidential","page_number":86,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"2fdb2ca1-2fc6-42fa-afba-9b7c2a98a33b","block_type":"box","text":"Monitoring","page_number":86,"box":{"x":63,"y":73,"width":84,"height":11}},{"id":"dfb43806-0153-4887-a19f-2289d27aed64","block_type":"box","text":"Once an investment is made, it is monitored by the Investment Manager to ensure that it continues to meet the","page_number":86,"box":{"x":62,"y":101,"width":843,"height":11}},{"id":"6aedca47-3e7b-4762-be58-1ce5e433fb74","block_type":"box","text":"requirements of the investment framework. If the available data indicates that this is no longer the case, the","page_number":86,"box":{"x":63,"y":114,"width":842,"height":12}},{"id":"00238c18-c6f6-4e0d-876a-c317286a7410","block_type":"box","text":"Investment Manager will conduct a qualitative review of the relevant company. If the Investment Manager","page_number":86,"box":{"x":63,"y":128,"width":843,"height":11}},{"id":"7c63f701-9074-46cd-936f-46c7d71dd620","block_type":"box","text":"subsequently determines that the company no longer meets the requirements of the investment framework, it will","page_number":86,"box":{"x":62,"y":142,"width":843,"height":11}},{"id":"c403bf77-216f-44b1-9405-d1409426f020","block_type":"box","text":"be disposed of as soon as reasonably practicable having regard to the interests of investors in the Sub-Fund.","page_number":86,"box":{"x":62,"y":155,"width":807,"height":11}},{"id":"3af37132-c182-42de-a11a-7e628668d391","block_type":"box","text":"Engagement","page_number":86,"box":{"x":63,"y":189,"width":99,"height":11}},{"id":"46c824da-dac5-46b2-8e04-09a940c6198a","block_type":"box","text":"The Investment Manager engages with investee companies on thematic issues with the aim of positively influencing","page_number":86,"box":{"x":62,"y":222,"width":860,"height":11}},{"id":"6c62413c-fb44-4b9d-932e-54390b36e714","block_type":"box","text":"sustainable behaviours. Thematic engagement programmes will target a subset of companies within the Sub- Fund,","page_number":86,"box":{"x":62,"y":235,"width":860,"height":12}},{"id":"d6b14487-c410-4a6b-be9f-37a4ba7a269b","block_type":"box","text":"with specific engagement asks for companies to pursue progress on key themes and areas captured by the","page_number":86,"box":{"x":62,"y":249,"width":861,"height":11}},{"id":"0f31314f-0dbe-4b6a-8f62-8d6406e0fbd9","block_type":"box","text":"investment framework. Engagement may also be conducted if, in the Investment Manager’s view, new data emerges","page_number":86,"box":{"x":62,"y":263,"width":861,"height":11}},{"id":"8ee3cc80-c00b-46ca-ad73-fc9894c174ba","block_type":"box","text":"that suggests an investee company’s practices may be falling short of expectations and/or potentially no longer meet","page_number":86,"box":{"x":62,"y":276,"width":861,"height":12}},{"id":"621435e0-e380-4e6d-b992-ae4e9eed53ca","block_type":"box","text":"the requirements of the investment framework.","page_number":86,"box":{"x":62,"y":290,"width":344,"height":11}},{"id":"f847829a-794f-4bd9-ade5-fb2a2f5198b4","block_type":"box","text":"Measurement and KPIs","page_number":86,"box":{"x":63,"y":329,"width":182,"height":9}},{"id":"52df7046-a3b9-4fec-afde-a99721949069","block_type":"box","text":"On an ongoing basis, the Investment Manager will monitor the Sub-Fund’s holdings against a range of key","page_number":86,"box":{"x":62,"y":362,"width":861,"height":12}},{"id":"8f2a1970-f940-44c8-9ff4-f5a1509d0be3","block_type":"box","text":"performance indicators to ensure that they remain compliant with the investment framework. To allow assessment of","page_number":86,"box":{"x":62,"y":376,"width":861,"height":11}},{"id":"8e32ebea-3209-4a9a-be9f-b7d6ee0568a8","block_type":"box","text":"the Sub-Fund’s minimum stewardship allocation, performance against a range of key indicators will be reported to","page_number":86,"box":{"x":62,"y":390,"width":861,"height":11}},{"id":"5105d27d-ccfb-445f-b121-01d13e12e6bb","block_type":"box","text":"investors annually, describing the relevant methodologies used and highlighting any material data considerations.","page_number":86,"box":{"x":62,"y":404,"width":860,"height":11}},{"id":"0f7723b3-0f76-4f7b-8e12-86d7c91d784d","block_type":"box","text":"This annual report will include:","page_number":86,"box":{"x":62,"y":417,"width":224,"height":11}},{"id":"c8c4cfc9-877d-4ed8-8a53-9c866a6df87d","block_type":"box","text":"Fund*","page_number":86,"box":{"x":397,"y":445,"width":42,"height":8}},{"id":"427f479e-dd37-4228-bfc9-1645dc8b7927","block_type":"box","text":"Data provided for Volatility","page_number":86,"box":{"x":560,"y":445,"width":191,"height":10}},{"id":"137ed2b0-ccb1-4439-a2f2-9bbc206139ef","block_type":"box","text":"Index (comparator)?","page_number":86,"box":{"x":583,"y":457,"width":144,"height":10}},{"id":"b7921246-cd54-442d-9b05-750de8949ab6","block_type":"box","text":"Products and Services","page_number":86,"box":{"x":72,"y":470,"width":150,"height":8}},{"id":"15c575a7-af0c-41fd-8411-88f0610a367d","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":470,"width":12,"height":8}},{"id":"8c955cd1-b584-4f5f-b8d8-050b5559c3c0","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":470,"width":26,"height":8}},{"id":"7fc02e3d-844d-4bfc-ab9a-9f9d9e290a96","block_type":"box","text":"Operations","page_number":86,"box":{"x":71,"y":483,"width":73,"height":10}},{"id":"1be8e7a0-b9bc-417e-80a4-1e3d39b0d9b7","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":483,"width":12,"height":8}},{"id":"71488f94-582a-4484-8451-0c97770594b3","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":483,"width":26,"height":8}},{"id":"c59776e6-1d56-4976-ad0e-c3ffd06d91b6","block_type":"box","text":"GSS bonds","page_number":86,"box":{"x":72,"y":496,"width":76,"height":8}},{"id":"162a5c8d-4d82-4e1d-8ad3-e5dfa979f8f6","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":496,"width":12,"height":8}},{"id":"32199dd0-d9c7-46e1-a90a-2ea1d0afd33b","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":496,"width":26,"height":8}},{"id":"9f4bc7f3-e0fe-4ac3-a251-a185a7e4ffc5","block_type":"box","text":"Climate:","page_number":86,"box":{"x":72,"y":508,"width":57,"height":8}},{"id":"60d19c64-fe11-427a-938a-f4f7b382ea23","block_type":"box","text":"SBTi approved emission targets","page_number":86,"box":{"x":72,"y":521,"width":213,"height":11}},{"id":"0454f329-b6ff-4707-9e8d-463bca1b91f8","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":522,"width":12,"height":7}},{"id":"3421ab69-f3d0-4a5b-acc0-b2966fc78770","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":522,"width":26,"height":7}},{"id":"c3b07e04-b98a-454e-a0ef-e17a8af06955","block_type":"box","text":"SBTi committed emission targets","page_number":86,"box":{"x":72,"y":534,"width":218,"height":10}},{"id":"5af2ea89-6b3e-4eb4-96ee-ebf47f87a3dd","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":535,"width":12,"height":7}},{"id":"7a3441a7-bd67-4319-8199-daa8e47d4a84","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":534,"width":26,"height":8}},{"id":"592b1670-8142-4533-b7c7-24d63f0a3117","block_type":"box","text":"CDP Score A-C","page_number":86,"box":{"x":72,"y":547,"width":104,"height":8}},{"id":"9932d86d-7f9a-4392-8843-6cf77c654bb9","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":548,"width":12,"height":7}},{"id":"29601c48-b9c6-42aa-82e8-60131543e274","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":547,"width":26,"height":8}},{"id":"2aaee985-6012-40cc-a2c1-fea0b6046b6b","block_type":"box","text":"CDP Score D-F","page_number":86,"box":{"x":72,"y":560,"width":104,"height":8}},{"id":"f512446e-6f1e-46fa-a1a7-07b532074510","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":560,"width":12,"height":8}},{"id":"29358d21-8c81-4c2e-afff-772dc57efd50","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":560,"width":26,"height":8}},{"id":"d331dc37-4191-4c1d-a2d2-cf7f3381d39c","block_type":"box","text":"No CDP Score","page_number":86,"box":{"x":72,"y":573,"width":98,"height":8}},{"id":"7a89edf5-2ad9-4e9e-a1d2-06b57c0235a0","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":573,"width":12,"height":8}},{"id":"4372a16b-bcf7-42e3-baeb-68e2b4e40583","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":573,"width":26,"height":8}},{"id":"f473936f-2109-4934-bee4-ef3d6bcba9d8","block_type":"box","text":"Earth:","page_number":86,"box":{"x":72,"y":586,"width":41,"height":8}},{"id":"267eea18-c205-4dfc-9007-595d9d24a854","block_type":"box","text":"Biodiversity policy","page_number":86,"box":{"x":72,"y":599,"width":119,"height":10}},{"id":"fd643f24-7049-429e-985d-25c93da4a699","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":599,"width":12,"height":8}},{"id":"57a8626d-ae0a-4009-8d84-a07bef7c638a","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":599,"width":26,"height":8}},{"id":"173e3808-1ea0-4728-9c30-ba463b03c269","block_type":"box","text":"Deforestation policy","page_number":86,"box":{"x":72,"y":612,"width":132,"height":10}},{"id":"9338b193-7792-4216-b73a-067308efcf5a","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":612,"width":12,"height":8}},{"id":"83304f82-81a3-4729-894e-19bb6415dc71","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":612,"width":26,"height":8}},{"id":"5c30fa74-948e-447f-a147-16fdde728427","block_type":"box","text":"Number of companies with","page_number":86,"box":{"x":72,"y":625,"width":217,"height":9}},{"id":"f3415d5e-d6a9-4822-8fa1-91807ad3e166","block_type":"box","text":"severe environmental","page_number":86,"box":{"x":71,"y":637,"width":218,"height":8}},{"id":"368afb95-a697-4205-a05c-4c6d830614d6","block_type":"box","text":"controversies×","page_number":86,"box":{"x":71,"y":649,"width":98,"height":8}},{"id":"0f2eb6be-199d-4532-980a-68bf9c0f89d5","block_type":"box","text":"#","page_number":86,"box":{"x":414,"y":625,"width":7,"height":7}},{"id":"e7c939b0-548b-44cc-bed9-4a76a627f069","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":625,"width":26,"height":7}},{"id":"e8653122-8bfe-4c63-a0c7-1c839cb4bb9f","block_type":"box","text":"People:","page_number":86,"box":{"x":72,"y":662,"width":52,"height":10}},{"id":"8e2dacae-0f11-4727-b0ff-d8202d86a53e","block_type":"box","text":"Human rights due diligence","page_number":86,"box":{"x":72,"y":675,"width":182,"height":10}},{"id":"2c243afa-430c-41ef-9b4d-7e20a7e4437e","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":675,"width":12,"height":8}},{"id":"e43b2653-b68d-4c00-878c-cf25206938eb","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":675,"width":26,"height":8}},{"id":"fd60bb11-2040-472e-a94d-0977e704735a","block_type":"box","text":"Board gender diversity","page_number":86,"box":{"x":72,"y":688,"width":150,"height":10}},{"id":"3b91ae9a-bea4-4df2-bc28-25f40640b0ae","block_type":"box","text":"%","page_number":86,"box":{"x":412,"y":688,"width":12,"height":8}},{"id":"ee1eab26-0f50-410d-b112-f84025f24f86","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":688,"width":26,"height":8}},{"id":"fff67544-0585-4966-b4f1-aa9db6e3e643","block_type":"box","text":"Number of companies with","page_number":86,"box":{"x":72,"y":701,"width":217,"height":10}},{"id":"c18e7a33-5f10-4fc5-adc6-0d5db34ca131","block_type":"box","text":"severe human rights","page_number":86,"box":{"x":71,"y":713,"width":219,"height":10}},{"id":"56564cf8-e0ed-4f5b-a4ee-2ea0b50e10a0","block_type":"box","text":"controversies×","page_number":86,"box":{"x":71,"y":725,"width":98,"height":8}},{"id":"2f350301-6495-428c-a38e-f4fc75ed028d","block_type":"box","text":"#","page_number":86,"box":{"x":414,"y":701,"width":7,"height":7}},{"id":"994e7533-86fc-47db-a4b6-ba902e2bd32a","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":701,"width":26,"height":8}},{"id":"8a3214fa-259a-4152-9a09-70669150cedc","block_type":"box","text":"Number of companies with","page_number":86,"box":{"x":72,"y":738,"width":217,"height":10}},{"id":"90edc71a-78ee-4bcb-8aff-1c76d9db14b6","block_type":"box","text":"severe labour rights","page_number":86,"box":{"x":71,"y":750,"width":219,"height":10}},{"id":"dc7d07b8-2140-4286-a39c-ff7205e54ff5","block_type":"box","text":"controversies×","page_number":86,"box":{"x":71,"y":763,"width":98,"height":8}},{"id":"d0bea786-4d49-493b-9cba-af1c187b8135","block_type":"box","text":"#","page_number":86,"box":{"x":414,"y":739,"width":7,"height":7}},{"id":"4ece95a1-ec09-418c-adce-c275bfa201f9","block_type":"box","text":"Yes","page_number":86,"box":{"x":642,"y":738,"width":26,"height":8}},{"id":"4f6a5eb1-120b-4989-9c64-e4d448d98768","block_type":"box","text":"Source: MSCI, Aladdin, Aviva Investors, CDP Scores, SBTi and CBI.","page_number":86,"box":{"x":62,"y":775,"width":407,"height":9}},{"id":"9a4bfd3f-ed83-4da6-9fbc-5e383df5811f","block_type":"box","text":"* Percentage of the Portfolio, based on market value.","page_number":86,"box":{"x":62,"y":786,"width":314,"height":9}},{"id":"e10d4b7b-5644-4be3-845b-1763de60f82a","block_type":"box","text":"× MSCI data tool indicates a “red” or “amber” flag warning of a “very severe” or a “severe” controversy. Red flags are automatically excluded and","page_number":86,"box":{"x":62,"y":797,"width":861,"height":9}},{"id":"1b5a225d-7a66-42b6-8b95-2651132c051c","block_type":"box","text":"therefore are not reflected in the KPI; this KPI shows amber flags (if any) in the portfolio. For an “amber” flagged company to be included in the","page_number":86,"box":{"x":62,"y":808,"width":861,"height":9}},{"id":"26a790ae-5bfc-4b81-a082-a8fc01af4aad","block_type":"box","text":"Fund’s minimum stewardship allocation, credible evidence available to the Investment Manager that MSCI’s methodology has not been applied","page_number":86,"box":{"x":63,"y":819,"width":860,"height":9}},{"id":"9bfcb84d-4d7b-4974-90ff-d16959edb7a1","block_type":"box","text":"consistently and the company should not, in the Investment Manager’s view, be flagged.","page_number":86,"box":{"x":62,"y":830,"width":522,"height":9}},{"id":"f1ab208d-133a-4010-982d-4ab2355e560d","block_type":"box","text":"The annual report will also update investors on the progress of the Investment Manager’s engagement activities.","page_number":86,"box":{"x":62,"y":855,"width":832,"height":11}},{"id":"481f02e6-2c6f-4103-815c-7a6f1bee8018","block_type":"box","text":"Reporting will use data outputs from MSCI under the MSCI SDG Alignment Methodology. As the MSCI methodology","page_number":86,"box":{"x":63,"y":882,"width":860,"height":12}},{"id":"24a010d4-3f64-4855-a7c6-cce61cac290a","block_type":"box","text":"is only one of several information sources used by the Investment Manager pursuant to the investment framework,","page_number":86,"box":{"x":62,"y":896,"width":860,"height":11}},{"id":"24cbe394-627f-4d71-823e-805bde7f418c","block_type":"box","text":"the Investment Manager does not base their investment selection on this methodology. However, the MSCI","page_number":86,"box":{"x":62,"y":910,"width":860,"height":11}},{"id":"8e4a0539-7f6c-4b13-bb2a-02a675c48ac8","block_type":"box","text":"methodology is considered currently aligned with the Investment Manager’s investment philosophy and provides a","page_number":86,"box":{"x":62,"y":924,"width":861,"height":11}},{"id":"e480a55d-7ca3-4c34-a57d-085e12a6b673","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":87,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"4b69260e-9c66-4d25-8ca3-c919517321d8","block_type":"box","text":"87","page_number":87,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"11004c9b-5bfe-4d16-9f95-687044993f51","block_type":"box","text":"Aviva Investors: Confidential","page_number":87,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"0fd97bce-edef-4fed-a817-87ace7caf793","block_type":"box","text":"holistic view on overall alignment to each of the SDGs. As the Investment Manager has developed its proprietary","page_number":87,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"1c8987af-bc73-4d8d-87ca-8c6ede600936","block_type":"box","text":"investment framework to encapsulate the aims of the SDGs, it is therefore appropriate as a comparator to give market","page_number":87,"box":{"x":62,"y":66,"width":861,"height":11}},{"id":"fd233b1c-2709-4a03-821a-40124bd73833","block_type":"box","text":"context and a third-party view of SDG alignment, purely to assist investors in assessing the characteristics of the Sub","page_number":87,"box":{"x":62,"y":80,"width":861,"height":11}},{"id":"0e3c3ee7-85a6-407e-8f42-950563e94b28","block_type":"box","text":"Fund.","page_number":87,"box":{"x":63,"y":94,"width":40,"height":8}},{"id":"3adf5c60-ff3e-4130-9f0f-f7cebf4932d6","block_type":"box","text":"Additional Information","page_number":87,"box":{"x":62,"y":152,"width":177,"height":9}},{"id":"11df828f-56cf-4103-976f-575b1644a3ee","block_type":"box","text":"Investment Manager","page_number":87,"box":{"x":118,"y":179,"width":151,"height":11}},{"id":"fcefa260-ef12-4307-8eba-9a6eb89082ef","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":87,"box":{"x":352,"y":178,"width":294,"height":9}},{"id":"75720379-45cc-4e08-b101-4ff56daffdb0","block_type":"box","text":"Type of Units","page_number":87,"box":{"x":116,"y":205,"width":98,"height":11}},{"id":"10ce44ff-d3a6-48cb-b512-5564e12f5a89","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":87,"box":{"x":353,"y":205,"width":292,"height":11}},{"id":"dad52995-12d1-48aa-acd4-3ec01034cde9","block_type":"box","text":"Insured Pension Accumulation Units","page_number":87,"box":{"x":354,"y":231,"width":267,"height":9}},{"id":"bb1aa542-4ca7-4fff-94a4-bb3544e91790","block_type":"box","text":"UK Institutional Accumulation Units","page_number":87,"box":{"x":353,"y":257,"width":260,"height":9}},{"id":"b79c907f-6e19-45a8-b2d2-bc4a920f04c7","block_type":"box","text":"UK Feeder Fund Accumulation Units","page_number":87,"box":{"x":353,"y":283,"width":271,"height":9}},{"id":"2bb2f098-74e8-416c-87da-f4017c77d4a7","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":87,"box":{"x":353,"y":309,"width":275,"height":9}},{"id":"89473dd6-33c2-4d08-9864-b98dc053fe16","block_type":"box","text":"Dealing Day","page_number":87,"box":{"x":118,"y":335,"width":89,"height":11}},{"id":"e9fb0129-687a-4040-8077-bd7d9d2c7d31","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":87,"box":{"x":354,"y":335,"width":393,"height":11}},{"id":"90c38351-eeaa-4274-a010-f0cac6c39fba","block_type":"box","text":"Deal Cut-Off Point","page_number":87,"box":{"x":118,"y":361,"width":134,"height":9}},{"id":"3c060d2e-d997-477d-a132-db4f372bab80","block_type":"box","text":"12.00 noon","page_number":87,"box":{"x":354,"y":362,"width":81,"height":8}},{"id":"a987f5dc-d96e-4f66-a666-86507fa5d7f2","block_type":"box","text":"Valuation Point","page_number":87,"box":{"x":117,"y":388,"width":112,"height":8}},{"id":"3fd49990-19df-49b3-b1a5-608bc5e1dfe8","block_type":"box","text":"12.00 noon","page_number":87,"box":{"x":354,"y":388,"width":81,"height":8}},{"id":"60d56d39-9ee2-43da-a5ca-00f032339542","block_type":"box","text":"*Minimum Investment","page_number":87,"box":{"x":117,"y":414,"width":172,"height":8}},{"id":"6c1f262e-81f1-477c-995e-49bd9a260735","block_type":"box","text":"UK Corporate Income","page_number":87,"box":{"x":118,"y":439,"width":160,"height":12}},{"id":"2f77d393-5dfa-47d8-ab63-202c83faecdd","block_type":"box","text":"Distribution Units, Insured","page_number":87,"box":{"x":118,"y":453,"width":189,"height":11}},{"id":"a0584690-db58-4321-954f-81288672587d","block_type":"box","text":"Pension Accumulation Units,","page_number":87,"box":{"x":118,"y":467,"width":211,"height":10}},{"id":"b65d2589-d30d-47af-bf7f-9ceb49de4f12","block_type":"box","text":"UK Institutional","page_number":87,"box":{"x":118,"y":481,"width":110,"height":8}},{"id":"5e4308c1-adb5-464d-beec-c37624a9a89d","block_type":"box","text":"Accumulation Units, UK","page_number":87,"box":{"x":116,"y":494,"width":176,"height":11}},{"id":"f77b3c36-ccf0-4886-b24e-1f7e4fc07ea9","block_type":"box","text":"Feeder Fund Accumulation","page_number":87,"box":{"x":118,"y":508,"width":199,"height":9}},{"id":"38f5d1b7-7703-4f4d-b4d1-df05bd96a79d","block_type":"box","text":"Units, UK Fund of Fund","page_number":87,"box":{"x":118,"y":522,"width":173,"height":10}},{"id":"a72c9d13-56ff-4bfb-9e70-97200338fe4e","block_type":"box","text":"Accumulation Units","page_number":87,"box":{"x":116,"y":535,"width":143,"height":9}},{"id":"7d686b97-dcd5-462d-87e5-88abfc9a79b2","block_type":"box","text":"No minimum","page_number":87,"box":{"x":353,"y":440,"width":92,"height":8}},{"id":"ec44c977-160e-4730-9e07-f4a6163a4dbe","block_type":"box","text":"Minimum withdrawal","page_number":87,"box":{"x":117,"y":562,"width":150,"height":8}},{"id":"582c40d8-f2d3-448d-9aa9-bde5bd0ddf00","block_type":"box","text":"No minimum","page_number":87,"box":{"x":353,"y":562,"width":92,"height":8}},{"id":"dab9c0fc-5acf-426b-a34b-5ae3deee02ac","block_type":"box","text":"Tax Criteria for investment","page_number":87,"box":{"x":116,"y":588,"width":213,"height":8}},{"id":"3cdcf0c9-1ee3-4497-b19f-167fca49fb47","block_type":"box","text":"UK Corporate Income","page_number":87,"box":{"x":118,"y":613,"width":160,"height":12}},{"id":"195eb640-824d-4a34-bd77-337accf129e0","block_type":"box","text":"Distribution Units","page_number":87,"box":{"x":118,"y":628,"width":124,"height":8}},{"id":"ddb8b36f-47ce-4f08-90eb-655f13d871cd","block_type":"box","text":"UK Fund of Fund","page_number":87,"box":{"x":118,"y":686,"width":125,"height":9}},{"id":"e00ecc8e-716d-4086-b994-0e3891c55df2","block_type":"box","text":"Accumulation Units","page_number":87,"box":{"x":116,"y":701,"width":143,"height":8}},{"id":"4ec9d820-85ef-436d-aaba-a9f5c6fa9ff2","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":87,"box":{"x":352,"y":614,"width":404,"height":11}},{"id":"543a4ba5-f452-4fa3-be7c-00559b8cdc55","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":87,"box":{"x":353,"y":627,"width":404,"height":11}},{"id":"e9768cad-11de-4224-a4de-5b416bba4def","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":87,"box":{"x":352,"y":641,"width":405,"height":11}},{"id":"ccc43da6-f15c-481d-badf-341bb4745db9","block_type":"box","text":"linked pension business contracts.","page_number":87,"box":{"x":353,"y":655,"width":253,"height":11}},{"id":"e9ac23d9-c1c7-4dba-90cf-65b62712f169","block_type":"box","text":"A sub-fund of a UK authorised Open Ended Investment","page_number":87,"box":{"x":352,"y":683,"width":405,"height":11}},{"id":"4c98632e-a343-4df4-84eb-e63c91065d79","block_type":"box","text":"Company which is part of or otherwise managed by the","page_number":87,"box":{"x":353,"y":696,"width":403,"height":12}},{"id":"f9e6f876-ddbc-4a9d-908c-c7fa042d4842","block_type":"box","text":"Aviva Group.","page_number":87,"box":{"x":352,"y":710,"width":96,"height":11}},{"id":"43191b80-1e2c-4638-921a-562a61ce4a9a","block_type":"box","text":"Insured Pension","page_number":87,"box":{"x":118,"y":747,"width":118,"height":9}},{"id":"0d98b060-9d30-41eb-823c-e9cb2ffd2748","block_type":"box","text":"Accumulation Units","page_number":87,"box":{"x":116,"y":761,"width":143,"height":9}},{"id":"2f6631a8-747d-4f71-98fb-b92cca10c5c5","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":87,"box":{"x":352,"y":747,"width":404,"height":11}},{"id":"8c56f7ea-414c-43e0-913e-378bf566357c","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":87,"box":{"x":353,"y":761,"width":404,"height":11}},{"id":"4154df71-3e7d-4580-9d72-111f7dac993f","block_type":"box","text":"back exclusively its unit linked pension business","page_number":87,"box":{"x":353,"y":775,"width":404,"height":11}},{"id":"6e073e52-7ae6-4a62-9f08-28ae4b11719f","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":87,"box":{"x":353,"y":788,"width":404,"height":11}},{"id":"1eab3ec2-b2a3-4eba-985d-a667561bd214","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":87,"box":{"x":353,"y":802,"width":307,"height":11}},{"id":"a2c12532-7a1f-4a23-90d4-4b0d9a3763cc","block_type":"box","text":"UK Institutional","page_number":87,"box":{"x":118,"y":828,"width":110,"height":9}},{"id":"f2826e9c-9375-4856-95e2-baefc1d91a25","block_type":"box","text":"Accumulation Units","page_number":87,"box":{"x":116,"y":842,"width":143,"height":9}},{"id":"09443d88-e85a-49da-9931-c37d71642d3f","block_type":"box","text":"UK Feeder Fund","page_number":87,"box":{"x":118,"y":881,"width":121,"height":9}},{"id":"664f04e7-23cd-44db-8dcd-e03661915f90","block_type":"box","text":"Accumulation Units","page_number":87,"box":{"x":116,"y":895,"width":143,"height":8}},{"id":"de803df1-9714-48b0-83ae-d6be6a9a3b00","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":87,"box":{"x":352,"y":828,"width":404,"height":11}},{"id":"c8689e27-a485-4b57-bc02-24b62e4d3d4f","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":87,"box":{"x":353,"y":842,"width":403,"height":11}},{"id":"0a41b766-f45e-4564-8ddc-48904c299566","block_type":"box","text":"tax treaties.","page_number":87,"box":{"x":352,"y":856,"width":85,"height":8}},{"id":"1edd7790-d276-4acc-9520-205c1df7949c","block_type":"box","text":"A sub-fund of a UK authorised Non-UCITS Retail","page_number":87,"box":{"x":352,"y":875,"width":404,"height":9}},{"id":"f25793e2-7b25-4013-8b3c-50cbb4d34e60","block_type":"box","text":"Scheme","page_number":87,"box":{"x":353,"y":889,"width":60,"height":8}},{"id":"56b9cffb-83ad-42a6-951e-b91cbd957616","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":88,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"06708248-4488-4bbc-9b82-bc47c9ac5a3e","block_type":"box","text":"88","page_number":88,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"1ceb28c1-b0f6-4331-87b3-0bb219696142","block_type":"box","text":"Aviva Investors: Confidential","page_number":88,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"ebec36a8-3a08-42b3-abae-14634e77d746","block_type":"box","text":"Additional Criteria for","page_number":88,"box":{"x":117,"y":53,"width":172,"height":9}},{"id":"c0ffcc06-5318-494a-9fc4-60bd8bf99b09","block_type":"box","text":"Investment – UK Feeder","page_number":88,"box":{"x":117,"y":67,"width":190,"height":9}},{"id":"e72e5239-0663-4a7e-bc82-ffac610445ef","block_type":"box","text":"Fund Accumulation Units","page_number":88,"box":{"x":118,"y":80,"width":201,"height":9}},{"id":"a7fc2710-affa-44e6-a7e6-592f35849d3d","block_type":"box","text":"Units are only available to collective investment","page_number":88,"box":{"x":353,"y":53,"width":404,"height":11}},{"id":"0f9016a4-aa3f-4fb7-8607-e25fbd5dcbd2","block_type":"box","text":"schemes operated by the ACS Manager and","page_number":88,"box":{"x":353,"y":67,"width":403,"height":11}},{"id":"ed1608c5-d974-419f-ac3e-0e2ae5175112","block_type":"box","text":"established as a feeder scheme dedicated to Units in","page_number":88,"box":{"x":353,"y":80,"width":403,"height":9}},{"id":"51d552cc-908f-4a2e-a196-90727a58b15f","block_type":"box","text":"the Sub-Fund","page_number":88,"box":{"x":352,"y":94,"width":101,"height":9}},{"id":"5d1f48ed-74e4-4c06-b8ba-6435ea452907","block_type":"box","text":"**Current Charges:","page_number":88,"box":{"x":117,"y":140,"width":149,"height":11}},{"id":"bec9c167-21c8-44e0-a319-506fb60fcff3","block_type":"box","text":"UK Corporate Income","page_number":88,"box":{"x":118,"y":166,"width":160,"height":11}},{"id":"93edb47e-26eb-45b7-83df-139997de032f","block_type":"box","text":"Distribution Units, Insured","page_number":88,"box":{"x":118,"y":180,"width":189,"height":10}},{"id":"51de6c2a-c43e-48a9-a5eb-911c8263691a","block_type":"box","text":"Pension Accumulation Units","page_number":88,"box":{"x":118,"y":193,"width":207,"height":9}},{"id":"bc51b73f-49d3-4b6c-b9b5-d62e957836e0","block_type":"box","text":",","page_number":88,"box":{"x":327,"y":201,"width":2,"height":3}},{"id":"939242a3-f70d-4d86-ac1c-6d46a0f9ca93","block_type":"box","text":"UK Institutional","page_number":88,"box":{"x":118,"y":207,"width":110,"height":9}},{"id":"5737e968-2004-4eab-9c8d-07f60d3dadd4","block_type":"box","text":"Accumulation Units","page_number":88,"box":{"x":116,"y":221,"width":143,"height":8}},{"id":"de0b0c19-0449-4e63-8f0e-5f461265944e","block_type":"box","text":"UK Feeder Fund","page_number":88,"box":{"x":118,"y":260,"width":121,"height":9}},{"id":"d5c2a557-46d2-4b4d-abac-a27419634760","block_type":"box","text":"Accumulation Units","page_number":88,"box":{"x":116,"y":273,"width":143,"height":9}},{"id":"488a443c-04b2-4c52-9b92-e38ec53248d7","block_type":"box","text":"UK Fund of Fund","page_number":88,"box":{"x":118,"y":339,"width":125,"height":9}},{"id":"8ed3b85a-40f4-4cf0-97ba-afc9b499e649","block_type":"box","text":"Accumulation Units","page_number":88,"box":{"x":116,"y":354,"width":143,"height":8}},{"id":"475b040f-1cd7-47e1-ae77-3b0d9a150900","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":88,"box":{"x":352,"y":166,"width":404,"height":11}},{"id":"9b265976-c359-4c21-8643-b9275c498a8a","block_type":"box","text":"Unitholder","page_number":88,"box":{"x":353,"y":180,"width":75,"height":8}},{"id":"3eb80981-b8d9-44f4-ba79-6621acfd28a5","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":88,"box":{"x":352,"y":199,"width":404,"height":11}},{"id":"2a19eb37-9088-40e0-91ee-4b777372fd70","block_type":"box","text":"property","page_number":88,"box":{"x":353,"y":213,"width":60,"height":11}},{"id":"0678713f-4778-4d00-8815-4175a7c3d3c0","block_type":"box","text":"ACS management charge: Deducted from Scheme","page_number":88,"box":{"x":352,"y":252,"width":404,"height":11}},{"id":"25763187-1bb8-4614-adf9-bb9a89b446dd","block_type":"box","text":"Property. Currently 0.00%","page_number":88,"box":{"x":354,"y":266,"width":191,"height":11}},{"id":"a34d42de-13d8-47cc-9a00-6deaf721754c","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":88,"box":{"x":352,"y":285,"width":404,"height":12}},{"id":"04795e3d-0801-4bc9-8812-154e4953f0a7","block_type":"box","text":"property","page_number":88,"box":{"x":353,"y":300,"width":60,"height":10}},{"id":"605566b3-0c8d-4500-ad01-ea49a897f0fc","block_type":"box","text":"ACS management charge: Deducted from the Scheme","page_number":88,"box":{"x":352,"y":338,"width":404,"height":11}},{"id":"9b65dc18-c3f8-45c6-b525-b45d584c3e7b","block_type":"box","text":"property of the FoF Units","page_number":88,"box":{"x":353,"y":353,"width":184,"height":11}},{"id":"d47f1d8f-ddad-4193-85be-b9c5bcda684a","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":88,"box":{"x":352,"y":373,"width":404,"height":11}},{"id":"b08aa82b-67c6-45fe-8b5a-f4363613418c","block_type":"box","text":"property of the FoF Units","page_number":88,"box":{"x":353,"y":387,"width":184,"height":11}},{"id":"818df58d-03ad-4bfe-b886-7644d04eada7","block_type":"box","text":"Accounting Dates","page_number":88,"box":{"x":117,"y":433,"width":141,"height":11}},{"id":"f38dff27-4f3d-4a67-ab74-e1b7f48716b5","block_type":"box","text":"Annual Accounting Date","page_number":88,"box":{"x":116,"y":459,"width":180,"height":11}},{"id":"2dbdee2f-7ad1-46db-8c12-34f68e1284df","block_type":"box","text":"31 December","page_number":88,"box":{"x":353,"y":459,"width":100,"height":9}},{"id":"620d309a-78c2-4cc6-8fdd-2ca16b526be1","block_type":"box","text":"First Accounting Date","page_number":88,"box":{"x":118,"y":485,"width":158,"height":11}},{"id":"6751af4e-6a0a-4b77-9244-2796b76bcb32","block_type":"box","text":"31 December 2015","page_number":88,"box":{"x":353,"y":485,"width":141,"height":9}},{"id":"68a55ca4-72f1-42a2-99f6-bbf095d61d6e","block_type":"box","text":"Annual Income Allocation","page_number":88,"box":{"x":116,"y":511,"width":188,"height":9}},{"id":"e56f9e46-f46b-486f-a1c7-32580f2e7ee3","block_type":"box","text":"Date","page_number":88,"box":{"x":118,"y":525,"width":33,"height":8}},{"id":"3111ccf2-d26d-4668-95c3-63dcff3eea3c","block_type":"box","text":"On or before 28 /29 February","page_number":88,"box":{"x":353,"y":511,"width":217,"height":11}},{"id":"c2fc4b18-9dac-4d76-bd5e-dccf9f5a2917","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":88,"box":{"x":118,"y":551,"width":293,"height":11}},{"id":"23df5241-2675-4e35-ba44-a10d20806076","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":88,"box":{"x":62,"y":577,"width":861,"height":11}},{"id":"5eeb1cf2-5dca-4ec7-a9be-0ec386d7dc8d","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":88,"box":{"x":62,"y":591,"width":408,"height":11}},{"id":"beec6257-228d-487d-9973-e2488d4181c8","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":88,"box":{"x":62,"y":610,"width":642,"height":11}},{"id":"5e55cf74-49fe-4fbf-a9df-d797ab60e3ea","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":88,"box":{"x":62,"y":630,"width":860,"height":11}},{"id":"a1e932a3-d891-48ca-a697-3446eebbafcb","block_type":"box","text":"this Prospectus.","page_number":88,"box":{"x":62,"y":643,"width":117,"height":11}},{"id":"7250e2d7-b507-4282-a694-ad5d22b18cba","block_type":"box","text":"□","page_number":88,"box":{"x":62,"y":672,"width":5,"height":4}},{"id":"8c52d166-9d8e-415e-8c60-8fc3b5407717","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":88,"box":{"x":74,"y":671,"width":342,"height":8}},{"id":"70c818e3-5ea9-497f-9814-6816e8cc3780","block_type":"box","text":"#","page_number":88,"box":{"x":62,"y":697,"width":5,"height":6}},{"id":"dc6006e3-b132-46ce-aa40-152ae5859072","block_type":"box","text":"Prior to 7 April 2025 this Sub-Fund was called AI Sustainable Stewardship Fixed Interest Fund.","page_number":88,"box":{"x":69,"y":698,"width":702,"height":11}},{"id":"0cfbd7a8-d5f7-400b-8f5d-83a6062d32d2","block_type":"box","text":"Securities Financing and other Transactions:","page_number":88,"box":{"x":62,"y":731,"width":358,"height":11}},{"id":"bcc7769c-4fe7-4a1d-b9b6-aae85adad1ac","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":88,"box":{"x":62,"y":751,"width":860,"height":11}},{"id":"5fec724b-01b6-46dd-aaf2-ae1a8b6aefd0","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":88,"box":{"x":62,"y":764,"width":438,"height":12}},{"id":"1dec78c6-5a85-43ba-a3f1-590c4922b745","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":88,"box":{"x":62,"y":804,"width":861,"height":11}},{"id":"7186ce8d-700d-409f-849f-da4ee3a15233","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":88,"box":{"x":62,"y":817,"width":860,"height":12}},{"id":"da8b3b97-f0f1-4f1e-9e08-0e2699a382b1","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":88,"box":{"x":62,"y":831,"width":861,"height":11}},{"id":"f59309f1-2126-455d-9f93-350d0a7596e1","block_type":"box","text":"10%.","page_number":88,"box":{"x":63,"y":845,"width":35,"height":9}},{"id":"83f1f0ca-c79b-458d-a888-0339bbb03930","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":88,"box":{"x":62,"y":884,"width":860,"height":11}},{"id":"bc16f2e7-4925-438e-a1f4-8b46e40afff7","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":88,"box":{"x":62,"y":897,"width":860,"height":12}},{"id":"9ba9c54e-9279-4eb0-8168-176dbc54b4d1","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":89,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"b6c69cdb-1f19-4263-8bd7-bbd0f9a8a011","block_type":"box","text":"89","page_number":89,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"6b336e90-8a66-463b-8e21-44adce912568","block_type":"box","text":"Aviva Investors: Confidential","page_number":89,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"2ca2a676-702f-45e3-81cd-aacfa08ae06e","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":89,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"5b47bc90-eb1e-428b-bf7f-8a681838a3a8","block_type":"box","text":"is zero.","page_number":89,"box":{"x":62,"y":66,"width":52,"height":9}},{"id":"6c9e13ad-65ad-464a-af03-db9a9a0c4899","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":89,"box":{"x":62,"y":125,"width":249,"height":9}},{"id":"a881129d-cb62-4af2-ad24-3deeb5ea3749","block_type":"box","text":"Leverage","page_number":89,"box":{"x":63,"y":164,"width":72,"height":11}},{"id":"409e93e5-808d-4712-8d9c-53429ce53d77","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives, restricted to currency forwards and Interest Rate","page_number":89,"box":{"x":63,"y":184,"width":860,"height":11}},{"id":"d28e16c7-fb7d-40f8-8d27-c4884540dc78","block_type":"box","text":"Swaps, for the purpose of risk reduction or efficient portfolio management.","page_number":89,"box":{"x":62,"y":197,"width":548,"height":12}},{"id":"bd57e629-9c3c-41aa-9974-4e35fbfcabb1","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":89,"box":{"x":62,"y":230,"width":860,"height":12}},{"id":"44da234f-793c-45db-a182-a6958a1e7b08","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":89,"box":{"x":62,"y":244,"width":649,"height":11}},{"id":"c81421b8-f7ee-44a3-80af-e40978b37321","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":89,"box":{"x":62,"y":272,"width":755,"height":11}},{"id":"5fcfc785-8d93-4063-822f-1f579b790dc6","block_type":"box","text":"Permitted derivatives","page_number":89,"box":{"x":72,"y":302,"width":168,"height":8}},{"id":"af698597-9d91-487f-93bd-e63370442587","block_type":"box","text":"Permitted?","page_number":89,"box":{"x":383,"y":302,"width":85,"height":8}},{"id":"b22b33c6-a855-411c-91ae-fd12da5ecd38","block_type":"box","text":"Prohibited?","page_number":89,"box":{"x":489,"y":302,"width":91,"height":8}},{"id":"a96638ab-30a4-4462-b27c-a40814a6afd7","block_type":"box","text":"Equity index futures","page_number":89,"box":{"x":72,"y":322,"width":146,"height":11}},{"id":"934d15cf-fcd9-477c-9273-5112204382a4","block_type":"box","text":"√","page_number":89,"box":{"x":530,"y":322,"width":8,"height":8}},{"id":"c3783889-38df-4a39-807f-e0fa14096bbc","block_type":"box","text":"Government bond futures","page_number":89,"box":{"x":72,"y":340,"width":188,"height":9}},{"id":"0a916612-8a81-4d73-bb95-6778ec4493fc","block_type":"box","text":"√","page_number":89,"box":{"x":421,"y":341,"width":8,"height":8}},{"id":"5e357423-6ef7-4472-a019-a529d0183e5f","block_type":"box","text":"Equity index options","page_number":89,"box":{"x":72,"y":359,"width":148,"height":11}},{"id":"e8efd433-9475-43a6-8fc0-024f2cde747a","block_type":"box","text":"√","page_number":89,"box":{"x":530,"y":359,"width":8,"height":8}},{"id":"c4fb6bc1-1de6-4f43-91ac-9ac1483aa03a","block_type":"box","text":"Forward foreign exchange","page_number":89,"box":{"x":72,"y":377,"width":193,"height":11}},{"id":"6d62de48-aed3-4ff6-9ada-5fb35d23d601","block_type":"box","text":"√","page_number":89,"box":{"x":421,"y":378,"width":8,"height":7}},{"id":"f42d5d39-276a-4510-9942-3d7df7254884","block_type":"box","text":"Index credit default swaps","page_number":89,"box":{"x":72,"y":396,"width":192,"height":11}},{"id":"65ba3d91-5798-4039-b021-5534456b1902","block_type":"box","text":"√","page_number":89,"box":{"x":530,"y":396,"width":8,"height":8}},{"id":"7a8e2d1b-1288-4a95-bce3-d6d31a7c2aea","block_type":"box","text":"Interest rate swaps","page_number":89,"box":{"x":72,"y":414,"width":140,"height":11}},{"id":"48723a1d-626f-4d51-b10d-44641ca83753","block_type":"box","text":"√","page_number":89,"box":{"x":421,"y":415,"width":8,"height":7}},{"id":"f721e4f9-fdfb-4f24-8de7-986f6510dbfb","block_type":"box","text":"OTC equity options","page_number":89,"box":{"x":72,"y":432,"width":142,"height":12}},{"id":"d16c5ada-328a-45ed-ba3d-a3782eb62ebb","block_type":"box","text":"√","page_number":89,"box":{"x":530,"y":433,"width":8,"height":8}},{"id":"40cdc66d-1b1a-430f-9134-0354fa32d787","block_type":"box","text":"Inflation swaps","page_number":89,"box":{"x":72,"y":451,"width":109,"height":11}},{"id":"6bce6b6b-2bb1-4a44-b7c3-64cf1caead46","block_type":"box","text":"√","page_number":89,"box":{"x":530,"y":451,"width":8,"height":8}},{"id":"fb6d716a-d71d-4ceb-9e7e-1c968274eebe","block_type":"box","text":"Cross currency swaps","page_number":89,"box":{"x":72,"y":469,"width":163,"height":11}},{"id":"59532986-bb80-4554-aa69-467cfb8073a2","block_type":"box","text":"√","page_number":89,"box":{"x":530,"y":470,"width":8,"height":7}},{"id":"f00cb3b4-1f69-40ac-ad06-f011f433434c","block_type":"box","text":"Other","page_number":89,"box":{"x":72,"y":488,"width":41,"height":9}},{"id":"5a18fc7f-944f-479a-99eb-366b1c6de6fb","block_type":"box","text":"√","page_number":89,"box":{"x":530,"y":488,"width":8,"height":8}},{"id":"26740d0e-4506-4030-9126-33836a139395","block_type":"box","text":"Leverage Limits","page_number":89,"box":{"x":63,"y":529,"width":128,"height":11}},{"id":"66f6d5e8-b1e1-4f34-b9db-f56a24119270","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":89,"box":{"x":200,"y":529,"width":722,"height":12}},{"id":"c87ecdfd-f2fd-4c32-b8ae-3bee176045c9","block_type":"box","text":"Regime):","page_number":89,"box":{"x":63,"y":543,"width":65,"height":11}},{"id":"40e2b977-dec5-4b57-bebf-754214a40838","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":89,"box":{"x":62,"y":570,"width":471,"height":12}},{"id":"aa741fcc-6187-46bc-8440-4f2506cf06a3","block_type":"box","text":"","page_number":89,"box":{"x":62,"y":602,"width":6,"height":4}},{"id":"9c956678-f302-4ab4-a87b-311adde2c1db","block_type":"box","text":"Gross Method: Up to 1.4:1","page_number":89,"box":{"x":92,"y":598,"width":193,"height":11}},{"id":"8994a73b-02b4-4af1-9e4e-913246c13f9c","block_type":"box","text":"","page_number":89,"box":{"x":62,"y":618,"width":6,"height":4}},{"id":"599c6b1f-1c1b-4a68-b2ff-422488d4199a","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":89,"box":{"x":92,"y":615,"width":183,"height":11}},{"id":"45562da3-d240-41bf-a2a2-80dad3a8900f","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":89,"box":{"x":62,"y":642,"width":860,"height":12}},{"id":"6206dacb-ea21-4d93-b652-4694ea545453","block_type":"box","text":"which case leverage will not exceed the following:","page_number":89,"box":{"x":62,"y":656,"width":368,"height":11}},{"id":"debea779-8cfb-4d80-a2e8-35bd90f4eabb","block_type":"box","text":"","page_number":89,"box":{"x":62,"y":687,"width":6,"height":5}},{"id":"05a38764-36e5-4f31-951a-0fb445920be1","block_type":"box","text":"Gross Method: Up to 2.0:1","page_number":89,"box":{"x":92,"y":684,"width":193,"height":11}},{"id":"ceac3fa4-a84d-4633-b29e-6bdfc548f25a","block_type":"box","text":"","page_number":89,"box":{"x":62,"y":704,"width":6,"height":4}},{"id":"80a09c2f-4fa0-4597-98b2-3a8fc3906168","block_type":"box","text":"Commitment: Up to 1.5:1","page_number":89,"box":{"x":92,"y":701,"width":183,"height":11}},{"id":"52d004bd-6fa1-4e68-8191-c9d7912f101f","block_type":"box","text":"Specific Risks","page_number":89,"box":{"x":62,"y":768,"width":113,"height":11}},{"id":"632f5cb2-2ccf-4a86-a09c-35c6739980f2","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":89,"box":{"x":181,"y":768,"width":462,"height":11}},{"id":"7cfb40bd-86a0-4ab2-a426-2895b07ce981","block_type":"box","text":"","page_number":89,"box":{"x":62,"y":791,"width":6,"height":4}},{"id":"9b551b7f-039d-485e-87d3-2c5a971ccdcf","block_type":"box","text":"Fixed Interest","page_number":89,"box":{"x":93,"y":788,"width":100,"height":9}},{"id":"4c8378ab-5c66-4995-b93b-74f692d882cd","block_type":"box","text":"","page_number":89,"box":{"x":62,"y":806,"width":6,"height":4}},{"id":"771f0740-2ec4-47ba-a5db-c02864af306b","block_type":"box","text":"Specialist","page_number":89,"box":{"x":92,"y":802,"width":71,"height":12}},{"id":"ec2888cd-2023-4dc4-93d2-084ff66d29e0","block_type":"box","text":"","page_number":89,"box":{"x":62,"y":820,"width":6,"height":4}},{"id":"69043c08-72b7-4ba4-a9be-f900a73e830c","block_type":"box","text":"Index-Linked","page_number":89,"box":{"x":93,"y":817,"width":93,"height":9}},{"id":"6a388d4a-6a05-4ef5-9b2e-1b9a9f87867a","block_type":"box","text":"","page_number":89,"box":{"x":62,"y":835,"width":6,"height":4}},{"id":"daf2c447-d9f2-424b-9161-2ff1e41a4c5d","block_type":"box","text":"Environmental, Social and Governance","page_number":89,"box":{"x":93,"y":831,"width":289,"height":11}},{"id":"32b20161-5cb5-45ab-9899-c3dba983d6ff","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":90,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"d0e32179-9b85-41f9-945f-cc23ab50cf4f","block_type":"box","text":"90","page_number":90,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"d7ec5293-2377-42fa-8a9a-27cf15fe6caf","block_type":"box","text":"Aviva Investors: Confidential","page_number":90,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"1a4c744b-935c-4ae1-8f6e-cabe75cc632f","block_type":"box","text":"Past Performance – AI Stewardship Fixed Interest Fund","page_number":90,"box":{"x":72,"y":59,"width":440,"height":11}},{"id":"24883879-bc6e-4b53-a879-ab699257b049","block_type":"box","text":"% Growth","page_number":90,"box":{"x":71,"y":79,"width":77,"height":9}},{"id":"c47fa038-63b3-42e6-8a51-293a1fb5f95a","block_type":"box","text":"1/1/2024 to","page_number":90,"box":{"x":290,"y":104,"width":94,"height":8}},{"id":"9e76f995-aaf9-45bf-9ae8-22a786afd43b","block_type":"box","text":"31/12/2024","page_number":90,"box":{"x":289,"y":117,"width":75,"height":8}},{"id":"cec5dc34-a88e-40eb-9254-757e9dac37c0","block_type":"box","text":"1/1/2023 to","page_number":90,"box":{"x":404,"y":104,"width":94,"height":8}},{"id":"8fe42994-c24b-4849-82a7-6a9e8c6e99d8","block_type":"box","text":"31/12/2023","page_number":90,"box":{"x":403,"y":117,"width":75,"height":8}},{"id":"bcb169f5-b72d-4576-87c5-336ec240062d","block_type":"box","text":"1/1/2022 to","page_number":90,"box":{"x":517,"y":104,"width":94,"height":8}},{"id":"0ab04f81-c913-48c0-bb3f-722aaa5bc12e","block_type":"box","text":"31/12/2022","page_number":90,"box":{"x":516,"y":117,"width":75,"height":8}},{"id":"2cb90de1-6562-428f-b539-1d37fde3a1ab","block_type":"box","text":"1/1/2021 to","page_number":90,"box":{"x":631,"y":104,"width":94,"height":8}},{"id":"305c3700-00f4-4beb-8775-2776f1511730","block_type":"box","text":"31/12/2021","page_number":90,"box":{"x":630,"y":117,"width":73,"height":8}},{"id":"cfdabd10-c362-4570-9c16-cf8500ff81cd","block_type":"box","text":"1/1/2020 to","page_number":90,"box":{"x":744,"y":104,"width":94,"height":8}},{"id":"4026762f-b054-4a32-a217-fe325b37ef08","block_type":"box","text":"31/12/2020","page_number":90,"box":{"x":743,"y":117,"width":75,"height":8}},{"id":"72e4f123-e55e-4d39-892e-070fa5eefb41","block_type":"box","text":"UK Corporate Income","page_number":90,"box":{"x":72,"y":141,"width":198,"height":11}},{"id":"594db040-dbcc-4ee2-9ed4-dd8b9f1d1514","block_type":"box","text":"Distribution Units (%)","page_number":90,"box":{"x":72,"y":154,"width":140,"height":10}},{"id":"5c31b8fa-ebed-4b7b-a7df-a7390c199dde","block_type":"box","text":"2.54","page_number":90,"box":{"x":289,"y":142,"width":29,"height":8}},{"id":"023b2e4e-7e35-418a-8baf-48264da3ec77","block_type":"box","text":"8.68","page_number":90,"box":{"x":403,"y":142,"width":28,"height":8}},{"id":"1185e83d-3479-49fb-97c0-f70ccf516045","block_type":"box","text":"-17.14","page_number":90,"box":{"x":517,"y":142,"width":42,"height":7}},{"id":"e91b8166-8752-47da-bd20-c70be0773c7e","block_type":"box","text":"-3.7","page_number":90,"box":{"x":630,"y":142,"width":25,"height":8}},{"id":"3a3eb7c0-3e7f-458b-971e-93837f7521f9","block_type":"box","text":"9","page_number":90,"box":{"x":743,"y":142,"width":8,"height":8}},{"id":"304eeccf-5912-4042-8596-103b96697ca5","block_type":"box","text":"Insured Pension Income","page_number":90,"box":{"x":72,"y":185,"width":198,"height":7}},{"id":"3ea5c6fc-53f8-4107-b3dd-e8acaac644bf","block_type":"box","text":"Distribution Units (%)","page_number":90,"box":{"x":72,"y":197,"width":140,"height":10}},{"id":"f0ad1219-5ea8-409e-9fb5-d69b6a9de55d","block_type":"box","text":"UK Institutional Accumulation","page_number":90,"box":{"x":72,"y":222,"width":198,"height":8}},{"id":"55fc843c-0b33-4201-bcb4-e11c6417bfb2","block_type":"box","text":"Units (%)","page_number":90,"box":{"x":72,"y":234,"width":60,"height":10}},{"id":"7ca9588a-5278-4cfc-98de-993dcf5d9451","block_type":"box","text":"2.49","page_number":90,"box":{"x":289,"y":222,"width":29,"height":8}},{"id":"d4daa9d3-448e-42d9-b15b-ddeaf43f3035","block_type":"box","text":"8.68","page_number":90,"box":{"x":403,"y":222,"width":28,"height":8}},{"id":"a9462be5-00b4-4e53-b3ee-72b548b30cc2","block_type":"box","text":"-17.12","page_number":90,"box":{"x":517,"y":222,"width":41,"height":7}},{"id":"0ed95414-b4a1-4a78-a122-5ac74b15c2dd","block_type":"box","text":"-3.7","page_number":90,"box":{"x":630,"y":222,"width":25,"height":8}},{"id":"7c65d995-9898-403a-8ecb-1169344a2e19","block_type":"box","text":"9","page_number":90,"box":{"x":743,"y":222,"width":8,"height":8}},{"id":"9d52e8d3-2c41-4f84-99e8-2e490a0fc8b2","block_type":"box","text":"ACS (Fund of Fund)","page_number":90,"box":{"x":71,"y":265,"width":199,"height":10}},{"id":"be143a49-5a4c-4bd0-b635-4dc2b3a1f00d","block_type":"box","text":"Accumulation Units Class 1","page_number":90,"box":{"x":71,"y":277,"width":197,"height":8}},{"id":"11560511-335b-419a-828d-3f6cdbb0dc03","block_type":"box","text":"(%)","page_number":90,"box":{"x":72,"y":289,"width":21,"height":10}},{"id":"afd9a244-12bf-4251-80e3-74b2ab683fd8","block_type":"box","text":"ACS (Fund of Fund)","page_number":90,"box":{"x":71,"y":314,"width":199,"height":10}},{"id":"8db8f820-04e0-4e1e-9e6c-f929a0228b65","block_type":"box","text":"Accumulation Units Class 2","page_number":90,"box":{"x":71,"y":326,"width":199,"height":8}},{"id":"e1acc5ca-ce3d-430c-a20c-9c67552b3a00","block_type":"box","text":"(%)","page_number":90,"box":{"x":72,"y":338,"width":21,"height":10}},{"id":"2a9ec83b-afff-4f22-b2dc-058395fd08fb","block_type":"box","text":"UK Corporate Accumulation","page_number":90,"box":{"x":72,"y":363,"width":198,"height":10}},{"id":"f15ca343-40be-47a0-a141-181cfb2b522a","block_type":"box","text":"Units (%)","page_number":90,"box":{"x":72,"y":375,"width":60,"height":11}},{"id":"cec6982f-2086-4679-80a6-053d46ac66f6","block_type":"box","text":"Insured Pension","page_number":90,"box":{"x":72,"y":400,"width":198,"height":8}},{"id":"22984422-a557-4608-8a72-68f5fa21bdf6","block_type":"box","text":"Accumulation Units (%)","page_number":90,"box":{"x":71,"y":413,"width":156,"height":10}},{"id":"9dda78f7-ace1-499f-8e9e-48f8c82446f5","block_type":"box","text":"2.56","page_number":90,"box":{"x":289,"y":401,"width":29,"height":7}},{"id":"5c94f118-75aa-4d72-bd6a-9b5fb32737d2","block_type":"box","text":"8.71","page_number":90,"box":{"x":403,"y":401,"width":26,"height":7}},{"id":"cc87d711-2a98-412f-9191-545ccacbe3c7","block_type":"box","text":"-17.16","page_number":90,"box":{"x":517,"y":401,"width":42,"height":7}},{"id":"6403b1dc-95e1-4204-8b48-cf153bd9ba18","block_type":"box","text":"-3.6","page_number":90,"box":{"x":630,"y":401,"width":25,"height":7}},{"id":"c6339fd4-bea3-41d6-a321-398de3f50d79","block_type":"box","text":"8.9","page_number":90,"box":{"x":743,"y":401,"width":20,"height":7}},{"id":"eee353c2-cb74-4646-9c09-1191912512c3","block_type":"box","text":"UK Fund of Fund","page_number":90,"box":{"x":72,"y":443,"width":198,"height":8}},{"id":"ccaae8e2-54d5-4580-bccf-bb65c72b3b4c","block_type":"box","text":"Accumulation Units (%)","page_number":90,"box":{"x":71,"y":456,"width":156,"height":10}},{"id":"17185cef-3dbc-4c56-a7a3-88524391d534","block_type":"box","text":"2.58","page_number":90,"box":{"x":289,"y":444,"width":29,"height":7}},{"id":"63519e0e-5c40-4e38-abbb-7ced79786f57","block_type":"box","text":"N/A","page_number":90,"box":{"x":404,"y":443,"width":24,"height":8}},{"id":"6fe4b89e-a1f7-4d55-b8da-11a6ea864b09","block_type":"box","text":"UK Feeder Fund","page_number":90,"box":{"x":72,"y":481,"width":198,"height":7}},{"id":"f5be53cc-233e-42e2-876f-650420ba564d","block_type":"box","text":"Accumulation Units (%)","page_number":90,"box":{"x":71,"y":493,"width":156,"height":10}},{"id":"37c73c7b-1632-4c1e-860d-03f4fafc96ab","block_type":"box","text":"2.57","page_number":90,"box":{"x":289,"y":481,"width":29,"height":7}},{"id":"c6b92ffa-ecba-44a6-beca-27d00b7e0fbc","block_type":"box","text":"8.73","page_number":90,"box":{"x":403,"y":481,"width":29,"height":7}},{"id":"cfd4f26a-6904-4fa0-854e-96f8a11dee52","block_type":"box","text":"-17.17","page_number":90,"box":{"x":517,"y":481,"width":42,"height":7}},{"id":"d42a6aa1-80b6-4ca4-82ee-409f06f6966f","block_type":"box","text":"N/A","page_number":90,"box":{"x":631,"y":480,"width":24,"height":8}},{"id":"a72fc8c0-c86b-446b-ad98-9f269017e699","block_type":"box","text":"N/A","page_number":90,"box":{"x":744,"y":480,"width":24,"height":8}},{"id":"c77a0897-721f-41e2-bb01-914fa8451da3","block_type":"box","text":"Index - Markit iBoxx® GBP","page_number":90,"box":{"x":72,"y":526,"width":200,"height":8}},{"id":"acd4a80b-a403-4e77-9f85-71b3f5084683","block_type":"box","text":"Non Gilt Total Return Index","page_number":90,"box":{"x":72,"y":538,"width":184,"height":9}},{"id":"901327fd-cd9f-40a9-9d9c-1d9636da77a8","block_type":"box","text":"1.71","page_number":90,"box":{"x":292,"y":527,"width":26,"height":7}},{"id":"825c531c-03dc-431d-877a-a285c67fdf7b","block_type":"box","text":"8.60","page_number":90,"box":{"x":404,"y":527,"width":29,"height":7}},{"id":"6101c998-4ae8-406c-8dd8-5c8d9fc9c451","block_type":"box","text":"-17.72","page_number":90,"box":{"x":517,"y":527,"width":42,"height":7}},{"id":"434e524a-0371-4b06-8645-464b60ad2cf4","block_type":"box","text":"-3.1","page_number":90,"box":{"x":631,"y":527,"width":24,"height":7}},{"id":"35ba5913-7a9a-428b-b4dc-e1b25d200172","block_type":"box","text":"7.8","page_number":90,"box":{"x":745,"y":527,"width":20,"height":7}},{"id":"dae746c4-6b7c-4db6-8200-4804248e8955","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":91,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"3f5b9713-a6b8-40e4-ad4b-bb173d9cc16e","block_type":"box","text":"91","page_number":91,"box":{"x":787,"y":940,"width":10,"height":6}},{"id":"7d07bcd7-e97c-4567-b708-99b540a31e51","block_type":"box","text":"Aviva Investors: Confidential","page_number":91,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"9a49f614-1f60-46c5-a314-c0a7fa9523f9","block_type":"box","text":"AI UK Listed Equity Fund","page_number":91,"box":{"x":62,"y":53,"width":200,"height":11}},{"id":"ab39870d-6c12-43af-b265-fcdf59e144a7","block_type":"box","text":"FCA product reference number: 658296","page_number":91,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"9ad6666c-ca97-4945-8d3e-ce31d4768baf","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":91,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"d0924471-4ab3-435c-80ec-1f3636d7b4f4","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":91,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"dbe4c0a4-27ab-44d0-b44d-496fc6307cd8","block_type":"box","text":"Investment Objective and Policy","page_number":91,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"f9130b9b-cf34-42a7-bb62-55b60ef19d73","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of UK","page_number":91,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"1c6a2df0-659a-4df4-89e9-989b7d305a96","block_type":"box","text":"companies.","page_number":91,"box":{"x":62,"y":198,"width":84,"height":10}},{"id":"eba10d4a-c79a-4e06-9688-0085dd5db546","block_type":"box","text":"Core investment:","page_number":91,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"bf3fc713-a2a4-4279-8865-545a92387087","block_type":"box","text":"At least 80% of the Fund will be invested in shares of UK companies (incorporated or domiciled in the UK), or non UK","page_number":91,"box":{"x":62,"y":237,"width":862,"height":11}},{"id":"3ba682f8-247b-425d-a22f-e345242b232c","block_type":"box","text":"companies which are listed in the UK or which have significant trading activities in the UK.","page_number":91,"box":{"x":62,"y":250,"width":665,"height":11}},{"id":"318447f7-f3b7-44db-8366-5940bf8803e1","block_type":"box","text":"Other investments:","page_number":91,"box":{"x":62,"y":270,"width":151,"height":9}},{"id":"1242bec4-7e11-4eff-b67d-f80c6542ba06","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by the Investment Manager),","page_number":91,"box":{"x":62,"y":289,"width":860,"height":12}},{"id":"fcc13205-e690-4ed1-b1eb-9d394da112bb","block_type":"box","text":"derivatives, cash and deposits.","page_number":91,"box":{"x":62,"y":303,"width":228,"height":11}},{"id":"f0839baa-8f0b-4d77-b0c4-781c92538bf6","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":91,"box":{"x":63,"y":323,"width":860,"height":11}},{"id":"9ac4e164-8d01-4164-ba13-46faf77fad86","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":91,"box":{"x":62,"y":336,"width":861,"height":12}},{"id":"72b8ab08-01aa-4115-b2ec-c2ed9ee6bd19","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":91,"box":{"x":62,"y":350,"width":545,"height":11}},{"id":"31f4ead4-e372-4447-b553-8d4e5061298d","block_type":"box","text":"Strategy:","page_number":91,"box":{"x":62,"y":369,"width":70,"height":12}},{"id":"7074bc27-3aa6-4e97-b53e-c1a4c105d701","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager aims to achieve the Sub-Fund’s objective by","page_number":91,"box":{"x":62,"y":389,"width":861,"height":11}},{"id":"37970520-1bb4-431a-9548-fea4e9ac871a","block_type":"box","text":"identifying undervalued businesses that demonstrate balance sheet strength, pricing power and robust business","page_number":91,"box":{"x":62,"y":403,"width":861,"height":11}},{"id":"243d9af1-62d5-4cd1-a318-62ee17b57668","block_type":"box","text":"models that will see the shares outperform over the long term.","page_number":91,"box":{"x":62,"y":417,"width":458,"height":11}},{"id":"becb4ef6-4bf6-44fe-9741-8325e65b99b2","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":91,"box":{"x":62,"y":436,"width":527,"height":11}},{"id":"8e7fbbc2-773a-4fe5-aa64-96fdedb3980c","block_type":"box","text":"please see Appendix 2 for information on","page_number":91,"box":{"x":594,"y":436,"width":328,"height":11}},{"id":"f343bb00-9b5e-4962-bb37-2b90ed62790d","block_type":"box","text":"these limited investment restrictions.","page_number":91,"box":{"x":62,"y":450,"width":295,"height":9}},{"id":"5fbc6914-ceb5-4b2d-87a2-21ccc26d82db","block_type":"box","text":"Performance & Risk Measurement:","page_number":91,"box":{"x":63,"y":469,"width":275,"height":9}},{"id":"9e92dca3-e890-43d7-8be2-ed7313f1e6be","block_type":"box","text":"The Sub-Fund’s performance is compared against the FTSE® All Share Total Return Index (the “Index”)","page_number":91,"box":{"x":62,"y":489,"width":771,"height":11}},{"id":"5eb9232a-5d26-4c0f-a165-716a08da8430","block_type":"box","text":"□","page_number":91,"box":{"x":836,"y":490,"width":5,"height":4}},{"id":"d618d163-5b7a-416c-89d9-6d5aaf3c3668","block_type":"box","text":".","page_number":91,"box":{"x":843,"y":496,"width":2,"height":2}},{"id":"5fa8586a-e8c7-4e82-8986-1f15e9c1149f","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":91,"box":{"x":62,"y":508,"width":860,"height":12}},{"id":"650c505b-ffe3-46dc-8226-11a2432e4e6d","block_type":"box","text":"may also hold companies that do not form part of it. The Sub-Fund will not invest in shares of companies within the","page_number":91,"box":{"x":62,"y":522,"width":861,"height":11}},{"id":"32f4736a-9627-4b09-b940-c0b746800595","block_type":"box","text":"Aviva Group.","page_number":91,"box":{"x":62,"y":536,"width":95,"height":11}},{"id":"7ab3c32b-16f3-43bf-aace-e3284a85262b","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund’s returns and the returns of","page_number":91,"box":{"x":62,"y":555,"width":861,"height":12}},{"id":"e9be9208-733b-4524-b880-32ab7cfaa18d","block_type":"box","text":"the Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":91,"box":{"x":62,"y":569,"width":860,"height":11}},{"id":"67cd4242-a9a2-40d2-86e9-154491e7e912","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 1% and 3% compared","page_number":91,"box":{"x":62,"y":583,"width":860,"height":11}},{"id":"43f343dc-360a-4567-aa9f-34f9464dd276","block_type":"box","text":"to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":91,"box":{"x":62,"y":596,"width":571,"height":12}},{"id":"9291ba8f-2947-4fdc-a233-6a3f1ece55f4","block_type":"box","text":"The Index represents the performance of all eligible companies listed on the London Stock Exchange, and 98% of","page_number":91,"box":{"x":62,"y":616,"width":861,"height":11}},{"id":"ff0a77ab-0f99-46fa-ab1c-2fdacc83a743","block_type":"box","text":"the UK's market capitalisation (total market value of a company's outstanding shares).","page_number":91,"box":{"x":62,"y":630,"width":636,"height":11}},{"id":"a47c6363-e008-4d79-921e-11a2d00c3bf6","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":91,"box":{"x":62,"y":649,"width":861,"height":11}},{"id":"143585ec-47e5-450e-9446-1536bc8b0a42","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the","page_number":91,"box":{"x":62,"y":663,"width":861,"height":11}},{"id":"afb581d1-6421-4f44-b8d9-406a2b3e591f","block_type":"box","text":"Sub-Fund’s performance.","page_number":91,"box":{"x":62,"y":676,"width":187,"height":12}},{"id":"ee6ef6a0-2c13-4416-8be6-eaf4fdf31063","block_type":"box","text":"Additional Information","page_number":91,"box":{"x":62,"y":716,"width":177,"height":9}},{"id":"08991377-f518-4089-9925-4c49ac18282f","block_type":"box","text":"Investment Manager","page_number":91,"box":{"x":118,"y":742,"width":151,"height":11}},{"id":"579da9f0-3842-4651-9825-f7f89264669e","block_type":"box","text":"Schroder Investment Management Limited","page_number":91,"box":{"x":353,"y":742,"width":315,"height":11}},{"id":"dfb80b35-7d97-4d9c-bc0d-3939321ee26c","block_type":"box","text":"Type of Units","page_number":91,"box":{"x":116,"y":768,"width":98,"height":11}},{"id":"91060ba7-f0fe-44f9-bfff-85635812a434","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":91,"box":{"x":353,"y":768,"width":292,"height":11}},{"id":"666f1296-8855-4e2c-a201-11efe9c88f35","block_type":"box","text":"UK Corporate Accumulation Units","page_number":91,"box":{"x":353,"y":794,"width":250,"height":11}},{"id":"49337114-f07a-4d03-ad00-98b7b70d5b23","block_type":"box","text":"Insured Pension Income Distribution Units","page_number":91,"box":{"x":354,"y":820,"width":310,"height":9}},{"id":"f80d777f-1623-4c25-bab5-34ed8d10b2f8","block_type":"box","text":"UK Institutional Accumulation Units","page_number":91,"box":{"x":353,"y":847,"width":260,"height":8}},{"id":"b845e231-e262-4174-88ab-f7f23a4a5233","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 1)","page_number":91,"box":{"x":352,"y":873,"width":369,"height":11}},{"id":"88b54b87-9992-4b7a-a29e-5e8a81c403b8","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 2)","page_number":91,"box":{"x":352,"y":899,"width":369,"height":11}},{"id":"f05d7009-43fd-4722-99a0-3b3a1dc35e46","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":92,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"0010881d-be0f-40e8-bdf2-256b64832bb0","block_type":"box","text":"92","page_number":92,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"c7644607-896e-4037-983a-5a9bf5ddef22","block_type":"box","text":"Aviva Investors: Confidential","page_number":92,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"dcad2b64-50f8-4362-95e9-6e159df13382","block_type":"box","text":"Dealing Day","page_number":92,"box":{"x":118,"y":59,"width":89,"height":11}},{"id":"ad3e0559-963e-4fc0-a239-0b1b64fe91d1","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":92,"box":{"x":354,"y":59,"width":393,"height":11}},{"id":"e1e9b93f-a2ae-4188-aa39-8145b4b5544b","block_type":"box","text":"Deal Cut-Off Point","page_number":92,"box":{"x":118,"y":85,"width":134,"height":9}},{"id":"73cea8ed-d7ce-4cc0-87f9-0f10472aa43b","block_type":"box","text":"2.00 p.m.","page_number":92,"box":{"x":353,"y":86,"width":67,"height":10}},{"id":"c0c29db7-b556-4a09-839a-a6503fde2cf7","block_type":"box","text":"Valuation Point","page_number":92,"box":{"x":117,"y":111,"width":112,"height":9}},{"id":"44d445cc-a846-47f0-9a88-0361cb712632","block_type":"box","text":"3.00 p.m.","page_number":92,"box":{"x":353,"y":112,"width":67,"height":10}},{"id":"4d81bd0f-75fb-4ac0-88e0-0c801593096e","block_type":"box","text":"*Minimum Investment","page_number":92,"box":{"x":117,"y":138,"width":172,"height":8}},{"id":"1e4a22f2-dbf5-4a3b-b614-039a509c09d8","block_type":"box","text":"UK Corporate Income","page_number":92,"box":{"x":118,"y":163,"width":160,"height":12}},{"id":"5a4fd67b-27e3-4094-b888-92c2d71d9771","block_type":"box","text":"Distribution Units, Insured","page_number":92,"box":{"x":118,"y":177,"width":189,"height":10}},{"id":"8ca9d588-2372-415d-a048-5488be3f651c","block_type":"box","text":"Pension Income Distribution","page_number":92,"box":{"x":118,"y":191,"width":206,"height":9}},{"id":"59280304-bb4e-4d1b-adc3-7310aef59e12","block_type":"box","text":"Units,","page_number":92,"box":{"x":118,"y":205,"width":40,"height":10}},{"id":"3182820b-7725-4bb5-afb8-aac06cbb8736","block_type":"box","text":"UK Institutional","page_number":92,"box":{"x":165,"y":205,"width":111,"height":8}},{"id":"ae82d172-7f59-4998-9fce-457bf184bfe3","block_type":"box","text":"Accumulation Units, ACS","page_number":92,"box":{"x":116,"y":218,"width":187,"height":11}},{"id":"ba59233c-e126-4889-8895-4434b3ac912f","block_type":"box","text":"(Fund of Fund) Accumulation","page_number":92,"box":{"x":117,"y":232,"width":215,"height":11}},{"id":"345a8323-2301-48cf-ba28-60cb3d5d5ae4","block_type":"box","text":"Units (Class 1), ACS (Fund","page_number":92,"box":{"x":118,"y":245,"width":200,"height":11}},{"id":"17fe88ba-4d79-45f8-95e5-0f522f4e43e5","block_type":"box","text":"of Fund) Accumulation Units","page_number":92,"box":{"x":117,"y":259,"width":210,"height":11}},{"id":"19445cd5-4be5-40c9-a343-6c9b2c70c3ab","block_type":"box","text":"(Class 2)","page_number":92,"box":{"x":117,"y":273,"width":65,"height":11}},{"id":"a18c636d-4f63-4616-9657-ca48c03941a2","block_type":"box","text":"No minimum","page_number":92,"box":{"x":353,"y":164,"width":92,"height":8}},{"id":"16240b25-8df5-4e91-9a33-a724d0a28e20","block_type":"box","text":"Minimum withdrawal","page_number":92,"box":{"x":117,"y":299,"width":150,"height":9}},{"id":"736ac593-2f95-4fc8-a0a3-9fd174b25bff","block_type":"box","text":"No minimum","page_number":92,"box":{"x":353,"y":299,"width":92,"height":9}},{"id":"f64cb3fb-3011-48ce-9793-2bc4853ecc11","block_type":"box","text":"Tax Criteria for investment","page_number":92,"box":{"x":116,"y":325,"width":213,"height":9}},{"id":"822b3606-bcd9-4889-9b7b-6e5d88169578","block_type":"box","text":"UK Corporate Income","page_number":92,"box":{"x":118,"y":351,"width":160,"height":11}},{"id":"b64ac9a9-1b89-49bf-a49c-8a8f6aa179bd","block_type":"box","text":"Distribution Units","page_number":92,"box":{"x":118,"y":365,"width":124,"height":9}},{"id":"2d48f090-0fad-45f5-84da-ce2a2f7528f0","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":92,"box":{"x":352,"y":351,"width":404,"height":11}},{"id":"7c0295ef-09e2-468a-8933-d7ca3adbab27","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":92,"box":{"x":353,"y":365,"width":404,"height":11}},{"id":"acdf99a9-00df-4571-abd8-40e214e85fcb","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":92,"box":{"x":352,"y":379,"width":405,"height":11}},{"id":"70ec557e-1a77-455a-9ada-c2c3dc59ac4e","block_type":"box","text":"linked pension business contracts.","page_number":92,"box":{"x":353,"y":392,"width":253,"height":11}},{"id":"7101b499-1664-4e78-972e-7c0cd43f9c6d","block_type":"box","text":"UK Corporate Accumulation","page_number":92,"box":{"x":118,"y":418,"width":205,"height":11}},{"id":"67c285c9-d9ff-44e8-8b96-a3e324ddeccf","block_type":"box","text":"Units","page_number":92,"box":{"x":118,"y":432,"width":36,"height":9}},{"id":"629964d5-e9bc-4420-9037-4e57ef7a1240","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":92,"box":{"x":352,"y":418,"width":404,"height":11}},{"id":"13844d17-7ba9-47da-b040-a2616241024a","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":92,"box":{"x":353,"y":432,"width":404,"height":11}},{"id":"9d6ec61c-566c-47a9-a5c1-6840c835350a","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":92,"box":{"x":352,"y":446,"width":405,"height":11}},{"id":"56d9be62-a200-47b7-8595-71ed90711fd1","block_type":"box","text":"linked pension business contracts.","page_number":92,"box":{"x":353,"y":459,"width":253,"height":11}},{"id":"278896a5-230f-4863-8e0e-0b99bfbb5902","block_type":"box","text":"Insured Pension Income","page_number":92,"box":{"x":118,"y":485,"width":179,"height":9}},{"id":"927c62d9-ed43-4df9-ac33-a18c9b36e0b6","block_type":"box","text":"Distribution Units","page_number":92,"box":{"x":118,"y":499,"width":124,"height":9}},{"id":"6606a55d-93d0-4491-85db-cb4be96b1379","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":92,"box":{"x":352,"y":485,"width":404,"height":11}},{"id":"9a63ab7a-e814-4c0f-9035-5ed98864b6fc","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":92,"box":{"x":353,"y":499,"width":404,"height":11}},{"id":"a11f7b2c-1c91-4212-aac3-23a4131d59a6","block_type":"box","text":"back exclusively its unit linked pension business","page_number":92,"box":{"x":353,"y":513,"width":404,"height":11}},{"id":"b0b41199-45de-445f-b983-20e5f7636293","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":92,"box":{"x":353,"y":526,"width":404,"height":11}},{"id":"efbb5974-fd0b-43c5-b26b-d157f2c7899c","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":92,"box":{"x":353,"y":540,"width":307,"height":11}},{"id":"5db6bed7-d72a-4b5f-86c8-a55a5f6bc0a5","block_type":"box","text":"UK Institutional","page_number":92,"box":{"x":118,"y":566,"width":110,"height":9}},{"id":"99d5f432-0327-4f5a-aca9-6f70d13b3880","block_type":"box","text":"Accumulation Units","page_number":92,"box":{"x":116,"y":580,"width":143,"height":9}},{"id":"08e3b084-46fe-489f-83f4-a3b9dda42518","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":92,"box":{"x":352,"y":566,"width":404,"height":11}},{"id":"920b99c1-221d-4a68-a1f9-99c6029a9b6f","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":92,"box":{"x":353,"y":580,"width":403,"height":11}},{"id":"5813cd08-5959-46ab-b2ac-92b5e5ae9dbc","block_type":"box","text":"tax treaties.","page_number":92,"box":{"x":352,"y":594,"width":85,"height":8}},{"id":"191dbbaf-cb7c-42a9-bcf0-bff7c8f5ccda","block_type":"box","text":"ACS (Fund of Fund)","page_number":92,"box":{"x":116,"y":625,"width":149,"height":11}},{"id":"9872a807-e172-4826-80f2-e9ac5c89082b","block_type":"box","text":"Accumulation Units (Class","page_number":92,"box":{"x":116,"y":639,"width":195,"height":11}},{"id":"02e9b0ef-67bf-4eba-bebe-9157307f03e1","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":92,"box":{"x":118,"y":653,"width":171,"height":11}},{"id":"a821f9d5-c1d7-48a5-8c31-7685b447802c","block_type":"box","text":"Accumulation Units (Class 2)","page_number":92,"box":{"x":116,"y":666,"width":215,"height":12}},{"id":"f3c5f7ae-df32-4fd2-8d91-50dac9d40a34","block_type":"box","text":"A sub-fund of a UK authorised contractual scheme","page_number":92,"box":{"x":352,"y":626,"width":375,"height":8}},{"id":"5608f175-d844-4f8b-b05e-34b60028e45f","block_type":"box","text":"**Current Charges:","page_number":92,"box":{"x":117,"y":693,"width":149,"height":11}},{"id":"1a9671bc-ca89-4045-aec7-5fe612443a22","block_type":"box","text":"UK Corporate Income","page_number":92,"box":{"x":118,"y":719,"width":160,"height":11}},{"id":"1770bb1d-6d3d-4faf-b5ad-e540434a6afd","block_type":"box","text":"Distribution Units, UK","page_number":92,"box":{"x":118,"y":733,"width":158,"height":10}},{"id":"30451ba0-8459-407e-80fd-1ef702bca837","block_type":"box","text":"Corporate Accumulation","page_number":92,"box":{"x":117,"y":746,"width":178,"height":11}},{"id":"08b72474-cc8e-431e-a843-f532db5298cc","block_type":"box","text":"Units, Insured Pension","page_number":92,"box":{"x":118,"y":760,"width":166,"height":10}},{"id":"af39af7e-c20a-4a69-8a1e-12863d21ff68","block_type":"box","text":"Income Distribution Units,","page_number":92,"box":{"x":118,"y":773,"width":188,"height":11}},{"id":"724100a0-2e3d-4a94-82ff-ea6b319ad91c","block_type":"box","text":"UK Institutional","page_number":92,"box":{"x":118,"y":787,"width":110,"height":9}},{"id":"54737026-08db-4f8a-98c7-500d971c3244","block_type":"box","text":"Accumulation Units, ACS","page_number":92,"box":{"x":116,"y":801,"width":187,"height":10}},{"id":"70aff420-d50a-47db-adf5-6938aa18bb7d","block_type":"box","text":"(Fund of Fund) Accumulation","page_number":92,"box":{"x":117,"y":814,"width":215,"height":11}},{"id":"895e436c-42f7-4253-afbc-325df34147d5","block_type":"box","text":"Units (Class 1), ACS (Fund","page_number":92,"box":{"x":118,"y":828,"width":200,"height":11}},{"id":"973c800e-5f9f-4d4b-98ff-52f41bd66400","block_type":"box","text":"of Fund) Accumulation Units","page_number":92,"box":{"x":117,"y":842,"width":210,"height":11}},{"id":"e0722152-b52a-4a23-ab6c-fdfc8b2f6fae","block_type":"box","text":"(Class 2)","page_number":92,"box":{"x":117,"y":855,"width":65,"height":11}},{"id":"9e81cb82-5413-4427-b03d-de85258e3dfe","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":92,"box":{"x":352,"y":719,"width":404,"height":11}},{"id":"00f5d4d9-7f44-4cee-adce-17331e7e3290","block_type":"box","text":"Unitholder***","page_number":92,"box":{"x":353,"y":733,"width":94,"height":8}},{"id":"63751d41-c5ff-4cb2-94b7-ce43c5709297","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":92,"box":{"x":352,"y":752,"width":404,"height":11}},{"id":"3a8bbc75-6514-4689-bc5f-c7e6154cabf6","block_type":"box","text":"property","page_number":92,"box":{"x":353,"y":766,"width":60,"height":11}},{"id":"502408fa-0cbd-47c1-8794-493ba39054d0","block_type":"box","text":"Accounting Dates","page_number":92,"box":{"x":117,"y":882,"width":141,"height":11}},{"id":"d4e09ebe-de4d-470a-8aa5-559897ce6136","block_type":"box","text":"Annual Accounting Date","page_number":92,"box":{"x":116,"y":908,"width":180,"height":11}},{"id":"493073c0-09f5-446a-bf52-0d5a71272771","block_type":"box","text":"31 December","page_number":92,"box":{"x":353,"y":908,"width":100,"height":9}},{"id":"a7aa0d2e-d29c-4540-826a-2d1c862ed0b4","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":93,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"844d9e3f-1063-497f-b1c5-2229cac2e18a","block_type":"box","text":"93","page_number":93,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"1765f18c-4325-4b6f-ae53-18f3777a63c2","block_type":"box","text":"Aviva Investors: Confidential","page_number":93,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"6ae2c95a-c26c-4c6c-adb3-e49934a96a88","block_type":"box","text":"First Accounting Date","page_number":93,"box":{"x":118,"y":59,"width":158,"height":11}},{"id":"bdca3c7d-6f79-406d-bbcb-d303493521e3","block_type":"box","text":"31 December 2015","page_number":93,"box":{"x":353,"y":59,"width":141,"height":9}},{"id":"27f387cc-4f4d-4859-9ef5-916b17016143","block_type":"box","text":"Annual Income Allocation","page_number":93,"box":{"x":116,"y":85,"width":188,"height":9}},{"id":"2a4e6cbd-7d4e-4118-abd2-204eb4301172","block_type":"box","text":"Date","page_number":93,"box":{"x":118,"y":99,"width":33,"height":9}},{"id":"a53ac388-e5f4-4645-acc0-6f9a9798070c","block_type":"box","text":"On or before 28 /29 February","page_number":93,"box":{"x":353,"y":85,"width":217,"height":11}},{"id":"6c6a7e9a-16d5-4229-9cf6-ccec81a65c45","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":93,"box":{"x":118,"y":125,"width":293,"height":11}},{"id":"098d082e-42b3-4457-a21a-519d9de11c4a","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":93,"box":{"x":62,"y":151,"width":861,"height":11}},{"id":"100ff2ec-764e-4262-8781-5164689eacbd","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":93,"box":{"x":62,"y":165,"width":408,"height":11}},{"id":"3fb193f2-5278-4fc9-9153-05fc23c800f5","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":93,"box":{"x":62,"y":184,"width":642,"height":12}},{"id":"8b521d07-96e8-4ebd-b86a-dff9cdc3fe4d","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":93,"box":{"x":62,"y":204,"width":860,"height":11}},{"id":"5425721c-f75e-4f6c-8546-26f3ffe4c331","block_type":"box","text":"this Prospectus.","page_number":93,"box":{"x":62,"y":218,"width":117,"height":11}},{"id":"6ab978c1-9399-4fd4-8fdb-c820eaa871ff","block_type":"box","text":"*** In certain circumstances where one Sub-Fund of the Scheme invests in Units of another, the ACS Management","page_number":93,"box":{"x":62,"y":237,"width":861,"height":11}},{"id":"09c9151e-0571-4e14-97d7-b1c2a799badc","block_type":"box","text":"charge will not be charged to the investing Sub-Fund. Further information is provided at paragraph 5.8 of Appendix 6","page_number":93,"box":{"x":62,"y":251,"width":861,"height":11}},{"id":"803e0ab4-ccbf-4af2-a4e1-7ccff4ec1175","block_type":"box","text":"below.","page_number":93,"box":{"x":62,"y":265,"width":46,"height":8}},{"id":"b48f66cb-3cad-4f5d-a311-b57d24df86cd","block_type":"box","text":"□","page_number":93,"box":{"x":62,"y":285,"width":5,"height":4}},{"id":"f0214503-4b08-452c-b460-1d088b79970d","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":93,"box":{"x":74,"y":284,"width":342,"height":9}},{"id":"d1e55b41-8d3e-4818-a8cc-221aed98447a","block_type":"box","text":"Securities Financing and other Transactions:","page_number":93,"box":{"x":62,"y":323,"width":358,"height":11}},{"id":"77112539-40cc-4a7a-a68f-2da3d04ed794","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":93,"box":{"x":62,"y":343,"width":860,"height":11}},{"id":"345083a1-6cbb-4ad3-b4bf-8c88b71a978e","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":93,"box":{"x":62,"y":356,"width":438,"height":12}},{"id":"b6f4aadc-7ccc-4834-8635-aec4b697e509","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":93,"box":{"x":62,"y":384,"width":861,"height":11}},{"id":"3741e303-8f07-4e08-becd-43ca7f17b7ca","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":93,"box":{"x":62,"y":397,"width":860,"height":12}},{"id":"6a60868e-dc3e-42f2-855c-76506038cb6b","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":93,"box":{"x":62,"y":411,"width":861,"height":11}},{"id":"c65f2e71-b57d-45c1-982e-4ae721caed5e","block_type":"box","text":"15%.","page_number":93,"box":{"x":63,"y":425,"width":35,"height":9}},{"id":"b4ad2c64-a910-4969-9a70-b38c21059470","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":93,"box":{"x":62,"y":452,"width":860,"height":11}},{"id":"c1736e41-78db-4283-a54c-882825a4fee6","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":93,"box":{"x":62,"y":466,"width":860,"height":11}},{"id":"dd24dc88-630e-420f-92c4-b0afa81e8bdc","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":93,"box":{"x":62,"y":479,"width":861,"height":12}},{"id":"9e17bb11-e199-4ccb-84d7-c646510d5878","block_type":"box","text":"is zero.","page_number":93,"box":{"x":62,"y":493,"width":52,"height":9}},{"id":"5ef5b3f4-f4aa-4e06-bdfa-6e82713b6670","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":93,"box":{"x":62,"y":540,"width":249,"height":9}},{"id":"3f2705ea-06a2-4003-8ddc-b18d82d51724","block_type":"box","text":"Leverage","page_number":93,"box":{"x":63,"y":579,"width":72,"height":11}},{"id":"e6435314-e533-416d-b0a1-13cef1fc768e","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":93,"box":{"x":63,"y":599,"width":860,"height":11}},{"id":"b54c7ed3-58b1-4d17-99f3-55fef32b62a4","block_type":"box","text":"management.","page_number":93,"box":{"x":62,"y":613,"width":101,"height":11}},{"id":"6df51806-82eb-43a8-9481-16c221a4760c","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":93,"box":{"x":62,"y":646,"width":860,"height":11}},{"id":"791bc21c-361e-43f9-84d2-a4f372c8f5a0","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":93,"box":{"x":62,"y":659,"width":649,"height":12}},{"id":"ac2f6b26-005b-42fd-8ab0-d2fa6be1c8a3","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":93,"box":{"x":62,"y":687,"width":755,"height":11}},{"id":"19a13147-945f-42b7-a0a8-b271f5890544","block_type":"box","text":"Permitted derivatives","page_number":93,"box":{"x":72,"y":717,"width":168,"height":9}},{"id":"bcee1734-a728-40d9-88af-63d67b80cb84","block_type":"box","text":"Permitted?","page_number":93,"box":{"x":383,"y":717,"width":85,"height":9}},{"id":"a52d1163-36cf-44d4-96a1-6052303bd9cc","block_type":"box","text":"Prohibited?","page_number":93,"box":{"x":489,"y":717,"width":91,"height":9}},{"id":"893a6ff3-5432-4d08-bf39-14ef7cc8008b","block_type":"box","text":"Equity index futures","page_number":93,"box":{"x":72,"y":737,"width":146,"height":11}},{"id":"7ee2f71e-90a9-43ed-9f4a-46c8c8592abe","block_type":"box","text":"√","page_number":93,"box":{"x":421,"y":737,"width":8,"height":8}},{"id":"e082ade1-b857-4833-94c4-6a270905b60a","block_type":"box","text":"Government bond futures","page_number":93,"box":{"x":72,"y":755,"width":188,"height":9}},{"id":"8548af98-d907-4e57-87ac-181d3163edb4","block_type":"box","text":"√","page_number":93,"box":{"x":530,"y":756,"width":8,"height":8}},{"id":"dfb00971-06ae-4a85-8a33-98b2d1840f38","block_type":"box","text":"Equity index options","page_number":93,"box":{"x":72,"y":774,"width":148,"height":11}},{"id":"bb0f82d4-d81b-4eff-bf54-28760b19eef4","block_type":"box","text":"√","page_number":93,"box":{"x":421,"y":774,"width":8,"height":8}},{"id":"b970457e-42c1-479e-b26e-114d85d8dc37","block_type":"box","text":"Forward foreign exchange","page_number":93,"box":{"x":72,"y":792,"width":193,"height":12}},{"id":"b35b5625-4b43-48ed-84ce-142401c1b4bc","block_type":"box","text":"√","page_number":93,"box":{"x":421,"y":793,"width":8,"height":7}},{"id":"532fce8f-f49b-4578-86ea-e6e2784fe869","block_type":"box","text":"Index credit default swaps","page_number":93,"box":{"x":72,"y":811,"width":192,"height":11}},{"id":"6fb69f71-42e1-4cd8-a02e-b7bb86d58760","block_type":"box","text":"√","page_number":93,"box":{"x":530,"y":811,"width":8,"height":8}},{"id":"285f5265-e83f-44a5-bba8-ef739e035fe3","block_type":"box","text":"Interest rate swaps","page_number":93,"box":{"x":72,"y":829,"width":140,"height":11}},{"id":"30728b19-1338-49b1-aa51-6e055ec7d38d","block_type":"box","text":"√","page_number":93,"box":{"x":530,"y":830,"width":8,"height":7}},{"id":"2bd04660-7050-4233-a391-6a2bcb55d75a","block_type":"box","text":"OTC equity options","page_number":93,"box":{"x":72,"y":847,"width":142,"height":12}},{"id":"ad8e25b3-2821-4d6e-89d1-0d3e3dfecfd5","block_type":"box","text":"√","page_number":93,"box":{"x":421,"y":848,"width":8,"height":8}},{"id":"1bcd8cae-16e9-40e7-8019-b9babeac15f5","block_type":"box","text":"Inflation swaps","page_number":93,"box":{"x":72,"y":866,"width":109,"height":11}},{"id":"329b181c-db5c-4224-a908-6da93655c033","block_type":"box","text":"√","page_number":93,"box":{"x":530,"y":866,"width":8,"height":8}},{"id":"62552d30-2b0c-4bb8-b16b-3bb968787308","block_type":"box","text":"Cross currency swaps","page_number":93,"box":{"x":72,"y":884,"width":163,"height":12}},{"id":"c0e22be1-533c-414c-b11f-9d2e51d31e11","block_type":"box","text":"√","page_number":93,"box":{"x":530,"y":885,"width":8,"height":8}},{"id":"21b74991-f229-429d-ac81-223534b21da7","block_type":"box","text":"Other","page_number":93,"box":{"x":72,"y":903,"width":41,"height":9}},{"id":"e2d771c3-a9ae-4c46-9534-0012b0696a37","block_type":"box","text":"√","page_number":93,"box":{"x":530,"y":903,"width":8,"height":8}},{"id":"7534edd5-fe04-4079-9c6e-5812152d41fa","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":94,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"4eef02d3-c3b2-4b25-9a56-52cec8994111","block_type":"box","text":"94","page_number":94,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"8c09f7f5-0a5a-42c0-8202-5a32a2d79da4","block_type":"box","text":"Aviva Investors: Confidential","page_number":94,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"812b0910-19ec-4614-8f5a-d400b16ffbd3","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":94,"box":{"x":63,"y":52,"width":860,"height":12}},{"id":"6be6dd1d-dab0-4c82-9ace-99d16795c1a7","block_type":"box","text":"2)","page_number":94,"box":{"x":62,"y":66,"width":13,"height":11}},{"id":"af260491-6f5b-4ecb-84e4-cc6e66a6e6f9","block_type":"box","text":"Leverage Limits","page_number":94,"box":{"x":63,"y":94,"width":128,"height":11}},{"id":"90fa68da-81b3-4886-b311-de44862370ce","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":94,"box":{"x":200,"y":93,"width":722,"height":12}},{"id":"41352021-e52a-4791-b4b9-c84fbb1f3917","block_type":"box","text":"Regime):","page_number":94,"box":{"x":63,"y":107,"width":65,"height":11}},{"id":"6c518b1c-a43b-4ec2-8fd4-b01d9d5e2dec","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":94,"box":{"x":62,"y":134,"width":471,"height":12}},{"id":"0f0bb160-3895-48ee-bffa-0faa67ac8d3b","block_type":"box","text":"","page_number":94,"box":{"x":62,"y":166,"width":6,"height":4}},{"id":"62fcf2bb-811c-4f3f-8c59-3d76f4891d69","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":94,"box":{"x":92,"y":163,"width":193,"height":11}},{"id":"bc367550-6b72-4f75-ad45-870f24fb1c32","block_type":"box","text":"","page_number":94,"box":{"x":62,"y":182,"width":6,"height":5}},{"id":"c34c639a-9f30-49f4-abf1-39f8b50cdb12","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":94,"box":{"x":92,"y":179,"width":183,"height":11}},{"id":"26623836-da6d-4c6c-a0c8-4441b2951374","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":94,"box":{"x":62,"y":207,"width":860,"height":11}},{"id":"6448aaf8-7c78-41ae-bd4f-d07479da89a7","block_type":"box","text":"which case leverage will not exceed the following:","page_number":94,"box":{"x":62,"y":220,"width":368,"height":12}},{"id":"28b951cc-c9f7-44a4-8b7d-d994ec039454","block_type":"box","text":"","page_number":94,"box":{"x":62,"y":252,"width":6,"height":4}},{"id":"49038f2b-63d9-4d64-825d-712cecf9ea35","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":94,"box":{"x":92,"y":248,"width":193,"height":12}},{"id":"ff528993-0be7-4d27-8cbc-6a3a836fe706","block_type":"box","text":"","page_number":94,"box":{"x":62,"y":268,"width":6,"height":4}},{"id":"b3b17fc8-17ba-4b0e-af22-fc16e6b7a45b","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":94,"box":{"x":92,"y":265,"width":183,"height":11}},{"id":"7f982d11-7216-4d79-adc2-051db8dd7dca","block_type":"box","text":"Specific Risks","page_number":94,"box":{"x":62,"y":292,"width":113,"height":12}},{"id":"b61c3220-6625-4fd0-99d8-05ceae10f369","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":94,"box":{"x":181,"y":293,"width":462,"height":11}},{"id":"a64f51a6-8750-4432-837e-3e98b6aaf4e2","block_type":"box","text":"","page_number":94,"box":{"x":62,"y":316,"width":6,"height":4}},{"id":"34410a1e-5ddc-4d6f-908f-123cfe7cfc80","block_type":"box","text":"Smaller Companies","page_number":94,"box":{"x":92,"y":313,"width":145,"height":11}},{"id":"d9b7d79f-d134-4eac-b09a-6a4ff6dbaa92","block_type":"box","text":"","page_number":94,"box":{"x":62,"y":331,"width":6,"height":4}},{"id":"0c1307f7-0408-4ec5-aa74-9e41b59f3934","block_type":"box","text":"Single Market","page_number":94,"box":{"x":92,"y":327,"width":102,"height":12}},{"id":"0e8fedc8-2cd1-43dd-a4f8-9079d6d2c276","block_type":"box","text":"","page_number":94,"box":{"x":62,"y":345,"width":6,"height":4}},{"id":"70040d84-751c-48d6-af98-73b491d7c234","block_type":"box","text":"Equity Securities","page_number":94,"box":{"x":93,"y":342,"width":123,"height":11}},{"id":"879c253b-d8e8-4151-8c43-98960dc863e7","block_type":"box","text":"Past Performance – AI UK Listed Equity Fund","page_number":94,"box":{"x":72,"y":388,"width":361,"height":11}},{"id":"e816abde-4791-4218-90fd-e3181562bc72","block_type":"box","text":"% Growth","page_number":94,"box":{"x":71,"y":407,"width":77,"height":9}},{"id":"873fdade-0f14-4420-b3c8-8d61b4be16be","block_type":"box","text":"1/1/2024 to","page_number":94,"box":{"x":290,"y":433,"width":94,"height":8}},{"id":"981bbdd8-e7ed-4c86-a51b-73bd3bc3b960","block_type":"box","text":"31/12/2024","page_number":94,"box":{"x":289,"y":445,"width":75,"height":8}},{"id":"e361f188-3993-4471-89aa-f52709be6e9f","block_type":"box","text":"1/1/2023 to","page_number":94,"box":{"x":404,"y":433,"width":94,"height":8}},{"id":"97a99a8e-2c63-4000-bf90-d5ab4749d358","block_type":"box","text":"31/12/2023","page_number":94,"box":{"x":403,"y":445,"width":75,"height":8}},{"id":"bd11ec52-cbeb-4aaa-92df-88dc35aed72d","block_type":"box","text":"1/1/2022 to","page_number":94,"box":{"x":517,"y":433,"width":94,"height":8}},{"id":"dcd57a46-3531-4d0d-a611-c3accb919dd7","block_type":"box","text":"31/12/2022","page_number":94,"box":{"x":516,"y":445,"width":75,"height":8}},{"id":"b86f6638-1515-4bba-9674-3e021fe08a98","block_type":"box","text":"1/1/2021 to","page_number":94,"box":{"x":631,"y":433,"width":94,"height":8}},{"id":"277227b9-e7af-4195-b353-13b92f1f0029","block_type":"box","text":"31/12/2021","page_number":94,"box":{"x":630,"y":445,"width":73,"height":8}},{"id":"ed921760-232e-4831-bb3a-73a5109eaca7","block_type":"box","text":"1/1/2020 to","page_number":94,"box":{"x":744,"y":433,"width":94,"height":8}},{"id":"49331525-9eec-4d47-900c-9523632adbe8","block_type":"box","text":"31/12/2020","page_number":94,"box":{"x":743,"y":445,"width":75,"height":8}},{"id":"7acf294f-bb2d-43a6-97ab-068115cf895b","block_type":"box","text":"UK Corporate Income","page_number":94,"box":{"x":72,"y":470,"width":198,"height":10}},{"id":"556411eb-9398-48c1-8e5c-d45dc3c149d9","block_type":"box","text":"Distribution Units (%)","page_number":94,"box":{"x":72,"y":482,"width":140,"height":10}},{"id":"d32d7e1a-95d3-4cf6-a6b5-27d5e8997d61","block_type":"box","text":"8.66","page_number":94,"box":{"x":290,"y":470,"width":28,"height":8}},{"id":"7318a1d9-e51d-4457-9a00-c23b467b7409","block_type":"box","text":"7.43","page_number":94,"box":{"x":403,"y":470,"width":29,"height":8}},{"id":"ff421e6c-0dbb-4f77-8b39-71d9f5f65bd5","block_type":"box","text":"3.70","page_number":94,"box":{"x":517,"y":470,"width":28,"height":8}},{"id":"d4ab69de-e46a-4d42-977c-5a013f0eb42f","block_type":"box","text":"13.8","page_number":94,"box":{"x":631,"y":470,"width":28,"height":8}},{"id":"4642f82b-adbd-437f-8e42-287b2e1d4c6b","block_type":"box","text":"-8.1","page_number":94,"box":{"x":743,"y":470,"width":23,"height":8}},{"id":"b203dbf3-aa11-4e3f-af10-9d4fabf014d7","block_type":"box","text":"Insured Pension Income","page_number":94,"box":{"x":72,"y":513,"width":198,"height":8}},{"id":"f69d670f-983d-4398-8488-c3855e2b16d5","block_type":"box","text":"Distribution Units (%)","page_number":94,"box":{"x":72,"y":525,"width":140,"height":10}},{"id":"16e1ac53-825f-4eb6-b241-a46e510c64a7","block_type":"box","text":"8.66","page_number":94,"box":{"x":290,"y":513,"width":28,"height":8}},{"id":"2a9fb99d-7ad0-43e8-a8b9-e42558032259","block_type":"box","text":"7.41","page_number":94,"box":{"x":403,"y":513,"width":26,"height":8}},{"id":"4d85305e-b86c-498f-911d-88eee7718eea","block_type":"box","text":"3.71","page_number":94,"box":{"x":517,"y":513,"width":26,"height":8}},{"id":"e83cdb29-1cc6-4ad2-8acc-1e93eac3ebfa","block_type":"box","text":"13.8","page_number":94,"box":{"x":631,"y":513,"width":28,"height":8}},{"id":"1ad17007-8f8f-447e-8a24-db4b5e5dd36f","block_type":"box","text":"-8.0","page_number":94,"box":{"x":743,"y":513,"width":25,"height":8}},{"id":"be7856df-f02c-43b5-b21c-b9388f87203f","block_type":"box","text":"UK Institutional Accumulation","page_number":94,"box":{"x":72,"y":556,"width":198,"height":8}},{"id":"0be5f8c4-aa55-4ec0-a84c-53d2689a3278","block_type":"box","text":"Units (%)","page_number":94,"box":{"x":72,"y":568,"width":60,"height":10}},{"id":"1b3c33a1-917c-4c7c-89fb-b88f2dd7cbce","block_type":"box","text":"8.62","page_number":94,"box":{"x":290,"y":556,"width":28,"height":8}},{"id":"0211ac20-d281-4d1d-9760-92b023dc2b81","block_type":"box","text":"7.48","page_number":94,"box":{"x":403,"y":556,"width":28,"height":8}},{"id":"54e6a335-f47f-4faa-a3c9-498341e4bfd6","block_type":"box","text":"3.71","page_number":94,"box":{"x":517,"y":556,"width":26,"height":8}},{"id":"3b094b0a-b3b9-4fd0-9cad-f8cc309cdc6f","block_type":"box","text":"13.9","page_number":94,"box":{"x":631,"y":556,"width":27,"height":8}},{"id":"5aa2e393-0eb5-4221-aa94-ed36c87e1c04","block_type":"box","text":"-8.2","page_number":94,"box":{"x":743,"y":556,"width":25,"height":8}},{"id":"42b8cbb5-561e-4899-8130-2a42bfc36749","block_type":"box","text":"ACS (Fund of Fund)","page_number":94,"box":{"x":71,"y":599,"width":199,"height":10}},{"id":"7a6d7a39-839f-4a2c-978e-695f1797347c","block_type":"box","text":"Accumulation Units Class 1","page_number":94,"box":{"x":71,"y":611,"width":197,"height":8}},{"id":"28ba46c1-2405-44b0-a149-91f6f30d1b5c","block_type":"box","text":"(%)","page_number":94,"box":{"x":72,"y":624,"width":21,"height":10}},{"id":"7b7500f0-ef44-4b2c-9b09-12d24a5e70f8","block_type":"box","text":"8.63","page_number":94,"box":{"x":290,"y":599,"width":28,"height":8}},{"id":"92a468cb-24cb-4828-9c22-001dff8d3b85","block_type":"box","text":"7.54","page_number":94,"box":{"x":403,"y":599,"width":29,"height":8}},{"id":"ee94aeb2-e534-4668-8fac-d3d77bd70953","block_type":"box","text":"3.67","page_number":94,"box":{"x":517,"y":599,"width":28,"height":8}},{"id":"34ff863e-7760-47ee-9803-b4f3a64bb0ae","block_type":"box","text":"14.0","page_number":94,"box":{"x":631,"y":599,"width":28,"height":8}},{"id":"d5e73fae-e379-4db0-85b0-1f1033e395ba","block_type":"box","text":"-8.2","page_number":94,"box":{"x":743,"y":599,"width":25,"height":8}},{"id":"3389304e-33d7-4056-b0dd-5c7ba1fce6ec","block_type":"box","text":"ACS (Fund of Fund)","page_number":94,"box":{"x":71,"y":648,"width":199,"height":10}},{"id":"9af11238-09c4-4fae-a038-2f79f45d066f","block_type":"box","text":"Accumulation Units Class 2","page_number":94,"box":{"x":71,"y":661,"width":199,"height":8}},{"id":"8057c7dd-e321-46c2-a274-93a6b91ff607","block_type":"box","text":"(%)","page_number":94,"box":{"x":72,"y":673,"width":21,"height":10}},{"id":"62582d07-2dbe-4b19-a4ca-8a46f3ad703f","block_type":"box","text":"8.63","page_number":94,"box":{"x":290,"y":649,"width":28,"height":7}},{"id":"dbbbaa57-0dcb-4bd5-8a07-d36e5bb7b6dc","block_type":"box","text":"7.54","page_number":94,"box":{"x":403,"y":649,"width":29,"height":7}},{"id":"d2f7817d-4ddc-4d6b-b6c9-cf91f9dd77f3","block_type":"box","text":"3.67","page_number":94,"box":{"x":517,"y":649,"width":28,"height":7}},{"id":"22699cfb-ea62-4708-9034-8332a5ed4de0","block_type":"box","text":"14.0","page_number":94,"box":{"x":631,"y":649,"width":28,"height":7}},{"id":"a978d30d-5922-4d95-a6d9-ae7d751cda01","block_type":"box","text":"-8.2","page_number":94,"box":{"x":743,"y":649,"width":25,"height":7}},{"id":"9b8763bf-0787-4311-9712-9ee3cd3ab8fa","block_type":"box","text":"UK Corporate Accumulation","page_number":94,"box":{"x":72,"y":698,"width":198,"height":10}},{"id":"b24da394-c0b6-489f-a7cf-e33ec25f7fdd","block_type":"box","text":"Units (%)","page_number":94,"box":{"x":72,"y":710,"width":60,"height":10}},{"id":"f9358e32-67c7-48ab-86f6-240424c0accf","block_type":"box","text":"N/A","page_number":94,"box":{"x":290,"y":698,"width":24,"height":8}},{"id":"c6f5e0d9-09cb-4af0-829d-d47825d10c24","block_type":"box","text":"Insured Pension","page_number":94,"box":{"x":72,"y":735,"width":198,"height":8}},{"id":"df3dfdf7-4f46-4e8d-bef9-4f247df61251","block_type":"box","text":"Accumulation Units (%)","page_number":94,"box":{"x":71,"y":747,"width":156,"height":10}},{"id":"31e781d7-29fb-4a17-bc20-8a8a0d61cef6","block_type":"box","text":"UK Fund of Fund","page_number":94,"box":{"x":72,"y":772,"width":198,"height":8}},{"id":"7629ea51-4b9c-43e6-9a1f-b281f2e5f74a","block_type":"box","text":"Accumulation Units (%)","page_number":94,"box":{"x":71,"y":784,"width":156,"height":10}},{"id":"09876dc3-45cf-450b-848b-646aee9de597","block_type":"box","text":"Index - FTSE® All-Share","page_number":94,"box":{"x":72,"y":812,"width":199,"height":8}},{"id":"8cc085ce-303f-4901-a32d-62f4f1ff3a13","block_type":"box","text":"Total Return Index","page_number":94,"box":{"x":73,"y":824,"width":124,"height":8}},{"id":"d43d2dc7-0ccd-44a3-91f4-5ed70d5e4c88","block_type":"box","text":"9.47","page_number":94,"box":{"x":290,"y":812,"width":30,"height":8}},{"id":"211e8bf2-d457-4ed8-99b0-30e884e06024","block_type":"box","text":"7.92","page_number":94,"box":{"x":405,"y":812,"width":27,"height":8}},{"id":"8dcfbcd5-319d-4c64-b84a-47362439c6a6","block_type":"box","text":"0.34","page_number":94,"box":{"x":517,"y":812,"width":29,"height":8}},{"id":"95448b2d-d485-4e00-a662-fea3c6a419df","block_type":"box","text":"18.3","page_number":94,"box":{"x":633,"y":812,"width":27,"height":8}},{"id":"2f1795dd-57d8-402b-bf10-dcd65789cd0e","block_type":"box","text":"-9.8","page_number":94,"box":{"x":744,"y":812,"width":26,"height":8}},{"id":"e798dbae-88d6-437f-a56b-c40ac8653cd7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":95,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"d8d105e0-3c6e-4751-8795-90e62e26511b","block_type":"box","text":"95","page_number":95,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"da08777b-9bb1-44f3-8cd4-f37954576edd","block_type":"box","text":"Aviva Investors: Confidential","page_number":95,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"9c9ac229-6c55-4a2c-aace-58b8509ad20b","block_type":"box","text":"AI UK Listed Equity Income Fund","page_number":95,"box":{"x":62,"y":53,"width":263,"height":11}},{"id":"6a796fbb-9235-42ac-8c2f-941ca4b798ce","block_type":"box","text":"FCA product reference number: 658297","page_number":95,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"719488a1-85f9-401e-afb3-1afa633bb4cd","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":95,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"91dec287-f533-4155-91ab-04cdb866200d","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":95,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"683eaacd-2305-4d2f-8cea-29b1532bd570","block_type":"box","text":"Investment Objective and Policy","page_number":95,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"9b5b8310-22df-4a0d-8c10-5950afc6c490","block_type":"box","text":"The Sub-Fund aims to deliver an income return of at least 110% of the income return of the FTSE® All-Share Total","page_number":95,"box":{"x":62,"y":184,"width":860,"height":9}},{"id":"e595f7fc-f03a-4778-83a7-4a741141ffb7","block_type":"box","text":"Return Index","page_number":95,"box":{"x":63,"y":198,"width":94,"height":8}},{"id":"4db2efc3-f665-4738-986b-8a8f4bbb325d","block_type":"box","text":"□","page_number":95,"box":{"x":159,"y":199,"width":5,"height":3}},{"id":"8fe64aa3-2a0d-4e5e-9e07-64fe84edb75f","block_type":"box","text":"over a rolling three year basis, whilst also aiming to grow your investment over the long term (5 years","page_number":95,"box":{"x":170,"y":197,"width":753,"height":12}},{"id":"d8dc79a6-b05e-4eda-a295-8b64c039b9e8","block_type":"box","text":"or more) by investing in shares of UK companies.","page_number":95,"box":{"x":62,"y":211,"width":365,"height":11}},{"id":"a246eb77-0142-497f-9921-114079553f1d","block_type":"box","text":"Both the income and return aims are measured before the deduction of Sub-Fund charges and tax.","page_number":95,"box":{"x":63,"y":231,"width":732,"height":11}},{"id":"835f9711-db3a-4171-a66d-2ed418073a10","block_type":"box","text":"Core investment:","page_number":95,"box":{"x":62,"y":250,"width":135,"height":9}},{"id":"4263a339-d61f-41a8-9289-476e55ee5ee5","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of UK companies (incorporated or domiciled in the UK), or","page_number":95,"box":{"x":62,"y":270,"width":861,"height":11}},{"id":"fcf7b932-9bc0-4f77-88a3-13f9aa84bb82","block_type":"box","text":"non UK companies which are listed in the UK or which have significant trading activities in the UK.","page_number":95,"box":{"x":62,"y":283,"width":725,"height":12}},{"id":"a1b246b6-7026-4b61-ace1-cb5bdd7609a3","block_type":"box","text":"Other investments:","page_number":95,"box":{"x":62,"y":303,"width":151,"height":9}},{"id":"eec04671-b51d-47ca-838f-36d034a9bf7c","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by the Investment Manager),","page_number":95,"box":{"x":62,"y":323,"width":860,"height":11}},{"id":"6bab6606-383f-4a0b-be32-31411d9c83d2","block_type":"box","text":"derivatives, cash and deposits.","page_number":95,"box":{"x":62,"y":336,"width":228,"height":11}},{"id":"429b949d-d5dc-4d75-8d49-0040b6c03daa","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":95,"box":{"x":63,"y":356,"width":860,"height":11}},{"id":"6a4428f3-710c-4fa9-9b35-daeca76fd080","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":95,"box":{"x":62,"y":369,"width":861,"height":12}},{"id":"0c5c1b9c-ef9e-42d5-9858-5af73c7fb860","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":95,"box":{"x":62,"y":383,"width":545,"height":11}},{"id":"3e59219f-49e0-4b8c-a8d4-5415e38dc1fa","block_type":"box","text":"Strategy:","page_number":95,"box":{"x":62,"y":403,"width":70,"height":11}},{"id":"71b54634-3353-45f9-ba3e-5d79f68460fe","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager aims to achieve the Sub-Fund’s objective by","page_number":95,"box":{"x":62,"y":422,"width":861,"height":12}},{"id":"f4179cf4-e095-484d-ad6f-59c8c9a14340","block_type":"box","text":"identifying businesses that trade at a substantial discount to their fair or intrinsic value and where the Investment","page_number":95,"box":{"x":62,"y":436,"width":861,"height":11}},{"id":"7a3b86a8-cb69-442b-a8b6-1898771530dd","block_type":"box","text":"Manager believes that profit growth will surpass expectations, as it believes these stocks provide the most attractive","page_number":95,"box":{"x":63,"y":450,"width":860,"height":11}},{"id":"15df8cf6-6260-40d4-b525-a5e07f1770ff","block_type":"box","text":"investment returns over the long term.","page_number":95,"box":{"x":62,"y":464,"width":281,"height":11}},{"id":"5d02893d-8147-4cbd-b703-991248b9cef2","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":95,"box":{"x":62,"y":483,"width":527,"height":11}},{"id":"e25e8e97-cd7e-447a-9864-9929349db186","block_type":"box","text":"please see Appendix 2 for information on","page_number":95,"box":{"x":594,"y":483,"width":328,"height":11}},{"id":"f9d5414e-c931-48f6-9f04-5856586d6aa8","block_type":"box","text":"these limited investment restrictions.","page_number":95,"box":{"x":62,"y":497,"width":295,"height":8}},{"id":"ff9adb5b-8f28-4145-aefc-5a4309d33a76","block_type":"box","text":"Performance & Risk Measurement:","page_number":95,"box":{"x":63,"y":516,"width":275,"height":9}},{"id":"57e93ea6-0f53-44b8-b05f-2c686792575a","block_type":"box","text":"The Sub-Fund’s performance is compared against the FTSE® All Share Total Return Index (the “Index”).","page_number":95,"box":{"x":62,"y":536,"width":776,"height":11}},{"id":"e74d2bfc-750d-4b22-ae6f-649eb579745e","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":95,"box":{"x":62,"y":555,"width":860,"height":12}},{"id":"5bbb9a7f-6a56-4382-b985-b7526e27016f","block_type":"box","text":"may also hold companies that do not form part of it. The Sub-Fund will not invest in shares of companies within the","page_number":95,"box":{"x":62,"y":569,"width":861,"height":11}},{"id":"9a7dbff0-3cae-490a-99db-be966c1e98c9","block_type":"box","text":"Aviva Group.","page_number":95,"box":{"x":62,"y":583,"width":95,"height":11}},{"id":"91f33712-d841-47b8-af43-f02fdd55b2ae","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund’s returns and the returns of the","page_number":95,"box":{"x":62,"y":602,"width":861,"height":12}},{"id":"98415da6-56bd-4470-9917-fb0bb2678ca8","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":95,"box":{"x":63,"y":616,"width":859,"height":11}},{"id":"e68a3bb6-ae8d-4312-8861-68d4a73ff185","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2% and 8% per annum","page_number":95,"box":{"x":62,"y":630,"width":860,"height":11}},{"id":"c12a8cb0-e6cd-465d-b790-e66df6779bcd","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":95,"box":{"x":62,"y":643,"width":650,"height":12}},{"id":"cf2169d6-6158-44f7-980a-76aa000172f4","block_type":"box","text":"The Index represents the performance of all eligible companies listed on the London Stock Exchange, and 98% of","page_number":95,"box":{"x":62,"y":663,"width":861,"height":11}},{"id":"517ca6ea-d724-4c5a-86ca-9cd9ccdb94b2","block_type":"box","text":"the UK's market capitalisation (total market value of a company's outstanding shares).","page_number":95,"box":{"x":62,"y":676,"width":636,"height":12}},{"id":"1aa11b88-ff4f-49af-b312-945ed3a86cfb","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":95,"box":{"x":62,"y":696,"width":861,"height":11}},{"id":"2e3f6ec5-d36f-4758-830f-54c711412410","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the","page_number":95,"box":{"x":62,"y":710,"width":861,"height":11}},{"id":"2534d15e-e404-460a-a348-81c3ab381ff0","block_type":"box","text":"Sub-Fund’s performance.","page_number":95,"box":{"x":62,"y":723,"width":187,"height":12}},{"id":"de0aae77-b170-403c-92d3-687bba079681","block_type":"box","text":"Additional Information","page_number":95,"box":{"x":62,"y":743,"width":177,"height":9}},{"id":"6c046b31-aa4f-4796-bb3d-34a1ce733ed7","block_type":"box","text":"Investment Manager","page_number":95,"box":{"x":118,"y":769,"width":151,"height":12}},{"id":"859c347a-3c5d-4cbd-af69-11ee9f9ca8a4","block_type":"box","text":"Schroder Investment Management Limited","page_number":95,"box":{"x":353,"y":769,"width":315,"height":12}},{"id":"6f3d02eb-4483-42b7-92a1-ed1a4621210e","block_type":"box","text":"Type of Units","page_number":95,"box":{"x":116,"y":795,"width":98,"height":12}},{"id":"31da971e-f888-41e5-b8f1-f78e7cc67cca","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":95,"box":{"x":353,"y":795,"width":292,"height":11}},{"id":"e11fe464-482b-4df5-aa08-e9c0ff102403","block_type":"box","text":"Insured Pension Income Distribution Units","page_number":95,"box":{"x":354,"y":822,"width":310,"height":8}},{"id":"1e654f58-150a-4067-8708-4ab20f619a77","block_type":"box","text":"UK Institutional Accumulation Units","page_number":95,"box":{"x":353,"y":848,"width":260,"height":9}},{"id":"f43df002-b32d-4b2a-bc94-a0851ea31480","block_type":"box","text":"Dealing Day","page_number":95,"box":{"x":118,"y":874,"width":89,"height":11}},{"id":"52c42412-d2d4-444a-af36-bdfb03234a5a","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":95,"box":{"x":354,"y":874,"width":393,"height":11}},{"id":"b83c37ab-f60e-42bd-8933-435a76c95513","block_type":"box","text":"Deal Cut-Off Point","page_number":95,"box":{"x":118,"y":900,"width":134,"height":9}},{"id":"5c234a44-6bc5-4d02-a935-0358e9d6b200","block_type":"box","text":"2.00 p.m.","page_number":95,"box":{"x":353,"y":900,"width":67,"height":11}},{"id":"ae4cc4eb-ea96-4507-896f-86a68850e5fb","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":96,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"c808f26c-77f7-4a0f-9c89-1027b610d0a2","block_type":"box","text":"96","page_number":96,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"22c122da-e57f-40c5-a43a-2d1532d2370b","block_type":"box","text":"Aviva Investors: Confidential","page_number":96,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"8e64c29e-c2f2-4561-9f62-c8f19335c1ea","block_type":"box","text":"Valuation Point","page_number":96,"box":{"x":117,"y":59,"width":112,"height":9}},{"id":"b8dc902d-4ae4-4713-8071-7a0b056d872e","block_type":"box","text":"3.00 p.m.","page_number":96,"box":{"x":353,"y":59,"width":67,"height":11}},{"id":"99a6313f-dd50-4592-af2d-b2d705899d7d","block_type":"box","text":"*Minimum Investment","page_number":96,"box":{"x":117,"y":85,"width":172,"height":9}},{"id":"bdd72aab-73c8-49dd-b7c5-845a61104e6e","block_type":"box","text":"UK Corporate Income","page_number":96,"box":{"x":118,"y":111,"width":160,"height":11}},{"id":"5dc59d47-6802-4746-9339-831d1d991006","block_type":"box","text":"Distribution Units, Insured","page_number":96,"box":{"x":118,"y":125,"width":189,"height":10}},{"id":"829c3e50-9257-4f61-a2cd-2b3a5141714f","block_type":"box","text":"Pension Income Distribution","page_number":96,"box":{"x":118,"y":139,"width":206,"height":8}},{"id":"bc99de59-7f7b-4340-92b8-cb5b26add903","block_type":"box","text":"Units","page_number":96,"box":{"x":118,"y":152,"width":36,"height":9}},{"id":"f7826192-8b2f-4761-adba-e51a3f817bbc","block_type":"box","text":",","page_number":96,"box":{"x":156,"y":160,"width":2,"height":3}},{"id":"b188a43d-32c1-4215-b442-f6af8e4bf26b","block_type":"box","text":"UK Institutional","page_number":96,"box":{"x":165,"y":152,"width":111,"height":9}},{"id":"131eec48-43f4-47fe-b35c-50d8e2bdaa8b","block_type":"box","text":"Accumulation Units","page_number":96,"box":{"x":116,"y":166,"width":143,"height":9}},{"id":"45cdff42-3354-4b68-94d4-d1a3483a656d","block_type":"box","text":"No minimum","page_number":96,"box":{"x":353,"y":111,"width":92,"height":9}},{"id":"ef412bed-990c-4dff-91f3-dd7ff3124932","block_type":"box","text":"Minimum withdrawal","page_number":96,"box":{"x":117,"y":192,"width":150,"height":9}},{"id":"752e8f1a-6204-4002-92b7-e855a36b88f6","block_type":"box","text":"No minimum","page_number":96,"box":{"x":353,"y":192,"width":92,"height":9}},{"id":"6a4c51b1-bcff-4623-ae72-a03604975272","block_type":"box","text":"Tax Criteria for investment","page_number":96,"box":{"x":116,"y":218,"width":213,"height":9}},{"id":"0af3a1d2-7b19-44d1-aff1-72f27712a6fa","block_type":"box","text":"UK Corporate Income","page_number":96,"box":{"x":118,"y":244,"width":160,"height":11}},{"id":"d9d0929b-1724-49b2-893a-b93582c1a5c5","block_type":"box","text":"Distribution Units","page_number":96,"box":{"x":118,"y":258,"width":124,"height":9}},{"id":"8179df39-aca1-4e10-a532-cf582b92d102","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":96,"box":{"x":352,"y":244,"width":404,"height":11}},{"id":"0bc6eed6-ac00-4c96-95e1-c0677fcf4b9c","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":96,"box":{"x":353,"y":258,"width":404,"height":11}},{"id":"9f1a5ffb-76c0-4634-b0be-ff7f59f8b783","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":96,"box":{"x":352,"y":272,"width":405,"height":11}},{"id":"b5a983b7-484a-471b-bed8-f1021714ce4e","block_type":"box","text":"linked pension business contracts.","page_number":96,"box":{"x":353,"y":285,"width":253,"height":11}},{"id":"13c60c4c-7f72-4184-a218-c96f1561b18e","block_type":"box","text":"Insured Pension Income","page_number":96,"box":{"x":118,"y":311,"width":179,"height":9}},{"id":"2d88e6c9-8a58-4454-9f92-e5ee65707d79","block_type":"box","text":"Distribution Units","page_number":96,"box":{"x":118,"y":325,"width":124,"height":9}},{"id":"c8ddb650-7a1d-49a9-b5cc-cd0ef0cf510b","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":96,"box":{"x":352,"y":311,"width":404,"height":11}},{"id":"f7cd5bac-59b8-4cdc-b8ee-d5495696ba05","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":96,"box":{"x":353,"y":325,"width":404,"height":11}},{"id":"05f3912d-8615-4c42-930d-8aca0b3c03c2","block_type":"box","text":"back exclusively its unit linked pension business","page_number":96,"box":{"x":353,"y":339,"width":404,"height":11}},{"id":"6c857887-7990-4ece-9907-e8c4b7dafaf7","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":96,"box":{"x":353,"y":352,"width":404,"height":11}},{"id":"33e037a2-f850-463c-a27f-0f24f38ea1bb","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":96,"box":{"x":353,"y":366,"width":307,"height":11}},{"id":"b0fd143d-5873-4f88-a1aa-2683ba2daf5f","block_type":"box","text":"UK Institutional","page_number":96,"box":{"x":118,"y":392,"width":110,"height":9}},{"id":"49af5eba-f74e-4418-a4d1-ce06462fd72b","block_type":"box","text":"Accumulation Units","page_number":96,"box":{"x":116,"y":406,"width":143,"height":9}},{"id":"84785ad1-3002-4ceb-bf0a-4a6ba2ae592c","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":96,"box":{"x":352,"y":392,"width":404,"height":11}},{"id":"5f2d7508-3923-4b64-b13f-59cad9888b3b","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":96,"box":{"x":353,"y":406,"width":403,"height":11}},{"id":"d9013994-170d-46cb-abaa-9e36cd1b04e4","block_type":"box","text":"tax treaties.","page_number":96,"box":{"x":352,"y":420,"width":85,"height":8}},{"id":"8edf5af6-5abe-451f-8c53-875eb86ca367","block_type":"box","text":"**Current Charges:","page_number":96,"box":{"x":117,"y":452,"width":149,"height":11}},{"id":"3e47c5db-dad7-4b35-8c3f-0444a5e043cf","block_type":"box","text":"UK Corporate Income","page_number":96,"box":{"x":118,"y":477,"width":160,"height":12}},{"id":"facd9166-7865-4705-b573-1c3643528453","block_type":"box","text":"Distribution Units, Insured","page_number":96,"box":{"x":118,"y":491,"width":189,"height":11}},{"id":"f4e05676-550e-47b3-81cf-16d889baa362","block_type":"box","text":"Pension Income Distribution","page_number":96,"box":{"x":118,"y":505,"width":206,"height":9}},{"id":"c7c78df1-5fec-47a0-8385-c0a7a4004395","block_type":"box","text":"Units","page_number":96,"box":{"x":118,"y":519,"width":36,"height":8}},{"id":"c6070d02-5786-45b8-8bcf-6cb63c88c779","block_type":"box","text":",","page_number":96,"box":{"x":156,"y":526,"width":2,"height":3}},{"id":"ee1bdd77-98f7-425c-8a7c-2bfec74833ce","block_type":"box","text":"UK Institutional","page_number":96,"box":{"x":165,"y":519,"width":111,"height":8}},{"id":"8d4fffbe-86f8-44a9-907c-7e3d5b8f627f","block_type":"box","text":"Accumulation Units","page_number":96,"box":{"x":116,"y":532,"width":143,"height":9}},{"id":"dd46fe88-02ac-4bd0-9ca1-fdb972e57f0b","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":96,"box":{"x":352,"y":477,"width":404,"height":12}},{"id":"36b33d05-538c-438f-b436-d36e58f14f0e","block_type":"box","text":"Unitholder","page_number":96,"box":{"x":353,"y":492,"width":75,"height":8}},{"id":"0c62a74c-ca7c-4821-8ced-f139246df02c","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":96,"box":{"x":352,"y":511,"width":404,"height":11}},{"id":"605fc43b-5ece-42b6-841d-a6e8ba6193ce","block_type":"box","text":"property","page_number":96,"box":{"x":353,"y":525,"width":60,"height":11}},{"id":"632e5c32-bf38-434a-bd3e-b5d16c28e71f","block_type":"box","text":"Accounting Dates","page_number":96,"box":{"x":117,"y":570,"width":141,"height":12}},{"id":"56a2b0a8-db0d-42e7-b6fc-917d6d36f243","block_type":"box","text":"Annual Accounting Date","page_number":96,"box":{"x":116,"y":597,"width":180,"height":11}},{"id":"dce3be6b-dac4-406b-abb2-7da0cd0e5ffe","block_type":"box","text":"31 December","page_number":96,"box":{"x":353,"y":597,"width":100,"height":8}},{"id":"55dc59cb-7069-4050-90a7-140dc4b4dbe5","block_type":"box","text":"First Accounting Date","page_number":96,"box":{"x":118,"y":623,"width":158,"height":11}},{"id":"956e0394-85fd-49d7-a192-1f461649cbcf","block_type":"box","text":"31 December 2015","page_number":96,"box":{"x":353,"y":623,"width":141,"height":9}},{"id":"51e5fd7f-c6af-40bf-bb9e-ec93a6b3e644","block_type":"box","text":"Annual Income Allocation","page_number":96,"box":{"x":116,"y":649,"width":188,"height":8}},{"id":"82d8eb39-6753-49a7-9f9a-26537a85b8ef","block_type":"box","text":"Date","page_number":96,"box":{"x":118,"y":662,"width":33,"height":9}},{"id":"83c27403-2b1a-4807-a506-d31e25f18846","block_type":"box","text":"On or before 28 /29 February","page_number":96,"box":{"x":353,"y":649,"width":217,"height":11}},{"id":"d8ee2bee-d13b-4d03-b80f-b693e06432ff","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":96,"box":{"x":118,"y":689,"width":293,"height":11}},{"id":"371c586f-bde4-485d-9ecf-a142ae9aada0","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half yearly report for","page_number":96,"box":{"x":62,"y":714,"width":861,"height":12}},{"id":"036d9bf7-68bc-4685-89e6-e40aade4c58b","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":96,"box":{"x":62,"y":728,"width":408,"height":11}},{"id":"4aeb0382-4b9d-44b7-bd04-410b373ded0a","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":96,"box":{"x":62,"y":748,"width":642,"height":11}},{"id":"3b543db3-c266-4d6a-86d0-67db14100cc4","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":96,"box":{"x":62,"y":767,"width":860,"height":12}},{"id":"843d2ff0-004b-4960-a528-15426394fb44","block_type":"box","text":"this Prospectus.","page_number":96,"box":{"x":62,"y":781,"width":117,"height":11}},{"id":"9397f6ea-88ba-48bf-8e90-c6114c64a3d7","block_type":"box","text":"□","page_number":96,"box":{"x":62,"y":796,"width":5,"height":4}},{"id":"2702bd0c-df61-49bd-bdf5-280f4f5ac1da","block_type":"box","text":"Please see “Index Disclaimers” section above","page_number":96,"box":{"x":74,"y":795,"width":338,"height":8}},{"id":"63d02fc3-8d8f-4e42-838a-2d951c96ef92","block_type":"box","text":"Securities Financing and other Transactions:","page_number":96,"box":{"x":62,"y":828,"width":358,"height":11}},{"id":"bd2e4739-70ee-4791-9e1e-126bb24cefe7","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":96,"box":{"x":62,"y":848,"width":860,"height":11}},{"id":"9bfdbbe9-f031-4665-90c8-4ac9563f9432","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":96,"box":{"x":62,"y":861,"width":438,"height":11}},{"id":"c740f538-5221-4c6c-af55-2f49d16e1bf9","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":96,"box":{"x":62,"y":900,"width":861,"height":12}},{"id":"18953ed0-18f9-4e7d-9f09-b2571c6844af","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":96,"box":{"x":62,"y":914,"width":860,"height":11}},{"id":"b082cc22-91e8-476f-9111-454c198b9a45","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":97,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"9dccba5e-eafe-4cb7-b8c1-1c76f51d02cf","block_type":"box","text":"97","page_number":97,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"fed9c979-9de2-42f2-9241-eb40deb428a5","block_type":"box","text":"Aviva Investors: Confidential","page_number":97,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"501a4611-ad78-49e1-916f-bc414422f84f","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":97,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"1f49fc13-5864-44e2-bff5-c30707a07d06","block_type":"box","text":"15%.","page_number":97,"box":{"x":63,"y":66,"width":35,"height":9}},{"id":"255ec912-de3f-471f-b9fe-affda2326b72","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":97,"box":{"x":62,"y":105,"width":860,"height":12}},{"id":"0a7354ac-a1a1-4e93-b6e4-3a081eca8b4a","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":97,"box":{"x":62,"y":119,"width":860,"height":11}},{"id":"d941adf9-1f92-478a-b48a-9998ad961b2b","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":97,"box":{"x":62,"y":133,"width":861,"height":11}},{"id":"66c6a3dd-e504-4403-afb9-d23152f51e06","block_type":"box","text":"is zero.","page_number":97,"box":{"x":62,"y":147,"width":52,"height":8}},{"id":"13f15fba-c253-474b-878d-2c686be5ae5b","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":97,"box":{"x":62,"y":205,"width":249,"height":9}},{"id":"37f932f3-b215-4a23-b799-a3855e566d4b","block_type":"box","text":"Leverage","page_number":97,"box":{"x":63,"y":244,"width":72,"height":11}},{"id":"c23ea0c9-ba85-4e47-8b21-e558e29fd411","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":97,"box":{"x":63,"y":264,"width":860,"height":11}},{"id":"202449fd-1b16-4083-bdce-45341c5664ae","block_type":"box","text":"management.","page_number":97,"box":{"x":62,"y":278,"width":101,"height":11}},{"id":"eb202756-5bd7-4f4f-a8a4-4d7203e5314a","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":97,"box":{"x":62,"y":311,"width":860,"height":11}},{"id":"db61045c-e889-401f-ab5c-22b3535f7b77","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":97,"box":{"x":62,"y":325,"width":649,"height":11}},{"id":"576a7976-5a57-4f81-9f7c-5806abf82362","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":97,"box":{"x":62,"y":352,"width":755,"height":11}},{"id":"cdc35196-f2e7-4d74-98db-d5ba2155bb56","block_type":"box","text":"Permitted derivatives","page_number":97,"box":{"x":72,"y":382,"width":168,"height":9}},{"id":"68f7c874-0108-4158-8ca6-24d355dafd1e","block_type":"box","text":"Permitted?","page_number":97,"box":{"x":383,"y":382,"width":85,"height":9}},{"id":"08e85e1a-dd00-4afe-bf2b-d62edef49416","block_type":"box","text":"Prohibited?","page_number":97,"box":{"x":489,"y":382,"width":91,"height":9}},{"id":"ea767453-ea2b-4151-b088-fb7ed44b57f8","block_type":"box","text":"Equity index futures","page_number":97,"box":{"x":72,"y":402,"width":146,"height":11}},{"id":"c2520d90-c664-48f7-bdc8-c6a9a28c0ac0","block_type":"box","text":"√","page_number":97,"box":{"x":421,"y":403,"width":8,"height":7}},{"id":"35df6f9a-65a7-4d09-85c9-dd87f3c22b22","block_type":"box","text":"Government bond futures","page_number":97,"box":{"x":72,"y":421,"width":188,"height":9}},{"id":"186a275c-a954-437e-8dc0-5a0c02807668","block_type":"box","text":"√","page_number":97,"box":{"x":421,"y":421,"width":8,"height":8}},{"id":"58fddc7b-84d1-490b-a1de-f1cf206aa26f","block_type":"box","text":"Equity index options","page_number":97,"box":{"x":72,"y":439,"width":148,"height":11}},{"id":"5e236357-6f73-4a86-96de-dcabe44abfaf","block_type":"box","text":"√","page_number":97,"box":{"x":421,"y":440,"width":8,"height":7}},{"id":"da95bf36-44a2-4203-bf27-07bc30312fad","block_type":"box","text":"Forward foreign exchange","page_number":97,"box":{"x":72,"y":457,"width":193,"height":12}},{"id":"d1e08781-da03-4e8a-be69-083161be3155","block_type":"box","text":"√","page_number":97,"box":{"x":421,"y":458,"width":8,"height":8}},{"id":"860eec5e-e9b4-41e6-b296-7f4110270888","block_type":"box","text":"Index credit default swaps","page_number":97,"box":{"x":72,"y":476,"width":192,"height":11}},{"id":"30c3b79f-7b2d-4942-8055-298aab61db9c","block_type":"box","text":"√","page_number":97,"box":{"x":530,"y":476,"width":8,"height":8}},{"id":"5ab73cf2-a90a-422d-8b51-f56585902a73","block_type":"box","text":"Interest rate swaps","page_number":97,"box":{"x":72,"y":494,"width":140,"height":11}},{"id":"443ca4e9-0286-4e46-b5b4-508704d8b7be","block_type":"box","text":"√","page_number":97,"box":{"x":530,"y":495,"width":8,"height":7}},{"id":"f61b4545-a183-4bd6-89a1-82fb8c2f990d","block_type":"box","text":"OTC equity options","page_number":97,"box":{"x":72,"y":513,"width":142,"height":11}},{"id":"e09cec84-c9e2-4ee9-9ffe-3045f38b1ef6","block_type":"box","text":"√","page_number":97,"box":{"x":421,"y":513,"width":8,"height":8}},{"id":"6d903b83-6534-497e-acee-87cb08cb8833","block_type":"box","text":"Inflation swaps","page_number":97,"box":{"x":72,"y":531,"width":109,"height":11}},{"id":"9bb4978d-f2bf-4efc-a471-d5ce40b4d833","block_type":"box","text":"√","page_number":97,"box":{"x":530,"y":532,"width":8,"height":7}},{"id":"479c37f8-297d-4a63-8881-4f1093552601","block_type":"box","text":"Cross currency swaps","page_number":97,"box":{"x":72,"y":549,"width":163,"height":12}},{"id":"a848b87c-e803-4a1a-b841-ff853c54fe2f","block_type":"box","text":"√","page_number":97,"box":{"x":530,"y":550,"width":8,"height":8}},{"id":"d182abf5-737b-44cf-9bf3-eb2e2ea45b59","block_type":"box","text":"Other","page_number":97,"box":{"x":72,"y":568,"width":41,"height":9}},{"id":"ad0641a0-be5a-44ba-ae27-a3b2c13babe9","block_type":"box","text":"√","page_number":97,"box":{"x":530,"y":568,"width":8,"height":8}},{"id":"e8d6e3c6-4919-4185-acc3-9693db97c94e","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":97,"box":{"x":63,"y":596,"width":860,"height":11}},{"id":"e3b9ec76-56d5-41e9-988d-a7ffaf778003","block_type":"box","text":"2)","page_number":97,"box":{"x":62,"y":610,"width":13,"height":11}},{"id":"c455aea3-2eb1-4a86-bd81-3d1f1477789c","block_type":"box","text":"Leverage Limits","page_number":97,"box":{"x":63,"y":637,"width":128,"height":11}},{"id":"c7421319-db1d-4d0d-b570-f90ee2128a8a","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":97,"box":{"x":200,"y":637,"width":722,"height":11}},{"id":"f3cfb271-f804-4126-8539-c9c8e182ef18","block_type":"box","text":"Regime):","page_number":97,"box":{"x":63,"y":650,"width":65,"height":12}},{"id":"bf6e80d0-479c-447e-bf33-546471e341d2","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":97,"box":{"x":62,"y":678,"width":471,"height":11}},{"id":"a1c55463-2f7d-4021-82d1-3b986056d1ec","block_type":"box","text":"","page_number":97,"box":{"x":62,"y":709,"width":6,"height":4}},{"id":"5d87454f-f12b-43fa-a704-d02442dbb224","block_type":"box","text":"Gross Method: Up to 1.1:1","page_number":97,"box":{"x":92,"y":706,"width":193,"height":11}},{"id":"b359181b-e53f-469a-8bd3-67e73c9e8d5b","block_type":"box","text":"","page_number":97,"box":{"x":62,"y":726,"width":6,"height":4}},{"id":"408da7dd-e62a-43e9-bb8d-e340ce0ff961","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":97,"box":{"x":92,"y":722,"width":183,"height":11}},{"id":"e8a0f28e-d623-42f2-a0da-b0703f92cb6e","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":97,"box":{"x":62,"y":750,"width":860,"height":11}},{"id":"ea2c4ba8-48f6-4034-998e-84f04696ec28","block_type":"box","text":"which case leverage will not exceed the following:","page_number":97,"box":{"x":62,"y":764,"width":368,"height":11}},{"id":"a3027699-046c-468d-978e-438eaadd0725","block_type":"box","text":"","page_number":97,"box":{"x":62,"y":795,"width":6,"height":4}},{"id":"49ccd47f-d614-442c-a5cb-a93b18539f9a","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":97,"box":{"x":92,"y":792,"width":193,"height":11}},{"id":"cac906fd-1e55-49b4-bdae-528c59448197","block_type":"box","text":"","page_number":97,"box":{"x":62,"y":811,"width":6,"height":5}},{"id":"37a71400-277c-4067-a05d-51177604bec9","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":97,"box":{"x":92,"y":808,"width":183,"height":11}},{"id":"b67419c9-28ea-4bb1-9a41-3ed7dbaedbd5","block_type":"box","text":"Specific Risks","page_number":97,"box":{"x":62,"y":836,"width":113,"height":11}},{"id":"6e8f146b-3ff5-497d-8ccb-387aef783dd0","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":97,"box":{"x":181,"y":836,"width":462,"height":11}},{"id":"c1d9c452-6074-4d66-b824-df976d39a1c7","block_type":"box","text":"","page_number":97,"box":{"x":62,"y":859,"width":6,"height":5}},{"id":"092cda77-f4b0-46ec-9763-84410e8eec39","block_type":"box","text":"Smaller Companies","page_number":97,"box":{"x":92,"y":856,"width":145,"height":11}},{"id":"3e8ded37-98d6-4f84-9c67-5ccd0cadcab4","block_type":"box","text":"","page_number":97,"box":{"x":62,"y":874,"width":6,"height":4}},{"id":"2d2da2c9-fce3-4808-abbc-6563e674c876","block_type":"box","text":"Fixed Interest","page_number":97,"box":{"x":93,"y":871,"width":100,"height":9}},{"id":"54a19c59-95b8-41b4-bf60-9770b183cbee","block_type":"box","text":"","page_number":97,"box":{"x":62,"y":888,"width":6,"height":5}},{"id":"e85a7f4d-e042-4e85-9a14-de8fd1bed57b","block_type":"box","text":"Single Market","page_number":97,"box":{"x":92,"y":885,"width":102,"height":11}},{"id":"54fd93a3-0004-4b37-ab0b-b41519a38c93","block_type":"box","text":"","page_number":97,"box":{"x":62,"y":903,"width":6,"height":4}},{"id":"c4e82762-82d2-4c56-b6f9-f4d07e243fe3","block_type":"box","text":"Equity Securities","page_number":97,"box":{"x":93,"y":900,"width":123,"height":11}},{"id":"4788c69e-4842-416f-b9df-ecd2f846cd7d","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":98,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"13471fcb-fff4-4ccd-896e-ef099fde7b46","block_type":"box","text":"98","page_number":98,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"f7bde3a2-15da-46fb-a619-8754d9ebfc6f","block_type":"box","text":"Aviva Investors: Confidential","page_number":98,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"2cc42e16-9b07-4aae-b889-3fff22660946","block_type":"box","text":"Past Performance – AI UK Listed Equity Income Fund","page_number":98,"box":{"x":72,"y":59,"width":425,"height":11}},{"id":"8f0c334a-36dc-4f3f-b7cb-133f30e65bda","block_type":"box","text":"% Growth","page_number":98,"box":{"x":71,"y":79,"width":77,"height":9}},{"id":"9c29292f-f5db-4f6b-a4e7-ffe05938c1f9","block_type":"box","text":"1/1/2024 to","page_number":98,"box":{"x":290,"y":104,"width":94,"height":8}},{"id":"2655e7d1-00c9-426f-bdf7-152f904431c6","block_type":"box","text":"31/12/2024","page_number":98,"box":{"x":289,"y":117,"width":75,"height":8}},{"id":"35df8730-abc3-41e3-94d0-1963f4c08f78","block_type":"box","text":"1/1/2023 to","page_number":98,"box":{"x":404,"y":104,"width":94,"height":8}},{"id":"dbf6e928-97f4-42ce-9d3c-c72ff3a133db","block_type":"box","text":"31/12/2023","page_number":98,"box":{"x":403,"y":117,"width":75,"height":8}},{"id":"fa559d4a-b54b-4e74-9b73-3ccac1d9e3b7","block_type":"box","text":"1/1/2022 to","page_number":98,"box":{"x":517,"y":104,"width":94,"height":8}},{"id":"ba692395-24a2-49e0-8619-8d6a11fa20d8","block_type":"box","text":"31/12/2022","page_number":98,"box":{"x":516,"y":117,"width":75,"height":8}},{"id":"4953bbb1-09bd-4767-a642-68a760e13363","block_type":"box","text":"1/1/2021 to","page_number":98,"box":{"x":631,"y":104,"width":94,"height":8}},{"id":"f3f669f8-5477-4a94-8aba-de65acf5a08d","block_type":"box","text":"31/12/2021","page_number":98,"box":{"x":630,"y":117,"width":73,"height":8}},{"id":"a1aa8228-c773-4c8b-a8b9-e41b744a8f7f","block_type":"box","text":"1/1/2020 to","page_number":98,"box":{"x":744,"y":104,"width":94,"height":8}},{"id":"0ddbbae4-15c0-4a3b-b943-7b1ef7a76418","block_type":"box","text":"31/12/2020","page_number":98,"box":{"x":743,"y":117,"width":75,"height":8}},{"id":"2f985973-04c3-4c91-9eb3-0efee3663f9c","block_type":"box","text":"UK Corporate Income","page_number":98,"box":{"x":72,"y":141,"width":198,"height":11}},{"id":"20c10b94-efff-4487-9050-9c7c415f956a","block_type":"box","text":"Distribution Units (%)","page_number":98,"box":{"x":72,"y":154,"width":140,"height":10}},{"id":"a816f89f-a5cd-4fd9-8583-cb1bec31ae5f","block_type":"box","text":"14.24","page_number":98,"box":{"x":291,"y":142,"width":36,"height":7}},{"id":"316c2312-255a-4595-8f12-9f52b16c4632","block_type":"box","text":"12.75","page_number":98,"box":{"x":404,"y":142,"width":36,"height":8}},{"id":"49e893af-da73-4720-a5ab-d3fd0f682f15","block_type":"box","text":"1.83","page_number":98,"box":{"x":518,"y":142,"width":27,"height":8}},{"id":"e8995d03-2350-4e35-87ee-d5583bfdb046","block_type":"box","text":"31.4","page_number":98,"box":{"x":630,"y":142,"width":29,"height":8}},{"id":"c23516a8-82c9-4593-b67d-af46ada9491d","block_type":"box","text":"-15.3","page_number":98,"box":{"x":743,"y":142,"width":34,"height":8}},{"id":"dc2bfeec-98ec-409d-a97c-8ffcbb242803","block_type":"box","text":"Insured Pension Income","page_number":98,"box":{"x":72,"y":185,"width":198,"height":7}},{"id":"1c872e13-00f9-4c6e-94f0-53dc72387b9f","block_type":"box","text":"Distribution Units (%)","page_number":98,"box":{"x":72,"y":197,"width":140,"height":10}},{"id":"e9774ca6-0f2b-4127-a855-a2a7b5d31631","block_type":"box","text":"14.35","page_number":98,"box":{"x":291,"y":185,"width":35,"height":8}},{"id":"9d2153ef-ee47-4ac7-93ae-4738c2c9c75b","block_type":"box","text":"12.70","page_number":98,"box":{"x":404,"y":185,"width":36,"height":8}},{"id":"28ea17c6-3550-4d74-aca0-7f55c4422f72","block_type":"box","text":"1.94","page_number":98,"box":{"x":518,"y":185,"width":27,"height":8}},{"id":"b934dd8e-5ab5-4dbd-97c1-cb6cb4565198","block_type":"box","text":"31.4","page_number":98,"box":{"x":630,"y":185,"width":29,"height":8}},{"id":"e12dd5e7-0e66-4cdc-89d2-c30e5fd9564a","block_type":"box","text":"-15.2","page_number":98,"box":{"x":743,"y":185,"width":34,"height":8}},{"id":"66fc8afe-490e-415c-8962-2688c403daad","block_type":"box","text":"UK Institutional Accumulation","page_number":98,"box":{"x":72,"y":228,"width":198,"height":8}},{"id":"5123125e-f681-4caa-b463-b3e956b9b756","block_type":"box","text":"Units (%)","page_number":98,"box":{"x":72,"y":240,"width":60,"height":10}},{"id":"997f080a-429c-40fc-9953-316f76373c6f","block_type":"box","text":"13.77","page_number":98,"box":{"x":291,"y":228,"width":36,"height":8}},{"id":"82d36e69-748a-404f-891b-64e065deabb2","block_type":"box","text":"12.81","page_number":98,"box":{"x":404,"y":228,"width":34,"height":8}},{"id":"f58a71dc-1160-45e8-9351-46b2811551a2","block_type":"box","text":"2.04","page_number":98,"box":{"x":516,"y":228,"width":29,"height":8}},{"id":"c6d50fa0-f459-4ddb-bf48-f3ac47433f2a","block_type":"box","text":"31.6","page_number":98,"box":{"x":630,"y":228,"width":29,"height":8}},{"id":"409f1281-f143-4d0d-854a-4d31091c262e","block_type":"box","text":"-15.7","page_number":98,"box":{"x":743,"y":228,"width":34,"height":8}},{"id":"fe5817ca-de1c-4f19-8216-8a8c6afef527","block_type":"box","text":"ACS (Fund of Fund)","page_number":98,"box":{"x":71,"y":270,"width":199,"height":10}},{"id":"8f4745fc-1395-4aeb-aef0-feb2aa428751","block_type":"box","text":"Accumulation Units Class 1","page_number":98,"box":{"x":71,"y":283,"width":197,"height":8}},{"id":"dfcb9eca-4471-4348-93d6-dfe659cfe22f","block_type":"box","text":"(%)","page_number":98,"box":{"x":72,"y":295,"width":21,"height":10}},{"id":"b452e2b6-6756-4d82-bb30-bba728f06231","block_type":"box","text":"ACS (Fund of Fund)","page_number":98,"box":{"x":71,"y":320,"width":199,"height":10}},{"id":"20ef1a20-085c-4aab-8498-3952aec66e62","block_type":"box","text":"Accumulation Units Class 2","page_number":98,"box":{"x":71,"y":332,"width":199,"height":8}},{"id":"d938ddfc-f7d2-40cf-8670-1140b9e190da","block_type":"box","text":"(%)","page_number":98,"box":{"x":72,"y":344,"width":21,"height":10}},{"id":"dc626ac1-2d91-4edd-b0e7-9729ad4972b4","block_type":"box","text":"UK Corporate Accumulation","page_number":98,"box":{"x":72,"y":369,"width":198,"height":10}},{"id":"5662fb3a-408b-4767-9aef-d148cf8cc5f9","block_type":"box","text":"Units (%)","page_number":98,"box":{"x":72,"y":381,"width":60,"height":10}},{"id":"38e275a8-ce98-45f1-b9ef-c054340f8225","block_type":"box","text":"Insured Pension","page_number":98,"box":{"x":72,"y":406,"width":198,"height":8}},{"id":"74b71b39-e68a-4085-8c0e-24c11c54b267","block_type":"box","text":"Accumulation Units (%)","page_number":98,"box":{"x":71,"y":419,"width":156,"height":10}},{"id":"cdd0e141-63fb-4f31-811a-449f1d068291","block_type":"box","text":"UK Fund of Fund","page_number":98,"box":{"x":72,"y":443,"width":198,"height":8}},{"id":"392ff4d8-91bb-4e04-a963-c5894f754b2f","block_type":"box","text":"Accumulation Units (%)","page_number":98,"box":{"x":71,"y":456,"width":156,"height":10}},{"id":"44a86e3d-3318-4331-8e47-93f5240a1bde","block_type":"box","text":"Index - FTSE® All-Share","page_number":98,"box":{"x":72,"y":483,"width":199,"height":8}},{"id":"36d3cb01-6e8a-49ee-8c53-d68b4c19d91c","block_type":"box","text":"Total Return Index","page_number":98,"box":{"x":73,"y":496,"width":124,"height":8}},{"id":"8ed59734-b4e2-437a-8594-d03c4b68d84f","block_type":"box","text":"9.47","page_number":98,"box":{"x":290,"y":484,"width":30,"height":7}},{"id":"39eecc14-5db3-49b2-b5bd-4cb3648cb8bf","block_type":"box","text":"7.92","page_number":98,"box":{"x":405,"y":484,"width":27,"height":7}},{"id":"6bd9a7ec-115d-4e61-859c-47114ed783bd","block_type":"box","text":"0.34","page_number":98,"box":{"x":517,"y":484,"width":29,"height":7}},{"id":"bab87d99-8651-42a1-9dc1-6fbcc95b73a8","block_type":"box","text":"18.3","page_number":98,"box":{"x":633,"y":484,"width":27,"height":7}},{"id":"73f85066-f128-471d-a5ba-a11b22c7900c","block_type":"box","text":"-9.8","page_number":98,"box":{"x":744,"y":484,"width":26,"height":7}},{"id":"220ece3a-036d-4c82-9c7b-2fce0056bbe7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":99,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"12eae37b-925f-4cc0-8e68-9febcbea0cc4","block_type":"box","text":"99","page_number":99,"box":{"x":787,"y":940,"width":12,"height":6}},{"id":"88aea0b2-a494-4a0a-8bfb-e2047df00ecd","block_type":"box","text":"Aviva Investors: Confidential","page_number":99,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"b00958b9-80a6-4a05-ab39-76dd210532cc","block_type":"box","text":"AI Europe Equity ex UK Fund","page_number":99,"box":{"x":62,"y":53,"width":232,"height":11}},{"id":"f81330ef-0073-46f8-9d01-4b26d15b6221","block_type":"box","text":"FCA product reference number: 658300","page_number":99,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"bfb92874-0749-4526-b336-57296e46050e","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":99,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"b6570831-c90d-45bd-bc8d-39a27775649e","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":99,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"bf2c4bad-7e33-4ad5-953a-b952e65bf032","block_type":"box","text":"Investment Objective and Policy","page_number":99,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"868b50c5-b6b0-43a6-beb1-1fd91414bbf8","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of European","page_number":99,"box":{"x":62,"y":184,"width":860,"height":11}},{"id":"c4abeaee-264a-446e-a66c-ae42722bf7d1","block_type":"box","text":"companies, excluding the UK.","page_number":99,"box":{"x":62,"y":198,"width":220,"height":11}},{"id":"38c74169-7d34-4f3c-a4f9-9cdb80ad7bbb","block_type":"box","text":"Core investment:","page_number":99,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"22ab7cdc-b48d-4651-bc1a-1bbb7034576f","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of companies which are domiciled in continental Europe,","page_number":99,"box":{"x":62,"y":236,"width":860,"height":12}},{"id":"c81d30b3-bbf8-48ea-81f0-6ec5dc7e901d","block_type":"box","text":"excluding the UK.","page_number":99,"box":{"x":62,"y":250,"width":129,"height":11}},{"id":"d2de34a3-4a75-4f3e-973b-918891ef739d","block_type":"box","text":"Other investments:","page_number":99,"box":{"x":62,"y":270,"width":151,"height":9}},{"id":"24f6bcd8-c41c-4f29-8d4d-2fe26621ee24","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by the Investment Manager),","page_number":99,"box":{"x":62,"y":289,"width":860,"height":12}},{"id":"9423d402-ba58-42ef-9a70-5114cae2109b","block_type":"box","text":"derivatives, cash and deposits.","page_number":99,"box":{"x":62,"y":303,"width":228,"height":11}},{"id":"f4b75417-4392-4e16-b7ed-ecffbdc6afd5","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":99,"box":{"x":63,"y":323,"width":860,"height":11}},{"id":"9db7beed-1a86-47f1-998f-43da66337d9c","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":99,"box":{"x":62,"y":336,"width":861,"height":12}},{"id":"258528b4-5a74-42a1-af54-7decfc4effff","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":99,"box":{"x":62,"y":350,"width":545,"height":11}},{"id":"886a7e71-1338-4dcc-84e0-88b3bf898ca5","block_type":"box","text":"Strategy:","page_number":99,"box":{"x":62,"y":369,"width":70,"height":12}},{"id":"68c6b3d0-9cfe-4b32-b07e-e49b0ee425f5","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager aims to achieve the Sub-Fund’s objective by","page_number":99,"box":{"x":62,"y":389,"width":861,"height":11}},{"id":"cba3febf-e331-4e11-aa15-e6a068897533","block_type":"box","text":"investing primarily in shares of companies domiciled in Continental Europe. The Investment Manager has structural","page_number":99,"box":{"x":62,"y":403,"width":860,"height":11}},{"id":"ece429f4-28fd-4116-94ab-c25852acb1f4","block_type":"box","text":"style bias and therefore aims to add value regardless of the market backdrop, using a disciplined bottom-up approach","page_number":99,"box":{"x":62,"y":416,"width":860,"height":12}},{"id":"83e2cdf0-7f87-47e0-987d-67f3a7e10cc5","block_type":"box","text":"which leverages the strength of its research capability.","page_number":99,"box":{"x":62,"y":430,"width":401,"height":11}},{"id":"72978e4d-0876-42ac-8c65-5a85a8ee1e7e","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":99,"box":{"x":62,"y":450,"width":527,"height":11}},{"id":"6e9a9c8c-cfd5-4903-a8ec-96462bb50906","block_type":"box","text":"please see Appendix 2 for information on","page_number":99,"box":{"x":594,"y":450,"width":328,"height":11}},{"id":"ce467b1c-0d57-41ff-9c79-3363754037ad","block_type":"box","text":"these limited investment restrictions.","page_number":99,"box":{"x":62,"y":464,"width":295,"height":8}},{"id":"5ccd0674-8508-436e-8ab1-93b129e0a333","block_type":"box","text":"Performance & Risk Measurement:","page_number":99,"box":{"x":63,"y":483,"width":275,"height":9}},{"id":"f82430ce-3ed0-464f-9b16-e70876600011","block_type":"box","text":"The Sub-Fund’s performance is compared against the FTSE® Developed Europe (ex UK) Total Return Index (the","page_number":99,"box":{"x":62,"y":503,"width":861,"height":11}},{"id":"27169a38-1361-4428-ae77-70722a3a274f","block_type":"box","text":"“Index”)","page_number":99,"box":{"x":62,"y":516,"width":56,"height":11}},{"id":"ea6177d5-df1b-4ea2-8969-7f94c02e29c6","block_type":"box","text":"□","page_number":99,"box":{"x":120,"y":518,"width":5,"height":3}},{"id":"bfbc7092-34d6-4838-80ff-53dac5b9b968","block_type":"box","text":".","page_number":99,"box":{"x":127,"y":524,"width":2,"height":1}},{"id":"a41be9c7-9bfb-4583-8d2b-338d62d5e1e7","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":99,"box":{"x":62,"y":536,"width":860,"height":11}},{"id":"437fff0a-ed6d-482e-9049-d005a595270e","block_type":"box","text":"may also hold companies that do not form part of it. The Sub-Fund will not invest in shares of companies within the","page_number":99,"box":{"x":62,"y":549,"width":861,"height":12}},{"id":"7f312ba1-14f1-4c0e-ad98-5e4033745eac","block_type":"box","text":"Aviva Group.","page_number":99,"box":{"x":62,"y":563,"width":95,"height":11}},{"id":"12e2e71b-ad84-492e-8678-2af04d1b5a4d","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":99,"box":{"x":62,"y":583,"width":861,"height":11}},{"id":"354a4b49-7160-4d92-af73-e1d2c0a4e424","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":99,"box":{"x":63,"y":596,"width":859,"height":12}},{"id":"4cbd9d2d-61c8-494b-b02a-3d7fe129bf91","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2% and 5% when","page_number":99,"box":{"x":62,"y":610,"width":860,"height":11}},{"id":"1255e684-4069-46d3-8e91-3449ae7fca39","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":99,"box":{"x":62,"y":624,"width":650,"height":11}},{"id":"45fe469a-30a2-4e15-939a-5780d4629de8","block_type":"box","text":"The Index represents developed markets in Europe, excluding the UK, and consists of large and medium sized","page_number":99,"box":{"x":62,"y":643,"width":860,"height":12}},{"id":"2716a019-118d-4d7b-aa86-e9d2071f8d06","block_type":"box","text":"companies, as defined by their market capitalisation (total market value of a company’s outstanding shares).","page_number":99,"box":{"x":62,"y":657,"width":801,"height":11}},{"id":"81718ffb-0dc3-45a6-8227-f18c300dbf9e","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":99,"box":{"x":62,"y":677,"width":861,"height":11}},{"id":"1b23d135-e72b-48f6-b0df-268e114c0fb4","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the","page_number":99,"box":{"x":62,"y":690,"width":861,"height":11}},{"id":"bb2a523a-a5ae-41d2-a008-2785b939c0c0","block_type":"box","text":"Sub-Fund’s performance.","page_number":99,"box":{"x":62,"y":704,"width":187,"height":11}},{"id":"5afa9b2b-2e18-4b8d-9eca-314699f8dc96","block_type":"box","text":"Additional Information","page_number":99,"box":{"x":62,"y":743,"width":177,"height":9}},{"id":"2e8b4742-e4f4-4339-87f4-e66504c86ab4","block_type":"box","text":"Investment Manager","page_number":99,"box":{"x":118,"y":769,"width":151,"height":12}},{"id":"49995f07-f0c6-4a0d-ab59-b68ca4346a29","block_type":"box","text":"FIL Pensions Management","page_number":99,"box":{"x":354,"y":769,"width":198,"height":12}},{"id":"9050e6cd-c0f6-44ee-b608-62fc724d934e","block_type":"box","text":"Sub-Investment Manager","page_number":99,"box":{"x":117,"y":795,"width":188,"height":12}},{"id":"0e733693-b3b7-4390-a54c-d2bdd2d55bff","block_type":"box","text":"FIL Investments International","page_number":99,"box":{"x":354,"y":796,"width":214,"height":8}},{"id":"c8f3a5b5-d9a2-421e-90d3-07e51c802eb3","block_type":"box","text":"Type of Units","page_number":99,"box":{"x":116,"y":821,"width":98,"height":12}},{"id":"7d272a7d-3671-43e0-abfe-f7d456d06b05","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":99,"box":{"x":353,"y":821,"width":292,"height":12}},{"id":"1d8eb033-00be-411a-828b-3b5a538d628b","block_type":"box","text":"Insured Pension Income Distribution Units","page_number":99,"box":{"x":354,"y":848,"width":310,"height":9}},{"id":"e146443e-fc02-4ff5-a3ee-d62011a6f8b3","block_type":"box","text":"UK Institutional Accumulation Units","page_number":99,"box":{"x":353,"y":874,"width":260,"height":9}},{"id":"41d5dadd-bb6f-4901-8e38-b6b7eaba79d7","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 1)","page_number":99,"box":{"x":352,"y":900,"width":369,"height":11}},{"id":"ceee394e-0f5b-4109-a0da-b6f55f33e213","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":100,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"952004a0-263f-4296-9eb0-db6d1ad1b4a4","block_type":"box","text":"100","page_number":100,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"ba1a6cd2-a792-47a3-94ce-9d7e1769edff","block_type":"box","text":"Aviva Investors: Confidential","page_number":100,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"bd41fb4c-0ca3-488d-9de0-854d1fc1668d","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 2)","page_number":100,"box":{"x":352,"y":59,"width":369,"height":11}},{"id":"9d749947-74bc-4ef8-ba94-f0b72d707347","block_type":"box","text":"Dealing Day","page_number":100,"box":{"x":118,"y":85,"width":89,"height":11}},{"id":"fcbdd4ff-a41f-4ffd-bf9d-576cfab5f96b","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":100,"box":{"x":354,"y":85,"width":393,"height":11}},{"id":"a2b72a18-4fac-4b08-94ec-7f38377bba1d","block_type":"box","text":"Deal Cut-Off Point","page_number":100,"box":{"x":118,"y":111,"width":134,"height":9}},{"id":"f0a70958-19e4-4d92-8a97-81950d7566dd","block_type":"box","text":"2.00 p.m.","page_number":100,"box":{"x":353,"y":112,"width":67,"height":10}},{"id":"956067c2-7f0b-44d0-9d44-c60414ffc0a0","block_type":"box","text":"Valuation Point","page_number":100,"box":{"x":117,"y":138,"width":112,"height":8}},{"id":"97c75d5a-eefb-4d23-b23b-788dd90b5d61","block_type":"box","text":"3.00 p.m.","page_number":100,"box":{"x":353,"y":138,"width":67,"height":11}},{"id":"b280f695-9bf6-4672-980e-a85a8672bb4b","block_type":"box","text":"*Minimum Investment","page_number":100,"box":{"x":117,"y":164,"width":172,"height":8}},{"id":"229e349e-68f9-4c4e-a625-4144dffeb48d","block_type":"box","text":"UK Corporate Income","page_number":100,"box":{"x":118,"y":189,"width":160,"height":12}},{"id":"8698e92b-48b9-4e2f-9de0-3e79652325cf","block_type":"box","text":"Distribution Units, Insured","page_number":100,"box":{"x":118,"y":204,"width":189,"height":10}},{"id":"91ad5ff6-d554-41ff-b4e4-61b1185f65d6","block_type":"box","text":"Pension Income Distribution","page_number":100,"box":{"x":118,"y":217,"width":206,"height":9}},{"id":"eabe44a2-056c-4f07-8014-797f17681f7a","block_type":"box","text":"Units,","page_number":100,"box":{"x":118,"y":231,"width":40,"height":10}},{"id":"7f68249d-4982-4c65-85d2-534e5b7809c2","block_type":"box","text":"UK Institutional","page_number":100,"box":{"x":165,"y":231,"width":111,"height":8}},{"id":"f7eb32f2-3716-40b5-abc3-17b47793f541","block_type":"box","text":"Accumulation Units, ACS","page_number":100,"box":{"x":116,"y":244,"width":187,"height":11}},{"id":"89128f90-3906-40cc-9b11-918493d9c151","block_type":"box","text":"(Fund of Fund) Accumulation","page_number":100,"box":{"x":117,"y":258,"width":215,"height":11}},{"id":"13bec453-0f63-4ce3-8a0c-4948e89494a1","block_type":"box","text":"Units (Class 1), ACS (Fund","page_number":100,"box":{"x":118,"y":272,"width":200,"height":11}},{"id":"8d893455-15b4-47e4-8912-fa316ecbb59d","block_type":"box","text":"of Fund) Accumulation Units","page_number":100,"box":{"x":117,"y":285,"width":210,"height":11}},{"id":"1150df9f-d161-4e88-9d9b-248f84050268","block_type":"box","text":"(Class 2)","page_number":100,"box":{"x":117,"y":299,"width":65,"height":11}},{"id":"a4dea45c-9541-4013-b74d-77f9585e1f5c","block_type":"box","text":"No minimum","page_number":100,"box":{"x":353,"y":190,"width":92,"height":8}},{"id":"1fe0158c-b185-4afd-b110-a40807f54497","block_type":"box","text":"*Minimum withdrawal","page_number":100,"box":{"x":117,"y":325,"width":157,"height":9}},{"id":"d8cdd7ca-0f13-4a16-824a-6e17a6881736","block_type":"box","text":"No minimum","page_number":100,"box":{"x":353,"y":325,"width":92,"height":9}},{"id":"e3f7e3b3-b717-4609-9e8a-832d2f9ae0ef","block_type":"box","text":"Tax Criteria for investment","page_number":100,"box":{"x":116,"y":351,"width":213,"height":9}},{"id":"306afc5f-237e-460c-bace-bb3fee1f7308","block_type":"box","text":"UK Corporate Income","page_number":100,"box":{"x":118,"y":377,"width":160,"height":11}},{"id":"79cf6427-bdb2-40aa-b8e2-8477a1908d8f","block_type":"box","text":"Distribution Units","page_number":100,"box":{"x":118,"y":391,"width":124,"height":9}},{"id":"fbf8e43a-d3a3-4a58-8b3f-4ad45a91f09a","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":100,"box":{"x":352,"y":377,"width":404,"height":11}},{"id":"d99385cc-90bc-441d-b054-ca65e7fc73df","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":100,"box":{"x":353,"y":391,"width":404,"height":11}},{"id":"fe28b985-7214-4c42-9358-4dfd0d2835ee","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":100,"box":{"x":352,"y":405,"width":405,"height":11}},{"id":"fff42158-1fb4-4c64-acab-342dbdd6c6c8","block_type":"box","text":"linked pension business contracts.","page_number":100,"box":{"x":353,"y":418,"width":253,"height":11}},{"id":"39a04b4a-b313-4ce2-a8ae-ec1fc6993c2e","block_type":"box","text":"Insured Pension Income","page_number":100,"box":{"x":118,"y":444,"width":179,"height":9}},{"id":"58f6a355-2b50-4b04-b2ee-99e8102dcb96","block_type":"box","text":"Distribution Units","page_number":100,"box":{"x":118,"y":458,"width":124,"height":9}},{"id":"2785b9dd-f066-4e44-85e4-0c2661f13dbd","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":100,"box":{"x":352,"y":444,"width":404,"height":12}},{"id":"0d2617dc-1b98-470f-b17e-ea2a5bd02398","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":100,"box":{"x":353,"y":458,"width":404,"height":11}},{"id":"1efb11a9-3258-4a89-9959-005e126a9f95","block_type":"box","text":"back exclusively its unit linked pension business","page_number":100,"box":{"x":353,"y":472,"width":404,"height":11}},{"id":"dfad327d-563b-4f81-b07d-209e4fb55964","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":100,"box":{"x":353,"y":485,"width":404,"height":12}},{"id":"7d773934-174d-4624-a156-be1dab2c280a","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":100,"box":{"x":353,"y":499,"width":307,"height":11}},{"id":"43287b4f-f5f8-4d05-bbaf-3b0549202313","block_type":"box","text":"UK Institutional","page_number":100,"box":{"x":118,"y":525,"width":110,"height":9}},{"id":"ac36e1e2-63b4-4d9f-9526-7ece57d45385","block_type":"box","text":"Accumulation Units","page_number":100,"box":{"x":116,"y":539,"width":143,"height":9}},{"id":"24bf18de-6f96-4d67-9935-5d4c7c700c6f","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":100,"box":{"x":352,"y":525,"width":404,"height":11}},{"id":"8d37bab7-02f8-4791-a429-cc3a8968ef3a","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":100,"box":{"x":353,"y":539,"width":403,"height":11}},{"id":"197a3821-754e-45fb-b2a1-c592f53a5222","block_type":"box","text":"tax treaties.","page_number":100,"box":{"x":352,"y":553,"width":85,"height":8}},{"id":"71ebbf27-f599-4b8d-ad9f-7e3237af3faf","block_type":"box","text":"ACS (Fund of Fund)","page_number":100,"box":{"x":116,"y":584,"width":149,"height":12}},{"id":"49b390fc-a54c-4f27-9daa-97ff08b67c87","block_type":"box","text":"Accumulation Units (Class","page_number":100,"box":{"x":116,"y":598,"width":195,"height":11}},{"id":"138d6db1-8b42-46fc-8632-dca75c51b572","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":100,"box":{"x":118,"y":612,"width":171,"height":11}},{"id":"2169f2eb-7c08-47bc-9576-e2c4a5bc68fb","block_type":"box","text":"Accumulation Units (Class 2)","page_number":100,"box":{"x":116,"y":625,"width":215,"height":12}},{"id":"05d8f6d8-56ba-47c6-9a8d-8f2b2c8dd09b","block_type":"box","text":"A sub-fund of a UK authorised contractual scheme","page_number":100,"box":{"x":352,"y":585,"width":375,"height":8}},{"id":"7f5fb145-d2cd-4a42-8d92-7af2dfde6865","block_type":"box","text":"**Current Charges:","page_number":100,"box":{"x":117,"y":652,"width":149,"height":11}},{"id":"3588973a-8021-4398-8400-f630500b9de1","block_type":"box","text":"UK Corporate Income","page_number":100,"box":{"x":118,"y":678,"width":160,"height":11}},{"id":"b76753ba-fb4f-4997-97c4-29bf3fc9f9b4","block_type":"box","text":"Distribution Units, Insured","page_number":100,"box":{"x":118,"y":691,"width":189,"height":11}},{"id":"30db66d9-83ca-4d51-b366-633559054895","block_type":"box","text":"Pension Income Distribution","page_number":100,"box":{"x":118,"y":705,"width":206,"height":9}},{"id":"2198853b-ebd7-4593-ac14-687b168fd264","block_type":"box","text":"Units, UK Institutional","page_number":100,"box":{"x":118,"y":719,"width":158,"height":10}},{"id":"d68a3cc6-bbde-4c7a-9afb-e91eb01a9234","block_type":"box","text":"Accumulation Units, ACS","page_number":100,"box":{"x":116,"y":732,"width":187,"height":11}},{"id":"0dfba1ba-70d3-428a-aed2-66175f351eba","block_type":"box","text":"(Fund of Fund) Accumulation","page_number":100,"box":{"x":117,"y":746,"width":215,"height":11}},{"id":"0ba9a51b-0dfc-495a-a2a2-0c4307261e84","block_type":"box","text":"Units (Class 1), ACS (Fund","page_number":100,"box":{"x":118,"y":760,"width":200,"height":11}},{"id":"3b6b5d24-2225-402b-864e-8d11869cc1d1","block_type":"box","text":"of Fund) Accumulation Units","page_number":100,"box":{"x":117,"y":773,"width":210,"height":11}},{"id":"88c17c1c-8f61-4f01-977d-7a213424ca31","block_type":"box","text":"(Class 2)","page_number":100,"box":{"x":117,"y":787,"width":65,"height":11}},{"id":"e1ff9d9e-5177-4548-9281-d6516cb2f5c0","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":100,"box":{"x":352,"y":678,"width":404,"height":11}},{"id":"251b22c7-4fc7-4ae8-93fb-9237b3c7cdf4","block_type":"box","text":"Unitholder***","page_number":100,"box":{"x":353,"y":692,"width":94,"height":8}},{"id":"b6cc64b2-1c2f-4e05-9dae-a9f1051077d2","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":100,"box":{"x":352,"y":711,"width":404,"height":11}},{"id":"8836c3b1-7017-4336-b4e9-a8b6da383802","block_type":"box","text":"property","page_number":100,"box":{"x":353,"y":725,"width":60,"height":11}},{"id":"56b128a0-420d-45c1-a2a1-6d94416f3346","block_type":"box","text":"Accounting Dates","page_number":100,"box":{"x":117,"y":813,"width":141,"height":11}},{"id":"216a7e8d-3422-4153-853b-f844f11af0f0","block_type":"box","text":"Annual Accounting Date","page_number":100,"box":{"x":116,"y":839,"width":180,"height":11}},{"id":"ed377404-33a8-487c-885c-2c890ed503b8","block_type":"box","text":"31 December","page_number":100,"box":{"x":353,"y":839,"width":100,"height":9}},{"id":"105448ff-c5b5-47cc-a91f-864bbbdcdd02","block_type":"box","text":"First Accounting Date","page_number":100,"box":{"x":118,"y":866,"width":158,"height":11}},{"id":"9b2469ae-7805-43ea-868a-43128015985d","block_type":"box","text":"31 December 2015","page_number":100,"box":{"x":353,"y":866,"width":141,"height":8}},{"id":"4eace8fa-614a-4869-9e34-f54987c93195","block_type":"box","text":"Annual Income Allocation","page_number":100,"box":{"x":116,"y":892,"width":188,"height":8}},{"id":"d414ff95-f164-4430-87c2-3778d38d15e4","block_type":"box","text":"Date","page_number":100,"box":{"x":118,"y":905,"width":33,"height":9}},{"id":"0a31def4-c5ff-48eb-af86-85f973f4afaf","block_type":"box","text":"On or before 28 /29 February","page_number":100,"box":{"x":353,"y":891,"width":217,"height":12}},{"id":"f300002e-8101-425d-8f2f-5d98a14b1ff8","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":101,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"698a7d73-91f4-4263-9968-ab78b584924d","block_type":"box","text":"101","page_number":101,"box":{"x":781,"y":940,"width":16,"height":6}},{"id":"f3547468-9e22-450b-8efa-fd7561787c65","block_type":"box","text":"Aviva Investors: Confidential","page_number":101,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"7fc14fd4-bad6-4d4d-aa0c-b4493c0a0f3f","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":101,"box":{"x":118,"y":59,"width":293,"height":11}},{"id":"8851fe48-a8f9-423c-9e4c-6499a81754eb","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":101,"box":{"x":62,"y":85,"width":861,"height":11}},{"id":"792592ba-2f79-457b-9b8b-d106ddae66fd","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":101,"box":{"x":62,"y":99,"width":408,"height":11}},{"id":"7d342377-e981-49ab-9d93-35e43ebfa6e6","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":101,"box":{"x":62,"y":118,"width":642,"height":12}},{"id":"fcfd027e-eef2-4f3b-a2f9-20b13b4f8ebc","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":101,"box":{"x":62,"y":138,"width":860,"height":11}},{"id":"cb560d67-ecd2-4036-b6b5-bf826d4f7b7a","block_type":"box","text":"this Prospectus.","page_number":101,"box":{"x":62,"y":152,"width":117,"height":11}},{"id":"9866bb75-2102-4a62-9240-86c3b7e0cb6b","block_type":"box","text":"*** In certain circumstances where one Sub-Fund of the Scheme invests in Units of another, the ACS Management","page_number":101,"box":{"x":62,"y":171,"width":861,"height":11}},{"id":"c80fd1a5-1216-4d09-8fd8-caa2b3ca4df2","block_type":"box","text":"charge will not be charged to the investing Sub-Fund. Further information is provided at paragraph 5.8 of Appendix 6","page_number":101,"box":{"x":62,"y":185,"width":861,"height":11}},{"id":"17dd8e77-1483-4c7f-9f66-28ed80017a7e","block_type":"box","text":"below.","page_number":101,"box":{"x":62,"y":199,"width":46,"height":8}},{"id":"5b9e809c-9a10-4d06-b0e7-17e93a2aafed","block_type":"box","text":"□","page_number":101,"box":{"x":62,"y":220,"width":5,"height":3}},{"id":"c1465a2c-8e51-4df3-9a4d-7bc8547738bd","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":101,"box":{"x":74,"y":218,"width":342,"height":9}},{"id":"1b41168f-3843-4d67-8bb1-942fc7600f44","block_type":"box","text":"Securities Financing and other Transactions:","page_number":101,"box":{"x":62,"y":251,"width":358,"height":12}},{"id":"d6de86ef-ab67-4a0c-8608-b09145424082","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":101,"box":{"x":62,"y":271,"width":860,"height":11}},{"id":"0dec701a-9e27-4307-94ff-e282ee9bdc5a","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":101,"box":{"x":62,"y":285,"width":438,"height":11}},{"id":"c9e2f3e0-1536-4a7a-b25a-9da96179586a","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":101,"box":{"x":62,"y":324,"width":861,"height":11}},{"id":"6f88b210-5d76-46d0-8c52-d5ec9277b50e","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":101,"box":{"x":62,"y":337,"width":860,"height":12}},{"id":"19a464fc-cd4e-4fd2-9f70-e4d1123ee11d","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":101,"box":{"x":62,"y":351,"width":861,"height":11}},{"id":"dfb4c6a4-fefb-4a9c-ad92-7c5ba0679585","block_type":"box","text":"15%.","page_number":101,"box":{"x":63,"y":365,"width":35,"height":9}},{"id":"85990d8e-969e-4c76-bf94-d3d53d9ba5c2","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":101,"box":{"x":62,"y":404,"width":860,"height":11}},{"id":"05a51f45-5ee6-4e7e-a806-027f1b895cea","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":101,"box":{"x":62,"y":418,"width":860,"height":11}},{"id":"2a6aa11f-b090-40c8-b266-8894e606a533","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":101,"box":{"x":62,"y":431,"width":861,"height":12}},{"id":"489a0121-1911-4161-b4b8-f1e4e05b4f47","block_type":"box","text":"is zero.","page_number":101,"box":{"x":62,"y":445,"width":52,"height":9}},{"id":"b73679cf-4a21-476e-9874-6469c95078ce","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":101,"box":{"x":62,"y":504,"width":249,"height":9}},{"id":"3553c49f-1010-4575-822d-bc0faf5bd178","block_type":"box","text":"Leverage","page_number":101,"box":{"x":63,"y":543,"width":72,"height":11}},{"id":"49e466c6-382d-48a5-8a37-f3b6201e2dac","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":101,"box":{"x":63,"y":563,"width":860,"height":11}},{"id":"87ab71fd-1ecf-441b-8197-a019c88718ea","block_type":"box","text":"management.","page_number":101,"box":{"x":62,"y":577,"width":101,"height":10}},{"id":"f8c55cce-a493-47c0-976f-4ffdab2b8e7f","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":101,"box":{"x":62,"y":609,"width":860,"height":12}},{"id":"f7a97f02-5b0a-41bf-994d-21eb1230f2a2","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":101,"box":{"x":62,"y":623,"width":649,"height":11}},{"id":"6361501c-5b2b-4561-a511-eb5348c9d434","block_type":"box","text":"All transactions in derivatives are fully covered, and are not used as a means of gearing the Sub-Fund.","page_number":101,"box":{"x":62,"y":650,"width":760,"height":12}},{"id":"b5f809a1-5265-45f0-b8ce-50d1433fd208","block_type":"box","text":"Permitted derivatives","page_number":101,"box":{"x":72,"y":680,"width":168,"height":9}},{"id":"d71a30fe-0ccf-4664-8889-22f46ca12305","block_type":"box","text":"Permitted?","page_number":101,"box":{"x":383,"y":680,"width":85,"height":9}},{"id":"37062a95-b144-41bd-a0a8-3dcee38c1c51","block_type":"box","text":"Prohibited?","page_number":101,"box":{"x":489,"y":680,"width":91,"height":9}},{"id":"0cad04db-adf1-4157-a2b6-4b38ecf94d52","block_type":"box","text":"Equity index futures","page_number":101,"box":{"x":72,"y":701,"width":146,"height":11}},{"id":"2e10defd-d27e-4d89-864f-01ac6d2161c8","block_type":"box","text":"√","page_number":101,"box":{"x":421,"y":701,"width":8,"height":8}},{"id":"1e9dc5b9-887d-41cd-bfc5-d315b745934b","block_type":"box","text":"Government bond futures","page_number":101,"box":{"x":72,"y":719,"width":188,"height":9}},{"id":"d3fe4fc5-8eed-4727-83dd-15302c1576ee","block_type":"box","text":"√","page_number":101,"box":{"x":530,"y":720,"width":8,"height":7}},{"id":"df4b846a-e086-4a76-b527-f114eab77b13","block_type":"box","text":"Equity index options","page_number":101,"box":{"x":72,"y":738,"width":148,"height":11}},{"id":"6c215135-b86a-4451-b5c2-a6e7c0fca15d","block_type":"box","text":"√","page_number":101,"box":{"x":421,"y":738,"width":8,"height":8}},{"id":"b8b35143-ed25-4c00-a61d-f68d31e3a9f5","block_type":"box","text":"Forward foreign exchange","page_number":101,"box":{"x":72,"y":756,"width":193,"height":11}},{"id":"d529d218-0108-4412-bd56-0993419baf9f","block_type":"box","text":"√","page_number":101,"box":{"x":421,"y":757,"width":8,"height":7}},{"id":"84e8cffd-b29f-489a-a58a-ccf1c2b85e76","block_type":"box","text":"Index credit default swaps","page_number":101,"box":{"x":72,"y":775,"width":192,"height":11}},{"id":"83090b01-9161-4b2a-8e25-6cab4c604ef3","block_type":"box","text":"√","page_number":101,"box":{"x":530,"y":775,"width":8,"height":8}},{"id":"a55296c8-490a-41d3-aa44-272dd8abb858","block_type":"box","text":"Interest rate swaps","page_number":101,"box":{"x":72,"y":793,"width":140,"height":11}},{"id":"a114e07f-373f-47f9-8db1-3d548b9f6763","block_type":"box","text":"√","page_number":101,"box":{"x":530,"y":793,"width":8,"height":8}},{"id":"5c1b924c-90bc-42ea-a28f-58532e4d51ae","block_type":"box","text":"OTC equity options","page_number":101,"box":{"x":72,"y":811,"width":142,"height":11}},{"id":"61f06eb0-b9f5-49c4-8d8e-196e7c92b9f2","block_type":"box","text":"√","page_number":101,"box":{"x":421,"y":812,"width":8,"height":7}},{"id":"6d184bcf-31a6-4d70-bd0c-1f0ae4e54417","block_type":"box","text":"Inflation swaps","page_number":101,"box":{"x":72,"y":830,"width":109,"height":11}},{"id":"649b308f-1ee0-4c74-ab5d-dabc7f8bd7c5","block_type":"box","text":"√","page_number":101,"box":{"x":530,"y":830,"width":8,"height":8}},{"id":"7128705c-8441-445e-bd8b-a297f1ac55e5","block_type":"box","text":"Cross currency swaps","page_number":101,"box":{"x":72,"y":848,"width":163,"height":11}},{"id":"07d35491-8b4e-4adf-a4e3-5738ad538fc8","block_type":"box","text":"√","page_number":101,"box":{"x":530,"y":849,"width":8,"height":7}},{"id":"693e58f6-081f-44f8-ab7b-68cc980c153b","block_type":"box","text":"Other","page_number":101,"box":{"x":72,"y":867,"width":41,"height":8}},{"id":"6f2b5221-13ab-42bc-b04f-13b1282d2078","block_type":"box","text":"√","page_number":101,"box":{"x":530,"y":867,"width":8,"height":8}},{"id":"32614fb6-4385-403f-999e-1538adc11194","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":101,"box":{"x":63,"y":894,"width":860,"height":12}},{"id":"06479968-6bd9-4287-ae55-0b68fedbe3ff","block_type":"box","text":"2)","page_number":101,"box":{"x":62,"y":908,"width":13,"height":11}},{"id":"243d9534-ca11-4955-b549-eae269e03637","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":102,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"ac0da18a-e771-4daa-9afd-c793162978ba","block_type":"box","text":"102","page_number":102,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"af50ff1a-74fe-419b-8675-5ade4c0ec87e","block_type":"box","text":"Aviva Investors: Confidential","page_number":102,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d9c2f69a-9aab-4cb4-8d81-4c3d71a20671","block_type":"box","text":"Leverage Limits","page_number":102,"box":{"x":63,"y":80,"width":128,"height":11}},{"id":"752ef867-ad6d-431d-ba1a-dabc24d415e1","block_type":"box","text":"(Exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":102,"box":{"x":200,"y":80,"width":722,"height":11}},{"id":"2d2578d5-bf67-4ef7-8921-7d9041797065","block_type":"box","text":"Regime):","page_number":102,"box":{"x":63,"y":93,"width":65,"height":12}},{"id":"ccc0358d-7a2e-4642-a174-f1b670827015","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":102,"box":{"x":62,"y":121,"width":471,"height":11}},{"id":"283c883a-ed86-47b8-bbd2-e8118b2239d4","block_type":"box","text":"","page_number":102,"box":{"x":62,"y":152,"width":6,"height":4}},{"id":"1b5f1fc1-a0cf-4a19-ac8b-04548b333a18","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":102,"box":{"x":92,"y":149,"width":193,"height":11}},{"id":"067397de-51c4-403f-8bed-208086590b26","block_type":"box","text":"","page_number":102,"box":{"x":62,"y":169,"width":6,"height":4}},{"id":"9998b4c9-77ec-4ab3-a94b-2e73378c38a6","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":102,"box":{"x":92,"y":165,"width":183,"height":12}},{"id":"a1a68dfe-05d3-42e0-82e7-05e7b50f5cc8","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":102,"box":{"x":62,"y":193,"width":860,"height":11}},{"id":"b45eb06c-92b0-4e54-94a1-9bb3d91f07ed","block_type":"box","text":"which case leverage will not exceed the following:","page_number":102,"box":{"x":62,"y":207,"width":368,"height":11}},{"id":"517e87c0-6140-4b7f-b1b5-20078695d6f2","block_type":"box","text":"","page_number":102,"box":{"x":62,"y":238,"width":6,"height":4}},{"id":"571e192f-8d20-4918-b8ea-a9ba82a0a47d","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":102,"box":{"x":92,"y":235,"width":193,"height":11}},{"id":"9f6a8676-f7b0-4f12-a65b-ede2dfbf5d8a","block_type":"box","text":"","page_number":102,"box":{"x":62,"y":254,"width":6,"height":5}},{"id":"1493b029-955a-47d7-9a2c-b6f3df06bb9e","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":102,"box":{"x":92,"y":251,"width":183,"height":11}},{"id":"04bba905-904e-45d3-a30f-bdfccff4c251","block_type":"box","text":"Specific Risks","page_number":102,"box":{"x":62,"y":279,"width":113,"height":11}},{"id":"3eb675ea-2851-4544-96b2-6dbab4425434","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":102,"box":{"x":181,"y":279,"width":462,"height":11}},{"id":"1d0e5a5e-4c20-4f2b-87f4-252b2943122d","block_type":"box","text":"","page_number":102,"box":{"x":62,"y":302,"width":6,"height":5}},{"id":"3e99a7ec-f217-4555-b15f-af91ad9c0b7e","block_type":"box","text":"Emerging Markets","page_number":102,"box":{"x":93,"y":299,"width":134,"height":11}},{"id":"fde3d194-e702-43a6-a250-835f5d79f6f6","block_type":"box","text":"","page_number":102,"box":{"x":62,"y":317,"width":6,"height":4}},{"id":"2c1df290-f45c-493a-9942-3d5e21a63ea6","block_type":"box","text":"Smaller Companies","page_number":102,"box":{"x":92,"y":314,"width":145,"height":11}},{"id":"de60e9a2-c739-4f97-8915-5ce0c2fcb407","block_type":"box","text":"","page_number":102,"box":{"x":62,"y":331,"width":6,"height":5}},{"id":"e5c4bc76-cd93-48a4-9b9f-7507d5d84823","block_type":"box","text":"Equity Securities","page_number":102,"box":{"x":93,"y":328,"width":123,"height":11}},{"id":"5bc803a9-57cf-4193-b0ee-6ddf9b05ae67","block_type":"box","text":"Past Performance – AI Europe Equity ex UK Fund","page_number":102,"box":{"x":72,"y":374,"width":393,"height":11}},{"id":"d805be9d-cc06-4401-8a98-685c7d9fc2a6","block_type":"box","text":"% Growth","page_number":102,"box":{"x":71,"y":394,"width":77,"height":8}},{"id":"68b0059c-7ef2-4453-8d3c-67d4ea3eaf9c","block_type":"box","text":"1/1/2024 to","page_number":102,"box":{"x":290,"y":442,"width":94,"height":8}},{"id":"0b538e48-6be7-4503-8c54-c3bfecba632c","block_type":"box","text":"31/12/2024","page_number":102,"box":{"x":289,"y":454,"width":75,"height":8}},{"id":"b873ae71-b27d-4c5b-833b-953ed78d688f","block_type":"box","text":"1/1/2023 to","page_number":102,"box":{"x":404,"y":442,"width":94,"height":8}},{"id":"c1b91c0c-bcad-4427-b6ff-6e5c28eb672a","block_type":"box","text":"31/12/2023","page_number":102,"box":{"x":403,"y":454,"width":75,"height":8}},{"id":"726a249d-6370-4d71-b5a3-64e0aad7a0e5","block_type":"box","text":"1/1/2022 to","page_number":102,"box":{"x":517,"y":442,"width":94,"height":8}},{"id":"8c89f008-bb83-44ce-8978-858b08a8c806","block_type":"box","text":"31/12/2022","page_number":102,"box":{"x":516,"y":454,"width":75,"height":8}},{"id":"0a025610-b47c-425d-93fd-17990854236c","block_type":"box","text":"1/1/2021 to","page_number":102,"box":{"x":631,"y":442,"width":94,"height":8}},{"id":"26e82519-e342-45a5-9a70-e2b20b434dc0","block_type":"box","text":"31/12/2021","page_number":102,"box":{"x":630,"y":454,"width":73,"height":8}},{"id":"e5c665dc-b4fa-4bf7-b708-addfa1a39506","block_type":"box","text":"1/1/2020 to","page_number":102,"box":{"x":744,"y":442,"width":94,"height":8}},{"id":"7ec2218f-c406-4152-9709-d5d601f464b4","block_type":"box","text":"31/12/2020","page_number":102,"box":{"x":743,"y":454,"width":75,"height":8}},{"id":"a84e9e04-e39c-4d88-a411-1458421eafab","block_type":"box","text":"UK Corporate Income","page_number":102,"box":{"x":72,"y":479,"width":198,"height":10}},{"id":"a868dfd9-708d-493a-b4a5-a15ecfe5e5e0","block_type":"box","text":"Distribution Units (%)","page_number":102,"box":{"x":72,"y":491,"width":140,"height":10}},{"id":"4b38b4b1-fc01-4d3c-a841-3b4fd5438390","block_type":"box","text":"-1.55","page_number":102,"box":{"x":290,"y":479,"width":33,"height":8}},{"id":"8ea29377-150c-486f-a6f0-d29bbe2a5fd1","block_type":"box","text":"10.33","page_number":102,"box":{"x":404,"y":479,"width":36,"height":8}},{"id":"dda271b8-483f-409b-866e-823f54d2f4a5","block_type":"box","text":"-10.25","page_number":102,"box":{"x":517,"y":479,"width":41,"height":8}},{"id":"5eb330c2-6ddb-44a2-bff0-9b1cb6e0eb7a","block_type":"box","text":"16.3","page_number":102,"box":{"x":631,"y":479,"width":28,"height":8}},{"id":"95bdd471-7b8d-47f3-8e50-dcf3dc7ef80d","block_type":"box","text":"8.7","page_number":102,"box":{"x":743,"y":479,"width":20,"height":8}},{"id":"c14bf39f-54eb-4b06-bf0b-b8876c780310","block_type":"box","text":"Insured Pension Income","page_number":102,"box":{"x":72,"y":522,"width":198,"height":8}},{"id":"3ad5d9d5-2d3a-48ef-b497-86baecc7c34d","block_type":"box","text":"Distribution Units (%)","page_number":102,"box":{"x":72,"y":534,"width":140,"height":10}},{"id":"9f40d3cb-e739-4b13-bf81-392d587c8a0c","block_type":"box","text":"-1.75","page_number":102,"box":{"x":290,"y":522,"width":33,"height":8}},{"id":"a88cefe2-962f-4713-a523-98f73266a0e9","block_type":"box","text":"10.31","page_number":102,"box":{"x":404,"y":522,"width":34,"height":8}},{"id":"7a5d1064-69ff-452b-b0c5-6d00a213582f","block_type":"box","text":"-10.17","page_number":102,"box":{"x":517,"y":522,"width":42,"height":8}},{"id":"34532e0e-c1a6-43a3-a645-52c893e0b635","block_type":"box","text":"16.2","page_number":102,"box":{"x":631,"y":522,"width":27,"height":8}},{"id":"e180826a-2d98-4fa2-ab6e-cbc9edb04f6b","block_type":"box","text":"8.8","page_number":102,"box":{"x":743,"y":522,"width":20,"height":8}},{"id":"a51de2af-f3cd-4dd4-9731-ab4b7b0613eb","block_type":"box","text":"UK Institutional Accumulation","page_number":102,"box":{"x":72,"y":565,"width":198,"height":8}},{"id":"a3075ea4-6b22-498b-98aa-43e060bd794f","block_type":"box","text":"Units (%)","page_number":102,"box":{"x":72,"y":577,"width":60,"height":10}},{"id":"e7341e6e-53ee-4542-8fdf-911bc970132c","block_type":"box","text":"-2.12","page_number":102,"box":{"x":290,"y":565,"width":33,"height":8}},{"id":"fdd796af-476e-4bb2-95f1-e939c76905bd","block_type":"box","text":"10.01","page_number":102,"box":{"x":404,"y":565,"width":34,"height":8}},{"id":"26740dfd-0213-4165-a8f0-eec8499baab4","block_type":"box","text":"-10.43","page_number":102,"box":{"x":517,"y":565,"width":42,"height":8}},{"id":"a6397267-2143-4c9b-ae27-13e9ad4591ae","block_type":"box","text":"16.4","page_number":102,"box":{"x":631,"y":565,"width":28,"height":8}},{"id":"e3c06818-bffe-41d5-827f-d4de7d1e88ee","block_type":"box","text":"8.6","page_number":102,"box":{"x":743,"y":565,"width":20,"height":8}},{"id":"3e30ed11-3017-4a67-befa-c8d9b96320d6","block_type":"box","text":"ACS (Fund of Fund)","page_number":102,"box":{"x":71,"y":608,"width":199,"height":10}},{"id":"179e8204-7a58-4ac6-bd4f-c5f5b75a822f","block_type":"box","text":"Accumulation Units Class 1","page_number":102,"box":{"x":71,"y":620,"width":197,"height":8}},{"id":"13e7efad-082f-4040-a44c-db98cc5ad325","block_type":"box","text":"(%)","page_number":102,"box":{"x":72,"y":632,"width":21,"height":10}},{"id":"80a313fe-bd87-45d0-9c3f-531f6acc42ff","block_type":"box","text":"N/A","page_number":102,"box":{"x":290,"y":608,"width":24,"height":8}},{"id":"90277d32-285e-4c84-97b2-14fde0567e87","block_type":"box","text":"10.33","page_number":102,"box":{"x":404,"y":608,"width":36,"height":8}},{"id":"f21598b2-f7cb-46e1-8a1b-696ee432a0b1","block_type":"box","text":"-10.25","page_number":102,"box":{"x":517,"y":608,"width":41,"height":8}},{"id":"d978e022-e0ed-4097-a31b-aae6b7a479ab","block_type":"box","text":"16.4","page_number":102,"box":{"x":631,"y":608,"width":28,"height":8}},{"id":"f9cf5b37-fcf6-41ea-9353-9bf995e9fff4","block_type":"box","text":"8.7","page_number":102,"box":{"x":743,"y":608,"width":20,"height":8}},{"id":"12c0b764-2660-47b7-a1b7-fc0a19909871","block_type":"box","text":"ACS (Fund of Fund)","page_number":102,"box":{"x":71,"y":657,"width":199,"height":10}},{"id":"2d04e978-8046-4d69-b778-c7fb539785f6","block_type":"box","text":"Accumulation Units Class 2","page_number":102,"box":{"x":71,"y":669,"width":199,"height":8}},{"id":"2f8cda52-1222-4228-a37d-4af74397e577","block_type":"box","text":"(%)","page_number":102,"box":{"x":72,"y":682,"width":21,"height":10}},{"id":"82a07015-a6ed-4dee-af6a-cadec10e9fd9","block_type":"box","text":"N/A","page_number":102,"box":{"x":290,"y":657,"width":24,"height":8}},{"id":"c0655b7d-fc08-4f52-ba0b-a73fccbc2f4c","block_type":"box","text":"10.33","page_number":102,"box":{"x":404,"y":657,"width":36,"height":8}},{"id":"dd60ccd1-ccd8-4e42-aca1-53067e010783","block_type":"box","text":"-10.25","page_number":102,"box":{"x":517,"y":657,"width":41,"height":8}},{"id":"c6399eb6-fec7-4c45-90d4-31cd875356cb","block_type":"box","text":"16.4","page_number":102,"box":{"x":631,"y":657,"width":28,"height":8}},{"id":"c0824c2f-879b-49dc-8086-02d5d2bb02e1","block_type":"box","text":"8.8","page_number":102,"box":{"x":743,"y":657,"width":20,"height":8}},{"id":"505f473a-d8d8-4386-b62f-adfff3f201cf","block_type":"box","text":"UK Corporate Accumulation","page_number":102,"box":{"x":72,"y":706,"width":198,"height":10}},{"id":"fe57eeee-8b46-4c56-8ea6-6b0426fd1eb7","block_type":"box","text":"Units (%)","page_number":102,"box":{"x":72,"y":719,"width":60,"height":10}},{"id":"2957c15f-0971-4c2a-b544-aebf817dc9d7","block_type":"box","text":"Insured Pension","page_number":102,"box":{"x":72,"y":744,"width":198,"height":7}},{"id":"2f964c6f-0f87-4308-afc7-2b69a1f16179","block_type":"box","text":"Accumulation Units (%)","page_number":102,"box":{"x":71,"y":756,"width":156,"height":10}},{"id":"f6995414-91a6-4565-8c84-dd09be71242d","block_type":"box","text":"UK Fund of Fund","page_number":102,"box":{"x":72,"y":781,"width":198,"height":8}},{"id":"09fd8321-36f5-4aa0-8ba9-6141097cb848","block_type":"box","text":"Accumulation Units (%)","page_number":102,"box":{"x":71,"y":793,"width":156,"height":10}},{"id":"6c602c9f-5f52-4cde-b071-5442a3fa3f9b","block_type":"box","text":"Index - FTSE® Developed","page_number":102,"box":{"x":72,"y":821,"width":200,"height":10}},{"id":"0f0ebbaf-b42b-40de-8724-12b613302f0d","block_type":"box","text":"Europe (ex UK) Total Return","page_number":102,"box":{"x":72,"y":833,"width":199,"height":10}},{"id":"18bab75b-1978-44c1-9464-8ac6493da06c","block_type":"box","text":"Index","page_number":102,"box":{"x":72,"y":845,"width":37,"height":8}},{"id":"b2ccbb5d-58f4-4c95-b4ec-745336c25203","block_type":"box","text":"2.46","page_number":102,"box":{"x":289,"y":821,"width":30,"height":8}},{"id":"3393f111-4974-47e3-99e0-1b6b3b604b99","block_type":"box","text":"15.42","page_number":102,"box":{"x":406,"y":821,"width":35,"height":8}},{"id":"304e7d0e-ee41-4ba7-a3a7-38f7cd4ca66e","block_type":"box","text":"-7.81","page_number":102,"box":{"x":517,"y":821,"width":33,"height":8}},{"id":"bf6891e8-3976-49e7-ad4b-3e5dbfdfc0a7","block_type":"box","text":"17.6","page_number":102,"box":{"x":633,"y":821,"width":27,"height":8}},{"id":"55a9bbbb-87f5-40a2-8180-2569312f8ccc","block_type":"box","text":"8.9","page_number":102,"box":{"x":744,"y":821,"width":21,"height":8}},{"id":"4e83b64e-701f-4ae4-b413-6c7a4ed33e9b","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":103,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"1c2d85de-bd96-433e-9c71-46f452ac522e","block_type":"box","text":"103","page_number":103,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"11163817-dfd3-4065-8d02-7e9420001da2","block_type":"box","text":"Aviva Investors: Confidential","page_number":103,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"ff3473b6-1f38-43b7-b6e2-3baaac246897","block_type":"box","text":"AI US Large Cap Equity Fund","page_number":103,"box":{"x":62,"y":53,"width":232,"height":11}},{"id":"f9bb390f-349c-4cfe-80e2-39a1f32b79e1","block_type":"box","text":"FCA product reference number: 658305","page_number":103,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"ba5cf89d-8588-4077-90dc-585e687e3d22","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":103,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"e8582368-da48-40e8-9eab-160db8d7e237","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":103,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"6762cd5e-8efe-43ea-bc10-f6df8cad491c","block_type":"box","text":"Investment Objective and Policy","page_number":103,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"3d20b00d-229d-49dc-98db-9468bb4ac287","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of companies","page_number":103,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"94aa3df5-7d43-4b07-a42a-2521aba34950","block_type":"box","text":"in North America.","page_number":103,"box":{"x":62,"y":198,"width":128,"height":8}},{"id":"130779d1-2513-4af7-b99d-1ebbaa5a9537","block_type":"box","text":"Core investment:","page_number":103,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"400fe78e-27be-4682-a1e3-9be277230b28","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of companies listed on stock exchanges in the United States","page_number":103,"box":{"x":62,"y":236,"width":861,"height":12}},{"id":"d559ea7a-fe44-4d1f-ab63-eefca3299f80","block_type":"box","text":"of America.","page_number":103,"box":{"x":62,"y":250,"width":83,"height":9}},{"id":"be04824d-950f-4843-92fc-fc83a3d30658","block_type":"box","text":"Other investments:","page_number":103,"box":{"x":62,"y":270,"width":151,"height":9}},{"id":"e53cf634-76c2-4535-b2b3-7fdae48197ed","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by the Investment Manager),","page_number":103,"box":{"x":62,"y":289,"width":860,"height":12}},{"id":"47f0f9b0-2a2e-4cab-894b-df11ad69784f","block_type":"box","text":"derivatives, cash and deposits.","page_number":103,"box":{"x":62,"y":303,"width":228,"height":11}},{"id":"74c6704e-27e1-430d-94dc-0652fe2e3cd9","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":103,"box":{"x":63,"y":323,"width":860,"height":11}},{"id":"1a41a92b-a57d-457c-b6dd-4550d0ce563d","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":103,"box":{"x":62,"y":336,"width":861,"height":12}},{"id":"37db46ec-36bb-4904-848f-ad44613fd872","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":103,"box":{"x":62,"y":350,"width":545,"height":11}},{"id":"2885821c-6d8b-4364-91d4-3f361c4d7581","block_type":"box","text":"Strategy:","page_number":103,"box":{"x":62,"y":369,"width":70,"height":12}},{"id":"444a5d83-d3a2-48e1-bb3a-595dff9b7928","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager aims to achieve the Sub-Fund’s objective by","page_number":103,"box":{"x":62,"y":389,"width":861,"height":11}},{"id":"949eace0-89ee-45c0-8422-6774f1094383","block_type":"box","text":"constructing a portfolio of large US companies, with a focus on those companies which will deliver positive earnings","page_number":103,"box":{"x":62,"y":403,"width":861,"height":11}},{"id":"85086828-5b29-4037-ab53-300023581d10","block_type":"box","text":"growth that has not been factored in by the market (the Investment Manager terms this ‘a positive growth gap’). The","page_number":103,"box":{"x":62,"y":416,"width":861,"height":12}},{"id":"0063483b-4388-4f7c-8697-97ce4f380e34","block_type":"box","text":"Investment Manager believes such stocks will outperform as their higher growth characteristics are recognised by the","page_number":103,"box":{"x":63,"y":430,"width":860,"height":11}},{"id":"b3ff18bb-9331-4c71-97de-3f9008ae5ec0","block_type":"box","text":"market.","page_number":103,"box":{"x":62,"y":444,"width":54,"height":9}},{"id":"249614f9-5ce6-4b9e-8e9e-7a77b0ef65f7","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":103,"box":{"x":62,"y":463,"width":527,"height":12}},{"id":"c46f03c0-8ff5-4cec-9050-dc8c073cfd35","block_type":"box","text":"please see Appendix 2 for information on","page_number":103,"box":{"x":594,"y":464,"width":328,"height":11}},{"id":"37c4638b-a6b8-42ca-ab10-b41fc585d296","block_type":"box","text":"these limited investment restrictions.","page_number":103,"box":{"x":62,"y":477,"width":295,"height":9}},{"id":"87d673f7-3cbd-4189-8af4-c62a82e6964e","block_type":"box","text":"Performance & Risk Measurement","page_number":103,"box":{"x":63,"y":497,"width":270,"height":9}},{"id":"f6d39825-d3cb-4548-b896-c44139b2123a","block_type":"box","text":":","page_number":103,"box":{"x":335,"y":499,"width":2,"height":6}},{"id":"b7d53ac2-f830-4685-b9af-c053f4b0f155","block_type":"box","text":"The Sub-Fund’s performance is compared against the S&P® 500 Total Return GBP Index (the “Index”)","page_number":103,"box":{"x":62,"y":516,"width":762,"height":12}},{"id":"2ba1369c-3e0c-49aa-9fab-9a9c7801ce30","block_type":"box","text":"□","page_number":103,"box":{"x":826,"y":518,"width":5,"height":3}},{"id":"22fd4ee5-7e68-48d7-9f66-a18bca5b1483","block_type":"box","text":".","page_number":103,"box":{"x":834,"y":524,"width":1,"height":1}},{"id":"b980c082-3fe8-4f18-b7d5-3ba841e5e1c1","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":103,"box":{"x":62,"y":536,"width":860,"height":11}},{"id":"5e360608-d325-48e4-b8c6-3c3cf738beab","block_type":"box","text":"may also hold companies that do not form part of it.","page_number":103,"box":{"x":62,"y":550,"width":380,"height":11}},{"id":"2221ba3a-a8be-415c-9aa4-9210492f71f6","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":103,"box":{"x":62,"y":569,"width":861,"height":11}},{"id":"fe8ebf65-6a02-496f-ab16-ce327e8f5177","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":103,"box":{"x":63,"y":583,"width":859,"height":11}},{"id":"6496831d-cff8-460b-aed4-3cf1cd9b5126","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2% and 4% when","page_number":103,"box":{"x":62,"y":596,"width":860,"height":12}},{"id":"ce685fad-bb5e-4ffc-9999-5484b8624a28","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":103,"box":{"x":62,"y":610,"width":650,"height":11}},{"id":"10ea034b-af5e-4ab2-8321-5f84cbb980b1","block_type":"box","text":"The Index is a market capitalisation (total market value of a company's outstanding shares) weighted index of the 500","page_number":103,"box":{"x":62,"y":630,"width":861,"height":11}},{"id":"7d868451-045f-4b23-b2e5-9650c09be956","block_type":"box","text":"largest US publicly traded companies.","page_number":103,"box":{"x":62,"y":643,"width":280,"height":12}},{"id":"a0abbc18-6b16-4355-97f2-5b97eb44532d","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":103,"box":{"x":62,"y":663,"width":861,"height":11}},{"id":"4f113521-7c7d-404a-b276-a473f7c79933","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the","page_number":103,"box":{"x":62,"y":676,"width":861,"height":12}},{"id":"66c71857-0428-4446-9770-734a47021fcd","block_type":"box","text":"Sub-Fund’s performance.","page_number":103,"box":{"x":62,"y":690,"width":187,"height":11}},{"id":"db2813a2-b41a-46b2-bf37-02271f0b6146","block_type":"box","text":"Additional Information","page_number":103,"box":{"x":62,"y":710,"width":177,"height":9}},{"id":"ce561844-1421-47a2-85e9-c25b2bcd9821","block_type":"box","text":"Investment Manager","page_number":103,"box":{"x":118,"y":736,"width":151,"height":11}},{"id":"414c6a47-84d7-4cf4-ad7d-753e190b55d3","block_type":"box","text":"Schroder Investment Management Limited","page_number":103,"box":{"x":353,"y":736,"width":315,"height":11}},{"id":"53579032-950d-4db9-a0e2-56a56b5c9e79","block_type":"box","text":"Type of Units","page_number":103,"box":{"x":116,"y":762,"width":98,"height":11}},{"id":"18175635-b48e-40d4-9bea-e19313755edc","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":103,"box":{"x":353,"y":762,"width":292,"height":11}},{"id":"53b8cf54-f0d2-4dd1-a350-e8a2c769bc19","block_type":"box","text":"UK Institutional Accumulation Units","page_number":103,"box":{"x":353,"y":788,"width":260,"height":9}},{"id":"ea3415d5-2223-4620-848d-065f050a9973","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 1)","page_number":103,"box":{"x":352,"y":814,"width":369,"height":11}},{"id":"b0707fa7-db66-4e7a-8622-761a913e20b3","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 2)","page_number":103,"box":{"x":352,"y":840,"width":369,"height":12}},{"id":"c759841d-fa00-4da4-9776-e5a7c7326e16","block_type":"box","text":"Dealing Day","page_number":103,"box":{"x":118,"y":867,"width":89,"height":11}},{"id":"efbad8e0-3b58-4b5c-8433-79a457e2e0ed","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":103,"box":{"x":354,"y":867,"width":393,"height":11}},{"id":"45fdc59d-4065-46c9-9245-c5aaf062b521","block_type":"box","text":"Deal Cut-Off Point","page_number":103,"box":{"x":118,"y":893,"width":134,"height":9}},{"id":"ae32df8b-6339-4ada-a253-ce809cbbf8df","block_type":"box","text":"2.00 p.m.","page_number":103,"box":{"x":353,"y":893,"width":67,"height":11}},{"id":"37243914-6fb0-41b4-ba7c-36bbd8da8502","block_type":"box","text":"Valuation Point","page_number":103,"box":{"x":117,"y":919,"width":112,"height":9}},{"id":"11c9867f-3e4e-4809-be49-431d007e6717","block_type":"box","text":"3.00 p.m.","page_number":103,"box":{"x":353,"y":919,"width":67,"height":11}},{"id":"9f8d9f62-3280-456b-b9e3-38100ad46f71","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":104,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"3c933983-5736-4bd0-992d-5492b53f6f50","block_type":"box","text":"104","page_number":104,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"fd78760b-b151-4233-b0f9-8adc0d230fd9","block_type":"box","text":"Aviva Investors: Confidential","page_number":104,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"b467a587-f65c-4bd6-8f73-0f4779643a20","block_type":"box","text":"*Minimum Investment","page_number":104,"box":{"x":117,"y":59,"width":172,"height":9}},{"id":"2c948e9e-f74e-4cb7-8a51-8eec5f263b8c","block_type":"box","text":"UK Corporate Income","page_number":104,"box":{"x":118,"y":85,"width":160,"height":11}},{"id":"6821cc36-0e10-46bb-8edf-9c02a495ad2e","block_type":"box","text":"Distribution, UK Institutional","page_number":104,"box":{"x":118,"y":99,"width":203,"height":10}},{"id":"66050600-e382-4c5a-b330-52c2c64b525b","block_type":"box","text":"Accumulation Units, ACS","page_number":104,"box":{"x":116,"y":112,"width":187,"height":11}},{"id":"6e21b4e0-754b-4fee-b723-b44cc206ced2","block_type":"box","text":"(Fund of Fund) Accumulation","page_number":104,"box":{"x":117,"y":126,"width":215,"height":11}},{"id":"a60e5ce1-4f80-4c5f-8c37-9476bd501b64","block_type":"box","text":"Units (Class 1), ACS (Fund","page_number":104,"box":{"x":118,"y":140,"width":200,"height":11}},{"id":"ec296b0f-af9e-4355-b5f4-8520572a1ad7","block_type":"box","text":"of Fund) Accumulation Units","page_number":104,"box":{"x":117,"y":153,"width":210,"height":12}},{"id":"cf720d59-ff85-4c1d-9a0c-aba7f07fe49e","block_type":"box","text":"(Class 2)","page_number":104,"box":{"x":117,"y":167,"width":65,"height":11}},{"id":"3c8cff05-4a7f-469c-b757-ce284601aee5","block_type":"box","text":"No minimum","page_number":104,"box":{"x":353,"y":85,"width":92,"height":9}},{"id":"3877497a-93c3-49f0-b69f-780dfcd623b0","block_type":"box","text":"Minimum withdrawal","page_number":104,"box":{"x":117,"y":193,"width":150,"height":9}},{"id":"f81f4e88-c12b-4675-9c36-25fa232d10d0","block_type":"box","text":"No minimum","page_number":104,"box":{"x":353,"y":193,"width":92,"height":9}},{"id":"374791c3-c8dc-407a-965a-062a312dcf7c","block_type":"box","text":"Tax Criteria for investment","page_number":104,"box":{"x":116,"y":219,"width":213,"height":9}},{"id":"1ddb889b-88ac-48c6-b27a-7a89894311bb","block_type":"box","text":"UK Corporate Income","page_number":104,"box":{"x":118,"y":245,"width":160,"height":11}},{"id":"eb8b2061-4096-4975-80ea-7e3acc686dce","block_type":"box","text":"Distribution Units","page_number":104,"box":{"x":118,"y":259,"width":124,"height":9}},{"id":"34193326-ea9b-495e-893a-294013c273fa","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":104,"box":{"x":352,"y":245,"width":404,"height":12}},{"id":"5d13a6be-331a-4de7-9aaf-973e72cff664","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":104,"box":{"x":353,"y":259,"width":404,"height":11}},{"id":"9df8c2c6-ab1b-49c5-82c6-fd1ec5dc9b6a","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":104,"box":{"x":352,"y":273,"width":405,"height":11}},{"id":"dfdf7d84-0f86-4ecd-8a08-fe199cebd736","block_type":"box","text":"linked pension business contracts.","page_number":104,"box":{"x":353,"y":287,"width":253,"height":11}},{"id":"ead7619b-26a8-43bc-8801-a634bb040343","block_type":"box","text":"UK Institutional","page_number":104,"box":{"x":118,"y":313,"width":110,"height":8}},{"id":"898d2ce1-1c09-4a63-ad9a-68be6ebe5206","block_type":"box","text":"Accumulation Units","page_number":104,"box":{"x":116,"y":326,"width":143,"height":9}},{"id":"873d17ca-be7c-4646-8dbf-d57147cd29cb","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":104,"box":{"x":352,"y":313,"width":404,"height":11}},{"id":"d32e1310-f28c-4166-bbab-4a04524b7fec","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":104,"box":{"x":353,"y":326,"width":403,"height":11}},{"id":"1ae7b8e6-beb4-4b9f-a0da-b8ea5dff1112","block_type":"box","text":"tax treaties.","page_number":104,"box":{"x":352,"y":340,"width":85,"height":9}},{"id":"84dbe217-b22d-45c8-9fa0-6c943c4ef68a","block_type":"box","text":"ACS (Fund of Fund)","page_number":104,"box":{"x":116,"y":372,"width":149,"height":11}},{"id":"8959a1a3-acd4-401d-94a7-d06847e3b28b","block_type":"box","text":"Accumulation Units (Class","page_number":104,"box":{"x":116,"y":386,"width":195,"height":11}},{"id":"77d5e783-6d93-426c-b7ed-18704f3a3a1e","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":104,"box":{"x":118,"y":399,"width":171,"height":11}},{"id":"57fbed8a-1a2a-4304-aed3-153fef42eb34","block_type":"box","text":"Accumulation Units (Class 2)","page_number":104,"box":{"x":116,"y":413,"width":215,"height":11}},{"id":"62fedc91-4ecf-4184-afcc-0b411d1eea39","block_type":"box","text":"A sub-fund of a UK authorised contractual scheme","page_number":104,"box":{"x":352,"y":372,"width":375,"height":9}},{"id":"b1580d05-e469-4eaf-842d-9d37f6ec81f9","block_type":"box","text":"**Current Charges:","page_number":104,"box":{"x":117,"y":439,"width":149,"height":11}},{"id":"4abe105f-ba03-489e-8537-82cf6ce7783c","block_type":"box","text":"UK Corporate Income","page_number":104,"box":{"x":118,"y":465,"width":160,"height":11}},{"id":"85664ec0-2e27-4ef4-9b8c-db173a3f07e5","block_type":"box","text":"Distribution Units, UK","page_number":104,"box":{"x":118,"y":479,"width":158,"height":10}},{"id":"1f597a87-3a38-4b36-832c-6825cf3d1d15","block_type":"box","text":"Institutional Accumulation","page_number":104,"box":{"x":118,"y":493,"width":187,"height":8}},{"id":"17e30dc6-ae1d-4a25-8710-f3c4b9de95f0","block_type":"box","text":"Units, ACS (Fund of Fund)","page_number":104,"box":{"x":118,"y":506,"width":195,"height":11}},{"id":"2867d6df-f68a-49c0-84de-a94642705220","block_type":"box","text":"Accumulation Units (Class","page_number":104,"box":{"x":116,"y":520,"width":195,"height":11}},{"id":"f056adef-db14-4f32-a45b-b1d6ac6a8d90","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":104,"box":{"x":118,"y":533,"width":171,"height":12}},{"id":"eece9e3c-5f4e-4cf6-b0c1-72894461eb55","block_type":"box","text":"Accumulation Units (Class 2)","page_number":104,"box":{"x":116,"y":547,"width":215,"height":11}},{"id":"20f125a4-1744-44c4-b22d-3956801e53a5","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":104,"box":{"x":352,"y":465,"width":404,"height":11}},{"id":"84957284-0489-4a3d-9033-16d925802236","block_type":"box","text":"Unitholder***","page_number":104,"box":{"x":353,"y":479,"width":94,"height":9}},{"id":"0c58d067-12c6-47a7-8f3f-ceed1948afb3","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":104,"box":{"x":352,"y":498,"width":404,"height":12}},{"id":"6c95ec1a-33a3-4c9b-9b82-24ef25e03f93","block_type":"box","text":"property","page_number":104,"box":{"x":353,"y":513,"width":60,"height":10}},{"id":"562ead3e-d821-4163-bf30-56554392b2ed","block_type":"box","text":"Accounting Dates","page_number":104,"box":{"x":117,"y":573,"width":141,"height":12}},{"id":"3c9e8cb5-c889-4fc4-99f8-6e70da312e99","block_type":"box","text":"Annual Accounting Date","page_number":104,"box":{"x":116,"y":600,"width":180,"height":11}},{"id":"1acaf6b8-3bd2-447d-a3a4-f787520e36e8","block_type":"box","text":"31 December","page_number":104,"box":{"x":353,"y":600,"width":100,"height":8}},{"id":"4a775e33-d4e4-4c18-b360-9f526583a6eb","block_type":"box","text":"First Accounting Date","page_number":104,"box":{"x":118,"y":626,"width":158,"height":11}},{"id":"024f2476-ca9e-43f9-a77a-ab9b7402ddd4","block_type":"box","text":"31 December 2015","page_number":104,"box":{"x":353,"y":626,"width":141,"height":8}},{"id":"4796eb72-50ea-421d-9cf7-8a1677a46409","block_type":"box","text":"Annual Income Allocation","page_number":104,"box":{"x":116,"y":652,"width":188,"height":8}},{"id":"589e5ad7-fae3-45e1-a618-8bf1c30f4b57","block_type":"box","text":"Date","page_number":104,"box":{"x":118,"y":665,"width":33,"height":9}},{"id":"57632637-5069-452b-a49f-23b1d1f48c0a","block_type":"box","text":"On or before 28 /29 February","page_number":104,"box":{"x":353,"y":652,"width":217,"height":11}},{"id":"be2584ed-9858-4c00-98a3-e6ee826fff10","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":104,"box":{"x":118,"y":692,"width":293,"height":11}},{"id":"0111181a-fee4-463a-b8f3-441ff2de802f","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":104,"box":{"x":62,"y":717,"width":861,"height":12}},{"id":"1e420fc8-900e-4b5a-a844-b73b23d706ed","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":104,"box":{"x":62,"y":731,"width":408,"height":11}},{"id":"7720adf1-9212-4dd1-a357-650a3e7d42bb","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":104,"box":{"x":62,"y":751,"width":642,"height":11}},{"id":"236b493e-7235-425c-ba0e-f4f62986fb7f","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":104,"box":{"x":62,"y":770,"width":860,"height":12}},{"id":"3f96ac37-020c-4dde-b2ef-10d68794459e","block_type":"box","text":"this Prospectus.","page_number":104,"box":{"x":62,"y":784,"width":117,"height":11}},{"id":"c20cf1bc-d46f-4684-8a47-1d69bb2113ad","block_type":"box","text":"*** In certain circumstances where one Sub-Fund of the Scheme invests in Units of another, the ACS Management","page_number":104,"box":{"x":62,"y":803,"width":861,"height":12}},{"id":"7fa69336-b551-4670-8c66-2d401a75e2e9","block_type":"box","text":"charge will not be charged to the investing Sub-Fund. Further information is provided at paragraph 5.8 of Appendix 6","page_number":104,"box":{"x":62,"y":817,"width":861,"height":12}},{"id":"63effaa2-c3d4-4718-87e4-4dc00ea7311b","block_type":"box","text":"below.","page_number":104,"box":{"x":62,"y":831,"width":46,"height":9}},{"id":"c1421b07-8617-44cb-bed4-30b99fc2b72a","block_type":"box","text":"□","page_number":104,"box":{"x":62,"y":852,"width":5,"height":4}},{"id":"74e65a8f-d837-4504-9c38-fdca4afb8b5d","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":104,"box":{"x":74,"y":851,"width":342,"height":8}},{"id":"d543ac39-f54f-43aa-a74a-dfa2dc337f92","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":105,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"6f8e8dd6-b7c0-48f7-af91-4ec45d625f27","block_type":"box","text":"105","page_number":105,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"bdfd1bdc-d9ec-4d11-8131-9fe925c1274f","block_type":"box","text":"Aviva Investors: Confidential","page_number":105,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d947f948-64bf-40e1-aee3-f23dcf9d1aaf","block_type":"box","text":"Securities Financing and other Transactions:","page_number":105,"box":{"x":62,"y":53,"width":358,"height":11}},{"id":"42045e55-fec4-44e9-b1ec-bdca1536aa47","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":105,"box":{"x":62,"y":72,"width":860,"height":11}},{"id":"fbd9a616-481a-48b7-ba43-4b355b1d9d9c","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":105,"box":{"x":62,"y":86,"width":438,"height":11}},{"id":"78c116f2-0329-4cfe-b98c-b60c7daa2aeb","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":105,"box":{"x":62,"y":125,"width":861,"height":11}},{"id":"a8a63f74-0888-4550-85d9-aa2d1d94e620","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":105,"box":{"x":62,"y":139,"width":860,"height":11}},{"id":"528db8ab-01c0-4775-ac2d-6ccc92a380df","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":105,"box":{"x":62,"y":152,"width":861,"height":11}},{"id":"edefd007-ea99-4b99-8c84-bd7c4b5d422d","block_type":"box","text":"15%.","page_number":105,"box":{"x":63,"y":166,"width":35,"height":9}},{"id":"aa7b6f90-1c37-420f-bff0-b41874e16a02","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":105,"box":{"x":62,"y":205,"width":860,"height":11}},{"id":"50b5d529-165a-4910-bc1a-66fa929a60d4","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":105,"box":{"x":62,"y":219,"width":860,"height":11}},{"id":"3338ec45-44c8-4600-a6af-fe58a137ad6f","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":105,"box":{"x":62,"y":232,"width":861,"height":12}},{"id":"00b505f7-f923-4099-90b8-9978e3087540","block_type":"box","text":"is zero.","page_number":105,"box":{"x":62,"y":246,"width":52,"height":9}},{"id":"72b48d2f-0116-4bb6-80b2-4920015fa939","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":105,"box":{"x":62,"y":305,"width":249,"height":9}},{"id":"e9f79154-6a33-4df4-a463-cc52849e4f32","block_type":"box","text":"Leverage","page_number":105,"box":{"x":63,"y":344,"width":72,"height":11}},{"id":"547292ff-7402-4a28-a0fb-2ce7092b0343","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":105,"box":{"x":63,"y":364,"width":860,"height":11}},{"id":"28a9e45f-34d2-4955-ad81-faec8e242dab","block_type":"box","text":"management.","page_number":105,"box":{"x":62,"y":378,"width":101,"height":11}},{"id":"ea50d3ec-4c7f-4850-8204-be36418c3f6e","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":105,"box":{"x":62,"y":410,"width":860,"height":12}},{"id":"06c9d1bf-6bbd-453c-92c4-31a3c9924516","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":105,"box":{"x":62,"y":424,"width":649,"height":11}},{"id":"4dadf943-bdae-4120-b2ef-a98160075069","block_type":"box","text":"All transactions in derivatives are fully covered, and are not used as a means of gearing the Sub-Fund.","page_number":105,"box":{"x":62,"y":451,"width":760,"height":12}},{"id":"24f0c2ee-a168-407c-b27a-f63827aa4109","block_type":"box","text":"Permitted derivatives","page_number":105,"box":{"x":72,"y":482,"width":168,"height":8}},{"id":"208d150c-5139-4d1c-a8bf-207e05dbff5a","block_type":"box","text":"Permitted?","page_number":105,"box":{"x":383,"y":482,"width":85,"height":8}},{"id":"082cb658-0183-4a2e-a3f1-eca5466d809a","block_type":"box","text":"Prohibited?","page_number":105,"box":{"x":489,"y":482,"width":91,"height":8}},{"id":"ca2e2336-266c-487a-9105-4ada162f858a","block_type":"box","text":"Equity index futures","page_number":105,"box":{"x":72,"y":502,"width":146,"height":11}},{"id":"43fc477f-e578-4738-8746-672f53cc82a9","block_type":"box","text":"√","page_number":105,"box":{"x":421,"y":502,"width":8,"height":8}},{"id":"078289b1-d0e9-4074-86d0-523cb3c7c30d","block_type":"box","text":"Government bond futures","page_number":105,"box":{"x":72,"y":520,"width":188,"height":9}},{"id":"41557b34-d3a0-4eec-bbe1-291e3d0dd6d9","block_type":"box","text":"√","page_number":105,"box":{"x":530,"y":521,"width":8,"height":8}},{"id":"bbed8d14-0a75-40f3-9d88-6253254c151b","block_type":"box","text":"Equity index options","page_number":105,"box":{"x":72,"y":539,"width":148,"height":11}},{"id":"87b8d9fd-2d04-442e-8dd1-0e3b52520078","block_type":"box","text":"√","page_number":105,"box":{"x":421,"y":539,"width":8,"height":8}},{"id":"9c1ddece-409e-4e2f-8b88-e559eaab1714","block_type":"box","text":"Forward foreign exchange","page_number":105,"box":{"x":72,"y":557,"width":193,"height":11}},{"id":"f36f6456-72e3-4e42-beb3-3e1e3dbf01fe","block_type":"box","text":"√","page_number":105,"box":{"x":421,"y":558,"width":8,"height":7}},{"id":"49c2d436-d0b2-4024-b42e-57fffaead69f","block_type":"box","text":"Index credit default swaps","page_number":105,"box":{"x":72,"y":576,"width":192,"height":11}},{"id":"e6e6a1aa-f4ce-4c57-87b1-3cedbbfad91c","block_type":"box","text":"√","page_number":105,"box":{"x":530,"y":576,"width":8,"height":8}},{"id":"e5f34921-b100-4164-90b3-83551841864a","block_type":"box","text":"Interest rate swaps","page_number":105,"box":{"x":72,"y":594,"width":140,"height":11}},{"id":"ad03ca47-32cf-43cd-859c-db3d94f4a015","block_type":"box","text":"√","page_number":105,"box":{"x":530,"y":594,"width":8,"height":8}},{"id":"c89576fb-fec7-4844-9f88-5a6a7a5d5871","block_type":"box","text":"OTC equity options","page_number":105,"box":{"x":72,"y":612,"width":142,"height":12}},{"id":"29a48649-06a8-486b-8c2b-3e04047a1cef","block_type":"box","text":"√","page_number":105,"box":{"x":421,"y":613,"width":8,"height":7}},{"id":"2f51aaa6-1d71-4591-91ad-3d91da6b8757","block_type":"box","text":"Inflation swaps","page_number":105,"box":{"x":72,"y":631,"width":109,"height":11}},{"id":"235a5d45-8453-4b65-a05e-f9e8db04f1a4","block_type":"box","text":"√","page_number":105,"box":{"x":530,"y":631,"width":8,"height":8}},{"id":"49ef5da3-39f5-442a-b539-6c75c877d1bc","block_type":"box","text":"Cross currency swaps","page_number":105,"box":{"x":72,"y":649,"width":163,"height":11}},{"id":"ee352fc7-c7ab-46a5-9cbf-3a62025e4f03","block_type":"box","text":"√","page_number":105,"box":{"x":530,"y":650,"width":8,"height":7}},{"id":"0b738893-e1b9-4e02-96e9-b93b80ce9b7c","block_type":"box","text":"Other","page_number":105,"box":{"x":72,"y":668,"width":41,"height":9}},{"id":"0ddb935f-5693-48c0-a8dc-898b2af778dc","block_type":"box","text":"√","page_number":105,"box":{"x":530,"y":668,"width":8,"height":8}},{"id":"2fb70880-e96d-4833-ab30-c3cfbadd3d8d","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":105,"box":{"x":63,"y":696,"width":860,"height":11}},{"id":"1af22174-0de7-4ea6-b133-4bee17b4398c","block_type":"box","text":"2)","page_number":105,"box":{"x":62,"y":709,"width":13,"height":11}},{"id":"545a2771-cff2-4551-89e1-2af23488ba95","block_type":"box","text":"Leverage Limits","page_number":105,"box":{"x":63,"y":737,"width":128,"height":11}},{"id":"c10d284d-86ea-4b6c-ad64-271d299f36e2","block_type":"box","text":"(Exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":105,"box":{"x":200,"y":736,"width":722,"height":12}},{"id":"7e10dc7c-2a93-4505-93d0-f6bcad7fe6b5","block_type":"box","text":"Regime):","page_number":105,"box":{"x":63,"y":750,"width":65,"height":11}},{"id":"d806e2c7-5deb-495f-a92b-678264fcdfbb","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":105,"box":{"x":62,"y":777,"width":471,"height":12}},{"id":"441d8b16-4e9a-4dc2-8403-720017b0c755","block_type":"box","text":"","page_number":105,"box":{"x":62,"y":809,"width":6,"height":4}},{"id":"4ac8635f-4b1b-47cd-ba84-b455e620a0d0","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":105,"box":{"x":92,"y":806,"width":193,"height":11}},{"id":"ab290c18-49e4-43c2-96f9-69740f89af67","block_type":"box","text":"","page_number":105,"box":{"x":62,"y":825,"width":6,"height":5}},{"id":"c0bb5dd5-1987-4cc7-b122-608b1e7a71d2","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":105,"box":{"x":92,"y":822,"width":183,"height":11}},{"id":"b6e8b096-2482-4fd8-8e00-e1efd123fbd5","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":105,"box":{"x":62,"y":850,"width":860,"height":11}},{"id":"d54d9126-ddcb-42ce-8e34-381e402e2aa1","block_type":"box","text":"which case leverage will not exceed the following:","page_number":105,"box":{"x":62,"y":863,"width":368,"height":12}},{"id":"f9262162-8fcf-46d8-859e-720494184423","block_type":"box","text":"","page_number":105,"box":{"x":62,"y":895,"width":6,"height":4}},{"id":"8bb829a8-fae0-473b-9ec5-4cfd82267e51","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":105,"box":{"x":92,"y":891,"width":193,"height":12}},{"id":"508fbf2f-244e-4111-96af-a82334985d28","block_type":"box","text":"","page_number":105,"box":{"x":62,"y":911,"width":6,"height":5}},{"id":"88b262d0-1d40-4633-adff-eeef31a0e6c6","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":105,"box":{"x":92,"y":908,"width":183,"height":11}},{"id":"b8012ede-c716-43fb-9c61-0e01c2a12421","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":106,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"38bd8bab-96a8-4da7-89fa-b822a59d0697","block_type":"box","text":"106","page_number":106,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"1b226577-d6ae-4b6d-b487-946b0b0e85f3","block_type":"box","text":"Aviva Investors: Confidential","page_number":106,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"7c38f9af-0c4c-4674-aac2-13ff950de9e0","block_type":"box","text":"Specific Risks","page_number":106,"box":{"x":62,"y":53,"width":113,"height":11}},{"id":"27e0e369-d2aa-40d1-b91b-78a301d6986c","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":106,"box":{"x":181,"y":53,"width":462,"height":11}},{"id":"71e97033-3176-4364-8936-d8ead9f09647","block_type":"box","text":"","page_number":106,"box":{"x":62,"y":76,"width":6,"height":4}},{"id":"fb33102f-d716-45f6-a991-8f9ba4e9d4a8","block_type":"box","text":"Smaller Companies","page_number":106,"box":{"x":92,"y":73,"width":145,"height":11}},{"id":"2ecd767e-798b-403c-b22e-77f46a15dab1","block_type":"box","text":"","page_number":106,"box":{"x":62,"y":91,"width":6,"height":4}},{"id":"36d21545-0caa-4e19-acb3-a731718a4842","block_type":"box","text":"Single Market","page_number":106,"box":{"x":92,"y":87,"width":102,"height":12}},{"id":"6e69af00-ed0d-4473-afb5-f186c8582a61","block_type":"box","text":"","page_number":106,"box":{"x":62,"y":105,"width":6,"height":4}},{"id":"0a1f3bdf-90e1-41a6-bf37-aee3313d2a8b","block_type":"box","text":"Equity Securities","page_number":106,"box":{"x":93,"y":102,"width":123,"height":11}},{"id":"215b8d3b-e96d-429c-8420-7d3ec9b68193","block_type":"box","text":"Past Performance – AI US Large Cap Equity Fund","page_number":106,"box":{"x":72,"y":148,"width":393,"height":11}},{"id":"705ef68d-2f04-4916-acc7-983ed840cb97","block_type":"box","text":"% Growth","page_number":106,"box":{"x":71,"y":167,"width":77,"height":9}},{"id":"3f84c7ca-e091-4b4a-9912-2f673d8f55fa","block_type":"box","text":"1/1/2024 to","page_number":106,"box":{"x":290,"y":193,"width":94,"height":8}},{"id":"e6990f83-f1a7-451f-8518-5decf9283b4f","block_type":"box","text":"31/12/2024","page_number":106,"box":{"x":289,"y":205,"width":75,"height":8}},{"id":"efe6038e-7ec3-4a55-aa7b-c3ae50dfff3d","block_type":"box","text":"1/1/2023 to","page_number":106,"box":{"x":404,"y":193,"width":94,"height":8}},{"id":"17aa9583-9c88-4ea9-8e3d-2d24bd2b21e5","block_type":"box","text":"31/12/2023","page_number":106,"box":{"x":403,"y":205,"width":75,"height":8}},{"id":"7c8f5076-9e19-42fb-a546-b56ea03c20d7","block_type":"box","text":"1/1/2022 to","page_number":106,"box":{"x":517,"y":193,"width":94,"height":8}},{"id":"663810c3-c4a0-4790-845a-6593be7e65b4","block_type":"box","text":"31/12/2022","page_number":106,"box":{"x":516,"y":205,"width":75,"height":8}},{"id":"bc4f3a3a-1cb1-4d94-b922-e2c08301e87f","block_type":"box","text":"1/1/2021 to","page_number":106,"box":{"x":631,"y":193,"width":94,"height":8}},{"id":"f9a8f188-1587-4f99-8163-b4720d7662b7","block_type":"box","text":"31/12/2021","page_number":106,"box":{"x":630,"y":205,"width":73,"height":8}},{"id":"691d4fdf-77bf-438d-a81e-8fba24d889cb","block_type":"box","text":"1/1/2020 to","page_number":106,"box":{"x":744,"y":193,"width":94,"height":8}},{"id":"72a2f82f-c876-466b-b210-54f8987f361f","block_type":"box","text":"31/12/2020","page_number":106,"box":{"x":743,"y":205,"width":75,"height":8}},{"id":"1f84c972-dd46-4a91-a41c-2fbbd7cf7599","block_type":"box","text":"UK Corporate Income","page_number":106,"box":{"x":72,"y":230,"width":198,"height":10}},{"id":"94d4b066-408d-43f2-804e-920a52fe8b2c","block_type":"box","text":"Distribution Units (%)","page_number":106,"box":{"x":72,"y":242,"width":140,"height":10}},{"id":"617018f4-b167-4621-be84-23f8095ce339","block_type":"box","text":"29.80","page_number":106,"box":{"x":289,"y":230,"width":37,"height":8}},{"id":"4c7fda34-9b11-46b1-9042-2a251f3c21e3","block_type":"box","text":"20.59","page_number":106,"box":{"x":403,"y":230,"width":37,"height":8}},{"id":"68350fc1-8596-4644-9f25-ef1aca351ec8","block_type":"box","text":"-9.74","page_number":106,"box":{"x":517,"y":230,"width":33,"height":8}},{"id":"a1902798-8098-4757-b734-fe3a29dfde55","block_type":"box","text":"30.6","page_number":106,"box":{"x":630,"y":230,"width":29,"height":8}},{"id":"7c2e54d6-f855-4dfd-9abe-4a4dc19936dc","block_type":"box","text":"20.7","page_number":106,"box":{"x":743,"y":230,"width":29,"height":8}},{"id":"9a9c55e2-2d36-4530-a0dc-e146ee5b1f4d","block_type":"box","text":"Insured Pension Income","page_number":106,"box":{"x":72,"y":273,"width":198,"height":8}},{"id":"a60c96d4-d0f0-4c6a-aaca-3f71c04f6d78","block_type":"box","text":"Distribution Units (%)","page_number":106,"box":{"x":72,"y":285,"width":140,"height":10}},{"id":"98d343e2-c7be-4cde-a388-f1958efa8c0c","block_type":"box","text":"UK Institutional Accumulation","page_number":106,"box":{"x":72,"y":310,"width":198,"height":8}},{"id":"2ce1fc45-4c11-4268-bc30-10aaffe33819","block_type":"box","text":"Units (%)","page_number":106,"box":{"x":72,"y":322,"width":60,"height":10}},{"id":"811b9293-e6af-4274-a851-bee038910189","block_type":"box","text":"29.75","page_number":106,"box":{"x":289,"y":310,"width":37,"height":8}},{"id":"1af49881-5b4a-4efe-8ad2-4bafcc030974","block_type":"box","text":"20.64","page_number":106,"box":{"x":403,"y":310,"width":37,"height":8}},{"id":"ae69e0e0-93bf-4f91-864b-8dc95011e759","block_type":"box","text":"-9.76","page_number":106,"box":{"x":517,"y":310,"width":33,"height":8}},{"id":"a49f9bc4-2bf9-470a-9695-5dcb20acda19","block_type":"box","text":"30.8","page_number":106,"box":{"x":630,"y":310,"width":29,"height":8}},{"id":"28e8d349-5827-4763-a06c-d222fb22921f","block_type":"box","text":"20.6","page_number":106,"box":{"x":743,"y":310,"width":29,"height":8}},{"id":"9bd8149a-2622-49f1-aa95-8e57519f4ef7","block_type":"box","text":"ACS (Fund of Fund)","page_number":106,"box":{"x":71,"y":353,"width":199,"height":10}},{"id":"37d97d5e-0a63-4e42-a7be-aff0a33bf2f0","block_type":"box","text":"Accumulation Units Class 1","page_number":106,"box":{"x":71,"y":365,"width":197,"height":8}},{"id":"0f3b1d3a-6a05-4a00-81b2-44541ad20898","block_type":"box","text":"(%)","page_number":106,"box":{"x":72,"y":378,"width":21,"height":10}},{"id":"7aa5a8ab-64af-441a-8460-71c4350b4a2d","block_type":"box","text":"29.98","page_number":106,"box":{"x":289,"y":353,"width":37,"height":8}},{"id":"4bca7a45-79e5-48cf-b511-0b1b2cdfa62e","block_type":"box","text":"20.82","page_number":106,"box":{"x":403,"y":353,"width":37,"height":8}},{"id":"d0bfb119-49e2-45e0-8f33-7e84b0f6674d","block_type":"box","text":"-9.54","page_number":106,"box":{"x":517,"y":353,"width":33,"height":8}},{"id":"d49f5cb7-068f-4b3f-b72d-4fddd8a8ca5d","block_type":"box","text":"30.9","page_number":106,"box":{"x":630,"y":353,"width":28,"height":8}},{"id":"7b9d17c2-72d6-4bc8-b514-b10b8def6525","block_type":"box","text":"20.8","page_number":106,"box":{"x":743,"y":353,"width":29,"height":8}},{"id":"8cf412b4-9d42-4e1a-8728-a1dcf1acf737","block_type":"box","text":"ACS (Fund of Fund)","page_number":106,"box":{"x":71,"y":402,"width":199,"height":10}},{"id":"d570f05f-8b05-4549-be03-4d9dabc1402a","block_type":"box","text":"Accumulation Units Class 2","page_number":106,"box":{"x":71,"y":415,"width":199,"height":8}},{"id":"0eb0c2b7-6e11-4fc5-b843-5de016c1607c","block_type":"box","text":"(%)","page_number":106,"box":{"x":72,"y":427,"width":21,"height":10}},{"id":"3ac1dc8c-d1fe-4c03-9d4d-a935a4c9ea2c","block_type":"box","text":"29.98","page_number":106,"box":{"x":289,"y":403,"width":37,"height":7}},{"id":"021a73b7-39e2-4009-b4a4-3009b84010b2","block_type":"box","text":"20.82","page_number":106,"box":{"x":403,"y":403,"width":37,"height":7}},{"id":"cac630a5-1439-4cae-bbf8-b808b4d3eba8","block_type":"box","text":"-9.54","page_number":106,"box":{"x":517,"y":403,"width":33,"height":7}},{"id":"23c8b7b9-0320-4eb5-a8ab-592e7e65528d","block_type":"box","text":"30.9","page_number":106,"box":{"x":630,"y":403,"width":28,"height":7}},{"id":"c8920013-bffb-4c03-8f56-886a2194a56a","block_type":"box","text":"20.8","page_number":106,"box":{"x":743,"y":403,"width":29,"height":7}},{"id":"79614013-f67d-4bf9-be1f-c70361ca8bcb","block_type":"box","text":"UK Corporate Accumulation","page_number":106,"box":{"x":72,"y":452,"width":198,"height":10}},{"id":"e4942be7-51ba-47a5-b3f8-7bf8c445f04a","block_type":"box","text":"Units (%)","page_number":106,"box":{"x":72,"y":464,"width":60,"height":10}},{"id":"ba5759c3-faed-4426-8398-22dda9076770","block_type":"box","text":"Insured Pension","page_number":106,"box":{"x":72,"y":489,"width":198,"height":8}},{"id":"71c58d88-bdc3-4f78-8eb3-ddae265b1580","block_type":"box","text":"Accumulation Units (%)","page_number":106,"box":{"x":71,"y":501,"width":156,"height":10}},{"id":"ad90966f-7a85-4915-b645-041f6f4fd8df","block_type":"box","text":"UK Fund of Fund","page_number":106,"box":{"x":72,"y":526,"width":198,"height":8}},{"id":"295fc466-1fb8-4b87-9b3c-a8ce56ab7179","block_type":"box","text":"Accumulation Units (%)","page_number":106,"box":{"x":71,"y":538,"width":156,"height":10}},{"id":"0b750b87-2200-4c6c-84f6-bf04e4830790","block_type":"box","text":"Index - S&P® 500 Total","page_number":106,"box":{"x":72,"y":566,"width":200,"height":8}},{"id":"a08be97c-233c-4b09-b8f9-0b110aa42180","block_type":"box","text":"Return GBP Index*","page_number":106,"box":{"x":72,"y":578,"width":129,"height":8}},{"id":"b4edbf61-0341-46e0-ada9-e70827b9b65d","block_type":"box","text":"27.26","page_number":106,"box":{"x":289,"y":566,"width":39,"height":8}},{"id":"add6b31d-ee4c-415c-b896-4a11738c2c8d","block_type":"box","text":"19.16","page_number":106,"box":{"x":406,"y":566,"width":35,"height":8}},{"id":"a0117b52-3c3e-4ba7-8542-7cd7e979ebc8","block_type":"box","text":"-7.79","page_number":106,"box":{"x":517,"y":566,"width":34,"height":8}},{"id":"1c244c71-26c4-4ffc-b161-bd005fd2c5d5","block_type":"box","text":"29.9","page_number":106,"box":{"x":630,"y":566,"width":30,"height":8}},{"id":"f10efdb5-c5b0-43a9-afdb-89756391425d","block_type":"box","text":"14.7","page_number":106,"box":{"x":746,"y":566,"width":28,"height":8}},{"id":"42b4ff3c-1104-4d23-85c4-6746ec966877","block_type":"box","text":"*Source: S&P Dow Jones Indices LLC. Data as of December 31, 2024. Index performance based on total return in","page_number":106,"box":{"x":64,"y":609,"width":860,"height":11}},{"id":"9f35e3fb-334b-41c4-9e5b-206484951974","block_type":"box","text":"GBP. Past performance is no guarantee of future results. Table is provided for illustrative purposes.","page_number":106,"box":{"x":63,"y":623,"width":735,"height":11}},{"id":"ceb9da10-14a5-42dd-941b-7e0f51c9a959","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":107,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"b3bbf0b8-1baa-4ab0-a01d-0cb4c0fbf54f","block_type":"box","text":"107","page_number":107,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"22ab231b-ac82-4233-9cbc-c8505b04ca88","block_type":"box","text":"Aviva Investors: Confidential","page_number":107,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"6bbc947d-144d-4766-9997-f99325e12358","block_type":"box","text":"AI North American Equity Fund","page_number":107,"box":{"x":62,"y":53,"width":248,"height":11}},{"id":"562db2d8-7fcd-4c84-a318-01c95e82932e","block_type":"box","text":"FCA product reference number: 658307","page_number":107,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"281977b2-30c0-43c2-8707-79ca8c681973","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":107,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"5ef69f41-2f1c-471a-a7c6-8bcda8d6f8ba","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":107,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"252dec07-dcad-4487-9301-fd54f09cabb9","block_type":"box","text":"Investment Objective and Policy","page_number":107,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"9b522a0d-1009-4113-86e5-f008ca8b9fe0","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of North","page_number":107,"box":{"x":62,"y":184,"width":860,"height":11}},{"id":"dcfcfd26-93b1-49f2-ae98-e2c6d45218a4","block_type":"box","text":"American companies.","page_number":107,"box":{"x":62,"y":198,"width":159,"height":10}},{"id":"a217e3ad-1f69-4a2f-9d28-3b0503cb356c","block_type":"box","text":"Core investment:","page_number":107,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"758e937e-61cb-448f-b5b6-9d4babd2c5c3","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of North American companies.","page_number":107,"box":{"x":62,"y":236,"width":639,"height":12}},{"id":"48690be7-0499-4041-8a6d-45d80f35ef13","block_type":"box","text":"Other investments:","page_number":107,"box":{"x":62,"y":256,"width":151,"height":9}},{"id":"cc430a02-a6e6-4cf4-b960-d92e926daa05","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by the Investment Manager),","page_number":107,"box":{"x":62,"y":276,"width":860,"height":11}},{"id":"ca831190-ce7c-457a-b45a-5ba1b828e1d1","block_type":"box","text":"derivatives, cash and deposits.","page_number":107,"box":{"x":62,"y":290,"width":228,"height":11}},{"id":"9430b90e-0052-4224-a553-8fd5474c9ee9","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":107,"box":{"x":63,"y":309,"width":860,"height":11}},{"id":"5ce4f85f-2ea3-441c-a965-087db56a82ed","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":107,"box":{"x":62,"y":323,"width":861,"height":11}},{"id":"3f3a6eb7-2ba8-4208-abb1-c01fa95983b6","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":107,"box":{"x":62,"y":336,"width":545,"height":12}},{"id":"1841a323-77f5-42c5-9326-879e6ca19696","block_type":"box","text":"Strategy:","page_number":107,"box":{"x":62,"y":356,"width":70,"height":11}},{"id":"4dbf6bcf-e9ff-4a79-8f27-92f71f580e8f","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager aims to achieve the Sub-Fund’s objective by","page_number":107,"box":{"x":62,"y":375,"width":861,"height":12}},{"id":"4736ba41-9cff-42f4-bca1-05feb8748e51","block_type":"box","text":"constructing a portfolio of primarily large cap North American stocks, with a focus on those companies which will","page_number":107,"box":{"x":62,"y":389,"width":860,"height":11}},{"id":"a8e69cda-a86d-4cc4-b3ca-b04d5dc62b24","block_type":"box","text":"deliver positive earnings growth that has not been factored in by the market (the Investment Manager terms this ‘a","page_number":107,"box":{"x":62,"y":403,"width":861,"height":11}},{"id":"76e1f0a2-fd77-412c-8c13-09604948bf4c","block_type":"box","text":"positive growth gap’). The Investment Manager believes such stocks will outperform as their higher growth","page_number":107,"box":{"x":62,"y":416,"width":861,"height":12}},{"id":"21a23e11-6ffa-4a28-a166-826a5a974f47","block_type":"box","text":"characteristics are recognised by the market.","page_number":107,"box":{"x":62,"y":430,"width":332,"height":11}},{"id":"c39c3e95-ace3-402c-9130-e08e257f5e2e","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":107,"box":{"x":62,"y":450,"width":527,"height":11}},{"id":"0f1565dc-9603-4e24-bac3-9faffaf4e6d4","block_type":"box","text":"please see Appendix 2 for information on","page_number":107,"box":{"x":594,"y":450,"width":328,"height":11}},{"id":"01b5a798-7f8e-4fe6-a9e9-e795fccbb462","block_type":"box","text":"these limited investment restrictions.","page_number":107,"box":{"x":62,"y":464,"width":295,"height":8}},{"id":"68d98d1e-a650-45e1-8106-9871926ab35e","block_type":"box","text":"Performance & Risk Measurement:","page_number":107,"box":{"x":63,"y":483,"width":275,"height":9}},{"id":"8fdef8a6-6531-46e7-bcda-4e173d15e502","block_type":"box","text":"The Sub-Fund’s performance is compared against the FTSE® North America Total Return GBP Index (the “Index”)","page_number":107,"box":{"x":62,"y":503,"width":849,"height":11}},{"id":"0437cb20-8925-43d2-829b-85c2d0e256ec","block_type":"box","text":"□","page_number":107,"box":{"x":913,"y":504,"width":5,"height":4}},{"id":"1e651194-215d-414f-a39d-944d8d5e781c","block_type":"box","text":".","page_number":107,"box":{"x":920,"y":510,"width":2,"height":1}},{"id":"59f69e94-eb76-4773-9ed6-7f4854d4f97f","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":107,"box":{"x":62,"y":522,"width":860,"height":11}},{"id":"856021eb-206b-44e2-8405-e18d997f8ccf","block_type":"box","text":"may also hold companies that do not form part of it. The Sub-Fund will not invest in shares of companies within the","page_number":107,"box":{"x":62,"y":536,"width":861,"height":11}},{"id":"cdef527d-2950-4598-8c45-2426640008f3","block_type":"box","text":"Aviva Group.","page_number":107,"box":{"x":62,"y":549,"width":95,"height":12}},{"id":"a1f5ee5a-c133-4f6c-b51f-d24821728992","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":107,"box":{"x":62,"y":569,"width":861,"height":11}},{"id":"86f41e6b-54f5-4403-afe9-28d67b379d0c","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":107,"box":{"x":63,"y":583,"width":859,"height":11}},{"id":"6971fa5e-b25c-47d2-ab29-64541ea28795","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 3% and 6% when","page_number":107,"box":{"x":62,"y":596,"width":860,"height":12}},{"id":"1a3fdc80-259e-4df3-b38e-13ae9d1d4dac","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":107,"box":{"x":62,"y":610,"width":650,"height":11}},{"id":"51c564a1-3406-46c4-b832-edd056b02e22","block_type":"box","text":"The Index comprises large and medium sized North American companies, as determined by their market","page_number":107,"box":{"x":62,"y":630,"width":861,"height":11}},{"id":"70080b0e-1cf8-4bf1-b7b8-ba05838949cf","block_type":"box","text":"capitalisation (total market value of a company's outstanding shares).","page_number":107,"box":{"x":62,"y":643,"width":512,"height":12}},{"id":"7921cb7a-bd78-49e1-89b1-103beef9d58a","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":107,"box":{"x":62,"y":663,"width":861,"height":11}},{"id":"ce6256d8-3b67-4deb-aa3c-a7f055efe903","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the","page_number":107,"box":{"x":62,"y":676,"width":861,"height":12}},{"id":"d41cc10d-441b-499c-89cd-25460d7d796a","block_type":"box","text":"Sub-Fund’s performance.","page_number":107,"box":{"x":62,"y":690,"width":187,"height":11}},{"id":"1e613761-913c-4ffc-81f9-023ce1bd8d9f","block_type":"box","text":"Additional Information","page_number":107,"box":{"x":62,"y":710,"width":177,"height":9}},{"id":"dcec20e1-8cf3-4b57-9be3-3c3433e0ca22","block_type":"box","text":"Investment Manager","page_number":107,"box":{"x":118,"y":736,"width":151,"height":11}},{"id":"814d67ae-99e1-4b79-aaa7-88cc60ca6958","block_type":"box","text":"Schroder Investment Management Limited","page_number":107,"box":{"x":353,"y":736,"width":315,"height":11}},{"id":"2a385128-06f6-47ae-ac59-98a5936744a8","block_type":"box","text":"Type of Units","page_number":107,"box":{"x":116,"y":762,"width":98,"height":11}},{"id":"7417b336-2c8e-4b53-ae56-05673715b7ae","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":107,"box":{"x":353,"y":762,"width":292,"height":11}},{"id":"c868cdab-2944-4a35-8a5f-d12a1af5dc80","block_type":"box","text":"UK Corporate Accumulation Units","page_number":107,"box":{"x":353,"y":788,"width":250,"height":11}},{"id":"1b3e3476-4c67-48e2-a379-ff854a6f8c60","block_type":"box","text":"Insured Pension Accumulation Units","page_number":107,"box":{"x":354,"y":814,"width":267,"height":9}},{"id":"6113d4fe-2205-4f93-9196-8f5c28835232","block_type":"box","text":"Insured Pension Income Distribution Units","page_number":107,"box":{"x":354,"y":841,"width":310,"height":8}},{"id":"284e3fd7-15f4-47ec-b13a-be5b428396be","block_type":"box","text":"UK Institutional Accumulation Units","page_number":107,"box":{"x":353,"y":867,"width":260,"height":8}},{"id":"5bcb05e5-05b6-4b5e-a8d7-0d8c1b837ea8","block_type":"box","text":"Dealing Day","page_number":107,"box":{"x":118,"y":893,"width":89,"height":11}},{"id":"ecf5df6a-8065-4178-a2b1-20d5086adfd2","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":107,"box":{"x":354,"y":893,"width":393,"height":11}},{"id":"94504b24-bb17-4851-bbb0-b3656833936d","block_type":"box","text":"Deal Cut-Off Point","page_number":107,"box":{"x":118,"y":919,"width":134,"height":9}},{"id":"fd641cd0-d7f6-4487-a60c-d1e58303ef28","block_type":"box","text":"2.00 p.m.","page_number":107,"box":{"x":353,"y":919,"width":67,"height":11}},{"id":"a00922ed-3163-4049-bf24-3f67637a0157","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":108,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"be9080c5-e445-4b8d-9600-9b328c4bb117","block_type":"box","text":"108","page_number":108,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"3ce9f5fe-95a3-4c56-8160-0c3ea170287a","block_type":"box","text":"Aviva Investors: Confidential","page_number":108,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"ad765fa7-0529-4d4f-b9c8-31c3298952db","block_type":"box","text":"Valuation Point","page_number":108,"box":{"x":117,"y":59,"width":112,"height":9}},{"id":"94f20799-0203-4890-a03d-60cdd27740ab","block_type":"box","text":"3.00 p.m.","page_number":108,"box":{"x":353,"y":59,"width":67,"height":11}},{"id":"62f42907-feeb-4b1a-85fd-d2190ff74560","block_type":"box","text":"*Minimum Investment","page_number":108,"box":{"x":117,"y":85,"width":172,"height":9}},{"id":"6e560e76-9607-4c5b-8a42-b5a711e67ff4","block_type":"box","text":"UK Corporate Income","page_number":108,"box":{"x":118,"y":111,"width":160,"height":11}},{"id":"550a25c8-087f-4864-b981-5c2f9eb54526","block_type":"box","text":"Distribution Units, UK","page_number":108,"box":{"x":118,"y":125,"width":158,"height":10}},{"id":"dbc270ea-eb62-4af3-9162-a9ca75656db1","block_type":"box","text":"Corporate Accumulation","page_number":108,"box":{"x":117,"y":139,"width":178,"height":11}},{"id":"21b0efdd-aee3-49d3-a156-a182ba5f0cd0","block_type":"box","text":"Units, Insured Pension","page_number":108,"box":{"x":118,"y":152,"width":166,"height":11}},{"id":"65350268-97a9-4ded-b306-36fea7939b60","block_type":"box","text":"Accumulation, Insured","page_number":108,"box":{"x":116,"y":166,"width":165,"height":10}},{"id":"6f1e24c8-5d0b-417c-b39c-2519610a2970","block_type":"box","text":"Pension Income Distribution","page_number":108,"box":{"x":118,"y":180,"width":206,"height":8}},{"id":"453b6ee3-87a5-495c-a786-787c8c924167","block_type":"box","text":"Units","page_number":108,"box":{"x":118,"y":193,"width":36,"height":9}},{"id":"b2629fc2-1529-4295-ad2a-d655a1ac67c5","block_type":"box","text":",","page_number":108,"box":{"x":156,"y":201,"width":2,"height":3}},{"id":"760dc2aa-c77b-438e-ba22-91d8ea6195e7","block_type":"box","text":"UK Institutional","page_number":108,"box":{"x":165,"y":193,"width":111,"height":9}},{"id":"0b2dcb11-d09a-41d4-9fbf-fbe3140c0a5b","block_type":"box","text":"Accumulation Units","page_number":108,"box":{"x":116,"y":207,"width":143,"height":9}},{"id":"81f31e22-b0af-4520-bee7-a4f56e73322e","block_type":"box","text":"No minimum","page_number":108,"box":{"x":353,"y":111,"width":92,"height":9}},{"id":"51ae76cb-cd94-4c5d-a00d-7aeec412dbc5","block_type":"box","text":"Minimum withdrawal","page_number":108,"box":{"x":117,"y":233,"width":150,"height":9}},{"id":"782c961a-6454-45b4-a3b5-d5a541f5fee6","block_type":"box","text":"No minimum","page_number":108,"box":{"x":353,"y":233,"width":92,"height":9}},{"id":"77c3ff57-89c4-47da-a894-ca2eeac68045","block_type":"box","text":"Tax Criteria for investment","page_number":108,"box":{"x":116,"y":259,"width":213,"height":9}},{"id":"0e8393f7-7bd1-46a2-b593-41583a4291b4","block_type":"box","text":"UK Corporate Income","page_number":108,"box":{"x":118,"y":285,"width":160,"height":11}},{"id":"52811c18-9ca1-49a7-9946-184333a2d5e3","block_type":"box","text":"Distribution Units","page_number":108,"box":{"x":118,"y":299,"width":124,"height":9}},{"id":"c2074f0b-c61f-4bf5-a5ea-095b0f41de49","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":108,"box":{"x":352,"y":285,"width":404,"height":11}},{"id":"6480d0a6-0ca7-4c6b-9cf9-e5c749868a1d","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":108,"box":{"x":353,"y":299,"width":404,"height":11}},{"id":"ce85e316-2df4-4601-9369-b7293a4b7fcf","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":108,"box":{"x":352,"y":313,"width":405,"height":11}},{"id":"58b5f433-2107-4123-b74b-03da622d9531","block_type":"box","text":"linked pension business contracts.","page_number":108,"box":{"x":353,"y":326,"width":253,"height":11}},{"id":"c885aefa-9331-4b2d-96fd-91838fde052c","block_type":"box","text":"UK Corporate Accumulation","page_number":108,"box":{"x":118,"y":352,"width":205,"height":11}},{"id":"827113af-3133-48f7-ac7f-b8cc77611874","block_type":"box","text":"Units","page_number":108,"box":{"x":118,"y":366,"width":36,"height":9}},{"id":"d5fa5cb9-5587-48f4-8d33-88b2946c8c86","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":108,"box":{"x":352,"y":352,"width":404,"height":11}},{"id":"78dbf670-40c7-400a-af37-71219e09d39c","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":108,"box":{"x":353,"y":366,"width":404,"height":11}},{"id":"94cfb064-a191-437c-a43c-25f89b2f37ff","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":108,"box":{"x":352,"y":380,"width":405,"height":11}},{"id":"1bff90fe-c621-4293-9bf2-1326ed6456c3","block_type":"box","text":"linked pension business contracts.","page_number":108,"box":{"x":353,"y":393,"width":253,"height":11}},{"id":"a544ea5a-e088-4932-bbb5-7e09a60e96ac","block_type":"box","text":"Insured Pension","page_number":108,"box":{"x":118,"y":420,"width":118,"height":8}},{"id":"45d93bd7-04bf-461e-872f-0c03f694b1cb","block_type":"box","text":"Accumulation Units","page_number":108,"box":{"x":116,"y":433,"width":143,"height":9}},{"id":"0a6e3ace-a54a-43b4-bfdd-e8342cb8ca94","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":108,"box":{"x":352,"y":419,"width":404,"height":12}},{"id":"a13f407b-439a-484a-bcbd-76cc585ab4a8","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":108,"box":{"x":353,"y":433,"width":404,"height":11}},{"id":"732b3e99-0a8c-4f64-b94f-4395fb827c91","block_type":"box","text":"back exclusively its unit linked pension business","page_number":108,"box":{"x":353,"y":447,"width":404,"height":11}},{"id":"0d27be97-b26f-4b81-a7c5-441dda91ce71","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":108,"box":{"x":353,"y":460,"width":404,"height":12}},{"id":"34973d45-294b-4e4d-85ec-b3c29fa2f3ec","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":108,"box":{"x":353,"y":474,"width":307,"height":11}},{"id":"ea52572a-962e-48a7-87f5-6094efaf5864","block_type":"box","text":"Insured Pension Income","page_number":108,"box":{"x":118,"y":500,"width":179,"height":9}},{"id":"4eeecf94-ec50-47e6-b33a-36f23f8140f8","block_type":"box","text":"Distribution Units","page_number":108,"box":{"x":118,"y":514,"width":124,"height":9}},{"id":"bd5b716e-416d-47ef-87cf-bc8ea336546e","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":108,"box":{"x":352,"y":500,"width":404,"height":11}},{"id":"ea8e6683-f6de-4b57-85e8-4b889f133561","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":108,"box":{"x":353,"y":514,"width":404,"height":11}},{"id":"0f8d00a4-3d5c-413e-9f9b-ac15087abd3e","block_type":"box","text":"back exclusively its unit linked pension business","page_number":108,"box":{"x":353,"y":528,"width":404,"height":11}},{"id":"2c295339-a388-4c17-994e-55399475c90e","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":108,"box":{"x":353,"y":541,"width":404,"height":11}},{"id":"7ed7348a-6147-41b7-9bf0-fc014feabf83","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":108,"box":{"x":353,"y":555,"width":307,"height":11}},{"id":"a8c6f26b-2885-4646-8107-c892e365b5f3","block_type":"box","text":"UK Institutional","page_number":108,"box":{"x":118,"y":581,"width":110,"height":9}},{"id":"a7a8add4-6827-4e95-bef5-d4e77b38fd49","block_type":"box","text":"Accumulation Units","page_number":108,"box":{"x":116,"y":595,"width":143,"height":8}},{"id":"072af0b1-7402-4dfa-bde1-fc2eca882572","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":108,"box":{"x":352,"y":581,"width":404,"height":11}},{"id":"0f7e9b0d-b03e-4325-9f37-09fd68e5b8a6","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":108,"box":{"x":353,"y":595,"width":403,"height":11}},{"id":"baca986a-c5da-41bb-83c1-2006f91e92ac","block_type":"box","text":"tax treaties.","page_number":108,"box":{"x":352,"y":608,"width":85,"height":9}},{"id":"ac07735b-2781-47bc-a30b-4c04bb4ccc24","block_type":"box","text":"**Current Charges:","page_number":108,"box":{"x":117,"y":640,"width":149,"height":12}},{"id":"1a22d06d-f392-4f13-b94a-980bf2a6c6d2","block_type":"box","text":"UK Corporate Income","page_number":108,"box":{"x":118,"y":666,"width":160,"height":11}},{"id":"84c77850-5f97-43f3-8125-9e1a33c19856","block_type":"box","text":"Distribution Units, UK","page_number":108,"box":{"x":118,"y":680,"width":158,"height":10}},{"id":"34b4ec5e-ea3a-4f3f-955d-7ab096362a95","block_type":"box","text":"Corporate Accumulation","page_number":108,"box":{"x":117,"y":694,"width":178,"height":11}},{"id":"212f02f7-3e61-477b-9ec0-2eba49458f7c","block_type":"box","text":"Units, Insured Pension","page_number":108,"box":{"x":118,"y":708,"width":166,"height":10}},{"id":"c18cb28b-bd29-48d7-9f8e-1bb503e01070","block_type":"box","text":"Accumulation Units, Insured","page_number":108,"box":{"x":116,"y":721,"width":208,"height":10}},{"id":"fe2ec7fc-a5e1-4ae6-b114-f73fc0542e75","block_type":"box","text":"Pension Income Distribution","page_number":108,"box":{"x":118,"y":735,"width":206,"height":9}},{"id":"0016766c-b146-4c04-bf27-43d3eaa830f5","block_type":"box","text":"Units, UK Institutional","page_number":108,"box":{"x":118,"y":749,"width":158,"height":10}},{"id":"dbd48664-678d-42a3-89b4-9217c08cc3d3","block_type":"box","text":"Accumulation Units","page_number":108,"box":{"x":116,"y":762,"width":143,"height":9}},{"id":"ed6add4c-0e1b-4a5b-95c2-d15a9c343254","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":108,"box":{"x":352,"y":666,"width":404,"height":12}},{"id":"6282c8eb-15b9-40be-94e6-38f106d4ff8a","block_type":"box","text":"Unitholder","page_number":108,"box":{"x":353,"y":680,"width":75,"height":9}},{"id":"392eaf44-78ca-44b4-9c80-cd5870eaf8f8","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":108,"box":{"x":352,"y":700,"width":404,"height":11}},{"id":"46a76fa7-9eea-49c6-b3f3-613ad248d34a","block_type":"box","text":"property","page_number":108,"box":{"x":353,"y":714,"width":60,"height":11}},{"id":"27a14e6c-badb-41e5-9c23-5d7e21c63254","block_type":"box","text":"Accounting Dates","page_number":108,"box":{"x":117,"y":788,"width":141,"height":11}},{"id":"c17b7b70-1d88-4252-98de-95cb21d08124","block_type":"box","text":"Annual Accounting Date","page_number":108,"box":{"x":116,"y":814,"width":180,"height":12}},{"id":"d3f902ed-807c-4d1a-a8ad-f1271b9bb9aa","block_type":"box","text":"31 December","page_number":108,"box":{"x":353,"y":814,"width":100,"height":9}},{"id":"ef82177f-6767-42a7-9d01-2fc817dadaa1","block_type":"box","text":"First Accounting Date","page_number":108,"box":{"x":118,"y":841,"width":158,"height":11}},{"id":"ee396974-9eb1-4dd6-8a49-338996465f96","block_type":"box","text":"31 December 2015","page_number":108,"box":{"x":353,"y":841,"width":141,"height":8}},{"id":"46d058e8-5606-4df8-a280-628791d1930b","block_type":"box","text":"Annual Income Allocation","page_number":108,"box":{"x":116,"y":867,"width":188,"height":8}},{"id":"a2a5cbbf-124a-4e30-9dea-e9f1ad6e4a3b","block_type":"box","text":"Date","page_number":108,"box":{"x":118,"y":880,"width":33,"height":9}},{"id":"57a40601-1257-4835-83bb-93f9cea1afd3","block_type":"box","text":"On or before 28 /29 February","page_number":108,"box":{"x":353,"y":867,"width":217,"height":11}},{"id":"e2464c20-1d9b-4e4e-8c77-61014e43c364","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":108,"box":{"x":118,"y":906,"width":293,"height":12}},{"id":"adfa125d-2122-444d-a23c-9f0fd97ac803","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":109,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"8fc47837-c29c-43c7-8960-0b0125d30d51","block_type":"box","text":"109","page_number":109,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"bc477220-36f5-4dab-babd-9920f63a2c15","block_type":"box","text":"Aviva Investors: Confidential","page_number":109,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"da46a0e9-e603-4735-a820-c93b7eba2c89","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":109,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"fccbffc7-e7af-4b2c-a63e-30355523647e","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":109,"box":{"x":62,"y":66,"width":408,"height":11}},{"id":"968b23f3-3dc7-4ae9-a259-b2726b93a8c7","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":109,"box":{"x":62,"y":86,"width":642,"height":11}},{"id":"5cb4d0a9-aa8a-490f-a4b4-97964b47781f","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":109,"box":{"x":62,"y":105,"width":860,"height":12}},{"id":"e51cfc8e-34ef-492e-9dde-bffe0ae84593","block_type":"box","text":"this Prospectus.","page_number":109,"box":{"x":62,"y":119,"width":117,"height":11}},{"id":"db67caef-28b4-430e-9960-498434b2703c","block_type":"box","text":"□","page_number":109,"box":{"x":62,"y":134,"width":5,"height":4}},{"id":"67ee0ed1-c353-435d-8a7c-e30ac9214a1c","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":109,"box":{"x":74,"y":133,"width":342,"height":8}},{"id":"02e8ba1b-6e14-4995-a9ed-987728f1e5bc","block_type":"box","text":"Securities Financing and other Transactions:","page_number":109,"box":{"x":62,"y":166,"width":358,"height":11}},{"id":"bba47918-9181-422d-b2c0-f35690b1a6bd","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":109,"box":{"x":62,"y":186,"width":860,"height":11}},{"id":"02d3e8a7-7a67-489d-99d2-8b33d13148d3","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":109,"box":{"x":62,"y":199,"width":438,"height":11}},{"id":"0126eca9-6b06-4ca5-8f8d-0a42a8649dbd","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":109,"box":{"x":62,"y":238,"width":861,"height":12}},{"id":"e907951d-7296-4dfa-963c-56375f543072","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":109,"box":{"x":62,"y":252,"width":860,"height":11}},{"id":"57d38fc2-c0be-4aab-91dd-ef25757e90f5","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":109,"box":{"x":62,"y":266,"width":861,"height":11}},{"id":"93f8b87d-9093-4769-8d39-fa04bf7fab73","block_type":"box","text":"15%.","page_number":109,"box":{"x":63,"y":280,"width":35,"height":8}},{"id":"2924b5c7-b508-40e5-842d-7ef454050243","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":109,"box":{"x":62,"y":319,"width":860,"height":11}},{"id":"d83bd596-cd8a-434d-8218-b9b5d9569b82","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":109,"box":{"x":62,"y":332,"width":860,"height":11}},{"id":"3f3c4d68-e210-49ee-ad02-78aa2857c31c","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":109,"box":{"x":62,"y":346,"width":861,"height":11}},{"id":"ab49159b-f9a5-4b19-973e-85dc6342ca0b","block_type":"box","text":"is zero.","page_number":109,"box":{"x":62,"y":360,"width":52,"height":8}},{"id":"2ab9a55d-1ac1-4fc9-81dd-2a43d0b2b2c1","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":109,"box":{"x":62,"y":418,"width":249,"height":9}},{"id":"6ce56af8-2bce-4889-b6e9-26e944bc56e6","block_type":"box","text":"Leverage","page_number":109,"box":{"x":63,"y":458,"width":72,"height":11}},{"id":"e7337637-4618-4958-b71a-a85f973770f4","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":109,"box":{"x":63,"y":477,"width":860,"height":11}},{"id":"45c5e571-100d-40c8-ab7d-962c00068be5","block_type":"box","text":"management.","page_number":109,"box":{"x":62,"y":491,"width":101,"height":11}},{"id":"1ab84a3a-76e1-41a4-9a6d-14426b6fe6cc","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":109,"box":{"x":62,"y":524,"width":860,"height":11}},{"id":"35786ae3-0cf2-4b3c-99bf-52f34b35d426","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":109,"box":{"x":62,"y":538,"width":649,"height":11}},{"id":"1de2439c-825e-4606-9346-7fc7e31a20ff","block_type":"box","text":"All transactions in derivatives are fully covered, and are not used as a means of gearing the Sub-Fund.","page_number":109,"box":{"x":62,"y":565,"width":760,"height":11}},{"id":"00f00f13-0243-44ac-aa44-b1a2738c572d","block_type":"box","text":"Permitted derivatives","page_number":109,"box":{"x":72,"y":595,"width":168,"height":9}},{"id":"5e293397-81c1-4013-91c1-5a92514a100a","block_type":"box","text":"Permitted?","page_number":109,"box":{"x":383,"y":595,"width":85,"height":9}},{"id":"715953f6-942c-4265-abbf-f5f6fcd5b6ca","block_type":"box","text":"Prohibited?","page_number":109,"box":{"x":489,"y":595,"width":91,"height":9}},{"id":"a77e2480-71a6-45f6-b981-e2103f98c62f","block_type":"box","text":"Equity index futures","page_number":109,"box":{"x":72,"y":615,"width":146,"height":12}},{"id":"d86b07dd-e7dc-4916-a85e-d053c446e2da","block_type":"box","text":"√","page_number":109,"box":{"x":421,"y":616,"width":8,"height":7}},{"id":"e2182418-90ea-4940-a11f-5877bfd5992b","block_type":"box","text":"Government bond futures","page_number":109,"box":{"x":72,"y":634,"width":188,"height":9}},{"id":"2c7a9de5-f15c-4d44-a491-634fe0d1800c","block_type":"box","text":"√","page_number":109,"box":{"x":530,"y":634,"width":8,"height":8}},{"id":"99b584f7-ce2c-4ef9-818a-922d75b65fdc","block_type":"box","text":"Equity index options","page_number":109,"box":{"x":72,"y":652,"width":148,"height":11}},{"id":"d91629b2-7504-4d1b-b47b-ac3ada5349a8","block_type":"box","text":"√","page_number":109,"box":{"x":421,"y":653,"width":8,"height":7}},{"id":"f56c3387-216e-435d-96ef-212c0209f856","block_type":"box","text":"Forward foreign exchange","page_number":109,"box":{"x":72,"y":671,"width":193,"height":11}},{"id":"922a8826-da2f-4994-b08e-bd3be8cd96a2","block_type":"box","text":"√","page_number":109,"box":{"x":421,"y":671,"width":8,"height":8}},{"id":"6a56fcc0-37a8-4f87-a69e-6322ded68770","block_type":"box","text":"Index credit default swaps","page_number":109,"box":{"x":72,"y":689,"width":192,"height":11}},{"id":"0e6f593d-0663-496c-9267-780cfff33789","block_type":"box","text":"√","page_number":109,"box":{"x":530,"y":689,"width":8,"height":8}},{"id":"dcb9a694-41cc-41a3-8493-d2d8f04595af","block_type":"box","text":"Interest rate swaps","page_number":109,"box":{"x":72,"y":708,"width":140,"height":11}},{"id":"a8db0d4d-c078-4e05-a85b-4bd824a00ad5","block_type":"box","text":"√","page_number":109,"box":{"x":530,"y":708,"width":8,"height":8}},{"id":"bffac3cc-e9a0-43ea-bb40-9bba99c85420","block_type":"box","text":"OTC equity options","page_number":109,"box":{"x":72,"y":726,"width":142,"height":11}},{"id":"e061bbf5-7aab-47c3-a002-4127cf41941e","block_type":"box","text":"√","page_number":109,"box":{"x":421,"y":726,"width":8,"height":8}},{"id":"9f15f737-25dd-409a-886c-08aee593de05","block_type":"box","text":"Inflation swaps","page_number":109,"box":{"x":72,"y":744,"width":109,"height":11}},{"id":"9394fc0d-4ccc-4103-a784-2cd1b0ab8d04","block_type":"box","text":"√","page_number":109,"box":{"x":530,"y":745,"width":8,"height":7}},{"id":"d9fb8ffc-d305-45da-9aeb-fd062efa397e","block_type":"box","text":"Cross currency swaps","page_number":109,"box":{"x":72,"y":763,"width":163,"height":11}},{"id":"d6571657-7385-4875-836c-eb73707ac4dc","block_type":"box","text":"√","page_number":109,"box":{"x":530,"y":763,"width":8,"height":8}},{"id":"f62a58e8-e3b9-4586-afbc-b2a021a9a514","block_type":"box","text":"Other","page_number":109,"box":{"x":72,"y":781,"width":41,"height":9}},{"id":"622572a3-100c-443d-8ef7-015158103751","block_type":"box","text":"√","page_number":109,"box":{"x":530,"y":782,"width":8,"height":7}},{"id":"a74db05b-5517-40ff-90e5-64b77452fa6f","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":109,"box":{"x":63,"y":809,"width":860,"height":11}},{"id":"605989d4-ca6f-482f-868b-1040a55ccd93","block_type":"box","text":"2)","page_number":109,"box":{"x":62,"y":823,"width":13,"height":11}},{"id":"df0939ed-4f0f-40e3-984c-7976a805dffe","block_type":"box","text":"Leverage Limits","page_number":109,"box":{"x":63,"y":891,"width":128,"height":11}},{"id":"2da49f67-9b9c-40e2-aac2-a646a6f2a07d","block_type":"box","text":"(Exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":109,"box":{"x":200,"y":891,"width":722,"height":11}},{"id":"1f01441f-c74c-4de7-82d5-cc6ce8ca89e2","block_type":"box","text":"Regime):","page_number":109,"box":{"x":63,"y":905,"width":65,"height":11}},{"id":"38ba6d91-dee6-4758-8692-8fd742244fb1","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":110,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"48189fda-a145-440c-98ea-beb3387696d1","block_type":"box","text":"110","page_number":110,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"c5e3b017-36bc-46a9-b7f9-a41d40be7db9","block_type":"box","text":"Aviva Investors: Confidential","page_number":110,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"db272657-7311-4232-b540-d83b4e996044","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":110,"box":{"x":62,"y":52,"width":471,"height":12}},{"id":"dfa53cda-f219-4a36-ad06-3d563476a709","block_type":"box","text":"","page_number":110,"box":{"x":62,"y":84,"width":6,"height":4}},{"id":"7c1ae2a8-7eef-48f9-b0bc-10bce6f69774","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":110,"box":{"x":92,"y":81,"width":193,"height":11}},{"id":"d53248de-d455-41f3-b798-fbfa46bc2ba6","block_type":"box","text":"","page_number":110,"box":{"x":62,"y":100,"width":6,"height":5}},{"id":"6a721522-e304-4fb3-9ef3-975d92ea62c9","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":110,"box":{"x":92,"y":97,"width":183,"height":11}},{"id":"ad639d3a-cf74-4698-8897-239c74177687","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":110,"box":{"x":62,"y":138,"width":860,"height":12}},{"id":"9a7859cf-b1de-4532-ad14-d8b6f61174ac","block_type":"box","text":"which case leverage will not exceed the following:","page_number":110,"box":{"x":62,"y":152,"width":368,"height":11}},{"id":"ebe7f2b1-0306-49f4-bc72-79a9e472d311","block_type":"box","text":"","page_number":110,"box":{"x":62,"y":183,"width":6,"height":5}},{"id":"8d996797-58c2-4168-9d92-d4fcd6c88293","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":110,"box":{"x":92,"y":180,"width":193,"height":11}},{"id":"d6ba9772-16b1-4ffc-a927-1b7a27903904","block_type":"box","text":"","page_number":110,"box":{"x":62,"y":200,"width":6,"height":4}},{"id":"3a273f39-9e4b-46db-9bea-a6a52039dd8e","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":110,"box":{"x":92,"y":197,"width":183,"height":11}},{"id":"305268fb-d386-44d5-91f7-8d83f852395e","block_type":"box","text":"Specific Risks","page_number":110,"box":{"x":62,"y":224,"width":113,"height":11}},{"id":"36c02ba5-1030-4412-a84c-2a1aa11dcbfc","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":110,"box":{"x":181,"y":224,"width":462,"height":11}},{"id":"10b5f5b9-a0f7-4e88-a034-f747db9e7cd6","block_type":"box","text":"","page_number":110,"box":{"x":62,"y":248,"width":6,"height":4}},{"id":"d6511bde-02ba-47b7-a48b-b0be344d96d4","block_type":"box","text":"Smaller Companies","page_number":110,"box":{"x":92,"y":245,"width":145,"height":11}},{"id":"1f3dc767-9da8-45c9-bfe6-6665f86d1112","block_type":"box","text":"","page_number":110,"box":{"x":62,"y":262,"width":6,"height":5}},{"id":"c5a555f9-c874-49ab-9de2-d8b3f65a102a","block_type":"box","text":"Equity Securities","page_number":110,"box":{"x":93,"y":259,"width":123,"height":11}},{"id":"4e561708-35bb-458e-9187-499dc2398346","block_type":"box","text":"Past Performance – AI North American Equity Fund","page_number":110,"box":{"x":72,"y":305,"width":408,"height":11}},{"id":"70b27711-f2b5-46a9-9ee0-ed6cb679840b","block_type":"box","text":"% Growth","page_number":110,"box":{"x":71,"y":325,"width":77,"height":8}},{"id":"86bdc7cb-de02-4be2-a314-55c864013840","block_type":"box","text":"1/1/2024 to","page_number":110,"box":{"x":290,"y":350,"width":94,"height":8}},{"id":"ce75b4a2-5483-4860-82aa-0a242d41935a","block_type":"box","text":"31/12/2024","page_number":110,"box":{"x":289,"y":362,"width":75,"height":9}},{"id":"dde700f3-05da-4ee5-90bd-69a2e3ab5560","block_type":"box","text":"1/1/2023 to","page_number":110,"box":{"x":404,"y":350,"width":94,"height":8}},{"id":"c5646ba0-8a09-473b-8659-355ea98023ac","block_type":"box","text":"31/12/2023","page_number":110,"box":{"x":403,"y":362,"width":75,"height":9}},{"id":"094fabf0-cf8c-45e8-b7c4-6beb41ca7301","block_type":"box","text":"1/1/2022 to","page_number":110,"box":{"x":517,"y":350,"width":94,"height":8}},{"id":"f19ee14e-1be9-4a0a-9be1-0ff5dfa8059d","block_type":"box","text":"31/12/2022","page_number":110,"box":{"x":516,"y":362,"width":75,"height":9}},{"id":"b9cd3673-7d35-4ccb-9de7-fa63a6b60e1b","block_type":"box","text":"1/1/2021 to","page_number":110,"box":{"x":631,"y":350,"width":94,"height":8}},{"id":"e48adbc9-648e-42f9-95c1-af3efb2c52f7","block_type":"box","text":"31/12/2021","page_number":110,"box":{"x":630,"y":362,"width":73,"height":9}},{"id":"ba766a3c-ccc9-48a7-bf15-9bb8ee00a3ac","block_type":"box","text":"1/1/2020 to","page_number":110,"box":{"x":744,"y":350,"width":94,"height":8}},{"id":"4d01a10e-2dea-45cf-b770-23b78438c946","block_type":"box","text":"31/12/2020","page_number":110,"box":{"x":743,"y":362,"width":75,"height":9}},{"id":"4a3fa547-4928-4637-9212-f2a66455233a","block_type":"box","text":"UK Corporate Income","page_number":110,"box":{"x":72,"y":387,"width":198,"height":10}},{"id":"f1d5df6f-c4c7-4d3d-babd-4eb5c0d02bdb","block_type":"box","text":"Distribution Units (%)","page_number":110,"box":{"x":72,"y":400,"width":140,"height":10}},{"id":"2dc1b2d7-7f5d-46d9-b0e4-8de547c77405","block_type":"box","text":"30.25","page_number":110,"box":{"x":290,"y":388,"width":36,"height":7}},{"id":"7c084ad4-5f1a-4b0f-a49d-000cbd990d91","block_type":"box","text":"21.26","page_number":110,"box":{"x":403,"y":388,"width":37,"height":7}},{"id":"ade67abd-94ab-4bd4-8e3e-f3ad46249462","block_type":"box","text":"-9.44","page_number":110,"box":{"x":517,"y":388,"width":33,"height":7}},{"id":"1387b75d-74fa-40a3-a178-5428f2c727e4","block_type":"box","text":"31.2","page_number":110,"box":{"x":630,"y":388,"width":28,"height":7}},{"id":"84eca376-3b96-45e3-b832-d6eb6bb37d5b","block_type":"box","text":"20.8","page_number":110,"box":{"x":743,"y":388,"width":29,"height":7}},{"id":"463707ca-11ef-4aec-92fc-5abeb66855ea","block_type":"box","text":"Insured Pension Income","page_number":110,"box":{"x":72,"y":430,"width":198,"height":8}},{"id":"001ee38c-d949-4a1b-a0e5-1bc4951b9b27","block_type":"box","text":"Distribution Units (%)","page_number":110,"box":{"x":72,"y":443,"width":140,"height":10}},{"id":"e664fe27-5b26-4bf0-b7c2-c56bfc08d4fa","block_type":"box","text":"30.00","page_number":110,"box":{"x":290,"y":431,"width":36,"height":7}},{"id":"c2aef47c-59f4-4a1c-b461-959818c304c5","block_type":"box","text":"21.07","page_number":110,"box":{"x":403,"y":431,"width":37,"height":7}},{"id":"6637e2b7-ffc3-40eb-84b3-838f4f8be248","block_type":"box","text":"-9.44","page_number":110,"box":{"x":517,"y":431,"width":33,"height":7}},{"id":"1f0a16f9-1cc1-4eea-9e82-6d6d5274902f","block_type":"box","text":"31.4","page_number":110,"box":{"x":630,"y":431,"width":29,"height":7}},{"id":"791fce2d-e02e-4b90-af95-c42485f4b5c9","block_type":"box","text":"21","page_number":110,"box":{"x":743,"y":431,"width":14,"height":7}},{"id":"6dea297c-05b5-4484-b1e9-4b56f2528941","block_type":"box","text":"UK Institutional Accumulation","page_number":110,"box":{"x":72,"y":473,"width":198,"height":8}},{"id":"08d86a03-d352-472b-bbfa-157b4faeb58b","block_type":"box","text":"Units (%)","page_number":110,"box":{"x":72,"y":486,"width":60,"height":10}},{"id":"23cb78d5-63c0-40b6-8d65-0a336ab21ac3","block_type":"box","text":"29.74","page_number":110,"box":{"x":289,"y":474,"width":38,"height":7}},{"id":"052fead2-dabf-4c64-8cc1-2234b12c89ee","block_type":"box","text":"20.88","page_number":110,"box":{"x":403,"y":474,"width":37,"height":7}},{"id":"5c9f35e6-4538-48b9-8acb-6cc0ff70b935","block_type":"box","text":"-9.61","page_number":110,"box":{"x":517,"y":474,"width":31,"height":7}},{"id":"2827dc9d-5a07-4149-b027-dfd5b7377d16","block_type":"box","text":"31.3","page_number":110,"box":{"x":630,"y":474,"width":29,"height":7}},{"id":"36e97656-f123-49e0-bf0e-3563cd9250dc","block_type":"box","text":"20.7","page_number":110,"box":{"x":743,"y":474,"width":29,"height":7}},{"id":"ea28c6b2-ec3c-4c9a-b5f1-88003e0b367e","block_type":"box","text":"ACS (Fund of Fund)","page_number":110,"box":{"x":71,"y":516,"width":199,"height":10}},{"id":"f0fc1409-7e6d-4b9f-bcd2-fa78be56bee2","block_type":"box","text":"Accumulation Units Class 1","page_number":110,"box":{"x":71,"y":528,"width":197,"height":9}},{"id":"da5be5eb-53a8-42d4-a855-68547d7cbc1a","block_type":"box","text":"(%)","page_number":110,"box":{"x":72,"y":541,"width":21,"height":10}},{"id":"165255ca-62fb-4dee-a191-aeacb494a735","block_type":"box","text":"ACS (Fund of Fund)","page_number":110,"box":{"x":71,"y":566,"width":199,"height":10}},{"id":"11de554a-f4e4-4f81-b9a1-ffa8c54e2ef3","block_type":"box","text":"Accumulation Units Class 2","page_number":110,"box":{"x":71,"y":578,"width":199,"height":8}},{"id":"8266ebd6-dd72-408c-91df-3d00ead441d5","block_type":"box","text":"(%)","page_number":110,"box":{"x":72,"y":590,"width":21,"height":10}},{"id":"7d93a167-5dd1-480d-985a-9126fd3759a0","block_type":"box","text":"UK Corporate Accumulation","page_number":110,"box":{"x":72,"y":615,"width":198,"height":10}},{"id":"e7ce94fb-3871-431b-aefa-f12b69be7e85","block_type":"box","text":"Units (%)","page_number":110,"box":{"x":72,"y":627,"width":60,"height":10}},{"id":"dea044b5-c6c6-4029-86ce-e3dfc57a1d0e","block_type":"box","text":"30.18","page_number":110,"box":{"x":290,"y":615,"width":36,"height":8}},{"id":"cab7851d-1a87-4415-a0e9-0b9f6eff1d01","block_type":"box","text":"21.38","page_number":110,"box":{"x":403,"y":615,"width":37,"height":8}},{"id":"bba86e1a-49a4-43c2-95e7-9b3c5ad1b0c3","block_type":"box","text":"Insured Pension","page_number":110,"box":{"x":72,"y":658,"width":198,"height":8}},{"id":"592cec8a-444c-417c-b873-359fdbd6f36d","block_type":"box","text":"Accumulation Units (%)","page_number":110,"box":{"x":71,"y":670,"width":156,"height":10}},{"id":"e0f6cac1-72bf-43d2-bf66-fd62ffb9d202","block_type":"box","text":"30.04","page_number":110,"box":{"x":290,"y":658,"width":37,"height":8}},{"id":"8d0fe170-9c69-4a74-8344-bdbf5adaffe0","block_type":"box","text":"21.11","page_number":110,"box":{"x":403,"y":658,"width":35,"height":8}},{"id":"60caa698-7629-4577-aba1-c25c90f270c0","block_type":"box","text":"UK Fund of Fund","page_number":110,"box":{"x":72,"y":695,"width":198,"height":8}},{"id":"f0054262-1a7f-4d6f-9014-783e39ef211f","block_type":"box","text":"Accumulation Units (%)","page_number":110,"box":{"x":71,"y":707,"width":156,"height":10}},{"id":"378da7e0-2a7f-44d8-8e83-91691601d0b6","block_type":"box","text":"Index - FTSE® North America","page_number":110,"box":{"x":72,"y":735,"width":199,"height":8}},{"id":"91647f7d-594a-4d1a-bb80-a2cf5c3238ac","block_type":"box","text":"Total Return GBP Index","page_number":110,"box":{"x":73,"y":747,"width":160,"height":8}},{"id":"030e6220-bb0f-4348-b1ae-cb89866a930f","block_type":"box","text":"26.85","page_number":110,"box":{"x":289,"y":735,"width":39,"height":8}},{"id":"c58337dc-ce09-4690-9070-0069bb8efd0f","block_type":"box","text":"19.44","page_number":110,"box":{"x":406,"y":735,"width":35,"height":8}},{"id":"aaac48eb-bf62-42ed-ab15-ac1abc731e12","block_type":"box","text":"-8.79","page_number":110,"box":{"x":517,"y":735,"width":34,"height":8}},{"id":"76520d0e-900e-4b46-9afb-33a319198cc1","block_type":"box","text":"28.1","page_number":110,"box":{"x":630,"y":735,"width":28,"height":8}},{"id":"049d50d2-920e-4d9d-a7b9-8c4f6b9f036b","block_type":"box","text":"16.4","page_number":110,"box":{"x":746,"y":735,"width":27,"height":8}},{"id":"818b3572-a36e-4584-a762-ccdd604da79c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":111,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"dd493379-ec65-4c05-822d-8afc13328e08","block_type":"box","text":"111","page_number":111,"box":{"x":781,"y":940,"width":16,"height":6}},{"id":"1435a5b1-7e4b-45ba-b508-a3c2d862b799","block_type":"box","text":"Aviva Investors: Confidential","page_number":111,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"97c51062-29e2-4659-8f07-cbec0f4ff1a1","block_type":"box","text":"AI Japan Equity Fund","page_number":111,"box":{"x":62,"y":53,"width":170,"height":11}},{"id":"4e985cc5-ffbf-41ee-b59f-de2f48aa5390","block_type":"box","text":"FCA product reference number: 658308","page_number":111,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"820b12af-b959-497f-8021-d7c44824b78d","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":111,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"191e29e7-9b3e-4dd2-ba59-93c8881aa985","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":111,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"2cf7fd7b-2ffa-4fde-a657-5889116abcc6","block_type":"box","text":"Investment Objective and Policy","page_number":111,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"75abc4a4-004d-4c2e-a99b-54994f3e3057","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of Japanese","page_number":111,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"a190effa-64eb-4617-aecf-a05be634e9de","block_type":"box","text":"companies.","page_number":111,"box":{"x":62,"y":198,"width":84,"height":10}},{"id":"51409ed8-f841-4de9-a4c9-7ab0b7a66dd0","block_type":"box","text":"Core investment:","page_number":111,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"afb7a648-f0a8-4918-a7ab-86f1e38bdff3","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of companies which are domiciled or listed in Japan or which","page_number":111,"box":{"x":62,"y":236,"width":860,"height":12}},{"id":"f78d9c1f-557f-41f6-9d1c-17fa832c2745","block_type":"box","text":"have significant trading activities in Japan.","page_number":111,"box":{"x":62,"y":250,"width":311,"height":11}},{"id":"13c53794-d0b2-49ea-b736-dfcd91629aea","block_type":"box","text":"Other investments:","page_number":111,"box":{"x":62,"y":270,"width":151,"height":9}},{"id":"c456d649-faa6-4d58-9d5a-2c0272694e69","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by the Investment Manager),","page_number":111,"box":{"x":62,"y":289,"width":860,"height":12}},{"id":"6e7853e8-ad02-4b45-9673-1492fee612a0","block_type":"box","text":"derivatives, cash and deposits.","page_number":111,"box":{"x":62,"y":303,"width":228,"height":11}},{"id":"515832ac-82cf-497d-be6f-feba59f543d1","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":111,"box":{"x":63,"y":323,"width":860,"height":11}},{"id":"51241b16-6f89-4847-81d1-06548a7fa136","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":111,"box":{"x":62,"y":336,"width":861,"height":12}},{"id":"78021b8a-8b77-4e4f-b8b8-e3728e86dadf","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":111,"box":{"x":62,"y":350,"width":545,"height":11}},{"id":"18e255d8-27b4-4f31-a588-af0a4245038b","block_type":"box","text":"Strategy:","page_number":111,"box":{"x":62,"y":369,"width":70,"height":12}},{"id":"5cf0bc79-9676-4a67-a3d3-861d0deca92b","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager aims to achieve the Sub-Fund’s objective by","page_number":111,"box":{"x":62,"y":389,"width":861,"height":11}},{"id":"1dd940f4-cbc6-4609-80e7-7696355faa0d","block_type":"box","text":"constructing a diversified portfolio of Japanese equities. The Investment Manager focuses on undervalued companies","page_number":111,"box":{"x":62,"y":403,"width":860,"height":11}},{"id":"377dec9e-8749-4cf0-9d70-2e4a4b9847d3","block_type":"box","text":"whose long-term growth prospects are not fully reflected in their stock price and it prefers companies that can generate","page_number":111,"box":{"x":62,"y":416,"width":861,"height":12}},{"id":"74af882e-f0a4-4fbd-9100-9909d016371b","block_type":"box","text":"above average long-term returns on their capital.","page_number":111,"box":{"x":62,"y":430,"width":360,"height":11}},{"id":"939a5eb9-0701-4f2e-883e-b711e61ebc07","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":111,"box":{"x":62,"y":450,"width":527,"height":11}},{"id":"597aca89-0686-4177-89a0-02ba993d6339","block_type":"box","text":"please see Appendix 2 for information on","page_number":111,"box":{"x":594,"y":450,"width":328,"height":11}},{"id":"8facc623-e80b-4a18-a42b-c76cd98466a0","block_type":"box","text":"these limited investment restrictions.","page_number":111,"box":{"x":62,"y":464,"width":295,"height":8}},{"id":"7200f4fc-c80c-4a01-8d8d-97bc87cd35a3","block_type":"box","text":"Performance & Risk Measurement:","page_number":111,"box":{"x":63,"y":483,"width":275,"height":9}},{"id":"27ac25e8-542c-40d8-bccb-198b0a10eac2","block_type":"box","text":"The Sub-Fund’s performance is compared against the Total Return TOPIX® converted to GBP Index (the “Index”)","page_number":111,"box":{"x":62,"y":503,"width":843,"height":11}},{"id":"a40d0682-eeee-4a2d-b873-d053c694719e","block_type":"box","text":"□","page_number":111,"box":{"x":908,"y":504,"width":5,"height":4}},{"id":"a4c48b4d-5853-4584-99c2-ede6e3d57595","block_type":"box","text":".","page_number":111,"box":{"x":915,"y":510,"width":2,"height":1}},{"id":"f48b5860-0a2d-47fc-966e-d98ef58442c2","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":111,"box":{"x":62,"y":522,"width":860,"height":11}},{"id":"69c0d3b0-9199-4844-8a58-e827a308a947","block_type":"box","text":"may also hold companies that do not form part of it.","page_number":111,"box":{"x":62,"y":536,"width":380,"height":11}},{"id":"bf48fa9b-f524-41b6-99ae-da454f354ad5","block_type":"box","text":"The Investment Manager may not invest more than 7% of the Sub-Fund in a single stock.","page_number":111,"box":{"x":62,"y":555,"width":661,"height":12}},{"id":"45c8abff-57bb-4909-bb67-b4eaa3822313","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund’s returns and the returns of","page_number":111,"box":{"x":62,"y":575,"width":861,"height":11}},{"id":"efcc89d5-e35a-4dfe-90d3-e707d3cebb39","block_type":"box","text":"the Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":111,"box":{"x":62,"y":589,"width":860,"height":11}},{"id":"496730b4-46c1-47af-b3ee-5ef947e83081","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 3% and 7% compared","page_number":111,"box":{"x":62,"y":602,"width":860,"height":12}},{"id":"8fef48ad-2d2e-4bdc-9922-1faad89f2af0","block_type":"box","text":"to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":111,"box":{"x":62,"y":616,"width":571,"height":11}},{"id":"920d4bb5-fce0-43eb-ad24-81c0242a116c","block_type":"box","text":"The Index is comprised of large Japanese companies, as determined by their market capitalisation (total market value","page_number":111,"box":{"x":62,"y":636,"width":861,"height":11}},{"id":"0ac24593-82f6-45ee-9d8e-66a51a680fd1","block_type":"box","text":"of a company's outstanding shares).","page_number":111,"box":{"x":62,"y":649,"width":267,"height":12}},{"id":"5e77b905-a6f0-41d1-8e41-eede0890bd0c","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":111,"box":{"x":62,"y":669,"width":861,"height":11}},{"id":"8bd3e382-aa47-41fa-b8b8-86b0d590569c","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the","page_number":111,"box":{"x":62,"y":682,"width":861,"height":12}},{"id":"93438356-7ccd-4d58-b2b8-d137b032853a","block_type":"box","text":"Sub-Fund’s performance.","page_number":111,"box":{"x":62,"y":696,"width":187,"height":11}},{"id":"8f026245-e36c-4b1b-bf35-9889ae383bcb","block_type":"box","text":"Additional Information","page_number":111,"box":{"x":62,"y":716,"width":177,"height":9}},{"id":"0df06d8f-08ee-46ac-bec7-991b1b98fb70","block_type":"box","text":"Investment Manager","page_number":111,"box":{"x":117,"y":742,"width":152,"height":11}},{"id":"91a7a98d-bda6-4751-bd69-852c15465f64","block_type":"box","text":"Schroder Investment Management Limited","page_number":111,"box":{"x":353,"y":741,"width":314,"height":12}},{"id":"ce90c114-8b52-4f8c-b9b4-47e732b45f90","block_type":"box","text":"Type of Units","page_number":111,"box":{"x":116,"y":767,"width":98,"height":11}},{"id":"9d72ced0-475c-460a-93fa-fdff37df7c5e","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":111,"box":{"x":353,"y":767,"width":292,"height":11}},{"id":"dde8f133-4354-4afe-a500-39b1c39f8275","block_type":"box","text":"UK Corporate Accumulation Units","page_number":111,"box":{"x":353,"y":792,"width":249,"height":11}},{"id":"e8770646-4f1f-4b6a-a7f7-c0b00f971d92","block_type":"box","text":"Insured Pension Income Distribution Units","page_number":111,"box":{"x":353,"y":818,"width":311,"height":9}},{"id":"8217f927-afdc-4d8d-ad36-9292d4260e14","block_type":"box","text":"Insured Pension Accumulation Units","page_number":111,"box":{"x":353,"y":844,"width":268,"height":8}},{"id":"acc74c56-525d-4940-9e2c-a1c56a067419","block_type":"box","text":"UK Institutional Accumulation Units","page_number":111,"box":{"x":353,"y":869,"width":259,"height":9}},{"id":"a7e617a5-f55b-48af-99b3-d4efd4d72982","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":111,"box":{"x":353,"y":895,"width":274,"height":8}},{"id":"98ceb3cc-5fc0-414f-bb5e-6a5249905068","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 1)","page_number":111,"box":{"x":352,"y":920,"width":369,"height":11}},{"id":"7cc16130-0bf0-4f4e-b291-fee72b262293","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":112,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"c357a706-850f-4839-aebf-ecb3b68f12b0","block_type":"box","text":"112","page_number":112,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"795134b6-ff5a-41a9-94d1-88365c364253","block_type":"box","text":"Aviva Investors: Confidential","page_number":112,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"bc169d41-c03d-4d9d-955d-fdfa6e078530","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 2)","page_number":112,"box":{"x":352,"y":58,"width":369,"height":12}},{"id":"c8698232-644e-434e-8d9d-824df3ccfb44","block_type":"box","text":"Dealing Day","page_number":112,"box":{"x":117,"y":84,"width":90,"height":11}},{"id":"042d156c-8171-4857-8151-3339e40eedd6","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":112,"box":{"x":353,"y":84,"width":393,"height":11}},{"id":"90012075-a640-47e4-a9cd-2dfd7da27ae9","block_type":"box","text":"Deal Cut-Off Point","page_number":112,"box":{"x":117,"y":110,"width":135,"height":8}},{"id":"5c696027-c6e7-4493-881c-20a54b1d31ad","block_type":"box","text":"2.00 p.m.","page_number":112,"box":{"x":352,"y":110,"width":68,"height":11}},{"id":"c85b1488-5907-4cfb-9904-8427cf670ada","block_type":"box","text":"Valuation Point","page_number":112,"box":{"x":116,"y":135,"width":112,"height":9}},{"id":"10784c74-618d-402c-980f-08e71d4cf8c9","block_type":"box","text":"3.00 p.m.","page_number":112,"box":{"x":352,"y":135,"width":68,"height":11}},{"id":"5d792ebd-627f-470a-9bbb-860aa71e3543","block_type":"box","text":"*Minimum Investment","page_number":112,"box":{"x":116,"y":161,"width":173,"height":8}},{"id":"89d56085-9702-4888-b806-736e6f684475","block_type":"box","text":"UK Corporate Income","page_number":112,"box":{"x":117,"y":186,"width":216,"height":11}},{"id":"8d9cde71-cb2b-4ab0-b7d5-354a3068bcc1","block_type":"box","text":"Distribution Units, UK","page_number":112,"box":{"x":117,"y":200,"width":216,"height":10}},{"id":"165ac192-25a5-461d-bd10-0e862dbc6f60","block_type":"box","text":"Corporate Accumulation","page_number":112,"box":{"x":117,"y":213,"width":215,"height":12}},{"id":"c52cbc9b-c93d-4039-9a8f-ac68c5efefe0","block_type":"box","text":"Units, Insured Pension","page_number":112,"box":{"x":117,"y":227,"width":215,"height":10}},{"id":"b35df2ef-6728-4ed7-a609-0a815afa6f96","block_type":"box","text":"Income Distribution Units,","page_number":112,"box":{"x":117,"y":241,"width":215,"height":10}},{"id":"2f08b44f-70d8-4873-a82e-bd1634ff2e66","block_type":"box","text":"Insured Pension","page_number":112,"box":{"x":117,"y":255,"width":215,"height":8}},{"id":"17a77b08-fc49-4cbb-9505-e8d4b72bfd87","block_type":"box","text":"Accumulation Units, UK","page_number":112,"box":{"x":116,"y":268,"width":217,"height":10}},{"id":"6496df1f-d1e9-4da5-a2be-3e5cb0e8679d","block_type":"box","text":"Institutional Accumulation","page_number":112,"box":{"x":117,"y":282,"width":215,"height":9}},{"id":"2f0c7654-fc1c-4352-8603-e7c71fed00c2","block_type":"box","text":"Units, UK Fund of Fund","page_number":112,"box":{"x":117,"y":295,"width":215,"height":11}},{"id":"1da0541c-015b-45aa-998a-554d6e4a2672","block_type":"box","text":"Accumulation Units, ACS","page_number":112,"box":{"x":116,"y":309,"width":217,"height":10}},{"id":"f9734e60-51c6-4f2f-9189-cb7f065ad78c","block_type":"box","text":"(Fund of Fund) Accumulation","page_number":112,"box":{"x":117,"y":323,"width":215,"height":11}},{"id":"74cd6f42-1f72-445f-b417-fb909e1a570b","block_type":"box","text":"Units (Class 1), ACS (Fund of","page_number":112,"box":{"x":117,"y":336,"width":216,"height":11}},{"id":"6c56491a-e887-4240-9a17-07426b2d77b2","block_type":"box","text":"Fund) Accumulation Units","page_number":112,"box":{"x":117,"y":350,"width":216,"height":11}},{"id":"d44a6b42-edd6-4f8f-a1b9-e6f8a29908cc","block_type":"box","text":"(Class 2)","page_number":112,"box":{"x":117,"y":364,"width":65,"height":11}},{"id":"b64c7342-f979-4ad1-a738-a2f7aa81a543","block_type":"box","text":"No minimum","page_number":112,"box":{"x":353,"y":186,"width":92,"height":9}},{"id":"d5c94e4e-a890-497d-a13e-4f320a2a0cc2","block_type":"box","text":"Minimum withdrawal","page_number":112,"box":{"x":117,"y":389,"width":150,"height":9}},{"id":"7764eaa3-45a3-4627-b049-71d2c8d04b12","block_type":"box","text":"No minimum","page_number":112,"box":{"x":353,"y":389,"width":92,"height":9}},{"id":"adbbddd5-196f-476e-a6f9-7a8f6dfeda25","block_type":"box","text":"Tax Criteria for investment","page_number":112,"box":{"x":116,"y":415,"width":212,"height":9}},{"id":"d9cccc91-9245-4c3a-8271-7c6233ebf96f","block_type":"box","text":"UK Corporate Income","page_number":112,"box":{"x":117,"y":440,"width":216,"height":11}},{"id":"e793e0f8-810d-4b65-8ceb-42919082366b","block_type":"box","text":"Distribution Units","page_number":112,"box":{"x":117,"y":454,"width":125,"height":9}},{"id":"e54bbd2a-cae9-4dbb-93c0-792adffab049","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":112,"box":{"x":352,"y":440,"width":404,"height":11}},{"id":"331b1f73-8dd7-486c-9031-34712c86d442","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":112,"box":{"x":353,"y":454,"width":403,"height":11}},{"id":"e698104a-ce7c-4bc3-8714-65fdca7c597e","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":112,"box":{"x":352,"y":468,"width":404,"height":11}},{"id":"f0d98b6d-a043-4c04-824c-224c1a5a4df8","block_type":"box","text":"linked pension business contracts.","page_number":112,"box":{"x":353,"y":481,"width":253,"height":11}},{"id":"f5030c65-7f59-4ae6-8d74-5e83c152ab53","block_type":"box","text":"UK Corporate Accumulation","page_number":112,"box":{"x":117,"y":507,"width":215,"height":11}},{"id":"b24fbcb0-e103-4711-95cc-bf64999ac646","block_type":"box","text":"Units","page_number":112,"box":{"x":117,"y":521,"width":36,"height":8}},{"id":"4a1bee52-fd16-432c-b8e0-4fa2109404ad","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":112,"box":{"x":352,"y":507,"width":404,"height":11}},{"id":"1c0511c5-a994-4409-bc81-13c77fb0f42e","block_type":"box","text":"purposes of tax in the UK, and (ii) which holds such","page_number":112,"box":{"x":353,"y":520,"width":403,"height":12}},{"id":"5f702829-e831-473b-a4f8-f2ac161f9a25","block_type":"box","text":"Units for purposes other than to back exclusively its unit","page_number":112,"box":{"x":353,"y":534,"width":403,"height":11}},{"id":"95fa2669-63a1-4bb0-a0d5-8ac59c952106","block_type":"box","text":"linked pension business contracts.","page_number":112,"box":{"x":353,"y":548,"width":253,"height":11}},{"id":"8e308e76-fdc2-448c-968b-d03587870119","block_type":"box","text":"Insured Pension Income","page_number":112,"box":{"x":117,"y":573,"width":216,"height":9}},{"id":"1698dbff-011d-411e-abaf-55632011944f","block_type":"box","text":"Distribution Units","page_number":112,"box":{"x":117,"y":587,"width":125,"height":9}},{"id":"4ea08248-ee5a-4486-8b75-bae4ce20f0a5","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":112,"box":{"x":352,"y":573,"width":404,"height":11}},{"id":"5e6ed9e3-d645-46c4-adfb-d4510126f75e","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":112,"box":{"x":353,"y":587,"width":403,"height":11}},{"id":"6e936778-c0dd-4da5-90ee-aeeb0ba1daf7","block_type":"box","text":"back exclusively its unit linked pension business","page_number":112,"box":{"x":353,"y":601,"width":403,"height":11}},{"id":"cb4d3c12-d692-45bc-9517-e6a3cacde99d","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":112,"box":{"x":352,"y":614,"width":404,"height":11}},{"id":"e731073a-8240-4fb8-9eac-0f03abaa7e24","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":112,"box":{"x":353,"y":628,"width":307,"height":11}},{"id":"417edc26-91b1-4c90-a0d9-e8754f5cfe5c","block_type":"box","text":"Insured Pension","page_number":112,"box":{"x":117,"y":653,"width":119,"height":9}},{"id":"0b55261f-6158-4dfd-bd04-18fcd5814f7b","block_type":"box","text":"Accumulation Units","page_number":112,"box":{"x":116,"y":667,"width":143,"height":9}},{"id":"15e1292b-28e4-414f-bc00-18f274ffd0b1","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":112,"box":{"x":352,"y":653,"width":404,"height":11}},{"id":"c5d7d7af-216f-4c89-98be-1d40b3efc2a4","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":112,"box":{"x":353,"y":667,"width":403,"height":11}},{"id":"412ddefa-9d3b-4123-98a3-3aba9016d897","block_type":"box","text":"back exclusively its unit linked pension business","page_number":112,"box":{"x":353,"y":681,"width":403,"height":11}},{"id":"6f120d69-9ab4-4a44-966e-d7fa0eb6b151","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":112,"box":{"x":352,"y":694,"width":404,"height":11}},{"id":"5e672e83-068d-47eb-9105-84275bc00a01","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":112,"box":{"x":353,"y":708,"width":307,"height":11}},{"id":"9b0374e2-a893-4023-a01f-5dc5b94eab1d","block_type":"box","text":"UK Institutional","page_number":112,"box":{"x":117,"y":734,"width":111,"height":8}},{"id":"42abc9e2-a187-47a6-ade6-3509f7f7c631","block_type":"box","text":"Accumulation Units","page_number":112,"box":{"x":116,"y":747,"width":143,"height":9}},{"id":"35977b1f-d0af-431d-845b-1e5a92f66445","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":112,"box":{"x":352,"y":734,"width":404,"height":11}},{"id":"542d718a-7fbe-4691-88c7-69237b1a2e94","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":112,"box":{"x":353,"y":747,"width":403,"height":11}},{"id":"d8104c55-6d99-4fd5-a7b9-5f2875b1f3eb","block_type":"box","text":"tax treaties.","page_number":112,"box":{"x":352,"y":761,"width":85,"height":9}},{"id":"c4676d98-dde7-41cc-b019-4ed2d2c88d7c","block_type":"box","text":"UK Fund of Fund","page_number":112,"box":{"x":117,"y":792,"width":126,"height":9}},{"id":"010f5a8c-f997-4a29-839d-0dba1be73e06","block_type":"box","text":"Accumulation Units","page_number":112,"box":{"x":116,"y":806,"width":143,"height":9}},{"id":"38199f9a-5cc1-4a58-98cf-a6b4317f31dc","block_type":"box","text":"A sub-fund of a UK authorised Open-Ended Investment","page_number":112,"box":{"x":352,"y":792,"width":404,"height":11}},{"id":"a24ba1e1-3568-4e17-92cb-ff3242f4874d","block_type":"box","text":"Company.","page_number":112,"box":{"x":352,"y":806,"width":75,"height":11}},{"id":"6b4aea85-5251-447f-a2f0-b892984b808b","block_type":"box","text":"ACS (Fund of Fund)","page_number":112,"box":{"x":116,"y":831,"width":149,"height":12}},{"id":"bc6d5689-bf32-4416-b394-01fcc97388f4","block_type":"box","text":"Accumulation Units (Class","page_number":112,"box":{"x":116,"y":845,"width":195,"height":11}},{"id":"191d2a1a-f3ec-4aa2-8b5c-90c6920b6cb0","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":112,"box":{"x":118,"y":859,"width":171,"height":11}},{"id":"10de95a2-3993-46c5-be93-ac0580415f65","block_type":"box","text":"Accumulation Units (Class 2)","page_number":112,"box":{"x":116,"y":872,"width":214,"height":12}},{"id":"31e16f00-b447-45f1-b0cd-da5a6a709033","block_type":"box","text":"A sub-fund of a UK authorised contractual scheme.","page_number":112,"box":{"x":352,"y":832,"width":378,"height":8}},{"id":"4a547964-2f4c-40c0-a615-6a07c4d3d770","block_type":"box","text":"**Current Charges:","page_number":112,"box":{"x":116,"y":898,"width":149,"height":11}},{"id":"e124f724-61b3-4b5c-9dee-4ad4310331ad","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":113,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"133063a6-e32d-4a3e-bf43-316f819c06fb","block_type":"box","text":"113","page_number":113,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"258bb591-7084-40d4-ad79-60cb2ce36333","block_type":"box","text":"Aviva Investors: Confidential","page_number":113,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"7e4e3445-056b-4ae5-abb3-ba765d6fb5f2","block_type":"box","text":"UK Corporate Income","page_number":113,"box":{"x":117,"y":58,"width":160,"height":11}},{"id":"8e3b5711-b59d-4bf3-be68-b1088f6284db","block_type":"box","text":"Distribution Units, UK","page_number":113,"box":{"x":117,"y":72,"width":158,"height":10}},{"id":"7d2f92e9-fe1e-4fea-b5aa-219f61009f01","block_type":"box","text":"Corporate Accumulation","page_number":113,"box":{"x":117,"y":86,"width":178,"height":11}},{"id":"62b7a579-7a57-4b8d-a781-7f262b6e975f","block_type":"box","text":"Units, Insured Pension","page_number":113,"box":{"x":117,"y":100,"width":167,"height":10}},{"id":"cf825f32-74e8-4fcf-952d-1f095b4f6978","block_type":"box","text":"Income Distribution Units,","page_number":113,"box":{"x":117,"y":113,"width":189,"height":10}},{"id":"21554a9c-d50b-4439-ac73-5b5bb55ebae7","block_type":"box","text":"Insured Pension","page_number":113,"box":{"x":117,"y":127,"width":119,"height":8}},{"id":"ee9d0a00-18ee-4393-89db-311c6d38424a","block_type":"box","text":"Accumulation Units","page_number":113,"box":{"x":116,"y":141,"width":143,"height":8}},{"id":"184761f8-6c7d-457e-bc02-358fc92de420","block_type":"box","text":",","page_number":113,"box":{"x":261,"y":148,"width":2,"height":3}},{"id":"c2e352ff-2fd9-4823-946e-38b9ba108db7","block_type":"box","text":"UK","page_number":113,"box":{"x":270,"y":141,"width":22,"height":8}},{"id":"dc45be66-4b6c-43fc-b744-ff12def5f42a","block_type":"box","text":"Institutional Accumulation","page_number":113,"box":{"x":117,"y":154,"width":188,"height":9}},{"id":"f3e3904c-7ddc-4b1b-b75f-7cdc092d3aab","block_type":"box","text":"Units, ACS (Fund of Fund)","page_number":113,"box":{"x":117,"y":168,"width":195,"height":11}},{"id":"82900db3-5bf7-4254-becc-1e7fb686ad48","block_type":"box","text":"Accumulation Units (Class","page_number":113,"box":{"x":116,"y":181,"width":195,"height":11}},{"id":"0d905a91-ded0-4677-8d69-a53d58bb162a","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":113,"box":{"x":118,"y":195,"width":171,"height":11}},{"id":"214eb7ce-727a-45a8-988a-89c7f3e74039","block_type":"box","text":"Accumulation Units (Class 2)","page_number":113,"box":{"x":116,"y":209,"width":214,"height":11}},{"id":"f23a08c0-740c-435f-849e-975d9eff1035","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":113,"box":{"x":352,"y":58,"width":404,"height":12}},{"id":"e25168c9-19f0-482a-b839-2d3e82bc3500","block_type":"box","text":"Unitholder","page_number":113,"box":{"x":353,"y":72,"width":75,"height":9}},{"id":"8eb9aac6-e4d2-475f-9903-dab1765d58f4","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":113,"box":{"x":352,"y":92,"width":404,"height":11}},{"id":"636db403-8137-4ba1-9793-f378d4278e91","block_type":"box","text":"property","page_number":113,"box":{"x":353,"y":106,"width":60,"height":10}},{"id":"5fe673ad-cd37-459b-a178-4f4d190b1192","block_type":"box","text":"UK Fund of Fund","page_number":113,"box":{"x":117,"y":234,"width":126,"height":9}},{"id":"71f2bd59-84c3-44bb-b4f9-550ec99a511f","block_type":"box","text":"Accumulation Units","page_number":113,"box":{"x":116,"y":248,"width":143,"height":9}},{"id":"5a0d61bb-4b22-4904-948d-49efb4eb6612","block_type":"box","text":"ACS management charge: 0.12% per annum deducted","page_number":113,"box":{"x":352,"y":234,"width":404,"height":11}},{"id":"fd9227c8-bf60-4dee-9c4a-40d6b03896be","block_type":"box","text":"from Scheme Property of the UK Fund of Fund","page_number":113,"box":{"x":352,"y":248,"width":404,"height":11}},{"id":"27b2331d-568a-4f49-be06-78da7ada450d","block_type":"box","text":"Accumulation Units.","page_number":113,"box":{"x":352,"y":262,"width":147,"height":8}},{"id":"89cfc79a-4379-45f7-948a-edcac862b69e","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":113,"box":{"x":352,"y":301,"width":404,"height":11}},{"id":"452cf18d-1033-497d-a033-3a883eeefc6f","block_type":"box","text":"property","page_number":113,"box":{"x":353,"y":315,"width":60,"height":11}},{"id":"78572e7b-016d-4d93-94e9-cc75ab24e886","block_type":"box","text":"Accounting Dates","page_number":113,"box":{"x":116,"y":340,"width":142,"height":11}},{"id":"daffb355-3b5b-4220-9f2c-37db8e2cc3fc","block_type":"box","text":"Annual Accounting Date","page_number":113,"box":{"x":116,"y":366,"width":179,"height":11}},{"id":"6b8b4c88-166a-4171-8048-b42d891b8808","block_type":"box","text":"31 December","page_number":113,"box":{"x":352,"y":366,"width":100,"height":8}},{"id":"c9c0cc89-9da1-4bf3-abd5-d19c7f1d6511","block_type":"box","text":"First Accounting Date","page_number":113,"box":{"x":117,"y":391,"width":159,"height":11}},{"id":"00f772a4-cebf-47f6-8f61-5559020d4644","block_type":"box","text":"31 December 2015","page_number":113,"box":{"x":352,"y":391,"width":142,"height":9}},{"id":"07819068-eef9-495d-b445-ffc4b42b6d38","block_type":"box","text":"Annual Income Allocation","page_number":113,"box":{"x":116,"y":417,"width":188,"height":8}},{"id":"0b16a870-8ba8-4594-b619-6f0c73b01c99","block_type":"box","text":"Date","page_number":113,"box":{"x":117,"y":430,"width":33,"height":9}},{"id":"5a50846b-824b-4e31-9cce-2cfae453b457","block_type":"box","text":"On or before 28 /29 February","page_number":113,"box":{"x":352,"y":416,"width":217,"height":12}},{"id":"012ab6ee-8e93-47c0-92ff-e2116b799e33","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":113,"box":{"x":117,"y":456,"width":294,"height":11}},{"id":"b1cac861-4103-49a7-b60a-78887204fd5a","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":113,"box":{"x":62,"y":481,"width":861,"height":11}},{"id":"68e574a7-c758-4604-8ca8-dd26f7dd752c","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":113,"box":{"x":62,"y":495,"width":408,"height":11}},{"id":"821a1a31-991e-4df1-8d13-ab02a9866363","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":113,"box":{"x":62,"y":515,"width":642,"height":11}},{"id":"a6296a8e-2ecf-4254-9cf5-787df0000c86","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":113,"box":{"x":62,"y":534,"width":860,"height":11}},{"id":"a8b5d4b0-9593-4179-8131-a2e6d61fe9a1","block_type":"box","text":"this Prospectus.","page_number":113,"box":{"x":62,"y":548,"width":117,"height":11}},{"id":"a7ade6f1-8947-4285-817a-70ede9e1bc47","block_type":"box","text":"□","page_number":113,"box":{"x":62,"y":563,"width":5,"height":3}},{"id":"4b77cc53-79e9-478c-a180-dcf1db638052","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":113,"box":{"x":74,"y":561,"width":342,"height":9}},{"id":"86940675-42d7-463b-a18c-fc878f7ed0c5","block_type":"box","text":"Securities Financing and other Transactions:","page_number":113,"box":{"x":62,"y":600,"width":358,"height":12}},{"id":"b968f9bc-8dff-4314-9b12-46e74aa666ce","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":113,"box":{"x":62,"y":620,"width":860,"height":11}},{"id":"990afc7b-faed-4e94-b7ee-8e360db9623c","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":113,"box":{"x":62,"y":634,"width":438,"height":11}},{"id":"8b030e7f-b042-4656-b621-9cd6b9f7a660","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":113,"box":{"x":62,"y":673,"width":861,"height":11}},{"id":"97cd849d-9a28-4348-b5a1-76a3ab0842f0","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":113,"box":{"x":62,"y":687,"width":860,"height":11}},{"id":"9179d521-ccda-4615-b0a5-6bc345ab5eae","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":113,"box":{"x":62,"y":700,"width":861,"height":12}},{"id":"a24939d2-5b8f-4331-b850-0dce7cd0ace1","block_type":"box","text":"15%.","page_number":113,"box":{"x":63,"y":714,"width":35,"height":9}},{"id":"5f5382a2-eed8-48a4-af79-ac574a0f2c58","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":113,"box":{"x":62,"y":753,"width":860,"height":11}},{"id":"c6ee79b2-d6b5-4511-b599-dac9ff79dbdc","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":113,"box":{"x":62,"y":767,"width":860,"height":11}},{"id":"f815005a-c5b3-45c2-be57-e3e358da1c8e","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":113,"box":{"x":62,"y":780,"width":861,"height":12}},{"id":"c51b303b-1e1e-482b-98ae-7c5118ad70c2","block_type":"box","text":"is zero.","page_number":113,"box":{"x":62,"y":794,"width":52,"height":9}},{"id":"341a8aea-9e22-40d3-91d7-4644c5973939","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":113,"box":{"x":62,"y":853,"width":249,"height":9}},{"id":"5bc4eeef-865a-47ad-9d49-e5f70d912a20","block_type":"box","text":"Leverage","page_number":113,"box":{"x":63,"y":892,"width":72,"height":11}},{"id":"311a431d-5539-4ef2-93b3-23116676da8d","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":113,"box":{"x":63,"y":912,"width":860,"height":11}},{"id":"70aae7d9-32e5-479c-a0a1-6b29fff6164e","block_type":"box","text":"management.","page_number":113,"box":{"x":62,"y":926,"width":101,"height":11}},{"id":"148caac8-fad6-4130-8010-24c53a9a9065","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":114,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"0e00dd64-1519-4046-9800-6ee9f0c42c2f","block_type":"box","text":"114","page_number":114,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"3be1cf2f-504e-4564-b2b1-d76159c9075b","block_type":"box","text":"Aviva Investors: Confidential","page_number":114,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"e5484a9b-4bd7-4e89-9951-eb7fd4735bd3","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":114,"box":{"x":62,"y":66,"width":860,"height":11}},{"id":"5f1072a9-e44b-4034-b435-3a660b114cd3","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":114,"box":{"x":62,"y":80,"width":649,"height":11}},{"id":"4e581af9-9543-441b-9547-7f7f85d1d1d7","block_type":"box","text":"All transactions in derivatives are fully covered, and are not used as a means of gearing the Sub-Fund.","page_number":114,"box":{"x":62,"y":107,"width":760,"height":11}},{"id":"f7c06b4b-d4dc-41a3-b211-589e2eb2a07c","block_type":"box","text":"Permitted derivatives","page_number":114,"box":{"x":72,"y":137,"width":168,"height":9}},{"id":"26ba86d4-06e6-4818-9327-504f6c62880f","block_type":"box","text":"Permitted?","page_number":114,"box":{"x":383,"y":137,"width":85,"height":9}},{"id":"29fa3be7-d3fc-48e6-af94-c6a8abac1f91","block_type":"box","text":"Prohibited?","page_number":114,"box":{"x":489,"y":137,"width":91,"height":9}},{"id":"784d890b-1fb7-4ed1-a647-df9945384bb1","block_type":"box","text":"Equity index futures","page_number":114,"box":{"x":72,"y":158,"width":146,"height":11}},{"id":"7ed54ca4-9fc2-4452-ac52-0cca30b90433","block_type":"box","text":"√","page_number":114,"box":{"x":421,"y":158,"width":8,"height":8}},{"id":"38f2afb7-d475-42f4-8e38-9dd5b9c51ddd","block_type":"box","text":"Government bond futures","page_number":114,"box":{"x":72,"y":176,"width":188,"height":9}},{"id":"c407bc0b-0ab2-4eea-aa3b-844eb24eab2a","block_type":"box","text":"√","page_number":114,"box":{"x":530,"y":176,"width":8,"height":8}},{"id":"82c9f362-8002-4598-9486-05f953b01821","block_type":"box","text":"Equity index options","page_number":114,"box":{"x":72,"y":195,"width":148,"height":11}},{"id":"8f7369b9-f1c6-4f38-bf5c-f24f16e71203","block_type":"box","text":"√","page_number":114,"box":{"x":421,"y":195,"width":8,"height":7}},{"id":"be85d9fa-a575-4dae-ae67-2842ac8f7a53","block_type":"box","text":"Forward foreign exchange","page_number":114,"box":{"x":72,"y":213,"width":193,"height":11}},{"id":"f6a92675-2dee-4a7c-94ab-8023566ccc31","block_type":"box","text":"√","page_number":114,"box":{"x":421,"y":213,"width":8,"height":8}},{"id":"12db791f-7afd-4f7b-b411-4e75c7faded2","block_type":"box","text":"Index credit default swaps","page_number":114,"box":{"x":72,"y":231,"width":192,"height":11}},{"id":"3145cce9-e988-40c5-8fc6-9bae770f4f6c","block_type":"box","text":"√","page_number":114,"box":{"x":530,"y":232,"width":8,"height":7}},{"id":"935dbdee-3bd7-4152-ad4a-935661ce5a35","block_type":"box","text":"Interest rate swaps","page_number":114,"box":{"x":72,"y":250,"width":140,"height":11}},{"id":"f3828c49-9b27-4fc3-8438-aa477dea8783","block_type":"box","text":"√","page_number":114,"box":{"x":530,"y":250,"width":8,"height":8}},{"id":"46098579-af22-4b73-b3bb-de55d73033e1","block_type":"box","text":"OTC equity options","page_number":114,"box":{"x":72,"y":268,"width":142,"height":11}},{"id":"bb734202-3679-4da6-a126-4d134fdac896","block_type":"box","text":"√","page_number":114,"box":{"x":421,"y":268,"width":8,"height":8}},{"id":"197f0d07-5755-4ad9-8153-3ac28c807696","block_type":"box","text":"Inflation swaps","page_number":114,"box":{"x":72,"y":286,"width":109,"height":12}},{"id":"6e2a5896-87a4-4714-8622-27018d4ca4f9","block_type":"box","text":"√","page_number":114,"box":{"x":530,"y":287,"width":8,"height":8}},{"id":"7bdb81cc-0c90-4bb4-b584-e313cd49b367","block_type":"box","text":"Cross currency swaps","page_number":114,"box":{"x":72,"y":305,"width":163,"height":11}},{"id":"6bd513ea-1d97-4b05-92b7-b094178c2b2b","block_type":"box","text":"√","page_number":114,"box":{"x":530,"y":305,"width":8,"height":8}},{"id":"a7395c75-d145-4a99-a860-182799a70daf","block_type":"box","text":"Other","page_number":114,"box":{"x":72,"y":323,"width":41,"height":9}},{"id":"6cc419d8-3ec8-40db-88c6-46ff5e954c51","block_type":"box","text":"√","page_number":114,"box":{"x":530,"y":324,"width":8,"height":7}},{"id":"a1f745f4-a0d8-410e-97ad-4988eb01d37d","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":114,"box":{"x":63,"y":351,"width":860,"height":11}},{"id":"f46f17d0-5ccc-4692-b24a-cf2c29f1ac8a","block_type":"box","text":"2)","page_number":114,"box":{"x":62,"y":365,"width":13,"height":11}},{"id":"4850a3f3-0aff-437e-bd84-60b5b69804dc","block_type":"box","text":"Leverage Limits","page_number":114,"box":{"x":63,"y":392,"width":128,"height":11}},{"id":"21e932d6-f238-4fca-9f5c-3b921a1f484d","block_type":"box","text":"(Exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":114,"box":{"x":200,"y":392,"width":722,"height":11}},{"id":"011bf6c0-5bb4-4f4e-87d8-4b57c2f644b0","block_type":"box","text":"Regime):","page_number":114,"box":{"x":63,"y":406,"width":65,"height":11}},{"id":"2fc9cf86-cd56-4a15-9611-982ebca49285","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":114,"box":{"x":62,"y":433,"width":471,"height":11}},{"id":"262c7191-8914-472e-8b74-19e28c7c57a7","block_type":"box","text":"","page_number":114,"box":{"x":62,"y":464,"width":6,"height":5}},{"id":"234eebfe-89d6-4767-8b50-e5a82de830d2","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":114,"box":{"x":92,"y":461,"width":193,"height":11}},{"id":"478f0105-aa2b-43a9-95c8-9db6b60415a3","block_type":"box","text":"","page_number":114,"box":{"x":62,"y":481,"width":6,"height":4}},{"id":"d5c7ed54-c36d-4333-8953-fec634972296","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":114,"box":{"x":92,"y":478,"width":183,"height":11}},{"id":"7b03ed9f-35fd-4df9-86d0-238f7cc25537","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":114,"box":{"x":62,"y":505,"width":860,"height":12}},{"id":"c7ee0411-200e-41d7-af72-dc0df612f036","block_type":"box","text":"which case leverage will not exceed the following:","page_number":114,"box":{"x":62,"y":519,"width":368,"height":11}},{"id":"d3d05e9f-7880-4adb-a205-83d2818123ba","block_type":"box","text":"","page_number":114,"box":{"x":62,"y":550,"width":6,"height":5}},{"id":"a38bd2af-801a-4569-a1aa-562f953151d5","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":114,"box":{"x":92,"y":547,"width":193,"height":11}},{"id":"c1b8e1f4-b86b-40de-8c0b-d2b5c8e8fe97","block_type":"box","text":"","page_number":114,"box":{"x":62,"y":567,"width":6,"height":4}},{"id":"65c23f6c-e78d-49ed-a9f2-7a57e6d84b13","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":114,"box":{"x":92,"y":564,"width":183,"height":11}},{"id":"46e68717-b985-4357-b990-2783af67b1a6","block_type":"box","text":"Specific Risks","page_number":114,"box":{"x":62,"y":591,"width":113,"height":11}},{"id":"6104abb8-17ed-4df1-b109-1ceea106f577","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":114,"box":{"x":181,"y":591,"width":462,"height":11}},{"id":"8ac7be55-6091-4b90-9fdf-641bf08664cb","block_type":"box","text":"","page_number":114,"box":{"x":62,"y":615,"width":6,"height":4}},{"id":"a8e37550-1d29-4d7d-a3b9-263cff21c8d5","block_type":"box","text":"Smaller Companies","page_number":114,"box":{"x":92,"y":612,"width":145,"height":11}},{"id":"eb5ce620-9f41-41de-8a15-40c8413dda80","block_type":"box","text":"","page_number":114,"box":{"x":62,"y":629,"width":6,"height":4}},{"id":"47ee5f8d-d28d-4f21-b329-50ee91a38caf","block_type":"box","text":"Single Market","page_number":114,"box":{"x":92,"y":626,"width":102,"height":11}},{"id":"cd5fe559-5e18-4565-b988-3b151415ccf9","block_type":"box","text":"","page_number":114,"box":{"x":62,"y":644,"width":6,"height":4}},{"id":"2a69d22e-dc93-4910-ac2f-aee7c6a2b22f","block_type":"box","text":"Equity Securities","page_number":114,"box":{"x":93,"y":641,"width":123,"height":11}},{"id":"5dc1f941-59d9-401c-b2c2-bf3e796e3d28","block_type":"box","text":"Past Performance – AI Japan Equity Fund","page_number":114,"box":{"x":72,"y":686,"width":331,"height":11}},{"id":"5e7744b2-bc99-4a26-b404-ebfa3ca62f12","block_type":"box","text":"% Growth","page_number":114,"box":{"x":71,"y":706,"width":77,"height":9}},{"id":"ad911f5f-3dc5-4617-a2a6-ce25163891d6","block_type":"box","text":"1/1/2024 to","page_number":114,"box":{"x":290,"y":732,"width":94,"height":8}},{"id":"4f502002-1355-424f-8254-1668c005c05e","block_type":"box","text":"31/12/2024","page_number":114,"box":{"x":289,"y":744,"width":75,"height":8}},{"id":"7f84381d-fe74-42e4-8dbc-abd7518455ed","block_type":"box","text":"1/1/2023 to","page_number":114,"box":{"x":404,"y":732,"width":94,"height":8}},{"id":"cb0bb27c-8859-4da6-8057-cf0c7500ca35","block_type":"box","text":"31/12/2023","page_number":114,"box":{"x":403,"y":744,"width":75,"height":8}},{"id":"30bf0620-ac03-41ab-8d94-9dc0ca1bf894","block_type":"box","text":"1/1/2022 to","page_number":114,"box":{"x":517,"y":732,"width":94,"height":8}},{"id":"486c86db-c4a5-4181-bb22-69a2ec9422a4","block_type":"box","text":"31/12/2022","page_number":114,"box":{"x":516,"y":744,"width":75,"height":8}},{"id":"1dc268bf-c213-4d01-81ce-600789fa570c","block_type":"box","text":"1/1/2021 to","page_number":114,"box":{"x":631,"y":732,"width":94,"height":8}},{"id":"c1041d58-7f9a-44dd-b10e-89a8b0a3fb10","block_type":"box","text":"31/12/2021","page_number":114,"box":{"x":630,"y":744,"width":73,"height":8}},{"id":"d57658e2-6977-4506-8c66-ea44d843a51e","block_type":"box","text":"1/1/2020 to","page_number":114,"box":{"x":744,"y":732,"width":94,"height":8}},{"id":"703464e5-7d78-40e3-8a15-25c185f6b838","block_type":"box","text":"31/12/2020","page_number":114,"box":{"x":743,"y":744,"width":75,"height":8}},{"id":"c191e730-705c-4833-999e-b9eaa0e1132d","block_type":"box","text":"UK Corporate Income","page_number":114,"box":{"x":72,"y":769,"width":198,"height":10}},{"id":"11443c41-915d-438e-8679-8393db530a78","block_type":"box","text":"Distribution Units (%)","page_number":114,"box":{"x":72,"y":781,"width":140,"height":10}},{"id":"c8ec6ae8-6b99-4009-95f8-18dce8f72fb4","block_type":"box","text":"7.43","page_number":114,"box":{"x":290,"y":769,"width":28,"height":8}},{"id":"6194920f-fe27-44d1-882b-226262aa545d","block_type":"box","text":"6.66","page_number":114,"box":{"x":403,"y":769,"width":29,"height":8}},{"id":"7ca427bd-78b2-4a3b-a472-385165906da6","block_type":"box","text":"-.3.48","page_number":114,"box":{"x":517,"y":769,"width":37,"height":8}},{"id":"b8c46403-158c-4d08-be08-9f2da94a584e","block_type":"box","text":"0.6","page_number":114,"box":{"x":630,"y":769,"width":20,"height":8}},{"id":"6a050939-c4a2-47c9-ade2-f01a5c1bf4de","block_type":"box","text":"9.7","page_number":114,"box":{"x":743,"y":769,"width":20,"height":8}},{"id":"e34b3565-fe8b-47cc-9bca-c1873a2d0a9e","block_type":"box","text":"Insured Pension Income","page_number":114,"box":{"x":72,"y":812,"width":198,"height":8}},{"id":"d5f9f939-91f5-4106-8c8b-7e48cc772c3e","block_type":"box","text":"Distribution Units (%)","page_number":114,"box":{"x":72,"y":824,"width":140,"height":10}},{"id":"b1a52017-1287-40c4-8395-1d25538fc150","block_type":"box","text":"7.69","page_number":114,"box":{"x":290,"y":812,"width":28,"height":8}},{"id":"185208d7-1a0e-4ff9-8f50-c4177fb5a94d","block_type":"box","text":"6.88","page_number":114,"box":{"x":403,"y":812,"width":28,"height":8}},{"id":"693fa30d-817b-4c56-85bf-a4e4ad0bece4","block_type":"box","text":"-3.32","page_number":114,"box":{"x":517,"y":812,"width":33,"height":8}},{"id":"95fe17ac-a257-4a76-bdd0-58bb0c78a64b","block_type":"box","text":"1.2","page_number":114,"box":{"x":631,"y":812,"width":19,"height":8}},{"id":"eaa684ac-e8fc-4afd-80ff-5ea567a9c859","block_type":"box","text":"9.7","page_number":114,"box":{"x":743,"y":812,"width":20,"height":8}},{"id":"fa853ebe-a6e9-4116-a76f-c9fefa4823a2","block_type":"box","text":"UK Institutional Accumulation","page_number":114,"box":{"x":72,"y":855,"width":198,"height":8}},{"id":"5876e3aa-3104-4686-bfe9-83123e7f36b2","block_type":"box","text":"Units (%)","page_number":114,"box":{"x":72,"y":867,"width":60,"height":10}},{"id":"55657bfc-260e-4c6a-9be6-7196ec8bb6d4","block_type":"box","text":"7.40","page_number":114,"box":{"x":290,"y":855,"width":28,"height":8}},{"id":"9fa80005-7e5f-420b-a4ed-7fa1bc0ff2f4","block_type":"box","text":"6.71","page_number":114,"box":{"x":403,"y":855,"width":26,"height":8}},{"id":"2e3f6961-0022-48ca-9cb5-f26f202b75ba","block_type":"box","text":"-3.45","page_number":114,"box":{"x":517,"y":855,"width":33,"height":8}},{"id":"a29b2fbf-d0ee-40f1-ac5f-4122e227e111","block_type":"box","text":"31.3","page_number":114,"box":{"x":630,"y":855,"width":29,"height":8}},{"id":"32533ec3-0804-42da-842e-2d146fa55ebd","block_type":"box","text":"9.6","page_number":114,"box":{"x":743,"y":855,"width":20,"height":8}},{"id":"c76a9577-e426-4443-91a2-6f7f032f67d2","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":115,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"5d0c1c0f-cf6d-48e8-a065-4831cfe3d6f2","block_type":"box","text":"115","page_number":115,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"d48c6ac5-8f21-42aa-8b0a-bc3da2a505b9","block_type":"box","text":"Aviva Investors: Confidential","page_number":115,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"41aa3118-26bb-4fab-9121-e51897cac3bd","block_type":"box","text":"ACS (Fund of Fund)","page_number":115,"box":{"x":71,"y":59,"width":199,"height":10}},{"id":"2ba084af-3c21-4a49-8bca-45aa724b3adf","block_type":"box","text":"Accumulation Units Class 1","page_number":115,"box":{"x":71,"y":71,"width":197,"height":8}},{"id":"ae0dba19-534b-4213-8ede-e397bd0cf072","block_type":"box","text":"(%)","page_number":115,"box":{"x":72,"y":83,"width":21,"height":10}},{"id":"eb68b6d0-017e-4f44-9fe2-3f209d61ef71","block_type":"box","text":"7.66","page_number":115,"box":{"x":290,"y":59,"width":28,"height":8}},{"id":"191f2569-b4b9-472d-a4a0-c449843b84d3","block_type":"box","text":"7.34","page_number":115,"box":{"x":403,"y":59,"width":29,"height":8}},{"id":"01facad3-d781-4c78-8744-f546da20b3ce","block_type":"box","text":"N/A","page_number":115,"box":{"x":517,"y":59,"width":24,"height":8}},{"id":"3fa707fc-23ab-47b9-a89f-3b80c3886a92","block_type":"box","text":"N/A","page_number":115,"box":{"x":631,"y":59,"width":24,"height":8}},{"id":"7a9282ff-63ec-49b3-926d-bc7e544c14e8","block_type":"box","text":"N/A","page_number":115,"box":{"x":744,"y":59,"width":24,"height":8}},{"id":"83594280-9282-47dc-b8bb-744504940274","block_type":"box","text":"ACS (Fund of Fund)","page_number":115,"box":{"x":71,"y":108,"width":199,"height":10}},{"id":"b278c6ee-7473-45bc-8c7e-775efd621b96","block_type":"box","text":"Accumulation Units Class 2","page_number":115,"box":{"x":71,"y":120,"width":199,"height":8}},{"id":"c7467800-c86b-439a-b248-1159d700be31","block_type":"box","text":"(%)","page_number":115,"box":{"x":72,"y":133,"width":21,"height":10}},{"id":"02829a00-50e1-460b-8a08-d202b331c0f0","block_type":"box","text":"7.66","page_number":115,"box":{"x":290,"y":108,"width":28,"height":8}},{"id":"52cdd4d7-9134-407b-9b7e-54ce9d4a1485","block_type":"box","text":"7.34","page_number":115,"box":{"x":403,"y":108,"width":29,"height":8}},{"id":"86e4c230-9e83-4e6c-948e-05fc31f6c44e","block_type":"box","text":"UK Corporate Accumulation","page_number":115,"box":{"x":72,"y":157,"width":198,"height":10}},{"id":"081c56b9-8054-4e66-b49d-9fc88d8b3ec7","block_type":"box","text":"Units (%)","page_number":115,"box":{"x":72,"y":170,"width":60,"height":10}},{"id":"a8d953b0-3221-49c1-b0bf-2010377ab047","block_type":"box","text":"7.50","page_number":115,"box":{"x":290,"y":158,"width":28,"height":7}},{"id":"6433fb4c-83ca-48bf-889c-0e5581b1e092","block_type":"box","text":"6.63","page_number":115,"box":{"x":403,"y":158,"width":29,"height":7}},{"id":"f7f91476-34cf-472d-8dae-25d541784c61","block_type":"box","text":"Insured Pension","page_number":115,"box":{"x":72,"y":201,"width":198,"height":7}},{"id":"b5c53d91-f9e3-4104-85ee-cda416ab6aa3","block_type":"box","text":"Accumulation Units (%)","page_number":115,"box":{"x":71,"y":213,"width":156,"height":10}},{"id":"720e7814-1249-46ad-9655-fc82b340b5a3","block_type":"box","text":"7.66","page_number":115,"box":{"x":290,"y":201,"width":28,"height":7}},{"id":"8fec719f-7c34-4c03-b070-414f70aa4284","block_type":"box","text":"6.92","page_number":115,"box":{"x":403,"y":201,"width":28,"height":7}},{"id":"bc221e87-3349-489b-8564-afbd4fc53752","block_type":"box","text":"UK Fund of Fund","page_number":115,"box":{"x":72,"y":243,"width":198,"height":8}},{"id":"d5b9cc4f-fd5e-464b-bcba-1c67e974a2c3","block_type":"box","text":"Accumulation Units (%)","page_number":115,"box":{"x":71,"y":256,"width":156,"height":10}},{"id":"8098e875-6bd7-4d0f-8e19-926de163243a","block_type":"box","text":"9.25","page_number":115,"box":{"x":290,"y":244,"width":28,"height":8}},{"id":"ec4f99a7-9837-47f5-869f-f0a281d66141","block_type":"box","text":"8.58","page_number":115,"box":{"x":403,"y":244,"width":28,"height":8}},{"id":"8bf6c1a7-7f8e-4095-8122-2507813743e1","block_type":"box","text":"-3.53","page_number":115,"box":{"x":517,"y":244,"width":33,"height":8}},{"id":"d66ef360-cb16-4876-9aac-b1c9824cc3cb","block_type":"box","text":"N/A","page_number":115,"box":{"x":631,"y":243,"width":24,"height":9}},{"id":"39606961-a259-479b-b641-1793621db754","block_type":"box","text":"N/A","page_number":115,"box":{"x":744,"y":243,"width":24,"height":9}},{"id":"5e53cabe-1517-4bbd-8a42-f3b09eb43892","block_type":"box","text":"Index - Total Return TOPIX®","page_number":115,"box":{"x":72,"y":289,"width":201,"height":8}},{"id":"cf7e35c0-c3a4-433e-84d2-b2e102fd172d","block_type":"box","text":"converted to GBP","page_number":115,"box":{"x":72,"y":302,"width":120,"height":8}},{"id":"c2dc082a-0892-4050-ba24-11f24688779f","block_type":"box","text":"20.45","page_number":115,"box":{"x":289,"y":290,"width":39,"height":7}},{"id":"e847499e-fbb6-4e5c-a5ab-fef1af0ff90c","block_type":"box","text":"13.27","page_number":115,"box":{"x":406,"y":290,"width":36,"height":7}},{"id":"287a996b-5273-47b7-a86f-ad54459b3fd7","block_type":"box","text":"-4.14","page_number":115,"box":{"x":517,"y":290,"width":34,"height":7}},{"id":"7874eafa-1ebd-4fc0-8911-cfb03d807c60","block_type":"box","text":"2.0","page_number":115,"box":{"x":630,"y":290,"width":21,"height":7}},{"id":"28ecdf80-8641-47e3-b630-0cbda32eb7e1","block_type":"box","text":"9.5","page_number":115,"box":{"x":744,"y":290,"width":21,"height":7}},{"id":"f3aeb8ed-e158-42ad-8e7e-d9359aac8b8e","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":116,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"06633be2-5163-48ae-9528-884c0d34a717","block_type":"box","text":"116","page_number":116,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"36db3805-7621-4b14-acaf-9e7e9ed83761","block_type":"box","text":"Aviva Investors: Confidential","page_number":116,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"58d205db-8709-40f1-9ab9-a5b7137183dc","block_type":"box","text":"AI Asia Pacific ex Japan Fund","page_number":116,"box":{"x":62,"y":53,"width":236,"height":11}},{"id":"a70b40fa-e9d6-43ff-9bc1-e89b5b0d55b3","block_type":"box","text":"FCA product reference number: 658310","page_number":116,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"5ab555cd-6e69-4e22-8d4b-6eb55fe2c643","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":116,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"95348e2c-a96a-4e6f-8ce9-7d3f82ab4e73","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":116,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"3f5de242-c921-47e8-9267-9459be452cb8","block_type":"box","text":"Investment Objective and Policy","page_number":116,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"13c36327-656a-402e-b82b-397f622ccaf1","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of companies","page_number":116,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"b4acbf0d-87ec-476d-8661-bb890d6c54b5","block_type":"box","text":"in the Asia-Pacific region, excluding Japan.","page_number":116,"box":{"x":62,"y":197,"width":318,"height":12}},{"id":"8943119b-6d30-40e5-9ba0-4d67d9eaea95","block_type":"box","text":"Core investment:","page_number":116,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"e1e00149-8a94-4bf3-a110-75ff05e813db","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of companies which are domiciled or incorporated in the Asia","page_number":116,"box":{"x":62,"y":236,"width":861,"height":12}},{"id":"333a782f-5d0a-470c-8799-c455d070d7d8","block_type":"box","text":"Pacific region (including emerging markets), which includes Australia but excludes Japan.","page_number":116,"box":{"x":63,"y":250,"width":662,"height":11}},{"id":"a91bb845-5921-44e3-9c29-d5d9938bff71","block_type":"box","text":"Other investments:","page_number":116,"box":{"x":62,"y":270,"width":151,"height":9}},{"id":"f18758f9-58e8-4e1a-bf07-fadd0940effa","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by the Investment Manager),","page_number":116,"box":{"x":62,"y":289,"width":860,"height":12}},{"id":"c1665d19-ab21-474e-8eb1-5faf2887bbdd","block_type":"box","text":"derivatives, cash and deposits.","page_number":116,"box":{"x":62,"y":303,"width":228,"height":11}},{"id":"ee57bd76-cee6-4de0-b8ba-f4af79394a90","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":116,"box":{"x":63,"y":323,"width":860,"height":11}},{"id":"e156264c-b5c9-4c02-8a34-4b9e4f471f73","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":116,"box":{"x":62,"y":336,"width":861,"height":12}},{"id":"c4f0b532-81a3-4b18-8be2-9cbca4d97da9","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":116,"box":{"x":62,"y":350,"width":545,"height":11}},{"id":"0dd31f49-602c-433c-9326-4ec9e85723ab","block_type":"box","text":"Strategy:","page_number":116,"box":{"x":62,"y":369,"width":70,"height":12}},{"id":"feec8aca-59fa-4283-b50c-cd21ec1dc3d7","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager aims to achieve the Sub-Fund’s objective by","page_number":116,"box":{"x":62,"y":389,"width":861,"height":11}},{"id":"b9321d14-2911-422f-90b9-adf1dfa8d542","block_type":"box","text":"constructing a portfolio of stocks in the Asia Pacific regions, excluding Japan, with a focus on companies that grow","page_number":116,"box":{"x":62,"y":403,"width":861,"height":11}},{"id":"3617997d-4016-404f-a369-7e384db5aef1","block_type":"box","text":"shareholder value, where their return on invested capital exceeds weighted average cost of capital or displays a","page_number":116,"box":{"x":62,"y":416,"width":861,"height":12}},{"id":"ee9d3dcf-d9da-49aa-bc46-526b9a421511","block_type":"box","text":"sustainable long-term positive trend. The Investment Manager believes these companies will outperform their peers","page_number":116,"box":{"x":62,"y":430,"width":861,"height":11}},{"id":"709cd89e-e854-47eb-83ab-57ff6531c921","block_type":"box","text":"and generate positive shareholder returns over the medium to long term.","page_number":116,"box":{"x":62,"y":444,"width":536,"height":11}},{"id":"8cafe76f-8b66-4c2a-a1b5-4f500d894526","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":116,"box":{"x":62,"y":463,"width":527,"height":12}},{"id":"a52ce453-876b-4aee-9ac6-d9b2d0093ecf","block_type":"box","text":"please see Appendix 2 for information on","page_number":116,"box":{"x":594,"y":464,"width":328,"height":11}},{"id":"12029506-0bd3-4a46-b578-c50bd6cf06f9","block_type":"box","text":"these limited investment restrictions","page_number":116,"box":{"x":62,"y":477,"width":291,"height":9}},{"id":"759c8d56-be6b-44e4-a674-831df1cfa334","block_type":"box","text":".","page_number":116,"box":{"x":355,"y":485,"width":2,"height":1}},{"id":"1b640706-a124-4740-a17f-2967c753428e","block_type":"box","text":"Performance & Risk Measurement:","page_number":116,"box":{"x":63,"y":497,"width":275,"height":9}},{"id":"51bf8421-4519-43a4-a90e-3fcd6267f1bc","block_type":"box","text":"The Sub-Fund’s performance is compared against the MSCI® All Country Asia Pacific ex Japan Total Return GBP","page_number":116,"box":{"x":62,"y":516,"width":861,"height":11}},{"id":"b76d8492-e7c5-4099-a390-22b53ef27c21","block_type":"box","text":"Index (the “Index”)","page_number":116,"box":{"x":63,"y":530,"width":134,"height":11}},{"id":"03954ef1-ee51-442d-b667-a04d131e682a","block_type":"box","text":"□","page_number":116,"box":{"x":199,"y":531,"width":5,"height":4}},{"id":"1a10ef42-b6cb-43f8-9f7b-e795b5889bec","block_type":"box","text":".","page_number":116,"box":{"x":207,"y":537,"width":2,"height":2}},{"id":"0673fed1-dfb2-4cb0-90c2-8b035f3e75e9","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":116,"box":{"x":62,"y":549,"width":860,"height":12}},{"id":"fdd97cad-9a90-4b21-bfb3-adfa6095cc69","block_type":"box","text":"may also hold companies that do not form part of it.","page_number":116,"box":{"x":62,"y":563,"width":380,"height":11}},{"id":"0cfd415c-ab09-45c2-a2af-5bfbf95310a1","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":116,"box":{"x":62,"y":583,"width":861,"height":11}},{"id":"5415e4e4-3ff5-48ab-97f8-d2e5042d603b","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":116,"box":{"x":63,"y":596,"width":859,"height":12}},{"id":"7b6bc983-9ab9-4e4f-9c4d-bfedbd71fa3d","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2% and 5% when","page_number":116,"box":{"x":62,"y":610,"width":860,"height":11}},{"id":"1f642098-24a8-499e-8156-fd4f74569026","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":116,"box":{"x":62,"y":624,"width":650,"height":11}},{"id":"6844dfba-8849-4303-8ff3-32de79777683","block_type":"box","text":"The Index represents developed and emerging markets in the Asia Pacific region and consists of large and medium","page_number":116,"box":{"x":62,"y":643,"width":860,"height":12}},{"id":"350425a8-b1b7-4e47-af02-ec95fcde1b67","block_type":"box","text":"sized companies, as defined by their market capitalisation (total market value of a company’s outstanding shares).","page_number":116,"box":{"x":62,"y":657,"width":845,"height":11}},{"id":"9be2e5fb-5a43-4a72-aba4-5bce569a1b87","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":116,"box":{"x":62,"y":677,"width":861,"height":11}},{"id":"4aa3cfae-9654-4bc6-b844-20bd77a33704","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest and it is therefore an appropriate comparator for the","page_number":116,"box":{"x":62,"y":690,"width":861,"height":11}},{"id":"baae3202-15a4-448b-86e2-bf59fcf5c401","block_type":"box","text":"Sub-Fund’s performance.","page_number":116,"box":{"x":62,"y":704,"width":187,"height":11}},{"id":"cec0faf9-018a-47cc-8f71-3e76445554c1","block_type":"box","text":"Additional Information","page_number":116,"box":{"x":62,"y":724,"width":177,"height":8}},{"id":"f0daaaee-29f7-42aa-8090-13454a66c605","block_type":"box","text":"Investment Manager","page_number":116,"box":{"x":118,"y":750,"width":151,"height":11}},{"id":"efcbe570-55fa-49c0-bf4d-6175fc3e5adf","block_type":"box","text":"Schroder Investment Management Limited","page_number":116,"box":{"x":353,"y":750,"width":315,"height":11}},{"id":"c14ef7b0-ddb7-4873-b900-945c5a5b8ef1","block_type":"box","text":"Type of Units","page_number":116,"box":{"x":116,"y":776,"width":98,"height":11}},{"id":"e633d3cd-9a95-4fb9-b441-9e8ac1844006","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":116,"box":{"x":353,"y":776,"width":292,"height":11}},{"id":"e92d5de1-15a9-44c8-b0ab-3f2b628a20ac","block_type":"box","text":"UK Corporate Accumulation Units","page_number":116,"box":{"x":353,"y":802,"width":250,"height":11}},{"id":"effbe4b1-d00a-4582-8973-6ef35def50c7","block_type":"box","text":"Insured Pension Accumulation Units","page_number":116,"box":{"x":354,"y":828,"width":267,"height":9}},{"id":"9fc6b394-0306-4607-9ed1-493e8d81e11f","block_type":"box","text":"Insured Pension Income Distribution Units","page_number":116,"box":{"x":354,"y":854,"width":310,"height":9}},{"id":"0dde13c5-50c0-43b4-ada0-f64d47b1f1c7","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 1)","page_number":116,"box":{"x":352,"y":880,"width":369,"height":11}},{"id":"bc4b5f93-3818-496b-bfb8-8297c0ddda93","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 2)","page_number":116,"box":{"x":352,"y":906,"width":369,"height":11}},{"id":"00cc340f-45a0-4822-8222-96a6e2a46390","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":117,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"c679d560-3e07-4f15-9924-f23cc7a99f87","block_type":"box","text":"117","page_number":117,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"a36e28f7-5181-4eb1-b105-6daefe1edbc2","block_type":"box","text":"Aviva Investors: Confidential","page_number":117,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"63dc1f8a-9358-4be5-aad5-e6d0babc5ae0","block_type":"box","text":"UK Institutional Accumulation Units","page_number":117,"box":{"x":353,"y":59,"width":260,"height":9}},{"id":"638316b1-65d8-4780-8f7d-36af0a5b303e","block_type":"box","text":"Dealing Day","page_number":117,"box":{"x":118,"y":85,"width":89,"height":11}},{"id":"75e12b08-7cfe-437e-8ba4-22414f9d46b2","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":117,"box":{"x":354,"y":85,"width":393,"height":11}},{"id":"eafb222b-6f24-4402-b871-5483965ad4a7","block_type":"box","text":"Deal Cut-Off Point","page_number":117,"box":{"x":118,"y":111,"width":134,"height":9}},{"id":"4f3dd104-c853-4275-86a0-f1ed1cb78e19","block_type":"box","text":"2.00 p.m.","page_number":117,"box":{"x":353,"y":112,"width":67,"height":10}},{"id":"c97cb8b7-2381-42f1-b582-379445adb9aa","block_type":"box","text":"Valuation Point","page_number":117,"box":{"x":117,"y":138,"width":112,"height":8}},{"id":"10ea5a4f-fbfe-43eb-a322-26475bbecb97","block_type":"box","text":"3.00 p.m.","page_number":117,"box":{"x":353,"y":138,"width":67,"height":11}},{"id":"ed0e32b6-38a4-4d1f-943c-7f0351a5b81b","block_type":"box","text":"*Minimum Investment","page_number":117,"box":{"x":117,"y":164,"width":172,"height":8}},{"id":"3e899a2a-cb8e-4f16-9e24-5575e50c15b6","block_type":"box","text":"UK Corporate Income","page_number":117,"box":{"x":118,"y":189,"width":160,"height":12}},{"id":"cacc104b-748a-4aae-bbe0-6fd5fd8ab540","block_type":"box","text":"Distribution Units, UK","page_number":117,"box":{"x":118,"y":204,"width":158,"height":10}},{"id":"b032327f-aa0e-4f66-80b5-0499b116c7f5","block_type":"box","text":"Corporate Accumulation","page_number":117,"box":{"x":117,"y":217,"width":178,"height":11}},{"id":"aebc5663-04e0-42b1-90a8-a002b0465f0f","block_type":"box","text":"Units, Insured Pension","page_number":117,"box":{"x":118,"y":231,"width":166,"height":10}},{"id":"f01e5589-6380-4d08-aa8b-ac9b886f34ae","block_type":"box","text":"Accumulation, Insured","page_number":117,"box":{"x":116,"y":244,"width":165,"height":11}},{"id":"b7d1107d-972a-4c80-8a33-40b4e9aa1e2b","block_type":"box","text":"Pension Income Distribution","page_number":117,"box":{"x":118,"y":258,"width":206,"height":9}},{"id":"d1a9f9fa-326f-43eb-9d2d-2837cd9b45e1","block_type":"box","text":"Units, UK Institutional","page_number":117,"box":{"x":118,"y":272,"width":158,"height":10}},{"id":"2da0df12-babd-4130-8e42-e946f311e313","block_type":"box","text":"Accumulation Units, ACS","page_number":117,"box":{"x":116,"y":285,"width":187,"height":11}},{"id":"3b5fd790-93c4-4a75-ae9c-bf3e17a14cfe","block_type":"box","text":"(Fund of Fund) Accumulation","page_number":117,"box":{"x":117,"y":299,"width":215,"height":11}},{"id":"1231bd73-7f4b-42fa-ab9a-a985e810f4ee","block_type":"box","text":"Units (Class 1), ACS (Fund","page_number":117,"box":{"x":118,"y":312,"width":200,"height":12}},{"id":"53167b16-91cd-41de-8157-791e0176c382","block_type":"box","text":"of Fund) Accumulation Units","page_number":117,"box":{"x":117,"y":326,"width":210,"height":11}},{"id":"a2113a6e-354e-4cf3-8847-abf0d92f58b0","block_type":"box","text":"(Class 2)","page_number":117,"box":{"x":117,"y":340,"width":65,"height":11}},{"id":"69a4e2fc-f346-425a-9642-68120183d117","block_type":"box","text":"No minimum","page_number":117,"box":{"x":353,"y":190,"width":92,"height":8}},{"id":"2646f5be-625a-4b87-8c81-47c0df325749","block_type":"box","text":"Minimum withdrawal","page_number":117,"box":{"x":117,"y":366,"width":150,"height":9}},{"id":"3f085c86-753a-4c0f-a487-3f405db99cbb","block_type":"box","text":"No minimum","page_number":117,"box":{"x":353,"y":366,"width":92,"height":9}},{"id":"2c2269cd-3a3a-45bd-bb99-eda93b34c353","block_type":"box","text":"Tax Criteria for investment","page_number":117,"box":{"x":116,"y":392,"width":213,"height":9}},{"id":"0a48ed8f-9802-4371-8757-2c12512d391c","block_type":"box","text":"UK Corporate Income","page_number":117,"box":{"x":118,"y":418,"width":160,"height":11}},{"id":"dae1328c-679b-433f-b1cd-ca0d7f675f26","block_type":"box","text":"Distribution Units","page_number":117,"box":{"x":118,"y":432,"width":124,"height":9}},{"id":"87d63977-c401-44b6-bc41-1b4eb29c5e78","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":117,"box":{"x":352,"y":418,"width":404,"height":11}},{"id":"2a97e632-f116-418d-8ffb-104b6a439258","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":117,"box":{"x":353,"y":432,"width":404,"height":11}},{"id":"44a57121-9c94-499f-8e5a-e2fdf122ac76","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":117,"box":{"x":352,"y":446,"width":405,"height":11}},{"id":"a7122188-424d-471c-b17e-c7a33c508acc","block_type":"box","text":"linked pension business contracts.","page_number":117,"box":{"x":353,"y":459,"width":253,"height":11}},{"id":"4740074c-5bb7-499e-9923-53beee571304","block_type":"box","text":"UK Corporate Accumulation","page_number":117,"box":{"x":118,"y":485,"width":205,"height":11}},{"id":"fed704a4-35dc-4d02-9b07-c8490d49c54f","block_type":"box","text":"Units","page_number":117,"box":{"x":118,"y":499,"width":36,"height":9}},{"id":"f5fed8d0-82ec-4d88-875f-f7a45e8206f7","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":117,"box":{"x":352,"y":485,"width":404,"height":11}},{"id":"a16b51f3-2dfa-49c0-ae0b-7c900b2733c3","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":117,"box":{"x":353,"y":499,"width":404,"height":11}},{"id":"bdff8800-d7e3-42b9-ad3c-9f9609ff0b62","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":117,"box":{"x":352,"y":513,"width":405,"height":11}},{"id":"c7ef2fb7-ce6e-4f27-8c6f-c7b667f41b4e","block_type":"box","text":"linked pension business contracts.","page_number":117,"box":{"x":353,"y":526,"width":253,"height":11}},{"id":"311cf8b6-2c75-44ff-8a6f-b52d92242bab","block_type":"box","text":"Insured Pension","page_number":117,"box":{"x":118,"y":553,"width":118,"height":8}},{"id":"ea7d324d-7041-4008-bb83-2bf097cfa9e0","block_type":"box","text":"Accumulation Units","page_number":117,"box":{"x":116,"y":566,"width":143,"height":9}},{"id":"da528871-cef1-4285-a73b-fae396efebd6","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":117,"box":{"x":352,"y":552,"width":404,"height":12}},{"id":"93199011-3eb0-4710-8ae2-653d2b017de2","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":117,"box":{"x":353,"y":566,"width":404,"height":11}},{"id":"08f9dae8-140c-4a50-9b50-85f8650c85dd","block_type":"box","text":"back exclusively its unit linked pension business","page_number":117,"box":{"x":353,"y":580,"width":404,"height":11}},{"id":"ab01d5a0-65e3-415c-959d-7e47f7853989","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":117,"box":{"x":353,"y":593,"width":404,"height":12}},{"id":"9d6768e6-0448-486b-ac67-9b60f8a0b480","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":117,"box":{"x":353,"y":607,"width":307,"height":11}},{"id":"0a5a1766-fd1d-45ab-95c6-03563efb7bb2","block_type":"box","text":"Insured Pension Income","page_number":117,"box":{"x":118,"y":633,"width":179,"height":9}},{"id":"37799e53-0d72-479d-9e28-75e8042d240a","block_type":"box","text":"Distribution Units","page_number":117,"box":{"x":118,"y":647,"width":124,"height":9}},{"id":"969b1caa-23e3-4163-a872-ed607a6b473a","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":117,"box":{"x":352,"y":633,"width":404,"height":11}},{"id":"279a9b5e-1871-4cc1-84dd-f3385e299e61","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":117,"box":{"x":353,"y":647,"width":404,"height":11}},{"id":"eaecc678-4923-4da1-961c-50308314c601","block_type":"box","text":"back exclusively its unit linked pension business","page_number":117,"box":{"x":353,"y":661,"width":404,"height":11}},{"id":"271a6ec7-8c87-4c3d-b5c2-b51a56d80b7e","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":117,"box":{"x":353,"y":674,"width":404,"height":11}},{"id":"dd49a57a-af90-4d47-82ba-c43bad03722d","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":117,"box":{"x":353,"y":688,"width":307,"height":11}},{"id":"f0284200-335a-4477-86d2-78e67e7c5c20","block_type":"box","text":"UK Institutional","page_number":117,"box":{"x":118,"y":714,"width":110,"height":9}},{"id":"024f034a-f3ab-4c50-8533-c847fab4690f","block_type":"box","text":"Accumulation Units","page_number":117,"box":{"x":116,"y":728,"width":143,"height":9}},{"id":"9643ab6f-45d8-4073-8e79-385be151f11a","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":117,"box":{"x":352,"y":714,"width":404,"height":11}},{"id":"73f35d0a-f5c7-46b1-bd0d-74acf57c4cbc","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":117,"box":{"x":353,"y":728,"width":403,"height":11}},{"id":"c93d0c84-7c6b-45b2-9d6f-191aa74e527e","block_type":"box","text":"tax treaties.","page_number":117,"box":{"x":352,"y":742,"width":85,"height":8}},{"id":"654dfab3-1183-452e-b02c-d509a8b96184","block_type":"box","text":"ACS (Fund of Fund)","page_number":117,"box":{"x":116,"y":773,"width":149,"height":11}},{"id":"8ef050ad-91e0-42d4-9a92-a7532cca873a","block_type":"box","text":"Accumulation Units (Class","page_number":117,"box":{"x":116,"y":787,"width":195,"height":11}},{"id":"1bd24bfa-89e0-4b2a-9ed9-3efa7c8a9502","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":117,"box":{"x":118,"y":801,"width":171,"height":11}},{"id":"d017b199-ac32-4b53-8eb7-fd9b4ecd0ecd","block_type":"box","text":"Accumulation Units (Class 2)","page_number":117,"box":{"x":116,"y":814,"width":215,"height":11}},{"id":"dfa433df-7808-4aee-ace2-fe00292aa8df","block_type":"box","text":"A sub-fund of a UK authorised contractual scheme.","page_number":117,"box":{"x":352,"y":773,"width":378,"height":9}},{"id":"43d3e658-da27-4554-a028-0492e3d33501","block_type":"box","text":"**Current Charges:","page_number":117,"box":{"x":117,"y":840,"width":149,"height":12}},{"id":"96851a35-0c58-4e7c-98b5-9cf59af081ad","block_type":"box","text":"UK Corporate Income","page_number":117,"box":{"x":118,"y":866,"width":160,"height":12}},{"id":"5f3d124a-73a4-465d-b926-b73435df0eb3","block_type":"box","text":"Distribution Units, UK","page_number":117,"box":{"x":118,"y":880,"width":158,"height":11}},{"id":"8d9d429f-7c86-4cc6-9c37-f9d5de24c930","block_type":"box","text":"Corporate Accumulation","page_number":117,"box":{"x":117,"y":894,"width":178,"height":11}},{"id":"8108fa25-7e40-427f-999a-ade5bc5a4662","block_type":"box","text":"Units, Insured Pension","page_number":117,"box":{"x":118,"y":908,"width":166,"height":10}},{"id":"7b4100c1-1b44-49e1-83d8-2252228c0557","block_type":"box","text":"Accumulation Units, Insured","page_number":117,"box":{"x":116,"y":921,"width":208,"height":11}},{"id":"4cfd9439-5955-4848-a537-a2e96d6f80c9","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":117,"box":{"x":352,"y":866,"width":404,"height":12}},{"id":"080bbfe1-13ce-46f3-9c87-a21aa2f42c99","block_type":"box","text":"Unitholder ***","page_number":117,"box":{"x":353,"y":880,"width":99,"height":9}},{"id":"25114ffd-ddfd-457b-8274-5b271569742f","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":117,"box":{"x":352,"y":900,"width":404,"height":11}},{"id":"cb5c889a-1da8-478f-9614-db474ddc2f75","block_type":"box","text":"property","page_number":117,"box":{"x":353,"y":914,"width":60,"height":11}},{"id":"45771d55-47af-45a7-ae0c-124d79d5984e","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":118,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"42213bb8-1902-4142-a499-2d64f6805bee","block_type":"box","text":"118","page_number":118,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"02c2d781-5529-40c1-8d69-97f2729d4de1","block_type":"box","text":"Aviva Investors: Confidential","page_number":118,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"c164c55f-d2fb-4c21-8674-6602c678df9b","block_type":"box","text":"Pension Income Distribution","page_number":118,"box":{"x":118,"y":53,"width":206,"height":9}},{"id":"881a402e-0205-4183-a1da-25780b2e2f9b","block_type":"box","text":"Units, UK Institutional","page_number":118,"box":{"x":118,"y":67,"width":158,"height":10}},{"id":"0e7914cc-1865-4fe4-a66a-02e030c97cc0","block_type":"box","text":"Accumulation Units, ACS","page_number":118,"box":{"x":116,"y":80,"width":187,"height":11}},{"id":"293e472d-812b-4acb-a571-d55ac089afc4","block_type":"box","text":"(Fund of Fund) Accumulation","page_number":118,"box":{"x":117,"y":94,"width":215,"height":11}},{"id":"11629bc3-11a7-4c1b-983e-815538caa9ad","block_type":"box","text":"Units (Class 1), ACS (Fund","page_number":118,"box":{"x":118,"y":108,"width":200,"height":11}},{"id":"fe235a2d-84da-4541-8981-a7c1c41261f9","block_type":"box","text":"of Fund) Accumulation Units","page_number":118,"box":{"x":117,"y":121,"width":210,"height":11}},{"id":"6c47854f-2a79-42f9-927e-efa5069d6198","block_type":"box","text":"(Class 2)","page_number":118,"box":{"x":117,"y":135,"width":65,"height":11}},{"id":"5e7da804-4fb1-4f11-a2f6-c820022989ef","block_type":"box","text":"Accounting Dates","page_number":118,"box":{"x":117,"y":161,"width":141,"height":11}},{"id":"1bcbf447-d59f-480c-b496-7dd397e44a63","block_type":"box","text":"Annual Accounting Date","page_number":118,"box":{"x":116,"y":188,"width":180,"height":11}},{"id":"2aa1fee7-4df8-430d-b729-89ffa9a4f1e1","block_type":"box","text":"31 December","page_number":118,"box":{"x":353,"y":188,"width":100,"height":8}},{"id":"9590fb42-0858-4cf1-85dc-0bf5d066d3a5","block_type":"box","text":"First Accounting Date","page_number":118,"box":{"x":118,"y":214,"width":158,"height":11}},{"id":"a4a52e53-207e-41f2-b1c3-173be1ad43f6","block_type":"box","text":"31 December 2015","page_number":118,"box":{"x":353,"y":214,"width":141,"height":8}},{"id":"5e339ab1-1142-4478-b2e9-5f4f8115cf1f","block_type":"box","text":"Annual Income Allocation","page_number":118,"box":{"x":116,"y":240,"width":188,"height":8}},{"id":"8b14919a-c552-4454-91f1-19128fe15fec","block_type":"box","text":"Date","page_number":118,"box":{"x":118,"y":253,"width":33,"height":9}},{"id":"781c0e05-198a-4b9a-85aa-f2e25384e100","block_type":"box","text":"On or before 28 /29 February","page_number":118,"box":{"x":353,"y":239,"width":217,"height":12}},{"id":"921bc95a-421e-40a6-8ac8-000af3fb3b3f","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":118,"box":{"x":118,"y":279,"width":293,"height":12}},{"id":"e7c57a7f-033b-44a4-99d7-a27677740bed","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":118,"box":{"x":62,"y":305,"width":861,"height":12}},{"id":"9939152d-f71f-4049-b842-a9162a379275","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":118,"box":{"x":62,"y":319,"width":408,"height":11}},{"id":"fb86202c-fa76-4555-905a-10d6c8c44141","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":118,"box":{"x":62,"y":339,"width":642,"height":11}},{"id":"35878b43-de76-4ce4-be0a-95c77dd4c814","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":118,"box":{"x":62,"y":358,"width":860,"height":12}},{"id":"cc70e700-139e-42b0-ab28-517618667308","block_type":"box","text":"this Prospectus.","page_number":118,"box":{"x":62,"y":372,"width":117,"height":11}},{"id":"827fa765-8ddf-4f54-a2aa-f2d373d44449","block_type":"box","text":"*** In certain circumstances where one Sub-Fund of the Scheme invests in Units of another, the ACS Management","page_number":118,"box":{"x":62,"y":399,"width":861,"height":12}},{"id":"643d8654-3bf1-4aa8-89f2-ab3bf2defaed","block_type":"box","text":"charge will not be charged to the investing Sub-Fund. Further information is provided at paragraph 5.8 of Appendix 6","page_number":118,"box":{"x":62,"y":413,"width":861,"height":11}},{"id":"e960a46e-90af-44db-91bb-9ee90206dd98","block_type":"box","text":"below.","page_number":118,"box":{"x":62,"y":427,"width":46,"height":8}},{"id":"50f38d7d-3d23-4914-8f52-7eb5c0261d8f","block_type":"box","text":"□","page_number":118,"box":{"x":62,"y":455,"width":5,"height":4}},{"id":"2e51908c-4edb-46a7-88c7-a8c0d84c7e68","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":118,"box":{"x":74,"y":454,"width":342,"height":9}},{"id":"d6d2b32c-dd70-4930-a24c-9108dc61b6b8","block_type":"box","text":"Securities Financing and other Transactions:","page_number":118,"box":{"x":62,"y":487,"width":358,"height":11}},{"id":"37fa496b-cde9-4245-bdb1-a0ae64e680ef","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":118,"box":{"x":62,"y":507,"width":860,"height":11}},{"id":"86631b64-9d7e-4781-aed8-8fe32661e032","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":118,"box":{"x":62,"y":520,"width":438,"height":12}},{"id":"0adc5143-be87-4c2c-81ee-39adaa05a941","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":118,"box":{"x":62,"y":560,"width":861,"height":11}},{"id":"bfd6ffbf-f200-4cec-bab5-92b1d0b7e779","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":118,"box":{"x":62,"y":573,"width":860,"height":11}},{"id":"a7689ef4-4bcc-4f70-804a-2e2474a1e13e","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":118,"box":{"x":62,"y":587,"width":861,"height":11}},{"id":"7ca8d0d9-0bcd-4ded-9c86-420b38d3ac42","block_type":"box","text":"15%.","page_number":118,"box":{"x":63,"y":601,"width":35,"height":8}},{"id":"6ccf3302-1dfc-477a-863b-b013611893d3","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":118,"box":{"x":62,"y":640,"width":860,"height":11}},{"id":"11b20c1e-e235-4bc6-9756-172cb3537dea","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":118,"box":{"x":62,"y":653,"width":860,"height":12}},{"id":"2c9b0111-728f-4ea1-80dd-504630526110","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":118,"box":{"x":62,"y":667,"width":861,"height":11}},{"id":"a77af1c4-1530-4ed3-b06f-2a4d81bcc065","block_type":"box","text":"is zero.","page_number":118,"box":{"x":62,"y":681,"width":52,"height":9}},{"id":"3d19b883-a96c-4565-b203-6652110d6a00","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":118,"box":{"x":62,"y":739,"width":249,"height":9}},{"id":"c6c754b1-5f40-49a8-b6c0-670e02b446bb","block_type":"box","text":"Leverage","page_number":118,"box":{"x":63,"y":779,"width":72,"height":11}},{"id":"939dc956-1fa0-4d5b-bfba-c273d9fd3c95","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":118,"box":{"x":63,"y":798,"width":860,"height":11}},{"id":"afd07c98-33da-49d8-b16d-0b2cbe6e729a","block_type":"box","text":"management.","page_number":118,"box":{"x":62,"y":813,"width":101,"height":10}},{"id":"e338eec4-33e4-4294-b818-bd78419d020a","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":118,"box":{"x":62,"y":845,"width":860,"height":11}},{"id":"7bf79d28-6ad8-4b34-b113-6ced3e5c387c","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":118,"box":{"x":62,"y":859,"width":649,"height":11}},{"id":"db462b2b-b51f-4d30-bb47-2b1d2769c462","block_type":"box","text":"All transactions in derivatives are fully covered, and are not used as a means of gearing the Sub-Fund.","page_number":118,"box":{"x":62,"y":886,"width":760,"height":11}},{"id":"b4d7ba76-7ea3-45dc-8320-520a1ec83ef4","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":119,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"e7d909dd-7b92-4982-94bb-47910838a5c0","block_type":"box","text":"119","page_number":119,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"3d23d9c0-8a1a-411d-9470-6f96177a4788","block_type":"box","text":"Aviva Investors: Confidential","page_number":119,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"73d5a640-25e3-40da-9879-6677c56a8a2b","block_type":"box","text":"Permitted derivatives","page_number":119,"box":{"x":72,"y":69,"width":168,"height":9}},{"id":"3d381073-45cd-4871-8925-28f94688844b","block_type":"box","text":"Permitted?","page_number":119,"box":{"x":383,"y":69,"width":85,"height":9}},{"id":"ea201810-dff7-471f-92e8-df79a4e22390","block_type":"box","text":"Prohibited?","page_number":119,"box":{"x":489,"y":69,"width":91,"height":9}},{"id":"5b792a99-d0c0-460f-9a7d-ce2144d015f2","block_type":"box","text":"Equity index futures","page_number":119,"box":{"x":72,"y":89,"width":146,"height":12}},{"id":"04acb48d-b0ef-4e17-aab2-502fdab2a64d","block_type":"box","text":"√","page_number":119,"box":{"x":421,"y":90,"width":8,"height":7}},{"id":"7dcd80aa-a6f3-4c91-8993-071d37798cb3","block_type":"box","text":"Government bond futures","page_number":119,"box":{"x":72,"y":108,"width":188,"height":9}},{"id":"9aee21ea-825a-4340-b95f-83a1bf891d13","block_type":"box","text":"√","page_number":119,"box":{"x":530,"y":108,"width":8,"height":8}},{"id":"3a394dd8-92ef-4088-b409-4fffa8a26ee0","block_type":"box","text":"Equity index options","page_number":119,"box":{"x":72,"y":126,"width":148,"height":11}},{"id":"62bba989-8920-4982-8890-340a1db9aae7","block_type":"box","text":"√","page_number":119,"box":{"x":421,"y":127,"width":8,"height":7}},{"id":"27c890c1-f525-4eb6-82af-7c5bc450b8ba","block_type":"box","text":"Forward foreign exchange","page_number":119,"box":{"x":72,"y":145,"width":193,"height":11}},{"id":"b151df41-ca97-433a-aedc-b04fa7686e61","block_type":"box","text":"√","page_number":119,"box":{"x":421,"y":145,"width":8,"height":8}},{"id":"1dfc21f6-e892-4f3f-b208-f340cb303d88","block_type":"box","text":"Index credit default swaps","page_number":119,"box":{"x":72,"y":163,"width":192,"height":11}},{"id":"8da69039-91f0-4375-8409-4b0672ff146a","block_type":"box","text":"√","page_number":119,"box":{"x":530,"y":163,"width":8,"height":8}},{"id":"605b2e60-5b6c-43d7-a6d4-c6c332cbecca","block_type":"box","text":"Interest rate swaps","page_number":119,"box":{"x":72,"y":182,"width":140,"height":10}},{"id":"5e1b443e-ad6e-4f9a-aa20-8e0a48b61ae7","block_type":"box","text":"√","page_number":119,"box":{"x":530,"y":182,"width":8,"height":8}},{"id":"263b5b15-f884-4480-93ea-77f838c3be6d","block_type":"box","text":"OTC equity options","page_number":119,"box":{"x":72,"y":200,"width":142,"height":11}},{"id":"b8f61892-4ae2-40c7-82ba-fa0acdbda75f","block_type":"box","text":"√","page_number":119,"box":{"x":421,"y":200,"width":8,"height":8}},{"id":"49b7d6c5-295b-4cc8-821f-891dc32544db","block_type":"box","text":"Inflation swaps","page_number":119,"box":{"x":72,"y":218,"width":109,"height":11}},{"id":"0af2004f-4b3a-4a89-94ae-ba2fcb28e415","block_type":"box","text":"√","page_number":119,"box":{"x":530,"y":219,"width":8,"height":7}},{"id":"bea60494-a20a-414b-8e87-b8451dad4121","block_type":"box","text":"Cross currency swaps","page_number":119,"box":{"x":72,"y":236,"width":163,"height":12}},{"id":"40d8bb77-6a31-48bc-b517-28fa7cbb8f0f","block_type":"box","text":"√","page_number":119,"box":{"x":530,"y":237,"width":8,"height":8}},{"id":"a78ec78c-3baf-4197-be91-9e3f3978fdc3","block_type":"box","text":"Other","page_number":119,"box":{"x":72,"y":255,"width":41,"height":9}},{"id":"12c76819-953a-4e5d-b525-4d419af6978d","block_type":"box","text":"√","page_number":119,"box":{"x":530,"y":255,"width":8,"height":8}},{"id":"a80b32cc-52c0-4d4c-b2af-a180dfa63d3c","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":119,"box":{"x":63,"y":283,"width":860,"height":11}},{"id":"b601394f-a72a-4964-a1da-b265ff3131dd","block_type":"box","text":"2)","page_number":119,"box":{"x":62,"y":297,"width":13,"height":11}},{"id":"8c75d44d-f7ae-40be-9029-d31a63e2e550","block_type":"box","text":"Leverage Limits","page_number":119,"box":{"x":63,"y":324,"width":128,"height":11}},{"id":"fbc66f78-5ea8-4607-b95b-0cf458538dfb","block_type":"box","text":"(Exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":119,"box":{"x":200,"y":324,"width":722,"height":11}},{"id":"35c9f00d-00d0-4415-a19f-560aca161406","block_type":"box","text":"Regime):","page_number":119,"box":{"x":63,"y":337,"width":65,"height":12}},{"id":"1e6dbe0e-9982-4b43-8251-034d436972d7","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":119,"box":{"x":62,"y":365,"width":471,"height":11}},{"id":"b1d384ab-862b-4690-90d4-70142dba6f36","block_type":"box","text":"","page_number":119,"box":{"x":62,"y":396,"width":6,"height":4}},{"id":"f450f044-50b0-4d5e-b0d1-22f9bc90a7c0","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":119,"box":{"x":92,"y":393,"width":193,"height":11}},{"id":"d4d52d4e-8033-4525-a1b1-5ba5f35de1c0","block_type":"box","text":"","page_number":119,"box":{"x":62,"y":413,"width":6,"height":4}},{"id":"bfc5a0e8-e4af-4b34-9c53-f3259360013f","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":119,"box":{"x":92,"y":409,"width":183,"height":12}},{"id":"d29e0140-a40b-4e56-ad7a-bd0e39c8295f","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":119,"box":{"x":62,"y":437,"width":860,"height":11}},{"id":"2f78348f-9619-405e-8bcb-aad0e897f5d7","block_type":"box","text":"which case leverage will not exceed the following:","page_number":119,"box":{"x":62,"y":451,"width":368,"height":11}},{"id":"877b15cb-648f-447e-8a11-0ff93f566585","block_type":"box","text":"","page_number":119,"box":{"x":62,"y":482,"width":6,"height":4}},{"id":"26ca4184-47c6-40cd-b9d3-27147a94aecb","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":119,"box":{"x":92,"y":479,"width":193,"height":11}},{"id":"20e57f19-3c91-4947-a577-6068d6423873","block_type":"box","text":"","page_number":119,"box":{"x":62,"y":499,"width":6,"height":4}},{"id":"c9390459-1723-4e25-b2f8-46e82756b667","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":119,"box":{"x":92,"y":495,"width":183,"height":11}},{"id":"495bedd9-29fe-4db4-88eb-b1136069c01e","block_type":"box","text":"Specific Risks","page_number":119,"box":{"x":62,"y":523,"width":113,"height":11}},{"id":"4e9f0409-45a0-4215-a90d-974e005f9c07","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":119,"box":{"x":181,"y":523,"width":462,"height":11}},{"id":"1b37b5c2-4e10-4bb0-ac73-13fd37207b58","block_type":"box","text":"","page_number":119,"box":{"x":62,"y":547,"width":6,"height":4}},{"id":"c20fbbb3-ba2c-4d64-af54-1a16f8e9ac7e","block_type":"box","text":"Emerging Markets","page_number":119,"box":{"x":93,"y":544,"width":134,"height":11}},{"id":"6dc9741f-eaaa-4e68-8f32-e2681314e7c0","block_type":"box","text":"","page_number":119,"box":{"x":62,"y":561,"width":6,"height":4}},{"id":"b43adcfd-5157-4a4d-855c-071bb3782135","block_type":"box","text":"Smaller Companies","page_number":119,"box":{"x":92,"y":558,"width":145,"height":11}},{"id":"cfe33bb5-b56b-4852-806a-5ea1fd6ea6f6","block_type":"box","text":"","page_number":119,"box":{"x":62,"y":575,"width":6,"height":5}},{"id":"52fed9b6-a24a-4dca-8946-d08710399f6f","block_type":"box","text":"Equity Securities","page_number":119,"box":{"x":93,"y":572,"width":123,"height":12}},{"id":"f089898e-5f22-47e1-a357-8dd8cd51c7b0","block_type":"box","text":"","page_number":119,"box":{"x":62,"y":590,"width":6,"height":4}},{"id":"9bd76557-5870-4711-8f95-a8c8768279a6","block_type":"box","text":"Stock Connect","page_number":119,"box":{"x":92,"y":587,"width":108,"height":9}},{"id":"2a7acee4-41f2-4adb-b60e-acf329782a49","block_type":"box","text":"Past Performance –","page_number":119,"box":{"x":72,"y":621,"width":156,"height":8}},{"id":"cfad1224-b9cb-4aa0-9454-f1d8eb0c5a8c","block_type":"box","text":"AI Asia Pacific ex Japan Fund","page_number":119,"box":{"x":233,"y":621,"width":236,"height":11}},{"id":"23a897a8-bf97-4847-a523-1346bc7076b8","block_type":"box","text":"% Growth","page_number":119,"box":{"x":71,"y":640,"width":77,"height":9}},{"id":"6545fc34-1370-4401-8ada-d6c209d4cf0c","block_type":"box","text":"1/1/2024 to","page_number":119,"box":{"x":309,"y":666,"width":94,"height":8}},{"id":"779004ed-b47b-496c-929b-ce35d004f682","block_type":"box","text":"31/12/2024","page_number":119,"box":{"x":308,"y":678,"width":75,"height":8}},{"id":"39062dc0-0cf8-4c23-a2ec-fffe7fe3c846","block_type":"box","text":"1/1/2023 to","page_number":119,"box":{"x":422,"y":666,"width":94,"height":8}},{"id":"53929ab7-6ed7-4fcd-bedc-0080d119ed98","block_type":"box","text":"31/12/2023","page_number":119,"box":{"x":421,"y":678,"width":75,"height":8}},{"id":"b987dfd5-c501-4646-afc2-38648258e381","block_type":"box","text":"1/1/2022 to","page_number":119,"box":{"x":536,"y":666,"width":94,"height":8}},{"id":"2c8382b9-06d7-43d3-9f5c-5083779e6375","block_type":"box","text":"31/12/2022","page_number":119,"box":{"x":535,"y":678,"width":75,"height":8}},{"id":"cfcca7f7-cd99-4d0f-bdc5-c83e0835f496","block_type":"box","text":"1/1/2021 to","page_number":119,"box":{"x":649,"y":666,"width":85,"height":8}},{"id":"46ad9044-6b5e-4dbf-bce9-079c547b7530","block_type":"box","text":"31/12/2021","page_number":119,"box":{"x":648,"y":678,"width":73,"height":8}},{"id":"cfa255a1-dcf6-4c00-8544-b9d764bf7a15","block_type":"box","text":"1/1/2020 to","page_number":119,"box":{"x":753,"y":666,"width":85,"height":8}},{"id":"cb7cb6ed-895a-45ed-bae4-95d3b9d30cf8","block_type":"box","text":"31/12/2020","page_number":119,"box":{"x":753,"y":678,"width":74,"height":8}},{"id":"d354b30a-ab1a-4494-a104-f1b9c63f061e","block_type":"box","text":"UK Corporate Income","page_number":119,"box":{"x":72,"y":703,"width":217,"height":10}},{"id":"3b813e64-fb9d-4de7-a794-a197586420ef","block_type":"box","text":"Distribution Units (%)","page_number":119,"box":{"x":72,"y":715,"width":140,"height":10}},{"id":"eb15e48b-613b-43bb-a0c2-f70b47ef2989","block_type":"box","text":"10.72","page_number":119,"box":{"x":309,"y":703,"width":36,"height":8}},{"id":"606fdc68-989d-4bf6-848c-93136305f6ea","block_type":"box","text":"-0.47","page_number":119,"box":{"x":422,"y":703,"width":33,"height":8}},{"id":"eecc2b9b-6cd8-455d-bca0-50f1b428356a","block_type":"box","text":"-7.74","page_number":119,"box":{"x":535,"y":703,"width":34,"height":8}},{"id":"6e0cec53-4e94-45d6-9f92-4170a7c286d5","block_type":"box","text":"1.0","page_number":119,"box":{"x":650,"y":703,"width":19,"height":8}},{"id":"6f3bcb4f-02d6-4df4-bdd0-b77c1b5ad5ef","block_type":"box","text":"20.2","page_number":119,"box":{"x":752,"y":703,"width":29,"height":8}},{"id":"f69c278c-8c02-4256-9454-551ee70971fe","block_type":"box","text":"Insured Pension Income","page_number":119,"box":{"x":72,"y":746,"width":217,"height":8}},{"id":"f55b41a0-8b2d-4810-a983-af0f3240a91b","block_type":"box","text":"Distribution Units (%)","page_number":119,"box":{"x":72,"y":758,"width":140,"height":10}},{"id":"3abdd860-cea0-46b5-9352-d78fed471680","block_type":"box","text":"10.66","page_number":119,"box":{"x":309,"y":746,"width":36,"height":8}},{"id":"d3dd7010-8e26-48cc-b6c1-cdc300af0f35","block_type":"box","text":"-0.46","page_number":119,"box":{"x":422,"y":746,"width":33,"height":8}},{"id":"a156e400-79a5-4655-9441-66dba9ee47f6","block_type":"box","text":"-7.68","page_number":119,"box":{"x":535,"y":746,"width":34,"height":8}},{"id":"34d6a30f-4160-4d29-a615-a38f584e52bf","block_type":"box","text":"1.0","page_number":119,"box":{"x":650,"y":746,"width":19,"height":8}},{"id":"b254dec6-d2dd-40bf-b6e8-71af2bffd542","block_type":"box","text":"20.2","page_number":119,"box":{"x":752,"y":746,"width":29,"height":8}},{"id":"e31c9af3-97f2-4861-ac8e-8603150c984d","block_type":"box","text":"UK Institutional Accumulation","page_number":119,"box":{"x":72,"y":789,"width":217,"height":8}},{"id":"2607b747-4efc-41fb-9e40-0015b5b58c6c","block_type":"box","text":"Units (%)","page_number":119,"box":{"x":72,"y":801,"width":60,"height":10}},{"id":"83c0fcba-50b8-49cb-a11f-d48c606f5df7","block_type":"box","text":"10.72","page_number":119,"box":{"x":309,"y":789,"width":36,"height":8}},{"id":"312ea9de-ef91-4c99-84f8-196aeb1615db","block_type":"box","text":"-0.56","page_number":119,"box":{"x":422,"y":789,"width":33,"height":8}},{"id":"a0968e6a-bee9-4b2f-958e-b5f7165ec6cb","block_type":"box","text":"-7.71","page_number":119,"box":{"x":535,"y":789,"width":31,"height":8}},{"id":"f0faf116-23f0-4e68-8a17-d7de5b292457","block_type":"box","text":"1.1","page_number":119,"box":{"x":650,"y":789,"width":16,"height":8}},{"id":"72e54921-0848-4709-b003-152b67c3068f","block_type":"box","text":"20.2","page_number":119,"box":{"x":752,"y":789,"width":29,"height":8}},{"id":"fafa8556-1a02-4612-b798-d1cc90698950","block_type":"box","text":"ACS (Fund of Fund)","page_number":119,"box":{"x":71,"y":832,"width":218,"height":10}},{"id":"dba13b92-fdfc-43bc-8d11-c3d9353625be","block_type":"box","text":"Accumulation Units Class 1 (%)","page_number":119,"box":{"x":71,"y":844,"width":211,"height":10}},{"id":"906985aa-93ec-4899-9e57-060a3674b769","block_type":"box","text":"10.71","page_number":119,"box":{"x":309,"y":832,"width":34,"height":8}},{"id":"672ea219-25e8-460f-8f1b-675fd67f4509","block_type":"box","text":"-0.51","page_number":119,"box":{"x":422,"y":832,"width":31,"height":8}},{"id":"928c4b0d-03ab-4a1d-b0be-db6a35d3877c","block_type":"box","text":"-7.70","page_number":119,"box":{"x":535,"y":832,"width":34,"height":8}},{"id":"1d588b6f-9c03-4db0-8533-a2aec6255972","block_type":"box","text":"N/A","page_number":119,"box":{"x":649,"y":832,"width":24,"height":8}},{"id":"85d021f4-8727-4915-a3b7-3097a1591e1a","block_type":"box","text":"N/A","page_number":119,"box":{"x":753,"y":832,"width":24,"height":8}},{"id":"50715817-3200-4b87-9925-a2dd96b9a96b","block_type":"box","text":"ACS (Fund of Fund)","page_number":119,"box":{"x":71,"y":869,"width":218,"height":10}},{"id":"bff274a6-afac-44bc-b60d-791663e156a3","block_type":"box","text":"Accumulation Units Class 2 (%)","page_number":119,"box":{"x":71,"y":881,"width":211,"height":10}},{"id":"8964bf4f-c51b-4b89-b5f7-d31c896c7ae6","block_type":"box","text":"10.71","page_number":119,"box":{"x":309,"y":869,"width":34,"height":8}},{"id":"c6d4a4d3-1ef5-47d1-96fb-dc3317a52d82","block_type":"box","text":"-0.51","page_number":119,"box":{"x":422,"y":869,"width":31,"height":8}},{"id":"c63f51ae-7810-4f51-9998-1bac6a36009c","block_type":"box","text":"-7.70","page_number":119,"box":{"x":535,"y":869,"width":34,"height":8}},{"id":"49572474-6965-4782-9214-d7ad932d67b4","block_type":"box","text":"N/A","page_number":119,"box":{"x":649,"y":869,"width":24,"height":8}},{"id":"9aa0645b-dbb7-4e75-ae1d-a7bbfe13a184","block_type":"box","text":"N/A","page_number":119,"box":{"x":753,"y":869,"width":24,"height":8}},{"id":"9842a485-38b3-423f-9a88-d622f5ac0fff","block_type":"box","text":"UK Corporate Accumulation","page_number":119,"box":{"x":72,"y":906,"width":217,"height":10}},{"id":"70084ca9-6d93-42f6-b7b6-571252fa5735","block_type":"box","text":"Units (%)","page_number":119,"box":{"x":72,"y":918,"width":60,"height":10}},{"id":"e235702d-742c-42b3-beb3-56d7519ddf03","block_type":"box","text":"10.70","page_number":119,"box":{"x":309,"y":906,"width":36,"height":8}},{"id":"d5ae50d8-8b06-498c-87fa-8a624f028287","block_type":"box","text":"-0.52","page_number":119,"box":{"x":422,"y":906,"width":33,"height":8}},{"id":"a5caae1f-eba9-4666-b5c3-9b1454c67fc7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":120,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"7bde7e8c-3097-44af-83ea-135b6487e644","block_type":"box","text":"120","page_number":120,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"529e49d7-4630-4595-bbb3-72e19dc7d0ae","block_type":"box","text":"Aviva Investors: Confidential","page_number":120,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"a4f1eef5-6894-4689-b31a-f729351715fe","block_type":"box","text":"Insured Pension Accumulation","page_number":120,"box":{"x":72,"y":78,"width":217,"height":8}},{"id":"11d15ec8-8a84-4cd0-9b0f-d2e3b2ae7a64","block_type":"box","text":"Units (%)","page_number":120,"box":{"x":72,"y":90,"width":60,"height":10}},{"id":"e550ad8e-e366-4f7e-913f-480987fbfcb4","block_type":"box","text":"10.70","page_number":120,"box":{"x":309,"y":78,"width":36,"height":8}},{"id":"41d12176-991a-4050-8e77-2318598713db","block_type":"box","text":"-0.52","page_number":120,"box":{"x":422,"y":78,"width":33,"height":8}},{"id":"f78ab70d-6dec-413a-91b3-c239a138e5c7","block_type":"box","text":"UK Fund of Fund Accumulation","page_number":120,"box":{"x":72,"y":121,"width":217,"height":8}},{"id":"519e3287-633f-4696-aaac-5f36ce64286c","block_type":"box","text":"Units (%)","page_number":120,"box":{"x":72,"y":133,"width":60,"height":10}},{"id":"844512e9-50e4-4c57-9b9b-81a574961aa5","block_type":"box","text":"Index - MSCI® All Country Asia","page_number":120,"box":{"x":72,"y":161,"width":218,"height":10}},{"id":"ee896540-1f66-4f9a-abd2-d89d0671f419","block_type":"box","text":"Pacific ex Japan Total Return","page_number":120,"box":{"x":72,"y":173,"width":218,"height":10}},{"id":"38f3e80e-1239-4d16-86a2-ceddabb98ec7","block_type":"box","text":"Index","page_number":120,"box":{"x":72,"y":185,"width":37,"height":8}},{"id":"4b6e3f34-8fa6-46fc-a550-7e1270698377","block_type":"box","text":"15.52","page_number":120,"box":{"x":311,"y":161,"width":35,"height":8}},{"id":"74c2dc26-8e05-4bd5-b9d0-009e796ce8c5","block_type":"box","text":"0.34","page_number":120,"box":{"x":422,"y":161,"width":29,"height":8}},{"id":"2f2d3d28-709a-4e78-bf39-892763a71d70","block_type":"box","text":"-9.19","page_number":120,"box":{"x":536,"y":161,"width":34,"height":8}},{"id":"d3e4298c-0ee9-4a5f-857d-05d69ff57ab3","block_type":"box","text":"-1.8","page_number":120,"box":{"x":649,"y":161,"width":26,"height":8}},{"id":"e31bf1a9-813e-457f-87fc-5141faef9f19","block_type":"box","text":"19.0","page_number":120,"box":{"x":755,"y":161,"width":27,"height":8}},{"id":"f957537c-71b5-479b-b4e4-b6fe78007143","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":121,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"f126d9b1-df5a-48ac-a62d-a9ea6eb838ec","block_type":"box","text":"121","page_number":121,"box":{"x":781,"y":940,"width":16,"height":6}},{"id":"c01fdf7e-07c9-4add-a064-6f91dcd4ae3c","block_type":"box","text":"Aviva Investors: Confidential","page_number":121,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"7b21d298-3876-44d8-8ec6-3c5b9fb6ed31","block_type":"box","text":"AI Global Equity Fund","page_number":121,"box":{"x":62,"y":59,"width":174,"height":11}},{"id":"6776e71b-5e59-4e17-8fb4-639cc0d32839","block_type":"box","text":"FCA product reference number: 658311","page_number":121,"box":{"x":63,"y":78,"width":310,"height":11}},{"id":"15cdee9a-325a-4a8d-ba5b-546dde401743","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":121,"box":{"x":62,"y":117,"width":860,"height":11}},{"id":"2a6df3ea-2971-43b3-96f9-9ccc211acb43","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":121,"box":{"x":62,"y":131,"width":366,"height":11}},{"id":"dc401b74-24b7-463a-8ff0-cd0f3920c3a3","block_type":"box","text":"Investment Objective and Policy","page_number":121,"box":{"x":62,"y":170,"width":257,"height":11}},{"id":"8fcc49fe-7200-4338-b057-608ca201867f","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of global","page_number":121,"box":{"x":62,"y":190,"width":860,"height":11}},{"id":"4d736874-debb-4512-8bc4-596eb134d869","block_type":"box","text":"companies.","page_number":121,"box":{"x":62,"y":204,"width":84,"height":10}},{"id":"a8fc6f07-eb03-4356-b51c-74094ac58ad4","block_type":"box","text":"Core investment:","page_number":121,"box":{"x":62,"y":223,"width":135,"height":9}},{"id":"6b0154fa-9099-4e28-8e11-859c1e5e24ab","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of global companies. “Global companies” means companies","page_number":121,"box":{"x":62,"y":242,"width":861,"height":12}},{"id":"06045c4e-0738-4031-b941-9426857b4ccb","block_type":"box","text":"in any country across the globe, including in emerging markets.","page_number":121,"box":{"x":62,"y":256,"width":467,"height":11}},{"id":"44a001f7-0eb0-46ab-abe5-11ea21c2b290","block_type":"box","text":"Other investments:","page_number":121,"box":{"x":62,"y":276,"width":151,"height":9}},{"id":"50cad00d-00f5-4d20-9159-0fee15c318f2","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by the Investment Manager),","page_number":121,"box":{"x":62,"y":295,"width":860,"height":12}},{"id":"7e0150ea-827e-4c7f-985c-32fa879b0ec7","block_type":"box","text":"derivatives, cash and deposits.","page_number":121,"box":{"x":62,"y":309,"width":228,"height":11}},{"id":"a8e4748a-5939-42dc-9c35-e2ac57ea7069","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":121,"box":{"x":63,"y":329,"width":860,"height":11}},{"id":"b0848769-3397-447b-90d3-8a6a3d11fa30","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":121,"box":{"x":62,"y":342,"width":861,"height":12}},{"id":"d8780d0a-f578-4a57-b7a9-3ca17be5f91a","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":121,"box":{"x":62,"y":356,"width":545,"height":11}},{"id":"10f8d2dc-3773-49b3-b8fa-725d35afb55f","block_type":"box","text":"Strategy:","page_number":121,"box":{"x":62,"y":375,"width":70,"height":12}},{"id":"134ebb9f-762d-45ff-8556-7472f04a3ea9","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager aims to achieve the Sub-Fund’s objective by","page_number":121,"box":{"x":62,"y":395,"width":861,"height":11}},{"id":"a2db5965-bfec-4de2-b4a4-19f5cbad14f4","block_type":"box","text":"constructing a portfolio of large-cap global stocks, with a focus on those companies which will deliver positive earnings","page_number":121,"box":{"x":62,"y":409,"width":861,"height":11}},{"id":"8080d3a7-df71-4d4a-ab13-8245ca691e05","block_type":"box","text":"growth that has not been factored in by the market (the Investment Manager terms this ‘a positive growth gap’). The","page_number":121,"box":{"x":62,"y":422,"width":861,"height":12}},{"id":"81ede188-8386-41e5-be62-b0fa33a45dfa","block_type":"box","text":"Investment Manager believes such stocks will outperform as their growth characteristics are recognised by the market.","page_number":121,"box":{"x":63,"y":436,"width":859,"height":11}},{"id":"a20d27fb-db1e-41d6-93e5-d5d8409973e6","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":121,"box":{"x":62,"y":456,"width":527,"height":11}},{"id":"096c42a7-74dc-44ba-b1cc-0ac2cecfb214","block_type":"box","text":"please see Appendix 2 for information on","page_number":121,"box":{"x":594,"y":456,"width":328,"height":11}},{"id":"bf6ef211-18e5-41d1-9139-3e2cf9d4d172","block_type":"box","text":"these limited investment restrictions.","page_number":121,"box":{"x":62,"y":469,"width":295,"height":9}},{"id":"43a34f83-59d2-4f63-bc0b-368531a24930","block_type":"box","text":"Performance & Risk Measurement:","page_number":121,"box":{"x":63,"y":489,"width":275,"height":9}},{"id":"cfcb8a2a-991d-4791-a234-d490cc8abb8e","block_type":"box","text":"The Sub-Fund’s performance is compared against the MSCI® World NDR Total Return GBP Index (the “Index”)","page_number":121,"box":{"x":62,"y":508,"width":828,"height":12}},{"id":"c50bd865-3292-44c6-9e00-6d48b6fd02ff","block_type":"box","text":"□","page_number":121,"box":{"x":892,"y":510,"width":5,"height":4}},{"id":"2eb02962-a966-4820-9746-25f7b9d1b9b1","block_type":"box","text":".","page_number":121,"box":{"x":899,"y":516,"width":2,"height":1}},{"id":"1888eb99-1d5d-4cfc-91e8-864bbfc42a66","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":121,"box":{"x":62,"y":528,"width":860,"height":11}},{"id":"920668e5-e659-4c7a-9af8-9e68f5190045","block_type":"box","text":"may also hold companies that do not form part of it. The Investment Manager may not invest more than 7% of the","page_number":121,"box":{"x":62,"y":542,"width":861,"height":11}},{"id":"279f0d53-2bdb-4253-97c9-8503b705d19a","block_type":"box","text":"Sub-Fund in a single stock. The Sub-Fund will not invest in shares of companies within the Aviva Group.","page_number":121,"box":{"x":62,"y":555,"width":772,"height":12}},{"id":"0cf1f55c-b3fd-4c69-a95d-7e0e5fa91c89","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":121,"box":{"x":62,"y":575,"width":861,"height":11}},{"id":"837152f9-cd77-4fbe-80ba-983da4f5760c","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":121,"box":{"x":63,"y":589,"width":859,"height":11}},{"id":"9a37ca3e-4505-42b6-81d7-009178e29596","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 3% and 5% when","page_number":121,"box":{"x":62,"y":602,"width":860,"height":12}},{"id":"aa683cde-25a6-4961-a3bf-44b6c90a43c4","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":121,"box":{"x":62,"y":616,"width":650,"height":11}},{"id":"0eab16bd-2b6f-450e-8e26-0d4a3b3c1ce6","block_type":"box","text":"The Index comprises large and medium sized companies, as determined by their market capitalisation (total market","page_number":121,"box":{"x":62,"y":636,"width":861,"height":11}},{"id":"20d9f69b-c8b3-4c17-b7b3-a562db256e40","block_type":"box","text":"value of a company's outstanding shares), from developed countries, and the Index is designed to provide a broad","page_number":121,"box":{"x":62,"y":649,"width":860,"height":12}},{"id":"7021aef0-0774-4c63-ad92-c94b7ea17722","block_type":"box","text":"measure of global equity market performance.","page_number":121,"box":{"x":62,"y":663,"width":340,"height":11}},{"id":"eb772376-7fbd-49da-9d05-797505f9c844","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":121,"box":{"x":62,"y":683,"width":861,"height":11}},{"id":"81f20280-8675-45de-8ca0-a36abeb6874d","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the","page_number":121,"box":{"x":62,"y":696,"width":861,"height":11}},{"id":"d9f2049d-0e14-42d6-b589-351e817ae1ac","block_type":"box","text":"Sub-Fund’s performance.","page_number":121,"box":{"x":62,"y":710,"width":187,"height":11}},{"id":"835a6503-3ad7-4456-a9f3-b5d859aa3a10","block_type":"box","text":"Additional Information","page_number":121,"box":{"x":62,"y":729,"width":177,"height":9}},{"id":"1f8523fe-5e9d-4b95-852b-54f0db5675f6","block_type":"box","text":"Investment Manager","page_number":121,"box":{"x":118,"y":756,"width":151,"height":11}},{"id":"eb444f5f-b7d9-4f7f-8d0d-f1a139019184","block_type":"box","text":"Schroder Investment Management Limited","page_number":121,"box":{"x":373,"y":756,"width":315,"height":11}},{"id":"998c2299-4bb7-46fc-8ac3-2fc95074677e","block_type":"box","text":"Type of Units","page_number":121,"box":{"x":116,"y":782,"width":98,"height":11}},{"id":"ebbd47f7-16af-4d1c-925c-21f5176bf40a","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":121,"box":{"x":373,"y":782,"width":292,"height":11}},{"id":"9bdc68c7-94d2-4a87-bdd2-0bb3b44231c4","block_type":"box","text":"UK Corporate Accumulation Units","page_number":121,"box":{"x":373,"y":808,"width":250,"height":11}},{"id":"1f339f60-4e0c-4656-98e1-637b94ee4d94","block_type":"box","text":"Insured Pension Accumulation Units","page_number":121,"box":{"x":374,"y":834,"width":267,"height":9}},{"id":"a936ea2b-27f3-478e-a45d-0fd7a5e27764","block_type":"box","text":"Insured Pension Income Distribution Units","page_number":121,"box":{"x":374,"y":860,"width":310,"height":9}},{"id":"1686a2c8-d354-4536-afbb-9039e5c523dd","block_type":"box","text":"UK Institutional Accumulation Units","page_number":121,"box":{"x":373,"y":886,"width":260,"height":9}},{"id":"890cb3a3-460f-49e8-a855-e817b50e07e5","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 1)","page_number":121,"box":{"x":372,"y":912,"width":369,"height":11}},{"id":"c8fe2219-283d-489c-8d93-7b1eca3947e7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":122,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"5ab54dbf-f386-49dc-aa99-661029346103","block_type":"box","text":"122","page_number":122,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"adda2d70-7233-4496-af3d-b6a23f93ba71","block_type":"box","text":"Aviva Investors: Confidential","page_number":122,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"02d589ef-4a8e-40af-89ea-ffd2c2e23e27","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 2)","page_number":122,"box":{"x":372,"y":59,"width":369,"height":11}},{"id":"429bcf1c-e9f4-42bb-8685-717bc0a1e0a4","block_type":"box","text":"Dealing Day","page_number":122,"box":{"x":118,"y":85,"width":89,"height":11}},{"id":"6a5baa32-75b9-414c-a9b2-78ccfe8a7c09","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30","page_number":122,"box":{"x":374,"y":85,"width":383,"height":11}},{"id":"2f9c27c6-5e2e-445a-8a16-113aa3e4bfc7","block_type":"box","text":"p.m.","page_number":122,"box":{"x":373,"y":101,"width":30,"height":9}},{"id":"dfc5e812-94d8-4c61-88fa-f92c386c231a","block_type":"box","text":"Deal Cut-Off Point","page_number":122,"box":{"x":118,"y":125,"width":134,"height":9}},{"id":"cf62afbd-d2f4-48f8-b2a9-5d230715c66d","block_type":"box","text":"2.00 p.m.","page_number":122,"box":{"x":373,"y":125,"width":67,"height":11}},{"id":"c79c3350-d541-45c7-9473-6037eb2b0dab","block_type":"box","text":"Valuation Point","page_number":122,"box":{"x":117,"y":151,"width":112,"height":9}},{"id":"9a4e0da8-7c77-4b48-b001-fed4ec47f73b","block_type":"box","text":"3.00 p.m.","page_number":122,"box":{"x":373,"y":152,"width":67,"height":10}},{"id":"a201cc51-22fb-4c7c-93c8-b304065aa3f0","block_type":"box","text":"*Minimum Investment","page_number":122,"box":{"x":117,"y":177,"width":172,"height":9}},{"id":"3cb69605-d59f-4a8e-96a4-492caf544ff7","block_type":"box","text":"UK Corporate Income","page_number":122,"box":{"x":118,"y":203,"width":160,"height":11}},{"id":"01d72732-74d6-43f3-bbac-eb5c2ea8f481","block_type":"box","text":"Distribution Units, UK","page_number":122,"box":{"x":118,"y":217,"width":158,"height":10}},{"id":"1bc4bd7b-66f7-4e0f-8ba8-44e39136a7ee","block_type":"box","text":"Corporate Accumulation Units,","page_number":122,"box":{"x":117,"y":230,"width":225,"height":12}},{"id":"507bfb11-d894-425c-a15f-68df2a13a8da","block_type":"box","text":"Insured Pension Accumulation,","page_number":122,"box":{"x":118,"y":244,"width":228,"height":11}},{"id":"2185bce7-8df6-404a-8758-9a71481d8216","block_type":"box","text":"Insured Pension Income","page_number":122,"box":{"x":118,"y":258,"width":179,"height":9}},{"id":"5189e0c8-daab-4e26-96d2-a1c46592b015","block_type":"box","text":"Distribution Units","page_number":122,"box":{"x":118,"y":272,"width":124,"height":8}},{"id":"e7ff86d2-3bc4-450c-aded-b165320fd89d","block_type":"box","text":",","page_number":122,"box":{"x":244,"y":279,"width":2,"height":3}},{"id":"8258bd3d-c496-424b-b2e5-ad02f37eef67","block_type":"box","text":"UK","page_number":122,"box":{"x":254,"y":272,"width":22,"height":8}},{"id":"8d76e4f6-5e0d-473a-866d-0d904e039948","block_type":"box","text":"Institutional Accumulation","page_number":122,"box":{"x":118,"y":285,"width":187,"height":9}},{"id":"41f0bee0-473d-470c-b998-fdc2e6725001","block_type":"box","text":"Units, ACS (Fund of Fund)","page_number":122,"box":{"x":118,"y":299,"width":195,"height":11}},{"id":"4ad9e765-b169-447e-a39d-e79b3cff4421","block_type":"box","text":"Accumulation Units (Class 1),","page_number":122,"box":{"x":116,"y":312,"width":219,"height":12}},{"id":"fdffa41a-be87-481f-a936-d1e2b54e8069","block_type":"box","text":"ACS (Fund of Fund)","page_number":122,"box":{"x":116,"y":326,"width":149,"height":11}},{"id":"a50ea3ff-387e-4c87-92f6-872d072929c2","block_type":"box","text":"Accumulation Units (Class 2)","page_number":122,"box":{"x":116,"y":340,"width":215,"height":11}},{"id":"41d87800-64ce-4140-a1c9-ae4914af46f9","block_type":"box","text":"No minimum","page_number":122,"box":{"x":373,"y":204,"width":92,"height":8}},{"id":"3688d4ee-8312-4a42-a419-532e8989cb0c","block_type":"box","text":"Minimum withdrawal","page_number":122,"box":{"x":117,"y":366,"width":150,"height":9}},{"id":"6c98b69e-eef5-4e2e-b58e-f7ac413fdda5","block_type":"box","text":"No minimum","page_number":122,"box":{"x":373,"y":366,"width":92,"height":9}},{"id":"42d3da7e-8335-478a-8f4c-ebf6302c3cad","block_type":"box","text":"Tax Criteria for investment","page_number":122,"box":{"x":116,"y":392,"width":213,"height":9}},{"id":"1551fe12-5ab1-4af2-8230-25a5578c14cd","block_type":"box","text":"UK Corporate Income","page_number":122,"box":{"x":118,"y":418,"width":160,"height":11}},{"id":"c928a71f-67b6-4549-ae53-1daf5625b992","block_type":"box","text":"Distribution Units","page_number":122,"box":{"x":118,"y":432,"width":124,"height":9}},{"id":"1a85c8f7-1b1d-4c7f-ad46-652f94c641d8","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":122,"box":{"x":372,"y":418,"width":384,"height":11}},{"id":"7f139686-7c36-446c-af56-7c50a9c1cf9c","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":122,"box":{"x":373,"y":432,"width":384,"height":11}},{"id":"14d3a60d-40b1-47f5-9ada-d6f94a03394d","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":122,"box":{"x":372,"y":446,"width":385,"height":11}},{"id":"0cf4c7d0-59be-4965-be57-2924926ece9d","block_type":"box","text":"linked pension business contracts.","page_number":122,"box":{"x":373,"y":459,"width":253,"height":11}},{"id":"990006de-a8f4-4cf3-bd37-b170ab880e1c","block_type":"box","text":"UK Corporate Accumulation","page_number":122,"box":{"x":118,"y":485,"width":205,"height":11}},{"id":"ebf35ac9-80f3-4796-8a53-39c0dc3ee503","block_type":"box","text":"Units","page_number":122,"box":{"x":118,"y":499,"width":36,"height":9}},{"id":"5729b1f7-23ab-4306-a5cf-54c86d676fa5","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":122,"box":{"x":372,"y":485,"width":384,"height":11}},{"id":"b7798e77-2b6a-4e9c-adec-b73974640f32","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":122,"box":{"x":373,"y":499,"width":384,"height":11}},{"id":"9946cbb3-4b61-4476-a4a0-a70f89c2765c","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":122,"box":{"x":372,"y":513,"width":385,"height":11}},{"id":"afbb9d6f-9bcc-4327-b276-d492778f54ef","block_type":"box","text":"linked pension business contracts.","page_number":122,"box":{"x":373,"y":526,"width":253,"height":11}},{"id":"a770942a-f883-432b-bc28-218e730ed7c1","block_type":"box","text":"Insured Pension Accumulation","page_number":122,"box":{"x":118,"y":553,"width":224,"height":8}},{"id":"48fdfbb0-a05f-443b-b51e-05af946b80b2","block_type":"box","text":"Units","page_number":122,"box":{"x":118,"y":566,"width":36,"height":9}},{"id":"4ff7128e-5154-4700-ae9d-a107c825ba3a","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":122,"box":{"x":372,"y":552,"width":384,"height":12}},{"id":"2b1696f7-2647-4aa4-8718-66ae2acd2787","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":122,"box":{"x":373,"y":566,"width":384,"height":11}},{"id":"295912ca-424e-42b9-aad7-8e705d019b3c","block_type":"box","text":"to back exclusively its unit linked pension business","page_number":122,"box":{"x":372,"y":580,"width":385,"height":11}},{"id":"352aa95b-115c-4ffa-b93d-73013da9242f","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":122,"box":{"x":373,"y":593,"width":383,"height":12}},{"id":"05b9633d-9391-405a-97fe-c72bda332eb1","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":122,"box":{"x":373,"y":607,"width":307,"height":11}},{"id":"379a3136-a57c-45e7-9921-070f08b63a75","block_type":"box","text":"Insured Pension Income","page_number":122,"box":{"x":118,"y":633,"width":179,"height":9}},{"id":"8a76789e-1278-4fdf-b58a-7db5fe9ca088","block_type":"box","text":"Distribution Units","page_number":122,"box":{"x":118,"y":647,"width":124,"height":9}},{"id":"1e6364f2-205c-4ec8-ba44-62d109bb7d8c","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":122,"box":{"x":372,"y":633,"width":384,"height":11}},{"id":"f6ee20a9-47d2-497c-ac33-5480fde22325","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":122,"box":{"x":373,"y":647,"width":384,"height":11}},{"id":"ef51b256-5da8-490f-a035-471521cf9de4","block_type":"box","text":"to back exclusively its unit linked pension business","page_number":122,"box":{"x":372,"y":661,"width":385,"height":11}},{"id":"776c0406-13a6-4b17-8f0e-7e56742b00b4","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":122,"box":{"x":373,"y":674,"width":383,"height":11}},{"id":"483d63b1-cc3b-47c0-84b5-00fc4176ed60","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":122,"box":{"x":373,"y":688,"width":307,"height":11}},{"id":"93185991-333a-41cf-8d7b-f38d581585a3","block_type":"box","text":"UK Institutional Accumulation","page_number":122,"box":{"x":118,"y":714,"width":216,"height":9}},{"id":"b29f0539-e26d-43c9-a17c-e8011fb08a10","block_type":"box","text":"Units","page_number":122,"box":{"x":118,"y":728,"width":36,"height":9}},{"id":"da38fcf3-682a-435f-8e3e-159fc9dd9d1e","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":122,"box":{"x":372,"y":714,"width":385,"height":11}},{"id":"f3f1377b-c538-4b91-a132-dd11ad1ab78e","block_type":"box","text":"regarded as such for the purposes of the UK’s","page_number":122,"box":{"x":373,"y":728,"width":384,"height":11}},{"id":"605e3f52-9180-4965-98d8-2db785c2c3a2","block_type":"box","text":"double tax treaties.","page_number":122,"box":{"x":373,"y":742,"width":139,"height":8}},{"id":"572b2f77-d54f-4c89-b781-b921f1b39db7","block_type":"box","text":"ACS (Fund of Fund)","page_number":122,"box":{"x":116,"y":773,"width":149,"height":11}},{"id":"958afe4e-5bfa-4faa-8ffb-4fba2c3709ef","block_type":"box","text":"Accumulation Units (Class 1),","page_number":122,"box":{"x":116,"y":787,"width":219,"height":11}},{"id":"182c37f8-02bc-4c22-9a2f-34d3d8742a78","block_type":"box","text":"ACS (Fund of Fund)","page_number":122,"box":{"x":116,"y":801,"width":149,"height":11}},{"id":"01f33112-f61f-43b9-8cab-069e6f811cee","block_type":"box","text":"Accumulation Units (Class 2)","page_number":122,"box":{"x":116,"y":814,"width":215,"height":11}},{"id":"557cb501-1181-4337-ba60-df448480f476","block_type":"box","text":"A sub-fund of a UK authorised contractual scheme.","page_number":122,"box":{"x":372,"y":773,"width":378,"height":9}},{"id":"1322ffc3-a522-47cf-b148-bd169896f85b","block_type":"box","text":"**Current Charges:","page_number":122,"box":{"x":117,"y":840,"width":149,"height":12}},{"id":"b2de754e-ae5a-4534-9074-e3f136ef356f","block_type":"box","text":"UK Corporate Income","page_number":122,"box":{"x":118,"y":866,"width":160,"height":12}},{"id":"e342d05e-c953-4532-ac41-8a3588b2394c","block_type":"box","text":"Distribution Units, UK","page_number":122,"box":{"x":118,"y":880,"width":158,"height":11}},{"id":"7fdcb9a8-488a-4d81-bc33-3134287b0508","block_type":"box","text":"Corporate Accumulation Units,","page_number":122,"box":{"x":117,"y":894,"width":225,"height":11}},{"id":"c8f8e67f-fb9a-481a-aab9-344f4b001e7e","block_type":"box","text":"Insured Pension Accumulation","page_number":122,"box":{"x":118,"y":908,"width":224,"height":8}},{"id":"b465f2cd-4578-44f2-8db4-da241a74a122","block_type":"box","text":"Units, Insured Pension Income","page_number":122,"box":{"x":118,"y":921,"width":226,"height":11}},{"id":"581295c3-3ac0-46f0-ab3f-97cc3f5a84da","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":122,"box":{"x":372,"y":866,"width":385,"height":12}},{"id":"e5314347-6341-40e5-be8f-3f2955ab391c","block_type":"box","text":"Unitholder","page_number":122,"box":{"x":373,"y":880,"width":75,"height":9}},{"id":"70ba2813-bd0f-46e1-972d-1ebe9e7907d5","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":122,"box":{"x":372,"y":900,"width":385,"height":11}},{"id":"d4bcffe6-d494-4ac1-8a20-584ae676a3c4","block_type":"box","text":"property","page_number":122,"box":{"x":373,"y":914,"width":60,"height":11}},{"id":"b2cf0e5d-a7ac-49f5-a728-80e45e8b1a27","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":123,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"75f046aa-6288-4d15-a306-920f0007c6d0","block_type":"box","text":"123","page_number":123,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"18f39544-d70e-49b2-b9a8-accddb965be7","block_type":"box","text":"Aviva Investors: Confidential","page_number":123,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"9c3b156d-3f76-4674-b72a-f96941e18b28","block_type":"box","text":"Distribution Units","page_number":123,"box":{"x":118,"y":53,"width":124,"height":9}},{"id":"a772ea41-6ec4-4f9a-9834-0edddd506893","block_type":"box","text":",","page_number":123,"box":{"x":244,"y":61,"width":2,"height":3}},{"id":"cad19b45-607b-42b6-9250-af8049af4934","block_type":"box","text":"UK","page_number":123,"box":{"x":254,"y":53,"width":22,"height":9}},{"id":"2234abf4-5253-483a-8be9-5d3cda7591d5","block_type":"box","text":"Institutional Accumulation","page_number":123,"box":{"x":118,"y":67,"width":187,"height":8}},{"id":"cb7330b5-24d1-4a85-9b31-91d1ef471b81","block_type":"box","text":"Units, ACS (Fund of Fund)","page_number":123,"box":{"x":118,"y":80,"width":195,"height":11}},{"id":"f4b64d43-1c0c-43ec-afa7-f5c781dc8c7c","block_type":"box","text":"Accumulation Units (Class 1),","page_number":123,"box":{"x":116,"y":94,"width":219,"height":11}},{"id":"d7704828-2500-4dd4-b63b-beec23b1949f","block_type":"box","text":"ACS (Fund of Fund)","page_number":123,"box":{"x":116,"y":108,"width":149,"height":11}},{"id":"156f8bf2-121a-413e-a1d4-f04c45fd618b","block_type":"box","text":"Accumulation Units (Class 2)","page_number":123,"box":{"x":116,"y":121,"width":215,"height":11}},{"id":"2a373790-c1bb-47e8-9304-e907ef84b176","block_type":"box","text":"Accounting Dates","page_number":123,"box":{"x":117,"y":148,"width":141,"height":11}},{"id":"c56557e0-20c2-47e0-9004-82fe8fe7efdf","block_type":"box","text":"Annual Accounting Date","page_number":123,"box":{"x":116,"y":174,"width":180,"height":11}},{"id":"b997fc94-f4e9-42c5-b1b5-015fbd7cfb09","block_type":"box","text":"31 December","page_number":123,"box":{"x":373,"y":174,"width":100,"height":9}},{"id":"1b1b1d35-46a4-41ba-9003-b99ac701a2a3","block_type":"box","text":"First Accounting Date","page_number":123,"box":{"x":118,"y":200,"width":158,"height":11}},{"id":"8638665e-3a2d-4265-80a8-2ef6351a7b30","block_type":"box","text":"31 December 2015","page_number":123,"box":{"x":373,"y":200,"width":141,"height":9}},{"id":"4b497558-0d16-4080-90ac-bcdc65e66e42","block_type":"box","text":"Annual Income Allocation Date On or before 28 /29 February","page_number":123,"box":{"x":116,"y":226,"width":473,"height":11}},{"id":"5078ebe4-c7ea-4d3d-860a-372b7457875b","block_type":"box","text":"Half Yearly Accounting Date","page_number":123,"box":{"x":118,"y":252,"width":208,"height":11}},{"id":"73d2c7e5-cae9-46f7-b060-1821535a5478","block_type":"box","text":"30 June","page_number":123,"box":{"x":373,"y":252,"width":58,"height":9}},{"id":"8e04ec24-26b1-4c12-9a4d-d1965054bdad","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":123,"box":{"x":62,"y":278,"width":861,"height":11}},{"id":"ca293ce1-38b4-4699-87e8-2c72348114f6","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":123,"box":{"x":62,"y":292,"width":408,"height":11}},{"id":"df4cc2c4-443d-4c9a-8125-6e236af46b72","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":123,"box":{"x":62,"y":311,"width":642,"height":12}},{"id":"c6b6bcbf-b3bf-49dc-b3f9-936122174f39","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":123,"box":{"x":62,"y":331,"width":860,"height":11}},{"id":"6ee4efc4-3fdd-4cd2-b30a-9f8fbf766e91","block_type":"box","text":"this Prospectus.","page_number":123,"box":{"x":62,"y":345,"width":117,"height":11}},{"id":"1bb3a71d-764b-407a-8bdf-0690efa4edd8","block_type":"box","text":"□","page_number":123,"box":{"x":62,"y":373,"width":5,"height":4}},{"id":"3749dc64-961d-4c35-9b3f-bfa6488a1381","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":123,"box":{"x":74,"y":372,"width":342,"height":9}},{"id":"3f98fd3f-4cbd-4ec3-ae92-494f4b376868","block_type":"box","text":"Securities Financing and other Transactions:","page_number":123,"box":{"x":62,"y":406,"width":358,"height":11}},{"id":"25eea4c5-dca6-4fce-8556-32e9f9e6b8d9","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":123,"box":{"x":62,"y":426,"width":860,"height":11}},{"id":"09f7af35-0ec2-4f24-a1cd-24d2ce6770ea","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":123,"box":{"x":62,"y":439,"width":438,"height":11}},{"id":"e4635859-6b5e-409c-b7d0-befe92e53074","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":123,"box":{"x":62,"y":478,"width":861,"height":12}},{"id":"5d371120-5d95-4276-a8dd-8109a599c0d3","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":123,"box":{"x":62,"y":492,"width":860,"height":11}},{"id":"95561cbc-bc50-48f2-bb72-f2ec9a4ddbb3","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":123,"box":{"x":62,"y":506,"width":861,"height":11}},{"id":"f1af47b7-f7a8-4eab-a8b5-f6e40dbeb29b","block_type":"box","text":"15%.","page_number":123,"box":{"x":63,"y":520,"width":35,"height":8}},{"id":"dc019951-fd9e-4fd2-abe0-a1a47ef157f0","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":123,"box":{"x":62,"y":559,"width":860,"height":11}},{"id":"4c9351f8-30a9-44fd-8af3-8051cb6f9e09","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":123,"box":{"x":62,"y":572,"width":860,"height":11}},{"id":"d86eaa33-962c-4b29-83bc-5d03ec608558","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":123,"box":{"x":62,"y":586,"width":861,"height":11}},{"id":"e1a41bf2-c646-4036-b1d6-6e296fe64467","block_type":"box","text":"is zero.","page_number":123,"box":{"x":62,"y":600,"width":52,"height":8}},{"id":"9e69b69d-7528-42a2-ae08-fe99368a3e83","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":123,"box":{"x":62,"y":658,"width":249,"height":9}},{"id":"d6e44392-e0ea-4477-a8c1-7189eb279d7a","block_type":"box","text":"Leverage","page_number":123,"box":{"x":63,"y":698,"width":72,"height":11}},{"id":"6f2b3a39-7b5e-4d33-a31d-83da9db06887","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":123,"box":{"x":63,"y":717,"width":860,"height":11}},{"id":"1f67fce1-ec6c-4f20-90a0-e32380f7a3bc","block_type":"box","text":"management.","page_number":123,"box":{"x":62,"y":732,"width":101,"height":10}},{"id":"bca0ef86-736f-46e3-bb46-7146f06c8fe5","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":123,"box":{"x":62,"y":764,"width":860,"height":11}},{"id":"3b3e1441-5aeb-421a-a1b5-9dcebf9e0de5","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":123,"box":{"x":62,"y":778,"width":649,"height":11}},{"id":"0296a31d-6eff-41e8-9eb6-a7efb1577128","block_type":"box","text":"All transactions in derivatives are fully covered, and are not used as a means of gearing the Sub-Fund.","page_number":123,"box":{"x":62,"y":805,"width":760,"height":11}},{"id":"3f13e463-ee7d-4893-bea8-646b57dea993","block_type":"box","text":"Permitted derivatives","page_number":123,"box":{"x":72,"y":835,"width":168,"height":9}},{"id":"43431df5-5c0d-4cbf-b7aa-6e5c8654ed0a","block_type":"box","text":"Permitted?","page_number":123,"box":{"x":383,"y":835,"width":85,"height":9}},{"id":"1aa7292f-351e-4606-b337-daa9988a380d","block_type":"box","text":"Prohibited?","page_number":123,"box":{"x":489,"y":835,"width":91,"height":9}},{"id":"260f3e22-2f49-4c36-b302-44733ba6fd94","block_type":"box","text":"Equity index futures","page_number":123,"box":{"x":72,"y":856,"width":146,"height":11}},{"id":"3a6e4058-8252-4dc1-b4dc-69c1f9d80562","block_type":"box","text":"√","page_number":123,"box":{"x":421,"y":856,"width":8,"height":8}},{"id":"521c24d3-e041-4907-a977-3c5f2d4fb075","block_type":"box","text":"Government bond futures","page_number":123,"box":{"x":72,"y":874,"width":188,"height":9}},{"id":"de57e653-20f8-406f-8341-4a620013a170","block_type":"box","text":"√","page_number":123,"box":{"x":530,"y":874,"width":8,"height":8}},{"id":"04c974ea-30ee-401c-943e-d371ef0266f0","block_type":"box","text":"Equity index options","page_number":123,"box":{"x":72,"y":892,"width":148,"height":11}},{"id":"03dda532-bce2-4018-baaf-0821b34ebce9","block_type":"box","text":"√","page_number":123,"box":{"x":421,"y":893,"width":8,"height":7}},{"id":"bf1193ad-e1c4-43bb-94f8-44ea3a826c4f","block_type":"box","text":"Forward foreign exchange","page_number":123,"box":{"x":72,"y":911,"width":193,"height":11}},{"id":"c1817ac2-2bf8-4581-bc58-6763f77f94cc","block_type":"box","text":"√","page_number":123,"box":{"x":421,"y":911,"width":8,"height":8}},{"id":"36861d48-e5e1-41b6-a8a2-30265084ab3b","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":124,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"a0bedd5e-73a5-4cc0-a1b9-66fdd32a8ff2","block_type":"box","text":"124","page_number":124,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"821139bd-4246-4dda-b80e-708e2daf6398","block_type":"box","text":"Aviva Investors: Confidential","page_number":124,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"a605bfc1-bb43-46ed-b17c-05c13d47f955","block_type":"box","text":"Index credit default swaps","page_number":124,"box":{"x":72,"y":57,"width":192,"height":11}},{"id":"c2f285b9-a4b2-434d-9712-31085e0f6916","block_type":"box","text":"√","page_number":124,"box":{"x":530,"y":58,"width":8,"height":7}},{"id":"0405b70b-bb93-444c-b214-0ee099c7307b","block_type":"box","text":"Interest rate swaps","page_number":124,"box":{"x":72,"y":76,"width":140,"height":11}},{"id":"2d5b14c5-efff-4a52-bc23-02e46cabc524","block_type":"box","text":"√","page_number":124,"box":{"x":530,"y":76,"width":8,"height":8}},{"id":"43457845-d4cb-46e6-b208-d0d94475dd51","block_type":"box","text":"OTC equity options","page_number":124,"box":{"x":72,"y":94,"width":142,"height":11}},{"id":"2b3f1dfb-45af-4234-b22d-eeeded2b48a7","block_type":"box","text":"√","page_number":124,"box":{"x":421,"y":94,"width":8,"height":8}},{"id":"36813826-b9e3-461f-854a-c40dcc131000","block_type":"box","text":"Inflation swaps","page_number":124,"box":{"x":72,"y":112,"width":109,"height":12}},{"id":"ea270aa4-c50c-470f-a637-e75b66129bd2","block_type":"box","text":"√","page_number":124,"box":{"x":530,"y":113,"width":8,"height":8}},{"id":"75822b94-ecb8-4ec1-84d7-f84c38bc41fc","block_type":"box","text":"Cross currency swaps","page_number":124,"box":{"x":72,"y":131,"width":163,"height":11}},{"id":"26c52b52-ef67-478f-9a2a-20b41fc51f42","block_type":"box","text":"√","page_number":124,"box":{"x":530,"y":131,"width":8,"height":8}},{"id":"49a04579-f157-4f93-bc48-fbf6b2de17de","block_type":"box","text":"Other","page_number":124,"box":{"x":72,"y":149,"width":41,"height":9}},{"id":"f498d651-3331-4f73-a086-87dc2d489874","block_type":"box","text":"√","page_number":124,"box":{"x":530,"y":150,"width":8,"height":7}},{"id":"059fec7f-a310-4233-9c64-c5048b6cb324","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":124,"box":{"x":63,"y":177,"width":860,"height":11}},{"id":"8115c858-a96b-4fe4-9b26-d24f576d4bf3","block_type":"box","text":"2)","page_number":124,"box":{"x":62,"y":191,"width":13,"height":11}},{"id":"bec36fbc-aa5f-47ce-a468-f4bbcacf2b45","block_type":"box","text":"Leverage Limits","page_number":124,"box":{"x":63,"y":218,"width":128,"height":11}},{"id":"b34511c8-57c4-4490-89c1-d4b87af46312","block_type":"box","text":"(Exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":124,"box":{"x":200,"y":218,"width":722,"height":11}},{"id":"80f32f1b-b01d-403f-b30d-bbebac4e37f8","block_type":"box","text":"Regime):","page_number":124,"box":{"x":63,"y":232,"width":65,"height":11}},{"id":"33c9e206-9f18-48f7-8765-ea5a3fe5ad25","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":124,"box":{"x":62,"y":259,"width":471,"height":11}},{"id":"15a98a6b-4c5c-4ae2-a019-d7393d9c4169","block_type":"box","text":"","page_number":124,"box":{"x":62,"y":290,"width":6,"height":5}},{"id":"b0587fef-c99d-4b3e-a9aa-de2f907eb47a","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":124,"box":{"x":92,"y":287,"width":193,"height":11}},{"id":"f35ef74d-03dc-4d35-8339-4c9a125462f4","block_type":"box","text":"","page_number":124,"box":{"x":62,"y":307,"width":6,"height":4}},{"id":"41113094-61f4-46c4-aee8-55a3454d72ad","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":124,"box":{"x":92,"y":304,"width":183,"height":11}},{"id":"128f6fac-5de9-4168-98d2-b4c74321ef49","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":124,"box":{"x":62,"y":331,"width":860,"height":12}},{"id":"27379d1c-6137-432b-9cc4-cd40b1307de1","block_type":"box","text":"which case leverage will not exceed the following:","page_number":124,"box":{"x":62,"y":345,"width":368,"height":11}},{"id":"42cf883c-ac1b-4109-a578-9b3c205bc001","block_type":"box","text":"","page_number":124,"box":{"x":62,"y":376,"width":6,"height":5}},{"id":"3ca91445-8fc7-4f10-af98-7965987f7303","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":124,"box":{"x":92,"y":373,"width":193,"height":11}},{"id":"2b3a2c52-f8e7-4916-a552-c57d4902f61e","block_type":"box","text":"","page_number":124,"box":{"x":62,"y":393,"width":6,"height":4}},{"id":"04d4d59d-4a54-46ea-8770-4d1177df9364","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":124,"box":{"x":92,"y":390,"width":183,"height":11}},{"id":"2393dbd5-99f7-469f-84f5-8008c568ff8c","block_type":"box","text":"Specific Risks","page_number":124,"box":{"x":62,"y":417,"width":113,"height":11}},{"id":"2259a8a1-288c-431c-8f3b-fb319fa09878","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":124,"box":{"x":181,"y":417,"width":462,"height":11}},{"id":"17d41daf-2ec8-40dd-bdd6-e8b2a5898393","block_type":"box","text":"","page_number":124,"box":{"x":62,"y":441,"width":6,"height":4}},{"id":"5615aafe-c172-46f6-9a33-3063e3cc7a72","block_type":"box","text":"Emerging Markets","page_number":124,"box":{"x":93,"y":438,"width":134,"height":11}},{"id":"a29191e4-f4e8-45d4-99bb-e6829466d399","block_type":"box","text":"","page_number":124,"box":{"x":62,"y":455,"width":6,"height":5}},{"id":"870d48ab-d32a-4e13-a305-bea4f9f67629","block_type":"box","text":"Smaller Companies","page_number":124,"box":{"x":92,"y":452,"width":145,"height":11}},{"id":"5223257a-02fe-492d-ad1c-b1cfe802888c","block_type":"box","text":"","page_number":124,"box":{"x":62,"y":470,"width":6,"height":4}},{"id":"abe19ea3-1a8d-4d2b-a343-25eebaaf823e","block_type":"box","text":"Stock Connect","page_number":124,"box":{"x":92,"y":467,"width":108,"height":8}},{"id":"9857d51f-59ab-408e-b495-b1b894b7acca","block_type":"box","text":"","page_number":124,"box":{"x":62,"y":484,"width":6,"height":4}},{"id":"3e93392d-a178-44f7-925a-20ef3ad331d4","block_type":"box","text":"Equity Securities","page_number":124,"box":{"x":93,"y":481,"width":123,"height":11}},{"id":"5ecea9be-beb4-427d-98bf-80814461196b","block_type":"box","text":"Past Performance – AI Global Equity Fund","page_number":124,"box":{"x":72,"y":515,"width":335,"height":11}},{"id":"f8a5532d-a5ae-4f72-838a-fe3ba9bcdebd","block_type":"box","text":"% Growth","page_number":124,"box":{"x":71,"y":535,"width":77,"height":8}},{"id":"4a57c15a-a59e-402a-950c-53fa3bd558eb","block_type":"box","text":"1/1/2024 to","page_number":124,"box":{"x":290,"y":560,"width":94,"height":8}},{"id":"76111e1d-35dd-46f8-bbfe-3c69f3c42876","block_type":"box","text":"31/12/2024","page_number":124,"box":{"x":289,"y":573,"width":75,"height":8}},{"id":"da87ebdb-4258-433d-93f6-3c64741f88a6","block_type":"box","text":"1/1/2023 to","page_number":124,"box":{"x":404,"y":560,"width":94,"height":8}},{"id":"9a3f44dc-7dda-49ee-83dc-902240aaf4d9","block_type":"box","text":"31/12/2023","page_number":124,"box":{"x":403,"y":573,"width":75,"height":8}},{"id":"8421e40a-3ee3-431f-b25e-9b42e6668ea3","block_type":"box","text":"1/1/2022 to","page_number":124,"box":{"x":517,"y":560,"width":94,"height":8}},{"id":"44a52927-decf-4ff3-a2ba-2979fded2268","block_type":"box","text":"31/12/2022","page_number":124,"box":{"x":516,"y":573,"width":75,"height":8}},{"id":"0fecd236-d5c6-4f3e-b573-146d829e6475","block_type":"box","text":"1/1/2021 to","page_number":124,"box":{"x":631,"y":560,"width":94,"height":8}},{"id":"af362d3a-94af-4b72-811c-fc55fd1f1c7a","block_type":"box","text":"31/12/2021","page_number":124,"box":{"x":630,"y":573,"width":73,"height":8}},{"id":"c0ddb47c-eeb6-49b7-b6bd-f2b47db8500e","block_type":"box","text":"1/1/2020 to","page_number":124,"box":{"x":744,"y":560,"width":94,"height":8}},{"id":"8db52f47-0a24-4c4e-823c-ae76e8266d60","block_type":"box","text":"31/12/2020","page_number":124,"box":{"x":743,"y":573,"width":75,"height":8}},{"id":"2032582e-9009-41d7-bfe9-77dd0444dfc5","block_type":"box","text":"UK Corporate Income","page_number":124,"box":{"x":72,"y":597,"width":198,"height":10}},{"id":"f88f5c6f-3ff3-4b8f-892d-8da7e581b4e0","block_type":"box","text":"Distribution Units (%)","page_number":124,"box":{"x":72,"y":610,"width":140,"height":10}},{"id":"ae038b77-9d29-47c8-b1c9-e906812a7c2c","block_type":"box","text":"23.56","page_number":124,"box":{"x":289,"y":598,"width":37,"height":7}},{"id":"8e8c5bba-9c37-4121-a62b-aba9c1894f4f","block_type":"box","text":"18.60","page_number":124,"box":{"x":404,"y":598,"width":36,"height":7}},{"id":"5bd44f16-a559-4651-b5ae-12f237ffb1c1","block_type":"box","text":"-10.11","page_number":124,"box":{"x":517,"y":598,"width":39,"height":7}},{"id":"00d7d5c6-f753-4f1d-b1a2-0060a52fb391","block_type":"box","text":"24.5","page_number":124,"box":{"x":630,"y":598,"width":28,"height":7}},{"id":"15019fe0-becd-4a9d-b2b4-3b5ad52ab2ae","block_type":"box","text":"21.7","page_number":124,"box":{"x":743,"y":598,"width":29,"height":7}},{"id":"b4cf2ae0-f834-4138-ad47-23e21ae61893","block_type":"box","text":"Insured Pension Income","page_number":124,"box":{"x":72,"y":640,"width":198,"height":8}},{"id":"8e65b2f3-b050-4547-bcfd-004172c3f4b0","block_type":"box","text":"Distribution Units (%)","page_number":124,"box":{"x":72,"y":653,"width":140,"height":10}},{"id":"341c00c1-6e1c-4306-ace6-b0c93bb736ea","block_type":"box","text":"23.69","page_number":124,"box":{"x":289,"y":641,"width":37,"height":7}},{"id":"7268f8e5-b091-4c86-b8e2-cebc76aacc65","block_type":"box","text":"18.74","page_number":124,"box":{"x":404,"y":641,"width":36,"height":7}},{"id":"e8161d7b-3d7a-4fe8-9f4e-fc952f4a4d03","block_type":"box","text":"-10.01","page_number":124,"box":{"x":517,"y":641,"width":39,"height":7}},{"id":"81a15116-ef53-42d1-83bc-a98bc8116ee7","block_type":"box","text":"24.6","page_number":124,"box":{"x":630,"y":641,"width":29,"height":7}},{"id":"a612db90-62f5-447a-947f-84f80601952f","block_type":"box","text":"21.9","page_number":124,"box":{"x":743,"y":641,"width":29,"height":7}},{"id":"64aa8ec6-0bf8-4896-9a14-6787476dc994","block_type":"box","text":"UK Institutional Accumulation","page_number":124,"box":{"x":72,"y":683,"width":198,"height":8}},{"id":"ee4bbce2-2320-4963-9788-a2be560641c8","block_type":"box","text":"Units (%)","page_number":124,"box":{"x":72,"y":696,"width":60,"height":10}},{"id":"835a4a0c-5df1-4e4a-b6a6-c0867f8367e1","block_type":"box","text":"23.50","page_number":124,"box":{"x":289,"y":684,"width":37,"height":7}},{"id":"aeac6777-fad2-4a87-bdc2-38ab2dfc8ac0","block_type":"box","text":"18.60","page_number":124,"box":{"x":404,"y":684,"width":36,"height":7}},{"id":"ba8a6da5-8c2a-4101-9e49-e493e2ce2d68","block_type":"box","text":"-10.13","page_number":124,"box":{"x":517,"y":684,"width":42,"height":7}},{"id":"461b19b0-cfde-45e2-b91c-fdba09a8b025","block_type":"box","text":"24.6","page_number":124,"box":{"x":630,"y":684,"width":29,"height":7}},{"id":"e04ece54-32d3-4931-bdb5-957db4fd7ede","block_type":"box","text":"21.7","page_number":124,"box":{"x":743,"y":684,"width":29,"height":7}},{"id":"fa7312bb-bdd3-4abd-8ba6-f03f2d0e77f2","block_type":"box","text":"ACS (Fund of Fund)","page_number":124,"box":{"x":71,"y":726,"width":199,"height":10}},{"id":"2afa0a83-303f-4ea5-8470-ab95bb38cad9","block_type":"box","text":"Accumulation Units Class 1","page_number":124,"box":{"x":71,"y":738,"width":197,"height":8}},{"id":"5b614de0-0752-402a-940e-dbae58aef972","block_type":"box","text":"(%)","page_number":124,"box":{"x":72,"y":751,"width":21,"height":10}},{"id":"f6749616-5a0e-4b80-a374-831f837f6f69","block_type":"box","text":"N/A","page_number":124,"box":{"x":290,"y":726,"width":24,"height":8}},{"id":"69e22194-cbde-4d35-8c92-cb8a3f432c60","block_type":"box","text":"ACS (Fund of Fund)","page_number":124,"box":{"x":71,"y":776,"width":199,"height":10}},{"id":"51e2f2cf-de68-4648-b71f-2c3c6014bc4f","block_type":"box","text":"Accumulation Units Class 2","page_number":124,"box":{"x":71,"y":788,"width":199,"height":8}},{"id":"24b083e2-38be-4089-8f6b-ab75cc4c21b8","block_type":"box","text":"(%)","page_number":124,"box":{"x":72,"y":800,"width":21,"height":10}},{"id":"a958148c-9f0e-4388-b4d0-734e93af5d54","block_type":"box","text":"N/A","page_number":124,"box":{"x":290,"y":776,"width":24,"height":8}},{"id":"4987b3e1-d3bd-4679-b73c-aaf0c22cf90d","block_type":"box","text":"UK Corporate Accumulation","page_number":124,"box":{"x":72,"y":825,"width":198,"height":10}},{"id":"a5461458-bc49-4cf3-b9db-c4ea98acad77","block_type":"box","text":"Units (%)","page_number":124,"box":{"x":72,"y":837,"width":60,"height":10}},{"id":"51436cf4-d9c7-4438-9742-e1bca5f3e354","block_type":"box","text":"23.66","page_number":124,"box":{"x":289,"y":825,"width":37,"height":8}},{"id":"27d0d546-a087-4cac-b373-3e6029259e4b","block_type":"box","text":"18.65","page_number":124,"box":{"x":404,"y":825,"width":36,"height":8}},{"id":"707de15f-a3eb-4b91-9a92-299cc745ce41","block_type":"box","text":"Insured Pension","page_number":124,"box":{"x":72,"y":868,"width":198,"height":8}},{"id":"34e743dc-5690-4554-8db5-15c222a873de","block_type":"box","text":"Accumulation Units (%)","page_number":124,"box":{"x":71,"y":880,"width":156,"height":10}},{"id":"c6ce0746-ddbf-4c59-bf5f-6082e129fed7","block_type":"box","text":"23.68","page_number":124,"box":{"x":289,"y":868,"width":37,"height":8}},{"id":"2c4a71a9-5412-4ca0-b7bc-e95c2abfdb1e","block_type":"box","text":"18.82","page_number":124,"box":{"x":404,"y":868,"width":36,"height":8}},{"id":"fc7d4146-b08e-4b8d-ad48-6ea1aca7feb7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":125,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"52c79ed8-ec34-4d2f-96e0-916a2237fd1c","block_type":"box","text":"125","page_number":125,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"5e3bdfb0-2077-42ef-a1df-9fd85b4aaec3","block_type":"box","text":"Aviva Investors: Confidential","page_number":125,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"9e3f2d70-96ac-4796-8662-ce70aa4cd32e","block_type":"box","text":"UK Fund of Fund","page_number":125,"box":{"x":72,"y":59,"width":198,"height":8}},{"id":"262904be-f7cd-454d-b807-fe9ec5e86fe8","block_type":"box","text":"Accumulation Units (%)","page_number":125,"box":{"x":71,"y":71,"width":156,"height":10}},{"id":"05d0634a-577e-4aaa-ab70-bb585326e5e6","block_type":"box","text":"Index - MSCI® World NDR","page_number":125,"box":{"x":72,"y":99,"width":200,"height":8}},{"id":"bd1d86fd-69a6-46e6-a3d4-4aa8539b858d","block_type":"box","text":"Total Return GBP Index","page_number":125,"box":{"x":73,"y":111,"width":160,"height":8}},{"id":"3b9c45ac-ab83-48c9-9081-8f78f5913568","block_type":"box","text":"19.60","page_number":125,"box":{"x":292,"y":99,"width":36,"height":8}},{"id":"d67fdba2-60d7-4e6b-9a39-1bfcfb43ed82","block_type":"box","text":"16.81","page_number":125,"box":{"x":406,"y":99,"width":34,"height":8}},{"id":"601d31d9-05e6-4bed-a2ad-98cbd85832ad","block_type":"box","text":"-7.83","page_number":125,"box":{"x":517,"y":99,"width":34,"height":8}},{"id":"fe7ae866-4e69-4522-bb8e-12c7537bb2af","block_type":"box","text":"22.9","page_number":125,"box":{"x":630,"y":99,"width":30,"height":8}},{"id":"e8304515-4600-47d0-8c22-40720fcc87ca","block_type":"box","text":"12.3","page_number":125,"box":{"x":746,"y":99,"width":27,"height":8}},{"id":"9efbdea7-9617-4582-b730-16c3747ebe3d","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":126,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"26cc6814-e52a-445d-ab9e-fbf589ac19d5","block_type":"box","text":"126","page_number":126,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"d33b1c0f-b1a2-46ae-96f1-3f320c93c702","block_type":"box","text":"Aviva Investors: Confidential","page_number":126,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"20ba5a05-3269-4b2f-ae92-45605727d827","block_type":"box","text":"AI Global Equity Growth Fund","page_number":126,"box":{"x":62,"y":53,"width":237,"height":11}},{"id":"9f1176c8-e0cf-4743-a9f2-d00969f41d8a","block_type":"box","text":"FCA product reference number: 658313","page_number":126,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"8c978ca3-a95f-40f5-a60d-811a36ba2d7a","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":126,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"c2b16167-1d66-41bc-99b8-9921c93e2bc7","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":126,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"708bd9af-f7d2-4888-bb72-d7d9cae02849","block_type":"box","text":"Investment Objective and Policy","page_number":126,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"c9ef834c-ba34-4677-adb5-30009e87bc6b","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of global","page_number":126,"box":{"x":62,"y":184,"width":860,"height":11}},{"id":"50af0360-e422-49a6-83e2-5e41beeafd0f","block_type":"box","text":"companies.","page_number":126,"box":{"x":62,"y":198,"width":84,"height":10}},{"id":"01dd6eeb-e5e7-4e4b-89a5-f41008b3f99d","block_type":"box","text":"Core investment:","page_number":126,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"5bfecab7-f164-4b2c-95bc-52f524031d9a","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of global companies. “Global companies” means companies","page_number":126,"box":{"x":62,"y":236,"width":861,"height":12}},{"id":"84085df5-80ce-4dd6-81cf-107454e8ae4d","block_type":"box","text":"in any country across the globe, including in emerging markets.","page_number":126,"box":{"x":62,"y":250,"width":467,"height":11}},{"id":"bb18c15d-c25b-4b9e-a445-b9b4f218872a","block_type":"box","text":"Other investments:","page_number":126,"box":{"x":62,"y":270,"width":151,"height":9}},{"id":"45f67fa2-b648-4f91-802f-714bb488a09e","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by the Investment Manager),","page_number":126,"box":{"x":62,"y":289,"width":860,"height":12}},{"id":"7e6c3c25-e01b-4f8a-a4de-ace2a577e819","block_type":"box","text":"derivatives, cash and deposits.","page_number":126,"box":{"x":62,"y":303,"width":228,"height":11}},{"id":"21a5c30b-0031-4e4f-9e2b-1f81fb91bc74","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":126,"box":{"x":63,"y":323,"width":860,"height":11}},{"id":"975e9281-3623-4477-a4c6-dd8042940765","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":126,"box":{"x":62,"y":336,"width":861,"height":12}},{"id":"712ddaa0-6c99-4487-a590-3a94959f16fc","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":126,"box":{"x":62,"y":350,"width":545,"height":11}},{"id":"d3631a3d-cd15-4409-9b0a-4bf1b9ff551f","block_type":"box","text":"Strategy:","page_number":126,"box":{"x":62,"y":369,"width":70,"height":12}},{"id":"a375b834-c7d2-4369-b8ca-8e616805a44d","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager aims to achieve the Sub-Fund’s objective by","page_number":126,"box":{"x":62,"y":389,"width":861,"height":11}},{"id":"3f3af39d-e284-4c83-982f-1e0068ad5d3b","block_type":"box","text":"constructing a diverse portfolio of large-cap global stocks, with a focus on those companies which will deliver positive","page_number":126,"box":{"x":62,"y":403,"width":861,"height":11}},{"id":"d98adcb5-0e0a-48cb-a6d8-307fb094f89c","block_type":"box","text":"earnings growth that has not been factored in by the market (the Investment Manager terms this ‘a positive growth","page_number":126,"box":{"x":62,"y":416,"width":860,"height":12}},{"id":"4ba01da1-3ed6-4f6d-a08c-ba7ddd305cbd","block_type":"box","text":"gap’). The Investment Manager believes such stocks will outperform as their growth characteristics are recognised","page_number":126,"box":{"x":62,"y":430,"width":860,"height":11}},{"id":"bb284530-3fc3-49e8-a346-ec198533b319","block_type":"box","text":"by the market.","page_number":126,"box":{"x":62,"y":444,"width":104,"height":11}},{"id":"6f4b4a10-48b0-4a37-bcd6-c6ab2d8c7639","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":126,"box":{"x":62,"y":463,"width":527,"height":12}},{"id":"d4caac1c-15a0-492b-9672-440a25c5f0e8","block_type":"box","text":"please see Appendix 2 for information on","page_number":126,"box":{"x":594,"y":464,"width":328,"height":11}},{"id":"28ca42c7-ae6a-4241-aaaa-23a25da0fed5","block_type":"box","text":"these limited investment restrictions.","page_number":126,"box":{"x":62,"y":477,"width":295,"height":9}},{"id":"5a3cbb0a-7d27-42b3-bacd-b1d9b8bc8f66","block_type":"box","text":"Performance & Risk Measurement:","page_number":126,"box":{"x":63,"y":497,"width":275,"height":9}},{"id":"3be4c38f-f24a-409f-ab1f-5aa3379fbc2c","block_type":"box","text":"The Sub-Fund’s performance is compared against the MSCI® World NDR Total Return GBP Index (the “Index”)","page_number":126,"box":{"x":62,"y":516,"width":828,"height":12}},{"id":"b930619c-0275-48e1-80b5-28056e37c886","block_type":"box","text":"□","page_number":126,"box":{"x":892,"y":518,"width":5,"height":3}},{"id":"80b7f884-219c-44e8-98ee-97266e72053c","block_type":"box","text":".","page_number":126,"box":{"x":899,"y":524,"width":2,"height":1}},{"id":"1299fd65-fd92-4a17-9978-96fbff2d4c36","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":126,"box":{"x":62,"y":536,"width":860,"height":11}},{"id":"3d947aa6-e5fc-4736-a0a4-8548f39ec119","block_type":"box","text":"may also hold companies that do not form part of it. The Investment Manager may not invest more than 7% of the","page_number":126,"box":{"x":62,"y":550,"width":861,"height":11}},{"id":"0fabae92-9605-457d-86cf-59ec7464ca92","block_type":"box","text":"Sub-Fund in a single stock, and specifically excludes Tobacco stocks. The Sub-Fund will not invest in shares of","page_number":126,"box":{"x":62,"y":563,"width":861,"height":11}},{"id":"19f0f93e-f28a-4579-b6c3-23c394608086","block_type":"box","text":"companies within the Aviva Group.","page_number":126,"box":{"x":62,"y":577,"width":256,"height":11}},{"id":"20227baa-128a-4831-86a3-b8893c049dfb","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":126,"box":{"x":62,"y":596,"width":861,"height":12}},{"id":"64dad1ea-be1e-44df-bd8c-a6ffd0cfd155","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":126,"box":{"x":63,"y":610,"width":859,"height":11}},{"id":"9c3972e6-d282-4c5c-ae5b-1ae42b43e924","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2% and 5% when","page_number":126,"box":{"x":62,"y":624,"width":860,"height":11}},{"id":"c9ba9a12-5c1c-4e67-b527-0929e97e71aa","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":126,"box":{"x":62,"y":637,"width":650,"height":12}},{"id":"ffd3b125-d1e4-402f-ad77-a9bb1df24903","block_type":"box","text":"The Index comprises large and medium sized companies, as determined by their market capitalisation (total market","page_number":126,"box":{"x":62,"y":657,"width":861,"height":11}},{"id":"203b3174-8b44-4d5b-ad27-469a05edf7f8","block_type":"box","text":"value of a company's outstanding shares), from developed countries, and the Index is designed to provide a broad","page_number":126,"box":{"x":62,"y":671,"width":860,"height":11}},{"id":"34433911-6d8b-4c73-8543-31a35625b7c5","block_type":"box","text":"measure of global equity market performance.","page_number":126,"box":{"x":62,"y":684,"width":340,"height":12}},{"id":"e22b861e-0af3-4d64-a8d7-aad740cc0738","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":126,"box":{"x":62,"y":704,"width":861,"height":11}},{"id":"6dc0597b-af36-4fe4-b6cc-42ec267395f5","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the","page_number":126,"box":{"x":62,"y":717,"width":861,"height":12}},{"id":"9f885116-ba02-4945-aac9-ed6f8594fc4b","block_type":"box","text":"Sub-Fund’s performance.","page_number":126,"box":{"x":62,"y":731,"width":187,"height":11}},{"id":"a7229332-f866-4400-b425-e9a66b5beb16","block_type":"box","text":"Additional Information","page_number":126,"box":{"x":62,"y":770,"width":177,"height":9}},{"id":"123778bb-f838-42b1-8b17-6a02b2ae019e","block_type":"box","text":"Investment Manager","page_number":126,"box":{"x":118,"y":797,"width":151,"height":11}},{"id":"16c56c98-0138-4ac1-b2b4-bb933c2e1e88","block_type":"box","text":"Schroder Investment Management Limited","page_number":126,"box":{"x":353,"y":796,"width":315,"height":12}},{"id":"a3d8bfff-e8e5-4c77-9e25-e4e8c16b05af","block_type":"box","text":"Type of Units","page_number":126,"box":{"x":116,"y":823,"width":98,"height":11}},{"id":"b248f985-6f0b-4a7e-9560-cd58b3602ca6","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":126,"box":{"x":353,"y":823,"width":292,"height":11}},{"id":"56c0ecc5-2290-4679-ab5a-745661a38a9d","block_type":"box","text":"UK Institutional Accumulation Units","page_number":126,"box":{"x":353,"y":849,"width":260,"height":9}},{"id":"2f58c684-2d0d-4c93-a0db-30e8ff4e696a","block_type":"box","text":"Dealing Day","page_number":126,"box":{"x":118,"y":875,"width":89,"height":11}},{"id":"3b6646e0-4c34-458a-8396-fcd49b3e6d70","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":126,"box":{"x":354,"y":875,"width":393,"height":11}},{"id":"ab5b44f7-4761-4962-a599-8a3373170b7c","block_type":"box","text":"Deal Cut-Off Point","page_number":126,"box":{"x":118,"y":901,"width":134,"height":9}},{"id":"221ffc54-a4c2-439f-9537-e7aa9978c6c7","block_type":"box","text":"2.00 p.m.","page_number":126,"box":{"x":353,"y":901,"width":67,"height":11}},{"id":"37b77fbf-3386-4d52-a854-fc213a103343","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":127,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"ad64bbc8-b95a-45e0-867f-49fcc82c5247","block_type":"box","text":"127","page_number":127,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"8d85880b-fd20-421e-b1e8-d5bc6cbbf72f","block_type":"box","text":"Aviva Investors: Confidential","page_number":127,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"86011728-9795-4058-a291-9c68d7328602","block_type":"box","text":"Valuation Point","page_number":127,"box":{"x":117,"y":59,"width":112,"height":9}},{"id":"d5f196cf-dfbb-4c5b-aeaf-3266ff6cf8e7","block_type":"box","text":"3.00 p.m.","page_number":127,"box":{"x":353,"y":59,"width":67,"height":11}},{"id":"8499492b-add9-4aa9-841b-ac6dc0b4806a","block_type":"box","text":"*Minimum Investment","page_number":127,"box":{"x":117,"y":85,"width":172,"height":9}},{"id":"4223f0f5-4877-45e4-9d02-8afc181fbfef","block_type":"box","text":"UK Corporate Income","page_number":127,"box":{"x":118,"y":111,"width":160,"height":11}},{"id":"d2045cb0-d80c-400f-8340-ae5fcacf4d5c","block_type":"box","text":"Distribution Units, UK","page_number":127,"box":{"x":118,"y":125,"width":158,"height":10}},{"id":"bf13850f-4b77-4886-a06d-d097bf123009","block_type":"box","text":"Institutional Accumulation","page_number":127,"box":{"x":118,"y":139,"width":187,"height":8}},{"id":"97500d57-80d6-4ae9-9363-80b39fb5d965","block_type":"box","text":"Units","page_number":127,"box":{"x":118,"y":152,"width":36,"height":9}},{"id":"e8229089-697a-4ee1-96d2-433ba6e6b5a7","block_type":"box","text":"No minimum","page_number":127,"box":{"x":353,"y":111,"width":92,"height":9}},{"id":"0aa6b0f4-ad36-4f09-85a9-95a59801e0b1","block_type":"box","text":"Minimum withdrawal","page_number":127,"box":{"x":117,"y":179,"width":150,"height":8}},{"id":"97887831-7758-4513-92a1-c7ba811322ac","block_type":"box","text":"No minimum","page_number":127,"box":{"x":353,"y":179,"width":92,"height":8}},{"id":"bbc063a1-bb7a-451e-964a-8192a1445972","block_type":"box","text":"Tax Criteria for investment","page_number":127,"box":{"x":116,"y":205,"width":213,"height":8}},{"id":"3e3d7393-f271-4e92-9d3b-09c0d0108ba5","block_type":"box","text":"UK Corporate Income","page_number":127,"box":{"x":118,"y":230,"width":160,"height":12}},{"id":"4897f96a-14ad-43c5-8f33-4d07b7aae2e9","block_type":"box","text":"Distribution Units","page_number":127,"box":{"x":118,"y":244,"width":124,"height":9}},{"id":"4f6f0166-7663-4381-b5ee-76747c225edb","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":127,"box":{"x":352,"y":231,"width":404,"height":11}},{"id":"7ef68822-6ab2-4951-8453-5bad7d0de92e","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":127,"box":{"x":353,"y":244,"width":404,"height":11}},{"id":"16536d14-4a86-4900-9e7f-02c5e91f6156","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":127,"box":{"x":352,"y":258,"width":405,"height":11}},{"id":"52d5e211-d2a6-48e6-924a-89a545bedbad","block_type":"box","text":"linked pension business contracts.","page_number":127,"box":{"x":353,"y":272,"width":253,"height":11}},{"id":"0d6db8de-10e8-4708-bbed-6db4de44e884","block_type":"box","text":"UK Institutional","page_number":127,"box":{"x":118,"y":298,"width":110,"height":9}},{"id":"3eb6d58e-3a9c-44a2-94ff-95431823b7f3","block_type":"box","text":"Accumulation Units","page_number":127,"box":{"x":116,"y":312,"width":143,"height":8}},{"id":"4a8c99f0-33cc-466d-b47c-9a3e07c8e16c","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":127,"box":{"x":352,"y":298,"width":404,"height":11}},{"id":"42992b7b-a77e-49f0-81b8-bf286f294f8a","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":127,"box":{"x":353,"y":311,"width":403,"height":12}},{"id":"e54c4ab4-fece-4de5-bdb6-a8520a02d4b0","block_type":"box","text":"tax treaties.","page_number":127,"box":{"x":352,"y":325,"width":85,"height":9}},{"id":"67865b3e-df14-41b4-8858-f37778e21ed4","block_type":"box","text":"**Current Charges:","page_number":127,"box":{"x":117,"y":357,"width":149,"height":11}},{"id":"c091e270-1ef9-4f2d-a22d-125d1517df1f","block_type":"box","text":"UK Corporate Income","page_number":127,"box":{"x":118,"y":383,"width":160,"height":11}},{"id":"4be4b2a4-39df-4f4e-b1e5-6472203512c3","block_type":"box","text":"Distribution Units, UK","page_number":127,"box":{"x":118,"y":397,"width":158,"height":10}},{"id":"a104767a-93e7-4b8d-a49a-997f87cbf9fa","block_type":"box","text":"Institutional Accumulation","page_number":127,"box":{"x":118,"y":411,"width":187,"height":8}},{"id":"c8413e8e-9294-4d17-a3f7-6625e52e9802","block_type":"box","text":"Units","page_number":127,"box":{"x":118,"y":424,"width":36,"height":9}},{"id":"a6bed8c5-6ed7-4c0c-abdf-b08d21b22e76","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":127,"box":{"x":352,"y":383,"width":404,"height":11}},{"id":"df94518e-4a5b-4f3b-91a0-3cf55ca1686e","block_type":"box","text":"Unitholder","page_number":127,"box":{"x":353,"y":397,"width":75,"height":9}},{"id":"1467c386-d37b-4b50-a981-f01310dd5c17","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":127,"box":{"x":352,"y":416,"width":404,"height":12}},{"id":"a2e1da67-5f0e-4fc7-be03-24e432c42ef2","block_type":"box","text":"property","page_number":127,"box":{"x":353,"y":431,"width":60,"height":10}},{"id":"12cca678-4d2c-40d5-98c8-d7c036eb237f","block_type":"box","text":"Accounting Dates","page_number":127,"box":{"x":117,"y":476,"width":141,"height":11}},{"id":"06d31f3f-f275-4001-b9e4-892fca2c2698","block_type":"box","text":"Annual Accounting Date","page_number":127,"box":{"x":116,"y":502,"width":180,"height":11}},{"id":"1efe7f93-0864-42a7-a576-f9e03949cf46","block_type":"box","text":"31 December","page_number":127,"box":{"x":353,"y":502,"width":100,"height":9}},{"id":"c790e631-d6c6-4e39-8bcc-a2da7ebaa4e4","block_type":"box","text":"First Accounting Date","page_number":127,"box":{"x":118,"y":528,"width":158,"height":11}},{"id":"5e8ae66a-d8ef-42c8-8677-02c07d50cb62","block_type":"box","text":"31 December 2015","page_number":127,"box":{"x":353,"y":528,"width":141,"height":9}},{"id":"9d9eecdb-87bc-4d32-b92a-14d247cdee83","block_type":"box","text":"Annual Income Allocation","page_number":127,"box":{"x":116,"y":554,"width":188,"height":9}},{"id":"954e06f7-dd39-47b1-8ee0-dee0abd51666","block_type":"box","text":"Date","page_number":127,"box":{"x":118,"y":568,"width":33,"height":9}},{"id":"1d8bdf03-7b36-4cda-83f2-a2bf485b22bf","block_type":"box","text":"On or before 28 /29 February","page_number":127,"box":{"x":353,"y":554,"width":217,"height":12}},{"id":"5a48e469-60ef-458a-b511-426a2a801a51","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":127,"box":{"x":118,"y":594,"width":293,"height":11}},{"id":"f9ea9079-a954-4f7a-86d1-31f62b33f8b2","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":127,"box":{"x":62,"y":620,"width":861,"height":11}},{"id":"a79e92c3-aedf-467b-9b28-f11bdaaf8294","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":127,"box":{"x":62,"y":634,"width":408,"height":11}},{"id":"d9a85c6a-e373-4bae-9cd3-c88cfbc2b0cf","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":127,"box":{"x":62,"y":653,"width":642,"height":12}},{"id":"fc9eabbe-c07b-4a85-aeef-ec3009985a1f","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":127,"box":{"x":62,"y":673,"width":860,"height":11}},{"id":"f0c58937-443d-450c-8315-809b515bce81","block_type":"box","text":"this Prospectus.","page_number":127,"box":{"x":62,"y":687,"width":117,"height":11}},{"id":"8952d622-f6c4-4372-8398-046fac80a05e","block_type":"box","text":"□","page_number":127,"box":{"x":62,"y":702,"width":5,"height":3}},{"id":"5738b01e-6fad-4dd5-82b9-7b150b0d6198","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":127,"box":{"x":74,"y":700,"width":342,"height":9}},{"id":"d7336385-d795-421d-a731-1e790d3540ae","block_type":"box","text":"Securities Financing and other Transactions:","page_number":127,"box":{"x":62,"y":720,"width":358,"height":11}},{"id":"cf927c7a-eb05-47e7-bc36-cdfb1d02e6cc","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":127,"box":{"x":62,"y":740,"width":860,"height":11}},{"id":"6ba28168-3781-4906-9241-93ef943b7599","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":127,"box":{"x":62,"y":753,"width":438,"height":11}},{"id":"c441f9ef-ecf0-4c4a-8d6c-434da3970d95","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":127,"box":{"x":62,"y":792,"width":861,"height":12}},{"id":"a10eab98-f2e2-4417-bcf1-0437f07802ee","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":127,"box":{"x":62,"y":806,"width":860,"height":11}},{"id":"7f7070a9-8082-4cc1-93c1-37314fbab6b0","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":127,"box":{"x":62,"y":820,"width":861,"height":11}},{"id":"b55ec11b-ea0c-47bf-98f5-9d67198bf02d","block_type":"box","text":"15%.","page_number":127,"box":{"x":63,"y":834,"width":35,"height":8}},{"id":"192f83f5-493b-4741-a145-7b83a6c34883","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":127,"box":{"x":62,"y":873,"width":860,"height":11}},{"id":"0571fa09-02e5-4f33-a239-5196554d3614","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":127,"box":{"x":62,"y":886,"width":860,"height":11}},{"id":"da806c32-1024-4171-981b-2ae8a369c487","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":128,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"975fab75-194a-4af6-bd15-c035701b2bc3","block_type":"box","text":"128","page_number":128,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"4be88b02-49bb-4aeb-8ae1-099a4b96d958","block_type":"box","text":"Aviva Investors: Confidential","page_number":128,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"ea74eb61-9ea0-4d04-bd5d-9eaf6f4eff2c","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":128,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"1079017d-973d-4c98-9529-047812ed0f7a","block_type":"box","text":"is zero.","page_number":128,"box":{"x":62,"y":66,"width":52,"height":9}},{"id":"b6d0a99b-9701-4658-a201-e11b62b6a5b8","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":128,"box":{"x":62,"y":125,"width":249,"height":9}},{"id":"0c656702-3091-4bff-b72d-fc9350c48eeb","block_type":"box","text":"Leverage","page_number":128,"box":{"x":63,"y":164,"width":72,"height":11}},{"id":"308a7cba-7044-487c-817e-0f3c0859d3e4","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":128,"box":{"x":63,"y":184,"width":860,"height":11}},{"id":"4d15dd0e-dbc3-4c74-8261-13561d52e4dc","block_type":"box","text":"management.","page_number":128,"box":{"x":62,"y":198,"width":101,"height":11}},{"id":"f9fb5eee-d741-4d07-9cda-8955c800c2fd","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":128,"box":{"x":62,"y":230,"width":860,"height":12}},{"id":"d39e55c4-b6b8-4414-af6a-632fab851d3c","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":128,"box":{"x":62,"y":244,"width":649,"height":11}},{"id":"e667fdd1-e108-49eb-90d2-66057330bf0c","block_type":"box","text":"All transactions in derivatives are fully covered, and are not used as a means of gearing the Sub-Fund.","page_number":128,"box":{"x":62,"y":272,"width":760,"height":11}},{"id":"d09f0c86-bf12-4112-9921-6e8d8ee018e6","block_type":"box","text":"Permitted derivatives","page_number":128,"box":{"x":72,"y":302,"width":168,"height":8}},{"id":"5a7ff38a-f6d3-419d-9e5c-44c8d7838855","block_type":"box","text":"Permitted?","page_number":128,"box":{"x":383,"y":302,"width":85,"height":8}},{"id":"0e6d25af-770b-40a1-bc5f-a3ddd81f7a92","block_type":"box","text":"Prohibited?","page_number":128,"box":{"x":489,"y":302,"width":91,"height":8}},{"id":"35e82480-5fe5-4056-b15b-f5fcff530b52","block_type":"box","text":"Equity index futures","page_number":128,"box":{"x":72,"y":322,"width":146,"height":11}},{"id":"f59ec5d0-3381-40fc-8161-fd1a0d96e481","block_type":"box","text":"√","page_number":128,"box":{"x":421,"y":322,"width":8,"height":8}},{"id":"6061723e-9328-4a82-a43e-53724b4ebf8b","block_type":"box","text":"Government bond futures","page_number":128,"box":{"x":72,"y":340,"width":188,"height":9}},{"id":"7b212e5a-f1ba-4364-9321-635b0cec8aca","block_type":"box","text":"√","page_number":128,"box":{"x":530,"y":341,"width":8,"height":8}},{"id":"895dc80c-bed5-4970-b515-62d30fab66fa","block_type":"box","text":"Equity index options","page_number":128,"box":{"x":72,"y":359,"width":148,"height":11}},{"id":"3eb84437-bc10-44b7-826b-e2dd1955f9eb","block_type":"box","text":"√","page_number":128,"box":{"x":421,"y":359,"width":8,"height":8}},{"id":"b203c61d-af8e-4ab1-a2fc-47e3d0158c0b","block_type":"box","text":"Forward foreign exchange","page_number":128,"box":{"x":72,"y":377,"width":193,"height":11}},{"id":"d725e5e7-5d07-4912-a2b2-af6b1b95af8c","block_type":"box","text":"√","page_number":128,"box":{"x":421,"y":378,"width":8,"height":7}},{"id":"5a0d2802-9ac0-4aa2-88d7-2903b52c810b","block_type":"box","text":"Index credit default swaps","page_number":128,"box":{"x":72,"y":396,"width":192,"height":11}},{"id":"876d807f-2b3d-473b-abfd-6c35823ad634","block_type":"box","text":"√","page_number":128,"box":{"x":530,"y":396,"width":8,"height":8}},{"id":"1c4d850d-13c4-4d80-b850-faa2f874937e","block_type":"box","text":"Interest rate swaps","page_number":128,"box":{"x":72,"y":414,"width":140,"height":11}},{"id":"f14000b8-eb01-4e07-9b9c-80e3530448bc","block_type":"box","text":"√","page_number":128,"box":{"x":530,"y":415,"width":8,"height":7}},{"id":"e0d352e5-7533-4244-bf7b-78cc805617dc","block_type":"box","text":"OTC equity options","page_number":128,"box":{"x":72,"y":432,"width":142,"height":12}},{"id":"06f3e1fd-fce0-40eb-a314-e2746e4f6905","block_type":"box","text":"√","page_number":128,"box":{"x":421,"y":433,"width":8,"height":8}},{"id":"362ad55d-5324-455b-9d73-24dd0cfcbee2","block_type":"box","text":"Inflation swaps","page_number":128,"box":{"x":72,"y":451,"width":109,"height":11}},{"id":"b184efe0-1faa-48c0-ad25-2367f867afbf","block_type":"box","text":"√","page_number":128,"box":{"x":530,"y":451,"width":8,"height":8}},{"id":"9ad1f5b6-7643-4a2b-bed9-7a1ca866a899","block_type":"box","text":"Cross currency swaps","page_number":128,"box":{"x":72,"y":469,"width":163,"height":11}},{"id":"4392062c-8458-43ba-87be-f5c018ccd55d","block_type":"box","text":"√","page_number":128,"box":{"x":530,"y":470,"width":8,"height":7}},{"id":"99bcd51e-dea8-47d0-99f2-d2e0caff80af","block_type":"box","text":"Other","page_number":128,"box":{"x":72,"y":488,"width":41,"height":9}},{"id":"4132dac0-4956-4bbc-8f29-9de93b29379b","block_type":"box","text":"√","page_number":128,"box":{"x":530,"y":488,"width":8,"height":8}},{"id":"c9dd1faa-e4e0-4fc8-a0a1-388e1816b9f1","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":128,"box":{"x":63,"y":516,"width":860,"height":11}},{"id":"84e563f3-0455-4f4d-993a-9be3bf3f1709","block_type":"box","text":"2)","page_number":128,"box":{"x":62,"y":529,"width":13,"height":11}},{"id":"36bf56d5-5f2f-491d-a3a6-93da4154c0d2","block_type":"box","text":"Leverage Limits","page_number":128,"box":{"x":63,"y":557,"width":128,"height":11}},{"id":"22759340-65de-4b16-8acb-d125bf717166","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":128,"box":{"x":200,"y":557,"width":722,"height":11}},{"id":"d01d443a-1684-40f1-ba77-2b7a1a27a619","block_type":"box","text":"Regime):","page_number":128,"box":{"x":63,"y":570,"width":65,"height":12}},{"id":"f3ca485d-6906-4697-b0f2-c2a8f23dcb6e","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":128,"box":{"x":62,"y":597,"width":471,"height":12}},{"id":"1302707c-01c8-4d42-9b24-a1e01a3cd6dc","block_type":"box","text":"","page_number":128,"box":{"x":62,"y":629,"width":6,"height":4}},{"id":"b3c48f1d-4755-4e55-90dd-0897c76129d6","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":128,"box":{"x":92,"y":626,"width":193,"height":11}},{"id":"ae77ebf9-7232-41cd-b7a9-00809cb093df","block_type":"box","text":"","page_number":128,"box":{"x":62,"y":645,"width":6,"height":5}},{"id":"a1963f67-6a54-4e0b-883a-54b1096579d9","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":128,"box":{"x":92,"y":642,"width":183,"height":11}},{"id":"aeee6e90-2fd5-409d-a93b-f86996871cbc","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":128,"box":{"x":62,"y":683,"width":860,"height":12}},{"id":"f1c8453d-9e78-4208-8767-c2b072684318","block_type":"box","text":"which case leverage will not exceed the following:","page_number":128,"box":{"x":62,"y":697,"width":368,"height":11}},{"id":"a8ddd352-e0d5-4497-ba1a-3f8525ffd311","block_type":"box","text":"","page_number":128,"box":{"x":62,"y":728,"width":6,"height":5}},{"id":"18a17cf5-a23e-465e-907a-d0246c7d5959","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":128,"box":{"x":92,"y":725,"width":193,"height":11}},{"id":"7edf02d9-9ccf-4a34-91b1-5e9998c7ee40","block_type":"box","text":"","page_number":128,"box":{"x":62,"y":745,"width":6,"height":4}},{"id":"b819437b-001c-40d7-8162-db691b4bba66","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":128,"box":{"x":92,"y":742,"width":183,"height":11}},{"id":"97973c38-f079-45b3-9083-6756a254e107","block_type":"box","text":"Specific Risks","page_number":128,"box":{"x":62,"y":769,"width":113,"height":11}},{"id":"99a7e905-9c38-40bf-bdb3-f11e8e901587","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":128,"box":{"x":181,"y":769,"width":462,"height":11}},{"id":"ec6a8cb6-8a22-4606-bf09-ba07bdd6de4d","block_type":"box","text":"","page_number":128,"box":{"x":62,"y":793,"width":6,"height":4}},{"id":"44761fee-7754-45f7-9267-c3bad0288ce1","block_type":"box","text":"Emerging Markets","page_number":128,"box":{"x":93,"y":790,"width":134,"height":11}},{"id":"a0e89ce5-2c63-4bbf-8f92-e3fd6219a812","block_type":"box","text":"","page_number":128,"box":{"x":62,"y":807,"width":6,"height":5}},{"id":"b6bc6d6a-d25a-408c-94ea-c8546ee76719","block_type":"box","text":"Smaller Companies","page_number":128,"box":{"x":92,"y":804,"width":145,"height":11}},{"id":"b6451fc9-8ef7-4fee-93f4-0a5d00477c47","block_type":"box","text":"","page_number":128,"box":{"x":62,"y":822,"width":6,"height":4}},{"id":"d0774e93-039f-4e64-afdf-35d9ebb1c34e","block_type":"box","text":"Concentration","page_number":128,"box":{"x":92,"y":819,"width":103,"height":9}},{"id":"637489fb-be5c-4c6c-9405-ca08c07866cc","block_type":"box","text":"","page_number":128,"box":{"x":62,"y":836,"width":6,"height":5}},{"id":"abc36395-eb6e-44d4-85bc-43fd8a30719a","block_type":"box","text":"Equity Securities","page_number":128,"box":{"x":93,"y":833,"width":123,"height":11}},{"id":"1aa01735-5318-4cdb-889e-fcd286f87d9c","block_type":"box","text":"","page_number":128,"box":{"x":62,"y":851,"width":6,"height":4}},{"id":"38a678ec-9f36-4dda-b319-4a4846eb69a7","block_type":"box","text":"Stock Connect","page_number":128,"box":{"x":92,"y":848,"width":108,"height":9}},{"id":"2ad516eb-698c-4ac3-8fe5-0db5c89b0f3f","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":129,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"d2fb5b5a-7dbb-45d3-8bab-6459e9eaf0e1","block_type":"box","text":"129","page_number":129,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"ca186940-39db-4c32-87be-ba330c6aa850","block_type":"box","text":"Aviva Investors: Confidential","page_number":129,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"a589c255-3a59-49f0-b250-573cdd8c1b0a","block_type":"box","text":"Past Performance – AI Global Equity Growth Fund","page_number":129,"box":{"x":72,"y":59,"width":398,"height":11}},{"id":"13422628-76ac-4218-8e20-98a19e70be62","block_type":"box","text":"% Growth","page_number":129,"box":{"x":71,"y":79,"width":77,"height":9}},{"id":"39b94a85-e3db-4600-80fb-cdf3bd5a4840","block_type":"box","text":"1/1/2024 to","page_number":129,"box":{"x":290,"y":104,"width":94,"height":8}},{"id":"5cd4e6bc-43a5-47ba-983d-e4cc55d69722","block_type":"box","text":"31/12/2024","page_number":129,"box":{"x":289,"y":117,"width":75,"height":8}},{"id":"f014f9af-3443-43b4-b411-d009299d5032","block_type":"box","text":"1/1/2023 to","page_number":129,"box":{"x":404,"y":104,"width":94,"height":8}},{"id":"d53c0425-2934-4d6b-a403-8e07a2d6cc07","block_type":"box","text":"31/12/2023","page_number":129,"box":{"x":403,"y":117,"width":75,"height":8}},{"id":"f5d8aebe-b97d-41cd-8db0-b6a7ea02e814","block_type":"box","text":"1/1/2022 to","page_number":129,"box":{"x":517,"y":104,"width":94,"height":8}},{"id":"02662f20-9ab2-4075-aa48-0b0e4beb807b","block_type":"box","text":"31/12/2022","page_number":129,"box":{"x":516,"y":117,"width":75,"height":8}},{"id":"808efc28-64e2-4c49-82d1-fb32c6003241","block_type":"box","text":"1/1/2021 to","page_number":129,"box":{"x":631,"y":104,"width":94,"height":8}},{"id":"460d0add-5a9b-47b6-943e-8c654d975a43","block_type":"box","text":"31/12/2021","page_number":129,"box":{"x":630,"y":117,"width":73,"height":8}},{"id":"ef8f5914-b47f-41b4-943f-f053528e868a","block_type":"box","text":"1/1/2020 to","page_number":129,"box":{"x":744,"y":104,"width":94,"height":8}},{"id":"a53b5b6a-43b3-4cf9-b871-480788f80438","block_type":"box","text":"31/12/2020","page_number":129,"box":{"x":743,"y":117,"width":75,"height":8}},{"id":"c856d937-97c5-4e70-a0a1-a01ea934d84b","block_type":"box","text":"UK Corporate Income","page_number":129,"box":{"x":72,"y":141,"width":198,"height":11}},{"id":"83ba2db5-5d17-4e0f-b683-a7693f759355","block_type":"box","text":"Distribution Units (%)","page_number":129,"box":{"x":72,"y":154,"width":140,"height":10}},{"id":"25b79e1f-6cfd-473f-824d-d9d7be40c403","block_type":"box","text":"24.22","page_number":129,"box":{"x":289,"y":142,"width":37,"height":7}},{"id":"4728d43f-6f7d-4cf3-b4b7-d3de1ca722bc","block_type":"box","text":"19.18","page_number":129,"box":{"x":404,"y":142,"width":36,"height":8}},{"id":"10dd6b7d-7f48-455d-97a2-9d8710064345","block_type":"box","text":"-9.59","page_number":129,"box":{"x":517,"y":142,"width":33,"height":8}},{"id":"f05790b0-0a15-45f6-9e49-b5d8394bc1d6","block_type":"box","text":"25.8","page_number":129,"box":{"x":630,"y":142,"width":29,"height":8}},{"id":"a3528eea-9dda-4fd5-b63a-208d96cc86d6","block_type":"box","text":"19.7","page_number":129,"box":{"x":744,"y":142,"width":28,"height":8}},{"id":"a3689043-c905-41bd-8174-c0b9ad5b83e7","block_type":"box","text":"Insured Pension Income","page_number":129,"box":{"x":72,"y":185,"width":198,"height":7}},{"id":"c626e06d-e163-4107-9372-b076de930a69","block_type":"box","text":"Distribution Units (%)","page_number":129,"box":{"x":72,"y":197,"width":140,"height":10}},{"id":"3c0e3ff5-fc82-43de-b309-e2b8251a055c","block_type":"box","text":"UK Institutional Accumulation","page_number":129,"box":{"x":72,"y":222,"width":198,"height":8}},{"id":"8b4d5c13-73fe-4e6b-807a-be5afe15f22f","block_type":"box","text":"Units (%)","page_number":129,"box":{"x":72,"y":234,"width":60,"height":10}},{"id":"d3275bcf-9787-4012-b1dc-01743ad8bb17","block_type":"box","text":"23.93","page_number":129,"box":{"x":289,"y":222,"width":38,"height":8}},{"id":"3d47a590-86fa-41fc-86c2-9fcba00fb87a","block_type":"box","text":"19.13","page_number":129,"box":{"x":404,"y":222,"width":36,"height":8}},{"id":"8b804d85-0194-4954-8e32-481e70aebfd8","block_type":"box","text":"-9.63","page_number":129,"box":{"x":517,"y":222,"width":33,"height":8}},{"id":"e1b7dd49-e29c-4357-863b-719b8825fd72","block_type":"box","text":"26.2","page_number":129,"box":{"x":630,"y":222,"width":28,"height":8}},{"id":"202667a3-5939-46c6-ade6-664afac44900","block_type":"box","text":"19.4","page_number":129,"box":{"x":744,"y":222,"width":28,"height":8}},{"id":"983196c3-43c5-4990-8b88-73868f04d904","block_type":"box","text":"ACS (Fund of Fund)","page_number":129,"box":{"x":71,"y":265,"width":199,"height":10}},{"id":"06794c9c-4dce-4c0c-a79d-38507f64ccab","block_type":"box","text":"Accumulation Units Class 1","page_number":129,"box":{"x":71,"y":277,"width":197,"height":8}},{"id":"0ff333f3-335d-4436-aaa0-7378c2ab778e","block_type":"box","text":"(%)","page_number":129,"box":{"x":72,"y":289,"width":21,"height":10}},{"id":"33d0ccc4-9566-40ee-8ab5-4ee04d07afcb","block_type":"box","text":"ACS (Fund of Fund)","page_number":129,"box":{"x":71,"y":314,"width":199,"height":10}},{"id":"d51d7ea3-c52a-41f4-be4f-3f14e8adf207","block_type":"box","text":"Accumulation Units Class 2","page_number":129,"box":{"x":71,"y":326,"width":199,"height":8}},{"id":"63604678-8d3f-43ff-95b5-cf4bb597f8a1","block_type":"box","text":"(%)","page_number":129,"box":{"x":72,"y":338,"width":21,"height":10}},{"id":"a0259518-0271-4911-93ca-e72239783b20","block_type":"box","text":"UK Corporate Accumulation","page_number":129,"box":{"x":72,"y":363,"width":198,"height":10}},{"id":"ffb67510-30b6-4213-801c-10d6450fcbab","block_type":"box","text":"Units (%)","page_number":129,"box":{"x":72,"y":375,"width":60,"height":11}},{"id":"58d39661-853b-47c1-9988-1fcbba848f27","block_type":"box","text":"Insured Pension","page_number":129,"box":{"x":72,"y":400,"width":198,"height":8}},{"id":"b38420ff-ed98-4450-a36a-c28b30c93bc0","block_type":"box","text":"Accumulation Units (%)","page_number":129,"box":{"x":71,"y":413,"width":156,"height":10}},{"id":"391e8b71-c4cd-491e-af20-a7242da0b03b","block_type":"box","text":"UK Fund of Fund","page_number":129,"box":{"x":72,"y":437,"width":198,"height":8}},{"id":"00046e5b-99e2-4cee-8863-0aeda64eff18","block_type":"box","text":"Accumulation Units (%)","page_number":129,"box":{"x":71,"y":450,"width":156,"height":10}},{"id":"b0fd6e6a-db59-4c0d-9755-bbc86e098315","block_type":"box","text":"Index - MSCI® World NDR","page_number":129,"box":{"x":72,"y":477,"width":200,"height":8}},{"id":"924c0abc-7bbe-45fc-a68c-e357d2416d7a","block_type":"box","text":"Total Return GBP Index","page_number":129,"box":{"x":73,"y":490,"width":160,"height":8}},{"id":"ba9dda4e-b558-40ce-8895-24c37cf1300c","block_type":"box","text":"20.79","page_number":129,"box":{"x":289,"y":478,"width":39,"height":7}},{"id":"b7af8d55-ac82-4417-96e4-a160fc934b1a","block_type":"box","text":"16.81","page_number":129,"box":{"x":406,"y":478,"width":34,"height":7}},{"id":"fc3a2c1b-4ef7-4784-a663-add38df39f22","block_type":"box","text":"-7.83","page_number":129,"box":{"x":517,"y":478,"width":34,"height":7}},{"id":"8d3146e2-090d-423e-922f-e3868adbbe98","block_type":"box","text":"22.9","page_number":129,"box":{"x":630,"y":478,"width":30,"height":7}},{"id":"e4a4934f-b409-4c6e-a56a-c7e7da172001","block_type":"box","text":"12.3","page_number":129,"box":{"x":746,"y":478,"width":27,"height":7}},{"id":"08ad44ba-9441-47a2-a862-034ab250e018","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":130,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"ddd06d06-26b4-4d76-877f-5da63b5bd69c","block_type":"box","text":"130","page_number":130,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"d59922c9-0b84-4231-9ac7-1bd4bb1aa710","block_type":"box","text":"Aviva Investors: Confidential","page_number":130,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d2af1627-a218-4911-a406-c3f17ca7ba8f","block_type":"box","text":"AI Strategic Global Equity Fund","page_number":130,"box":{"x":62,"y":53,"width":250,"height":11}},{"id":"60c612f8-d5bc-4f36-abdc-acf61c602e8b","block_type":"box","text":"FCA product reference number: 658314","page_number":130,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"60a5576c-dd4d-4a7c-9a21-48fa6a9346b0","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":130,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"0993e5a3-ead3-4ac7-9ff6-91274484861d","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":130,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"c923279e-e411-42f0-aa28-25d73479caec","block_type":"box","text":"Investment Objective and Policy","page_number":130,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"7b816cfb-2135-47c8-9120-8dc851e4e958","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of global","page_number":130,"box":{"x":62,"y":184,"width":860,"height":11}},{"id":"5f9ff6cf-d53f-409c-a072-c30a8041ec62","block_type":"box","text":"companies, whilst maintaining a volatility lower than the MSCI® All Country World NDR Total Return Unhedged GBP","page_number":130,"box":{"x":62,"y":197,"width":861,"height":12}},{"id":"aa4b6fc9-0125-459e-aac0-f39607acf6db","block_type":"box","text":"Index (the “Index”)","page_number":130,"box":{"x":63,"y":211,"width":134,"height":11}},{"id":"3c578131-b8be-4147-9bde-6af28fcef300","block_type":"box","text":"□","page_number":130,"box":{"x":199,"y":213,"width":5,"height":3}},{"id":"fc5d84f3-c422-4948-832e-38b972b16d9c","block_type":"box","text":".","page_number":130,"box":{"x":207,"y":218,"width":2,"height":2}},{"id":"172a5eed-4cbd-4370-b4e6-1693b2c00156","block_type":"box","text":"Core investment:","page_number":130,"box":{"x":62,"y":231,"width":135,"height":9}},{"id":"4e2f668d-aec0-4e00-9257-f7cb404fdde8","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of global companies. “Global companies” means companies","page_number":130,"box":{"x":62,"y":250,"width":861,"height":11}},{"id":"2436388e-9e25-4de6-a26d-20e9414d4277","block_type":"box","text":"in any country across the globe, including in emerging markets.","page_number":130,"box":{"x":62,"y":264,"width":467,"height":11}},{"id":"a1da45f8-dd3b-45e2-b4e8-822e53a3cb96","block_type":"box","text":"Other investments:","page_number":130,"box":{"x":62,"y":284,"width":151,"height":8}},{"id":"6fc2390c-01b0-41f7-92a8-b7ff2c8c22ce","block_type":"box","text":"The Sub-Fund may also invest in other funds (including funds managed by the Investment Manager), derivatives,","page_number":130,"box":{"x":62,"y":303,"width":860,"height":11}},{"id":"00eba99a-caf1-4325-8a4e-973a6df0f12e","block_type":"box","text":"cash and deposits.","page_number":130,"box":{"x":62,"y":317,"width":138,"height":11}},{"id":"453cde84-0426-4b91-aa71-a40fdc646f32","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":130,"box":{"x":63,"y":336,"width":860,"height":12}},{"id":"cd964370-58b9-48d3-a3b4-e45a4e010a6c","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":130,"box":{"x":62,"y":350,"width":861,"height":11}},{"id":"7ca438e0-d8a9-4292-aca7-a4c58e230358","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":130,"box":{"x":62,"y":364,"width":545,"height":11}},{"id":"5ab46812-151e-4f3d-adaa-7085151fd57a","block_type":"box","text":"Strategy:","page_number":130,"box":{"x":62,"y":383,"width":70,"height":11}},{"id":"30584cdd-2ae4-4a4f-ac2d-98cdcbde2243","block_type":"box","text":"The Sub-Fund is actively managed, and aims to achieve capital growth from investing primarily in equities quoted on","page_number":130,"box":{"x":62,"y":403,"width":860,"height":11}},{"id":"d6f248db-d36b-4ff3-986f-343a283307ea","block_type":"box","text":"world stock markets using an investment strategy that focuses on, but is not limited to, five well-known investment","page_number":130,"box":{"x":62,"y":416,"width":861,"height":12}},{"id":"60b5cf71-148d-42d9-94c9-a250058564df","block_type":"box","text":"styles: low volatility, momentum, quality, small cap and value. The Sub-Fund has not been designed to have a bias","page_number":130,"box":{"x":62,"y":430,"width":861,"height":11}},{"id":"b2c62dd9-833d-4830-898b-4128f4141d44","block_type":"box","text":"to any particular sector, industry, jurisdiction or geographic region.","page_number":130,"box":{"x":62,"y":444,"width":488,"height":11}},{"id":"97ee47bd-e8bf-40ef-9f8a-328642c2a519","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":130,"box":{"x":62,"y":463,"width":527,"height":12}},{"id":"2916f428-9954-4c74-a8fe-946223abdce8","block_type":"box","text":"please see Appendix 2 for information on","page_number":130,"box":{"x":594,"y":464,"width":328,"height":11}},{"id":"dd75e69c-9db6-40cf-8af8-ca56713a0fb1","block_type":"box","text":"these limited investment restrictions.","page_number":130,"box":{"x":62,"y":477,"width":295,"height":9}},{"id":"de0c2876-ab2b-4ca1-a2d7-d9d54b41d43d","block_type":"box","text":"Performance & Risk Measurement:","page_number":130,"box":{"x":63,"y":497,"width":275,"height":9}},{"id":"221d4c3d-db7a-4141-8ac1-b7b541ba80a4","block_type":"box","text":"The Sub-Fund’s performance and volatility is measured against the Index.","page_number":130,"box":{"x":62,"y":516,"width":547,"height":12}},{"id":"233e25ec-f20c-4d57-b0f8-92f17395daeb","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":130,"box":{"x":62,"y":536,"width":860,"height":11}},{"id":"6882a4c7-7fe9-4479-9bd6-eba0d8f437bf","block_type":"box","text":"may also hold companies that do not form part of it. The Investment Manager may not invest more than 7% of the","page_number":130,"box":{"x":62,"y":550,"width":861,"height":11}},{"id":"1160c563-dd21-4bac-a385-d082d04915fd","block_type":"box","text":"Sub-Fund in a single stock, and specifically excludes investment in tobacco stocks. The Sub-Fund will not invest in","page_number":130,"box":{"x":62,"y":563,"width":860,"height":11}},{"id":"b999d276-120a-4a1a-acf4-513bfc21bc47","block_type":"box","text":"shares of companies within the Aviva Group.","page_number":130,"box":{"x":62,"y":577,"width":330,"height":11}},{"id":"e087a5fe-611c-4d4f-b8be-e493c72d3503","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund’s returns and the returns of","page_number":130,"box":{"x":62,"y":596,"width":861,"height":12}},{"id":"ac899793-734d-4298-a901-76770b7e4f27","block_type":"box","text":"the Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":130,"box":{"x":62,"y":610,"width":860,"height":11}},{"id":"6e4f72d8-fd5f-4454-a6df-20aec8dc79c8","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 0% and 6% compared","page_number":130,"box":{"x":62,"y":624,"width":860,"height":11}},{"id":"ca8c7dde-60fc-4db5-b894-53f8f5250260","block_type":"box","text":"to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":130,"box":{"x":62,"y":637,"width":571,"height":12}},{"id":"d30b5258-c393-4671-8853-8f6c8aee58bb","block_type":"box","text":"The Index comprises large and medium sized companies, as determined by their market capitalisation (total market","page_number":130,"box":{"x":62,"y":657,"width":861,"height":11}},{"id":"145af63a-6bcf-46ec-962c-d02df306b0f9","block_type":"box","text":"value of a company's outstanding shares), from both developed and emerging markets, and the Index is designed to","page_number":130,"box":{"x":62,"y":671,"width":861,"height":11}},{"id":"d4a71328-51bb-4781-baa9-2a1c6e3bf2be","block_type":"box","text":"provide a broad measure of global equity market performance.","page_number":130,"box":{"x":62,"y":684,"width":462,"height":12}},{"id":"4254dac1-b952-46a6-bbfb-4c53e594bcd1","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":130,"box":{"x":62,"y":704,"width":861,"height":11}},{"id":"1588982f-401d-4cfc-bae9-8f1af2863802","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate measure of the Sub","page_number":130,"box":{"x":62,"y":717,"width":861,"height":12}},{"id":"e7035b49-b533-4be4-b77e-6ac0baf0f9c4","block_type":"box","text":"Fund’s performance and volatility.","page_number":130,"box":{"x":63,"y":731,"width":248,"height":11}},{"id":"194523ef-ef76-4eab-8c77-5625cf1c655b","block_type":"box","text":"Additional Information","page_number":130,"box":{"x":62,"y":770,"width":177,"height":9}},{"id":"0553c5cc-1868-44e2-a74d-e4f4b9dbe2aa","block_type":"box","text":"Investment Manager","page_number":130,"box":{"x":118,"y":797,"width":151,"height":11}},{"id":"50961c78-078f-4ea1-91ff-307af053017a","block_type":"box","text":"Schroder Investment Management Limited","page_number":130,"box":{"x":353,"y":796,"width":315,"height":12}},{"id":"f75569ef-b7dc-403d-9502-ed2bbdc3fb19","block_type":"box","text":"Type of Units","page_number":130,"box":{"x":116,"y":823,"width":98,"height":11}},{"id":"f589ba2e-edde-4e04-bf5d-fa920a6d6d2b","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":130,"box":{"x":353,"y":823,"width":292,"height":11}},{"id":"ad4e1595-d06f-4b64-921b-9187ccc185ef","block_type":"box","text":"UK Corporate Accumulation Units","page_number":130,"box":{"x":353,"y":849,"width":250,"height":11}},{"id":"1b930d25-47c8-4744-9057-ab438a6da5be","block_type":"box","text":"UK Institutional Accumulation Units","page_number":130,"box":{"x":353,"y":875,"width":260,"height":9}},{"id":"761d7a12-ae25-4eb8-b679-c5bb3bc3895e","block_type":"box","text":"Dealing Day","page_number":130,"box":{"x":118,"y":901,"width":89,"height":11}},{"id":"e81027f3-8107-4ffc-93b0-be42f5e62620","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":130,"box":{"x":354,"y":901,"width":393,"height":11}},{"id":"fdb7ec10-af48-4bd0-85dd-8e382dc42fca","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":131,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"a429d77a-dca7-431e-94a1-03633d7cbc61","block_type":"box","text":"131","page_number":131,"box":{"x":781,"y":940,"width":16,"height":6}},{"id":"4dd664ce-e837-483d-a120-2b349a9e3308","block_type":"box","text":"Aviva Investors: Confidential","page_number":131,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"4bc5a7bb-419d-425b-afb0-f114f29cbf19","block_type":"box","text":"Deal Cut-Off Point","page_number":131,"box":{"x":118,"y":59,"width":134,"height":9}},{"id":"d5a8ad0e-c563-41d7-b658-dafb0cbdf4d8","block_type":"box","text":"2.00 p.m.","page_number":131,"box":{"x":353,"y":59,"width":67,"height":11}},{"id":"8f4de1e7-a6c5-42cd-923a-d8db1c0764bc","block_type":"box","text":"Valuation Point","page_number":131,"box":{"x":117,"y":85,"width":112,"height":9}},{"id":"00efd038-3471-4e29-8065-d938afc95a30","block_type":"box","text":"3.00 p.m.","page_number":131,"box":{"x":353,"y":86,"width":67,"height":10}},{"id":"b1ad7d34-54c5-484e-96e1-c81fc8f9d218","block_type":"box","text":"*Minimum Investment","page_number":131,"box":{"x":117,"y":111,"width":172,"height":9}},{"id":"3a2ded5b-6e84-4b9b-8452-63b77badbe6e","block_type":"box","text":"UK Corporate Income","page_number":131,"box":{"x":118,"y":137,"width":160,"height":11}},{"id":"98380a95-c2a2-4b77-8ba8-ebd25450934d","block_type":"box","text":"Distribution Units, UK","page_number":131,"box":{"x":118,"y":151,"width":158,"height":10}},{"id":"a6b7c7f2-c2bf-400b-8d87-e06ff3f83f43","block_type":"box","text":"Corporate Accumulation","page_number":131,"box":{"x":117,"y":165,"width":178,"height":11}},{"id":"5ee522eb-460c-4d17-a127-5549e2d9073d","block_type":"box","text":"Units, UK Institutional","page_number":131,"box":{"x":118,"y":179,"width":158,"height":10}},{"id":"5f60e946-c918-4a7a-8832-719818fce206","block_type":"box","text":"Accumulation Units","page_number":131,"box":{"x":116,"y":192,"width":143,"height":9}},{"id":"39702933-04ea-4f13-a2ea-6cf5cca136c7","block_type":"box","text":"No minimum","page_number":131,"box":{"x":353,"y":138,"width":92,"height":8}},{"id":"0e3900f9-79f3-40ca-a74d-ffe4884af223","block_type":"box","text":"Minimum withdrawal","page_number":131,"box":{"x":117,"y":218,"width":150,"height":9}},{"id":"64c3ece6-55ba-4a22-877f-6dc13680a42f","block_type":"box","text":"No minimum","page_number":131,"box":{"x":353,"y":218,"width":92,"height":9}},{"id":"22caf3be-fde9-40ca-aa16-ce3f260d4290","block_type":"box","text":"Tax Criteria for investment","page_number":131,"box":{"x":116,"y":244,"width":213,"height":9}},{"id":"0b34e01a-c5dd-420e-8f7e-3ba8566f956c","block_type":"box","text":"UK Corporate Income","page_number":131,"box":{"x":118,"y":270,"width":160,"height":11}},{"id":"ac0ead40-c80e-47f0-9a58-1212434363e5","block_type":"box","text":"Distribution Units, UK","page_number":131,"box":{"x":118,"y":284,"width":158,"height":10}},{"id":"fa2a400f-e656-4925-9a00-4aca5eb5863b","block_type":"box","text":"Corporate Accumulation","page_number":131,"box":{"x":117,"y":298,"width":178,"height":11}},{"id":"24816229-886c-4598-b83a-1a346cf4c831","block_type":"box","text":"Units","page_number":131,"box":{"x":118,"y":312,"width":36,"height":8}},{"id":"a180ebb1-4eca-47a5-96bb-7ee922525264","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":131,"box":{"x":352,"y":270,"width":404,"height":12}},{"id":"8e57bd16-2910-4f10-92cb-f1331d695979","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":131,"box":{"x":353,"y":284,"width":404,"height":11}},{"id":"8a01bbbd-0085-403c-9b6b-d87b4265da87","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":131,"box":{"x":352,"y":298,"width":405,"height":11}},{"id":"581b9630-320c-4092-a20c-6bf0546c7fd9","block_type":"box","text":"linked pension business contracts.","page_number":131,"box":{"x":353,"y":312,"width":253,"height":10}},{"id":"1aa2a7fe-a065-4dfd-8549-603bf4fe25f1","block_type":"box","text":"UK Institutional","page_number":131,"box":{"x":118,"y":338,"width":110,"height":8}},{"id":"bb02741f-89dc-4b69-81be-b255e0bab575","block_type":"box","text":"Accumulation Units","page_number":131,"box":{"x":116,"y":351,"width":143,"height":9}},{"id":"38666cf8-2444-4217-939f-4a3ac7a71e66","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":131,"box":{"x":352,"y":338,"width":404,"height":11}},{"id":"516cc6e9-cae2-477d-bb08-db49128696ec","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":131,"box":{"x":353,"y":351,"width":403,"height":11}},{"id":"558039c9-794b-40ce-8f53-4e3fd49f5751","block_type":"box","text":"tax treaties.","page_number":131,"box":{"x":352,"y":365,"width":85,"height":9}},{"id":"9c3daac1-0c24-4d37-b19d-c134d8914dfb","block_type":"box","text":"**Current Charges:","page_number":131,"box":{"x":117,"y":397,"width":149,"height":11}},{"id":"9c67172f-e694-484a-b984-0c8439eb425d","block_type":"box","text":"UK Corporate Income","page_number":131,"box":{"x":118,"y":423,"width":160,"height":11}},{"id":"60aa2b18-ca67-461a-88e9-f1bf2c45c3a8","block_type":"box","text":"Distribution Units, UK","page_number":131,"box":{"x":118,"y":437,"width":158,"height":10}},{"id":"5f9add94-b5a4-4eee-962c-765b30d9d6d9","block_type":"box","text":"Corporate Accumulation","page_number":131,"box":{"x":117,"y":450,"width":178,"height":11}},{"id":"d6f1909c-0f9f-407b-bccd-aa21b69c7e46","block_type":"box","text":"Units, UK Institutional","page_number":131,"box":{"x":118,"y":464,"width":158,"height":10}},{"id":"edb71ac0-790c-42ee-852a-b3bf96cca4a9","block_type":"box","text":"Accumulation Units","page_number":131,"box":{"x":116,"y":478,"width":143,"height":9}},{"id":"3794127d-dbc4-47d0-adbe-c2421aa98602","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":131,"box":{"x":352,"y":423,"width":404,"height":11}},{"id":"e130ea7a-0c96-4bbc-a7f2-367df6851ce2","block_type":"box","text":"Unitholder***","page_number":131,"box":{"x":353,"y":437,"width":94,"height":9}},{"id":"099d866d-79ea-42e6-b8ea-d0499863eba6","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":131,"box":{"x":352,"y":456,"width":404,"height":12}},{"id":"1430e271-6bc9-4aea-b6c9-2ca564425a6b","block_type":"box","text":"property","page_number":131,"box":{"x":353,"y":471,"width":60,"height":10}},{"id":"c5f628f0-5867-4796-8a7c-543a63c886c1","block_type":"box","text":"Accounting Dates","page_number":131,"box":{"x":117,"y":516,"width":141,"height":11}},{"id":"0590098d-7db0-47d7-b806-899478dce2ae","block_type":"box","text":"Annual Accounting Date","page_number":131,"box":{"x":116,"y":542,"width":180,"height":11}},{"id":"a681b8bf-c8ee-4896-a126-5c233cc2fe1a","block_type":"box","text":"31 December","page_number":131,"box":{"x":353,"y":542,"width":100,"height":9}},{"id":"153d84d9-55ed-4a67-b3e9-f41731ca039b","block_type":"box","text":"First Accounting Date","page_number":131,"box":{"x":118,"y":568,"width":158,"height":11}},{"id":"9c0b3f84-93f2-4533-af12-372a2b5e2eb3","block_type":"box","text":"31 December 2015","page_number":131,"box":{"x":353,"y":568,"width":141,"height":9}},{"id":"e7a5de46-7d0f-4d2f-85a7-5e5a50f0cf1b","block_type":"box","text":"Annual Income Allocation","page_number":131,"box":{"x":116,"y":594,"width":188,"height":9}},{"id":"b2a490c9-4e24-4b95-85b4-19e104c1f8e1","block_type":"box","text":"Date","page_number":131,"box":{"x":118,"y":608,"width":33,"height":8}},{"id":"995e3479-eb9d-48cc-bd9d-e9df10f2efa9","block_type":"box","text":"On or before 28 /29 February","page_number":131,"box":{"x":353,"y":594,"width":217,"height":11}},{"id":"c8864e30-b11b-41d6-b7d3-c4c855b57ee1","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":131,"box":{"x":118,"y":634,"width":293,"height":11}},{"id":"59fcc2ba-510e-43f6-98c0-1c9ffa88c7f2","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":131,"box":{"x":62,"y":660,"width":861,"height":11}},{"id":"e893e699-eb92-40c3-b626-be04fcc7af4d","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":131,"box":{"x":62,"y":674,"width":408,"height":11}},{"id":"3a2fbf09-6264-4bb0-b75d-8e14ff129100","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":131,"box":{"x":62,"y":693,"width":642,"height":11}},{"id":"50c8526f-4387-4083-8acc-5bcdf0d2c242","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":131,"box":{"x":62,"y":713,"width":860,"height":11}},{"id":"63fb87f7-0771-4aee-ae9d-550103cfeccd","block_type":"box","text":"this Prospectus.","page_number":131,"box":{"x":62,"y":727,"width":117,"height":10}},{"id":"06a23586-185f-4e9c-a714-25653b1303a9","block_type":"box","text":"*** In certain circumstances where one Sub-Fund of the Scheme invests in Units of another, the ACS Management","page_number":131,"box":{"x":62,"y":746,"width":861,"height":11}},{"id":"09a7c857-2e2e-4645-9e57-1d24ce79773e","block_type":"box","text":"charge will not be charged to the investing Sub-Fund. Further information is provided at paragraph 5.8 of Appendix 6","page_number":131,"box":{"x":62,"y":760,"width":861,"height":11}},{"id":"d679b402-b24b-4fc5-84f9-fc669f6dcb83","block_type":"box","text":"below.","page_number":131,"box":{"x":62,"y":774,"width":46,"height":8}},{"id":"338551b5-b86b-490c-bc1f-af4bb5ae534f","block_type":"box","text":"□","page_number":131,"box":{"x":62,"y":794,"width":5,"height":4}},{"id":"9a30227d-5f87-4f7e-9ee2-88a93c682ece","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":131,"box":{"x":74,"y":793,"width":342,"height":9}},{"id":"2f26107b-7d9e-4d31-965d-e1392ab6ef2d","block_type":"box","text":"Securities Financing and other Transactions:","page_number":131,"box":{"x":62,"y":827,"width":358,"height":11}},{"id":"f17a8c6e-90c2-47b4-b3cf-afc8c37a77d8","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":131,"box":{"x":62,"y":847,"width":860,"height":11}},{"id":"59867b40-3fed-46d4-8179-ec9811e16319","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":131,"box":{"x":62,"y":860,"width":438,"height":11}},{"id":"7eba16a5-11ca-4481-8b2c-ced082499969","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":131,"box":{"x":62,"y":899,"width":861,"height":12}},{"id":"d9f0988e-0ee8-4e1a-8a88-56c6a4f83c9d","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":131,"box":{"x":62,"y":913,"width":860,"height":11}},{"id":"50e1e306-f0dc-43f9-8e26-7e467df0ab77","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":132,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"a9506f7c-055b-4a8e-8138-7517abbe3ac4","block_type":"box","text":"132","page_number":132,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"ccd8860b-dc30-4bb1-a8ae-d6f5130a78df","block_type":"box","text":"Aviva Investors: Confidential","page_number":132,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"70cd11a3-c7c0-40ea-8d18-73c7615ee3b3","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":132,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"8c8e4c7e-afd9-407a-b567-d425ac77ee92","block_type":"box","text":"15%.","page_number":132,"box":{"x":63,"y":66,"width":35,"height":9}},{"id":"74c62039-bfc2-4f1a-af48-b2f217fb6e08","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":132,"box":{"x":62,"y":105,"width":860,"height":12}},{"id":"53db587c-aa5f-4982-bbd8-0803f411fe12","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":132,"box":{"x":62,"y":119,"width":860,"height":11}},{"id":"d5a8cfa9-aae1-4b2e-b391-e8f3105241fd","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":132,"box":{"x":62,"y":133,"width":861,"height":11}},{"id":"879c0205-f1a1-4b4f-aa60-796218a06a7b","block_type":"box","text":"is zero.","page_number":132,"box":{"x":62,"y":147,"width":52,"height":8}},{"id":"a78c53a3-8a3b-4423-9df7-02978b9129b0","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":132,"box":{"x":62,"y":205,"width":249,"height":9}},{"id":"267b52aa-69e1-49ce-a330-ba16b3f62b12","block_type":"box","text":"Leverage","page_number":132,"box":{"x":63,"y":244,"width":72,"height":11}},{"id":"2bde0501-c999-4f1d-91dc-23a77a6d32e1","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of achieving the investment objective,","page_number":132,"box":{"x":63,"y":264,"width":859,"height":11}},{"id":"d7b279bf-01ff-406b-8657-4661beadee42","block_type":"box","text":"risk reduction or efficient portfolio management.","page_number":132,"box":{"x":63,"y":278,"width":351,"height":11}},{"id":"4b747c19-5700-4dde-acb2-dfff305324cb","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":132,"box":{"x":62,"y":311,"width":860,"height":11}},{"id":"aa69a664-c128-47c6-a8e0-cd3371e3ccda","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":132,"box":{"x":62,"y":325,"width":649,"height":11}},{"id":"9524e5d1-e636-4756-90aa-41c87d9e0767","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":132,"box":{"x":62,"y":352,"width":755,"height":11}},{"id":"726b29f4-84f9-49a1-8da0-bafcd094b086","block_type":"box","text":"Permitted derivatives","page_number":132,"box":{"x":72,"y":382,"width":168,"height":9}},{"id":"975f0d79-f88d-4b17-a367-abea067be43c","block_type":"box","text":"Permitted?","page_number":132,"box":{"x":383,"y":382,"width":85,"height":9}},{"id":"84fdfeb4-1726-4cb2-a92a-32e9ac07a5af","block_type":"box","text":"Prohibited?","page_number":132,"box":{"x":489,"y":382,"width":91,"height":9}},{"id":"613f8775-672b-44ac-84ab-de9f35a310e2","block_type":"box","text":"Equity index futures","page_number":132,"box":{"x":72,"y":402,"width":146,"height":11}},{"id":"43871a4a-af9a-41a9-bd29-7e651a8d63fc","block_type":"box","text":"√","page_number":132,"box":{"x":421,"y":403,"width":8,"height":7}},{"id":"3a0073aa-f773-44b7-b374-2877582e7d77","block_type":"box","text":"Government bond futures","page_number":132,"box":{"x":72,"y":421,"width":188,"height":9}},{"id":"0201bef4-9974-4aa4-b1f9-230edb883a01","block_type":"box","text":"√","page_number":132,"box":{"x":530,"y":421,"width":8,"height":8}},{"id":"d7ac4887-4c97-4752-b112-4342b3e8a99b","block_type":"box","text":"Equity index options","page_number":132,"box":{"x":72,"y":439,"width":148,"height":11}},{"id":"124ce5c9-377f-4415-ae3c-2262abe00acd","block_type":"box","text":"√","page_number":132,"box":{"x":421,"y":440,"width":8,"height":7}},{"id":"8db13a44-1689-4058-afbb-8a3623721458","block_type":"box","text":"Forward foreign exchange","page_number":132,"box":{"x":72,"y":457,"width":193,"height":12}},{"id":"58ac39ab-411c-4fd6-8dc2-7d04b2a5d341","block_type":"box","text":"√","page_number":132,"box":{"x":421,"y":458,"width":8,"height":8}},{"id":"f17dad6f-84fa-4379-b9ee-d2367c78e9f7","block_type":"box","text":"Index credit default swaps","page_number":132,"box":{"x":72,"y":476,"width":192,"height":11}},{"id":"e829c785-f570-475e-adf8-5d0bd6d12d1c","block_type":"box","text":"√","page_number":132,"box":{"x":530,"y":476,"width":8,"height":8}},{"id":"5ec51830-5e8b-4a25-be5b-a1d5adc0a696","block_type":"box","text":"Interest rate swaps","page_number":132,"box":{"x":72,"y":494,"width":140,"height":11}},{"id":"85b7ef9e-8675-472c-8084-a273a2dbb8d0","block_type":"box","text":"√","page_number":132,"box":{"x":530,"y":495,"width":8,"height":7}},{"id":"b0075979-c5b9-462a-8543-b4e5e29cbc24","block_type":"box","text":"OTC equity options","page_number":132,"box":{"x":72,"y":513,"width":142,"height":11}},{"id":"14bc0b6b-bbfa-4992-921a-7d56f79440c2","block_type":"box","text":"√","page_number":132,"box":{"x":421,"y":513,"width":8,"height":8}},{"id":"1f99dd3b-8c3d-4355-8f97-683ea1572ff5","block_type":"box","text":"Inflation swaps","page_number":132,"box":{"x":72,"y":531,"width":109,"height":11}},{"id":"adf1185f-be18-4f51-bd90-1157ae63ad9e","block_type":"box","text":"√","page_number":132,"box":{"x":530,"y":532,"width":8,"height":7}},{"id":"cb77f799-f810-4f44-93f2-ef186afd3731","block_type":"box","text":"Cross currency swaps","page_number":132,"box":{"x":72,"y":549,"width":163,"height":12}},{"id":"b167034d-d476-4fc3-97b3-d6ad496d7f5b","block_type":"box","text":"√","page_number":132,"box":{"x":530,"y":550,"width":8,"height":8}},{"id":"90b9faee-683f-4203-a609-e8456348a025","block_type":"box","text":"TRS","page_number":132,"box":{"x":71,"y":568,"width":33,"height":9}},{"id":"7c6ead13-4edb-43ab-bba2-767a79ae613c","block_type":"box","text":"√","page_number":132,"box":{"x":530,"y":568,"width":8,"height":8}},{"id":"a30d2afc-8677-4745-8864-b2f9a7ef78eb","block_type":"box","text":"Other","page_number":132,"box":{"x":72,"y":586,"width":41,"height":9}},{"id":"9c5de4d6-6a00-41a5-a940-e2f2a54e745e","block_type":"box","text":"√","page_number":132,"box":{"x":530,"y":587,"width":8,"height":7}},{"id":"35f684fb-3624-4ac0-bc0a-ae52f1272dd3","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":132,"box":{"x":63,"y":614,"width":860,"height":11}},{"id":"847aaa72-0ee7-468d-ba6f-9cbeee17525a","block_type":"box","text":"2)","page_number":132,"box":{"x":62,"y":628,"width":13,"height":11}},{"id":"b47dc411-ba8c-4da3-b60e-cacc4ec2f353","block_type":"box","text":"Leverage Limits","page_number":132,"box":{"x":63,"y":655,"width":128,"height":11}},{"id":"fac396bd-fb1e-4a46-b5b4-e1922ab90e8c","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":132,"box":{"x":200,"y":655,"width":722,"height":11}},{"id":"8bdfa5b2-dc65-4835-85cd-fac41b7926e3","block_type":"box","text":"Regime):","page_number":132,"box":{"x":63,"y":669,"width":65,"height":11}},{"id":"bacd2e0a-ef02-44a4-a7de-29c7612d2e29","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":132,"box":{"x":62,"y":723,"width":471,"height":12}},{"id":"c3ea9b39-081b-4ac0-890b-4583f97b575b","block_type":"box","text":"","page_number":132,"box":{"x":62,"y":755,"width":6,"height":4}},{"id":"632b2591-078d-44a9-b55b-68870c0aa15e","block_type":"box","text":"Gross Method: Up to 1.2:1","page_number":132,"box":{"x":92,"y":752,"width":193,"height":11}},{"id":"391bb7dc-c937-4bbe-b811-3d52dd3b43cd","block_type":"box","text":"","page_number":132,"box":{"x":62,"y":771,"width":6,"height":5}},{"id":"89351ff5-7ea2-40e3-a268-372fcd376ada","block_type":"box","text":"Commitment: Up to 1.1:1","page_number":132,"box":{"x":92,"y":768,"width":183,"height":11}},{"id":"477753fb-16f0-42b1-bad3-1e6d2dbf10b4","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":132,"box":{"x":62,"y":796,"width":860,"height":11}},{"id":"2fc07435-f004-44c5-89d9-19ae484d1020","block_type":"box","text":"which case leverage will not exceed the following:","page_number":132,"box":{"x":62,"y":809,"width":368,"height":12}},{"id":"ee7db4b2-29d5-4c24-93d2-50e52e647d12","block_type":"box","text":"","page_number":132,"box":{"x":62,"y":841,"width":6,"height":4}},{"id":"a5101fca-80ae-4c6a-8d4b-831bf481a9b6","block_type":"box","text":"Gross Method: Up to 1.6:1","page_number":132,"box":{"x":92,"y":837,"width":193,"height":12}},{"id":"23037b78-8d2d-4d71-ba63-efe9842b0b44","block_type":"box","text":"","page_number":132,"box":{"x":62,"y":857,"width":6,"height":5}},{"id":"7dd855f5-d696-45d6-89c6-81de90f27a52","block_type":"box","text":"Commitment: Up to 1.6:1","page_number":132,"box":{"x":92,"y":854,"width":183,"height":11}},{"id":"083b3549-f238-4c5b-b33a-eba6e8122f18","block_type":"box","text":"Specific Risks","page_number":132,"box":{"x":62,"y":882,"width":113,"height":11}},{"id":"c1f2f244-1e67-4c8a-b7d1-3deb69e26d41","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":132,"box":{"x":181,"y":882,"width":462,"height":11}},{"id":"c57c3746-c3a7-44d0-84d1-4c672b734e25","block_type":"box","text":"","page_number":132,"box":{"x":62,"y":905,"width":6,"height":4}},{"id":"9f5d7c63-03dd-4b80-8309-0736858599d4","block_type":"box","text":"Emerging Markets","page_number":132,"box":{"x":93,"y":902,"width":134,"height":11}},{"id":"7c7528d0-453f-4311-8ed2-bddddf262277","block_type":"box","text":"","page_number":132,"box":{"x":62,"y":920,"width":6,"height":4}},{"id":"256e2042-2fbe-4518-9c3b-7323811318d2","block_type":"box","text":"Smaller Companies","page_number":132,"box":{"x":92,"y":916,"width":145,"height":12}},{"id":"ff8ade18-bdf2-425e-a637-1126f40636a0","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":133,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"e8020ed1-3f01-4a60-ab7c-f6760f3cdf61","block_type":"box","text":"133","page_number":133,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"7bd22e26-33c2-45ba-9b42-bc89e7ac6219","block_type":"box","text":"Aviva Investors: Confidential","page_number":133,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"1d970358-fc0e-4c1f-b603-d3848cb33c0d","block_type":"box","text":"","page_number":133,"box":{"x":62,"y":57,"width":6,"height":4}},{"id":"1d0fb809-a9a5-4eb7-b911-c728010f25de","block_type":"box","text":"Active Management","page_number":133,"box":{"x":92,"y":54,"width":147,"height":11}},{"id":"2e5cf0e8-4e62-40e8-9c67-c2e53e9336b3","block_type":"box","text":"","page_number":133,"box":{"x":62,"y":71,"width":6,"height":4}},{"id":"bb821e97-d8e1-4bc1-85f5-d8de8fd451bd","block_type":"box","text":"Equity Securities","page_number":133,"box":{"x":93,"y":68,"width":123,"height":11}},{"id":"d8843c8d-cd27-4f19-8146-fbd21646f6e4","block_type":"box","text":"Past Performance – AI Strategic Global Equity Fund","page_number":133,"box":{"x":72,"y":114,"width":411,"height":11}},{"id":"7fd3fd36-6d91-4838-a8ca-7566d9356de8","block_type":"box","text":"% Growth","page_number":133,"box":{"x":71,"y":133,"width":77,"height":9}},{"id":"cbe706e9-4e1e-472c-97aa-c3c0f646ffd7","block_type":"box","text":"1/1/2024 to","page_number":133,"box":{"x":290,"y":159,"width":94,"height":8}},{"id":"4d6831d2-577c-4320-b557-c4de5a5f15c6","block_type":"box","text":"31/12/2024","page_number":133,"box":{"x":289,"y":171,"width":75,"height":8}},{"id":"572f4a5f-83e0-4931-90b4-569efdc6193f","block_type":"box","text":"1/1/2023 to","page_number":133,"box":{"x":404,"y":159,"width":94,"height":8}},{"id":"43979a7d-7802-438b-8897-df2d2c3fa199","block_type":"box","text":"31/12/2023","page_number":133,"box":{"x":403,"y":171,"width":75,"height":8}},{"id":"926575bf-9435-4fa3-a45e-a316cd00b662","block_type":"box","text":"1/1/2022 to","page_number":133,"box":{"x":517,"y":159,"width":94,"height":8}},{"id":"bfdb45fa-00e2-4b4a-a3ff-ba0c274776c3","block_type":"box","text":"31/12/2022","page_number":133,"box":{"x":516,"y":171,"width":75,"height":8}},{"id":"ff623005-6c0c-4822-94c2-d16c6ced60cd","block_type":"box","text":"1/1/2021 to","page_number":133,"box":{"x":631,"y":159,"width":94,"height":8}},{"id":"1f1d861d-36d8-4c07-9e8d-8afed98e3427","block_type":"box","text":"31/12/2021","page_number":133,"box":{"x":630,"y":171,"width":73,"height":8}},{"id":"8a8454e7-a79b-4495-b1a3-b6650b0305f5","block_type":"box","text":"1/1/2020 to","page_number":133,"box":{"x":744,"y":159,"width":94,"height":8}},{"id":"aa41bd92-6b78-4866-870f-1f2569a6ad0d","block_type":"box","text":"31/12/2020","page_number":133,"box":{"x":743,"y":171,"width":75,"height":8}},{"id":"45f08cda-dc86-4b49-a18d-306f0ebea11f","block_type":"box","text":"UK Corporate Income","page_number":133,"box":{"x":72,"y":196,"width":198,"height":10}},{"id":"9f2553b6-84dc-4ed1-bbbb-830efdf44bbb","block_type":"box","text":"Distribution Units (%)","page_number":133,"box":{"x":72,"y":208,"width":140,"height":10}},{"id":"32503e24-ebc2-4b85-9efb-028ba0668704","block_type":"box","text":"19.02","page_number":133,"box":{"x":291,"y":196,"width":35,"height":8}},{"id":"a3ccef34-1af9-4f57-849f-7fbae73e3653","block_type":"box","text":"15.34","page_number":133,"box":{"x":404,"y":196,"width":36,"height":8}},{"id":"97a680a1-e5f7-47ca-9711-f1b6668c21e5","block_type":"box","text":"-9.30","page_number":133,"box":{"x":517,"y":196,"width":33,"height":8}},{"id":"daa1ba87-1928-4fcd-aa61-c2574b0e2238","block_type":"box","text":"25.4","page_number":133,"box":{"x":630,"y":196,"width":29,"height":8}},{"id":"c4443d9b-cbb1-472f-a465-4c5cffd35b53","block_type":"box","text":"5.6","page_number":133,"box":{"x":743,"y":196,"width":20,"height":8}},{"id":"f340c3a1-ce65-4ba2-8a27-420a1ec9f38f","block_type":"box","text":"Insured Pension Income","page_number":133,"box":{"x":72,"y":239,"width":198,"height":8}},{"id":"9a7bf754-3d3f-4a72-b0df-880a077159a9","block_type":"box","text":"Distribution Units (%)","page_number":133,"box":{"x":72,"y":251,"width":140,"height":10}},{"id":"10c3084d-dd32-431d-b722-de5855661a23","block_type":"box","text":"UK Institutional Accumulation","page_number":133,"box":{"x":72,"y":276,"width":198,"height":8}},{"id":"50005191-61e9-4f71-8421-3f45bcbbb5d6","block_type":"box","text":"Units (%)","page_number":133,"box":{"x":72,"y":288,"width":60,"height":10}},{"id":"9455ea19-2bc0-443b-a256-1cc3c51118ae","block_type":"box","text":"18.82","page_number":133,"box":{"x":291,"y":276,"width":35,"height":8}},{"id":"235fbb70-37a5-44f0-a11b-7779dc51b7a5","block_type":"box","text":"15.23","page_number":133,"box":{"x":404,"y":276,"width":36,"height":8}},{"id":"2946e3dd-ae03-4078-ba7b-b32c8fd43828","block_type":"box","text":"-9.40","page_number":133,"box":{"x":517,"y":276,"width":33,"height":8}},{"id":"162867b2-72d5-494b-8e81-d77eaa2de577","block_type":"box","text":"25.4","page_number":133,"box":{"x":630,"y":276,"width":29,"height":8}},{"id":"92977ac4-c382-491e-9dd7-f0666ffd1b7c","block_type":"box","text":"5.6","page_number":133,"box":{"x":743,"y":276,"width":20,"height":8}},{"id":"347f5ee2-9e2b-41ca-8429-32145b053762","block_type":"box","text":"ACS (Fund of Fund)","page_number":133,"box":{"x":71,"y":319,"width":199,"height":10}},{"id":"e4fda8a1-3134-4a2e-a5ad-8c3ef2d695c5","block_type":"box","text":"Accumulation Units Class 1","page_number":133,"box":{"x":71,"y":331,"width":197,"height":8}},{"id":"cb85ec2b-2595-4cb5-a09f-817f93d3702b","block_type":"box","text":"(%)","page_number":133,"box":{"x":72,"y":344,"width":21,"height":10}},{"id":"5c7125f3-3a2d-406f-ad3f-da72c64579a2","block_type":"box","text":"ACS (Fund of Fund)","page_number":133,"box":{"x":71,"y":368,"width":199,"height":10}},{"id":"386371ad-f7a4-437d-9e57-2d1cf7ecdbc2","block_type":"box","text":"Accumulation Units Class 2","page_number":133,"box":{"x":71,"y":381,"width":199,"height":8}},{"id":"0db1861a-0d86-4116-b9db-e02beb38f6eb","block_type":"box","text":"(%)","page_number":133,"box":{"x":72,"y":393,"width":21,"height":10}},{"id":"2e83c46a-6b53-4d05-befc-d188451c6757","block_type":"box","text":"UK Corporate Accumulation","page_number":133,"box":{"x":72,"y":418,"width":198,"height":10}},{"id":"57fa1bfb-8968-4016-875b-649775e7d30d","block_type":"box","text":"Units (%)","page_number":133,"box":{"x":72,"y":430,"width":60,"height":10}},{"id":"cc4c4ca1-50cd-4ce1-8f2d-a781c589e288","block_type":"box","text":"19.03","page_number":133,"box":{"x":291,"y":418,"width":36,"height":8}},{"id":"9fb99746-73a6-49b7-97ef-bfb9edd47968","block_type":"box","text":"15.42","page_number":133,"box":{"x":404,"y":418,"width":36,"height":8}},{"id":"c282d74d-4563-4ed7-8b03-91c2590edcf7","block_type":"box","text":"-9.35","page_number":133,"box":{"x":517,"y":418,"width":33,"height":8}},{"id":"a67f892c-a3ee-46a9-8d65-90482895d6f2","block_type":"box","text":"25.3","page_number":133,"box":{"x":630,"y":418,"width":29,"height":8}},{"id":"119aac64-5579-4e5f-9c85-8302d9d34335","block_type":"box","text":"N/A","page_number":133,"box":{"x":744,"y":418,"width":24,"height":8}},{"id":"16a18118-7b39-42d1-9422-fedcd0fbbdf4","block_type":"box","text":"Insured Pension","page_number":133,"box":{"x":72,"y":461,"width":198,"height":8}},{"id":"b86b3074-687a-4ad5-8bfb-f0ea21d24a5f","block_type":"box","text":"Accumulation Units (%)","page_number":133,"box":{"x":71,"y":473,"width":156,"height":10}},{"id":"9b2a9abc-ec85-4155-9c90-ebcae86ed8e2","block_type":"box","text":"UK Fund of Fund","page_number":133,"box":{"x":72,"y":498,"width":198,"height":8}},{"id":"00c369b3-fcfd-4119-be4b-8abf8f5a391a","block_type":"box","text":"Accumulation Units (%)","page_number":133,"box":{"x":71,"y":510,"width":156,"height":10}},{"id":"b7722760-f5c5-4501-b3de-8d03d73d1b71","block_type":"box","text":"Index – MSCI® All Country","page_number":133,"box":{"x":72,"y":538,"width":200,"height":10}},{"id":"1d896ff3-7ecd-4b8f-9f7f-16fe51ef2b2b","block_type":"box","text":"World NDR Total Return","page_number":133,"box":{"x":73,"y":550,"width":198,"height":8}},{"id":"3641eb39-99a5-467d-8038-16a50b7792da","block_type":"box","text":"Unhedged GBP Index","page_number":133,"box":{"x":73,"y":562,"width":147,"height":10}},{"id":"4fc325a4-61eb-44e5-a28a-7c511549eedc","block_type":"box","text":"19.59","page_number":133,"box":{"x":292,"y":538,"width":36,"height":8}},{"id":"f196c083-6a53-419f-a1e8-4cde0c0a1216","block_type":"box","text":"15.31","page_number":133,"box":{"x":406,"y":538,"width":34,"height":8}},{"id":"2985206c-8133-4648-9df3-078f3ad19e7c","block_type":"box","text":"-8.08","page_number":133,"box":{"x":517,"y":538,"width":34,"height":8}},{"id":"4ca9b928-119f-4ff9-9fe6-15d0eb311474","block_type":"box","text":"19.6","page_number":133,"box":{"x":633,"y":538,"width":27,"height":8}},{"id":"08d99b68-f262-4ba9-8c7f-abc439651199","block_type":"box","text":"12.7","page_number":133,"box":{"x":746,"y":538,"width":28,"height":8}},{"id":"49e7abfb-1d3f-4e70-855d-13254f6ff8ab","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":134,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"be4b9923-e4d8-4297-8e24-9503f03d9181","block_type":"box","text":"134","page_number":134,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"f0ff3b66-10c6-4381-b1ba-2d01fcdb04bc","block_type":"box","text":"Aviva Investors: Confidential","page_number":134,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"6026d0b3-de88-47a1-9623-62851ceb9a23","block_type":"box","text":"AI Sterling Corporate Bond Fund","page_number":134,"box":{"x":62,"y":53,"width":261,"height":11}},{"id":"c0baeb97-617f-488d-8060-355ee6a3f7aa","block_type":"box","text":"FCA product reference number: 658316","page_number":134,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"67a855ba-c1d6-4886-813f-38fd2eef1ff2","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":134,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"b118b036-7345-4c37-bf80-f171292b251d","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":134,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"87d0a290-469d-4442-9f65-d626519ba65a","block_type":"box","text":"Investment Objective and Policy","page_number":134,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"de5a8117-f05d-481f-98fe-69497fb3fcdb","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) through a combination of income","page_number":134,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"b40dad56-8650-40a0-946c-862fe1fef478","block_type":"box","text":"and capital returns, by investing in bonds issued by companies.","page_number":134,"box":{"x":62,"y":198,"width":468,"height":11}},{"id":"54def0af-f368-4a08-885b-1c77a15f9a2c","block_type":"box","text":"Core investment:","page_number":134,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"9641c7b0-b078-451c-a8fc-6d48b4681b61","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in investment grade bonds issued by companies or supranational","page_number":134,"box":{"x":62,"y":236,"width":861,"height":12}},{"id":"251bcf52-9876-4d35-a4dd-50639aaf0b39","block_type":"box","text":"organisations denominated in or hedged to Sterling.","page_number":134,"box":{"x":62,"y":250,"width":383,"height":11}},{"id":"16bc1f65-254e-472f-9658-9e2e946519e0","block_type":"box","text":"Other investments:","page_number":134,"box":{"x":62,"y":270,"width":151,"height":9}},{"id":"3b00e0c9-4caa-4626-b320-b5618a1394a4","block_type":"box","text":"The Sub-Fund may also invest in bonds issued by governments, other funds (including funds managed by Aviva","page_number":134,"box":{"x":62,"y":289,"width":861,"height":12}},{"id":"860713b5-b6ec-4d1b-a60d-c9f63b12ecb5","block_type":"box","text":"Investors companies), shares of companies, derivatives, cash and deposits.","page_number":134,"box":{"x":63,"y":303,"width":560,"height":11}},{"id":"3301dfa1-088a-42af-95c1-eceae20f4d8e","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":134,"box":{"x":63,"y":323,"width":860,"height":11}},{"id":"7e5bed74-3c21-47a3-99af-5995231c93c5","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":134,"box":{"x":62,"y":336,"width":861,"height":12}},{"id":"af8db6b2-2e13-4680-9bec-9431049c2a3f","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":134,"box":{"x":62,"y":350,"width":545,"height":11}},{"id":"0dc466ff-4bd9-460d-b984-60a672bb1d72","block_type":"box","text":"Strategy:","page_number":134,"box":{"x":62,"y":369,"width":70,"height":12}},{"id":"8eb47bee-08ab-4c29-81ed-77bf77fdcdac","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager will make high conviction (strong belief) investments","page_number":134,"box":{"x":62,"y":389,"width":860,"height":11}},{"id":"f79925a1-98ca-471d-9c36-41eb640f6dbd","block_type":"box","text":"at both a company and sector level, basing their investment selection process on a long-term outlook, whilst looking","page_number":134,"box":{"x":62,"y":403,"width":860,"height":11}},{"id":"0a732014-a57c-4138-8205-97c86b622efd","block_type":"box","text":"to deliver optimum risk-adjusted returns. The Investment Manager will focus on identifying what they judge to be","page_number":134,"box":{"x":62,"y":416,"width":861,"height":12}},{"id":"784b62ad-67e4-4601-9b6e-f9eb30b775f5","block_type":"box","text":"higher quality corporate bonds through assessment of the business strengths and risks associated with the underlying","page_number":134,"box":{"x":62,"y":430,"width":860,"height":11}},{"id":"92696fdb-c8e7-4594-a36e-0be9ef4375cc","block_type":"box","text":"companies, the valuation of the bonds relative to the market, the views of independent risk rating agencies, and any","page_number":134,"box":{"x":62,"y":444,"width":861,"height":11}},{"id":"d2c55afc-c20a-49fe-83f2-20a3607caa15","block_type":"box","text":"other relevant factors, whilst also taking advantage of short-term opportunities when they arise.","page_number":134,"box":{"x":62,"y":457,"width":703,"height":12}},{"id":"97dfe102-47e0-409c-9bc2-d4adcdcba318","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":134,"box":{"x":62,"y":477,"width":527,"height":11}},{"id":"0884908e-a85e-4963-9454-23f75df44001","block_type":"box","text":"please see Appendix 2 for information on","page_number":134,"box":{"x":594,"y":477,"width":328,"height":11}},{"id":"190665da-097e-40a8-b9f2-112eeedb2611","block_type":"box","text":"these limited investment restrictions.","page_number":134,"box":{"x":62,"y":491,"width":295,"height":8}},{"id":"6de4d479-dddd-41a5-9801-7af696802be9","block_type":"box","text":"Performance & Risk Measurement:","page_number":134,"box":{"x":63,"y":510,"width":275,"height":9}},{"id":"1bab7b3c-c6ab-4faa-9a0b-c6c9ef62e2e6","block_type":"box","text":"The Sub-Fund's performance is compared against the Markit iBoxx® Non-Gilts Total Return Index (the “Index”)","page_number":134,"box":{"x":62,"y":530,"width":821,"height":11}},{"id":"3c481b85-7e89-473c-95ec-e32e2fbe65c3","block_type":"box","text":"□","page_number":134,"box":{"x":886,"y":531,"width":5,"height":4}},{"id":"0066beaa-2ec0-42f4-88cd-e94c0094f5ac","block_type":"box","text":".","page_number":134,"box":{"x":893,"y":537,"width":2,"height":2}},{"id":"7fb132b8-c833-4771-b50e-1fc3eddc45c2","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, which is only a representation of the investment","page_number":134,"box":{"x":62,"y":549,"width":861,"height":12}},{"id":"a2f68f28-9758-4074-b988-248c3db3dddf","block_type":"box","text":"universe, therefore the Sub-Fund will hold bonds that are not part of the Index, and will only hold a relatively small","page_number":134,"box":{"x":63,"y":563,"width":859,"height":11}},{"id":"ea499cce-0638-49e5-9937-dfbdf3fede81","block_type":"box","text":"proportion of bonds relative to the number in the Index.","page_number":134,"box":{"x":62,"y":577,"width":406,"height":11}},{"id":"f51e408e-9559-4481-8fbe-428247a29a12","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":134,"box":{"x":62,"y":596,"width":861,"height":12}},{"id":"bcecbe49-33c4-41e1-8d51-6e2f4ec546ab","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":134,"box":{"x":63,"y":610,"width":859,"height":11}},{"id":"4f22e877-cab7-4fe1-80d5-bb6c53317664","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 0% and 2% when","page_number":134,"box":{"x":62,"y":624,"width":860,"height":11}},{"id":"e9a2c65d-fbfe-43d5-bdcf-03ddbf3f3b93","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":134,"box":{"x":62,"y":637,"width":650,"height":12}},{"id":"8662bd05-809c-46de-948c-64d2f0e3d6cb","block_type":"box","text":"The Index represents the performance of a broad range of investment grade bonds issued by companies (including","page_number":134,"box":{"x":62,"y":657,"width":860,"height":11}},{"id":"649572b8-494f-48b5-9b6f-e24df5e5712f","block_type":"box","text":"supranational organisations) denominated in Sterling and with a date to maturity exceeding 1 year, but excludes","page_number":134,"box":{"x":62,"y":671,"width":861,"height":11}},{"id":"ce6f89e6-d486-4956-a7c6-c7918c39ad91","block_type":"box","text":"government bonds.","page_number":134,"box":{"x":62,"y":685,"width":142,"height":11}},{"id":"f6b68703-fcdf-4a7b-8a0d-4e4ee101819b","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":134,"box":{"x":62,"y":704,"width":861,"height":11}},{"id":"24107156-7c11-4814-88d3-bf8da6fc2d2c","block_type":"box","text":"the type of bonds in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the Sub","page_number":134,"box":{"x":62,"y":717,"width":860,"height":12}},{"id":"f8e0d2cd-5288-4039-b1d7-6f384ebc5819","block_type":"box","text":"Fund’s performance.","page_number":134,"box":{"x":63,"y":731,"width":151,"height":11}},{"id":"4710adfd-eccb-4bcf-9e51-227fb126f407","block_type":"box","text":"Additional Information","page_number":134,"box":{"x":62,"y":770,"width":177,"height":9}},{"id":"95114192-a997-46cc-9dda-5079991029c6","block_type":"box","text":"Investment Manager","page_number":134,"box":{"x":118,"y":797,"width":151,"height":11}},{"id":"b93d28ea-faab-47f4-bdb1-ae5eb16d488e","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":134,"box":{"x":352,"y":796,"width":294,"height":9}},{"id":"6de038e6-1f84-4b9f-87af-af14eaad7ea8","block_type":"box","text":"Type of Units","page_number":134,"box":{"x":116,"y":823,"width":98,"height":11}},{"id":"91f11fc7-b6ab-4493-83a2-764d790acd99","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":134,"box":{"x":353,"y":823,"width":292,"height":11}},{"id":"c838c10d-1460-48e4-8da7-c0ba0dcedd5d","block_type":"box","text":"UK Corporate Accumulation Units","page_number":134,"box":{"x":353,"y":849,"width":250,"height":11}},{"id":"c85e7350-06cb-4830-bbd2-73ccbe0101cc","block_type":"box","text":"Insured Pension Accumulation Units","page_number":134,"box":{"x":354,"y":875,"width":267,"height":9}},{"id":"f0862292-0b8f-4299-af5e-d0a4fa75252b","block_type":"box","text":"UK Institutional Accumulation Units","page_number":134,"box":{"x":353,"y":901,"width":260,"height":9}},{"id":"909910c8-9bdf-43b8-808a-2bc4fb034cbb","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":135,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"8e941152-6311-4a32-90c6-f8aa2f0e80a1","block_type":"box","text":"135","page_number":135,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"608d1cee-3926-42a6-a8dc-5bd7bb431365","block_type":"box","text":"Aviva Investors: Confidential","page_number":135,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"c86ca2dd-b5c9-4f8c-b389-ef1320eb7b3b","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 1)","page_number":135,"box":{"x":352,"y":59,"width":369,"height":11}},{"id":"e471ae85-4ed8-49a8-ad2b-b12e1c105906","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 2)","page_number":135,"box":{"x":352,"y":85,"width":369,"height":11}},{"id":"17cf71bf-b933-4f81-99d8-8f706bd547dc","block_type":"box","text":"Dealing Day","page_number":135,"box":{"x":118,"y":111,"width":89,"height":12}},{"id":"4d967a7e-6de8-4b6f-a41a-efa9dfdb28e5","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":135,"box":{"x":354,"y":111,"width":393,"height":11}},{"id":"1d4b73bc-472b-4c1e-b64b-16b6e89da390","block_type":"box","text":"Deal Cut-Off Point","page_number":135,"box":{"x":118,"y":137,"width":134,"height":9}},{"id":"1919d1de-0d45-418f-b8a8-31d8a2eb74fb","block_type":"box","text":"2.00 p.m.","page_number":135,"box":{"x":353,"y":138,"width":67,"height":11}},{"id":"9a5da786-c19b-4edc-bc9e-80e5edaa95bf","block_type":"box","text":"Valuation Point","page_number":135,"box":{"x":117,"y":164,"width":112,"height":8}},{"id":"fc99f9c7-755d-448e-9527-c5434d036e84","block_type":"box","text":"3.00 p.m.","page_number":135,"box":{"x":353,"y":164,"width":67,"height":11}},{"id":"651237fc-4cc6-448f-bea1-376b91d3670f","block_type":"box","text":"*Minimum Investment","page_number":135,"box":{"x":117,"y":190,"width":172,"height":8}},{"id":"36e04be1-84a7-44ba-a9f9-e71f5931cc66","block_type":"box","text":"UK Corporate Income","page_number":135,"box":{"x":118,"y":216,"width":160,"height":11}},{"id":"db1ab9df-6649-4c6f-82ea-b852e51fec72","block_type":"box","text":"Distribution Units, UK","page_number":135,"box":{"x":118,"y":230,"width":158,"height":10}},{"id":"cb66e1df-57fd-4856-8eb5-dcc317b34c78","block_type":"box","text":"Corporate Accumulation","page_number":135,"box":{"x":117,"y":243,"width":178,"height":11}},{"id":"dd52b140-8252-4a07-ba4f-edec38cae034","block_type":"box","text":"Units, Insured Pension","page_number":135,"box":{"x":118,"y":257,"width":166,"height":10}},{"id":"252a34fe-8be9-4991-ae9a-42590e447f1b","block_type":"box","text":"Accumulation Units, UK","page_number":135,"box":{"x":116,"y":270,"width":176,"height":11}},{"id":"a4dc00be-7947-4b8c-8a0f-453b42a8912f","block_type":"box","text":"Institutional Accumulation","page_number":135,"box":{"x":118,"y":284,"width":187,"height":9}},{"id":"d3df5024-77c5-4f41-9e4e-d657c74999fe","block_type":"box","text":"Units, ACS (Fund of Fund)","page_number":135,"box":{"x":118,"y":298,"width":195,"height":11}},{"id":"d2f9976c-db5c-4507-b1fa-6bc48deb0cfa","block_type":"box","text":"Accumulation Units (Class","page_number":135,"box":{"x":116,"y":311,"width":195,"height":11}},{"id":"582ac5f4-eb3e-4871-a28a-8e583f31281c","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":135,"box":{"x":118,"y":325,"width":171,"height":11}},{"id":"e7ae834f-2052-4607-a3eb-cc572b9a7c9c","block_type":"box","text":"Accumulation Units (Class 2)","page_number":135,"box":{"x":116,"y":339,"width":215,"height":11}},{"id":"763b3215-7ae2-445d-a6b1-234aa6c26d56","block_type":"box","text":"No minimum","page_number":135,"box":{"x":353,"y":216,"width":92,"height":9}},{"id":"e7a0eaac-e30f-49ff-89c0-fa5eeed8db1c","block_type":"box","text":"Minimum withdrawal","page_number":135,"box":{"x":117,"y":365,"width":150,"height":9}},{"id":"5e0bfa2e-11e0-4078-9bd7-51fa01efaa65","block_type":"box","text":"No minimum","page_number":135,"box":{"x":353,"y":365,"width":92,"height":9}},{"id":"ceee5b43-8012-43c3-8538-8169e79fb6a5","block_type":"box","text":"Tax Criteria for investment","page_number":135,"box":{"x":116,"y":391,"width":213,"height":9}},{"id":"0247d25a-9090-45a1-b785-ba39628e40fd","block_type":"box","text":"UK Corporate Income","page_number":135,"box":{"x":118,"y":417,"width":160,"height":11}},{"id":"d0dbf3e1-0180-4474-8be6-52342fcc9a22","block_type":"box","text":"Distribution Units, UK","page_number":135,"box":{"x":118,"y":431,"width":158,"height":10}},{"id":"b3a738e8-5565-4bc7-85af-a96b8a6adac7","block_type":"box","text":"Corporate Accumulation","page_number":135,"box":{"x":117,"y":444,"width":178,"height":11}},{"id":"ee5e5e96-a1f1-44f8-beab-aaaebfbb12a7","block_type":"box","text":"Units","page_number":135,"box":{"x":118,"y":458,"width":36,"height":9}},{"id":"4e2d042b-348b-4079-85a7-13425c10b9d1","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":135,"box":{"x":352,"y":417,"width":404,"height":11}},{"id":"bcc3d27b-9670-4f38-8068-c2983ae05452","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":135,"box":{"x":353,"y":431,"width":404,"height":11}},{"id":"5826fe44-db39-4dae-aeb8-fdb2c02f86f1","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":135,"box":{"x":352,"y":444,"width":405,"height":12}},{"id":"5a11972d-139b-4002-b8fd-793f45e1ac7c","block_type":"box","text":"linked pension business contracts.","page_number":135,"box":{"x":353,"y":458,"width":253,"height":11}},{"id":"18978275-fd99-41bd-95fe-ee9f5d6d59e0","block_type":"box","text":"Insured Pension","page_number":135,"box":{"x":118,"y":484,"width":118,"height":9}},{"id":"f439c227-ba6f-4959-aaee-6f0181853de0","block_type":"box","text":"Accumulation Units","page_number":135,"box":{"x":116,"y":498,"width":143,"height":9}},{"id":"03398fc1-5a2d-46e2-bc56-25bae5288647","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":135,"box":{"x":352,"y":484,"width":404,"height":11}},{"id":"62554cda-0b7a-4243-b346-4d4eb22f29b6","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":135,"box":{"x":353,"y":498,"width":404,"height":11}},{"id":"ee587d41-e40c-41d8-b679-b7b8b7ad6630","block_type":"box","text":"back exclusively its unit linked pension business","page_number":135,"box":{"x":353,"y":512,"width":404,"height":11}},{"id":"9ac80c5b-c78b-4bdd-80c3-e4518d6f0567","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":135,"box":{"x":353,"y":525,"width":404,"height":11}},{"id":"508c83cf-3a1f-4c75-8d5d-85d1f74611f7","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":135,"box":{"x":353,"y":539,"width":307,"height":11}},{"id":"e1e2b25e-29dc-44c6-9d4a-7b6825c4181b","block_type":"box","text":"UK Institutional","page_number":135,"box":{"x":118,"y":565,"width":110,"height":9}},{"id":"22e403d5-eab1-410b-879d-3a846ce86f4b","block_type":"box","text":"Accumulation Units","page_number":135,"box":{"x":116,"y":579,"width":143,"height":8}},{"id":"074740d3-3eb3-4180-b83a-86840be5a521","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":135,"box":{"x":352,"y":565,"width":404,"height":11}},{"id":"2961ceef-0b82-4786-9cb6-4eeb0bd17848","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":135,"box":{"x":353,"y":579,"width":403,"height":11}},{"id":"19237890-5e10-4073-a84d-b2a40521179c","block_type":"box","text":"tax treaties.","page_number":135,"box":{"x":352,"y":592,"width":85,"height":9}},{"id":"a3422bc2-a276-4d7b-b010-2d5281573b61","block_type":"box","text":"ACS (Fund of Fund)","page_number":135,"box":{"x":116,"y":624,"width":149,"height":11}},{"id":"5b9481e9-faab-4f93-b376-0d490eae4da3","block_type":"box","text":"Accumulation Units (Class","page_number":135,"box":{"x":116,"y":638,"width":195,"height":11}},{"id":"2ff2169e-fb40-45be-99ef-7d465ee88b36","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":135,"box":{"x":118,"y":652,"width":171,"height":11}},{"id":"6837b2bc-4e1a-4252-9ef3-d2d79f7b36b3","block_type":"box","text":"Accumulation Units (Class 2)","page_number":135,"box":{"x":116,"y":665,"width":215,"height":11}},{"id":"6dd1e728-d11a-45ab-9e8e-e6230759a70d","block_type":"box","text":"A sub-fund of a UK authorised contractual scheme","page_number":135,"box":{"x":352,"y":624,"width":375,"height":9}},{"id":"07720d4f-d638-4019-befe-0e211354ab9c","block_type":"box","text":"**Current Charges:","page_number":135,"box":{"x":117,"y":691,"width":149,"height":12}},{"id":"68fb6009-8699-483c-8f23-9d8c9064d0a7","block_type":"box","text":"UK Corporate Income","page_number":135,"box":{"x":118,"y":717,"width":160,"height":12}},{"id":"67244caa-eb78-45e7-97c7-477293c646b3","block_type":"box","text":"Distribution Units, UK","page_number":135,"box":{"x":118,"y":731,"width":158,"height":11}},{"id":"afedf02d-d119-4139-bee5-8add9c2916e0","block_type":"box","text":"Corporate Accumulation","page_number":135,"box":{"x":117,"y":745,"width":178,"height":11}},{"id":"3b701a98-3d4c-4534-9e99-5e03755034c1","block_type":"box","text":"Units, Insured Pension","page_number":135,"box":{"x":118,"y":759,"width":166,"height":10}},{"id":"770d9996-6b65-403c-b596-b2b4a4910b87","block_type":"box","text":"Accumulation Units, UK","page_number":135,"box":{"x":116,"y":772,"width":176,"height":11}},{"id":"d9fef3b2-70f5-4ad8-b158-7d6cf8f1c938","block_type":"box","text":"Institutional Accumulation","page_number":135,"box":{"x":118,"y":786,"width":187,"height":9}},{"id":"4e4feea2-87d0-42fd-a1d2-b2e2e286a0ac","block_type":"box","text":"Units, ACS (Fund of Fund)","page_number":135,"box":{"x":118,"y":799,"width":195,"height":12}},{"id":"6d898264-565d-4e0b-a724-d09c7de375f9","block_type":"box","text":"Accumulation Units (Class","page_number":135,"box":{"x":116,"y":813,"width":195,"height":11}},{"id":"a4cfbe37-0c95-42a6-b24b-0ef991a199a5","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":135,"box":{"x":118,"y":827,"width":171,"height":11}},{"id":"96801115-7b76-4ae0-8853-ce3118b22db9","block_type":"box","text":"Accumulation Units (Class 2)","page_number":135,"box":{"x":116,"y":840,"width":215,"height":11}},{"id":"167cc3a8-9889-4349-8e46-c4971f1702f8","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":135,"box":{"x":352,"y":717,"width":404,"height":12}},{"id":"517d1a13-0b46-4428-b5cb-37d659110ea6","block_type":"box","text":"Unitholder***","page_number":135,"box":{"x":353,"y":731,"width":94,"height":9}},{"id":"bf191684-a484-4eeb-92ba-5a4d3e9d7448","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":135,"box":{"x":352,"y":751,"width":404,"height":11}},{"id":"2842a590-e268-4ef0-aaa6-c046d397a410","block_type":"box","text":"property","page_number":135,"box":{"x":353,"y":765,"width":60,"height":11}},{"id":"d9227fc1-7be0-4ae5-abe3-e4e9799ca8bd","block_type":"box","text":"Accounting Dates","page_number":135,"box":{"x":117,"y":867,"width":141,"height":11}},{"id":"5860248e-6945-4c25-af51-0405b6559deb","block_type":"box","text":"Annual Accounting Date","page_number":135,"box":{"x":116,"y":893,"width":180,"height":11}},{"id":"6cc09624-fc81-49b8-8124-14dd060f6c22","block_type":"box","text":"31 December","page_number":135,"box":{"x":353,"y":893,"width":100,"height":9}},{"id":"e7742639-7d38-44da-8857-c5391fa08804","block_type":"box","text":"First Accounting Date","page_number":135,"box":{"x":118,"y":919,"width":158,"height":11}},{"id":"84f45af2-1b03-4658-8b34-20d5ea405387","block_type":"box","text":"31 December 2015","page_number":135,"box":{"x":353,"y":919,"width":141,"height":9}},{"id":"dfe23ac2-36ac-4a91-9564-c9ab60ca0007","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":136,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"d3ac70a9-53f5-4b52-a85e-d7664b053e81","block_type":"box","text":"136","page_number":136,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"514c34f6-1764-4cf7-92f2-f64edc3c6356","block_type":"box","text":"Aviva Investors: Confidential","page_number":136,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"753ebd52-d99f-45df-b00e-307f0e8e4998","block_type":"box","text":"Annual Income Allocation","page_number":136,"box":{"x":116,"y":59,"width":188,"height":9}},{"id":"93c77169-0979-4fa1-a665-2b2a31a15510","block_type":"box","text":"Date","page_number":136,"box":{"x":118,"y":73,"width":33,"height":8}},{"id":"e519c648-9ad2-496f-af10-ce0ea5de396c","block_type":"box","text":"On or before 28 /29 February","page_number":136,"box":{"x":353,"y":59,"width":217,"height":11}},{"id":"2d0771ba-a945-4b2a-8f46-3ddf726d932f","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":136,"box":{"x":118,"y":99,"width":293,"height":11}},{"id":"b0185a2e-13b3-4634-ab8f-c03e7c808ca4","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":136,"box":{"x":62,"y":144,"width":861,"height":12}},{"id":"d455ae99-b671-4647-b694-f98b2c0a312e","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":136,"box":{"x":62,"y":158,"width":408,"height":11}},{"id":"e428662c-e476-40f9-9be4-fe6c5a9a917a","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":136,"box":{"x":62,"y":178,"width":642,"height":11}},{"id":"fa4cd624-350f-4181-aeaa-d31ca7c99aa2","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":136,"box":{"x":62,"y":197,"width":860,"height":12}},{"id":"af96452a-2f4c-4351-b02c-1a51f2a759cc","block_type":"box","text":"this Prospectus.","page_number":136,"box":{"x":62,"y":211,"width":117,"height":11}},{"id":"8c6a85e0-2b0b-4c7c-93e2-43bbfff2ac00","block_type":"box","text":"*** In certain circumstances where one Sub-Fund of the Scheme invests in Units of another, the ACS Management","page_number":136,"box":{"x":62,"y":230,"width":861,"height":12}},{"id":"aa830ca4-44ca-48f4-9bbc-c60f4c6a078e","block_type":"box","text":"charge will not be charged to the investing Sub-Fund. Further information is provided at paragraph 5.8 of Appendix 6","page_number":136,"box":{"x":62,"y":244,"width":861,"height":11}},{"id":"32834d92-4306-4746-817d-89931d47426f","block_type":"box","text":"below.","page_number":136,"box":{"x":62,"y":258,"width":46,"height":9}},{"id":"74426fe8-174a-4f77-b38d-a83d1d6138f7","block_type":"box","text":"□","page_number":136,"box":{"x":62,"y":279,"width":5,"height":4}},{"id":"7938f3d9-087f-48f2-9f79-40afc4e44163","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":136,"box":{"x":74,"y":278,"width":342,"height":8}},{"id":"cd0923a4-de55-43af-910e-b5cf85e1ef09","block_type":"box","text":"Securities Financing and other Transactions:","page_number":136,"box":{"x":62,"y":311,"width":358,"height":11}},{"id":"460d71d7-3ff4-4132-9e3d-90d22d0c3c1e","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":136,"box":{"x":62,"y":330,"width":860,"height":12}},{"id":"fd8bf9e0-7c9a-4068-9c4c-e532fda9f7cf","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":136,"box":{"x":62,"y":344,"width":438,"height":11}},{"id":"f7e8c362-e90b-41eb-bcda-038bef56ce22","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":136,"box":{"x":62,"y":383,"width":861,"height":11}},{"id":"824a55d5-acc7-49c5-a68a-a1b6bbff0553","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":136,"box":{"x":62,"y":397,"width":860,"height":11}},{"id":"a16b449c-9dd9-46d7-8f7b-91701a4a66f8","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":136,"box":{"x":62,"y":410,"width":861,"height":12}},{"id":"d767957f-fab1-4d15-848b-f11c61ca8c4e","block_type":"box","text":"10%.","page_number":136,"box":{"x":63,"y":425,"width":35,"height":8}},{"id":"0965e9f0-3568-4cac-b71f-d1e4c6060e1e","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":136,"box":{"x":62,"y":463,"width":860,"height":12}},{"id":"c38b5f50-ea5c-42fd-a458-60d8959c2848","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":136,"box":{"x":62,"y":477,"width":860,"height":11}},{"id":"f7de789d-2dd9-419f-883c-5623dca28c42","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":136,"box":{"x":62,"y":491,"width":861,"height":11}},{"id":"1a095cbd-a85f-4fb7-9324-11773e4862a7","block_type":"box","text":"is zero.","page_number":136,"box":{"x":62,"y":504,"width":52,"height":9}},{"id":"66d4e191-9004-4fee-9d5f-c4f5da2d3d98","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":136,"box":{"x":62,"y":563,"width":249,"height":9}},{"id":"28f312be-d433-40c0-86f5-35931fa046cf","block_type":"box","text":"Leverage","page_number":136,"box":{"x":63,"y":603,"width":72,"height":11}},{"id":"12abf048-aa75-4f1b-ac9a-d3bc044677e2","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":136,"box":{"x":63,"y":622,"width":860,"height":11}},{"id":"bd0b8380-5580-46b4-b56a-8a5fd8d1b3e1","block_type":"box","text":"management.","page_number":136,"box":{"x":62,"y":636,"width":101,"height":11}},{"id":"6483fe20-8095-497c-825c-c20a5a748009","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":136,"box":{"x":62,"y":669,"width":860,"height":11}},{"id":"be6da867-32ff-47eb-81dc-2a7f67b131d9","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":136,"box":{"x":62,"y":683,"width":649,"height":11}},{"id":"bfae490f-a078-4611-ac06-077a1a5b4c5e","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":136,"box":{"x":62,"y":710,"width":755,"height":11}},{"id":"22a05502-11a0-4b94-a468-cdb9febfb430","block_type":"box","text":"Permitted derivatives","page_number":136,"box":{"x":72,"y":740,"width":168,"height":9}},{"id":"962ceb11-d233-4c90-a134-7db15ee0d799","block_type":"box","text":"Permitted?","page_number":136,"box":{"x":383,"y":740,"width":85,"height":9}},{"id":"bd72c4a6-3598-418d-b24d-7618e5a04287","block_type":"box","text":"Prohibited?","page_number":136,"box":{"x":489,"y":740,"width":91,"height":9}},{"id":"5d278f24-65a7-4ac6-955d-8ce9c4bbbd41","block_type":"box","text":"Equity index futures","page_number":136,"box":{"x":72,"y":760,"width":146,"height":11}},{"id":"892d681b-0c4f-4d8c-82cf-596515b966dc","block_type":"box","text":"√","page_number":136,"box":{"x":530,"y":761,"width":8,"height":7}},{"id":"e59a3f9d-2370-41ef-b5e6-c03f7a99e5db","block_type":"box","text":"Government bond futures","page_number":136,"box":{"x":72,"y":779,"width":188,"height":9}},{"id":"ed7dec0e-3733-4f1c-838b-db0b2024ccda","block_type":"box","text":"√","page_number":136,"box":{"x":421,"y":779,"width":8,"height":8}},{"id":"d53d5315-0007-4904-a518-a5800c87fc7b","block_type":"box","text":"Equity index options","page_number":136,"box":{"x":72,"y":797,"width":148,"height":11}},{"id":"e27fbe4f-853d-422a-9d46-e4a57e8d9e9c","block_type":"box","text":"√","page_number":136,"box":{"x":530,"y":797,"width":8,"height":8}},{"id":"2d6a3654-00f3-4925-93de-e0d721d526b6","block_type":"box","text":"Forward foreign exchange","page_number":136,"box":{"x":72,"y":816,"width":193,"height":11}},{"id":"5fa814f3-18b4-4c29-8a6a-492cf9f2f1e4","block_type":"box","text":"√","page_number":136,"box":{"x":421,"y":816,"width":8,"height":8}},{"id":"972d6720-362d-496f-8829-5c29f77bc733","block_type":"box","text":"Index credit default swaps","page_number":136,"box":{"x":72,"y":834,"width":192,"height":11}},{"id":"74dfcfcb-1bce-4170-918e-dfd08ac29132","block_type":"box","text":"√","page_number":136,"box":{"x":421,"y":834,"width":8,"height":8}},{"id":"fe7d2883-2455-4a91-9db3-7b155303c27a","block_type":"box","text":"Interest rate swaps","page_number":136,"box":{"x":72,"y":853,"width":140,"height":10}},{"id":"2909f758-bb35-4904-84a9-f37f6a4c03f8","block_type":"box","text":"√","page_number":136,"box":{"x":421,"y":853,"width":8,"height":7}},{"id":"ab21f51c-9b7f-4657-88f6-c638c8fbf658","block_type":"box","text":"OTC equity options","page_number":136,"box":{"x":72,"y":871,"width":142,"height":11}},{"id":"44e3e7f8-b7b1-4eb7-9753-d64ffa60cf98","block_type":"box","text":"√","page_number":136,"box":{"x":530,"y":871,"width":8,"height":8}},{"id":"908b00cc-79c1-4383-9c25-468bcac364a4","block_type":"box","text":"Inflation swaps","page_number":136,"box":{"x":72,"y":889,"width":109,"height":11}},{"id":"6ea4ac03-ee3e-43ed-bae4-56af565dd6e6","block_type":"box","text":"√","page_number":136,"box":{"x":421,"y":890,"width":8,"height":7}},{"id":"75cb0b62-ed54-416b-a7d1-8fbd86cad143","block_type":"box","text":"Cross currency swaps","page_number":136,"box":{"x":72,"y":907,"width":163,"height":12}},{"id":"8347d41e-7765-43e4-a213-68d13ae214c1","block_type":"box","text":"√","page_number":136,"box":{"x":421,"y":908,"width":8,"height":8}},{"id":"b519192d-d501-4c2e-9aa9-e04d1b9c7579","block_type":"box","text":"Other","page_number":136,"box":{"x":72,"y":926,"width":41,"height":9}},{"id":"15cc8637-dbe2-45e6-bbfd-b54aad9f1057","block_type":"box","text":"√","page_number":136,"box":{"x":530,"y":926,"width":8,"height":8}},{"id":"386142ba-affd-44c7-911b-76b85c1a285c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":137,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"67749bbb-3ca6-4ea9-8f4e-32dfa186a5b5","block_type":"box","text":"137","page_number":137,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"f2837fc4-e8cb-4658-8631-6ce244fb5466","block_type":"box","text":"Aviva Investors: Confidential","page_number":137,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"b1aacf4e-b560-4c62-9869-bf6fc467caee","block_type":"box","text":"Leverage Limits","page_number":137,"box":{"x":63,"y":94,"width":128,"height":11}},{"id":"66c6574a-df16-4610-9a9f-7386024f6d8b","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":137,"box":{"x":200,"y":93,"width":722,"height":12}},{"id":"e4cd9b3c-3432-4cb1-b28b-3104ce89d9a1","block_type":"box","text":"Regime):","page_number":137,"box":{"x":63,"y":107,"width":65,"height":11}},{"id":"aa3a2f4a-f355-43cd-8a2e-173481cd4494","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":137,"box":{"x":62,"y":134,"width":471,"height":12}},{"id":"0a5a7c22-0522-4b64-bdf6-714db14c6555","block_type":"box","text":"","page_number":137,"box":{"x":62,"y":166,"width":6,"height":4}},{"id":"dde5746f-7e6a-475c-b23e-715863a42b9b","block_type":"box","text":"Gross Method: Up to 1.4:1","page_number":137,"box":{"x":92,"y":163,"width":193,"height":11}},{"id":"ef0f2f44-aef2-4396-b164-3ca7517c88cc","block_type":"box","text":"","page_number":137,"box":{"x":62,"y":182,"width":6,"height":5}},{"id":"297959c9-bb72-479b-bf19-5da656e7c35a","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":137,"box":{"x":92,"y":179,"width":183,"height":11}},{"id":"1d30ee57-091f-4439-bed9-afa6522df65e","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":137,"box":{"x":62,"y":207,"width":860,"height":11}},{"id":"9748ffe2-dfad-4e83-a1c3-cde6577ad82c","block_type":"box","text":"which case leverage will not exceed the following:","page_number":137,"box":{"x":62,"y":220,"width":368,"height":12}},{"id":"67755f4a-0a61-4fb0-a36e-ffeb9f44834c","block_type":"box","text":"","page_number":137,"box":{"x":62,"y":252,"width":6,"height":4}},{"id":"f8f082fe-ec61-4677-be84-0861326145f9","block_type":"box","text":"Gross Method: Up to 2.0:1","page_number":137,"box":{"x":92,"y":248,"width":193,"height":12}},{"id":"b4c17820-feb7-4964-9d1b-046ac800d46e","block_type":"box","text":"","page_number":137,"box":{"x":62,"y":268,"width":6,"height":4}},{"id":"73b1c7c5-1783-49e6-8661-fff893fd3fa3","block_type":"box","text":"Commitment: Up to 1.75:1","page_number":137,"box":{"x":92,"y":265,"width":192,"height":11}},{"id":"4b5d58d2-22b1-475f-b1fd-41cbdc4bcef1","block_type":"box","text":"Specific Risks","page_number":137,"box":{"x":62,"y":292,"width":113,"height":12}},{"id":"b6829f92-fda1-4029-b78e-c5350e0620a2","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":137,"box":{"x":181,"y":293,"width":462,"height":11}},{"id":"815f8d48-31a2-4400-9286-2a2342131163","block_type":"box","text":"","page_number":137,"box":{"x":62,"y":316,"width":6,"height":4}},{"id":"f247fe6a-527c-4603-bec7-949711df2189","block_type":"box","text":"Fixed Interest","page_number":137,"box":{"x":93,"y":313,"width":100,"height":9}},{"id":"555be37e-1b8a-498c-8bf6-cb8924d643a7","block_type":"box","text":"Past Performance – AI Sterling Corporate Bond Fund","page_number":137,"box":{"x":72,"y":347,"width":422,"height":11}},{"id":"0883f871-02c8-4e0d-b009-c791eef5df27","block_type":"box","text":"% Growth","page_number":137,"box":{"x":71,"y":367,"width":77,"height":8}},{"id":"62f3be9d-ad56-4e10-910b-78b2ae82d23e","block_type":"box","text":"1/1/2024 to","page_number":137,"box":{"x":281,"y":392,"width":94,"height":8}},{"id":"59ff1274-4696-4abb-a480-455bfac65a38","block_type":"box","text":"31/12/2024","page_number":137,"box":{"x":280,"y":404,"width":75,"height":8}},{"id":"5fd89932-ec16-4815-a016-b50bfc244fc1","block_type":"box","text":"1/1/2023 to","page_number":137,"box":{"x":394,"y":392,"width":94,"height":8}},{"id":"20539ca4-6ffb-4756-b3e1-26097761a882","block_type":"box","text":"31/12/2023","page_number":137,"box":{"x":394,"y":404,"width":74,"height":8}},{"id":"f52662bd-4a6c-493d-9353-7e2898173f00","block_type":"box","text":"1/1/2022 to","page_number":137,"box":{"x":508,"y":392,"width":94,"height":8}},{"id":"82e0c48f-f277-4438-a5ee-d1ea3a51d76a","block_type":"box","text":"31/12/2022","page_number":137,"box":{"x":507,"y":404,"width":75,"height":8}},{"id":"76fffef0-22f9-41d0-b8a9-52a2f0b632cd","block_type":"box","text":"1/1/2021 to","page_number":137,"box":{"x":621,"y":392,"width":94,"height":8}},{"id":"8f55c511-cc3c-428a-b4f0-29e0ccba4fb9","block_type":"box","text":"31/12/2021","page_number":137,"box":{"x":621,"y":404,"width":72,"height":8}},{"id":"d8476020-15ad-4fe4-90d7-2229f7fadc85","block_type":"box","text":"1/1/2020 to","page_number":137,"box":{"x":735,"y":392,"width":103,"height":8}},{"id":"859f392b-bf50-4513-a348-e12c169a532d","block_type":"box","text":"31/12/2020","page_number":137,"box":{"x":734,"y":404,"width":75,"height":8}},{"id":"30a5d583-0ec5-447c-9d51-4ee2b44cf4ee","block_type":"box","text":"UK Corporate Income","page_number":137,"box":{"x":72,"y":429,"width":189,"height":10}},{"id":"11f64a89-bae4-418d-8e81-7e17aa8e59c3","block_type":"box","text":"Distribution Units (%)","page_number":137,"box":{"x":72,"y":441,"width":140,"height":10}},{"id":"8bd4e0e4-dcbf-4b66-b208-de711bdd0a86","block_type":"box","text":"2.67","page_number":137,"box":{"x":280,"y":430,"width":29,"height":7}},{"id":"8733489d-5154-4b93-9d18-9fb47b8b2d02","block_type":"box","text":"9.35","page_number":137,"box":{"x":394,"y":430,"width":28,"height":7}},{"id":"f801cb0b-2876-48f3-befb-6642369a61f4","block_type":"box","text":"-18.91","page_number":137,"box":{"x":507,"y":430,"width":40,"height":7}},{"id":"08bab015-f04e-43dc-80ad-d6777d50bbb8","block_type":"box","text":"-2.7","page_number":137,"box":{"x":621,"y":430,"width":25,"height":7}},{"id":"ffd11d16-47a8-47c0-806e-89f88e2e168a","block_type":"box","text":"7.9","page_number":137,"box":{"x":734,"y":430,"width":20,"height":7}},{"id":"27b76f99-7833-4f97-811c-01eb4e0433fe","block_type":"box","text":"Insured Pension Income","page_number":137,"box":{"x":72,"y":472,"width":189,"height":8}},{"id":"30b1daee-14ad-4d25-8e18-354860fd4d81","block_type":"box","text":"Distribution Units (%)","page_number":137,"box":{"x":72,"y":485,"width":140,"height":10}},{"id":"fd42edec-b257-4976-8761-f252b07a6d4c","block_type":"box","text":"UK Institutional","page_number":137,"box":{"x":72,"y":509,"width":189,"height":8}},{"id":"62e7aab1-3305-4932-ae4d-188c4faba2ee","block_type":"box","text":"Accumulation Units (%)","page_number":137,"box":{"x":71,"y":522,"width":156,"height":10}},{"id":"21ee2dcf-1585-48af-abea-5618a53f7503","block_type":"box","text":"2.61","page_number":137,"box":{"x":280,"y":510,"width":27,"height":7}},{"id":"ea6a15e3-c8ec-4440-b136-87192e295d38","block_type":"box","text":"9.35","page_number":137,"box":{"x":394,"y":510,"width":28,"height":7}},{"id":"c7a7b5ff-6dba-4ee0-abd0-8e05ecaef4bc","block_type":"box","text":"-18.90","page_number":137,"box":{"x":507,"y":510,"width":42,"height":7}},{"id":"e4c3b941-53ce-4162-b656-021aa4ed2a10","block_type":"box","text":"-2.7","page_number":137,"box":{"x":621,"y":510,"width":25,"height":7}},{"id":"7da40160-ce75-458e-bd45-ce5cce2928fe","block_type":"box","text":"7.8","page_number":137,"box":{"x":734,"y":510,"width":20,"height":7}},{"id":"e21f7c65-6f23-45b6-a0cc-145a7925f917","block_type":"box","text":"ACS (Fund of Fund)","page_number":137,"box":{"x":71,"y":552,"width":190,"height":10}},{"id":"2da300f7-463f-4740-bd31-9bccdd255a81","block_type":"box","text":"Accumulation Units Class 1","page_number":137,"box":{"x":71,"y":565,"width":188,"height":8}},{"id":"5004e25a-a537-484a-b627-2c2bd03fa51b","block_type":"box","text":"(%)","page_number":137,"box":{"x":72,"y":577,"width":21,"height":10}},{"id":"0e8670b3-0b6a-4d36-85a5-06e1f8efe503","block_type":"box","text":"ACS (Fund of Fund)","page_number":137,"box":{"x":71,"y":602,"width":190,"height":10}},{"id":"6ed52cfb-9501-4159-805e-28a6af8e2604","block_type":"box","text":"Accumulation Units Class 2","page_number":137,"box":{"x":71,"y":614,"width":190,"height":8}},{"id":"6828ef26-9bf2-471e-91e6-ddbc2fcfc226","block_type":"box","text":"(%)","page_number":137,"box":{"x":72,"y":626,"width":21,"height":10}},{"id":"2ec50f93-8b51-47f2-8ed7-48b240525098","block_type":"box","text":"UK Corporate Accumulation","page_number":137,"box":{"x":72,"y":651,"width":189,"height":10}},{"id":"a0c09e33-a99b-42e8-9a3e-3a1f81376ded","block_type":"box","text":"Units (%)","page_number":137,"box":{"x":72,"y":663,"width":60,"height":10}},{"id":"644c0347-b663-487f-891c-5cb8edae36e7","block_type":"box","text":"2.62","page_number":137,"box":{"x":280,"y":651,"width":29,"height":8}},{"id":"5c64ee8e-1854-44fb-8e2f-bb317d75066a","block_type":"box","text":"9.37","page_number":137,"box":{"x":394,"y":651,"width":28,"height":8}},{"id":"b71f8865-d405-4191-bc5a-819d3f08eb9f","block_type":"box","text":"-18.93","page_number":137,"box":{"x":507,"y":651,"width":42,"height":8}},{"id":"86818fb9-8927-41cb-8847-33fe5ffc1eb1","block_type":"box","text":"-2.7","page_number":137,"box":{"x":621,"y":651,"width":25,"height":8}},{"id":"15a4259f-9d7c-4cc1-888c-2af98d35c18c","block_type":"box","text":"7.9","page_number":137,"box":{"x":734,"y":651,"width":20,"height":8}},{"id":"4621a9d2-47f7-4349-a847-4ef332a3c037","block_type":"box","text":"Insured Pension","page_number":137,"box":{"x":72,"y":694,"width":189,"height":8}},{"id":"89e0e23b-8362-43b8-9879-8bd51946614a","block_type":"box","text":"Accumulation Units (%)","page_number":137,"box":{"x":71,"y":706,"width":156,"height":10}},{"id":"ffed01a0-a1ac-4482-a288-82c9f927b9c8","block_type":"box","text":"2.62","page_number":137,"box":{"x":280,"y":694,"width":29,"height":8}},{"id":"b23630a4-eb23-420f-b554-fce6f8f810c8","block_type":"box","text":"9.37","page_number":137,"box":{"x":394,"y":694,"width":28,"height":8}},{"id":"0ddb057a-a1e9-4287-8515-b38082a07d16","block_type":"box","text":"-18.93","page_number":137,"box":{"x":507,"y":694,"width":42,"height":8}},{"id":"2dfbe330-1a74-434f-a765-c53d5f8bd7ba","block_type":"box","text":"-2.7","page_number":137,"box":{"x":621,"y":694,"width":25,"height":8}},{"id":"e6e9608d-12e1-4bbd-ba41-66838fc66b71","block_type":"box","text":"7.9","page_number":137,"box":{"x":734,"y":694,"width":20,"height":8}},{"id":"6fbf9b37-6622-4914-81d5-cdc0149f0993","block_type":"box","text":"UK Fund of Fund","page_number":137,"box":{"x":72,"y":737,"width":189,"height":8}},{"id":"0ad04672-cd63-4280-9fa5-b1dac8085f45","block_type":"box","text":"Accumulation Units (%)","page_number":137,"box":{"x":71,"y":749,"width":156,"height":10}},{"id":"558d5aa0-b81f-46b8-9f76-8d8a1c44d3a0","block_type":"box","text":"¥","page_number":137,"box":{"x":72,"y":777,"width":9,"height":8}},{"id":"7ea1ca45-6f19-4028-baf4-cf343b38c62a","block_type":"box","text":"Before 5 June 2024 –","page_number":137,"box":{"x":90,"y":777,"width":173,"height":8}},{"id":"f2bc0cb8-b90e-4a8f-981c-cee9c8c63d10","block_type":"box","text":"Index - Markit iBoxx®","page_number":137,"box":{"x":72,"y":789,"width":191,"height":8}},{"id":"ee043c53-71ff-4f41-90a3-f08afd255bdc","block_type":"box","text":"Sterling Collateralized and","page_number":137,"box":{"x":72,"y":801,"width":191,"height":11}},{"id":"20b89152-b3ae-4110-a04e-db83bf07b5e7","block_type":"box","text":"Corporates Index Total","page_number":137,"box":{"x":73,"y":814,"width":190,"height":10}},{"id":"5f4249af-56c7-475b-b66d-daf3d9c5950f","block_type":"box","text":"Return Index /","page_number":137,"box":{"x":72,"y":826,"width":97,"height":8}},{"id":"ac2a1367-97f4-44ce-9936-6b15c3b93a6d","block_type":"box","text":"On and from","page_number":137,"box":{"x":173,"y":826,"width":89,"height":8}},{"id":"3bdfe318-6523-41f4-a500-8b2fb7d602d7","block_type":"box","text":"5 June 2024 -","page_number":137,"box":{"x":72,"y":839,"width":94,"height":7}},{"id":"39716ed2-e54a-46df-a353-1906d63f2f78","block_type":"box","text":"Markit iBoxx®","page_number":137,"box":{"x":170,"y":838,"width":93,"height":8}},{"id":"23499dc1-1af7-4ad3-b96f-f65c7cf79a31","block_type":"box","text":"Sterling Non-Gilts Total","page_number":137,"box":{"x":72,"y":851,"width":191,"height":10}},{"id":"c237e457-d05a-4425-8ad3-5e7b18ee72d2","block_type":"box","text":"Return","page_number":137,"box":{"x":72,"y":863,"width":45,"height":8}},{"id":"2cbc358b-3c6d-43e7-a584-ae5dd8b8a1e0","block_type":"box","text":"1.82","page_number":137,"box":{"x":283,"y":777,"width":27,"height":8}},{"id":"51cd5cdb-86b9-4367-888b-ccbe0ec73974","block_type":"box","text":"9.70","page_number":137,"box":{"x":394,"y":777,"width":30,"height":8}},{"id":"314c4629-7362-49e0-8529-1216b61abdb0","block_type":"box","text":"-19.29","page_number":137,"box":{"x":508,"y":777,"width":43,"height":8}},{"id":"c5e82c35-7a68-49c2-86d1-96891e670133","block_type":"box","text":"-3.1","page_number":137,"box":{"x":622,"y":777,"width":24,"height":8}},{"id":"f6395cd7-18f8-4f6e-9410-bbc62e19d208","block_type":"box","text":"8.6","page_number":137,"box":{"x":735,"y":777,"width":21,"height":8}},{"id":"4555a495-a027-448f-b400-89b1e2058969","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":138,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"836d0841-35ee-40e9-810f-dfdea60d3740","block_type":"box","text":"138","page_number":138,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"c72e02bf-2a8f-4cdf-af74-82ae5bd6dd23","block_type":"box","text":"Aviva Investors: Confidential","page_number":138,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"45df864c-ff98-4007-89ad-5f613aca4529","block_type":"box","text":"¥ Prior to 5 June 2024, the comparator benchmark of this Sub-Fund was Markit iBoxx® Sterling Collateralized and","page_number":138,"box":{"x":61,"y":52,"width":861,"height":12}},{"id":"bbd3dbc1-392f-4a7d-8e36-5954696618cf","block_type":"box","text":"Corporates Index Total Return","page_number":138,"box":{"x":62,"y":66,"width":225,"height":11}},{"id":"bb82f138-2085-46b3-8115-6a6fe701fe8d","block_type":"box","text":"□","page_number":138,"box":{"x":289,"y":68,"width":5,"height":3}},{"id":"7e1fadf3-967b-4ad3-8d2c-423dc38b9023","block_type":"box","text":", and therefore the performance data shown prior to this date relates to this previous","page_number":138,"box":{"x":296,"y":66,"width":627,"height":11}},{"id":"a2c4b086-475c-4fd8-aa10-325dc3a7ab74","block_type":"box","text":"benchmark.","page_number":138,"box":{"x":62,"y":80,"width":86,"height":9}},{"id":"d42786f2-9b69-4609-af51-0a9082c455e0","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":139,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"134f50e9-6b50-4fcc-94e6-e72edb05e65e","block_type":"box","text":"139","page_number":139,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"fb61f3b4-5ae2-4e92-ab6a-72e63b3836af","block_type":"box","text":"Aviva Investors: Confidential","page_number":139,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"4504442f-3650-422b-a1f6-c1e715384a33","block_type":"box","text":"AI Index Linked Gilt Fund","page_number":139,"box":{"x":62,"y":53,"width":201,"height":8}},{"id":"b11f794f-0605-428b-af6c-e29f8b59721b","block_type":"box","text":"FCA product reference number: 658317","page_number":139,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"be371c49-b3e5-4889-8187-fd9ca1672c32","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":139,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"5543d5be-5568-45e6-bb91-3b3bbf074e1b","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":139,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"d67d2b33-8181-4ee2-8cdf-3260ee98ea79","block_type":"box","text":"Investment Objective and Policy","page_number":139,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"2b52b329-35af-4722-8b80-fd82f9598399","block_type":"box","text":"The Sub-Fund aims to grow your investment by investing in bonds issued or guaranteed by governments over the","page_number":139,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"7b0d175d-f8ba-4ad7-b4aa-84f9a17745e9","block_type":"box","text":"long term (5 years or more).","page_number":139,"box":{"x":62,"y":197,"width":206,"height":12}},{"id":"10d4b494-bcae-4ee1-8c04-cd86d228ad57","block_type":"box","text":"Core investment:","page_number":139,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"497a05a2-06d1-491e-8dc9-c7b8db04bd3a","block_type":"box","text":"At least 95% of the Sub-Fund will be invested in index-linked bonds which are issued or guaranteed by the UK","page_number":139,"box":{"x":62,"y":236,"width":861,"height":12}},{"id":"214a9c7c-cbed-4dda-bd49-3d118912d498","block_type":"box","text":"Government (known as gilts), or issued or guaranteed by other governments with a rating the same as or higher than","page_number":139,"box":{"x":62,"y":250,"width":860,"height":11}},{"id":"bf04bccc-83e5-4320-822d-8ab8b8820154","block_type":"box","text":"that of the UK.","page_number":139,"box":{"x":62,"y":264,"width":105,"height":9}},{"id":"96741805-7185-4b5f-8380-3160e6f9fb77","block_type":"box","text":"At least 80% of this investment must be in index-linked bonds issued by the UK Government.","page_number":139,"box":{"x":62,"y":283,"width":688,"height":12}},{"id":"ec310294-e08b-4513-a3c7-f2a7a274e2a0","block_type":"box","text":"Index-linked means that the bonds’ return is adjusted in line with the rate of inflation.","page_number":139,"box":{"x":63,"y":303,"width":621,"height":11}},{"id":"6b06ebcb-4737-4cee-be0a-b220ce60a1af","block_type":"box","text":"All bonds must be denominated in, or hedged back to Sterling.","page_number":139,"box":{"x":62,"y":323,"width":461,"height":11}},{"id":"2de0f29a-3cd0-4af6-9d23-f692579a73a5","block_type":"box","text":"Other investments:","page_number":139,"box":{"x":62,"y":342,"width":151,"height":9}},{"id":"e6a1281f-64a8-4c89-ac36-5bba256557b2","block_type":"box","text":"The Sub-Fund may also invest in investment grade bonds issued by companies, other funds (including funds","page_number":139,"box":{"x":62,"y":362,"width":861,"height":11}},{"id":"ec53c3c6-1bdd-40dd-a014-2674bb4c3421","block_type":"box","text":"managed by Aviva Investors companies), derivatives, cash and deposits.","page_number":139,"box":{"x":62,"y":375,"width":539,"height":12}},{"id":"0754894d-9d00-4894-8d0e-ce985db7728a","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":139,"box":{"x":63,"y":395,"width":860,"height":11}},{"id":"e90f5530-79ed-48f4-a872-78b0878c26eb","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":139,"box":{"x":62,"y":409,"width":861,"height":11}},{"id":"1897679f-16c0-4652-bd5d-c30d3a4e0e38","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":139,"box":{"x":62,"y":422,"width":545,"height":12}},{"id":"52ffebd7-3700-4f74-83d9-b3776104ba3b","block_type":"box","text":"Strategy:","page_number":139,"box":{"x":62,"y":442,"width":70,"height":11}},{"id":"28a5401c-601f-4d23-a109-34ed656d3435","block_type":"box","text":"The Sub-Fund is actively managed, and whilst this focus will be on investing in UK Government bonds, the Investment","page_number":139,"box":{"x":62,"y":462,"width":861,"height":11}},{"id":"3fe4d628-aca0-4879-b68d-9970625875bb","block_type":"box","text":"Manager will select appropriate investments from a range of global government bond markets with a view to delivering","page_number":139,"box":{"x":63,"y":475,"width":859,"height":12}},{"id":"fea36267-8a38-4399-a67d-9b96747093eb","block_type":"box","text":"optimum risk adjusted-returns. The Investment Manager will focus on identifying investments through assessment of","page_number":139,"box":{"x":62,"y":489,"width":861,"height":11}},{"id":"298ff80b-e09d-45b1-83da-17331de7c586","block_type":"box","text":"the economic and political stability of individual countries, the valuation of the bonds relative to the market, the views","page_number":139,"box":{"x":62,"y":503,"width":861,"height":11}},{"id":"c5665d2c-0f17-4f5c-895d-d58306b0fd11","block_type":"box","text":"of independent risk rating agencies, and any other relevant factors, whilst also taking advantage of short-term","page_number":139,"box":{"x":62,"y":516,"width":860,"height":11}},{"id":"546fc9eb-c5ac-425a-ae4d-45b0fde572b8","block_type":"box","text":"opportunities when they arise.","page_number":139,"box":{"x":62,"y":530,"width":221,"height":11}},{"id":"870606f3-863e-4519-933b-8ad6e00a50af","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":139,"box":{"x":62,"y":549,"width":527,"height":12}},{"id":"2398da70-42f2-4224-a879-61d85bb222ec","block_type":"box","text":"please see Appendix 2 for information on","page_number":139,"box":{"x":594,"y":550,"width":328,"height":11}},{"id":"d534bf8c-e1b5-4481-b016-20fa28a3e0bd","block_type":"box","text":"these limited investment restrictions.","page_number":139,"box":{"x":62,"y":563,"width":295,"height":9}},{"id":"9e923217-88e2-487f-b131-9ac593ac70fa","block_type":"box","text":"Performance & Risk Measurement:","page_number":139,"box":{"x":63,"y":583,"width":275,"height":9}},{"id":"d796fded-b42d-4611-a913-403420d9d917","block_type":"box","text":"The Sub-Fund's performance is compared against the FTSE® UK Index-Linked Gilts All Stocks Index Total Return","page_number":139,"box":{"x":62,"y":602,"width":860,"height":12}},{"id":"038ebdcd-8e19-4be2-babb-0ed0126b257a","block_type":"box","text":"(“the Index”)","page_number":139,"box":{"x":63,"y":616,"width":89,"height":11}},{"id":"6476ee7a-3af5-4b9f-b220-445e4ae0cb75","block_type":"box","text":"□","page_number":139,"box":{"x":154,"y":617,"width":5,"height":4}},{"id":"51ed4daa-7cd1-4a1d-81b7-f2794c2f0941","block_type":"box","text":".","page_number":139,"box":{"x":161,"y":623,"width":2,"height":2}},{"id":"7555d226-be34-4523-8f12-6a7f0d64128f","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, which is only a representation of the investment","page_number":139,"box":{"x":62,"y":636,"width":861,"height":11}},{"id":"4dd2dfe5-6f6d-4e4a-ba4b-83a78c1b4e11","block_type":"box","text":"universe, therefore the Sub-Fund will hold bonds that are not part of the Index.","page_number":139,"box":{"x":63,"y":649,"width":579,"height":11}},{"id":"ae1145ac-16eb-48f1-8577-ba2d4ccf230e","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":139,"box":{"x":62,"y":669,"width":861,"height":11}},{"id":"01fec33a-cbcb-4847-b54e-2e639db6dcc5","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":139,"box":{"x":63,"y":682,"width":859,"height":12}},{"id":"ee4061d8-e1ec-4936-8ad4-79496c31961e","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 0% and 2% when","page_number":139,"box":{"x":62,"y":696,"width":860,"height":11}},{"id":"aa18f24a-d036-45a0-b476-a0eaaedcdad6","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":139,"box":{"x":62,"y":710,"width":650,"height":11}},{"id":"f41f5f90-79f5-4d19-ba07-818d8bfcf8ed","block_type":"box","text":"The Index represents the performance of a range of UK index-linked gilts, and includes UK gilts listed on the London","page_number":139,"box":{"x":62,"y":729,"width":860,"height":12}},{"id":"9563f091-d28e-4351-a49a-6061d9a5a7cb","block_type":"box","text":"Stock Exchange.","page_number":139,"box":{"x":62,"y":743,"width":124,"height":11}},{"id":"77853f60-d86b-4caa-947a-69356df18624","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":139,"box":{"x":62,"y":763,"width":861,"height":11}},{"id":"10fe0b56-972e-44df-a7a0-6b3947d35be3","block_type":"box","text":"the type of bonds in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the Sub","page_number":139,"box":{"x":62,"y":776,"width":860,"height":11}},{"id":"8c40e14f-2a8b-402e-894d-f15bb1bb0a3e","block_type":"box","text":"Fund’s performance.","page_number":139,"box":{"x":63,"y":790,"width":151,"height":11}},{"id":"4a944e29-a839-4a6e-be5c-048ba57e3508","block_type":"box","text":"Additional Information","page_number":139,"box":{"x":62,"y":810,"width":177,"height":8}},{"id":"2076eccc-63c7-41da-ab76-bc3e4d48f01b","block_type":"box","text":"Investment Manager","page_number":139,"box":{"x":118,"y":836,"width":151,"height":11}},{"id":"6e560215-61b6-4ae2-87da-68de19abf9c6","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":139,"box":{"x":352,"y":836,"width":294,"height":9}},{"id":"204409df-6428-41d0-b5ab-bce41935c4aa","block_type":"box","text":"Type of Units","page_number":139,"box":{"x":116,"y":862,"width":98,"height":11}},{"id":"07344299-4404-4ff9-a7d6-23eee8717b3e","block_type":"box","text":"UK Corporate Accumulation Units","page_number":139,"box":{"x":353,"y":862,"width":250,"height":11}},{"id":"81aac9c7-044f-4a11-9470-5c1ea807b3f0","block_type":"box","text":"Insured Pension Accumulation Units","page_number":139,"box":{"x":354,"y":888,"width":267,"height":9}},{"id":"ddd94c12-e65d-457d-bbc0-c603b7434ad8","block_type":"box","text":"UK Institutional Accumulation Units","page_number":139,"box":{"x":353,"y":914,"width":260,"height":9}},{"id":"34c8e2c1-5765-418b-b213-89b603c6d5e1","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":140,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"76eb0a9c-f999-4483-8958-3b9c0dac5f95","block_type":"box","text":"140","page_number":140,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"6e6841cf-2ef9-4210-ac46-db07d7f51b29","block_type":"box","text":"Aviva Investors: Confidential","page_number":140,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"2463d1b2-74c7-436a-8102-cc641f0856c6","block_type":"box","text":"Dealing Day","page_number":140,"box":{"x":118,"y":59,"width":89,"height":11}},{"id":"252b7bb1-45f0-4763-b4d5-a7e76b03504c","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":140,"box":{"x":354,"y":59,"width":393,"height":11}},{"id":"62b4f9f8-f57b-4030-ad7a-608b3523c577","block_type":"box","text":"Deal Cut-Off Point","page_number":140,"box":{"x":118,"y":85,"width":134,"height":9}},{"id":"f2ec7573-67b9-487f-8644-d0f2af32e631","block_type":"box","text":"1.00 p.m.","page_number":140,"box":{"x":354,"y":86,"width":66,"height":10}},{"id":"ca4c965e-0a99-478b-bfad-a82ab375b44f","block_type":"box","text":"Valuation Point","page_number":140,"box":{"x":117,"y":111,"width":112,"height":9}},{"id":"d34c6571-3923-4892-905b-e1b5c6d2dfdf","block_type":"box","text":"2.00 p.m.","page_number":140,"box":{"x":353,"y":112,"width":67,"height":10}},{"id":"7bf7912e-5e13-4841-b85f-1d8ac1aeb9b2","block_type":"box","text":"*Minimum Investment","page_number":140,"box":{"x":117,"y":138,"width":172,"height":8}},{"id":"b764b95c-3fdd-4d53-bfe0-9d2da398c258","block_type":"box","text":"UK Corporate Accumulation","page_number":140,"box":{"x":118,"y":163,"width":205,"height":12}},{"id":"6a9057b8-e209-4d4f-95ad-6ffb6ed2a901","block_type":"box","text":"Units, Insured Pension","page_number":140,"box":{"x":118,"y":177,"width":166,"height":10}},{"id":"5953dc2a-074e-4ce4-90e1-39220633b338","block_type":"box","text":"Accumulation Units","page_number":140,"box":{"x":116,"y":191,"width":143,"height":9}},{"id":"818759a0-c1d4-445f-8ece-d2fe31850e57","block_type":"box","text":",","page_number":140,"box":{"x":261,"y":198,"width":2,"height":3}},{"id":"d5da16e9-b60f-43ae-a50c-8a0462687e6a","block_type":"box","text":"UK","page_number":140,"box":{"x":271,"y":191,"width":21,"height":9}},{"id":"63a3f82d-9826-4103-9464-454198df0051","block_type":"box","text":"Institutional Accumulation","page_number":140,"box":{"x":118,"y":205,"width":187,"height":8}},{"id":"75c41dd0-78cc-4f23-9baf-ed70131f150f","block_type":"box","text":"Units","page_number":140,"box":{"x":118,"y":218,"width":36,"height":9}},{"id":"41f01035-33e9-48d2-b5d7-1bad836a5a38","block_type":"box","text":"No minimum","page_number":140,"box":{"x":353,"y":164,"width":92,"height":8}},{"id":"2fb9b079-475f-4db0-b98f-0445edfd3ec0","block_type":"box","text":"Minimum withdrawal","page_number":140,"box":{"x":117,"y":245,"width":150,"height":8}},{"id":"5e873bab-293f-4013-85df-5bdecc5b2a3c","block_type":"box","text":"No minimum","page_number":140,"box":{"x":353,"y":245,"width":92,"height":8}},{"id":"bee455b9-af5b-4ace-8e0a-a14b3ec6f91b","block_type":"box","text":"Tax Criteria for investment","page_number":140,"box":{"x":116,"y":270,"width":213,"height":9}},{"id":"ba13f93c-4d98-4d38-b331-08a6d586a78f","block_type":"box","text":"UK Corporate Accumulation","page_number":140,"box":{"x":118,"y":296,"width":205,"height":12}},{"id":"18a46ad2-3e04-4d04-a5ce-94280953014b","block_type":"box","text":"Units","page_number":140,"box":{"x":118,"y":310,"width":36,"height":9}},{"id":"6d5658e8-3314-4970-b385-e03dcb1c3ce1","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":140,"box":{"x":352,"y":296,"width":404,"height":12}},{"id":"e06c243b-a1f3-4ebd-825a-27ad4f71eea7","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":140,"box":{"x":353,"y":310,"width":404,"height":11}},{"id":"85d91a55-b7c7-4c5b-96fb-335918b0e2ae","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":140,"box":{"x":352,"y":324,"width":405,"height":11}},{"id":"16b0334c-17fb-4c93-b1b4-8df4e07eda0b","block_type":"box","text":"linked pension business contracts.","page_number":140,"box":{"x":353,"y":338,"width":253,"height":11}},{"id":"fc0e01f8-f5ac-4746-9c45-0fab4d2db482","block_type":"box","text":"Insured Pension","page_number":140,"box":{"x":118,"y":364,"width":118,"height":8}},{"id":"a1d8f7f0-73ff-49fa-91d8-1d08cc4c39c3","block_type":"box","text":"Accumulation Units","page_number":140,"box":{"x":116,"y":378,"width":143,"height":8}},{"id":"2b54bd98-00ab-407f-87e6-51639e52ab61","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":140,"box":{"x":352,"y":364,"width":404,"height":11}},{"id":"ba81a849-6cbe-4146-a29e-bcfa1c81e2f0","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":140,"box":{"x":353,"y":377,"width":404,"height":11}},{"id":"c2849aa6-ed77-4c54-baac-37ca5cc30b56","block_type":"box","text":"back exclusively its unit linked pension business","page_number":140,"box":{"x":353,"y":391,"width":404,"height":11}},{"id":"ea18a585-e37d-4671-9f95-33c270a2f1da","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":140,"box":{"x":353,"y":405,"width":404,"height":11}},{"id":"44ae3f50-b4c7-4cee-ad15-cf5839d53237","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":140,"box":{"x":353,"y":418,"width":307,"height":11}},{"id":"6d86068a-7a69-4dfc-aed3-3cb9b0c90ff7","block_type":"box","text":"UK Institutional","page_number":140,"box":{"x":118,"y":444,"width":110,"height":9}},{"id":"f1e74444-6eb6-4fdf-8396-0a7ab0b27550","block_type":"box","text":"Accumulation Units","page_number":140,"box":{"x":116,"y":458,"width":143,"height":9}},{"id":"297bd3e5-cdb8-475d-82ce-3a8a2d848495","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":140,"box":{"x":352,"y":444,"width":404,"height":12}},{"id":"a5b19024-104a-4610-8139-880f1b7c3140","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":140,"box":{"x":353,"y":458,"width":403,"height":11}},{"id":"fe4871c9-abec-4a59-8efc-7370dc9b5171","block_type":"box","text":"tax treaties.","page_number":140,"box":{"x":352,"y":472,"width":85,"height":9}},{"id":"f8b6626d-43cc-4145-9d70-c17dcfc7ddb2","block_type":"box","text":"**Current Charges:","page_number":140,"box":{"x":117,"y":504,"width":149,"height":11}},{"id":"b4cb6b33-b3f2-4167-a004-c69b9c4c7ce4","block_type":"box","text":"UK Corporate Accumulation","page_number":140,"box":{"x":118,"y":530,"width":205,"height":11}},{"id":"7370c1eb-42fb-4f63-b498-72c9a5ec9cc7","block_type":"box","text":"Units, Insured Pension","page_number":140,"box":{"x":118,"y":544,"width":166,"height":10}},{"id":"ab483985-d03e-41c2-8395-26641b443b7a","block_type":"box","text":"Accumulation Units, UK","page_number":140,"box":{"x":116,"y":557,"width":176,"height":11}},{"id":"3b350c39-7ac5-40eb-aebb-669498a29d70","block_type":"box","text":"Institutional Accumulation","page_number":140,"box":{"x":118,"y":571,"width":187,"height":9}},{"id":"ff70b72b-7a76-43d8-9c42-0ae1ae3e63c2","block_type":"box","text":"Units","page_number":140,"box":{"x":118,"y":585,"width":36,"height":8}},{"id":"9a2e193f-5fff-48ac-807d-91c9647e2a2c","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":140,"box":{"x":352,"y":530,"width":404,"height":11}},{"id":"44b3fbdc-cf04-4d5e-bdfb-51df5b092860","block_type":"box","text":"Unitholder","page_number":140,"box":{"x":353,"y":544,"width":75,"height":8}},{"id":"e50cc7ec-073c-4a19-a00b-44cc1f692a8e","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":140,"box":{"x":352,"y":563,"width":404,"height":11}},{"id":"45733760-2514-4d33-b707-26784bdf7c0e","block_type":"box","text":"property","page_number":140,"box":{"x":353,"y":577,"width":60,"height":11}},{"id":"4b17e10b-7cb1-420c-b4d8-baec78b34b46","block_type":"box","text":"Accounting Dates","page_number":140,"box":{"x":117,"y":623,"width":141,"height":11}},{"id":"34218e4d-8db5-439c-8fdf-295e3468ac0d","block_type":"box","text":"Annual Accounting Date","page_number":140,"box":{"x":116,"y":649,"width":180,"height":11}},{"id":"99555dd8-36ad-46d4-8c1b-f6ce77323407","block_type":"box","text":"31 December","page_number":140,"box":{"x":353,"y":649,"width":100,"height":9}},{"id":"4e4478e1-4c21-4931-bdc3-f7672c2e6ac7","block_type":"box","text":"First Accounting Date","page_number":140,"box":{"x":118,"y":675,"width":158,"height":11}},{"id":"7c77b7e8-3b58-43a9-a3e8-e8cc438fcdd5","block_type":"box","text":"31 December 2017","page_number":140,"box":{"x":353,"y":675,"width":141,"height":9}},{"id":"5caa3a5a-9401-4c5c-9391-5c4b33be76ee","block_type":"box","text":"Annual Income Allocation","page_number":140,"box":{"x":116,"y":703,"width":188,"height":9}},{"id":"bb0a1802-e2da-4682-adea-29f5dfbb7eff","block_type":"box","text":"Date","page_number":140,"box":{"x":118,"y":717,"width":33,"height":8}},{"id":"b656144c-7f4e-4fc4-92e1-c98931a7d77c","block_type":"box","text":"On or before 28 /29 February","page_number":140,"box":{"x":353,"y":703,"width":217,"height":11}},{"id":"36c8731c-7db4-4294-b736-cfebbd95759a","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":140,"box":{"x":118,"y":743,"width":293,"height":11}},{"id":"ff3b28ea-33c3-428e-8a9d-e39d0455ccb2","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":140,"box":{"x":62,"y":769,"width":861,"height":11}},{"id":"40ac01d9-fbeb-464e-80a3-055d42ee9bbb","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":140,"box":{"x":62,"y":782,"width":408,"height":12}},{"id":"29e420c3-1a57-4ed4-9f09-bea9c631f6fd","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":140,"box":{"x":62,"y":802,"width":642,"height":11}},{"id":"ebd68af4-8fa5-4e36-b078-0d35e5ab4364","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":140,"box":{"x":62,"y":822,"width":860,"height":11}},{"id":"f19798a4-2036-4370-9e57-784bc089d902","block_type":"box","text":"this Prospectus.","page_number":140,"box":{"x":62,"y":835,"width":117,"height":11}},{"id":"8f2915c4-a087-40e9-ae44-a07b4fde9b0a","block_type":"box","text":"□","page_number":140,"box":{"x":62,"y":864,"width":5,"height":4}},{"id":"7a1b8d65-4adf-43c3-967e-0993d5d6292c","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":140,"box":{"x":74,"y":863,"width":342,"height":8}},{"id":"15fbfe56-7f89-4ffd-bcc2-c43352bf30d6","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":141,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"c55aac61-8c62-41a0-813f-bd2b3b8d8c7f","block_type":"box","text":"141","page_number":141,"box":{"x":781,"y":940,"width":16,"height":6}},{"id":"8b1ee1f3-a649-4df1-8943-d69ff1adb378","block_type":"box","text":"Aviva Investors: Confidential","page_number":141,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"9c613dfb-9ca2-4286-903e-296ee77aea6e","block_type":"box","text":"Securities Financing and other Transactions:","page_number":141,"box":{"x":62,"y":72,"width":358,"height":11}},{"id":"72e6d79a-993f-4b33-a20e-df3f5e23aea3","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":141,"box":{"x":62,"y":92,"width":860,"height":11}},{"id":"cb0ef23d-199c-435c-b157-6a04652726cf","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":141,"box":{"x":62,"y":105,"width":438,"height":11}},{"id":"340c0e15-5c86-4af5-b19a-3aa74f3770de","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":141,"box":{"x":62,"y":144,"width":861,"height":12}},{"id":"dcab414e-7655-47bd-9399-4cd494880ddb","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":141,"box":{"x":62,"y":158,"width":860,"height":11}},{"id":"61e5f298-51ea-4548-8542-3366aaa1f84c","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":141,"box":{"x":62,"y":172,"width":861,"height":11}},{"id":"a088ee14-e561-4437-934e-d29cd56d4ddb","block_type":"box","text":"50%.","page_number":141,"box":{"x":62,"y":186,"width":36,"height":8}},{"id":"0599f9b4-1867-4707-bb9a-d407329038a7","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":141,"box":{"x":62,"y":225,"width":860,"height":11}},{"id":"d47706c4-8fee-40c7-8054-1ca3d18fb676","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":141,"box":{"x":62,"y":238,"width":860,"height":12}},{"id":"d019293f-204e-43a6-90e3-c0a79b4e8716","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":141,"box":{"x":62,"y":252,"width":861,"height":11}},{"id":"8303b26b-04f8-4901-8aaf-b2a5360672d2","block_type":"box","text":"is zero.","page_number":141,"box":{"x":62,"y":266,"width":52,"height":8}},{"id":"b7b4e81b-5797-4923-b8d3-df39d30d7c21","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":141,"box":{"x":62,"y":324,"width":249,"height":9}},{"id":"b80aca5d-9094-411f-bc5e-f2aba8ca1000","block_type":"box","text":"Leverage","page_number":141,"box":{"x":63,"y":364,"width":72,"height":11}},{"id":"ba410dfe-c912-48d2-9bca-80b496e9819e","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":141,"box":{"x":63,"y":383,"width":860,"height":11}},{"id":"692d0a6b-6ad9-4479-bf13-d2b5af9e9502","block_type":"box","text":"management.","page_number":141,"box":{"x":62,"y":398,"width":101,"height":10}},{"id":"8ffcae69-675a-4038-95ea-e3f92e6755ca","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":141,"box":{"x":62,"y":430,"width":860,"height":11}},{"id":"b229b751-79f7-43d2-ae45-ac171d176aa6","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":141,"box":{"x":62,"y":444,"width":649,"height":11}},{"id":"dde86f23-6e70-4747-844f-4c1ea39ef51e","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":141,"box":{"x":62,"y":471,"width":755,"height":11}},{"id":"30c8a7a8-7b84-4914-b1aa-fc8bb149c657","block_type":"box","text":"Permitted derivatives","page_number":141,"box":{"x":72,"y":501,"width":168,"height":9}},{"id":"985b3731-582a-42a1-982e-2d7df6873040","block_type":"box","text":"Permitted?","page_number":141,"box":{"x":383,"y":501,"width":85,"height":9}},{"id":"96f11366-e265-4a10-887f-df051fd389cd","block_type":"box","text":"Prohibited?","page_number":141,"box":{"x":489,"y":501,"width":91,"height":9}},{"id":"9fca3e21-8f9f-4557-bf0c-b1a9fe0d1153","block_type":"box","text":"Equity index futures","page_number":141,"box":{"x":72,"y":522,"width":146,"height":11}},{"id":"fe26f95e-56b1-47d4-b9e9-cc4711c4aac1","block_type":"box","text":"√","page_number":141,"box":{"x":530,"y":522,"width":8,"height":8}},{"id":"81bacf40-5d7c-4430-92eb-978ef3005950","block_type":"box","text":"Government bond futures","page_number":141,"box":{"x":72,"y":540,"width":188,"height":9}},{"id":"224afbd2-10e5-4615-997d-74b4b9390803","block_type":"box","text":"√","page_number":141,"box":{"x":421,"y":540,"width":8,"height":8}},{"id":"4e8a9548-1ca2-4f31-90ee-88904f0c712f","block_type":"box","text":"Equity index options","page_number":141,"box":{"x":72,"y":559,"width":148,"height":11}},{"id":"e0737078-a08e-454b-96f1-91d8cb1470b7","block_type":"box","text":"√","page_number":141,"box":{"x":530,"y":559,"width":8,"height":7}},{"id":"32b8d9c4-1fa4-4454-9d35-cb8650e80335","block_type":"box","text":"Forward foreign exchange","page_number":141,"box":{"x":72,"y":577,"width":193,"height":11}},{"id":"69ebd0fb-3ecc-48ff-8be5-88f6e6c0350e","block_type":"box","text":"√","page_number":141,"box":{"x":421,"y":577,"width":8,"height":8}},{"id":"6619a239-abb6-4458-ba06-45882564431c","block_type":"box","text":"Index credit default swaps","page_number":141,"box":{"x":72,"y":595,"width":192,"height":11}},{"id":"1e224e7b-8611-4790-82c1-b4b744bddc38","block_type":"box","text":"√","page_number":141,"box":{"x":530,"y":596,"width":8,"height":7}},{"id":"837c929c-beb5-4f0b-960c-189799df8946","block_type":"box","text":"Interest rate swaps","page_number":141,"box":{"x":72,"y":614,"width":140,"height":11}},{"id":"c12a6f3f-ab68-46b3-8441-fbd672b34b8e","block_type":"box","text":"√","page_number":141,"box":{"x":421,"y":614,"width":8,"height":8}},{"id":"76a13ee5-7be9-4232-81ca-abf96e5bd4f0","block_type":"box","text":"OTC equity options","page_number":141,"box":{"x":72,"y":632,"width":142,"height":11}},{"id":"7c284e2c-1f55-4fbe-83ce-47954bfb4188","block_type":"box","text":"√","page_number":141,"box":{"x":530,"y":632,"width":8,"height":8}},{"id":"bc9f2e9e-f54b-4fec-9b50-5550291e4b4f","block_type":"box","text":"Inflation swaps","page_number":141,"box":{"x":72,"y":650,"width":109,"height":12}},{"id":"ac834b83-c5f5-479d-b8c9-39123d970e8b","block_type":"box","text":"√","page_number":141,"box":{"x":421,"y":651,"width":8,"height":8}},{"id":"d8da7c17-d454-4eea-8a20-2e45ef296dc4","block_type":"box","text":"Cross currency swaps","page_number":141,"box":{"x":72,"y":669,"width":163,"height":11}},{"id":"11ef0556-8600-4218-b7ba-fea36af10b62","block_type":"box","text":"√","page_number":141,"box":{"x":421,"y":669,"width":8,"height":8}},{"id":"dfd8265d-777d-40ca-a1db-a0cc7401d514","block_type":"box","text":"Other","page_number":141,"box":{"x":72,"y":687,"width":41,"height":9}},{"id":"5b0a1154-8af0-4ed4-943e-540d50f712bb","block_type":"box","text":"√","page_number":141,"box":{"x":530,"y":688,"width":8,"height":7}},{"id":"6dd5dc06-3834-4ae2-ae84-204642ef8b7f","block_type":"box","text":"Leverage Limits","page_number":141,"box":{"x":63,"y":729,"width":128,"height":11}},{"id":"2797dcd6-a5e5-44b6-9775-98022bb15727","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":141,"box":{"x":200,"y":729,"width":722,"height":11}},{"id":"7371d004-aa70-4c87-afa2-3c531eb7d02c","block_type":"box","text":"Regime):","page_number":141,"box":{"x":63,"y":742,"width":65,"height":12}},{"id":"49f0e27c-84fc-4a01-8866-394103abe7f3","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":141,"box":{"x":62,"y":770,"width":471,"height":11}},{"id":"cb64525b-952a-4dd7-8c3e-3d639611ae65","block_type":"box","text":"","page_number":141,"box":{"x":62,"y":801,"width":6,"height":4}},{"id":"10fe58d0-1cb9-4a22-9bbf-9b30f1496060","block_type":"box","text":"Gross Method: Up to 1.15:1","page_number":141,"box":{"x":92,"y":798,"width":203,"height":11}},{"id":"e1cd9197-b7cb-408b-8064-831a53fde491","block_type":"box","text":"","page_number":141,"box":{"x":62,"y":818,"width":6,"height":4}},{"id":"ce65fe5a-31b0-4d97-a40c-32cd226b76ca","block_type":"box","text":"Commitment: Up to 1.1:1","page_number":141,"box":{"x":92,"y":814,"width":183,"height":12}},{"id":"7effaa3c-857c-4fe4-b90b-6eef276a19bb","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":141,"box":{"x":62,"y":856,"width":860,"height":11}},{"id":"dbbf1ddf-859b-47ea-9711-69ebed6b1d41","block_type":"box","text":"which case leverage will not exceed the following:","page_number":141,"box":{"x":62,"y":869,"width":368,"height":12}},{"id":"95ef3830-f599-4b48-ad96-30f80217a91d","block_type":"box","text":"","page_number":141,"box":{"x":62,"y":901,"width":6,"height":4}},{"id":"c35920bb-bb23-4575-9849-9e28eade0547","block_type":"box","text":"Gross Method: Up to 1.35:1","page_number":141,"box":{"x":92,"y":897,"width":203,"height":12}},{"id":"7c2a9ad6-3e54-48b9-a425-e203137a9409","block_type":"box","text":"","page_number":141,"box":{"x":62,"y":917,"width":6,"height":4}},{"id":"71f1ca7d-c7dd-4cf3-8866-c42566910aa5","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":141,"box":{"x":92,"y":914,"width":183,"height":11}},{"id":"b7372c82-7cbf-4f2e-9041-ab1f25d7506c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":142,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"1a5a1d2b-8baa-4681-9362-d199d0607bf3","block_type":"box","text":"142","page_number":142,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"f9e78c9a-4747-4e59-bd43-78c05fe13334","block_type":"box","text":"Aviva Investors: Confidential","page_number":142,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"7bf485b2-9ab6-40c2-8fab-8be1a1b3fce2","block_type":"box","text":"Specific Risks","page_number":142,"box":{"x":62,"y":53,"width":113,"height":11}},{"id":"f69c89d4-d97a-44e9-9113-b7689ca4a823","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":142,"box":{"x":181,"y":53,"width":462,"height":11}},{"id":"e90e87e8-1c10-45ef-a270-a28f670191a8","block_type":"box","text":"","page_number":142,"box":{"x":62,"y":76,"width":6,"height":4}},{"id":"292a97c3-e132-4b4a-b7dc-491606b0fabb","block_type":"box","text":"Fixed Interest","page_number":142,"box":{"x":93,"y":73,"width":100,"height":9}},{"id":"5f100332-bbe1-4771-bbe7-8ae6eafc246b","block_type":"box","text":"","page_number":142,"box":{"x":62,"y":91,"width":6,"height":4}},{"id":"ac02c4a2-702e-45b0-a949-b8e67395d5d8","block_type":"box","text":"Index-Linked","page_number":142,"box":{"x":93,"y":88,"width":93,"height":8}},{"id":"dd0ff528-e7bb-4b28-a546-58d9c3143d6c","block_type":"box","text":"","page_number":142,"box":{"x":62,"y":105,"width":6,"height":4}},{"id":"b85b707f-19d3-43c5-938d-b00600291265","block_type":"box","text":"Single Market","page_number":142,"box":{"x":92,"y":102,"width":102,"height":11}},{"id":"df932365-2119-4b6d-be32-ebb97a0211b1","block_type":"box","text":"Past Performance – AI Index Linked Gilt Fund","page_number":142,"box":{"x":72,"y":148,"width":362,"height":8}},{"id":"48759ee4-5afc-430e-8028-0b7ab49b41d0","block_type":"box","text":"% Growth","page_number":142,"box":{"x":71,"y":167,"width":77,"height":9}},{"id":"d79cd5c8-f87a-4ca0-90df-5bfbd6256469","block_type":"box","text":"1/1/2024 to","page_number":142,"box":{"x":290,"y":193,"width":94,"height":8}},{"id":"0e9a0ff9-3f51-428a-812f-d23870f06874","block_type":"box","text":"31/12/2024","page_number":142,"box":{"x":289,"y":205,"width":75,"height":8}},{"id":"ddc87602-f86c-4a97-9ea1-3002f52044c0","block_type":"box","text":"1/1/2023 to","page_number":142,"box":{"x":404,"y":193,"width":94,"height":8}},{"id":"fc52dc34-8477-4ece-9e4e-51a4ba437d48","block_type":"box","text":"31/12/2023","page_number":142,"box":{"x":403,"y":205,"width":75,"height":8}},{"id":"2b36bf4f-fb4e-4f9f-8f8d-7ece90546d1a","block_type":"box","text":"1/1/2022 to","page_number":142,"box":{"x":517,"y":193,"width":94,"height":8}},{"id":"dc80fcce-8799-4788-833d-d4dbb17a3bef","block_type":"box","text":"31/12/2022","page_number":142,"box":{"x":516,"y":205,"width":75,"height":8}},{"id":"9da4701e-988d-4ef4-8ed0-6702a0cb16d4","block_type":"box","text":"1/1/2021 to","page_number":142,"box":{"x":631,"y":193,"width":94,"height":8}},{"id":"2dc8201c-9060-43ca-988f-4fed95702133","block_type":"box","text":"31/12/2021","page_number":142,"box":{"x":630,"y":205,"width":73,"height":8}},{"id":"7ed262e0-9343-42ea-a6c9-ba6695e98667","block_type":"box","text":"1/1/2020 to","page_number":142,"box":{"x":744,"y":193,"width":94,"height":8}},{"id":"ee66563a-2dd6-4dd8-a8a7-4640013e5213","block_type":"box","text":"31/12/2020","page_number":142,"box":{"x":743,"y":205,"width":75,"height":8}},{"id":"a6fcbbc2-46df-4c71-af93-9de22a72a014","block_type":"box","text":"UK Corporate Income","page_number":142,"box":{"x":72,"y":230,"width":198,"height":10}},{"id":"9301780c-f0c8-4326-9a5d-499645e2e926","block_type":"box","text":"Distribution Units (%)","page_number":142,"box":{"x":72,"y":242,"width":140,"height":10}},{"id":"a85fcb9a-8d47-4015-960e-efff7d9d8b69","block_type":"box","text":"Insured Pension Income","page_number":142,"box":{"x":72,"y":267,"width":198,"height":8}},{"id":"e2d0336c-2d7d-4be0-b0d7-7739cedfc871","block_type":"box","text":"Distribution Units (%)","page_number":142,"box":{"x":72,"y":279,"width":140,"height":10}},{"id":"c29ea173-9e9b-4c0f-bb50-2d50d33951cc","block_type":"box","text":"UK Institutional Accumulation","page_number":142,"box":{"x":72,"y":304,"width":198,"height":8}},{"id":"0b788fcc-c8cf-4a4b-a9f5-d42ccc2d5bf3","block_type":"box","text":"Units (%)","page_number":142,"box":{"x":72,"y":316,"width":60,"height":10}},{"id":"5c65ec26-1496-4f8e-b561-09607d5329ad","block_type":"box","text":"-8.19","page_number":142,"box":{"x":290,"y":304,"width":33,"height":8}},{"id":"3b31c940-a9ee-4f5e-9d67-8a7d4a40a236","block_type":"box","text":"1.36","page_number":142,"box":{"x":404,"y":304,"width":28,"height":8}},{"id":"6629c9c5-143a-4656-99b0-f81671c8c87f","block_type":"box","text":"-33.47","page_number":142,"box":{"x":517,"y":304,"width":42,"height":8}},{"id":"09589c3e-2b76-4953-ba1f-e9bfa6f3feff","block_type":"box","text":"4.3","page_number":142,"box":{"x":630,"y":304,"width":20,"height":8}},{"id":"90867121-5fe0-445e-b687-661fe51b1630","block_type":"box","text":"10.8","page_number":142,"box":{"x":744,"y":304,"width":28,"height":8}},{"id":"3450e203-2b8b-44a7-a65f-81051224b2f0","block_type":"box","text":"ACS (Fund of Fund)","page_number":142,"box":{"x":71,"y":347,"width":199,"height":10}},{"id":"2a415486-a1de-41a7-8e11-607c1174de9c","block_type":"box","text":"Accumulation Units Class 1","page_number":142,"box":{"x":71,"y":359,"width":197,"height":8}},{"id":"629a417e-8f0a-46e4-b163-e53ef4056ff9","block_type":"box","text":"(%)","page_number":142,"box":{"x":72,"y":372,"width":21,"height":10}},{"id":"765b4f7c-e5ac-4bbd-b94f-75d72a6e3e8c","block_type":"box","text":"ACS (Fund of Fund)","page_number":142,"box":{"x":71,"y":396,"width":199,"height":10}},{"id":"a3d4b6a1-bf37-4115-969d-32b979672cff","block_type":"box","text":"Accumulation Units Class 2","page_number":142,"box":{"x":71,"y":409,"width":199,"height":8}},{"id":"1c12b258-71da-439f-b9d1-7ccdecdf84b6","block_type":"box","text":"(%)","page_number":142,"box":{"x":72,"y":421,"width":21,"height":10}},{"id":"089c7a10-54f5-4ca9-ae1f-efb37ca01ff2","block_type":"box","text":"UK Corporate Accumulation","page_number":142,"box":{"x":72,"y":446,"width":198,"height":10}},{"id":"d8d5ddd5-2731-48f2-8bf2-978411a69865","block_type":"box","text":"Units (%)","page_number":142,"box":{"x":72,"y":458,"width":60,"height":10}},{"id":"fd78e381-291d-47ec-90b1-96b7a000a938","block_type":"box","text":"-8.05","page_number":142,"box":{"x":290,"y":446,"width":33,"height":8}},{"id":"b610603a-f6e8-42b9-ba03-97a4c77bd502","block_type":"box","text":"1.35","page_number":142,"box":{"x":404,"y":446,"width":27,"height":8}},{"id":"4e0a0779-529f-4f7a-8067-7031cb5ccf8b","block_type":"box","text":"-33.47","page_number":142,"box":{"x":517,"y":446,"width":42,"height":8}},{"id":"5e2625f8-1aeb-4051-a780-7f28215d2526","block_type":"box","text":"4.1","page_number":142,"box":{"x":630,"y":446,"width":18,"height":8}},{"id":"118f5e9e-e200-4ff6-bc4b-61cbd2bc356b","block_type":"box","text":"N/A","page_number":142,"box":{"x":744,"y":446,"width":24,"height":8}},{"id":"6704498c-5cbd-4538-bce3-427976631d4f","block_type":"box","text":"Insured Pension","page_number":142,"box":{"x":72,"y":489,"width":198,"height":8}},{"id":"065bf0bc-4b6d-4bf6-9395-2cda38315a01","block_type":"box","text":"Accumulation Units (%)","page_number":142,"box":{"x":71,"y":501,"width":156,"height":10}},{"id":"f199080c-5b12-4083-967b-28337a67e976","block_type":"box","text":"-8.03","page_number":142,"box":{"x":290,"y":489,"width":33,"height":8}},{"id":"fa394b48-4579-4000-866e-67654d6140be","block_type":"box","text":"1.35","page_number":142,"box":{"x":404,"y":489,"width":27,"height":8}},{"id":"f965d9f1-f8df-44b4-ab45-dd1f1b33c6e6","block_type":"box","text":"-33.47","page_number":142,"box":{"x":517,"y":489,"width":42,"height":8}},{"id":"ef864a15-31e1-4860-9c9b-c7d3cc66885c","block_type":"box","text":"4.1","page_number":142,"box":{"x":630,"y":489,"width":18,"height":8}},{"id":"e0646d97-5389-472e-a8da-0921454217f2","block_type":"box","text":"N/A","page_number":142,"box":{"x":744,"y":489,"width":24,"height":8}},{"id":"4089f268-8c41-4c03-9d8e-e300b3fb4857","block_type":"box","text":"UK Fund of Fund","page_number":142,"box":{"x":72,"y":532,"width":198,"height":8}},{"id":"7a7c3ce2-3986-40de-9be1-e299d1abcdcd","block_type":"box","text":"Accumulation Units (%)","page_number":142,"box":{"x":71,"y":544,"width":156,"height":10}},{"id":"e478cd39-ba78-4e2e-b937-4d5e7441d4cd","block_type":"box","text":"Index - FTSE® UK Index","page_number":142,"box":{"x":72,"y":572,"width":199,"height":8}},{"id":"0b4143b2-e42d-42a7-968f-398707fffbfa","block_type":"box","text":"Linked Gilts All Stocks Index","page_number":142,"box":{"x":72,"y":584,"width":200,"height":8}},{"id":"22de9e9f-b339-4d77-ba1b-9ec6299213c3","block_type":"box","text":"Total Return","page_number":142,"box":{"x":73,"y":597,"width":82,"height":7}},{"id":"f23259ae-6e76-4e43-8096-0a84cca66e02","block_type":"box","text":"-8.32","page_number":142,"box":{"x":290,"y":572,"width":34,"height":8}},{"id":"10aa06e9-0703-47ae-bcba-c3d081acfa58","block_type":"box","text":"0.93","page_number":142,"box":{"x":404,"y":572,"width":29,"height":8}},{"id":"f0b3f1c6-fe90-4b44-b188-aff9ee7f28cb","block_type":"box","text":"-33.60","page_number":142,"box":{"x":517,"y":572,"width":43,"height":8}},{"id":"21c8c9f0-2838-416c-9ba7-84e0ec01d801","block_type":"box","text":"4.2","page_number":142,"box":{"x":630,"y":572,"width":21,"height":8}},{"id":"3fc4c77c-9b41-4279-a070-a1eaf3721449","block_type":"box","text":"11.1","page_number":142,"box":{"x":746,"y":572,"width":26,"height":8}},{"id":"cc69771d-a086-478e-9b96-51b5eef82e13","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":143,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"27f42049-0325-4cd0-9cbc-c7ad8bc3d000","block_type":"box","text":"143","page_number":143,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"32294d5f-21e7-4b45-8721-17726b7d53cc","block_type":"box","text":"Aviva Investors: Confidential","page_number":143,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"269f3341-6b44-4b43-8f89-558a0c251daa","block_type":"box","text":"AI Sterling Gilt Fund","page_number":143,"box":{"x":62,"y":53,"width":161,"height":11}},{"id":"bd98547d-d519-421f-8932-5f68499abba2","block_type":"box","text":"FCA product reference number: 658319","page_number":143,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"8ad44dea-d4e5-4e16-8b93-68691958150e","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":143,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"7a327606-672c-4a51-b1cc-b8464fb7b3eb","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":143,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"7ef1023d-77d2-4d11-b6ad-314ce387dbd6","block_type":"box","text":"Investment Objective and Policy","page_number":143,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"2d1b45a1-6037-49f9-8df7-d6468e7f10d1","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) through a combination of income","page_number":143,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"ca39dca9-4b88-4603-8c2a-3358150cbcc2","block_type":"box","text":"and capital returns, by investing in bonds issued or guaranteed by governments.","page_number":143,"box":{"x":62,"y":198,"width":593,"height":11}},{"id":"aad76919-8890-4f9f-b4a9-6fe826aafffd","block_type":"box","text":"Core investment:","page_number":143,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"77ec6d58-f2c2-4162-9e95-17ff4b3f3c8e","block_type":"box","text":"At least 95% of the Sub-Fund will be invested in bonds which are issued or guaranteed by the UK Government (known","page_number":143,"box":{"x":62,"y":236,"width":860,"height":12}},{"id":"3c24eafb-07e2-4c30-8eba-9389caeb5648","block_type":"box","text":"as gilts), or issued or guaranteed by other governments, with a rating the same as or higher than that of the UK.","page_number":143,"box":{"x":62,"y":250,"width":826,"height":11}},{"id":"54d5c018-9d17-40d0-8167-544dd3fe9f0e","block_type":"box","text":"At least 80% of this investment must be bonds issued by the UK Government.","page_number":143,"box":{"x":62,"y":270,"width":576,"height":11}},{"id":"ca65782a-a2b0-4e89-8e7e-4c6f5d147850","block_type":"box","text":"All bonds must be denominated in, or hedged back to, Sterling.","page_number":143,"box":{"x":62,"y":289,"width":466,"height":12}},{"id":"220baf02-905d-4967-b3a8-940272775cf6","block_type":"box","text":"Other investments:","page_number":143,"box":{"x":62,"y":309,"width":151,"height":9}},{"id":"882e0265-5988-41ae-9eab-d30e29af70d8","block_type":"box","text":"The Sub-Fund may also invest in other investment grade bonds, other funds (including funds managed by Aviva","page_number":143,"box":{"x":62,"y":329,"width":861,"height":11}},{"id":"f157b400-6e10-4c4c-9f0e-07abd82d620a","block_type":"box","text":"Investors companies), derivatives, cash and deposits.","page_number":143,"box":{"x":63,"y":342,"width":395,"height":11}},{"id":"fc04c03d-9580-4eaa-a089-7cd906611eb8","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":143,"box":{"x":63,"y":362,"width":860,"height":11}},{"id":"a69db08a-d92f-41e9-ac5f-07b8bfeaf243","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":143,"box":{"x":62,"y":375,"width":861,"height":12}},{"id":"d3b35374-743d-4591-92b6-bffbee49b419","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":143,"box":{"x":62,"y":389,"width":545,"height":11}},{"id":"84bce35f-6ae7-4cbd-83f5-e64c43155960","block_type":"box","text":"Strategy:","page_number":143,"box":{"x":62,"y":409,"width":70,"height":11}},{"id":"9b84b5b4-a581-469d-ae9a-311e7bdaf0f6","block_type":"box","text":"The Sub-Fund is actively managed, and whilst this focus will be on investing in UK Government bonds, the Investment","page_number":143,"box":{"x":62,"y":428,"width":861,"height":12}},{"id":"f93215fa-c9ac-4b0d-b424-da5fbac63ea5","block_type":"box","text":"Manager will select appropriate investments from a range of global government bond markets with a view to delivering","page_number":143,"box":{"x":63,"y":442,"width":859,"height":11}},{"id":"c8b1f54e-52d9-4149-a6ce-f3ef3ef32fc8","block_type":"box","text":"optimum risk adjusted-returns. The Investment Manager will focus on identifying investments through assessment of","page_number":143,"box":{"x":62,"y":456,"width":861,"height":11}},{"id":"adb7ebed-bc06-495c-a46a-8379763ffdaf","block_type":"box","text":"the economic and political stability of individual countries, the valuation of the bonds relative to the market, the views","page_number":143,"box":{"x":62,"y":469,"width":861,"height":11}},{"id":"5d06f69d-089a-4e4e-8f1b-fdb151cf3718","block_type":"box","text":"of independent risk rating agencies, and any other relevant factors, whilst also taking advantage of short-term","page_number":143,"box":{"x":62,"y":483,"width":860,"height":11}},{"id":"6c8867b9-f44f-46e8-857d-e5b7f2cb0cf0","block_type":"box","text":"opportunities when they arise.","page_number":143,"box":{"x":62,"y":497,"width":221,"height":11}},{"id":"713e2bcb-be14-4f6e-be4f-1534a6ffe7c1","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":143,"box":{"x":62,"y":516,"width":527,"height":11}},{"id":"34a84ac8-3d22-4111-9924-05ee81c7fae3","block_type":"box","text":"please see Appendix 2 for information on","page_number":143,"box":{"x":594,"y":516,"width":328,"height":11}},{"id":"0510e70c-2e1c-45d3-bc61-25dbbb3336bc","block_type":"box","text":"these limited investment restrictions.","page_number":143,"box":{"x":62,"y":530,"width":295,"height":9}},{"id":"2f5494c4-0fbd-4021-bd46-42030f43d4ba","block_type":"box","text":"Performance & Risk Measurement:","page_number":143,"box":{"x":63,"y":550,"width":275,"height":8}},{"id":"f6a8ee7a-45eb-4874-b1ab-cddaaf830dc6","block_type":"box","text":"The Sub-Fund's performance is compared against the FTSE® UK Gilts All Stocks Index Total Return (the “Index”)","page_number":143,"box":{"x":62,"y":569,"width":843,"height":11}},{"id":"333bc9d1-3883-4a3f-8514-22dc7fd952e0","block_type":"box","text":"□","page_number":143,"box":{"x":907,"y":571,"width":5,"height":3}},{"id":"d9b2134b-f6d0-4813-a181-dc3db5ca01a4","block_type":"box","text":".","page_number":143,"box":{"x":914,"y":576,"width":2,"height":2}},{"id":"040ae6a4-0167-4c9e-b329-bc591fcf90d0","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, which is only a representation of the investment","page_number":143,"box":{"x":62,"y":589,"width":861,"height":11}},{"id":"9ea93bfe-7cd3-4495-9f98-1b8bdb79aedd","block_type":"box","text":"universe, therefore the Sub-Fund will hold bonds that are not part of the Index.","page_number":143,"box":{"x":63,"y":602,"width":579,"height":11}},{"id":"fd34b080-f1c0-4d36-80f4-0fb25b221a06","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":143,"box":{"x":62,"y":622,"width":861,"height":11}},{"id":"eb2f8b31-0d14-45bc-ac14-52d1759da087","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":143,"box":{"x":63,"y":636,"width":859,"height":11}},{"id":"939fcffe-5ae6-47ab-93b8-53c1f52fa3cc","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 0% and 2% when","page_number":143,"box":{"x":62,"y":649,"width":860,"height":12}},{"id":"aafc0d7d-de15-4a91-86af-c07d01b329cb","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":143,"box":{"x":62,"y":663,"width":650,"height":11}},{"id":"c47acc21-d81a-45ed-927b-6e7c0481b9f8","block_type":"box","text":"The Index represents the performance of a range of UK gilts and includes UK gilts listed on the London Stock","page_number":143,"box":{"x":62,"y":682,"width":861,"height":12}},{"id":"4cc3b1c6-a5e4-4d16-8bbc-174a60cccbb6","block_type":"box","text":"Exchange.","page_number":143,"box":{"x":63,"y":696,"width":76,"height":11}},{"id":"202e3c1b-e795-42f4-9e82-1adfd8aa1cf2","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":143,"box":{"x":62,"y":716,"width":861,"height":11}},{"id":"add9e70e-41e7-419d-96b2-c607f74463c5","block_type":"box","text":"the type of bonds in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the Sub","page_number":143,"box":{"x":62,"y":729,"width":860,"height":12}},{"id":"530f9a04-0511-4666-9fef-48645eab228d","block_type":"box","text":"Fund’s performance.","page_number":143,"box":{"x":63,"y":743,"width":151,"height":11}},{"id":"9e98febb-2bca-4e90-859b-11a978511fd3","block_type":"box","text":"Additional Information","page_number":143,"box":{"x":62,"y":763,"width":177,"height":9}},{"id":"acb96555-56fa-4af0-98a9-a28b2f8e8c3c","block_type":"box","text":"Investment Manager","page_number":143,"box":{"x":118,"y":789,"width":151,"height":11}},{"id":"5ab635a5-7984-4852-adbf-4a49948ef2d9","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":143,"box":{"x":352,"y":789,"width":294,"height":9}},{"id":"6537c405-db7e-42f0-9741-a10ab951fda5","block_type":"box","text":"Type of Units","page_number":143,"box":{"x":116,"y":815,"width":98,"height":11}},{"id":"e931490d-f6d4-4434-843e-df6626b99a89","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":143,"box":{"x":353,"y":815,"width":292,"height":11}},{"id":"79cbda91-605b-49e6-a983-1529bc2c1e08","block_type":"box","text":"UK Corporate Accumulation Units","page_number":143,"box":{"x":353,"y":841,"width":250,"height":11}},{"id":"77f10175-ec66-490b-90ea-c2b4a67579af","block_type":"box","text":"Insured Pension Accumulation Units","page_number":143,"box":{"x":354,"y":867,"width":267,"height":9}},{"id":"cb8353a6-bbad-44a6-9b9b-80d62176e5ae","block_type":"box","text":"UK Institutional Accumulation Units","page_number":143,"box":{"x":353,"y":894,"width":260,"height":8}},{"id":"91d7310c-cd88-42f6-a101-83dd64ba0f1c","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 1)","page_number":143,"box":{"x":352,"y":919,"width":369,"height":12}},{"id":"5ea31c79-c4ed-45a5-be71-4d62a78619f8","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":144,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"124c1f0f-9278-4d66-a5ef-c3d5b2b72841","block_type":"box","text":"144","page_number":144,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"59927c3c-be7a-4652-a848-4a86ef1fb02f","block_type":"box","text":"Aviva Investors: Confidential","page_number":144,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"f4b531c9-c636-4ee1-a12f-2891caf2435d","block_type":"box","text":"ACS (Fund of Fund) Accumulation Units (Class 2)","page_number":144,"box":{"x":352,"y":59,"width":369,"height":11}},{"id":"b361cab1-8a9a-45ff-bf9e-e2814d367f49","block_type":"box","text":"Dealing Day","page_number":144,"box":{"x":118,"y":105,"width":89,"height":11}},{"id":"63374218-e3d2-4258-95ee-1b9ba6115792","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":144,"box":{"x":353,"y":85,"width":275,"height":9}},{"id":"0cab674f-459e-4ed4-9153-b4b23a7656c3","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":144,"box":{"x":354,"y":105,"width":393,"height":11}},{"id":"69c4659f-77fd-4f16-be1d-d21b35c69974","block_type":"box","text":"Deal Cut-Off Point","page_number":144,"box":{"x":118,"y":131,"width":134,"height":9}},{"id":"58389fdd-bdcd-492d-97b9-90454a89c682","block_type":"box","text":"2.00 p.m.","page_number":144,"box":{"x":353,"y":131,"width":67,"height":11}},{"id":"242ded86-874d-4fb7-a8db-102278cd0526","block_type":"box","text":"Valuation Point","page_number":144,"box":{"x":117,"y":157,"width":112,"height":9}},{"id":"2848ca67-d206-43ac-b79d-8e62e6ba73b4","block_type":"box","text":"3.00 p.m.","page_number":144,"box":{"x":353,"y":157,"width":67,"height":11}},{"id":"bade2699-f35d-42bf-b5ca-599436e8ba62","block_type":"box","text":"*Minimum Investment","page_number":144,"box":{"x":117,"y":183,"width":172,"height":9}},{"id":"aaaf4bfb-b90b-4446-af37-051a4e92b92b","block_type":"box","text":"UK Corporate Income","page_number":144,"box":{"x":118,"y":209,"width":215,"height":11}},{"id":"b2a47da8-2812-4c4a-afc4-1d709732f366","block_type":"box","text":"Distribution Units, UK","page_number":144,"box":{"x":118,"y":223,"width":216,"height":10}},{"id":"e1616efa-6749-4cb7-84ab-36a13195c40e","block_type":"box","text":"Corporate Accumulation","page_number":144,"box":{"x":117,"y":236,"width":216,"height":12}},{"id":"ffa1a203-d7aa-4b32-980c-b9c76d55d004","block_type":"box","text":"Units, Insured Pension","page_number":144,"box":{"x":118,"y":250,"width":215,"height":11}},{"id":"3e3296a5-9bec-4ada-a99c-22b2b28fd681","block_type":"box","text":"Accumulation Units, UK","page_number":144,"box":{"x":116,"y":264,"width":218,"height":10}},{"id":"47c7e686-48cc-43f8-8d14-f34b9e1a0041","block_type":"box","text":"Institutional Accumulation","page_number":144,"box":{"x":118,"y":278,"width":215,"height":8}},{"id":"d8bc3fdf-7882-449e-a87a-8ead8022f536","block_type":"box","text":"Units, ACS (Fund of Fund)","page_number":144,"box":{"x":118,"y":291,"width":215,"height":11}},{"id":"0fe38963-14d6-481c-9d94-5accd0045307","block_type":"box","text":"Accumulation Units (Class 1),","page_number":144,"box":{"x":116,"y":305,"width":216,"height":11}},{"id":"88cd319b-fb7f-415f-a301-479dad16a425","block_type":"box","text":"ACS (Fund of Fund)","page_number":144,"box":{"x":116,"y":318,"width":217,"height":12}},{"id":"265c2de4-8250-4432-9058-071d003c2304","block_type":"box","text":"Accumulation Units (Class 2)","page_number":144,"box":{"x":116,"y":332,"width":217,"height":11}},{"id":"9b778654-69a5-4cfd-9699-6816532686dc","block_type":"box","text":"2) UK Fund of Fund","page_number":144,"box":{"x":117,"y":346,"width":216,"height":11}},{"id":"40d70786-6f31-4f3c-ae7d-6ece06634d1d","block_type":"box","text":"Accumulation Units","page_number":144,"box":{"x":116,"y":360,"width":143,"height":8}},{"id":"250dd679-22d6-41a1-9d2c-7be7e6402207","block_type":"box","text":"No minimum","page_number":144,"box":{"x":353,"y":209,"width":92,"height":9}},{"id":"3b36d140-4832-4e08-a8a5-79a207e6d86c","block_type":"box","text":"Minimum withdrawal","page_number":144,"box":{"x":117,"y":405,"width":150,"height":9}},{"id":"5adf6bae-2f09-4fea-bb7d-25fef76719f4","block_type":"box","text":"No minimum","page_number":144,"box":{"x":353,"y":405,"width":92,"height":9}},{"id":"93e0ad17-74a6-4922-a03d-8c8e0fe2923c","block_type":"box","text":"Tax Criteria for investment","page_number":144,"box":{"x":116,"y":431,"width":213,"height":9}},{"id":"54cab61b-aeff-43aa-acb7-6875d393370c","block_type":"box","text":"UK Corporate Income","page_number":144,"box":{"x":118,"y":457,"width":160,"height":11}},{"id":"524f43c4-0665-4ab8-bba8-fad0b7722c2e","block_type":"box","text":"Distribution Units, UK","page_number":144,"box":{"x":118,"y":471,"width":158,"height":11}},{"id":"3a42073d-a8aa-4b5e-b1b0-93f5bb8f829f","block_type":"box","text":"Corporate Accumulation","page_number":144,"box":{"x":117,"y":485,"width":178,"height":11}},{"id":"94c5e4a3-d824-4bee-bf9b-8d30374c7f53","block_type":"box","text":"Units","page_number":144,"box":{"x":118,"y":499,"width":36,"height":8}},{"id":"1e07918a-ffa6-4931-be9a-76267c61bee7","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":144,"box":{"x":352,"y":457,"width":404,"height":11}},{"id":"979e006e-1a94-4cc0-ab3b-d08e30490edd","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":144,"box":{"x":353,"y":471,"width":404,"height":11}},{"id":"2aa8ba48-451d-4ed8-b686-adcbc4f80063","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":144,"box":{"x":352,"y":485,"width":405,"height":11}},{"id":"27d80735-e73e-489c-9ce5-82e1730ec6b8","block_type":"box","text":"linked pension business contracts.","page_number":144,"box":{"x":353,"y":499,"width":253,"height":11}},{"id":"a94b3fa9-9707-421d-b82c-9d21d7a4c706","block_type":"box","text":"Insured Pension","page_number":144,"box":{"x":118,"y":525,"width":118,"height":8}},{"id":"8bf4096e-06e8-4b96-a20c-9e3d6f9493ad","block_type":"box","text":"Accumulation Units","page_number":144,"box":{"x":116,"y":538,"width":143,"height":9}},{"id":"dbbbbe62-05bd-489e-9cc4-bddfef423a40","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":144,"box":{"x":352,"y":524,"width":404,"height":12}},{"id":"e56ed15c-7ee2-4bed-a3e1-6477ac3b7d9e","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":144,"box":{"x":353,"y":538,"width":404,"height":11}},{"id":"3045293c-367a-4460-9ddf-f0f7362971f5","block_type":"box","text":"back exclusively its unit linked pension business","page_number":144,"box":{"x":353,"y":552,"width":404,"height":11}},{"id":"7acb23fa-1a9a-41d6-8944-e723979a9440","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":144,"box":{"x":353,"y":565,"width":404,"height":12}},{"id":"b38987e3-0fc1-4373-8b32-1812d9e515db","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":144,"box":{"x":353,"y":579,"width":307,"height":11}},{"id":"1ebf0b69-1d3c-4284-bcbf-210894dbf6c2","block_type":"box","text":"UK Institutional","page_number":144,"box":{"x":118,"y":605,"width":110,"height":9}},{"id":"153d74b1-57a4-41ea-afb5-caea113104f5","block_type":"box","text":"Accumulation Units","page_number":144,"box":{"x":116,"y":619,"width":143,"height":9}},{"id":"cde50aca-4af1-4575-a85a-ea4eb84f4f90","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":144,"box":{"x":352,"y":605,"width":404,"height":11}},{"id":"0255d08f-39a9-427f-bcb7-c19739322be9","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":144,"box":{"x":353,"y":619,"width":403,"height":11}},{"id":"afd5e629-4b46-4b72-a666-dba6db13eb9a","block_type":"box","text":"tax treaties.","page_number":144,"box":{"x":352,"y":633,"width":85,"height":8}},{"id":"89898a2a-76b6-4aa2-9637-f087a1d59da6","block_type":"box","text":"ACS (Fund of Fund)","page_number":144,"box":{"x":116,"y":664,"width":149,"height":12}},{"id":"8571333f-6f85-4e65-b94b-2cce8daec4cf","block_type":"box","text":"Accumulation Units (Class","page_number":144,"box":{"x":116,"y":678,"width":195,"height":11}},{"id":"ba230d29-1ed5-437b-b6c1-b054fbbee8bf","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":144,"box":{"x":118,"y":692,"width":171,"height":11}},{"id":"4cc0ba3b-90fc-439c-b3fa-c4ab5fabea20","block_type":"box","text":"Accumulation Units (Class 2)","page_number":144,"box":{"x":116,"y":706,"width":215,"height":11}},{"id":"9b66931f-0cb3-4eb8-9fa4-6ed73b38eab0","block_type":"box","text":"A sub-fund of a UK authorised contractual scheme","page_number":144,"box":{"x":352,"y":665,"width":375,"height":9}},{"id":"e75244d7-7ada-474b-b171-48b542ad30b3","block_type":"box","text":"UK Fund of Fund","page_number":144,"box":{"x":118,"y":732,"width":215,"height":9}},{"id":"d09a52fe-9cdb-4450-ba51-74fdf9030e6c","block_type":"box","text":"Accumulation Units","page_number":144,"box":{"x":116,"y":746,"width":143,"height":8}},{"id":"957df1d8-7236-4069-a3d2-9798aaa8697e","block_type":"box","text":"A sub-fund of a UK authorised Open Ended Investment","page_number":144,"box":{"x":352,"y":732,"width":405,"height":11}},{"id":"cf833500-c57c-4985-9654-dc49ff816ef0","block_type":"box","text":"Company which is part of or otherwise managed by the","page_number":144,"box":{"x":353,"y":745,"width":403,"height":12}},{"id":"73fb2770-6f8c-4183-9fa3-84598e013d28","block_type":"box","text":"Aviva Group.","page_number":144,"box":{"x":352,"y":759,"width":96,"height":11}},{"id":"6a45ab93-af2f-4958-b619-fd556369a5ba","block_type":"box","text":"**Current Charges:","page_number":144,"box":{"x":117,"y":791,"width":149,"height":11}},{"id":"f555f8c2-3ddf-411a-b43b-ee49c6ef1cd0","block_type":"box","text":"UK Corporate Income","page_number":144,"box":{"x":118,"y":817,"width":160,"height":11}},{"id":"2a0d229a-61cd-4b40-aeba-2fc87c1a6333","block_type":"box","text":"Distribution Units, UK","page_number":144,"box":{"x":118,"y":831,"width":158,"height":10}},{"id":"3933db13-cbc8-482f-bc2d-7d37634e1f6e","block_type":"box","text":"Corporate Accumulation","page_number":144,"box":{"x":117,"y":844,"width":178,"height":12}},{"id":"2031cdaa-b9f0-45c4-aaa5-cf554c91fa6b","block_type":"box","text":"Units, Insured Pension","page_number":144,"box":{"x":118,"y":858,"width":166,"height":11}},{"id":"40123989-5fbb-41e8-8468-98ff2c8c3a70","block_type":"box","text":"Accumulation Units, UK","page_number":144,"box":{"x":116,"y":872,"width":176,"height":10}},{"id":"ad3fe5a5-3054-4a79-89ce-eda9953e5b64","block_type":"box","text":"Institutional Accumulation","page_number":144,"box":{"x":118,"y":886,"width":187,"height":8}},{"id":"bfbeee35-160e-4a05-844d-95ac43947ee4","block_type":"box","text":"Units, ACS (Fund of Fund)","page_number":144,"box":{"x":118,"y":899,"width":195,"height":11}},{"id":"0e22bcda-9d36-416c-9c69-081e4f822205","block_type":"box","text":"Accumulation Units (Class","page_number":144,"box":{"x":116,"y":913,"width":195,"height":11}},{"id":"8ec41b74-d820-4ce8-9c51-96cafd7e4177","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":144,"box":{"x":352,"y":817,"width":404,"height":11}},{"id":"b5b603a1-e05e-4d3b-a5ec-bc16a974972e","block_type":"box","text":"Unitholder***","page_number":144,"box":{"x":353,"y":831,"width":94,"height":9}},{"id":"c14148ae-3065-44c0-90d3-a57469db143e","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":144,"box":{"x":352,"y":850,"width":404,"height":12}},{"id":"9600ca45-d704-45e2-b4e8-c8aed1e88f3c","block_type":"box","text":"property","page_number":144,"box":{"x":353,"y":865,"width":60,"height":10}},{"id":"46766ba1-c59b-42d2-a840-5262bb93f8d6","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":145,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"01202f17-7ef3-432a-9f72-1bc8d7180e92","block_type":"box","text":"145","page_number":145,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"17a2ff11-65e2-42f9-8807-dbafa69c7590","block_type":"box","text":"Aviva Investors: Confidential","page_number":145,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"b0a26264-3b27-4164-be3b-533b170046a1","block_type":"box","text":"1), ACS (Fund of Fund)","page_number":145,"box":{"x":118,"y":53,"width":171,"height":11}},{"id":"b76cd20a-36d6-4ab0-afbf-9dc2076bada7","block_type":"box","text":"Accumulation Units (Class 2)","page_number":145,"box":{"x":116,"y":67,"width":215,"height":11}},{"id":"514f72d7-f57e-4317-ac6a-3763c0fb1442","block_type":"box","text":"UK Fund of Fund","page_number":145,"box":{"x":118,"y":93,"width":125,"height":9}},{"id":"482f906b-44e3-4db2-814f-2245bc71ad2d","block_type":"box","text":"Accumulation Units","page_number":145,"box":{"x":116,"y":107,"width":143,"height":8}},{"id":"72fdba4c-0ddb-4bcd-a2f3-8c2207bd75a3","block_type":"box","text":"ACS Management Charge: Deducted from the Scheme","page_number":145,"box":{"x":352,"y":93,"width":404,"height":11}},{"id":"fb632aa0-bdfe-4bba-abce-604952bee486","block_type":"box","text":"Property of the FoF Units","page_number":145,"box":{"x":354,"y":107,"width":185,"height":11}},{"id":"2598a7da-687c-4cae-bf8c-ee5a47f13398","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":145,"box":{"x":352,"y":126,"width":404,"height":11}},{"id":"19b82ee1-5200-4ed9-8545-976eeac95fd6","block_type":"box","text":"Property of the FoF Units.","page_number":145,"box":{"x":354,"y":140,"width":189,"height":11}},{"id":"7c8a1a6d-5161-4169-97b9-9fc47c18a472","block_type":"box","text":"Accounting Dates","page_number":145,"box":{"x":117,"y":166,"width":141,"height":11}},{"id":"aec96759-ef83-4694-9386-3cf46b249b6c","block_type":"box","text":"Annual Accounting Date","page_number":145,"box":{"x":116,"y":192,"width":180,"height":11}},{"id":"0be1aaa5-0f40-406f-a2a2-606e7cc2c901","block_type":"box","text":"31 December","page_number":145,"box":{"x":353,"y":192,"width":100,"height":9}},{"id":"d4d80775-5186-495d-9cdd-ab36277051ea","block_type":"box","text":"First Accounting Date","page_number":145,"box":{"x":118,"y":218,"width":158,"height":11}},{"id":"f114ebff-8588-40f6-b7cd-04269065cea3","block_type":"box","text":"31 December 2015","page_number":145,"box":{"x":353,"y":218,"width":141,"height":9}},{"id":"01e6ef35-de7e-4f33-984f-84d8c99e0ace","block_type":"box","text":"Annual Income Allocation","page_number":145,"box":{"x":116,"y":244,"width":188,"height":9}},{"id":"45e902e8-04d2-4dd0-9efc-1b87f94651a3","block_type":"box","text":"Date","page_number":145,"box":{"x":118,"y":258,"width":33,"height":9}},{"id":"f2937e04-4f97-4623-8bc2-67bfe3c7b427","block_type":"box","text":"On or before 28 /29 February","page_number":145,"box":{"x":353,"y":244,"width":217,"height":12}},{"id":"b68e588d-5c97-4073-9b69-e33f5f5ecfde","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":145,"box":{"x":118,"y":284,"width":293,"height":11}},{"id":"60506c66-c07e-4607-a009-3bf8174c914c","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":145,"box":{"x":62,"y":310,"width":861,"height":11}},{"id":"26477842-9cc6-457a-9fc8-209dad68edfb","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":145,"box":{"x":62,"y":324,"width":408,"height":11}},{"id":"cf4d1ef8-97b6-4e9f-87a9-b2aeb45b0d05","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":145,"box":{"x":62,"y":344,"width":642,"height":11}},{"id":"8cd54c1d-32af-4c6b-b04c-168d66772d53","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":145,"box":{"x":62,"y":363,"width":860,"height":11}},{"id":"78617a07-e809-4758-809f-393299bd610a","block_type":"box","text":"this Prospectus.","page_number":145,"box":{"x":62,"y":377,"width":117,"height":11}},{"id":"4eb0db40-e535-4e66-be03-54d386eecec3","block_type":"box","text":"*** In certain circumstances where one Sub-Fund of the Scheme invests in Units of another, the ACS Management","page_number":145,"box":{"x":62,"y":396,"width":861,"height":11}},{"id":"9494f303-71b0-4d6e-9510-eb03ac8f8e9a","block_type":"box","text":"charge will not be charged to the investing Sub-Fund. Further information is provided at paragraph 5.8 of Appendix 6","page_number":145,"box":{"x":62,"y":410,"width":861,"height":11}},{"id":"dcc72e21-a804-4768-a1e2-0bc98f81daa0","block_type":"box","text":"below.","page_number":145,"box":{"x":62,"y":424,"width":46,"height":9}},{"id":"5415675c-2c42-4693-9a7e-0dcef4e0649e","block_type":"box","text":"□","page_number":145,"box":{"x":62,"y":445,"width":5,"height":3}},{"id":"47c36fb7-bdc0-4e75-9468-98b8b9922e9f","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":145,"box":{"x":74,"y":443,"width":342,"height":9}},{"id":"dabbbaa1-d72d-4f8b-9b4f-82d9eff3e0fb","block_type":"box","text":"Securities Financing and other Transactions:","page_number":145,"box":{"x":62,"y":482,"width":358,"height":12}},{"id":"cf024779-0b47-4f06-a41a-6f338bb3ae29","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":145,"box":{"x":62,"y":502,"width":860,"height":11}},{"id":"a2f3eebf-3076-4648-a4cf-41f8e1707ec2","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":145,"box":{"x":62,"y":516,"width":438,"height":11}},{"id":"19bf6176-4467-4a3d-8394-c44d95d97d41","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":145,"box":{"x":62,"y":555,"width":861,"height":11}},{"id":"542c4650-1675-4dcd-88ae-af5b237ad07f","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":145,"box":{"x":62,"y":569,"width":860,"height":11}},{"id":"843fdedb-e90e-4e7b-945f-5e44e40b817f","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":145,"box":{"x":62,"y":582,"width":861,"height":11}},{"id":"287da0b9-412c-4eb1-ac65-a3cc27618a2b","block_type":"box","text":"50%.","page_number":145,"box":{"x":62,"y":596,"width":36,"height":9}},{"id":"badb3f91-1ca5-4574-9e25-cc924ff1b23b","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":145,"box":{"x":62,"y":635,"width":860,"height":11}},{"id":"17d9ff54-de08-4ca1-a4ec-49abc1ab72ef","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":145,"box":{"x":62,"y":649,"width":860,"height":11}},{"id":"f41b377c-2e7d-494c-be65-9a9f7106cb2d","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":145,"box":{"x":62,"y":662,"width":861,"height":12}},{"id":"e8f01786-88a3-4040-b39d-9006a9caeb00","block_type":"box","text":"is zero.","page_number":145,"box":{"x":62,"y":676,"width":52,"height":9}},{"id":"44284804-3c06-4fc4-886e-46bc74426ae3","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":145,"box":{"x":62,"y":735,"width":249,"height":9}},{"id":"1043b2f6-dd79-4d33-a462-06c2e38d3370","block_type":"box","text":"Leverage","page_number":145,"box":{"x":63,"y":774,"width":72,"height":11}},{"id":"ce40a223-6433-4fb5-98b9-28cfb88074fb","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":145,"box":{"x":63,"y":794,"width":860,"height":11}},{"id":"daf90eb2-7775-4fea-97ca-09c1dcc8a1e6","block_type":"box","text":"management.","page_number":145,"box":{"x":62,"y":808,"width":101,"height":10}},{"id":"207a45d0-f411-46ae-8a40-5c115f09cead","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":145,"box":{"x":62,"y":840,"width":860,"height":12}},{"id":"b0b81081-7087-4846-b49e-aa52be94eeba","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":145,"box":{"x":62,"y":854,"width":649,"height":11}},{"id":"bb909bbb-012f-49f1-9a5b-a650f834525f","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":145,"box":{"x":62,"y":881,"width":755,"height":12}},{"id":"7cd3e44c-ec7c-4321-bb09-29881fd4869f","block_type":"box","text":"Permitted derivatives","page_number":145,"box":{"x":72,"y":911,"width":168,"height":9}},{"id":"333f8418-163c-4367-9652-628fdc807ac9","block_type":"box","text":"Permitted?","page_number":145,"box":{"x":383,"y":911,"width":85,"height":9}},{"id":"e728347a-eef6-445d-b907-7e0419cb208d","block_type":"box","text":"Prohibited?","page_number":145,"box":{"x":489,"y":911,"width":91,"height":9}},{"id":"25840e0e-25f1-417b-ab15-00b45af749be","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":146,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"fe6eb63d-9a84-4def-b7aa-10990d134e8e","block_type":"box","text":"146","page_number":146,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"4903f68b-6577-4ee0-9c04-66bd5de4ca5a","block_type":"box","text":"Aviva Investors: Confidential","page_number":146,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d71b37ef-3e7c-48ec-a221-20d638cf0eb9","block_type":"box","text":"Equity index futures","page_number":146,"box":{"x":72,"y":57,"width":146,"height":11}},{"id":"40210fda-0799-471d-bddc-41b93a4477b8","block_type":"box","text":"√","page_number":146,"box":{"x":530,"y":58,"width":8,"height":7}},{"id":"5f2bee06-5bea-404c-abcc-0e23a4f62c2f","block_type":"box","text":"Government bond futures","page_number":146,"box":{"x":72,"y":76,"width":188,"height":9}},{"id":"b93b1b27-8d8c-4bdf-89a3-8cb373bb2f84","block_type":"box","text":"√","page_number":146,"box":{"x":421,"y":76,"width":8,"height":8}},{"id":"c5ea727f-5ef4-43f9-a713-362a52cc44d6","block_type":"box","text":"Equity index options","page_number":146,"box":{"x":72,"y":94,"width":148,"height":11}},{"id":"985cde10-b268-4d72-b46b-c87a7b7ab9fe","block_type":"box","text":"√","page_number":146,"box":{"x":530,"y":94,"width":8,"height":8}},{"id":"aaac8847-863a-4950-86e5-008e999c1958","block_type":"box","text":"Forward foreign exchange","page_number":146,"box":{"x":72,"y":112,"width":193,"height":12}},{"id":"9b127dcf-e869-4d20-9f6d-ec3e6fa65f71","block_type":"box","text":"√","page_number":146,"box":{"x":421,"y":113,"width":8,"height":8}},{"id":"ac5c23b9-ffc4-4353-bf36-ce5f01b617ae","block_type":"box","text":"Index credit default swaps","page_number":146,"box":{"x":72,"y":131,"width":192,"height":11}},{"id":"283ffaf8-5bc7-40e8-81ad-e32fad3b67cf","block_type":"box","text":"√","page_number":146,"box":{"x":530,"y":131,"width":8,"height":8}},{"id":"9e917fad-134c-4751-a54a-c0723f747243","block_type":"box","text":"Interest rate swaps","page_number":146,"box":{"x":72,"y":149,"width":140,"height":11}},{"id":"1ec29aac-762e-4c77-8d09-7316d72c4359","block_type":"box","text":"√","page_number":146,"box":{"x":421,"y":150,"width":8,"height":7}},{"id":"b4d72d46-cc40-4f01-bf7b-a353b265ccaa","block_type":"box","text":"OTC equity options","page_number":146,"box":{"x":72,"y":168,"width":142,"height":11}},{"id":"8069988d-03af-4d85-be8d-f2e09b7ec9c6","block_type":"box","text":"√","page_number":146,"box":{"x":530,"y":168,"width":8,"height":8}},{"id":"9b70e2de-87f2-4946-9d39-b708f25e99fc","block_type":"box","text":"Inflation swaps","page_number":146,"box":{"x":72,"y":186,"width":109,"height":11}},{"id":"e5cabb82-0b2d-41a5-ba08-5a2e340fac1f","block_type":"box","text":"√","page_number":146,"box":{"x":421,"y":187,"width":8,"height":7}},{"id":"9d45b800-bc92-4e42-8b81-5685a5bb0ebe","block_type":"box","text":"Cross currency swaps","page_number":146,"box":{"x":72,"y":204,"width":163,"height":12}},{"id":"f2c77b19-73c5-43a9-a1b1-08efd27141ac","block_type":"box","text":"√","page_number":146,"box":{"x":421,"y":205,"width":8,"height":8}},{"id":"3e3b1c22-a542-4648-9e18-eeb69431336b","block_type":"box","text":"Other","page_number":146,"box":{"x":72,"y":223,"width":41,"height":9}},{"id":"0d758ce4-28e0-4903-8852-ef9819fcddcd","block_type":"box","text":"√","page_number":146,"box":{"x":530,"y":223,"width":8,"height":8}},{"id":"1563a54d-afe0-4112-85b0-f69f18452c59","block_type":"box","text":"Leverage Limits","page_number":146,"box":{"x":63,"y":265,"width":128,"height":11}},{"id":"9909d2e4-66b6-4455-bebe-804ff1f910ab","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":146,"box":{"x":200,"y":264,"width":722,"height":12}},{"id":"859f9e79-1434-4526-abd8-edac34a0591a","block_type":"box","text":"Regime):","page_number":146,"box":{"x":63,"y":278,"width":65,"height":11}},{"id":"9dc86094-0c7b-46ac-b230-5699da89f818","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":146,"box":{"x":62,"y":305,"width":471,"height":12}},{"id":"0d9d4f3a-c7d7-44bb-9ef2-8f5e97a29dc4","block_type":"box","text":"","page_number":146,"box":{"x":62,"y":337,"width":6,"height":4}},{"id":"688f6945-d999-4cfe-8b46-85f559b85bb2","block_type":"box","text":"Gross Method: Up to 1.1:1","page_number":146,"box":{"x":92,"y":334,"width":193,"height":11}},{"id":"891798b0-a732-47f2-a4de-4194c0bb8a87","block_type":"box","text":"","page_number":146,"box":{"x":62,"y":353,"width":6,"height":5}},{"id":"ab08fe8b-25c8-424a-8ea0-930831d06962","block_type":"box","text":"Commitment: Up to 1.1:1","page_number":146,"box":{"x":92,"y":350,"width":183,"height":11}},{"id":"ea41d049-8398-4d63-acd6-693b9129c75d","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":146,"box":{"x":62,"y":378,"width":860,"height":11}},{"id":"f2c1e232-72d8-4165-b1a3-573f57a108a0","block_type":"box","text":"which case leverage will not exceed the following:","page_number":146,"box":{"x":62,"y":391,"width":368,"height":12}},{"id":"e92a00d9-5ae4-4012-945c-5f137735f264","block_type":"box","text":"","page_number":146,"box":{"x":62,"y":423,"width":6,"height":4}},{"id":"3a04bbd4-bf1b-409c-807f-6cf58393375b","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":146,"box":{"x":92,"y":419,"width":193,"height":12}},{"id":"07946a9e-3c3c-4455-9e7a-6ffe6d4cbbfc","block_type":"box","text":"","page_number":146,"box":{"x":62,"y":439,"width":6,"height":4}},{"id":"66df2e23-847b-4a6f-9557-b62243cdaa0b","block_type":"box","text":"Commitment: Up to 1.35:1","page_number":146,"box":{"x":92,"y":436,"width":192,"height":11}},{"id":"03069357-0de1-459b-b7fc-d054be3c3de2","block_type":"box","text":"Specific Risks","page_number":146,"box":{"x":62,"y":464,"width":113,"height":11}},{"id":"04ed7c31-0be9-4aa5-8c3e-b83ff739f85c","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":146,"box":{"x":181,"y":464,"width":462,"height":11}},{"id":"f158854b-c441-445b-8458-95419e308106","block_type":"box","text":"","page_number":146,"box":{"x":62,"y":487,"width":6,"height":4}},{"id":"f448a0dc-b4c9-4418-8675-d16830e422d1","block_type":"box","text":"Fixed Interest","page_number":146,"box":{"x":93,"y":484,"width":100,"height":9}},{"id":"056d2fbd-bae6-4d61-b147-d0e10dd1cd72","block_type":"box","text":"","page_number":146,"box":{"x":62,"y":502,"width":6,"height":4}},{"id":"d24b59fc-c9a8-49f3-bdf5-1214ef4bfc75","block_type":"box","text":"Single Market","page_number":146,"box":{"x":92,"y":498,"width":102,"height":12}},{"id":"d29a338c-bffc-4a90-9970-bab825fdfc61","block_type":"box","text":"Past Performance – AI Sterling Gilt Fund","page_number":146,"box":{"x":72,"y":544,"width":322,"height":11}},{"id":"5e1ab8be-3418-4a7b-a9c0-8dd008c2f7c7","block_type":"box","text":"% Growth","page_number":146,"box":{"x":71,"y":564,"width":77,"height":9}},{"id":"90fa83fe-4c69-479e-b495-f929da69bea2","block_type":"box","text":"1/1/2024 to","page_number":146,"box":{"x":290,"y":589,"width":94,"height":9}},{"id":"7875d657-9e58-441b-9090-82de8efc9de7","block_type":"box","text":"31/12/2024","page_number":146,"box":{"x":289,"y":602,"width":75,"height":8}},{"id":"4794f76b-ccff-44e5-b4ff-7b74ce5abe00","block_type":"box","text":"1/1/2023 to","page_number":146,"box":{"x":404,"y":589,"width":94,"height":9}},{"id":"23c522e1-e7f1-4c82-99f0-a8ff99e8aadf","block_type":"box","text":"31/12/2023","page_number":146,"box":{"x":403,"y":602,"width":75,"height":8}},{"id":"85e13177-b621-4f2c-b2b3-925e8389b500","block_type":"box","text":"1/1/2022 to","page_number":146,"box":{"x":517,"y":589,"width":94,"height":9}},{"id":"12619642-fad1-45ad-834c-1ab44b8ecad5","block_type":"box","text":"31/12/2022","page_number":146,"box":{"x":516,"y":602,"width":75,"height":8}},{"id":"f8990fbe-ad3d-4c28-a57b-65499ccb08dc","block_type":"box","text":"1/1/2021 to","page_number":146,"box":{"x":631,"y":589,"width":94,"height":9}},{"id":"fe70a476-dc0b-4801-8e47-a1d29997998e","block_type":"box","text":"31/12/2021","page_number":146,"box":{"x":630,"y":602,"width":73,"height":8}},{"id":"f33f7fda-7fe2-4918-832d-a97f012520de","block_type":"box","text":"1/1/2020 to","page_number":146,"box":{"x":744,"y":589,"width":94,"height":9}},{"id":"e61fce47-d13c-48be-80b9-d69687d8bede","block_type":"box","text":"31/12/2020","page_number":146,"box":{"x":743,"y":602,"width":75,"height":8}},{"id":"04de6255-6d59-40e6-948e-117ad0a38d55","block_type":"box","text":"UK Corporate Income","page_number":146,"box":{"x":72,"y":627,"width":198,"height":10}},{"id":"2601b8e7-e7b8-4c9c-875f-655053c7190f","block_type":"box","text":"Distribution Units (%)","page_number":146,"box":{"x":72,"y":639,"width":140,"height":10}},{"id":"67c41fb0-fb52-4fa5-8746-369d9ef8774f","block_type":"box","text":"-2.71","page_number":146,"box":{"x":290,"y":627,"width":31,"height":7}},{"id":"5139f46b-a85a-4531-ab53-fbd7b0ed5617","block_type":"box","text":"3.93","page_number":146,"box":{"x":403,"y":627,"width":29,"height":8}},{"id":"1a5571c5-be70-4264-a1d7-e8cac606e083","block_type":"box","text":"-23.45","page_number":146,"box":{"x":517,"y":627,"width":41,"height":8}},{"id":"a6f19a88-2c6b-4474-b03c-dc3eeca68865","block_type":"box","text":"-4.8","page_number":146,"box":{"x":630,"y":627,"width":25,"height":8}},{"id":"b27f42a1-7bfa-4f41-8d0a-cf2834f71d0f","block_type":"box","text":"8.3","page_number":146,"box":{"x":743,"y":627,"width":20,"height":8}},{"id":"6ab0006c-b185-47b2-9c53-edd297f7187a","block_type":"box","text":"Insured Pension Income","page_number":146,"box":{"x":72,"y":670,"width":198,"height":8}},{"id":"4b4b59ae-029f-4c38-8a97-6f5e0192fbde","block_type":"box","text":"Distribution Units (%)","page_number":146,"box":{"x":72,"y":682,"width":140,"height":10}},{"id":"061d289e-04f1-4d11-9765-e9171bd73b76","block_type":"box","text":"UK Institutional Accumulation","page_number":146,"box":{"x":72,"y":707,"width":198,"height":8}},{"id":"a244ae47-efbd-4688-b29b-9639078eb269","block_type":"box","text":"Units (%)","page_number":146,"box":{"x":72,"y":719,"width":60,"height":10}},{"id":"2a8987c6-eb6b-4279-896b-59f36747e286","block_type":"box","text":"-2.84","page_number":146,"box":{"x":290,"y":707,"width":33,"height":8}},{"id":"ff442760-165e-45d6-8c33-dafae9fe83d8","block_type":"box","text":"3.94","page_number":146,"box":{"x":403,"y":707,"width":29,"height":8}},{"id":"dc927c4a-f428-4b0f-99c3-7d224081dc45","block_type":"box","text":"N/A","page_number":146,"box":{"x":517,"y":707,"width":24,"height":8}},{"id":"538b0312-13ea-499d-9340-f6852eb527bb","block_type":"box","text":"-4.8","page_number":146,"box":{"x":630,"y":707,"width":25,"height":8}},{"id":"7acfec98-62b1-4833-8f53-8a82c03ab424","block_type":"box","text":"8.3","page_number":146,"box":{"x":743,"y":707,"width":20,"height":8}},{"id":"9a0456b7-cadd-40e6-aae3-0bf737a8d686","block_type":"box","text":"ACS (Fund of Fund)","page_number":146,"box":{"x":71,"y":750,"width":199,"height":10}},{"id":"addebbbf-5fe3-42f2-9976-4f547b3c9acd","block_type":"box","text":"Accumulation Units Class 1","page_number":146,"box":{"x":71,"y":762,"width":197,"height":8}},{"id":"75301cf9-c5cd-46f1-a1d6-1d40eaa01ffe","block_type":"box","text":"(%)","page_number":146,"box":{"x":72,"y":774,"width":21,"height":10}},{"id":"1547a284-9cb1-42eb-8fb3-6bafbae0aa35","block_type":"box","text":"-2.80","page_number":146,"box":{"x":290,"y":750,"width":33,"height":8}},{"id":"4a7abac0-e85c-4039-b08e-9e86b9673f24","block_type":"box","text":"3.95","page_number":146,"box":{"x":403,"y":750,"width":28,"height":8}},{"id":"a05a7ae0-b791-4799-908c-7ccdf61e625e","block_type":"box","text":"-23.41","page_number":146,"box":{"x":517,"y":750,"width":39,"height":8}},{"id":"769e6dab-5f3e-4da8-9830-89804ae1148c","block_type":"box","text":"-4.9","page_number":146,"box":{"x":630,"y":750,"width":25,"height":8}},{"id":"7784d5cb-395c-4f36-a160-2376aefe04ef","block_type":"box","text":"8.3","page_number":146,"box":{"x":743,"y":750,"width":20,"height":8}},{"id":"b9366508-79d1-4a6b-9509-329f7e6763b1","block_type":"box","text":"ACS (Fund of Fund)","page_number":146,"box":{"x":71,"y":799,"width":199,"height":10}},{"id":"b63f6340-228a-43c6-b683-6e3f844ebc96","block_type":"box","text":"Accumulation Units Class 2","page_number":146,"box":{"x":71,"y":811,"width":199,"height":8}},{"id":"8920dd06-1330-4d38-a425-0f46e6fce81e","block_type":"box","text":"(%)","page_number":146,"box":{"x":72,"y":824,"width":21,"height":10}},{"id":"7124c0cf-888d-444f-b949-de7dcc4dfa2d","block_type":"box","text":"-2.80","page_number":146,"box":{"x":290,"y":799,"width":33,"height":8}},{"id":"231ba71d-6166-4635-a5de-3cd47f99e906","block_type":"box","text":"3.95","page_number":146,"box":{"x":403,"y":799,"width":28,"height":8}},{"id":"7066b6e0-eb43-47ff-9c3d-5d2c1db85ed3","block_type":"box","text":"-23.42","page_number":146,"box":{"x":517,"y":799,"width":41,"height":8}},{"id":"9e56b6f7-3466-45b1-9b40-dbb75959295a","block_type":"box","text":"-4.9","page_number":146,"box":{"x":630,"y":799,"width":25,"height":8}},{"id":"b0d82b49-4601-407d-a711-73a34807f1ab","block_type":"box","text":"8.3","page_number":146,"box":{"x":743,"y":799,"width":20,"height":8}},{"id":"db83b2b6-96f7-4a9d-943e-9d38fa97d7ff","block_type":"box","text":"UK Corporate Accumulation","page_number":146,"box":{"x":72,"y":848,"width":198,"height":10}},{"id":"018a89ad-84d2-4a85-8a60-791a26d8ac3d","block_type":"box","text":"Units (%)","page_number":146,"box":{"x":72,"y":861,"width":60,"height":10}},{"id":"3f225b57-f923-4645-a736-c48d73c34f6a","block_type":"box","text":"-2.80","page_number":146,"box":{"x":290,"y":849,"width":33,"height":7}},{"id":"e97cd077-af43-4b61-9908-ad3d83c62e8b","block_type":"box","text":"3.95","page_number":146,"box":{"x":403,"y":849,"width":28,"height":7}},{"id":"76af4421-5ac8-45c7-a3e1-523930c183cc","block_type":"box","text":"-23.42","page_number":146,"box":{"x":517,"y":849,"width":41,"height":7}},{"id":"bf4c68c6-3994-4080-97e8-ba79037ff1e0","block_type":"box","text":"-4.8","page_number":146,"box":{"x":630,"y":849,"width":25,"height":7}},{"id":"fbd34e27-feef-4dad-901b-2e52a47e4418","block_type":"box","text":"8.3","page_number":146,"box":{"x":743,"y":849,"width":20,"height":7}},{"id":"db1fb080-bfcb-4642-8cdf-a57ad1e39f9f","block_type":"box","text":"Insured Pension","page_number":146,"box":{"x":72,"y":891,"width":198,"height":8}},{"id":"1c111d22-c4b1-4fc6-90d0-d92a76a0e708","block_type":"box","text":"Accumulation Units (%)","page_number":146,"box":{"x":71,"y":904,"width":156,"height":10}},{"id":"047d83c7-09f9-4a86-8598-8a5765845508","block_type":"box","text":"-2.80","page_number":146,"box":{"x":290,"y":892,"width":33,"height":7}},{"id":"66cccbc5-e8ea-442d-b387-514695338ebd","block_type":"box","text":"3.95","page_number":146,"box":{"x":403,"y":892,"width":28,"height":7}},{"id":"54f72ce2-0678-4514-bce5-50374176fb52","block_type":"box","text":"N/A","page_number":146,"box":{"x":517,"y":891,"width":24,"height":8}},{"id":"ded376cc-2a32-4e93-a56c-83064eb1356b","block_type":"box","text":"-4.8","page_number":146,"box":{"x":630,"y":892,"width":25,"height":7}},{"id":"743f18b6-1ca8-443d-9af3-c96b3769ee25","block_type":"box","text":"N/A","page_number":146,"box":{"x":744,"y":891,"width":24,"height":8}},{"id":"81842387-a991-434c-adc5-6efc4b206092","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":147,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"d9daaa21-bd13-4132-a4b8-e9b253a397cb","block_type":"box","text":"147","page_number":147,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"4316e8ba-0a75-4457-8192-b705d404f810","block_type":"box","text":"Aviva Investors: Confidential","page_number":147,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"7fe7d8bd-3b87-4f51-89f3-9de4e2d3e19a","block_type":"box","text":"UK Fund of Fund","page_number":147,"box":{"x":72,"y":59,"width":198,"height":8}},{"id":"29e26d88-c62c-43d4-a674-aeb5588dbc6d","block_type":"box","text":"Accumulation Units (%)","page_number":147,"box":{"x":71,"y":71,"width":156,"height":10}},{"id":"b8506fb4-4b06-47e2-bc69-a415f490b4a0","block_type":"box","text":"Index - FTSE® UK Gilts All","page_number":147,"box":{"x":72,"y":99,"width":200,"height":8}},{"id":"b0ab00f6-e839-49ba-b1d4-b0180a87a2f5","block_type":"box","text":"Sticks Index Total Return","page_number":147,"box":{"x":72,"y":111,"width":168,"height":8}},{"id":"b7a573d2-92a7-42e1-bc75-9ab8dca43165","block_type":"box","text":"-3.32","page_number":147,"box":{"x":290,"y":99,"width":34,"height":8}},{"id":"4f70929e-8fe6-48f8-a3ab-9c61f7a2f077","block_type":"box","text":"3.69","page_number":147,"box":{"x":404,"y":99,"width":29,"height":8}},{"id":"5230a22c-2a40-414c-9690-5c93c08295ca","block_type":"box","text":"-23.83","page_number":147,"box":{"x":517,"y":99,"width":43,"height":8}},{"id":"6b0f6ebf-d6d1-4ead-8884-79d0d99af4f4","block_type":"box","text":"-5.2","page_number":147,"box":{"x":631,"y":99,"width":25,"height":8}},{"id":"659e6d42-4129-4845-ba13-bbcd8c766647","block_type":"box","text":"8.3","page_number":147,"box":{"x":744,"y":99,"width":21,"height":8}},{"id":"ef07d4fa-39bb-4505-a4f9-dc1a0217196c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":148,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"d62f798e-a947-4f43-b0e2-eab0a8e4c6a1","block_type":"box","text":"148","page_number":148,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"1963aaca-cdfd-4366-bccb-94f6f38fc92b","block_type":"box","text":"Aviva Investors: Confidential","page_number":148,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d8d35d5c-a2de-435d-b7f2-ce07457de432","block_type":"box","text":"AI Pre-Annuity Fixed Interest Fund","page_number":148,"box":{"x":62,"y":53,"width":275,"height":11}},{"id":"d88c318b-22ef-460f-bd15-3a26972ca595","block_type":"box","text":"FCA product reference number: 658320","page_number":148,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"2c157e5b-8587-49c1-b7fa-fc7f892557ca","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":148,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"5e9b6c84-cd4a-4787-a067-01bb060bd433","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":148,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"4df91a5c-718e-4b52-a480-3ea08cd54b86","block_type":"box","text":"Investment Objective and Policy","page_number":148,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"5051cdd4-94d5-45a6-be09-f4458af1ff25","block_type":"box","text":"The Sub-Fund aims to provide an element of protection from changes in the cost of buying a pension annuity by","page_number":148,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"5c008162-cbfd-4880-b97e-6da349abef17","block_type":"box","text":"investing in bonds issued by companies and governments.","page_number":148,"box":{"x":62,"y":198,"width":433,"height":11}},{"id":"e1028e40-da70-4eff-ac1d-1425d416ed6e","block_type":"box","text":"Core investment:","page_number":148,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"31fdd124-2844-4a3e-b112-4584fcb65d56","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in investment grade Sterling denominated longer-dated bonds issued","page_number":148,"box":{"x":62,"y":236,"width":860,"height":12}},{"id":"78307a45-5b77-423a-a13d-b4d14fd2b791","block_type":"box","text":"by companies or issued or guaranteed by governments.","page_number":148,"box":{"x":62,"y":250,"width":413,"height":11}},{"id":"cb677bb0-5020-4561-a126-16176ad16458","block_type":"box","text":"Other investments:","page_number":148,"box":{"x":62,"y":270,"width":151,"height":9}},{"id":"9eae4a71-d505-4542-8673-2be99c5fcef2","block_type":"box","text":"The Sub-Fund may also invest in other bonds, other funds (including funds managed by Aviva Investors companies),","page_number":148,"box":{"x":62,"y":289,"width":860,"height":12}},{"id":"ac906c09-7120-48ba-b225-7a919c8d49af","block_type":"box","text":"derivatives, cash and deposits.","page_number":148,"box":{"x":62,"y":303,"width":228,"height":11}},{"id":"a58a5176-b19a-44c4-a712-9bb7d1e77d4c","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":148,"box":{"x":63,"y":323,"width":860,"height":11}},{"id":"6783eeb8-c627-46d8-aad5-c1ce3533078f","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":148,"box":{"x":62,"y":336,"width":861,"height":12}},{"id":"ec1ed86a-bf6f-47ac-bf26-0e5d64c0536d","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":148,"box":{"x":62,"y":350,"width":545,"height":11}},{"id":"406e711c-f271-4a47-9bd0-f4a2d4ee402b","block_type":"box","text":"Strategy:","page_number":148,"box":{"x":62,"y":369,"width":70,"height":12}},{"id":"1abbc7b7-1a3f-41cd-b9e9-b3b07af742a9","block_type":"box","text":"The Sub-Fund is actively managed with a duration profile which is intended to be similar to that of an annuity, and in","page_number":148,"box":{"x":62,"y":389,"width":860,"height":11}},{"id":"d0b0a01f-6017-4c8c-a3e3-991ea517d8ea","block_type":"box","text":"preparation for an annuity portfolio in the run up to retirement.","page_number":148,"box":{"x":62,"y":403,"width":455,"height":11}},{"id":"7a793e32-10a8-45c9-9ec1-12cfb30517b5","block_type":"box","text":"The Investment Manager will seek incremental returns by taking subtly different positions to the Index, without","page_number":148,"box":{"x":62,"y":422,"width":861,"height":12}},{"id":"70892cdb-a1eb-444e-83c5-f7024f4ea64b","block_type":"box","text":"exposing the Sub-Fund to excessive risk. The Investment Manager will allocate half of the Sub-Fund to longer dated","page_number":148,"box":{"x":62,"y":436,"width":860,"height":11}},{"id":"4947a178-372d-46fa-b470-ef7b6267f880","block_type":"box","text":"UK Gilts to gain exposure to duration, with the remaining half of the Sub-Fund being invested in bonds issued by","page_number":148,"box":{"x":63,"y":450,"width":860,"height":11}},{"id":"71b7b033-4534-4bf4-8e56-4d5669e56251","block_type":"box","text":"companies, with the objective of enhancing the yield of the Sub-Fund.","page_number":148,"box":{"x":62,"y":463,"width":515,"height":12}},{"id":"a09cc89d-6026-40db-a2da-8b31bb32d38a","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":148,"box":{"x":62,"y":483,"width":527,"height":11}},{"id":"22dbc682-67d6-486a-99a2-bf87518af86f","block_type":"box","text":"please see Appendix 2 for information on","page_number":148,"box":{"x":594,"y":483,"width":328,"height":11}},{"id":"51b2e6ff-852d-4a48-a568-89984629a89e","block_type":"box","text":"these limited investment restrictions.","page_number":148,"box":{"x":62,"y":497,"width":295,"height":8}},{"id":"15387bc9-7758-4bb3-8665-17480091d463","block_type":"box","text":"Performance & Risk Measurement:","page_number":148,"box":{"x":63,"y":516,"width":275,"height":9}},{"id":"b51bb039-7cb1-44d5-bb1b-25b77a9c8243","block_type":"box","text":"The Sub-Fund's performance is compared against a composite benchmark of 35% FTSE® UK Gilts 15-25 years Total","page_number":148,"box":{"x":62,"y":536,"width":860,"height":11}},{"id":"f1e28bed-9860-4a12-bd70-59f865fb267f","block_type":"box","text":"Return Index, 15% FTSE® UK Gilts over 25 years Total Return Index, 10% Markit iBoxx® Sterling Non Gilts 1-5 year","page_number":148,"box":{"x":63,"y":549,"width":860,"height":12}},{"id":"8809e811-052f-49fb-9ffd-522e43ce3d03","block_type":"box","text":"Total Return Index, 35% Markit iBoxx® Sterling Non-Gilts 5-15 years Total Return Index, 5% Markit iBoxx® Sterling","page_number":148,"box":{"x":62,"y":563,"width":860,"height":11}},{"id":"feadaa84-9b47-454d-a864-864c8514e5e4","block_type":"box","text":"Non-Gilts over 15 years Total Return Index (the “Index”)","page_number":148,"box":{"x":63,"y":577,"width":413,"height":11}},{"id":"f25235c0-2355-475a-8031-6e09aa104daa","block_type":"box","text":"□","page_number":148,"box":{"x":478,"y":578,"width":5,"height":4}},{"id":"9024a7b1-e055-4cd7-b171-60d3d708a37a","block_type":"box","text":".","page_number":148,"box":{"x":485,"y":584,"width":2,"height":1}},{"id":"54095e45-f85e-4c64-9773-3853aa2552c3","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, which is only a representation of the investment","page_number":148,"box":{"x":62,"y":596,"width":861,"height":12}},{"id":"084ab24c-40b3-4862-838a-be4d86ca75d9","block_type":"box","text":"universe, therefore the Sub-Fund will hold bonds that are not part of the Index, and will only hold a relatively small","page_number":148,"box":{"x":63,"y":610,"width":859,"height":11}},{"id":"40b72d1a-3052-4386-aad7-335f5f7393e4","block_type":"box","text":"proportion of bonds relative to the number in the Index.","page_number":148,"box":{"x":62,"y":624,"width":406,"height":11}},{"id":"adca7e77-a8ae-4865-9ae1-5770b2b8b5e6","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":148,"box":{"x":62,"y":643,"width":861,"height":12}},{"id":"8512b84c-9a3a-41fc-ac0e-9b95841fe5d8","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":148,"box":{"x":63,"y":657,"width":859,"height":11}},{"id":"a7ca5cb7-9167-4ee0-9053-3ff3f7646176","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 0% and 1.5% when","page_number":148,"box":{"x":62,"y":671,"width":860,"height":11}},{"id":"da8ff225-edd2-450c-80e6-974bf40f7a08","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":148,"box":{"x":62,"y":684,"width":650,"height":12}},{"id":"3428f96c-c9b5-4db5-94c9-9c253898ec9a","block_type":"box","text":"The Index represents the performance of broad range of Sterling denominated bonds issued by companies and","page_number":148,"box":{"x":62,"y":704,"width":860,"height":11}},{"id":"9bd5bd38-af11-41a1-9ba9-8beafee7b076","block_type":"box","text":"governments.","page_number":148,"box":{"x":62,"y":718,"width":100,"height":11}},{"id":"7c05772c-9c02-4d9b-819e-f862af107fb9","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":148,"box":{"x":62,"y":737,"width":861,"height":11}},{"id":"dedc140d-650f-4104-ad61-8f624e1c7f82","block_type":"box","text":"the type of bonds in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the Sub","page_number":148,"box":{"x":62,"y":751,"width":860,"height":11}},{"id":"6404a6ce-1c31-44bf-ba2e-f2f598d42ddc","block_type":"box","text":"Fund’s performance.","page_number":148,"box":{"x":63,"y":764,"width":151,"height":12}},{"id":"5a762dee-ee53-4abd-9074-fb394fd84dd2","block_type":"box","text":"Additional Information","page_number":148,"box":{"x":62,"y":784,"width":177,"height":9}},{"id":"83279069-c2f0-472c-8d7e-09c7ab99bb40","block_type":"box","text":"Investment Manager","page_number":148,"box":{"x":118,"y":810,"width":151,"height":11}},{"id":"8edb2807-e5b7-4c6d-87d8-87348e83f2cc","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":148,"box":{"x":352,"y":810,"width":294,"height":9}},{"id":"df4d657e-e15b-4d3c-b747-266ae0af53a6","block_type":"box","text":"Type of Units","page_number":148,"box":{"x":116,"y":836,"width":98,"height":12}},{"id":"8d20e48e-f600-486c-92e2-153a3d31f85a","block_type":"box","text":"Insured Pension Accumulation Units","page_number":148,"box":{"x":354,"y":863,"width":267,"height":8}},{"id":"fd86bd73-6604-43f6-b49e-c71e0a824a10","block_type":"box","text":"UK Institutional Accumulation Units","page_number":148,"box":{"x":353,"y":889,"width":260,"height":8}},{"id":"383ed983-6872-4dc7-a989-731c9dae4217","block_type":"box","text":"Dealing Day","page_number":148,"box":{"x":118,"y":915,"width":89,"height":11}},{"id":"1ab8edeb-3636-4337-8190-98f37343a267","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":148,"box":{"x":354,"y":915,"width":393,"height":11}},{"id":"b39f76c3-58fd-459c-927d-f084b0ee87f2","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":149,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"9d5be666-6140-4c72-8c9d-3316202c33fd","block_type":"box","text":"149","page_number":149,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"d7411c1f-2c7d-46fd-a7fd-b4b4bba0746c","block_type":"box","text":"Aviva Investors: Confidential","page_number":149,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"3b80eaf1-98a3-46ce-99a4-77961f203e33","block_type":"box","text":"Deal Cut-Off Point","page_number":149,"box":{"x":118,"y":59,"width":134,"height":9}},{"id":"9c0f5fd3-6711-4f77-9863-aa8a350c3485","block_type":"box","text":"1.00 p.m.","page_number":149,"box":{"x":354,"y":59,"width":66,"height":11}},{"id":"13069edd-b850-4bdc-a010-fc242b978260","block_type":"box","text":"Valuation Point","page_number":149,"box":{"x":117,"y":85,"width":112,"height":9}},{"id":"d1b8fae6-8989-4191-87dc-26ed8e1cb2a1","block_type":"box","text":"2.00 p.m.","page_number":149,"box":{"x":353,"y":86,"width":67,"height":10}},{"id":"e723c10d-39e8-4c1a-9f31-83dcd852ec6d","block_type":"box","text":"*Minimum Investment","page_number":149,"box":{"x":117,"y":111,"width":172,"height":9}},{"id":"3b182324-fc73-4e51-8965-a4bfda45ace8","block_type":"box","text":"Insured Pension","page_number":149,"box":{"x":118,"y":138,"width":118,"height":8}},{"id":"f706e51e-887e-43b0-b38e-97889d116af7","block_type":"box","text":"Accumulation Units","page_number":149,"box":{"x":116,"y":151,"width":143,"height":9}},{"id":"5e28a32c-3548-44c2-971d-57d970c17938","block_type":"box","text":",","page_number":149,"box":{"x":261,"y":158,"width":2,"height":3}},{"id":"ad9f086a-26b1-4889-8045-8267397138e6","block_type":"box","text":"UK","page_number":149,"box":{"x":271,"y":151,"width":21,"height":9}},{"id":"4c19cac5-6de1-4603-bcaa-8c09942191e6","block_type":"box","text":"Institutional Accumulation","page_number":149,"box":{"x":118,"y":165,"width":187,"height":9}},{"id":"7a53ca2b-db0b-4425-b023-9157e54768c9","block_type":"box","text":"Units","page_number":149,"box":{"x":118,"y":179,"width":36,"height":8}},{"id":"5b0931ae-bf09-4b75-8a86-c49cff30ccfe","block_type":"box","text":"No minimum","page_number":149,"box":{"x":353,"y":138,"width":92,"height":8}},{"id":"71393d33-c97e-4b53-a7fd-4f80d7b90bf8","block_type":"box","text":"Minimum withdrawal","page_number":149,"box":{"x":117,"y":205,"width":150,"height":8}},{"id":"6b458fa7-2c73-4994-b119-01abfb63c4ad","block_type":"box","text":"No minimum","page_number":149,"box":{"x":353,"y":205,"width":92,"height":8}},{"id":"612e06c5-d5d3-4e2d-ae1a-ec9ed41ac97d","block_type":"box","text":"Tax Criteria for investment","page_number":149,"box":{"x":116,"y":231,"width":213,"height":9}},{"id":"59e6dc4e-c299-4850-8dc1-f17c9de89c74","block_type":"box","text":"Insured Pension","page_number":149,"box":{"x":118,"y":257,"width":118,"height":8}},{"id":"4f3bd987-fe38-4526-a884-2bf466ca9551","block_type":"box","text":"Accumulation Units","page_number":149,"box":{"x":116,"y":271,"width":143,"height":8}},{"id":"ff5c8cc5-425d-4d0c-92a9-0325c1828e7b","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":149,"box":{"x":352,"y":257,"width":404,"height":11}},{"id":"7e10e517-79e5-4a55-b7f9-493bb066e8f4","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":149,"box":{"x":353,"y":270,"width":404,"height":11}},{"id":"195bcac4-0ad0-42e9-b65c-65c83f28402d","block_type":"box","text":"back exclusively its unit linked pension business","page_number":149,"box":{"x":353,"y":284,"width":404,"height":11}},{"id":"7753b270-54b7-415d-b141-2faeb4dd94ff","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":149,"box":{"x":353,"y":298,"width":404,"height":11}},{"id":"179dddd2-5726-4221-861d-d4858e7d9210","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":149,"box":{"x":353,"y":311,"width":307,"height":11}},{"id":"9a4dab32-9e06-43c9-920a-107e03d8486c","block_type":"box","text":"UK Institutional","page_number":149,"box":{"x":118,"y":338,"width":110,"height":8}},{"id":"d0fdcdd1-c615-44fa-a136-0ff7cd045cb4","block_type":"box","text":"Accumulation Units","page_number":149,"box":{"x":116,"y":351,"width":143,"height":9}},{"id":"5cb95b44-2869-4b2d-b872-e9a05f7f91ac","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":149,"box":{"x":352,"y":338,"width":404,"height":11}},{"id":"c49e6f56-d55a-4ce8-96fe-707c1055641b","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":149,"box":{"x":353,"y":351,"width":403,"height":11}},{"id":"c4033d89-9acc-4cee-b604-0c58a96d5705","block_type":"box","text":"tax treaties.","page_number":149,"box":{"x":352,"y":365,"width":85,"height":9}},{"id":"0652677c-5bfd-4aa6-8d04-65ed94b481f9","block_type":"box","text":"**Current Charges:","page_number":149,"box":{"x":117,"y":397,"width":149,"height":11}},{"id":"d067d5f5-cd4b-45d7-8b02-834b3f522b50","block_type":"box","text":"Insured Pension","page_number":149,"box":{"x":118,"y":423,"width":118,"height":9}},{"id":"646902d0-515d-4717-94d1-d7f06d391cac","block_type":"box","text":"Accumulation Units, UK","page_number":149,"box":{"x":116,"y":437,"width":176,"height":10}},{"id":"17496fee-a0d1-4730-9e25-7c25cbe68bd9","block_type":"box","text":"Institutional Accumulation","page_number":149,"box":{"x":118,"y":450,"width":187,"height":9}},{"id":"715b9f3b-2e3d-4a9c-b136-3d5f7b1ae1b4","block_type":"box","text":"Units","page_number":149,"box":{"x":118,"y":464,"width":36,"height":9}},{"id":"e88bf480-05b0-45ab-9621-be65bc9099ab","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":149,"box":{"x":352,"y":423,"width":404,"height":11}},{"id":"c8238c6c-d63f-4ab3-9267-d3f6c8a52cf6","block_type":"box","text":"Unitholder","page_number":149,"box":{"x":353,"y":437,"width":75,"height":9}},{"id":"61c3fe93-0184-4cdc-965b-fc918d12306b","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":149,"box":{"x":352,"y":456,"width":404,"height":12}},{"id":"05849f7e-9e63-4d10-9ad3-d0529472eaea","block_type":"box","text":"property","page_number":149,"box":{"x":353,"y":471,"width":60,"height":10}},{"id":"3dce25ef-5d5f-4b45-8c29-5ee6166cfb4d","block_type":"box","text":"Accounting Dates","page_number":149,"box":{"x":117,"y":516,"width":141,"height":11}},{"id":"4bd7f673-5253-4ce6-a22a-0fdefa869f32","block_type":"box","text":"Annual Accounting Date","page_number":149,"box":{"x":116,"y":542,"width":180,"height":11}},{"id":"bc3dd672-e0cc-4aab-aaac-911749ed8f42","block_type":"box","text":"31 December","page_number":149,"box":{"x":353,"y":542,"width":100,"height":9}},{"id":"33a8e5ff-7c99-43ed-96dd-d6c97d2ea9f8","block_type":"box","text":"First Accounting Date","page_number":149,"box":{"x":118,"y":568,"width":158,"height":11}},{"id":"af7b3d01-e6e8-4861-b074-6bbb4e1b844f","block_type":"box","text":"31 December 2017","page_number":149,"box":{"x":353,"y":568,"width":141,"height":9}},{"id":"f11a50f6-d1b2-4c11-98d0-46da9f81721f","block_type":"box","text":"Annual Income Allocation","page_number":149,"box":{"x":116,"y":594,"width":188,"height":9}},{"id":"e62262ae-90f2-44a7-b4de-71183c28174a","block_type":"box","text":"Date","page_number":149,"box":{"x":118,"y":608,"width":33,"height":8}},{"id":"b49b5cd5-fe09-493b-844e-c6afde70abb4","block_type":"box","text":"On or before 28 /29 February","page_number":149,"box":{"x":353,"y":594,"width":217,"height":11}},{"id":"65782ea1-90aa-49db-8a2b-cb5960b581a9","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":149,"box":{"x":118,"y":634,"width":293,"height":11}},{"id":"fc9aac8f-0043-4e81-b89a-d3885194e7ba","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":149,"box":{"x":62,"y":660,"width":861,"height":11}},{"id":"1926c0fc-8dff-41b9-afe3-e5dd1a5672fb","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":149,"box":{"x":62,"y":674,"width":408,"height":11}},{"id":"1ea07705-e295-4efd-913d-e98d9b929556","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":149,"box":{"x":62,"y":693,"width":642,"height":11}},{"id":"aa97bf34-f350-426d-8b43-f7321782a77f","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":149,"box":{"x":62,"y":713,"width":860,"height":11}},{"id":"ebde7d79-511b-4258-a275-d6f260501c38","block_type":"box","text":"this Prospectus.","page_number":149,"box":{"x":62,"y":727,"width":117,"height":10}},{"id":"930ddb8d-549a-45f3-8ab6-65902f6a9562","block_type":"box","text":"□","page_number":149,"box":{"x":62,"y":742,"width":5,"height":3}},{"id":"67719c28-cdc2-45d0-bd4c-5d04b21db3b0","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":149,"box":{"x":74,"y":740,"width":342,"height":9}},{"id":"82fe763d-8f92-4ee0-9133-d76723454b2e","block_type":"box","text":"Securities Financing and other Transactions:","page_number":149,"box":{"x":62,"y":773,"width":358,"height":12}},{"id":"5cc0b946-3ce0-4e72-a1dc-590eb1cbbffe","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":149,"box":{"x":62,"y":793,"width":860,"height":11}},{"id":"d1653e6e-7184-4aa8-9628-ed9038001f7d","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":149,"box":{"x":62,"y":807,"width":438,"height":11}},{"id":"b0013791-2b8c-42df-8bc6-b09a98faff82","block_type":"box","text":"The maximum proportion of the NAV of the Sub-Fund that can be subject to securities lending or repo transactions is","page_number":149,"box":{"x":62,"y":846,"width":861,"height":11}},{"id":"05971da5-86ee-4a8d-a24d-9ac7c557a454","block_type":"box","text":"50%. The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":149,"box":{"x":62,"y":860,"width":860,"height":11}},{"id":"81170c46-13e8-483d-ba41-32489cbda128","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":150,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"6b37addb-fc7b-4558-b826-9830b41a50ae","block_type":"box","text":"150","page_number":150,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"18bc099f-7f11-411e-9cf1-06b178af6424","block_type":"box","text":"Aviva Investors: Confidential","page_number":150,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"eeae58b1-d235-4afa-9344-d438d69644c7","block_type":"box","text":"time. The expected proportion of the Sub-Fund’s NAV that will be subject to securities lending or repo transactions is","page_number":150,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"c86a0016-0cce-4ed7-98f8-daf284c760ce","block_type":"box","text":"30%.","page_number":150,"box":{"x":62,"y":66,"width":36,"height":9}},{"id":"4b19e67a-7c0e-40c8-802b-06c867108b1f","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":150,"box":{"x":62,"y":105,"width":860,"height":12}},{"id":"4fc09e9f-291a-47df-9c2f-3dccfc3a6a6e","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":150,"box":{"x":62,"y":119,"width":860,"height":11}},{"id":"992cf2fa-8209-497b-ba78-49ae252e40e1","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":150,"box":{"x":62,"y":133,"width":861,"height":11}},{"id":"050c4820-1388-4beb-b62c-2aa03c7904e6","block_type":"box","text":"is zero.","page_number":150,"box":{"x":62,"y":147,"width":52,"height":8}},{"id":"f0bbbe56-1bd5-45e7-ab56-d2f1f7e224a1","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":150,"box":{"x":62,"y":205,"width":249,"height":9}},{"id":"3cff2fbf-7db1-47e6-98b9-8ecd77951c0b","block_type":"box","text":"Leverage","page_number":150,"box":{"x":63,"y":244,"width":72,"height":11}},{"id":"eaf062b1-4b7d-4149-835e-f8a5a798f1ec","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":150,"box":{"x":63,"y":264,"width":860,"height":11}},{"id":"2dec9026-31a8-4987-94e0-c525a6d35f1a","block_type":"box","text":"management.","page_number":150,"box":{"x":62,"y":278,"width":101,"height":11}},{"id":"94c49a29-a399-4b1a-9031-015d19e42a8b","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":150,"box":{"x":62,"y":311,"width":860,"height":11}},{"id":"38f73005-1c3f-4047-95e0-e19102212871","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":150,"box":{"x":62,"y":325,"width":649,"height":11}},{"id":"2964b352-fce2-4217-864f-2d32e60ac353","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":150,"box":{"x":62,"y":352,"width":755,"height":11}},{"id":"ae547b52-2ebd-4499-a61f-9402e3a37983","block_type":"box","text":"Permitted derivatives","page_number":150,"box":{"x":72,"y":382,"width":168,"height":9}},{"id":"8b48ca36-af0f-4696-bec6-c0b25dcc1ea2","block_type":"box","text":"Permitted?","page_number":150,"box":{"x":383,"y":382,"width":85,"height":9}},{"id":"7679f5e2-0acd-460c-b1d4-e448a859e7b7","block_type":"box","text":"Prohibited?","page_number":150,"box":{"x":489,"y":382,"width":91,"height":9}},{"id":"084ecb8e-ec87-4ba1-8435-5bc250bbf2b9","block_type":"box","text":"Equity index futures","page_number":150,"box":{"x":72,"y":402,"width":146,"height":11}},{"id":"bafb2f16-4224-47e5-908e-b2c73f5c919c","block_type":"box","text":"√","page_number":150,"box":{"x":530,"y":403,"width":8,"height":7}},{"id":"d9c48692-0b57-4660-9d56-6b127ed7dbac","block_type":"box","text":"Government bond futures","page_number":150,"box":{"x":72,"y":421,"width":188,"height":9}},{"id":"b0df1362-3a73-4ace-b69f-41ca56ec3196","block_type":"box","text":"√","page_number":150,"box":{"x":421,"y":421,"width":8,"height":8}},{"id":"53e2c43c-1cc6-47b3-a3d7-705cf1e0f3d9","block_type":"box","text":"Equity index options","page_number":150,"box":{"x":72,"y":439,"width":148,"height":11}},{"id":"82baf896-529e-402b-9be4-afa3080c9b3d","block_type":"box","text":"√","page_number":150,"box":{"x":530,"y":440,"width":8,"height":7}},{"id":"18cbbdca-71b1-4a46-a844-84aad4d0ac20","block_type":"box","text":"Forward foreign exchange","page_number":150,"box":{"x":72,"y":457,"width":193,"height":12}},{"id":"3ad38293-0987-4d88-8c53-dddfd29c89c3","block_type":"box","text":"√","page_number":150,"box":{"x":421,"y":458,"width":8,"height":8}},{"id":"89e75339-b196-4b3a-8dd8-b04726bb196c","block_type":"box","text":"Index credit default swaps","page_number":150,"box":{"x":72,"y":476,"width":192,"height":11}},{"id":"2098abea-d7c9-4623-84ce-821ceb81d76e","block_type":"box","text":"√","page_number":150,"box":{"x":421,"y":476,"width":8,"height":8}},{"id":"5cb06fe5-96ba-4107-beb4-3aca6760905c","block_type":"box","text":"Interest rate swaps","page_number":150,"box":{"x":72,"y":494,"width":140,"height":11}},{"id":"9f222c69-fc3e-4adb-8349-a183f4b9e81f","block_type":"box","text":"√","page_number":150,"box":{"x":421,"y":495,"width":8,"height":7}},{"id":"e52a497c-789c-4462-b1f4-90058e695efc","block_type":"box","text":"OTC equity options","page_number":150,"box":{"x":72,"y":513,"width":142,"height":11}},{"id":"61d4ce06-df86-4d5c-97f1-b8e81c7071e4","block_type":"box","text":"√","page_number":150,"box":{"x":530,"y":513,"width":8,"height":8}},{"id":"2d0a895b-83ff-43c8-9271-243b7f8ec39f","block_type":"box","text":"Inflation swaps","page_number":150,"box":{"x":72,"y":531,"width":109,"height":11}},{"id":"badb9e33-0d59-45f9-ac3e-6cf64f0bda2a","block_type":"box","text":"√","page_number":150,"box":{"x":421,"y":532,"width":8,"height":7}},{"id":"50a8cc36-c84d-4cb4-a437-1426529b4204","block_type":"box","text":"Cross currency swaps","page_number":150,"box":{"x":72,"y":549,"width":163,"height":12}},{"id":"a1c77e3b-873f-403f-8bd5-bd1d6a083c47","block_type":"box","text":"√","page_number":150,"box":{"x":421,"y":550,"width":8,"height":8}},{"id":"aa5c5eba-990e-4f74-a657-2392e7cf1041","block_type":"box","text":"Other","page_number":150,"box":{"x":72,"y":568,"width":41,"height":9}},{"id":"2bc4b4b6-6c4c-4d6c-830f-c4ee5d178319","block_type":"box","text":"√","page_number":150,"box":{"x":530,"y":568,"width":8,"height":8}},{"id":"aa698fe0-4b8a-4b6c-9769-db03edbbd171","block_type":"box","text":"Leverage Limits","page_number":150,"box":{"x":63,"y":610,"width":128,"height":11}},{"id":"4b7bb7f5-62d9-430a-b7e5-7d776403b5df","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":150,"box":{"x":200,"y":610,"width":722,"height":11}},{"id":"61887e64-f882-4511-abff-734b3d067da4","block_type":"box","text":"Regime):","page_number":150,"box":{"x":63,"y":623,"width":65,"height":11}},{"id":"70292c92-2dbf-47c3-b02a-7543a0e4bd0e","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":150,"box":{"x":62,"y":650,"width":471,"height":12}},{"id":"cabef70f-26ae-498f-a50c-de0c305be37e","block_type":"box","text":"","page_number":150,"box":{"x":62,"y":682,"width":6,"height":4}},{"id":"fb882542-67a1-4e6d-9847-367622c5f3c4","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":150,"box":{"x":92,"y":679,"width":193,"height":11}},{"id":"4358b1a2-5b2c-4a0e-a8dc-d226fccb23f3","block_type":"box","text":"","page_number":150,"box":{"x":62,"y":698,"width":6,"height":5}},{"id":"c03fec09-94c5-41ac-bc65-b6afc9245a7d","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":150,"box":{"x":92,"y":695,"width":183,"height":11}},{"id":"2cdf8c79-f6cb-43af-89f9-d465b3317651","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":150,"box":{"x":62,"y":736,"width":860,"height":11}},{"id":"8016d333-3407-447e-827e-33a047b83453","block_type":"box","text":"which case leverage will not exceed the following:","page_number":150,"box":{"x":62,"y":750,"width":368,"height":11}},{"id":"e7d4ca16-c567-43d7-a57c-a5f5506cd5a1","block_type":"box","text":"","page_number":150,"box":{"x":62,"y":781,"width":6,"height":5}},{"id":"e8a1c659-9dc5-43b7-bec2-a23e73cddc06","block_type":"box","text":"Gross Method: Up to 1.7:1","page_number":150,"box":{"x":92,"y":778,"width":193,"height":11}},{"id":"7610e57f-eb3b-450f-a0b0-240a2e66d9e4","block_type":"box","text":"","page_number":150,"box":{"x":62,"y":798,"width":6,"height":4}},{"id":"ce02697a-f821-4fc5-b2e7-343c97d03f44","block_type":"box","text":"Commitment: Up to 1.5:1","page_number":150,"box":{"x":92,"y":795,"width":183,"height":11}},{"id":"8519171e-41d2-4411-9f2a-6e1fa8f65930","block_type":"box","text":"Specific Risks","page_number":150,"box":{"x":62,"y":842,"width":113,"height":11}},{"id":"7603d410-aaac-455f-9677-37aff93433d9","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":150,"box":{"x":181,"y":842,"width":462,"height":11}},{"id":"f1078e37-f58b-46c9-82ce-81a0a7302769","block_type":"box","text":"","page_number":150,"box":{"x":62,"y":865,"width":6,"height":5}},{"id":"00232e82-071f-4ec4-a11a-d2f011b4a044","block_type":"box","text":"Fixed Interest","page_number":150,"box":{"x":93,"y":862,"width":100,"height":9}},{"id":"73c39acc-b16f-40c3-9ef2-cab6044536af","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":151,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"cf0a32d8-cf18-4134-9b80-0d8178e6ba78","block_type":"box","text":"151","page_number":151,"box":{"x":781,"y":940,"width":16,"height":6}},{"id":"b03a57de-2d55-4583-acb2-242f5f8b9264","block_type":"box","text":"Aviva Investors: Confidential","page_number":151,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"e39a1653-2344-40c5-884d-e3919cb5030a","block_type":"box","text":"Past Performance – AI Pre-Annuity Fixed Interest Fund","page_number":151,"box":{"x":72,"y":59,"width":436,"height":11}},{"id":"6adbed4d-2e04-48e7-85ab-8682a990ecf8","block_type":"box","text":"% Growth","page_number":151,"box":{"x":71,"y":79,"width":77,"height":9}},{"id":"7c89f6d4-ceda-4c42-a24e-6606132b86bd","block_type":"box","text":"1/1/2024 to","page_number":151,"box":{"x":302,"y":104,"width":88,"height":8}},{"id":"f81e73c9-8cd5-461e-9b8f-719de75b9d95","block_type":"box","text":"31/12/2024","page_number":151,"box":{"x":301,"y":117,"width":75,"height":8}},{"id":"bb36bcae-2dc6-4ad7-82c5-e02a6cac2933","block_type":"box","text":"1/1/2023 to","page_number":151,"box":{"x":410,"y":104,"width":92,"height":8}},{"id":"b92431aa-8770-429f-a66f-8f76283ae7c8","block_type":"box","text":"31/12/2023","page_number":151,"box":{"x":409,"y":117,"width":75,"height":8}},{"id":"57b78bd5-f7dc-4b3f-996d-659df1919874","block_type":"box","text":"1/1/2022 to","page_number":151,"box":{"x":521,"y":104,"width":93,"height":8}},{"id":"23f840af-78fd-4471-81e5-22a22b4d9bfa","block_type":"box","text":"31/12/2022","page_number":151,"box":{"x":521,"y":117,"width":75,"height":8}},{"id":"f1c6cfc9-e28b-438e-b5fd-9623772ebeba","block_type":"box","text":"1/1/2021 to","page_number":151,"box":{"x":634,"y":104,"width":92,"height":8}},{"id":"a362ddfd-f728-4592-8523-ef304e48d7e5","block_type":"box","text":"31/12/2021","page_number":151,"box":{"x":633,"y":117,"width":73,"height":8}},{"id":"f6adc377-5b88-44a4-b982-44925fe812bb","block_type":"box","text":"1/1/2020 to","page_number":151,"box":{"x":745,"y":104,"width":93,"height":8}},{"id":"e74aa180-d29d-4568-93b5-cf385d0ae465","block_type":"box","text":"31/12/2020","page_number":151,"box":{"x":745,"y":117,"width":75,"height":8}},{"id":"e9e9f9c2-c2e6-4780-a7f9-70d2ed3336e6","block_type":"box","text":"UK Corporate Income","page_number":151,"box":{"x":72,"y":141,"width":210,"height":11}},{"id":"f16ae8e2-b7c3-497f-9898-6da8d8870796","block_type":"box","text":"Distribution Units (%)","page_number":151,"box":{"x":72,"y":154,"width":140,"height":10}},{"id":"761f1bf8-38af-4153-9a3e-038a76690293","block_type":"box","text":"Insured Pension Income","page_number":151,"box":{"x":72,"y":179,"width":210,"height":8}},{"id":"3f77a6bc-0ebc-417e-a123-ec6f33351110","block_type":"box","text":"Distribution Units (%)","page_number":151,"box":{"x":72,"y":191,"width":140,"height":10}},{"id":"0aedefcc-c8e3-4aca-98f7-c34152e8c5f3","block_type":"box","text":"UK Institutional Accumulation","page_number":151,"box":{"x":72,"y":216,"width":209,"height":8}},{"id":"784a05af-d0e2-47d9-a790-69c13c7fe0eb","block_type":"box","text":"Units (%)","page_number":151,"box":{"x":72,"y":228,"width":60,"height":10}},{"id":"90f8c549-dd4e-4ace-9af8-449c39873dc3","block_type":"box","text":"-3.48","page_number":151,"box":{"x":301,"y":216,"width":34,"height":8}},{"id":"e2f6fdd5-f014-4951-8e99-aabc7690d212","block_type":"box","text":"6.11","page_number":151,"box":{"x":409,"y":216,"width":26,"height":8}},{"id":"07d1ab8f-0b28-4e13-aae7-3f559ec6253f","block_type":"box","text":"-27.76","page_number":151,"box":{"x":521,"y":216,"width":42,"height":8}},{"id":"9db0d2f4-b804-4e64-90e3-efa7edeb0fdb","block_type":"box","text":"-4.3","page_number":151,"box":{"x":633,"y":216,"width":25,"height":8}},{"id":"9c59605c-48b0-46d2-aabb-af0f16c4ea58","block_type":"box","text":"10.3","page_number":151,"box":{"x":746,"y":216,"width":27,"height":8}},{"id":"3adf6f74-ad51-4d58-8805-123721281097","block_type":"box","text":"ACS (Fund of Fund)","page_number":151,"box":{"x":71,"y":253,"width":210,"height":10}},{"id":"05960f72-b677-4f55-a965-0a94358e5619","block_type":"box","text":"Accumulation Units Class 1 (%)","page_number":151,"box":{"x":71,"y":265,"width":210,"height":10}},{"id":"828e3107-cff3-42ea-b436-8215b8d2fd50","block_type":"box","text":"ACS (Fund of Fund)","page_number":151,"box":{"x":71,"y":290,"width":210,"height":10}},{"id":"602c3b52-f3ac-4df3-b73a-5e28c15b7918","block_type":"box","text":"Accumulation Units Class 2 (%)","page_number":151,"box":{"x":71,"y":302,"width":210,"height":10}},{"id":"8d1d65e7-6d3a-4b27-b96e-a864a61e6a5f","block_type":"box","text":"UK Corporate Accumulation","page_number":151,"box":{"x":72,"y":327,"width":209,"height":10}},{"id":"c1edb44f-bd17-4261-b6c2-20fa4eb4b346","block_type":"box","text":"Units (%)","page_number":151,"box":{"x":72,"y":339,"width":60,"height":10}},{"id":"b9e8fe6d-5b93-4d7f-a099-c6211ef750c9","block_type":"box","text":"Insured Pension Accumulation","page_number":151,"box":{"x":72,"y":364,"width":209,"height":8}},{"id":"5049daf0-c1c7-4832-9106-c6c78b721862","block_type":"box","text":"Units (%)","page_number":151,"box":{"x":72,"y":376,"width":60,"height":10}},{"id":"bb377788-2576-4673-94b5-2d121d5967e1","block_type":"box","text":"-3.49","page_number":151,"box":{"x":301,"y":364,"width":33,"height":8}},{"id":"4aa2fffd-a2a5-4533-969e-0a6513046bd1","block_type":"box","text":"6.10","page_number":151,"box":{"x":409,"y":364,"width":29,"height":8}},{"id":"f786f474-25cf-4094-af80-99408fa87849","block_type":"box","text":"-27.75","page_number":151,"box":{"x":521,"y":364,"width":42,"height":8}},{"id":"34402a49-f1f8-4620-94fd-99415f3e7642","block_type":"box","text":"-4.5","page_number":151,"box":{"x":633,"y":364,"width":25,"height":8}},{"id":"8bcc3bf3-528a-4a42-b5c7-edaeb9737ecb","block_type":"box","text":"N/A","page_number":151,"box":{"x":746,"y":364,"width":23,"height":8}},{"id":"157b45fb-95ef-4221-9485-49abf2a7e1b0","block_type":"box","text":"UK Fund of Fund Accumulation","page_number":151,"box":{"x":72,"y":401,"width":209,"height":8}},{"id":"7e5c06e2-d55d-4ada-8b09-8dda9a8e5fdc","block_type":"box","text":"Units (%)","page_number":151,"box":{"x":72,"y":413,"width":60,"height":10}},{"id":"b4b012e2-9f69-4811-a2a3-a00fa7f795fe","block_type":"box","text":"Index – a composite benchmark","page_number":151,"box":{"x":72,"y":441,"width":212,"height":10}},{"id":"86033378-8aff-4414-9aaa-a9e6fa590d8e","block_type":"box","text":"of 35% FTSE® UK Gilts 15-25","page_number":151,"box":{"x":72,"y":453,"width":211,"height":8}},{"id":"ebd298ce-f3e8-445f-bb46-b6ff3f7ed87f","block_type":"box","text":"years Total Return Index, 15%","page_number":151,"box":{"x":71,"y":466,"width":211,"height":10}},{"id":"1f9f43ae-34fc-4f63-b564-068708f2796e","block_type":"box","text":"FTSE® UK Gilts over 25 years","page_number":151,"box":{"x":72,"y":478,"width":211,"height":10}},{"id":"336d8f0e-9c68-4536-b63d-72452a7643d5","block_type":"box","text":"Total Return Index, 10% Markit","page_number":151,"box":{"x":73,"y":490,"width":211,"height":9}},{"id":"2c7155c5-df0d-4e17-b03b-2e1cfb15ca5a","block_type":"box","text":"iBoxx® Sterling Non Gilts 1-5","page_number":151,"box":{"x":72,"y":502,"width":211,"height":10}},{"id":"fc63c54e-628c-4e3c-b810-4c6b978b28e8","block_type":"box","text":"Year Total Return Index, 35%","page_number":151,"box":{"x":73,"y":515,"width":209,"height":9}},{"id":"5aa5cad1-f129-46d9-b099-82249cdbd97d","block_type":"box","text":"Markit iBoxx® Sterling Non Gilts","page_number":151,"box":{"x":72,"y":527,"width":211,"height":10}},{"id":"44130569-1ae5-4c6a-8691-3eb3fabbc9a1","block_type":"box","text":"5-15 Years Total Return Index,","page_number":151,"box":{"x":72,"y":539,"width":209,"height":10}},{"id":"8aafa6ab-bed0-4bcd-9c73-8092fa86ed6c","block_type":"box","text":"5% Markit iBoxx® Sterling Non","page_number":151,"box":{"x":72,"y":551,"width":211,"height":11}},{"id":"54a6a28b-cd5b-4c00-8ef0-49966f637df4","block_type":"box","text":"Gilts over 15 Years Total Return","page_number":151,"box":{"x":73,"y":564,"width":210,"height":8}},{"id":"253d2c96-226e-4394-a899-10b1396f2565","block_type":"box","text":"Index","page_number":151,"box":{"x":72,"y":576,"width":37,"height":8}},{"id":"24b2e26c-37d8-4efd-a6ca-5a702f17032b","block_type":"box","text":"-4.20","page_number":151,"box":{"x":302,"y":441,"width":34,"height":8}},{"id":"3bda09ae-2b15-4208-b653-102489393a2e","block_type":"box","text":"6.23","page_number":151,"box":{"x":410,"y":441,"width":29,"height":8}},{"id":"0e6d2d49-76fd-452c-96bb-912636c94634","block_type":"box","text":"-27.49","page_number":151,"box":{"x":522,"y":441,"width":42,"height":8}},{"id":"72baa410-6d30-431d-b051-fb4ab5111733","block_type":"box","text":"-5.1","page_number":151,"box":{"x":634,"y":441,"width":24,"height":8}},{"id":"5ed588f9-f360-4f84-9400-0333ed6cd389","block_type":"box","text":"10.1","page_number":151,"box":{"x":748,"y":441,"width":25,"height":8}},{"id":"5a3bed88-8781-41a1-90b9-7c94fbdb3df9","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":152,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"e7a41885-6370-45e5-9c34-afc50eefffd7","block_type":"box","text":"152","page_number":152,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"6de1790e-2ede-43f4-aaf9-f0b14c0e935c","block_type":"box","text":"Aviva Investors: Confidential","page_number":152,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"1b709f36-a36e-4b94-8050-1267dbbd2688","block_type":"box","text":"AI Money Market VNAV Fund","page_number":152,"box":{"x":62,"y":53,"width":229,"height":11}},{"id":"81cad80e-1d42-41d9-88ec-727ce0848905","block_type":"box","text":"FCA product reference number: 658321","page_number":152,"box":{"x":63,"y":72,"width":310,"height":11}},{"id":"e0d2d749-d59d-48e8-afd2-8071b93d15ab","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":152,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"37083947-5414-47f8-8332-f318ab4af11f","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":152,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"a239f5e0-115d-4f40-a43b-cf6310f5ad6d","block_type":"box","text":"Investment Objective and Policy","page_number":152,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"78dd8957-76c5-4933-9bf3-4fd4e0a0b84f","block_type":"box","text":"The Sub-Fund aims to provide short-term liquidity.","page_number":152,"box":{"x":62,"y":184,"width":370,"height":11}},{"id":"0b281c0d-b30c-452e-8f3c-f528603e8bba","block_type":"box","text":"The investment objectives and policy will meet the conditions specified in the definition of a “regulated money market","page_number":152,"box":{"x":62,"y":203,"width":861,"height":12}},{"id":"492e4c7f-fed5-42db-9005-ff5693f7708d","block_type":"box","text":"fund” (as set out in the COLL Sourcebook) and the Sub-Fund is a “VNAV MMF” as defined in Article 3 of MMFR, and","page_number":152,"box":{"x":62,"y":217,"width":861,"height":11}},{"id":"49385970-1ecd-4692-8dfe-f1b9b57286f2","block_type":"box","text":"a “short-term MMF” as defined in Article 2 of the same Regulation.","page_number":152,"box":{"x":62,"y":231,"width":490,"height":11}},{"id":"fcff5ae8-6efa-4b69-98ae-cb6016bd0bd7","block_type":"box","text":"Core investment:","page_number":152,"box":{"x":62,"y":250,"width":135,"height":9}},{"id":"1f622258-80f5-4441-8c6f-7acac47819a7","block_type":"box","text":"The Investment Manager may invest in cash, deposits, and money market instruments.","page_number":152,"box":{"x":62,"y":270,"width":644,"height":11}},{"id":"1ef46518-968f-4521-b0e3-395ebd110e18","block_type":"box","text":"Strategy:","page_number":152,"box":{"x":62,"y":289,"width":70,"height":12}},{"id":"6dda3603-4b43-475f-a677-42926d5da2d2","block_type":"box","text":"The Sub-Fund aims to maintain capital value and provide liquidity by investing in a well-diversified portfolio of money","page_number":152,"box":{"x":62,"y":309,"width":861,"height":11}},{"id":"42a6b7e0-9ace-4ca6-b184-dd2568149ed1","block_type":"box","text":"market type securities.","page_number":152,"box":{"x":62,"y":323,"width":166,"height":11}},{"id":"e177721a-c3b7-4653-8897-4880a106972a","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":152,"box":{"x":62,"y":342,"width":527,"height":11}},{"id":"ef456cdc-b0e5-4829-9ed0-7edf66ca09f0","block_type":"box","text":"please see Appendix 2 for information on","page_number":152,"box":{"x":594,"y":342,"width":328,"height":11}},{"id":"9100aa54-4f27-4498-a772-2712fd63c485","block_type":"box","text":"these limited investment restrictions.","page_number":152,"box":{"x":62,"y":356,"width":295,"height":9}},{"id":"bcb8d08a-93b7-406b-8eea-ece390fd20ac","block_type":"box","text":"Performance & Risk Measurement:","page_number":152,"box":{"x":63,"y":376,"width":275,"height":8}},{"id":"70946b42-f169-4c9f-af75-cfa492388421","block_type":"box","text":"The Sub-Fund’s performance is compared against SONIA (the “Benchmark”).","page_number":152,"box":{"x":62,"y":395,"width":573,"height":11}},{"id":"15245f8b-885c-41c1-91bb-3ed43a935e71","block_type":"box","text":"The Benchmark is the Sterling Overnight Index Average (SONIA) which is a reference rate based on actual","page_number":152,"box":{"x":62,"y":415,"width":860,"height":11}},{"id":"482c204c-b694-4776-a2da-2b7464697e4b","block_type":"box","text":"transactions that reflects the average of the interest rates that banks pay to borrow sterling overnight from other","page_number":152,"box":{"x":62,"y":428,"width":861,"height":12}},{"id":"0524a2c0-30cf-44a3-8177-2f8d28ca665c","block_type":"box","text":"financial institutions and institutional investors.","page_number":152,"box":{"x":62,"y":442,"width":342,"height":9}},{"id":"5261c661-8a7a-43f9-aab6-e8d441e13eb4","block_type":"box","text":"The Benchmark has been selected as a comparator for performance measurement because it is representative of","page_number":152,"box":{"x":62,"y":462,"width":861,"height":11}},{"id":"56db8b9e-6e7d-4807-8350-d6be6c3a148b","block_type":"box","text":"the level of return that is achievable by investing in liquid money market securities.","page_number":152,"box":{"x":62,"y":475,"width":609,"height":12}},{"id":"eab868bc-50c5-4bee-a2ed-b10831888923","block_type":"box","text":"Additional Information","page_number":152,"box":{"x":62,"y":515,"width":177,"height":8}},{"id":"e18aa4e1-46d0-4f06-82d8-ae32e17de69f","block_type":"box","text":"Investment Manager","page_number":152,"box":{"x":118,"y":541,"width":151,"height":11}},{"id":"92c8798d-fc22-44bc-ba48-996406db515b","block_type":"box","text":"Schroder Investment Management Limited","page_number":152,"box":{"x":353,"y":541,"width":315,"height":11}},{"id":"8895c432-35dd-400b-af9e-4e45323097db","block_type":"box","text":"Type of Units","page_number":152,"box":{"x":116,"y":567,"width":98,"height":11}},{"id":"84200539-626c-4997-b4ce-d2dd76ba2a7a","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":152,"box":{"x":353,"y":567,"width":292,"height":11}},{"id":"e9ceddb6-4d3d-4c89-8569-6e48fdb3b42c","block_type":"box","text":"Insured Pension Income Distribution Units","page_number":152,"box":{"x":354,"y":593,"width":310,"height":9}},{"id":"ceef3847-3507-4432-b898-710c6c24a54a","block_type":"box","text":"UK Institutional Accumulation Units","page_number":152,"box":{"x":353,"y":619,"width":260,"height":9}},{"id":"aead4aa7-d4b4-4e81-871f-449febdb9a36","block_type":"box","text":"Dealing Day","page_number":152,"box":{"x":118,"y":645,"width":89,"height":11}},{"id":"1c1dffc1-52c7-4d96-8c8f-ca5304711f45","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":152,"box":{"x":354,"y":645,"width":393,"height":11}},{"id":"3861fbfb-6991-49fd-aecd-82c659c09f45","block_type":"box","text":"Deal Cut-Off Point","page_number":152,"box":{"x":118,"y":671,"width":134,"height":9}},{"id":"52ccbce3-5c24-493e-9ef2-d73c27147b8b","block_type":"box","text":"2.00 p.m.","page_number":152,"box":{"x":353,"y":672,"width":67,"height":10}},{"id":"c1a73509-3b86-4811-9497-2c0505fa98c9","block_type":"box","text":"Valuation Point","page_number":152,"box":{"x":117,"y":698,"width":112,"height":8}},{"id":"2218b31e-70e2-4ea0-8685-91d0e871439c","block_type":"box","text":"3.00 p.m.","page_number":152,"box":{"x":353,"y":698,"width":67,"height":11}},{"id":"99f8bc36-3fc6-447b-bb35-b91326c570eb","block_type":"box","text":"*Minimum Investment","page_number":152,"box":{"x":117,"y":724,"width":172,"height":8}},{"id":"3b739d28-ed31-4b44-89b8-f0598440ecdd","block_type":"box","text":"UK Corporate Income","page_number":152,"box":{"x":118,"y":749,"width":160,"height":12}},{"id":"9507e996-142c-4190-8416-86ae0cd99cf0","block_type":"box","text":"Distribution Units, Insured","page_number":152,"box":{"x":118,"y":763,"width":189,"height":11}},{"id":"f92d6c32-614e-4e61-bba3-e9f1d59460e9","block_type":"box","text":"Pension Income Distribution","page_number":152,"box":{"x":118,"y":777,"width":206,"height":9}},{"id":"f6cce697-5fb0-47f7-b64d-2579bb526a4a","block_type":"box","text":"Units, UK Institutional","page_number":152,"box":{"x":118,"y":791,"width":158,"height":10}},{"id":"3c5de584-c8e8-46c8-aafc-66a168ca1fca","block_type":"box","text":"Accumulation Units","page_number":152,"box":{"x":116,"y":804,"width":143,"height":9}},{"id":"2363c1a3-6084-42df-aede-d5d200e3589c","block_type":"box","text":"No minimum","page_number":152,"box":{"x":353,"y":750,"width":92,"height":8}},{"id":"4053c5b5-2fce-4891-a833-2380476d576c","block_type":"box","text":"Minimum withdrawal","page_number":152,"box":{"x":117,"y":831,"width":150,"height":8}},{"id":"787d313a-ef5e-4273-8506-5b5d05adf99f","block_type":"box","text":"No minimum","page_number":152,"box":{"x":353,"y":831,"width":92,"height":8}},{"id":"ad2a1ca5-26e8-42af-9c57-384965c9610a","block_type":"box","text":"Tax Criteria for investment","page_number":152,"box":{"x":116,"y":856,"width":213,"height":9}},{"id":"6a89e646-332a-475f-8fc2-580191da1889","block_type":"box","text":"UK Corporate Income","page_number":152,"box":{"x":118,"y":883,"width":160,"height":11}},{"id":"b18ad608-73bb-40de-b2d4-b12550c18ded","block_type":"box","text":"Distribution Units","page_number":152,"box":{"x":118,"y":896,"width":124,"height":9}},{"id":"abea5752-b956-4a80-a7cd-06be6ba2eb71","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":152,"box":{"x":352,"y":883,"width":404,"height":11}},{"id":"654b90b1-cda1-419c-90fc-7cb8acb18686","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":152,"box":{"x":353,"y":896,"width":404,"height":11}},{"id":"d7375220-f5f2-4d0b-82d0-61280c07d4c8","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":153,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"10971fbd-716b-457d-9a5e-eb63d84db233","block_type":"box","text":"153","page_number":153,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"f2ba5959-f2f4-4254-99eb-a788c89db906","block_type":"box","text":"Aviva Investors: Confidential","page_number":153,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"7b7083bd-b689-4632-88cd-48fb8d175de0","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":153,"box":{"x":352,"y":53,"width":405,"height":11}},{"id":"05e8499d-c1f5-49a1-afc8-e534997e9948","block_type":"box","text":"linked pension business contracts.","page_number":153,"box":{"x":353,"y":67,"width":253,"height":11}},{"id":"002cd9fc-e3e0-4029-847e-53369b9e8080","block_type":"box","text":"Insured Pension Income","page_number":153,"box":{"x":118,"y":93,"width":179,"height":9}},{"id":"af214a38-1db6-4be6-8aab-78367579fdf4","block_type":"box","text":"Distribution Units","page_number":153,"box":{"x":118,"y":107,"width":124,"height":8}},{"id":"170248ec-937b-493f-bf51-413b3155e17a","block_type":"box","text":"UK Institutional","page_number":153,"box":{"x":118,"y":165,"width":110,"height":9}},{"id":"039b4ad3-ff40-416b-b40b-b90fd9c7beed","block_type":"box","text":"Accumulation Units","page_number":153,"box":{"x":116,"y":179,"width":143,"height":9}},{"id":"1758a794-4663-4a49-9c32-a1cd3c7761b7","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":153,"box":{"x":352,"y":93,"width":404,"height":11}},{"id":"bf7d9722-7700-4d40-ac85-e10a9ba8d510","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":153,"box":{"x":353,"y":107,"width":404,"height":11}},{"id":"a7be7f1e-aa55-4fb7-824e-cfc1a5f30ba3","block_type":"box","text":"back exclusively its unit linked pension business","page_number":153,"box":{"x":353,"y":120,"width":404,"height":11}},{"id":"37d1119a-5f37-4ef1-b2c6-c2714a50e9d0","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":153,"box":{"x":353,"y":134,"width":404,"height":11}},{"id":"cbbd8d87-e5e7-4bb4-808e-b6cd433abaf5","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":153,"box":{"x":353,"y":148,"width":307,"height":11}},{"id":"2ebd300e-c380-487d-8b8e-95c62d569bd3","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":153,"box":{"x":352,"y":167,"width":404,"height":11}},{"id":"d52bcec6-f985-425c-ba58-44ddedacf6cc","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":153,"box":{"x":353,"y":181,"width":403,"height":11}},{"id":"e49bbfef-4da8-45f7-b7e2-173c20e258bb","block_type":"box","text":"tax treaties.","page_number":153,"box":{"x":352,"y":195,"width":85,"height":8}},{"id":"849935ce-8141-44db-a840-6b8d47faaf7d","block_type":"box","text":"**Current Charges:","page_number":153,"box":{"x":117,"y":244,"width":149,"height":12}},{"id":"5711776b-8f9a-46d7-a49a-9f89abca8e95","block_type":"box","text":"UK Corporate Income","page_number":153,"box":{"x":118,"y":270,"width":160,"height":11}},{"id":"70363b74-fb54-4ab1-9b1c-26866e25faa9","block_type":"box","text":"Distribution Units, Insured","page_number":153,"box":{"x":118,"y":284,"width":189,"height":10}},{"id":"3f1f6a52-333f-4ce0-9ca2-a69e5b27b512","block_type":"box","text":"Pension Income Distribution","page_number":153,"box":{"x":118,"y":298,"width":206,"height":9}},{"id":"cc4986e5-708f-4f27-b8e9-d748637b2cdf","block_type":"box","text":"Units, UK Institutional","page_number":153,"box":{"x":118,"y":312,"width":158,"height":10}},{"id":"8ff8be76-ebfd-4109-9a92-2bd2fadba1be","block_type":"box","text":"Accumulation Units","page_number":153,"box":{"x":116,"y":325,"width":143,"height":9}},{"id":"05692bbb-6c90-4bb5-8fd9-403227e693e3","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":153,"box":{"x":352,"y":270,"width":404,"height":12}},{"id":"d9cd7663-475a-4344-92e1-b7b31258ea6a","block_type":"box","text":"Unitholder","page_number":153,"box":{"x":353,"y":284,"width":75,"height":9}},{"id":"70595576-1802-4b11-811c-c1912afd85f1","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":153,"box":{"x":352,"y":304,"width":404,"height":11}},{"id":"034eb5cf-20e1-4273-91fa-73bd77b10808","block_type":"box","text":"property","page_number":153,"box":{"x":353,"y":318,"width":60,"height":11}},{"id":"0fc2d7f6-d79c-4563-ad1b-aa9b0d0fce7b","block_type":"box","text":"Accounting Dates","page_number":153,"box":{"x":117,"y":363,"width":141,"height":11}},{"id":"6d9b4286-12a7-4792-98fa-8314c916215c","block_type":"box","text":"Annual Accounting Date","page_number":153,"box":{"x":116,"y":389,"width":180,"height":11}},{"id":"bfc52204-e2e2-4fec-a17c-6f1b1e97cb1c","block_type":"box","text":"31 December","page_number":153,"box":{"x":353,"y":389,"width":100,"height":9}},{"id":"b3e9f88f-b6ba-40b1-97d0-acd2dcb27f1a","block_type":"box","text":"First Accounting Date","page_number":153,"box":{"x":118,"y":416,"width":158,"height":11}},{"id":"95176660-6e10-4dfd-a4bb-6ee683096a9f","block_type":"box","text":"31 December 2015","page_number":153,"box":{"x":353,"y":416,"width":141,"height":8}},{"id":"e48461cf-5237-44f4-ae52-64989cdbf3ca","block_type":"box","text":"Annual Income Allocation","page_number":153,"box":{"x":116,"y":442,"width":188,"height":8}},{"id":"63683a47-7c81-4ae2-9726-ee41edb738e5","block_type":"box","text":"Date","page_number":153,"box":{"x":118,"y":455,"width":33,"height":9}},{"id":"a6ffe578-6130-424e-a1f8-ab8f2263022d","block_type":"box","text":"On or before 28 /29 February","page_number":153,"box":{"x":353,"y":441,"width":217,"height":12}},{"id":"127cc382-6577-4882-97f0-e2db4c7a8319","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":153,"box":{"x":118,"y":481,"width":293,"height":12}},{"id":"1e026813-dbd6-4b3a-91c8-121f72e5a29c","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":153,"box":{"x":62,"y":507,"width":861,"height":11}},{"id":"f3df9464-5942-4fc3-9d19-c7a95441691e","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":153,"box":{"x":62,"y":521,"width":408,"height":11}},{"id":"f590448e-0585-41f7-823f-76851b530222","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":153,"box":{"x":62,"y":541,"width":642,"height":11}},{"id":"69ddae40-e802-42f1-940b-07624de6150b","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":153,"box":{"x":62,"y":560,"width":860,"height":11}},{"id":"a73a1420-d97a-4f9b-ae4b-78001ca275c2","block_type":"box","text":"this Prospectus.","page_number":153,"box":{"x":62,"y":574,"width":117,"height":11}},{"id":"3e8a1361-bf10-46c0-8452-77dc71afe508","block_type":"box","text":"Securities Financing and other Transactions:","page_number":153,"box":{"x":62,"y":613,"width":358,"height":11}},{"id":"f88a5314-c776-435a-a711-a3a22e6f10a5","block_type":"box","text":"The Sub-Fund does not participate in securities lending.","page_number":153,"box":{"x":62,"y":633,"width":413,"height":11}},{"id":"47a7fe25-dce5-4afa-ac2a-1e203848c450","block_type":"box","text":"The Sub-Fund does not use Repo contracts.","page_number":153,"box":{"x":62,"y":672,"width":328,"height":11}},{"id":"63c9984e-bdba-4459-b3a9-9b8e1b10333d","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":153,"box":{"x":62,"y":711,"width":249,"height":9}},{"id":"798406ce-5737-4704-b0c2-a2f8bc0c167e","block_type":"box","text":"Leverage","page_number":153,"box":{"x":63,"y":750,"width":72,"height":11}},{"id":"d35576ab-2db0-4cc3-96b2-f95aef8fb4d0","block_type":"box","text":"The Sub-Fund is managed as a money market fund and does not use derivatives or borrowing to increase investment","page_number":153,"box":{"x":62,"y":777,"width":861,"height":12}},{"id":"059876f8-e6e0-4bcc-b05d-e69a5d63ad37","block_type":"box","text":"exposure.","page_number":153,"box":{"x":62,"y":793,"width":72,"height":9}},{"id":"5ec4fddb-1eb6-4ec8-a672-586c72b8aa31","block_type":"box","text":"Leverage Limits (exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":153,"box":{"x":63,"y":818,"width":859,"height":12}},{"id":"4a94f545-eac5-401d-b685-4bf1bbf3440f","block_type":"box","text":"Regime):","page_number":153,"box":{"x":63,"y":832,"width":69,"height":11}},{"id":"a289367d-60c7-486e-b6b1-e576f64c31ec","block_type":"box","text":"The Sub-Fund is managed as a money market fund and does not use derivatives or borrowing to increase investment","page_number":153,"box":{"x":62,"y":859,"width":861,"height":12}},{"id":"43a1161b-5679-49f4-8eb6-01ad03d00356","block_type":"box","text":"exposure. Nevertheless, the leverage measures required to be disclosed under AIFMD may indicate a level of","page_number":153,"box":{"x":62,"y":873,"width":861,"height":11}},{"id":"a560403e-220f-4694-ac23-b5680bc21183","block_type":"box","text":"leverage above 100% of the Sub-Fund's net asset value.","page_number":153,"box":{"x":62,"y":887,"width":419,"height":11}},{"id":"9579eb91-0844-41aa-adaf-2db404c75381","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":154,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"0db4c7d2-7e13-4442-90ce-6c6824e196aa","block_type":"box","text":"154","page_number":154,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"1578e25e-c3b6-4397-ae1b-07648970065c","block_type":"box","text":"Aviva Investors: Confidential","page_number":154,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"55b8f523-6820-4665-837a-e0c06f268fcf","block_type":"box","text":"This is a consequence of the regulatory calculation methodology rather than the Sub-Fund taking on additional","page_number":154,"box":{"x":62,"y":52,"width":860,"height":12}},{"id":"816f373e-b1ed-435a-bd4c-741c612e2bf7","block_type":"box","text":"economic leverage. As part of the routine management of the Sub-Fund's liquidity and maturity profile, new money","page_number":154,"box":{"x":62,"y":66,"width":861,"height":11}},{"id":"872f7e69-6d41-4bd6-8af9-7d8eb092afc8","block_type":"box","text":"market instruments may be committed to contractually before existing instruments mature. Where this occurs, both","page_number":154,"box":{"x":62,"y":80,"width":860,"height":11}},{"id":"4d2b0e20-f442-48a4-a7ad-2aca4553651c","block_type":"box","text":"positions may be reflected in the AIFMD leverage calculation for a period of time, increasing the reported leverage","page_number":154,"box":{"x":62,"y":94,"width":861,"height":11}},{"id":"73b4274b-d07d-44af-965a-fec047ae1535","block_type":"box","text":"measure.","page_number":154,"box":{"x":62,"y":109,"width":68,"height":7}},{"id":"b3418b64-2c74-4d9a-89b5-d5c2aeb9ec2b","block_type":"box","text":"On this basis, the Sub-Fund is generally expected to be leveraged as follows:","page_number":154,"box":{"x":62,"y":134,"width":572,"height":12}},{"id":"acb94499-f853-4537-9667-2d0c3d9381b3","block_type":"box","text":"","page_number":154,"box":{"x":62,"y":166,"width":6,"height":4}},{"id":"1483354c-4fa9-423d-be10-2597138ebd4c","block_type":"box","text":"Gross Method: Up to 1:1","page_number":154,"box":{"x":74,"y":163,"width":179,"height":11}},{"id":"2f224611-68d9-4f1c-908c-90928b29e279","block_type":"box","text":"","page_number":154,"box":{"x":62,"y":180,"width":6,"height":5}},{"id":"6e311f29-e7fc-40d7-a028-d1f672d180e8","block_type":"box","text":"Commitment: Up to 1.03:1","page_number":154,"box":{"x":74,"y":177,"width":193,"height":11}},{"id":"5a329413-4b6c-4cea-931e-a866f632aba8","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, as a result of changes in portfolio composition, cash","page_number":154,"box":{"x":62,"y":204,"width":860,"height":12}},{"id":"28941eb6-a6c3-47c5-ad73-d8b91e38325a","block_type":"box","text":"flows and the timing of investment maturities and reinvestment, in which case leverage will not exceed the following:","page_number":154,"box":{"x":62,"y":218,"width":859,"height":11}},{"id":"7ae30dec-17d8-4708-b110-4ceb624c5254","block_type":"box","text":"","page_number":154,"box":{"x":62,"y":250,"width":6,"height":4}},{"id":"fa059fff-dbba-4891-828c-962614d0d963","block_type":"box","text":"Gross Method: Up to 1.25:1","page_number":154,"box":{"x":74,"y":246,"width":203,"height":11}},{"id":"952eca79-3326-485b-a5c4-578766fe7e78","block_type":"box","text":"","page_number":154,"box":{"x":62,"y":264,"width":6,"height":4}},{"id":"51c03762-c268-4f10-94c5-c1af8043177f","block_type":"box","text":"Commitment: Up to 1.25:1","page_number":154,"box":{"x":74,"y":261,"width":193,"height":11}},{"id":"e3fcad04-e750-42e9-8b4e-4d06df0aca44","block_type":"box","text":"Specific Risks","page_number":154,"box":{"x":62,"y":300,"width":113,"height":11}},{"id":"ec922550-4b75-47c2-890d-7ef340040ed0","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":154,"box":{"x":181,"y":300,"width":462,"height":11}},{"id":"bcb143d3-1b47-4a5c-92ec-6e0a01c167f3","block_type":"box","text":"","page_number":154,"box":{"x":62,"y":324,"width":6,"height":4}},{"id":"1d5fe133-8ab6-4406-ae3c-55c1e6d19893","block_type":"box","text":"Fixed Interest","page_number":154,"box":{"x":93,"y":321,"width":100,"height":8}},{"id":"dc31041c-6a24-421d-a5c9-cdd871dc2fc0","block_type":"box","text":"","page_number":154,"box":{"x":62,"y":338,"width":6,"height":4}},{"id":"8df1a19e-5a64-408d-b41b-1cbd1a879630","block_type":"box","text":"Money Market","page_number":154,"box":{"x":93,"y":335,"width":104,"height":11}},{"id":"2158ff98-7167-42a0-b1e4-aa2250620d5f","block_type":"box","text":"MMFR","page_number":154,"box":{"x":63,"y":362,"width":48,"height":9}},{"id":"2f49825e-43db-49b9-bd67-2c4b338b6b3b","block_type":"box","text":"The Sub-Fund will only invest in the following (each as defined in MMFR):","page_number":154,"box":{"x":62,"y":376,"width":545,"height":11}},{"id":"3f7750ce-c4b2-41c1-ab3c-98f091bc00b2","block_type":"box","text":"(a) Eligible money market instruments (e.g. CD’s. CP) with a maturity of less than 397 days from settlement, and","page_number":154,"box":{"x":74,"y":401,"width":848,"height":12}},{"id":"85ccba72-13ec-491b-afc5-f795ce6be989","block_type":"box","text":"a minimum rating of A1 or P1 (lower of Moody or S&P); and","page_number":154,"box":{"x":121,"y":415,"width":441,"height":11}},{"id":"5127f62e-dd10-4c95-876e-540c93c48a09","block_type":"box","text":"(b) Eligible deposits with credit institutions so long as the deposit is repayable on demand and may be withdrawn","page_number":154,"box":{"x":74,"y":441,"width":848,"height":11}},{"id":"22918eee-b607-4891-b8e0-e669086bca5d","block_type":"box","text":"at any time, will mature in no more than 12 months, and the credit institution is registered in the UK, an EU","page_number":154,"box":{"x":121,"y":454,"width":801,"height":12}},{"id":"5e5daca5-b012-457e-958c-bd557618d747","block_type":"box","text":"member state or a country other than the UK or an EU member state with equivalent prudential rules.","page_number":154,"box":{"x":122,"y":468,"width":748,"height":11}},{"id":"e7384a6d-656a-439c-b7cb-ed77a21fb7f4","block_type":"box","text":"The Sub-Fund will not invest in assets other than as set out above (including not investing in other money market","page_number":154,"box":{"x":62,"y":487,"width":861,"height":12}},{"id":"8fad6f89-c775-4b78-8809-a674a3a3fbf1","block_type":"box","text":"funds or derivatives), will not undertake any short selling, will not take direct or indirect exposure to equities or","page_number":154,"box":{"x":62,"y":501,"width":861,"height":11}},{"id":"752564c8-d4da-4a57-9f4e-383aa31ec1c3","block_type":"box","text":"commodities, will not enter into securities lending or borrowing arrangements, and will not borrow or lend cash. The","page_number":154,"box":{"x":62,"y":515,"width":861,"height":11}},{"id":"b3c14561-9f64-40cb-bde1-b0f1f5e1e8f0","block_type":"box","text":"Sub-Fund does not hold any ancillary liquid assets as defined in UCITS Directive as implemented in the EEA.","page_number":154,"box":{"x":62,"y":529,"width":809,"height":11}},{"id":"393bacff-e478-4960-a48d-fb508fb66b41","block_type":"box","text":"The Sub-Fund will invest no more than 10% of its assets in money market instruments issued by the same body,","page_number":154,"box":{"x":62,"y":556,"width":860,"height":11}},{"id":"74b5f2f2-0449-4248-8211-2e5aa133c386","block_type":"box","text":"provided that the total value of such money market instruments in each issuing body in which the Sub-Fund invests","page_number":154,"box":{"x":62,"y":569,"width":861,"height":12}},{"id":"0a733021-c7e8-4756-9d5f-efca7a4b8a63","block_type":"box","text":"more than 5% of its assets does not exceed 40% of the value of its assets.","page_number":154,"box":{"x":62,"y":583,"width":551,"height":9}},{"id":"c5f90fa8-1d8b-44d7-8e3f-da6dafbb0e31","block_type":"box","text":"The Sub-Fund will invest no more than 10% of its assets in deposits made with the same credit institution.","page_number":154,"box":{"x":62,"y":610,"width":783,"height":12}},{"id":"965e563c-21bd-4900-80a6-71ee70abb063","block_type":"box","text":"The Sub-Fund will not invest more than 10% of its assets in bonds issued by a single credit institution, provided that","page_number":154,"box":{"x":62,"y":638,"width":861,"height":11}},{"id":"f4d7a9be-77a9-42f7-a715-733460de020c","block_type":"box","text":"where the Sub-Fund holds more than 5% of its assets in bonds issued by a single issuer, the total value of those","page_number":154,"box":{"x":62,"y":651,"width":861,"height":12}},{"id":"0582a251-b10e-4c89-9e80-38060c9078fc","block_type":"box","text":"investments exceeding 5% shall not exceed 40% of the value of the assets of the Sub-Fund.","page_number":154,"box":{"x":62,"y":665,"width":683,"height":11}},{"id":"2d81317d-4485-4dae-b78a-70ba3cdb1fff","block_type":"box","text":"The Sub-Fund shall hold no more than 15% of its assets in the combined money market instruments and deposits of","page_number":154,"box":{"x":62,"y":692,"width":861,"height":12}},{"id":"90d94c8e-a173-49ed-a19d-6cd66a467de6","block_type":"box","text":"any single body.","page_number":154,"box":{"x":62,"y":706,"width":119,"height":11}},{"id":"5e156bd1-0866-4269-83c1-81d54cb81824","block_type":"box","text":"The Sub-Fund’s portfolio has a Weighted Average Maturity of no more than 60 days and a Weighted Average Life of","page_number":154,"box":{"x":62,"y":733,"width":861,"height":12}},{"id":"8bda5817-5323-433e-85c3-850c377b0b77","block_type":"box","text":"no more than 120 days. At least 7.5% of the Sub-Fund’s assets are daily-maturing, and at least 15% are weekly","page_number":154,"box":{"x":62,"y":747,"width":861,"height":11}},{"id":"622af83e-216e-4112-ac7e-76f4f4d670d8","block_type":"box","text":"maturing money market instruments.","page_number":154,"box":{"x":62,"y":761,"width":270,"height":11}},{"id":"efb5f2c8-d0e2-45b3-ab4f-146b5472149a","block_type":"box","text":"If the limits set out above and in the MMFR are exceeded for reasons beyond the control of the ACS Manager or","page_number":154,"box":{"x":63,"y":788,"width":860,"height":11}},{"id":"40c936ad-1661-4f59-b473-a9035fb3aa73","block_type":"box","text":"Investment Manager, the Sub-Fund shall adopt, as a priority objective, the correction of that situation, taking due","page_number":154,"box":{"x":63,"y":802,"width":860,"height":11}},{"id":"253bafbd-ddf7-403c-90f6-d16fda2686d0","block_type":"box","text":"account of the interests of Unitholders.","page_number":154,"box":{"x":62,"y":815,"width":284,"height":9}},{"id":"a90f91f8-059a-4782-ae9b-9cc65cb926e8","block_type":"box","text":"Credit Quality Assessment","page_number":154,"box":{"x":62,"y":843,"width":197,"height":11}},{"id":"53e34620-0f20-4d15-866f-2dcccefce9fe","block_type":"box","text":"The Investment Manager assesses the credit quality of assets of the Sub-Fund. The Investment Manager has","page_number":154,"box":{"x":62,"y":856,"width":860,"height":11}},{"id":"779cc4ce-bb3b-4b92-a30c-ef2798c1d3c8","block_type":"box","text":"established, implemented and consistently applies a prudent internal credit quality assessment procedure based on","page_number":154,"box":{"x":62,"y":870,"width":860,"height":11}},{"id":"e40012e9-df1a-4b4a-9ac3-b38f080f54d2","block_type":"box","text":"prudent, systematic and continuous assessment methodologies for determining the credit quality of the class of","page_number":154,"box":{"x":62,"y":884,"width":861,"height":11}},{"id":"437facf9-9995-4ccd-9f5b-0703761f303d","block_type":"box","text":"shares that qualify as money market funds.","page_number":154,"box":{"x":62,"y":897,"width":318,"height":11}},{"id":"012585bb-7cbe-476e-b30a-44a31e53e75f","block_type":"box","text":"Determination of credit risk of an issuer or guarantor is made based on an independent analysis of the issuer’s or","page_number":154,"box":{"x":63,"y":911,"width":861,"height":11}},{"id":"75689ad7-89e4-4a07-8a30-98be97ac5da0","block_type":"box","text":"guarantor’s ability to repay its debt obligations. This determination includes the following elements, where applicable:","page_number":154,"box":{"x":62,"y":925,"width":860,"height":11}},{"id":"ce72ca9a-7c8c-4f95-93ed-cdcbc00b53af","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":155,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"9039d0e7-c026-44b1-b0b0-5d1e47f1377d","block_type":"box","text":"155","page_number":155,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"c3857235-bc14-4842-b141-4503e0779eae","block_type":"box","text":"Aviva Investors: Confidential","page_number":155,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"98b1a2db-6385-40f9-815e-9085f688c40c","block_type":"box","text":"- Financial condition;","page_number":155,"box":{"x":62,"y":53,"width":152,"height":10}},{"id":"8496233f-8d27-40a7-985b-9af429b1fa05","block_type":"box","text":"- Sources of liquidity;","page_number":155,"box":{"x":62,"y":66,"width":154,"height":11}},{"id":"8887a876-be3e-4be8-b9dc-aaa43620888d","block_type":"box","text":"- Ability to react to future market-wide and issuer- or guarantor-specific events, including the ability to repay in a highly","page_number":155,"box":{"x":62,"y":80,"width":861,"height":11}},{"id":"a47d4ca1-7d69-466c-a426-544208c54a17","block_type":"box","text":"adverse situation;","page_number":155,"box":{"x":62,"y":94,"width":129,"height":10}},{"id":"645e6b2c-9cf9-44a2-8dd0-4500621e2769","block_type":"box","text":"- Strength of the issuer’s or guarantor within the economy and relative to economic trends and competitive position.","page_number":155,"box":{"x":62,"y":107,"width":852,"height":11}},{"id":"42bddcad-b281-4217-9fab-dd75292fc04f","block_type":"box","text":"Past Performance – AI Money Market VNAV Fund","page_number":155,"box":{"x":72,"y":155,"width":390,"height":11}},{"id":"56b04eac-994d-4462-aa37-6a0cd792be8b","block_type":"box","text":"% Growth","page_number":155,"box":{"x":71,"y":174,"width":77,"height":9}},{"id":"99d2506b-916d-44f2-8375-4c9ffc028c58","block_type":"box","text":"1/1/2024 to","page_number":155,"box":{"x":281,"y":200,"width":94,"height":8}},{"id":"a432c8be-358d-4528-97e4-1864b454ed79","block_type":"box","text":"31/12/2024","page_number":155,"box":{"x":280,"y":212,"width":75,"height":8}},{"id":"716298de-0508-4cbb-b063-635976716a1d","block_type":"box","text":"1/1/2023 to","page_number":155,"box":{"x":394,"y":200,"width":94,"height":8}},{"id":"7d9f8280-4fd0-49f4-94c6-8cbcdb199e7f","block_type":"box","text":"31/12/2023","page_number":155,"box":{"x":394,"y":212,"width":74,"height":8}},{"id":"5f42acf0-1699-4037-aa6a-9cf014a7b09d","block_type":"box","text":"1/1/2022 to","page_number":155,"box":{"x":508,"y":200,"width":94,"height":8}},{"id":"d991b357-aff4-4728-81f7-b6cff493a942","block_type":"box","text":"31/12/2022","page_number":155,"box":{"x":507,"y":212,"width":75,"height":8}},{"id":"f288a658-945d-47bd-8151-92d14ce2f435","block_type":"box","text":"1/1/2021 to","page_number":155,"box":{"x":621,"y":200,"width":94,"height":8}},{"id":"dc2b3e95-4e3f-4d2e-95c7-d799e95144d9","block_type":"box","text":"31/12/2021","page_number":155,"box":{"x":621,"y":212,"width":72,"height":8}},{"id":"871f22f4-bc24-4235-bc60-3e4bd40a6bb2","block_type":"box","text":"1/1/2020 to","page_number":155,"box":{"x":735,"y":200,"width":103,"height":8}},{"id":"1997ae47-8b51-4ac4-ac37-7f1720054fd5","block_type":"box","text":"31/12/2020","page_number":155,"box":{"x":734,"y":212,"width":75,"height":8}},{"id":"3c5874d9-a515-462c-8248-96a8cdef50a4","block_type":"box","text":"UK Corporate Income","page_number":155,"box":{"x":72,"y":237,"width":189,"height":10}},{"id":"420b5662-b832-4db1-a9e1-726ef58c6716","block_type":"box","text":"Distribution Units (%)","page_number":155,"box":{"x":72,"y":249,"width":140,"height":10}},{"id":"85cc4983-5b07-41b2-963c-0aa769fe7a72","block_type":"box","text":"5.40","page_number":155,"box":{"x":280,"y":237,"width":29,"height":8}},{"id":"96e8aa0e-418b-46d0-be11-da7163324a48","block_type":"box","text":"4.80","page_number":155,"box":{"x":394,"y":237,"width":28,"height":8}},{"id":"1a927893-b1a2-4dae-9c90-58521cb68942","block_type":"box","text":"1.36","page_number":155,"box":{"x":508,"y":237,"width":28,"height":8}},{"id":"d83a3813-21e1-43b6-b49e-49e40af08107","block_type":"box","text":"0.1","page_number":155,"box":{"x":621,"y":237,"width":17,"height":8}},{"id":"78fa8a75-b2e9-48c6-af39-64fb5858bba0","block_type":"box","text":"0.2","page_number":155,"box":{"x":734,"y":237,"width":20,"height":8}},{"id":"c603389e-a34b-442d-90dc-b538548aee36","block_type":"box","text":"Insured Pension Income","page_number":155,"box":{"x":72,"y":280,"width":189,"height":8}},{"id":"517b52a7-0383-4d83-8ca4-73aec35de50b","block_type":"box","text":"Distribution Units (%)","page_number":155,"box":{"x":72,"y":292,"width":140,"height":10}},{"id":"2a0e7477-5c98-475a-a27a-a6348d75c44b","block_type":"box","text":"5.30","page_number":155,"box":{"x":280,"y":280,"width":29,"height":8}},{"id":"5fe0a7a1-c5d0-455e-8d39-6b42359e76ed","block_type":"box","text":"4.90","page_number":155,"box":{"x":394,"y":280,"width":28,"height":8}},{"id":"61106bc0-8280-4035-b219-7be68587530d","block_type":"box","text":"1.33","page_number":155,"box":{"x":508,"y":280,"width":28,"height":8}},{"id":"cab6f126-2d34-47b8-a337-bf9718290a6a","block_type":"box","text":"0.0","page_number":155,"box":{"x":621,"y":280,"width":20,"height":8}},{"id":"e98f8069-1bd5-436d-8dad-e4a1349f395e","block_type":"box","text":"0.3","page_number":155,"box":{"x":734,"y":280,"width":20,"height":8}},{"id":"1e0e937f-2460-4091-9cba-fc306879cf3c","block_type":"box","text":"UK Institutional","page_number":155,"box":{"x":72,"y":323,"width":189,"height":8}},{"id":"7d86d9b1-8f4a-41e1-a10b-117adcb85520","block_type":"box","text":"Accumulation Units (%)","page_number":155,"box":{"x":71,"y":335,"width":156,"height":10}},{"id":"2f326178-3419-4784-a77d-4a521961e621","block_type":"box","text":"5.34","page_number":155,"box":{"x":280,"y":323,"width":29,"height":8}},{"id":"5810b97d-cc36-4c35-b8ef-fa5f5a464f1c","block_type":"box","text":"N/A","page_number":155,"box":{"x":394,"y":323,"width":24,"height":8}},{"id":"91156eae-a316-4955-8001-bcc5ae879870","block_type":"box","text":"ACS (Fund of Fund)","page_number":155,"box":{"x":71,"y":360,"width":190,"height":10}},{"id":"1354b99c-db57-432c-8116-35618f6fc31c","block_type":"box","text":"Accumulation Units Class 1","page_number":155,"box":{"x":71,"y":372,"width":188,"height":9}},{"id":"e62e1c33-acb2-45e6-82b5-01a306064b1b","block_type":"box","text":"(%)","page_number":155,"box":{"x":72,"y":385,"width":21,"height":10}},{"id":"cb015449-2687-4a99-b51a-8965e54b30bd","block_type":"box","text":"ACS (Fund of Fund)","page_number":155,"box":{"x":71,"y":409,"width":190,"height":11}},{"id":"6c54dce3-713c-43fd-bfdf-2d5244411b19","block_type":"box","text":"Accumulation Units Class 2","page_number":155,"box":{"x":71,"y":422,"width":190,"height":8}},{"id":"44f44939-d3d9-472a-abd0-20655784aaa9","block_type":"box","text":"(%)","page_number":155,"box":{"x":72,"y":434,"width":21,"height":10}},{"id":"a9507e33-c64c-46b3-93e0-e69352b127db","block_type":"box","text":"UK Corporate Accumulation","page_number":155,"box":{"x":72,"y":459,"width":189,"height":10}},{"id":"c2ea6048-89b9-4d31-8072-bc46b1316305","block_type":"box","text":"Units (%)","page_number":155,"box":{"x":72,"y":471,"width":60,"height":10}},{"id":"266e0ed6-1006-4692-a731-6854055121d6","block_type":"box","text":"Insured Pension","page_number":155,"box":{"x":72,"y":496,"width":189,"height":8}},{"id":"00d8b71c-2715-4b76-864b-9766b6bd05e9","block_type":"box","text":"Accumulation Units (%)","page_number":155,"box":{"x":71,"y":508,"width":156,"height":10}},{"id":"835c651a-8146-4579-946c-b58a5762bdb2","block_type":"box","text":"UK Fund of Fund","page_number":155,"box":{"x":72,"y":533,"width":189,"height":8}},{"id":"3b96ad0a-d75e-49bb-b028-81713c2343cf","block_type":"box","text":"Accumulation Units (%)","page_number":155,"box":{"x":71,"y":545,"width":156,"height":10}},{"id":"d137a99a-3c97-46af-ba5b-89472fa2e831","block_type":"box","text":"Benchmark – 7 Day GBP","page_number":155,"box":{"x":72,"y":573,"width":191,"height":10}},{"id":"25a454e1-be78-43c6-bd6d-d1c9ee0ab56f","block_type":"box","text":"SONIA","page_number":155,"box":{"x":72,"y":585,"width":46,"height":8}},{"id":"98331214-2b2d-437a-9c04-b6dbda19c725","block_type":"box","text":"(prior to 1 December 2021,","page_number":155,"box":{"x":73,"y":604,"width":188,"height":10}},{"id":"76037eda-c568-4d39-bc22-462ea96ceb3e","block_type":"box","text":"the comparator benchmark","page_number":155,"box":{"x":72,"y":616,"width":191,"height":10}},{"id":"b8531e0f-3b7b-4ba7-9120-b32164c10bfe","block_type":"box","text":"was 7 Day GBP LIBID, and","page_number":155,"box":{"x":73,"y":628,"width":190,"height":10}},{"id":"6c59b06f-6059-4dc5-83ea-46b746a253d1","block_type":"box","text":"therefore the performance","page_number":155,"box":{"x":72,"y":640,"width":190,"height":10}},{"id":"5d9b73e3-4145-433e-82ed-1fcca4ebf4c4","block_type":"box","text":"data shown prior to this date","page_number":155,"box":{"x":72,"y":653,"width":190,"height":10}},{"id":"42ee7540-85a2-4ad6-8b68-1f327f869d06","block_type":"box","text":"relates to this previous","page_number":155,"box":{"x":72,"y":665,"width":190,"height":10}},{"id":"07f9c2df-132a-420a-abd8-6f8e0f05fe2b","block_type":"box","text":"benchmark)","page_number":155,"box":{"x":72,"y":677,"width":79,"height":10}},{"id":"2c3fdfac-92cf-4172-a3cb-c5ab014185dd","block_type":"box","text":"5.23","page_number":155,"box":{"x":281,"y":573,"width":29,"height":8}},{"id":"d991bef7-b276-43a8-8193-85f919104eff","block_type":"box","text":"4.69","page_number":155,"box":{"x":394,"y":573,"width":30,"height":8}},{"id":"ce1ce256-c692-49e9-b956-dcd31385287d","block_type":"box","text":"1.40","page_number":155,"box":{"x":510,"y":573,"width":27,"height":8}},{"id":"24dfb3ca-ea6c-4032-8f51-9c805f3e3b85","block_type":"box","text":"0.5","page_number":155,"box":{"x":622,"y":573,"width":20,"height":8}},{"id":"d32064d0-a4f9-4fdb-82fc-9d80531a3a0b","block_type":"box","text":"0.2","page_number":155,"box":{"x":735,"y":573,"width":20,"height":8}},{"id":"019fbfbe-ed73-4204-bd32-93d0f2ad0143","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":156,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"a137dd10-802b-4341-be87-b25af268c2a8","block_type":"box","text":"156","page_number":156,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"07fec1df-3f6d-4ced-9ee2-69d274d15580","block_type":"box","text":"Aviva Investors: Confidential","page_number":156,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"45e6e77b-7dfb-4192-a974-c4999fc4c4a4","block_type":"box","text":"AI Balanced Pension Fund","page_number":156,"box":{"x":62,"y":53,"width":210,"height":8}},{"id":"d87a1f59-77b0-427f-82ce-27ec00fedfec","block_type":"box","text":"FCA product reference number: 658323","page_number":156,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"ecddf55e-cfdc-41dc-8888-ce5a7bde2837","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":156,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"9b2c4dac-5e4c-46d1-ac09-6b59ed043e64","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":156,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"16c0e0a2-edb6-4076-b330-4a43ce65b090","block_type":"box","text":"Investment Objective and Policy","page_number":156,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"e8445c79-4878-47d5-a98a-b88927e8f591","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more), through a combination of capital","page_number":156,"box":{"x":62,"y":184,"width":860,"height":11}},{"id":"5293f48b-a4f3-40dc-83b2-e62c7d2a1998","block_type":"box","text":"and income returns, and aims to outperform the Composite Benchmark Index by 1.25% (average annualised returns,","page_number":156,"box":{"x":62,"y":197,"width":860,"height":12}},{"id":"deb1f977-9639-4662-a967-e0015ff33585","block_type":"box","text":"before the deduction of charges and taxes, measured over rolling 5-year periods).","page_number":156,"box":{"x":62,"y":211,"width":605,"height":11}},{"id":"a8833ecb-66ce-40f4-aec7-1dd6a2582aa8","block_type":"box","text":"Core investment:","page_number":156,"box":{"x":62,"y":231,"width":135,"height":9}},{"id":"60839805-1b47-4ba4-b487-653fcb22e095","block_type":"box","text":"The Sub-Fund invests in a broad range of global asset classes (including emerging markets) that may include shares,","page_number":156,"box":{"x":62,"y":250,"width":860,"height":11}},{"id":"beb81e06-bffd-47d8-af0e-0dc23c468fcd","block_type":"box","text":"bonds issued by companies or governments (which can be investment grade and sub-investment grade), cash, and","page_number":156,"box":{"x":62,"y":264,"width":860,"height":11}},{"id":"4d25eea0-cd6d-4489-870d-fb67846a2ede","block_type":"box","text":"alternative strategies (such as commodities, real estate, hedge funds, alternative risk premia, and absolute return","page_number":156,"box":{"x":62,"y":277,"width":860,"height":12}},{"id":"8a2741a8-4717-453d-9801-8b50ed99fc44","block_type":"box","text":"strategies). Exposure to alternative strategies will be gained through investment in other funds (including funds","page_number":156,"box":{"x":62,"y":291,"width":861,"height":11}},{"id":"4b05fbe5-a83e-45a1-ba56-a57ca8f4271d","block_type":"box","text":"managed by Aviva Investors companies or the Investment Manager). Exposure to the other asset classes will be","page_number":156,"box":{"x":62,"y":305,"width":861,"height":11}},{"id":"4bf47f5e-cddb-4561-b9c0-671af317a024","block_type":"box","text":"gained through investment in other funds (including funds managed by Aviva Investors companies or the Investment","page_number":156,"box":{"x":62,"y":318,"width":861,"height":12}},{"id":"1c05b689-9483-4965-822d-ebaddb8e13db","block_type":"box","text":"Manager) and also by investing directly in these assets, or through the use of derivatives.","page_number":156,"box":{"x":63,"y":332,"width":659,"height":11}},{"id":"4f029bb9-c6c5-4365-ad57-05738778a556","block_type":"box","text":"A maximum of 20% can be invested in sub-investment grade bonds (directly or through other funds). At least 50% of","page_number":156,"box":{"x":62,"y":352,"width":861,"height":11}},{"id":"1fb8f53a-32fc-42c8-93b7-f55bc8ccf093","block_type":"box","text":"the Sub-Fund’s underlying assets (directly or on look through to the currencies of the underlying assets of other funds)","page_number":156,"box":{"x":62,"y":365,"width":860,"height":12}},{"id":"aec0df2c-ac8a-4c89-802f-15b20cd3d90a","block_type":"box","text":"will be held in US Dollars, Sterling or Euros, with a minimum of 25% in Sterling (including hedged back to Sterling).","page_number":156,"box":{"x":62,"y":379,"width":848,"height":11}},{"id":"cbd56cd0-e580-4a19-82eb-750ca3958462","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":156,"box":{"x":63,"y":399,"width":860,"height":11}},{"id":"e47b3c87-d174-4c73-9411-b1d0568197e4","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":156,"box":{"x":62,"y":412,"width":861,"height":12}},{"id":"04229be7-81a0-4399-8d32-7c6ab35e27af","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":156,"box":{"x":62,"y":426,"width":545,"height":11}},{"id":"60ea9fb1-8ab3-4828-bd06-b36f8d230ad0","block_type":"box","text":"Strategy:","page_number":156,"box":{"x":62,"y":446,"width":70,"height":11}},{"id":"6d2a72ec-65ec-439b-8718-65e7191c2675","block_type":"box","text":"The Sub-Fund is actively managed and seeks to meet the return objective through investment in a diversified range","page_number":156,"box":{"x":62,"y":465,"width":861,"height":11}},{"id":"7a344afc-6222-442f-94e6-e4ef60e669f4","block_type":"box","text":"of global asset classes. The Fund uses a strategic asset allocation (SAA) to target an investment outcome consistent","page_number":156,"box":{"x":62,"y":479,"width":861,"height":11}},{"id":"4380948c-1b16-4638-8f4d-5f932efc8ae2","block_type":"box","text":"with the Fund’s risk profile and return target whilst ensuring sufficient diversification. The Fund uses target asset","page_number":156,"box":{"x":62,"y":493,"width":861,"height":11}},{"id":"bede8725-07dc-4e8f-a105-0fb07607e7ab","block_type":"box","text":"allocation to determine, within a range, the Fund’s allocation to the different asset classes. The Investment Manager","page_number":156,"box":{"x":62,"y":506,"width":861,"height":11}},{"id":"c7b6f30b-e973-4349-8d3e-d19b6ef5a733","block_type":"box","text":"seeks out opportunities where markets are considered to be mispriced relative to their fundamental outlook.","page_number":156,"box":{"x":62,"y":520,"width":795,"height":11}},{"id":"a1298fe4-49d5-440d-b1d6-3e6f16e169ed","block_type":"box","text":"The SAA has been designed to provide a framework for tactical decision making and to allow for tactical changes to","page_number":156,"box":{"x":62,"y":539,"width":861,"height":12}},{"id":"829ee85b-474e-4800-a20e-34844de76966","block_type":"box","text":"the asset mix, aiming to capitalise on specific investment opportunities. This flexibility allows the Fund to try to take","page_number":156,"box":{"x":62,"y":553,"width":861,"height":11}},{"id":"bc459f83-3e4d-4d07-8749-9a8a79119748","block_type":"box","text":"advantage of perceived pricing anomalies or to participate in economic conditions seen as more favourable for one","page_number":156,"box":{"x":62,"y":567,"width":861,"height":11}},{"id":"828430e2-e0f2-480a-85bb-095d4ba2c6d3","block_type":"box","text":"asset class, sector or specific asset relative to others.","page_number":156,"box":{"x":62,"y":580,"width":395,"height":11}},{"id":"6a5d1d8e-36e3-4053-8c6d-ae872e57eac8","block_type":"box","text":"Without limitation to the thresholds set out in the “Core investment” section above, the asset allocation of the Sub","page_number":156,"box":{"x":62,"y":600,"width":860,"height":10}},{"id":"a8431204-e034-4059-89ff-b18d8a4d853e","block_type":"box","text":"Fund is expected to fall within the following permitted ranges relative to the equivalent weight of the relevant overall","page_number":156,"box":{"x":63,"y":614,"width":859,"height":11}},{"id":"8fe6a101-b397-4091-a60e-3848ff0aa056","block_type":"box","text":"asset class or sub-asset class components of the Composite Benchmark Index (as shown in the Performance & Risk","page_number":156,"box":{"x":62,"y":627,"width":861,"height":11}},{"id":"94c868b4-1bb5-4063-92d6-e69dd16e52ff","block_type":"box","text":"Measurement section below). Where the Sub-Fund invests indirectly through other funds, the Investment Manager","page_number":156,"box":{"x":63,"y":641,"width":860,"height":11}},{"id":"06ec353b-2dd1-4652-af14-aa90fd8da3fe","block_type":"box","text":"will look through to the assets held by the other funds in order to allocate these exposures to the relevant overall or","page_number":156,"box":{"x":62,"y":655,"width":861,"height":11}},{"id":"7f14f656-0c1c-4973-bccb-ff7be5cdff10","block_type":"box","text":"sub-asset class component and range.","page_number":156,"box":{"x":62,"y":668,"width":286,"height":11}},{"id":"39b7a907-85b7-45c1-a42f-2a96780054f3","block_type":"box","text":"Asset Class","page_number":156,"box":{"x":68,"y":691,"width":94,"height":9}},{"id":"9d3c82ba-5145-46b9-80f7-6229446d634c","block_type":"box","text":"Total exposure of","page_number":156,"box":{"x":409,"y":691,"width":139,"height":11}},{"id":"e48256c4-6cbc-41cc-ba63-1940c3129d49","block_type":"box","text":"Composite Benchmark","page_number":156,"box":{"x":388,"y":704,"width":182,"height":11}},{"id":"227c1623-de27-48ee-98e9-22b6bb175719","block_type":"box","text":"Index to Asset Class (% of","page_number":156,"box":{"x":375,"y":717,"width":208,"height":11}},{"id":"5e9c8292-f07d-4baf-a200-9642c1b7614a","block_type":"box","text":"Composite Benchmark","page_number":156,"box":{"x":388,"y":730,"width":182,"height":11}},{"id":"941a4b1d-7d8d-4460-88f0-d7bff9b328ab","block_type":"box","text":"Index)","page_number":156,"box":{"x":455,"y":742,"width":48,"height":11}},{"id":"90eb920d-5642-46d9-89b0-8bb0abf0e27e","block_type":"box","text":"Permitted Range for Sub","page_number":156,"box":{"x":594,"y":691,"width":201,"height":12}},{"id":"b034fee2-8759-44ec-94e4-186105fdac2e","block_type":"box","text":"Fund (% of Sub-Fund)","page_number":156,"box":{"x":608,"y":704,"width":174,"height":11}},{"id":"b552f5ef-3106-4a51-a2d1-d2f1b477910a","block_type":"box","text":"Equities (permitted range applied to","page_number":156,"box":{"x":69,"y":760,"width":263,"height":11}},{"id":"fd5334b9-383d-42d1-88d4-58bcee4fb554","block_type":"box","text":"both overall asset class and sub-asset","page_number":156,"box":{"x":69,"y":772,"width":283,"height":9}},{"id":"bc640df4-42c6-4119-ba31-81aa4156c0b2","block_type":"box","text":"class components, as shown in the","page_number":156,"box":{"x":68,"y":785,"width":259,"height":11}},{"id":"8431d281-27bd-4888-b9d9-cae6b56f9267","block_type":"box","text":"Performance & Risk Measurement","page_number":156,"box":{"x":69,"y":798,"width":255,"height":8}},{"id":"9bbbeb6c-7977-4bdb-80c0-9f4dd59c9e7e","block_type":"box","text":"section below)*/***","page_number":156,"box":{"x":68,"y":810,"width":137,"height":11}},{"id":"282be75d-a4af-4751-906a-281554ca60b9","block_type":"box","text":"69.0%","page_number":156,"box":{"x":456,"y":760,"width":46,"height":8}},{"id":"14945780-0ecd-43f5-bc00-c14411347638","block_type":"box","text":"+/-7%","page_number":156,"box":{"x":673,"y":759,"width":43,"height":9}},{"id":"bf192095-2382-436b-9882-67cfa2acc34d","block_type":"box","text":"Fixed Income (permitted range applied","page_number":156,"box":{"x":69,"y":827,"width":285,"height":12}},{"id":"b410595e-0a50-486e-a228-e5ab0df80563","block_type":"box","text":"to both overall asset class and sub","page_number":156,"box":{"x":68,"y":840,"width":262,"height":9}},{"id":"21e505aa-bda6-46ea-a4e4-a1e2a0e158df","block_type":"box","text":"asset class components, as shown in","page_number":156,"box":{"x":68,"y":853,"width":276,"height":10}},{"id":"ab9c5e9e-6697-4b2a-b290-cb1a7d638daa","block_type":"box","text":"the Performance & Risk Measurement","page_number":156,"box":{"x":68,"y":865,"width":284,"height":9}},{"id":"e522c61c-02f0-4d5f-b358-cf037866dd25","block_type":"box","text":"section below)***","page_number":156,"box":{"x":68,"y":877,"width":126,"height":12}},{"id":"b278cc9b-19ac-4029-a7b8-7825ad2d97c7","block_type":"box","text":"26.5%","page_number":156,"box":{"x":455,"y":827,"width":47,"height":9}},{"id":"222cf490-d919-44f0-a5b7-788d0bc9cc71","block_type":"box","text":"+/-7%","page_number":156,"box":{"x":673,"y":827,"width":43,"height":9}},{"id":"771f2dfa-63aa-4857-b41e-bc4f9860c8e3","block_type":"box","text":"Alternatives strategies as set out in the","page_number":156,"box":{"x":68,"y":895,"width":287,"height":11}},{"id":"3cd3e329-8ada-40ce-ba3e-e86a1137c292","block_type":"box","text":"“Core Investment” section above","page_number":156,"box":{"x":68,"y":907,"width":241,"height":9}},{"id":"67840f86-4a06-49c8-aabe-3d287a8496ca","block_type":"box","text":"(minimum weight at 0%)","page_number":156,"box":{"x":69,"y":920,"width":177,"height":11}},{"id":"fe39cbd2-b8f0-4049-8ca3-a15dcf2a5e3d","block_type":"box","text":"3.0%","page_number":156,"box":{"x":460,"y":895,"width":37,"height":8}},{"id":"bcdba8e2-8799-4f57-8c62-72d414da246d","block_type":"box","text":"+/-7%","page_number":156,"box":{"x":673,"y":894,"width":43,"height":9}},{"id":"17c1aaad-db38-42e3-9449-ff7435bac46c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":157,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"48974fc4-1c5f-4c46-b221-365dc610bfec","block_type":"box","text":"157","page_number":157,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"a1365c71-630d-49e9-a632-22b35f02b6ca","block_type":"box","text":"Aviva Investors: Confidential","page_number":157,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d76eed2a-3a3a-4ca4-aeb9-7f022387f6ec","block_type":"box","text":"Cash (minimum weight at 0%)**","page_number":157,"box":{"x":68,"y":56,"width":236,"height":11}},{"id":"c5f72cd1-d17d-46ea-bdab-3b5679fb6f86","block_type":"box","text":"1.5%","page_number":157,"box":{"x":461,"y":56,"width":36,"height":9}},{"id":"8218c961-d4c4-417d-a6df-4efed732f68a","block_type":"box","text":"+/-7%","page_number":157,"box":{"x":673,"y":56,"width":43,"height":9}},{"id":"61cca960-c569-48de-bb9f-90ec4e3dc23d","block_type":"box","text":"* The permitted range shall include the market value of any options but shall exclude the notional (and, as relevant,","page_number":157,"box":{"x":62,"y":78,"width":860,"height":11}},{"id":"c6eb6c9c-81c2-48a8-bd96-2e9ef79ba122","block_type":"box","text":"the delta-adjusted notional) exposure.","page_number":157,"box":{"x":62,"y":92,"width":279,"height":11}},{"id":"9c2334aa-25b1-4abe-9745-47f4c69b8ccb","block_type":"box","text":"** The permitted range shall not include any permitted borrowing or cash held specifically to cover exposures arising","page_number":157,"box":{"x":62,"y":111,"width":860,"height":12}},{"id":"e1b99265-ab08-468d-9265-62ba7e312dfa","block_type":"box","text":"from derivative transactions.","page_number":157,"box":{"x":62,"y":125,"width":208,"height":9}},{"id":"3f4009f1-34d0-4a73-9521-447594c0efe2","block_type":"box","text":"*** Equity and fixed income exposures shall be allocated to one of the sub-asset class components set out in the","page_number":157,"box":{"x":62,"y":145,"width":861,"height":11}},{"id":"f0515350-3233-4b12-851b-735e70e0bed7","block_type":"box","text":"“Performance & Risk Measurement” section below in accordance with the methodology of the corresponding","page_number":157,"box":{"x":62,"y":158,"width":860,"height":12}},{"id":"5f41aeff-3345-4684-936d-4613d5b230fd","block_type":"box","text":"benchmark index.","page_number":157,"box":{"x":62,"y":172,"width":130,"height":9}},{"id":"f0b21cfa-0158-4f1c-88d3-f50a66496259","block_type":"box","text":"Should exposures fall outside of these ranges, in the case of Equities, Fixed Income and Alternatives, the Investment","page_number":157,"box":{"x":62,"y":191,"width":861,"height":12}},{"id":"9cefae84-0f8f-4a99-82e9-1c513639f13a","block_type":"box","text":"Manager will bring the portfolio back in line with the relevant range prior to the end of calendar month following the","page_number":157,"box":{"x":63,"y":205,"width":859,"height":11}},{"id":"8719e8ab-afe1-4df4-8d2d-5bf192be795e","block_type":"box","text":"calendar month in which the range was exceeded. In the case of Cash, the Investment Manager will bring the portfolio","page_number":157,"box":{"x":62,"y":219,"width":861,"height":11}},{"id":"a92ccb5e-69ca-4099-8c41-0b88092eae71","block_type":"box","text":"back in line with the range as soon as possible.","page_number":157,"box":{"x":62,"y":233,"width":349,"height":11}},{"id":"4ecfcd5e-2de8-4d9c-b9d5-892ccd873506","block_type":"box","text":"Notwithstanding the permitted ranges above which illustrate typical exposure to the overall and sub-asset class","page_number":157,"box":{"x":63,"y":252,"width":860,"height":11}},{"id":"8322d44d-f4c4-4920-bfe9-6995171ec6e0","block_type":"box","text":"components, the Sub-fund will ultimately be managed in accordance with the requirements of the Investment","page_number":157,"box":{"x":62,"y":266,"width":861,"height":11}},{"id":"aa7fc559-e63f-47d2-b24f-0a6c7043ec3f","block_type":"box","text":"Association Mixed Investment 40-85% Shares sector, and accordingly shall invest between 40% and 85% in the","page_number":157,"box":{"x":62,"y":279,"width":861,"height":12}},{"id":"f4045a8e-88a7-4339-9ba9-18a383573580","block_type":"box","text":"shares of companies (including convertibles), directly or through other funds.","page_number":157,"box":{"x":62,"y":293,"width":566,"height":11}},{"id":"bb07d84d-e19d-4145-a6c7-e6014014345b","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":157,"box":{"x":62,"y":313,"width":527,"height":11}},{"id":"c7c97d73-6b1f-4e28-82ef-746628b24772","block_type":"box","text":"please see Appendix 2 for information on","page_number":157,"box":{"x":594,"y":313,"width":328,"height":11}},{"id":"d107d44a-3ef3-4ee2-9b4f-bd7c23203733","block_type":"box","text":"these limited investment restrictions.","page_number":157,"box":{"x":62,"y":326,"width":295,"height":9}},{"id":"2f7953a2-cde2-497b-87f5-cc3c9842d67d","block_type":"box","text":"Performance & Risk Measurement:","page_number":157,"box":{"x":63,"y":348,"width":275,"height":9}},{"id":"d8f7ebd3-eae6-4597-83b2-32d1b379cd3e","block_type":"box","text":"The Composite Benchmark Index referred to above is made up of the following underlying benchmarks, reflecting the","page_number":157,"box":{"x":62,"y":370,"width":861,"height":11}},{"id":"edaae382-5dd5-4b42-b9ec-e6d1996c62ae","block_type":"box","text":"overall and sub-asset class components comprising the SAA:","page_number":157,"box":{"x":62,"y":384,"width":453,"height":11}},{"id":"39812f6e-f10f-439d-b166-ebd235dd6a74","block_type":"box","text":"Asset Class and Sub","page_number":157,"box":{"x":72,"y":423,"width":171,"height":9}},{"id":"4c65d742-9ed8-4657-badc-593844872d29","block_type":"box","text":"Asset Class","page_number":157,"box":{"x":72,"y":436,"width":94,"height":9}},{"id":"1e1559d2-0f28-4351-a8c6-65eda3a217d6","block_type":"box","text":"Components","page_number":157,"box":{"x":72,"y":449,"width":101,"height":11}},{"id":"aeac4589-ce72-4308-89b3-815cf1c700fb","block_type":"box","text":"Weight (% of","page_number":157,"box":{"x":316,"y":423,"width":101,"height":11}},{"id":"74b1f9ac-f7f6-4b8a-b430-909608e66c25","block_type":"box","text":"Composite Benchmark","page_number":157,"box":{"x":276,"y":436,"width":182,"height":11}},{"id":"66eff5d4-1999-4223-acb2-923cde592316","block_type":"box","text":"Index)","page_number":157,"box":{"x":343,"y":449,"width":48,"height":11}},{"id":"9f2c2603-8a6d-465e-879e-00edac59a61d","block_type":"box","text":"Indices","page_number":157,"box":{"x":587,"y":423,"width":56,"height":9}},{"id":"551c7331-4a7a-4576-a9ca-3c3b9413362e","block_type":"box","text":"Equities","page_number":157,"box":{"x":73,"y":466,"width":63,"height":11}},{"id":"39932dcd-67cd-498f-b882-124688297939","block_type":"box","text":"69.0%","page_number":157,"box":{"x":343,"y":466,"width":47,"height":8}},{"id":"d198735c-c13e-4e4c-9f0e-15267aa59277","block_type":"box","text":"Global Equities","page_number":157,"box":{"x":72,"y":485,"width":111,"height":11}},{"id":"5cfb790f-c9e0-474c-a274-659806b49e53","block_type":"box","text":"22.0%","page_number":157,"box":{"x":343,"y":485,"width":47,"height":9}},{"id":"3de8c2c0-f252-4614-bd2a-a7fa06c54a7f","block_type":"box","text":"MSCI All Country World Index (Total","page_number":157,"box":{"x":481,"y":485,"width":268,"height":11}},{"id":"27e0f1fe-ef08-42d3-a063-fc39b62381ce","block_type":"box","text":"return, GBP)","page_number":157,"box":{"x":569,"y":498,"width":91,"height":11}},{"id":"434e98c1-6391-4e5a-abd0-35303dd790ce","block_type":"box","text":"US Equities","page_number":157,"box":{"x":73,"y":515,"width":85,"height":11}},{"id":"03decdda-1ad1-48eb-a645-19c06913cbfb","block_type":"box","text":"10.0%","page_number":157,"box":{"x":345,"y":516,"width":45,"height":8}},{"id":"02c6e2ea-bd69-48f3-94c8-a1320668972a","block_type":"box","text":"FTSE World North America Index (Total","page_number":157,"box":{"x":468,"y":515,"width":294,"height":11}},{"id":"d8b3b207-4439-4e96-86ac-3955ce783377","block_type":"box","text":"Return)","page_number":157,"box":{"x":588,"y":529,"width":53,"height":11}},{"id":"cc75f430-e895-47ab-8197-dc6f8a417747","block_type":"box","text":"UK Equities","page_number":157,"box":{"x":73,"y":546,"width":85,"height":11}},{"id":"2f6daf1d-8631-480d-939a-edf2a5e91bce","block_type":"box","text":"21.5%","page_number":157,"box":{"x":343,"y":546,"width":47,"height":9}},{"id":"1474cbbc-d708-4c00-b6ba-b48305bed963","block_type":"box","text":"FTSE All-Share Index","page_number":157,"box":{"x":535,"y":546,"width":160,"height":9}},{"id":"d0e53637-1d8a-4141-9a0e-537cf5cd8a84","block_type":"box","text":"Europe ex UK Equities","page_number":157,"box":{"x":73,"y":565,"width":167,"height":11}},{"id":"8fbebd37-f14c-42f7-88e7-db57889b4391","block_type":"box","text":"8.0%","page_number":157,"box":{"x":348,"y":565,"width":37,"height":9}},{"id":"99b8e7be-5081-4b21-b82e-c4bcefcbf1c7","block_type":"box","text":"FTSE World Europe ex UK Index (Total","page_number":157,"box":{"x":469,"y":565,"width":292,"height":11}},{"id":"303d959f-2d28-4d0e-9fdd-6b7c90cad0f0","block_type":"box","text":"Return)","page_number":157,"box":{"x":588,"y":578,"width":53,"height":11}},{"id":"960bb918-c8b8-4272-9a41-ffa7d00663d3","block_type":"box","text":"Japan Equities","page_number":157,"box":{"x":72,"y":596,"width":109,"height":11}},{"id":"3726d9a3-436b-4084-bc88-124d39781e1f","block_type":"box","text":"2.5%","page_number":157,"box":{"x":348,"y":596,"width":37,"height":8}},{"id":"5014da9a-7470-4de7-bec2-5c2c5cc4e690","block_type":"box","text":"FTSE Japan Index (Total Return)","page_number":157,"box":{"x":492,"y":595,"width":245,"height":12}},{"id":"361cb5c4-297d-4b52-a1f7-3f8247d949e6","block_type":"box","text":"Pacific ex Japan Equities","page_number":157,"box":{"x":73,"y":615,"width":184,"height":11}},{"id":"830c935e-6626-4381-9ee4-be5746f41359","block_type":"box","text":"3.0%","page_number":157,"box":{"x":348,"y":615,"width":37,"height":9}},{"id":"d945b848-d3fa-4ff1-b6cf-47efccfa22f5","block_type":"box","text":"MSCI Pacific ex Japan Index (Total","page_number":157,"box":{"x":485,"y":615,"width":260,"height":11}},{"id":"520421eb-df53-4b21-9ee9-4f8cee4816fe","block_type":"box","text":"Return)","page_number":157,"box":{"x":588,"y":628,"width":53,"height":11}},{"id":"d5939d9a-491e-4784-bb67-d80e4c71c920","block_type":"box","text":"Emerging Equities","page_number":157,"box":{"x":73,"y":645,"width":134,"height":12}},{"id":"31a5bb45-6389-4424-ad6d-f59594f8292c","block_type":"box","text":"2.0%","page_number":157,"box":{"x":348,"y":645,"width":37,"height":9}},{"id":"c11f1474-d8bc-4374-9102-1ee3fc47ce04","block_type":"box","text":"MSCI Emerging Markets Index (Total","page_number":157,"box":{"x":478,"y":645,"width":274,"height":11}},{"id":"783d3cfe-bfe9-4484-b121-62746549c0f5","block_type":"box","text":"Return)","page_number":157,"box":{"x":588,"y":658,"width":53,"height":11}},{"id":"a1b1b47b-eefa-4b6e-b90e-03c290a8e688","block_type":"box","text":"Fixed Income","page_number":157,"box":{"x":73,"y":676,"width":105,"height":8}},{"id":"ebee1ae4-2040-4d61-bb2c-3a3bac1be9d1","block_type":"box","text":"26.5%","page_number":157,"box":{"x":343,"y":675,"width":47,"height":8}},{"id":"4702b7df-4399-4021-a852-90df5bc2a75e","block_type":"box","text":"Global Government Bonds","page_number":157,"box":{"x":72,"y":695,"width":196,"height":9}},{"id":"f61adf6e-7c3e-4227-802f-b30dec8d8d48","block_type":"box","text":"7.0%","page_number":157,"box":{"x":348,"y":694,"width":37,"height":8}},{"id":"3434f81a-5b68-4705-9621-b35be5582728","block_type":"box","text":"Bloomberg Global Treasury Total Return","page_number":157,"box":{"x":465,"y":694,"width":300,"height":11}},{"id":"e15a9507-8a5c-43a5-b5ca-84fb7a4fba91","block_type":"box","text":"Index Hedged to GBP","page_number":157,"box":{"x":534,"y":710,"width":162,"height":11}},{"id":"41f5f494-80c6-4376-93b2-28895db630c8","block_type":"box","text":"UK Government Bonds","page_number":157,"box":{"x":73,"y":727,"width":170,"height":9}},{"id":"9e5f8308-c0ae-41d7-b46c-eb6b33ac4f47","block_type":"box","text":"4.5%","page_number":157,"box":{"x":348,"y":726,"width":37,"height":9}},{"id":"8dde900b-dbde-46aa-9da7-b6f9d291314b","block_type":"box","text":"FTSE Actuaries UK Conventional Gilts","page_number":157,"box":{"x":473,"y":726,"width":284,"height":9}},{"id":"85b24f5a-4bd4-4671-b77e-598fa3256c65","block_type":"box","text":"All Stocks Index (Total Return)","page_number":157,"box":{"x":501,"y":742,"width":226,"height":11}},{"id":"b844acc7-dbed-4004-b701-74cfc99f5294","block_type":"box","text":"Global Investment Grade","page_number":157,"box":{"x":72,"y":760,"width":185,"height":9}},{"id":"f98ef2ca-2e4c-43a3-a23a-54e055bc1f42","block_type":"box","text":"Corporate Bonds","page_number":157,"box":{"x":72,"y":772,"width":125,"height":12}},{"id":"47c530ed-810e-4ff9-be7a-8842f736a9fb","block_type":"box","text":"5.0%","page_number":157,"box":{"x":348,"y":759,"width":37,"height":8}},{"id":"e693911e-3085-44c0-b968-17ad338cd148","block_type":"box","text":"Bloomberg Global Aggregate Corporate","page_number":157,"box":{"x":468,"y":758,"width":294,"height":12}},{"id":"4a2ce1aa-f7e4-4d33-8cea-9e61e75a75ef","block_type":"box","text":"Total Return Index Hedged to GBP","page_number":157,"box":{"x":485,"y":774,"width":259,"height":12}},{"id":"0e281d3c-e3c5-40b0-a061-edbc88c63085","block_type":"box","text":"UK Investment Grade","page_number":157,"box":{"x":73,"y":792,"width":159,"height":9}},{"id":"3b24039d-af43-43df-98ea-9706870a0ab6","block_type":"box","text":"Corporate Bonds","page_number":157,"box":{"x":72,"y":805,"width":125,"height":11}},{"id":"d9129843-495e-48df-8663-96eef13bfc95","block_type":"box","text":"4.0%","page_number":157,"box":{"x":348,"y":791,"width":37,"height":9}},{"id":"dabdb126-e788-4f5c-a7b9-e9cd21073b49","block_type":"box","text":"iBoxx GBP Non-Gilts All Stocks Index","page_number":157,"box":{"x":476,"y":791,"width":278,"height":9}},{"id":"21f8c07d-fbb7-4ae4-a760-b382ef0e2889","block_type":"box","text":"(Total Return)","page_number":157,"box":{"x":564,"y":807,"width":101,"height":11}},{"id":"8a2882a4-f8de-4b5e-ae7c-26b1bd910cae","block_type":"box","text":"Global High Yield","page_number":157,"box":{"x":72,"y":825,"width":128,"height":11}},{"id":"5f6f10f5-c5c8-4fed-939f-2b268ab6a728","block_type":"box","text":"1.5%","page_number":157,"box":{"x":349,"y":824,"width":36,"height":8}},{"id":"38f55c80-a512-4ec4-9c87-dd4ff0844cac","block_type":"box","text":"Bloomberg Global High Yield Index","page_number":157,"box":{"x":485,"y":823,"width":260,"height":12}},{"id":"d9ab6d0d-fa7a-40c7-8c0c-76e982606080","block_type":"box","text":"Hedged to GBP","page_number":157,"box":{"x":557,"y":839,"width":116,"height":11}},{"id":"768b113f-578b-4374-bcf5-f5dd79953636","block_type":"box","text":"Emerging Market Debt","page_number":157,"box":{"x":73,"y":857,"width":166,"height":11}},{"id":"904aae35-5e98-4244-be00-244128ea41a1","block_type":"box","text":"Local Currency","page_number":157,"box":{"x":73,"y":870,"width":111,"height":11}},{"id":"47bf78b4-dd5b-4c49-ab5e-8119c0082b17","block_type":"box","text":"1.5%","page_number":157,"box":{"x":349,"y":856,"width":36,"height":9}},{"id":"0b969fc3-9bea-4c2b-af6a-c74268801fdc","block_type":"box","text":"JP Morgan Government Bond Index –","page_number":157,"box":{"x":474,"y":856,"width":282,"height":11}},{"id":"131dae0d-02ac-442c-8127-30c42cb9d501","block_type":"box","text":"Emerging Markets (GBI-EM) Global","page_number":157,"box":{"x":484,"y":872,"width":262,"height":11}},{"id":"0fbad121-1abf-4730-87b3-976e4979f553","block_type":"box","text":"Diversified","page_number":157,"box":{"x":577,"y":888,"width":76,"height":8}},{"id":"b9bf7fc0-861f-4c70-b8e8-4be7b3dc0078","block_type":"box","text":"Emerging Market Debt","page_number":157,"box":{"x":73,"y":906,"width":166,"height":11}},{"id":"b650df8f-c202-4637-aaae-6e0e7ca0541a","block_type":"box","text":"Hard Currency","page_number":157,"box":{"x":73,"y":918,"width":107,"height":11}},{"id":"f52be530-dc9a-4d76-b153-5b06a4d420ce","block_type":"box","text":"3.0%","page_number":157,"box":{"x":348,"y":904,"width":37,"height":9}},{"id":"dc773de5-9712-4bfd-9754-a1c4b2fafc49","block_type":"box","text":"JP Morgan Emerging Markets Bond","page_number":157,"box":{"x":482,"y":904,"width":265,"height":11}},{"id":"d7265d0b-8dc1-4083-8c49-3c8bc02c27ee","block_type":"box","text":"Index (EMBI) Global Hedged to GBP","page_number":157,"box":{"x":480,"y":920,"width":271,"height":11}},{"id":"7f6fe8c8-5a1a-4949-9dd2-25eecd66e948","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":158,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"7a1217de-d355-4774-a3d8-6a22f0d8a4eb","block_type":"box","text":"158","page_number":158,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"fa0b120f-f4bb-4a05-a00f-5aabcbb002c6","block_type":"box","text":"Aviva Investors: Confidential","page_number":158,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"b9bfeeca-fce3-4540-9091-91a20167a7aa","block_type":"box","text":"(Total Return)","page_number":158,"box":{"x":564,"y":55,"width":101,"height":11}},{"id":"9cb58130-a7cd-45ac-b64e-756bea182dd2","block_type":"box","text":"Alternatives","page_number":158,"box":{"x":72,"y":75,"width":95,"height":9}},{"id":"7adfaba4-a01f-4b0d-aa8e-99105fbcbdbf","block_type":"box","text":"3.0%","page_number":158,"box":{"x":348,"y":74,"width":37,"height":9}},{"id":"4782110e-d65e-4817-9ac1-1102b221e243","block_type":"box","text":"Alternative strategies as","page_number":158,"box":{"x":71,"y":95,"width":179,"height":11}},{"id":"9cd9b4ea-675f-4fae-8ef8-34f6a9d47137","block_type":"box","text":"set out in the “Core","page_number":158,"box":{"x":72,"y":107,"width":141,"height":9}},{"id":"46a46b83-26ea-4e2f-bd78-e2b3c247fa3d","block_type":"box","text":"investment” section above","page_number":158,"box":{"x":72,"y":120,"width":194,"height":9}},{"id":"12c352f0-05a6-47df-89d3-db2327d74c10","block_type":"box","text":"3.0%","page_number":158,"box":{"x":348,"y":94,"width":37,"height":8}},{"id":"93cb9158-c9dd-41d3-8e37-17c1d7031d8c","block_type":"box","text":"Sterling Overnight Index Average","page_number":158,"box":{"x":492,"y":92,"width":245,"height":11}},{"id":"21b1723d-2c9f-4401-91d4-788247adf5c8","block_type":"box","text":"(SONIA) + 3%","page_number":158,"box":{"x":562,"y":105,"width":105,"height":11}},{"id":"9cd6d680-490e-4c1a-884b-df85a1abd4ca","block_type":"box","text":"Cash","page_number":158,"box":{"x":72,"y":137,"width":39,"height":9}},{"id":"ceed5f07-1c95-43bb-9001-1ee3da426100","block_type":"box","text":"1.5%","page_number":158,"box":{"x":349,"y":136,"width":36,"height":9}},{"id":"7ff462c2-08d4-416d-8426-076cf6b51273","block_type":"box","text":"SONIA","page_number":158,"box":{"x":589,"y":136,"width":51,"height":9}},{"id":"0c6adff8-31a9-4aa2-a9c8-7c67300a5329","block_type":"box","text":"The Sub-Fund’s return target is measured against the Composite Benchmark Index over a rolling 5-year period,","page_number":158,"box":{"x":62,"y":167,"width":860,"height":11}},{"id":"bebc664a-1eed-4ba3-b9ae-43819d860539","block_type":"box","text":"before the deduction of charges and taxes.","page_number":158,"box":{"x":62,"y":181,"width":316,"height":11}},{"id":"3e2a0240-144e-445c-a5c0-6bb7bd94a9c1","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund's returns and the returns of","page_number":158,"box":{"x":62,"y":208,"width":861,"height":11}},{"id":"49e34949-d533-400b-8545-2dabb7c39e35","block_type":"box","text":"the Composite Benchmark Index. In general, the lower the tracking error, the more consistent the Fund’s returns are","page_number":158,"box":{"x":62,"y":222,"width":861,"height":11}},{"id":"f29567f1-19c9-491f-a458-3b541e4bc320","block_type":"box","text":"relative to the Composite Benchmark Index, and vice-versa. The Sub-Fund is expected to have an average yearly","page_number":158,"box":{"x":63,"y":235,"width":860,"height":12}},{"id":"a8d441ab-95b8-4e35-a7a0-d58989e97853","block_type":"box","text":"tracking error of between 1.25% and 4.50% when compared to the Composite Benchmark Index excluding charges","page_number":158,"box":{"x":62,"y":249,"width":860,"height":11}},{"id":"98b442af-37ef-4389-896c-c1131c10ba9f","block_type":"box","text":"and taxes. However, there may be times when the Sub-Fund operates outside of this range.","page_number":158,"box":{"x":62,"y":263,"width":685,"height":11}},{"id":"3b7d4fba-f277-478e-b85f-0d1f568d69cb","block_type":"box","text":"The Composite Benchmark Index has been selected as a target benchmark for performance and risk measurement","page_number":158,"box":{"x":62,"y":290,"width":861,"height":11}},{"id":"ba1bcbcc-6f2e-486f-819f-53eab6cbc9c1","block_type":"box","text":"because it is representative of the Sub-Fund’s SAA from which active risk decisions are based. It is therefore an","page_number":158,"box":{"x":62,"y":304,"width":860,"height":11}},{"id":"d7ab1326-3b08-418e-8b30-4a0d2de50093","block_type":"box","text":"appropriate measure for the Sub-Fund’s performance. For the purposes of calculating performance, the Composite","page_number":158,"box":{"x":62,"y":317,"width":861,"height":12}},{"id":"d3e57c59-6ed0-4081-82b6-65186104cb19","block_type":"box","text":"Benchmark Index is re-balanced as at the end of each month.","page_number":158,"box":{"x":63,"y":331,"width":455,"height":9}},{"id":"8da13e17-408c-401e-8e67-efda4e7fbffb","block_type":"box","text":"Operation of the SAA and permitted ranges means the Sub-Fund may not have exposure to each overall asset class","page_number":158,"box":{"x":62,"y":358,"width":861,"height":12}},{"id":"ca85347d-1025-49c4-931c-4c481e4fcf78","block_type":"box","text":"or sub-asset class component and will not have exposure to every asset comprising the Composite Benchmark Index.","page_number":158,"box":{"x":62,"y":372,"width":860,"height":11}},{"id":"5db841d2-38f9-4162-9717-4818e3a18c7a","block_type":"box","text":"Equally the Sub-Fund may also have exposure to assets that do not form part of it. The Sub-Fund’s returns could","page_number":158,"box":{"x":63,"y":386,"width":860,"height":11}},{"id":"dd54c283-9faf-4f69-b8df-bef21f9eb33f","block_type":"box","text":"therefore be different from those of the Composite Benchmark Index.","page_number":158,"box":{"x":62,"y":399,"width":510,"height":11}},{"id":"006f719f-10e6-4672-a08f-c7c814544da5","block_type":"box","text":"Additional Information","page_number":158,"box":{"x":62,"y":439,"width":177,"height":8}},{"id":"02f672f1-87f4-4c8b-a785-3aed31a6b396","block_type":"box","text":"Investment Manager","page_number":158,"box":{"x":118,"y":465,"width":151,"height":11}},{"id":"dc1efe08-72aa-4261-808f-950c9212c2ef","block_type":"box","text":"Schroder Investment Management Limited","page_number":158,"box":{"x":353,"y":465,"width":315,"height":11}},{"id":"058f57c1-b399-41e9-9e08-3e3a731741aa","block_type":"box","text":"Type of Units","page_number":158,"box":{"x":116,"y":491,"width":98,"height":11}},{"id":"e3132622-2245-4949-8164-b3a72ac75f48","block_type":"box","text":"Insured Pension Income Distribution Units","page_number":158,"box":{"x":354,"y":491,"width":310,"height":9}},{"id":"eae8ee9e-5443-44ef-a12a-78632feaffe3","block_type":"box","text":"UK Corporate Accumulation Units","page_number":158,"box":{"x":353,"y":517,"width":250,"height":11}},{"id":"7a6d3671-f2fd-4e20-a87c-b221f0fb8f7b","block_type":"box","text":"Dealing Day","page_number":158,"box":{"x":118,"y":543,"width":89,"height":11}},{"id":"f1735370-c46b-409f-9797-3097fbcfd6b7","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":158,"box":{"x":354,"y":543,"width":393,"height":11}},{"id":"32ef7706-4cc6-439d-86cb-3863446ef84b","block_type":"box","text":"Deal Cut-Off Point","page_number":158,"box":{"x":118,"y":569,"width":134,"height":9}},{"id":"d7a30ba6-2831-4ddd-a497-f8c52f466f90","block_type":"box","text":"1.00 p.m.","page_number":158,"box":{"x":354,"y":570,"width":66,"height":10}},{"id":"dc4189e2-19b1-4f1e-a53c-75f3bd33536c","block_type":"box","text":"Valuation Point","page_number":158,"box":{"x":117,"y":595,"width":112,"height":9}},{"id":"7abe0de2-d533-4b2e-bfc1-1aacd66d3552","block_type":"box","text":"3.00 p.m.","page_number":158,"box":{"x":353,"y":596,"width":67,"height":10}},{"id":"5d982efa-c88d-412a-ac5f-3391915058ac","block_type":"box","text":"*Minimum Investment","page_number":158,"box":{"x":117,"y":621,"width":172,"height":9}},{"id":"32c3ebde-9312-4680-85b5-60ad2b6147de","block_type":"box","text":"Insured Pension Income","page_number":158,"box":{"x":118,"y":648,"width":179,"height":8}},{"id":"efa0d046-8923-44cc-abb6-f885e824417e","block_type":"box","text":"Distribution Units, UK","page_number":158,"box":{"x":118,"y":661,"width":158,"height":10}},{"id":"eca558cb-6dc5-4518-a474-4b1574407f12","block_type":"box","text":"Corporate Accumulation","page_number":158,"box":{"x":117,"y":675,"width":178,"height":11}},{"id":"fcd64028-00ad-4644-8a43-4ede8545e36a","block_type":"box","text":"Units","page_number":158,"box":{"x":118,"y":689,"width":36,"height":8}},{"id":"a02dab42-65cf-4971-9379-ed8784fbf39c","block_type":"box","text":"No minimum","page_number":158,"box":{"x":353,"y":648,"width":92,"height":8}},{"id":"a0599405-13b4-4e19-abba-f621c48a0738","block_type":"box","text":"Minimum withdrawal","page_number":158,"box":{"x":117,"y":715,"width":150,"height":8}},{"id":"f21790ac-f376-475f-b2e7-01f6462b483a","block_type":"box","text":"No minimum","page_number":158,"box":{"x":353,"y":715,"width":92,"height":8}},{"id":"17a9b0ff-c211-4f35-a4d3-5698d0e6230f","block_type":"box","text":"Tax Criteria for investment","page_number":158,"box":{"x":116,"y":741,"width":213,"height":9}},{"id":"973ec9aa-9b6d-4684-b12c-d7619c385c17","block_type":"box","text":"Insured Pension Income","page_number":158,"box":{"x":118,"y":767,"width":179,"height":9}},{"id":"f0c3e37f-ef87-45f3-9355-c40ab66d6505","block_type":"box","text":"Distribution Units","page_number":158,"box":{"x":118,"y":781,"width":124,"height":8}},{"id":"71eccfec-6b7f-4534-a51c-0440b30419a9","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":158,"box":{"x":352,"y":767,"width":404,"height":11}},{"id":"7c9bf0cf-6c12-430f-ab35-c8b4f0694b15","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":158,"box":{"x":353,"y":780,"width":404,"height":11}},{"id":"52fc44bc-0158-44c6-bf24-a40309609c75","block_type":"box","text":"back exclusively its unit linked pension business","page_number":158,"box":{"x":353,"y":794,"width":404,"height":11}},{"id":"05755743-c9b1-4be8-8f28-36822ec92ec7","block_type":"box","text":"contracts and (iii) the policyholders.","page_number":158,"box":{"x":353,"y":808,"width":261,"height":11}},{"id":"c4c8a269-923f-428f-965c-391ea2e809e7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":159,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"b6df2a80-d61b-479f-ad8a-31c68e83b6cd","block_type":"box","text":"159","page_number":159,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"e66b62c4-dee2-4ebe-9d5a-76dda40ab249","block_type":"box","text":"Aviva Investors: Confidential","page_number":159,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"30c15691-da32-4145-850b-819bb54c7b84","block_type":"box","text":"UK Corporate Accumulation","page_number":159,"box":{"x":118,"y":59,"width":215,"height":11}},{"id":"56fb8d2f-b994-4137-8d0c-559c98cc921b","block_type":"box","text":"Units","page_number":159,"box":{"x":118,"y":73,"width":36,"height":9}},{"id":"f32b571e-b40b-4ef1-a6cc-d96ed6a1d4ed","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":159,"box":{"x":352,"y":59,"width":404,"height":11}},{"id":"e5f7d2d2-49fa-4fcf-b784-abc0d09201c7","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":159,"box":{"x":353,"y":73,"width":404,"height":11}},{"id":"c1f74f0b-89ba-482c-88b6-a4b4ed60178d","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":159,"box":{"x":352,"y":86,"width":405,"height":12}},{"id":"7238ba0b-192e-4b0c-908a-59f28bd85d77","block_type":"box","text":"linked pension business contracts and (iii) the","page_number":159,"box":{"x":353,"y":100,"width":403,"height":11}},{"id":"c28f8690-40f1-451b-959b-39c9c98f53e2","block_type":"box","text":"policyholders of which are resident for the purposes of","page_number":159,"box":{"x":353,"y":114,"width":404,"height":11}},{"id":"5da4844f-74df-47cf-96c8-8911f7ae193c","block_type":"box","text":"tax in the UK","page_number":159,"box":{"x":352,"y":128,"width":96,"height":8}},{"id":"61962439-b928-40b4-a6cd-0d58b6dd51c7","block_type":"box","text":"**Current Charges:","page_number":159,"box":{"x":117,"y":153,"width":149,"height":12}},{"id":"11ac0d13-967a-46df-a7e2-7a685306b286","block_type":"box","text":"Insured Pension Income","page_number":159,"box":{"x":118,"y":180,"width":179,"height":8}},{"id":"ac1e32bd-acd1-4971-b903-e4e1c22759cc","block_type":"box","text":"Distribution Units, UK","page_number":159,"box":{"x":118,"y":193,"width":158,"height":11}},{"id":"7c0b2a34-181e-4b39-ab40-36f117612ad8","block_type":"box","text":"Corporate Accumulation","page_number":159,"box":{"x":117,"y":207,"width":178,"height":11}},{"id":"f2eeb02d-aa6a-4929-8faf-eb7cf192dbda","block_type":"box","text":"Units","page_number":159,"box":{"x":118,"y":221,"width":36,"height":8}},{"id":"f30f5838-3a88-426e-9a72-38c27479ebd4","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":159,"box":{"x":352,"y":179,"width":404,"height":12}},{"id":"e67410db-c3f4-493d-927d-968a7e30c0c0","block_type":"box","text":"Unitholder","page_number":159,"box":{"x":353,"y":193,"width":75,"height":9}},{"id":"2ecaa491-36e0-499e-8ec9-8290e0468c66","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":159,"box":{"x":352,"y":213,"width":404,"height":11}},{"id":"cc17136d-dc32-44a9-a740-fd5ba99a3e6b","block_type":"box","text":"property","page_number":159,"box":{"x":353,"y":227,"width":60,"height":11}},{"id":"918957d8-6d03-4db0-a107-7ffafbb0dddf","block_type":"box","text":"Accounting Dates","page_number":159,"box":{"x":117,"y":272,"width":141,"height":11}},{"id":"06b94aa1-38c5-4fe0-8891-b120b6abb806","block_type":"box","text":"Annual Accounting Date","page_number":159,"box":{"x":116,"y":299,"width":180,"height":11}},{"id":"1517b54b-3e1a-4aac-a93d-c0ad73a7927c","block_type":"box","text":"31 December","page_number":159,"box":{"x":353,"y":299,"width":100,"height":8}},{"id":"a94b054d-ecea-48b5-980a-6a6ca055873d","block_type":"box","text":"First Accounting Date","page_number":159,"box":{"x":118,"y":325,"width":158,"height":11}},{"id":"8c4b745d-c073-46ef-9075-200014612f62","block_type":"box","text":"31 December 2015","page_number":159,"box":{"x":353,"y":325,"width":141,"height":8}},{"id":"b75cead1-523e-4bb1-a3f2-c5ce450d2430","block_type":"box","text":"Annual Income Allocation","page_number":159,"box":{"x":116,"y":351,"width":188,"height":8}},{"id":"aee00878-38e6-4e83-9a12-98798f65bb64","block_type":"box","text":"Date","page_number":159,"box":{"x":118,"y":364,"width":33,"height":9}},{"id":"13cabfa1-1094-422f-b02b-2c60874ceb88","block_type":"box","text":"On or before 28 /29 February","page_number":159,"box":{"x":353,"y":350,"width":217,"height":12}},{"id":"c1185123-70a6-4844-ae68-84393d021e4a","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":159,"box":{"x":118,"y":391,"width":293,"height":11}},{"id":"f5d2fbea-c598-4d89-a10f-85703c771373","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":159,"box":{"x":62,"y":442,"width":861,"height":12}},{"id":"bc6ab49a-a716-4ae0-9129-672c36ff0bd9","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":159,"box":{"x":62,"y":456,"width":408,"height":12}},{"id":"3faae202-428a-41d2-838f-f51ea2dc0734","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":159,"box":{"x":62,"y":476,"width":642,"height":11}},{"id":"7251fb13-f965-45bc-8f73-bd235bc6d868","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":159,"box":{"x":62,"y":495,"width":860,"height":12}},{"id":"ee828e07-1dcd-47c4-9d3d-0d5081ff7592","block_type":"box","text":"this Prospectus.","page_number":159,"box":{"x":62,"y":509,"width":117,"height":11}},{"id":"23bae598-5301-44f1-abd5-e5af67990372","block_type":"box","text":"□","page_number":159,"box":{"x":62,"y":530,"width":5,"height":4}},{"id":"c8b36167-a35c-449a-934d-23c938b2e932","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":159,"box":{"x":74,"y":529,"width":342,"height":9}},{"id":"9afd0de4-f25c-4b38-b2aa-ce605175c300","block_type":"box","text":"Securities Financing and other Transactions:","page_number":159,"box":{"x":62,"y":568,"width":358,"height":11}},{"id":"145af529-3dd9-4b19-9f76-869ccc04fb36","block_type":"box","text":"The types of assets which may be subject to TRS are limited to:","page_number":159,"box":{"x":62,"y":588,"width":471,"height":11}},{"id":"a9db19b7-e7a8-4850-a698-91c5e6670aeb","block_type":"box","text":"","page_number":159,"box":{"x":92,"y":619,"width":6,"height":4}},{"id":"fa8456a7-c2ef-41d2-a8f0-34a3f739a7a2","block_type":"box","text":"Equity Securities; and","page_number":159,"box":{"x":123,"y":616,"width":160,"height":11}},{"id":"8a8d70b2-6292-46aa-abb0-fa91ebfc45dd","block_type":"box","text":"","page_number":159,"box":{"x":92,"y":647,"width":6,"height":5}},{"id":"508de448-229b-49f3-9ba3-1618160a938c","block_type":"box","text":"Emerging Market Debt","page_number":159,"box":{"x":123,"y":644,"width":166,"height":12}},{"id":"c2bc1706-cefa-40ba-bfd1-5dc1cf7936a7","block_type":"box","text":"The assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":159,"box":{"x":62,"y":672,"width":769,"height":11}},{"id":"00f65f61-e2f3-4980-a12e-ebe08d909d22","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":159,"box":{"x":62,"y":688,"width":438,"height":11}},{"id":"1a6c9560-b0d4-4250-9097-f25d535ae519","block_type":"box","text":"Given that the Sub-Fund’s assets cannot be described as being ‘subject to’ TRS, the maximum and expected","page_number":159,"box":{"x":62,"y":715,"width":809,"height":11}},{"id":"a7b8bd15-d129-4aad-9d1f-ad2d6e64720e","block_type":"box","text":"percentages of TRS are given as the gross aggregate notional of TRS as a percentage of the NAV.","page_number":159,"box":{"x":62,"y":731,"width":734,"height":11}},{"id":"41864de7-aa95-4c47-9ec6-797e3ae1d97e","block_type":"box","text":"The maximum proportion of the assets of the Sub-Fund which may be subject to TRS, securities lending or repo","page_number":159,"box":{"x":62,"y":758,"width":834,"height":12}},{"id":"573378f9-8fda-4419-9bde-a08a51b3fffa","block_type":"box","text":"transactions is as follows:","page_number":159,"box":{"x":62,"y":774,"width":188,"height":9}},{"id":"d21538cd-9ca9-4fdb-92a2-237435713be5","block_type":"box","text":"Total Return Swaps","page_number":159,"box":{"x":71,"y":811,"width":133,"height":10}},{"id":"41b00e98-1dcd-4500-8527-63e9f0c779a8","block_type":"box","text":"1","page_number":159,"box":{"x":461,"y":811,"width":5,"height":8}},{"id":"f29ac47a-8fb6-42f1-9425-bc5dae9affa1","block_type":"box","text":"2","page_number":159,"box":{"x":468,"y":811,"width":8,"height":8}},{"id":"17d43d3b-3d87-42cc-96d2-86529704ac9f","block_type":"box","text":"%","page_number":159,"box":{"x":477,"y":811,"width":11,"height":8}},{"id":"a83fd8fb-f26c-4898-ae30-73556b97cf9a","block_type":"box","text":"Securities Lending","page_number":159,"box":{"x":72,"y":833,"width":125,"height":10}},{"id":"d0c5dad8-ef33-45c1-ae3d-e08df3d9eab2","block_type":"box","text":"50%","page_number":159,"box":{"x":460,"y":833,"width":28,"height":8}},{"id":"9665d32d-b503-4e11-b638-e046aba6387e","block_type":"box","text":"Repo Transactions","page_number":159,"box":{"x":71,"y":855,"width":125,"height":10}},{"id":"7a3edaf1-c65c-4449-9397-5cb5ec1a9a30","block_type":"box","text":"50%","page_number":159,"box":{"x":460,"y":855,"width":28,"height":8}},{"id":"dd3a277a-b6c3-44da-a00e-7412e5fdfd4e","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":160,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"b7826ddc-50cd-471a-b7d1-7bc87fcda462","block_type":"box","text":"160","page_number":160,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"427568cc-99e2-4c4b-afc6-44d9224bf6da","block_type":"box","text":"Aviva Investors: Confidential","page_number":160,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"73c0422e-5d0d-4fb9-b54b-b3f146697fcf","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":160,"box":{"x":62,"y":53,"width":823,"height":11}},{"id":"2b141796-e40a-4e62-90ae-4558c9aa9f0f","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to TRS, securities lending or","page_number":160,"box":{"x":62,"y":68,"width":828,"height":11}},{"id":"793bb69c-002e-47be-bbfd-6c30ce3cab2c","block_type":"box","text":"repo transactions is as follows:","page_number":160,"box":{"x":63,"y":84,"width":226,"height":11}},{"id":"c2232320-56ec-4e26-bc19-bf66512aa037","block_type":"box","text":"Total Return Swaps","page_number":160,"box":{"x":71,"y":120,"width":133,"height":11}},{"id":"dff0b816-2c9e-4b70-8cdf-1bb7845986ff","block_type":"box","text":"8%","page_number":160,"box":{"x":460,"y":120,"width":20,"height":9}},{"id":"bb6c1cd8-8e95-477b-b635-141b2c903935","block_type":"box","text":"Securities Lending","page_number":160,"box":{"x":72,"y":142,"width":125,"height":11}},{"id":"2eaf08af-01be-42ed-9685-22a5765012fc","block_type":"box","text":"15","page_number":160,"box":{"x":461,"y":142,"width":14,"height":9}},{"id":"10d4376a-c868-4520-abb3-2a3b8516d1a3","block_type":"box","text":"%","page_number":160,"box":{"x":477,"y":143,"width":11,"height":8}},{"id":"18ad67c6-dcc5-4ed4-b86e-1fcedcd318fa","block_type":"box","text":"Repo Transactions","page_number":160,"box":{"x":71,"y":164,"width":125,"height":11}},{"id":"cb453d38-0d1e-422a-beb4-ce71a8feb6ea","block_type":"box","text":"7.5%","page_number":160,"box":{"x":459,"y":164,"width":33,"height":9}},{"id":"1a714c41-ab18-40b6-b6f7-300a073d7684","block_type":"box","text":"The expected proportion of AUM subject to TRS, securities lending or repo transactions is indicative only and,","page_number":160,"box":{"x":62,"y":206,"width":812,"height":11}},{"id":"15daa06e-3f65-49a2-b881-f08f531b7910","block_type":"box","text":"depending on market conditions and the strategies employed, the actual exposure may be outside of that range at","page_number":160,"box":{"x":62,"y":221,"width":845,"height":12}},{"id":"3f36f067-bbc0-48b1-b889-17341f47a80a","block_type":"box","text":"any given point in time. There may be times when there the proportion of AUM subject to TRS, securities lending or","page_number":160,"box":{"x":62,"y":237,"width":854,"height":11}},{"id":"40dcbf3f-c1a6-406f-b5a6-89974b8417e5","block_type":"box","text":"repo transactions is zero.","page_number":160,"box":{"x":63,"y":253,"width":184,"height":11}},{"id":"da7452c9-59bc-4650-a334-7ce5110d1978","block_type":"box","text":"Leverage","page_number":160,"box":{"x":63,"y":300,"width":72,"height":11}},{"id":"e8fb4e14-be8f-43cb-996b-0fffdc27ae8c","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of achieving the investment objective,","page_number":160,"box":{"x":63,"y":320,"width":859,"height":11}},{"id":"2dea51a9-31fa-4a3c-8850-a1410db6cf29","block_type":"box","text":"risk reduction or efficient portfolio management.","page_number":160,"box":{"x":63,"y":333,"width":351,"height":11}},{"id":"16ef137b-e6bf-4565-8219-3e5795cc86f0","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":160,"box":{"x":62,"y":366,"width":860,"height":12}},{"id":"e3fe3a39-0589-495d-8426-f248bb594fd5","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":160,"box":{"x":62,"y":380,"width":649,"height":11}},{"id":"ad25b35a-8d58-46e9-bb0c-cbda6ebe993e","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":160,"box":{"x":62,"y":407,"width":755,"height":12}},{"id":"32215c8a-0e8e-457a-8d40-d234c4d42063","block_type":"box","text":"Permitted derivatives","page_number":160,"box":{"x":72,"y":437,"width":168,"height":9}},{"id":"eccddd07-fddb-4fe5-87eb-49f09e07b107","block_type":"box","text":"Permitted?","page_number":160,"box":{"x":383,"y":437,"width":85,"height":9}},{"id":"41edda50-5d27-4a60-85f8-239ff712925f","block_type":"box","text":"Prohibited?","page_number":160,"box":{"x":489,"y":437,"width":91,"height":9}},{"id":"f205ab2d-ea0b-49cd-bd32-9679049d3e80","block_type":"box","text":"Equity index futures","page_number":160,"box":{"x":72,"y":458,"width":146,"height":11}},{"id":"e3e7e8db-379f-425c-8112-fcf0335d0c04","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":455,"width":8,"height":12}},{"id":"5fc23195-b19a-48d9-aaf6-2a3b22d7653e","block_type":"box","text":"Government bond futures","page_number":160,"box":{"x":72,"y":476,"width":188,"height":9}},{"id":"db910d99-19ac-42f8-9172-423344de3b28","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":474,"width":8,"height":11}},{"id":"1a0df351-abf4-42af-bae4-f91baafc0464","block_type":"box","text":"Equity index options","page_number":160,"box":{"x":72,"y":495,"width":148,"height":11}},{"id":"7652c42c-6712-4239-ace1-931c8765e74f","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":492,"width":8,"height":12}},{"id":"6cf573ea-8c6d-4528-b3ea-c417d5462f24","block_type":"box","text":"Forward foreign exchange","page_number":160,"box":{"x":72,"y":513,"width":193,"height":11}},{"id":"fd953a95-c73e-4fee-ad92-b33c66eaf569","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":511,"width":8,"height":11}},{"id":"867ae25f-4471-4b4f-960f-6ad60a5a6010","block_type":"box","text":"Index credit default swaps","page_number":160,"box":{"x":72,"y":531,"width":192,"height":12}},{"id":"1a7027a6-013b-4677-9cc4-26bbed28b18c","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":529,"width":8,"height":12}},{"id":"004beff5-387a-415e-b4f7-f616d3929576","block_type":"box","text":"Interest rate swaps","page_number":160,"box":{"x":72,"y":550,"width":140,"height":11}},{"id":"d58dec9c-5073-46f3-b69a-5209f6973168","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":548,"width":8,"height":11}},{"id":"b1e23224-728f-492c-8f76-cfc041899912","block_type":"box","text":"OTC equity options","page_number":160,"box":{"x":72,"y":568,"width":142,"height":11}},{"id":"3dff3456-3979-4465-8e0b-348cd672a025","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":566,"width":8,"height":11}},{"id":"93f13d71-3892-48b6-a228-7bfc9ff3b4a0","block_type":"box","text":"Inflation swaps","page_number":160,"box":{"x":72,"y":587,"width":109,"height":11}},{"id":"cd8c78b7-c038-40bc-9795-7954034ed4f9","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":584,"width":8,"height":12}},{"id":"fd3f8829-a9b9-4ed5-b681-6410fdda51c7","block_type":"box","text":"Cross currency swaps","page_number":160,"box":{"x":72,"y":605,"width":163,"height":11}},{"id":"d390e748-0853-46b2-84fb-7c344d3d4ba9","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":603,"width":8,"height":11}},{"id":"dea2424e-7424-4bbf-8808-0ae54a42c42e","block_type":"box","text":"TRS","page_number":160,"box":{"x":71,"y":623,"width":33,"height":9}},{"id":"0d261c16-408c-479a-a50f-7f68778022b6","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":621,"width":8,"height":12}},{"id":"c70076ed-b2f7-4cdd-a7d7-4f56b84ab9ea","block_type":"box","text":"Other","page_number":160,"box":{"x":72,"y":642,"width":41,"height":9}},{"id":"d34a9606-e99b-4788-bb69-57a5471996af","block_type":"box","text":"√","page_number":160,"box":{"x":422,"y":640,"width":8,"height":11}},{"id":"194b7c13-7980-400c-9da4-0490ba43f4d4","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":160,"box":{"x":63,"y":670,"width":860,"height":11}},{"id":"c37f790d-f5af-4def-b852-91b45c7cb8ea","block_type":"box","text":"2)","page_number":160,"box":{"x":62,"y":683,"width":13,"height":12}},{"id":"509ad903-7a1c-41a6-a080-cd806442f881","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":161,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"e2bf8bb2-b5aa-4b67-8736-c82560ccd2cf","block_type":"box","text":"161","page_number":161,"box":{"x":781,"y":940,"width":16,"height":6}},{"id":"8ac3980c-7433-403c-9550-00787e06c9ad","block_type":"box","text":"Aviva Investors: Confidential","page_number":161,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"50b9def6-d362-4931-ba55-16dec3755900","block_type":"box","text":"Leverage Limits","page_number":161,"box":{"x":63,"y":52,"width":128,"height":12}},{"id":"e6450d68-a1bd-4e68-9de3-e62c3b984375","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":161,"box":{"x":200,"y":52,"width":722,"height":12}},{"id":"0cdabbfd-080e-40c3-b68c-e6991d8b382d","block_type":"box","text":"Regime):","page_number":161,"box":{"x":63,"y":66,"width":65,"height":11}},{"id":"fde74678-da38-4acd-89e1-285a86f014fd","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":161,"box":{"x":62,"y":93,"width":471,"height":12}},{"id":"a65da18a-8772-4c3f-8008-163c56267b67","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":125,"width":6,"height":4}},{"id":"e28a002d-45dc-4696-8e81-8e6dbb2f312d","block_type":"box","text":"Gross Method: Up to 1.8:1","page_number":161,"box":{"x":92,"y":122,"width":193,"height":11}},{"id":"6b60576b-4bd6-403b-b2a9-72567b57eae4","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":139,"width":6,"height":5}},{"id":"a9e5bf2e-1f32-4ae2-a9f6-6647053f70e3","block_type":"box","text":"Commitment: Up to 1.6:1","page_number":161,"box":{"x":92,"y":136,"width":183,"height":11}},{"id":"e12555db-c257-424a-8d60-ec484aaf0a11","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":161,"box":{"x":62,"y":163,"width":860,"height":12}},{"id":"90dcebd4-ae0c-408c-9c3b-8c23f5eaa638","block_type":"box","text":"which case leverage will not exceed the following:","page_number":161,"box":{"x":62,"y":177,"width":368,"height":11}},{"id":"b0f3390a-a96c-4ab2-9c28-b38a03cbeff3","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":208,"width":6,"height":5}},{"id":"0767948b-ab35-4282-bc5d-2285188e2e07","block_type":"box","text":"Gross Method: Up to 3.0:1","page_number":161,"box":{"x":92,"y":205,"width":193,"height":11}},{"id":"679202f9-3ae3-447d-9fa6-777cdebce57b","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":223,"width":6,"height":4}},{"id":"bfcc77c7-57e6-4924-8304-f611ec64d732","block_type":"box","text":"Commitment: Up to 2.0:1","page_number":161,"box":{"x":92,"y":220,"width":183,"height":11}},{"id":"4303294f-31b7-45d2-857a-868a413e2825","block_type":"box","text":"Specific Risks","page_number":161,"box":{"x":62,"y":239,"width":113,"height":11}},{"id":"8e0ec37b-8814-41f0-9302-7da67435604b","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":161,"box":{"x":181,"y":239,"width":462,"height":11}},{"id":"6e5e3379-ff84-4ae6-95fb-f46c65d92077","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":263,"width":6,"height":4}},{"id":"b9884795-fd57-4733-b8a8-6baecaf278e2","block_type":"box","text":"Emerging Markets","page_number":161,"box":{"x":93,"y":260,"width":134,"height":11}},{"id":"e428a2a0-f66e-45d3-b13c-f7ccb258480f","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":277,"width":6,"height":4}},{"id":"dbc271e6-eabb-4fd2-aa2a-546c2452feb0","block_type":"box","text":"Smaller Companies","page_number":161,"box":{"x":92,"y":274,"width":145,"height":11}},{"id":"a7745023-8432-4ebc-9c77-f74fc8b9e2ac","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":292,"width":6,"height":4}},{"id":"435684c5-7961-4acb-99f4-225d48ece76f","block_type":"box","text":"Fixed Interest","page_number":161,"box":{"x":93,"y":289,"width":100,"height":8}},{"id":"a854fb88-a334-43eb-8195-b6f04fb3ad58","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":306,"width":6,"height":4}},{"id":"e556454f-9793-40fb-9aad-e9c6a1a0e5ab","block_type":"box","text":"Index-Linked","page_number":161,"box":{"x":93,"y":303,"width":93,"height":9}},{"id":"2bb849e2-23b4-4ad6-b5f9-a3691bfde946","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":321,"width":6,"height":4}},{"id":"d6ac069b-0214-4ade-8261-f7e396363e92","block_type":"box","text":"Alternatives","page_number":161,"box":{"x":92,"y":318,"width":86,"height":8}},{"id":"8049941d-211f-4fc5-b6e7-b8c2c434e0ad","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":335,"width":6,"height":4}},{"id":"ba448045-c36d-438d-becd-91a252af25e0","block_type":"box","text":"Equity Securities","page_number":161,"box":{"x":93,"y":332,"width":123,"height":11}},{"id":"d1bcec1b-9cb5-4a1d-a532-39bf3e11c1d1","block_type":"box","text":"","page_number":161,"box":{"x":62,"y":350,"width":6,"height":4}},{"id":"3f64a724-cf9b-480a-9103-ec8451f3a882","block_type":"box","text":"Benchmark Indices","page_number":161,"box":{"x":93,"y":347,"width":140,"height":8}},{"id":"d65d6cac-db9c-47e9-baf1-16427324ef86","block_type":"box","text":"Past Performance – AI Balanced Pension Fund","page_number":161,"box":{"x":72,"y":392,"width":371,"height":9}},{"id":"a6436aca-35c5-4b77-96aa-4c6adc483599","block_type":"box","text":"% Growth","page_number":161,"box":{"x":71,"y":412,"width":77,"height":8}},{"id":"8390ac38-5caf-4cf7-8a94-dc79c2f2c27c","block_type":"box","text":"1/1/2024 to","page_number":161,"box":{"x":281,"y":437,"width":103,"height":8}},{"id":"07409e73-abff-4179-8766-657d5d00b282","block_type":"box","text":"31/12/2024","page_number":161,"box":{"x":280,"y":450,"width":75,"height":8}},{"id":"56ca2018-6317-4742-aa38-c10e68ec5c7b","block_type":"box","text":"1/1/2023 to","page_number":161,"box":{"x":404,"y":437,"width":94,"height":8}},{"id":"378b03de-e77b-4f97-a4b1-bf1c79341de2","block_type":"box","text":"31/12/2023","page_number":161,"box":{"x":403,"y":450,"width":75,"height":8}},{"id":"aacd2582-2040-4ceb-8bba-209d0c6466fb","block_type":"box","text":"1/1/2022 to","page_number":161,"box":{"x":517,"y":437,"width":94,"height":8}},{"id":"8ade9442-6a7d-44e8-92bb-fd88cfdb69a3","block_type":"box","text":"31/12/2022","page_number":161,"box":{"x":516,"y":450,"width":75,"height":8}},{"id":"b26e4707-93bd-475c-9505-f4c07b83befa","block_type":"box","text":"1/1/2021 to","page_number":161,"box":{"x":631,"y":437,"width":94,"height":8}},{"id":"55221932-4b65-4a1a-a73a-185003713edb","block_type":"box","text":"31/12/2021","page_number":161,"box":{"x":630,"y":450,"width":73,"height":8}},{"id":"c532378a-d73d-4ab1-a9bb-6df0ecd77e71","block_type":"box","text":"1/1/2020 to","page_number":161,"box":{"x":744,"y":437,"width":94,"height":8}},{"id":"6181ca97-bfdb-4daa-9ec9-c181f7957ab0","block_type":"box","text":"31/12/2020","page_number":161,"box":{"x":743,"y":450,"width":75,"height":8}},{"id":"ab75da40-d4b8-4af3-9e47-4e8383f29885","block_type":"box","text":"UK Corporate Income","page_number":161,"box":{"x":72,"y":474,"width":189,"height":11}},{"id":"f8797b11-ab69-4f5f-820a-58a5844a380e","block_type":"box","text":"Distribution Units (%)","page_number":161,"box":{"x":72,"y":487,"width":140,"height":10}},{"id":"daada15e-6e20-4893-9e5d-d75daa617d12","block_type":"box","text":"Insured Pension Income","page_number":161,"box":{"x":72,"y":512,"width":189,"height":8}},{"id":"bf8e4c63-652c-470f-a561-1c5d58fd1fcd","block_type":"box","text":"Distribution Units (%)","page_number":161,"box":{"x":72,"y":524,"width":140,"height":10}},{"id":"5cd23972-c7ff-4f44-8203-0854a5d26a7d","block_type":"box","text":"8.81","page_number":161,"box":{"x":280,"y":512,"width":26,"height":8}},{"id":"73127d74-7ebb-418d-9043-577c9222bd47","block_type":"box","text":"7.43","page_number":161,"box":{"x":403,"y":512,"width":29,"height":8}},{"id":"89045782-74fb-46e9-92d1-3b4b3c0188bd","block_type":"box","text":"N/A","page_number":161,"box":{"x":517,"y":512,"width":24,"height":8}},{"id":"112512ea-d384-437a-bea2-728339e480b4","block_type":"box","text":"11.0","page_number":161,"box":{"x":631,"y":512,"width":28,"height":8}},{"id":"e62b6129-659f-4b04-bdcb-f388271b7a2c","block_type":"box","text":"7.9","page_number":161,"box":{"x":743,"y":512,"width":20,"height":8}},{"id":"eeca581e-28e1-48ef-831a-61e544f0fc23","block_type":"box","text":"UK Institutional","page_number":161,"box":{"x":72,"y":555,"width":189,"height":8}},{"id":"0ab560c0-2d17-4d7f-916c-d367b1854288","block_type":"box","text":"Accumulation Units (%)","page_number":161,"box":{"x":71,"y":567,"width":156,"height":10}},{"id":"ebc1a135-de5b-4bda-924f-e1348899007b","block_type":"box","text":"ACS (Fund of Fund)","page_number":161,"box":{"x":71,"y":592,"width":190,"height":10}},{"id":"6059ba47-eefb-4c3e-a723-8c85eaa6d13a","block_type":"box","text":"Accumulation Units Class 1","page_number":161,"box":{"x":71,"y":604,"width":188,"height":8}},{"id":"0879d056-3558-4ca0-a183-d609ba8d9455","block_type":"box","text":"(%)","page_number":161,"box":{"x":72,"y":616,"width":21,"height":10}},{"id":"fb7e1d35-0992-4dcc-94b5-e2ed2faaa53b","block_type":"box","text":"ACS (Fund of Fund)","page_number":161,"box":{"x":71,"y":641,"width":190,"height":10}},{"id":"63c72a83-d862-4e4c-9cfa-36c1251b2460","block_type":"box","text":"Accumulation Units Class 2","page_number":161,"box":{"x":71,"y":653,"width":190,"height":8}},{"id":"4f114bec-b224-4da1-9f49-91d3770b7162","block_type":"box","text":"(%)","page_number":161,"box":{"x":72,"y":665,"width":21,"height":11}},{"id":"5212af28-9c0d-43c2-bf86-63bee7978cc5","block_type":"box","text":"UK Corporate Accumulation","page_number":161,"box":{"x":72,"y":690,"width":189,"height":10}},{"id":"ab8addda-f4cd-4417-bc10-1baec727fd97","block_type":"box","text":"Units (%)","page_number":161,"box":{"x":72,"y":703,"width":60,"height":10}},{"id":"22deb611-dcf2-45f9-9b4e-8070edc4e19f","block_type":"box","text":"8.77","page_number":161,"box":{"x":280,"y":691,"width":29,"height":7}},{"id":"7d0c5104-ae4d-4c17-82e8-675f5129e120","block_type":"box","text":"7.71","page_number":161,"box":{"x":403,"y":691,"width":26,"height":7}},{"id":"1902bb39-33d9-411d-ab67-3ce9764c6741","block_type":"box","text":"-10.94","page_number":161,"box":{"x":517,"y":691,"width":42,"height":7}},{"id":"04276863-8c65-4bc6-9163-71e00825f712","block_type":"box","text":"N/A","page_number":161,"box":{"x":631,"y":690,"width":24,"height":8}},{"id":"7b304c74-a747-451b-bb50-b3ec03c119a8","block_type":"box","text":"N/A","page_number":161,"box":{"x":744,"y":690,"width":24,"height":8}},{"id":"b88fa2c1-bb43-44cf-87ee-51c977105b4b","block_type":"box","text":"Insured Pension","page_number":161,"box":{"x":72,"y":733,"width":189,"height":8}},{"id":"0ddabc04-eb4b-4ec5-89e1-0565d69c4e76","block_type":"box","text":"Accumulation Units (%)","page_number":161,"box":{"x":71,"y":746,"width":156,"height":10}},{"id":"25b3c310-525e-4051-8b36-c56ed310054f","block_type":"box","text":"UK Fund of Fund","page_number":161,"box":{"x":72,"y":770,"width":189,"height":8}},{"id":"fd405a9e-7bb0-4693-b654-1b29ad429d85","block_type":"box","text":"Accumulation Units (%)","page_number":161,"box":{"x":71,"y":783,"width":156,"height":10}},{"id":"be584f1d-deaf-4b34-a32e-a968be24bb12","block_type":"box","text":"Composite Benchmark","page_number":161,"box":{"x":73,"y":810,"width":190,"height":10}},{"id":"b55d8800-352f-41a5-8be9-ac62adb92f0b","block_type":"box","text":"Index (as defined in the","page_number":161,"box":{"x":72,"y":823,"width":190,"height":10}},{"id":"c5c45696-8398-4b7a-be7c-0a4ad573670a","block_type":"box","text":"Performance & Risk","page_number":161,"box":{"x":72,"y":835,"width":191,"height":8}},{"id":"61673e16-ad83-4d75-a9f0-7bd0fde36823","block_type":"box","text":"Measurement section of the","page_number":161,"box":{"x":72,"y":847,"width":190,"height":8}},{"id":"e8435d84-2ad7-45f7-b7fd-3df02a2a1be8","block_type":"box","text":"Investment Policy) plus","page_number":161,"box":{"x":72,"y":859,"width":190,"height":11}},{"id":"efbb5fa0-7e45-4110-ab37-02eebced37db","block_type":"box","text":"1.25%","page_number":161,"box":{"x":74,"y":872,"width":40,"height":8}},{"id":"f5aeae9a-5a30-4cf6-9678-8a41b112e2f8","block_type":"box","text":"(From 1 December 2021 to","page_number":161,"box":{"x":73,"y":890,"width":189,"height":10}},{"id":"feb56201-3ff1-4d54-a934-88407aaff0e8","block_type":"box","text":"29 May 2026 the Sub-Fund","page_number":161,"box":{"x":71,"y":902,"width":192,"height":10}},{"id":"ef7874c5-9b51-4786-b711-5724cc558648","block_type":"box","text":"targeted capital and income","page_number":161,"box":{"x":72,"y":915,"width":190,"height":10}},{"id":"36d493e4-83bf-4e30-8f95-1268d3878f3f","block_type":"box","text":"equivalent to SONIA plus","page_number":161,"box":{"x":72,"y":927,"width":190,"height":10}},{"id":"1703ae81-1883-45a4-ad87-92f72d8fa540","block_type":"box","text":"9.42","page_number":161,"box":{"x":281,"y":811,"width":28,"height":7}},{"id":"c0bd248d-9e3c-45e0-a8d6-43d0ca9dd474","block_type":"box","text":"8.90","page_number":161,"box":{"x":404,"y":811,"width":29,"height":7}},{"id":"43a8c74a-5c99-45d2-ba2b-308054d82ee6","block_type":"box","text":"5.41","page_number":161,"box":{"x":517,"y":811,"width":28,"height":7}},{"id":"c808e4e8-3a36-45c8-988a-6e00cefd8fd0","block_type":"box","text":"4.1","page_number":161,"box":{"x":630,"y":811,"width":20,"height":7}},{"id":"f0cd5bbb-7f12-4a75-8227-590fb89d343b","block_type":"box","text":"0.3","page_number":161,"box":{"x":744,"y":811,"width":21,"height":7}},{"id":"a05b36af-e7e1-45ad-8440-f3c23d32d7a9","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":162,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"1305d1b4-f3e5-4880-a20a-777ddd308abd","block_type":"box","text":"162","page_number":162,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"8007f853-4344-4338-8962-04e5b15685d2","block_type":"box","text":"Aviva Investors: Confidential","page_number":162,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"4f5bac81-804f-4c01-9619-de8cc3b6f0c8","block_type":"box","text":"4%. Prior to 1 December","page_number":162,"box":{"x":72,"y":56,"width":191,"height":8}},{"id":"58725395-056d-4efc-83e9-7498ecc6ea1a","block_type":"box","text":"2021, the comparator","page_number":162,"box":{"x":71,"y":68,"width":192,"height":10}},{"id":"9ce7594d-f277-468c-b4c0-b2fabb301a73","block_type":"box","text":"benchmark was UK GBP 3","page_number":162,"box":{"x":72,"y":80,"width":191,"height":8}},{"id":"1cdf8f3c-da96-4b24-859f-146596de99d9","block_type":"box","text":"Month LIBOR plus 4%.","page_number":162,"box":{"x":72,"y":93,"width":189,"height":10}},{"id":"2017442e-aecc-459b-a418-8011d7542f15","block_type":"box","text":"Performance data shown","page_number":162,"box":{"x":72,"y":105,"width":190,"height":8}},{"id":"df1e331f-3746-4cae-9bd2-796fa0544935","block_type":"box","text":"prior to these dates therefore","page_number":162,"box":{"x":71,"y":117,"width":191,"height":10}},{"id":"5e4b3784-c7d4-4c67-8b55-dd2eb95bf1c6","block_type":"box","text":"relates to these previous","page_number":162,"box":{"x":72,"y":130,"width":190,"height":10}},{"id":"185c4cdb-9e8a-4cbd-b52b-3483318ea717","block_type":"box","text":"benchmarks)","page_number":162,"box":{"x":72,"y":142,"width":87,"height":10}},{"id":"20651676-f98e-4998-b8e2-69a94e0bc486","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":163,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"a7f2837c-a4c6-4a56-9660-1cc5073596d6","block_type":"box","text":"163","page_number":163,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"d8709fa6-0c90-4f98-b354-f2c66c635417","block_type":"box","text":"Aviva Investors: Confidential","page_number":163,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"6c7368ba-1999-427c-97ca-1de9f27a33c3","block_type":"box","text":"AI Balanced Life Fund","page_number":163,"box":{"x":62,"y":53,"width":175,"height":8}},{"id":"ef5ad013-7375-4506-9ce4-1672b59db075","block_type":"box","text":"FCA product reference number: 658324","page_number":163,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"dfbeba5a-0577-464b-b64f-a6c34fa7e0da","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":163,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"21a2d9a3-d814-412f-9062-112e51ea8d09","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":163,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"debdd9f3-5e23-4268-a645-075244770a55","block_type":"box","text":"Investment Objective and Policy","page_number":163,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"3c9f5d1a-eab3-4450-97c8-949caf02abaa","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more), through a combination of capital","page_number":163,"box":{"x":62,"y":186,"width":860,"height":11}},{"id":"cad94bab-4ffc-4e8f-ad9a-8d855d977a9b","block_type":"box","text":"and income returns, and aims to outperform the Composite Benchmark Index by 1.25% (average annualised returns,","page_number":163,"box":{"x":62,"y":200,"width":860,"height":11}},{"id":"5bf5e45e-2ca7-4faa-90c7-d017e0e5f9ec","block_type":"box","text":"before the deduction of charges and taxes, measured over rolling 5-year periods).","page_number":163,"box":{"x":62,"y":213,"width":605,"height":12}},{"id":"44c56900-510c-4e72-942b-bf9b9bf79929","block_type":"box","text":"Core investment:","page_number":163,"box":{"x":62,"y":235,"width":135,"height":9}},{"id":"1f6da5a5-ead4-4fa4-9cb5-6f3d33ede863","block_type":"box","text":"The Sub-Fund invests in a broad range of global asset classes (including emerging markets) that may include shares,","page_number":163,"box":{"x":62,"y":257,"width":860,"height":12}},{"id":"728014a8-4659-4f99-91b2-980ce232efa8","block_type":"box","text":"bonds issued by companies or governments (which can be investment grade and sub-investment grade), cash, and","page_number":163,"box":{"x":62,"y":271,"width":860,"height":11}},{"id":"0e7a3b96-f87d-4a61-b0ec-3a901eeaff59","block_type":"box","text":"alternative strategies (such as commodities, real estate, hedge funds, alternative risk premia, and absolute return","page_number":163,"box":{"x":62,"y":285,"width":860,"height":11}},{"id":"69f4df2b-44d7-49a3-9789-0b5cef32bf79","block_type":"box","text":"strategies). Exposure to alternative strategies will be gained through investment in other funds (including funds","page_number":163,"box":{"x":62,"y":298,"width":861,"height":12}},{"id":"9ba9c1e4-72db-4b6f-9864-0a64414fd15a","block_type":"box","text":"managed by Aviva Investors companies or the Investment Manager). Exposure to the other asset classes will be","page_number":163,"box":{"x":62,"y":312,"width":861,"height":11}},{"id":"e867811a-7d52-4689-b7d7-ebbb340533d6","block_type":"box","text":"gained through investment in other funds (including funds managed by Aviva Investors companies or the Investment","page_number":163,"box":{"x":62,"y":326,"width":861,"height":11}},{"id":"310df0e2-5244-49cc-a1c9-690c6622cec3","block_type":"box","text":"Manager) and also by investing directly in these assets, or through the use of derivatives.","page_number":163,"box":{"x":63,"y":339,"width":659,"height":12}},{"id":"273e1bc6-1c8e-4d1c-93af-8dfa7ce02849","block_type":"box","text":"A maximum of 20% can be invested in sub-investment grade bonds (directly or through other funds). At least 50% of","page_number":163,"box":{"x":62,"y":361,"width":861,"height":11}},{"id":"662d8e4e-6816-415b-800e-7e2ce9fd7e08","block_type":"box","text":"the Sub-Fund’s underlying assets (directly or on look through to the currencies of the underlying assets of other funds)","page_number":163,"box":{"x":62,"y":375,"width":860,"height":11}},{"id":"94b8510f-a9d1-4877-a94e-a85ad717cef6","block_type":"box","text":"will be held in US Dollars, Sterling or Euros, with a minimum of 25% in Sterling (including hedged back to Sterling).","page_number":163,"box":{"x":62,"y":389,"width":848,"height":11}},{"id":"4f3f56f2-67ff-44ad-8fad-1bfcddc830d2","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":163,"box":{"x":63,"y":411,"width":860,"height":11}},{"id":"3c25f6ca-f09b-4183-b1ac-e577388cc580","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":163,"box":{"x":62,"y":424,"width":861,"height":11}},{"id":"88e87d1a-633d-4d63-b420-caa12d81827d","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":163,"box":{"x":62,"y":438,"width":545,"height":11}},{"id":"2abbdea6-5935-41e4-860e-d6f7762bcd4c","block_type":"box","text":"Strategy:","page_number":163,"box":{"x":62,"y":460,"width":70,"height":11}},{"id":"2bfa8562-6a7d-464a-8e74-908c2ea6259d","block_type":"box","text":"The Sub-Fund is actively managed, and seeks to meet the return objective through investment in a diversified range","page_number":163,"box":{"x":62,"y":482,"width":861,"height":11}},{"id":"c8f46191-5dab-4fad-9ec3-d8a60d1e09b5","block_type":"box","text":"of global asset classes. The Fund uses a strategic asset allocation (SAA) to target an investment outcome consistent","page_number":163,"box":{"x":62,"y":495,"width":861,"height":12}},{"id":"de5111a6-eb96-4eab-87a8-a2b430c052ec","block_type":"box","text":"with the Fund’s risk profile and return target whilst ensuring sufficient diversification. The Fund uses target asset","page_number":163,"box":{"x":62,"y":509,"width":861,"height":11}},{"id":"ab1ddc76-3847-4337-a0da-a6040f653e8b","block_type":"box","text":"allocation to determine, within a range, the Fund’s allocation to the different asset classes. The Investment Manager","page_number":163,"box":{"x":62,"y":523,"width":861,"height":11}},{"id":"b822bee9-88ea-4010-a85d-19f19bf4f646","block_type":"box","text":"seeks out opportunities where markets are considered to be mispriced relative to their fundamental outlook.","page_number":163,"box":{"x":62,"y":536,"width":795,"height":11}},{"id":"f871fab6-bcfb-4d0d-b773-8bf359746c68","block_type":"box","text":"The SAA has been designed to provide a framework for tactical decision making and to allow for tactical changes to","page_number":163,"box":{"x":62,"y":558,"width":861,"height":12}},{"id":"3db1459b-7310-4575-a9d6-2227958113ff","block_type":"box","text":"the asset mix, aiming to capitalise on specific investment opportunities. This flexibility allows the Fund to try to take","page_number":163,"box":{"x":62,"y":572,"width":861,"height":11}},{"id":"9925b661-b9bf-4d80-9832-289647429ed3","block_type":"box","text":"advantage of perceived pricing anomalies or to participate in economic conditions seen as more favourable for one","page_number":163,"box":{"x":62,"y":586,"width":861,"height":11}},{"id":"afc770a3-1687-4294-a010-5dab0a1a1549","block_type":"box","text":"asset class, sector or specific asset relative to others.","page_number":163,"box":{"x":62,"y":599,"width":395,"height":11}},{"id":"55c233af-6d11-44a7-a58a-e8b7cc12681a","block_type":"box","text":"Without limitation to the thresholds set out in the “Core investment” section above, the asset allocation of the Sub","page_number":163,"box":{"x":62,"y":621,"width":860,"height":11}},{"id":"e9d21585-a5f0-4cc4-a25c-5c8a13ba0e7d","block_type":"box","text":"Fund is expected to fall within the following permitted ranges relative to the equivalent weight of the relevant overall","page_number":163,"box":{"x":63,"y":635,"width":859,"height":11}},{"id":"a0a83b9f-75d0-4dcc-873d-d4b6a34e26e9","block_type":"box","text":"asset class or sub-asset class components of the Composite Benchmark Index (as shown in the Performance & Risk","page_number":163,"box":{"x":62,"y":649,"width":861,"height":11}},{"id":"eeaf0360-6a71-4e4f-ad16-fa3c18fe545f","block_type":"box","text":"Measurement section below). Where the Sub-Fund invests indirectly through other funds, the Investment Manager","page_number":163,"box":{"x":63,"y":662,"width":860,"height":12}},{"id":"b1051eb1-cf54-40e4-a60c-0284f9f4bcdb","block_type":"box","text":"will look through to the assets held by the other funds in order to allocate these exposures to the relevant overall or","page_number":163,"box":{"x":62,"y":676,"width":861,"height":11}},{"id":"b6691e4d-c342-4baa-8ffc-2871d591e024","block_type":"box","text":"sub-asset class component and range.","page_number":163,"box":{"x":62,"y":690,"width":286,"height":11}},{"id":"ade1e502-e92a-48c7-83ef-a7759b13875f","block_type":"box","text":"Asset Class","page_number":163,"box":{"x":80,"y":729,"width":94,"height":9}},{"id":"de1d34cf-c295-40a4-8c5a-774d3e22dd67","block_type":"box","text":"Total exposure of","page_number":163,"box":{"x":308,"y":729,"width":139,"height":11}},{"id":"a5417c74-5b1a-4932-94cb-34832d1f705b","block_type":"box","text":"Composite Benchmark","page_number":163,"box":{"x":287,"y":741,"width":182,"height":12}},{"id":"af4e6095-5b7f-4ad1-8e6c-d37b8299acc6","block_type":"box","text":"Index to Asset Class (%","page_number":163,"box":{"x":284,"y":754,"width":188,"height":11}},{"id":"7835c718-15bf-4b7a-b28d-a626c99df753","block_type":"box","text":"of Composite","page_number":163,"box":{"x":324,"y":767,"width":107,"height":11}},{"id":"8d178ad1-3e8f-4c4e-a219-bb0e4a3db9b0","block_type":"box","text":"Benchmark Index)","page_number":163,"box":{"x":306,"y":780,"width":144,"height":11}},{"id":"e3f56205-ee11-46a1-b5c1-377436c0df48","block_type":"box","text":"Permitted Range for","page_number":163,"box":{"x":507,"y":729,"width":159,"height":11}},{"id":"0bc44198-62cd-4efe-9f32-e378601d68ca","block_type":"box","text":"Sub-Fund (% of Sub","page_number":163,"box":{"x":504,"y":741,"width":164,"height":12}},{"id":"ef1f0958-d1eb-4959-b470-3470e822b22c","block_type":"box","text":"Fund)","page_number":163,"box":{"x":564,"y":754,"width":45,"height":11}},{"id":"903dfd53-7daf-4c8e-9a15-dcc6049fb824","block_type":"box","text":"Equities (permitted","page_number":163,"box":{"x":81,"y":797,"width":138,"height":11}},{"id":"a82b05d2-5a9b-4d19-9dee-1c771727613f","block_type":"box","text":"range applied to both","page_number":163,"box":{"x":81,"y":810,"width":155,"height":11}},{"id":"a414e6db-6573-44ac-b8ec-699ff6876b60","block_type":"box","text":"overall asset class and","page_number":163,"box":{"x":80,"y":822,"width":169,"height":9}},{"id":"ab6f81a0-419a-423a-8670-57b99569e89b","block_type":"box","text":"sub-asset class","page_number":163,"box":{"x":80,"y":835,"width":115,"height":9}},{"id":"66c6c3cc-cb31-42a8-b589-7a1fb7d266ef","block_type":"box","text":"components, as shown","page_number":163,"box":{"x":80,"y":848,"width":170,"height":11}},{"id":"cea62d64-18bc-4583-9021-bf1b0c98f6cb","block_type":"box","text":"in the Performance &","page_number":163,"box":{"x":81,"y":860,"width":156,"height":9}},{"id":"d5ce3d44-3a16-45ab-b58e-baad1c2333c6","block_type":"box","text":"Risk Measurement","page_number":163,"box":{"x":81,"y":873,"width":138,"height":9}},{"id":"f49461f7-fd03-46cc-acc9-cd6c752ca66b","block_type":"box","text":"section below)*/***","page_number":163,"box":{"x":80,"y":885,"width":137,"height":12}},{"id":"1503d727-7b91-42b9-8807-07d78d4a699a","block_type":"box","text":"69.0%","page_number":163,"box":{"x":354,"y":797,"width":46,"height":9}},{"id":"a1fefab9-1900-4bf6-94ad-ec902cd34d10","block_type":"box","text":"+/-7%","page_number":163,"box":{"x":564,"y":797,"width":43,"height":9}},{"id":"9022fce9-3c1e-4215-8128-8f60cdbfa0d6","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":164,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"32d25a67-f559-460c-8abf-8ee26972c5ec","block_type":"box","text":"164","page_number":164,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"8cf8b525-ecda-4ed3-a48e-ff426dc81e4f","block_type":"box","text":"Aviva Investors: Confidential","page_number":164,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"ff723a4a-33df-43b7-9ac8-2778e3a51e9e","block_type":"box","text":"Fixed Income (","page_number":164,"box":{"x":81,"y":56,"width":109,"height":11}},{"id":"628b13ed-cc3c-4a76-bf33-99f1c9b1504a","block_type":"box","text":"permitted","page_number":164,"box":{"x":192,"y":56,"width":68,"height":11}},{"id":"f59b06a6-c612-4937-8668-763511c14fde","block_type":"box","text":"range applied to both","page_number":164,"box":{"x":81,"y":69,"width":155,"height":11}},{"id":"03d3ed72-56b9-4960-95db-eccd62bd0171","block_type":"box","text":"overall asset class and","page_number":164,"box":{"x":80,"y":81,"width":169,"height":9}},{"id":"7b5df2b4-b44a-4c33-80d5-5e15d60528a9","block_type":"box","text":"sub-asset class","page_number":164,"box":{"x":80,"y":94,"width":115,"height":8}},{"id":"03b14f63-c37e-472f-b781-96c8a635b6d1","block_type":"box","text":"components, as shown","page_number":164,"box":{"x":80,"y":106,"width":170,"height":11}},{"id":"c1d5d776-2598-4dca-9957-20105c15c64d","block_type":"box","text":"in the Performance &","page_number":164,"box":{"x":81,"y":119,"width":156,"height":9}},{"id":"21883f32-1b00-4e44-bb47-5fc2856a58ef","block_type":"box","text":"Risk Measurement","page_number":164,"box":{"x":81,"y":131,"width":138,"height":9}},{"id":"c0c15958-b47f-48cc-a2d7-85554522bc08","block_type":"box","text":"section below)***","page_number":164,"box":{"x":80,"y":144,"width":126,"height":11}},{"id":"cd6b54e9-e84a-42a9-802d-6f833c365955","block_type":"box","text":"26.5%","page_number":164,"box":{"x":354,"y":56,"width":46,"height":9}},{"id":"cdec5dd2-5596-4b88-9fa9-ce9b22b80d54","block_type":"box","text":"+/-7%","page_number":164,"box":{"x":564,"y":56,"width":43,"height":9}},{"id":"b79119a4-8160-459e-869f-4e336b7f093e","block_type":"box","text":"Alternatives strategies","page_number":164,"box":{"x":80,"y":161,"width":164,"height":11}},{"id":"8bc74154-5b8d-4ddf-b0d4-816494f7a7b3","block_type":"box","text":"as set out in the “Core","page_number":164,"box":{"x":80,"y":173,"width":164,"height":9}},{"id":"23150d8c-b18f-4655-bae7-9507de11794a","block_type":"box","text":"Investment” section","page_number":164,"box":{"x":81,"y":186,"width":143,"height":9}},{"id":"b276ef6d-48bf-4bf2-baad-bafb3f285eea","block_type":"box","text":"above (minimum weight","page_number":164,"box":{"x":80,"y":199,"width":177,"height":11}},{"id":"0faef2bf-c1d0-43de-afef-c95d2ca6014e","block_type":"box","text":"at 0%)","page_number":164,"box":{"x":80,"y":211,"width":47,"height":12}},{"id":"f47c5cbc-129c-4f82-a2e9-75a03d5c9685","block_type":"box","text":"3.0%","page_number":164,"box":{"x":359,"y":161,"width":37,"height":9}},{"id":"cf491e7d-9031-445f-b9b5-342da8565c5c","block_type":"box","text":"+/-7%","page_number":164,"box":{"x":564,"y":161,"width":43,"height":9}},{"id":"bb1bd1cd-079e-416b-bfe0-21894c25e31d","block_type":"box","text":"Cash (minimum weight","page_number":164,"box":{"x":80,"y":229,"width":170,"height":11}},{"id":"eba03045-738d-45e8-a97d-3f58f84b863e","block_type":"box","text":"at 0%)**","page_number":164,"box":{"x":80,"y":241,"width":61,"height":11}},{"id":"1727263c-e73d-4162-8e2b-86a3267cd3c9","block_type":"box","text":"1.5%","page_number":164,"box":{"x":360,"y":229,"width":36,"height":8}},{"id":"fcc5df74-2405-4ebe-8858-6bdee41d7882","block_type":"box","text":"+/-7%","page_number":164,"box":{"x":564,"y":228,"width":43,"height":9}},{"id":"fcbae66c-5caa-416b-8e53-607a4283fddd","block_type":"box","text":"* The permitted range shall include the market value of any options but shall exclude the notional (and, as relevant,","page_number":164,"box":{"x":62,"y":261,"width":860,"height":12}},{"id":"1f992070-70dd-4665-8581-25ecd53da7bf","block_type":"box","text":"the delta-adjusted notional) exposure.","page_number":164,"box":{"x":62,"y":275,"width":279,"height":11}},{"id":"c244c2b0-3a22-4643-9692-3f5f532032f7","block_type":"box","text":"** The permitted range shall not include any permitted borrowing or cash held specifically to cover exposures arising","page_number":164,"box":{"x":62,"y":297,"width":860,"height":11}},{"id":"031f32db-9e37-4b82-8425-1281cf8994a9","block_type":"box","text":"from derivative transactions.","page_number":164,"box":{"x":62,"y":311,"width":208,"height":9}},{"id":"585597cd-e93e-4e1f-8a11-776c145ccf75","block_type":"box","text":"*** Equity and fixed income exposures shall be allocated to one of the sub-asset class components set out in the","page_number":164,"box":{"x":62,"y":333,"width":861,"height":11}},{"id":"46a6a219-d6c8-4407-8a7e-8e2eb9d5c3a0","block_type":"box","text":"“Performance & Risk Measurement” section below in accordance with the methodology of the corresponding","page_number":164,"box":{"x":62,"y":346,"width":860,"height":12}},{"id":"b8beacfd-b5bd-4118-8c89-56f446c24979","block_type":"box","text":"benchmark index.","page_number":164,"box":{"x":62,"y":360,"width":130,"height":9}},{"id":"c5238f5d-a93e-42fe-89e4-9b447cfc19e6","block_type":"box","text":"Should exposures fall outside of these ranges, in the case of Equities, Fixed Income and Alternatives, the Investment","page_number":164,"box":{"x":62,"y":382,"width":861,"height":11}},{"id":"e5d0696b-3745-4e82-9789-93e2f2cd5411","block_type":"box","text":"Manager will bring the portfolio back in line with the relevant range prior to the end of calendar month following the","page_number":164,"box":{"x":63,"y":396,"width":859,"height":11}},{"id":"473aadf5-b1bc-4c20-86f8-0e822547c3a9","block_type":"box","text":"calendar month in which the range was exceeded. In the case of Cash, the Investment Manager will bring the portfolio","page_number":164,"box":{"x":62,"y":409,"width":861,"height":12}},{"id":"2354ea68-9fc8-42da-9ab1-da37e7f898ae","block_type":"box","text":"back in line with the range as soon as possible.","page_number":164,"box":{"x":62,"y":423,"width":349,"height":11}},{"id":"d1031626-8d9d-4021-b2d2-24b098019d12","block_type":"box","text":"Notwithstanding the permitted ranges above which illustrate typical exposure to the overall and sub-asset class","page_number":164,"box":{"x":63,"y":445,"width":860,"height":11}},{"id":"efbcf6e8-af31-4fea-bfaf-ce3a48c1c48f","block_type":"box","text":"components, the Sub-fund will ultimately be managed in accordance with the requirements of the Investment","page_number":164,"box":{"x":62,"y":459,"width":861,"height":11}},{"id":"42a6ec7b-c561-4a71-9962-ae5737a95ae3","block_type":"box","text":"Association Mixed Investment 40-85% Shares sector, and accordingly shall invest between 40% and 85% in the","page_number":164,"box":{"x":62,"y":472,"width":861,"height":12}},{"id":"7c3e12b9-26f7-4d1e-bbcc-ff63ec13a1d2","block_type":"box","text":"shares of companies (including convertibles), directly or through other funds.","page_number":164,"box":{"x":62,"y":486,"width":566,"height":11}},{"id":"bbd80557-5f9d-4bc0-87e2-3081b15eb219","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":164,"box":{"x":62,"y":508,"width":527,"height":11}},{"id":"0ea00992-c0fd-4649-85f7-370f7788a3bc","block_type":"box","text":"please see Appendix 2 for information on","page_number":164,"box":{"x":594,"y":508,"width":328,"height":11}},{"id":"2f8f9864-7198-4077-88db-55cfacdd8ffe","block_type":"box","text":"these limited investment restrictions.","page_number":164,"box":{"x":62,"y":522,"width":295,"height":8}},{"id":"8d92fdf1-6b6c-42f8-bb20-97d75f6cd68e","block_type":"box","text":"Performance & Risk Measurement:","page_number":164,"box":{"x":63,"y":544,"width":275,"height":8}},{"id":"0bcaed84-0829-4d42-b9ce-f0347a07cf5d","block_type":"box","text":"The Composite Benchmark Index referred to above is made up of the following underlying benchmarks, reflecting the","page_number":164,"box":{"x":62,"y":565,"width":861,"height":12}},{"id":"9722f553-3a09-4348-b20f-fb2af9bd8f88","block_type":"box","text":"overall and sub-asset class components comprising the SAA:","page_number":164,"box":{"x":62,"y":579,"width":453,"height":11}},{"id":"931f78a4-195f-456f-a4af-ebbf9e118ee6","block_type":"box","text":"Asset Class and Sub","page_number":164,"box":{"x":72,"y":605,"width":171,"height":9}},{"id":"f711fef6-5566-496e-bb1b-b8ffd4ed51a0","block_type":"box","text":"Asset Class","page_number":164,"box":{"x":72,"y":617,"width":94,"height":9}},{"id":"d2291644-8b93-4f91-8764-4cd6eca18a24","block_type":"box","text":"Components","page_number":164,"box":{"x":72,"y":630,"width":101,"height":11}},{"id":"5a9b09f5-580d-4f05-bda0-4e1f0d9ba960","block_type":"box","text":"Weight (% of","page_number":164,"box":{"x":316,"y":605,"width":101,"height":11}},{"id":"8c94357c-8ca1-4be3-8af8-e35bb8fbd12c","block_type":"box","text":"Composite Benchmark","page_number":164,"box":{"x":276,"y":617,"width":182,"height":11}},{"id":"2d05d465-a003-477c-913d-3f8a654d7fb5","block_type":"box","text":"Index)","page_number":164,"box":{"x":343,"y":630,"width":48,"height":11}},{"id":"26b14058-cc25-4101-a2fd-e9b4ca3d486c","block_type":"box","text":"Indices","page_number":164,"box":{"x":587,"y":605,"width":56,"height":8}},{"id":"1b1aa39c-bc71-458f-a17f-22d0f84e3468","block_type":"box","text":"Equities","page_number":164,"box":{"x":73,"y":647,"width":63,"height":11}},{"id":"a85121c0-0b65-47bf-894e-bf3e36724c83","block_type":"box","text":"69.0%","page_number":164,"box":{"x":343,"y":647,"width":47,"height":9}},{"id":"6c5bb926-a187-4508-bff6-d41ba444a587","block_type":"box","text":"Global Equities","page_number":164,"box":{"x":72,"y":666,"width":111,"height":12}},{"id":"a07021a6-8650-458d-8637-d9390dcd6db9","block_type":"box","text":"22.0%","page_number":164,"box":{"x":343,"y":667,"width":47,"height":8}},{"id":"1bebf741-6e57-4dd1-b9ab-d102aa4b4d5e","block_type":"box","text":"MSCI All Country World Index (Total","page_number":164,"box":{"x":481,"y":666,"width":268,"height":11}},{"id":"79955a63-b742-456f-9e67-ef063f0becaf","block_type":"box","text":"return, GBP)","page_number":164,"box":{"x":569,"y":680,"width":91,"height":11}},{"id":"1e6d72fe-47ee-4b91-b8d4-93347bcfae39","block_type":"box","text":"US Equities","page_number":164,"box":{"x":73,"y":697,"width":85,"height":11}},{"id":"e032be93-2cad-4734-ae48-a818907736f8","block_type":"box","text":"10.0%","page_number":164,"box":{"x":345,"y":697,"width":45,"height":9}},{"id":"4999bf7f-5967-4153-9313-ef8cba2f5b85","block_type":"box","text":"FTSE World North America Index (Total","page_number":164,"box":{"x":468,"y":697,"width":294,"height":11}},{"id":"79261156-b41a-4126-8d00-25f1c3660b9d","block_type":"box","text":"Return)","page_number":164,"box":{"x":588,"y":710,"width":53,"height":11}},{"id":"c16e1816-3e38-4bcf-b96c-bd79b9e23b31","block_type":"box","text":"UK Equities","page_number":164,"box":{"x":73,"y":728,"width":85,"height":11}},{"id":"19fd96a1-746c-47bd-b408-1183d1a3f771","block_type":"box","text":"21.5%","page_number":164,"box":{"x":343,"y":728,"width":47,"height":8}},{"id":"61b4a883-b1f3-4a40-a900-58235e6db807","block_type":"box","text":"FTSE All-Share Index","page_number":164,"box":{"x":535,"y":727,"width":160,"height":9}},{"id":"675f1f73-364c-45e9-a573-e95b160c2393","block_type":"box","text":"Europe ex UK Equities","page_number":164,"box":{"x":73,"y":747,"width":167,"height":11}},{"id":"94045b54-ce1b-4eea-9750-9bd4959f6fee","block_type":"box","text":"8.0%","page_number":164,"box":{"x":348,"y":747,"width":37,"height":8}},{"id":"67922a7b-08a9-433c-9e15-284930f24995","block_type":"box","text":"FTSE World Europe ex UK Index (Total","page_number":164,"box":{"x":469,"y":747,"width":292,"height":11}},{"id":"681c3721-fbd4-4963-82bf-0a26f9c515bc","block_type":"box","text":"Return)","page_number":164,"box":{"x":588,"y":760,"width":53,"height":11}},{"id":"da28d9d5-3469-4974-942d-168aaa7a7aee","block_type":"box","text":"Japan Equities","page_number":164,"box":{"x":72,"y":777,"width":109,"height":11}},{"id":"03165511-a493-49cb-8c22-63c026fcc084","block_type":"box","text":"2.5%","page_number":164,"box":{"x":348,"y":777,"width":37,"height":9}},{"id":"67a183cd-848b-47c5-85e5-dc2d4c8f8ea1","block_type":"box","text":"FTSE Japan Index (Total Return)","page_number":164,"box":{"x":492,"y":777,"width":245,"height":11}},{"id":"8138756d-c4b8-4146-8a15-4673c45a334c","block_type":"box","text":"Pacific ex Japan Equities","page_number":164,"box":{"x":73,"y":796,"width":184,"height":11}},{"id":"d0e8f246-a932-4256-bc77-311cb23953e0","block_type":"box","text":"3.0%","page_number":164,"box":{"x":348,"y":797,"width":37,"height":8}},{"id":"3228f80c-a4f3-4423-b7fd-fa6cc340934c","block_type":"box","text":"MSCI Pacific ex Japan Index (Total","page_number":164,"box":{"x":485,"y":796,"width":260,"height":11}},{"id":"73188a6a-0092-43f6-b4e3-0020e1474a36","block_type":"box","text":"Return)","page_number":164,"box":{"x":588,"y":809,"width":53,"height":12}},{"id":"eda8bbb0-ab5e-4b71-b822-1932c0b554f9","block_type":"box","text":"Emerging Equities","page_number":164,"box":{"x":73,"y":827,"width":134,"height":11}},{"id":"3e46f611-cb18-4fa0-8be3-0aab11f2eef8","block_type":"box","text":"2.0%","page_number":164,"box":{"x":348,"y":827,"width":37,"height":8}},{"id":"637feb5e-bb3f-4b88-99ed-2cb731d0dacb","block_type":"box","text":"MSCI Emerging Markets Index (Total","page_number":164,"box":{"x":478,"y":827,"width":274,"height":11}},{"id":"d64245d6-89b6-40ef-8c54-31ddb0c20e1f","block_type":"box","text":"Return)","page_number":164,"box":{"x":588,"y":840,"width":53,"height":11}},{"id":"93b44195-4b16-4f6c-9b1c-3930382ae15d","block_type":"box","text":"Fixed Income","page_number":164,"box":{"x":73,"y":857,"width":105,"height":9}},{"id":"db54d177-d566-4648-b127-ae2465f8b866","block_type":"box","text":"26.5%","page_number":164,"box":{"x":343,"y":856,"width":47,"height":9}},{"id":"f2e20b08-ccd1-477f-8e58-1ac6247045e4","block_type":"box","text":"Global Government","page_number":164,"box":{"x":72,"y":877,"width":144,"height":8}},{"id":"130ffaaf-d0b4-482e-80e9-0eeb89155baf","block_type":"box","text":"Bonds","page_number":164,"box":{"x":72,"y":889,"width":46,"height":9}},{"id":"500c2d54-50e7-498d-b6bd-b5ce79bdb126","block_type":"box","text":"7.0%","page_number":164,"box":{"x":348,"y":876,"width":37,"height":8}},{"id":"89112f1d-3d09-497e-b47a-ed8e05776b53","block_type":"box","text":"Bloomberg Global Treasury Total Return","page_number":164,"box":{"x":465,"y":875,"width":300,"height":11}},{"id":"8b5fdf7a-d952-4e7c-9522-d79ba591916f","block_type":"box","text":"Index Hedged to GBP","page_number":164,"box":{"x":534,"y":891,"width":162,"height":11}},{"id":"9fba9b2a-4e5e-43a7-9615-87265bea788a","block_type":"box","text":"UK Government Bonds","page_number":164,"box":{"x":73,"y":909,"width":170,"height":9}},{"id":"9b4202eb-72cb-4124-a6ba-dee236556fb4","block_type":"box","text":"4.5%","page_number":164,"box":{"x":348,"y":908,"width":37,"height":9}},{"id":"91f520dd-ccf3-4f57-99e8-c377100ae741","block_type":"box","text":"FTSE Actuaries UK Conventional Gilts","page_number":164,"box":{"x":473,"y":908,"width":284,"height":9}},{"id":"3f150c5e-fa26-45c7-bd36-ec0e8af69cc4","block_type":"box","text":"All Stocks Index (Total Return)","page_number":164,"box":{"x":501,"y":923,"width":226,"height":12}},{"id":"9fc749fb-8c2b-44f3-afdf-9429fd4682d8","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":165,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"679a20cb-01bb-4d5d-84a4-bdc144c63784","block_type":"box","text":"165","page_number":165,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"2a55aa35-c0d2-45d2-b12a-3a9e014b2e5d","block_type":"box","text":"Aviva Investors: Confidential","page_number":165,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"bc59564a-69f3-4da5-a111-23ef6550a787","block_type":"box","text":"Global Investment Grade","page_number":165,"box":{"x":72,"y":56,"width":185,"height":9}},{"id":"74e50391-e573-4ccc-b3f0-75bc7312950e","block_type":"box","text":"Corporate Bonds","page_number":165,"box":{"x":72,"y":69,"width":125,"height":11}},{"id":"abe6cace-902c-4684-90e8-16ff8403a0fd","block_type":"box","text":"5.0%","page_number":165,"box":{"x":348,"y":55,"width":37,"height":9}},{"id":"0c962ac8-a82b-4bef-a7af-2d4ffd79ffc8","block_type":"box","text":"Bloomberg Global Aggregate Corporate","page_number":165,"box":{"x":468,"y":55,"width":294,"height":11}},{"id":"73f0a97a-cfa0-42a8-bdd0-414aae9dad70","block_type":"box","text":"Total Return Index Hedged to GBP","page_number":165,"box":{"x":485,"y":71,"width":259,"height":11}},{"id":"f9fe9217-0364-48f9-abd7-592a20431b85","block_type":"box","text":"UK Investment Grade","page_number":165,"box":{"x":73,"y":88,"width":159,"height":9}},{"id":"ea6ce22b-01d7-43b4-a418-2722d4d75fe3","block_type":"box","text":"Corporate Bonds","page_number":165,"box":{"x":72,"y":101,"width":125,"height":11}},{"id":"40a64223-7b7e-4577-9360-420a8a745dd7","block_type":"box","text":"4.0%","page_number":165,"box":{"x":348,"y":88,"width":37,"height":8}},{"id":"9ef957a9-4f24-459c-b2d9-bc121e51c782","block_type":"box","text":"iBoxx GBP Non-Gilts All Stocks Index","page_number":165,"box":{"x":476,"y":87,"width":278,"height":9}},{"id":"ae370a38-47ef-4da7-a5a2-4c9e757b9212","block_type":"box","text":"(Total Return)","page_number":165,"box":{"x":564,"y":103,"width":101,"height":11}},{"id":"73b542d9-4163-435a-a692-6018da18b43f","block_type":"box","text":"Global High Yield","page_number":165,"box":{"x":72,"y":121,"width":128,"height":11}},{"id":"ea6998f6-6a56-4242-8346-7490062eec9e","block_type":"box","text":"1.5%","page_number":165,"box":{"x":349,"y":120,"width":36,"height":8}},{"id":"7fbdafee-d861-4aca-8d43-b57f7b9a5b64","block_type":"box","text":"Bloomberg Global High Yield Index","page_number":165,"box":{"x":485,"y":119,"width":260,"height":12}},{"id":"13f58f7c-a707-4aaa-b8fc-325caa77391f","block_type":"box","text":"Hedged to GBP","page_number":165,"box":{"x":557,"y":135,"width":116,"height":12}},{"id":"3d3914d8-eb13-4133-a1ae-da19608640b9","block_type":"box","text":"Emerging Market Debt","page_number":165,"box":{"x":73,"y":153,"width":166,"height":12}},{"id":"973dfa82-92a2-4c04-9e0a-d8e06d1b906c","block_type":"box","text":"Local Currency","page_number":165,"box":{"x":73,"y":166,"width":111,"height":11}},{"id":"97db8789-985a-433a-90c6-4bef861c583a","block_type":"box","text":"1.5%","page_number":165,"box":{"x":349,"y":152,"width":36,"height":9}},{"id":"1018b80c-4274-437a-bbff-0036f297f06e","block_type":"box","text":"JP Morgan Government Bond Index –","page_number":165,"box":{"x":474,"y":152,"width":282,"height":11}},{"id":"5c877731-da11-48e9-a920-8a60633311c0","block_type":"box","text":"Emerging Markets (GBI-EM) Global","page_number":165,"box":{"x":484,"y":168,"width":262,"height":11}},{"id":"35844ad5-d782-40a3-a9b9-09647ca8c22d","block_type":"box","text":"Diversified","page_number":165,"box":{"x":577,"y":184,"width":76,"height":9}},{"id":"72ac9954-e56a-4e39-9835-ae7da7dc6b1a","block_type":"box","text":"Emerging Market Debt","page_number":165,"box":{"x":73,"y":202,"width":166,"height":11}},{"id":"79d3a062-14ec-41b4-a173-a163d7219b54","block_type":"box","text":"Hard Currency","page_number":165,"box":{"x":73,"y":214,"width":107,"height":12}},{"id":"d960847b-f51a-45c1-b533-9552de2dc84f","block_type":"box","text":"3.0%","page_number":165,"box":{"x":348,"y":201,"width":37,"height":8}},{"id":"bc4f50d5-d2db-41bd-a65c-ae9c6cc7618a","block_type":"box","text":"JP Morgan Emerging Markets Bond","page_number":165,"box":{"x":482,"y":201,"width":265,"height":11}},{"id":"3be8f8a7-ba90-4e07-a7b1-9d1a5023ce74","block_type":"box","text":"Index (EMBI) Global Hedged to GBP","page_number":165,"box":{"x":480,"y":216,"width":271,"height":12}},{"id":"cd3ccc66-6be2-4980-96fd-87ee8707eb41","block_type":"box","text":"(Total Return)","page_number":165,"box":{"x":564,"y":232,"width":101,"height":11}},{"id":"b2c91518-3338-4020-94ad-ef8935777472","block_type":"box","text":"Alternatives","page_number":165,"box":{"x":72,"y":250,"width":95,"height":9}},{"id":"55c42418-d74b-40be-bc9f-80d5c818447f","block_type":"box","text":"3.0%","page_number":165,"box":{"x":348,"y":249,"width":37,"height":9}},{"id":"d57b40a9-3a2d-4aa3-b89b-2090c8cc9571","block_type":"box","text":"Alternative strategies as","page_number":165,"box":{"x":71,"y":269,"width":179,"height":12}},{"id":"7c14ee38-4516-4ae8-a493-c160ac9fc292","block_type":"box","text":"set out in the “Core","page_number":165,"box":{"x":72,"y":282,"width":141,"height":9}},{"id":"a11bf4d5-56cd-4bbe-bdbf-b01afbf4dce4","block_type":"box","text":"investment” section above","page_number":165,"box":{"x":72,"y":295,"width":194,"height":9}},{"id":"402e41b3-2c16-420f-b2e4-dc2f308c51b5","block_type":"box","text":"3.0%","page_number":165,"box":{"x":348,"y":268,"width":37,"height":9}},{"id":"23f2b5a0-8d6f-4220-a230-5b4531e4518a","block_type":"box","text":"Sterling Overnight Index Average","page_number":165,"box":{"x":492,"y":266,"width":245,"height":11}},{"id":"ddd0fda8-1795-4e9c-b2cf-21dc5d6bb98d","block_type":"box","text":"(SONIA) + 3%","page_number":165,"box":{"x":562,"y":280,"width":105,"height":11}},{"id":"c620e5f0-97af-4ea9-93b9-c2d118783efa","block_type":"box","text":"Cash","page_number":165,"box":{"x":72,"y":312,"width":39,"height":9}},{"id":"98dcea75-ae2a-4d0f-82f9-da4044503e9c","block_type":"box","text":"1.5%","page_number":165,"box":{"x":349,"y":311,"width":36,"height":8}},{"id":"709554c4-4682-452e-bc5a-4e31faadf905","block_type":"box","text":"SONIA","page_number":165,"box":{"x":589,"y":310,"width":51,"height":9}},{"id":"a6a1cb08-8cb8-4cae-89d1-740c931c88f4","block_type":"box","text":"The Sub-Fund’s return target is measured against the Composite Benchmark Index over a rolling 5-year period,","page_number":165,"box":{"x":62,"y":342,"width":860,"height":11}},{"id":"b2cb7df6-89d9-41d3-a7f4-099fb3467452","block_type":"box","text":"before the deduction of charges and taxes.","page_number":165,"box":{"x":62,"y":355,"width":316,"height":12}},{"id":"41139347-25f6-43b9-9bb4-9f7eac7e5578","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund's returns and the returns of","page_number":165,"box":{"x":62,"y":377,"width":861,"height":12}},{"id":"b931f2d9-d4b7-46e6-b808-c0c66712f3a7","block_type":"box","text":"the Composite Benchmark Index. In general, the lower the tracking error, the more consistent the Fund’s returns are","page_number":165,"box":{"x":62,"y":391,"width":861,"height":11}},{"id":"26d4c467-76bd-4165-97b9-cf140f29ba63","block_type":"box","text":"relative to the Composite Benchmark Index, and vice-versa. The Sub-Fund is expected to have an average yearly","page_number":165,"box":{"x":63,"y":405,"width":860,"height":11}},{"id":"f78ce5e0-1c30-4160-ad6e-48374daf03c0","block_type":"box","text":"tracking error of between 1.25% and 4.50% when compared to the Composite Benchmark Index excluding charges","page_number":165,"box":{"x":62,"y":418,"width":860,"height":12}},{"id":"528c0387-4c96-4bfa-86a9-a20a3e577699","block_type":"box","text":"and taxes. However, there may be times when the Sub-Fund operates outside of this range.","page_number":165,"box":{"x":62,"y":432,"width":685,"height":11}},{"id":"45b47139-0a7c-4989-b923-8a27ee6babaa","block_type":"box","text":"The Composite Benchmark Index has been selected as a target benchmark for performance and risk measurement","page_number":165,"box":{"x":62,"y":454,"width":861,"height":11}},{"id":"63e3fa22-0e13-4773-b653-77b8920e7e88","block_type":"box","text":"because it is representative of the Sub-Fund’s SAA from which active risk decisions are based. It is therefore an","page_number":165,"box":{"x":62,"y":468,"width":860,"height":11}},{"id":"574546ee-384e-47de-ac3b-63218af30079","block_type":"box","text":"appropriate measure for the Sub-Fund’s performance. For the purposes of calculating performance, the Composite","page_number":165,"box":{"x":62,"y":481,"width":861,"height":12}},{"id":"fcef02f2-4e34-4ef3-b1d7-34835ac62ba6","block_type":"box","text":"Benchmark Index is re-balanced as at the end of each month.","page_number":165,"box":{"x":63,"y":495,"width":455,"height":9}},{"id":"7f85b365-01ed-46c1-98d4-1885ec73593b","block_type":"box","text":"Operation of the SAA and permitted ranges means the Sub-Fund may not have exposure to each overall asset class","page_number":165,"box":{"x":62,"y":517,"width":861,"height":11}},{"id":"544ee921-87d6-46a5-859b-bcba90f21b38","block_type":"box","text":"or sub-asset class component and will not have exposure to every asset comprising the Composite Benchmark Index.","page_number":165,"box":{"x":62,"y":531,"width":860,"height":11}},{"id":"82f6934d-e76d-4e41-ba83-1cf6965d8fa5","block_type":"box","text":"Equally the Sub-Fund may also have exposure to assets that do not form part of it. The Sub-Fund’s returns could","page_number":165,"box":{"x":63,"y":544,"width":860,"height":11}},{"id":"a3d4b2ba-cf8a-4574-8cd3-2452676d18f0","block_type":"box","text":"therefore be different from those of the Composite Benchmark Index.","page_number":165,"box":{"x":62,"y":558,"width":510,"height":11}},{"id":"d9685e8a-dc21-4f86-95b3-83c03ae282ed","block_type":"box","text":"Additional Information","page_number":165,"box":{"x":62,"y":619,"width":177,"height":9}},{"id":"9b27a7e0-25ba-47f7-aeda-06ae9e46eac8","block_type":"box","text":"Investment Manager","page_number":165,"box":{"x":118,"y":645,"width":151,"height":12}},{"id":"bdc21473-cb5d-4da8-91a5-8b85ab6ad51a","block_type":"box","text":"Schroder Investment Management Limited","page_number":165,"box":{"x":353,"y":645,"width":315,"height":12}},{"id":"95f2b09e-4bdf-4efe-86da-67907beaf2bd","block_type":"box","text":"Type of Units","page_number":165,"box":{"x":116,"y":671,"width":98,"height":12}},{"id":"ae8d0eff-5eb1-4ff5-90dd-cd90daa13f00","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":165,"box":{"x":353,"y":671,"width":292,"height":11}},{"id":"1163c320-73a6-4a0e-8110-034c58af04cf","block_type":"box","text":"Dealing Day","page_number":165,"box":{"x":118,"y":698,"width":89,"height":11}},{"id":"cedfab66-19a0-4957-9df8-6040c3ca33c0","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":165,"box":{"x":354,"y":698,"width":393,"height":11}},{"id":"b990676d-c0be-480d-ab36-7fe92987d4f5","block_type":"box","text":"Deal Cut-Off Point","page_number":165,"box":{"x":118,"y":724,"width":134,"height":9}},{"id":"fb75446a-a048-4104-a4be-b58257398a09","block_type":"box","text":"1.00 p.m.","page_number":165,"box":{"x":354,"y":724,"width":66,"height":11}},{"id":"58c05703-6215-4165-9f2c-4d48dc074edb","block_type":"box","text":"Valuation Point","page_number":165,"box":{"x":117,"y":750,"width":112,"height":9}},{"id":"9ef8fead-e7ca-44d4-895b-fa9b9c3a5c69","block_type":"box","text":"3.00 p.m.","page_number":165,"box":{"x":353,"y":750,"width":67,"height":11}},{"id":"1daceb3c-9421-4093-b9f2-b9d99eae2da4","block_type":"box","text":"*Minimum Investment","page_number":165,"box":{"x":117,"y":776,"width":172,"height":9}},{"id":"dd8c4d28-c57b-4ef8-a0f8-3dbaf1051345","block_type":"box","text":"UK Corporate Income","page_number":165,"box":{"x":118,"y":802,"width":160,"height":11}},{"id":"72902466-b8c0-4e39-96a6-f5035c33b7fc","block_type":"box","text":"Distribution Units","page_number":165,"box":{"x":118,"y":816,"width":124,"height":8}},{"id":"be83a122-eca0-4801-9c21-b1403f982980","block_type":"box","text":"No minimum","page_number":165,"box":{"x":353,"y":802,"width":92,"height":9}},{"id":"60fef5ef-af7f-48e3-b39f-0f08e4a37fd0","block_type":"box","text":"Minimum withdrawal","page_number":165,"box":{"x":117,"y":848,"width":150,"height":9}},{"id":"2ca502d0-8a36-4918-a580-6a6661668908","block_type":"box","text":"No minimum","page_number":165,"box":{"x":353,"y":848,"width":92,"height":9}},{"id":"3be607f4-ae31-4e07-a3e6-986043e73fff","block_type":"box","text":"Tax Criteria for investment","page_number":165,"box":{"x":116,"y":874,"width":213,"height":9}},{"id":"f90cc135-3b1c-497a-96ee-fc46b06c8dc3","block_type":"box","text":"UK Corporate Income","page_number":165,"box":{"x":118,"y":900,"width":160,"height":11}},{"id":"f538deae-9775-47e9-823a-37fc1e49f142","block_type":"box","text":"Distribution Units","page_number":165,"box":{"x":118,"y":914,"width":124,"height":9}},{"id":"355250f7-f749-4362-bc1f-08b2245707b6","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":165,"box":{"x":352,"y":900,"width":404,"height":11}},{"id":"54a9f76d-065f-4a4f-b37a-fa617d8585f3","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":165,"box":{"x":353,"y":914,"width":404,"height":11}},{"id":"b726a826-a40b-44d6-b28d-8aaaba188876","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":166,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"c27f30b8-899e-43de-8ea0-fb70169f68eb","block_type":"box","text":"166","page_number":166,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"cf5dd59b-055e-4676-9cb3-8f39fb3c1dbf","block_type":"box","text":"Aviva Investors: Confidential","page_number":166,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"26e050da-3c18-461d-adc5-5e1c4a45c5b8","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":166,"box":{"x":352,"y":53,"width":405,"height":11}},{"id":"4901e769-f909-47a3-ba99-5212dbe68bec","block_type":"box","text":"linked pension business contracts.","page_number":166,"box":{"x":353,"y":67,"width":253,"height":11}},{"id":"6cafe41c-1443-4e5f-b121-5393962c7043","block_type":"box","text":"**Current Charges:","page_number":166,"box":{"x":117,"y":93,"width":149,"height":11}},{"id":"c123eb9a-dfae-421f-9b89-dc5f3f82ca26","block_type":"box","text":"UK Corporate Income","page_number":166,"box":{"x":118,"y":119,"width":160,"height":11}},{"id":"d8ec317c-dfb3-499d-b77e-fc7a6302188a","block_type":"box","text":"Distribution Units","page_number":166,"box":{"x":118,"y":133,"width":124,"height":9}},{"id":"9f0f2613-6396-4b12-881e-cfede1a4bfd2","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":166,"box":{"x":352,"y":119,"width":404,"height":11}},{"id":"2b738d64-447f-4a1a-9661-b5074d9b30b7","block_type":"box","text":"Unitholder","page_number":166,"box":{"x":353,"y":133,"width":75,"height":9}},{"id":"bace18f4-8a95-4011-abed-dd7860cb81d8","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":166,"box":{"x":352,"y":152,"width":404,"height":11}},{"id":"b02fa6a3-45c8-4c1d-926e-bd6b10a74a5d","block_type":"box","text":"property","page_number":166,"box":{"x":353,"y":167,"width":60,"height":10}},{"id":"78701bf8-e3ac-478a-b7fb-c41b84510230","block_type":"box","text":"Accounting Dates","page_number":166,"box":{"x":117,"y":186,"width":141,"height":11}},{"id":"c96e24f3-470f-41d5-b237-eaebaca3652b","block_type":"box","text":"Annual Accounting Date","page_number":166,"box":{"x":116,"y":212,"width":180,"height":12}},{"id":"c8c51d29-b90f-46b3-ba8f-e77d6bdf5b05","block_type":"box","text":"31 December","page_number":166,"box":{"x":353,"y":212,"width":100,"height":9}},{"id":"a1ea6ff3-d689-4d11-81f2-c8fd5ed2f5db","block_type":"box","text":"First Accounting Date","page_number":166,"box":{"x":118,"y":239,"width":158,"height":11}},{"id":"4a669bf6-ff06-4b29-aaf1-a658733f65d3","block_type":"box","text":"31 December 2015","page_number":166,"box":{"x":353,"y":239,"width":141,"height":8}},{"id":"9a37fde1-d727-44d5-b181-8e713a4d86b5","block_type":"box","text":"Annual Income Allocation","page_number":166,"box":{"x":116,"y":265,"width":188,"height":8}},{"id":"3902eeed-b70e-4462-9f17-1cc3495f75ac","block_type":"box","text":"Date","page_number":166,"box":{"x":118,"y":278,"width":33,"height":9}},{"id":"ec7cf96a-8225-4d6e-b41b-3316adbffde5","block_type":"box","text":"On or before 28 /29 February","page_number":166,"box":{"x":353,"y":264,"width":217,"height":12}},{"id":"7e5e5dd6-3a14-4372-957f-76a3513a6688","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":166,"box":{"x":118,"y":304,"width":293,"height":11}},{"id":"b194471f-cf52-455a-85f5-2e6089312d96","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":166,"box":{"x":62,"y":330,"width":861,"height":11}},{"id":"9fe90813-06e1-42cf-a0d5-aed03810ac4a","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":166,"box":{"x":62,"y":344,"width":408,"height":11}},{"id":"d3cd1985-160d-4139-8613-7264fc0e086f","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":166,"box":{"x":62,"y":364,"width":642,"height":11}},{"id":"5207cf3c-8581-429b-ab24-0690c8a51940","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":166,"box":{"x":62,"y":383,"width":860,"height":11}},{"id":"abf35cc4-163c-4798-b54d-6b44dfa900df","block_type":"box","text":"this Prospectus.","page_number":166,"box":{"x":62,"y":397,"width":117,"height":11}},{"id":"80f027be-8bf2-4cb7-b00a-6aa1b4ce298a","block_type":"box","text":"□","page_number":166,"box":{"x":62,"y":418,"width":5,"height":4}},{"id":"e800c26b-4b95-4c85-8c99-6cd282699e96","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":166,"box":{"x":74,"y":416,"width":342,"height":9}},{"id":"9908b1bb-086e-43b1-90f5-d2c8f1703df6","block_type":"box","text":"Securities Financing and other Transactions:","page_number":166,"box":{"x":62,"y":456,"width":358,"height":11}},{"id":"0afd1b0f-d088-4701-8b8d-8d0084b5f3ae","block_type":"box","text":"The types of assets which may be subject to TRS are limited to:","page_number":166,"box":{"x":62,"y":475,"width":471,"height":11}},{"id":"a03d8006-87b8-4f9e-986c-8264c801ae29","block_type":"box","text":"","page_number":166,"box":{"x":92,"y":499,"width":6,"height":4}},{"id":"d9867f0d-2d2d-4d60-a021-118ac56800ba","block_type":"box","text":"Equity Securities; and","page_number":166,"box":{"x":110,"y":496,"width":160,"height":11}},{"id":"0712336c-eb57-4319-b96d-0f480652f770","block_type":"box","text":"","page_number":166,"box":{"x":92,"y":519,"width":6,"height":5}},{"id":"a455cdf1-d2bf-4841-8a28-599805902421","block_type":"box","text":"Emerging Market Debt","page_number":166,"box":{"x":110,"y":516,"width":167,"height":11}},{"id":"5ca65e7c-be03-4714-a413-f0d2a587634d","block_type":"box","text":"The assets which may be subject to securities lending or repo transactions will be limited to the financial instruments","page_number":166,"box":{"x":62,"y":536,"width":860,"height":11}},{"id":"c08c19ae-77ab-42af-a09c-06a4277c2538","block_type":"box","text":"permitted by the Sub-Fund’s investment policy.","page_number":166,"box":{"x":62,"y":549,"width":347,"height":12}},{"id":"db0413bd-cc29-4cc6-ba99-c04b0ad54215","block_type":"box","text":"Given that the Sub-Fund’s assets cannot be described as being ‘subject to’ TRS, the maximum and expected","page_number":166,"box":{"x":62,"y":569,"width":860,"height":11}},{"id":"b17e0351-9cad-4a91-a0b8-d784aa0d693f","block_type":"box","text":"percentages of TRS are given as the gross aggregate notional of TRS as a percentage of the NAV.","page_number":166,"box":{"x":62,"y":583,"width":734,"height":11}},{"id":"aa98435d-4d99-444c-8bf1-0ca012b5b8cb","block_type":"box","text":"The maximum proportion of the assets of the Sub-Fund which may be subject to TRS, securities lending or repo","page_number":166,"box":{"x":62,"y":602,"width":830,"height":11}},{"id":"74d3a456-7ea2-44db-b485-534b94cefcd1","block_type":"box","text":"transactions is as follows:","page_number":166,"box":{"x":62,"y":618,"width":188,"height":9}},{"id":"32d4c096-e74b-4de3-b38c-cb5ba9f140c2","block_type":"box","text":"Total Return Swaps","page_number":166,"box":{"x":71,"y":654,"width":133,"height":11}},{"id":"b17ea2e2-2a39-4d23-adfa-91b14e3651ee","block_type":"box","text":"1","page_number":166,"box":{"x":461,"y":654,"width":5,"height":8}},{"id":"3742af3f-0efb-427d-a249-ab42744bb9b8","block_type":"box","text":"2","page_number":166,"box":{"x":468,"y":654,"width":8,"height":8}},{"id":"2a850006-e290-401b-882f-d98ba9e049b0","block_type":"box","text":"%","page_number":166,"box":{"x":477,"y":655,"width":11,"height":8}},{"id":"06ada060-72aa-43d2-a501-cd8dc18274ad","block_type":"box","text":"Securities Lending","page_number":166,"box":{"x":72,"y":676,"width":125,"height":11}},{"id":"477fcfc3-65d2-4fb4-a29d-61bb8c95a50f","block_type":"box","text":"50%","page_number":166,"box":{"x":460,"y":676,"width":28,"height":9}},{"id":"35f4162c-0b25-471a-939f-5182667c9dcf","block_type":"box","text":"Repo Transactions","page_number":166,"box":{"x":71,"y":698,"width":125,"height":11}},{"id":"4f28fa82-bd9a-4e93-867c-3c049ec0abe6","block_type":"box","text":"50%","page_number":166,"box":{"x":460,"y":698,"width":28,"height":9}},{"id":"e46a6d49-a1dc-4081-b370-737b21171244","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":166,"box":{"x":62,"y":767,"width":823,"height":11}},{"id":"dd58e6cb-4da4-45bc-9d9d-4ed0afff41eb","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to TRS, securities lending or","page_number":166,"box":{"x":62,"y":783,"width":833,"height":11}},{"id":"7238c8cb-57a6-4720-8a5a-e0042d8ff640","block_type":"box","text":"repo transactions is as follows:","page_number":166,"box":{"x":63,"y":799,"width":226,"height":11}},{"id":"bd17d8fe-6c9c-4f43-bf14-a9aaa01117f4","block_type":"box","text":"Total Return Swaps","page_number":166,"box":{"x":71,"y":835,"width":133,"height":11}},{"id":"95864c00-df93-4e68-bac8-d0679a8a3ba9","block_type":"box","text":"8%","page_number":166,"box":{"x":460,"y":835,"width":20,"height":8}},{"id":"a4e76a5d-5cc2-4006-b0a0-55e957417f5c","block_type":"box","text":"Securities Lending","page_number":166,"box":{"x":72,"y":857,"width":125,"height":11}},{"id":"025f3fa2-3467-4d9a-9d34-31d9a565079d","block_type":"box","text":"15","page_number":166,"box":{"x":461,"y":857,"width":14,"height":8}},{"id":"ee0664c5-f8fb-4e69-a726-cb70a482a184","block_type":"box","text":"%","page_number":166,"box":{"x":477,"y":857,"width":11,"height":8}},{"id":"640cac5c-83b2-4c60-b268-522badedb28c","block_type":"box","text":"Repo Transactions","page_number":166,"box":{"x":71,"y":879,"width":125,"height":11}},{"id":"601849fd-423d-4ee8-b657-b155e1fe008d","block_type":"box","text":"7.5%","page_number":166,"box":{"x":459,"y":879,"width":33,"height":8}},{"id":"53377e31-819a-45fd-b1e2-fa4b151d9014","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":167,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"bb5f6af0-97f7-49ae-b00a-0ea385b4e260","block_type":"box","text":"167","page_number":167,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"c72596ef-139e-4389-8a1d-9a01dd35c0c9","block_type":"box","text":"Aviva Investors: Confidential","page_number":167,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"e861939e-0fe6-450d-b4eb-9f1b0829e7e4","block_type":"box","text":"The expected proportion of AUM subject to TRS, securities lending or repo transactions is indicative only and,","page_number":167,"box":{"x":62,"y":53,"width":817,"height":11}},{"id":"407023f8-060a-4cba-8796-4695b64fdf37","block_type":"box","text":"depending on market conditions and the strategies employed, the actual exposure may be outside of that range at","page_number":167,"box":{"x":62,"y":68,"width":845,"height":11}},{"id":"a4ff9606-0b51-4de2-b0ab-4a7c429a8148","block_type":"box","text":"any given point in time. There may be times when there the proportion of AUM subject to TRS, securities lending or","page_number":167,"box":{"x":62,"y":84,"width":854,"height":11}},{"id":"1bf555e2-f1a0-4f1a-abf6-a2adb786b541","block_type":"box","text":"repo transactions is zero.","page_number":167,"box":{"x":63,"y":100,"width":184,"height":11}},{"id":"1ce1ded9-7f48-4bf4-b4ad-a440eb586a68","block_type":"box","text":"Leverage","page_number":167,"box":{"x":63,"y":147,"width":72,"height":11}},{"id":"35fe624a-ce62-40f7-90d7-92539d6e3522","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of achieving the investment objective,","page_number":167,"box":{"x":63,"y":166,"width":859,"height":12}},{"id":"07ea0744-630c-41e9-a7d4-5d6e9d085cda","block_type":"box","text":"risk reduction or efficient portfolio management.","page_number":167,"box":{"x":63,"y":180,"width":351,"height":11}},{"id":"1395e2aa-dd9c-403f-8b02-6061d9f26618","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":167,"box":{"x":62,"y":213,"width":860,"height":12}},{"id":"e0bfc14e-aff1-4eef-8a45-80e023d49ce7","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":167,"box":{"x":62,"y":227,"width":649,"height":11}},{"id":"5ed59bbd-0b0b-4d48-864d-e53c8d36f424","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":167,"box":{"x":62,"y":254,"width":755,"height":11}},{"id":"ad7ce1c1-9e5b-4458-90a1-83862930ab2c","block_type":"box","text":"Permitted derivatives","page_number":167,"box":{"x":72,"y":284,"width":168,"height":9}},{"id":"80604048-3d25-4c9f-866c-86860d2aeb39","block_type":"box","text":"Permitted?","page_number":167,"box":{"x":383,"y":284,"width":85,"height":9}},{"id":"5ed0af1e-a5e6-4268-882f-82047b338cda","block_type":"box","text":"Prohibited?","page_number":167,"box":{"x":489,"y":284,"width":91,"height":9}},{"id":"7048005d-571b-4c5d-b209-e0c8c61ff963","block_type":"box","text":"Equity index futures","page_number":167,"box":{"x":72,"y":305,"width":146,"height":11}},{"id":"506df677-d65c-4558-af14-87849be7cd27","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":302,"width":8,"height":12}},{"id":"929ee088-b397-4159-8742-d7d0b0679dc5","block_type":"box","text":"Government bond futures","page_number":167,"box":{"x":72,"y":323,"width":188,"height":9}},{"id":"906eb46a-8b6d-441d-a4d8-e1b20c798e5f","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":321,"width":8,"height":11}},{"id":"3b41a522-631b-4c2a-b977-2147c8148c59","block_type":"box","text":"Equity index options","page_number":167,"box":{"x":72,"y":342,"width":148,"height":11}},{"id":"f68f8f4e-522b-4897-9be9-7b6fa9b079da","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":339,"width":8,"height":12}},{"id":"b18394ce-f2f7-4ff7-82ff-be1164885985","block_type":"box","text":"Forward foreign exchange","page_number":167,"box":{"x":72,"y":360,"width":193,"height":11}},{"id":"495e6c06-504e-4cb8-a390-11feb46a9902","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":358,"width":8,"height":11}},{"id":"c18319e5-383e-4d21-bd80-2bfc7d4028ae","block_type":"box","text":"Index credit default swaps","page_number":167,"box":{"x":72,"y":378,"width":192,"height":11}},{"id":"5524ea5d-930a-449a-91ea-07a7e64040b6","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":376,"width":8,"height":11}},{"id":"140f6d53-3383-4c54-af78-02a9376f26aa","block_type":"box","text":"Interest rate swaps","page_number":167,"box":{"x":72,"y":397,"width":140,"height":11}},{"id":"ee8addf4-9753-4d12-8470-c6c6501061d6","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":394,"width":8,"height":12}},{"id":"5b288431-6b8a-4f86-a217-862ece499d19","block_type":"box","text":"OTC equity options","page_number":167,"box":{"x":72,"y":415,"width":142,"height":11}},{"id":"84f8ad81-f946-458e-b9f5-91cd4eeb8f04","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":413,"width":8,"height":11}},{"id":"ab4ea493-3bfc-441a-8739-a254f56dbe03","block_type":"box","text":"Inflation swaps","page_number":167,"box":{"x":72,"y":434,"width":109,"height":11}},{"id":"b528c353-032e-4d70-8869-860af9c55076","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":431,"width":8,"height":12}},{"id":"63c3c6d4-3b6a-4500-81a5-521bf7b1f7a7","block_type":"box","text":"Cross currency swaps","page_number":167,"box":{"x":72,"y":452,"width":163,"height":11}},{"id":"3911e93f-2087-487d-ae70-93b764802013","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":450,"width":8,"height":11}},{"id":"72d48622-1ade-4bab-8ad0-6b54bf01a27e","block_type":"box","text":"TRS","page_number":167,"box":{"x":71,"y":470,"width":33,"height":9}},{"id":"09ad641c-ae79-4050-b693-550b055f0b05","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":468,"width":8,"height":12}},{"id":"c3456f8b-127c-45af-bc3b-ffdb57070632","block_type":"box","text":"Other","page_number":167,"box":{"x":72,"y":489,"width":41,"height":9}},{"id":"0c72f70f-3955-4e31-ab11-c5a1876b447b","block_type":"box","text":"√","page_number":167,"box":{"x":422,"y":487,"width":8,"height":11}},{"id":"4bd3d4a2-409c-468d-ac47-6db738265b86","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":167,"box":{"x":63,"y":517,"width":860,"height":11}},{"id":"a9b5fb57-3f2f-4d6e-be34-4d696dc1ed28","block_type":"box","text":"2)","page_number":167,"box":{"x":62,"y":530,"width":13,"height":12}},{"id":"983b57b8-421f-46a1-bb52-c48ca8f74499","block_type":"box","text":"Leverage Limits","page_number":167,"box":{"x":63,"y":558,"width":128,"height":11}},{"id":"1ecb39d0-88af-4a08-9166-b4091e0ce4a4","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":167,"box":{"x":200,"y":558,"width":722,"height":11}},{"id":"0c09fd03-5b51-4e61-9d78-4b0b2bacf3d6","block_type":"box","text":"Regime):","page_number":167,"box":{"x":63,"y":571,"width":65,"height":12}},{"id":"d2e0f77e-9487-42e8-9ad5-6d027bb708f5","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":167,"box":{"x":62,"y":599,"width":471,"height":11}},{"id":"4bca23e4-0eef-4a32-b8b6-020f86ac38c5","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":630,"width":6,"height":4}},{"id":"c30d74b9-eceb-4994-ae7a-1be5395d9bb2","block_type":"box","text":"Gross Method: Up to 1.8:1","page_number":167,"box":{"x":92,"y":627,"width":193,"height":11}},{"id":"0495830e-b99c-4ed9-80bc-513dc9f3e14b","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":644,"width":6,"height":5}},{"id":"a7d675ef-ed50-4262-b48c-e43faaeb02ff","block_type":"box","text":"Commitment: Up to 1.6:1","page_number":167,"box":{"x":92,"y":641,"width":183,"height":11}},{"id":"5dbab786-43fd-4284-835d-b2773143f0bd","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":167,"box":{"x":62,"y":668,"width":860,"height":12}},{"id":"bd839c32-caa5-48bd-8140-8448863a9960","block_type":"box","text":"which case leverage will not exceed the following:","page_number":167,"box":{"x":62,"y":682,"width":368,"height":11}},{"id":"bd1474fe-7d3b-4583-a35e-01d0e4a6bcad","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":714,"width":6,"height":4}},{"id":"0710aad6-0131-4cad-be84-f49f97c2bc0c","block_type":"box","text":"Gross Method: Up to 3.0:1","page_number":167,"box":{"x":92,"y":710,"width":193,"height":12}},{"id":"1a6187f8-bd2e-4ae2-a663-674cafd2b117","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":728,"width":6,"height":4}},{"id":"fc4f6236-1675-43f2-95a0-aafb9e00fa81","block_type":"box","text":"Commitment: Up to 2.0:1","page_number":167,"box":{"x":92,"y":725,"width":183,"height":11}},{"id":"c31aed9e-aa7c-45f6-916a-e028a4f2b414","block_type":"box","text":"Specific Risks","page_number":167,"box":{"x":62,"y":758,"width":113,"height":11}},{"id":"b3489103-4809-4deb-b3ab-eba811e6f3a5","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":167,"box":{"x":181,"y":758,"width":462,"height":11}},{"id":"0ff9db35-123c-46ff-aae0-dafbc987aab9","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":782,"width":6,"height":4}},{"id":"64c1b6cc-188e-46eb-9287-74ae11c3599d","block_type":"box","text":"Emerging Markets","page_number":167,"box":{"x":93,"y":779,"width":134,"height":11}},{"id":"30364ac9-81dc-47a2-8a09-2c0758aee021","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":796,"width":6,"height":4}},{"id":"7f3c675d-ef90-4067-9c5d-d15b58f67547","block_type":"box","text":"Smaller Companies","page_number":167,"box":{"x":92,"y":793,"width":145,"height":11}},{"id":"0d5453fe-564d-468a-8ab6-81b0c775f161","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":810,"width":6,"height":5}},{"id":"fcef8829-3c5a-4501-b1d1-303dd34a2029","block_type":"box","text":"Fixed Interest","page_number":167,"box":{"x":93,"y":808,"width":100,"height":8}},{"id":"f507d36a-d8b9-4b01-aa3c-98c4f1d125b5","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":825,"width":6,"height":4}},{"id":"ef5bc9c3-0e73-4574-a464-4ae896f0395c","block_type":"box","text":"Index-Linked","page_number":167,"box":{"x":93,"y":822,"width":93,"height":9}},{"id":"c4ad6cf2-f9e4-4be7-9f0e-feca0e684b46","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":839,"width":6,"height":5}},{"id":"7afee4bc-043d-4040-b38c-33a9fe2cfac1","block_type":"box","text":"Alternatives","page_number":167,"box":{"x":92,"y":836,"width":86,"height":9}},{"id":"2abd9c97-854d-496b-a77a-46cf4a3ad0f2","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":854,"width":6,"height":4}},{"id":"831a4350-debe-4696-8e34-9a630f18b023","block_type":"box","text":"Equity Securities","page_number":167,"box":{"x":93,"y":851,"width":123,"height":11}},{"id":"2ddf1813-8417-4f2c-893b-32864ffaf0ce","block_type":"box","text":"","page_number":167,"box":{"x":62,"y":868,"width":6,"height":5}},{"id":"cd193289-3462-43db-8e49-3dd7c5d5d296","block_type":"box","text":"Benchmark Indices","page_number":167,"box":{"x":93,"y":865,"width":140,"height":9}},{"id":"67c65184-6540-4742-ba33-496db3624435","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":168,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"242b893a-962d-456e-a6a9-1bff56af5251","block_type":"box","text":"168","page_number":168,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"c555622f-2f66-429c-a0c4-ee5e7f2a2ac0","block_type":"box","text":"Aviva Investors: Confidential","page_number":168,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"cb583ad6-9613-423d-a74d-800a4cfe7ca5","block_type":"box","text":"Past Performance – AI Balanced Life Fund","page_number":168,"box":{"x":72,"y":59,"width":335,"height":9}},{"id":"986aecbb-8db6-4dda-b6e3-1bcde7e94645","block_type":"box","text":"% Growth","page_number":168,"box":{"x":71,"y":79,"width":77,"height":9}},{"id":"46e691ce-e688-4f3a-9ee6-35228938e1aa","block_type":"box","text":"1/1/2024 to","page_number":168,"box":{"x":290,"y":104,"width":94,"height":8}},{"id":"c91655a2-c6fc-412e-8ea7-90eab58fba71","block_type":"box","text":"31/12/2024","page_number":168,"box":{"x":289,"y":117,"width":75,"height":8}},{"id":"ab440c8b-8aba-41b4-bf8a-f381b65121ee","block_type":"box","text":"1/1/2023 to","page_number":168,"box":{"x":404,"y":104,"width":94,"height":8}},{"id":"4235c1e9-7019-438a-95b2-a52e6aae73aa","block_type":"box","text":"31/12/2023","page_number":168,"box":{"x":403,"y":117,"width":75,"height":8}},{"id":"6ed8c8e8-e7d9-44c8-971a-7fc7d2248241","block_type":"box","text":"1/1/2022 to","page_number":168,"box":{"x":517,"y":104,"width":94,"height":8}},{"id":"161e8e1c-9fe4-4214-800f-4315d6433f8e","block_type":"box","text":"31/12/2022","page_number":168,"box":{"x":516,"y":117,"width":75,"height":8}},{"id":"a8c55e79-7a04-495d-8445-4a2e1ef6afcd","block_type":"box","text":"1/1/2021 to","page_number":168,"box":{"x":631,"y":104,"width":94,"height":8}},{"id":"0010ff12-9ab1-4faa-9b11-d652a29601cd","block_type":"box","text":"31/12/2021","page_number":168,"box":{"x":630,"y":117,"width":73,"height":8}},{"id":"026817d1-6e1a-40b8-843c-d313ca38f42d","block_type":"box","text":"1/1/2020 to","page_number":168,"box":{"x":744,"y":104,"width":94,"height":8}},{"id":"63623501-17b8-4e33-a0d6-470a2df45146","block_type":"box","text":"31/12/2020","page_number":168,"box":{"x":743,"y":117,"width":75,"height":8}},{"id":"bfc41667-ec50-4dd1-8917-12b95be12ca8","block_type":"box","text":"UK Corporate Income","page_number":168,"box":{"x":72,"y":141,"width":198,"height":11}},{"id":"1b98f0ec-e14f-4b5f-a100-d803427c7864","block_type":"box","text":"Distribution Units (%)","page_number":168,"box":{"x":72,"y":154,"width":140,"height":10}},{"id":"a296aac7-919b-4f9c-9cf8-4f088b80aca7","block_type":"box","text":"8.76","page_number":168,"box":{"x":290,"y":142,"width":28,"height":8}},{"id":"352a0411-42c5-4ce5-8fe3-8443edfef727","block_type":"box","text":"7.26","page_number":168,"box":{"x":403,"y":142,"width":29,"height":8}},{"id":"31fe2908-7d24-4c5a-be27-bdd61819a6f5","block_type":"box","text":"-11.29","page_number":168,"box":{"x":517,"y":142,"width":41,"height":8}},{"id":"fec0df04-356a-4691-92bf-06871481ba29","block_type":"box","text":"11.0","page_number":168,"box":{"x":631,"y":142,"width":28,"height":8}},{"id":"3b08c3a1-7d66-4cbf-83c3-d4f28c9e5c0b","block_type":"box","text":"8.3","page_number":168,"box":{"x":743,"y":142,"width":20,"height":8}},{"id":"1a507ffe-2683-48ff-bfc8-30586ced5fb4","block_type":"box","text":"Insured Pension Income","page_number":168,"box":{"x":72,"y":185,"width":198,"height":7}},{"id":"03017ac5-6028-4c66-978a-e28c99447c5b","block_type":"box","text":"Distribution Units (%)","page_number":168,"box":{"x":72,"y":197,"width":140,"height":10}},{"id":"4deff271-06ed-4e67-ac5a-ef0019b37504","block_type":"box","text":"UK Institutional Accumulation","page_number":168,"box":{"x":72,"y":222,"width":198,"height":8}},{"id":"1711c718-7fd9-4e44-a835-b958808c9ad7","block_type":"box","text":"Units (%)","page_number":168,"box":{"x":72,"y":234,"width":60,"height":10}},{"id":"9ac260a4-dde5-4b94-8ecc-8c0384025646","block_type":"box","text":"ACS (Fund of Fund)","page_number":168,"box":{"x":71,"y":259,"width":199,"height":10}},{"id":"d019f5d6-0892-44ce-923f-b5e212a67d58","block_type":"box","text":"Accumulation Units Class 1","page_number":168,"box":{"x":71,"y":271,"width":197,"height":8}},{"id":"985a271b-82f1-48d4-ba27-939d0aaa16b3","block_type":"box","text":"(%)","page_number":168,"box":{"x":72,"y":283,"width":21,"height":10}},{"id":"f2eebdbf-f423-4f10-a9e9-31bdf33d6b5f","block_type":"box","text":"ACS (Fund of Fund)","page_number":168,"box":{"x":71,"y":308,"width":199,"height":10}},{"id":"d5cc6883-05eb-419a-804c-1e773b28ece0","block_type":"box","text":"Accumulation Units Class 2","page_number":168,"box":{"x":71,"y":320,"width":199,"height":8}},{"id":"7cde2efc-859f-4704-97ed-b5df524c57cb","block_type":"box","text":"(%)","page_number":168,"box":{"x":72,"y":333,"width":21,"height":10}},{"id":"e35e62b4-1104-4b13-87d0-c1a19235eb86","block_type":"box","text":"UK Corporate Accumulation","page_number":168,"box":{"x":72,"y":357,"width":198,"height":10}},{"id":"ff6aebb3-603e-400f-9bb8-9fec81aca1f5","block_type":"box","text":"Units (%)","page_number":168,"box":{"x":72,"y":370,"width":60,"height":10}},{"id":"8438dbf6-59dd-4a84-ac2e-224bddf197f9","block_type":"box","text":"Insured Pension","page_number":168,"box":{"x":72,"y":395,"width":198,"height":7}},{"id":"a06053ab-e9d5-47f7-87cb-d7c8f542114f","block_type":"box","text":"Accumulation Units (%)","page_number":168,"box":{"x":71,"y":407,"width":156,"height":10}},{"id":"1d2e9c18-e0f4-4c18-9b05-68b4fdd61b5f","block_type":"box","text":"UK Fund of Fund","page_number":168,"box":{"x":72,"y":432,"width":198,"height":8}},{"id":"93bf2f30-9421-4281-900f-673fc349c586","block_type":"box","text":"Accumulation Units (%)","page_number":168,"box":{"x":71,"y":444,"width":156,"height":10}},{"id":"0d4e6722-17db-4801-9b07-b6daf3109c9f","block_type":"box","text":"Composite Benchmark Index","page_number":168,"box":{"x":73,"y":471,"width":199,"height":10}},{"id":"ab958828-3ff9-4f06-a443-7c7d6236a674","block_type":"box","text":"(as defined in the","page_number":168,"box":{"x":73,"y":484,"width":198,"height":10}},{"id":"2853efda-407c-4818-90ae-bac7b286630f","block_type":"box","text":"Performance & Risk","page_number":168,"box":{"x":72,"y":496,"width":200,"height":8}},{"id":"2f204c64-4eeb-42c5-961f-ae784ac41ae5","block_type":"box","text":"Measurement section of the","page_number":168,"box":{"x":72,"y":508,"width":199,"height":8}},{"id":"e0597f59-2ccb-42cf-8c17-02bcdee83a42","block_type":"box","text":"Investment Policy) plus 1.25%","page_number":168,"box":{"x":72,"y":521,"width":199,"height":10}},{"id":"985efe15-a5b9-4f09-a68c-2a7b5b0c637b","block_type":"box","text":"(From 1 December 2021 to 29","page_number":168,"box":{"x":73,"y":533,"width":199,"height":10}},{"id":"9d070bd9-a582-44d8-928b-4573150fb695","block_type":"box","text":"May 2026 the Sub-Fund","page_number":168,"box":{"x":72,"y":545,"width":200,"height":10}},{"id":"fa5b0bfc-ee65-4739-ab7a-a4c650744108","block_type":"box","text":"targeted capital and income","page_number":168,"box":{"x":72,"y":558,"width":199,"height":10}},{"id":"04b2d262-ac26-40e9-b53a-6b0e731370c9","block_type":"box","text":"equivalent to SONIA plus 4%.","page_number":168,"box":{"x":72,"y":570,"width":198,"height":10}},{"id":"88e68a98-32d1-49e4-9439-5893a0040c97","block_type":"box","text":"Prior to 1 December 2021, the","page_number":168,"box":{"x":72,"y":582,"width":199,"height":9}},{"id":"b60048fa-495b-4c98-b93c-eeeaef0c339b","block_type":"box","text":"comparator benchmark was","page_number":168,"box":{"x":72,"y":595,"width":199,"height":9}},{"id":"b139a3f6-34e1-441c-bc59-92fd626c0c2e","block_type":"box","text":"UK GBP 3 Month LIBOR plus","page_number":168,"box":{"x":73,"y":607,"width":198,"height":10}},{"id":"d5ae59de-b743-4150-b5f3-6749340afd95","block_type":"box","text":"4%. Performance data shown","page_number":168,"box":{"x":72,"y":619,"width":199,"height":8}},{"id":"4f452cfc-bc36-4eab-8ed4-2450cb4f132d","block_type":"box","text":"prior to these dates therefore,","page_number":168,"box":{"x":71,"y":631,"width":199,"height":10}},{"id":"fc564df6-47a5-47b2-b7af-f05937d667c9","block_type":"box","text":"relates to these previous","page_number":168,"box":{"x":72,"y":644,"width":199,"height":9}},{"id":"2384a55f-fb0c-4578-a8b4-b6379424415e","block_type":"box","text":"benchmarks)","page_number":168,"box":{"x":72,"y":656,"width":87,"height":10}},{"id":"08a363d6-48c7-4c25-99fd-f2bae69fc000","block_type":"box","text":"9.42","page_number":168,"box":{"x":290,"y":472,"width":29,"height":7}},{"id":"968e4c12-299a-4079-88b3-7fb97ea679d4","block_type":"box","text":"8.90","page_number":168,"box":{"x":404,"y":472,"width":29,"height":7}},{"id":"57dd49ee-d421-4c43-8360-fd5e0e78fa91","block_type":"box","text":"5.41","page_number":168,"box":{"x":517,"y":472,"width":28,"height":7}},{"id":"37633fe0-8183-426f-973c-83cde30ef306","block_type":"box","text":"4.1","page_number":168,"box":{"x":630,"y":472,"width":20,"height":7}},{"id":"5e7f23a9-a2f0-4450-99d8-c0be8a02ec5c","block_type":"box","text":"0.3","page_number":168,"box":{"x":744,"y":472,"width":21,"height":7}},{"id":"5f27e702-41d5-49f5-9830-c1d00ce1c834","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":169,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"a8dc4ed5-80b9-454f-87aa-4b7123b39339","block_type":"box","text":"169","page_number":169,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"efb82614-2611-482a-a2ce-b7a1686dead3","block_type":"box","text":"Aviva Investors: Confidential","page_number":169,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"36d85aa7-42c2-4a67-bed9-0697fd7f12db","block_type":"box","text":"AI Cautious Pension Fund","page_number":169,"box":{"x":62,"y":53,"width":207,"height":8}},{"id":"f1b99179-c1cb-4635-b2d7-1f52a41bff24","block_type":"box","text":"FCA product reference number: 658325","page_number":169,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"f8395be3-f06b-4699-8689-5ed42fd91644","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":169,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"82deb5e3-7449-40b5-a274-f065d41ead74","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":169,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"1926ac20-b7a1-4126-8dec-ce3ee403d476","block_type":"box","text":"Investment Objective and Policy","page_number":169,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"633a4212-9ec6-4403-9bce-fe5cb973d6f5","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more), through a combination of capital","page_number":169,"box":{"x":62,"y":184,"width":860,"height":11}},{"id":"ac87c59c-0859-4a88-8ace-e88702fb37d2","block_type":"box","text":"and income returns, and aims to outperform the Composite Benchmark Index by 1.00% (average annualised returns,","page_number":169,"box":{"x":62,"y":197,"width":860,"height":12}},{"id":"adc926eb-a274-40c4-9aad-5518598f7c43","block_type":"box","text":"before the deduction of charges and taxes, measured over rolling 5-year periods).","page_number":169,"box":{"x":62,"y":211,"width":605,"height":11}},{"id":"becac3a1-bffe-4fdb-bfa4-a13c2a7a76ec","block_type":"box","text":"Core investment:","page_number":169,"box":{"x":62,"y":233,"width":135,"height":9}},{"id":"12f4c8ef-3b5f-467c-997d-51249c4bd675","block_type":"box","text":"The Sub-Fund invests in a broad range of global asset classes (including in emerging markets) that may include","page_number":169,"box":{"x":62,"y":252,"width":861,"height":12}},{"id":"ee6c4de8-b0ed-4592-9dce-941ac75290ac","block_type":"box","text":"shares, bonds issued by companies or governments (which can be investment grade and sub-investment grade),","page_number":169,"box":{"x":62,"y":266,"width":860,"height":11}},{"id":"1ff9796f-3f13-4d7b-a7b2-049cd09c20e8","block_type":"box","text":"cash, and alternative strategies (such as commodities, real estate, hedge funds, alternative risk premia, and absolute","page_number":169,"box":{"x":62,"y":280,"width":861,"height":11}},{"id":"d2b59f8c-d434-4ee8-93fd-8e9810a95582","block_type":"box","text":"return strategies). Exposure to alternative strategies will be gained through investment in other funds (including funds","page_number":169,"box":{"x":63,"y":294,"width":860,"height":11}},{"id":"fe7cfbf5-bb79-42ad-b31e-7dbc2dd2d66d","block_type":"box","text":"managed by Aviva Investors companies or the Investment Manager). Exposure to the other asset classes will be","page_number":169,"box":{"x":62,"y":307,"width":861,"height":11}},{"id":"c54cc87f-6593-48b4-9d67-7f1913716f84","block_type":"box","text":"gained through investment in other funds (including funds managed by Aviva Investors companies or the Investment","page_number":169,"box":{"x":62,"y":321,"width":861,"height":11}},{"id":"2c8b36df-663e-49b8-8c64-dea7b386b92b","block_type":"box","text":"Manager) and also by investing directly in these assets, or through the use of derivatives.","page_number":169,"box":{"x":63,"y":335,"width":659,"height":11}},{"id":"155b109d-e760-46ad-b4ac-c3cb45063123","block_type":"box","text":"A maximum of 20% can be invested in sub-investment grade bonds (directly or through other funds). At least 60% of","page_number":169,"box":{"x":62,"y":357,"width":861,"height":11}},{"id":"449966a6-1f51-4832-9439-3d8deb74d4f6","block_type":"box","text":"the Sub-Fund’s underlying assets (directly or on look through to the currencies of the underlying assets of other funds)","page_number":169,"box":{"x":62,"y":370,"width":860,"height":11}},{"id":"476ae0c2-08d1-4607-8246-507ffa4f454b","block_type":"box","text":"will be held in US Dollars, Sterling or Euros, with a minimum of 30% in Sterling (including hedged back to Sterling).","page_number":169,"box":{"x":62,"y":384,"width":848,"height":11}},{"id":"efe9c144-b199-4030-9f15-446f3a168011","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":169,"box":{"x":63,"y":406,"width":860,"height":11}},{"id":"758972ae-c36d-46f2-9574-505a71760bd9","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":169,"box":{"x":62,"y":419,"width":861,"height":12}},{"id":"10873910-d8a7-4133-9f42-5d97a83f8868","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":169,"box":{"x":62,"y":433,"width":545,"height":11}},{"id":"66eee5fc-b9bc-485d-8a95-fb9c157a151a","block_type":"box","text":"Strategy:","page_number":169,"box":{"x":62,"y":455,"width":70,"height":11}},{"id":"4c5c0f95-94da-4694-9a42-22623c0186cb","block_type":"box","text":"The Sub-Fund is actively managed, and seeks to meet the return objective through investment in a diversified range","page_number":169,"box":{"x":62,"y":475,"width":861,"height":11}},{"id":"dff9eab3-e921-4550-a44b-acb54110c8ee","block_type":"box","text":"of global asset classes. The Fund uses a strategic asset allocation (SAA) to target an investment outcome consistent","page_number":169,"box":{"x":62,"y":488,"width":861,"height":12}},{"id":"7f6e56d9-d256-4c76-ad11-88b451f8512b","block_type":"box","text":"with the Fund’s risk profile and return target whilst ensuring sufficient diversification. The Fund uses target asset","page_number":169,"box":{"x":62,"y":502,"width":861,"height":11}},{"id":"551f8e28-26aa-4f8b-9d4e-f6d2e183e731","block_type":"box","text":"allocation to determine, within a range, the Fund’s allocation to the different asset classes. The Investment Manager","page_number":169,"box":{"x":62,"y":516,"width":861,"height":11}},{"id":"a9edfbc3-c6fc-46b9-9ddb-ee54d4721685","block_type":"box","text":"seeks out opportunities where markets are considered to be mispriced relative to their fundamental outlook.","page_number":169,"box":{"x":62,"y":529,"width":795,"height":11}},{"id":"57886a9f-e133-4e24-b671-f96d02b14986","block_type":"box","text":"The SAA has been designed to provide a framework for tactical decision making and to allow for tactical changes to","page_number":169,"box":{"x":62,"y":562,"width":861,"height":12}},{"id":"97567d38-c618-452d-9133-028d72040280","block_type":"box","text":"the asset mix, aiming to capitalise on specific investment opportunities. This flexibility allows the Fund to try to take","page_number":169,"box":{"x":62,"y":576,"width":861,"height":11}},{"id":"37ae3443-e86d-4e2f-afca-8b30f1eb709d","block_type":"box","text":"advantage of perceived pricing anomalies or to participate in economic conditions seen as more favourable for one","page_number":169,"box":{"x":62,"y":590,"width":861,"height":11}},{"id":"6ef8a5b0-a962-4c1e-958a-c489ac6ec8d4","block_type":"box","text":"asset class, sector or specific asset relative to others.","page_number":169,"box":{"x":62,"y":604,"width":395,"height":11}},{"id":"76280d14-0854-4e41-9acc-c01482545a26","block_type":"box","text":"Without limitation to the thresholds set out in the “Core investment” section above, the asset allocation of the Sub","page_number":169,"box":{"x":62,"y":631,"width":860,"height":10}},{"id":"f84a1d47-1ce6-4ad8-9be5-97c63b4dcd0a","block_type":"box","text":"Fund is expected to fall within the following permitted ranges relative to the equivalent weight of the relevant overall","page_number":169,"box":{"x":63,"y":644,"width":859,"height":12}},{"id":"070d2c68-f3ea-4bb6-aab8-1f90254ef560","block_type":"box","text":"asset class or sub-asset class components of the Composite Benchmark Index (as shown in the Performance & Risk","page_number":169,"box":{"x":62,"y":658,"width":861,"height":11}},{"id":"00cf9d5e-e546-4438-96aa-362b841d4587","block_type":"box","text":"Measurement section below). Where the Sub-Fund invests indirectly through other funds, the Investment Manager","page_number":169,"box":{"x":63,"y":672,"width":860,"height":11}},{"id":"328ec8cf-7c23-4ca2-92fe-ce7af93b8470","block_type":"box","text":"will look through to the assets held by the other funds in order to allocate these exposures to the relevant overall or","page_number":169,"box":{"x":62,"y":686,"width":861,"height":11}},{"id":"f9563e4a-0698-4a38-a66f-e1b95c2fa47d","block_type":"box","text":"sub-asset class component and range.","page_number":169,"box":{"x":62,"y":699,"width":286,"height":11}},{"id":"74e57cb0-5042-47d0-9815-1489c9f4564e","block_type":"box","text":"Asset Class","page_number":169,"box":{"x":68,"y":727,"width":94,"height":9}},{"id":"1eed010f-c09c-4034-9d99-e8295dc43f93","block_type":"box","text":"Total exposure of","page_number":169,"box":{"x":389,"y":727,"width":225,"height":11}},{"id":"af02b838-b088-4410-9743-148fc2821ddb","block_type":"box","text":"Composite Benchmark","page_number":169,"box":{"x":389,"y":741,"width":225,"height":11}},{"id":"c1c785d6-8a8d-47a7-9531-70759426ad68","block_type":"box","text":"Index to Asset Class (% of","page_number":169,"box":{"x":390,"y":754,"width":224,"height":11}},{"id":"e8c2cf2c-2c7d-4a78-bf3a-021b381a73d7","block_type":"box","text":"Composite Benchmark","page_number":169,"box":{"x":389,"y":768,"width":225,"height":11}},{"id":"65b244fa-0558-4d0c-b854-4c437301fb47","block_type":"box","text":"Index)","page_number":169,"box":{"x":390,"y":782,"width":47,"height":11}},{"id":"c2db1b51-21bd-4dd0-aa28-d295cf1ca34e","block_type":"box","text":"Permitted Range for","page_number":169,"box":{"x":616,"y":727,"width":188,"height":11}},{"id":"92e36e77-90e0-4f8b-9bc5-03f8b3e73d75","block_type":"box","text":"Sub-Fund (% of Sub","page_number":169,"box":{"x":616,"y":741,"width":182,"height":11}},{"id":"0bbd10f5-d49a-428e-a260-627af6f0f0aa","block_type":"box","text":"Fund)","page_number":169,"box":{"x":616,"y":754,"width":45,"height":11}},{"id":"b55ccdc8-42f9-45f0-bbf2-cea284ac0f65","block_type":"box","text":"Equities (permitted range applied to","page_number":169,"box":{"x":69,"y":796,"width":277,"height":11}},{"id":"3a74217f-bec4-420d-8e6a-9b86ff2d6f47","block_type":"box","text":"both","page_number":169,"box":{"x":356,"y":796,"width":31,"height":9}},{"id":"0101e163-b386-42ad-88c4-8198e478d085","block_type":"box","text":"overall asset class and sub-","page_number":169,"box":{"x":68,"y":810,"width":230,"height":8}},{"id":"9cea73db-a41e-4a0a-b1fc-e9ea874db102","block_type":"box","text":"asset class","page_number":169,"box":{"x":299,"y":810,"width":88,"height":8}},{"id":"7d9e6ec5-96e5-424e-ab26-293fa90c0ba9","block_type":"box","text":"components, as shown in the Performance","page_number":169,"box":{"x":68,"y":823,"width":319,"height":11}},{"id":"334d8c37-fdc6-4740-b7b2-b25cc2882ade","block_type":"box","text":"& Risk Measurement section below)*/***","page_number":169,"box":{"x":68,"y":837,"width":298,"height":11}},{"id":"3c1d4025-0f55-4338-9632-c3886f8987d1","block_type":"box","text":"43.0%","page_number":169,"box":{"x":389,"y":796,"width":46,"height":9}},{"id":"1c56a54b-8b3d-4e08-81f1-22f2c033b9dd","block_type":"box","text":"+/-3%","page_number":169,"box":{"x":616,"y":796,"width":43,"height":9}},{"id":"ba1e5fc9-6643-44b2-8896-03cdf5e4fe3e","block_type":"box","text":"Fixed Income (permitted range applied to","page_number":169,"box":{"x":69,"y":851,"width":318,"height":11}},{"id":"5a105b83-cb63-4c33-8e1b-f687db324c44","block_type":"box","text":"overall asset class component","page_number":169,"box":{"x":68,"y":865,"width":232,"height":11}},{"id":"4867fe40-0251-4c3b-8304-d2f008a6593d","block_type":"box","text":", subject to","page_number":169,"box":{"x":302,"y":865,"width":85,"height":11}},{"id":"ab3b5fe1-74b5-4810-b510-2a2402ae811a","block_type":"box","text":"the permitted ranges applying to the sub","page_number":169,"box":{"x":68,"y":879,"width":319,"height":11}},{"id":"b9232d13-9e67-4f78-801d-bf7367045b00","block_type":"box","text":"asset class components set out below)***","page_number":169,"box":{"x":68,"y":892,"width":307,"height":11}},{"id":"7fae4db1-3ef5-4cb4-9ba9-3e49b0d91407","block_type":"box","text":"52.5%","page_number":169,"box":{"x":389,"y":851,"width":46,"height":9}},{"id":"3be385b2-079f-41c8-8a71-00b5917059a4","block_type":"box","text":"+/-5%","page_number":169,"box":{"x":616,"y":851,"width":43,"height":9}},{"id":"8a6e86b9-b148-4f2c-bda8-9d7123545f8f","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":170,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"8a6bf7e8-2cf7-4761-beca-e761cdf6533e","block_type":"box","text":"170","page_number":170,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"062b7d48-2f74-44de-b7cf-786f6eff3695","block_type":"box","text":"Aviva Investors: Confidential","page_number":170,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"683f7577-e2d3-4597-9881-156e5f06e102","block_type":"box","text":"Fixed Income – permitted range for","page_number":170,"box":{"x":69,"y":53,"width":266,"height":11}},{"id":"e05a4a01-c60b-4f66-8494-aebda13111b1","block_type":"box","text":"higher","page_number":170,"box":{"x":342,"y":53,"width":46,"height":11}},{"id":"39157fbc-dc99-4df4-be54-bacc9dc8b21e","block_type":"box","text":"risk sub-asset class components","page_number":170,"box":{"x":69,"y":67,"width":255,"height":11}},{"id":"edd7be66-e9c5-4be9-a159-063391005c27","block_type":"box","text":"(Global","page_number":170,"box":{"x":335,"y":67,"width":52,"height":11}},{"id":"a6d42ab4-a3f5-4624-b359-a60296041592","block_type":"box","text":"High Yield & Emerging Market Debt)","page_number":170,"box":{"x":69,"y":80,"width":268,"height":12}},{"id":"0f50f765-9101-4bc7-8870-d4d834eaa155","block_type":"box","text":"6.0%","page_number":170,"box":{"x":389,"y":53,"width":37,"height":9}},{"id":"4e262a2e-7b5b-47de-9316-b9ab95c15c7e","block_type":"box","text":"+/-3%","page_number":170,"box":{"x":616,"y":53,"width":43,"height":9}},{"id":"65d6df72-9678-44b9-898b-742bdadc63f8","block_type":"box","text":"Fixed Income – permitted range for","page_number":170,"box":{"x":69,"y":95,"width":271,"height":11}},{"id":"61f16b83-39de-49eb-a5e5-5acdf58e1a09","block_type":"box","text":"lower","page_number":170,"box":{"x":349,"y":95,"width":39,"height":8}},{"id":"b367599a-987b-4026-b476-70d02916a689","block_type":"box","text":"risk sub-asset class components","page_number":170,"box":{"x":69,"y":108,"width":255,"height":11}},{"id":"f68c597c-9f94-48f2-81e9-fdc1b8c6001b","block_type":"box","text":"(Global","page_number":170,"box":{"x":335,"y":108,"width":52,"height":11}},{"id":"36d1d983-d0b9-4ac7-93c9-e08b11d5e320","block_type":"box","text":"Government Bonds, UK Government","page_number":170,"box":{"x":68,"y":122,"width":319,"height":10}},{"id":"5b971525-a2a3-4e0e-a47c-578d6ce6a50d","block_type":"box","text":"Bonds, Global Investment Grade Corporate","page_number":170,"box":{"x":69,"y":136,"width":318,"height":11}},{"id":"fcf299fb-9e68-4190-bb28-85da6b2292c5","block_type":"box","text":"Bonds & UK Investment Grade Corporate","page_number":170,"box":{"x":69,"y":149,"width":318,"height":11}},{"id":"abd167f8-c9ba-4282-9106-eafa08ea657e","block_type":"box","text":"Bonds)","page_number":170,"box":{"x":69,"y":163,"width":51,"height":11}},{"id":"a8b4a40c-a181-4fe0-92ad-855449b9ddab","block_type":"box","text":"46.5%","page_number":170,"box":{"x":389,"y":95,"width":46,"height":8}},{"id":"0fb39be3-c2da-42ae-9b30-aa5df5785495","block_type":"box","text":"+/-5%","page_number":170,"box":{"x":616,"y":95,"width":43,"height":8}},{"id":"bdbbf057-92f7-4ad4-a35a-69a5f2f6880e","block_type":"box","text":"Alternatives strategies as set out in the","page_number":170,"box":{"x":68,"y":177,"width":319,"height":11}},{"id":"27b916f4-6e84-4371-9737-80e357731527","block_type":"box","text":"“Core Investment” section above (minimum","page_number":170,"box":{"x":68,"y":191,"width":319,"height":11}},{"id":"4c243d76-61d9-4063-9e40-0bfd68b4f5c6","block_type":"box","text":"weight at 0%)","page_number":170,"box":{"x":68,"y":204,"width":100,"height":12}},{"id":"a7bb1588-8c5b-4bb4-bed7-5730d4aa4972","block_type":"box","text":"3.0%","page_number":170,"box":{"x":389,"y":177,"width":37,"height":9}},{"id":"b25aa226-5b7f-4f5a-a5aa-22f9efa12f46","block_type":"box","text":"+/-3%","page_number":170,"box":{"x":616,"y":177,"width":43,"height":9}},{"id":"cac7ce08-fa15-4dee-a349-77852d2600a3","block_type":"box","text":"Cash (minimum weight at 0%)**","page_number":170,"box":{"x":68,"y":219,"width":236,"height":11}},{"id":"41c7bb06-6fec-481e-8505-8f8b52017db8","block_type":"box","text":"1.5%","page_number":170,"box":{"x":390,"y":219,"width":36,"height":9}},{"id":"c25aa523-a479-46c8-b783-48ff8d0908bc","block_type":"box","text":"+/-5%","page_number":170,"box":{"x":616,"y":219,"width":43,"height":9}},{"id":"278df1df-b6d3-4dab-9ea1-e8b2119da5c6","block_type":"box","text":"* The permitted range shall include the market value of any options but shall exclude the notional (and, as relevant,","page_number":170,"box":{"x":62,"y":244,"width":860,"height":11}},{"id":"adcf1197-6c96-4fc2-b38e-f8cf49669a0c","block_type":"box","text":"the delta-adjusted notional) exposure.","page_number":170,"box":{"x":62,"y":257,"width":279,"height":12}},{"id":"c94f4eb7-ccba-4cc7-bccf-dab923f5bc27","block_type":"box","text":"** The permitted range shall not include any permitted borrowing or cash held specifically to cover exposures arising","page_number":170,"box":{"x":62,"y":279,"width":860,"height":12}},{"id":"05502496-b671-4a88-94e6-488ffb01145c","block_type":"box","text":"from derivative transactions.","page_number":170,"box":{"x":62,"y":293,"width":208,"height":9}},{"id":"ddb92a75-a0c6-460c-8291-5c9b84a1aa73","block_type":"box","text":"*** Equity and fixed income exposures shall be allocated to one of the sub-asset class components set out in the","page_number":170,"box":{"x":62,"y":315,"width":861,"height":11}},{"id":"aff379c7-5dd6-48c2-87e7-8b5fb007f07e","block_type":"box","text":"“Performance & Risk Measurement” section below in accordance with the methodology of the corresponding","page_number":170,"box":{"x":62,"y":329,"width":860,"height":11}},{"id":"1b07da1e-0518-4e64-8eac-575e5154d3f0","block_type":"box","text":"benchmark index.","page_number":170,"box":{"x":62,"y":343,"width":130,"height":8}},{"id":"3d9f8769-a6e8-4198-b7fc-b7177b5f9724","block_type":"box","text":"Should exposures fall outside of these ranges, in the case of Equities, Fixed Income and Alternatives, the Investment","page_number":170,"box":{"x":62,"y":364,"width":861,"height":12}},{"id":"c004ff94-5a6b-481a-8d8a-a42ad0e23fa8","block_type":"box","text":"Manager will bring the portfolio back in line with the relevant range prior to the end of calendar month following the","page_number":170,"box":{"x":63,"y":378,"width":859,"height":11}},{"id":"e980f807-8e37-4584-b129-517c740f224f","block_type":"box","text":"calendar month in which the range was exceeded. In the case of Cash, the Investment Manager will bring the portfolio","page_number":170,"box":{"x":62,"y":392,"width":861,"height":11}},{"id":"b0dc054d-8595-48f3-8efe-b831f631d378","block_type":"box","text":"back in line with the range as soon as possible.","page_number":170,"box":{"x":62,"y":405,"width":349,"height":12}},{"id":"59cb445d-4454-4fe7-888e-56401d36bb68","block_type":"box","text":"Notwithstanding the permitted ranges above which illustrate typical exposure to the overall and sub-asset class","page_number":170,"box":{"x":63,"y":425,"width":860,"height":11}},{"id":"18780910-fe64-43d1-9af2-b79bbdd81139","block_type":"box","text":"components, the Sub-fund will ultimately be managed in accordance with the requirements of the Investment","page_number":170,"box":{"x":62,"y":438,"width":861,"height":12}},{"id":"e462763e-119d-4339-bd25-fa8da3c10ef9","block_type":"box","text":"Association Mixed Investment 20-60% Shares sector, and accordingly shall invest between 20% and 60% in the","page_number":170,"box":{"x":62,"y":452,"width":861,"height":11}},{"id":"da9c86e1-32a0-4eee-990b-3721650738f0","block_type":"box","text":"shares of companies (including convertibles), directly or through other funds.","page_number":170,"box":{"x":62,"y":466,"width":591,"height":11}},{"id":"2dca87d4-8d01-43ac-a61c-1ab683040de9","block_type":"box","text":"The Sub-Fund is subject to Aviva","page_number":170,"box":{"x":664,"y":466,"width":259,"height":11}},{"id":"ac4dcbe0-e794-42a5-a4a7-a73203c65031","block_type":"box","text":"Investors’ baseline exclusion policy –","page_number":170,"box":{"x":63,"y":480,"width":289,"height":11}},{"id":"4352f042-5b43-48a4-94cd-7ec14d6b0421","block_type":"box","text":"please see Appendix 2 for information on these limited investment","page_number":170,"box":{"x":361,"y":480,"width":562,"height":11}},{"id":"b9c309fd-b47c-4c1c-a036-38e243a22bb5","block_type":"box","text":"restrictions.","page_number":170,"box":{"x":62,"y":493,"width":94,"height":9}},{"id":"7e4e2e74-3f11-4b68-a7fc-bd34ae8f03b9","block_type":"box","text":"Performance & Risk Measurement:","page_number":170,"box":{"x":63,"y":515,"width":275,"height":9}},{"id":"050e0260-3ac0-4938-ae63-b7126308dcd9","block_type":"box","text":"The Composite Benchmark Index referred to above is made up of the following underlying benchmarks, reflecting the","page_number":170,"box":{"x":62,"y":537,"width":861,"height":11}},{"id":"a75c4639-b046-4053-97e0-b1d33443444b","block_type":"box","text":"overall and sub-asset class components comprising the SAA:","page_number":170,"box":{"x":62,"y":551,"width":453,"height":11}},{"id":"119558b9-38c2-46c3-8a55-489be01f5fd7","block_type":"box","text":"Asset Class and Sub","page_number":170,"box":{"x":72,"y":582,"width":171,"height":8}},{"id":"2561ad80-261d-447a-b687-0258bd3ec3e0","block_type":"box","text":"Asset Class","page_number":170,"box":{"x":72,"y":594,"width":94,"height":9}},{"id":"1efdf71b-886a-46dd-a01e-68c55f1430ef","block_type":"box","text":"Components","page_number":170,"box":{"x":72,"y":607,"width":101,"height":11}},{"id":"c130924b-e340-47e4-8c45-19e122b21ea4","block_type":"box","text":"Weight (% of","page_number":170,"box":{"x":316,"y":582,"width":101,"height":11}},{"id":"87be858e-426d-453a-a7fc-cd3d85bcfcd3","block_type":"box","text":"Composite Benchmark","page_number":170,"box":{"x":276,"y":594,"width":182,"height":11}},{"id":"fa9a3545-311c-4f59-8225-fe092457b15c","block_type":"box","text":"Index)","page_number":170,"box":{"x":343,"y":607,"width":48,"height":11}},{"id":"a918b52b-52ab-4759-9c90-0f63ae3864f2","block_type":"box","text":"Indices","page_number":170,"box":{"x":587,"y":582,"width":56,"height":8}},{"id":"a15ec9d1-64f7-4514-b801-cccbe8e54c1d","block_type":"box","text":"Equities","page_number":170,"box":{"x":73,"y":624,"width":63,"height":11}},{"id":"4d26c034-fd78-4798-a38a-3e61c6c64d51","block_type":"box","text":"43.0%","page_number":170,"box":{"x":343,"y":624,"width":47,"height":9}},{"id":"658bf931-16a8-4f36-ab12-1b884ae89de2","block_type":"box","text":"Global Equities","page_number":170,"box":{"x":72,"y":643,"width":111,"height":12}},{"id":"a11ed73c-643b-4f07-a3c2-8944ee25127e","block_type":"box","text":"14.0%","page_number":170,"box":{"x":345,"y":644,"width":45,"height":8}},{"id":"27aa32c3-4e7d-4935-8411-94ca5e20fc0d","block_type":"box","text":"MSCI All Country World Index (Total","page_number":170,"box":{"x":481,"y":643,"width":268,"height":11}},{"id":"75547e2b-513a-4436-b1cb-f9d0ccaec26e","block_type":"box","text":"Return, GBP)","page_number":170,"box":{"x":566,"y":656,"width":98,"height":12}},{"id":"1fb21d10-0fa6-4d24-aab2-70e17f03bb30","block_type":"box","text":"US Equities","page_number":170,"box":{"x":73,"y":674,"width":85,"height":11}},{"id":"1fe4f023-5d6b-42d7-a55a-f72aa7a14312","block_type":"box","text":"4.5%","page_number":170,"box":{"x":348,"y":674,"width":37,"height":9}},{"id":"bab80155-bb59-4d58-b05e-212b2109a53a","block_type":"box","text":"FTSE World North America Index (Total","page_number":170,"box":{"x":468,"y":674,"width":294,"height":11}},{"id":"8781db5a-32b9-4945-8261-e4181792f22a","block_type":"box","text":"Return)","page_number":170,"box":{"x":588,"y":687,"width":53,"height":11}},{"id":"694a5fba-ee44-4969-9f17-ab9a28e52b60","block_type":"box","text":"UK Equities","page_number":170,"box":{"x":73,"y":705,"width":85,"height":11}},{"id":"f3780172-bff9-469f-868e-5a6616c70e40","block_type":"box","text":"13.5%","page_number":170,"box":{"x":345,"y":705,"width":45,"height":8}},{"id":"4f308468-6411-4ada-9f21-3be7be4346a4","block_type":"box","text":"FTSE All-Share Index","page_number":170,"box":{"x":535,"y":704,"width":161,"height":9}},{"id":"b69c142f-0cce-46dc-abff-eb9ac4f0b19f","block_type":"box","text":"Europe ex UK Equities","page_number":170,"box":{"x":73,"y":724,"width":167,"height":11}},{"id":"f81f334c-ba9e-4b04-b7ed-fa6dbcf44c32","block_type":"box","text":"6.5%","page_number":170,"box":{"x":348,"y":724,"width":37,"height":8}},{"id":"d2f88a1e-0d53-4e8a-a0be-527639bab82b","block_type":"box","text":"FTSE World Europe ex UK Index (Total","page_number":170,"box":{"x":469,"y":723,"width":292,"height":12}},{"id":"e6d4f908-bc41-40f0-9d24-b0ec670cbb56","block_type":"box","text":"Return)","page_number":170,"box":{"x":588,"y":737,"width":53,"height":11}},{"id":"8791a13c-8ada-4731-bdff-f049932cc7b0","block_type":"box","text":"Japan Equities","page_number":170,"box":{"x":72,"y":754,"width":109,"height":11}},{"id":"32991fc3-a80e-48d1-9f19-53cd37b6e250","block_type":"box","text":"1.5%","page_number":170,"box":{"x":349,"y":754,"width":36,"height":9}},{"id":"7981e6b7-e14f-45ed-96ac-7040f1d88fcd","block_type":"box","text":"FTSE Japan Index (Total Return)","page_number":170,"box":{"x":492,"y":754,"width":245,"height":11}},{"id":"cb97c421-3215-410b-abbf-133c5a752e88","block_type":"box","text":"Pacific ex Japan Equities","page_number":170,"box":{"x":73,"y":773,"width":184,"height":11}},{"id":"58ce3bf6-0bf1-4999-9537-68aee4704488","block_type":"box","text":"2.0%","page_number":170,"box":{"x":348,"y":773,"width":37,"height":9}},{"id":"a22d74c7-c17c-4719-a794-de1c3375140e","block_type":"box","text":"MSCI Pacific ex Japan Index (Total","page_number":170,"box":{"x":485,"y":773,"width":260,"height":11}},{"id":"05a8925a-0f16-4a48-b10b-274b918a0512","block_type":"box","text":"Return)","page_number":170,"box":{"x":588,"y":786,"width":53,"height":11}},{"id":"f5d9ad87-22bc-44c1-9d27-b1d6279f8b1f","block_type":"box","text":"Emerging Equities","page_number":170,"box":{"x":73,"y":804,"width":134,"height":11}},{"id":"db0b2961-99e5-4f7f-951a-cbbf5bb8c022","block_type":"box","text":"1.0%","page_number":170,"box":{"x":349,"y":804,"width":36,"height":8}},{"id":"cae8e4a2-37e3-4dfe-8b55-d9b582e7f4d2","block_type":"box","text":"MSCI Emerging Markets Index (Total","page_number":170,"box":{"x":478,"y":804,"width":274,"height":11}},{"id":"918e6d24-dbe3-45d6-b9da-fce0cf007355","block_type":"box","text":"Return)","page_number":170,"box":{"x":588,"y":817,"width":53,"height":11}},{"id":"011f992c-69e2-4070-b14a-0cb99ff0e426","block_type":"box","text":"Fixed Income","page_number":170,"box":{"x":73,"y":834,"width":105,"height":9}},{"id":"a3e171c5-2006-452c-8acc-7a049fa37786","block_type":"box","text":"52.5%","page_number":170,"box":{"x":343,"y":833,"width":47,"height":9}},{"id":"aad2e39d-392e-4f5e-8f31-a70f19a1ee96","block_type":"box","text":"Global Government Bonds","page_number":170,"box":{"x":72,"y":853,"width":196,"height":9}},{"id":"9ac87fdd-27b3-40d5-8d3f-124d32191ce8","block_type":"box","text":"19.0%","page_number":170,"box":{"x":345,"y":853,"width":45,"height":8}},{"id":"add17a3a-83fa-43f0-81e5-daba0b41ec80","block_type":"box","text":"Bloomberg Global Treasury Total Return","page_number":170,"box":{"x":465,"y":852,"width":300,"height":11}},{"id":"90e9f624-196d-4214-b186-7387269e0b6c","block_type":"box","text":"Index Hedged to GBP","page_number":170,"box":{"x":534,"y":868,"width":162,"height":11}},{"id":"d9592f17-4ec2-4a05-9a55-9cc50b59ebba","block_type":"box","text":"UK Government Bonds","page_number":170,"box":{"x":73,"y":886,"width":170,"height":9}},{"id":"5676fb8c-51d6-4e1b-8e60-543d7f78d528","block_type":"box","text":"7.0%","page_number":170,"box":{"x":348,"y":885,"width":37,"height":8}},{"id":"e8f18d53-5cc9-4578-8dec-d27693652ef5","block_type":"box","text":"FTSE Actuaries UK Conventional Gilts","page_number":170,"box":{"x":473,"y":885,"width":284,"height":8}},{"id":"7b6d0efb-a874-4485-91d8-39a4e30bfdc4","block_type":"box","text":"All Stocks Index (Total Return)","page_number":170,"box":{"x":501,"y":900,"width":226,"height":12}},{"id":"c2ba1ba6-9ab8-491a-aef1-b1f0dff4ca30","block_type":"box","text":"Global Investment Grade","page_number":170,"box":{"x":72,"y":918,"width":185,"height":9}},{"id":"8c70e7b7-1879-41cc-a3f8-8942a3b8d208","block_type":"box","text":"13.0%","page_number":170,"box":{"x":345,"y":917,"width":45,"height":9}},{"id":"c94c8dfc-23c0-4daa-acbf-3ac3ae1edf7c","block_type":"box","text":"Bloomberg Global Aggregate Corporate","page_number":170,"box":{"x":468,"y":917,"width":294,"height":11}},{"id":"0cc6e004-e42b-4962-ac9e-425362f1151d","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":171,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"9ae6de73-5656-4d3b-b521-fc10c81b326c","block_type":"box","text":"171","page_number":171,"box":{"x":781,"y":940,"width":16,"height":6}},{"id":"c1fa346c-a10a-43b1-913a-cada67146f74","block_type":"box","text":"Aviva Investors: Confidential","page_number":171,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"087feb20-8134-400e-9a55-a7924eda6d48","block_type":"box","text":"Corporate Bonds","page_number":171,"box":{"x":72,"y":52,"width":125,"height":11}},{"id":"430c29c4-a627-45eb-b24c-302f43f03333","block_type":"box","text":"Total Return Index Hedged to GBP","page_number":171,"box":{"x":485,"y":55,"width":259,"height":11}},{"id":"b013afb1-94e2-4318-93fe-98ec67007439","block_type":"box","text":"UK Investment Grade","page_number":171,"box":{"x":73,"y":75,"width":159,"height":9}},{"id":"e0f996ee-8b64-4fcc-94d9-1bf0b5cb9803","block_type":"box","text":"Corporate Bonds","page_number":171,"box":{"x":72,"y":88,"width":125,"height":11}},{"id":"a050adb1-3b6d-4029-8ded-20a0ba1f6727","block_type":"box","text":"7.5%","page_number":171,"box":{"x":348,"y":74,"width":37,"height":9}},{"id":"20ab633d-f473-48fe-a734-4f9a4f24598e","block_type":"box","text":"iBoxx GBP Non-Gilts All Stocks Index","page_number":171,"box":{"x":476,"y":74,"width":278,"height":9}},{"id":"8c31964d-e3e6-4649-9b57-8c5b3e605f15","block_type":"box","text":"(Total Return)","page_number":171,"box":{"x":564,"y":90,"width":101,"height":11}},{"id":"ba84b486-7326-455b-aa65-3e0a1fe3dba0","block_type":"box","text":"Global High Yield","page_number":171,"box":{"x":72,"y":108,"width":128,"height":11}},{"id":"cfad65f3-0c20-4c53-8453-b2daebedc8d0","block_type":"box","text":"1.5%","page_number":171,"box":{"x":349,"y":107,"width":36,"height":8}},{"id":"411437e3-4706-4975-9823-22cabcf671a9","block_type":"box","text":"Bloomberg Global High Yield Index","page_number":171,"box":{"x":485,"y":106,"width":260,"height":12}},{"id":"7fc3f2ba-53b3-4476-a209-937af3e6becd","block_type":"box","text":"Hedged to GBP","page_number":171,"box":{"x":557,"y":122,"width":116,"height":12}},{"id":"ba5436d5-5c23-4174-bbd0-e1307c8bf6e1","block_type":"box","text":"Emerging Market Debt","page_number":171,"box":{"x":73,"y":140,"width":166,"height":11}},{"id":"d7dbb850-48b2-4b81-bb64-5f21b946b887","block_type":"box","text":"Local Currency","page_number":171,"box":{"x":73,"y":153,"width":111,"height":11}},{"id":"5b26d5ea-4814-4d76-9063-0bd04f3a2a49","block_type":"box","text":"1.5%","page_number":171,"box":{"x":349,"y":139,"width":36,"height":9}},{"id":"a234a929-80ec-4eac-8fb8-5c42528f4514","block_type":"box","text":"JP Morgan Government Bond Index –","page_number":171,"box":{"x":474,"y":139,"width":282,"height":11}},{"id":"6fcd38aa-f8ac-4677-a7c0-18436f932b36","block_type":"box","text":"Emerging Markets (GBI-EM) Global","page_number":171,"box":{"x":484,"y":155,"width":262,"height":11}},{"id":"2b77c4c5-da40-4656-bb9c-b340d56622bb","block_type":"box","text":"Diversified","page_number":171,"box":{"x":577,"y":171,"width":76,"height":9}},{"id":"e098b6c7-15ce-43ca-babc-48d29b2a3f41","block_type":"box","text":"Emerging Market Debt","page_number":171,"box":{"x":73,"y":189,"width":166,"height":11}},{"id":"8ccfce49-0932-4e37-8d8d-ceed56f32d7b","block_type":"box","text":"Hard Currency","page_number":171,"box":{"x":73,"y":201,"width":107,"height":11}},{"id":"3d5e0b76-d55b-43c1-8d91-a2445a6b5620","block_type":"box","text":"3.0%","page_number":171,"box":{"x":348,"y":188,"width":37,"height":8}},{"id":"dc15c287-2abf-4601-b93a-05e4ff14a04c","block_type":"box","text":"JP Morgan Emerging Markets Bond","page_number":171,"box":{"x":482,"y":187,"width":265,"height":11}},{"id":"56a2867d-42e7-4359-bb24-02229bedec44","block_type":"box","text":"Index (EMBI) Global Hedged to GBP","page_number":171,"box":{"x":479,"y":203,"width":272,"height":11}},{"id":"e4f42894-0ff4-4fbd-83d7-59ce1e6b3181","block_type":"box","text":"(Total Return)","page_number":171,"box":{"x":564,"y":219,"width":101,"height":11}},{"id":"35f87fd8-d0e8-4cde-848e-90861dd9a76b","block_type":"box","text":"Alternatives","page_number":171,"box":{"x":72,"y":237,"width":95,"height":9}},{"id":"55bc2015-01ab-494d-9210-0317018cfa1a","block_type":"box","text":"3.0%","page_number":171,"box":{"x":348,"y":236,"width":37,"height":8}},{"id":"df80a1f8-77a3-4b58-a541-a6bcef0f3189","block_type":"box","text":"Alternative strategies as","page_number":171,"box":{"x":71,"y":256,"width":179,"height":11}},{"id":"d8e73695-5cbb-4f94-af5f-0d8ff54bd118","block_type":"box","text":"set out in the “Core","page_number":171,"box":{"x":72,"y":269,"width":141,"height":9}},{"id":"6b0fbab5-2461-4461-ba04-d914583201b6","block_type":"box","text":"investment” section above","page_number":171,"box":{"x":72,"y":282,"width":194,"height":8}},{"id":"fc2725a7-1f34-4744-9e8e-6858d2de97b1","block_type":"box","text":"3.0%","page_number":171,"box":{"x":348,"y":255,"width":37,"height":9}},{"id":"c51dbb56-4874-4ef1-b84e-e512475645f2","block_type":"box","text":"Sterling Overnight Index Average","page_number":171,"box":{"x":492,"y":253,"width":245,"height":11}},{"id":"0b80856f-9e2e-4cd9-97de-2e4887568031","block_type":"box","text":"(SONIA) + 3%","page_number":171,"box":{"x":562,"y":267,"width":105,"height":11}},{"id":"bf8af508-1ea1-4823-b96a-0d127303e60e","block_type":"box","text":"Cash","page_number":171,"box":{"x":72,"y":299,"width":39,"height":9}},{"id":"382a9669-165a-42bd-90a6-54424baca16a","block_type":"box","text":"1.5%","page_number":171,"box":{"x":349,"y":298,"width":36,"height":8}},{"id":"a00ee0ba-eb07-4f7f-aa80-2599d8528ee9","block_type":"box","text":"SONIA","page_number":171,"box":{"x":589,"y":297,"width":51,"height":9}},{"id":"00e3a98d-207a-4ce5-947a-77d356c6e08a","block_type":"box","text":"The Sub-Fund’s return target is measured against the Composite Benchmark Index over a rolling 5-year period,","page_number":171,"box":{"x":62,"y":329,"width":860,"height":11}},{"id":"d0745c43-4c21-446d-b530-42e812e00ebd","block_type":"box","text":"before the deduction of charges and taxes.","page_number":171,"box":{"x":62,"y":342,"width":316,"height":12}},{"id":"8621788c-0fce-42ef-b689-d704283502cf","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund's returns and the returns of","page_number":171,"box":{"x":62,"y":369,"width":861,"height":12}},{"id":"1c7f9f71-598c-4539-9995-b2cd53b34e94","block_type":"box","text":"the Composite Benchmark Index. In general, the lower the tracking error, the more consistent the Fund’s returns are","page_number":171,"box":{"x":62,"y":383,"width":861,"height":11}},{"id":"ac093c1f-6a07-49f2-935d-5afbf5f75c95","block_type":"box","text":"relative to the Composite Benchmark Index, and vice-versa. The Sub-Fund is expected to have an average yearly","page_number":171,"box":{"x":63,"y":397,"width":860,"height":11}},{"id":"184578a9-9ca0-4e42-8484-bb621501bc31","block_type":"box","text":"tracking error of between 1.00% and 3.75% when compared to the Composite Benchmark Index excluding charges","page_number":171,"box":{"x":62,"y":410,"width":860,"height":12}},{"id":"bc19d457-6e3f-4b3a-8de2-477d79251d7a","block_type":"box","text":"and taxes. However, there may be times when the Sub-Fund operates outside of this range.","page_number":171,"box":{"x":62,"y":424,"width":685,"height":11}},{"id":"19263e44-82fe-460e-850c-cd2c301a89fb","block_type":"box","text":"The Composite Benchmark Index has been selected as a target benchmark for performance and risk measurement","page_number":171,"box":{"x":62,"y":451,"width":861,"height":12}},{"id":"c65ec3ee-e74e-4e3b-96a8-bcaf81b9c53f","block_type":"box","text":"because it is representative of the Sub-Fund’s SAA from which active risk decisions are based. It is therefore an","page_number":171,"box":{"x":62,"y":465,"width":860,"height":11}},{"id":"88adc2da-5cb8-4dc7-8274-711632fd7cd0","block_type":"box","text":"appropriate measure for the Sub-Fund’s performance. For the purposes of calculating performance, the Composite","page_number":171,"box":{"x":62,"y":479,"width":861,"height":11}},{"id":"c7ccd77c-a161-430e-ad60-5b2fa141f390","block_type":"box","text":"Benchmark Index is re-balanced as at the end of each month.","page_number":171,"box":{"x":63,"y":493,"width":455,"height":8}},{"id":"e1692029-35c3-44c4-8041-e5e73853e6a0","block_type":"box","text":"Operation of the SAA and permitted ranges means the Sub-Fund may not have exposure to each overall asset class","page_number":171,"box":{"x":62,"y":514,"width":861,"height":12}},{"id":"86df9882-d14b-4ea5-87a5-4c8cf5e2c054","block_type":"box","text":"or sub-asset class component and will not have exposure to every asset comprising the Composite Benchmark Index.","page_number":171,"box":{"x":62,"y":528,"width":860,"height":11}},{"id":"a9763245-0753-4675-8aaf-22671c5c9baa","block_type":"box","text":"Equally the Sub-Fund may also have exposure to assets that do not form part of it. The Sub-Fund’s returns could","page_number":171,"box":{"x":63,"y":542,"width":860,"height":11}},{"id":"25d88e7c-100c-4cf5-aa94-26454848cdae","block_type":"box","text":"therefore be different from those of the Composite Benchmark Index.","page_number":171,"box":{"x":62,"y":555,"width":510,"height":12}},{"id":"a9a3ff69-c625-471a-9f78-4c5849465821","block_type":"box","text":"Additional Information","page_number":171,"box":{"x":62,"y":575,"width":177,"height":9}},{"id":"5539b17b-82e0-4cca-b7d5-b02d14ec0778","block_type":"box","text":"Investment Manager","page_number":171,"box":{"x":118,"y":601,"width":151,"height":12}},{"id":"060988c3-08fb-43e5-9d62-b41b6fc8b3df","block_type":"box","text":"Schroder Investment Management Limited","page_number":171,"box":{"x":353,"y":601,"width":315,"height":12}},{"id":"ecba179a-903f-49e4-821a-e719d70964eb","block_type":"box","text":"Type of Units","page_number":171,"box":{"x":116,"y":627,"width":98,"height":12}},{"id":"e08febcf-2056-407f-ba98-aafc414e5002","block_type":"box","text":"Insured Pension Income Distribution Units","page_number":171,"box":{"x":354,"y":628,"width":310,"height":8}},{"id":"5d0ff3f3-6c08-4587-a830-6a057eb1873a","block_type":"box","text":"UK Corporate Accumulation Units","page_number":171,"box":{"x":353,"y":653,"width":250,"height":12}},{"id":"23c41d7f-0a71-4763-b343-54694c83147a","block_type":"box","text":"Dealing Day","page_number":171,"box":{"x":118,"y":680,"width":89,"height":11}},{"id":"eae20480-f364-4186-a9cd-72e0ad1dfff4","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":171,"box":{"x":354,"y":680,"width":393,"height":11}},{"id":"8b8a1ebe-7cb0-415c-9ca1-23613921f23b","block_type":"box","text":"Deal Cut-Off Point","page_number":171,"box":{"x":118,"y":706,"width":134,"height":9}},{"id":"32ce6d63-7e83-4466-a01b-81984704c72a","block_type":"box","text":"1.00 p.m.","page_number":171,"box":{"x":354,"y":706,"width":66,"height":11}},{"id":"28a9e331-67bc-4f32-a972-940055af3ee2","block_type":"box","text":"Valuation Point","page_number":171,"box":{"x":117,"y":732,"width":112,"height":9}},{"id":"151f9fd9-51a9-44a7-9e96-d33191c730dd","block_type":"box","text":"3.00 p.m.","page_number":171,"box":{"x":353,"y":732,"width":67,"height":11}},{"id":"a6f91655-cada-4582-831f-63f3bf530a1c","block_type":"box","text":"*Minimum Investment","page_number":171,"box":{"x":117,"y":758,"width":172,"height":9}},{"id":"fa4e40e0-e747-4de7-b1f1-7ff1f22136b0","block_type":"box","text":"Insured Pension Income","page_number":171,"box":{"x":118,"y":784,"width":179,"height":9}},{"id":"30be3b36-1003-43ca-8ab2-b119b0a46ded","block_type":"box","text":"Distribution Units, UK","page_number":171,"box":{"x":118,"y":798,"width":158,"height":10}},{"id":"3b696cf4-cbf7-4fa4-bba7-731a89a5ed78","block_type":"box","text":"Corporate Accumulation","page_number":171,"box":{"x":117,"y":811,"width":178,"height":11}},{"id":"bea73f84-7638-4267-b217-85a32042120c","block_type":"box","text":"Units","page_number":171,"box":{"x":118,"y":825,"width":36,"height":9}},{"id":"82f9a123-a7d2-4677-a6da-4b377d01fcdf","block_type":"box","text":"No minimum","page_number":171,"box":{"x":353,"y":784,"width":92,"height":9}},{"id":"a5306556-bef7-43d1-ae08-ee3517066d55","block_type":"box","text":"Minimum withdrawal","page_number":171,"box":{"x":117,"y":851,"width":150,"height":9}},{"id":"d54b015d-21ff-4b24-b6d4-ee56c0a84698","block_type":"box","text":"No minimum","page_number":171,"box":{"x":353,"y":851,"width":92,"height":9}},{"id":"c3259ba8-86e5-42ad-b306-06bee5e5175d","block_type":"box","text":"Tax Criteria for investment","page_number":171,"box":{"x":116,"y":877,"width":213,"height":9}},{"id":"1b8881ce-128c-434e-802d-4ebf1c0f3270","block_type":"box","text":"Insured Pension Income","page_number":171,"box":{"x":118,"y":903,"width":179,"height":9}},{"id":"5608d740-c9ca-4010-9c1e-2b4d6fe69177","block_type":"box","text":"Distribution Units","page_number":171,"box":{"x":118,"y":917,"width":124,"height":9}},{"id":"0b9dabe1-f0bf-4fe6-8dbf-48bd31e90f40","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":171,"box":{"x":352,"y":903,"width":404,"height":11}},{"id":"f2e23869-3c23-4619-8f05-c10aaf1cab4d","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":171,"box":{"x":353,"y":917,"width":404,"height":11}},{"id":"5c9dc329-f992-41ce-ab42-53503ce4dd17","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":172,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"873a9d17-750c-4244-a06c-7341b6e2acb7","block_type":"box","text":"172","page_number":172,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"bb916f7d-5c41-40bf-a315-63cf989f867c","block_type":"box","text":"Aviva Investors: Confidential","page_number":172,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"c78b9972-25cc-468a-bcc8-7b498df5c4e4","block_type":"box","text":"back exclusively its unit linked pension business","page_number":172,"box":{"x":353,"y":53,"width":404,"height":11}},{"id":"989e325f-7d36-43bc-8368-8709d8e26ee9","block_type":"box","text":"contracts and (iii) the policyholders.","page_number":172,"box":{"x":353,"y":67,"width":261,"height":11}},{"id":"d0a290d8-ebc9-4c16-955d-e2ffee863bf8","block_type":"box","text":"UK Corporate Accumulation","page_number":172,"box":{"x":118,"y":93,"width":215,"height":11}},{"id":"a9a0bf1a-d8f3-4bce-aa10-4010491dbad3","block_type":"box","text":"Units","page_number":172,"box":{"x":118,"y":107,"width":36,"height":8}},{"id":"f847450e-1733-4101-920a-5fedecef7320","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":172,"box":{"x":352,"y":93,"width":404,"height":11}},{"id":"4f7e627f-6b92-4fca-bd62-4a0e7f24d72e","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":172,"box":{"x":353,"y":107,"width":404,"height":11}},{"id":"5dab0169-f67a-4ff3-878f-4ac9b034f4f0","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":172,"box":{"x":352,"y":120,"width":405,"height":11}},{"id":"bcce2fe2-c7be-4ffb-b09c-64fa1736bd1a","block_type":"box","text":"linked pension business contracts and (iii) the","page_number":172,"box":{"x":353,"y":134,"width":403,"height":11}},{"id":"f078a13a-3693-433b-9e0f-e033632837f7","block_type":"box","text":"policyholders of which are resident for the purposes of","page_number":172,"box":{"x":353,"y":148,"width":404,"height":11}},{"id":"f47504f2-c184-4502-a2b3-0b89e042d5d9","block_type":"box","text":"tax in the UK","page_number":172,"box":{"x":352,"y":161,"width":96,"height":9}},{"id":"f38857e9-1885-437b-8feb-a1d16dcf4e8a","block_type":"box","text":"**Current Charges:","page_number":172,"box":{"x":117,"y":187,"width":149,"height":12}},{"id":"6643fb5c-e2c2-4f29-9132-ab69ed17e412","block_type":"box","text":"Insured Pension Income","page_number":172,"box":{"x":118,"y":213,"width":179,"height":9}},{"id":"c37601fc-e4b2-4b28-8d67-cf0d5f05351f","block_type":"box","text":"Distribution Units, UK","page_number":172,"box":{"x":118,"y":227,"width":158,"height":10}},{"id":"0c1e1e26-3274-438f-bd48-192f13e15dfb","block_type":"box","text":"Corporate Accumulation","page_number":172,"box":{"x":117,"y":241,"width":178,"height":11}},{"id":"039c0a0a-ce43-46fa-b4bc-ade513244bcd","block_type":"box","text":"Units","page_number":172,"box":{"x":118,"y":255,"width":36,"height":8}},{"id":"0cd6294c-7f65-4268-a253-fc293417eea2","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":172,"box":{"x":352,"y":213,"width":404,"height":12}},{"id":"488b5fb6-8eaa-4e06-b1b3-0b3878fe932f","block_type":"box","text":"Unitholder","page_number":172,"box":{"x":353,"y":227,"width":75,"height":9}},{"id":"3f38ee3a-cd94-47eb-8cbb-eb3f45166d48","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":172,"box":{"x":352,"y":247,"width":404,"height":11}},{"id":"2bbed631-fd82-434b-8738-5dd5a12f55b8","block_type":"box","text":"property","page_number":172,"box":{"x":353,"y":261,"width":60,"height":11}},{"id":"ccc15a24-7858-439b-92ee-9476347aa941","block_type":"box","text":"Accounting Dates","page_number":172,"box":{"x":117,"y":281,"width":141,"height":11}},{"id":"38a4ff7c-b311-4ce0-bbba-ee9fdd9e6bd4","block_type":"box","text":"Annual Accounting Date","page_number":172,"box":{"x":116,"y":307,"width":180,"height":11}},{"id":"2f6ba506-5700-424f-9a37-e0c9cabbb5a6","block_type":"box","text":"31 December","page_number":172,"box":{"x":353,"y":307,"width":100,"height":9}},{"id":"49a7d533-7aa0-4686-af5f-16e19049a9bf","block_type":"box","text":"First Accounting Date","page_number":172,"box":{"x":118,"y":333,"width":158,"height":11}},{"id":"7b68bfca-5f80-4e40-8c0d-c36eafda750a","block_type":"box","text":"31 December 2015","page_number":172,"box":{"x":353,"y":333,"width":141,"height":9}},{"id":"8d8e31c9-013b-447b-a3fa-f5e39d4a6d65","block_type":"box","text":"Annual Income Allocation","page_number":172,"box":{"x":116,"y":359,"width":188,"height":9}},{"id":"bc198848-7b3b-41a3-bf77-e97fc1f80c26","block_type":"box","text":"Date","page_number":172,"box":{"x":118,"y":373,"width":33,"height":8}},{"id":"00d470dc-afa8-4c7b-a5c9-840aa24f75cf","block_type":"box","text":"On or before 28 /29 February","page_number":172,"box":{"x":353,"y":359,"width":217,"height":11}},{"id":"30f504d1-0e6b-4092-9dec-9a7294c135a5","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":172,"box":{"x":118,"y":399,"width":293,"height":11}},{"id":"9e5f0008-b4d9-406b-a67d-921ebfea0a74","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":172,"box":{"x":62,"y":425,"width":861,"height":11}},{"id":"79d2025b-1991-4bfc-a59d-9da9a170c314","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":172,"box":{"x":62,"y":438,"width":408,"height":12}},{"id":"2ea9645a-9401-4ef8-ba55-ace03d6e3d41","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":172,"box":{"x":62,"y":458,"width":642,"height":11}},{"id":"f39d9ebb-de95-4828-9b0f-ffd8c2802d64","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":172,"box":{"x":62,"y":478,"width":860,"height":11}},{"id":"a68c8858-ff77-44ee-b0d4-30d6f61fd77f","block_type":"box","text":"this Prospectus.","page_number":172,"box":{"x":62,"y":492,"width":117,"height":10}},{"id":"737d38ad-2718-4352-9418-89920b81dc7a","block_type":"box","text":"□","page_number":172,"box":{"x":62,"y":512,"width":5,"height":4}},{"id":"2e244564-66c1-40f8-9c51-e25b3d718d44","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":172,"box":{"x":74,"y":511,"width":342,"height":9}},{"id":"1e7027d0-0a6f-4aa9-9759-7360e4a7e1f1","block_type":"box","text":"Securities Financing and other Transactions:","page_number":172,"box":{"x":62,"y":550,"width":358,"height":11}},{"id":"681a12d9-891e-49f5-80f9-44b9ffa39a7b","block_type":"box","text":"The types of assets which may be subject to TRS are limited to:","page_number":172,"box":{"x":62,"y":570,"width":471,"height":11}},{"id":"adac13f0-fc31-4c0e-ace1-860d39aa18bc","block_type":"box","text":"","page_number":172,"box":{"x":92,"y":593,"width":6,"height":5}},{"id":"267c8da1-929f-4a51-b2d8-bbc8caa6a8d3","block_type":"box","text":"Equity Securities; and","page_number":172,"box":{"x":110,"y":590,"width":160,"height":11}},{"id":"805f50be-f5d2-4b4f-8e6f-c38b3c272a04","block_type":"box","text":"","page_number":172,"box":{"x":92,"y":614,"width":6,"height":4}},{"id":"f0a02cd4-ecce-45c2-a84a-f1730dda92e3","block_type":"box","text":"Emerging Market Debt","page_number":172,"box":{"x":110,"y":611,"width":167,"height":11}},{"id":"4542e27e-b2bf-400a-913e-9d7b3c9f7caa","block_type":"box","text":"The assets which may be subject to securities lending or repo transactions will be limited to the financial instruments","page_number":172,"box":{"x":62,"y":650,"width":860,"height":11}},{"id":"856d7eea-aa96-43cd-a745-7add1e5cf5c9","block_type":"box","text":"permitted by the Fund’s investment policy.","page_number":172,"box":{"x":62,"y":664,"width":312,"height":11}},{"id":"e7948dc7-3397-431b-aa47-af332edfc015","block_type":"box","text":"Given that the Sub-Fund’s assets cannot be described as being ‘subject to’ TRS, the maximum and expected","page_number":172,"box":{"x":62,"y":702,"width":860,"height":12}},{"id":"39a7f5cb-a5b8-480d-a29b-f0bbe673288f","block_type":"box","text":"percentages of TRS are given as the gross aggregate notional of TRS as a percentage of the NAV.","page_number":172,"box":{"x":62,"y":716,"width":734,"height":11}},{"id":"0a711aae-aaff-4acd-83af-63755d140ffd","block_type":"box","text":"The maximum proportion of the assets of the Fund which may be subject to TRS, securities lending or repo","page_number":172,"box":{"x":62,"y":763,"width":799,"height":12}},{"id":"24385a05-db06-46db-93f9-866b119e1bfb","block_type":"box","text":"transactions is as follows:","page_number":172,"box":{"x":62,"y":779,"width":188,"height":9}},{"id":"b4309625-277d-4c18-af29-979e2a0de886","block_type":"box","text":"Total Return Swaps","page_number":172,"box":{"x":71,"y":815,"width":133,"height":11}},{"id":"43e9a428-e56d-419b-af8f-4bfcac53e1ef","block_type":"box","text":"1","page_number":172,"box":{"x":461,"y":816,"width":5,"height":8}},{"id":"294ae1b4-48d4-4150-8d4f-15e19358a8d4","block_type":"box","text":"2","page_number":172,"box":{"x":468,"y":816,"width":8,"height":8}},{"id":"11bcadbe-78e4-41d6-91eb-959e1df36d94","block_type":"box","text":"%","page_number":172,"box":{"x":477,"y":816,"width":11,"height":8}},{"id":"890f64dc-c88f-499b-a813-465001e35d95","block_type":"box","text":"Securities Lending","page_number":172,"box":{"x":72,"y":837,"width":125,"height":11}},{"id":"3f4235ec-d3e0-45fd-8db9-679d43896f61","block_type":"box","text":"50%","page_number":172,"box":{"x":460,"y":837,"width":28,"height":9}},{"id":"c8bf9682-f167-405a-8c43-05d1d48e9e27","block_type":"box","text":"Repo Transactions","page_number":172,"box":{"x":71,"y":860,"width":125,"height":10}},{"id":"81c69ee2-e9f9-47c6-b818-0b876eb1d93d","block_type":"box","text":"50%","page_number":172,"box":{"x":460,"y":860,"width":28,"height":8}},{"id":"0e36483d-9728-4e49-a0ef-12d2e6d2cef1","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":173,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"bbb63a47-be73-4b52-9354-491ed32bd66c","block_type":"box","text":"173","page_number":173,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"6e19a4dd-bd91-4b68-b691-291cfe230163","block_type":"box","text":"Aviva Investors: Confidential","page_number":173,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"4c31b186-154e-4d0b-bc64-7f48de1bf8e3","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":173,"box":{"x":62,"y":53,"width":823,"height":11}},{"id":"43dcb799-00c1-46ac-96f0-a38ceecf7879","block_type":"box","text":"time. The expected proportion of the assets of the Fund which may be subject to TRS, securities lending or repo","page_number":173,"box":{"x":62,"y":68,"width":835,"height":11}},{"id":"111abddb-584f-4d2f-a702-3fd294470507","block_type":"box","text":"transactions is as follows:","page_number":173,"box":{"x":62,"y":84,"width":188,"height":9}},{"id":"1bf50199-3ff8-47db-a835-36df4c910dc6","block_type":"box","text":"Total Return Swaps","page_number":173,"box":{"x":71,"y":120,"width":133,"height":11}},{"id":"0b726c8d-484d-4c02-8686-85b67fb13d70","block_type":"box","text":"8%","page_number":173,"box":{"x":460,"y":120,"width":20,"height":9}},{"id":"0ad7b9ca-1f25-43ad-b5a7-a6d831c0ec35","block_type":"box","text":"Securities Lending","page_number":173,"box":{"x":72,"y":142,"width":125,"height":11}},{"id":"798b7866-b21d-4354-bba6-36bba1d38b53","block_type":"box","text":"15","page_number":173,"box":{"x":461,"y":142,"width":14,"height":9}},{"id":"3af90ed5-03d4-4e7e-b7dc-91cfee0dd496","block_type":"box","text":"%","page_number":173,"box":{"x":477,"y":143,"width":11,"height":8}},{"id":"3f3e835d-cd55-42ef-9e08-47860230c192","block_type":"box","text":"Repo Transactions","page_number":173,"box":{"x":71,"y":164,"width":125,"height":11}},{"id":"a9eb6ed6-d547-44c0-bf0a-a61d5b227978","block_type":"box","text":"7.5%","page_number":173,"box":{"x":459,"y":164,"width":33,"height":9}},{"id":"9cf82fe6-df7d-40ad-8797-1244cf1e06d7","block_type":"box","text":"The expected proportion of AUM subject to TRS, securities lending or repo transactions is indicative only and,","page_number":173,"box":{"x":62,"y":206,"width":817,"height":11}},{"id":"11c99214-65b6-4849-bab8-81bc808f710e","block_type":"box","text":"depending on market conditions and the strategies employed, the actual exposure may be outside of that range at","page_number":173,"box":{"x":62,"y":221,"width":845,"height":12}},{"id":"ce7ce9c8-b252-4f56-85b3-49ab1c55204f","block_type":"box","text":"any given point in time. There may be times when there the proportion of AUM subject to TRS, securities lending or","page_number":173,"box":{"x":62,"y":237,"width":854,"height":11}},{"id":"aa8a983b-6a2a-4cdf-9ac0-e12db06a70da","block_type":"box","text":"repo transactions is zero.","page_number":173,"box":{"x":63,"y":253,"width":184,"height":11}},{"id":"17765db3-3fe5-4e38-84bb-2fbf91d10d4e","block_type":"box","text":"Leverage","page_number":173,"box":{"x":63,"y":300,"width":72,"height":11}},{"id":"b684d3c3-9400-44fb-ab87-154760b01330","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of achieving the investment objective,","page_number":173,"box":{"x":63,"y":320,"width":859,"height":11}},{"id":"32bdd989-a830-4a93-97f0-f434e0478109","block_type":"box","text":"risk reduction or efficient portfolio management.","page_number":173,"box":{"x":63,"y":333,"width":351,"height":11}},{"id":"a4821e90-d334-4191-ac79-0cff840dad9a","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":173,"box":{"x":62,"y":366,"width":860,"height":12}},{"id":"1d57160c-51a4-4208-95bb-c01fcb974ede","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":173,"box":{"x":62,"y":380,"width":649,"height":11}},{"id":"1c4b7403-6c8b-4f6d-a60f-10ef2864edf2","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":173,"box":{"x":62,"y":407,"width":755,"height":12}},{"id":"396fe23e-eed1-4ddc-89ad-7af2e5dcfc41","block_type":"box","text":"Permitted derivatives","page_number":173,"box":{"x":72,"y":437,"width":168,"height":9}},{"id":"e9a365a4-cf46-4592-a39e-9ee8b14b0edc","block_type":"box","text":"Permitted?","page_number":173,"box":{"x":383,"y":437,"width":85,"height":9}},{"id":"4d9d02d3-1fa7-4797-9178-9f3eaf831c60","block_type":"box","text":"Prohibited?","page_number":173,"box":{"x":489,"y":437,"width":91,"height":9}},{"id":"a35db4c6-567d-4d36-925e-888978a0df1f","block_type":"box","text":"Equity index futures","page_number":173,"box":{"x":72,"y":458,"width":146,"height":11}},{"id":"76e9c931-f8fd-4451-a5d0-9ccb17c5d379","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":455,"width":8,"height":12}},{"id":"75ce2074-d3ca-4688-bb3f-d2ae578de4dd","block_type":"box","text":"Government bond futures","page_number":173,"box":{"x":72,"y":476,"width":188,"height":9}},{"id":"5280d8fd-34e5-4d01-ad38-efc1b6783146","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":474,"width":8,"height":11}},{"id":"3fb979e7-48ac-4e47-8df2-cea324597d9b","block_type":"box","text":"Equity index options","page_number":173,"box":{"x":72,"y":495,"width":148,"height":11}},{"id":"98a3809e-a712-42d8-a359-fdcc09e35a4f","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":492,"width":8,"height":12}},{"id":"bcaee93e-a1d5-4bdf-a20a-4a5b980f21bb","block_type":"box","text":"Forward foreign exchange","page_number":173,"box":{"x":72,"y":513,"width":193,"height":11}},{"id":"fbe81c4d-5f3a-4686-8481-8b2a36360bb7","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":511,"width":8,"height":11}},{"id":"60fcea86-22f0-4fc3-96e7-65e77a423c64","block_type":"box","text":"Index credit default swaps","page_number":173,"box":{"x":72,"y":531,"width":192,"height":12}},{"id":"f5d3b1b3-d23b-457f-adf9-4a3b8662c76f","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":529,"width":8,"height":12}},{"id":"87d332a3-dc68-4e3f-964a-86199699682b","block_type":"box","text":"Interest rate swaps","page_number":173,"box":{"x":72,"y":550,"width":140,"height":11}},{"id":"e0ac290d-d9f1-4600-935a-1e453d06f648","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":548,"width":8,"height":11}},{"id":"71bac5b3-d4eb-4fe7-ad66-edf85f1085e3","block_type":"box","text":"OTC equity options","page_number":173,"box":{"x":72,"y":568,"width":142,"height":11}},{"id":"2fb58e3c-93b2-42b9-8020-61a3e8196a2d","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":566,"width":8,"height":11}},{"id":"872fc266-056f-40ab-8126-986d543fe305","block_type":"box","text":"Inflation swaps","page_number":173,"box":{"x":72,"y":587,"width":109,"height":11}},{"id":"3008c86b-ed8b-430a-b978-0eb2c47f966a","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":584,"width":8,"height":12}},{"id":"cb584277-13ae-4dd7-9b72-115cf144179a","block_type":"box","text":"Cross currency swaps","page_number":173,"box":{"x":72,"y":605,"width":163,"height":11}},{"id":"624a85e5-024d-4084-9485-f6647dce801b","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":603,"width":8,"height":11}},{"id":"61b54122-04bd-468c-9fc3-f4f5e007aee4","block_type":"box","text":"TRS","page_number":173,"box":{"x":71,"y":623,"width":33,"height":9}},{"id":"e1bd3800-5b05-4b68-918f-d2a61a29c99c","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":621,"width":8,"height":12}},{"id":"22eeffec-e7b0-47e6-8cf1-c27fe9361a48","block_type":"box","text":"Other","page_number":173,"box":{"x":72,"y":642,"width":41,"height":9}},{"id":"895402c0-64c4-48c2-9327-964c3f9ec038","block_type":"box","text":"√","page_number":173,"box":{"x":422,"y":640,"width":8,"height":11}},{"id":"3735750a-dd12-492a-8e49-88cc09180956","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":173,"box":{"x":63,"y":670,"width":860,"height":11}},{"id":"c5162bf1-2cbf-49b5-94d1-bc13a658df02","block_type":"box","text":"2)","page_number":173,"box":{"x":62,"y":683,"width":13,"height":12}},{"id":"b6b4e540-5589-4494-8a9e-7dfcc13e8e31","block_type":"box","text":"Leverage Limits","page_number":173,"box":{"x":63,"y":766,"width":128,"height":11}},{"id":"5472bb04-fb9d-47f0-a935-f43115952a58","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":173,"box":{"x":200,"y":765,"width":722,"height":12}},{"id":"ed3303c4-105c-4a6c-8818-19b0a7bbb207","block_type":"box","text":"Regime):","page_number":173,"box":{"x":63,"y":779,"width":65,"height":11}},{"id":"4d4b712e-84c7-45ab-83af-9659031066d9","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":173,"box":{"x":62,"y":806,"width":471,"height":12}},{"id":"705d92f9-0bb4-4ca2-b127-65204532c651","block_type":"box","text":"","page_number":173,"box":{"x":62,"y":838,"width":6,"height":4}},{"id":"4c366d36-6471-44f9-adbe-06c55687fa20","block_type":"box","text":"Gross Method: Up to 1.8:1","page_number":173,"box":{"x":92,"y":834,"width":193,"height":12}},{"id":"4973d320-d278-4c45-a557-afedf984bee5","block_type":"box","text":"","page_number":173,"box":{"x":62,"y":852,"width":6,"height":4}},{"id":"59e8bbb4-209c-416d-acc8-ffa93f4e0eef","block_type":"box","text":"Commitment: Up to 1.4:1","page_number":173,"box":{"x":92,"y":849,"width":183,"height":11}},{"id":"086fec32-182e-4866-852c-d465083cae31","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":173,"box":{"x":62,"y":876,"width":860,"height":12}},{"id":"93b7625c-caed-4731-b326-c3d1aa06efaf","block_type":"box","text":"which case leverage will not exceed the following:","page_number":173,"box":{"x":62,"y":890,"width":368,"height":11}},{"id":"94d0bd8a-243c-4534-a835-886695438c05","block_type":"box","text":"","page_number":173,"box":{"x":62,"y":921,"width":6,"height":5}},{"id":"01dcc3c0-3bf6-430e-b972-c2b6c3455c0a","block_type":"box","text":"Gross Method: Up to 3.0:1","page_number":173,"box":{"x":92,"y":918,"width":193,"height":11}},{"id":"83a577b2-317a-40ff-b147-36dd30a4f44c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":174,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"4865de37-6550-4882-b39c-01fc97a4fd42","block_type":"box","text":"174","page_number":174,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"fcb30712-199e-454f-8e56-044492f4a508","block_type":"box","text":"Aviva Investors: Confidential","page_number":174,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"8aad27d4-da95-4607-bbd0-588f3fd743e4","block_type":"box","text":"","page_number":174,"box":{"x":62,"y":57,"width":6,"height":4}},{"id":"a6a5cdff-c7d2-4f2c-afee-0931c3e0cea6","block_type":"box","text":"Commitment: Up to 2.0:1","page_number":174,"box":{"x":92,"y":53,"width":183,"height":12}},{"id":"17978bb2-cba2-4aef-b208-832787d0b8ae","block_type":"box","text":"Specific Risks","page_number":174,"box":{"x":62,"y":87,"width":113,"height":11}},{"id":"e8e78900-941e-4685-95c6-741c7f58265a","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":174,"box":{"x":181,"y":87,"width":462,"height":11}},{"id":"f6c47056-5e47-44d6-8028-cd864630f7dc","block_type":"box","text":"","page_number":174,"box":{"x":62,"y":110,"width":6,"height":4}},{"id":"8c7f55e5-8be9-4453-ad80-7819e605d81d","block_type":"box","text":"Emerging Markets","page_number":174,"box":{"x":93,"y":107,"width":134,"height":11}},{"id":"e54e5aa2-d28a-4ba6-9cfd-6edbbfd80fce","block_type":"box","text":"","page_number":174,"box":{"x":62,"y":125,"width":6,"height":4}},{"id":"58caf418-148f-46af-a0cf-8f23a9dda83e","block_type":"box","text":"Smaller Companies","page_number":174,"box":{"x":92,"y":121,"width":145,"height":11}},{"id":"8a8166da-9896-44dd-9eec-1d4eab5205d7","block_type":"box","text":"","page_number":174,"box":{"x":62,"y":139,"width":6,"height":4}},{"id":"48a1ca2d-2e60-4818-adf4-1f4005da683d","block_type":"box","text":"Fixed Interest","page_number":174,"box":{"x":93,"y":136,"width":100,"height":9}},{"id":"c92c87ec-495b-4017-b4de-1ba6b10134e9","block_type":"box","text":"","page_number":174,"box":{"x":62,"y":153,"width":6,"height":5}},{"id":"2b566fe9-04dc-4f99-9a65-a4a3bb85fddd","block_type":"box","text":"Index-Linked","page_number":174,"box":{"x":93,"y":150,"width":93,"height":9}},{"id":"9c588101-ae5d-4cf0-bf23-18ba382d255f","block_type":"box","text":"","page_number":174,"box":{"x":62,"y":168,"width":6,"height":4}},{"id":"b3ebe6ba-e1e7-489f-9db4-1b45ac68d33b","block_type":"box","text":"Alternatives","page_number":174,"box":{"x":92,"y":165,"width":86,"height":9}},{"id":"f4c00fe2-7b22-4abd-b002-38e6b2c6cc1f","block_type":"box","text":"","page_number":174,"box":{"x":62,"y":182,"width":6,"height":5}},{"id":"3d8f6a47-1b39-4d91-b3dc-793910afc8d5","block_type":"box","text":"Equity Securities","page_number":174,"box":{"x":93,"y":179,"width":123,"height":11}},{"id":"17b69fe1-cfb7-4e91-ab81-293e62f61548","block_type":"box","text":"","page_number":174,"box":{"x":62,"y":197,"width":6,"height":4}},{"id":"3ef7df13-0860-428d-bcd2-6c26bca12044","block_type":"box","text":"Benchmark Indices","page_number":174,"box":{"x":93,"y":194,"width":140,"height":9}},{"id":"40a1ba44-0467-40c1-ae27-31db6bafddd4","block_type":"box","text":"Past Performance – AI Cautious Pension Fund","page_number":174,"box":{"x":72,"y":239,"width":368,"height":9}},{"id":"1f21d177-461f-4db1-986d-761c9414d946","block_type":"box","text":"% Growth","page_number":174,"box":{"x":71,"y":259,"width":77,"height":9}},{"id":"6d0f8c20-0b40-4866-98a5-0af47604ae8a","block_type":"box","text":"1/1/2024 to","page_number":174,"box":{"x":281,"y":285,"width":94,"height":8}},{"id":"cb919d7d-d996-4487-bbfd-54d6aeed4ddc","block_type":"box","text":"31/12/2024","page_number":174,"box":{"x":280,"y":297,"width":75,"height":8}},{"id":"b0a91b37-0c65-40e8-88fa-c436f2a22d47","block_type":"box","text":"1/1/2023 to","page_number":174,"box":{"x":394,"y":285,"width":94,"height":8}},{"id":"2c342709-9f32-41f5-bf9d-175828fff5e0","block_type":"box","text":"31/12/2023","page_number":174,"box":{"x":394,"y":297,"width":74,"height":8}},{"id":"4effbc91-e448-4fe6-a45e-1aa884e5ba98","block_type":"box","text":"1/1/2022 to","page_number":174,"box":{"x":508,"y":285,"width":94,"height":8}},{"id":"94075269-8c29-4ce3-b27b-27e3a29bf9b6","block_type":"box","text":"31/12/2022","page_number":174,"box":{"x":507,"y":297,"width":75,"height":8}},{"id":"9a161c82-882e-4135-b931-46ab3bc0c0fe","block_type":"box","text":"1/1/2021 to","page_number":174,"box":{"x":621,"y":285,"width":94,"height":8}},{"id":"2e93c598-2999-49a6-8a16-1502df8a8a6a","block_type":"box","text":"31/12/2021","page_number":174,"box":{"x":621,"y":297,"width":72,"height":8}},{"id":"f566599f-0de5-4dd0-85ef-fea0c390a375","block_type":"box","text":"1/1/2020 to","page_number":174,"box":{"x":735,"y":285,"width":103,"height":8}},{"id":"b345fb19-92b1-43c0-a9fe-48d40f32ecdf","block_type":"box","text":"31/12/2020","page_number":174,"box":{"x":734,"y":297,"width":75,"height":8}},{"id":"967f2065-5561-4646-aef9-0c384debdea4","block_type":"box","text":"UK Corporate Income","page_number":174,"box":{"x":72,"y":322,"width":189,"height":10}},{"id":"1459baab-92df-4eb3-8b66-d7b453168a0f","block_type":"box","text":"Distribution Units (%)","page_number":174,"box":{"x":72,"y":334,"width":140,"height":10}},{"id":"64893df0-58aa-40bb-a641-4fe1a35b2ece","block_type":"box","text":"Insured Pension Income","page_number":174,"box":{"x":72,"y":359,"width":189,"height":8}},{"id":"49eb65d2-0e8a-44e8-8a15-870acaebbfc3","block_type":"box","text":"Distribution Units (%)","page_number":174,"box":{"x":72,"y":371,"width":140,"height":10}},{"id":"7f0cdde1-21c1-4482-bccb-ed5c002fc4e4","block_type":"box","text":"6.37","page_number":174,"box":{"x":280,"y":359,"width":29,"height":8}},{"id":"ce89ca5b-f76b-4afa-bb08-2437a8c16b0b","block_type":"box","text":"5.53","page_number":174,"box":{"x":394,"y":359,"width":28,"height":8}},{"id":"1a9fab2c-1e69-4640-a4f3-3b02c35ba7a3","block_type":"box","text":"-10.31","page_number":174,"box":{"x":507,"y":359,"width":40,"height":8}},{"id":"31d58ab1-f448-4cba-bd90-f967a470b60f","block_type":"box","text":"7.7","page_number":174,"box":{"x":621,"y":359,"width":20,"height":8}},{"id":"96ccefd9-ad1c-4cef-a625-1536324e9bcf","block_type":"box","text":"7.4","page_number":174,"box":{"x":734,"y":359,"width":20,"height":8}},{"id":"668b0779-ec1e-4ec9-afb2-c442ca513893","block_type":"box","text":"UK Institutional","page_number":174,"box":{"x":72,"y":402,"width":189,"height":8}},{"id":"1f399ebc-2f67-4d71-b242-f0a22ef138e5","block_type":"box","text":"Accumulation Units (%)","page_number":174,"box":{"x":71,"y":414,"width":156,"height":10}},{"id":"b5395638-04d3-4dcd-a093-40c9d26a68eb","block_type":"box","text":"ACS (Fund of Fund)","page_number":174,"box":{"x":71,"y":439,"width":190,"height":10}},{"id":"4d1e3054-23a8-4832-a638-843ffe69264e","block_type":"box","text":"Accumulation Units Class 1","page_number":174,"box":{"x":71,"y":451,"width":188,"height":8}},{"id":"59b04b2e-b92e-4543-8444-e8787e8cf0cb","block_type":"box","text":"(%)","page_number":174,"box":{"x":72,"y":464,"width":21,"height":10}},{"id":"b9e56ced-c129-4c83-8f30-2e50e8febdf7","block_type":"box","text":"ACS (Fund of Fund)","page_number":174,"box":{"x":71,"y":488,"width":190,"height":10}},{"id":"5d7859d6-7cf7-4557-93e9-6af2ca91c81c","block_type":"box","text":"Accumulation Units Class 2","page_number":174,"box":{"x":71,"y":501,"width":190,"height":8}},{"id":"489b4996-a2f5-4889-893b-e55a03df5f91","block_type":"box","text":"(%)","page_number":174,"box":{"x":72,"y":513,"width":21,"height":10}},{"id":"154c26e9-bea5-430a-800d-8182f5e6dc23","block_type":"box","text":"UK Corporate Accumulation","page_number":174,"box":{"x":72,"y":538,"width":189,"height":10}},{"id":"b019545f-c6ea-45b3-81a0-48e03eae660d","block_type":"box","text":"Units (%)","page_number":174,"box":{"x":72,"y":550,"width":60,"height":10}},{"id":"c3f46c47-ac08-4c87-a222-5402f019a516","block_type":"box","text":"6.23","page_number":174,"box":{"x":280,"y":538,"width":29,"height":8}},{"id":"7c9872a1-1cf5-45f1-8782-3c325f473da8","block_type":"box","text":"5.68","page_number":174,"box":{"x":394,"y":538,"width":28,"height":8}},{"id":"cb70f92d-1830-4b4b-b2f7-f963439fba9b","block_type":"box","text":"-10.35","page_number":174,"box":{"x":507,"y":538,"width":42,"height":8}},{"id":"8e5c8608-ada6-4370-959a-8c6a06ee0f48","block_type":"box","text":"N/A","page_number":174,"box":{"x":621,"y":538,"width":24,"height":8}},{"id":"7f657095-86f2-46fb-9ed2-ba4dae214521","block_type":"box","text":"N/A","page_number":174,"box":{"x":735,"y":538,"width":24,"height":8}},{"id":"b04983b4-e73c-43f9-9cf9-568fc6357b9f","block_type":"box","text":"Insured Pension","page_number":174,"box":{"x":72,"y":581,"width":189,"height":8}},{"id":"b9eb64b9-b0c7-4ad1-ad1a-01e14671921c","block_type":"box","text":"Accumulation Units (%)","page_number":174,"box":{"x":71,"y":593,"width":156,"height":10}},{"id":"c268eab1-6f02-40c2-89c4-83de6f4f3773","block_type":"box","text":"UK Fund of Fund","page_number":174,"box":{"x":72,"y":618,"width":189,"height":8}},{"id":"38626e82-cf18-48be-aedf-a7ffe89cb928","block_type":"box","text":"Accumulation Units (%)","page_number":174,"box":{"x":71,"y":630,"width":156,"height":10}},{"id":"da12dc04-7009-4589-adfd-0753a13398d0","block_type":"box","text":"Composite Benchmark","page_number":174,"box":{"x":73,"y":658,"width":190,"height":10}},{"id":"7f904e36-23e8-4315-a253-7078e24ec7cb","block_type":"box","text":"Index (as defined in the","page_number":174,"box":{"x":72,"y":670,"width":190,"height":10}},{"id":"92bc3f59-32f4-4d2c-a17f-a460e21551dd","block_type":"box","text":"Performance & Risk","page_number":174,"box":{"x":72,"y":682,"width":191,"height":8}},{"id":"dd8a0186-f964-47e0-b390-33fd3ed26556","block_type":"box","text":"Measurement section of the","page_number":174,"box":{"x":72,"y":695,"width":190,"height":8}},{"id":"43b9bf15-bc4c-403f-9865-7ac9f23f6c3a","block_type":"box","text":"Investment Policy) plus","page_number":174,"box":{"x":72,"y":707,"width":190,"height":10}},{"id":"d6cfaff0-7d28-4de2-9595-a0b52a8424f4","block_type":"box","text":"1.00%","page_number":174,"box":{"x":74,"y":720,"width":40,"height":7}},{"id":"e92c2903-0fc0-4af4-b75d-710cad2547c8","block_type":"box","text":"(From 1 December 2021 to","page_number":174,"box":{"x":73,"y":737,"width":189,"height":11}},{"id":"5fcc8a12-18bb-415a-a6dc-4fd4431fe687","block_type":"box","text":"29 May 2026 the Sub-Fund","page_number":174,"box":{"x":71,"y":750,"width":192,"height":10}},{"id":"9cd1fa8d-fed2-46dd-bf49-d5c0d34f595d","block_type":"box","text":"targeted capital and income","page_number":174,"box":{"x":72,"y":762,"width":190,"height":10}},{"id":"2350e633-7415-4a6b-b15c-8dc35d8b2e77","block_type":"box","text":"equivalent to SONIA plus","page_number":174,"box":{"x":72,"y":774,"width":190,"height":10}},{"id":"e82d071e-8319-4b10-83ff-6e4a6af4326e","block_type":"box","text":"2.5%. Prior to 1 December","page_number":174,"box":{"x":71,"y":787,"width":192,"height":8}},{"id":"34b5b4d3-ea1b-43e9-b11c-95a41a09428d","block_type":"box","text":"2021, the comparator","page_number":174,"box":{"x":71,"y":799,"width":192,"height":10}},{"id":"f8701517-5627-404a-9ebe-bd044e90de19","block_type":"box","text":"benchmark was UK GBP 3","page_number":174,"box":{"x":72,"y":811,"width":191,"height":8}},{"id":"21b671c2-d8c7-4b40-be47-c017dd02b901","block_type":"box","text":"Month LIBOR plus 2.5%.","page_number":174,"box":{"x":72,"y":823,"width":189,"height":10}},{"id":"df954e79-5d15-4b00-b866-9a2e8f60107e","block_type":"box","text":"Performance data shown","page_number":174,"box":{"x":72,"y":836,"width":190,"height":8}},{"id":"a89a6f30-ec8b-4d28-91cf-64ee2fbb1639","block_type":"box","text":"prior to these dates","page_number":174,"box":{"x":71,"y":848,"width":191,"height":10}},{"id":"61f1ee1d-ca3b-4c1f-8426-cc60c23a58a6","block_type":"box","text":"therefore, relates to these","page_number":174,"box":{"x":72,"y":860,"width":190,"height":10}},{"id":"f58e3ab0-498a-44ab-a0cb-e4655cdbc11a","block_type":"box","text":"previous benchmarks)","page_number":174,"box":{"x":71,"y":873,"width":149,"height":10}},{"id":"2a296762-80d9-48d9-af17-1d7322744ad8","block_type":"box","text":"7.85","page_number":174,"box":{"x":282,"y":658,"width":28,"height":8}},{"id":"fd4a8b37-b549-47ad-bdd0-df891c6fcd1b","block_type":"box","text":"7.33","page_number":174,"box":{"x":395,"y":658,"width":29,"height":8}},{"id":"f12990ed-f662-41dc-a188-a5563c903f6c","block_type":"box","text":"3.91","page_number":174,"box":{"x":508,"y":658,"width":28,"height":8}},{"id":"5700fd46-70cf-4dda-8310-16375399bd6c","block_type":"box","text":"2.6","page_number":174,"box":{"x":621,"y":658,"width":21,"height":8}},{"id":"a4f6d58c-bd07-4b5c-abd3-628a128c1c33","block_type":"box","text":"0.3","page_number":174,"box":{"x":735,"y":658,"width":20,"height":8}},{"id":"6fe77d9b-e221-421e-ba5e-148bcfa6779d","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":175,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"4d3ad812-5ecb-4aec-abd3-28745e0929ef","block_type":"box","text":"175","page_number":175,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"c4a470b8-d4a5-40bd-9aa7-d29be61db849","block_type":"box","text":"Aviva Investors: Confidential","page_number":175,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"cf5d7e6c-2c2d-4db0-a30a-d888e5e83bbe","block_type":"box","text":"AI Distribution Life Fund","page_number":175,"box":{"x":62,"y":53,"width":194,"height":8}},{"id":"33a5ac86-acf7-4414-8533-d69d936952b5","block_type":"box","text":"FCA product reference number: 658329","page_number":175,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"afc67f0b-98cd-4d80-ba14-a605db2a3ea2","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":175,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"a6c8548a-56f3-4d6b-b5d0-a883ca5052be","block_type":"box","text":"was authorised by the FCA on 5 December 2014.","page_number":175,"box":{"x":62,"y":125,"width":366,"height":11}},{"id":"4981b1fc-31a8-4eb4-8f1b-daac57f09393","block_type":"box","text":"Investment Objective and Policy","page_number":175,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"fcadbc3e-2a79-45f6-8980-310ab7981e1b","block_type":"box","text":"The Sub-Fund aims to provide an income of at least 110% of the income return of the benchmark (“the Index”)","page_number":175,"box":{"x":62,"y":184,"width":860,"height":11}},{"id":"0cdeb3da-b985-4a15-9ef2-b81488df2572","block_type":"box","text":"measured over rolling 5-year periods (before the deduction of charges and taxes).","page_number":175,"box":{"x":62,"y":197,"width":606,"height":12}},{"id":"2204d4ec-812d-4968-844d-bd43751d01a0","block_type":"box","text":"In addition, the Sub-Fund aims to grow your investment over the long term (5 years or more), through a combination","page_number":175,"box":{"x":63,"y":217,"width":860,"height":11}},{"id":"24ffc5ad-5324-41f7-8639-c670c1bde594","block_type":"box","text":"of capital and income returns, by the equivalent of SONIA plus 2.5% (average annualised returns, before the","page_number":175,"box":{"x":62,"y":230,"width":861,"height":12}},{"id":"46c3a23c-53ff-4c1b-b4a1-a3e8e62a76e5","block_type":"box","text":"deduction of charges and taxes, measured over rolling 5 year periods).","page_number":175,"box":{"x":62,"y":244,"width":524,"height":11}},{"id":"b341596b-7ce5-4042-a809-303d55d9c09b","block_type":"box","text":"The Index is a composite index of 50% MSCI® All Countries World NDR GBP Index and 50% FTSE® All Stock Gilts","page_number":175,"box":{"x":62,"y":264,"width":861,"height":11}},{"id":"fcf07214-df97-460e-b128-54fdfc48fbaa","block_type":"box","text":"Total Return Index","page_number":175,"box":{"x":62,"y":278,"width":137,"height":8}},{"id":"ab30bdf9-a307-4838-a005-0e2ba9ba8be9","block_type":"box","text":"□","page_number":175,"box":{"x":200,"y":279,"width":5,"height":4}},{"id":"d6be16b9-f3dd-40ff-95b7-7304ca6ebec2","block_type":"box","text":".","page_number":175,"box":{"x":208,"y":285,"width":1,"height":1}},{"id":"0cf00003-5ddd-431f-a4f9-8ae594612451","block_type":"box","text":"Core investment:","page_number":175,"box":{"x":62,"y":297,"width":135,"height":9}},{"id":"ff87cc8d-1b6b-4cca-8dd7-9b769710a18b","block_type":"box","text":"The Sub-Fund invests in a broad range of global asset classes that may include shares (including in emerging","page_number":175,"box":{"x":62,"y":317,"width":860,"height":11}},{"id":"d92bebfb-9b8e-43a6-afc7-f1e493c288f3","block_type":"box","text":"markets), bonds issued by companies or governments (which can be investment grade and sub-investment grade),","page_number":175,"box":{"x":62,"y":330,"width":860,"height":12}},{"id":"ce440bf1-aafd-49f6-93bc-94bb4e038448","block_type":"box","text":"cash, property, and commodities, and will gain this exposure by investing in other funds (including other Sub-Funds,","page_number":175,"box":{"x":62,"y":344,"width":860,"height":11}},{"id":"34d9e1ca-63e2-4a0d-8f52-7cdc4f33bbd1","block_type":"box","text":"funds managed by Aviva Investors companies or the Investment Manager), directly in these assets, or through the","page_number":175,"box":{"x":62,"y":358,"width":861,"height":11}},{"id":"ece4aa0e-6f5b-4284-a539-c3daca61a648","block_type":"box","text":"use of derivatives.","page_number":175,"box":{"x":63,"y":371,"width":132,"height":9}},{"id":"801e1954-c960-4746-8f58-18888430ddf5","block_type":"box","text":"Between 20% and 60% of the Sub-Fund will be invested in shares of companies (directly or through other funds). In","page_number":175,"box":{"x":63,"y":391,"width":859,"height":11}},{"id":"c3c957b6-df1c-4a3b-8fb9-30a127ed0033","block_type":"box","text":"addition at least 30% exposure will come from bonds (of which a maximum of 20% can be invested in sub-investment","page_number":175,"box":{"x":62,"y":405,"width":861,"height":11}},{"id":"09e1ca04-06f8-4309-88c8-ed08402a4249","block_type":"box","text":"grade bonds). At least 50% of the Sub-Fund’s underlying assets will be held in Sterling.","page_number":175,"box":{"x":62,"y":418,"width":645,"height":12}},{"id":"34442d9e-44a6-4398-9429-13727c3286c0","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":175,"box":{"x":63,"y":438,"width":860,"height":11}},{"id":"3c567c73-7cc7-457e-be2d-4f6c45ecf67b","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":175,"box":{"x":62,"y":451,"width":861,"height":12}},{"id":"4789c350-26ef-4799-a317-c0a12326fcf3","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":175,"box":{"x":62,"y":465,"width":545,"height":11}},{"id":"f6f46362-07db-4184-bda5-4f16265fce20","block_type":"box","text":"Strategy:","page_number":175,"box":{"x":62,"y":485,"width":70,"height":11}},{"id":"934a4fd8-cc4d-48f1-8be9-7273fe55e4d3","block_type":"box","text":"The Sub-Fund is actively managed, and the investment approach is designed to achieve the investment objective","page_number":175,"box":{"x":62,"y":504,"width":861,"height":12}},{"id":"bcdd2aa6-3708-4032-b076-f97a9ca455db","block_type":"box","text":"through both individual stock selection and asset allocation decisions. The portfolio will adopt a flexible approach by","page_number":175,"box":{"x":62,"y":518,"width":861,"height":11}},{"id":"1842830e-a551-46ac-838f-5ad04f2b2e25","block_type":"box","text":"investing globally across a variety of sectors, countries and asset classes.","page_number":175,"box":{"x":62,"y":532,"width":546,"height":11}},{"id":"d36f9f84-68b1-4c78-b173-504a7eaff288","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":175,"box":{"x":62,"y":551,"width":527,"height":11}},{"id":"53bd0481-2cd8-4617-b423-90dd98f035ad","block_type":"box","text":"please see Appendix 2 for information on","page_number":175,"box":{"x":594,"y":551,"width":328,"height":11}},{"id":"3ba550ce-75bd-4da8-b97f-5ce6e316a73a","block_type":"box","text":"these limited investment restrictions.","page_number":175,"box":{"x":62,"y":565,"width":295,"height":9}},{"id":"0ba434d3-aea5-4ac8-99e5-5222d7b66840","block_type":"box","text":"Performance & Risk Measurement:","page_number":175,"box":{"x":63,"y":585,"width":275,"height":8}},{"id":"1fa7f0d5-1f52-488c-ba87-db1bd070f80b","block_type":"box","text":"SONIA has been chosen as a market standard indicator of the risk-free rate of return, and 2.5% above this rate is the","page_number":175,"box":{"x":62,"y":604,"width":861,"height":10}},{"id":"16ab126f-5c79-4aad-8c1f-4dcc98be7f47","block_type":"box","text":"level of performance that the Investment Manager believes to be realistic for this strategy when considered alongside","page_number":175,"box":{"x":62,"y":618,"width":861,"height":11}},{"id":"9ee05a76-8857-437c-931e-e15f23d9b440","block_type":"box","text":"the Sub-Fund’s expected level of volatility, as outlined below.","page_number":175,"box":{"x":62,"y":631,"width":451,"height":12}},{"id":"01732494-252a-4fdb-8e0c-7cda85800027","block_type":"box","text":"The Sub-Fund is expected to operate with a volatility equivalent to the Index. Volatility measures how much the returns","page_number":175,"box":{"x":62,"y":651,"width":860,"height":11}},{"id":"20611c68-f101-40fe-944b-1c325b26489d","block_type":"box","text":"of the Sub-Fund may fluctuate and is an indicator of the level of risk taken by the Investment Manager.","page_number":175,"box":{"x":62,"y":665,"width":758,"height":11}},{"id":"414fcb4c-205a-4b79-9ff1-24eb266ea973","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not have exposure to every company or","page_number":175,"box":{"x":62,"y":684,"width":861,"height":11}},{"id":"1f5f556e-d3c9-4a9a-94ff-c08684d4f86c","block_type":"box","text":"bond in the Index and may also have exposure to companies and bonds that do not form part of it. The Index","page_number":175,"box":{"x":62,"y":698,"width":861,"height":11}},{"id":"1b775fd4-3cf6-4576-b0d9-74eb8e9ea8ea","block_type":"box","text":"represents the performance of a broad range of global companies and bonds issued by companies and governments,","page_number":175,"box":{"x":63,"y":712,"width":859,"height":11}},{"id":"c02b4738-3a93-4ca7-8005-44557378fa9c","block_type":"box","text":"and it is therefore an appropriate comparator for the Sub-Fund’s volatility.","page_number":175,"box":{"x":62,"y":725,"width":542,"height":11}},{"id":"3db175df-efc0-4a11-8f0d-ef5c86f4c9ad","block_type":"box","text":"Additional Information","page_number":175,"box":{"x":62,"y":745,"width":177,"height":9}},{"id":"7609ca71-13d4-4e9f-83b8-e3feb3c48f9a","block_type":"box","text":"Investment Manager","page_number":175,"box":{"x":118,"y":771,"width":151,"height":11}},{"id":"0c3d3b77-7836-48b8-b736-6b509301f81e","block_type":"box","text":"Schroder Investment Management Limited","page_number":175,"box":{"x":353,"y":771,"width":315,"height":11}},{"id":"568ddc50-7249-40b8-85b9-b30780e93227","block_type":"box","text":"Type of Units","page_number":175,"box":{"x":116,"y":797,"width":98,"height":11}},{"id":"2a005e1c-054b-47c4-90cf-b8231a0062ad","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":175,"box":{"x":353,"y":797,"width":292,"height":11}},{"id":"71a4f52c-e43f-4f29-8059-965fe775ca40","block_type":"box","text":"Dealing Day","page_number":175,"box":{"x":118,"y":823,"width":89,"height":12}},{"id":"dcb76b23-5a81-4d34-bd30-1c1a6b8e706f","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":175,"box":{"x":354,"y":823,"width":393,"height":11}},{"id":"ca399521-0841-44a2-9966-fb270f59fe5c","block_type":"box","text":"Deal Cut-Off Point","page_number":175,"box":{"x":118,"y":849,"width":134,"height":9}},{"id":"a57ca21c-821e-48ed-8680-bcb88be5afe6","block_type":"box","text":"1.00 p.m.","page_number":175,"box":{"x":354,"y":850,"width":66,"height":10}},{"id":"71326ba9-d1da-4024-a4cc-c90622c3d4ef","block_type":"box","text":"Valuation Point","page_number":175,"box":{"x":117,"y":876,"width":112,"height":8}},{"id":"83a27149-ffd5-43a2-ab62-99e79cc46da9","block_type":"box","text":"3.00 p.m.","page_number":175,"box":{"x":353,"y":876,"width":67,"height":11}},{"id":"fdc802ca-2d82-483c-a111-258f5d6a97ea","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":176,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"48beca8b-c165-44e0-a8af-c479d8c2cbe1","block_type":"box","text":"176","page_number":176,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"734575d7-140c-4aa0-91a4-287ba13e90bd","block_type":"box","text":"Aviva Investors: Confidential","page_number":176,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"25e60187-992c-41bb-9417-b2ff223f3c25","block_type":"box","text":"*Minimum Investment","page_number":176,"box":{"x":117,"y":59,"width":172,"height":9}},{"id":"f1175985-3a06-4963-aeb4-cb273ded2994","block_type":"box","text":"UK Corporate Income","page_number":176,"box":{"x":118,"y":85,"width":160,"height":11}},{"id":"642d20a1-328b-49f9-9ef7-6c072c8d6d48","block_type":"box","text":"Distribution Units","page_number":176,"box":{"x":118,"y":99,"width":124,"height":9}},{"id":"7bcc27cd-1ea1-41d6-b894-a275dcd888fa","block_type":"box","text":"No minimum","page_number":176,"box":{"x":353,"y":85,"width":92,"height":9}},{"id":"353e3ac1-8b8b-4ce2-a6ef-adf6168d1d3d","block_type":"box","text":"Minimum withdrawal","page_number":176,"box":{"x":117,"y":131,"width":150,"height":9}},{"id":"39f00046-c8ee-4bfc-b0b0-c826fb17401b","block_type":"box","text":"No minimum","page_number":176,"box":{"x":353,"y":131,"width":92,"height":9}},{"id":"e677f66e-d3fb-4888-a30e-c34c9507cbe1","block_type":"box","text":"Tax Criteria for investment","page_number":176,"box":{"x":116,"y":157,"width":213,"height":9}},{"id":"b05016ed-6f68-4c63-abc6-ae6ff6735456","block_type":"box","text":"UK Corporate Income","page_number":176,"box":{"x":118,"y":183,"width":160,"height":11}},{"id":"bc32b7b1-fad7-4761-8742-1a6fe4792c50","block_type":"box","text":"Distribution Units","page_number":176,"box":{"x":118,"y":197,"width":124,"height":9}},{"id":"fda56fae-d70e-458e-9103-96f3e9ec9dab","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":176,"box":{"x":352,"y":183,"width":404,"height":11}},{"id":"8a16b9f7-cba8-40e6-b21d-aa4739824bb6","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":176,"box":{"x":353,"y":197,"width":404,"height":11}},{"id":"5e9b795f-2aa8-4f78-a35a-6b6b57e7fa8a","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":176,"box":{"x":352,"y":211,"width":405,"height":11}},{"id":"a76fb208-b97f-4ebc-bb16-b8ee1150ef0a","block_type":"box","text":"linked pension business contracts.","page_number":176,"box":{"x":353,"y":224,"width":253,"height":11}},{"id":"eacdc816-fd9e-44fa-bf91-882641dc4b54","block_type":"box","text":"**Current Charges:","page_number":176,"box":{"x":117,"y":250,"width":149,"height":11}},{"id":"ea3f624d-4f18-4948-af83-fe2be0ba72e4","block_type":"box","text":"UK Corporate Income","page_number":176,"box":{"x":118,"y":276,"width":160,"height":11}},{"id":"886dfb5f-c477-42b6-a3eb-b1926220f7fd","block_type":"box","text":"Distribution Units","page_number":176,"box":{"x":118,"y":290,"width":124,"height":9}},{"id":"1d9b66da-aab0-4ff9-aa9a-8abe9334fe99","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":176,"box":{"x":352,"y":276,"width":404,"height":12}},{"id":"7508c955-c2e7-48e5-8d2d-e7c1b45858a5","block_type":"box","text":"Unitholder","page_number":176,"box":{"x":353,"y":290,"width":75,"height":9}},{"id":"d8684921-5fa4-4c1e-862b-2d9460e7ad04","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":176,"box":{"x":352,"y":309,"width":404,"height":12}},{"id":"e6c7f424-df09-40be-b674-ce07509c596d","block_type":"box","text":"property","page_number":176,"box":{"x":353,"y":324,"width":60,"height":10}},{"id":"8ec39eb0-d4b2-4476-b3b3-a4c960e0105d","block_type":"box","text":"Accounting Dates","page_number":176,"box":{"x":117,"y":344,"width":141,"height":11}},{"id":"5f631e8f-766d-41e8-a16c-0c4d27efd3b5","block_type":"box","text":"Annual Accounting Date","page_number":176,"box":{"x":116,"y":370,"width":180,"height":11}},{"id":"82169880-edab-4fcf-9120-ad7bdd806e1e","block_type":"box","text":"31 December","page_number":176,"box":{"x":353,"y":370,"width":100,"height":9}},{"id":"990d26b9-cab5-47a2-8657-49f5ed3bfdeb","block_type":"box","text":"First Accounting Date","page_number":176,"box":{"x":118,"y":396,"width":158,"height":11}},{"id":"1e8ae432-ef8a-47c4-986d-8ed5865b369b","block_type":"box","text":"31 December 2015","page_number":176,"box":{"x":353,"y":396,"width":141,"height":9}},{"id":"dfb5c3b1-1b3e-4480-bf7f-40534b44b767","block_type":"box","text":"Annual Income Allocation","page_number":176,"box":{"x":116,"y":422,"width":188,"height":9}},{"id":"2f385f32-f65d-4c1f-8efa-231e1dd70e31","block_type":"box","text":"Date","page_number":176,"box":{"x":118,"y":436,"width":33,"height":8}},{"id":"dc7dbb27-43aa-49b7-9b73-5c2787407d13","block_type":"box","text":"On or before 28 /29 February","page_number":176,"box":{"x":353,"y":422,"width":217,"height":11}},{"id":"81451573-d12d-4b62-a1b8-9eb0369499b6","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":176,"box":{"x":118,"y":462,"width":293,"height":11}},{"id":"11c63556-f4d5-45d8-b917-c2cd5b961be2","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":176,"box":{"x":62,"y":514,"width":861,"height":11}},{"id":"ac3da02e-fa1a-482d-aa9d-96d124516fa4","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":176,"box":{"x":62,"y":528,"width":408,"height":11}},{"id":"77cd0c6d-ae87-4f4e-bed0-2b8563dab8f0","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":176,"box":{"x":62,"y":547,"width":642,"height":11}},{"id":"3f136795-752f-4dca-83b0-3cb3cb042841","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":176,"box":{"x":62,"y":567,"width":860,"height":11}},{"id":"8007b868-a7a8-4b90-9521-a5f38b786d36","block_type":"box","text":"this Prospectus.","page_number":176,"box":{"x":62,"y":581,"width":117,"height":11}},{"id":"de856fb3-fca0-4480-9242-4d57b9387e53","block_type":"box","text":"□","page_number":176,"box":{"x":62,"y":601,"width":5,"height":4}},{"id":"ff8a4bde-81f7-4e1c-b228-131213288621","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":176,"box":{"x":74,"y":600,"width":342,"height":9}},{"id":"9c086ce5-1f9e-4d16-a6b1-f5e6876e142d","block_type":"box","text":"Securities Financing and other Transactions:","page_number":176,"box":{"x":62,"y":633,"width":358,"height":12}},{"id":"d8256082-abe8-40dc-92f1-31799da0bf3e","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":176,"box":{"x":62,"y":653,"width":860,"height":11}},{"id":"f54be9cf-86e6-4b78-b07e-b36298f58f33","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":176,"box":{"x":62,"y":666,"width":438,"height":12}},{"id":"d4e7fbd9-cd8d-4d34-bd1f-c92970374381","block_type":"box","text":"The maximum proportion of the assets of the Sub-Fund which may be subject to securities lending or repo","page_number":176,"box":{"x":62,"y":706,"width":787,"height":11}},{"id":"495e5053-5e71-490b-a37b-9d2fe1b21f01","block_type":"box","text":"transactions is as follows:","page_number":176,"box":{"x":62,"y":721,"width":188,"height":9}},{"id":"4cc00ef5-4f5c-49cc-8c94-53a17ecaa213","block_type":"box","text":"Securities Lending","page_number":176,"box":{"x":72,"y":758,"width":125,"height":11}},{"id":"af16a1b2-d7e9-42db-bde2-997bca3a89ad","block_type":"box","text":"50%","page_number":176,"box":{"x":460,"y":758,"width":28,"height":8}},{"id":"e3dbd699-e95a-4ed8-8c36-96e4440c2f03","block_type":"box","text":"Repo Transactions","page_number":176,"box":{"x":71,"y":780,"width":125,"height":10}},{"id":"8ec02d99-5e77-4b0a-a578-ea7993e765dc","block_type":"box","text":"50%","page_number":176,"box":{"x":460,"y":780,"width":28,"height":8}},{"id":"0567dbc4-baeb-4fec-bc9b-f4fb057d5cc3","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":176,"box":{"x":62,"y":821,"width":823,"height":11}},{"id":"93f9e457-9625-4681-9dc3-bac789400bd8","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to securities lending or repo","page_number":176,"box":{"x":62,"y":837,"width":823,"height":11}},{"id":"3a10957c-136e-4dda-8262-b4da31e39374","block_type":"box","text":"transactions is as follows:","page_number":176,"box":{"x":62,"y":853,"width":188,"height":8}},{"id":"3cda3a80-363b-41b1-99c5-63c7675e3ce3","block_type":"box","text":"Securities Lending","page_number":176,"box":{"x":72,"y":889,"width":125,"height":11}},{"id":"3a44331f-1a4f-45a2-bc9b-17eb7d9f31a4","block_type":"box","text":"15","page_number":176,"box":{"x":461,"y":889,"width":14,"height":8}},{"id":"421b8784-317d-4a44-8038-a9ef91476371","block_type":"box","text":"%","page_number":176,"box":{"x":477,"y":889,"width":11,"height":8}},{"id":"43e205d6-c0f8-4205-bf39-e0830f3aba0d","block_type":"box","text":"Repo Transactions","page_number":176,"box":{"x":71,"y":911,"width":125,"height":11}},{"id":"5710fdce-b403-4129-a2b0-56586c7406a1","block_type":"box","text":"7.5%","page_number":176,"box":{"x":459,"y":911,"width":33,"height":8}},{"id":"5de2d41e-458d-4b93-b106-f1cf1fc89100","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":177,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"71eb0028-0ff1-43d1-bdc1-4a3c109b7e75","block_type":"box","text":"177","page_number":177,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"b2467b07-3867-42dc-8972-97a65dcfb786","block_type":"box","text":"Aviva Investors: Confidential","page_number":177,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"f439e353-b39b-4aa9-a038-e8e99b32b247","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":177,"box":{"x":62,"y":72,"width":860,"height":11}},{"id":"178ec6b3-00c4-414a-ac59-93516876caa9","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":177,"box":{"x":62,"y":86,"width":860,"height":11}},{"id":"554715d4-8214-4f23-82c6-bed69472cbd3","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":177,"box":{"x":62,"y":99,"width":861,"height":12}},{"id":"9268c2ee-75ed-46a1-a6e8-fb58e6115be5","block_type":"box","text":"is zero.","page_number":177,"box":{"x":62,"y":113,"width":52,"height":9}},{"id":"6dc5031a-0ef4-4b43-addf-51c592c36802","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":177,"box":{"x":62,"y":172,"width":249,"height":9}},{"id":"5d8c0b8e-8003-47c0-904a-f530bf1419a0","block_type":"box","text":"Leverage","page_number":177,"box":{"x":63,"y":211,"width":72,"height":11}},{"id":"1375c1d4-ab4c-4b9d-9d25-4d291a3a97c3","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":177,"box":{"x":63,"y":231,"width":860,"height":11}},{"id":"39156164-a443-430a-8e38-ee76b819dab6","block_type":"box","text":"management.","page_number":177,"box":{"x":62,"y":245,"width":101,"height":10}},{"id":"16a96f8f-e920-4733-b1c0-a1014f96d70a","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":177,"box":{"x":62,"y":277,"width":860,"height":12}},{"id":"7fa45bf1-54cf-4f07-8fc3-10c2e0fb8807","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":177,"box":{"x":62,"y":291,"width":649,"height":11}},{"id":"02edce23-8b90-4f7b-9824-a271e48b1f76","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":177,"box":{"x":62,"y":318,"width":755,"height":12}},{"id":"847fe113-0b23-4112-87a4-8c9bc57eb12a","block_type":"box","text":"Permitted derivatives","page_number":177,"box":{"x":72,"y":349,"width":168,"height":8}},{"id":"45396591-8f33-4100-8ea4-10c87f1323c0","block_type":"box","text":"Permitted?","page_number":177,"box":{"x":383,"y":348,"width":85,"height":9}},{"id":"be272ef7-c42a-4947-8445-5677763ba6bc","block_type":"box","text":"Prohibited?","page_number":177,"box":{"x":489,"y":348,"width":91,"height":9}},{"id":"0b5dad8d-91d2-4a01-af36-3f9c2ef8fbbe","block_type":"box","text":"Equity index futures","page_number":177,"box":{"x":72,"y":369,"width":146,"height":11}},{"id":"1b31bd51-7677-4d80-aa68-d2a47666981f","block_type":"box","text":"√","page_number":177,"box":{"x":422,"y":367,"width":8,"height":11}},{"id":"164c83e0-d677-4f30-94cb-e801d93db8ff","block_type":"box","text":"Government bond futures","page_number":177,"box":{"x":72,"y":387,"width":188,"height":9}},{"id":"2c0aacdc-83d5-41c2-bb8c-a9cd9d3061d7","block_type":"box","text":"√","page_number":177,"box":{"x":422,"y":385,"width":8,"height":11}},{"id":"e2822a94-dc04-4be0-8456-cafd2e5406b9","block_type":"box","text":"Equity index options","page_number":177,"box":{"x":72,"y":406,"width":148,"height":11}},{"id":"a08c97a8-a132-4034-8171-71d1ab3c802b","block_type":"box","text":"√","page_number":177,"box":{"x":422,"y":403,"width":8,"height":12}},{"id":"3f183ab8-faf5-4094-96e6-2a224c9f80a7","block_type":"box","text":"Forward foreign exchange","page_number":177,"box":{"x":72,"y":424,"width":193,"height":11}},{"id":"59dd9649-b2dd-404f-93e4-b55f89dc70e4","block_type":"box","text":"√","page_number":177,"box":{"x":422,"y":422,"width":8,"height":11}},{"id":"c9aca8e3-40f7-4b00-a4ec-65d72ef0b904","block_type":"box","text":"Index credit default swaps","page_number":177,"box":{"x":72,"y":443,"width":192,"height":11}},{"id":"0ab9ff13-4959-4729-80e5-2a39ef51b656","block_type":"box","text":"√","page_number":177,"box":{"x":422,"y":440,"width":8,"height":12}},{"id":"328f1d6c-c38b-436d-bcc0-ecc7d5af2a9b","block_type":"box","text":"Interest rate swaps","page_number":177,"box":{"x":72,"y":461,"width":140,"height":11}},{"id":"aae5a7b5-e247-4f41-aae4-484d383d34ef","block_type":"box","text":"√","page_number":177,"box":{"x":422,"y":459,"width":8,"height":11}},{"id":"423c378f-ebc6-44ea-907a-3acffcf753c4","block_type":"box","text":"OTC equity options","page_number":177,"box":{"x":72,"y":479,"width":142,"height":12}},{"id":"2faa3841-16a7-4f93-9305-a3aa15c532b6","block_type":"box","text":"√","page_number":177,"box":{"x":422,"y":477,"width":8,"height":11}},{"id":"236e0413-1a78-4b3f-970a-10f47d4eea2e","block_type":"box","text":"Inflation swaps","page_number":177,"box":{"x":72,"y":498,"width":109,"height":11}},{"id":"7cd2a9ca-f135-4e33-b9d9-98359f271cf1","block_type":"box","text":"√","page_number":177,"box":{"x":422,"y":495,"width":8,"height":12}},{"id":"24bb7fd8-866e-49b5-8ed8-d5a373cddfa8","block_type":"box","text":"Cross currency swaps","page_number":177,"box":{"x":72,"y":516,"width":163,"height":11}},{"id":"ee249ead-ee0d-4063-a9b3-f2e70737ca15","block_type":"box","text":"√","page_number":177,"box":{"x":422,"y":514,"width":8,"height":11}},{"id":"91824d66-772b-4b8a-ba3a-372888a9b72b","block_type":"box","text":"Other","page_number":177,"box":{"x":72,"y":535,"width":41,"height":9}},{"id":"2d6ba269-730f-4d4c-a2d7-5c34cb06c4d5","block_type":"box","text":"√","page_number":177,"box":{"x":422,"y":532,"width":8,"height":12}},{"id":"3453eb0d-b7e3-41bf-9e5d-a4725269c319","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":177,"box":{"x":63,"y":562,"width":860,"height":12}},{"id":"8ea00261-d0ce-4b61-a517-cf2b0d3c067f","block_type":"box","text":"2)","page_number":177,"box":{"x":62,"y":576,"width":13,"height":11}},{"id":"e1d7cccb-c870-4dfb-a4d5-045e70688173","block_type":"box","text":"Leverage Limits","page_number":177,"box":{"x":63,"y":604,"width":128,"height":11}},{"id":"953a573e-dba0-4f11-89d2-e87e85d6ecd5","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":177,"box":{"x":200,"y":604,"width":722,"height":11}},{"id":"e4f17a68-1691-4af2-9c15-6c522473c621","block_type":"box","text":"Regime):","page_number":177,"box":{"x":63,"y":617,"width":65,"height":11}},{"id":"60295f3b-6c0c-4d22-91a8-2694c249ea5b","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":177,"box":{"x":62,"y":644,"width":471,"height":12}},{"id":"b43578ff-a6f1-45c5-b7bc-d03acb8c1b02","block_type":"box","text":"","page_number":177,"box":{"x":62,"y":676,"width":6,"height":4}},{"id":"8748bbae-f869-46c4-9477-aa9b1f61e903","block_type":"box","text":"Gross Method: Up to 1.6:1","page_number":177,"box":{"x":92,"y":673,"width":193,"height":11}},{"id":"ea4db7af-bb71-4d8f-a8cd-f4cb8dcfbaba","block_type":"box","text":"","page_number":177,"box":{"x":62,"y":690,"width":6,"height":5}},{"id":"6f85d4ff-c945-4f0c-a022-5484fb47faaf","block_type":"box","text":"Commitment: Up to 1.1:1","page_number":177,"box":{"x":92,"y":687,"width":183,"height":11}},{"id":"14bf904d-9a14-4d8f-9d8b-f39978535432","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":177,"box":{"x":62,"y":714,"width":860,"height":12}},{"id":"3d13ac88-c493-4ba8-b2f1-84740ad9d9b7","block_type":"box","text":"which case leverage will not exceed the following:","page_number":177,"box":{"x":62,"y":728,"width":368,"height":11}},{"id":"5c6f6958-c41c-47b3-8dcb-c8620fa8c217","block_type":"box","text":"","page_number":177,"box":{"x":62,"y":759,"width":6,"height":5}},{"id":"8ab2502a-2188-40c4-adfc-79c765568cc5","block_type":"box","text":"Gross Method: Up to 3.0:1","page_number":177,"box":{"x":92,"y":756,"width":193,"height":11}},{"id":"e22326dd-ee8a-49f7-9e3d-df218bd34b62","block_type":"box","text":"","page_number":177,"box":{"x":62,"y":774,"width":6,"height":4}},{"id":"e9f61b66-dc49-4c14-9bcf-f2c64d9e82ee","block_type":"box","text":"Commitment: Up to 1.3:1","page_number":177,"box":{"x":92,"y":771,"width":183,"height":11}},{"id":"74ed3c9a-c85f-4eda-b7a5-cbeb4790e524","block_type":"box","text":"Specific Risks","page_number":177,"box":{"x":62,"y":810,"width":113,"height":11}},{"id":"351890c0-8cb4-4e53-a8c7-8453f13293b2","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":177,"box":{"x":181,"y":810,"width":462,"height":11}},{"id":"562954eb-7c33-45ef-96fb-a913226df0ea","block_type":"box","text":"","page_number":177,"box":{"x":62,"y":833,"width":6,"height":5}},{"id":"0203d230-1186-4c4c-a9c9-ab53f1e341c5","block_type":"box","text":"Emerging Markets","page_number":177,"box":{"x":93,"y":830,"width":134,"height":12}},{"id":"3a126af2-8f78-475e-a97a-7c25e615ce6a","block_type":"box","text":"","page_number":177,"box":{"x":62,"y":848,"width":6,"height":4}},{"id":"eeac0b1b-3563-45f9-bed7-c11e3aa0f990","block_type":"box","text":"Smaller Companies","page_number":177,"box":{"x":92,"y":845,"width":145,"height":11}},{"id":"3576c737-bfae-4bc6-926b-0cd4fc5a91cc","block_type":"box","text":"","page_number":177,"box":{"x":62,"y":862,"width":6,"height":5}},{"id":"500d4a1d-126f-432f-90c3-297be2ec5458","block_type":"box","text":"Fixed Interest","page_number":177,"box":{"x":93,"y":859,"width":100,"height":9}},{"id":"72ef3df7-76b0-442f-a9a6-c38bd0cb1c80","block_type":"box","text":"","page_number":177,"box":{"x":62,"y":877,"width":6,"height":4}},{"id":"103fa505-e3b8-413e-8d04-46be21bec569","block_type":"box","text":"Index-Linked","page_number":177,"box":{"x":93,"y":874,"width":93,"height":8}},{"id":"76772161-2c6b-46f5-9f60-44b3363a8e9b","block_type":"box","text":"","page_number":177,"box":{"x":62,"y":891,"width":6,"height":5}},{"id":"21bf96ba-b83d-4e57-9d51-92983e619d83","block_type":"box","text":"Alternatives","page_number":177,"box":{"x":92,"y":888,"width":86,"height":9}},{"id":"3b6f814d-abcb-4f83-997d-23b6a7a20e51","block_type":"box","text":"","page_number":177,"box":{"x":62,"y":906,"width":6,"height":4}},{"id":"1b63d75c-9ea6-4637-9164-65a472148331","block_type":"box","text":"Equity Securities","page_number":177,"box":{"x":93,"y":902,"width":123,"height":12}},{"id":"bfd44b0f-f4a4-428e-a65b-fc0c2ce038fe","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":178,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"67f68812-b14c-4d5e-b622-461a92244182","block_type":"box","text":"178","page_number":178,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"22cd1b97-340c-420e-a737-a7011f300971","block_type":"box","text":"Aviva Investors: Confidential","page_number":178,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"0dfcc073-1e94-4690-872a-cb55b087839d","block_type":"box","text":"Past Performance – AI Distribution Life Fund","page_number":178,"box":{"x":72,"y":59,"width":355,"height":9}},{"id":"a1710aad-7e34-4474-8337-be6f2daddffe","block_type":"box","text":"% Growth","page_number":178,"box":{"x":71,"y":79,"width":77,"height":9}},{"id":"682e3cca-d8d4-442b-ba82-e7c294877aff","block_type":"box","text":"1/1/2024 to","page_number":178,"box":{"x":281,"y":104,"width":94,"height":8}},{"id":"70350144-c96d-481c-abc2-3e7615bee218","block_type":"box","text":"31/12/2024","page_number":178,"box":{"x":280,"y":117,"width":75,"height":8}},{"id":"7189dbfe-3947-450e-a215-856108c15189","block_type":"box","text":"1/1/2023 to","page_number":178,"box":{"x":394,"y":104,"width":94,"height":8}},{"id":"d7b794ec-b75f-4206-a314-887dab8a9325","block_type":"box","text":"31/12/2023","page_number":178,"box":{"x":394,"y":117,"width":74,"height":8}},{"id":"bd282762-1705-4a6d-ad96-2f57f537db5e","block_type":"box","text":"1/1/2022 to","page_number":178,"box":{"x":508,"y":104,"width":94,"height":8}},{"id":"22411d6b-34ce-453c-a779-9ff30b8453cd","block_type":"box","text":"31/12/2022","page_number":178,"box":{"x":507,"y":117,"width":75,"height":8}},{"id":"2fec7607-b4e3-4aac-9f7e-992d887df51b","block_type":"box","text":"1/1/2021 to","page_number":178,"box":{"x":621,"y":104,"width":94,"height":8}},{"id":"b8c2adaf-0b62-44ca-8ccf-f6230c070122","block_type":"box","text":"31/12/2021","page_number":178,"box":{"x":621,"y":117,"width":72,"height":8}},{"id":"de249bcd-a165-45fb-870c-d364a9b8c8d5","block_type":"box","text":"1/1/2020 to","page_number":178,"box":{"x":735,"y":104,"width":103,"height":8}},{"id":"a7395caf-fc35-4557-acfd-e4ae0e393aa7","block_type":"box","text":"31/12/2020","page_number":178,"box":{"x":734,"y":117,"width":75,"height":8}},{"id":"0ef7ea1b-2cde-42e9-9590-1e64e6ed2ef7","block_type":"box","text":"UK Corporate Income","page_number":178,"box":{"x":72,"y":141,"width":189,"height":11}},{"id":"a2a8dd35-aef3-406f-a756-798e9d1b55ec","block_type":"box","text":"Distribution Units (%)","page_number":178,"box":{"x":72,"y":154,"width":140,"height":10}},{"id":"8e36849a-3261-44c8-9109-6c4aa2da90de","block_type":"box","text":"6.29","page_number":178,"box":{"x":280,"y":142,"width":29,"height":8}},{"id":"0da2bdd4-f13d-40c0-b7ea-aa7bf8297591","block_type":"box","text":"6.40","page_number":178,"box":{"x":394,"y":142,"width":28,"height":8}},{"id":"7acbcda7-1c41-4125-9024-ee459794208c","block_type":"box","text":"-9.80","page_number":178,"box":{"x":507,"y":142,"width":34,"height":8}},{"id":"80821013-c612-4dce-89b4-7d48666fb53e","block_type":"box","text":"8.7","page_number":178,"box":{"x":621,"y":142,"width":20,"height":8}},{"id":"8121f4bd-55f6-482b-8378-ac05f7a7078b","block_type":"box","text":"6.5","page_number":178,"box":{"x":734,"y":142,"width":20,"height":8}},{"id":"e6a0f34b-fabc-41ae-9758-b40ee882aef2","block_type":"box","text":"Insured Pension Income","page_number":178,"box":{"x":72,"y":185,"width":189,"height":7}},{"id":"bb8bd16b-57a0-4cce-b28d-d6f99875b5da","block_type":"box","text":"Distribution Units (%)","page_number":178,"box":{"x":72,"y":197,"width":140,"height":10}},{"id":"7b25ef62-ad7c-463a-b6d4-1da5d3748391","block_type":"box","text":"UK Institutional","page_number":178,"box":{"x":72,"y":222,"width":189,"height":8}},{"id":"a6f93eb3-55ef-4d4c-9ae0-44257658d0ad","block_type":"box","text":"Accumulation Units (%)","page_number":178,"box":{"x":71,"y":234,"width":156,"height":10}},{"id":"ede7cb31-c999-43ab-92a3-d2390c60159c","block_type":"box","text":"ACS (Fund of Fund)","page_number":178,"box":{"x":71,"y":259,"width":190,"height":10}},{"id":"56c7515d-0201-498b-8658-e8ff8db21c71","block_type":"box","text":"Accumulation Units Class 1","page_number":178,"box":{"x":71,"y":271,"width":188,"height":8}},{"id":"1308f5d6-a9a0-4235-9411-eb9267984659","block_type":"box","text":"(%)","page_number":178,"box":{"x":72,"y":283,"width":21,"height":10}},{"id":"6b3b93bc-9c59-46ec-b3ac-ab21843d869f","block_type":"box","text":"ACS (Fund of Fund)","page_number":178,"box":{"x":71,"y":308,"width":190,"height":10}},{"id":"561100b4-2ba6-4e07-ae3d-20ae5fb9e37d","block_type":"box","text":"Accumulation Units Class 2","page_number":178,"box":{"x":71,"y":320,"width":190,"height":8}},{"id":"98cf7dd0-9c4b-4c67-9e20-0b2a3a642859","block_type":"box","text":"(%)","page_number":178,"box":{"x":72,"y":333,"width":21,"height":10}},{"id":"642369e1-342a-4da9-a24d-0864e936edb8","block_type":"box","text":"UK Corporate Accumulation","page_number":178,"box":{"x":72,"y":357,"width":189,"height":10}},{"id":"01ec1610-47e8-43f1-8d45-5d80e1bbcce9","block_type":"box","text":"Units (%)","page_number":178,"box":{"x":72,"y":370,"width":60,"height":10}},{"id":"26502857-6b43-46c5-973f-77399557f1d4","block_type":"box","text":"Insured Pension","page_number":178,"box":{"x":72,"y":395,"width":189,"height":7}},{"id":"42de217c-b2fa-4d00-8b28-661bf21e4511","block_type":"box","text":"Accumulation Units (%)","page_number":178,"box":{"x":71,"y":407,"width":156,"height":10}},{"id":"503cd709-3e2d-45f5-a6ec-ec3a20b67707","block_type":"box","text":"UK Fund of Fund","page_number":178,"box":{"x":72,"y":432,"width":189,"height":8}},{"id":"b94ba34a-8287-4f84-b39e-9e3faf0ab315","block_type":"box","text":"Accumulation Units (%)","page_number":178,"box":{"x":71,"y":444,"width":156,"height":10}},{"id":"6ba2de38-34d3-4b7b-91e4-b002951e4b84","block_type":"box","text":"Index – Benchmark – SONIA","page_number":178,"box":{"x":72,"y":471,"width":190,"height":8}},{"id":"15ca3ff0-d6e8-4713-bfa9-2cebfff441ae","block_type":"box","text":"plus 2.5%","page_number":178,"box":{"x":71,"y":484,"width":66,"height":10}},{"id":"eb4980f9-f338-423f-acf2-cb3b2a0dcd78","block_type":"box","text":"(prior to 1 December 2021,","page_number":178,"box":{"x":73,"y":502,"width":188,"height":10}},{"id":"6515a7b5-4a2a-4110-a980-485c2cb3699d","block_type":"box","text":"the target benchmark of this","page_number":178,"box":{"x":72,"y":514,"width":190,"height":10}},{"id":"402b32aa-3ad1-4352-846c-0ddd860d128c","block_type":"box","text":"Sub-Fund was UK GBP 3","page_number":178,"box":{"x":72,"y":526,"width":190,"height":9}},{"id":"e0b837f0-9d76-4c48-bd65-9c18dc6e34bd","block_type":"box","text":"Month LIBOR plus 2.5%,","page_number":178,"box":{"x":72,"y":539,"width":189,"height":10}},{"id":"aa866bfc-dd15-4532-bdb3-078f7d0f896b","block_type":"box","text":"and therefore the","page_number":178,"box":{"x":72,"y":551,"width":190,"height":8}},{"id":"963b6194-4b84-4464-9c1c-ea0e55770f2f","block_type":"box","text":"performance data shown","page_number":178,"box":{"x":71,"y":563,"width":191,"height":10}},{"id":"d9169296-f074-4db2-9c00-beb45e1d82f4","block_type":"box","text":"prior to this date relates to","page_number":178,"box":{"x":71,"y":576,"width":191,"height":10}},{"id":"36089402-5de3-4315-afb3-7ed62d8989df","block_type":"box","text":"this previous benchmark)","page_number":178,"box":{"x":72,"y":588,"width":168,"height":10}},{"id":"8376640c-fe62-4097-ae2b-9b41660a934b","block_type":"box","text":"7.85","page_number":178,"box":{"x":282,"y":472,"width":28,"height":7}},{"id":"a6592689-db43-490e-b35a-d24909c56d7c","block_type":"box","text":"7.33","page_number":178,"box":{"x":395,"y":472,"width":29,"height":7}},{"id":"1d0bda96-f9d5-48a9-a9ef-73ba9801a049","block_type":"box","text":"3.91","page_number":178,"box":{"x":508,"y":472,"width":28,"height":7}},{"id":"3f721f02-c78e-4c63-9ec5-7e08990a5a20","block_type":"box","text":"2.6","page_number":178,"box":{"x":621,"y":472,"width":21,"height":7}},{"id":"e5177148-0370-49ec-9959-49e8c5aa1e85","block_type":"box","text":"0.3","page_number":178,"box":{"x":735,"y":472,"width":20,"height":7}},{"id":"102cfbc9-567e-4cc4-a608-26ab979d0aa3","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":179,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"5dcb6a5b-e896-4fdd-a2ec-0f32ba042958","block_type":"box","text":"179","page_number":179,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"d6ba7b0e-05bb-4399-8cfd-c67d8937b8bf","block_type":"box","text":"Aviva Investors: Confidential","page_number":179,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"3fd7cae5-fa22-4072-bad1-5a778a81efac","block_type":"box","text":"AI UK Equity Alpha Fund","page_number":179,"box":{"x":62,"y":78,"width":197,"height":11}},{"id":"7f8da160-7919-4352-8dea-703eaf96d374","block_type":"box","text":"FCA product reference number: 757482","page_number":179,"box":{"x":63,"y":98,"width":312,"height":11}},{"id":"a818de1e-cd02-43c6-9253-13c67069ce9c","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":179,"box":{"x":62,"y":137,"width":860,"height":10}},{"id":"fbe28cc8-5e40-4b54-b935-66b4a0f96fb2","block_type":"box","text":"was authorised by the FCA on 26 April 2016.","page_number":179,"box":{"x":62,"y":150,"width":331,"height":12}},{"id":"ee14fac4-a6ea-4b40-9b8e-69f7c90e56e6","block_type":"box","text":"Investment Objective and Policy","page_number":179,"box":{"x":62,"y":190,"width":257,"height":11}},{"id":"70690a87-4c1a-4502-907f-98d303cf6efb","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of UK","page_number":179,"box":{"x":62,"y":209,"width":861,"height":11}},{"id":"89c24a02-d2ce-4e9b-aa9c-4c8ceb805537","block_type":"box","text":"companies.","page_number":179,"box":{"x":62,"y":223,"width":84,"height":11}},{"id":"17df9720-adf3-44e7-b10a-3bc526ee3108","block_type":"box","text":"Core investment:","page_number":179,"box":{"x":62,"y":242,"width":135,"height":9}},{"id":"058047df-638e-4543-9e7a-f527d7e09562","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of companies domiciled or incorporated in the UK.","page_number":179,"box":{"x":62,"y":262,"width":785,"height":11}},{"id":"ebd0d77e-12bb-4a68-9f24-e50d7272b416","block_type":"box","text":"Other investments:","page_number":179,"box":{"x":62,"y":282,"width":151,"height":9}},{"id":"c2a1a722-8809-4999-9009-5937e047c72b","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies),","page_number":179,"box":{"x":62,"y":301,"width":860,"height":11}},{"id":"ae3a91eb-62cc-4e7d-a352-3a8f8f030709","block_type":"box","text":"derivatives, cash and deposits.","page_number":179,"box":{"x":62,"y":315,"width":228,"height":11}},{"id":"1b9f6bf2-a5ee-44f5-b198-61e96ec2f650","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":179,"box":{"x":63,"y":335,"width":860,"height":11}},{"id":"cda1e616-2630-4037-bbf4-76c0e9897491","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":179,"box":{"x":62,"y":348,"width":861,"height":11}},{"id":"50dbcf74-ecf4-46a0-b056-434995b2d2f0","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":179,"box":{"x":62,"y":362,"width":545,"height":11}},{"id":"eb0666bd-7c90-4d93-a756-fd17a0c9123d","block_type":"box","text":"Strategy:","page_number":179,"box":{"x":62,"y":381,"width":70,"height":12}},{"id":"5c759300-16e2-4aed-bc41-6a9c4ca03a00","block_type":"box","text":"The Sub-Fund is actively managed allowing the Investment Manager the freedom to invest in UK companies of any","page_number":179,"box":{"x":62,"y":401,"width":861,"height":11}},{"id":"6ffba372-6beb-4697-90ae-37eefb7a3286","block_type":"box","text":"size, and at any stage of the business cycle. This is balanced by an emphasis on risk management within the Sub","page_number":179,"box":{"x":62,"y":415,"width":860,"height":11}},{"id":"d432d5b1-b25b-4e93-b156-c3119037e29a","block_type":"box","text":"Fund, so the portfolio will be built from a diverse range of companies across different industry sectors.","page_number":179,"box":{"x":63,"y":428,"width":751,"height":12}},{"id":"0a69c848-04c1-4315-bdd2-e7d2abe7f3b4","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":179,"box":{"x":62,"y":448,"width":527,"height":11}},{"id":"40b19d7e-e8f0-41ad-885c-ea2fbd55778b","block_type":"box","text":"please see Appendix 2 for information on","page_number":179,"box":{"x":594,"y":448,"width":328,"height":11}},{"id":"808bd82a-fdff-42c0-b5fe-09341aa342ec","block_type":"box","text":"these limited investment restrictions.","page_number":179,"box":{"x":62,"y":462,"width":295,"height":8}},{"id":"840ef166-92f7-4b4a-9dd3-c02afde23a3e","block_type":"box","text":"Performance & Risk Measurement:","page_number":179,"box":{"x":63,"y":481,"width":275,"height":9}},{"id":"765feaae-c5bd-454a-9897-c0474feeb84f","block_type":"box","text":"The Sub-Fund’s performance is compared against the against the FTSE® All Share Index (excluding Aviva and","page_number":179,"box":{"x":62,"y":501,"width":860,"height":11}},{"id":"a03a7669-4b4a-4b1a-bdb0-b92208db5af9","block_type":"box","text":"excluding Investment Trusts) (the “Index”)","page_number":179,"box":{"x":62,"y":514,"width":309,"height":12}},{"id":"b51d9e4e-6246-4561-9d03-30f5aa8fa00e","block_type":"box","text":"□","page_number":179,"box":{"x":373,"y":516,"width":5,"height":4}},{"id":"3f9fb763-d5af-4f9f-8038-32644c38c577","block_type":"box","text":".","page_number":179,"box":{"x":380,"y":522,"width":2,"height":1}},{"id":"854c3766-e2ff-4260-babc-9b54bf4dadb0","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":179,"box":{"x":62,"y":534,"width":860,"height":11}},{"id":"b1178f0c-6efa-4df9-b9fb-c588dc2d67cc","block_type":"box","text":"may also hold companies that do not form part of it. The Sub-Fund will not invest in shares of companies within the","page_number":179,"box":{"x":62,"y":548,"width":861,"height":11}},{"id":"92348d0b-303c-4376-908b-5c75a16066fc","block_type":"box","text":"Aviva Group. Any overweight position is capped at 4% of the Sub-Fund’s value over and above the Index weight of","page_number":179,"box":{"x":62,"y":561,"width":861,"height":12}},{"id":"6df1ca02-d34b-4ed1-bfc6-bc2ab2fda264","block_type":"box","text":"that company.","page_number":179,"box":{"x":62,"y":575,"width":103,"height":11}},{"id":"6a3358a6-bfd3-4c19-aa46-69e98e49357f","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":179,"box":{"x":62,"y":594,"width":861,"height":12}},{"id":"00c8d051-41bb-4686-b6f7-31d2c06dbcb0","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":179,"box":{"x":63,"y":608,"width":859,"height":11}},{"id":"26ccd1d3-93ee-42ce-950d-5130e96b1cda","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2.25% and 6.75%","page_number":179,"box":{"x":62,"y":622,"width":861,"height":11}},{"id":"354ac773-c932-49e9-8f69-266b86c3d603","block_type":"box","text":"when compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":179,"box":{"x":62,"y":636,"width":695,"height":11}},{"id":"fe68378c-aa16-4890-b7cd-f81739b9429a","block_type":"box","text":"The Index represents the performance of all eligible companies listed on the London Stock Exchange, and 98% of","page_number":179,"box":{"x":62,"y":655,"width":861,"height":11}},{"id":"ff8f94db-7714-430a-9626-a6b2fe38f2ac","block_type":"box","text":"the UK's market capitalisation (total market value of a company's outstanding shares).","page_number":179,"box":{"x":62,"y":669,"width":636,"height":11}},{"id":"35956f74-8cd6-44bf-a3aa-79f5af8cda0d","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":179,"box":{"x":62,"y":689,"width":861,"height":11}},{"id":"47fb5aaa-c22a-4351-8b91-2981d46edca7","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest and includes the Sub-Fund’s prohibition on investment","page_number":179,"box":{"x":62,"y":702,"width":861,"height":11}},{"id":"7c4d0172-b0c1-4a97-85be-40c917b4a6b0","block_type":"box","text":"in shares of companies within the Aviva Group, and it is therefore an appropriate comparator for the Sub-Fund’s","page_number":179,"box":{"x":62,"y":716,"width":861,"height":11}},{"id":"9a2ead4b-2299-4141-8eb9-efe8d4d50a8e","block_type":"box","text":"performance.","page_number":179,"box":{"x":62,"y":729,"width":97,"height":11}},{"id":"61ed9c46-8174-4f43-93ad-521c2be52002","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":180,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"148e84f3-aca8-4fe7-ba26-5cef5f9d9db7","block_type":"box","text":"180","page_number":180,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"8fa8468d-f1a1-4f95-90ab-5fddfdbf047c","block_type":"box","text":"Aviva Investors: Confidential","page_number":180,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"eac815e6-aa55-4985-bfc6-715401427410","block_type":"box","text":"Additional Information","page_number":180,"box":{"x":62,"y":72,"width":177,"height":9}},{"id":"85861aa6-965d-48ed-8f16-cbfe0f5453df","block_type":"box","text":"Investment Manager","page_number":180,"box":{"x":118,"y":98,"width":151,"height":12}},{"id":"cfa54fd9-dbca-4e10-a192-2389b6748e5b","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":180,"box":{"x":352,"y":98,"width":294,"height":9}},{"id":"d5879c71-6e0f-49d9-9e25-5bc2f6d185c6","block_type":"box","text":"Type of Units","page_number":180,"box":{"x":116,"y":124,"width":98,"height":12}},{"id":"626f61dc-fa21-4996-872d-db748f90d5c8","block_type":"box","text":"UK Corporate Accumulation Units","page_number":180,"box":{"x":353,"y":124,"width":250,"height":11}},{"id":"d63c8600-6fcb-4dd6-a568-776c5d0d3dda","block_type":"box","text":"Insured Pension Accumulation Units","page_number":180,"box":{"x":354,"y":151,"width":267,"height":8}},{"id":"9e17b37d-7e80-46fd-ac5f-4e93b0d561ae","block_type":"box","text":"UK Institutional Accumulation Units","page_number":180,"box":{"x":353,"y":177,"width":260,"height":9}},{"id":"879ed3ac-a004-4184-a280-9d940f6a6ea9","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":180,"box":{"x":353,"y":203,"width":275,"height":9}},{"id":"36adae2d-7084-4c6b-9c4c-5cd06b3c2024","block_type":"box","text":"Dealing Day","page_number":180,"box":{"x":118,"y":229,"width":89,"height":11}},{"id":"9d7b3bb3-c5c9-4fb0-814f-3256133f2561","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":180,"box":{"x":354,"y":229,"width":393,"height":11}},{"id":"24005919-9183-4da5-978a-74945a30f55a","block_type":"box","text":"Deal Cut-Off Point","page_number":180,"box":{"x":118,"y":255,"width":134,"height":9}},{"id":"d34817d3-977b-4ed3-97ef-8ce7e4866f18","block_type":"box","text":"1.00 p.m.","page_number":180,"box":{"x":354,"y":255,"width":66,"height":11}},{"id":"aaba8951-5986-411d-980b-a761db5b8863","block_type":"box","text":"Valuation Point","page_number":180,"box":{"x":117,"y":281,"width":112,"height":9}},{"id":"e428d34b-631d-49e4-b3d3-5a00f2818e96","block_type":"box","text":"2.00 p.m.","page_number":180,"box":{"x":353,"y":282,"width":67,"height":10}},{"id":"0a7e71d7-d2b5-4474-a835-fad945dad4ac","block_type":"box","text":"*Minimum Investment","page_number":180,"box":{"x":117,"y":307,"width":172,"height":9}},{"id":"15709e58-6072-4a44-b32d-7de2c7ac3dad","block_type":"box","text":"UK Corporate Accumulation","page_number":180,"box":{"x":118,"y":333,"width":215,"height":11}},{"id":"bfb74372-1ad9-41a4-b2d8-d96763360113","block_type":"box","text":"Units, Insured Pension","page_number":180,"box":{"x":118,"y":347,"width":215,"height":10}},{"id":"0c8c97e0-8aff-4f56-ac60-34b438a7123a","block_type":"box","text":"Accumulation Units, UK","page_number":180,"box":{"x":116,"y":361,"width":218,"height":10}},{"id":"914331cd-680e-4efb-aeb2-7c89cce8b59d","block_type":"box","text":"Institutional Accumulation","page_number":180,"box":{"x":118,"y":375,"width":215,"height":8}},{"id":"71b20070-2e40-4261-bf02-6f05d57d4178","block_type":"box","text":"Units, UK Fund of Fund","page_number":180,"box":{"x":118,"y":388,"width":215,"height":10}},{"id":"c14e6155-967b-4bf5-8007-0caebd40c355","block_type":"box","text":"Accumulation Units.","page_number":180,"box":{"x":116,"y":402,"width":147,"height":8}},{"id":"3143e328-19ec-4e70-a844-3d1951f93551","block_type":"box","text":"No minimum","page_number":180,"box":{"x":353,"y":334,"width":92,"height":8}},{"id":"8b4cfa93-3bf0-4b3d-a3d7-d7f482ccc218","block_type":"box","text":"Minimum withdrawal","page_number":180,"box":{"x":117,"y":428,"width":150,"height":9}},{"id":"fb33e41f-5f5a-4ca4-8700-469c336d8583","block_type":"box","text":"No minimum","page_number":180,"box":{"x":353,"y":428,"width":92,"height":9}},{"id":"dcda7503-88b2-4366-905f-903892f0b8f3","block_type":"box","text":"Tax Criteria for investment","page_number":180,"box":{"x":116,"y":454,"width":213,"height":9}},{"id":"9317f56d-876d-4e61-aa00-3011cad8ca63","block_type":"box","text":"UK Corporate Accumulation","page_number":180,"box":{"x":118,"y":479,"width":215,"height":11}},{"id":"348519e2-1fef-4bfe-9ec7-2c1659b5642a","block_type":"box","text":"Units","page_number":180,"box":{"x":118,"y":493,"width":36,"height":9}},{"id":"0348e7eb-e438-4696-9ccf-7a212a51f640","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":180,"box":{"x":352,"y":479,"width":404,"height":12}},{"id":"0db0ae94-21e0-44bd-b9e2-56d94cb6753c","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":180,"box":{"x":353,"y":493,"width":404,"height":11}},{"id":"4d631f9f-147a-4e70-99de-7c436de61cf3","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":180,"box":{"x":352,"y":507,"width":405,"height":11}},{"id":"2381638a-e6fa-42bc-8aa2-c826d5002a11","block_type":"box","text":"linked pension business contracts.","page_number":180,"box":{"x":353,"y":521,"width":253,"height":11}},{"id":"597116af-261a-4879-9fa1-a37a832bbe82","block_type":"box","text":"Insured Pension","page_number":180,"box":{"x":118,"y":546,"width":215,"height":9}},{"id":"815cc53c-ef1e-42c5-a56b-1e480fb0644b","block_type":"box","text":"Accumulation Units","page_number":180,"box":{"x":116,"y":560,"width":143,"height":9}},{"id":"ca6e64d1-16d2-4110-a3d8-5633a417ed3d","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":180,"box":{"x":352,"y":546,"width":404,"height":11}},{"id":"9c196956-9234-4db4-a666-b92cb62191ca","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":180,"box":{"x":353,"y":560,"width":404,"height":11}},{"id":"6747300b-02a7-4703-a125-afcd94f20770","block_type":"box","text":"back exclusively its unit linked pension business","page_number":180,"box":{"x":353,"y":573,"width":404,"height":11}},{"id":"0ca04f05-eb1e-4ffa-830c-f88efa1ae7cd","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":180,"box":{"x":353,"y":587,"width":404,"height":11}},{"id":"d3132847-2361-4091-9d1a-758287acc45e","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":180,"box":{"x":353,"y":601,"width":307,"height":11}},{"id":"6c71881a-15ae-4bfc-bada-134db912775e","block_type":"box","text":"UK Institutional","page_number":180,"box":{"x":118,"y":626,"width":110,"height":9}},{"id":"84bf9128-5f8a-4321-a34e-e551e4eddf86","block_type":"box","text":"Accumulation Units","page_number":180,"box":{"x":116,"y":640,"width":143,"height":9}},{"id":"ab7109fc-2aa6-43de-a492-8db44726b311","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":180,"box":{"x":352,"y":626,"width":404,"height":11}},{"id":"558fa35a-1e4b-4ddd-be1a-64d5631e066f","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":180,"box":{"x":353,"y":640,"width":403,"height":11}},{"id":"3206d449-7cad-4f23-8028-e379b54ebeac","block_type":"box","text":"tax treaties.","page_number":180,"box":{"x":352,"y":654,"width":85,"height":8}},{"id":"15dfa0c5-8bee-4efb-8d61-1324aad9b4cf","block_type":"box","text":"UK Fund of Fund","page_number":180,"box":{"x":118,"y":685,"width":125,"height":9}},{"id":"5230ef3c-6f10-4d40-806f-602dcda2c8fd","block_type":"box","text":"Accumulation Units","page_number":180,"box":{"x":116,"y":699,"width":143,"height":8}},{"id":"41ded519-3c8c-4ba9-b646-158cafe5faf0","block_type":"box","text":"A sub-fund of a UK authorised Open Ended Investment","page_number":180,"box":{"x":352,"y":685,"width":405,"height":11}},{"id":"7eb747a8-9ecd-4416-9956-d2f977c04f96","block_type":"box","text":"Company which is part of or otherwise managed by the","page_number":180,"box":{"x":353,"y":698,"width":403,"height":12}},{"id":"545c265b-47f6-46da-82b7-a7b07ed47748","block_type":"box","text":"Aviva Group.","page_number":180,"box":{"x":352,"y":712,"width":96,"height":11}},{"id":"5a2d698d-dd1e-421a-a098-489374c992a2","block_type":"box","text":"**Current Charges:","page_number":180,"box":{"x":117,"y":744,"width":149,"height":11}},{"id":"1ba92532-f5cb-4499-a4e3-5d9f0e284129","block_type":"box","text":"UK Corporate Accumulation","page_number":180,"box":{"x":118,"y":770,"width":205,"height":11}},{"id":"ad94956e-1bce-4261-b252-56f3aef352bc","block_type":"box","text":"Units, Insured Pension","page_number":180,"box":{"x":118,"y":784,"width":166,"height":10}},{"id":"c3fb5c0a-91cc-467a-b06b-6c0bb56c71ec","block_type":"box","text":"Accumulation Units,","page_number":180,"box":{"x":116,"y":797,"width":147,"height":10}},{"id":"6902dd32-a438-4685-aa26-47993512fc0e","block_type":"box","text":"UK","page_number":180,"box":{"x":271,"y":797,"width":21,"height":9}},{"id":"995d582a-c7de-4330-97c5-f44adb0a0353","block_type":"box","text":"Institutional Accumulation","page_number":180,"box":{"x":118,"y":811,"width":187,"height":9}},{"id":"e311e735-1738-46da-9c6b-ac0f74b8c7bc","block_type":"box","text":"Units","page_number":180,"box":{"x":118,"y":825,"width":36,"height":8}},{"id":"714c12ca-6adb-4ab7-9c4a-62aee4654623","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":180,"box":{"x":352,"y":770,"width":404,"height":11}},{"id":"60352d11-bdd8-4a6a-a70d-c07e113d2111","block_type":"box","text":"Unitholder","page_number":180,"box":{"x":353,"y":784,"width":75,"height":8}},{"id":"e7994914-52f8-4b17-bcfb-75707cec58e3","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":180,"box":{"x":352,"y":803,"width":404,"height":11}},{"id":"4268d200-f2b1-4fa1-9c7e-034cb3785433","block_type":"box","text":"property","page_number":180,"box":{"x":353,"y":817,"width":60,"height":11}},{"id":"8318fbcb-fd04-47db-8242-8d11bc8f7317","block_type":"box","text":"UK Fund of Fund","page_number":180,"box":{"x":118,"y":851,"width":125,"height":8}},{"id":"6d8661e8-e13e-460a-a48a-01437cd951a4","block_type":"box","text":"Accumulation Units","page_number":180,"box":{"x":116,"y":864,"width":143,"height":9}},{"id":"413f6d67-9f24-4391-8be3-e989fdb9d4eb","block_type":"box","text":"ACS management charge: Deducted from the Scheme","page_number":180,"box":{"x":352,"y":850,"width":404,"height":12}},{"id":"c95f9682-e626-4e5a-bf0d-969072e997b0","block_type":"box","text":"property of the FoF Units","page_number":180,"box":{"x":353,"y":864,"width":184,"height":11}},{"id":"f6b760fd-ea91-42bb-9d3d-48eab0adc87b","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":180,"box":{"x":352,"y":884,"width":404,"height":11}},{"id":"809cfa57-1d1e-453a-8688-810fbf2c9a4a","block_type":"box","text":"property of the FoF Units","page_number":180,"box":{"x":353,"y":897,"width":184,"height":12}},{"id":"24a32182-c93e-48d6-b8f2-10e8f0ae5508","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":181,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"1cc4ad43-3e86-423a-8b84-4c76073efdbe","block_type":"box","text":"181","page_number":181,"box":{"x":781,"y":940,"width":16,"height":6}},{"id":"43b1a304-5b29-42f5-85d7-bddd43a6a3c8","block_type":"box","text":"Aviva Investors: Confidential","page_number":181,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"0cd0a0fd-5ad4-43ec-840d-c845b41352b5","block_type":"box","text":"Accounting Dates","page_number":181,"box":{"x":117,"y":59,"width":141,"height":11}},{"id":"dd829f9c-453a-4ea3-a1b5-3c09a3fab88a","block_type":"box","text":"Annual Accounting Date","page_number":181,"box":{"x":116,"y":85,"width":180,"height":11}},{"id":"14eac4ae-4072-440a-adf4-b8e58aadb850","block_type":"box","text":"31 December","page_number":181,"box":{"x":353,"y":85,"width":100,"height":9}},{"id":"ed059550-0326-46e0-aea4-bbdadbdb465c","block_type":"box","text":"First Accounting Date","page_number":181,"box":{"x":118,"y":111,"width":158,"height":12}},{"id":"c021496b-782c-432b-9819-0690b7a41732","block_type":"box","text":"31 December 2017","page_number":181,"box":{"x":353,"y":111,"width":141,"height":9}},{"id":"61283102-4d97-4e37-b4fe-b77433659ab3","block_type":"box","text":"Annual Income Allocation","page_number":181,"box":{"x":116,"y":138,"width":188,"height":8}},{"id":"9b10e2ae-404f-4af6-8c62-6dff09a46f44","block_type":"box","text":"Date","page_number":181,"box":{"x":118,"y":151,"width":33,"height":9}},{"id":"6f4d7e3d-be8a-4678-960d-f5d8518bbfe8","block_type":"box","text":"On or before 28 /29 February","page_number":181,"box":{"x":353,"y":137,"width":217,"height":12}},{"id":"0421fdb8-445d-4c71-9d9e-af040380cd13","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":181,"box":{"x":118,"y":177,"width":293,"height":12}},{"id":"e6cb24aa-a6c7-476f-9db7-06856b69008a","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":181,"box":{"x":62,"y":203,"width":861,"height":11}},{"id":"497db286-d133-4459-aca9-dbdf46d31880","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":181,"box":{"x":62,"y":217,"width":408,"height":11}},{"id":"b944ae7e-0ac9-462b-b29c-a2d399c1ee7a","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":181,"box":{"x":62,"y":237,"width":642,"height":11}},{"id":"4f8e50aa-85ce-4767-94b5-e601bd78246a","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":181,"box":{"x":62,"y":256,"width":860,"height":11}},{"id":"ecb93012-58ec-4c73-94e7-682211f0117e","block_type":"box","text":"this Prospectus.","page_number":181,"box":{"x":62,"y":270,"width":117,"height":11}},{"id":"40a09a3a-035a-49cd-9126-d24747505518","block_type":"box","text":"□","page_number":181,"box":{"x":62,"y":291,"width":5,"height":4}},{"id":"44847ec9-f564-434a-8394-da6c270036b3","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":181,"box":{"x":74,"y":289,"width":342,"height":9}},{"id":"1d355e62-6382-462b-b3a1-ef65f4a0e228","block_type":"box","text":"Securities Financing and other Transactions:","page_number":181,"box":{"x":62,"y":323,"width":358,"height":11}},{"id":"9a234879-0f6c-460a-aa04-58bb6c9dca4a","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":181,"box":{"x":62,"y":342,"width":860,"height":12}},{"id":"9289fa54-1b39-4c15-ba11-523fed16de7d","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":181,"box":{"x":62,"y":356,"width":438,"height":11}},{"id":"f924f348-8b62-4040-9ff4-b9645ca40318","block_type":"box","text":"The maximum proportion of the assets of the Sub-Fund which may be subject to securities lending or repo","page_number":181,"box":{"x":62,"y":415,"width":787,"height":11}},{"id":"5533fc96-a2cd-461f-b6de-0599c82caa0d","block_type":"box","text":"transactions is as follows:","page_number":181,"box":{"x":62,"y":430,"width":188,"height":9}},{"id":"023ba95c-ccbb-45a5-9a64-548c87b58d7d","block_type":"box","text":"Securities Lending","page_number":181,"box":{"x":72,"y":467,"width":125,"height":11}},{"id":"b409bcd7-8576-43e3-a45c-53d569defdaa","block_type":"box","text":"50%","page_number":181,"box":{"x":460,"y":467,"width":28,"height":8}},{"id":"40056306-d40b-48ff-aefa-ad353b170bc4","block_type":"box","text":"Repo Transactions","page_number":181,"box":{"x":71,"y":489,"width":125,"height":10}},{"id":"0e75e9b8-1186-42be-bccc-9d2973f67bf8","block_type":"box","text":"50%","page_number":181,"box":{"x":460,"y":489,"width":28,"height":8}},{"id":"4c2aa0ea-143c-4b86-b88c-d00ec946323c","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":181,"box":{"x":62,"y":530,"width":823,"height":11}},{"id":"ebb749ba-e6fd-48ef-8aa3-d1c1d8771ed7","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to securities lending or repo","page_number":181,"box":{"x":62,"y":546,"width":823,"height":11}},{"id":"c0ce95de-5d1d-4e02-8c12-e815d8fb4691","block_type":"box","text":"transactions is as follows:","page_number":181,"box":{"x":62,"y":562,"width":188,"height":8}},{"id":"d7ef31b3-544a-4fa6-b10e-8e9651a6e46e","block_type":"box","text":"Securities Lending","page_number":181,"box":{"x":72,"y":598,"width":125,"height":11}},{"id":"1f535e4f-b236-4222-9007-6797601ebffa","block_type":"box","text":"15","page_number":181,"box":{"x":461,"y":598,"width":14,"height":8}},{"id":"13703a35-f2fc-4096-bc9c-b1d2dfab3a99","block_type":"box","text":"%","page_number":181,"box":{"x":477,"y":598,"width":11,"height":8}},{"id":"3cdf94c6-988d-48bf-be8b-e087adc0439f","block_type":"box","text":"Repo Transactions","page_number":181,"box":{"x":71,"y":620,"width":125,"height":11}},{"id":"8d9e1b34-03a6-48b7-bb0f-8bc7a56540ee","block_type":"box","text":"7.5%","page_number":181,"box":{"x":459,"y":620,"width":33,"height":8}},{"id":"0a92724c-115c-401a-a1f6-c8c0b9655989","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":181,"box":{"x":62,"y":679,"width":860,"height":11}},{"id":"2f10f87f-0698-4867-8340-66a282e43715","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":181,"box":{"x":62,"y":693,"width":860,"height":11}},{"id":"2cfe3cc5-a44f-432e-9059-9202722106d3","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":181,"box":{"x":62,"y":706,"width":861,"height":11}},{"id":"4b7d90d9-1db7-418b-9e4d-96e328decd07","block_type":"box","text":"is zero.","page_number":181,"box":{"x":62,"y":720,"width":52,"height":9}},{"id":"6b5a2023-9a7c-4706-92ab-a35d1420cabf","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":181,"box":{"x":62,"y":778,"width":249,"height":9}},{"id":"0d7f4c1b-1a3b-4ef7-ad23-19c69e9352db","block_type":"box","text":"Leverage","page_number":181,"box":{"x":63,"y":818,"width":72,"height":11}},{"id":"85bfdfa5-09fe-4615-8128-b76ec530ee89","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":181,"box":{"x":63,"y":837,"width":860,"height":12}},{"id":"ab7d75fc-ccc6-448a-87f8-a848c9321c16","block_type":"box","text":"management.","page_number":181,"box":{"x":62,"y":852,"width":101,"height":10}},{"id":"ce2a9a53-e526-4c51-8de2-968155857d09","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":181,"box":{"x":62,"y":884,"width":860,"height":11}},{"id":"39d3f0c9-5a6c-467f-a0be-1a8d9aceb843","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":181,"box":{"x":62,"y":898,"width":649,"height":11}},{"id":"cf761ce9-17ee-4935-a844-ff79cdc5efef","block_type":"box","text":"All transactions in derivatives are fully covered, and are not used as a means of gearing the Sub-Fund.","page_number":181,"box":{"x":62,"y":925,"width":760,"height":11}},{"id":"f8326a73-ff46-48d7-8c4b-038cd3c0e6a3","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":182,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"dcda321c-1c91-4eda-9241-42a7d77d0524","block_type":"box","text":"182","page_number":182,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"5c2247d1-8ac0-4069-9147-4dca572963c4","block_type":"box","text":"Aviva Investors: Confidential","page_number":182,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"26c3b8dd-0352-4524-8f8b-b2802a12bf3c","block_type":"box","text":"Permitted derivatives","page_number":182,"box":{"x":72,"y":69,"width":168,"height":9}},{"id":"d69fbdc0-2359-40cc-a07d-3706bb09b17b","block_type":"box","text":"Permitted?","page_number":182,"box":{"x":383,"y":69,"width":85,"height":9}},{"id":"359a97b8-4264-4b66-a93c-22e28bd38ad2","block_type":"box","text":"Prohibited?","page_number":182,"box":{"x":489,"y":69,"width":91,"height":9}},{"id":"2b6a775f-ff9b-4615-b86c-13e883339323","block_type":"box","text":"Equity index futures","page_number":182,"box":{"x":72,"y":89,"width":146,"height":12}},{"id":"1ce03cb1-15c5-4063-8005-8c742212fd92","block_type":"box","text":"√","page_number":182,"box":{"x":421,"y":90,"width":8,"height":7}},{"id":"1f6bd382-68bb-41e1-a4fd-1955a3e3e9fd","block_type":"box","text":"Government bond futures","page_number":182,"box":{"x":72,"y":108,"width":188,"height":9}},{"id":"4dc5f2ab-9bcc-4da1-8e2c-6867f3c42665","block_type":"box","text":"√","page_number":182,"box":{"x":530,"y":108,"width":8,"height":8}},{"id":"5a03ae73-56f9-41d7-96c5-25343d22e1f1","block_type":"box","text":"Equity index options","page_number":182,"box":{"x":72,"y":126,"width":148,"height":11}},{"id":"97432cd3-3ec6-44b3-bc2b-1b1ccbea09c4","block_type":"box","text":"√","page_number":182,"box":{"x":530,"y":127,"width":8,"height":7}},{"id":"4af64859-7809-40e3-afdc-76037f4b99ca","block_type":"box","text":"Forward foreign exchange","page_number":182,"box":{"x":72,"y":145,"width":193,"height":11}},{"id":"bf6568a9-269e-4049-b717-9641bebb6220","block_type":"box","text":"√","page_number":182,"box":{"x":421,"y":145,"width":8,"height":8}},{"id":"adcb634f-c028-4b2f-9e92-08ff12709b09","block_type":"box","text":"Index credit default swaps","page_number":182,"box":{"x":72,"y":163,"width":192,"height":11}},{"id":"cbabdf63-4796-41a7-81fa-60dbf67cce61","block_type":"box","text":"√","page_number":182,"box":{"x":530,"y":163,"width":8,"height":8}},{"id":"4c2b088d-d46a-4fcb-8614-29778af5ceeb","block_type":"box","text":"Interest rate swaps","page_number":182,"box":{"x":72,"y":182,"width":140,"height":10}},{"id":"ada60b0b-732a-47c4-9b1e-b76ce0f20b9c","block_type":"box","text":"√","page_number":182,"box":{"x":530,"y":182,"width":8,"height":8}},{"id":"d2ae8454-614d-4c80-8115-39e9d8547cff","block_type":"box","text":"OTC equity options","page_number":182,"box":{"x":72,"y":200,"width":142,"height":11}},{"id":"2f20544c-79ec-4f00-8ece-18fb86deaad7","block_type":"box","text":"√","page_number":182,"box":{"x":530,"y":200,"width":8,"height":8}},{"id":"52b3a8ab-8021-468f-8194-7b4ebfc73adc","block_type":"box","text":"Inflation swaps","page_number":182,"box":{"x":72,"y":218,"width":109,"height":11}},{"id":"f892e66c-d9c4-4c19-b0c7-741280e63c50","block_type":"box","text":"√","page_number":182,"box":{"x":530,"y":219,"width":8,"height":7}},{"id":"231d1f1d-3dd6-47a5-9954-b66f79f3f27c","block_type":"box","text":"Cross currency swaps","page_number":182,"box":{"x":72,"y":236,"width":163,"height":12}},{"id":"5056d819-aba4-4d49-bb4f-0541c77020c2","block_type":"box","text":"√","page_number":182,"box":{"x":530,"y":237,"width":8,"height":8}},{"id":"53410521-b0c5-498d-9ba8-9cb35b6d3d05","block_type":"box","text":"Other","page_number":182,"box":{"x":72,"y":255,"width":41,"height":9}},{"id":"5eb5789c-e488-4cb4-a981-d5a6c35b2da6","block_type":"box","text":"√","page_number":182,"box":{"x":530,"y":255,"width":8,"height":8}},{"id":"3bc6c082-099f-4088-a77d-8af36705978b","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":182,"box":{"x":63,"y":283,"width":860,"height":11}},{"id":"8a917bfa-8578-4165-9a47-1de98b83007b","block_type":"box","text":"2)","page_number":182,"box":{"x":62,"y":297,"width":13,"height":11}},{"id":"36d13a56-01c9-46dd-a6c5-002f27b6fccf","block_type":"box","text":"Leverage Limits","page_number":182,"box":{"x":63,"y":324,"width":128,"height":11}},{"id":"7edc3f7c-d6c5-4059-bc3f-870dbf864328","block_type":"box","text":"(Exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":182,"box":{"x":200,"y":324,"width":722,"height":11}},{"id":"db6a25a0-5cf1-4bc5-ad62-4ed33cdbb71e","block_type":"box","text":"Regime):","page_number":182,"box":{"x":63,"y":337,"width":65,"height":12}},{"id":"f0bbab01-588b-4022-b716-2d2d37b1dfd5","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":182,"box":{"x":62,"y":365,"width":471,"height":11}},{"id":"fe03a2ee-15cd-47ac-95dd-59e2eb817912","block_type":"box","text":"","page_number":182,"box":{"x":62,"y":396,"width":6,"height":4}},{"id":"b3977b9b-fcf4-4c33-8c51-a08e1749d2c4","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":182,"box":{"x":92,"y":393,"width":193,"height":11}},{"id":"73a988dd-e828-499c-9a1a-c1d39bd04681","block_type":"box","text":"","page_number":182,"box":{"x":62,"y":413,"width":6,"height":4}},{"id":"65375575-ae16-4753-b10a-e4c567637cb4","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":182,"box":{"x":92,"y":409,"width":183,"height":12}},{"id":"cd7d5496-0baf-45c1-b9dc-10d18602c379","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":182,"box":{"x":62,"y":437,"width":860,"height":11}},{"id":"12556a60-bea7-4bcf-a3a0-8d531a2146e3","block_type":"box","text":"which case leverage will not exceed the following:","page_number":182,"box":{"x":62,"y":451,"width":368,"height":11}},{"id":"6cc20af2-b470-450e-a664-a27cf8351270","block_type":"box","text":"","page_number":182,"box":{"x":62,"y":482,"width":6,"height":4}},{"id":"afc934d8-99b2-4242-a629-a7ab12392ab2","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":182,"box":{"x":92,"y":479,"width":193,"height":11}},{"id":"add36bf5-469c-462a-9e89-42f393a919d9","block_type":"box","text":"","page_number":182,"box":{"x":62,"y":499,"width":6,"height":4}},{"id":"2cf8fd96-0d15-4fa5-be21-4781e37996df","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":182,"box":{"x":92,"y":495,"width":183,"height":11}},{"id":"20eac813-b377-485d-8665-bae0519d1375","block_type":"box","text":"Specific Risks","page_number":182,"box":{"x":62,"y":523,"width":113,"height":11}},{"id":"324a4d6c-1c6f-4d32-9d1a-f3c703da5c5c","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":182,"box":{"x":181,"y":523,"width":462,"height":11}},{"id":"228391d5-96b1-46c7-8d10-d8f0d15d3e3a","block_type":"box","text":"","page_number":182,"box":{"x":62,"y":547,"width":6,"height":4}},{"id":"6aa43e89-8b56-4dd2-8757-61ca309b2b37","block_type":"box","text":"Smaller Companies","page_number":182,"box":{"x":92,"y":543,"width":145,"height":11}},{"id":"7645baba-7f23-4ff3-a024-f567389ae54b","block_type":"box","text":"","page_number":182,"box":{"x":62,"y":561,"width":6,"height":4}},{"id":"c3715824-9662-4d10-a3d9-db59c375b749","block_type":"box","text":"Concentration","page_number":182,"box":{"x":92,"y":558,"width":103,"height":9}},{"id":"174e3c95-9aac-4936-a24d-26716a53b1c9","block_type":"box","text":"","page_number":182,"box":{"x":62,"y":575,"width":6,"height":5}},{"id":"5191b740-5380-443f-a88c-7e378ea18403","block_type":"box","text":"Single Market","page_number":182,"box":{"x":92,"y":572,"width":102,"height":12}},{"id":"ecc7ae78-d22d-4c12-83bb-dded1bfe0de9","block_type":"box","text":"","page_number":182,"box":{"x":62,"y":590,"width":6,"height":4}},{"id":"09eab93b-2a91-4320-9ee1-8e9657fd31d0","block_type":"box","text":"Equity Securities","page_number":182,"box":{"x":93,"y":587,"width":123,"height":11}},{"id":"1ee98b5c-ba6c-4cac-8ecd-7cc35b08438a","block_type":"box","text":"Past Performance –","page_number":182,"box":{"x":72,"y":633,"width":156,"height":8}},{"id":"fac0e1b3-9523-423c-b18d-250e3f24954f","block_type":"box","text":"AI UK Equity Alpha Fund","page_number":182,"box":{"x":233,"y":633,"width":197,"height":11}},{"id":"f3a399ae-1f04-4b9f-b067-8b27dae53fda","block_type":"box","text":"% Growth","page_number":182,"box":{"x":71,"y":652,"width":77,"height":9}},{"id":"841b5c32-7a88-4e5f-8778-31e42b6df136","block_type":"box","text":"1/1/2024 to","page_number":182,"box":{"x":281,"y":678,"width":94,"height":8}},{"id":"4a6654b4-678e-4dbf-beb5-65585d94e107","block_type":"box","text":"31/12/2024","page_number":182,"box":{"x":280,"y":690,"width":75,"height":8}},{"id":"43202b84-de09-48f2-8023-69b98bbb447e","block_type":"box","text":"1/1/2023 to","page_number":182,"box":{"x":394,"y":678,"width":94,"height":8}},{"id":"998ec1cf-8460-4a1a-98a3-35c345398737","block_type":"box","text":"31/12/2023","page_number":182,"box":{"x":394,"y":690,"width":74,"height":8}},{"id":"848e5016-5699-45bc-84fd-ec5098ab580e","block_type":"box","text":"1/1/2022 to","page_number":182,"box":{"x":508,"y":678,"width":94,"height":8}},{"id":"694e4375-7ed0-4ddb-bb2d-c539c2862692","block_type":"box","text":"31/12/2022","page_number":182,"box":{"x":507,"y":690,"width":75,"height":8}},{"id":"7ebba90e-018c-4ced-b20c-59131e083a66","block_type":"box","text":"1/1/2021 to","page_number":182,"box":{"x":621,"y":678,"width":103,"height":8}},{"id":"d20c7fc2-93d0-491d-9de5-c9f257160d71","block_type":"box","text":"31/12/2021","page_number":182,"box":{"x":621,"y":690,"width":72,"height":8}},{"id":"12afe53b-c22d-4e98-b079-c56493a0e535","block_type":"box","text":"1/1/2020 to","page_number":182,"box":{"x":744,"y":678,"width":94,"height":8}},{"id":"9e935436-ab89-422a-8d99-3ba44656142d","block_type":"box","text":"31/12/2020","page_number":182,"box":{"x":743,"y":690,"width":75,"height":8}},{"id":"d9df746d-49ca-47f8-a485-96f77eb77065","block_type":"box","text":"UK Corporate Income","page_number":182,"box":{"x":72,"y":715,"width":189,"height":10}},{"id":"c9fb14ca-788a-499c-8d6d-ed2feb1232ca","block_type":"box","text":"Distribution Units (%)","page_number":182,"box":{"x":72,"y":727,"width":140,"height":10}},{"id":"ebdb7644-522d-4848-940a-def38f31aa90","block_type":"box","text":"Insured Pension Income","page_number":182,"box":{"x":72,"y":752,"width":189,"height":8}},{"id":"6cdd5d59-9658-4960-b80c-2bc8292cd46e","block_type":"box","text":"Distribution Units (%)","page_number":182,"box":{"x":72,"y":764,"width":140,"height":10}},{"id":"9cc05339-a41d-42b4-b5b6-52aa6dcb291e","block_type":"box","text":"UK Institutional","page_number":182,"box":{"x":72,"y":789,"width":189,"height":8}},{"id":"c6e6b030-8211-4404-a6c8-721d6a9bf91b","block_type":"box","text":"Accumulation Units (%)","page_number":182,"box":{"x":71,"y":801,"width":156,"height":10}},{"id":"f39d5386-d89c-41bf-8d19-4b136def8013","block_type":"box","text":"6.56","page_number":182,"box":{"x":280,"y":789,"width":29,"height":8}},{"id":"305d0e63-46af-4dfd-811a-eb9633527a96","block_type":"box","text":"10.04","page_number":182,"box":{"x":395,"y":789,"width":36,"height":8}},{"id":"851d98ca-800d-4fa3-945d-e8917e2f6bbe","block_type":"box","text":"-0.41","page_number":182,"box":{"x":507,"y":789,"width":31,"height":8}},{"id":"a2116688-efb5-4e55-8d5a-104be3eddb05","block_type":"box","text":"N/A","page_number":182,"box":{"x":621,"y":789,"width":24,"height":8}},{"id":"9c28521d-81ad-4d66-a084-074cb16b3809","block_type":"box","text":"N/A","page_number":182,"box":{"x":744,"y":789,"width":24,"height":8}},{"id":"2767a590-074c-4321-a32f-6bbe5a2df8e0","block_type":"box","text":"ACS (Fund of Fund)","page_number":182,"box":{"x":71,"y":832,"width":190,"height":10}},{"id":"2bf8054b-bb2b-43d8-a2c9-eb64f973f4ec","block_type":"box","text":"Accumulation Units Class 1","page_number":182,"box":{"x":71,"y":844,"width":188,"height":8}},{"id":"5ee7f962-0ba4-4141-9731-b51e5c0f3c55","block_type":"box","text":"(%)","page_number":182,"box":{"x":72,"y":856,"width":21,"height":11}},{"id":"2da3c1a1-8c48-486a-ae20-96badd312050","block_type":"box","text":"ACS (Fund of Fund)","page_number":182,"box":{"x":71,"y":881,"width":190,"height":10}},{"id":"0f1edb6f-da35-45fd-b2f0-6fecd481b9f5","block_type":"box","text":"Accumulation Units Class 2","page_number":182,"box":{"x":71,"y":893,"width":190,"height":9}},{"id":"0757b950-8537-48b1-b81e-c3eab7761606","block_type":"box","text":"(%)","page_number":182,"box":{"x":72,"y":906,"width":21,"height":10}},{"id":"13842578-d305-4265-869d-8d1332509bb6","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":183,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"47c9b692-e2c0-43f2-9d64-8cb8c5b6a6b0","block_type":"box","text":"183","page_number":183,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"04b836f0-b64c-4ec3-bccc-5bf034fdc5e5","block_type":"box","text":"Aviva Investors: Confidential","page_number":183,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"44104ece-b36f-49c6-8e40-773923703c40","block_type":"box","text":"UK Corporate Accumulation","page_number":183,"box":{"x":72,"y":59,"width":189,"height":10}},{"id":"d95b3650-3495-41dc-a57c-09f65d10f5a2","block_type":"box","text":"Units (%)","page_number":183,"box":{"x":72,"y":71,"width":60,"height":10}},{"id":"3bcc621b-53da-4ebb-aef1-85963641ea18","block_type":"box","text":"6.58","page_number":183,"box":{"x":280,"y":59,"width":29,"height":8}},{"id":"e271d9ff-71dd-4aec-8de4-68472c9e3da9","block_type":"box","text":"10.03","page_number":183,"box":{"x":395,"y":59,"width":36,"height":8}},{"id":"ebe541bc-ab20-4338-91d6-0bc94fc80dbf","block_type":"box","text":"-0.35","page_number":183,"box":{"x":507,"y":59,"width":34,"height":8}},{"id":"fbe933b8-7eba-40a0-afbb-a709bb1035e9","block_type":"box","text":"18.6","page_number":183,"box":{"x":622,"y":59,"width":27,"height":8}},{"id":"c4652286-749e-4337-abc8-8dcf3bd083e5","block_type":"box","text":"-6.3","page_number":183,"box":{"x":743,"y":59,"width":25,"height":8}},{"id":"9587cf5b-d054-467d-b0aa-d1c079370c96","block_type":"box","text":"Insured Pension","page_number":183,"box":{"x":72,"y":102,"width":189,"height":8}},{"id":"c5e039f2-a05d-4de0-a9ac-7b6cdc0f3296","block_type":"box","text":"Accumulation Units (%)","page_number":183,"box":{"x":71,"y":114,"width":156,"height":10}},{"id":"c6f79a00-65ae-4505-9bb4-9d2511749149","block_type":"box","text":"6.66","page_number":183,"box":{"x":280,"y":102,"width":29,"height":8}},{"id":"0c3d3d19-1791-4bd8-adbb-be861c265c1c","block_type":"box","text":"10.03","page_number":183,"box":{"x":395,"y":102,"width":36,"height":8}},{"id":"ed3306cd-4898-4cb7-8683-cef86071087f","block_type":"box","text":"-0.40","page_number":183,"box":{"x":507,"y":102,"width":34,"height":8}},{"id":"7a765001-0352-49e6-8006-ec27f258d534","block_type":"box","text":"18.6","page_number":183,"box":{"x":622,"y":102,"width":27,"height":8}},{"id":"53367071-f0ff-4e8f-b352-bd8a5c02e6a1","block_type":"box","text":"-6.3","page_number":183,"box":{"x":743,"y":102,"width":25,"height":8}},{"id":"026041d5-15b6-47e9-922f-7a69c8786e57","block_type":"box","text":"UK Fund of Fund","page_number":183,"box":{"x":72,"y":145,"width":189,"height":8}},{"id":"d37e3dd4-0035-4e04-beb9-8ac642b2c274","block_type":"box","text":"Accumulation Units (%)","page_number":183,"box":{"x":71,"y":157,"width":156,"height":10}},{"id":"0a3a7f34-3ea5-451e-addb-5f212b280e9a","block_type":"box","text":"6.58","page_number":183,"box":{"x":280,"y":145,"width":29,"height":8}},{"id":"65db768c-389e-4bdf-9616-b7b8952b8aa8","block_type":"box","text":"10.04","page_number":183,"box":{"x":395,"y":145,"width":36,"height":8}},{"id":"4929a095-dd7f-4ac9-b214-0424a7e040c1","block_type":"box","text":"-0.37","page_number":183,"box":{"x":507,"y":145,"width":34,"height":8}},{"id":"a351fcc2-8633-4eb9-8c21-76b13595fcac","block_type":"box","text":"18.6","page_number":183,"box":{"x":622,"y":145,"width":27,"height":8}},{"id":"f5374181-5749-47aa-8c92-97aa11f5852f","block_type":"box","text":"N/A","page_number":183,"box":{"x":744,"y":145,"width":24,"height":8}},{"id":"9f12942d-809b-4dc9-907f-ca2c4a2bacb9","block_type":"box","text":"Index - FTSE® All-Share","page_number":183,"box":{"x":72,"y":191,"width":190,"height":8}},{"id":"0a7ce191-847f-4bd0-9119-c4775afe8989","block_type":"box","text":"Index (ex Aviva and ex","page_number":183,"box":{"x":72,"y":203,"width":191,"height":10}},{"id":"9db5fc6a-e449-4fec-9e74-75874c841600","block_type":"box","text":"Investment Trusts)","page_number":183,"box":{"x":72,"y":215,"width":124,"height":10}},{"id":"d420cf23-7ec5-4422-ae79-f95b71a35b73","block_type":"box","text":"9.55","page_number":183,"box":{"x":281,"y":191,"width":29,"height":8}},{"id":"e0b06a81-91cb-41d3-bd6d-6aa0ef77b347","block_type":"box","text":"8.11","page_number":183,"box":{"x":394,"y":191,"width":28,"height":8}},{"id":"a2971f63-61ea-4972-bbd9-354faff2248c","block_type":"box","text":"1.63","page_number":183,"box":{"x":510,"y":191,"width":27,"height":8}},{"id":"646e3ab2-99bc-4d68-b751-5aee325a0850","block_type":"box","text":"14.7","page_number":183,"box":{"x":623,"y":191,"width":29,"height":8}},{"id":"435630b9-60f7-4c5c-9da7-b8a229642e47","block_type":"box","text":"-11.3","page_number":183,"box":{"x":744,"y":191,"width":34,"height":8}},{"id":"1d1cd9cc-c0ee-4b3f-b16b-de39b931c2ac","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":184,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"dd2a5a20-c703-4bc7-896d-9ebcfd9cef13","block_type":"box","text":"184","page_number":184,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"64cfc76b-05a1-42f3-865e-649a6615187a","block_type":"box","text":"Aviva Investors: Confidential","page_number":184,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"57fdc3ad-cb14-486d-ae1f-c41091fc3450","block_type":"box","text":"AI UK Equity Dividend Fund","page_number":184,"box":{"x":62,"y":59,"width":222,"height":11}},{"id":"f32cb4ee-c267-4238-b4ed-19ebe9af9958","block_type":"box","text":"FCA product reference number: 757484","page_number":184,"box":{"x":63,"y":78,"width":312,"height":11}},{"id":"46a25a8a-b06e-451b-ae5a-08759a431627","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":184,"box":{"x":62,"y":117,"width":860,"height":11}},{"id":"da8cbf7e-5e04-43d4-b018-0ca23b5908d5","block_type":"box","text":"was authorised by the FCA on 26 April 2016.","page_number":184,"box":{"x":62,"y":131,"width":331,"height":11}},{"id":"bd7d5e3c-1041-4798-bf29-fb6fd6fd2646","block_type":"box","text":"Investment Objective and Policy","page_number":184,"box":{"x":62,"y":170,"width":257,"height":11}},{"id":"3ad6c5e5-41c7-4d66-b489-27d31ce7cf3f","block_type":"box","text":"The Sub-Fund aims to deliver an income in excess of the income of the FTSE® All-Share ex IT ex Aviva Index (the","page_number":184,"box":{"x":62,"y":190,"width":861,"height":11}},{"id":"3ee99a9d-3607-4a7a-b071-1f7340593c38","block_type":"box","text":"“Index”) over 3-year rolling periods and provide an average annual net return greater than the Index over rolling 5-","page_number":184,"box":{"x":62,"y":203,"width":861,"height":12}},{"id":"cc6e3561-1042-417a-bd95-ee4281121ccc","block_type":"box","text":"year periods, by investing in shares of UK companies.","page_number":184,"box":{"x":62,"y":217,"width":398,"height":11}},{"id":"3750f90c-f5a9-43b3-8e5c-c339f33c458b","block_type":"box","text":"Both the income and return aims are measured before the deduction of Sub-Fund charges and tax.","page_number":184,"box":{"x":63,"y":236,"width":732,"height":12}},{"id":"1db6ecb5-dd83-412a-89ec-aa6eac09df09","block_type":"box","text":"Core investment:","page_number":184,"box":{"x":62,"y":256,"width":135,"height":9}},{"id":"c0f5f600-079d-4a0f-a1bf-93e2c19ab49a","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of companies domiciled or incorporated in the UK.","page_number":184,"box":{"x":62,"y":276,"width":785,"height":11}},{"id":"4ade6925-e597-4312-89d5-b70be76c2e47","block_type":"box","text":"Other investments","page_number":184,"box":{"x":62,"y":295,"width":146,"height":9}},{"id":"1db1e862-8852-46ce-bedf-c02c5f44f43b","block_type":"box","text":":","page_number":184,"box":{"x":210,"y":298,"width":2,"height":6}},{"id":"7b5c5218-4872-4e89-bf52-79424cf9ca09","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies),","page_number":184,"box":{"x":62,"y":315,"width":860,"height":11}},{"id":"6f37bbda-e839-4961-ab54-79e6bc5c7493","block_type":"box","text":"derivatives, cash and deposits.","page_number":184,"box":{"x":62,"y":329,"width":228,"height":11}},{"id":"24bd106a-d87d-4b19-b664-54c876552fec","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":184,"box":{"x":63,"y":348,"width":860,"height":11}},{"id":"9d0b3794-fa41-4509-8bea-10cb503972b4","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may","page_number":184,"box":{"x":62,"y":362,"width":861,"height":11}},{"id":"7a1c4fd3-48c6-40f4-8cfd-2f433012d468","block_type":"box","text":"also be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":184,"box":{"x":62,"y":375,"width":580,"height":12}},{"id":"b9a1278d-20e0-4721-9bd4-56cd706727b0","block_type":"box","text":"Strategy:","page_number":184,"box":{"x":62,"y":395,"width":70,"height":11}},{"id":"07a64f3e-3129-4c38-8f78-115effa5aa51","block_type":"box","text":"The Sub-Fund is actively managed allowing the Investment Manager the freedom to invest in UK companies of any","page_number":184,"box":{"x":62,"y":415,"width":861,"height":11}},{"id":"c1ef115f-c821-4b35-ad9a-a8ca44dcd63e","block_type":"box","text":"size, and at any stage of the business cycle. The Investment Manager will typically invest in mature companies which","page_number":184,"box":{"x":62,"y":428,"width":860,"height":12}},{"id":"64808d9d-c85d-455f-8049-29b5ceb3bc25","block_type":"box","text":"benefit from high barriers to entry, offering the potential of good to high returns and generating stable cash flows","page_number":184,"box":{"x":62,"y":442,"width":861,"height":11}},{"id":"901062c7-5862-4ac9-b6c9-6e5d2e57baa8","block_type":"box","text":"which will either be returned to investors as income or re-invested into the company to generate future dividends. The","page_number":184,"box":{"x":62,"y":456,"width":861,"height":11}},{"id":"18cd33b6-cf0e-40e5-8832-01ceab6a2f21","block_type":"box","text":"Investment Manager is also likely to invest in companies with a focus on the potential future cash flow growth they","page_number":184,"box":{"x":63,"y":469,"width":860,"height":12}},{"id":"2b2487b9-e45e-479c-a2d7-5584afd4483e","block_type":"box","text":"will generate, and their perceived ability to steadily grow their dividends, while showing financial strength and/or low","page_number":184,"box":{"x":62,"y":483,"width":861,"height":11}},{"id":"c23c0a4a-beed-4ec3-8a37-ba5fab5f75e4","block_type":"box","text":"levels of debt, with a strong management capability. In addition, the Investment Manager is likely to identify companies","page_number":184,"box":{"x":62,"y":497,"width":860,"height":11}},{"id":"43299eff-19a9-401d-a110-090a3cbc991d","block_type":"box","text":"which are out of favour at a particular point in time, but where there is a specific opportunity for the company to","page_number":184,"box":{"x":62,"y":510,"width":861,"height":11}},{"id":"70203faf-0639-47b1-8d95-258234366d86","block_type":"box","text":"increase their future cash flows, and therefore potentially increase their dividends.","page_number":184,"box":{"x":62,"y":524,"width":605,"height":11}},{"id":"74796065-0d44-4ea7-9a7b-41856a69c55b","block_type":"box","text":"The Sub-Fund is subject to Aviva Investors’ baseline exclusion policy –","page_number":184,"box":{"x":62,"y":543,"width":527,"height":12}},{"id":"9d8f9772-586d-4efa-b6c8-c2a9b4da6a70","block_type":"box","text":"please see Appendix 2 for information on","page_number":184,"box":{"x":594,"y":544,"width":328,"height":11}},{"id":"2f07a8de-7df0-492a-8b3f-d350b069d1d4","block_type":"box","text":"these limited investment restrictions.","page_number":184,"box":{"x":62,"y":557,"width":295,"height":9}},{"id":"a23d36f6-9bca-4704-be36-99ba8b87e9d4","block_type":"box","text":"Performance & Risk Measurement:","page_number":184,"box":{"x":63,"y":577,"width":275,"height":9}},{"id":"70b55698-68b1-4511-93bf-51e4ec88d279","block_type":"box","text":"The Sub-Fund’s income return target is measured against the against the Index, before the deduction of charges and","page_number":184,"box":{"x":62,"y":596,"width":860,"height":12}},{"id":"83256e8c-7253-44a7-b6b0-06f2cd0839b9","block_type":"box","text":"taxes. The Sub-Fund’s overall performance is also measured against the Index, after charges and taxes.","page_number":184,"box":{"x":62,"y":610,"width":774,"height":11}},{"id":"525d5606-c957-4838-b6e0-33e9edc164e2","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":184,"box":{"x":62,"y":630,"width":860,"height":11}},{"id":"b86363c0-50fe-420f-838c-436af23b039b","block_type":"box","text":"may also hold companies that do not form part of it. The Sub-Fund will not invest in shares of companies within the","page_number":184,"box":{"x":62,"y":643,"width":861,"height":11}},{"id":"b371e236-f982-4907-8dba-abcc9fe535d3","block_type":"box","text":"Aviva Group. Any overweight position is capped at 4% of the Sub-Fund’s value over and above the Index weight of","page_number":184,"box":{"x":62,"y":657,"width":861,"height":11}},{"id":"e92c26c1-bc8a-4cc3-8f0a-899e2e22d8d3","block_type":"box","text":"that company.","page_number":184,"box":{"x":62,"y":671,"width":103,"height":11}},{"id":"232c6754-387d-45e3-b420-1d5f140af5f6","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":184,"box":{"x":62,"y":690,"width":861,"height":11}},{"id":"4dd13cfe-f254-475f-b535-18e5f9dba63a","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":184,"box":{"x":63,"y":704,"width":859,"height":11}},{"id":"70f09df6-fe8a-402e-9355-12b88390efc3","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2% and 6% when","page_number":184,"box":{"x":62,"y":717,"width":860,"height":12}},{"id":"9b8681d3-368f-4251-8edb-7c5bb67fdaaf","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":184,"box":{"x":62,"y":731,"width":650,"height":11}},{"id":"6d31e998-7b9c-4fa1-8831-792a73a6a7fd","block_type":"box","text":"The Index represents the performance of all eligible companies listed on the London Stock Exchange, and 98% of","page_number":184,"box":{"x":62,"y":751,"width":861,"height":11}},{"id":"1af07d50-de8d-4460-b6af-b1fce196383a","block_type":"box","text":"the UK's market capitalisation (total market value of a company's outstanding shares), excluding investment trusts","page_number":184,"box":{"x":62,"y":764,"width":861,"height":12}},{"id":"334408be-4078-44bc-a939-06726bbce71d","block_type":"box","text":"and Aviva PLC shares.","page_number":184,"box":{"x":62,"y":778,"width":169,"height":9}},{"id":"4557d656-2c16-4f78-858b-48c35d3c218f","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":184,"box":{"x":62,"y":798,"width":861,"height":11}},{"id":"6385830f-a4a1-45a7-ae4a-cb01624fe73f","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest and includes the Sub-Fund’s prohibition on investment","page_number":184,"box":{"x":62,"y":811,"width":861,"height":11}},{"id":"7b37e18e-d2ed-440d-8554-e35162e1ee7e","block_type":"box","text":"in shares of companies within the Aviva Group, and it is therefore an appropriate measure for the Sub-Fund’s","page_number":184,"box":{"x":62,"y":825,"width":861,"height":11}},{"id":"7e521a63-0e3a-4351-8a4a-84f1c6d0232c","block_type":"box","text":"performance.","page_number":184,"box":{"x":62,"y":839,"width":97,"height":11}},{"id":"1610055d-e13d-4b9a-85f5-95fe2a941b84","block_type":"box","text":"Additional Information","page_number":184,"box":{"x":62,"y":858,"width":177,"height":9}},{"id":"cb4371ae-c2a3-41e5-a916-6200845cd4f6","block_type":"box","text":"Investment Manager","page_number":184,"box":{"x":118,"y":885,"width":151,"height":11}},{"id":"7577e1b2-b6b5-419b-a574-fb199ae9f82b","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":184,"box":{"x":352,"y":884,"width":294,"height":9}},{"id":"8c5b4b00-942a-4f66-a5e6-5d036b7166f7","block_type":"box","text":"Type of Units","page_number":184,"box":{"x":116,"y":911,"width":98,"height":11}},{"id":"27af4bbd-620a-4c5e-96f2-5864da3f21eb","block_type":"box","text":"UK Corporate Accumulation Units","page_number":184,"box":{"x":353,"y":910,"width":250,"height":12}},{"id":"cb55e668-4c5d-4a9f-b6ee-1da33242b500","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":185,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"ca385813-4e50-4598-8afd-11506ec225df","block_type":"box","text":"185","page_number":185,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"d7899235-40be-44e0-af55-b8e3c994ada8","block_type":"box","text":"Aviva Investors: Confidential","page_number":185,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"f5e38b95-65d9-490a-8a85-b83c940846f0","block_type":"box","text":"Insured Pension Accumulation Units","page_number":185,"box":{"x":354,"y":59,"width":267,"height":9}},{"id":"29f37d02-a577-4355-92d2-8796fc39d32a","block_type":"box","text":"UK Institutional Accumulation Units","page_number":185,"box":{"x":353,"y":85,"width":260,"height":9}},{"id":"60fbdbbe-6cd3-463f-8e58-84d505aec88c","block_type":"box","text":"Dealing Day","page_number":185,"box":{"x":118,"y":111,"width":89,"height":12}},{"id":"2d103dcd-1c7c-4a69-8f26-3503f16452e9","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":185,"box":{"x":354,"y":111,"width":393,"height":11}},{"id":"188238fb-29f2-414c-a0d8-91d7e6704f1f","block_type":"box","text":"Deal Cut-Off Point","page_number":185,"box":{"x":118,"y":137,"width":134,"height":9}},{"id":"99f0c6ca-b372-4ea1-9c84-f70a82530db5","block_type":"box","text":"1.00 p.m.","page_number":185,"box":{"x":354,"y":138,"width":66,"height":11}},{"id":"29a2768c-78b7-47cb-91cf-e1b65ef2a1de","block_type":"box","text":"Valuation Point","page_number":185,"box":{"x":117,"y":164,"width":112,"height":8}},{"id":"f9314c5a-c983-423b-8ab8-7e482e4ddfd8","block_type":"box","text":"2.00 p.m.","page_number":185,"box":{"x":353,"y":164,"width":67,"height":11}},{"id":"1aa799c6-a756-47bc-8006-2378934394c8","block_type":"box","text":"*Minimum Investment","page_number":185,"box":{"x":117,"y":190,"width":172,"height":8}},{"id":"4abb6162-5250-4d0d-ba65-e92897959d08","block_type":"box","text":"UK Corporate Accumulation","page_number":185,"box":{"x":118,"y":216,"width":215,"height":11}},{"id":"c52f4a0e-27b5-4791-8fe3-a22929305b5e","block_type":"box","text":"Units, Insured Pension","page_number":185,"box":{"x":118,"y":230,"width":215,"height":10}},{"id":"1c6fb533-4aea-40fb-b0ac-905bf9c0a6fb","block_type":"box","text":"Accumulation Units","page_number":185,"box":{"x":116,"y":243,"width":164,"height":9}},{"id":"18a35f92-e764-4a01-be0c-82daa0c0c903","block_type":"box","text":",","page_number":185,"box":{"x":282,"y":251,"width":2,"height":2}},{"id":"3f65501c-e6d5-4d96-950a-7d95528b0529","block_type":"box","text":"UK","page_number":185,"box":{"x":312,"y":243,"width":22,"height":9}},{"id":"a68b03a7-e91b-42ac-9c3d-781ad2ff8936","block_type":"box","text":"Institutional Accumulation","page_number":185,"box":{"x":118,"y":257,"width":215,"height":9}},{"id":"b8d364bf-3a8d-45af-b352-6497c8b868a0","block_type":"box","text":"Units","page_number":185,"box":{"x":118,"y":271,"width":36,"height":8}},{"id":"f9df991b-bd39-44cc-9d24-1bdd2823680e","block_type":"box","text":"No minimum","page_number":185,"box":{"x":353,"y":216,"width":92,"height":9}},{"id":"af5df65d-db1b-41d2-b8b0-097c2f922df1","block_type":"box","text":"Minimum withdrawal","page_number":185,"box":{"x":117,"y":297,"width":150,"height":8}},{"id":"d4d4c3e7-0ec5-4b8a-b727-a536a976c5a2","block_type":"box","text":"No minimum","page_number":185,"box":{"x":353,"y":297,"width":92,"height":8}},{"id":"a5a8f65a-d8fe-4add-9b9c-d95fa45d9bf3","block_type":"box","text":"Tax Criteria for investment","page_number":185,"box":{"x":116,"y":323,"width":213,"height":9}},{"id":"bd4054d8-0701-4231-ba0f-f7a83c8e9eeb","block_type":"box","text":"UK Corporate Accumulation","page_number":185,"box":{"x":118,"y":349,"width":215,"height":11}},{"id":"6f69080b-4f96-4f5d-8d91-5873385acfb4","block_type":"box","text":"Units","page_number":185,"box":{"x":118,"y":363,"width":36,"height":8}},{"id":"775c9536-ce2d-4066-9c98-38a8768d24f7","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":185,"box":{"x":352,"y":349,"width":404,"height":11}},{"id":"137568e5-dbd3-460b-a887-aa58e1a67cc1","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":185,"box":{"x":353,"y":362,"width":404,"height":11}},{"id":"f23c3bb8-8e04-44bc-9800-e4740e4e2bc4","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":185,"box":{"x":352,"y":376,"width":405,"height":11}},{"id":"659fd3e2-2ec7-4c42-808e-f84331a67519","block_type":"box","text":"linked pension business contracts.","page_number":185,"box":{"x":353,"y":390,"width":253,"height":11}},{"id":"702dffac-3345-444a-a2c8-cc0fde570f05","block_type":"box","text":"Insured Pension","page_number":185,"box":{"x":118,"y":416,"width":215,"height":9}},{"id":"fda10d70-6bdc-47c5-a71e-4469d33aefc7","block_type":"box","text":"Accumulation Units","page_number":185,"box":{"x":116,"y":430,"width":143,"height":8}},{"id":"d8878811-a626-4b84-b7d0-4bb0584c159d","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":185,"box":{"x":352,"y":416,"width":404,"height":11}},{"id":"abd37ade-edcf-46c8-ad2f-4e3b23821d4a","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":185,"box":{"x":353,"y":429,"width":404,"height":12}},{"id":"ed9b2a2b-cef9-49e7-80f8-8abb15863564","block_type":"box","text":"back exclusively its unit linked pension business","page_number":185,"box":{"x":353,"y":443,"width":404,"height":11}},{"id":"e7411a78-2468-4215-827d-ed8665fe531c","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":185,"box":{"x":353,"y":457,"width":404,"height":11}},{"id":"ec029b57-ab4e-4a48-be18-3ecfb343f95b","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":185,"box":{"x":353,"y":471,"width":307,"height":11}},{"id":"914c9c43-858b-4b5b-a2c6-0effb9195e49","block_type":"box","text":"UK Institutional","page_number":185,"box":{"x":118,"y":497,"width":110,"height":8}},{"id":"b369c61c-5d0a-4767-89c0-3469183a3051","block_type":"box","text":"Accumulation Units","page_number":185,"box":{"x":116,"y":510,"width":143,"height":9}},{"id":"3ed2871e-b9aa-4339-8f0e-8cb920a6d1f8","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":185,"box":{"x":352,"y":497,"width":404,"height":11}},{"id":"7e3b88bb-c816-4bc5-872a-ac7717465dbb","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":185,"box":{"x":353,"y":510,"width":403,"height":12}},{"id":"85297b3e-21cf-4307-975d-9a05e833b62a","block_type":"box","text":"tax treaties.","page_number":185,"box":{"x":352,"y":524,"width":85,"height":9}},{"id":"f32a8849-f519-4e58-8e0e-8537250a1e75","block_type":"box","text":"**Current Charges:","page_number":185,"box":{"x":117,"y":556,"width":149,"height":11}},{"id":"34eebfdb-0ea3-41b6-943d-560c7dab901c","block_type":"box","text":"UK Corporate Accumulation","page_number":185,"box":{"x":118,"y":582,"width":205,"height":11}},{"id":"09622fb7-d1f0-40fb-8624-f6ea1160bcb3","block_type":"box","text":"Units, Insured Pension","page_number":185,"box":{"x":118,"y":596,"width":166,"height":10}},{"id":"73be6a03-6d91-4a65-897c-c9bec80f424e","block_type":"box","text":"Accumulation Units, UK","page_number":185,"box":{"x":116,"y":610,"width":176,"height":10}},{"id":"50ee685a-5b42-4502-9a00-07f93f6747f9","block_type":"box","text":"Institutional Accumulation","page_number":185,"box":{"x":118,"y":623,"width":187,"height":9}},{"id":"cb492a83-390b-4168-9551-3eb80f5eec6c","block_type":"box","text":"Units","page_number":185,"box":{"x":118,"y":637,"width":36,"height":9}},{"id":"b175210b-7e99-4379-86fe-d0f618c10fdc","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":185,"box":{"x":352,"y":582,"width":404,"height":11}},{"id":"c22c5079-7726-48c5-93f7-c93263c7a787","block_type":"box","text":"Unitholder","page_number":185,"box":{"x":353,"y":596,"width":75,"height":9}},{"id":"6f9480d2-2a3e-4674-8b74-c604d20081c6","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":185,"box":{"x":352,"y":615,"width":404,"height":12}},{"id":"db96a9a2-cb04-457a-9b7f-e45aac546ee9","block_type":"box","text":"property","page_number":185,"box":{"x":353,"y":630,"width":60,"height":10}},{"id":"b3ab9d1a-200a-46f2-b3d1-c24bc7f1cba6","block_type":"box","text":"Accounting Dates","page_number":185,"box":{"x":117,"y":675,"width":141,"height":11}},{"id":"8d0a36a8-d12d-415b-a120-83184b8fea91","block_type":"box","text":"Annual Accounting Date","page_number":185,"box":{"x":116,"y":701,"width":180,"height":11}},{"id":"31be59e7-c830-4ccb-94c3-0ddee105c712","block_type":"box","text":"31 December","page_number":185,"box":{"x":353,"y":701,"width":100,"height":9}},{"id":"8b2ba971-f727-461f-86b1-93e433b3eca5","block_type":"box","text":"First Accounting Date","page_number":185,"box":{"x":118,"y":727,"width":158,"height":11}},{"id":"f65181f5-f982-469e-bded-82b711f083b5","block_type":"box","text":"31 December 2017","page_number":185,"box":{"x":353,"y":727,"width":141,"height":9}},{"id":"9ada2472-101d-4bfe-aa97-247e34702a18","block_type":"box","text":"Annual Income Allocation","page_number":185,"box":{"x":116,"y":753,"width":188,"height":9}},{"id":"6e8ec91e-dd26-450e-b81b-bf3f9dae951f","block_type":"box","text":"Date","page_number":185,"box":{"x":118,"y":767,"width":33,"height":9}},{"id":"abcfd33f-f7f8-4dde-8fd6-eefcd572e872","block_type":"box","text":"On or before 28 /29 February","page_number":185,"box":{"x":353,"y":753,"width":217,"height":11}},{"id":"0f5927e2-e44a-4ba7-95b7-66da3b0356e0","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":185,"box":{"x":118,"y":793,"width":293,"height":11}},{"id":"8c0a7ece-92c1-4e9c-961b-b37c7f7b19d1","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":185,"box":{"x":62,"y":839,"width":861,"height":11}},{"id":"85aea5a7-7f96-4a5b-8393-34bf5ca52e7e","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":185,"box":{"x":62,"y":852,"width":408,"height":12}},{"id":"1adf4aaf-431b-41c9-85e1-7c2d9abd5d1a","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":185,"box":{"x":62,"y":872,"width":642,"height":11}},{"id":"b93e3941-db2a-4c23-9e13-b9674b6935e0","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":185,"box":{"x":62,"y":891,"width":860,"height":12}},{"id":"8be5892e-e98f-4a9d-8ebc-a3142399f942","block_type":"box","text":"this Prospectus.","page_number":185,"box":{"x":62,"y":905,"width":117,"height":11}},{"id":"e6fb2051-59db-498b-be57-12d3083042e1","block_type":"box","text":"□","page_number":185,"box":{"x":62,"y":926,"width":5,"height":4}},{"id":"b6ca5b97-117d-41ef-aa5d-a81a0def792b","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":185,"box":{"x":74,"y":925,"width":342,"height":9}},{"id":"c23e0218-54b0-4138-a187-57925a5fa7be","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":186,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"cf1c6cd9-495d-4f31-b073-ad9ac7f4303a","block_type":"box","text":"186","page_number":186,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"c7591aef-1ec6-4f26-827f-550142e3aa5c","block_type":"box","text":"Aviva Investors: Confidential","page_number":186,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"791fc39b-c7b4-47bd-85f1-9e32dc452fb5","block_type":"box","text":"Securities Financing and other Transactions:","page_number":186,"box":{"x":62,"y":72,"width":358,"height":11}},{"id":"d6289d82-1764-462d-853c-2499b0c94b76","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":186,"box":{"x":62,"y":92,"width":860,"height":11}},{"id":"4b19d10c-edbb-4a28-89ee-a05db73197a6","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":186,"box":{"x":62,"y":105,"width":438,"height":11}},{"id":"b2281e68-fbe1-4593-9309-35d41811fa92","block_type":"box","text":"The maximum proportion of the assets of the Sub-Fund which may be subject to securities lending or repo","page_number":186,"box":{"x":62,"y":164,"width":787,"height":11}},{"id":"f7fe0d9f-9f53-4dc1-99ef-1d8e67e5f8aa","block_type":"box","text":"transactions is as follows:","page_number":186,"box":{"x":62,"y":180,"width":188,"height":9}},{"id":"a82ffba7-b9c3-4472-bdef-2f12d6ef6a79","block_type":"box","text":"Securities Lending","page_number":186,"box":{"x":72,"y":216,"width":125,"height":11}},{"id":"998913a5-b2b7-4298-aa90-d328a148ebdc","block_type":"box","text":"50%","page_number":186,"box":{"x":460,"y":216,"width":28,"height":9}},{"id":"5aecca3f-d603-4dc5-a84e-b60eaf3b90a3","block_type":"box","text":"Repo Transactions","page_number":186,"box":{"x":71,"y":238,"width":125,"height":11}},{"id":"97b90c85-fb29-44da-bc54-eb09e477b638","block_type":"box","text":"50%","page_number":186,"box":{"x":460,"y":238,"width":28,"height":9}},{"id":"c9fec4b0-1b52-4eea-8def-1e94f6947cf2","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":186,"box":{"x":62,"y":280,"width":823,"height":11}},{"id":"a762a4a5-1d82-4135-8232-4170c1f2a3fd","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to securities lending or repo","page_number":186,"box":{"x":62,"y":295,"width":823,"height":12}},{"id":"3f3df3a2-1161-4f3f-94fc-5906d0bf3140","block_type":"box","text":"transactions is as follows:","page_number":186,"box":{"x":62,"y":311,"width":188,"height":9}},{"id":"84cb6541-9d23-41a0-8e64-0d539f388859","block_type":"box","text":"Securities Lending","page_number":186,"box":{"x":72,"y":347,"width":125,"height":11}},{"id":"d1568a43-d0ae-4f0d-92fb-396acf883370","block_type":"box","text":"15","page_number":186,"box":{"x":461,"y":348,"width":14,"height":8}},{"id":"8f204178-8eec-4492-b626-2963feb454b9","block_type":"box","text":"%","page_number":186,"box":{"x":477,"y":348,"width":11,"height":8}},{"id":"ce663ddc-415d-4a40-aa2a-150d0855d632","block_type":"box","text":"Repo Transactions","page_number":186,"box":{"x":71,"y":369,"width":125,"height":11}},{"id":"b5f2820e-8e77-4a15-b4cf-61d2df2fbd08","block_type":"box","text":"7.5%","page_number":186,"box":{"x":459,"y":369,"width":33,"height":9}},{"id":"a16068e2-a2fa-4650-aa76-13b19e5648b2","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":186,"box":{"x":62,"y":409,"width":860,"height":11}},{"id":"4a6f29e0-19c9-4768-bf7a-c1fb7c2c8ac4","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":186,"box":{"x":62,"y":422,"width":860,"height":11}},{"id":"8265b4c6-644c-4a1e-b832-fb26d25a4504","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":186,"box":{"x":62,"y":436,"width":861,"height":11}},{"id":"5ebdf002-deb9-4b14-8eee-8cfbb3ece42a","block_type":"box","text":"is zero.","page_number":186,"box":{"x":62,"y":450,"width":52,"height":8}},{"id":"2f1478c3-7d1f-4a66-abc5-b9a1ca8efe2f","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":186,"box":{"x":62,"y":508,"width":249,"height":9}},{"id":"838a6c1c-1c39-4241-94f4-8098f85e9ddd","block_type":"box","text":"Leverage","page_number":186,"box":{"x":63,"y":548,"width":72,"height":11}},{"id":"43a4072a-253b-415e-9680-ea2447fac414","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":186,"box":{"x":63,"y":567,"width":860,"height":11}},{"id":"c0eb4e0d-8556-4ecc-9963-80b7c26475ae","block_type":"box","text":"management.","page_number":186,"box":{"x":62,"y":581,"width":101,"height":11}},{"id":"f97a918c-32ea-40d8-ba45-7a7d7939c7b0","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":186,"box":{"x":62,"y":614,"width":860,"height":11}},{"id":"d0c42f93-05b8-424a-b696-e64c86100cd5","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":186,"box":{"x":62,"y":628,"width":649,"height":11}},{"id":"e9bda37b-3739-412d-bcdc-58684d62d6a6","block_type":"box","text":"All transactions in derivatives are fully covered, and are not used as a means of gearing the Sub-Fund.","page_number":186,"box":{"x":62,"y":655,"width":760,"height":11}},{"id":"001c64ac-a2f9-4d6f-a79a-20b45cb95907","block_type":"box","text":"Permitted derivatives","page_number":186,"box":{"x":72,"y":685,"width":168,"height":9}},{"id":"156ea8d8-0160-4a7e-a56a-2150fd38721d","block_type":"box","text":"Permitted?","page_number":186,"box":{"x":383,"y":685,"width":85,"height":9}},{"id":"7d25752a-470b-4767-8c7f-261adee8accb","block_type":"box","text":"Prohibited?","page_number":186,"box":{"x":489,"y":685,"width":91,"height":9}},{"id":"b1014d19-d326-4868-a6d3-2ca650a0ddcb","block_type":"box","text":"Equity index futures","page_number":186,"box":{"x":72,"y":705,"width":146,"height":12}},{"id":"92b257c7-021e-435f-97b9-2008ce9ad786","block_type":"box","text":"√","page_number":186,"box":{"x":421,"y":706,"width":8,"height":8}},{"id":"f4ebd528-9113-483b-8cac-aef76e65b306","block_type":"box","text":"Government bond futures","page_number":186,"box":{"x":72,"y":724,"width":188,"height":9}},{"id":"410b86f0-3027-45ed-a48f-44270e53d0e8","block_type":"box","text":"√","page_number":186,"box":{"x":530,"y":724,"width":8,"height":8}},{"id":"191cdc11-ced4-4d2d-85fe-4c9e25caaa58","block_type":"box","text":"Equity index options","page_number":186,"box":{"x":72,"y":743,"width":148,"height":11}},{"id":"40825863-07b4-41e2-97bd-c97bd9aaaacd","block_type":"box","text":"√","page_number":186,"box":{"x":530,"y":743,"width":8,"height":7}},{"id":"9908c5c2-2001-45c3-ac28-c8f9edf08b82","block_type":"box","text":"Forward foreign exchange","page_number":186,"box":{"x":72,"y":761,"width":193,"height":11}},{"id":"8c3d93e5-3332-490d-bc6f-d3a315977b86","block_type":"box","text":"√","page_number":186,"box":{"x":421,"y":761,"width":8,"height":8}},{"id":"77b832a1-36c5-4bb4-97df-9f663b0dc0d3","block_type":"box","text":"Index credit default swaps","page_number":186,"box":{"x":72,"y":779,"width":192,"height":11}},{"id":"b66d5cc3-0449-4f02-ab18-6e2d8b22d7f0","block_type":"box","text":"√","page_number":186,"box":{"x":530,"y":780,"width":8,"height":7}},{"id":"6612a358-73bd-4035-9733-ef147def60d6","block_type":"box","text":"Interest rate swaps","page_number":186,"box":{"x":72,"y":798,"width":140,"height":11}},{"id":"ebb55428-2943-4986-b28e-c4350c34c47b","block_type":"box","text":"√","page_number":186,"box":{"x":530,"y":798,"width":8,"height":8}},{"id":"5eef4efc-48e9-42a0-b331-0c6fb257b73f","block_type":"box","text":"OTC equity options","page_number":186,"box":{"x":72,"y":816,"width":142,"height":11}},{"id":"14943414-9ec7-459a-83b8-feab77ba9ec6","block_type":"box","text":"√","page_number":186,"box":{"x":530,"y":816,"width":8,"height":8}},{"id":"cd3bf70c-4181-4369-a85c-6e5154ff8d2b","block_type":"box","text":"Inflation swaps","page_number":186,"box":{"x":72,"y":834,"width":109,"height":11}},{"id":"8ff8203a-a486-4c11-891c-d13f6e2fbea1","block_type":"box","text":"√","page_number":186,"box":{"x":530,"y":835,"width":8,"height":7}},{"id":"e883380f-d020-49a1-8259-b7ff548da7fb","block_type":"box","text":"Cross currency swaps","page_number":186,"box":{"x":72,"y":853,"width":163,"height":11}},{"id":"327df8f3-ddbf-430a-83de-d69ec5891041","block_type":"box","text":"√","page_number":186,"box":{"x":530,"y":853,"width":8,"height":8}},{"id":"ebc24830-d22f-4950-84b1-0b9dd9546555","block_type":"box","text":"Other","page_number":186,"box":{"x":72,"y":871,"width":41,"height":9}},{"id":"11070da9-ad6e-403d-a865-9ac537f39f85","block_type":"box","text":"√","page_number":186,"box":{"x":530,"y":872,"width":8,"height":7}},{"id":"0efc56f4-ff9d-48c7-8048-8f903151b392","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":186,"box":{"x":63,"y":899,"width":860,"height":11}},{"id":"51fa512c-34bf-4693-8ad1-269a2735033c","block_type":"box","text":"2)","page_number":186,"box":{"x":62,"y":913,"width":13,"height":11}},{"id":"4d5a9a94-bc78-470e-9f26-c70b5f57a267","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":187,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"d7aa1d20-8455-4880-9b9c-caa51cbb6d9f","block_type":"box","text":"187","page_number":187,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"20552886-c151-4500-a0dc-cfb0d239e5a7","block_type":"box","text":"Aviva Investors: Confidential","page_number":187,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"0ff5d8e5-a9ed-4766-bbf4-fba86ad50ca7","block_type":"box","text":"Leverage Limits","page_number":187,"box":{"x":63,"y":52,"width":128,"height":12}},{"id":"4175057e-638c-4e05-9a00-f473df9dce0e","block_type":"box","text":"(Exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":187,"box":{"x":200,"y":52,"width":722,"height":12}},{"id":"99b617cc-a6ee-4d0d-b749-16de3ec278cd","block_type":"box","text":"Regime):","page_number":187,"box":{"x":63,"y":66,"width":65,"height":11}},{"id":"24d4c0bf-0f68-4580-9f19-2601a456037e","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":187,"box":{"x":62,"y":93,"width":471,"height":12}},{"id":"4386bb3c-9e48-4a2a-9f3d-fe28f5fc8396","block_type":"box","text":"","page_number":187,"box":{"x":62,"y":125,"width":6,"height":4}},{"id":"8da8016b-c96c-44e8-963e-2a569fc5c374","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":187,"box":{"x":92,"y":122,"width":193,"height":11}},{"id":"2a0cfdc5-f8bd-48d2-9c64-ac767cff0f67","block_type":"box","text":"","page_number":187,"box":{"x":62,"y":141,"width":6,"height":5}},{"id":"42a7b88b-7548-4b2a-8f1f-0e78b3f167fc","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":187,"box":{"x":92,"y":138,"width":183,"height":11}},{"id":"5f55c72e-b1fe-4496-8fb0-f89a4a68dad1","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":187,"box":{"x":62,"y":166,"width":860,"height":11}},{"id":"616800a2-ffac-4451-9b0e-a59bc24f71c0","block_type":"box","text":"which case leverage will not exceed the following:","page_number":187,"box":{"x":62,"y":179,"width":368,"height":12}},{"id":"877962fb-c6ad-4826-b3ed-18d59e8e2abd","block_type":"box","text":"","page_number":187,"box":{"x":62,"y":211,"width":6,"height":4}},{"id":"7e65b00b-74e1-4349-b138-2f2004336b50","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":187,"box":{"x":92,"y":207,"width":193,"height":12}},{"id":"339b7a08-bf8f-4633-912f-45359bc910b7","block_type":"box","text":"","page_number":187,"box":{"x":62,"y":227,"width":6,"height":4}},{"id":"fd595532-313f-448e-a29f-a7e9b24f4edb","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":187,"box":{"x":92,"y":224,"width":183,"height":11}},{"id":"c2f8926a-04e7-4a5c-adf8-1222ccc872f8","block_type":"box","text":"Specific Risks","page_number":187,"box":{"x":62,"y":251,"width":113,"height":12}},{"id":"f0cf4a07-c8bf-402f-ab31-298c1f2bdfbf","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":187,"box":{"x":181,"y":252,"width":462,"height":11}},{"id":"7e9f3f97-2ffa-435d-a49e-99a251c5b343","block_type":"box","text":"","page_number":187,"box":{"x":62,"y":275,"width":6,"height":4}},{"id":"9f2198d6-36cb-42df-a0cf-459853351903","block_type":"box","text":"Smaller Companies","page_number":187,"box":{"x":92,"y":272,"width":145,"height":11}},{"id":"15e56401-0b88-4f33-9717-34cd5d1ed6ec","block_type":"box","text":"","page_number":187,"box":{"x":62,"y":290,"width":6,"height":4}},{"id":"54b63be9-f177-476a-9b34-289484404d9e","block_type":"box","text":"Concentration","page_number":187,"box":{"x":92,"y":286,"width":103,"height":9}},{"id":"7d52b77f-2a8a-4892-a935-f9854cdf73de","block_type":"box","text":"","page_number":187,"box":{"x":62,"y":304,"width":6,"height":4}},{"id":"f6dd360c-9f4d-49b5-9937-70db8d2afddd","block_type":"box","text":"Single Market","page_number":187,"box":{"x":92,"y":301,"width":102,"height":11}},{"id":"1f9f4eb3-bc6e-41d6-b148-f500aa8da192","block_type":"box","text":"","page_number":187,"box":{"x":62,"y":318,"width":6,"height":5}},{"id":"d7824f21-b704-405e-b6c0-ce2d4429140c","block_type":"box","text":"Equity Securities","page_number":187,"box":{"x":93,"y":315,"width":123,"height":12}},{"id":"d22c9215-c085-44bf-820a-632c3743f86f","block_type":"box","text":"Past Performance – AI UK Equity Dividend Fund","page_number":187,"box":{"x":72,"y":349,"width":382,"height":11}},{"id":"5b2d44ac-7931-4237-820d-df8b074b10f5","block_type":"box","text":"% Growth","page_number":187,"box":{"x":71,"y":369,"width":77,"height":9}},{"id":"da97c303-fe81-41a8-aa6d-18430001c2cd","block_type":"box","text":"1/1/2024 to","page_number":187,"box":{"x":290,"y":395,"width":94,"height":8}},{"id":"8f3e5f6f-67b9-4057-8ea3-791756549828","block_type":"box","text":"31/12/2024","page_number":187,"box":{"x":289,"y":407,"width":75,"height":8}},{"id":"86b26682-1979-4bf7-9879-fc166f218e53","block_type":"box","text":"1/1/2023 to","page_number":187,"box":{"x":404,"y":395,"width":94,"height":8}},{"id":"9e284184-df9b-44ce-8db4-2974ad80ec69","block_type":"box","text":"31/12/2023","page_number":187,"box":{"x":403,"y":407,"width":75,"height":8}},{"id":"17960a4f-50c1-4712-8db0-06bb3437dfa9","block_type":"box","text":"1/1/2022 to","page_number":187,"box":{"x":517,"y":395,"width":94,"height":8}},{"id":"a1a0af0c-c5aa-4024-99ed-100bba40999d","block_type":"box","text":"31/12/2022","page_number":187,"box":{"x":516,"y":407,"width":75,"height":8}},{"id":"ae526dc7-91b0-4d92-8496-aaae3e106295","block_type":"box","text":"1/1/2021 to","page_number":187,"box":{"x":631,"y":395,"width":94,"height":8}},{"id":"42a46551-d5ae-4478-91a9-a316745f2fe4","block_type":"box","text":"31/12/2021","page_number":187,"box":{"x":630,"y":407,"width":73,"height":8}},{"id":"dbc6dd2c-587c-4d7a-aeae-80c1b2c7d79e","block_type":"box","text":"1/1/2020 to","page_number":187,"box":{"x":744,"y":395,"width":94,"height":8}},{"id":"d24daf9a-3b30-458f-85fe-b8043e1daa5b","block_type":"box","text":"31/12/2020","page_number":187,"box":{"x":743,"y":407,"width":75,"height":8}},{"id":"7b8d5f08-eeb1-49ff-914c-11363cf8b676","block_type":"box","text":"UK Corporate Income","page_number":187,"box":{"x":72,"y":432,"width":198,"height":10}},{"id":"a27c61a9-318d-4e74-93f3-f7eca7d3ee04","block_type":"box","text":"Distribution Units (%)","page_number":187,"box":{"x":72,"y":444,"width":140,"height":10}},{"id":"d8145756-6d85-4c85-811d-303ac8b25adb","block_type":"box","text":"Insured Pension Income","page_number":187,"box":{"x":72,"y":469,"width":198,"height":8}},{"id":"1a0b72ae-94e1-47c7-999c-94a98317a57e","block_type":"box","text":"Distribution Units (%)","page_number":187,"box":{"x":72,"y":481,"width":140,"height":10}},{"id":"02f5c8e8-e8d5-434a-a7bb-f055cf4f74b6","block_type":"box","text":"UK Institutional Accumulation","page_number":187,"box":{"x":72,"y":506,"width":198,"height":8}},{"id":"b2106176-1a7f-4d09-bebc-f019dcc5fdc9","block_type":"box","text":"Units (%)","page_number":187,"box":{"x":72,"y":518,"width":60,"height":10}},{"id":"09e9840b-b4ff-497d-a625-48838e854966","block_type":"box","text":"6.85","page_number":187,"box":{"x":290,"y":506,"width":28,"height":8}},{"id":"c5a006be-0105-4a92-84b8-d6538f9b6533","block_type":"box","text":"8.39","page_number":187,"box":{"x":403,"y":506,"width":28,"height":8}},{"id":"a0a60c04-60a5-4fda-819f-7a3446b761ed","block_type":"box","text":"-2.22","page_number":187,"box":{"x":517,"y":506,"width":33,"height":8}},{"id":"0bed596d-2c9f-4298-ba7e-f80096497122","block_type":"box","text":"14.6","page_number":187,"box":{"x":631,"y":506,"width":28,"height":8}},{"id":"fa813924-3071-48ea-b7e0-b1f26bbc50c5","block_type":"box","text":"-10.5","page_number":187,"box":{"x":743,"y":506,"width":34,"height":8}},{"id":"8d6aebbd-5104-4482-9182-c1333b1ec6fa","block_type":"box","text":"ACS (Fund of Fund)","page_number":187,"box":{"x":71,"y":549,"width":199,"height":10}},{"id":"be2ff001-c7a4-427c-8830-c703e8b24290","block_type":"box","text":"Accumulation Units Class 1","page_number":187,"box":{"x":71,"y":561,"width":197,"height":8}},{"id":"de2689b5-3ea6-4994-a64b-fac2253b6d75","block_type":"box","text":"(%)","page_number":187,"box":{"x":72,"y":573,"width":21,"height":10}},{"id":"e905cb2b-b015-43f9-be57-305435318c6d","block_type":"box","text":"ACS (Fund of Fund)","page_number":187,"box":{"x":71,"y":598,"width":199,"height":10}},{"id":"a5022c34-3b67-41ef-9e1f-e1ec73bab31e","block_type":"box","text":"Accumulation Units Class 2","page_number":187,"box":{"x":71,"y":610,"width":199,"height":8}},{"id":"01e93929-8242-47c6-97ff-e26a26975e01","block_type":"box","text":"(%)","page_number":187,"box":{"x":72,"y":623,"width":21,"height":10}},{"id":"7b4a280c-4fd8-4d6c-a136-78fad4a7ab8c","block_type":"box","text":"UK Corporate Accumulation","page_number":187,"box":{"x":72,"y":647,"width":198,"height":10}},{"id":"9f2fe3b4-7ce8-43be-85a9-1f0af54ec59a","block_type":"box","text":"Units (%)","page_number":187,"box":{"x":72,"y":660,"width":60,"height":10}},{"id":"787ec903-95db-46df-b84b-c5d42814f698","block_type":"box","text":"6.89","page_number":187,"box":{"x":290,"y":648,"width":28,"height":7}},{"id":"deb140cd-bb80-43d0-a5fe-4088d55ff0a6","block_type":"box","text":"8.52","page_number":187,"box":{"x":403,"y":648,"width":28,"height":7}},{"id":"6dc30cbe-1bff-4f23-af44-61b03bdfc6ef","block_type":"box","text":"-2.31","page_number":187,"box":{"x":517,"y":648,"width":31,"height":7}},{"id":"78852650-c837-4fe0-a409-6c25616900fc","block_type":"box","text":"14.7","page_number":187,"box":{"x":631,"y":648,"width":28,"height":7}},{"id":"834b5549-c23b-4081-a99f-77dc1c858e46","block_type":"box","text":"-10.6","page_number":187,"box":{"x":743,"y":648,"width":34,"height":7}},{"id":"029afeb6-b588-4856-a888-353b9cd2f36c","block_type":"box","text":"Insured Pension","page_number":187,"box":{"x":72,"y":691,"width":198,"height":7}},{"id":"479fbb94-9689-4fc8-a89f-681a3893962c","block_type":"box","text":"Accumulation Units (%)","page_number":187,"box":{"x":71,"y":703,"width":156,"height":10}},{"id":"d35d6378-88c7-4094-a56c-f3d57242c8f0","block_type":"box","text":"6.89","page_number":187,"box":{"x":290,"y":691,"width":28,"height":7}},{"id":"2575c890-3103-449f-97ed-67b54a567291","block_type":"box","text":"8.52","page_number":187,"box":{"x":403,"y":691,"width":28,"height":7}},{"id":"54bf658f-9b96-4ee3-b601-3b8c9bd7e1cc","block_type":"box","text":"-2.31","page_number":187,"box":{"x":517,"y":691,"width":31,"height":7}},{"id":"b02b3de7-9614-4f14-9ca7-da7e205f8c27","block_type":"box","text":"14.7","page_number":187,"box":{"x":631,"y":691,"width":28,"height":7}},{"id":"e59f8055-1966-418d-89a5-0660a521f89f","block_type":"box","text":"-10.6","page_number":187,"box":{"x":743,"y":691,"width":34,"height":7}},{"id":"30880f58-444a-46fe-a9de-2bbd57e3855f","block_type":"box","text":"UK Fund of Fund","page_number":187,"box":{"x":72,"y":733,"width":198,"height":8}},{"id":"d6c89d74-f923-49ab-b156-62da7d94bfc1","block_type":"box","text":"Accumulation Units (%)","page_number":187,"box":{"x":71,"y":746,"width":156,"height":10}},{"id":"a4bac053-e4f7-4208-86e3-815393ac68bb","block_type":"box","text":"Index - FTSE® All-Share ex IT","page_number":187,"box":{"x":72,"y":773,"width":201,"height":8}},{"id":"a1777818-a647-4f0b-94be-e25740156740","block_type":"box","text":"ex Aviva Index","page_number":187,"box":{"x":72,"y":786,"width":99,"height":8}},{"id":"f2d63a8b-cb5d-4e33-83c2-6a06f92f8810","block_type":"box","text":"9.55","page_number":187,"box":{"x":290,"y":774,"width":30,"height":7}},{"id":"e3c14bc8-0bbf-4354-bd0d-ada692361e5d","block_type":"box","text":"8.11","page_number":187,"box":{"x":404,"y":774,"width":27,"height":7}},{"id":"23f88f36-9382-4f95-ace1-4df4c0bdfa1d","block_type":"box","text":"1.63","page_number":187,"box":{"x":519,"y":774,"width":27,"height":7}},{"id":"df861be0-2477-48f4-a06b-56b7d022c68b","block_type":"box","text":"18.6","page_number":187,"box":{"x":633,"y":774,"width":27,"height":7}},{"id":"c9c7f428-18d7-4613-8392-b109579989f4","block_type":"box","text":"-11.3","page_number":187,"box":{"x":744,"y":774,"width":34,"height":7}},{"id":"3ec2f60a-fe5e-4abe-82f2-25019102d2ce","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":188,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"53e9b9e6-cdbe-4b2a-a5fa-a53b452dfeac","block_type":"box","text":"188","page_number":188,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"38052f68-2ed6-4965-a801-1726d95fb660","block_type":"box","text":"Aviva Investors: Confidential","page_number":188,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"9a434203-7c28-4a80-a4b5-a97489338046","block_type":"box","text":"AI Continental European Equity Alpha Fund","page_number":188,"box":{"x":62,"y":58,"width":347,"height":12}},{"id":"fbe2798c-da48-48cb-9840-a73fdf9af9ec","block_type":"box","text":"(please note that this Sub-Fund is in the process of being terminated and is no longer available for investment)","page_number":188,"box":{"x":63,"y":78,"width":817,"height":11}},{"id":"0e18cde4-2527-4226-8890-657e2abe994e","block_type":"box","text":"FCA product reference number: 757485","page_number":188,"box":{"x":63,"y":98,"width":312,"height":11}},{"id":"dc1a9ff2-d01a-48e2-925e-d23c8f733b85","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":188,"box":{"x":62,"y":137,"width":860,"height":10}},{"id":"fa63e6f0-61cf-4a84-bb23-d6ccbf823e3d","block_type":"box","text":"was authorised by the FCA on 26 April 2016.","page_number":188,"box":{"x":62,"y":150,"width":331,"height":12}},{"id":"284b2ebf-6981-4b9b-89cd-6f76f8033f1a","block_type":"box","text":"Investment Objective and Policy","page_number":188,"box":{"x":62,"y":190,"width":257,"height":11}},{"id":"c4effd3d-e547-49c4-b5f7-100d11316199","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of European","page_number":188,"box":{"x":62,"y":209,"width":860,"height":11}},{"id":"ad6abe3a-d176-47e7-8674-c87be2fb08e5","block_type":"box","text":"companies.","page_number":188,"box":{"x":62,"y":223,"width":84,"height":11}},{"id":"b8b7e8db-148f-44a1-be5c-a1e45e2e9791","block_type":"box","text":"Core investment:","page_number":188,"box":{"x":62,"y":242,"width":135,"height":9}},{"id":"45d3b150-04a0-4452-9774-baf247f6da41","block_type":"box","text":"At least 80% of the Sub-Fund will be invested in shares of companies incorporated or domiciled in continental Europe","page_number":188,"box":{"x":62,"y":262,"width":861,"height":11}},{"id":"6f957302-918f-4e9c-a81f-5d9b655fce56","block_type":"box","text":"(including emerging markets).","page_number":188,"box":{"x":63,"y":276,"width":218,"height":11}},{"id":"967185c8-e1ab-44e9-ae06-8ee8d3bab7fa","block_type":"box","text":"Other investments:","page_number":188,"box":{"x":62,"y":295,"width":151,"height":9}},{"id":"9ede6020-eee0-4972-8a1c-0da3fc07fb35","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies),","page_number":188,"box":{"x":62,"y":315,"width":860,"height":11}},{"id":"a000287e-a13e-4a07-a2b0-3328d1d2ba36","block_type":"box","text":"derivatives, cash and deposits.","page_number":188,"box":{"x":62,"y":329,"width":228,"height":11}},{"id":"efd71edf-d778-4d51-8f32-56204e2cc085","block_type":"box","text":"Derivatives may be used for investment purposes or to gain a particular market exposure which would otherwise be","page_number":188,"box":{"x":63,"y":348,"width":860,"height":11}},{"id":"d476a049-c740-4e5c-9d00-f386edd1698f","block_type":"box","text":"difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner. Derivatives may also","page_number":188,"box":{"x":62,"y":362,"width":861,"height":11}},{"id":"37c44ddc-8208-472f-b097-01305371f813","block_type":"box","text":"be used to reduce risk, such as foreign currency risk within the Sub-Fund.","page_number":188,"box":{"x":62,"y":375,"width":545,"height":12}},{"id":"2610d032-cc64-459c-a6e5-f7b24e45afd5","block_type":"box","text":"Strategy","page_number":188,"box":{"x":62,"y":395,"width":66,"height":11}},{"id":"0144e066-1672-4b88-b48b-c8e6e6587fbd","block_type":"box","text":":","page_number":188,"box":{"x":130,"y":398,"width":2,"height":6}},{"id":"ce1ccdcb-65a6-45fd-afd5-79208ecd1c47","block_type":"box","text":"The Sub-Fund is actively managed allowing the Investment Manager the freedom to typically invest in European","page_number":188,"box":{"x":62,"y":415,"width":860,"height":11}},{"id":"d7533b74-8815-41e5-88c0-848024121a80","block_type":"box","text":"companies outside of the UK of any size, and at any stage of the business cycle. This is balanced by an emphasis","page_number":188,"box":{"x":62,"y":428,"width":861,"height":12}},{"id":"74da3c4a-7bc0-4a69-9606-017a3a473964","block_type":"box","text":"on risk management within the Sub-Fund, so the portfolio will be built from a diverse range of companies across","page_number":188,"box":{"x":62,"y":442,"width":861,"height":11}},{"id":"fadb97a2-c0a1-4e91-a277-5813ce8a05cc","block_type":"box","text":"different industry sectors.","page_number":188,"box":{"x":62,"y":456,"width":186,"height":11}},{"id":"7dcf6cd2-3356-43a8-916e-b10d8e2d5385","block_type":"box","text":"Environmental Social and Governance (ESG) factors:","page_number":188,"box":{"x":63,"y":475,"width":422,"height":11}},{"id":"72c9c985-9ab0-4d09-aff5-7446b08ff440","block_type":"box","text":"ESG factors are integrated into the investment process and are considered alongside a range of financial metrics and","page_number":188,"box":{"x":63,"y":495,"width":859,"height":11}},{"id":"7caff1a2-b1ae-4df6-b75b-7a391ce2f814","block_type":"box","text":"research, but the Investment Manager retains discretion over which investments are selected. We also actively","page_number":188,"box":{"x":63,"y":509,"width":860,"height":11}},{"id":"668229e4-8d63-4873-a4cd-ff91d476045a","block_type":"box","text":"engage with companies and use voting rights with the aim of positively influencing company behaviour and helping","page_number":188,"box":{"x":62,"y":522,"width":860,"height":11}},{"id":"77d764ab-7181-4e4d-94f1-53470acd4df2","block_type":"box","text":"to create competitive returns. In addition, the Sub-Fund has limited exclusions based on Aviva Investors’ UK","page_number":188,"box":{"x":62,"y":536,"width":861,"height":11}},{"id":"fc2dfe52-69fd-4fb0-adef-b3521a01e80b","block_type":"box","text":"Responsible Investment policy. Further information on how we integrate ESG and the Aviva Investors UK Responsible","page_number":188,"box":{"x":63,"y":549,"width":860,"height":12}},{"id":"d6ffba66-f060-48f5-b320-2ea3b52d72ab","block_type":"box","text":"Investment policy into our investment approach, and how we engage with companies is available on our website and","page_number":188,"box":{"x":63,"y":563,"width":860,"height":11}},{"id":"050c5b8e-e867-43ea-ae53-1181026f6d4b","block_type":"box","text":"in the prospectus.","page_number":188,"box":{"x":62,"y":577,"width":130,"height":11}},{"id":"e723d808-5a91-4376-99ea-5d9a27368fd8","block_type":"box","text":"Performance & Risk Measurement:","page_number":188,"box":{"x":63,"y":596,"width":275,"height":9}},{"id":"6c46c2ad-186b-414f-a1a2-1a6a5644a6d8","block_type":"box","text":"The Sub-Fund’s performance, is compared against the FTSE® World Europe (ex UK) Index (the “Index”)","page_number":188,"box":{"x":62,"y":616,"width":775,"height":11}},{"id":"4b6add6d-ee8e-473c-9bb4-9984e34936d8","block_type":"box","text":"□","page_number":188,"box":{"x":839,"y":617,"width":5,"height":4}},{"id":"b2916c07-28f6-4c08-a74b-d159086d88ff","block_type":"box","text":".","page_number":188,"box":{"x":846,"y":623,"width":2,"height":2}},{"id":"db02fa42-7bb7-445d-9587-a49168c83aa1","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":188,"box":{"x":62,"y":636,"width":860,"height":11}},{"id":"ab03fe4a-8294-432b-ab25-03f8f6154579","block_type":"box","text":"may also hold companies that do not form part of it. Any overweight position is capped at 4% of the Sub-Fund’s value","page_number":188,"box":{"x":62,"y":649,"width":861,"height":12}},{"id":"6b216f7c-30bb-47e7-8a79-0154bd85f4aa","block_type":"box","text":"over and above the Index weight of that company.","page_number":188,"box":{"x":62,"y":663,"width":369,"height":11}},{"id":"2a62e6e7-1895-4282-b3a8-9e015d620a3c","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":188,"box":{"x":62,"y":682,"width":861,"height":12}},{"id":"087e4f4a-7011-4480-a30f-bbdf97785e18","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":188,"box":{"x":63,"y":696,"width":859,"height":11}},{"id":"cfdd26bc-d680-4176-becf-9833c3419d87","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 2.5% and 7.5% when","page_number":188,"box":{"x":62,"y":710,"width":860,"height":11}},{"id":"4baa9731-d66a-494a-93d6-fbb9dc66b443","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":188,"box":{"x":62,"y":723,"width":650,"height":12}},{"id":"f758771b-5b21-44c3-bab9-ec3d4def4f9d","block_type":"box","text":"The Index represents developed and emerging markets in Europe, excluding the UK, and consists of large and","page_number":188,"box":{"x":62,"y":743,"width":860,"height":11}},{"id":"46600b21-9e5f-4984-8823-0521ee2ddc58","block_type":"box","text":"medium sized companies, as defined by their market capitalisation (total market value of a company’s outstanding","page_number":188,"box":{"x":62,"y":757,"width":860,"height":11}},{"id":"7be9f916-3134-4d7f-90bd-939e7397516e","block_type":"box","text":"shares).","page_number":188,"box":{"x":62,"y":770,"width":59,"height":12}},{"id":"8932e2f4-9d4d-4dad-8450-478db69547a8","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":188,"box":{"x":62,"y":790,"width":861,"height":11}},{"id":"75fa9815-60a2-4ecf-b480-20861463c39b","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the","page_number":188,"box":{"x":62,"y":804,"width":861,"height":11}},{"id":"6fc5c399-3a87-419a-adeb-a80cf94129cf","block_type":"box","text":"Sub-Fund’s performance.","page_number":188,"box":{"x":62,"y":817,"width":187,"height":11}},{"id":"41768504-812c-4b21-bb5e-0faa991ca20b","block_type":"box","text":"Additional Information","page_number":188,"box":{"x":62,"y":857,"width":177,"height":8}},{"id":"26d7a123-3798-49a8-bbf7-04e1b282827f","block_type":"box","text":"Investment Manager","page_number":188,"box":{"x":118,"y":883,"width":151,"height":11}},{"id":"defc9961-0d87-47ce-8314-980cc4e699d2","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":188,"box":{"x":352,"y":883,"width":294,"height":9}},{"id":"a7101a85-eda8-4c7a-a7e7-112bf862391c","block_type":"box","text":"Type of Units","page_number":188,"box":{"x":116,"y":909,"width":98,"height":11}},{"id":"52e8c030-0cdf-4db6-8675-8d714a2bbe1d","block_type":"box","text":"UK Corporate Accumulation Units","page_number":188,"box":{"x":353,"y":909,"width":250,"height":11}},{"id":"67f84f0f-eda6-49ab-b69e-aad42242e387","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":189,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"81d10e4d-ef89-4c9c-b493-70ef986cc40b","block_type":"box","text":"189","page_number":189,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"4e1b67f2-ea26-41a1-be0b-753a4d318a81","block_type":"box","text":"Aviva Investors: Confidential","page_number":189,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"3134f8fa-23fd-4246-b840-4385c88fdc55","block_type":"box","text":"Insured Pension Accumulation Units","page_number":189,"box":{"x":354,"y":59,"width":267,"height":9}},{"id":"d6275dd7-9076-41a7-8740-7dcdd85686f6","block_type":"box","text":"UK Institutional Accumulation Units","page_number":189,"box":{"x":353,"y":85,"width":260,"height":9}},{"id":"9e1ec752-9236-4c8c-bc7f-551c9b8067d2","block_type":"box","text":"Dealing Day","page_number":189,"box":{"x":118,"y":111,"width":89,"height":12}},{"id":"654411d7-298b-4f1c-b02f-67e25aacfd54","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":189,"box":{"x":354,"y":111,"width":393,"height":11}},{"id":"2cb80dd7-6559-43a8-8637-b0d32fc29458","block_type":"box","text":"Deal Cut-Off Point","page_number":189,"box":{"x":118,"y":137,"width":134,"height":9}},{"id":"1b5ec2c2-b76d-41e4-8196-e9e3f158adc9","block_type":"box","text":"1.00 p.m.","page_number":189,"box":{"x":354,"y":138,"width":66,"height":11}},{"id":"97c803a4-eba9-4cd2-ba2c-5d76394f70ce","block_type":"box","text":"Valuation Point","page_number":189,"box":{"x":117,"y":164,"width":112,"height":8}},{"id":"869bfd10-e4d7-49e4-8f8c-8b791f92d62c","block_type":"box","text":"2.00 p.m.","page_number":189,"box":{"x":353,"y":164,"width":67,"height":11}},{"id":"687471e3-0c3d-41d6-99f9-25eadc2e0c81","block_type":"box","text":"*Minimum Investment","page_number":189,"box":{"x":117,"y":190,"width":172,"height":8}},{"id":"661022f0-19ca-46fa-b60d-f06cb72fecb7","block_type":"box","text":"UK Corporate Accumulation","page_number":189,"box":{"x":118,"y":216,"width":215,"height":11}},{"id":"036f54fb-2f94-415c-a8c5-79b56c45df7e","block_type":"box","text":"Units, Insured Pension","page_number":189,"box":{"x":118,"y":230,"width":215,"height":10}},{"id":"2f9ee1ed-782c-4801-bd01-bb8541974362","block_type":"box","text":"Accumulation Units,","page_number":189,"box":{"x":116,"y":243,"width":168,"height":10}},{"id":"86a917c0-d2c2-42c3-87fc-88f4a2383f6e","block_type":"box","text":"UK","page_number":189,"box":{"x":312,"y":243,"width":22,"height":9}},{"id":"44f824aa-0f10-4ace-8825-639b2db51186","block_type":"box","text":"Institutional Accumulation","page_number":189,"box":{"x":118,"y":257,"width":215,"height":9}},{"id":"dab6b193-6e37-4261-b66a-498b71e40f4f","block_type":"box","text":"Units","page_number":189,"box":{"x":118,"y":271,"width":36,"height":8}},{"id":"bcacd178-5350-4cdc-9c1c-72eab79dd7ee","block_type":"box","text":"No minimum","page_number":189,"box":{"x":353,"y":216,"width":92,"height":9}},{"id":"00716249-b573-4ea1-ae87-508ec97d80d7","block_type":"box","text":"Minimum withdrawal","page_number":189,"box":{"x":117,"y":297,"width":150,"height":8}},{"id":"56b7f209-fe33-402d-aa85-780d8920cc4f","block_type":"box","text":"No minimum","page_number":189,"box":{"x":353,"y":297,"width":92,"height":8}},{"id":"d381ccd2-8844-4b9f-b9db-ad390f9e9a78","block_type":"box","text":"Tax Criteria for investment","page_number":189,"box":{"x":116,"y":323,"width":213,"height":9}},{"id":"89fa2c32-72fc-4536-9efc-737899fc8bd6","block_type":"box","text":"UK Corporate Accumulation","page_number":189,"box":{"x":118,"y":349,"width":215,"height":11}},{"id":"daa7b1fc-9d6d-4912-ae7f-5db33f513e31","block_type":"box","text":"Units","page_number":189,"box":{"x":118,"y":363,"width":36,"height":8}},{"id":"2fd31b2c-8c99-4b63-9984-ccd23dfb50c3","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":189,"box":{"x":352,"y":349,"width":404,"height":11}},{"id":"4f4dbfc2-cc94-4034-ab4b-da1d135775f5","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":189,"box":{"x":353,"y":362,"width":404,"height":11}},{"id":"913cf3f3-15e3-4a53-bf1b-77db424f2aed","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":189,"box":{"x":352,"y":376,"width":405,"height":11}},{"id":"3bfd321b-4cd4-4e08-af11-2789d67fe90f","block_type":"box","text":"linked pension business contracts.","page_number":189,"box":{"x":353,"y":390,"width":253,"height":11}},{"id":"322a6f48-0394-41b0-8497-549af2d2cb15","block_type":"box","text":"Insured Pension","page_number":189,"box":{"x":118,"y":416,"width":215,"height":9}},{"id":"55d887f6-eb90-441e-a3c5-3eb5984ddd87","block_type":"box","text":"Accumulation Units","page_number":189,"box":{"x":116,"y":430,"width":143,"height":8}},{"id":"9f5aa843-c0e0-4e66-8569-3bd3a0e76f5b","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":189,"box":{"x":352,"y":416,"width":404,"height":11}},{"id":"e3ca025c-7921-40f2-8b01-16953972f1e6","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":189,"box":{"x":353,"y":429,"width":404,"height":12}},{"id":"bc1bfbe3-0f8f-4a26-80d5-e80c0502e887","block_type":"box","text":"back exclusively its unit linked pension business","page_number":189,"box":{"x":353,"y":443,"width":404,"height":11}},{"id":"8a4f1238-397c-48dc-8a76-37fbee100036","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":189,"box":{"x":353,"y":457,"width":404,"height":11}},{"id":"60d264a0-232c-4c11-a0d2-0421af7920ea","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":189,"box":{"x":353,"y":471,"width":307,"height":11}},{"id":"9c1169e4-ba79-4c00-990a-f204fed96cd4","block_type":"box","text":"UK Institutional","page_number":189,"box":{"x":118,"y":497,"width":110,"height":8}},{"id":"3e7acb71-5634-42ef-a839-c6ef7b62920e","block_type":"box","text":"Accumulation Units","page_number":189,"box":{"x":116,"y":510,"width":143,"height":9}},{"id":"54d71cb0-0a1f-450d-9864-d8a62bbe03f9","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":189,"box":{"x":352,"y":497,"width":404,"height":11}},{"id":"8225a2bf-7b65-4869-92bb-004e68967bbc","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":189,"box":{"x":353,"y":510,"width":403,"height":12}},{"id":"44dc7805-f3ab-40b2-8efd-7a9d709a7f53","block_type":"box","text":"tax treaties.","page_number":189,"box":{"x":352,"y":524,"width":85,"height":9}},{"id":"64a980df-a57e-4ab5-9df8-88928dc9f720","block_type":"box","text":"**Current Charges:","page_number":189,"box":{"x":117,"y":556,"width":149,"height":11}},{"id":"e46791a0-20ef-4f4f-bf47-fb1b9dc95e34","block_type":"box","text":"UK Corporate Accumulation","page_number":189,"box":{"x":118,"y":582,"width":205,"height":11}},{"id":"da6d1086-54a7-4043-af2f-ef6b4bf2fef3","block_type":"box","text":"Units, Insured Pension","page_number":189,"box":{"x":118,"y":596,"width":166,"height":10}},{"id":"fc4ee9bd-6314-4c61-a6ea-67a03c5f9b5e","block_type":"box","text":"Accumulation Units","page_number":189,"box":{"x":116,"y":610,"width":143,"height":8}},{"id":"35d593fa-b439-472d-934a-b2d5838ec6ee","block_type":"box","text":",","page_number":189,"box":{"x":261,"y":617,"width":2,"height":3}},{"id":"12567658-9459-4704-bb1a-ac4c52c748e6","block_type":"box","text":"UK","page_number":189,"box":{"x":271,"y":610,"width":21,"height":8}},{"id":"b34917af-2b3a-425d-9282-3ea13e40e05f","block_type":"box","text":"Institutional Accumulation","page_number":189,"box":{"x":118,"y":623,"width":187,"height":9}},{"id":"32e2cabf-4aad-415f-8105-5c719e2f0245","block_type":"box","text":"Units","page_number":189,"box":{"x":118,"y":637,"width":36,"height":9}},{"id":"932c69a1-ffbb-4bcf-83b5-538aaa950671","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":189,"box":{"x":352,"y":582,"width":404,"height":11}},{"id":"a8b5551b-7be7-4006-997b-16017816a867","block_type":"box","text":"Unitholder","page_number":189,"box":{"x":353,"y":596,"width":75,"height":9}},{"id":"b91d4680-6841-47f9-92c9-f45e3c9e2287","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":189,"box":{"x":352,"y":615,"width":404,"height":12}},{"id":"a056389a-cf55-45d4-93b1-9347cb852c8c","block_type":"box","text":"property","page_number":189,"box":{"x":353,"y":630,"width":60,"height":10}},{"id":"72040b78-a790-4b81-a4a9-a2ea9f6f42c4","block_type":"box","text":"Accounting Dates","page_number":189,"box":{"x":117,"y":663,"width":141,"height":11}},{"id":"e9f026d1-9619-4083-b75e-a49065937455","block_type":"box","text":"Annual Accounting Date","page_number":189,"box":{"x":116,"y":689,"width":180,"height":11}},{"id":"3b637559-c28d-4725-afbe-5e0a6aa217bf","block_type":"box","text":"31 December","page_number":189,"box":{"x":353,"y":689,"width":100,"height":9}},{"id":"2c62b631-3235-4c10-88a0-25573d76f946","block_type":"box","text":"First Accounting Date","page_number":189,"box":{"x":118,"y":715,"width":158,"height":12}},{"id":"097b6a5e-4015-4c8a-924e-05ead6fa45ad","block_type":"box","text":"31 December 2017","page_number":189,"box":{"x":353,"y":715,"width":141,"height":9}},{"id":"5fbcd1cd-a7bb-4a1e-b153-d5517899118a","block_type":"box","text":"Annual Income Allocation","page_number":189,"box":{"x":116,"y":741,"width":188,"height":9}},{"id":"ec0d51d7-aaca-4b74-961d-45cd88ba6b42","block_type":"box","text":"Date","page_number":189,"box":{"x":118,"y":755,"width":33,"height":9}},{"id":"a6ceb99c-8c7c-42a7-ba2f-7ea04e06aaa9","block_type":"box","text":"On or before 28 /29 February","page_number":189,"box":{"x":353,"y":741,"width":217,"height":12}},{"id":"886f3094-a606-4e82-b92c-d5b9c784abe9","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":189,"box":{"x":118,"y":781,"width":293,"height":11}},{"id":"bb594953-f166-4c96-b099-1c76cc639b15","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":189,"box":{"x":62,"y":827,"width":861,"height":11}},{"id":"9ce25f00-3c34-463e-90a6-31e35a786805","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":189,"box":{"x":62,"y":840,"width":408,"height":12}},{"id":"7aef2790-acfd-4fae-abad-f1c590d22393","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":189,"box":{"x":62,"y":860,"width":642,"height":11}},{"id":"1cc8dfc7-7213-4fcd-892c-335ff5716822","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":189,"box":{"x":62,"y":880,"width":860,"height":11}},{"id":"0e276621-39ef-4641-a15d-35cbdb113e75","block_type":"box","text":"this Prospectus.","page_number":189,"box":{"x":62,"y":893,"width":117,"height":11}},{"id":"f7160923-2752-467f-84e7-a764b5de8e5c","block_type":"box","text":"□","page_number":189,"box":{"x":62,"y":914,"width":5,"height":4}},{"id":"35fca405-95fa-4095-a130-8075be789ab0","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":189,"box":{"x":74,"y":913,"width":342,"height":9}},{"id":"1a19719d-ffd6-4bc7-8839-378898374e04","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":190,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"90e7fe0b-f19f-40d4-8bf9-c8e0eb30c0f6","block_type":"box","text":"190","page_number":190,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"1f5b5d19-2d33-455e-8c6a-00f5808cd8ce","block_type":"box","text":"Aviva Investors: Confidential","page_number":190,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d6dc9c53-5ef3-4e6a-af02-455885464241","block_type":"box","text":"Securities Financing and other Transactions:","page_number":190,"box":{"x":62,"y":53,"width":358,"height":11}},{"id":"c6c7ad12-0257-4131-90d2-daa10539649d","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":190,"box":{"x":62,"y":72,"width":860,"height":11}},{"id":"11b7ae1b-481e-43b5-8105-c1355e7412cf","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":190,"box":{"x":62,"y":86,"width":438,"height":11}},{"id":"f1242938-54bd-4b37-89a2-914b18d1c636","block_type":"box","text":"The maximum proportion of the assets of the Sub-Fund which may be subject to securities lending or repo","page_number":190,"box":{"x":62,"y":125,"width":787,"height":11}},{"id":"02322d9d-9868-4e3b-92f9-bedcf73cec1d","block_type":"box","text":"transactions is as follows:","page_number":190,"box":{"x":62,"y":141,"width":188,"height":8}},{"id":"496e2cc9-c602-496d-b518-0a61d76e87c4","block_type":"box","text":"Securities Lending","page_number":190,"box":{"x":72,"y":177,"width":125,"height":11}},{"id":"146623c7-b80f-4990-9d60-d316fa25ed12","block_type":"box","text":"50%","page_number":190,"box":{"x":460,"y":177,"width":28,"height":9}},{"id":"eb333177-4c8d-47b4-b29f-e6ed6bc87c7f","block_type":"box","text":"Repo Transactions","page_number":190,"box":{"x":71,"y":199,"width":125,"height":11}},{"id":"db1b7e95-ae73-4b0d-af68-bf2c87d75f67","block_type":"box","text":"50%","page_number":190,"box":{"x":460,"y":199,"width":28,"height":9}},{"id":"63649e44-d050-4dea-b345-2b7fb5f1f18f","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":190,"box":{"x":62,"y":240,"width":823,"height":12}},{"id":"f52afa57-9ed5-4786-99fb-c9bbf5e02fb8","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to securities lending or repo","page_number":190,"box":{"x":62,"y":256,"width":823,"height":11}},{"id":"ca5b31e8-df3a-40db-a2ac-0f8315dbd00c","block_type":"box","text":"transactions is as follows:","page_number":190,"box":{"x":62,"y":272,"width":188,"height":9}},{"id":"c2954f0c-361d-4bad-8bd9-ee6dec5fba44","block_type":"box","text":"Securities Lending","page_number":190,"box":{"x":72,"y":308,"width":125,"height":11}},{"id":"f98c2bbe-581b-4662-9aba-81b47d6f6b6f","block_type":"box","text":"15","page_number":190,"box":{"x":461,"y":308,"width":14,"height":8}},{"id":"513626e5-0d5e-454b-a975-775bacf240c5","block_type":"box","text":"%","page_number":190,"box":{"x":477,"y":309,"width":11,"height":8}},{"id":"a0cc952f-85ce-4999-b7a7-06210fa6a197","block_type":"box","text":"Repo Transactions","page_number":190,"box":{"x":71,"y":330,"width":125,"height":11}},{"id":"4e01193f-3023-4fbc-99f2-7e14a7eef316","block_type":"box","text":"7.5%","page_number":190,"box":{"x":459,"y":330,"width":33,"height":9}},{"id":"30105954-e184-48cc-b705-bdbca0685e02","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":190,"box":{"x":62,"y":389,"width":860,"height":11}},{"id":"09aafff1-3f01-4eed-a7fa-15f781f782cf","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":190,"box":{"x":62,"y":403,"width":860,"height":11}},{"id":"43842ca9-7518-495c-9594-af726528cfff","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":190,"box":{"x":62,"y":416,"width":861,"height":12}},{"id":"a08d7b2c-7a67-4fce-a27e-c4eba8c52d15","block_type":"box","text":"is zero.","page_number":190,"box":{"x":62,"y":430,"width":52,"height":9}},{"id":"a56edef7-facf-45bf-a456-31e75c4a1cce","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":190,"box":{"x":62,"y":489,"width":249,"height":9}},{"id":"c67cb845-2b94-42c5-9c95-a6b3c9040265","block_type":"box","text":"Leverage","page_number":190,"box":{"x":63,"y":528,"width":72,"height":11}},{"id":"3d057209-603d-4a04-8398-f0a9e557b225","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":190,"box":{"x":63,"y":548,"width":860,"height":11}},{"id":"6d948787-8f18-423f-b6bc-3e85872290d9","block_type":"box","text":"management.","page_number":190,"box":{"x":62,"y":562,"width":101,"height":10}},{"id":"a77d22f5-4097-48fc-a955-a6220bd8cea2","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":190,"box":{"x":62,"y":594,"width":860,"height":12}},{"id":"7be98053-be19-4596-b03a-857b29172777","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":190,"box":{"x":62,"y":608,"width":649,"height":11}},{"id":"e4f22d9b-d51e-475a-a336-58de96373e6a","block_type":"box","text":"All transactions in derivatives are fully covered, and are not used as a means of gearing the Sub-Fund.","page_number":190,"box":{"x":62,"y":635,"width":760,"height":12}},{"id":"ac081db9-1844-49ae-b211-4dc6e1f97dd5","block_type":"box","text":"Permitted derivatives","page_number":190,"box":{"x":72,"y":665,"width":168,"height":9}},{"id":"a151a23c-f87f-46a6-b8b2-5570f0fd7ec7","block_type":"box","text":"Permitted?","page_number":190,"box":{"x":383,"y":665,"width":85,"height":9}},{"id":"ddd2a73c-fd85-4532-90fb-af2873dad6c1","block_type":"box","text":"Prohibited?","page_number":190,"box":{"x":489,"y":665,"width":91,"height":9}},{"id":"6922c34a-a89e-4e7f-a577-92bcb58d53a1","block_type":"box","text":"Equity index futures","page_number":190,"box":{"x":72,"y":686,"width":146,"height":11}},{"id":"7c6add8e-1e8b-430e-9b75-38f8377d4a8b","block_type":"box","text":"√","page_number":190,"box":{"x":421,"y":686,"width":8,"height":8}},{"id":"9b421e95-bd10-40a5-b5b2-16160aff3121","block_type":"box","text":"Government bond futures","page_number":190,"box":{"x":72,"y":704,"width":188,"height":9}},{"id":"fd22ec06-5aab-4c95-ba2a-b48f2ef732da","block_type":"box","text":"√","page_number":190,"box":{"x":530,"y":705,"width":8,"height":7}},{"id":"0c474efc-aa70-4144-b580-2b3ed66894b3","block_type":"box","text":"Equity index options","page_number":190,"box":{"x":72,"y":723,"width":148,"height":11}},{"id":"6985e1c5-0c21-4276-a866-e208eb77478c","block_type":"box","text":"√","page_number":190,"box":{"x":530,"y":723,"width":8,"height":8}},{"id":"6aaf8c95-3ce9-4ced-a3be-6e62c0ecef2d","block_type":"box","text":"Forward foreign exchange","page_number":190,"box":{"x":72,"y":741,"width":193,"height":11}},{"id":"f767fd9a-3e8e-4cd7-b458-261d5843129d","block_type":"box","text":"√","page_number":190,"box":{"x":421,"y":741,"width":8,"height":8}},{"id":"834269fc-ad37-4e3a-b9a2-40e51480898c","block_type":"box","text":"Index credit default swaps","page_number":190,"box":{"x":72,"y":759,"width":192,"height":12}},{"id":"8985bd77-c458-4b56-96f7-e328e8e49785","block_type":"box","text":"√","page_number":190,"box":{"x":530,"y":760,"width":8,"height":8}},{"id":"82be62db-114f-456c-a595-a669f87626eb","block_type":"box","text":"Interest rate swaps","page_number":190,"box":{"x":72,"y":778,"width":140,"height":11}},{"id":"0dffa16e-15f8-40d3-951c-7b7ad40fd885","block_type":"box","text":"√","page_number":190,"box":{"x":530,"y":778,"width":8,"height":8}},{"id":"c77572c8-7415-4371-a0b3-2524a170e53b","block_type":"box","text":"OTC equity options","page_number":190,"box":{"x":72,"y":796,"width":142,"height":12}},{"id":"e3d05bd0-072f-4f2a-a1fb-e1c85d79f5dd","block_type":"box","text":"√","page_number":190,"box":{"x":530,"y":797,"width":8,"height":7}},{"id":"4141ef7a-35e4-4280-b01f-74879e1d16e6","block_type":"box","text":"Inflation swaps","page_number":190,"box":{"x":72,"y":815,"width":109,"height":11}},{"id":"1328025c-f96f-467f-9779-838460f47fe9","block_type":"box","text":"√","page_number":190,"box":{"x":530,"y":815,"width":8,"height":8}},{"id":"8d249ca7-e86c-46aa-a006-73a9e73d42bc","block_type":"box","text":"Cross currency swaps","page_number":190,"box":{"x":72,"y":833,"width":163,"height":11}},{"id":"aaa55df7-9cd7-421a-bb63-0d3b89ed5c2d","block_type":"box","text":"√","page_number":190,"box":{"x":530,"y":834,"width":8,"height":7}},{"id":"924ce2bd-dd43-48c3-b5af-48a6a946bdcf","block_type":"box","text":"Other","page_number":190,"box":{"x":72,"y":851,"width":41,"height":9}},{"id":"19cc0c56-81ba-46db-ba98-3c2fe5802cc1","block_type":"box","text":"√","page_number":190,"box":{"x":530,"y":852,"width":8,"height":8}},{"id":"95d0b54f-d0f1-4565-8bca-a68ba6e603db","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":190,"box":{"x":63,"y":879,"width":860,"height":12}},{"id":"d4b736b2-76b4-498a-a329-1953092b81da","block_type":"box","text":"2)","page_number":190,"box":{"x":62,"y":893,"width":13,"height":11}},{"id":"f056258d-6f82-4494-a7a1-2bb732bdf267","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":191,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"c72288b9-89f0-45a1-afb6-97f1f7768b58","block_type":"box","text":"191","page_number":191,"box":{"x":781,"y":940,"width":16,"height":6}},{"id":"3f689219-df2f-465c-935f-eff02658ef62","block_type":"box","text":"Aviva Investors: Confidential","page_number":191,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"4a2f9772-d856-4fc8-ab6d-e35e88c94ac0","block_type":"box","text":"Leverage Limits","page_number":191,"box":{"x":63,"y":52,"width":128,"height":12}},{"id":"a6f0d2fc-8708-44fe-b71c-f9c2124d665c","block_type":"box","text":"(Exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":191,"box":{"x":200,"y":52,"width":722,"height":12}},{"id":"13f6a917-86c4-49db-bf38-f85d40c1ff83","block_type":"box","text":"Regime):","page_number":191,"box":{"x":63,"y":66,"width":65,"height":11}},{"id":"de45d411-7897-4cd5-98e2-b5f761a75212","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":191,"box":{"x":62,"y":93,"width":471,"height":12}},{"id":"6ac115d8-0e50-4633-84fa-dd9d0cf28b47","block_type":"box","text":"","page_number":191,"box":{"x":62,"y":125,"width":6,"height":4}},{"id":"d7492680-cff7-4066-990e-c41199cf6dee","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":191,"box":{"x":92,"y":122,"width":193,"height":11}},{"id":"8693a1df-0d9a-4685-8266-5ab5197190bf","block_type":"box","text":"","page_number":191,"box":{"x":62,"y":141,"width":6,"height":5}},{"id":"cf95533c-ff23-4f7c-82a2-d6c2df9ad5b3","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":191,"box":{"x":92,"y":138,"width":183,"height":11}},{"id":"47ab2db8-a7c3-486f-a482-b8614e5956e1","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":191,"box":{"x":62,"y":166,"width":860,"height":11}},{"id":"a89a2b97-7201-47d6-abec-21536f02f1e3","block_type":"box","text":"which case leverage will not exceed the following:","page_number":191,"box":{"x":62,"y":179,"width":368,"height":12}},{"id":"d8cfecf5-5804-4f4a-8398-b80eb54d9f6b","block_type":"box","text":"","page_number":191,"box":{"x":62,"y":211,"width":6,"height":4}},{"id":"1bbe442c-c071-4db8-b002-65a8fa92b80e","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":191,"box":{"x":92,"y":207,"width":193,"height":12}},{"id":"28c80541-6496-4989-b626-024c0c138686","block_type":"box","text":"","page_number":191,"box":{"x":62,"y":227,"width":6,"height":4}},{"id":"81d6bb3c-4f3d-4d6f-9066-7f5882f2e819","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":191,"box":{"x":92,"y":224,"width":183,"height":11}},{"id":"4211bce4-7887-4d0b-a6d1-4e9f8374f7a8","block_type":"box","text":"Specific Risks","page_number":191,"box":{"x":62,"y":271,"width":113,"height":11}},{"id":"f912bbc3-c256-4178-88bb-b6382848b534","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":191,"box":{"x":181,"y":271,"width":462,"height":11}},{"id":"cedfed7e-34a6-48ce-ab5d-afff92969380","block_type":"box","text":"","page_number":191,"box":{"x":62,"y":295,"width":6,"height":4}},{"id":"2ff0bfe6-c9c0-42d9-94bf-ea488ca5d370","block_type":"box","text":"Smaller Companies","page_number":191,"box":{"x":92,"y":291,"width":145,"height":12}},{"id":"75eacf94-0920-4725-96c7-16fd4f83d0d6","block_type":"box","text":"","page_number":191,"box":{"x":62,"y":309,"width":6,"height":5}},{"id":"a87809d2-fcbb-4ae7-bcfd-38c15b00e41d","block_type":"box","text":"Concentration","page_number":191,"box":{"x":92,"y":306,"width":103,"height":9}},{"id":"840b9631-20bc-4af2-b651-91e099223201","block_type":"box","text":"","page_number":191,"box":{"x":62,"y":324,"width":6,"height":4}},{"id":"18180c98-3bd5-42cb-847a-76fd0fd9c515","block_type":"box","text":"Equity Securities","page_number":191,"box":{"x":93,"y":320,"width":123,"height":12}},{"id":"558aab77-88c7-4f23-b455-ea7546b4f22d","block_type":"box","text":"Past Performance – AI Continental European Equity Alpha Fund","page_number":191,"box":{"x":84,"y":354,"width":508,"height":11}},{"id":"2ed7c141-1b9e-45a8-94cd-323197035ec9","block_type":"box","text":"% Growth","page_number":191,"box":{"x":83,"y":374,"width":77,"height":9}},{"id":"b8c7ddeb-e704-4903-9724-214a05362ef7","block_type":"box","text":"1/1/2024 to","page_number":191,"box":{"x":282,"y":400,"width":94,"height":8}},{"id":"7c6f9f9e-7ea4-42ad-8a2d-ca80feb329b7","block_type":"box","text":"31/12/2024","page_number":191,"box":{"x":282,"y":412,"width":74,"height":8}},{"id":"4991be1f-35fb-4c76-9acc-3da4e900733b","block_type":"box","text":"1/1/2023 to","page_number":191,"box":{"x":395,"y":400,"width":94,"height":8}},{"id":"a175a6c3-4d70-4f2b-a3d1-4203cbf2fb5f","block_type":"box","text":"31/12/2023","page_number":191,"box":{"x":395,"y":412,"width":75,"height":8}},{"id":"975e0b43-b992-493e-8661-fbd60469d22a","block_type":"box","text":"1/1/2022 to","page_number":191,"box":{"x":509,"y":400,"width":93,"height":8}},{"id":"9241f329-a34f-4ffd-bdd4-3aac80afbde9","block_type":"box","text":"31/12/2022","page_number":191,"box":{"x":508,"y":412,"width":75,"height":8}},{"id":"3ecbb836-0ce4-4260-bee1-b646002b7bad","block_type":"box","text":"1/1/2021 to","page_number":191,"box":{"x":622,"y":400,"width":103,"height":8}},{"id":"db4b5b68-4c10-4f44-b18a-4f43ffcae97b","block_type":"box","text":"31/12/2021","page_number":191,"box":{"x":621,"y":412,"width":73,"height":8}},{"id":"ce38adf7-19cb-4be7-aef8-65b82d19dc10","block_type":"box","text":"1/1/2020 to","page_number":191,"box":{"x":744,"y":400,"width":94,"height":8}},{"id":"6ff24fcc-8dfd-4e5e-a432-bda982a8d61f","block_type":"box","text":"31/12/2020","page_number":191,"box":{"x":743,"y":412,"width":75,"height":8}},{"id":"d3bca77d-6e99-4559-86f9-947ab86a0637","block_type":"box","text":"UK Corporate Income","page_number":191,"box":{"x":84,"y":437,"width":179,"height":10}},{"id":"7c742cb5-22ea-4c25-a07b-445a61782004","block_type":"box","text":"Distribution Units (%)","page_number":191,"box":{"x":84,"y":449,"width":139,"height":10}},{"id":"29e8fd00-373d-46e9-9f4c-ee779ba84a73","block_type":"box","text":"Insured Pension Income","page_number":191,"box":{"x":84,"y":474,"width":179,"height":8}},{"id":"ff285812-427c-42fc-8fb7-9251d0ce3a3d","block_type":"box","text":"Distribution Units (%)","page_number":191,"box":{"x":84,"y":486,"width":139,"height":10}},{"id":"78e205d2-5571-414f-8424-fc601a0eb2e4","block_type":"box","text":"UK Institutional","page_number":191,"box":{"x":84,"y":511,"width":178,"height":8}},{"id":"db03aca6-c3d9-4834-849a-97522b3114c8","block_type":"box","text":"Accumulation Units (%)","page_number":191,"box":{"x":83,"y":523,"width":156,"height":10}},{"id":"56373c9c-f5fb-447a-8fa7-4b87498efbee","block_type":"box","text":"N/A","page_number":191,"box":{"x":282,"y":511,"width":24,"height":8}},{"id":"6dc31eb1-f0d1-4d26-9a21-3ef6fb8fcf6a","block_type":"box","text":"N/A","page_number":191,"box":{"x":396,"y":511,"width":23,"height":8}},{"id":"51483a8e-a507-4e77-bff1-13c7ea4ea17d","block_type":"box","text":"N/A","page_number":191,"box":{"x":509,"y":511,"width":24,"height":8}},{"id":"77674871-2c36-4dbd-a60e-27824520ac14","block_type":"box","text":"13.5","page_number":191,"box":{"x":622,"y":511,"width":28,"height":8}},{"id":"2b863ee2-b1ca-454c-b43a-eee22768aa8d","block_type":"box","text":"5.6","page_number":191,"box":{"x":743,"y":511,"width":21,"height":8}},{"id":"dd93a81f-10c5-45d3-8690-5cc9393e9e9a","block_type":"box","text":"ACS (Fund of Fund)","page_number":191,"box":{"x":83,"y":548,"width":179,"height":10}},{"id":"122dc896-7768-4cbe-a302-8c027ab24ff6","block_type":"box","text":"Accumulation Units Class","page_number":191,"box":{"x":83,"y":560,"width":180,"height":8}},{"id":"5661506c-1da5-4549-a83b-d14e5c84875f","block_type":"box","text":"1 (%)","page_number":191,"box":{"x":84,"y":572,"width":34,"height":10}},{"id":"cc1e8e71-d283-4639-86d7-75388747f38c","block_type":"box","text":"N/A","page_number":191,"box":{"x":282,"y":548,"width":24,"height":8}},{"id":"dfc6d4e8-ef04-4e82-a892-c06b1ed1f358","block_type":"box","text":"N/A","page_number":191,"box":{"x":396,"y":548,"width":23,"height":8}},{"id":"26355067-50e0-4bed-a6d2-e39811e775c7","block_type":"box","text":"N/A","page_number":191,"box":{"x":509,"y":548,"width":24,"height":8}},{"id":"e9b2112a-3b0d-4d0e-9da7-a85639842df0","block_type":"box","text":"N/A","page_number":191,"box":{"x":622,"y":548,"width":24,"height":8}},{"id":"6460a1d7-372d-43f9-984c-7516ed317e1a","block_type":"box","text":"N/A","page_number":191,"box":{"x":744,"y":548,"width":24,"height":8}},{"id":"0b7b0cba-dc90-4ed4-9af5-6cbf52bd2769","block_type":"box","text":"ACS (Fund of Fund)","page_number":191,"box":{"x":83,"y":597,"width":179,"height":10}},{"id":"5cd8fe14-5dbd-4d44-a4e2-045de8afc187","block_type":"box","text":"Accumulation Units Class","page_number":191,"box":{"x":83,"y":609,"width":180,"height":9}},{"id":"afeb1f60-3762-467e-b993-36fd99823a12","block_type":"box","text":"2 (%)","page_number":191,"box":{"x":83,"y":622,"width":35,"height":10}},{"id":"ca27fb1c-1a7c-4372-b019-95f084c83993","block_type":"box","text":"UK Corporate","page_number":191,"box":{"x":84,"y":647,"width":179,"height":10}},{"id":"1042696f-37c4-462f-a1c7-dc368b082916","block_type":"box","text":"Accumulation Units (%)","page_number":191,"box":{"x":83,"y":659,"width":156,"height":10}},{"id":"6e87df6a-b607-467a-9aca-f7987702c389","block_type":"box","text":"N/A","page_number":191,"box":{"x":282,"y":647,"width":24,"height":8}},{"id":"2409159f-2b1a-4f02-b1a7-9e0aea0ecf65","block_type":"box","text":"N/A","page_number":191,"box":{"x":396,"y":647,"width":23,"height":8}},{"id":"ffb3e582-27ac-4db3-ab99-511c7e6af054","block_type":"box","text":"N/A","page_number":191,"box":{"x":509,"y":647,"width":24,"height":8}},{"id":"1a98878d-9462-436f-8617-065f5dc8b4cc","block_type":"box","text":"13.3","page_number":191,"box":{"x":622,"y":647,"width":28,"height":8}},{"id":"5229dccb-4085-4f6d-9d9b-d6b9faa2f46d","block_type":"box","text":"5.7","page_number":191,"box":{"x":743,"y":647,"width":21,"height":8}},{"id":"4beca0c4-e495-46d5-9148-2e352be68d8f","block_type":"box","text":"Insured Pension","page_number":191,"box":{"x":84,"y":684,"width":178,"height":8}},{"id":"24ec21bf-efa4-4f22-8e93-d05f22b36183","block_type":"box","text":"Accumulation Units (%)","page_number":191,"box":{"x":83,"y":696,"width":156,"height":10}},{"id":"9ca2feec-f17b-4a81-bc2c-d69eb856c9a9","block_type":"box","text":"N/A","page_number":191,"box":{"x":282,"y":684,"width":24,"height":8}},{"id":"11193631-e523-4dfd-b13b-1a4578fff430","block_type":"box","text":"N/A","page_number":191,"box":{"x":396,"y":684,"width":23,"height":8}},{"id":"829e2f0a-06c9-4e8a-964d-ce2a30d62941","block_type":"box","text":"N/A","page_number":191,"box":{"x":509,"y":684,"width":24,"height":8}},{"id":"2d54c789-f336-4352-85c3-6e3eb8d78013","block_type":"box","text":"13.2","page_number":191,"box":{"x":622,"y":684,"width":28,"height":8}},{"id":"7f5d11e3-270d-4bf0-9089-95d8217e9fb2","block_type":"box","text":"5.8","page_number":191,"box":{"x":743,"y":684,"width":21,"height":8}},{"id":"07e53b2f-996a-4480-a0e4-135a559b52fc","block_type":"box","text":"UK Fund of Fund","page_number":191,"box":{"x":84,"y":721,"width":178,"height":8}},{"id":"2ea6a898-a39a-4159-883c-633f1eac7512","block_type":"box","text":"Accumulation Units (%)","page_number":191,"box":{"x":83,"y":733,"width":156,"height":10}},{"id":"f87b3052-d903-4bc2-8cdd-787155319248","block_type":"box","text":"Index - FTSE® World","page_number":191,"box":{"x":84,"y":761,"width":181,"height":8}},{"id":"dd3c5b11-275a-40cd-8fc5-a27fb9a373d3","block_type":"box","text":"Europe (ex UK) Index","page_number":191,"box":{"x":84,"y":773,"width":145,"height":10}},{"id":"5e2e107c-6e20-428b-a52c-30d6fe8c417d","block_type":"box","text":"N/A","page_number":191,"box":{"x":282,"y":761,"width":24,"height":8}},{"id":"94223dd5-ee6f-48e1-a3f5-7bb3a8d16f0c","block_type":"box","text":"N/A","page_number":191,"box":{"x":396,"y":761,"width":23,"height":8}},{"id":"e61c0e48-2b98-4ae2-ba51-fb4ea3f8bd0a","block_type":"box","text":"N/A","page_number":191,"box":{"x":509,"y":761,"width":24,"height":8}},{"id":"06ba1988-7efa-4018-9adc-7c91dfc79627","block_type":"box","text":"17.4","page_number":191,"box":{"x":624,"y":761,"width":27,"height":8}},{"id":"ee59651c-2043-4de5-905c-addaef5cd1fa","block_type":"box","text":"14.2","page_number":191,"box":{"x":746,"y":761,"width":27,"height":8}},{"id":"156a53bc-2014-48c1-be44-2883711b6421","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":192,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"d4731308-6cfe-4341-a977-6b4de9c32fac","block_type":"box","text":"192","page_number":192,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"4e4490e7-d367-428b-a3a4-04c836298c4b","block_type":"box","text":"Aviva Investors: Confidential","page_number":192,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"e7674068-bd8d-4bc0-8a93-0d37430cf426","block_type":"box","text":"AI UK Listed Equity ex Tobacco Fund","page_number":192,"box":{"x":62,"y":53,"width":297,"height":11}},{"id":"ff1aa04e-26a8-48b2-8449-ce8d989b3f2f","block_type":"box","text":"FCA product reference number: 809626","page_number":192,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"73e250d1-abe4-4d48-bf34-3353e90f649e","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":192,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"c62270b7-c72e-4e73-9dae-3f3753a0251c","block_type":"box","text":"was authorised by the FCA on 11 May 2018.","page_number":192,"box":{"x":62,"y":125,"width":329,"height":11}},{"id":"cf956f27-8565-4e44-acf1-23673b822ed8","block_type":"box","text":"Investment Objective and Policy","page_number":192,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"1f63a553-3045-4e0f-85da-2f4781703850","block_type":"box","text":"The Sub-Fund aims to grow your investment over the long term (5 years or more) by investing in shares of UK","page_number":192,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"76cb1382-a637-4bb9-9c0c-7173e4810501","block_type":"box","text":"companies other than tobacco manufacturers.","page_number":192,"box":{"x":62,"y":197,"width":340,"height":11}},{"id":"d014bca5-8441-4238-86b8-66d6b743028a","block_type":"box","text":"Core investment:","page_number":192,"box":{"x":62,"y":217,"width":135,"height":9}},{"id":"3158b58d-0309-427f-a8fb-8f33b8222507","block_type":"box","text":"At least 80% of the Fund will be invested in shares of UK companies (incorporated or domiciled in the UK), or non UK","page_number":192,"box":{"x":62,"y":237,"width":862,"height":11}},{"id":"7d934985-faeb-4bf8-8a63-a0a07b5b88d4","block_type":"box","text":"companies which are listed in the UK or which have significant trading activities in the UK.","page_number":192,"box":{"x":62,"y":250,"width":665,"height":11}},{"id":"66718feb-d55f-4880-8bd2-8980edf6c058","block_type":"box","text":"Other investments:","page_number":192,"box":{"x":62,"y":270,"width":151,"height":9}},{"id":"e45bfb17-bdb1-4f7c-b67c-0f7cfc016c43","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by the Investment Manager","page_number":192,"box":{"x":62,"y":289,"width":861,"height":12}},{"id":"0ff1ec6a-91f2-4f2e-8cb7-2f072b90a4de","block_type":"box","text":"and other Aviva Group entities), cash and deposits.","page_number":192,"box":{"x":62,"y":303,"width":379,"height":11}},{"id":"f1b585eb-c05a-46db-9a20-94ba9d2f10de","block_type":"box","text":"Derivatives, such as futures, may be used from time to time, to gain a particular market exposure which would","page_number":192,"box":{"x":63,"y":323,"width":860,"height":11}},{"id":"4af0330c-2014-4b0b-b58d-cca7a2afa5f2","block_type":"box","text":"otherwise be difficult or costly to achieve, or to manage the Sub-Fund’s cash flows in a cost-effective manner.","page_number":192,"box":{"x":62,"y":336,"width":860,"height":12}},{"id":"b14ff4ef-4b34-47e5-9ba7-bd8cc38c4fc3","block_type":"box","text":"Derivatives may also be used to reduce risk, such as foreign currency risk within the Sub-Fund, which is hedged using","page_number":192,"box":{"x":63,"y":350,"width":859,"height":11}},{"id":"0bd6adb8-b29a-41a6-94f0-21afe229ed2b","block_type":"box","text":"Forward Foreign Exchange contracts. This type of derivative usage is called “efficient portfolio management”.","page_number":192,"box":{"x":63,"y":364,"width":806,"height":11}},{"id":"517c3eba-c714-412d-aa1c-192d6719cf42","block_type":"box","text":"Strategy:","page_number":192,"box":{"x":62,"y":383,"width":70,"height":11}},{"id":"e702286c-a5b7-42d9-b7d5-865c3957c000","block_type":"box","text":"The Sub-Fund is actively managed, and the Investment Manager aims to achieve the Sub-Fund’s objective by","page_number":192,"box":{"x":62,"y":403,"width":861,"height":11}},{"id":"f159c9da-512c-4991-9373-b83172aec39c","block_type":"box","text":"identifying undervalued businesses that demonstrate balance sheet strength, pricing power and robust business","page_number":192,"box":{"x":62,"y":416,"width":861,"height":12}},{"id":"ca6a5479-5c0f-47df-8d90-211e5ede15a3","block_type":"box","text":"models that will see the shares outperform over the long term.","page_number":192,"box":{"x":62,"y":430,"width":458,"height":11}},{"id":"cbfd64a7-3189-4d3f-9f5b-6ed7c7cee8f1","block_type":"box","text":"In addition to excluding tobacco manufacturers from both the core and other investments, the Sub-Fund is subject to","page_number":192,"box":{"x":63,"y":450,"width":860,"height":11}},{"id":"f236f00d-1cfd-4902-8daa-67d1f5588dd6","block_type":"box","text":"Aviva Investors’ baseline exclusion policy –","page_number":192,"box":{"x":62,"y":464,"width":323,"height":11}},{"id":"2f428a24-a0f7-4e68-b8d2-5c305d34f218","block_type":"box","text":"please see Appendix 2 for information on these limited investment","page_number":192,"box":{"x":391,"y":464,"width":532,"height":11}},{"id":"57165652-f05c-408c-a610-6a67349cf74d","block_type":"box","text":"restrictions.","page_number":192,"box":{"x":62,"y":477,"width":94,"height":9}},{"id":"865b6d05-be9b-4a24-bf42-bec2f2824fb4","block_type":"box","text":"Performance & Risk Measurement:","page_number":192,"box":{"x":63,"y":497,"width":275,"height":9}},{"id":"965fd3b3-f70e-408f-97ed-43beecb68cf9","block_type":"box","text":"The Sub-Fund’s performance is compared against the FTSE® All Share ex Tobacco Total Return Index","page_number":192,"box":{"x":62,"y":516,"width":757,"height":12}},{"id":"2ebcc960-9ed2-4641-9046-dec3f37cc4ac","block_type":"box","text":"†","page_number":192,"box":{"x":820,"y":517,"width":4,"height":6}},{"id":"fdac9771-3ee9-470c-b707-460aac830f76","block_type":"box","text":"(the “Index”).","page_number":192,"box":{"x":829,"y":516,"width":93,"height":11}},{"id":"aaf011ac-59b4-47a5-b353-e3bc3d1dca5f","block_type":"box","text":"The Sub-Fund does not base its investment process upon the Index, so will not hold every company in the Index and","page_number":192,"box":{"x":62,"y":536,"width":860,"height":11}},{"id":"3e56375e-2b7c-4e29-9983-668f1627bfdd","block_type":"box","text":"may also hold companies that do not form part of it. The Sub-Fund will not invest in shares of companies within the","page_number":192,"box":{"x":62,"y":549,"width":861,"height":12}},{"id":"fa49ec24-754f-4e44-aa6f-df0462231de9","block_type":"box","text":"Aviva Group.","page_number":192,"box":{"x":62,"y":563,"width":95,"height":11}},{"id":"88a30862-a009-4efd-974a-2ac4df51605b","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency of the Sub-Fund's returns and the returns of the","page_number":192,"box":{"x":62,"y":583,"width":861,"height":11}},{"id":"fc8303cf-5dfb-48b0-b2f9-f613f2da667f","block_type":"box","text":"Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":192,"box":{"x":63,"y":596,"width":859,"height":12}},{"id":"db72a00d-8afc-4470-892d-1b0913db9d44","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 1% and 3% when","page_number":192,"box":{"x":62,"y":610,"width":860,"height":11}},{"id":"1d9242e6-c40c-4fe3-9e91-c42246fdc20e","block_type":"box","text":"compared to the Index. In certain conditions the Sub-Fund may be outside of this range.","page_number":192,"box":{"x":62,"y":624,"width":650,"height":11}},{"id":"947d0c6d-191c-405e-a73c-f1fd5ce6d39c","block_type":"box","text":"The Index represents the performance of all eligible companies listed on the London Stock Exchange, excluding","page_number":192,"box":{"x":62,"y":643,"width":860,"height":12}},{"id":"ff89d9e6-9576-414a-b4bf-b7197d8501b6","block_type":"box","text":"companies classified as ‘Tobacco’ under industry benchmark classifications.","page_number":192,"box":{"x":62,"y":657,"width":564,"height":11}},{"id":"f58e3fcc-b9f7-459e-8a79-0f1018a0c195","block_type":"box","text":"The Index has been selected as a benchmark for performance and risk measurement because it is representative of","page_number":192,"box":{"x":62,"y":677,"width":861,"height":11}},{"id":"cdef7dd3-63ca-4aa1-a93d-b2fc9b031845","block_type":"box","text":"the type of companies in which the Sub-Fund is likely to invest, and it is therefore an appropriate comparator for the","page_number":192,"box":{"x":62,"y":690,"width":861,"height":11}},{"id":"76c862ed-ccf0-4679-b4bd-c550d390cab3","block_type":"box","text":"Sub-Fund’s performance.","page_number":192,"box":{"x":62,"y":704,"width":187,"height":11}},{"id":"da72a6e2-6059-46c5-a826-375b8dc4b2ef","block_type":"box","text":"†","page_number":192,"box":{"x":62,"y":722,"width":4,"height":5}},{"id":"6e1cd97f-6993-424d-846e-3c626b1568d7","block_type":"box","text":"The AI UK Equity ex Tobacco Fund (the “Sub-Fund”) has been developed solely by Aviva Investors UK Fund Services Limited. The Sub-Fund is","page_number":192,"box":{"x":70,"y":723,"width":853,"height":9}},{"id":"2cc7d778-75d9-45bb-9b14-eb31de6e143e","block_type":"box","text":"not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings","page_number":192,"box":{"x":62,"y":734,"width":861,"height":9}},{"id":"8af2372f-cec9-4161-acd9-24fa999eea09","block_type":"box","text":"(collectively, the “LSE Group”). FTSE Russell is a trading name of certain of the LSE Group companies.","page_number":192,"box":{"x":62,"y":745,"width":613,"height":9}},{"id":"efb1c59e-1aa1-4070-a611-9abcc1b2b5c2","block_type":"box","text":"All rights in the FTSE All Share ex Tobacco Total Return Index (the “Index”) vest in the relevant LSE Group company which owns the Index.","page_number":192,"box":{"x":62,"y":762,"width":860,"height":9}},{"id":"648571cf-b2f5-407c-84f0-09f3c2780a6a","block_type":"box","text":"“FTSE®” is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under licence.","page_number":192,"box":{"x":62,"y":773,"width":728,"height":9}},{"id":"de2568c7-bfeb-4c3c-9e52-f4af7745f7bf","block_type":"box","text":"The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability","page_number":192,"box":{"x":62,"y":789,"width":862,"height":10}},{"id":"4edb848e-e36d-4529-8309-923d3b31da90","block_type":"box","text":"whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Sub-Fund. The","page_number":192,"box":{"x":62,"y":800,"width":861,"height":10}},{"id":"79552256-b1b6-43aa-9cb1-6debc5141d11","block_type":"box","text":"LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Sub-Fund or the suitability of the","page_number":192,"box":{"x":62,"y":811,"width":861,"height":9}},{"id":"53d50c8d-d5f3-469c-9123-521dfa60a1e9","block_type":"box","text":"Index for the purpose to which it is being put by Aviva Investors UK Fund Services Limited.","page_number":192,"box":{"x":63,"y":822,"width":536,"height":9}},{"id":"8a7ed82f-e66d-4f78-911b-58da69dcf13e","block_type":"box","text":"Additional Information","page_number":192,"box":{"x":62,"y":859,"width":177,"height":9}},{"id":"c7f9f056-e6bf-4974-9a99-3051c0d2aeea","block_type":"box","text":"Investment Manager","page_number":192,"box":{"x":118,"y":886,"width":151,"height":11}},{"id":"9ded4552-28c5-4d8a-b4d0-c27e5aae7378","block_type":"box","text":"Schroder Investment Management Limited","page_number":192,"box":{"x":353,"y":885,"width":315,"height":12}},{"id":"7c750f6b-6f7a-4387-ba66-15cbce5b2b4b","block_type":"box","text":"Type of Units","page_number":192,"box":{"x":116,"y":912,"width":98,"height":11}},{"id":"46abf3f6-6489-4da4-b626-2d94298ab058","block_type":"box","text":"UK Corporate Income Distribution Units","page_number":192,"box":{"x":353,"y":911,"width":292,"height":12}},{"id":"4b3b877d-256d-499f-8ba9-eaa65b621477","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":193,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"40d606b5-76e1-40d0-bfc2-db3b1ec6e4b8","block_type":"box","text":"193","page_number":193,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"bb6ab34c-a0fc-4226-bfe2-4325bfca1b4e","block_type":"box","text":"Aviva Investors: Confidential","page_number":193,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"15f1b1b6-98fe-4e1d-941b-90f6aea1821b","block_type":"box","text":"UK Corporate Accumulation Units","page_number":193,"box":{"x":353,"y":59,"width":250,"height":11}},{"id":"586b2d82-23ec-4f04-8597-2e0612943805","block_type":"box","text":"UK Institutional Accumulation Units","page_number":193,"box":{"x":353,"y":85,"width":260,"height":9}},{"id":"2250d44b-d4ce-482a-80b5-a30bcb4f5311","block_type":"box","text":"Dealing Day","page_number":193,"box":{"x":118,"y":111,"width":89,"height":12}},{"id":"1ba7a0cc-d5fa-4c68-a392-f4c45ac4ee59","block_type":"box","text":"Each Business Day between 8.30 a.m. and 5.30 p.m.","page_number":193,"box":{"x":354,"y":111,"width":393,"height":11}},{"id":"41c622ed-dd37-4408-913d-b0b9fcc79abb","block_type":"box","text":"Deal Cut-Off Point","page_number":193,"box":{"x":118,"y":137,"width":134,"height":9}},{"id":"84428b4c-0af7-45dd-8a57-da3152061d36","block_type":"box","text":"2.00 p.m.","page_number":193,"box":{"x":353,"y":138,"width":67,"height":11}},{"id":"09be730f-d19a-4d4e-8a29-9890e5b8ce13","block_type":"box","text":"Valuation Point","page_number":193,"box":{"x":117,"y":164,"width":112,"height":8}},{"id":"dc571a9a-8b29-499a-8bbd-ecf41fc5342e","block_type":"box","text":"3.00 p.m.","page_number":193,"box":{"x":353,"y":164,"width":67,"height":11}},{"id":"03ea0b89-4d7f-4b99-a9ba-c1b01105efae","block_type":"box","text":"*Minimum Investment","page_number":193,"box":{"x":117,"y":190,"width":172,"height":8}},{"id":"c0ac9e3d-40d9-4ca3-983b-15a85b5f8d65","block_type":"box","text":"UK Corporate Income","page_number":193,"box":{"x":118,"y":216,"width":160,"height":11}},{"id":"a3f1a219-f522-4634-a095-c17871f2ffb7","block_type":"box","text":"Distribution Units, UK","page_number":193,"box":{"x":118,"y":230,"width":158,"height":10}},{"id":"9ece3133-a20d-48b9-924a-7e25fedb6e2a","block_type":"box","text":"Corporate Accumulation","page_number":193,"box":{"x":117,"y":243,"width":178,"height":11}},{"id":"9ba3befa-9740-4d61-9025-f92b7b448397","block_type":"box","text":"Units, UK Institutional","page_number":193,"box":{"x":118,"y":257,"width":158,"height":10}},{"id":"62aa4a78-1008-4074-b044-26238a5a55d7","block_type":"box","text":"Accumulation Units","page_number":193,"box":{"x":116,"y":271,"width":143,"height":8}},{"id":"c60627ad-bc2e-4b61-86e1-f7a4fcdc5c09","block_type":"box","text":"No minimum","page_number":193,"box":{"x":353,"y":216,"width":92,"height":9}},{"id":"d6411c0f-119d-4141-93d6-cac88bdcd1be","block_type":"box","text":"Minimum withdrawal","page_number":193,"box":{"x":117,"y":297,"width":150,"height":8}},{"id":"125b2698-b297-41f4-8791-7f3e12f1b32c","block_type":"box","text":"No minimum","page_number":193,"box":{"x":353,"y":297,"width":92,"height":8}},{"id":"6f2da4c0-e9b6-4e53-aa2a-67aa79f1ea50","block_type":"box","text":"Tax Criteria for investment","page_number":193,"box":{"x":116,"y":323,"width":213,"height":9}},{"id":"1e65a2f2-82c1-4ce2-9801-b44a65560bb6","block_type":"box","text":"UK Corporate Income","page_number":193,"box":{"x":118,"y":349,"width":160,"height":11}},{"id":"720f2b7f-43e3-459a-9e01-52d3c0475209","block_type":"box","text":"Distribution Units, UK","page_number":193,"box":{"x":118,"y":363,"width":158,"height":10}},{"id":"11bfd952-18ba-4b04-bd13-0cf8d220329c","block_type":"box","text":"Corporate Accumulation","page_number":193,"box":{"x":117,"y":376,"width":178,"height":11}},{"id":"80efb9f0-e1be-40c4-8696-40a828bbf4a0","block_type":"box","text":"Units","page_number":193,"box":{"x":118,"y":390,"width":36,"height":9}},{"id":"c3dc414e-323d-4d50-b22c-f290a41892c4","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":193,"box":{"x":352,"y":349,"width":404,"height":11}},{"id":"7c39c5d4-9ebb-44cf-9419-f01cc16ee887","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":193,"box":{"x":353,"y":362,"width":404,"height":11}},{"id":"e1261087-28e6-4f5f-b6dd-e3fb89390c89","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":193,"box":{"x":352,"y":376,"width":405,"height":11}},{"id":"4c7ef623-5612-48b0-92c6-fb9f73ea11c0","block_type":"box","text":"linked pension business contracts.","page_number":193,"box":{"x":353,"y":390,"width":253,"height":11}},{"id":"811aa9fb-02f6-4101-82d9-bdf8b7f2f2e6","block_type":"box","text":"UK Institutional","page_number":193,"box":{"x":118,"y":416,"width":110,"height":9}},{"id":"17db7a1d-3e39-433e-b0cd-dd1791102ccb","block_type":"box","text":"Accumulation Units","page_number":193,"box":{"x":116,"y":430,"width":143,"height":8}},{"id":"783fad57-cd2f-4d55-93a7-72694abf3f25","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":193,"box":{"x":352,"y":416,"width":404,"height":11}},{"id":"95d25656-4fe8-46e2-8f40-090d9755b97b","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":193,"box":{"x":353,"y":430,"width":403,"height":11}},{"id":"ce203221-004d-407b-b041-7dc8d44738b9","block_type":"box","text":"tax treaties.","page_number":193,"box":{"x":352,"y":443,"width":85,"height":9}},{"id":"3aa99f1c-18bf-420c-ad95-340ceea81f6d","block_type":"box","text":"**Current Charges:","page_number":193,"box":{"x":117,"y":475,"width":149,"height":11}},{"id":"4eb4847c-f99d-4dde-b359-cafe623d6782","block_type":"box","text":"UK Corporate Income","page_number":193,"box":{"x":118,"y":501,"width":160,"height":11}},{"id":"013062ea-8f5a-441a-b404-829d03429402","block_type":"box","text":"Distribution Units, UK","page_number":193,"box":{"x":118,"y":515,"width":158,"height":10}},{"id":"48f25697-c494-4e37-ae77-e1d1c427e3de","block_type":"box","text":"Corporate Accumulation","page_number":193,"box":{"x":117,"y":529,"width":178,"height":11}},{"id":"5d8af865-5f71-4e4c-9be9-591c4be7e698","block_type":"box","text":"Units, UK Institutional","page_number":193,"box":{"x":118,"y":543,"width":158,"height":10}},{"id":"e2015be3-344e-4713-9252-a4772a1218f9","block_type":"box","text":"Accumulation Units","page_number":193,"box":{"x":116,"y":556,"width":143,"height":9}},{"id":"4f479284-cb72-490f-b79e-d11d74fb9e25","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":193,"box":{"x":352,"y":501,"width":404,"height":12}},{"id":"563813b2-1342-4a93-b763-a4a705d815ce","block_type":"box","text":"Unitholder","page_number":193,"box":{"x":353,"y":515,"width":75,"height":9}},{"id":"ebb7c53f-65f5-45db-bb5b-9d59b0cfc3a9","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":193,"box":{"x":352,"y":535,"width":404,"height":11}},{"id":"d07f380a-bbec-4427-9a22-d6edda430794","block_type":"box","text":"property","page_number":193,"box":{"x":353,"y":549,"width":60,"height":10}},{"id":"ae362c89-f3ad-47f4-81a8-bbf6203d561b","block_type":"box","text":"Accounting Dates","page_number":193,"box":{"x":117,"y":594,"width":141,"height":11}},{"id":"9e73410f-d658-4bfe-9562-d8c3847efafe","block_type":"box","text":"Annual Accounting Date","page_number":193,"box":{"x":116,"y":620,"width":180,"height":11}},{"id":"5f85fc03-dcd7-4e5d-882a-34131c533713","block_type":"box","text":"31 December","page_number":193,"box":{"x":353,"y":620,"width":100,"height":9}},{"id":"3e54bae0-5b81-4311-ae92-892380f7740c","block_type":"box","text":"First Accounting Date","page_number":193,"box":{"x":118,"y":646,"width":158,"height":12}},{"id":"ce5ba71f-7a12-4928-9e71-760cb2b509c9","block_type":"box","text":"31 December 2018","page_number":193,"box":{"x":353,"y":646,"width":141,"height":9}},{"id":"70735d97-1ed2-46b6-be41-4741d7a00606","block_type":"box","text":"Annual Income Allocation","page_number":193,"box":{"x":116,"y":673,"width":188,"height":8}},{"id":"411bbc02-3ff7-4f52-8185-eb386360ae8e","block_type":"box","text":"Date","page_number":193,"box":{"x":118,"y":686,"width":33,"height":9}},{"id":"39e34c07-3d8a-4cfb-a741-bd9b10da37ab","block_type":"box","text":"On or before 28 /29 February","page_number":193,"box":{"x":353,"y":672,"width":217,"height":12}},{"id":"abef1efe-6385-45d6-8084-6b3cd2881b69","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":193,"box":{"x":118,"y":712,"width":293,"height":12}},{"id":"2b476f69-b270-49e7-8ece-6d09ccd0acf9","block_type":"box","text":"The annual report for the Sub-Fund will be made available by 30 April each year and the half-yearly report by 31","page_number":193,"box":{"x":62,"y":764,"width":858,"height":11}},{"id":"862c7f57-7df8-44bd-8021-545fc2659819","block_type":"box","text":"August each year.","page_number":193,"box":{"x":62,"y":778,"width":133,"height":11}},{"id":"faeeab19-a659-4450-8a8b-2b789d756372","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":193,"box":{"x":62,"y":798,"width":642,"height":11}},{"id":"c08382a1-2b77-4128-892b-99875a1260bc","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":193,"box":{"x":62,"y":817,"width":860,"height":12}},{"id":"fddd9064-045c-4e6e-b239-62b11f7184af","block_type":"box","text":"this Prospectus.","page_number":193,"box":{"x":62,"y":831,"width":117,"height":11}},{"id":"828de48e-c9bf-433a-80d2-ad3828a36fb2","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":194,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"ca7d3a3f-7a5f-4c73-b32c-931d0ff573ba","block_type":"box","text":"194","page_number":194,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"617d9afc-cc43-48f6-982c-dcaa38654534","block_type":"box","text":"Aviva Investors: Confidential","page_number":194,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"36d2b527-ea81-42e9-a032-39b3465b8212","block_type":"box","text":"Securities Financing and other Transactions:","page_number":194,"box":{"x":62,"y":53,"width":358,"height":11}},{"id":"5b954a75-2460-4c37-9a55-a12b13ae9ad7","block_type":"box","text":"The types of assets which may be subject to securities lending or repo transactions will be limited to the financial","page_number":194,"box":{"x":62,"y":72,"width":860,"height":11}},{"id":"33c9e43c-ab7f-48ee-8bf5-cb2f15355ec2","block_type":"box","text":"instruments permitted by the Sub-Fund’s investment policy.","page_number":194,"box":{"x":62,"y":86,"width":438,"height":11}},{"id":"aefb0b2b-6373-4c7c-89ba-5417c6a75ff2","block_type":"box","text":"The maximum proportion of the assets of the Sub-Fund which may be subject to securities lending or repo","page_number":194,"box":{"x":62,"y":125,"width":787,"height":11}},{"id":"6febceed-f773-478e-adc2-71b63db4046d","block_type":"box","text":"transactions is as follows:","page_number":194,"box":{"x":62,"y":141,"width":188,"height":8}},{"id":"2ec9a112-e21c-492d-ad56-5655ee4bb970","block_type":"box","text":"Securities Lending","page_number":194,"box":{"x":72,"y":177,"width":125,"height":11}},{"id":"0e467c02-6597-4621-813d-6a81278e040c","block_type":"box","text":"50%","page_number":194,"box":{"x":460,"y":177,"width":28,"height":9}},{"id":"bc617f76-b29d-491a-8931-91bd9a8a609f","block_type":"box","text":"Repo Transactions","page_number":194,"box":{"x":71,"y":199,"width":125,"height":11}},{"id":"b57b703c-39b4-4d4a-85b5-a18f246daa02","block_type":"box","text":"50%","page_number":194,"box":{"x":460,"y":199,"width":28,"height":9}},{"id":"65cf61c0-d4d9-427f-a2de-a382e4cd8b1d","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":194,"box":{"x":62,"y":240,"width":823,"height":12}},{"id":"191cd0c5-6d9c-4dfb-89e9-2c0a905bbe31","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to securities lending or repo","page_number":194,"box":{"x":62,"y":256,"width":823,"height":11}},{"id":"8728297d-b1f6-42ac-9974-b4396a99d3d9","block_type":"box","text":"transactions is as follows:","page_number":194,"box":{"x":62,"y":272,"width":188,"height":9}},{"id":"e561ad2c-0aa5-4716-b59f-6d72490c6f70","block_type":"box","text":"Securities Lending","page_number":194,"box":{"x":72,"y":308,"width":125,"height":11}},{"id":"a97d7772-0276-4fe2-ba0f-4957f7dd0010","block_type":"box","text":"15","page_number":194,"box":{"x":461,"y":308,"width":14,"height":8}},{"id":"892f05b4-eefc-45ed-b6ef-d142454160be","block_type":"box","text":"%","page_number":194,"box":{"x":477,"y":309,"width":11,"height":8}},{"id":"d7f6c7e4-06ec-4e10-ae1d-7d549eedff24","block_type":"box","text":"Repo Transactions","page_number":194,"box":{"x":71,"y":330,"width":125,"height":11}},{"id":"063966b0-15b1-4899-9e9d-ccd4df0b47eb","block_type":"box","text":"7.5%","page_number":194,"box":{"x":459,"y":330,"width":33,"height":9}},{"id":"e5ec68bb-dc81-4410-bea1-e4947d8fa3f3","block_type":"box","text":"The expected proportion of AUM subject to securities lending or repo transactions is indicative only and, depending","page_number":194,"box":{"x":62,"y":389,"width":860,"height":11}},{"id":"e3a98492-1ab0-4175-8b00-3814c6dc8166","block_type":"box","text":"on market conditions and the strategies employed, the actual exposure may be outside of that range at any given","page_number":194,"box":{"x":62,"y":403,"width":860,"height":11}},{"id":"651c0a0f-e5c2-453e-8a45-dea3972a14ef","block_type":"box","text":"point in time. There may be times when there the proportion of AUM subject to securities lending or repo transactions","page_number":194,"box":{"x":62,"y":416,"width":861,"height":12}},{"id":"ba9f0947-419c-4d12-bf68-56659226ec16","block_type":"box","text":"is zero.","page_number":194,"box":{"x":62,"y":430,"width":52,"height":9}},{"id":"979121fb-0e57-48cd-9c52-d77ed1d1b9be","block_type":"box","text":"The Sub-Fund does not use TRS.","page_number":194,"box":{"x":62,"y":489,"width":249,"height":9}},{"id":"638e8ed8-864e-4f80-b233-271af3b4e0ab","block_type":"box","text":"Leverage","page_number":194,"box":{"x":63,"y":528,"width":72,"height":11}},{"id":"b9d2ac76-cc83-41e6-96e5-41bd185abc85","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":194,"box":{"x":63,"y":548,"width":860,"height":11}},{"id":"756e5272-c1d3-4fdb-a6c8-f82e8b42fea6","block_type":"box","text":"management.","page_number":194,"box":{"x":62,"y":562,"width":101,"height":10}},{"id":"d514ecda-547f-4650-b537-fbcbdbe594d5","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":194,"box":{"x":62,"y":594,"width":860,"height":12}},{"id":"269e4c07-2fe7-44dc-90eb-53697200da9d","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":194,"box":{"x":62,"y":608,"width":649,"height":11}},{"id":"56387d34-b9d4-43db-9849-3d2c63da85bd","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":194,"box":{"x":62,"y":635,"width":755,"height":12}},{"id":"36388d87-b44b-43bd-bf71-4c15cb696539","block_type":"box","text":"Permitted derivatives","page_number":194,"box":{"x":72,"y":665,"width":168,"height":9}},{"id":"76f392a1-3654-448f-b9db-914c13190c1f","block_type":"box","text":"Permitted?","page_number":194,"box":{"x":383,"y":665,"width":85,"height":9}},{"id":"cab24666-c81f-4564-8531-565ad50d1e4c","block_type":"box","text":"Prohibited?","page_number":194,"box":{"x":489,"y":665,"width":91,"height":9}},{"id":"8e167859-baab-458b-958c-fb3c513b93b3","block_type":"box","text":"Equity index futures","page_number":194,"box":{"x":72,"y":686,"width":146,"height":11}},{"id":"c1d1277c-e580-4535-935d-fcbc1f66aee0","block_type":"box","text":"√","page_number":194,"box":{"x":421,"y":686,"width":8,"height":8}},{"id":"c06f858e-b154-4b98-bf35-8a878e8dcb80","block_type":"box","text":"Government bond futures","page_number":194,"box":{"x":72,"y":704,"width":188,"height":9}},{"id":"b32a1d87-9a22-4fc9-b665-6741dce3c588","block_type":"box","text":"√","page_number":194,"box":{"x":530,"y":705,"width":8,"height":7}},{"id":"08067775-4d93-4c46-a874-bac9e4e8aac0","block_type":"box","text":"Equity index options","page_number":194,"box":{"x":72,"y":723,"width":148,"height":11}},{"id":"2024210d-9605-4e06-9557-31b1a059e84e","block_type":"box","text":"√","page_number":194,"box":{"x":421,"y":723,"width":8,"height":8}},{"id":"576016b7-cf04-41a3-9b9c-dce6ec27d3aa","block_type":"box","text":"Forward foreign exchange","page_number":194,"box":{"x":72,"y":741,"width":193,"height":11}},{"id":"0c793b21-01c0-4f9c-8322-a9413032b60f","block_type":"box","text":"√","page_number":194,"box":{"x":530,"y":741,"width":8,"height":8}},{"id":"cc44ba77-55b0-4358-85ce-5247bb5bf18b","block_type":"box","text":"Index credit default swaps","page_number":194,"box":{"x":72,"y":759,"width":192,"height":12}},{"id":"3b5616b3-cdd4-4c1f-b24a-947ab4299337","block_type":"box","text":"√","page_number":194,"box":{"x":530,"y":760,"width":8,"height":8}},{"id":"0bef52a6-e0a1-45d4-9ce7-3e2ed9b3ae48","block_type":"box","text":"Interest rate swaps","page_number":194,"box":{"x":72,"y":778,"width":140,"height":11}},{"id":"3a823ed9-6726-48fc-bc3e-3448bf82c574","block_type":"box","text":"√","page_number":194,"box":{"x":530,"y":778,"width":8,"height":8}},{"id":"8843d245-2691-4041-985e-d711af229228","block_type":"box","text":"OTC equity options","page_number":194,"box":{"x":72,"y":796,"width":142,"height":12}},{"id":"b851930d-4195-4925-99d5-5ca39708397e","block_type":"box","text":"√","page_number":194,"box":{"x":421,"y":797,"width":8,"height":7}},{"id":"59a20681-658d-472f-8df1-1025c222c5c8","block_type":"box","text":"Inflation swaps","page_number":194,"box":{"x":72,"y":815,"width":109,"height":11}},{"id":"fb00d8d5-078b-4cdf-9ede-40b550889ccc","block_type":"box","text":"√","page_number":194,"box":{"x":530,"y":815,"width":8,"height":8}},{"id":"6446e560-b6df-4593-952c-124cbcbb21ce","block_type":"box","text":"Cross currency swaps","page_number":194,"box":{"x":72,"y":833,"width":163,"height":11}},{"id":"d4067029-e8e7-48e8-9e71-42d71cc90700","block_type":"box","text":"√","page_number":194,"box":{"x":530,"y":834,"width":8,"height":7}},{"id":"53ec40e4-2334-46fa-bbc1-b938f518d1c6","block_type":"box","text":"Other","page_number":194,"box":{"x":72,"y":851,"width":41,"height":9}},{"id":"16e8830b-e98a-4566-937e-53f37a6648c6","block_type":"box","text":"√","page_number":194,"box":{"x":530,"y":852,"width":8,"height":8}},{"id":"2b2dd54d-42cf-485f-96dc-8773797f8650","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":194,"box":{"x":63,"y":879,"width":860,"height":12}},{"id":"a6903cad-efbe-4373-b8b0-c33d06963362","block_type":"box","text":"2)","page_number":194,"box":{"x":62,"y":893,"width":13,"height":11}},{"id":"bc3d3e73-ffca-41bd-8f44-cf0f52d410d1","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":195,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"7bca81c1-7d51-49ac-83a4-9eb00fb84bba","block_type":"box","text":"195","page_number":195,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"6eda727a-9e92-4038-be79-879c4736fac8","block_type":"box","text":"Aviva Investors: Confidential","page_number":195,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"1292987e-4897-4b29-b27f-54b65d9606af","block_type":"box","text":"Leverage Limits","page_number":195,"box":{"x":63,"y":52,"width":128,"height":12}},{"id":"bdfd79cd-1978-4827-95d5-a1513a025acd","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":195,"box":{"x":200,"y":52,"width":722,"height":12}},{"id":"ce05280a-1492-4167-b836-e1c92b562269","block_type":"box","text":"Regime):","page_number":195,"box":{"x":63,"y":66,"width":65,"height":11}},{"id":"0c654d61-dadd-4150-9ec2-578b59e42bc8","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":195,"box":{"x":62,"y":93,"width":471,"height":12}},{"id":"602cd042-a2d0-4c0e-b74e-1643d93e1278","block_type":"box","text":"","page_number":195,"box":{"x":62,"y":125,"width":6,"height":4}},{"id":"240e36b3-92e8-4555-8bab-bce86408a4e1","block_type":"box","text":"Gross Method: Up to 1.0:1","page_number":195,"box":{"x":92,"y":122,"width":193,"height":11}},{"id":"233d251c-04b4-4b63-bcab-d6ace5349272","block_type":"box","text":"","page_number":195,"box":{"x":62,"y":141,"width":6,"height":5}},{"id":"0ab78342-f114-460b-b73f-432074ec208e","block_type":"box","text":"Commitment: Up to 1.0:1","page_number":195,"box":{"x":92,"y":138,"width":183,"height":11}},{"id":"e0b1c553-aa0f-452a-9c37-0199c0f17eb6","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":195,"box":{"x":62,"y":166,"width":860,"height":11}},{"id":"e4467e81-a060-48be-aaea-b591bdc3aef4","block_type":"box","text":"which case leverage will not exceed the following:","page_number":195,"box":{"x":62,"y":179,"width":368,"height":12}},{"id":"a439dff6-0a14-4712-8f33-ec94a36c1338","block_type":"box","text":"","page_number":195,"box":{"x":62,"y":211,"width":6,"height":4}},{"id":"ecfd1dbf-6969-41a3-ac99-1081f08ee568","block_type":"box","text":"Gross Method: Up to 1.5:1","page_number":195,"box":{"x":92,"y":207,"width":193,"height":12}},{"id":"beca4065-4a06-4b6c-919a-342972dcc740","block_type":"box","text":"","page_number":195,"box":{"x":62,"y":227,"width":6,"height":4}},{"id":"bdf05a51-00a1-4e07-a1ae-443da754fdb7","block_type":"box","text":"Commitment: Up to 1.2:1","page_number":195,"box":{"x":92,"y":224,"width":183,"height":11}},{"id":"5d117f14-7136-4cb4-99aa-dd9ba4c125be","block_type":"box","text":"Specific Risks","page_number":195,"box":{"x":62,"y":251,"width":113,"height":12}},{"id":"986e3075-ec06-4442-884a-9bb35e48e2c7","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":195,"box":{"x":181,"y":252,"width":462,"height":11}},{"id":"8b7e835d-9278-4b61-8548-02bfc0f9329f","block_type":"box","text":"","page_number":195,"box":{"x":62,"y":289,"width":6,"height":4}},{"id":"08286433-621e-4530-a66f-fa0a3a8d5eda","block_type":"box","text":"Smaller Companies","page_number":195,"box":{"x":92,"y":286,"width":145,"height":11}},{"id":"6a4486f8-35a9-499d-8191-f368c1bbecd0","block_type":"box","text":"","page_number":195,"box":{"x":62,"y":303,"width":6,"height":5}},{"id":"06e6acca-1d95-47f1-8201-f223f8c70ecb","block_type":"box","text":"Single Market","page_number":195,"box":{"x":92,"y":300,"width":102,"height":11}},{"id":"dd90e6cd-fbfb-4fcc-9c52-d19763111702","block_type":"box","text":"","page_number":195,"box":{"x":62,"y":318,"width":6,"height":4}},{"id":"9565cff1-0885-4d00-9b35-1c17b671dd3c","block_type":"box","text":"Equity Securities","page_number":195,"box":{"x":93,"y":314,"width":123,"height":12}},{"id":"08348105-a0b7-47c6-82e1-8aa2cb89f805","block_type":"box","text":"Past Performance – AI UK Listed Equity ex Tobacco Fund","page_number":195,"box":{"x":72,"y":348,"width":458,"height":12}},{"id":"e9434435-c5e6-4471-aa81-835fbc74b96b","block_type":"box","text":"% Growth","page_number":195,"box":{"x":71,"y":368,"width":77,"height":9}},{"id":"b7e3e232-7dd2-470e-9cf8-c5bea1efa4d4","block_type":"box","text":"1/1/2024 to","page_number":195,"box":{"x":290,"y":394,"width":94,"height":8}},{"id":"6c2971db-ae82-4c12-aa2d-58b670731385","block_type":"box","text":"31/12/2024","page_number":195,"box":{"x":289,"y":406,"width":75,"height":8}},{"id":"3e6e2e08-81ba-4d8e-b193-5ed30ddb360e","block_type":"box","text":"1/1/2023 to","page_number":195,"box":{"x":404,"y":394,"width":94,"height":8}},{"id":"f5b91ca7-bdef-42fb-b14f-c4d7a994565a","block_type":"box","text":"31/12/2023","page_number":195,"box":{"x":403,"y":406,"width":75,"height":8}},{"id":"3789a7e0-d387-4af5-b812-3fe9e8b3e261","block_type":"box","text":"1/1/2022 to","page_number":195,"box":{"x":517,"y":394,"width":94,"height":8}},{"id":"e97b63ca-2c6a-453c-8e72-3a68a24eee54","block_type":"box","text":"31/12/2022","page_number":195,"box":{"x":516,"y":406,"width":75,"height":8}},{"id":"fa72035b-f0b1-4285-a2a9-77f651f6735a","block_type":"box","text":"1/1/2021 to","page_number":195,"box":{"x":631,"y":394,"width":94,"height":8}},{"id":"447b886e-dfff-448b-8762-82b7704db1b0","block_type":"box","text":"31/12/2021","page_number":195,"box":{"x":630,"y":406,"width":73,"height":8}},{"id":"af5ee57c-5033-4e19-9f2a-6b15a3b35e7d","block_type":"box","text":"1/1/2020 to","page_number":195,"box":{"x":744,"y":394,"width":94,"height":8}},{"id":"1051b3b2-794e-47bc-aa87-c9286bad65fc","block_type":"box","text":"31/12/2020","page_number":195,"box":{"x":743,"y":406,"width":75,"height":8}},{"id":"b641a2eb-5851-4288-995f-e155e1a43148","block_type":"box","text":"UK Corporate Income","page_number":195,"box":{"x":72,"y":431,"width":198,"height":10}},{"id":"f9983ad9-8457-46f2-9b7a-bab7eec54e77","block_type":"box","text":"Distribution Units (%)","page_number":195,"box":{"x":72,"y":443,"width":140,"height":10}},{"id":"b53ef6f0-337e-4d66-8cd9-60d71d86916d","block_type":"box","text":"8.83","page_number":195,"box":{"x":290,"y":431,"width":28,"height":8}},{"id":"eb982ff0-b89a-4053-a8cd-7274562b745c","block_type":"box","text":"6.52","page_number":195,"box":{"x":403,"y":431,"width":28,"height":8}},{"id":"04841b81-afa7-4707-8777-ed832f7656f2","block_type":"box","text":"3.49","page_number":195,"box":{"x":517,"y":431,"width":28,"height":8}},{"id":"2d5329ea-94dc-4766-9795-5fd10330c3f7","block_type":"box","text":"14.1","page_number":195,"box":{"x":631,"y":431,"width":25,"height":8}},{"id":"85d04047-6aeb-4c31-8be5-6232499988fd","block_type":"box","text":"-8.7","page_number":195,"box":{"x":743,"y":431,"width":25,"height":8}},{"id":"7dc58cdb-61a6-4327-86e2-b20359183b2c","block_type":"box","text":"Insured Pension Income","page_number":195,"box":{"x":72,"y":474,"width":198,"height":8}},{"id":"a6c482e5-9231-4d96-9690-bd684192beb5","block_type":"box","text":"Distribution Units (%)","page_number":195,"box":{"x":72,"y":486,"width":140,"height":10}},{"id":"c1e845ee-f76a-407a-9665-c73727c6e2ea","block_type":"box","text":"UK Institutional Accumulation","page_number":195,"box":{"x":72,"y":511,"width":198,"height":8}},{"id":"531f0a1a-3392-4ad5-868d-d4a3e484198b","block_type":"box","text":"Units (%)","page_number":195,"box":{"x":72,"y":523,"width":60,"height":10}},{"id":"dbc07111-0c53-40fd-a6d0-db0903c4bc2f","block_type":"box","text":"8.66","page_number":195,"box":{"x":290,"y":511,"width":28,"height":8}},{"id":"783c1a41-f3f7-49be-9b74-804992bccbd7","block_type":"box","text":"6.61","page_number":195,"box":{"x":403,"y":511,"width":26,"height":8}},{"id":"d77caabd-e9ea-48aa-bc93-108d37582c67","block_type":"box","text":"3.60","page_number":195,"box":{"x":517,"y":511,"width":28,"height":8}},{"id":"e59b221f-c759-49a4-845f-813932b7d440","block_type":"box","text":"14.2","page_number":195,"box":{"x":631,"y":511,"width":27,"height":8}},{"id":"b1c55a9d-d8cc-4aed-a935-a68cbf794fc4","block_type":"box","text":"-8.8","page_number":195,"box":{"x":743,"y":511,"width":25,"height":8}},{"id":"d4e44c31-864a-4d78-8e54-f28099421a43","block_type":"box","text":"ACS (Fund of Fund)","page_number":195,"box":{"x":71,"y":554,"width":199,"height":10}},{"id":"f149b9db-8b53-42c7-a85d-00a06f8dc716","block_type":"box","text":"Accumulation Units Class 1","page_number":195,"box":{"x":71,"y":566,"width":197,"height":8}},{"id":"774359fa-41f0-4ea3-8983-8a8ba31a3a72","block_type":"box","text":"(%)","page_number":195,"box":{"x":72,"y":578,"width":21,"height":10}},{"id":"8899e33c-e595-498e-9176-6c9ea70fa9f1","block_type":"box","text":"ACS (Fund of Fund)","page_number":195,"box":{"x":71,"y":603,"width":199,"height":10}},{"id":"d1237182-4221-4fc7-addf-b310e2f3fc66","block_type":"box","text":"Accumulation Units Class 2","page_number":195,"box":{"x":71,"y":615,"width":199,"height":8}},{"id":"36b8437f-ff12-4c95-81a0-80211d6d7c9a","block_type":"box","text":"(%)","page_number":195,"box":{"x":72,"y":628,"width":21,"height":10}},{"id":"47af0b3c-a024-40e4-8714-bf263e20ac31","block_type":"box","text":"UK Corporate Accumulation","page_number":195,"box":{"x":72,"y":652,"width":198,"height":11}},{"id":"6595656c-d7d1-4690-ad72-031c4d180a19","block_type":"box","text":"Units (%)","page_number":195,"box":{"x":72,"y":665,"width":60,"height":10}},{"id":"57a38511-fe67-44aa-854d-27f6d3f29be0","block_type":"box","text":"8.79","page_number":195,"box":{"x":290,"y":653,"width":28,"height":8}},{"id":"3e5695c2-b0fa-4e36-8ad9-937f1c2adf8f","block_type":"box","text":"6.60","page_number":195,"box":{"x":403,"y":653,"width":29,"height":8}},{"id":"89052569-2818-43da-8103-88626cbe3d3d","block_type":"box","text":"3.60","page_number":195,"box":{"x":517,"y":653,"width":28,"height":8}},{"id":"5e5ed9c3-5542-45a0-b1fe-1e1e2880840a","block_type":"box","text":"14.1","page_number":195,"box":{"x":631,"y":653,"width":25,"height":7}},{"id":"635a364f-e9bd-4768-a669-00062c84c30b","block_type":"box","text":"-8.7","page_number":195,"box":{"x":743,"y":653,"width":25,"height":8}},{"id":"b60ff743-21a3-4de7-b490-e2226931fb49","block_type":"box","text":"Insured Pension","page_number":195,"box":{"x":72,"y":696,"width":198,"height":8}},{"id":"801037c5-3926-41ea-a7da-e4b28b47f7d7","block_type":"box","text":"Accumulation Units (%)","page_number":195,"box":{"x":71,"y":708,"width":156,"height":10}},{"id":"649c6bcc-b4e2-4345-845f-0922cca93440","block_type":"box","text":"UK Fund of Fund","page_number":195,"box":{"x":72,"y":733,"width":198,"height":8}},{"id":"03c63f2c-5a75-45a9-b59e-cd917dd14fff","block_type":"box","text":"Accumulation Units (%)","page_number":195,"box":{"x":71,"y":745,"width":156,"height":10}},{"id":"fd75e7f7-849f-4fdc-a924-a11f5292c90a","block_type":"box","text":"Index - FTSE® All-Share ex","page_number":195,"box":{"x":72,"y":773,"width":200,"height":8}},{"id":"fc931e28-0b97-47c5-a00f-8ea128935646","block_type":"box","text":"Tobacco Total Return Index","page_number":195,"box":{"x":73,"y":785,"width":186,"height":8}},{"id":"c33841a0-18e2-4252-bc53-3e1808fbab42","block_type":"box","text":"8.56","page_number":195,"box":{"x":290,"y":773,"width":29,"height":8}},{"id":"bc4bad26-6e03-4f4b-9cd5-bb213d8c7b67","block_type":"box","text":"9.39","page_number":195,"box":{"x":404,"y":773,"width":29,"height":8}},{"id":"0bd4ebee-9088-45a0-ae68-f5acf15fa1c8","block_type":"box","text":"0.55","page_number":195,"box":{"x":517,"y":773,"width":30,"height":8}},{"id":"998ddcdb-b7dd-46ab-9cf9-0539a701d92e","block_type":"box","text":"19.0","page_number":195,"box":{"x":633,"y":773,"width":27,"height":8}},{"id":"b653dc91-8748-436f-ac71-2b594b6cd9be","block_type":"box","text":"-11.4","page_number":195,"box":{"x":744,"y":773,"width":34,"height":8}},{"id":"60195c26-81df-417f-a20f-71f681402e65","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":196,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"e9b78f8b-754b-4ee7-9b65-70483cb649f9","block_type":"box","text":"196","page_number":196,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"45637d1f-178e-4225-a258-4e37c580f547","block_type":"box","text":"Aviva Investors: Confidential","page_number":196,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"b682282b-b695-460c-b2fd-68101d3c4985","block_type":"box","text":"Aviva Investors UK Equity Core Fund","page_number":196,"box":{"x":62,"y":53,"width":296,"height":11}},{"id":"1ab14a1b-01b5-4c2d-bf5d-318b59740b06","block_type":"box","text":"FCA product reference number: 985190","page_number":196,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"23f2dcd8-ae5e-43c8-b96b-25344050bc8a","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":196,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"f2b0e041-5785-4d9e-a157-2e5bc20bb54d","block_type":"box","text":"was authorised by the FCA on 12 October 2022.","page_number":196,"box":{"x":62,"y":125,"width":357,"height":11}},{"id":"753fd6e0-6b16-420b-b27e-d06dc40d34e7","block_type":"box","text":"Investment Objective and Policy","page_number":196,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"39ed694f-ddaf-479a-a20c-c9b5d59f36cf","block_type":"box","text":"The Sub-Fund aims to deliver returns which are similar to the returns of the MSCI®","page_number":196,"box":{"x":62,"y":184,"width":639,"height":9}},{"id":"5f9eaf7c-1276-4cac-8ca2-0a6d3893f066","block_type":"box","text":"United Kingdom ex Tobacco","page_number":196,"box":{"x":709,"y":184,"width":214,"height":11}},{"id":"1ffcf533-0041-4c55-8f01-306015564f11","block_type":"box","text":"Index (GBP)","page_number":196,"box":{"x":63,"y":197,"width":90,"height":11}},{"id":"bb9b998f-36ef-4be4-b205-2ab770500ff6","block_type":"box","text":"□","page_number":196,"box":{"x":158,"y":199,"width":5,"height":3}},{"id":"62b2b267-4795-4067-9bc5-be6c41c98202","block_type":"box","text":"(the “","page_number":196,"box":{"x":169,"y":197,"width":38,"height":11}},{"id":"ec0949e2-bf9f-4d9d-a883-462730ced8ae","block_type":"box","text":"Index","page_number":196,"box":{"x":209,"y":198,"width":42,"height":8}},{"id":"c08d72bf-591a-4f1d-9283-11c7f1e389da","block_type":"box","text":"”) over a rolling 12 month period (before charges and taxes) whilst investing in accordance","page_number":196,"box":{"x":252,"y":197,"width":671,"height":12}},{"id":"a0b01c8c-6a76-4cae-9a15-975bc6a99817","block_type":"box","text":"with the investment strategy of the Sub-Fund.","page_number":196,"box":{"x":62,"y":211,"width":336,"height":11}},{"id":"11dd7c79-c637-4e35-b82c-207d59ea7c61","block_type":"box","text":"Core investment:","page_number":196,"box":{"x":62,"y":231,"width":135,"height":9}},{"id":"59c8f4ad-1a85-4290-bf38-f46de42be0c9","block_type":"box","text":"The Sub-Fund will invest to form a portfolio representative of the core regional market, as represented by the Index.","page_number":196,"box":{"x":62,"y":250,"width":860,"height":11}},{"id":"cf190276-bbc0-4923-8ffc-6e725f578412","block_type":"box","text":"It will therefore invest a minimum of 80% in shares of UK companies that make up the Index. “UK Companies” refers","page_number":196,"box":{"x":63,"y":264,"width":860,"height":11}},{"id":"5f1b8a58-3c0a-4a83-b8f0-9a47c03ef678","block_type":"box","text":"to companies which are incorporated, domiciled, and/or have significant trading activities in the UK.","page_number":196,"box":{"x":62,"y":278,"width":734,"height":11}},{"id":"e875f758-c4eb-437a-bfaa-9a3dfcc7c555","block_type":"box","text":"Other investments:","page_number":196,"box":{"x":62,"y":297,"width":151,"height":9}},{"id":"171a2be9-a500-4092-b14f-807788a42b21","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies),","page_number":196,"box":{"x":62,"y":317,"width":860,"height":11}},{"id":"20c49fab-ea29-4996-97f2-a87b875f0787","block_type":"box","text":"money market instruments, cash and deposits. Derivatives and forward transaction may be used from time to time to","page_number":196,"box":{"x":62,"y":330,"width":861,"height":11}},{"id":"b0047dfe-850d-49ac-84af-63c2934debda","block_type":"box","text":"gain a particular market exposure which would otherwise be difficult or costly to achieve, to manage the Sub-Fund’s","page_number":196,"box":{"x":62,"y":344,"width":861,"height":11}},{"id":"35272b4c-79e9-4542-a80f-f602ab331871","block_type":"box","text":"cash flows in a cost-effective manner, or to reduce foreign currency risk within the Sub-Fund.","page_number":196,"box":{"x":62,"y":358,"width":687,"height":11}},{"id":"e41f5556-3825-4801-a246-707647075535","block_type":"box","text":"Investment Strategy and ESG Overlay","page_number":196,"box":{"x":62,"y":377,"width":301,"height":12}},{"id":"48636700-21a8-4049-ab99-bb99faeee5a8","block_type":"box","text":"□","page_number":196,"box":{"x":364,"y":379,"width":5,"height":3}},{"id":"887a254a-1da4-43fa-a7ba-fb1abf45fa7b","block_type":"box","text":"□","page_number":196,"box":{"x":370,"y":379,"width":5,"height":3}},{"id":"30721c16-0c03-4f8d-9392-1811ce8884fa","block_type":"box","text":":","page_number":196,"box":{"x":378,"y":380,"width":1,"height":6}},{"id":"8c97380d-e33d-45c4-a7e7-c1aa2ed46b66","block_type":"box","text":"The Fund does not have any sustainability-related investment objectives. However, when selecting companies, the","page_number":196,"box":{"x":62,"y":397,"width":861,"height":11}},{"id":"1ea5103b-8f55-45df-a8eb-0cb08cfe8b80","block_type":"box","text":"Investment Manager uses a passive sampling approach together with the Aviva Investors’ baseline exclusion policy","page_number":196,"box":{"x":63,"y":411,"width":860,"height":11}},{"id":"1ec52abe-087e-40a6-aa35-1cface9776ea","block_type":"box","text":"and an active ESG Overlay (as described below). The Fund’s strategy is designed to deliver, on average over a 12","page_number":196,"box":{"x":62,"y":424,"width":860,"height":11}},{"id":"fe1d3b48-20b9-4c62-8c41-767e3a0d79b1","block_type":"box","text":"month rolling period, a higher ESG score and a lower carbon intensity score than the Index (measured using month","page_number":196,"box":{"x":62,"y":438,"width":860,"height":11}},{"id":"579d477e-e1bf-4717-b5ca-f02def49d8fc","block_type":"box","text":"end data), whilst also seeking to minimise the Fund’s tracking error to that Index. This means that the portfolio is","page_number":196,"box":{"x":62,"y":451,"width":861,"height":12}},{"id":"2e18cf75-4e85-48f8-9ddf-db42f66a427d","block_type":"box","text":"created by first removing the excluded companies from the Index universe, then either overweighting, underweighting","page_number":196,"box":{"x":62,"y":465,"width":860,"height":11}},{"id":"0dcbba16-b2c2-46ee-a98c-405dc5a86356","block_type":"box","text":"or excluding holdings relative to the Index based on both their ESG scores and carbon intensity scores (the ESG","page_number":196,"box":{"x":62,"y":479,"width":860,"height":11}},{"id":"ec0345cc-9a7e-4f4e-8987-a7b66e68190e","block_type":"box","text":"Overlay) and potential to deliver returns similar to the Index. Individual holdings do not need to achieve a specific or","page_number":196,"box":{"x":62,"y":492,"width":861,"height":12}},{"id":"7bb5ee7f-409f-4600-85fa-b1f32d452c77","block_type":"box","text":"minimum ESG score or maximum carbon intensity score to be selected for investment, and therefore the Sub-Fund","page_number":196,"box":{"x":62,"y":506,"width":860,"height":11}},{"id":"19b77578-3b7b-454b-ace0-372284dceb4f","block_type":"box","text":"will hold companies that could be considered to have low ESG scores or high carbon intensity scores.","page_number":196,"box":{"x":62,"y":520,"width":752,"height":11}},{"id":"c410a7e0-ae52-4140-b555-85fe262f9dc9","block_type":"box","text":"The Investment Manager will also seek to minimise the Sub-Fund’s tracking error to the Index. However, the ESG","page_number":196,"box":{"x":62,"y":547,"width":860,"height":11}},{"id":"2096c650-d9ff-4843-ba0d-d35dad0d11fa","block_type":"box","text":"Overlay may limit the choice of investments available to the Sub-Fund and therefore it may not perform in line (either","page_number":196,"box":{"x":62,"y":561,"width":862,"height":11}},{"id":"91647a6e-f94b-4280-a033-9a8af8c20e37","block_type":"box","text":"positively or negatively) with the Index or other similar funds that have a broader investment policy.","page_number":196,"box":{"x":62,"y":574,"width":731,"height":12}},{"id":"e3c8126f-29a0-4076-b2ae-ad91b580bb19","block_type":"box","text":"ESG scores assess a company’s resilience to financially material environmental, societal and governance risks, in","page_number":196,"box":{"x":63,"y":602,"width":859,"height":11}},{"id":"56cb66e2-e393-43bf-9965-a4f16314784d","block_type":"box","text":"each case being risks to their financial performance relative to other companies in the same sector. Carbon intensity","page_number":196,"box":{"x":62,"y":615,"width":861,"height":12}},{"id":"3af526ae-1fed-4608-9ecd-c0456be5cfe0","block_type":"box","text":"scores measure how carbon-intensive a company’s activities are and provides a comparable metric for assessment","page_number":196,"box":{"x":62,"y":629,"width":861,"height":11}},{"id":"26c953fc-c6c7-4bc6-9211-fcbb573f5528","block_type":"box","text":"against peers, portfolios and benchmarks.","page_number":196,"box":{"x":62,"y":643,"width":310,"height":11}},{"id":"88224ee8-d0fe-4ce3-ae77-e13088cff150","block_type":"box","text":"The Sub-Fund’s holdings will be reviewed and, if necessary, rebalanced quarterly and/or on an ad hoc basis when","page_number":196,"box":{"x":62,"y":670,"width":860,"height":11}},{"id":"3c499f80-5145-42a1-9de1-edbb993b6efb","block_type":"box","text":"the Investment Manager is of the opinion that market conditions dictate, taking into account any changes to companies","page_number":196,"box":{"x":62,"y":684,"width":861,"height":11}},{"id":"1182b6d0-ca60-4435-aec1-89acf1cc810f","block_type":"box","text":"in the Index, the latest available data and market conditions.","page_number":196,"box":{"x":62,"y":697,"width":444,"height":11}},{"id":"e3fc16cb-ef7f-469c-ae47-47d4f6db8736","block_type":"box","text":"Further information on the ESG Overlay is set out in Appendix 4. Further information on the baseline","page_number":196,"box":{"x":63,"y":725,"width":860,"height":11}},{"id":"c9c1b7f6-231e-4ba6-91a8-bda5ddbe59a1","block_type":"box","text":"exclusion policy is set out in Appendix 2.","page_number":196,"box":{"x":62,"y":738,"width":327,"height":12}},{"id":"7b564ea8-8878-415f-a43e-1b3e85b1a5f4","block_type":"box","text":"Performance & Risk Strategy:","page_number":196,"box":{"x":63,"y":758,"width":234,"height":11}},{"id":"9d1295e6-b419-479a-8569-62f96d9f6d09","block_type":"box","text":"The Sub-Fund’s performance is measured against the Index over a rolling 12 month period, before charges and taxes.","page_number":196,"box":{"x":62,"y":777,"width":860,"height":12}},{"id":"14edb9bd-86b7-4f15-ba4f-d9fc4196de01","block_type":"box","text":"However, the Sub-Fund will not hold every company in the Index, and may also hold investments that do not form","page_number":196,"box":{"x":63,"y":791,"width":860,"height":11}},{"id":"fe0e5f3c-3588-490e-bc6b-866217bc6dde","block_type":"box","text":"part of the Index.","page_number":196,"box":{"x":62,"y":805,"width":124,"height":11}},{"id":"04cc1327-1ccb-414b-b760-75bf8bc77afa","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund’s returns and the returns of","page_number":196,"box":{"x":62,"y":832,"width":861,"height":11}},{"id":"af15a498-5132-40fc-96d5-b0b5db3e49cc","block_type":"box","text":"the Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":196,"box":{"x":62,"y":846,"width":860,"height":11}},{"id":"0f695cfa-836e-4f98-a2be-68dcb114e978","block_type":"box","text":"and vice-versa.","page_number":196,"box":{"x":62,"y":860,"width":112,"height":8}},{"id":"5ed136a9-0f94-45ad-bd42-8cd98236b29c","block_type":"box","text":"The Sub-Fund is expected to have an average yearly tracking error of between 0% and 1.50% when compared to the","page_number":196,"box":{"x":62,"y":887,"width":861,"height":11}},{"id":"964ed52f-f45b-4c62-aac3-2f22e4d926fd","block_type":"box","text":"Index (excluding charges and taxes). However, there may be times when the Sub-Fund operates outside of this range.","page_number":196,"box":{"x":63,"y":900,"width":859,"height":12}},{"id":"88878494-099e-42d9-bccb-d03d22045812","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":197,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"5781afe7-d6b0-43a2-b17e-188fc22a008b","block_type":"box","text":"197","page_number":197,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"fc644bd4-fe61-4810-9c61-ecb89ccc174f","block_type":"box","text":"Aviva Investors: Confidential","page_number":197,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"e376e75e-1a15-4d39-8d85-c3f0e93ddb8d","block_type":"box","text":"The Investment Manager will review the tracking error range on a periodic basis and, if appropriate, may update the","page_number":197,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"e96e3a57-b8c0-4a93-8cf2-a642c7cbd141","block_type":"box","text":"range by updating this Prospectus.","page_number":197,"box":{"x":63,"y":66,"width":256,"height":11}},{"id":"1acdc452-e40a-4f20-92fc-a17449178837","block_type":"box","text":"The Index comprises large and medium sized companies in the UK market, covering 85% of the free float-adjusted","page_number":197,"box":{"x":62,"y":94,"width":860,"height":11}},{"id":"6bee7dc7-3c61-4598-a692-9d3b4bca66e7","block_type":"box","text":"market capitalisation in the UK, but excludes shares in companies that are classified as tobacco producers or that","page_number":197,"box":{"x":62,"y":107,"width":861,"height":11}},{"id":"94e22e87-4144-4eb0-b539-192f6dc9cb95","block_type":"box","text":"derive 5% of their revenue from the distribution, retail or supply of tobacco. The Index has been selected as a measure","page_number":197,"box":{"x":62,"y":121,"width":861,"height":11}},{"id":"c80ad7f0-bc1e-4a71-9077-5fd1dda8159e","block_type":"box","text":"for performance because it is representative of the type of assets in which the Sub-Fund is likely to invest, and it is","page_number":197,"box":{"x":62,"y":134,"width":861,"height":12}},{"id":"20d6fca1-d719-4d12-80e3-40706e101ecc","block_type":"box","text":"therefore an appropriate measure for the Sub-Fund’s performance.","page_number":197,"box":{"x":62,"y":148,"width":495,"height":11}},{"id":"ddffadde-6b1b-4e25-9513-f08a6314a567","block_type":"box","text":"To allow assessment of the Sub-Fund’s ESG outcomes, the ESG and carbon intensity scores of the Sub-Fund,","page_number":197,"box":{"x":62,"y":175,"width":860,"height":12}},{"id":"4742fd8e-e76b-4576-9671-bdd4d04056dc","block_type":"box","text":"compared to those of the Index, will be reported to investors quarterly based on the latest 12 month rolling data.","page_number":197,"box":{"x":62,"y":189,"width":826,"height":11}},{"id":"f90b8394-d764-49ee-a4e6-a174a8ef3ecf","block_type":"box","text":"Additional Information","page_number":197,"box":{"x":62,"y":228,"width":177,"height":9}},{"id":"2b14c397-d714-4d5c-90b3-d07e95f9d601","block_type":"box","text":"Investment Manager","page_number":197,"box":{"x":118,"y":255,"width":151,"height":11}},{"id":"b90069e4-1fce-4712-94da-e3d78f7578af","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":197,"box":{"x":352,"y":254,"width":294,"height":9}},{"id":"e1ca3a53-7cb3-4700-b270-b9ce99fc45ea","block_type":"box","text":"Type of Units","page_number":197,"box":{"x":116,"y":281,"width":98,"height":11}},{"id":"68a4d5bc-b7cb-42f8-b10c-435e2d0813ca","block_type":"box","text":"UK Corporate Accumulation Units","page_number":197,"box":{"x":353,"y":281,"width":250,"height":11}},{"id":"79399386-4df5-4120-8409-86595e8adff0","block_type":"box","text":"Insured Pension Accumulation Units","page_number":197,"box":{"x":354,"y":307,"width":267,"height":9}},{"id":"1d89113e-9215-40f9-bfdd-4666121c4da8","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":197,"box":{"x":353,"y":333,"width":275,"height":9}},{"id":"2ff76661-b9b1-46f3-903f-bdc9634927f2","block_type":"box","text":"Dealing Day","page_number":197,"box":{"x":118,"y":359,"width":89,"height":11}},{"id":"6b6cb8ab-d445-465e-9e99-be181a978519","block_type":"box","text":"Each Business Day","page_number":197,"box":{"x":354,"y":359,"width":143,"height":11}},{"id":"1d9abda0-8a59-4082-9239-1b470131c4e8","block_type":"box","text":"Deal Cut-Off Point","page_number":197,"box":{"x":118,"y":385,"width":134,"height":9}},{"id":"5fea0933-16e1-417b-a712-5388aabb2473","block_type":"box","text":"12.00 noon","page_number":197,"box":{"x":354,"y":385,"width":81,"height":9}},{"id":"a32aab3e-e866-406b-accf-8bf197dacf10","block_type":"box","text":"Valuation Point","page_number":197,"box":{"x":117,"y":411,"width":112,"height":9}},{"id":"6b94850b-423b-4c81-b7d2-e246e38dadea","block_type":"box","text":"3.00 pm","page_number":197,"box":{"x":353,"y":411,"width":59,"height":11}},{"id":"bd132540-e29a-4655-ad0e-d520123a1791","block_type":"box","text":"*Minimum Investment","page_number":197,"box":{"x":117,"y":437,"width":172,"height":9}},{"id":"ac8ed974-9240-4d0d-91b6-23cd8dddaa62","block_type":"box","text":"UK Corporate Accumulation","page_number":197,"box":{"x":118,"y":463,"width":205,"height":11}},{"id":"cdc3fd8f-47bd-4321-8d14-82672959f15a","block_type":"box","text":"Units, Insured Pension","page_number":197,"box":{"x":118,"y":477,"width":166,"height":10}},{"id":"ac763c6a-670b-4674-8f9d-c9d798368e7b","block_type":"box","text":"Accumulation Units","page_number":197,"box":{"x":116,"y":491,"width":143,"height":9}},{"id":"78ff5224-9b4c-43e3-b10f-9c23cf11dd5c","block_type":"box","text":"UK Fund of Fund","page_number":197,"box":{"x":118,"y":510,"width":125,"height":9}},{"id":"ab3517fd-963a-4b00-8d7a-1929f424f00c","block_type":"box","text":"Accumulation Units","page_number":197,"box":{"x":116,"y":524,"width":143,"height":9}},{"id":"a7ebaa67-281e-445f-b4fd-ceaa44e417a9","block_type":"box","text":"No minimum","page_number":197,"box":{"x":353,"y":464,"width":92,"height":8}},{"id":"12549962-5003-4816-bb60-5d49cb74dbdd","block_type":"box","text":"Minimum withdrawal","page_number":197,"box":{"x":117,"y":550,"width":150,"height":9}},{"id":"7147bdc7-98ab-4161-a7da-c2735f68c9f3","block_type":"box","text":"No minimum","page_number":197,"box":{"x":353,"y":550,"width":92,"height":9}},{"id":"0a9fccb6-95be-42c7-8665-4eec8d05bcfb","block_type":"box","text":"Tax Criteria for investment","page_number":197,"box":{"x":116,"y":576,"width":213,"height":9}},{"id":"b929cd15-ba54-42be-80f9-cd9ee9666a6c","block_type":"box","text":"UK Corporate Accumulation","page_number":197,"box":{"x":118,"y":602,"width":205,"height":11}},{"id":"7c229036-55ec-4f13-800a-6d4b1e38deb7","block_type":"box","text":"Units","page_number":197,"box":{"x":118,"y":616,"width":36,"height":9}},{"id":"bee89e86-9811-427b-89e5-bb2b0c3f4b6e","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":197,"box":{"x":352,"y":602,"width":404,"height":11}},{"id":"f310a0d8-73f7-4891-a8af-4c7fc07b29e6","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":197,"box":{"x":353,"y":616,"width":404,"height":11}},{"id":"23ae1f90-3e7f-4965-9e96-0cae1ee19feb","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":197,"box":{"x":352,"y":630,"width":405,"height":11}},{"id":"930a01a9-b96f-499c-aee6-430c3aec9903","block_type":"box","text":"linked pension business contracts.","page_number":197,"box":{"x":353,"y":643,"width":253,"height":11}},{"id":"de5ecb89-613b-4318-a0fe-50773e0a2e4a","block_type":"box","text":"Insured Pension","page_number":197,"box":{"x":118,"y":670,"width":118,"height":8}},{"id":"4bfd1596-df24-4f57-975c-052f4cbf35ef","block_type":"box","text":"Accumulation Units","page_number":197,"box":{"x":116,"y":683,"width":143,"height":9}},{"id":"f0adeb83-8eb6-4ae4-b0fb-4003f01b5dfd","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":197,"box":{"x":352,"y":669,"width":404,"height":12}},{"id":"cb8ac448-f6ad-4ba3-8dbf-0592e062661d","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":197,"box":{"x":353,"y":683,"width":404,"height":11}},{"id":"9be1674c-8f68-45c1-8a88-072c1341be33","block_type":"box","text":"back exclusively its unit linked pension business","page_number":197,"box":{"x":353,"y":697,"width":404,"height":11}},{"id":"d7a2ce6d-6b71-4961-b3b3-e4f3584151b6","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":197,"box":{"x":353,"y":710,"width":404,"height":12}},{"id":"f7e4884e-7d3e-4e31-9726-c363bb652234","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":197,"box":{"x":353,"y":724,"width":307,"height":11}},{"id":"8dc8a29d-0f05-4343-b7e3-208adf2dec0a","block_type":"box","text":"UK Fund of Fund","page_number":197,"box":{"x":118,"y":750,"width":125,"height":9}},{"id":"5deae864-9848-4607-9a31-5a6d06eabc81","block_type":"box","text":"Accumulation Units","page_number":197,"box":{"x":116,"y":764,"width":143,"height":9}},{"id":"bc5c7c60-5f66-4cf7-afb5-4605f1d35e34","block_type":"box","text":"A sub-fund of a UK authorised Open-Ended Investment","page_number":197,"box":{"x":352,"y":750,"width":405,"height":11}},{"id":"40e7933b-4607-4078-af70-fc0bd0913ed0","block_type":"box","text":"Company which is part of or otherwise managed by the","page_number":197,"box":{"x":353,"y":764,"width":403,"height":11}},{"id":"79760eec-0ac6-4cd8-8828-cf03096fa683","block_type":"box","text":"Aviva Group.","page_number":197,"box":{"x":352,"y":777,"width":96,"height":12}},{"id":"28af23f9-90d5-4353-b873-14f185f2abc4","block_type":"box","text":"**Current Charges:","page_number":197,"box":{"x":117,"y":804,"width":149,"height":11}},{"id":"0d086784-030d-4747-83b1-5e20a822f6ea","block_type":"box","text":"UK Corporate Accumulation","page_number":197,"box":{"x":118,"y":830,"width":205,"height":11}},{"id":"28751c36-eda3-44f6-97bc-e20bb4fb0dbb","block_type":"box","text":"Units, Insured Pension","page_number":197,"box":{"x":118,"y":844,"width":166,"height":10}},{"id":"4523c795-5def-4ca1-a187-936540cf66f1","block_type":"box","text":"Accumulation Units","page_number":197,"box":{"x":116,"y":857,"width":143,"height":9}},{"id":"74a62aa5-4da6-4048-919d-e61cd9795c48","block_type":"box","text":"UK Fund of Fund","page_number":197,"box":{"x":118,"y":896,"width":125,"height":9}},{"id":"00c42c94-648d-46f6-beb9-0d68f1cf969d","block_type":"box","text":"Accumulation Units","page_number":197,"box":{"x":116,"y":910,"width":143,"height":9}},{"id":"5a6df49c-eaa4-4525-bb69-012faf0394e2","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":197,"box":{"x":352,"y":830,"width":404,"height":11}},{"id":"f3b0b057-2c1f-4f5e-9d7b-1c31e9e4ce63","block_type":"box","text":"Unitholder","page_number":197,"box":{"x":353,"y":844,"width":75,"height":8}},{"id":"98adedcf-e091-46a0-a0f7-934164fd6ea3","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":197,"box":{"x":352,"y":863,"width":404,"height":11}},{"id":"9d405720-2e27-47c7-9b5b-a048138922d8","block_type":"box","text":"property","page_number":197,"box":{"x":353,"y":877,"width":60,"height":11}},{"id":"6334a642-a122-431f-a350-7b1bfdf1c043","block_type":"box","text":"ACS management charge: Deducted from Scheme","page_number":197,"box":{"x":352,"y":896,"width":404,"height":11}},{"id":"65ebc6e1-9082-413f-bfd1-927b08246abd","block_type":"box","text":"Property of FoF Units.","page_number":197,"box":{"x":354,"y":910,"width":161,"height":11}},{"id":"e428d754-6fa3-486c-ae6c-aa62c23127b2","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":198,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"14b5e577-8e96-4a1c-b5d9-ef08c9783fca","block_type":"box","text":"198","page_number":198,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"de57280f-fd9e-4bd7-bb41-fe13884d64a0","block_type":"box","text":"Aviva Investors: Confidential","page_number":198,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"e94b425c-bf01-427b-91a8-3460173b76b7","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":198,"box":{"x":352,"y":53,"width":404,"height":11}},{"id":"9f0d978e-e503-4570-94ee-ba217f2bfcab","block_type":"box","text":"Property.","page_number":198,"box":{"x":354,"y":67,"width":65,"height":11}},{"id":"62e6be3b-d345-43fa-b791-cbce2bf2f100","block_type":"box","text":"The ACS management charge deducted from Scheme","page_number":198,"box":{"x":352,"y":86,"width":404,"height":12}},{"id":"53ada019-d2a7-48ab-bb46-f10ca2899dbf","block_type":"box","text":"Property shall be reduced by an amount equal to the","page_number":198,"box":{"x":354,"y":100,"width":403,"height":11}},{"id":"81c1d9d7-7350-4859-a93b-4b5a6282c639","block_type":"box","text":"Administration Charge deducted from the Scheme","page_number":198,"box":{"x":352,"y":114,"width":404,"height":11}},{"id":"b90a7cef-f948-47ae-8a1e-d5f067ac50ba","block_type":"box","text":"Property of that Sub-Fund and Unit Class in the","page_number":198,"box":{"x":354,"y":127,"width":402,"height":11}},{"id":"557c674b-ee75-4276-a3e4-ed910575dff6","block_type":"box","text":"relevant period.","page_number":198,"box":{"x":353,"y":141,"width":113,"height":11}},{"id":"ad7c72f4-04c3-4e2e-b41d-0423796ef605","block_type":"box","text":"Accounting Dates","page_number":198,"box":{"x":117,"y":167,"width":141,"height":11}},{"id":"9fe2731d-dd7a-4c5a-8235-d583319706fd","block_type":"box","text":"Annual Accounting Date","page_number":198,"box":{"x":116,"y":193,"width":180,"height":11}},{"id":"106c50d5-e03f-4b60-a1f0-dc0f6ed7eeff","block_type":"box","text":"31 December","page_number":198,"box":{"x":353,"y":193,"width":100,"height":9}},{"id":"1e370d3b-3845-478e-9cb0-7c5eec5713b0","block_type":"box","text":"First Accounting Date","page_number":198,"box":{"x":118,"y":220,"width":158,"height":11}},{"id":"e65d880c-e57e-42cc-85be-fee5179aceac","block_type":"box","text":"31 December 2023","page_number":198,"box":{"x":353,"y":220,"width":141,"height":8}},{"id":"76cce034-9024-4b0f-bf36-5a1385f310fe","block_type":"box","text":"Annual Income Allocation","page_number":198,"box":{"x":116,"y":246,"width":188,"height":8}},{"id":"a7e3b72f-8f4b-4a81-bf12-b1aadcf482a0","block_type":"box","text":"Date","page_number":198,"box":{"x":118,"y":259,"width":33,"height":9}},{"id":"43e3ccc5-9c99-489f-8400-1e5b3dd7cf74","block_type":"box","text":"On or before 28 /29 February","page_number":198,"box":{"x":353,"y":245,"width":217,"height":12}},{"id":"b25d74e9-2de1-4792-8f38-da15e1bdf2d0","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":198,"box":{"x":118,"y":285,"width":293,"height":12}},{"id":"c9a6e209-151b-47a8-bde4-1ebb7d8901e1","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":198,"box":{"x":62,"y":311,"width":861,"height":11}},{"id":"692d77fe-c7c3-4445-b289-49127a4aec03","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":198,"box":{"x":62,"y":325,"width":408,"height":11}},{"id":"31c369f8-6b8d-4a33-b346-b1f8df97babc","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":198,"box":{"x":62,"y":345,"width":642,"height":11}},{"id":"35b5aefb-f3e8-4486-bc1e-1dc6222d5899","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":198,"box":{"x":62,"y":364,"width":860,"height":11}},{"id":"ae6e0a5e-a59c-4b44-9e8c-227327560f60","block_type":"box","text":"this Prospectus.","page_number":198,"box":{"x":62,"y":378,"width":117,"height":11}},{"id":"c0470472-b8d5-46d6-8d4a-91288f69378a","block_type":"box","text":"□","page_number":198,"box":{"x":62,"y":393,"width":5,"height":4}},{"id":"1b991e66-e73c-427c-9c05-af33192e0dd7","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":198,"box":{"x":74,"y":392,"width":342,"height":8}},{"id":"be12f29c-931c-42aa-912c-a40ffde56e58","block_type":"box","text":"□","page_number":198,"box":{"x":62,"y":420,"width":5,"height":4}},{"id":"a183bcad-094b-43f6-8ed7-c3881a276c80","block_type":"box","text":"□","page_number":198,"box":{"x":69,"y":420,"width":5,"height":4}},{"id":"e57b244f-1a28-4ef8-b151-a35d528e0904","block_type":"box","text":"Our ESG assessments and exclusions are reliant on: (i) data provided by third party data providers; and (ii) AI and","page_number":198,"box":{"x":75,"y":419,"width":847,"height":11}},{"id":"ca32d25a-760b-4e8c-b45a-4c19f5670a0b","block_type":"box","text":"third-party proprietary models. Data from these third-party data providers or used in our ESG models may be","page_number":198,"box":{"x":62,"y":432,"width":861,"height":12}},{"id":"b4fb4d6b-fc99-4cab-91c1-a84d16ac358f","block_type":"box","text":"incomplete, inaccurate or unavailable. As a result, there is a risk that the Investment Manager may, from time to time,","page_number":198,"box":{"x":62,"y":446,"width":860,"height":11}},{"id":"226b11f8-5e9e-40d3-ae28-d5d3fbc2115d","block_type":"box","text":"incorrectly assess an asset. There is also a risk that the Investment Manager, or the third-party data providers on","page_number":198,"box":{"x":62,"y":460,"width":860,"height":11}},{"id":"b643152b-3790-4690-8f0e-84ecc6fb0266","block_type":"box","text":"which we may depend, may not interpret or apply the relevant ESG characteristics correctly. Our proprietary ESG tool","page_number":198,"box":{"x":62,"y":473,"width":860,"height":12}},{"id":"3475bc16-756d-47bb-a91e-6d598fe0af97","block_type":"box","text":"emphasises the ESG factors which we determine are most closely correlated to potential financial outperformance.","page_number":198,"box":{"x":62,"y":487,"width":860,"height":11}},{"id":"28859f2c-190a-4f86-a104-a0b3fc8b5b3e","block_type":"box","text":"Accordingly, it should not be used as a comprehensive measure of the sustainability risks (or the overall ESG","page_number":198,"box":{"x":62,"y":501,"width":860,"height":11}},{"id":"a2703cdf-9f12-4f22-b5cc-efab433caf1d","block_type":"box","text":"quality/credentials) of a Sub-Fund.","page_number":198,"box":{"x":62,"y":514,"width":254,"height":12}},{"id":"397ad61d-182a-4a5a-ae5d-bf28c08f9ad0","block_type":"box","text":"Securities Financing and other Transactions:","page_number":198,"box":{"x":62,"y":560,"width":358,"height":11}},{"id":"76fd9fc0-60de-4ff4-abeb-e077fcd7b704","block_type":"box","text":"The types of assets which may be subject to TRS are limited to Equity Securities.","page_number":198,"box":{"x":62,"y":579,"width":601,"height":11}},{"id":"6643c2e6-fbb2-4077-95aa-9d2197b60333","block_type":"box","text":"The assets which may be subject to securities lending or repo transactions will be limited to Equity Securities.","page_number":198,"box":{"x":62,"y":618,"width":809,"height":12}},{"id":"e6dfbd31-5681-4a03-849f-3ec99770d61c","block_type":"box","text":"Given that the Sub-Fund’s assets cannot be described as being ‘subject to’ TRS, the maximum and expected","page_number":198,"box":{"x":62,"y":657,"width":860,"height":12}},{"id":"ba1a682c-1291-4bde-ae57-328a74f41863","block_type":"box","text":"percentages of TRS are given as the gross aggregate notional of TRS as a percentage of the NAV.","page_number":198,"box":{"x":62,"y":671,"width":734,"height":11}},{"id":"c31fe2e0-1a27-4acd-9076-64e396b4b764","block_type":"box","text":"The maximum proportion of the assets of the Fund which may be subject to TRS, securities lending or repo","page_number":198,"box":{"x":62,"y":718,"width":799,"height":12}},{"id":"d0b3b2b5-ab9b-4adc-b7eb-2f8bdcafdfed","block_type":"box","text":"transactions is as follows:","page_number":198,"box":{"x":62,"y":734,"width":188,"height":9}},{"id":"0d9412c0-7e3c-415b-aa8c-014f792a5c28","block_type":"box","text":"Total Return Swaps","page_number":198,"box":{"x":71,"y":770,"width":147,"height":11}},{"id":"202c638c-abf2-48f3-978c-154d362aedb7","block_type":"box","text":"10%","page_number":198,"box":{"x":461,"y":770,"width":31,"height":9}},{"id":"a96b0c8a-62e5-43f9-8404-eb55b710ae97","block_type":"box","text":"Securities Lending","page_number":198,"box":{"x":72,"y":792,"width":136,"height":11}},{"id":"927f5a4f-5bf1-46d3-a604-6b45a8e405ba","block_type":"box","text":"50%","page_number":198,"box":{"x":460,"y":792,"width":32,"height":9}},{"id":"6d47be74-e4b0-4a4e-be25-85b2c5fbf7fe","block_type":"box","text":"Repo Transactions","page_number":198,"box":{"x":72,"y":814,"width":139,"height":11}},{"id":"7b22d1b6-aafe-48ed-95bc-bb33d64a5e2e","block_type":"box","text":"50%","page_number":198,"box":{"x":460,"y":814,"width":32,"height":9}},{"id":"95c81bec-64ff-4133-b3b5-69286816015b","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":198,"box":{"x":62,"y":856,"width":823,"height":11}},{"id":"b82f45af-ff53-4566-9be8-1521f4c931a0","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to TRS, securities lending or","page_number":198,"box":{"x":62,"y":871,"width":828,"height":12}},{"id":"d03bda8d-7808-4205-9968-02af7479ddf1","block_type":"box","text":"repo transactions is as follows:","page_number":198,"box":{"x":63,"y":887,"width":226,"height":11}},{"id":"6c1ac07a-fb4e-4d0b-a6d9-2b909e100303","block_type":"box","text":"Total Return Swaps","page_number":198,"box":{"x":71,"y":923,"width":147,"height":11}},{"id":"b5ad900d-0775-46de-9f07-445bd6968a55","block_type":"box","text":"0%","page_number":198,"box":{"x":460,"y":923,"width":23,"height":9}},{"id":"24a19ac1-0b0e-4264-84be-a352411f4f10","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":199,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"47054f2e-6eec-43a7-8dc1-997049d96df6","block_type":"box","text":"199","page_number":199,"box":{"x":781,"y":940,"width":18,"height":6}},{"id":"90b78346-1f2c-40cf-ab71-d9c40973f9d2","block_type":"box","text":"Aviva Investors: Confidential","page_number":199,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"bffc39d0-5249-4b22-a24c-ed2fda0044cb","block_type":"box","text":"Securities Lending","page_number":199,"box":{"x":72,"y":61,"width":136,"height":11}},{"id":"1f071d22-b66d-445f-9689-be79b10bd5f8","block_type":"box","text":"25%","page_number":199,"box":{"x":460,"y":61,"width":32,"height":9}},{"id":"1c3f5c4a-8e72-408e-bd74-7e1d7bfae1f5","block_type":"box","text":"Repo Transactions","page_number":199,"box":{"x":72,"y":83,"width":139,"height":11}},{"id":"be2c4c37-4f37-4251-a49a-834de1dcb48d","block_type":"box","text":"12.5%","page_number":199,"box":{"x":461,"y":83,"width":45,"height":9}},{"id":"6c70bb36-7ba4-42df-8339-5a26d99d43ab","block_type":"box","text":"The expected proportion of AUM subject to TRS, securities lending or repo transactions is indicative only and,","page_number":199,"box":{"x":62,"y":125,"width":812,"height":11}},{"id":"8d76b756-6775-4fd0-b6ce-6e853ad7486f","block_type":"box","text":"depending on market conditions and the strategies employed, the actual exposure may be outside of that range at","page_number":199,"box":{"x":62,"y":140,"width":845,"height":12}},{"id":"5cebb1d2-8ac2-426c-874b-6f1655357687","block_type":"box","text":"any given point in time. There may be times when there the proportion of AUM subject to TRS, securities lending or","page_number":199,"box":{"x":62,"y":156,"width":854,"height":11}},{"id":"7add6904-7575-410c-aec3-155c9b63e827","block_type":"box","text":"repo transactions is zero.","page_number":199,"box":{"x":63,"y":172,"width":184,"height":11}},{"id":"ce36191a-acc1-4eaa-bcf1-8581a5c83cd5","block_type":"box","text":"Leverage","page_number":199,"box":{"x":63,"y":219,"width":72,"height":11}},{"id":"ca52fab8-20ae-495a-abc0-a39c5e1eb65e","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":199,"box":{"x":63,"y":239,"width":860,"height":11}},{"id":"95fa1a6f-5a86-4a74-a2b6-2def864931a3","block_type":"box","text":"management.","page_number":199,"box":{"x":62,"y":253,"width":101,"height":10}},{"id":"04661215-c8a0-4449-9036-3eb2a1a54d43","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":199,"box":{"x":62,"y":285,"width":860,"height":12}},{"id":"9da76e68-0024-4885-9ff0-7d9d4e67f492","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":199,"box":{"x":62,"y":299,"width":649,"height":11}},{"id":"9ffdbde9-50fc-40a0-bc57-71cd6aa00502","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":199,"box":{"x":62,"y":326,"width":755,"height":12}},{"id":"49701689-1dd3-4387-ad12-de0a3373f6bd","block_type":"box","text":"Permitted derivatives","page_number":199,"box":{"x":72,"y":370,"width":168,"height":9}},{"id":"29e3b6ad-7d74-4744-aeea-bc66a59064ab","block_type":"box","text":"Permitted?","page_number":199,"box":{"x":383,"y":370,"width":85,"height":9}},{"id":"c0453534-7173-42e3-9d9e-a91e2ecd3b6d","block_type":"box","text":"Prohibited?","page_number":199,"box":{"x":489,"y":370,"width":91,"height":9}},{"id":"033e0112-1175-4ab9-a35d-8f08e14365f5","block_type":"box","text":"Equity index futures","page_number":199,"box":{"x":72,"y":391,"width":146,"height":11}},{"id":"a8a9ff16-c16c-4043-b920-53b64368be02","block_type":"box","text":"√","page_number":199,"box":{"x":421,"y":391,"width":8,"height":8}},{"id":"fb21025f-fafd-4396-94a0-196e48289ea7","block_type":"box","text":"Government bond futures","page_number":199,"box":{"x":72,"y":409,"width":188,"height":9}},{"id":"89a577e2-58c0-4387-9b9d-f06bdbce5866","block_type":"box","text":"√","page_number":199,"box":{"x":530,"y":409,"width":8,"height":8}},{"id":"0b4e8aae-83f6-44f0-9348-819b6fc68855","block_type":"box","text":"Equity index options","page_number":199,"box":{"x":72,"y":427,"width":148,"height":11}},{"id":"23d3b40e-ae44-462e-9b1c-9264e55cddaa","block_type":"box","text":"√","page_number":199,"box":{"x":530,"y":428,"width":8,"height":7}},{"id":"e9fa0c8e-36c4-4263-856c-f465f955efde","block_type":"box","text":"Forward foreign exchange","page_number":199,"box":{"x":72,"y":446,"width":193,"height":11}},{"id":"101e7d80-1f31-49d9-9f6b-de621c4a1bdf","block_type":"box","text":"√","page_number":199,"box":{"x":421,"y":446,"width":8,"height":8}},{"id":"42d08b5b-6537-4a1a-81c1-cbb1a6ef691c","block_type":"box","text":"Index credit default swaps","page_number":199,"box":{"x":72,"y":464,"width":192,"height":11}},{"id":"a226ab49-dbea-4681-a4ef-d05236ed192c","block_type":"box","text":"√","page_number":199,"box":{"x":530,"y":465,"width":8,"height":7}},{"id":"54c76722-dcc2-4753-81aa-385eb80e7943","block_type":"box","text":"Interest rate swaps","page_number":199,"box":{"x":72,"y":483,"width":140,"height":11}},{"id":"1b2f9c5c-d856-400b-bf9f-f2dd5491889a","block_type":"box","text":"√","page_number":199,"box":{"x":530,"y":483,"width":8,"height":8}},{"id":"8f290820-f7c1-4168-af8d-45f5c66d5970","block_type":"box","text":"OTC equity options","page_number":199,"box":{"x":72,"y":501,"width":142,"height":11}},{"id":"5f9aed6a-570c-4fe3-938b-fd36c68d6e6a","block_type":"box","text":"√","page_number":199,"box":{"x":530,"y":501,"width":8,"height":8}},{"id":"ea79e620-8f30-49a5-8c36-fd2072903205","block_type":"box","text":"Inflation swaps","page_number":199,"box":{"x":72,"y":519,"width":109,"height":11}},{"id":"b311d357-678d-4c3d-8e71-3726b0a428d9","block_type":"box","text":"√","page_number":199,"box":{"x":530,"y":520,"width":8,"height":7}},{"id":"4bd48efe-2572-4088-89a5-6ce09dc546f3","block_type":"box","text":"Cross currency swaps","page_number":199,"box":{"x":72,"y":538,"width":163,"height":11}},{"id":"e0827d1e-935e-4bfc-9b35-cd18a05ad7e5","block_type":"box","text":"√","page_number":199,"box":{"x":530,"y":538,"width":8,"height":8}},{"id":"60864097-ae60-42a2-a5d1-15390f158057","block_type":"box","text":"Equity TRS - single name","page_number":199,"box":{"x":72,"y":554,"width":188,"height":11}},{"id":"fa4d0d46-b314-40bd-b095-35908b71b471","block_type":"box","text":"√","page_number":199,"box":{"x":421,"y":557,"width":8,"height":7}},{"id":"336ad1d6-9c43-4187-b001-60d436ebe843","block_type":"box","text":"Equity TRS - index","page_number":199,"box":{"x":72,"y":572,"width":138,"height":12}},{"id":"7a79ad15-10c5-42d3-b2b5-bdb43228ca7d","block_type":"box","text":"√","page_number":199,"box":{"x":421,"y":575,"width":8,"height":8}},{"id":"de8be451-01f8-4c42-8670-d06fe2ef3f4c","block_type":"box","text":"Other","page_number":199,"box":{"x":72,"y":593,"width":41,"height":9}},{"id":"713e55d5-7a64-4e22-b4ed-1ba9adbef80c","block_type":"box","text":"√","page_number":199,"box":{"x":530,"y":593,"width":8,"height":8}},{"id":"ef77d2d6-5993-440b-ba8f-7f121228bf16","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":199,"box":{"x":63,"y":621,"width":860,"height":11}},{"id":"0e40aaff-a59c-412f-809f-72d9107cc7ff","block_type":"box","text":"2)","page_number":199,"box":{"x":62,"y":635,"width":13,"height":11}},{"id":"1e38f032-8884-4684-b47b-d4ebb5367606","block_type":"box","text":"Leverage Limits","page_number":199,"box":{"x":63,"y":662,"width":128,"height":11}},{"id":"d71ff567-54fd-4112-9481-e14fbcb6fb4d","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":199,"box":{"x":200,"y":662,"width":722,"height":11}},{"id":"67232a69-d12b-469e-b770-5c605aace3d0","block_type":"box","text":"Regime):","page_number":199,"box":{"x":63,"y":675,"width":65,"height":12}},{"id":"cf6644d8-1893-4d5a-9ab1-f8cf1b18c062","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":199,"box":{"x":62,"y":703,"width":471,"height":11}},{"id":"d17c9a28-7997-4bd9-a91a-dc46944bb2cd","block_type":"box","text":"","page_number":199,"box":{"x":62,"y":734,"width":6,"height":5}},{"id":"3ce45b73-f795-4a3c-a643-b41812a8f0c9","block_type":"box","text":"Gross Method: Up to 1.1:1","page_number":199,"box":{"x":92,"y":731,"width":193,"height":11}},{"id":"472d0f35-3a8f-4b16-a1e9-f6d19648e3e9","block_type":"box","text":"","page_number":199,"box":{"x":62,"y":751,"width":6,"height":4}},{"id":"67286062-d4e0-4a07-b4cc-0ba12ca5ce44","block_type":"box","text":"Commitment: Up to 1.1:1","page_number":199,"box":{"x":92,"y":747,"width":183,"height":12}},{"id":"b619c7d6-8380-4a8e-858c-dcda829f202f","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":199,"box":{"x":62,"y":775,"width":860,"height":11}},{"id":"d264e925-3f23-4513-855a-62323bc74990","block_type":"box","text":"which case leverage will not exceed the following:","page_number":199,"box":{"x":62,"y":789,"width":368,"height":11}},{"id":"aac834a4-0a81-47b9-9a30-36cfc37def06","block_type":"box","text":"","page_number":199,"box":{"x":62,"y":820,"width":6,"height":4}},{"id":"e698eee0-5da5-4e9d-a25d-d0a8def5768e","block_type":"box","text":"Gross Method: Up to 2:1","page_number":199,"box":{"x":92,"y":817,"width":179,"height":11}},{"id":"8d0a09c5-a94f-4ad1-ab19-ffd2f6a4ce40","block_type":"box","text":"","page_number":199,"box":{"x":62,"y":837,"width":6,"height":4}},{"id":"569ebce9-18f9-4570-bee8-58b20bfa44cf","block_type":"box","text":"Commitment: Up to 1.5:1","page_number":199,"box":{"x":92,"y":833,"width":183,"height":12}},{"id":"98f73e3d-5f78-447c-81cd-370a3553a69d","block_type":"box","text":"Specific Risks","page_number":199,"box":{"x":62,"y":877,"width":113,"height":11}},{"id":"4bb4570c-4ad3-4fd8-8b39-51e2ec61e9e2","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":199,"box":{"x":181,"y":877,"width":462,"height":11}},{"id":"6b74ff4f-ba5a-4c69-9d27-cc7670c275d4","block_type":"box","text":"","page_number":199,"box":{"x":62,"y":900,"width":6,"height":5}},{"id":"b9e44c90-f5e5-4894-99a9-5ac9dba852b4","block_type":"box","text":"Single Market","page_number":199,"box":{"x":92,"y":897,"width":102,"height":11}},{"id":"9bd8ab0f-48f1-4029-b6c6-a43d18bd66bb","block_type":"box","text":"","page_number":199,"box":{"x":62,"y":915,"width":6,"height":4}},{"id":"7cbb441b-e6e2-4747-a133-3cf4a9062bb2","block_type":"box","text":"Equity Securities","page_number":199,"box":{"x":93,"y":911,"width":123,"height":12}},{"id":"53aa0c24-4038-41b4-876e-bda141f6d33c","block_type":"box","text":"","page_number":199,"box":{"x":62,"y":929,"width":6,"height":4}},{"id":"4401f1a4-0da0-4883-85bd-33f3515e1a3f","block_type":"box","text":"Benchmark Indices","page_number":199,"box":{"x":93,"y":926,"width":140,"height":9}},{"id":"a3059005-0043-4e59-b002-924c84d6cd22","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":200,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"b182da4e-95e2-408f-8ada-65014b56c6cc","block_type":"box","text":"200","page_number":200,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"8be1ab0b-b0f6-4d0a-871e-75c328c9b1d5","block_type":"box","text":"Aviva Investors: Confidential","page_number":200,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"8377134c-afe8-4928-b2a9-e8b02165837e","block_type":"box","text":"","page_number":200,"box":{"x":62,"y":57,"width":6,"height":4}},{"id":"cdf84aea-c103-424e-aaf8-523036a627a2","block_type":"box","text":"Index-Related Risk","page_number":200,"box":{"x":93,"y":54,"width":140,"height":8}},{"id":"3ee8321c-082b-45ff-b85b-e4e64b53d791","block_type":"box","text":"","page_number":200,"box":{"x":62,"y":71,"width":6,"height":4}},{"id":"cb94ee43-bd79-41d6-aafe-33df4c40222e","block_type":"box","text":"Tracking Error","page_number":200,"box":{"x":92,"y":68,"width":106,"height":11}},{"id":"80134120-e962-4cc3-96cc-4fa28eb20eb7","block_type":"box","text":"Past Performance – Aviva Investors UK Equity Core Fund","page_number":200,"box":{"x":72,"y":114,"width":457,"height":11}},{"id":"8466d041-3267-4664-804a-75307c4b669d","block_type":"box","text":"% Growth","page_number":200,"box":{"x":71,"y":133,"width":77,"height":9}},{"id":"aa45c3d4-9423-4d21-9fae-7c39f486fbeb","block_type":"box","text":"1/1/2024 to","page_number":200,"box":{"x":300,"y":159,"width":81,"height":8}},{"id":"e34c4902-b437-4f98-bf16-ad2d3f77675a","block_type":"box","text":"31/12/2024","page_number":200,"box":{"x":299,"y":171,"width":75,"height":8}},{"id":"10e9893e-00a4-42b7-8972-b0b7b9613301","block_type":"box","text":"1/1/2023 to","page_number":200,"box":{"x":400,"y":159,"width":81,"height":8}},{"id":"af0b60a5-f6ff-4ffd-923a-b1ffc5c1b82a","block_type":"box","text":"31/12/2023","page_number":200,"box":{"x":399,"y":171,"width":75,"height":8}},{"id":"7013abed-2e0d-48c6-b0dd-e861f0caff7a","block_type":"box","text":"1/1/2022 to","page_number":200,"box":{"x":501,"y":159,"width":81,"height":8}},{"id":"4325cf6f-c80f-4744-a532-2343d02ae6cb","block_type":"box","text":"31/12/2022","page_number":200,"box":{"x":500,"y":171,"width":75,"height":8}},{"id":"5539c28b-6190-470e-9763-0f6fd43f27b5","block_type":"box","text":"1/1/2021 to","page_number":200,"box":{"x":602,"y":159,"width":87,"height":8}},{"id":"4b7c151d-9498-4eda-a429-ea3c79077f21","block_type":"box","text":"31/12/2021","page_number":200,"box":{"x":601,"y":171,"width":73,"height":8}},{"id":"e5aabadf-5038-468f-82f6-8af028b87076","block_type":"box","text":"1/1/2020 to","page_number":200,"box":{"x":709,"y":159,"width":93,"height":8}},{"id":"390f3e1a-3bf1-426a-bab1-42b72c663a91","block_type":"box","text":"31/12/2020","page_number":200,"box":{"x":708,"y":171,"width":75,"height":8}},{"id":"0da46726-0898-4378-9d8f-23ef675e862f","block_type":"box","text":"UK Corporate Income","page_number":200,"box":{"x":72,"y":196,"width":208,"height":10}},{"id":"69bfc181-eb2f-40ce-952b-fbab4e62a7cc","block_type":"box","text":"Distribution Units (%)","page_number":200,"box":{"x":72,"y":208,"width":140,"height":10}},{"id":"e89f0a82-9ad1-42b2-92c7-710f204ef23c","block_type":"box","text":"Insured Pension Income","page_number":200,"box":{"x":72,"y":233,"width":208,"height":8}},{"id":"8d899598-8f03-42f9-9258-b3b3e932a3ae","block_type":"box","text":"Distribution Units (%)","page_number":200,"box":{"x":72,"y":245,"width":140,"height":10}},{"id":"ad37a282-cb4b-457e-88c0-bb004295a54b","block_type":"box","text":"UK Institutional Accumulation","page_number":200,"box":{"x":72,"y":270,"width":207,"height":8}},{"id":"3634e28f-7745-4225-a9fa-ad4378efdaea","block_type":"box","text":"Units (%)","page_number":200,"box":{"x":72,"y":282,"width":60,"height":10}},{"id":"1be49dde-ab8c-414c-bf3f-52dba6eb2284","block_type":"box","text":"ACS (Fund of Fund)","page_number":200,"box":{"x":71,"y":307,"width":208,"height":10}},{"id":"01adaa50-5066-475e-bf35-26de660a8e71","block_type":"box","text":"Accumulation Units Class 1 (%)","page_number":200,"box":{"x":71,"y":319,"width":208,"height":10}},{"id":"a6dff515-c575-4d0f-9ec0-63cc0574b158","block_type":"box","text":"ACS (Fund of Fund)","page_number":200,"box":{"x":71,"y":344,"width":208,"height":10}},{"id":"04eb29ae-7a9c-476d-ab6b-d3ed56ccac29","block_type":"box","text":"Accumulation Units Class 2 (%)","page_number":200,"box":{"x":71,"y":356,"width":208,"height":10}},{"id":"aa1cd5db-fecb-4adf-9c13-84dac4c4ae1b","block_type":"box","text":"UK Corporate Accumulation","page_number":200,"box":{"x":72,"y":381,"width":207,"height":10}},{"id":"e828b5c3-8e38-425e-b4b1-09e73e30afa9","block_type":"box","text":"Units (%)","page_number":200,"box":{"x":72,"y":393,"width":60,"height":10}},{"id":"7c277c7d-db27-4d10-9e13-61e003e7d963","block_type":"box","text":"7.47","page_number":200,"box":{"x":299,"y":382,"width":29,"height":7}},{"id":"b475a586-2b1e-4e57-9315-7a7ca7e6c7d9","block_type":"box","text":"7.86","page_number":200,"box":{"x":400,"y":382,"width":28,"height":7}},{"id":"e51a64da-ad8e-46e7-8b4c-3a220c138b69","block_type":"box","text":"N/A","page_number":200,"box":{"x":501,"y":381,"width":24,"height":8}},{"id":"4adaae9e-315a-4984-a4c4-82bf528bbcec","block_type":"box","text":"N/A","page_number":200,"box":{"x":602,"y":381,"width":23,"height":8}},{"id":"b345283d-0d1b-4964-921e-45034e43ac62","block_type":"box","text":"N/A","page_number":200,"box":{"x":709,"y":381,"width":24,"height":8}},{"id":"9be4ef7e-36f0-44b5-92a6-d586f4c4e798","block_type":"box","text":"Insured Pension Accumulation","page_number":200,"box":{"x":72,"y":424,"width":207,"height":8}},{"id":"8aedf99b-acf7-4f92-b838-deb704c76d1a","block_type":"box","text":"Units (%)","page_number":200,"box":{"x":72,"y":436,"width":60,"height":10}},{"id":"9ad062f1-67c7-4dfe-bdb0-0f3642f5f48a","block_type":"box","text":"7.48","page_number":200,"box":{"x":299,"y":425,"width":28,"height":7}},{"id":"d410bdfc-3ccb-479f-be0b-02fe60030f7c","block_type":"box","text":"7.87","page_number":200,"box":{"x":400,"y":425,"width":28,"height":7}},{"id":"fa7ea949-694f-490a-b495-d1ebb4c42698","block_type":"box","text":"N/A","page_number":200,"box":{"x":501,"y":424,"width":24,"height":8}},{"id":"779a1492-2f64-455a-8aef-017d6272b450","block_type":"box","text":"N/A","page_number":200,"box":{"x":602,"y":424,"width":23,"height":8}},{"id":"1c17a297-af18-439a-86c4-d76b960ba3ce","block_type":"box","text":"N/A","page_number":200,"box":{"x":709,"y":424,"width":24,"height":8}},{"id":"b2710a11-a834-4f1d-bc61-f95d184f7e5d","block_type":"box","text":"UK Fund of Fund Accumulation","page_number":200,"box":{"x":72,"y":467,"width":207,"height":8}},{"id":"6df538ae-f2f3-4814-80a1-d2aaff135940","block_type":"box","text":"Units (%)","page_number":200,"box":{"x":72,"y":480,"width":60,"height":10}},{"id":"3eea6535-9c91-48e8-abf0-59032faec9dc","block_type":"box","text":"MSCI® United Kingdom Equity","page_number":200,"box":{"x":72,"y":507,"width":210,"height":10}},{"id":"2d89f70a-4fd5-41a4-9417-36d42b6fde0b","block_type":"box","text":"ex Tobacco Index (GBP)","page_number":200,"box":{"x":72,"y":520,"width":165,"height":10}},{"id":"84fbc94b-509b-4a98-aaba-2791769bd499","block_type":"box","text":"8.41","page_number":200,"box":{"x":300,"y":508,"width":27,"height":7}},{"id":"137e98f3-7dcd-46d3-9062-2895fac3f34b","block_type":"box","text":"9.06","page_number":200,"box":{"x":400,"y":508,"width":30,"height":7}},{"id":"75c063a7-faeb-4b7b-a0ee-f9d027740a61","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":201,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"c77b40dd-2724-4e59-8cb6-994381d12c08","block_type":"box","text":"201","page_number":201,"box":{"x":780,"y":940,"width":17,"height":6}},{"id":"31dd865c-34af-49d4-8e22-32971fb0829f","block_type":"box","text":"Aviva Investors: Confidential","page_number":201,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"729be440-9020-424a-8533-39b36e5bf51d","block_type":"box","text":"Aviva Investors Europe Equity ex UK Core Fund","page_number":201,"box":{"x":62,"y":53,"width":382,"height":11}},{"id":"2a5811c0-808a-437a-a23c-7925fcec9047","block_type":"box","text":"FCA product reference number: 985191","page_number":201,"box":{"x":63,"y":72,"width":310,"height":11}},{"id":"1c77e12c-ef2d-48b9-948d-03975ec2a700","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":201,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"b9718f64-188c-4890-9821-a4eda1ec3e5d","block_type":"box","text":"was authorised by the FCA on 12 October 2022.","page_number":201,"box":{"x":62,"y":125,"width":357,"height":11}},{"id":"99eecd58-7c7d-4a28-8c92-c54cc7ee0310","block_type":"box","text":"Investment Objective and Policy","page_number":201,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"97da65c9-8228-41e7-b612-e41ace5d1fd0","block_type":"box","text":"The Sub-Fund aims to deliver returns which are similar to the returns of the MSCI® Europe ex UK Index (GBP) (the","page_number":201,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"5e5a78b1-a6ae-4e68-b357-8774b1ade884","block_type":"box","text":"“","page_number":201,"box":{"x":62,"y":197,"width":5,"height":3}},{"id":"a324922d-9b1e-4b57-a420-014a10931bcd","block_type":"box","text":"Index","page_number":201,"box":{"x":68,"y":198,"width":43,"height":8}},{"id":"dbc25b26-17f7-4b4a-94c4-f7f22fb2c49b","block_type":"box","text":"”) over a rolling 12 month period (before charges and taxes) whilst investing in accordance with the investment","page_number":201,"box":{"x":111,"y":197,"width":812,"height":12}},{"id":"461b2ebf-629d-4135-8f73-a575646e4ab0","block_type":"box","text":"strategy of the Sub-Fund.","page_number":201,"box":{"x":62,"y":211,"width":187,"height":11}},{"id":"0ccd60ee-04fa-4231-917a-08541a9c276e","block_type":"box","text":"Core investment:","page_number":201,"box":{"x":62,"y":250,"width":135,"height":9}},{"id":"f66e375f-7d06-4bc9-8c14-b0e4a63117e2","block_type":"box","text":"The Sub-Fund will invest to form a portfolio representative of the core regional market, as represented by the Index.","page_number":201,"box":{"x":62,"y":270,"width":860,"height":11}},{"id":"3d1d3015-05af-4f3f-ad23-1e0964588a75","block_type":"box","text":"It will therefore invest a minimum of 80% in shares of companies that make up the Index.","page_number":201,"box":{"x":63,"y":283,"width":656,"height":12}},{"id":"9396f348-1988-46a1-afec-8fa4fa2c4927","block_type":"box","text":"Other investments:","page_number":201,"box":{"x":62,"y":323,"width":151,"height":8}},{"id":"1b800a1e-1240-42c3-85bb-8f962733c4f7","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies),","page_number":201,"box":{"x":62,"y":342,"width":860,"height":12}},{"id":"61ca67b5-726d-4035-a0e0-e4bb13eb9867","block_type":"box","text":"money market instruments, cash and deposits. Derivatives and forward transaction may be used from time to time to","page_number":201,"box":{"x":62,"y":356,"width":861,"height":11}},{"id":"11c13eba-f029-4a7f-9860-12d6f7cfcf96","block_type":"box","text":"gain a particular market exposure which would otherwise be difficult or costly to achieve, to manage the Sub-Fund’s","page_number":201,"box":{"x":62,"y":369,"width":861,"height":12}},{"id":"a695f7ae-2f57-45b2-9073-eed07ab7602b","block_type":"box","text":"cash flows in a cost-effective manner, or to reduce foreign currency risk within the Sub-Fund.","page_number":201,"box":{"x":62,"y":383,"width":687,"height":11}},{"id":"4d9d6078-3e13-4043-9c9a-ce47203c1077","block_type":"box","text":"Investment Strategy and ESG Overlay","page_number":201,"box":{"x":62,"y":422,"width":301,"height":12}},{"id":"6691a502-22d9-4579-943e-b0a2fdbcfa92","block_type":"box","text":"□","page_number":201,"box":{"x":364,"y":424,"width":5,"height":3}},{"id":"be1f9d7b-9f48-4987-b282-a62fecadc981","block_type":"box","text":"□","page_number":201,"box":{"x":370,"y":424,"width":5,"height":3}},{"id":"7b05a82e-c884-4bfc-a2ac-25c6f73398fc","block_type":"box","text":":","page_number":201,"box":{"x":378,"y":425,"width":1,"height":6}},{"id":"10959b56-5567-4c07-9944-d56e00414042","block_type":"box","text":"The Fund does not have any sustainability-related investment objectives. However, when selecting companies, the","page_number":201,"box":{"x":62,"y":442,"width":861,"height":11}},{"id":"e5fa7dd8-4ad8-441b-9d48-dd3468f37bae","block_type":"box","text":"Investment Manager uses a passive sampling approach together with the Aviva Investors’ baseline exclusion policy","page_number":201,"box":{"x":63,"y":456,"width":860,"height":11}},{"id":"8d16c394-12f3-42ac-af3d-0bacd25ab846","block_type":"box","text":"and an active ESG Overlay (as described below). The Fund’s strategy is designed to deliver, on average over a 12","page_number":201,"box":{"x":62,"y":469,"width":860,"height":12}},{"id":"378d2f24-1d62-41c6-83ea-5cda61013ab9","block_type":"box","text":"month rolling period, a higher ESG score and a lower carbon intensity score than the Index (measured using month","page_number":201,"box":{"x":62,"y":483,"width":860,"height":11}},{"id":"8f801a51-b33c-4307-97d4-cf1758941640","block_type":"box","text":"end data), whilst also seeking to minimise the Fund’s tracking error to that Index. This means that the portfolio is","page_number":201,"box":{"x":62,"y":497,"width":861,"height":11}},{"id":"2e0b9060-155d-414a-a4e6-20d874fa849f","block_type":"box","text":"created by first removing the excluded companies from the Index universe, then either overweighting, underweighting","page_number":201,"box":{"x":62,"y":510,"width":860,"height":12}},{"id":"70ab0649-5b57-47b6-a7bd-55d3f6b406fb","block_type":"box","text":"or excluding holdings relative to the Index based on both their ESG scores and carbon intensity scores (the ESG","page_number":201,"box":{"x":62,"y":524,"width":860,"height":11}},{"id":"e31a5c78-18e0-4253-8bcc-fe18a662f1a6","block_type":"box","text":"Overlay) and potential to deliver returns similar to the Index. Individual holdings do not need to achieve a specific or","page_number":201,"box":{"x":62,"y":537,"width":861,"height":12}},{"id":"cc55e6d4-02ef-45a3-b2d3-fcf80c3c53fd","block_type":"box","text":"minimum ESG score or maximum carbon intensity score to be selected for investment, and therefore the Sub-Fund","page_number":201,"box":{"x":62,"y":551,"width":860,"height":11}},{"id":"682fd373-7c91-4f3f-a59e-8232f7423711","block_type":"box","text":"will hold companies that could be considered to have low ESG scores or high carbon intensity scores.","page_number":201,"box":{"x":62,"y":565,"width":752,"height":11}},{"id":"6073be73-b77c-451f-917e-cca34cc518b6","block_type":"box","text":"The Investment Manager will also seek to minimise the Sub-Fund’s tracking error to the Index. However, the ESG","page_number":201,"box":{"x":62,"y":592,"width":860,"height":12}},{"id":"16cb65ef-2e51-4949-91d5-0768bbf61574","block_type":"box","text":"Overlay may limit the choice of investments available to the Sub-Fund and therefore it may not perform in line (either","page_number":201,"box":{"x":62,"y":606,"width":862,"height":11}},{"id":"eeccc8c8-9981-4e1d-b2a7-69a8a1b30faf","block_type":"box","text":"positively or negatively) with the Index or other similar funds that have a broader investment policy.","page_number":201,"box":{"x":62,"y":619,"width":731,"height":12}},{"id":"56230b9b-eb1c-4e10-ba5c-291df050608d","block_type":"box","text":"ESG scores assess a company’s resilience to financially material environmental, societal and governance risks, in","page_number":201,"box":{"x":63,"y":647,"width":859,"height":11}},{"id":"72ba820a-abd9-41fb-8341-82b5cf21e5ca","block_type":"box","text":"each case being risks to their financial performance relative to other companies in the same sector. Carbon intensity","page_number":201,"box":{"x":62,"y":660,"width":861,"height":12}},{"id":"3ac1ff70-310d-44ae-b438-cb183f492ae3","block_type":"box","text":"scores measure how carbon-intensive a company’s activities are and provides a comparable metric for assessment","page_number":201,"box":{"x":62,"y":674,"width":861,"height":11}},{"id":"bc91c8a4-ba5f-43eb-9401-04402ccc648a","block_type":"box","text":"against peers, portfolios and benchmarks.","page_number":201,"box":{"x":62,"y":688,"width":310,"height":11}},{"id":"4b9d7237-5fb1-43c1-8da9-580df67a2357","block_type":"box","text":"The Sub-Fund’s holdings will be reviewed and, if necessary, rebalanced quarterly and/or on an ad hoc basis when","page_number":201,"box":{"x":62,"y":715,"width":860,"height":11}},{"id":"258ee45a-4431-4429-9b98-876916a78578","block_type":"box","text":"the Investment Manager is of the opinion that market conditions dictate, taking into account any changes to companies","page_number":201,"box":{"x":62,"y":729,"width":861,"height":11}},{"id":"2cc085d3-e2cf-4e7f-8289-a74f2a7ea126","block_type":"box","text":"in the Index, the latest available data and market conditions.","page_number":201,"box":{"x":62,"y":743,"width":444,"height":10}},{"id":"6e73b0f1-5070-4542-b4b3-30e012f9dc71","block_type":"box","text":"Further information on the ESG Overlay is set out in Appendix 4. Further information on the baseline","page_number":201,"box":{"x":63,"y":776,"width":860,"height":11}},{"id":"80dcc5ad-ca82-4b3b-bd51-999e94b7f8c4","block_type":"box","text":"exclusion policy is set out in Appendix 2.","page_number":201,"box":{"x":62,"y":789,"width":327,"height":12}},{"id":"9b0471f5-de0c-4dd6-9ae2-ff6969ef3d10","block_type":"box","text":"Performance & Risk Strategy:","page_number":201,"box":{"x":63,"y":829,"width":234,"height":11}},{"id":"9d652524-dadc-44cb-92d8-76d235b58567","block_type":"box","text":"The Sub-Fund’s performance is measured against the Index over a rolling 12 month period, before charges and taxes.","page_number":201,"box":{"x":62,"y":848,"width":860,"height":11}},{"id":"0c84e5be-e475-4c7c-b597-709f8bd21cd0","block_type":"box","text":"However, the Sub-Fund will not hold every company in the Index and may also hold investments that do not form part","page_number":201,"box":{"x":63,"y":862,"width":860,"height":11}},{"id":"fde09b4f-1a53-42e8-b4ed-995f5fa46357","block_type":"box","text":"of the Index.","page_number":201,"box":{"x":62,"y":875,"width":90,"height":9}},{"id":"d7992684-2d06-425a-8c0e-305397186620","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund’s returns and the returns of","page_number":201,"box":{"x":62,"y":903,"width":861,"height":11}},{"id":"c38247f2-2fca-4fbe-bb58-efcf94fd0fc8","block_type":"box","text":"the Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":201,"box":{"x":62,"y":916,"width":860,"height":12}},{"id":"a9999c1a-ee9e-455b-86a2-c381b69df65b","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":202,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"ad858157-e539-4c69-8728-b8a3b29000ff","block_type":"box","text":"202","page_number":202,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"ae37849c-25f4-4b99-b5b5-3697d30673e6","block_type":"box","text":"Aviva Investors: Confidential","page_number":202,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"72fd2013-9de2-4df8-a613-d4a699e289bc","block_type":"box","text":"and vice-versa. The Sub-Fund is expected to have an average yearly tracking error of between 0% and 0.70% when","page_number":202,"box":{"x":62,"y":52,"width":860,"height":12}},{"id":"4a252187-15b2-4192-8424-796cc3c5115a","block_type":"box","text":"compared to the Index (excluding charges and taxes). However, there may be times when the Sub-Fund operates","page_number":202,"box":{"x":62,"y":66,"width":861,"height":11}},{"id":"f15025c9-5a1e-4fef-837e-1ee1f05d1286","block_type":"box","text":"outside of this range. The Investment Manager will review the tracking error range on a periodic basis and, if","page_number":202,"box":{"x":62,"y":80,"width":861,"height":11}},{"id":"05fa25e1-12f0-4eb4-8c85-a0930205221f","block_type":"box","text":"appropriate, may update the range by updating this Prospectus.","page_number":202,"box":{"x":62,"y":94,"width":471,"height":11}},{"id":"f56d3f01-4b54-44b8-98c5-f27144fdcebb","block_type":"box","text":"The Index comprises large and medium sized companies across developed markets in Europe, excluding the UK,","page_number":202,"box":{"x":62,"y":121,"width":860,"height":11}},{"id":"f4b650b2-3afe-4efd-a34e-a7d2bd2e1249","block_type":"box","text":"covering 85% of the free float-adjusted market capitalisation across European developed markets. The Index has","page_number":202,"box":{"x":62,"y":134,"width":861,"height":12}},{"id":"c01a8580-7dfd-4a1a-9c49-88691fe24627","block_type":"box","text":"been selected as a measure for performance because it is representative of the type of assets in which the Sub-Fund","page_number":202,"box":{"x":62,"y":148,"width":860,"height":11}},{"id":"53c9967a-0720-45da-af5d-9b5f7ac3f17f","block_type":"box","text":"is likely to invest, and it is therefore an appropriate measure for the Sub-Fund’s performance.","page_number":202,"box":{"x":62,"y":162,"width":688,"height":11}},{"id":"b47b1e5e-a25d-4d98-8425-06ed76cdbafe","block_type":"box","text":"To allow assessment of the Sub-Fund’s ESG outcomes, the ESG score and carbon intensity scores of the Sub-Fund,","page_number":202,"box":{"x":62,"y":189,"width":860,"height":11}},{"id":"71b34f78-08c3-40b2-abaa-f23cdc2b9a17","block_type":"box","text":"compared to those of the Index, will be reported to investors quarterly based on the latest 12 month rolling data.","page_number":202,"box":{"x":62,"y":203,"width":826,"height":11}},{"id":"fe473f00-31ec-4e71-b176-6398a5bcaf50","block_type":"box","text":"Additional Information","page_number":202,"box":{"x":62,"y":242,"width":177,"height":9}},{"id":"34e6b667-1d05-46c3-9db8-f3271221ebf2","block_type":"box","text":"Investment Manager","page_number":202,"box":{"x":118,"y":268,"width":151,"height":11}},{"id":"ec92c910-eb58-413e-a250-be2bc265d1b1","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":202,"box":{"x":352,"y":268,"width":294,"height":9}},{"id":"e54d9d0c-77e0-433b-b138-ef76ae2410f1","block_type":"box","text":"Type of Units","page_number":202,"box":{"x":116,"y":294,"width":98,"height":11}},{"id":"ce518038-5bda-441f-a239-7bc9d432b947","block_type":"box","text":"UK Corporate Accumulation Units","page_number":202,"box":{"x":353,"y":294,"width":250,"height":11}},{"id":"2a71a08e-1486-4d39-b99a-18207f9b5456","block_type":"box","text":"Insured Pension Accumulation Units","page_number":202,"box":{"x":354,"y":321,"width":267,"height":8}},{"id":"5f55f2d6-984f-47cd-b4fa-d528e03f6ce9","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":202,"box":{"x":353,"y":346,"width":275,"height":9}},{"id":"78032868-6c64-4f86-8b0b-2e2a2ab46214","block_type":"box","text":"Dealing Day","page_number":202,"box":{"x":118,"y":373,"width":89,"height":11}},{"id":"ceabe903-174d-4a95-ad46-a7e551ad5da3","block_type":"box","text":"Each Business Day","page_number":202,"box":{"x":354,"y":373,"width":143,"height":11}},{"id":"7491ea36-d318-4a1d-baa6-1b5141a48954","block_type":"box","text":"Deal Cut-Off Point","page_number":202,"box":{"x":118,"y":399,"width":134,"height":9}},{"id":"3278b007-134a-4f92-9bd6-af1eb510b255","block_type":"box","text":"12.00 noon","page_number":202,"box":{"x":354,"y":399,"width":81,"height":9}},{"id":"b0f8f731-4e4a-455a-b589-de6ce0d5c751","block_type":"box","text":"Valuation Point","page_number":202,"box":{"x":117,"y":425,"width":112,"height":9}},{"id":"3dad2960-28bf-47dc-b5ca-0c3d3efd86c2","block_type":"box","text":"3.00 pm","page_number":202,"box":{"x":353,"y":425,"width":59,"height":11}},{"id":"6d193156-c7e3-4e02-9632-8714935acde4","block_type":"box","text":"*Minimum Investment","page_number":202,"box":{"x":117,"y":451,"width":172,"height":9}},{"id":"8131b2cb-590e-4e18-8dae-8e75d35313eb","block_type":"box","text":"UK Corporate Accumulation","page_number":202,"box":{"x":118,"y":477,"width":205,"height":11}},{"id":"5486153e-9e47-4a63-abb4-a469c694f18c","block_type":"box","text":"Units, Insured Pension","page_number":202,"box":{"x":118,"y":491,"width":166,"height":10}},{"id":"63963c5e-0b25-4928-b72d-1075e65a3fe1","block_type":"box","text":"Accumulation Units","page_number":202,"box":{"x":116,"y":504,"width":143,"height":9}},{"id":"43d00a23-5ecd-4347-82eb-fc9a55d5e1a5","block_type":"box","text":"UK Fund of Fund","page_number":202,"box":{"x":118,"y":524,"width":125,"height":9}},{"id":"3e5d86d0-03a8-4832-abb9-f6e6b70d6386","block_type":"box","text":"Accumulation Units","page_number":202,"box":{"x":116,"y":538,"width":143,"height":9}},{"id":"adef08c7-8dfb-40e4-b01b-e557520187b7","block_type":"box","text":"No minimum","page_number":202,"box":{"x":353,"y":477,"width":92,"height":9}},{"id":"baa0cb59-3e68-484a-aec9-c182cd1782b7","block_type":"box","text":"Minimum withdrawal","page_number":202,"box":{"x":117,"y":564,"width":150,"height":9}},{"id":"0d0ced95-d798-435f-a910-594eddad3d36","block_type":"box","text":"No minimum","page_number":202,"box":{"x":353,"y":564,"width":92,"height":9}},{"id":"13c54e48-dd3e-4ae0-a712-9612ca5f60bf","block_type":"box","text":"Tax Criteria for investment","page_number":202,"box":{"x":116,"y":590,"width":213,"height":9}},{"id":"b2d865e7-e740-498b-92b6-1de75b1fc1d1","block_type":"box","text":"UK Corporate Accumulation","page_number":202,"box":{"x":118,"y":616,"width":205,"height":11}},{"id":"f25a70b3-00cb-458a-8423-7e81adf5e484","block_type":"box","text":"Units","page_number":202,"box":{"x":118,"y":630,"width":36,"height":8}},{"id":"8ac07ae4-c07f-48cb-ac78-89f4041b0b14","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":202,"box":{"x":352,"y":616,"width":404,"height":11}},{"id":"faf8f1b0-9595-4a7f-84a0-0d310eded84d","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":202,"box":{"x":353,"y":630,"width":404,"height":11}},{"id":"0a634bb9-d090-4eb1-b094-3e4ddcafc7d7","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":202,"box":{"x":352,"y":643,"width":405,"height":11}},{"id":"9e549d37-2205-4301-9405-67e0a5d14815","block_type":"box","text":"linked pension business contracts.","page_number":202,"box":{"x":353,"y":657,"width":253,"height":11}},{"id":"5bdf34f3-5eeb-4423-9228-45522b29cef4","block_type":"box","text":"Insured Pension","page_number":202,"box":{"x":118,"y":683,"width":118,"height":9}},{"id":"002b0865-d1b4-45d8-9325-cf0f98a20f6e","block_type":"box","text":"Accumulation Units","page_number":202,"box":{"x":116,"y":697,"width":143,"height":9}},{"id":"82f1b52f-d0ca-46d0-adbd-2c71883d491d","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":202,"box":{"x":352,"y":683,"width":404,"height":11}},{"id":"8a216827-5491-448b-994a-5f153dc40db0","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":202,"box":{"x":353,"y":697,"width":404,"height":11}},{"id":"8b019b88-6e82-4a1b-a932-3022a9abee40","block_type":"box","text":"back exclusively its unit linked pension business","page_number":202,"box":{"x":353,"y":711,"width":404,"height":11}},{"id":"94f16d9f-ae50-4d31-af20-1df092b05217","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":202,"box":{"x":353,"y":724,"width":404,"height":11}},{"id":"fc3b0198-5ca7-42be-ae64-88fa0e392954","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":202,"box":{"x":353,"y":738,"width":307,"height":11}},{"id":"c77b6d3d-c7d4-45c8-9844-8a0777131af0","block_type":"box","text":"UK Fund of Fund","page_number":202,"box":{"x":118,"y":764,"width":125,"height":9}},{"id":"64ff1113-1511-47e1-8f90-4a88297ad563","block_type":"box","text":"Accumulation Units","page_number":202,"box":{"x":116,"y":778,"width":143,"height":8}},{"id":"358ed8f5-9dfb-42db-baf4-fd716741ec04","block_type":"box","text":"A sub-fund of a UK authorised Open-Ended Investment","page_number":202,"box":{"x":352,"y":764,"width":405,"height":11}},{"id":"69dab210-88e6-4ff0-8030-dc7e34b36576","block_type":"box","text":"Company which is part of or otherwise managed by the","page_number":202,"box":{"x":353,"y":777,"width":403,"height":12}},{"id":"2ef73f74-7374-4524-b4fa-fb1fcf765861","block_type":"box","text":"Aviva Group.","page_number":202,"box":{"x":352,"y":791,"width":96,"height":11}},{"id":"34cfe13b-2059-42e6-9e03-0b93300c1de7","block_type":"box","text":"**Current Charges:","page_number":202,"box":{"x":117,"y":817,"width":149,"height":12}},{"id":"b5835af2-bb34-430f-ae0f-9d854168ada8","block_type":"box","text":"UK Corporate Accumulation","page_number":202,"box":{"x":118,"y":843,"width":205,"height":11}},{"id":"c92c1725-b8dd-4069-9dad-c9ddcc478815","block_type":"box","text":"Units, Insured Pension","page_number":202,"box":{"x":118,"y":857,"width":166,"height":10}},{"id":"c91d37b8-9a3a-4ce3-9404-844e147777d5","block_type":"box","text":"Accumulation Units","page_number":202,"box":{"x":116,"y":871,"width":143,"height":9}},{"id":"5016767f-4329-4950-abc2-8aed9e3438f8","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":202,"box":{"x":352,"y":843,"width":404,"height":12}},{"id":"395ec6dc-23e6-4fe4-9aad-b6bbda549e12","block_type":"box","text":"Unitholder","page_number":202,"box":{"x":353,"y":857,"width":75,"height":9}},{"id":"fc01c9cd-a85b-4997-8ea1-25fd5a0c2a0f","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":202,"box":{"x":352,"y":877,"width":404,"height":11}},{"id":"4cc58dc2-cd29-4ca0-a1ab-26355dbc44c1","block_type":"box","text":"property","page_number":202,"box":{"x":353,"y":891,"width":60,"height":10}},{"id":"ec3b2e62-1ab6-4859-9103-23ff679d4955","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":203,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"6f07903e-db29-42a3-b021-5c6f72476ee2","block_type":"box","text":"203","page_number":203,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"b97d7b3a-7962-4629-9a0f-72475f911fb1","block_type":"box","text":"Aviva Investors: Confidential","page_number":203,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"6414831d-343a-483a-9dba-7ec57a6b0add","block_type":"box","text":"UK Fund of Fund","page_number":203,"box":{"x":118,"y":53,"width":125,"height":9}},{"id":"554b76d4-e992-41e3-86c4-58426818253c","block_type":"box","text":"Accumulation Units","page_number":203,"box":{"x":116,"y":67,"width":143,"height":9}},{"id":"2043c570-3851-4bc0-a65c-c62a9691e0b1","block_type":"box","text":"ACS management charge: Deducted from Scheme","page_number":203,"box":{"x":352,"y":59,"width":404,"height":11}},{"id":"778b5839-2e66-4301-8ddd-65ff9174decf","block_type":"box","text":"Property of FoF Units.","page_number":203,"box":{"x":354,"y":73,"width":161,"height":11}},{"id":"1c7af879-e887-4b9f-b2ea-3b16755bf7a3","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":203,"box":{"x":352,"y":92,"width":404,"height":12}},{"id":"c35fa4e7-b95c-430c-8fd2-f32147da5038","block_type":"box","text":"Property.","page_number":203,"box":{"x":354,"y":106,"width":65,"height":11}},{"id":"379c136b-e187-4567-a8f6-ea4736c68957","block_type":"box","text":"The ACS management charge deducted from Scheme","page_number":203,"box":{"x":352,"y":125,"width":404,"height":12}},{"id":"a9946a42-7065-4039-a799-3216fd112b1b","block_type":"box","text":"Property shall be reduced by an amount equal to the","page_number":203,"box":{"x":354,"y":139,"width":403,"height":11}},{"id":"3e596396-062b-4a0d-9616-3dae850f685c","block_type":"box","text":"Administration Charge deducted from the Scheme","page_number":203,"box":{"x":352,"y":153,"width":404,"height":11}},{"id":"0a7af805-62d0-49b2-be7c-29ddce39fd12","block_type":"box","text":"Property of that Sub-Fund and Unit Class in the","page_number":203,"box":{"x":354,"y":166,"width":402,"height":12}},{"id":"e645c0dd-1345-489c-988e-d6940100b239","block_type":"box","text":"relevant period.","page_number":203,"box":{"x":353,"y":180,"width":113,"height":11}},{"id":"f87d3be4-2356-4e5e-986e-b862a1863d76","block_type":"box","text":"Accounting Dates","page_number":203,"box":{"x":117,"y":206,"width":141,"height":12}},{"id":"1784abfb-f5d9-41c3-8fbc-c2d392396a50","block_type":"box","text":"Annual Accounting Date","page_number":203,"box":{"x":116,"y":233,"width":180,"height":11}},{"id":"718a5048-a839-4e85-a50c-12d42789e634","block_type":"box","text":"31 December","page_number":203,"box":{"x":353,"y":233,"width":100,"height":8}},{"id":"87a0f108-83b1-43f4-94c1-768173768615","block_type":"box","text":"First Accounting Date","page_number":203,"box":{"x":118,"y":259,"width":158,"height":11}},{"id":"9234730f-66b9-4d93-b965-47dd29b270a5","block_type":"box","text":"31 December 2023","page_number":203,"box":{"x":353,"y":259,"width":141,"height":9}},{"id":"12887c0e-21b9-4e84-9d73-0ec3cde9e8e0","block_type":"box","text":"Annual Income Allocation","page_number":203,"box":{"x":116,"y":285,"width":188,"height":8}},{"id":"3bd61c6c-2569-4dd4-98ea-2932c7fe5a13","block_type":"box","text":"Date","page_number":203,"box":{"x":118,"y":298,"width":33,"height":9}},{"id":"242a743b-3bbd-4898-8a12-3d8be6562c09","block_type":"box","text":"On or before 28 /29 February","page_number":203,"box":{"x":353,"y":285,"width":217,"height":11}},{"id":"6a651792-e438-448b-9232-1056d394743e","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":203,"box":{"x":118,"y":325,"width":293,"height":11}},{"id":"dba0708e-6c70-4464-a3da-7d6bc3be5425","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":203,"box":{"x":62,"y":350,"width":861,"height":12}},{"id":"78e05969-b384-429f-b3ce-9c8e508baa72","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":203,"box":{"x":62,"y":364,"width":408,"height":11}},{"id":"d46c1d8d-386b-47f0-a518-0878b986c5e3","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":203,"box":{"x":62,"y":384,"width":642,"height":11}},{"id":"193bda08-d8b6-40db-8f1b-595fc19e6145","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":203,"box":{"x":62,"y":403,"width":860,"height":12}},{"id":"12e2c88a-c45c-4369-b71a-df51e39d79fa","block_type":"box","text":"this Prospectus.","page_number":203,"box":{"x":62,"y":417,"width":117,"height":11}},{"id":"0a39c069-6006-4f17-8839-c23a4478bbd1","block_type":"box","text":"□","page_number":203,"box":{"x":62,"y":432,"width":5,"height":4}},{"id":"e98b8441-034c-494c-952c-c192baa6214c","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":203,"box":{"x":74,"y":431,"width":342,"height":8}},{"id":"d6dd1f4a-b96d-4a15-b843-79575c325636","block_type":"box","text":"□","page_number":203,"box":{"x":62,"y":460,"width":5,"height":3}},{"id":"5984face-9b2c-4e43-b76a-e71a4d3f4d80","block_type":"box","text":"□","page_number":203,"box":{"x":69,"y":460,"width":5,"height":3}},{"id":"6a5826d9-ad19-42c2-a931-3c6308b90395","block_type":"box","text":"Our ESG assessments and exclusions are reliant on: (i) data provided by third party data providers; and (ii) AI and","page_number":203,"box":{"x":75,"y":458,"width":847,"height":11}},{"id":"b8c4b362-5ee3-450c-8852-b3c568b33000","block_type":"box","text":"third-party proprietary models. Data from these third-party data providers or used in our ESG models may be","page_number":203,"box":{"x":62,"y":472,"width":861,"height":11}},{"id":"2bb6e364-b1b0-4530-907c-eddf6ee27c01","block_type":"box","text":"incomplete, inaccurate or unavailable. As a result, there is a risk that the Investment Manager may, from time to time,","page_number":203,"box":{"x":62,"y":485,"width":860,"height":12}},{"id":"08cac46d-d67a-447a-8698-5dc7f332a1b3","block_type":"box","text":"incorrectly assess an asset. There is also a risk that the Investment Manager, or the third-party data providers on","page_number":203,"box":{"x":62,"y":499,"width":860,"height":11}},{"id":"d9de3d68-3b16-4a63-8e6d-45436c38fffc","block_type":"box","text":"which we may depend, may not interpret or apply the relevant ESG characteristics correctly. Our proprietary ESG tool","page_number":203,"box":{"x":62,"y":513,"width":860,"height":11}},{"id":"905a214b-d118-47f8-8599-c44cabd7a1d6","block_type":"box","text":"emphasises the ESG factors which we determine are most closely correlated to potential financial outperformance.","page_number":203,"box":{"x":62,"y":526,"width":860,"height":11}},{"id":"a96bb7c1-85b8-46b7-81b6-b7487c456b19","block_type":"box","text":"Accordingly, it should not be used as a comprehensive measure of the sustainability risks (or the overall ESG","page_number":203,"box":{"x":62,"y":540,"width":860,"height":11}},{"id":"97721a4a-05d3-4052-9c34-eda784ca61e8","block_type":"box","text":"quality/credentials) of a Sub-Fund.","page_number":203,"box":{"x":62,"y":554,"width":254,"height":11}},{"id":"39a095f8-89be-4a4b-9351-e72dca2aa3dc","block_type":"box","text":"Securities Financing and other Transactions:","page_number":203,"box":{"x":62,"y":579,"width":358,"height":11}},{"id":"4a555514-13e4-48c7-baf8-c201114d1f3f","block_type":"box","text":"The types of assets which may be subject to TRS are limited to Equity Securities.","page_number":203,"box":{"x":62,"y":599,"width":601,"height":11}},{"id":"996b90ae-a5dd-43b9-b06a-229951d8dfdd","block_type":"box","text":"The assets which may be subject to securities lending or repo transactions will be limited to Equity Securities.","page_number":203,"box":{"x":62,"y":638,"width":809,"height":11}},{"id":"6ed6a7c3-a319-47b4-b0a1-7cd95b744b16","block_type":"box","text":"Given that the Sub-Fund’s assets cannot be described as being ‘subject to’ TRS, the maximum and expected","page_number":203,"box":{"x":62,"y":657,"width":860,"height":12}},{"id":"5fb8defa-57a4-42df-9e3d-b9e688be2b64","block_type":"box","text":"percentages of TRS are given as the gross aggregate notional of TRS as a percentage of the NAV.","page_number":203,"box":{"x":62,"y":671,"width":734,"height":11}},{"id":"36fb71d0-25de-4c7a-99d4-76c424b3fee1","block_type":"box","text":"The maximum proportion of the assets of the Fund which may be subject to TRS, securities lending or repo","page_number":203,"box":{"x":62,"y":707,"width":794,"height":11}},{"id":"9812e04c-2f09-4cc1-b53c-7e38544b7078","block_type":"box","text":"transactions is as follows:","page_number":203,"box":{"x":62,"y":722,"width":188,"height":9}},{"id":"a986029e-02d3-4e16-ac9e-7eeb9f8eaf3a","block_type":"box","text":"Total Return Swaps","page_number":203,"box":{"x":71,"y":759,"width":133,"height":10}},{"id":"9c76839c-1959-41b8-ad22-a690476e7dac","block_type":"box","text":"10%","page_number":203,"box":{"x":461,"y":759,"width":27,"height":8}},{"id":"67c9aa25-d872-46db-98bf-50704514e182","block_type":"box","text":"Securities Lending","page_number":203,"box":{"x":72,"y":781,"width":125,"height":10}},{"id":"2cab9ecc-1c9c-487a-8163-5f5ac8f75f84","block_type":"box","text":"50%","page_number":203,"box":{"x":460,"y":781,"width":28,"height":8}},{"id":"b943ce24-fb03-468e-9cf7-5cc12493d458","block_type":"box","text":"Repo Transactions","page_number":203,"box":{"x":71,"y":803,"width":125,"height":10}},{"id":"98b69d29-bfb1-46cb-be9a-2f29131b8698","block_type":"box","text":"50%","page_number":203,"box":{"x":460,"y":803,"width":28,"height":8}},{"id":"7fdeefa2-e688-4bb7-9546-96a3e3736d8b","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":204,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"3eebc2b2-8509-4ec6-a075-cf3e97db0741","block_type":"box","text":"204","page_number":204,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"548fc1dc-3edb-4baa-afd5-0f4ef76bb21e","block_type":"box","text":"Aviva Investors: Confidential","page_number":204,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"365109c3-e993-48d0-a96a-67c353f83603","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":204,"box":{"x":62,"y":53,"width":823,"height":11}},{"id":"e88dd070-28ff-4006-8d40-7dba2e32a406","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to TRS, securities lending or","page_number":204,"box":{"x":62,"y":68,"width":833,"height":11}},{"id":"f9665a75-1921-4055-9f8a-669b72ed08f8","block_type":"box","text":"repo transactions is as follows:","page_number":204,"box":{"x":63,"y":84,"width":226,"height":11}},{"id":"649e91f7-9d89-40aa-b805-bccad27cb538","block_type":"box","text":"Total Return Swaps","page_number":204,"box":{"x":71,"y":120,"width":133,"height":11}},{"id":"2261d1b5-3526-483a-833e-290919f51652","block_type":"box","text":"0%","page_number":204,"box":{"x":460,"y":120,"width":20,"height":9}},{"id":"17c354a6-689b-4d74-8e1b-9865cd3e0443","block_type":"box","text":"Securities Lending","page_number":204,"box":{"x":72,"y":142,"width":125,"height":11}},{"id":"0c273ebc-bf1a-4e6a-b2f4-cee4f10b890f","block_type":"box","text":"25%","page_number":204,"box":{"x":460,"y":142,"width":28,"height":9}},{"id":"a2fa86af-9dec-4c7e-b0f9-22753e3938b9","block_type":"box","text":"Repo Transactions","page_number":204,"box":{"x":71,"y":164,"width":125,"height":11}},{"id":"3eb08c49-2f64-4dec-9c30-fa34faf82c01","block_type":"box","text":"1","page_number":204,"box":{"x":461,"y":164,"width":5,"height":8}},{"id":"d862c551-7721-412b-bb47-0eaa5f72af8a","block_type":"box","text":"2","page_number":204,"box":{"x":468,"y":164,"width":8,"height":8}},{"id":"6e6c344f-e7e4-49b5-b705-25d9ceb88781","block_type":"box","text":".","page_number":204,"box":{"x":477,"y":171,"width":2,"height":1}},{"id":"5a1001d3-cf95-4a1d-b52a-adafd4c7ef0d","block_type":"box","text":"5%","page_number":204,"box":{"x":481,"y":164,"width":20,"height":9}},{"id":"8ace9c34-031c-45ff-85dd-8dbdf2d0d1eb","block_type":"box","text":"The expected proportion of AUM subject to TRS, securities lending or repo transactions is indicative only and,","page_number":204,"box":{"x":62,"y":206,"width":812,"height":11}},{"id":"439b6c41-430f-402c-abbb-57f02b3d6de2","block_type":"box","text":"depending on market conditions and the strategies employed, the actual exposure may be outside of that range at","page_number":204,"box":{"x":62,"y":221,"width":845,"height":12}},{"id":"a6184c68-d120-42d7-b287-4110136b817c","block_type":"box","text":"any given point in time. There may be times when there the proportion of AUM subject to TRS, securities lending or","page_number":204,"box":{"x":62,"y":237,"width":854,"height":11}},{"id":"ee8653fd-b4cb-4f99-9d77-64635aa864dc","block_type":"box","text":"repo transactions is zero.","page_number":204,"box":{"x":63,"y":253,"width":184,"height":11}},{"id":"0537df06-480d-41a4-b56e-7a3891ea6e29","block_type":"box","text":"Leverage","page_number":204,"box":{"x":63,"y":300,"width":72,"height":11}},{"id":"56e7b443-72d2-4dfe-8b8e-4f332c9fb589","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":204,"box":{"x":63,"y":320,"width":860,"height":11}},{"id":"77493695-113f-481c-9172-1491ad97aad6","block_type":"box","text":"management.","page_number":204,"box":{"x":62,"y":334,"width":101,"height":10}},{"id":"6d4e1370-8886-4e85-9aea-150e5f4a2218","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":204,"box":{"x":62,"y":366,"width":860,"height":12}},{"id":"5c2c6754-c11e-4ded-90b6-b6fb0652c7b3","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":204,"box":{"x":62,"y":380,"width":649,"height":11}},{"id":"976f199c-4f34-4393-9dc7-38c7033d819c","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":204,"box":{"x":62,"y":407,"width":755,"height":12}},{"id":"d62e4f17-e73d-44b4-aa80-3e95dc178e6c","block_type":"box","text":"Permitted derivatives","page_number":204,"box":{"x":72,"y":437,"width":168,"height":9}},{"id":"165cf808-684f-4783-9206-0f786dbfdf3c","block_type":"box","text":"Permitted?","page_number":204,"box":{"x":383,"y":437,"width":85,"height":9}},{"id":"21b2bd71-0370-441b-bb48-e7f6a8f14663","block_type":"box","text":"Prohibited?","page_number":204,"box":{"x":489,"y":437,"width":91,"height":9}},{"id":"2bcb6c73-46ca-45f6-b8ba-677dc88563a2","block_type":"box","text":"Equity index futures","page_number":204,"box":{"x":72,"y":458,"width":146,"height":11}},{"id":"c81298d4-61df-42b5-90ed-49bf815b5f5c","block_type":"box","text":"√","page_number":204,"box":{"x":421,"y":458,"width":8,"height":8}},{"id":"dbd58b92-a6d9-4a2d-8399-e8bd57523a8a","block_type":"box","text":"Government bond futures","page_number":204,"box":{"x":72,"y":476,"width":188,"height":9}},{"id":"1918605b-1928-4c00-8873-86ebb1d66080","block_type":"box","text":"√","page_number":204,"box":{"x":530,"y":477,"width":8,"height":7}},{"id":"6d6a36a1-f80d-4ead-b997-e77c4f314ef7","block_type":"box","text":"Equity index options","page_number":204,"box":{"x":72,"y":495,"width":148,"height":11}},{"id":"1292b29e-821c-4ea6-b092-3385aebb9212","block_type":"box","text":"√","page_number":204,"box":{"x":530,"y":495,"width":8,"height":8}},{"id":"1e106788-595c-43e7-8f4f-0a0e0dc9dc1b","block_type":"box","text":"Forward foreign exchange","page_number":204,"box":{"x":72,"y":513,"width":193,"height":11}},{"id":"50c8709f-c0f0-4909-8b96-da304e3f120a","block_type":"box","text":"√","page_number":204,"box":{"x":421,"y":513,"width":8,"height":8}},{"id":"85c465bf-f38a-49cb-99a8-7ee978a38748","block_type":"box","text":"Index credit default swaps","page_number":204,"box":{"x":72,"y":531,"width":192,"height":12}},{"id":"b5dfa09e-0329-4456-a3e3-afb26b847b5b","block_type":"box","text":"√","page_number":204,"box":{"x":530,"y":532,"width":8,"height":8}},{"id":"4e4b0bfe-ea2b-4f70-8053-9f697973693f","block_type":"box","text":"Interest rate swaps","page_number":204,"box":{"x":72,"y":550,"width":140,"height":11}},{"id":"3e1d8deb-f1fd-4178-ac98-62269b86df93","block_type":"box","text":"√","page_number":204,"box":{"x":530,"y":550,"width":8,"height":8}},{"id":"87ecb699-f609-48a9-82f3-8455106d917d","block_type":"box","text":"OTC equity options","page_number":204,"box":{"x":72,"y":568,"width":142,"height":11}},{"id":"49fe7722-70c6-4022-8c25-79483b0502d2","block_type":"box","text":"√","page_number":204,"box":{"x":530,"y":569,"width":8,"height":7}},{"id":"e594456e-285e-4790-b82e-eb25a5f66e58","block_type":"box","text":"Inflation swaps","page_number":204,"box":{"x":72,"y":587,"width":109,"height":11}},{"id":"b15fadb1-f28e-46f4-b823-a74306004f85","block_type":"box","text":"√","page_number":204,"box":{"x":530,"y":587,"width":8,"height":8}},{"id":"ce16ed65-c868-43ca-9a17-b3fd6442288a","block_type":"box","text":"Cross currency swaps","page_number":204,"box":{"x":72,"y":605,"width":163,"height":11}},{"id":"15229bbc-6264-4352-9b1e-19b70b1529c7","block_type":"box","text":"√","page_number":204,"box":{"x":530,"y":606,"width":8,"height":7}},{"id":"88922ee2-a02a-4dfe-9ebe-f24b6275d8b2","block_type":"box","text":"Equity TRS -single name","page_number":204,"box":{"x":72,"y":621,"width":184,"height":12}},{"id":"10f34c96-da0e-4481-ad67-ddf8e6a8682a","block_type":"box","text":"√","page_number":204,"box":{"x":421,"y":624,"width":8,"height":8}},{"id":"abe78261-c276-41f2-a3d7-c3556b0de05b","block_type":"box","text":"Equity TRS - index","page_number":204,"box":{"x":72,"y":640,"width":138,"height":11}},{"id":"90864c7c-f706-4a7e-85f1-962d930f43ba","block_type":"box","text":"√","page_number":204,"box":{"x":421,"y":642,"width":8,"height":8}},{"id":"3c6f6bfc-0129-416c-aed1-e32028b823c4","block_type":"box","text":"Other","page_number":204,"box":{"x":72,"y":660,"width":41,"height":9}},{"id":"0c1613ea-bbf1-49f7-8060-b0c494899d2b","block_type":"box","text":"√","page_number":204,"box":{"x":530,"y":661,"width":8,"height":7}},{"id":"44ff2e84-05f1-4640-a64d-4d2e4b29b4be","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":204,"box":{"x":63,"y":688,"width":860,"height":11}},{"id":"37745bab-ea16-420d-8b41-8090c43dcf55","block_type":"box","text":"2)","page_number":204,"box":{"x":62,"y":702,"width":13,"height":11}},{"id":"dee6b61e-7c0f-4d3d-8ddf-75f93e96c514","block_type":"box","text":"Leverage Limits","page_number":204,"box":{"x":63,"y":729,"width":128,"height":11}},{"id":"c8adf54f-ff69-4636-8c17-7a0b0fd08635","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":204,"box":{"x":200,"y":729,"width":722,"height":11}},{"id":"2686ed3b-7972-4775-88e5-f38eeb48678c","block_type":"box","text":"Regime):","page_number":204,"box":{"x":63,"y":743,"width":65,"height":11}},{"id":"9abca136-3e7f-4c5d-ba18-6b87808ac9ec","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":204,"box":{"x":62,"y":770,"width":471,"height":11}},{"id":"44eaea10-4393-413d-a77f-311f9491e864","block_type":"box","text":"","page_number":204,"box":{"x":62,"y":801,"width":6,"height":5}},{"id":"bd2b6ec1-5ca2-49b3-aa96-395dcb18e9e1","block_type":"box","text":"Gross Method: Up to 1.1:1","page_number":204,"box":{"x":92,"y":798,"width":193,"height":11}},{"id":"f11f108b-061d-49d7-b929-304efd000a8b","block_type":"box","text":"","page_number":204,"box":{"x":62,"y":818,"width":6,"height":4}},{"id":"d98f93d4-5381-45b7-baf3-4fcddf7b9f28","block_type":"box","text":"Commitment: Up to 1.1:1","page_number":204,"box":{"x":92,"y":815,"width":183,"height":11}},{"id":"e0fec64c-517a-43d9-916e-c98dd3bcd1ad","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":204,"box":{"x":62,"y":842,"width":860,"height":12}},{"id":"eb1fbc0a-8d0e-4f62-affb-651641be9d39","block_type":"box","text":"which case leverage will not exceed the following:","page_number":204,"box":{"x":62,"y":856,"width":368,"height":11}},{"id":"b237b3ee-7d10-4f32-b75e-77e6087dae80","block_type":"box","text":"","page_number":204,"box":{"x":62,"y":887,"width":6,"height":5}},{"id":"927d1963-ebbd-408b-8b29-d6283a72a656","block_type":"box","text":"Gross Method: Up to 2:1","page_number":204,"box":{"x":92,"y":884,"width":179,"height":11}},{"id":"62a3db9a-d76b-4faf-9e95-eddb4e45c956","block_type":"box","text":"","page_number":204,"box":{"x":62,"y":904,"width":6,"height":4}},{"id":"8c8875aa-8fcc-418c-a1b7-2a79c51733cb","block_type":"box","text":"Commitment: Up to 1.5:1","page_number":204,"box":{"x":92,"y":901,"width":183,"height":11}},{"id":"f434d59b-40b7-47f4-89e3-111e915a3dfc","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":205,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"f08fc0fd-85c7-447e-8765-71e1b7bf0ee0","block_type":"box","text":"205","page_number":205,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"efdb2e87-15e9-42dc-a54b-cf2cc22d48f4","block_type":"box","text":"Aviva Investors: Confidential","page_number":205,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"11d002f2-5199-426b-89b5-a711d52ec6e4","block_type":"box","text":"Specific Risks","page_number":205,"box":{"x":62,"y":72,"width":113,"height":11}},{"id":"9f04142d-d1a8-43a3-a293-c736fc99a086","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":205,"box":{"x":181,"y":72,"width":462,"height":11}},{"id":"e7993ab8-dae8-4b60-93bb-ffef8f00cdd3","block_type":"box","text":"","page_number":205,"box":{"x":62,"y":109,"width":6,"height":5}},{"id":"547210ed-9294-4629-a483-3f2c0ebf5328","block_type":"box","text":"Single Market","page_number":205,"box":{"x":92,"y":106,"width":102,"height":11}},{"id":"572c77f8-6cf1-453e-b6ee-8237a3f599ed","block_type":"box","text":"","page_number":205,"box":{"x":62,"y":124,"width":6,"height":4}},{"id":"e06ce5f5-c1fa-45d2-af3e-f81bd9a6ba00","block_type":"box","text":"Equity Securities","page_number":205,"box":{"x":93,"y":121,"width":123,"height":11}},{"id":"d6f4c3be-c089-4413-b22a-6b1dee620bce","block_type":"box","text":"","page_number":205,"box":{"x":62,"y":138,"width":6,"height":5}},{"id":"eebf67bd-5a70-482c-8048-f0d3b837d86d","block_type":"box","text":"Benchmark Indices","page_number":205,"box":{"x":93,"y":135,"width":140,"height":9}},{"id":"90bbc474-2f8d-48ae-b344-e5e8e84b6166","block_type":"box","text":"","page_number":205,"box":{"x":62,"y":153,"width":6,"height":4}},{"id":"2b96dd97-37b1-49cc-9688-8cac42d465af","block_type":"box","text":"Index-Related Risk","page_number":205,"box":{"x":93,"y":150,"width":140,"height":8}},{"id":"71e94599-b635-42b8-8317-845d070699e2","block_type":"box","text":"","page_number":205,"box":{"x":62,"y":167,"width":6,"height":4}},{"id":"fa07c2b4-4851-42be-80ac-a4268d4efd6a","block_type":"box","text":"Tracking Error","page_number":205,"box":{"x":92,"y":164,"width":106,"height":11}},{"id":"aededbf0-babc-45cc-ad50-134ce70e7635","block_type":"box","text":"Past Performance – Aviva Investors Europe Equity ex UK Core Fund","page_number":205,"box":{"x":72,"y":198,"width":543,"height":11}},{"id":"258394cb-0ac6-42d8-8c43-7f3221f422ed","block_type":"box","text":"% Growth","page_number":205,"box":{"x":71,"y":218,"width":77,"height":8}},{"id":"652d2e32-a6e2-4ae5-8cf3-7aca780fe139","block_type":"box","text":"1/1/2024 to","page_number":205,"box":{"x":290,"y":243,"width":94,"height":8}},{"id":"b14eea90-8cbb-4c59-aed7-3591efff8773","block_type":"box","text":"31/12/2024","page_number":205,"box":{"x":289,"y":255,"width":75,"height":9}},{"id":"e679e10f-2153-40fb-af53-7671a6402f15","block_type":"box","text":"1/1/2023 to","page_number":205,"box":{"x":404,"y":243,"width":94,"height":8}},{"id":"c71f02cc-86c0-447d-b238-651d84856e3e","block_type":"box","text":"31/12/2023","page_number":205,"box":{"x":403,"y":255,"width":75,"height":9}},{"id":"ac51204a-a965-4801-a32a-44372ecb44af","block_type":"box","text":"1/1/2022 to","page_number":205,"box":{"x":517,"y":243,"width":94,"height":8}},{"id":"56c55e61-52ec-4096-a860-77a316ba98ad","block_type":"box","text":"31/12/2022","page_number":205,"box":{"x":516,"y":255,"width":75,"height":9}},{"id":"e06790ab-7b1c-4fdf-8da4-48bed6441208","block_type":"box","text":"1/1/2021 to","page_number":205,"box":{"x":631,"y":243,"width":94,"height":8}},{"id":"608ced72-903f-4274-921f-2db3662388b5","block_type":"box","text":"31/12/2021","page_number":205,"box":{"x":630,"y":255,"width":73,"height":9}},{"id":"8f60f4aa-f310-44fb-9c79-e487f8f62d40","block_type":"box","text":"1/1/2020 to","page_number":205,"box":{"x":744,"y":243,"width":94,"height":8}},{"id":"fa087f61-7942-4650-8c55-092f57814fc5","block_type":"box","text":"31/12/2020","page_number":205,"box":{"x":743,"y":255,"width":75,"height":9}},{"id":"53af4e53-aff9-4864-ac8e-ce46ff2d254b","block_type":"box","text":"UK Corporate Income","page_number":205,"box":{"x":72,"y":280,"width":198,"height":10}},{"id":"640f73dd-d2ee-463f-b2f3-8aa2dad86b00","block_type":"box","text":"Distribution Units (%)","page_number":205,"box":{"x":72,"y":293,"width":140,"height":10}},{"id":"3dd96a64-48bd-4dfa-86e9-ee51ad3f105f","block_type":"box","text":"Insured Pension Income","page_number":205,"box":{"x":72,"y":317,"width":198,"height":8}},{"id":"556d2dd9-623d-47ac-b1c3-1a910fb10e75","block_type":"box","text":"Distribution Units (%)","page_number":205,"box":{"x":72,"y":330,"width":140,"height":10}},{"id":"3ff52a79-e776-4e75-9f4c-913a2a758d03","block_type":"box","text":"UK Institutional Accumulation","page_number":205,"box":{"x":72,"y":355,"width":198,"height":7}},{"id":"e0908e9c-99e4-4e19-9fef-a2407c8a22c4","block_type":"box","text":"Units (%)","page_number":205,"box":{"x":72,"y":367,"width":60,"height":10}},{"id":"a9dadaa2-cd66-447c-9d03-eadc8779c067","block_type":"box","text":"ACS (Fund of Fund)","page_number":205,"box":{"x":71,"y":391,"width":199,"height":10}},{"id":"7409a6bd-beed-4229-95c4-767fe796c010","block_type":"box","text":"Accumulation Units Class 1","page_number":205,"box":{"x":71,"y":404,"width":197,"height":8}},{"id":"efdae9cd-0f58-41cb-bcd9-7ad0e4ec9a97","block_type":"box","text":"(%)","page_number":205,"box":{"x":72,"y":416,"width":21,"height":10}},{"id":"156ce711-0098-4b91-bc0e-c67d9fbb3b3c","block_type":"box","text":"ACS (Fund of Fund)","page_number":205,"box":{"x":71,"y":441,"width":199,"height":10}},{"id":"21b682d6-855d-4d76-892a-ae49c6f2a72a","block_type":"box","text":"Accumulation Units Class 2","page_number":205,"box":{"x":71,"y":453,"width":199,"height":8}},{"id":"36dea571-2cf5-4464-a255-44b1301b52a9","block_type":"box","text":"(%)","page_number":205,"box":{"x":72,"y":465,"width":21,"height":10}},{"id":"450510d8-882f-4b25-ba58-297e0feb279c","block_type":"box","text":"UK Corporate Accumulation","page_number":205,"box":{"x":72,"y":490,"width":198,"height":10}},{"id":"f1b65ca7-6f37-4ef8-92cf-a9169c16f1da","block_type":"box","text":"Units (%)","page_number":205,"box":{"x":72,"y":502,"width":60,"height":10}},{"id":"788b33dc-f836-422d-bbc1-b56c532a1303","block_type":"box","text":"2.53","page_number":205,"box":{"x":289,"y":491,"width":29,"height":7}},{"id":"a7e0378e-6d74-4cee-a4b9-0ae5c157e4bc","block_type":"box","text":"15.13","page_number":205,"box":{"x":404,"y":491,"width":36,"height":7}},{"id":"fa24db5e-2bd3-4260-ac5f-2f1e34075531","block_type":"box","text":"N/A","page_number":205,"box":{"x":517,"y":490,"width":24,"height":8}},{"id":"d7bbed64-1706-48d9-948a-37fcd0cfde6d","block_type":"box","text":"N/A","page_number":205,"box":{"x":631,"y":490,"width":24,"height":8}},{"id":"113e96ba-0e3a-4df6-a62f-0acdaf95abee","block_type":"box","text":"N/A","page_number":205,"box":{"x":744,"y":490,"width":24,"height":8}},{"id":"b3365c11-5ef0-4acf-bb2d-4182510f31b1","block_type":"box","text":"Insured Pension","page_number":205,"box":{"x":72,"y":527,"width":198,"height":8}},{"id":"d6e0fa23-28ed-42f4-ba4a-63b891d6f4b5","block_type":"box","text":"Accumulation Units (%)","page_number":205,"box":{"x":71,"y":540,"width":156,"height":10}},{"id":"0c923167-4a7d-41e5-89a9-a02ee633a3cb","block_type":"box","text":"2.53","page_number":205,"box":{"x":289,"y":528,"width":29,"height":7}},{"id":"9d2c5688-25a9-4e56-8e42-33721946a3a9","block_type":"box","text":"15.12","page_number":205,"box":{"x":404,"y":528,"width":36,"height":7}},{"id":"77556ee1-6e21-4ebf-8627-c26658e495d8","block_type":"box","text":"N/A","page_number":205,"box":{"x":517,"y":527,"width":24,"height":8}},{"id":"f81f2057-d51a-49e7-84e4-0755993ed628","block_type":"box","text":"N/A","page_number":205,"box":{"x":631,"y":527,"width":24,"height":8}},{"id":"320ec780-d717-491a-9308-d151a67c5724","block_type":"box","text":"N/A","page_number":205,"box":{"x":744,"y":527,"width":24,"height":8}},{"id":"c068c11e-04f2-4bbd-84c5-a98d174c2f22","block_type":"box","text":"UK Fund of Fund","page_number":205,"box":{"x":72,"y":570,"width":198,"height":8}},{"id":"2fa813e9-0d25-4cd2-999e-1670bd027aa2","block_type":"box","text":"Accumulation Units (%)","page_number":205,"box":{"x":71,"y":582,"width":156,"height":10}},{"id":"38b3e58d-cce7-4ae7-8bac-7b3a0449259f","block_type":"box","text":"2.45","page_number":205,"box":{"x":289,"y":570,"width":29,"height":8}},{"id":"6be184e9-3166-4493-8050-484750d52219","block_type":"box","text":"15.13","page_number":205,"box":{"x":404,"y":570,"width":36,"height":8}},{"id":"19e8cf98-bf71-4d50-b45f-1ac83ea878c6","block_type":"box","text":"N/A","page_number":205,"box":{"x":517,"y":570,"width":24,"height":8}},{"id":"cd73c1cb-f5af-43e4-afa3-1258a95d268b","block_type":"box","text":"N/A","page_number":205,"box":{"x":631,"y":570,"width":24,"height":8}},{"id":"9aad7ad0-0f06-4d5f-bcb0-2e9e543aa5d2","block_type":"box","text":"N/A","page_number":205,"box":{"x":744,"y":570,"width":24,"height":8}},{"id":"965be83f-7786-46fb-9952-eee180569851","block_type":"box","text":"MSCI® Europe ex UK Index","page_number":205,"box":{"x":72,"y":610,"width":200,"height":10}},{"id":"0f512dd1-08bf-4183-a689-bbe8539dd9da","block_type":"box","text":"(GBP)","page_number":205,"box":{"x":73,"y":622,"width":40,"height":10}},{"id":"26344215-7e58-46e8-8f6a-e9eeeb71eafb","block_type":"box","text":"1.94","page_number":205,"box":{"x":292,"y":611,"width":27,"height":7}},{"id":"54bc6209-e89b-4c97-92e3-6c48cd27476d","block_type":"box","text":"15.13","page_number":205,"box":{"x":406,"y":611,"width":35,"height":7}},{"id":"aa2879d7-49da-459b-a474-bc794347090b","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":206,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"f2af0f2a-6e0a-4c00-a0ae-30af4c417387","block_type":"box","text":"206","page_number":206,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"e1e9e922-6f97-4647-9bf9-b86d4ac5e2d7","block_type":"box","text":"Aviva Investors: Confidential","page_number":206,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"4c6657b1-c348-447f-968d-06e71942c94b","block_type":"box","text":"Aviva Investors Japan Equity Core Fund","page_number":206,"box":{"x":62,"y":53,"width":320,"height":11}},{"id":"82529711-2921-4d6d-bcc9-c7d8de83ddb8","block_type":"box","text":"FCA product reference number: 985192","page_number":206,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"3ce62d7f-27e4-4f73-9974-e3cf6b917587","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":206,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"890c444e-0dbc-46ed-b17f-4452f6f1b451","block_type":"box","text":"was authorised by the FCA on 12 October 2022.","page_number":206,"box":{"x":62,"y":125,"width":357,"height":11}},{"id":"0b7b8d41-20e3-4944-9e46-1b5381ae6dac","block_type":"box","text":"Investment Objective and Policy","page_number":206,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"12952c7f-f127-46bb-a927-82a7236bf2d4","block_type":"box","text":"The Sub-Fund aims to deliver returns which are similar to the returns of the MSCI® Japan Index (GBP) (the “Index”)","page_number":206,"box":{"x":62,"y":184,"width":860,"height":11}},{"id":"9e8c0573-ab77-46fb-89cd-81d5939af5c6","block_type":"box","text":"over a rolling 12 month period (before charges and taxes) whilst investing in accordance with the investment strategy","page_number":206,"box":{"x":62,"y":197,"width":861,"height":12}},{"id":"de56059b-d037-4702-99a3-40421afcdfbe","block_type":"box","text":"of the Sub-Fund.","page_number":206,"box":{"x":62,"y":211,"width":123,"height":9}},{"id":"29abb601-5aed-4eb8-a671-b400953051f1","block_type":"box","text":"Core investment:","page_number":206,"box":{"x":62,"y":244,"width":135,"height":9}},{"id":"966797b2-f43c-46ea-8db3-14398c5d9502","block_type":"box","text":"The Sub-Fund will invest to form a portfolio representative of the core regional market, as represented by the Index.","page_number":206,"box":{"x":62,"y":264,"width":860,"height":11}},{"id":"85659b71-1651-4a3a-ab60-d550e190d9ff","block_type":"box","text":"It will therefore invest a minimum of 80% in shares of companies that make up the Index.","page_number":206,"box":{"x":63,"y":278,"width":656,"height":11}},{"id":"a10efb36-843a-4c1a-98e7-f4d67bf1b37e","block_type":"box","text":"Other investments:","page_number":206,"box":{"x":62,"y":317,"width":151,"height":9}},{"id":"f421c7d6-5a3f-47e3-98fa-1344d8f97cdb","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies),","page_number":206,"box":{"x":62,"y":336,"width":860,"height":12}},{"id":"921a6005-2144-479c-9832-7fb0ebaa519c","block_type":"box","text":"money market instruments, cash and deposits. Derivatives and forward transaction may be used from time to time to","page_number":206,"box":{"x":62,"y":350,"width":861,"height":11}},{"id":"9bf5a089-b1e9-4d33-a45e-e0d0bf708505","block_type":"box","text":"gain a particular market exposure which would otherwise be difficult or costly to achieve, to manage the Sub-Fund’s","page_number":206,"box":{"x":62,"y":364,"width":861,"height":11}},{"id":"9fe179c4-8af8-4afe-9135-2c75ae12c7a9","block_type":"box","text":"cash flows in a cost-effective manner, or to reduce foreign currency risk within the Sub-Fund.","page_number":206,"box":{"x":62,"y":377,"width":687,"height":12}},{"id":"8c5360be-a95a-41aa-9e43-c1da270a4898","block_type":"box","text":"Investment Strategy and ESG Overlay","page_number":206,"box":{"x":62,"y":416,"width":301,"height":12}},{"id":"4e41303e-3884-4458-bee9-76a556efa114","block_type":"box","text":"□","page_number":206,"box":{"x":368,"y":418,"width":5,"height":4}},{"id":"82ff440c-57b4-4fc9-8020-a582ed109f09","block_type":"box","text":"□","page_number":206,"box":{"x":375,"y":418,"width":5,"height":4}},{"id":"64835bc0-2ac5-47da-81c5-432125c9e8c7","block_type":"box","text":":","page_number":206,"box":{"x":382,"y":419,"width":2,"height":6}},{"id":"2eac3ce8-57a4-48c8-a060-d6e32c134458","block_type":"box","text":"The Fund does not have any sustainability-related investment objectives. However, when selecting companies, the","page_number":206,"box":{"x":62,"y":436,"width":861,"height":11}},{"id":"620b9844-f3fb-47ae-87f7-178b10962178","block_type":"box","text":"Investment Manager uses a passive sampling approach together with the Aviva Investors’ baseline exclusion policy","page_number":206,"box":{"x":63,"y":450,"width":860,"height":11}},{"id":"4c66b844-9a2d-4f58-9354-2bbcaee7fd82","block_type":"box","text":"and an active ESG Overlay (as described below). The Fund’s strategy is designed to deliver, on average over a 12","page_number":206,"box":{"x":62,"y":463,"width":860,"height":12}},{"id":"147bbcef-d20f-4cc1-9b0d-4b5f7d84a894","block_type":"box","text":"month rolling period, a higher ESG score and lower carbon intensity score than the Index (measured using month","page_number":206,"box":{"x":62,"y":477,"width":860,"height":11}},{"id":"4bd4150d-ca9e-4b2d-9886-f046a98fd7e0","block_type":"box","text":"end data), whilst also seeking to minimise the Fund’s tracking error to that Index. This means that the portfolio is","page_number":206,"box":{"x":62,"y":491,"width":861,"height":11}},{"id":"56680677-483c-4492-9008-034e190f3347","block_type":"box","text":"created by first removing the excluded companies from the Index universe, then either overweighting, underweighting","page_number":206,"box":{"x":62,"y":504,"width":860,"height":12}},{"id":"f8c7cae6-6a76-4065-a3a6-9e178045e023","block_type":"box","text":"or excluding holdings relative to the Index based on both their ESG scores and carbon intensity scores (the ESG","page_number":206,"box":{"x":62,"y":518,"width":860,"height":11}},{"id":"0f38a6df-0c97-4ffc-a059-21ca0fe616c9","block_type":"box","text":"Overlay) and potential to deliver returns similar to the Index. Individual holdings do not need to achieve a specific or","page_number":206,"box":{"x":62,"y":532,"width":861,"height":11}},{"id":"a99ff4dd-075a-4009-bf5d-0b3cad6cb9ef","block_type":"box","text":"minimum ESG score or maximum carbon intensity score to be selected for investment, and therefore the Sub-Fund","page_number":206,"box":{"x":62,"y":545,"width":860,"height":11}},{"id":"d677c31a-2fd9-430d-9451-f98d64f1621e","block_type":"box","text":"will hold companies that could be considered to have low ESG scores or high carbon intensity scores.","page_number":206,"box":{"x":62,"y":559,"width":752,"height":11}},{"id":"7043ff62-ab91-45a9-ac52-29b2694a7085","block_type":"box","text":"The Investment Manager will also seek to minimise the Sub-Fund’s tracking error to the Index. However, the ESG","page_number":206,"box":{"x":62,"y":586,"width":860,"height":12}},{"id":"7acecdaa-91a3-4119-a591-9cdaf8412800","block_type":"box","text":"Overlay may limit the choice of investments available to the Sub-Fund and therefore it may not perform in line (either","page_number":206,"box":{"x":62,"y":600,"width":862,"height":11}},{"id":"105c68b4-7c59-4b52-a6a1-719805950d47","block_type":"box","text":"positively or negatively) with the Index or other similar funds that have a broader investment policy.","page_number":206,"box":{"x":62,"y":614,"width":731,"height":11}},{"id":"0e119eee-8e5e-42fe-9c3e-baa43bf6c6c2","block_type":"box","text":"ESG scores assess a company’s resilience to financially material environmental, societal and governance risks, in","page_number":206,"box":{"x":63,"y":641,"width":859,"height":11}},{"id":"de632a29-de91-4c9a-b082-7ea2305f111d","block_type":"box","text":"each case being risks to their financial performance relative to other companies in the same sector. Carbon intensity","page_number":206,"box":{"x":62,"y":654,"width":861,"height":12}},{"id":"14daaa53-5e95-4e7b-801a-d946b42159ea","block_type":"box","text":"scores measure how carbon-intensive a company’s activities are and provides a comparable metric for assessment","page_number":206,"box":{"x":62,"y":668,"width":861,"height":11}},{"id":"d57c9601-3b6a-4cbd-bcfa-ce2e89e43ceb","block_type":"box","text":"against peers, portfolios and benchmarks.","page_number":206,"box":{"x":62,"y":682,"width":310,"height":11}},{"id":"4d9688ee-6f4a-4214-9c77-9193db7ee7d9","block_type":"box","text":"The Sub-Fund’s holdings will be reviewed and, if necessary, rebalanced quarterly and/or on an ad hoc basis when","page_number":206,"box":{"x":62,"y":709,"width":860,"height":11}},{"id":"d7a41c41-13d9-4247-82e3-91bc04cb0d61","block_type":"box","text":"the Investment Manager is of the opinion that market conditions dictate, taking into account any changes to companies","page_number":206,"box":{"x":62,"y":723,"width":861,"height":11}},{"id":"a78a170b-8dfc-44fe-953d-ad275fc01802","block_type":"box","text":"in the Index, the latest available data and market conditions.","page_number":206,"box":{"x":62,"y":737,"width":444,"height":10}},{"id":"aea37c46-0076-4d98-93de-c7f4fb07482e","block_type":"box","text":"Further information on the ESG Overlay is set out in Appendix 4. Further information on the baseline","page_number":206,"box":{"x":63,"y":770,"width":860,"height":11}},{"id":"37c90c10-f7a1-4eca-927d-578fa39b7fb2","block_type":"box","text":"exclusion policy is set out in Appendix 2.","page_number":206,"box":{"x":62,"y":783,"width":327,"height":12}},{"id":"46727985-509e-40f9-ae88-8df4e52736db","block_type":"box","text":"Performance & Risk Strategy:","page_number":206,"box":{"x":63,"y":823,"width":234,"height":11}},{"id":"954b9a10-f930-4590-8111-6b8bb4284644","block_type":"box","text":"The Sub-Fund’s performance is measured against the Index over a rolling 12 month period, before charges and taxes.","page_number":206,"box":{"x":62,"y":842,"width":860,"height":11}},{"id":"f9921f0e-cb5b-4c50-9eed-8f502a2cf027","block_type":"box","text":"However, the Sub-Fund will not hold every company in the Index and may also hold investments that do not form part","page_number":206,"box":{"x":63,"y":856,"width":860,"height":11}},{"id":"58ba53fb-d408-40f6-b357-5a9b105b4166","block_type":"box","text":"of the Index.","page_number":206,"box":{"x":62,"y":870,"width":90,"height":8}},{"id":"e8ae74cf-4252-4dcb-91c2-2b070b66cd96","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund’s returns and the returns of","page_number":206,"box":{"x":62,"y":897,"width":861,"height":11}},{"id":"6260819f-aa09-4f52-af88-14f9fb1cd8b2","block_type":"box","text":"the Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":206,"box":{"x":62,"y":910,"width":860,"height":12}},{"id":"a316219e-2164-4285-9560-7651079809b8","block_type":"box","text":"and vice-versa.","page_number":206,"box":{"x":62,"y":924,"width":112,"height":9}},{"id":"2b3a972d-5dc2-4664-bdb7-555f6dad18d8","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":207,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"6d53207d-b5ff-4910-870f-7261b161ad35","block_type":"box","text":"207","page_number":207,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"dcba4b32-ed39-42d4-b5b0-ecb385721fe5","block_type":"box","text":"Aviva Investors: Confidential","page_number":207,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"6bd4a164-c344-4f54-87b2-4f2ea9ca662d","block_type":"box","text":"The Sub-Fund is expected to have an average yearly tracking error of between 0% to 0.70% when compared to the","page_number":207,"box":{"x":62,"y":66,"width":861,"height":11}},{"id":"b74666dc-57d2-423c-95a6-71e277299601","block_type":"box","text":"Index (excluding charges). However, there may be times when the Sub-Fund operates outside of this range. The","page_number":207,"box":{"x":63,"y":80,"width":860,"height":11}},{"id":"c374324a-eb56-4b53-8d49-5af8179f4ddb","block_type":"box","text":"Investment Manager will review the tracking error range on a periodic basis and, if appropriate, may update the range","page_number":207,"box":{"x":63,"y":94,"width":860,"height":11}},{"id":"2eac01b9-ca53-4424-88be-12f5dc4cf14f","block_type":"box","text":"by updating this Prospectus.","page_number":207,"box":{"x":62,"y":107,"width":209,"height":11}},{"id":"5aad87c0-86af-4093-bc3a-32528dc6bb62","block_type":"box","text":"The Index comprises large and medium sized companies of the Japanese market, covering 85% of the free float","page_number":207,"box":{"x":62,"y":134,"width":861,"height":12}},{"id":"314aa3b7-4087-4ec7-a4d4-d77e7bd6ef22","block_type":"box","text":"adjusted market capitalisation of Japan. The Index has been selected as a measure for performance because it is","page_number":207,"box":{"x":62,"y":148,"width":861,"height":11}},{"id":"ad0ff2b3-6947-4f97-9d83-acd066f52984","block_type":"box","text":"representative of the type of assets in which the Sub-Fund is likely to invest, and it is therefore an appropriate measure","page_number":207,"box":{"x":63,"y":162,"width":860,"height":11}},{"id":"165d1672-986b-48db-ba86-02edfb5e8780","block_type":"box","text":"for the Sub-Fund’s performance.","page_number":207,"box":{"x":62,"y":175,"width":240,"height":11}},{"id":"c87a2183-52d3-43cb-bd48-aad3cc581426","block_type":"box","text":"To allow assessment of the Sub-Fund’s ESG outcomes, the ESG and carbon intensity scores of the Sub-Fund,","page_number":207,"box":{"x":62,"y":215,"width":860,"height":11}},{"id":"adc9b0f6-3b28-4def-9355-3a8ec0441fda","block_type":"box","text":"compared to those of the Index, will be reported to investors quarterly based on the latest 12 month rolling data.","page_number":207,"box":{"x":62,"y":228,"width":826,"height":12}},{"id":"e179163a-a541-4ebe-a007-8e287bf04e43","block_type":"box","text":"Additional Information","page_number":207,"box":{"x":62,"y":268,"width":177,"height":8}},{"id":"63580cc1-d6f1-4aa4-8b53-25242f83e2eb","block_type":"box","text":"Investment Manager","page_number":207,"box":{"x":118,"y":294,"width":151,"height":11}},{"id":"018e983c-35ae-4276-81c7-93355c394ebd","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":207,"box":{"x":352,"y":293,"width":294,"height":9}},{"id":"6db8b3fc-4d55-46ba-8cf8-8725d0836833","block_type":"box","text":"Type of Units","page_number":207,"box":{"x":116,"y":320,"width":98,"height":11}},{"id":"2a4154d3-5760-4526-9617-d15dd77c98c7","block_type":"box","text":"UK Corporate Accumulation Units","page_number":207,"box":{"x":353,"y":320,"width":250,"height":11}},{"id":"2f3d3e5b-ce5c-430b-b6c2-2d73342a4fda","block_type":"box","text":"Insured Pension Accumulation Units","page_number":207,"box":{"x":354,"y":346,"width":267,"height":9}},{"id":"dcc79c50-c373-498f-9c3a-e9fdd289a624","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":207,"box":{"x":353,"y":372,"width":275,"height":9}},{"id":"36b56cac-527d-4d8b-9598-085244bb7031","block_type":"box","text":"Dealing Day","page_number":207,"box":{"x":118,"y":398,"width":89,"height":11}},{"id":"7fb1b1c5-3344-41dd-813b-df82043343d8","block_type":"box","text":"Each Business Day","page_number":207,"box":{"x":354,"y":398,"width":143,"height":11}},{"id":"d1a3a64c-cf4c-483d-94b7-1f8b58f394e4","block_type":"box","text":"Deal Cut-Off Point","page_number":207,"box":{"x":118,"y":424,"width":134,"height":9}},{"id":"c787e0bd-091c-429f-9dfc-3194f3d62e54","block_type":"box","text":"12.00 noon","page_number":207,"box":{"x":354,"y":425,"width":81,"height":8}},{"id":"7bfc2012-ea4b-4be5-a892-25a87e7ba810","block_type":"box","text":"Valuation Point","page_number":207,"box":{"x":117,"y":450,"width":112,"height":9}},{"id":"74ac7d33-3b39-4956-b41d-89e8e8fe2703","block_type":"box","text":"3.00 pm","page_number":207,"box":{"x":353,"y":451,"width":59,"height":10}},{"id":"e7c840d1-c64f-4b13-a62e-889cb148b714","block_type":"box","text":"*Minimum Investment","page_number":207,"box":{"x":117,"y":477,"width":172,"height":8}},{"id":"e2fa7fbc-fb0a-4a1b-8640-0c2a8f722a4a","block_type":"box","text":"UK Corporate Accumulation","page_number":207,"box":{"x":118,"y":502,"width":205,"height":12}},{"id":"a0f57bb3-771a-4009-9a93-980a9bb8f5b5","block_type":"box","text":"Units, Insured Pension","page_number":207,"box":{"x":118,"y":516,"width":166,"height":11}},{"id":"d1c53f50-6a3e-4132-a578-52b2d67b7113","block_type":"box","text":"Accumulation Units","page_number":207,"box":{"x":116,"y":530,"width":143,"height":9}},{"id":"2d80c85d-2fe9-488d-bb43-a063f1c1a1d7","block_type":"box","text":"UK Fund of Fund","page_number":207,"box":{"x":118,"y":550,"width":125,"height":8}},{"id":"2c2339cb-ea5c-46bc-9466-e2c549438fe5","block_type":"box","text":"Accumulation Units","page_number":207,"box":{"x":116,"y":563,"width":143,"height":9}},{"id":"0c794b3d-8ba2-4ca8-aef1-c46989dc79e5","block_type":"box","text":"No minimum","page_number":207,"box":{"x":353,"y":503,"width":92,"height":8}},{"id":"ba08a82e-b9b9-4811-bf11-0a246b14b51d","block_type":"box","text":"Minimum withdrawal","page_number":207,"box":{"x":117,"y":589,"width":150,"height":9}},{"id":"61b8629f-f39a-483d-a6f3-e2c6768c33d1","block_type":"box","text":"No minimum","page_number":207,"box":{"x":353,"y":589,"width":92,"height":9}},{"id":"a2c463ea-1ed2-4c62-9056-f7b692d57225","block_type":"box","text":"Tax Criteria for investment","page_number":207,"box":{"x":116,"y":615,"width":213,"height":9}},{"id":"c129162b-1f5f-4d91-9fb2-ea8756b9ac02","block_type":"box","text":"UK Corporate Accumulation","page_number":207,"box":{"x":118,"y":641,"width":205,"height":12}},{"id":"9f03a4d3-9f0b-47f7-a7be-50f8afc34549","block_type":"box","text":"Units","page_number":207,"box":{"x":118,"y":655,"width":36,"height":9}},{"id":"596103c1-8297-4452-a343-18ee15d611af","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":207,"box":{"x":352,"y":641,"width":404,"height":12}},{"id":"f52402ea-d889-409f-9bd5-24baeac3ee74","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":207,"box":{"x":353,"y":655,"width":404,"height":11}},{"id":"cbe82324-d52c-405c-ad13-077e5f0f66dc","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":207,"box":{"x":352,"y":669,"width":405,"height":11}},{"id":"7598e7cb-9c2d-4b7e-9604-5c4affc08d33","block_type":"box","text":"linked pension business contracts.","page_number":207,"box":{"x":353,"y":683,"width":253,"height":11}},{"id":"f41d9808-5a32-42c3-b115-b485b589f92e","block_type":"box","text":"Insured Pension","page_number":207,"box":{"x":118,"y":709,"width":118,"height":8}},{"id":"a50bae78-cd45-4af4-bdd0-4236271fa774","block_type":"box","text":"Accumulation Units","page_number":207,"box":{"x":116,"y":722,"width":143,"height":9}},{"id":"806da481-fa71-44c9-8bcb-ce5f422cccc7","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":207,"box":{"x":352,"y":709,"width":404,"height":11}},{"id":"daeedd5d-d03f-45e7-9655-7344bb692106","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":207,"box":{"x":353,"y":722,"width":404,"height":11}},{"id":"d423111f-bf7c-4931-af80-1f57e1c21bd0","block_type":"box","text":"back exclusively its unit linked pension business","page_number":207,"box":{"x":353,"y":736,"width":404,"height":11}},{"id":"13a1527a-5532-46be-a18a-f2b05e7ac1f2","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":207,"box":{"x":353,"y":750,"width":404,"height":11}},{"id":"d53d67cb-94f9-4270-bd2c-0e9e1816dfe1","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":207,"box":{"x":353,"y":763,"width":307,"height":11}},{"id":"fa64d915-e250-4b73-93b3-b7af6940433b","block_type":"box","text":"UK Fund of Fund","page_number":207,"box":{"x":118,"y":789,"width":125,"height":9}},{"id":"7f5f397e-6d42-4946-abac-bf8a5fa7f470","block_type":"box","text":"Accumulation Units","page_number":207,"box":{"x":116,"y":803,"width":143,"height":9}},{"id":"aac8a9e0-15eb-4062-ac85-8ea8e5ce5959","block_type":"box","text":"A sub-fund of a UK authorised Open-Ended Investment","page_number":207,"box":{"x":352,"y":789,"width":405,"height":11}},{"id":"60ed365e-69d3-43ce-83e4-968e2c2c23f5","block_type":"box","text":"Company which is part of or otherwise managed by the","page_number":207,"box":{"x":353,"y":803,"width":403,"height":11}},{"id":"51752154-3940-463b-ab22-059b320faa80","block_type":"box","text":"Aviva Group.","page_number":207,"box":{"x":352,"y":817,"width":96,"height":11}},{"id":"d9977f7a-11d5-4996-8721-bda00f476a9f","block_type":"box","text":"**Current Charges:","page_number":207,"box":{"x":117,"y":843,"width":149,"height":11}},{"id":"3c4cd887-5a66-4cdf-9721-56e056f9a445","block_type":"box","text":"UK Corporate Accumulation","page_number":207,"box":{"x":118,"y":869,"width":205,"height":11}},{"id":"b147ae2d-ed34-45af-9a38-cd556196c36b","block_type":"box","text":"Units, Insured Pension","page_number":207,"box":{"x":118,"y":883,"width":166,"height":10}},{"id":"25fcb2ec-6cd7-4956-a095-c6afe5fce555","block_type":"box","text":"Accumulation Units","page_number":207,"box":{"x":116,"y":896,"width":143,"height":9}},{"id":"c49bec78-ca0f-4a2f-a3ee-5aa351266f81","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":207,"box":{"x":352,"y":869,"width":404,"height":11}},{"id":"d5f40bda-af9c-4745-95fb-6ac02b0928cc","block_type":"box","text":"Unitholder","page_number":207,"box":{"x":353,"y":883,"width":75,"height":8}},{"id":"b2053573-7247-42e1-bb40-e29d6da2679a","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":207,"box":{"x":352,"y":902,"width":404,"height":11}},{"id":"c0b39112-f6c9-4a87-9db2-1f577f28d2a2","block_type":"box","text":"property","page_number":207,"box":{"x":353,"y":917,"width":60,"height":10}},{"id":"b167f069-76ee-46ad-b203-9098b623177c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":208,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"40e1d819-cc1b-4718-8172-3d52ad03e72b","block_type":"box","text":"208","page_number":208,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"708adf01-80ba-4c95-b5f6-91142193e365","block_type":"box","text":"Aviva Investors: Confidential","page_number":208,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"504e3f27-190c-44e2-b4d5-f2e59d3ef1da","block_type":"box","text":"UK Fund of Fund","page_number":208,"box":{"x":118,"y":53,"width":125,"height":9}},{"id":"c4a416d7-ad97-4a10-bc1e-2d5958a2a5f6","block_type":"box","text":"Accumulation Units","page_number":208,"box":{"x":116,"y":67,"width":143,"height":9}},{"id":"2c23f952-9be6-47b2-833f-ba2fd6f7bd35","block_type":"box","text":"ACS management charge: Deducted from Scheme","page_number":208,"box":{"x":352,"y":59,"width":404,"height":11}},{"id":"feffeaeb-2081-4f9f-98a3-63b8d182c971","block_type":"box","text":"Property of FoF Units.","page_number":208,"box":{"x":354,"y":73,"width":161,"height":11}},{"id":"a7f18b15-7c06-44c6-8e71-760ac8100a71","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":208,"box":{"x":352,"y":92,"width":404,"height":12}},{"id":"8a60cdf6-a167-4d89-b170-8902b6d56bbc","block_type":"box","text":"Property.","page_number":208,"box":{"x":354,"y":106,"width":65,"height":11}},{"id":"f3e2de36-fc39-4952-8840-af2b96573197","block_type":"box","text":"The ACS management charge deducted from Scheme","page_number":208,"box":{"x":352,"y":125,"width":404,"height":12}},{"id":"d4fd1b35-be92-4c70-98be-621304b2ec6b","block_type":"box","text":"Property shall be reduced by an amount equal to the","page_number":208,"box":{"x":354,"y":139,"width":403,"height":11}},{"id":"f93b9e2e-3a65-4496-a824-cd00b2b31e8b","block_type":"box","text":"Administration Charge deducted from the Scheme","page_number":208,"box":{"x":352,"y":153,"width":404,"height":11}},{"id":"422c4aff-f67c-47a4-b033-9949a08f4648","block_type":"box","text":"Property of that Sub-Fund and Unit Class in the","page_number":208,"box":{"x":354,"y":166,"width":402,"height":12}},{"id":"bae9564e-4013-4b69-8436-df2d126cd654","block_type":"box","text":"relevant period.","page_number":208,"box":{"x":353,"y":180,"width":113,"height":11}},{"id":"728ccb6d-439b-4c43-9549-80f847e16c39","block_type":"box","text":"Accounting Dates","page_number":208,"box":{"x":117,"y":206,"width":141,"height":12}},{"id":"71d579d7-2fdd-4cd2-b60a-3a513918501c","block_type":"box","text":"Annual Accounting Date","page_number":208,"box":{"x":116,"y":233,"width":180,"height":11}},{"id":"2944d9c8-78c2-4741-b5c8-f3e1662529a8","block_type":"box","text":"31 December","page_number":208,"box":{"x":353,"y":233,"width":100,"height":8}},{"id":"c7c0bbb5-ddd2-40b3-8fcd-ddaa8630a779","block_type":"box","text":"First Accounting Date","page_number":208,"box":{"x":118,"y":259,"width":158,"height":11}},{"id":"604f2098-65e6-4a3e-9b68-c0f6cabb13d6","block_type":"box","text":"31 December 2023","page_number":208,"box":{"x":353,"y":259,"width":141,"height":9}},{"id":"dc2ad2e0-c5ed-4585-9302-4e72e817c97a","block_type":"box","text":"Annual Income Allocation","page_number":208,"box":{"x":116,"y":285,"width":188,"height":8}},{"id":"8bbb08d0-451e-4c01-9be4-f35ef3f67842","block_type":"box","text":"Date","page_number":208,"box":{"x":118,"y":298,"width":33,"height":9}},{"id":"f49ea628-240e-4af1-84c2-dad4234508a1","block_type":"box","text":"On or before 28 /29 February","page_number":208,"box":{"x":353,"y":285,"width":217,"height":11}},{"id":"d982cd18-7e64-44c2-a160-add9d8118879","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":208,"box":{"x":118,"y":325,"width":293,"height":11}},{"id":"07868866-3f1c-45ab-9289-e48c181f1300","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":208,"box":{"x":62,"y":350,"width":861,"height":12}},{"id":"b7e7374a-0b5d-45b1-a913-242cd07c97c1","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":208,"box":{"x":62,"y":364,"width":408,"height":11}},{"id":"99b285db-d2a3-464a-996c-cbb93521b148","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":208,"box":{"x":62,"y":384,"width":642,"height":11}},{"id":"fb957c47-1b36-4825-97d5-a1c4a2c8ee2b","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":208,"box":{"x":62,"y":403,"width":860,"height":12}},{"id":"354d46b6-60ad-41dd-a9a9-80d3920293ae","block_type":"box","text":"this Prospectus.","page_number":208,"box":{"x":62,"y":417,"width":117,"height":11}},{"id":"31650dde-648d-40ec-a756-e5604b91f4d7","block_type":"box","text":"□","page_number":208,"box":{"x":62,"y":432,"width":5,"height":4}},{"id":"8b66da27-0816-4602-b61f-afa68261f10c","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":208,"box":{"x":74,"y":431,"width":342,"height":8}},{"id":"ce5a586b-1477-4d96-9adc-c4f1989fe753","block_type":"box","text":"□","page_number":208,"box":{"x":62,"y":460,"width":5,"height":3}},{"id":"9c2bf648-3cc2-4240-a4fc-7802c5b5505f","block_type":"box","text":"□","page_number":208,"box":{"x":69,"y":460,"width":5,"height":3}},{"id":"bc62aeee-a733-4e80-9c79-5b3e261b28c1","block_type":"box","text":"Our ESG assessments and exclusions are reliant on: (i) data provided by third party data providers; and (ii) AI and","page_number":208,"box":{"x":75,"y":458,"width":847,"height":11}},{"id":"00ebe005-e049-4f71-a279-99c5e97d1f95","block_type":"box","text":"third-party proprietary models. Data from these third-party data providers or used in our ESG models may be","page_number":208,"box":{"x":62,"y":472,"width":861,"height":11}},{"id":"0534ee68-b8b0-4478-9e57-332a607c4404","block_type":"box","text":"incomplete, inaccurate or unavailable. As a result, there is a risk that the Investment Manager may, from time to time,","page_number":208,"box":{"x":62,"y":485,"width":860,"height":12}},{"id":"ed9508d3-53d5-47b7-8114-c7cf98fb2cb3","block_type":"box","text":"incorrectly assess an asset. There is also a risk that the Investment Manager, or the third-party data providers on","page_number":208,"box":{"x":62,"y":499,"width":860,"height":11}},{"id":"dd58e34b-d0a5-497e-8a00-3cab85cd9ee1","block_type":"box","text":"which we may depend, may not interpret or apply the relevant ESG characteristics correctly. Our proprietary ESG tool","page_number":208,"box":{"x":62,"y":513,"width":860,"height":11}},{"id":"54e1f65c-355d-4c06-b874-2dbe0d81e8fa","block_type":"box","text":"emphasises the ESG factors which we determine are most closely correlated to potential financial outperformance.","page_number":208,"box":{"x":62,"y":526,"width":860,"height":11}},{"id":"57e88d21-e7c3-4540-94ef-e23c88744e8d","block_type":"box","text":"Accordingly, it should not be used as a comprehensive measure of the sustainability risks (or the overall ESG","page_number":208,"box":{"x":62,"y":540,"width":860,"height":11}},{"id":"b0b97b31-819f-4940-b690-ee55ae09fc57","block_type":"box","text":"quality/credentials) of a Sub-Fund.","page_number":208,"box":{"x":62,"y":554,"width":254,"height":11}},{"id":"c20bf6ac-cc51-4efe-a5be-9cf105e6fb37","block_type":"box","text":"Securities Financing and other Transactions:","page_number":208,"box":{"x":62,"y":599,"width":358,"height":11}},{"id":"c618803a-c04a-4655-b4b8-90774ba1fe2e","block_type":"box","text":"The types of assets which may be subject to TRS are limited to Equity Securities.","page_number":208,"box":{"x":62,"y":618,"width":601,"height":12}},{"id":"a0e244a4-4e78-4828-b35b-eec12200ed5e","block_type":"box","text":"The assets which may be subject to securities lending or repo transactions will be limited Equity Securities.","page_number":208,"box":{"x":62,"y":657,"width":790,"height":12}},{"id":"44284313-c84c-4de0-8e0c-25e768e9b508","block_type":"box","text":"Given that the Sub-Fund’s assets cannot be described as being ‘subject to’ TRS, the maximum and expected","page_number":208,"box":{"x":62,"y":697,"width":860,"height":11}},{"id":"0bd9b817-5bcd-4914-a286-de2a8a0c1832","block_type":"box","text":"percentages of TRS are given as the gross aggregate notional of TRS as a percentage of the NAV.","page_number":208,"box":{"x":62,"y":710,"width":734,"height":12}},{"id":"caf4fa70-d4ba-4b78-9089-a160d5c46b12","block_type":"box","text":"The maximum proportion of the assets of the Fund which may be subject to TRS, securities lending or repo","page_number":208,"box":{"x":62,"y":758,"width":799,"height":11}},{"id":"0883cfa8-d14c-4169-a4b4-2aeb3651a81f","block_type":"box","text":"transactions is as follows:","page_number":208,"box":{"x":62,"y":773,"width":188,"height":9}},{"id":"d334130a-e51a-4705-a21a-b4ffc7b7428c","block_type":"box","text":"Total Return Swaps","page_number":208,"box":{"x":71,"y":810,"width":133,"height":10}},{"id":"1b7f2572-50ba-4915-96e5-104d0d2bf09a","block_type":"box","text":"10%","page_number":208,"box":{"x":461,"y":810,"width":27,"height":8}},{"id":"2fa8ff38-cba8-4ebd-acd6-43399a0b4e61","block_type":"box","text":"Securities Lending","page_number":208,"box":{"x":72,"y":832,"width":125,"height":10}},{"id":"fc357f54-33e5-4541-98f7-d45191450871","block_type":"box","text":"50%","page_number":208,"box":{"x":460,"y":832,"width":28,"height":8}},{"id":"38580308-5425-4f20-b646-42baec9028c3","block_type":"box","text":"Repo Transactions","page_number":208,"box":{"x":71,"y":854,"width":125,"height":10}},{"id":"e8f8b890-94fc-4c1c-88fc-d0655d28b8d0","block_type":"box","text":"50%","page_number":208,"box":{"x":460,"y":854,"width":28,"height":8}},{"id":"89669e52-8659-480e-8ba1-415fdbf76b4c","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":208,"box":{"x":62,"y":895,"width":823,"height":11}},{"id":"4062b80f-de70-4938-b996-a4294f5be7bc","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to TRS, securities lending or","page_number":208,"box":{"x":62,"y":911,"width":833,"height":11}},{"id":"970811d0-aa61-4fea-81c8-ed92947e80da","block_type":"box","text":"repo transactions is as follows:","page_number":208,"box":{"x":63,"y":926,"width":226,"height":11}},{"id":"72536ae1-10a7-4ec9-95a7-5be7b2724cab","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":209,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"dde1fc58-2e47-4fd7-95eb-f25c273bede7","block_type":"box","text":"209","page_number":209,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"ad4ab82b-02e9-4263-a693-ca6f3604e711","block_type":"box","text":"Aviva Investors: Confidential","page_number":209,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"0488fe2f-144c-418f-890f-827162d61906","block_type":"box","text":"Total Return Swaps","page_number":209,"box":{"x":71,"y":61,"width":133,"height":11}},{"id":"302cd450-75c6-4305-bdae-fdc678b7854b","block_type":"box","text":"0%","page_number":209,"box":{"x":460,"y":61,"width":20,"height":9}},{"id":"3e1386b7-d0e9-453d-9434-81e2908645d3","block_type":"box","text":"Securities Lending","page_number":209,"box":{"x":72,"y":83,"width":125,"height":11}},{"id":"5a28dd2b-2f91-40fa-8574-1976c5d2a07d","block_type":"box","text":"25%","page_number":209,"box":{"x":460,"y":83,"width":28,"height":9}},{"id":"c79d569d-222e-4055-b29f-3fca477ddeba","block_type":"box","text":"Repo Transactions","page_number":209,"box":{"x":71,"y":105,"width":125,"height":11}},{"id":"03fb8db1-b401-4c89-8c95-2a828536aeab","block_type":"box","text":"1","page_number":209,"box":{"x":461,"y":105,"width":5,"height":8}},{"id":"50fdfd3c-7e3f-47fc-b3b9-db32a7541161","block_type":"box","text":"2","page_number":209,"box":{"x":468,"y":105,"width":8,"height":8}},{"id":"ee8bb8dc-e500-4790-9bdc-bca0c10151ba","block_type":"box","text":".","page_number":209,"box":{"x":477,"y":112,"width":2,"height":1}},{"id":"b0c830bd-37e8-475c-978d-9497f7a164f7","block_type":"box","text":"5%","page_number":209,"box":{"x":481,"y":105,"width":20,"height":9}},{"id":"c6d5cd0f-877a-4bcf-828c-f16e1a4a22d2","block_type":"box","text":"The expected proportion of AUM subject to TRS, securities lending or repo transactions is indicative only and,","page_number":209,"box":{"x":62,"y":147,"width":817,"height":11}},{"id":"709a135c-ccc9-4e00-8d52-507b5b838909","block_type":"box","text":"depending on market conditions and the strategies employed, the actual exposure may be outside of that range at","page_number":209,"box":{"x":62,"y":162,"width":845,"height":12}},{"id":"47ab514d-a790-4aff-bcaf-bdd6593bda57","block_type":"box","text":"any given point in time. There may be times when there the proportion of AUM subject to TRS, securities lending or","page_number":209,"box":{"x":62,"y":178,"width":854,"height":11}},{"id":"f9433979-e443-4111-a1f9-c0902a96be76","block_type":"box","text":"repo transactions is zero.","page_number":209,"box":{"x":63,"y":194,"width":184,"height":11}},{"id":"be65f2ed-d2fa-4eac-b17b-1a32ac008872","block_type":"box","text":"Leverage","page_number":209,"box":{"x":63,"y":241,"width":72,"height":11}},{"id":"e3377cd1-134a-47d3-9e74-3cc25cdb6358","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":209,"box":{"x":63,"y":261,"width":860,"height":11}},{"id":"8748ca9d-4adf-471c-8754-c5dec0266ed9","block_type":"box","text":"management.","page_number":209,"box":{"x":62,"y":275,"width":101,"height":10}},{"id":"9240ca7f-d6b2-457a-acfe-e73a77978460","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":209,"box":{"x":62,"y":307,"width":860,"height":12}},{"id":"0a0a0a50-b847-4edb-a472-a240e357a6ff","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":209,"box":{"x":62,"y":321,"width":649,"height":11}},{"id":"a730959c-53e3-41f1-a6ff-3348c40fc783","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":209,"box":{"x":62,"y":348,"width":755,"height":12}},{"id":"10a8c833-bfb2-4e27-80d0-ea8d5f08afcd","block_type":"box","text":"Permitted derivatives","page_number":209,"box":{"x":72,"y":378,"width":168,"height":9}},{"id":"ae9f7ec4-1f90-417b-880d-b059f1abfe8d","block_type":"box","text":"Permitted?","page_number":209,"box":{"x":383,"y":378,"width":85,"height":9}},{"id":"4ae54cc0-0999-4d92-b3da-77188c1bf71d","block_type":"box","text":"Prohibited?","page_number":209,"box":{"x":489,"y":378,"width":91,"height":9}},{"id":"4ba54ed0-0444-4dfa-bcfb-014ef7ad0177","block_type":"box","text":"Equity index futures","page_number":209,"box":{"x":72,"y":399,"width":146,"height":11}},{"id":"f0f2d0c0-2ace-468c-9444-1d6be3e0f8ab","block_type":"box","text":"√","page_number":209,"box":{"x":421,"y":399,"width":8,"height":8}},{"id":"e82a56d8-02f9-489a-82e3-6484267ccb21","block_type":"box","text":"Government bond futures","page_number":209,"box":{"x":72,"y":417,"width":188,"height":9}},{"id":"154c31ed-1b35-4c36-bf8a-d17675f141ff","block_type":"box","text":"√","page_number":209,"box":{"x":530,"y":418,"width":8,"height":7}},{"id":"5644c37f-1641-45fe-b22d-bcabaf1e162f","block_type":"box","text":"Equity index options","page_number":209,"box":{"x":72,"y":436,"width":148,"height":11}},{"id":"7b315e3c-2422-429f-9d28-749f65f906ef","block_type":"box","text":"√","page_number":209,"box":{"x":530,"y":436,"width":8,"height":8}},{"id":"8041f299-0690-4474-99c5-b2b459520124","block_type":"box","text":"Forward foreign exchange","page_number":209,"box":{"x":72,"y":454,"width":193,"height":11}},{"id":"0d9555a0-80ac-4783-8095-8c458733c69a","block_type":"box","text":"√","page_number":209,"box":{"x":421,"y":454,"width":8,"height":8}},{"id":"1a955ba2-9aec-4b9d-9653-3bb684cf0da0","block_type":"box","text":"Index credit default swaps","page_number":209,"box":{"x":72,"y":472,"width":192,"height":12}},{"id":"f14bdb02-351d-4225-9277-5a62c6ce25b0","block_type":"box","text":"√","page_number":209,"box":{"x":530,"y":473,"width":8,"height":8}},{"id":"0e2e3b1b-d20c-4da5-85aa-cbf12331a594","block_type":"box","text":"Interest rate swaps","page_number":209,"box":{"x":72,"y":491,"width":140,"height":11}},{"id":"d9b8d5e5-07c6-4804-9428-68d664a995e1","block_type":"box","text":"√","page_number":209,"box":{"x":530,"y":491,"width":8,"height":8}},{"id":"d7695fef-1ca1-4f8c-9bc0-832747eee6ae","block_type":"box","text":"OTC equity options","page_number":209,"box":{"x":72,"y":509,"width":142,"height":11}},{"id":"c92ea74d-5829-4db8-bd2f-101f10493a17","block_type":"box","text":"√","page_number":209,"box":{"x":530,"y":510,"width":8,"height":7}},{"id":"7ee74679-24f1-457f-9279-6282984bd1db","block_type":"box","text":"Inflation swaps","page_number":209,"box":{"x":72,"y":528,"width":109,"height":11}},{"id":"a3481d09-7d72-416f-9434-547a03f2b25f","block_type":"box","text":"√","page_number":209,"box":{"x":530,"y":528,"width":8,"height":8}},{"id":"3153a9c1-cb72-4d7b-9e3d-abf3d3137824","block_type":"box","text":"Cross currency swaps","page_number":209,"box":{"x":72,"y":546,"width":163,"height":11}},{"id":"178bb6e1-dcec-46a1-9c4d-15c0e4a2a1a6","block_type":"box","text":"√","page_number":209,"box":{"x":530,"y":547,"width":8,"height":7}},{"id":"52696354-98b8-4a52-90cc-d9a03c7725f7","block_type":"box","text":"Equity TRS -single name","page_number":209,"box":{"x":72,"y":562,"width":184,"height":12}},{"id":"7d8dd59a-df3a-4dbe-932f-54731cf4e80a","block_type":"box","text":"√","page_number":209,"box":{"x":421,"y":565,"width":8,"height":8}},{"id":"f530a506-7438-4991-b8c8-c2a064fcc304","block_type":"box","text":"Equity TRS - index","page_number":209,"box":{"x":72,"y":581,"width":138,"height":11}},{"id":"f74fb5b3-ca2b-4600-9d79-d82ae8c96d0f","block_type":"box","text":"√","page_number":209,"box":{"x":421,"y":583,"width":8,"height":8}},{"id":"cd67ac2f-d331-48bc-9d7d-870b4a9bfaf4","block_type":"box","text":"Other","page_number":209,"box":{"x":72,"y":601,"width":41,"height":9}},{"id":"1d832af2-ef04-4663-a53c-673ac25d7b36","block_type":"box","text":"√","page_number":209,"box":{"x":530,"y":602,"width":8,"height":7}},{"id":"8d752394-3393-4daa-b33a-d1ccb5162bed","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":209,"box":{"x":63,"y":643,"width":860,"height":11}},{"id":"da40ddd7-ebf5-4d4e-945b-c10e6df86150","block_type":"box","text":"2).","page_number":209,"box":{"x":62,"y":657,"width":17,"height":11}},{"id":"b449246c-9f77-430c-8066-c8529ad9d551","block_type":"box","text":"Leverage Limits","page_number":209,"box":{"x":63,"y":684,"width":128,"height":11}},{"id":"51867a3f-c3a5-4110-8852-5d915d67734a","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":209,"box":{"x":200,"y":684,"width":722,"height":11}},{"id":"59efa7ab-abf7-436d-9286-d11f83e9db15","block_type":"box","text":"Regime):","page_number":209,"box":{"x":63,"y":697,"width":65,"height":12}},{"id":"cdbce17a-669a-4492-bb77-30ecd55cbfb0","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":209,"box":{"x":62,"y":725,"width":471,"height":11}},{"id":"b676cddc-72a2-4f4d-9b91-1f722b330b5e","block_type":"box","text":"","page_number":209,"box":{"x":62,"y":756,"width":6,"height":4}},{"id":"698e1d1f-5395-43cf-a8c1-ed6cbfb085c1","block_type":"box","text":"Gross Method: Up to 1.1:1","page_number":209,"box":{"x":92,"y":753,"width":193,"height":11}},{"id":"c1177830-7888-4f05-b96e-6ce5a174598f","block_type":"box","text":"","page_number":209,"box":{"x":62,"y":773,"width":6,"height":4}},{"id":"06b8442c-e48c-4cb3-b647-c9d5ae70a32a","block_type":"box","text":"Commitment: Up to 1.1:1","page_number":209,"box":{"x":92,"y":769,"width":183,"height":12}},{"id":"e8b34f28-4f77-417a-92c0-a33d833444b4","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":209,"box":{"x":62,"y":797,"width":860,"height":11}},{"id":"6bec25fd-5536-4248-aa9e-53ba509ce617","block_type":"box","text":"which case leverage will not exceed the following:","page_number":209,"box":{"x":62,"y":811,"width":368,"height":11}},{"id":"ad06185e-8826-41ed-a15d-8f30d54abd10","block_type":"box","text":"","page_number":209,"box":{"x":62,"y":842,"width":6,"height":4}},{"id":"a0cb3b6f-9cca-42af-a142-107be08492fa","block_type":"box","text":"Gross Method: Up to 2:1","page_number":209,"box":{"x":92,"y":839,"width":179,"height":11}},{"id":"31af4a16-a45e-49a0-bc98-430b2c10500e","block_type":"box","text":"","page_number":209,"box":{"x":62,"y":859,"width":6,"height":4}},{"id":"23b2a583-b2f8-4a6f-8070-350be2ca38ae","block_type":"box","text":"Commitment: Up to 1.5:1","page_number":209,"box":{"x":92,"y":855,"width":183,"height":11}},{"id":"aa9dc8bc-2ce4-4af4-afdd-209aca6586e7","block_type":"box","text":"Specific Risks","page_number":209,"box":{"x":62,"y":902,"width":113,"height":12}},{"id":"dfce4e36-56d3-4519-9703-4444ad5f2e91","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":209,"box":{"x":181,"y":903,"width":462,"height":11}},{"id":"8e8632a1-9e4c-48a3-bc3d-5f70f6c09de3","block_type":"box","text":"","page_number":209,"box":{"x":62,"y":926,"width":6,"height":4}},{"id":"73b6d115-5d49-4e0a-81d3-fb56c13fdcbc","block_type":"box","text":"Single Market","page_number":209,"box":{"x":92,"y":923,"width":102,"height":11}},{"id":"296de118-fd8b-484d-8f69-e970b1079361","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":210,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"8f154615-fa50-41e1-90d9-661a86be8742","block_type":"box","text":"210","page_number":210,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"b40789be-0b11-4e7e-ab9b-c9c036fec80c","block_type":"box","text":"Aviva Investors: Confidential","page_number":210,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"f05a76ea-d153-4a5e-880e-6ad27c0e7687","block_type":"box","text":"","page_number":210,"box":{"x":62,"y":57,"width":6,"height":4}},{"id":"53f94f54-42b0-402a-9a2f-bd1bbfb6749f","block_type":"box","text":"Equity Securities","page_number":210,"box":{"x":93,"y":53,"width":123,"height":12}},{"id":"e97092c6-b1c3-440e-ada7-bcc75b4f0363","block_type":"box","text":"","page_number":210,"box":{"x":62,"y":71,"width":6,"height":4}},{"id":"72a78cc9-911b-478c-9ccb-7db5980c1f99","block_type":"box","text":"Benchmark Indices","page_number":210,"box":{"x":93,"y":68,"width":140,"height":9}},{"id":"e52c8ed2-62e3-4e24-9017-e9f437fb9156","block_type":"box","text":"","page_number":210,"box":{"x":62,"y":85,"width":6,"height":5}},{"id":"6d817f6c-b4c7-4141-9e69-a759c628cf71","block_type":"box","text":"Index-Related Risk","page_number":210,"box":{"x":93,"y":82,"width":140,"height":9}},{"id":"7fd6980d-047c-457f-9c15-dde0303535c0","block_type":"box","text":"","page_number":210,"box":{"x":62,"y":100,"width":6,"height":4}},{"id":"efc72544-d5cd-48fd-a903-0f65517892ea","block_type":"box","text":"Tracking Error","page_number":210,"box":{"x":92,"y":97,"width":106,"height":11}},{"id":"4736fef2-7371-426c-9996-623bc56ca685","block_type":"box","text":"Past Performance – Aviva Investors Japan Equity Core Fund","page_number":210,"box":{"x":72,"y":142,"width":481,"height":12}},{"id":"1b51ddcf-bf3b-428e-a152-169635438196","block_type":"box","text":"% Growth","page_number":210,"box":{"x":71,"y":162,"width":77,"height":9}},{"id":"6bf3d9b5-1f8c-429d-bbd9-00d0ba523aa9","block_type":"box","text":"1/1/2024 to","page_number":210,"box":{"x":281,"y":188,"width":103,"height":8}},{"id":"28825186-66cf-4d92-ab13-8a00f4a5bee5","block_type":"box","text":"31/12/2024","page_number":210,"box":{"x":280,"y":200,"width":75,"height":8}},{"id":"7d6de340-72e6-4912-8376-c8cf1a3d1279","block_type":"box","text":"1/1/2023 to","page_number":210,"box":{"x":404,"y":188,"width":94,"height":8}},{"id":"9001db24-36ff-4c26-81e3-5ca45504406f","block_type":"box","text":"31/12/2023","page_number":210,"box":{"x":403,"y":200,"width":75,"height":8}},{"id":"5b4fda2d-3d75-4315-8ba8-ef20ea745762","block_type":"box","text":"1/1/2022 to","page_number":210,"box":{"x":517,"y":188,"width":94,"height":8}},{"id":"22ceea4e-7ea6-4a4b-a2c3-2574609b9303","block_type":"box","text":"31/12/2022","page_number":210,"box":{"x":516,"y":200,"width":75,"height":8}},{"id":"94f86f50-8517-45e8-9630-c07177451ca9","block_type":"box","text":"1/1/2021 to","page_number":210,"box":{"x":631,"y":188,"width":94,"height":8}},{"id":"4aa7907c-7bd3-4e65-a342-216a8870f95c","block_type":"box","text":"31/12/2021","page_number":210,"box":{"x":630,"y":200,"width":73,"height":8}},{"id":"60cfd30d-f652-40fd-b642-fc586336161d","block_type":"box","text":"1/1/2020 to","page_number":210,"box":{"x":744,"y":188,"width":94,"height":8}},{"id":"a2996968-457d-4534-81d2-51730af36ba6","block_type":"box","text":"31/12/2020","page_number":210,"box":{"x":743,"y":200,"width":75,"height":8}},{"id":"57decb5d-a077-426c-86b5-4d433f24ffad","block_type":"box","text":"UK Corporate Income","page_number":210,"box":{"x":72,"y":225,"width":189,"height":10}},{"id":"d65d8579-3b0e-4a65-a75b-1950a9fedc7e","block_type":"box","text":"Distribution Units (%)","page_number":210,"box":{"x":72,"y":237,"width":140,"height":10}},{"id":"1a655315-f3e8-43f8-865b-3ee64a874753","block_type":"box","text":"Insured Pension Income","page_number":210,"box":{"x":72,"y":262,"width":189,"height":8}},{"id":"b2b5fe5e-a967-49a6-b235-575edd80c3a2","block_type":"box","text":"Distribution Units (%)","page_number":210,"box":{"x":72,"y":274,"width":140,"height":10}},{"id":"d39c63b8-75d3-42e4-8578-0bc5c0c86a49","block_type":"box","text":"UK Institutional","page_number":210,"box":{"x":72,"y":299,"width":189,"height":8}},{"id":"53706fab-9f14-4843-8993-da5421bafe2c","block_type":"box","text":"Accumulation Units (%)","page_number":210,"box":{"x":71,"y":311,"width":156,"height":10}},{"id":"bccb2af8-67c3-4fd5-a02c-e8fb72a53747","block_type":"box","text":"ACS (Fund of Fund)","page_number":210,"box":{"x":71,"y":336,"width":190,"height":10}},{"id":"1ac0bc5d-d445-40f2-bbfa-819f588227c8","block_type":"box","text":"Accumulation Units Class 1","page_number":210,"box":{"x":71,"y":348,"width":188,"height":8}},{"id":"a898fe45-d2a2-4078-899d-cfcf19880016","block_type":"box","text":"(%)","page_number":210,"box":{"x":72,"y":361,"width":21,"height":10}},{"id":"7148ef15-a0d3-4d25-ba08-2fd329174203","block_type":"box","text":"ACS (Fund of Fund)","page_number":210,"box":{"x":71,"y":385,"width":190,"height":10}},{"id":"dd4cf0ce-66cd-475c-a266-3ff0d8741284","block_type":"box","text":"Accumulation Units Class 2","page_number":210,"box":{"x":71,"y":398,"width":190,"height":8}},{"id":"ab1bdd8c-bbd6-45fd-8c0f-de79dbb224bd","block_type":"box","text":"(%)","page_number":210,"box":{"x":72,"y":410,"width":21,"height":10}},{"id":"68a61ebb-9894-42b8-9d6c-ed056ee57548","block_type":"box","text":"UK Corporate Accumulation","page_number":210,"box":{"x":72,"y":435,"width":189,"height":10}},{"id":"8aff9cad-2854-4004-9c26-99669415da2f","block_type":"box","text":"Units (%)","page_number":210,"box":{"x":72,"y":447,"width":60,"height":10}},{"id":"a9c33cb7-4466-4bce-b3c1-0332c3e08bd8","block_type":"box","text":"12.38","page_number":210,"box":{"x":281,"y":435,"width":36,"height":8}},{"id":"0eae7eaa-8815-432d-a424-1d9b7c5fc683","block_type":"box","text":"13.24","page_number":210,"box":{"x":404,"y":435,"width":36,"height":8}},{"id":"bb076bd2-419e-4184-a085-d82f8c6a6307","block_type":"box","text":"N/A","page_number":210,"box":{"x":517,"y":435,"width":24,"height":8}},{"id":"354b9777-e5a8-4f36-ab01-66d1a1bd5092","block_type":"box","text":"N/A","page_number":210,"box":{"x":631,"y":435,"width":24,"height":8}},{"id":"809de6c2-0938-4e95-b7b8-fcd18cfba35b","block_type":"box","text":"N/A","page_number":210,"box":{"x":744,"y":435,"width":24,"height":8}},{"id":"db08c187-4adf-4124-9c97-a0d535a0e6ad","block_type":"box","text":"Insured Pension","page_number":210,"box":{"x":72,"y":478,"width":189,"height":8}},{"id":"a79fd1ab-e0c2-4095-8fb7-e3705d21bb1f","block_type":"box","text":"Accumulation Units (%)","page_number":210,"box":{"x":71,"y":490,"width":156,"height":10}},{"id":"d8abfd21-872a-47bf-b1a3-896a55d5b579","block_type":"box","text":"12.64","page_number":210,"box":{"x":281,"y":478,"width":36,"height":8}},{"id":"4e53bd47-ae2c-4154-b40c-528282a7f102","block_type":"box","text":"13.45","page_number":210,"box":{"x":404,"y":478,"width":36,"height":8}},{"id":"4e7c2e92-ba52-48a7-a028-7774a52017a1","block_type":"box","text":"N/A","page_number":210,"box":{"x":517,"y":478,"width":24,"height":8}},{"id":"3088c36e-f1f7-4b45-a5f2-6b68b4cca4da","block_type":"box","text":"N/A","page_number":210,"box":{"x":631,"y":478,"width":24,"height":8}},{"id":"0654232f-2584-4602-94ae-94497e3be717","block_type":"box","text":"N/A","page_number":210,"box":{"x":744,"y":478,"width":24,"height":8}},{"id":"0e1c970a-87af-4bb7-82ee-539a572e82b2","block_type":"box","text":"UK Fund of Fund","page_number":210,"box":{"x":72,"y":521,"width":189,"height":8}},{"id":"aa880d4f-8326-4121-923c-6fcfc0f3b50c","block_type":"box","text":"Accumulation Units (%)","page_number":210,"box":{"x":71,"y":533,"width":156,"height":10}},{"id":"1345d4cf-d92e-4e0a-96c5-6cca2ff19f21","block_type":"box","text":"12.30","page_number":210,"box":{"x":281,"y":521,"width":36,"height":8}},{"id":"f091d7a9-625c-4945-8df0-e3986f64b646","block_type":"box","text":"13.24","page_number":210,"box":{"x":404,"y":521,"width":36,"height":8}},{"id":"4785303b-4a1f-4e4a-b09d-e7a51c4cd693","block_type":"box","text":"N/A","page_number":210,"box":{"x":517,"y":521,"width":24,"height":8}},{"id":"44d9d68c-a597-4afa-813e-3c40bcf3f2e1","block_type":"box","text":"N/A","page_number":210,"box":{"x":631,"y":521,"width":24,"height":8}},{"id":"23cfdc5c-371a-4c7f-a977-5ca2c4381d94","block_type":"box","text":"N/A","page_number":210,"box":{"x":744,"y":521,"width":24,"height":8}},{"id":"c543dfe4-a53d-47fb-b227-0c0038787a5e","block_type":"box","text":"MSCI® Japan Index (GBP) 10.62","page_number":210,"box":{"x":72,"y":567,"width":246,"height":10}},{"id":"cefdb82e-5dbc-4e1f-bd5a-1911c60c3924","block_type":"box","text":"6.67","page_number":210,"box":{"x":404,"y":567,"width":30,"height":8}},{"id":"7b2cd7e9-1024-48b5-848f-3c730d3c2a3e","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":211,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"8b9a3d08-b7da-4aa9-b395-24b2bd6d29cf","block_type":"box","text":"211","page_number":211,"box":{"x":780,"y":940,"width":17,"height":6}},{"id":"878ed8a5-f1eb-43c8-88a1-6d859b037aaf","block_type":"box","text":"Aviva Investors: Confidential","page_number":211,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"decb2b7a-47d2-4f1c-900e-34030b93fccb","block_type":"box","text":"Aviva Investors Pacific Equity ex Japan Core Fund","page_number":211,"box":{"x":62,"y":53,"width":403,"height":11}},{"id":"16f05982-2e1d-47cf-9b66-84e0df599a29","block_type":"box","text":"FCA product reference number: 985193","page_number":211,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"f6e55545-2d58-4a10-8579-c52853deba81","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":211,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"47a46e08-8c73-4076-8265-4fa29051c3c6","block_type":"box","text":"was authorised by the FCA on 12 October 2022.","page_number":211,"box":{"x":62,"y":125,"width":357,"height":11}},{"id":"e1e64d04-2694-40c2-b1a2-f4614b339ee7","block_type":"box","text":"Investment Objective and Policy","page_number":211,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"7bbec91f-02dc-4d32-8821-6fd0567c6f34","block_type":"box","text":"The Sub-Fund aims to deliver returns which are similar to the returns of the MSCI® Pacific ex Japan Index (GBP)","page_number":211,"box":{"x":62,"y":184,"width":860,"height":11}},{"id":"452845bd-d106-44db-b21f-619892bc59c2","block_type":"box","text":"(the “","page_number":211,"box":{"x":63,"y":197,"width":40,"height":11}},{"id":"6c00298c-9cab-4fd1-82b3-960e63d9751c","block_type":"box","text":"Index","page_number":211,"box":{"x":104,"y":198,"width":43,"height":8}},{"id":"d77ed4e0-217f-4f7f-bc0f-b250a383398e","block_type":"box","text":"”) over a rolling 12 month period (before charges and taxes) whilst investing in accordance with the","page_number":211,"box":{"x":147,"y":197,"width":776,"height":12}},{"id":"258347c4-e3e2-4d39-aaa0-593fc01a3eeb","block_type":"box","text":"investment strategy of the Sub-Fund.","page_number":211,"box":{"x":62,"y":211,"width":273,"height":11}},{"id":"e6355845-7335-44fe-9c78-525027c487e0","block_type":"box","text":"Core investment:","page_number":211,"box":{"x":62,"y":250,"width":135,"height":9}},{"id":"2d3bb545-7a37-4342-a4c4-5e212aad7d3e","block_type":"box","text":"The Sub-Fund will invest to form a portfolio representative of the core regional market, as represented by the Index.","page_number":211,"box":{"x":62,"y":270,"width":860,"height":11}},{"id":"da058e33-68f9-4ae7-b34d-5b9c2d0b9c5e","block_type":"box","text":"It will therefore invest a minimum of 80% in shares of companies that make up the Index.","page_number":211,"box":{"x":63,"y":283,"width":656,"height":12}},{"id":"4e1e73ec-2abf-40bd-a901-91e834aebbbe","block_type":"box","text":"Other investments:","page_number":211,"box":{"x":62,"y":323,"width":151,"height":8}},{"id":"fee1d4d2-97c7-462d-8680-d075ddbb82c8","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies),","page_number":211,"box":{"x":62,"y":342,"width":860,"height":12}},{"id":"8f8b1a7b-d35a-4601-a32b-d13479effdfe","block_type":"box","text":"money market instruments, cash and deposits. Derivatives and forward transaction may be used from time to time to","page_number":211,"box":{"x":62,"y":356,"width":861,"height":11}},{"id":"5bfae0f3-20f5-47b8-8f49-9ebfd0ab8841","block_type":"box","text":"gain a particular market exposure which would otherwise be difficult or costly to achieve, to manage the Sub-Fund’s","page_number":211,"box":{"x":62,"y":369,"width":861,"height":12}},{"id":"d3e8b646-2014-411e-855a-3666953b5a97","block_type":"box","text":"cash flows in a cost-effective manner, or to reduce foreign currency risk within the Sub-Fund.","page_number":211,"box":{"x":62,"y":383,"width":687,"height":11}},{"id":"e60f7961-9a3d-4c55-82db-1cc499dfe510","block_type":"box","text":"Investment Strategy and ESG Overlay","page_number":211,"box":{"x":62,"y":422,"width":301,"height":12}},{"id":"d073bb28-a48b-438c-a65c-635ac71a3aa1","block_type":"box","text":"□","page_number":211,"box":{"x":368,"y":424,"width":5,"height":3}},{"id":"5ce1c657-6b61-4c90-9849-9f8f9eba1d51","block_type":"box","text":"□","page_number":211,"box":{"x":375,"y":424,"width":5,"height":3}},{"id":"57dc1328-40c1-4c25-8cae-376f1a4fcd6f","block_type":"box","text":":","page_number":211,"box":{"x":382,"y":425,"width":2,"height":6}},{"id":"b2c5d2f3-4806-4ed5-b6d8-9a39895ab629","block_type":"box","text":"The Fund does not have any sustainability-related investment objectives. However, when selecting companies, the","page_number":211,"box":{"x":62,"y":442,"width":861,"height":11}},{"id":"ee897d7c-1998-48b0-9f6b-5d13a95613f6","block_type":"box","text":"Investment Manager uses a passive sampling approach together with Aviva Investors’ baseline exclusion policy and","page_number":211,"box":{"x":63,"y":456,"width":860,"height":11}},{"id":"ced93e24-0c67-4e23-9645-a302da68a796","block_type":"box","text":"an active ESG Overlay (as described below). The Fund’s strategy is designed to deliver, on average over a 12 month","page_number":211,"box":{"x":62,"y":469,"width":860,"height":12}},{"id":"20780e62-b958-4c1a-a360-e084b9252727","block_type":"box","text":"rolling period, a higher ESG score and lower carbon intensity score than the Index (measured using month end data),","page_number":211,"box":{"x":63,"y":483,"width":859,"height":11}},{"id":"aacaec58-c342-44b4-8826-faee191c0ad2","block_type":"box","text":"whilst also seeking to minimise the Fund’s tracking error to that Index. This means that the portfolio is created by first","page_number":211,"box":{"x":62,"y":497,"width":861,"height":11}},{"id":"7f417a37-6b80-400f-bac1-2ec9ac562bc9","block_type":"box","text":"removing the excluded companies from the Index universe, then either overweighting, underweighting or excluding","page_number":211,"box":{"x":63,"y":510,"width":860,"height":12}},{"id":"4c80449d-0cd0-40f2-af28-9d7ec3995f86","block_type":"box","text":"holdings relative to the Index based on both their ESG scores and carbon intensity scores (the ESG Overlay) and","page_number":211,"box":{"x":62,"y":524,"width":860,"height":11}},{"id":"ad6f3297-2ef6-4559-aa6f-8bbb8c0f0f3b","block_type":"box","text":"potential to deliver returns similar to the Index. Individual holdings do not need to achieve a specific or minimum ESG","page_number":211,"box":{"x":62,"y":537,"width":860,"height":12}},{"id":"bec37182-3145-4ed0-a991-e221e24b2e2f","block_type":"box","text":"score or maximum carbon intensity score to be selected for investment, and therefore the Sub-Fund will hold","page_number":211,"box":{"x":62,"y":551,"width":861,"height":11}},{"id":"e2254637-ee3f-4f6e-b79f-b6cbf57c1b42","block_type":"box","text":"companies that could be considered to have low ESG scores or high carbon intensity scores.","page_number":211,"box":{"x":62,"y":565,"width":688,"height":11}},{"id":"c84cc73a-6ab7-4701-977a-8b2e6274f70f","block_type":"box","text":"The Investment Manager will also seek to minimise the Sub-Fund’s tracking error to the Index. However, the ESG","page_number":211,"box":{"x":62,"y":598,"width":860,"height":11}},{"id":"0728189d-10c7-4c6c-8345-d58478eba4dc","block_type":"box","text":"Overlay may limit the choice of investments available to the Sub-Fund and therefore it may not perform in line (either","page_number":211,"box":{"x":62,"y":612,"width":862,"height":11}},{"id":"d305c2e7-d142-41cd-87b8-d2d42296b4b8","block_type":"box","text":"positively or negatively) with the Index or other similar funds that have a broader investment policy.","page_number":211,"box":{"x":62,"y":625,"width":731,"height":12}},{"id":"9917973e-1ade-43f8-8ed1-67396e6ce673","block_type":"box","text":"ESG scores assess a company’s resilience to financially material environmental, societal and governance risks, in","page_number":211,"box":{"x":63,"y":653,"width":859,"height":11}},{"id":"7ad8e4e5-5f34-4fdf-8416-95f92bf37e2f","block_type":"box","text":"each case being risks to their financial performance relative to other companies in the same sector. Carbon intensity","page_number":211,"box":{"x":62,"y":666,"width":861,"height":12}},{"id":"1c8125f8-38e4-49dc-a0b5-a9a2e3733bdf","block_type":"box","text":"scores measure how carbon-intensive a company’s activities are and provides a comparable metric for assessment","page_number":211,"box":{"x":62,"y":680,"width":861,"height":11}},{"id":"25701b43-24ec-431c-aea8-5001c9dae4b7","block_type":"box","text":"against peers, portfolios and benchmarks.","page_number":211,"box":{"x":62,"y":694,"width":310,"height":11}},{"id":"20e5e7e0-2e48-4e9a-8808-80ba9280dcaf","block_type":"box","text":"The Sub-Fund’s holdings will be reviewed and, if necessary, rebalanced quarterly and/or on an ad hoc basis when","page_number":211,"box":{"x":62,"y":721,"width":860,"height":11}},{"id":"2e4304e2-cda9-40d0-9330-f79832626f49","block_type":"box","text":"the Investment Manager is of the opinion that market conditions dictate, taking into account any changes to companies","page_number":211,"box":{"x":62,"y":735,"width":861,"height":11}},{"id":"0c3b5885-2f6a-4e40-9c35-e09fb3446bc8","block_type":"box","text":"in the Index, the latest available data and market conditions.","page_number":211,"box":{"x":62,"y":749,"width":444,"height":10}},{"id":"3f6bef7e-3f76-404d-8e66-0b14c779bc54","block_type":"box","text":"Further information on the ESG Overlay is set out in Appendix 4. Further information on the baseline","page_number":211,"box":{"x":63,"y":781,"width":860,"height":12}},{"id":"a7537730-ce03-4f05-ba8b-003629f1b44e","block_type":"box","text":"exclusion policy is set out in Appendix 2.","page_number":211,"box":{"x":62,"y":795,"width":327,"height":12}},{"id":"b076f818-e0a5-4656-8c9b-b2c5d2ef0253","block_type":"box","text":"Performance & Risk Strategy:","page_number":211,"box":{"x":63,"y":834,"width":234,"height":12}},{"id":"be5517c1-b0de-4ccb-89f6-21ecc8da8daa","block_type":"box","text":"The Sub-Fund’s performance is measured against the Index over a rolling 12 month period, before charges and taxes.","page_number":211,"box":{"x":62,"y":854,"width":860,"height":11}},{"id":"5b25baba-62ec-440a-b707-ed874b9d65f5","block_type":"box","text":"However, the Sub-Fund will not hold every company in the Index and may also hold investments that do not form part","page_number":211,"box":{"x":63,"y":868,"width":860,"height":11}},{"id":"eed5acfb-2bde-4cc8-b776-c614c098f7b5","block_type":"box","text":"of the Index.","page_number":211,"box":{"x":62,"y":881,"width":90,"height":9}},{"id":"3d4e8d8e-7c7d-4517-855d-6d3ec46bdf04","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":212,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"9b70c945-8802-49c1-8ade-571ba7699559","block_type":"box","text":"212","page_number":212,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"55c68dd1-a561-4598-83d3-48520ad406e0","block_type":"box","text":"Aviva Investors: Confidential","page_number":212,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"ae507bd9-3110-4ca8-86e9-0280a2ad3f3c","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund’s returns and the returns of","page_number":212,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"d009e6ab-a2a4-4916-a79b-8ba8848714bf","block_type":"box","text":"the Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":212,"box":{"x":62,"y":66,"width":860,"height":11}},{"id":"b2390e0e-fa46-4a2c-9449-4acb7c5903dc","block_type":"box","text":"and vice-versa.","page_number":212,"box":{"x":62,"y":80,"width":112,"height":9}},{"id":"2c124454-ebc8-464c-9be0-4ff6e448cb31","block_type":"box","text":"The Sub-Fund is expected to have an average yearly tracking error of between 0% to 1.00% when compared to the","page_number":212,"box":{"x":62,"y":107,"width":861,"height":11}},{"id":"86d9a993-d73b-4e3e-8d72-25996ad729d6","block_type":"box","text":"Index (excluding charges and taxes). However, there may be times when the Sub-Fund operates outside of this range.","page_number":212,"box":{"x":63,"y":121,"width":859,"height":11}},{"id":"b5184a65-0765-4fe4-be56-4cc6d6952f2c","block_type":"box","text":"The Investment Manager will review the tracking error range on a periodic basis and, if appropriate, may update the","page_number":212,"box":{"x":62,"y":134,"width":861,"height":12}},{"id":"dd00ee2b-9a28-43d0-bdc4-58c51f848235","block_type":"box","text":"range by updating this Prospectus.","page_number":212,"box":{"x":63,"y":148,"width":256,"height":11}},{"id":"e89df850-e3fd-43e1-a47f-41f30d469a16","block_type":"box","text":"T","page_number":212,"box":{"x":61,"y":177,"width":8,"height":7}},{"id":"1896b9e8-9328-4251-838f-dbf250dfacc5","block_type":"box","text":"he Index captures large and medium sized companies across four of five developed market countries in the Pacific","page_number":212,"box":{"x":71,"y":176,"width":852,"height":11}},{"id":"dc446f5f-7acb-485a-851f-0376c7d3f3e5","block_type":"box","text":"region, excluding Japan, covering 85% of the free float-adjusted market capitalisation in each country. The Index has","page_number":212,"box":{"x":63,"y":190,"width":860,"height":11}},{"id":"3723fc23-d5f7-4b44-a463-86c29dfa99c0","block_type":"box","text":"been selected as a measure for performance because it is representative of the type of assets in which the Sub-Fund","page_number":212,"box":{"x":62,"y":203,"width":860,"height":12}},{"id":"d54d7ee5-86cf-4d32-9968-c65a0ec17ce3","block_type":"box","text":"is likely to invest, and it is therefore an appropriate measure for the Sub-Fund’s performance.","page_number":212,"box":{"x":62,"y":217,"width":688,"height":11}},{"id":"435e63c2-69c4-4d6c-a0ab-5ee6a141b248","block_type":"box","text":"To allow assessment of the Sub-Fund’s ESG outcomes, the ESG and carbon intensity scores, compared to those of","page_number":212,"box":{"x":62,"y":244,"width":861,"height":12}},{"id":"75b564b8-f8bb-46e9-b926-df9223e3a14e","block_type":"box","text":"the Index, will be made available on request to investors based on the latest 12 month rolling data.","page_number":212,"box":{"x":62,"y":258,"width":728,"height":11}},{"id":"3ca9f397-84d8-41a8-93b2-3c155ba4d98f","block_type":"box","text":"Additional Information","page_number":212,"box":{"x":62,"y":292,"width":177,"height":8}},{"id":"7910c845-f427-445f-b993-fdaf327ec80d","block_type":"box","text":"Investment Manager","page_number":212,"box":{"x":118,"y":318,"width":151,"height":11}},{"id":"efae3733-c2c5-434c-b07e-2980ca6c000d","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":212,"box":{"x":352,"y":318,"width":294,"height":9}},{"id":"bd873fa9-914f-4c51-9301-f302df7b5943","block_type":"box","text":"Type of Units","page_number":212,"box":{"x":116,"y":344,"width":98,"height":11}},{"id":"7566fff2-918c-4997-acac-ea5da2ab6788","block_type":"box","text":"UK Corporate Accumulation Units","page_number":212,"box":{"x":353,"y":344,"width":250,"height":11}},{"id":"0c6041e3-572e-4e4f-a6c5-9a45049174ca","block_type":"box","text":"Insured Pension Accumulation Units","page_number":212,"box":{"x":354,"y":370,"width":267,"height":9}},{"id":"df4bf8c3-baa8-4fb9-9e97-5a62195999df","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":212,"box":{"x":353,"y":396,"width":275,"height":9}},{"id":"28fd8cc4-4526-4805-ac53-94cc4da25645","block_type":"box","text":"Dealing Day","page_number":212,"box":{"x":118,"y":422,"width":89,"height":11}},{"id":"c80813e2-f273-40a5-a4ad-0efddacb81b2","block_type":"box","text":"Each Business Day","page_number":212,"box":{"x":354,"y":422,"width":143,"height":11}},{"id":"64a233cd-601f-457f-8d82-20a61ce4d8fe","block_type":"box","text":"Deal Cut-Off Point","page_number":212,"box":{"x":118,"y":448,"width":134,"height":9}},{"id":"5577cbab-892b-4965-bd24-cdd5c111eaa8","block_type":"box","text":"12.00 noon","page_number":212,"box":{"x":354,"y":449,"width":81,"height":8}},{"id":"19280718-0194-46bd-beda-f28f4aec2ade","block_type":"box","text":"Valuation Point","page_number":212,"box":{"x":117,"y":475,"width":112,"height":8}},{"id":"a127a275-1917-4ec7-b870-6986c1cd1be2","block_type":"box","text":"3.00 pm","page_number":212,"box":{"x":353,"y":475,"width":59,"height":11}},{"id":"36c3f7c5-f848-4608-a1a8-df7a5f77bd28","block_type":"box","text":"*Minimum Investment","page_number":212,"box":{"x":117,"y":501,"width":172,"height":8}},{"id":"f09cf258-539a-4e26-975b-76d0521805b2","block_type":"box","text":"UK Corporate Accumulation","page_number":212,"box":{"x":118,"y":526,"width":205,"height":12}},{"id":"58ede214-7d4f-4a43-b93c-c6e52b08dbda","block_type":"box","text":"Units, Insured Pension","page_number":212,"box":{"x":118,"y":540,"width":166,"height":11}},{"id":"1480c407-ce66-4ffe-854a-bcd30b1042d5","block_type":"box","text":"Accumulation Units","page_number":212,"box":{"x":116,"y":554,"width":143,"height":9}},{"id":"4af8ae97-76f7-4cc4-9775-830a9674bf99","block_type":"box","text":"UK Fund of Fund","page_number":212,"box":{"x":118,"y":574,"width":125,"height":8}},{"id":"75c851aa-7297-40aa-9a42-c702ca3f6f25","block_type":"box","text":"Accumulation Units","page_number":212,"box":{"x":116,"y":587,"width":143,"height":9}},{"id":"b8878537-4bab-4da1-8bee-a2d178b130b4","block_type":"box","text":"No minimum","page_number":212,"box":{"x":353,"y":527,"width":92,"height":8}},{"id":"91e6beee-014f-491b-9eeb-75322a36c8e4","block_type":"box","text":"Minimum withdrawal","page_number":212,"box":{"x":117,"y":614,"width":150,"height":8}},{"id":"24b44e8f-e3c0-4075-a590-c116977e7587","block_type":"box","text":"No minimum","page_number":212,"box":{"x":353,"y":614,"width":92,"height":8}},{"id":"0b61e566-71ec-4fd7-9e3c-808e0a176400","block_type":"box","text":"Tax Criteria for investment","page_number":212,"box":{"x":116,"y":639,"width":213,"height":9}},{"id":"23899fc0-b736-4e99-ac7d-2028df55462d","block_type":"box","text":"UK Corporate Accumulation","page_number":212,"box":{"x":118,"y":665,"width":205,"height":11}},{"id":"75fa8625-0479-492f-87f0-c8a2334a7020","block_type":"box","text":"Units","page_number":212,"box":{"x":118,"y":679,"width":36,"height":9}},{"id":"1b734365-af64-4fde-ac73-31de91d415db","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":212,"box":{"x":352,"y":665,"width":404,"height":12}},{"id":"ca6b555c-4d37-414d-80ac-5604a703d579","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":212,"box":{"x":353,"y":679,"width":404,"height":11}},{"id":"493b6b0f-8f6e-4710-9cc9-7268c0b38e67","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":212,"box":{"x":352,"y":693,"width":405,"height":11}},{"id":"d2bb0950-5a52-4e84-ac81-e6e84b9ebaa6","block_type":"box","text":"linked pension business contracts.","page_number":212,"box":{"x":353,"y":707,"width":253,"height":11}},{"id":"d52a50b7-a217-466c-a62b-6fc27aa23b92","block_type":"box","text":"Insured Pension","page_number":212,"box":{"x":118,"y":733,"width":118,"height":8}},{"id":"69649690-b1f4-43ab-ab86-ae31d9a2533a","block_type":"box","text":"Accumulation Units","page_number":212,"box":{"x":116,"y":747,"width":143,"height":8}},{"id":"492a1b0d-6a5b-4498-a838-f9ef1f0497c3","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":212,"box":{"x":352,"y":733,"width":404,"height":11}},{"id":"00df66e0-4dd3-48e8-9ba7-052e543854fc","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":212,"box":{"x":353,"y":746,"width":404,"height":11}},{"id":"b834944a-aa5b-44de-a16e-68ebd1c212f9","block_type":"box","text":"back exclusively its unit linked pension business","page_number":212,"box":{"x":353,"y":760,"width":404,"height":11}},{"id":"659b8090-f179-4d2d-8dd8-84b1b54ca3c2","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":212,"box":{"x":353,"y":774,"width":404,"height":11}},{"id":"c952daf7-ae22-4104-a24a-38802cb19a2f","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":212,"box":{"x":353,"y":787,"width":307,"height":11}},{"id":"87c35809-b204-452b-9d01-4806d0e2ddbc","block_type":"box","text":"UK Fund of Fund","page_number":212,"box":{"x":118,"y":813,"width":125,"height":9}},{"id":"b60c8cee-f2d6-4bde-981c-51f704969448","block_type":"box","text":"Accumulation Units","page_number":212,"box":{"x":116,"y":827,"width":143,"height":9}},{"id":"f63dae96-245c-4b1b-bed4-329d3e6217f1","block_type":"box","text":"A sub-fund of a UK authorised Open-Ended Investment","page_number":212,"box":{"x":352,"y":813,"width":405,"height":11}},{"id":"d33d8114-9284-48a1-8c56-c885140a5b03","block_type":"box","text":"Company which is part of or otherwise managed by the","page_number":212,"box":{"x":353,"y":827,"width":403,"height":11}},{"id":"7ff28574-cbe3-4c03-b613-d080bb96c66b","block_type":"box","text":"Aviva Group.","page_number":212,"box":{"x":352,"y":841,"width":96,"height":11}},{"id":"a776a8e4-0772-4175-b454-a3adbfe56b63","block_type":"box","text":"**Current Charges:","page_number":212,"box":{"x":117,"y":867,"width":149,"height":11}},{"id":"efac4ced-7d76-49f2-928e-4d540e77b573","block_type":"box","text":"UK Corporate Accumulation","page_number":212,"box":{"x":118,"y":893,"width":205,"height":11}},{"id":"c0d0ead5-985e-40c9-8083-550ad2c33ab5","block_type":"box","text":"Units, Insured Pension","page_number":212,"box":{"x":118,"y":907,"width":166,"height":10}},{"id":"690ef5d4-e125-4ed4-9a29-08647c5dd970","block_type":"box","text":"Accumulation Units","page_number":212,"box":{"x":116,"y":920,"width":143,"height":9}},{"id":"b5175064-7ad2-4c13-9280-8d050a96a871","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":212,"box":{"x":352,"y":893,"width":404,"height":11}},{"id":"19e8aa8d-982b-4219-a30d-bb90dfadfae0","block_type":"box","text":"Unitholder","page_number":212,"box":{"x":353,"y":907,"width":75,"height":9}},{"id":"473550e3-dde2-413b-9a37-b409eeabae56","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":213,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"b1b6f776-4774-4d67-b77e-ec4cc84327b4","block_type":"box","text":"213","page_number":213,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"5ad74364-2ada-416d-bf45-24f6b6b6f6b8","block_type":"box","text":"Aviva Investors: Confidential","page_number":213,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"0d26fb20-10a9-4980-b1b9-baa9707887f3","block_type":"box","text":"UK Fund of Fund","page_number":213,"box":{"x":118,"y":73,"width":125,"height":9}},{"id":"9385efc2-3037-4a66-84bc-a9b549d37df9","block_type":"box","text":"Accumulation Units","page_number":213,"box":{"x":116,"y":86,"width":143,"height":9}},{"id":"9154dad9-0306-49d2-b471-75b6aaac2d9e","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":213,"box":{"x":352,"y":53,"width":404,"height":11}},{"id":"63576ca3-31d2-4768-8061-ee990578148d","block_type":"box","text":"property","page_number":213,"box":{"x":353,"y":67,"width":60,"height":11}},{"id":"4f2af199-fe63-42d7-83e3-1c7be994b666","block_type":"box","text":"ACS management charge: Deducted from Scheme","page_number":213,"box":{"x":352,"y":86,"width":404,"height":11}},{"id":"6be9560c-4dee-442b-83c2-fae884e0949c","block_type":"box","text":"Property of FoF Units.","page_number":213,"box":{"x":354,"y":100,"width":161,"height":11}},{"id":"7ceeec95-c730-4cb9-8e9a-78690bf2c42b","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":213,"box":{"x":352,"y":119,"width":404,"height":12}},{"id":"b8fcc703-3e6f-4a19-9115-8f07cde4f612","block_type":"box","text":"Property.","page_number":213,"box":{"x":354,"y":133,"width":65,"height":11}},{"id":"f2b2b323-7bda-464c-a69c-5e5622b77dd8","block_type":"box","text":"The ACS management charge deducted from Scheme","page_number":213,"box":{"x":352,"y":153,"width":404,"height":11}},{"id":"b676899d-db06-4727-adcf-72cbfa61be88","block_type":"box","text":"Property shall be reduced by an amount equal to the","page_number":213,"box":{"x":354,"y":167,"width":403,"height":11}},{"id":"d43c4f4b-5fed-42f7-956a-e62ed4279c51","block_type":"box","text":"Administration Charge deducted from the Scheme","page_number":213,"box":{"x":352,"y":180,"width":404,"height":11}},{"id":"bf65836f-bae3-470d-911f-55040be051e8","block_type":"box","text":"Property of that Sub-Fund and Unit Class in the","page_number":213,"box":{"x":354,"y":194,"width":402,"height":11}},{"id":"64dde5ff-87c5-4576-b2a5-d66b85ab5b48","block_type":"box","text":"relevant period.","page_number":213,"box":{"x":353,"y":208,"width":113,"height":11}},{"id":"fe42885e-5915-46e6-9808-c84d5596c1d3","block_type":"box","text":"Accounting Dates","page_number":213,"box":{"x":117,"y":234,"width":141,"height":11}},{"id":"8d8c6127-4cf3-4b62-af9f-3410cddf35ff","block_type":"box","text":"Annual Accounting Date","page_number":213,"box":{"x":116,"y":260,"width":180,"height":11}},{"id":"63c355dd-aa82-4446-957b-18b35d5145f9","block_type":"box","text":"31 December","page_number":213,"box":{"x":353,"y":260,"width":100,"height":9}},{"id":"1a09c2f9-2e05-4e3a-b2d1-03d1d42880f2","block_type":"box","text":"First Accounting Date","page_number":213,"box":{"x":118,"y":286,"width":158,"height":11}},{"id":"9206099e-4e75-410a-a228-2a1f43a830f9","block_type":"box","text":"31 December 2023","page_number":213,"box":{"x":353,"y":286,"width":141,"height":9}},{"id":"85286c6c-3788-4d42-949c-38c8c9c3614f","block_type":"box","text":"Annual Income Allocation","page_number":213,"box":{"x":116,"y":312,"width":188,"height":9}},{"id":"a3542642-8890-42a4-9c0c-6f6cb0c63821","block_type":"box","text":"Date","page_number":213,"box":{"x":118,"y":326,"width":33,"height":8}},{"id":"3c2c9139-55fd-4406-8355-0242ecd7f1d3","block_type":"box","text":"On or before 28 /29 February","page_number":213,"box":{"x":353,"y":312,"width":217,"height":11}},{"id":"9b172ec7-50fc-4a18-ae86-b7a6d5f5d834","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":213,"box":{"x":118,"y":352,"width":293,"height":11}},{"id":"986275a7-2ecd-4290-a090-2edae9fc1cdc","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":213,"box":{"x":62,"y":378,"width":861,"height":11}},{"id":"8cf8ce94-b4e7-4c46-a934-c834eff83000","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":213,"box":{"x":62,"y":392,"width":408,"height":11}},{"id":"2f3b99bb-d201-494e-b07b-a197e5ea6c6d","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":213,"box":{"x":62,"y":411,"width":642,"height":11}},{"id":"1b1f4a2f-e91f-4095-b90f-a25efd277226","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":213,"box":{"x":62,"y":431,"width":860,"height":11}},{"id":"c82aafa6-6fb5-46de-a1fb-d144dd79c756","block_type":"box","text":"this Prospectus.","page_number":213,"box":{"x":62,"y":444,"width":117,"height":11}},{"id":"c371f36e-d83b-4c51-8d93-b36adab47c8c","block_type":"box","text":"□","page_number":213,"box":{"x":62,"y":460,"width":5,"height":3}},{"id":"1463ec2a-04f5-4980-81e9-4b956dacab83","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":213,"box":{"x":74,"y":458,"width":342,"height":9}},{"id":"0c70e259-d635-4bcd-9a98-a4519b25bdd5","block_type":"box","text":"□","page_number":213,"box":{"x":62,"y":487,"width":5,"height":3}},{"id":"9cd867c8-4457-41a6-929e-e806e9ab3426","block_type":"box","text":"□","page_number":213,"box":{"x":69,"y":487,"width":5,"height":3}},{"id":"8c17e033-1a96-4901-bd76-333c6cdf71c6","block_type":"box","text":"Our ESG assessments and exclusions are reliant on: (i) data provided by third party data providers; and (ii) AI and","page_number":213,"box":{"x":75,"y":485,"width":847,"height":12}},{"id":"68a01a8d-9a3b-40c0-bad0-671ac89d67bd","block_type":"box","text":"third-party proprietary models. Data from these third-party data providers or used in our ESG models may be","page_number":213,"box":{"x":62,"y":499,"width":861,"height":11}},{"id":"64f775e5-b8d8-4567-9495-75e8062791a2","block_type":"box","text":"incomplete, inaccurate or unavailable. As a result, there is a risk that the Investment Manager may, from time to time,","page_number":213,"box":{"x":62,"y":513,"width":860,"height":11}},{"id":"a3968733-43b8-443f-b8c7-594f775adc45","block_type":"box","text":"incorrectly assess an asset. There is also a risk that the Investment Manager, or the third-party data providers on","page_number":213,"box":{"x":62,"y":526,"width":860,"height":12}},{"id":"d7b283c8-c080-42fe-a525-0c0093bac29f","block_type":"box","text":"which we may depend, may not interpret or apply the relevant ESG characteristics correctly. Our proprietary ESG tool","page_number":213,"box":{"x":62,"y":540,"width":860,"height":11}},{"id":"634f55dd-e3be-4b86-9f55-3b65b44b06d3","block_type":"box","text":"emphasises the ESG factors which we determine are most closely correlated to potential financial outperformance.","page_number":213,"box":{"x":62,"y":554,"width":860,"height":11}},{"id":"66a0528d-5d6c-4dba-ae71-83cbfde7108f","block_type":"box","text":"Accordingly, it should not be used as a comprehensive measure of the sustainability risks (or the overall ESG","page_number":213,"box":{"x":62,"y":567,"width":860,"height":12}},{"id":"c3b3face-e33d-4842-be99-a64258087f11","block_type":"box","text":"quality/credentials) of a Sub-Fund.","page_number":213,"box":{"x":62,"y":581,"width":254,"height":11}},{"id":"6ebd5b4b-374c-4c80-9258-5f4bc953d4fe","block_type":"box","text":"Securities Financing and other Transactions:","page_number":213,"box":{"x":62,"y":606,"width":358,"height":12}},{"id":"ca951ada-0dd1-4c8b-8341-d5657cb2727c","block_type":"box","text":"The types of assets which may be subject to TRS are limited to Equity Securities.","page_number":213,"box":{"x":62,"y":626,"width":601,"height":11}},{"id":"b3710e5e-217a-4bc2-a8da-8d5dbd0301c4","block_type":"box","text":"The assets which may be subject to securities lending or repo transactions will be limited to Equity Securities.","page_number":213,"box":{"x":62,"y":665,"width":809,"height":11}},{"id":"d2c954de-8411-4884-8c88-9f957313ec0f","block_type":"box","text":"Given that the Sub-Fund’s assets cannot be described as being ‘subject to’ TRS, the maximum and expected","page_number":213,"box":{"x":62,"y":704,"width":860,"height":12}},{"id":"5350b240-b1d6-4943-b937-7adb82c0ec22","block_type":"box","text":"percentages of TRS are given as the gross aggregate notional of TRS as a percentage of the NAV.","page_number":213,"box":{"x":62,"y":718,"width":734,"height":11}},{"id":"963b65f2-a383-4f8b-b1da-276d7ead4dae","block_type":"box","text":"The maximum proportion of the assets of the Fund which may be subject to TRS, securities lending or repo","page_number":213,"box":{"x":62,"y":759,"width":794,"height":12}},{"id":"5cac055b-3fdd-4c02-b0fe-2522c19989a0","block_type":"box","text":"transactions is as follows:","page_number":213,"box":{"x":62,"y":775,"width":188,"height":9}},{"id":"c761614c-0f76-4120-a3e3-c92b4a0cd3b4","block_type":"box","text":"Total Return Swaps","page_number":213,"box":{"x":71,"y":811,"width":133,"height":11}},{"id":"6ce13e20-9a78-4111-ad83-5d29e698c1c9","block_type":"box","text":"10%","page_number":213,"box":{"x":461,"y":812,"width":27,"height":8}},{"id":"402f2f1b-897d-458e-b0c1-bf6720674f87","block_type":"box","text":"Securities Lending","page_number":213,"box":{"x":72,"y":834,"width":125,"height":10}},{"id":"899c981f-ef11-42e5-8a5a-e847154ccd2c","block_type":"box","text":"50%","page_number":213,"box":{"x":460,"y":834,"width":28,"height":8}},{"id":"24c941d2-7ab4-4f88-b37d-16223242e820","block_type":"box","text":"Repo Transactions","page_number":213,"box":{"x":71,"y":856,"width":125,"height":10}},{"id":"0916fbfc-c302-4b55-a97f-3354990e60c4","block_type":"box","text":"50%","page_number":213,"box":{"x":460,"y":855,"width":32,"height":9}},{"id":"42915179-1430-41c1-ab23-f84150f103ae","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":214,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"6f130e8a-0f32-4cb6-995a-b4066004f6ab","block_type":"box","text":"214","page_number":214,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"4fdaffb8-8c40-4721-9e03-5ee0068e436a","block_type":"box","text":"Aviva Investors: Confidential","page_number":214,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"366ccee1-7f23-4953-a5dd-b573712649b6","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":214,"box":{"x":62,"y":53,"width":823,"height":11}},{"id":"3f1eef73-6d7c-4aa6-8c2b-0d7dd808fe1b","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to TRS, securities lending or","page_number":214,"box":{"x":62,"y":68,"width":828,"height":11}},{"id":"1356f9da-3b8e-4f38-87a5-c5a0ade8c09b","block_type":"box","text":"repo transactions is as follows:","page_number":214,"box":{"x":63,"y":84,"width":226,"height":11}},{"id":"524e6925-d1e9-47f9-8b07-fda4a1782d9c","block_type":"box","text":"Total Return Swaps","page_number":214,"box":{"x":71,"y":120,"width":133,"height":11}},{"id":"ca6c5a18-9b54-4943-95df-05b3522d123f","block_type":"box","text":"0%","page_number":214,"box":{"x":460,"y":120,"width":20,"height":9}},{"id":"01f131bf-9594-4f8f-80ad-a0fb69ae6f29","block_type":"box","text":"Securities Lending","page_number":214,"box":{"x":72,"y":142,"width":125,"height":11}},{"id":"c5487e37-2840-4071-a3b2-c3e274de8711","block_type":"box","text":"25%","page_number":214,"box":{"x":460,"y":142,"width":28,"height":9}},{"id":"610e21af-128d-442a-90a0-4cecc41406d2","block_type":"box","text":"Repo Transactions","page_number":214,"box":{"x":71,"y":164,"width":125,"height":11}},{"id":"15d2d2de-3074-4e38-a200-2c56b4d0a0d9","block_type":"box","text":"1","page_number":214,"box":{"x":461,"y":164,"width":5,"height":8}},{"id":"6f88d30b-dfe2-4150-9782-db1bcfa775fb","block_type":"box","text":"2","page_number":214,"box":{"x":468,"y":164,"width":8,"height":8}},{"id":"9c3b7456-31c2-4bd5-92b7-04efe52f6aed","block_type":"box","text":".","page_number":214,"box":{"x":477,"y":171,"width":2,"height":1}},{"id":"ffc7a108-fe23-4395-a065-0b8faa343ba7","block_type":"box","text":"5%","page_number":214,"box":{"x":481,"y":164,"width":20,"height":9}},{"id":"13c177ed-0430-4ea0-ac38-78a1f45f8cbd","block_type":"box","text":"The expected proportion of AUM subject to TRS, securities lending or repo transactions is indicative only and,","page_number":214,"box":{"x":62,"y":206,"width":812,"height":11}},{"id":"d59fe4d5-8a9f-40cc-bbc3-354feca9e3b6","block_type":"box","text":"depending on market conditions and the strategies employed, the actual exposure may be outside of that range at","page_number":214,"box":{"x":62,"y":221,"width":845,"height":12}},{"id":"a934584f-6c16-4938-9d82-f607bd7e832a","block_type":"box","text":"any given point in time. There may be times when there the proportion of AUM subject to TRS, securities lending or","page_number":214,"box":{"x":62,"y":237,"width":854,"height":11}},{"id":"ed458791-14d2-4517-b951-0bd7420f47c7","block_type":"box","text":"repo transactions is zero.","page_number":214,"box":{"x":63,"y":253,"width":184,"height":11}},{"id":"447a055f-7e35-4e08-8392-3bdc3ab05d39","block_type":"box","text":"Leverage","page_number":214,"box":{"x":63,"y":300,"width":72,"height":11}},{"id":"8822c43b-2006-494d-a7dd-177b7cb1a89f","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":214,"box":{"x":63,"y":320,"width":860,"height":11}},{"id":"6697c783-029f-45e0-a71e-47f198abf6e4","block_type":"box","text":"management.","page_number":214,"box":{"x":62,"y":334,"width":101,"height":10}},{"id":"9f8dbe15-16d2-422c-95e2-e11f6f11e61d","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":214,"box":{"x":62,"y":366,"width":860,"height":12}},{"id":"a1c37f54-673e-47ce-8a39-461225078109","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":214,"box":{"x":62,"y":380,"width":649,"height":11}},{"id":"d327f3e3-d96a-4d75-90ca-7766b0fbf9b0","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":214,"box":{"x":62,"y":407,"width":755,"height":12}},{"id":"1d04167b-a878-41dd-bd8e-a89790b1d399","block_type":"box","text":"Permitted derivatives","page_number":214,"box":{"x":72,"y":437,"width":168,"height":9}},{"id":"dfc1d738-67a3-4e72-a267-4c1de45e5b39","block_type":"box","text":"Permitted?","page_number":214,"box":{"x":383,"y":437,"width":85,"height":9}},{"id":"f7912acf-6448-4a1d-b993-1c2671b0d8e0","block_type":"box","text":"Prohibited?","page_number":214,"box":{"x":489,"y":437,"width":91,"height":9}},{"id":"ab72a405-e58a-4415-bd7a-61af03941fe6","block_type":"box","text":"Equity index futures","page_number":214,"box":{"x":72,"y":458,"width":146,"height":11}},{"id":"c1b45ab2-f6db-4bdc-a3cb-fd0a6f436804","block_type":"box","text":"√","page_number":214,"box":{"x":421,"y":458,"width":8,"height":8}},{"id":"81a331af-d21d-4101-b8fd-f1f7b0e32c31","block_type":"box","text":"Government bond futures","page_number":214,"box":{"x":72,"y":476,"width":188,"height":9}},{"id":"7282ffdf-0130-4508-a133-a12c8ce2e619","block_type":"box","text":"√","page_number":214,"box":{"x":530,"y":477,"width":8,"height":7}},{"id":"62aacb4d-a99e-4ecc-bfe3-b61cab75e3f6","block_type":"box","text":"Equity index options","page_number":214,"box":{"x":72,"y":495,"width":148,"height":11}},{"id":"553aafd4-7122-4f0f-9612-3fd45b720b71","block_type":"box","text":"√","page_number":214,"box":{"x":530,"y":495,"width":8,"height":8}},{"id":"bf87fb92-cbbc-40cd-bd49-3c9ca27ab4c5","block_type":"box","text":"Forward foreign exchange","page_number":214,"box":{"x":72,"y":513,"width":193,"height":11}},{"id":"8e18f2d9-9028-47d4-ace2-c51ff433739c","block_type":"box","text":"√","page_number":214,"box":{"x":421,"y":513,"width":8,"height":8}},{"id":"ac6946c7-f302-4485-a2b7-8fa0bf855cd8","block_type":"box","text":"Index credit default swaps","page_number":214,"box":{"x":72,"y":531,"width":192,"height":12}},{"id":"c86ccfdd-cc1c-41dc-b832-fed15dccaec4","block_type":"box","text":"√","page_number":214,"box":{"x":530,"y":532,"width":8,"height":8}},{"id":"a6236802-69eb-432c-a79c-dc86246a4459","block_type":"box","text":"Interest rate swaps","page_number":214,"box":{"x":72,"y":550,"width":140,"height":11}},{"id":"619a7a2d-376d-443a-be90-8a5f977cd850","block_type":"box","text":"√","page_number":214,"box":{"x":530,"y":550,"width":8,"height":8}},{"id":"1ed6f736-cab3-412b-8b1f-c28417a78c11","block_type":"box","text":"OTC equity options","page_number":214,"box":{"x":72,"y":568,"width":142,"height":11}},{"id":"7203c91d-8852-4349-afe6-ad377e619ffa","block_type":"box","text":"√","page_number":214,"box":{"x":530,"y":569,"width":8,"height":7}},{"id":"a219907b-50e6-48bf-86bc-73146fff1022","block_type":"box","text":"Inflation swaps","page_number":214,"box":{"x":72,"y":587,"width":109,"height":11}},{"id":"6a0ee564-d6a0-482f-ba0c-d01150856aa2","block_type":"box","text":"√","page_number":214,"box":{"x":530,"y":587,"width":8,"height":8}},{"id":"f84c24cf-e455-4d26-9e28-f2c54cebd231","block_type":"box","text":"Cross currency swaps","page_number":214,"box":{"x":72,"y":605,"width":163,"height":11}},{"id":"42509cf1-b8e6-4db3-bd2c-da12d36c93bf","block_type":"box","text":"√","page_number":214,"box":{"x":530,"y":606,"width":8,"height":7}},{"id":"4246c6f7-f178-4561-b136-f3047875cd28","block_type":"box","text":"Equity TRS -single name","page_number":214,"box":{"x":72,"y":621,"width":184,"height":12}},{"id":"29860236-0c50-4ddc-800f-28ad064d041b","block_type":"box","text":"√","page_number":214,"box":{"x":421,"y":624,"width":8,"height":8}},{"id":"867dbe88-5a59-4075-9c36-52d3d42e59a4","block_type":"box","text":"Equity TRS - index","page_number":214,"box":{"x":72,"y":640,"width":138,"height":11}},{"id":"0d63f451-0269-448e-bb96-778905e59ec7","block_type":"box","text":"√","page_number":214,"box":{"x":421,"y":642,"width":8,"height":8}},{"id":"6db23047-a73f-402e-b576-2f14daeef3b8","block_type":"box","text":"Other","page_number":214,"box":{"x":72,"y":660,"width":41,"height":9}},{"id":"603fad1d-f891-4bfe-8f5f-c361dc5c1163","block_type":"box","text":"√","page_number":214,"box":{"x":530,"y":661,"width":8,"height":7}},{"id":"76345954-fc0d-4fe5-a2ce-ba1ae4ddfa93","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":214,"box":{"x":63,"y":702,"width":860,"height":11}},{"id":"beb710db-0af9-4bc0-920c-d7ef33b3eda2","block_type":"box","text":"2)","page_number":214,"box":{"x":62,"y":716,"width":13,"height":11}},{"id":"02c88c77-fb88-48a9-adf6-6e141c882a97","block_type":"box","text":"Leverage Limits","page_number":214,"box":{"x":63,"y":743,"width":128,"height":11}},{"id":"6fb66f91-67f4-4b7f-aec4-cfcd50ca2a85","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":214,"box":{"x":200,"y":743,"width":722,"height":11}},{"id":"bf310a7b-a1dc-4bb5-bc8b-7ff95b7eb57d","block_type":"box","text":"Regime):","page_number":214,"box":{"x":63,"y":756,"width":65,"height":12}},{"id":"f339548c-e46c-43cb-a1eb-6f99e185f11c","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":214,"box":{"x":62,"y":784,"width":471,"height":11}},{"id":"b493c4d1-6952-4b6b-a059-74493b9e98a8","block_type":"box","text":"","page_number":214,"box":{"x":62,"y":815,"width":6,"height":4}},{"id":"46aa4cf9-1d69-45b7-b070-418d885bd324","block_type":"box","text":"Gross Method: Up to 1.1:1","page_number":214,"box":{"x":92,"y":812,"width":193,"height":11}},{"id":"790907a1-b85b-4bd2-b097-ff416e75b0a7","block_type":"box","text":"","page_number":214,"box":{"x":62,"y":832,"width":6,"height":4}},{"id":"089df11f-be18-4abc-8fdb-3dfca90d7b35","block_type":"box","text":"Commitment: Up to 1.1:1","page_number":214,"box":{"x":92,"y":828,"width":183,"height":12}},{"id":"391c1ac6-ca51-45a3-a1e3-f1a6b4f75d82","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":214,"box":{"x":62,"y":856,"width":860,"height":11}},{"id":"e417b715-8f5c-4485-b63f-82b9dfcbd3ad","block_type":"box","text":"which case leverage will not exceed the following:","page_number":214,"box":{"x":62,"y":870,"width":368,"height":11}},{"id":"a8946f6e-8ed3-4e6c-86fb-163a09ffed32","block_type":"box","text":"","page_number":214,"box":{"x":62,"y":901,"width":6,"height":4}},{"id":"9538b3f1-3904-4eed-afa7-b3615fc341d4","block_type":"box","text":"Gross Method: Up to 2:1","page_number":214,"box":{"x":92,"y":898,"width":179,"height":11}},{"id":"dba8ee88-c0bb-4c8f-9720-387c61cd1f2d","block_type":"box","text":"","page_number":214,"box":{"x":62,"y":918,"width":6,"height":4}},{"id":"48ab5614-b2c3-45f8-a757-bfc06b74167f","block_type":"box","text":"Commitment: Up to 1.5:1","page_number":214,"box":{"x":92,"y":914,"width":183,"height":11}},{"id":"baa910aa-85c9-45d2-bd82-b16470ec1a56","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":215,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"3f403280-df6d-4b65-b089-fdbea4820055","block_type":"box","text":"215","page_number":215,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"3e9b8f68-7258-4961-b1cf-015f4f996a03","block_type":"box","text":"Aviva Investors: Confidential","page_number":215,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"ff226e68-3b41-4af7-8282-43333c2a4120","block_type":"box","text":"Specific Risks","page_number":215,"box":{"x":62,"y":72,"width":113,"height":11}},{"id":"2fabdbc8-ea31-49e1-a586-bc38add07e30","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":215,"box":{"x":181,"y":72,"width":462,"height":11}},{"id":"f641971e-4622-4b9a-8601-382fb253a0c0","block_type":"box","text":"","page_number":215,"box":{"x":62,"y":109,"width":6,"height":5}},{"id":"b5752e6e-ebcc-4b80-987b-40aba6c2a291","block_type":"box","text":"Single Market","page_number":215,"box":{"x":92,"y":106,"width":102,"height":11}},{"id":"09b0caa5-3191-4e51-bc87-86c2b859c937","block_type":"box","text":"","page_number":215,"box":{"x":62,"y":124,"width":6,"height":4}},{"id":"fb6e11a6-57c9-40b9-a6b6-25dfbd656630","block_type":"box","text":"Equity Securities","page_number":215,"box":{"x":93,"y":121,"width":123,"height":11}},{"id":"0410f2d0-bb2b-4e8a-bb68-31aa0ec55427","block_type":"box","text":"","page_number":215,"box":{"x":62,"y":138,"width":6,"height":5}},{"id":"71551d9d-c1af-4900-86ed-952a3d56d6d9","block_type":"box","text":"Benchmark Indices","page_number":215,"box":{"x":93,"y":135,"width":140,"height":9}},{"id":"2b614d0b-8d9b-4d0c-b505-4439762a81bc","block_type":"box","text":"","page_number":215,"box":{"x":62,"y":153,"width":6,"height":4}},{"id":"38eb1926-cd38-4197-ba88-dc3e9e99261d","block_type":"box","text":"Index-Related Risk","page_number":215,"box":{"x":93,"y":150,"width":140,"height":8}},{"id":"25f43b69-7c02-484a-bcb9-00007087f30c","block_type":"box","text":"","page_number":215,"box":{"x":62,"y":167,"width":6,"height":4}},{"id":"3a29ec06-8a6e-4885-a17b-f40a127efac9","block_type":"box","text":"Tracking Error","page_number":215,"box":{"x":92,"y":164,"width":106,"height":11}},{"id":"8e7feef7-f6dd-4c82-942c-4ec871024fc9","block_type":"box","text":"","page_number":215,"box":{"x":62,"y":182,"width":6,"height":4}},{"id":"1fe57305-aa5c-42d9-a9de-f1e9afc5bbe6","block_type":"box","text":"Stock Connect Risk","page_number":215,"box":{"x":92,"y":178,"width":146,"height":9}},{"id":"1e70501c-5dab-4079-95d3-01f7addd9313","block_type":"box","text":"Past Performance – Aviva Investors Pacific Equity ex Japan Core Fund","page_number":215,"box":{"x":72,"y":224,"width":563,"height":11}},{"id":"4feb3549-f20d-446f-957e-655753a75065","block_type":"box","text":"% Growth","page_number":215,"box":{"x":71,"y":244,"width":77,"height":9}},{"id":"6903be9a-b723-4286-9ccd-73e1daade5e4","block_type":"box","text":"1/1/2024 to","page_number":215,"box":{"x":290,"y":270,"width":94,"height":8}},{"id":"eee31a86-e059-402a-bdd4-7cb6275f81b4","block_type":"box","text":"31/12/2024","page_number":215,"box":{"x":289,"y":282,"width":75,"height":8}},{"id":"69673bff-4cf6-4fbf-9f67-32c43b3b6a2e","block_type":"box","text":"1/1/2023 to","page_number":215,"box":{"x":404,"y":270,"width":94,"height":8}},{"id":"4dd74026-b058-427e-b00c-da4b261ab3f3","block_type":"box","text":"31/12/2023","page_number":215,"box":{"x":403,"y":282,"width":75,"height":8}},{"id":"5a18a60c-860c-4bf2-8dee-39e1a4357cac","block_type":"box","text":"1/1/2022 to","page_number":215,"box":{"x":517,"y":270,"width":94,"height":8}},{"id":"6cb7031e-0925-44bd-a2f6-f4cf62fa75fe","block_type":"box","text":"31/12/2022","page_number":215,"box":{"x":516,"y":282,"width":75,"height":8}},{"id":"4d74951d-b98e-414f-bd30-6dc81e9867eb","block_type":"box","text":"1/1/2021 to","page_number":215,"box":{"x":631,"y":270,"width":94,"height":8}},{"id":"b91a3c04-7f7d-4884-908a-78b4f8d314a8","block_type":"box","text":"31/12/2021","page_number":215,"box":{"x":630,"y":282,"width":73,"height":8}},{"id":"3c798211-ee50-4cb7-8f89-e8c00decbf10","block_type":"box","text":"1/1/2020 to","page_number":215,"box":{"x":744,"y":270,"width":94,"height":8}},{"id":"41146e92-4a05-4c8a-8f7a-316be2ce5d3e","block_type":"box","text":"31/12/2020","page_number":215,"box":{"x":743,"y":282,"width":75,"height":8}},{"id":"e85a7b14-951e-4d6e-8a57-218173a47e32","block_type":"box","text":"UK Corporate Income","page_number":215,"box":{"x":72,"y":307,"width":198,"height":10}},{"id":"2cfad6ab-43f2-4eed-ab47-e1f8bc479b1d","block_type":"box","text":"Distribution Units (%)","page_number":215,"box":{"x":72,"y":319,"width":140,"height":10}},{"id":"05ef994c-64ac-4d43-92ce-460fa82a4d81","block_type":"box","text":"Insured Pension Income","page_number":215,"box":{"x":72,"y":344,"width":198,"height":8}},{"id":"76b21aad-0d29-49df-a65e-942f5e617346","block_type":"box","text":"Distribution Units (%)","page_number":215,"box":{"x":72,"y":356,"width":140,"height":10}},{"id":"112ef797-3e40-4f17-b04b-a629e22925e9","block_type":"box","text":"UK Institutional Accumulation","page_number":215,"box":{"x":72,"y":381,"width":198,"height":8}},{"id":"561bbfc0-9568-422c-919b-b52d34457a86","block_type":"box","text":"Units (%)","page_number":215,"box":{"x":72,"y":393,"width":60,"height":10}},{"id":"f25f0ade-afba-421e-902f-c958e1dc0968","block_type":"box","text":"ACS (Fund of Fund)","page_number":215,"box":{"x":71,"y":418,"width":199,"height":10}},{"id":"77789b53-6d45-47da-8f02-7923c690d5e0","block_type":"box","text":"Accumulation Units Class 1","page_number":215,"box":{"x":71,"y":430,"width":197,"height":8}},{"id":"8f5cda27-9daf-4386-ab1c-fd4bf77f6abd","block_type":"box","text":"(%)","page_number":215,"box":{"x":72,"y":442,"width":21,"height":10}},{"id":"904268fa-d9d5-4d9f-bfa7-48c71ab6a022","block_type":"box","text":"ACS (Fund of Fund)","page_number":215,"box":{"x":71,"y":467,"width":199,"height":10}},{"id":"652df741-d8a3-4896-8d76-1312b09b1a65","block_type":"box","text":"Accumulation Units Class 2","page_number":215,"box":{"x":71,"y":479,"width":199,"height":8}},{"id":"487666bc-9b2f-4152-ae7e-8962cb0f369e","block_type":"box","text":"(%)","page_number":215,"box":{"x":72,"y":492,"width":21,"height":10}},{"id":"380e1a5a-5340-489a-a4b3-8f0d7daae543","block_type":"box","text":"UK Corporate Accumulation","page_number":215,"box":{"x":72,"y":516,"width":198,"height":10}},{"id":"9f194b49-6d75-449f-a19d-2538d27b6442","block_type":"box","text":"Units (%)","page_number":215,"box":{"x":72,"y":529,"width":60,"height":10}},{"id":"6b605a9a-1e29-4924-8d45-d3487873b288","block_type":"box","text":"5.69","page_number":215,"box":{"x":289,"y":517,"width":29,"height":8}},{"id":"6060ba18-e128-487e-800c-3b8aaf67ee6f","block_type":"box","text":"-0.57","page_number":215,"box":{"x":403,"y":517,"width":34,"height":8}},{"id":"5b51c50f-ab45-451a-b045-63cb6a999886","block_type":"box","text":"N/A","page_number":215,"box":{"x":517,"y":517,"width":24,"height":8}},{"id":"9b9ee160-a268-40f0-b0cf-51da1cb01fc7","block_type":"box","text":"N/A","page_number":215,"box":{"x":631,"y":517,"width":24,"height":8}},{"id":"6bfbeb15-edb1-4b5a-b5f7-9344583da2db","block_type":"box","text":"N/A","page_number":215,"box":{"x":744,"y":517,"width":24,"height":8}},{"id":"fa2da39e-82ab-4b71-99df-d2f81caf2222","block_type":"box","text":"Insured Pension","page_number":215,"box":{"x":72,"y":560,"width":198,"height":7}},{"id":"65241991-7861-465a-a5b5-dd89233ca786","block_type":"box","text":"Accumulation Units (%)","page_number":215,"box":{"x":71,"y":572,"width":156,"height":10}},{"id":"6e930a7e-7db5-4550-a7d0-069a7b576417","block_type":"box","text":"5.69","page_number":215,"box":{"x":289,"y":560,"width":29,"height":7}},{"id":"c56e3b6b-642c-44bb-9203-d874afe250d2","block_type":"box","text":"-0.67","page_number":215,"box":{"x":403,"y":560,"width":34,"height":7}},{"id":"1af508c9-c4e7-4242-93f1-ab06f7a948c2","block_type":"box","text":"N/A","page_number":215,"box":{"x":517,"y":559,"width":24,"height":8}},{"id":"c325f749-d039-40ba-91b9-9ae3fe6797a4","block_type":"box","text":"N/A","page_number":215,"box":{"x":631,"y":559,"width":24,"height":8}},{"id":"0a756b55-b010-4896-9786-f06345534ed3","block_type":"box","text":"N/A","page_number":215,"box":{"x":744,"y":559,"width":24,"height":8}},{"id":"88b014e7-f870-4fee-ae6e-cea81272c9b8","block_type":"box","text":"UK Fund of Fund","page_number":215,"box":{"x":72,"y":603,"width":198,"height":8}},{"id":"4dac7e79-14b9-4750-a7b4-29fd5c4f30b4","block_type":"box","text":"Accumulation Units (%)","page_number":215,"box":{"x":71,"y":615,"width":156,"height":10}},{"id":"d9706ada-112a-442b-bca3-21f368c97633","block_type":"box","text":"5.50","page_number":215,"box":{"x":289,"y":603,"width":29,"height":8}},{"id":"61bba8b9-6145-4f86-94b3-bf70d21f1623","block_type":"box","text":"-0.57","page_number":215,"box":{"x":403,"y":603,"width":34,"height":8}},{"id":"da2feec4-8f25-41cb-b3ba-66dd8a7890d1","block_type":"box","text":"N/A","page_number":215,"box":{"x":517,"y":602,"width":24,"height":9}},{"id":"04fb3833-81ec-4c43-925d-4969851bc2c5","block_type":"box","text":"N/A","page_number":215,"box":{"x":631,"y":602,"width":24,"height":9}},{"id":"28496bbc-f387-4a69-8cff-fb429a1d247c","block_type":"box","text":"N/A","page_number":215,"box":{"x":744,"y":602,"width":24,"height":9}},{"id":"06c8e7da-9b30-4d1b-8018-fb73df80fb82","block_type":"box","text":"MSCI® Pacific ex Japan","page_number":215,"box":{"x":72,"y":648,"width":199,"height":10}},{"id":"edd7aa6e-aaad-4567-bd44-575d4740cc1b","block_type":"box","text":"Index (GBP)","page_number":215,"box":{"x":72,"y":661,"width":82,"height":10}},{"id":"4b834267-41f3-4427-aca8-f61a4b28774b","block_type":"box","text":"6.46","page_number":215,"box":{"x":290,"y":649,"width":29,"height":7}},{"id":"a15ae129-0a2f-4553-8312-39819f947baa","block_type":"box","text":"0.44","page_number":215,"box":{"x":404,"y":649,"width":29,"height":7}},{"id":"9cf42474-179c-4d6f-a244-d0ad5582281d","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":216,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"202be6d0-740a-488d-bcdc-0f3a0ce51426","block_type":"box","text":"216","page_number":216,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"81abca2f-9eca-4fbc-bfea-122fcdb18ed1","block_type":"box","text":"Aviva Investors: Confidential","page_number":216,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"ae08e165-776f-43da-b492-1da8e25f0602","block_type":"box","text":"Aviva Investors North American Equity Core Fund","page_number":216,"box":{"x":62,"y":53,"width":398,"height":11}},{"id":"0f872601-a083-44ac-9f06-1a3ca429ea47","block_type":"box","text":"FCA product reference number: 985194","page_number":216,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"375b0bd0-6d11-461b-a88a-7c4b86e2efe2","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":216,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"8d169175-877c-4d81-86ac-9f54eddd2e9e","block_type":"box","text":"was authorised by the FCA on 12 October 2022.","page_number":216,"box":{"x":62,"y":125,"width":357,"height":11}},{"id":"1caa2097-4a09-42ce-805d-e2d975732ae2","block_type":"box","text":"Investment Objective and Policy","page_number":216,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"69e54366-6f99-41a7-aafa-80903966bb48","block_type":"box","text":"The Sub-Fund aims to deliver returns which are similar to the returns of the MSCI® North America Index (GBP) (the","page_number":216,"box":{"x":62,"y":184,"width":861,"height":11}},{"id":"ab22f53b-d5ea-4f7e-9ec3-ce77319581e9","block_type":"box","text":"“","page_number":216,"box":{"x":62,"y":197,"width":5,"height":3}},{"id":"83d574ed-459e-466c-a55b-ca9718fbea50","block_type":"box","text":"Index","page_number":216,"box":{"x":68,"y":198,"width":43,"height":8}},{"id":"35caa2cc-0dbb-48b8-837c-f0da69b109f0","block_type":"box","text":"”) over a rolling 12 month period (before charges and taxes) whilst investing in accordance with the investment","page_number":216,"box":{"x":111,"y":197,"width":812,"height":12}},{"id":"cd45b20a-76fd-4450-98c4-759fb926c698","block_type":"box","text":"strategy of the Sub-Fund.","page_number":216,"box":{"x":62,"y":211,"width":187,"height":11}},{"id":"8524cc51-ec65-422d-bc93-1fadc991a436","block_type":"box","text":"Core investment:","page_number":216,"box":{"x":62,"y":250,"width":135,"height":9}},{"id":"1ee976f3-6149-4e16-aed5-427b9aa0e1e8","block_type":"box","text":"The Sub-Fund will invest to form a portfolio representative of the core regional market, as represented by the Index.","page_number":216,"box":{"x":62,"y":270,"width":860,"height":11}},{"id":"58082a6c-a5b6-43bd-a3b8-8e02824c5364","block_type":"box","text":"It will therefore invest a minimum of 80% in shares of companies that make up the Index.","page_number":216,"box":{"x":63,"y":283,"width":656,"height":12}},{"id":"4b9f6496-5ee9-4b1d-aae7-22acb955c62d","block_type":"box","text":"Other investments:","page_number":216,"box":{"x":62,"y":323,"width":151,"height":8}},{"id":"e262083a-c706-4888-bb22-008f521bc713","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies),","page_number":216,"box":{"x":62,"y":342,"width":860,"height":12}},{"id":"e2a28fa8-e1ca-4886-8377-db901ff36f2d","block_type":"box","text":"money market instruments, cash and deposits. Derivatives and forward transaction may be used from time to time to","page_number":216,"box":{"x":62,"y":356,"width":861,"height":11}},{"id":"acc27359-3d8c-481a-94d6-247b549271d5","block_type":"box","text":"gain a particular market exposure which would otherwise be difficult or costly to achieve, to manage the Sub-Fund’s","page_number":216,"box":{"x":62,"y":369,"width":861,"height":12}},{"id":"a3d7949d-bd9c-4055-b64d-1dae151ff85f","block_type":"box","text":"cash flows in a cost-effective manner, or to reduce foreign currency risk within the Sub-Fund.","page_number":216,"box":{"x":62,"y":383,"width":687,"height":11}},{"id":"77c543f4-6368-47d6-a09f-6c3d6fbabb14","block_type":"box","text":"Investment Strategy and ESG Overlay","page_number":216,"box":{"x":62,"y":422,"width":301,"height":12}},{"id":"0b3b1b88-a62e-49a6-89b2-bb3ac717413a","block_type":"box","text":"□","page_number":216,"box":{"x":368,"y":424,"width":5,"height":3}},{"id":"04579cfd-c449-472b-baab-725c420c01bd","block_type":"box","text":"□","page_number":216,"box":{"x":375,"y":424,"width":5,"height":3}},{"id":"5d0ac6c9-dbcb-4210-9b59-02121bf48473","block_type":"box","text":":","page_number":216,"box":{"x":382,"y":425,"width":2,"height":6}},{"id":"0ea69672-f71e-4312-879d-887cb6ffe7b4","block_type":"box","text":"The Fund does not have any sustainability-related investment objectives. However, when selecting companies, the","page_number":216,"box":{"x":62,"y":442,"width":861,"height":11}},{"id":"e9e6a5cc-82a4-4467-a26f-53d9d5902937","block_type":"box","text":"Investment Manager uses a passive sampling approach together with the Aviva Investors’ baseline exclusion policy","page_number":216,"box":{"x":63,"y":456,"width":860,"height":11}},{"id":"395be300-1745-4718-a257-c4797cd003ac","block_type":"box","text":"and an active ESG Overlay (as described below). The Fund’s strategy is designed to deliver, on average over a 12","page_number":216,"box":{"x":62,"y":469,"width":860,"height":12}},{"id":"3156f0f9-dd0f-4297-9539-0e48f5abcf11","block_type":"box","text":"month rolling period, to achieve a higher ESG score and a lower carbon intensity score than the Index (measured","page_number":216,"box":{"x":62,"y":483,"width":861,"height":11}},{"id":"7b13748b-9244-4c03-8a83-ba8c463cb660","block_type":"box","text":"using month end data), whilst also seeking to minimise the Fund’s tracking error to that Index. This means that the","page_number":216,"box":{"x":63,"y":497,"width":860,"height":11}},{"id":"99142307-0863-4269-830e-4f516a04e696","block_type":"box","text":"portfolio is created by first removing the excluded companies from the Index universe, then either overweighting,","page_number":216,"box":{"x":62,"y":510,"width":860,"height":12}},{"id":"bffea5fe-b090-44b5-885a-ed74a9639ee3","block_type":"box","text":"underweighting or excluding holdings relative to the Index based on both their ESG scores and carbon intensity scores","page_number":216,"box":{"x":63,"y":524,"width":860,"height":11}},{"id":"a5de5827-a3b1-4ccb-83fa-5382002c701d","block_type":"box","text":"(the ESG Overlay) and potential to deliver returns similar to the Index. Individual holdings do not need to achieve a","page_number":216,"box":{"x":63,"y":537,"width":860,"height":12}},{"id":"32d85734-990a-4b48-b75b-6e568b81cef7","block_type":"box","text":"specific or minimum ESG score or maximum carbon intensity score to be selected for investment, and therefore the","page_number":216,"box":{"x":62,"y":551,"width":861,"height":11}},{"id":"b77789b4-e0d5-4b68-ae69-0016d886185e","block_type":"box","text":"Sub-Fund will hold companies that could be considered to have low ESG scores or high carbon intensity scores.","page_number":216,"box":{"x":62,"y":565,"width":831,"height":11}},{"id":"bf99b1ec-ef94-4a96-ad9d-049cd7de7fca","block_type":"box","text":"The Investment Manager will also seek to minimise the Sub-Fund’s tracking error to the Index. However, the ESG","page_number":216,"box":{"x":62,"y":598,"width":860,"height":11}},{"id":"6d2550ad-348c-4776-866e-130d9eecd7c1","block_type":"box","text":"Overlay may limit the choice of investments available to the Sub-Fund and therefore it may not perform in line (either","page_number":216,"box":{"x":62,"y":612,"width":862,"height":11}},{"id":"f542f6b3-34d4-4c81-9a26-94ecc72efe9c","block_type":"box","text":"positively or negatively) with the Index or other similar funds that have a broader investment policy.","page_number":216,"box":{"x":62,"y":625,"width":731,"height":12}},{"id":"67776b7a-b824-476d-90a9-3a94a6fa4eb1","block_type":"box","text":"ESG scores assess a company’s resilience to financially material environmental, societal and governance risks, in","page_number":216,"box":{"x":63,"y":653,"width":859,"height":11}},{"id":"5b267352-546c-44fc-ae3d-fd8103541783","block_type":"box","text":"each case being risks to their financial performance relative to other companies in the same sector. Carbon intensity","page_number":216,"box":{"x":62,"y":666,"width":861,"height":12}},{"id":"01b9768d-d931-4311-8bca-baf41e1f0967","block_type":"box","text":"scores measure how carbon-intensive a company’s activities are and provides a comparable metric for assessment","page_number":216,"box":{"x":62,"y":680,"width":861,"height":11}},{"id":"c525d336-cc3d-4256-8788-8b2205a0b84a","block_type":"box","text":"against peers, portfolios and benchmarks.","page_number":216,"box":{"x":62,"y":694,"width":310,"height":11}},{"id":"5530a77b-dd85-4115-93b5-01ac14337b82","block_type":"box","text":"The Sub-Fund’s holdings will be reviewed and, if necessary, rebalanced quarterly and/or on an ad hoc basis when","page_number":216,"box":{"x":62,"y":721,"width":860,"height":11}},{"id":"567cd57f-9c99-48bf-9e12-3a69eddec594","block_type":"box","text":"the Investment Manager is of the opinion that market conditions dictate, taking into account any changes to companies","page_number":216,"box":{"x":62,"y":735,"width":861,"height":11}},{"id":"20ad8886-9356-4c93-9708-ea0ff665832a","block_type":"box","text":"in the Index, the latest available data and market conditions.","page_number":216,"box":{"x":62,"y":749,"width":444,"height":10}},{"id":"de9265a2-ad5e-4d22-9392-f2410451b134","block_type":"box","text":"Further information on the ESG Overlay is set out in Appendix 4. Further information on the baseline","page_number":216,"box":{"x":63,"y":776,"width":860,"height":11}},{"id":"620e86d7-8240-47d8-a834-0637a7b2cd80","block_type":"box","text":"exclusion policy is set out in Appendix 2.","page_number":216,"box":{"x":62,"y":789,"width":327,"height":12}},{"id":"a1dfe6db-7e3d-40f1-87f5-5308faeb2fee","block_type":"box","text":"Performance & Risk Strategy:","page_number":216,"box":{"x":63,"y":823,"width":234,"height":11}},{"id":"58fc5f3a-d8eb-482c-a668-5aef76075a79","block_type":"box","text":"The Sub-Fund’s performance is measured against the Index over a rolling 12 month period, before charges and taxes.","page_number":216,"box":{"x":62,"y":842,"width":860,"height":11}},{"id":"fcf132f5-7ae6-40e2-a7c8-9cef4d74e2ad","block_type":"box","text":"However, the Sub-Fund will not hold every company in the Index and may also hold investments that do not form part","page_number":216,"box":{"x":63,"y":856,"width":860,"height":11}},{"id":"71deffd5-e9da-472a-85e8-2c545a931a2a","block_type":"box","text":"of the Index.","page_number":216,"box":{"x":62,"y":870,"width":90,"height":8}},{"id":"141e7e43-e733-4d11-97ed-1e847d6f9b6c","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund’s returns and the returns of","page_number":216,"box":{"x":62,"y":897,"width":861,"height":11}},{"id":"3f903773-82e6-42fb-84fa-bd0dcf567572","block_type":"box","text":"the Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":216,"box":{"x":62,"y":910,"width":860,"height":12}},{"id":"3a0fef25-9d27-4861-8b20-bc028094b4f7","block_type":"box","text":"and vice-versa.","page_number":216,"box":{"x":62,"y":924,"width":112,"height":9}},{"id":"bacfd009-e7c3-4b51-bbf2-16d51ed76128","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":217,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"4b1e5876-e4c5-408b-8551-7c87c7616aab","block_type":"box","text":"217","page_number":217,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"f491a780-2b6b-42c1-a9a6-87a2b63a25a6","block_type":"box","text":"Aviva Investors: Confidential","page_number":217,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"627377e1-c54c-413e-8503-cc49b521041f","block_type":"box","text":"The Sub-Fund is expected to have an average yearly tracking error of between 0% to 0.85% when compared to the","page_number":217,"box":{"x":62,"y":66,"width":861,"height":11}},{"id":"a9d1ac05-4838-4882-971f-2d4ec826ae4a","block_type":"box","text":"Index (excluding charges and taxes). However, there may be times when the Sub-Fund operates outside of this range.","page_number":217,"box":{"x":63,"y":80,"width":859,"height":11}},{"id":"a405fdd3-ba1d-4768-92d6-8677b2d7fae9","block_type":"box","text":"The Investment Manager will review the tracking error range on a periodic basis and, if appropriate, may update the","page_number":217,"box":{"x":62,"y":94,"width":861,"height":11}},{"id":"0b6f67a8-8ac0-4eeb-8d2a-f22efed2c750","block_type":"box","text":"range by updating this Prospectus.","page_number":217,"box":{"x":63,"y":107,"width":256,"height":11}},{"id":"aa9ff416-3c62-4cbb-b2da-470b7a567d86","block_type":"box","text":"The Index comprises large and medium sized companies in the US and Canada, covering 85% of the free float","page_number":217,"box":{"x":62,"y":134,"width":860,"height":12}},{"id":"6af05a71-1d16-4c0b-95c6-13bb47dbd249","block_type":"box","text":"adjusted market capitalisation in the US and Canada. The Index has been selected as a measure for performance","page_number":217,"box":{"x":62,"y":148,"width":861,"height":11}},{"id":"ea9b4d74-017f-4095-974d-f99fb860dd97","block_type":"box","text":"because it is representative of the type of assets in which the Sub-Fund is likely to invest, and it is therefore an","page_number":217,"box":{"x":62,"y":162,"width":860,"height":11}},{"id":"ab156bc6-398d-4b3a-82aa-454069a0d9b7","block_type":"box","text":"appropriate measure for the Sub-Fund’s performance.","page_number":217,"box":{"x":62,"y":175,"width":399,"height":11}},{"id":"9f38b297-b6c2-41e8-892d-e8a0c57ca11f","block_type":"box","text":"To allow assessment of the Sub-Fund’s ESG outcomes, the ESG and carbon intensity scores of the Sub-Fund,","page_number":217,"box":{"x":62,"y":203,"width":860,"height":12}},{"id":"5fe9d7b3-a91c-43f3-9d05-3484db173774","block_type":"box","text":"compared to those of the Index, will be reported to investors quarterly based on the latest 12 month rolling data.","page_number":217,"box":{"x":62,"y":217,"width":826,"height":11}},{"id":"c37ec324-c253-4129-94ab-61383dcd516b","block_type":"box","text":"Additional Information","page_number":217,"box":{"x":62,"y":256,"width":177,"height":9}},{"id":"4bb7509d-5235-4663-ac6b-7600a866f378","block_type":"box","text":"Investment Manager","page_number":217,"box":{"x":118,"y":283,"width":151,"height":11}},{"id":"e88fdeb5-871d-40b6-a304-bda25d1ca296","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":217,"box":{"x":352,"y":283,"width":294,"height":8}},{"id":"13bd07ea-3ef2-4a22-9355-730075abd12c","block_type":"box","text":"Type of Units","page_number":217,"box":{"x":116,"y":309,"width":98,"height":11}},{"id":"0edb4cd1-f086-4fb7-91d1-35323a442638","block_type":"box","text":"UK Corporate Accumulation Units","page_number":217,"box":{"x":353,"y":309,"width":250,"height":11}},{"id":"6df57521-5ae3-4156-b1d9-8489768eb46e","block_type":"box","text":"Insured Pension Accumulation Units","page_number":217,"box":{"x":354,"y":335,"width":267,"height":9}},{"id":"622293c8-93f3-49f4-8401-5fcbc5339030","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":217,"box":{"x":353,"y":361,"width":275,"height":9}},{"id":"f50d2d53-85e9-46b2-9e5c-376d80f16e73","block_type":"box","text":"Dealing Day","page_number":217,"box":{"x":118,"y":387,"width":89,"height":11}},{"id":"75c33100-2dae-461d-a38e-ce75cacf5639","block_type":"box","text":"Each Business Day","page_number":217,"box":{"x":354,"y":387,"width":143,"height":11}},{"id":"bf2ec74b-6630-4b3a-8210-7caf4996e9a8","block_type":"box","text":"Deal Cut-Off Point","page_number":217,"box":{"x":118,"y":413,"width":134,"height":9}},{"id":"a1a38c0d-0bbc-4bbd-a011-0d9f61b6c51f","block_type":"box","text":"12.00 noon","page_number":217,"box":{"x":354,"y":414,"width":81,"height":8}},{"id":"60c5bbc7-f0ac-4f44-a5fd-cc4e4b2ddff8","block_type":"box","text":"Valuation Point","page_number":217,"box":{"x":117,"y":440,"width":112,"height":8}},{"id":"4e78a18d-e674-4d90-8fba-95c4269ec8fa","block_type":"box","text":"3.00 pm","page_number":217,"box":{"x":353,"y":440,"width":59,"height":10}},{"id":"02686b1f-c4f1-4905-8cf5-96f25a8116dc","block_type":"box","text":"*Minimum Investment","page_number":217,"box":{"x":117,"y":466,"width":172,"height":8}},{"id":"55986aa4-4e25-4432-ac33-3409c4ec0c7d","block_type":"box","text":"UK Corporate Accumulation","page_number":217,"box":{"x":118,"y":491,"width":205,"height":12}},{"id":"5d442bf1-5a2e-44bc-851b-458b39f5395d","block_type":"box","text":"Units, Insured Pension","page_number":217,"box":{"x":118,"y":505,"width":166,"height":11}},{"id":"982dfb3a-8b16-4571-bf36-86d937b9408c","block_type":"box","text":"Accumulation Units","page_number":217,"box":{"x":116,"y":519,"width":143,"height":9}},{"id":"e9e1d5a6-02a5-44b5-8699-1ba3d3d32a8b","block_type":"box","text":"UK Fund of Fund","page_number":217,"box":{"x":118,"y":538,"width":125,"height":9}},{"id":"5b7209fe-e0a5-4637-aeb5-f905458577bd","block_type":"box","text":"Accumulation Units","page_number":217,"box":{"x":116,"y":552,"width":143,"height":9}},{"id":"63efba3a-aa9a-432f-96ea-00019b7b925a","block_type":"box","text":"No minimum","page_number":217,"box":{"x":353,"y":492,"width":92,"height":8}},{"id":"2ca473d5-7397-43d4-a598-5103d593dd0b","block_type":"box","text":"Minimum withdrawal","page_number":217,"box":{"x":117,"y":578,"width":150,"height":9}},{"id":"412721c6-8c97-4648-b25c-b1b3dd96e400","block_type":"box","text":"No minimum","page_number":217,"box":{"x":353,"y":578,"width":92,"height":9}},{"id":"b1905616-f223-4bc1-b893-459fa019eab3","block_type":"box","text":"Tax Criteria for investment","page_number":217,"box":{"x":116,"y":604,"width":213,"height":9}},{"id":"e2131a12-2363-40da-8c3d-9325f7cdf2b3","block_type":"box","text":"UK Corporate Accumulation","page_number":217,"box":{"x":118,"y":630,"width":205,"height":12}},{"id":"83061507-60ae-4515-b24d-a3de11cff960","block_type":"box","text":"Units","page_number":217,"box":{"x":118,"y":644,"width":36,"height":9}},{"id":"30018e22-4319-42b2-aeac-691535b9e8a4","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":217,"box":{"x":352,"y":630,"width":404,"height":12}},{"id":"2f2b5609-dfdd-4f5f-bd4b-ad927ed5698e","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units","page_number":217,"box":{"x":353,"y":644,"width":404,"height":11}},{"id":"997501e8-1717-496b-b931-37168e8b74eb","block_type":"box","text":"for purposes other than to back exclusively its unit","page_number":217,"box":{"x":352,"y":658,"width":405,"height":11}},{"id":"96a7de0e-8280-4c19-be18-10a4560b1bf8","block_type":"box","text":"linked pension business contracts.","page_number":217,"box":{"x":353,"y":672,"width":253,"height":11}},{"id":"a1eaa98b-0e85-4b27-9c73-2102ac5bb492","block_type":"box","text":"Insured Pension","page_number":217,"box":{"x":118,"y":698,"width":118,"height":8}},{"id":"58e5d7f6-9a37-41fc-9b4c-f170155e4f7a","block_type":"box","text":"Accumulation Units","page_number":217,"box":{"x":116,"y":711,"width":143,"height":9}},{"id":"70e54241-1059-462b-af8f-7788e99c95cf","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":217,"box":{"x":352,"y":697,"width":404,"height":12}},{"id":"80c94727-4323-4590-9990-598bc269fc24","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":217,"box":{"x":353,"y":711,"width":404,"height":11}},{"id":"98fd1de9-49fc-4018-9acf-3d8a07cbd8f5","block_type":"box","text":"back exclusively its unit linked pension business","page_number":217,"box":{"x":353,"y":725,"width":404,"height":11}},{"id":"4732a17c-89b8-48d4-985a-83ec79a26bd5","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":217,"box":{"x":353,"y":738,"width":404,"height":12}},{"id":"87c167d2-d6be-4f7a-9678-724c437afcbd","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":217,"box":{"x":353,"y":752,"width":307,"height":11}},{"id":"9f2d0f36-0dad-4d9c-b9a6-7f68ffcd8edb","block_type":"box","text":"UK Fund of Fund","page_number":217,"box":{"x":118,"y":778,"width":125,"height":9}},{"id":"47efa2ee-0585-4b9c-9d47-9ec93cffc712","block_type":"box","text":"Accumulation Units","page_number":217,"box":{"x":116,"y":792,"width":143,"height":9}},{"id":"4a88f1f0-555e-4a8a-8451-f43660d4310d","block_type":"box","text":"A sub-fund of a UK authorised Open-Ended Investment","page_number":217,"box":{"x":352,"y":778,"width":405,"height":11}},{"id":"2f09d557-f495-459c-94e2-277295b06a04","block_type":"box","text":"Company which is part of or otherwise managed by the","page_number":217,"box":{"x":353,"y":792,"width":403,"height":11}},{"id":"1d195cab-6e35-4b5d-8d04-7cc3226929ed","block_type":"box","text":"Aviva Group.","page_number":217,"box":{"x":352,"y":806,"width":96,"height":11}},{"id":"dd3b1a4f-ec88-4040-aa0a-8362e2880975","block_type":"box","text":"**Current Charges:","page_number":217,"box":{"x":117,"y":832,"width":149,"height":11}},{"id":"bc2fe3f6-323d-48cf-ba30-3943de657b97","block_type":"box","text":"UK Corporate Accumulation","page_number":217,"box":{"x":118,"y":858,"width":205,"height":11}},{"id":"1ea2e3e4-6e2c-4340-9d44-8b3a157d8916","block_type":"box","text":"Units, Insured Pension","page_number":217,"box":{"x":118,"y":872,"width":166,"height":10}},{"id":"cb334af6-014f-46a3-9e06-51c5de7fe4ac","block_type":"box","text":"Accumulation Units","page_number":217,"box":{"x":116,"y":885,"width":143,"height":9}},{"id":"75e4a7f5-cf74-4eba-8005-24dfa2fbd161","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":217,"box":{"x":352,"y":858,"width":404,"height":11}},{"id":"b67095e7-781e-4ddf-9f6a-8f0af84ad2e8","block_type":"box","text":"Unitholder","page_number":217,"box":{"x":353,"y":872,"width":75,"height":8}},{"id":"54200999-475f-491e-9462-936883d5f412","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":217,"box":{"x":352,"y":891,"width":404,"height":11}},{"id":"60fdf673-4351-4d64-8b1a-d355c95d008c","block_type":"box","text":"property","page_number":217,"box":{"x":353,"y":906,"width":60,"height":10}},{"id":"b639f894-e2af-40a8-aaf2-8a173aa40d6a","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":218,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"d601738d-2340-4672-9892-8309b16572c0","block_type":"box","text":"218","page_number":218,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"68b502b5-4129-409e-b0ea-0c9fcfb5921e","block_type":"box","text":"Aviva Investors: Confidential","page_number":218,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"933a54d2-658c-4693-9b4f-f669eebb747e","block_type":"box","text":"UK Fund of Fund","page_number":218,"box":{"x":118,"y":53,"width":125,"height":9}},{"id":"67dd301e-e9d3-412f-9538-9bd62a1212a1","block_type":"box","text":"Accumulation Units","page_number":218,"box":{"x":116,"y":67,"width":143,"height":9}},{"id":"c7725c3d-1594-4bc7-b2f3-5d848e0b12c7","block_type":"box","text":"ACS management charge: Deducted from Scheme","page_number":218,"box":{"x":352,"y":59,"width":404,"height":11}},{"id":"fcb27763-e885-411b-af15-7b959f5749bb","block_type":"box","text":"Property of FoF Units.","page_number":218,"box":{"x":354,"y":73,"width":161,"height":11}},{"id":"1578b38b-e2a1-4f0b-8997-999d99909b5c","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":218,"box":{"x":352,"y":92,"width":404,"height":12}},{"id":"e298ce83-e538-4900-af0a-fb1167ac6168","block_type":"box","text":"Property.","page_number":218,"box":{"x":354,"y":106,"width":65,"height":11}},{"id":"068d6d8f-4156-4b28-827d-85d7626766e6","block_type":"box","text":"The ACS management charge deducted from Scheme","page_number":218,"box":{"x":352,"y":125,"width":404,"height":12}},{"id":"3bff9c70-3806-4726-b0dd-4c4a79d73093","block_type":"box","text":"Property shall be reduced by an amount equal to the","page_number":218,"box":{"x":354,"y":139,"width":403,"height":11}},{"id":"a2bd9633-6ae4-48ad-b699-8c8899b057a1","block_type":"box","text":"Administration Charge deducted from the Scheme","page_number":218,"box":{"x":352,"y":153,"width":404,"height":11}},{"id":"61f733b5-3f2c-4993-821d-71fefd99569b","block_type":"box","text":"Property of that Sub-Fund and Unit Class in the","page_number":218,"box":{"x":354,"y":166,"width":402,"height":12}},{"id":"c63b7d9e-6494-4c1f-b55e-013c019cdb6e","block_type":"box","text":"relevant period.","page_number":218,"box":{"x":353,"y":180,"width":113,"height":11}},{"id":"53918d83-1a97-45bb-a81c-bc9517c85eb4","block_type":"box","text":"Accounting Dates","page_number":218,"box":{"x":117,"y":206,"width":141,"height":12}},{"id":"245482d9-a9cf-47de-9bf6-047e64f4a7bc","block_type":"box","text":"Annual Accounting Date","page_number":218,"box":{"x":116,"y":233,"width":180,"height":11}},{"id":"97389f96-dec1-4564-9346-d15693c548e3","block_type":"box","text":"31 December","page_number":218,"box":{"x":353,"y":233,"width":100,"height":8}},{"id":"f473dbf6-96e4-4a6d-9851-0a2854c5452a","block_type":"box","text":"First Accounting Date","page_number":218,"box":{"x":118,"y":259,"width":158,"height":11}},{"id":"54f4dba1-408f-4c85-9fc9-ebe4ac85cb11","block_type":"box","text":"31 December 2023","page_number":218,"box":{"x":353,"y":259,"width":141,"height":9}},{"id":"d5b0cd03-30be-4686-9219-9ee185c78aad","block_type":"box","text":"Annual Income Allocation","page_number":218,"box":{"x":116,"y":285,"width":188,"height":8}},{"id":"c239bc7f-d827-405e-8c16-2cadcaed91fd","block_type":"box","text":"Date","page_number":218,"box":{"x":118,"y":298,"width":33,"height":9}},{"id":"1065be62-6441-4195-833f-fc9d48c89733","block_type":"box","text":"On or before 28 /29 February","page_number":218,"box":{"x":353,"y":285,"width":217,"height":11}},{"id":"21c3b69a-5416-45db-ac21-68de1fe74a90","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":218,"box":{"x":118,"y":325,"width":293,"height":11}},{"id":"b9accb6d-04fb-4eb1-b31d-f0b0f9eda10f","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":218,"box":{"x":62,"y":350,"width":861,"height":12}},{"id":"c3571878-bc8d-4f51-bedf-f771a960206c","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":218,"box":{"x":62,"y":364,"width":408,"height":11}},{"id":"d96a0d77-7f04-45dc-a512-60ebbd7a76fe","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":218,"box":{"x":62,"y":384,"width":642,"height":11}},{"id":"7b7b9741-6d6a-4beb-a85d-354057c7884a","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":218,"box":{"x":62,"y":403,"width":860,"height":12}},{"id":"13388796-845a-466c-8a7b-1c9f54ade365","block_type":"box","text":"this Prospectus.","page_number":218,"box":{"x":62,"y":417,"width":117,"height":11}},{"id":"735c1aef-b134-430c-b693-49d9ee84980d","block_type":"box","text":"□","page_number":218,"box":{"x":62,"y":432,"width":5,"height":4}},{"id":"622e8cc2-2296-4f7f-82eb-61e2ee4ade19","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":218,"box":{"x":74,"y":431,"width":342,"height":8}},{"id":"eea3a422-507b-49b3-96d9-0cac6e7f0f73","block_type":"box","text":"□","page_number":218,"box":{"x":62,"y":460,"width":5,"height":3}},{"id":"40a9900d-fef5-4859-bc07-f3ccbafd2cf8","block_type":"box","text":"□","page_number":218,"box":{"x":69,"y":460,"width":5,"height":3}},{"id":"d2323042-e019-4ca6-bcb3-4b4bed942fa6","block_type":"box","text":"Our ESG assessments and exclusions are reliant on: (i) data provided by third party data providers; and (ii) AI and","page_number":218,"box":{"x":75,"y":458,"width":847,"height":11}},{"id":"ec1eaa1a-50e7-4e97-8761-468b584fac56","block_type":"box","text":"third-party proprietary models. Data from these third-party data providers or used in our ESG models may be","page_number":218,"box":{"x":62,"y":472,"width":861,"height":11}},{"id":"9f9a8acd-8e44-4cd9-b0d3-485745a6b277","block_type":"box","text":"incomplete, inaccurate or unavailable. As a result, there is a risk that the Investment Manager may, from time to time,","page_number":218,"box":{"x":62,"y":485,"width":860,"height":12}},{"id":"7a513c34-8728-4de4-a34d-d9714becde81","block_type":"box","text":"incorrectly assess an asset. There is also a risk that the Investment Manager, or the third-party data providers on","page_number":218,"box":{"x":62,"y":499,"width":860,"height":11}},{"id":"bda708ba-c1f6-471b-a746-b8a31e822831","block_type":"box","text":"which we may depend, may not interpret or apply the relevant ESG characteristics correctly. Our proprietary ESG tool","page_number":218,"box":{"x":62,"y":513,"width":860,"height":11}},{"id":"6366b915-819f-4ab0-ab10-6bd2cbf2b1df","block_type":"box","text":"emphasises the ESG factors which we determine are most closely correlated to potential financial outperformance.","page_number":218,"box":{"x":62,"y":526,"width":860,"height":11}},{"id":"c5999cdb-21f1-4d25-9fdc-8057d567e804","block_type":"box","text":"Accordingly, it should not be used as a comprehensive measure of the sustainability risks (or the overall ESG","page_number":218,"box":{"x":62,"y":540,"width":860,"height":11}},{"id":"ddbb30a3-59d8-432b-9915-d8ddfbc18c19","block_type":"box","text":"quality/credentials) of a Sub-Fund.","page_number":218,"box":{"x":62,"y":554,"width":254,"height":11}},{"id":"b8992b9d-4d0e-4571-ab0d-9da3e6888d9b","block_type":"box","text":"Securities Financing and other Transactions:","page_number":218,"box":{"x":62,"y":579,"width":358,"height":11}},{"id":"3d2c60f0-805d-46bb-a6e3-2e5284c7e360","block_type":"box","text":"The types of assets which may be subject to TRS are limited to Equity Securities.","page_number":218,"box":{"x":62,"y":599,"width":601,"height":11}},{"id":"9ffb19e0-bc80-4e31-a9e7-b8760ec5042a","block_type":"box","text":"The assets which may be subject to securities lending or repo transactions will be limited to Equity Securities.","page_number":218,"box":{"x":62,"y":638,"width":809,"height":11}},{"id":"bb88e7a4-522d-4f2f-905f-2cd5274e9659","block_type":"box","text":"Given that the Sub-Fund’s assets cannot be described as being ‘subject to’ TRS, the maximum and expected","page_number":218,"box":{"x":62,"y":677,"width":860,"height":11}},{"id":"d0cf5740-8a36-4d24-9cbc-6ee6482cd0f4","block_type":"box","text":"percentages of TRS are given as the gross aggregate notional of TRS as a percentage of the NAV.","page_number":218,"box":{"x":62,"y":691,"width":734,"height":11}},{"id":"875132dc-809f-4d18-9443-181721c8326c","block_type":"box","text":"The maximum proportion of the assets of the Fund which may be subject to TRS, securities lending or repo","page_number":218,"box":{"x":62,"y":738,"width":794,"height":11}},{"id":"67d04f83-cb6c-4ec2-b252-5b6866e70adf","block_type":"box","text":"transactions is as follows:","page_number":218,"box":{"x":62,"y":754,"width":188,"height":9}},{"id":"dd23631b-2654-4f17-bd9c-d432f9c6cdc6","block_type":"box","text":"Total Return Swaps","page_number":218,"box":{"x":71,"y":790,"width":133,"height":11}},{"id":"64e086dd-7f86-466e-8d02-2a9d14b83f54","block_type":"box","text":"10%","page_number":218,"box":{"x":461,"y":790,"width":27,"height":9}},{"id":"5e402be4-7277-47cf-8b99-b1f4154d24dc","block_type":"box","text":"Securities Lending","page_number":218,"box":{"x":72,"y":812,"width":125,"height":11}},{"id":"60baaae1-72d7-43cf-a61a-62cbc97b9f22","block_type":"box","text":"50%","page_number":218,"box":{"x":460,"y":812,"width":28,"height":9}},{"id":"34ca0d28-c1a2-46ae-8b6d-76238f25b31f","block_type":"box","text":"Repo Transactions","page_number":218,"box":{"x":71,"y":834,"width":125,"height":11}},{"id":"cd9343cc-3274-43ad-8c43-35ae7f4011be","block_type":"box","text":"50%","page_number":218,"box":{"x":460,"y":834,"width":28,"height":9}},{"id":"f9d1a081-a2a5-4db1-b519-8ff0ebd9f530","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":219,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"300ae4a8-4110-42a4-ab6b-ca8765d7a92c","block_type":"box","text":"219","page_number":219,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"e08dde99-1122-4a7e-acdd-c542ae32516c","block_type":"box","text":"Aviva Investors: Confidential","page_number":219,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"4b8e24e8-08d6-4c65-a3ee-e8816791a26b","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":219,"box":{"x":62,"y":53,"width":823,"height":11}},{"id":"a640557c-7e2e-4cd4-ba29-b36ead7e75af","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to TRS, securities lending or","page_number":219,"box":{"x":62,"y":68,"width":828,"height":11}},{"id":"27f2ea24-1a28-4873-a284-e32740bd64e8","block_type":"box","text":"repo transactions is as follows:","page_number":219,"box":{"x":63,"y":84,"width":226,"height":11}},{"id":"80e9745d-6e51-42b2-a389-0646d71d9bcc","block_type":"box","text":"Total Return Swaps","page_number":219,"box":{"x":71,"y":120,"width":133,"height":11}},{"id":"d1d88a33-58d5-44af-97b8-5cf37e593fd1","block_type":"box","text":"0%","page_number":219,"box":{"x":460,"y":120,"width":20,"height":9}},{"id":"534991ab-1e9e-4e02-a6fe-0ee413d8c7e4","block_type":"box","text":"Securities Lending","page_number":219,"box":{"x":72,"y":142,"width":125,"height":11}},{"id":"7dfa7050-ccdc-4358-a453-979c9e7a3e04","block_type":"box","text":"15%","page_number":219,"box":{"x":461,"y":142,"width":27,"height":9}},{"id":"f548dc63-1422-43c1-b551-479c9c2f3054","block_type":"box","text":"Repo Transactions","page_number":219,"box":{"x":71,"y":164,"width":125,"height":11}},{"id":"818b17d6-5adc-4598-8d46-07fd72ababae","block_type":"box","text":"7","page_number":219,"box":{"x":459,"y":165,"width":8,"height":7}},{"id":"dadb8773-206a-49f6-93bf-ab7a9deaef9e","block_type":"box","text":".","page_number":219,"box":{"x":469,"y":171,"width":2,"height":1}},{"id":"fe5e2194-bd8e-4a32-9f0d-20610acd2ecf","block_type":"box","text":"5%","page_number":219,"box":{"x":472,"y":164,"width":20,"height":9}},{"id":"2bd32604-7d5a-4a70-adea-2700674d2354","block_type":"box","text":"The expected proportion of AUM subject to TRS, securities lending or repo transactions is indicative only and,","page_number":219,"box":{"x":62,"y":206,"width":812,"height":11}},{"id":"722acc51-0661-4714-b12d-bd75e2883fff","block_type":"box","text":"depending on market conditions and the strategies employed, the actual exposure may be outside of that range at","page_number":219,"box":{"x":62,"y":221,"width":845,"height":12}},{"id":"d144aac1-7d00-49a1-8a36-f00b22c1daae","block_type":"box","text":"any given point in time. There may be times when there the proportion of AUM subject to TRS, securities lending or","page_number":219,"box":{"x":62,"y":237,"width":854,"height":11}},{"id":"f0944342-5a7a-4e38-aa84-b0abbe99111c","block_type":"box","text":"repo transactions is zero.","page_number":219,"box":{"x":63,"y":253,"width":184,"height":11}},{"id":"142bcfea-aff4-4ef2-8867-732fe1ffc9b0","block_type":"box","text":"Leverage","page_number":219,"box":{"x":63,"y":300,"width":72,"height":11}},{"id":"455c8e43-2e1a-4d3b-bb06-3e12d3d23731","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":219,"box":{"x":63,"y":320,"width":860,"height":11}},{"id":"1081d67a-5281-4d03-b8d2-5c425fd93b01","block_type":"box","text":"management.","page_number":219,"box":{"x":62,"y":334,"width":101,"height":10}},{"id":"8d423304-71c9-4ef7-a789-9ae02bd01071","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":219,"box":{"x":62,"y":366,"width":860,"height":12}},{"id":"ac41f552-6490-4034-bf6e-320bf68a27ad","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":219,"box":{"x":62,"y":380,"width":649,"height":11}},{"id":"3e8c882d-359f-4110-991b-f9fbe82e0525","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":219,"box":{"x":62,"y":407,"width":755,"height":12}},{"id":"2a13e96b-611d-40b6-9a11-ac4addeb085f","block_type":"box","text":"Permitted derivatives","page_number":219,"box":{"x":72,"y":437,"width":168,"height":9}},{"id":"3c2c5ee8-4777-44ac-acae-c907ebae3357","block_type":"box","text":"Permitted?","page_number":219,"box":{"x":383,"y":437,"width":85,"height":9}},{"id":"ae8c7793-7a0d-4cd1-8b16-fd8b89cd3e7a","block_type":"box","text":"Prohibited?","page_number":219,"box":{"x":489,"y":437,"width":91,"height":9}},{"id":"020109ad-3fc6-45b5-838d-b130ff2985fb","block_type":"box","text":"Equity index futures","page_number":219,"box":{"x":72,"y":458,"width":146,"height":11}},{"id":"77a8e6a5-997b-4cb9-a906-a42b34e88238","block_type":"box","text":"√","page_number":219,"box":{"x":421,"y":458,"width":8,"height":8}},{"id":"75e80229-27e6-4b75-9940-7dab04e3f65c","block_type":"box","text":"Government bond futures","page_number":219,"box":{"x":72,"y":476,"width":188,"height":9}},{"id":"9c623535-3c10-485b-b304-3f2a9bec2d29","block_type":"box","text":"√","page_number":219,"box":{"x":530,"y":477,"width":8,"height":7}},{"id":"8406a2f9-a0a5-4d73-8bb1-d3b79ec9c5c9","block_type":"box","text":"Equity index options","page_number":219,"box":{"x":72,"y":495,"width":148,"height":11}},{"id":"b1bce5d7-5e2c-4967-a9f7-fc0120c50769","block_type":"box","text":"√","page_number":219,"box":{"x":530,"y":495,"width":8,"height":8}},{"id":"02065a87-4300-427b-95b7-1e8a81b5e6d1","block_type":"box","text":"Forward foreign exchange","page_number":219,"box":{"x":72,"y":513,"width":193,"height":11}},{"id":"78caeea5-ff5f-4715-983c-ef1aa1e6b01b","block_type":"box","text":"√","page_number":219,"box":{"x":421,"y":513,"width":8,"height":8}},{"id":"fc83bda4-c909-4828-9378-779681a8f787","block_type":"box","text":"Index credit default swaps","page_number":219,"box":{"x":72,"y":531,"width":192,"height":12}},{"id":"b3f3478c-9399-4068-97f2-f8769026c969","block_type":"box","text":"√","page_number":219,"box":{"x":530,"y":532,"width":8,"height":8}},{"id":"681f390d-5bd9-418f-ab00-c0a0cdd28fd4","block_type":"box","text":"Interest rate swaps","page_number":219,"box":{"x":72,"y":550,"width":140,"height":11}},{"id":"5a7978e4-1bf3-4009-bf81-b08ab1d01464","block_type":"box","text":"√","page_number":219,"box":{"x":530,"y":550,"width":8,"height":8}},{"id":"229499f7-8078-42c0-8cda-4874b45cc0bf","block_type":"box","text":"OTC equity options","page_number":219,"box":{"x":72,"y":568,"width":142,"height":11}},{"id":"e18b05af-60ea-4c09-a8e3-71d4648acdba","block_type":"box","text":"√","page_number":219,"box":{"x":530,"y":569,"width":8,"height":7}},{"id":"aaeaeae5-3107-4ca7-ad9b-65663a0c3b5b","block_type":"box","text":"Inflation swaps","page_number":219,"box":{"x":72,"y":587,"width":109,"height":11}},{"id":"161b154b-898e-4b4a-94a3-1ba120e67587","block_type":"box","text":"√","page_number":219,"box":{"x":530,"y":587,"width":8,"height":8}},{"id":"b54b7fd2-068a-4d40-9660-865a7bf93f01","block_type":"box","text":"Cross currency swaps","page_number":219,"box":{"x":72,"y":605,"width":163,"height":11}},{"id":"72a7569f-7717-4a9a-b159-617f47230563","block_type":"box","text":"√","page_number":219,"box":{"x":530,"y":606,"width":8,"height":7}},{"id":"c3e4b689-4091-4c2c-9879-5c7aa2c11d5e","block_type":"box","text":"Equity TRS -single name","page_number":219,"box":{"x":72,"y":621,"width":184,"height":12}},{"id":"242473d4-7d3e-414c-876e-4db76435012d","block_type":"box","text":"√","page_number":219,"box":{"x":421,"y":624,"width":8,"height":8}},{"id":"55b3f63b-adbb-48d8-b532-87cba013b66e","block_type":"box","text":"Equity TRS - index","page_number":219,"box":{"x":72,"y":640,"width":138,"height":11}},{"id":"8a8cff87-ff49-44c2-aaf3-644508029ad6","block_type":"box","text":"√","page_number":219,"box":{"x":421,"y":642,"width":8,"height":8}},{"id":"b40194d1-27b8-4a42-9b6f-d22bb73ecfd2","block_type":"box","text":"Other","page_number":219,"box":{"x":72,"y":660,"width":41,"height":9}},{"id":"4c6c74dd-4a3f-487a-919a-5574398d32e4","block_type":"box","text":"√","page_number":219,"box":{"x":530,"y":661,"width":8,"height":7}},{"id":"f4905daf-b16c-4bcd-82d5-2dbc8b29dad4","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":219,"box":{"x":63,"y":702,"width":860,"height":11}},{"id":"6444a6e8-457f-4974-aa46-c036f5b48c63","block_type":"box","text":"2)","page_number":219,"box":{"x":62,"y":716,"width":13,"height":11}},{"id":"02864774-0eea-46ca-af9e-62a26b0ba5be","block_type":"box","text":"Leverage Limits","page_number":219,"box":{"x":63,"y":743,"width":128,"height":11}},{"id":"30620a9e-3506-4198-8289-e2b3019b2232","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":219,"box":{"x":200,"y":743,"width":722,"height":11}},{"id":"70cdce7d-2093-436c-8f96-6ec077b7c627","block_type":"box","text":"Regime):","page_number":219,"box":{"x":63,"y":756,"width":65,"height":12}},{"id":"84dc6871-f616-4a12-971d-1eed6439ec43","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":219,"box":{"x":62,"y":784,"width":471,"height":11}},{"id":"20398ca4-5447-4c94-8f52-ed80329d9a74","block_type":"box","text":"","page_number":219,"box":{"x":62,"y":815,"width":6,"height":4}},{"id":"6e2c8cde-d960-4857-9f7b-ee2863f63c51","block_type":"box","text":"Gross Method: Up to 1.1:1","page_number":219,"box":{"x":92,"y":812,"width":193,"height":11}},{"id":"e15c26bc-8e7e-4dda-9752-c4cbfeb971bd","block_type":"box","text":"","page_number":219,"box":{"x":62,"y":832,"width":6,"height":4}},{"id":"9b226621-622c-4f70-bb22-afd8e83ce423","block_type":"box","text":"Commitment: Up to 1.1:1","page_number":219,"box":{"x":92,"y":828,"width":183,"height":12}},{"id":"6e95fac8-9a46-4813-9ce3-4f61c2a81644","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":219,"box":{"x":62,"y":856,"width":860,"height":11}},{"id":"a69dec1a-7ee4-4b9d-bd7f-0506fcceec80","block_type":"box","text":"which case leverage will not exceed the following:","page_number":219,"box":{"x":62,"y":870,"width":368,"height":11}},{"id":"62e99d88-57d2-4e1c-b18f-e2cc91e1b439","block_type":"box","text":"","page_number":219,"box":{"x":62,"y":901,"width":6,"height":4}},{"id":"1f0b22a1-9b1b-40a5-896b-8960e7eb5c78","block_type":"box","text":"Gross Method: Up to 2:1","page_number":219,"box":{"x":92,"y":898,"width":179,"height":11}},{"id":"ca6d1b3c-eaec-4b68-836d-d812bbb9952e","block_type":"box","text":"","page_number":219,"box":{"x":62,"y":918,"width":6,"height":4}},{"id":"67c06123-e36b-44d5-865d-dcd640cb38b6","block_type":"box","text":"Commitment: Up to 1.5:1","page_number":219,"box":{"x":92,"y":914,"width":183,"height":11}},{"id":"2cb68115-bacc-42c2-9779-f3121933a7c1","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":220,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"dabb9616-fd55-4251-a9b3-8061fd366feb","block_type":"box","text":"220","page_number":220,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"ce007580-bde1-4204-a203-1ef8ca6ce909","block_type":"box","text":"Aviva Investors: Confidential","page_number":220,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"161f6410-2ee1-4ac8-90df-5705429fd279","block_type":"box","text":"Specific Risks","page_number":220,"box":{"x":62,"y":72,"width":113,"height":11}},{"id":"8a4ea287-b450-44c5-8a8e-09a6edf53d45","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":220,"box":{"x":181,"y":72,"width":462,"height":11}},{"id":"db48d1d5-016c-4418-b467-a184328ce113","block_type":"box","text":"","page_number":220,"box":{"x":62,"y":96,"width":6,"height":4}},{"id":"b0ddc064-3582-4c9d-953a-df8303fb6ad5","block_type":"box","text":"Single Market","page_number":220,"box":{"x":92,"y":93,"width":102,"height":11}},{"id":"83fb5698-df8e-44ec-9798-831e8c328d9b","block_type":"box","text":"","page_number":220,"box":{"x":62,"y":110,"width":6,"height":4}},{"id":"023bdafb-1ff7-4c1c-a2ec-70f35f2913c2","block_type":"box","text":"Equity Securities","page_number":220,"box":{"x":93,"y":107,"width":123,"height":11}},{"id":"2d21c41e-dbd1-486e-8ea8-4af7e6f39d59","block_type":"box","text":"","page_number":220,"box":{"x":62,"y":125,"width":6,"height":4}},{"id":"9b2ff6c7-3c82-402c-9789-80996d35ab32","block_type":"box","text":"Benchmark Indices","page_number":220,"box":{"x":93,"y":122,"width":140,"height":8}},{"id":"dcabccbf-4b1b-4908-94e7-8978e7497f1d","block_type":"box","text":"","page_number":220,"box":{"x":62,"y":139,"width":6,"height":4}},{"id":"0ad4e703-07f8-43ab-87e0-6a23bbecd0ce","block_type":"box","text":"Index-Related Risk","page_number":220,"box":{"x":93,"y":136,"width":140,"height":9}},{"id":"8153b92c-73ac-421c-9496-bf79d1f6f05a","block_type":"box","text":"","page_number":220,"box":{"x":62,"y":153,"width":6,"height":5}},{"id":"a91e7c9c-112e-4a82-814e-1d41bc2fcd15","block_type":"box","text":"Tracking Error","page_number":220,"box":{"x":92,"y":150,"width":106,"height":12}},{"id":"5018a0f9-65c6-43c5-ab55-71d8763fb9ea","block_type":"box","text":"Past Performance – Aviva Investors North American Equity Core Fund","page_number":220,"box":{"x":72,"y":196,"width":559,"height":11}},{"id":"fd8b51c6-3f62-4d30-a57c-f020f62b7a93","block_type":"box","text":"% Growth","page_number":220,"box":{"x":71,"y":216,"width":77,"height":8}},{"id":"a3db65f5-0efe-4c25-8405-459f9fc2399f","block_type":"box","text":"1/1/2024 to","page_number":220,"box":{"x":281,"y":241,"width":103,"height":9}},{"id":"c894d3f1-9497-49c1-a5ad-add848517a91","block_type":"box","text":"31/12/2024","page_number":220,"box":{"x":280,"y":254,"width":75,"height":8}},{"id":"b0ad314c-690f-4dc4-96b3-2a71612c14de","block_type":"box","text":"1/1/2023 to","page_number":220,"box":{"x":404,"y":241,"width":94,"height":9}},{"id":"b2a1af49-8417-4f13-a554-89fe1ae6fbbe","block_type":"box","text":"31/12/2023","page_number":220,"box":{"x":403,"y":254,"width":75,"height":8}},{"id":"9f2c8738-b58c-472a-bb0a-ad989c675132","block_type":"box","text":"1/1/2022 to","page_number":220,"box":{"x":517,"y":241,"width":94,"height":9}},{"id":"c0722a9a-aead-4e6e-88d8-3b2e8dffc954","block_type":"box","text":"31/12/2022","page_number":220,"box":{"x":516,"y":254,"width":75,"height":8}},{"id":"38dd9d9a-df81-4be7-9420-a1790de7820c","block_type":"box","text":"1/1/2021 to","page_number":220,"box":{"x":631,"y":241,"width":94,"height":9}},{"id":"d2280e33-39dd-4e1c-853b-90a16741be0d","block_type":"box","text":"31/12/2021","page_number":220,"box":{"x":630,"y":254,"width":73,"height":8}},{"id":"8b6576bb-0e24-44e5-a18e-db0fbcca15ea","block_type":"box","text":"1/1/2020 to","page_number":220,"box":{"x":744,"y":241,"width":94,"height":9}},{"id":"abc2ac75-3c6a-4e7f-b159-2bcde8446e18","block_type":"box","text":"31/12/2020","page_number":220,"box":{"x":743,"y":254,"width":75,"height":8}},{"id":"ac170672-dfd0-411f-9b66-27637e795124","block_type":"box","text":"UK Corporate Income","page_number":220,"box":{"x":72,"y":279,"width":189,"height":10}},{"id":"50c9e1fd-e5af-4d74-b525-5847131e9c6d","block_type":"box","text":"Distribution Units (%)","page_number":220,"box":{"x":72,"y":291,"width":140,"height":10}},{"id":"cabf8b43-8e5d-4475-bccb-f30be63e437f","block_type":"box","text":"Insured Pension Income","page_number":220,"box":{"x":72,"y":316,"width":189,"height":8}},{"id":"7309a910-23a2-469c-9eb9-5e2fb4af109f","block_type":"box","text":"Distribution Units (%)","page_number":220,"box":{"x":72,"y":328,"width":140,"height":10}},{"id":"7a1e795f-82d3-449b-bdce-fe0e9213b102","block_type":"box","text":"UK Institutional","page_number":220,"box":{"x":72,"y":353,"width":189,"height":8}},{"id":"4c29d068-7fcd-4ec9-abd9-f7e078890f9c","block_type":"box","text":"Accumulation Units (%)","page_number":220,"box":{"x":71,"y":365,"width":156,"height":10}},{"id":"3317d483-1e62-42cd-b8de-dc6355f253ba","block_type":"box","text":"ACS (Fund of Fund)","page_number":220,"box":{"x":71,"y":390,"width":190,"height":10}},{"id":"cba53d62-e5f5-488a-994b-695fe4706743","block_type":"box","text":"Accumulation Units Class 1","page_number":220,"box":{"x":71,"y":402,"width":188,"height":8}},{"id":"84178652-8638-45c5-99a5-4cc2ca4838d6","block_type":"box","text":"(%)","page_number":220,"box":{"x":72,"y":414,"width":21,"height":10}},{"id":"ff83d914-a3c9-4527-b678-f03162db0242","block_type":"box","text":"ACS (Fund of Fund)","page_number":220,"box":{"x":71,"y":439,"width":190,"height":10}},{"id":"6e8791d0-48e9-4770-9fd8-95c270a522be","block_type":"box","text":"Accumulation Units Class 2","page_number":220,"box":{"x":71,"y":451,"width":190,"height":8}},{"id":"3ea055ca-e513-4201-aad9-988ff1d99401","block_type":"box","text":"(%)","page_number":220,"box":{"x":72,"y":464,"width":21,"height":10}},{"id":"ddb76939-20e2-4fa1-b287-f5849ba33627","block_type":"box","text":"UK Corporate Accumulation","page_number":220,"box":{"x":72,"y":488,"width":189,"height":10}},{"id":"757c4cf0-2335-48ba-9c4a-be0a45d84516","block_type":"box","text":"Units (%)","page_number":220,"box":{"x":72,"y":501,"width":60,"height":10}},{"id":"1009fca7-038b-4f77-af03-3a2efa15c092","block_type":"box","text":"27.09","page_number":220,"box":{"x":280,"y":489,"width":37,"height":7}},{"id":"899cac3b-01c5-4e65-9e3e-2aefcfc7cc09","block_type":"box","text":"18.48","page_number":220,"box":{"x":404,"y":489,"width":36,"height":7}},{"id":"78eafedc-d16f-4c98-97f3-7e93b6688687","block_type":"box","text":"N/A","page_number":220,"box":{"x":517,"y":488,"width":24,"height":8}},{"id":"96808ac6-b4c6-4cbf-9027-513974b882c8","block_type":"box","text":"N/A","page_number":220,"box":{"x":631,"y":488,"width":24,"height":8}},{"id":"c8108fce-1af4-45dd-9957-47be87e91000","block_type":"box","text":"N/A","page_number":220,"box":{"x":744,"y":488,"width":24,"height":8}},{"id":"e86767ee-9b93-4d0c-a1ab-ded227d5c0e1","block_type":"box","text":"Insured Pension","page_number":220,"box":{"x":72,"y":532,"width":189,"height":7}},{"id":"922e1e72-0d11-47c5-9256-2b1c47ce4ddd","block_type":"box","text":"Accumulation Units (%)","page_number":220,"box":{"x":71,"y":544,"width":156,"height":10}},{"id":"07e9a4f7-1b37-4c74-8c88-6ce5579f595d","block_type":"box","text":"27.29","page_number":220,"box":{"x":280,"y":532,"width":37,"height":7}},{"id":"446530cb-c12d-4f84-8c21-e03fe565e863","block_type":"box","text":"18.81","page_number":220,"box":{"x":404,"y":532,"width":34,"height":7}},{"id":"6bc8fa6e-8753-43e0-b7ca-24ba64665358","block_type":"box","text":"N/A","page_number":220,"box":{"x":517,"y":531,"width":24,"height":8}},{"id":"79995721-6086-4c2c-8fcb-9dec80221fcb","block_type":"box","text":"N/A","page_number":220,"box":{"x":631,"y":531,"width":24,"height":8}},{"id":"520ccb85-86a5-40c9-8a47-3a4af7ad4866","block_type":"box","text":"N/A","page_number":220,"box":{"x":744,"y":531,"width":24,"height":8}},{"id":"20596e5e-23db-4964-acd8-7749c2112424","block_type":"box","text":"UK Fund of Fund","page_number":220,"box":{"x":72,"y":574,"width":189,"height":8}},{"id":"24dd9219-edb8-4ab0-bd14-8d08872e02c8","block_type":"box","text":"Accumulation Units (%)","page_number":220,"box":{"x":71,"y":587,"width":156,"height":10}},{"id":"3569b663-3960-44e0-a231-b064f1ff1973","block_type":"box","text":"26.80","page_number":220,"box":{"x":280,"y":575,"width":37,"height":7}},{"id":"8baae7bd-2098-46d6-8f91-756e7e8da1c3","block_type":"box","text":"18.58","page_number":220,"box":{"x":404,"y":575,"width":36,"height":7}},{"id":"0bcbed89-aacc-4c7d-a9eb-88e7e73e86d7","block_type":"box","text":"N/A","page_number":220,"box":{"x":517,"y":574,"width":24,"height":8}},{"id":"d41070ec-91ec-4eda-a09a-da048ecb4f8e","block_type":"box","text":"N/A","page_number":220,"box":{"x":631,"y":574,"width":24,"height":8}},{"id":"14ec663c-00ac-48f8-a740-d6c18bc2e814","block_type":"box","text":"N/A","page_number":220,"box":{"x":744,"y":574,"width":24,"height":8}},{"id":"48f3ed6e-1a69-4086-bde7-595cc3ef812a","block_type":"box","text":"MSCI® North America Index","page_number":220,"box":{"x":72,"y":620,"width":191,"height":8}},{"id":"c01bd08c-238a-4c92-bb67-f54e567fcc70","block_type":"box","text":"(GBP)","page_number":220,"box":{"x":73,"y":633,"width":40,"height":10}},{"id":"b44c50e0-f82a-4528-bc29-70f0c8d8e122","block_type":"box","text":"6.46","page_number":220,"box":{"x":281,"y":621,"width":29,"height":7}},{"id":"947cf3cd-7ac6-4061-9df7-cd3ec63a0c17","block_type":"box","text":"18.86","page_number":220,"box":{"x":406,"y":621,"width":35,"height":7}},{"id":"0ae7dbcb-574d-43bc-adf9-2c278617dc4f","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":221,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"9fda76cf-19cd-4b69-be13-6cabe2ba5422","block_type":"box","text":"221","page_number":221,"box":{"x":780,"y":940,"width":17,"height":6}},{"id":"67a3dff4-d57e-4a40-9576-55aadfc7588f","block_type":"box","text":"Aviva Investors: Confidential","page_number":221,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"49e687df-4d86-48d7-9cc7-01d613fcc87d","block_type":"box","text":"Aviva Investors Emerging Market Equity Core Fund","page_number":221,"box":{"x":62,"y":53,"width":408,"height":11}},{"id":"e698a073-1a51-40f1-9df9-9743131b810c","block_type":"box","text":"FCA product reference number: 985195","page_number":221,"box":{"x":63,"y":72,"width":312,"height":11}},{"id":"7e6d8311-8d15-47ca-9483-423b4b548b49","block_type":"box","text":"The Sub-Fund is a sub-fund of the Scheme, a non-UCITS retail scheme under the COLL Sourcebook. The Sub-Fund","page_number":221,"box":{"x":62,"y":111,"width":860,"height":11}},{"id":"5a92d2cc-1ea4-4511-b342-7b3b55022c1b","block_type":"box","text":"was authorised by the FCA on 12 October 2022.","page_number":221,"box":{"x":62,"y":125,"width":357,"height":11}},{"id":"cb09e432-b551-4d82-a4c0-d109948ba67e","block_type":"box","text":"Investment Objective and Policy","page_number":221,"box":{"x":62,"y":164,"width":257,"height":11}},{"id":"44d8612a-c907-4a32-890b-d6ab4bbb1017","block_type":"box","text":"The Sub-Fund aims to deliver returns which are similar to the returns of the MSCI®","page_number":221,"box":{"x":62,"y":184,"width":622,"height":9}},{"id":"16a42bb2-b2fc-4cda-9892-c6ba4f07ce9b","block_type":"box","text":"Emerging Markets Index (USD)","page_number":221,"box":{"x":690,"y":184,"width":232,"height":11}},{"id":"0df5564e-adae-4aa3-bd5c-24479bf2d1a0","block_type":"box","text":"(the “","page_number":221,"box":{"x":63,"y":197,"width":40,"height":11}},{"id":"e644a0d5-4634-4f12-84c5-7123b8266a2f","block_type":"box","text":"Index","page_number":221,"box":{"x":104,"y":198,"width":43,"height":8}},{"id":"1633887a-efed-47e3-b0b8-7e9f664e47c2","block_type":"box","text":"”) over a rolling 12 month period (before charges and taxes) whilst investing in accordance with the","page_number":221,"box":{"x":147,"y":197,"width":776,"height":12}},{"id":"c21db9a3-e8dc-4548-bbfe-34049942f91b","block_type":"box","text":"investment strategy of the Sub-Fund.","page_number":221,"box":{"x":62,"y":211,"width":273,"height":11}},{"id":"5bf6d299-f7a5-4eae-be81-58bb0cad7cdc","block_type":"box","text":"Core investment:","page_number":221,"box":{"x":62,"y":250,"width":135,"height":9}},{"id":"6f957586-f970-4311-bb7c-bf6f8cdcebae","block_type":"box","text":"The Sub-Fund will invest to form a portfolio representative of the core regional market, as represented by the Index.","page_number":221,"box":{"x":62,"y":270,"width":860,"height":11}},{"id":"8aab2130-3a3a-43f8-8218-0a65aecdf032","block_type":"box","text":"It will therefore invest a minimum of 80% in shares of companies that make up the Index.","page_number":221,"box":{"x":63,"y":283,"width":656,"height":12}},{"id":"ca2c4181-e59d-44f4-ba62-10a728a69976","block_type":"box","text":"Other investments:","page_number":221,"box":{"x":62,"y":323,"width":151,"height":8}},{"id":"22b12157-f737-4642-ba99-6043c20218d6","block_type":"box","text":"The Sub-Fund may also invest in other shares, other funds (including funds managed by Aviva Investors companies),","page_number":221,"box":{"x":62,"y":342,"width":860,"height":12}},{"id":"a2fb42f1-8f5d-422a-a682-5e2f68d4f1c4","block_type":"box","text":"money market instruments, cash and deposits. Derivatives and forward transaction may be used from time to time to","page_number":221,"box":{"x":62,"y":356,"width":861,"height":11}},{"id":"5e0c3458-60f5-46d1-8d80-4864c1337051","block_type":"box","text":"gain a particular market exposure which would otherwise be difficult or costly to achieve, to manage the Sub-Fund’s","page_number":221,"box":{"x":62,"y":369,"width":861,"height":12}},{"id":"92c33f3c-2f4c-4003-9f34-3dab06e6e163","block_type":"box","text":"cash flows in a cost-effective manner, or to reduce foreign currency risk within the Sub-Fund.","page_number":221,"box":{"x":62,"y":383,"width":687,"height":11}},{"id":"d70f75bc-26d1-455a-a325-c12c2f7212b0","block_type":"box","text":"Strategy and ESG Overlay","page_number":221,"box":{"x":62,"y":422,"width":207,"height":12}},{"id":"1fd8bf19-88b0-4402-b46d-ea488d88495d","block_type":"box","text":"□","page_number":221,"box":{"x":280,"y":424,"width":5,"height":3}},{"id":"d2c86896-9d08-4e56-9c21-89f761df1367","block_type":"box","text":"□","page_number":221,"box":{"x":286,"y":424,"width":5,"height":3}},{"id":"8133d46c-807b-406b-95c5-545824ef696b","block_type":"box","text":":","page_number":221,"box":{"x":294,"y":425,"width":1,"height":6}},{"id":"63fcafed-5219-4014-b952-045d90717a5a","block_type":"box","text":"The Fund does not have any sustainability-related investment objectives. However, when selecting companies, the","page_number":221,"box":{"x":62,"y":442,"width":861,"height":11}},{"id":"23162940-3e8a-4137-b930-ff2c1fcd0062","block_type":"box","text":"Investment Manager uses a passive sampling approach together with the Aviva Investors’ baseline exclusion policy","page_number":221,"box":{"x":63,"y":456,"width":860,"height":11}},{"id":"221b02ca-d377-43ba-b797-a774413e4007","block_type":"box","text":"and an active ESG Overlay (as described below). The Fund’s strategy is designed to deliver, on average over a 12","page_number":221,"box":{"x":62,"y":469,"width":860,"height":12}},{"id":"83d148aa-2dfd-4693-9835-424bc23d1d26","block_type":"box","text":"month rolling period, to achieve a higher ESG score and a lower carbon intensity score than the Index (measured","page_number":221,"box":{"x":62,"y":483,"width":861,"height":11}},{"id":"e4f6f5e6-6f84-4da8-b84f-198bdfcf5035","block_type":"box","text":"using month end data), whilst also seeking to minimise the Fund’s tracking error to that Index. This means that, the","page_number":221,"box":{"x":63,"y":497,"width":860,"height":11}},{"id":"b4136da8-05b2-4c97-87a4-eab8c96c9fe1","block_type":"box","text":"portfolio is created by first removing the excluded companies from the Index universe, then either overweighting,","page_number":221,"box":{"x":62,"y":510,"width":860,"height":12}},{"id":"24b9b047-52bc-485f-8937-29560309a903","block_type":"box","text":"underweighting or excluding holdings relative to the Index based on both their ESG scores and carbon intensity scores","page_number":221,"box":{"x":63,"y":524,"width":860,"height":11}},{"id":"5ca6c8f6-c3d5-4b63-b2e3-6eb9808f6552","block_type":"box","text":"(the ESG Overlay) and potential to deliver returns similar to the Index. Individual holdings do not need to achieve a","page_number":221,"box":{"x":63,"y":537,"width":860,"height":12}},{"id":"f8f8a5fe-600e-4c91-adb5-01cfed255760","block_type":"box","text":"specific or minimum ESG score or maximum carbon intensity score to be selected for investment, and therefore the","page_number":221,"box":{"x":62,"y":551,"width":861,"height":11}},{"id":"ebac08b3-c2b3-49fd-80ff-d06e665d449b","block_type":"box","text":"Sub-Fund will hold companies that could be considered to have low ESG scores or high carbon intensity scores.","page_number":221,"box":{"x":62,"y":565,"width":831,"height":11}},{"id":"209df1c9-8843-4b1c-8a30-ef67060a8cd0","block_type":"box","text":"The Investment Manager will also seek to minimise the Sub-Fund’s tracking error to the Index. However, the ESG","page_number":221,"box":{"x":62,"y":598,"width":860,"height":11}},{"id":"b3211152-a50b-42c2-9a06-6528855f5673","block_type":"box","text":"Overlay may limit the choice of investments available to the Sub-Fund and therefore it may not perform in line (either","page_number":221,"box":{"x":62,"y":612,"width":862,"height":11}},{"id":"fffd212d-0d35-4f1d-ac6b-90fbc5c94ec6","block_type":"box","text":"positively or negatively) with the Index or other similar funds that have a broader investment policy.","page_number":221,"box":{"x":62,"y":625,"width":731,"height":12}},{"id":"94a5ea6b-8fc4-491a-bf38-678d8b7d2150","block_type":"box","text":"ESG scores assess a company’s resilience to financially material environmental, societal and governance risks, in","page_number":221,"box":{"x":63,"y":653,"width":859,"height":11}},{"id":"516b662c-aff6-4137-8c9a-6dbf8b9422e5","block_type":"box","text":"each case being risks to their financial performance relative to other companies in the same sector. Carbon intensity","page_number":221,"box":{"x":62,"y":666,"width":861,"height":12}},{"id":"a56ca47d-142a-4e65-925d-bc60651974d5","block_type":"box","text":"scores measure how carbon-intensive a company’s activities are and provides a comparable metric for assessment","page_number":221,"box":{"x":62,"y":680,"width":861,"height":11}},{"id":"67d491e5-88ca-4fd5-9589-381df5fb2e8d","block_type":"box","text":"against peers, portfolios and benchmarks.","page_number":221,"box":{"x":62,"y":694,"width":310,"height":11}},{"id":"934214ac-a3df-4233-824c-c40dfde1706d","block_type":"box","text":"The Sub-Fund’s holdings will be reviewed and, if necessary, rebalanced quarterly and/or on an ad hoc basis when","page_number":221,"box":{"x":62,"y":721,"width":860,"height":11}},{"id":"a980cfb5-623d-4cd0-86bb-0d8a66194f30","block_type":"box","text":"the Investment Manager is of the opinion that market conditions dictate, taking into account any changes to companies","page_number":221,"box":{"x":62,"y":735,"width":861,"height":11}},{"id":"9d4cd61a-36ea-4ad4-8cd0-936892289283","block_type":"box","text":"in the Index, the latest available data and market conditions.","page_number":221,"box":{"x":62,"y":749,"width":444,"height":10}},{"id":"79e3b80a-a7c8-48ec-bb60-13239defd90d","block_type":"box","text":"Further information on the ESG Overlay is set out in Appendix 4. Further information on the baseline","page_number":221,"box":{"x":63,"y":776,"width":860,"height":11}},{"id":"cab322ba-971c-4380-8cd1-53172a8031e5","block_type":"box","text":"exclusion policy is set out in Appendix 2.","page_number":221,"box":{"x":62,"y":789,"width":327,"height":12}},{"id":"9957f71e-abce-4a77-93c9-8be0424924a7","block_type":"box","text":"Performance & Risk Strategy:","page_number":221,"box":{"x":63,"y":823,"width":234,"height":11}},{"id":"1d24b83f-4bd0-4b08-8c63-45f0bc4797c0","block_type":"box","text":"The Sub-Fund’s performance is measured against the Index over a rolling 12 month period, before charges and taxes.","page_number":221,"box":{"x":62,"y":842,"width":860,"height":11}},{"id":"a77d179c-254e-41e1-91ea-584e73dc66c4","block_type":"box","text":"However, the Sub-Fund will not hold every company in the Index and may also hold investments that do not form part","page_number":221,"box":{"x":63,"y":856,"width":860,"height":11}},{"id":"14d0b304-47e0-4892-b631-876d113577c8","block_type":"box","text":"of the Index.","page_number":221,"box":{"x":62,"y":870,"width":90,"height":8}},{"id":"41a131e6-4678-4dce-9eba-d055761c9521","block_type":"box","text":"The Sub-Fund uses a “tracking error” to measure the consistency between the Sub-Fund’s returns and the returns of","page_number":221,"box":{"x":62,"y":897,"width":861,"height":11}},{"id":"39fd40e2-9380-4f1a-880f-5cc7d7974451","block_type":"box","text":"the Index. In general, the lower the tracking error, the more consistent the Sub-Fund’s returns are relative to the Index,","page_number":221,"box":{"x":62,"y":910,"width":860,"height":12}},{"id":"550c24e7-fdad-4d42-96b3-4c540160df89","block_type":"box","text":"and vice-versa.","page_number":221,"box":{"x":62,"y":924,"width":112,"height":9}},{"id":"63717500-d926-435e-bddb-471dfa394384","block_type":"box","text":"The Sub-Fund is expected to have an average yearly tracking error of between 0% to 1.00% when","page_number":221,"box":{"x":181,"y":924,"width":741,"height":11}},{"id":"a3040562-e374-4c78-be9a-20a7df6ac959","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":222,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"404abc2e-a3a2-4f32-9338-a49fcf8f9930","block_type":"box","text":"222","page_number":222,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"981dc3fb-f4d8-488d-881a-5fd6a15492a9","block_type":"box","text":"Aviva Investors: Confidential","page_number":222,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"dac6a616-d103-494e-be52-60520e3fc4f9","block_type":"box","text":"compared to the Index (excluding charges and taxes). However, there may be times when the Sub-Fund operates","page_number":222,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"a5f3e0b8-4657-4e7c-9457-dd1a7f2f26e1","block_type":"box","text":"outside of this range. The Investment Manager will review the tracking error range on a periodic basis and, if","page_number":222,"box":{"x":62,"y":66,"width":861,"height":11}},{"id":"9061a406-f7ef-42e8-b28d-d83c48afbec7","block_type":"box","text":"appropriate, may update the range by updating this Prospectus.","page_number":222,"box":{"x":62,"y":80,"width":471,"height":11}},{"id":"9a67104c-e499-4ee4-8be2-c60247458224","block_type":"box","text":"The Index comprises large and medium sized companies across emerging market countries, covering 85% of the","page_number":222,"box":{"x":62,"y":107,"width":861,"height":11}},{"id":"0a01da36-355b-4f69-a914-e11390988a41","block_type":"box","text":"free float-adjusted market capitalisation in each country. The Index has been selected as a measure for performance","page_number":222,"box":{"x":62,"y":121,"width":861,"height":11}},{"id":"6247f581-7582-498f-98de-dcf2986c38c6","block_type":"box","text":"because it is representative of the type of assets in which the Sub-Fund is likely to invest, and it is therefore an","page_number":222,"box":{"x":62,"y":134,"width":860,"height":12}},{"id":"1b59b4a2-8ddd-44ac-8089-c58a20e3ed8f","block_type":"box","text":"appropriate measure for the Sub-Fund’s performance.","page_number":222,"box":{"x":62,"y":148,"width":399,"height":11}},{"id":"aaebfd78-c93a-4b55-8f1a-7cc4b6e20847","block_type":"box","text":"To allow assessment of the Sub-Fund’s ESG outcomes, the ESG and carbon intensity scores, compared to those of","page_number":222,"box":{"x":62,"y":175,"width":861,"height":12}},{"id":"68199aea-0e6c-42bd-882e-0998a419b59d","block_type":"box","text":"the Index, will be reported to investors quarterly based on the latest 12 month rolling data.","page_number":222,"box":{"x":62,"y":189,"width":664,"height":11}},{"id":"c9509c53-b8d7-4717-bc8c-0ce8a566e4a6","block_type":"box","text":"Additional Information","page_number":222,"box":{"x":62,"y":228,"width":177,"height":9}},{"id":"ab4742cf-eeba-4623-ac33-0391fbc28225","block_type":"box","text":"Investment Manager","page_number":222,"box":{"x":118,"y":255,"width":151,"height":11}},{"id":"fd7e24cb-4d51-43d6-b951-92ed7618767b","block_type":"box","text":"Aviva Investors Global Services Limited","page_number":222,"box":{"x":352,"y":254,"width":294,"height":9}},{"id":"6a55f1cd-b643-4cd6-a975-dc8154b29833","block_type":"box","text":"Base Currency of Sub-Fund USD","page_number":222,"box":{"x":117,"y":281,"width":270,"height":11}},{"id":"13a572de-0721-4e6f-84f7-8d1ff1bb841d","block_type":"box","text":"Type of Units","page_number":222,"box":{"x":116,"y":307,"width":98,"height":11}},{"id":"d59e9a05-6ad3-4535-8b24-1fc0731bbcc3","block_type":"box","text":"Insured Pension Accumulation Units","page_number":222,"box":{"x":354,"y":307,"width":267,"height":9}},{"id":"9087026f-5d9d-4f2e-a2ce-1ca31c02e5da","block_type":"box","text":"UK Fund of Fund Accumulation Units","page_number":222,"box":{"x":353,"y":333,"width":275,"height":9}},{"id":"be916196-c122-4c3d-985d-46e375fdcbeb","block_type":"box","text":"UK Institutional Accumulation Units","page_number":222,"box":{"x":353,"y":359,"width":260,"height":9}},{"id":"504749f4-b44e-498a-b3fd-6425ae0fc51c","block_type":"box","text":"Unit Class Currency","page_number":222,"box":{"x":118,"y":385,"width":147,"height":11}},{"id":"f4fa6b94-c06b-4f6a-a8fc-8b396b5bbda6","block_type":"box","text":"Sterling","page_number":222,"box":{"x":353,"y":385,"width":55,"height":11}},{"id":"ecc57123-1746-49be-bd95-e6bd100a5f0e","block_type":"box","text":"Dealing Day","page_number":222,"box":{"x":118,"y":411,"width":89,"height":11}},{"id":"be1331bd-e2de-4a01-bc8b-21490de89a2a","block_type":"box","text":"Each Business Day","page_number":222,"box":{"x":354,"y":411,"width":143,"height":11}},{"id":"17abc7f3-fe97-4ed1-97bb-fc07b053a295","block_type":"box","text":"Deal Cut-Off Point","page_number":222,"box":{"x":118,"y":437,"width":134,"height":9}},{"id":"92a816e6-25fd-4196-a0df-7db977a8eab4","block_type":"box","text":"12.00 noon","page_number":222,"box":{"x":354,"y":438,"width":81,"height":8}},{"id":"2c6366f8-bfa6-41ce-be1a-16b0d5cfbd43","block_type":"box","text":"Valuation Point","page_number":222,"box":{"x":117,"y":464,"width":112,"height":8}},{"id":"3b146ff0-84f1-4a7e-8a44-d774fc3e1b74","block_type":"box","text":"3.00 pm","page_number":222,"box":{"x":353,"y":464,"width":59,"height":11}},{"id":"e06e8f70-05c1-41ce-84af-fd7ad972984f","block_type":"box","text":"*Minimum Investment","page_number":222,"box":{"x":117,"y":490,"width":172,"height":8}},{"id":"a1325f20-7502-42ed-adcc-a2a2fc804632","block_type":"box","text":"Insured Pension","page_number":222,"box":{"x":118,"y":516,"width":118,"height":8}},{"id":"7e96cb11-76dc-4e30-ab30-1aecdfcc20cc","block_type":"box","text":"Accumulation Units","page_number":222,"box":{"x":116,"y":529,"width":143,"height":9}},{"id":"3eff17b4-1544-45ac-bfd0-8f3def897e7c","block_type":"box","text":"UK Fund of Fund","page_number":222,"box":{"x":118,"y":549,"width":125,"height":9}},{"id":"b4584547-9484-4944-a11f-498d1cb03ddb","block_type":"box","text":"Accumulation Units, and UK","page_number":222,"box":{"x":116,"y":563,"width":209,"height":10}},{"id":"ad1acfed-d4ca-4d4d-aa3a-6d79231aab8e","block_type":"box","text":"Institutional Accumulation","page_number":222,"box":{"x":118,"y":576,"width":187,"height":9}},{"id":"365fd417-4b6e-488c-a272-267a35a516a8","block_type":"box","text":"Units","page_number":222,"box":{"x":118,"y":590,"width":36,"height":9}},{"id":"c26a785a-1580-45ac-acef-725c9a8dec5c","block_type":"box","text":"No minimum","page_number":222,"box":{"x":353,"y":516,"width":92,"height":9}},{"id":"e4f5c52f-2702-4b8a-a8f6-a696e50030e8","block_type":"box","text":"Minimum withdrawal","page_number":222,"box":{"x":117,"y":616,"width":150,"height":9}},{"id":"fef40144-56bd-44b4-9f59-8313407fcbf1","block_type":"box","text":"No minimum","page_number":222,"box":{"x":353,"y":616,"width":92,"height":9}},{"id":"635fe24c-299b-4574-ac32-c83d5ebc1231","block_type":"box","text":"Tax Criteria for investment","page_number":222,"box":{"x":116,"y":642,"width":213,"height":9}},{"id":"1b4aaeda-93df-47c5-b6c5-fc1ca001a661","block_type":"box","text":"Insured Pension","page_number":222,"box":{"x":118,"y":668,"width":118,"height":9}},{"id":"5534618e-8585-4aab-9223-f900a73db8b0","block_type":"box","text":"Accumulation Units","page_number":222,"box":{"x":116,"y":682,"width":143,"height":9}},{"id":"1d247f52-0402-4843-8491-4c03d39c2216","block_type":"box","text":"A life assurance company (i) which is resident for the","page_number":222,"box":{"x":352,"y":668,"width":404,"height":11}},{"id":"fdb64e78-e36b-431b-824c-b4251167eb20","block_type":"box","text":"purposes of tax in the UK, (ii) which holds such Units to","page_number":222,"box":{"x":353,"y":682,"width":404,"height":11}},{"id":"c74fbf60-bdf5-4e2e-bcbd-54b7c9cd2738","block_type":"box","text":"back exclusively its unit linked pension business","page_number":222,"box":{"x":353,"y":696,"width":404,"height":11}},{"id":"6dc2259a-9ab8-44ba-a9dc-adc02a810da5","block_type":"box","text":"contracts and (iii) the policyholders of which are","page_number":222,"box":{"x":353,"y":709,"width":404,"height":11}},{"id":"297e52f9-73c4-43ea-830a-856f36c1f97b","block_type":"box","text":"resident for the purposes of tax in the UK.","page_number":222,"box":{"x":353,"y":723,"width":307,"height":11}},{"id":"8cbaee28-d7bf-41b5-82d9-9a9bcd324105","block_type":"box","text":"UK Fund of Fund","page_number":222,"box":{"x":118,"y":749,"width":125,"height":9}},{"id":"02fde994-1d0a-47f8-8b3d-a0724ab24338","block_type":"box","text":"Accumulation Units","page_number":222,"box":{"x":116,"y":763,"width":143,"height":9}},{"id":"b67ea633-68d4-4064-b4a7-0d570b8bafc3","block_type":"box","text":"A sub-fund of a UK authorised Open-Ended Investment","page_number":222,"box":{"x":352,"y":749,"width":405,"height":11}},{"id":"42c03e51-2b51-4929-811f-738f29629a54","block_type":"box","text":"Company which is part of or otherwise managed by the","page_number":222,"box":{"x":353,"y":763,"width":403,"height":11}},{"id":"afef8ad9-ccc8-4866-b96a-e0394592991d","block_type":"box","text":"Aviva Group.","page_number":222,"box":{"x":352,"y":776,"width":96,"height":11}},{"id":"1a37277e-26b3-4a98-b6db-26abae4fa7a8","block_type":"box","text":"UK Institutional","page_number":222,"box":{"x":117,"y":802,"width":216,"height":9}},{"id":"d6274440-a99f-451d-943b-8bff5c352e43","block_type":"box","text":"Accumulation Units","page_number":222,"box":{"x":117,"y":816,"width":156,"height":9}},{"id":"ce15b1d8-ae47-43d2-93ae-cd063bb4f6f7","block_type":"box","text":"A company which is tax resident in the UK and is","page_number":222,"box":{"x":352,"y":803,"width":404,"height":11}},{"id":"666158ae-e6d7-4b6a-b95f-49d7b7c58a4d","block_type":"box","text":"regarded as such for the purposes of the UK’s double","page_number":222,"box":{"x":353,"y":816,"width":403,"height":11}},{"id":"ab755259-af0e-4cdb-84d0-8d4296fe8d23","block_type":"box","text":"tax treaties.","page_number":222,"box":{"x":352,"y":830,"width":85,"height":9}},{"id":"02e77381-643f-4349-ac11-4e6ff45d7caa","block_type":"box","text":"**Current Charges:","page_number":222,"box":{"x":117,"y":856,"width":149,"height":11}},{"id":"ce257d36-00aa-4df9-a527-7200aa00179c","block_type":"box","text":"Insured Pension","page_number":222,"box":{"x":118,"y":882,"width":118,"height":9}},{"id":"5ccdfd33-037d-4615-ac88-b8f068948cf8","block_type":"box","text":"Accumulation Units, UK","page_number":222,"box":{"x":116,"y":896,"width":176,"height":10}},{"id":"6dd97d84-fe02-4768-a2e6-e2d3c5988423","block_type":"box","text":"ACS management charge: Charged directly to the","page_number":222,"box":{"x":352,"y":882,"width":404,"height":11}},{"id":"2dbf8f70-540d-4d94-8546-6bc7b3e36df7","block_type":"box","text":"Unitholder","page_number":222,"box":{"x":353,"y":896,"width":75,"height":9}},{"id":"7eea945a-1761-40bf-aa3c-b02bdfd57746","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":223,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"a923bdc0-a8f2-428a-8069-5590276767e6","block_type":"box","text":"223","page_number":223,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"5bc1e581-81e9-4e5b-905c-4a4a76f000a3","block_type":"box","text":"Aviva Investors: Confidential","page_number":223,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"f2ec5af7-ce68-4ec5-bd0b-99d415a57d77","block_type":"box","text":"Institutional Accumulation","page_number":223,"box":{"x":118,"y":53,"width":187,"height":9}},{"id":"0f4788cc-13d8-45c9-9614-97a9675a4cba","block_type":"box","text":"Units","page_number":223,"box":{"x":118,"y":67,"width":36,"height":9}},{"id":"74891720-6ff8-48aa-ac52-fc25af03bd1d","block_type":"box","text":"UK Fund of Fund","page_number":223,"box":{"x":118,"y":106,"width":125,"height":9}},{"id":"9b64cff9-b651-4db2-9454-40029c2129ea","block_type":"box","text":"Accumulation Units","page_number":223,"box":{"x":116,"y":120,"width":143,"height":8}},{"id":"2cebf6b7-714c-4673-8c89-ecd1e8ee3406","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":223,"box":{"x":352,"y":53,"width":404,"height":11}},{"id":"11d6af39-d9a2-4a79-a2eb-0b72fcfa0e71","block_type":"box","text":"property","page_number":223,"box":{"x":353,"y":67,"width":60,"height":11}},{"id":"59734634-ae0c-4802-8fcb-7312b2af6fc5","block_type":"box","text":"ACS management charge: Deducted from Scheme","page_number":223,"box":{"x":352,"y":86,"width":404,"height":11}},{"id":"ae201145-797e-47f2-9beb-a6364523c89f","block_type":"box","text":"Property of FoF Units.","page_number":223,"box":{"x":354,"y":100,"width":161,"height":11}},{"id":"962abe92-ecf9-4ba7-81ef-b41ee18d106c","block_type":"box","text":"Administration Charge: Deducted from Scheme","page_number":223,"box":{"x":352,"y":119,"width":404,"height":12}},{"id":"aa0bafa9-dcf9-477c-b474-72f304fa8038","block_type":"box","text":"Property.","page_number":223,"box":{"x":354,"y":133,"width":65,"height":11}},{"id":"a7180be7-fc24-4948-8f7b-6eba3b4b2f44","block_type":"box","text":"The ACS management charge deducted from Scheme","page_number":223,"box":{"x":352,"y":153,"width":404,"height":11}},{"id":"1bd5ce72-94c5-4f58-917d-e05117ee4408","block_type":"box","text":"Property shall be reduced by an amount equal to the","page_number":223,"box":{"x":354,"y":167,"width":403,"height":11}},{"id":"424a8f54-147f-4508-b860-bf6d045ecc24","block_type":"box","text":"Administration Charge deducted from the Scheme","page_number":223,"box":{"x":352,"y":180,"width":404,"height":11}},{"id":"aec8843b-257f-4e4f-bbf2-22259ce73f00","block_type":"box","text":"Property of that Sub-Fund and Unit Class in the","page_number":223,"box":{"x":354,"y":194,"width":402,"height":11}},{"id":"760dd722-2d42-4f79-8b33-58cd744c16c0","block_type":"box","text":"relevant period.","page_number":223,"box":{"x":353,"y":208,"width":113,"height":11}},{"id":"0bdfd87c-2356-4b28-9b08-cb7e0d45bc5d","block_type":"box","text":"Accounting Dates","page_number":223,"box":{"x":117,"y":234,"width":141,"height":11}},{"id":"ae6f4006-b4dc-4a17-a4e1-16ffe52c39e8","block_type":"box","text":"Annual Accounting Date","page_number":223,"box":{"x":116,"y":260,"width":180,"height":11}},{"id":"35a9de00-484c-4843-9950-ded63d48170d","block_type":"box","text":"31 December","page_number":223,"box":{"x":353,"y":260,"width":100,"height":9}},{"id":"4ef33a1f-44a2-482e-8e3c-04052d6647e6","block_type":"box","text":"First Accounting Date","page_number":223,"box":{"x":118,"y":286,"width":158,"height":11}},{"id":"2ca5eec3-3e81-4338-b853-14c6fe837b0e","block_type":"box","text":"31 December 2023","page_number":223,"box":{"x":353,"y":286,"width":141,"height":9}},{"id":"4038c693-1537-40ca-8574-3dc856a590f1","block_type":"box","text":"Annual Income Allocation","page_number":223,"box":{"x":116,"y":312,"width":188,"height":9}},{"id":"8687c756-e2ea-4a4c-b065-256203009162","block_type":"box","text":"Date","page_number":223,"box":{"x":118,"y":326,"width":33,"height":8}},{"id":"40e5f719-a379-4f39-a9a2-fcadbdaf72d4","block_type":"box","text":"On or before 28 /29 February","page_number":223,"box":{"x":353,"y":312,"width":217,"height":11}},{"id":"4734ba27-5ddb-4076-bedb-d64d21c37cac","block_type":"box","text":"Half Yearly Accounting Date 30 June","page_number":223,"box":{"x":118,"y":352,"width":293,"height":11}},{"id":"06a134b8-6d10-4b7c-9bb3-add25798964c","block_type":"box","text":"The annual report for the Sub-Fund will be published on, or shortly after, 30 April each year and half-yearly report for","page_number":223,"box":{"x":62,"y":378,"width":861,"height":11}},{"id":"f8a1a6b8-d863-4b1e-a8b0-9cf20ec80554","block_type":"box","text":"the Sub-Fund on, or shortly after, 31 August each year.","page_number":223,"box":{"x":62,"y":392,"width":408,"height":11}},{"id":"450c9c6e-bc1a-420e-8f44-70e3f40b400e","block_type":"box","text":"* Further details are given in section 19 titled “Minimum Investment” in this Prospectus.","page_number":223,"box":{"x":62,"y":411,"width":642,"height":11}},{"id":"b060ea37-4b3d-483b-a183-76175a1e8c28","block_type":"box","text":"** Please note these are not the only charges applicable. Further details are given in section 28 titled \"Charges\" in","page_number":223,"box":{"x":62,"y":431,"width":860,"height":11}},{"id":"b30d979c-fc5d-4973-b593-67fc22d95e14","block_type":"box","text":"this Prospectus.","page_number":223,"box":{"x":62,"y":444,"width":117,"height":11}},{"id":"aa2a9fae-f05b-4814-adf6-221510ca5232","block_type":"box","text":"□","page_number":223,"box":{"x":62,"y":460,"width":5,"height":3}},{"id":"871a8927-f610-407e-a231-80d0750cdb83","block_type":"box","text":"Please see “Index Disclaimers” section above.","page_number":223,"box":{"x":74,"y":458,"width":342,"height":9}},{"id":"61094914-1dab-46dd-a86f-aec817c15327","block_type":"box","text":"□","page_number":223,"box":{"x":62,"y":487,"width":5,"height":3}},{"id":"673d6997-f7f8-4a26-ac82-725b79bf1430","block_type":"box","text":"□","page_number":223,"box":{"x":69,"y":487,"width":5,"height":3}},{"id":"a3a820eb-384c-4b6b-88e3-cb70b7513795","block_type":"box","text":"Our ESG assessments and exclusions are reliant on: (i) data provided by third party data providers; and (ii) AI and","page_number":223,"box":{"x":75,"y":485,"width":847,"height":12}},{"id":"7f47976a-4925-4541-b4de-02816a1bd7a3","block_type":"box","text":"third-party proprietary models. Data from these third-party data providers or used in our ESG models may be","page_number":223,"box":{"x":62,"y":499,"width":861,"height":11}},{"id":"1c51b8bd-03a7-483e-a0fe-d8987213675d","block_type":"box","text":"incomplete, inaccurate or unavailable. As a result, there is a risk that the Investment Manager may, from time to time,","page_number":223,"box":{"x":62,"y":513,"width":860,"height":11}},{"id":"d4a06825-56d6-45b8-a3a2-e8abdbc3c463","block_type":"box","text":"incorrectly assess an asset. There is also a risk that the Investment Manager, or the third-party data providers on","page_number":223,"box":{"x":62,"y":526,"width":860,"height":12}},{"id":"fe7062b4-e8c5-4fcd-8645-6a39968cc0e0","block_type":"box","text":"which we may depend, may not interpret or apply the relevant ESG characteristics correctly. Our proprietary ESG tool","page_number":223,"box":{"x":62,"y":540,"width":860,"height":11}},{"id":"8363278c-8e11-4bd2-b9db-f80fc8781d7f","block_type":"box","text":"emphasises the ESG factors which we determine are most closely correlated to potential financial outperformance.","page_number":223,"box":{"x":62,"y":554,"width":860,"height":11}},{"id":"e2899c64-a73f-4220-9f31-b2a4b0d4d8a8","block_type":"box","text":"Accordingly, it should not be used as a comprehensive measure of the sustainability risks (or the overall ESG","page_number":223,"box":{"x":62,"y":567,"width":860,"height":12}},{"id":"0733b11c-59b4-40d3-85d0-6c4f71b3a5b4","block_type":"box","text":"quality/credentials) of a Sub-Fund.","page_number":223,"box":{"x":62,"y":581,"width":254,"height":11}},{"id":"05bfa206-08fc-4be0-82a4-7b274d38ceff","block_type":"box","text":"Securities Financing and other Transactions:","page_number":223,"box":{"x":62,"y":626,"width":358,"height":11}},{"id":"09dcd38e-54c1-4cd8-926e-d5e14834144e","block_type":"box","text":"The types of assets which may be subject to TRS are limited to Equity Securities.","page_number":223,"box":{"x":62,"y":646,"width":601,"height":11}},{"id":"421f3432-5345-4380-af1d-94946c447722","block_type":"box","text":"The assets which may be subject to securities lending or repo transactions will be limited to Equity Securities.","page_number":223,"box":{"x":62,"y":685,"width":809,"height":11}},{"id":"aeb809d4-f6c4-4a4e-baa2-193a28618ccb","block_type":"box","text":"Given that the Sub-Fund’s assets cannot be described as being ‘subject to’ TRS, the maximum and expected","page_number":223,"box":{"x":62,"y":724,"width":860,"height":11}},{"id":"64750eed-dca0-41ad-b88c-e8274aa25bdb","block_type":"box","text":"percentages of TRS are given as the gross aggregate notional of TRS as a percentage of the NAV.","page_number":223,"box":{"x":62,"y":738,"width":734,"height":11}},{"id":"cd06124e-1848-4873-babb-7127017febc0","block_type":"box","text":"The maximum proportion of the assets of the Fund which may be subject to TRS, securities lending or repo","page_number":223,"box":{"x":62,"y":757,"width":794,"height":12}},{"id":"f4995c99-2a6a-423a-880c-09ef78d4e56b","block_type":"box","text":"transactions is as follows:","page_number":223,"box":{"x":62,"y":773,"width":188,"height":9}},{"id":"c982e6d4-7df9-408c-b2f4-0aced61900c4","block_type":"box","text":"Total Return Swaps","page_number":223,"box":{"x":71,"y":809,"width":133,"height":11}},{"id":"3bb890b1-87a9-4c1a-b479-a4e0d946d128","block_type":"box","text":"20%","page_number":223,"box":{"x":460,"y":810,"width":28,"height":8}},{"id":"1e2cfd90-8bfa-4361-8b04-e5c3a5c66699","block_type":"box","text":"Securities Lending","page_number":223,"box":{"x":72,"y":831,"width":125,"height":11}},{"id":"2e20c595-c288-4633-b1cc-07603af4a471","block_type":"box","text":"50%","page_number":223,"box":{"x":460,"y":831,"width":28,"height":9}},{"id":"4016581c-0994-4349-868d-bb10d0ecfb23","block_type":"box","text":"Repo Transactions","page_number":223,"box":{"x":71,"y":853,"width":125,"height":11}},{"id":"93eca00a-8888-4f45-b9a1-7b04d2dae6f5","block_type":"box","text":"50%","page_number":223,"box":{"x":460,"y":853,"width":28,"height":9}},{"id":"c38b046f-b472-4679-92bf-dab5296433bd","block_type":"box","text":"The demand to borrow securities is a significant driver for the amount that is actually lent from a fund at a given","page_number":223,"box":{"x":62,"y":895,"width":823,"height":11}},{"id":"906c0e45-040a-4330-9e85-4403dcec0b5e","block_type":"box","text":"time. The expected proportion of the assets of the Sub-Fund which may be subject to TRS, securities lending or","page_number":223,"box":{"x":62,"y":910,"width":828,"height":12}},{"id":"2b21977b-50c9-4d74-bab9-4542941b175d","block_type":"box","text":"repo transactions is as follows:","page_number":223,"box":{"x":63,"y":926,"width":226,"height":11}},{"id":"760039a0-d0ad-482a-acff-be94279027c1","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":224,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"9e971a6e-9d6c-4569-826c-f0c26d72b996","block_type":"box","text":"224","page_number":224,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"50196a37-0d19-48e3-bc84-704d095bb1a5","block_type":"box","text":"Aviva Investors: Confidential","page_number":224,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"a4aa60e9-4ca8-4b25-a972-810924153997","block_type":"box","text":"Total Return Swaps","page_number":224,"box":{"x":71,"y":61,"width":133,"height":11}},{"id":"dc51c9ae-c483-494c-b2a6-5cd76a2ac771","block_type":"box","text":"15%","page_number":224,"box":{"x":461,"y":61,"width":27,"height":9}},{"id":"1ce56d7a-4a1b-4f4d-bb55-365eaab6403a","block_type":"box","text":"Securities Lending","page_number":224,"box":{"x":72,"y":83,"width":125,"height":11}},{"id":"aa2a4ac2-5087-4647-9c85-3ff2d1372119","block_type":"box","text":"15%","page_number":224,"box":{"x":461,"y":83,"width":27,"height":9}},{"id":"79354c46-0e5e-43c9-8fa3-53870e71f738","block_type":"box","text":"Repo Transactions","page_number":224,"box":{"x":71,"y":105,"width":125,"height":11}},{"id":"ab0dd65c-3925-4ffa-af21-4dc144e7cb46","block_type":"box","text":"7","page_number":224,"box":{"x":459,"y":106,"width":8,"height":7}},{"id":"603fc029-05e5-4010-b71a-cda6fc9afc99","block_type":"box","text":".","page_number":224,"box":{"x":469,"y":112,"width":2,"height":1}},{"id":"51cf9bdc-988b-4967-be93-6938d89e8611","block_type":"box","text":"5%","page_number":224,"box":{"x":472,"y":105,"width":20,"height":9}},{"id":"96a39a79-fe48-4eec-b573-697965bfd6dd","block_type":"box","text":"The expected proportion of AUM subject to TRS, securities lending or repo transactions is indicative only and,","page_number":224,"box":{"x":62,"y":147,"width":812,"height":11}},{"id":"6cc273c5-fdd6-48c0-b67f-61c57c9f14a9","block_type":"box","text":"depending on market conditions and the strategies employed, the actual exposure may be outside of that range at","page_number":224,"box":{"x":62,"y":162,"width":845,"height":12}},{"id":"eb94292b-4e8a-4cdf-a148-647a3d3ee5f9","block_type":"box","text":"any given point in time. There may be times when there the proportion of AUM subject to TRS, securities lending or","page_number":224,"box":{"x":62,"y":178,"width":854,"height":11}},{"id":"b9f9c932-519e-4b26-aa49-717796665b65","block_type":"box","text":"repo transactions is zero.","page_number":224,"box":{"x":63,"y":194,"width":184,"height":11}},{"id":"c6993808-bc22-424c-aa82-8e55c60698ff","block_type":"box","text":"Leverage","page_number":224,"box":{"x":63,"y":241,"width":72,"height":11}},{"id":"5de9d170-6d16-4dbd-9c54-89e3d18ab944","block_type":"box","text":"Leverage is limited to that derived from investment in derivatives for the purpose of risk reduction or efficient portfolio","page_number":224,"box":{"x":63,"y":261,"width":860,"height":11}},{"id":"f69ef82d-70f0-4480-a65d-62740f02db3e","block_type":"box","text":"management.","page_number":224,"box":{"x":62,"y":275,"width":101,"height":10}},{"id":"d88658a1-e988-4f10-b630-486a02112ef2","block_type":"box","text":"The overall exposure from combining the derivative positions, securities and other assets held within the Sub-Fund","page_number":224,"box":{"x":62,"y":307,"width":860,"height":12}},{"id":"fc42edc0-49d6-4a01-b539-e57fccc3a1f6","block_type":"box","text":"shall be such as to fall within the asset allocation guidelines and investment restrictions.","page_number":224,"box":{"x":62,"y":321,"width":649,"height":11}},{"id":"c9e98987-0f53-40ef-8206-73878943494f","block_type":"box","text":"All transactions in derivatives are fully covered and are not used as a means of gearing the Sub-Fund.","page_number":224,"box":{"x":62,"y":348,"width":755,"height":12}},{"id":"b188dd46-7e6a-469d-b72b-a930b0f189a5","block_type":"box","text":"Permitted derivatives","page_number":224,"box":{"x":72,"y":392,"width":168,"height":9}},{"id":"2e0a4e1c-aae9-4831-b854-6ee8b39cb278","block_type":"box","text":"Permitted?","page_number":224,"box":{"x":383,"y":392,"width":85,"height":9}},{"id":"5d123a16-9a3c-44c9-8c2e-40e5ba02139c","block_type":"box","text":"Prohibited?","page_number":224,"box":{"x":489,"y":392,"width":91,"height":9}},{"id":"09b09987-b52a-4754-90c5-45599e723f78","block_type":"box","text":"Equity index futures","page_number":224,"box":{"x":72,"y":410,"width":160,"height":12}},{"id":"4a9030dd-d21c-493a-ae99-0c49701bd69d","block_type":"box","text":"√","page_number":224,"box":{"x":422,"y":408,"width":8,"height":12}},{"id":"e3cc2094-a1f5-4f22-9f8c-3a93bfba6397","block_type":"box","text":"Government bond futures","page_number":224,"box":{"x":72,"y":429,"width":204,"height":9}},{"id":"862a7b01-80bc-44c9-918c-8856fbf54309","block_type":"box","text":"√","page_number":224,"box":{"x":530,"y":427,"width":9,"height":11}},{"id":"df8af0fa-7e68-4242-95b6-d0783c826af4","block_type":"box","text":"Equity index options","page_number":224,"box":{"x":72,"y":447,"width":163,"height":11}},{"id":"2d52c296-e9ba-40fc-91d7-e128b84975fb","block_type":"box","text":"√","page_number":224,"box":{"x":530,"y":445,"width":9,"height":11}},{"id":"89ef9a4f-b12f-4bf6-a37c-7d2b5607d8cf","block_type":"box","text":"Forward foreign exchange","page_number":224,"box":{"x":72,"y":466,"width":209,"height":11}},{"id":"c52229ad-97b9-4025-9f9d-335d41fd2b4a","block_type":"box","text":"√","page_number":224,"box":{"x":422,"y":463,"width":8,"height":12}},{"id":"f25ed2e9-71e2-4666-9dbc-de00d9f04151","block_type":"box","text":"Index credit default swaps","page_number":224,"box":{"x":72,"y":484,"width":208,"height":11}},{"id":"91ab6df0-216e-4b94-aace-58bd7177ab6f","block_type":"box","text":"√","page_number":224,"box":{"x":530,"y":482,"width":9,"height":11}},{"id":"abf55926-fbaf-4571-b99c-6f37440ea625","block_type":"box","text":"Interest rate swaps","page_number":224,"box":{"x":72,"y":503,"width":150,"height":11}},{"id":"5226ddd5-46fa-4f47-a72d-26608f1699fd","block_type":"box","text":"√","page_number":224,"box":{"x":530,"y":500,"width":9,"height":12}},{"id":"d2e4cc38-ca1f-4d3e-af09-61f130211072","block_type":"box","text":"OTC equity options","page_number":224,"box":{"x":72,"y":521,"width":153,"height":11}},{"id":"f221095a-cbfa-497f-8d0b-7fffcfeca6b1","block_type":"box","text":"√","page_number":224,"box":{"x":530,"y":519,"width":9,"height":11}},{"id":"3fc48fa6-6d45-42f4-9183-9512a1ea08a1","block_type":"box","text":"Inflation swaps","page_number":224,"box":{"x":72,"y":539,"width":119,"height":11}},{"id":"f5a0875c-5ad5-459f-a084-a17dc5ce401e","block_type":"box","text":"√","page_number":224,"box":{"x":530,"y":537,"width":9,"height":11}},{"id":"82463bcd-1122-46be-b3a0-b6c3018ff963","block_type":"box","text":"Cross currency swaps","page_number":224,"box":{"x":72,"y":558,"width":177,"height":11}},{"id":"4ecac9d5-4c13-4f18-9526-a7a835c18ee8","block_type":"box","text":"√","page_number":224,"box":{"x":530,"y":555,"width":9,"height":12}},{"id":"d017b0f1-0922-4233-bc23-90e1ce1516be","block_type":"box","text":"Equity TRS - single name","page_number":224,"box":{"x":72,"y":576,"width":200,"height":11}},{"id":"fcbcea5b-b490-4e61-8e7a-50de6b6e7604","block_type":"box","text":"√","page_number":224,"box":{"x":422,"y":574,"width":8,"height":11}},{"id":"3822bf18-8afe-4e16-afff-bdecdf50f3f8","block_type":"box","text":"Equity TRS - index","page_number":224,"box":{"x":72,"y":594,"width":147,"height":12}},{"id":"77889f91-e6aa-4798-a9e6-4ae1b1fbfef4","block_type":"box","text":"√","page_number":224,"box":{"x":422,"y":592,"width":8,"height":12}},{"id":"da2bb1bc-9d8c-4603-a637-a96b7e513845","block_type":"box","text":"Other","page_number":224,"box":{"x":72,"y":613,"width":43,"height":9}},{"id":"c2e1c73e-072b-49ec-a2ac-878299d49437","block_type":"box","text":"√","page_number":224,"box":{"x":530,"y":611,"width":9,"height":11}},{"id":"3c294634-303b-4771-905d-3343dd3e95e7","block_type":"box","text":"Listed derivatives must be traded on an exchange included within the Eligible Derivative Markets list (see Schedule","page_number":224,"box":{"x":63,"y":643,"width":860,"height":11}},{"id":"75d2e334-6103-405b-9d23-11a1a363db0a","block_type":"box","text":"2)","page_number":224,"box":{"x":62,"y":657,"width":13,"height":11}},{"id":"a4390da9-fa9c-424f-860f-6e838fbc93c2","block_type":"box","text":"Leverage Limits","page_number":224,"box":{"x":63,"y":684,"width":128,"height":11}},{"id":"2bc6c6bb-8761-435a-bfad-2d640d714920","block_type":"box","text":"(exposure calculated in accordance with the methodologies expressly set out in the UK AIFM","page_number":224,"box":{"x":200,"y":684,"width":722,"height":11}},{"id":"0ad2bbc5-858c-47f8-bec7-4b7ca4c9a987","block_type":"box","text":"Regime):","page_number":224,"box":{"x":63,"y":697,"width":65,"height":12}},{"id":"8b519510-49e1-44b5-98df-d39cbb07dafe","block_type":"box","text":"The Sub-Fund is generally expected to be leveraged as follows:","page_number":224,"box":{"x":62,"y":725,"width":471,"height":11}},{"id":"226e42c4-71bc-4d92-803c-8b30a7368016","block_type":"box","text":"","page_number":224,"box":{"x":62,"y":758,"width":6,"height":4}},{"id":"3875583a-b80e-4119-856a-75e296d15e8f","block_type":"box","text":"Gross Method: Up to 1.25:1","page_number":224,"box":{"x":92,"y":755,"width":203,"height":11}},{"id":"fd1d8fdc-851e-4687-bf66-2d76e3b553ef","block_type":"box","text":"","page_number":224,"box":{"x":62,"y":775,"width":6,"height":4}},{"id":"2ade8cfc-1834-4a69-b9d2-04bcc3793cee","block_type":"box","text":"Commitment: Up to 1.25:1","page_number":224,"box":{"x":92,"y":771,"width":192,"height":12}},{"id":"15eb8cea-2cdf-4f78-8930-6a845facd761","block_type":"box","text":"The Sub-Fund may, however, have higher levels of leverage, including in atypical and volatile market conditions, in","page_number":224,"box":{"x":62,"y":799,"width":860,"height":11}},{"id":"46e56a64-177f-402a-a9e1-0312f5ff0dec","block_type":"box","text":"which case leverage will not exceed the following:","page_number":224,"box":{"x":62,"y":813,"width":368,"height":11}},{"id":"44cacd73-96dd-423f-a521-163151fa5156","block_type":"box","text":"","page_number":224,"box":{"x":62,"y":844,"width":6,"height":4}},{"id":"8f457cca-a280-4eac-bcbf-c890fc661efb","block_type":"box","text":"Gross Method: Up to 2:1","page_number":224,"box":{"x":92,"y":841,"width":179,"height":11}},{"id":"a257c771-19ea-4b96-ab48-03e59f360058","block_type":"box","text":"","page_number":224,"box":{"x":62,"y":860,"width":6,"height":5}},{"id":"73056624-4aa2-4edd-be8e-2b2bed57ae58","block_type":"box","text":"Commitment: Up to 1.5:1","page_number":224,"box":{"x":92,"y":857,"width":183,"height":11}},{"id":"a65fd84b-8308-4821-8eb0-235b48081597","block_type":"box","text":"Specific Risks","page_number":224,"box":{"x":62,"y":885,"width":113,"height":11}},{"id":"3032e7b7-76e8-4b7f-8dd8-006577ba95d6","block_type":"box","text":"(see section 26(c) for a description of the relevant risk factors):","page_number":224,"box":{"x":181,"y":885,"width":462,"height":11}},{"id":"3fc82ffa-9de5-4223-a383-401a0722ed1e","block_type":"box","text":"","page_number":224,"box":{"x":62,"y":909,"width":6,"height":4}},{"id":"202c4632-b0c9-468d-b771-0acd802b6fc5","block_type":"box","text":"Single Market","page_number":224,"box":{"x":92,"y":905,"width":102,"height":12}},{"id":"e07ef94a-721d-4b50-a3a7-b315cecd4e1d","block_type":"box","text":"","page_number":224,"box":{"x":62,"y":923,"width":6,"height":4}},{"id":"20545ed5-18b5-4f7d-bacf-67bdbccf88fd","block_type":"box","text":"Equity Securities","page_number":224,"box":{"x":93,"y":920,"width":123,"height":11}},{"id":"6df91aa7-a44a-4509-9838-cfa322bdb236","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":225,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"39baca5a-9434-4486-be9a-969c71cb0c0b","block_type":"box","text":"225","page_number":225,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"665412ca-bd38-4e50-8f82-532ca034de12","block_type":"box","text":"Aviva Investors: Confidential","page_number":225,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"98f0b604-9cca-4ac9-b434-c1206ba90fc1","block_type":"box","text":"","page_number":225,"box":{"x":62,"y":57,"width":6,"height":4}},{"id":"81363563-f195-43a7-a7c2-2950f08e0544","block_type":"box","text":"Emerging Markets","page_number":225,"box":{"x":93,"y":54,"width":134,"height":11}},{"id":"1681a562-e94a-4623-aced-53c75fec5444","block_type":"box","text":"","page_number":225,"box":{"x":62,"y":71,"width":6,"height":4}},{"id":"86a9dcae-f6b7-440a-aed7-453aae9af2da","block_type":"box","text":"Benchmark Indices","page_number":225,"box":{"x":93,"y":68,"width":140,"height":9}},{"id":"67ba17ce-9045-49de-84a6-68b493e92fb0","block_type":"box","text":"","page_number":225,"box":{"x":62,"y":85,"width":6,"height":5}},{"id":"1d50ae2a-2253-4624-8d13-068495685c6b","block_type":"box","text":"Index-Related Risk","page_number":225,"box":{"x":93,"y":82,"width":140,"height":9}},{"id":"b9f4fb38-88de-4c96-b938-be1272ec1001","block_type":"box","text":"","page_number":225,"box":{"x":62,"y":100,"width":6,"height":4}},{"id":"1cb6b14f-11f2-4b7c-a4f0-df3ddc440295","block_type":"box","text":"Tracking Error","page_number":225,"box":{"x":92,"y":97,"width":106,"height":11}},{"id":"8d931c23-b5fc-45c1-b671-c702efaeb233","block_type":"box","text":"","page_number":225,"box":{"x":62,"y":114,"width":6,"height":5}},{"id":"5ef54ffc-eeb3-4943-9f4e-0fd5e66172e9","block_type":"box","text":"Stock Connect Risk","page_number":225,"box":{"x":92,"y":111,"width":146,"height":9}},{"id":"d4192491-0b13-4ee2-ac25-32d0249359f8","block_type":"box","text":"","page_number":225,"box":{"x":62,"y":129,"width":6,"height":4}},{"id":"caf878e6-b088-451b-8b8e-38ebd412bb38","block_type":"box","text":"Concentration","page_number":225,"box":{"x":92,"y":126,"width":103,"height":9}},{"id":"2cfd0da9-b56f-47b6-812d-c27d44eaa4de","block_type":"box","text":"Past Performance – Aviva Investors Emerging Market Equity Core Fund","page_number":225,"box":{"x":72,"y":185,"width":569,"height":11}},{"id":"560c888a-dd03-4760-b9ba-3133d5846246","block_type":"box","text":"% Growth","page_number":225,"box":{"x":71,"y":205,"width":77,"height":8}},{"id":"2cc4f1d1-782a-48e7-b137-0244f0a24b81","block_type":"box","text":"1/1/2024 to","page_number":225,"box":{"x":273,"y":230,"width":93,"height":8}},{"id":"bca0c859-c7f3-4dfa-9418-f925c28ac2c3","block_type":"box","text":"31/12/2024","page_number":225,"box":{"x":272,"y":243,"width":75,"height":8}},{"id":"81937a30-e599-4c45-a8bb-bf2a5b522455","block_type":"box","text":"1/1/2023 to","page_number":225,"box":{"x":385,"y":230,"width":94,"height":8}},{"id":"cbb95e5d-b16f-4de0-9bb4-0e9fa19ebea8","block_type":"box","text":"31/12/2023","page_number":225,"box":{"x":384,"y":243,"width":75,"height":8}},{"id":"020ec2fa-af82-42cd-9f4f-801ec19a5c03","block_type":"box","text":"1/1/2022 to","page_number":225,"box":{"x":498,"y":230,"width":104,"height":8}},{"id":"e1564da2-c63b-4048-8bd0-fe0a81f682f3","block_type":"box","text":"31/12/2022","page_number":225,"box":{"x":498,"y":243,"width":75,"height":8}},{"id":"4b30a39b-c28c-4287-8b99-3c50fb1fe649","block_type":"box","text":"1/1/2021 to","page_number":225,"box":{"x":621,"y":230,"width":103,"height":8}},{"id":"c5397a14-77ae-4329-a1d9-daa4625278ee","block_type":"box","text":"31/12/2021","page_number":225,"box":{"x":621,"y":243,"width":72,"height":8}},{"id":"43b58cb8-aabe-4994-aed7-5694360c30bd","block_type":"box","text":"1/1/2020 to","page_number":225,"box":{"x":744,"y":230,"width":94,"height":8}},{"id":"6c494876-99b2-4be4-bbf7-40ceb8a65428","block_type":"box","text":"31/12/2020","page_number":225,"box":{"x":743,"y":243,"width":75,"height":8}},{"id":"b3313de1-3480-4648-ba08-a80d087d8078","block_type":"box","text":"UK Corporate Income","page_number":225,"box":{"x":72,"y":267,"width":181,"height":10}},{"id":"3dff1919-9bd8-4c38-885a-aa22cadd0490","block_type":"box","text":"Distribution Units (%)","page_number":225,"box":{"x":72,"y":280,"width":140,"height":10}},{"id":"0b7c3150-c932-410d-9eb9-f44ff12c812f","block_type":"box","text":"Insured Pension Income","page_number":225,"box":{"x":72,"y":305,"width":181,"height":7}},{"id":"7b5ca5d5-c018-4804-a760-efdd396ce077","block_type":"box","text":"Distribution Units (%)","page_number":225,"box":{"x":72,"y":317,"width":140,"height":10}},{"id":"7ab7ff31-c0ab-4ae8-9017-21ce4daf479b","block_type":"box","text":"UK Institutional","page_number":225,"box":{"x":72,"y":342,"width":181,"height":8}},{"id":"0bb190c0-b4f9-446d-90f7-8b6aa910fc24","block_type":"box","text":"Accumulation Units (%)","page_number":225,"box":{"x":71,"y":354,"width":156,"height":10}},{"id":"7b4f80cb-21c8-4280-89c4-e3d90b630858","block_type":"box","text":"8.14","page_number":225,"box":{"x":273,"y":342,"width":28,"height":8}},{"id":"d0b999cc-8591-419d-ae25-9bb5aae9c3a5","block_type":"box","text":"N/A","page_number":225,"box":{"x":385,"y":342,"width":24,"height":8}},{"id":"1145c5f0-6a27-4a12-8181-3e86b83baebc","block_type":"box","text":"N/A","page_number":225,"box":{"x":499,"y":342,"width":23,"height":8}},{"id":"987ec7cc-6797-41ca-a31d-b6fa572686e5","block_type":"box","text":"N/A","page_number":225,"box":{"x":621,"y":342,"width":24,"height":8}},{"id":"dbd600c8-798f-4721-b36b-6eb76c75bbd7","block_type":"box","text":"N/A","page_number":225,"box":{"x":744,"y":342,"width":24,"height":8}},{"id":"196906d9-919d-4e88-86d0-5d2f88e67fea","block_type":"box","text":"ACS (Fund of Fund)","page_number":225,"box":{"x":71,"y":379,"width":182,"height":10}},{"id":"4b2dc10a-610c-4831-bdbd-674b3b2de952","block_type":"box","text":"Accumulation Units Class 1","page_number":225,"box":{"x":71,"y":391,"width":180,"height":8}},{"id":"8a0fe3a3-6995-4106-a74e-723ab9035f4a","block_type":"box","text":"(%)","page_number":225,"box":{"x":72,"y":403,"width":21,"height":10}},{"id":"e9895acc-bbae-405e-827a-0be93613b10a","block_type":"box","text":"ACS (Fund of Fund)","page_number":225,"box":{"x":71,"y":428,"width":182,"height":10}},{"id":"4b935996-8cc0-420d-96d9-12ae51fa8ee4","block_type":"box","text":"Accumulation Units Class 2","page_number":225,"box":{"x":71,"y":440,"width":182,"height":8}},{"id":"2d007e5c-e5d5-4b66-b18f-817e9a9b42ac","block_type":"box","text":"(%)","page_number":225,"box":{"x":72,"y":453,"width":21,"height":10}},{"id":"3a5bcd2e-4abf-4d25-9f84-176cfac61414","block_type":"box","text":"UK Corporate","page_number":225,"box":{"x":72,"y":477,"width":181,"height":10}},{"id":"bcba8b81-5133-422e-9769-26747960a01f","block_type":"box","text":"Accumulation Units (%)","page_number":225,"box":{"x":71,"y":490,"width":156,"height":10}},{"id":"3a9ac001-f82d-4049-b573-c129b342e115","block_type":"box","text":"Insured Pension","page_number":225,"box":{"x":72,"y":514,"width":181,"height":8}},{"id":"76cac24b-4d50-4f7e-a701-ec51f78b00b7","block_type":"box","text":"Accumulation Units (%)","page_number":225,"box":{"x":71,"y":527,"width":156,"height":10}},{"id":"1ae9541d-6ad1-4126-85d8-71c3a867ee41","block_type":"box","text":"9.46","page_number":225,"box":{"x":273,"y":515,"width":28,"height":7}},{"id":"6ca38d65-b2d7-4e79-a882-df784d622ee4","block_type":"box","text":"N/A","page_number":225,"box":{"x":385,"y":514,"width":24,"height":8}},{"id":"40112b88-6d96-46e3-9316-206a943d7f83","block_type":"box","text":"N/A","page_number":225,"box":{"x":499,"y":514,"width":23,"height":8}},{"id":"989ec25f-fc8f-4a5e-8e82-babd0caa60ee","block_type":"box","text":"N/A","page_number":225,"box":{"x":621,"y":514,"width":24,"height":8}},{"id":"1932bd7b-84c4-4102-a42c-34b94e90c954","block_type":"box","text":"N/A","page_number":225,"box":{"x":744,"y":514,"width":24,"height":8}},{"id":"629b074e-1fec-408d-bf03-a01a600b0ddf","block_type":"box","text":"UK Fund of Fund","page_number":225,"box":{"x":72,"y":551,"width":181,"height":8}},{"id":"1b03f42d-b865-4532-919f-f9d4aef6bc28","block_type":"box","text":"Accumulation Units (%)","page_number":225,"box":{"x":71,"y":564,"width":156,"height":10}},{"id":"bfe7249d-fad4-485b-96e1-a67b05c20416","block_type":"box","text":"9.02","page_number":225,"box":{"x":273,"y":552,"width":28,"height":8}},{"id":"29782692-23ab-4601-a4ca-9e57110bb042","block_type":"box","text":"N/A","page_number":225,"box":{"x":385,"y":551,"width":24,"height":9}},{"id":"ea20b744-2365-490b-9d4c-6649351a5bc2","block_type":"box","text":"N/A","page_number":225,"box":{"x":499,"y":551,"width":23,"height":9}},{"id":"1eef861f-99cc-4886-bbb4-c6d7f7944c09","block_type":"box","text":"N/A","page_number":225,"box":{"x":621,"y":551,"width":24,"height":9}},{"id":"7a2b5c4a-a305-4ecf-9101-8be156afac5a","block_type":"box","text":"N/A","page_number":225,"box":{"x":744,"y":551,"width":24,"height":9}},{"id":"ac46c31d-78a7-476d-a10b-d907e383ff4b","block_type":"box","text":"MSCI® Emerging Markets","page_number":225,"box":{"x":72,"y":591,"width":182,"height":11}},{"id":"aa6d47bc-1679-4aef-bcbf-a134ea2089a1","block_type":"box","text":"Index (USD)","page_number":225,"box":{"x":72,"y":604,"width":82,"height":10}},{"id":"c5fa40b1-4e4c-4d16-9587-cbad375f65ec","block_type":"box","text":"7.50","page_number":225,"box":{"x":274,"y":592,"width":28,"height":7}},{"id":"c846511e-cfb1-4e7c-af05-c538a4570eee","block_type":"box","text":"N/A","page_number":225,"box":{"x":385,"y":591,"width":24,"height":8}},{"id":"67fe3293-e8e2-4016-b2e4-230dd1150622","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":226,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"1dc0a381-297e-4d77-9c51-db670ce80d4c","block_type":"box","text":"226","page_number":226,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"df9f3206-973c-4966-8ad1-a4affb23021d","block_type":"box","text":"Aviva Investors: Confidential","page_number":226,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"4bdcd66b-abc1-48fd-b17b-5ba70ed2c710","block_type":"box","text":"APPENDIX 2","page_number":226,"box":{"x":443,"y":53,"width":98,"height":8}},{"id":"851a9ee8-410a-4790-884a-7df7f77b3ab1","block_type":"box","text":"AVIVA INVESTORS’ BASELINE EXCLUSION POLICY","page_number":226,"box":{"x":284,"y":86,"width":417,"height":9}},{"id":"eed469cc-9d12-41eb-86cd-b4e58dae9190","block_type":"box","text":"All Sub-Funds (with the exception of those Sub-Funds that are in termination) apply the Aviva Investors’ baseline","page_number":226,"box":{"x":62,"y":105,"width":861,"height":11}},{"id":"ecbddcac-5a2f-4430-9dbd-3126f0bad142","block_type":"box","text":"exclusion policy, meaning that the Investment Manager will avoid specific sectors and economic activities that","page_number":226,"box":{"x":62,"y":119,"width":861,"height":11}},{"id":"9e3f9471-d0ba-41a6-8b70-bb72b424ef3e","block_type":"box","text":"fundamentally misalign with Aviva’s purpose, values, and its ambition to be a sustainable business. In these cases,","page_number":226,"box":{"x":62,"y":133,"width":860,"height":11}},{"id":"da9d6492-4747-4982-a544-37709675e092","block_type":"box","text":"the Investment Manager typically applies exclusions when a certain proportion of a company’s revenue comes from","page_number":226,"box":{"x":62,"y":146,"width":860,"height":12}},{"id":"60b91470-2143-41c8-8c1b-c31c59b76319","block_type":"box","text":"these activities, as set out below. But excluding companies or entire sectors can sometimes have unintended","page_number":226,"box":{"x":62,"y":160,"width":860,"height":11}},{"id":"bc8442f3-6290-4d19-95cc-a52726ea0fbe","block_type":"box","text":"consequences, and in such cases specific and justified exceptions may be considered as outlined below.","page_number":226,"box":{"x":62,"y":174,"width":776,"height":11}},{"id":"a048bc76-ae7a-4273-b4ec-db25fcf908cd","block_type":"box","text":"Excluded or","page_number":226,"box":{"x":63,"y":209,"width":158,"height":9}},{"id":"ba397258-dba8-4985-890b-c7e7dfe8671f","block_type":"box","text":"Restricted Activity","page_number":226,"box":{"x":63,"y":223,"width":132,"height":11}},{"id":"505cd184-dd24-41cb-98be-8978e6a611cd","block_type":"box","text":"Description","page_number":226,"box":{"x":474,"y":216,"width":82,"height":11}},{"id":"5d30c95c-e0c5-41dc-a1e6-4d8e8b3edc77","block_type":"box","text":"Revenue","page_number":226,"box":{"x":827,"y":209,"width":65,"height":9}},{"id":"746f7a19-5bf0-4fbb-b6c9-c19ca2294481","block_type":"box","text":"Threshold","page_number":226,"box":{"x":822,"y":223,"width":74,"height":8}},{"id":"004fa642-5489-4f03-b4fd-f461bf33112f","block_type":"box","text":"Arctic oil^","page_number":226,"box":{"x":62,"y":256,"width":71,"height":8}},{"id":"7919d22c-7af5-4bbc-9139-edfeec91da41","block_type":"box","text":"Companies involved in the production of Arctic Oil.","page_number":226,"box":{"x":240,"y":255,"width":374,"height":12}},{"id":"78ac60bf-5105-40b3-8d9e-aa29495c2416","block_type":"box","text":"≥","page_number":226,"box":{"x":836,"y":256,"width":8,"height":8}},{"id":"92a0a48a-84ff-4303-91d7-f560e3741b8b","block_type":"box","text":"1","page_number":226,"box":{"x":851,"y":256,"width":5,"height":8}},{"id":"919ff79a-a70a-4378-84f4-ae7ff090a33e","block_type":"box","text":"0","page_number":226,"box":{"x":859,"y":256,"width":8,"height":8}},{"id":"a503bd50-affb-4bf5-aa18-a66d860061ea","block_type":"box","text":"%","page_number":226,"box":{"x":869,"y":255,"width":13,"height":9}},{"id":"42489f14-64bf-437a-9f27-22eb4f433da0","block_type":"box","text":"Biological","page_number":226,"box":{"x":63,"y":286,"width":69,"height":11}},{"id":"061b326c-96ba-4073-aeb5-e7c2759bc297","block_type":"box","text":"and","page_number":226,"box":{"x":194,"y":286,"width":26,"height":9}},{"id":"ff319961-84cd-40e9-879f-bc44d05dac8b","block_type":"box","text":"chemical weapons","page_number":226,"box":{"x":62,"y":300,"width":137,"height":11}},{"id":"e10c5c7f-d4b3-44e1-9de9-951734014f00","block_type":"box","text":"Companies that manufacture chemical or biological weapons and related","page_number":226,"box":{"x":240,"y":286,"width":549,"height":11}},{"id":"5fc71fb2-8b51-4870-8d90-7263e06d8033","block_type":"box","text":"systems and components.","page_number":226,"box":{"x":240,"y":300,"width":193,"height":11}},{"id":"608a8518-750c-4317-8a03-c7619be464d1","block_type":"box","text":"0%","page_number":226,"box":{"x":848,"y":293,"width":23,"height":9}},{"id":"ee130e43-b579-4da2-8b06-9e5217350598","block_type":"box","text":"Civilian firearms","page_number":226,"box":{"x":62,"y":333,"width":118,"height":9}},{"id":"05acb9ce-333e-4873-9eb0-87de158be602","block_type":"box","text":"Companies that manufacture firearms and small arms ammunition for","page_number":226,"box":{"x":240,"y":320,"width":550,"height":11}},{"id":"2910d15f-ecdb-42c1-a377-702271883530","block_type":"box","text":"civilian markets. Excludes products exclusively sold for the military,","page_number":226,"box":{"x":240,"y":333,"width":549,"height":11}},{"id":"b48822ab-cd7c-4a45-8a79-16bcfa443d07","block_type":"box","text":"government, and law enforcement markets.","page_number":226,"box":{"x":240,"y":347,"width":321,"height":11}},{"id":"7fbfb680-4d05-41f8-9615-8bfbb245a385","block_type":"box","text":"≥","page_number":226,"box":{"x":841,"y":334,"width":8,"height":7}},{"id":"934b2dc1-3093-4e6c-953a-d4543d684520","block_type":"box","text":"5","page_number":226,"box":{"x":855,"y":333,"width":8,"height":9}},{"id":"a4aabde5-ff8a-412b-aa5a-4cd6eacce06c","block_type":"box","text":"%","page_number":226,"box":{"x":864,"y":333,"width":13,"height":9}},{"id":"ba75b153-30db-4c74-bcf7-9cd77cbd131c","block_type":"box","text":"Cluster munitions","page_number":226,"box":{"x":62,"y":374,"width":159,"height":9}},{"id":"03578b79-6684-4792-9938-09639b22cf49","block_type":"box","text":"and landmines","page_number":226,"box":{"x":62,"y":387,"width":108,"height":9}},{"id":"c3dd7381-4f97-4c13-aca0-5e12db5f14fb","block_type":"box","text":"Companies involved in the development, production, use, maintenance,","page_number":226,"box":{"x":240,"y":367,"width":549,"height":11}},{"id":"0d5820c2-4328-42f4-851a-746a823ff76c","block_type":"box","text":"offering for sale, distribution, import or export, storage or transportation of","page_number":226,"box":{"x":240,"y":381,"width":550,"height":11}},{"id":"fcd7b317-cdd7-4eeb-a508-c2fbeafea0e7","block_type":"box","text":"cluster munitions and landmines.","page_number":226,"box":{"x":240,"y":394,"width":243,"height":9}},{"id":"02cb2353-29e2-4651-a604-2f203bc98dd2","block_type":"box","text":"0%","page_number":226,"box":{"x":848,"y":381,"width":23,"height":8}},{"id":"0e2a3092-535c-441e-8290-3da8284c1993","block_type":"box","text":"Depleted uranium","page_number":226,"box":{"x":63,"y":442,"width":130,"height":10}},{"id":"8ec81a9d-daa4-45bc-b3eb-60f08ccc8c11","block_type":"box","text":"Companies involved in the production of depleted uranium (DU) weapons,","page_number":226,"box":{"x":240,"y":414,"width":549,"height":11}},{"id":"9ba80035-7276-45d2-9686-25168f7d064c","block_type":"box","text":"ammunition and armour, including companies that manufacture armour","page_number":226,"box":{"x":240,"y":428,"width":550,"height":11}},{"id":"ec13aa86-d8a0-4e1c-9450-0ecc04ab31ac","block_type":"box","text":"piercing, fin stabilized, discarding sabot tracing rounds (APFSDS-T), kinetic","page_number":226,"box":{"x":241,"y":441,"width":549,"height":12}},{"id":"28860ef0-bce2-4064-ba81-61c7d5fed600","block_type":"box","text":"energy missiles made with DU penetrators, and DU-enhanced armour,","page_number":226,"box":{"x":240,"y":455,"width":549,"height":11}},{"id":"9971e6ff-c867-4696-9817-6461ee485d1a","block_type":"box","text":"including composite tank armour.","page_number":226,"box":{"x":241,"y":469,"width":243,"height":11}},{"id":"f3d810b7-4c4c-4b11-9c15-b9f7138a9c16","block_type":"box","text":"0%","page_number":226,"box":{"x":848,"y":442,"width":23,"height":8}},{"id":"d5a6ebdf-05cb-4e76-bd12-436b97190722","block_type":"box","text":"Incendiary (white","page_number":226,"box":{"x":63,"y":485,"width":158,"height":12}},{"id":"638c38ad-a181-4dd2-abd9-46aa3b62d71b","block_type":"box","text":"phosphorous)","page_number":226,"box":{"x":62,"y":499,"width":101,"height":11}},{"id":"a9c0f4bb-e477-4e2f-a765-d505a781ee2a","block_type":"box","text":"Companies that manufacture incendiary weapons using white phosphorus.","page_number":226,"box":{"x":240,"y":492,"width":549,"height":11}},{"id":"4a7dc331-ffa8-45d1-bcf0-208f4ada9060","block_type":"box","text":"0%","page_number":226,"box":{"x":848,"y":493,"width":23,"height":8}},{"id":"8f3daca5-a119-450f-8b68-33ee6213df28","block_type":"box","text":"Laser blinding","page_number":226,"box":{"x":63,"y":516,"width":157,"height":11}},{"id":"0031b213-1e6c-48d2-b002-1046858664f2","block_type":"box","text":"weapons","page_number":226,"box":{"x":62,"y":532,"width":66,"height":8}},{"id":"08c47b06-7c3f-474e-99eb-ee77bfbebf12","block_type":"box","text":"Companies that manufacture weapons using laser technology that causes","page_number":226,"box":{"x":240,"y":516,"width":550,"height":11}},{"id":"e8f58416-51a8-42ac-a529-adaa3513602d","block_type":"box","text":"permanent blindness to the target.","page_number":226,"box":{"x":241,"y":529,"width":252,"height":12}},{"id":"4223d804-b526-46bd-a26e-43bb282a8e41","block_type":"box","text":"0%","page_number":226,"box":{"x":848,"y":523,"width":23,"height":8}},{"id":"76bb95be-68f1-4f9f-9c8d-5f30bd00309c","block_type":"box","text":"Non-","page_number":226,"box":{"x":63,"y":551,"width":34,"height":9}},{"id":"e7e7efd2-5c5b-4a15-b612-0339dbeb01e7","block_type":"box","text":"detectable","page_number":226,"box":{"x":144,"y":551,"width":77,"height":9}},{"id":"b1d75a56-d076-4029-bdc0-587e781fc31b","block_type":"box","text":"fragments","page_number":226,"box":{"x":62,"y":565,"width":73,"height":11}},{"id":"bd501dd6-0771-4f4b-ade6-6f2cd32267b6","block_type":"box","text":"Companies that manufacture weapons which use non-detectable","page_number":226,"box":{"x":240,"y":551,"width":550,"height":11}},{"id":"a0619784-e183-4985-aa9e-fc3b28725831","block_type":"box","text":"fragments to inflict injury to targets.","page_number":226,"box":{"x":240,"y":565,"width":258,"height":11}},{"id":"fa14f0ae-ed73-4aea-b3e0-fcbdc169a517","block_type":"box","text":"0%","page_number":226,"box":{"x":848,"y":558,"width":23,"height":9}},{"id":"671a279c-0efa-46f2-9703-d767eb4c73bb","block_type":"box","text":"Nuclear weapons","page_number":226,"box":{"x":63,"y":614,"width":127,"height":11}},{"id":"6a151eb8-16f6-4b76-817b-9eeea66db519","block_type":"box","text":"Companies directly involved in, among others, development, production,","page_number":226,"box":{"x":240,"y":586,"width":549,"height":12}},{"id":"873f91c6-d8b8-468d-80ad-c3200e3d6870","block_type":"box","text":"use, maintenance, offering for sale, distribution, import or export, storage","page_number":226,"box":{"x":241,"y":600,"width":549,"height":11}},{"id":"552c71e4-2536-44de-9678-ec3f42891b71","block_type":"box","text":"or transportation of nuclear weapons, where these companies directly","page_number":226,"box":{"x":240,"y":614,"width":550,"height":11}},{"id":"80d9dc39-acf0-4964-9f44-776feae62455","block_type":"box","text":"supply nuclear states outside of the UN Treaty on Non-Proliferation of","page_number":226,"box":{"x":240,"y":627,"width":550,"height":12}},{"id":"46f321d7-a29e-45a8-9e1b-43e85b2cd2c6","block_type":"box","text":"Nuclear Weapons.","page_number":226,"box":{"x":241,"y":641,"width":135,"height":11}},{"id":"9e9a1cce-5ed1-4f3d-bf53-8a20d4c229f7","block_type":"box","text":"0%","page_number":226,"box":{"x":848,"y":614,"width":23,"height":9}},{"id":"7547df39-f673-4f7f-84cd-f9d016ff4007","block_type":"box","text":"Oil sands^","page_number":226,"box":{"x":62,"y":707,"width":77,"height":9}},{"id":"b6abb399-7bad-4341-afae-89c90d93518c","block_type":"box","text":"Companies involved in:","page_number":226,"box":{"x":240,"y":658,"width":172,"height":11}},{"id":"f72f36f4-de84-4e2b-8e68-511eb48665d2","block_type":"box","text":"","page_number":226,"box":{"x":271,"y":676,"width":6,"height":5}},{"id":"b62ee050-6d33-4d25-8c5e-b9d0f235e04a","block_type":"box","text":"oil sands extraction for a set of companies that own oil sands","page_number":226,"box":{"x":301,"y":673,"width":489,"height":11}},{"id":"1fdcc4e7-4080-465e-bdaa-db8022752a52","block_type":"box","text":"reserves; and","page_number":226,"box":{"x":301,"y":687,"width":100,"height":10}},{"id":"0a3d0b82-8a61-4053-aecc-517c472a41a4","block_type":"box","text":"","page_number":226,"box":{"x":271,"y":705,"width":6,"height":4}},{"id":"39d0ac85-18c4-4f53-b08b-5aae702b1544","block_type":"box","text":"disclose evidence of deriving revenue from oil sands extraction.","page_number":226,"box":{"x":301,"y":701,"width":488,"height":12}},{"id":"ef1ac568-a0f3-44d1-b742-b87cd19831f2","block_type":"box","text":"This does not include revenue from non-extraction activities (e.g.","page_number":226,"box":{"x":300,"y":715,"width":489,"height":11}},{"id":"a8488bba-4da4-4516-a707-037298b632a6","block_type":"box","text":"exploration, surveying, processing, refining); ownership of oil","page_number":226,"box":{"x":301,"y":729,"width":488,"height":11}},{"id":"f126601b-c185-4d9a-97ee-d12b0fe2f0d6","block_type":"box","text":"sands reserves with no associated extraction revenues; revenue","page_number":226,"box":{"x":301,"y":743,"width":489,"height":10}},{"id":"f9aa7e43-6f26-46a8-b9ff-a873640cd8b3","block_type":"box","text":"from intra-company sales.","page_number":226,"box":{"x":300,"y":756,"width":192,"height":11}},{"id":"69eeaec3-024c-4a0e-8e01-0cb58d9a89bd","block_type":"box","text":"≥","page_number":226,"box":{"x":836,"y":708,"width":8,"height":7}},{"id":"46d3b1b2-1eda-49b8-9778-3630d9ff464b","block_type":"box","text":"1","page_number":226,"box":{"x":851,"y":707,"width":5,"height":9}},{"id":"b085519b-b7c1-4bd9-a7e3-59ae47fe29ea","block_type":"box","text":"0","page_number":226,"box":{"x":859,"y":707,"width":8,"height":9}},{"id":"b394ffa6-0b47-44f8-9127-f6e7cf87138b","block_type":"box","text":"%","page_number":226,"box":{"x":869,"y":707,"width":13,"height":9}},{"id":"ab5280a8-2db9-4ad4-a73a-340ee634be4e","block_type":"box","text":"Thermal coal^","page_number":226,"box":{"x":62,"y":822,"width":104,"height":9}},{"id":"5c0a988b-4bae-47fa-ae8d-5a31aefdeb4d","block_type":"box","text":"Companies involved in either:","page_number":226,"box":{"x":240,"y":773,"width":219,"height":11}},{"id":"453ded70-615c-4866-8fd6-9a4b6469e14d","block_type":"box","text":"","page_number":226,"box":{"x":271,"y":792,"width":6,"height":4}},{"id":"4de6db24-f42c-40b3-8054-fcdb42380d86","block_type":"box","text":"Mining of thermal coal (including lignite, bituminous, anthracite and","page_number":226,"box":{"x":301,"y":788,"width":489,"height":12}},{"id":"4781e830-b3b5-4ee6-ab47-cf84b1ab54ee","block_type":"box","text":"steam coal) and its sale to external parties. It does not cover","page_number":226,"box":{"x":301,"y":802,"width":489,"height":11}},{"id":"60f4ec4f-0eea-467a-95e2-e621bbe41ccf","block_type":"box","text":"companies involved in metallurgical coal, coal mined for internal","page_number":226,"box":{"x":301,"y":816,"width":488,"height":11}},{"id":"75e5d567-22ee-4d16-8ec2-f8adfd07d2c7","block_type":"box","text":"power generation (e.g. in the case of vertically integrated power","page_number":226,"box":{"x":301,"y":829,"width":489,"height":12}},{"id":"8e9c9be1-e95c-4ba1-b9a7-cf547962f734","block_type":"box","text":"producers), intra-company sales of mined thermal coal and","page_number":226,"box":{"x":301,"y":843,"width":488,"height":11}},{"id":"6ad67a81-5d46-4395-8ed8-c3778168b395","block_type":"box","text":"revenue from coal trading; or","page_number":226,"box":{"x":301,"y":857,"width":214,"height":11}},{"id":"a9589d8f-b5dc-429b-a8f7-64e9abc4641d","block_type":"box","text":"","page_number":226,"box":{"x":271,"y":874,"width":6,"height":5}},{"id":"91692f78-9888-45e6-9313-52e6b342e06a","block_type":"box","text":"Thermal coal-based power generation.","page_number":226,"box":{"x":300,"y":871,"width":286,"height":11}},{"id":"251cfcf3-29f8-499c-98ff-b345a75f1214","block_type":"box","text":"≥","page_number":226,"box":{"x":841,"y":823,"width":8,"height":7}},{"id":"9aafd6f1-0f07-4af7-b320-0012f9ab632e","block_type":"box","text":"5","page_number":226,"box":{"x":855,"y":822,"width":8,"height":9}},{"id":"2c72f8ce-f3af-47f5-b1cd-b5476589c005","block_type":"box","text":"%","page_number":226,"box":{"x":864,"y":822,"width":13,"height":9}},{"id":"c378af4d-8238-4c30-b3d8-3d2b066e65a1","block_type":"box","text":"Tobacco producer","page_number":226,"box":{"x":62,"y":897,"width":135,"height":11}},{"id":"14eb4ed0-d9b7-402c-9293-4628ff284d8c","block_type":"box","text":"¥","page_number":226,"box":{"x":197,"y":899,"width":7,"height":7}},{"id":"35edf054-67ad-40bd-b369-5ed58669a29f","block_type":"box","text":"Companies that manufacture tobacco products, such as cigars, blunts,","page_number":226,"box":{"x":240,"y":891,"width":549,"height":11}},{"id":"168aa4df-edf5-434d-9840-939a513d705b","block_type":"box","text":"cigarettes, e-cigarettes, inhalers, beedis, kreteks, smokeless tobacco,","page_number":226,"box":{"x":240,"y":905,"width":549,"height":11}},{"id":"b30848fa-4884-4884-afe1-a144d4c1e615","block_type":"box","text":"0%","page_number":226,"box":{"x":848,"y":898,"width":23,"height":8}},{"id":"cc2e23a2-6387-4c4a-b003-2c59453d24f7","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":227,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"76664f83-d381-45e6-b3fe-f25815b185ea","block_type":"box","text":"227","page_number":227,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"4093d3aa-3520-410f-9181-e9cf52ef15ae","block_type":"box","text":"Aviva Investors: Confidential","page_number":227,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"8ff515b1-566b-43ec-b4b1-f0da7895587a","block_type":"box","text":"snuff, snus, dissolvable and chewing tobacco. This also includes","page_number":227,"box":{"x":240,"y":53,"width":550,"height":11}},{"id":"7b6391fe-2852-45dd-9447-7e38cea00401","block_type":"box","text":"companies that grow or process raw tobacco leaves.","page_number":227,"box":{"x":240,"y":67,"width":389,"height":11}},{"id":"4fdf23a9-9b1e-4ecd-b56a-664d7301514f","block_type":"box","text":"Tobacco retailer or","page_number":227,"box":{"x":62,"y":133,"width":159,"height":9}},{"id":"12168c97-45ec-4e63-b166-3e7a0d118cb6","block_type":"box","text":"distributor","page_number":227,"box":{"x":62,"y":147,"width":73,"height":8}},{"id":"9a11c40e-09bf-48c5-8331-b4f22d3b868e","block_type":"box","text":"¥","page_number":227,"box":{"x":135,"y":149,"width":7,"height":6}},{"id":"e2277db2-8dc1-4f9e-8288-1106bfe845fe","block_type":"box","text":"Companies involved in either:","page_number":227,"box":{"x":240,"y":90,"width":219,"height":11}},{"id":"6796919f-3d34-4a91-bb1c-d576d963a7d4","block_type":"box","text":"","page_number":227,"box":{"x":271,"y":109,"width":6,"height":4}},{"id":"97e1ea56-efe6-450d-a79c-e219af708610","block_type":"box","text":"Wholesale distribution of tobacco products to retailers and other","page_number":227,"box":{"x":300,"y":106,"width":474,"height":11}},{"id":"f2d62765-4a81-401f-9df4-ea005aff914d","block_type":"box","text":"distributors. This exclusion does not include a manufacturer that","page_number":227,"box":{"x":301,"y":119,"width":474,"height":9}},{"id":"d243761f-3fdc-45f4-a880-aa4c3a22de1c","block_type":"box","text":"distributes its own tobacco products unless it also provides","page_number":227,"box":{"x":301,"y":133,"width":434,"height":11}},{"id":"f5c1a0ae-4071-4215-8273-ff455b1d5b6c","block_type":"box","text":"logistics or distribution services to other tobacco companies.","page_number":227,"box":{"x":301,"y":147,"width":445,"height":11}},{"id":"40adf767-2a56-44a3-bd4c-a92ee53cf82d","block_type":"box","text":"","page_number":227,"box":{"x":271,"y":165,"width":6,"height":5}},{"id":"76aa68b6-0b46-458e-9290-5ece4b48699f","block_type":"box","text":"Retail of tobacco products. Companies that sell private-label","page_number":227,"box":{"x":302,"y":162,"width":444,"height":11}},{"id":"84a4c688-632f-4a9f-b8b4-dee040e6ecb2","block_type":"box","text":"tobacco products manufactured by a third party are considered","page_number":227,"box":{"x":300,"y":176,"width":466,"height":11}},{"id":"a6942bcf-f23f-4ae6-8ae4-55bafc1997ca","block_type":"box","text":"retailers.","page_number":227,"box":{"x":301,"y":190,"width":62,"height":8}},{"id":"c6945dbe-7217-4529-b9d9-3275fdadf99d","block_type":"box","text":"≥","page_number":227,"box":{"x":836,"y":141,"width":8,"height":7}},{"id":"18153c71-4ef7-4974-943e-e7b0d799ba08","block_type":"box","text":"2","page_number":227,"box":{"x":850,"y":140,"width":8,"height":8}},{"id":"0911ebcf-1c2e-45b0-a8e3-8509cfab22d3","block_type":"box","text":"5","page_number":227,"box":{"x":859,"y":140,"width":8,"height":9}},{"id":"dbd78e32-c303-44c1-80d9-9ede2b86dac4","block_type":"box","text":"%","page_number":227,"box":{"x":869,"y":140,"width":13,"height":9}},{"id":"0b60d0f7-97b7-4e56-b84f-f14edb9c9741","block_type":"box","text":"UN Global Compact*","page_number":227,"box":{"x":63,"y":233,"width":153,"height":12}},{"id":"352742ad-8202-48f6-8737-1e6cfeba6efe","block_type":"box","text":"Companies that have materially violated the UNGC principles, are typically","page_number":227,"box":{"x":240,"y":206,"width":550,"height":11}},{"id":"820e4016-6b25-4106-b10b-611506388da8","block_type":"box","text":"excluded, unless there is clear evidence of commitment to, or already","page_number":227,"box":{"x":240,"y":220,"width":550,"height":11}},{"id":"dc6ecd04-250f-4607-9a7e-af7d116fc16f","block_type":"box","text":"existing remediating action by, the company. Aviva Investors’ assessment","page_number":227,"box":{"x":240,"y":234,"width":550,"height":11}},{"id":"6da80cd4-669d-41fa-bc05-aad0477ce539","block_type":"box","text":"is informed by third-party data providers, internal analysis and engagement","page_number":227,"box":{"x":241,"y":247,"width":549,"height":11}},{"id":"372c277c-5867-4a23-a5cf-ea1b6f98df43","block_type":"box","text":"insights, where relevant and available.","page_number":227,"box":{"x":241,"y":261,"width":282,"height":11}},{"id":"69a1c815-4401-4723-a2dc-84a83f7f9605","block_type":"box","text":"n/a","page_number":227,"box":{"x":849,"y":233,"width":21,"height":9}},{"id":"2f97279e-b49f-4511-9954-dfd933bfc3f6","block_type":"box","text":"¥","page_number":227,"box":{"x":61,"y":290,"width":8,"height":7}},{"id":"26262c13-c090-4624-8b6f-96db712c017d","block_type":"box","text":"These screens do not currently apply to the AI UK Listed Equity Income Fund.","page_number":227,"box":{"x":73,"y":288,"width":621,"height":11}},{"id":"65315a41-3684-4632-835a-1b709d4f369d","block_type":"box","text":"^Exceptions for Thermal coal, Arctic oil and Oil sands –","page_number":227,"box":{"x":61,"y":308,"width":411,"height":11}},{"id":"92d865a9-45e2-42db-b0ac-e20fdb6aac1e","block_type":"box","text":"","page_number":227,"box":{"x":92,"y":331,"width":6,"height":5}},{"id":"99fbf3b6-557d-4355-bfd5-119b59897393","block_type":"box","text":"companies that either (i) have a science based target approved by a recognised industry body, or (ii) have","page_number":227,"box":{"x":122,"y":328,"width":787,"height":11}},{"id":"bf95d7aa-759d-4d4f-ad7d-e533ddc632ea","block_type":"box","text":"another credible target backed up by a transition plan that aligns with the goals of the Paris Agreement and","page_number":227,"box":{"x":122,"y":342,"width":786,"height":11}},{"id":"4197a71e-7820-4112-b972-95554161996e","block_type":"box","text":"which has been assessed by Aviva Investors as credible on a case-by-case basis. For utilities that are","page_number":227,"box":{"x":122,"y":356,"width":787,"height":11}},{"id":"ba94e91f-2b38-49bd-9b05-074717789be7","block_type":"box","text":"majority-owned by a sovereign, the assessment would take into consideration the sovereign’s public climate","page_number":227,"box":{"x":123,"y":369,"width":786,"height":11}},{"id":"2a3c1952-f2db-4dbb-9cdb-970492286141","block_type":"box","text":"commitments.","page_number":227,"box":{"x":123,"y":383,"width":102,"height":9}},{"id":"5c236405-23fc-400b-b596-b341808565c1","block_type":"box","text":"","page_number":227,"box":{"x":92,"y":406,"width":6,"height":5}},{"id":"c22a7171-e37a-49b1-8542-f3509220e8dd","block_type":"box","text":"project finance bonds where the investments go exclusively towards supporting low carbon solutions,","page_number":227,"box":{"x":122,"y":403,"width":786,"height":11}},{"id":"3996807e-28ef-4846-957e-c329a5dd733d","block_type":"box","text":"improvements in energy efficiency, or other wider activities aligned with the principles under this policy.","page_number":227,"box":{"x":123,"y":417,"width":760,"height":11}},{"id":"9a4ab750-aeda-42c0-8689-e405b0e40e30","block_type":"box","text":"","page_number":227,"box":{"x":92,"y":440,"width":6,"height":5}},{"id":"9882dcdd-45a1-4672-aa03-f79b25a22209","block_type":"box","text":"Green or Sustainability Bonds, where the proceeds go exclusively to low carbon solutions (renewable","page_number":227,"box":{"x":122,"y":437,"width":786,"height":11}},{"id":"1fac505f-2ebe-4f1d-93d4-c556347951e1","block_type":"box","text":"energy and/or sustainable alternative fuels) to displace and/or reduce the share of the activity which sees","page_number":227,"box":{"x":123,"y":451,"width":786,"height":11}},{"id":"81b3ed7a-a376-4f85-b069-41711815e355","block_type":"box","text":"the issuer excluded.","page_number":227,"box":{"x":122,"y":465,"width":148,"height":8}},{"id":"8f8f5ff4-1438-4fab-bd47-89dd5fa7fcb2","block_type":"box","text":"*","page_number":227,"box":{"x":62,"y":504,"width":5,"height":4}},{"id":"b4169a44-6784-4a30-b6d0-6a3851727f7f","block_type":"box","text":"The UN Global Compact (UNGC) is a globally recognised corporate sustainability initiative that encourages","page_number":227,"box":{"x":77,"y":504,"width":846,"height":11}},{"id":"d5c35c0c-826a-44d9-b68f-0f8695199492","block_type":"box","text":"businesses to align their operations and strategies with ten universal principles relating to human rights, labour, the","page_number":227,"box":{"x":62,"y":518,"width":861,"height":11}},{"id":"7135acaa-b21e-4aef-b532-5651c7a0054c","block_type":"box","text":"environment, and anti-corruption. It also supports broader societal objectives, including the UN Sustainable","page_number":227,"box":{"x":62,"y":532,"width":861,"height":11}},{"id":"0f70013f-1b94-44b9-87f1-1924a55560c1","block_type":"box","text":"Development Goals (SDGs).","page_number":227,"box":{"x":63,"y":545,"width":210,"height":11}},{"id":"d343d91f-fef2-48d1-8b09-361f5834f492","block_type":"box","text":"The above screens are reviewed regularly for relevance and effectiveness. Where Aviva Investors introduces new","page_number":227,"box":{"x":62,"y":573,"width":861,"height":11}},{"id":"561e06fd-5a82-41f1-bb7c-f3e38bed52ce","block_type":"box","text":"screens or revises the criteria of existing screens (for example, changes to the applicable revenue thresholds), and","page_number":227,"box":{"x":62,"y":586,"width":860,"height":11}},{"id":"0b42401a-98ff-4f82-87bf-2729ccbb024c","block_type":"box","text":"the application of such new screens or revisions identifies that investments currently held now require exclusion,","page_number":227,"box":{"x":62,"y":600,"width":860,"height":11}},{"id":"df6b58ac-d265-4273-9f8c-0bbb5602db85","block_type":"box","text":"disinvestment will occur as soon as reasonably practicable having regard to the interests of investors in the relevant","page_number":227,"box":{"x":62,"y":614,"width":861,"height":11}},{"id":"03fbe505-c538-48b5-8e57-5034fc7f6d90","block_type":"box","text":"Sub-Fund. Such disinvestment will typically be within 90 days, although may occur for a total period of up to 6 months","page_number":227,"box":{"x":62,"y":627,"width":861,"height":11}},{"id":"724ca2bc-563b-482d-bc35-21e456d3de0a","block_type":"box","text":"where the Investment Manager considers it is in the interest of investors to do so. In exceptional circumstances, and","page_number":227,"box":{"x":62,"y":641,"width":860,"height":11}},{"id":"5f31cf9d-bb88-4996-b71b-5c36aa600fc3","block_type":"box","text":"only where disinvestment is either not possible, for example due to suspension of trading, or where it is deemed to","page_number":227,"box":{"x":62,"y":654,"width":860,"height":12}},{"id":"29f3fb55-de29-42d4-ab76-08398e5bbf90","block_type":"box","text":"have a material adverse impact on investors, the ACS Manager and Investment Manager may agree that the","page_number":227,"box":{"x":62,"y":668,"width":861,"height":11}},{"id":"dda76664-b89d-43a0-aba4-0165e4955a03","block_type":"box","text":"divestment period may be extended beyond 6 months.","page_number":227,"box":{"x":62,"y":682,"width":402,"height":11}},{"id":"922f6187-8100-47e5-bce7-56a3d186aa62","block_type":"box","text":"The list of companies excluded by the above screens is monitored by Aviva Investors and updated biannually. Sub","page_number":227,"box":{"x":62,"y":709,"width":861,"height":11}},{"id":"6f54bb2b-7062-4709-a9c3-be8e4873546d","block_type":"box","text":"Fund holdings which are then identified as requiring exclusion will be disposed of as soon as reasonably practicable","page_number":227,"box":{"x":63,"y":723,"width":860,"height":11}},{"id":"90bf3369-ad8a-43bf-8581-25ed6e4bd94e","block_type":"box","text":"having regard to the interests of investors in the Sub-Fund. The Investment Manager endeavours to disinvest from","page_number":227,"box":{"x":62,"y":736,"width":860,"height":12}},{"id":"fee9aed2-83b6-49d6-9419-55d7df718eef","block_type":"box","text":"such assets within 90 days of identifying that they are now excluded by the screens. Where disinvestment is either","page_number":227,"box":{"x":62,"y":750,"width":861,"height":11}},{"id":"a4e9f405-b7fa-4eec-b31f-1d5713b1e2ed","block_type":"box","text":"not possible or deemed to have a material adverse impact on investors, the ACS Manager and Investment Manager","page_number":227,"box":{"x":62,"y":764,"width":861,"height":11}},{"id":"d8fb9dc8-d612-4d06-875a-eea293a813c1","block_type":"box","text":"may agree that the divestment period may be extended beyond 90 days, and may occur for a total period of up to 6","page_number":227,"box":{"x":62,"y":777,"width":861,"height":12}},{"id":"9b283afd-fa49-4231-8712-195279f349d1","block_type":"box","text":"months.","page_number":227,"box":{"x":62,"y":791,"width":58,"height":9}},{"id":"c681ae93-a97e-42d6-b0f1-ec34f72b64ae","block_type":"box","text":"The ACS Manager and the Investment Manager may also agree to extend the period of divestment by up to a total of","page_number":227,"box":{"x":62,"y":818,"width":861,"height":12}},{"id":"1be4aa91-699b-4b2b-83f4-1e6e44aaa3b0","block_type":"box","text":"12 months from identifying that an asset is now excluded by the screens in either of the above circumstances where","page_number":227,"box":{"x":63,"y":832,"width":860,"height":11}},{"id":"7067fc53-0bc7-4f6e-aa28-74c123b79aee","block_type":"box","text":"(i) the ACS Manager is in the process of amending the exclusion policy in a manner which could affect the need to","page_number":227,"box":{"x":63,"y":846,"width":860,"height":11}},{"id":"f061bd24-a71a-4ad7-8fad-7cbb7202b795","block_type":"box","text":"divest from such asset and (ii) they agree that it therefore would not be appropriate to have to dispose of such asset","page_number":227,"box":{"x":62,"y":859,"width":861,"height":12}},{"id":"04549138-d01c-43d7-8e15-6dc5228ee939","block_type":"box","text":"pending the associated update to the Prospectus.","page_number":227,"box":{"x":62,"y":873,"width":367,"height":11}},{"id":"96ac09cf-a1b4-4e96-8b3a-2dad0ff1094f","block_type":"box","text":"On an exceptions basis and at all times acting in accordance with the principles of the exclusion policy, Aviva Investors","page_number":227,"box":{"x":62,"y":900,"width":861,"height":11}},{"id":"8b6fbfab-48bf-4ac8-8842-1bc07311bec4","block_type":"box","text":"may decide not to add a company to the exclusion list when it has exceeded the relevant threshold if in Aviva Investors’","page_number":227,"box":{"x":62,"y":914,"width":860,"height":11}},{"id":"977d5fc3-d0e7-4f95-9477-0d3b235c470e","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":228,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"02bf7fe4-2989-4582-9fe0-94168e2cc0ac","block_type":"box","text":"228","page_number":228,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"4beaf69c-1425-466a-8485-0ee02fc77534","block_type":"box","text":"Aviva Investors: Confidential","page_number":228,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"8ec84a1a-805f-42e7-9229-e828d89bf0f2","block_type":"box","text":"opinion this was not a result of a deliberate action taken by the company and/or will only likely be temporary in nature","page_number":228,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"2fc710c1-9b1d-47ac-810b-1089600926ad","block_type":"box","text":"or because of planned actions by the company to reduce revenues from the relevant activity. Examples of this would","page_number":228,"box":{"x":62,"y":66,"width":860,"height":11}},{"id":"0efc1a1f-bb53-42a3-b7b7-697329f121e1","block_type":"box","text":"be if the relevant company had exceeded the threshold because of commodity price volatility and not because of","page_number":228,"box":{"x":62,"y":80,"width":861,"height":11}},{"id":"afe33891-006a-4fae-8297-bdccbf606118","block_type":"box","text":"actions taken by the company to increase revenues from the excluded activity or where the company has corporate","page_number":228,"box":{"x":62,"y":94,"width":861,"height":11}},{"id":"bc3b2557-c706-49f1-bbf9-4eac60611eac","block_type":"box","text":"actions planned to mitigate activity from the revenue generating activity.","page_number":228,"box":{"x":62,"y":107,"width":530,"height":11}},{"id":"95e9dba8-e018-4721-ad17-081e0431b649","block_type":"box","text":"This policy does not usually apply to:","page_number":228,"box":{"x":62,"y":135,"width":271,"height":11}},{"id":"b96bb1ca-643f-4f65-8bd0-860e39bfc8e6","block_type":"box","text":"","page_number":228,"box":{"x":92,"y":166,"width":6,"height":4}},{"id":"427d3e28-4932-48ea-9ba3-fb591e60ee36","block_type":"box","text":"exposure to a well-diversified index through a derivative or an investment linked to that index, of which an","page_number":228,"box":{"x":123,"y":163,"width":799,"height":11}},{"id":"e5b831cb-d0e1-4070-a476-3a6357fa0dc4","block_type":"box","text":"excluded issuer is a constituent. A well-diversified financial index features at least 30 constituents and has","page_number":228,"box":{"x":123,"y":176,"width":799,"height":9}},{"id":"00f601a7-78e9-417b-8975-c46c9980d3b1","block_type":"box","text":"individual constituent weightings not more than 20% of the index (includes broad-based and sector indices);","page_number":228,"box":{"x":123,"y":190,"width":797,"height":11}},{"id":"3d60d7fd-7a4d-475d-9603-e2cc6723834d","block_type":"box","text":"","page_number":228,"box":{"x":92,"y":207,"width":6,"height":5}},{"id":"a383c495-0517-4517-8c79-cd262ed3f2e3","block_type":"box","text":"exposure to a non-diversified financial index through a derivative or an investment linked to that index,","page_number":228,"box":{"x":123,"y":204,"width":799,"height":12}},{"id":"39f8b36a-54e7-4090-a6d0-a67ca148c4fd","block_type":"box","text":"provided that: (i) the aggregate exposure of that financial index to excluded companies is less than or equal","page_number":228,"box":{"x":123,"y":218,"width":799,"height":11}},{"id":"41ec6a55-769f-4b07-9c0b-59a2bce5f0de","block_type":"box","text":"to 20%; and (ii) the Sub-Fund’s total exposure to excluded companies via such non-diversified financial index","page_number":228,"box":{"x":122,"y":231,"width":801,"height":12}},{"id":"8ed58d41-484b-4577-9585-0b69d7fc9991","block_type":"box","text":"does not exceed 2.5% of the Sub-Fund’s net asset value;","page_number":228,"box":{"x":122,"y":245,"width":424,"height":11}},{"id":"fa909dbb-26d0-4387-b557-0111135d3211","block_type":"box","text":"","page_number":228,"box":{"x":92,"y":263,"width":6,"height":4}},{"id":"3e26ccb3-7232-451b-8d8b-e0b30af5c3ba","block_type":"box","text":"collateral posted by counterparties;","page_number":228,"box":{"x":123,"y":260,"width":258,"height":11}},{"id":"6212c2f1-6cfb-44ac-a513-62b11f18e217","block_type":"box","text":"","page_number":228,"box":{"x":92,"y":277,"width":6,"height":5}},{"id":"107b9c7d-2d69-4dca-b1e6-25cf31609065","block_type":"box","text":"asset-backed securities (including collateralised loan obligations);","page_number":228,"box":{"x":122,"y":274,"width":485,"height":12}},{"id":"04f26f7c-2e45-44cf-b75f-228a9b3ec85b","block_type":"box","text":"","page_number":228,"box":{"x":92,"y":292,"width":6,"height":4}},{"id":"b84f805f-66e4-4753-986e-ac7f8a459e96","block_type":"box","text":"short selling of financial instruments issued by excluded issuers;","page_number":228,"box":{"x":122,"y":289,"width":475,"height":11}},{"id":"d1e50d9a-f8a8-4833-89ef-f387c2f8d488","block_type":"box","text":"","page_number":228,"box":{"x":92,"y":306,"width":6,"height":5}},{"id":"e06a3bbc-686e-46bb-b209-1fbc4f3a4f29","block_type":"box","text":"third party funds managed by external managers that may not operate equivalent exclusions or any index","page_number":228,"box":{"x":122,"y":303,"width":801,"height":11}},{"id":"74e08827-89ec-48ad-ad4e-ac9d2151f9a8","block_type":"box","text":"tracking funds (whether managed by Aviva companies or by third parties) that passively replicate conventional","page_number":228,"box":{"x":122,"y":317,"width":800,"height":11}},{"id":"62842b66-6709-41c3-8417-7ca299ab8c6c","block_type":"box","text":"or non-customised market indices. While consideration of environmental, social, and governance factors are","page_number":228,"box":{"x":122,"y":331,"width":801,"height":11}},{"id":"50310606-8ed9-4408-aec9-38f3679ccb43","block_type":"box","text":"an integral part of the fund selection process, the underlying funds may not operate exclusions equivalent to","page_number":228,"box":{"x":122,"y":344,"width":801,"height":11}},{"id":"6b55925c-bc72-4ab0-94dd-d085792cd7ce","block_type":"box","text":"the exclusion policy.","page_number":228,"box":{"x":122,"y":358,"width":149,"height":11}},{"id":"a58e1d37-0446-40bf-92e3-9e59fb64704f","block_type":"box","text":"In order to assess the application of the baseline exclusion policy, Aviva Investors relies on data provided by third","page_number":228,"box":{"x":63,"y":385,"width":860,"height":11}},{"id":"2964030d-6626-45c0-8419-d4a8ffa64e44","block_type":"box","text":"party providers. Aviva Investors’ ability to assess a company against the thresholds is therefore dependent on the","page_number":228,"box":{"x":62,"y":399,"width":860,"height":11}},{"id":"716513c1-d48f-4f2c-9c06-3b7ad9311580","block_type":"box","text":"availability, completeness, and accuracy of that third-party data and we cannot guarantee the quality of the data","page_number":228,"box":{"x":62,"y":412,"width":861,"height":12}},{"id":"4ff16401-ab8a-4956-a20f-5c0ab2b7176a","block_type":"box","text":"provided by third-party providers, nor do we independently test the methodologies used or data provided.","page_number":228,"box":{"x":62,"y":426,"width":776,"height":11}},{"id":"7cc6cbf6-9c32-4502-9590-03b7129aa727","block_type":"box","text":"","page_number":228,"box":{"x":92,"y":457,"width":6,"height":5}},{"id":"a9498429-b5bf-4da3-98f6-1a43348a2c4c","block_type":"box","text":"Where third-party data is unavailable or incomplete, there may be instances where Aviva Investors is unable","page_number":228,"box":{"x":122,"y":454,"width":801,"height":11}},{"id":"6a0c1c79-35e8-4756-8034-4af47459e9fe","block_type":"box","text":"to assess the company. In these cases, the company would be treated as eligible for investment for the","page_number":228,"box":{"x":122,"y":468,"width":801,"height":11}},{"id":"7fc90cb7-9bd1-48da-ad92-67b1b2d9a63d","block_type":"box","text":"purposes of the baseline exclusion policy.","page_number":228,"box":{"x":123,"y":481,"width":307,"height":12}},{"id":"e6fea8ac-1159-4deb-b055-fb388c896901","block_type":"box","text":"","page_number":228,"box":{"x":92,"y":513,"width":6,"height":4}},{"id":"ee57871c-a736-4686-85a0-f24b043360c8","block_type":"box","text":"Where third-party data is available, but there is reason to believe it may be inaccurate, Aviva Investors would","page_number":228,"box":{"x":122,"y":510,"width":801,"height":11}},{"id":"9cdf6232-b9ac-4183-8353-b37050649d54","block_type":"box","text":"conduct its own review using publicly available information or direct engagement. Where Aviva Investors","page_number":228,"box":{"x":123,"y":523,"width":800,"height":11}},{"id":"f67e373b-f75d-4c78-862e-96f869bfbe9b","block_type":"box","text":"obtains verifiable evidence, and subject to appropriate controls, it may apply its own evidence-based internal","page_number":228,"box":{"x":122,"y":537,"width":801,"height":11}},{"id":"bbd1e9a7-6d6b-452d-9071-f4c45c8f7298","block_type":"box","text":"estimate in place of the third-party data.","page_number":228,"box":{"x":123,"y":551,"width":292,"height":11}},{"id":"e3191b51-1079-4849-a76a-1e264534eab0","block_type":"box","text":"Given the complexity of the available data, there is also a risk that Aviva Investors, or the third-party data providers","page_number":228,"box":{"x":62,"y":578,"width":861,"height":11}},{"id":"2884ccbc-3226-48b1-b236-0c453f7e250b","block_type":"box","text":"on which it may depend, may not interpret or apply the relevant sustainability characteristics correctly. In any other","page_number":228,"box":{"x":62,"y":592,"width":861,"height":11}},{"id":"84c65928-ef98-447f-be9f-f6876eb55dd9","block_type":"box","text":"situation not explicitly listed above, where there may be data uncertainty or information may be lacking, including","page_number":228,"box":{"x":62,"y":605,"width":860,"height":11}},{"id":"20e63cc3-493f-48bf-b2da-b236682f690f","block_type":"box","text":"instances where it may be discontinued by third-party providers, or where third-party methodology is not consistent","page_number":228,"box":{"x":62,"y":619,"width":861,"height":11}},{"id":"9385472c-4770-4e61-b997-4acc9dba7827","block_type":"box","text":"with its intentions, Aviva Investors will exercise qualitative assessment based on the information available to it and at","page_number":228,"box":{"x":62,"y":633,"width":861,"height":11}},{"id":"fa0b637e-6de9-43f5-bb59-51fa9fc17030","block_type":"box","text":"all times in keeping with the intentions of the baseline exclusion policy.","page_number":228,"box":{"x":62,"y":646,"width":521,"height":11}},{"id":"ce05cad7-ab89-4ce9-bc35-3748a64502c9","block_type":"box","text":"Aviva Investors Funds ACS Prospectus","page_number":229,"box":{"x":62,"y":940,"width":204,"height":8}},{"id":"8b300df2-d83c-4324-9117-2d967144897f","block_type":"box","text":"(24 December 2025)","page_number":229,"box":{"x":274,"y":940,"width":106,"height":8}},{"id":"c7e59d10-7c83-44ef-b2d2-59245752718a","block_type":"box","text":"229","page_number":229,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"681971a4-430f-4f79-a0a7-5f37ed8f0ab3","block_type":"box","text":"Aviva Investors: Confidential","page_number":229,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"57986f3b-0b68-4cd8-bcbf-9b00d25b8dbc","block_type":"box","text":"APPENDIX 3","page_number":229,"box":{"x":443,"y":55,"width":99,"height":8}},{"id":"3ee3f1b8-74de-4d6f-94fd-e77616cb28e1","block_type":"box","text":"THE STEWARDSHIP EXCLUSIONS","page_number":229,"box":{"x":355,"y":74,"width":275,"height":9}},{"id":"559c197c-d63b-4446-b3a1-01db9d53c292","block_type":"box","text":"This section applies only to the Stewardship Funds.","page_number":229,"box":{"x":62,"y":94,"width":381,"height":11}},{"id":"6c7ce19a-6300-4804-8596-d1a45f7e6245","block_type":"box","text":"The Stewardship Funds must each hold their minimum stewardship allocation whereby assets must be selected in","page_number":229,"box":{"x":62,"y":113,"width":860,"height":11}},{"id":"b107bcbd-0804-466d-aefa-f4566fdeafef","block_type":"box","text":"accordance with the Investment Manager’s proprietary investment framework that aims – through the responsible","page_number":229,"box":{"x":62,"y":127,"width":861,"height":11}},{"id":"3efbb678-fa67-4527-b749-293d26eb5393","block_type":"box","text":"allocation of capital (stewardship) – to encourage companies to improve environmental and/or social outcomes","page_number":229,"box":{"x":62,"y":141,"width":861,"height":11}},{"id":"9b8d5355-395b-4cf4-a46e-a640164ae398","block_type":"box","text":"through though either their products and services, and/or through their operations. The Investment Manager’s","page_number":229,"box":{"x":62,"y":154,"width":861,"height":12}},{"id":"9da1b880-e449-406a-bf85-a2e8bcbcb951","block_type":"box","text":"investment framework requires an asset to contribute to one of three pillars: Climate, Earth and People.","page_number":229,"box":{"x":62,"y":168,"width":764,"height":11}},{"id":"404a65d0-f0ed-4701-bcd3-da239b39bbc5","block_type":"box","text":"To ensure that the Stewardship Funds do not invest in any company that, in the Investment Manager’s view, is not","page_number":229,"box":{"x":62,"y":187,"width":861,"height":12}},{"id":"c322206b-ebe3-4031-b834-f1d43cca807b","block_type":"box","text":"compatible with these three pillars, the Sub-Funds are subject to the stewardship exclusions. These are screens,","page_number":229,"box":{"x":62,"y":201,"width":860,"height":11}},{"id":"bb3905b0-d80e-4f3e-91c6-c277ea989f30","block_type":"box","text":"using third-party data, that exclude from investment companies that do not meet certain ethical, social and","page_number":229,"box":{"x":63,"y":215,"width":859,"height":11}},{"id":"6acf05fc-6068-4931-ab2a-1ac0acef93dc","block_type":"box","text":"environmental standards.","page_number":229,"box":{"x":62,"y":229,"width":186,"height":8}},{"id":"50988385-12be-4251-9486-852006bad994","block_type":"box","text":"These exclusions are set out in the tables below:","page_number":229,"box":{"x":62,"y":248,"width":360,"height":9}},{"id":"4525f7b4-07f2-412d-9b47-9a84d44b404d","block_type":"box","text":"Climate Exclusions","page_number":229,"box":{"x":62,"y":274,"width":153,"height":8}},{"id":"75a12f2c-3481-4220-8297-712e5df2c593","block_type":"box","text":"Issue","page_number":229,"box":{"x":124,"y":298,"width":41,"height":8}},{"id":"1054d8ba-e73d-41af-9b39-04c3cd0b614f","block_type":"box","text":"Negative Screening Criteria","page_number":229,"box":{"x":387,"y":297,"width":218,"height":12}},{"id":"2a6132d3-ddd2-4fe2-ad82-7b670c024396","block_type":"box","text":"Thermal Coal","page_number":229,"box":{"x":71,"y":333,"width":99,"height":9}},{"id":"6bb736f1-9428-4bb4-bb35-c2b7871b2540","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":319,"width":6,"height":5}},{"id":"de1ceb8b-799a-4898-9a86-2d42dd195c18","block_type":"box","text":"Any revenue from thermal coal mining or thermal coal-fired","page_number":229,"box":{"x":297,"y":316,"width":435,"height":11}},{"id":"7be21820-bcb7-4b6c-9df8-317c64120746","block_type":"box","text":"power generation.","page_number":229,"box":{"x":297,"y":332,"width":132,"height":11}},{"id":"bcfa9b73-0d83-41e6-95a0-f500a71dac53","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":351,"width":6,"height":5}},{"id":"5d346489-bf92-4fec-b5f6-442d56bad038","block_type":"box","text":"Any thermal coal reserves.","page_number":229,"box":{"x":297,"y":348,"width":197,"height":11}},{"id":"162fb27f-db97-40d3-867d-69f8512d48ed","block_type":"box","text":"Oil & Gas","page_number":229,"box":{"x":72,"y":502,"width":70,"height":9}},{"id":"8e1f506b-0b2d-49e6-a958-00011e1accf1","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":369,"width":6,"height":4}},{"id":"7df3eee0-f730-4b46-b662-46c4ff757168","block_type":"box","text":"Any revenue from Arctic oil and/or gas production (onshore","page_number":229,"box":{"x":297,"y":365,"width":437,"height":12}},{"id":"31d113ac-f04f-4d5a-9121-4089c2515ffb","block_type":"box","text":"and offshore). The definition of “Arctic” is geographical and","page_number":229,"box":{"x":297,"y":381,"width":434,"height":11}},{"id":"59f97573-9f89-450e-b72c-c5896f32d830","block_type":"box","text":"includes production activities north of the 66.5 latitude.","page_number":229,"box":{"x":298,"y":397,"width":401,"height":11}},{"id":"a162fe3b-04d3-41bd-98ac-988df2fea698","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":416,"width":6,"height":5}},{"id":"b54c6247-3a5d-48cc-938b-f8f87a18c4fd","block_type":"box","text":"Equal to or more than 10% of revenue from conventional oil","page_number":229,"box":{"x":298,"y":413,"width":440,"height":11}},{"id":"98aa58a1-b08d-40b2-aec8-57c411e667cd","block_type":"box","text":"and/or gas extraction and production*.","page_number":229,"box":{"x":297,"y":429,"width":282,"height":11}},{"id":"a5c03128-0337-4d60-8075-ba0fde775282","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":449,"width":6,"height":4}},{"id":"4726206c-33df-4656-9aaa-532336e5df70","block_type":"box","text":"Equal to or more than 15% of revenue from natural gas","page_number":229,"box":{"x":298,"y":446,"width":408,"height":11}},{"id":"0b22d78b-b8f3-40c8-b375-4e6e46d52e02","block_type":"box","text":"electricity generation**.","page_number":229,"box":{"x":297,"y":461,"width":170,"height":11}},{"id":"37228487-5743-4d54-b9eb-2b1151472b20","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":481,"width":6,"height":4}},{"id":"7d79b8a6-6b51-4ebe-aede-06d2541a08c0","block_type":"box","text":"Any revenue from unconventional oil and/or gas production","page_number":229,"box":{"x":297,"y":478,"width":437,"height":11}},{"id":"d1ff6645-214c-464c-8a9e-8f645f7bef2a","block_type":"box","text":"(including oil sands, oil shale, tar sands, shale oil, shale gas,","page_number":229,"box":{"x":298,"y":493,"width":446,"height":12}},{"id":"0d433db5-66b6-434e-b219-b79ca514421a","block_type":"box","text":"tight gas, coal bed methane, coal seam gas).","page_number":229,"box":{"x":297,"y":509,"width":332,"height":11}},{"id":"a660728c-88b6-4559-b231-319467473e3a","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":529,"width":6,"height":4}},{"id":"5d4e441a-4f3d-49b3-8c4a-359456b99393","block_type":"box","text":"Equal to or more than 10% of revenue from liquid fuels power","page_number":229,"box":{"x":298,"y":526,"width":455,"height":11}},{"id":"fe8a1a27-0884-40c7-88ec-8fded3c1a25a","block_type":"box","text":"generation.","page_number":229,"box":{"x":297,"y":541,"width":82,"height":12}},{"id":"50e36f8d-b613-436a-8b4c-7bf4c8f6fecf","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":561,"width":6,"height":4}},{"id":"271d0fd2-df93-4f4b-a252-6beed407923f","block_type":"box","text":"Any unconventional oil and/or gas reserves (including shale","page_number":229,"box":{"x":297,"y":558,"width":441,"height":11}},{"id":"df1df322-ed65-46b3-a73b-161313c4fabc","block_type":"box","text":"gas, shale oil, oil shale, oil sands, tar sands, tight gas, coal","page_number":229,"box":{"x":297,"y":574,"width":434,"height":11}},{"id":"9d4926c4-cb5b-4daa-92c6-5132e8045a25","block_type":"box","text":"bed methane and coal seam gas).","page_number":229,"box":{"x":297,"y":589,"width":252,"height":11}},{"id":"75662b26-1883-412d-b56f-6486901660ba","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":609,"width":6,"height":4}},{"id":"14676524-2b09-40bf-85b9-881dd5f29498","block_type":"box","text":"Equal to or more than 1000mmboe of oil and/or gas reserves.","page_number":229,"box":{"x":298,"y":606,"width":455,"height":11}},{"id":"17d9e46d-3b36-45b8-8c70-ff978cec22fb","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":625,"width":6,"height":5}},{"id":"65473974-f50a-4d23-bb96-6ac36e0ae4f8","block_type":"box","text":"Equal to or more than 75% of revenue from oil and/or gas","page_number":229,"box":{"x":298,"y":622,"width":426,"height":11}},{"id":"a860205d-9010-43d1-a49a-01898880cf2d","block_type":"box","text":"value chain activities, including distribution and retail,","page_number":229,"box":{"x":297,"y":638,"width":392,"height":11}},{"id":"cb986f78-d564-4f43-ab37-a485aed285aa","block_type":"box","text":"equipment and services, petrochemicals, pipelines and","page_number":229,"box":{"x":297,"y":654,"width":406,"height":11}},{"id":"ba1b4b55-a2d8-441c-841a-8d73c8e2cfee","block_type":"box","text":"transportation, refining, and trading***.","page_number":229,"box":{"x":297,"y":669,"width":283,"height":11}},{"id":"f59659c8-1537-4664-be7b-67c4e4c08d8c","block_type":"box","text":"Earth Exclusions","page_number":229,"box":{"x":63,"y":718,"width":134,"height":9}},{"id":"0c27d143-771d-4927-b73d-847e3dde8755","block_type":"box","text":"Issue","page_number":229,"box":{"x":124,"y":742,"width":41,"height":9}},{"id":"b3e40e2c-77f3-4d77-948e-405d9cdcc499","block_type":"box","text":"Negative Screening Criteria","page_number":229,"box":{"x":387,"y":742,"width":218,"height":11}},{"id":"f4cd0b9f-4830-48c5-af92-e6cbe106d5ae","block_type":"box","text":"Nuclear power","page_number":229,"box":{"x":72,"y":760,"width":146,"height":11}},{"id":"4e22682a-bc4a-485a-8522-905ffbf7985e","block_type":"box","text":"generation","page_number":229,"box":{"x":72,"y":774,"width":77,"height":11}},{"id":"0d59aebc-afba-4c84-9189-fec157d1075a","block_type":"box","text":"","page_number":229,"box":{"x":267,"y":764,"width":6,"height":4}},{"id":"e4a22484-5011-47ca-992a-30a43c3d2118","block_type":"box","text":">10% of revenue from nuclear power activities.","page_number":229,"box":{"x":285,"y":760,"width":347,"height":12}},{"id":"9bd11d19-a2f2-4ad8-8463-deccbb9bed00","block_type":"box","text":"","page_number":229,"box":{"x":268,"y":778,"width":6,"height":4}},{"id":"11dac5b7-5c2d-4157-8fef-c1130e2e3c69","block_type":"box","text":"Any company deriving revenues from the mining of uranium.","page_number":229,"box":{"x":284,"y":775,"width":447,"height":11}},{"id":"e2310cfb-c4d9-4f27-b7ec-a120cdd50406","block_type":"box","text":"Animal Welfare and","page_number":229,"box":{"x":71,"y":845,"width":146,"height":9}},{"id":"7eba5733-0552-48f3-af30-e95832186912","block_type":"box","text":"Conservation","page_number":229,"box":{"x":72,"y":858,"width":97,"height":9}},{"id":"b1a62002-54a3-440f-a2dd-954af99d8887","block_type":"box","text":"","page_number":229,"box":{"x":268,"y":793,"width":6,"height":4}},{"id":"2b9a5366-78bd-4c87-a8b9-767a7ee38c32","block_type":"box","text":"Any involvement in the development and manufacture of non","page_number":229,"box":{"x":284,"y":790,"width":470,"height":11}},{"id":"af7d6eea-1575-4545-9c76-8664d0866664","block_type":"box","text":"medical related products (such as cosmetics, personal care,","page_number":229,"box":{"x":298,"y":803,"width":455,"height":12}},{"id":"ca7a680a-68f6-4d6b-a643-4c1788c01928","block_type":"box","text":"household cleaning products) where this has involved animal","page_number":229,"box":{"x":298,"y":817,"width":456,"height":11}},{"id":"7f6e5f9b-d542-4571-9d9a-d6178f75d49c","block_type":"box","text":"testing and where the company does not disclose an","page_number":229,"box":{"x":297,"y":831,"width":457,"height":11}},{"id":"9f5e0539-633b-44e2-882a-dc811154b921","block_type":"box","text":"animal testing policy or statement.","page_number":229,"box":{"x":298,"y":845,"width":251,"height":11}},{"id":"9a385eb9-d3cd-461e-8f5d-b5944a0dee36","block_type":"box","text":"","page_number":229,"box":{"x":268,"y":862,"width":6,"height":4}},{"id":"27bac845-ccaa-4c1d-80ec-0277faf7da82","block_type":"box","text":"Any involvement in the production or design of fur pelt, raw","page_number":229,"box":{"x":284,"y":859,"width":471,"height":11}},{"id":"50c68591-1149-4b59-9ea1-93b33b6f1808","block_type":"box","text":"materials and products containing fur or fur trim. It also","page_number":229,"box":{"x":298,"y":873,"width":456,"height":11}},{"id":"00180b86-51f3-47c8-9094-e6edee00835f","block_type":"box","text":"includes companies that hunt, raise, trap animals for their fur.","page_number":229,"box":{"x":298,"y":886,"width":452,"height":11}},{"id":"acdd36aa-1957-410f-aa39-03bd9690571c","block_type":"box","text":"","page_number":229,"box":{"x":268,"y":904,"width":6,"height":4}},{"id":"60cb3354-6e13-40e5-af60-2b7fbc50d2e7","block_type":"box","text":"Involvement in the retail of threatened species, or components","page_number":229,"box":{"x":286,"y":901,"width":468,"height":11}},{"id":"b7e6370d-6270-4baf-b96e-87e9159dc7d2","block_type":"box","text":"thereof, with insufficient action to prevent it.","page_number":229,"box":{"x":297,"y":914,"width":321,"height":11}},{"id":"88b473c5-c4dd-487c-9647-dd6fd08b313a","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":230,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"ed328ae9-a9d0-4e92-943c-13c6f6aab33b","block_type":"box","text":"230","page_number":230,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"4d2f6040-254c-4a29-9066-c8bb23459aba","block_type":"box","text":"Aviva Investors: Confidential","page_number":230,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"d1ad09c6-64ce-4288-8b09-9e33f00ff18c","block_type":"box","text":"Genetic","page_number":230,"box":{"x":72,"y":53,"width":56,"height":9}},{"id":"340982aa-2768-47ea-9322-2c0007d7b795","block_type":"box","text":"Modification","page_number":230,"box":{"x":72,"y":67,"width":87,"height":9}},{"id":"3ed901e9-d488-4557-a9d3-b03d8ab40dd2","block_type":"box","text":"","page_number":230,"box":{"x":267,"y":57,"width":6,"height":4}},{"id":"08ec8a29-499c-460a-8ae7-d46f543a47ff","block_type":"box","text":"Companies that genetically modify plants (e.g. seeds, crops)","page_number":230,"box":{"x":285,"y":54,"width":469,"height":11}},{"id":"8ee34c1e-ad16-409f-943c-c1250205db8d","block_type":"box","text":"and other organisms.","page_number":230,"box":{"x":297,"y":68,"width":156,"height":11}},{"id":"df595262-37d1-4f29-b8ee-e4bf3c893c07","block_type":"box","text":"Pollution","page_number":230,"box":{"x":72,"y":116,"width":62,"height":9}},{"id":"11b9a980-c103-483a-b6ef-f0cb22ca7165","block_type":"box","text":"","page_number":230,"box":{"x":268,"y":86,"width":6,"height":4}},{"id":"5e2be1d3-b5b1-46b3-9603-43504edd25a4","block_type":"box","text":"Companies that are the subject to very severe controversies","page_number":230,"box":{"x":285,"y":83,"width":469,"height":11}},{"id":"adc14750-9963-4f98-9b29-294afda8c9c1","block_type":"box","text":"related to land use and biodiversity, toxic spills and releases,","page_number":230,"box":{"x":298,"y":96,"width":455,"height":11}},{"id":"66dc5f4f-1f51-4366-a2f9-d3445aa8f6b7","block_type":"box","text":"energy and climate change, water management, operational","page_number":230,"box":{"x":298,"y":110,"width":456,"height":11}},{"id":"7f7b645f-7f1b-4569-b4de-0021aad6ba7a","block_type":"box","text":"non-hazardous waste, environmental impact of products and","page_number":230,"box":{"x":298,"y":124,"width":456,"height":11}},{"id":"ee42f293-c745-495f-9c1c-b4a1b39599e9","block_type":"box","text":"service, and management of supply chain environmental","page_number":230,"box":{"x":298,"y":137,"width":456,"height":11}},{"id":"637fb678-8227-40e0-9274-f35e9275e47c","block_type":"box","text":"impact.","page_number":230,"box":{"x":298,"y":151,"width":52,"height":11}},{"id":"4a9cb838-3a62-47cf-a8e5-2b8dd3a7deab","block_type":"box","text":"People Exclusions","page_number":230,"box":{"x":63,"y":198,"width":146,"height":11}},{"id":"4ccdaf08-6c96-470b-88b1-f6a0e95ef467","block_type":"box","text":"Issue","page_number":230,"box":{"x":149,"y":221,"width":41,"height":9}},{"id":"d908bf75-bddb-4757-8776-48782f667590","block_type":"box","text":"Negative Screening Criteria","page_number":230,"box":{"x":412,"y":221,"width":217,"height":12}},{"id":"f43af3cc-bf5b-4c87-a240-d66aa5734589","block_type":"box","text":"Adult entertainment,","page_number":230,"box":{"x":71,"y":247,"width":195,"height":10}},{"id":"5a4482fc-9888-4e6b-bb31-d57af57641a0","block_type":"box","text":"pornography and","page_number":230,"box":{"x":72,"y":261,"width":194,"height":11}},{"id":"3352b8f2-4552-4b3f-aa2f-d182b0bb40ee","block_type":"box","text":"violence-related products","page_number":230,"box":{"x":71,"y":274,"width":187,"height":11}},{"id":"f510cec3-d915-494e-90a9-67d501a3ec89","block_type":"box","text":"","page_number":230,"box":{"x":316,"y":243,"width":6,"height":4}},{"id":"5cf9afd5-1d01-4343-88da-09ffcef6da87","block_type":"box","text":">10% of revenue from adult entertainment or","page_number":230,"box":{"x":334,"y":240,"width":421,"height":9}},{"id":"995270f8-3730-425e-8be2-29ee3221b6cd","block_type":"box","text":"pornography.","page_number":230,"box":{"x":347,"y":254,"width":96,"height":11}},{"id":"16e993e3-4aa7-4cc3-a1bb-e72bd69b4f02","block_type":"box","text":"","page_number":230,"box":{"x":316,"y":271,"width":6,"height":4}},{"id":"fd20abea-a4cb-49a1-9754-a2313108f69c","block_type":"box","text":"Any involvement in the manufacture or retail of civilian","page_number":230,"box":{"x":333,"y":268,"width":421,"height":11}},{"id":"b5b3b9a6-a6ed-47e8-b1a1-febd28ff9ddf","block_type":"box","text":"firearms.","page_number":230,"box":{"x":346,"y":282,"width":64,"height":8}},{"id":"5d240799-99e2-458c-83b3-06e457fa12e1","block_type":"box","text":"Alcohol","page_number":230,"box":{"x":71,"y":324,"width":54,"height":9}},{"id":"32ea3d8f-ac5d-400e-af39-9fe2ad7d9e04","block_type":"box","text":"","page_number":230,"box":{"x":316,"y":300,"width":6,"height":4}},{"id":"8d1abba2-68e8-47b3-8419-c0775810547c","block_type":"box","text":">10% of revenue from the manufacture of alcoholic","page_number":230,"box":{"x":334,"y":297,"width":420,"height":9}},{"id":"ec8cdf13-d602-44b4-b1e2-a2e7a29df540","block_type":"box","text":"products.","page_number":230,"box":{"x":347,"y":311,"width":66,"height":10}},{"id":"9e804bfa-78ef-46fa-a785-1cda44843b21","block_type":"box","text":"","page_number":230,"box":{"x":316,"y":328,"width":6,"height":4}},{"id":"99157a13-186c-40a9-9891-1e35ac774d08","block_type":"box","text":">25% of revenue from the distribution or sale of alcohol","page_number":230,"box":{"x":334,"y":325,"width":420,"height":9}},{"id":"14fd1427-25e6-4c4f-810e-a504648973d2","block_type":"box","text":"products (e.g. retail, hotels, restaurants and leisure","page_number":230,"box":{"x":347,"y":338,"width":407,"height":12}},{"id":"6b8b5c66-b6cf-43b4-bd9b-aedeafbfcbc2","block_type":"box","text":"industries).","page_number":230,"box":{"x":347,"y":352,"width":79,"height":11}},{"id":"4d9422d9-a233-4553-a6aa-56def546144e","block_type":"box","text":"Gambling","page_number":230,"box":{"x":72,"y":370,"width":70,"height":11}},{"id":"6ac520a8-4ca9-45b4-a9e7-723abe901a75","block_type":"box","text":"","page_number":230,"box":{"x":316,"y":373,"width":6,"height":5}},{"id":"49725d42-5593-4111-84a9-6523ef6b7533","block_type":"box","text":">10% of revenue from gambling related activities.","page_number":230,"box":{"x":334,"y":370,"width":366,"height":11}},{"id":"6651c41f-e59b-44f3-b523-696545e402aa","block_type":"box","text":"Social Controversies","page_number":230,"box":{"x":72,"y":401,"width":152,"height":9}},{"id":"4ed81a84-db31-4d6e-8bf6-3642f49b9db8","block_type":"box","text":"","page_number":230,"box":{"x":316,"y":391,"width":6,"height":4}},{"id":"6f472c9e-c66d-45ce-9873-f49253f18675","block_type":"box","text":"Companies that are subject to very severe controversies","page_number":230,"box":{"x":334,"y":388,"width":420,"height":11}},{"id":"16389a8d-be3b-49aa-a08d-4cc2a163b57e","block_type":"box","text":"related to a firm’s impact on Customers, Human Rights","page_number":230,"box":{"x":347,"y":402,"width":407,"height":11}},{"id":"a07fbdbd-573e-4938-ac49-be702f3ba5c9","block_type":"box","text":"& Community, and Labour Rights & Supply Chain.","page_number":230,"box":{"x":347,"y":415,"width":370,"height":12}},{"id":"133e5a48-9ebd-44cd-98f4-c3712c13f2d7","block_type":"box","text":"Military - weapons and","page_number":230,"box":{"x":72,"y":444,"width":194,"height":11}},{"id":"13f709ee-092a-4fb8-841a-2eed7f2f8ffd","block_type":"box","text":"weapon systems","page_number":230,"box":{"x":71,"y":458,"width":124,"height":10}},{"id":"a73691fb-8cc6-4403-99ab-ac22333f6d38","block_type":"box","text":"","page_number":230,"box":{"x":316,"y":434,"width":6,"height":4}},{"id":"3cbc7b42-208e-4bc3-ba73-03b2ddb1722d","block_type":"box","text":"Any involvement in the manufacture of whole weapons","page_number":230,"box":{"x":333,"y":430,"width":421,"height":12}},{"id":"a56fb5e2-1f5b-4ce0-89b0-7b0d33670679","block_type":"box","text":"systems, components or support systems (including","page_number":230,"box":{"x":346,"y":444,"width":408,"height":11}},{"id":"d10965fd-e8bc-4bc2-ae40-889330abf174","block_type":"box","text":"conventional, biological-chemical, cluster munitions,","page_number":230,"box":{"x":347,"y":458,"width":406,"height":11}},{"id":"63665d28-1107-4b9c-8fd5-abf7f5e1fd95","block_type":"box","text":"depleted uranium and nuclear weapons).","page_number":230,"box":{"x":346,"y":471,"width":303,"height":11}},{"id":"1e4a8ab2-3dd6-41f1-b150-dc121b2c8ca6","block_type":"box","text":"Tobacco","page_number":230,"box":{"x":71,"y":507,"width":64,"height":9}},{"id":"305704bd-8f9f-442d-b13f-3fa51ee401a4","block_type":"box","text":"","page_number":230,"box":{"x":316,"y":490,"width":6,"height":4}},{"id":"65d8304f-555c-40a8-bd65-a80c9a5d7546","block_type":"box","text":"Any involvement in the manufacture of tobacco related","page_number":230,"box":{"x":333,"y":486,"width":421,"height":12}},{"id":"6ba69a99-29b9-4038-b0b3-2bfd97e9e079","block_type":"box","text":"products.","page_number":230,"box":{"x":347,"y":500,"width":66,"height":11}},{"id":"7954670c-07ab-40ae-9d0b-6de26dd84060","block_type":"box","text":"","page_number":230,"box":{"x":316,"y":518,"width":6,"height":4}},{"id":"432795eb-9042-48e9-9bb7-6afd47f9307d","block_type":"box","text":">25% of turnover from the distribution or sale of tobacco","page_number":230,"box":{"x":334,"y":514,"width":420,"height":9}},{"id":"881270a7-2b3e-434d-9020-02dc7030bdcd","block_type":"box","text":"related products (e.g. retailers).","page_number":230,"box":{"x":347,"y":528,"width":231,"height":11}},{"id":"35ce3606-dedb-4742-9a50-7fb9a658c239","block_type":"box","text":"*From 2025, the threshold will reduce by 1% a year to 0% by 2035.","page_number":230,"box":{"x":62,"y":543,"width":495,"height":11}},{"id":"c2ba771c-2c7a-46bc-94ce-6c6fc5b4b3d4","block_type":"box","text":"**From 2025, the threshold will reduce by 1% a year to 0% by 2040.","page_number":230,"box":{"x":62,"y":570,"width":502,"height":11}},{"id":"c1a85930-8e4b-4759-83f0-1f89e4b8c8dc","block_type":"box","text":"***From 2025, the threshold will reduce by 5% a year to 0% by 2040.","page_number":230,"box":{"x":62,"y":597,"width":509,"height":11}},{"id":"67fda0f2-a955-4735-abc2-4fd535e145ea","block_type":"box","text":"The Investment Manager aims to adopt a practical and pragmatic approach. On rare occasions, a company may not","page_number":230,"box":{"x":62,"y":624,"width":861,"height":12}},{"id":"fce2e65d-4516-40da-a503-a1ddaf17e7a3","block_type":"box","text":"be excluded where its exposure to the negative investment criteria is minor, inconsequential or immaterial. Any","page_number":230,"box":{"x":62,"y":638,"width":861,"height":11}},{"id":"a53a6806-8616-488e-820d-2f6bb1b09143","block_type":"box","text":"overrides or additions to the exclusions will be at the discretion of Aviva Investors’ Sustainable Investments Team.","page_number":230,"box":{"x":62,"y":652,"width":844,"height":8}},{"id":"6d3bc50c-0495-4644-b6d7-d2272591e326","block_type":"box","text":"The screens are reviewed on an ongoing basis for relevance and effectiveness. Where the Investment Manager","page_number":230,"box":{"x":62,"y":679,"width":861,"height":11}},{"id":"6cb95838-02f6-4fa7-9a8c-7f336440b026","block_type":"box","text":"introduces new screens or revises the criteria of existing screens (for example, changes to the applicable revenue","page_number":230,"box":{"x":62,"y":693,"width":861,"height":11}},{"id":"634a86cb-886a-4fdf-8e77-38dfff71d3ce","block_type":"box","text":"thresholds), and the application of such new screens or revisions identifies that investments currently held now require","page_number":230,"box":{"x":62,"y":706,"width":861,"height":11}},{"id":"328b5919-5a09-4e1c-99fe-cf0c7a77ea62","block_type":"box","text":"exclusion, disinvestment will occur as soon as reasonably practicable having regard to the interests of investors in","page_number":230,"box":{"x":62,"y":720,"width":860,"height":11}},{"id":"1c46813c-1cac-4df8-80d7-b7bfbaecc6f8","block_type":"box","text":"the Stewardship Funds. Such disinvestment will typically be within 90 days, although may occur for a total period of","page_number":230,"box":{"x":62,"y":733,"width":861,"height":12}},{"id":"eb8aeaba-e519-4a26-acc3-117c48b53a36","block_type":"box","text":"up to 6 months where the Investment Manager considers it is in the interest of investors to do so. Where disinvestment","page_number":230,"box":{"x":63,"y":747,"width":860,"height":11}},{"id":"789302af-3fa6-4e98-8b0c-c0692868d1b9","block_type":"box","text":"is either not possible, for example due to suspension of trading, or where it is deemed to have an adverse impact on","page_number":230,"box":{"x":62,"y":761,"width":860,"height":11}},{"id":"84064375-7a89-4b4e-9cc1-c07962259478","block_type":"box","text":"investors, for example due to proximity to a bond’s maturity date, the ACS Manager and Investment Manager may","page_number":230,"box":{"x":62,"y":774,"width":861,"height":12}},{"id":"336ba507-0d96-4539-8d23-d5249441a997","block_type":"box","text":"agree that the divestment period may be extended beyond 6 months.","page_number":230,"box":{"x":62,"y":788,"width":510,"height":11}},{"id":"170ea066-05f7-46cc-9a61-98d47147bfc2","block_type":"box","text":"The list of excluded companies is monitored on an ongoing basis by the Investment Manager. Through this on-going","page_number":230,"box":{"x":62,"y":816,"width":860,"height":11}},{"id":"20530908-9ed6-43da-9602-3618b6df9f75","block_type":"box","text":"monitoring, investments currently held which are identified as now requiring exclusion will be disposed of as soon as","page_number":230,"box":{"x":62,"y":829,"width":861,"height":11}},{"id":"557f6ff0-e5a1-42c4-85c6-c7916f163687","block_type":"box","text":"reasonably practicable having regard to the interests of investors in the Stewardship Funds. The Investment Manager","page_number":230,"box":{"x":63,"y":843,"width":860,"height":11}},{"id":"61d703c7-fc58-4ef6-8b76-0f36e20be734","block_type":"box","text":"endeavours to disinvest from such assets within 90 days of identifying that they no longer pass the screens. Where","page_number":230,"box":{"x":62,"y":857,"width":861,"height":11}},{"id":"c9839c4c-41e8-4045-b00d-05b22e8919ba","block_type":"box","text":"disinvestment is either not possible, for example due to suspension of trading, or where it is deemed to have an","page_number":230,"box":{"x":62,"y":870,"width":860,"height":11}},{"id":"718cdb75-f7a8-485b-b612-4d9611a4d10d","block_type":"box","text":"adverse impact on investors, for example due to proximity to a bonds maturity date, the ACS Manager and Investment","page_number":230,"box":{"x":62,"y":884,"width":861,"height":11}},{"id":"bb8ca5da-90ce-47f0-8f8f-7201c9c99d45","block_type":"box","text":"Manager may agree that the divestment period may be extended beyond 90 days.","page_number":230,"box":{"x":63,"y":898,"width":607,"height":11}},{"id":"ece43f84-9557-4813-93bb-cdd55f3dfc1f","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":231,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"3c134c9b-53af-4f40-9dc1-118ad9236a97","block_type":"box","text":"231","page_number":231,"box":{"x":780,"y":940,"width":17,"height":6}},{"id":"3ee5019b-7b42-4dba-aa6e-292e405eff62","block_type":"box","text":"Aviva Investors: Confidential","page_number":231,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"1e459fd4-a0c5-4c6f-a208-847ab8ccc104","block_type":"box","text":"The stewardship exclusions mean that the Stewardship Funds are not permitted to invest: (i) in the shares and bonds","page_number":231,"box":{"x":62,"y":52,"width":861,"height":12}},{"id":"6e433f4b-b9d1-40b6-8ee8-81cc099426a8","block_type":"box","text":"issued by any excluded companies; or (ii) with respect to their minimum stewardship allocation, in any asset where","page_number":231,"box":{"x":62,"y":66,"width":861,"height":11}},{"id":"e4fce3f3-8fff-471d-8150-cefb843e695c","block_type":"box","text":"there is not sufficient sustainability data available for the screens to be effective (for example, cash, certain derivatives,","page_number":231,"box":{"x":62,"y":80,"width":860,"height":11}},{"id":"4287d0b5-cec7-449e-9c0b-83bfc8eefd92","block_type":"box","text":"and government bonds and supranational bonds (in the case of the AI Stewardship Fixed Interest Fund, excluding","page_number":231,"box":{"x":62,"y":93,"width":860,"height":12}},{"id":"1823fae2-a8e3-40b1-8381-3dba8f046078","block_type":"box","text":"GSS bonds)).","page_number":231,"box":{"x":62,"y":107,"width":100,"height":11}},{"id":"0db42c37-6983-437d-9fa3-21b1579168e8","block_type":"box","text":"The stewardship exclusions are also not effective where the relevant Stewardship Fund has the following indirect","page_number":231,"box":{"x":62,"y":134,"width":861,"height":12}},{"id":"feb4b198-7cfc-4acd-a55e-218dba7dd86d","block_type":"box","text":"exposure to an excluded company:","page_number":231,"box":{"x":62,"y":148,"width":258,"height":11}},{"id":"aa248a2b-ed7c-43ee-b747-bb6dd6429551","block_type":"box","text":"","page_number":231,"box":{"x":92,"y":166,"width":6,"height":4}},{"id":"d4116a22-66dd-4e41-a5cf-584fbd5c3885","block_type":"box","text":"The Sub-Fund has indirect exposure to a broad-based financial index and excluded companies are","page_number":231,"box":{"x":122,"y":163,"width":801,"height":11}},{"id":"06a38a01-b21f-4e45-bc16-7e73bcbf69f6","block_type":"box","text":"constituents of the financial index;","page_number":231,"box":{"x":123,"y":176,"width":249,"height":11}},{"id":"c34f0cb0-0a31-46b1-915c-b010fb59c6ce","block_type":"box","text":"","page_number":231,"box":{"x":92,"y":194,"width":6,"height":4}},{"id":"37c3a875-8125-4347-8ab2-9b871c000266","block_type":"box","text":"The Sub-Fund engages in derivative short selling of financial instruments issued by an excluded company;","page_number":231,"box":{"x":122,"y":191,"width":788,"height":11}},{"id":"d0804902-e6e5-40cb-a291-8854a68ca9d2","block_type":"box","text":"","page_number":231,"box":{"x":92,"y":208,"width":6,"height":5}},{"id":"a1877a9b-3bdd-4d30-ab51-c438033ae4a1","block_type":"box","text":"The Sub-Fund invests in other funds that do not apply the stewardship screens.","page_number":231,"box":{"x":122,"y":205,"width":588,"height":11}},{"id":"bf419093-4451-42f1-8d1d-5903b37df353","block_type":"box","text":"However, with the exception of GSS bonds, where the stewardship exclusions are not effective and investments of","page_number":231,"box":{"x":63,"y":239,"width":860,"height":11}},{"id":"f8d1138d-df9d-498d-acac-eb1df7b5a2fe","block_type":"box","text":"this type that could potentially expose the Sub-Fund to excluded companies, such assets may not be held as part of","page_number":231,"box":{"x":62,"y":253,"width":861,"height":11}},{"id":"3ec56b0b-7ce9-4f67-b383-8838e369a9e4","block_type":"box","text":"the Sub-Fund’s minimum stewardship allocation.","page_number":231,"box":{"x":62,"y":267,"width":359,"height":11}},{"id":"30895a36-0398-422e-9a5c-da014dbcccc6","block_type":"box","text":"For government bonds that are not GSS bonds, the Investment Manager ensures the three pillars are not undermined","page_number":231,"box":{"x":63,"y":294,"width":859,"height":11}},{"id":"0945843b-75e7-47c4-ad90-8cd34257f7e3","block_type":"box","text":"by not investing in sovereign issuers captured by sanctions policy and/or with an Aviva Investors score of “2.5” or","page_number":231,"box":{"x":62,"y":307,"width":861,"height":12}},{"id":"1191cc50-45bf-4a10-8dbd-95ab365a5477","block_type":"box","text":"below. This score is produced by the Investment Manager’s model that looks at the ESG profile of sovereigns. Scores","page_number":231,"box":{"x":62,"y":321,"width":861,"height":11}},{"id":"ad97490a-f3d1-48eb-851c-cef8e37cd287","block_type":"box","text":"range from 0 to 10, with a low score indicating a relatively weak ESG profile. The Investment Manager’s view is that","page_number":231,"box":{"x":63,"y":335,"width":860,"height":11}},{"id":"6d1b5ded-bd19-4b93-9bac-e4b59c14f3bc","block_type":"box","text":"automatically excluding sovereign issuers with a score of 2.5 or below is appropriate for the Sub-Funds.","page_number":231,"box":{"x":62,"y":348,"width":766,"height":12}},{"id":"8ccf4559-214a-4cab-8fdf-4a89b2fe42a6","block_type":"box","text":"Companies captured as having very severe controversies (Red Flags) by MSCI are not investible by the Sub-Funds.","page_number":231,"box":{"x":62,"y":376,"width":860,"height":11}},{"id":"8371168d-0260-4ab2-9082-cff10fd24111","block_type":"box","text":"However, if a company receives a Red Flag post-investment, the controversy report and supporting evidence will be","page_number":231,"box":{"x":63,"y":390,"width":860,"height":11}},{"id":"7f28d991-5273-41fe-b1e2-1acbff29f611","block_type":"box","text":"assessed for additional validation before it is placed into a divestment window.","page_number":231,"box":{"x":62,"y":403,"width":579,"height":11}},{"id":"70968519-811c-4239-bd66-986c6835a61c","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":232,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"31722fcf-23b2-4f3a-8e1e-b6da8870772d","block_type":"box","text":"232","page_number":232,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"ca396cb4-9ce5-4e10-91cf-e6d9f658ad25","block_type":"box","text":"Aviva Investors: Confidential","page_number":232,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"6f490dea-4988-4eda-b0b6-1d1c624ec990","block_type":"box","text":"APPENDIX 4","page_number":232,"box":{"x":443,"y":53,"width":99,"height":8}},{"id":"849b7b82-7df2-4181-8396-3bf9a884e6d9","block_type":"box","text":"RESPONSIBLE INVESTMENT APPROACH FOR CORE FUNDS","page_number":232,"box":{"x":249,"y":72,"width":488,"height":9}},{"id":"233a2abc-21e8-4a5c-9fac-e26a883f7ca5","block_type":"box","text":"The Investment Manager will use an ESG Overlay when selecting companies such that the strategy of each Core","page_number":232,"box":{"x":62,"y":111,"width":861,"height":12}},{"id":"51e90340-c11e-418a-915b-da02555b83df","block_type":"box","text":"Fund is designed to deliver a higher ESG score and lower carbon intensity score, on average, over a 12 month rolling","page_number":232,"box":{"x":63,"y":125,"width":859,"height":11}},{"id":"2c69984f-66ac-4abc-a492-1d02103bb3b9","block_type":"box","text":"period (measured using month end data) than its benchmark Index (as specified in each Sub-Fund’s investment","page_number":232,"box":{"x":62,"y":139,"width":861,"height":11}},{"id":"c89efaf7-1047-4cc1-b00d-13f1edbabec9","block_type":"box","text":"objective), whilst also seeking to minimise the Core Fund’s tracking error to that Index (as defined in the expected","page_number":232,"box":{"x":62,"y":152,"width":860,"height":11}},{"id":"e0dce26f-475c-45b5-ae9b-b5ba24e9f526","block_type":"box","text":"average yearly tracking error range specified in each Sub-Fund’s investment policy).","page_number":232,"box":{"x":62,"y":166,"width":624,"height":11}},{"id":"e5bb4d42-835c-4c34-8f6c-6224d1b8201d","block_type":"box","text":"Portfolio construction relies on a two-step process:","page_number":232,"box":{"x":63,"y":186,"width":372,"height":11}},{"id":"a2890e49-28f2-4f0f-81ae-ff8c3af43a9f","block_type":"box","text":"Application of the baseline exclusion policy described above to the relevant Core Fund’s benchmark Index universe,","page_number":232,"box":{"x":62,"y":205,"width":860,"height":11}},{"id":"2bf68131-bb25-44fb-861c-4e29b5594487","block_type":"box","text":"removing investments relating to certain controversial weapons, thermal coal, tobacco and companies Aviva Investors","page_number":232,"box":{"x":63,"y":219,"width":860,"height":11}},{"id":"54bee3c0-9212-44fa-a8d6-7161b2341d7f","block_type":"box","text":"does not consider meet the standards of the UN Global Compact initiative.","page_number":232,"box":{"x":62,"y":232,"width":550,"height":12}},{"id":"7009669e-6ef0-4990-a157-1d69cae78ae0","block_type":"box","text":"A portfolio optimisation model is then used to create the Sub-Fund’s portfolio (an ESG Overlay) such that holdings","page_number":232,"box":{"x":62,"y":252,"width":861,"height":11}},{"id":"c95bcd12-f22a-415d-999c-4f09ab151a14","block_type":"box","text":"will be either overweight, underweight or potentially excluded relative to the relevant benchmark Index, based on both","page_number":232,"box":{"x":62,"y":266,"width":860,"height":11}},{"id":"734c1257-8fa6-49ba-9856-cf23238b6855","block_type":"box","text":"their ESG scores and carbon intensity scores (the ESG Overlay) and potential to deliver returns similar to the Index.","page_number":232,"box":{"x":62,"y":279,"width":860,"height":11}},{"id":"0218d7d1-7835-4fcd-bcbd-e123aff4edab","block_type":"box","text":"The ESG Overlay uses a range of data inputs, including MSCI’s ESG scores*, MSCI’s carbon intensity scores**, the","page_number":232,"box":{"x":62,"y":293,"width":861,"height":11}},{"id":"78a93415-221d-4851-94e1-8baf8c09ffca","block_type":"box","text":"latest portfolio and benchmark Index weights, covariance data relating to companies on the benchmark Index, and","page_number":232,"box":{"x":62,"y":307,"width":860,"height":11}},{"id":"7b55ce31-8834-4efc-83e4-28eae828b87d","block_type":"box","text":"the portfolio construction guidelines designed by the Investment Manager to deliver the ESG Overlay within the target","page_number":232,"box":{"x":62,"y":320,"width":861,"height":11}},{"id":"bb665ddc-9504-43f2-9530-9314f7032a1d","block_type":"box","text":"tracking error range, for example, consideration of exposure per sector, industry or country, as relevant.","page_number":232,"box":{"x":62,"y":334,"width":766,"height":11}},{"id":"844cfc67-46dc-48cd-8243-76d65db663c7","block_type":"box","text":"The individual companies do not need to achieve a specific or minimum ESG score or carbon intensity score to be","page_number":232,"box":{"x":62,"y":353,"width":861,"height":12}},{"id":"3a834ed8-7ad4-48de-9ea5-51ae422e5d6d","block_type":"box","text":"selected for investment. Where it is difficult or costly to invest directly in individual companies, or individual companies","page_number":232,"box":{"x":62,"y":367,"width":861,"height":11}},{"id":"34490996-61fe-4e94-810e-c4e9a2e3e7e1","block_type":"box","text":"within certain markets, the Core Funds may use derivatives, for example TRS, or other funds, for example Exchange","page_number":232,"box":{"x":62,"y":381,"width":861,"height":11}},{"id":"8b45481c-6e2b-4126-ace1-37db9cd690d9","block_type":"box","text":"Traded Funds (ETFs), to obtain exposure for the Sub-Funds. The ESG Overlay will still apply in these circumstances,","page_number":232,"box":{"x":62,"y":394,"width":860,"height":12}},{"id":"e2fdd35e-b061-4389-8cbc-0a808b92ca62","block_type":"box","text":"and the overlay process shall seek to look through the derivative or other fund to ascertain the ESG and carbon","page_number":232,"box":{"x":62,"y":408,"width":860,"height":11}},{"id":"03c7ccbd-9e83-4311-9525-447ff8f0df4a","block_type":"box","text":"intensity scores. Such look through may use the index attaching to the derivative or other fund to derive these ESG","page_number":232,"box":{"x":62,"y":422,"width":860,"height":11}},{"id":"b0b37ab3-63c6-4463-a1f7-6dea073d59cf","block_type":"box","text":"and carbon intensity scores.","page_number":232,"box":{"x":62,"y":436,"width":207,"height":11}},{"id":"e625a05e-3556-47bf-a5b7-3abf1fcc39cc","block_type":"box","text":"The application of the ESG Overlay will be refreshed, as a minimum, at the end of the quarterly rebalancing period of","page_number":232,"box":{"x":62,"y":455,"width":861,"height":11}},{"id":"15e1a3d0-001e-4bfe-bf1a-4b9437a1c657","block_type":"box","text":"each benchmark Index and/or on an ad hoc basis when the Investment Manager is of the opinion that market","page_number":232,"box":{"x":62,"y":469,"width":861,"height":11}},{"id":"77b39bbe-d64b-4820-9c6e-64e0841cfc1f","block_type":"box","text":"conditions dictate, taking into account any changes to companies in the benchmark Index, the latest available ESG","page_number":232,"box":{"x":62,"y":482,"width":860,"height":12}},{"id":"5f6738b9-ee4e-4c0b-9f6a-687733600c30","block_type":"box","text":"data, market conditions, and other data used in the investment process. At each refresh, the portfolio will be","page_number":232,"box":{"x":62,"y":496,"width":861,"height":11}},{"id":"d658a0f2-d35e-4ae0-b9be-b1846cc10da5","block_type":"box","text":"rebalanced as necessary according to internal investment guidelines to ensure that the ESG score is higher and","page_number":232,"box":{"x":63,"y":510,"width":859,"height":11}},{"id":"100a9648-9b75-4675-bb24-2e24a1b43e96","block_type":"box","text":"carbon intensity is lower relative to the benchmark Index. The ESG score and carbon intensity of a Sub-Fund, as well","page_number":232,"box":{"x":62,"y":523,"width":861,"height":11}},{"id":"4088e4d1-cd0f-455e-8bb2-3b4ebba9dd06","block_type":"box","text":"as the uplift of a Sub-Fund’s ESG score and carbon intensity relative to the benchmark Index, will fluctuate because","page_number":232,"box":{"x":62,"y":537,"width":861,"height":11}},{"id":"54e4e517-3518-4f3f-8c49-436575df7d64","block_type":"box","text":"the Investment Manager prioritises achieving the Sub-Fund’s financial objectives and doesn’t manage to set ESG","page_number":232,"box":{"x":62,"y":551,"width":860,"height":11}},{"id":"a5270d4b-28d8-42be-a1e5-89befdce25ae","block_type":"box","text":"scores or carbon intensity levels. Through application of this ESG Overlay, the Investment Manager will aim to deliver","page_number":232,"box":{"x":62,"y":564,"width":861,"height":12}},{"id":"403993ba-8ed3-4197-ada0-83379e28454f","block_type":"box","text":"an improvement of the ESG score and carbon intensity score versus the benchmark Index, with low tracking error.","page_number":232,"box":{"x":62,"y":578,"width":845,"height":11}},{"id":"5961c6ad-f585-4fe9-b34e-b61924b651d3","block_type":"box","text":"The ESG score and carbon intensity score of each Core Fund portfolio can be assessed against the ESG score and","page_number":232,"box":{"x":62,"y":597,"width":860,"height":12}},{"id":"b11b88e8-dbc9-41e2-97aa-bba3e1146356","block_type":"box","text":"carbon intensity score of the relevant benchmark Index (with both the portfolio and benchmark Index scores being","page_number":232,"box":{"x":62,"y":611,"width":860,"height":11}},{"id":"2e6edcd8-a43f-424e-b1b7-f62bc68b9e32","block_type":"box","text":"calculated using MSCI’s ESG scores* and carbon intensity scores**), which will be made available to investors on a","page_number":232,"box":{"x":62,"y":625,"width":861,"height":11}},{"id":"181f5bd6-e0a3-476a-88dc-4ced73534bbf","block_type":"box","text":"quarterly basis, based on the latest 12 month rolling data.","page_number":232,"box":{"x":62,"y":639,"width":424,"height":11}},{"id":"574d31c3-17b7-4c19-919e-cd1346a57e7a","block_type":"box","text":"*MSCI’s ESG scores, ranging from 10 (best) to 0 (worst) are intended to assess a company’s resilience to financially","page_number":232,"box":{"x":62,"y":658,"width":861,"height":11}},{"id":"39c15d84-7102-4a86-b0d4-7b7c5de1aec0","block_type":"box","text":"material environmental, societal and","page_number":232,"box":{"x":62,"y":672,"width":283,"height":10}},{"id":"ff9a7fb7-7043-4394-8347-ae79b6b7bab7","block_type":"box","text":"governance risks, being risks to financial performance relative to other","page_number":232,"box":{"x":356,"y":672,"width":567,"height":11}},{"id":"838eede1-c474-47c2-bd27-3c10a7a606ed","block_type":"box","text":"companies in the same sector. MSCI ESG scores are not intended to be a measure of corporate “goodness” or a","page_number":232,"box":{"x":62,"y":685,"width":861,"height":12}},{"id":"d5616313-add0-4d52-9699-bb5823547a10","block_type":"box","text":"synonym for sustainable investing. MSCI scores assess how companies manage risk compared with peers, not across","page_number":232,"box":{"x":62,"y":699,"width":861,"height":11}},{"id":"5fcd520f-91b2-472f-9424-686e0140378a","block_type":"box","text":"industries.","page_number":232,"box":{"x":62,"y":713,"width":74,"height":9}},{"id":"4ee53ed6-7a69-497b-af1c-de58716959fe","block_type":"box","text":"**Carbon intensity scores measure how carbon-intensive a company’s activities are by determining the weighted","page_number":232,"box":{"x":62,"y":732,"width":860,"height":12}},{"id":"7bc2df50-99b2-4af2-b31a-381cfb280673","block_type":"box","text":"average carbon dioxide equivalent (CO2 e) emissions per unit of sales of each company, and provides a comparable","page_number":232,"box":{"x":62,"y":746,"width":861,"height":11}},{"id":"5e57f694-5c2e-4756-860f-3a4ed3be282d","block_type":"box","text":"metric for assessment against peers, portfolios and benchmarks.","page_number":232,"box":{"x":62,"y":760,"width":479,"height":11}},{"id":"2406a26f-cd25-43db-baa0-dc00e0d3ec48","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":233,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"8072348f-728d-4d39-b98e-ded2b523ad1b","block_type":"box","text":"233","page_number":233,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"eed1d653-2015-4ef2-bac6-8a6e70d7b371","block_type":"box","text":"Aviva Investors: Confidential","page_number":233,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"77fff90d-d950-476a-898f-dc06ddee323e","block_type":"box","text":"APPENDIX 5","page_number":233,"box":{"x":443,"y":72,"width":99,"height":9}},{"id":"e589f816-50c5-4cba-a12f-9c6cd563e02a","block_type":"box","text":"OTHER COLLECTIVE INVESTMENT SCHEMES MANAGED BY AVIVA INVESTORS UK FUND SERVICES","page_number":233,"box":{"x":84,"y":105,"width":817,"height":9}},{"id":"0401c5d8-f07e-4ed3-ab29-159121eb2d94","block_type":"box","text":"LIMITED","page_number":233,"box":{"x":460,"y":119,"width":65,"height":9}},{"id":"19c0771e-abcb-43d1-8834-ff4cb9277bed","block_type":"box","text":"Sub-Funds of the Aviva Investors Passive Funds ACS","page_number":233,"box":{"x":62,"y":158,"width":428,"height":9}},{"id":"1b3c6238-1b21-43c6-a534-22134f8f55fb","block_type":"box","text":"Name","page_number":233,"box":{"x":346,"y":186,"width":58,"height":10}},{"id":"a6ba4976-d694-433c-8783-08d73eb04da8","block_type":"box","text":"Regulatory Status","page_number":233,"box":{"x":650,"y":185,"width":164,"height":14}},{"id":"95860cb6-e4e6-4392-ab9c-2aedd75cd907","block_type":"box","text":"AI UK Equity Index (Custom Screened) Fund","page_number":233,"box":{"x":166,"y":217,"width":333,"height":11}},{"id":"2d0e17a1-4dad-4d1d-8409-1c966ff2b75d","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":210,"width":259,"height":8}},{"id":"3e27ebac-1306-4023-9ebf-3e4a9b0e39f8","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":223,"width":26,"height":9}},{"id":"baa6f723-f2dd-4ad0-8b9b-e1efa5339445","block_type":"box","text":"AI US Equity Index (Custom Screened) Fund","page_number":233,"box":{"x":166,"y":264,"width":333,"height":11}},{"id":"c96b560c-2a5b-4875-b88e-321214e83a6c","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":256,"width":259,"height":9}},{"id":"795b1f9c-f128-4966-ad54-e7db6084833c","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":270,"width":26,"height":9}},{"id":"57e36d3a-cfd1-495d-8676-76e3d686d4b6","block_type":"box","text":"AI Developed European ex UK Equity Index (Custom","page_number":233,"box":{"x":166,"y":310,"width":393,"height":12}},{"id":"9e6911ed-7e8c-4737-857d-3bf567dc686b","block_type":"box","text":"Screened) Fund","page_number":233,"box":{"x":167,"y":324,"width":118,"height":11}},{"id":"af7e3880-3ccd-44eb-bc18-e38128a176b9","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":303,"width":259,"height":9}},{"id":"150aa911-fbdc-4675-b9a8-11b835eabc88","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":317,"width":26,"height":9}},{"id":"2d96821e-15a1-447d-a8c8-cbfe320e9484","block_type":"box","text":"AI Japanese Equity Index (Custom Screened) Fund","page_number":233,"box":{"x":166,"y":371,"width":383,"height":11}},{"id":"47482004-b4cb-4275-a0d0-891b63002a68","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":364,"width":259,"height":9}},{"id":"0274762f-e761-4250-be0d-97c77883f7ea","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":378,"width":26,"height":8}},{"id":"5e3b38fd-798e-4120-b2c5-be0f95b4c459","block_type":"box","text":"AI Developed Asia Pacific Ex Japan Equity Index","page_number":233,"box":{"x":166,"y":418,"width":364,"height":11}},{"id":"c71207b5-3b97-4cf1-81b2-81f8e319e9c3","block_type":"box","text":"(Custom Screened) Fund","page_number":233,"box":{"x":167,"y":432,"width":186,"height":11}},{"id":"c814f0d0-eda6-4e2e-a9dd-44073c019d55","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":411,"width":259,"height":9}},{"id":"671dac85-7b4d-4b6b-afae-159409406421","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":425,"width":26,"height":8}},{"id":"e4b5005a-564b-4468-af6c-085e9f78252b","block_type":"box","text":"AI Developed World ex UK Equity Index (Custom","page_number":233,"box":{"x":166,"y":478,"width":364,"height":12}},{"id":"2409d127-d39c-4a14-b4da-abaf2bfbda87","block_type":"box","text":"Screened) Fund","page_number":233,"box":{"x":167,"y":492,"width":118,"height":11}},{"id":"15cb3cfe-ebfd-454e-8038-79790b0702e2","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":471,"width":259,"height":9}},{"id":"fcccda95-8549-497b-8659-2ead11a7bd8e","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":485,"width":26,"height":9}},{"id":"702a76fd-b74a-415e-beb0-f3b35524c1b9","block_type":"box","text":"AI UK Gilts Over 15 Years Index Fund","page_number":233,"box":{"x":166,"y":539,"width":283,"height":9}},{"id":"a199f9a6-2673-4a78-9bc6-9e1b3ca5518c","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":532,"width":259,"height":9}},{"id":"04c8172c-a65c-4565-8a56-6d1e23fc11a9","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":546,"width":26,"height":8}},{"id":"cffe5b67-3000-46bd-baca-a803c5236e69","block_type":"box","text":"AI UK Gilts All Stocks Index Fund","page_number":233,"box":{"x":166,"y":586,"width":248,"height":9}},{"id":"dfc37c82-2ab1-4bdf-82c7-01b43cf2f1b5","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":579,"width":259,"height":9}},{"id":"eea89b8d-f727-47ad-8d5a-676c37adc239","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":593,"width":26,"height":8}},{"id":"cd369676-a0a3-4d10-b645-4418c2363e0b","block_type":"box","text":"AI Non-Gilt Bond Over 15 Years Index Fund","page_number":233,"box":{"x":166,"y":633,"width":326,"height":9}},{"id":"af2ade2d-2368-456b-9ab3-023957a05f21","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":626,"width":259,"height":9}},{"id":"60dbf2b6-6778-4124-a033-4c4f11f41a1b","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":640,"width":26,"height":8}},{"id":"fcf2556a-bbab-4096-9f35-9ab9d05ea5ea","block_type":"box","text":"AI Index-Linked Gilts Over 5 Years Index Fund","page_number":233,"box":{"x":166,"y":673,"width":346,"height":9}},{"id":"6c760fa8-d9ad-4214-8333-dd6a1e1f19ea","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":673,"width":259,"height":9}},{"id":"1bc5fa79-5f95-4030-822f-e6fb7d6e94af","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":687,"width":26,"height":8}},{"id":"1bf0824b-db8e-4861-b2cf-848152ca24c1","block_type":"box","text":"AI Non-Gilt Bond All Stocks Index Fund","page_number":233,"box":{"x":166,"y":712,"width":292,"height":9}},{"id":"ecb93f1a-6570-4ce2-8c9b-2b4710e56817","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":712,"width":259,"height":9}},{"id":"a119550b-f7e9-4544-8323-fb66ea0d430b","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":726,"width":26,"height":9}},{"id":"3513fe0c-6e48-4feb-9478-387d95f952b5","block_type":"box","text":"AI Developed Overseas Government Bond (Ex UK)","page_number":233,"box":{"x":166,"y":752,"width":380,"height":11}},{"id":"c64c508f-60fb-477f-9fad-9b9251454194","block_type":"box","text":"Index Fund","page_number":233,"box":{"x":167,"y":766,"width":82,"height":9}},{"id":"771402a4-b367-4ed6-8a57-8e250f5d728e","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":752,"width":259,"height":9}},{"id":"206bb931-48d1-445f-87e7-f2bcf301fee1","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":766,"width":26,"height":9}},{"id":"df38a16c-fcad-44cc-90bf-ca4ac5f15b9f","block_type":"box","text":"AI 60:40 Global Equity Index (Custom Screened) Fund","page_number":233,"box":{"x":166,"y":806,"width":405,"height":11}},{"id":"652e0ea9-a7ca-44cc-bf75-574657517218","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":806,"width":259,"height":9}},{"id":"141323a7-4e94-4ec0-ae0d-0d79d65b7fb5","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":820,"width":26,"height":8}},{"id":"55544776-1c44-4d4c-91f9-6e8d9d73e362","block_type":"box","text":"AI 50:50 Global Equity Index (Custom Screened) Fund","page_number":233,"box":{"x":166,"y":845,"width":405,"height":12}},{"id":"d15000bb-60d2-47ff-9030-fe824a147b9c","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":845,"width":259,"height":9}},{"id":"12d8bb93-8096-4dff-9750-45178554da11","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":859,"width":26,"height":9}},{"id":"877c850b-01b8-49eb-9546-04f7d2c8a61e","block_type":"box","text":"AI 40:60 Global Equity Index (Custom Screened) Fund","page_number":233,"box":{"x":166,"y":885,"width":405,"height":11}},{"id":"a9cedc79-4fde-448c-a572-2cc60b77d8f5","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":233,"box":{"x":598,"y":885,"width":259,"height":9}},{"id":"ed7da03c-17e0-4459-b96d-c178dd051990","block_type":"box","text":"AIF","page_number":233,"box":{"x":596,"y":899,"width":26,"height":9}},{"id":"5e0b0401-10b3-4690-b822-84a71457949f","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":234,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"49fcbc5f-5bda-4b8d-be93-86d122920407","block_type":"box","text":"234","page_number":234,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"ec3d3118-e9a1-43dd-b1f8-f1b56db224ec","block_type":"box","text":"Aviva Investors: Confidential","page_number":234,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"9820c40b-6b38-4a0d-b026-7a301be9d64e","block_type":"box","text":"AI Multi-Asset (40-85% Shares) Index Fund","page_number":234,"box":{"x":166,"y":53,"width":323,"height":11}},{"id":"59e6dc82-5cd3-43a1-9b91-34c843af9fe6","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":234,"box":{"x":598,"y":53,"width":259,"height":9}},{"id":"13e409cf-f61c-4f32-ba3a-998ea678e4ef","block_type":"box","text":"AIF","page_number":234,"box":{"x":596,"y":67,"width":26,"height":8}},{"id":"5cea4aed-6bb5-4811-9578-39022ca2d506","block_type":"box","text":"AI 30:70 Global Equity (Currency Hedged) Index","page_number":234,"box":{"x":166,"y":87,"width":360,"height":11}},{"id":"bc410c1b-b906-4080-9542-4a5265901588","block_type":"box","text":"(Custom Screened) Fund","page_number":234,"box":{"x":167,"y":101,"width":186,"height":11}},{"id":"4144be41-301e-44ba-8088-f51bbebb51d9","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":234,"box":{"x":598,"y":87,"width":259,"height":9}},{"id":"a16df136-4be7-4c2c-9c88-5a0bf7944414","block_type":"box","text":"AIF","page_number":234,"box":{"x":596,"y":101,"width":26,"height":8}},{"id":"faec0086-2aa5-4f74-8c5d-4fa394bf3bfa","block_type":"box","text":"AI Continental European Equity Index (Custom","page_number":234,"box":{"x":166,"y":121,"width":347,"height":11}},{"id":"897020ac-477e-4d56-875b-132b496a83fb","block_type":"box","text":"Screened) Fund","page_number":234,"box":{"x":167,"y":134,"width":118,"height":12}},{"id":"75d4c292-fa6b-40bd-9dd0-183fe62f270e","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":234,"box":{"x":598,"y":121,"width":259,"height":9}},{"id":"fa6942f5-70ae-41d8-b47e-0ba99dc575bc","block_type":"box","text":"AIF","page_number":234,"box":{"x":596,"y":135,"width":26,"height":8}},{"id":"7888d86b-4916-46aa-841b-18ddae1b55dd","block_type":"box","text":"AI UK Equity (Ex Aviva, Investment Trusts) Index","page_number":234,"box":{"x":166,"y":174,"width":364,"height":11}},{"id":"f66ef0bd-df90-4dec-8f6a-f364f2ff1493","block_type":"box","text":"(Custom Screened) Fund","page_number":234,"box":{"x":167,"y":188,"width":186,"height":11}},{"id":"86c148ea-1f80-4711-812e-2407323d005d","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":234,"box":{"x":598,"y":174,"width":259,"height":9}},{"id":"d09c9972-6730-4710-b980-d9e25008b4b0","block_type":"box","text":"AIF","page_number":234,"box":{"x":596,"y":188,"width":26,"height":9}},{"id":"4f457e46-f8af-4f83-8753-8899a77169f5","block_type":"box","text":"AI Pacific ex Japan Equity Index Fund","page_number":234,"box":{"x":166,"y":228,"width":282,"height":11}},{"id":"d99d8579-de69-4f18-afad-dbeef85a4f4a","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":234,"box":{"x":598,"y":228,"width":259,"height":8}},{"id":"ffda6c1c-eb21-4693-9ca1-8aa32842b81a","block_type":"box","text":"AIF","page_number":234,"box":{"x":596,"y":241,"width":26,"height":9}},{"id":"e09a067b-ebf2-4ef7-8677-23e2897d0e41","block_type":"box","text":"AI North American Equity Index (Custom Screened)","page_number":234,"box":{"x":166,"y":267,"width":383,"height":12}},{"id":"d3e10c04-282e-4fcf-b76b-d1cc61115081","block_type":"box","text":"Fund","page_number":234,"box":{"x":167,"y":281,"width":36,"height":9}},{"id":"da31546d-77e2-4674-8b79-dc89cf21401c","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":234,"box":{"x":598,"y":267,"width":259,"height":9}},{"id":"b1ddc2a4-49ab-4d08-9828-1d111e20cc8e","block_type":"box","text":"AIF","page_number":234,"box":{"x":596,"y":281,"width":26,"height":9}},{"id":"f0531230-990a-41b7-a9bf-a038e7caf8ee","block_type":"box","text":"AI Non-Gilt Bond Up to 5 Years Index Fund","page_number":234,"box":{"x":166,"y":321,"width":321,"height":11}},{"id":"f8457b80-1433-4287-bb4e-ad8469853d7a","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":234,"box":{"x":598,"y":321,"width":259,"height":9}},{"id":"f91750f0-028b-4382-aa72-873528088fa6","block_type":"box","text":"AIF","page_number":234,"box":{"x":596,"y":335,"width":26,"height":8}},{"id":"53683ec4-e4c2-4873-bae4-4ba2c5f05964","block_type":"box","text":"AI UK Gilts Up to 5 Years Index Fund","page_number":234,"box":{"x":166,"y":361,"width":277,"height":11}},{"id":"b629338a-b788-4420-b9f1-0df50eaa886b","block_type":"box","text":"Non UCITS Retail Scheme and UK","page_number":234,"box":{"x":598,"y":361,"width":259,"height":9}},{"id":"c893120a-2feb-4565-9e47-479558c1461a","block_type":"box","text":"AIF","page_number":234,"box":{"x":596,"y":375,"width":26,"height":8}},{"id":"449bfbc6-556f-411e-8844-572c54ddbf18","block_type":"box","text":"Sub-Funds of the Aviva Investors LTAF ACS","page_number":234,"box":{"x":62,"y":421,"width":353,"height":9}},{"id":"2a992682-73fa-431c-9814-7ca67da27326","block_type":"box","text":"Name","page_number":234,"box":{"x":346,"y":468,"width":58,"height":10}},{"id":"a8eb0f41-fb29-4028-8f41-3e8e5f8fb126","block_type":"box","text":"Regulatory Status","page_number":234,"box":{"x":650,"y":468,"width":164,"height":13}},{"id":"2618bf53-3110-458c-9b92-45c059d55645","block_type":"box","text":"Aviva Investors Real Estate Active LTAF","page_number":234,"box":{"x":171,"y":492,"width":300,"height":9}},{"id":"2ff1d64e-b0d7-4a63-87f3-13754867b4f8","block_type":"box","text":"Long Term Asset Fund and UK AIF","page_number":234,"box":{"x":598,"y":492,"width":260,"height":11}},{"id":"091da6db-ad9b-41f0-a652-dfa10c5f5a55","block_type":"box","text":"Aviva Investors Climate Transition Real Assets LTAF","page_number":234,"box":{"x":166,"y":532,"width":393,"height":9}},{"id":"1a6dd9a2-7b0c-44f5-86ad-53eaa51725eb","block_type":"box","text":"Long Term Asset Fund and UK AIF","page_number":234,"box":{"x":598,"y":532,"width":260,"height":11}},{"id":"3a216c77-5592-4d39-a1f1-08805c118146","block_type":"box","text":"Aviva Investors Multi-Sector Private Debt LTAF","page_number":234,"box":{"x":166,"y":571,"width":350,"height":9}},{"id":"9afe26ba-c20c-407d-bf2d-9b9e729e2466","block_type":"box","text":"Long Term Asset Fund and UK AIF","page_number":234,"box":{"x":598,"y":572,"width":260,"height":11}},{"id":"4af676e0-b03e-4d10-86b0-cf95c5b56a16","block_type":"box","text":"Aviva Investors Venture & Growth Capital LTAF","page_number":234,"box":{"x":166,"y":611,"width":354,"height":11}},{"id":"175c8787-fef0-4475-a10e-0d7fa7544ad0","block_type":"box","text":"Long Term Asset Fund and UK AIF","page_number":234,"box":{"x":598,"y":612,"width":260,"height":11}},{"id":"cd4a8215-0a88-4fd4-9405-fdebc7cd375b","block_type":"box","text":"Aviva Investors UK Fund Services Limited is also the Authorised Corporate Director of the following ICVCs which are","page_number":234,"box":{"x":62,"y":671,"width":861,"height":12}},{"id":"6d4d2482-9eab-4b94-83e2-08395a5aa5ab","block_type":"box","text":"authorised by the FCA as \"umbrella\" companies, in that the companies issue shares linked to different Funds which","page_number":234,"box":{"x":62,"y":692,"width":860,"height":11}},{"id":"495381dc-d63e-4ba7-be7b-063f002e7c5b","block_type":"box","text":"have been established.","page_number":234,"box":{"x":62,"y":713,"width":171,"height":8}},{"id":"e06cbb52-4cce-465e-b6c8-733a81ba3905","block_type":"box","text":"ICVC","page_number":234,"box":{"x":303,"y":754,"width":52,"height":11}},{"id":"3e7ea885-ec36-414f-994b-53fc0d4c221d","block_type":"box","text":"Funds Available","page_number":234,"box":{"x":619,"y":755,"width":147,"height":10}},{"id":"6807ee9b-aa7e-41ce-bcbc-3099a9b7b9b6","block_type":"box","text":"Aviva Investors Investment Funds ICVC","page_number":234,"box":{"x":166,"y":778,"width":317,"height":9}},{"id":"a666bd5d-1c98-49c8-9e18-701b4a8f59a6","block_type":"box","text":"(UK UCITS)","page_number":234,"box":{"x":167,"y":791,"width":88,"height":12}},{"id":"bac497ee-8cf4-4851-8c5d-ce735e6d24e8","block_type":"box","text":"Aviva Investors UK Listed Equity Unconstrained","page_number":234,"box":{"x":502,"y":778,"width":372,"height":11}},{"id":"ab7cf438-7a54-4b24-8aa1-87beb54e95fc","block_type":"box","text":"Fund","page_number":234,"box":{"x":503,"y":792,"width":36,"height":8}},{"id":"eb105581-743f-45ea-93ea-2f5b03869afe","block_type":"box","text":"Aviva Investors UK Listed Small and Mid-Cap","page_number":234,"box":{"x":502,"y":805,"width":373,"height":11}},{"id":"a48c589a-4ad5-4f05-9013-cdb5f00fc384","block_type":"box","text":"Fund","page_number":234,"box":{"x":503,"y":819,"width":36,"height":9}},{"id":"5fe04e59-9652-4eef-a66f-c1aebefe6d5c","block_type":"box","text":"Aviva Investors UK Listed Equity Income Fund","page_number":234,"box":{"x":502,"y":833,"width":344,"height":11}},{"id":"22f5a49a-0d1c-4818-8909-5e14180ba47b","block_type":"box","text":"Aviva Investors Global Equity Income Fund","page_number":234,"box":{"x":502,"y":846,"width":320,"height":11}},{"id":"aa8f67a4-6789-4068-b7c9-f66b55ca9fbc","block_type":"box","text":"Aviva Investors Continental European Equity Fund","page_number":234,"box":{"x":502,"y":860,"width":372,"height":11}},{"id":"0c3ea8d2-55bb-4b16-bfd0-9f6826dfdace","block_type":"box","text":"Aviva Investors Sterling Corporate Bond Fund","page_number":234,"box":{"x":502,"y":873,"width":340,"height":12}},{"id":"8d2d7140-08a5-460f-af12-4c5e087af8cb","block_type":"box","text":"Aviva Investors Higher Income Plus Fund","page_number":234,"box":{"x":502,"y":887,"width":307,"height":11}},{"id":"d13597fe-d179-48cd-94e0-e984479ad162","block_type":"box","text":"Aviva Investors Managed High Income Fund","page_number":234,"box":{"x":502,"y":901,"width":329,"height":11}},{"id":"16f76379-1994-4cd2-92ea-f4712b733661","block_type":"box","text":"Aviva Investors UK Index Tracking Fund","page_number":234,"box":{"x":502,"y":915,"width":299,"height":11}},{"id":"d4d99375-9d7f-4a3b-af01-31c815d5b266","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":235,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"769f8d25-f15d-4f53-983a-1d9839753ca4","block_type":"box","text":"235","page_number":235,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"f1a5ca94-151a-4d5b-b5a7-a5fa0af69173","block_type":"box","text":"Aviva Investors: Confidential","page_number":235,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"f2cdd094-fef2-4111-b964-9f953680a972","block_type":"box","text":"Aviva Investors International Index Tracking Fund","page_number":235,"box":{"x":502,"y":53,"width":368,"height":11}},{"id":"1f4df4dc-a98f-45c2-8c92-3b017c9670e7","block_type":"box","text":"Aviva Investors Multi-asset Income Fund","page_number":235,"box":{"x":502,"y":67,"width":301,"height":8}},{"id":"77c79151-6410-47d5-8736-068f45a3a8e6","block_type":"box","text":"Aviva Investors Strategic Bond Fund","page_number":235,"box":{"x":502,"y":80,"width":271,"height":12}},{"id":"f0b72e8e-71a2-44e8-8cf5-e29c6471ee46","block_type":"box","text":"Aviva Investors Multi-Strategy Target Return Fund","page_number":235,"box":{"x":502,"y":94,"width":372,"height":11}},{"id":"2a72d676-31db-4da9-a0a1-90594a25abf1","block_type":"box","text":"Aviva Investors Global Equity Endurance Fund","page_number":235,"box":{"x":502,"y":108,"width":346,"height":11}},{"id":"cf8ac002-1e62-4e13-b133-1226d4ceea8e","block_type":"box","text":"Aviva Investors Global Climate Aware Equity Fund","page_number":235,"box":{"x":502,"y":121,"width":372,"height":12}},{"id":"d5d2ea59-dd45-4248-b28d-64a786cf73c2","block_type":"box","text":"Aviva Investors US Equity Income Fund I","page_number":235,"box":{"x":502,"y":135,"width":304,"height":11}},{"id":"f7b8e113-dc39-4a85-8ae8-c9658ac5036e","block_type":"box","text":"Please note the following Funds are in the process","page_number":235,"box":{"x":503,"y":162,"width":373,"height":12}},{"id":"00d5558b-70fe-4b8f-af27-dbf7c1739b22","block_type":"box","text":"of being terminated and are no longer available for","page_number":235,"box":{"x":503,"y":176,"width":374,"height":11}},{"id":"2d8ab29b-0d8b-4b40-a2ce-0a38e37e2492","block_type":"box","text":"investment:","page_number":235,"box":{"x":503,"y":190,"width":85,"height":8}},{"id":"b3910115-89d8-4a0d-9c1f-750bc3e0cdf5","block_type":"box","text":"Aviva Investors UK Smaller Companies Fund","page_number":235,"box":{"x":502,"y":203,"width":335,"height":11}},{"id":"bef9432c-dbd3-4e1b-8d5a-76cec92e2e60","block_type":"box","text":"Aviva Investors Global Emerging Markets Equity","page_number":235,"box":{"x":502,"y":217,"width":373,"height":11}},{"id":"4f7c14aa-a164-40bd-b8fa-650c1821a806","block_type":"box","text":"Unconstrained Fund","page_number":235,"box":{"x":503,"y":231,"width":149,"height":8}},{"id":"e1a88125-66b1-4f49-8dbf-5ddab8d3422b","block_type":"box","text":"Aviva Investors Select Funds ICVC (UK","page_number":235,"box":{"x":166,"y":245,"width":317,"height":11}},{"id":"1ad777b8-c4c1-4ec2-ba4b-c849d53624c9","block_type":"box","text":"UCITS)","page_number":235,"box":{"x":168,"y":258,"width":53,"height":12}},{"id":"4ef23aa1-653f-4344-838d-801875073988","block_type":"box","text":"Please note the following Funds are in the process","page_number":235,"box":{"x":503,"y":245,"width":373,"height":11}},{"id":"e48df616-31c0-47f7-9ad6-02c030223445","block_type":"box","text":"of being terminated and are no longer available for","page_number":235,"box":{"x":503,"y":259,"width":374,"height":11}},{"id":"aea1f23f-6b54-4801-8d4c-fce2662974e4","block_type":"box","text":"investment:","page_number":235,"box":{"x":503,"y":272,"width":85,"height":9}},{"id":"899fe62d-30d9-4f62-8975-2d3886956a4d","block_type":"box","text":"Aviva Investors US Equity Income Fund II","page_number":235,"box":{"x":502,"y":286,"width":308,"height":11}},{"id":"a45e1465-7a3e-4cb6-8127-b04297ccf2aa","block_type":"box","text":"Aviva Investors Manager of Manager ICVC","page_number":235,"box":{"x":166,"y":314,"width":317,"height":11}},{"id":"2abe25a1-6b81-488f-b460-81bb55ee34e3","block_type":"box","text":"(ICVC 2) (UK UCITS)","page_number":235,"box":{"x":167,"y":327,"width":158,"height":11}},{"id":"de0b3636-2c1f-4164-a0f2-ae26d807da13","block_type":"box","text":"Aviva Investors Japan Equity Growth Fund","page_number":235,"box":{"x":502,"y":314,"width":316,"height":11}},{"id":"305f91e6-0281-47c6-834e-c38a97667016","block_type":"box","text":"Please note the following Fund is in the process of","page_number":235,"box":{"x":503,"y":341,"width":375,"height":11}},{"id":"e55971bf-bd19-41e6-8d93-e6b021d3681a","block_type":"box","text":"being terminated and is no longer available for","page_number":235,"box":{"x":503,"y":355,"width":374,"height":11}},{"id":"acbb07fc-8b0f-4b9b-9033-75fdab5dd72a","block_type":"box","text":"investment:","page_number":235,"box":{"x":503,"y":369,"width":85,"height":8}},{"id":"2fc8a691-d119-4649-ac42-2d5cbe95fba1","block_type":"box","text":"Aviva Investors Apac Equity MoM 1 Fund","page_number":235,"box":{"x":502,"y":382,"width":306,"height":11}},{"id":"b8585acb-4664-4951-bcab-3278f762bd61","block_type":"box","text":"Aviva Investors Portfolio Funds ICVC (Non","page_number":235,"box":{"x":166,"y":413,"width":317,"height":11}},{"id":"4d9dea21-50b5-462a-9370-1c98095f2d0e","block_type":"box","text":"UCITS Retail Scheme and UK AIF)","page_number":235,"box":{"x":168,"y":426,"width":258,"height":11}},{"id":"0c7db6e5-43a6-4097-891c-0408b53f95db","block_type":"box","text":"Aviva Investors Multi-Manager Flexible Fund","page_number":235,"box":{"x":502,"y":413,"width":330,"height":11}},{"id":"526dc6f7-35f6-4dbe-a0e8-e4925d9411bb","block_type":"box","text":"Aviva Investors Multi-Manager 40-85% Shares","page_number":235,"box":{"x":502,"y":426,"width":373,"height":12}},{"id":"55ed9a3d-0136-4e54-9814-8685c0f15a6c","block_type":"box","text":"Fund","page_number":235,"box":{"x":503,"y":440,"width":36,"height":9}},{"id":"1d8b72fd-6080-4fac-bc1e-7651c241f007","block_type":"box","text":"Aviva Investors Multi-Manager 20-60% Shares","page_number":235,"box":{"x":502,"y":454,"width":373,"height":11}},{"id":"274dac37-0a63-48ae-8caf-b93966b58138","block_type":"box","text":"Fund","page_number":235,"box":{"x":503,"y":467,"width":36,"height":9}},{"id":"5db1a92d-fc26-4ecb-9763-be07645e35d1","block_type":"box","text":"Aviva Investors Multi-asset Core Fund I","page_number":235,"box":{"x":502,"y":481,"width":291,"height":9}},{"id":"0b0170b0-b607-4e3c-ba6a-c3c6bc06289b","block_type":"box","text":"Aviva Investors Multi-asset Core Fund II","page_number":235,"box":{"x":502,"y":495,"width":296,"height":9}},{"id":"d10b5e45-491a-4ff4-a819-9337bf971483","block_type":"box","text":"Aviva Investors Multi-asset Core Fund III","page_number":235,"box":{"x":502,"y":508,"width":301,"height":9}},{"id":"c3e7c64d-6b0b-446d-8fde-d480305a8580","block_type":"box","text":"Aviva Investors Multi-asset Core Fund IV","page_number":235,"box":{"x":502,"y":522,"width":304,"height":9}},{"id":"f25446d4-d5c8-4e7a-8640-d4a7e18635c3","block_type":"box","text":"Aviva Investors Multi-asset Core Fund V","page_number":235,"box":{"x":502,"y":535,"width":299,"height":9}},{"id":"cc07b80e-e3c8-4754-871f-18358e40eba1","block_type":"box","text":"Aviva Investors Multi-asset Plus Fund I","page_number":235,"box":{"x":502,"y":549,"width":288,"height":9}},{"id":"79080cb9-b22d-429b-9272-b99ea8ce8d94","block_type":"box","text":"Aviva Investors Multi-asset Plus Fund II","page_number":235,"box":{"x":502,"y":563,"width":292,"height":9}},{"id":"efb19dad-a8af-4b71-b203-b77aa2ba6cfe","block_type":"box","text":"Aviva Investors Multi-asset Plus Fund III","page_number":235,"box":{"x":502,"y":577,"width":297,"height":8}},{"id":"6b5733d2-32c0-4ab8-8a18-2445594a9737","block_type":"box","text":"Aviva Investors Multi-asset Plus Fund IV","page_number":235,"box":{"x":502,"y":590,"width":300,"height":9}},{"id":"0a56068a-fd22-4b2c-95e8-fa7c611cc77e","block_type":"box","text":"Aviva Investors Multi-asset Plus Fund V","page_number":235,"box":{"x":502,"y":604,"width":295,"height":9}},{"id":"3b91ff68-ff66-462f-988b-898366939f04","block_type":"box","text":"Aviva Investors Multi-Asset Stewardship Fund I","page_number":235,"box":{"x":502,"y":617,"width":349,"height":12}},{"id":"2e5aa68a-f035-4cd7-9423-9d534d52d5a0","block_type":"box","text":"Aviva Investors Multi-Asset Stewardship Fund II","page_number":235,"box":{"x":502,"y":631,"width":354,"height":11}},{"id":"bfec6335-2794-4c0f-98ad-9f11949592dc","block_type":"box","text":"Aviva Investors Multi-Asset Stewardship Fund III","page_number":235,"box":{"x":502,"y":645,"width":358,"height":11}},{"id":"61dda1a1-56e9-450b-a053-31a9688c6383","block_type":"box","text":"Aviva Investors Multi-Asset Stewardship Fund IV","page_number":235,"box":{"x":502,"y":658,"width":362,"height":12}},{"id":"603891b0-d40e-4a0f-9c51-b3584e40980f","block_type":"box","text":"Please note that the following Funds are in the","page_number":235,"box":{"x":503,"y":686,"width":373,"height":11}},{"id":"1d979309-082c-4d6d-82fa-eac397e1c3de","block_type":"box","text":"process of being terminated and are no longer","page_number":235,"box":{"x":502,"y":699,"width":375,"height":12}},{"id":"1d5b7aaa-1f60-43b7-9bc6-6ccccc0ae005","block_type":"box","text":"available for investment:","page_number":235,"box":{"x":503,"y":713,"width":180,"height":9}},{"id":"cf54e5c6-2888-46ea-baae-b7b3b718cb9d","block_type":"box","text":"Aviva Investors UK Listed Equity Fund","page_number":235,"box":{"x":502,"y":727,"width":285,"height":11}},{"id":"ee35b50a-725a-49e1-8a7b-2e4148c6cf5f","block_type":"box","text":"Aviva Investors Funds ICVC (UK UCITS)","page_number":235,"box":{"x":166,"y":755,"width":303,"height":11}},{"id":"77962ebb-465f-45d1-b66b-11d1cc629a80","block_type":"box","text":"Please note that the following Fund is in the","page_number":235,"box":{"x":503,"y":755,"width":372,"height":11}},{"id":"b4267c92-2c8d-452e-903d-eefd2b26df93","block_type":"box","text":"process of being terminated is no longer available","page_number":235,"box":{"x":502,"y":768,"width":374,"height":12}},{"id":"9add4a9f-d7e9-4e0a-bebf-4929c77c3528","block_type":"box","text":"for investment:","page_number":235,"box":{"x":503,"y":782,"width":109,"height":9}},{"id":"24a2a9f1-81a9-43b7-9084-88b3c2e9e295","block_type":"box","text":"Aviva Investors Multi-Strategy Target Income Fund","page_number":235,"box":{"x":502,"y":796,"width":372,"height":11}},{"id":"6541732a-8a61-436d-a0de-cdf5291b2fa9","block_type":"box","text":"Aviva Investors UK Fund Services Limited is also the manager of the following Authorised Unit Trust:","page_number":235,"box":{"x":62,"y":845,"width":808,"height":11}},{"id":"27f74484-5103-480d-b2ab-54c923bc7d11","block_type":"box","text":"Aviva Investors UK Property Feeder Trust (Non-UCITS Retail Scheme and UK AIF) (please note all sub-funds of this","page_number":235,"box":{"x":62,"y":886,"width":861,"height":11}},{"id":"d4ca00b1-c07f-439c-9c15-b879e2f06d0e","block_type":"box","text":"scheme are in the process of being terminated and are no longer available for investment).","page_number":235,"box":{"x":62,"y":899,"width":671,"height":11}},{"id":"af213ace-19fe-4543-9a0a-8ed3e1979de8","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":236,"box":{"x":62,"y":940,"width":302,"height":8}},{"id":"a1190de3-9211-4052-884e-24ad04b254f3","block_type":"box","text":"236","page_number":236,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"3a40b402-37aa-4dee-b5a3-49e2c52d0c1c","block_type":"box","text":"Aviva Investors: Confidential","page_number":236,"box":{"x":34,"y":973,"width":154,"height":7}},{"id":"5e3ea85c-4a14-438e-9471-7203f9bb5c4c","block_type":"box","text":"APPENDIX 6","page_number":236,"box":{"x":443,"y":53,"width":99,"height":8}},{"id":"84a18d26-a2b8-46ce-bfde-cf77e7e62e7c","block_type":"box","text":"INVESTMENT RESTRICTIONS APPLICABLE TO THE SCHEME","page_number":236,"box":{"x":249,"y":80,"width":491,"height":9}},{"id":"38bdfb6e-9e59-43bb-90a9-e604b3c563e9","block_type":"box","text":"1.","page_number":236,"box":{"x":63,"y":106,"width":11,"height":8}},{"id":"bade86cc-10f4-4c29-9db4-f66ef3ac6878","block_type":"box","text":"Investment and Borrowing Powers","page_number":236,"box":{"x":110,"y":106,"width":275,"height":11}},{"id":"0f0bf7f2-3351-430b-a3a5-fa3aa68db410","block_type":"box","text":"1.1 The property of each Sub-Fund will be invested with the aim of achieving the investment objective of each Sub","page_number":236,"box":{"x":63,"y":125,"width":859,"height":11}},{"id":"5e4cd780-3743-4bd2-8cb9-b353f203f4a3","block_type":"box","text":"Fund set out in Appendix 1 but subject to the limits set out in Chapter 5 of the COLL Sourcebook. The ACS","page_number":236,"box":{"x":110,"y":139,"width":813,"height":11}},{"id":"9645dc1a-dae7-4754-bc5b-00bedbafa3eb","block_type":"box","text":"Manager will ensure that, taking into account of the investment objectives and policies of the Sub-Funds, it","page_number":236,"box":{"x":110,"y":152,"width":813,"height":11}},{"id":"777db904-20e8-4690-babc-2d1129f5765f","block_type":"box","text":"aims to provide a prudent spread of risk. The rules in COLL 5.6 relating to the spread of investments will not","page_number":236,"box":{"x":110,"y":166,"width":813,"height":11}},{"id":"b562cf02-d8a2-4262-b688-0f5c51ef9a42","block_type":"box","text":"apply until 12 months after the later of (a) the date when the authorisation order in respect of the Sub-Funds","page_number":236,"box":{"x":110,"y":179,"width":812,"height":12}},{"id":"692807f3-0a22-4e68-91ab-02c9816ce8b9","block_type":"box","text":"takes effect; and (b) the date the initial offer commenced provided that the ACS Manager ensures that each","page_number":236,"box":{"x":109,"y":193,"width":813,"height":11}},{"id":"ea28bc64-ac07-4c98-8c61-e0d542188472","block_type":"box","text":"Sub-Fund aims to provide a prudent spread of risk .","page_number":236,"box":{"x":110,"y":207,"width":380,"height":11}},{"id":"5dd8971d-3c69-4888-a6ad-69fd81934182","block_type":"box","text":"1.2 The ACS Manager uses a risk management process, as reviewed by the Depositary, enabling it to monitor and","page_number":236,"box":{"x":63,"y":226,"width":859,"height":12}},{"id":"b8d4ef73-5959-4ff6-b324-9ac52fb8057d","block_type":"box","text":"measure as frequently as appropriate the risk of a Sub-Fund's portfolio and contribution of the underlying","page_number":236,"box":{"x":110,"y":240,"width":812,"height":11}},{"id":"0a733872-0b8e-41f1-b856-38710b3b8134","block_type":"box","text":"investments to the overall risk profile of the Scheme. The details of the risk management process must be","page_number":236,"box":{"x":110,"y":254,"width":813,"height":11}},{"id":"ca8a98c9-2a06-4ae6-a59d-eb19bcc4b619","block_type":"box","text":"notified by the ACS Manager to the FCA in advance and should include the following information:","page_number":236,"box":{"x":110,"y":267,"width":718,"height":12}},{"id":"e95320a6-473b-4415-8ce6-b66e59e79543","block_type":"box","text":"(a) the types of investments to be used within the relevant Sub-Fund together with their underlying risks and","page_number":236,"box":{"x":110,"y":287,"width":812,"height":11}},{"id":"c0ac110b-a582-4418-acd4-4fb2e4c2edc0","block_type":"box","text":"any relevant quantitative limits;","page_number":236,"box":{"x":157,"y":301,"width":228,"height":11}},{"id":"c71825ab-afb8-43b5-a8ba-b31f0f2808fe","block_type":"box","text":"(b) the methods for estimating risks in the portfolio to ensure these are adequately captured; and","page_number":236,"box":{"x":110,"y":320,"width":736,"height":12}},{"id":"84ecf63f-af96-4a8f-b9e9-335ebabfb5c4","block_type":"box","text":"the risks relating to the Sub-Fund's other investments are adequately captured.","page_number":236,"box":{"x":62,"y":340,"width":585,"height":11}},{"id":"9442d32f-1b4b-4b23-8178-51b19b8c1ce9","block_type":"box","text":"The ACS Manager must notify the FCA in advance of any material alteration to the details above.","page_number":236,"box":{"x":109,"y":359,"width":719,"height":12}},{"id":"d34bb21d-0e3c-41a3-8e4c-994f75122095","block_type":"box","text":"2.","page_number":236,"box":{"x":62,"y":385,"width":12,"height":9}},{"id":"3f7ac9e1-2615-4136-bf5d-b5f851cf904a","block_type":"box","text":"Eligible Assets","page_number":236,"box":{"x":110,"y":385,"width":118,"height":11}},{"id":"902a7857-f457-4402-b410-975e697b9c11","block_type":"box","text":"Subject to the investment objective and policy of each Sub-Fund, the property of a Sub-Fund, must only, except","page_number":236,"box":{"x":110,"y":405,"width":813,"height":11}},{"id":"0d7214e4-aea7-408d-b2da-ffad4afe9c2e","block_type":"box","text":"where otherwise provided in COLL 5, consist of any one or more of:","page_number":236,"box":{"x":109,"y":418,"width":501,"height":11}},{"id":"74f1206c-da18-4422-90f9-47a08d764e05","block_type":"box","text":"(a) transferable securities;","page_number":236,"box":{"x":110,"y":444,"width":214,"height":11}},{"id":"706004ec-1ad6-46a9-b6c6-b8cf320521b1","block_type":"box","text":"(b) money-market instruments;","page_number":236,"box":{"x":110,"y":463,"width":249,"height":12}},{"id":"a6a23764-6bc2-4cbc-8d1b-c4754e6ef853","block_type":"box","text":"(c) units or shares in permitted collective investment schemes;","page_number":236,"box":{"x":110,"y":483,"width":484,"height":11}},{"id":"0fe82440-9693-4514-8b5a-7ee8d5390d1f","block_type":"box","text":"(d) permitted derivatives and forward transactions;","page_number":236,"box":{"x":110,"y":503,"width":393,"height":11}},{"id":"df70ff14-9da6-464c-aba5-ebd2b0bcb345","block_type":"box","text":"(e) permitted deposits;","page_number":236,"box":{"x":110,"y":522,"width":187,"height":11}},{"id":"a1d9323e-216c-4ebe-8992-1f542a504086","block_type":"box","text":"(f) permitted immovables (it is not intended that the Sub-Funds will have an interest in any immovable or","page_number":236,"box":{"x":110,"y":542,"width":813,"height":11}},{"id":"e470e008-7d17-499b-a360-8f6500438ee4","block_type":"box","text":"tangible movable property); and","page_number":236,"box":{"x":157,"y":555,"width":235,"height":12}},{"id":"8b08f75c-ba37-4b4b-afe8-c41a38f04872","block_type":"box","text":"gold up to a limit of 10 % of the property of the Sub-Fund (it is not intended that the Sub-Funds will invest in gold).","page_number":236,"box":{"x":62,"y":575,"width":841,"height":11}},{"id":"8962ab15-48b1-4085-8b3a-9d93cf338458","block_type":"box","text":"The following restrictions under the COLL Sourcebook and (where relevant) determined by the ACS Manager","page_number":236,"box":{"x":62,"y":594,"width":861,"height":12}},{"id":"05766596-8bf4-449d-9f3a-0e0b2f3855d5","block_type":"box","text":"currently apply to each of the Sub-Funds. In respect of the AI Money Market VNAV Fund, different restrictions may","page_number":236,"box":{"x":62,"y":608,"width":861,"height":11}},{"id":"af0359d0-a645-491e-a614-e1a48b22c5f5","block_type":"box","text":"apply. Further details on the AI Money Market VNAV Fund are provided in Appendix 1.","page_number":236,"box":{"x":62,"y":622,"width":640,"height":11}},{"id":"c51c2f65-739a-4813-8403-e6ca4a159ce2","block_type":"box","text":"3.","page_number":236,"box":{"x":62,"y":648,"width":12,"height":8}},{"id":"fbb1ffa8-e19a-4c8f-a74b-8a217541d20a","block_type":"box","text":"Transferable Securities and Approved Money-Market Instruments","page_number":236,"box":{"x":109,"y":648,"width":521,"height":11}},{"id":"c660211a-0eef-4757-9f3c-88b84f5e7b0c","block_type":"box","text":"3.1 The investments of each Sub-Fund shall consist of one or more of the following:","page_number":236,"box":{"x":62,"y":667,"width":638,"height":11}},{"id":"0c0395c1-f4fd-4982-8bfc-0685fb54674a","block_type":"box","text":"(a) Transferable securities and approved money-market instruments admitted to or dealt in a regulated","page_number":236,"box":{"x":110,"y":692,"width":812,"height":12}},{"id":"283325a1-dc87-47e1-804a-9965f71b3b60","block_type":"box","text":"market (as defined by the FCA).","page_number":236,"box":{"x":158,"y":706,"width":235,"height":11}},{"id":"4dd184a7-553a-4ad3-b8ed-83e08f4b88e7","block_type":"box","text":"(b) Transferable securities and approved money-market instruments dealt in or on other markets in the UK","page_number":236,"box":{"x":110,"y":726,"width":813,"height":11}},{"id":"e6c6d824-a12c-46ae-a696-4e61e4c7112c","block_type":"box","text":"or an EEA State, that are operating regularly, are recognised and are open to the public.","page_number":236,"box":{"x":157,"y":739,"width":653,"height":12}},{"id":"1a35ac91-7cab-42ee-80bc-ce33432c6a59","block_type":"box","text":"Transferable securities and approved money-market instruments admitted to official listings on or dealt in on other","page_number":236,"box":{"x":62,"y":759,"width":861,"height":11}},{"id":"7ea3424b-3b76-4539-9b7e-14aa58d93946","block_type":"box","text":"eligible markets.","page_number":236,"box":{"x":62,"y":773,"width":119,"height":11}},{"id":"e0ac97a6-5665-4a43-8ba4-2fa2c96854ed","block_type":"box","text":"Recently issued transferable securities provided that the terms of issue include an undertaking that application will be","page_number":236,"box":{"x":63,"y":792,"width":860,"height":12}},{"id":"0a640dcb-17fe-4e2f-af89-c785bb70ac7c","block_type":"box","text":"made to be admitted to an eligible market and such admission is secured within a year of issue.","page_number":236,"box":{"x":62,"y":806,"width":707,"height":11}},{"id":"b2b507c9-942e-4db6-9d49-c03b25e5ad27","block_type":"box","text":"3.2 A transferable security is eligible for investment if it meets the following criteria:","page_number":236,"box":{"x":62,"y":826,"width":631,"height":11}},{"id":"a7588d1a-99ca-48a3-806e-a161495b6ece","block_type":"box","text":"(a) the potential loss that a Sub-Fund may incur by holding the security is limited to the amount paid for it;","page_number":236,"box":{"x":110,"y":851,"width":801,"height":11}},{"id":"e848e160-db67-4139-a339-ce64ee363f69","block_type":"box","text":"(b) its liquidity does not compromise the ACS Manager's ability to redeem Units;","page_number":236,"box":{"x":110,"y":871,"width":613,"height":11}},{"id":"7e2c5260-68f7-4731-8f9e-c80472b393c3","block_type":"box","text":"(c) reliable and regular valuation is available to the market and the ACS Manager;","page_number":236,"box":{"x":110,"y":890,"width":627,"height":12}},{"id":"443fa161-f92f-4f31-9d0e-3b3c13d7357b","block_type":"box","text":"(d) appropriate information about the transferable security is available to the market and the ACS Manager;","page_number":236,"box":{"x":110,"y":910,"width":812,"height":11}},{"id":"94a47d83-5ae4-4735-a9e0-81d3b3145442","block_type":"box","text":"Aviva Investors Funds ACS Prospectus","page_number":237,"box":{"x":62,"y":940,"width":204,"height":8}},{"id":"1405e768-26cf-4cc3-a622-bb90a943007c","block_type":"box","text":"(16 October 2026)","page_number":237,"box":{"x":271,"y":940,"width":93,"height":8}},{"id":"dccab686-fa6a-4557-b1d1-ed90be132e8b","block_type":"box","text":"237","page_number":237,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"91cd5edd-a117-4aa2-87fe-764997321fe7","block_type":"box","text":"Aviva Investors: Confidential","page_number":237,"box":{"x":95,"y":960,"width":154,"height":7}},{"id":"66d24687-937f-470a-8b0c-aa4510977c5f","block_type":"box","text":"(e) the transferable security is a negotiable instrument; and","page_number":237,"box":{"x":110,"y":46,"width":458,"height":11}},{"id":"b68ae001-47a3-4ef3-865e-ca0a19ed7e3d","block_type":"box","text":"its risks are adequately captured by the risk management process of the ACS Manager.","page_number":237,"box":{"x":62,"y":65,"width":649,"height":12}},{"id":"b4468bca-6cb8-4b69-8345-09de4fda35a1","block_type":"box","text":"3.3 Approved money-market instruments are those normally dealt in on the money-market, are liquid and have a","page_number":237,"box":{"x":62,"y":85,"width":861,"height":11}},{"id":"fbb3c434-b2f8-42f6-ae52-1d1a0a012180","block_type":"box","text":"value which can be accurately determined at any time, and with the exception of those dealt in on an eligible","page_number":237,"box":{"x":109,"y":99,"width":814,"height":11}},{"id":"947875d8-336f-4ca6-92e8-926af8b0f7a3","block_type":"box","text":"market, appropriate information is available to the market and the ACS Manager.","page_number":237,"box":{"x":110,"y":112,"width":597,"height":12}},{"id":"f8fb799c-0060-4e75-8090-693bc9b5c064","block_type":"box","text":"3.4 Approved money-market instruments other than those listed on or normally dealt on an eligible market are","page_number":237,"box":{"x":62,"y":132,"width":860,"height":11}},{"id":"058d4cbb-c814-440a-93ea-1792caf149c8","block_type":"box","text":"eligible if the issue or issuer of such approved money-market instruments is itself regulated for the purpose of","page_number":237,"box":{"x":110,"y":146,"width":813,"height":11}},{"id":"ccfd83f1-4af3-405f-9623-4c2bf72415c7","block_type":"box","text":"protecting investors and savings, and provided they are issued or guaranteed by a central, regional or local","page_number":237,"box":{"x":110,"y":159,"width":812,"height":11}},{"id":"9e81fb74-5f26-4da3-95ed-f4b2d2f0bb38","block_type":"box","text":"authority of the UK or an EEA State, the Bank of England, a central bank of an EEA State, the European Central","page_number":237,"box":{"x":110,"y":173,"width":812,"height":11}},{"id":"1e1baacb-589e-4d76-93b8-15a4400380a6","block_type":"box","text":"Bank, the European Union or the European Investment Bank, a non-EEA State or, in the case of a federal","page_number":237,"box":{"x":110,"y":186,"width":812,"height":11}},{"id":"17d32816-e517-452a-948d-d07fb84ee537","block_type":"box","text":"state, by one of the members making up the federation, or by a public international body to which the UK or","page_number":237,"box":{"x":110,"y":200,"width":813,"height":11}},{"id":"7f219c39-5076-49ba-8f8c-4ca0b4b601b4","block_type":"box","text":"one or more EEA States belong; or issued by a body, any securities of which are dealt in on an eligible market;","page_number":237,"box":{"x":110,"y":214,"width":812,"height":11}},{"id":"2816c5c7-e31f-403c-9072-8c73d3faea15","block_type":"box","text":"or issued or guaranteed by an establishment subject to prudential supervision in accordance with criteria","page_number":237,"box":{"x":110,"y":228,"width":813,"height":11}},{"id":"23cfedf8-8044-4933-9984-ee2509e2d985","block_type":"box","text":"defined by UK or EU law or by an establishment which is subject to and complies with prudential rules","page_number":237,"box":{"x":110,"y":241,"width":813,"height":11}},{"id":"39772c2f-8fe7-4c97-a55f-388826acda4b","block_type":"box","text":"considered by the FCA to be at least as stringent as those laid down by UK or EU law.","page_number":237,"box":{"x":110,"y":255,"width":637,"height":11}},{"id":"74c095d4-727e-4437-8168-4a72ff45acd1","block_type":"box","text":"3.5 A Sub-Fund may invest no more than 20 % of its scheme property in transferable securities which are not","page_number":237,"box":{"x":62,"y":274,"width":861,"height":11}},{"id":"be3ed995-5681-487a-8aa1-3785a572ea16","block_type":"box","text":"approved securities (aggregated with the value of the scheme property which can be invested in unregulated","page_number":237,"box":{"x":110,"y":288,"width":812,"height":11}},{"id":"551c4479-c6b7-4b60-8663-8671ec786371","block_type":"box","text":"collective investment schemes) or money-market instruments which are liquid and have a value which can be","page_number":237,"box":{"x":110,"y":302,"width":813,"height":11}},{"id":"67813543-ef80-4b14-9ab6-0220104a489f","block_type":"box","text":"determined accurately at any time.","page_number":237,"box":{"x":110,"y":316,"width":254,"height":11}},{"id":"a336d386-4986-421b-9446-26262f77a951","block_type":"box","text":"4.","page_number":237,"box":{"x":62,"y":341,"width":12,"height":9}},{"id":"67642024-4eb4-4f96-b27c-b1ac7e66b1bc","block_type":"box","text":"Eligible Markets","page_number":237,"box":{"x":110,"y":341,"width":126,"height":11}},{"id":"454b6fcb-cb37-4d39-8168-f0f01c57560c","block_type":"box","text":"4.1 A market is eligible for the purposes of the rules if it is (i) a regulated market (as defined in COLL), or (ii) a","page_number":237,"box":{"x":62,"y":360,"width":861,"height":12}},{"id":"626e9f24-360a-49dc-97cf-d44659de5d60","block_type":"box","text":"market in the UK or an EEA State which is regulated, operates regularly and is open to the public.","page_number":237,"box":{"x":110,"y":374,"width":722,"height":11}},{"id":"8dbf7a1b-27f8-4d45-9953-24e06a4c9183","block_type":"box","text":"4.2 A market not falling within the above definition in 4.1 is eligible if the ACS Manager, after consultation with and","page_number":237,"box":{"x":62,"y":394,"width":860,"height":11}},{"id":"21d384aa-b114-491d-ac70-34639e67677b","block_type":"box","text":"notification to the Depositary, decides that market is appropriate for the investment of, or dealing in, the scheme","page_number":237,"box":{"x":110,"y":407,"width":813,"height":12}},{"id":"2ada134f-8348-4bfb-8855-d0a1594e9582","block_type":"box","text":"property, the market is included in a list in the Prospectus, and the Depositary has taken reasonable care to","page_number":237,"box":{"x":110,"y":421,"width":813,"height":11}},{"id":"950553bd-5928-4b82-ac6c-ad17b02baa4f","block_type":"box","text":"determine that adequate custody arrangements can be provided for the investment dealt in on that market, and","page_number":237,"box":{"x":110,"y":435,"width":812,"height":11}},{"id":"ac28ede2-9122-4d52-beec-ec6749aa7330","block_type":"box","text":"all reasonable steps have been taken by the ACS Manager in deciding whether that market is eligible.","page_number":237,"box":{"x":110,"y":448,"width":753,"height":12}},{"id":"2a752437-5d1b-4bf2-a43d-68bde9e22ed0","block_type":"box","text":"4.3 For the purposes of 4.2, a market must not be considered appropriate unless it is regulated, operates regularly,","page_number":237,"box":{"x":62,"y":468,"width":860,"height":11}},{"id":"910f7e8d-f146-47f5-b8a1-e9f402791c33","block_type":"box","text":"is recognised, is open to the public, is adequately liquid and has adequate arrangements for unimpeded","page_number":237,"box":{"x":110,"y":482,"width":812,"height":11}},{"id":"212e4614-e19b-4102-8c93-7d0ec61c8e1a","block_type":"box","text":"transmission of income and capital to or for the order of investors.","page_number":237,"box":{"x":109,"y":495,"width":486,"height":11}},{"id":"acb5a2e9-527d-4460-9fbd-7f07b3b780d3","block_type":"box","text":"4.4 Unless information is available to the ACS Manager that would lead to a different determination, a transferable","page_number":237,"box":{"x":62,"y":515,"width":861,"height":11}},{"id":"6e5bb752-d754-47d1-aa38-7a69969b4f48","block_type":"box","text":"security which is admitted or dealt on an eligible market shall be presumed not to compromise the ability of the","page_number":237,"box":{"x":110,"y":528,"width":813,"height":12}},{"id":"fefdf3b7-466e-4f6c-8e59-37430dd92f28","block_type":"box","text":"ACS Manager to be able to redeem Units and to be considered a negotiable instrument.","page_number":237,"box":{"x":109,"y":542,"width":651,"height":11}},{"id":"31460f1f-f7b3-4d75-a045-5fc07b651766","block_type":"box","text":"4.5 The list of eligible securities and derivatives markets for the Sub-Funds is set out in Schedule 1 and Schedule","page_number":237,"box":{"x":62,"y":562,"width":861,"height":11}},{"id":"a18d4b84-e109-45f2-8b2c-f48c24efcc78","block_type":"box","text":"2 to this Prospectus, with only those markets falling within 4.2 above specifically listed.","page_number":237,"box":{"x":109,"y":575,"width":640,"height":12}},{"id":"99ec5789-0b09-48c0-ba2b-cc4ca7939e05","block_type":"box","text":"5.","page_number":237,"box":{"x":62,"y":601,"width":12,"height":9}},{"id":"afa553eb-deeb-4c96-a6ee-e85e5e971c93","block_type":"box","text":"Collective Investment Schemes","page_number":237,"box":{"x":110,"y":601,"width":249,"height":9}},{"id":"cfa53563-e1b2-4ee9-90b2-1df547b55f66","block_type":"box","text":"5.1 Sub-Funds of the Scheme, other than the Core Funds, the AI Cautious Pension Fund, the AI Balanced Pension","page_number":237,"box":{"x":62,"y":620,"width":860,"height":11}},{"id":"3291d7d7-37ea-4b3f-9e80-a92347a7e6eb","block_type":"box","text":"Fund, the AI Distribution Life Fund and the AI Balanced Life Fund, are prohibited from investing more than 15%","page_number":237,"box":{"x":110,"y":634,"width":813,"height":11}},{"id":"9b569dd3-e988-4085-a6a8-9fafbd80625d","block_type":"box","text":"of their Scheme property in units or shares in other collective investment schemes (\"Second Schemes\").","page_number":237,"box":{"x":110,"y":648,"width":770,"height":11}},{"id":"fde5861e-7b4e-4bb8-b81c-2a8081619eeb","block_type":"box","text":"5.2 The Core Funds are prohibited from investing more than 10% of their Scheme property in units or shares in","page_number":237,"box":{"x":62,"y":667,"width":860,"height":12}},{"id":"b5996d46-1bc9-45f5-8096-bbd337c54968","block_type":"box","text":"Second Schemes.","page_number":237,"box":{"x":110,"y":681,"width":134,"height":9}},{"id":"128401c9-ab51-442f-a17f-fa06b336dfd2","block_type":"box","text":"5.3 The AI Cautious Pension Fund, the AI Balanced Pension Fund, the AI Distribution Life Fund and the AI","page_number":237,"box":{"x":62,"y":701,"width":860,"height":10}},{"id":"d67c71c2-d6a0-41e2-9629-53714e466367","block_type":"box","text":"Balanced Life Fund may invest up to 100 % of its scheme property in units or shares in Second Schemes.","page_number":237,"box":{"x":110,"y":714,"width":783,"height":11}},{"id":"2b20a4a5-5a2c-4228-84fe-f920fb86b7db","block_type":"box","text":"5.4 Subject to the limits set out at paragraphs 5.1, 5.2, 5.3 and 5.9, investment in Second Schemes is permitted,","page_number":237,"box":{"x":62,"y":734,"width":860,"height":11}},{"id":"90f9e092-c9e0-4e03-828b-1de6ca0fb5fc","block_type":"box","text":"provided the Second Scheme:","page_number":237,"box":{"x":110,"y":748,"width":223,"height":11}},{"id":"6d5637c8-8310-4cfd-b3eb-62300031adc7","block_type":"box","text":"(a) is a UCITS Scheme or a scheme which satisfies the conditions necessary for it to enjoy the rights","page_number":237,"box":{"x":110,"y":773,"width":813,"height":11}},{"id":"79d31fbf-814b-443c-9b48-32168958fcce","block_type":"box","text":"conferred by the UCITS Directive as implemented in the EEA; or","page_number":237,"box":{"x":157,"y":787,"width":477,"height":11}},{"id":"02d1fa80-afd5-4c1f-91c6-80e9960b3e25","block_type":"box","text":"(b) is authorised as a non-UCITS retail scheme; or","page_number":237,"box":{"x":110,"y":812,"width":396,"height":11}},{"id":"1022d31a-ec4b-451c-b8a9-2d21a37e97ea","block_type":"box","text":"(c) is recognised under the provisions of section 264 of the Financial Services and Markets Act 2000 (the","page_number":237,"box":{"x":110,"y":832,"width":813,"height":11}},{"id":"f9c90b4a-9198-4b5d-aaa9-ff0659bde24b","block_type":"box","text":"\"","page_number":237,"box":{"x":158,"y":846,"width":3,"height":3}},{"id":"437fa163-c0c5-4a96-b563-107898dc0d3b","block_type":"box","text":"Act","page_number":237,"box":{"x":163,"y":846,"width":26,"height":8}},{"id":"9c45d228-1d68-4c3e-a53d-14bad0bda771","block_type":"box","text":"\") (Schemes constituted in EEA States) or section 272 of the Act (Individually recognised overseas","page_number":237,"box":{"x":191,"y":845,"width":732,"height":12}},{"id":"439a6016-f704-40f6-bc76-9361aed78842","block_type":"box","text":"schemes); or","page_number":237,"box":{"x":157,"y":859,"width":96,"height":11}},{"id":"a75b8ae0-8dc2-4bc5-9146-798b1f90808b","block_type":"box","text":"(d) is constituted outside the UK and the investment and borrowing powers of which are the same or more","page_number":237,"box":{"x":110,"y":879,"width":813,"height":11}},{"id":"21f57a92-0a2e-4f56-b67d-8af228826946","block_type":"box","text":"restrictive than those of a non-UCITS retail scheme; or","page_number":237,"box":{"x":158,"y":892,"width":404,"height":11}},{"id":"fc4058f9-f3f5-46c1-abd6-baee890a5aaa","block_type":"box","text":"provided the relevant Sub-Fund complies with paragraph 5.5 below, is a scheme not falling within (a) to (d).","page_number":237,"box":{"x":62,"y":912,"width":793,"height":11}},{"id":"a9cba0a0-fe31-4ebb-9d73-11f8f1c401e5","block_type":"box","text":"Aviva Investors Funds ACS Prospectus","page_number":238,"box":{"x":62,"y":940,"width":204,"height":8}},{"id":"a8bfe8e3-5cfa-4233-bf1f-e5f3180049b1","block_type":"box","text":"(16 October 2026)","page_number":238,"box":{"x":271,"y":940,"width":93,"height":8}},{"id":"0da00a50-0333-4c2e-bd53-5fbd7630fe32","block_type":"box","text":"238","page_number":238,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"72927f43-ef14-419a-b97b-3384bbcacef7","block_type":"box","text":"Aviva Investors: Confidential","page_number":238,"box":{"x":95,"y":960,"width":154,"height":7}},{"id":"8066f923-4d43-48ea-9f0e-2f3e1a6dfb37","block_type":"box","text":"5.5 The Sub-Funds must not invest more than 20% in value of their scheme property in total in units in:","page_number":238,"box":{"x":62,"y":46,"width":780,"height":11}},{"id":"1590f2fa-47d9-4984-8387-ccc3e7581b66","block_type":"box","text":"(a) collective investment schemes that do not fall within paragraph 5.4(a)-(d) above; and","page_number":238,"box":{"x":110,"y":71,"width":674,"height":12}},{"id":"3548ebe7-6528-45d3-97a5-1a23591f3900","block_type":"box","text":"(b) transferable securities which are not approved securities.","page_number":238,"box":{"x":110,"y":97,"width":469,"height":11}},{"id":"d5b6f256-5ab5-42d2-8295-3c9fd4ced06f","block_type":"box","text":"5.6 The Second Scheme must be a scheme which operates on the principle of the prudent spread of risk.","page_number":238,"box":{"x":62,"y":136,"width":799,"height":11}},{"id":"1e79c65a-0cb5-4b3c-af2e-f08263f756d9","block_type":"box","text":"5.7 The Second Scheme must be prohibited from having more than 15 % in value of the property of that scheme","page_number":238,"box":{"x":62,"y":156,"width":861,"height":11}},{"id":"30c45942-a598-424b-9cbd-4335fdfceb09","block_type":"box","text":"consisting of units or shares in collective investment schemes (unless paragraph 5.12 below applies).","page_number":238,"box":{"x":110,"y":169,"width":749,"height":12}},{"id":"1df66a29-8af6-419e-9ac7-1b3717a91f49","block_type":"box","text":"5.8 The participants in the Second Scheme must be entitled to have their Units or shares redeemed in accordance","page_number":238,"box":{"x":62,"y":189,"width":861,"height":11}},{"id":"64961f68-6f99-43fa-a331-8dec4e95d675","block_type":"box","text":"with the scheme at a price related to the net asset value of the property to which the units or shares relate and","page_number":238,"box":{"x":109,"y":203,"width":813,"height":11}},{"id":"24bd65ae-35bf-4fc1-a051-3cd6efe826bd","block_type":"box","text":"determined in accordance with the scheme.","page_number":238,"box":{"x":110,"y":216,"width":321,"height":9}},{"id":"f740fb2a-7e9d-4d39-aff2-2248d107899d","block_type":"box","text":"5.9 Where the Second Scheme is an umbrella, the provisions in paragraphs 5.4 to 5.7 apply to each sub-fund of","page_number":238,"box":{"x":62,"y":236,"width":861,"height":11}},{"id":"af95a969-5ba6-4c9f-9f38-c9cd59b26a69","block_type":"box","text":"the umbrella as if it were a separate scheme.","page_number":238,"box":{"x":109,"y":249,"width":333,"height":11}},{"id":"2316b4cf-e3f6-4a10-ab59-2365eb56f819","block_type":"box","text":"5.10 Subject to paragraphs 5.1, 5.2, 5.10 and 18.6, each Sub-Fund may invest up to 100% of its scheme property","page_number":238,"box":{"x":62,"y":269,"width":861,"height":11}},{"id":"d1e150ef-e88f-4731-bf00-4a8320f986fc","block_type":"box","text":"in the shares/units of other collective investment schemes (“Second Schemes”). In connection with an","page_number":238,"box":{"x":110,"y":283,"width":813,"height":11}},{"id":"a570fd64-0e3b-4a63-b8a0-6131495361d8","block_type":"box","text":"investment in a Second Scheme, the relevant Sub-Fund may be required to pay, or such investment may bear,","page_number":238,"box":{"x":110,"y":296,"width":812,"height":11}},{"id":"ac48a3c0-54a7-4d49-a416-fee3f5585833","block_type":"box","text":"subscription or redemption fees and any other fees (including management fees or equivalent). These would","page_number":238,"box":{"x":110,"y":310,"width":813,"height":11}},{"id":"d267b19e-c821-47d7-ba65-51f7131b7c66","block_type":"box","text":"be in addition to the ACS Management Charge charged to that Sub-Fund or otherwise levied to its Unitholders.","page_number":238,"box":{"x":110,"y":324,"width":812,"height":11}},{"id":"81f1877e-5a43-427a-a9ce-3eda1b951893","block_type":"box","text":"However, either no subscription or redemption fees, or annual management charge, will be charged to the","page_number":238,"box":{"x":110,"y":337,"width":813,"height":12}},{"id":"02288e8b-96b3-4d42-a828-9f6bbb7ec3f3","block_type":"box","text":"relevant Sub-Fund or a full retrocession of the subscription or redemption fees, or annual management charge","page_number":238,"box":{"x":110,"y":351,"width":813,"height":11}},{"id":"54757dbf-a358-4a1f-b156-1ae79ba8412e","block_type":"box","text":"shall be returned to the relevant Sub-Fund, with the exception of (i) such Second Scheme in respect of which","page_number":238,"box":{"x":110,"y":364,"width":813,"height":12}},{"id":"b735976c-2b6a-4732-b45e-70ed6c243cad","block_type":"box","text":"an investment manager has been appointed, whether directly or indirectly, which is not an associate (as defined","page_number":238,"box":{"x":110,"y":378,"width":812,"height":11}},{"id":"4315454a-330a-4843-b5b8-2bf000ccbaec","block_type":"box","text":"by the FCA) of the ACS Manager and (ii) the investment by a Sub-Fund into the sub-funds of the Aviva Investors","page_number":238,"box":{"x":110,"y":392,"width":813,"height":11}},{"id":"9b4bcb2d-4f0a-451d-ab4b-498cc683e3c7","block_type":"box","text":"Liquidity Funds plc, where in either case the Sub-Fund will bear the effect of the annual management charges","page_number":238,"box":{"x":110,"y":406,"width":813,"height":11}},{"id":"71b6d773-b87a-4eff-a525-d448f862156c","block_type":"box","text":"levied by such Second Schemes.","page_number":238,"box":{"x":110,"y":419,"width":245,"height":11}},{"id":"9b5c8446-c372-4746-a678-ec80e41cc175","block_type":"box","text":"5.11 A Sub-Fund may invest in or dispose of units of a Second Sub-Fund providing the Second Sub-Fund is","page_number":238,"box":{"x":62,"y":439,"width":860,"height":11}},{"id":"5a031492-6a49-4296-a8e8-e613a9adeacf","block_type":"box","text":"prohibited from holding units in any other Sub-Fund of the Scheme. Accordingly, all Sub-Funds other than the","page_number":238,"box":{"x":110,"y":452,"width":813,"height":12}},{"id":"a302d931-bbed-46c9-8789-59715e83ed73","block_type":"box","text":"AI Cautious Pension Fund, the AI Balanced Pension Fund, the AI Distribution Life Fund and the AI Balanced","page_number":238,"box":{"x":109,"y":466,"width":813,"height":11}},{"id":"cd6013d1-0ff2-45d8-9fc0-a3551e7a41cd","block_type":"box","text":"Life Fund are prohibited from holding units in any other Sub-Fund of the Scheme.","page_number":238,"box":{"x":110,"y":480,"width":601,"height":11}},{"id":"46fce9da-0af8-4896-8305-3d370f86b95a","block_type":"box","text":"5.12 This rule applies where the Second Scheme is a long-term asset fund provided that:","page_number":238,"box":{"x":62,"y":499,"width":669,"height":12}},{"id":"0518a9d1-2478-4ae6-a30a-de8759f603f6","block_type":"box","text":"5.12.1 the ACS Manager is satisfied that the long-term asset fund’s liquidity, redemption policy and dealing","page_number":238,"box":{"x":121,"y":525,"width":801,"height":11}},{"id":"f76463ca-1ddb-451f-a8a0-e2452ad90413","block_type":"box","text":"arrangements are sufficient for the relevant Sub-Fund to be able to meet its obligations in respect","page_number":238,"box":{"x":193,"y":538,"width":730,"height":12}},{"id":"9a458087-c77f-4236-9752-c8eeabe28def","block_type":"box","text":"of redemptions; and","page_number":238,"box":{"x":193,"y":552,"width":147,"height":11}},{"id":"d923fad0-abf1-4e68-9750-ee5573e4dc81","block_type":"box","text":"5.12.2 if relevant, the ACS Manager ensures that the relevant Sub-Fund’s holdings of units of different","page_number":238,"box":{"x":121,"y":578,"width":802,"height":11}},{"id":"6283af4c-e9c5-43e1-8a61-2f41fce6d145","block_type":"box","text":"long-term asset funds are diversified enough so that it can meet its obligations in respect of","page_number":238,"box":{"x":194,"y":591,"width":729,"height":12}},{"id":"8d9ad52a-8e79-4fe1-acd1-72ce44d9891a","block_type":"box","text":"redemptions.","page_number":238,"box":{"x":194,"y":605,"width":94,"height":11}},{"id":"30e6ed06-2297-401c-bade-afdaefc4002a","block_type":"box","text":"6.","page_number":238,"box":{"x":62,"y":631,"width":12,"height":8}},{"id":"3a7e9652-c8bc-4c74-9219-2ec8ad4e0a45","block_type":"box","text":"Deposits, Cash and Near Cash","page_number":238,"box":{"x":110,"y":631,"width":241,"height":11}},{"id":"ff93401a-854f-4672-bd9a-386677f11c8a","block_type":"box","text":"6.1 A Sub-Fund may invest in deposits only with an Approved Bank (as defined by the FCA) which are repayable","page_number":238,"box":{"x":62,"y":650,"width":861,"height":11}},{"id":"4e8ee81c-e8ec-4d56-b892-85086bd06b1f","block_type":"box","text":"on demand or have the right to be withdrawn, and maturing in no more than 12 months","page_number":238,"box":{"x":110,"y":664,"width":642,"height":11}},{"id":"f04fb044-0b02-4527-9f0d-f524d8f8fa35","block_type":"box","text":".","page_number":238,"box":{"x":754,"y":671,"width":3,"height":1}},{"id":"03c4c2c7-d9a4-4640-956d-1801f4c978db","block_type":"box","text":"6.2 The investment objective and policy of each Sub-Fund may mean that at times it is appropriate not to be fully","page_number":238,"box":{"x":62,"y":683,"width":861,"height":12}},{"id":"c3c1bff1-c0ae-4295-b616-ded73cda9de0","block_type":"box","text":"invested but to hold cash or near cash for reasons other than for the purpose of meeting a Sub-Fund's","page_number":238,"box":{"x":110,"y":697,"width":813,"height":11}},{"id":"fc402da3-8a17-43d2-b520-97641e05212e","block_type":"box","text":"investment objective (where applicable). Cash and near cash must not be retained in the property except to","page_number":238,"box":{"x":110,"y":711,"width":813,"height":11}},{"id":"f102e8f3-61b0-41d6-9400-723beda6ee6e","block_type":"box","text":"the extent that this may reasonably be regarded as necessary in order to enable:","page_number":238,"box":{"x":109,"y":725,"width":598,"height":11}},{"id":"2c9d70ed-b2c1-45f1-8e5f-9d3d58d78e89","block_type":"box","text":"(a) redemption of Units; or","page_number":238,"box":{"x":110,"y":750,"width":216,"height":11}},{"id":"0c0b2d5c-759d-4c63-832d-d49decf30c90","block_type":"box","text":"(b) efficient management of the Sub-Fund in accordance with its investment objectives; or","page_number":238,"box":{"x":110,"y":775,"width":687,"height":12}},{"id":"db467090-3aa6-4087-91b1-f49f7d58a0a2","block_type":"box","text":"(c) other purposes which may reasonably be regarded as ancillary to the investment objectives of the Sub","page_number":238,"box":{"x":110,"y":801,"width":812,"height":11}},{"id":"edd235f1-f2e3-4057-aa81-065c51593685","block_type":"box","text":"Fund; or","page_number":238,"box":{"x":158,"y":815,"width":61,"height":10}},{"id":"c82cede5-a3dc-4177-9ed3-9e1ebc486661","block_type":"box","text":"(d) pursuit of the Sub-Fund's investment objectives.","page_number":238,"box":{"x":110,"y":840,"width":402,"height":11}},{"id":"42f1bd8d-d94a-42e2-8a2a-70076f5074ed","block_type":"box","text":"6.3 During any initial offer period, the property of the Sub-Fund may consist of cash and near cash without limitation.","page_number":238,"box":{"x":62,"y":860,"width":860,"height":11}},{"id":"afea184e-12d5-4f27-9b1a-9eb21481b596","block_type":"box","text":"Aviva Investors Funds ACS Prospectus","page_number":239,"box":{"x":62,"y":940,"width":204,"height":8}},{"id":"39007149-f21c-4d20-9c34-677d44bbb70b","block_type":"box","text":"(16 October 2026)","page_number":239,"box":{"x":271,"y":940,"width":93,"height":8}},{"id":"23d8c5e9-6574-44cf-a48d-eff4a8c09b90","block_type":"box","text":"239","page_number":239,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"16063355-41a2-4668-8250-87454216b0a8","block_type":"box","text":"Aviva Investors: Confidential","page_number":239,"box":{"x":95,"y":960,"width":154,"height":7}},{"id":"35c5bf09-88f6-49e9-a5c5-f8e72f2c7e12","block_type":"box","text":"7.","page_number":239,"box":{"x":62,"y":46,"width":12,"height":8}},{"id":"a3dea882-bafb-4d5d-b86c-bfc99932bd79","block_type":"box","text":"Warrants","page_number":239,"box":{"x":109,"y":46,"width":72,"height":9}},{"id":"84c8d4f7-73bd-448c-850d-ba3d9b739064","block_type":"box","text":"Where a Sub-Fund invests in warrants, the ACS Manager must ensure that upon exercising the right conferred","page_number":239,"box":{"x":109,"y":65,"width":814,"height":11}},{"id":"5e352767-88e1-4692-883d-a56cf7fe5f04","block_type":"box","text":"by the warrant the exposure created does not exceed the general limits on spread of investments set out below.","page_number":239,"box":{"x":110,"y":79,"width":812,"height":11}},{"id":"85dd03d4-f6a6-42d6-b7b2-6ad9d42286d9","block_type":"box","text":"No more than 5 % of any Sub-Fund will be invested in warrants.","page_number":239,"box":{"x":110,"y":93,"width":472,"height":11}},{"id":"44c60a86-7bcc-43c5-ae6c-64242284ba98","block_type":"box","text":"8.","page_number":239,"box":{"x":62,"y":119,"width":12,"height":8}},{"id":"41cdd39c-3ad0-4c9a-bab1-a4b1b5931d29","block_type":"box","text":"Nil and Partly Paid Securities","page_number":239,"box":{"x":110,"y":118,"width":231,"height":11}},{"id":"2a14bfe9-f8ed-4477-91c2-58451083d7e6","block_type":"box","text":"In respect of nil and partly paid securities; a transferable security or approved money-market instrument on","page_number":239,"box":{"x":110,"y":138,"width":812,"height":11}},{"id":"e1abcb3b-b910-4a20-8dfc-78dac060ef67","block_type":"box","text":"which any sum is unpaid falls within a power of investment only if it is reasonably foreseeable that the amount","page_number":239,"box":{"x":109,"y":152,"width":814,"height":11}},{"id":"50152541-c0e6-4e82-b4a4-52ed524d27e6","block_type":"box","text":"of any existing and potential call for any sum unpaid could be paid by the Sub-Funds, at the time when payment","page_number":239,"box":{"x":110,"y":165,"width":813,"height":11}},{"id":"560b259a-b0a0-4685-8244-e7c0c6da3858","block_type":"box","text":"is required, without contravening the rules in COLL 5.","page_number":239,"box":{"x":110,"y":179,"width":393,"height":11}},{"id":"6aeff1c9-03aa-4ad1-84e5-fe8c42a6256e","block_type":"box","text":"9.","page_number":239,"box":{"x":62,"y":205,"width":12,"height":8}},{"id":"29edae7d-f0bd-4b1b-8a0b-31a566d31f72","block_type":"box","text":"General - Derivatives and Forward Transactions","page_number":239,"box":{"x":110,"y":204,"width":380,"height":9}},{"id":"32c75ffe-ff9a-445c-ad65-de63f06a8e1e","block_type":"box","text":"9.1 The Sub-Funds may use derivatives to hedge market and currency risk for the purposes of efficient portfolio","page_number":239,"box":{"x":62,"y":224,"width":861,"height":11}},{"id":"773cd0f9-8367-42b9-84a7-27e9aa1add2d","block_type":"box","text":"management (as described in paragraph 9.2) and in pursuit of the Sub-Funds' investment objectives.","page_number":239,"box":{"x":110,"y":237,"width":746,"height":12}},{"id":"7b3684f2-9f42-417d-bfba-1c78f5a9fca4","block_type":"box","text":"The use of derivatives for the purpose of hedging and managing risk and for efficient portfolio management","page_number":239,"box":{"x":62,"y":257,"width":861,"height":11}},{"id":"42b4a8ca-1123-4f82-ae3e-7634e506c65a","block_type":"box","text":"is not intended to increase the risk profile of the Sub-Funds. The ACS Manager uses a risk management","page_number":239,"box":{"x":63,"y":271,"width":860,"height":11}},{"id":"d6c01738-0449-448d-ae69-ba3b45ccaf36","block_type":"box","text":"process, to monitor and measure as frequently as appropriate the risk of a Sub-Fund's portfolio and","page_number":239,"box":{"x":62,"y":284,"width":861,"height":12}},{"id":"5750f651-db5a-4724-b87b-06ce72514eb3","block_type":"box","text":"contribution of the underlying investments to the overall risk profile of the Sub-Fund.","page_number":239,"box":{"x":62,"y":298,"width":678,"height":11}},{"id":"2fbd401a-9e54-480e-be95-9e28dacf281e","block_type":"box","text":"However, the use of derivatives may expose the Sub-Funds to a higher degree of risk. In particular, derivative","page_number":239,"box":{"x":63,"y":318,"width":860,"height":11}},{"id":"f6c082bd-3de1-4542-ae2a-918b3f2181b3","block_type":"box","text":"contracts can be highly volatile, and the amount of initial margin is generally small, relative to size of the","page_number":239,"box":{"x":62,"y":331,"width":861,"height":12}},{"id":"1582f406-0d36-4194-b687-28e83a95e60f","block_type":"box","text":"contract, so that transactions are geared. A relatively small market movement may have a potentially larger","page_number":239,"box":{"x":62,"y":345,"width":861,"height":11}},{"id":"aca0d465-0327-4117-a906-ea16060fb0e2","block_type":"box","text":"impact on derivatives than in standard bonds or equities.","page_number":239,"box":{"x":63,"y":359,"width":454,"height":11}},{"id":"55b5b803-5480-48a6-bcbf-8e50f3492bbb","block_type":"box","text":"The use of derivatives in pursuit of the investment objectives of the Sub-Funds may alter the risk profile of","page_number":239,"box":{"x":62,"y":378,"width":861,"height":11}},{"id":"7d9bc493-b88c-44e8-9387-bfd37f25885d","block_type":"box","text":"the Sub-Funds and lead to higher volatility in the Unit price of the Sub-Funds.","page_number":239,"box":{"x":62,"y":392,"width":617,"height":11}},{"id":"9e000e04-66df-411f-9d1f-93a4181d6b96","block_type":"box","text":"9.2 Where such techniques and instruments relate to the use of derivatives which are used for the purpose of","page_number":239,"box":{"x":62,"y":411,"width":861,"height":12}},{"id":"26c7c3b1-0970-4377-8291-8cf7a6823bed","block_type":"box","text":"efficient portfolio management, they will only be used in accordance with the following criteria:","page_number":239,"box":{"x":110,"y":425,"width":693,"height":11}},{"id":"451f5dfb-5346-4a43-aa3b-19a998c4e346","block_type":"box","text":"(a) They are economically appropriate in that they are realised in a cost effective way.","page_number":239,"box":{"x":110,"y":451,"width":656,"height":11}},{"id":"9faf7c2c-84a4-4a2d-b9e7-0c20f98ca2b8","block_type":"box","text":"(b) They are entered into for one or more of the following specific aims:","page_number":239,"box":{"x":110,"y":470,"width":546,"height":12}},{"id":"2d721a04-8b52-447e-9c80-f6ddb7253a49","block_type":"box","text":"","page_number":239,"box":{"x":157,"y":494,"width":6,"height":4}},{"id":"1999b45f-186a-492a-bddf-d52a702d44ad","block_type":"box","text":"reduction of risk;","page_number":239,"box":{"x":188,"y":491,"width":121,"height":10}},{"id":"db801f75-9ffc-4c65-ab08-9a6286c5454e","block_type":"box","text":"","page_number":239,"box":{"x":157,"y":514,"width":6,"height":5}},{"id":"96439f3a-83cd-4bbe-8ccf-3758cac76fb5","block_type":"box","text":"reduction of costs; or","page_number":239,"box":{"x":188,"y":511,"width":155,"height":11}},{"id":"7d7dd9e3-4c07-4136-81d6-755bef2201df","block_type":"box","text":"","page_number":239,"box":{"x":157,"y":535,"width":6,"height":4}},{"id":"1dccbb57-dcec-445f-bd6b-112bb5436366","block_type":"box","text":"generation of additional capital or income for the Sub-Fund with a level of risk which is consistent","page_number":239,"box":{"x":187,"y":532,"width":736,"height":11}},{"id":"d1ca1ef4-553d-4840-873d-88f1e621ce82","block_type":"box","text":"with the risk profile of the Sub-Fund.","page_number":239,"box":{"x":187,"y":545,"width":267,"height":11}},{"id":"5b0f2a10-bb5a-40a7-bba9-6b260f1a3cb5","block_type":"box","text":"(c) Their risks are adequately captured by the ACS Manager's risk management process.","page_number":239,"box":{"x":110,"y":571,"width":683,"height":11}},{"id":"eac5c64a-75fb-4f4b-bea3-6401ec3babd9","block_type":"box","text":"9.3 The ACS Manager uses a risk management process, as reviewed by the Depositary, enabling it to monitor and","page_number":239,"box":{"x":62,"y":590,"width":860,"height":12}},{"id":"9957dcca-645c-4263-9aa5-e613b9b24bf3","block_type":"box","text":"measure as frequently as appropriate the risk of a Sub-Fund's positions and their contribution to the overall risk","page_number":239,"box":{"x":110,"y":604,"width":813,"height":11}},{"id":"e7d61ba8-98d7-4c1e-a5f4-7adda22dddd7","block_type":"box","text":"profile of that Sub-Fund. The details of the risk management process include the information as set out in","page_number":239,"box":{"x":110,"y":617,"width":812,"height":12}},{"id":"dd583b6c-ea0c-42d0-81b5-ae6983fbc9b9","block_type":"box","text":"paragraphs 1.3 and 10.9 of this Appendix 6.","page_number":239,"box":{"x":110,"y":631,"width":323,"height":11}},{"id":"2dbf2a4b-1f5f-4f8f-a49e-d5ff0b114111","block_type":"box","text":"10.","page_number":239,"box":{"x":63,"y":657,"width":20,"height":9}},{"id":"3129056c-c2f2-4d85-8e21-2b1f7a965d5f","block_type":"box","text":"Derivatives General","page_number":239,"box":{"x":110,"y":657,"width":154,"height":9}},{"id":"d980cb29-2256-45ed-858a-63c08a980d49","block_type":"box","text":"10.1 A transaction in derivatives or a forward transaction must not be effected for a Sub-Fund unless the transaction","page_number":239,"box":{"x":63,"y":676,"width":859,"height":9}},{"id":"56174370-2106-451c-b3cb-4c2efc23b19c","block_type":"box","text":"is of a kind set out in section 12 of this Appendix 6 and the transaction is covered, as set out in paragraphs","page_number":239,"box":{"x":110,"y":690,"width":813,"height":11}},{"id":"89b61f6b-e515-4732-ba22-2668a7b0a7f2","block_type":"box","text":"11.1 to 11.3 of this Appendix 6.","page_number":239,"box":{"x":111,"y":704,"width":228,"height":11}},{"id":"749e4457-2eac-429c-8f8c-345cfd34ba32","block_type":"box","text":"10.2 Where a Sub-Fund invests in derivatives, the exposure to the underlying assets must not exceed the limits set","page_number":239,"box":{"x":63,"y":723,"width":860,"height":11}},{"id":"ec28c10d-1d04-4a1b-a2fb-06909827d393","block_type":"box","text":"out in the COLL Sourcebook in relation to spread except for index based derivatives where the rules below","page_number":239,"box":{"x":110,"y":737,"width":813,"height":11}},{"id":"7694ee46-e1e2-4332-95c7-90cc26a5b18f","block_type":"box","text":"apply.","page_number":239,"box":{"x":110,"y":751,"width":42,"height":11}},{"id":"5c439f07-75ec-45f5-b773-02492ca3ae90","block_type":"box","text":"10.3 Where a transferable security or approved money-market instrument embeds a derivative, this must be taken","page_number":239,"box":{"x":63,"y":770,"width":859,"height":11}},{"id":"eabc225b-c51a-42b9-9549-5ff4b9b460da","block_type":"box","text":"into account for the purposes of complying with this section 10.","page_number":239,"box":{"x":110,"y":784,"width":464,"height":11}},{"id":"aa72337c-c20c-4343-a91c-4d9f5819b3e0","block_type":"box","text":"10.4 A transferable security or an approved money-market instrument will embed a derivative if it contains a","page_number":239,"box":{"x":63,"y":803,"width":860,"height":12}},{"id":"59a42a14-0cf2-4842-b628-4aca5fa92c64","block_type":"box","text":"component which fulfils the following criteria:","page_number":239,"box":{"x":110,"y":817,"width":329,"height":11}},{"id":"fd9adc3c-e651-4a97-8655-298febdc7ff5","block_type":"box","text":"(a) by virtue of that component some or all of the cash flows that otherwise would be required by the","page_number":239,"box":{"x":110,"y":843,"width":813,"height":11}},{"id":"ac7f02f9-83a8-4d81-8ab6-93b0c0bcbfb1","block_type":"box","text":"transferable security or approved money-market instrument which functions as host contract can be","page_number":239,"box":{"x":157,"y":856,"width":766,"height":11}},{"id":"5f91d82d-b441-458d-ac65-6320ddfb5373","block_type":"box","text":"modified according to a specified interest rate, financial instrument price, foreign exchange rate, index of","page_number":239,"box":{"x":158,"y":870,"width":765,"height":11}},{"id":"21119fd8-6421-46f9-8de1-f46ba9f34a62","block_type":"box","text":"Aviva Investors Funds ACS Prospectus","page_number":240,"box":{"x":62,"y":940,"width":204,"height":8}},{"id":"fc82c187-4686-4bc3-ac76-6219d2a7c301","block_type":"box","text":"(16 October 2026)","page_number":240,"box":{"x":271,"y":940,"width":93,"height":8}},{"id":"48bb2f6c-ad2e-4500-9c60-5349b7a7d08a","block_type":"box","text":"240","page_number":240,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"271200df-a63c-4a3b-9465-d2614803d7b7","block_type":"box","text":"Aviva Investors: Confidential","page_number":240,"box":{"x":95,"y":960,"width":154,"height":7}},{"id":"2e3bf6c9-35b1-482e-b514-703287d17906","block_type":"box","text":"prices or rates, credit rating or credit index or other variable, and therefore vary in a way similar to a","page_number":240,"box":{"x":158,"y":46,"width":765,"height":11}},{"id":"327750f8-5d66-4313-a63a-90cc5f4436c3","block_type":"box","text":"stand-alone derivative;","page_number":240,"box":{"x":157,"y":60,"width":167,"height":10}},{"id":"c679a955-0e8c-450f-86d7-a07bb03f3ec1","block_type":"box","text":"(b) its economic characteristics and risks are not closely related to the economic characteristics and risks of","page_number":240,"box":{"x":110,"y":79,"width":813,"height":11}},{"id":"dfd5c089-37fa-4a18-9683-72ea007c039e","block_type":"box","text":"the host contract; and","page_number":240,"box":{"x":157,"y":93,"width":160,"height":10}},{"id":"36c4b96d-4fbf-44f4-b8e4-58f8d9f8d0b2","block_type":"box","text":"it has a significant impact on the risk profile and pricing of the transferable security or approved money-market","page_number":240,"box":{"x":62,"y":112,"width":861,"height":12}},{"id":"632b259b-ac10-447c-b107-0a3ab65e49c8","block_type":"box","text":"instrument.","page_number":240,"box":{"x":62,"y":126,"width":81,"height":9}},{"id":"ac765193-a32f-44a7-b0a2-e8c345ee3699","block_type":"box","text":"10.5 A transferable security or an approved money-market instrument does not embed a derivative where it contains","page_number":240,"box":{"x":63,"y":146,"width":860,"height":11}},{"id":"5ca587ad-9b31-4c45-a70b-787fda6631a1","block_type":"box","text":"a component which is contractually transferable independently of the transferable security or the approved","page_number":240,"box":{"x":110,"y":159,"width":812,"height":11}},{"id":"18387271-ae23-4072-9227-fb523806bef2","block_type":"box","text":"money-market instrument. That component shall be deemed to be a separate instrument.","page_number":240,"box":{"x":110,"y":173,"width":660,"height":11}},{"id":"e8c0e6df-d648-437b-aa44-5c342dc4533b","block_type":"box","text":"10.6 Where a Sub-Fund invests in an index based derivative, provided the relevant index falls within COLL 5.6.23R","page_number":240,"box":{"x":63,"y":192,"width":860,"height":11}},{"id":"14fc90e9-485d-4b56-b959-d56840711844","block_type":"box","text":"(Schemes replicating an index) the underlying constituents of the index do not have to be taken into account","page_number":240,"box":{"x":110,"y":206,"width":813,"height":11}},{"id":"c91d1a44-c60e-4cab-9c6e-e73ccb0cfb91","block_type":"box","text":"for the purposes of COLL 5.6.7R and COLL 5.6.8R.","page_number":240,"box":{"x":109,"y":220,"width":381,"height":11}},{"id":"b79289c8-a437-4d23-b617-0f597a6c5a4c","block_type":"box","text":"10.7 The relaxation of 10.6 is subject to the ACS Manager taking account of COLL 5.6.3 (Prudent spread of risk).","page_number":240,"box":{"x":63,"y":239,"width":846,"height":12}},{"id":"72fea48c-3feb-4513-b297-fc8ea98ab9e1","block_type":"box","text":"10.8 Where derivative instruments are used, the overall risk profile of a Sub-Fund may be increased. The ACS","page_number":240,"box":{"x":63,"y":259,"width":859,"height":11}},{"id":"0bfa7f77-2eec-4616-af0c-20f7187514bd","block_type":"box","text":"Manager will ensure that the global exposure generated by using financial derivative instruments on the","page_number":240,"box":{"x":110,"y":273,"width":813,"height":11}},{"id":"cbcf3f74-ff87-4474-a28d-2f1337bf2261","block_type":"box","text":"underlying assets of that Sub-Fund shall not exceed the total net value of the Sub-Fund.","page_number":240,"box":{"x":110,"y":286,"width":651,"height":11}},{"id":"e7b23303-3d0a-4883-b704-e583a7f5a458","block_type":"box","text":"10.9 Accordingly, where derivative instruments are used, the ACS Manager will employ a risk-management process","page_number":240,"box":{"x":63,"y":306,"width":860,"height":11}},{"id":"57f889d0-ac3c-48b7-bc90-4b65aa125965","block_type":"box","text":"which enables the ACS Manager to monitor and measure at any time the risk of the positions and their","page_number":240,"box":{"x":109,"y":319,"width":814,"height":12}},{"id":"f88d7664-51cc-4b7f-8e55-240cbbe908cc","block_type":"box","text":"contribution to the overall risk profile of the relevant Sub-Fund. The ACS Manager measures the global","page_number":240,"box":{"x":110,"y":333,"width":812,"height":11}},{"id":"6ff42e5b-e9fd-454f-bdbf-073f7118f611","block_type":"box","text":"exposure of each Sub-Fund by way of the gross and commitment methods as prescribed by ESMA and in","page_number":240,"box":{"x":110,"y":347,"width":812,"height":11}},{"id":"64a8882a-c5c5-4485-b80b-8a8e3d06737d","block_type":"box","text":"accordance with the UK AIFM Regime. Further details about the calculation methodology and the limits","page_number":240,"box":{"x":110,"y":361,"width":813,"height":11}},{"id":"36fd88d7-c5dd-4476-909f-e99fafcea8b0","block_type":"box","text":"applying to each Sub-Fund can be found in section 24 above and Appendix 1.","page_number":240,"box":{"x":110,"y":374,"width":576,"height":11}},{"id":"3bdc89b6-a98b-478d-b20f-78d2ffdf10a4","block_type":"box","text":"11.","page_number":240,"box":{"x":63,"y":400,"width":20,"height":8}},{"id":"f9055e3c-b9cd-4c69-9b1e-3c498892796d","block_type":"box","text":"Cover for transactions in derivatives and forward transactions","page_number":240,"box":{"x":110,"y":400,"width":495,"height":9}},{"id":"a8df08a2-9599-44e9-a3a0-018c0a55e3e7","block_type":"box","text":"11.1 The ACS Manager will ensure that a transaction in derivatives or forwards is entered into only if the related","page_number":240,"box":{"x":63,"y":419,"width":859,"height":11}},{"id":"b899a209-5867-4aec-a185-3cb643326a33","block_type":"box","text":"global exposure does not exceed the total net value of a Sub-Fund.","page_number":240,"box":{"x":110,"y":433,"width":497,"height":11}},{"id":"ebc8516f-a8f1-41b5-b846-c1b2eceb3a52","block_type":"box","text":"11.2 The global exposure is calculated taking into account the current value of the underlying assets, the","page_number":240,"box":{"x":63,"y":453,"width":860,"height":11}},{"id":"66e8101c-2282-4424-8a1b-f2706e2baa2e","block_type":"box","text":"counterparty risk, future market movements and the time available to liquidate the positions.","page_number":240,"box":{"x":110,"y":466,"width":679,"height":11}},{"id":"3e869c97-6e40-4d4f-a738-ed3e5a1d4218","block_type":"box","text":"11.3 Property which is subject to a stock lending transaction (as described in section 19 of this Appendix 6) is only","page_number":240,"box":{"x":63,"y":486,"width":860,"height":11}},{"id":"f7165a9c-17e9-4bfc-94f7-ca724459fe5e","block_type":"box","text":"available for cover if the ACS Manager has taken reasonable care to determine that it is obtainable (by return","page_number":240,"box":{"x":110,"y":499,"width":812,"height":12}},{"id":"acf1b45d-9616-4ee6-b7e7-ff28028ba368","block_type":"box","text":"or re-acquisition) in time to meet the obligation for which cover is required.","page_number":240,"box":{"x":110,"y":513,"width":547,"height":11}},{"id":"f1fa3dc8-ac9c-467f-a052-d417a0838418","block_type":"box","text":"12.","page_number":240,"box":{"x":63,"y":539,"width":20,"height":8}},{"id":"3f4e6283-398b-4069-bda0-61cb5c652ba5","block_type":"box","text":"Permitted Transactions in Derivatives and Forwards","page_number":240,"box":{"x":110,"y":539,"width":414,"height":9}},{"id":"3c5b5c1e-61e2-407f-ae3d-dbaffe052a4f","block_type":"box","text":"12.1 A transaction in a derivative must be:","page_number":240,"box":{"x":63,"y":558,"width":320,"height":9}},{"id":"93139c08-fe4d-4512-ad42-fdffa8e61034","block_type":"box","text":"(a) in an approved derivative; or","page_number":240,"box":{"x":110,"y":584,"width":258,"height":11}},{"id":"090cf339-e33a-40a9-bb1e-b87d7bde72c6","block_type":"box","text":"(b) be one which complies with section 22 of this Appendix 6.","page_number":240,"box":{"x":110,"y":609,"width":473,"height":11}},{"id":"a2260740-55b4-45bb-b662-002bc299f87c","block_type":"box","text":"12.2 A transaction in a derivative must have the underlying consisting of any one or more of the following to which","page_number":240,"box":{"x":63,"y":629,"width":859,"height":11}},{"id":"1e1191eb-0ebd-4746-9098-f26dff5d340a","block_type":"box","text":"a Sub-Fund is dedicated:","page_number":240,"box":{"x":110,"y":642,"width":184,"height":9}},{"id":"94efe04d-5a34-4e8c-bb7a-f9cc153d6532","block_type":"box","text":"(a) transferable securities;","page_number":240,"box":{"x":110,"y":668,"width":214,"height":11}},{"id":"556cb28e-648a-4820-becd-14ded386fca7","block_type":"box","text":"(b) money-market instruments;","page_number":240,"box":{"x":110,"y":688,"width":249,"height":11}},{"id":"b0ec492c-ff8b-4ef3-9ffd-cb6d53bb51d2","block_type":"box","text":"(c) permitted deposits under paragraph 6 of this Appendix 6;","page_number":240,"box":{"x":110,"y":707,"width":468,"height":11}},{"id":"d28d096d-b78a-4e87-97f4-6e1c40124ffb","block_type":"box","text":"(d) permitted derivatives under this paragraph 12;","page_number":240,"box":{"x":110,"y":727,"width":388,"height":11}},{"id":"ab8071ab-ffda-4a4d-bbdf-d282f7647643","block_type":"box","text":"(e) collective investment scheme Units permitted under paragraph 5 of this Appendix 6;","page_number":240,"box":{"x":110,"y":746,"width":667,"height":12}},{"id":"35faa66e-2c94-432f-8a9d-bc73ce9964ff","block_type":"box","text":"(f) permitted immovables;","page_number":240,"box":{"x":110,"y":766,"width":214,"height":11}},{"id":"8b8d4900-7b4f-4ac0-9263-1d18b2227f71","block_type":"box","text":"(g) gold (up to the value of 10% in value of the Scheme Property);","page_number":240,"box":{"x":110,"y":785,"width":508,"height":12}},{"id":"a8fc2d38-1bef-4647-a368-d8145ea15f9d","block_type":"box","text":"(h) financial indices which satisfy the criteria set out below;","page_number":240,"box":{"x":110,"y":805,"width":455,"height":11}},{"id":"41430b90-7691-4d6e-9327-5a139e4b55a2","block_type":"box","text":"(i) interest rates;","page_number":240,"box":{"x":110,"y":825,"width":147,"height":11}},{"id":"2ab76822-c907-4443-9072-1ddd121c45b5","block_type":"box","text":"(j) foreign exchange rates; and","page_number":240,"box":{"x":110,"y":844,"width":254,"height":12}},{"id":"4a927a2d-8d8f-4000-ac91-5fb85e5e7971","block_type":"box","text":"currencies.","page_number":240,"box":{"x":62,"y":864,"width":80,"height":9}},{"id":"e2d583de-3f13-41c6-aac2-deee79b4d5c9","block_type":"box","text":"12.3 The exposure to the underlyings in paragraph 12.2 of this Appendix 6 must not exceed the limits relating to","page_number":240,"box":{"x":63,"y":884,"width":860,"height":11}},{"id":"efeeeca2-76fc-4a43-9682-f6641076df39","block_type":"box","text":"spread set out in the COLL Sourcebook.","page_number":240,"box":{"x":110,"y":897,"width":297,"height":11}},{"id":"8ede0cdf-6b66-45e0-8078-e5a006be2ddd","block_type":"box","text":"12.4 A transaction in an approved derivative must be effected on or under the rules of an eligible derivatives market.","page_number":240,"box":{"x":63,"y":917,"width":859,"height":11}},{"id":"11a35984-4132-4ea1-9ff0-bf0c52789bab","block_type":"box","text":"Aviva Investors Funds ACS Prospectus","page_number":241,"box":{"x":62,"y":940,"width":204,"height":8}},{"id":"c31e548d-c927-4d5e-a601-e0d433647a52","block_type":"box","text":"(16 October 2026)","page_number":241,"box":{"x":271,"y":940,"width":93,"height":8}},{"id":"061cc6a3-931a-4e40-b04f-28dc1f0ffd64","block_type":"box","text":"241","page_number":241,"box":{"x":780,"y":940,"width":17,"height":6}},{"id":"5f373828-6b39-43d0-ba20-1193a5723e10","block_type":"box","text":"Aviva Investors: Confidential","page_number":241,"box":{"x":95,"y":960,"width":154,"height":7}},{"id":"d9f49d40-b565-456c-a284-50c285fdae93","block_type":"box","text":"12.5 A transaction in a derivative must not cause a Sub-Fund to diverge from its investment objectives as stated in","page_number":241,"box":{"x":63,"y":46,"width":859,"height":11}},{"id":"7014c140-615a-475b-9cda-a05181046008","block_type":"box","text":"the ACS Deed and the most recently published version of this Prospectus.","page_number":241,"box":{"x":109,"y":59,"width":549,"height":12}},{"id":"d854755f-dad7-40fd-9049-cd98c5c806bd","block_type":"box","text":"12.6 A transaction in a derivative must not be entered into if the intended effect is to create the potential for an","page_number":241,"box":{"x":63,"y":79,"width":859,"height":11}},{"id":"fe366710-8aca-48d3-b329-1180e010814e","block_type":"box","text":"uncovered sale of transferable securities, money-market instruments, Units in collective investment schemes,","page_number":241,"box":{"x":110,"y":93,"width":812,"height":11}},{"id":"bfac5019-79b5-412f-90fe-eeb3ae901f3f","block_type":"box","text":"or derivatives, provided that a sale is not to be considered as uncovered if the conditions in paragraph 14.2 of","page_number":241,"box":{"x":110,"y":106,"width":813,"height":12}},{"id":"7fa15fba-924f-4448-8c03-8031b1c86b26","block_type":"box","text":"this Appendix 6 are satisfied.","page_number":241,"box":{"x":109,"y":120,"width":213,"height":11}},{"id":"dda75e06-9f0c-4625-8f4a-89f50265014b","block_type":"box","text":"12.7 Any forward transaction must be with an Eligible Institution or an Approved Bank (as defined by the FCA).","page_number":241,"box":{"x":63,"y":139,"width":828,"height":12}},{"id":"8bf3d527-99d7-45ee-b8a5-f836ccc97693","block_type":"box","text":"12.8 All derivatives transactions are deemed to be free of counterparty risk if they are performed on an exchange","page_number":241,"box":{"x":63,"y":159,"width":860,"height":11}},{"id":"3c08f6eb-5cf8-4ab3-8b4f-f61e4e92e67e","block_type":"box","text":"where the clearing house is backed by an appropriate performance guarantee; and it is characterised by a daily","page_number":241,"box":{"x":109,"y":173,"width":814,"height":11}},{"id":"315abe60-848f-4661-b7e4-408b8566ab1c","block_type":"box","text":"mark-to-market valuation of the derivative positions and at least daily margining.","page_number":241,"box":{"x":110,"y":187,"width":591,"height":11}},{"id":"ab74727f-fcf0-4126-9e26-63ebce53dddd","block_type":"box","text":"13.","page_number":241,"box":{"x":63,"y":212,"width":20,"height":9}},{"id":"d2cb8e8c-54c4-4cf1-b11f-9880ffaca4fd","block_type":"box","text":"Transactions for the purchase of property","page_number":241,"box":{"x":109,"y":212,"width":334,"height":11}},{"id":"f53c724a-cd76-44fb-973f-4e6b51537e33","block_type":"box","text":"A derivative or forward transaction which will or could lead to the delivery of property for the account of a Sub","page_number":241,"box":{"x":109,"y":231,"width":814,"height":12}},{"id":"8c528b1c-757b-4802-a5c7-3b2ef87518cc","block_type":"box","text":"Fund may be entered into only if that property can be held for the account of a Sub-Fund, and the ACS Manager","page_number":241,"box":{"x":110,"y":245,"width":813,"height":11}},{"id":"0e11972b-ec26-4cf8-8ff1-bd2c5449c342","block_type":"box","text":"having taken reasonable care determines that delivery of the property under the transaction will not occur or","page_number":241,"box":{"x":110,"y":259,"width":813,"height":11}},{"id":"45eda931-527c-47e8-82a2-c69f5598765f","block_type":"box","text":"will not lead to a breach of the rules in the COLL Sourcebook.","page_number":241,"box":{"x":109,"y":273,"width":456,"height":8}},{"id":"abaddd1c-fb67-4892-a070-00cd9f889477","block_type":"box","text":"14.","page_number":241,"box":{"x":63,"y":298,"width":20,"height":9}},{"id":"dbd6f13b-0d30-417d-9531-0fd018db6500","block_type":"box","text":"Requirement to cover sales","page_number":241,"box":{"x":110,"y":298,"width":218,"height":11}},{"id":"8ea07877-309e-463c-ba72-163575db7fc8","block_type":"box","text":"14.1 A transaction in a derivative must not be entered into if the intended effect is to create the potential for an","page_number":241,"box":{"x":63,"y":318,"width":859,"height":11}},{"id":"bb0787ee-048a-4bda-86be-e4b84b1111c3","block_type":"box","text":"uncovered sale of one or more, transferable securities, approved money-market instruments, Units in collective","page_number":241,"box":{"x":110,"y":331,"width":813,"height":11}},{"id":"4b33b88e-e628-4b27-b73f-11ce9515d8a9","block_type":"box","text":"investment schemes, or derivatives.","page_number":241,"box":{"x":110,"y":345,"width":264,"height":10}},{"id":"16d6277e-9132-40ce-877d-2c289021ed65","block_type":"box","text":"14.2 A sale is not to be considered as uncovered if:","page_number":241,"box":{"x":63,"y":365,"width":388,"height":8}},{"id":"42af8915-8ab0-4a16-8152-1e4c91f35b87","block_type":"box","text":"(a) the risks of the underlying financial instrument of a derivative can be appropriately represented by","page_number":241,"box":{"x":110,"y":390,"width":813,"height":11}},{"id":"498f04a2-d2f1-4224-a28d-202be880f830","block_type":"box","text":"another financial instrument and the underlying financial instrument is highly liquid; or","page_number":241,"box":{"x":157,"y":404,"width":632,"height":11}},{"id":"9dcc0206-80b4-4281-9471-87829e7837cd","block_type":"box","text":"(b) the ACS Manager or the Depositary has the right to settle the derivative in cash, and cover exists within","page_number":241,"box":{"x":110,"y":423,"width":812,"height":12}},{"id":"332f5e4d-2370-43cd-8527-0bc55b226c9b","block_type":"box","text":"the Scheme property which falls within one of the following asset classes:","page_number":241,"box":{"x":157,"y":437,"width":543,"height":11}},{"id":"059aa4b9-435a-4390-8cf3-b743f2a2278f","block_type":"box","text":"","page_number":241,"box":{"x":157,"y":461,"width":6,"height":4}},{"id":"85472aa9-5da4-4474-958b-13c21c881864","block_type":"box","text":"cash;","page_number":241,"box":{"x":187,"y":458,"width":38,"height":10}},{"id":"9fd085d8-c074-4097-b967-22d2a178bfc5","block_type":"box","text":"","page_number":241,"box":{"x":157,"y":481,"width":6,"height":4}},{"id":"d29e1228-0cdd-40e8-811d-8fc014e8e381","block_type":"box","text":"liquid debt instruments (e.g. government bonds of first credit rating) with appropriate safeguards (in","page_number":241,"box":{"x":188,"y":478,"width":734,"height":11}},{"id":"f000c35d-57bf-473e-aec6-571ed33063a3","block_type":"box","text":"particular, haircuts); or","page_number":241,"box":{"x":188,"y":491,"width":166,"height":12}},{"id":"392d76ed-4210-44a4-844c-7901f8fd004b","block_type":"box","text":"","page_number":241,"box":{"x":157,"y":515,"width":6,"height":4}},{"id":"56955742-4280-46bb-be6d-c6bf6644c9e5","block_type":"box","text":"other highly liquid assets having regard to their correlation with the underlying of the financial","page_number":241,"box":{"x":187,"y":512,"width":735,"height":11}},{"id":"9c12f397-2e1e-479a-bcad-60e5a3a702d7","block_type":"box","text":"derivative instruments, subject to appropriate safeguards (e.g. haircuts where relevant).","page_number":241,"box":{"x":187,"y":526,"width":647,"height":11}},{"id":"9a567c4d-2272-4788-aaea-ce5e9e4ae562","block_type":"box","text":"14.3 In the asset classes referred to in paragraph 14.2 of this Appendix 6 are satisfied, an asset may be considered","page_number":241,"box":{"x":63,"y":545,"width":859,"height":11}},{"id":"6e7c8187-10c2-4150-b58e-8a197d941e0e","block_type":"box","text":"as liquid where the instrument can be converted into cash in no more than seven Business Days at a price","page_number":241,"box":{"x":110,"y":559,"width":813,"height":11}},{"id":"518fede0-a72e-43e3-b811-eb8633397dcc","block_type":"box","text":"closely corresponding to the current valuation of the financial instrument on its own market.","page_number":241,"box":{"x":110,"y":573,"width":672,"height":11}},{"id":"34ceafb5-d061-499d-b5bd-d8a8c054859d","block_type":"box","text":"15.","page_number":241,"box":{"x":63,"y":598,"width":20,"height":9}},{"id":"31d3ebeb-f228-42d9-bc8f-8c3bd2ed9387","block_type":"box","text":"Financial indices underlying derivatives","page_number":241,"box":{"x":110,"y":598,"width":317,"height":11}},{"id":"9ac97342-33a2-43cb-8dfa-f4557f8f1a27","block_type":"box","text":"15.1 Where a Sub-Fund holds an index-based derivative, the financial index must satisfy the following criteria:","page_number":241,"box":{"x":63,"y":617,"width":822,"height":12}},{"id":"f9f1e171-51c4-424f-8f0b-432df723e262","block_type":"box","text":"","page_number":241,"box":{"x":110,"y":641,"width":6,"height":4}},{"id":"aae04c2c-3c6b-4c8c-b800-a5dfe1f10826","block_type":"box","text":"the index is sufficiently diversified;","page_number":241,"box":{"x":139,"y":638,"width":252,"height":11}},{"id":"3a4038a6-ebdc-4901-a937-2ac40652a72c","block_type":"box","text":"","page_number":241,"box":{"x":110,"y":662,"width":6,"height":4}},{"id":"f3dee253-f26e-4157-b096-7a6b6b482f48","block_type":"box","text":"the index represents an adequate benchmark for the market to which it refers; and","page_number":241,"box":{"x":139,"y":658,"width":610,"height":11}},{"id":"3fd88f09-3b2b-42d6-8628-df7bf01d2713","block_type":"box","text":"","page_number":241,"box":{"x":110,"y":682,"width":6,"height":4}},{"id":"42ef6dd3-2e17-465e-b97b-e50a59de73bd","block_type":"box","text":"the index is published in an appropriate manner.","page_number":241,"box":{"x":139,"y":679,"width":357,"height":11}},{"id":"e341dcb4-70b4-4741-9737-3cb0414ee189","block_type":"box","text":"15.2 A financial index is sufficiently diversified if:","page_number":241,"box":{"x":63,"y":698,"width":365,"height":11}},{"id":"e0b0d3f2-4630-48fc-8b8d-4c8afefa275b","block_type":"box","text":"","page_number":241,"box":{"x":110,"y":722,"width":6,"height":4}},{"id":"2db5d391-1378-4044-9136-20800dc1c802","block_type":"box","text":"it is composed in such a way that price movements or trading activities regarding one component do not","page_number":241,"box":{"x":140,"y":719,"width":783,"height":11}},{"id":"a72fb1c2-3600-4868-b784-38a559c1c939","block_type":"box","text":"unduly influence the performance of the whole index;","page_number":241,"box":{"x":140,"y":732,"width":391,"height":12}},{"id":"e9155fde-2c4b-41c5-810a-949d01cb3eb3","block_type":"box","text":"","page_number":241,"box":{"x":110,"y":756,"width":6,"height":4}},{"id":"14ec1989-847d-46c5-8946-16eaa1004b53","block_type":"box","text":"where it is composed of assets in which a Sub-Fund is permitted to invest, its composition is at least","page_number":241,"box":{"x":139,"y":753,"width":784,"height":11}},{"id":"a5bf03ed-c360-476c-b906-156171c0abd0","block_type":"box","text":"diversified in accordance with the requirements with respect to spread and concentration set out in this","page_number":241,"box":{"x":140,"y":766,"width":783,"height":12}},{"id":"54adcbe8-c4a0-4870-bb46-56dba6a821eb","block_type":"box","text":"Appendix 6; and","page_number":241,"box":{"x":139,"y":780,"width":120,"height":11}},{"id":"2a6e2426-642b-414d-98b5-4e6cae1dc47d","block_type":"box","text":"","page_number":241,"box":{"x":110,"y":804,"width":6,"height":4}},{"id":"2701c93e-b269-4c4d-a5d7-98ea76eefdf7","block_type":"box","text":"where it is composed of assets in which a Sub-Fund cannot invest, it is diversified in a way which is","page_number":241,"box":{"x":139,"y":800,"width":784,"height":12}},{"id":"5c20c57e-6419-4946-9ad7-6461ad7bbed2","block_type":"box","text":"equivalent to the diversification achieved by the requirements with respect to spread and concentration set","page_number":241,"box":{"x":140,"y":814,"width":783,"height":11}},{"id":"82e34c47-5b85-427b-a0ec-325a0493e8c5","block_type":"box","text":"out in this Appendix 6.","page_number":241,"box":{"x":140,"y":828,"width":163,"height":11}},{"id":"a8a27c94-55b3-4512-a163-c55a662d917f","block_type":"box","text":"15.3 A financial index represents an adequate benchmark for the market to which it refers if:","page_number":241,"box":{"x":63,"y":847,"width":690,"height":11}},{"id":"25775736-e111-4fbc-bb22-7a74ee714412","block_type":"box","text":"","page_number":241,"box":{"x":110,"y":871,"width":6,"height":4}},{"id":"8badd679-598b-457b-9cce-fc225f69ff00","block_type":"box","text":"it measures the performance of a representative group of underlyings in a relevant and appropriate way;","page_number":241,"box":{"x":140,"y":868,"width":770,"height":11}},{"id":"3636bfa7-f80f-46b2-bb6f-ab1d32e947ee","block_type":"box","text":"","page_number":241,"box":{"x":110,"y":891,"width":6,"height":5}},{"id":"82bab549-7569-441c-b45c-0ab6419566ce","block_type":"box","text":"it is revised or rebalanced periodically to ensure that it continues to reflect the markets to which it refers,","page_number":241,"box":{"x":140,"y":888,"width":782,"height":11}},{"id":"5d6b8e36-bd78-4cac-837a-978b7bc476e8","block_type":"box","text":"following criteria which are publicly available; and","page_number":241,"box":{"x":139,"y":902,"width":365,"height":11}},{"id":"335c4188-0e0c-4102-bbf5-f66672f1711b","block_type":"box","text":"","page_number":241,"box":{"x":110,"y":925,"width":6,"height":5}},{"id":"ec81ee8f-10b3-44b1-ab0e-8a09ebaa7a14","block_type":"box","text":"the underlyings are sufficiently liquid, allowing users to replicate it if necessary.","page_number":241,"box":{"x":139,"y":922,"width":583,"height":12}},{"id":"b6a5b449-8fb5-4c20-a929-d7ac8cb7d4ab","block_type":"box","text":"Aviva Investors Funds ACS Prospectus","page_number":242,"box":{"x":62,"y":940,"width":204,"height":8}},{"id":"6374cad8-8d68-46ce-ab8c-34f13a7f1c44","block_type":"box","text":"(16 October 2026)","page_number":242,"box":{"x":271,"y":940,"width":93,"height":8}},{"id":"0641c84d-d79d-438f-a200-1d06dc6b6720","block_type":"box","text":"242","page_number":242,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"d260f80a-8589-4ec6-be39-cb5d8f015fd0","block_type":"box","text":"Aviva Investors: Confidential","page_number":242,"box":{"x":95,"y":960,"width":154,"height":7}},{"id":"99212e00-8e61-45a8-845e-a330a3d3d4a8","block_type":"box","text":"15.4 A financial index is published in an appropriate manner if:","page_number":242,"box":{"x":63,"y":46,"width":470,"height":11}},{"id":"36c57654-c2b2-4b18-8e62-8168283293e5","block_type":"box","text":"","page_number":242,"box":{"x":110,"y":69,"width":6,"height":5}},{"id":"78d281e9-a6b5-46c1-96e4-fbdb8d183bee","block_type":"box","text":"its publication process relies on sound procedures to collect prices, and calculate and subsequently publish","page_number":242,"box":{"x":140,"y":66,"width":782,"height":11}},{"id":"e9c48d4e-a2a4-475e-8899-d5ad3ce17807","block_type":"box","text":"the index value, including pricing procedures for components where a market price is not available; and","page_number":242,"box":{"x":139,"y":80,"width":766,"height":11}},{"id":"c5ead373-4629-4a6b-b98a-084ea18d09e7","block_type":"box","text":"","page_number":242,"box":{"x":110,"y":103,"width":6,"height":5}},{"id":"3ec29245-052a-4ee7-8d24-db330a80acb3","block_type":"box","text":"material information on matters such as index calculation, rebalancing methodologies, index changes or","page_number":242,"box":{"x":140,"y":100,"width":783,"height":12}},{"id":"286b6885-cde4-4cdf-8861-d0bcec5e8864","block_type":"box","text":"any operational difficulties in providing timely or accurate information is provided on a wide and timely","page_number":242,"box":{"x":140,"y":114,"width":783,"height":11}},{"id":"2a4c4bd0-ef19-41a2-b3f8-2bbf73f8b9a5","block_type":"box","text":"basis.","page_number":242,"box":{"x":140,"y":128,"width":42,"height":8}},{"id":"7ded8c8f-3960-40c0-bea8-f8cdf3f1b04d","block_type":"box","text":"15.5 Where the composition of underlyings of a transaction in a derivative does not satisfy the requirements for a","page_number":242,"box":{"x":63,"y":147,"width":860,"height":11}},{"id":"3c090764-7c1c-43b1-bf8b-9ef0ae5b35d6","block_type":"box","text":"financial index, the underlyings for that transaction shall, where they satisfy the requirements with respect to","page_number":242,"box":{"x":109,"y":161,"width":814,"height":11}},{"id":"7d957e6d-6510-480e-b133-b7c7eaa59e31","block_type":"box","text":"other underlyings pursuant to paragraph 12.2 of this Appendix 6, be regarded as a combination of those","page_number":242,"box":{"x":110,"y":174,"width":813,"height":12}},{"id":"de77a628-9520-4be8-9e84-07a6e3048b11","block_type":"box","text":"underlyings.","page_number":242,"box":{"x":110,"y":188,"width":88,"height":11}},{"id":"c01ce964-241b-4bd8-9f69-ad1b1fce98f6","block_type":"box","text":"15.6 Property which is subject to a stock lending transaction (as described in paragraph 19 of this Appendix 6) is","page_number":242,"box":{"x":63,"y":208,"width":860,"height":11}},{"id":"ea695de1-7300-402a-965a-2643141bb5a1","block_type":"box","text":"only available for cover if the ACS Manager has taken reasonable care to determine that it is obtainable (by","page_number":242,"box":{"x":110,"y":221,"width":813,"height":12}},{"id":"3c21728a-e05d-48ec-ab50-6e728c614439","block_type":"box","text":"return or reacquisition) in time to meet the obligation for which cover is required.","page_number":242,"box":{"x":110,"y":235,"width":590,"height":11}},{"id":"3eac5ee2-272f-42b1-ba18-1eea7ba25e9a","block_type":"box","text":"16.","page_number":242,"box":{"x":63,"y":261,"width":20,"height":8}},{"id":"24da8f04-b83d-4203-9db9-25039826d913","block_type":"box","text":"Spread Limits","page_number":242,"box":{"x":110,"y":260,"width":109,"height":12}},{"id":"41b7c232-a0b4-4b76-9698-d945a55100e1","block_type":"box","text":"16.1 This rule on spread does not apply to government and public securities.","page_number":242,"box":{"x":63,"y":280,"width":576,"height":11}},{"id":"2bdafa26-9d05-4978-9ee6-6c0ee3ef46f2","block_type":"box","text":"16.2 Not more than 20 % in value of the scheme property of a Sub-Fund is to consist of deposits with a single body.","page_number":242,"box":{"x":63,"y":300,"width":859,"height":11}},{"id":"c5773111-8567-46c7-bf52-0418871043bc","block_type":"box","text":"16.3 Not more than 10 % in value of the scheme property of a Sub-Fund is to consist of transferable securities or","page_number":242,"box":{"x":63,"y":319,"width":860,"height":11}},{"id":"e06f60cb-fbbc-4f21-bead-6964a6c24402","block_type":"box","text":"money-market instruments issued by any single body subject to COLL 5.6.23R (Schemes replicating an index).","page_number":242,"box":{"x":110,"y":333,"width":812,"height":11}},{"id":"15d532b0-dfa2-4cbd-bbf4-773ecb16d037","block_type":"box","text":"16.4 The limit of 10 % in paragraph 16.3 of this Appendix 6 is raised to 25% in value of the scheme property of a","page_number":242,"box":{"x":63,"y":353,"width":860,"height":11}},{"id":"55bf4cbf-4b18-4e51-8308-b98c2921a656","block_type":"box","text":"Sub-Fund in respect of covered bonds.","page_number":242,"box":{"x":110,"y":366,"width":287,"height":11}},{"id":"3c91eb21-2723-4f0e-a1d6-9246eb0e9992","block_type":"box","text":"16.5 In applying paragraph 16.3 of this Appendix 6, certificates representing certain securities are to be treated as","page_number":242,"box":{"x":63,"y":386,"width":860,"height":11}},{"id":"943ba7b7-b3e2-4589-99ca-76cb2046ba89","block_type":"box","text":"equivalent to the underlying security.","page_number":242,"box":{"x":110,"y":400,"width":270,"height":11}},{"id":"e2f5a78f-ad38-46f6-bc10-201a6920c214","block_type":"box","text":"16.6 Not more than 35 % in value of the scheme property of a Sub-Fund is to consist of the Units or shares of any","page_number":242,"box":{"x":63,"y":419,"width":860,"height":11}},{"id":"01ec420c-5390-4b96-8354-6bbdebec1959","block_type":"box","text":"one collective investment scheme.","page_number":242,"box":{"x":110,"y":433,"width":253,"height":8}},{"id":"74a2f71f-4bb2-4dc4-905c-414c64299311","block_type":"box","text":"16.7 The exposure to any one counterparty in an OTC derivative transaction must not exceed 10 % in value of the","page_number":242,"box":{"x":63,"y":452,"width":860,"height":11}},{"id":"0d2591b7-1e99-4907-82e2-c7ad076f459e","block_type":"box","text":"scheme property of a Sub-Fund.","page_number":242,"box":{"x":110,"y":466,"width":238,"height":11}},{"id":"935d1a8e-29cf-4541-8485-ada4f5790f49","block_type":"box","text":"16.8 For the purpose of calculating the limit in paragraph 16.7 of this Appendix 6, the exposure in respect of an OTC","page_number":242,"box":{"x":63,"y":485,"width":860,"height":12}},{"id":"91278c31-3b12-4d8a-9287-28257dbb322c","block_type":"box","text":"derivative may be reduced to the extent that collateral is held in respect of it if the collateral meets each of the","page_number":242,"box":{"x":110,"y":499,"width":813,"height":11}},{"id":"47edec7f-65cb-40cb-bebb-da700bb66499","block_type":"box","text":"following conditions:","page_number":242,"box":{"x":109,"y":513,"width":149,"height":11}},{"id":"e6c432d3-311d-466f-a440-6894214f405f","block_type":"box","text":"(a) it is marked-to-market on a daily basis and exceeds the value of the amount at risk;","page_number":242,"box":{"x":110,"y":538,"width":662,"height":12}},{"id":"37a5aa1a-d8a1-4c0c-9f68-67d25ab61641","block_type":"box","text":"(b) it is exposed only to negligible risks (e.g. government bonds of first credit rating or cash) and is liquid;","page_number":242,"box":{"x":110,"y":564,"width":796,"height":11}},{"id":"d1dd9b78-8836-441b-af3e-375be7677154","block_type":"box","text":"(c) it is held by a third party custodian not related to the provider or is legally secured from the consequences","page_number":242,"box":{"x":110,"y":583,"width":813,"height":12}},{"id":"6163142e-18db-4482-81b5-8d8a4798b505","block_type":"box","text":"of a failure of a related party; and","page_number":242,"box":{"x":157,"y":597,"width":245,"height":11}},{"id":"e4e8fe6b-0f71-4070-a188-fc6d90f5c8af","block_type":"box","text":"(d) can be fully enforced by a Sub-Fund at any time.","page_number":242,"box":{"x":110,"y":617,"width":406,"height":11}},{"id":"921296d9-2153-4747-8b35-7114f81d5366","block_type":"box","text":"16.9 For the purposes of calculating the limits in paragraph 16.7 of this Appendix 6. OTC derivative positions with","page_number":242,"box":{"x":63,"y":636,"width":860,"height":12}},{"id":"4b981de7-bda1-48af-9aa9-1148b954596b","block_type":"box","text":"the same counterparty may be netted provided that the netting procedures:","page_number":242,"box":{"x":109,"y":650,"width":555,"height":11}},{"id":"2a0cb9d8-f14c-4dfe-aae0-2173811c1dea","block_type":"box","text":"(a) comply with the conditions set out in Part Three, Title II, Chapter 6, Section 7 (Contractual netting","page_number":242,"box":{"x":110,"y":675,"width":812,"height":12}},{"id":"1f78e7b0-c97a-4846-bde1-983aa0913b22","block_type":"box","text":"(Contracts for novation and other netting arrangements)) of the UK Capital Requirement Regulation; and","page_number":242,"box":{"x":158,"y":689,"width":764,"height":11}},{"id":"9fc7bd61-2f9f-49b5-971f-d61d185561d9","block_type":"box","text":"(b) are based on legally binding agreements.","page_number":242,"box":{"x":110,"y":709,"width":352,"height":11}},{"id":"22ca1f52-c67a-423d-ad44-d592905ed1b2","block_type":"box","text":"16.10 In applying this paragraph (Spread: general), all derivatives transactions are deemed to be free of counterparty","page_number":242,"box":{"x":63,"y":728,"width":860,"height":12}},{"id":"9ee620a5-e518-4c88-86de-aa7830b4768f","block_type":"box","text":"risk if they are performed on an exchange where the clearing house meets each of the following conditions:","page_number":242,"box":{"x":110,"y":742,"width":793,"height":11}},{"id":"7a57adaf-5851-4846-bf8f-d418de497332","block_type":"box","text":"(a) it is backed by an appropriate performance guarantee; and","page_number":242,"box":{"x":110,"y":768,"width":481,"height":11}},{"id":"0f6484a8-75a7-4e92-b59d-a863e2f884cb","block_type":"box","text":"(b) it is characterised by a daily mark-to-market valuation of the derivative positions and at least daily","page_number":242,"box":{"x":110,"y":793,"width":813,"height":11}},{"id":"fc62eaba-b31f-4278-b4ac-984c778c1444","block_type":"box","text":"margining.","page_number":242,"box":{"x":158,"y":807,"width":75,"height":11}},{"id":"cbc00aaf-f9f9-4dba-80f6-8d02e6bbfcc0","block_type":"box","text":"17.","page_number":242,"box":{"x":63,"y":833,"width":20,"height":8}},{"id":"ba1e5de5-4fc0-4a1b-b038-ad5710878807","block_type":"box","text":"Spread: Government and Public Securities","page_number":242,"box":{"x":110,"y":832,"width":339,"height":12}},{"id":"bcce2328-430d-467a-8e37-174b0fbc30a8","block_type":"box","text":"17.1 The following section applies to government and public securities (\"","page_number":242,"box":{"x":63,"y":852,"width":574,"height":11}},{"id":"19f8da1a-4ebb-4594-ba54-17109020fe9c","block_type":"box","text":"such securities","page_number":242,"box":{"x":639,"y":852,"width":124,"height":9}},{"id":"18918b13-7a29-4736-b152-6c883f50041c","block_type":"box","text":"\") that are issued or","page_number":242,"box":{"x":765,"y":852,"width":158,"height":11}},{"id":"aac5023d-7264-4c2c-b8a0-b75bef5942f2","block_type":"box","text":"guaranteed by:","page_number":242,"box":{"x":110,"y":866,"width":109,"height":11}},{"id":"7bcf93e9-622e-480d-8484-1100aeeacdf8","block_type":"box","text":"(a) the UK or an EEA State; or","page_number":242,"box":{"x":110,"y":885,"width":248,"height":11}},{"id":"b5fea83f-8dbe-4006-9e85-dc33437a16f3","block_type":"box","text":"(b) a local authority of the UK or an EEA State; or","page_number":242,"box":{"x":110,"y":905,"width":389,"height":11}},{"id":"99e2365e-1813-456e-b5a4-b34f02ab18f7","block_type":"box","text":"(c) a non-EEA State; or","page_number":242,"box":{"x":110,"y":924,"width":196,"height":11}},{"id":"57e96c6e-2d39-4d35-bac1-cf38dd34c308","block_type":"box","text":"Aviva Investors Funds ACS Prospectus","page_number":243,"box":{"x":62,"y":940,"width":204,"height":8}},{"id":"4424a250-b236-4836-b7df-8927699b7c3a","block_type":"box","text":"(16 October 2026)","page_number":243,"box":{"x":271,"y":940,"width":93,"height":8}},{"id":"4eff7ba9-175f-4daf-9383-77295c5e4189","block_type":"box","text":"243","page_number":243,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"d13b83f5-8b39-40ab-a433-ef38d29daece","block_type":"box","text":"Aviva Investors: Confidential","page_number":243,"box":{"x":95,"y":960,"width":154,"height":7}},{"id":"45c0693a-e234-4b56-98c0-6b75bd7663e3","block_type":"box","text":"(d) a public international body to which the UK or one or more EEA States belong.","page_number":243,"box":{"x":110,"y":46,"width":629,"height":11}},{"id":"1184398a-6794-4e18-b3fc-44049cd816b7","block_type":"box","text":"17.2 Where no more than 35 % in value of the scheme property of a Sub-Fund is invested in such securities issued","page_number":243,"box":{"x":63,"y":65,"width":859,"height":11}},{"id":"5a55bd13-d870-4617-828c-b88d1fe8b489","block_type":"box","text":"by any one body, there is no limit on the amount which may be invested in such securities or in any one issue.","page_number":243,"box":{"x":110,"y":79,"width":812,"height":11}},{"id":"794d6dde-70bb-4fb7-b383-dc64801058b7","block_type":"box","text":"17.3 A Sub-Fund may invest more than 35 % in value of the scheme property in such securities issued by any one","page_number":243,"box":{"x":63,"y":99,"width":860,"height":11}},{"id":"311e6720-0be0-4956-a510-18ef87adefd1","block_type":"box","text":"body provided that:","page_number":243,"box":{"x":110,"y":112,"width":140,"height":11}},{"id":"21470c96-c0e3-4572-bd40-2e15159502cc","block_type":"box","text":"(a) the ACS Manager has before any such investment is made consulted with the Depositary and as a result","page_number":243,"box":{"x":110,"y":138,"width":813,"height":11}},{"id":"7a9167d3-2cae-409c-a2f6-0f0ab95e0674","block_type":"box","text":"considers that the issuer of such securities is one which is appropriate in accordance with the investment","page_number":243,"box":{"x":157,"y":152,"width":766,"height":11}},{"id":"15c164ed-a843-4f41-aafd-b2f19c433010","block_type":"box","text":"objective of a Sub-Fund;","page_number":243,"box":{"x":157,"y":165,"width":180,"height":11}},{"id":"0a661f75-dbaf-4ffe-a19b-61e7920ea250","block_type":"box","text":"(b) no more than 30 % in value of the scheme property consists of such securities of any one issue; and","page_number":243,"box":{"x":110,"y":185,"width":791,"height":11}},{"id":"0f5bcc76-3299-49c8-9b9f-81b66a38480a","block_type":"box","text":"(c) the scheme property of a Sub-Fund includes such securities issued by that or another issuer, of at least","page_number":243,"box":{"x":110,"y":204,"width":813,"height":11}},{"id":"aa265768-7834-4d3a-a491-f33c0f0709ba","block_type":"box","text":"six different issues.","page_number":243,"box":{"x":157,"y":218,"width":141,"height":9}},{"id":"8d59ba8a-5e28-4d06-a5f6-7159374aa2ca","block_type":"box","text":"17.4 The issuer or guarantors for the purpose of the above limits are as follows:","page_number":243,"box":{"x":63,"y":238,"width":597,"height":11}},{"id":"8ed3fc9d-cb2c-4027-8883-8c75b518dead","block_type":"box","text":"(a) the Government of the UK (including the Scottish Administration, the Executive Committee of the","page_number":243,"box":{"x":110,"y":263,"width":813,"height":11}},{"id":"e6006b36-4e2f-4c78-a5f4-e45a170f1809","block_type":"box","text":"Northern Ireland Assembly and the National Assembly of Wales);","page_number":243,"box":{"x":158,"y":277,"width":481,"height":11}},{"id":"14fdfe19-8b0c-43c1-9b7e-11e5baaaa13a","block_type":"box","text":"(b) the Government of any EEA State including the Governments of Austria, Belgium, Bulgaria, Cyprus,","page_number":243,"box":{"x":110,"y":302,"width":812,"height":11}},{"id":"df8397a2-c8b9-443d-9903-8433ba949c98","block_type":"box","text":"Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy,","page_number":243,"box":{"x":157,"y":316,"width":765,"height":11}},{"id":"fb610190-59c3-4ee9-9e1d-57bdb9b0e216","block_type":"box","text":"Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania,","page_number":243,"box":{"x":158,"y":330,"width":764,"height":11}},{"id":"6525446f-5bd8-4a66-abb9-36c100daf806","block_type":"box","text":"Slovakia, Slovenia, Spain and Sweden;","page_number":243,"box":{"x":157,"y":343,"width":290,"height":11}},{"id":"3b1ae1fb-7a12-4b70-ac3a-56a0cbafb86f","block_type":"box","text":"(c) the Governments of Australia, Canada, Japan, New Zealand, and the United States of America; and","page_number":243,"box":{"x":110,"y":363,"width":788,"height":11}},{"id":"daa9f238-e2bc-4a8f-9324-f853a98e9d4a","block_type":"box","text":"(d) The World Bank, The Inter-American Development Bank, The European Investment Bank and The","page_number":243,"box":{"x":110,"y":382,"width":813,"height":11}},{"id":"39c32c93-8568-4ba3-b93d-70f2b1143b61","block_type":"box","text":"European Bank for Reconstruction and Development","page_number":243,"box":{"x":158,"y":396,"width":391,"height":11}},{"id":"4913fd3e-026f-4d0e-a8d0-93e51d0507b4","block_type":"box","text":".","page_number":243,"box":{"x":551,"y":403,"width":3,"height":2}},{"id":"4ed658e1-8c40-48b7-849e-82f65cb128b8","block_type":"box","text":"18.","page_number":243,"box":{"x":63,"y":422,"width":20,"height":9}},{"id":"397bd36c-c552-4cdc-8355-491fa324b021","block_type":"box","text":"Borrowing","page_number":243,"box":{"x":110,"y":422,"width":82,"height":11}},{"id":"459e0ff6-9af9-408d-b8a2-b902b27be4af","block_type":"box","text":"18.1 The Depositary (on the instructions of the ACS Manager) may, in accordance with this section 18, borrow","page_number":243,"box":{"x":63,"y":441,"width":860,"height":11}},{"id":"ed94ebbe-4394-419f-b086-af6403d1ea2a","block_type":"box","text":"money for the use of the Sub-Funds on terms that the borrowing is to be repayable out of the scheme property.","page_number":243,"box":{"x":110,"y":455,"width":812,"height":11}},{"id":"00ee8cca-2e4b-4a45-99e9-ce3691e62646","block_type":"box","text":"This power to borrow is subject to the obligation to comply with any restriction in the ACS Deed. The Depositary","page_number":243,"box":{"x":109,"y":468,"width":814,"height":12}},{"id":"b9b37886-3109-4b0c-8ac2-cb36848ea733","block_type":"box","text":"may borrow only from an Eligible Institution or an Approved Bank (as defined by the FCA).","page_number":243,"box":{"x":110,"y":482,"width":667,"height":11}},{"id":"0873dcb2-01e8-4ed9-ad4d-25f1cffd4705","block_type":"box","text":"18.2 The ACS Manager must ensure that a Sub-Fund's borrowing does not, on any Business Day, exceed 10 % of","page_number":243,"box":{"x":63,"y":502,"width":860,"height":11}},{"id":"2eff91da-3ef3-41f5-aade-969d7e9a34a9","block_type":"box","text":"the value of the scheme property of the Sub-Fund.","page_number":243,"box":{"x":109,"y":515,"width":373,"height":12}},{"id":"a5a2b843-cc62-4a77-abcf-8ca17a2d2b1b","block_type":"box","text":"18.3 None of the money in the scheme property of a Sub-Fund may be lent and, for the purposes of this prohibition,","page_number":243,"box":{"x":63,"y":535,"width":859,"height":11}},{"id":"68f019d4-f98e-4d77-a080-97db3fe2abf2","block_type":"box","text":"money is lent by the Sub-Fund if it is paid to a person (\"the payee\") on the basis that it should be repaid, whether","page_number":243,"box":{"x":110,"y":549,"width":813,"height":11}},{"id":"0ed613cd-d4c8-4f28-97e8-f74aa907a5e2","block_type":"box","text":"or not by the payee. Acquiring a debenture is not lending; nor is the placing of money on deposit or in a current","page_number":243,"box":{"x":110,"y":562,"width":813,"height":12}},{"id":"b1718d05-dfef-4102-87f4-f2e8f981180f","block_type":"box","text":"account.","page_number":243,"box":{"x":110,"y":577,"width":61,"height":8}},{"id":"6f881db2-482c-4ec3-bc83-46a5016f2499","block_type":"box","text":"18.4 The scheme property of the Sub-Funds other than money must not be lent by way of deposit or otherwise","page_number":243,"box":{"x":63,"y":595,"width":860,"height":12}},{"id":"d092f722-298d-4d61-a222-93b12c54b864","block_type":"box","text":"except for the purposes of stock lending as described below.","page_number":243,"box":{"x":110,"y":609,"width":447,"height":11}},{"id":"c44c6355-e0fd-4a07-8d7e-2c1cbc79d3f8","block_type":"box","text":"18.5 Transactions permitted for the purposes of stock lending are not lending for these purposes.","page_number":243,"box":{"x":63,"y":629,"width":727,"height":11}},{"id":"4c3f5590-4814-482a-a00d-c884c4a1c18d","block_type":"box","text":"18.6 Nothing in these restrictions prevent the Depositary at the request of the ACS Manager, from lending,","page_number":243,"box":{"x":63,"y":648,"width":859,"height":12}},{"id":"aefc6b84-c7a2-409b-9b2b-ca1ddc624ab2","block_type":"box","text":"depositing, pledging or charging property for margin requirements where transactions in derivatives or forward","page_number":243,"box":{"x":110,"y":662,"width":812,"height":11}},{"id":"6f5b36a9-76bc-4840-8e6b-25f3e286b39a","block_type":"box","text":"transactions are used for the account of the Sub-Fund in accordance with any other of the rules in COLL 5.","page_number":243,"box":{"x":109,"y":676,"width":791,"height":11}},{"id":"9b62665d-b3b2-4f61-963e-2d0fadab3624","block_type":"box","text":"18.7 A Sub-Fund may not grant credit facilities nor act as guarantor on behalf of third parties, provided that, for the","page_number":243,"box":{"x":63,"y":695,"width":860,"height":12}},{"id":"58a060fe-865d-473f-bd1c-6b44b0408c63","block_type":"box","text":"purpose of this restriction: (i) the acquisition of transferable securities, approved money-market instruments or","page_number":243,"box":{"x":110,"y":709,"width":813,"height":11}},{"id":"1f988601-3e46-4420-8f36-83ddd61f61a9","block_type":"box","text":"other financial investments above, in fully or partly paid form; and (ii) the permitted lending of portfolio securities","page_number":243,"box":{"x":110,"y":723,"width":813,"height":11}},{"id":"b71e3e7f-ff4f-41a1-a332-cfec0bf9a5fd","block_type":"box","text":"shall be deemed not to constitute the making of a loan.","page_number":243,"box":{"x":110,"y":736,"width":405,"height":12}},{"id":"72b6f670-c7e2-4ef8-85ae-0d6143a9b5bb","block_type":"box","text":"19.","page_number":243,"box":{"x":63,"y":762,"width":20,"height":9}},{"id":"942c513c-acc0-45ce-acf2-79627c5248fc","block_type":"box","text":"Stock lending","page_number":243,"box":{"x":110,"y":762,"width":108,"height":11}},{"id":"00362237-aa2e-47e8-bb0c-892f3aacfb64","block_type":"box","text":"19.1 Stock lending transactions or repo contracts may be entered into when it reasonably appears to the ACS","page_number":243,"box":{"x":63,"y":781,"width":860,"height":12}},{"id":"75b716a9-50e8-49db-bd17-a71a38f9ee87","block_type":"box","text":"Manager to be appropriate to do so with a view to generating additional income for the Sub-Funds with an","page_number":243,"box":{"x":110,"y":795,"width":812,"height":11}},{"id":"6a7f10ab-64ad-4ce6-96d0-41728ca6d6c5","block_type":"box","text":"acceptable degree of risk.","page_number":243,"box":{"x":110,"y":809,"width":190,"height":11}},{"id":"76ca2612-422b-4e87-bf27-1cdab0c14417","block_type":"box","text":"19.2 The Depositary, at the request of the ACS Manager, may enter into a stock lending arrangement or repo","page_number":243,"box":{"x":63,"y":828,"width":860,"height":12}},{"id":"5f64d347-f06d-4b69-8cab-846531740c3b","block_type":"box","text":"contract of the kind described in section 263B of the Taxation of Chargeable Gains Act 1992 (without extension","page_number":243,"box":{"x":110,"y":842,"width":812,"height":11}},{"id":"a551f463-17a0-497b-91d6-4a9e5cc573e9","block_type":"box","text":"by section 263C), but only if: (i) all the terms of the agreement under which securities are to be reacquired by","page_number":243,"box":{"x":110,"y":856,"width":813,"height":11}},{"id":"5b98609e-f0a0-4517-8595-5af6f19152c5","block_type":"box","text":"the Depositary for the account of the Sub-Funds, are in a form which is acceptable to the Depositary and are","page_number":243,"box":{"x":109,"y":869,"width":814,"height":11}},{"id":"5710740b-7f7c-41a0-b0ab-52744fe9f296","block_type":"box","text":"in accordance with good market practice; (ii) the counterparty meets the criteria set out in COLL 5.4.4; and (iii)","page_number":243,"box":{"x":110,"y":883,"width":812,"height":11}},{"id":"777e57b5-3062-4677-a9c3-febacb0f0ce4","block_type":"box","text":"collateral is obtained to secure the obligation of the counterparty. Collateral must be acceptable to the","page_number":243,"box":{"x":110,"y":896,"width":813,"height":12}},{"id":"c65df62f-db08-4fa9-983a-981f1e0973cd","block_type":"box","text":"Depositary, adequate and sufficiently immediate.","page_number":243,"box":{"x":110,"y":910,"width":360,"height":11}},{"id":"cd20bc37-9ccc-4629-8143-38bae12d6720","block_type":"box","text":"Aviva Investors Funds ACS Prospectus","page_number":244,"box":{"x":62,"y":940,"width":204,"height":8}},{"id":"7ed26a4d-41d8-4fa7-8a90-2bcd89f74bfd","block_type":"box","text":"(16 October 2026)","page_number":244,"box":{"x":271,"y":940,"width":93,"height":8}},{"id":"33bfe8fd-4cb6-4a2e-9987-af2809b9df3f","block_type":"box","text":"244","page_number":244,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"bb00f3d1-178d-49c4-a131-9a1511147ef1","block_type":"box","text":"Aviva Investors: Confidential","page_number":244,"box":{"x":95,"y":960,"width":154,"height":7}},{"id":"a96356e5-c9dd-41d4-8f7c-8625166b1598","block_type":"box","text":"19.3 The Depositary must ensure that the value of the collateral at all times is at least equal to the value of the","page_number":244,"box":{"x":63,"y":46,"width":860,"height":11}},{"id":"aac67fac-e00c-495b-a282-64e7e941e4a1","block_type":"box","text":"securities transferred by the Depositary. This duty may be regarded as satisfied in respect of collateral, the","page_number":244,"box":{"x":110,"y":59,"width":813,"height":12}},{"id":"d1c8ea16-eb33-4427-bbdd-579794f1aa51","block_type":"box","text":"validity of which is about to expire or has expired, where the Depositary takes reasonable care to determine","page_number":244,"box":{"x":109,"y":73,"width":814,"height":11}},{"id":"86236f53-7a93-4def-a4f0-89c9160bbc4a","block_type":"box","text":"that sufficient collateral will again be transferred at the latest by the close of business on the day of expiry.","page_number":244,"box":{"x":109,"y":87,"width":784,"height":11}},{"id":"6bddda8d-95aa-4896-8259-1ca7bd0170e7","block_type":"box","text":"19.4 Where a Sub-Fund enters into arrangements through which collateral is reinvested, this should be taken into","page_number":244,"box":{"x":63,"y":106,"width":860,"height":12}},{"id":"6ba87600-3ed9-4169-8762-0052eb3af19d","block_type":"box","text":"account for the purposes of measuring a Sub-Fund's global exposure under paragraph 10.8 of this Appendix","page_number":244,"box":{"x":110,"y":120,"width":813,"height":11}},{"id":"ddaf30b2-1420-487f-81ec-154fa5563949","block_type":"box","text":"6.","page_number":244,"box":{"x":110,"y":134,"width":11,"height":9}},{"id":"4b39d2c1-0b43-48ee-96a8-ac13f205b091","block_type":"box","text":"19.5 Collateral is adequate for the purposes of stock lending only if it is:","page_number":244,"box":{"x":63,"y":153,"width":537,"height":11}},{"id":"426e6d0e-1f07-4a78-a351-aa697fc03c96","block_type":"box","text":"(a) transferred to the Depositary or its agent;","page_number":244,"box":{"x":110,"y":179,"width":350,"height":11}},{"id":"c24dc32d-f631-4430-86d3-2df12b878613","block_type":"box","text":"(b) at least equal in value, at the time of the transfer to the Depositary, to the value of the securities","page_number":244,"box":{"x":110,"y":198,"width":813,"height":12}},{"id":"902afb18-b432-465d-8032-0a7b367b679a","block_type":"box","text":"transferred by the Depositary; and","page_number":244,"box":{"x":157,"y":212,"width":252,"height":11}},{"id":"f9457903-ef7c-418c-b6f8-4ad3fc220097","block_type":"box","text":"(c) in the form of one or more of:","page_number":244,"box":{"x":110,"y":232,"width":262,"height":11}},{"id":"def49e23-e017-49f1-9354-fa02e03fa2e8","block_type":"box","text":"(i) cash; or","page_number":244,"box":{"x":158,"y":251,"width":106,"height":11}},{"id":"7ac7f807-cb06-4d19-9c20-d26f0311101d","block_type":"box","text":"(ii) a certificate of deposit; or","page_number":244,"box":{"x":158,"y":271,"width":234,"height":11}},{"id":"e2a5ecbf-008f-4a99-8e3b-7830e809d01a","block_type":"box","text":"(iii) a letter of credit; or","page_number":244,"box":{"x":158,"y":290,"width":186,"height":12}},{"id":"a190f608-e850-4873-b6c1-2cf4203eaac9","block_type":"box","text":"(iv) a readily realisable security; or","page_number":244,"box":{"x":158,"y":310,"width":273,"height":11}},{"id":"3d18c26d-c10c-41d9-81f1-b2999dd2d77f","block_type":"box","text":"(v) commercial paper with no embedded derivative content; or","page_number":244,"box":{"x":158,"y":330,"width":482,"height":11}},{"id":"d836fb46-3b16-4e58-a2e6-ba2ee6f75d13","block_type":"box","text":"(vi) a qualifying money-market fund.","page_number":244,"box":{"x":158,"y":349,"width":284,"height":11}},{"id":"6f541227-8ec2-4184-9b79-de3e9d9383ae","block_type":"box","text":"19.6 Where the collateral is invested in Units or shares of a qualifying money-market fund managed or operated by","page_number":244,"box":{"x":63,"y":369,"width":860,"height":11}},{"id":"e743c3bc-c022-42e7-b28b-38de9075f1b8","block_type":"box","text":"the ACS Manager or an associate of the ACS Manager, the conditions of paragraph 5.8 of this Appendix 6","page_number":244,"box":{"x":109,"y":382,"width":814,"height":12}},{"id":"4acca784-a737-48a5-89fa-14fdcd8ae7b5","block_type":"box","text":"must be complied with.","page_number":244,"box":{"x":110,"y":396,"width":168,"height":11}},{"id":"32fa009c-7ce0-465d-9773-2bf857922bea","block_type":"box","text":"19.7 Any agreement for transfer at a future date of securities or of collateral (or of the equivalent of either) may be","page_number":244,"box":{"x":63,"y":416,"width":860,"height":11}},{"id":"fbed938f-ddb8-4359-a70e-5ae43d7f6706","block_type":"box","text":"regarded, for the purposes of valuation, as an unconditional agreement for the sale or transfer of property,","page_number":244,"box":{"x":110,"y":429,"width":812,"height":11}},{"id":"ff617798-80a1-4a32-ad6c-c20d8169b5ad","block_type":"box","text":"whether or not the property is part of the property of the Sub-Funds.","page_number":244,"box":{"x":109,"y":443,"width":502,"height":11}},{"id":"fb2d5991-63cc-4a11-bac5-61808c34c8d6","block_type":"box","text":"19.8 Each day, the collateral held in respect of each repo contract or stock lending transaction is marked-to-market","page_number":244,"box":{"x":63,"y":463,"width":860,"height":11}},{"id":"0266ef37-fa77-42c5-aab5-aeaa6d99b678","block_type":"box","text":"and revalued. Where due to market movements the value of collateral is less than the value of the securities","page_number":244,"box":{"x":110,"y":476,"width":813,"height":9}},{"id":"af394bc7-78c2-4dd0-85d5-77b8943281f9","block_type":"box","text":"subject to the repo contract or stock lending transaction, the Depositary is entitled to call for additional collateral","page_number":244,"box":{"x":110,"y":490,"width":812,"height":11}},{"id":"1a883cf0-5142-4820-aecc-78b18604352f","block_type":"box","text":"from the counterparty such that the value of the collateral and margin requirements is maintained.","page_number":244,"box":{"x":109,"y":504,"width":722,"height":11}},{"id":"ab473509-3668-47da-9199-f085958bbe9f","block_type":"box","text":"19.9 In the event there is a decline in the value of the collateral which exceeds the value of the margin held by the","page_number":244,"box":{"x":63,"y":523,"width":860,"height":11}},{"id":"dd1ad0bb-1b61-4129-8e1f-d8595ae9c3ec","block_type":"box","text":"Depositary, a counterparty credit risk will arise pending delivery of the additional collateral. In the normal course","page_number":244,"box":{"x":110,"y":537,"width":813,"height":11}},{"id":"9b593cb2-3f61-436e-b727-8385bd60fff5","block_type":"box","text":"of events, additional collateral is delivered the following Business Day.","page_number":244,"box":{"x":110,"y":551,"width":518,"height":11}},{"id":"a3599eae-fb3c-4c31-a998-a6fe23cfb0c9","block_type":"box","text":"19.10 There is no limit on the value of the property which may be the subject of repo contracts or stock lending","page_number":244,"box":{"x":63,"y":570,"width":860,"height":11}},{"id":"e0fe2953-b270-422c-aac2-7d1fe2b08cfa","block_type":"box","text":"transactions","page_number":244,"box":{"x":109,"y":584,"width":90,"height":9}},{"id":"e9f9e336-4ff1-4dc6-bd60-f721176d2d50","block_type":"box","text":".","page_number":244,"box":{"x":201,"y":591,"width":3,"height":1}},{"id":"394366bf-1d2f-49cb-987a-ee556a829f3b","block_type":"box","text":"Collateral transferred to the Depositary is part of a Sub-Fund's property for the purpose of the","page_number":244,"box":{"x":211,"y":584,"width":712,"height":11}},{"id":"e31d53f2-a4b2-4806-bca2-5f79338ea891","block_type":"box","text":"COLL Sourcebook except in the following respects:","page_number":244,"box":{"x":110,"y":597,"width":378,"height":12}},{"id":"ef94f9f3-f6a8-4b0a-aea6-cf9753ca75b4","block_type":"box","text":"(a) it does not fall to be included in any valuation for the purposes of COLL 6.3 or this Appendix 6 because","page_number":244,"box":{"x":110,"y":623,"width":813,"height":11}},{"id":"cefa8b87-79fb-48b6-b445-bdf6411dc57a","block_type":"box","text":"it is offset by an obligation to transfer at a future date (as set out above); and","page_number":244,"box":{"x":158,"y":637,"width":565,"height":11}},{"id":"17f85962-2949-4a65-9cb6-e62bf454acf8","block_type":"box","text":"(b) it does not comprise the Sub-Fund's property for the purpose of any investment and borrowing powers","page_number":244,"box":{"x":110,"y":662,"width":812,"height":11}},{"id":"ecb457ff-7afd-4da1-a57e-fee0c1bd754f","block_type":"box","text":"set out in this Appendix 6 except for the purpose of this section 19.","page_number":244,"box":{"x":157,"y":676,"width":493,"height":11}},{"id":"af9b5229-5996-457c-8787-7efe6dc04f95","block_type":"box","text":"20.","page_number":244,"box":{"x":62,"y":702,"width":21,"height":8}},{"id":"ba8ca358-dc7a-4910-b86c-b18447158406","block_type":"box","text":"General power to accept or underwrite placings","page_number":244,"box":{"x":110,"y":701,"width":378,"height":12}},{"id":"2b7d9d02-80c2-4387-9342-44514fa1ed76","block_type":"box","text":"20.1 Any power in the COLL Sourcebook to invest in transferable securities may be used for the purpose of entering","page_number":244,"box":{"x":62,"y":721,"width":861,"height":11}},{"id":"ad8d79ce-fa3f-4e71-9ea5-9a032d9621f8","block_type":"box","text":"into any agreement or understanding: which is an underwriting or sub-underwriting agreement, or which","page_number":244,"box":{"x":110,"y":735,"width":813,"height":11}},{"id":"e124693d-d5eb-46d9-a1d9-0f100a6ab85b","block_type":"box","text":"contemplates that securities will or may be issued or subscribed for or acquired for the account of a Sub-Fund.","page_number":244,"box":{"x":110,"y":748,"width":812,"height":11}},{"id":"17ec8ed3-3104-45bf-92e2-3c2ee767c54f","block_type":"box","text":"20.2 This ability does not apply to an option, or a purchase of a transferable security which confers a right to","page_number":244,"box":{"x":62,"y":768,"width":861,"height":11}},{"id":"04074a7a-3ea9-4f86-9610-d2f982fb7e74","block_type":"box","text":"subscribe for or acquire a transferable security, or to convert one transferable security into another.","page_number":244,"box":{"x":110,"y":781,"width":732,"height":12}},{"id":"14e5d8b7-9299-4ed5-bb5c-a5ef0332cdb7","block_type":"box","text":"20.3 The exposure of the Sub-Fund to agreements and understandings as set out above, on any Business Day must","page_number":244,"box":{"x":62,"y":801,"width":861,"height":11}},{"id":"9d486188-6728-47fa-b3d7-7b85f1e42159","block_type":"box","text":"be covered and must be such that, if all possible obligations arising under them had immediately to be met in","page_number":244,"box":{"x":110,"y":815,"width":812,"height":11}},{"id":"a7008a2f-9fd8-4d61-a65a-9a200419a660","block_type":"box","text":"full, there would be no breach of any of the investment limits set out elsewhere in this Appendix 6.","page_number":244,"box":{"x":109,"y":828,"width":723,"height":11}},{"id":"b39e7d15-3f71-449e-9dc2-3e80ac2e819d","block_type":"box","text":"21.","page_number":244,"box":{"x":62,"y":854,"width":21,"height":9}},{"id":"240dcbfc-6f76-48f8-a1b9-ec5d02adc6b8","block_type":"box","text":"Guarantees and indemnities","page_number":244,"box":{"x":110,"y":854,"width":223,"height":9}},{"id":"fe7a44ff-6762-4f59-b029-d2ac3f550a4c","block_type":"box","text":"21.1 The Depositary for the account of the Sub-Fund must not provide any guarantee or indemnity in respect of the","page_number":244,"box":{"x":62,"y":873,"width":861,"height":12}},{"id":"61008077-b8c4-43c6-a0c7-961cd4400fad","block_type":"box","text":"obligation of any person.","page_number":244,"box":{"x":110,"y":887,"width":180,"height":11}},{"id":"263d240a-89e1-4899-a055-fe88d224b45f","block_type":"box","text":"Aviva Investors Funds ACS Prospectus","page_number":245,"box":{"x":62,"y":940,"width":204,"height":8}},{"id":"28b42872-00f6-45bb-bca6-d4ed526bd8af","block_type":"box","text":"(16 October 2026)","page_number":245,"box":{"x":271,"y":940,"width":93,"height":8}},{"id":"af938d60-6967-4af5-bed8-0adec576516c","block_type":"box","text":"245","page_number":245,"box":{"x":780,"y":940,"width":19,"height":6}},{"id":"fe447310-0164-4b54-afef-3e5b3f56b21b","block_type":"box","text":"Aviva Investors: Confidential","page_number":245,"box":{"x":95,"y":960,"width":154,"height":7}},{"id":"04c8c2de-f098-47ae-9af2-91cf54da6ba4","block_type":"box","text":"21.2 These requirements do not apply to any indemnity or guarantee given for margin requirements where the","page_number":245,"box":{"x":62,"y":46,"width":861,"height":11}},{"id":"8cb4d5c6-6fc4-400d-8ac0-27b5870ea070","block_type":"box","text":"derivatives or forward transactions are being used in accordance with the requirements set out in this Appendix","page_number":245,"box":{"x":110,"y":59,"width":813,"height":12}},{"id":"b9905e0f-d7f2-455d-ad31-419f902a80f4","block_type":"box","text":"6.","page_number":245,"box":{"x":110,"y":73,"width":11,"height":9}},{"id":"2a8ee365-0d54-4164-99eb-cd4469db1fd7","block_type":"box","text":"22.","page_number":245,"box":{"x":62,"y":99,"width":21,"height":8}},{"id":"6e789b6a-6986-4153-a467-98f6fe88c2e5","block_type":"box","text":"Over-the-Counter (\"OTC\") transactions in derivatives","page_number":245,"box":{"x":110,"y":99,"width":421,"height":11}},{"id":"fce835f0-12c3-4f7b-a4ff-db9c8acf4e32","block_type":"box","text":"22.1 The ACS Manager's delegates will continuously assess the credit or counterparty risk as well as the potential","page_number":245,"box":{"x":62,"y":118,"width":860,"height":11}},{"id":"300e198b-5c57-4c70-a815-f0f2be4c7aed","block_type":"box","text":"risk, which is for trading activities, the risk resulting from adverse movements in the level of volatility of market","page_number":245,"box":{"x":110,"y":132,"width":813,"height":11}},{"id":"801be979-0154-4151-b4ac-597f9e659c65","block_type":"box","text":"prices and will assess the hedging effectiveness on an ongoing basis. They will define specific internal limits","page_number":245,"box":{"x":110,"y":146,"width":813,"height":11}},{"id":"880e182c-e32b-490c-be30-78e54b2a4f33","block_type":"box","text":"applicable to these kinds of operations and monitor the counterparties accepted for these transactions.","page_number":245,"box":{"x":110,"y":159,"width":759,"height":11}},{"id":"e4887bb4-9ee6-4a3d-9cc6-70d53eb300b1","block_type":"box","text":"22.2 Any transaction in an OTC derivative must be:","page_number":245,"box":{"x":62,"y":179,"width":388,"height":11}},{"id":"39b57656-e341-416e-9d98-f320f5a03f65","block_type":"box","text":"(a) with an approved counterparty; a counterparty to a transaction in derivatives is approved only if the","page_number":245,"box":{"x":110,"y":204,"width":813,"height":11}},{"id":"3a810410-2de9-488a-9330-203d5fd14068","block_type":"box","text":"counterparty is an Eligible Institution or an Approved Bank (as defined by the FCA); or a person whose","page_number":245,"box":{"x":157,"y":218,"width":765,"height":11}},{"id":"2d4cafef-5ddb-44f3-a41f-a93f9b404733","block_type":"box","text":"permission (including any requirements or limitations), as published in the FCA Register or whose home","page_number":245,"box":{"x":158,"y":231,"width":765,"height":12}},{"id":"fe7ced54-0ec8-4801-9b30-9fdd5d80fa24","block_type":"box","text":"state authorisation, permits it to enter into the transaction","page_number":245,"box":{"x":157,"y":245,"width":445,"height":11}},{"id":"87c0cab2-fda7-4dfe-8d14-3dfd8ae4c00b","block_type":"box","text":"as principal off-exchange; a CCP that is","page_number":245,"box":{"x":611,"y":245,"width":312,"height":11}},{"id":"d9f5d236-33db-45bc-9268-b2ad58984b4e","block_type":"box","text":"authorised in that capacity for the purposes of EMIR; a CCP that is recognised in that capacity in","page_number":245,"box":{"x":157,"y":259,"width":765,"height":11}},{"id":"c8038138-f739-4128-9096-b13547baa62e","block_type":"box","text":"accordance with the process set out in article 25 of EMIR; or to the extent not already covered, a CCP","page_number":245,"box":{"x":157,"y":272,"width":766,"height":12}},{"id":"c454e807-52f0-4498-bd2e-e9a9f23d4bdc","block_type":"box","text":"supervised in a jurisdiction that has implemented the relevant G20 reforms on OTC derivatives to at least","page_number":245,"box":{"x":157,"y":286,"width":766,"height":11}},{"id":"003a2a04-b121-4ee9-995d-96937f4c3db2","block_type":"box","text":"the same extent as the United Kingdom and is identified as having done so by the Financial Stability","page_number":245,"box":{"x":157,"y":300,"width":766,"height":11}},{"id":"ff4d781b-861b-4151-a2d5-3e915fba8580","block_type":"box","text":"Board in its summary report on progress in implementation of G20 regulatory reforms dated 25 June","page_number":245,"box":{"x":158,"y":313,"width":765,"height":12}},{"id":"4e361c1e-ce2b-443e-a83a-565821d0363b","block_type":"box","text":"2019;","page_number":245,"box":{"x":157,"y":328,"width":40,"height":10}},{"id":"024085aa-3179-43c1-9100-ad384e458a83","block_type":"box","text":"(b) on approved terms; the terms of the transaction in derivatives are approved only if, the ACS Manager","page_number":245,"box":{"x":110,"y":347,"width":813,"height":11}},{"id":"95eef76e-036d-44f3-86cf-d32e963396d8","block_type":"box","text":"carries out at least daily a reliable and verifiable valuation in respect of that transaction corresponding to","page_number":245,"box":{"x":157,"y":360,"width":766,"height":12}},{"id":"48f769fd-4b1d-4391-beea-9b18cebe94ee","block_type":"box","text":"its fair value and which does not rely on market quotations by the counterparty, and the ACS Manager","page_number":245,"box":{"x":158,"y":374,"width":765,"height":11}},{"id":"f2b44c3b-c27f-4a49-8c67-daa4781aee99","block_type":"box","text":"can enter into one or more further transactions to sell, liquidate or close out that transaction at any time,","page_number":245,"box":{"x":157,"y":388,"width":765,"height":11}},{"id":"05235c45-5a07-49b8-a322-f09a9048aeed","block_type":"box","text":"at its fair value;","page_number":245,"box":{"x":157,"y":401,"width":111,"height":11}},{"id":"24cc60d4-a941-42fc-a2d3-7470d51e5974","block_type":"box","text":"capable of reliable valuation; a transaction in derivatives is capable of reliable valuation only if the ACS Manager","page_number":245,"box":{"x":62,"y":421,"width":861,"height":11}},{"id":"99a589a5-2408-4ddd-ada6-bda0c77cc0c8","block_type":"box","text":"having taken reasonable care determines that, throughout the life of the derivative (if the transaction is entered into),","page_number":245,"box":{"x":62,"y":435,"width":860,"height":11}},{"id":"cde849a0-6652-4518-8500-2920cec0e663","block_type":"box","text":"it will be able to value the investment concerned with reasonable accuracy: on the basis of an up-to-date market value","page_number":245,"box":{"x":62,"y":448,"width":861,"height":12}},{"id":"2e674512-7829-45ae-8d07-6da02058e5eb","block_type":"box","text":"which the ACS Manager and the Depositary have agreed is reliable, or, if the value referred to above is not available,","page_number":245,"box":{"x":62,"y":462,"width":860,"height":11}},{"id":"61ba69e2-1896-45bf-905d-bd3e78bd4164","block_type":"box","text":"on the basis of a pricing model which the ACS Manager and Depositary have agreed uses an adequate recognised","page_number":245,"box":{"x":62,"y":475,"width":860,"height":12}},{"id":"69b34084-f831-4f40-bf5d-8340e24f20ec","block_type":"box","text":"methodology; and","page_number":245,"box":{"x":62,"y":489,"width":132,"height":11}},{"id":"09aac5c7-c9ad-46fa-8cac-d0adab45d07e","block_type":"box","text":"(c) subject to verifiable valuation; a transaction in derivatives is subject to verifiable valuation only if","page_number":245,"box":{"x":110,"y":509,"width":813,"height":11}},{"id":"b3cb2091-5c76-4123-938f-768198d9561c","block_type":"box","text":"throughout the life of the derivative verification of valuation is carried out by an independent third party","page_number":245,"box":{"x":157,"y":522,"width":766,"height":12}},{"id":"ef5b8b1f-7728-4493-812c-4428c98bb492","block_type":"box","text":"distinct from the counterparty on a regular basis and in such a way that the ACS Manager is able to","page_number":245,"box":{"x":157,"y":536,"width":766,"height":11}},{"id":"be87c77c-d729-4280-bcfc-aa071c32520c","block_type":"box","text":"check or by an independent division of the ACS Manager separate from the division managing the","page_number":245,"box":{"x":157,"y":550,"width":766,"height":11}},{"id":"c219b3d3-f018-4998-a65e-e0c46ad0f8ee","block_type":"box","text":"particular Sub-Fund's assets.","page_number":245,"box":{"x":158,"y":563,"width":214,"height":12}},{"id":"a1c07af9-49e4-41dc-9e7b-86e7b8942ab7","block_type":"box","text":"23.","page_number":245,"box":{"x":62,"y":589,"width":21,"height":9}},{"id":"3e88b387-37e5-4af1-9bd5-d83a74b5d800","block_type":"box","text":"Restrictions on investment and holding of Aviva Plc shares and other Aviva securities","page_number":245,"box":{"x":110,"y":589,"width":686,"height":11}},{"id":"690cf79f-5334-4e28-afc6-1f0c8af2a838","block_type":"box","text":"The ACS Manager has determined with effect from 17 February 2020 to restrict Sub-Funds that are managed","page_number":245,"box":{"x":109,"y":622,"width":813,"height":11}},{"id":"ef96c9ec-debd-495b-ae42-6d035d2e8ff2","block_type":"box","text":"by investment managers within the Aviva group, such as Aviva Investors Global Services Limited, from being","page_number":245,"box":{"x":110,"y":636,"width":812,"height":11}},{"id":"b9b725b3-6971-4c67-82d3-bf39a305ecc0","block_type":"box","text":"permitted to directly or indirectly invest in or hold Aviva Plc shares and other securities issued by Aviva Plc","page_number":245,"box":{"x":110,"y":650,"width":813,"height":11}},{"id":"72541516-68bf-499d-8bf5-249114765ece","block_type":"box","text":"such as bonds, commercial paper and derivatives of these securities (collectively ‘Aviva Securities’). The","page_number":245,"box":{"x":110,"y":663,"width":813,"height":11}},{"id":"c34eef22-0417-4974-a3bb-122a676b8804","block_type":"box","text":"prohibition on indirect exposure to Aviva Securities shall not include:","page_number":245,"box":{"x":110,"y":677,"width":504,"height":11}},{"id":"7c49144f-1f2c-4895-8af6-c221dfbc6476","block_type":"box","text":"","page_number":245,"box":{"x":110,"y":708,"width":6,"height":5}},{"id":"08e68879-5124-461d-9533-adc3d7076daf","block_type":"box","text":"indirect exposure to a financial index, for example through an index future, where Aviva is a constituent of","page_number":245,"box":{"x":146,"y":705,"width":777,"height":11}},{"id":"b23fb6ad-e222-4527-b342-fe346e357b27","block_type":"box","text":"the financial index and,","page_number":245,"box":{"x":145,"y":719,"width":170,"height":10}},{"id":"9c597d86-8b02-4c20-a35c-f0efd67da65e","block_type":"box","text":"","page_number":245,"box":{"x":110,"y":742,"width":6,"height":5}},{"id":"0a42c3e7-c19b-48b6-85ae-b21d42838098","block_type":"box","text":"investment in other funds managed by third parties, where the underlying funds may have exposure to","page_number":245,"box":{"x":146,"y":739,"width":777,"height":11}},{"id":"01028d77-5a1f-4bd2-81a6-3759e723fd37","block_type":"box","text":"Aviva Securities.","page_number":245,"box":{"x":145,"y":753,"width":122,"height":9}},{"id":"fc2f9f94-30b2-49ec-8e07-34586af54273","block_type":"box","text":"Sub-Funds managed by investment managers outside of the Aviva Group, (with the exception of AI UK Listed","page_number":245,"box":{"x":110,"y":786,"width":812,"height":11}},{"id":"93a4cd69-da59-457b-b38a-3f487ac2f4c7","block_type":"box","text":"Equity Fund and the AI UK Listed Equity Income Fund) will continue to be prohibited from directly investing in","page_number":245,"box":{"x":110,"y":800,"width":812,"height":11}},{"id":"e979e703-aac0-4f31-819c-478c7c5ebfc1","block_type":"box","text":"or holding Aviva Plc shares due to Companies Act restrictions, however, they will continue to be permitted to","page_number":245,"box":{"x":110,"y":813,"width":813,"height":12}},{"id":"812d0cfb-284c-42d0-81bb-97c29f301e52","block_type":"box","text":"have indirect exposure to Aviva Plc shares, and direct and indirect exposure to all other Aviva Securities.","page_number":245,"box":{"x":110,"y":827,"width":774,"height":11}},{"id":"27564fde-b525-431a-b779-ec5df17ef27b","block_type":"box","text":"The AI UK Listed Equity Fund and the AI UK Listed Equity Income Fund both received holdings of Aviva Plc","page_number":245,"box":{"x":109,"y":854,"width":814,"height":11}},{"id":"43f34626-92ab-477c-bf4e-77ab8881f538","block_type":"box","text":"shares on launch of the Sub-Funds, via an in-specie transfer (‘Legacy Holdings’). These Sub-Funds are","page_number":245,"box":{"x":110,"y":868,"width":813,"height":11}},{"id":"709b2c95-b484-4482-b0ad-f522c94c7a93","block_type":"box","text":"permitted to continue to hold these Legacy Holdings but are prohibited from making any new direct investment","page_number":245,"box":{"x":110,"y":882,"width":813,"height":11}},{"id":"6d2f92f6-3d1c-42b2-8c7b-7b08820a7bad","block_type":"box","text":"in Aviva Plc shares.","page_number":245,"box":{"x":110,"y":895,"width":144,"height":9}},{"id":"2cce6301-4c7b-4f9f-9ca0-0a884c4679dc","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":246,"box":{"x":83,"y":940,"width":303,"height":8}},{"id":"10f281d4-da5c-49b4-b3c7-6d62bd8f26fe","block_type":"box","text":"246","page_number":246,"box":{"x":802,"y":940,"width":18,"height":6}},{"id":"3c591f50-21d7-4731-8d99-41e25f838259","block_type":"box","text":"Aviva Investors: Confidential","page_number":246,"box":{"x":96,"y":966,"width":154,"height":7}},{"id":"a104e3d8-e518-48b3-9724-f77cf8b67106","block_type":"box","text":"APPENDIX 7","page_number":246,"box":{"x":460,"y":60,"width":100,"height":8}},{"id":"503ba666-caa2-4d66-b87e-7333ce24308d","block_type":"box","text":"VALUATION AND PRICING","page_number":246,"box":{"x":404,"y":87,"width":212,"height":9}},{"id":"f0e2e413-beff-4c3c-9739-6ad6a26e1472","block_type":"box","text":"1.","page_number":246,"box":{"x":84,"y":113,"width":11,"height":8}},{"id":"724d3ab8-d768-43ac-8ec3-3fc691760d5e","block_type":"box","text":"DETERMINATION OF NET ASSET VALUE","page_number":246,"box":{"x":132,"y":112,"width":326,"height":9}},{"id":"4bc9e30f-16b7-4326-b95c-240944133bc9","block_type":"box","text":"The value of the scheme property shall be the value of the assets less the value of the liabilities as follows:","page_number":246,"box":{"x":131,"y":132,"width":789,"height":11}},{"id":"b32af326-351a-4de5-9244-3e6a68dfc948","block_type":"box","text":"(i)","page_number":246,"box":{"x":131,"y":151,"width":13,"height":12}},{"id":"e64ce3b1-8354-490e-8be2-1f6570881797","block_type":"box","text":"Property which is not cash shall be valued at the most recent prices which it is practicable to obtain.","page_number":246,"box":{"x":191,"y":152,"width":736,"height":11}},{"id":"e119e47c-d751-4e69-80dd-5205904dac41","block_type":"box","text":"(ii)","page_number":246,"box":{"x":131,"y":171,"width":17,"height":11}},{"id":"abc588de-631d-45d7-ac16-72931b0ce226","block_type":"box","text":"Units or shares in a collective scheme shall be valued at a single price or at the average of a buying","page_number":246,"box":{"x":191,"y":171,"width":746,"height":11}},{"id":"ea17fbb7-3f11-4e69-8a3a-b9773e5631eb","block_type":"box","text":"and selling price, if quoted, net of initial fees or redemption charges.","page_number":246,"box":{"x":191,"y":185,"width":502,"height":11}},{"id":"f47f1032-e94b-4e96-bf62-8d7d2245bc4a","block_type":"box","text":"(iii)","page_number":246,"box":{"x":131,"y":204,"width":20,"height":11}},{"id":"0015c6b7-b08f-47d0-a31b-4c0053ef99b5","block_type":"box","text":"Securities shall be valued at the single or average of the buying and selling price of a security, in the","page_number":246,"box":{"x":191,"y":204,"width":746,"height":11}},{"id":"906b694f-7127-4df3-abd0-20357a0b97c7","block_type":"box","text":"case of a listed security being the quoted price, or at the most recent prices which it is practicable to","page_number":246,"box":{"x":191,"y":218,"width":746,"height":11}},{"id":"52c72cde-e481-4511-a81d-ae939cb94423","block_type":"box","text":"obtain.","page_number":246,"box":{"x":191,"y":232,"width":49,"height":8}},{"id":"0fe125c4-86f0-41c0-b5ee-324447d6b16d","block_type":"box","text":"(iv) If, in the opinion of the ACS Manager, the price obtained is unreliable or there is no recent trade price","page_number":246,"box":{"x":131,"y":251,"width":806,"height":11}},{"id":"462303d2-360c-4254-b757-a477973a84c4","block_type":"box","text":"or the ACS Manager deems the price not a true reflection, the ACS Manager will use a fair value policy","page_number":246,"box":{"x":191,"y":265,"width":746,"height":11}},{"id":"38373eb8-14c2-42cf-a61b-474f355b1aca","block_type":"box","text":"to determine a price.","page_number":246,"box":{"x":191,"y":279,"width":151,"height":11}},{"id":"079ae7ea-4076-47c5-b662-38c670e18d25","block_type":"box","text":"(v)","page_number":246,"box":{"x":131,"y":298,"width":18,"height":11}},{"id":"11671b3b-a2a4-4f4c-a51f-f5633aa00d93","block_type":"box","text":"Cash and amounts held in current, deposit and margin accounts shall be valued at their nominal value.","page_number":246,"box":{"x":191,"y":298,"width":745,"height":11}},{"id":"b3719f96-6991-4d0c-81bc-8d4c1ff293f6","block_type":"box","text":"(vi) Currencies other than sterling will be converted at the relevant Valuation Point at an exchange rate","page_number":246,"box":{"x":131,"y":318,"width":806,"height":11}},{"id":"77467b51-487f-4ee6-9b8b-ce9b39fed360","block_type":"box","text":"not likely to be prejudicial to Unitholders or potential Unitholders.","page_number":246,"box":{"x":192,"y":331,"width":475,"height":11}},{"id":"db42abee-9991-4d5c-8573-6e73ddfb8f3e","block_type":"box","text":"(vii) Exchange traded derivative contracts shall be valued at the average of the quoted buying and selling","page_number":246,"box":{"x":131,"y":351,"width":806,"height":11}},{"id":"db9e9210-fd02-4bef-ab2e-f01155dd12ed","block_type":"box","text":"price.","page_number":246,"box":{"x":192,"y":365,"width":38,"height":11}},{"id":"ae38c549-3b84-4f92-b1cf-d7e285093676","block_type":"box","text":"(viii) Over-the-counter derivative contracts shall be valued as agreed between the ACS Manager and the","page_number":246,"box":{"x":131,"y":384,"width":806,"height":11}},{"id":"224f53d1-9c69-4881-9237-bc8daf16850f","block_type":"box","text":"Depositary.","page_number":246,"box":{"x":192,"y":398,"width":82,"height":11}},{"id":"68751060-9f87-4135-990f-b77bc3ace187","block_type":"box","text":"(ix) All instructions given to issue or cancel shares will be assumed to have been effected and the cash","page_number":246,"box":{"x":131,"y":417,"width":806,"height":12}},{"id":"cb52f316-d234-4389-8caf-25de5df0f453","block_type":"box","text":"paid or received taken into account.","page_number":246,"box":{"x":192,"y":431,"width":262,"height":11}},{"id":"127960a0-f1e0-4e70-a9b4-636a6535ec6c","block_type":"box","text":"(x)","page_number":246,"box":{"x":131,"y":451,"width":18,"height":11}},{"id":"533a1bcc-a886-42d5-b0bb-fcd8f8e01d90","block_type":"box","text":"Futures or contracts for differences which are not yet due to be performed and unexpired and","page_number":246,"box":{"x":191,"y":451,"width":746,"height":11}},{"id":"37561a30-0215-4709-80d7-2c9ac776f5f0","block_type":"box","text":"unexercised written or purchased options shall not be included for the purposes of valuation.","page_number":246,"box":{"x":192,"y":464,"width":683,"height":11}},{"id":"0531aa58-21f6-414a-bf4d-5b52c2ada194","block_type":"box","text":"(xi) The valuation shall deduct an estimate of any tax liabilities.","page_number":246,"box":{"x":131,"y":484,"width":494,"height":11}},{"id":"77cd2f1a-222a-4c6c-bf1d-05570e54ebf6","block_type":"box","text":"(xii) The valuation shall deduct an estimate of liabilities accrued and payable out of the scheme property.","page_number":246,"box":{"x":131,"y":503,"width":801,"height":12}},{"id":"3bdc5f25-8d46-4f58-90fe-f69422c076e8","block_type":"box","text":"(xiii) The valuation shall deduct the principal of any outstanding borrowings and any accrued, unpaid","page_number":246,"box":{"x":131,"y":523,"width":806,"height":11}},{"id":"d69d9174-3401-4bee-9fa7-b2b36b663623","block_type":"box","text":"interest.","page_number":246,"box":{"x":192,"y":537,"width":57,"height":9}},{"id":"41427415-b921-4167-8e4d-6ee07967b9f9","block_type":"box","text":"(xiv) The valuation shall include an estimate of any accrued claims for tax.","page_number":246,"box":{"x":131,"y":556,"width":570,"height":12}},{"id":"e0cf840f-a42b-412d-944a-eb630104f71d","block_type":"box","text":"(xv) The valuation shall add any other accrued amounts to be paid or received into the Scheme.","page_number":246,"box":{"x":131,"y":576,"width":735,"height":11}},{"id":"16b35886-dcde-4a88-816e-3d914541b05a","block_type":"box","text":"2.","page_number":246,"box":{"x":83,"y":622,"width":12,"height":8}},{"id":"7f2254c0-a69f-4fe7-a283-c348eee76670","block_type":"box","text":"DETERMINATION OF UNIT PRICE","page_number":246,"box":{"x":132,"y":621,"width":265,"height":9}},{"id":"f55e1bef-394f-486e-9cb6-3bb29e7f0e64","block_type":"box","text":"There is a single price (per Unit Class) for dealing in Units in each Sub-Fund.","page_number":246,"box":{"x":131,"y":641,"width":569,"height":11}},{"id":"fa90aefe-cd7d-4d46-91f8-ef4a83b514b7","block_type":"box","text":"The actual cost of purchasing or selling a Sub-Fund’s underlying investments may be higher or lower than the","page_number":246,"box":{"x":131,"y":680,"width":806,"height":11}},{"id":"c8bbc578-dd6a-4ab7-97eb-d7adacad5095","block_type":"box","text":"mid-market value used in calculating the Unit price. Accordingly, the Sub-Fund may suffer a reduction (dilution)","page_number":246,"box":{"x":131,"y":693,"width":805,"height":12}},{"id":"c6bf8fea-ff5f-4380-9bd5-d1a08eaf5805","block_type":"box","text":"in the value of the scheme property resulting from the costs incurred in dealing in the underlying investments","page_number":246,"box":{"x":131,"y":707,"width":806,"height":11}},{"id":"65610460-6035-4454-bc14-eb275b4aa204","block_type":"box","text":"and any spread between the buying and selling prices of those investments.","page_number":246,"box":{"x":131,"y":721,"width":562,"height":11}},{"id":"e3b389c0-ae23-4d82-9302-489c9d5a9805","block_type":"box","text":"Therefore, in order to protect the interests of existing Unitholders from the impacts of such dilution, on any","page_number":246,"box":{"x":131,"y":760,"width":806,"height":11}},{"id":"773f6174-cc96-4f67-998e-640868e5c277","block_type":"box","text":"Dealing Day where there are Unitholder cash flows into or out of a Sub-Fund, the ACS Manager will determine","page_number":246,"box":{"x":132,"y":774,"width":805,"height":11}},{"id":"58b0b9d3-86c0-46dc-a884-a04338a06515","block_type":"box","text":"if the mid-price will be adjusted either up or down, in order to mitigate any adverse effect of dealing in the","page_number":246,"box":{"x":131,"y":787,"width":806,"height":12}},{"id":"d0e84c5c-3111-4748-adee-a41a920757e7","block_type":"box","text":"underlying investments of a Sub-Fund (dilution).","page_number":246,"box":{"x":131,"y":801,"width":355,"height":11}},{"id":"64debea4-0d98-4672-a9ba-256e8ab22585","block_type":"box","text":"This adjustment to the price is known as swing pricing and is also known as single pricing with a dilution","page_number":246,"box":{"x":131,"y":840,"width":805,"height":11}},{"id":"aed084d7-7bd1-4691-acfc-3dba332b253f","block_type":"box","text":"adjustment. To explain further, the ACS Manager will establish the approximate impact of dealing in the","page_number":246,"box":{"x":131,"y":854,"width":806,"height":11}},{"id":"6812b477-2f2d-439c-82bd-479de2f8cc3b","block_type":"box","text":"underlying assets of a Sub-Fund including market spreads and dealing costs. Market spread is the difference","page_number":246,"box":{"x":131,"y":867,"width":806,"height":12}},{"id":"e1521d2b-0ad5-4f89-afe0-93cf1178a0a8","block_type":"box","text":"between the buying and selling prices provided by the market makers who deal in the underlying investments.","page_number":246,"box":{"x":131,"y":881,"width":805,"height":11}},{"id":"9d954411-7b46-423e-926a-c78a4ebd8637","block_type":"box","text":"Dealing costs are an estimate of the costs of trading in the underlying investments including brokerage fees","page_number":246,"box":{"x":132,"y":895,"width":805,"height":11}},{"id":"24ac84d7-ed79-49e3-b94a-d7798cfb3df2","block_type":"box","text":"and any relevant taxes. The amounts by which the mid-price is adjusted will vary Sub-Fund to Sub-Fund","page_number":246,"box":{"x":131,"y":908,"width":805,"height":12}},{"id":"0ad958bd-b401-4fec-93f3-b3ee99f90b9e","block_type":"box","text":"depending on the type of underlying assets in which the Sub-Fund invests, and the markets and regions in","page_number":246,"box":{"x":131,"y":922,"width":805,"height":11}},{"id":"a9fbfb4b-ceae-4386-8565-4db2d1c9f197","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":247,"box":{"x":83,"y":940,"width":303,"height":8}},{"id":"be2f29d5-cac4-4439-a146-5a7264a63921","block_type":"box","text":"247","page_number":247,"box":{"x":802,"y":940,"width":18,"height":6}},{"id":"6f037d31-07ea-4e5f-b5dc-ae1dd850beea","block_type":"box","text":"Aviva Investors: Confidential","page_number":247,"box":{"x":96,"y":966,"width":154,"height":7}},{"id":"94232419-7106-4cd2-a940-da8a02fff696","block_type":"box","text":"which the underlying assets are traded. For example, a Sub-Fund investing in real assets (whether directly or","page_number":247,"box":{"x":131,"y":46,"width":807,"height":11}},{"id":"4eee80a5-4fd7-420a-a826-0f9fe6d8c87a","block_type":"box","text":"indirectly) will typically require a higher value adjustment than Sub-Funds investing in equities or fixed interest","page_number":247,"box":{"x":131,"y":59,"width":806,"height":12}},{"id":"b980595b-d5ae-4376-891d-db05117be8c7","block_type":"box","text":"assets due to the higher taxes and transaction costs involved in this asset class, and in turn a Sub-Fund","page_number":247,"box":{"x":131,"y":73,"width":805,"height":11}},{"id":"fcc323c8-ecf0-4961-ab3b-a34bd3c8f6ae","block_type":"box","text":"investing in equities will typically require a higher value adjustment than a Sub-Fund investing in fixed interest","page_number":247,"box":{"x":131,"y":87,"width":806,"height":11}},{"id":"b961a111-1047-4978-a3b5-fc8212b0d0e5","block_type":"box","text":"assets due to the higher market spreads and dealing costs associated with equities. The approximate impact","page_number":247,"box":{"x":131,"y":100,"width":806,"height":12}},{"id":"508224b3-36ce-4439-993a-047d2e377431","block_type":"box","text":"of dealing in the underlying assets of a Sub-Fund is based upon an average of the taxes, fees and","page_number":247,"box":{"x":131,"y":114,"width":805,"height":11}},{"id":"9eef1cbd-d241-4d65-add9-dc298010874e","block_type":"box","text":"commissions incurred on a country-by-country basis. These are reviewed periodically to ensure that the costs","page_number":247,"box":{"x":131,"y":128,"width":806,"height":11}},{"id":"93ba6b54-754d-4186-b5e9-96462249906b","block_type":"box","text":"remain an accurate reflection of the dealing costs incurred by a Sub-Fund.","page_number":247,"box":{"x":132,"y":141,"width":548,"height":12}},{"id":"b47ac645-74b6-4300-af5d-a075346faeae","block_type":"box","text":"Once the approximate impact of dealing in the underlying assets of a Sub-Fund has been established the","page_number":247,"box":{"x":131,"y":180,"width":806,"height":12}},{"id":"ee2fb37b-45e5-4724-b1cd-0b1c1bb364d4","block_type":"box","text":"quoted single mid-price will then be adjusted (or swung) according to the Sub-Funds portfolio of underlying","page_number":247,"box":{"x":131,"y":194,"width":806,"height":11}},{"id":"adce9f7f-c78d-4264-bf64-f7543d9f3498","block_type":"box","text":"investments on the date of each swing event. The direction in which the mid-price is adjusted will depend on","page_number":247,"box":{"x":131,"y":208,"width":806,"height":11}},{"id":"581554be-f33e-4533-a59b-2985a0e64a2a","block_type":"box","text":"the flow of Unitholder deals; with the mid-price being adjusted upwards if a Sub-Fund is experiencing net","page_number":247,"box":{"x":131,"y":221,"width":806,"height":12}},{"id":"ecba8c36-93b8-4e30-b9db-39e31fd76bcc","block_type":"box","text":"inflows (swing to offer) or adjusted downwards if a Sub-Fund is experiencing net outflows (swing to bid) The","page_number":247,"box":{"x":131,"y":235,"width":806,"height":11}},{"id":"e7d626d9-8daa-4052-97cc-820f3aa946af","block_type":"box","text":"adjusted price will be shown on the contract note issued to Unitholders.","page_number":247,"box":{"x":131,"y":249,"width":526,"height":11}},{"id":"5009bbf2-22df-4430-b0ef-2d700c43656e","block_type":"box","text":"Although it is not possible to accurately predict whether any dilution will occur within a Sub-Fund at any time,","page_number":247,"box":{"x":131,"y":288,"width":805,"height":11}},{"id":"f33fe888-fa17-46ca-ba22-8f86208c132a","block_type":"box","text":"as outlined above the ACS Manager may apply its dilution adjustment policy on any Dealing Day where there","page_number":247,"box":{"x":131,"y":302,"width":806,"height":11}},{"id":"9c455e7b-6143-4070-b5f3-96b823e32395","block_type":"box","text":"is Unitholder cash flows into or out of a Sub-Fund. On any other day, no dilution adjustments will take place","page_number":247,"box":{"x":131,"y":315,"width":806,"height":11}},{"id":"59257fbd-e046-47f3-9742-c37bc60ba827","block_type":"box","text":"and the Sub-Fund will price at mid. Given this policy, it is expected that a dilution adjustment will apply to every","page_number":247,"box":{"x":131,"y":329,"width":806,"height":11}},{"id":"0becba2f-d3b2-412f-ae97-4ecb8223c8b0","block_type":"box","text":"purchase or redemption of Units in a Sub-Fund.","page_number":247,"box":{"x":131,"y":343,"width":352,"height":11}},{"id":"032f4610-4a82-4015-8b76-034ac31bb41c","block_type":"box","text":"For the following Sub-Funds, the average of the range of dilution adjustments that have applied in the period","page_number":247,"box":{"x":132,"y":382,"width":804,"height":11}},{"id":"a8bfb845-eb9c-4382-b8e4-af932c5fac3d","block_type":"box","text":"1 January 2024 to 31 December 2024 are as follows. Please note for these purposes, the data shown is in","page_number":247,"box":{"x":132,"y":395,"width":805,"height":12}},{"id":"26dd8a7c-4184-4a74-8141-4681c5fd609d","block_type":"box","text":"respect of the UK Institutional Accumulation Unit Class in each Sub-Fund other than in respect of Sub-Funds","page_number":247,"box":{"x":132,"y":409,"width":805,"height":11}},{"id":"f8f7d91d-dc69-4ba2-930d-f2f4687087ef","block_type":"box","text":"marked with a single †, which reflects data for the relevant Insured Pension Unit Class, and those marked with","page_number":247,"box":{"x":131,"y":423,"width":805,"height":11}},{"id":"0fd6b658-2247-447f-a2c2-a6b10f96b1a2","block_type":"box","text":"a double ††, which reflect data for the UK Corporate Income Distribution Unit Class.","page_number":247,"box":{"x":131,"y":436,"width":620,"height":12}},{"id":"fc31b9be-5984-4737-93a4-36de7e5e4119","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":248,"box":{"x":83,"y":940,"width":303,"height":8}},{"id":"50ff9ec6-d9cc-4edb-a382-4212e82649ac","block_type":"box","text":"248","page_number":248,"box":{"x":802,"y":940,"width":18,"height":6}},{"id":"c239c0ee-8269-4ce5-9af4-6f5b3ae71a74","block_type":"box","text":"Aviva Investors: Confidential","page_number":248,"box":{"x":96,"y":966,"width":154,"height":7}},{"id":"a61a2f3d-f70a-4b3b-98d4-5a886a581754","block_type":"box","text":"Sub-Fund","page_number":248,"box":{"x":141,"y":52,"width":76,"height":9}},{"id":"99331897-6df0-49d5-9b2e-ef1f65bf8365","block_type":"box","text":"Swing to bid (%)","page_number":248,"box":{"x":485,"y":52,"width":130,"height":11}},{"id":"6adcca19-272a-4528-8365-64baf2f5e867","block_type":"box","text":"Swing to offer (%)","page_number":248,"box":{"x":640,"y":52,"width":142,"height":11}},{"id":"62d6dcc2-d435-4ed7-8806-563a8609de9c","block_type":"box","text":"AI Stewardship UK Equity Fund***","page_number":248,"box":{"x":140,"y":78,"width":254,"height":12}},{"id":"bfdb759c-11ee-46c1-9acd-82db451c0da1","block_type":"box","text":"0.12","page_number":248,"box":{"x":485,"y":79,"width":31,"height":8}},{"id":"2f91db5a-e3f4-4b7e-aa69-3f96f768a87f","block_type":"box","text":"0.58","page_number":248,"box":{"x":640,"y":79,"width":31,"height":8}},{"id":"c61522f2-a6cc-4020-b9d1-d372fd0e1a06","block_type":"box","text":"AI Stewardship International Equity Fund****","page_number":248,"box":{"x":140,"y":105,"width":326,"height":11}},{"id":"d391e636-4dbf-4dd7-a67d-ca3498a5acae","block_type":"box","text":"0.04","page_number":248,"box":{"x":485,"y":105,"width":32,"height":8}},{"id":"e994b05a-e141-49bd-aa21-2b993f04f6f4","block_type":"box","text":"0.15","page_number":248,"box":{"x":640,"y":105,"width":31,"height":8}},{"id":"04c98381-24b3-41c9-b9e4-9106ba3b0bfd","block_type":"box","text":"AI Stewardship UK Equity Income Fund*****","page_number":248,"box":{"x":140,"y":131,"width":326,"height":11}},{"id":"d0ef601b-865f-43cd-8cf2-bced0155dbc3","block_type":"box","text":"0.09","page_number":248,"box":{"x":485,"y":131,"width":32,"height":9}},{"id":"92c87fb2-dd38-4143-a1ae-8bb9d00ea7d7","block_type":"box","text":"0.55","page_number":248,"box":{"x":640,"y":131,"width":31,"height":9}},{"id":"c0b51d5d-a6a4-4580-9a1c-b59dcb76ed40","block_type":"box","text":"AI Stewardship Fixed Interest Fund******","page_number":248,"box":{"x":140,"y":157,"width":301,"height":11}},{"id":"64775d46-b212-4138-b3cb-d5fe38f1fb33","block_type":"box","text":"0.20","page_number":248,"box":{"x":485,"y":157,"width":32,"height":9}},{"id":"df5b4198-0374-46f8-bc7f-fadb14f654bb","block_type":"box","text":"0.20","page_number":248,"box":{"x":640,"y":157,"width":31,"height":9}},{"id":"8adc59b2-3712-4c71-85bb-72e9f3dcf5c5","block_type":"box","text":"AI UK Listed Equity Fund","page_number":248,"box":{"x":140,"y":183,"width":187,"height":11}},{"id":"3ffa1dbc-a7ea-4172-95ac-d9f306bcd810","block_type":"box","text":"0.07","page_number":248,"box":{"x":485,"y":183,"width":32,"height":9}},{"id":"dd1949c5-61c9-4fac-85ad-69d5ed031b42","block_type":"box","text":"0.51","page_number":248,"box":{"x":640,"y":183,"width":29,"height":9}},{"id":"06996b6a-0e7d-4461-9458-9949517de21e","block_type":"box","text":"AI UK Listed Equity Income Fund","page_number":248,"box":{"x":140,"y":209,"width":246,"height":11}},{"id":"456eeb27-44e1-49e8-946c-b06499cf2e12","block_type":"box","text":"0.07","page_number":248,"box":{"x":485,"y":209,"width":32,"height":9}},{"id":"0def81b9-f2a8-45e0-8d73-1aad35eaa637","block_type":"box","text":"0.49","page_number":248,"box":{"x":640,"y":209,"width":31,"height":9}},{"id":"8e9dc032-4993-43c2-9fc7-b73d30a99f6b","block_type":"box","text":"AI Europe Equity ex UK Fund","page_number":248,"box":{"x":140,"y":235,"width":218,"height":11}},{"id":"537b89ee-bd5d-4f93-b6da-2f4eda967c83","block_type":"box","text":"0.05","page_number":248,"box":{"x":485,"y":236,"width":32,"height":8}},{"id":"5e89a481-1002-49c9-8bff-a219d5dd747f","block_type":"box","text":"0.16","page_number":248,"box":{"x":640,"y":236,"width":31,"height":8}},{"id":"e32edcfc-18c6-4890-b678-e1b07e529abd","block_type":"box","text":"AI US Large Cap Equity Fund","page_number":248,"box":{"x":140,"y":261,"width":220,"height":12}},{"id":"a36610f6-bb66-4218-a78c-cd278406e7fd","block_type":"box","text":"0.10","page_number":248,"box":{"x":485,"y":262,"width":32,"height":8}},{"id":"99fa3362-d723-48ef-b144-6142871026fc","block_type":"box","text":"0.10","page_number":248,"box":{"x":640,"y":262,"width":31,"height":8}},{"id":"f27c7c25-e9b3-4824-9b74-504dec99fa8a","block_type":"box","text":"AI North American Equity Fund","page_number":248,"box":{"x":140,"y":288,"width":231,"height":11}},{"id":"0224c2b2-896f-4f11-b067-2708f1d54143","block_type":"box","text":"0.10","page_number":248,"box":{"x":485,"y":288,"width":32,"height":8}},{"id":"ed99299e-2657-45d7-80ca-f41181cf8600","block_type":"box","text":"0.10","page_number":248,"box":{"x":640,"y":288,"width":31,"height":8}},{"id":"ecd94d17-ccd8-4b0b-861c-87c9a04adfb1","block_type":"box","text":"AI Japan Equity Fund","page_number":248,"box":{"x":140,"y":314,"width":160,"height":11}},{"id":"18d2d08f-d32c-4788-bfa2-def3d2b6d320","block_type":"box","text":"0.15","page_number":248,"box":{"x":485,"y":314,"width":32,"height":9}},{"id":"c3221dc7-d895-4972-8fa0-86023d3f007b","block_type":"box","text":"0.15","page_number":248,"box":{"x":640,"y":314,"width":31,"height":9}},{"id":"8f8db3f6-f323-4453-9917-a297453a7b0a","block_type":"box","text":"AI Asia Pacific ex Japan Fund","page_number":248,"box":{"x":140,"y":340,"width":222,"height":11}},{"id":"e6b0579e-ac7b-4263-a108-4d9bb917f35c","block_type":"box","text":"0.25","page_number":248,"box":{"x":485,"y":340,"width":32,"height":9}},{"id":"26602dca-c1b1-4ac8-bb7d-837f2b8bc9f2","block_type":"box","text":"0.21","page_number":248,"box":{"x":640,"y":340,"width":29,"height":9}},{"id":"c51aee3a-094d-49ef-85a9-110374fc4a64","block_type":"box","text":"AI Global Equity Fund","page_number":248,"box":{"x":140,"y":366,"width":162,"height":11}},{"id":"1b8e6def-dc5f-4207-8bef-b71a47dd886f","block_type":"box","text":"0.09","page_number":248,"box":{"x":485,"y":366,"width":32,"height":9}},{"id":"07b46c51-4cb8-4963-a2ef-1ef7a9663637","block_type":"box","text":"0.14","page_number":248,"box":{"x":640,"y":366,"width":32,"height":9}},{"id":"9c1e978d-916e-487d-b87e-ad1066ea3be6","block_type":"box","text":"AI Global Equity Growth Fund*","page_number":248,"box":{"x":140,"y":392,"width":228,"height":11}},{"id":"1836fa8e-ff42-4afb-b076-c49760ebb104","block_type":"box","text":"0.09","page_number":248,"box":{"x":485,"y":392,"width":32,"height":9}},{"id":"b474c750-5c94-4911-9c6e-ed9a3934af4b","block_type":"box","text":"0.14","page_number":248,"box":{"x":640,"y":392,"width":32,"height":9}},{"id":"92b6af45-94e6-4167-8494-bd1c371f8314","block_type":"box","text":"AI Strategic Global Equity Fund","page_number":248,"box":{"x":140,"y":418,"width":233,"height":11}},{"id":"7be48e19-3cec-4493-a076-40a65b356e63","block_type":"box","text":"0.10","page_number":248,"box":{"x":485,"y":418,"width":32,"height":9}},{"id":"da34d096-335a-4483-9c6e-a669d2d1823d","block_type":"box","text":"0.12","page_number":248,"box":{"x":640,"y":418,"width":31,"height":9}},{"id":"830c3ee3-19db-4a12-afbd-7dac449ad72a","block_type":"box","text":"AI Sterling Corporate Bond Fund","page_number":248,"box":{"x":140,"y":444,"width":243,"height":11}},{"id":"7ab96a65-6059-4512-b183-3bf6c2561ca7","block_type":"box","text":"0.24","page_number":248,"box":{"x":485,"y":445,"width":32,"height":8}},{"id":"435cfe1b-2692-4c89-9580-ab30a17630c6","block_type":"box","text":"0.24","page_number":248,"box":{"x":640,"y":445,"width":32,"height":8}},{"id":"8fd2faa0-d9f1-427d-af4a-dbe11b5947a2","block_type":"box","text":"AI Index Linked Gilt Fund†","page_number":248,"box":{"x":140,"y":470,"width":197,"height":11}},{"id":"01549982-7423-466a-a16b-442220a669c3","block_type":"box","text":"0.10","page_number":248,"box":{"x":485,"y":471,"width":32,"height":8}},{"id":"621ab2a3-0013-405b-b1d9-7ea13296f5e1","block_type":"box","text":"0.10","page_number":248,"box":{"x":640,"y":471,"width":31,"height":8}},{"id":"7050a6b5-79b6-49fd-832d-0d160c242edd","block_type":"box","text":"AI Sterling Gilt Fund","page_number":248,"box":{"x":140,"y":496,"width":149,"height":12}},{"id":"40f0043c-734d-4732-972b-857547c122c3","block_type":"box","text":"0.02","page_number":248,"box":{"x":485,"y":497,"width":31,"height":8}},{"id":"31ea7064-6667-4f4f-9d77-24f5aec01b70","block_type":"box","text":"0.02","page_number":248,"box":{"x":640,"y":497,"width":31,"height":8}},{"id":"ec7f3b63-cb4b-475a-9a48-f67455dc071c","block_type":"box","text":"AI Pre-Annuity Fixed Interest Fund","page_number":248,"box":{"x":140,"y":523,"width":257,"height":11}},{"id":"40fc9b45-ab0c-4a71-b859-4c366bbbb4d9","block_type":"box","text":"0.13","page_number":248,"box":{"x":485,"y":523,"width":32,"height":8}},{"id":"c7405466-7a55-4707-9a7f-9fec4a1c82c1","block_type":"box","text":"0.13","page_number":248,"box":{"x":640,"y":523,"width":32,"height":8}},{"id":"2b1bd582-ae74-4b3b-b035-daf3dc728c5a","block_type":"box","text":"AI Money Market VNAV Fund†","page_number":248,"box":{"x":140,"y":549,"width":229,"height":11}},{"id":"faae6d9b-3af3-4083-b86f-45eda91a6242","block_type":"box","text":"0.00","page_number":248,"box":{"x":485,"y":549,"width":32,"height":9}},{"id":"bf84fe1f-a4ee-411e-8d62-872099c2a6d3","block_type":"box","text":"0.00","page_number":248,"box":{"x":640,"y":549,"width":31,"height":9}},{"id":"b1e2c583-2c2b-40ed-a89b-f20ca16a4386","block_type":"box","text":"AI Balanced Pension Fund","page_number":248,"box":{"x":140,"y":575,"width":198,"height":9}},{"id":"e2c8283a-83a2-4b8a-beae-822737e2bc34","block_type":"box","text":"0.04","page_number":248,"box":{"x":485,"y":575,"width":32,"height":9}},{"id":"edb3d72c-d8bd-4ca1-bd4f-c3509609b012","block_type":"box","text":"0.05","page_number":248,"box":{"x":640,"y":575,"width":31,"height":9}},{"id":"43d6001f-2662-47fe-b422-37c60906f6ea","block_type":"box","text":"AI Balanced Life Fund††","page_number":248,"box":{"x":140,"y":601,"width":183,"height":10}},{"id":"d714b732-dbc2-4988-aacc-cabd67de581a","block_type":"box","text":"0.03","page_number":248,"box":{"x":485,"y":601,"width":32,"height":9}},{"id":"3b7068cb-9a93-49c7-bf15-4ce971f01e00","block_type":"box","text":"0.03","page_number":248,"box":{"x":640,"y":601,"width":32,"height":9}},{"id":"6e8bf099-6cab-4ab6-b207-bf4b3054b982","block_type":"box","text":"AI Cautious Pension Fund","page_number":248,"box":{"x":140,"y":627,"width":194,"height":9}},{"id":"71724366-3d02-425f-891b-d391014bd5b4","block_type":"box","text":"0.02","page_number":248,"box":{"x":485,"y":627,"width":31,"height":9}},{"id":"300e80f2-d3c0-40dc-9fba-455f32bc06d7","block_type":"box","text":"0.03","page_number":248,"box":{"x":640,"y":627,"width":32,"height":9}},{"id":"d8d04984-6a3f-463b-b619-c8015455f98d","block_type":"box","text":"AI Distribution Life Fund††","page_number":248,"box":{"x":140,"y":653,"width":197,"height":11}},{"id":"95d37235-e3a0-4eb2-bff3-b5375214dfab","block_type":"box","text":"0.05","page_number":248,"box":{"x":485,"y":654,"width":32,"height":8}},{"id":"ddea1ece-1a55-4368-8cdf-357d29528868","block_type":"box","text":"0.08","page_number":248,"box":{"x":640,"y":654,"width":31,"height":8}},{"id":"84f5b797-ee8d-4fa6-881f-f5fe40108ae4","block_type":"box","text":"AI UK Equity Alpha Fund†","page_number":248,"box":{"x":140,"y":680,"width":194,"height":11}},{"id":"7ab063ee-27f4-43e1-b338-8d87ef5da824","block_type":"box","text":"0.07","page_number":248,"box":{"x":485,"y":680,"width":32,"height":8}},{"id":"aee94029-6399-4a31-8f7e-e958b7186cbb","block_type":"box","text":"0.55","page_number":248,"box":{"x":640,"y":680,"width":31,"height":8}},{"id":"ef7b51e4-4d66-4983-8961-dccc8020a00b","block_type":"box","text":"AI UK Equity Dividend Fund†","page_number":248,"box":{"x":140,"y":706,"width":217,"height":11}},{"id":"88170b23-b55f-4f3a-842a-a8644dd905fd","block_type":"box","text":"0.10","page_number":248,"box":{"x":485,"y":706,"width":32,"height":8}},{"id":"ccba191b-8726-4608-8365-4af57b6fe2ef","block_type":"box","text":"0.57","page_number":248,"box":{"x":640,"y":706,"width":32,"height":8}},{"id":"c18c94ba-2ba9-487f-8d2e-686d2a43628f","block_type":"box","text":"AI Continental European Equity Alpha","page_number":248,"box":{"x":140,"y":731,"width":326,"height":12}},{"id":"119bad84-bf87-4521-80a4-3a662207ab77","block_type":"box","text":"Fund*(please note that this Sub-Fund is in","page_number":248,"box":{"x":141,"y":745,"width":325,"height":11}},{"id":"67ff4f95-410f-44a9-8c1a-9041d6df956d","block_type":"box","text":"the process of being terminated and is no","page_number":248,"box":{"x":140,"y":759,"width":326,"height":11}},{"id":"8c6c2e50-8a77-4bb7-97bc-215f0ab7ac91","block_type":"box","text":"longer available for investment)","page_number":248,"box":{"x":141,"y":773,"width":231,"height":11}},{"id":"c06a073a-50d6-40b6-92b4-2341c2fce811","block_type":"box","text":"N/A","page_number":248,"box":{"x":486,"y":732,"width":26,"height":9}},{"id":"198b2a58-14f3-40ec-bca4-6f94859834c6","block_type":"box","text":"N/A","page_number":248,"box":{"x":641,"y":732,"width":26,"height":9}},{"id":"76616d5c-4c8f-41bf-a01b-c1046c11bc6b","block_type":"box","text":"AI UK Listed Equity Ex Tobacco Fund","page_number":248,"box":{"x":140,"y":799,"width":280,"height":11}},{"id":"276eb415-c145-4a0c-b7e7-07430eebdb6b","block_type":"box","text":"0.07","page_number":248,"box":{"x":485,"y":799,"width":32,"height":9}},{"id":"21bd7ef6-6791-4733-9618-fd7916f8d84e","block_type":"box","text":"0.51","page_number":248,"box":{"x":640,"y":799,"width":29,"height":9}},{"id":"75a5c304-a633-4fec-8c2c-f553d013e476","block_type":"box","text":"Aviva Investors UK Equity Core Fund","page_number":248,"box":{"x":140,"y":825,"width":276,"height":11}},{"id":"7b034832-f093-4626-a96c-38d395e4e53b","block_type":"box","text":"0.06","page_number":248,"box":{"x":485,"y":825,"width":32,"height":9}},{"id":"e3c8bf91-4050-44c2-aea9-0229ec369c7e","block_type":"box","text":"0.53","page_number":248,"box":{"x":640,"y":825,"width":32,"height":9}},{"id":"8785ca53-8d48-4b63-a5aa-8db65440cc8c","block_type":"box","text":"Aviva Investors Europe Equity Ex UK Core","page_number":248,"box":{"x":140,"y":851,"width":326,"height":11}},{"id":"b8a54075-f15b-4e83-afdb-10e23e52417b","block_type":"box","text":"Fund","page_number":248,"box":{"x":141,"y":865,"width":36,"height":8}},{"id":"3b79599c-b1f0-4bc2-a941-90291d8aae9e","block_type":"box","text":"0.05","page_number":248,"box":{"x":485,"y":851,"width":32,"height":9}},{"id":"b3c63ea5-c7cc-4cfe-965e-0f7cd6cc05dd","block_type":"box","text":"0.14","page_number":248,"box":{"x":640,"y":851,"width":32,"height":9}},{"id":"c37deff9-1f9f-4564-b3ab-15006c74e43c","block_type":"box","text":"Aviva Investors Japan Equity Core Fund","page_number":248,"box":{"x":140,"y":891,"width":299,"height":11}},{"id":"0dcede48-dd2b-4fee-9c4a-5905544320d1","block_type":"box","text":"0.13","page_number":248,"box":{"x":485,"y":891,"width":32,"height":9}},{"id":"27454039-bbf6-4899-9691-9dc996088d47","block_type":"box","text":"0.12","page_number":248,"box":{"x":640,"y":891,"width":31,"height":9}},{"id":"602a87f9-f86d-4aa7-807c-ce7d7b9db657","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":249,"box":{"x":83,"y":940,"width":303,"height":8}},{"id":"f1918372-3aa4-4da6-94cd-d8fb39d55031","block_type":"box","text":"249","page_number":249,"box":{"x":802,"y":940,"width":18,"height":6}},{"id":"2273d03a-870e-4b7d-9e3e-edb3bbae7e69","block_type":"box","text":"Aviva Investors: Confidential","page_number":249,"box":{"x":96,"y":966,"width":154,"height":7}},{"id":"60938356-5749-465f-af4f-e799915df170","block_type":"box","text":"Aviva Investors Pacific Equity ex Japan Core","page_number":249,"box":{"x":140,"y":52,"width":326,"height":11}},{"id":"c1bcefdc-32ee-4dc7-9344-4a069bb4fb09","block_type":"box","text":"Fund","page_number":249,"box":{"x":141,"y":66,"width":36,"height":9}},{"id":"481a34f4-371e-475c-9bc0-4f3822d96e29","block_type":"box","text":"0.29","page_number":249,"box":{"x":485,"y":53,"width":32,"height":8}},{"id":"17fb9e8d-c395-4544-a902-724d32e404fc","block_type":"box","text":"0.30","page_number":249,"box":{"x":640,"y":53,"width":31,"height":8}},{"id":"783989ac-77cc-4363-a161-03970e6b498c","block_type":"box","text":"Aviva Investors North American Equity Core","page_number":249,"box":{"x":140,"y":92,"width":326,"height":11}},{"id":"b613c6b5-26f4-4d8b-80c8-31890342ceca","block_type":"box","text":"Fund","page_number":249,"box":{"x":141,"y":106,"width":36,"height":9}},{"id":"b50a44b0-c7e0-48fe-a1e7-e9284aeb1d96","block_type":"box","text":"0.08","page_number":249,"box":{"x":485,"y":92,"width":32,"height":9}},{"id":"9e335b82-e3e7-49eb-a3a3-f7b21a73d46b","block_type":"box","text":"0.10","page_number":249,"box":{"x":640,"y":92,"width":31,"height":9}},{"id":"73c8088e-159a-4b14-9dcc-05458cbc7769","block_type":"box","text":"Aviva Investors Emerging Market Equity","page_number":249,"box":{"x":140,"y":132,"width":327,"height":11}},{"id":"6b160fc5-3701-453e-8b5d-18a81f7370c8","block_type":"box","text":"Core Fund","page_number":249,"box":{"x":141,"y":145,"width":77,"height":9}},{"id":"b52f8585-cd38-4429-9e79-8b8574461539","block_type":"box","text":"0.13*****","page_number":249,"box":{"x":485,"y":132,"width":64,"height":9}},{"id":"8f62a4d8-e41b-467f-8391-d2187627d03c","block_type":"box","text":"0.11*****","page_number":249,"box":{"x":640,"y":132,"width":64,"height":9}},{"id":"471dd745-fe65-4d31-826a-5b2fdf2cda11","block_type":"box","text":"* Prior to 5 October 2021, this Sub-Fund was called the AI Global Equity Alpha Fund.","page_number":249,"box":{"x":83,"y":191,"width":629,"height":11}},{"id":"bfd60c85-4b57-446a-944f-63e3bc21ec23","block_type":"box","text":"** This is an estimated dilution adjustment based on future projections. It is important to note that this is an","page_number":249,"box":{"x":83,"y":211,"width":787,"height":11}},{"id":"8e5bc72a-4d60-4814-8a42-b50902600ccf","block_type":"box","text":"estimate only and is therefore not necessarily an accurate indication of the dilution adjustment which will be applied","page_number":249,"box":{"x":83,"y":224,"width":853,"height":12}},{"id":"4ccfd8fb-4dde-4cc7-b2fe-d54fbd3c8446","block_type":"box","text":"due to the factors mentioned previously in this section and which may therefore be greater than those disclosed","page_number":249,"box":{"x":83,"y":238,"width":826,"height":11}},{"id":"5e331378-aa18-4cd8-84af-2906bedea65e","block_type":"box","text":"here.","page_number":249,"box":{"x":84,"y":252,"width":35,"height":9}},{"id":"ac8d903a-bde8-4fca-a24f-93e04403dcaa","block_type":"box","text":"*** Prior to 7 April 2025, this Sub-Fund was called the AI Sustainable Stewardship UK Equity Fund.","page_number":249,"box":{"x":83,"y":271,"width":733,"height":12}},{"id":"ef2af948-a8ea-48be-b009-e30fd3d61423","block_type":"box","text":"**** Prior to 7 April 2025, this Sub-Fund was called the AI Sustainable Stewardship International Equity Fund.","page_number":249,"box":{"x":83,"y":291,"width":809,"height":11}},{"id":"a0212699-6709-47c9-9dbf-0a0a3e4c0b0a","block_type":"box","text":"***** Prior to 7 April 2025, this Sub-Fund was called the AI Sustainable Stewardship UK Equity Income Fund.","page_number":249,"box":{"x":83,"y":310,"width":806,"height":12}},{"id":"e30d6306-7919-447b-8bca-4cd2cc7b726a","block_type":"box","text":"****** Prior to 7 April 2025, this Sub-Fund was called the AI Sustainable Stewardship Fixed Interest Fund.","page_number":249,"box":{"x":83,"y":330,"width":780,"height":11}},{"id":"341c10c2-0c7d-4b44-b5ee-8930576ba0be","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":250,"box":{"x":62,"y":938,"width":302,"height":8}},{"id":"d2ed7414-7e3b-49b6-ae6c-54bec5740336","block_type":"box","text":"250","page_number":250,"box":{"x":780,"y":938,"width":19,"height":6}},{"id":"168b0bc2-1862-43a2-acd4-65dd33bf32fb","block_type":"box","text":"Aviva Investors: Confidential","page_number":250,"box":{"x":96,"y":964,"width":154,"height":7}},{"id":"a61a7e7b-5532-4da8-a1c3-9a3bbd946347","block_type":"box","text":"SCHEDULE 1","page_number":250,"box":{"x":440,"y":83,"width":103,"height":9}},{"id":"a4a64be1-3d54-44d5-8458-b911e81bfaee","block_type":"box","text":"ELIGIBLE SECURITIES MARKETS","page_number":250,"box":{"x":358,"y":110,"width":269,"height":9}},{"id":"c55eeaec-6526-4a32-88e7-3650db6dab04","block_type":"box","text":"A securities market is an eligible market if it is a regulated market (as defined in COLL), a market in the UK or an EEA","page_number":250,"box":{"x":62,"y":149,"width":861,"height":11}},{"id":"7e6b5ae1-fc1b-4102-ab2b-3daede32bfe7","block_type":"box","text":"State which is regulated, operates regularly and is open to the public, or any additional market listed below. Such","page_number":250,"box":{"x":62,"y":170,"width":860,"height":11}},{"id":"b4c96439-b2b3-4c98-b134-d19871a00bf4","block_type":"box","text":"securities markets shall be eligible for Sub-Funds of the Scheme subject to their investment objectives and policy.","page_number":250,"box":{"x":62,"y":190,"width":860,"height":11}},{"id":"84ea937d-373b-42dd-b6eb-e9d5af6234d6","block_type":"box","text":"The markets do not sponsor, endorse or promote the Sub-Funds, are not in any way connected to the Sub-Funds,","page_number":250,"box":{"x":62,"y":211,"width":860,"height":11}},{"id":"3edbc4c5-ca38-4938-963a-13d3ade2be1a","block_type":"box","text":"and do not accept any liability in relation to their issue, operation or trading.","page_number":250,"box":{"x":62,"y":231,"width":555,"height":11}},{"id":"76d6d11b-550b-47c6-bd7f-2585847f2ea5","block_type":"box","text":"Australia","page_number":250,"box":{"x":119,"y":272,"width":64,"height":9}},{"id":"5eae4078-5ab1-4cff-929a-5ae1b862da51","block_type":"box","text":"Australian Securities Exchange","page_number":250,"box":{"x":359,"y":272,"width":232,"height":12}},{"id":"19631715-b447-4997-aee7-f504bd9aadf6","block_type":"box","text":"Brazil","page_number":250,"box":{"x":120,"y":289,"width":39,"height":8}},{"id":"7aa6fdbd-6392-4921-8a97-29501b4b84cc","block_type":"box","text":"B3 – Brasil, Bolsa, Balcão","page_number":250,"box":{"x":360,"y":289,"width":192,"height":10}},{"id":"3d5ef2cf-2869-4e24-861c-6fa9bd15c674","block_type":"box","text":"Canada","page_number":250,"box":{"x":119,"y":304,"width":58,"height":9}},{"id":"7d30abc3-e2aa-4d5b-9159-deda876f05d4","block_type":"box","text":"Toronto Stock Exchange","page_number":250,"box":{"x":359,"y":304,"width":183,"height":11}},{"id":"acaede39-9f16-4669-8e1f-9298241997db","block_type":"box","text":"Chile","page_number":250,"box":{"x":119,"y":320,"width":37,"height":9}},{"id":"fea8d799-b8ff-433c-9858-5a2737f24458","block_type":"box","text":"Santiago Stock Exchange (Bolsa de Santiago)","page_number":250,"box":{"x":360,"y":320,"width":342,"height":11}},{"id":"e4b8c302-3021-4c33-89e0-dbf3f545b3d9","block_type":"box","text":"China","page_number":250,"box":{"x":119,"y":336,"width":43,"height":9}},{"id":"892d25df-79ef-40fe-9d5b-3c9af54be80d","block_type":"box","text":"Shanghai Stock Exchange","page_number":250,"box":{"x":360,"y":336,"width":195,"height":12}},{"id":"fdfb6bef-924f-41a8-a0af-d3bda3cd4386","block_type":"box","text":"Shenzhen Stock Exchange","page_number":250,"box":{"x":360,"y":352,"width":200,"height":11}},{"id":"ee3f29fb-3364-464d-997d-7e0513fa2113","block_type":"box","text":"Colombia","page_number":250,"box":{"x":119,"y":368,"width":70,"height":9}},{"id":"a63d0589-1ac5-47f1-9140-6d0be740b8b5","block_type":"box","text":"Colombia Stock Exchange (Bolsa de Valores de Colombia)","page_number":250,"box":{"x":360,"y":368,"width":437,"height":11}},{"id":"2d2dbdf8-7078-428d-b236-f9326606087c","block_type":"box","text":"Egypt","page_number":250,"box":{"x":120,"y":384,"width":41,"height":11}},{"id":"c9567d68-fe50-46e1-aaf1-a6a9869aeafc","block_type":"box","text":"Egyptian Exchange","page_number":250,"box":{"x":360,"y":384,"width":143,"height":11}},{"id":"e4e2206d-9b02-4507-902b-68ab8dc48344","block_type":"box","text":"Hong Kong","page_number":250,"box":{"x":120,"y":400,"width":81,"height":11}},{"id":"17bf432f-ad99-40fe-95d9-fb990d90f603","block_type":"box","text":"Hong Kong Exchanges & Clearing Limited","page_number":250,"box":{"x":360,"y":399,"width":312,"height":12}},{"id":"62ca0aed-17a8-4d98-9c52-b2298b7dae29","block_type":"box","text":"India","page_number":250,"box":{"x":120,"y":416,"width":34,"height":9}},{"id":"13f61c45-f06a-4bbd-9fbe-cf549eda78e3","block_type":"box","text":"BSE Limited","page_number":250,"box":{"x":360,"y":416,"width":90,"height":9}},{"id":"d0544977-b7fd-4f10-8172-2483406ce247","block_type":"box","text":"National Stock Exchange of India Limited","page_number":250,"box":{"x":360,"y":432,"width":304,"height":11}},{"id":"083f767d-ddab-4c10-b2f5-2290ac5a3d47","block_type":"box","text":"Indonesia","page_number":250,"box":{"x":120,"y":447,"width":71,"height":9}},{"id":"36754725-7065-4b4e-9fc1-eef376949c4a","block_type":"box","text":"Indonesia Stock Exchange","page_number":250,"box":{"x":360,"y":447,"width":197,"height":12}},{"id":"0e6563ab-cc8b-45d6-be2b-468f6ac24c05","block_type":"box","text":"Israel","page_number":250,"box":{"x":120,"y":464,"width":38,"height":8}},{"id":"0a496111-575d-4ece-851f-9c51ce0bb7d7","block_type":"box","text":"Tel Aviv Stock Exchange","page_number":250,"box":{"x":359,"y":464,"width":185,"height":11}},{"id":"643f53eb-7691-4821-98e5-2c65296c1859","block_type":"box","text":"Japan","page_number":250,"box":{"x":119,"y":480,"width":44,"height":11}},{"id":"4a9da471-a3d9-41f2-8fbe-95f0cf8d0bdd","block_type":"box","text":"Tokyo Stock Exchange","page_number":250,"box":{"x":359,"y":480,"width":171,"height":11}},{"id":"080bb1d3-2db8-4e7d-9954-dacce990931b","block_type":"box","text":"Osaka Exchange","page_number":250,"box":{"x":360,"y":495,"width":126,"height":11}},{"id":"21d9aca4-bf58-407c-af6d-0abf2ec1f65a","block_type":"box","text":"Nagoya Stock Exchange","page_number":250,"box":{"x":360,"y":511,"width":182,"height":12}},{"id":"3a313995-b79c-480e-893d-0efd9801fea3","block_type":"box","text":"Kuwait","page_number":250,"box":{"x":120,"y":528,"width":48,"height":8}},{"id":"a67c8c8e-fb6c-4dec-abe4-87a504d1d587","block_type":"box","text":"Boursa Kuwait","page_number":250,"box":{"x":360,"y":528,"width":107,"height":8}},{"id":"9434c1c5-18b4-415f-9f00-8fe8f0c4e4f1","block_type":"box","text":"Malaysia","page_number":250,"box":{"x":120,"y":543,"width":64,"height":11}},{"id":"52acb06e-dae4-4755-a705-5142164c010a","block_type":"box","text":"Bursa Malaysia","page_number":250,"box":{"x":360,"y":543,"width":113,"height":11}},{"id":"ab2dc37f-600d-40c1-a327-0441537478da","block_type":"box","text":"Mexico","page_number":250,"box":{"x":120,"y":559,"width":51,"height":9}},{"id":"e3bb1f9a-75ab-451e-a5e1-75e80ca43ef7","block_type":"box","text":"Mexican Stock Exchange (Bolsa Mexicana de Valores)","page_number":250,"box":{"x":360,"y":559,"width":406,"height":11}},{"id":"880c8f9f-09dd-415e-8475-0cc38038bbab","block_type":"box","text":"New Zealand","page_number":250,"box":{"x":120,"y":576,"width":96,"height":8}},{"id":"3616e2f9-f0fc-472e-acc9-a0c405515ce5","block_type":"box","text":"NZX Limited","page_number":250,"box":{"x":360,"y":576,"width":90,"height":8}},{"id":"69460452-db36-4150-9679-bec71a30bb02","block_type":"box","text":"Peru","page_number":250,"box":{"x":120,"y":591,"width":33,"height":9}},{"id":"a4b39ffc-ebe7-4b9f-afe4-052c05feb970","block_type":"box","text":"Lima Stock Exchange","page_number":250,"box":{"x":360,"y":591,"width":161,"height":11}},{"id":"be7ab542-c66c-49f0-9181-5587d657049f","block_type":"box","text":"Philippines","page_number":250,"box":{"x":120,"y":607,"width":79,"height":11}},{"id":"05a8ddbf-c71e-4b07-8706-bf4ec1570465","block_type":"box","text":"Philippine Stock Exchange","page_number":250,"box":{"x":360,"y":607,"width":197,"height":11}},{"id":"c40b3aca-df36-4441-a48d-8b5b36d8cfd1","block_type":"box","text":"Qatar","page_number":250,"box":{"x":119,"y":623,"width":41,"height":10}},{"id":"27da0d70-ddc9-479b-af51-4e2c36d4a4d7","block_type":"box","text":"Qatar Stock Exchange","page_number":250,"box":{"x":360,"y":623,"width":166,"height":11}},{"id":"596831ce-ed70-4a92-bc14-419ea21bdf20","block_type":"box","text":"Saudi Arabia","page_number":250,"box":{"x":119,"y":638,"width":95,"height":9}},{"id":"575464e5-7ac9-4926-a263-dcac70922574","block_type":"box","text":"Saudi Stock Exchange (Tadawul)","page_number":250,"box":{"x":360,"y":638,"width":246,"height":12}},{"id":"d8a80787-c7ab-4a1a-827b-46fda066cebc","block_type":"box","text":"Singapore","page_number":250,"box":{"x":119,"y":655,"width":75,"height":11}},{"id":"e2126b5c-164b-4fdf-8a60-df05506a4099","block_type":"box","text":"Singapore Exchange","page_number":250,"box":{"x":360,"y":655,"width":154,"height":11}},{"id":"ebff6ce5-3ed4-40ef-b96b-c64871354684","block_type":"box","text":"South Africa","page_number":250,"box":{"x":119,"y":671,"width":90,"height":9}},{"id":"b7af18a6-270f-49b4-8f11-965857401534","block_type":"box","text":"Johannesburg Stock Exchange","page_number":250,"box":{"x":359,"y":671,"width":232,"height":11}},{"id":"0bf9bede-5380-4674-b003-1ed436ae3c54","block_type":"box","text":"Switzerland","page_number":250,"box":{"x":119,"y":686,"width":85,"height":9}},{"id":"998f1bec-3cc1-4e29-b80f-eb9e1f2b7cdd","block_type":"box","text":"Six Swiss Exchange","page_number":250,"box":{"x":360,"y":686,"width":149,"height":12}},{"id":"7cedc63a-5129-4508-ab91-704886dab5bf","block_type":"box","text":"Taiwan","page_number":250,"box":{"x":119,"y":703,"width":52,"height":8}},{"id":"3798e222-3206-47b8-88d3-f5f53edbc2aa","block_type":"box","text":"Taiwan Stock Exchange Corporation","page_number":250,"box":{"x":359,"y":703,"width":271,"height":11}},{"id":"b2c955dd-4a62-425d-925c-51783ee4f438","block_type":"box","text":"Thailand","page_number":250,"box":{"x":119,"y":719,"width":63,"height":9}},{"id":"77e7a3d0-763c-4911-8758-1d038e6299e0","block_type":"box","text":"Stock Exchange of Thailand","page_number":250,"box":{"x":360,"y":719,"width":207,"height":11}},{"id":"afdcc250-1594-41d5-a5e3-c2dcf230a6e4","block_type":"box","text":"The Republic of Korea","page_number":250,"box":{"x":119,"y":734,"width":166,"height":11}},{"id":"0df464cb-4de5-429d-82c4-8d2f46a973d8","block_type":"box","text":"Korea Exchange","page_number":250,"box":{"x":360,"y":734,"width":122,"height":11}},{"id":"bb0e610f-25c6-4d79-b0ac-759fd9ce378f","block_type":"box","text":"Turkey","page_number":250,"box":{"x":119,"y":750,"width":51,"height":12}},{"id":"d22cff78-c1c0-4240-b4da-b0ec2aa86c43","block_type":"box","text":"Borsa Istanbul","page_number":250,"box":{"x":360,"y":750,"width":105,"height":9}},{"id":"5c97eeb3-ebe9-4267-a43f-7d06c3e28025","block_type":"box","text":"United Arab Emirates","page_number":250,"box":{"x":120,"y":767,"width":157,"height":9}},{"id":"4427b17b-a64f-4c2a-b5b6-afa24581a8ac","block_type":"box","text":"Abu Dhabi Securities Exchange","page_number":250,"box":{"x":359,"y":767,"width":235,"height":11}},{"id":"16a78fd2-c925-4d6a-81f4-1eade96b47df","block_type":"box","text":"NASDAQ Dubai","page_number":250,"box":{"x":360,"y":782,"width":117,"height":9}},{"id":"846c09ee-748c-4a39-a1a0-c28f76e10f77","block_type":"box","text":"Dubai Financial Market","page_number":250,"box":{"x":360,"y":797,"width":170,"height":9}},{"id":"08709052-db4b-43ad-9d13-999067cb12e8","block_type":"box","text":"USA","page_number":250,"box":{"x":120,"y":812,"width":33,"height":9}},{"id":"08050f0a-323c-4d24-9247-e21c3654d35f","block_type":"box","text":"NYSE American","page_number":250,"box":{"x":360,"y":812,"width":119,"height":9}},{"id":"2a39cf95-1bcf-4ac5-8aaa-a91921cf8f0e","block_type":"box","text":"New York Stock Exchange","page_number":250,"box":{"x":360,"y":829,"width":197,"height":11}},{"id":"3a73b97d-606e-488e-9279-9f2b25f50d7e","block_type":"box","text":"NYSE Arca","page_number":250,"box":{"x":360,"y":845,"width":83,"height":9}},{"id":"f0ab931c-0cb9-475a-b4dd-0e2da590dd25","block_type":"box","text":"NASDAQ PHLX (Philadelphia)","page_number":250,"box":{"x":360,"y":860,"width":225,"height":11}},{"id":"32b73474-9dea-432a-85fe-c59abda5a938","block_type":"box","text":"NASDAQ BX (Boston)","page_number":250,"box":{"x":360,"y":876,"width":164,"height":12}},{"id":"2bfbacd5-54ed-4fc4-9c41-e181038cf38a","block_type":"box","text":"NYSE Texas","page_number":250,"box":{"x":360,"y":893,"width":94,"height":9}},{"id":"bd0aef1f-e67d-4135-a244-ec0c33813340","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":251,"box":{"x":62,"y":902,"width":302,"height":8}},{"id":"885ccd93-d41c-443a-94bc-320b449ef515","block_type":"box","text":"251","page_number":251,"box":{"x":780,"y":902,"width":17,"height":6}},{"id":"07d58c53-e5ef-4c76-a170-d663b7ccbd01","block_type":"box","text":"Aviva Investors: Confidential","page_number":251,"box":{"x":96,"y":947,"width":154,"height":7}},{"id":"431b132b-0afe-496c-9def-d7303ae84473","block_type":"box","text":"NASDAQ and the Over-the-Counter Markets regulated by the","page_number":251,"box":{"x":360,"y":46,"width":506,"height":11}},{"id":"37ccb818-aa1d-4c0b-b9b8-eb3a236e3e5c","block_type":"box","text":"National Association of Securities Dealers Inc.","page_number":251,"box":{"x":360,"y":60,"width":341,"height":9}},{"id":"b2b9b1f9-fe2f-4d13-a8bb-86e1d5d4f847","block_type":"box","text":"Aviva Investors Funds ACS Prospectus (16 October 2026)","page_number":252,"box":{"x":62,"y":877,"width":302,"height":8}},{"id":"6c0b8d9c-e930-4f1d-bcca-22aa4ec29fe8","block_type":"box","text":"252","page_number":252,"box":{"x":780,"y":877,"width":19,"height":6}},{"id":"698e7605-0e88-48d2-932c-22d8ca5a356c","block_type":"box","text":"Aviva Investors: Confidential","page_number":252,"box":{"x":95,"y":968,"width":154,"height":7}},{"id":"fcf10358-4866-4a96-b5fc-3b8cb6cfa7f6","block_type":"box","text":"SCHEDULE 2","page_number":252,"box":{"x":440,"y":85,"width":105,"height":9}},{"id":"89801f56-8713-4c4c-acff-4a8cddf263de","block_type":"box","text":"ELIGIBLE DERIVATIVE MARKETS","page_number":252,"box":{"x":358,"y":99,"width":269,"height":9}},{"id":"fda599cf-fb67-407e-a4b4-5a0e22b76b01","block_type":"box","text":"A derivatives market is an eligible market if it is a regulated market (as defined for the purposes of COLL), a market","page_number":252,"box":{"x":62,"y":138,"width":861,"height":11}},{"id":"2944efff-7493-4bc6-a867-3a7618ce25ed","block_type":"box","text":"in the UK or an EEA State which is regulated, operates regularly and is open to the public, or any additional market","page_number":252,"box":{"x":62,"y":152,"width":861,"height":11}},{"id":"97d28a47-67da-4dc6-adda-691bdced708e","block_type":"box","text":"listed below. Such derivatives markets shall be eligible for Sub-Funds of the Scheme subject to them being permitted","page_number":252,"box":{"x":62,"y":165,"width":860,"height":12}},{"id":"4d4edd8d-c6d1-406f-a7bc-1fc10c85c396","block_type":"box","text":"to use derivatives, as set out in their respective investment objective and policy. The markets do not sponsor, endorse","page_number":252,"box":{"x":62,"y":179,"width":861,"height":11}},{"id":"30e8f782-f4f7-42d8-8f4d-9264af2fcf02","block_type":"box","text":"or promote the Sub-Funds, are not in any way connected to the Sub-Funds, and do not accept any liability in relation","page_number":252,"box":{"x":62,"y":193,"width":860,"height":11}},{"id":"03fde60f-b7d8-4921-b2de-cb3d1195bb4b","block_type":"box","text":"to their issue, operation or trading.","page_number":252,"box":{"x":62,"y":207,"width":253,"height":11}},{"id":"14d1c112-b8b4-45e3-9572-cd0c6e96e888","block_type":"box","text":"Australia","page_number":252,"box":{"x":123,"y":255,"width":65,"height":9}},{"id":"88111d14-0813-4f6b-b171-c37f2bc9fa2b","block_type":"box","text":"Australian Securities Exchange","page_number":252,"box":{"x":361,"y":255,"width":231,"height":11}},{"id":"e79f84a6-8193-4a20-a5ad-ef4e9b1a90a2","block_type":"box","text":"Brazil","page_number":252,"box":{"x":124,"y":280,"width":40,"height":8}},{"id":"ac38e1ef-dbdb-4e2a-94e8-eb4608d06e69","block_type":"box","text":"B3 – Brasil, Bolsa, Balcão","page_number":252,"box":{"x":362,"y":280,"width":191,"height":10}},{"id":"8589aab4-f562-4c66-b6a2-a9520d9017c4","block_type":"box","text":"Canada","page_number":252,"box":{"x":124,"y":304,"width":57,"height":9}},{"id":"86c75bbe-0165-4130-a9bc-c9932ca43a0c","block_type":"box","text":"Montreal Exchange (Bourse de Montreal)","page_number":252,"box":{"x":362,"y":305,"width":305,"height":11}},{"id":"503322ad-128c-46cd-b444-3a2abc85cf09","block_type":"box","text":"China","page_number":252,"box":{"x":124,"y":329,"width":42,"height":9}},{"id":"50711558-fa36-41ba-8aea-162fe9790411","block_type":"box","text":"China Financial Futures Exchange","page_number":252,"box":{"x":361,"y":333,"width":256,"height":11}},{"id":"c91bf5f7-d6e8-47dc-a0b3-9b168f5882c3","block_type":"box","text":"Hong Kong","page_number":252,"box":{"x":124,"y":354,"width":82,"height":11}},{"id":"aa901e1b-13ba-4288-8234-76c2463f3c1d","block_type":"box","text":"Hong Kong Exchanges & Clearing Limited","page_number":252,"box":{"x":362,"y":354,"width":311,"height":11}},{"id":"06b9d0f9-6261-481c-9c45-bbe0208b5c6d","block_type":"box","text":"India","page_number":252,"box":{"x":124,"y":379,"width":35,"height":9}},{"id":"f732085d-9a4f-409c-bdd7-a6dfce9b4ef2","block_type":"box","text":"National Stock Exchange of India Limited","page_number":252,"box":{"x":362,"y":379,"width":304,"height":11}},{"id":"c6d78710-3858-4a43-8179-fba686ee3c9a","block_type":"box","text":"Japan","page_number":252,"box":{"x":123,"y":404,"width":44,"height":11}},{"id":"84374115-449b-4523-920c-6c5074ac1fc8","block_type":"box","text":"Tokyo Financial Exchange Inc.","page_number":252,"box":{"x":361,"y":404,"width":227,"height":11}},{"id":"924caa22-7178-4d78-817b-96c49c7433ce","block_type":"box","text":"Tokyo Stock Exchange","page_number":252,"box":{"x":361,"y":428,"width":170,"height":12}},{"id":"cc931073-8cf1-418d-914d-364ea722f5b7","block_type":"box","text":"Osaka Exchange","page_number":252,"box":{"x":361,"y":453,"width":127,"height":12}},{"id":"c2916791-6f38-4f1b-a195-212a8d06096f","block_type":"box","text":"Kuwait","page_number":252,"box":{"x":124,"y":478,"width":49,"height":9}},{"id":"9a61e991-4566-4976-bae9-cfa546db50f2","block_type":"box","text":"Boursa Kuwait","page_number":252,"box":{"x":362,"y":478,"width":106,"height":9}},{"id":"8b55197f-4500-4f2b-9c4a-cf64ed9924d9","block_type":"box","text":"Malaysia","page_number":252,"box":{"x":124,"y":503,"width":65,"height":11}},{"id":"dc7d9d8d-b56a-43a7-aaec-4afc75689941","block_type":"box","text":"Bursa Malaysia","page_number":252,"box":{"x":362,"y":503,"width":113,"height":11}},{"id":"cf2fe03a-a933-4a3d-a3d5-4731ee9e1256","block_type":"box","text":"Mexico","page_number":252,"box":{"x":124,"y":528,"width":51,"height":9}},{"id":"fe69e174-8d48-4956-a748-09997e09bc5a","block_type":"box","text":"Mexican Derivatives Exchange","page_number":252,"box":{"x":362,"y":528,"width":227,"height":11}},{"id":"dda1adfd-ae38-4ebb-a1e7-ac48be8450fe","block_type":"box","text":"Peru","page_number":252,"box":{"x":124,"y":553,"width":33,"height":8}},{"id":"48d33a54-188a-47a7-999e-b0e698f13aea","block_type":"box","text":"Lima Stock Exchange","page_number":252,"box":{"x":362,"y":553,"width":160,"height":11}},{"id":"edefd938-c731-437f-a30f-1c9e75784467","block_type":"box","text":"Saudi Arabia","page_number":252,"box":{"x":124,"y":577,"width":94,"height":9}},{"id":"7a108ec6-f81d-4a78-9c68-89583d215d49","block_type":"box","text":"Saudi Stock Exchange (Tadawul)","page_number":252,"box":{"x":361,"y":577,"width":247,"height":12}},{"id":"cd7fc708-a76a-483b-b492-ade771bcabba","block_type":"box","text":"Singapore","page_number":252,"box":{"x":124,"y":602,"width":75,"height":12}},{"id":"41354d21-fe6e-41b8-9374-309ca996a8fb","block_type":"box","text":"Singapore Exchange","page_number":252,"box":{"x":361,"y":602,"width":155,"height":12}},{"id":"78a84ca9-ec67-4d86-a9e0-69dca81b74ed","block_type":"box","text":"South Africa","page_number":252,"box":{"x":124,"y":627,"width":90,"height":9}},{"id":"77171c2c-c95d-4a20-9904-ba187e0b5cb0","block_type":"box","text":"Johannesburg Stock Exchange","page_number":252,"box":{"x":361,"y":627,"width":231,"height":11}},{"id":"22e88e59-590b-48f4-a274-8b1642ed41fa","block_type":"box","text":"Taiwan","page_number":252,"box":{"x":123,"y":652,"width":53,"height":9}},{"id":"87a9f34d-603b-4862-8747-6b5791010c75","block_type":"box","text":"Taiwan Futures Exchange","page_number":252,"box":{"x":361,"y":652,"width":194,"height":11}},{"id":"ae5f80c0-29ce-4a8c-9cf6-80373a5f4bd3","block_type":"box","text":"Thailand","page_number":252,"box":{"x":123,"y":677,"width":63,"height":9}},{"id":"0fd9edea-c804-4ab2-a686-967891bae1ea","block_type":"box","text":"Thailand Futures Exchange","page_number":252,"box":{"x":361,"y":677,"width":204,"height":11}},{"id":"fd98c14e-707b-4f9f-91c2-a64a7d557783","block_type":"box","text":"The Republic of Korea","page_number":252,"box":{"x":123,"y":702,"width":166,"height":11}},{"id":"142e7a2b-0be9-4098-b10d-ea99d76e600e","block_type":"box","text":"Korea Exchange","page_number":252,"box":{"x":362,"y":702,"width":122,"height":11}},{"id":"81b3d5f5-65fa-4aa5-9631-89d960da9272","block_type":"box","text":"Turkey","page_number":252,"box":{"x":123,"y":727,"width":51,"height":11}},{"id":"1d4fb97b-2074-4e1d-8ba5-96ff59241b38","block_type":"box","text":"Borsa Istanbul","page_number":252,"box":{"x":362,"y":727,"width":105,"height":8}},{"id":"969cc1ac-eca1-4673-b604-ae5d2c13747e","block_type":"box","text":"United Arab Emirates","page_number":252,"box":{"x":124,"y":752,"width":158,"height":8}},{"id":"54690e7d-a8e9-46be-afd7-ef35cf5f8e34","block_type":"box","text":"Abu Dhabi Securities Exchange","page_number":252,"box":{"x":361,"y":752,"width":235,"height":11}},{"id":"e3f22f4f-f5fb-4fc5-912a-a73362307aa7","block_type":"box","text":"Dubai Financial Market","page_number":252,"box":{"x":362,"y":777,"width":170,"height":8}},{"id":"96b5e767-aaee-448d-80d7-acfa5f301077","block_type":"box","text":"USA","page_number":252,"box":{"x":124,"y":801,"width":33,"height":9}},{"id":"d1fcdb28-00ae-4174-ac50-5cb864ec4912","block_type":"box","text":"Chicago Board of Trade","page_number":252,"box":{"x":361,"y":801,"width":177,"height":12}},{"id":"c5ec5a64-7f45-462e-b332-49294d763226","block_type":"box","text":"Chicago Board Options Exchange","page_number":252,"box":{"x":361,"y":830,"width":252,"height":11}},{"id":"c5a29862-e443-43a9-92fd-10375e87a545","block_type":"box","text":"Chicago Mercantile Exchange","page_number":252,"box":{"x":361,"y":855,"width":222,"height":11}},{"id":"054ad97f-4f41-4bfa-aca7-fdbba0d4d423","block_type":"box","text":"ICE Futures US","page_number":253,"box":{"x":362,"y":132,"width":115,"height":9}},{"id":"9eb9c542-9615-4bdd-8b4f-bac3b3f5e1f7","block_type":"box","text":"New York Mercantile Exchange (NYMEX)","page_number":253,"box":{"x":362,"y":157,"width":307,"height":11}}],"unit":"per_mille","page_width":595,"page_height":842,"attributes":{"chunk_type":"page_range","start_page":1,"end_page":253}},"source":{"type":"Model","id":"github:dorsalhub/pdf-extractor","version":"0.5.0","execution_id":"06044f0a-ea28-4dbb-ada8-e2e1d46052a6"},"user_id":1000002,"date_created":"2026-10-20T08:04:49.804000Z","date_modified":"2026-10-20T08:04:49.804000Z","private":false}