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See","page_number":4,"box":{"x":47,"y":712,"width":172,"height":9}},{"id":"83aa260d-394b-4d57-9529-54766bea6f10","block_type":"box","text":"Net exposure","page_number":4,"box":{"x":223,"y":713,"width":73,"height":8}},{"id":"2345ce4d-270c-46ca-99df-e8510f9274ad","block_type":"box","text":".","page_number":4,"box":{"x":297,"y":718,"width":2,"height":1}},{"id":"30e56b43-629d-45d3-9ede-bb08ada95899","block_type":"box","text":"Hedge","page_number":4,"box":{"x":48,"y":727,"width":34,"height":9}},{"id":"2123afb5-40bd-4b1c-ac04-32971e45f432","block_type":"box","text":": an investment designed to reduce the risk of adverse price movements in","page_number":4,"box":{"x":83,"y":727,"width":404,"height":9}},{"id":"089acdef-89f8-492c-95df-e01f6a592138","block_type":"box","text":"an asset by taking an offsetting position. 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See","page_number":4,"box":{"x":512,"y":155,"width":140,"height":9}},{"id":"1139abcc-3ae6-472e-b1ca-5d885b6fee6f","block_type":"box","text":"Gross Exposure, Long/short Position.","page_number":4,"box":{"x":656,"y":155,"width":201,"height":9}},{"id":"861ec4a4-22d2-4256-b55f-a0a7008a1293","block_type":"box","text":"Non-rated bonds","page_number":4,"box":{"x":512,"y":170,"width":93,"height":7}},{"id":"afa25924-1c61-46c9-bcf4-efcc536df1b5","block_type":"box","text":": bonds that are not rated. 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OEICs normally list a single price based on the NAV. 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