Performance summaryThe Multi-Asset Blend Balanced Fund (“the Fund”) enjoyed another steady quarterof positive returns, rising +1.6% over the third quarter taking it to +6.7% for theyear-to-date.Given its balanced risk pro昀椀le, Fixed Income is a prominent asset class in this Fund,representing 24% of the asset allocation. Fixed Income markets were up nicely overthe quarter.Also positively impactful on the Fund’s returns this quarter were our holdingsin Absolute Return and Property & Real Asset managers,within which our listedinfrastructure manager performed strongly as interest rate expectations declined.Equities represent 50% of MAB Balanced. Global equities were only up modestlyover the quarter. UK equities and Emerging Market equities led the way but the USand Japanese equity markets were both down.MAB BalancedIA Mixed Investment20-60%Quarter 3 20241.6%2.3%1 year11.3%12.0%3 year6.5%4.4%5 year24.8%15.7%22 July 2019(Since launch)25.4%16.4%The Fund has seena return of 25.4%since launch inJuly 2019.The Fund performance 昀椀gures are presented net of the Ongoing Charges Figure(OCF) and run from launch.Key portfolio activity0 Sales0 BuysThere were no newsales in Q3 2024.There were no newbuys in Q3 2024.68 ManagermeetingsWe attended 68meetings during thequarter to reviewexisting and prospectivemanagers.Pg 2