It is not a target. 

The portfolio’s annualized yield is a rolling 12-month yield.

• The income paid over the trailing 12 months

• Measured against the portfolio's value at the end of each month

• Expressed as an annual percentage, updated monthly

Because it is a trailing figure, it changes each month. The latest payout yield is shown on the product page.

• The monthly figures up to and including 31 July 2026 are based on backtested data for illustration purposes only.

• From 1 August 2026 onward, the monthly figures reflect actual live portfolio data.