We want to help people manage and grow their money. By offering model portfolio services, we can use our investment expertise to help more people achieve their financial goals. We believe we are well-placed to do this because we have the expertise, focus and scale to offer a compelling model portfolio service proposition. M&G PLC manages £370 billion of assets. The MPS proposition will draw an M&G PLC's expertise in asset allocation, manager research and investment risk oversight. These resources will be used as inputs for a dedicated M&G Wealth investment team to build portfolios specifically for the MPS market. We've designed our offering to fit a wide range of customer needs, covering different attitudes to risk, environment, social and governance preferences, and preferences for active or passive funds. We provide ongoing advisors support through our business development team and operations teams. M&G Wealth offers three MPS ranges, with a passive and hybrid range which invest in different regions and have a tilt to UK assets. The third range is global ESG themes which uses mostly active funds. This service invest in long-term themes that are intended to deliver positive environment, social and governance impacts to our society and planet. We also work with advisors to create bespoke MPS ranges that are more closely tailored to the business's needs. M&G Wealth has developed a strategic asset allocation for each portfolio. We take views in the asset allocation with the goal of delivering long-term performance. For example, we don't hold gilts and we favour Asia within equity markets. We use our investment expertise to make tactical changes to portfolios when we believe markets are acting irrationally. For fund manager research, we collaborate with M&G's Treasury & Investment Office which manages around £176 billion of assets. That scale gives us access to all aspects of a fund manager's business. With more information, we are better able to evaluate if what fund managers say is really what they do. Our portfolios are reviewed on a regular basis by an independent risk team. This provides challenge to the M&G Wealth investment team and helps us build more robust portfolios. M&G Wealth considers environmental, social and governance factors as part of its strategic asset allocation for all MPS ranges. We consider the ESG characteristics of different regions and asset classes, and adjust our assumptions for long-term returns and volatility. When evaluating fund managers, we review how managers integrate environmental, social and governance factors into their investment process. We prefer to invest with managers that have a robust approach to ESG. There are three key aspects. First, the majority of the funds used in the portfolio invest in global equities and global bonds. This provides a wider range of investment opportunities. ESG is the second key aspect. The portfolio's invested in funds that aim to deliver both competitive returns and positive environmental and social outcomes. Lastly, around half the equity exposure is invested in long-term themes. We look for parts of the market where companies are innovating and new industries are being created. We believe these are key drivers of long-term growth. The themes are aligned with the UN Sustainable Development Goals and include areas such as climate action, better health and social inclusion. We're excited about this new range of portfolios because of its potential to help customers achieve their goals, while also delivering positive environmental and social outcomes.