:root{--paper:#fafaf8;--white:#fff;--ink:#212321;--muted:#6b6d68;--border:#e5e6e0;--soft:#f1f1ec;--accent:#7b806f;--line:#d4d6cb;--serif:Georgia,'Times New Roman',serif;--sans:'Avenir Next','Avenir','Helvetica Neue',Arial,sans-serif}
*{box-sizing:border-box}html{scroll-behavior:smooth;scroll-padding-top:104px}body{margin:0;background:var(--paper);color:var(--ink);font-family:var(--sans);-webkit-font-smoothing:antialiased}a{color:inherit;text-decoration:none}button,input{font:inherit}button{cursor:pointer}svg{overflow:visible}p{line-height:1.7}.shell{width:min(1170px,calc(100% - 88px));margin:0 auto}.section{padding:110px 0}.skip{position:absolute;left:-9999px;top:10px;background:#fff;z-index:50;padding:10px}.skip:focus{left:10px}.site-header{background:rgba(250,250,248,.97);border-bottom:1px solid var(--border);position:sticky;top:0;z-index:20;backdrop-filter:blur(15px)}.header-inner{height:94px;display:flex;align-items:center;justify-content:space-between;gap:28px}.brand{display:flex;align-items:center;max-width:220px;flex-shrink:0}.brand-frame{display:flex;position:relative;align-items:center;justify-content:flex-start;width:210px;height:66px;overflow:hidden}.brand img{max-width:100%;height:auto}.brand .original-logo{width:194px;max-height:66px;object-fit:contain;position:absolute;inset:0;margin:auto 0;opacity:0;transition:opacity .1s}.brand.logo-loaded .original-logo{opacity:1;z-index:2}.brand .backup-logo{width:200px;max-height:66px;display:block}.nav{display:flex;align-items:center;gap:34px;justify-content:flex-end}.nav-link{position:relative;color:#545650;font-size:13px;white-space:nowrap;transition:color .2s}.nav-link:hover,.nav-link.active{color:#161815}.nav-link.active:after,.nav-link:hover:after{content:"";position:absolute;bottom:-13px;left:0;right:0;height:1px;background:#282a24}.menu-button{display:none}.hero{padding-bottom:46px;min-height:585px}.hero-grid{display:grid;grid-template-columns:1.18fr .82fr;gap:64px;align-items:center;min-height:480px}.section-label,.eyebrow{font-size:10px;font-weight:700;letter-spacing:2.1px;color:#6e7168}.section-label{display:flex;gap:14px;align-items:center}.mini-rule{width:26px;height:1px;background:#888b80;display:inline-block}.hero h1{font-size:clamp(48px,5.35vw,76px);font-weight:400;letter-spacing:-3.6px;line-height:1.12;margin:30px 0 25px}.h1-emphasis{font-family:var(--serif);font-weight:400;font-style:italic;letter-spacing:-2.7px}.hero-intro{font-size:16px;color:#565a54;max-width:520px;line-height:1.8}.hero-actions{display:flex;align-items:center;gap:34px;margin-top:32px;flex-wrap:wrap}.button{display:inline-flex;align-items:center;justify-content:space-between;gap:26px;padding:16px 21px;font-size:13px;transition:transform .2s,background .2s}.button:hover{transform:translateY(-2px)}.button-dark{background:#262925;color:#fff}.button-dark:hover{background:#40443c}.button svg{width:15px;height:15px;stroke:currentColor;fill:none;stroke-width:1.6}.text-link{font-size:13px;border-bottom:1px solid #a7aaa1;padding-bottom:6px}.text-link span{margin-left:15px}.hero-side{background:#efefe9;min-height:353px;padding:29px 34px 25px;display:flex;flex-direction:column;position:relative;overflow:hidden}.hero-side:after{content:"";display:block;position:absolute;width:250px;height:250px;border:1px solid #d9dacf;border-radius:50%;right:-145px;top:53px}.hero-side-top,.hero-side-bottom{display:flex;justify-content:space-between;align-items:center;font-size:10px;letter-spacing:1.4px;color:#777b71;font-weight:700}.hero-side-main{font-family:var(--serif);font-size:clamp(32px,3vw,44px);line-height:1.2;letter-spacing:-1.3px;margin-top:52px;position:relative;z-index:1}.hero-side p{font-size:12.5px;color:#60645d;max-width:265px;margin:22px 0 30px}.hero-side-bottom{border-top:1px solid #d5d7cb;padding-top:17px;margin-top:auto}.hero-mark{font-size:31px;font-weight:300;letter-spacing:0;color:#656a5d}.hero-side-bottom span:last-child{text-align:right;line-height:1.65}.hero-baseline{display:flex;justify-content:space-between;font-size:10px;letter-spacing:1.8px;color:#777a70;padding-top:20px;border-top:1px solid var(--border)}.hero-baseline span span{font-size:14px;margin-left:10px}.figures-section{background:#fff;border-block:1px solid var(--border)}.figure-grid{display:grid;grid-template-columns:1.08fr 1fr 1fr .9fr;align-items:stretch}.figure-grid>div{padding:29px 22px 30px;border-right:1px solid var(--border)}.figure-grid>div:first-child{padding-left:0}.figure-grid>div:last-child{border-right:0;padding-right:0}.figures-heading,.figure-item{display:flex;flex-direction:column}.figures-heading strong{font-size:20px;font-weight:500;margin-top:13px}.source-label{font-size:11px;color:#8a8d86;margin-top:10px}.figure-item>span{font-size:10px;letter-spacing:1.5px;color:#7e817a;font-weight:700}.figure-item strong{font-size:34px;line-height:1.2;font-weight:400;letter-spacing:-1.4px;margin:6px 0}.figure-item small{font-size:11px;color:#858981}.figure-action{display:flex;align-items:center;justify-content:flex-end}.figure-action a{font-size:12.5px;border-bottom:1px solid #afb1a9;padding-bottom:6px}.figure-action a span{margin-left:14px}.section-head{display:grid;grid-template-columns:1.35fr .65fr;align-items:end;gap:65px;margin-bottom:45px}.section-head h2{font-size:clamp(35px,4vw,52px);font-weight:400;letter-spacing:-2.3px;line-height:1.14;margin:20px 0 0}.section-head p{font-size:13.5px;color:#656962;margin:0 0 6px;max-width:400px}.period{color:#8b9282}.investments-section{background:#fafaf8}.allocation-note{display:flex;justify-content:space-between;font-size:10.5px;color:#777b74;margin-bottom:12px}.allocation-note>span:first-child{font-weight:600;color:#454943}.small-circle{display:inline-block;width:7px;height:7px;background:#61695c;border-radius:50%;margin-right:8px}.allocation-bar{display:flex;overflow:hidden;height:7px;gap:3px;background:#fff}.allocation-bar span{height:100%}.bar-property{background:#2f352f}.bar-markets{background:#8b9184}.bar-businesses{background:#d5d9ce}.investment-grid{display:grid;grid-template-columns:repeat(3,1fr);margin-top:22px;border-top:1px solid var(--border);border-bottom:1px solid var(--border)}.investment-item{padding:30px 40px 25px 0;min-height:348px;border-right:1px solid var(--border);display:flex;flex-direction:column}.investment-item+ .investment-item{padding-left:34px}.investment-item:last-child{border:0;padding-right:0}.investment-top{display:flex;justify-content:space-between;align-items:center}.number{font-size:11px;color:#777b73}.investment-top strong{font-weight:400;font-size:18px;color:#545c51}.investment-item h3{font-size:28px;line-height:1.21;font-weight:500;letter-spacing:-1px;margin:37px 0 12px}.investment-item p{font-size:13px;color:#696c66;margin:0;max-width:310px}.item-foot{font-size:10px;font-weight:700;letter-spacing:1.6px;border-top:1px solid var(--border);padding-top:18px;margin-top:auto;display:flex;justify-content:space-between;color:#777b74}.item-foot span{font-size:16px}.investor-section{background:#fff;border-top:1px solid var(--border)}.investor-head{margin-bottom:40px}.investor-layout{display:grid;grid-template-columns:1.35fr .65fr;gap:22px;align-items:stretch}.investor-chart-card,.investor-info-card{border:1px solid var(--border);padding:32px;background:#fff}.investor-info-card{background:#f6f6f2}.card-heading{display:flex;justify-content:space-between;gap:30px;align-items:flex-start}.card-heading h3{margin:8px 0;font-size:20px;font-weight:500;letter-spacing:-.5px}.chart-controls{display:flex;gap:8px}.chart-switch{font-size:11px;border:1px solid var(--border);background:transparent;padding:8px 12px;color:#72766e}.chart-switch.selected{border-color:#333830;background:#333830;color:white}.chart-current{display:flex;align-items:baseline;gap:12px;margin-top:24px}.chart-current strong{font-size:38px;letter-spacing:-1.5px;font-weight:400}.chart-current span{font-size:10px;color:#777a72;letter-spacing:1px}.chart-container{margin-top:0;width:100%}.chart-container svg{width:100%;height:auto;display:block;overflow:visible}.chart-foot{display:flex;justify-content:space-between;font-size:10px;letter-spacing:1px;color:#848880;border-top:1px solid var(--border);padding-top:12px}.chart-line-indicator{display:inline-block;width:16px;height:2px;background:#545d4f;vertical-align:middle;margin-right:4px}.chart-note{margin:18px 0 0;font-size:11.5px;color:#858981}.investor-info-card>.eyebrow{display:block;padding-bottom:20px;border-bottom:1px solid var(--border)}.metric-block{display:flex;flex-direction:column;border-bottom:1px solid #dfe0da;padding:23px 0 20px}.metric-block>span{font-size:12px;color:#656a62}.metric-block strong{font-size:34px;font-weight:400;letter-spacing:-1.2px;margin-top:6px}.metric-block small{color:#868b81;font-size:11px;margin-top:4px}.investor-info-card p{font-size:12px;color:#71756c;margin:20px 0}.wide{width:100%;min-height:49px;font-size:12.5px}.investor-info-card .note{display:block;color:#888d85;font-size:10px;line-height:1.5;margin-top:13px}.historical-details{border-bottom:1px solid var(--border);margin-top:26px}.historical-details summary{cursor:pointer;padding:18px 2px;list-style:none;display:flex;justify-content:space-between;font-size:13px;font-weight:600}.historical-details summary::-webkit-details-marker{display:none}.historical-details[open] summary span{transform:rotate(45deg)}.historical-details summary span{font-size:23px;font-weight:300;transition:transform .2s}.table-wrap{overflow:auto}table{border-collapse:collapse;width:100%;font-size:13px;margin:8px 0 30px}th{text-align:left;letter-spacing:.5px;font-size:11px;color:#7b7e77;font-weight:600}td,th{padding:12px 15px 12px 0;border-bottom:1px solid #eeeeea}td:first-child,th:first-child{width:40%}.information-section{background:#fafaf8}.info-grid{display:grid;grid-template-columns:1.3fr .7fr;gap:70px}.documents{border-top:1px solid var(--border)}.document-row{display:grid;grid-template-columns:52px 1fr 20px;gap:23px;align-items:center;border-bottom:1px solid var(--border);padding:29px 3px;transition:background .2s}.document-row:hover{background:#f1f2eb}.doc-icon{font-size:10px;color:#777e74;font-weight:700;background:#edf0e8;border:1px solid #e1e4da;display:grid;place-items:center;width:48px;height:55px}.doc-title{font-size:17px;letter-spacing:-.4px}.doc-title small{display:block;font-size:11px;color:#888d86;margin-top:8px;letter-spacing:0}.doc-arrow{font-size:22px;font-weight:300;color:#555b52}.contact-card{padding:34px;background:#eeefe9;align-self:start}.contact-card h3{font-weight:400;font-size:33px;letter-spacing:-1px;margin:24px 0 10px}.contact-card p{font-size:12.5px;color:#747971}.contact-email{font-size:18px;border-bottom:1px solid #9a9f93;display:flex;justify-content:space-between;align-items:center;padding:17px 0;margin-top:16px}.contact-address{border-top:1px solid #d1d4ca;margin-top:42px;padding-top:22px;display:flex;justify-content:space-between;gap:15px;font-size:10px;letter-spacing:1px;color:#6d736b}.contact-address address{text-align:right;font-style:normal;line-height:1.65;font-size:12px;letter-spacing:0;color:#525850}.subscribe-section{background:#e8ebe4;padding:46px 0}.subscribe-grid{display:grid;grid-template-columns:1fr 1fr;gap:80px;align-items:center}.subscribe-grid h2{font-size:31px;letter-spacing:-.7px;font-weight:400;margin:9px 0 2px}.subscribe-grid p{margin:0;font-size:12.5px;color:#6e756b}.subscribe-form label{display:block;font-size:10px;letter-spacing:1.4px;color:#696f66;font-weight:600;margin-bottom:10px}.subscribe-input-row{display:flex;border-bottom:1px solid #8e968a;gap:10px;align-items:center}.subscribe-input-row input{width:100%;background:transparent;border:0;padding:12px 0;outline:0;font-size:14px;min-width:0}.subscribe-input-row button{background:transparent;border:0;white-space:nowrap;font-size:12px;font-weight:600}.subscribe-input-row button span{margin-left:8px}.subscribe-form small{display:block;font-size:10px;color:#7d847a;margin-top:10px}.site-footer{background:#fafaf8}.footer-main{display:flex;justify-content:space-between;gap:40px;padding:65px 0 54px}.footer-brand img{max-width:210px;width:100%;height:auto}.footer-brand p{font-size:12px;color:#777e76}.footer-links{display:grid;grid-template-columns:repeat(2,1fr);gap:18px 55px;font-size:12px;color:#60665d}.footer-links a:hover{text-decoration:underline}.footer-bottom{padding:21px 0;border-top:1px solid var(--border);display:flex;gap:20px;justify-content:space-between;font-size:10.5px;color:#888e86}.footer-bottom a{color:#4d544a}
@media(max-width:1050px){.shell{width:min(100% - 58px,1170px)}.nav{gap:20px}.nav-link{font-size:12px}.brand,.brand-frame{max-width:175px}.brand .original-logo,.brand .backup-logo{width:170px}.hero-grid{gap:34px}.hero h1{font-size:58px}.figure-grid{grid-template-columns:1.2fr 1fr 1fr}.figure-action{display:none!important}.investor-layout{grid-template-columns:1.2fr .8fr}.info-grid{gap:35px}.investment-item{padding-right:25px}.investment-item+.investment-item{padding-left:25px}}
@media(max-width:760px){html{scroll-padding-top:82px}.shell{width:calc(100% - 38px)}.header-inner{height:76px}.brand-frame{height:59px}.brand .original-logo,.brand .backup-logo{width:165px;max-height:56px}.nav{display:none;position:absolute;top:75px;left:0;right:0;background:#fafaf8;padding:17px 20px 25px;border-bottom:1px solid var(--border);box-shadow:0 15px 20px rgba(0,0,0,.03);flex-direction:column;align-items:stretch;gap:0}.nav.open{display:flex}.nav-link{font-size:14px;padding:13px 0;border-bottom:1px solid var(--border)}.nav-link.active:after,.nav-link:hover:after{display:none}.menu-button{display:flex;width:40px;height:40px;border:0;background:transparent;flex-direction:column;justify-content:center;align-items:flex-end;gap:6px}.menu-button span{width:25px;height:1.5px;background:#2a2b28;transition:transform .2s}.menu-button[aria-expanded="true"] span:nth-child(1){transform:translateY(7.5px) rotate(45deg)}.menu-button[aria-expanded="true"] span:nth-child(2){opacity:0}.menu-button[aria-expanded="true"] span:nth-child(3){transform:translateY(-7.5px) rotate(-45deg)}.section{padding:68px 0}.hero{padding-top:56px;padding-bottom:25px}.hero-grid{grid-template-columns:1fr;gap:44px;min-height:auto}.hero h1{font-size:clamp(47px,11vw,65px);line-height:1.14;letter-spacing:-2.5px;margin:24px 0 20px}.hero-intro{font-size:15px}.hero-side{min-height:310px;padding:25px}.hero-side-main{font-size:39px;margin-top:38px}.hero-baseline{margin-top:32px}.figure-grid{grid-template-columns:1fr 1fr;gap:0}.figure-grid>div{padding:22px 15px 21px 0}.figures-heading{grid-column:span 2;border-bottom:1px solid var(--border);padding:22px 0!important}.figures-heading strong{margin:7px 0}.figure-grid .figure-item:nth-child(3){border-right:0;padding-left:15px}.figure-item strong{font-size:30px}.section-head{grid-template-columns:1fr;gap:20px;margin-bottom:30px}.section-head h2{font-size:41px}.section-head p{font-size:13px}.allocation-note{gap:20px;line-height:1.3}.investment-grid{grid-template-columns:1fr}.investment-item,.investment-item+.investment-item{min-height:auto;padding:22px 2px 21px;border-right:0;border-bottom:1px solid var(--border)}.investment-item:last-child{border-bottom:0}.investment-item h3{margin:20px 0 12px}.investment-item p{margin-bottom:28px}.investor-layout{grid-template-columns:1fr}.investor-chart-card,.investor-info-card{padding:22px}.card-heading{flex-direction:column;gap:12px}.chart-current{margin-top:26px}.info-grid{grid-template-columns:1fr;gap:32px}.contact-card{padding:26px}.subscribe-grid{grid-template-columns:1fr;gap:26px}.footer-main{padding:40px 0;flex-direction:column}.footer-links{gap:15px}.footer-bottom{flex-direction:column;gap:8px}.hero-actions{gap:24px}}
@media(prefers-reduced-motion:reduce){html{scroll-behavior:auto}*,*::before,*::after{transition-duration:.01ms!important;animation-duration:.01ms!important}}
/* Restrained Charlivia chart treatment: fine line with a very light fill. */
#chart-area{fill:rgba(95,107,92,.065);stroke:none}
#chart-line{fill:none;stroke:#505d4f;stroke-width:2.5;stroke-linecap:round;stroke-linejoin:round}


/* Header / Adelaide image separation fix (26 Oct 2026).
   Keep the standalone PNG wordmark in the header, place the Adelaide JPG
   only in the hero, and prevent either image from escaping its own box. */
.site-header .header-inner{min-height:94px;height:auto;padding-block:13px}
.site-header .brand{width:215px;max-width:215px;min-width:0}
.site-header .brand-frame{width:215px;height:66px;min-width:0;overflow:hidden}
.site-header .brand img{display:block;position:absolute;inset:0;width:100%;height:100%;object-fit:contain;object-position:left center;max-width:none;max-height:none;margin:0}
.site-header .brand .original-logo{width:100%;height:100%;opacity:0;z-index:2}
.site-header .brand.logo-loaded .original-logo{opacity:1}
.site-header .brand .backup-logo{width:100%;height:100%;z-index:1}
.hero-grid{align-items:center}
.hero-photo{width:100%;min-width:0;margin:0;align-self:center}
.hero-photo-frame{position:relative;width:100%;aspect-ratio:1.54;overflow:hidden;background:#eceee9;border:1px solid var(--border)}
.hero-photo-placeholder{position:absolute;inset:0;display:flex;flex-direction:column;align-items:center;justify-content:center;gap:10px;text-align:center;padding:25px;background:linear-gradient(145deg,#e7ebe5,#f5f5f1);color:#676e67}
.hero-photo-placeholder span{font-size:10px;font-weight:600;letter-spacing:2px}
.hero-photo-placeholder strong{font:italic 30px/1.2 Georgia,serif;color:#343a34;font-weight:400}
.hero-photo-frame .adelaide-photo{position:absolute;inset:0;width:100%;height:100%;max-width:100%;max-height:100%;object-fit:cover;object-position:center;display:block;opacity:0;transition:opacity .15s ease}
.hero-photo-frame.photo-loaded .adelaide-photo{opacity:1}
.hero-photo-caption{display:flex;justify-content:space-between;align-items:baseline;gap:24px;border-bottom:1px solid var(--border);padding:15px 0 17px;line-height:1.5}
.hero-photo-location{font-size:10px;letter-spacing:1.6px;font-weight:700;color:#777b75;white-space:nowrap}
.hero-photo-motto{font-family:var(--serif);font-size:16px;font-style:italic;color:#434640;text-align:right}
@media(max-width:1050px){
  .site-header .brand{width:183px;max-width:183px}
  .site-header .brand-frame{width:183px;height:61px}
  .hero-photo-caption{align-items:flex-start;flex-direction:column;gap:6px}
  .hero-photo-motto{text-align:left}
}
@media(max-width:760px){
  .site-header .header-inner{min-height:76px;padding-block:9px}
  .site-header .brand{width:173px;max-width:173px}
  .site-header .brand-frame{width:173px;height:56px}
  .hero-grid{gap:33px}
  .hero-photo-frame{aspect-ratio:1.7}
  .hero-photo-caption{padding-block:12px 14px}
  .hero-photo-placeholder strong{font-size:24px}
}