9. Net gains/(losses) from investments at fair value through profit and loss

6 months ended 30 June 2026

£’000

6 months ended 30 June 2025

£’000

Net change in unrealised gains/(losses) on investments at fair value through profit and loss:

Funds

73,683

103,941

Direct Investments

9,592

(39,788)

Other1

(202)

Total net change in unrealised gains/(losses) on investments at fair value through profit and loss

83,073

64,153

Net realised gains/(losses) on investments at fair value through profit and loss:

Funds

(8,789)

18,687

Total net realised gains/(losses) on investments at fair value through profit and loss

(8,789)

18,687